Enron to Sell Portland General to Northwest Natural (Update9)
Bloomberg, 10/08/01

Northwest Natural Gas to buy Portland General for $1.8 billion
Associated Press Newswires, 10/08/01
UK Pwr Mkt: Spot Dn On High Interconnector Flow
Dow Jones News Service, 10/08/01
USA: NW Natural sees "double digit" earnings growth.
Reuters English News Service, 10/08/01
NW Natural Gas's Portland General Buy Has No Breakup Fee
Dow Jones News Service, 10/08/01

Northwest Natural's CEO on Portland General Purchase: Comment
Bloomberg, 10/08/01

Enron to Sell Portland General to Northwest Natural (Update9)
2001-10-08 16:21 (New York)

Enron to Sell Portland General to Northwest Natural (Update9)

     (Adds closing share prices in fifth paragraph.)

     Houston, Oct. 8 (Bloomberg) -- Enron Corp. agreed to sell
Portland General Electric to Northwest Natural Gas Co. for
$2.9 billion in cash, stock and assumed debt, ending a more than
two-year effort to shed its Oregon utility.

    Enron, the largest energy trader, no longer needs Portland
General to sell electricity in the West and wants to spend on more
promising businesses, Chief Executive Ken Lay said in a statement.
Enron bought the utility for $3.21 billion in 1997 to gain
knowledge on selling power to neighboring California.

     ``Portland General is a 5 percent bottom-line growth rate
company,'' said Anatol Feygin, a J.P. Morgan analyst who rates
Enron ``buy.'' ``On wholesale and retail energy operations, Enron
has had 35 percent growth in earnings before interest and taxes,
and bottom-line growth of just under 20 percent.''

     Shares of Enron rose $1.72, or 5.4 percent, to $33.45.
Northwest fell 42 cents to $22.99.

     Enron will get less than it hoped from the sale, though
spokeswoman Karen Denne said the Houston-based company expects to
break even.

     A November 1999 agreement to sell the utility to Sierra
Pacific Resources of Nevada for $3.1 billion fell through in April
of this year because California banned sales of power plants
serving the state.

     Regulators had required Sierra Pacific to sell a stake in a
plant that sells power to California as a condition of its
purchase of Portland General.

                         Oregon Regulators

     Both Northwest and Portland General are based in Portland,
Oregon, which should make it easier for Enron to win clearance of
the sale. Oregon regulators can be expected to approve the
purchase in as little as nine months, Northwest Chief Executive
Richard Reiten said.

     ``No other combination of companies could achieve as much
political, regulatory, and general support of the citizens,''
Reiten said. ``We operate in essentially the same geographic
area.''

     Northwest, a gas utility, will pay $1.55 billion in cash,
$200 million in preferred stock and $50 million in common stock,
Enron said. Northwest will assume $1.1 billion in debt and give
$75 million in customer discounts previously agreed upon by Enron.

    Northwest has 525,000 natural-gas customers in Oregon and
Washington. Portland General has 730,000 customers in Oregon.

    Over the past 10 years, Lay has transformed Enron from a gas
pipeline operator into a company that gets most of its profit
growth from commodities trading.

     Enron no longer wants to own expensive assets such as power
plants that are under the control of regulators, who limit
profitability and often make the assets difficult to sell,
analysts say.

     ``This is a sign Ken Lay is tightening up the ship,'' said
Mark Baskir, manager of the $15 million Strong Energy Fund, which
holds 2,400 Enron shares. ``I feel better about the stock now.''

                           Retail Sales

     Enron's road to becoming a top energy trader in California
has been bumpy. It delayed attempts to sell electricity to
California residential customers in 1999, saying the state's
deregulation law made it impossible to profit from small power
sales. It transferred its retail electricity sales business in all
states to NewPower Holdings Inc., a separately traded company
formed by Enron in October 2000.

     When power prices in western state's soared late last year
and early this year, some utilities stopped paying for wholesale
power. Enron has estimated it's owed as much as $500 million for
energy sales in California.

     California's two largest utilities, PG&E Corp.'s Pacific Gas
& Electric and Edison International's Southern California Edison,
are insolvent after racking up billions in debt buying power at
prices far exceeding what state officials would allow them to pass
to customers.

                         California Battle

     California officials have accused Enron and other power
traders of manipulating the state's market. Enron also has
struggled with Oregon regulators.

     It was forced to cut power prices to Portland General's
customers by $141 million over eight years, more than double what
the company had anticipated when it bought the utility. Oregon
also rejected Enron's plans to sell its utility's 14 generating
plants.

    Enron will keep its stake in Northwest for at least 30 months,
the company said in a statement. It will have voting rights
limited to 4.9 percent of Northwest's common stock and will have
representation on Northwest's board.

    Northwest said the sale is expected to close this quarter and
add to earnings next year. Northwest expects to maintain its
annual dividend of $1.25 a share through this year.

    Job cuts are planned, Northwest said, without saying how many
positions would be eliminated. Northwest said it won't renegotiate
union contracts.

    Merrill Lynch and Credit Suisse First Boston will arrange
loans to finance the cash portion of the purchase, Northwest said.
Credit Suisse advised Enron on the sale.

     Enron last week agreed to sell oil and gas fields in India to
the U.K.'s BG Group Plc for $388 million. In May, the company
withdrew from a gas-pipeline project in Qatar.

Northwest Natural Gas to buy Portland General for $1.8 billion
By WILLIAM McCALL
AP Business Writer

10/08/2001
Associated Press Newswires
Copyright 2001. The Associated Press. All Rights Reserved.

PORTLAND, Ore. (AP) - Northwest Natural Gas said Monday it will buy Portland General Electric for $1.8 billion in a deal that will combine the largest natural gas and electric utilities in Oregon.
The purchase comes about four years after Enron Corp., one of the largest energy companies in the nation, paid $3.2 billion for Portland General Electric in a bid to expand into the Pacific Northwest and California.
But the slow pace of deregulation in Oregon and the California energy crisis prompted Houston-based Enron to start shopping for another buyer shortly after the takeover.
Northwest Natural Gas said it expects to close the purchase late next year, pending approval by regulators and its shareholders.
Enron will receive $1.55 billion cash and $350 million in securities.
The deal will create a Portland-based holding company with $5 billion in assets and more than 1.25 million customers. The new company would own more than 2,000 megawatts of generation, 26,000 miles of electric transmission and distribution lines and 12,000 miles of gas mains.
Northwest Natural Gas Chairman Richard G. Reiten said the deal would "help ensure that assets critical to Oregon's economy and environment will be locally-owned."
There will be an undetermined number of job cuts, he said, although all union contracts will be honored.
The deal brought immediate criticism from one of the state's leading consumer watchdog groups.
Bob Jenks, executive director of the Citizens Utility Board, said he was concerned about the heavy debt Northwest Natural Gas will carry under the deal and the gas company's recent efforts to lobby the Legislature to bypass regulators.
"They've tried to politicize rate proceedings," Jenks said. "If that's going to happen, and PGE rate cases are fought out in the Legislature and the governor's office, then I don't think that's going to be in the interest of PGE customers."
Analysts said the deal makes sense because the two utilities can cut a lot of costs in their overlapping service areas.
But Dan Fidell of A.G. Edwards & Sons said analysts and investors also are wary of the heavy debt load on NW Natural.
"Their balance sheet is going to suffer, at least in the near term," Fidell said. "They're probably looking at downgrades in their credit rating."
Enron earlier attempt to sell Portland General Eelctric fell through last March. It has seen stock prices fall in recent months as it moved into investments outside its core business, including an Internet company that took a beating in the stock market. But in morning trading Monday, Enron shares rose 77 cents to $32.50, which analysts said was partly due to heavier investment in strategic energy companies following news about the U.S. attack on terrorist outposts in Afghanistan.
---
On the Net:
Enron: http://enron.com
Northwest Natural Gas: http://northwestnatural.com
Portland General Electric: http://www.portlandgeneral.com

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

UK Pwr Mkt: Spot Dn On High Interconnector Flow

10/08/2001
Dow Jones News Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

LONDON -(Dow Jones)- U.K. spot electricity prices Monday were down on a high volume of power from the intercontinental interconnector despite cooler weather,
while trade in forward contracts was too thin to site a trend, traders said.
Helping prices fall was the ready availability of cheap power through the in terconnector. All available capacity on the interconnector was used on Monday, c ompared with only half on Friday.
Also influencing prices was that, like last week, Enron started the day shor t, and then tried to push prices down before buying in large volumes, traders sa id.
"Basically it looks like Enron have gone into the winter short, thinking tha t pre-NETA jitters would make everyone else go long, and so far it looks like th ey're winning that bet," said a trader.
No one at Enron was immediately available for comment.
Day-ahead base load traded at GBP17-GBP17.35/MWh, down from Friday's trading
for Monday base load at GBP17.30-GBP17.70/MWh.
Day-ahead peaks traded at GBP18.50-GBP19.50/MWh.
Day-ahead extended peaks traded at GBP19.30-GBP19.50/MWh.
Weekend base load traded at GBP16.30/MWh, down from Friday's prices for last
weekend at GBP17/MWh.
Week 42 traded at GBP17.50-GBP17.55/MWh, down from Friday's prices at GBP17. 70-GBP17.75/MWh.
Enron's visible buying in the spot market is all the more striking given tha t its own 2000MW facility at Teesside is runing at just over half its maximum ou tput.
This likely reflects the high price of natural gas relative to electricity, a trader reckoned.
Plant has been in flux recently with a 400MW unit at Seabank II struggling t o maintain consistent output, while British Energy's 581MW unit at Heysham 1 cam e back online on Friday, and was generating 500MW by Monday afternoon. Both 535M W units at Dungeness B remain offline, while traders expect at least one to come
back online soon.
Forward market prices were down beginning with November, but not trading in volumes large enough to identify a trend.
On the U.K. Power Exchange, within-day prices peaked during settlement perio d 39 at GBP36.95/MWh. Lowest prices were for settlement periods 7-11 at GBP1/MWh . Volume was 12,412MWh in 24,824 contracts. On the Automated Power Exchange, the
average weighted day-ahead price was GBP18.63/MWh, up from Friday's price of GB P16.01/MWh.
The Meteorological Office expects Tuesday's temperatures to be 2 degrees Cel sius warmer in the southeast and Yorkshire and Lincolnshire. Countrywide, temper atures are forecast to in line with historical norms.
The Balancing Mechanism Reporting System said demand will peak Tuesday at 38 ,094 MW, with off-peak demand hitting a low of 25,908 MW. Demand peaked Monday a t 39,094 MW.
The following forward contracts traded Monday. Figures are in GBP/MWh: Contract Monday Friday
Nov 2001 base 19.33-41 19.50
Jan base 21.50-21.66 ---
Apr base 17.88-18.00 ---
Winter 2002 base 20.10 ---
Summer 2002 base 17.44 17.50
Summer 2003 base 17.58-17.59 17.60
Q1 2001 19.85-19.92 ---
Winter 2003 20.38 ---
-By Sarah Spikes, Dow Jones Newswires; +44-(0)20-7842-9345;
sarah.spikes@dowj ones.com
-0- 08/10/01 17-52G

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

USA: NW Natural sees "double digit" earnings growth.

10/08/2001
Reuters English News Service
(C) Reuters Limited 2001.

