My comments to tonight's changes are attached.  These are the same comments
we discussed tonight.   MDS
----- Original Message -----
From: "Thompson, Peter J." <pthompson@akllp.com>
To: "Chuck Randall (E-mail)" <chuck.randall@enron.com>; "Hector Gutierrez
(E-mail)" <hgutier@enron.com>; "Debbie Asmus (E-mail)" <dasmus@enron.com>;
"Mike Smith (E-mail)" <msmith1@enron.com>; "Chris Riley (E-mail)"
<christopher.riley@enron.com>; <msmith7043@houston.rr.com>;
<elizabeth.sager@enron.com>
Cc: "Pipitone, Paul" <paulpipitone@akllp.com>
Sent: Monday, May 21, 2001 7:11 PM
Subject: Sysco Energy Services and Sales Agreement

    Attached please find a clean copy of the most recent version of the
Sysco Energy Services and Sales Agreement (second document below), as
well as a blackline (first document below) showing changes to the
version sent to Sysco on May 18.
 <<Sysco Energy Svcs. and Sales Agt - 5/18 to 5/21 version.DOC>>
<<Electric Energy Sales Agreement- Sysco Comments on 5/20 Clean
Version.DOC>>

 - Sysco Energy Svcs. and Sales Agt - 5_18 to 5_21 version mds comments.DOC


Attached are the two ISDA's.


California; Metro Desk
Electricity Cost Data Spread the Blame Power: Many suppliers charged more than the firms that Davis has pilloried, records show.
RICH CONNELL; ROBERT J. LOPEZ; DOUG SMITH
TIMES STAFF WRITERS

07/10/2001
Los Angeles Times
Home Edition
B-1
Copyright 2001 / The Times Mirror Company

SACRAMENTO -- California's energy meltdown involves a far more diverse group of wholesale electricity merchants than suggested by Gov. Gray Davis, who has aggressively blamed a handful of Texas companies, state records show.
During the first three months of this year--one of the worst stretches of power shortages during the crisis--an assortment of public and private entities charged the state prices averaging well above some of those paid to Texas firms, according to documents released to The Times on Monday by the Department of Water Resources, which now buys power for California.
Among those setting and collecting some of the highest average prices per megawatt-hour were a Canadian public utility, a subsidiary of San Diego Gas & Electric's parent company, and the Los Angeles Department of Water and Power, the report shows. Their average prices ranged from $498 a megawatt-hour charged by Powerex, the trading arm of British Columbia's BC Hydro, to $292 an hour by the DWP.
In fact, some of the biggest private power companies singled out for criticism by Davis and other state officials--Dynegy Inc., Duke Energy and Mirant--charged less than the average prices the state paid for the period. Those companies' average prices ranged from $146 to $240 per megawatt-hour, according to an analysis of the documents.
The figures cover the various types of spot and longer-term power purchased by the state during three months that included rolling blackouts and more than a month of razor-thin reserves, leading to continuous power emergencies.
Davis spokesman Steve Maviglio said the governor has directed his sharpest barbs at private out-of-state generators because, in general, they have reaped the highest profits over the longest period.
"You have to look at the whole picture," Maviglio said.
"The governor was expressing his displeasure with the arrogance of the generators who wear cowboy hats," he said. "Their profits were 100% to 400% above last year. . . . Just because there are other entities who are charging us more [per megawatt-hour] doesn't change the fact that we are getting ripped off by companies from Houston, Tulsa, Atlanta or Charlotte."
The report by the Department of Water Resources was provided to The Times on the same day the state released 1,700 pages of documents on California's electricity purchases on the volatile spot market for the year's first quarter.
The records detail how the state spent nearly $8 billion buying power in the first five months of the year, and underscore the complexity of the state's energy problem. They also show that patterns of high prices are not limited to a few generators.
Oscar Hidalgo, a spokesman for the water resources agency, said that the reports together show that prices were extremely volatile early in the year. "All the prices were high," he said, noting the downward trend in costs since his agency began buying power in mid-January.
The average price per megawatt-hour for all state purchases went from $316 in January to $243 in May. Spot prices fell from an average of $321 per hour to $271, the reports show.
In the first quarter of the year, some public entities' prices far exceeded those of the biggest private companies. For example, Houston-based Enron, one of the nation's biggest power traders, charged an average of $181 per megawatt-hour. And Atlanta-based Mirant, which sold the most to the state, a total of $706 million, charged an average of $225 per megawatt-hour.
By contrast, a Calgary, Canada, firm, TransAlta Energy, averaged $335 a megawatt-hour, and the Sacramento Municipal Utility District had average charges of $330 per megawatt-hour.
A spokesman for Enron, Mark Palmer, said recently that the "vilification of Enron was based on politics, not facts." Spokesmen for BC Hydro could not be reached late Monday to comment on its huge sales to the state. In the past, the utility has defended its pricing practices, saying it has offered last-minute hydroelectric power that helped keep California's lights on.
A spokeswoman for Sempra, the parent company of San Diego Gas & Electric, said late Monday the company was unable to comment because it had yet to see the figures released by the state. Officials at DWP, who could not be reached Monday evening, have defended their pricing, saying the costs of producing the power needed by the state were extremely high.
More Power Bought Than Projected
Hidalgo, of the Department of Water Resources, said his agency's efforts, coupled with conservation by business and consumers and falling natural gas prices, have begun to tame the state's market.
Still, the state had to purchase $321 million in power in April and May, about 10% more than Davis' analysts had projected.
Hidlago said that was because of hot weather in May and other supply problems in April. He said reports will show that power purchases fell short of state projections in June and early July.
The reports also will show that prices paid by the state were down in June and July, partly because spot prices have fallen sharply, often to well under $100 a megawatt-hour.
A summary Department of Water Resources report released Monday credited Davis' program of nurturing new power generation and establishing long-term power contracts with with "moving the California electric energy industry closer to normalcy."

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


Below is the list of the final work we need you to bid on for the downstairs
apartment:

1.  Paint inside of bathroom cabinets
2.  Paint outside and inside of kitchen cabinets
3.  Fix bottom of drawer of kitchen cabinet located right of dishwasher
4.  Replace closet rod in front bedroom to match other closet's rod
5.  Hammer down shelf ends that are loose in closet in back bedroom
6.  Clean ends of door hardware that have drips on them.
7.  Rehang blinds (we'll have to buy new hardware for existing blinds and
then I
will have to buy new blinds if any were bent by the kids)

Did I catch everything?


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January 18, 2002

QUOTE OF THE DAY

"Reassurance is good. Cash is better."

AHMAD FAWZI,of the United Nations, on American support for Afghanistan.

NATIONAL

U.S. Hunts 5 Men Seen on Tape, Saying They May Plan Attack

The Justice Department released photos and video excerpts of five suspected Al Qaeda members on Thursday who were taped offering "martyrdom messages."

Coal Town's Hopes Clouded by Killings of 3 at Law School

As townspeople absorbed the shootings at the Appalachian School of Law, the suspect in the murders was charged on Thursday.

Screening of All Checked Bags Is Starting, but Concerns Remain

Experts predicted only  modest improvements in security, and hoped for only modest schedule   disruptions as baggage checks begin on Friday

MORE NATIONAL NEWS

"A floor lamp that spreads sunshine all over a room"

The HappyEyes (TM) Floor Lamp brings the benefits of natural
daylight indoors for glare-free lighting that's perfect for
a variety of indoor activities.

INTERNATIONAL

In Shattered Kabul, Powell Vows Longterm U.S. Help for Afghans

In a whirlwind visit to Kabul on Thursday, Secretary of State Colin L. Powell pledged "significant" assistance to help rebuild Afghanistan.

Six Israelis Slain by Palestinian Gunman

A coming-of-age ritual turned into a scene of horror on Thursday after a Palestinian gunman walked into a reception hall in northern Israel and opened fire.

India Presses Its Conditions for Pullback From Border

India will not withdraw its forces from the border with Pakistan until raids end and Pakistan hands over suspected terrorists, India's defense minister said on Thursday.

MORE INTERNATIONAL NEWS

BUSINESS

S.E.C. Leader Says Auditing Industry Can't Police Itself

The head of the Securities and Exchange Commission proposed Thursday that the accounting industry should be policed by a group dominated by outside experts.

Deals That Helped Doom Enron Began to Form in the Early 90's

The financial dealings that played a central role in Enron's collapse were begun a decade ago by the finance officer at the time, Andrew S. Fastow.

Kmart Fires Its President and Names a Chairman

Kmart fired its president and named a new chairman, but failed to reassure investors, who are waiting for concrete signs that the company will not file for bankruptcy.

MORE BUSINESS NEWS

TECHNOLOGY

Plan to Split Up Antitrust Oversight Stalls

A plan by the Bush administration to give the Justice Department responsibility for oversight of mergers involving communications, entertainment and software companies was temporarily scuttled Thursday.

Solid Consumer Spending Bolsters Microsoft

Microsoft reported second-quarter results Thursday that surpassed Wall Street's expectations in both   earnings and revenue.

I.B.M.'s Quarterly Sales and Profit Fall

I.B.M. reported that its sales and profits declined in the fourth quarter, but the results once again reflected the resilience of the world's largest computer company.

MORE TECHNOLOGY NEWS

POLITICS

Congress Rebuffed on Energy Documents

The White House refused to turn over documents demanded by Congress as part of an inquiry into workings of the administration's energy task force.

Bush's Advisers on Ethics Discuss Human Cloning

President Bush's newly appointed Council on Bioethics met for the first time and plunged into the thorny issue of human cloning.

Reopening of Senate Building Is Delayed

One day after officials declared the Hart Senate Office Building free of anthrax, they closed the building indefinitely.

MORE POLITICS NEWS

SPORTS

N.F.L. Warns Parcells About Tampering

The N.F.L., concerned that the Buccaneers and Bill Parcells may be skirting league tampering rules, issued a warning to both parties that could subject them to punishment.

Williams Leads No. 1 Duke Over Maryland

Jason Williams sank 3-pointers and made twisting shots near the basket, dazzling and dazing the Terrapins and helping Duke coast to victory.

Venus Williams Overcomes Slow Start

Venus Williams lost the first set in a hurry, but found her confidence and rhythm to top Slovakian teenager Daniela Hantuchova at the Australian Open.

MORE SPORTS NEWS

ARTS

Both Timeless and Timely: 'Roots' at Quarter-Century

Much has changed since the mini-series "Roots" aired in 1997, yet it remains a gripping tale of individuals whose  stories became an emblematic historical saga.

The Body Imperfect, 50 Years Ago and Today

There are two shows of Irving Penn nudes in town: "Dancer" at the Whitney Museum of American Art and "Earthy Bodies" at the Metropolitan Museum of Art.

In the Orbit of Funk and Hip-Hop

"One Planet Under a  Groove: Hip-Hop and Contemporary Art"  at the Bronx Museum of the Arts explores the interplay between rap music,   hip-hop culture and contemporary art

MORE ARTS NEWS

NY REGION

Grateful Egyptian Is Freed as U.S. Terror Case Fizzles

Abdallah Higazy was released because a private pilot told officials an aviation radio in Mr. Higazy's possession was his.

Contractors at Ground Zero Denied Insurance for Cleanup

Contracting companies excavating ground zero are working with energy and devotion, but without insurance.

