thanks

-----Original Message-----
From: Lawner, Leslie
Sent: Monday, August 13, 2001 5:13 PM
To: Steffes, James D.; Steffes, James D.
Subject: RE: PGE Gas Pipe Filing - NEXT STEPS

It can sometimes be difficult to withdraw a filing, as the Commission actually has to approve the withdrawal. I have seen them refuse to do so, just to be ornery. The amendment may draw less attention, and there won't be anything that can be used as precedent, just something that someone may point to to embarass us, but which we can easily explain.  But in any event, by calling the staff first, I am hoping we get some feel as to how simply this can be done and maybe a withdrawal is in the realm of possibility.

-----Original Message-----
From: Steffes, James D.
Sent: Mon 8/13/2001 5:06 PM
To: Lawner, Leslie; Cantrell, Rebecca W.
Cc: Ibrahim, Amr
Subject: RE: PGE Gas Pipe Filing - NEXT STEPS

Thanks.  The key, of course, is to create a filing that could not be used against us at FERC on these issues.  I guess that amending the filing is better than withdrawing the filing and re-submitting.  My only thought would be that by withdrawing, PGE provides no trail.

Jim

-----Original Message-----
From: Lawner, Leslie
Sent: Monday, August 13, 2001 5:03 PM
To: Steffes, James D.; Cantrell, Rebecca W.
Cc: Ibrahim, Amr
Subject: RE: PGE Gas Pipe Filing - NEXT STEPS

I spoke with Jay Dudley on Friday.  I suggested he contact the FERC staffer on the case to explain that they want to withdraw the request for the native load exemption and will simply have PGE execute a contract with the pipeline.  He will call his attorney at Skadden to find out who that staff person is and then they will amend the application accordingly.  I think it will be fine in the end.

-----Original Message-----
From: Steffes, James D.
Sent: Sun 8/12/2001 5:14 PM
To: Lawner, Leslie; Cantrell, Rebecca W.
Cc: Ibrahim, Amr
Subject: RE: PGE Gas Pipe Filing - NEXT STEPS

Not sure how this got through the "process".  Please feel free to call on me if this isn't getting fixed right.  Also, should we just have PGE pull the application and re-file with different terms.

Also, Becky you should let Amr know and keep track - he can try and quantify.

Jim

 -----Original Message-----
From:   Lawner, Leslie
Sent:   Friday, August 10, 2001 11:24 AM
To:     Cantrell, Rebecca W.; Steffes, James D.
Subject:        RE: PGE Gas Pipe Filing - NEXT STEPS

Becky, I put a call into Jay and will help them to work with FERC to modify their application.  I agree that it wouldn't fly anyway.  I just wonder how they filed it in the first place???

 -----Original Message-----
From:   Cantrell, Rebecca W.
Sent:   Friday, August 10, 2001 9:58 AM
To:     Steffes, James D.
Subject:        RE: PGE Gas Pipe Filing - NEXT STEPS

Jim, is this the kind of thing I should be bringing to Amr's attention since  I identified the potential problem initially?  I wouldn't know how to go about quantifying it, but I guess it could be done.  I'm pretty sure FERC will throw out their initial application if it's not modified.

 -----Original Message-----
From:   Steffes, James D.
Sent:   Friday, August 10, 2001 10:30 AM
To:     Nicolay, Christi L.; Lawner, Leslie; Cantrell, Rebecca W.
Subject:        PGE Gas Pipe Filing - NEXT STEPS

Leslie -

Can you coordinate with Jay Dudley at 503-464-8860 on how to change the filing (if at all) on PGE's pipeline issue?  PGE is willing to modify the filing to try and take out the language on Native Load.  They are suggesting that maybe they should sign a contract for the full amount of the capacity (about 170,000 mmcf/d) rather than assume its right.

The goal should be to have a final decision on next steps before next Friday, Aug 17.

Please call me with any questions.

Thanks,

Jim


Sheila would like to re-schedule tomorrow's call for Friday.  Could you send
out an email to the GE/Enron group to find the best time?

Thanks,

Kay


I am a bit confused I thought we had agreed to the following last week.

Expand to show approver and only include those things which have been approved.

Issues:

Why are there so many repeat lines, each request is  issuing 3 times in some cases.  Will this mean we order three by accident?
I have no idea what has been ordered - last week I could see this time its all in code.  Please resend with descriptors.

Thanks

Louise

 -----Original Message-----
From: 	Gillespie, John
Sent:	Monday, October 01, 2001 12:43 PM
To:	Kitchen, Louise
Cc:	Rippentrop, Randy; Davila, Raul; Wasaff, George
Subject:	iBuyit Weekly Activity Report

Louise,

Attached is the iBuyit weekly activity report for company code 413.

Please advise if you have any questions.

Thanks
John

 << File: iBuyit Activity Week of Sept 22nd (Kitchen).xls >>


FERC has clarified several aspects of interconnection policy in recent orders:

EPMI and DENA received a favorable FERC order after protesting numerous
aspects of Arizona Public Service's proposed interconnection procedure (IP)
and agreement (IA), including a must run provision for generators located in
APS-specified load pockets and an unusual liability provision that basically
insulated APS from most, if not all, of its actions.  FERC held in favor of
generators in the following provisions:

 -- Generators are not required to execute a transmission agreement in order
to seek interconnection
 -- Immaterial changes to the request will not result in loss of queue spot
 -- Specific milestones must be added
 -- 60 days (rather than 30) allowed for execution (or FERC filing) of IA
 -- Generators will not be charged twice for imbalances if serving load
 -- Required system protection facilities must be identified in the study
 -- Elimination of the must run requirement (can be negotiated with a
generator, subject to APS' filing with justification for proposal)
 -- Credits must be applied to any transmission service, firm or non-firm
 -- APS limited to obtaining information from generators that is necessary to
satisfy APS reporting obligations, plus APS agrees to inform a generator
of      information that affects the generator
 -- APS' liability provision was eliminated in its entirety

FERC issued some guidance on how evaluations are performed.  In VEPCO, all
pending higher-queued requests are included in the evaluation.

Guidance on when studies and the related costs are complete.  In VEPCO and
CP&L, FERC stated that customers withdrawing from the queue do not have to
pay for the possible additional study costs that lower queue projects may
incur.  These costs will be borne by those remaining in the queue until (in
VEPCO) the customer either executes the IA or files it unexecuted at FERC.
((One caveat--This result was requested by EPMI/Duke in the APS protest.
FERC stated it was granting our request, but then seemed to hold, with some
confusing language, that the costs could be charged to the withdrawing
customer's security.  We are seeking clarification of this at FERC.))

Costs incurred after withdrawing from the queue.  ComEd's procedure provides
that "Applicant may withdraw its interconnection request at any time, as long
as it pays Transmission Provider for all costs prudently incurred by
Transmission Provider up to that point."  FPL's unfiled procedures allow
withdrawal at any time (expenses incurred to date must be paid.)  Consumers
includes similar procedures.

What are "material changes" (lose of queue spot).  FERC approved Consumer's
provision that queue spot is lost for: (1) size increases > 15%; or (2)
in-service date delay by more than 6 months; or (3) the site is moved and the
move affects the interconnection to the system.  Duke has filed provisions
(unapproved yet) that queue spot would be lost for: (1) delay in-service more
than 6 months; (2) change in site configuration that impacts flows; or (3)
change in the point of interconnection by lesser of five miles or 25% of the
length of line to which the facilities are connected.  Remember; however,
that most procedures and IAs will include milestones -- failure to comply can
result in loss of queue spot.

Availability of study data:  Duke will make studies available on OASIS.  CP&L
will provide workpapers used in the studies on request.


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	<title>Digest of Miami Athletics News</title>

  Baseball Hosts Annual Alumni Game

    Senior Luke DeBold and the 2002 Hurricanes face some of their old teammates on Saturday night at 7 p.m.

  The University of Miami baseball team open's the 2002 season with its annual alumni game on Saturday, January 26 at 7:00 p.m. at Mark Light Stadium on the UM campus.  Admission is free, including an autograph session with several of the current and former players before the game.

The student voice of the Hurricanes, WVUM 90.5 FM, will broadcast the game featuring both pre- and post-game shows.

  More Headlines

Women's Basketball Beats St. John's, 68-51

The Hurricanes return to Knight Sports Complex facing Rutgers at 7 p.m. Saturday night.
COCA-COLA Honors Hurricane Football National Champs with Commemorative Can

Limited-Edition Coca-Cola Cans Available in Southeast Florida
UM Women's Track Moves Up To No. 16

Hurricanes jump nine spots after strong performances this past weekend.
Cannon Selected For Hall Of Fame

UM coach has led Hurricanes to success both on and off the course.
Shaquana Wilkins Named BIG EAST Player Of The Week

She earned the honor after averaging 20.5 points and 10.5 rebounds in a pair of conference wins for the women's basketball team.
Moser Wins Heptathlon

Senior scores 2456 points on final day to win title.
All-American Kareen Clarke Wins The Triple Jump With A Leap of 12.91 Meters

Clarke currently ranks No. 1 in the triple jump.
No. 24 Men's Basketball Comes Back To Beat Providence In OT, 102-96

Darius Rice scores 32 points to lead the Hurricanes.
Van Rooijen Leads Women Swimmers to Wins

UM women defeat UNF 129-97 and the College of Charleston 132-62 in Jacksonville.

In The Spotlight

Hurricane FANStore
Miami Replica Basketball Jersey..Buy it NOW at the Hurricane FANStore!

Canes Corner

Basketball BIG EAST Pick 'n Roll Mini-plans Now Available !
Choose any five Big East Conference games for just $80.00.

Online Auction
Bid on the latest hot items from the Hurricanes.  Currently featured are autographed Rose Bowl items! Check back each week for the newest addition to the auction.

Ryder Center Updates
Follow The Construction Of The New Ryder Center

The Hurricanes Are National Champs!
Everything from Miami's championship season.

2002 Football Season Tickets
Join the National Champions for the 2002 Season.

2002 Baseball Tickets Available
Catch the defending national champions in action!

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Perry - We lost you on the original e-mail but definitely need your involvement.

Kim - Would you or someone in the TW commercial group be interesting in attending this meeting?
It's Monday, 1-2 PM.  Location to be determined.

Other Invitees include: Glen Hass, Mary Draemer (Ramona isn't available), Toby Kuehl, Darrel Schoolcraft (out of office), Maria Pavlou,
Ranelle Paladino & Rita Bianchi,

From original meeting notice:
Are all of you available to discuss the changes to the Operationally Available Capacity report that the Commission is requiring of TW?  In case you haven't heard, FERC has specifically stated that TW needs to add a column to its Operationally Available Capacity report to capture day to day available sustainable capacity .  We would like to discuss how to get this changed within the 15 day timeframe that we were given.  This is a separate issue from the new California report that all pipelines serving California have to do by Sept. 30th.

