---------------------- Forwarded by Carla Hoffman/PDX/ECT on 12/12/2000 06:37
AM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Pergher, Gunther" <Gunther.Pergher@dowjones.com>
     12/12/2000 06:23 AM

To: undisclosed-recipients:;
cc:
Subject: DJ Bonneville: Elec Emergency Putting Water System At Risk; DJ T
ransalta Stops Pwr Sales To Cal-ISO; Questions Credit

13:16 GMT 12 December 2000 DJ Bonneville: Elec Emergency Putting Water
System At Risk
(This article was originally published Monday)

   By Mark Golden
   Of DOW JONES NEWSWIRES

NEW YORK (Dow Jones)--The Bonneville Power Administration - which manages
the federal hydroelectric generating system in the northwest U.S. - may not
have sufficient water to meet its power and fish obligations this winter and
spring, a spokesman said Monday.
"The way it's shaping up now, we are very concerned. We've had one of the
driest Novembers on record, and a very dry December," said Bonneville
spokesman Mike Hansen.
"Given the situation in California and that we are currently having to run
the system outside of the guidelines established by biological opinion (for
fish in the river), we have some concerns for later on this winter for power
and for fish flows this April," Hansen said.
Due to the strains on the system, Bonneville has told the California
Independent System Operator and northwest utilities that Bonneville can
supply extra electricity only in emergencies where rolling blackouts are
otherwise imminent. Thursday, Bonneville rushed to California's rescue only
after the ISO declared its first-ever Stage 3 emergency, and blackouts were
avoided.
Water in the federal system's main storage reservoir, Coulee dam, is at
1,272 feet. The maximum capacity of the reservoir is 1,290 feet, and the
project is incapable of generating electricity when the water level falls to
1,208 feet.
Even though the current storage level is much closer to full than empty, the
normal operations target something close to a full reservoir by the end of
December. Grand Coulee storage has fallen 14 feet since Nov. 1, during a
time when it is normally rising.
What's more, every gallon of water that rushes through the system's turbines
generates a lot more electricity when it falls from higher elevations than
from lower ones, so Grand Coulee is losing efficiency as it drafts down.
"Drafting at Grand Coulee and Libby dams doesn't mean we won't be able to
meet our obligations for fish flow. But it presents a riskier operation.
Everytime you draw them down, and combine them with cold weather, the
probability of meeting those flow requirements drops," Hansen said.
Normally, Bonneville is able to buy excess electricity from California
utilities during the fall. However, California's economic boom has raised
electricity demand there so much that the state has become a perpetual
importer.
Water levels in Grand Coulee and the smaller federal dams are normally
drafted down from January to April to generate power and make room for the
coming spring snow melt.
"We have certainly been drafting more than we had planned for at this
point," Hansen said.
If temperatures fall so low that regional utilities cannot meet their
customers demand for electric heating, Bonneville will step in to avoid
blackouts. But each time that happens in the early part of the heating
season, it raises the possibility that Bonneville will be unable to help in
February or March.
Bonneville manages its system to achieve many goals: avoiding floods, trying
to improve fish populations, recreation and power, which has the lowest
priority except in an electric supply emergency. The hydropower operator is
pretty much always concerned about meeting those various and often contrary
obligations.
On a five-alarm scale, "We run at about two-and-a-half alarm averaged over
the year. If it gets to be as cold as the weather forecast says, we'll be in
a four- and-a-half or five real quick," Berry said
Bonneville is losing out financially by selling electricity to utilities and
the California. Under its federal tariff, it cannot ask for more than $68 a
megawatt-hour from the ISO, for example, though the ISO usually offers
$250/MWh.
But wholesale market prices skyrocketed to $3,000/MWh Friday in the
Northwest, and they have been running above $250/MWh for more than a week.
Bonneville may find itself buying power in March at extremely high market
levels in a couple of months - because it is being forced to rescue
California so frequently now.
The difference could mean a hundreds-of-million-dollar federal subsidy for
California, even though Bonneville's priority obligation is to Northwest
utilities according to its federal charter.
As a result, Bonneville has also provided the ISO with electricity under
exchange deals, whereby the ISO will supply Bonneville with megawatts at
some later time. Those deals could make the ISO's already strained financial
situation worse if power market prices continue to rise through the winter.
By Mark Golden, Dow Jones Newswires; 201-938-4604; mark.golden@dowjones.com
   (END) Dow Jones Newswires  12-12-00
1316GMT Copyright (c) 2000, Dow Jones & Company Inc
13:15 GMT 12 December 2000 DJ Transalta Stops Pwr Sales To Cal-ISO;
Questions Credit
(This article was originally published Monday)
LOS ANGELES (Dow Jones)--Transalta, an investor-owned utility based in
Alberta, Canada, stopped selling power to the California Independent System
Operator at 6 p.m. PST Monday (0200 GMT Tuesday) because it fears the grid
operator won't be able to pay, market sources told Dow Jones Newswires.
For about eight hours Monday, Transalta sold the ISO 400 megawatts of power
from its Centralia generating station in western Washington state at $1,000
a megawatt-hour, the source said. The 1,000 MW will cost the ISO about $3.2
million.
The cost of producing electricity at the 650-MW Centralia plant is about
$14-$15/MWh, company officials said.
Because the ISO, which manages electricity reliability in the state, was
buying a large quantity of power in the spot market, Transalta questioned
the ISO's credit-worthiness.
A Transalta spokesperson wasn't immediately available for comment Monday.
Transalta could resume sales to the ISO at a later date. Representatives
from the ISO wouldn't comment.
To illustrate just how dire the supply situation in California is, other
power suppliers, including British Columbia Hydro & Power Authority (X.BCH)
subsidiary PowerEx, have requested that the ISO secure a letter of credit
from one of the state's three investor-owned utilities before any
transactions take place. Last week, Edison International (EIX) unit Southern
California Edison did just that, issuing a letter of credit to PowerEx for
$23 million.
Steve Maviglio, press secretary to California Gov. Gray Davis, confirmed
with Dow Jones Newswires that he received a telephone call from Transalta
saying the company planned to stop selling power to the grid operator Monday
evening.
The ISO has since called a stage-two power emergency and requested that
Pacific Gas & Electric Co. interrupt about 400 MW of power to large
industrial customers who get reduced rates in exchange for having their
power cut during peak demand periods.
-By Jason Leopold and Mark Golden, Dow Jones Newswires; 323-658-3874;
jason.leopold@dowjones.com
(END) Dow Jones Newswires 12-12-00
1315GMT Copyright (c) 2000, Dow Jones & Company Inc

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

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


Please respond to Here is lesson #5.  Have fun!

 - Experiencing God Week 5.doc


Gerald:

Thanks.  FYI, I made four changes:

1.  Removed footer
2.  Corrected Mark's phone number (x36368)
3.  Changed the letter date to 9/29
4.  Corrected the reference date to AUGUST 29. (My mistake.)

~John


Ed & Tracy -

Jennifer Shipos is a gas trader on Craig Breslau's desk (Mid-Markets) and she
asked me to look at Praxair from a credit standpoint.  She apparently is
going to sell them some gas, but they are also interested in buying power.


