John,

I hope you had a good Easter weekend. I typically take Monday Easter off but
this year too much was going on.

Two items I wanted to mention:

1. Tony Hamilton, weather support

Tony Hamilton, a meteorologist Ph.D. hired to support Global Markets, spent
a
few weeks in Houston, in training with Mike Roberts' team. He went back to
London 10 days ago and he hit the ground running. He is supporting not only
crude and weather derivatives, but also gas and power, and is inundated with
requests for help.

He is supported by another member of Mike Roberts' team, Steve Bennett, on a
temporary assignment (10 days planned originally).

Action recommended.

a. Extension of Steve Bennett temporary assignment for a few more weeks. I
have already authorized extension till the 27th. I shall speak more with
Tani
on Wednesday about it. ?b. ?Hiring another weather person to work with Tony
Hamilton, supporting gas and power across continental Europe.

2. Stinson Gibner

Slava is currently in Houston, learning more about research group here and
building a network of relationships. I have a very high opinion of Salvia -
he is a very bright person, very personable and hard working. I still worry
about the depth and breadth of his experience, his understanding of the
totality of Enron business and the relative ?importance of multiple
activities we have to support. I think it makes sense to have a more
experienced research person coaching him for 18-24 months. I talked to Bryan
Seyfried and Ted Murphy and they expressed similar concerns about the depth
of support they expect.

Action recommended.

I still think it makes sense to bring Stinson Gibner to London for an
extended stay. To manage Slava's expectations, I would call Stinson a Head
of
Research for Europe and Asia. His responsibility would also include
coordination of research and model building for other locations than London
where I see a lot of activity that goes on without regular audits and ?
reviews we have in Houston, and over which we have no control (except for
reacting to requests for assistance). I propose that Stinson come to London
in the next few days to discuss the potential assignment with you.

By the way, Greg Whalley agrees with the idea of a senior research person in
London. He, however, recommended Vasant - stronger work ethics is the main
consideration.

Vince


Ed

How are you doing on these reports.
---------------------- Forwarded by John J Lavorato/Corp/Enron on 07/17/2000
09:38 AM ---------------------------

David W Delainey@ECT
06/29/2000 12:33 PM
To: Edward D Baughman/HOU/ECT@ECT
cc: John J Lavorato/Corp/Enron@Enron, Kevin M Presto/HOU/ECT@ECT, Tammy R
Shepperd/HOU/ECT@ECT

Subject: Monthly Mid Market Coverage Report

Ed, sounds like you have this handled - I would like to use your report as
the example to use in other groups.  It can wait until you have it all
completed.  You may want to think about EOL as well (ie) how many companies
have you brought on-line, etc.

 summary:
  - coverage metrics;
  - market iniatives;
  - completed deals;
  - hot list;
  - EOL metrics.

Thxs
Delainey

---------------------- Forwarded by David W Delainey/HOU/ECT on 06/29/2000
12:30 PM ---------------------------

	From:  Edward D Baughman                           06/29/2000 10:34 AM

To: David W Delainey/HOU/ECT@ECT
cc: John J Lavorato/Corp/Enron@Enron, Kevin M Presto/HOU/ECT@ECT, Tammy R
Shepperd/HOU/ECT@ECT
Subject: Monthly Mid Market Coverage Report

Dave:

I want to be sure I am on the right track for providing you ,John and Kevin
with meaningful account coverage data. I envision a one page
summary that provides you with a monthly and quarterly sub-region coverage
ratio. I propose that the quarterly coverage standard be set
at 100%. The monthly coverage standard would be at least 50%. These standards
would drive consistent, ongoing coverage of commercially
active customers. Less active or inactive customers would be contacted at
least once a quarter to determine status changes and propose
product structures. This reporting format would also place emphasis on each
commercial team's coverage effectiveness or lack thereof.  I will
derive this summary from a master customer list that will show contact dates
and specific comments on customer status. I anticipate this master
list to be 20-25 pages. I propose to provide you a copy of the master list
quarterly in order to corroborate the monthly summary. Do my proposed
coverage standards and reporting format meet your expectations?

In addition, I have asked my commercial teams to prepare regional business
plans by July 12. A primary component of these plans will be
identification of major new business initiatives by sub-region. Tammy
Shepperd asked me to provide you with an initial report this week. I
don't want to provide you with something "half-baked".  Is it acceptable to
allow my commercial teams to complete their plans then provide
you with our suggested initiatives by July 13 ?

Finally, I have provided Tammy with reports on 1st/2nd quarter completed
transactions plus a deal flow "hot list" .

Sorry for being verbose. Please advise.

Thanks,     Ed


Good news.  Also, Rich Drom called from PJM wanting to know if someone from Enron was attending the Members Mtg this Thursday (no) and if what did we want to do with the confidentiality of our credit (I think that we should agree - not PJM's to distribute).  Your thoughts - I'll call Drom back tomorrow.

Jim

-----Original Message-----
From: Novosel, Sarah
Sent: Tuesday, December 04, 2001 5:10 PM
To: Nicolay, Christi L.; Steffes, James D.; Walton, Steve; Kaufman, Paul
Subject: I'm Back on Email

I'm connected again, so please include me in correspondences, etc.  Christi, if you need to me send the note about NEPOOL decertification status, I can do that now.

Thanks

Sarah


Attached for your review are a revised Schedule to the ISDA Master Agreement, together with Paragraph 13 to the Credit Support Annex.  These documents are currently being reviewed by our credit department and are subject to revision based upon their review of same.  Please contact Frank with any questions or comments.

Thank you.

Marie Heard
Senior Legal Specialist
Enron North America Corp.
Phone:  (713) 853-3907
Fax:  (713) 646-3490
marie.heard@enron.com


You have received this email because you are listed as a data approver. Please click http://itcapps.corp.enron.com/srrs/auth/emailLink.asp?ID=000000000082433&Page=Approval to review and act upon this request.

Request ID          : 000000000082433
Request Create Date : 2/6/02 2:16:13 PM
Requested For       : jeanne.wukasch@enron.com
Resource Name       : Sitara Houston Production West Edit Logistics
Resource Type       : Applications


you can open it and hold it.  I know what it is.

Gloria Cruz
10/25/2000 02:03 PM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject:

Kay, there is a FedEx from Ken Sevigny (ENSR Consulting & Engineering, 35
Nagog Park, Acton, MD).  Let me know if you want me to open it and advise you
as to what it is or if it can hold until tomorrow when you come in.


Good Morning All!

I have made a mistake; I thought I sent a notice last week that Cheryl was planning to be out this Monday.  FYI, she will be out for the entire day and will return to the office at her regular time, tomorrow.  I apologize for any inconvenience my oversight may have caused.  Thank you for your attention to this matter.

Regards,
Keegan Farrell
5-3317


Mark Your Lunch Calendars!

You are invited to attend the ENA Brown Bag Lunch Series

Featuring Brian Redmond
Managing Director

Discussion Topic:  ENA Upstream

Wednesday, June 21, 2000
11:30 AM ) 12:30 PM
EB 5C2

You bring your lunch -     Limited Seating
We provide drinks and dessert!    RSVP  X 57352


Here's my stab at the Product Long Description.

Sara - please review and offer your comments.

RAC - I need a Sigma Factor, please.

William - I have built a test Product in the Product Manager and it appears
to have worked okay. I have asked David Forster to review the description as
well as the attributes that I built in TEST. I will begin to build this in
Production once I have his and Sara's sign-off. David will also be checking
on the issue that I mentioned to you about the number of characters that can
be put in the Volume and Price feilds in the Stack Manager. This is the one
thing that could really hold up the process, so we may want to think about
alternatives (such as trading in 10,000 increments - so that 5 means 50,000;
50 means 500,000; etc)

Jennifer Denney will be contacting Clara Carrington to talk to her about how
Clara will see trades come over in the EOL Bridge Monitor.

Things are progessing relatively well so far, with the exception of the issue
of the character limitation.

Dale


I saw something on the intranet which says you can check all your benefits,
etc , including vacation time.  It called for a password.  Did you receive a
password for yours?  I wonder if it is the same as the password when you
submit benefits.  Any ideas?

ckm

From: Suzanne Adams@ECT on 09/05/2000 10:37 AM
To: Becky Tlucek/HOU/ECT@ECT
cc: Kay Mann/Corp/Enron@Enron

Subject: C. Kay Mann

Becky, could you run a time off report so Kay can see how much vacation time
she has left.  I don't believe I can do that for her.  You can just send it
to me, or whatever is easier.  Thanks, Suz


Thanks for note. Sounds like good progress on people side. It seems, like many things, that a huge effort is followed by a period of nothing, but eventually the balls that have been rolling generate enuf  "mo" to make a difference. Rick

 -----Original Message-----
From: 	Murphy, Ted
Sent:	Wednesday, July 18, 2001 2:59 AM
To:	Buy, Rick
Subject:	Get Better!

Rick,
The reports I am getting regarding you are quite encouraging.  Hope you continue to make progress without too much pain.  Don't talk unless you have to.  Could you imagine if I ever have that operation, there'd be blood everywhere!

I do not have anything in particular that would compel me to make you talk.  It is good to hear that you will be back in the office, because I am concerned that the Board stuff needs direction.  Not that people aren't working on stuff, but your perspective is needed.  We had what I think was an excellent meeting with Jeff Skilling - I chimed in by conference call.  He spent about an hour and 1/2 with David, Cassandra and me.  Had some interesting perspectives.  He did make the comment that, if he could get the same returns on incremental VaR, he would rather increase our limit to $250MM than do more of those asset deals!!

Things are generally the same around here, there are some deals, but none that would require you to step in.    Michael is trying to push to get some things closed in July because he is concerned that August will be dead.  It looks very likely that we are trying to dress up Encom for sale without making big commitments.
There have been a few problems that may come across your radar scope - there were some personell issues in the Henry Bath warehousing business that have been dealt with and some personell changes in metals, basically a few people let go in NY and London and a re-configuration of the commercial staff - merging of physical and financial.
It seems to be moving on the right track from a control perspective.  It remains to be seen on the commercial front.  EBS has gotten gutted here.  I have spoken to Steve.  Apparently, he is going back soon, but he is in the fortunate state of having a few decent offers to weigh internally. He hasn't told me his final decision.

We have lost a 2 more people to resignation on the credit side - Anna Reich and Karolina Moran.  I would have liked to have kept Karolina but she has been here 2 years and seems a little too bitter from the management changes and the lack of substantive change to refresh herself.  Anna was going to have to be replaced anyway.
On the positive side of the ledger, an ex-JP morgan ISDA Collateral Annex expert - Christine Stanchus - has joined yesterday, Pat Cini has been doing a good job, Rudi Z. plans to start on 8/15, Tracy Ngo is here looking around and thinking about early september, 3 from the outside have accepted and we have 4/5 other real prospects. There are also a few other internal transfers (one which we ought to discuss). We have reviewed hundreds of resumes, spoken to tons of agencies, put in 2 newpaper adds and interviewed maybe a hundred people.  Finally, we are starting to see some reasonable quality - a little more expensive, but much better.  Most hires/offers have been in the middle range - sr. Specialist - junior director.  We need to fill in the other ends of the spectrum.  It is possible that we have turned the corner....

