Chemistry is very important to me and I am rewarding Carson for his loyalty and "low maintenance".   In addition, he demonstrated much improved risk management skills that last 6 months of last year.   Mike (working for Fletch) is very capable and will do a great job for us in the SE.    Eric Saibi will come over from ERCOT and run the cash books in the SE.

I will be happy to talk Marcello to see if there is another fit.    With respect to the NE, I also want to move some of the young guys up - they have worked hard for the past 12-18 months in real-time and fundies roles and deserve a chance before an outside person.

-----Original Message-----
From: Kitchen, Louise
Sent: Sunday, February 03, 2002 7:37 PM
To: Presto, Kevin M.
Subject: RE: Marcello Romano

Do you really have someone as capable as Marcello.  This is an outstanding trader who we probably have no chance of getting but could run any desk we have.  Is your SE guy of that quality?

-----Original Message-----
From: Presto, Kevin M.
Sent: Saturday, February 02, 2002 6:19 PM
To: Kitchen, Louise; Lavorato, John; Whalley, Greg
Subject: RE: Marcello Romano

I have already moved someone from ERCOT to SE Power.   We are set.

-----Original Message-----
From: Kitchen, Louise
Sent: Sat 2/2/2002 10:55 AM
To: Lavorato, John; Whalley, Greg; Presto, Kevin M.
Cc:
Subject: Marcello Romano

Marcello is coming to Houston tomorrow to interview for a position trading financial gas.  I really think if we have any spare trading slots we should talk to him.  Kevin - what about South East power?

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


Here are the final Lay slides for Montreal.

- ROB

---------------------- Forwarded by Rob Bradley/Corp/Enron on 05/23/2000
08:43 AM ---------------------------
Shant Donabedian   05/22/2000 06:35 PM

To: Andrew Miles/HOU/EES@EES, Rob Bradley/Corp/Enron@ENRON
cc:

Subject: Ken Lay Presentation - Final

Shant Donabedian


Starting tomorrow 11/1/00,  SPS firm purchase will be a maximum of 50mw's.
This information is per Kathy at EPE.


The pressure on the PUC is getting strong.  Could be a move by Davis' office to get folks to support the Assembly bill as a preferrable alternative to the July 1 date now included in the PUC draft.

Best,
Jeff

-----Original Message-----
From: JBennett [mailto:JBennett@GMSSR.com]
Sent: Monday, August 27, 2001 6:41 PM
To: Frank, Robert; Dian Huddleson (E-mail); Kingerski, Harry; Gordon
Savage (E-mail); Jim Steffes (E-mail); Smith, Martin; Williams, Robert
C.; Sue Mara (E-mail); Jeff Dasovich (E-mail)
Subject: FW: Revised Draft Decision Re: Suspension of Direct Access
Importance: High

Attached is proposed deicison from ALJ Barnett suspending DA as of July
2001. Comments are due Sept. 4 by 10:00 a.m.
-----Original Message-----From: Wong, John S. [mailto:jsw@cpuc.ca.gov]
Sent: Monday, August 27, 2001 4:19 PM
To: 'kmccrea@sablaw.com'; 'mFerrara@apsc.com'; 'napedersen@jonesday.com';
'douglass@energyattorney.com'; 'beth.fox@sce.com'; 'shotwejp@sce.com';
'dclark@sempra.com'; 'mshames@ucan.org'; 'rclark@coral-energy.com';
'btenney@landuselaw.com.'; 'furutanj@efawest.navfac.navy.mil';
'bfinkelstein@turn.org'; Yun, Sindy J.; 'ek@a-klaw.com';
'jlondon@gralegal.com'; 'ktilton@gralegal.com'; 'jlkm@pge.com';
'phanschen@mofo.com'; 'jbennett@gmssr.com'; 'bgex@skjerven.com';
'edwardoneill@dwt.com'; 'wbooth@booth-law.com'; 'mgomez1@bart.gov';
'abb@eslawfirm.com'; 'BJulian2@aol.com'; 'lmh@eslawfirm.com';
'pstohr@dbsr.com'; 'kmills@cfbf.com'; 'mpa@a-klaw.com';
'DavoodiKR@efaches.navfac.navy.mil'; 'ad046@detroit.freenet.org';
'mbrubaker@consultbai.com'; 'jsmollon@newwestenergy.com';
'rkeen@manatt.com'; 'kcheh@omm.com'; 'chrisk@cellnet.com';
'fosterbc@sce.com'; 'jpeck@sempra.com'; 'mpatel@brownwoodlaw.com';
'rrh3@pge.com'; 'jasonm@newsdata.com'; 'derkp@newsdata.com';
'chilen@llgm.com'; 'blunden@hotmail.com'; 'maxian_miriam@jpmorgan.com';
'ssmyers@worldnet.att.net'; 'rbw@mrwassoc.com'; 'rschmidt@bartlewells.com';
'brbarkovich@earthlink.net'; 'blaising@braunlegal.com'; 'karen@klindh.com';
Stevens, Maria E.; Fest, Anthony D.; Blunt, Christopher J.; Lafrenz, Donald
J.; Hattevik, Kerry; Barnett, Robert A.; Rayburn, William H.;
'jgl@cpuc.ca.gov'; 'fdeleon@energy.state.ca.us'
Subject: Revised Draft Decision Re: Suspension of Direct Access

Attached is the revised draft decision of ALJ Barnett in A.98-07-003 et al.
This draft decision is on the Commission's September 6, 2001 agenda.

Comments are to be filed on September 4, 2001 by 5:00 pm.  However, an
electronic version must be served no later than 10:00 am on that date to
those persons who have electronic addresses.

Appendix A of the draft decision is the June 12, 2001 three page memo to
"Interested Parties--DWR Power Purchase Program" from the State Treasurer,
Dept. of Finance, and DWR.  That document in PDF format will be available
shortly at the Commission's website, along with the revised draft decision.

John S. Wong
ALJ - CPUC
<<Formatted Direct Access DD.doc>>


Would you like to set up this meeting or would you like me to?  I would like
to get this Koch thing resolved ASAP, so I think the sooner, the better.
From Legal's side, both Mary Cook and I need to be included, I spoke to
Credit and both Walter Guidroz and Tom Moran would like to be included,
probably Joe Hunter from the Confirm Desk as well, and anyone else you're
aware of.  Let me know how you think we should proceed.


TODAY'S HEADLINES
The New York Times on the Web
Sunday, May 13, 2001
------------------------------------------------------------
For news updated throughout the day, visit www.nytimes.com

QUOTE OF THE DAY
=========================

"You can say we have discovered a new ancient civilization."

- FREDRIK T. HIEBERT, an archaeologist, on a civilization that thrived in
Central
Asia more than 4,000 years ago.

Full Story:
http://www.nytimes.com/2001/05/13/world/13LOST.html

NATIONAL
=========================

Drug Labs in Valley Hideouts Feed Nation's Habit
http://www.nytimes.com/2001/05/13/national/13METH.html

Energy Industry Raises Production at a Record Pace
http://www.nytimes.com/2001/05/13/national/13ENER.html

What Happened to the McVeigh Evidence?
http://www.nytimes.com/2001/05/13/national/13EXEC.html

Warnings Don't Sway Watermen's Faith in the Blue Crab
http://www.nytimes.com/2001/05/13/national/13BAY.html

/--------------------- ADVERTISEMENT ---------------------\

What's ahead for business in 2001?

Get the Times's perspective on business and the economy in
2001, both foreign and domestic. Explore our Web exclusive
interactive timeline of business in 2000 that ranges from
the AOL Time Warner merger to the plunging Nasdaq with an
essay by Floyd Norris, the Times's senior financial
correspondent.

http://www.nytimes.com/library/financial/2001outlook1-index.html?ibd
\---------------------------------------------------------/

POLITICS
=========================

Cheney Ever More Powerful as Crucial Link to Congress
http://www.nytimes.com/2001/05/13/politics/13CHEN.html

White House Is Denying Pulling In Welcome Mat
http://www.nytimes.com/2001/05/13/politics/13TOUR.html

Bush Plans Incentives for Energy Conservation
http://www.nytimes.com/2001/05/13/politics/13RADI.html

S.E.C. Nominee Did Legal Work for Sex-Related Media Firm
http://www.nytimes.com/2001/05/13/politics/13SEC.html

INTERNATIONAL
=========================

True English Murder Mystery: Town's Trusted Doctor Did It
http://www.nytimes.com/2001/05/13/world/13KILL.html

Ending Violence Is a Central Issue for Basque Elections
http://www.nytimes.com/2001/05/13/world/13SPAI.html

Germany's Uneasy Debate on Immigration Deepens
http://www.nytimes.com/2001/05/13/world/13GERM.html

After Tough Election Battle, Italy Begins Voting
http://www.nytimes.com/reuters/world/world/italy-election.html

BUSINESS
=========================

Comair Pilots Reject Proposal to End Strike
http://www.nytimes.com/2001/05/13/business/13AIR.html

What Have E-Consultants Wrought?
http://www.nytimes.com/2001/05/13/technology/13GURU.html

At Annual Meetings Around the World, the Shots Aren't Heard
http://www.nytimes.com/2001/05/13/business/13MEET.html

Market Watch: A Request for the Boss-to-Be at the S.E.C.
http://www.nytimes.com/2001/05/13/business/13WATC.html

TECHNOLOGY
=========================

What Have E-Consultants Wrought?
http://www.nytimes.com/2001/05/13/technology/13GURU.html

Don't Bet Your Cybersavings on Video-Game Spinoffs
http://www.nytimes.com/2001/05/13/arts/13SCHW.html

Working the Web for Hotel Rooms
http://www.nytimes.com/2001/05/13/travel/13CYBER.html

The Peculiar Ruins of the New Economy
http://www.nytimes.com/2001/05/13/magazine/13SERVERFARM.html

NEW YORK REGION
=========================

At Hale House, Broken Bonds and Pain for a Little Girl Lost
http://www.nytimes.com/2001/05/13/nyregion/13HALE.html

Special Education Debate Shifts From Money to New Ideas
http://www.nytimes.com/2001/05/13/nyregion/13EDUC.html

Mayoral Candidates Seek Support at Teachers' Convention
http://www.nytimes.com/2001/05/13/nyregion/13CLIN.html

Search for Suspects Narrows in Fatal Shooting Atop Deli
http://www.nytimes.com/2001/05/13/nyregion/13SHOO.html

SPORTS
=========================

Devils Leave Penguins Down in the Dumps
http://www.nytimes.com/2001/05/13/sports/13DEVI.html

Steinbrenner's Unusual Approach: Hands Off the Devils
http://www.nytimes.com/2001/05/13/sports/13ANDE.html

Trinidad Stops Joppy in 5th Round
http://www.nytimes.com/2001/05/13/sports/13FITE.html

Yanks Get Some Help From Stars Out of Past
http://www.nytimes.com/2001/05/13/sports/13YANK.html

ARTS
=========================

'Apocalypse' Then, and Now
http://www.nytimes.com/2001/05/13/arts/13THOM.html

Sequels and Remakes Aiming to Be the Same, but You Know,
Different
http://www.nytimes.com/2001/05/13/arts/13LYMA.html

Perry Como, Relaxed and Elegant Troubadour of Recordings and
TV, Is Dead at 88
http://www.nytimes.com/2001/05/13/obituaries/13COMO.html

Douglas Adams, Author of 'Hitchhiker's Guide to the Galaxy,'
Dies at 49
http://www.nytimes.com/aponline/obituaries/AP-Obit-Adams.html

OP-ED COLUMNISTS
=========================

By MAUREEN DOWD: Space Cowboys Inc.

