---------------------- Forwarded by Judy Hernandez/HOU/ECT on 08/23/2000
11:32 AM ---------------------------

"SOCORRO HERNANDEZ" <SUHERNAN@LLGM.COM> on 08/18/2000 12:55:40 PM
To: <Judy.Hernandez@enron.com>, "JESSICA VEGA" <JVEGA@LLGM.COM>, "KATHY MARIE
MOORE" <KMOORE@LLGM.COM>, <bandama@ssa.co.orange.ca.us>,
<maryloulou@yahoo.com>
cc:
Subject: Fwd: FW: Penney

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From: "WILEMON, TAMMY" <TWilemon@victoria.warmsprings.org>
To: "JULIE VILLARREAL (E-mail)" <jvillarreal@jw.com>,        "Aaron/Mason
Villarreal (E-mail)" <massar@aol.com>,        "Amanda Villarreal (E-mail)"
<Daffy479@aol.com>,        "Austen C. Wilemon (E-mail)"
<macman_11_2000@yahoo.com>,        "Colby J wilemon (E-mail)"
<cjw_11@yahoo.com>,        "James Wilemon (E-mail)"
<emtjnw@dewittec.net>,        "Linda Kroeker (E-mail)"
<lkroeker@nts-online.net>
Subject: FW: Penney
Date: Fri, 18 Aug 2000 09:43:18 -0500
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-----Original Message-----
From: PYATT, VICKI
Sent: Friday, August 18, 2000 9:19 AM
To: Brenda Gescheidle (E-mail); Michael Arnold (E-mail); Sallie Ann Sullivan
(E-mail); Victor H. Arnold (E-mail); 'amy sullivan'; 'Deborah Worrall';
'felisha stelpflug'; 'janna shoe'; 'Kellye Sullivan'; 'marla morrison';
'sherry flume'; 'stacy zella'
Cc: FARMER, LUCRETIA; BLUNDELL, DEBBIE; STOWERS, NOELLE; WILEMON, TAMMY;
CARLEY, BECKI
Subject: FW: Penney

-----

> FOUND PENNY
>
>  I found a penny today
>  Just laying on the ground,
>  But it's not just a penny
>  This little coin I've found.
>  Found pennies come from heaven
>  That's what my Grandpa told me,
>  He said Angels toss them down
>  Oh, how I loved that story.
>
>  He said when an Angel misses you
>  They toss a penny down,
>  Sometimes just to cheer you up
>  To make a smile out of your frown.
>
>  So don't pass by that penny
>  When you're feeling blue,
>  It may be a penny from heaven
>  That an Angel's tossed to you.
>
>  j  j  j  j  (look closely, these are little
>  angels!
>  Pass this on to the people who you care about and who
>  you feel that are angels to you. An angel is now
>  watching over you....  j
>


Mary,
Wish you good luck in your new Job.
I am sure that NWRTO could learn from you experience.
Tony