Unemployment Rate Rises, Again, in Wake of Attack

Although the unemployment rate in New York City shot up last month to 7.4 percent, economists say the jump was not as bad as it could have been.

MORE NY REGION NEWS

OP-ED

A System Corrupted

By PAUL KRUGMAN

The Enron debacle is not just the story of a company that failed; it is the story of a   system that failed.

The Chip on China's Shoulder

By NICHOLAS D. KRISTOF

Openness and political   maturity in China is accompanied by   a dangerous sign of political immaturity: a booming, aggrieved, chip-on-the-shoulder nationalism.

The Damaged Spirit of the Sept. 11 Fund

By FRED PRICE and MITCH KLEINMAN

The rules of the Victims Compensation Fund protect airlines and others from being sued while denying victims' families fair compensation.

MORE OP-ED  NEWS

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mike swerzbin, and can you give me the deal number that you are killing,
unless you have already told sharon or amy, so that we make sure we have not
already sent a confirm.

thanks

   Kate Symes @ ECT                03/08/2001 03:38 PM

To: Kerri Thompson/Corp/Enron@ENRON
cc:

Subject: Re: natsource checkout

Mike still has about 6 deals to put in, and those are two of them. It should
just be a minute.

I'm killing a deal right now so my deal entry is tied up - who's the trader
on 541368?

Kerri Thompson@ENRON
03/08/2001 01:44 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: natsource checkout

541368
broker has coral for the cp

missing deals for mike:

buy idaho
Q3
25 mw
280.00
mid c
light load

sell aep
Q3
25 mw
290.00
mid c
light load


Stan,

Here's the latest message points from EEI regarding retail standards.

Jeff
---------------------- Forwarded by Jeff Brown/HOU/EES on 07/19/2000 09:59 AM
---------------------------

"Michael McGrath" <MMcGrath@eei.org> on 07/19/2000 08:28:52 AM
To: <Burrell.G.Kilmer@bge.com>, <geoffrey.green@cmpco.com>,
<JTG@dps.state.ny.us>, "Alice Travis" <ATravis@eei.org>, "Charles Foster"
<CFoster@eei.org>, "Elizabeth Stipnieks" <EStipnieks@eei.org>, "William
Mayer" <WMayer@eei.org>, <jbrown1@enron.com>, <nhetrick@enron.com>,
<Cacquard@erols.com>, <Rbrown@exeloncorp.com>, <jbladen@newenergy.com>,
<refuller@nyseg.com>, <jcunningham@paea.org>, <bbradley@peco-energy.com>,
<bdcrowe@peco-energy.com>, <jmminneman@pplweb.com>,
<craig.glazer@puc.state.oh.us>, <cherie-broadrick@reliantenergy.com>,
<keith-sappenfield@reliantenergy.com>, <deichenlaub@scc.state.va.us>,
<ccraven1@txu.com>, <sharon.b.grove@ucm.com>, <kathy.smith@us.abb.com>
cc:
Subject: Future of Retail UBP

Attached are talking points expressing my view of where we've been and where
we are going.

Comments appreciated!

We will doscuss next steps in the Advisory Cmte conference call tomorrow.

Thanks
  -Mike

 - UBP.advcmte.talkingpoints.doc


No problema!

	Robert Bruce@ENRON
	Sent by: Robert Bruce@ENRON
	08/17/2000 09:14 AM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: Report

per our discussion

if you integrate this into your existing exchange trading report, or if you
do a separate one for ag trading, could you put my on the distribution on
whatever report has the ag activity -- thanks, Bob
----- Forwarded by Robert Bruce/NA/Enron on 08/17/2000 09:13 AM -----

	Frank Economou
	08/16/2000 10:59 AM

		 To: Elsa Piekielniak/Corp/Enron@Enron, Erin Willis/HOU/ECT@ECT, Aneela
Charania/HOU/ECT@ECT, Matthew Lippert/HOU/ECT@ECT, Robert
Bruce/NA/Enron@Enron, Samantha T Davidson/HOU/ECT@ECT
		 cc:
		 Subject: Report


Kay and Greg:

Please see the attached information from Citibank.  The form escrow
agreement attached below is the document that our escrow agreement is based
from, so we can ignore the blank form for now.  The remaining documents are
items required for a Citibank escrow, namely an incumbency certificate from
each party and a fee schedule.  Also included are money market investment
options.  It seems that finance input from the clients may be desirable at
this point with respect to the escrow agreement and related documents.

At Citibank's request, I furnished them a copy of the letter agreement
calling for the establishment of the escrow arrangement.  Once we are in
agreement on the form of the escrow agreement and the disbursement
instructions, we need to forward those items to Citibank as well for their
review.  Please advise.  Thank you.

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

-----Original Message-----
From: Maher, Andrea M [mailto:andrea.m.maher@citi.com]
Sent: Tuesday, April 10, 2001 5:05 PM
To: 'ccampbell@kslaw.com'
Subject: Citibank's Standard Escrow documentation

Caroline,

As per our conversation please find attached the following documents:

 * Citibank's Standard Escrow Agreement
 * W-9 Tax forms
 * Incumbency Certificate
 * Money Market Investment Options
 * Fee Schedule

Please provide me with a copy of the Underlying Agreement for this
transaction as soon as is convenient.  You can provide your comments on the
escrow agreement to Estelle Lawrence via email when you are ready.

Call me with any questions,
Andrea

 <<Escrow.doc>>  <<Form-W-9-2000.pdf>>  <<INCUMB1.DOC>>  <<Immf25.doc>>
<<Enron-F6.doc>>

Andrea M. Maher
Citibank Agency & Trust Services
Tel: 212-657-1007
Fax: 212-657-4009
andrea.m.maher@citi.com

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

 - Escrow.doc
 - Form-W-9-2000.pdf
 - INCUMB1.DOC
 - Immf25.doc
 - Enron-F6.doc


FYI, I have sent a draft of a GISB to Torch.

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


Hey Mike
It will be handled however the EPA handles the allowance, emissions and the ownership data.  If the EPA shows each company as two separate entities then the SO2 program will do the same.  If we write code to handle this on our own, luck would have it that the EPA will start reporting the two companies together.  It would probably be best for you to give them a call and inquire about how they normally handle this situation.

Wade

 -----Original Message-----
From: 	Taylor, Michael E
Sent:	Friday, August 24, 2001 9:02 AM
To:	Wells, Wade
Subject:	RE: Revised SO2 Program

Wade,

On the SO2 Model, if there is an merger or acquisition, does the companies SO2 positions roll together.  For example, I am being told that Carolina Power & Light Co. was acquired by Progress Energy.  They should only show one position under Progress Energy.

Please advise,
Mike

 -----Original Message-----
From: 	Wells, Wade
Sent:	Tuesday, August 21, 2001 9:27 AM
To:	Woods, Trevor; Taylor, Michael E
Subject:	Revised SO2 Program

Attached is the latest rev.

 << File: SO2 Report.exe >>

Thanks
Wade


Carolyn:
Does this date work for Julia?  It looked like from your earlier message that
the 19th was the only date that worked.  Both the 12th and the 19th work for
me.
Just let me know which date works for both Julia and Kristina.  Thanks
Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com
----- Forwarded by Carol St Clair/HOU/ECT on 12/04/00 03:24 PM -----

	Robin Jordan@ENRON COMMUNICATIONS
	12/04/00 09:59 AM

		 To: Carol St Clair/HOU/ECT@ECT@ENRON
		 cc:
		 Subject: Re: Lunch with Julia and Kristina

Carol,

 How about Tuesday, December 12th at Noon.  I've also, confirmed with Carolyn
for Julia.

Robin Jordan
Office of the General Counsel
Enron Broadband Services
(713) 853-3246
(713) 646-8537 Fax
robin_jordan@enron.net

	Carol St Clair@ECT
	12/01/00 04:03 PM

		 To: Robin Jordan/Enron Communications@ENRON COMMUNICATIONS@ENRON
		 cc: Carolyn George/Corp/Enron@ENRON
		 Subject: Re: Lunch with Julia and Kristina

Robin:
I misread your message the first time.  The dates that I gave you are the
dates that are NOT good for me so any other date will work.  Can you and
Carolyn pick a date that works for both Julia and Kristina and just let me
know what you come up with?  Thanks.
Carol

	Robin Jordan@ENRON COMMUNICATIONS
	11/30/00 04:48 PM

		 To: Carol St Clair/HOU/ECT@ECT@ENRON
		 cc:
		 Subject: Re: Lunch with Julia and Kristina

Carol,

 At the moment she's available 12/7, 12/8 or 12/19.   Let me know this can
change at any minute.   Hope you and all your "BOYS" are doing fine.

Robin Jordan
Office of the General Counsel
Enron Broadband Services
(713) 853-3246
(713) 646-8537 Fax
robin_jordan@enron.net

	Carol St Clair@ECT
	11/30/00 03:57 PM

		 To: Carolyn George/Corp/Enron@ENRON, Robin Jordan/Enron Communications@Enron
Communications
		 cc:
		 Subject: Lunch with Julia and Kristina

Carolyn and Robin:
I would like to take Julia and Kristina out to lunch for Christmas.  Could
you please let me know which date would work best for both of them?  The
following dates are not good for me:

12/5, 12/6, 12/7, 12/8, 12/19,

Thanks.

Carol


Steve:
Here's a substantially more cleaned-version, with attachments.  There's a
hard copy on your chair.

Best,
Jeff
----- Forwarded by Jeff Dasovich/NA/Enron on 02/15/2001 05:57 PM -----

	Jeff Dasovich
	Sent by: Jeff Dasovich
	02/15/2001 05:56 PM

		 To: jdasovic@enron.com
		 cc:
		 Subject:

Jim:
It was a pleasure speaking with you yesterday.  Based on our conversation,
this email includes the following:

An Enron contact to discuss developing small-scale generation on Tribal lands.

Our views on the impediments to distributed generation and suggestions on how
to remove those impediments.

A description of the credit issues that continue to impede DWR,s ability to
sign contracts with power suppliers, and options to resolve them. Two
possible options for addressing the credit issue are 1) a California PUC
order clarifying that DWR will recover its power purchase costs through
rates, and 2) an amendment to AB1X designed to accomplish the same goal.  I
have attached talking points regarding the California PUC order and proposed
amendments to AB1X.  We believe that an amendment to AB1X is the preferable
option.

Our assessment of the supply/demand picture in California.

Our suggestions for a legislative package designed to solve both the near-
and long-term electricity crisis in California.  We will deliver to your
office tomorrow detailed legislative language.  In those materials we will
also identify existing bills that we believe can easily accommodate our
proposed language.

I hope that the information is useful.  Please do not hesitate to contact me
if you would like to discuss these materials further, or if there is anything
else that I can do to assist you.