I have an idea for a futuristic political thriller science
fiction space Western black comedy with a stylish film noir
mood.

http://www.nytimes.com/2001/05/13/opinion/13DOWD.html

By PAUL KRUGMAN: Nation in a Jam

The nation has been making some bad choices about energy
use, and about lifestyles more generally.

http://www.nytimes.com/2001/05/13/opinion/13KRUG.html

HOW TO CHANGE YOUR SUBSCRIPTION
------------------------------------------------------------
You received these headlines because you requested The New
York Times Direct e-mail service. To cancel delivery, change
delivery options, change your e-mail address or sign up for
other newsletters, see http://www.nytimes.com/email

HOW TO ADVERTISE
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other creative advertising opportunities with The New York
Times on the Web, please contact Alyson Racer at
alyson@nytimes.com or visit our online media kit at
http://www.nytimes.com/adinfo


Judy said that because I'm so busy, you probably shouldn't bother me with
this doyal stuff.  She wants to handle that.

I luv her!!
---------------------- Forwarded by Chris Germany/HOU/ECT on 11/28/2000 03:50
PM ---------------------------

	From:  Jim Homco                           11/27/2000 10:03 AM

To: Judy Townsend/HOU/ECT@ECT, Victoria Versen/HOU/ECT@ECT, Chris
Germany/HOU/ECT@ECT
cc:
Subject: Revised # 3

OK so now IT is open ...
   Bottom line I would like to call on 6970 at sta 85 ( 6838 delivered).
    Let me know what days you are going to enter the call...


You have received this email because you are listed as an alternate data
approver. Please click
http://itcapps.corp.enron.com/srrs/auth/emailLink.asp?ID=000000000005409&Page=
Approval to review and act upon this request.

Request ID          : 000000000005409
Approver            : stinson.gibner@enron.com
Request Create Date : 10/23/00 8:47:14 AM
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Resource Type       : Directory


Tetco MDQ's for OCT

k#  MDQ  Delivery Receipt
892510  16136  M3  Access (same as last month)
892511  7500  M3  Access (same as last month)
893145  5000  M3  Access (same as last month)
892875  9400  M3  Access (same as last month)

892872  19355  M2  Access (same as last month - this # may be too high)
894029  5000  M2  Access (new)
894028  5000  M2  ELA (new)

VNGk#
830015  10555  M2  Access (MDQ is higher but only use 10,555 dth)


Tomorrow is best for me.  I will make reservations as Massas across the
street.  Does that work for you.  Around 11:45?

Queen28cmh@aol.com on 05/29/2001 01:12:05 PM
To: <shorton@enron.com>
cc:

Subject: lunch

I am free for lunch both Wednesday and Thursday so whichever is better for
you is fine with me or we could do both days.  Just let me know what you
would like to do.  I know Mom still has that magazine so I'll get it from her
so you can read through the golf info.  I hope you're having a good day.
I'll talk to you tonight.  I love you!!!
Love,
Caron


Folks-
Please see attached an important memo regarding the future plans and
finances of the CA Energy Solutions Group. Thank you all for a  hectic, but
great, year. :-) Happy Holidays!!

Many thanks,
Delaney


Please prepare a draft ISDA based on the attached credit worksheet.  Please
forward to Elliot Bonner for distribution.

Thanks,
Tanya


Dan , if he brings this one home, will be a hero.
---------------------- Forwarded by Richard Shapiro/HOU/EES on 05/04/2000
01:17 PM ---------------------------
From: Christi L Nicolay@ECT on 05/04/2000 10:52 AM
To: Richard Shapiro/HOU/EES@EES
cc:
Subject: IMPORTANT NEPOOL ICAP: See the attached from Phil Pellegrino

---------------------- Forwarded by Christi L Nicolay/HOU/ECT on 05/04/2000
10:52 AM ---------------------------

John Llodra@ENRON
05/04/2000 06:36 AM
To: NEPOOL Power Trading Group, Christi L Nicolay/HOU/ECT@ECT
cc:
Subject: IMPORTANT NEPOOL ICAP: See the attached from Phil Pellegrino

Way to go ISO-NE!  Hats off to Dan Allegretti for nurturing this outcome!

---------------------- Forwarded by John Llodra/Corp/Enron on 05/04/2000
07:33 AM ---------------------------

Customer Service at ISO-NE <custserv@iso-ne.com> on 05/03/2000 06:51:59 PM
To: NEPOOL Participant Committee <npmc@iso-ne.com>
cc:

Subject: See the attached from Phil Pellegrino

 <<Pellegrino letter>>  <<necessary changes>>  <<findings>>  <<Exhibit A>>

 - Pellegrino letter.doc
 - necessary changes.doc
 - findings.doc
 - Exhibit A.xls


Start Date: 1/3/02; HourAhead hour: 5;  No ancillary schedules awarded.  Variances detected.
Variances detected in Load schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002010305.txt

---- Load Schedule ----
$$$ Variance found in table tblLoads.
     Details: (Hour: 5 / Preferred:  14.21 / Final:  14.18)
  TRANS_TYPE: FINAL
  LOAD_ID: PGE4
  MKT_TYPE: 2
  TRANS_DATE: 1/3/02
  SC_ID: ENRJ


Sunday, November 26, at approximately 10:30 CST, EIGRP (routing protocol)
neighbor connections between the Portland router and the Houston router began
to timeout.  The frequency of this occurrence was mentioned in the previous
email from Phillip Platter.  The problem cleared up at 16:56 CST.  When
debugging the problem, all test results pointed to a problem on the EIN.
However when the EBS NOC was contacted, they informed us that there had been
no known network issues or scheduled changes.  Because of what I experienced
while debugging, I had an EBS network engineer come to my office this morning
to  walk thru the historical log data of physical devices within the Houston
to Portland path.  The problem was finally pinpointed to an EIN DS3 link .  A
GSR router to which this link was attached was losing OSPF neighbor
connections with it's peer on the other side of the link due to a bouncing
interface, thus causing the EIGRP neighbor connectivity errors.

Realizing this is a critical link on which 24x7 trading is conducted, the
following actions items will be addressed:
? We will be implementing our own monitoring device (currently only able to
monitor up/down/response time) on the edge of the EIN in an attempt to more
proactively monitor the path being utilized.
? I will verify with EBS that all appropriate devices are being monitored by
the NOC and that a notification process be implemented (should include both
problem and change notification).
? I will push the issue of gaining access to the EIN edge router.  This will
allow us to more efficiently troubleshoot/manage/monitor EIN link status and
errors.  Knowing the error type and frequency will allow for quicker
determination on severity and, therefore, implementation of secondary
solutions.

Arshak,
Because of the following concerns, it appears to me that the NOC is not
appropriately monitoring EIN devices and, in return, negatively impacting
Enron business.  I am copying you on this note because I need your assistance
in identifying a contact for the NOC in which to communicate these concerns
and to work with in implementing processes to help alleviate future issues.

Concerns:
? Time required to fix this problem (6.5 hours - I think it finally cleared
up on its own)
? The lack of notification or knowledge on the problem
? The erroneous information being communicated to the customer (Enron Net
Works) .

Keith

 -----Original Message-----
From:  Dietrich, Dan
Sent: Monday, November 27, 2000 9:35 AM
To: Belden, Tim; O'Neil, Murray
Cc: Cox, Chip; Willigerod, Diana; Abu-Khalaf, Sammy; Bruce
Smith/HOU/ECT@ENRON; Poston, David; Nat, Steve; Dziadek, Keith; Richter,
Jeff; Forney, John; Guzman, Mark; Causholli, Monika
Subject: IT problems Sunday

Tim and Murray,

Yesterday the real-time desk experienced dropped Terminal Server (TS)
sessions which impacted their productivity. Diana and Chip contacted the
network team in Houston to assist with troubleshooting the problem. Keith
Dziadek monitored the DS3 VPN connection between Portland and Houston and has
determined that it is the dynamic fail-over within the Enron Intelligent
Network (EIN) which is causing the dropped TS sessions. This dynamic
fail-over is a good thing. Our issue is that the sensitivity of the TS
sessions is so high that the time of the dynamic fail-over on the EIN causes
them to drop while all other applications (i.e. Enpower running locally in
Portland) are not affected.

Keith is meeting with his team in Houston as well as staff from EBS today to
form an action plan. Once the action plan has been established, Keith or I
will communicate what and when it will be done to you via email.

You can reach me on my cel if you have any questions.

Regards,

Dan Dietrich
Cel: 403-818-0815

---------------------- Forwarded by Diana Willigerod/PDX/ECT on 11/26/2000
03:33 PM ---------------------------

	  From:  Phillip Platter                           11/26/2000 03:19 PM

To: Jeff Richter/HOU/ECT@ECT, Tim Belden/HOU/ECT@ECT, John M
Forney/HOU/ECT@ECT, Murray P O'Neil/HOU/ECT@ECT
cc: Mark Guzman/PDX/ECT@ECT, Monika Causholli/PDX/ECT@ECT, Diana
Willigerod/PDX/ECT@ECT, Chip Cox/PDX/ECT@ECT, Paul Kane/PDX/ECT@ECT

Subject: IT problems Sunday

Please be advised of a serious problem with Terminal Server!

We were all kicked out of Terminal Server consistently on Sunday.  At first
it happened about every half hour (9am to 10:30a.m).  Then it happened every
5 minutes.
Communication seemed slow.  We paged and called the Portland IT Team at
11:30  (Diana & Chip).  At 12noon Diana said Chip and Paul Kane were working
on it.   At around  12:30 Paul Kane called back and said "Vince" in Houston
was working on it.  We asked for Vince's Phone number and Paul stated that
Vince would call us instead. Vince called at about 1:00 and said everything
was now working.  Five minutes later we were still getting kicked out.   We
then paged and called Chip and he said he was trying to get ahold of
Houston.  At 1:30 we called the Resolution Center. They indicated they had no
clue we were having problems. At 1: 45 we called Greg Marsalis in Houston and
he said he was unaware of who was working on it, but was going to look into
it.

Greg did look into it and said they were still not able to pinpoint the
problem.  At this writing,(3:10p.m.) we are still not able to use Terminal
Server  and consequently are unable to transact with the ISO or to enter
deals in enpower.  This has also affected our connection to PX Trade App.  We
are effectively prevented from taking advantage of market conditions in
California.  Earlier I had started to initiate some congestion relief  on the
Palo Verde tie .  Cong was $225 to $250 at Palo and I was confident I could
take advantage by moving power out of SP.  I was unable to do anything in
Caps as I was kicked out every few minutes.

I feel the communication process regarding this problem has been flawed.  I'm
sure there is plenty of blame to go around .  I suggest we meet with IT  to
define a process where we will get immediate attention and results.

As of 3:20 we still have the same problems.