Dear PIRA Client:

The following Current News & Analysis articles have been published on
PIRA's website:

1) Will Russia Join In Non-OPEC Cooperation?
2) FSU Seaborne Exports
3) November Weather: Europe/Japan Cold, US Mild

Please go to http://www.pira.com

These articles can be found in the client section of PIRA's website. For
account information or to gain access please contact Dyana Rothman at
drothman@pira.com

Best regards,

PIRA Energy Group


Great--we ought to be able to about close this effort out at this next
meeting I hope.  DF

	From:  Dan Fancler                           12/01/2000 11:28 AM

To: Drew Fossum@ENRON, Tony Pryor/ET&S/Enron@ENRON, Jerry
Peters/NPNG/Enron@ENRON, Lee Ferrell/ET&S/Enron@Enron
cc: Bob Chandler/ET&S/Enron@Enron

Subject: ETS risk management policy revisions

I have included Drew's recommendations and have amended the 11/6/2000 drafts
of the ETS Risk Policy and Risk Procedure.  The significant change made was
to take out references to Hedging and Non-Hedging Transactions (II A. & B.
have been taken out).  We will just call them all Derivative Transactions.  I
would like Tony Pryor to arrange a meeting with all parties to move these
documents forward, an alternative is to continue to use the Corporate Risk
Management Policy and just set the trading limits as part of the Corporate
Policy.

Cassandra Schultz in RAC has not responded to the policy and I plan to
follow-up with her after we meet to discuss.

Dan


resent the fax-let me know if you get all the pages


Mark,

As promised, below is a list of the people from the legal team that currently
have access to EOL.  Let me know if you have any changes or additions.

Alan Aronowitz
Harry Collins
Jeff Hodge
Janice Moore
Leslie Hansen
Stacey Dickson
Wayne Gresham
Mark Taylor

Thank you for all your time and consideration.  Meeting with you this morning
was extremely helpful to us.

Carrie Southard
Product Control Group


yep

"Amir Cyrus Ahanchian" <acahanchian@zdnetonebox.com> on 09/26/2000 04:58:12 PM
To: Eric.Bass@enron.com
cc:
Subject: Re: GAME @ 7:00 on Wed

I'm there man, same place?

--
Amir Cyrus Ahanchian
acahanchian@zdnetonebox.com - email
(512) 682-6996 ext. 1087 - voicemail/fax

---- Eric.Bass@enron.com wrote:
>
> our game is at 7:00 tomorrow - can you make it?
>
>
>
>
> "Amir Cyrus Ahanchian" <acahanchian@zdnetonebox.com> on 09/25/2000
> 07:32:58
> PM
>
> To:   eric.bass@enron.com, oren@eyespace.com, rachelduncan@excite.com,
>       dganc@yahoo.com, jefflerner@aol.com, btmazumdar@zdnetonebox.com,
>       moranito@hotmail.com, nghiatn@hotmail.com, Suresh_vasan@enron.net,
>       jwiseman@newregency.com
> cc:
> Subject:  Fwd: Some Light Reading
>
>
>
>
> --
> Amir Cyrus Ahanchian
> acahanchian@zdnetonebox.com - email
> (512) 682-6996 ext. 1087 - voicemail/fax
>
>
>
> ___________________________________________________________________
> To get your own FREE ZDNet Onebox - FREE voicemail, email, and fax,
> all in one place - sign up today at http://www.zdnetonebox.com
>
> Return-Path: <amie.ahanchian@ey.com>
> Received: from gateway2.ey.com ([199.50.26.3]) by mta07.onebox.com
> (InterMail vM.4.01.02.27 201-229-119-110) with ESMTP          id
> <20000924185227.HMDU289.mta07.onebox.com@gateway2.ey.com>
> for
> <acahanchian@zdnetmail.com>; Sun, 24 Sep 2000 11:52:27 -0700
> Received: by gateway2.ey.com (SMTP Gateway) id OAA00909        for
> acahanchian@zdnetmail.com; Sun, 24 Sep 2000 14:50:59 -0400
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> Received: by gateway2.ey.com (Protected-side Proxy Mail Agent-1);
> Sun, 24
> Sep 2000 14:50:59 -0400
> Date: Sun, 24 Sep 2000 13:10:35 -0500
> From: "Amie J. Ahanchian" <amie.ahanchian@ey.com>
> Subject: Some Light Reading
> To: amirco@email.msn.com, acahanchian@zdnetmail.com, bird3397@yahoo.com
> X-Mailer: Worldtalk (NetTalk for Windows NT 4.5-g5)/MIME
>
> Since we all love to read newspapers!
>
>
> > NEWSPAPER READERS:
> >
> > The Wall Street Journal is read by the people who run the country.
> >
> > The New York Times is read by people who think they run the country.
> >
> > The Washington Post is read by people who think they ought to run
> the
> > country.
> >
> > USA Today is read by people who think they ought to run the country
> but
> > don't understand the Washington Post.
> >
> > The Los Angeles Times is read by people who wouldn't mind running
> the
> > country if they could spare the time.
> >
> > The Boston Globe is ready by people whose parents used to run the
> country.
> >
> > The New York Daily News is read by people who aren't too sure who's
> > running the country.
> >
> > The New York Post is read by people who don't care who's running
> the
> > country, as long as they do something scandalous.
> >
> > The San Francisco Chronicle is read by people who aren't sure there
> is a
> > country, or that anyone is running it.
> >
> > The Miami Herald is read by people who are running another country.
>
>
>
>
>
>
>
>
>
>
>
>
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Brent:

Thanks very much for this report - these are VERY helpful in keeping me up to
date on what's happening in your part of the world.

Mark

From: Brent Hendry AT ENRON_DEVELOPMENT@CCMAIL on 02/16/99 08:41 AM
To: Mark E Haedicke@ECT, Mark - ECT Legal Taylor@ECT, Randy Young AT
ENRON_DEVELOPMENT@CCMAIL
cc: Dan J Hyvl@ECT, Jeffrey T Hodge@ECT, Jordan Mintz@ECT, Harry M
Collins@ECT, Stephen W Van Hooser@ECT, Bob Carter@ECT, Julio Casillas@ECT,
Susan Musch AT ENRON_DEVELOPMENT@CCMAIL, "Andrea Calo/ENRON_DEVELOPMENT" AT
ENRON_DEVELOPMENT@CCMAIL, Sue Frusco AT ENRON_DEVELOPMENT@CCMAIL
Subject: BA Project Report

Importance:  High
---------------------------------

Here is my list of some of the projects/contracts Andrea and I are involved
in or working on (recent comments are in bold):
TGS Secured Credit Facility--(Issue raised  by Don Black regarding the
feasibility of pledging linepack gas.  We need to check with Robert George on
this issue.)

Imbedded Capital Contracts--(Scott Porter raised the issue of developing a
new form of template with Andrea and asked that we discuss the issue with
Robert George.)

Distribution Contracts--The commercial group would like to have preapproved
distribution contract forms available to give to customers so that the
customer can submit them to the distribution company when electing a
commercial bypass.  Only two distributors have had their form approved by the
ENARGAS.  We are looking into what we can offer to our customers in the other
distribution territories to speed the process of finalising distribution
contracts with the LDCs to avoid long delays.

ENARGAS Expedientes--ENARGAS has issued an order to Enron to amend three of
its gas contracts to modify references to firm transportation and to unbundle
the pricing.  The ENARGAS also sent a letter to our customers which we feel
overstepped their regulatory role.  The meeting between Roberto Pensoti and
Hector Formica was held last Thursday.  Roberto had a follow up phone
conversation with Hector on Friday and had a meeting Monday morning with
Alicia Federico to get a feel for the amount of resistance we will get. We
have been given a 30 day extension to respond to the order in order to have
meetings with the ENARGAS and try to come to some resolution on this issue.
The first meeting will be scheduled early next week.

Neuquen Tax Assessment--Andrea has faxed or emailed the pertinent information
regarding the stamp tax assessment on the Technical Assistance Agreement
between TGS and EPCA to George Frumkin, Anna Sepulveda and Michelle Blaine
who will co-ordinate with TGS and Perez Companc on the strategy for
responding to the assessment.  Michelle will call TGS outside counsel today
in order to hire him to also represent EPCA.  EPCA has filed its response to
Neuquen using the arguments prepared by TGS on January 27.  Michelle Blaine
has requested information regarding what the next step by Neuquen might
possibly be.  We will look into the issue.