I am hoping that when the days begin to get shorter (September 5th?), I will be in a position to actually start to make an impact around here.

Take care and let me know if there is anything personal or professional that I can do to reduce your stress.

Ted


"bunnies"?  BUNNIES?

Louise Kitchen
11/05/99 08:36 AM
To: Mark Taylor/HOU/ECT@ECT, Justin Boyd/LON/ECT@ECT
cc:
Subject: First Registration Form

---------------------- Forwarded by Louise Kitchen/LON/ECT on 05/11/99 14:38
---------------------------

David Port
05/11/99 09:28
To: Louise Kitchen/LON/ECT@ECT, Jay Webb/HOU/ECT@ECT, David
Forster/LON/ECT@ECT, Marcello Romano/LON/ECT@ECT
cc:
Subject: First Registration Form

Looks like we had our first registration form in today from a company called
Projector S.A. with a rep office in Singapore and trading out of Belize.
Nice one for the Credit Tax and Legal bunnies....


These are key employees and a good mission statement for the Deer Lease
Winnebago business plan Erik and I were developing.

-----Original Message-----
From: Brian Constantine [mailto:brianc@saltgrass.com]
Sent: Wednesday, March 27, 2002 8:48 AM
To: EriK Wollam; Chet Fenner; chad knipe; Joe Parks
Subject: FW: Privacy Please

Men...this is a classic. My favorite is #20...
-----Original Message-----
From: Chris Bruder
Sent: Wednesday, March 27, 2002 8:43 AM
To: Brian Constantine; Jeff Stover; Jim Doxakis; Ken Pierce; Matt
Hanifen; Daniel Hill; Terry Turney
Subject: FW: Privacy Please

-----Original Message-----
From: Kelli Servello [mailto:k.servello@worldnet.att.net]
Sent: Tuesday, March 26, 2002 3:04 PM
To: John Servello; john servello; Ohsonnyboy@aol.com; Kollen Nelson; BJ;
msteed@pdq.net; Dwayne Miculka; Dave Kirk; Michelle Kerbow; Larry R
Kerbow; Rob Fuchs; Ed Fuchs; Frogman; Bart Frames; Earle Dardar;
cory@multisignals.com; Chris Bruder; BigJoe@JoeBeitler.com
Subject: Fw: The Perfect Woman!!!!!!!!


Once again it is our intention to have the $21MM count toward the Budget.
What is not firmly established is the total budget amount. We are removing
the contingency which reduces the budget but that is offset by some fuel oil
expense and F/X expense which is increasing.  Please plan for you and Laine
to be available Monday AM to make sure we are all on the same page once this
all settles.

Richard A Lammers
12/15/2000 05:14 PM
To: Felipe Ospina/NA/Enron@ENRON
cc: Tracee Bersani@ECT, Christiaan
Huizer/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Laine A
Powell/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rob G Gay/NA/Enron@Enron

Subject: Re: Cuiaba Lender Package

lets fight for the reduction in cash anyway

Felipe Ospina
12/15/2000 06:59 PM
To: Richard A Lammers/SA/Enron@Enron
cc: Tracee Bersani@ECT, Christiaan
Huizer/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Laine A
Powell/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rob G Gay/NA/Enron@Enron
Subject: Re: Cuiaba Lender Package

Ok. However, I dont see a reduction from cash from operations in the models
that were sent to the lenders in August by Roberto. I dont remember either
Robert or Roberto mentioning this assumptions at that time either. Thanks.

Richard A Lammers
12/15/2000 04:56 PM
To: Felipe Ospina/NA/Enron@ENRON
cc: Tracee Bersani@ECT, Christiaan
Huizer/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Laine A
Powell/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rob G Gay/NA/Enron@Enron

Subject: Re: Cuiaba Lender Package

Wait for Rob and send  to shell simultaneouse with the banks

Felipe Ospina
12/15/2000 06:46 PM
To: Richard A Lammers/SA/Enron@Enron
cc: Tracee Bersani@ECT, Christiaan
Huizer/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Laine A
Powell/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rob G Gay/NA/Enron@Enron
Subject: Re: Cuiaba Lender Package

I included cash from operations in the Project Cost Tab in the Consolidated
Model to match the reconciliation file that Tracee has which will be shown to
the lenders. If everyone agrees I can send to Shell so they can start
reviewing, but what Tracee told me was that she and Rob and want to sign off
first and they are still reviewing the models.

Richard A Lammers
12/15/2000 04:36 PM
To: Felipe Ospina/NA/Enron@ENRON
cc: Tracee Bersani@ECT, Christiaan
Huizer/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Laine A
Powell/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rob G Gay/NA/Enron@Enron

Subject: Re: Cuiaba Lender Package

hy are we excludung cash from the lender model.Did we not do this last time.I
think shell required this. We also need to put on these models that this is
Enron's latest update and send to shell simultaneaously or get shell's
approval first( which ain't going to happen quick)


Try this feed.

Attached are  EES's Volumetric NYMEX and Basis positions for 6/22/2000.

Thanks,

Kyle


Click here: Official Athletic Site, Oklahoma Sooners

This is interesting -- hadn't seen this chart in the press -- shows votes by
region -- you can see the west favorites us -- but the others....? ?Big 12
should have showcased OU and #14 more --- I think they were happy OU did what
they did, but the "days gone by when they all were jealous of OU' probably
still lingered in the Big 12 former Big 8 offices..........

If this doesn't open up to "regional vote" --look for a link titled something
like that....

Kenny


Mike:

The entities that have been set up in Argentina to conduct physical gas and
electricity trading will remain in place and will most likely be the entities
that will execute transactions.

A quick analysis of the tax issues that I see are as follows;

1.  Services performed out of Brazil on behalf of the Argentine companies
will have to be paid for on an arm's length basis by the Argentine
companies.  There will likely be a high withholding tax on such payments
unless there is a treaty provision between Argentina and Brazil that exempt
or reduce the withholding.  I will check on the treatment under the treaty.

2.  The issue of where the trading activity is managed will also be an
issue.  If only back office support is provided out of Brazil and payment is
handled per the discussion above, there will likely be no issue with
subjecting the actual trading transactions to tax in Brazil.  However, if the
trading activity itself is done out of Brazil, there are tax issues that must
be addressed.

I will begin addressing these general issues with local counsel.  However, as
soon as you can provide details of how the operations will be consolidated, I
can provide more precise guidance.

Regards

Lynn

To: Lynn Aven/NA/Enron@Enron, Brent Hendry/NA/Enron@Enron, Andrea
Calo/SA/Enron@Enron, Scott Mills@EES, Luis Juarros/SA/Enron@Enron, Allen W
Ueckert/NA/Enron@Enron, Guillermo Canovas/SA/Enron@Enron, Cristian
Folgar/SA/Enron@Enron, Rodolfo Freyre/SA/Enron@Enron, Julian
Poole/SA/Enron@Enron
cc: Joe Kishkill/SA/Enron@Enron, Orlando Gonzalez/SA/Enron@Enron, Miguel
Padron/NA/Enron@ENRON, Remi Collonges/SA/Enron@Enron, Brett R
Wiggs/SA/Enron@Enron, Mark Taylor@ECT, Carlos Bastos/SA/Enron@Enron

Subject: Argentina Trading in Brazil

We are in the process of working through the regional objective of
consolidating intellectual capital I.E. we want Argentina trading activity to
be consolidated into the Sao Paulo trading operations.

1 What are the tax,  legal, regulatory, accounting and operational
consequences of this move?

2 Are there any commercial restrictions I need to be aware of?

3 Are there any barriers to payments and receivable management?

4 Could accounting be managed out of Brazil?

5 Are there any Argentine banking requirements that would require the
payables and receivable function to remain in Argentina?

6 Are there any conflicts with Brazilian law or banking regulations?

7 Is there any additional taxation exposure such as in  the case of the US as
we decrease Argentina functional independence?

8 Are there any Argentine regulatory conflicts with operating out of Brazil?

9 Are there any Argentine legal conflicts with operating out of Brazil?

10 How do we and can we operate Enron America del Sur S.A. and Enron
Comercializadora de Energia S.A. out of Brazil?

12 If necessary what functions need to remain in Argentina to resolve any
legal, regulatory, accounting or tax issues?

13 Can the stack managers be live in both Argentina and Brazil to resolve any
identified issues?

14 Are there any legal or tax advantages to the Brazilian operational
structure?

15 Mostly are there any fatal flaws I need to be aware of?

Under this structure the stack managers for the following current and future
products will ideally be operated in Brazil:

Arg Gas  Onshore  Physical
Arg Power Onshore  Physical Pending local derivatives company

The stack manager for  Arg Power, Offshore, Financial will continue to be
operated from North America as designed and agreed upon.

I need a quick readers digest version of what I am up against here. We can
get into more details as we proceed.

Please advise ASAP (Monday morning if possible with the short version) so I
can proceed with the best way to accomplish this organizational objective and
corresponding structure.

MFG


Thanks for the prompt info!!  I hope we can help this guy get his power plant
built.  DF

	From:  Jeff Nielsen                           10/02/2000 10:31 AM

To: Drew Fossum/ET&S/Enron@ENRON
cc: Jo Williams/ET&S/Enron@ENRON

Subject: Pale Verde 8 years out

I was not able to get the bid offer spread but I was able to get the mid
market for 8 years out:

2003           50.25
2004           43.5
2005            43.5
2006             43.50
2007             43.65
2008            44.25
2009             45
2010             45.75

I also checked with my buddy about why the value of Pale Verde value tails
off in the out years.   He says it is because a large part of there power
supply is generated by hydro plants and part of the spike this year was
created by the lack of moisture this past winter.


Good afternoon Rev. Jackson.

So nice to hear from you, I'm glad we';ve got this e-mail business figured
out.  Hope your day is going well.  Sometime, please tell me what "A Day in
the Life of Rev. Jackson" is like at SWCBC.  Do you see alot of people all
day long (during the day)?  So often, it's hard to picture the church as
being active all day long.  It just seems like people attend meetings and
services about twice a week in the evenings.  Funny, how we get perceptions
in our heads.

My day is going pretty good so far, I'm back to making money in my "book"
here at work and it sure feels good.  I've always remembered what you told me
during my "crisis period" and always keep those things in mind.  The one that
I like the best is "Just keep your mind stayed on him, He'll keep you in
perfect peace".  I take that with me everywhere I go.

Well, anyway, thanks for the words of encouragement.

Appreciate it!


I have marked my suggested changes (red) to the latest draft warranty clause
attached below which also includes GE's previous comments (blue).  Absent
further comments from you or those copied on this Email, please incorporate
this markup into the standard contract.

Regards,

Scott


Please respond to Great idea, Byron!

Everybody,

I've created a new moderated list at http://BammelYoungFamilies.listbot.com/

If you are interested in hearing info (from anyone, not just me) about the
Bammel Road Young Families class, please go to the address above to
subscribe to the list.