I am hoping this problem is isolated to Sunday.


AEP will be in Houston conducting Benefit Meetings.  These meetings are
designed to give an overview of their medical, dental, savings and retirement
plans.  If you cannot attend the meeting you are assigned to, please feel
free to attend one of the others listed.

DATE   TIME    LOCATION     ATTENDEES

Feb. 7, 2001  1:00pm-3:00pm  Hyatt Regency, Cottonwood Rm  Last Name    A-E
    3:00pm-5:00pm  Hyatt Regency, Cottonwood Rm  Last Name    F-L

Feb. 8, 2001  9:00am-11:00am  EB 5C2      Last Name     M-S
    1:00pm-3:00pm  2AC, 12th Floor, Forum Room  Last Name      T-Z


Bill and Roger,

Thanks for the quick turn-around on the analysis.  I hope the weekend was not
totally ruined.  After review of the study, we thought it would be useful to
further expand the scenarios into a Worst, Base and Best Case.  The scenarios
we would like you to run are outlined in the attached file.  Each scenario
would reflect a wet, dry and normal weather case.
Please note that each scenario has a different date for surcharge
implementation.  The Best Case reflects the date included in your original
analysis.  Along those lines, would you please expand on the rationale for
assuming the 1/01/02 implementation date.

In addition to reflecting the rate impact on a cents per kwh basis, please
include a percent impact as well.

Like our original request, we are on a fast-track.  We would like to schedule
a conference call for 2:30 p.m. central time Wednesday (March 7) to discuss
the results of your analysis.  Hopefully, the data you have already generated
can be quickly "massaged" to accomodate the scenarios requested.

Please call me at 713 853 3170 if you have any questions.

Robert


We seem to be getting alot of questions about the name changes of the various
Enserch/TXU entities, so attached  is a comprehensive list.  A copy of the
notice will be sent to the usual suspects.


Tom McCall's number is 713-544-4123, ext. 4644.  Call me back when you get a
minute.


John, FYI
Nora, If you could review the other provisions to make sure that they picked up our changes.
Sara, Could you please give a general review?  If you are not the correct party (Jeff Nogid gave me your name), could you give me guidance as to who could assist?

Thanks to everyone.

-----Original Message-----
From: Newby.Steven [mailto:Steven.Newby@SunTrust.com]
Sent: Tuesday, October 09, 2001 9:28 AM
To: Schroeder, Maggie
Cc: Kuykendall.Ken; Avant.Phillip
Subject: Revised Confirm

Maggie -

Attached is another revision of the swap confirm.  Ken wanted to make some
clarifying changes to the copy we sent to you last week.  Sorry for the
confusion and please feel free to give me a call to discuss.  If this is
acceptable let me know and I will send a clean copy.  Thanks.

Steve

*****************************************************************
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individual or entity to which it is addressed and may
contain confidential and/or privileged material. Any
review, retransmission, dissemination or other use of
or taking action in reliance upon this information by
persons or entities other than the intended recipient
is prohibited. If you have received this email in error
please contact the sender and delete the material
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No, I think this one is for you...
----- Forwarded by Tana Jones/HOU/ECT on 06/07/2001 04:51 PM -----

	Marcus Nettelton@ENRON
	06/07/2001 04:50 PM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: RE: FW: NY ZONE A

This is one for you.
----- Forwarded by Marcus Nettelton/NA/Enron on 06/07/2001 04:42 PM -----

	Melba Lozano/ENRON@enronXgate
	06/07/2001 02:49 PM

		 To: Marcus Nettelton/NA/Enron@ENRON
		 cc:
		 Subject: RE: FW: NY ZONE A

Example:
US Pwr Fin Swap  ISO NY Z-A HE14-23 EPT  07Jun01         USD/MWh

A US Power financial Swap Transaction with Enron North America Corp. under
which the Seller pays a Floating Price and the Buyer pays the price submitted
by Counterparty on the Website (the Fixed Price) in respect of the Notional
Quantity per Determination Period. The Notional Quantity per Determination
Period shall be the volume submitted by Counterparty on the Website,
multiplied by the number of applicable hours in such Determination Period.
Each calendar month during the term of the Transaction will be a
Determination Period; provided that, if the term of the Transaction is less
than one calendar month the Determination Period shall be the term of the
Transaction. The Payment Date(s) for Transactions which are less than one
month will be the fifth (5th) Business Day following the last day of the
month that includes the Determination Period. The Payment Date(s) for
Transactions which are one month or longer will be the fifth (5th) Business
Day following the date on which the Floating Price is determinable.
The term of the Transaction shall correspond to the date(s) set forth in the
Product description on the Website.

The Floating Price during a Determination Period shall be the average of the
hourly day-ahead prices listed in the Index for electricity delivered during
Peak hours on each Delivery Day during the applicable Determination Period.
The Floating Price for each Determination Period shall be calculated
utilizing the hourly clearing prices published by the New York Independent
System Operator on its official web site currently located at
http://mis.nyiso.com/public/P-4Alist.htm, or any successor thereto, under the
headings "Time Weighted/Integrated Real Time LBMP"  (the "Index").

The price is quoted in US Dollars per unit of volume, which will be the
Contractual Currency.
The unit of measure against which the price is quoted shall be megawatt-hours
(MWh) and the quantity shown shall be in MW's delivered in each applicable
hour for the duration of the Transaction (the "Hourly Quantity').
The transaction is for on-peak ("Peak") hours on each Delivery Day beginning
with the hour ending 1400 (1:00 pm) and concluding with the hour ending 2300
(11:00 pm) Eastern Prevailing Time.  'Delivery Day' means a day during the
term of the transaction that is a Monday, Tuesday, Wednesday, Thursday, or
Friday, excluding any day that is a NERC holiday.

 -----Original Message-----
From:  Nettelton, Marcus
Sent: Thursday, June 07, 2001 2:47 PM
To: Lozano, Melba
Subject: Re: FW: NY ZONE A

Melba

Please send me the complete product description.

Thank you.

Marcus

	Melba Lozano/ENRON@enronXgate 06/06/2001 02:06 PM 	   To: Marcus
Nettelton/NA/Enron@ENRON  cc: Joe Stepenovitch/ENRON@enronXgate, Chris
Walker/ENRON@enronXgate  Subject: FW: NY ZONE A

Marcus,

Can you review the attached index for Joe Stepenovitch.  He trades Balance of
the Day products.  Let me know if you need additional information.

Thanks,

Melba
ISO NY ZA (BOD) Peak
ISO NY Z-A
The Floating Price during a Determination Period shall be the average of the
hourly day-ahead prices listed in the Index for electricity delivered during
Peak hours on each Delivery Day during the applicable Determination Period.
The Floating Price for each Determination Period shall be calculated
utilizing the hourly clearing prices published by the New York Independent
System Operator on its official web site currently located at
http://mis.nyiso.com/public/P-4Alist.htm, or any successor thereto, under the
headings "Time Weighted/Integrated Real Time LBMP"  (the "Index").

 -----Original Message-----
From:  Stepenovitch, Joe
Sent: Tuesday, June 05, 2001 11:20 AM
To: Lozano, Melba
Subject: NY ZONE A

Time Weighted/Integrated Real Time LBMP  << OLE Object: Picture (Metafile) >>
Zonal <http://mis.nyiso.com/public/P-4Alist.htm>


Please give me a call to discuss Nov transaction.

Debra Perlingiere
Enron North America Legal
1400 Smith Street, EB 3885
Houston, Texas 77002
Debra.Perlingiere@enron.com
713-853-7658
713-646-3490 Fax


Joe:
On trades with BT, are we the confirming party or are they?  Deutsche has
requested that thye be the confirming party on the ISDA that we are trying to
finalize with them.  Are you okay with thios?
carol


From Lorraine Cross/INGAA:

 <<Nomination>>

 - Ltr to Rae McQuade2-28-00.pdf


We should change all settlements at Socal to NGI Southern Border, Socal from
Southern California Border average.  This new index excludes KRS fixed priced
trades.  Please let the brokers know about the changes to Socal basis going
forward.  Please change basis and gd swing swaps (fp and index) in EOL.

Also,  Frank and Matt should set up basis and a gd swap (fp and index) for
southern border, PG&E.  This will be the index for PG&E Topock.  This index
will be effective for April 2001.  I will have the physical product out there
as soon as possible.

Let me know when they have been changed.

Mike


I didn't even know about deal 219618.  I will chat with Dick Jenkins about
this after trading.

Drew Hill
05/17/2000 02:14 PM
To: Chris Germany/HOU/ECT@ECT
cc:
Subject: Re: Nat Fuel

Chris, I have researched the buy and sell from/to AEC Marketing for 4/2000.
Here are the details:

Location:  7126-NFUL/TRCO LEIDY TRANSCO

  transport demand charge(4/2000)    = $56,078.82

Deal   227196 purchase 9189/day @ NX1 + .22 (3.12)

Deal  219618 sell              6000/day @ Michcon Citygate G.D. M.I. +
.39(3.39)

It seems as though ENA is recouping the demand charge only on 6,000 mmbtu per
day.  Do you know if the additional reimbursement has been locked in?
Perhaps on the financial side?
I


SB 28x (Sher), which makes several siting changes including IEP-sponsored
proposals, passed the Senate this morning 35 to 0 and is now on its way to
the Governor's desk for his signature. Get you support letters in to the
Governor this week.

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


I agree with Peace that it is wrong for the "discredited" ISO and PX boards
to select their replacements.  But little else.

Jim

----- Forwarded by James D Steffes/NA/Enron on 11/07/2000 05:30 PM -----

	Jeff Dasovich
	Sent by: Jeff Dasovich
	11/07/2000 01:59 PM

		 To: Steven J Kean/NA/Enron@Enron
		 cc: David Parquet/SF/ECT@ECT, James D Steffes/NA/Enron@ENRON, Joe
Hartsoe/Corp/Enron@ENRON, Mary Hain/HOU/ECT@ECT, Paul Kaufman/PDX/ECT@ECT,
Peggy Mahoney/HOU/EES@EES, Richard Shapiro/NA/Enron@ENRON, Sandra
McCubbin/NA/Enron@ENRON, Sarah Novosel/Corp/Enron@ENRON, Susan J
Mara/SFO/EES@EES, Tim Belden/HOU/ECT@ECT, Richard B Sanders/HOU/ECT@ECT
		 Subject: Peace Letter