Regards,
Ken

Contact Information to Discuss Interest Expressed by Native American Tribes
in Installing Small-scale Generation on Tribal Lands

David Parquet, Vice-President
Enron North America
101 California Street, Suite 1950
San Francisco, CA 94111
Phone: 415.782.7820
Fax: 415.782.7851

2. Key Barriers to Distributed Generation

Excessive and Unnecessary Utility Stand-by Charges

Solution: The executive orders issued by the Governor on February 14th took a
step in the right direction.  Utility stand-by charges have always been
designed by the utilities to protect their monopoly position, extract
monopoly prices from customers, or both.  But there is no reason to limit the
elimination of these charges to generation facilities that are less than
1MW.  These limits will only lengthen unnecessarily the time it takes for
California to close the significant gap between supply and demand and reduce
the risk of black outs this summer.  We would propose lifting the cap by
offering amendments to SB27X, which is designed to facilitate development of
distributed generation.

Excessive delays and costs related to interconnecting facilities with
investor-owned and municipal utilities

Solution:   The Governor,s executive order regarding interconnection is a
step in the right direction*D-D-26-01 requires utilities to complete
interconnection studies within 7 days.  California should ensure that this
requirement applies to all generation facilities, including distributed
generation.  In addition, the financial conflicts the utilities face when
interconnecting generation facilities are simply too powerful to overcome
through executive orders or other regulations.  To the greatest extent
possible, California should shift control over interconnection away from the
utility and place that control with the California ISO.  This could be
accomplished through amendments to SB 27X.

Permitting and Air Quality Issues
Developers of distributed (i.e., &on-site8) generation that is 50 MWs or
greater must receive certification from the California Energy Commission and
therefore face all of the impediments to development that large-scale
generation faces.

Solution: California should ensure that the executive orders (D-22-01 thru
D-26-01) issued by the Governor to expedite plant siting and maximize plant
output apply equally to smaller scale, &distributed generation8 facilities.
In addition, distributed generation that is less than 50 MWs continues to
face local opposition.  The State should ensure that local, parochial
interests cannot block otherwise beneficial distributed generation projects.
These objectives could be accomplished through amendments to SB27X.

3. Credit Concerns Regarding Authority Granted to DWR in AB1X to Purchase
Electricity on Behalf of the Utilities

Enron responded to the RFP issued by DWR to enter into power contracts with
suppliers.
Enron is in active discussions with DWR to establish contract terms with the
goal of entering into a power purchase agreement as soon as possible.
However, ambiguities contained in AB1X have created significant credit risk
concerns that need to be resolved in order to finalize contract terms.
We understand that the lion,s share of counterparties share Enron,s credit
risk concerns.
Enron has proposed several options for resolving the credit risk issues and
is working with DWR to arrive at a solution that is mutually agreeable to
both sides and that might serve as a template for power purchase agreements
going forward.

Summary of the Source of the Credit Risk Issue

Ambiguous Ratemaking Authority
The language in AB1X is ambiguous as to whether DWR has any authority to
charge California ratepayers for the costs of purchasing power.  From our
analysis of the bill, the language in AB1X appears to leave intact the
California PUC,s exclusive jurisdiction over ratemaking in California.  As
such, suppliers have no assurance that the PUC will agree to include in rates
adequate charges to cover DWR,s costs of power purchases.

Ambiguous Regulatory Authority Regarding Contract &Prudence8
The language in AB1X leaves open the possibility that the California Public
Utilities Commission could determine that power purchases made by DWR are
&imprudent.8  On the basis of such a finding, the CPUC could then refuse to
allow DWR to collect from ratepayers the costs associated with its power
purchases.  Consequently, suppliers have no assurance that the PUC will agree
to include in rates the charges to cover the costs of power contracts that
DWR has entered into with suppliers.

Ambiguous Language Regarding the Ratemaking Mechanism that Will Be Used to
Recover DWR,s Costs of Power Purchases
In addition to the ambiguity regarding ratemaking and regulatory authority
noted above, the language in the bill is equally ambiguous with respect to
the specific ratemaking &mechanics8 that AB1X directs the PUC to employ to
permit DWR to recover its power purchase costs. Based on our analysis, it is
extremely difficult to determine how the PUC would design the rates to ensure
DWR recovers its power purchase costs.  Moreover, as currently drafted, it is
difficult to determine whether AB1X would even permit the PUC to include in
rates all of the charges necessary to fully recover DWR,s power purchase
costs.  Again, this ambiguity raises significant credit risk concerns since
suppliers have little assurance that DWR will have the ability to recover
from ratepayers the costs of purchasing power.

Options to Resolve Concerns Regarding Credit Risk

We have been working diligently with DWR officials to resolve the credit risk
issues.  We have identified three options:

Amend AB1X
The amendments, which are attached to this email, would clarify that a) the
PUC would accept as &prudent and reasonable8 all purchase costs incurred by
DWR, and b) the PUC is obligated to include in rates the charges necessary to
ensure that DWR fully recovers its costs of power purchases.  This is the
preferred option, though we understand that the there may be some political
challenges standing in the way of amending AB1X.  (See attached file
entitled, &AmendAB1X.doc8.)

Clarify the Ambiguities in AB1X through an Order Issued by the PUC, and
through Contract Language
This is the option that we are currently working with DWR officials to
implement.  However, it is more complicated and could take significantly more
time to implement than the "legislative" fix.  We have attached electronic
copies of the talking points related to the order that the California PUC
would need to issue under this option.  (See attached file entitled,
&cpuctalkingpoints.doc.8)

Make Use of Other Instruments Designed to Address Credit Risk
As indicated in our letter responding to DWR,s RFP, we are willing to accept
other forms of credit from DWR.  Those options include a letter of credit,
cash prepayment, or an acceptable form of collateral.  DWR officials have
indicated to us that DWR prefers to pursue the second options. That is, DWR
prefers to clarify the ambiguities in AB1X through a PUC order and through
contract amendments.

4. California,s Supply-demand Picture Heading into Summer 2001

Both the California Energy Commission and Cambridge Energy Research
Associates (CERA), a private sector energy think tank, have issued reports
showing that California faces a severe supply-demand imbalance.  They differ
only on how much and how soon additional supply will be made available.  All
credible sources agree that supply will be very tight throughout the Summer
of 2001 and that unless a solution is found immediately, blackouts are
likely.

CEC and CERA both forecast that California will be short of supply this
summer by approximately 5,000 MW.   These numbers are in line with our
estimates.  California,s supply base currently has a 6% capacity margin, well
below the average 15-20%, which is recommended for reliable system operation
in the West.  Since the West relies more heavily upon hydroelectric power
than other regions, reserves are particularly important, owing to the
unpredictability of the weather and the dry year the West has experienced to
date. In the event of a low rain and snow period, the system must possess the
flexibility to respond to the reduced availability of power supply.
California,s very low reserve margin makes it especially susceptible to this
requirement.

Other reasons for reduced supply for the Summer of 2001 include the early
draw-down of reservoirs in the continual effort to manage California's severe
supply-demand gap; emissions restrictions on existing plants; and a reduced
number of customers who can be curtailed under their contracts with the
utilities.  Cambridge Energy Research Associates asserts that at the current
pace of siting, permitting and construction, adequate supplies will not be
added to correct the market imbalance until 2003 at the earliest.

CERA predicts that California is likely to face approximately 20 hours of
rolling black outs this summer.  The CEC paints a considerably more
optimistic scenario, betting that California will bring an additional 5,000
MWs on line to meet peaking summer demand.  It is our view that California
should view the CEC's "rosy scenario" with considerable skepticism.

5. Suggested Package of Legislative Proposals Designed to Solve California,s
Electricity Crisis

This email offers an overview of our proposed legislative solution.  We will
deliver to your office tomorrow specific legislative language and existing
bills that we believe can accommodate our proposals.

As we have suggested throughout the crisis, any solution to California's
crisis must focus on four issues:

Increase supply
Decrease demand
Establish a truly competitive retail electricity market
Return California,s Investor-owned utilities to solvency

Increase supply--Legislative vehicle: SB28X (Sher)
To site and construct a power plant in Texas takes approximately 2 years.
Enron and others have completed the entire process in other states in less
than a year.  In California, it takes about six years, or longer.

The Governor,s executive orders and Senator Sher,s siting reform legislation
are steps in the right direction.  Our suggested amendments can improve those
efforts by further addressing the difficulties that project developers face
in securing air emission reduction credits to meet the air permit
requirements included in the CEC's certification requirements.  Enron,s
proposal seeks to streamline the process for 1) obtaining credits and 2)
transfering credits between air districts.  In addition, it creates an
innovative emissions reduction bank to allow project sponsors to fund
emissions in advance of obtaining certification, and permits the affected air
districts to use those funds to finance projects that will produce the
required reductions in pollution emissions.

Decrease demand*Legislative Vehicle:   AB31X (Wright)
Because of the delay in getting a solution in place in California, closing
the supply-demand gap through energy conservation and efficiency offers the
best chance of avoiding blackouts this summer.  This can be accomplished most
effectively and quickly in two ways:

Buy-down demand
California is tapping into an enormous amount of money from the General Fund
to finance DWR,s power purchases.  California could likely reduce demand more
economically by running an auction to determine the payments businesses would
be willing to receive to reduce their demand for a sustained period (e.g.,
through the summer months).  DWR could easily run an on-line auction to
determine the price it could pay for these demand reductions.  To
participate, businesses would be required to have the metering equipment
necessary to monitor and verify that they are actually achieving the
reductions.  Enron has developed an on-line auction software package, &Deal
Bench,8 that it would be willing to contribute to the effort.

Use Price Signals to Incent Voluntary Curtailment
To be successful, customers need access to the following key elements:

An internet based hour-ahead price posting system to track the market price
for hour-ahead power in real time.
Real-time metering systems for baseline demand and voluntarily curtailment
verification.
Settlement process that allows for market clearing prices of energy to be
paid for load reduction (&Negawatts8).

The potential benefits of an effective demand response program would include:

&creation8 of additional summer peaking capacity in California, particularly
in the short term, without requiring construction of additional generation
resources.
reduction of  peak or super-peak load on the over-stressed California
electric system, thus potentially reducing the overall cost of electricity in
the state.
fostering of demand elasticity without subjecting customers to the full risk
of hourly market price volatility by passing market price signals to
customers and allowing them to voluntarily shed load and be compensated for
responding.

We estimate that we could generate a summer 2001 on-peak demand response in
excess of 400 MW during certain high cost hours, and a demand response for
summer 2002 on-peak hours that could exceed 1000 MW.  We further estimate
that the market response to this program from all ESPs could be 2 to 3 times
that amount.  We recommend that the State of California provide rebates
directly to customers to fund the installation of advanced metering and
control systems that would support load curtailment implementation.

Establish a truly competitive retail electricity market*Legislative vehicle:
SB27X
The only customers who were protected from price volatility in San Diego were
customers who chose Direct Access and signed fixed price deals with energy
service providers.  Ironically, AB1X takes that important option away from
customers and businesses.  It is critical that AB1X be amended to remove the
prohibition against Direct Access.

Enron's legislative proposal would give customers freedom to enter into a
direct access transaction, while simultaneously addressing the Department of
Water Resources' concerns about stranded power costs that might result from
customer migration.

In addition, California will only achieve a competitive retail market when
the utility is removed completely from the procurement function.  Procurement
is not a utility core competency, as evidenced by the dire financial
condition in which the utilities now find themselves.  California should
therefore begin immediately to phase the utility out of the procurement
function entirely, with the goal of having all customers served by a
non-utility provider within 36 months.  To execute the transition, California
should hold a series of competitive solicitations over the 36-month period in
which competing service providers would bid for the right to serve segments
of utility load.