NEW YORK, Oct 8 (Reuters) - Northwest Natural Gas Co. said on Monday that the acquisition of Portland General Electric from Enron Corp would enhance its earnings by "double digits" from the first year.
Earlier on Monday Northwest said it was paying $1.8 billion for the firm and the deal was expected to completed by last quarter of next year.
Speaking to financial analysts on a conference call after announcing the deal, executives said the deal had all necessary financing and a new holding company which will be created to accommodate the assets will have debts of up to 80 percent of its capital structure.
Northwest said it expects the new holding company to receive an investment-grade credit rating after three years.

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

NW Natural Gas's Portland General Buy Has No Breakup Fee
By Christina Cheddar

10/08/2001
Dow Jones News Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

Of DOW JONES NEWSWIRES
NEW YORK -(Dow Jones)- Northwest Natural Gas Co.'s (NWN)
planned acquisition of Enron Corp.'s (ENE) Portland General Electric
Co. unit doesn't contain a provision for a breakup fee, Northwest
officials said Monday during a conference call.

Earlier, Northwest Natural, of Portland, Ore., and Enron, of Houston, announced the companies agreed to the terms of the sale. The transaction was anticipated since Friday when the companies confirmed a Wall Street Journal that the two were talking.
Under the terms of the planned sale, Northwest will acquire the Enron unit for $1.55 billion in cash and $250 million in seller-financing securities. Northwest also agreed to cancel a $75 million payment obligation from Enron to Portland General that was related to Enron's purchase of Portland General in 1996.
Northwest also is assuming $1.1 billion in existing Portland General debt and preferred stock.
During the conference call, Northwest officials said they expect the acquisition to close in the fourth quarter of 2002, following approval of Northwest's shareholders and regulatory agencies, including the Federal Energy Regulatory Commission.
The company has already secured the necessary financing, officials said.
Northwest shares recently traded at $23.10, down 31 cents, or 1.3. On Friday, the stock closed down 9.9% to $23.41 in anticipation of the acquisition.
Enron shares, meanwhile, have gained $1.41, or 4.4%, to $33.14.
Enron had previously agreed to sell Portland General to Sierra Pacific Resources (SRP) for $3.1 billion, but the deal was called off six months ago, in part because of complications stemming from the California power crisis.
Enron's decision to sell Portland, an electric utility with $5 billion in assets and $3.9 billion in enterprise value, is an example of Enron's strategy to sell its physical assets and focus on its energy trading activities.

Northwest Natural Gas Chairman and Chief Executive Richard Reiten said the acquisition of Portland General will have "solid accretion" under old accounting rules, and "double-digit accretion" under the new accounting rules pertaining to the treatment of goodwill. Under the former accounting rules, goodwill was amortized to expense.
Reiten didn't provide any specific estimates for the earnings of the combined companies.
In an interview, Reiten said the ability of the transaction to increase the combined company's earnings potential will be helped by a number of factors including the companies' overlapping service areas and combined customer bases.
Reiten expects to consolidate customer billing, call centers and meter reading.
Prior attempts by Northwest and Portland General to initiate joint meter reading for about 350,000 customers already have yielded about $1 million in cost savings, Reiten said.
Also, the acquisition gives Northwest the ability for non-speculative trading around the combined company's natural gas and electric assets, he added.
"The opportunities are exceptional for a utility in the Northwest. That's why we are so confident about the ability of this transaction to add to the bottom line," said Reiten, who served between 1989 and 1996 as the company's president and chief operating officer and as a member of its board.
The combination will result in staff reductions, but Reiten said he couldn't quantify how many. He said some of the reductions would occur through early retirement incentives and though attrition.
-Christina Cheddar, Dow Jones Newswires; 201-938-5166; christina.cheddar@dowjones.com

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

Northwest Natural's CEO on Portland General Purchase: Comment
2001-10-08 13:36 (New York)

     Portland, Oregon, Oct. 8 (Bloomberg) -- Richard Reiten, chief
executive of Northwest Natural Gas Co., comments on the company's
agreement to buy Portland General Electric Co. from Enron Corp.
for $2.8 billion in cash, stock and assumed debt.

     The transaction would consolidate the natural gas and
electric utilities in Portland, Oregon. Enron bought Portland
General for $3.1 billion in 1997. A 1999 agreement to sell the
utility to Sierra Pacific Resources of Nevada for $3.1 billion
failed in April because of regulatory delays.

     How Northwest, which has a market capitalization of about
$580 million, will finance the $2.8 billion purchase:

     ``We will issue $150 million of common equity at close. Our
Financial plan calls for another $150 million, three years out, in
2005.'' The company also expects to borrow $1.4 billion, and it
will assume $1.1 billion in Portland General's debt.

     On regulatory approval:

     ``We expect a nine-month to 12-month regulatory approval
period. Our first full year as a combined company would be 2003.
We expect to begin paying down debt that first full year, and we
expect double-digit accretion to earnings the first full year.

     ``No other combination of companies could achieve the
efficiencies these companies can, because we operate in
essentially the same geographic area. No other combination of
companies could achieve as much political, regulatory and general
support of the citizens.''

     On potential cost savings:

     ``We expect significant efficiencies. Common meter reading,
common call centers (customer service). All support services and
administrative functions that are duplicated, we can bring them
together.

     ``We have a wonderful match of the gas utility's interstate
pipeline and gas storage that can be used to enhance the gas-fired
generation facilities of Portland General.

     ``We have a storage field 15 miles from a 550-megawatt
generating plant. We'll be able to trade around those assets, in
non-speculative trading, something that Portland General has
become very good at under its ownership by Enron. Those assets
will enhance trading to bring costs down for the gas-fired
generation and give us more options.''

     On the investment profile of the holding company that will be
formed to own the two utilities:

     ``We see ourselves as a strong, combination utility with a
good, secure dividend, a fair price paid for our assets, and good
growth in earnings. We're confident we'll get regulatory support
for our structure.''


Enron in Action can be accessed through the new Community Relations web site at http://cr.enron.com/eia.html .  In this week's issue you will find out information regarding:

Enron Happenings
BEAR Holiday Fundraiser
2001 Holiday Shopping Card benefiting the American Cancer Society
Enron Kids 2001 Holiday Program
Support the Museum of Natural Science at the Crate & Barrel Opening Night Preview Party
Enron Night with the Houston Aeros
Free Carwashes for Enron Employees
American Heart Association "Heart Walk"

Enron Volunteer Opportunities
Volunteer for the 2001 Nutcracker Market "A World of Holiday Shopping"

Enron Wellness
CPR/First Aid Training
Mammogram Screening
November is Lung Cancer Awareness Month

Involved Employees
Par "Fore" Pets Golf Tournament

In addition, Enron in Action is available through a channel on my.home.enron.com.  To add this channel to your set-up click on the channels link at the top of the screen and under announcements check the Enron in Action box.

If you wish to add an announcement to Enron in Action, please fill out the attached form below and submit it to mailto:eia@enron.com no later than 12 PM Thursday each week.


christopher walken was the guinea


Can you lend whatever assistance you, or Louise can provide, in getting me
assistance from Mike Neves on adding the Contract Database for EnronOnline.
His boss's name is Scott Cleverly.


FYI:  We found out how Jeff got nominated.  Paul Hobby, one of the group's Advisory board members, did it.

Eric

---------------------- Forwarded by Karen Denne/Corp/Enron on 03/21/2001 09:53 PM ---------------------------

Gary Thompson <gary@texasecomm.org> on 03/21/2001 11:47:54 AM
To:	<Karen.Denne@enron.com>
cc:

Subject:	Re: Texas eComm Ten Awards- Question

Karen,

Thanks so much; I will touch base with Greg before Saturday to provide him
with additional details and logistics.

Actually, one of our Advisory Board members at Genesis Park, Paul Hobby,
submitted his name as a nominee.  Obviously, Jeff is one of those leaders
that comes to everyone's mind when you think of the power of eCommerce and
the Internet!

We appreciate your support and will get you copies of photos from the event
as well as press coverage that is received.

Best regards,

Gary

--
Gary L. Thompson
Chairman and President
Texas Electronic Commerce Association

3925 W. Braker Lane, Suite 300
Austin, TX 78759

(512) 305-0430                    garyt@texasecomm.org
(512) 305-0432    Fax             www.texasecomm.org

>


NO TOUCH DAY NOTIFICATION [200101286]

The ISO is anticipating high loads and temperatures across
the ISO Control Area.

The California ISO is declaring a "No Touch Day" for the period
from 08/28/2001 06:00 through 08/28/2001 22:00.

No Touch Day restrictions, as detailed in ISO Operating Procedure
E-509, will be in effect.

Market participants are cautioned to avoid actions, which may
unnecessarily jeopardize generator availability.

This message is from Market Operations at the California ISO.

Notice issued at: 08/27/2001 16:22

---------------------------------- DISCLAIMER -----------------------------------------
The system conditions described in this communication are dynamic and subject to change.
While the ISO has attempted to reflect the most current, accurate information available
in preparing this notice, system conditions may change suddenly with little or no notice.
---------------------------------------------------------------------------------------


Kristin will be working for EBS at the time of this class, reporting to Barry
Pearce.  Please contact Kristin or Barry for the appropriate RC within EBS to
charge for the fee for this class.  If you charged ENA at the time of
enrollment, please reverse that charge.  Thanks.

Ernie
08/03/2000 10:05 AM
Sent by: Kristin Albrecht
To: Sally Beck/HOU/ECT@ECT
cc:
Subject: Class Confirmation - Kristin Albrecht

Kristin Albrecht is enrolled in Derivatives III - Deriv Structuring Profiting
from Unbundling & Embedding

Class Days and Times:
  11/9/2000  08:00:00 AM - 05:00:00 PM
  11/10/2000  08:00:00 AM - 05:00:00 PM
Participant Fee: $1000.00

Thank you for your support in providing quality and cost effective
development opportunites at Enron.
Your Company and RC will be charged $1000.00

If you have any questions, please call the Development Center Team at
713-853-0357.

Thank you.


FYI

This e-mail message may contain legally privileged and/or confidential
information. If you are not the intended recipient(s), or the employee
or agent responsible for delivery of this message to the intended
recipient(s), you are hereby notified that any dissemination,
distribution or copying of this e-mail message is strictly prohibited.
If you have received this message in error, please immediately notify
the sender and delete this e-mail message from your computer.

 <<15A42A00.PDF>>

 - 15A42A00.PDF


Lindy & John,
I understand that marketing had a meeting on this issue today with the Gas Logistics team. Could you please include me & keep me in the loop on this issue since we could have system issues.

Thanks Ramona
 -----Original Message-----
From: 	Donoho, Lindy
Sent:	Tuesday, March 05, 2002 10:49 AM
To:	Lindberg, Lorraine
Cc:	Betancourt, Ramona ; Draemer, Mary
Subject:	RE: Draft - SoCal/Topock Announcement

I think we can get with Ramona and Mary Draemer to discuss.  They may just be able to work it through their contacts at SoCal.  I do think we will want to run the posting past SoCal before we put it out there.

 -----Original Message-----
From: 	Lindberg, Lorraine
Sent:	Tuesday, March 05, 2002 10:10 AM
To:	Donoho, Lindy
Subject:	FW: Draft - SoCal/Topock Announcement

Lindy - Do you know the answers to Ramona's ?s or should we call SoCal to discuss?

 -----Original Message-----
From: 	Donoho, Lindy
Sent:	Monday, March 04, 2002 2:16 PM
To:	Watson, Kimberly; Lindberg, Lorraine; Lohman, TK
Cc:	Betancourt, Ramona
Subject:	FW: Draft - SoCal/Topock Announcement

FYI,
	Looks like we have a few adm things to get in place before we can implement.