Tax Lobbying--Jordan Mintz and Terry Thorn are proposing a series of meetings
with government officials in late February and have asked Carlos Bastos to
see if he can also arrange a meeting with Mr. Lenicov at that time.  Issues
include determining whether the stamp tax and turnover tax issues can be
lobbied at the national level or only at the provincial level.  There is a
proposal that was floated that the turnover tax could be included in the VAT
tax scheme which might solve the problem with the turnover tax.  The focus of
the meetings is to determine how a lobbying strategy can be developed and who
should be involved in the actual lobbying process.  Jordan Mintz is handing
off the responsibility he had assumed on this issue to Jim Ginty.  Jordan has
asked Carlos Bastos to see if he can set up a meeting with Mr. Lenicov on
March 11th or 12th since Terry Thorn can be in Buenos Aires on those days.

Transportation Capacity Release Guidelines--Must review and comment on new
ENARGAS proposed guidelines by February 5.  Comments were made on February 5.

Vandenfil--Vandenfil has filed for a pre-bankruptcy proceeding which has not
yet been "opened" by the court due to the January recess.  For the last three
months Vandenfil has made their payments only after our sending them
termination notices with a two business day cure period.    The most likely
scenario during the preliminary bankruptcy period is that our contract will
be "continued" by the trustee giving us a priority in payment for ongoing
deliveries of gas.  After the preliminary bankruptcy is opened if we have not
been served notice that our contract is "continued" within 30 days we would
be allowed to terminate the contract.  One of the risks that we face with
this customer is that they may argue to the trustee that we cannot terminate
the contract claiming we are providing a public service.

Imasa Bid--Format of Enron's original proposal structure changed.  Enron and
Albanesi submitted joint termsheet to Central Puerto in November  where Enron
proposed signing two contracts with Central Puerto, one for the supply of all
the gas transportation and another for the supply for 60 percent of the gas
requirements and Albanesi proposed two contracts, one for supplying 40
percent of the supply of the gas and another for the building of the pipeline
spur.  Central Puerto is studying the proposals and has not responded as of
January 25, 1999.

Dow Pipeline Spur Feasibility Study--Enron and Dow are studying the
feasibility of building a pipeline between TGS and two affiliates of Dow.
Issues include determining whether our CEIASA shareholder and owners
agreements preclude Enron from building spurs for end users and whether spurs
that serve more than one customer can be built under current regulatory
guidelines.  Andrea will be putting together a short report based on her
meeting with Nestor Martinez.   A team meeting consisting of legal,
regulatory, commercial, credit and structuring met yesterday to discuss the
broad parameters of the Dow spur proposal.  The commercial group is preparing
a first draft of a build, operate and finance termsheet that they would like
to present to the customer on Thursday to be reviewed by Robert George.
Credit is still doing its analysis of the two proposed counterparties.

Contract Review--Preliminary gas contract reviews for Central Puerto and Ave
Fenix for Rob Rice and Federico Cerisoli.

Gas Deals:
Chauvco--20 day gas supply contract being drafted
Cerro VanGuardia--Amendment to the gas sale agreement being drafted to cover
negotiated changes to the take or pay provisions.
Bagley--Two Offer letters sent to two Bagley entities for review, Enron was
not the low bidder.  I have been asked by to look into how other "marketers"
are avoiding the turnover tax and thus be more competitive than we are.  The
customer is looking at the relative risks between firm distribution and
interruptable distribution but is running up against a deadline for actually
requesting a contract template for distribution services.  The contract is
slated to begin March 23, however, the distributor has 30 days to respond for
requests for distribution services.
Total--Spot master agreement proposed for transactions out of Neuquen.  Short
term draft offer for gas out of Chubut being reviewed by Total.  A separate
one year supply contract template supplied by Total is being reviewed.  The
customers template contains the same type of language that gave us Antitrust
trouble in the PCR contract.  Peidra Buena--Gas sale agreement for peaking
gas.    Final offer sent and Gas has started flowing.  We are now working on
a one year contract.  A termsheet has been sent to the customer.
Dow--Negotiating offer letter format for sale of gas to two Dow affiliates.
Gas deal is related to but independent of the spur issue.  A mark up of draft
has been received the end of last week, Dow indicates that further comments
are to be sent soon.

Power Deals:
We need to draft an output marketing form of contract for the purchase of
electricity.

Argentine Signatories:
Scott Neal has approved a new structure for signatories in Argentina.  I will
work with Hope Duggan firm on the new POA's.


----- Forwarded by Jeff Dasovich/NA/Enron on 11/01/2000 05:55 PM -----

	Joe Hartsoe
	11/01/2000 05:49 PM

		 To: skean@enron.com, Richard Shapiro/NA/Enron@Enron, Susan J
Mara/NA/Enron@Enron, Mona L Petrochko/NA/Enron@Enron, James D
Steffes/NA/Enron@Enron, Mary Hain/HOU/ECT@ECT, Joe Hartsoe/Corp/Enron@ENRON,
Sarah Novosel/Corp/Enron@ENRON, Sandra McCubbin/NA/Enron@Enron, Karen
Denne/Corp/Enron@ENRON, mpalmer@enron.com, Ginger Dernehl/NA/Enron@Enron,
Bernadette Hawkins/Corp/Enron@ENRON, Steven J Kean/NA/Enron@Enron, Richard
Shapiro/NA/Enron@Enron, Susan J Mara/NA/Enron@Enron, Mona L
Petrochko/NA/Enron@Enron, James D Steffes/NA/Enron@Enron, Alan
Comnes/PDX/ECT, Tim Belden/HOU/ECT, Tom Briggs/NA/Enron@Enron, Cynthia
Sandherr/Corp/Enron@ENRON, Jeff Dasovich/NA/Enron@Enron, Kathryn
Corbally/Corp/Enron@ENRON, Shelley Corman/ET&S/Enron@ENRON,
susan.j.mara@enron.com
		 cc: dbva@radix.net
		 Subject:

Folks  -- Attached is a summary of the Commission's Order on California.
Constitutional Crisis here we come.  Later JOE


See attached revised process with a few changes based upon comments from
Andrea Reed.  Thanks.  I hope to get us together sometime next week.  Mary

Enron North America Corp.
Mary Cook
1400 Smith, 38th Floor, Legal
Houston, Texas   77002-7361
(713) 345-7732 (phone)
(713) 646-3490 (fax)
mary.cook@enron.com


FYI

-----Original Message-----
From: Stevens, Kirk
Sent: Monday, October 01, 2001 2:45 PM
To: Butts, Bob; Hayslett, Rod
Cc: Piro, Jim
Subject: PGG Q3 Forecast - Confidential

Quick update on our Q3 earnings (still very prelim).

3rd Current Estimate:
       IBIT = (2.7)
       NI    = (1.3)

Latest Forecast:
       IBIT = (9.1)
       NI   = 1.7

Major variance - TOLI loss for the month is expected to be $9.5m, or $6.5m
worse than our 3rd Current Estimate.  The recent sharp decline in the stock
market is the driver (post Sept 11 market impact).
Without the additional TOLI loss, we'd be right on our 3rd Current Estimate.

Major Risks - AA&Co. Issues
The following issues are currently being reviewed and challenged (to different
degrees) by AA&Co Portland (note- Houston AA&Co - Duncan -has been updated on
these items by Tim McCann - AA&Co Portland).  Our forecast numbers above
assume positive outcome on all these issues.  We will continue to hold our
ground, feeling our positions are appropriate.  But since several of these
have no direct impact on PGE stand-alone reporting, Houston (you) have better
leverage getting these through the AA&Co staff in Houston that may question
our treatment.