Ramona, can you locate a room for this discussion?  Omaha will be in 7C1 extension 7017.  If anyone else needs to be included in this discussion, please invite them.  Thanks.

Ranelle & Rita


Set me up for a lunch or a Rockets game.  The tickets should be coming soon.
Mark
----- Forwarded by Mark E Haedicke/HOU/ECT on 10/12/2000 06:11 PM -----

	Alan Aronowitz
	Sent by: Joya Davis
	10/09/2000 10:27 AM

		 To: Julia Murray/HOU/ECT@ECT, Sheila Tweed/HOU/ECT@ECT, Mark
Taylor/HOU/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT, Barbara N Gray/HOU/ECT@ECT,
Richard B Sanders/HOU/ECT@ECT, Mark E Haedicke/HOU/ECT@ECT, Travis
McCullough/HOU/ECT@ECT, Elizabeth Sager/HOU/ECT@ECT, Lance
Schuler-Legal/HOU/ECT@ECT
		 cc: David Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Chaundra Woods/HOU/ECT
		 Subject: David Minns

David will be spending a couple of weeks with us in Houston (October 9 - 20)
before he goes to London for a week.  It would be great if each of you could
set up a lunch or dinner with him while he's here.  He will be in EB3878C at
extension 5-3757, while he's here and his assistant will be Chaundra Woods at
extension 5-7621.

Thanks in advance for your assistnace in making David's stay here in Houston
enjoyable.

Regards,

Alan


Dear Vincent,  Congressional Representative for Oklahoma and gubernatorial candidate Steve Largent is scheduled to stop by ENL headquarters next week.  We'll get Rep. Largent's opinion on the fight over energy legislation, whether he expects an energy bill any time soon and if ANWR is going to be in a final bill.  Catch the Largent interview on Tuesday during the 10:00 a.m. ET newscast.   The federal magnifying glass is on Enron - There are now six Congressional inquiries and at least four separate federal agencies conducting Enron reviews, including the Justice Department.  On Monday, the Washington bureau will have the latest developments regarding the investigations.   Also from Washington, we'll continue our conversations with Commissioners at the FERC. The Commissioners address what's ahead for the FERC in 2002 and where the fight over Yucca Mountain is headed.  Despite Energy Secretary Spencer Abraham's conclusion that the Nevada site is prepared to store the nation's highly radioactive nuclear waste, many hurdles still stand in the way.  The Washington bureau will explain what some of those hurdles are on Monday.   On Monday, the Houston bureau will have more on Enron - A U.S. Attorney in Houston will discuss his official role in the criminal investigation into Enron.  Join us for details next week.   Also next week, we'll speak with Texas Public Utilities Commissioner Brett Perlman from the Houston bureau.  Perlman will bring us an update on electric deregulation in Texas on Wednesday.   California Governor Gray Davis drafted a plan with the Wall Street firm Saber Partners, which helps control energy costs and avoid blackouts in the state.  On Monday, West Coast Correspondent Kym McNicholas will speak with Saber Partners CEO Joseph Fichera about his company's work with California.  Fichera will join us during the 11:00 a.m. ET newscast on Monday.    Closing Prices for Friday, Jan. 11, 2002    Crude: $19.68/bbl -$0.70   Unleaded: $0.5731/gallon -$0.165   Heating Oil: $0.5394/gallon -$0.139   Gas: $2.204/mmBtu +$0.019   Fwd uE(Feb.): $3.61/mmBtu +$0.09   Keep in mind things are subject to change at a moment's notice. Occasionally guests have to reschedule or change time slots.  We'll continue to do our best to keep you updated on future interviews and events.     Be sure to watch our newscasts every business day - 9 a.m. to 5 p.m. ET, at the top of each hour.

	 	Jay Rickerts, EnergyNewsLive.com Anchor  View today's Energy Wrap Video Windows Media Player: 56K  | 100K  | 300K  Real Player: 56K  | 100K  | 300K  (Requires Windows Media Player or Real Player )   Experience all that Williams Energy News Live has to offer!   If you are receiving this letter for the first time and wish to continue, subscribe now    To stop receiving this letter, unsubscribe now    If you are having trouble receiving this e-mail, please let us know  or  call (800) WILLIAMS (800-945-5426) weekdays, 7am-7pm CST.    Comments? Suggestions? Let us  know  or  call (800) WILLIAMS (800-945-5426) weekdays, 7am-7pm CST.    Copyright 2001 Williams Energy News Live, LLC. All  Rights Reserved.


This was meant for you.
 -----Original Message-----
From: 	Yelverton, Shane
Sent:	Tuesday, November 06, 2001 1:33 PM
To:	Stovall, Darrell
Cc:	Clark, Catherine; Dieball, Scott; Blackburn, Jody; Clark, Catherine; Williams III, Bill; Rigby, John G.; Barto, Brian D.
Subject:	Nooter/Erickson Gas Turbine Generator Package Agreement for Longview

The attached letter was mailed today.

Shane Yelverton, CPS, Paralegal
Enron Engineering & Operational Services Company
E-Mail:  shane.yelverton@enron.com
Direct:   713-646-6217
Fax:       713-646-6120


-----Original Message-----
From: 	Tamma, Ramanarao
Sent:	Monday, August 06, 2001 12:02 PM
To:	Black, Tamara Jae
Subject:	Cubes.

The Cubes on the intranet will not available from 7th August 5 PM till 8th August 11 AM due to server maintenance.
-Rao


I can't make the call on Thursday.  I'm not sure that Sheila can either.
I'll leave the go/no go Enron vote to Sheila.

Kay

From: Suzanne Adams@ECT on 06/05/2001 03:16 PM
To: Sheila Tweed/HOU/ECT@ECT, Ben Jacoby/Enron@EnronXGate, Lisa
Bills/Enron@EnronXGate, Roseann Engeldorf/Enron@EnronXGate, Scott
Dieball/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt, Stephen.swift@ps.ge.com,
Michael.barnas@ps.ge.com, Kent.shoemaker@ae.ge.com, kay.mann@enron.com,
john.schroeder@ps.ge.com, Bill Williams/ENRON@enronXgate, Ed B Hearn
III/HOU/ECT@ECT, John G Rigby/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:

Subject: WEEKLY CONFERENCE CALL - DATE CHANGE

The weekly GE conference call will be held on Thursday, June 7, 2001, at 1:30
p.m. CDT.

Dial In: 1-888-285-4585

Participant: 536220

Host:  121970 (Sheila)


NUMBER:
>30202245464
01/22/02    NON-CHECK FINANCIAL DATA FOR REF. #    30202245464
ACCOUNT: 40781075      ENRON CORP-ECT CASH SVC
            AMOUNT      POST DATE  VALUE DATE   CODE      BATCH/TRACK       DUP
        195,600.00       01/22/02    01/22/02    479     650000000571         1
TRANSACTION DESCRIPTION
SAME DAY DR TRANSFER
         GID:LCT20221518600
         FED20020122B1Q8024C004654
         USER REF:TWS000379500
         REF:      TWS000379500
         ORDER:    ENA CASH SERVICES
         CR BK ID: 021000021
         CR BK:    JPMORGAN CHASE BANK FORMERLY CHASE
          MANHATTAN BANK,N.A NEW YORK, NY 10004
         BENEF:    323009980 ENTERGY KOCH TRADING
         DETAILS:PRE PAY FOR JANUARY POWER
         INSTRUCT DATE:01/22/02 ADVICE TYPE:MAIL


Thanks for responding.  See you Thursday.

-----Original Message-----
From: Jeff.Skilling@enron.com [mailto:Jeff.Skilling@enron.com]
Sent: Tuesday, May 15, 2001 9:29 AM
To: Ronnie Morgan
Cc: Michael S. Morgan
Subject: Re: San Diego Invite

Dear Mr. Morgan,

On behalf of Jeff Skilling, thank you very much for the invitation to
speak
to the San Diego Chapter of YPO.  Jeff was very flattered and somewhat
intrigued by your offer.  However, given the current demands on his
time,
he must respectfully decline your invitation.

Please let me know if you have any interest in another senior-level
representative of Enron speaking to your group, and I'll be happy to do
what I can to facilitate that for you.

Again, Mr. Morgan, thank you and the San Diego Chapter of YPO for the
the
opportunity.

Regards,
Sherri Sera
Assistant to Jeff Skilling
713.853.5984
713.646.8381 (fax)
sherri.sera@enron.com

"Ronnie Morgan" <RonnieM@morgangroup.com> on 05/08/2001 02:33:06 PM

To:   <jeff.skilling@enron.com>
cc:   "Michael S. Morgan" <MichaelM@morgangroup.com>

Subject:  San Diego Invite

Hi Jeff.

I am Mike's brother, Ronnie, living in San Diego and a member of the San
Diego Chapter of YPO.  With all the propaganda being spread about the
electricity and energy crisis we are experiencing here in California, I
thought it would be worthwhile to invite you to town to give us an
insider's view on what is really going on (aka, the "truth").  Is there
anyway you can find time in your busy schedule to visit us over dinner
with a short talk and a question and answer period.  The sooner the
better.

I will schedule a "special" meeting of our chapter to accommodate any
dates that work for you.

I look forward to hearing from you.

Ronnie Morgan
760-476-0700


Hey, there's still time to view the presentations given by Enron management
at the annual investor conference held in January.

A link to the replay of the webcast is available at www.enron.com.  A list of
the presentations made at the meeting will appear on the screen.  To view a
presentation, simply click on the title.  The entire webcast is about eight
hours long, with each presentation lasting about 45 minutes to one hour.  The
webcast will be available 24 hours-a-day, seven-days-a-week until Feb. 28.

This is an excellent opportunity for you to get the latest information about
Enron's business activities and strategy.  If you encounter problems
accessing the webcast, call 1-888-457-7469 for help.


Hi Jeff - Let's do lunch when you have some time; at least before they send
you and the rest of the Enron staff off to San Quentin.....I'll be at NARUC
in Seattle next week.


Whenever I get an e-mail from the following people please-make sure the mtgs
lisited are on my calendar: sarah dennison-leonard, barny speckman, Mark
wood, deanna carry


Vince,

I hope you are well. Until today, I did not know there was another Kaminski
at Enron. Perhaps you know him already but I found him in the Enron address
book his first name is Jim.

I am enrolled in the above mandatory program and I have nominated you in the
peer/colleague category,  to provide feedback on me. I do not know the nature
of the questions you would be required to respond to but sometime soon you
would receive an e-mail asking you for your input.

I know your plate is full and life is already hectic but I thought I could
nominate you for your input.  I should be grateful if you would take some
time off your very hectic schedule and provide the feedback on me.