 -----Original Message-----
From: 	Betancourt, Ramona
Sent:	Monday, March 04, 2002 2:13 PM
To:	Donoho, Lindy; Kowalke, Terry; Corman, Shelley
Cc:	Schoolcraft, Darrell
Subject:	RE: Draft - SoCal/Topock Announcement

Lindy,

Since Socal will not be confirming during the timely cycle, this gas will be incremental and the supplies may not get scheduled. Also,  I know Socal confirms the Needles point via EDI. Will they also confirm this Socal Topock point via EDI? If they do confirm via EDI, it would be good to have them work with Mary Draemer on a test EDI file. Will they give us a window like they do at Socal needles?

Today in TMS, we do have a Non Grid cycle that runs just prior to the gas day starting at 7:30 am. I know Socal does not confirm  this cycle today for Needles. Also, currently in production today Socal Needles point 10487 is set up as a passive point for confirmation. This Topock point would need to be set up with the same point status role for confirmation if they confirm this point via EDI. Socal will need to complete the Operator Choice request form that is posted on the TW web site.

Thanks Ramona

 -----Original Message-----
From: 	Donoho, Lindy
Sent:	Monday, March 04, 2002 9:22 AM
To:	Kowalke, Terry; Corman, Shelley; Betancourt, Ramona
Subject:	FW: Draft - SoCal/Topock Announcement

I'm asking Ramona a question - it would probably be good if I had her on the address list =)

Also, Terry & Shelley - any comments?  We were discussing this in a meeting Friday afternoon and after I incorporate all of our comments, we're going to run it past SoCal as well.  This change is pursuant to a conversation Steve had with Ladd Lorenz last week.

 -----Original Message-----
From: 	Donoho, Lindy
Sent:	Friday, March 01, 2002 3:16 PM
To:	Watson, Kimberly; Lindberg, Lorraine; Lohman, TK; Lokay, Michelle; McConnell, Mark; Y'barbo, Paul; Kilmer III, Robert; Harris, Steven
Subject:	Draft - SoCal/Topock Announcement

Here's a simple first draft.  I didn't know how much detail we should get into.

Ramona, am I using the correct terminology?  They are not going to confirm in Cycle 1.  They are just going to let us fill-in where El Paso filled-up all the capacity downstream.

 << File: SoCal-TopockScheduling.doc >>

Let me know your comments.

Thanks!


Christie,

I will attend.

Vince

 -----Original Message-----
From: 	Skilling, Jeff
Sent:	Wednesday, August 01, 2001 2:26 PM
To:	Allen, Phillip K.; Bay, Frank; Beck, Sally; Berberian, David; Bergsieker, Rick; Blachman, Jeremy; 'kathleen.blakenship@enron.com'; Butts, Bob; Buy, Rick; Carter, Rebecca; 'richard.cause4y@enron.com'; Colwell, Wes; Cordes, Bill; Cumberland, Shawn; Deffner, Joseph; Delainey, David; Derrick Jr., James; Detmering, Timothy J.; Dimichele, Rich; Dodson, Keith; Donahue, Jeff; 'w.david.curan@enron.com'; Earle, Joseph; Fallon, Jim; Fastow, Andrew; Frevert, Mark; Gahn, Scott; 'kevin.garlandd@enron.com'; Glisan, Ben; Haedicke, Mark E.; Hannon, Kevin; Hayes, Robert; Hermann, Robert; Hickerson, Gary; Horton, Stanley; Humphrey, Gene; Jackson, Charlene; Kaminski, Vince J; Kean, Steven J.; Kishkill, Joe; Kitchen, Louise; Koenig, Mark; Kopper, Michael; Lavorato, John; Leff, Dan; Lindholm, Tod A.; Lowry, Paul; Martin, Amanda; McCarty, Danny; Mcclellan, George; McDonald, Rebecca; Metts, Mark; 'kristina_mourdaunt@enron.net'; Muench, Gayle; Muller, Mark; Murray, Julia; Piper, Greg; Prentice, James; Reck, Daniel; Redmond, Brian; Rice, Ken; Rieker, Paula; Sera, Sherri; Shankman, Jeffrey A.; Shapiro, Richard; Sharp, Vicki; Shelby, Rex; Sherrick, Jeffrey; Stabler, Frank; Stanley, Brian; Stram, Bruce; Taylor, Mitch; Tilney, Elizabeth; Walls Jr., Rob; Wasaff, George; Whaley, David; Whalley, Greg; Yeager, Scott
Cc:	Lay, Kenneth; Patrick, Christie; 'dgarvin@hsb.edu'; 'mroberto@hsb.edu'; 'jbower@hsb.edu'; 'llevesque@hsb.edu'; Hamed, Malak
Subject:	Please Plan to Attend

PLEASE  PLAN  TO  ATTEND

"NEW  BUSINESS  CREATION"

Tuesday, August 8th
11:30-1:30
Board Room
EB50

Presented by
Harvard Business School Professor
David A. Garvin*

Professor Garvin is making this presentation as part of a five-year research partnership between HBS and Enron entitled 'Modern Giants'.  The presentation was recently delivered at the Morgan Stanley European Strategy Seminar, which included over 50 leading European CEOs. It was also presented in May at HBS as an advanced management seminar. Parts of the presentation use Enron as an example.

Rsvp by Aug 6th							*Resume attached
Christie Patrick: 3-6117

Feel free to bring your lunch; drinks will be provided


Works for me.  We are leaving to check in to the hotel, then back.  I had to
cancel manicure/pedicure ( and charged for it)  A hint that a gift
certificate for same would work might be appropriate.

From: Suzanne Adams@ECT on 06/07/2001 02:56 PM
To: kay.mann@enron.com
cc:

Subject: Jacoby

Jacoby's assistant just called and wanted your home address.  Apparently Ben
is going to send you something or someone (manicurist/pedicurist) to your
home.  I told her you liked champagne too if he wanted to get you a beverage
and also that you would be leaving to go celebrate your daughter's birthday a
little later this afternoon.  I didn't want them sending out someone and you
not be there.  I can see you now with the phone in one hand and a manicurist
on the other or better yet, a glass of bubbly!


It doesn't look like you were asked to do anything - just notifying you.
No is the answer though.

Thanks

Louise

 -----Original Message-----
From: 	Shapiro, Richard
Sent:	Monday, October 15, 2001 4:39 PM
To:	Kitchen, Louise
Subject:	FW: New Deals for the week of Oct. 12

Is Brooklyn Navy Yard deal still alive? Do you want us spending any time on this?

 -----Original Message-----
From: 	Gottfredson, Bryan
Sent:	Monday, October 15, 2001 1:07 PM
To:	Shapiro, Richard; Steffes, James D.
Cc:	Ibrahim, Amr; Yoho, Lisa; Montovano, Steve
Subject:	New Deals for the week of Oct. 12

Rick, Jim,

	The following are the two deals that were presented at the RAC meeting last week, and should be communicated to Government Affairs:
1.
Region:  EWS/EA/East Power

Deal Name: Brooklyn Navy Yard

Originator: David Marks

Description: Acquisition of 50% interest in 286 MW CCGT in Brooklyn, NY from Edison Mission Energy.  Edison has outstanding litigation with EPC Contractor and has 	      agreed to indemnify partnership and Enron for costs associated with outcome.

GA Action Item: Inform Steve Montovano about new deal.

2.
Region: EWS/EEL

Deal Name: BOC

Originator: David Guy

Description: Sale of ETOL's oxygen business to BOC for approx $30 million; 15 year power supply agreement requiring $5m capex by ETOL.

GA Action Item: Inform Lisa Yoho

Thanks,
Bryan

713-345-2430


Just a head's up.  Dave finally got the amendment to the ETA signed, so I am
fedexing it out to the counterparty today.


-----Original Message-----
From: 	Shively, Hunter S.
Sent:	Monday, May 07, 2001 9:45 AM
To:	Arteaga, Airam
Subject:	WSJ.com - Texas May Face a Glut of Electricity, But It Won't Help in the Rest o

Rain please forward to group


Start Date: 2/5/02; HourAhead hour: 3;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002020503.txt
!!!General SQL error.
Couldn't update; currently locked by user 'admin' on machine 'ECTHOU-BPS3'.
Table

---- Energy Import/Export Schedule ----
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: ECTstNW
  MKT_TYPE: 2
  TRANS_DATE: 2/5/02
  TIE_POINT: MALIN_5_RNDMTN
  INTERCHG_ID: ENRJ_CISO_3000
  ENGY_TYPE: FIRM


[IMAGE]

[IMAGE]	 [IMAGE]  October 19, 2001 [IMAGE] 	[IMAGE]	[IMAGE]
	  Kim, our Deluxe Motorola TalkAbout, Two-Way Radios valued at $100.00 are currently being held awaiting details for shipment to you, absolutely FREE.   Click here  now and verify your address (we want to make sure your Deluxe Motorola TalkAbout, Two-Way Radios are delivered to you) and to make arrangements for you to receive your two-way radios at no charge.   Your Approval Status* entitles you to receive your Deluxe Motorola TalkAbout, Two-Way Radios valued at $100.00 and save on your long distance bill by signing up with Sprint 7? Anytime SM Online Plan. As an added bonus, your monthly fee of $5.95  can be either reduced or waived completely. Click here  to learn how.  Respond before October 29, 2001 or you may waive your eligibility to receive your Deluxe Motorola TalkAbout, Two-Way Radios! These arrangements  may not be available after the above date.   Keep this document in a safe place. This could be the only notification you may receive, click here now !            FILED      PREPARATIONS FOR:                You!   	[IMAGE]	[IMAGE]  [IMAGE]   FEATURES: ? 14 FRS Channels ? 31 Segment LCD Display   Icons ? Talk Confirmation Tone Option ? Audio Accessory   Connector ? Lock Button ? Audible Cell Alert ? Time Out Timer ? Transmit LED ? Backlit LCD Display

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[IMAGE]


I'm having trouble getting off.  What time is the flight out on the 29th -
that's my trouble day, the latter the better so I can be here in the morining.

"Immer, Ingrid" <Ingrid.Immer@Williams.com> on 11/30/2000 08:52:48 AM
To: "'chris.germany@enron.com'" <chris.germany@enron.com>
cc:
Subject:

Good morning, Chris.

The hotel in NYC is available.? I'll look into alternate departure times on
Jan 2 and let you know what I find.? Please check and see if you can get the
time off.? I won't book anything yet.

Have a good day.??? ii


This request has been pending approval for  10 days and you are the alternate.  Please click http://itcapps.corp.enron.com/srrs/auth/emailLink.asp?ID=000000000080623&Page=Approval to review and act upon this request.

Request ID          : 000000000080623
Approver            : sandeep.kohli@enron.com
Request Create Date : 1/8/02 4:24:19 PM
Requested For       : zhiyong.wei@enron.com
Resource Name       : \\enehou\houston\common\Research - [Read]
Resource Type       : Directory


So, are people in your area getting nervous? Is everybody looking for jobs
at other companies? There are only 3 companies left to interview with
through Duke for Tara. Under normal circumstances she could just contact a
bunch of other energy companies in Houston and probably get as good an offer
from one of them, but with thousands of Enron employees flooding the market,
who knows. Tara found out from a friend of hers at UT that a company called
Peabody in St. Louis is willing to hire anybody with experience at Enron.
Sweet Jesus, I could get season tickets!