November 1, 2000
>
>
>
>Chairman James Hoecker
>Federal Energy Regulatory Commission
>888 First Street, N.E.
>Washington, DC 20426
>
>Dear Chairman Hoecker:
>
>I want to compliment you and your fellow Commissioners and staff on
>the substance of your initial proposed order concerning the California
>market.  I am writing to share my initial reaction and expect to
>provide more detailed comments in the near future.
>
>While the proposed order is not as clear and unambiguous as I would
>like it to be, your call for sweeping changes in the FERC-approved
>tariffs which were filed in December of 1995 is an important
>contribution to at least partially mitigating the exercise of market
>power as well as helping to establish the legal basis for what will
>surely prove to be a vigorous court fight.
>
>Your unambiguous declaration that the rates being charged in the
>wholesale market are, and have been, "unjust and unreasonable", would
>have restored credibility to the wholesale market. But your action is
>more than adequate for the California Public Utilities Commission to
>deny the applicability of the filed rate doctrine to the wholesale
>prices produced by a FERC-approved tariff, which FERC has now ruled
>failed to produce "just and reasonable" rates.
>
>For California consumers, it means that there is now a legal
>justification for these unjust wholesale costs to not be passed on to
>the retail ratepayers.  In turn, the State and consumers should
>support utilities in litigating for relief against those parties who
>profited from "unjust and unreasonable" wholesale rates which, of
>course, will likely require action against FERC itself.
>
>As I have indicated in prior correspondence, we disagree with your
>counsel's opinion that you are constrained from acting retroactively.
>If the tariffs produced "unjust and unreasonable rates" and were,
>therefore, illegal in October, they were similarly illegal in prior
>months in which the effect of market power was even more evident.
>
>However, we appreciate both your stated desire to act retroactively
>and your request to Congress to clarify this authority. While we would
>certainly prefer that Congress act on your request, we are also
>confident that the Federal Court will confirm our legal analysis.  In
>the interim, your invitation to California to suggest equitable
>remedies for earlier periods, is most welcome.  As a threshold matter,
>a statement by you of your intention to host a settlement conference
>in San Diego would be most useful in moving such a remedy forward.
>
>I support your present proposals to restructure the previously
>FERC-approved tariffs to address the ability of parties to exercise
>market power as far as they go.  However, I do have concerns that
>enhancing the ability of California utilities to make forward
>purchases will not mitigate market power.  Since forward contracts
>will be based upon sellers expectations regarding real- time markets
>and since real-time market prices will still be distorted by the
>exercise of market power, forward contract prices will themselves be
>distorted.
>
>Finally, I will take particular satisfaction in the conversion of the
>discredited ISO and PX stakeholder boards into non-stakeholder boards.
> I do question, however, the wisdom of allowing these dysfunctional
>boards to have a last hurrah and choose their non-stakeholder
>successors.
>
>Mr. Chairman and Commissioners, these are difficult and complex issues
>subject to the push and pull of gigantic economic interests. There
>will be much regulatory work as well as litigation to follow.
>However, your action -- coupled with appropriate action by the
>California PUC -- will help assure that, as these gigantic interests
>fight over economic theory and their balance sheets,  consumers will
>not foot the bill.
>
>Thank you.
>
>
>Sincerely,
>
>
>Steve Peace
>
>Cc:   Commissioner Linda K. Breathitt
>   Commissioner Curt Hebert Jr.
>   Commissioner William L. Massey


THE EMPTY CHAIR

 ?A man's daughter  had asked the local minister to come and pray
  with her father.  When the minister arrived, he found the man lying
  in bed with his head propped up on two pillows.  An empty chair
  sat beside his bed.  The minister assumed that the old fellow had
  been informed of his visit. "I ?guess you were expecting me,"  he said.
 ?
 ?"No, who are you?"  said the father.
 ?
 ?The minister told him his name and then remarked, "I see the empty
  chair; I figured you knew I was going to show up."
 ?
 ?"Oh yeah, the chair,"  said the bedridden man. "Would you mind closing
  the door?"  Puzzled, the minister ?shut the door. "I have never told anyone
  this, not even my daughter," said the man. "But all of  my life I have
 ?never ?known how to pray.   At church I used  to hear the pastor
 ?talk about prayer, but it went right over my  head.  I abandoned
 ?any attempt at prayer," the old man continued, "until one day about
 ?four years ago my best friend said to me, 'Johnny, prayer is just
 ?a simple matter of having a  conversation with Jesus.  Here is what
 ?I suggest.  "Sit down in a chair; place an empty chair in front of
 ?you, and in faith see Jesus on the chair.   It's not spooky because he
 ?promised, "I'll  be with you always." Then just speak to him in the
 ?same way  you're doing with me right now.' "So, I tried it and I've liked it
 ?so much that I do it a couple of hours every day.  I'm careful though.
 ?If my daughter saw me talking to an empty chair, she'd either
 ?have a nervous breakdown or send me off to the funny farm."
 ?
 ?The minister was deeply moved by the story and encouraged the
  old man to continue on the  journey.  ?Then he prayed with him,
  anointed him with oil, and  returned to the church. Two nights later
  the daughter called to  tell the minister  that her daddy had died
  that afternoon.

  "Did  he die in peace?" he asked.

 ?"Yes, when I  left the house about two o' clock, he called me over to
  his  bedside, told me he loved me and kissed me on the cheek.
  When I  got back from the store an hour later, I found him dead.
  "But there was something strange about his death. Apparently,
  just  before Daddy died, he leaned over and rested his head on
  the chair beside the bed. What do you make of ?that?"
  ?
 ?The minister wiped a tear from his eye and said,  "I wish we could all go
like that."
 ?
 ?Just ?send this to  four people and do not break this, please. Prayer is
  one of the  best free gifts we receive. There is no cost but a lot of
rewards.
 ?
 ?"I never said it would be easy,  I only said it would be worth it"


I wanted to tell you what was on Gary's Truck Plate,   it has a picture of a
bulldog and reads, "if you can't play with the big dogs, don't get off the
porch".

Debra Perlingiere
Enron North America Corp.
1400 Smith Street, EB 3885
Houston, Texas 77002
dperlin@enron.com
Phone 713-853-7658
Fax  713-646-3490


Note: forwarded message attached.

__________________________________________________
Do You Yahoo!?
Send FREE video emails in Yahoo! Mail!
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--------- Inline attachment follows ---------

From:  <jimmystorey@fbcc.com>
To: Storey Geof <gstorey_71@yahoo.com>
Date: Saturday, January 19, 2002 7:23:22 GMT
Subject:

send larry email concerning discaliaming
send connie email about meeting
----- Original Message -----
From: "Storey Geof" <gstorey_71@yahoo.com>
To: <jimmystorey@fbcc.com>
Sent: Saturday, January 19, 2002 9:44 AM
Subject: Iva file

> Send email describing current investments and new
> investments.
>
> Make list for mom's attorney.
>
> __________________________________________________
> Do You Yahoo!?
> Send FREE video emails in Yahoo! Mail!
> http://promo.yahoo.com/videomail/


Frank,
I would like to discuss with Gregg Penman (General Manager, enovate) the shift of responsibilities to you and determine if agreement changes to be made.  Additionally, if Enron determines this is the right move, we will need to meet with Peoples to usher in the change.

Thanx for your consideration in contemplating the effect on the customer in the Enron shift of people/responsibilities.  Please let Gregg assist you in this change.

Laura Luce

	Frank Hayden/ENRON@enronXgate 05/09/01 10:30 AM 	   To: Laura Luce/Corp/Enron@Enron  cc: Hunter S Shively/ENRON@enronXgate, Vladimir Gorny/ENRON@enronXgate  Subject:

Laura,
Vlady has requested that I take over the CRO function for Enovate.  I'm thinking about traveling to Chicago next week to review related market risk issues, and get a feel for any other risk issues.  Additionally, what do you think about getting together with some of the People's people?    Any other suggestions or ideas to add/take off my agenda?

Frank


---------------------- Forwarded by Kay Mann/Corp/Enron on 06/01/2001 04:49
PM ---------------------------

VIKKI ANAYA <vanaya_vitoltvl@yahoo.com> on 06/01/2001 04:45:30 PM
To: KAY.MANN@ENRON.COM
cc:

Subject:

                                          AGENT VA/VA BOOKING REF
YZEY2A

                                          MANN/C KAY

  ENRON
  1400 SMITH
  HOUSTON TX 77002
  ATTN KAY MANN X 57566

  DATE:  JUN 01 2001

SERVICE               DATE  FROM           TO             DEPART
ARRIVE

CONTINENTAL AIRLINES  04JUN HOUSTON TX     MEMPHIS TN     745A    930A
CO 4096    Y          MON   G.BUSH INTERCO MEMPHIS INTL
                            TERMINAL B
                            SNACK                         NON STOP
                            RESERVATION CONFIRMED         1:45 DURATION
                            FLIGHT OPERATED BY CONTINENTAL EXPRESS
                  AIRCRAFT: EMBRAER EMB 145
                            SEAT 11C NO SMOKING CONFIRMED MANN/C KAY

CONTINENTAL AIRLINES  04JUN MEMPHIS TN     HOUSTON TX     555P    740P
CO 3841    Y          MON   MEMPHIS INTL   G.BUSH INTERCO
                                           TERMINAL B
                                                          NON STOP
                            RESERVATION CONFIRMED         1:45 DURATION
                            FLIGHT OPERATED BY CONTINENTAL EXPRESS
                  AIRCRAFT: EMBRAER EMB 145
                            SEAT 12C NO SMOKING CONFIRMED MANN/C KAY

RESERVATION NUMBER(S)  CO/JR33G1

MANN/C KAY                               TICKET:CO/ETKT 005 7029446540

CO  FREQUENT FLYER COHG770475
***********************************************
THIS IS A TICKETLESS RESERVATION. PLEASE HAVE A
PICTURE ID AVAILABLE AT THE AIRPORT. THANK YOU
***********************************************
                  THANK YOU FOR CALLING VITOL TRAVEL

__________________________________________________
Do You Yahoo!?
Get personalized email addresses from Yahoo! Mail - only $35
a year!  http://personal.mail.yahoo.com/


CALENDAR ENTRY:	APPOINTMENT

Description:
	Ava-35842/Market Services Council Mtg. conference room 42C2

Date:		11/15/2001
Time:		10:30 AM - 12:00 PM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


Some email can not read our web mail, please write enerfaxgold-subscribe@egroups.com to subscribe to the identical email in a text format. Visit http://www.enerfaxgold.com to see the web version.
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Arizona Public Service Company is moving its bulk power marketing to PINNACLE
WEST CAPITAL CORPORATION.  Credit and Legal have approved us to trade with
this entity for deals less than one year in length,


FERC rejected the request by PGE to modify the Code of Conduct so that they could buy on EnronOnline.  Basically, FERC did not believe that buying thru EnronOnline was a guarantee that consumers in Oregon would not be harmed.

FERC found that There is, for
     example, no assurance that the posted prices on EnronOnline
     represent prevailing market prices.
          Applicants contend that, since PGE can transact with EPMI
     via EnronOnline only at the posted price, there can be no
     affiliate abuse.  We are not certain, however, that the posted
     price necessarily represents the market price.  While, on the
     surface, Enron Online may bear some resemblance to an index or an
     auction, the posted prices for any product may not be the result
     of a competitive market of multiple buyers and sellers; in fact,
     for sales the posted prices represent what EPMI is willing to
     sell at, and for purchases the posted prices represent what EPMI
     is willing to buy at.

FERC left open the idea that PGE could re-file to fix the affiliate abuse.

As soon as we hear anything else, I'll let you know.