Very many thanks,

Tony
Enron Broadband Services
713-853-3939


Prentice told me last night that you were very busy, so I took care of
making the reservation on Alaska Airlines and paying for the fare.  When you
get a chance, just send me the $545 minus my share of the rental car we
picked up at Burbank and anything else we might owe.  When are we going out
for a practice round?

-----Original Message-----
From:  Alaska Airlines [mailto:Alaska.IT@alaskaair.com]
Sent: Thursday, February 01, 2001 11:00 PM
To: eldon@interx.net
Subject: Confirmation Letter *-VPKQBE-*

Thank you for choosing Alaska Airlines / Horizon Air!
Questions?  This is an auto-generated email.  If you have any questions,
simply call 1-800-ALASKAAIR (1-800-252-7522) for Alaska Airlines, or
1-800-547-9308 for Horizon Air.
Confirmation Code: VPK QBE
Name                               Ticket Number  Base / Tax / Total

DASOVICH/JEFFREY MR            0272135010686  $470.00 / 75.05 / 545.05
Seats: 23C, 27B, 11D
SELLERS/PRENTICE MS            0272135010687  $470.00 / 75.05 / 545.05
Seats: 24C, 27C, 11F
ITINERARY
March 26, 2001
Alaska Airlines #262
Depart: San Francisco, CA at 8:00 AM
Arrive: Mazatlan, Mexico at 1:47 PM

April 01, 2001
Alaska Airlines #211
Depart: Mazatlan, Mexico at 2:27 PM
Arrive: Los Angeles, CA at 4:13 PM

April 01, 2001
Alaska Airlines #291
Depart: Los Angeles, CA at 7:34 PM
Arrive: San Francisco, CA at 8:48 PM

REMINDERS AND RESTRICTIONS
This electronic ticket is not transferable.  This ticket is valid for travel
on Alaska Airlines flights 1 - 799 and/or Horizon Air flights 2000 - 2999
and is non-refundable.  If you choose to change your itinerary, any fare
increases and a change fee will be collected at that time.
PAYMENT INFORMATION
A total of US$1090.10 was charged to the American Express xxxxxxxxxxx4003
held by ELDON SELLERS on 02/01/01.  This document is your receipt.
BAGGAGE
On Alaska Airlines there is a limit of two carry-on items per passenger
which includes purses, briefcases and laptop computers.  Each of these items
must measure less than 9" high, 14" wide and 22" long.  Please stow items
under the seat in front of you and save the shared overhead compartment for
smaller items.
AT THE AIRPORT
When you arrive at the airport, you may check in at an Instant Travel
Machine, the ticket counter or gate to receive your boarding pass.  Baggage
may be checked at the ticket counter, or, where available, via an Instant
Travel Machine or at curbside.  Please have this document or your
confirmation code available.  Check in at an Instant Travel Machine and we
will add 500 bonus miles to your Alaska Airlines' Mileage Plan account.
It's fast and easy!  For locations and to learn more visit
http://www2.alaskaair.com/it/IT.asp.

Reserved seats will be held for you until 20 minutes before departure time
(40 minutes for international flights).  To accommodate everyone wishing to
travel on your flight, you must be in your confirmed seat at least 10
minutes before scheduled departure (30 minutes for international flights).
This will ensure that your reservations are not canceled.
Picture identification, such as a drivers license or passport, is required
to board the aircraft.  For Canada and Mexico, proof of citizenship is
required.
CHANGE OF PLANS
We're available 24 hours a day to assist you; simply give us a call at
1-800-ALASKAAIR (1-800-252-7522) for Alaska Airlines or at 1-800-547-9308
for Horizon Air.  (If calling from Mexico, precede these telephone numbers
with 001.)  For all changes please refer to your confirmation code.
Refunds for qualifying tickets may be obtained by calling the appropriate
toll-free number listed above or by applying at any ticket counter location.
Please review U.S. Department of Transportation Consumer Notices regarding
your consumer rights and limitations of liability at:
http://www2.alaskaair.com/help/faqs/ConsumerNotices.asp or simply obtain a
copy when checking in.


John and Jeff,

Good Morning!  Sorry for the lengthy email- but I urge you to take the time
to read all of the attachments in preparation for the NY media demo briefings
next week. We have an amazing line-up of journalists for both of you!

An overview of the attached documents for quick reference:
Jeff's schedule: April 3- trades
John's schedule: in April 4- mainstream
Demo outline- details the order of information to go over in the site demo
Jeff's journalist briefing book
John's journalist briefing book
Enron Credit Fact Sheet & Backgrounder (will be included in press packets)

The day of your briefings will be long and exhausting, but well worth your
time and effort. Your first briefings begin at 9 AM.  Please plan on meeting
me at Middleberg at 8 AM to go over any last minute changes or updates.

The document containing the actual site profiles and accounts set up for each
of your journalists will be emailed to you on Monday.

You should each receive a hard copy of your briefing packet on Friday (March
30).  This will give you background on each journalist, including recently
written stories.

Kimberly and I will both be in New York beginning Monday. Should you need to
contact either of us, please call our mobile numbers:
Meredith:   713-806-0074
Kimberly: 713-858-8389

Reminder: The briefings will take place at Middleberg's office within walking
distance from your hotel: 102 Madison Avenue, 12th Floor (BW 29th and 30th
street)
The attachments- - -

JEFF:

JOHN:

BOTH:

See you in the big apple. Thanks!
Meredith


I just updated the volumes on deals 523444 and 523459 for the 12th.  This is
a bookout.  The volumes on these deals should always match, if they don't
then I goofed.


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                              Hi

								Lo

                Today

                Scattered Showers

                   50°F

                   36°F

		    Tue

                Rain

                   47°F

                   35°F

		    Wed

                Partly Cloudy

                   46°F

                   24°F

		    Thu

                Mostly Sunny

                   57°F

                   37°F

		    Fri

                Showers

                   62°F

                   46°F

                            DETAILED FORECAST

                        Today:	 Mostly cloudy with a few showers. High around 50F. Winds N to NE 10 to 15 mph. Chance of precipitation 40%.

                        Tonight:	 Mostly cloudy. Low around 36F. Light N to NE winds.

                        Tomorrow:	 Cloudy with rain likely. High around 47F. Winds NE 10 to 15 mph. Chance of precipitation 60%.

                        Tomorrow night:	 Cloudy with rain likely. Low near 35F. Winds N to NE 10 to 15 mph. Chance of precipitation 70%. Rainfall amounts generally a quarter of an inch.

						WEATHER HEADLINES

					Southern snow

					With plenty of cold air in place, disturbances begin to take snowy aim on the South.

						More details

                        MAPS

                     Doppler Radar Maps

					  Other Maps

		 		 		 		 		 		 		 		 CURRENT CONDITIONS
AND 10 DAY FORECAST

                            Houston, TX

                IN THE SPOTLIGHT - Ski Features

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Mark,

I seem to recall from our earlier conversation that London can trade on the
PULPEX but cannot trade as a marketmaker.  That can only be done out of
Houston.  Is this understanding correct? and if so, why is that?  The reason
why I ask is that eventually we would like to move the marketmaking function
over to London.

regards
steve


Not too good.  Hard to tell right now wether its short term or long term.  We
will have  a better fill for it in about 3 or 4 days.

"Veselack, Joni" <Joni.Veselack@gen.pge.com> on 07/25/2000 11:49:15 AM
To: "'Chris.Germany@enron.com'" <Chris.Germany@enron.com>
cc:
Subject: RE: FW: Enron Press Release

How is Dad???

I'll be here definetly this week and next week. Not sure about the second
week of August... maybe that Monday... still trying to get time off to look
over the area.

-----Original Message-----
From: Chris.Germany@enron.com [mailto:Chris.Germany@enron.com]
Sent: Tuesday, July 25, 2000 11:40 AM
To: Joni.Veselack@gen.pge.com
Subject: Re: FW: Enron Press Release

Hey woman!  When do you go north?  I'm looking at taking you out for a free
meal the second week of Augy.  I off next week and you know where I'll be.

PG&E National Energy Group and any other
company referenced herein that uses the PG&E name or
logo are not the same company as Pacific Gas and
Electric Company, the regulated California utility.  Neither
PG&E National Energy Group nor these other
referenced companies are regulated by the California Public
Utilities Commission.  Customers of Pacific Gas and Electric Company
do not have to buy products from these companies in order
to continue to receive quality regulated services from the utility.


Pinnacle 2001 is quickly approaching!  Remember, all EES employees are
eligible to be nominated, but only those who stand out as
top performers in their field will be selected for participation.  Pinnacle
2001 will be held at a five-star resort on the island of Nevis in the
West Indies. This years event will be an exciting and great experience for
those selected. Click on the attachment below to get a feel of
what's to come at Pinnacle 2001.  After launching the file, the Pinnacle 2001
website can be accessed by clicking on the link at the bottom
of the page.


Charles Schwab & Co., Inc.

Morning Market View(TM) for Monday, May 21, 2001
as of 11:00AM EDT
Information provided by Standard & Poor's

================================================================

U.S. INDICES
(11:00a.m. EDT)

----------------------------------
Market            Value     Change

DJIA          11,245.40    - 56.30
Nasdaq Comp.   2,236.59    + 37.71
S&P 500        1,293.51     + 1.55
----------------------------------
NYSE Advancing Issues        1,460
NYSE Declining Issues        1,221
NYSE Trading Volume        274 mln
NASDAQ Advancing Issues      1,989
NASDAQ Declining Issues      1,323
NASDAQ Trading Volume      579 mln

==================================

U.S. TREASURIES
----------------------------------
Value            Yield      Change

1-year bill       3.72%        n/a
5-year note       5.00%     - 1/32
10-year note      5.41%     - 3/32
30-year bond      5.80%    - 13/32

The tables above look best when viewed in a fixed-width font,
such as "Courier."

================================================================

U.S. TRADING SUMMARY

Stocks began the first session of the new week quietly as the
three major indices initially hovered around unchanged levels.
From there, the bourses diverged as the NASDAQ rallied while the
Dow slipped into the red. By midmorning, the NASDAQ had pushed a
solid 2.0% into the black on strength in Cisco, Microsoft and
Sun. The industrials have been unable to pull out of the red, as
shares of Procter & Gamble, United Technologies and Home Depot
weigh on the index. A lack of economic data or major events could
keep trading choppy today and through the middle of the week.
Strength in computer software, communication and semiconductors
helped the S&P 500 remain just above the unchanged level.

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

JAPAN / EUROPE SUMMARY

European bourses are mixed, as the major indexes hold on either
side of unchanged. The London FTSE has held about 0.2% in the
green. However, the French CAC-40 and the German Dax were off
about 0.2%. Shares of oil firms have been the standouts in the
uninspiring session, as rising crude oil prices have convinced
many investors that shares of oil firms represent a good bet.
Elsewhere, Japanese stocks were the beneficiaries of bargain
hunting as the Nikkei-225 rocketed 2.2% higher while the broader
Topix rallied 0.9%. A reshuffling of stocks in a major investment
firm's global stock index, which left Japanese stocks in a better
position in the index than many had feared, fueled the gains.

