The State Davis' Energy Advisors Draw SEC Attention Probe: Under review is
the possible use of inside information to buy power company stocks. GOP rival
of governor requested the inquiry.
Los Angeles Times, 07/31/01
Davis' top spokesman bought stock in power firm / Adviser denies conflict of
interest
The San Francisco Chronicle, 07/31/01

Davis press secretary confirms buying energy company stock
Associated Press Newswires, 07/31/01

India's Power Boards Lose $5 Bln as Subsidies Rise, Paper Says
Bloomberg, 07/31/01

India To Evaluate Options On Enron Stake Buy Out Offer
Dow Jones International News, 07/31/01

INDIA PRESS:Govt Asks Lenders To Bail Out Dabhol Pwr Proj
Dow Jones Asian Equities Report, 07/31/01

Report: Indian government orders financial institutions to save Dabhol power
project, as Enron wants to pull out
Associated Press Newswires, 07/31/01

FIs asked to work out deal for Dabhol completion
The Economic Times, 07/31/01

Houston-Area Firms Brace for Onslaught by Code Red Computer Worm
KRTBN Knight-Ridder Tribune Business News: Houston Chronicle - Texas, 07/31/01

Calif Gov Spokesman Says He Bought Calpine Stock In June
Dow Jones Energy Service, 07/30/01

Functioning In The Bandwidth Market No One Expected
Dow Jones Energy Service, 07/30/01

INDIA: India evaluating Enron's offer to quit Dabhol.
Reuters English News Service, 07/30/01

California Governor's Spokesman Says He Bought Calpine Stock
Bloomberg, 07/30/01

California; Metro Desk
The State Davis' Energy Advisors Draw SEC Attention Probe: Under review is
the possible use of inside information to buy power company stocks. GOP rival
of governor requested the inquiry.
WALTER HAMILTON JEFFERY L. RABIN; DARYL KELLEY
TIMES STAFF WRITERS

07/31/2001
Los Angeles Times
Home Edition
B-1
Copyright 2001 / The Times Mirror Company

The Securities and Exchange Commission has launched a preliminary inquiry
into whether energy consultants advising Gov. Gray Davis used inside
information to trade stocks of power companies doing business with the state,
a source with knowledge of the matter said Monday.
The federal agency began its review late last week, the source said, in
response to a request from California Secretary of State Bill Jones. A
Republican rival of Davis, Jones charged that stock trading by consultants
may have violated federal laws barring buying and selling based on
information not available to the public.
On Friday, top aides to the governor disclosed that five consultants had been
fired for possible conflicts of interest between their official positions and
their personal finances.
As news of the SEC inquiry spread through the capital Monday, Davis officials
were confronted by a flurry of questions about who in the administration owns
energy stocks.
Financial disclosure records filed by the governor's spokesman, Steve
Maviglio, show that he owns between $10,000 and $100,000 in a Texas company
he and his boss have accused of making "obscene" profits while California has
been "on its knees." Maviglio said he bought the shares in Houston-based
Enron Corp. in 1996.
"It's not a crime to own energy stock," Maviglio said.
He also owns 300 shares of San Jose-based Calpine Corp., which has the
largest share of the $43 billion in long-term state power contracts.
Maviglio placed the order for the stock on May 31, one day after San Jose's
mayor dropped his opposition to a controversial Calpine plant favored by the
governor and others. Under the terms of Maviglio's purchase, the transaction
was completed about three weeks later when the stock reached $40 a share, a
value of $12,000. It has since fallen in value.
"I viewed it as a good long-term investment," Maviglio said, adding that he
purchased the shares for his retirement account based on publicly available
information.
The Davis administration has spared Calpine the kind of fierce criticisms
that it has leveled at other electricity suppliers, such as Enron. But
California's grid operator has identified the company as one of many energy
merchants to overcharge the state millions of dollars.
The fired consultants also owned shares in Calpine, ranging in value from
several thousand dollars to more than $100,000, records show.
Another top Davis administration official, legal affairs secretary Barry
Goode, disclosed in his economic interest statement that he recently held
between $100,000 and $1 million in another out-of-state company accused of
multimillion-dollar price gouging.
In a statement, Goode said he sold his stock in Williams Co's. a month after
he began working for the governor in February. Goode said the shares were
supposed to be sold before he went on the state payroll, but his broker
failed to do so.
In light of the recent disclosures, Secretary of State Jones said the
governor must do more to ensure the public that its interest comes first.
"The governor should direct all of his staff to immediately file updated
conflict of interest statements that reflect current holdings and any
activity since their last statement of economic interest was filed," said
Jones, who is seeking the GOP nomination for governor.
Word of the SEC's entry into California's energy problems comes as the
governor faces harsh criticism from lawmakers and others for the quick and
broad hiring of highly paid private consultants to guide him through the
crisis.
In his written request to the SEC, Jones said that recently filed disclosure
documents showed that at least one consultant bought and sold shares of two
energy companies within the same month, raising "a red flag" about the
possibility of insider trading.
State law prohibits officials from participating in decisions involving their
personal financial interests.
The five consultants fired last week were among 11 named in Jones' letter,
delivered to the San Francisco office of the SEC last Wednesday. It was not
clear which individuals are the focus of the SEC's inquiry, or whether the
agency's review would result in any charges.
Two of the former traders said Monday that they had not been contacted by
federal investigators and knew nothing of an inquiry into possible insider
trading.
But William Mead, fired Thursday, said it is no mystery why so many of his
colleagues owned Calpine stock.
Mead said he bought it 2 1/2 years ago and made so much money he recommended
it to his colleagues last year, while they all still worked for the
now-defunct California Power Exchange in Alhambra. Calpine power was not
traded on that exchange, so there was no conflict of interest, he said.
Mead and three other energy traders--hired by the state in February and
March--were terminated by the Davis administration for allegedly buying power
for the state from Calpine while owning the company's stock. Fired traders
Herman Leung, Peggy Cheng and Constantine Louie did not list the date of
their Calpine purchases on financial statements that the state required to be
filed only two weeks ago.
"But I'm sure they bought it while they were still at the power exchange,
because that's when we discussed it," Mead said. "It was kind of like a
hobby. I'm sure it wasn't done with the intent to manipulate."
Former trader Elaine Griffin, who also owned Calpine stock and resigned two
weeks ago to take another job, said she didn't know she owned energy
securities until she checked with her financial advisor July 13, just before
leaving her state job.
Griffin said she and her husband own about $10,000 worth of Calpine stock in
individual retirement accounts managed by their advisor, who bought the stock
Feb. 1 without their knowledge, she said, after research found it to be a
good investment.
"I kind of feel like we've been used for political reasons," Griffin said.
"We would have disclosed anything right at first, but they never asked."
As a trader, Griffin said she occasionally bought Calpine power for the
state, but only at market prices.
Meanwhile, two Democratic political consultants, who helped Davis polish his
image after the ongoing energy crisis caused his poll numbers to plummet,
have agreed to accept no payment for their work as part of an out-of-court
settlement of a taxpayer lawsuit.
Tom Hiltachk, a lawyer for conservative anti-tax activist Lewis Uhler, said
the settlement was reached last Friday after negotiations with lawyers for
communications consultants Mark Fabiani and Chris Lehane.
"Now they will not receive one red cent," said Hiltachk. "Very simply Mr.
Fabiani and Mr. Lehane have agreed to cease all activities for the governor,
to accept no payments for their services and to basically get out of the
consulting business with the governor."
As his part of the agreement, Hiltachk said, Uhler withdrew his lawsuit
Monday morning.
Uhler had filed a lawsuit against the two consultants and Controller Kathleen
Connell in June contending that they should not receive any payments because
of a conflict of interest. The two men also did consulting work for
financially troubled Southern California Edison, which was seeking help from
Davis and the Legislature.
Connell, a former Los Angeles mayoral candidate who has been at odds with
Davis since he endorsed an opponent, had held up the payments pending the
outcome of the lawsuit.
Under an agreement with Davis, the men were to have been paid $30,000 a month
for six months.
Fabiani and Lehane could not be reached for comment.
*
Times staff writers Nancy Vogel and Virginia Ellis in Sacramento and Robert
J. Lopez in Los Angeles contributed to this story.

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

NEWS
Davis' top spokesman bought stock in power firm / Adviser denies conflict of
interest
Lynda Gledhill
Chronicle Sacramento Bureau

07/31/2001
The San Francisco Chronicle
FINAL
A.1
(Copyright 2001)