Return California,s Investor-owned utilities to solvency*Legislative vehicle:
AB18X
Utility bankruptcy will not increase supply and it will not decrease demand.
In short, bankruptcy does nothing to solve California,s supply-demand
imbalance.  In addition, bankruptcy increases the likelihood that consumers
and businesses will bear the significant financial risks of having California
State government assume the role of &electricity buyer8 for an extended
period of time.  Finally, bankruptcy will undermine both investor confidence
in California's energy markets and the private sector's willingness to
participate in that market.

California can return the utilities to financial solvency by implementing a
series of staged rate increases.  California should design those rate
increases with the dual goal of returning the utilities to solvency without
&shocking8 the economy or household budgets For example, California could
amortize the recovery of the utilities, past debt over a 5-10 year period.
In addition, the magnitude of the rate increase can be reduced in two ways:
First, the utilities could absorb some portion of their existing debt in
recognition of the risk they accepted when they agreed to the structure of AB
1890.  Second, California can &net8 the revenues the utilities have received
from selling electricity into the Power Exchange against the debts they have
accrued due to the retail price cap.


Reliant's statement is attached for your reference.
--

----------
>From: "Katie Kaplan" <kaplan@iepa.com>
>To: "Pigott Jack" <jackp@calpine.com>, "Douglas Kerner" <DKK@eslawfirm.com>,
"Andy Brown" <ABB@eslawfirm.com>, "B Brown Andy" <andybrwn@earthlink.net>,
"Bob Weisenmiller" <rbw@mrwassoc.com>, "Jan Smutny-Jones" <smutny@iepa.com>,
"Jean Munoz" <jmunoz@mcnallytemple.com>, "Jeff Dasovich"
<Jeff.Dasovich@enron.com>, "John Stout" <John_H_Stout@reliantenergy.com>,
"Julee Malinowski-Ball" <jmball@ns.net>, "Karen Edson" <kedson@ns.net>,
"Kassandra Gough" <kgough@calpine.com>, "kent Palmerton"
<kent.palmerton@williams.com>, "Kristin Vellandi"
<kvellandi@pstrategies.com>, "Marty Wilson" <mwilson@pstrategies.com>,
"McNally Ray" <rmcnally@mcnallytemple.com>, "Norton Kelli"
<knorton@mcnallytemple.com>, "Paula Hall-Collins"
<paula.hall-collins@williams.com>, "Richard Hyde" <rwhyde@duke-energy.com>,
"Stephanie-Newell" <stephanie-newell@reliantenergy.com>, "Sue Mara"
<smara@enron.com>, "Tom Ross" <tross@mcnallytemple.com>, "Kate Castillo"
<ccastillo@riobravo-gm.com>, "Bill Carlson" <wcarlson@wm.com>, "Bill Woods"
<billw@calpine.com>, "Bob Escalante" <rescalante@riobravo-gm.com>, "Carolyn
Baker" <cabaker@duke-energy.com>, "Cody Carter" <cody.carter@williams.com>,
"Curt Hatton" <curt.hatton@gen.pge.com>, "Curtis Kebler"
<curtis_l_kebler@reliantenergy.com>, "Dave Parquet" <dparque@ect.enron.com>,
"Dean Gosselin" <dean_gosselin@fpl.com>, "Duane Nelsen"
<dnelsen@gwfpower.com>, "Ed Tomeo" <ed.tomeo@uaecorp.com>, "Eileen Koch"
<eileenk@calpine.com>, "Eric Eisenman" <eric.eisenman@neg.pge.com>, "Frank
DeRosa" <frank.derosa@gen.pge.com>, "Greg Blue" <gtbl@dynegy.com>, "Hap
Boyd" <hap.boyd@enron.com>, "Jack Pigott" <jackp@calpine.com>, "Jeff
Dasovich" <jdasovic@enron.com>, "Jim Willey" <elliottsa@earthlink.net>, "Joe
Greco" <joe.greco@uaecorp.com>, "Joe Ronan" <joer@calpine.com>, "Jonathan
Weisgall" <jweisgall@aol.com>, "Ken Hoffman" <khoffman@caithnessenergy.com>,
"Kent Fickett" <kfickett@usgen.com>, "Lynn Lednicky" <lale@dynegy.com>,
"Marty McFadden" <marty_mcfadden@ogden-energy.com>, "Paula Soos"
<paula_soos@ogden-energy.com>, "Randy Hickok" <rjhickok@duke-energy.com>,
"Rob Lamkin" <rllamkin@seiworldwide.com>, "Roger Pelote"
<roger.pelote@williams.com>, "Scott Noll" <snoll@thermoecotek.com>, "Steve
Iliff" <siliff@riobravo-gm.com>, "Steve Ponder" <steve_ponder@fpl.com>,
"Susan J Mara" <Susan_J_Mara@enron.com>, "Tony Wetzel"
<twetzel@thermoecotek.com>, "Trond Aschehoug" <taschehoug@thermoecotek.com>,
"William Hall" <wfhall2@duke-energy.com>, <kaplan@iepa.com>
>Cc: "Jan Smutny-Jones" <smutny@iepa.com>, "Julee Malinowski-Ball"
<jmball@ns.net>, "Karen Edson" <kedson@ns.net>, "Steven Kelly"
<steven@iepa.com>
>Subject: FW: FERC order
>Date: Fri, Dec 15, 2000, 4:09 PM
>

> We sent this release out today regarding the FERC order
>
>
> Contact:  Jean Munoz     FOR IMMEDIATE RELEASE
>       916-447-8186      December 15, 2000
>
>
> Statement from Jan Smutny-Jones, Executive Director of Independent Energy
> Producers, Regarding today's Ruling by the Federal Energy Regulatory
> Commission:
>
> "While we have not yet had the opportunity to review the entire FERC order,
> we
> commend the FERC for encouraging long term fixed price contracts - a
> solution
> IEP members have been advocating and offering since June.
>
> "We are committed to continuing to be part of the solution and look forward
> to
> moving toward a truly competitive electricity market that delivers a
> reliable
> supply of clean and affordable energy to the state's business and
> residential
> consumers."
>
>
>
> #   #   #
>
> Katie Kaplan
> Manager of State Policy Affairs
> Independent Energy Producers Association
> (916) 448-9499
>
>
>
>
>
 - stout statement 12-15.doc


Both Legal.

Rgds,

Sandra.

From: Tana Jones on 16/05/2000 13:08 CDT
To: Sandra Freeman/LON/ECT@ECT
cc:

Subject: Re: New Master Swaps Agreements Database

Are Micheal Khajeh-Hoori and Deepak Sitlani in Credit?  I know Michael Schuh
is in Legal.

	Sandra Freeman
	05/16/2000 11:37 AM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: New Master Swaps Agreements Database

Tana,

I have had a request from Michael Khajeh-Noori, Deepak Sitlani (London) and
Michael Schuh  (Frankfurt) to access to the NEW Master Swap Agreements
database, can you please confirm if they are allowed to access this database,
and if so what level of access they should have.

Thanks & Regards

Sandra Freeman
European Notes Administration


I know you guys are still entering trades but for the record I am missing the
following:

Mike Swerzbin:
Enron sells to BP Amoco 25 mw of Q4'01 Palo Verde at $175 peak hrs. ---Amerex
is broker
Enron sells to Williams 25 mw of Q4'01 Palo Verde at $175 peak hrs,---Amerex
is broker

Tom Alonso:
Enron sells to Merrill 25 mw of March PV at $215  peak hrs,----Bloomberg is
broker

Thanks!!


Not a word.

From: Suzanne Adams@ECT on 05/24/2001 04:25 PM
To: Kay Mann/Corp/Enron@ENRON
cc:

Subject: Re: Matching gift

Did you ever hear about this matter?

	Kay Mann@ENRON
	05/22/2001 01:55 PM

		 To: community-relations@enron.com
		 cc: (bcc: Suzanne Adams/HOU/ECT)
		 Subject: Matching gift

Hello.

I gave the Matagorda County Fair & Livestock Association $2050, and filled
out the form for the match.  Please advise if this has been paid, as they are
sending me a bill for the $2050, plus a finance charge.

Thank you,

Kay Mann
x57566


Gary,

Any interest in this candidate? His profile
does not exactly match my  requirements.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 11/14/2000
04:37 PM ---------------------------

"Paul Rowady" <epr@pipeline.com> on 11/14/2000 04:09:43 PM
To: "Vince Kaminski" <vkamins@enron.com>
cc:
Subject: Seeking opportunity in computational finance

Dear Vince:

In following up on my voicemail message today, I attach my resume below for
your review and consideration.

It's ironic that you called while I was putting the message together.  I
will keep it short and look forward to speaking to you at your convenience.

Best regards,

Paul

E. Paul Rowady, Jr.
2300 West Alabama, Suite 69
Houston, Texas  77098

713-807-8624   home / fax
713-539-4541   mobile
epr@pipeline.com

 - Paul Rowady2.doc


----- Forwarded by Tana Jones/HOU/ECT on 09/12/2000 11:02 AM -----

	Mary Lynne Ruffer
	09/12/2000 10:24 AM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: Re: (00-323) Margin Change for Crude Oil, Unleaded Gasoline, and
Heating Oil

Pls change my name to Greg Whiting.  Thanks.

From: Tana Jones on 09/12/2000 08:52 AM
To: Mary Lynne Ruffer/HOU/ECT@ECT
cc:
Subject: (00-323) Margin Change for Crude Oil, Unleaded Gasoline, and Heating
Oil

Mary Lynne,

These notices will be coming by email on a going forward basis.
----- Forwarded by Tana Jones/HOU/ECT on 09/12/2000 08:51 AM -----

	exchangeinfo@nymex.com
	09/12/2000 09:38 AM

		 To: tana.jones@enron.com
		 cc:
		 Subject: (00-323) Margin Change for Crude Oil, Unleaded Gasoline, and
Heating Oil

Notice No. 00-323
September 12, 2000

TO:
ALL NYMEX MEMBERS AND MEMBER FIRMS
ALL NYMEX CLEARING FIRMS
ALL NYMEX OPERATIONS MANAGERS

FROM: Neal Wolkoff, Executive Vice President

SUBJECT: MARGIN RATE CHANGE

Effective Date: Tuesday, September 12, 2000 (close of business)

Futures Contracts:
Crude Oil Futures
Unleaded Gasoline Futures
Heating Oil Futures

Contract Months: All Months

Rate Change:

NYMEX Division Margins on Crude Oil, Unleaded Gasoline, and Heating Oil
Futures Contracts

Effective at Close of Business on Tuesday, September 12, 2000
Clearing Member (Maintenance Margin) Old: $2,500 New: $3,000
Member Customer (Initial Margin) Old: $2,750 New: $3,300
Non-Member Customer (Initial Margin) Old: $3,375 New: $4,050

The margin credit for NYMEX Light Sweet Crude/IPE Brent Crude Oil futures
spread positions will also be increased, from $2,000 to $2,500 (at the
Clearing Member level), as of Tuesday, September 12, 2000.  The net margin
after the spread will remain unchanged.