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

CURRENCY SUMMARY

The euro just can't get a break, as the common currency has
fallen to around 0.875 dollars this morning. The release of yet
another piece of weak economic data, coupled with diminished
confidence in the European Central Bank, conspired to push the
euro lower. A solid performance in Japanese stocks gave the yen a
lift overnight, helping the yen descend to about the 123 yen per
dollar level from almost 124 yen per dollar overnight.

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

MAJOR COMPANY / INDUSTRY NEWS
(All prices as of 11:05 a.m. EDT)

** In another sign of the ongoing consolidation of the online
music industry, French conglomerate Vivendi Universal (V: 67.55,
- 0.60) is buying MP3.com (MPPP: 4.87, + 1.86) in a cash and
stock deal valued at roughly $372 million. The deal values
MP3.com at $5 per share, which is a healthy premium over its
Friday closing price of about $3 per share, but well off
MP3.com's highs. Recall that just six months ago, a U.S. judge
ordered MP3.com to pay Vivendi's Universal division about $53
million in damages for violating copyright laws. Vivendi's
strategy seems to follow that of German music giant Bertelsmann
BMG, which announced its alliance with beleaguered Napster late
last year.

** In the latest development in Weyerhaeuser's (WY: 60.54, -
0.51) hostile bid for paper firm Willamette (WLL: 48.99, - 0.49),
Weyerhaeuser is again attempting to circumvent Willamette's board
of directors by directly appealing to shareholders. Weyerhaeuser
stated that it will increase its offer price above the current
$50 per share, if Willamette is willing to negotiate immediately.
Willamette's board has repeatedly rebuffed Weyerhaeuser's
attempts at a takeover, stating that the $50 per share offer is
much too low and undervalues their firm. The company has also
instituted a poison-pill defense against any hostile takeover
attempts, which has kept Weyerhaeuser at bay.

** Lowe's Cos. (LOW: 70.20, + 1.80), the No. 2 home improvement
retailer behind Home Depot (HD: 52.22, - 0.48), reported fiscal
first-quarter earnings on Monday that beat Wall Street forecasts.
Lowe's announced earning $0.58 per share, versus $0.49 per share
in the same quarter last year. Wall Street had been looking for
the company to earn anywhere between $0.51 and $0.57 per share.
The gains were impressive given the headwind Lowe's faced from
the current economic slowdown. Sales for the quarter rose to
$5.28 billion for an 18% gain. The firm expects second-quarter
earnings to meet analysts' expectations.

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

ECONOMIC NEWS

** No data today.

** TUESDAY - No data.

** WEDNESDAY - No data.

** THURSDAY - Weekly initial jobless claims, April new home
sales.

** FRIDAY - April durable goods orders, Revised first-quarter
U.S. Gross Domestic Product, April existing home sales,
University of Michigan final index of consumer sentiment for
May.

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My contact at Tennessee, Sherry Noack, said she doesn't see any problem with us releasing the Tenn Boston Gas capacity.

Iroq pretty much said the same thing last week but I will verify that again after lunch.


The Commodity Fundamentals website is back in service.  Please use the link provided below to access the website:

http://fundamentals.netco.enron.com/main.asp

Thank you,

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


The main issue that I see with the description you sent me is the same one
that we spoke about a few weeks ago.

 What should the consistent market convention for determining the first
tranaction be?  If we use the current NG trading convention we will quote the
premium swap as the "first transaction"  and the discount as the second.
This will present consistency problems if we are trading near parity in the
calendar with different months changing position in the curve. You just have
to look at some of the summer spreads to see the confusion that may result.
Having the near dated swap as the first transaction in all cases would
eliminate that issue but will not match the current trading convention.  I
will check with John to see if he has any opinion on the matter.  The product
description would have to be written such that any customer would be easily
be able to determine the correct direction to trade.

I will discuss this and the entire description with John on Tues. and get
back to you .

Thanks

Pete


Someone sent this to Micah the other day and he read the whole thing to me.
It made me want to throw-up!!!!  Is this real or a sad joke???  Frightening
thought is that this was only 50 years ago.

RICARDO - This sounds like your type of woman : - )

----- Forwarded by Mandy Hurt/GLMC/MC/EYLLP/US on 06/08/2001 09:52 AM -----

                    <carrie.mccourt@us.pwcg
                    lobal.com>                    To:     Mandy.Hurt@ey.com
                                                  cc:
                    06/07/2001 09:26 AM           Subject:     FW: Good Wife-1955- WOW!

This reminds me of you!

(See attached file: DREAMS.JPG)

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


CALENDAR ENTRY:	APPOINTMENT

Description:
	Call Center Mtg. w/Sheila, Shelley, Donna and Gerry EB4102

Date:		5/2/2001
Time:		3:00 PM - 4:30 PM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


Dear Project Sunrise Interviewees:

In order to complete gathering technical requirements, we will need to
conduct some follow-up interviews.   I will be scheduling the interviews with
all participants starting Wednesday December 6, 2000 to Monday, December 11,
2000.  Tuesday, December 12th will be reserved for rescheduling of
interviews.

The interviews will be scheduled for 30 minutes and will be conducted by two
members of the Project Sunrise technical team.   Before conducting the
interviews, the technical team will review the documented interviews to
determine any required missing information.    When possible, we will try to
replace the followup interview with a followup email and/or phone call to
limit your time commitment.

Typical follow-up questions will be:
What are your sources of data/information?
Where is the data/information currently stored?
Is the data/information automatically fed into SAP from another system?
Please provide samples of reports/queries (including detailed calculations)
that demonstrate the information you desire.

Please be prepared to answer the above mentioned questions and/or refer us to
the appropriate parties so that we can all make the best use of our time.
Please let me know your availability.  We will work around your schedule but
would prefer to conduct the interviews 9:00 am to 2:00 pm to permit writeups
to be done in the afternoon.

Thank you very much for your participation and patience.

Tzlem Mahmood
x53296


Jim/Rick:

We have revised the draft paper on market objectives and attributes in
response to Jim's comments. This is attached. Much of the material is the
same but there were a few key items that needed clearing up.

The question of how short-term balancing and spot markets should be
organized is so critical (and potentially requiring a significant policy
shift) that we are writing a (much shorter) separate piece on this subject.
Should be ready late this afternoon for discussion on tomorrow's call.

Seab

This e-mail, and any attachments thereto, is intended only for use by the
addressee(s) named herein and may contain legally privileged and/or
confidential information.  If you are not the intended recipient of this
e-mail, you are hereby notified that any dissemination, distribution or
copying of this e-mail, and any attachments thereto, is strictly prohibited.
If you have received this e-mail in error, please immediately notify me at
(617) 354-0060 and permanently delete the original and any copy of any
e-mail and any printout thereof.

Seabron Adamson
Frontier Economics Inc
Two Brattle Square
Cambridge, MA 02138 USA
Ph:  (617) 354-0060
Fax: (617) 354-0640
seabron.adamson@frontier-economics.com

www.frontier-economics.com

-----Original Message-----
From: James.D.Steffes@enron.com [mailto:James.D.Steffes@enron.com]
Sent: Sunday, March 04, 2001 8:19 PM
To: Richard.Shapiro@enron.com; Seabron Adamson
Subject: MY REPLY TO SEABRON

Here are my thoughts (in redline) for Seabron to consider. ?On alot of
this, I don't have a strong opinion. ?Seabron, please beef up the analysis
related to the cost/benefit of the dispatcher running the spot market.

Thanks,

Jim

 - 01-03-07 SA Revised paper on market objectives and attributes.doc


I set it as my new wallpaper.  The file was too big - SU wouldn't let it come
in.


The Friday Burrito

" To succeed in politics, it is often necessary to rise above your
principles"

This is the last Burrito for the Year 2000.? I, like you, need some time off,
although I doubt that will happen.? Just take a quick look at the events of
the last three weeks.? Can you believe what we have been through?? From FERC
Orders, to emergency filings, to on-again, suspended, and then on-again rate
stabilization filings, data subpoenas, credit crunch, and don't forget some
wickedly high price spikes.

I have been unhappy with the public image our industry portrays.? I feel
there needs to be a stronger, more effective group public relations media
blitz that has yet to materialize.? I asked one journalist with whom I have
had several interviews, "When you write a column, who is your audience?"? She
said she writes as if she was explaining the matter to her mother.? It's an
old journalist's trick.

Amazed at the answer, I decided to call my mother, and ask her what she
thought about the whole electric situation.? After all, she qualifies as a
typical fixed-income California resident living in a retirement community in
Laguna Hills.? "Mom," I asked, "what do you make of the whole situation?"?
"Oh, I am disgusted," she chirped, "with that Supreme Court ruling.? That's
no democracy."? "No, not that situation, Mom," I said to calm her down, "but
the electricity restructuring thing." "Well," she sighed, "everyone is
worried about their electric bills.? How much are they going up? And, why
haven't you called me more often?? I could have died, and my children would
be the last to know?"? Every tag line has a message.

So there it is.? If you want a simple view that people understand, then there
it is.? People are worried about their electric bill.? The reasons for the
increase are of less concern, than how much their bills may go up.? All the
blather about forward contracts, alleged gouging, Stage 3 emergencies,
governance, jurisdiction, and FERC Orders is not on the minds of ordinary
California citizens.? They want to know how much more they are going to have
to pay.? And they are worried.

Focus, then, on how we, as an industry, will help.? We want to hold down
consumer electric bills in three different ways: by adding new generation, by
giving people more choice as to their energy provider, and by assuring there
is always a provider of last resort to keep the lights on.? From these three
simple principles, all else flows.? Give me some feedback, and let's see if
we can simply the message even more.? Less is more.

This week's holiday grab bag should be big enough to feed any appetite.

Things in the People's Republic of California
?@@@ Fellow Travelers on the Peace Train
?@@@ SCE's Bryson Rattles the Restructuring Cage
?@@@ Rate Relief Reviewed, Again

Things FERC and Federal
?@@@ Secretary Richardson Serves Smashed Salmon Pate
?@@@ WPTF Supports PX Emergency Filing

Mailbag

Odds and Ends (_!_)
?@@@ WPTF General Meeting Set for February 8 and 9 in Scottsdale, Az.
?@@@ Have a Smile
?@@@ The Toughest Interview Ever
====================================
Things in the People's Republic of California
?@@@ Fellow Travelers on the Peace Train

I want you folks throughout the Western Region to know that you have a
protector. Someone is watching out for your interests, and concerns.? His
name, amigos, is Senator Steve Peace.? Our Herr Peace wrote to FERC
Commissioner Hoecker on December 11 a letter that is suitable for plastic
covered place mats at your dining table,? You can guess why.? He heard about
the $5,000/MWH prices quoted for Mid-C on Monday.? He wrote:
? "Today, the LA Time reported that Kaiser Aluminum Corp., the second-largest
US aluminum maker, said it will shut its smelter in Mead, Wash., for about 10
months and lay off about 400 employees.? Kaiser said it had resold the
electricity it was to received this month from the BPA, netting proceeds of
$52 million, or nearly nine times the $5.9 million that the company has
earned so far this year."

