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[IMAGE]
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October 23, 2001
U.S. Power Firms Plunge Into Europe's Trading Market;
U.K.'s NETA Rules May Set Continental Standard
By Will McNamara
Director, Electric Industry Analysis

[IMAGE]
[News item from Reuters] U.S.-owned Entergy-Koch Trading (NYSE: EKT) is boosting its European electricity and weather trading business with expansion in Germany and the Netherlands. "After a successful start, we plan to substantially increase our volume of European power, power options and weather trading next year," said Uday Narang, managing director of European trading. EKT also completed the paperwork needed to start trading electricity in France and Austria, although its immediate focus would be Germany and the Netherlands.
Analysis: The announcement from Entergy-Koch Trading that it will significantly increase its European power trading business is by no means unique. In fact, a recent scan of announcements from U.S. power firms tells a similar story. Dynegy announced last week that it is seeking acquisitions to strengthen its European operations, in an effort to "replicate its strong U.S. energy trading platform in Europe." TXU said that it expects "sharply higher profits this year" from European energy trading as its electricity trading volumes have soared across the Continent. For the first nine months of 2001, TXU reportedly traded 211 terawatt hours of wholesale electricity in continental Europe, mostly in Germany, which compared to 97 terawatt hours in all of 2000. Further still, UtiliCorp just announced that it and an unnamed financial partner will be purchasing Midlands Electricity, the fourth-largest regional electric utility in the United Kingdom, which in addition to 38,000 miles of electric distribution lines owns a 1,875-MW power plant. The unrelated announcements have a common denominator: U.S. power firms are plunging into the European energy trading market in droves, despite some inherent governmental challenges and resistance toward embracing electric competition among some European countries. A new model in the United Kingdom, known as the new energy trading agreement (NETA) rules, appear to be facilitating more efficient trade in that country and could become the standard across the Continent.
The appeal of Europe's power market for U.S. energy companies is perhaps obvious. According to a Financial Times Energy report from late last year, demand growth for electricity in European countries over the next five years may prompt the need for an additional 69,000 MW of generating capacity to be built (an amount roughly equivalent to the generating capacity of ERCOT in Texas). In addition, like other developed areas of the world, Europe's energy consumption has grown over the last two years. U.S. power firms, who perhaps see their competitive opportunities as being rather limited in this country, have expanded operations in Europe, where electric privatization is occurring on a country-by-country basis. Consequently, the companies mentioned above join Williams, Enron, Duke, AEP, and Mirant (to name a few), which have established London trading offices.
Moreover, many of the U.S. power firms that expand into Europe start by accumulating generation assets in the United Kingdom, as represented by the UtiliCorp and Dynegy announcements. Much of this has to do with the fact that the United Kingdom began privatizing its electric market in the early 1990s and completed the process in May 1999 (after Norway, but well ahead of other European countries). However, there is a more important reason why U.S. energy firms may be drawn to U.K. power trading, and that is related to the area's unique rules for energy transactions, which were outlined in NETA and took effect in March of this year.
To appreciate the significance of the new NETA rules, it is important to first understand the context of the European market as a whole and the trading system that had been in place in the United Kingdom until earlier this year. The European Union has directed countries across the Continent to open their electric markets to competition. Toward this end, the commencement of competition in various European countries has included the following three approaches: 1) allowing end-users the right to select an alternative provider; 2) giving generation companies the right to use an incumbent power supplier's transmission and distribution network, otherwise known as third-party access; and 3) the introduction of energy trading, which has allowed an incumbent supplier to buy power on the wholesale market. This last point is significant, because some of the European countries have dismantled previously integrated, state-owned utilities and mandated the divestiture of generation assets.
At the end of 2000, approximately 68.4 percent of the European Union (EU) electricity market was open to competition. Privatization has theoretically enabled European power companies to expand beyond their traditional service territories and business lines into other countries (at least those that are open). That is the good news. However, the basic problem with this approach is that the European Union did not put standardized deadlines for the transition to a fully competitive marketplace, and thus various countries in Europe have developed their own timetables. For instance, Germany is fully privatized, while France has been notoriously hesitant to provide third-party access to competitors. In practice, this often means that one country may have an extremely complex system for transmission tariffs while its neighboring country may have not developed any standards at all. The other problem is that physical interconnections between countries are often deficient, which makes it difficult to transport power across borders. As a result, wholesale competition across the Continent is considered rather heterogeneous and lacking in comprehensive trading standards. The lack of standards is particularly acute as it relates to rules and tariffs for third-party access to the national grids on the Continent.
While these fundamental problems on the Continent are being resolved, the United Kingdom has moved ahead with what is generally perceived as a more efficient market because it offers one grid system, one balancing and settlement code, and one contract format. However, even the power trading market in the United Kingdom did not get off to an easy start. Up until March of this year, the U.K. power market operated under a pool / auction system. Under that model, generation companies offered electricity for sale, which was then pooled into an auction system where day-ahead bids were made and power was sold in half-hour increments. The model was quite significant because it was one of the first attempts in the world to create a competitive market for generation and it operated outside of governmental oversight.
However, the pool model in the United Kingdom became fraught with problems, mostly because observers believed that excessive opportunity existed for market manipulation. Given the concerns with the pool format, the United Kingdom began to formulate new rules for power trading in October 1998, which culminated in the NETA model that started this year. The key tenets that make NETA different from the previous pool model are:
Forwards and futures markets, which allow participants to form power sale deals using standardized contracts either on-the-day or several years in advance (as opposed to only day-ahead bids).
More flexibility regarding the kinds of contracts that buyers and sellers can negotiate (bilateral and multilateral contracts are allowed in the United Kingdom).
A new balancing mechanism covering ancillary services overseen by National Grid Co. (operating in a role similar to an ISO), which facilitates the various transactions to ensure reliability.
The administration of contracts linking wholesale supplies with demand (represented by individual meters), and the threat of strict penalties for participants whose positions do not match their metered volumes of electricity.

In a nutshell, NETA essentially sharpened the rules surrounding power trading in the United Kingdom to allow less opportunity for gaming. The system improvements have been successful, and more international power firms apparently believe that they stand a better chance of competing in the United Kingdom due to the NETA rules. Installation of the NETA system reportedly has caused a 315-percent increase in the number of contracts traded, a 25-percent drop in wholesale prices and a six-fold increase in the variety of products offered. As of early summer 2001, about 150 new participants had registered to participate under the NETA system, as compared with about 12 under the former model.
As noted, many believe that the NETA model will become a standard for the Continent as other European countries proceed with opening their wholesale markets to competition. In addition to the U.K.'s model, there are several active trading exchanges in Europe presently, although more are expected to emerge as the market becomes more competitive. The Nord Pool, with about 60 members, organizes trade in standardized physical and financial contracts, and provides current prices on electricity in both spot and futures markets. The Dutch Amsterdam Power Exchange has about 25 members and operates a spot market for electrical power. Smaller European exchanges, offering both spot and futures contracts, include the Switzerland Exchange and Germany's Leipzig Power Exchange in Frankfurt. In the meantime, I think we will continue to see additional U.S. power firms expanding into the European trading market, and using the United Kingdom as their launch pad.

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---------------------- Forwarded by Mike Jordan/LON/ECT on 19/01/2001 08:38
---------------------------

Robert Fenton-Stone
04/01/2001 17:42
To: Tani Nath/LON/ECT@ECT, Mike Jordan, Caroline Lothian/LON/ECT@ECT, Kenny
Nicoll/LON/ECT@ECT, Peter Russell/EU/Enron@Enron, Shane Dallmann/LON/ECT@ECT,
Maya Beyhum/LON/ECT@ECT, Robert Fenton-Stone/LON/ECT@ECT, Stephen
Dwyer/LON/ECT@ECT
cc: michelle.bray@uk.arthurandersen.com, Mary-Anne Anderson/EU/Enron@Enron

Subject: FX Taskforce - Phase one final report - mailed by Michelle Bray

Please find attached the revised Phase One report with amendments as
discussed in our meeting this afternoon.

I have asked Mary-Anne Anderson to set up a taskforce meeting for Wednesday
24 January.

Regards
Michelle


Dick Danes met some time ago with Exxon field personnel concerning this
well.  They have now indicated that they have a good well and would like to
be in service by August 15.  I have spoken with the Exxon commercial contact,
Bill Nicus, and he indicated that they would like to site the meter station
at the commonpoint and lay a 4" to HPL.  Dick is picking up a plat @Robstown
office today that reflects where Exxon would like to tie into HPL.  Can we
let Exxon install meter to our specs and pipeline and let us operate but they
own?  We can tap our line and install riser for line to tie in.  I can get
thruput commitment to pay out our investment in tap/riser.  I would prefer to
let them bear costs and ownership with HPL doing measurement.   We will
retain ownership of the tap/riser.

Steve Vanhooser is out but has assigned this project to Gerald Nemec.  By
this memo I am requesting from Gerald a draft facility agreement and a
amendment to the Interruptible Transportation Contract which is attached to
the project agreement.

JoAnne Wagstaff@ENRON
07/17/2000 02:43 PM
To: James R Haden/HOU/ECT@ECT, J R Fosdick/GCO/Enron@Enron
cc: George Weissman/HOU/ECT@ECT, Christy Sweeney/HOU/ECT@ECT, Michael C
Bilberry/HOU/ECT@ECT
Subject: Exxon Church of the Bretheren

Jim and J.R.,

The volume for Exxon Church of the Bretheren is:  5 million/day and will
increase to 20 million/day.

Please let me know if you have any questions.

Thank You!
JoAnne
X68228


Thanks for the good words, hope to see you in Vegas.  Stay out of trouble.
PL


URGENT REPLY AND ACTION NEEDED

Folks,

Rebecca Smith of the Wall Street Journal called me today and asked how
she could access the bid data the ISO has for the generators in order to
do an investigative in-depth analysis of what has occurred in
California's wholesale power market.  Before I get into the details of
her request, I would urge you in the strongest way possible to consider
her request, and grant it.  We need the light of truth to shine on our
business, and the Wall Street Journal may be one of our best aids.  And
consider this, the data will be available to her  in six months, anyway.

Rebecca's intent is to study the data, and understand the true behavior
of the wholesale market for a given month.  She said July 2000 would
work.  Her hypothesis is unlikely that the hype by Gov Davis and the
State of accusing in-state and out-of-state generators of being gougers
and the guitly parties , and can be deminished by the data.  She thinks
there are plenty of people in the generation market who are playing this
straight as an arrow.  Without the data, she can't say anything
conclusive. (of course, I wonder how she will gather the UDC bid data?)

I have one question.  Did the ISO give the detailed bid data to the EOB
or the PUC?  I thought because neither the EOB nor the ISO would or
could keep the data confidential, the detailed bid data was not
released, only the aggregate data.

I asked her if she would keep the data confidential, in other words, not
pass it on to other parties.  She said she could.  I asked her if other
assocaites of the Wall Street Journal would have access to the data.
She said probably  in order to do an in depth analysis others would have
access on a need to know basis, but that the data would not leave the
Wall Street Journal's control.