-----Original Message-----
From: Jason.Wolfe@enron.com [mailto:Jason.Wolfe@enron.com]
Sent: Thursday, November 08, 2001 4:03 PM
To: eellwanger@triumphboats.com
Subject: RE: thinking of you

If there is an Enron next week, she will probably get an offer. Unless we
are owned by Dynegy.
Then I don't know. Either way, don't quit cleaning boats yet.

    -----Original Message-----
   From:   "Eric Ellwanger" <eellwanger@triumphboats.com>@ENRON
   Sent:   Thursday, November 08, 2001 2:48 PM
   To:     Wolfe, Jason
   Subject:  RE: thinking of you

   Do you still have a job? Tara is hearing some pretty nasty stuff about
   Enron. She's pretty worried that they are gonna renig on their offer.

**********************************************************************
This e-mail is the property of Enron Corp. and/or its relevant affiliate and
may contain confidential and privileged material for the sole use of the
intended recipient (s). Any review, use, distribution or disclosure by
others is strictly prohibited. If you are not the intended recipient (or
authorized to receive for the recipient), please contact the sender or reply
to Enron Corp. at enron.messaging.administration@enron.com and delete all
copies of the message. This e-mail (and any attachments hereto) are not
intended to be an offer (or an acceptance) and do not create or evidence a
binding and enforceable contract between Enron Corp. (or any of its
affiliates) and the intended recipient or any other party, and may not be
relied on by anyone as the basis of a contract by estoppel or otherwise.
Thank you.
**********************************************************************


The following report is comprised of what was discussed at the Commission
meeting held tonight at approximately 7 PM EST and additional intelligence
gathered from FERC staffers after the meeting by Joe Hartsoe:

Physical Withholding -- To prevent physical withholding, the plan will
require sellers with PGA's to offer all their available power in real time.
All California generators, even those not subject to FERC price regulation,
will be required to sell into the ISO's real time market as a condition of
their use of the ISO's interstate transmission lines. Hydroelectric
facilities will be exempted. (24-7 for 1yr)

Price Mitigation -  The plan will establish a single market clearing price
auction for the real time market.  During Stage 1, 2 and 3 emergencies in the
ISO's real time market, each generator (other than hydro) with a
participating generator agreement is required to offer all available power
and bid its marginal cost based on the generator's heat curve, emission
rates, gas costs and emission costs, plus $2 for O&M.  The gas cost will be
the average daily cost of gas for all delivery points in California;
emissions are to be based on Cammon Fitzgerald(?).  The gas cost and
emissions will be published the day after, for use on the following day.  A
single market clearing price is determined in real time for all generators.
Highest bid sets the clearing price.  Each gas fired generator must file with
FERC and the ISO, on a confidential basis, heat and emission rates for each
generating unit.  The ISO will use these rates to calculate a marginal cost
for each generator, including maintenance and operating costs.  In the event
a generator submits a bid higher than the proxy price, the generator must,
within 7 days of the end of each month, file a report with FERC and the ISO
justifying its price.  FERC has 60 days to review/act.  No opportunity costs
in real time.  Marketers are in the same boat, as they must be prepared to
justify bid at purchased cost based on specific purchases or portfolio with
no opportunity cost.  However, credit sleeves are permissible.

Demand Response - Beginning June 1, only public utility load serving entities
must submit demand side bids to curtail load and identify the load to be
curtailed under those bids.  FERC is attempting to break the demand curve.
(24-7)

Outages -- PGA generators will coordinate planned outages and report forced
outages in accordance with the Commission Staff proposal adopted by FERC.

Term - Order expires one year from date of issuance.

RTO Filing - California ISO and two Utilities must make RTO filing by June 1
or Order lapses with no further effect.

ISO Reporting - On September 14, 2001, ISO must file a status report on how
things are working and how much generation has been built.  Comments are due
in 15 days.  Quarterly reports thereafter.

Revocation of Market Based Rate Authority and Refunds - The market based rate
authority of all public utilities is conditioned on 1) no physical withhold
of capacity, and 2) no inappropriate bidding behavior.  Inappropriate bidding
behavior includes bidding unrelated to known characteristics of the
generation unit or without an input cost basis or bidding not based on unit
behavior.  An increased bid based on increased demand could apparently be
inappropriate.  In addition, "hockey stick" bids are expressly prohibited
(i.e.  bidding 95% at marginal cost and 5% at a much higher level).

Limited 206 filing - Applies to sales in the WSCC, outside California.
Refund conditions apply in real time spot markets when contingency within a
control area falls below 7%.  Control areas are not required to publish when
this condition occurs.  Apparently anything over marginal cost must be
justified.  All marketers and non-hydroelectric generators must offer to sell
contractually and physically available capacity/energy to a location within
WSCC.  FERC is attempting to mirror the rules applied in California.
Comments are due in 10 days on the 206 investigations.  The refund effective
date is 60 days from publication of the Order.

Nox Limits in California --  Must sell requirements do not apply if a unit is
prohibited from running by law.  However, it appears that incurring fines
does not overcome the must sell requirement- just include the fines as part
of the price bid.  Also if Nox is limited, may seek to show that generation
would have been sold elsewhere or at different times for determining price.

Surcharge to pay past amount due -- Comments are due in 30 days on 1) whether
FERC should require the ISO to surcharge parties for payment into an escrow
account to pay past costs and 2) the effect this surcharge would have on the
PG&E bankruptcy filing.

No mention was made at the meeting as to issue of exports of power from
California.  The Order is not finally drafted as of yet, and the status of
the foregoing items could change upon issuance of the Final Order.  We will
keep you posted.

RA


Hi, Sara. I hope you had a wonderful holiday weekend.

During our discussion on 11/14, you asked that we provide you with a prime
brokerage fee schedule. I'm working with one of the trading assistants to
find one for you, but we're having some difficulty.

If I'm unable to supply you with a fee schedule, is there a specific way you
would like to word Paragraph 9 "Fees and Charges" (other than the phrase "as
agreed by the parties from time to time")? If you would like to keep your
previously proposed wording, I can run it by Legal one more time with an
explanation of the difficulty we're having.

Thanks so much for your patience,

Regan Grice
Corporate & Investment Banking, Documentation
Phone: 1-800-735-1470 or 704-593-7024
Fax: 704-593-7032
regan.grice@wachovia.com


Julie:  Attached is a document which attempts to summarize our due diligence of the Capacity Center software.  Please let me know if you'd like to get together to go through this information and discuss any next steps.

Tommy Yanowski
x36858


Ben

This is the site map that was in the most recent version of the Pitchbook.
Talk to Peter Hoyt to see if he has the other maps you need.

Rebecca
x57968


Attached are the Mgmt. Summary, Hot List, and Metrics for the week and quarte
ending 7/27/00.  Beginning next week we will be posting this information to
the Executive Reports Viewer.


You're mentioned, glowingly, in this.  It works on real player just fine.

Mark
----- Forwarded by Mark Palmer/Corp/Enron on 06/12/2001 01:18 PM -----

	James D Steffes
	06/12/2001 01:00 PM

		 To: Mark Palmer/Corp/Enron@ENRON, Karen Denne/Corp/Enron@ENRON
		 cc:
		 Subject: An Energy Company That Knows How to Deal With Government

FYI.

Jim
---------------------- Forwarded by James D Steffes/NA/Enron on 06/12/2001
12:59 PM ---------------------------

"Jerry Bowyer" <jerrybowyer@home.com> on 06/12/2001 11:14:09 AM
To: <jerrybowyer@home.com>
cc:

Subject: An Energy Company That Knows How to Deal With Government

Harvard Business School,s Michael Watkins says that among large companies,
Enron is the best at dealing with government, on WPTT radio.

The interview can be heard by clicking on one of the links below.

Winning the Influence Game: http://www.jerrybowyer.com/audio.php?id=145 for
RealPlayer, 5
 minutes.
Winning the Influence Game: http://www.jerrybowyer.com/audio.php?id=146 for
Windows Media Player

Feel free to share this information with anyone on your list, or anyone who
may be interested.

To listen to other Jerry Bowyer interviews from The Jerry Bowyer Program,
Pennsylvania Newsmakers or Focus on the Issues visit
www.jerrybowyer.com/audio.php.

Thanks for listening.

Jerry Bowyer
The Jerry Bowyer Program on WPTT radio in Pittsburgh, 1360am
Pennsylvania Newsmakers around the state on broadcast and cable television
Focus on the Issues on Cornerstone Television
412.771.2282 phone
412.771.2363 fax
jerrybowyer@home.com


The following expense report is ready for approval:

Employee Name: Tyrell G. Harrison
Status last changed by:  Automated Administrator
Expense Report Name: TH112601
Report Total: $175.00
Amount Due Employee: $175.00

To approve this expense report, click on the following link for Concur Expense.
http://expensexms.enron.com


Please be aware that the following internet domains for messaging will be
decommissioned on
OCTOBER 14, 2000 :

@ect.enron.com
@ei.enron.com
@enron.co.uk

After OCTOBER 14, 2000, internet emails addressed to employees using the
above internet domain names will be no longer be delivered.
Please note that this applies to Enron employees worldwide.

All employees must now use their @enron.com internet address.

Some employees are still receiving internet email, primarily subscriptions to
internet-based news/update services, addressed to their @ect.enron.com,
@ei.enron.com or @enron.co.uk email address.   As mails to these addresses
will no longer be delivered after OCTOBER 14, 2000 please contact the service
providers to specify your new @enron.com internet address.

Any employees who are aware of the following should contact the Resolution
Center on ext. 31411 immediately :
 Applications/processes using @ect.enron.com, @ei.enron.com or @enron.co.uk
internet addresses
 Distribution groups being addressed via the internet using @ect.enron.com,
e.g. Enron.London.Developers@ect.enron.com

Please direct any questions to the Resolution Center at ext. 31411.

Thanks for your cooperation.
Enron Messaging Administration


Good morning, Doris!   Stan is in DC today but will be back in the office
tomorrow morning.   Would you allow us to get you comments by 9:00AM tomorrow?

Thanks,
Cindy

Doris Foster@EOTT
05/08/2001 03:59 PM
To: cody.w.smith@us.arthurandersen.com, cpena@velaw.com, Dana
Gibbs/Houston/Eott@Eott, james.d.eggers@us.arthurandersen.com, Karl
Jackson/Houston/Eott@Eott, Lawrence Clayton/Houston/Eott@Eott,
michael.d.jones@us.arthurandersen.com, Molly Sample/Houston/Eott@Eott, Rex
Rogers/Corp/Enron@Enron, rbaird@velaw.com, Scott
Vonderheide/Corp/Enron@Enron, Stanley Horton/Corp/Enron@Enron,
stephen.p.huzar@us.arthurandersen.com, Sandra Schneider/Houston/Eott@Eott
cc:

Subject: Draft of EOTT's 1st quarter 2001 Form 10-Q

Attached is the draft of EOTT's Form 10-Q for the first quarter of 2001.
Please provide all comments on the draft to Lori no later than 8:00 a.m. on
Thursday May 10, 2001.
Thanks


NO


Kim prepared this analysis of historical San Juan/SoCal prices.  Please give
me a call to discuss.

C


Vince,

If you think it is appropriate, please forward my resume to your contact at
Chevron. I am primarily intersted in staying in the SF Bay area or commute to
a location in the West Coast. Any other leads will be appreciated.

Regards,

Osman


---------------------- Forwarded by Kay Mann/Corp/Enron on 06/12/2000 01:37
PM ---------------------------

	Enron North America Corp.

