Notice # 01-156
May 9, 2001

TO:
All NYMEX Members and Member Firms

FROM:
Neal L. Wolkoff, Executive Vice President

RE:
NYMEX Post-Close Trading Session Rules

DATE:
May 8, 2001
===========================================================

This Notice advises Members and Member Firms of changes to the two
post-close session rules applicable to the NYMEX Division.

!    As a result of amendments to both rules, the post-close sessions
generally offered Monday-Thursday will be the same as the Friday sessions
with two exceptions.

!    Monday-Thursday. These sessions will start at 3:25 p.m. and will be
two minutes long.

!    Fridays. These sessions will start at 3:30 p.m. and will be five
minutes long.

End of Week Post-Close Trading Session (Rule 6.57A)

As a reminder and as a follow-up to a Notice distributed last week, please
be advised that beginning on Friday, May 11, 2001, a number of amendments
to NYMEX Rule 6.57A, the NYMEX End of Week post-close trading session rule,
will become effective. The new version of this rule is attached below.

For Friday post-close sessions (and for post-close sessions the day before
a mid-week Exchange holiday) the following changes will be in effect:

(1)  Eligible contract months will be expanded from the first four to the
first 12 consecutive listed contract months.

(2)  The sessions now will be 5 minutes in duration.

(3)  The trading range for 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

Monday-Thursday Post-Close Trading Sessions (Rule 6.57)

In addition, please be advised that beginning on Monday, May 14, 2001, a
number of amendments to NYMEX Rule 6.57, the Exchange's post-close trading
session rule for days other than Fridays, will become effective.  The new
version of this rule is attached below.

(1)  Eligible contract months will be expanded from the first four to the
first 12 consecutive listed contract months.

(2)  The trading range for 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

(3)  Customer participation will be expanded to the same extent as is
permitted for the End of Week Post Close Session. Please note that any
order submitted during the RTH session, including but not limited to
resting orders such as stop orders, limit orders and good until cancelled
(GTC) orders, will be deemed to have expired as of the end of RTH for
purposes of this Session.  Accordingly, in the event that a market
participant with such an expired order seeks to participate in the Session,
a new order must be submitted.

(4)  As a consequence of the expanded trading range and customer
participation, trades done during this period will be price reported on
PRS.

Finally, please be advised that, as a matter of practice, the Exchange does
not currently offer post-close trading sessions for Propane futures
contracts.

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.

NEW VERSIONS OF  NYMEX RULE 6.57("POST-CLOSE TRADING SESSION") AND
NYMEX RULE 6.57A ("END OF WEEK TRADING SESSION")

Rule 6.57.      ("POST-CLOSE TRADING SESSION")

Fifteen (15) minutes after the close of trading in all futures contracts,
or five (5) minutes after the closing range is established for all
applicable contract months other than contract months in the Sour Crude Oil
futures contract, whichever is later, trading shall resume for a period of
two (2) minutes (the ``Session'') in all energy futures contracts, subject
to the following conditions:

(A) Trading during the Session shall be limited to the first twelve listed
delivery months;

(B) Trades occurring during the Session for a particular contract month of
a futures contract shall be executed openly and competitively at a price
within the daily trading range of the applicable contract month for that
futures contract and as further expanded above the daily high and below the
daily low only for the contracts listed below provided however that no such
expanded trading range may exceed the price fluctuation limits in effect
for the applicable contract as of the end of the RTH session:

Contract                 Additional Ticks

Crude Oil                20 ticks
Natural Gas                   50 ticks
Unleaded Gasoline             50 ticks
Heating Oil                   50 ticks

(C) During the Session, Floor Members, Floor Brokers and their customers
may participate in the same manner as trading occurring during the regular
RTH session, except that any order submitted during the RTH session,
including but not limited to resting orders such as stop orders, limit
orders and good until cancelled (GTC) orders, will be deemed to have
expired as of the end of RTH for purposes of this Session.  Accordingly, in
the event that a market participant with such an expired order seeks to
participate in the Session, a new order must be submitted.

(D) Prices for trades executed during the Session shall be reported on
public ticker services as current market prices and trades executed during
the Session shall not be considered in determining any settlement price;
and

(E) Floor Members executing trades during the Session shall mark a line
across their trading cards prior to the entry of a Session trade.

Rule 6.57A.     END OF WEEK TRADING SESSION

On the last trading day of the calendar week, and, in any week when an
Exchange holiday falls on a Tuesday, Wednesday or Thursday on the trading
day preceding such midweek Exchange holiday, there shall be no post-close
trading session provided on the trading floor pursuant to Rule 6.57.
Instead, on such dates, an end of week trading session (the "End of Week
Session'') shall commence on the trading floor pursuant to this rule and
subsequent to the close.  Except as otherwise provided by the President or
the President's designee for a particular trade date, such End of Week
Session shall commence twenty (20) minutes after the close of trading in
all futures contracts and shall continue for a period of  five (5) minutes
in all energy and metals futures contracts, subject to the following
conditions:

(A) Trading during the End of Week Session shall be limited to the first
twelve listed delivery months;

(B) Trades occurring during the End of Week Session for a particular
contract month of a futures contract shall be executed openly and
competitively at a price within the daily trading range of the applicable
contract month for that futures contract and as further expanded above the
daily high and below the daily low only for the contracts listed below
provided however that no such expanded trading range may exceed the price
fluctuation limits in effect for the applicable contract as of the end of
the RTH session:

Contract                 Additional Ticks

Crude Oil                20 ticks
Natural Gas                   50 ticks
Unleaded Gasoline             50 ticks
Heating Oil                   50 ticks

(C) During the End of Week Session, Floor Members, Floor Brokers and their
customers may participate in the same manner as trading occurring during
the regular RTH session, except that any order submitted during the RTH
session, including but not limited to resting orders such as stop orders,
limit orders and good until cancelled (GTC) orders, will be deemed to have
expired as of the end of RTH for purposes of this End of Week Session.
Accordingly, in the event that a market participant with such an expired
order seeks to participate in the End of Week Session, a new order must be
submitted.

(D) Prices for trades executed during the End of Week Session shall  be
reported on public ticker services;

(E) Current market prices and trades executed during the End of Week
Session shall not be considered in determining any settlement price; and

(F) Floor Members executing trades during the End of Week Session shall
mark a line across their trading cards prior to the entry of an End of Week
Session trade.

      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


Enron Cycling Club Meeting
Tuesday, September 18, 11:30 a.m.
EB23C1

We will be discussing upcoming rides and will also have guest speakers to talk about the Alamo Challenge and Novemberfest.

Please RSVP to me by 9:00 a.m. Monday morning so that I'll know how much food to order.

Steph :  )


As our existing businesses grow and new businesses are created, ease of
movement and development of our top talent becomes essential to our success.
As you heard at the Management Conference all officers will be titled,
reviewed, promoted, and compensated according to a more standard set of
guidelines.  The process recognizes the intrinsic value of each officer,
rather than tying that individual to the value of their specific job or
reporting relationship.

Officer titling has been standardized throughout Enron.  There are four
levels of officers: members of the Enron Office of the Chairman make up Level
4.  Level 3 includes all other members of the Enron Executive Committee.
Level 2 is made up of managing directors, including company presidents and
some senior vice presidents.  Level 1 are vice presidents and some senior
vice presidents with grandfathered titles.

This year a common evaluation process is being implemented for Level 1 and
Level 2 officers.  Officers will be evaluated by a committee, through a
process referred to as the Performance Review Committee (PRC), utilizing a
standard set of performance criteria and performance ratings.  Performance
committee reviews will occur twice a year ) in July for feedback purposes and
at year-end for feedback as well as bonus and total compensation
considerations.  The Executive Committee will handle the PRC for all Level 2
officers. Review of Level 1 officers will occur at the business-unit level
first with the results &cross calibrated8 by the Executive Committee and a
group of approximately sixteen managing directors.

The goals of the PRC process is to insure a consistent standard for our
overall pool of executive talent and to provide a tool to more effectively
utilize talent throughout the organization.  To further promote consistency
the Executive Committee will consider all promotions in January of each
year.  Exceptions, internally or externally, will be infrequent.

The individual,s performance evaluation will be the starting point for all
compensation decisions.  Compensation includes base pay, bonus and long-term
awards.  A long-term program that replaces individual or business unit plans
has been approved and will be communicated to individuals before bonus
payments are made.

In addition to the Level 1 and Level 2 reviews, business unit, global and
corporate cross-functional PRC reviews for directors, senior directors and
general managers have started.  This year-end process will be utilized as a
benchmark to determine how we further refine the evaluation process at this
level in the future.

If you should have any questions about the process, please direct them to
your Human Resources Business Unit Leads per the following:

Mary Ann Long (GPG) x36810    David Oxley (ENA/EEL/Global Trading) X33557
Ray Bennett (EES) X37039    Robert Jones (Global Technology/Global
Finance/Global
Gwen Petteway (Corp) X37351      Asset Operations/Global Engineering &
Construction) X35810
Janie Bonnard (Caribbean/Middle East/   Scott Gilchrist (Asia
Pacific/Africa/China) X67081
  LNG) X68202      Gerry Chatham (EGEP) X35141
Miguel Padron (ESA) X66552    Marla Barnard (ECI) X58158
Ranen Sengupta (India) X67967

cc: Enron Executive Committee Members

28599


put this into the congestion redesign file if you haven't alread.
---------------------- Forwarded by Tim Belden/HOU/ECT on 08/08/2000 09:55 AM
---------------------------

Susan J Mara@EES
05/16/2000 08:33 AM
To: Steven J Kean/HOU/EES@EES, Richard Shapiro/HOU/EES@EES, Tim
Belden/HOU/ECT@ECT, Joe Hartsoe/Corp/Enron@ENRON
cc:
Subject: CAISO Congestion Model

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

	Carl Imparato

	04/24/2000 12:49:26 PM

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

Ziad:

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

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

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

Carl

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


ADDING HIM TO THE LIST IS FINE WITH ME!