-----Original Message-----
From: Mary.Hain@enron.com [mailto:Mary.Hain@enron.com]
Sent: Friday, March 23, 2001 10:36 AM
To: David_Aamodt@pgn.com; dapnucc@teleport.com; dick@pnucc.org;
seabron.adamson@frontier-economics.com; Frank_Afranji@pgn.com;
raa@vnf.com; Joseph.Alamo@enron.com; ajaldrich@snopud.com;
Jeff.Alexander@enron.com; Al.Alexanderson@enron.com;
Keonee.Almaida@enron.com; hollis.alpert@ferc.fed.us;
Brenda.Anderson@enron.com; angles@howry.com; Alan.B.Aronowitz@enron.com;
gdb@vnf.com; npbaker@bpa.gov; ellen@tca-us.com; paulb@citizenspower.com;
paulb@citizenspower.com; garybarbour@email.msn.com;
jbartus@cammckenna.com; glynda.becker@mail.house.gov;
Samuel.Behrends@enron.com; bbennett@bpa.gov; sberman@hewm.com;
ramsen.betfarhad@mail.house.gov; KBILAS@SKADDEN.COM; sbooye@SKADDEN.COM;
raymond.r.boyce@state.or.us; tbradley@bracepatt.com;
scott.brattebo@pacificorp.com; sbrose@steptoe.com;
sbuchheit@bracepatt.com; alanb@wutc.wa.gov; Jim.Byrne@enron.com;
vergil.cabasco@mail.house.gov; johncameron@dwt.com;
Doug.Carmichael@enron.com; Ed.Cassidy@enron.com; ajchambe@llgm.com;
Melissa.Chiechi@enron.com; elchristensen@snopud.com;
kevin.clark@ci.seattle.wa.us; rcloward@avistacorp.com;
david_cohen@rniinc.com; Bill.Comish@enron.com;
Victor.Contract@enron.com; powerlac@aol.com;
Frederick.Coolbroth@enron.com; michaelcorrigan@bchydro.bc.ca;
kcorum@nwppc.org; KCurry@bracepatt.com; wcurry@enron.com;
gdahlke@paine-hamblen.com; kadaly@mcimail.com; mday@gmssr.com;
dearing@chelanpud.org; tdeboer@paine-hamblen.com; Tom_Delaney@enron.com;
sdleonard@earthlink.net; dldorrell@stoel.com; Mary.Doyle@enron.com;
Jay.Dudley@enron.com; mce2280@idahopower.com;
michaelearly@earthlink.net; Katherine.Edwards@enron.com;
rle@givenspursley.com; imaxtrans@aol.com; Chris.Elliott@enron.com;
sandra.elliott@ferc.fed.us; kerwin@ect.enron.com; dezickson@mwe.com;
Jim.Fallon@enron.com; fallonr@howrey.com; Elias.Farrah@enron.com;
Michele_Farrell@pgn.com; dfaulk@puget.com; gfergus@brobeck.com;
Willard.Fields@enron.com; sfisher@avistaenergy.com; pfox@bracepatt.com;
Pat.Franklin@enron.com; John.Frazzell@enron.com; ericf@prestongates.com;
don.furman@pacificorp.com; segfurst@bpa.gov; Jackie.Gallagher@enron.com;
craiggannett@dwt.com; Alvaro.Garcia@enron.com; sbishop@gibbs-bruns.com;
wgibson@nwppc.org; ggilbert@ci.tacoma.wa.us; Pat.Gilman@enron.com;
Alex.Goldberg@enron.com; jlgreene@energyadvocates.com;
Chris_Groener@mail.house.gov; Mary.Groggin@enron.com;
Mark.E.Haedicke@enron.com; Stephen.Hall@enron.com;
steve.c.hall@enron.com; Leo.Hamblin@enron.com; whannaford@nwppc.org;
jim.harding@ci.seattle.wa.us; rhardy@hardyenergy.com; kharri@puget.com;
Steve_Hawke@pgn.com; dhawkins@caiso.com; marc.hellman@state.or.us;
Scott.Helyer@enron.com; mhenry@bracepatt.com; dwmp@teleport.com;
rhornby@tca-us.com; mhornst@aol.com; dhuard@jmbm.com;
Marlene.Huntsinger@pgn.com; cfi1@tca-us.com;
Richard.Ingersoll@enron.com; pljacklin@stoel.com; montrey@aol.com;
danj@cfmdc.com; kgjohnson@bpa.gov; ljohnson@pwrteam.com;
Karen.E.Jones@enron.com; mkanner@kannerandassoc.com;
karid@perkinscoie.com; pkaufma@ect.enron.com; Paul.Kaufman@enron.com;
Jeffrey.Keeler@enron.com; Devon Kehoe; James.Keller@enron.com;
Joe.Kelliher@mail.house.gov; kkennedy@bdbc.com; Rick.Kessler@enron.com;
rdking@bpa.gov; Harry.Kingerski@enron.com; Harry.Kingerski@enron.com;