Jim

 -----Original Message-----
From: 	Shapiro, Richard
Sent:	Friday, July 20, 2001 4:14 PM
To:	Steffes, James D.
Subject:	FW: Portland General Electric:  Order Rejecting Tariff Amendments

 -----Original Message-----
From: 	Novosel, Sarah
Sent:	Friday, July 20, 2001 10:42 AM
To:	Robertson, Linda; Shapiro, Richard; Steffes, James D.
Subject:	Portland General Electric:  Order Rejecting Tariff Amendments

----- Forwarded by Sarah Novosel/Corp/Enron on 07/20/2001 11:39 AM -----

	"EMILY HARRIS" <eharris@bracepatt.com> 07/20/2001 11:14 AM 	   To: <alan.comnes@enron.com>, <Christi.L.Nicolay@enron.com>, <donna.fulton@enron.com>, <ray.alvarez@enron.com>, <smara@enron.com>, <snovose@enron.com>, <sscott3@enron.com>, <thane.twiggs@enron.com>  cc: "Andrea Settanni" <asettanni@bracepatt.com>  Subject: Portland General Electric:  Order Rejecting Tariff Amendments

                                           96 FERC    61, 093
                          UNITED STATES OF AMERICA
                    FEDERAL ENERGY REGULATORY COMMISSION

     Before Commissioners: Curt H*bert, Jr., Chairman;
                          William L. Massey, Linda Breathitt,
                          Pat Wood, III and Nora Mead Brownell.

     Portland General Electric Company         Docket No. ER01-2097-000

     Enron Power Marketing, Inc.                  Docket No. ER01-2103-000

ORDER REJECTING TARIFF AMENDMENTS WITHOUT           PREJUDICE

                           (Issued July 20, 2001)

          In this order we reject, without prejudice, proposed
     amendments of Enron Power Marketing, Inc. (EPMI) and Portland
     General Electric (PGE) to their respective market-based rate
     tariffs that would allow them to make inter-affiliate sales using
     the EnronOnline trading platform.

     I.   Background

          On May 22, 2001, in separate filings, affiliates PGE in
     Docket No. ER01-2097-000 and EPMI in Docket No. ER01-2103-000
     (collectively Applicants) filed to amend their respective market-
     based rate schedules to allow for inter-affiliate sales through
     the EnronOnline trading platform, and to prohibit communication
     among affiliates regarding the contents of prices posted on
     EnronOnline or the times that PGE will be making trades on
                 1
     EnronOnline.   This amendment does not supplant the existing
     provisions of PGE's and EPMI's currently effective tariffs which
     allow for inter-affiliate sales subject to conditions that the
     Commission generally imposes on inter-affiliate sales where there
     are captive customers, e.g., allowing a public utility to sell to
     its affiliated power marketer only at a rate that is no lower
     than the rate it charges non-affiliates, requiring simultaneous
     offers to non-affiliates, or requiring use of a relevant,
     established index.  Rather, PGE and EPMI propose to amend their
     respective tariffs to add a provision by which they will make

               1
                The EnronOnline system is administered by Enron Networks,
          an Enron Corp. subsidiary.  EnronOnline is a free, Internet-
          based, transaction system which allows EPMI's customers to view
          real time prices from EPMI's traders and transact instantly
          online.  EnronOnline is not an EPMI application, but rather
          EnronOnline is a trading platform used as a tool by EPMI in
          buying from and selling power to third parties.

          Docket Nos. ER01-2097-000 -2-
          and ER01-2103-000

     inter-affiliate sales via EnronOnline, with restrictions
     different than those in place but that, they state, will still
     prevent affiliate abuse.  Applicants state that the Commission's
     requirements have become outdated due to recent developments in
     electronic commerce and, in particular, the Commission's
     requirement that "PGE post on its website notice of a potential
     purchase or sale with EPMI prior to PGE entering into the
     transaction with EPMI prohibits PGE from using EnronOnline, since
     EnronOnline offers only instantaneous transactions that do not
     provide for a waiting period before consummating the
                  2
     transaction."   According to Applicants, this deprives PGE of the
     ability to buy or sell power "from perhaps the largest marketer
                                                                3
     in its region, to the detriment of PGE and its ratepayers."

     II.  Notice of Filing and Interventions/Protests

          Notices of the filings were published in the Federal
     Register, 66 Fed. Reg. 29,939 (2001) (Docket No. ER01-2097-000),
     and 66 Fed. Reg. 30,180 (2001) (Docket No. ER01-2103-000), with
     motions to intervene and protests for both due on or before
     June 12, 2001.  None was filed.

     III. Discussion

          The Commission allows power marketers and their public
     utility affiliates to sell to one another at market-based rates
     when it can be assured that there is no possibility of affiliate
     abuse.  As the Commission has explained, affiliate abuse can
     occur when a traditional public utility with captive customers
     sells power at below-market prices to, or purchases power at
     above-market prices from, an affiliate without captive customers
     (such as a power marketer affiliate).  One way in which the
     Commission has sought to prevent this type of cross-subsidization
     by captive customers is to require the pricing of inter-affiliate
                                                             4
     sales at an established, relevant market price or index.
     Another way, when there is no assurance that the affiliates are
     transacting at the prevailing market price, is to adopt various
     conditions previously established by the Commission to prevent
                     5
     affiliate abuse.

               2
                EPMI Application at 3; PGE Application at 4.
               3
                EPMI Application at 3; PGE Application at 4.
               4
                See, e.g., DPL Energy, Inc. 90 FERC   61,200 (2000);
          accord, First Energy Trading Services, Inc., 88 FERC   61,067 at
          61,156 (1999).
               5
                E.g., GPU Advanced Resources, Inc., 81 FERC   61,335 at
                                                        (continued...)

          Docket Nos. ER01-2097-000 -3-
          and ER01-2103-000

          Here, Applicants request that the Commission permit them to
     use EnronOnline to make inter-affiliate sales, subject to the
     following restrictions that they contend provide sufficient
     protection against affiliate abuse.  PGE, when buying from EPMI
     using EnronOnline, will be required to "take the transaction
     price as posted that is generally applicable at a particular
                                                              6
     location without attempting to negotiate any adjustment."   In
                                                                  7
     addition, PGE will be prohibited from submitting Limit Orders  or
     engaging in any other type of transaction in which the identity
     of the counter-party is revealed to EPMI prior to the transaction
     being finalized.  Applicants also propose to amend their
     respective codes of conduct to preclude any communication
     regarding prices posted on EnronOnline.

          Applicants contend such restrictions ensure no affiliate
     abuse occurs since PGE will only be able to transact with EPMI at

          5
           (...continued)
          62,539 (1997) (GPU); Detroit Edison Company, 80 FERC   61,348 at
          62,197-98 (1997) (Detroit Edison).  In GPU, the Commission
          allowed sales from a power marketer to its affiliated traditional
          public utility at a rate that was no higher than the lowest rate
          the public utility paid non-affiliates under certain standard
          supplier agreements.  Accord, First Energy Trading & Power
          Marketing, Inc., 84 FERC   61,214 at 62,037-38, reh'g denied, 85
          FERC   61,311 (1998).  Detroit Edison provided that a traditional
          public utility may sell power to its affiliated power marketer
          only at a rate that is no lower than the rate it charges non-
          affiliates; that the utility simultaneously offer through its
          electronic bulletin board to sell to non-affiliates at the same
          rate offered to its affiliate; and that all prices charged to the
          affiliate be simultaneously posted on its electronic bulletin
          board.  Accord, Jersey Central Power & Light Co., 82 FERC
          61,023 at 61,071 (1998); Commonwealth Edison Co., 85 FERC
          61,288 at 62,176-77 (1998).
               6
                EPMI Application at 4; PGE Application at 5.
               7
                In the case of a Limit Order on EnronOnline, EPMI would
          know the identity of the customer requesting a price higher or
          lower than that currently available.  Applications at 3.  While
          Applicants do not define "Limit Order," the common understanding
          is that, unlike a market order, which instructs a broker to
          transact immediately at whatever price is currently available in
          the marketplace, a limit order instructs a broker to fill the
          order only if certain conditions are met.  Generally, a limit
          order may be either a day order, in which case it expires when
          the market closes if unfilled, or good-until-canceled, in which
          case the limit order lasts until executed or canceled.

          Docket Nos. ER01-2097-000 -4-
          and ER01-2103-000

     the posted price (a price that is offered to all market
     participants) and there will be no transactions in which EPMI
     knows that PGE is the counter-party before the transaction is
     finalized.  Thus, Applicants contend that not only will PGE be
     unable to negotiate special terms with EPMI through EnronOnline,
     but EPMI will have no discretion to take actions which favor PGE.
     Applicants further offer that procedures are performed by
     computer and are not left to the discretion of any affiliate of
     PGE.  In addition, because the EnronOnline price is posted
     electronically and is available to all market participants,
     Applicants state that PGE's customers have the opportunity to
     transact with EPMI on EnronOnline on the same terms and
     conditions that are available to PGE.

          Applicants have failed to demonstrate that their proposed
     restrictions provide the same protections afforded under the
     Commission's affiliate abuse requirements and conditions (e.g.,
     protection against PGE buying too high or selling too low in its
                                           8
     transactions with its affiliate EPMI).   The thrust of
     Applicants' argument is that the Commission's affiliate abuse
     concerns are satisfied by using EnronOnline, a public medium, for
     selling power between affiliates.  We disagree.  While perhaps
     faster and easier to use than phone calls, faxes, or letters, an
     Internet-based platform is just another medium for trade, and
     speed and ease of use do not dictate that the Commission's
     affiliate abuse concerns have been satisfied.  There is, for
     example, no assurance that the posted prices on EnronOnline
                                        9
     represent prevailing market prices.

          Applicants contend that, since PGE can transact with EPMI
     via EnronOnline only at the posted price, there can be no
     affiliate abuse.  We are not certain, however, that the posted
     price necessarily represents the market price.  While, on the
     surface, Enron Online may bear some resemblance to an index or an
     auction, the posted prices for any product may not be the result
     of a competitive market of multiple buyers and sellers; in fact,
     for sales the posted prices represent what EPMI is willing to
     sell at, and for purchases the posted prices represent what EPMI
                          10
     is willing to buy at.    For other transactions through media
     other than EnronOnline, including other exchanges, EPMI might be

               8
                See supra notes 4-5 and accompanying text (citing cases
          that discuss Commission's underlying concerns with affiliate
          power sales).
               9
                See supra note 4 and accompanying text.
               10
                 All transaction on EnronOnline involve EPMI as a
          participant.  For sales, EPMI is the seller.  For purchases, EPMI
          is the buyer.

          Docket Nos. ER01-2097-000 -5-
          and ER01-2103-000
                                                              11
     willing to sell at lower prices and buy at higher prices.
     Moreover, Applicants provide no information about how product
     prices posted by EPMI are determined, or whether there would be
     any restrictions on what products PGE could trade via
     EnronOnline, or even whether there are other similar, but non-
     affiliated, Internet-based venues where PGE can electronically
     trade those products to attain similar benefits.

          Having failed to convince us that these affiliates will be
     transacting at a prevailing market price via EnronOnline, we now
     turn to whether the Applicants have met other conditions
     established by the Commission to prevent affiliate abuse.
     Regarding transactions in which EPMI may be purchasing from PGE
     through EnronOnline, there is nothing in the Applicants' proposed
     restrictions that would require PGE to
     simultaneously offer to sell to non-affiliates at the same rate
     offered to the affiliate.  The Commission requires that, with
     respect to any power offered to its affiliate, PGE make the same
     offer to unaffiliated entities at the same time through its
     electronic bulletin board.  But it is unclear whether PGE can or
     will make the same offer to non-affiliates.