 -----Original Message-----
From: 	Soignet, Kenny
Sent:	Monday, April 16, 2001 1:48 PM
To:	Gaskill, Chris; Jim Schwieger/HOU/ECT@ENRON
Subject:	Agustin Perez is requesting to be added to the AGA list

This is his information.  He works for Enron Mexico.  Let me know if I should add him.
Thanks
Kenny

AGUSTIN  PEREZ
CONTACT INFO COMPANY INFO

Phone : 0115281522413 Employee Type : ENRON EMPLOYEE
Email : agustin.perez@enron.com Job Title : MANAGER
Location : ENRON DE MEXICO - MONTERREY Supervisor : WILLIAMS, JAIME
Fax : 0115281522449 Contract Company : ECT NON U.S. PAYROLL COMPANY
Cellular : 0115283624033 Company Number : G-016
Pager :  Cost Center : MONTERREY
Click here for others in Cost Center
  City : MONTERREY
---------------------- Forwarded by Kenny J Soignet/HOU/ECT on 04/16/2001 01:44 PM ---------------------------
From:	Agustin Perez@ENRON on 04/16/2001 01:01 PM
To:	Kenny J Soignet/HOU/ECT@ECT
cc:
Subject:	AGA for 4/6/01 is 14 injection

Kenny,
Could you please include me in the distribution list for the AGA report.
Thanks,

Agustin Perez

----- Forwarded by Agustin Perez/NA/Enron on 04/16/2001 01:01 PM -----

	Lucy Ortiz@ECT 04/11/2001 01:11 PM 	   To: Agustin Perez/NA/Enron@ENRON  cc:   Subject: AGA for 4/6/01 is 14 injection

maybe you should get on this distribution list...
---------------------- Forwarded by Lucy Ortiz/HOU/ECT on 04/11/2001 01:10 PM ---------------------------

Kenny J Soignet
04/11/2001 01:05 PM
To:	Phillip K Allen/HOU/ECT@ECT, John Arnold/HOU/ECT@ECT, Berney C Aucoin/HOU/ECT@ECT, Sandra F Brawner/HOU/ECT@ECT, Janet R Dietrich/HOU/EES@EES, Julie A Gomez/HOU/ECT@ECT, Keith Holst/HOU/ECT@ect, Joseph Hrgovcic/HOU/ECT, Calvin Johnson/CAL/ECT@ECT, Heather Kendall/HOU/ECT@ECT, Thomas A Martin/HOU/ECT, Jean Mrha/NA/Enron@Enron, Scott Neal/HOU/ECT@ECT, Jim Schwieger/HOU/ECT, Jeffrey A Shankman/HOU/ECT, Hunter S Shively/HOU/ECT@ECT, Kenny J Soignet/HOU/ECT@ECT, Colleen Sullivan/HOU/ECT@ECT, Chris H Foster/HOU/ECT@ECT, Fred Lagrasta/HOU/ECT@ECT, Michael Cowan/CAL/ECT@ECT, Chris Connelly/LON/ECT@ECT, Matthew Lenhart/HOU/ECT@ECT, Daniel Diamond/HOU/ECT, Per Sekse/NY/ECT@ECT, Lee L Papayoti/HOU/ECT@ECT, Liz M Taylor/HOU/ECT@ECT, Sunil Dalal/Corp/Enron, Clayton Vernon/Corp/Enron@ENRON, Frank Hayden/Corp/Enron, Kimberly Hillis/HOU/ECT, Elsa Piekielniak/Corp/Enron@Enron, Sachin Gandhi/NA/Enron@Enron, Paul T Lucci/NA/Enron@Enron, Caroline Abramo/Corp/Enron@Enron, Russell Dyk/Corp/Enron@ENRON, Paul Bieniawski/Corp/Enron@ENRON, Gregory Schockling/Corp/Enron@ENRON, Mog Heu/NA/Enron@Enron, Bharat Khanna/NA/Enron, Jennifer Fraser/HOU/ECT, Tammie Schoppe/HOU/ECT@ECT, Elsa Villarreal/HOU/ECT@ECT, Mike A Roberts/HOU/ECT@ECT, Chris Gaskill/Corp/Enron@Enron, GASFUNDY@Enron, Lucy Ortiz/HOU/ECT@ECT, Jeff Andrews/NA/Enron@Enron
cc:
Subject:	AGA for 4/6/01 is 14 injection

AGA for 4/6/01 is 14 I/J

In addition to the net injection of 14 BCF of working gas into storage 2 BCF of base gas was injected into the producing region.
To date, a net of 9 BCF has been withdrawn.
Website information:
http://gasfundy.corp.enron.com/gas/framework/default.asp
Drop down Box to "Storage"
In-house Analysis
My files are the last three files.

When the dialog box asks to upadate links click "NO".

<Embedded Picture (Device Independent Bitmap)>


Vince:  Tony Vasut, another recruiter, is bringing Mark Boland in for a
series of interviews on 3/20 and 3/21, and asked if there was any chance that
you or someone in your group would be able to interview him.   His resume is
attached, and I will also send you a list of his deals under separate
cover.    Shirley has told me that you will be in and out for the next
several weeks, so if you are unavailable would you please suggest someone
else in your group who might be able to interview Mark?

Thanks, as always,
Molly

 -----Original Message-----
From:  Vasut, Tony
Sent: Tuesday, March 13, 2001 9:59 AM
To: Magee, Molly
Subject: FW: Mark Boland - CV

Molly:
Here is Mark's resume as discussed.  Please let me know if anyone in research
(preferably Vince) is available to meet w/ him on either 3/20 or 3/21.

Thanks,
Tony
 -----Original Message-----
From:  Port, David
Sent: Monday, March  12, 2001 10:46 AM
To: Vasut, Tony
Subject: FW: Mark Boland - CV

 -----Original Message-----
From:  Mark.Boland@seb.se@ENRON
[mailto:IMCEANOTES-Mark+2EBoland+40seb+2Ese+40ENRON@ENRON.com]
Sent: Monday, March 12, 2001 8:10 AM
To: Port, David
Subject: Mark Boland - CV

> To summarize my situation: I'm in charge of structuring equity linked, IR,
> FX, commodity and other
> linked bonds and investments for one of Northern Europe s leading banks.
> I'm 34 years old and married to Lisa who is Swedish. I have over 7 years
> in the Structured Derivatives business in Capital
> Markets, with a solid Wall Street foundation at Bankers Trust and overseas
> at a more senior level
> of sales, structuring and managing deals from conception to completion.
>
>  <<boland.doc>>
>
> Thanks and regards,
> Mark
>
> Mark M. Boland
> SEB Merchant Banking
> 10640 Stockholm, Sweden
>
> Telephone +46 8 5062 3224
> Cell            +46 70 772 3224
>
> This e-mail is from SEB, Skandinaviska Enskilda Banken. It may contain
> privileged and confidential information and is intended for the named
> recipient(s) only. If you are not an intended recipient, please notify us
> immediately by reply e-mail, delete this e-mail from your system and
> destroy any copy hereof.
>

 - boland.doc


Thanks, Janel.  I hope to hear from the Governor's office late this afternoon.

Rosie

Janel Guerrero
04/27/2001 02:39 PM
To: Rosalee Fleming/Corp/Enron@ENRON, Maureen McVicker/NA/Enron@Enron, Jeff
Dasovich/NA/Enron@Enron
cc: Richard Shapiro/NA/Enron@Enron, Paul Kaufman/PDX/ECT@ECT
Subject: ken lay tour

Just so we're all on the same page......Dasovich will arrive in Houston on
Monday (mid-day) and will travel with Dr. Lay beginning on Wednesday (to
Austin) and then on to LAX, Sacramento etc.  Steve said there really isn't
time to have a pre-briefing so any questions that Ken has will have to be
addressed enroute to CA.

Rosalee....we're giving Steve the briefing book today so he can review over
the weekend and we'll have a final copy to Ken before he departs next week.


Attached is the information you requested regarding American Military Univeristy. If your e-mail package cannot handle attachements click http://www.amunet.edu/AMUv2/Content/Global/downloads.asp to view forms. If you are asked for a password when trying to view a form, click cancel and the document will continue to load.
 - GeneralInformation.doc


I am in London this week for a series of meetings and an appeal to the House
of Lords of the lawsuit that I was over here for in July(we won $130 USD)
What a dreary place in the winter. I dont have much to report. I have been
traveling a bunch--- in the last 10 days, I have been to Portland, Calgary,
LA, St. Louis, and now London. Julie has held her tongue because of her
impending 8 weeks in Austin this summer. The kids are great. Lots of sibling
rivalries going

I have been biking with Garribaldi and Worscheh in preparation for our
participation in the Houston to Austin bike tour. Garribaldi has a new job
with a couple of big projects in the pipeline. Worscheh finally got his
financing on his project so he is pretty chipper these days. They are
pregnant again and out of space in their house. Missy Medary is running for
District Court Judge in Corpus Christi. She is running as a Republican in a
Democratic stronghold and her last name is not Perez or Medarcia so her
chances are slim. She is hoping for a George W. Bush coattail effect. Tom was
not all that keen on the idea the last time I talked to him. Don't quote me
on this but I think he is worried that she is a status seeker and that she
will have way too much of what she wants if she is elected( Judges tend to
have a lot of people kissing their ass) Rob and Amy are just holding on with
their 4 kids. I think Rob's job is going well: they made one large aquisition
at the bottom of the market and commodity prices have doubled. I haven't seen
anyone else,although I did talk to John Scott the other day. He works for a
firm in Dallas that does alot of Enron's work. I laughed at him when he told
me he is trying to get his kids into Country Day. He was always calling it
Country Gay. Tell Kinga I said hi if you are still...er...dating?


Rob,this deal is not dead; I am primarly waiting on NEPCO numbers.

You should be moving down the road on the deconstruction, refurbishment and
movement of the NB machines.   You should also be doing any development work
(permits, interconnection agreements et al) you need to do to maintain the
optionality of this project (let me know if the expenses get above $1MM).

Randy, please facilitate. Mike, can we put the screws to ABB given the
significant transformer business we forwarded their way?

Laura, we probably need to make a call on the Peoples turbine pretty soon.

Eric/Rob, I think we need to see the project with IDC come in  between 350 to
400/kw to be viable or I need a very detailed analysis of why it costs
significantly more than a Frame 7 machine in the US markets.

I would like see us make this work.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 06/02/2000
03:18 PM ---------------------------

Rob Milnthorp
06/02/2000 10:16 AM
To: David W Delainey/HOU/ECT@ECT
cc: Eric LeDain/CAL/ECT@ECT, Kyle Kitagawa/CAL/ECT@ECT
Subject: Moore Power Plant status

Dave, the impression we are getting is that Houston thinks this deal is dead
or on the back burner. Until you tell me otherwise, we are going full steam
ahead. Is there any way that you can help us get the airtime we need down
south? We are now down to crunch time, and I dont want to see this project
slip away due to control groups dragging their feet.