Effective at Close of Business on Tuesday, September 12, 2000

Clearing Member(Maintenance Margin)
NYMEX Light Sweet Crude: $3,000
Less NYMEX Light Sweet/IPE Brent Crude Spread Credit: $2,500
Net Margin of Spread: $500

Member Customer (Initial Margin)
NYMEX Light Sweet Crude: $3,300
Less NYMEX Light Sweet/IPE Brent Crude Spread Credit: $2,750
Net Margin of Spread: $550

Non-Member Customer (Initial Margin)
NYMEX Light Sweet Crude: $4,050
Less NYMEX Light Sweet/IPE Brent Crude Spread Credit: $3,375
Net Margin of Spread: $675

Should you have any questions regarding these changes, please contact Artie
McCoy at (212) 299-2928 or Joe Sanguedolce at (212) 299-2855.  This notice
supersedes all previous notices regarding outright margins for the NYMEX
Crude Oil, Unleaded Gasoline, or Heating Oil Futures Contracts and the margin
credit for the NYMEX Light Sweet Crude Oil/IPE Brent Crude futures spread
positions.

__________________________________________________
Please click on the link below to indicate you have received this
email.

"
http://208.206.41.61/email/email_log.cfm?useremail=tana.jones@enron.com&refdoc
=(00-323)"

Note: If you click on the above line and nothing happens, please copy
the text between the quotes, open your internet browser,
paste it into the web site address and press Return.


?
 - Bush Ballot.doc


I was just wondering if there was any more information available regarding
the upcoming Super Saturday events.  I would be glad to help out in any
capacity.

Thanks,
Susan


Neither Susan has any comparisons.  Flynn eagerly volunteered amendments
she's got lying around.  I'm indifferent although I wonder if Flynn is simply
trying to use the system.


Enron'd bid removed
Pulpex prices included

Let me know of anything additional,
Monika


A full backup of our Lotus Notes Server was provided to Enron at the close of
sale.  Please delete any and all old information that you no longer require.
Our server is nearly full.

Thank you.

--D


yes.

	From:  Jennifer Fraser                           11/09/2000 08:14 AM

To: Jeffrey A Shankman/HOU/ECT@ECT
cc:
Subject: Summary Report of all Crude and Product Markets

This  summarizes fundamentally and technically what goes on in all the
markets each day. It is a daily report. PLease review it and let me if you
want it  each day
JF
---------------------- Forwarded by Jennifer Fraser/HOU/ECT on 11/09/2000
08:12 AM ---------------------------

	Enron North America Corp.

	From:  Melinda Joyce Lynn                           11/09/2000 08:10 AM

To: Jennifer Fraser/HOU/ECT@ECT
cc:
Subject: The ATS Report

---------------------- Forwarded by Melinda Joyce Lynn/HOU/ECT on 11/09/2000
08:07 AM ---------------------------

"ATS, Inc." <msw-ats@neosoft.com> on 11/08/2000 06:48:18 PM
To: <msw-ats@neosoft.com>
cc:
Subject: The ATS Report

Best Regards,
Michael Williams
Applied Trading Systems, Inc.
Ph. 713 683 8384
Fax 713 683 8769
 - ar110800.doc


---------------------- Forwarded by Richard Shapiro/NA/Enron on 01/03/2001
03:38 PM ---------------------------

	From:  Ann M Schmidt                           01/03/2001 03:31 PM

To: Karen Denne/Corp/Enron@ENRON, Vance Meyer/NA/Enron@ENRON, Meredith
Philipp/Corp/Enron@ENRON, Steven J Kean/NA/Enron@Enron, Eric
Thode/Corp/Enron@ENRON, James D Steffes/NA/Enron@Enron, Richard
Shapiro/NA/Enron@Enron, Damon Harvey/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Gia
Maisashvili/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, John
Neslage/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:

Subject: USA Today Opinion - Electricity Prices

http://www.usatoday.com/news/comment/debate.htm

	01/03/01- Updated 02:37 AM ET

		?
		Prices spike as Calif. bungles deregulation
		When Californians bought into the idea of deregulated electricity in 1996,
they did so on the promise they'd get reliable power at cheap prices.
Instead, they're facing power shortages and whopping bills.
		The state's public utilities commission is scheduled to decide Thursday
whether to let two big utilities raise rates by up to 30%, ending a price
freeze that was supposed to last until 2002. Financially strapped utilities,
meanwhile, are threatening blackouts.
		With electricity deregulation underway in 23 other states, households
nationwide should be wondering whether they'll be next to face
California-style chaos. It is a red flag that electricity deregulation, which
continues to hold promise for lower rates, must be approached cautiously and
gradually.
		California made a series of remarkably large blunders, many encouraged by
utilities, that set the state on a dangerous path to deregulation without the
competition needed to hold down prices. Unless the state corrects those
errors, matters will get worse when full deregulation comes in two years.
Much of the state could be served by power monopolies free to hike prices.
		The good news is that other deregulating states have planned better, though
the process in those states is less advanced than in California.
		Among California's failings:
		Utilities were barred from raising rates to consumers but had to cope with
market prices from power plants. When deregulation began, the utilities
heartily backed the arrangement, because the frozen prices were far higher
than the market prices they paid. Now, with a national energy shortage
pushing prices higher, they're worried about bankruptcy, threatening
blackouts and pleading for relief. Some seek re-regulation to protect
themselves from their own ineptitude.
		The state failed to bring enough new supply online before deregulating. No
major plants were built in the previous decade, contributing to a supply
crunch in a state where electricity demand has been growing 4%-6% per year.
By contrast, Texas, which is rolling out its deregulation more slowly, has
since 1996 built 23 new plants that have added 15% more power-generation.
		California tried to manipulate prices and blew it. The state required
utilities to buy all of their power from a "power exchange" in short-term
blocks. This prevented utilities from entering long-term contracts or
adopting hedging strategies that could keep prices stable. After prices
spiked, the government worsened the situation by trying to cap prices
utilities could pay for power. Not surprisingly, power suppliers then sold
their electricity to other states without price caps, where they could get a
better return. Result: power shortages rectified only by an emergency federal
order that some out-of-state plants in the West sell California electricity.
Price controls were lifted.
		Other states have avoided this problem. New York, for instance, encouraged
its utilities to enter into "transition contracts" under which plants have an
obligation to sell them power. Similarly, Texas has long-term contracts,
under which the utilities buy power for long periods at set prices, allowing
them to hedge against short-term changes in price.
		The price of all this bungling will be huge for Californians, but households
outside California may pay as well. The Western plants that the federal
government has forced to supply California's thirst could in time have
difficulty supplying their traditional customers, driving up their prices. In
the extreme, the financial instability of California utilities Pacific Gas
and Electric and Southern California Edison could roil markets and add to
recession pressures.
		At a minimum, most Californians will soon face significant financial pain *
unwarranted on their part * to pay for the botched deregulation either
through taxes or higher rates. If this bailout isn't accompanied by new
rules, the 2002 ending of price caps may bring the worst of all worlds:
monopoly markets without price controls.
		Long term, the best hope for controlling prices is competition, but
California has yet to come up with a convincing plan to make sure that
exists. In fact, in the San Diego area, where controls were briefly lifted
without significant new competition, prices more than doubled.
		Some advocacy groups and politicians are calling for more radical solutions,
such as a state buyout of the utilities or simple refusal to pay the
utilities on the grounds they must be hiding money somewhere. The utilities,
having tasted their own medicine, now say they'd support re-regulation.
		But none of these fixes would save California's consumers from the dim-bulb
management that has put the state at risk of power outages and financial
catastrophe.
		California Gov. Gray Davis' said recently that "if deregulation fails in
California, it is dead in America." To the contrary, as California does its
repair work, the rest of the county will be taking notes on how not to
deregulate as carelessly as California did.

			?

			?
			?
			?
			?

	01/03/01- Updated 02:38 AM ET

		?
		Learn from California mistake
		By Harvey Rosenfield and Douglas Heller
		The myth of electricity deregulation has met reality in California, and the
result is a $40 billion debacle.
		Awash in energy-industry campaign contributions, California lawmakers freed
the state's utility companies of price controls in 1996. Consumers were
ordered to pay off the utilities' debts, after which competition was supposed
to kick in, guaranteeing a 20% rate cut by 2002.
		Deregulation proved a bonanza for the utilities. They sold some of their
power plants and collected $19 billion in ratepayer subsidies. They used the
money to purchase plants in other countries, reward their executives with
huge pay raises, buy back stock and increase dividends. Profits reached
record levels this year.
		Envious, the handful of unregulated companies that control nearly half of the
state's electricity generation decided to cash in, too. This cartel began to
withhold power, causing shortages that boosted the wholesale price of
electricity that utility companies must buy by 3,900%. But, ironically,
because of the way they wrote the deregulation law, the utilities are
forbidden to pass the higher costs on to most consumers until 2002.
		Now the companies want to rewrite the law. When public officials resisted the
utilities' demands for immediate rate hikes, the utilities threatened
blackouts and bankruptcy. When that economic extortion failed, Wall Street
issued an ultimatum: Order a 20% rate hike within 48 hours, as a first
installment of an $11 billion ratepayer bailout, or Wall Street would itself
force the utilities into bankruptcy.
		California has learned the hard way that electricity is too vital to be left
in the hands of unregulated corporations whose sole interest is maximizing
profits. Facing a ratepayer revolt, state officials have re-imposed
regulation. To make electricity reliable and affordable once more, they are
considering establishing a non-profit, publicly owned power system for the
state. But, in the meantime, the deregulation disaster could end up costing
each Californian $12,500.
		Meanwhile, elsewhere in the nation, corporate-funded ideologues and academics
continue to promote electricity deregulation, much as they promoted loosening
controls on savings and loans in the 1980s.
		Whenever you hear the word "deregulation," hold onto your wallets: Some
industry is about to pick your pocket.
		Harvey Rosenfield and Douglas Heller are consumer advocates with the
Foundation for Taxpayer and Consumer Rights. Its Web site:
www.consumerwatchdog.org.


Gentlemen,

Delano has informed me that they are reducing their variable costs from $40 to $30.  So, this pretty much eliminates the morning buy-back strategy, unless of course you can pick up power in SP15 for below $30.