TOLI Deferred Tax Reserve - $9m
PGE proposes to reverse this reserve established Q4 1999 (at the date of the
Sierra Sale announcement) since the deal with Sierra was terminated, and since
we now feel recording this type of reserve is more appropriate at the time of
an actual transfer of the TOLI assets to Enron under any future sale of PGE.
AA&Co is fighting this one hard, Greek Rice has been made aware of this.

Pension Credit Capitalization - $5m (YTD 9/30 true-up)
PGE proposes that we no longer capitalize our FAS 87 pension credit since our
rates assume zero pension costs for ratemaking purposes.  AA&Co. is using a
FAS 87 implementation issue to say we still need to capitalize the credit, and
possibly set up a FAS 71 reg asset (although they're still somewhat pushing no
change to our current accounting, ie just keep capitalizing the pension
credit).

Merger MOU Obligation - PVC - $5.7m
Since our new ratecase allows recovery of the remaining costs for this
committment made as part of the Enron purchase of PGE, we believe the
remaining liability set up in purchase accounting on PVC's books can be
reversed.  AA&Co. feels we still have an obligation to perform the MOU
committments (which we do), but we feel that our original estimate of this
cost at the time of the PGE/Enron merger has now been reduced as a result of
the ratemaking treatment, so it should be reduced to zero.  AA&Co. prefers
that we bring the liability down over time as we fullfill the committment,
letting earnings effect come in over time.

Severance Reserves - PGH1 ($2.7m) and PVC ($3.5m)
At the time of the Enron purchase of PGE, severance reserves were set up for
an anticipate number of involuntary terminations expected to occur within the
first few years of the merger.  Over time, actual severance payments made to
PGH or PGE employees have been reversed out of these reserves.  At this point,
no future terminations are contemplated which relate to the initial merger
conditions/environment.  Accordingly we plan to reverse these balances to
income Q3.

At this point, AA&Co. thinks we should consider taking these back against
goodwill (which we feel goes against Purchase Accounting guidance).

Litigation Reserve - PGH1 ($2.1m)
PGC and it's subsidiaries had numerous legal issues outstanding at the merger
date (eg. Columbia Steel, Trojan Recovery, City of Burbank Contract,
Bonneville Pacific).   A reserve of $5 million was established in purchase
accounting for any legal/litigation and settlement costs incurred by PGC and
subsidiaries to defend itself in these types of claims/proceedings.  The
reserve also was to cover any litigation filed post merger directly related to
the merger.

Since the merger date, we have reversed actual costs incurred for these types
of activities in the amount of $2.9 million, leaving a remaining reserve
balance at 9/30/01 of $2.1 million.

At this time, all legal claims outstanding at the merger date have been
settled satisfactorily where no material contingency exists.    Accordingly,
we will reverse the remaining balance in Q3 2001.

Again, AA&Co has indicated that we had over estimated the original cost of
these activities in purchase accounting, and that we should now reverse the
difference back through goodwill (again, we think this is a misapplication of
purchase accounting since we are well outside the orginal 1-2 year window for
adjusting goodwill).

There are a few other items we're debating with AA&Co (in the range of $4m to
6m), and I'll let you know if any of these start to look at risk.
Let me know if you have any questions on these items (503) 464-7121.


In case any of you have not seen the FERC press release on California (issued
in conjunction with the President's statements made yesterday regarding
California), attached is a copy of the release.

Sarah


Sara,

I hope you are having a good vacation and are not looking at your emails
until you return.  I just wanted to get you up to date on a couple of items.

Bolivia--Randy asked if we have ever done any research on whether we could do
derivatives in Bolivia.  I told him I thought we had checked on this and
determined that Bolivia was not one of the countries that  had been surveyed,
but that I would check with you to be sure.  I think he is asking since we
are looking at doing physical deals there and the next thing the business
guys always want to do is financial trades.

Colombia--There is a new group of commercial guys who want to do electricity
trading (and gas trading???) in Colombia.  I have passed this request on to
Mark who is looking at it.  I think we will run into the same problems we had
last year with the gas trading proposal.  Susan Baily found the Colombia
financial and physical trading survey for me to give to Mark and I faxed some
other memos I found in my files here.  There is a lot of memos on structures
that had to do with the earlier trading vehicles and joint ventures which I
did not send.  I also did not send the memos relating to our efforts to get
financial trading allowed.  Bob Carter worked a lot on that issue but the
commercial interest died before we saw any tangible results with the Colombia
political process.

Brazil--Don lobbed a bomb last week to Randy and then casually mentioned it
to me after the fact.  Don asked Randy to set up a swap vehicle in Brazil so
that Don can do his financial trading with Argentina from Brazil.  This is
some speculation on my part but I think Don doesn't like the current
structure of having to run his financial trades with Argentine counterparties
through Houston.  He does not have the ability to direct and control the
process of negotiating and trading for Argentina through ENA which is
problematic for him since for tax reasons we are telling him anything of
substance has to come from ENA in Houston.  Don asked Randy, who asked Andrea
Bertone, to set up a swap vehicle in Brazil to trade with Argentine
counterparties.  Obviously Don could control the negotiating and trading from
Brazil and his operational problem is solved.  As you know this may create a
whole host of other problems that cannot be solved as easily.  I will discuss
with Andrea today my initial thoughts on the issues raised by this
proposal.   First the tax issues may make Brazil a difficult place to make
any money on a trading operation, tax will need to be brought in first thing
to analyse the structure.  Second, we may not be able to trade cross border
swaps without regulatory problems, we will need to speak with Antonio Felix
and others at Tozzini to start reviewing the structure.  Third, there may be
significant currency issues involved that need to be reviewed at the same
time we look at the tax and regulatory issues.  If we are able to overcome
these issues then we will need to review the substantial legal and
operational issues raised by such a structure.  The ISDA agreement, which
would be in English, would need to be reviewed by local counsel to ensure
that all of the substantive provisions including arbitration, limitation of
liability and collateral structures would be enforceable in Brazil when
entered into with Argentine counterparties.  Operational issues such as who
will be responsible for the negotiation of masters, drafting of confirmations
etc. would also need to be addressed.

Argentina--I think the Acindar swap issue has gone away.  Pat emailed though
that they are now looking at an option structure.  I do not know what they
mean by "option" or what the new structure would be.  I will let you know
what I find out.

Call when you get back and I can update you on where things stand.

Brent


Mark - I received a voice message from Jim Derrick today authorizing us to
use Brobeck and David Hudanish for the back office project.


OK, here's the list:

Mondavi's always a classic, and up the hill is La Famiglia (Mondavi brand
that's a sweet view, great place to have a picnic lunch, and it has some neat
brique-braque.
Hess collection.
Sterling.
Jarvis--truly amazing (and ostentatious--wait till Beth sees the woman's
restroom!) But you must call NOW to try to get in.
Cordonui (sparkling wine) also has a very lovely view.
Stag's Leap.
Up valley (Calistoga way) is Chateau Montellana (sp?), which has really
wonderful wine.
Finally, if you would like, I might be able to tap into a connection and get
you in at Opus (Mondavi--maybe one of the best wines, dare I say, anywhere).
Please let me know if you'd like to do Opus, and I'll get on it pronto.  And
if you want to do Jarvis, call now!

Hess Collection.  Opus.  Sterling.  Mondavi.  Jarvis (if you can get in).


Please make sure that we have e-mailed Mark Symms your links and directories
for the web site.

Thanks
Kayne


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TASK ASSIGNMENT

Status:		completed

Task Priority:		3
Task Due On:		1/24/2001
Task Start Date:	1/24/2001


Hi, Jessica, how are you?  I tried to send this to you a month ago but had
your wrong address.  I would like to mail it on Monday.  Do you have any
time to look at it and give me your thoughts?

 <<McClure.doc>>

Nancy
(707) 251-4870 (phone)
(707) 265-5446 (fax)
"Plus je bois, mieux je chante"

 - McClure.doc


10-ish percent.