Tell me what we should do, and tell me quickly.

gba


Zimin,

I mentioned your model to Anjam. I think the virtual storage product
they have in London is a perfect application for you model.

Vince

Zimin Lu
03/13/2000 12:03 PM
To: Vince J Kaminski/HOU/ECT@ECT, Stinson Gibner/HOU/ECT@ECT
cc:
Subject: virtual storage

Vince and Stinson,

Anjam and Natasha called about modeling of virtual storage in UK.
The gas desk has a model built from crystal ball.  They are eager to see
if they can apply the storage model we developed here.  At certain
point, it may be useful for me to visit the London office.

Zimin


Oops, I forgot to add your name, even tho I meant to...
----- Forwarded by Tana Jones/HOU/ECT on 03/15/01 06:41 PM -----

	Tana Jones
	03/15/01 06:42 PM

		 To: Walter Guidroz/Enron@EnronXGate, Tom Moran/Enron@EnronXGate
		 cc:
		 Subject: Bonneville Power Administration

Taking a look at BPA from the 3/8/01 list, I noticed that we've got them
opened up for west coast power only on the offer and not the bid.  I have no
notes that they are restricted in that manner.  What's the scoop?  Marcus, do
you see any reason they should be restricted to the offer side?


Here is the 11.06 update.  Also attached is the presentation made by DeBolt at the 11.5 OPUC meeting and the "Enron Investment" summary.


fyi

 -----Original Message-----
From: 	"Monica Mulryan" <Monica.Mulryan@nerc.net>@ENRON [mailto:IMCEANOTES-+22Monica+20Mulryan+22+20+3CMonica+2EMulryan+40nerc+2Enet+3E+40ENRON@ENRON.com]
Sent:	Wednesday, May 30, 2001 7:43 AM
To:	Monica Mulryan
Subject:	New E-Tag Feature:  Potential Adjust List

TO:	NERC ROSTER
	STANDARDS LIST SERVER GROUP
	OPERATING MANUAL OWNERS
	SYSTEM OPERATOR TRAINERS

Just in case you did not received this on May 25, 2001, we are sending
it again.  If this is a duplicate e-mail, we apologize for any
inconvenience.  Please note however that the phone number for the NERC
Help Desk has been changed to 609-452-1661.

Regards,

Monica Mulryan
Secretary-Operations

 <<Letter-E-Tag PAL 52501.pdf>>
 - Letter-E-Tag PAL 52501.pdf


Pls throw the tires out.....or make planters out of them.  Tic


Wow - too many choices.  Let's see, the day of the week charters start and
end is not fixed - except that the boat has to be available on the days you
want it.  We usually went Sunday to Sunday so we could get 2 weekends in and
use the Saturday as a day to fly down.  It's much harder to get there from
Houston than NYC (fewer flights) so it pretty much takes all day to get
there.  The 3rd - 8th is a Friday through  Wed. - not optimal from the
weekend point of view but doable I suppose  - it just means a 4 day instead
of 7 day charter.  If you want to wait until Thanksgiving we could certainly
manage with the 2 of us - particularly if we got one of the smaller boats -
and it might make sense to go back to the BVI where we know the sailing won't
be all that challenging (I hear the St. Martin area can get rougher).  Plan B
sounds like fun too - and then we could all go together later (it seems mean
to go without Bill) - New Years sounds like a blast to me!  What would you
think about heading down the Friday or Saturday before (12/29 or 30) and
spending the first week of January there?  That assumes Bill can get that
week off and Amanda doesn't have to be back in school til later.  I have a
couple of sailing friends here that might like to go then too if you're
interested in a slightly larger  group.  They're a lot of fun, good cooks and
reasonable sailors  too!

	"Linda Hayman" <LHAYMAN@skadden.com>
	09/05/2000 05:51 PM

		 To: Mark.Taylor@enron.com
		 cc:
		 Subject: Re: Sailing

Amanda has a break from Nov 3-8th  ( and I don't think she has classes on
Friday anyway).  Is that something the three of us can work with?
Alternatively, do you think the two of us could manage over Thanksgiving -
with amanda joining for the long weekend (fly down Thurs eve and back Mon).
I can't remember what day of the week charters begin and end. - is it set in
stone?   Plan B - we could met at the Greenbriar or DC for Thanksgiving.  I
understand from Amanda that Bill is not going anywhere until 2001.  Of course
that does make New Year's eve a possibility.  If all else fails, I did hear
from Greg this week and he wants to know if we are still sailing.   And I am
still looking for something to do over Christmas.

Linda Hayman
Skadden, Arps,Slate, Meagher & Flom, LLP
4 Times Square, 42nd Floor
New York, NY  10036
T:  212-735-2637
F:  917-777-2637

>>> "Mark Taylor" <Mark.Taylor@enron.com> 09/05/00 06:36PM >>>

I sent Amanda & Bill an e-mail a couple of weeks ago and here is Bill's reply.
I sent him a fairly detailed note on how we usually schedule things and which
were the best times of year, etc.  I haven't heard anything from Amanda and
was
beginning to assume they were not really interested in a November trip.  Have
you heard anything firm from Virginia?  Bill's next-to-last paragraph tells me
that he's getting to know Amanda - but I don't think she'll leave him alone
for
the holiday.  The real question is whether her uncanny ability will extend to
his schedule, too.  If they still want to go we'd better make travel plans
soon
- that Thanksgiving Sunday is notoriously difficult to get seats.  If you'd
rather wait until Jan. or Feb. that's fine with me too.  Just let me know.
----- Forwarded by Mark Taylor/HOU/ECT on 09/05/2000 05:04 PM -----
|--------+----------------------->
|        |          WMcgov1047@ao|
|        |          l.com        |
|        |                       |
|        |          08/21/2000   |
|        |          08:14 PM     |
|        |                       |
|--------+----------------------->

>----------------------------------------------------------------------------|
  |
 |
  |       To:     Mark.Taylor@enron.com,
amh5h@virginia.edu                    |
  |
cc:                                                                  |
  |       Subject:     Re: Welcome home!
 |

>----------------------------------------------------------------------------|

Hey Mark, nice to hear from you.  I am glad you enjoyed the wedding.  It went
by so fast for me but it seems that people had a good time.  Apart from a few
travel related glitches the honeymoon was also spectacular.  Tahiti is a true
paradise.

I am committed to the concept of sailing in the Carribean but my problem is
that my honeymoon has put me firmly in "vacation deficit" at the SEC.
Barring any emergency congressional action I will not have enough days
available by Tgiving to truly enjoy sailing in the Carribean.  Amanda has
told me how much fun it is and I want to do it but I may need to find another
time.  I'll check into it and let you guys know definitively very soon.  How
long to you go for?

Keep in mind though that I do not speak for Amanda.  She has an uncanny
ability to arrange her schedule so that she can participate in virtually
every vacation idea that people bring up.

I'll be in touch,  Bill.

------------------------------------------------------
This e-mail, and any attachments thereto, is intended only for use by the
addressee(s) named herein and may contain legally privileged and/or
confidential information.  If you are not the intended recipient of this
e-mail, you are hereby notified that any dissemination, distribution or
copying of this e-mail, and any attachments thereto, is strictly prohibited.
If you have received this e-mail in error, please immediately notify me at
(212) 735-3000 and permanently delete the original and any copy of any e-mail
and any printout thereof.

Further information about the firm, a list of the Partners and their
professional qualifications will be provided upon request.

 - Linda Hayman.vcf


The October Law Conference was approved for CLE credit by the State Bar of
Texas.  We should be receiving the attendance forms soon for distribution to
everyone.  If someone really needs their hours by the end of November, the
law conference was approved as Course No. 000012424 for 5.50 participatory
hours and 0 ethics hours.

Mary J. Heinitz
(713) 853-3245


Sorry about that Vance - I just missed it.  I don't see any problems here
either.

	Vance Meyer@ENRON
	04/12/2001 04:29 PM

		 To: Mark Taylor/HOU/ECT@ECT
		 cc:
		 Subject: RE: InternetWeek

Hey Mark --

I sent this note on March 23 while you were out of the office.  Robert Jones
is fine with this opportunity and I just want to double check that you're ok
also.

Thanks

Vance Meyer
---------------------- Forwarded by Vance Meyer/NA/Enron on 04/12/2001 04:27
PM ---------------------------
From: Vance Meyer on 03/23/2001 10:55 AM
To: Robert W Jones/ENRON@enronXgate, Travis McCullough/HOU/ECT@ECT, Mark
Taylor/HOU/ECT@ECT
cc: Greg Piper/Enron@EnronXGate, Kal Shah/HOU/ECT@ECT

Subject: RE: InternetWeek

Gentlemen --

The background on this message from Greg relates to his potential involvement
in an advisory board for Internet Week magazine.  Essentially, this means
that Greg would attend a couple of meetings per year and participate in a
handful of telephone conversations all aimed at helping the editors at
InternetWeek calibrate themselves in terms of what's important and what's not
in the technology world.  Here are the advantages I see:

Greg gets to work with several high-level CTO's and technology CEO's who also
participate on the board.  This is good exposure for our plans to provide IT
services as a business.
Good exposure in terms of IT recruiting.  The more high-profile places we
are, the better.
Good media relations and the potential for us to track editorial thought in
the technology world.

Philippe had originally planned to do it, but I think we're concluding that
it's a perfect place for Greg to be as part of his efforts to put new
origination activities in motion.

From my PR perch, I see no conflicts but Greg is right to suggest that we run
it by you first.  Ok with you?

Vance Meyer
Director, Media Relations

Vance Meyer, Enron Corp.
(713) 345 4459
----- Forwarded by Vance Meyer/NA/Enron on 03/23/2001 10:51 AM -----

	Greg Piper/ENRON@enronXgate
	03/23/2001 08:26 AM

		 To: Vance Meyer/NA/Enron@ENRON
		 cc: Robert W Jones/ENRON@enronXgate, Travis McCullough/HOU/ECT@ECT
		 Subject: RE: InternetWeek

I am fine with it.  Talk to Robert Jones in HR and Mark Taylor in legal to
make sure we understand my committment and that it doesn't conflict with any
Enron policy, etc. before you do it.

Thanks.

GP

 -----Original Message-----
From:  Meyer, Vance
Sent: Friday, March 23, 2001 8:09 AM
To: Piper, Greg
Subject: InternetWeek

Greg --

If you have talked with Philippe and are comfortable with the Internet Week
advisory board opportunity, I'd like to send them your bio and lock it in.  I
have a copy of your bio from Kal.

Let me know, and we'll push the button.

Thanks

Vance

Vance Meyer, Enron Corp.
(713) 345 4459


Too late....we had it for dinner last night.  Matter of fact, I think I saw
the maids packing up the leftovers this morning and heading your way.  Enjoy.
PL


Mark, you may recall my memo to you in April, 1999 which indicated that for
netting purposes, the conditions included:

1.  The transaction must be governed by a market standard master agreement or
occur on a French regulated market

2.  One of the parties must be (a) an "investment firm" within the meaning of
the law of 2nd of July, 1996, (b) an instituion or firm benefitting from the
provisions of article 25 of the Law or (c) a non-resident entity having a
"comparable status"

The term "investment firm" embodies financial type institutions which recieve
and transmit order for financial instruments for third parties.