Already on the defensive over its energy advisers' financial holdings, Gov.
Gray Davis' administration came under fresh attack yesterday when his chief
spokesman admitted buying $12,000 worth of Calpine Corp. stock last month.
Steve Maviglio, Davis' acting director of communications, denied that his
purchase of the San Jose energy company's stock constituted a conflict of
interest. He said he would sell the stock if Davis or administration lawyers
asked him to.
"I invested in a growing California company," Maviglio said. "It's sad when
somebody tries to link owning energy stock with a conflict of interest."
The revelation came the same day that two high-priced consultants Davis
brought in earlier this year to help sell his energy policies to the public
agreed not to take any money for the work they have done. Davis was
criticized for hiring the two, partly because they had also worked as
consultants for Southern California Edison.
On Friday, Davis fired five energy advisers for possible conflict-
of-interest problems after they helped negotiate state spot-market purchases
or long-term power contracts. Four of the five owned stock in Calpine, and
the fifth held Enron shares.
ON THE DEFENSIVE
Maviglio, who had the task of explaining the firings, was on the defensive
himself yesterday.
He bought the Calpine stock in June after asking his broker to invest in it
when shares hit a certain price, he said. He said that showed he had made his
decision independently of whatever action he might have taken in the
governor's office on any particular day.
Calpine's stock has dropped some in the past month. As of yesterday, the 300
shares that Maviglio bought for $12,000 were worth about $11,100.
Maviglio said he had spoken out against Calpine as much as other energy
companies. He also owns Enron stock that he bought in February 1996 and has
disclosed on all forms, he added.
"I've called them pirates and gougers and lumped them in with all the rest of
the generators," Maviglio said.
Secretary of State Bill Jones, an announced GOP opponent of Davis for
governor in 2002, said Maviglio should be fired.
"These actions are unethical and unacceptable," said Jones, who called on the
governor's staff to release updated conflict-of- interest statements. "He had
the power to promote Calpine through press releases. That seems to me to be a
clear conflict of interest."
Calpine sold the state $14 million worth of power earlier this year and has a
large share of the $43 billion in long-term contracts for electricity that
the state has entered into.
Earlier this month, when he threw the ceremonial switch on a new Calpine
plant in Pittsburg, Davis singled out the company as being more cooperative
with California than out-of-state suppliers that the governor has
characterized as gougers.
IMAGE-POLISHING
The Davis administration tried to put another energy-related controversy
behind it yesterday as the two consultants brought in by the governor to
burnish his image agreed to forgo more than $50,000 in work they did for the
state.
Chris Lehane and Mark Fabiani will receive no compensation and will leave the
Davis administration immediately, under a settlement in a lawsuit filed on
behalf of a national taxpayer rights group.
Lehane and Fabiani -- nicknamed the "Masters of Disaster" for their work in
getting former President Bill Clinton out of political jams -- started in the
governor's office in May and were originally supposed to be paid $30,000 a
month.
It was later revealed that they had also worked as consultants for Southern
California Edison, which is trying to swing a deal with the state to avoid
bankruptcy. State Controller Kathleen Connell said she would not pay the two.
"It really raises the question in my mind, what is it about
conflict-of-interest and other ethical rules that the governor's office
doesn't understand?" said Lewis Uhler, president of the National Tax
Limitation Committee, which filed the lawsuit.
In June, Davis said Fabiani was no longer a communications consultant because
his work had been "successfully implemented." Lehane, on the other hand,
dropped his contract with Edison and signed a new agreement with Davis.
Lehane's new contract required him to work a maximum of 66 hours a month at
$150 an hour. His payments were to be capped at $76,000 for work from June 26
to Nov. 20, 2001.
'OUTRAGEOUS EXPENSE'
"This was an outrageous expense to taxpayers," Uhler said. "I believe there
was a clear violation of conflict-of-interest laws."
The consultants decided it was not worth the legal fees to fight the lawsuit,
Maviglio said. The two could not be reached for comment.
"It's shameful when people have to surrender their jobs in public service
because of a lawsuit," Maviglio said.
Jones, who filed a complaint with the Fair Political Practices Commission
concerning the two consultants, said, "I think it's clear from recent actions
by the governor's office that there have been rampant violations of the
state's conflict-of-interest laws. Their attempts to mitigate the damage from
these violations is too little, too late."
Jones said Davis should immediately require all of the consultants hired
during the energy crisis to file financial statements. There are 21 advisers
involved in power purchasing whom Davis has exempted, he said.
All the contractors who are required to file reports have done so, said
Maviglio.
In a related development, the Los Angeles Times quoted a source as saying the
Securities and Exchange Commission has launched a preliminary inquiry into
whether energy consultants advising Davis used inside information to trade
stocks of power companies doing business with the state.
The federal agency began its review late last week, the source said, in
response to a request from Jones.

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

Davis press secretary confirms buying energy company stock
By ALEXA HAUSSLER
Associated Press Writer

07/31/2001
Associated Press Newswires
Copyright 2001. The Associated Press. All Rights Reserved.

SACRAMENTO, Calif. (AP) - Gov. Gray Davis' press secretary recently purchased
the same energy stock as five consultants the governor fired last week, he
disclosed Monday.
Steve Maviglio confirmed that on June 20, he bought 300 shares of stock in
Calpine Corp., a San Jose-based power generator that has received about $13
billion in state contracts to supply electricity for up to 20 years.
Maviglio's disclosure comes after Davis' office hastily ended the contracts
of five consultants who helped negotiate state power contracts and held stock
in energy companies.
In a related development, an anonymous source told the Los Angeles Times on
Monday that the Securities and Exchange Commission has launched a preliminary
inquiry into whether the consultants used inside information to trade the
energy stocks.
About two dozen Davis energy consultants were required to fill out financial
disclosure statements after complaints of conflict of interest by Republicans
and consumer groups.
"When we reviewed them, we found possible violations of the law and took
swift action," Maviglio said Monday before Secretary of State Bill Jones
issued a press release calling for his termination.
Jones, a Republican, is a candidate for the GOP nomination to challenge Davis
in November 2002.
Maviglio defended his purchase, saying that he "owns several stocks in
companies in all fields that are growing and are based in California."
Maviglio said Monday that he requested on May 31 to purchase the stock if it
dipped to $40 a share, which it did two days after a June 18 ruling by
federal energy regulators restricting wholesale electricity prices in
California and 10 other states.
Maviglio served as Davis' chief spokesman urging the Federal Energy
Regulatory Commission to impose price ceilings on electricity wholesalers.
He also said he owns between $10,000 and $100,000 stock in Houston-based
Enron Corp. He said he purchased the stock in 1997 and has reported it on
financial disclosure forms. He said that it is "closer to $10,000."
Meanwhile, two energy consultants to Davis have agreed to forgo more than
$50,000 in work they did for the state.
Chris Lehane and Mark Fabiani will forgo the payments as part of a settlement
with a Sacramento-area resident who filed a lawsuit objecting to their
hiring, calling it a conflict of interest.
Fabiani could not be reached for comment Monday. In the settlement, they
admitted no wrongdoing.
Lehane issued a statement through the governor's office, calling it "simply
not worth the bother to challenge the controller in court."
Davis has come under fire for his May hiring of Lehane, former press
secretary for Vice President Al Gore, and Fabiani, a deputy campaign manager
for Gore's presidential run.
They were hired to help shape Davis' response to the energy crisis, and
helped craft Davis' aggressive attack on Texas-based energy companies and
President Bush.
Both also have advised Southern California Edison, which is negotiating for
state help in avoiding bankruptcy. Financial disclosure forms showed they
have each received at least $10,000 from Edison in the past year.
Davis announced at the end of June that Fabiani terminated his contract, and
Davis scaled back Lehane's role with the state.
State Controller Kathleen Connell then said she would not pay Lehane and
Fabiani for any of their work and now the two have agreed they will not fight
her decision, Maviglio said.
Lewis K. Uhler, the Placer County man who filed the lawsuit, said the
settlement "accomplished our objectives."
"We wanted to block the egregious use of taxpayer funds for essentially
political spinmeisters," he said. Uhler is president of the Roseville-based
National Tax Limitation Committee.
Maviglio said that Fabiani and Lehane "did good work for the state" and
helped the state win victories with federal regulators.

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

India's Power Boards Lose $5 Bln as Subsidies Rise, Paper Says
2001-07-31 01:53 (New York)

     New Delhi, July 31 (Bloomberg) -- India's state
electricity boards that distribute power lost 260 billion
rupees ($5.5 billion) in the year ended March because of rising
subsidies and electricity thefts, the Business Standard
reported, citing government figures.
     Power subsidies, mainly to farmers, rose 12 percent to
370.37 billion rupees last year and made up for half the
average tariff of 2.12 rupees a kilowatt-hour. Subsidies have
risen 83 percent since 1997.
     Power costs have risen 41 percent the past three years to
3.03 rupees a kilowatt-hour though the growth in tariffs has
been lower at 28 percent, leading to losses, the paper said.
     Forced to sell subsidized power to farmers and hurt by
power thefts, electricity boards are unable to pay power
generators. Two U.S. power producers, Enron Corp. and AES
Corp., have asked the government to buy out their stakes in
local power projects because of unpaid bills.

India To Evaluate Options On Enron Stake Buy Out Offer

07/31/2001
Dow Jones International News
(Copyright (c) 2001, Dow Jones & Company, Inc.)

NEW DELHI -(Dow Jones)- India will evaluate all options before making a
decision on U.S. energy major Enron Corp.'s (ENE) offer to sell its majority
stake in the controversial Dabhol Power Co. to the government, a senior
Indian Power Ministry official said Tuesday.
"We are closely watching all the developments. Enron hasn't formally
approached us with an offer. It will be premature to say anything on the
issue now. The government will take a stand on the Enron matter only after
thoroughly studying all the prospects and consequences," said the official.
A spokesman for Dabhol Power Co. said his company has had no contact with the
federal government lately.
Enron said Saturday the company wanted to sell its stake in Dabhol Power Co.
to India's federal government or one of the project's lenders.
Enron holds a controlling 65% equity in Dabhol Power Co., located in the
western Indian state of Maharashtra. The Dabhol Power Co. plant has a
capacity to generate 740 megawatts but is currently not operating because of
payment disputes with its sole buyer, the Maharashtra State Electricity
Board. MSEB stopped drawing electricity from Dabhol May 29, saying the
company's tariffs were "unaffordable."
Work on an 85% complete 1,444 MW phase II of the Dabhol project was stopped
in mid-June because of Dabhol Power Co.'s financial difficulties.
At $2.9 billion, Dabhol Power Co. is the single largest foreign investment in
India to date.
-By Himendra Kumar; Dow Jones Newswires; 91-11-461-9426;
himendra.kumar@dowjones.com -0- 31/07/01 10-09G

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

INDIA PRESS:Govt Asks Lenders To Bail Out Dabhol Pwr Proj

07/31/2001
Dow Jones Asian Equities Report
(Copyright (c) 2001, Dow Jones & Company, Inc.)

NEW DELHI -(Dow Jones)- India's federal government has directed financial
institutions, led by the Industrial Development Bank of India (P.IDB), to
work out a package for saving the controversial $2.9 billion Dabhol power
project in the western Indian state of Maharahtra, reports the Financial
Express.
U.S. energy company Enron Corp. (ENE) holds a controlling 65% stake in Dabhol
Power Co., which operates a 740-megawatt power plant.
The move comes on the heels of Enron's decision to pull out of India's power
sector, says the newspaper report.
The package is aimed at completing the 1,444-megawatt phase II of the Dabhol
project. A sum of $550 million is required to complete the project, of which
lenders have agreed to pump in around $320 million. As Enron doesn't want to
inject fresh money into Dabhol, the financial institutions will either have
to scout for a new investor for the project or pump in the remaining $230
million themselves, the report said.
Web site: http//www.financialexpress.com

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

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

Report: Indian government orders financial institutions to save Dabhol power
project, as Enron wants to pull out

07/31/2001
Associated Press Newswires
Copyright 2001. The Associated Press. All Rights Reserved.