Regards
Milnthorp

---------------------- Forwarded by Rob Milnthorp/CAL/ECT on 06/02/2000 08:52
AM ---------------------------
From: Eric LeDain on 06/01/2000 05:12 PM
To: Kyle Kitagawa/CAL/ECT@ECT, Rob Milnthorp/CAL/ECT@ECT
cc:
Subject: Moore Power Plant status

The following is a status update of key current items:
1. We continue to try to confirm the viability of the Peoples units.  We have
not received NOx versus water injection data.  We still have not received the
full noise spectrum data.  It looks like the only source for this is ABB and
they're not fast.  Peoples and ourselves are going after ABB on these issues
(and the possibility of a change order on the exciter design which doesn't
meet Ontario specs).
 - we have confirmed that the municipality can provide 600 USGPM of water,
but the silica content has to be confirmed to see if it's a problem.  I met
with Terra Industrial Tuesday and they remain interested in providing the
treated water, but they would have to expand their treatment plant.  They can
provide 1/3rd of the water required and their permit can handle the waste
stream on regen for the full water flow - we're sorting out the optimum tank
capacity versus treatment plant capacity sizing to meet reliability at
minimum cost.  Bottom line is we've got options to handle this water flow and
we can avoid trying to get a permit for waste water.
 - we're going to use the noise consultant EE&CC used in conjunction with
Agra Envir. in Canada to sort out the low frequency noise problem, and check
the other frequencies against our nearest receptor, once we get the data from
ABB.
 - Peoples are checking with ABB on the possibility of a change order on the
exciter design.
2. MCN/Columbus have come back on the other two N2 units - they want another
$1 MM US and can't confirm any changes to the contract.
We are completing our comparison of the Peoples/MCN contracts - the MCN
contract is much better (guarantees, liquidated damages etc.) but of course
power output is less.
3. We kicked off Agra to prepare our permit amendment (using data from both
the Peoples N2's and MCN N2's).
4. NEPCO capital cost estimate will be ready June 9th.  It looks like $2-3 MM
will come out of the base estimate for the N1's due to the acceleration and
winter work coming out.  They still have to do the N2 estimate.  There might
be a chance to push this ahead to the end of the 7th if we were to pressure
them more.
5. We feel we can increase our N1 output up by 6 MW at 90F without
incremental O&M.  The Peoples units would add an incremental 40 MW at 90F.

Using the Peoples units our capital per kW at 90 F is $397 US/kW (using our
original $156 MM incl. IDC estimate less $2 MM).
Using the MCN units our capital per kW at 90F is $443 US/kW.

Issues:
1. We are not getting great support from Houston in many areas, with the
exception of some like Don Miller/Genco.  It appears that some groups like
underwriting/RAC and structuring either are getting the message this project
is not going ahead, or are taking our continued delays in approval to work on
all of their other priorities (hoping that we will go away presumably...).
Schedule becomes more of a concern every day.
2. The Ontario interconnection timing becomes more and more of a concern each
day that passes as OH isn't the fastest working entity.  Aleck and Duncan
continue to work the IMO/OHSC/OEB angles but with some of the rules not set
yet we may need higher level pressure at some time soon.  I'll let you know.


Recently, Jeff McMahon, Executive Vice President and Treasurer of Enron
Corp., accepted the position of Chief Commercial Officer of Enron Net Works.
Jeff's many accomplishments at Enron Global Finance ("EGF") include over $30
billion of closed financings and an upgrade of Enron's credit rating by
Moody's to Baa1.  We wish Jeff well in his new endeavor.

Ben Glisan, Vice President and head of EGF's Structured Finance business,
will assume Jeff's responsibilities as Vice President and Treasurer of Enron
Corp.  Ben joined Enron in 1996 from Arthur Andersen where he was responsible
for managing structured transactions with Enron.  Prior to Arthur Andersen,
Ben worked at Coopers & Lybrand providing accounting and finance services
principally to financial institutions.  Ben will be a member of the Enron
Corp. Executive Committee.

For additional details regarding EGF's organizational changes, please see the
attached memo.


As per our telephone call.
----- Forwarded by Mark Taylor/HOU/ECT on 01/08/2001 04:37 PM -----

	Tommy Yanowski/ENRON@enronXgate
	01/05/2001 11:11 AM

		 To: Mark Taylor/HOU/ECT@ECT
		 cc: Philippe A Bibi/HOU/ECT@ECT
		 Subject: ECOutlook Term Sheet

Attached is a copy of the term sheet that we discussed over the phone.
Please review and let me know how you'd like to move forward.  Thanks!  -
Tommy


Please see attached.  Thanks.


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Start Date: 4/8/01; HourAhead hour: 2;  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\2001040802.txt

---- Energy Import/Export Schedule ----
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 2 / 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_SKEETER
  ENGY_TYPE: WHEEL


Jeff and Greg,

Operationally, we are doing great, with tremendous press coverage (USA
Today, CNN, Newsweek, Boston Globe, etc...), growing traffic, and lots of
praise for our site and concept.  On the business development front, we are
now talking seriously with eBay about a distribution arrangement and with
Northwest about expanding to their full route system.

Meanwhile, we are running out of cash.  The money we've got in the bank will
last through early August (assuming an orderly shut-down).  In order to keep
our business development efforts alive, we're trying to raise $500k at a low
valuation in the next 30 days.  Would you be willing to consider a portion
of this amount as a personal investment?

Attached is an up-to-date overview of where we stand.

Best,
Frank Levy

 - Update 5_30_01 v2.ppt


I didn't think about it from your point of view and if some day I decide not to help anymore then you get hurt because your contribution falls.  So just disregard that suggestion.

I guess I'm trying to feel you out about the possibility of continuing this current arrangement long-term.  Because I will commit to purchase the current two (and would like to get two more for a total of 4) from now on.  It really would be better for me to continue this arrangement rather than get them on my own, because like you indicated, I would have to really pony up alot of $$ to keep similar seats.  I'm just not sure what your plans would be for my current tickets and if at some point you would like them back for yourself.  How did you end up with so many?  Is Mark still getting the two next to mine?  Just curious.  Don't worry about the OU tix,  I will find you on Saturday.  Thanks as always.

DG

 -----Original Message-----
From: 	<david.plaisance@us.pwcglobal.com>@ENRON [mailto:IMCEANOTES-+3Cdavid+2Eplaisance+40us+2Epwcglobal+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Thursday, August 30, 2001 10:19 AM
To:	Giron, Darron C.
Subject:	RE: Season tix are in

I got my files restored and indeed had you down for four OU tix.  So sorry.
Let's try to hook up Saturday.

I wouldn't mind help with the Foundation contribution, but the downside all
belongs to you.  I could practically guarantee that if you were to split
away and create your own foundation giving you'd get knocked out of your
seats unless you jumped in at the $2500 level/yr or higher.  Any money
given to me would not be qualified for a tax credit for you.  And if you
decide in the future to start anyway, you lose all the prior years
cumulative giving where you didn't start.  Any any money you gave me
wouldn't mean we'd be guaranteed better OU tix (or season tix) because I
would lower my personal contribution by the same amount.  I don't want to
be on the hook for the extra contribution should you decide in the future
to stop helping.  That said, that may not be important for you and you
won't mind sending me dollars.

I know I wouldn't be getting OU tix at all if it wasn't for my contribution
to the Foundation.  Not all Foundation members are getting OU tix any more,
so I continue to consider myself lucky to continue getting tickets at all.

Your choice!

Darron.C.Giron@enron.com on 08/27/2001 03:33:17 PM

To:   David Plaisance/US/FAS/PwC@FAS
cc:
Subject:  RE: Season tix are in

I believe it was $610.  That was (2X$195) + (4X$55).  The two I have are
Sec 15 Row 18 Seats 1&2.

I meant season tix.  But would probably also try to get OU as well.  I
guess I'm wrestling with the idea of getting them in my name, but I know
the seat location would not be very good.  I really would like to have 4
season ticket seats together.  I have been getting these through you for 6
years now and don't have a problem with just continuing this arrangement.
I also wouldn't be opposed to helping with the contribution to the
Foundation if you think it would help.  Let me know.

DG

    -----Original Message-----
   From:   <david.plaisance@us.pwcglobal.com>@ENRON

[mailto:IMCEANOTES-+3Cdavid+2Eplaisance+40us+2Epwcglobal+2Ecom+3E+40ENRON@ENRON.com]

   Sent:   Monday, August 27, 2001 2:24 PM
   To:     Giron, Darron C.
   Subject:  RE: Season tix are in

   Darron - sorry - My hard drive crashed two weeks ago and I lost my
   records
   of who did what and how much.  Good news is I should get my restoration
   back this week.  Tell me what your OU seats were so I can pair them with
   seats close by, or exchange them for four together.

   I vaguely remember us talking about OU.  Do you remember how much you
   paid
   me?

   When you say two additional tix for next season, do you mean season and
   OU
   or just one or the other?  The only way you can get more OU seats than
   your
   season tix is if someone else in the group doesn't want to buy OU tix
   with
   their season tix.

   I'm glad they arrived so quickly.

   We'll get it worked out

   d

   Darron.C.Giron@enron.com on 08/27/2001 12:38:47 PM

   To:   David Plaisance/US/FAS/PwC@FAS
   cc:
   Subject:  RE: Season tix are in

   I just got the tickets.  Thanks for sending them.  I paid for 4 OU
   tickets,
   could you only get me 2?  Let me know.  I also wanted to ask you about
   the
   possibility of getting 2 additional tickets for next season.  I know you
   get quite a few each year, but don't know if you have extras available.
   Thanks again.

   DG

       -----Original Message-----
      From:   <david.plaisance@us.pwcglobal.com>@ENRON

[mailto:IMCEANOTES-+3Cdavid+2Eplaisance+40us+2Epwcglobal+2Ecom+3E+40ENRON@ENRON.com]

      Sent:   Wednesday, August 22, 2001 11:37 AM
      To:     Giron, Darron C.
      Subject:  RE: Season tix are in

      OU tix are in!

      We'll work out leaving the tix for you under the mat, unless you'd
   like
      me
      to fedex them to you.  Let me know

      d

      Darron.C.Giron@enron.com on 08/22/2001 10:42:07 AM

      To:   David Plaisance/US/FAS/PwC@FAS
      cc:
      Subject:  RE: Season tix are in

      It looks like we won't make it to Austin before the 1st.  I'll
   probably
      just ask you to leave the tix under your front door matt on the day
   of
      the
      NMSU game and we will stop by to pick them up.  I will verify this
   with
      you
      next week.  I can't believe the season is already upon us.  Any word
   on
      OU?

      Thanks
      DG

          -----Original Message-----
         From:   <david.plaisance@us.pwcglobal.com>@ENRON

[mailto:IMCEANOTES-+3Cdavid+2Eplaisance+40us+2Epwcglobal+2Ecom+3E+40ENRON@ENRON.com]

         Sent:   Monday, July 23, 2001 9:47 AM
         To:     Giron, Darron C.
         Subject:  RE: Season tix are in

         Sorry I misspelled your name again.  Just let me know when.
   They'll
      be
         here

         d

         Darron.C.Giron@enron.com on 07/23/2001 09:37:06 AM

         To:   David Plaisance/FAS/Price Waterhouse@FAS
         cc:
         Subject:  RE: Season tix are in

         I may be in Austin later this summer.  I'm in no hurry to get the
         tickets.
         If you will, please hang on to them and I'll advise at a later
   date.
         Thanks.