Thanks for your help and hard work,
Stan


Kam had told me you were in.  We only have three in our room - you, goss and
myself.  The room will be $200 per person total.  You can pay me when we get
there or when we leave or send me a check in the mail.  I have only paid one
night deposit.  I get in about 7:45 Vegas time on Wednesday, if you are
getting there before me, let me know so that I can get the hotel your name to
check in.  See you there.
PL


- Colonize.com.htm


---------------------- Forwarded by Darron C Giron/HOU/ECT on 08/18/2000
08:46 AM ---------------------------

Scott Crowell <scott.crowell@oracle.com> on 08/17/2000 11:29:50 AM
To: undisclosed-recipients:;
cc:
Subject: CEO of ORACLE said that....(Interesting Article)

Return-Path: <ValerieParker@carltechinc.com>
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From: Valerie Parker <ValerieParker@carltechinc.com>
Subject: FW: CEO of ORACLE said that....(Interesting Article)
Date: Wed, 16 Aug 2000 16:43:35 -0500
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> ------------------------------------------------------------------------
> Care to hear what Larry Ellison,CEO of ORACLE (2nd Richest Man on the
> Planet) said at the Convocation of the Yale University last month:
> "Graduates of Yale University, I want you to do something for me.  Please,
> take a good look around you. Look at the classmate on your left. Look at
> the classmate on your right. Now, consider this:
> Five years from now, 10 years from now, even 30 thirty years from now,
> odds are the person on your left is going to be a loser.  The person on
> your right, meanwhile, will also be a loser. And you, in the middle? What
> can you expect? Loser. Loserhood.  Loser Cum Laude.  "In fact, as I look
> out before me today, I don't see a thousand hopes for a bright tomorrow. I
> don't see a thousand future leaders in a thousand industries. I see a
> thousand losers.  "You're upset. That's understandable. After all, how can
> I, Lawrence 'Larry' Ellison, college dropout, have the audacity to spout
> such heresy to the graduating class of one of the nation's most
> prestigious institutions?  I'll tell you why. Because I, Lawrence "Larry"
> Ellison, second richest man on the planet, am a college dropout, and you
> are not.  "Because Bill Gates, richest man on the planet-for now,
> anyway-is a college dropout, and you are not.  "Because Paul Allen, the
> third richest man on the planet, dropped out of college, and you did not.
> "And for good measure, because Michael Dell, No. 9 on the list and moving
> up fast, is a college dropout, and you, yet again, are not." "Hmm...
> you're very upset. That's understandable. So let me stroke your egos for a
> moment by pointing out, quite sincerely, that your diplomas were not
> attained in vain. Most of you, I imagine, have spent four to five years
> here, and in many ways what you've learned and endured will serve you well
> in the years ahead. You've established good work habits. You've
> established a network of people that will help you down the road. And
> you've established what will be lifelong relationships with the word
> 'therapy.' All that of is good. For in truth, you will need that network.
> You will need those strong work habits.  You will need that therapy.
> "You will need them because you didn't drop out, and so you will never be
> among the richest people in the world. Oh sure, you may, perhaps, work
> your way up to No. 10 or No. 11, like Steve Ballmer. But then, I don't
> have to tell you who he really works for, do I? And for the record, he
> dropped out of grad school. Bit of a late bloomer.
> "Finally, I realize that many of you, and hopefully by now most of you,
> are wondering, 'Is there anything I can do? Is there any hope for me at
> all?' Actually, no. It's too late. You've absorbed too much, think you
> know too much. You're not 19 anymore. You have a built-in cap, and I'm not
> referring to the mortar boards on your heads."
> "Hmm... you're really very upset. That's understandable. So perhaps this
> would be a good time to bring up the silver lining.  Not for you, Class of
> '00. You are a write-off, so I'll let you slink off to your pathetic
> $200,000-a-year jobs, where your checks will be signed by former
> classmates who dropped out two years ago."
> "Instead, I want to give hope to any underclassmen here today. I say to
> you, and I can't stress this enough: leave. Pack your things and your
> ideas and don't come back. Drop out. Start up.  "For I can tell you that a
> cap and gown will keep you down just as surely ..."
>
> ------------------------------------------------------------
> Visit us at: http://www.nba.com.pk/ <<http://www.nba.com.pk/>>
> Email: computers@nba.com.pk <<mailto:computers@nba.com.pk>>
>
> ________________________________________________________________________
> Get Your Private, Free E-mail from MSN Hotmail at http://www.hotmail.com
> <<http://www.hotmail.com>>

 - scott.crowell.vcf


---------------------- Forwarded by Mike McConnell/HOU/ECT on 01/08/2001
12:47 PM ---------------------------

"Avery, Marvin" <Marvin.Avery@CoastalCorp.Com> on 01/08/2001 09:41:23 AM
To: "'Mike.McConnell@enron.com'" <Mike.McConnell@enron.com>,
"'Philippe.A.Bibi@enron.com'" <Philippe.A.Bibi@enron.com>
cc:
Subject: FW: Manager, Information Technology Job #107224-Chron

FYI ... I received a Message Delivery Failure on your "enron.com" domain, so
I decided to try to forward the message to you again.

-----Original Message-----
From: Avery, Marvin
Sent: Monday, January 08, 2001 9:35 AM
To: 'HRGES@enron.com'
Cc: 'Mike.McConnell@enron.com'; 'Philippe.A.Bibi@Enron.com';
'sschnei@ect.enron.com'
Subject: Manager, Information Technology Job #107224-Chron

I noticed a great job opportunity at Enron in the Houston Chronicle
yesterday that appears to be a perfect fit for my experience.  My resume
with the appropriate "Job #107224-Chron" in the header section is attached
for your review.  I really look forward to receiving your telephone call.

Thank you for your time and consideration!

Sincerely,
Marvin Avery
(713) 877-3081

 <<Marvin Avery.doc>>

 - Marvin Avery.doc


We have removed from CRAN the seemingly faulty version of R 1.4.0 for
Windows and replaced it by the one I built on Dec 20 that is known to work
with grid and lattice.

I've built a SetupR-patched.exe today from the current R-patched sources
and with the latest versions of the recommended packages.  You might
prefer to change to that if you want to re-install: otherwise wait for
R 1.4.1 in a week or so.  As this is a snapshot, it is only minimally
tested.

These will propogate around CRAN in due course, but are available at
http://www.stats.ox.ac.uk/pub/RWin.

--
Brian D. Ripley,                  ripley@stats.ox.ac.uk
Professor of Applied Statistics,  http://www.stats.ox.ac.uk/~ripley/
University of Oxford,             Tel:  +44 1865 272861 (self)
1 South Parks Road,                     +44 1865 272860 (secr)
Oxford OX1 3TG, UK                Fax:  +44 1865 272595

-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-
r-help mailing list -- Read http://www.ci.tuwien.ac.at/~hornik/R/R-FAQ.html
Send "info", "help", or "[un]subscribe"
(in the "body", not the subject !)  To: r-help-request@stat.math.ethz.ch
_._._._._._._._._._._._._._._._._._._._._._._._._._._._._._._._._._._._._._._._


-----Original Message-----
From: 	SOblander@carrfut.com@ENRON [mailto:IMCEANOTES-SOblander+40carrfut+2Ecom+40ENRON@ENRON.com]
Sent:	Thursday, May 17, 2001 7:26 AM
To:	soblander@carrfut.com
Subject:	ALL daily charts and matrices as hot links 5/17

The information contained herein is based on sources that we believe to be
reliable, but we do not represent that it is accurate or complete.  Nothing
contained herein should be considered as an offer to sell or a solicitation
of an offer to buy any financial instruments discussed herein.  Any
opinions expressed herein are solely those of the author.  As such, they
may differ in material respects from those of, or expressed or published by
on behalf of Carr Futures or its officers, directors, employees or
affiliates.  ? 2001 Carr Futures

The charts are now available on the web by clicking on the hot link(s)
contained in this email. If for any reason you are unable to receive the
charts via the web, please contact me via email and I will email the charts
to you as attachments.

Crude     http://www.carrfut.com/research/Energy1/crude11.pdf
Natural Gas     http://www.carrfut.com/research/Energy1/ngas11.pdf
Distillate     http://www.carrfut.com/research/Energy1/hoil11.pdf
Unleaded     http://www.carrfut.com/research/Energy1/unlded11.pdf

Nat Gas Strip Matrix
http://www.carrfut.com/research/Energy1/StripmatrixNG11.pdf
Nat Gas Spread Matrix
http://www.carrfut.com/research/Energy1/SpreadmatrixNG11.pdf

Crude and Products Spread Matrix
http://www.carrfut.com/research/Energy1/SpreadmatrixCL11.pdf

Carr Futures
150 S. Wacker Dr., Suite 1500
Chicago, IL 60606  USA
Tel:  312-368-6149
Fax:  312-368-2281
soblander@carrfut.com
http://www.carrfut.com


Tana to check on status.  Jason has this file and has not heard anything from
ENA or the CP.

Click on this link to view the document in the Financial Trading Agreements
database-->


-----Original Message-----
From: 	Hewett, Jackie
Sent:	Tuesday, December 11, 2001 11:22 AM
To:	E Fisher (E-mail); Lawrence, Ed; hershy harty (E-mail); jansgrapevine (E-mail); Rosemarie (E-mail); Sosa, Frank; Campbell, Larry; Grace Community Church (E-mail)
Subject:	FW: Why Christmas?

 -----Original Message-----
From: 	Brickman, Ronnie
Sent:	Tuesday, 12 11, 2001 08:55
To:	Matt Ammerman; Ashe, Molly; Bailey, Arnie; Bill_Baird@eott.com; Baker, Amy; ballardjk@yahoo.com; Bandel, Bob; CallieB23@aol.com; lylelinda@logixonline.net; Boothe, David; brennan@centramedia.net; Brickman, Susan Jane; max_five@yahoo.com; Brown, Ricky; Carbajal, David; rd_cates@yahoo.com; Clark, Scott; Clements, Carol; charlotte.collier@region16.net; mkdean@pldi.net; sdevor@hotmail.com; Fitzwater, Sandra; Floyd, Jodie; Foutz, Lawrence; aalbers@amaonline.com; Gokey, Ray; Hamilton, Luke; mark haney; Heitman, Dick; Hewett, Jackie; Howard, Randy; JHubbard@NEELY.com; Jolly, Rich; Ingalls, Todd; Jones, Sandra; Jordan, Fred; Chelsea Kroger; Lachapelle, Bobbie; Lawrence, James R.; Loveless, Rick; gcmlwd@nts-online.net; Metzler, Verlene; Rhett O'Briant; jkpenry@hotmail.com; Ragsdale, John; Robyn Penry; Roensch, David; dross@logixonline.net; simpson5@itl2.itlnet.net; Smith, Rick; Sommer, Carol; Sosa, Frank; cherylas@amaonline.com; Team EOTT-Whiteoak,; mthomason@logixonline.net; Thompson, Charlie; touchstoneleroy@hotmail.com; Urban, Larry; Calvin and Verna; mwallace@fone.net; theranch@logixonline.net; Wier, Gloria; Williams, Sammy; tate.williams@frco.com; Williams, Walt; billwood@nts-online.net; mmpmw@aol.com
Subject:	Why Christmas?

There was once a man who didn't believe in God, and he
didn't hesitate to let others know how he felt about religion and
religious holidays, like Christmas. His wife, however, did
believe, and she raised their children to also  have faith in
God and Jesus, despite  his disparaging comments.

One snowy Christmas Eve, his wife was taking  their children
to a Christmas Eve service in the farm  community in which they
lived.  She  asked him to come, but he refused.

"That story is nonsense!" he said. "Why would  God lower
Himself to come to Earth as a man?  That's ridiculous!" So
she and the children left,  and he stayed home.

A while later, the winds grew stronger and the  snow turned
into a blizzard.  As the man  looked out the window, all he
saw was a blinding snowstorm.   He sat down to relax before
the fire for the evening. Then he heard  a loud thump.
Something had hit the window. Then another  thump. He
looked out, but couldn't see  more than a few feet. When the
snow let up a little, he ventured  outside to see what could
have been beating on  his window.  In the field near his
house he saw a flock of wild geese. Apparently  they had been
flying south for the winter when they got  caught in the snowstorm
and couldn't go on. They were lost and  stranded on his farm, with no
food or shelter. They just flapped  their wings and flew around the field
in low circles, blindly and  aimlessly. A couple of them had flown into
his window, it  seemed.