I read this passage to the WPTF Board at our meeting in Phoenix.? Kent
Wheatland said, "That's the finest example of demand response I have ever
heard."? Indeed, Kent hit the nail on the head.? Why is the Peace-meister
decrying the very thing that we have been begging for?? The so-called
inelastic demand curve for electricity just got less steep.? But, never mind
that, read the next paragraph of Peace's letter.
? "It is clear that neither the prospect of post-October refunds ordered
under Section 206 ( will be adequate to discipline marketers' behavior.?
Marketers know full well that FERC simply doesn't have the resources to
police this wholesale market and that the odds are that they can act with
impunity.? Moreover, they know they have a fellow traveler in your colleague
Commissioner Hebert who sees the prospect of the lights going out in
California as a "vindication" of his positions on price caps rather than as
the public disaster such an event would be."Fellow traveler!?!? I didn't know
they let commies on the FERC.? All aboard on the Peace train.? I explained to
the WPTF Board that every passenger on the Peace Train would receive a
complimentary fellow-traveler luggage set with matching red-herring leather.?
In the luggage will be free gifts, essential for any fellow traveler such as
a "price cap" with earflaps, nose guard, and blinders to cover the eyes.? The
hear no evil, smell no evil, see no evil price cap is excellent for
California regulators who repeatedly request these odious price caps as the
blunt instrument of choice.? Caps come in a choice of hard metal, or soft
wool.

Another item in the fellow traveler goodie bag will be Peace's latest best
selling book, "How to win friends and influence policy makers," Devil Press,
348 pgs.? Along with the book and the cap, fellow travelers will find trading
beads suitable for exchange with natives of the Pacific Northwest. Give these
beads to power marketers as wampum for power imports into California.? What
fun, and they won't know the difference.? The full faith and credit of the
ISO control room college-bowl football pool back bead trading values.? This
year's pot is at an all-time high of $36.

Finally, the other freebee items in the travel kit include a signed copy of
Adam Smith's Communist Manifesto, a water-proof electric razor (I'm
especially keen for that), and the AB1890 Restructuring Map showing by color
code the jurisdictional boundaries of the different regulatory agencies.?
Yellow is reserved for the State of California, and it covers the entire
lower 48, the Province of British Columbia, and Cleveland, Ohio.

Things in the People's Republic of California
?@@@ SCE's Bryson Rattles the Restructuring Cage

Not to be outdone by Herr Peace, SCE (Sufferin' Chutzpah Edison) issued a
press release by its CEO, John Bryson, calling for dramatic reform of the
California electricity market.? I know this will shock you, but, now that SCE
has recovered most, but not all, of its stranded costs, they want to reverse
the engine of progress, and "re-regulate California's electric system."?
Guess how?? By allowing utilities to "once again be charged with the
responsibility to plan for, acquire and assure sufficient power to meet the
state's needs without the threat of interruption."? By charging cost-based
rates.? By protecting customers.? Hallelujah.

Let's talk about a few things, here.? First, let's discuss the credit issue
that is plaguing the Pacific Northwest power producers who are increasingly
unwilling to sell supplemental energy into California.? The last I checked,
most PNW producers paid their counterparties on a 30-day basis, but receive
the cash from ISO about 100 days after the trade day.? The PNW producers must
cover their "owed" position by borrowing funds, and at the prices posted in
the last two weeks, the credit limit has been reached.? Where is the security
for the payment?? It lies not with the ISO, but with the utilities who are
the major customers.? Therefore, if the utilities undercollect because frozen
rates are below wholesale prices, then the utilities accumulate a debt.? If
the debt continues unabated, then the credit rating companies downgrade the
UDC ratings.? That has occurred several times in the last few months.? If the
utilities claim bankruptcy, or refuse to pay the PX, then the PX can't pay
the ISO, the ISO can't pay the sellers, and the PNW sellers are kaput.

This is my long-winded way of saying that two entities still hold all the
cards, at least for now, in the region: SCE, and me-too PG&E.? They have the
leverage to bring the whole system to its knees.? Hark, recall that WPTF has
continually called for a breakup of the UDCs' default customer base for this
very reason.? We argued that two dominant buyers could extract monopsony
rents from sellers.? And here it is, big time.

What does Bryson have to lose by rattling the cage?? Nothing.? In fact, it is
so delicious to watch, for the umpteenth time, SCE exercise brute force when
they have an advantage.? You must respect that.? The golden rule aptly
applies.? Those who have the gold, make the rules.

Another aspect of Bryson's gambit is that he is playing a trump card on his
buddy, the Governor, who as of last week, through the PUC, suspended the
requests of Edison and PG&E for rate increases starting next January.? Davis
has painted himself into a corner, and is no match for the cunning of the
Sufferin' Chutzpah gang.? I predicted that Davis would stumble and fall on
electricity matters.? I didn't expect it to happen so soon.

Do you think the public will buy Bryson's argument?? To tell you the truth,
I'm not sure.

Things in the People's Republic of California
?@@@ Rate Relief Reviewed, Again

Well, in a complete reversal, the CPUC put back on the docket list the rate
stabilization plans for PG&E and Edison.? Last week, President Lynch
suspended both companies' applications, denying them the right to raise rates
subject to refund.? Now, this week, Lynch allowed for the rate stabilization
applications to be re-opened, and duly considered.

Next Tuesday I will be on the local San Francisco station, KQED (88.5 FM) to
debate the merits of electric competition with the likes of Lynch, and TURN's
Netie Hogue.? I did this last September on the same one-hour call-in show
that begins at 9 a.m..? I didn't know it was a call-in show until the callers
started firing crazy questions at the panelists.? If you are in the area,
then listen in, and better yet, call in.? Ask Ms. Lynch a few questions, will
you?

I listened to a taped interview Ms. Lynch did on another local station, KCBS
that aired last Sunday.? Here are some of her more memorable quotes:
? "There is plenty of power in California.? There is no shortage.? It is just
not being managed properly on a day to day basis. There are power plants that
should be available right now, but are not running."

"The State of California has 41,000 MW of power available at any hour."

"Plant unavailability is an artificial issue.? There is plenty [of power] if
they [power plants] run."

"The PUC is trying to figure out what is wrong.? The plant owners only give
the ISO one-word explanations such as 'boiler', or 'fire'.? We are sending
our inspection team in to better understand the problems."

"I won't speculate [as to price manipulation] but last summer we saw very
suspicious bids and offers."

"More power plants have been approved during the first two years of the Davis
administration than in all the years of the Wilson administration."

"This week the State stepped in to save the system by turning off lights and
computers."

"The ISO is governed by a board made up of individuals from the utilities and
the power sellers.? There is one consumer representative, and one
environmental representative."

"The San Diego economy couldn't stand the price volatility of last summer."

"The [former Governor Pete] Wilson administration created the wholesale power
market."

"The market design of the PX is counterintuitive.? It takes the highest price
bid and pays it to everyone.? So if you offer $50/MWH for a 100 MW, and
another person offers $100 for a 100 MW, then both parties get $100."

Things FERC and Federal
?@@@ Secretary Richardson Serves Smashed Salmon Pate

Mr. Richardson is the U.S. Secretary of Energy.? Most people don't know him,
nor have ever heard of him.? Last Wednesday, with only four weeks left in his
job, he decided to take a bold step.? He did something.? Richardson invoked a
rarely used authority in the Federal Power Act to require out-of-state
generators and marketers to sell into California upon demand.? The Section of
the statute cited had not been invoked since World War II.? If it was good
enough then, then it is good enough now.

Richardson also ordered BPA and WAPA to ship as much power to California as
possible.

In a way, the Order worked.? Because of credit issues, out-of-state parties
have been loath to violate their credit policies just to sell to California.?
Hence, the imports into California became scarce, and the ISO was teetering
on another Stage 3 Alert yesterday morning.? Because of the Order, BPA
started drafting from its hydro reserves, somewhere in the neighborhood of
1500 MW, and PowerEx delivered another 400 MW.? From where did this power
emanate?

Clearly, in the case of BPA, they are selling to California at the risk of
being unable to meet their own requirements later this year and next.? No
rain and cold weather could put BPA in a world of hurt.? Further, the
increased hydro spill may effect salmon.

I sent by e-mail to Mr. Richardson that included some wonderful recipes for
the damaged salmon. I mean, what do you do with tons of smashed salmon that
you would otherwise love to eat.? Pates, souffl,s, patties, chilled, ground
winter run, smashed spring run primavera, roasted, mashed fall run.? You name
it.? We can whip up a mess of smashed salmon for just about any occasion.?
And, the added benefit is that California gets to continue the holiday season
festively, with lights on, without interruption.

I was reminded of a letter written to the Burrito last year.? It was a phony
announcement that, in retrospect, wasn't far off.? Do you remember it?
? Exclusive: Christmas Lights Cause Crisis

Due to increased evening ramps caused by heavy Christmas light loads, the
California Independent System Operator (ISO) will begin running a series of
Public Service Announcements (PSAs) this week designed to lessen electricity
reliability concerns.? Because homeowners? tend to turn their Christmas
lights on at dusk, there is a surge of? electricity demand that can create
havoc on the balancing act between? generators and users of power. The ads
will request that homes with odd numbered addresses turn on their Holiday
lights between 5:00-5:30 pm and? even numbered homes between 5:30-6:00 pm.?
According to Kellan Flukiger, ISO Vice President of Operations, the rationing
is required to avert an electricity crisis: "We're seeing extreme ramps that
are causing demands on the grid, we'll use this voluntary process for now to
try and manage the problem."

The Author has learned, however, that the ISO intends to turn to a more
direct approach to control the problem after December 15th.? Tariff Amendment
73g, a little known document that to date has been? internal to the
California ISO, could have a major impact on the Holiday plans of
Californians.? The memo calls for some combination of a two-pronged attack to
keep Californians from all turning on their Christmas lights at the same time.

The biggest question, outside of the deliveries of BPA and PowerEx, is what
price is being paid for the power ordered by the California ISO. The Order
states that power will be sold to the ISO at a level that would ensure
generators receive a fair return.? What's that?? I know that some of the
Northwest power producers are sleeving their sales through credit-worthy
third parties.? But, other than that, I am not sure of the details.