         DG

             -----Original Message-----
            From:   <david.plaisance@us.pwcglobal.com>@ENRON

[mailto:IMCEANOTES-+3Cdavid+2Eplaisance+40us+2Epwcglobal+2Ecom+3E+40ENRON@ENRON.com]

            Sent:   Sunday, July 22, 2001 3:17 PM
            To:     dgiron@enron.com
            Subject:  Season tix are in

            Darin - The season tickets are in; OU tickets will be mailed
      later.
         How
            do
            you want to pick them up?  Any plans to be in Austin, soon?

            Regards

            David

            512-278-1716 (o)
            512-272-5009 (h)

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

         ----------------------------------------------------------------
         The information transmitted is intended only for the person or
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      to
         which it is addressed and may contain confidential and/or
   privileged
         material.  Any review, retransmission, dissemination or other use
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      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.

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

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

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

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

----------------------------------------------------------------
The 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.


Earlier today, Steve Cooper left the following voicemail for employees. Since some employees do not have access to voicemail, we are providing the following transcript of that message.

------------------------------------------------------
Voicemail Transcript - Steve Cooper
February 14, 2002

Hi everybody, this is Steve Cooper.  It is February 14, so Happy Valentine's Day to everybody. I just wanted to bring everybody up to speed on a number of items - I want to make sure that I keep you all in the loop so everyone has a pretty good sense of what's going on.

First of all, I want to thank a number of you for some very nice voice mails or emails.  They've been very supportive and I thank you for that.  I do intend to get back to everybody personally -- I've just been busy and jammed up this week, but I do want you to know I really appreciate it.  It's been a little hectic this week, so I do apologize for the delay in getting back to you.

Anyway, a couple of things have happened this week and I just want to make sure everybody understands what they are.  Number one is the result of the special investigative report.  We're beginning to reshape the senior management team and as a result Rick Buy and Rick Causey's employment with the company has been terminated.  To the extent that there are any additional changes, obviously I'll keep you up to speed.

We're also in the process of shrinking and reconstituting the Board.  Six directors resigned earlier this week and their resignation is effective in 30 days.  We're initiating a fairly aggressive search for some new directors, which will continue to replace some existing directors and at the end of the day the board will be reconstituted.

At the Board meeting this week, I reiterated that it's my intent in working with all of you to present some restructuring proposals to the creditor's committee by the second quarter, and nothing that I see today leads me conclude that we can't make that schedule.  I continue to believe that there is a very nice re-organizable platform here, so that the company can move forward.

There was some bad news with respect to Enron stock.  As far as I can tell, the claims base here - that is bank debt, bond holder debt and other unsecured creditors debt - is going to overwhelm the reorganized value of whatever platform that we move forward.  As a result, it's not probable that there will any residual value for existing shareholders.  That's not good news.  It's an unfortunate result of this problem, and I wish it was different.  But I don't want you to be misled and I don't want any of you to believe that there is value there, because I don't think there will be.  In particular I don't want you to continue to invest your earnings in Enron stock without being aware of, at least in my view, shareholder value at the end of the day.

The media sometimes interprets the elimination of existing shareholder value as a sign that this is going to be a liquidation.  I don't believe that will be the case here.  I think we have a tough road to hoe.  I think that it is going to require us to rebuild credibility in this company and its management team.  None the less, I do believe that we are going to have a reorganization here, and I'm absolutely committed and dedicated to making that happen.

A couple of other things that I want you to be aware of:  as soon as the dust settles around the reformation of the management team, we will get out a memo as to who the new management team will be and what their roles, responsibilities are.

We are continuing to shape and push forward with the creditors committee a retention and severance program, which I know is important to all of you.  As that gets cemented, I will provide you with additional updates.

And another thing, I've asked a number of our colleagues to plan in early to mid-March, an employee meeting at one of these local hotels.  It will, more likely than not, be in the evening and it can go as late as you want it to go.  What I thought we would do is give everybody, in a plain vanilla way, a short presentation as to where we are going and how we intend to get there.  Then we will have a giant question and answer session, so that if any of you have concerns, issues, problems, or upsets, we can get it all out on the table and figure out collectively the best way to deal with these things.

That's where we stand as of Valentine's Day.  Once again, I would like to thank all of those of you who have given me some real nice emails and voicemails for your support. Again, I apologize that I haven't been able to get back to you as quickly as I would like, but I promise you I will and I hope everybody has a great day.

If you have any questions or issues, send me an email, give me a buzz or drop by my office.  I would be more than happy to have a chat with you.  Happy Valentine's Day.  Thanks again so much and I'll give you the next update as soon as practicably possible.


The last one wasn't readible apparently.

Sue Mara
Enron Corp.
Tel: (415) 782-7802
Fax:(415) 782-7854
----- Forwarded by Susan J Mara/NA/Enron on 03/01/2001 10:10 AM -----

	"susan mara" <smara@enron.com>
	Sent by: <nobody@sfgate.com>
	03/01/2001 10:08 AM

		 To: "susan mara" <smara@enron.com>
		 cc:
		 Subject: SF Gate: Energy Experts Belie Davis' Rosy Prediction/Summer
expected to be crunch time

----------------------------------------------------------------------
This article was sent to you by someone who found it on SF Gate.
The original article can be found on SFGate.com here:
http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2001/02/28/M
N195654.DTL
----------------------------------------------------------------------
Wednesday, February 28, 2001 (SF Chronicle)
Energy Experts Belie Davis' Rosy Prediction/Summer expected to be crunch time
Greg Lucas, Sacramento Bureau
Chief

   Sacramento -- Gov. Gray Davis' optimistic assessment that California may
be on the "back side" of its energy crisis flies in the face of what many
energy companies and other experts predict.
   California's real test will come this summer when electricity usage
sharply increases, and unless everything breaks the way Davis hopes,
predictions are that large chunks of the state will be in the dark.
   "We're not on the back side of this crisis. This problem is far, far
bigger than the governor is suggesting," said Gary Ackerman, executive
director for the Western Power Trading Forum in Menlo Park.
   "To characterize the problem that way shows a recklessness that feeds on
the popular notion we don't have an energy crisis. We do. We have a very
serious one that's going to hit us as temperatures and loads go up,"
Ackerman said.
   The Democratic governor's comments were made Monday in Washington, D.C.,
during an East Coast visit aimed at getting Washington and Wall Street
support for his energy plan.
   He admitted more hard work is needed, but said the state is on the "back
side of the crisis" because lawmakers have passed bills needed to help
lower electricity prices.
   "Does that mean we're home free?" Davis asked yesterday. "No."
   But he again repeated that the state is on the back side of the crisis.
   That is contrary to predictions by the Independent System Operator, which
oversees the state's power market.
   On any given day in June, the ISO estimates, the state will fall 6,815
megawatts short of demand. That would put nearly 7 million homes in the
dark, if it happens.
   In July, the expected shortage is 4,685 megawatts. In August, it's 5,297
megawatts. That's if California has a normal summer. If it's hotter than
normal, the shortage grows.
   The ISO's estimates tend to be conservative and do not include Davis'
conservation goal.
   But even if a 10 percent reduction were achieved in June that would save
roughly 5,000 megawatts, the state would still be short 1,800 megawatts.
   And there are other variables.
   Depending on the snowpack and reservoir levels, hydroelectric plants may
not be able to run at full bore, which would also worsen the situation.
   "That is something the governor cannot spin his way out of," said Sen. Tom
McClintock, R-Northridge.
   Davis said a combination of new power plants and energy conservation will
help the state get through this summer.
   The clock is running. The ISO predicts shortages of 3,030 megawatts in May
- - just two months away.
   "The real electricity crisis is going to be this summer, and I don't think
we've made enough progress there," said Severin Borenstein, director of
the University of California Energy Institute.
   California won't be able to build its way out of the energy crisis by
quickly approving and building new power plants, Borenstein said.
   The ISO's demand estimates already factor in the new power plants set to
come online this summer.
   "Unless we have a very mild summer and have lots of rainfall between then
and now," Borenstein said, "we are going to face some serious shortages."
   Like Davis, Borenstein says California needs to do more to conserve
energy. Unlike Davis, he favors raising prices on big power consumers to
give them an incentive to cut back.
   But the Democratic governor may be sending Californians a mixed message.
   By telling them the worst is over, he could undercut his plan by making
people believe more conservation is unnecessary.
   Excluding what lies ahead, there are also plenty of energy issues left
unresolved right now.
   Although Davis has reached a tentative deal with Southern California
Edison on purchasing its share of the state's transmission system for $2.7
billion -- no such deal exists with either Pacific Gas & Electric or San
Diego Gas & Electric.
   Some alternative energy producers, like co-generation plants, are shutting
down because the cash-poor utilities haven't paid them for several months.
No cash means no fuel to run the turbines that make the juice.
   Generators like Duke Energy and Reliant Energy aren't convinced the crisis
has passed.
   For starters, both companies are owed in excess of $700 million for
electricity bought by PG&E and Edison but never paid for.
   "There are a lot of issues still out there such as how much power your
state will require this summer, whether there is enough generation on the
ground or available commercially to handle the load if there is a
significant spike in demand," said Richard Wheatley, a Reliant spokesman.
   Harvey Rosenfield, head of the Foundation for Taxpayer and Consumer
Rights, has a slightly different take on whether the worst is over.
   "We've said all along it's a crisis inspired by the greed of the utilities
and the energy companies," Rosenfield said.
   "Now that taxpayers are paying $1 billion every three weeks to buy
electricity and the ratepayers are going to pay between $13 billion and
$20 billion, the companies are happy and the crisis is over. What more
could they want?"
   E-mail Greg Lucas at glucas@sfchronicle.com.
----------------------------------------------------------------------
Copyright 2001 SF Chronicle


get me everyone's extentions so I can phone each tt person.

 -----Original Message-----
From: 	Buckley, Karen
Sent:	Tuesday, November 13, 2001 5:22 PM
To:	Allen, Phillip K.; Arnold, John; Bentley, Corry; Black, Don; Davis, Mark Dana; Gaskill, Chris; Gossett, Jeffrey C.; Grigsby, Mike; Herndon, Rogers; Martin, Thomas A.; Meyn, Jim; McMichael Jr., Ed; Mrha, Jean; Neal, Scott; Presto, Kevin M.; Schwieger, Jim; Shively, Hunter S.; Sturm, Fletcher J.; Superty, Robert; Will, Lloyd
Cc:	Lavorato, John
Subject:	Trading Track - New participants (rotations assgined)

 << File: Trading Track  Rotations November 9th.xls >>

All,

The attached spreadsheet outlines the rotations for the internal new hires to the Trading Track.    I will be meeting with the new TT A&A tomorrow, and subject to them signing all associated documentation, they will join the Track immediately.