-----Original Message-----
From: Dorothy Rothrock [mailto:drothrock@cmta.net]
Sent: Monday, October 22, 2001 12:32 PM
To: Dasovich, Jeff
Subject: Re: Angelides Oct. 19th Letter to L. Lynch Urging July 1 DA
Suspension Date

hey....at the high point of direct access, how much of the load was off the system?

Dot

"Dasovich, Jeff" wrote:

> I'm sure that by now everyone's seen the letter that Angelides sent to
> Loretta last Friday.  If you haven't, let me know and I'll have it faxed
> to you.  In short, Angelides blames all of the financial woes of the
> State on Loretta and the PUC.  Specifically, he claims that by allowing
> DA sign-ups to extend to September 20th, the PUC may have shifted over
> $8 billion to "homeowners, small businesses, and other enterprises..."
> Angelides ends the lettery by urging the Commission to immediately roll
> back the DA suspension date to July 1.
>
> The concern, of course, is that Angelides' assertions are out there and
> have received alot of press attention, i.e., Direct Access=$8 billion
> tax on homeowners.
>
> To her credit, Loretta refuted Angelides in the press accounts and
> repeated that the best way to get costs down is to renegotiate the DWR
> contracts.  She also said in the press accounts that she intends to deal
> with the July 1/September 20 suspension issue at the next commission
> meeting.
>
> In light of these events (and the increasing attacks on Loretta by
> Angelides and others in the Administration) It might be useful to give
> Loretta an assist by drafting a very brief letter to her stating:
>
> *       Angelides is all wet--DA and "fairness" are not mutually
> exclusive and the PUC has all the regulatory tools necessary to ensure
> fairness is maintained going forward.  Thus, the 8 plus billion dollar
> number is without basis.
> *       Re-stating that the PUC has no legal authority to retroactively
> suspend DA to July 1, etc., etc.
>
> Folks may have other points to make.  Seems that we'd want to keep the
> letter short and to the point, however.
>
> A letter might be useful in order to 1) give Loretta some support and 2)
> get some counter-press in response to the Angelides tantrum.
>
> Any thoughts?
>
> Best,
> Jeff
>
> **********************************************************************
> This e-mail is the property of Enron Corp. and/or its relevant affiliate and may contain confidential and privileged material for the sole use of the intended recipient (s). Any review, use, distribution or disclosure by others is strictly prohibited. If you are not the intended recipient (or authorized to receive for the recipient), please contact the sender or reply to Enron Corp. at enron.messaging.administration@enron.com and delete all copies of the message. This e-mail (and any attachments hereto) are not intended to be an offer (or an acceptance) and do not create or evidence a binding and enforceable contract between Enron Corp. (or any of its affiliates) and the intended recipient or any other party, and may not be relied on by anyone as the basis of a contract by estoppel or otherwise. Thank you.
> **********************************************************************


Just wanted to make sure you had this.
----- Forwarded by Mark Taylor/HOU/ECT on 10/08/2000 01:51 PM -----

	Stacy Carey <SCAREY@ISDA.ORG>
	10/07/2000 11:04 PM

		 To: US REGULATORY COMMITTEE <USREGCOMM@isda.org>
		 cc:
		 Subject: FW: CEA Modernization draft

Attached are the three documents outlining the latest version of the CEA
legislation.  As Lance states below this version was developed by the
Majority staff of
the House Ag, Banking, Commerce, and Senate Ag and Banking Committees.
Note:  our comments are due by 10 a.m. on Tuesday. We will set-up a process
for submitting our comments once people have had a chance to review the bill
tomorrow and Monday  --- Stacy

-----Original Message-----
From: Kotschwar, Lance [mailto:Lance.Kotschwar@mail.house.gov]
Sent: Saturday, October 07, 2000 11:48 PM
To: Hubert, Vernie; Riley, John; Gaston, Brian; Hobbs, David; Kurth,
Tim; Maguire, Francis E. ("Frank");
'Walter_Lukken@agriculture.senate.gov'; Marcia Asquith (E-mail);
'dave_johnson@agriculture.senate.gov';
'Wayne_Abernathy@banking.senate.gov'; 'Linda_Lord@banking.senate.gov';
'geof_gradler@banking.senate.gov'; Duncan, Jeff; Peterson, Dick;
Washington, Consuela; 'Marne.Levine@do.treas.gov';
'john.yetter@do.treas.gov'; Beau Greenwood (E-mail); 'efox@CFTC.gov';
'alowenthal@cftc.gov'; 'Paul, C. Robert'; 'patrick.m.parkinson@frb.gov';
Jim Newsome (E-mail); Scott Parsons (E-mail); Cavicke, David; Ebersole,
Dave; Imperatore, Brant; McCullough, Brian; O'Conner, Bill; Parker,
Gary; Rich, Linda; Sell, Tom; Vildostegui, Shannon; Weston, Ryan;
Zerzan, Gregory
Cc: 'ggoldman@cgsh.com'; 'erosen@cgsh.com'; Stacy Carey (E-mail); Frank
Hampton (E-mail); 'barb@fiafii.org'; Robert Fouberg (E-mail);
'jillmay@erols.com'; 'smilligan@nyse.com'; 'zisooka@cboe.com';
'nymex2@unidial.com'; 'mlwhalen@wms-jen.com'; 'gdbaker@wms-jen.com';
Jeff Shipp (E-mail); Todd Van Hoose (E-mail); Celesta Jurkovich
(E-mail); FClark@pmainc.net; Jerrold_Salzman@dc.kirkland.com; Lita
Frazier (E-mail); mark_young@dc.kirkland.com
Subject: CEA Modernization draft
Importance: High

Saturday, October 07, 2000

To: see distribution list
From: Lance Kotschwar, House Ag Committee
Re: Commodity Futures Modernization Act of 2000

Attached you will find 3 files:

 1. "JOINT_008" (title I, consisting of amendments to the CEA);
 2. "JOINT2_008" (title II, consisting primarily of amendments
to the securities laws, and conforming amendments to the CEA); and
 3. "Swap" (consisting of amendments to GLBA and the securities
laws)

Except where noted (with brackets or otherwise), these three documents
reflect a combined legislative proposal developed by the Majority staff of
the House Ag, Banking, Commerce, and Senate Ag and Banking Committees.

We respectfully request that you submit your comments/suggestions to us NO
LATER THAN 10 A.M. ON TUESDAY, OCTOBER 10.

Please feel free to forward these documents to other interested parties not
on this distribution list.

 <<JOINT_008.PDF>>  <<JOINT2_008.PDF>>  <<Swap.PDF>>

 - JOINT_008.PDF
 - JOINT2_008.PDF
 - Swap.PDF


----- Forwarded by Sara Shackleton/HOU/ECT on 12/19/2000 11:32 AM -----

	"Dranguet, Beth Ann" <badranguet@velaw.com>
	12/18/2000 04:36 PM

		 To: "Shackleton, Sara (Enron)" <sara.shackleton@enron.com>
		 cc:
		 Subject: CSFB Confirmations

Sara,

Attached are the CSFB Confirmations marked to show changes.  Let me know if
you need clean versions also.

Regards,
Beth Ann
_________________
Beth Ann Dranguet
Vinson & Elkins L.L.P.
One American Center
600 Congress, Suite 2700
Austin, Texas  78701
(512) 495.8595
(512) 236.3226 fax
(888) 203.5056 pager
badranguet@velaw.com
 <<Austin_169775_2.DOC>>  <<Austin_169752_2.DOC>>
          ++++++CONFIDENTIALITY NOTICE+++++
The information in this email may be confidential and/or privileged.  This
email is intended to be reviewed by only the individual or organization
named above.  If you are not the intended recipient or an authorized
representative of the intended recipient, you are hereby notified that any
review, dissemination or copying of this email and its attachments, if any,
or the information contained herein is prohibited.  If you have received
this email in error, please immediately notify the sender by return email
and delete this email from your system.  Thank You

 - Austin_169775_2.DOC
 - Austin_169752_2.DOC


hey, Adam!