	From:  Kay Mann                           06/12/2000 01:36 PM

To: Peggy Banczak/HOU/ECT@ECT, Steve Irvin/HOU/ECT@ECT, Brian D
Barto/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, sjansen@bracepatt.com
cc:

Subject: RE: Tax Language Changes to On/Off Shore Contracts for Vitro

Hello again,

If these contracts are going to be assigned immediately to Mitsui, isn't the
issue of a guaranty a Mitsui issue? Is this addressed in the EPC contracts?

If an Enron entity must give a guaranty, I would think we would want ENA to
give it, to be replaced by a Mitsui guaranty unless we have some safeguard
against the possibility of paying Mitsui and Mitsui not paying GE, so that we
would have to pay twice.

Kay

---------------------- Forwarded by Kay Mann/Corp/Enron on 06/12/2000 01:31
PM ---------------------------

jeffreye.smith@ps.ge.com on 06/12/2000 01:06:56 PM
To: Brian.D.Barto@enron.com, Kay.Mann@enron.com
cc: tim.lederach@ps.ge.com, Jeff.Blumenthal.ECT@enron.com

Subject: RE: Tax Language Changes to On/Off Shore Contracts for Vitro

Brian,
Thanks.  The changes to the on & off-shore contracts are OK.
I have replied to an e-mail from Kay concerning the "letter agreement", of
earlier today.  As far as I am concerned, we are ready to go there (you were
copied).
Kay indicated that the consolidation agreement would be today's focus of
attention.  I have not seen any feedback pursuant to my 1/Jun/00 e-mail.
    <<Enron Monterrey/Vitro>>
Your comment about the parent company guaranty reminds me that the above
e-mail also called for such a guaranty from Enron, as Enron NA is no longer
the purchaser.
Regards,
Jeff Smith

-----Original Message-----
From:   Brian D Barto [mailto:Brian.D.Barto@enron.com]
Sent:   Monday, June 12, 2000 11:10 AM
To:   Jeffreye.smith@ps.ge.com; Kay Mann; Jeff Blumenthal
Cc:   tim.lederach@ps.ge.com
Subject:   Tax Language Changes to On/Off Shore Contracts for Vitro

 << File: VITRO5-on-r1e.wpd >> << File: VITRO5-off-r1e.wpd >>

Jeff:  I have picked up the changes to Section 5.2.2 per the email exchange
by
Tim and Jeff B.

Please note that Jeff B. condition that a parent guarantee be provided has
been
picked up in Section 3.7 and Exhibit C-1 has been modified to show General
Electric Company as the parent.

These are the final versions to date:

(See attached file: VITRO5-on-r1e.wpd)(See attached file:
VITRO5-off-r1e.wpd)

Jeff Smith:  PS  Kay Mann said she would close up the Consolidation
Agreement
discussions with you too.

-----
Sender: jeffreye.smith@ps.ge.com
To: Brian.D.Barto@enron.com
Cc: Kay.Mann@enron.com, stephen.swift@ps.ge.com,
   patricia.gonzalez@ps.ge.com, karl.siverling@ps.ge.com,
   william.danaher@ps.ge.com, john.schroeder@ps.ge.com,
   scott.terhune@ps.ge.com, alfredo.graciansilva@ps.ge.com
Subject: Enron Monterrey/Vitro
Date: Thu, 1 Jun 2000 23:09:27 -0400
Importance: high
X-Priority: 1
X-Mailer: Internet Mail Service (5.5.2651.58)

Brian,
Here are my comments on several items.
*   The consolidation agreement.
*   In 1.b, thanks for reflecting the GE suggestion.  However, near the
end of the paragraph, the word "remedy" should move to immediately after
"exclusive".
*   In 8, the reference should be to paragraph 10.a, not 11.a.
*   In 10.a, it does not look like the wording in my 30/May/00 e-mail
was picked up.
*   In 12 and 13, Enron has added new wording since the preceding
issuance of this document.
*   In 13, is all of this wording necessary and applicable.  At the end
of the first long sentence, the word "turnkey" is used.  Of course, this is
an equipment supply contract for GE.
         Also, I believe the contracts do state what is in GE
scope via clauses 1.27, 1.86 and 3.1.  So, the last sentence is redundant.
*   More importantly, these two clauses could be interpreted as
establishing a GEPS/GEIOC consortium.  This is something GE had advocated as
the approach in as single contract for tax purposes in Mexico.  GE can still
go either way, although the single document approach is more straightforward
(and that is what we initialed in your offices last month).  Enron wanted
split contracts.  These clauses may undo what Enron was attempting to
achieve in this regard.
*   In 14, which has been added by Enron in the latest version of the
consolidation agreement, the GE entities seem to be prevented from getting
an extension of time under one contract if there is a problem with
performance under the other.  This is contrary to the words in the former
Enron clause 5, which has now been eliminated.  This clause 14 should be
removed.
*   Regarding the "swap" payments for tax purposes, to benefit both
Enron and GE:
*   The amount paid to date on the Monterrey unit, under the MOU, is
$25,101,733.  What GE proposes it to:
*   Revise the payment schedule for the contracts such that payments
totaling this amount are due 2-3 days after contract signing.
*   Execute a separate letter, to be signed at the same time as the
contracts, formally dissolving the MOU.  The letter would call for GE to
refund this same amount 2-3 days after receipt of the payment under the
contracts.
            We need to draft this letter, which will
hopefully be one page.  The text of such a letter could include the
following wording:
            "Pursuant to clause 30.3 of the now executed
On and Off Shore contracts for this project, the MOU dated ______ is made
null and void.  Once the initial payment(s) called for in said contracts
have been made, the monies in the amount of $25,101,733.00, which were paid
under the MOU will be refunded to (Enron entity)."
*   This would get the monies to the appropriate Enron and GE entities.

      In a related matter, since the legal Enron entity has
changed, GE requests a parent guarantee (using form already shown in the
contract(s)).
Regards,
Jeff Smith

-----Original Message-----
From:   Brian D Barto [mailto:Brian.D.Barto@enron.com]
Sent:   Wednesday, May 31, 2000 11:01 AM
To:   jeffreye.smith@ps.ge.com; Kay Mann
Subject:   Consolidation Agreement

 << File: Mac Word 3.0 >>

Kay and Jeff:

Please review and comment.  Kay's comments are included and do not look
unreasonable.  Jeff please edit this document and send back to Kay and I to
see
what you are thinking about in the clause that used to be 11, now 10, I
think.

(See attached file: GE Vitro WRAP rev 2.doc)


(See attached file: HPLN1123.xls)

 - HPLN1123.xls


-------- Original Message --------
Subject: Social Security
Date: Fri, 29 Sep 2000 08:57:03 -0700
From: WillBowen@bmb-inc.com
To: "Averyt Knapp (E-mail)" <averytk@pointecom.net>,Bill Rucker/BMB
<rucker@wwrpc.com>,"Bob Edwards (E-mail)"
<bob_edwards@mckinsey.com>,David Pustka <davidp@bsnx.com>,"David Yeates
(E-mail)" <david.yeates@apachecorp.com>,Davis Ross
<Rossdavis@davisbros.com>,Jeff Hewitt <jeff.hewitt@db.com>,Jim Oyer
<Jim_Oyer@hines.com>, Larry Fossi <Lfossi@velaw.com>,"Mark Anderson
(E-mail)" <mark.anderson@tmpsearch.com>,Myall Hawkins
<Mhawkins@jenkens.com>,"Ray C. Frierson" <ray@friersoncpa.com>,Richard
Smalling <richard.w.smalling@uth.tmc.edu>,Scott Wilson
<scott.wilson@us.cibc.com>,"Stpaul Chris" <chris.stpaul@csfb.com>,Tom
Wood <twood@rwbaird.com>,Will Leven <wleven@levenandmark.com>,Art Smith
<asmith@herold.com>,John Pellegrin <jdpellegrin@aep.com>

----- Forwarded by Will Bowen/BMB on 09/29/00 10:49 AM -----

                    Sam
Bowen
                                         To:
OFFICE
                    09/28/00
cc:
                    07:33 AM             Subject:     Social
Security

----- Forwarded by Sam Bowen/BMB on 09/28/2000 09:25 AM -----

                    "Bill
Livesay"
                    <LIVEB@andrews-        To:
<Galv1@aol.com>,
                    kurth.com>
<miclette@bmb-inc.com>,

<SBowen@BMB-Inc.com>,
                    09/28/2000
<bolling@flash.net>
                    08:32 AM
cc:
                                           Subject:     Social
Security

PASS THIS ON TILL IT REACHES EVERYONE BY ELECTION TIME

Our Senators and Congressmen don't pay in to Social Security, and, of
course, they don't collect from it.The reason is that they have a
special retirement plan that they voted for themselves many years ago.
For all practical purposes, it works like this:

When they retire, they continue to draw their same pay, until they die,
except that it may be increased from time to time, by cost of living
adjustments. For instance, former Senator Bradley, and his wife, may be
expected to draw $7,900,000, with Mrs.. Bradley drawing $275,000 during
the last year of her life. This is calculated on an average life span
for each. This would be well and good, except that they paid nothing in
on any kind of retirement, and neither does any other Senator or
Congressman.

This fine
retirement comes right out of the General Fund: our tax money. While we
who pay for it all, draw an average of $1000/month from Social Security.
Imagine for a moment that you could structure a retirement plan so
desirable that people would have extra deducted so that they could
increase their own personal retirement income. A retirement plan that
works so well, that  Railroad employees, Postal Workers, and others who
aren't in it, would clamor to get in. That is how good Social Security
could be, if only one small change were made. That change is to jerk the
Golden Fleece retirement out from under the Senators and Congressmen,
and put them in Social Security with the rest of us. Then watch how fast
they fix it. If enough people receive this, maybe one or some of them
along the way,  might be able to help.

How many can YOU send it to ??

William R. Livesay, Jr.
Executive Director
Andrews & Kurth L.L.P.
600 Travis
4200 Chase Tower
Houston, TX  77002
713.220-3816
713.238-7115, Fax
billlivesay@andrews-kurth.com


Michael Hayes - cell phone - 781-367-8828


that bid won't be there next week :(

"Bass, Jason" <Jason.Bass2@COMPAQ.com> on 09/21/2000 10:40:20 AM
To: "'Eric.Bass@enron.com'" <Eric.Bass@enron.com>
cc:
Subject: RE: Give me a call

I am going to play with Taylor one week.  I have been waiting this long.  I
know I am blowing a real good deal, but I will come to you next week, after
I see what he can do.

Jason Bass
TSE
Compaq Computer Corporation

 -----Original Message-----
From:  Eric.Bass@enron.com [mailto:Eric.Bass@enron.com]
Sent: Thursday, September 21, 2000 10:26 AM
To: Bass, Jason
Subject: RE: Give me a call

have you decided?  I am not trying to rush you - but I am leaving early
today for Austin - so I need to set my lineup before I leave!

Let me know

"Bass, Jason" <Jason.Bass2@COMPAQ.com> on 09/21/2000 09:39:48 AM

To:   "'Eric.Bass@enron.com'" <Eric.Bass@enron.com>
cc:
Subject:  RE: Give me a call

That sounds viable.  Give me a little time to mull it over.  I commend you
decent offer :)

Jason Bass
TSE
Compaq Computer Corporation

 -----Original Message-----
From:     Eric.Bass@enron.com [mailto:Eric.Bass@enron.com]
Sent:     Thursday, September 21, 2000 9:16 AM
To:  Bass, Jason
Subject:  RE: Give me a call

walls, toomer, and garner for taylor?  that is the best i can do and that
is the best deal you will get for taylor all year regardless of how he
does.

now i would be willing to talk freeman if you want to thro in either
watters, anderson or george?