Let me know if you have any questions with respect to the rotations outlined and we can make the appropriate changes as we move forward.

Thanks,

Karen B.
x54667


FYI.  IF you are needing to load our gas daily/intramonth curves - the instruction are on my desk on the tower under my monitors.  Melissa will be out next Thursday and Friday(so will I) so the designated representative for the east desk those days will have to load them.  Thanks.
PL

-----Original Message-----
From: Rabon, Chance
Sent: Wednesday, December 19, 2001 2:42 PM
To: Love, Phillip M.
Subject: east curves

Greg@apbenergy will email me the bid offer sheets.  the password to my cpu is chanc5rabon.

paths to curves:

NYmarket - must be done first, other book listens to it.  the bid offer sheet applies to this sheet only.  hardcote the avg of the bid offer, then highlight publish tab and save all to database. the path is o/tds/tds curve/dec01/nymarket121?.  open last day and save as today before altering.

NY - path is o/tds/tds curve/tds-ny 121?. open last day and save as today, then highlight dec out and save to database

southeast - o/tds/tds curve/southeast/051401.  only open, highlight dec out and save to database

gdi east - o/tds/tds curve/east-gdi-east.  only open, highlight dec out and save to database

-----Original Message-----
From: Greg Holtgrave [mailto:greg@apbenergy.com]
Sent: Wednesday, December 19, 2001 12:58 PM
To: Rabon, Chance; Mckay, Jonathan
Subject: 12/18/01 enequotes.xls


http://abclocal.go.com/ktrk/news/32402_news_fatalax.html

Just wanted to share this.  You may have seen it on the news last night.  My
friend Amy's daughter Hannah was killed Saturday night and the driver that
caused the accident didn't bother to stop.  Not that any of you drive a gold
Monte Carlo, but you never know...Please add Amy, her husband Devin, son
Austin and there beloved Hannah to your prayers.

Ashley


- 10_18_01LO.xls
 - 10_18_01GO.xls
 - 10_18_01OH.xls


Becky,

The charges to Corp. go to RAC and are based on my projections of expected
expenses.

The charges are based on the following assumptions (percentages in the
parenthesis show
amount of time allocated by each person (group)) to RAC:

1. Value-at-Risk Group (VaR)

MD (25%)
VP (60%)
Director (100%)
5 managers (100%)

2. Enterprise wide risk management

Manager (100%)
Associate (100%)

Currently we hired (or will shortly hire)  4 managers for the VaR group. The
expansion of the VaR
group was planned based on the requests from RAC for more support.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 12/19/2000
01:52 PM ---------------------------

Shirley Crenshaw
12/19/2000 11:30 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Re: 2001 PRELIMINARY I/C billing

---------------------- Forwarded by Shirley Crenshaw/HOU/ECT on 12/19/2000
11:25 AM ---------------------------

Becky Pham
12/19/2000 11:13 AM
To: Shirley Crenshaw/HOU/ECT@ECT
cc:
Subject: Re: 2001 PRELIMINARY I/C billing

Madam,

 I have a meeting with Corp tomorrow in reference to the intercompany billing
to Corp.  They are concerned about Research allocation.  I need some back up
to this billing.  Can you help me?  Can I get it by the end of the day to
have it reviewed and ready for tomorrow?  Please let me know....  Thanx
---------------------- Forwarded by Becky Pham/HOU/ECT on 12/19/2000 11:08 AM
---------------------------

Stephen Schwarzbach@ENRON
12/18/2000 08:55 AM
To: Becky Pham/HOU/ECT@ECT
cc:
Subject: Re: 2001 PRELIMINARY I/C billing

Becky,
I am discussing these allocations with the appropriate groups within
Corporate, as they will be the ones accepting/rejecting these charges.  I am
forwarding this to the appropriate individuals within the Corp. departments
for their review.  So, do not consider Corp as "in agreement" until you hear
back from me.  I also reviewed what we are receiving in 2000 and I have a few
questions relating to both 2000 and 2001:

1. What is ESource?
2. What is ENA Ops Direct?
3. What is ENA OCC Direct?
4. What is ENA CO 021?  Is this Vince Kaminsky's group?  The charges for 2000
have been about $16k and $20k to the RAC group, so at that rate, I would
expect 2001 to be no more than $250k-$300k, but the plan amount you sent is
$1.9MM.  I will need some detail on this.

Thanks,
Steve

Becky Pham@ECT
12/14/2000 05:15 PM
To: Stephen Schwarzbach/Corp/Enron@Enron, Regina Hawley/GPGFIN/Enron@ENRON
cc:

Subject: 2001 PRELIMINARY I/C billing

Attached is the 2001 PRELIMINARY inter-company billing.  ENA will be billing
plan numbers for all departments except for External Legal and External Tax,
which will be billed base on actual.  A quarterly review will be done to
determine the variance between plan vs. actual amounts.  If the variance
amount is material, we will adjust the billing to your Business Unit
accordingly.

If you have any questions, call me at 5-7094.  Please review this billing,
and notify me with any questions by Wednesday, December 20, 2000; otherwise,
it is assumed that you agree to the intercompany billing from ENA.

You are the only person in your Business Unit receiving this invoice.  If
this invoice needs to go to someone else in your business unit,  please
forward to the correct person and can I be included in the forward e-mail?


Here is a list of point people for issues in the West.

Jim


---------------------- Forwarded by Kay Mann/Corp/Enron on 04/02/2001 10:11
AM ---------------------------
From: Catherine Clark/ENRON@enronXgate on 04/02/2001 10:10 AM
To: Kay Mann/Corp/Enron@Enron, Lisa Bills/ENRON@enronXgate
cc:

Subject: RE: Blacklined Draft from Last Night's version

The amount in 9(a)(xviii) should be $47,404,200 per the total contract amount
($63,205,600) and payment schedule (75% of payments still due after 4/30/01)
mentioned in the DASH.

 -----Original Message-----
From:  Bills, Lisa
Sent: Saturday, March 31, 2001 3:12 PM
To: Mann, Kay; Clark, Catherine
Subject: FW: Blacklined Draft from Last Night's version

Kay and Catherine,  several comments jumped out from my quick review of the
below for each of you.

Catherine and Kay:  What is the ENA Demand Note amount in 2(a) supposed to
represent vs the Purchase Price in 2(d)?  Are the amounts correct?

Catherine:  Please confirm number in 9(a)(xviii).

Kay:  There seems to be a timing problem with several of ENA's reps in 9(a).
Several state that the LLC has not engaged in any work/liabilities type stuff
other than the Transaction which includes execution of the Turbine Contract.
The Turbine Contract is an exhibit.  I assume it is the current contract
which has been executed, through assignment, by E-Next Generation LLC. In
9(a)(xvi), we say that we will have essentially "ownership" of the Turbine
Contract "at closing".  This seems to also contradict the earlier reps on our
execution of the Turbine Contract.  How could we make the first reps when our
LLC didn't execute the Turbine Contract?

Thanks, Lisa

 -----Original Message-----
From:  Mann, Kay
Sent: Friday, March  30, 2001 11:46 AM
To: Manis, Herman; Clark, Catherine; Bills, Lisa; Schneider, Chip
Subject: Blacklined Draft from Last Night's version

fyi
---------------------- Forwarded by Kay Mann/Corp/Enron on 03/30/2001 11:45
AM ---------------------------

 << OLE Object: Picture (Device Independent Bitmap) >>
"Campbell, Carolyn" <CCampbell@KSLAW.com> on 03/30/2001 11:14:45 AM
To: "'kay.mann@enron.com'" <kay.mann@enron.com>
cc: "Keffer, John" <JKeffer@KSLAW.com>

Subject: Blacklined Draft from Last Night's version

 <<2XFLRED.DOC>>

Kay:

Enclosed for convenience is a blacklined draft from last night's version.
Thanks.

Carolyn

Enclosure: 136641vR7/6

                    Confidentiality Notice
This message is being sent by or on behalf of a lawyer.  It is intended
exclusively for the individual or entity to which it is addressed.  This
communication may contain information that is proprietary, privileged or
confidential or otherwise legally exempt from disclosure.  If you are not the
named addressee, you are not authorized to read, print, retain, copy or
disseminate this message or any part of it.  If you have received this
message in error, please notify the sender immediately by e-mail and delete
all copies of the message.

 - 2XFLRED.DOC << File: 2XFLRED.DOC >>


Thanks for doing this.  I plan to come to London once a quarter.  I will have
to choose my dates well in advance since these flights seem to be so full!
--Sally

	Enron North America Corp.

	From:  Patti Thompson                           01/16/2001 11:30 AM

To: Sally Beck/HOU/ECT@ECT
cc:
Subject: Re: Airline seats

Done.  New seat number:  10A

PT

	Enron North America Corp.

	From:  Sally Beck                           01/16/2001 11:30 AM

To: Patti Thompson/HOU/ECT@ECT
cc:
Subject: Re: Airline seats

Let's try the last row window seat.  Thanks.

	Enron North America Corp.

	From:  Patti Thompson                           01/16/2001 10:47 AM

To: Sally Beck/HOU/ECT@ECT
cc:
Subject: Airline seats

Sally,

Per Catherine at Travel Agency in the Park, bulkhead seats were all that were
available when she booked flight 3 or 4 weeks ago.  Says those particular
flights have gotten quite popular lately.  Only other option for return:

Same isle (E)
 - Row 8 (also bulkhead, but maybe not as noisy)
 - Last row window seat (doesn't recline as much as other seats)

If you like either of these better that existing seat, let me know & I change
it.

PT


I am pleased to announce that yesterday (May 3) we closed the sale of the Wheatland, Gleason and Lincoln peaker plants to Allegheny. The completion of this LONG transaction was truly a team effort!  We are currently planning a closing celebration, and I will follow up with the details.

Thanks again for everyone's contribution.

(Sorry for the day delay in the announcement but as you know Outlook was down yesterday)


We liked Alton.   He was a very hard worker.   We ranked him 2 or 3.

 -----Original Message-----
From: 	Herndon, Rogers
Sent:	Tuesday, August 14, 2001 4:48 PM
To:	Will, Lloyd; Presto, Kevin M.; Misra, Narsimha
Subject:	Alton Jackson

Do any of you guys have any feedback on Alton from his days at EPMI?  He is in exodus from EBS and came and talked to me. The only thing I may have for now is a deal entry position in the risk group.

RH


Glossary of new stock market terms & definitions:

Momentum  Investing - The fine art of buying high and selling low.