NEW DELHI, India (AP) - The federal government has told financial
institutions to pump in more money or find a new investor to save the Dabhol
power project, now that U.S.-based Enron Corp. has said it wants out, The
Financial Express reported Tuesday.
The Industrial Development Bank of India, and other institutions, have been
told to work out a package to complete the dlrs 2.9 billion project in
western Maharashtra state, the paper said, quoting unidentified officials of
the banks and the Power Ministry.
Power Ministry officials were quoted as saying that Enron had agreed in
principle to finish the project if the dlrs 230 million can be found, and
then Enron could sell its majority stake.
The project was billed as the world's largest natural gas-fired power plant,
able to generate 2,184 megawatts once completed at Dabhol, 335 kilometers
(210 miles) south of Bombay. The second phase, to be run on liquefied natural
gas, was to be commissioned by the end of the year.
Enron, based in Houston, Texas has invested dlrs 875 million in the project -
India's biggest foreign investment. Enron said July 28 it wants the Indian
government and lenders to buy out its 65 per cent stake.
The plant stopped production in May after its only customer, the Maharashtra
State Electricity Board, said it was canceling a seven-year-old power
purchase agreement. The state also stopped buying power from Enron's
two-year-old naphtha plant.
The state says Enron's prices are too high and has demanded the contract be
renegotiated.
The Financial Express said that lenders are ready to pump another dlrs 320
million into Dabhol, but there is a shortfall of an additional dlrs 230
million.
The financial institutions will have to find a new investor or provide the
money themselves, the newspaper quoted its sources as saying.
It also quoted Power Ministry officials as saying it would be difficult to
find a buyer until the project is completed. Some of the needed money may be
sought from Maharashtra state, which had committed to making payments, the
paper quoted Power Ministry officials as saying.
The current charges for power are still a matter of contention, however.
The paper said Enron had reduced its price demands, after the government
offered various tax and customs duty concessions, but the government wants
the price for electricity to be cut further.
(lak)

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

FIs asked to work out deal for Dabhol completion
Soma Banerjee

07/31/2001
The Economic Times
Copyright (C) 2001 The Economic Times; Source: World Reporter (TM)

FINANCIAL institutions led by Industrial Development Bank of India have been
directed by the Centre to work out a package by which the controversial
Dabhol Power plant can be completed which in turn could pave the way for the
sale of equity by Enron.
Enron, which has a $2.9 billion stake in the project has recently announced
its decision to pull out of India. This comes barely weeks after the visit of
Enrons chairman Kenneth Lay who had then maintained that the 'company is
committed to India' and is looking forward to 'positive talks'.
The package which will be submitted to a high level committee, which is
represented by the finance, power and law ministry and headed by union
finance secretary Ajit Kumar. Representatives of the Union power and finance
ministry met last week to thrash out the main objectives of the package.
According to FI sources, the package which is expected to be finalised
shortly will have to have a twin objective of completing the project and
finding takers for the power to be generated.
The phase II of the project (phase I of which is already operational)
requires an additional investment of $550 million to be completed of which
$320 million has already been tied up with the lenders.
Another $230 million has to be pumped in into the project. Given the fact
that Enron is unwilling to pump in any more funds in the project, the FIs
will have to look for the additional resources.
The required resources can be moped up only through the infusion of fresh
investments by a new developer or if the FIs are willing to put in the money
themselves.
FIs are also holding discussions with MSEB to honour their obligation and pay
up the fixed charges of about Rs 95 crore which could then be used for
completing the project.
Sources said although Enron has decided to call it a day in the Indian power
sector, the company is not averse to the proposal of completing this project
without any further investments. Experts are of the view that this would make
sense even for Enron who could then expect a better price for its equity.
On the sale of power and restructuring of tariff, the FIs are holding
negotiations with DPC and the various agencies who play a role in
contributing to the tariff. While DPC has offered a tariff of Rs 3.59 per
unit, the FIs will try and work towards a tariff close to Rs 2.80 per unit.
Apart from aspects like working a separate arrangement for the LNG plant,
reduction in Customs duty and sales tax on LNG, attempts would be made to
also try and reduce LNG prices by asking the suppliers to rework their rates.
Official sources indicated that Enrons decision to finally announce its
intention to exit from the Dabhol project is likely to lead to some decision
this way or the other.
The Centre which has till now played a passive role and has left the issue to
be resolved bilaterally is now playing a more proactive role and will
definitely take every step to avoid litigations at the international lenders
level.

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

Houston-Area Firms Brace for Onslaught by Code Red Computer Worm
Tom Fowler

07/31/2001
KRTBN Knight-Ridder Tribune Business News: Houston Chronicle - Texas
Copyright (C) 2001 KRTBN Knight Ridder Tribune Business News; Source: World
Reporter (TM)

Technicians at Reliant Communications and other Internet service providers
will burn the midnight oil tonight and well into Wednesday, fighting the
rebirth of an Internet worm some say could be the worst threat to the Web to
date.
The Code Red worm, an online infection first spotted on July 19, is expected
to awaken from its dormant state on hundreds of thousands of computers around
the world at about 7 p.m. CST today. Tuesday. It will then start flooding the
Internet with traffic as it tries to replicate itself, creating the
equivalent of an overwhelming number of surfers hitting the Web at once.
Dave Power, senior vice president of technology at Reliant Communications,
said nearly every Internet service provider is taking the threat seriously
and will monitor it carefully as it develops.
"At the end of our staff meeting today the message we all left with was, `Be
prepared for the siege,'" Power said.
Unlike a virus, which spreads when a user opens an e-mail attachment, Code
Red is a self-propagating worm that spreads itself without human
intervention.
When Code Red first showed up earlier this month it infected more than
250,000 systems in just nine hours, security officials say. It tried to shut
down the White House's Web server by sending a flood of data requests its
way, but officials changed the Internet Protocol address, the numeric
reference to a computer's location on the Internet, of the White House site
before the attack began.
When the worm reactivates Tuesday tonight it could begin spreading more
quickly, bringing sporadic but widespread Internet slowdowns and defacing Web
pages.
The potential threat to Internet service is so severe that several federal
agencies and companies, including the FBI and Microsoft, held a joint press
conference Monday.
"The Internet has become indispensable to our national security and economic
well-being," said Ron Dick, head of the National Infrastructure Protection
Center, an arm of the FBI. "Worms like Code Red pose a distinct threat to the
Internet."
Code Red scans the Internet for Web servers, sending a string of code to
those machines that takes up residence not in the hard drive but in the
buffer memory where it is difficult to detect. The worm targets servers
running Microsoft Windows NT and Windows 2000 with Internet Information
Server, or IIS, software versions 4.0 and 5.0.
The worm isn't likely to infect the computers most people have at home or on
their desktops at work, but rather will infect Web servers, the powerful
machines kept in air-conditioned data centers that let people view Web sites
online. That means any sort of Web surfing, from checking e-mail to buying
books online to looking up stock quotes, may be anywhere from significantly
slow to nearly impossible.
"So the ordinary person using a cable modem or DSL won't be infected, and
they don't need to worry about their privacy or confidentiality," said Chris
Pick, vice president of product strategy for Houston-based PentaSafe Security
Technologies. "But they will notice that some of the Web sites they want to
hit are either running slowly or are simply not available."
Unlike an e-mail virus, which spreads when a user opens an e-mail attachment,
Code Red is a self-propagating worm that spreads itself without human
intervention.
Code Red scans the Internet for Web servers, sending a string of code to
those machines that takes up residence not in the hard drive, but in the
buffer memory where it is difficult to detect. The worm targets servers
running Microsoft's Internet Information Server, or IIS, software versions
4.0 and 5.0.
From within a server Code Red begins scanning a randomly generated list of
Internet addresses to find another server to infect. If the infected server's
default language is English, all Web pages served by that machine will be
defaced with the message "HELLO! Welcome to http://www.worm.com! Hacked by
Chinese!"
Officials say they have not identified the author of the program, but its
name is said to be a reference to a soda made by Mountain Dew that is popular
with hackers, and the name is not a reference to "Red" China.
Officials say they have not identified the author of the virus, but its name
is said to be a reference to a popular soda made by Mountain Dew with hackers
and not China.
The real problems created by Code Red are not related to security or privacy
issues, or even the Web page graffiti, but rather the amount of traffic that
will be generated by hundreds of thousands of Web servers sending out data
packets searching for other machines to infect.
The first 19 days of a month the worm is set up to scan and infect, but from
day 20 until day 27 the worm floods a certain Internet address -- in this
case the White House Web server -- with information requests causing a
denial-of-service attack.
The White House changed its Internet address prior to the attack earlier this
month and avoided being knocked out, but that didn't kill off Code Red. The
worm has been sitting dormant on servers for the past two weeks, but when the
date changes from 31st to the 1st, it will begin scanning for new hosts to
infect again.
A software patch to fix the Microsoft IIS program's vulnerability has been
available since June, a few weeks after developers and security experts found
the problem. Unfortunately, not enough system administrators and Web masters
installed it before the outbreak.
"Hacker groups in general are aware of these vulnerabilities, but they can be
taken care of relatively easily with just a little vigilance," Pick said.
Jeremy Hewlett, security administrator for Reliant Communications, said
downloading the software patch should be the first priority for any system
administrator. In addition to the Microsoft site, the National Infrastructure
Protection Center, www.nipc.gov, and Symantec Co., www.symantec.com cq for
both addresseshave information about detecting and removing the worm.
Observers say Microsoft products are common targets for virus writers because
the software is found running on so many sites and because Microsoft has not
always been as attentive to security issues as it could be.
"With Windows NT and Windows 2000 they were engineered to work in tandem with
a lot of other systems at once, so security was not engineered into the
products from the start," Pick said. "They haven't focused on it much in the
past but are starting to become more aware of it."
Microsoft is known for not testing its products as well as it could either,
Power said, which also leads to many post-release patches and updates.
"They're not very forthcoming with problems, which is why you'll see most
people go to the public and press with issues first," Power said.
Microsoft took part in the public warnings about Code Red on Monday and has
been providing the patch for free on its Web site for weeks.
Hewlett said the staff at Reliant Communications has already cleared its
network of the worm but is expecting to work late Tuesday night monitoring
incoming attacks from other infected servers. University networks are among
some of the likely breeding grounds since schools' Information Technology
departments tend to be particularly short-staffed in the summers.
"We saw enormous volumes of traffic from the schools last time, but nobody
really monitors the university networks for this," he said.
While the denial-of-service attack aimed at the White House could have been
damaging if it had not been redirected in time, there's nothing stopping a
virus writer from setting his or her sights on another target, like a
company's Web site.
"It could be Enron's site, it could be any other government site, or any part
of the net's infrastructure that's vital to the economy," Pick said. "Houston
is just as likely as any other city to be infected."

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

Calif Gov Spokesman Says He Bought Calpine Stock In June

07/30/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

LOS ANGELES -(Dow Jones)- A spokesman for Gov. Gray Davis purchased shares of
Calpine Corp (CPN) on June 20, 2001, he said Monday, but declined to say how
many shares he purchased.
This is the first time an official in Davis' office has admitted to
purchasing shares in energy companies since the state took on the job of
buying power in January in lieu of the utilities.
As reported, the U.S. Securities and Exchange Commission has been
investigating Davis administration officials for more than a month to see if
they purchased stock in energy companies using information that was
unavailable to the public. Davis spokesman Steve Maviglio said, however, that
his stock holdings did
not represent a conflict of interest. Maviglio has not been named in the
SEC investigation, and says he made his purchases based on public
information.