rsk@schwabe.com; gwilliams8@austin.rr.com; John.Klauberg@enron.com;
Holli.Krebs@enron.com; ekrogh@wiredweb.com; blafferty@avistacorp.com;
wdlamb@bpa.gov; John.Lamb@enron.com; Therese.Lamb@enron.com;
srlarson@bpa.gov; Cindy_Tatham@co.washington.or.us;
zora.lazic@bchydro.com; kaleathley@bpa.gov; pamela_lesh@pgn.com;
Debi.LeVine@enron.com; lcg@europa.com; doug.little@powerex.com;
Robert.Loeffler@enron.com; Chris.Long@enron.com; sjlong@bpa.gov;
rlopezv@conet.com.mx; david_lucio@iep.illinova.com;
king.lum@bchydro.bc.ca; kevin.lynch@pacificorp.com;
Mark.Maehr@enron.com; Randal.T.Maffett@enron.com;
John.Malowney@enron.com; Sueyen.Mao@enron.com; Susan.J.Mara@enron.com;
Susan.J.Mara@enron.com; Lee.Martin@enron.com; maurw@perkinscoie.com;
Wayne.Mays@enron.com; Michael.McCall@enron.com;
Sandra.McCubbin@enron.com; Travis.McCullough@enron.com;
Michael.McDonald@enron.com; brugen@erols.com; mckinley@wpuda.org;
mcm@vnf.com; mcnichol@wapa.com; shauna@pnucc.org;
Maureen.McVicker@enron.com; pmeringolo@brobeck.com; demetcalf@bpa.gov;
cemeyer@bpa.gov; jmilegich@sppc.com; fred_miller@pgn.com;
Jeffrey.Miller@enron.com; jerry.miller@pacificorp.com;
Laura.Miller@enron.com; scott.miller@ferc.fed.us; Bill.Miner@enron.com;
phil_moeller@gorton.senate.gov; pmohler@hewm.com; emoler@velaw.com;
nkmorgado@bpa.gov; Mike@tonkon.com; krmoxness@bpa.gov;
mmps@millcreeklaw.com; pmurphy@mbllp.com; terrym@millcreeklaw.com;
bmurtha@acy.sunint.com; Rich.Nassief@enron.com; tod@mgninc.com;
Douglas_Nichols@pgn.com; Patty.Nichols@enron.com;
Christi.Nicolay@enron.com; tmnoguchi@bpa.gov; darcy@tonkon.com;
Sarah.Novasel@enron.com; Sarah.Novosel@enron.com;
Tom.O'Donnell@enron.com; PObenchain@idahopower.com; Pegy.Olds@enron.com;
Carol.Opatrny@enron.com; tpaine@avistacorp.com; Dave.Parquet@enron.com;
bpascoe@mtpower.com; afpaschke@bpa.gov; ccperigo@bpa.gov;
wlpernas@stoel.com; lpeters@pacifier.com; jill@pnucc.org;
Mona.L.Petrochko@enron.com; npickover@bracepatt.com;
Phillip.Platter@enron.com; Alfred.Pollard@enron.com;
Walt.Pollock@enron.com; gporter@sppc.com; Kevin.M.Presto@enron.com;
jquint@puget.com; arlene.ragozin@ci.seattle.wa.us; maraschio@bpa.gov;
Dale.Rasmussen@enron.com; Scott.Rasmussen@enron.com;
Bobby.Reeves@enron.com; preiten@pngc.com; reyna2r@kochind.com;
shellyr@pacifier.com; Jeff.Richter@enron.com; raroach@bpa.gov;
atrodrigues@bpa.gov; rarogers@bpa.gov; peterroi@erols.com;
Rothfelder@rlo-law.com; Richard.Sanders@enron.com; jsaven@pacifier.com;
Michael.Schilmoeller@enron.com; jschlect@avistacorp.com;
Sabine.Schnittger@frontier-economics.com; Diana.Scholtes@enron.com;
Roger.Seifert@enron.com; Cara.Semperger@enron.com;
asettanni@bracepatt.com; Richard.Shapiro@enron.com; vsharp@enron.com;
msmith1@enron.com; Joshua.Sheinkman@enron.com; jshurts@nwppc.org;
Sid@enron.com; msizer@ci.tacoma.wa.us; slavens.paula@deps.ppl.com;
small@wrightlaw.com; small@wrightlaw.com; douglas.smith@ferc.fed.us;
Mike.Smith@enron.com; Roger.Smith@enron.com; Larry.Soderquist@enron.com;
Harvey.Spigal@enron.com; mstauffer@mtpower.com;
James.D.Steffes@enron.com; James.D.Steffes@enron.com;
mestewardpsedc@worldnet.att.net; JKStier@bpa.gov;
rbstrong@paine-hamblen.com; DASwanstrom@Verner.com;
Mike.Swerzbin@enron.com; tabors@tca-us.com; Ron.Tapscott@enron.com;
James.K.Tarpey@enron.com; Jake.Thomas@enron.com;
ryan_thomas@burns.senate.gov; jrt2058@idahopower.com
Subject: I'm Leaving Enron