Value Investing - The art of buying low and selling lower.

Broker - Poorer than you were in 1999.

P/E ratio - The percentage of investors wetting their pants as this market
keeps crashing.

"Buy, Buy" - A flight attendant making market recommendations as you step off
the plane.

Standard & Poor - Your life in a nut  shell.

Stock Analyst - Idiot who just downgraded your stock.

Bull Market -  A random market movement causing an investor to mistake
himself for a financial genius.

Bear Market - A 6 to 18 month period when the kids get no allowance, the
wife?gets no jewelry and the husband gets no  sex.

Stock Split - When your ex-wife and her lawyer split all your assets equally
between themselves.

Financial Planner - A guy who actually remembers his wallet when he runs to
the 7-11 for toilet paper and cigarettes.

Market Correction - The day after you buy stocks.

Cash Flow - The movement your money makes as it disappears down the toilet.

Call Option - Something people used to do with a telephone in ancient times
before e-mail.

Day Trader - Someone who is disloyal from 9-5.

Microsoft - A condition temporarily remedied by Viagra.

Cisco - Side kick of Poncho.

Yahoo - What you yell after selling it to some poor sucker for $540 per share.

Windows 2000 - What you jump out of when you're the sucker that bought Yahoo
for $540 per share.

Institutional Investor - Past year investor who's now locked up in a nut
house.

Profit - Religious guy who talks to God.

Bill Gates - Where God goes for a loan.

Alan Greenspan - God.
?
?


Yes we did.  We had a great time.  I heard Christine is pregnant again.  How
are you doing?  After a week off, I realize how much work sucks!

DG

Kim.Mayers@mail.sprint.com on 03/19/2001 09:07:06 AM
To: Darron.C.Giron@enron.com
cc:
Subject: RE: Sean

Hello,
It sounds like you got hooked up with Sean.  I went to Dallas on Friday
and just got your message.  How was Colorado?

Kim Mayers
Product Manager
Sprint Broadband Wireless Group
Phone: (913) 315-9132
PCS: (913) 269-8197
Fax: (913) 315-0760
kim.mayers@mail.sprint.com

-----Original Message-----
From: Darron.C.Giron [mailto:Darron.C.Giron@enron.com]
Sent: Friday, March 09, 2001 2:08 PM
To: Darron.C.Giron; kim.mayers
Subject: Sean

Hey,

How goes it?  I need your brother's phone numbers.  I am staying with
him
tomorrow night, but don't have directions.  We have only been
communicating
via email.  I hope you get this today.  Thanks.

DG


Phone service has been restored.

----- Original Message -----
From: GRS/FERCwatch <mailto:grs4ferc@starpower.net>
Sent: Monday, November 19, 2001 9:46 AM
Subject: GRS/FERCwatch - Telephones

GADSDEN RESEARCH SERVICES'
FERCwatch
November 19, 2001

GRS' mobile phones are out of service temporarily -- service should be restored later this morning.  Please forward all requests by e-mail to grs4ferc@starpower.net <mailto:grs4ferc@starpower.net>  or fax to 202-318-4524 until further notice -- both will be checked frequently.  We apologize for the inconvenience.  Thank you.

Rudy Gadsden
GRS/FERCwatch


The latest release has arrived!

A new release of e-Request (the web based network access system) is being
launched September 11, 2000.  It is guaranteed to enhance the way you access
Enron Net Works supported resources such as: applications, conference room
administration, data directories, and restricted printers.  Added benefits
include:

ability to provide direct feedback to the e-Request team
new regional specific application lists
ability to request creation of new, secured directories
faster, more efficient navigation
more attractive, cleaner interface
accessible history of resources
more details listed on pending and closed requests
logon is more reliable

The current release is available at http://itcentral.enron.com.  To learn
more about e-Request, attend one of our premier brown bag sessions.  RSVP by
contacting Kim Lerro at extension. 3-4224.  Seating is limited, so call now
to reserve your seat!

Brown Bag Schedule (One Hour Sessions)

Monday August 28th
8:30  AM EB0560
10:00  AM EB0560
11:30  AM EB0560
2:00  PM EB22C1
3:30  PM EB22C1

Thursday August 31st
3:30 PM EB22C1

Friday September 1st
8:30 AM EB22C1
2:00 PM EB22C1
3:30 PM EB22C1

Wednesday September 6th
3:30 PM EB22C1

Thursday September 7th
8:00 AM EB22C1

Friday September 8th
9:00 AM EB22C1


eSource presents SDC Platinum training

SDC Platinum offers detailed transactional information on New Issues, Mergers
& Acquisitions, Syndicated Loans, Private Equity, Strategic Alliances,
Project Finance and others.  The product is designed to allow users to
compare transactions, evaluate advisors, and analyze market and industry
trends.

Training Agenda Includes:
? General Introduction.
? Basic query techniques for new issues and M&A databases.
? Basic query techniques for trend analysis.

Attend our SDC Platinum Clinic:

May 30     9:00 -11:30 AM   EB552

Seats fill up fast! To reserve a seat, please call Stephanie E. Taylor at
5-7928
Check the eSource training page at http://esource.enron.com/training.doc for
additional training sessions and vendor presentations.

http://esource.enron.com


Sara,
hi there !!
greetings from rainy and cold London, where people are still wearing wool
turtlenecks at the middle of may.
question for ya.   $ repo wiht Goldman Sachs,  can we do it???
thanks
derek


Here are the names of two entities and the people that are selling us gas on a pre-pay basis.  Oxy is also selling, but I do not have the contact.  I would start with Mike Soland.

 -----Original Message-----
From: 	Vanderhorst, Barry
Sent:	Tuesday, January 15, 2002 9:09 AM
To:	McMichael Jr., Ed
Subject:	EES Counterparties

Ed:
The following entities are selling gas to EES:

Marathon
Paul Cox	502.964.9888

TXU
Larry Jauregui	214.875.9810

I have paged Chris to find West contacts for PGE and Occidental.
Thanks
BV
3-3317

Barend VanderHorst
713.853.3317
EB1459a


I have retrieved Carol's EOL Mexico file but Mark tells me that he did some
follow up work with Mexican counsel and that you may have the results of
that.  Do you have anything?
Thanks,
Brent
----- Forwarded by Brent Hendry/NA/Enron on 10/31/2000 11:03 AM -----

	Phillippa Daniel
	10/31/2000 10:32 AM

		 To: Mark Taylor/HOU/ECT@ECT, Brent Hendry/NA/Enron@Enron
		 cc: Justin Boyd/LON/ECT@ECT, Enron London - EOL Product Control
Group/LON/ECT@ECT
		 Subject: New Enrononline Counterparties: Servicios Indusriales
Penoles/Terrapin Recycling LLC

Justin has never dealt with a Mexican company for Enrononline therefore could
you please give us  some advice on due dilligence done in Mexico. Justin
needs to review this client for metals.  Thank you.

Regards

Philippa Daniel

---------------------- Forwarded by Phillippa Daniel/EU/Enron on 31/10/2000
16:23 ---------------------------

Phillippa Daniel
30/10/2000 18:46
To: Justin Boyd/LON/ECT@ECT, Paul Maley/LON/ECT@ECT, ECT London Credit
cc: Enron London - EOL Product Control Group/LON/ECT@ECT, Hamish M
Scutt/EU/Enron@Enron, Alan Jamieson/EU/Enron@Enron, Diana
Higgins/LON/ECT@ECT, Lindsay F Edmonds/EU/Enron@Enron, Enron Europe Global
CounterParty, Enron Europe Global Contracts and Facilities

Subject: New Enrononline Counterparties: Servicios Indusriales
Penoles/Terrapin Recycling LLC

Please can you review SERVICIOS INDUSTRIALES PENOLES/TERRAPIN RECYCLING LLC
Enrononline in the S.drive access data base. Please let me know by returning
me an E-mail once this has been done.

Please note that the address in Global Counterparty for Servicios
Industriales Penoles is incorrect CP ID 85744. The address should read as
follows:

Servicios Industriales Penoles, S.A. De C.V
Moliere No. 222, 2nd Piso
Col. Polanco
Deleg Miguel Hidalgo
11540 Mexico DF
Mexico

Please note that the company name needs to be changed from Industrales to
Industriales.

Regards

Philippa

---------------------- Forwarded by Phillippa Daniel/EU/Enron on 30/10/2000
18:33 ---------------------------

London Fax System
30/10/2000 16:57
To: Enron London - EOL Product Control Group/LON/ECT@ECT
cc:

Subject: New fax received (Likely sender: 212 715 2360).

You have received a new fax from 212 715 2360

The image contains 5 page(s).


Mark has some editorial changes to the letter if there is still time
----- Forwarded by Steven J Kean/NA/Enron on 10/04/2000 03:41 PM -----

	Mark.Schroeder@enron.com
	10/04/2000 10:39 AM

		 To: Steven.J.Kean@enron.com
		 cc:
		 Subject: Re:

Two suggestions:  I think the word "forgoing" should be "foregoing", and I
do not see the need for us to say what the Chinese Government decided, as
opposed to saying: "Subsequently, we understand the Chinese Government
decided . . . "   mcs

From: Steven J Kean@ENRON on 04/10/2000 10:30

Sent by:  Steven J Kean@ENRON

To:   Mark Schroeder/LON/ECT@ECT, Kelly Kimberly/Enron Communications@Enron
      Communications, Michael Terraso/OTS/Enron@ENRON
cc:

Subject:

FYI
----- Forwarded by Steven J Kean/NA/Enron on 10/04/2000 10:29 AM -----

                    John
                    Ambler@ENRON_D        To:     Rosalee Fleming@ENRON
                    EVELOPMENT            cc:     Steven J
Kean/NA/Enron@Enron, Mark
                                          Palmer@ENRON, Kelly Kimberly@Enron
                    10/03/2000            Communications, Lauren Goldblatt@ECT
                    03:26 PM              Subject:

Rosie,

On September 25, 2000 the Tibetan Government-in-exile wrote Dr. Lay at the
Beijing office address requesting that Enron cancel its participation in
the Sebei-Lanzhou pipeline.   We faxed a copy of this communication to you
a few minutes ago.  We have drafted the attached proposed response.
Rebecca McDonald concurs with the approach in this letter, which has been
reviewed by the addressees of this message.  Your assistance in
appropriately formatting and printing the letter for signature would be
appreciated.  Please let me know if you have any questions or need
assistance.

Thanks,

John

(See attached file: Tibet Letter from Ken Lay  092800.doc)

 - Tibet Letter from Ken Lay  092800.doc


Good morning Mr. Skilling.