It's free.

Then, if you have anything that you want to share with the class, just
e-mail it to BammelYoungFamilies@listbot.com.

-Ram.

 -----Original Message-----
From: 	Byron W. Ellis, CFP, CLU, ChFC [mailto:byronellis@usa.net]
Sent:	Friday, March 30, 2001 8:31 AM
To:	Ram Tackett
Subject:	E mail list for class

What do you think about creating and maintaining an e mail address that will
automatically send an e mail to everyone in our class?  That way anyone that
wanted to blanket the class could always do so without going through you all
the time.

Byron

"Make all you can, save all you can, give all you can."

               JOHN WESLEY

Byron W. Ellis, CFP?, CLU, ChFC
Senior Financial Advisor
American Express Financial Advisors
IDS Life Insurance Company
1450 Lake Robbins Drive
Suite 100
The Woodlands, TX  77380

Phone	281.367.8658
Fax	281.364.9628
E mail	byronellis@usa.net


Dick, use this worksheet to calculate NIPSCO's price.

Scott, Dick may have you look at this.  The prices in Column H are for
capacity demand charges.


---------------------- Forwarded by Chris Dorland/CAL/ECT on 07/21/2000 03:42
PM ---------------------------

	Enron Capital & Trade Resources
	Canada Corp.

	From:  Ryan Watt                           07/21/2000 03:23 PM

To: Chris Lambie/CAL/ECT@ECT, John Disturnal/CAL/ECT@ECT, Jonathan
McKay/CAL/ECT@ECT, Chris Dorland/CAL/ECT@ECT, Chad Clark/CAL/ECT@ECT, Michael
Cowan/CAL/ECT@ECT, Jeff Pearson/CAL/ECT@ECT
cc:
Subject: HandsFree Kits - $2

Listen up,

Let me know if anyone of you is interested in getting one...
One of my friends has started his importing business selling handfree kits
for mobile phones.  Basically, this new product from Turkey can work with
Ericission, Motorola, Nokia and all kind of mobile phones including any new
WAP phones.  As a promotion item it costs only $2 each with limited stock
available.  For your reference, I've attached a picture showing the product.

Please let me know if you would like to buy one

>  <<HANDSFRE.JPG>>

 - HANDSFRE.JPG


Dear Cassandra,

In looking at the comments below there are several errors made buy us, one in
the template itself, and some suggestions.  At your request, we have started
to prepare this in addition to the normal word violation/notification memos
and our other work.  As you have certain requests and requirements, it would
be helpful for someone in your group to review it before it went out to
ensure it meets your requirements.

Please let me know if this is workable and who the reviewer should be.

Thanks,

Shona

To: Michael Benien/Corp/Enron@ENRON, Chris Abel/HOU/ECT@ECT, Shona
Wilson/NA/Enron@Enron, Daniel Falcone/Corp/Enron@ENRON
cc: Veronica Valdez/HOU/ECT@ECT

Subject: 12/5 Limit Violations and Notifications - Comments

I realize this has already gone out, but I see a few errors that we should
correct  - and actually, I think we should call Skilling and Lay's (and
Buy's) assistants (Veronica will handle this) and see if we can just hand
deliver to them a corrected version early this morning, e-mail is OK for Ted,
David and I. I have a few other suggestions on format/reporting changes as
well.

The NA Power VaR of $51MM was not 105% over its VaR limit of $50 - that would
have been $52.5 to require a report to Skilling, (but if we had had to report
it, don't use "WSCC", try to spell out or just don't use)
UK Gas's VaR limit is not $4, it's $7.5MM
I can't tie in UK Gas' QTD and YTD P/L - shouldn't it be what's on the DPR,
adjusted for the portion of the structured derivatives that is gas - call
over to that Yeo person and get the info. from them please
The 2nd item for NA Gas shouldn't be listed like that as it looks like
another violation - the comment re: the VaR increase was mean to go at the
bottom under RAC comments
The Finance Committe Chairman notification for Agg. VaR is not 100%, it's
115% (notification requirement box)
EES had a VaR violation - $7.5 vs. 7 - that is a Skilling level violation
Let's have the "Re:" say "Limit Violations and Notifications for December 5,
2000"
Let's number them all sequentially rather than starting over at each level

Veronica will call you to coordinate re-distribution.

Going forward, we need to increase our level of review for these as they're
getting a lot of scrutiny given market dynamics and our increasing risk.

Thank you,
Cassandra.

---------------------- Forwarded by Cassandra Schultz/NA/Enron on 12/07/2000
07:38 AM ---------------------------

Michael Benien
12/06/2000 07:08 PM
To: Kenneth Lay/Corp/Enron@ENRON, Rosalee Fleming/Corp/Enron@ENRON, Jeff
Skilling/Corp/Enron@ENRON, Sherri Sera/Corp/Enron@ENRON, Rick
Buy/HOU/ECT@ECT, Karen K Heathman/HOU/ECT@ECT
cc: Cassandra Schultz/NA/Enron@Enron, Ted Murphy/HOU/ECT@ECT, David
Port/Market Risk/Corp/Enron@ENRON, Chris Abel/HOU/ECT@ECT

Subject: 12/5 Limit Violations and Notifications


Notice # 01-162
May 11, 2001

TO:
All NYMEX Division Members and Member Firms

FROM:
Neal L. Wolkoff, Executive Vice President

RE:
Reminder and Clarification on NYMEX Division Post-Close Trading Sessions

DATE:          May 11, 2001
===========================================================
Reminder
Changes will be going into effect today, Friday, May 11, 2001 for the End
of Week post-close trading sessions and also, beginning on Monday, May 14,
2001, for the Monday-Thursday post-close trading sessions. The trading
range for all of these sessions will be expanded by adding the following
ticks above (below) the daily high (low) for the applicable contract month
(provided that this expanded trading range does not violate the maximum
permissible price fluctuation limits then in effect):
Crude Oil      20 ticks
Heating Oil         50 ticks
Unleaded Gas        50 ticks
Natural Gas         50 ticks

     Clarification
Previously, the trading range for the Monday-Thursday sessions was the
closing range for the applicable contract month. Exchange staff interpreted
the rule to provide that if a contract month did not trade during the
close, there would be no closing range and thus it would not be permissible
to trade that contract month during the post-close.  Now, as noted above,
the post-close session trading range on any day of the week will be an
expanded version of the daily range. Therefore, the Exchange is issuing the
following clarifications as to the contract months that can be traded
during a post-close session (on any day of the week):

1.   Only the first twelve listed contract months are eligible for trading
in the post-close.

2.   If a particular contract month does not trade during the RTH session,
it may not be traded during the post-close.

3.   It is not necessary for a contract month to trade during the close in
order to be traded in the post-close as long as it has traded during the
RTH session.

If you have any questions concerning these changes, please contact George
Henderson, Vice President, NYMEX Floor Department, at (212) 299-2071; Rob
Stasi, Manager of Trading Floor Systems, NYMEX Floor Department, at (212)
299-2067, or Brian Regan, Senior Associate General Counsel, at (212)
299-2207.

      Carr Futures
      150 S. Wacker Dr., Suite 1500
      Chicago, IL 60606  USA
      Tel:  312-368-6149
      Fax:  312-368-2281
      soblander@carrfut.com
      http://www.carrfut.com


ole0.bmp
As you already know Ozzie Pagan is leaving East Power Origination to pursue a
position in Enron's Energy Services.? Not only is he deserting us, but he is
stealing Christy Chapman away as well! (smile) Please join me in
congratulating them both, and wishing them much success in the future.? To
see that they don't forget us too soon, let's make his and Christy,s farewell
a memorable one.? And what better way to do that than, of course.....Happy
Hour....yea baby!

ole1.bmpole2.bmpole3.bmp

??????? ???????? When?: Friday, 4/27/01
??????? ??????? ??????? ??????? 5:00 pm - until they throw us out
??????? ???????
??????? ??????? Where?: Slainte Irish Pub
??????? ??????? ??????? ??????? 509 Main St.

??????? ??????? Why?:??? Why NOT ?(.

see ya there!
claude
??????? ??????? ????????
???????????????????
??????????????????????????

ole4.bmp?
 - ole0.bmp
 - ole1.bmp
 - ole2.bmp
 - ole3.bmp
 - ole4.bmp


pls print.  thanks. df
---------------------- Forwarded by Drew Fossum/ET&S/Enron on 05/12/2000
10:59 AM ---------------------------

Jan Cobden
05/12/2000 10:06 AM
To: Drew Fossum/ET&S/Enron@ENRON
cc:

Subject:

Please see attached memo from Lou Soldano.  Thank you.

---------------------- Forwarded by Jan Cobden/ET&S/Enron on 05/12/2000 10:03
AM ---------------------------


I'm going to work out after work today.  Should be home around 6-6:30


Do you know that Friday November 10 is a UC Berkeley holiday?  Can you take
off work so we can have a 3 day weekend?  Also, there is a mushroom & wine
festival in Mendocino that weekend.  Are you interested in any of the
following?

Friday November 10
8 am - 6 pm
Wine & Mushroom Symposium
Camp Mendocino via the Skunk Train -- Includes talks, chefs panel, lunch,
foray, wine & mushroom tasting & train ride
$135

Friday November 10
1 pm
Guided Mushroom Walk
With Gardens Nursery Manager Allen Palacios Mendocino Coast Botanical
Gardens, South Highway 1, Fort Bragg
$6

Friday November 10
5 pm - 7 pm
Wine & Mushroom Reception
With Wine Country Gourmands and Navarro wines at the Lodge at Noyo River,
Fort Bragg
$10

Saturday November 11
11 am
Guided Mushroom Walk
With Vince Viverito & Henry Young Van Damme State Park
$10

Saturday November 11
1 pm - 2:30 pm
Cooking Demo
Taming the Wild Mushroom with chef Silver Canul and Husch wine tasting at
the Little River Inn

Saturday November 11
2:00 pm
Wild Mushroom Exhibit Reception at the Ford House in Mendocino

Saturday November 11
5 - 7 pm
Wine & Mushroom Reception
With Wine Country Gourmands and Navarro wines at the Lodge at Noyo River,
Fort Bragg
$10

Saturday November 11
5 pm
Price Fixed Mushroom Menu
With Lolonis wines at The Ravens, Stanford Inn by the Sea

Saturday November 11
5:30 - 7 pm
The Wines of Anderson Valley
Wine tasting and mushroom appetizers at Inn at Schoolhouse Creek & Dennen's
Victorian Farmhouse
$10


As you know, 33,000/d at La Maquina does not equate to 33,000/d at either the Arkansas Loop Plant or the new receipt point with Red Cedar in the La Plata station yard.
(According to Ron, it's a matter of physics!!)  Anyway, Red Cedar will be using the new receipt point on an alternate basis, so to the extent gas is not coming in at La Maquina, they'll be able to flow some amount of incremental through the new point.  If we sell 33,000/d primary firm out of La Maquina, it would back off the alternate gas at the new Red Cedar point.  My opinion is that if we can find a party to buy the 33,000/d from La Maquina - go ahead and do it because we've never made a representation to Red Cedar that the new point capacity is associated with any line capacity.  Does that answer your question?