My name is Joseph and I'm assistant to Jeff Dasovich, who forwarded your
e-mail to me, as well
as Mona Petrochko, both of whom are directors here in the San Francisco
office.

Please note our address as follows, which applies to Jeff, Mona and myself:

Enron Corp.
101 California Street
Suite 1950
San Francisco CA  94111

Jeff's phone:    415.782.7822
e-mail:   jeff.dasovich@enron.com

Mona's phone: 415.782.7821
e-mail:   mona.l.petrochko@enron.com

my phone:  415.782.7841
e-mail:   joseph.alamo@enron.com

Our fax number: 415.782.7854

Adam, I hope this helps, and if you have any more questions or need any more
info, please do not
hesitate to contact me.  (Are you new?? Welcome aboard, fellow Admin!)

Thanks,

Joseph Alamo
Sr. Administrative Assistant
Government Affairs - The Americas
San Francisco CA

---------------------- Forwarded by Joseph Alamo/NA/Enron on 11/29/2000 02:01
PM ---------------------------
From: Jeff Dasovich on 11/29/2000 03:43 PM CST
Sent by: Jeff Dasovich
To: Joseph Alamo/NA/Enron@Enron
cc:

Subject: Re: Address Information

Can you get this kind person the info?  Thanks very much.

	"ADAM KRISTENSEN" <adamk@sheltercorp.com>
	11/29/2000 03:32 PM

		 To: jeff.dasovich@enron.com
		 cc:
		 Subject: Address Information

Mr. Dasovich,

Hello, my name is Adam, and I work as an administrative assistant to
Ms. Susan Landwehr in Enron's Minneapolis satellite office.  She has
asked me to compile an address list of several of her colleagues,
including yourself.

Unfortunately, I have been unable to find your street address or that
of your coworker, Mona Petrochko.  If you could email this
information back to me, it would be much appreciated.  Thanks.

Adam Kristensen
ENRON Corp.


Richard, earlier today I spoke with Barry Friedberg, Schultes' New York
counsel to get some idea of what areas Schultes' Ohio counsel would be
interested in during tomorrow's discussion.? Friedberg explained that the
Ohio counsel are "classic plaintiff's lawyers" - they are not that familiar
with the issues and will tend to ask broad generalized questions.? Friedberg
also noted that they may be unaware that Enron is a defendant in the two
California actions and will likely be unaware that Enron is the only
defendant who has not cross-complained against Schultes. For purposes of
insuring that any deposition testimony in the Ohio case is not used against
any defendant in the bondholders' litigation,? Friedberg thought it would be
a good idea to try a limit any discussion to post-closing events and, more
specifically, whether Enron personnel were privy to any discussions with SDI
or McDonald regarding (1) the decision to fire Schultes, (2) Schultes'
alleged dishonesty and (3) Schultes' alleged incompetence.? Friedberg
explained that Busse's defenses to the defamation and wrongful termination
claims are (1) that he did not make any defamatory statements and (2) if he
did, they were true.? The problem with the second defense is that it may
affect our defenses in the bondholders' litigation.? If Enron or others were
aware that Schultes was dishonest or incompetent it will be important to know
when and how they learned of such information.? Ideally, they learned it
after the closing and only through discussions between McDonald and SDI.

This e-mail message may contain legally privileged and/or confidential
information. If you are not the intended recipient(s), or the employee
or agent responsible for delivery of this message to the intended
recipient(s), you are hereby notified that any dissemination,
distribution or copying of this e-mail message is strictly prohibited.
If you have received this message in error, please immediately notify
the sender and delete this e-mail message from your computer.


I changed the demand charge for Equitrans k#270 on the Aug and Sep
worksheet.  Would you let me know what the capacity deal tickets are and I
will change Sitara as well.

thanks


Start Date: 1/16/02; HourAhead hour: 18;  HourAhead schedule download failed. Manual intervention required.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002011618.txt
Error: dbCaps97Data: Cannot perform this operation on a closed database
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
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!!!Unknown database.
Alias: dbCaps97Data
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Alias: dbCaps97Data
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Alias: dbCaps97Data
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Alias: dbCaps97Data
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!!!Unknown database.
Alias: dbCaps97Data
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Alias: dbCaps97Data
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Alias: dbCaps97Data
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Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
Error: dbCaps97Data: Cannot perform this operation on a closed database


NOTE:     Location of this meeting has been changed to the NYISO Offices at
290 Washington Ave. Extension in Albany.  Directions are attached:

(See attached file: Directions to NYISO at Wash Ave Ext.doc)

The Reliability Compliance Monitoring Subcommittee ("RCMS") of the New York
State Reliability Council ("NYSRC") is posting this message to inform all
interested parties of the ability to attend in person or participate, on a
"listen-only" basis, in the NYSRC RCMS's Meeting No. 23 scheduled for
Thursday,
November 1, 2001, starting at 10:00 A.M. at the New York Independent System
Operator
("NYISO") Power Control Center at 290 Washington Ave. Extension in Albany,
NY.
Attached in Word format is the Agenda for this meeting.  The NYSRC has
opened its
Committee, Subcommittee, and Working Group meetings in accordance with
NYSRC
Policy No. 2, available by clicking on the following:
"http://www.nysrc.org/tcweb/pdf/Policy%202-3%20Final.pdf".

Those who plan on attending the meeting in person are requested to contact
Mr. George Loehr at least three (3) days in advance of the meeting (by at
least October 29th) by sending an email to "gloehr@eLucem.com", with the
names
of the individuals & organizations attending.  Meeting space will be
available on a first-come, first-served basis due to the space limitations
of the conference rooms.

Those wishing to participate on a "listen-only" basis can call (954)
797-1657, and enter Participant Code 493440, starting at 10:00 A.M.
Participants will be required to place their telephones on mute so as not
to prevent other parties from participating.  Those who plan on listening
to the meeting shall send an email to Mr. Loehr's attention at
"gloehr@eLucem.com" with the names of the individuals & organizations
participating.

Attendees who are not NYSRC RCMS Members or Alternate Members will be given
an opportunity to comment at the end of each meeting, or earlier at the
Chairman's invitation.

Joseph C. Fleury
Secretary, NYSRC Executive Committee

Agenda:   (See attached file: RCMS Mtg#23 Agenda.doc)
 - Directions to NYISO at Wash Ave Ext.doc
 - RCMS Mtg#23 Agenda.doc


Interesting.
---------------------- Forwarded by Peter Keohane/CAL/ECT on 08/18/2000 08:14
AM ---------------------------

Enron Europe Office of the Chairman
08/18/2000 05:44 AM
Please respond to Enron Europe Office of the Chairman
Sent by: Enron Europe General Announcement
To: Enron Legal, Enron Executive Committee, ECT Europe, Enron VPs and MDs 1,
Enron VPs and MDs 2
cc:
Subject: Organisational Announcement

We are pleased to announce that we have appointed Michael Brown as Chief
Operating Officer of Enron Europe.

Michael joined Enron,s London legal department in 1995 and has played a key
role in the success of many of our large commercial ventures since then.  In
July 1999, he was made Enron Europe,s General Counsel.  Replacing Michael in
the General Counsel role will be Mark Evans who joined our legal department
in 1995.

Please join us in congratulating Michael and Mark in their new roles.


The following reports on Andy Cornfield's meetings in NY and Chicago and one
with Craig Young have been posted in S\Mg\Administration\Meeting Reports\

MG NY - MGL Inc
MG NY - Primary Metals Agency Business
MG NY - 2ndary Al Business (Chicago)
MG Funds Business


your receivers are terrible - i am trying to help you out!