"There's no crime in owning energy company stocks," Maviglio said. "My
purchase of Calpine was based on information I read in the newspapers."
Maviglio also owns between $10,001-$100,000 in Enron Corp (ENE) stock,
according to a 2000/2001 financial disclosure form. He said he has owned
Enron stock since 1996.

Last week, five state energy consultants were fired by Davis' staff for
conflicts of interest because they helped California buy power from Calpine,
a company in which they owned stock, state officials said.
The consultants, who were hired by the state in January, did not file
economic interest statements until July, when Secretary of State Bill Jones
revealed that the consultants and energy traders held stocks in energy
companies they were buying from. Jones said Monday that Maviglio's actions
were "unethical, unconscionable and unacceptable."
"The Governor should direct all of his staff to immediately file updated
conflict of interest statements to reflect current holdings and any activity
since their last Statement of Economic Interests was filed," Jones said in a
statement. Jones, a Republican who hopes to challenge Democrat Davis next
year for governor and who has been highly critical of Davis' handling of the
energy crisis, also called for an expansion of investigations.
"The SEC, the Attorney General and the Fair Political Practices Commission
must now expand their investigations to include all of the Governor's staff
in addition to the consultants who are already under investigation," the
statement said.
Attorney General Bill Lockyer has not yet decided whether he will launch an
investigation into the Davis administration, a Lockyer spokeswoman said.
The governor's own investments are in a blind trust, meaning a trustee
handles Davis' financial affairs and the governor has no knowledge of the
investments.
"I have always owned mutual funds and have never bought stock in individual
companies. That has been my policy since the beginning of my administration,"
Davis said Monday at a bill-signing event in Los Angeles.
State conflict-of-interest laws say that public officials cannot negotiate
contracts for companies in which they hold stock, and officials cannot use
their positions to influence the state's decisions with respect to those
companies.
The conflict-of-interest laws apply to all state bodies, including the
California Public Utilities Commission and the California Independent System
Operator, which runs the state's real-time energy market.
The five members of the ISO Board of Governors listed no holdings in energy
companies since Jan. 24 on their most recent disclosure forms, signed between
Jan. 24-July 24. The board was appointed by Davis in January. Disclosure
forms for the CPUC and employees with the California Department of Water
Resources, the state's power-buying arm, could not be immediately obtained.
SEC investigators said Sunday that a preliminary investigation has revealed
that several employees and consultants working directly with Davis on energy
issues have purchased "significant" shares of Calpine stock between January
and July. Individuals purchased stocks in other energy companies, but
invested heavily in Calpine, the investigators said. Nearly half of the
state's $43 billion in long-term energy pacts will come from Calpine,
according to details of contracts released last month. Some of the contracts
were signed as early as February, but Davis had refused to release the
details of the supply until a Superior Court Judge ordered the administration
to do so in mid-June after news organizations filed a lawsuit.
Davis has accused power suppliers of price gouging, and his attorney general
hopes to send power company executives to jail. But Davis has spared Calpine
the invective, touting the San Jose-based generator as a "California company"
helping to keep the lights on in the state.
Maviglio has said the governor has praised Calpine because its prices are
well below those charged by other generators and because the company has
invested in California for the long haul.
Calpine is "not attempting to suck every dime out of the state and throw
parties in Houston," he said.
-By Jessica Berthold and Jason Leopold, Dow Jones Newswires;
323-658-3872/3874; jessica.berthold@dowjones.com, jason.leopold@dowjones.com

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

Functioning In The Bandwidth Market No One Expected
By Erwin Seba
Of DOW JONES NEWSWIRES

07/30/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

HOUSTON -(Dow Jones)- Band-X Ltd., the longest-lived bandwidth exchange, has
survived by moving as the market has developed, said a London-based analyst
of the London-based company.
"Their business model is sound," Ciara Ryan, senior manager in the bandwidth
trading department at Arthur Andersen's London office, told Dow Jones
Newswires. "They understand the limitations of the market. They didn't try to
fix the world overnight."
Band-X began trading bandwidth in 1997, two years before Enron Corp. (ENE),
announced it was going to be a market-maker in bandwidth trading.
But, a company executive said part of the reason for his company's success is
it lacks an energy- merchant background.
"The difference between gas and bandwidth is you can't store bandwidth,"
Donald Noonan, vice president of Networks, told Dow Jones. In 2000, the
privately held company saw $80 million in bandwidth trades, Noonan said.
The company has offices across Europe, Asia and in the U.S.
The company also operates a telecommunications minutes exchange and a
colocation exchange, which is increasing business as companies seek to gain
some return on an investment in a network with rapidly declining profit
potential, while others seek to buy or lease what they would otherwise build.
"We are constantly seeing the leasing of capacity," Noonan said.
But the contract time periods are shifting from the previously common 20-year
lease to 1-year or 10- or 20-year contracts, he said.
And the company has won favorable reviews from the most conservative part of
the market, the carriers, Ryan said.
"They have a lot critical mass and lot of support in the marketplace," she
said.
-By Erwin Seba, Dow Jones Newswires; 713-547-9214; erwin.seba@dowjones.com

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

INDIA: India evaluating Enron's offer to quit Dabhol.

07/30/2001
Reuters English News Service
(C) Reuters Limited 2001.

NEW DELHI, July 30 (Reuters) - Indian officials said on Monday they were
evaluating an offer by U.S. energy firm Enron to sell its stake in troubled
Dabhol power project to the federal government.
A spokesman for the Dabhol Power Company, in which Enron holds a 65-percent
stake, said on Saturday the firm and its partners wanted to sell equity in
the project to the federal government or the lenders.
"We are assessing the situation. It is too premature to say anything right
now," a senior federal power ministry official, who did not want to be
identified, told Reuters.
He said the federal government had not received any formal offer from Enron
to sell its equity in the controversial project.
Government sources said that ministry officials were talking to Indian
financial institutions to assess Enron's statement.
A power ministry official said if the federal government picked up Enron's
equity in the project, it could save the government millions of dollars in
penalties which it would have to pay if it lost an arbitration case over the
project.
Apart from Enron, DPC's shareholders include U.S. group General Electric and
Bechtel, which own 10 percent each, and a local utility, the Maharashtra
State Electricity Board (MSEB), which holds 15 percent.
Enron has been locked in a bitter payment dispute with MSEB, which had signed
a contract to buy all the power produced by Dabhol, whose first phase of 740
MW was completed last year, and the second phase of 1,444 MW is nearly
complete.
A BLESSING
India's western state of Maharashtra, where the project is located, welcomed
Enron's offer to sell its equity in the controversial project, the Press
Trust of India reported.
"It will be God's biggest blessing for us," the agency quoted the state's
Energy Minister Padamsinh Patil as saying in Bombay.
It also quoted the head of a negotiating committee, M. Godbole as saying that
the panel's next meeting, scheduled after a month, would be cancelled in view
of Enron's statement that it wants to exit Dabhol.
MSEB and Enron's dispute escalated in April, when the U.S. firm notified the
government it was applying to an arbitration court in London to consider its
claim for 1.02 billion rupees owed by MSEB for power it purchased in December
from DPC.
The company also sent a political force majeure notice to MSEB. Such a notice
is a contractual clause dissatisfied parties give as a first step towards
possibly dissolving a contract.
In May, the defaulting utility stopped buying power from Dabhol, saying it
was expensive.

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

California Governor's Spokesman Says He Bought Calpine Stock
2001-07-30 21:36 (New York)

California Governor's Spokesman Says He Bought Calpine Stock

     Sacramento, California, July 30 (Bloomberg) -- A spokesman
for California Governor Gray Davis said bought $12,000 worth of
stock in energy producer Calpine Corp. in June as the state was
working with the company to open new power plants and buying
millions of dollars a day in electricity.
     Davis spokesman Steve Maviglio purchased 300 shares of
Calpine on June 20 after putting in an order on May 31 to buy the
stock when it fell to $40, he said. The purchase is being reviewed
by the Governor's legal office, Maviglio said.
     ``These purchases were based on no knowledge of anything,
just public information about a growing California company,''
Maviglio said. ``I've informed the governor, the chief of staff
and our legal counsel today. I'd be glad to divest myself if
that's what required.''
     Maviglio also said he owns between $10,000 and $100,000 in
Enron Corp. shares, which he said he purchased in 1996. His
purchases came to light three days after California officials said
they fired five consultants hired to advise California on energy
after they disclosed that they owned shares of Calpine.
     The consultants worked for the Department of Water Resources,
which at the time was buying millions in electricity from Calpine
and other energy generators. California has spent almost $8
billion buying electricity for its two largest utilities, which
have been insolvent since January.
     Nine energy consultants were ordered by Davis's lawyer Barry
Goode last week to sell any energy-company stock they owned,
including shares of Enron Corp., Calpine Corp., and Dynegy Inc.,
after Secretary of State Bill Jones pressured Davis to release
details of their holdings.
     Jones said today in a statement that Maviglio should be fired
for the purchases.
     ``These actions are unethical, unconscionable, unacceptable
and heads should role,'' Jones said. ``Mr. Maviglio should be
fired immediately.''
     Jones has publicly called on Davis to force the 50
consultants hired by the state to disclose their holdings in
energy companies. Last week he urged the Securities and Exchange
Commission to investigate whether any of the consultants or
advisers traded stock based on non-public information.
     Maviglio said no one in the administration or at the
Department of Water Resources had been contacted by the SEC. ``No
one's been contacted either here or at DWR,'' Maviglio said.
     A spokeswoman for the SEC in San Francisco, Helane Morrison,
said the agency would not confirm or deny an investigation.
     Calpine shares are down 6.8 percent since June 20, when
Maviglio says he purchased the shares.


Ratios are still in progress. thanks.


Greg,
See note below for detail but here is the exec summary.

We had a couple of big shifts on the curves yesterday which I want you to be
aware of.  We wanted to put several major adjustments through on the same
day.  The main moves are as follows:

Increased gas volatility - we moved the curve up significantly for the first
several years. Lose o16mm
Power Peaks down, off-peaks up across the whole curve.    Gain o10mm

Because "structured Derivatives" is a separate line item, this book loses
$43mm today, with power making approx $40mm to off-set.  The $43mm may need
to be reported to Skilling, even though the real loss is just the gas loss of
o16mm.

(There were several other clear up items put through, but the above
represents the main issues to be aware of.  Net on the day we are up, and
still expect to hit Q4 targets.).