 -----Original Message-----
From: 	Hyatt, Kevin
Sent:	Wednesday, May 09, 2001 4:47 PM
To:	Lindberg, Lorraine
Cc:	Watson, Kimberly
Subject:	FW: Capacity South of Ignacio

I just want to confirm, this 33,000/d capacity is what Red Cedar will be using once the new interconnect is in place with them on the SJ lateral.  True or False?
kh

 -----Original Message-----
From: 	Donoho, Lindy
Sent:	Wednesday, April 18, 2001 4:51 PM
To:	Lindberg, Lorraine; Lokay, Michelle; Fawcett, Jeffery; Hyatt, Kevin; Lohman, TK
Cc:	Harris, Steven
Subject:	FW: Capacity South of Ignacio

Michelle was asking me about this capacity today, so I thought I'd resend this info.  We have 33,000/d of unsubscribed capacity on the Ignacio to Blanco line from La Maquina to either EP/Blanco or to I/B Link.  The customers scheduling volumes from La Maquina in the last 6 months are: Vastar, BRT, WESCO, Texaco, Amoco, Southern Company & USGT.

 -----Original Message-----
From: 	Donoho, Lindy
Sent:	Monday, March 12, 2001 5:10 PM
To:	Lindberg, Lorraine; Lokay, Michelle; Lohman, TK; Fawcett, Jeffery; Hyatt, Kevin
Cc:	Harris, Steven
Subject:	FW: Capacity South of Ignacio

Per Perry's message below, we do have 33,000/d we can subscribe south of La Plata "A" to Blanco.  The only receipt point with available capacity to go with this transmission capacity is WFS/La Maquina.  Shippers that have scheduled volumes at La Maquina in the last 6 months are:  Vastar, BRT, WESCO, Texaco, Amoco, Southern Company & USGT.  Let me know if I can be of further assistance.

 -----Original Message-----
From: 	Frazier, Perry
Sent:	Monday, March 12, 2001 4:38 PM
To:	Donoho, Lindy
Cc:	Lindberg, Lorraine; Matthews, Ronald; Schoolcraft, Darrell; Faucheaux, Eric; Alters, Dennis
Subject:	Re: Capacity South of Ignacio

There was a Burlington contract that I had in the tracker for 30 mmbtu/d from Ignacio to the I/B Link.  I have taken this 30 mmcf/d out of my files.  The line capacity south of La Plata A has been in the 700 mmcf/d.  Recent discussions have lead to a new lateral capacity revision to  705 mmcf/d, but the EBB posting was still using 700.  I have made the correction to the spreadsheets and the EBB to reflect the new increase in capacity.

In addition, the new available capacity on the EBB for the rest of 2001 is now 33 mmcf/d, south of La plata to Blanco Hub.   Call me with any questions.

From:	Lindy Donoho/Enron@enronXgate on 03/09/2001 10:38 AM
To:	Perry Frazier/ET&S/Enron@ENRON
cc:	Lorraine Lindberg/Enron@enronXgate, Ronald Matthews/ET&S/Enron@ENRON

Subject:	Capacity South of Ignacio

I would like to confirm the availability of 27,800/d of transmission capacity south of the La Plata "A" compressor.  It has been my understanding that the capacity of the facilities is 500,000/d through the La Plata "A" compressor south to Blanco and that the capacity of the facilities south of the La Plata "A" compressor is an additional 200,000/d south to Blanco, for a total of 700,000/d.

Northwest Pipeline holds 23,811/d of southflow capacity through the La Plata "A" compressor.  That is all of their southflow capacity.  So, TW has 476,000/d of capacity from La Plata "A" and the whole 200,000/d of southflow capacity south of La Plata "A" to sell.

I show that we have 476,000/d subscribed through the La Plata "A" compressor south.  I show that we have 172,200/d subscribed south of La Plata "A", leaving 27,800/d unsubscribed south of La Plata "A".  I understand that the capacity at the Red Cedar/Arkansas Loop receipt point is fully subscribed at 205,000/d (12,500/d Southern Utes, 125,000 Red Cedar, 13,500/d Texaco, 21,200/d BP Energy & 32,800/d NWPL), but the capacity that's reserved for NWPL at this interconnect is related to NWPL's northflow transmission capacity, so it should not be included in the southflow totals.

Therefore, I would like to confirm that there is 27,800/d of southflow capacity south of La Plata "A" that could be sold from a receipt point other than Arkansas Loop.  Basically, the transport would have to come from the WFS/La Maquina receipt point and deliver to either I/B Link or EP/Blanco.

Please let me know if you agree.  Ron, if you could assist, it would be greatly appreciated!


Per Mary Clark x37325


Mark, Mark and Mark:

I have reviewed the attached power curve and clearly it will not help in
formulating an answer to your question.

I would like to ask Mark Fisher to look at a typical installation (any one of
our field sites) and give us data on kWh consumed by several turbines over a
multi-month period with data arranged month by month. Perhaps one or two
turbines at Monfort would be the best because we can look at a whole year of
data. This would tell us what was produced and what was consumed in energy.

Mark Eilers, what do you think?

Regards

KLC

Mark Ratekin
05/14/2002 04:24 PM
To: Kevin Cousineau/EWC/Enron@ENRON
cc: Mark Fisher/EWC/Enron@Enron, Mark Eilers/EWC/Enron@ENRON, Hollis
Kimbrough/EWC/Enron@ENRON

Subject: Re: Consumption for for GE1.5

Attached is the final power curve results from the Tehachapi 1.5 Prototype,
which includes the power consumption.  The page was scanned from the NREL
Test Report.  If you have any questions or need the entire document feel free
to contact me.

Best Regards,

Mark


---------------------- Forwarded by John J Lavorato/CAL/ECT on 12/27/99 02:49
PM ---------------------------

Bryan Seyfried
12/23/99 01:48 AM
To: EnronCredit.com
cc: Credit Trading
Subject: EnronCredit.com

As many of you already know, we have officially embarked on building a
commercial credit trading business based in Europe but globally focused with
trading operations in London and Houston.  We are focused on externally
launching the business by making two way prices on approximately 200 energy
credits in the US, Canada, UK and Nordic markets by 24 Jan. 2000 but we
expect to scale up the number of reference credits that we quote on very
quickly.  The initial names have been selected and provided to the credit
department in both locations for initial review and will be subsequently
distributed to the appropriate trading and origination groups for review
prior to going live.  The intent is to capture as much of the corporate
credit market as possible, as quickly as possible, by leveraging our internal
resources (people, processes and systems especially EnronOnline) and the new
mediums for communication.    To this extent, any ideas that you might have
for getting the eyeballs of potential counterparties please let us know.

This email marks the first of regular updates on our credit trading
initiatives.  We will use this as a mechanism to keep all of you in the loop
as to where we are in the implementation process and solicit your input on
ways to integrate credit products into your existing business models and
customer base.


Per our discussion, attached is the current form of Enron Corp. Guarantee
used to support trading under the EEI wholesale power bilateral master.


Lara:
I would very much like to attend but have a meeting scheduled that day with
Chris Calger (ENA) and the CEO and CFO of Sempra Energy (we're trying to do a
deal with them).   That's a date that I can't change.  I can meet on Nov.
3rd, or Nov. 7-9.  Hope it's possible to re-arrange

Best,
Jeff

	Lara Leibman
	10/20/2000 07:41 AM

		 To: Jeff Dasovich/NA/Enron@Enron, Mike
Dahlke/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
		 cc: Sue Nord/NA/Enron@Enron, Donald Lassere/Enron Communications@Enron
Communications
		 Subject: Tax, Legal, Regulatory and Accounting Meeting

Jeff and Mike,

Our first meeting has been scheduled to take place on November 2nd.  The
meeting will probably last half a day and will begin around 1pm.  Please let
me if you plan to attend.  Thanks and have a great weekend.

Regards,
Lara


Mike,

You can come down anytime.  The mornings will be the best time to learn, but
you can spend as much time as you want.  Since things are so crazy, I may not
be able to answer all of your questions immediately, but can answer them
later.  I will probably be on vacation next Mon and Fri.  You can start with
me tomorrow or next Tuesday, it's up to you.  We usually start trading around
8:30.  We usually start the day at 7:30 with the Gas Control and Weather
meeting.

D

Michael Olsen@ENRON
12/07/2000 02:29 PM
To: Daren J Farmer/HOU/ECT@ECT
cc:
Subject:

Daren,

I was wondering if it would be OK for me to sit in with you one day to get a
general feel of your end of the process.  Pat had told me before he left that
it would help me better grasp the process as a whole.

I understand the imminent cold weather is making things crazy, so now may not
be the best time to be in your way.  But let me know if I can spend a day,
morning, or even just an afternoon down there with you whenever it is a good
time.  I think it will help me very much in my role.

Thanks.

Mike


Steve,

I am a lead recruiter at the University of California at Berkeley for
Enron Analyst/Associate program.

I contacted several friends who work at Berkeley and received an invitation
from one of them to make a presentation at the weekly Faculty Seminar
of the Dept. of Industrial Engineering and Operations Research.

The students and faculty members from the business school will be also
invited.

Berkeley in general, and Department of Industrial Engineering and Operations
Research in
particular, are important centers of academic research on electricity markets
(S. Oren works very closely with Severin Borenstein).

My presentation will focus on the Analyst/Associate program. I shall  also
have
an opportunity to discuss the power markets in California (I expect many
questions) before many experts who are very  important to shaping
public opinion and regulatory agenda.

Please, let me know who in you group could help me in preparing this
presentation
and in presenting  Enron's point of view in a more effective way.

Vince

FYI. The name of my friend who invited me:

Shmuel S. Oren, Professor
Dept. of Industrial Engineering
and Operations Research
4117 Etcheverry Hall
University of California
Berkeley, CA 94720-1777


John:
I have reviewed the insurance article and would not mind recommending a few
minor changes but respect your wishes not to. However, I did find a couple of
places where it is definitely needed.

After speaking with a few marine experts at Wortham I have found our Hull &
P&I wording to be deficient [did this on another project]. I believe Clause
19.1.4 should be changed to the following recommended wording. You are
welcome to change the limit [$10 million] but I think the wording is more
appropriate for all agreements going forward.

Hull & Machinery and Protection and Indemnity Insurance. Seller shall ensure
that if any owned or non-owned watercraft of any kind is used for performance
of the Work, Hull & Machinery and Protection and Indemnity insurance shall be
provided for the vessels in the amounts as follows:

Hull & Machinery:
Full current market value of the watercraft.

Protection &Indemnity including excess collision liability [unless otherwise
provided by the hull coverage]:
$10,000,000 each occurrence or the full current market value of the vessel,
whichever is greater.

Such insurance may be provided by the vessel operator or by Seller as Seller
deems appropriate.

The aircraft clause needs a couple of changes:

In Clause 19.1.6 insert &aircraft8 after &non-owned8 in the third line.