There are 12 categories of article 25 firms (including Bank of France,
insurance companies, broker types, etc.)  .For example, one murky designation
includes "persons who supply an investment service which is ancillary to
their professional activity, provided the rules governing such activity do
not prohibt the carrying on of investment services".  Slaughter and May has
advised that they could assist us in determining whether our French
counterparty fit this category and it definitely needs to be discussed with
the counterparty (and extract a rep from them as well).  There are other
categories as well.   I have a copy of the law if you would like to review.

The non-resident entity having "comparable status" is the category WE were
trying for fit into without much success.

Tana tells me that I have given you misinformation.  Perhaps the law has
changed and Justin has a recent update.

ENA has a Soc Gen master, and we have recently sent a Deemed ISDA to a French
corporate (one shot deal only).


Cash-Strapped Farms Embrace Winds of Change Agriculture: Electricity-generating turbines are cropping up across America.
Los Angeles Times, 09/16/01
INDIA PRESS: Foreign Lenders May Exit Dabhol Power Proj
Dow Jones International News, 09/16/01
India: 'DPC may have to pay $20 m as interest for Sept'
Business Line (The Hindu), 09/15/01
India: Reliance not keen on DPC: Mukesh Ambani
Business Line (The Hindu), 09/15/01
EQUITY MARKETS - Alkane works old seams for new energy - SMALLER COMPANIES.
Financial Times, 09/15/01
California Power Grid Still Needs Bolstering
KRTBN Knight-Ridder Tribune Business News: Contra Costa Times - Walnut Creek, California, 09/15/01

Exxon Mobil, Sunoco, Enron Join in U.S. Aid Donations (Update1)
Bloomberg, 09/15/01

California; Advance Desk
Cash-Strapped Farms Embrace Winds of Change Agriculture: Electricity-generating turbines are cropping up across America.
H. JOSEF HEBERT
ASSOCIATED PRESS

09/16/2001
Los Angeles Times
Bulldog Edition
B-2
Copyright 2001 / The Times Mirror Company

WALLULA JUNCTION, Wash. -- Like many ranchers facing pressure from developers, Shirley Hindman worries that one day she might have to break up her Nine Mile Ranch, one of the largest spreads in the Walla Walla Valley.
"That would make me sick," she says.
But now she and her father, Billy, have found another way to protect their 14,000 acres of sagebrush-covered hills and canyonland. The answer has come in the wind--something "we have plenty of," she says.
And something also in growing demand.
Soon the ridgelines across U.S. 12 from Hindman's corrals will be dotted by windmills. By next year Hindman and several other property owners, including a nearby college, expect to be landlords to the world's largest wind farm.
Along southeastern Washington and into neighboring Oregon, 450 Danish-built windmills--sleek white towers 200 feet high with rotors 200 feet across--will churn out enough power for 75,000 families served by Pacificorp, one of the Northwest's leading electric utilities.
Nearly 100 of the wind turbines already are producing. Gravel roads and concrete slabs for the others are in place. "It will help us keep Nine Mile. It will help us sustain a way of life," says Hugh Preston, Hindman's husband.
More than just an economic hedge for farmers and ranchers, wind farms across the West and upper Midwest are emerging as a growing part of the nation's electricity picture. Major projects are operating or earmarked for completion within a year in Kansas, Minnesota, Montana, Nevada and Texas.
While windmills still account for only a fraction of 1% of the electricity produced in the United States, they no longer are the exotic playthings of a few dreamers. Increasingly, big-time players are showing interest in wind to supplement fossil fuel-powered electricity plants, nuclear reactors and hydroelectric dams.
"Wind is a technology that's now reliable and proven," says Robert Morrison, vice president for renewable business development at FPL Energy, the Florida-based company building the 300-megawatt Oregon-Washington project. The cost of generating electricity from wind has declined from 38 cents a kilowatt-hour 20 years ago, to 3 to 5 cents a kilowatt hour in today's larger projects, says the industry. That's competitive with natural gas.
"Suddenly this stuff is economical," says Morrison, whose company has other wind projects under way or being planned in a half-dozen states including Texas, Kansas and Wisconsin.
Other emerging players include Enron, the giant Houston-based energy conglomerate, and the government's Bonneville Power Administration, which this year sought $1 billion worth of wind energy projects and received more bids than expected.
"The response blew us away," said George Darr, Bonneville's manager for renewable resources. Some of the projects will begin operating late next year.
Windmills now account for only about 2,500 megawatts of generating capacity nationwide, but the production is expected almost to double by the end of 2001 to provide enough electricity for 1.3 million households. The industry anticipates that in two decades wind power will grow to 100,000 megawatts and account for 6% of the country's electricity.
In comparison, nuclear power currently provides about 20% of U.S. electricity, coal-fired plants 52%.
Wind's sudden popularity has astounded even its biggest boosters.
"We are in a boom year," says Randall Swisher, executive director of the American Wind Energy Assn., the industry's trade group in Washington, D.C. "We are expecting huge growth, especially in the West."
That is good news for David Bittersdorf, president of NRG Systems Inc., a Vermont company that makes wind-measuring devices. "We've grown 40% this year," he says. His company, which had $10 million in sales, expects business to quadruple over the next five years.
For the Hindman family at Nine Mile Ranch, turbines rising from the scrub mean cash in the bank, while not interfering with their 700 head of cattle. Typically, farmers and ranchers involved in such lease arrangements get about $2,000 a year per turbine.
"Wind is a very lucrative crop for farmers," says Bill Clemens, president of the Chamber of Commerce in nearby Walla Walla. The windmills are "a real curiosity" and may even add to the valley's tourist trade, he said.
Ironically, the region does not provide the most ideal location for wind power.
What some call the Saudi Arabia of wind stretches from eastern Montana and the Dakotas, through Kansas, Nebraska and into Texas--a region with enough wind potential to power the nation, according to the Energy Department.
James Dehlsen, an early wind energy pioneer, dreams of putting together a massive wind complex of 2,000 turbines stretching over 90 miles of prairie in South Dakota. It would be 10 times as large as the Washington-Oregon project and produce a staggering 3,000 megawatts of electricity.
"We're at the early stages of the project," said Dehlsen, founder of the Zond Corp., a U.S. wind turbine manufacturer that has since been bought by Enron. But he said he already has a commitments from 150 farmers for use of 176,000 acres.

PHOTO: "Wind is a technology that's now reliable and proven," says Robert Morrison, vice president for FPL Energy, the Florida-based company building the 300-megawatt Oregon-Washington project.; ; PHOTOGRAPHER: JEFF HORNER / Walla Walla Union-Bulletin / Associated Press
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.

INDIA PRESS: Foreign Lenders May Exit Dabhol Power Proj

09/16/2001
Dow Jones International News
(Copyright (c) 2001, Dow Jones & Company, Inc.)

NEW DELHI -(Dow Jones)- Foreign lenders to U.S. energy company Enron Corp.'s (ENE) Indian unit, Dabhol Power Co., may exit the power project located in the western state of Maharashtra, reports the Business Standard, quoting Press Trust of India.
"The 15-odd foreign lenders have now declined to disburse funds urgently needed for care and preservation of the project. The offshore lenders might be inclined toward the quickest exit route from this project," PTI quoted Dabhol Power spokesman Jimmy Mogal as saying, according to the report.
Dabhol is a 2,184-megawatt power project in the western Indian state of Maharashtra. Enron holds a controlling 65% stake in Dabhol.
Enron has threatened to pull out of the Dabhol project following payment disputes with its sole buyer, the Maharashtra State Electricity Board, and the failure of India's federal government to honor a payment guarantee for the Dabhol project. Web site: www.business-standard.com

- By Himendra Kumar, Dow Jones Newswires; 91-11-461-9426; himendra.kumar@dowjones.com

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.

India: 'DPC may have to pay $20 m as interest for Sept'

09/15/2001
Business Line (The Hindu)
Fin. Times Info Ltd-Asia Africa Intel Wire. Business Line (The Hindu) Copyright (C) 2001 Kasturi & Sons Ltd. All Rights Res'd

MUMBAI, Sept. 14. ENRON'S Dabhol Power Company will have to make interest payments of $20 million for September 2001.
The prospect of paying its "lenders and bankers" led the company to invoke a letter of credit for Rs 136 crore, drawn on the Canara bank, the company's lawyer Mr P. Chidambaram, told the Bombay High Court on Friday.
The company's 728-MW phase one plant has remained unused after MSEB stopped buying power and rescinded the PPA. The second phase is still incomplete.
The Maharashtra State Electricity Board is DPC's sole customer and source of income. The company may reportedly find it difficult to make interest payments to lenders after the end of this month due to paucity of funds.
- Our Bureau

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.

India: Reliance not keen on DPC: Mukesh Ambani

09/15/2001
Business Line (The Hindu)
Fin. Times Info Ltd-Asia Africa Intel Wire. Business Line (The Hindu) Copyright (C) 2001 Kasturi & Sons Ltd. All Rights Res'd

MUMBAI, Sept. 14. RELIANCE Industries Ltd has ruled out any possibility of picking up a stake in Enron's Dabhol Power Company (DPC).
"We have our hands full at the moment. And we are simply not interested in the project," said Mr Mukesh Ambani, Vice-Chairman and Managing Director, Reliance Industries Ltd, here on Friday.
Mr Ambani denied reports that the group was interested in picking up a stake in the 2,184-MW project, which had been hanging fire after the Maharashtra State Electricity Board stopped buying power citing expensive rates.
The group has plans to set up a 3960-MW independent power producing unit at Hirma in Orissa.
He said the Reliance group planned to set up extra tankages for storing liquefied natural gas in Gujarat.
The gas will be transported through the planned LNG pipeline to "land-locked regions".
The pipeline is scheduled to run parallel to the 1,700-km Central India pipeline planned by Petronet India Ltd for transporting petroleum products to the northern States. "We have planned two cross-country pipelines to link the relatively fuel-rich coastal areas with locations in interior regions," Mr Ambani said.
- Our Bureau

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.

EQUITY MARKETS - Alkane works old seams for new energy - SMALLER COMPANIES.
By DAVID BLACKWELL.