Regards

Richard
---------------------- Forwarded by Richard Lewis/LON/ECT on 07/12/2000 11:49
---------------------------

James New
06/12/2000 18:18
To: John Sherriff/LON/ECT@ECT, Michael R Brown/LON/ECT@ECT, Richard
Lewis/LON/ECT@ECT
cc: Fernley Dyson/LON/ECT@ECT, Mike Jordan/LON/ECT@ECT, Buddy
Aiken/LON/ECT@ECT, Ingrid Morse/LON/ECT@ECT

Subject: UK Power Actual P&L results

We have now substantially calculated and confirmed the various line
adjustments we have been working on with commercial over the past few weeks.
The attached spread sheet shows the actual numbers (one number still to
determine finally) against forecast. The main changes were as a result of the
curves we used being a few days out of date and the front end of the live
curve having moved from the scenario curves. Dates are included for when the
P&L has been posted to the DPR. In addition to these numbers we booked a
profit of around o8.8m on the 30th of November relating to the Climate Change
Levy impact in the UK Power Energy Trends curve.

If you have any queries please let me know.

James


Please find attached a spreadsheet containing the details of the trades BofA
book on the Brazos transaction.

 <<Brazos.xls>>

 - Brazos.xls


Group,
Another update on the situation with California.
Check out the letter.
Good questions...

-----Original Message-----
From: Hall, Steve C.
Sent: Tuesday, August 14, 2001 3:55 PM
To: Belden, Tim; Yoder, Christian; O'Neil, Murray P.; Foster, Chris H.;
Williams III, Bill; Stokley, Chris; Blair, Kit
Subject: FW: Letter sent to the ISO on creditworthiness

IEP decided to send our letter to the ISO inquiring about the creditworthiness of certain SCs, like CDWR.  Let's see what happens.

Steve
-----Original Message-----
From: Mara, Susan
Sent: Tuesday, August 14, 2001 2:32 PM
To: Hall, Steve C.
Subject: FW: Letter sent to the ISO on creditworthiness

-----Original Message-----
From: Katie Kaplan [mailto:kaplan@iepa.com]
Sent: Tuesday, August 14, 2001 11:11 AM
To: Alan Comnes (E-mail); Bill Woods (E-mail); Bob Ellery (E-mail);
Brian T. Cragg (E-mail); Carolyn A Baker (E-mail); Curtis Hatton
(E-mail); Curtis Kebler (E-mail); Parquet, David; 'Dean Nistetter';
Douglas Kerner (E-mail); Duane Nelsen (E-mail); 'Ed Wheless'; Eric
Eisenman (E-mail); George Vaughn (E-mail); Greg Blue (E-mail); Jack
Pigott (E-mail); 'JoAnn Van Buren'; Joe Ronan (E-mail); John G. Larrea
(E-mail); Ken Hoffman (E-mail); Kent Palmerton (E-mail); Fillinger,
Mark; Mark J. Smith (E-mail); Marty McFadden (E-mail); Nam Nguyen
(E-mail); 'Rachel King'; Randall J. Hickok (E-mail); Roger Pelote
(E-mail); Ross Ain (E-mail); Scott Sadler (E-mail); Steve Ponder
(E-mail); Steve Schleimer (E-mail); Susan J Mara (E-mail); Tom Hartman
(E-mail); Ward Scobee (E-mail); William Hall (E-mail)
Cc: Andy Brown (E-mail); 'Carol Hudson (E-mail)'; 'Jan Smutny-Jones
(E-mail)'; Jean Munoz (E-mail); 'Katie Kaplan (E-mail)'; Sandra Moseley
(E-mail); 'Steven Kelly (E-mail)'; Thomas R. McMorrow (E-mail)
Subject: Letter sent to the ISO on creditworthiness

Greetings:

Attached please find the final letter sent to the ISO on creditworthiness.
Thank you to all who provided input and feedback on the letter.

Thanks,

Katie Kaplan
Manager of State Policy Affairs
Independent Energy Producers Association
(916) 448-9499


I am doing her thing on Saturday in the middle of nowhere Texas.  Kind of a compromise.  My thing Thursday.

John told me to take off as early as I want tomorrow for the drive.  So I think I shall.  I called my boy at San Joaquin.

-----Original Message-----
From: Woods, Trevor
Sent: Tuesday, November 20, 2001 9:37 AM
To: Taylor, Michael E
Subject: RE:

Atta boy. Probably a good choice. Your girl okay with it?  GHG is a snoozer. Go ahead and call your boy. Tell him we're checking on some things.
 Trevor Woods

-----Original Message-----
From: Taylor, Michael E <Michael.E.Taylor@ENRON.com>
To: Woods, Trevor <Trevor.Woods@ENRON.com>
Sent: Tue Nov 20 09:30:38 2001
Subject: RE:

I just got back from the greenhouse gas meeting.  The meeting was good. But you will be retired before that program is worth anything as far as a good trading program is concerned.

John, said he talked with you on the phone about the b-plan.  I added a table of contents, and if John gives me anything to add I will.

I am going home (LA) tomorrow so I might work half a day.

-----Original Message-----
From: Woods, Trevor
Sent: Tuesday, November 20, 2001 9:25 AM
To: Taylor, Michael E
Subject: RE:

Nah. I'm gonna keep it my little secret.
 Trevor Woods

-----Original Message-----
From: Taylor, Michael E <Michael.E.Taylor@ENRON.com>
To: Woods, Trevor <Trevor.Woods@ENRON.com>
Sent: Tue Nov 20 09:22:09 2001
Subject: RE:

Just to keep up good relations.  I told him we would get back with him.  Please let me know if you do not call him.

-----Original Message-----
From: Woods, Trevor
Sent: Tuesday, November 20, 2001 8:44 AM
To: Taylor, Michael E
Subject: RE:

I suppose. Nothing to tell him though.
 Trevor Woods

-----Original Message-----
From: Taylor, Michael E <Michael.E.Taylor@ENRON.com>
To: Woods, Trevor <Trevor.Woods@ENRON.com>
Sent: Tue Nov 20 07:37:23 2001
Subject: RE:

I put it in my original message below.  It is 832-496-0123.  Tom Hartman with San Joaquin Power. I imagine a natural.  Are you going to call him today?

-----Original Message-----
From: Woods, Trevor
Sent: Monday, November 19, 2001 6:15 PM
To: Taylor, Michael E
Subject: RE:

Is he a broker or a natural?  I've heard about the company through cantor. He's not going anywhere.  Everyone says they want to move fast then the jack around. You got his number?
 Trevor Woods

-----Original Message-----
From: Taylor, Michael E <Michael.E.Taylor@ENRON.com>
To: Woods, Trevor <Trevor.Woods@ENRON.com>
Sent: Mon Nov 19 17:06:19 2001
Subject: RE:

I didn't want to talk price with him.  He saw our ERCs (that we just sold for $15,000) on website and called Kevin's line.  I was told to pick up the phone.  I told him somebody would call him back.  Either you or I would if you didn't want to call him.  He wanted to move fast, and he mentioned he used brokers in the past.

If none are out, I think we should call and tell him.

-----Original Message-----
From: Woods, Trevor
Sent: Monday, November 19, 2001 4:00 PM
To: Taylor, Michael E
Subject: RE:

Who is that and how do you know him?  I haven't seen any come on since we sold some. What was his bid?
 Trevor Woods

-----Original Message-----
From: Taylor, Michael E <Michael.E.Taylor@ENRON.com>
To: Woods, Trevor <Trevor.Woods@ENRON.com>
CC: Massey II, John <John.Massey@ENRON.com>
Sent: Mon Nov 19 15:56:46 2001
Subject: RE:

I just spoke with Tom Hartman of San Joaquin Power.  He wants up to 20 HGA NOx ERCS.  I told him I would have to check.  He wants to move quickly.  His number is 832-496-0123.  I know we do not have any, but I wanted to see if an arb was possible before we tell him we do not have any.


Nearly final docs.

The change they want in the LLC is the addition of a statement indicating
that for tax purposes this is a  single member LLC, or something like that.

The promissory note is felt to be necessary due to the adjustment mechanism
for any change orders.  Has something to do with them getting all the basis.

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 04/19/2001 06:34
AM ---------------------------

"Wright, Tremaine S." <TremaineWright@paulhastings.com> on 04/18/2001
08:16:49 PM
To: "'chris.booth@enron.com'" <chris.booth@enron.com>, "'kay.mann@enron.com'"
<kay.mann@enron.com>, "'michael.young@northwestern.com'"
<michael.young@northwestern.com>, "'jkeffer@kslaw.com'" <jkeffer@kslaw.com>,
"'mreuter@kslaw.com'" <mreuter@kslaw.com>
cc: "Kahn, Marguerite R." <MargueriteKahn@paulhastings.com>, "DeBerry,
Jeremiah A." <JeremiahDeberry@paulhastings.com>

Subject: Attached Files

1. We are attaching revised drafts (in clean and marked forms) of the
following:
  Letter Agreement   NY/333343 (3v2 Firm Style)
  ENA Promissory Note NY/333403 (3v2 Firm Style)
  NorSub Promissory Note NY/333404 (3v2 Firm Style)

2.  We will circulate a revised draft of the LLC Agreement after discussion
with John Keffer of a matter raised with him earlier today.

3.  We believe the NorthWestern Guaranty and the Escrow Agreement are in
final form (in the forms last circulated).

4.  We await a revised draft of the Assignment and Assumption Agreement.

 <<blackline - Letter Agreement.DOC>>  <<Letter Agreement.DOC>>  <<blackline
- ENA Note.DOC>>  <<E-Note.DOC>>  <<blackline - NorSub Promissory Note.DOC>>
 <<Promissory Note.DOC>>

"paulhastings.com" made the following annotations on 04/18/01 21:17:00
------------------------------------------------------------------------------
NEW E-MAIL ADDRESSES AT PAUL, HASTINGS, JANOFSKY & WALKER LLP

We have changed our e-mail address.  Our new domain name is
paulhastings.com.  In most cases, our address is composed of conventional
first name and last name plus @paulhastings.com.  Here are two examples:
janesmith@paulhastings.com and danjones@paulhastings.com.  If you have any
questions, please contact us at noc@paulhastings.com.

==============================================================================
"The information transmitted is intended only for the person or entity to
which it is addressed and may contain confidential and/or privileged
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this in error, please contact the sender and delete the material from all
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==============================================================================

 - blackline - Letter Agreement.DOC
 - Letter Agreement.DOC
 - blackline - ENA Note.DOC
 - E-Note.DOC
 - blackline - NorSub Promissory Note.DOC
 - Promissory Note.DOC


Hi, Stephanie.

To unsubscribe from the list, please do the following:

1.  Send an e-mail to:  LISTSERV@LIST.RTOWEST.ORG

2.  In the BODY of the e-mail, types the words "SIGNOFF RRGA-L"

3.  Make sure there is NO OTHER TEXT AT ALL in the body of the e-mail you
send (such as a sender signature).

This will take you off the list.

My apologies for the inconvenience and annoyance.