Such insurance may be provided by the aircraft operator or by Seller as
Seller deems appropriate.

Please let me know if you have any questions.
Paul

 -----Original Message-----
From:  Rigby, John
Sent: Tuesday, May 15, 2001 5:07 AM
To: Marshall, David; Parrish, Paul E.
Cc: Tweed, Sheila; Mann, Kay; Dieball, Scott
Subject: GE- World Hunger

David and Paul:

As you are aware Sheila Tweed has been championing achieving a standardized
turbine purchase agreement with GE for domestic applications.  Attached is
the current draft of such document.  Please review the insurance provisions
to see if there are any changes needed.   I believe the current drafting is
what we have used in the past.

Given the technology issues of late do we need to make any changes.  This
would be for 7FA and LM6000 applications which I believe the market views as
proven technology so I assume we will not need to shift collateral damage to
GE and expose GE to insurer subrogation.

Scott Dieball and I are in London- Enron House.  Today Tuesday our telephone
number is  44-207-783-0517.   Please call at your earliest convenience so we
can discuss conceptually.

I would prefer not to make drafting changes for the sake of style at this
point.

 << File: GE Agreement - Version 4(jr).DOC >>


I like those!


Did you look at it on the website?  It looks like fun.  Michael and I could
probably have fun on the quiet water days.  I'll need a ladder, so I'll have
to break the news to Pop Pop.

Kay

"Neil Mann" <nmann@erac.com> on 03/14/2001 11:07:35 AM
Please respond to <nmann@erac.com>
To: <Kay.Mann@enron.com>
cc:

Subject: RE: more kayak

Pretty cool!
So do you want a kayak for Spring Break next week? You will need a roof
rack. I'm sure REI has what we need. NM

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Wednesday, March 14, 2001 10:44 AM
To: nmann@erac.com
Subject: more kayak

www.dagger.com.... and look at the Products, Recreational Kayaks section.

I am selling my Bayou II kayak by Dagger.  It is a two person, enclosed
style, kayak perfect for enjoyable kayaking with a special friend or family
member.  Especially good for fishing because one person can paddle and
position the boat while the other fishes.  Fast and extremely quiet!!!

$749 Retail(camo $50 extra), will sell for $ 550
2 person, tandem
polyethylene outer layer
camoflage color
wide cockpit and very stable
bow seat slides and locks for single person use
padded seats with adjustable back rests
bow deck rigging with recessed fittings
carry toggles(handles)
includes bow and stern inflatable flotation inserts
weighs 65 lbs
13 ' 6 " long
Max Load 450 lbs.


CALENDAR ENTRY:	APPOINTMENT

Description:
	Harry/Update on Current Issues/Mobil & OXY/PVR to meet in Lynn's Office

Date:		11/21/2000
Time:		2:00 PM - 2:30 PM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


Rasmussen, Dale would like to recall the message, "tolling".


Here is a list for the schedulers downstairs...we will get you a more completed one later.
 -----Original Message-----
From: 	Saldana, Alex
Sent:	Friday, November 16, 2001 3:54 PM
To:	Rangel, Ina
Subject:	STENO NUMBERS

INA,

THIS IS WHAT WE HAVE FOR NOW.  MONDAY EVERYONE THAT DOES NOT HAVE A STENO WILL.  IF YOU NEED THE LIST OF NEW STENOS PLEASE  CONTACT BRANDEE JACKSON BECAUSE I WILL BE OUT ON VACATION.

THANKS.  SORRY IT TOOK SO LONG.

Alex Saldana
Administrative Assistant
Enron Networks
(713) 345-7389


525523 - Enron buys Duke, March, NP-15, 50 mw, $265 - MISSING BROKER - I'VE
ADDED PREBON

Mike just entered his deal - 525558

Can't locate the last deal - left message for Diana - I'll let you know.

Evelyn Metoyer@ENRON
02/16/2001 12:31 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: 2/16 Prebon Checkout

Diana
I am missing the following deal:
Enron sell to Avista daily Mid-C at $325

Sean
I am missing:
Enron buys Duke March NP-15 at 50mw at $265

Mike
I am missing:
Enron buys from Mirant Q3'01 PV 25 mw at $410.

Thanks!!


Thanks, Jeff.

Not to be picky, but........ I think there is a typo in the document - see
Section 1, under "The Solution", bullet point 4 - - "who's" should read
"whose".  I assume we would want to make this change before we use it again.

Jennifer


-----Original Message-----
From: webmaster@cera.com [mailto:webmaster@cera.com]
Sent: Thursday, October 04, 2001 9:00 PM
To: clients@cera.com
Subject: California Regulators Suspend Direct Access to Competitive
Energy Suppliers - CERA Decision Brief

Title: The End of Retail Electric Competition in California
URL(s):

http://www20.cera.com/eprofile?u=35&m=2713;

http://www20.cera.com/eprofile?u=35&m=2714;

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

CALIFORNIA REGULATORS SUSPEND DIRECT ACCESS TO COMPETIIVE ENERGY SUPPLIERS

California, once considered a harbinger of retail electricity deregulation, is
reversing its previous efforts to create a competitive market for electricity.
Suspending direct access is the latest--though probably not the final--event in
an ongoing series of developments and unique conditions that has made
deregulation a rocky road for players in the California market.

*  This decision should not be interpreted as a rejection of the merits of
retail competition, but rather understood as a decision peculiar to the events
in California that have unfolded over the past 18 months.

*  The ruling was motivated by the state's need to provide a stable investment
environment to support its impending $13.4 billion bond offering to cover
energy related costs.

*  The demise of retail competition in California may delay other states'
efforts to open their markets. However, most states face a very different power
generation situation, practically ensuring that events in California will not
be repeated in their markets.

*  From a market perspective this may actually be an ideal time to push forward
with retail choice programs, as many markets move into surplus capacity
situations.

**end**

Follow above URL for complete Decision Brief (10 printed pages).

E-mail Category: Decision Brief
CERA Knowledge Area(s): Western Energy, Retail Energy

***********************************************************************
***********************************************************************
On September 17, CERA Chairman, Daniel Yergin, led a Global
Client Conference Call discussion on the potential economic
and energy industry fallout from the recent terrorist attacks
on New York and Washington DC.

The playback of this conference call is now available at on the
web at http://www.cera.com/highlights/teleconf_20010917/
or via telephone at: 1-888-203-1112 (within the United States)
or 719-457-0820 (outside the United States). Please use
confirmation number 784004 to access the call playback.
The playback is available until October 17, 2001.
***********************************************************************
***********************************************************************
CERA's Autumn 2001 Roundtable event dates and agendas
are now available at http://www20.cera.com/event
***********************************************************************

To make changes to your cera.com profile go to:
http://www20.cera.com/client/updateaccount

Forgot your username and password? Go to:
http://www20.cera.com/client/forgot

This electronic message and attachments, if any, contain information
from Cambridge Energy Research Associates, Inc. (CERA) which is
confidential and may be privileged. Unauthorized disclosure, copying,
distribution or use of the contents of this message or any attachments,
in whole or in part, is strictly prohibited.
Terms of Use: http://www20.cera.com/tos
Questions/Comments: webmaster@cera.com
Copyright 2001. Cambridge Energy Research Associates


Ben:

I reviewed the attached questions.  Due to their technical nature, I should
defer to Ross's judgement for the appropriate answers.

Ross:
Please cc me on the answers so that I can become more familiar with these
issues.  I will be at the Lincoln plant by 8:00 tomorrow morning.

Thanks,
Fred

Benjamin Rogers
10/24/2000 11:18 AM
To: Ross Newlin/HOU/EES@EES, Fred Mitro/HOU/ECT@ECT
cc: Don Miller/HOU/ECT@ECT
Subject: More Lincoln Questions

Here are some more questions.  These guys are only bidding on Lincoln, so all
of these should be just Lincoln questions.  Thanks again for your help with
these.
Ben
---------------------- Forwarded by Benjamin Rogers/HOU/ECT on 10/24/2000
11:17 AM ---------------------------

"Michael P Cazaubon" <michael.cazaubon@exeloncorp.com> on 10/24/2000 11:06:42
AM
To: benjamin.rogers@enron.com
cc: "David L Stewart" <david.stewart@exeloncorp.com>
Subject: More Lincoln Questions

Ben,

Thanks for the response on the first set of questions on Lincoln.  Attached
are some additional ones that we would appreciate your help on

Thanks!
Mike Cazaubon

(See attached file: Exelon Lincoln Q&A 10-24-00.doc)

************************************************************************
This e-mail and any of its attachments may contain Exelon Corporation
proprietary information, which is privileged, confidential, or subject
to copyright belonging to the Exelon Corporation family of Companies.  This
e-mail is intended solely for the use of the individual or entity to
which it is addressed.  If you are not the intended recipient of this
e-mail, you are hereby notified that any dissemination, distribution,
copying, or action taken in relation to the contents of and attachments
to this e-mail is strictly prohibited and may be unlawful.  If you have
received this e-mail in error, please notify the sender immediately and
permanently delete the original and any copy of this e-mail and any
printout. Thank You.
************************************************************************

 - Exelon Lincoln Q&A 10-24-00.doc


Attached is a revised letter to Jim Hawes.  Please review and provide me with
any comments.

Thanks.


Start Date: 4/19/01; HourAhead hour: 10;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001041910.txt


Start Date: 4/8/01; HourAhead hour: 20;  No ancillary schedules awarded.
Variances detected.
Variances detected in Energy Import/Export schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001040820.txt

---- Energy Import/Export Schedule ----
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 20 / Preferred:  12.00 / Final:  11.98)
  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 4/8/01
  TIE_POINT: PVERDE_5_DEVERS
  INTERCHG_ID: EPMI_CISO_BEAR
  ENGY_TYPE: WHEEL


Good Morning,

When a transmission deal is entered in blotter, for some reason the volume
also gets put in to the loss column as well, showing us with the full volume
on one end of the deal, and zero volume on the other.

This happened with two deals today,  deal 535344 and 535343 put into blotter
by Crandall.  Once the problem was identified, I went into the deal and
changed the loss volume to zero.

C


I have a problem keeping my cell phone battery charged up.  But, my pager still works so I'm wearing it if you guys need me.  My pager number is 877-498-5497.  Do not leave a voice message on it because I can't retrieve those.