09/15/2001
Financial Times
(c) 2001 Financial Times Limited . All Rights Reserved

In the days when Britain had a thriving coal industry, miners sometimes tapped the methane gas that seeps from coal seams to heat the water for their baths. It made sense to utilise what was virtually free energy. But the closure of most of the UK's mines left the dangerous and environmentally damaging gas venting into the atmosphere.
Alkane Energy was founded in the early 1990s to look into the commercial possibilities of harnessing methane. This week the company said it planned to open 100 methane production platforms across the UK in the next five years.
Among greenhouse gases, methane is far more harmful than carbon dioxide. Yet at relatively low concentrations it can be used to generate electricity for about half the cost of natural gas.
Alkane has three production sites in the East Midlands. It believes the gas it is already capturing for commercial use has the same environmental benefit as taking 100,000 cars off the roads.
The company has started building a further six plants to extract methane from abandoned coal mines. It has signed memorandums of understanding with Enron, the US energy group, which is interested in 10 sites, and Scottish & Southern, which is interested in five.
Alkane's strategy is to get electricity supply companies to build their own generating plant at the sites and contract to buy gas on a take-or-pay basis. The advantage to the generator is that the gas costs 12p a therm compared with other natural gas prices of about 25p a therm.
But the pioneering nature of the work is illustrated by problems at the company's first site at Markham, Derbyshire, opened in early 1999. The site supplies gas not to an electricity generator but to Coalite, which uses it in its chemical distillation processes for soaps and disinfectants.
After running well initially, production was hit by an air leak from a mine three miles away, diluting the concentration of methane. David Cross, chief executive and one of the founders of Alkane, says the leak has been sealed and the concentration of methane is starting to rise. But it will be some time before production is back to normal levels.
SG, the company's broker, is expecting Alkane to make profits of #1.25m next year, rising to #5.24m in 2003. But the problems at Markham pushed the company #363,000 into the red at the operating level in the first half this year as sales fell from #707,000 to #552,000.
Mark Redway, oil analyst at Teather & Greenwood, says this sort of energy company should be encouraged because of the clear environmental benefits, but he warns that there seems to be a "green premium" in the share price of just over 100p.
Markham has revealed technical risks, Redway says, and highlighted the fact that some problems show up only when a site is up and running. "In addition, the roll-out programme makes the considerable assumption that the company can find a buyer for all its sites," he says.
Cross believes most of the technical problems of production have been solved. The site at Shirebrook, Derbyshire, "has run from the day it opened in January last year with no problems". It is producing 6 1/2m therms a year, enough to drive a 10MW generator and supply power for 10,000 houses.
When the company floated last December, raising #30m at 90p a share, it detailed the problems at Markham in its prospectus. At the end of the first half Alkane had #24m on the balance sheet, enough to cover the opening programme for the next two years.
David Blackwell.
(c) Copyright Financial Times Ltd. All rights reserved.
http://www.ft.com.

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.

California Power Grid Still Needs Bolstering
Rick Jurgens

09/15/2001
KRTBN Knight-Ridder Tribune Business News: Contra Costa Times - Walnut Creek, California
Copyright (C) 2001 KRTBN Knight Ridder Tribune Business News; Source: World Reporter (TM)

Not surprisingly, Tuesday's terrorist attacks 3,000 miles away did not disrupt operations of California's fragile power grid, but they did slow up efforts to stabilize and restore financial health to the state's electricity industry.
The day of the attack, the California Independent System Operator experienced no operational problems but did step up security at the Folsom and Alhambra control centers, where it manages the grid, said Stephanie McCorkle, a spokeswoman.
For the electricity buyers at the California Department of Water Resources, Tuesday was "a somewhat normal day," said Oscar Hidalgo, a spokesman for the agency that procures power for customers of the state's cash-strapped utilities. "We didn't see any fluctuations in prices that were significantly up or down," he said. All but a "skeletal crew" of DWR employees were sent home for security reasons, but power buying and selling continued normally, he said.
That was despite the evacuation of some large Houston trading floors where short-term contracts to deliver electricity and natural gas normally change hands. Reliant Energy sent home most of its employees, halting speculative or risk-management transactions, but a handful of traders remained to handle physical transactions affecting the dispatch of generation capacity and the flow of power and gas, said spokeswoman Sandy Fruhman.
San Jose-based power plant operator Calpine Corp. said the mayor of Houston ordered the trading floor evacuation, but that did not knock Calpine out of the market. "They moved the people to another location to continue trading," said spokesman Bill Highlander. "It was a disruption, but a minor one."
Wholesale giant Enron also closed Tuesday. It reopened for a half day of trading on Wednesday and resumed full trading Thursday, said spokesman Eric Thode. The giant market maker saw a brief 4 percent run-up in natural gas prices, but those prices soon fell back to their pre-attack levels, while electricity prices were up a barely noticeable $1 or $2 per megawatt hour, he said.
But the attacks seem likely to have some long-term effects on the costs of domestic natural gas and electricity. On Friday, the Federal Energy Regulatory Commission said in a release "that electric, gas, and oil companies may need to adopt and/or update procedures and install facilities that further safeguard electric power grids and natural gas pipelines." The commission, which regulates the wholesale power and natural gas markets, said that it would "approve applications proposing the recovery of prudently incurred costs made in response to the heightened state of alert the country is now experiencing."
More immediately, Tuesday's shutdown of the nation's financial markets delayed the state of California's sale of $5.7 billion of revenue anticipation notes scheduled for Thursday. That short-term financing is needed to tide over the state until its planned sale of $12.5 billion of revenue bonds to finance past and future electricity purchases. The timing of the bond sale was not affected by the market shutdown, because it cannot go forward until related measures are approved by the state Public Utilities Commission, state Treasurer Phil Angelides said in a release.
The week's traumatic events were also blamed by Edison International Chief Financial Officer Ted Craver for banks' inability to extend some of the company's due-to-expire credit lines. A "quickie" two-week extension was provided so that banks, unable to function normally this week, could conduct a more thorough review of the extension application, he said in a conference call Friday.

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.

Exxon Mobil, Sunoco, Enron Join in U.S. Aid Donations (Update1)
2001-09-14 17:34 (New York)

Exxon Mobil, Sunoco, Enron Join in U.S. Aid Donations (Update1)

     (Adds Enron donating $1 million in third paragraph.)

     Irving, Texas, Sept. 14 (Bloomberg) -- Exxon Mobil Corp., the
largest publicly traded oil company, said it and its employees
will donate as much as $20 million to relief efforts for Tuesday's
terrorist attacks in the U.S.

     The company, based in Irving, Texas, will donate $5 million
to agencies and charitable organizations assisting surviving
families of the injured and deceased in New York and Washington.
It also will match donations from employees, retired workers,
dealers and distributors on a 3-to-1 basis.

     Enron Corp., the biggest energy trader, said it will donate
$1 million, half to the American Red Cross and half to
organizations set up by New York City to help families of police,
firefighters and emergency medical personnel.

     Houston-based Enron asked its 18,000 employees to donate as
much as $15,000, and the company will add as much as $30,000.

     Terrorists hijacked four commercial airliners, crashing two
into the World Trade Center towers in New York, destroying the
buildings. Another plane crashed into the Pentagon, outside
Washington, collapsing part of the building. The fourth crashed in
western Pennsylvania, about 80 miles from Pittsburgh.

     Philadephia-based Sunoco Inc., one of the biggest fuel
sellers in the U.S. Northeast, said it pledged $1 million for
relief efforts.

     Phillips Petroleum Co., the sixth-largest U.S. oil company,
said it will donate $3 million to the victims of the terrorist
attacks.

     BP Plc, Chevron Corp., Texaco Inc., Amerada Hess Corp. and
Williams Cos. pledged a combined $21 million in the past two days
to help attack victims.


A bit more information I didn't have on the call this morning - the enhancement to the Standard Severance Plan that I am putting in place for Government Affairs will be 30% of an individual's base salary( This would be in addition to the max that might be reached in rare instances under the Standard plan).  If you have questions on this or anything else, please feel free to contact me.

Thanks.


mike, jeff

although for short term biz we are still trading as usual (we are fixing an average of one ship per working day in order to close heavily in the money short positions read in plain english to realize profits) and although we are keeping the deal pipeline alive for longer term biz it would help me a lot in order to keep on motivating my team and continue increase our positive ytd cashflow/realized margin and minimise our already very small average capital employed , to have following questions answered asap :

1/
what are the likely scenarios you see as off today for EGM/Coal/Vessel trading (being a grown up person please give me all the possible scenarios you see/ among other things management is the art of being prepared for the worse)

2/
what is the scenario you are betting on

3/
as EGM management what are you doing practically in order to make that scenario happen (a daily report on this would be much welcome for us to take steps to help things happen)

your timely feed back much appreciated . thanks

pierre aury
please visit our web site :
<http://www.enronshipping.com/>
Enron Europe Limited
+44 207 783 4427 phone
+44 207 783 9087 fax
+44 7776 227776 Mobile
pierre.aury@enron.com

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

This e-mail/fax and any files transmitted with it may contain confidential and/or privileged material and is intended only for the person or entity to which it is addressed. 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 have received this e-mail/fax in error, please notify the sender immediatly and delete this material from all known records.


----- Forwarded by Sara Shackleton/HOU/ECT on 11/16/2000 07:13 PM -----

	Treasa Kirby
	11/16/2000 05:13 AM

		 To: Stephen Jacobson/EU/Enron@Enron, Matthew Landy/OSL/ECT@ECT, Kim S
Theriot/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT, Rod Nelson/LON/ECT@ECT,
Chris Glaas/LON/ECT@ECT, Marcus Von Bock Und Polach/LON/ECT@ECT
		 cc:
		 Subject:

Please find attached draft confirmations for the Corp Prepay.

Regards

Treasa
---------------------- Forwarded by Treasa Kirby/LON/ECT on 16/11/2000 11:12
---------------------------

akeros@tdsec.co.uk on 16/11/2000 10:36:29
To: tkirby@enron.com
cc: francg2@tdsec.co.uk, fulles2@tdsec.co.uk

Subject:

(See attached file: Enron.doc)(See attached file: Enron2.doc)(See attached
file:
Mscg.doc)

Treasa

Please find attached Draft Confirmations showing indicative terms.

Please note that trade size, pricing and maturity are still subject to
internal
approve and the issue concerning our ability to successful net credit
protection
with this transaction still has to be resolved before we will be in a position
to trade.

Please let me know if you have further questions.

I'll speak to you later today

Regards Shane
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intended addressee(s) only. If you have received it in error, please do not
disclose the contents to anyone. Notify the sender immediately and delete the
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distribution, copying or use of this information is strictly prohibited and
may
be unlawful.  We do not guarantee the accuracy or completeness of this
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benefit of the intended addressee(s) and subject to the terms of any other
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------------------------------------------------------------------------------

 - Enron.doc
 - Enron2.doc
 - Mscg.doc


Ed, we have been looking at the best alternatives for addressing all aspects of this deal, including the gas agreement. Rick Hill & I will explain where we are in general & w.r.t. The gas agreement. We can then followup with the cornhusker deal team on your concerns as we need to meet for an update on a course of action independent of this concern.
Regards, lisa
Sent from Lisa Bills


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 12/30/99
03:33 PM ---------------------------

VKaminski@aol.com on 12/17/99 07:48:19 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Fwd: Credit Trading White Paper

Return-Path: <vkamins@ect.enron.com>
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X-Lotus-FromDomain: ECT
From: "Vince J Kaminski" <vkamins@ect.enron.com>
To: vkaminski@aol.com
Message-ID: <8625684A.00735677.00@notes.ect.enron.com>
Date: Fri, 17 Dec 1999 14:59:40 -0600
Subject: Re: Credit Trading White Paper
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---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 12/17/99 02:59
PM ---------------------------

From: Bryan Seyfried on 12/17/99 01:36 PM GMT

To:   Pinnamaneni Krishnarao/HOU/ECT@ECT, Vince J Kaminski/HOU/ECT@ECT
cc:   Katja Schilling/LON/ECT@ECT, Shirley Crenshaw/HOU/ECT@ECT
Subject:  Re: Credit Trading White Paper  (Document link: Vince J Kaminski)

If either of you have a soft copy of the paper we would appreciate it.  We
will
do the work but will definately give credit where it is due and also where it
has the most impact (from you guys).

thanks

Katja Schilling
17/12/99 06:01

To:   Vasant Shanbhogue/HOU/ECT@ECT
cc:   Bijoya Banerjea/LON/ECT@ECT, Bryan Seyfried/LON/ECT@ECT

Subject:  Credit Trading White Paper

Dear Vasant,

I am currently working with Bryan Seyfried and the Credit Markets/Trading
group
in London, and am in the process of designing and building a website as an
information portal.