Things FERC and Federal
?@@@ WPTF Supports PX Emergency Filing

The Power Exchange filed an emergency motion on Monday to keep alive its
energy markets in light of the emergency changes made by the ISO the previous
Friday.? The PX requested an emergency order from FERC removing the "hard
cap" on Adjustment Bids and replacing it with an energy price equivalent that
allows forward buyers and sellers to transact ahead of the ISO real-time
market.? Currently, the ISO hard caps the Adjustment Bids at $250/MWH, which
becomes the zonal price if congestion is present.? The mix of hard and soft
caps pushes more people into the real-time market, and wipes out much of the
supply that would otherwise show up in the forward markets.

The WPTF Board filed comments with FERC on Wednesday supporting the PX's
motion.? The ISO filed against the PX motion, and the ISO offered a plan of
their own.? Copies of our filing can be found, along with all our other FERC
and PUC filings on our web page.? If you don't have a password for our
website (wptf.org), then e-mail? charlotte@wptf.org and request such.? She
will be glad to assist you.

Mailbag

I received so many great e-mails, that I don't know where to begin.? It's
like opening presents.

Julie Blunden of Greenmountain Energy wrote to me in response to the "old
boys" club inherent in the utility industry. She said, "Gary, not only is
power no longer a boys' club, but as I continue to meet all of our new folks
in Austin, I think it's hysterical that I meet so many of them in the
women's' room.? What a difference 15 years makes.? We're all reading the
burrito voraciously these days - these are historic, and painful times."

Julie, I would like to meet as you do some of your colleagues in Austin.?
Julie's fellow traveler (careful), Rich Counihan, also wrote to me.? He said,
"I think your point, and Commissioner Hebert's on the importance of P.R. is
crucial.? As a result, the energy retailers have changed their name from
Alliance for Retail Markets (ARM) to Competitive Retail Energy for Consumers?
(CREC) and hired a P.R. firm in Sacramento to help get the message of
consumer choice out there."

Our best wishes to CREC, Rick.? We need your success.? Also writing to me
regarding the importance of PR was Tom Allen, VP of External Affairs at
Southern Energy.? Tom wrote, "Gary: I am new to this issue as an employee in
External Affairs, Southern Energy- West Region.? I am in transition to
California, and have been on the job about 2-3 weeks.? I could not agree with
you more regarding "where" this battle will be won or lost. Generators cannot
and will not be able to separate themselves from the consumer pain that was
felt in San Diego this past summer.? Consumers elect the Gov et al and their
"pulse" will dictate final direction in the political arena.? While we all
prepare for the legislative and regulatory battles, let's not forget that the
idea here was to provide consumer value over time.

"I think a "blanket" attack on consumer messaging is very possible.? The key
will be how coalitions (formal or informal) decide to come together to fund
such an initiative.

"Being a transplant to the issue and somewhat of an outsider, here are some
messages that must articulated clearly with some sort of definitive
documentation (beyond our opinion.... meaning we need to pay for it
somewhere) :

"1 - The "value" of competition to the consumer.? Why go forward?? What's in
it for me?

"2 - The true effects / cost (negative value) for going back to cost-based
approach.? Let's live in lifelong subsidy.

"3 - The issue is bigger than energy.? The investment world is watching.? Is
California a good place for business to do business?

"I agree with the P/R blitz.? I think there needs to be back-up when
challenged.? What California institution could provide such in a very short
time frame?"

Thank you, Tom, for sharing your thoughts, and welcome to the club.? Finally,
from new GM at the City of Anaheim and formerly of LADWP, Marcie Edwards
wrote, "Gary;? Well, Monday is my last day at LA.? I have learned a lot from
the Burritos; we'll see if the company can learn to appreciate its rather
piquant flavor without me here to say, "Hey, it tastes just like Chicken!"

Best of luck to you, Marcie.? Thank God Almighty, you are free at last, free
at last.

Odds and Ends (_!_)
?@@@ WPTF General Meeting Set for February 8 and 9 in Scottsdale, Az.

It is not too soon to start planning for our February event.? The next WPTF
General Meeting will be held on February 8 and 9 at the Marriott Resort in
Old Town Scottsdale, Arizona. Their phone number is 1-800-835-6205 or
480-945-1550.

We have blocked 26 rooms for February 8, and the price is $229.00 per suite.?
All these rooms are on a first-come basis and seeing that the area is so
popular at this time of year, we cannot secure any more rooms at this
location. The Hotel wants all reservations made ON OR BEFORE January 9,
2001.? Please remember this area is extremely hard to locate space at this
time of year for a reasonable rate.

Air transportation into Phoenix is available from all major airlines and the
Hotel is located only 15 minutes from the Sky Harbor International Airport.?
Transportation costs $10. -$20., utilizing SuperShuttle or taxis.

On Thursday, February 8, WPTF members will congregate for a members-only
meeting.? That will begin at 3:30 p.m. and conclude at 5:00 p.m.? A no-host
dinner reception ($45/person) will be held from 7 p.m. to 9 p.m.? Reservation
for the dinner must be made with our event coordinator, Barb Ennis, at e-mail
address baennis@earthlink.net.

On Friday, our General Meeting will begin at 9:00 a.m. and end at noon. Our
guests speakers will include John Underhill of Salt River Project who will
brief us on Desert STAR and AISA matters; Scott Miller of FERC who co-lead
the FERC study on California,s power markets, and Kennedy School lecturer
Philip Sharp (invited) who will discuss likely national energy policies.?
Lunch will be provided by WPTF

Odds and Ends (_!_)
?@@@ Have a Smile

In olden times, it could be decades before major events were cast in verse.
But The Great 2000 Election Controversy is so big that a bunch of all-star
poets have come out of retirement to quickly set the story to rhyme.

?For starters, history buff Henry Wadsworth Longfellow:

Listen, my children, don't dare ignore,
The midnight actions of Bush and Gore
In early November, the year ought-ought,
Hard to believe the mess they wrought.
Two billion bucks of campaign bounty
All came down to Palm Beach County.
What result could have been horrider
Than the situation we found in Florider?

Edgar Allen Poe is his usual gloomy self:

Once upon a campaign dreary,
one which left us weak and weary
O'er many a quaint and curious promise of political lore
While we nodded, nearly napping,
suddenly there came a yapping,
As of some votes overlapping, energy-zapping to the core

'Tis a mess here," we all muttered,
as the network anchors stuttered,
Stuttered over Bush and Gore.
Could there be another election with such a case of misdirection,
One with such a weak selection,
yet fraught with tension to the core?

Quoth the ravers, "Nevermore."

Britain's Edward Lear's limerick is lighter:

There once was a U.S. election
That called for some expert detection -
How thousands of pollers
Could become two-holers
Like outhouses of recollection.

Ditto Ogden Nash:

I regret to admit that all my knowledge is What I learned at Electoral
Colleges,
So tell me please, though! I hate to troubya,
Will the winner be Al, or will it be Dubya?

Joyce Kilmer's a media analyst:
I thought that I would never see
The networks all so up a tree.

Walt Whitman is lyrical, as always:

Oh Captain! My Captain!
our fearful trip's not done
The ship has weather'd every rock, but
nobody knows who's won.

Alfred Noyes rhythmically rumbles:

And still of an autumn night they say,
with the White House on the line,
When the campaign's a ghostly galleon
and both candidates cry, "'Tis mine!"

When the road is a ribbon of ballots, all within easy reach,
A highwayman comes riding,
Riding,
Riding,
A highwayman comes riding, and punches two holes in each.

Dr. Seuss takes a look at election officials:

I cannot count them in a box
I cannot count them with a fox
I cannot count them by computer
I will not with a Roto-Rooter
I cannot count them card-by-card
I will not 'cause it's way too hard

I cannot count them on my fingers
I will not while suspicion lingers.
I'll leave the country in a jam -
I can't count ballots, Sam-I-Am.

Clement Moore adopts a holiday theme:
'Twas the month before Christmas, when all through the courts,
All the plaintiffs made stirring bad ballot reports.

Which leaves the problem:
Perhaps the best way to stop complaints raucous
Is to start over again, with the Iowa caucuses.

??? Odds and Ends (_!_)
?@@@ The Toughest Interview Ever

The nights I drive my son to hockey practice, especially in winter, are
silent.? It's dark, the weather is cold, and we each drift into our own
thoughts.? He listens to the rock station of his choice on the way to
practice.? I get my choice of station, usually jazz or classical,? on the way
home.? We both have agreed to set the volume in either travel direction at a
tolerable level, four ticks on the analogue scale.? Last night the silence
was suddenly broken.

"Okay," he said as we started the thirty-minute ride to his practice, "this
is boring. We're going to have a conversation."? "What do you want to talk
about," I asked somewhat startled?? He said he would ask me some questions.?
"Gary," he asked, always addressing me in the familiar, "what was your
favorite thing to do when you were a kid."? I was struck dumb.? I didn't know
how to answer the question because I was afraid that whatever I selected, he
would say, "BORING."? So, I drifted a bit in my answer.? I was very
tentative.? I started with my high school years, and what I liked, and who I
hung around with.? I then spoke about younger days when I was my son's age,
13, and then continued into my elementary school experiences.? He listened to
every word, and asked more questions.? What were my brothers like, which one
of my brothers was I close to, why did I look forward to going to high
school, what instrument did I play in the band, and on and on.? We didn't
stop until we reached the ice rink.

I had butterflies in my stomach.? Picture this.? I have suddenly found my
professional life awash with newspaper interviews, TV interviews, microphones
stuck in my face, and audiences asking me dozens of tough questions.? The
more of that I do, the more comfortable it becomes.? Compare that with my
fear of answering these simple questions posed to me by my son about my
life.? Would I be judged harshly?? Would my answers disappoint him?? Every
Dad wants to be a superstar to his son.

I guess I passed, and I am thankful for the experience.? I'll probably
treasure that conversation for a lifetime, not knowing why.? When you think
about, I received the most precious gift a son can give a father.

Well, on that note, I will wish each and every one of you a happy holiday
season, whether you celebrate Chanukah or Christmas, or both, as we do.? It
has been a privilege to write these Burritos for you.? I cherish your kind
comments to me about our weekly get togethers.? I look forward to serving you
next year in good health, and with less stress.? I'm looking for a quite
time, maybe in April or May, when we can look back at the last few weeks, and
wonder how did we ever get through it all?

Have a great holiday.

gba
?