Thanks


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Tuesday, June 5, 2001 No. 754
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GAS FUTURES
Henry Hub
12 Month Strip  4.2308  +0.1342
18 Month Strip  4.1707  +0.1256
| Month | High  |  Low  | Close | Change |
| JUL   | 4.110 | 3.960 | 4.069 | +0.139 |
| AUG   | 4.190 | 4.060 | 4.151 | +0.142 |
| SEP   | 4.210 | 4.150 | 4.188 | +0.142 |
| OCT   | 4.250 | 4.000 | 4.222 | +0.143 |
| NOV   | 4.410 | 4.350 | 4.387 | +0.143 |
| DEC   | 4.575 | 4.515 | 4.552 | +0.143 |
| JAN   | 4.615 | 4.615 | 4.620 | +0.143 |
| FEB   | 4.500 | 4.385 | 4.495 | +0.135 |
| MAR   | 4.340 | 4.290 | 4.325 | +0.135 |
| APR   | 3.970 | 3.930 | 3.955 | +0.115 |
| MAY   | 3.875 | 3.770 | 3.880 | +0.115 |
| JUN   | 3.920 | 3.900 | 3.925 | +0.115 |

PHYSICAL GAS PRICES
| Gulf/Eastern Region              |       |
| Agua Dulce                       | 3.83  |
| ANR SE                           | 3.84  |
| Carthage TG                      | 3.90  |
| Chicago Citygate                 | 3.95  |
| Columbia Gulf Onshore            | 3.90  |
| Dominion TTT South(CNG S. Point) | 4.15  |
| Henry Hub                        | 3.95  |
| Houston Ship Channel             | 4.02  |
| Katy Hub                         | 3.99  |
| NGPL - Midcontinent              | 3.82  |
| NGPL STX                         | 3.82  |
| NGPL TX/OK                       | 3.89  |
| Niagara                          | 4.13  |
| Sonat Tier 1                     | 3.87  |
| TCO IPP Pool                     | 4.12  |
| Tetco ELa                        | 3.85  |
| Tetco M-3                        | 4.23  |
| Tetco STX                        | 3.76  |
| TGP Zone 0                       | 3.81  |
| TGP Zone 1                       | 3.80  |
| TGT Zone SL                      | 3.90  |
| New York Citygate                | 4.24  |
| Transco Station 65               | 3.95  |
| Transco Zone 6 (NY)              | 4.24  |
| Trunk ELa                        | 3.83  |
| Western Region                   |       |
| California Border                | 9.26  |
| El Paso Permian                  | 4.05  |
| El Paso San Juan                 | 2.84  |
| Waha Hub                         | 3.60  |
| Canadian/Rockies Region          |       |
| Nova/Aeco (in C$/GJ)             | 4.87  |
| Dawn Hub/Union                   | 4.12  |
| Northwest Stanfield              | 3.36  |
| Wyoming Pool                     | 2.85  |
| Opal                             | 2.88  |
| PGT-Malin                        | 3.60  |
| Sumas                            | 3.32  |

POWER FUTURES
| Month  |   COB   | Change  |   PV    | Change  |
|  JUL   | 245.00  | -15.00  | 265.00  | -35.00  |
|  AUG   | 285.00  | -15.00  | 305.00  | -35.00  |
|  SEP   | 185.00  | -20.00  | 182.00  | -21.00  |
|  OCT   | 175.00  |  -5.00  | 122.00  | -13.00  |
|  NOV   | 120.00  | -30.00  |  87.00  |  -7.00  |
|  DEC   | 165.00  |  -5.00  |  94.00  |  -6.00  |
|  JAN   | 145.00  |  +0.00  |  70.00  |  +0.00  |
|  FEB   | 130.00  |  +0.00  |  60.00  |  +0.00  |
|  MAR   |  85.00  |  +0.00  |  60.00  |  +0.00  |
|  APR   |  62.00  |  +0.00  |  55.00  |  +0.00  |
|  MAY   |  62.00  |  +0.00  |  55.00  |  +0.00  |
|  JUN   |  62.00  |  +0.00  |  75.00  |  +0.00  |
| Month  | Entergy | Change  | Cinergy | Change  |
|  JUL   |  91.50  |  +3.50  |  86.00  |  +3.00  |
|  AUG   |  91.50  |  +3.50  |  75.00  |  +1.00  |
|  SEP   |  43.50  |  +4.50  |  37.00  |  +1.00  |
|  OCT   |  37.25  |  +1.25  |  35.00  |  +0.50  |
|  NOV   |  37.25  |  +1.25  |  35.00  |  +0.50  |
|  DEC   |  37.25  |  +1.25  |  35.00  |  +0.50  |
|  JAN   |  39.75  |  +1.25  |  38.25  |  +1.25  |
|  FEB   |  39.75  |  +1.25  |  38.25  |  +1.25  |
|  MAR   |  36.25  |  +0.75  |  35.25  |  +0.75  |
|  APR   |  36.25  |  +0.75  |  35.25  |  +0.75  |
|  MAY   |  41.50  |  +1.50  |  40.00  |  +1.00  |
|  JUN   |  53.50  |  +1.50  |  50.50  |  +1.50  |

POWER FUTURES
| Month |  PJM  | Change |
| JUL   | 83.00 | +0.00  |
| AUG   | 73.50 | +0.50  |
| SEP   | 39.75 | +0.50  |
| OCT   | 36.75 | +0.75  |
| NOV   | 36.75 | +0.75  |
| DEC   | 36.75 | +0.75  |
| JAN   | 42.00 | +0.00  |
| FEB   | 42.00 | +0.00  |
| MAR   | 37.75 | +0.25  |
| APR   | 37.75 | +0.25  |
| MAY   | 40.75 | +0.25  |
| JUN   | 51.25 | +0.00  |

NATURAL GAS OPTIONS
|       | Closing | Days | Implied ATM |
| Month |  Price  | Left | Volatility  |
| JUL   |  4.069  |  23  |   60.74%    |
| AUG   |  4.151  |  53  |   59.62%    |
| SEP   |  4.188  |  86  |   57.51%    |
| OCT   |  4.222  | 114  |   58.03%    |
| NOV   |  4.387  | 145  |   58.96%    |
| DEC   |  4.552  | 177  |   58.44%    |

PHYSICAL POWER PRICES
|            |  High   |   Low   | Average |
|            |  $/MWh  |  $/MWh  |  $/MWh  |
| Cinergy    |  23.00  |  20.00  |  21.40  |
| ECAR       |  24.30  |  21.95  |  23.20  |
| ERCOT      |  39.00  |  38.00  |  38.50  |
| Entergy    |  31.00  |  30.25  |  30.65  |
| TVA        |  29.45  |  28.40  |  28.95  |
| ComEd      |  23.00  |  21.00  |  22.25  |
| PJM West   |  26.75  |  24.75  |  25.80  |
| Main       |  23.00  |  19.50  |  21.85  |
| MAPP       |  23.00  |  19.50  |  21.75  |
| Palo Verde | 140.00  | 111.00  | 128.95  |
| Mid C      | 100.00  |  98.00  |  99.75  |
| COB        | 105.00  | 100.00  | 102.50  |
| 4 Corners  | 126.00  | 124.00  | 125.00  |
| Mead       | 140.00  | 145.00  | 142.50  |
| NP 15      |   n/a   |   n/a   | 113.05  |
| SP 15      | 118.00  |  95.00  | 107.50  |
_______________________________________________

Today's Power Bulletins
 * Electricity Rationing Hammers Brazilian Residents
 * Peabody Energy Expects $15 Million 2nd Quarter Pre-Tax Gain
 * Public Service Enterprise Group to Sell Up to 430 MW to California Department of Water Resources for 10 Years
 * Capstone Turbine Shares Tumble Over 8% on Concern Company's Microturbines Have Not Developed as Quickly as Expected
 * Lenders to Enron's Troubled Dabhol Power Company Meet in Singapore Today
 * Governor Says Californians Responding to Energy Conservation Pleas
 * Virginia Approves AEP's 765-kV Transmission Line More than 10 Years After It First Sought Permission from State Corporation Commission
 * Capstone-Energized Hybrid Electric Bus Debuts in China
 * Sithe Files Response with FERC to NSTAR Complaint
 * Merrill Lynch Sees Continued Strong Growth in Energy Sector
 * Truequote.com Posts EnronOnline Prices on Its System
 * PacifiCorp to Acquire 50 MW from New SeaWest WindPower Facility; Fulfills Merger Commitment to Invest in Renewable Power
 * Mirant Begins Commercial Operations at 298 MW Natural Gas Fired Zeeland, Michigan Power Plant
 * Citizen Power Appeals FERC Decision to Ignore Its Authority Under Federal Power Act

More stories with bulletins at http://www.enerfactsdaily.com
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Today's Gas Bulletins
 * Big Oil Takes Unknown Adventure into Saudi Natural Gas Projects
 * TotalFinaElf Confirms It Has 30% Stake in Saudi Natural Gas Deal
 * Australia Gives BHP-Billiton Conditional Approval
 * Chief ALJ Asks for Hearings Extension and Hints FERC Could Reverse Earlier Decision that Found El Paso Innocent of Affiliate Standards Violations
 * Nova Scotia Will Not Support Revised Business Plan by Sempra Atlantic Gas that Would Fundamentally Change Its Franchise Agreement with the Province
 * CMS Energy's Panhandle Pipe Line Companies Wins Safety Achievement Award
 * Element Re Announces $60 Million Weather Insurance Transaction with Atmos
 * Energy Designed to Provide Protection from Losses Due to Warm Winter
 * James Harmon Rejoins Questar Board

Linking News stories available  on page 7 at http://www.enerfax.com ________________________________________________

Natural Gas Futures Rally Above $4

    Natural gas futures on the NYMEX jumped higher yesterday amid forecasts for above-average temperatures in Texas this week and revised predictions for warmer weather in July and August. The July contract gained $0.139 to $4.069 per MMBtu and August rose $0.142 to $4.151 per MMBtu. In spite of the price gain, it was a quiet day as none of the big players, Enron or El Paso, were very much involved. Industrial demand is on the rise again following weeks of declining natural gas prices was also seen as supportive. Some private forecasters have revised their summer predictions, and now believe July and August will be hotter than average. Summer forecasts have been changed to about 3  10 degrees above previous
prognostications. Forecasts hot weather in Texas this week also aided the rally. Also, last week's storage data may be a sign that industrial demand is increasing and utilities that switched to oil appear to be switching back, and the hurricane season has begun. However, the market is waiting for confirmation of the trend from tomorrows AGA storage report. If this weeks AGA injection number is 80 Bcf or less, the back of the bear could be broken, but most traders are expecting a much higher number. A rally to the $4.25 might encourage the funds to start covering their short positions. However, another triple-digit injection could keep the downtrend in place. Natural gas for next day delivery across the US and Canada jumped $0.20  $0.30 per MMBtu yesterday, driven by the futures rally. Natural for next day delivery at the Henry hub gained $0.23 to $3.95 per MMBtu.
________________________________________________

North American Gas Storage Conference
Storage 2001 - 2002:
Source of Stability or Chaos?
June 22, Houston

Find the answers at Ziff Energy's natural gas storage conference.  A blockbuster roster of industry leaders from the utility, trading, pipeline and storage sectors in each of the North American storage regions will present timely, relevant information you can use. This conference will assist you in making critical decisions about your natural gas storage strategy for peaking and the remaining seasonal base fill. The game has changed - storage strategy has been kicked up a notch from buying for seasonal fill to real-time risk management.