The man felt sorry for the geese and wanted to  help them. The barn
would  be a great place for them to stay,  he thought. It's warm and safe;
surely they could spend the night  and wait out the storm. So he walked over to
the barn and  opened the doors wide, then watched and waited, hoping they
would notice the open barn and go inside. But the geese just  fluttered around
aimlessly and didn't seem to notice the barn or  realize what it could mean
for them.  The man tried to get  their attention, but that just seemed to scare
them and they  moved further away. He went into the house and came with  some
bread, broke it up, and made a breadcrumbs trail leading to  the barn.  They
still didn't catch on.

Now he was getting frustrated. He got behind  them and tried to shoo them
toward the barn, but they only got more scared  and scattered in every
direction except toward the barn. Nothing he  did could get them to go into
the barn where they would be warm  and safe. "Why don't they follow me?!"
he exclaimed.  "Can't they see this is the only place where they  can survive
the storm?" He thought for a moment and realized  that they just wouldn't follow
a human. "If only I were a  goose, then I could save them," he said out loud.

Then  he had an idea. He went into barn, got one of his own geese, and carried it  in his  arms as he circled around behind the flock of  wild   geese.  He then released it. His goose flew through the flock and  straight into the barn--and one by one the other geese followed it to  safety.

He stood silently for a moment as the words he  had spoken a few minutes earlier replayed in his mind: "If only I were  a goose, then I  could save them!" Then he thought about what he  had said to his wife earlier.

"Why would God want to be like us? That's  ridiculous!"

Suddenly it all made sense. That is what God  had done. We were like the
geese--blind, lost, perishing. God had His Son  become like us so He could
show us the way and save us. That was  the meaning of Christmas, he realized.

As the winds and blinding snow died down, his soul became quiet
and pondered this wonderful thought. Suddenly he understood what  Christmas was
all about, why Christ had come.    Years  of doubt and disbelief
vanished like the passing storm. He fell to his knees in the snow, and  prayed his first  prayer: "Thank You, God, for coming in human form to  get me out of the storm!"

---Author unknown


----- Forwarded by Jeff Dasovich/NA/Enron on 11/15/2000 08:59 AM -----

	"Daniel Douglass" <Douglass@ArterHadden.com>
	11/14/2000 06:29 PM

		 To: <Barbara_Klemstine@apsc.com>, <Bob_Anderson@apses.com>,
<dcazalet@apx.com>, <billr@calpine.com>, <jackp@calpine.com>,
<glwaas@calpx.com>, <Ken_Czarnecki@calpx.com>, <cabaker@duke-energy.com>,
<gavaughn@duke-energy.com>, <rjhickok@duke-energy.com>, <gtbl@dynegy.com>,
<KEWH@dynegy.com>, <jdasovic@enron.com>, <susan_j_mara@enron.com>,
<curt.Hatton@gen.pge.com>, <foothill@lmi.net>, <camiessn@newwestenergy.com>,
<jcgardin@newwestenergy.com>, <rsnichol@newwestenergy.com>,
<rllamkin@seiworldwide.com>, <cfi1@tca-us.com>, <roger.pelote@williams.com>
		 cc:
		 Subject: SCE Files Suit

Attached is a brief summary of a lawsuit which was filed in U.S. District
Court by Edison yesterday:

So Cal Edison v. Loretta Lynch, Henry Duque, Josiah Neeper, Richard Bilas,
Carl Wood, as commissioners for CA PUC

11/13

CV00-12056 RSWL

Complaint for declaratory relief, saying SCE,s costs for purchase of
electricity have skyrocketed while the rate at which it sells electricity to
consumers is frozen by state law, resulting in a loss of $1.2 billion.

I will obtain a copy of the complaint and let you know the specifics.

Dan


Start Date: 4/15/01; HourAhead hour: 4;  No ancillary schedules awarded.
Variances detected.
Variances detected in Generation schedule.
Variances detected in SC Trades schedule.
Variances detected in Load schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001041504.txt

---- Generation Schedule ----
$$$ Variance found in table tblGEN_SCHEDULE.
     Details: (Hour: 4 / Preferred:   3.80 / Final:   3.36)
  TRANS_TYPE: FINAL
  SC_ID: SierraPowe
  MKT_TYPE: 2
  TRANS_DATE: 4/15/01
  UNIT_ID: VESTAL_6_WDFIRE

---- SC Trades Schedule ----
$$$ Variance found in table tblInt_Interchange.
     Details: (Hour: 4 / Preferred: -65.00 / Final: -45.00)
  TRANS_TYPE: FINAL
  SC_ID: EPMI
  MKT_TYPE: 2
  TRANS_DATE: 4/15/01
  TRADING_SC: CRLP
  PNT_OF_INTRC: SP15
  SCHED_TYPE: ENGY
  PURCH_SALE: 1
  DEAL_NO: 1
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: EPMI
  MKT_TYPE: 2
  TRANS_DATE: 4/15/01
  TRADING_SC: SETC
  PNT_OF_INTRC: NP15
  SCHED_TYPE: ENGY
  PURCH_SALE: 1
  DEAL_NO: 1
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: EPMI
  MKT_TYPE: 2
  TRANS_DATE: 4/15/01
  TRADING_SC: PGAE
  PNT_OF_INTRC: NP15
  SCHED_TYPE: ENGY
  PURCH_SALE: 2
  DEAL_NO: 1
$$$ Variance found in table tblInt_Interchange.
     Details: (Hour: 4 / Preferred:  70.00 / Final:  50.03)
  TRANS_TYPE: FINAL
  SC_ID: EPMI
  MKT_TYPE: 2
  TRANS_DATE: 4/15/01
  TRADING_SC: PWRX
  PNT_OF_INTRC: NP15
  SCHED_TYPE: ENGY
  PURCH_SALE: 2
  DEAL_NO: 1

---- Load Schedule ----
$$$ Variance found in table tblLoads.
     Details: (Hour: 4 / Preferred:  28.41 / Final:  28.40)
  TRANS_TYPE: FINAL
  LOAD_ID: PGE3
  MKT_TYPE: 2
  TRANS_DATE: 4/15/01
  SC_ID: EPMI


Business/Financial Desk; Section C
Flaws Cited in California Electricity Market
?
10/07/2000
The New York Times
Page 4, Column 1
c. 2000 New York Times Company
PASADENA, Calif., Oct. 6 -- California's electricity market is not ''workably
competitive'' and needs to be fixed, the California Power Exchange said in a
draft report.
Wholesale power prices from May to July more than quadrupled from a year
earlier as demand strained supplies during weather that was hotter than
normal. Some generators appeared to hold back power at times of peak
consumption, waiting until prices surged.
This happened because of ''structural flaws in the design of the California
electricity markets,'' the report said. ''These design flaws need to be
addressed,'' it said. A final report is expected next week.
The exchange recommended easing restrictions on building power plants and
penalizing companies for waiting until the last minute to deliver power. It
did not cite a specific power-plant owner, marketer or utility as responsible
for the problem.
The nonprofit power exchange was created by the state legislature in 1996 to
operate a marketplace where utilities and other big buyers and sellers could
get electricity.
The PG&E Corporation's Pacific Gas and Electric, Edison International's
Southern California Edison and Sempra Energy's San Diego Gas and Electric buy
all their power through the exchange.
Pacific Gas and Electric and Southern California Edison have said they face
billions of dollars of losses because rates they can charge customers are
frozen far below the rates they had to pay for power on the exchange this
summer.


don't know.  think a little bit of everyone as the storage guys own it all.

slafontaine@globalp.com on 12/05/2000 09:37:01 AM
To: jarnold@enron.com
cc:
Subject: mar/apr

im so sick for getting out of that-john who 's getting squeezed on the mar?
hope
its not you. pretty sure it isnt so safe to ask you?


---------------------- Forwarded by Judy Hernandez/HOU/ECT on 07/27/2000
11:28 AM ---------------------------

Angela Barnett
07/26/2000 05:37 PM
To: Regina Blackshear/Corp/Enron@ENRON, Angela Gill/NA/Enron@Enron, Derick
Jones/Corp/Enron@Enron, Warren Perry/Corp/Enron@Enron, Judy
Hernandez/HOU/ECT@ECT, Leslie Smith/HOU/ECT@ECT, Judy Walters/HOU/ECT@ECT,
lsharis@msn.com
cc:
Subject: A Visitor's Guide to Houston, TX

---------------------- Forwarded by Angela Barnett/HOU/ECT on 07/26/2000
05:36 PM ---------------------------

Mary Westbrook <kittenkid_65@yahoo.com> on 07/26/2000 04:36:40 PM
To: Mabel Abrasley <mabel@abrasley.com>
cc:
Subject: A Visitor's Guide to Houston, TX

A VISITORS' GUIDE TO HOUSTON, TX

(To enable our many visitors to cope with life in
America's Fourth
Largest
City)

1. First you must learn to pronounce the city name. It
is YEWS-TUN and
it
does not matter how people pronounce it in other
places.

2. Forget the traffic rules you learned elsewhere.
Houston has its own
version of traffic rules. Never forget that downtown
Houston is
composed
entirely of one way streets. The only way to get out
of center of town
is to
turn around and start over when you reach Dallas,
Texas.

3. All directions start with, "Go down Westheimer..."

4. Westheimer has no beginning and no end.

5. It's impossible to go around a block and wind up on
the street you
started on. The Chamber of Commerce calls this a
"scenic drive".

6. The 8am rush hour is from 6:30 to 9:30am. The
5:00pm rush hour is
from
3:30 to 6:30pm. Friday's rush hour starts on Thursday
morning.

7. If you actually stop at a yellow light, you cannot
be from Houston.

8. Reversible Lanes are not understood by anybody.

9. Kuykendahl Road can only be pronounced by a native,
so do not
attempt the
phonetic pronunciation. People will simply tilt their
heads to the
right and
stare at you.

10. The falling of one raindrop or (God forbid) one
snowflake causes
all
traffic to immediately cease; so will daylight savings
time and a girl
applying eye shadow across the street, or a flat tire
three lanes over.

11. Construction on the Gulf Freeway is a way of life,
and a permanent
form
of entertainment.

12. Many bizarre sights can be explained simply by
uttering the
phrase,"Oh, we're in Montrose!!"

13. Construction crews aren't doing their job properly
unless they
close
down all lanes except one during rush hour.

14. If someone actually has their turn signal on, it
was probably left
on at
the factory where the car was made.

15. Understand that the 95 pound woman driving the
Ford Excursion (the
largest vehicle ever produced) absolutely MUST come to
a complete stop,
then
proceed at 2.5 mph over any railroad track. What's the
deal? This
vehicle
was built to invade small countries, and she's worried
about the
railroad
tracks!!!

16. All ladies with blue hair who drive Cadillacs or
Lincoln
Continentals have the right of way.

17. The above mentioned blue haired ladies also have a
legal right to
turn
right from a left lane or to turn left from a right
lane. YOU HAVE BEEN
WARNED!

18. White haired men driving red or silver sports cars
will not
obey any known traffic rule and cannot be expected to
stop for red
lights or
stop signs.