I am in possession of a paper that you co-authored entitled "Actively Managing
Credit Risk", which was published in Risk Publications.

Bryan has asked Bijoya (who is interning here during her X-mas holiday from
the
LSE) to update this paper and generate a new White Paper about the current
state
of the credit market and the developments we are pursuing and creating. This
will be used on our website and be published later in time.

Could you please - if you have the time - contact and maybe work with Bijoya
to
draft this White Paper? Bryan is in Houston today and may be able to give a
better idea of what he is exactly looking for ... Otherwise, he will be in
London again next week.

I thank you in advance, and hope that we can pull something together in the
next
few weeks.

Please contact me at any time!

Regards from London

Katja


Tana:

What's the status of this ETA letter agreement.  I just got an e-mail from
the Allegheny attorney, and she has apparently not received.  I'll forward
you her e-mail if you wouldn't mind responding with the status.

Leslie
----- Forwarded by Leslie Hansen/HOU/ECT on 08/16/2000 08:18 AM -----

	Leslie Hansen
	08/01/2000 09:23 AM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: Re: Allegheny Energy ETA

Tana:

Okay to execute.

Thanks,

Leslie
----- Forwarded by Leslie Hansen/HOU/ECT on 08/01/2000 09:22 AM -----

	David Forster@ENRON
	07/31/2000 12:05 PM

		 To: Leslie Hansen/HOU/ECT@ECT
		 cc:
		 Subject: Re: Allegheny Energy ETA

Looks good. I will approve hardcopy of this.

Dave

Leslie Hansen@ECT
07/31/2000 11:58 AM
To: David Forster/Corp/Enron@ENRON
cc: Tana Jones/HOU/ECT@ECT

Subject: Re: Allegheny Energy ETA

Dave:

Attached please find the ETA letter I prepared for Allegheny Energy.  Please
review and approve.  Let me know if you have any questions.

Leslie


-----Original Message-----
From: 	Kaminski, Vince J
Sent:	Thursday, January 10, 2002 6:15 PM
To:	Gonzalez, Esmeralda
Cc:	Kaminski, Vince J; Daniels, Eddy
Subject:	RE: Enron Corp., Enron North America Corp. and Enron Net Works Questionnaires

Esmeralda,

I have not received any questionnaire. Can you, please, resend it.

Vince Kaminski

 -----Original Message-----
From: 	Gonzalez, Esmeralda
Sent:	Thursday, January 10, 2002 5:45 PM
To:	Lay, Kenneth; Whalley, Greg; Causey, Richard; Kean, Steven J.; Koenig, Mark; McMahon, Jeffrey; Metts, Mark; Olson, Cindy; Butts, Bob; Detmering, Tim; Donahue, Jeff; Lindholm, Tod A.; Muller, Mark S.; Rieker, Paula; Shapiro, Richard; Stabler, Frank; Taylor, Mitch; Donovan, Bill; Joyce, Mary; Menchaca, Peggy; Oxley, David; Palmer, Mark A. (PR); Port, David; Rogers, Rex; Rub, Jenny; Steffes, James D.; Waddell, Rick; Webb, Jay; Piper, Greg; Haedicke, Mark E.; Kitchen, Louise; Beck, Sally; Apollo, Beth; Dayao, Anthony; Jones, Robert W.- HR Exec; Palmer, Mark A. (PR); Pearce, Barry; Perlman, Beth; Rub, Jenny; Taylor, Mark E (Legal); Brown, Bill W.; Deffner, Joseph; Miller, Don (Asset Mktg); Lavorato, John; Allen, Phillip K.; Beck, Sally; Belden, Tim; Calger, Christopher F.; Deffner, Joseph; Detmering, Tim; Duran, W. David; Gold, Joe; Hickerson, Gary; Kaminski, Vince J; Mcclellan, George; McMahon, Jeffrey; Milnthorp, Rob; Murray, Julia; Arora, Harry; Baughman, Edward; Beyer, Michael J; Bradford, William S.; Brown, Michael; Bunnell, Don; Castleman, Kent; Collonges, Remi; Curran, Greg; Foster, Chris H.; Fox, Craig A.; Garner, Bruce; Gomez, Julie A.; Gonzales, Eric; Grigsby, Mike; Hermans, Greg; Herndon, Rogers; Hirl, Joseph; Holzer, Eric; Jones, Robert W.- HR Exec; Josey, Scott; Keel, Allan; Kinneman, Jeff; Knudsen, Sheila A.; Kohli, Sandeep; Krishnarao, Pinnamaneni; Lagrasta, Fred; Leach, Doug; Lemmons Jr., Billy; Lewis, James C.; Lewis, Richard; Luce, Laura; Malcolm, Rodney; McCullough, Travis; McMichael Jr., Ed; Melendrez, Jesus; Miller, Don (Asset Mktg); Miller, Michael; Nath, Tani; Novak, John; Oxley, David; Patrick, Michael K.; Quilkey, Paul; Reck, Daniel; Roberts, Mike A.; Sager, Elizabeth; Sanders, Richard B.; Sandt, Jim; Sayers, Rod; Schuler, Lance (Legal); Schwieger, Jim; Seyfried, Bryan; Shanbhogue, Vasant; Shapiro, Richard; Staley, Stuart; Swerzbin, Mike; Tawney, Mark; Thompson, John (London); Tricoli, Carl; Tweed, Sheila; Wantschek, Lloyd; Wiggs, Brett; Young, Steve
Cc:	Daniels, Eddy; Haedicke, Mark E.
Subject:	Enron Corp., Enron North America Corp. and Enron Net Works Questionnaires

We have not yet received your response.  Please forward your responses to the questionnaires to Eddy Daniels as soon as possible.

Please disregard this message if you have already sent your responses.  Thanks.

Sent on behalf of Eddy Daniels

Eddy Daniels
Legal Dept.
Enron North America Corp.
1400 Smith Street, ECN 3813
Houston, Texas 77002
Phone:	713.345.4753
Fax:	713.646.3490


This is the preliminary results of "round 2" of testing the management
report.  I will give you the highlights tomorrow in our meeting.  (Stephen's
comments pretty much cover it).

Sheri
---------------------- Forwarded by Sheri Thomas/HOU/ECT on 08/28/2000 09:16
AM ---------------------------

From:  Sheri Thomas
  08/28/2000 09:17 AM

To: Andy Zipper/Corp/Enron@Enron
cc:
Subject: Test Results of EOL Management Report

Let me know if you want us to go over this with you.

Sheri
---------------------- Forwarded by Sheri Thomas/HOU/ECT on 08/28/2000 09:15
AM ---------------------------
From: Stephen Simpson@ENRON on 08/25/2000 06:19 PM
To: Louise Kitchen/HOU/ECT@ECT
cc: David Forster/Corp/Enron@Enron, Torrey Moorer/HOU/ECT@ECT, Sheri
Thomas/HOU/ECT@ECT, Mark Thibodeaux/HOU/ECT@ECT, Andrew
Parsons/Corp/Enron@Enron
Subject: Test Results of EOL Management Report

Louise,

I have attached a draft of the newly revised report on our test results of
the EOL Management Report for your review.  Please keep in mind this is a
tentative draft.  Mark and Andrew still want to perform some QA on the
results and Torrey is still looking into some of the observations.

To summarize, we observed a significant improvement from the last test we
performed a few months ago.  The systemic problems that created a large
volume of the discrepancies in our previous testing have been greatly
reduced.  The majority of the discrepancies identified in the most recent
testing are primarily a result of random data entry errors and some deal
booking changes made in the back office without the Product Control Group's
knowledge.  Torrey has already corrected the most significant discrepancies
and is continuing to investigate the smaller items.

Andrew and I will both be on vacation for the week of August 28.  When we
return, we will set up a meeting with you and Dave to discuss the final
results once Torrey has had time to conclude his research.

Steve


Here's what I sent.  We can revise it as appropriate (for one thing I need to
total up the dollars involved and fill in some blanks).
---------------------- Forwarded by Paul Kaufman/PDX/ECT on 03/15/2000 03:36
PM ---------------------------

Paul Kaufman
03/15/2000 03:32 PM
To: Richard Shapiro/HOU/EES@EES, Aleck Dadson/TOR/ECT@ECT, Paul
Kaufman/PDX/ECT@ECT, Kathleen E Magruder/HOU/EES@EES, Joe
Hartsoe/Corp/Enron@Enron, Jose Bestard/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Scott Bolton/Enron Communications@Enron Communications, Jeff
Brown/HOU/EES@EES, Janine Migden/DUB/EES@EES, Steve Montovano/DUB/EES@EES,
Amr Ibrahim/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Alberto
Levy/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Ricardo Charvel/NA/Enron@Enron, Sue
Nord/HOU/EES@EES, Joe Hillings/Corp/Enron@Enron, Donald Lassere/HOU/EES@EES
cc: Ginger Dernehl/HOU/EES@EES
Subject: Priorities and Potential Accomplishments

See Attached for Western States


Jason:

I have reviewed the CA and only have one comment.  I would like to add a
paragragh 10 as follows:  "This Agreement shall terminate on the date one
year from the date of this Agreement."

Enron Net Works LLC will be the party to the agreement.  The address is 1400
Smith Street, Houston Texas  77002.  Please set up the agreement for
signature by Louise Kitchen as Managing Director.  My number is 713-853-6544
if you have any questions.

Regards,

Mark Haedicke


it was ok.  i went to austin fri night and watched the ut game on sat.  how
was that wedding?  was it worth going up to neckville, oklahoma? are you
hitting the town this week?  let me know if you want to go get a drink.


no.  i had it in my back pocket and it might have dialed you.  i was at the
u2 concert.  what has been going on?


- dab.exe


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Just a last reminder that you haven't renewed your 2001 NESA/HEA dues.  We
are in the process of preparing to publish our annual directory and are
hopeful that you will take a moment to renew your dues so that you are
included.  If you have misplaced your form, please visit our website at
www.nesanet.org and click on WHAT IS NESA, or call the office at
713/856-6525 and we can update your records over the phone with a credit
card.  Dues are only $75 and you don't want to be left out!

Let us hear from you, or if you wish to be deleted, just respond to this
message.  Thanks for your consideration and we hope you'll renew your dues!