When I arrive at work today the only e-mail I had was the EES Distribution, and my first though
was great my day is going to go well. When I open and realised it was an opportunity to ask you a
question, I though long and hard about it. The reasons being is that most of the little people in a company
of this size never really get their voices heard on any issue,  and being a contractor make it even harder
so why would this be any different. Another concern was,  will a person like yourself really have time in your
busy schedule to read and answer every e-mail, phone call all or written correspondence he receives from an employee.
 But Mr Skilling I am taking the chance that you yourself  can hear this voice .

My question to you this morning is very important to me and I am quite sure to many others like myself.

I would like to know  why is it that Enron spend so much money, training and time on contractors like myself, only to turn around and hire someone
else to do the same job that the contractors are doing already. Wouldn't it be easier  and cheaper to offer the job to the contractor,
or just give them the opportunity to accept or decline the offer.?

Mr. Skilling I think that  Enron is a great company to work for because of all the information, that I have learned in my eight months of employment.
But like most company their is always room for improvements. Also Mr. Skilling this is not a pitch for employment, it just a question of concern.
Thank you for the opportunity to speak with you.

I wish that your day will be a great and less busy one. Have a great day.

Hope to hear from you soon.


Rod,
Caroline forwarded me your questions regarding the Risk System so I wanted to
go ahead and respond since Steve is out this week.

I don't think Philippe requires the level of due diligence that we performed,
but we were getting questioned on buying a 3rd party product vs. using an
Enron Risk System.  We did more research and got the other groups involved so
that they would understand our decision.  I believe everyone is now
comfortable with our purchase decision.

In our analysis of systems, we selected the Caminus product in part because
we had several individual references from Arthur Andersen, Deliotte &Touche
and Ernst & Young.  These organizations, especially Arthur Andersen, have
audited this application and have actually participated in numerous
implementations.  Ernst & Young recently selected Caminus for Equitable
Resources.   Arthur Anderson implemented the application for Conoco and 5 or
6 other companies, and Deloitte Touche recently selected the product for
Tractabel.  After talking with individuals from these accounting firms, we
felt very confident that the product was sound, and we should not have audit
concerns.  Obviously, we have a lot of business procedures that have to be
established, and there is time in the work plan to do that work, but a lot of
those decisions drive how the application is configured so we need to get the
product purchased work through the details of how we implement the new
business procedures since the system does drive a lot of processes.

Regarding costs, we have an approved work order for $650,000 which covers all
the initial hardware, software, implementation costs and first year
maintenance.  This cost does represent a very limited implementation with
only 10 concurrent users, no customization except a few reports, and no
electronic interfaces or data conversion.  The assumption is that initially
the volume would be so low that an automated interface may not be cost
justified, and the data would manually be loaded since it was low volume as
well.  The on-going costs are estimated at approximately $100,000/year.  We
did not perform a separate cost/benefit analysis as this was in the original
cost of the Revenue Management RAROC.  Let me know if you have any other
questions or there are open issues that we need to address prior to
completing the contract.  We are hoping to get this signed and the project
underway next week.  Thanks.


Start Date: 4/28/01; HourAhead hour: 9;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001042809.txt


We have received the executed Master Energy Purchase and Sale Agreement dated
11/21/00 from the referenced CP.  Copies will be distributed to Legal and
Credit.


Attached is Shelley Corman's response to Jeff Dasovich, based on
conversations with Drew and me.  Accordingly, I would advise you not to
participate in the conference call Jeff is setting up for tomorrow.

Questions -- give me a call.

---------------------- Forwarded by Susan Scott/ET&S/Enron on 01/04/2000
12:52 PM ---------------------------

Shelley Corman
01/04/2000 12:50 PM
To: Jeff Dasovich/SFO/EES@EES
cc: Susan Scott/ET&S/Enron@ENRON

Subject: Re: The El Paso Controversy Continues

Jeff,

From the pipeline group's perspective, this transaction is a commercial
matter between El Paso and ENA.  Accordingly, the gas pipeline group does not
believe that it is appropriate to participate in the development of ENA's
response.

I do understand that the referenced article and certain of the protests make
factual allegations about Transwestern's available capacity to California.
Susan Scott or I can certainly provide corrected information from
Transwestern's available capacity postings.

Jeff Dasovich @ EES on 01/04/2000 11:23:33 AM
To: Richard Shapiro/HOU/EES@EES, Paul Kaufman@EES, Julie A Gomez@ECT, Susan J
Mara/SFO/EES@EES, Mona L Petrochko/SFO/EES@EES, Sandra McCubbin/SFO/EES@EES,
Leslie Lawner/HOU/EES@EES, Margaret Carson/Corp/Enron@Enron, Chris H
Foster@ECT, Kevin Simmons@ECT, Dave Parquet@ENRON_DEVELOPMENT, Robert
Shiring/HOU/ECT@ECT, Joe Hartsoe/Corp/Enron@Enron, James D
Steffes/HOU/EES@EES, Harry Kingerski/HOU/EES@EES, Patrick Keene/HOU/EES@EES,
Rebecca W Cantrell@ECT, Kevin Hyatt@ECT, Susan Scott/ET&S/Enron@Enron,
Jeffery Fawcett/ET&S/Enron@Enron, Shelley Corman/ET&S/Enron@Enron
cc:

Subject: Re: The El Paso Controversy Continues

i would like to set up a conference call for tomorrow, jan. 5 at 3:30 CST to
discuss the ena/el paso deal.  please let me know if 1) you would like to be
on the call, and 2) you are available at that time.  thanks, jeff

Jeff Dasovich on 01/02/2000 07:19:57 PM
To: Richard Shapiro/HOU/EES@EES, Paul Kaufman@EES, Julie A Gomez@ECT, Susan J
Mara/SFO/EES@EES, Mona L Petrochko/SFO/EES@EES, Sandra McCubbin/SFO/EES@EES,
Leslie Lawner/HOU/EES@EES, Margaret Carson/Corp/Enron@Enron, Chris H
Foster@ECT, Kevin Simmons@ECT, Dave Parquet@ENRON_DEVELOPMENT, Robert
Shiring/HOU/ECT@ECT, Joe Hartsoe/Corp/Enron@Enron, James D
Steffes/HOU/EES@EES, Harry Kingerski/HOU/EES@EES, Patrick Keene/HOU/EES@EES
cc:
Subject: Re: The El Paso Controversy Continues

please read be story from trade press below.  i have not included et&s folks
on this note because i'm uncertain regarding the rules with respect to
communication among business units in these sorts of matters.  if it's
acceptable to include tw in the notes and in conversations, that would be my
preference.  rick, is it your view that tw can or cannot be included?

i believe i passed along word of the ena/el paso deal when it hit the press
week before last.  the press reported both the amount of capacity and the
price for which ena bought it from el paso.  to summarize:  ena purchased
1.25 bcf per day for one year starting jan 1, 2000.  ena paid $38 million,
which gives an average price of $.0831 per mmbtu.  (by contrast, williams
bought about 0.1 bcf/day at an average rate of $.207.)   el paso released
this information via a a press release without any prior approval from ena.
julie, please don't hesitate to fill any holes or (unintended) innaccuracies.

the situation is complicated by the fact that california is currently in the
midst of intense negotiations over restructuring the state's gas industry.
the negotiations have been going on for about 8 months and have been very
contentious.  socal has teamed with indicated producers, california
manufacturers association, and muni generators from southern california to
push a very "go slow" approach that is (surprise) quite friendly to larger
users.  enron is teamed with western hub storage, wild goose storage,
calpine, southern california edison, green mountain power, the city of
vernon, and spurr/remac (provides services to california's k-12 school
system) under an alliance called "california alliance for competition"
(snappy, i know).  the cac proposal is pushing, among other things, a single,
state-wide market for transport, storage and balancing, including tradeable
rights in a secondary market.

indicated producers has been aggressive and hostile toward marketers--as has
cma--throughout the negotiations.  ip's bile has not been reserved solely for
enron, however.  one outcome of the negotiations has been the suit ip
launched against el paso at ferc regarding el paso's nom process.  (i believe
ena filed in support of the suit.)  el paso is losing that one and will
likely change its nom process sooner rather than later.

i think it's important to have a quick call to develop a clear and consistent
message on the ena deal and coordinate what we're saying about that deal with
the other gas issues on the table.  i'm assuming that if there's anything we
can do to keep harvey morris (and california) from mucking up the deal, the
better.  i know harvey well.  i'm not sure, given his quotes, there's much
"educating" to be done, but may make sense to meet with him, nonetheless.
more important, indicated producers is the real--and biggest--problem.

let me know if you folks think there'd be value in briefly discussing the
issue.

best,
jeff

Kevin Hyatt@ENRON
12/30/99 10:51 AM
To: Jeff Dasovich/SFO/EES@EES, Joseph Alamo/SFO/EES@EES
cc:
Subject: The El Paso Controversy Continues

CPUC attorney Harvey Morris obviously has NO CLUE on how the transportation
business works.