19. Buying a Houston street map is a waste of money
since there is
absolutely no way that you can route yourself in such
a manner as to
avoid
major road construction.

20. Buying a Houston street map is a waste of money
since the
termination or continuation of any street is entirely
at the discretion
of
the Streets Department of the City. It has been
determined that the
length
of any street on any given day is a mystery known only
to "Higher
Powers" in
the department, and it is rumored that they do not
speak to mere
mortals.

21. Asking directions will help you get acquainted
with the numerous
recent
residents of an amazing ethnic diversity. It will be
not help at all
for
finding the address you seek.

22. If searching for a street on the southwest side of
Houston, a
knowledge of Chinese, Korean, or Vietnamese is
somewhere between
helpful and
mandatory, since the street signs are printed in one
of these languages
along with English. However, often the English name
for the street has
been
removed.

23. Houston natives are so rare that they are listed
on the endangered
species list. The few remaining specimens are kept in
a controlled
environment for their own safety.

24 . "Sir" and "Ma'am" are used by the person speaking
to you if
there's a
remote possibility that you're at least 30 minutes
older than they are.
You
can safely address anyone as "Sir" or "Ma'am" in
Houston as in other
southern cities.

25 . "Sugar" is a more common form of address than
"Miss". So is
"Honey" Do
not take offence. This is how southerners address
grown women.

26 . In Houston we drink Coca Cola and Dr. Pepper. It
is rumored that
other
soft drinks are sold here, but no one will admit to
knowing anyone who
actually drinks them. So don't ask for any other soft
drink.

27 . What you need to know when arriving at Bush
Intercontinental
Airport:
Your arrival gate is at least 32 miles away from the
Main Concourse of
any
terminal. Walking heels on your boots or walking shoes
are advised.

28 . Wherever you are going will be on the other side
of town. When
attempting to cross Houston, assume the trip will take
a minimum of 4
hours
and can take as long as 24 hours.

29 . If attempting to cross Houston via the freeway
system, it is
advisable to carry a supply of Coca Cola, water, a few
sandwiches, and
something to read while waiting on the freeway for the
traffic jam to
clear.
Some moderately fast readers have been known to read a
1,000 page novel
during the course of one traffic jam. If attempting to
cross Houston
during
rush hour,
additional provisions are advisable.

30 . Never get on a Houston freeway without taking a
restroom break
first!
It may be a long time to the next break.

31 . Never honk your horn at another car in Houston
traffic. The
bumpersticker that reads, "Keep honking, I'm
reloading" is considered
fair
warning.

__________________________________________________
Do You Yahoo!?
Get Yahoo! Mail - Free email you can access from anywhere!
http://mail.yahoo.com/


FYI

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 02/12/2001
02:20 PM ---------------------------

"Julie" <julie@lacimagroup.com> on 02/09/2001 05:31:11 AM
Please respond to "Julie" <julie@lacimagroup.com>
To: <Undisclosed-Recipient:@mailman.enron.com;>
cc:
Subject: Venue Details for Energy Derivatives and Weather Derivatives Course
and Workshops

The venue details for the courses are the following:
?
City:? Houston
Hotel:? Hyatt Regency Houston
Address:? located in the Center of Downtown Houston
1200 Louisiana
Houston, TX? 77002 USA
?
Telephone:? +1 713 654 1234
Fax:? +1 713 951 0934
?
We have?been offered a room rate of US$199 a night.? Your company  may be
able to obtain a better quote, by contacting them  directly.??However, at
reservations, they may not have the course name  and information logged into
their system yet because this is being handled  directly by their catering
manager.? If you would like us to make your  hotel reservations, we would
need your arrival date and departure date.?
?
The?itinerary for each day of the course is as follows:
?
9:00??? Start
10:30 ?Coffee break
12:30? Lunch
15:30? Coffee break
17:30? Approximate finish
?
Course format will consist of segments of lecture followed by computer  based
workshops (two a day).? If you need anything further, please contact  us.
?
Sincerely,
Julie
?


---------------------- Forwarded by Jeff King/Corp/Enron on 05/16/2001 09:32
AM ---------------------------

Craig Carmichael <cgcarmic@uswest.net> on 05/15/2001 04:38:41 PM
To: robert.benson@enron.com, jeff.king@enron.com, kyle.schultz@enron.com,
doug.gilbert-smith@enron.com, matt.lorenz@enron.com,
paul.j.broderick@enron.com, tom.may@enron.com, mike.carson@enron.com
cc:

Subject: Load Forecasting Technology

To whom it may concern:

My name is Craig Carmichael.  I am a PhD student at Iowa State
University, working under Dr. Bartlett in the Adaptive Computing Lab.
Please lend me your attention for a brief moment.  Enron's team of power
traders is the first contact I have made in this nature.

I strongly believe that I have developed technology that can make Enron
millions in the very near-term future.  If you are a power trader whose
success is proportional to the accuracy of your load forecasts, then I
believe I can deliver an enormous opportunity to Enron and you.  If I am
way off base on my assessment, please let me know and I will go
somewhere else.  I CHALLENGE EACH OF YOU TO DISCREDIT MY BELIEFS.

Here are some of my credentials, so that you can verify that it might be
promising to read the remainder of this email.

   1.  Finishing up ISU PhD work this summer.
   2.  Invented multiple neural network methods and inductive learning
techniques.
   2.  Recently DEVELOPED THE MOST ACCURATE electric load models in the
Chicago area for ComEd.
   3.  Saved ComEd millions of $ over the last couple years because of
this.
   4.  Can verify the above claims and that I did this single-handedly.
   5.  Wrote the new inductive learning algorithm for New Energy
Associates in Atlanta.
   6.  My software will be the new learning engine of NEA's NOSTRADAMUS
future v5.0
   7.  Can verify that I single-handedly wrote NOSTRADAMUS's new training
engine (not yet released)
   8.  Am the world's best electric load forecaster using advanced
inductive learning methods.

This is the situation:

   I am giving my Final Defense on July 16th in areas of advanced
forecasting methods.  In 1999, I developed highly advanced neural
network models for Commonwealth Edison, under Robert Abboud (working at
ComEd) through the Adaptive Computing Lab at Iowa State University.  The
models were the most accurate available.  At the time, ComEd was using
the EPRI models, NEA's Nostradamus, Tesla, and the ISU models (those
that I developed).  Still, I knew of many ways for improvement and have
been waiting for my graduation to release this technology.  Preliminary
studies show that my most recent work is more accurate than anything
that is available at any price.

   Since I have felt oppressed by the system (being a student), I have
awaited graduation (am finished mid-July) to unleash the technology that
I have developed outside of the university (my funding comes from the
Meteorology department and has nothing to do with load forecasting).
This is unpublished, provocative, state-of-the-art stuff that can smoke
even the multi-million dollar EPRI models, and only I know how they
work.  The technology could also put Tesla out of business.  The errors
appear to be LESS THAN HALF OF THOSE OF NOSTRADAMUS.

John Snead from Tesla knows me and feared my models so much that he
tried to merge his company with RGA Labs.  Robert Abboud from ComEd,
Excelon (and now RGA Labs) knows who I am.  Rick Hunt, the project
manager from New Energy Associates does also, since I wrote the software
for their yet-to-be-released inductive learning engine.

Ok.  Here are the possibilities.

   1.  I am making all of this up and did't really invent leading
forecasting technology
   2.  I am a nut who doesn't even know what he's talking about
   3.  This guy couldn't possibly do this sort of thing on his own clock
all by himself
   4.  Maybe there's something to what this guy is saying.  We might as
well send him a data set to test his claims.

I feel that someone will continue to try to take advantage of me if I
don't act now.  Within the next 6 months, someone will probably own my
technology besides myself.  I want to prove that I can be an immense
asset to Enron.  I would like to sell my technology to Enron as part of
your in-house modeling efforts.

Someone else might come along and try to make the same claims that I am
making.  They might razzle-dazzle you with their marketing sense and
ability to sell you their gem.

What I am saying is that if you give me a chance to show you what I can
do, if you care about accuracy and not razzle-dazzle, then I will not
disappoint you.  Give a data set to me and a thousand other people and
companies.  Let me show you that I'm not making all of this up.  I will
show you flaws in other "gems".

I hope this email wasn't too long.  My family & I, as of now, have a
fairly uncertain financial future (until I enter the workforce and have
a fairly cushy job).  Because of this, I am obligated to see what
opportunities exist with my intellectual property.  If I fail in
convincing Enron that I have a gold mine in my possession, then I will
go to the #2 spot on my list, and will offer to provide them with the
leading forecasting package available today.  In some way, shape or
form, in this scenario my software will then compete with Enron.

Thank you for lending me your ear.  I hope you don't think I'm a lunatic
for sending you this lengthy email.

Craig Carmichael
cgcarmic@uswest.net


The ICE is currently experiencing technical difficulties.  The system is being recycled and should be available by 10:15 EST.  All pending orders are being removed from the system.


Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com
----- Forwarded by Sara Shackleton/HOU/ECT on 04/25/2001 01:56 PM -----

	Laurel Adams
	04/17/2001 05:22 PM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: changes needed for currency trade confirmation

Sara,

Are we able to do FX deals with the company shown below?  Also, would this be
an RMT confirm or an ENA confirm?
---------------------- Forwarded by Laurel Adams/HOU/ECT on 04/17/2001 05:20
PM ---------------------------
From: Ana Rizvi on 04/17/2001 04:59 PM
To: Clara Carrington/HOU/ECT
cc: Laurel Adams/HOU/ECT@ECT
Subject: changes needed for currency trade confirmation

see below...

ana

---------------------- Forwarded by Ana Rizvi/HOU/ECT on 04/17/2001 03:14 PM
---------------------------
From: Bob Crane/ENRON@enronXgate on 04/17/2001 04:51 PM
To: Ana Rizvi/HOU/ECT@ECT, William Stuart/HOU/ECT@ECT
cc:
Subject: changes needed for currency trade confirmation

Ana,

The information on the confirm executed (deal no. m439607) between EGM and
EIM needs a couple of changes.  Please make the counterparty:

 Compagnie de papiers Stadacona
 Bay Wellington Tower - BCE Place
 181 Bay Street, Suite 1540, P.O. Box 822
 Toronto, Ontario, Canada
 M5J 2T3

And the bank accounts should be

Account Name    Currency  Notes
2013883015	EIM Holdings, (Canada) Inc.	US$		Primary concentration & funding account
	Co# 1469			Receives US$ deposits from BoA collections
				US$ collection
				Funds FX settlement for Can$
				Funding source for BNS US$ accounts

2013883007	EIM Holdings, (Canada) Co.	Can $		Can$ deposit account
	Co# 1469			Deposit Acct for FX purchases of Can$
				Primary funding account for operations

Thank you

Bob Crane


Just wanted to say, "thanks gals" for dinner last night.  To be honest with you I had had a pretty bad day and the rest of the week hadn't been much better, but I had a really good time last night....I forget sometimes how nice it is to share so many great memories with old friends.  Not to get too sappy, but I really treasure our friendships and I'm not sure you all realize how much i depend on you guys.  I know it's rarely overt, but I've leaned on the stability and solidness of our friendships on countless occasions and just don't know what I'd do without that safety net to trust in when things are rough.

Sue