Session 1	Supply Shortage or Storage Inefficiencies: Last Winter's Saga
El Paso Corporation - Byron Wright, VP
Energy Information Administration, DOE - Jim Thompson, Industry Analyst
Keyspan Energy - David Manning, Senior VP, Corporation Affairs
Axia Energy - David Modesett, VP

Session 2	The Changing Storage Paradigm:
Dynamic Storage Service vs Seasonal Fill
AEC Storage & Hub Services Inc. - Rick Daniel, President
Williams Energy Marketing & Trading - Blake Herndon, Director, Risk Management
NiSource Inc. - T.J. Aruffo, VP Energy Supply Services
Enron North America - Paul Bieniawski, Director
Duke Energy Gas Transmission - David Nightingale, VP MHP

Session 3	Pricing it Right and Reducing Risk:
Can We Expect Stability or Chaos in Winter 2001 - 2001?
Aquila Energy - Mark Cook, VP The Exchange Center Conoco Gas and Power Marketing - Brad King, VP Storage
Sempra Energy Trading - Dan Guertin, Meteorologist

For more information or to register visit
http://www.ziffenergyconferences.com, call 1-800-853-6252,
or email us at gasconference@ziffenergy.com
________________________________________________

Natural Gas NYMEX Volume
01JLY   42,018
01AUG    6,361
01SEP    5,955
01OCT    6,625
01NOV    2,963
01DEC    5,306
02JAN    4,856
02FEB    1,967
02MAR    2,459
02APR    1,502
02MAY    1,629
02JUN      598
02JLY      623
02AUG      575
02SEP       41
02OCT      171
02NOV      118
02DEC       87
03JAN      113
03FEB        5
03MAR       80
03APR       67
03MAY       51
03JUN        1
________________________________________________

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As a paid subscriber you receive timely news the date of issue.  If you'd like to subscribe there is an order form on the back page of the newsletter.

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_________________________________________________

California PUC to Vote on Back QF Payments

     Pacific Gas and Electric and Southern California Edison would have to pay 15% of the money they owe to small power generators under an order to be voted on by the state PUC on Friday. But an organization representing the generators warned that approving the order would subject them to PUC regulation in addition to federal regulation, a problem they want to avoid. Many of the Qualifying Facilities have shutdown because they have not been paid hundreds of millions of dollars for power sold many months ago. Under an earlier PUC order, the utilities have been paying for QF power purchases since April and the small plants have been slowly returning to service. The order also proposes options for contract prices and incentive payments for excess power production by the QFs. The remaining debt would remain repayable, although the order says nothing about any future repayment schedule. The FERC ruled in May that the small power generators can sell electricity to third parties i!
f !
they have power available above and beyond the amount they need to meet their existing contractual agreements with the utilities.
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House Energy Chairman Says Nation Facing Crisis

   The chairman of the House Energy and Commerce Committee says that the entire US is likely to face rolling blackouts like those plaguing California unless swift action was taken to build new power plants and increase natural gas production. He says the nation's high-tech economy could come to a crunching stop without an expansion of energy infrastructure and argued that government-imposed price caps would not provide a solution to high electricity prices. The EIA forecasts the will need 1,300  1,900 new power plants in the next 20 years to keep up with a projected 45% increase in demand.
__________________________________________________

"New Horizons Solutions for the 21st Century"

An Energy Efficiency Workshop and Exposition
Kansas City, Missouri
June 3 - June 6, 2001

For more information go to http://www.energy2001.eee.doe.gov
_________________________________________________

California Largest State Economy

    A new report by the Commerce Department shows California makes up 13.2% of US economic output in 1999, the latest year for which data are available. That was well above the share of national economic output provided by the next largest state economies, New York at 8.1%, and Texas at 7.4%. From 1992 to 1999 California grew at a 3.9% annual rate, slightly higher than the 3.7% gain in national gross domestic product seen annually in the same period. Other Western states, including Nevada, Oregon and Washington all grew at a faster pace. Arizona, at a 7.3% annual rate of growth, was the fastest growing.
_________________________________________________

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______________________________________________

Deadline for PG&E Power Contracts Set

     A federal bankruptcy judge has ruled that PG&E has until June 29th to decide whether it will assume or reject energy contracts with a number of small generators who fear they will not be paid for future power. The judge also granted Calpine's request to postpone a hearing to determine whether the it can be released from its power contract until July 5th. If the judge allows Calpine and smaller Qualifying Facilities out of their contracts, they could sell their power for much higher prices on the spot market. But if PG&E assumes the QF contracts, it is required to immediately pay its pre-bankruptcy filing debts owed to them, totaling several hundred million dollars.
______________________________________________

FERC Approves Hydropower Increase

   The FERC has approved a temporary increase in hydropower generation at the Priest Rapids Hydroelectric Project in Washington to help California avoid power shortages this summer. The commission will suspend rules on the spilling of dam waters during fish migration season this summer, allowing Priest Rapids to produce an additional 219,600 MWh of power. It is suspending part of an interim requirement which allows the licensee to spill water for 16 hours a day during the summer. It will allow for an exchange of spill and power with BPA, assuring flexibility and reliability to the regional grid and protecting listed fish species. The FERC is also seeking comment on an alternative plan that would suspend spill for an additional 8 hours per day, boosting generation to the region by 109,800 MWh. Hydropower accounts for 65% of the Pacific Northwest's electricity generation.
___________________________________________________

Progas Storage Services, Inc

was recently organized to offer specialized natural gas storage services to marketers and end users servicing the upper Midwest and Northeast market regions along the major transmission systems in Indiana, Illinois, Kentucky, and Michigan. PGSMI has 10 bcf of potential working capacity which will offer service along TXG, ANR, Midwestern, and is currently evaluating for purchase another 21 bcf of potential working capacity which can be serviced by these and other systems in the region. PGSMI also explores for natural gas in the Gulf Coast region through a wholly owned subsidiary. Progas intends to go public through a route of private industry offerings, and an IPO or registration. For more information on services or the company mail to: gastorage@aol.com or for AOL mail to gastorage@aol.com; web site currently under construction at: http://www.progas.net/wip.

The company's executive and administrative office is located in Abilene, Texas with storage operations in Owensboro, KY and exploration operations in Corpus Christi, TX.

Progas Storage Services, Inc
8610 S. Hwy 277
Abilene, TX 79606

Ph 915 698 3699
Fx 915 698 2859
_____________________________________________

Westcoast to Expand Pipeline Capacity

    Westcoast Energy plans to expand it system by 250 MMcf per day of natural gas transportation capacity offered in two proposed pipeline expansions in western Canada and the Pacific Northwest. A recent open season to sell the capacity on the proposed pipeline expansions aimed at meeting a surge in demand from power plants was successful. Total volumes from both pipeline expansions, which could begin commercial service in 2003, would be more than enough supply for 1,500 MW of power generation. The expansions will link markets in the BC Lower Mainland and Pacific Northwest with supplies from BC, Alberta and the Northwest Territories. Westcoast is preparing to award 200 MMcf per day of expansion capacity on its Southern Mainline facilities to ten shippers with an average term of 27 years. It is also preparing to award 50 MMcf per day of new capacity on its Westcoast Alberta facilities to four shippers with an average term of 30 years.
______________________________________________

NGI Reports June Natural Gas Prices Plummet

    Following on a month of mild weather with robust storage additions, natural gas spot prices for June dropped more than $1 from first-of-the-month May quotes at most points across the country, with the majority of prices coming in between $3.60 and $3.80. The June prices also were significantly below same time last year levels, according to Natural Gas Intelligence. The blockbuster turnaround was in California, where prices took a precipitous dive, led by a more than $4 drop in the Southern California-PG&E price to $6.77. While still high enough above the rest of the country to qualify as a separate market, the Southern California Border average of $11.70, fell from $14.64 in May. It didn't require a crystal ball to predict the price drop for June baseload gas, since prices had been steadily declining in the May after-market. The mild weather through much of the country, except California, and lack of air conditioning load has allowed eye-popping 100 Bcf-plus storage fill!
s !
for four weeks in a row. Storage levels, which had been below normal for more than a year, have climbed out of the basement, finally topping last year's levels in the survey for the week ending May 25th. As the storage fill level increased throughout May, the June futures contract declined, going off the board Tuesday at $3.738, or roughly $1.20 below the close of the May contract. A year ago all indexes, including California's, ranged from the $3.50s in the Rockies to the $4.60s in the Northeast. Now Northeast city-gates in the $4.10s lead the non-California pack, and Rockies prices have slipped below $3. The Henry Hub dropped from $4.89 last month to $3.73. June quotes were considerably below the winter bid-week highs registered in January of $16.32 at the Southern California border, $9.92 at the Henry Hub and $10.93 at the Chicago City-gate.
_______________________________________________

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___________________________________________________

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_____________________________________________________

FINANCIAL SUMMARY
The TSE 300 climbed 50.27 points to 8301.21
The CRB Index lost 0.37 points to 210.34
The US Dollar increased 0.18 points to 119.22
The Dow rose 71.11 points to 11061.52
The S&P 500 rose 6.44 points to 1267.11
The Nasdaq was up 6.49 points to 2155.93
July NYMEX Crude Oil climbed 0.20 to 28.13
Canadian-US Exchange gained .0037 to 1.5357
_____________________________________________________

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----- Forwarded by Mark Palmer/Corp/Enron on 07/10/2001 07:47 PM -----

	"Leopold, Jason" <Jason.Leopold@dowjones.com>
	07/10/2001 07:32 PM

		 To: "'pat.dorinson@mirant.com'" <pat.dorinson@mirant.com>,
"'mark.palmer@enron.com'" <mark.palmer@enron.com>
		 cc:
		 Subject: LADWP

=DJ LADWP, Run By Davis Adviser, Cashed In On Calif Crisis

Dow Jones Capital Markets Report via Dow Jones

   By Jason Leopold
   Of DOW JONES NEWSWIRES

  LOS ANGELES (Dow Jones)--On a single day in June 2000, the Los Angeles
Department of Water and Power, the largest municipal utility in the country,
raked in $5 million selling California surplus power for $1,000 a
megawatt-hour
- about 30 times the average price the utility charged the month before.

  That sale, reported by the California Independent System Operator and
confirmed by the LADWP in an interview last June, was one of many instances
in
which the municipal utility cashed in on California's power crisis.

  On Monday, the Department of Water Resources, the agency that has been
purchasing California's bulk power needs in lieu of the state's
cash-strapped
utilities, released a detailed report of spot-market power purchases showing
the
LADWP charged the state an average of $242 a megawatt-hour for power from
Jan.
18 through May 31 this year. That price is about $35 higher than those
charged
by most of the out-of-state generators Gov. Gray Davis has criticized
repeatedly
as price gougers.

  Potentially embarrassing for the Davis administration, however, is that
the
LADWP was formerly run by General Manager David Freeman, who in April became
Davis' top energy adviser.

  Steve Maviglio, press secretary to Davis, said Texas-based generators are
primarily to blame for the high wholesale prices that crippled the state's
two
largest utilities.

  "Anywhere they wear cowboy hats, they probably have handkerchiefs across
their
face, because they are robbing us blind," he said. "The bad guys are clearly
the
out-of-state generators."

  Freeman's trademark is a white Stetson.