Teresa Knight
Vice President, Membership
NESA/HEA
(713)856-6525
Fax (713)856-6199


Jennifer:
I'll be here, 3221F, tomorrow from 7:00 - 8:00 and 8:30-9:00 am.
Thanks
John

Jennifer Milligan
08/21/2000 11:15 AM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: stock option grant agreement

John,

I am a new generalist on your Human Resources team and  I would like to
deliver your Stock Option Grant Agreement.   We are required to deliver these
documents in person, so please email me with your current EB location or call
me with a convenient delivery time.

Thanks,
Jennifer
X35272


Got your message.  Which bill?  Could you try Scott Govenar (916.448.8240), since he's the lord of all bill activity?  Thanks a bunch.

Best,
Jeff


-----Original Message-----
From: Leppard, Steve
Sent: Thursday, August 16, 2001 9:45 AM
To: Kaminski, Vince J; Gold, Joe
Cc: Lynch, Drew
Subject: FW: Follow up to our meeting 9.8.01

Vince

It seems that Risk are getting out of the book publishing business to concentrate on their journals.  I have established contact with the senior commissioning editor for Wiley, who is interested in working with us to publish something like our joint Risk publication (Managing Energy Price Risk), as well as a similar title on metals.

I'm due to go on holiday from tomorrow for a couple of weeks.  Would you be interested in following up with her, or should I continue when I return from my break?
(Vince - Something you may not be aware of is that I'm moving over to trade oil derivatives when I return from my holiday for Niamh Clarke/John Nowlan.)

Given that I'm getting out of the metals business it would be appropriate for someone else to pick up the metals price risk book proposal, though I am happy to continue with it if Joe wishes.

Steve

-----Original Message-----
From: SWhittak@wiley.co.uk [mailto:SWhittak@wiley.co.uk]
Sent: 16 August 2001 15:19
To: Leppard, Steve
Subject: Follow up to our meeting 9.8.01

Dear Steve

It was a pleasure meeting up with you again last week.  I enjoyed our
meeting and found it most informative - thanks for the tour of the various
trading floors.

As discussed, I would be most interested in pursuing a book on metals
trading, and more broadly, various books on the quantitative aspects of
energy trading (& related commodities). Wiley is renowned for the depth and
breadth of its finance publishing and, in particular, well-respected for
the more quantitative part of our finance list.  Such titles include
Rebonato's 'Interest Rate Option Models'; Willmott's 'Paul Willmott on
Quantitative Finance'; Taleb 'Dynamic Hedging'; Saunders 'Credit Risk
Measurement'; James/Webber 'Interest Rate Modelling'; Caouette et al
'Managing Credit Risk'; Carol Alexander's 'Risk Management' and so on.
One area that we are interesting in publishing in is in the area of energy,
in its broadest sense.  Enron is obviously a key player in this market, and
we would certainly welcome exploring various options in terms of publishing
books with Enron, Enron employees or as part of a collaboration with
various industry players.

Wiley is a publisher with an international reputation.  Within finance we
commission product from the US, Europe and Asia, under the Wiley Finance
umbrella.  A key part of our publishing strategy is to present our titles
as a seamless whole, with global sales, marketing and distribution.  Our
various sales channels include teams dedicated to servicing the needs of
the booktrade; online accounts; corporates; libraries, universities and the
increasing number of e-content providers (e.g. NetLibrary; Fat Brain etc.)

Topics of interest that initially spring to mind include:
   Managing Metals Price Risk
   Managing Energy Price Risk
   Weather Risk Management
   Books on trading, risk management etc. for specific commodities
   (broadband; electricity, natural gas, oil etc.)

When we met you discussed the possibility of putting together a book
proposal on metals, with your team at Enron.  I very much hope that you
decide to pursue this further.  For your information, I have attached our
standard new book proposal form below, as a guideline.  Finally, you also
planned on speaking with Vince Kaminski about other publishing
opportunities and book ideas.  I would be more than happy to follow up with
Vince myself if you thought this appropriate.

Once again, thanks for your time last Thursday. I very much look forward to
hearing from you.

All best wishes
Sam

Samantha Whittaker
Senior Publishing Editor, Finance
John Wiley & Sons Ltd.
Direct T: +44 (0)1243 770643
Mobile: 07764335111

New Book Proposal Form

1.  A statement of the purpose and main features of the proposed book - its
raison d'etre. (e.g. why the need for such a book; size of market;
inclusion of case studies and so on).
2.  A note of the specific types of readership the book would attract, and
why.  For example, a definition of the type of practitioner who would be
interested in the book, including job titles.
3.  Notes comparing the nearest existing books which might be thought
related or competitive.  How would your book differ?
4.  A list of chapters, with brief notes on the content of each chapter
plus an estimate of the approximate length.
5. A note, if possible, of the likely illustrative content of each chapter;
the number of tables, drawings, graphs etc.
6. Author C.V.
7.  When you would hope to deliver the manuscript, assuming the project
goes to contract.


FYI
---------------------- Forwarded by Michelle Cash/HOU/ECT on 04/20/2000 02:45
PM ---------------------------

"DODD, JEFF" <jdodd@mdck.com> on 04/20/2000 02:32:41 PM
To: "'Michelle.Cash@enron.com'" <Michelle.Cash@enron.com>
cc:
Subject: RE: Data Protection Agreement to permit transfer of Enron personn el
data from EU countries to the USA

Yes the two are the new policy and agreement; the "annotated" has not been
revised, but explains the point about Exhibit C to the Agreement.

-----Original Message-----
From: Michelle.Cash@enron.com [mailto:Michelle.Cash@enron.com]
Sent: Thursday, April 20, 2000 1:45 PM
To: jdodd@mdck.com
Cc: Jon.Chapman@enron.com
Subject: RE: Data Protection Agreement to permit transfer of Enron
personn el data from EU countries to the USA

Jeff, I assume that the two attachments are the revised policies.  If that
is not the case, let me know.  Thanks for your follow up.  Michelle

.

"DODD, JEFF" <jdodd@mdck.com> on 04/20/2000 01:13:34 PM

To:   "'Michelle Cash'" <Michelle.Cash@enron.com>
cc:
Subject:  RE: Data Protection Agreement to permit transfer of Enron personn
      el data from EU countries to the USA

Wow. You should have received these awhile ago. We had a virus shutdown,
but
I cannot think of any other reason why you do not have these. Let me state
what I attempted to state in my last message:

     1) As to the Data Protection Agreements, we contemplate that an
Exhibit C will be attached that will describe the non-exclusive types of
information that will be personal data. For your information I am resending
the "annotated" version of this agreement to describe the significance of
the removal of brackets. We also added a section 3.g to allow additions to
the purposes for collection. As the regulators in the EU become more
refined
in their analysis and requirements as to the statement of purpose, you
might
need to alter purposes.

     2) As to the Policy itself, we inserted a line that dates the
revision of the policy, and we added a provision in Section 2 corresponding
to the change in Section 3.g mentioned above.

Please call me to let me know that you got this. Should I send something to
John?!

-----Original Message-----
From: Michelle Cash [mailto:Michelle.Cash@enron.com]
Sent: Monday, April 17, 2000 3:08 PM
To: jdodd@mdck.com
Subject: Data Protection Agreement to permit transfer of Enron personnel
data from EU countries to the USA

Jeff,

What is the status of the document?  I expect that Jon will be calling me
any
day.

Thanks.

Michelle

---------------------- Forwarded by Michelle Cash/HOU/ECT on 04/17/2000
03:08 PM
---------------------------

Michelle Cash
01/10/2000 02:34 PM

To:   jdodd@mdck.com
cc:
Subject:  Data Protection Agreement to permit transfer of Enron personnel
data
      from EU countries to the USA

Jeff, here is information from Jon Chapman.  Let's discuss when you have a
chance to review it.  Michelle

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

Michelle,

Further to our discussion on Tuesday , I am very happy to proceed on the
basis
of Jeff Dodd's draft Agreement ( and draft Data Protection Policy) . Can
you
ask
him to prepare a final version and let us have it , please.

The EU "Data Exporter" entities are as follows:-

UK

Enron Europe Limited (also Italy )
Enron Power Operations Limited
Enron Teesside Operations Limited
Enron Direct Limited
Enron Engineering Services
Caxios Limited

Norway and Sweden

Enron Capital & Trade Resources International Corp.

Germany

Enron Energie GmbH

Finland

Enron Finland Energy OY

Spain

Enron Espana Energia S.L.

Note that Norway is not a member of the EU but , as a member of the
European
Economic Area , should be treated as an EU member for these purposes.

I look forward to hearing from you.

Thanks.

Jon

(See attached file: #606521 v2 - ENRON unannotated Data Protection
Policy.doc)
(See attached file: #606631 v2 - data protection agreement-no
annotation.doc)
(See attached file: Annotated Agreement- Not revised since 12-1998.doc)


Ughh...


I just love the law....

From: Roseann Engeldorf on 11/28/2000 03:00 PM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: Re: Assignment rev 2

That looks really good.  If they want, they can add in the more specific ones
- ya think?

You're a draftin' fool.

Rose


will be in houston thursday & friday
would like to meet , maybe have dinner if you guys can
john and i talked about golf  this coming weekend, sounds good

will call you guys monday,
thanks
heff


Tana,

FYI !

Per verification recd below and pending letterhead documentation from the
counterparty, CP# 95964 Western Area Power Administration - Desert SW Region
will be inactivated in GCP.  CP# 47358 will involve a name change procedure
from Western Area Power Administration - Phoenix Area Office to Western Area
Power Administration - Desert Southwest Region.

BR

---------------------- Forwarded by Bernice Rodriguez/HOU/ECT on 04/18/2001
04:23 PM ---------------------------

Rhonda L Denton
04/18/2001 09:52 AM
To: Bernice Rodriguez/HOU/ECT@ECT
cc:
Subject: Re: Western Area Power Administration

Bernice, here is the information on WAPA counterparties.  I will send you a
specific request on each of these entities when I can get to it.  In the
meantime, can you please change the name for WAPA phonenix to WAPA-Desert
Southwest Region so that we do not have duplicate records and tell EOL about
the changes.  Let me know if you have questions.  EOL is waiting for me to
populate a contract for the new record that you set up for desert SW region
and we need to get this resolved.
---------------------- Forwarded by Rhonda L Denton/HOU/ECT on 04/18/2001
09:49 AM ---------------------------

"Mark Meyer" <MMEYER@wapa.gov> on 04/18/2001 09:47:53 AM
To: <Rhonda.L.Denton@enron.com>
cc: <TMEEKS@wapa.gov>
Subject: Re: Western Area Power Administration

These offices are members:

WAPA-Colorado River Storage Project Manangement Center (CRSP)  (This office
is in Salt Lake City and was formerly known as Salt Lake City Area or Upper
Colorado)

WAPA-Desert Southwest Region (This office is in Phoenix and was formerly know
as Phoenix Area, or Lower Colorado)

WAPA-Rocky Mountain Region  (This office is in Loveland, Colorado and was
formerly known as Loveland Area, Loveland-Fort Collins Area, and Lower
Missouri)

WAPA-Upper Great Plains Region (This office is in Billings, MT, and was
formerly known as Billings Area, Upper Missouri, and Pick-Sloan Missouri)

You can find information about all these offices at our website:  www.wapa.gov

Thanks,   Mark Meyer

>>> <Rhonda.L.Denton@enron.com> 04/17 4:14 PM >>>
I work for Enron and am trying to determine (1) which of your offices are
members of the Western Systems Power Pool and (2) what the current names
are for your entitites.  I need the full legal name for each.  Below is a
list of the names I have in my database of names.  Can you please confirm
if these are current and/or if any names have been changed.  The WSPP
Administrator sent me the attachment, which indicates the Phoenix office
houses "Lower Colorado".  I'm not sure if this is accurate.  Thank you very
much for your help.