        maryann@pnucc.org, mtierney@sempra.com, robin_tompkins@pgn.com,
        Ann.Tumlinson@enron.com, AW.Turner@enron.com,
Sheila.Tweed@enron.com,
        Lisa.Urick@enron.com, rvermeers@avistacorp.com,
        Frank.W.Vickers@enron.com, John.Walley@enron.com,
        kristiwallis@sprintmail.com, walshl@howrey.com, swalton@enron.com,
        Steve.Walton@enron.com, kaward@bpa.gov, Kim.Ward@enron.com,
        Carol.Wardell@enron.com, dwatkiss@bracepatt.com, sawatson@bpa.gov,
        judy.welch@NWPP.ORG, 211-6155@mcimail.com, Kwenzel@zzz.com,
        cwestadt@sppc.com, Brian.Whalen@enron.com, Bill.Williams@enron.com,
        klwmtp@worldnet.att.net, lyn_williams@pgn.com, Greg.Wolfe@enron.com,
        Vickie.Wolk-Laniewski@enron.com, Ed.Wood@enron.com, mwood@stoel.com,
        Steve.Wright@enron.com, Teresa.L.Wright@enron.com, WSCC@enron.com,
        Charles.Yeung@enron.com, Christian.Yoder@enron.com,
        Steven.J.Kean@enron.com, Steve.Kean@enron.com,
        Travel.in.the.Park@enron.com, D.Brett.Hunsucker@enron.com,
        Carla.Hoffman@enron.com, Bernadette.Hawkins@enron.com,
        Joe.Hartsoe@enron.com, Donna.Fulton@enron.com,
Roger.Fragua@enron.com,
        James.B.Fallon@enron.com, Michael.Etringer@enron.com,
        Terry.W.Donovan@enron.com, Stacy.Dickson@enron.com,
        Ginger.Dernehl@enron.com, Rhonda.L.Denton@enron.com,
        Jeff.Dasovich@enron.com, Sean.Crandall@enron.com,
Tom.Briggs@enron.com,
        t.briggs@enron.com, Stacey.Bolton@enron.com, dbenevid@enron.com,
        dbenevid@enron.com, Tim.Belden@enron.com, Robert.Badeer@enron.com,
        Phillip.K.Allen@enron.com, Alan.Comnes@enron.com,
Lysa.Akin@enron.com,
        Portland.West.Desk@enron.com, assad@elektro.com.br,
        Alan.Comnes@enron.com, Alberto.Levy@enron.com,
Aleck.Dadson@enron.com,
        Allison.Navin@enron.com, Amy.Fabian@enron.com,
        Barbara.A.Hueter@enron.com, Bernadette.Hawkins@enron.com,
        Bill.Moore@enron.com, cristinah@elektro.com.br,
        Carlos.Gustavo.Azevedo@enron.com, Carmen.Perez@enron.com,
        Carolyn.Cooney@enron.com, Charles.Yeung@enron.com,
        Chauncey.Hood@enron.com, Chris.Long@enron.com,
        Christi.L.Nicolay@enron.com, Cynthia.Sandherr@enron.com,
        Damon.Harvey@enron.com, Dan.Staines@enron.com,
        Daniel.Allegretti@enron.com, Dave.Mangskau@enron.com,
        Donald.Lassere@enron.com, Donna.Fulton@enron.com,
        Eidy.Catala@enron.com, Elizabeth.Linnell@enron.com,
        Frank.Rishe@enron.com, Geriann.Warner@enron.com,
        Ginger.Dernehl@enron.com, Gisele.S.Braz@enron.com,
        Gloria.Ogenyi@enron.com, Guillermo.Canovas@enron.com,
        Harry.Kingerski@enron.com, Howard.Fromer@enron.com,
        James.D.Steffes@enron.com, Janine.Migden@enron.com,
        Javier.Pantoja@enron.com, Jean.R.Dressler@enron.com,
        Jean.Ryall@enron.com, Jeff.Brown@enron.com, Jeff.Dasovich@enron.com,
        Jeffrey.Keeler@enron.com, Joao.Paixao@enron.com,
Joe.Allen@enron.com,
        Joe.Connor@enron.com, Joe.Hartsoe@enron.com, Joe.Hillings@enron.com,
        Jose.Bestard@enron.com, Joseph.Alamo@enron.com,