  The former LADWP chief, who last September quipped that a "blind pig could
make money" under California's faulty deregulation setup, didn't return
calls
for comment.

  Freeman took a leave of absence from the LADWP in January to negotiate
long-term power contracts on behalf of the state.

     Power To Sell

  According to the DWR report, the LADWP brought in $331 million selling
power
to the state between Jan. 18 and May 31 this year.

  The LADWP, which didn't take part in the state's deregulation debacle and
which isn't under the jurisdiction of federal energy regulators, also cashed
in
throughout 2000. The utility has 7,000 megawatts of generation capacity but
only
needs about 5,500 MW to serve its retail customers, freeing it to sell as
much
as 1,000 megawatts to the ISO at prices comparable to what the generators
were
charging.

  The LADWP did so well that it was able to pay down $200 million in debt
and
will reduce its customers' rates in 2002.

  "It just shows you that enterprise is where you find it," Freeman said in
an
interview last year.

  Last July, ratings agency Fitch concluded that California's electricity
shortage provided LADWP "an opportunity for the sale of surplus power at
favorable prices which added to the municipal system's coffers."

  According to a report by the ISO, manager of the state's electricity grid,
the
LADWP overcharged California for power from May 2000 through February 2001
by as
much as $20 million. Maviglio said the state will pursue refunds from the
utility.

  On Tuesday, an LADWP spokesman defended the utility's power prices, saying
the
costs of producing electricity were extremely high.

  The ISO has estimated that the state was overcharged nearly $9 billion for
electricity sales in the 12 months ended May 2001. On Monday, settlement
talks
between state officials and generators over the refunds broke down.

  Other municipal utilities, including the Sacramento Municipal Utility
District
and private companies like BC Hydro in Canada, have also racked up enormous
sums
selling surplus power to California at the last minute.

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

  (END) Dow Jones Newswires  07-10-01

  1557EDT

(AP-DJ)--07-10-01 1557EDT
:TICKER: EIX PCG SRE
:SUBJECT: EUTL CA COBO MU PETR
Copyright (c) 2001 Dow Jones and Company, Inc.
Received by NewsEDGE/LAN: 7/10/01 12:57 PM


Hello Team,

Knight Ridder warned that its full-year earnings were likely to fall short of its expectations, citing a prolonged downturn in the advertising market that hurt October sales.   E.W. Scripps Co.  publisher of the Denver Rocky Mountain News, has also warned of lower earnings.  Gannett Co.  announced that October pro forma advertising revenues fell 8%, including a 31% drop in help wanted ads.  None of this comes as a surprise amidst a weak ad market and a sluggish economy.
---
According to the Fed, the U.S. industrial output last month took its biggest dive in nearly 20 years and extended a string of monthly declines that was the longest since the Great Depression of the 1930s.  The output for the nation's factories, mines and utilities fell 1.1% in October, the biggest decrease since it plunged 1.6 % in January 1982.   The portion of production capacity put to use by industries in October slid to 74.8% , the lowest since June 1983, from 75.7% in September.  No good news here...
Ayesha


Start Date: 4/24/01; HourAhead hour: 13;  No ancillary schedules awarded.
Variances detected.
Variances detected in Generation schedule.
Variances detected in SC Trades schedule.
Variances detected in Load schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001042413.txt

---- Generation Schedule ----
$$$ Variance found in table tblGEN_SCHEDULE.
     Details: (Hour: 13 / Preferred:   0.00 / Final:   0.00)
  TRANS_TYPE: FINAL
  SC_ID: EES
  MKT_TYPE: 2
  TRANS_DATE: 4/24/01
  UNIT_ID: BADLND_7_PL1X2

---- SC Trades Schedule ----
$$$ Variance found in table tblInt_Interchange.
     Details: (Hour: 13 / Preferred: -600.00 / Final: -595.03)
  TRANS_TYPE: FINAL
  SC_ID: EPMI
  MKT_TYPE: 2
  TRANS_DATE: 4/24/01
  TRADING_SC: NES1
  PNT_OF_INTRC: SP15
  SCHED_TYPE: ENGY
  PURCH_SALE: 1
  DEAL_NO: 1

---- Load Schedule ----
$$$ Variance found in table tblLoads.
     Details: (Hour: 13 / Preferred: 134.50 / Final: 129.13)
  TRANS_TYPE: FINAL
  LOAD_ID: SDG1
  MKT_TYPE: 2
  TRANS_DATE: 4/24/01
  SC_ID: EPMI


As you know, now that we are nearly done in capturing the DPR numbers in the
database, we have been working to present the data in compelling ways.  We
have started to do this by creating the VaR Limit Usage graphs and the
Sharpe, Rovar, and Risk - Return graphs.

I am sorry for the misunderstanding with Ted concerning the latter.  I had
explained what I wanted to produce in an e-mail and during a Risk Forum
Luncheon.  Therefore, Shona and I did not expect the reaction we got.  I have
talked to Naveen and Rudi since then, and we have changed the graphs to be
agreeable to RAC.

Today I worked on the graphs below.  They show the P&L decomposition for the
month (rolling 20 business days) up to 9/20 (one in dollar terms and the
other as a percentage of P&L).  I showed them to Shona, and she thought you
should see them before Naveen, Rudi, and Ted, because these graphs are very
powerful and are likely to be controversial.  The graphs show that European
Gas and UK Power released a lot of prudency.  Half of total P&L for European
Gas is prudency, and UK Power would have had a loss of about $20 million
(instead of a gain of $27 million) were it not for prudency.   In the case of
North American Gas, $46 million gain in new deals partly offset about $106
million in trading losses.

Please note that these are rough drafts intended to show what we can do.  I
do not think that there are problems with the data, but I threw these
together today, and I have not yet double-checked the accuracy of my
aggregating calculations.

Please launch the attached spreadsheet, and feel free to call or page me with
questions or concerns.

Thank you,

Eugenio


To hear is to obey
----- Forwarded by Dan Lyons/HOU/ECT on 10/02/2000 11:28 AM -----

	"Jane Gobe" <jgobe@bracepatt.com>
	10/01/2000 08:05 PM

		 To: <dan.lyons@enron.com>, <rkrantz@stam.rc.com>
		 cc: "W. Cleland Dade" <cdade@bracepatt.com>, "Scott Miller"
<smiller@bracepatt.com>
		 Subject: Attached are clean and redlined versions of the documents we
discussed today. Please note that the

Attached are clean and redlined versions of the documents we discussed
today.  Please note that the redlined versions were prepared in WordPerfect
and then converted to Word, so there may be some minor translation difficulty.

Please call if you have any questions.

 - #1172822 v1 - SECURITIES PURCHASE.CLEAN.doc
 - #1172812 v1 - STRATEGIC ALLIANCE.RED.rtf
 - #1172815 v1 - SECURITIES PURCHASE.RED.doc
 - #1172817 v1 - WARRANT.RED.doc
 - #1172818 v1 - REG RIGHT.RED.doc
 - #1172819 v1 - WARRANT.CLEAN.doc
 - #1172821 v1 - REG RIGHTS.CLEAN.doc
 - #1164859 v8 - STRATEGIC ALLIANCE AGREEMENT.doc


FYI -

I spoke with Patsy, per Daren's request, regarding a swap with Midcon Texas.
Patsy agreed to lend us the gas we need at the meter, rather that swap with
us.  The net effect, after they pay back what HPL parked on them, according
to Patsy, is a lend of 12,276 MMBtu's.  MTP is going to confirm an addition
16,903 total to HPL.  Please let me know if you have any questions.

Mary


---------------------- Forwarded by Bert Meyers/PDX/ECT on 04/29/2001 08:49
AM ---------------------------

Kalman Gaizler <kgaizler@sempratrading.com> on 04/29/2001 08:17:45 AM
To: "'bert.meyers@enron.com'" <bert.meyers@enron.com>
cc:

Subject: Visit

Hi Bert,

I will be arriving in Portland on Thursday, May 17th at 10:30am and I will
be staying at the Westin Portland, 750 SW Alder St.. I would like to stop by
the Enron office on Thursday afternoon at about 2PM and meet the Enron crew.

I would appreciate your help in organizing an outing on Thursday evening.
The outing could be to your favorite restaurant or what-so-ever event that
may be nearby. I hope that you and many of your colleagues will be able to
join me on Thursday, May 17th as my guests.

Also, can you please e-mail me directions to your office.

Regards,

Ken Gaizler
SempraTrading RealTime Desk

****************************************************************************
This e-mail contains privileged attorney-client communications and/or
confidential information, and is only for the use by the intended recipient.
Receipt by an unintended recipient does not constitute a waiver of any
applicable privilege.

Reading, disclosure, discussion, dissemination, distribution or copying of
this information by anyone other than the intended recipient or his or her
employees or agents is strictly prohibited.  If you have received this
communication in error, please immediately notify us and delete the original
material from your computer.

Sempra Energy Trading Corp. (SET) is not the same company as SDG&E or
SoCalGas, the utilities owned by SET's parent company.  SET is not regulated
by the California Public Utilities Commission and you do not have to buy
SET's products and services to continue to receive quality regulated service
from the utilities.
****************************************************************************


Philip,

Thanks. You are the best.

Vince

From: Phillip Randle/ENRON@enronXgate on 05/02/2001 07:28 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: RE: Installation of new programs

I gave you local admin rights on your laptop yesterday. What you have to do
is to log into the laptop using the local
Machine account. The id and the password is the same as your Corp login now.
The password on the local account will
Never change. If you have a minute today I will show you how. Let me know a
time.

Phillip Randle
Desktop Support Specialist x39665

 -----Original Message-----
From:  Kaminski, Vince
Sent: Tuesday, May 01, 2001 5:17 PM
To: Randle, Phillip C.
Cc: Kaminski, Vince
Subject: Installation of new programs

Phillip,

How can I install new programs on my laptop, without
the administrator's privileges?

One example: when I travel I use AOL to get access to my mail
and to communicate with the office. Windows 2000 does not allow
me to install it.

 Also, I have my private statistical software
I often use when I work at night during business trips.
I would like to load it as well.

Vince


pls put on my calendar.  thanks.df
---------------------- Forwarded by Drew Fossum/ET&S/Enron on 05/11/2000
09:04 AM ---------------------------
MEETING CONFIRMATION

From: Rosemary Gracey on 05/09/2000 03:26 PM
To: Dave Neubauer/ET&S/Enron@ENRON, Drew Fossum/ET&S/Enron@ENRON, Kent
Miller/ET&S/Enron@ENRON, John Dushinske/ET&S/Enron@ENRON, Tim
Johanson/ET&S/Enron@ENRON, Steven January/ET&S/Enron@ENRON
cc: Deb Cappiello/ET&S/Enron@ENRON, Sharon Brown/ET&S/Enron@ENRON
Subject: Meeting Confirmation - May 23rd

TOPIC(S): Flex Services
 DATE: Tuesday, May 23
LOCATION: Rm 646 (Library)/we will call Steve in his office X5659
TIME: 1:00-4:00 pm

For questions, please call John X7440.