WAPA-Salt Lake City
WAPA-Desert Southwest Region
WAPA-Lower Missouri
WAPA-Pick-Sloan Missouri
WAPA-Rocky Mountain
WAPA-Sierra Nevada Region
WAPA-Upper Great Plain
WAPA-Billings Area
WAPA-Phoenix Area

Rhonda Denton
Contracts Administration
713/853-5871
713/646-2443 (FAX)

---------------------- Forwarded by Rhonda L Denton/HOU/ECT on 04/17/2001
05:07 PM ---------------------------

"Rachel Small" <rsmall@wspp.org> on 04/17/2001 04:55:37 PM

To:   <Rhonda.L.Denton@enron.com>
cc:
Subject:  Re: Western Area Power Administration

Hello Rhonda,

I am attaching a Word document with all the WSPP member contacts for
"Western Area Power Administration(s)" - hopefully one of them is the one
you are looking for - if not, please let me know and I will try to find
out!

Rachel Strauss Small
Web Development Team

(703) 288-0859 (fax)

----- Original Message -----
From: <Rhonda.L.Denton@enron.com>
To: <admin@wspp.org>
Sent: Tuesday, April 17, 2001 3:05 PM
Subject: Western Area Power Administration

> Can you please tell me if WAPA- Desert Southwest Region is a member of
the
> WSPP?  This is their Phoenix office and I thought they had been a member
of
> the WSPP under the name "Western Area Power Administration-Phoenix Area
> Office."  Thanks for the info.
>
>

(See attached file: Western Adm Contacts.doc)


The compliance department for DB Alex Brown has rejected our comments to the
Prime Brokerage Agreement.  Jason, since the file is in your possession, I
left word with the compliance officer, Terry Finn, to contact you so that
their concerns could be addressed.   Terry's phone number is (410) 895-3602.

Today conversations will be logged in Lotus Notes.  In the interim,  please
let me know if there is anything else you guys want me to do on this issue.

Samantha M. Boyd
Sr. Legal Specialist
Enron North America, Corp.
1400 Smith, EB3802A
Houston, TX  77002
Phone:  (713) 853-9188
Fax:  (713) 646-3490
email:  samantha.boyd@enron.com


Please see the attached file for the latest information on the showstopper
reports.


We will be serving physical in CG&E territory beginning in Feb. 2002 (this was jut pushed back from Dec. 2001).  Origination will begin preselling beginning this week.  Therefore, on the Disclosure Label, which we would present to customers along with contracts between now and Feb., are we ok with stating "Unknown Purchases" and then change that once we're not buying on the spot market?

Thanks

From:	Richard Ring/ENRON@enronXgate on 10/22/2001 03:50 PM
To:	Heather Mathis/HOU/EES@EES, Nicole Schwartz/HOU/EES@EES
cc:	Stacey Bolton/ENRON@enronXgate
Subject:	RE: Ohio Label

Heather,

To the best of my knowledge the only customers in Ohio where physical delivery "CURRENTLY" takes place is First Energy (MSG PRODUCT ONLY) and the First Energy utilities should be directly providing the Disclosure Labels or provide load serving entities with the information necessary to complete the Disclosure Labels.  Physical delivery of power, other than MSG PRODUCT, may occur between November 2001 and March 2002; in either event Disclosure Labels need to be submitted to customers with the initial contracts and not again until immediately prior to physical delivery of power.

In all likelihood, spot purchases of power, rather than specific purchases of power, will occur therefore the Disclosure Label "can only" contain Unknown Purchases, as described by Stacey Bolton.

Heather, I think that the three of us (you, Stacey and myself) need to discuss proper procedures regarding Disclosure Labels.

Richard

 -----Original Message-----
From: 	Mathis, Heather
Sent:	Monday, October 22, 2001 1:28 PM
To:	Schwartz, Nicole; Ring, Richard
Cc:	Bolton, Stacey
Subject:	RE: Ohio Label

Richard et al:
I'm not sure what needs to be done - Nicole says we're doing a physical product in CG&E.  I will forward her message to me to all of you.  Richard & Stacy - please work together to figure out what needs to be done, if anything to the fuel mix part.

Thanks.

Heather
---------------------- Forwarded by Heather Mathis/HOU/EES on 10/22/2001 01:24 PM ---------------------------
From:	Richard Ring/ENRON@enronXgate on 10/18/2001 01:31 PM
To:	Heather Mathis/HOU/EES@EES
cc:	Stacey Bolton/ENRON@enronXgate
Subject:	RE: Ohio Label

Heather,

We are not delivering any power, other than Market Support Generation (MSG), which is provided by the First Energy utility companies.  It should either be the utilities that provide disclosure label information for our label we have to default to "Unknown Purchases" or whatever else is allowed/required by the Ohio PUC's.

Richard

 -----Original Message-----
From: 	Mathis, Heather
Sent:	Tuesday, October 16, 2001 1:31 PM
To:	Ring, Richard
Subject:	Ohio Label

Richard:

We need to start sending our Ohio label with the contract to new Ohio customers (CG&E starting in Dec according to Nicole Schwartz).  I've had Sandy Cofer look over this one that was done by Allison way back when to see if it still meets requirements, and it does.  Can you confirm the fuel mixes, etc. for me?

Thanks.

Heather

 << File: CSP-6.01.xls >>


---------------------- Forwarded by Robert Badeer/HOU/ECT on 06/27/2000 06:26
PM ---------------------------

Susan J Mara@EES
06/27/2000 11:05 AM
To: Jeff Dasovich/SFO/EES@EES, Mona L Petrochko/SFO/EES@EES, Sandra
McCubbin/SFO/EES@EES, Robert Badeer/HOU/ECT@ECT, Tim Belden/HOU/ECT@ECT,
Richard Shapiro/HOU/EES@EES, Paul Kaufman/PDX/ECT@ECT
cc:
Subject: Proposal to Lower ISO Price Cap

---------------------- Forwarded by Susan J Mara/SFO/EES on 06/27/2000 01:00
PM ---------------------------

GTBL@dynegy.com on 06/26/2000 09:10:22 PM
To: "William Hall" <wfhall2@duke-energy.com>, "Trond Aschehoug"
<taschehoug@thermoecotek.com>, "Tim Loposer" <tim.loposer@williams.com>, "Sue
Mara" <smara@enron.com>, "Steve Ponder" <steve_ponder@fpl.com>, "Roger
Pelote" <roger.pelote@williams.com>, "Rob Lamkin"
<rllamkin@seiworldwide.com>, "Randy Hickok" <rjhickok@duke-energy.com>,
"Marty McFadden" <mcfaddenjr@aol.com>, LALE@dynegy.com, "Kent Fickett"
<kfickett@usgen.com>, "Jonathan Weisgall" <jweisgall@aol.com>, "John Stout"
<John_H_Stout@reliantenergy.com>, "Joe Ronan" <joer@calpine.com>, "Joe Greco"
<joe.greco@uaecorp.com>, "Jim Willey" <jwilley@conpwr.com>, "JAnet
Heck-Doyle" <jheckdoyle@aol.com>, "Jack Pigott" <jackp@calpine.com>, "Hap
Boyd" <rboyd@enron.com>, GTBL@dynegy.com, "Frank DeRosa"
<frank.derosa@gen.pge.com>, "Eileen Koch" <eileenk@calpine.com>, "Ed Tomeo"
<ed.tomeo@uaecorp.com>, "Duane Nelsen" <dnelsen@gwfpower.com>, "Dennis
Elliott" <delliott@energy.twc.com>, "Dave Parquet" <dparque@ect.enron.com>,
"Curtis Kebler" <curtis_l_kebler@reliantenergy.com>, "Cody Carter"
<cody.carter@williams.com>, "Carolyn A Baker" <cabaker@duke-energy.com>, "Bob
Escalante" <rescalante@riobravo-gm.com>, "Bob Ellery" <bellery@spi-ind.com>,
"Bill Woods" <billw@calpine.com>, "Bill Carlson"
<william_carlson@wastemanagement.com>, "Dean Gosselin" <dean_gosselin@fpl.com>
cc:
Subject: Proposal to Lower ISO Price Cap

FYI
---------------------- Forwarded by Gregory T Blue/NGCCorp on 06/26/2000 07:05
PM ---------------------------

Gregory T Blue
06/26/2000 09:02 PM

To:   104525.3473@compuserve.com, aanoli@ladwp.com, Barbara Barkovich
      <brbarkovich@earthlink.net>, bcarnahan@scppa.org, Camden Collins
      <camden.collins@gte.net>, Carolyn Kehrein <cmkehrein@ems-ca.com>, Dan
      Kirshner <dank@edf.org>, dferrei@smud.org, dnix@energy.state.ca.us,
      Douglas Long <dug@cpuc.ca.gov>, dparque@ect.enron.com, dxh4@pge.com,
Eric
      Woychik <estrategy@mindspring.com>, fieldejr@sce.com, gcotton@sdge.com,
      Gregory T Blue/NGCCorp@NGCCorp, jmcguire@siliconvalleypower.com,
      kbjoha@aol.com, Marcie Edwards <medwar@ladwp.com>, Mike Florio
      <mflorio@turn.org>, Paul Arnold <pfarnold@bpa.gov>, pspan18988@aol.com,
      rachel@cleanpower.org, slk@water.ca.gov, smutny@iepa.com, Stacey Kusters
      <stacey.kusters@powerex.com>, Stacy Roscoe <roscoesa@pg.com>, Terry
Winter
      <TWinter@caiso.com>, timothydanielhay@aol.com, toenyes@wapa.gov,
      wiseco@pacbell.net
cc:   Charlie Robinson <CRobinson@caiso.com>, Dennis Fishback
      <DFishback@caiso.com>, Elena Schmid <ESchmid@caiso.com>, Kellan
Fluckiger
      <KFluckiger@caiso.com>

Subject:  Proposal to Lower ISO Price Cap

ISO Board Members,
     For your consideration please find attached my executive summary and
detailed letter regarding this subject.  I look foward to the discussion.
Greg Blue

(See attached file: EXECUTIVE SUMMARY.doc)(See attached file: Fellow Board
Members.doc)

 - EXECUTIVE SUMMARY.doc
 - Fellow Board Members.doc


FYI.  New amendments out on DA that Keeley's accepted that I'm faxing to you
right now.  Also, it's 82XX we're talking about, not 83XX.  83XX is the bill
that Wright's authoring with the Rs.