          Applicants also offer as a protection that PGE is prohibited
     from submitting Limit Orders, which would prevent EPMI from
     knowing that PGE is the counter-party to a transaction.  Again,
     this would not prevent EPMI from selling power to PGE at above-
     market prices.

          The Commission is not assured by the Applicants' proposal
     that transactions between PGE and EPMI conducted via EnronOnline
     will occur in a manner that is consistent with the Commission's
     expectations regarding transparent and reasonable prices for
     inter-affiliate power sales transactions.  There is, for example,
     no provision in the proposed amendments regarding how
     unaffiliated customers, or other interested parties, would
     monitor inter-affiliate transactions.

          For the above reasons, we will reject the proposed
     amendments, without prejudice to Applicants revising their
     proposal to address the Commission's concerns and incorporating
     appropriate restrictions to protect against affiliate abuse.

               11
                 Likewise, PGE might be willing to buy at lower prices and
          sell at higher prices.

          Docket Nos. ER01-2097-000 -6-
          and ER01-2103-000

     The Commission orders:

          Applicants' proposed tariff amendments are hereby rejected,

     without prejudice, as discussed in the body of this order.

     By the Commission.

     ( S E A L )

                                        David P. Boergers,
                                              Secretary.

 - portlandgeneralrejectingtariffsER012097_TXT.txt


London Legal wants to know if this is done?


There are several new computer viruses that are spreading rapidly on the internet.  The viruses target Windows computer users and arrives in e-mails with various subject lines like "Fwd:Peace BeTweeN AmeriCa and IsLaM!" The messages also contain attachments that can be directly executed by clicking on the attachment.  The most prevalent virus has an attachment named wtc.exe.

If you ever get an email with an attachment that has an executable file, you should never launch the attachment.  At Enron, these file types are blocked automatically from entering our environment.  However, if you would connect to an external email service (i.e. Hotmail, AOL, Yahoo, etc) while using an Enron computer or attached to the Enron network, you could infect our internal computing systems.  If you do, the virus could cause significant issues and prevent some of our systems from working effectively.

If you ever get an email that you are not sure about, simply delete the email and contact your resolution center to let them know how you obtained the message.  It is much better to be safe than sorry as we will be able to track down the origin of the virus in the Enron Network.

Thank you.
Enron Global Technology


Hello! Jacqueline Gayle & Your Kids has just sent you a greeting card from
Bluemountain.com.

You can pick up your personal message here:

http://www1.bluemountain.com/cards/box6594f/n4v5idscadak8w.htm

Your card will be available for the next 90 days
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your right...................how's my man..?........did .....You....miss me?


Again, let me know if there are any questions.

Thank you
Amy
ext 39741


Sara-

As discussed, I am forwarding the correspondence from Beth Ng of Morgan Stanley containing the draft netting agreements (based on the Enron Capital & Trade Resources Ltd. forms provided to Morgan Stanley) to be entered into by EGLI and ERAC.

I am attaching below, amended versions of the netting agreements that Morgan Stanley would like to enter into today.  I note that Tom Moran, who heads up EGM credit, would like to get Morgan Stanley comfortable ASAP.

Let me know if there is any problem with entering into these arrangements.

Thanks for your help.

John

 -----Original Message-----
From: 	Beth Ng <Beth.Ng@morganstanley.com <mailto:Beth.Ng@morganstanley.com>>@ENRON
Sent:	Friday, October 26, 2001 4:38 PM
To:	Viverito, John
Subject:	Enron Gas Liquids, Inc. and Enron Reserve Acquisition Corp.

Dear John:

As discussed, we have exposures under Enron Reserve Acquisition Corp.
and Enron Gas Liquids, Inc.   We would like to enter into a netting
agreement with each of the Enron entities.

Today, we executed a netting agreement with your London entity, Enron
Capital & Trade Resources Ltd.   Enclosed please find the proposed
netting agreements for these two Enron entities based on your UK
entity's form of netting agreement.

Please review and provide us with your comments by Monday.

Kind regards,
MORGAN STANLEY CAPITAL GROUP INC.

Beth Ng
Commodities Division - Documentation
Tel:  212 761 8720
Fax: 212-507-4898 /  212 761 0293
Email:  Beth.Ng@morganstanley.com <mailto:Beth.Ng@morganstanley.com>

1585 Broadway, 4th Floor
New York, NY   10036

 - Enron Gas Netting Agreement 10-26-01 v. orig.doc
 - Enron Reserve Netting Agreement 10-26-01 v orig.doc
 - Beth.Ng.vcf


We have discovered another problem that we may want to discuss in our oral
comments, although the UDCs may cover it.  Even though the FERC removes the
forward market prohibition, the UDCs will not be in the forward market
because: (1) the PUC may find they were imprudent and (2) the FERC's penalty
is only for underscheduling load in the day-ahead or the day-of market, not
for load failing to be hedged in the forward market.


We are continuing work to ensure our new online trading system, UBSWenergy, is ready for launch on the week of Feb. 11, which is the week following the anticipated Enron/UBS Closing Date of Friday, Feb. 8.

To assist in this process, we are planning an online trading simulation for Thursday, February 7 from  0900 to 1100 (CST). It is planned to include all  traders, originators, mid/back-office staff and IT teams who would normally be involved with electronic trading.

Purpose of the simulation - The simulation will test our "live" trading environment (restricted to internal access only) and will:

Test the integrity and functionality of the system and related processes (including credit, risk, legal, operations, etc.)
Provide an opportunity for traders to verify their products and product setup
Demonstrate how the trading system and processes work to UBS staff visiting next week

Nature of the simulation - The simulation will include testing of all processes related to trading and mid/back-office functions:

Credit, Legal, Risk, Operations, and other groups:
Profile tests for "external" customers (role-played by Originators)
Profile tests for internal users (traders, back-office, etc.)
Data and Process checking as completed transactions flow through Mid/back-Office systems

Traders and Originators:
Traders will be managing their individual books and associated products. Although we may be restricted to certain financial products on launch day, both physical and financial will be available during the simulation. Each trader will be asked to manage their individual position and profitability goals for the simulation.
Originators and others will be asked to play the roles of counterparties. Credit limits, etc. will be tested during the simulation.

Information Technology:
Will assist in preparing data on the system for the simulation.
After the simulation is over, will work with the relevant groups to test the trade-data in various systems and risk books
Will ensure all simulation data is removed from the system after the simulation is complete.

Next steps

Traders and Originators will be contacted prior to simulation day to ensure they have appropriate access to the system.
Originators will be assigned specific roles. You should expect to receive an email and/or handout on or before Wednesday, Feb. 6.
UBSWenergy personnel will be meeting with back office personnel over the next several days to ensure everything is in place for the simulation.

Summary

This simulation is an important step towards re-launching our trading business. We appreciate the participation of everyone involved as we prepare for the public launch of UBS Warburg Energy and the UBSWenergy trading platform.

If you have any questions, comments, suggestions, or ideas regarding this simulation, please feel free to contact Bob Shults (30397) or myself (31861).

Regards,
Dave Forster
713.853.1861
E-Mail:	David.Forster@enron.com


----- Forwarded by Tana Jones/HOU/ECT on 10/26/2000 02:22 PM -----

	Dovie Keprta@ENRON COMMUNICATIONS
	10/20/2000 11:37 AM

		 To: Peter Feltman/Enron Communications@Enron Communications, Kara Knop/Enron
Communications@Enron Communications, Paul Finken/Enron Communications@Enron
Communications, Stephen Abbanat/Enron Communications@Enron Communications,
Brad Harris/Enron Communications@Enron Communications, Rex Shelby/Enron
Communications@Enron Communications, David Berberian/Enron
Communications@Enron Communications, Mike Haney/Enron Communications@Enron
Communications, Mark S Palmer/Enron Communications@Enron Communications,
Mathis Conner/Enron Communications@Enron Communications, Jake Staffel/Enron
Communications@Enron Communications
		 cc: Tana Jones/HOU/ECT@ECT
		 Subject: NDA process

Group-

Earlier this week, we met Tana Jones (Senior Legal Specialist) and Leslie
Hansen (Legal Counsel) with ENA (servicing ENW) to discuss the process for
executing NDAs.  Leslie will serve as in-house legal counsel for EMS while
Tana will be the Senior Legal Assistant for all documentation such as NDAs.

There are two general forms that ENW uses for NDAs.  The first form is
bilateral and used when both parties are disclosing confidential business
information.  The second is unilateral and more clearly and thoroughly
articulates Enron's interests.  The second form should be used when Enron is
the only party disclosing confidential information.

When you would like to execute an NDA with an outside party, please contact
Tana via email (tana.jones@enron.com) and carbon copy myself, providing the
following information:
 1.  Which form you would like to use
 2.  General description of the confidential information to be shared
 3.  Counterparty's legal name
 4.  Counterparty's address
 5.  Contact name at Counterparty
 6.  How/where to send NDA and appropriate information (fax or email and
number or address).

Regards,

-Dovie


Hi Wilson,

I spoke with David Hunt, and he has no problem with you representing Enron
Power Marketing in the proposed transaction with Clarksdale and Yazoo City.
Please let me know if you  have any other potential conflicts.

Thanks,

Kay Mann


In celebration of EnronOnline's one millionth transaction this week, we would like to invite you to a celebration party 	on Thursday, June 7th from 5- 8 p.m. at The Grasshopper (506 Main Street @ Prairie in downtown).  Please RSVP 	as soon as possible by clicking on the link below.

	http://207.21.193.94/invitation/

	I hope to see you there.

	Andy Zipper


The report named: East P/L Totals <http://trv.corp.enron.com/linkFromExcel.asp?report_cd=1&report_name=East+P/L+Totals&category_cd=1&category_name=EAST&toc_hide=1&sTV1=1&TV1Exp=Y&current_efct_date=11/27/2001>, published as of 11/27/2001 is now available for viewing on the website.


It's been a really tough day.  I need a beer.  We may get one beer pretty soon or maybe not.  I'll let you know soon.
Ben

 -----Original Message-----
From: 	megan rogers <megrogers_99@yahoo.com>@ENRON
Sent:	Friday, October 26, 2001 2:23 PM
To:	Rogers, Benjamin
Subject:	ignoring me??

Hello it's me again-
Why don't you write back
I know, I know, you are busy.

Listen, wishful thinking, I looked up flights for
February (hoping you will want to go Feb 6th-Feb 10th)
That is a Wed. through Sunday with 3 full days of
skiing.
Anyway, there is a promotional flight to Vail
for $631.22 fo both of us roundtrip
Think about it!!!
Megan

__________________________________________________
Do You Yahoo!?
Make a great connection at Yahoo! Personals.
http://personals.yahoo.com


I believe that Scott Josey is the commercial guy responsible for Crescendo.  I have left him a voice mail about this and will let everyone know his response.