- Sarah

----- Original Message -----
From: "Watson, Stephany A - LT-7" <sawatson@BPA.GOV>
To: <RRGA-L@LIST.RTOWEST.ORG>
Sent: Tuesday, May 15, 2001 5:23 PM

> I can be deleted also.
>
> -----Original Message-----
> From: Dalia, Keith A - TOS-DITT1 [mailto:kadalia@bpa.gov]
> Sent: Tuesday, May 15, 2001 4:40 PM
> To: RRGA-L@LIST.RTOWEST.ORG
> Subject:
>
>
> You have been added to the RRGA-L mailing list (RTO West Congestion Model
> Content Group) by Keith Dalia <kadalia@BPA.GOV>.
>
> Please save this message for future  reference, especially if this is the
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> your  mailbox while  you  are away!  You should  also  save the  "welcome
> messages" from the  list owners that you will  occasionally receive after
> subscribing to a new list.
>
> To send  a message to  all the people  currently subscribed to  the list,
> just send mail  to RRGA-L@LIST.RTOWEST.ORG. This is  called "sending mail
> to the  list", because  you send  mail to a  single address  and LISTSERV
> makes  copies  for all  the  people  who  have subscribed.  This  address
> (RRGA-L@LIST.RTOWEST.ORG)  is also  called the  "list address".  You must
> never try to send any command to that address, as it would be distributed
> to all the people  who have subscribed. All commands must  be sent to the
> "LISTSERV  address",   LISTSERV@LIST.RTOWEST.ORG.  It   is  very
> important to understand  the difference between the  two, but fortunately
> it is  not complicated. The  LISTSERV address is  like a FAX  number that
> connects you  to a  machine, whereas  the list address  is like  a normal
> voice line connecting you to a person. If you make a mistake and dial the
> FAX number  when you  wanted to talk  to someone on  the phone,  you will
> quickly realize  that you used the  wrong number and call  again. No harm
> will have been done. If on the  other hand you accidentally make your FAX
> call  someone's  voice  line,  the  person receiving  the  call  will  be
> inconvenienced, especially if your FAX then re-dials every 5 minutes. The
> fact that  most people  will eventually  connect the  FAX machine  to the
> voice line to  allow the FAX to  go through and make the  calls stop does
> not mean  that you  should continue  to send FAXes  to the  voice number.
> People would just get mad at you.  It works pretty much the same way with
> mailing  lists, with  the difference  that  you are  calling hundreds  or
> thousands of people  at the same time, and consequently  you can expect a
> lot of people to get upset if  you consistently send commands to the list
> address.
>
> You may leave the list at any  time by sending a "SIGNOFF RRGA-L" command
> to LISTSERV@LIST.RTOWEST.ORG. You can also tell LISTSERV how you
> want it to confirm  the receipt of messages you send to  the list. If you
> do not trust  the system, send a "SET RRGA-L  REPRO" command and LISTSERV
> will send you a  copy of your own messages, so that you  can see that the
> message was distributed and did not get damaged on the way. After a while
> you  may find  that this  is getting  annoying, especially  if your  mail
> program does not  tell you that the  message is from you  when it informs
> you that new mail has arrived from  RRGA-L. If you send a "SET RRGA-L ACK
> NOREPRO" command, LISTSERV will mail you a short acknowledgement instead,
> which  will look  different in  your  mailbox directory.  With most  mail
> programs you  will know immediately  that this is an  acknowledgement you
> can read  later. Finally,  you can  turn off  acknowledgements completely
> with "SET RRGA-L NOACK NOREPRO".
>
> Following  instructions from  the list  owner, your  subscription options
> have been set to "NOFILES REPRO" rather than the usual LISTSERV defaults.
> For more  information about subscription  options, send a  "QUERY RRGA-L"
> command to LISTSERV@LIST.RTOWEST.ORG.
>
> Contributions sent to this list are automatically archived. You can get a
> list of the available archive files  by sending an "INDEX RRGA-L" command
> to  LISTSERV@LIST.RTOWEST.ORG. You  can then  order these  files
> with a "GET RRGA-L LOGxxxx"  command, or using LISTSERV's database search
> facilities. Send an  "INFO DATABASE" command for more  information on the
> latter.
>
> This  list is  available  in digest  form.  If you  wish  to receive  the
> digested version of the postings, just issue a SET RRGA-L DIGEST command.
>
> Please note that  it is presently possible for other  people to determine
> that  you are  signed up  to the  list through  the use  of the  "REVIEW"
> command,  which  returns   the  e-mail  address  and  name   of  all  the
> subscribers. If  you do not  want your name to  be visible, just  issue a
> "SET RRGA-L CONCEAL" command.
>
> More  information on  LISTSERV  commands  can be  found  in the  LISTSERV
> reference  card, which  you can  retrieve  by sending  an "INFO  REFCARD"
> command to LISTSERV@LIST.RTOWEST.ORG.


As an Analyst or Associate working in Enron Global Markets, Enron Industrial
Markets or Enron North America you are invited to attend our Holiday Party.
Please click on the attached link to launch your invitation.

 http://invitation.enron.com

Please direct any questions to Dorie Hitchcock via email.


Charts for today's meeting are attached:


John:
I have finally heard back from my credit person on all of the credit points
that I wanted him to confirm.  The only change that he raised was on the
cross default where he said that the threshold was $100,000,000 for the
Credit Support Providers and $10,000,000 for each party.    I will send you a
new mark up on that.  Otherwise, everything else credit wise was as stated in
your draft.

Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)


---------------------- Forwarded by Matthew Lenhart/HOU/ECT on 02/13/2001
11:46 AM ---------------------------

Susan M Scott
02/13/2001 10:42 AM
To: Matthew Lenhart/HOU/ECT@ECT
cc:

Subject: more pics

---------------------- Forwarded by Susan M Scott/HOU/ECT on 02/13/2001 11:41
AM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  Lisa Gillette                           02/13/2001 10:08 AM

To: Susan M Scott/HOU/ECT@ECT
cc:
Subject: more pics

---------------------- Forwarded by Lisa Gillette/HOU/ECT on 02/13/2001 10:04
AM ---------------------------

Daniel Diamond
02/13/2001 08:52 AM
To: Bryan Hull/HOU/ECT@ECT, Lisa Gillette/HOU/ECT@ECT
cc:

Subject: more pics

---------------------- Forwarded by Daniel Diamond/HOU/ECT on 02/13/2001
08:51 AM ---------------------------

ddiamond <ddiamond@pdq.net>@pdq.net> on 02/11/2001 01:47:28 PM
To: daniel.diamond@enron.com
cc:
Subject: more pics

pics

 - Gmoney.jpg
 - Hully.JPG


----- Forwarded by Jeff Dasovich/NA/Enron on 01/26/2001 07:35 PM -----

	"Julee Malinowski-Ball" <jmball@ns.net>
	01/26/2001 07:30 PM
	Please respond to "Julee Malinowski-Ball"

		 To: "Jan Smutny Jones" <smutny@iepa.com>, "Steven Kelley" <steven@iepa.com>,
"Katie Kaplan" <kaplan@iepa.com>
		 cc: "William Hall" <wfhall2@duke-energy.com>, "Tony Wetzel"
<twetzel@thermoecotek.com>, "Sue Mara" <smara@enron.com>, "Steven Kelley"
<steven@iepa.com>, "Steve Ponder" <steve_ponder@fpl.com>, "Stephanie Newell"
<stephanie-newell@reliantenergy.com>, "Roger Pelote"
<roger.pelote@williams.com>, "Robert Lamkin" <rllamkin@seiworldwide.com>,
"Richard Hyde" <rwhyde@duke-energy.com>, "Paula Soos"
<paula_soos@ogden-energy.com>, "Nam Nguyen" <nam.nguyen@powersrc.com>, "Marty
McFadden" <marty_mcfadden@ogden-energy.com>, "Lynn Lednicky"
<lale@dynegy.com>, "kent Palmerton" <kent.palmerton@williams.com>, "Ken
Hoffman" <khoffman@caithnessenergy.com>, "Kassandra Gough"
<kgough@calpine.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" <elliottsa@earthlink.net>, "Jeff
Dasovich" <Jeff.Dasovich@enron.com>, "Jack Pigott" <jackp@calpine.com>, "Hap
Boyd" <rboyd@enron.com>, "Greg Blue" <gtbl@dynegy.com>, "Frank DeRosa"
<fderosa@sanfrancisco.usgen.com>, "Ed Tomeo" <ed.tomeo@uaecorp.com>, "Duane
Nelson" <dnelsen@msn.com>, "David Parquet" <dparque@ect.enron.com>, "Curtis
Kebler" <curtis_l_kebler@reliantenergy.com>, "Carolyn 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>, "Craig Chancellor"
<craigc@calpine.com>, "Eric Eisenman" <eric.eisenman@gen.pge.com>, "Kate
Castillo" <ccastillo@riobravo-gm.com>, "Andy Brown" <ABB@eslawfirm.com>,
"Doug Kerner" <runwithmee@aol.com>, "Chris Ellison" <CTE@eslawfirm.com>,
<chudson@iepa.com>
		 Subject: Legislative Status Report Week Ending 1/26

Date: 1/26/01
To: Jan Smutny-Jones, Steven Kelly, Katie Kaplan
From: Julee Malinowski-Ball, Edson + Modisette
RE: Legislative Status Report Week Ending 1/26

RECENT EVENTS:

-- AB 1x (Keeley), which would authorize DWR to procure power for California
utilities and consumers, passed out of the Senate Energy Committee this
week.  The language which stated that any entity supplying power to DWR
would be considered a public utility was deleted from the bill.  After the
bibding information came in from the DWR RFP, the 5.5 cent cap was also
deleted from the bill.  In its place was inserted language stating the goal
of DWR was to procure power at the lowest price possible per kWh.  The
author and committee chair agreed this bill would not address any broader
issues associated with undercollections and stranded costs.  The measure was
heard in the Senate Appropriations today, but will not be voted on until
Monday when the committee meets again at 10 am.  The amended version is
still not in print.

-- AB 18x (Hertzberg) was introduced this week that would take the issues
addressed in AB 1x further.  This measure would also authorize DWR to enter
into contracts for the purchase or sale of electricity for California
utilities and consumers.  Additionally, however, the measure addresses
undercollections and going-forward costs.  Much of the debate in today,s
Assembly Energy Cost and Availability Committee was focused on whether or
not the utility has reasonable costs that should be recovered.  The
committee agreed after a lengthy debate that this bill may want to sent up a
mechanism for answering this question.   The most shocking statement made
during the debate was when PG&E estimated their &net8 undercollections was
$8.2 billion.