Also faxing to you Reliant's "Dear Dunn, Go to Hell, Sincerely, Reliant"
letter.

Best,
Jeff

Vegas still sez best odds are on Edison going in.

	James D Steffes
	07/18/2001 03:48 PM

		 To: David W Delainey/HOU/EES@EES, Janet R Dietrich/HOU/EES@EES, Jeremy
Blachman/HOU/EES@EES, Vicki Sharp/HOU/EES@EES, Marty Sunde/HOU/EES@EES, Dan
Leff/HOU/EES@EES, Evan Hughes/HOU/EES@EES, Tim Belden/Enron@EnronXGate, Don
Black/HOU/EES@EES, Jeff Richter/Enron@EnronXGate
		 cc: Jeff Dasovich/NA/Enron@Enron, Harry Kingerski/Enron@EnronXGate, Richard
Shapiro/NA/Enron@Enron
		 Subject: Potential Legislative Suspension of DA in California

The games continue in California.

The date of suspension now being considered in 83xx is July 12.  We are still
working (1) to define this in a way that is favorable to getting our recent
DASR group authorized for DA service or (2) supporting some other solution.

Will keep everyone informed as information comes in.

By the way, I've asked Evan Hughes for a detailed listing of how moving the
date impacts our success ratio.

Jim

---------------------- Forwarded by James D Steffes/NA/Enron on 07/18/2001
03:43 PM ---------------------------
From: Harry Kingerski/ENRON@enronXgate on 07/18/2001 11:47 AM
To: Kevin Keeney/HOU/EES@EES, Vicki Sharp/HOU/EES@EES, Marty
Sunde/HOU/EES@EES, Bert Frazier/ENRON@enronXgate, Lamar Frazier/HOU/EES@EES,
Don Black/HOU/EES@EES, James W Lewis/HOU/EES@EES, Dennis Benevides/HOU/EES@EES
cc: James D Steffes/NA/Enron@Enron

Subject: FW: California Update--0717.01

Both 82XX and 83XX are to be discussed in committee today.  Significantly, an
amendment that is expected to be included in 82XX would establish July 12 as
the start date for when the PUC may not authorize any new or replacement
direct transactions.

By contrast, 83XX directs the commission to authorize direct transactions on
an open enrollment basis not less than 2 times each year, conicident with the
expiration of DWR purchases.

Nothing more yet from the CPUC on its intended action.

 -----Original Message-----
From:  Dasovich, Jeff
Sent: Tuesday, July 17, 2001 7:31 PM
To: skean@enron.com; Shapiro, Richard; Steffes, James; Mara, Susan;
Kingerski, Harry; Lawner, Leslie; Tribolet, Michael; Walsh, Kristin; Denne,
Karen; mpalmer@enron.com; Guerrero, Janel; Kaufman, Paul; Susan M
Landwehr/Enron@EnronXGate; Robertson, Linda
Subject: California Update--0717.01

What people know:

Hertzberg (et al's) bill (82XX)was heard in an "informational" hearing today
and still sits in the Assembly Energy Committee.  It will be heard again
tomorrow (perhaps beginning at 10 AM) , at which time parties will have a
chance to support/oppose and ask for amendments.  Most, including us, oppose
unless significantly amended.
The Wright (D) -Richman (R) bill (83XX)was heard in an "informational"
hearing today and still sits in the Assembly Energy Committee.  It will be
heard again tomorrow, at which time parties will have a chance to
support/oppose and ask for amendments.  From our perspective, this is the
best bill out there yet, though it still has serious problems---it isn't
available electronically yet, but should be tomorrow, and I'll distribute
then.  The chances of the joint D-R bill being successful are slim, however,
since it's up against the Speakers competing bill.  There is talk that the
Speaker will try to negotiate with Wright/Richman tonight and include any
agreement in his bill (82XX).
The original version of the Governor's MOU bill sits in the Senate.  Most
believe that Burton will put it up for a vote this week and it will fail.
The Senate's version of the MOU (Sher-Peace-Kuehl) (78XX)came out today.  It
will likely be heard in the committee tomorrow or the next day.  Notably, it
kills Direct Access completely and makes Edison shareholders responsible for
that portion of Edison's debt owed to suppliers.  In short, a very bad bill.
Burton's 18XX, which would de-link the bond issuance (to pay back the General
Fund) from the DWR contracts is likely to pass the Senate tomorrow or the
next day.  Many--including Enron--support the bill (though we are supporting
it behind the scenes).

What people don't know:
Whether there's the time or the will in the Assembly and Senate to achieve by
Friday a single, comprehensive bill that can be sent to the governor for his
signature.
Whether the Legislature would postpone its month-long recess if the
Legislature hasn't finished a bill by Friday (most folks think they will not
postpone).
Whether it's true that, irrespective of the energy issue, the Legislature
will fail to get the budget completed by Friday and therefore have to
postpone their recess anyway, in which case they might continue to work on
the energy legislation at the same time.

Odds-makers still say it's better than 50-50 that the Legislature does not
get the Edison bills done by Friday and leaves on on its 30-day vacation.

Best,
Jeff

Sacramento is one goofy place.


Dear all,

I will be in the Houston office from Monday 10th July through Wednesday 19th
July and stopping in NY on the return leg to meet staff at MG Metals NY on
Thursday 20th July at the suggestion of Lloyd Fleming who is co-ordinationg
the RAC activities for the integration of MG metals.  I will probably take a
day of leave on Friday 21st which would mean that I will be back in the
London office on Monday 24th July.

Regards,

Anjam

P.S. As usual I will be contactable on my cellular: (07747) 868131 or through
Lotus Notes.


Debra and Dan -

Attached is a worksheet for another new physical, with the City of Anaheim.
Please send a draft to:

Mr. Steve Shortino
City of Anaheim
201 S. Anaheim Blvd.
Suite 802
Anaheim, CA 92805

Please email a copy to me and to Kim Ward.

Thanks,

Jay


Attached are the latest changes to the docs redlined against the originals
docs, per your voicemail.

Chris,  I made one slight change from the versions I had sent to you
earlier.  In the Capacity Allocation agreement signature block, I am now
having ENA sign for section 4.5 as well.

 Let me know if you need anything else.


Date:  Monday, April 30
Time:  10:30 - 11:30 AM
Location: EB 3270
Subject: Review game plan for elimination of confirmations and impact on
CommodyLogic

Attendees: Sally Beck
  Andy Zipper
  Jay Webb
  Tom Gros
  Mark Taylor
  Jeff Hodge
  Elizabeth Sager
  Leslie Reeves

Assistants:

Please let me know if there is a conflict for this time slot.

Thanks!
Patti x39106


14:10:15 Synchronizing Mailbox 'Perlingiere, Debra'
14:10:15 Synchronizing Hierarchy
14:10:16 Synchronizing Favorites
14:10:16 Synchronizing Folder 'Inbox'
14:10:18 	   4 item(s) added to offline folder
14:10:18 	   1 item(s) deleted in offline folder
14:10:18 Synchronizing Folder 'Outbox'
14:10:18 Synchronizing Folder 'Sent Items'
14:10:19 	   5 item(s) added to offline folder
14:10:19 Synchronizing Folder 'Calendar'
14:10:20 	   1 item(s) updated in offline folder
14:10:20 Synchronizing Folder 'Contacts'
14:10:20 Synchronizing Folder 'Drafts'
14:10:20 Synchronizing Folder 'Journal'
14:10:20 Synchronizing Folder 'Notes'
14:10:20 Synchronizing Folder 'Tasks'
14:10:20 Synchronizing Folder 'Deleted Items'
14:10:21 	   3 item(s) added to offline folder
14:10:21 Synchronizing Views
14:10:21 Synchronizing Forms
14:10:21 Done


Attached is a updated memo about transition issues.

This is not a all inclusive memo but a starting point.

Please sent comments to me and I will update and redistribute.

thanks

bob


We are approaching February 29, 2000, which is generally regarded as the
second most critical Year 2000 rollover date, second only to the millennium
rollover.  A year divisible by 100 is not a leap year, unless it is divisible
by 400.  As a consequence, some applications that were programmed incorrectly
will believe the date is March 1, which may cause system errors.

During the millennium rollover Enron encountered Y2K related issues only with
the bottom tier of applications and embedded systems that were ranked as
"ordinary" or "low" in our triage processes.  The problems that did arise
were few and were quickly fixed.  This is exactly what we were planning for
and is a testament to a job done exceptionally well by all.

In consideration of the few and minor problems Enron encountered on January
1, 2000, our procedures for the 29th will be curtailed.  The goals for this
period are to validate that all mission critical applications and embedded
systems are functioning normally and to ensure that all problems are reported
through the project office.  We are not planning to reopen the Millennium
Management Center nor do we plan to operate outside of normal business hours.

Please ensure that each group that reported to you for the millennium
rollover run through the same Y2K checklists for critical systems.  For this
exercise, however, we anticipate them reporting back to you on an exception
basis only.

If problems do occur, the nature, details and planned ready dates should be
forwarded to Andrew Parsons (713 853-6665) or Bob Johansen (713 853-6842),
who will report to management and monitor events.  Also, be sure to route any
inquiries from the press through the same public relations contacts that were
used on January 1st.  The key contact at Corp Public Relations is Karen Denne
(713 853-9757).

Thank you for your cooperation,

Andrew
713 853-6665


For your reading pleasure...

----- Forwarded by Sue Nord/NA/Enron on 11/01/2000 01:16 PM -----

	Jeremy Meier <jermeier@earthlink.net>
	10/29/2000 02:45 PM

		 To: SNord@enron.com
		 cc: Robbi_Rossi@enron.net
		 Subject: Collocation Decision(s) discussed 10/27

Sue:

Attached please find the DC Circuit's federal decision remanding certain
FCC physical collocation rules back to the FCC for reconsideration.
This is the Federal Court of Appeals "advanced services" case Steve
Bowen was discussing on the conference call last Friday re EBS.

The DC Circuit reviewed the FCC's Advanced Services First Report and
Order and affirmed certain aspects of collo (eg cageless, central office
and adjacent collo, and cost recovery).  The Court, however, remanded
back to the FCC its rules on physical collocation and cage-to-cage cross
connections (as Steve mentioned).  Correct me if I am mistaken, but
apparently EBS/ETI is now facing the hurdle of these uncertain collo
rules in the field.

The FCC has recently reopened the Advanced Services Report and Order per
the DC Cir, has initiated a new proceeding at the FCC (Order on
Reconsideration and Second Further Notice of Proposed Rulemaking in CC
Docket No. 98-147 and Fifth Further Notice of Proposed Rulemaking in CC
Docket No. 96-98).  Comments at the FCC were filed last month and Reply
Comments on these advanced services collo rules are due in November.

We can send you a (lengthy) copy of the FCC Advanced Services remand
Order on Reconsideration too if you want.  Let me know if you have
questions,

Jeremy Meier
Blumenfeld & Cohen
4 Embarcadero Center, Suite 1170
San Francisco, CA 94111
415 394-7500
jermeier@earthlink.net

 - advanced services case.doc