Andy

-----Original Message-----
From: Fossum, Drew
Sent: Tue 10/23/2001 6:14 PM
To: Sanders, Richard B.
Cc: Derrick Jr., James; Edison, Andrew; Gray, Barbara N.; Place, Janet
Subject: RE: Crescendo

Janet just left me a voice mail and believes this is an ENA deal after all.  Barbara--you may want to get ahold of Janet to verify ownership on this one.  Please let this group know what the final answer is.  DF

 -----Original Message-----
From:   Fossum, Drew
Sent:   Tuesday, October 23, 2001 3:44 PM
To:     Sanders, Richard B.
Cc:     'James Derrick (Business Fax)'; Edison, Andrew; Gray, Barbara N.; Place, Janet
Subject:        Crescendo

The Crescendo project is a Northern Border project, and the appropriate contact for Christopher Sullivan (the fellow that left Jim the voice mail) is probably Janet Place.  I've left Janet a voice mail with the contact information on Sullivan and asked her to get ahold of him regarding his letter on the helium issue.  In case you access email ahead of voice mail Janet, the guy is Chistopher Sullivan, Rocky Mountain Helium, 1-800-945-1547.  Thanks all.  DF


Mike Junior will be doing EOL and curves.


Attached is the termination list for Dec. 12.


Man what planet did you come from:) Your awesome!

KI

   Kate Symes                01/10/2001 10:34 AM

To: Kimberly Allen/HOU/ECT@ECT
cc:
Subject: Re: #485446

Thanks! I handed off the fax to Christian, who said he was extremely busy
today but would try to get to it this afternoon. In the meantime, I've been
told by Chris Mallory that the most important issue is that all
index-forwards get uniform confirmation language. As far as what that
language is, I'm not sure. Is this different than the confirm letters you've
received in the past? Let me know if you need me to expedite the process and
get someone else's opinion.

Thanks,
Kate

	From:  Kimberly Allen                           01/10/2001 06:57 AM

To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Re: #485446

Kate, I just faxed over the Constellation confirm just in case you need to
view it.

Thanks,

Kimberly

   Kate Symes                01/09/2001 06:51 PM

To: Kimberly Allen/HOU/ECT@ECT
cc:
Subject: Re: #485446

I've forwarded this message onto Christian Yoder, one of our lawyers. Chris
Mallory and Jeff Richter suggested I check with Christian first on the
language of these confirms. I'll get back to you first thing tomorrow.

Thanks,
Kate

	From:  Kimberly Allen                           01/09/2001 01:48 PM

To: Kate Symes/PDX/ECT@ECT
cc:

Subject: #485446

Kate,
I received and index trade into NP15 that Chris Mallory did. For Price the
confirmations states:

The average day ahead, post congestion price for the Constrained Price as
published by the California Power Exchange for the on in the period of
delivery stated herein plus 3.00.

Is this language o.k. to accept on the confirmation.

Thanks,

Kimberly Indelicato
33031


whaddya mean?

	Susan J Mara
	03/02/2001 01:36 PM

		 To: Jeff Dasovich/NA/Enron@Enron
		 cc:
		 Subject: That was Cute

Sue Mara
Enron Corp.
Tel: (415) 782-7802
Fax:(415) 782-7854


- winmail.dat


-----Original Message-----
From: 	"Richard Bryant" <rlbryant@andrew.cmu.edu>@ENRON [mailto:IMCEANOTES-+22Richard+20Bryant+22+20+3Crlbryant+40andrew+2Ecmu+2Eedu+3E+40ENRON@ENRON.com]
Sent:	Wednesday, October 03, 2001 4:13 PM
To:	Vince Kaminsky
Subject:	MSCF Advisory Board Membership

Vince,

I am pleased to hear you will be returning to MSCF this year, participating
in the Speaker Series on December 7.   Enron has a tremendous reputation in
quantitative finance circles and your obvious interest in our students is
deeply appreciated.  I know, too, our students are very much looking forward
to your visit.

On a separate but definitely related matter, would you consider serving on
our Advisory Board?   You will note our present membership
(http://student.gsia.cmu.edu/mscf/advisory.html) reflects no representation
from an energy firm.  I speak on behalf of the MSCF Steering Committee in
expressing our hope that you would be willing to correct this!

The Advisory Board meets once a year, usually in the late fall in New York.
Its six (or so) members serve for a three year term.  Enron's participation
on the MSCF Board would allow you to influence the direction of the program
to the advantage of the energy companies and give you access to a "first
look" at the "MSCF Resume Book."  From our standpoint, your experience and
counsel would be of tremendous benefit to us as we consider challenges and
opportunities in the MSCF program in the years ahead.

Our 2001 meeting is scheduled for Wednesday, Dec. 12 in mid-town Manhattan.
Would you be willing join us?

Rick

Mr. Richard L. Bryant
Director, Computational Finance Program
Graduate School of Industrial Administration
Carnegie Mellon University
Pittsburgh, PA 15213
(412) 268-4592/(412) 268-6837 (fax)
rlbryant@andrew.cmu.edu
http://student.gsia.cmu.edu/mscf


-----Original Message-----
From: Beasley, Christopher [mailto:CLB1@valmont.com]
Sent: Tuesday, April 24, 2001 8:17 AM
To: 'clinton_easterling@tivoli.com'; 'cyle@waltman.com'; 'Jason Sells';
'June Hodges'; 'ksells@bryanisd.org'; 'lance@firstbanksnook.com';
'nolan_dupa@yahoo.com'; 'Smith, Charles'; 'Smith, Daniel'; 'Tammy
Hodges'; 'Timothy Beasley'; 'trextreat@hotmail.com'
Subject: FW: Best place to fish

 >
>> >
>> > >
>> > > > A blonde decided she needed something new and
>> > > > different for a winter hobby. She went to the bookstore and
>>bought
>> > > > every
>> > > > book she could find on ice fishing.
>> > > >
>> > > > For weeks she read and studied every book, hoping to become
>>an expert
>> > > in
>> > > > the field. Finally she decided she knew enough, and out she
>>went for
>> > > her
>> > > > first ice fishing trip.
>> > > >
>> > > > She carefully gathered up and packed all the tools and
>>equipment
>> > > needed
>> > > > for the excursion. Each piece of equipment had its own
>>special place
>> > > in
>> > > > her kit.
>> > > >
>> > > > When she got to the ice, she found a quiet little area,
>>placed her
>> > > > padded
>> > > > stool, and carefully laid out her tools. Just as she was
>>about to make
>> > > > her
>> > > > first cut into the ice, a booming voice from the sky
>>bellowed, "There
>> > > are
>> > > > no fish under the ice!" Startled, the blonde grabbed up all
>>her
>> > > > belongings, moved further along the ice, poured some hot
>>chocolate
>> > > from
>> > > > her thermos, and started to cut a new hole. Again the voice
>>from
>>above
>> > > > bellowed, "There are no fish under the ice!"
>> > > >
>> > > > Amazed, the blonde wasn't quite sure what to do, as this
>>certainly
>> > > > wasn't
>> > > > covered in any of her books. She packed up her gear and
>>moved to the
>> > > far
>> > > > side of the ice. Once there, she stopped for a few moments
>>to regain
>> > > her
>> > > > calm. Then she was extremely careful to set everything up
>>perfectly,
>> > > > tools
>> > > > in the right place, chair positioned just so, everything.
>> > > >
>> > > > Just as she was about to cut this new hole, the voice came
>>again,
>> > > "There
>> > > > are no fish under the ice!"
>> > > >
>> > > > Petrified, the blonde looked skyward and asked "Is that you
>>Lord?"
>> > > >
>> > > > The voice boomed back, "No, this is the manager of the
>>skating rink!"


Sara -

Jeff Fuller is interested in pursuing ISDA's with a number of his other
customers after a successful experience with Merced Irrigation District.  He
would like a generic ISDA to start with and hopes to negotiate four ISDA's in
the near future.  The purpose of the ISDA will be to hedge their price risk
once they get a piece of slice (this is a BPA plan to allocate slices of
their system to customers).  Feel free to call me if you have any questions
at 503-464-3810.

Stewart
---------------------- Forwarded by Stewart Rosman/HOU/ECT on 02/09/2001
10:45 AM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  Jeff Fuller <JFuller@prmllp.com>                           02/09/2001
08:06 AM

To: "'Stewart Rosman'" <Stewart.Rosman@enron.com>
cc:
Subject: ISDA/Financial Trades for Washington State PUD's and Muni's

Stewart,

PRM has 4 utility clients (Benton PUD, Franklin PUD, Grays Harbor PUD and
City of Richland) that will be purchasing BPA's Slice product beginning
October 1, 2001.  I want to get the process started to get ISDA's in place
between Enron and these utilities.  We are currently in the beginning stages
of discussing financial trades with their legal counsel.  Fortunately for
Enron, I think we can have one attorney represent all 4 of PRM's clients.
(FYI, that attorney will be Doug Rosenberg at Preston Gates & Ellis in
Seattle.)

To get started, I'd like Enron to forward to me copies of the ISDA agreement
that you would propose as the starting point for discussions.  I also ask
that you send me a list/examples of any other documentation Enron will
require (e.g., legal opinion, board resolution, etc.).  Please send just one
set of documentation at this point.  I want to get the basic legal review
process underway before you prepare four different sets of documents.  I'd
also like to request that when we get to the point of having Enron's
attorney walk through the ISDA with our attorney, that Enron use Sara
Shackleton.  Sara was great to work with when we went through this for
Merced, and I think she'd be extremely helpful once again as we venture into
new territory with these 4 utilities.

Thanks for your help.

Jeff


Greetings:

For tonight,   Frontera is long 85mw's hour ending 2300.    We need to sell this under the Teco Services book.

For tomorrow Frontera needs to sell:

hour ending  4 - 30 mw's
hour ending 5 -30 mw's
Enter a purchase from Frontera (Teco services book) enter the same price as you sold for.
Enter the sale (Teco Services).

I am also selling Frontera 200 mw's for hour ending 7 and 50 mw's hour ending 8.
I am selling this position for $26.04.       I will be short the Imbalance price during this time.
If you can buy below $26.04 for this time period,  do so and schedule to load  in the South.

I am long into the North Zone as follows :
he 1-6,    40 mw's
he 23&24,   55mw's

I am long under deal #834600
If prices appear to weaken,  sell these mw's for 1-6 and cut this Ercot Imbalance deal by same.    This deals should be listed under Ercot Asset.

Thanks,
JMF


Also:  Steve/Maureen:

Please see draft letters which we plan to forward to Rosie/Tori today for Ken
Lay's approval:


Network Pword clg07jul

Lotus Notes  columbus

thanks

	Enron Capital Management

	From:  Felix Buitron                           06/26/2000 10:27 AM

To: John Craig Taylor/HOU/ECT@ECT, Chris Germany/HOU/ECT@ECT
cc: Kimberly Brown/HOU/ECT@ECT
Subject: Palm V

John, Chris, I got the Palm V for each of you.  You don't need to be there
for me to install but, I will need your network and Notes passwords to
install.  Please let me know when will be the best time to install and please
verify your location.