Phillip M Love
08/29/2000 07:58 AM
To: Eric Bass/HOU/ECT@ECT
cc:
Subject: Re: QB

I will get back to you when I stop laughing.
PL


Enron Global Travel Management (a division of Global Strategic Sourcing) is
pleased to announce that American Express Corporate Cardholders can now view
account details Online.

Highlights of this service include:
 Review previously billed, current, and unbilled charges
 Review corporate direct payments and personal payments applied to your
account
 Dispute a charge online, if needed
 Access customer service 24 hours a day, 7 days a week

To Log On to American Express Online Services:
GSS has prepared a special registration/log on page for Corporate Cardmembers
for your convenience.  To access it, go to http://travel.enron.com and click
on the Corporate Card button.

Cardmembers with cards issued within the last 45 days, need to call American
Express customer service to enroll.  The number is 1-800-297-1234.

If you have already registered your Personal American Express Card in the
American Express Online Services program:
Please click on the "Check Your Bill" link and login using your existing User
ID and password.  You will be able to add your American Express Corporate
Card to your existing registration by clicking on the "Update your Online
Profile" link which appears on the left hand menu bar once you are logged in.

We hope you enjoy using American Express Online Services.

For questions or additional information, contact Tracy Ramsey (Director,
Global Travel Management) at 713/853-6457.


I have attached the ESA GE Consent as conformed per our discussions last week
on the ENA deal, and because the "break-out" contracts are still in draft
form.  I This is the version we will be delivering at the closing.

Kay - I will let you know when we fund.

Thanks,

Rose


Monika,

David Allan would like for you to come speak with him about this.

Peggy


Effective, February 1, 2001, ENW Contractors are required to utilize the
SAP/CATS systems to record all time worked.  Each Cost Center Owner is
responsible for keeping track of their Contractors, hours on a monthly basis,
as well as ensuring Contractor compliance with this mandate.

At the end of each month, ENW Accounting is providing Contractor reporting to
Office of the Chair.  However, the accuracy of this report is dependent on
Contractors entering their time into SAP.

As a result, going forward, a second &non-compliance8 report will be
submitted to Office of the Chair on a monthly basis, detailing Contractors
not entering their time and the Contractor supervisor.  Please contact Diane
Latson (X5-7184) if you believe your contractors are exceptions and should
not be entering time.

Contractor Time Entry

Contractors are required to enter their time in eHRonline to one of the
following: (1) project numbers, which are called WBS Elements; (2) cost
centers, which are associated to a specific department and not a formal
project.  It is the Supervisor,s responsibility to ensure Contractors are
provided with the proper project or cost center coding.

Unlike invoice coding, SAP will only accept a Cost Center or WBS element
number for each time entry line.  This means that you cannot enter a Cost
Center and a WBS element number on the same line.  SAP will read this
information from left to right and will only pick up the first entry.  For
example:

  CostCenter  WBS Element
  123456  c.9999.99.99.99

The system will look at this entry and all time will be charged as expense to
Cost Center 123456.

Any questions regarding  time entry coding should be directed to ISC HR
support x5-4727.


Harry:

Got the bid documents for ConEd's offering of peaking capacity for PJM East (Lakewood, New Jersey).  Can't imagine they would entertain an Enron bid right now without confiscatory credit pricing.  Do you want to bid anyway?  Let me know.


Rod:  Did you have a chance to speak with Dale?  SS
---------------------- Forwarded by Sara Shackleton/HOU/ECT on 07/26/99 06:53
PM ---------------------------

Dale Rasmussen
07/26/99 06:37 PM
To: Sara Shackleton/HOU/ECT@ECT
cc:
Subject: PacifiCorp ISDA master

Sara:  If the PacifiCorp ISDA we discussed last week is in or through the
hopper, will you please forward a copy to me?  The guys on the floor would
like to pull together a form of confirm that they can show to PacifiCorp when
they meet with them later this week.  The date hasn't yet been set, but it
could be in a few days.

I hope you had a good weekend.

Perhaps we can talk tomorrow.

Thanks.


Sorry that I've been incommunicado.  At the UC Berkeley conference yesterday,
and on my way to an AB 1890 meeting to present on gas in about 5 minutes.
Got your message re: PR firm.  Sounds good.  When I'm back in tomorrow, I'll
fill you in on yesterday's conference and today's meeting.

Best,
Jeff


Louis,

Cynthia says Select Energy sent the funds in question to the wrong bank account (Corp acct).  Cynthia will create a journal entry to clear these items.
Please disregard Select Energy invoices on the AR Redlist Co 364.

Regards,

Angelo


FYI, FERC has issued a notice of technical conference to discuss the issues
surrounding El Paso's proposal addressing system-wide capacity allocation.
The conference is scheduled for Wednesday, July 18 and will continue through
Thursday, July 19 if necessary.  "Parties protesting aspects of El Paso's
filings should be prepared to discuss alternatives."  (in other words --
don't come just to gripe and bitch!)


Hey Baby,

I dont know if this email looks like it's from me.  Anyway, I'm REALLY
tired.  I got probably about 6.5 hours of sleep but I guess it wasn't
enough.  It's gonna be a long week - okay 4 days.  I'm sorry about
waking you up last night.  I'm meeting Jen Garcia at 1 to work on the
project, but I should be home around 6.

Have fun working out tonight!  I will call you when I get home, but I
will try to email you again!

Love you,
Jenn

By the way-did you email my mom?


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 01/19/2001
09:44 AM ---------------------------

Sandeep Kohli@ENRON_DEVELOPMENT
01/19/2001 05:42 AM
To: Vince J Kaminski@ECT
cc:
Subject: From the Enron India Newsdesk- Jan 18th newsclips

Vince,

FYI.
---------------------- Forwarded by Sandeep Kohli/ENRON_DEVELOPMENT on
01/19/2001 05:12 PM ---------------------------

From the Enron India Newsdesk- Jan 18th newsclips

Untie Them (Editorial)
Thursday Jan 18 2001, http://www.economictimes.com/today/18edit02.htm
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State not to give tax sops to DPC for buying naphtha from IOC, (Sanjay Jog)
 Thursday Jan 18
2001,http://financialexpress.com/fe/daily/20010118/fec18056.html
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Centre yet to receive proposal on Enron
Thursday Jan 18 2001, http://www.economictimes.com/today/18infr02.htm

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Untie Them (Editorial)
Thursday Jan 18 2001

THE GOVERNMENT of Maharashtra wants New Delhi to convince the Power Trading
Corporation, a central utility, to buy power from Dabhol and sell it across
the country.It would be far simpler if Dabhol  and all independent power
producers  were allowed to sell power to whoever was willing to pay for
it.That, unfortunately, is not allowed by law, which forces private sector
generators to sell power only to state utilities, which in turn, are not
permitted to sell power across states on their own.

Most state electricity boards are bankrupt . MSEB reportedly owes central
utilities Rs 5,000 crore. They cannot bring themselves to charge many types
of users for the power consumed, nor can they prevent large-scale theft of
electricity. Few, including wealthy Maharashtra, have the will to reform
state electricity boards and privatise transmission and distribution. Given
this profile of buyers, private generators demand sovereign guarantees to
help them tide over default risks. But the guarantees merely insulate IPPs
against risk. They cannot make SEBs solvent. Yet, India needs power
desperately. Maharashtra, India,s richest state, experiences power shortages
of around 2,000 MW, about a sixth of its peak needs.