I need to know fairly quickly

"Bass, Jason" <Jason.Bass2@COMPAQ.com> on 09/21/2000 08:56:31 AM

To:   "'Eric.Bass@enron.com'" <Eric.Bass@enron.com>
cc:
Subject:  RE: Give me a call

I am happy with my Tight End and Garner has proven less valuable than
Watters thus far this season.

Jason Bass
TSE
Compaq Computer Corporation

 -----Original Message-----
From:     Eric.Bass@enron.com [mailto:Eric.Bass@enron.com]
Sent:     Thursday, September 21, 2000 8:54 AM
To:  Bass, Jason
Subject:  RE: Give me a call

what about toomer, garner , prentice and either wesley walls or tony
gonzalez for taylor and watters?

"Bass, Jason" <Jason.Bass2@COMPAQ.com> on 09/21/2000 08:49:24 AM

To:   "'Eric.Bass@enron.com'" <Eric.Bass@enron.com>
cc:
Subject:  RE: Give me a call

Eric,

Let me know if I have Anderson or not.  If I have Morton I want to pick him
up and drop my other kicker.  If I don't have Morton do the same thing
except pick Hanson up instead of Anderson

Jason Bass
TSE
Compaq Computer Corporation

 -----Original Message-----
From:     Eric.Bass@enron.com [mailto:Eric.Bass@enron.com]
Sent:     Wednesday, September 20, 2000 4:45 PM
To:  Bass, Jason
Subject:  Give me a call

713-853-0977


---------------------- Forwarded by Mike Grigsby/HOU/ECT on 01/31/2001 03:55
PM ---------------------------

Anne Bike@ENRON
01/31/2001 12:47 PM
To: Phillip K Allen/HOU/ECT@ECT, prices@intelligencepress.com, lkuch@mh.com,
SSPEAKER@ENERGYINTEL.COM, Phillip K Allen/HOU/ECT@ECT, Mike
Grigsby/HOU/ECT@ECT, Darron C Giron/HOU/ECT@ECT, Carey M Metz/HOU/ECT@ECT
cc:
Subject: Enron's February Baseload Fixed Price Physical Transactions as of
01/30/01


Transwestern's average deliveries to California were 1118 MMBtu/d (100%) with
San Juan lateral throughput at 812 MMBtu/d and Rio Puerco at 75 MMBtu/d.
Total east deliveries averaged 291 MMBtu/d.

El Paso's average deliveries to California were 2355 MMBtu/d (80%) :
- PG&ETop (capacity 1140 MMBtu/d) deliveries averaged 666 MMBtu/d (58%)
- SoCalEhr (capacity 1248 MMBtu/d) deliveries averaged 1191 MMBtu/d (95%)
- SoCalTop (capacity 541 MMBtu/d) deliveries averaged 498 MMBtu/d (92%)

Friday posted Gas Daily prices:
 SoCal gas, large pkgs  15.35
 PG&E, large pkgs  14.25
 TW San Juan      5.82
 TW Permian      5.985

Friday Enron Online bases:
  Mar  Apr-Jun  Jul-Sep  Oct
Perm-CA 4.47  2.26  3.31  2.16
SJ - CA  4.79  2.72  3.78  2.64
SJ-Waha   .24      .44    .45       .46
Perm-Waha   .085       .015    .015                   .015


We will be holding our regular Ops Cmte Mtg on Friday, 6/29


fyi
---------------------- Forwarded by Peggy Mahoney/HOU/EES on 08/09/2000 01:01
PM ---------------------------

djcustomclips@djinteractive.com on 08/09/2000 02:00:36 PM
Please respond to nobody@mail1.djnr.com
To: 1529@WCTOPICS.djnr.com
cc:
Subject: Enron Corp.: Calif. city contracts with Enron to protect from
volatility

Calif. city contracts with Enron to protect from volatility

08/08/2000
Megawatt Daily
(c) Copyright 2000 Pasha Publications, Inc. All Rights Reserved.

  A small California city that currently buys one-third of its
electricity on the wholesale market has turned to Enron Power Marketing
for protection from price volatility.

  The City of Roseville, which operates a municipal electric utility,
last week signed a five-year contract with Enron, beginning Sept. 1,
under which Enron will provide the city with 50 MW around-the-clock at a
fixed price of $49/MWh. The total bill to the city will come to $114
million.
  "One-third of our needs today, we have to go the market," said Tom
Habashi, director of Roseville Electric. The muni, which has a peak
summer load of 240 MW to 250 MW, obtains about one-third of its power
needs from the Western Area Power Administration and the remaining third
from generating units it owns through the Northern California Power
Agency.

  Hot weather in June drove demand much higher than Roseville had
predicted earlier in the year, Habashi said. Power consumption in July
was below predictions, but prices were twice as high as had been
forecast. The cost for power in August is expected to remain much higher
than predicted, Habashi said.

  Once the summer months have passed, Roseville expects to pay about $6
million more than it had budgeted for wholesale power expenses. That,
Habashi said, led the city to look for alternatives.

  "We had to weigh things out, see whether we are willing to take the
risk of market price fluctuations and pass those prices along to
customers," he said.

  On the flipside, he noted, prices could go below the fixed rate
Roseville will pay to Enron through September 2005. The city, through a
vote of the City Council last Friday, chose to contract with Enron
despite the potential risk. Habashi said the contract "will give us some
stability."

  Another unknown variable, Habashi said, is how many Roseville
customers will switch power providers. A few were given the option at
the beginning of this year, but none have left yet. Choice for all
customers will be phased in over four years.

  The city, which is located about 15 miles from Sacramento, expects
rapid residential and business growth, and is forecasting that its
electricity needs will double by 2005.         ML

Folder Name: Enron Corp.
Relevance Score on Scale of 100: 83

______________________________________________________________________

To review or revise your folder, visit http://www.djinteractive.com or
contact Dow Jones Customer Service by e-mail at custom.news@bis.dowjones.com
or by phone at 800-369-7466. (Outside the U.S. and Canada, call 609-452-1511
or contact your local sales representative.)
______________________________________________________________________

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


Chris,

I don't think that there is any price reported for Indonesian tropical hardwood but I'll check and make sure.

Monika
 -----Original Message-----
From: 	Chenoweth, Christopher
Sent:	Thursday, August 09, 2001 8:33 AM
To:	Causholli, Monika
Subject:	FW: NBSK - BEK Basis

Monika,

Can you help me with the below request?  Where can I find historical pricing data for mixed tropical hardwoods and acacia?  Thank you

Chris

 -----Original Message-----
From: 	Boudreaux, Jay
Sent:	Wednesday, August 08, 2001 3:43 PM
To:	Chenoweth, Christopher
Subject:	FW: NBSK - BEK Basis

Chris,

Can you provide a similar analysis for mixed tropical hardwoods versus NBSK?  Acacia versus NBSK?  We have an opportunity to pursue these commodities and provide structured solutions, etc.

JBB

 -----Original Message-----
From: 	Chenoweth, Christopher
Sent:	Wednesday, August 08, 2001 10:50 AM
To:	Boudreaux, Jay
Subject:	NBSK - BEK Basis

 << File: BEK Prices.xls >>


Introducing your first SAP Paycheck!

This is the first payroll processed in SAP for all employees paid out of
Corporate Payroll. You may notice some changes in the way information is
reflected on your pay advice, the most common are itemized below.

What,s Different?
? Your +home, cost center will be displayed at the top of the pay advice.
This is your department number as designated in the HR and financial modules
of SAP.

? Any earnings descriptions that start with a +P, represent earning types
reported in the prior period. For instance, if you reported vacation time for
the July 1st-15th pay period, it will be reflected on your July 31st pay
advice as +PVacation,.

? Flex dollars will appear on the earnings section of the pay advice instead
of as a credit in the deduction section. The various benefit deductions will
remain itemized in the deduction section.

? If you transfer between Enron companies during the year, your year)to-date
totals will carry forward to the new company pay advice. Previously, the
year-to-date totals started over when transferred to another company. This
change will provide your total Enron earnings and deduction amounts on your
pay advice throughout the year.  (Note that your W2 at the end of the year
will reflect your earnings by company).

? For salaried employees, any reported exception time (e.g. vacation, sick
day, etc.) will be reflected on the earnings section with hours only, the
related dollar amount will be included in the +Salary, earnings type.

? For any other information or further explanations regarding your payroll
contact the Payroll Call Center at 713-345-5555

Payroll FAQ,s

My paycheck has a line called &other deductions8, what does that stand for?
There is a fixed amount of lines to print deductions on the paycheck.  For
some employees, the number of deductions are more than we have room to
print.  In this circumstance, the system totals all remaining deductions and
prints them on one line ) titled &other deductions8.  The detail of all
deductions can be viewed on the pay advice that is displayed on the intranet
at eHRonline.enron.com.

What do the earnings or deduction codes on my paycheck mean?
These definitions are listed on the Payroll webpage located at
hrweb.enron.com, select Enron Payroll  from the side index.

Why is my overtime not reflected on my paycheck?
Overtime is paid one pay period in arrears, therefore it will be reflected in
the next pay period. For example, if you reported overtime for the
July 1st )15th pay period, it will be reflected on your July 31st pay advice
as +POvertime,.

What is the limit for Social Security (FICA)?
For year 2000 the limit is $4,724.40 on a wage base of $76,200. This limit is
applied to each Enron payroll tax company. Therefore, if you transfer to
another Enron company these limits will start over, however, the total amount
withheld across all companies will be reflected on your paystub. Excess FICA
will be credited to you by the IRS via your tax return.

What federal income tax rate is used for my bonus or when I exercise stock
options?
There is a standard federal income tax rate of 28% for these earnings. This
can be higher if the employee has completed a Supplemental Tax form
requesting a higher rate (this form can be found at hrweb.enron.com , select
Enron Payroll  from the side index).


Due to a conflict, the Regulatory Roundtable Meeting scheduled for Tuesday,
November 14 from 3:30 - 4:30 pm has been rescheduled for Tuesday, November 28
from 3:30 - 4:30 pm in 49C2.

Thanks


please try to verify.  Thanks.  Sara
---------------------- Forwarded by Sara Shackleton/HOU/ECT on 09/16/99 11:47
AM ---------------------------

Sara Shackleton
09/16/99 10:16 AM
To: "MAIL - Caixa Postal Central" <MAIL@tfts.tozzini.com.br>
cc:
Subject: Re: E-mail

How about Friday, Sept. 17, at 9 am (Houston time) which is 11 am (Sao Paulo)
time?  Please advise.  Sara

"MAIL - Caixa Postal Central" <MAIL@tfts.tozzini.com.br> on 09/16/99 09:24:58
AM
To: Sara Shackleton/HOU/ECT@ECT
cc:
Subject: E-mail

___________________________________________
Warning
NOTICE: This message is confidential. If you have received it by mistake
please let us know by reply and then delete it from your system; you should
not copy this message or disclose its contents to anyone. Thank you.

 - Em-enro2.doc


In addition to the people you're already sending the EES sheet to, please copy Bill and myself when you send this out each day.

Let me know if you have any questions.