IEP member company generators have drafted comments and amendments on AB 18x
and have submitted them to the committee for consideration.  The crux of
these comments is the concern that the bill explicitly excludes amounts owed
by SCE and PG&E to suppliers.  Committee staff assures us they intend to
address that issue in future amendments.  I will have these comments
available electronically for your information on Monday.

-- In question still at this time is whether AB 18x or AB 1x would be the
vehicle for the product of negotiations between the QFs and the utilities;
or, if another bill all together would carry the water.

-- Asm. Rod Wright has been holding nightly forums with energy stakeholders,
primarily generators, marketers and the utilities, as a general data dump to
keep these groups abreast of what the ECA committee and legislative
leadership is doing and planning on doing.  Edson + Modisette has been
participating in these meetings as has many of the IEP members companies and
their lobbyists.

-- Asm. Wright,s office is continuing to collect siting proposals.  They
have indicated that they intend to keep repower, peakers and new generation
issues separate, in separate bills.  Their immediate interest at this time
is on proposals that benefit repowers.  There is no indication what the
timeframe is on any bill, but proposals should get into his office as soon
as possible.  IEP members that have proposals separate from the IEP package
should also provide IEP a copy.

-- Attached is the most recent tracking report which includes all the
special session bills introduced to date.

UPCOMING EVENTS:

-- The Assembly ECA committee will continue debate on AB 18x on Monday and
Tuesday, hopefully concluding on Wednesday for a vote on the final package.
Time, TBA.

-- The Senate Appropriations Committee will meet and vote on AB 1x on Monday
at 10 am.

--end--

Julee Malinowski-Ball
Senior Associate
Edson + Modisette
916-552-7070
FAX-552-7075
jmball@ns.net

 - 2001 Tracking Report.doc


FYI.

Bob

---------------------- Forwarded by Robert Cotten/HOU/ECT on 12/07/2000 10:12
AM ---------------------------

Nick Moshou@ENRON
12/07/2000 10:13 AM
To: Christy Sweeney/HOU/ECT@ECT, Gary Bryan/HOU/ECT@ECT
cc: Vance L Taylor/HOU/ECT@ECT, Robert Cotten/HOU/ECT@ECT
Subject: Re: Spinnaker - Supply Verification 11958SU - October 2000
production

Christy,

Per our conversation I have attached below the updated version of the
Reallocation difference.   Texas General Land received 21.8945% of the total
volume which was 55,645 mmbtu.  After updating the spreadsheet Spinnaker will
owe HPL approximately $36,000.

Thanks,
Nick


are you guys still in for dinner tonight.......6:30 at our place!    give me
a call @ worrk 713-853-6203


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 03/19/2001
12:04 PM ---------------------------

	From:  Jason Sokolov                           03/16/2001 10:25 AM

To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: 2 missing from the mailing list

hingoran@rice.edu
planck@rice.edu


Please send me the latest version of our multi-pollutant and cap and trade proposals

 -----Original Message-----
From: 	Jacobson, Lisa
Sent:	Monday, August 06, 2001 1:39 PM
To:	Keeler, Jeffrey; Robertson, Linda; Terraso, Michael; Kean, Steven J.
Cc:	Shortridge, Pat; Schoen, Mary; Bolton, Stacey; Mainzer, Elliot; Lei, Wayne; Howley, Elizabeth; Mitchell, Heather; Woods, Trevor; Landwehr, Susan M.; Nicolay, Christi L.; McKalip-Thompson, Catherine; Profir, Diana; Styles, Peter; Badger, Dan; Devlin, Brendan; Bauer, Kate; Grant, Fiona; Mcclellan, George; Massey II, John; Mcgowan, Kevin; Schroeder, Mark; Steffes, James D.; Migden, Janine; 'Philip Davies/LON/ECT@ENRON'; 'Alfredo Huertas/LON/ECT@ENRON'; Duvauchelle, Antoine; Bradley, Rob; Boyd, Hap; Brodbeck, Kelly; Schmidt, Ann M.; Nersesian, Carin; Stram, Bruce; Moses, Edwin; Stringer, Alan; Eghneim, Gus; Dindarova, Nailia; Dadson, Aleck; Worthen, Susan; Norton, Dennis; Fuller, Daniel; Van, Henry; Redshaw, Louis; Boddy, Michael; Meyer, Vance; Palmer, Mark A. (PR); Thorn, Terence H.; Taylor, Michael E; Burns, Stephen; Long, Chris; Shapiro, Richard; Shelk, John
Subject:	McCain, Lieberman Urge GHG Reductions - White House to "Likely" Offer Alternative by COP-7

Before leaving for the August congressional recess, Senator John McCain (R-AZ) and Senator Joseph Lieberman (D-CT) made a joint statement on the Senate floor calling for an economy-wide cap and trade program to reduce greenhouse gas emissions.  Please see the attached copy of their floor statements.
They laid out a timeframe for consultation with stakeholders, including U.S. industry, and development of legislation this fall.
This follows a series of legislative activity in the Senate since the conclusion of the international climate change negotiations in Bonn, Germany in July.  At the talks, without the support and direct participation of the U.S., nations agreed to continue to develop the rules for the Kyoto Protocol with a target date for ratification by 2002.
Other Senate activity includes:
Committee approval of climate change legislation sponsored by Senator Robert Byrd (D-W.Virginia) and Senator Ted Stevens (R-AL).  The bill would require development of a U.S. climate change response strategy with a long-term goal of stabilizing greenhouse gas emissions in the U.S.  The strategy would seek ways to mitigate emissions and promote technology innovation, climate adaptation research and efforts to resolve scientific and economic uncertainties.  It would authorize spending of $4.9 billion over 10 years.
Passage of a non-binding resolution in the Senate Foreign Relations committee calling for the U.S. to engage in the climate change negotiations.
Introduction of legislation by Senator Frank Murkowski (R-AL), Senator Chuck Hagel (R-NE), Senator Larry Craig (R-ID) and others that provide for tax incentives for energy efficiency and clean energy technologies, increased research on climate science and government coordination on climate change.
Introduction of legislation by Senator Sam Brownback (R-KS) and Senator Ron Wyden (D-OR) to enable reporting and provide credit for land management and sequestration under a national climate change program.
Upcoming Administration and Congressional Activity
Despite statements made last week by EPA Administrator Christine Whitman and National Security Advisory Condolezza Rice, White House Chief of Staff Andrew Card said yesterday that the Bush Administration would likely have an alternative climate change proposal for consideration at the next negotiations in Morocco in late-October.
A key issue remains whether the Bush Administration will support mandatory programs to reduce greenhouse gas emissions, like a domestic cap and trade system.  In March, President Bush said he would not support mandatory regulation of carbon dioxide emissions at power plants.  As recent events suggest, consideration of mandatory programs and emissions trading, including regulation of carbon, will be on the Senate agenda this fall.   Approaches to reduce greenhouse gas emissions will be considered through hearings and committee consideration of climate change legislation, multipollutant proposals and New Source Review reform.
Enron's Advocacy
Enron will continue to promote its multipollutant proposal as a model for a domestic cap and trade program -- that could also provide a framework to address carbon emissions.  We will also offer our expertise on emissions trading and risk management to the Administration and Congress as they consider options to address climate change.
I will keep you posted on the status and movement on these legislative proposals.  Please feel free to contact me with questions about any of these proposals.
Please see links to several related news stories below:
Aide: Bush Warming Plan Likely
Card Is 'Optimistic' Kyoto Alternative Will Be Ready by Fall
http://www.washingtonpost.com/wp-dyn/articles/A35811-2001Aug5.html
McCain, Lieberman Urge Greenhouse Gas Curbs
Senators Press Bush on Global Warming
http://www.washingtonpost.com/wp-dyn/articles/A29163-2001Aug3.html
 << File: liebmccain.statements.doc >>

Lisa Jacobson
Enron
Manager, Environmental Strategies
1775 Eye Street, NW
Suite 800
Washington, DC 20006

Phone: +(202) 466-9176
Fax: +(202) 331-4717


The Fundamentals group is giving a presentation Thursday, Feb 7th from 2-4 in room ECS06990.

The topic will be the Gas Market.

Thanks,

Amanda Rybarski
Gas Fundamentals
Office: (713) 853-4384
Fax: (713) 646-8453
Pager: (877) 482-0772
Cell: (713) 560-0934


<<2RR404!.DOC>>

Kay:

An updated closing checklist for the ENA / SEL transaction is attached.

Carolyn M. Campbell
King & Spalding
713-276-7307 (phone)
713-751-3280 (fax)
ccampbell@kslaw.com <mailto:ccampbell@kslaw.com>

Enclosure: 129280v4

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

 - 2RR404!.DOC


Please respond to Mike Curran
Ok - thanks.

----- Original Message -----
From: <Vince.J.Kaminski@enron.com>
To: "Mike Curran" <mcurran@quantinleap.com>
Cc: <Stinson.Gibner@enron.com>; <Vince.J.Kaminski@enron.com>
Sent: Monday, April 30, 2001 11:34 PM
Subject: Re: Willow and Pathstar evaluations

>
> Mike,
>
> We are short manpower in London. We shall try to
> evaluate the software in Houston.
>
> Vince
>
>
>
>
>
> "Mike Curran" <mcurran@quantinleap.com> on 04/24/2001 10:03:24 AM
>
> Please respond to "Mike Curran" <mcurran@quantinleap.com>
>
> To:   <vkamins@enron.com>
> cc:
> Subject:  Willow and Pathstar evaluations
>
>
>
> Hi Vince -
>
> Hope all is well with you.
>
> Sharad hasn't had time to evaluate our Willow Tree or Monte Carlo software
> since the middle of last year.  Is there somebody else that could do it?
>
> Please let me know who I should send the evaluation to.
>
> Best Regards,
>
> Michael Curran
> CEO
> Quantin' Leap Limited
> Piercy House
> 7 Copthall Avenue
> London EC2R 7NJ
>
> Tel: +44 (0)20 7562 3450
> Fax: +44 (0)20 7562 3411
>
> mailto:mcurran@quantinleap.com
>
> http://www.quantinleap.com
>
>
>
>
>
>
>
>
>
>
>


AGENT JH/SS BOOKING REF
ZDJU5U

                                          KEAVEY/PETER

  ENRON
  1400 SMITH
  HOUSTON TX 77002
  PETE X37277

  DATE:  MAY 11 2001                   ENRON

SERVICE               DATE  FROM           TO             DEPART
ARRIVE

CONTINENTAL AIRLINES  03AUG HOUSTON TX     NEW YORK NY    115P    559P
CO 1970    V          FRI   G.BUSH INTERCO LA GUARDIA
                            TERMINAL C     TERMINAL M
                            SNACK                         NON STOP
                            RESERVATION CONFIRMED         3:44 DURATION
                  AIRCRAFT: BOEING 737-300
                            SEAT 06C NO SMOKING CONFIRMED KEAVEY/PETER

CONTINENTAL AIRLINES  13AUG NEW YORK NY    HOUSTON TX     259P    558P
CO 1975    V          MON   LA GUARDIA     G.BUSH INTERCO
                            TERMINAL M     TERMINAL C
                            SNACK                         NON STOP
                            RESERVATION CONFIRMED         3:59 DURATION
                  AIRCRAFT: BOEING 737-300
                            SEAT 06C NO SMOKING CONFIRMED KEAVEY/PETER

      AIR FARE 241.86       TAX 26.64           TOTAL USD
268.50

                                        INVOICE TOTAL USD
268.50

PAYMENT: CCCA5490850070001643/1101/A011782

RESERVATION NUMBER(S)  CO/MVYLGL

KEAVEY/PETER                             TICKET:CO/ETKT 005 7028381410

CO  FREQUENT FLYER COWH845429
**CONTINENTAL RECORD LOCATOR: MVYLGL
THIS IS A TICKETLESS RESERVATION. PLEASE HAVE A
ICTURE ID AVAILABLE AT THE AIRPORT. THANK YOU
***********************************************
NON-REFUNDABLE TKT MINIMUM $100.00 CHANGE FEE
                  THANK YOU FOR CALLING VITOL TRAVEL

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


Hi:
The big money making floor?   I don't think I like that.  Too much
pressure...what happens if we screw up?