Over time, the hunger for power will only grow. India cannot afford to wait
for the painful politics of SEB reform to work themselves out. The government
should bring in legislation that allows IPPs to sell power directly to paying
customers.This will free IPPs from the clutches of bankrupt monopsony buyers.
The power trading legislation will have unexpectedly happy consequences for
the government too.Once IPPs are freed from their onerous obligations to sell
power to single, mostly bankrupt buyers, their default risks will come down
substantially. New Delhi and state governments should then scrap the
guarantees that they gave IPPs in the past.
The combination of power trading, private investments in generation,
transmission and distribution, and gradual SEB reform  will create a
commercial, workable and competitive power market in India. Anything less
will be a recipe for disaster.

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State not to give tax sops to DPC for buying naphtha from IOC, (Sanjay Jog)
 Thursday Jan 18 2001

The Maharshtra government's finance department, which is striving to reduce
fiscal deficit from Rs 9,484 crore to Rs 3,484 crore by the beginning of
April this year, has expressed its inability to provide a sales tax waiver to
the Dabhol Power Company (DPC) on the procurement of 1.2 million tonne of
naphtha from the state-run Indian Oil Corporation (IOC).

Mantralaya sources told The Financial Express on Wednesday that DPC would
have to pay 4 per cent sales tax. "The government, way back in 1995, has
modified the sales tax rate to 4 per cent to discourage the import of naphtha
from Gujarat by electrical companies operating in Maharashtra. The decision
was taken with a view to encouraging electrical companies to procure naphtha
at reduced rates within the state," government sources added. Sources said
that these companies had to pay nearly 15.3 per cent sales tax on naphtha
that was procured from Gujarat. However, following their representation, the
government slashed the sales tax rate to 4 per cent.

The state finance department's opinion, which would be presented before the
state cabinet shortly in order to take a final decision, deserves special
significance especially when the state energy department and the loss-making
Maharashtra State Electricity Board (MSEB) have wholeheartedly supported the
DPC's cause and recommended the sales tax waiver. DPC, which was asked by the
Union ministry of oil and petroleum to procure naphtha within the country in
view of excess availability, in its presentation to the state government and
to MSEB, had made it clear that it would be left with no alternative but to
pass on the additional burden on the MSEB which would be ultimately passed on
to its consumers. DPC had also told the state government that it had not paid
sales tax on the procurement of naphtha from Glencore in the calender year
2000.

Sources from the state energy department and MSEB have stressed on the need
for such a waiver while expressing their inability to bear additional burden.
They have suggested that the state should reciprocate by offering a sales tax
exemption to DPC because the IOC, at the behest of the Centre, has tried to
match the international landing price of naphtha during the recently signed
memorandum of agreement with DPC. "If the state finance department sticks to
its views, it may hurt the state as a whole," sources from the state energy
department and MSEB said.DPC will procure naphtha at Rs 11,050 per ton from
IOC during the calender year 2001 as compared to the Rs 10,050 per tonne
price quoted by Glencore. The naphtha price comprises $175 per tonne free on
board (FOB), 21.8 per cent of customs duty, 5.4 per cent of sales tax and
$18.87 of premium.

DPC senior vice president Mukesh Tyagi reiterated that the company has
already made an appeal to the state government for the sales tax waiver on
naphtha in the larger interest of the consumers. "Sales tax is a pass through
and MSEB, which will have to bear the additional burden, will pass it on the
consumers," he added.
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Centre yet to receive proposal on Enron
Thursday Jan 18 2001

CENTRE on Wednesday said that it had not recevied any proposal from
Maharashtra government seeking help to solve the tangle with the Enron
promoted Dhabol Power Project relating to cost and surplus power. Asked about
the reports that Maharashtra government was sending a proposal that centre
buy surplus power from Dhabol Power Company through power trading
corporation, power minister Suresh Prabhu said "we have not received any
proposal." "We are carefully watching the situation and will await a concrete
proposal before intervening in this matter," Parbhu said on the sidelines of
greentech environment excellence awards ceremony, here. Asked whether there
was any possibility of the government asking the Power Trading Corporation to
buy power from the Dhabol Power Corporation, Prabhu replied "what will the
PTC do with the power?"

Prabhu had earlier asked the state government to study the matter before
approaching the centre for payment of dues. MSEB had earlier declined to pick
up its 15 per cent stake in phase II of the 1444 mw project. The Enron issue
has been hanging fire with the Maharashtra State Electricity Board unable to
clear the dues of DPC as a result of the skyrocketing prices of Naphtha
infact MSEB has asked DPC to backdown completely leading to a situation where
DPC has stopped production at the facility from the begining of the
month.State government has stepped in with support to the tune of Rs 114
crore to enable MSEB to clear the dues for October. MSEB dues to DPC for
November and December amount to over Rs 300 crores.


I changed the Oct 2000 volume on deal 203062 (tagg NA1167.8) from 95244 dth
to 95246 dth.

Please make the following change:
Deal 203030 (NA1137.4)  change the volume for April from 50,857 dth to 13,527
dth, and change the volume for May from 17,866 dth to 4,752 dth.

Please verify the following info;
The confirm for deal 169036 (NA0713.1) shows a price of $2.295 + $.6800,
according to CES this should be a price of $2.795 + $.6800.  Please verify
which price is correct.

The confirm for deal 168997 (NA0713.4) shows a basis price of $.455 for April
and CES is showing $.175.  Please verify which price is correct.


I sure hope it is this week.  It will either be this week, or a while.  How's
that for keen analysis?

It would seem to me that if we end up with breakout contracts signed by E
Next, we should use the break out form, plus an override letter.  What do you
think?

From: Sheila Tweed@ECT on 03/19/2001 01:41 PM
To: Kay Mann/Corp/Enron@ENRON
cc: Carlos Sole/NA/Enron@Enron, Dale Rasmussen/HOU/ECT@ECT

Subject: RE: GE LM-6000 purchase contract for Las Vegas Cogeneration II pr
oject

Last time I talked with Lee he was anxious to get the break out contract
signed.  Your plan works fine as long as we can wait to sign the breakout
contract.

	Kay Mann@ENRON
	03/19/2001 12:25 PM

		 To: Sheila Tweed/HOU/ECT@ECT
		 cc: Carlos Sole/NA/Enron@Enron, Dale Rasmussen/HOU/ECT@ECT
		 Subject: RE: GE LM-6000 purchase contract for Las Vegas Cogeneration II pr
oject

Here's a general description of the steps:

Letter agreement signed
Final form of break out presented to purchaser (not executed by Enron LLC)
$ deposited in escrow
TurboPark notice given

Closing date:

TurboPark closing docs signed (bill of sale, assignment & assumption)
LLC signs breakout contract
Amended LLC, other closing docs executed
Money released from escrow to Enron
Enron pays off TurboPark

This is how it worked on the Intergen deal.  I was unsure from your email if
you see a problem with this process.

Kay

From: Sheila Tweed@ECT on 03/19/2001 12:06 PM
To: Carlos Sole/NA/Enron@ENRON
cc: Carlos Sole/NA/Enron@ENRON, Dale Rasmussen/HOU/ECT@ECT, Kay
Mann/Corp/Enron@Enron

Subject: RE: GE LM-6000 purchase contract for Las Vegas Cogeneration II pr
oject

Sounds like a plan, but do not sign a breakout contract in an Enron entity
until you hear further.


Since your Catholic, I thought you might find this funny. Who knows this
might have even happened to you! Just kididng--Emmye

-----Original Message-----
From: bmills@concentric.net [mailto:bmills@concentric.net]
Sent: Tuesday, September 19, 2000 7:21 PM
To: Emmye Partin
Subject: Fw: FW: Don't fall asleep in church

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-----Original Message-----
From: bmills@concentric.net <bmills@concentric.net>
To: mills@hardinlaw.com <mills@hardinlaw.com>
Date: Tuesday, April 25, 2000 9:46 AM
Subject: Fw: FW: Don't fall asleep in church

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>Date: Wednesday, January 12, 2000 9:23 AM
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