Thanks,
Kate


Importance:  High
---------------------------------

FYI
---------------------- Forwarded by Brent Hendry/ENRON_DEVELOPMENT on
14/07/99 12:20 PM ---------------------------

Randy Young
14/07/99 01:01 PM

To:   Scott Porter/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:   Brent Hendry/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Andrea
Bertone/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Andrea
Calo/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject:  Re: Financial Trading in Brazil  (Document link: Brent Hendry)

Sara Shackleton is in the trading group in Houston.  She is in the same legal
group as Brent Hendry and Andrea Calo.  To my knowledge she is not dedicated
100% to South America.

I would be happy to share with you what I know about how the reorganization
will impact the legal department structure.  Please come by the office when
you can.  As it relates to trading activities in the region, it does not
appear that there will be any material change in the structure.  Brent and
Andrea Calo will continue to report to a trading group ultimately headed by
Mark Haedicke.  We will continue to work closely together in the way we have
been.

On Brazil matters, continue to go to Andrea Bertone as the "generalist." When
we have financial or other trading issues, Brent Hendry (and whomever else he
thinks appropriate in Houston or elsewhere) will be involved.  Brent, Andrea
B and Andrea C are communicating virtually every day; therefore, I would just
assume Andrea and Brent are communicating on each deal.  Feel free, however,
to call Brent directly if you like.  Andrea Bertone is given the "point"  for
the convenience of your guys.  She is not to function as the
"gatekeeper."

Brent and I are together on this, and I spoke with him today. Hope this is
helpful, but let's discuss.

Regards,
Randy

Scott Porter
07/14/99 01:23 AM

To:   Brent Hendry/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Randy
Young/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:

Subject:  Financial Trading in Brazil

Who is this lawyer and who do they report to?  Are they dedicated 100% to
South America?  Can someone explain to me how the recent reorganization will
impact our legal department structure, especially with regard to support for
trading activities in the region.  Thanks.

Scott
---------------------- Forwarded by Scott Porter/ENRON_DEVELOPMENT on
07/13/99 10:22 PM ---------------------------

Andre Cangucu
07/13/99 01:37 PM

To:   Gustavo Junqueira/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Michael
Guerriero/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, David S
Reinfeld/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Allison
Venditti/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Maria Ines
Granado/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Scott
Porter/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Idel
Metzger/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Corbin
Barnes/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Ricardo
Lisboa/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Marcelo
Parodi/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Claudia
Brun/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, D'Arcy
Carroll/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Andrea
Bertone/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:
Subject:  Financial Trading in Brazil

Thanks Sara.

I'm talking about OTC commodity swaps (kraftliner paper). Gustavo will be
probably contacting you in the next days to get more information about that
since I will be moving to Houston. I will be rotating into the former EI
Structuring Group (Commodity Price Risk) starting next week. Let's see if we
can seat together the next or the following week so I can give you some
details of the financial prepay and why we need a separate swap.

Regards,

Andre
---------------------- Forwarded by Andre Cangucu/ENRON_DEVELOPMENT on
07/13/99 03:30 PM ---------------------------

Sara Shackleton@ECT
07/12/99 05:05 PM

To:   Andre Cangucu/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:   Brent Hendry/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT

Subject:  Financial Trading in Brazil

Per my voice mail, please contact me regarding swaps and other derivative
activity in Brazil.   I am replacing Yao Apasu as the Houston based trading
lawyer.  Houston/Buenos Aires  have been in contact with lawyers at Tozzini
regarding financial trading matters.  Would like to discuss issues with you.
Are ;you talking about OTC or exchange traded swaps?  commodity?  equity or
fixed income?  Please call and send your fax number.  Thanks.  Sara

phone:     713/853-5620
fax:            713/646-3490


---------------------- Forwarded by Julissa Marron/Corp/Enron on 02/09/2001
09:09 AM ---------------------------

Stacie Guidry
02/09/2001 08:47 AM
To: John Howard Harrison/HOU/ECT@ECT, tdross@pdq.net, rlsimon51972@aol.com,
ckidder@bellsouth.net
cc: Julissa Marron/Corp/Enron@ENRON

Subject: Too Precious!!!! [Attachments have been scanned for viruses.]

---------------------- Forwarded by Stacie Guidry/NA/Enron on 02/09/2001
08:45 AM ---------------------------

	Amanda Talbot @ EES
	02/09/2001 08:12 AM

To: Jennifer Sepeda/HOU/EES@EES, Stacie Guidry/NA/Enron@Enron, Ruby
Kyser/NA/Enron@Enron, Georgia Matula/HOU/EES@EES, Christie Manck/HOU/EES@EES,
Anna Bailey/HOU/EES@EES, Kathy Armstrong/HOU/EES@EES, Felisa
Lewis/HOU/EES@EES, Libby Lakhdari/HOU/EES@EES, Maxine Woodard/HOU/EES@EES,
Chastity Estes/HOU/EES@EES, Niki Davis/ECF/Enron@ENRON, Beverly
Stephens/Corp/Enron@Enron, Laura Bacon/Enron@EnronXGate,
bathtubgin311@hotmail.com, patsytalbot@mailcity.com, pammy912@aol.com,
alt0975@swbell.net
cc:

Subject: Too Precious!!!! [Attachments have been scanned for viruses.]

---------------------- Forwarded by Amanda Talbot/HOU/EES on 02/09/2001 08:09
AM ---------------------------

Copier Repair@ECT
02/09/2001 08:07 AM
To: Cheryl Slone/EPSC/HOU/ECT, Shellyo15@cs.com, Amanda Talbot/HOU/EES@EES
cc:
Subject: Too Precious!!!! [Attachments have been scanned for viruses.]

 - gift.jpg


Dana:

I haven't heard from credit.  Why don't you call Tana Jones (our EOL
paralegal specialist) at 713-853-3399 and let her know that you want to
pursue the Electronic Trading Agreement and GTC's for online trading.  I will
also provide Tana with the background discussion that you and I had.  At
least she can get you moving on EOL and pursue credit at the same time.  Let
me know if you have any questions.  Thanks.

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

	"Dellacona, Dana (Commodities - NY)" <ddellacona@Hess.com>
	02/13/2001 09:12 AM

		 To: "'Sara.Shackleton@enron.com'" <Sara.Shackleton@enron.com>
		 cc: "Cerria, Chuck (Commodities - NY)" <ccerria@Hess.com>
		 Subject: RE: Hess-Enron ISDA Agreement(s)

Sara,

Per our discussion on February 6th, I was wondering if you had any feedback
from your credit people regarding the five Enron-Hess entity ISDAs we
discussed.  Also, as I mentioned in the February 6th e mail to you, Amerada
Hess Corporation would like to be able to trade on Enron On-Line
immediately.  Can you give me a call to discuss how soon we can make
arrangements for this?

Thanks,

Dana M. Dellacona
1185 Avenue of the Americas
NY, NY 10036
Ph:212.536.8133
Fx:917.342.8810
ddellacona@hess.com

-----Original Message-----
From: Sara.Shackleton@enron.com [mailto:Sara.Shackleton@enron.com]
Sent: Tuesday, February 06, 2001 7:11 PM
To: ddellacona@Hess.com
Subject: Hess-Enron ISDA Agreement(s)

Dana:

Mark Taylor asked that I look into this for you.  Please give me a call
and/or send me an email.  Thanks.

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 02/06/2001 06:02 PM -----

                    Mark Taylor

                                         To:     Sara Shackleton/HOU/ECT@ECT

                    02/06/2001           cc:

                    05:51 PM             Subject:     Hess-Enron ISDA
Agreement(s)

----- Forwarded by Mark Taylor/HOU/ECT on 02/06/2001 05:50 PM -----

                    "Dellacona,

                    Dana                 To:     "'mark.taylor@enron.com'"
<mark.taylor@enron.com>
                    (Commodities         cc:

                    - NY)"               Subject:     Hess-Enron ISDA
Agreement(s)
                    <ddellacona@H

                    ess.com>

                    01/26/2001

                    11:11 AM

Mark,

I would like to contact you in order to follow up to your conversation of
last week with Mr. Chuck Cerria regarding executing an ISDA between
numerous
Hess entities and numerous Enron entities.  Unfortunately, I do not have
your phone number.  Could you either call me or e mail it to me?

Thanks so much,

Dana Dellacona
212-536-8133


Greetings:
Have you seen this?  Any view on whether there's a group of economists who
think otherwise and might be willing to express their views in a response to
this letter?

P.S. Talked to Tyson re: trying to get economists back in the middle of this,
but I wasn't altogether successful.

Best,
Jeff
----- Forwarded by Jeff Dasovich/NA/Enron on 05/29/2001 02:37 PM -----

 - FINALECONOMISTLETTER.pdf


Hi Jeff,

I'm tied up on an endless phone call, but wanted to drop you a note to let
you know that I got your voice mail, and will get back to you shortly.

Kay


-----Original Message-----
From: 	"Darnell" <dmoore21@charter.net>@ENRON
Sent:	Saturday, December 01, 2001 10:58 AM
To:	Dolly Mitchell; Sharon Wagner; Mary Fate; Darnell Robson; Gayle McAdoo; Linda Newsome; Katie Ferrero; Ray Martin; Roxie Wilcox; Sally Cravey; Sherry Ruppelt; Karen Buschlen; Sonny; Lois Shumate; Romalie Talbert; Gretchen Elson; Sean Mayers; Francine Mayers; Mary McConnell; Trudy Mayers; Jessie Mayers; Clark Mayers; Missy Mayers; Carlos Giron; Kristi Giron; Giron, Darron C.; Yvonne Giron
Subject:	Fw: Kids Answers to Science Questions]

-----
>
> > Kids Answers to Science Questions.
> >
> >
> > Q: Name the four seasons.
> > A: Salt, pepper, mustard and vinegar.
> >
> > Q: Explain one of the processes by which water can be made  safe to
> > drink.
> > A: Flirtation makes water safe to drink because it removes  large
> > pollutants like grit, sand, dead sheep and canoeists.
> >
> > Q: How is dew formed?
> > A: The sun shines down on the leaves and makes them  perspire.
> >
> > Q: How can you delay milk turning sour?
> > A: Keep it in the cow.
> >
> > Q: What causes the tides in the oceans?
> > A: The tides are a fight between the Earth and the Moon.  All water
> > tends to flow towards the moon, because there is no water  on the moon,
> > and nature hates a vacuum. I forget where the sun joins in  this fight.
> >
> > Q: What are steroids?
> > A: Things for keeping carpets still on the stairs.
> >
> > Q: What happens to a boy when he reaches puberty?
> > A: He says good-bye to his boyhood and looks forward to his  adultery.
> >
> > Q: Name a major disease associated with cigarettes.
> > A: Premature death
> >
> > Q: What is artificial insemination?
> > A: When the farmer does it to the bull instead of the cow.
> >
> > Q: How are the main parts of the body categorized? (e.g.,  abdomen.)
> > A: The body is consisted into three parts - the brainium,  the borax
> > and the abdominal cavity. The brainium contains the brain,  the borax
> > contains the heart and lungs, and the abdominal cavity  contains the
> > five bowels, A, E, I, O and U.
> >
> > Q: What is the fibula?
> > A: A small lie.
> >
> > Q: What does "varicose" mean?
> > A: Nearby.
> >
> > Q: Give the meaning of the term "Caesarean Section"
> > A: The Caesarean Section is a district in Rome.
> >
> > Q: What does the word "benign" mean?
> > A: Benign is what you will be after you be eight.
> >

Get your FREE download of MSN Explorer at http://explorer.msn.com


Hi, John:

Glad to hear from you.  How is everything?  I am glad the bank deal will go
through and you will put UBS Energy Trading in your business card.