I went to the website and clicked on the link but all I got was a mess of
characteres and symbols.  Any ideas how I fix it?
John

From: Margaret Allen@ENRON on 09/26/2000 03:30 PM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: Re: Screen shots

Hey John,

Did you check out the new spots?!!!  They are posted on the Intranet
(home.enron.com).  Let me know what you think!  Hope all is well down there
on the 'big money making' floor.

Have a good one, Margaret


FYI,

The next Outage Coordination Commercial Review meeting is 01/09/02.  The purpose for the meeting is to discuss outages that have a flow impact for the month of February & March 2002. Please review the attached outage report. If you have any questions, please give me a call.

Jerry Graves
713-345-8923

When: January  9
Time:  1:00 to 2:00
Where: Houston 42C2
             Omaha  VCR - 6th floor
             Field - Conference # 877-795-3687
                        Code # 755555

NORTHERN BORDER PIPELINE

 	Location	Date	Scope	Comments
NB	CS13	01/10/02 to 01/10/02	Wash GG, and MP2.  (10 hrs)	Potential impact is low.
NB	CS09	01/14/02 to 01/16/02	Unit Exchange, and emissions test.	Potential impact is low.
NB	CS11	02/19/02 to 02/19/02	Wash GG, and MP2.  (10 hrs)	Potential impact is low.
NB	CS12	03/05/02 to 03/05/02	Wash GG, and MP2.  (10 hrs)	Potential impact is low.


Hi Pete,

We will want to get the CofA contract fixed up shortly.  I don't remember if
we have addressed these issues.  I do think that GE may resist the combined
cycle language, and I don't suggest including it.  Eric, can you still live
with that?

Thanks,

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 05/09/2001 08:21
AM ---------------------------
From: Eric Booth@ENRON_DEVELOPMENT on 11/28/2000 06:01 PM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: Austin - S&S Contract

---------------------- Forwarded by Eric Booth/ENRON_DEVELOPMENT on
11/28/2000 06:00 PM ---------------------------

	Enron Engineering & Construction Company
	From:  Eric Booth                           11/28/2000 04:52 PM

To: Eric Boyt/Corp/Enron@Enron
cc: Jeffrey M Keenan@ECT, Terri Austin/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Kathleen Clark/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Kay Mann@ENRON

Subject: Austin - S&S Contract

Eric-

I revised the contract you sent me to make it site specific.  Those changes
are redlined.  Please note that I have reinserted sections 10.4.1 and 10.4.3
as well as the defined terms that go with them.  These were related to
exhaust temperature and energy.  I know this is a simple cycle plant and they
typically aren't required, but I wanted to see if GE would guarantee it
anyway.  It maybe helpful in the future if Austin Energy goes combined
cycle.  If for some reason GE's lawyers specifically want to leave that out,
then they will probably also want to delete sections 10.4.2 and 10.4.4 (and
their defined terms) since those also talk about specific exhaust
guarantees.  Let me know what they decide.

Exhibit A (site basis conditions) which I also revised was not attached to
your file.  (It's right behind the sign-off pages in my hard copy.)  I
therefor hand marked up a copy and scanned it.  It is now attached as a
separate word file.

Exhibit F is "boiler plate" and shouldn't change.  Exhibit "U" is not in my
hard copy.  My copy only goes up to Exhibit "T."   If you get something from
GE on Exhibit "U", send it to me and I will be glad to review it.

If you have questions, give me a call.  (67550)  I will be in Ausitn
Wednesday and Thursday, but will be available by cell phone (713) 412-6873.

Thanks,
Eric Booth


Any sign?

Louise Kitchen
Chief Operating Officer
Enron Americas
Tel:  713 853 3488
Fax: 713 646 2308


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Texas Instruments' High-Performance 4-20mA Transmitter Targets
Temperature And Bridge Sensors'Smart' Programmable Device Reduces Manufacturing
Costs By Offering Digitally-Controlled Adjustments

TUCSON, Ariz., Jun 1, 2001 /PRNewswire via COMTEX/ -- Texas Instruments
Incorporated (NYSE: TXN) (TI) today announced a "smart" programmable 4-20mA
current-loop transmitter from the company's Burr-Brown product line designed for
temperature and bridge sensor applications, as well as remote data acquisition,
weighing systems, and industrial process control. See
http://www.ti.com/sc/aap6372u.

The high-performance XTR108 allows for digital calibration of sensor and
transmitter errors via a standard digital serial interface, eliminating
expensive potentiometers or circuit value changes. Calibration settings can be
stored in an inexpensive external EEPROM for easy retrieval during routine
operation.

Digitally-controlled adjustments dramatically reduce manufacturing costs and
allow companies to build a single sensor design to serve a wide range of needs.
Individual units can be stocked and later programmed and reprogrammed for any of
hundreds of possible end-customer specifications (special temperature ranges,
etc.). Sensors can also be reprogrammed in the field, if necessary.

"By allowing the user to digitally adjust the gain, offset and linearity of the
analog output, the XTR108 eliminates the need for manual trimming of
potentiometers and the costs associated with this process," said John Brown,
strategic marketing engineer for TI's High-Performance Linear products.
"Furthermore, among the very few similar ICs on the market, the XTR108 provides
more versatile multi-channel input and excitation multiplexing."

The XTR108's wide programmable gain amplifier (PGA) range allows full- scale
inputs from 5 to 320mV. The all-analog signal path contains a built-in
sub-regulator, voltage reference, input multiplexer, autozeroed PGA, dual
programmable current-sources, linearization circuit, internal oscillator,
control logic, and an output current amplifier.

Current sources directed through the multiplexer can be used to excite RTD
temperature sensors, pressure bridges, or other types of transducers. The
XTR108's uncommitted op amp can be used to convert current into a voltage, or
for four-wire RTD circuits.

Functionally, a 4-20mA transmitter provides accurate transmission of analog
signals from sensors (used to monitor physical parameters in industrial
processes such as temperature and pressure) to remotely located measurement
equipment. The sensor signal is amplified, linearized, and transmitted in the
form of current with no power supply required at the transmitter site. 4-20mA
current loops are not affected by line resistance and are much more immune to
electrical interference.

Available Today

The XTR108 is available now and is packaged in an SSOP-24. Suggested resale
pricing is $3.45 in 1,000 piece quantities. The device is specified for -40
degrees Celsius to +85 degrees Celsius temperature range.

Texas Instruments Incorporated is the world leader in digital signal processing
and analog technologies, the semiconductor engines of the Internet age. The
company's businesses also include sensors and controls, and educational and
productivity solutions. TI is headquartered in Dallas, Texas, and has
manufacturing or sales operations in more than 25 countries.

Texas Instruments is traded on the New York Stock Exchange under the symbol TXN.
More information is located on the World Wide Web at: http://www.ti.com.

     Please refer all reader inquiries to:  Texas Instruments Incorporated
                                            Semiconductor Group, SC-01108
                                            Literature Response Center
                                            P.O. Box 954
                                            Santa Clarita, CA  91380
                                            1-800-477-8924, ext. 4500

                    MAKE YOUR OPINION COUNT -  Click Here
               http://tbutton.prnewswire.com/prn/11690X30168334

SOURCE Texas Instruments Incorporated Semiconductor Group

CONTACT:          Texas Instruments Incorporated Semiconductor Group,
                  800-477-8924, ext. 4500

URL:              http://www.ti.com/sc/aap6372u
http://www.prnewswire.com

(C) 2001 PR Newswire.  All rights reserved.

-0-

KEYWORD:          Texas
                  Arizona
INDUSTRY KEYWORD: CPR
SUBJECT CODE:     PDT

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> -
> > > > > > > A farmer got pulled over by a state trooper for speeding,? and
the trooper started to lecture the farmer about his speed, and in general
began to throw his weight around to try to make the farmer uncomfortable.

Finally, the trooper got around to writing out the ticket, and as he was
doing that he kept swatting at some flies that were buzzing

around his head.? The farmer said, "Having some problems with circle flies
there, are ya?"
The trooper stopped writing the ticket and said- "Well yeah, if that's what
they are-I never heard of circle? flies."
So the farmer says-"Well, circle flies are common on farms. See,? they're
called circle flies because they're almost always

found circling around the back end of a horse."
The trooper says, "Oh," and goes back to writing the ticket. Then after a
minute he stops and says, "Hey...wait a minute, are you

trying to call me a horses ass?"
The farmer says, "Oh no, officer. I have too much respect for law enforcement
and police officers to even think about calling you

a horses ass."
The trooper says, "Well, that's a good thing," and goes? back to writing the
ticket.
After a long pause, the farmer says, "Hard to fool them flies though."
> > > > > >
>


As part of our monthly testing we review the monthly Natural Gas P & L
Statement
and identify specific regions for which we would like to review additional
documentation.  Please find below, the regions that we have identified.  We
are
requesting that you supply the P & L top pages for the last day of the month
for
those regions that are applicable to you.  Once we have reviewed these top
pages, we will be contacting you to discuss the drivers of these regions.
Please let me know if you have any questions or comments.

Also, please find below a list of those P&L Top pages requested for January
that
are still outstanding.  Please forward this correspondence to any responsible
parties not included in this e-mail.

Thank You,

Mark Austin
Arthur Andersen
ext. 68680

                  February NG P&L                            January
Outstanding
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KRTH? 9:10 - 9:55 JP Pritchard 630-3600