----- Forwarded by Mark E Haedicke/HOU/ECT on 05/24/2001 05:19 PM -----

	"Liz O'Sullivan" <LOSULLIVAN@isda.org>
	12/13/2000 03:56 PM

		 To: Mark Haedicke <Mark.E.Haedicke@enron.com>
		 cc:
		 Subject: ISDA Energy Conference

Mark:

I am writing in regards to ISDA's Energy and Developing Products conference
in Houston on March 6, 2001.  I have attached a copy of the agenda for your
information.
 <<Houston speaker agenda.2001.doc>>

We are now in the process of trying to find suitable speakers for the
conference.  I know Mary Cunningham had mentioned to you about inviting a
senior person from Enron to open the conference on the Overview of Energy
and Developing Markets from 9:00 AM to 9:30 AM.  We are concerned that if
Jeffrey Skilling spoke at the conference his participation would take away
our draw at the AGM in April.  We would be delighted to have you open the
conference unless you think we should invite a business speaker to give an
Overview of Energy and Developing Markets.

Should you have any questions, please call me at 212-332-2559.

I look forward to hearing from you.

Best regards,

Liz

Ms. Liz O'Sullivan
International Swaps and Derivatives Association, Inc.
600 Fifth Avenue - 27th Floor
Rockefeller Center
New York, NY 10020
(212) 332-2559

 - Houston speaker agenda.2001.doc


The meeting referenced below has been postponed until 3:00pm Eastern /
12:00pm Pacific on Friday, December 15th.
---------------------- Forwarded by Lysa Akin/PDX/ECT on 12/14/2000 11:34 AM
---------------------------

Lysa Akin
12/13/2000 09:07 AM
To: Lysa Akin/PDX/ECT@ECT, Tom Alonso/PDX/ECT@ECT, Robert
Anderson/PDX/ECT@ECT, Kathy Axford/PDX/ECT@ECT, Robert Badeer/HOU/ECT@ECT,
Tim Belden/HOU/ECT@ECT, Jody Blackburn/PDX/ECT@ECT, Jesse Bryson/HOU/ECT@ECT,
Jim Buerkle/PDX/ECT@ECT, Jessica Burry/PDX/ECT@ECT, Angela
Cadena/PDX/ECT@ECT, Christopher F Calger/PDX/ECT@ECT, Monika
Causholli/PDX/ECT@ECT, Fran Chang/PDX/ECT@ECT, Andy Chen/PDX/ECT@ECT, Paul
Choi/SF/ECT@ECT, Ed Clark/PDX/ECT@ECT, Stanley Cocke/PDX/ECT@ECT, Chip
Cox/PDX/ECT@ECT, Sean Crandall/PDX/ECT@ECT, Debra Davidson/PDX/ECT@ECT, Smith
L Day/HOU/ECT@ECT, Michael M Driscoll/PDX/ECT@ECT, Heather
Dunton/PDX/ECT@ECT, Caroline Emmert/HOU/ECT@ECT, Michael
Etringer/HOU/ECT@ECT, Mark Fischer/PDX/ECT@ECT, Amy FitzPatrick/PDX/ECT@ECT,
John M Forney/HOU/ECT@ECT, Chris H Foster/HOU/ECT@ECT, Dave
Fuller/PDX/ECT@ECT, Lisa Gang/PDX/ECT@ECT, Jim Gilbert/PDX/ECT@ECT, Winston
Goodbody/HOU/ECT@ECT, Ashok Gurusamy/PDX/ECT@ECT, Mollie
Gustafson/PDX/ECT@ECT, Mark Guzman/PDX/ECT@ECT, Mary Hain/HOU/ECT@ECT, Don
Hammond/PDX/ECT@ECT, Leaf Harasin/PDX/ECT@ECT, Tim Heizenrader/PDX/ECT@ECT,
Carla Hoffman/PDX/ECT@ECT, D Brett Hunsucker/HOU/ECT@ECT, Donna
Johnson/PDX/ECT@ECT, Saji John/HOU/ECT@ECT, Karen E Jones/HOU/ECT@ECT, Paul
Kane/PDX/ECT@ECT, Paul Kaufman/PDX/ECT@ECT, Jan M King/HOU/ECT@ECT, Holli
Krebs/HOU/ECT@ECT, Kristian J Lande/HOU/ECT@ECT, Monica Lande/PDX/ECT@ECT,
Alan Larsen/PDX/ECT@ECT, Elliot Mainzer/PDX/ECT@ECT, Chris
Mallory/PDX/ECT@ECT, John Malowney/HOU/ECT@ECT, Wayne Mays/PDX/ECT@ECT, Mike
McClain/PDX/ECT@ECT, Anna Mehrer/PDX/ECT@ECT, Jeremy Morris/PDX/ECT@ECT, Matt
Motley/PDX/ECT@ECT, Mark Mullen/PDX/ECT@ECT, Susmitha Nalluri/PDX/ECT@ECT,
Kourtney Nelson/PDX/ECT@ECT, Tracy Ngo/PDX/ECT@ECT, Jeffrey Oh/PDX/ECT@ECT,
Murray P O'Neil/HOU/ECT@ECT, Jonalan Page/PDX/ECT@ECT, Lani
Pennington/PDX/ECT@ECT, Todd Perry/PDX/ECT@ECT, Phillip Platter/HOU/ECT@ECT,
David Poston/PDX/ECT@ECT, Mike Purcell/PDX/ECT@ECT, Dale
Rasmussen/HOU/ECT@ECT, Mark Rathbun/PDX/ECT@ECT, Lester Rawson/PDX/ECT@ECT,
Jeff Richter/HOU/ECT@ECT, Donald Robinson/PDX/ECT@ECT, Grace
Rodriguez/PDX/ECT@ECT, Stewart Rosman/HOU/ECT@ECT, Stacy
Runswick/PDX/ECT@ECT, Valarie Sabo/PDX/ECT@ECT, Holden Salisbury/PDX/ECT@ECT,
Julie Sarnowski/HOU/ECT@ECT, Diana Scholtes/HOU/ECT@ECT, Richard
Schweiger/PDX/ECT@ECT, Walter Seaton/PDX/ECT@ECT, Cara Semperger/PDX/ECT@ECT,
John Shackelford/PDX/ECT@ECT, Jeff Shields/PDX/ECT@ECT, Jeff G
Slaughter/PDX/ECT@ECT, Larry Soderquist/HOU/ECT@ECT, Geir
Solberg/PDX/ECT@ECT, Chris Stokley/HOU/ECT@ECT, Mike Swerzbin/HOU/ECT@ECT,
Kate Symes/PDX/ECT@ECT, Jake Thomas/HOU/ECT@ECT, Maria Van
Houten/PDX/ECT@ECT, Frank W Vickers/HOU/ECT@ECT, Kim Ward/HOU/ECT@ECT, Laura
Wente/HOU/ECT@ECT, Teri Whitcomb/PDX/ECT@ECT, Collin Whitehead/PDX/ECT@ECT,
Bill Williams III/PDX/ECT@ECT, Bill Williams/PDX/ECT@ECT, Diana
Willigerod/PDX/ECT@ECT, Greg Wolfe/HOU/ECT@ECT, Christian Yoder/HOU/ECT@ECT,
Alan Comnes/PDX/ECT@ECT, Theresa Villeggiante/PDX/ECT@ECT
cc:
Subject: FERC Meeting Friday, Dec. 15th

We have secured a phone bridge to listen to the special FERC meeting being
held on Friday, Dec. 15th.

I have reserved the Cascade Conference Room for the call.

Please call me Thursday if you have any questions, or see Mary Hain today.

Thank you.

Lysa
x7927


Hello, everyone.
?
This e-mail is to let you know that several documents have  been posted on
the RTO West Website relating to tomorrow's (June 27, 2001) RTO  West RRG
meeting.
?
You can find those materials at:
?
http://www.rtowest.org/Stage2RRG_Upcoming.htm
?
The materials that have been posted are:
?
1.? Copy  of June 22, 2001 E-mail from Bud Krogh with Confirmation of and
Agenda for June  27, 2001 RRG Meeting at Portland Airport Shilo Inn;
?
2.?  Illustrative  RTO West Pricing Model Data Spreadsheets and Accompanying
Narrative;
?
3.?  Preliminary  List of Some Filing Utilities' (BPA, Idaho Power, Montana
Power, Nevada Power,  PacifiCorp, Puget Sound Energy, and Sierra Pacific
Power) Transmission Lines  Expected To Be Included in RTO West;
?
4.?  Revised  Draft of Congestion Model Content Group Working Paper (revised
following input  given at June 1, 2001 RRG meeting; and
?
5.?  Paper  Describing QF Net Metering Issues and Proposed Principles
(following up on issue  raised at June 1, 2001 RRG  meeting.
?
There  will also be hard copies of the posted documents available at the RRG
meeting.
?
Thank  you.
?
-  Sarah  Dennison-Leonard


CALENDAR ENTRY:	APPOINTMENT

Description:
	Weekly staff mtg eb32C2

Date:		10/2/2000
Time:		10:00 AM - 11:00 AM (Central Standard Time)

Chairperson:	Stacey W White

Detailed Description:


Additional information:  The Board also formed three committees:  they are
1)Finance and Audit   Members are Chuck Henry  CHR.  Tom Berry, Jim
Goodrich,  Don Hodel White and Enthoves--------Governance and Nominating
Members are   Jim Goodrich  CHR.  Henry, Nelson, Anderson, and
Enthove-------Human Resources   Members are  Tom Berry  CHR   White, Nelson,
Anderson, Enthoves.     Jim Jura agreed to continue as treasurer for now.  He
will not be a member of the Board.   The meeting was abreviated but the did
express concern about credit in Calif,  The summer Resource report,
Legislation and how thye might help in the future(Linda was there to give
them an update)  Next meeting is in June 2001.

	Charles Yeung
	03/30/2001 02:37 PM

		 To: Steven J Kean/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Joe
Hartsoe/Corp/Enron@ENRON, Richard Ingersoll/HOU/ECT@ECT, Kevin M
Presto/HOU/ECT@ECT, Lloyd Will/HOU/ECT@ECT, James D Steffes/NA/Enron@Enron
		 cc: Christi L Nicolay/HOU/ECT@ECT, Steve Walton/HOU/ECT@ECT, Jeff
Brown/NA/Enron@Enron, Ron McNamara/NA/Enron@Enron, Andy
Rodriquez/Enron@EnronXGate, Bill Rust/HOU/ECT@ECT, Keith
Comeaux/Corp/Enron@Enron, Alan Comnes/PDX/ECT@ECT
		 Subject: NERC Votes in Independent Board


CALENDAR ENTRY:	REMINDER

Description:
	Angela's due date

Date:		10/16/2001
Time:		8:00 AM (Central Standard Time)
Not for public viewing

Chairperson:	Stacey W White

Detailed Description:


We are in the process of confirming that all traders are set up correctly and ready to trade when the system goes live.

We need to make sure that your Stack Managers are accessing the correct database. In order to do this, we need to know how you access Stack Manager:

1) Through Terminal Server (the one that opens up a desktop within a desktop and it actually appears that you have two Start buttons).
or
2) By opening the Stack Manager directly from your "native" desktop.