Thanks for your message.  I will check it out.

Have a nice day!

George Huan

----- Original Message -----
From: "Griffith, John" <John.Griffith@ENRON.com>
To: <georgehuan@hotmail.com>
Sent: Monday, December 10, 2001 4:18 PM
Subject: FW: What's up

George,

Check these guys out.  They are a consulting firm.  Jeff Young used to
be my boss.  Let me know.

John
>  -----Original Message-----
> From: Jeff Young <Jeff.Young@PAConsulting.com>@ENRON
> Sent: Monday, December 10, 2001 2:41 PM
> To: Griffith, John
> Subject: RE: What's up
>
> Sure...have them forward resumes and look at our website
> www.paconsulting.com
>
> Jeff
>
>
> -----Original Message-----
> From: John.Griffith@enron.com [mailto:John.Griffith@enron.com]
> Sent: Friday, December 07, 2001 10:14 AM
> To: Jeff Young
> Subject: What's up
>
>
>
>      There are alot of people getting laid off over here.  Do you guys
> have
> any openings?  Can I send them your way to talk to them?
>
>      I am talking experience from the trade floor down to clerks.
>
>      Thanks for any help that you can give.
>
>      John
>
>
>
>
> **********************************************************************
> This e-mail is the property of Enron Corp. and/or its relevant
> affiliate and
> may contain confidential and privileged material for the sole use of
> the
> intended recipient (s). Any review, use, distribution or disclosure by
> others is strictly prohibited. If you are not the intended recipient
> (or
> authorized to receive for the recipient), please contact the sender or
> reply
> to Enron Corp. at enron.messaging.administration@enron.com and delete
> all
> copies of the message. This e-mail (and any attachments hereto) are
> not
> intended to be an offer (or an acceptance) and do not create or
> evidence a
> binding and enforceable contract between Enron Corp. (or any of its
> affiliates) and the intended recipient or any other party, and may not
> be
> relied on by anyone as the basis of a contract by estoppel or
> otherwise.
> Thank you.
> **********************************************************************


We are launching a number of committees to perform key functions across
Enron.  Enron,s breadth of activities and nonhierarchal organization make it
increasingly necessary to broaden the participation of Enron,s next
generation of leadership in the important decisions affecting the company.
Broadening participation will result in increased access to information as
decisions are made and will allow committee members to extend their working
relationships and influence throughout the company.

The committee charters and memberships are set forth below.  Not everyone
listed has been contacted in advance.  We urge you to serve if at all
possible, but, if you cannot, please contact the committee chair.

VP PRC

The VP PRC will continue to be responsible for evaluating the performance of
Enron,s Vice Presidents, determining promotions to Vice President, and
recommending promotions to Managing Director.  Additionally, the VP PRC will
review and propose changes to the PRC process, the performance evaluation
criteria and the promotion criteria.

The VP PRC will be chaired by Dave Delainey and its membership is as follows:

Tim Belden	Ben Glisan	Danny McCarty
Michael Brown	Joe Gold	Jeff McMahon
Rick Buy	Mark Haedicke	Rob Milnthorp
Wes Colwell	Jim Hughes	Matthew Scrimshaw
David Cox	Louise Kitchen	Jeff Shankman
Janet Dietrich	Michael Kopper	Richard Shapiro
Dave Duran	John Lavorato	Marty Sunde
Jim Fallon	Dan Leff

Analyst/Associate PRC

The analyst/associate PRC will be divided into 3 groups.  Enron Europe will
have the same committee evaluate analysts and associates.  This group will be
chaired by John Sherriff and its membership is as follows:

Pierre Aury	Kevin Heffron	Andreas Radmacher
Rob Bayley	Joe Hirl	Stuart Rexrode
Paul Chivers	Chris Mahoney	Marcello Romano
Markus Fiala	Christopher McKey	Bjarne Schieldrop
David Gallagher	Roy Poyntz	Ron Slimp
Bruce Garner	Paul Quilkey	Rob Stewart

The associate PRC for the Americas will be chaired by Stan Horton and its
membership is as follows:

Sally Beck 	Troy Henry	Kevin Presto
Jeremy Blachman	Sean Holmes 	Brad Richter
Don Black	Sean Long 	Stewart Seeligson
Dan Castagnola 	Rodney Malcolm	Hunter Shively
Joe Deffner	Scott Neal 	Jim Steffes
Kevin Garland	John Nowlan 	Andy Zipper
David Gorte	Ozzie Pagan

The analyst PRC for the Americas will be chaired by Steve Kean and its
membership is as follows:

Federico Cerisoli 	Mark Jackson 	Everett Plante
Jennifer Fraser 	Ben Jacoby 	Paul Racicot
Derrick Davies	Steve Jernigan 	Angela Schwarz
Scott Gahn 	Jay Lewis 	Ed Smida
Rod Hayslett	Cheryl Lipshutz 	Jon Thomsen
Rogers Herndon 	Michael Mann	Emilio Vicens
Brenda Herod 	Ed McMichael 	Frank Vickers
Kevin Howard 	Steve Meyers

Analyst/Associate Program

The most essential determinant of Enron,s continued growth is our ability to
attract and develop new talent.  The analyst/associate program has been the
biggest contributor to our success in this area.  Charlene Jackson, currently
leading our analyst/associate program, has taken a commercial position in
EES, account management organization.  We thank Charlene for her hard work
and many contributions to the program.  Going forward, this program will be
administered by a committee chaired by John Sherriff, CEO of Enron Europe.
The members of this committee are listed below.  Billy Lemmons, currently
Vice President of Enron Global Markets, will lead the day-to-day operations
of the program. Billy joined Enron in 1992, and has served in a variety of
commercial capacities across the company and has been an active participant
in the Associate /Analyst program.  Please join us in congratulating Billy on
his new responsibilities.

Phillip Allen	Andy Fastow	Eric Shaw
Robina Barker-Bennett	Kevin Garland	Hunter Shively
Rick Causey	Ken Rice	Stu Staley
Joe Deffner

Culture

We are combining the vision and values, diversity and corporate
responsibility committees into a single corporate culture committee chaired
by Ken Lay.  Cindy Olson, Beth Tilney and Kelly Kimberly will serve as
executive directors of this committee.  This committee will focus on
leadership and work-life issues (making it easier to attract and retain the
best talent), in addition to continuing the work of the vision and values,
diversity and corporate responsibility task forces.  The members of this
committee are as follows:

Greg Adams	Louise Kitchen	Mark Palmer
Shelley Corman	Michael Kopper	Paula Rieker
Janet Dietrich	Richard Lewis	Jeff Shankman
Jeff Donahue	Sean Long	Mitch Taylor
Gene Humphrey	Dan McCarty	Mike Terraso
Robert Jones	Jean Mrha

The Corporate Policy Committee will conduct the MD PRC and review the
recommendations of the other committees, giving substantial deference to the
decisions of those other committees.  We will be forming other committees to
deal with other significant functions, tasks and issues facing the company.


Here's your review.  Please take a look at it and sign it.  Your signature
does not signify agreeemnt--only that you've reviewed the document.  You can
put comments where indicated or call me to discuss.   I would appreciate it
if you would send the document directly back to me once it's signed.


As you know, Enron,s United Way Executive Solicitation is well under way.
August 9th is the target date to achieve 100% participation and finalize the
commitment from our executives and is also the date for the kick-off of the
company wide drive.  We have a way to go to meet this objective.  Enron,s
United Way goal for the year is $2.3 million (before the corporate match).
ENW,s share of this goal is $161,700.  While these are aggressive goals, they
are very doable, and if everyone contributes their fair share, we can easily
surpass these goals.

Along with focusing on meeting our financial goals, I,d like to have 100%
participation throughout the organization.  This is especially important
among our executives.  We define "participation" as an employee who has
completed their pledge on-line and made a contribution, no matter what the
level.

With the campaign going on-line with electronic pledging, I,ll need the
support of you and your campaigners to increase participation levels across
the ENW organization and reach our financial goals.  Whatever your decision
regarding the level of your pledge, we need 100% participation from our
Executives in order to set a good example for the rest of ENW.  Your
contribution to the United Way will continue to make a difference in our
community.  When you give, you change a life right here in our community.

Please join me in setting the standard for ENW by giving generously and
getting your pledges in by August 9th.

Log-in to system on Netscape or Explorer  --  unitedway.enron.com

Many Thanks,

Greg Whalley


Today's Washington Post contains a favorable comment on negawatts attributed
to House Energy & Commerce Committee Chairman Tauzin, following efforts we
made yesterday with the Chairman and his staff, both directly and via our
consultants.  The Post article reads, "In the coming months, Tauzin said,
Congress will take steps to allow consumers to sell power back to their local
energy grids."  We, of course, will continue to push for a version of this
concept that keeps this process open to multiple buyers and sellers, not just
the local utility.  The article dovetails with information directly from
Chairman Tauzin and Chairman Barton that they will continue to push our
demand buydown proposal, although we are working with them to shore up
support on the committee in the face of opposition from the usual suspects.


I having second thoughts about raising South American limits.  If its not too
late and if I have a vote give me a call.


Final 3360

Hurry up - already bought the watch.


CALENDAR ENTRY:	APPOINTMENT

Description:
	Team Leader Mtg. Conference room EB4102

Date:		5/29/2001
Time:		2:30 PM - 3:30 PM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


Vasant,

Good enough. The last edition includes the discussion of price processes.

Vince

Vasant Shanbhogue
08/01/2000 01:56 PM
To: Stinson Gibner/HOU/ECT@ECT, Pinnamaneni Krishnarao/HOU/ECT@ECT, Grant
Masson/HOU/ECT@ECT, Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Need info on fundamental modeling of prices

One guy, John Neslage, from Corporate/Regulatory Affairs is putting together
a talk for state regulators and wants to talk about fundamental modeling of
energy prices.  He was wondering if our group could shed some light on major
fundamental variables, possibly even for new commodity markets.  I am not
sure if we have done much fundamental analysis, since we focus mostly on
option valuation.  Also, since market power is an important variable,
marginal cost analysis is not sufficient, but if anybody has any info, please
let me know.  I have referred him to the "Managing Energy Price Risk" book.

Thanks,
 Vasant


According to the CES Data Room book, the price on this deal is IF CGAS +
.015.  I changed it in Sitara effective Jan 1, 2000 - Nov 30, 2001.

---------------------- Forwarded by Chris Germany/HOU/ECT on 03/24/2000 06:32
AM ---------------------------

Joan Veselack@ENRON
03/23/2000 05:56 PM
To: Robin Barbe/HOU/ECT@ECT, Chris Germany/HOU/ECT@ECT, Scott
Goodell/Corp/Enron@ENRON
cc: Victor Lamadrid/HOU/ECT@ECT, Robert Allwein/HOU/ECT@ECT, Joann
Collins/Corp/Enron@ENRON, Katherine L Kelly/HOU/ECT@ECT, Colleen
Sullivan/HOU/ECT@ECT
Subject: Roanoke Term Deal

Robin, Tom Clark at PG&E called and is not taking the 4400/day for April 2000.

Chris and Scott, please check deal ticket 145312 for correct pricing. The CES
deal term date  is 12/1/98 to 12/1/2001 and gms # is s-roanoke-2746.

I extended the Enron deal ticket to match the CES deal term. Not sure what
the pricing should be.

Thanks.