Thanks,

Felix


The attached file contains our daily volume requirements (REVISED) for  7/1
the
following day(s) as listed .    There are three  worksheets labelled as
follows:

'Total Reqs':  Contains the volumes that CES is requesting from Enron at each
of the delivery points and dates indicated in the columns labelled "NOM".
The
Enron schedulers will want to check this sheet to see how much gas is needed
at
a specific point.   The AGL volumes are not timely and should be ignored until
further notice.    CES schedulers note:  the attached file is archived on
P:\Energy Ops\Enron\May_00\Daily\ *.xls, so you don't have to save a duplicate
copy elsewhere on the network.
'Daily Change' :  shows the change (increase +/decrease -) in the daily volume
needed from Enron at the designated citygate delivery point relative to the
supply volumes arranged previously with Enron prior to the current date.  For
the current gas day, the change is an intra-day change and is calculated using
the previous day's volume request for the current day (e.g., If the current
gas
day is 3/28, then the change is computed with respect to the 3/27 request for
3/28.  Note that this procedure assumes that the prior day supply change was
in
fact effectuated).  For tomorrow's gas day and any subsequent ones shown, the
change is computed as the latest Dth Nomination requirement less the
First-of-the-month supply volume plus or minus any adjustments made since the
first-of-the-month to the FOM supply for the (future) days shown.  (e.g., If
today is 3/28, then the change for 3/29, 3/30, etc. is computed with respect
to
the first-of-the-month volumes for those days adjusted for any additional
purchases or sell-backs since the first-of-the-month thru 3/27.)   This sheet
should be useful in determining prices for daily changes in gas volumes that
we
take or turn back.   The column labelled "ENA Daily Swing +/- vs FOM volume'
shows the absolute magnitude of the daily swings allowed by ENA at
pre-specified prices.  Prices for Swing volumes exceeding these magnitudes or
for swings at delivery points without pre-specified pricing must be
negotiated.
'Comments':   Contains comments on selected items on various days.

Hans Herzog
ph: 703 561 6331
fax: 703 561 7317

 - 07-01-00 daily volsAM.xls


We've  been having problems with our e-mail server, so I am resending these
documents  to make sure that everyone did receive them.? Sorry for the
inconvenience.
 - 1003-513-147.doc
 - memo re determination of market price.doc
 - wspp-items for 5-31-01 meeting.doc
 - WSPP-Items for 5-31-01 meeting2.doc
 - WSPP AGREEMENT - REORGANIZED.doc.doc


Shelley, I can take a stab at pulling together TW-related information today
and will run it by Jeff to see whether he has anything to add.  I am leaving
on vacation Saturday and have a lot of other work to finish up here before I
go.  Therefore it might be best to bring in someone else from
legal/regulatory to pull up the info for El Paso, Kern, etc.

Shelley Corman
12/06/2000 10:28 PM
To: Jeffery Fawcett/ET&S/Enron@ENRON, Susan Scott/ET&S/Enron@ENRON
cc:

Subject: Calif. Performance Issues

With concerns about curtailments and force majuere events in California,
Steve Kean has asked for the preparation of study of all possible types of
disruptions (e.g. curtailment, diversion, penalties, etc,) in the gas chain
flowing to Calif and who bears the legal/financial liability for each event.
Specifically, he has asked if ETS can assemble a description of such
provisions for the pipes delivering to Calif.

In particular, he wants a summary of following:

Curtailment - When do pipelines curtail?
Curtailment compensation
Imbalance Provisions
Penalties/OFOs
Allocations (For El Paso Only)

Help!  Do you guys have any materials explaining these provisions?  Steve
wants this all pulled together by Friday.


Kim,
Here are the draft documents with comments from Mark.  I need your input to make sure that the settlements group would understand the terminology the same way I have defined it.  I have followed strict ISDA definitions which is not how we typically draft our documents.  If we need to I can meet with you to discuss how this is to be structured.

Kathryn,
How was it envisioned that ConfirmLogic would handle the difference between the Term of the Underlying Transaction and the exercise period of the swaption?

Leslie,
I modified the ERCOT definitions to make them consistent with the latest draft you sent me.  There are two floating price definitions that appear to have additional variables in them.  (The Megawatt Daily Index Daily and the Megawatt Daily Index Forward.)  How were these additional variables to be handled in ConfirmLogic?  Additionally the headings of each of these Floating Price descriptions do not seem to be consistent with the pub code designation that will be used in ConfirmLogic.  Are the descriptions going to be updated to be consistent?

Please let me know if anyone has any questions or comments on the draft documents.

Regards,
Brent


sounds good to me.

 -----Original Message-----
From: 	Goode, Diane
Sent:	Thursday, July 26, 2001 12:49 PM
To:	Cash, Michelle
Subject:	RE: confidentiality agreement

I spoke with Catherine this a.m..  The vendor is actually a compnay called Bates Churchill. Willaims offices at their facility.  Catherine thought Bates Churchill had an agreement with us, but the company can't find it.  I'm checking the vault, but don't expect to find one.

Should I just put together a consulting agreement and have Doug Williams sign the Confidentiality Agreement? Thanks.

 -----Original Message-----
From: 	Cash, Michelle
Sent:	Thursday, July 26, 2001 12:22 PM
To:	Young, Kay; Goode, Diane
Subject:	RE: confidentiality agreement

It sounds like we are asking him to do it -- more like a consultant than it originally appeared.  MHC

 -----Original Message-----
From: 	Young, Kay
Sent:	Thursday, July 26, 2001 9:21 AM
To:	Goode, Diane
Cc:	Cash, Michelle
Subject:	FW: confidentiality agreement

Catherine's number is 55649.
 -----Original Message-----
From: 	Culwell, Catherine
Sent:	Thursday, July 26, 2001 8:54 AM
To:	Young, Kay
Subject:	confidentiality agreement

Hi Kay,

Here is the information you requested. Enron has been asked to write a chapter for the Euro money book. We have hired Doug Williams to put this chapter together on Trading and Investment Perspectives. He will be interviewing several of our weather traders. Thank you for all your help.

Catherine

Douglas W. Williams
Principal
Lone Star Writers Group
P.O. Box 7689
Houston, TX 77270

Physical address is 300 Reinicke, Houston, 77007.


I want to have the HSR filing and affidavit re-executed by Jim Derrick before
we file.  The signature that is on the filing currently is over a week old.
I think that is too stale.  If you think that we will be filing by next
Monday, I will send signature pages to Jim Derrick tomorrow, otherwise I will
wait for a day or two.


For all new book requests (gas or power), we need to denote in the Subject line that it is for EAST Power to eliminate any confusion between the East/West power division.

Thanks!
Casey


Thanks.  Talked to Rob.  He's going to find out timing and cost to do a
bigger American Ass. of Economist number on Wolak & Co., while I work the
manifesto gang.

Best,
Jeff


Molly:  I left you a voice mail this morning about Citibank.  The file
reflects that you received correspondence from Citibank on 2/22/00 and Carol
St. Clair had propsed revisions to the existing 1/9/96 ISDA Master Agreement
(including changes to the CSA).  Have you agreed to those changes?  The
Australia office is inquiring about the status of this Master Agreement.
Thanks.  Sara


Charles Schwab & Co., Inc.
Email Alert

Morning Market View(TM)
for Thursday, October 25, 2001
as of 9:30AM EDT
Information provided by Schwab Center for Investment Research

ECONOMIC DATA DAMPEN OUTLOOK AT OPEN

Equity index futures fell and bonds rose following this
morning's release of a flurry of economic data. While most of
the data was generally in line with expectations, durable goods
orders dropped sharply, lending further support to the notion of
a contraction in 3Q.

Against the backdrop of the tame inflation and steady jobless
picture reflected in this morning's data, durable goods orders
for the month of September plunged, owing to weakness in
transportation orders, particularly aircraft. The 8.5% drop in
durable good orders was much worse than forecast.

In equities news, Electronic Data Systems (EDS,62,f2) posted 3Q
earnings, excluding items, of $0.69 per share, $0.01 ahead of
the Street's mean estimate. The CFO said he expects the computer
systems consultant to continue to grow earnings in the
double-digit range, and the company remains comfortable with the
Street's 4Q consensus earnings forecast of $0.78 per share.

Long-distance and data services company WorldCom Group
(WCOM,12.45,f1) reported a 41% decline in 3Q profits to $0.16
per share, matching the First Call consensus forecast. Revenues
rose 12%, boosted by growth in the company's data and Internet
services segments. The company's CEO said he expects WorldCom's
growth segments to gain market share, despite the current
economic malaise.

Dow Chemical Co. (DOW,35,f2), the largest U.S. chemical maker,
reported a 3Q profit, excluding restructuring costs, of $0.16
per share, in line with the Street's mean estimate. Dow said it
sees 4Q profits of $0.10-$0.20 per share, compared to the
Street's consensus of $0.17 per share.

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

TREASURY AND ECONOMIC SUMMARY

Bonds rose across the curve following the release of a slew of
economic data this morning. Durable goods orders for September
fell 8.5% according to the Commerce Department, much worse than
the expected 1.3% decline per Dow Jones Newswires, suggestive of
a potential 3Q economic contraction. Excluding transportation,
orders fell 5.5% as aircraft orders plummeted 29%. Orders for
communications equipment and electronic products fell, while
semiconductor and defense capital goods orders rose.

Initial jobless claims rose by 8,000 to 504,000 for the week
ended Oct. 20, according to the Labor Department. Analysts per
Dow Jones Newswires were looking for an increase to 500,000. The
four-week moving average of claims rose to 505,000, a 10-year
high, and continuing claims for the week ended Oct. 13 increased
to 3,654,000, an 18-year high.

The 3Q employment cost index rose 1.0%, slightly above the Dow
Jones Newswires forecast of a 0.9% increase. Most of the
increase was attributed to a 1.6% rise in benefits costs for the
quarter, while wages and salaries rose 0.8% versus 2Q's 1.0%
rise. The government said the data was not distorted by the
Sept. 11 attacks.

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

WORLD MARKETS

European markets were under pressure following the European
Central Bank's decision to leave the benchmark lending rate
unchanged at 3.75%. Pharmaceutical, telecom and auto stocks
contributed to the declines in European markets, with the
Bloomberg European 500 Index down 1.86% as of 8:55 a.m. EDT. The
euro fell against the U.S. dollar in the absence of a rate cut
but recouped all of those losses following the bleak U.S.
economic data.

Asian markets closed higher with Japan's Nikkei-225 Index up
0.72%, paced by strength in banking and drug stocks. In equities
news, Sony Corp. (SNE,41) reported a first-half operating loss
in line with expectations due to weakness in its core
electronics division. The dollar was down against the yen
following this morning's dismal U.S. economic data, despite
earlier comments by financial diplomat Haruhiko Kuroda, which
intimated more FOREX intervention to weaken the Japanese
currency as necessary.

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

FUTURES WATCH

In the December Globex futures contract as of 8:55 a.m. EDT, the
S&P 500 Index was down 10 points (11 points below fair value),
while the Nasdaq 100 index was down 28 points (35 points below
fair value). The December DJIA futures contract was down 85
points (99 points below fair value), and the December crude oil
futures traded on the NYMEX were down $0.11 at $22.22/barrel.

William Johnson, Market Analyst

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It's Jorge Garcia--with a "J"  Sorry, SHould have specified that earlier...


I plan to be out as much as I can; I will be out for two non consective days
of vacation during February, I just don't know what days yet. In other words,
I have not been told.  I will tell you as soon as I'm told.