Please reply to this message with either a corresponding "1" or a "2" in the subject field.

If you're not sure which one you have, please contact myself x39673, Teresa Mandola x39807 or Jennifer McQuade x53614 and we'll come by your desk to help you.

Thank you,

Dan Diamond


John,

It seems to me that using a risk-free rate is not appropriate. I shall
elaborate on my
position and send you a longer message this afternoon (my time).

Vince

	Enron Capital & Trade Resources Corp. - Europe

	From:  John Bottomley                           06/19/2000 05:55 AM

To: Vince J Kaminski/HOU/ECT@ECT
cc: John Sherriff/LON/ECT@ECT, Dale Surbey/LON/ECT@ECT
Subject: Equity investment Fair Value in Turkey

Vince,

John Sherriff recommended that I contact you regarding an interesting (and
potentially contentious) option valuation issue we are currently dealing with
in London.  We hold longish term options in a private company in Turkey which
is currently seeking to IPO.  The issue we are discussing with RAC is which
discount rate (i.e., risk-free? and if so Turkish or US?) should we use to
value these options

First, some additional information.

Option characteristics:
-- 116,000 options (representing 9% of the company)
-- Term:  minimum of 3 years but possibly longer -- still being renegotiated
-- Strike price:  20% below the upcoming IPO price (either priced in US$ or
Turkish Lire)

We currently hold the above number of options with a fixed price of $118.75
per option but 34,800 expire on July 15, 2000 with the remainder expiring on
December 15, 2000.  The company's investment bankers (ABN / AMRO Rothchilds)
are concerned regarding the strike price because it values the company at
$118 million and they believe the company is worth approx $300 million.  Due
to such a large "valuation gap", they originally encouraged us to exercise
all of the options by the end of June (IPO target date in late Sept / early
Oct).  Our counter-proposal is to "swap" instrinsic value for time value by
repricing the options strike higher while extending their term.

We are currently negotiating with RAC the most appropriate discount rate to
use to value the options.  We are arguing that the US risk free is the most
appropriate discount rate and their current position is that the company's
historical senior debt cost (18%) is the more appropriate number to use
(although admit that this is not justifiable -- only a proxy)

A few key points:
-- RAC is valuing the options via Crystal Ball simulations such that this "to
be negotiated" discount rate is used to calculate the PV of the future
options intrinsic value in 3 years
 (i.e., for Black-Scholes, a higher discount rate yields a higher value but
the opposite is true using Crystal Ball simulation)
-- The model simulates both an IPO / no IPO case and in the case of no IPO we
have put options for our equity priced at a fixed 17% return
-- The model assigns a 30% illiquidity discount
-- In the simulated cases where the options are out-of-the-money, we
obviously do not exercise.

We understand that for Black-Scholes option valuation, one needs to be able
to construct a comparable portfolio of cash flows using equity futures and
the risk free in order for the valuation to hold.  And here is where we reach
our difficulty:  since the company doesn't currently trade on a public market
and since equity futures do not exist for Turkish equities, RAC is arguing
that a US risk free is not appropriate to use.  Our argument is that the
non-IPO scenario, a 30% illiquidity discount and a US$ based option
volatility are already in the factored into the simulation.  As such, we feel
RAC's approach is double counting.

If you managed to get through the above, your a patient man!  I'll give you a
call today or tomorrow after you've had a chance to digest the information.

Regards,
John Bottomley


Thanks for your front-end research on this.  It's too bad that the training
provider can't be as responsive!  In a trading organization, 2 to 3 months is
an eternity.  Sounds as if they are inflexible as well.  Our audience for
this training would be risk book adminstrators and traders, so 2 days away
from the desk is not very workable either.

After I get over my irritation at timing and inflexibility, I may want to
book them for September, although with a much smaller audience than would be
desireable if they insist on sticking to their 2 day method of delivery.
Could I get an outline of their 2 day course to review in order to make this
decision?  Thanks.  --Sally

Tim O'Rourke@ENRON
06/19/2000 04:11 PM
To: Sally Beck/HOU/ECT@ECT
cc:
Subject: VAR training

Sally,
Angela Sprock forwarded your VM to me regarding the VAR training that you
were looking to set up for your group.

I've taken the liberty of getting in touch with the suppliers to talk to them
about the request and their availability. As well as discussing putting on
the 2 day course solely for you group, I also discussed with them the
possibility of breaking it up and delivering it in shorter  modules. Although
they considered this, they are insistent that the course structure, the
activities and the content lend themselves better to the 2 day format.
They are a very busy company, in much demand both within Enron and other
companies. Their earliest available dates are: September 14-15, and September
21-22.

Alternatively, they have more flexibility on dates later in the year (October
onwards - but that may be less of a fit).

How does this fit with your group?
Let me know if you want to discuss this further

Tim
36698


FYI.

-----Original Message-----
From: Joakim Johansson
Sent: Mon 9/24/2001 1:52 AM
To: mba03@haas.berkeley.edu; mba02@haas.berkeley.edu; mfe02@haas.berkeley.edu; eveningmba@haas.berkeley.edu
Cc:
Subject: LAST REMINDER - FINANCE CLUB FIRM NIGHT!

All,

Close to 20 firms confirmed so far, including: B of A Securities, Dain Rauscher Wessels, Lehman Brothers, Deutsche Banc Alex. Brown, Goldman Sachs, BEA Systems, Wit Soundview, Barbary Coast Capital Management, Harris Williams, Palo Alto Investors, Salomon Smith Barney, Lazard Freres, Robertson Stephens, Levi Strauss, Fidelity, Johnson & Johnson, Chevron, GE Capital, Broadview...

The dress code is business casual and drinks and snacks will be served!

This event is a must attend if you plan on interviewing for finance jobs!!!!

Also, remember to attend the tomorrows "A day in the life of an Investment Banker Panel" with representatives from Salomon Smith Barney and Lehman Brothers between 12.30 - 2pm in the Helzel Board room.

Regards,
Joakim on behalf of the Finance Club

X-Authentication-Warning: haas.berkeley.edu: majordom set sender to owner-mba02@haas.berkeley.edu using -f
X-Sender: johansso@haas.berkeley.edu
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Date: Wed, 12 Sep 2001 21:16:15 -0700
To: mba02@haas.berkeley.edu, mba03@haas.berkeley.edu, fx01@haas.berkeley.edu,
   mfe02@haas.berkeley.edu
From: Joakim Johansson <johansso@Haas.Berkeley.EDU>
Subject: FINANCE CLUB FIRM NIGHT!
Cc: ascott@haas.berkeley.edu, friedfel@haas.berkeley.edu
Sender: owner-mba02@Haas.Berkeley.EDU

Interested in meeting with some of the most prominent financial services firms on the street? Well, then this event is for you!

FINANCE CLUB FIRM NIGHT

24th September

Wells Fargo Room

7 - 9 pm

Come meet with companies from industries such as  INVESTMENT BANKING, SALES AND TRADING, EQUITY RESEARCH, ASSET MANAGEMENT, MERCHANT BANKING and much more...

The firm night is free for members of the Finance Club. Non members will pay a cover charge of $10 at the door. To join the Finance Club, please put a check made out to the "Haas Finance Club" in Yevgeny Torkhov's mailbox (remember to write your e-mail on the check). The fee is $20 for one year, or $30 for two years .

A resume book, open to the finance club members, will be distributed to the participating firms prior to the event. To include your resume in the resume book, please forward your resume to Joakim Johansson at johansso@haas.berkeley.edu before the 19th of September (one week from now).

Also, remember to attend the "Life of an Investment Banker Panel" between 12.30 - 2pm that same day. More information to follow on this event...

Best Regards,
Joakim on behalf of the Finance Club

___________________________________________
Joakim Johansson
MBA Candidate, Class of 2002
Haas School of Business
University of California, Berkeley
johansso@haas.berkeley.edu

___________________________________________
Joakim Johansson
MBA Candidate, Class of 2002
Haas School of Business
University of California, Berkeley
johansso@haas.berkeley.edu

___________________________________________
Joakim Johansson
MBA Candidate, Class of 2002
Haas School of Business
University of California, Berkeley
johansso@haas.berkeley.edu


Please review and let me know if you think this works.  I think we will need
to make it clear that any cash received by ENA for its services as
construction manager on lost creek would be excluded from this calculation.
Shonnie
----- Forwarded by Shonnie Daniel/HOU/ECT on 08/31/2000 04:14 PM -----

	Eva Neufeld@ENRON
	08/31/2000 03:55 PM

		 To: Shonnie Daniel
		 cc: Jerry Peters/NPNG/Enron@ENRON, Patricia Wiederholt/NPNG/Enron@ENRON,
Gaye Lynn Schaffart/NPNG/Enron@Enron
		 Subject: Section 2.2

Shonnie,
Here are the revisions for Section 2.2 that we discussed today.


--- Automatic Notification System ( Request #: ECTH-4TRNV3, PO #: 21020144 )

The equipment for your order (see below) was not in stock. Please allow 5 to
7 days for procurement. You will be notified when the equipment arrives.

--- PALM Vx CONNECTED ORGANIZER          --- for Errol McLaughlin


---------------------- Forwarded by Eric Bass/HOU/ECT on 01/10/2000 11:17 AM
---------------------------

	Enron North America Corp.

	From:  Eric Bass                           01/07/2000 04:44 PM

To: Jackie Nelson/HOU/ECT@ECT
cc:
Subject: Final 1999 Numbers

ST- Trading (Martin)                 $26,045,166
Storage (Schwieger)                   $8,566,895
Transport (Gottlob)                      $19,858,000
Firm Trading (McClendon)       $(1,884,668)
Gas Daily                                       $(522,922)


Good Morning,

Please provide your estimate for this week's AGA storage survey.

Here are this week's stats:

AGA Last Year       +46
5 yr AVG            +68
Lifetime High            +114 1995
Lifetime Low             +46  2000
Gas in STGE              958
5yr AVG             1139
+/- to 2000              -159
+/- to 5yr AVG           -181

Please have your estimates in by Noon (11:00 CST) tomorrow.  Thanks.

(Embedded image moved to file: pic02040.pcx)
(Embedded image moved to file: pic15317.pcx)

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 - pic02040.pcx
 - pic15317.pcx


Please note Maviglio's comments in response to Sec of State Bill Jones' claim
that Davis' consultants have violated ethics laws by not filing conflict of
interest reports with the state while working for Davis.  Maviglio sez:

Jones is "on a witch hunt on something outside his jurisdiction."
Mark, quit feeding PR lines to Davis' people.

Best,
Jeff


Greg,

Attached for your review and further handling is the Chambers ICA.  Please
note significant changes to Term and Quality Specs and Measurement.

Thanks,

Eric Gillaspie
713-345-7667
Enron Building 3886