---------------------- Forwarded by Kevin Hyatt/ET&S/Enron on 12/30/99 12:49
PM ---------------------------
ET & S Business Intelligence
From: Lorna Brennan on 12/30/99 09:18 AM
To: Bill Cordes/ET&S/Enron@ENRON, Julie McCoy/ET&S/Enron@ENRON, Lou
Geiler/ET&S/Enron@ENRON, Tim Aron/ET&S/Enron@ENRON, Steve
Klimesh/ET&S/Enron@ENRON, Sarabeth Smith/ET&S/Enron@ENRON, Gary
Sova/ET&S/Enron@ENRON, Rob Wilson/ET&S/Enron@ENRON, Lon
Stanton/ET&S/Enron@Enron, Margaret Carson/Corp/Enron@ENRON, Rita
Hartfield/Corp/Enron@ENRON, Rockey Storie/ET&S/Enron@ENRON, Stephanie
Miller/ET&S/Enron@ENRON, Kent Miller/ET&S/Enron@ENRON, John
Dushinske/ET&S/Enron@ENRON, Dave Neubauer/ET&S/Enron@ENRON, Michael
Bodnar/ET&S/Enron@ENRON, Joni Bollinger/ET&S/Enron@ENRON, David
Badura/ET&S/Enron@Enron, Janet Bowers/ET&S/Enron@ENRON, Craig
Buehler/ET&S/Enron@ENRON, Bob Burleson/ET&S/Enron@ENRON, Allen
Cohrs/ET&S/Enron@ENRON, John Fiscus/ET&S/Enron@ENRON, Bret
Fritch/ET&S/Enron@Enron, Steve Gilbert/ET&S/Enron@ENRON, Morgan
Gottsponer/ET&S/Enron@ENRON, Brenda Harris/ET&S/Enron@ENRON, James
Harvey/ET&S/Enron@ENRON, Stephen Herber/ET&S/Enron@ENRON, Dana
Jones/ET&S/Enron@ENRON, Jane Joyce/ET&S/Enron@ENRON, Stephanie
Korbelik/ET&S/Enron@ENRON, Therese Lohman/ET&S/Enron@ENRON, Bill
Mangels/ET&S/Enron@ENRON, Penny McCarran/ET&S/Enron@ENRON, Vernon
Mercaldo/ET&S/Enron@ENRON, Larry Pavlou/ET&S/Enron@ENRON, Eileen
Peebles/ET&S/Enron@ENRON, Maria Perales/ET&S/Enron@ENRON, Tony
Perry/ET&S/Enron@Enron, Loren Penkava/ET&S/Enron@ENRON, Ken
Powers/ET&S/Enron@ENRON, Joan Schwieger/ET&S/Enron@ENRON, Chris
Sebesta/ET&S/Enron@ENRON, Frank Semin/ET&S/Enron@Enron, Neal
Shaw/ET&S/Enron@ENRON, Larry Swett/ET&S/Enron@ENRON, Kay
Threet/ET&S/Enron@ENRON, Mike Ullom/ET&S/Enron@ENRON, Lisa
Valley/ET&S/Enron@Enron, Chuck Wilkinson/ET&S/Enron@ENRON, Jim
Wiltfong/ET&S/Enron@ENRON, Jo Williams/ET&S/Enron@ENRON, Karen
Lagerstrom/ET&S/Enron@Enron, Ray Stelly/ET&S/Enron@ENRON, Bob
Stevens/ET&S/Enron@Enron, Sue M Neville/ET&S/Enron@ENRON, Mike
Barry/ET&S/Enron@ENRON, Miriam Martinez/ET&S/Enron@ENRON, Martha
Janousek/ET&S/Enron@ENRON, Kimberly Watson/ET&S/Enron@ENRON, Don
Powell/ET&S/Enron@ENRON, Melinda Tosoni/ET&S/Enron@ENRON, Steve
Weller/ET&S/Enron@ENRON, Michael G Stage/ET&S/Enron@ENRON, Tim
Johanson/ET&S/Enron@ENRON, Mike McGowan/ET&S/Enron@ENRON, Steven
Harris/ET&S/Enron@ENRON, Lindy Donoho/ET&S/Enron@ENRON, Jeffery
Fawcett/ET&S/Enron@ENRON, Lorraine Lindberg/ET&S/Enron@ENRON, Kevin
Hyatt/ET&S/Enron@Enron, Christine Stokes/ET&S/Enron@ENRON, Drew
Fossum/ET&S/Enron@ENRON, Lee Huber/ET&S/Enron@ENRON, Maria
Pavlou/ET&S/Enron@ENRON, Mary Kay Miller/ET&S/Enron@ENRON, Glen
Hass/ET&S/Enron@ENRON, Donna Fulton/Corp/Enron@ENRON
cc:
Subject: The El Paso Controversy Continues

Enron-El Paso Deal Could Mute Competition to CA

     Fearing an end to pipeline competition in California, the state's
regulators and Indicated
     Shippers have called on FERC to summarily reject the three
transportation agreements by
     which Enron North America Corp. has contracted for 1.25 Bcf/d of
unsubscribed firm
     capacity on El Paso Natural Gas.

     Approval of these agreements would give Enron Corp., parent of
Transwestern Pipeline
     and Enron North America, control over all the available transportation
capacity to the
     southern California border, warned Harvey Morris, principal attorney for
the California
     Public Utilities Commission (CPUC), which plans to submit its protest
today. Between
     the two pipelines, he estimated Enron will control 2.34 Bcf/d of firm
capacity from the
     San Juan and Permian basins to California.

     For Morris, Enron North America's contracting of the El Paso capacity
represents a
     worse threat to the pipeline's other shippers than Dynegy Marketing and
Trade, who has
     held the capacity for past two years and whose contract expires Dec. 31.
"At least then
     there was some Transwestern competition to the Dynegy situation. Now
it's Enron, the
     owner of Transwestern, who's stepping into Dynegy's shoes."

     But "what's even worse," he told NGI, is the revenue-sharing provision
in the contracts. It
     stipulates that "after Enron makes $35 million off of these contracts,
it has to share the
     proceeds with El Paso for 25% of anything beyond $35 million. So
effectively, Enron and
     El Paso have become partners in how high they can jack up the
transportation rate
     differential between the California border and the Southwest producing
basins."

     The two pipeline companies "that have for decades competed with each
other in carrying
     Southwest supplies to California are now partners. We think that's
anticompetitive, and
     there's no way FERC should approve it," Morris said. He recalled the
basis differential
     between the San Juan Basin spot price and the California border shot up
by 17% during
     1998, the first year during which Dynegy controlled the El Paso capacity
into California.
     This situation could worsen under Enron, he believes.

     "At first blush the El Paso-Enron contracts [do] not appear to contain
the same
     anticompetitive features of the El Paso-Dynegy contracts," Indicated
Shippers noted, but
     a "closer review and analysis" reveals the anticompetitive effects of
the revenue-sharing
     provision (RSP) in El Paso-Enron contracts "are not only similar" to
those of the hotly
     contested reservation-reduction mechanism (RRM) in the El Paso-Dynegy
case, "but are
     increased......due to the fact that the contracts are with a marketing
affiliate of El Paso's
     primary interstate pipeline competitor," Transwestern.

     Both the RRM and RSP "operate to provide a disincentive for El Paso and
its competitors
     to compete against each other, or to take any other action that will act
to drive down the
     basis differential that defines the market value of the capacity,"
Indicated Shippers told
     FERC in a protest filed on Wednesday [RP97-287-041]. The group includes
producers
     Amoco Production, Burlington Resources Oil and Gas, Marathon Oil, and
Phillips
     Petroleum, and two marketers - Amoco Energy Trading and Phillips Gas
Marketing.

     FERC "should reject the tariff filing immediately. The Commission erred
in allowing the
     El Paso-Dynegy contracts to remain intact for their two-year term after
finding that the
     contracts were anticompetitive. This issue is pending in the [D.C. Court
of Appeals].
     That same error should not be repeated here," the producers and
marketers said.

     The CPUC's attempt to block the Enron-El Paso contracts at the outset is
a little bit
     unusual for the agency, Morris said, but it learned its lesson following
Dynegy. "When the
     Dynegy situation first hit, we asked for FERC to investigate the matter.
We thought
     FERC did a very inadequate job then.....This time around we're asking
for FERC to
     summarily reject it. It's hard for an agency like ours to take such a
strong stand right at
     the beginning, but we've learned too much from two years of suffering
under the Dynegy
     situation. And this is even worse."

     In the event the Commission should reject California's request, the CPUC
has asked that
     an "anti-hoarding condition" be included in the contracts, which would
require Enron to
     release unused capacity into the short-term market at a price higher
than what it's paying
     El Paso for the capacity. "They must make a little profit," Morris
noted. "We're confident
     Enron can't use the entire 1.2 Bcf/d of capacity.....so there's going to
be unused
     capacity."

     The agency also wants FERC to clarify that the primary delivery point
for the Block II
     portion of the capacity (579MMcf/d) is PG&E-Topock in keeping with the
terms of the
     1996 settlement between El Paso and its customers. Morris said he agreed
fully with
     Amoco, Burlington Resources and Southern California Gas (SoCalGas),
which accused
     El Paso of violating the 1996 agreement by allowing Dynegy to use
SoCalGas-Topock as
     a primary delivery point for the Block II capacity last summer. They
contend the alleged
     violation is included in the Enron contracts.

     He also noted the CPUC will challenge the ability of Enron to call back
Block II capacity
     after it already had been recalled by El Paso shippers to serve Pacific
Gas and Electric
     (PG&E) customers in northern California. Last July, FERC granted Dynegy
the right to
     do this under its contracts with El Paso. But Morris contends the
decision violates the
     1996 settlement under which PG&E paid $54 million to preserve the right
of the pipeline's
     shippers to recall the Block II capacity to serve end-users in its
service territory.

     The CPUC also intends to challenge the Commission's decision that would
enable Enron
     to "just sit on the capacity," thereby withholding idle Block II
capacity from the market.
     Indicated Shippers also contend the Enron contracts violate the Block II
capacity
     provisions of the 1996 rate case, as well as "exacerbate" the primary
firm delivery point
     capacity-allocation issues that are pending before FERC now.

     The CPUC accused El Paso of "deliberately" filing the Enron contracts at
FERC just
     before the holidays to avoid controversy. The pipeline "is trying to
sneak one of the most
     controversial things ever past FERC right before Christmas so that
protests would be
     minimized," said Morris. "They did this with the Dynegy contracts two
years ago. They
     have a pattern of filing right at the last minute, making it harder for
people to protest and
     harder for FERC to stop it from going into effect."

,Copyright 1999 Intelligence Press Inc. All rights reserved. The preceding
news report may not
be republished or redistributed, in whole or in part, in any form, without
prior written consent
of Intelligence Press, Inc.


here is my address cause jason said you would probably need it again

14002 kimberley ln
houston, tx 77079

thanks

Ramiro


We are not sure whether Melissa's Lotus Notes is sending out data properly.
If
you have already received a copy of the attached nomination, please disregard
this copy.

Thanks,
CCS

(See attached file: HPLN1118.xls)

 - HPLN1118.xls


Steve,

I prepared this speech for Greg Whalley before the holidays, I wanted to make
sure you received a copy.
The presentation  "The Impact of Higher Energy Prices to the US Economy"
may be useful in Ken Lay's speech.

M

Maureen


new person taking over for Bob Shults
---------------------- Forwarded by Tana Jones/HOU/ECT on 02/02/2000 02:43 PM
---------------------------

	From:  Bob Shults                           01/31/2000 09:25 PM

To: Tana Jones/HOU/ECT@ECT
cc: Sheri Thomas
Subject: Re: Counterparty Approval List for 1/28/00

Tana please take my name of your distribution and add Sheri Thomas  thanks

	Enron North America Corp.

	From:  Tana Jones                           01/31/2000 02:35 PM

To: Frank L Davis/HOU/ECT@ECT, Bob Shults/HOU/ECT@ECT
cc:
Subject: Counterparty Approval List for 1/28/00

Attached please find referenced list.  The only amended counterparty with a
change was Murphy Exploration which was shut down for power.  I wonder, when
we are working with amended counterparties, if there is some way that my
prior approval could be on the recent spread sheet?  Right now I have to go
find the old spread sheet to find out what I approved it for last time to see
if I have any problem with the change.  So usually, unless I have - change
next to amended, it means I had no change to what I said before.  Does that
make sens?


Please see attached description.  This is going to be a new product.  Please call it US Gas Phys Kern Las Vegas.

Thanks,
Mike
x37031