        Kathleen.Sullivan@enron.com, Kerry.Stroup@enron.com,
        Kikumi.Kishigami@enron.com, Kirsten.Bellas@enron.com,
        Lara.Leibman@enron.com, Laurie.Knight@enron.com,
        Leslie.Lawner@enron.com, Linda.J.Noske@enron.com,
        Linda.Robertson@enron.com, Lindsay.Meade@enron.com,
        Lisa.Yoho@enron.com, Lora.Sullivan@enron.com, Luiz.Maurer@enron.com,
        Lysa.Akin@enron.com, Marchris.Robinson@enron.com,
        Marcia.A.Linton@enron.com, Marcie.Milner@enron.com,
        Mary.Hain@enron.com, Maureen.McVicker@enron.com,
        Melinda.Pharms@enron.com, Michelle.Belzak@enron.com,
        Mona.L.Petrochko@enron.com, Nancy.Hetrick@enron.com,
        Patrick.Keene@enron.com, Ray.Alvarez@enron.com,
        Rebecca.W.Cantrell@enron.com, Ricardo.Charvel@enron.com,
        Richard.Ingersoll@enron.com, Richard.Shapiro@enron.com,
        Robert.Frank@enron.com, Robert.Hemstock@enron.com,
        Robert.Neustaedter@enron.com, Robin.Kittel@enron.com,
        Ron.McNamara@enron.com, rboston@enron.com, Rubena.Buerger@enron.com,
        Sandra.McCubbin@enron.com, Sarah.Novosel@enron.com,
        Scott.Bolton@enron.com, Sergio.Assad@enron.com,
Stella.Chan@enron.com,
        Stephen.D.Burns@enron.com, Steve.Montovano@enron.com,
        Steve.Walton@enron.com, Steven.J.Kean@enron.com, Sue.Nord@enron.com,
        Susan.J.Mara@enron.com, Susan.M.Landwehr@enron.com,
        Terri.Miller@enron.com, Thane.Twiggs@enron.com,
Tom.Briggs@enron.com,
        Tom.Chapman@enron.com, Tom.Delaney@enron.com, Tom.Hoatson@enron.com,
        Tracy.Cooper@enron.com, Valeria.Lima@enron.com,
Vinio.Floris@enron.com,
        Xi.Xi@enron.com, Steven.J.Kean@enron.com, Jeffrey.Keeler@enron.com,
        Christi.L.Nicolay@enron.com, Sarah.Novosel@enron.com,
        Robert.Frank@enron.com, Lara.Leibman@enron.com,
        Gloria.Ogenyi@enron.com, Richard.Shapiro@enron.com,
        Leslie.Lawner@enron.com, Paul.Kaufman@enron.com,
        Aleck.Dadson@enron.com, Daniel.Allegretti@enron.com,
        Howard.Fromer@enron.com, Joe.Hartsoe@enron.com, rboston@enron.com,
        Janine.Migden@enron.com, Christie.Patrick@enron.com,
        Jane.Wilson@enron.com, Rhonda.L.Denton@enron.com,
        kmagruder@newpower.com, scovino@newpower.com,
Rebecca.Carter@enron.com,
        Shelley.Corman@enron.com, Janet.Butler@enron.com,
        Kevin.M.Presto@enron.com, Brad.Richter@enron.com,
Greg.Piper@enron.com,
        Kevin.McGowan@enron.com, Kim.Ward@enron.com, Leslie.Reeves@enron.com
Date: Fri, 23 Mar 2001 10:24:18 -0800
Message-ID: <OFCFA12BE4.1A65CFD4-ON88256A0F.00666A9C@enron.com>
X-MIMETrack: Serialize by Router on ENE-MTA01/Enron(Release 5.0.6 |December
14, 2000) at
 03/23/2001 12:29:04 PM
MIME-Version: 1.0
Content-type: text/plain; charset=us-ascii

I am going to be the Senior Regulatory Counsel at ISO New England starting
on April 9, 2001.   My last day in the Portland area will be March 31,
2001.  I enjoyed working with you and wish you the best of everything.  My
new address will be:

Mary Hain
Senior Regulatory Counsel
ISO New England Inc.
One Sullivan Road
Holyoke, MA  01040-2841
(413) 535-4000
mhain@ISO-NE.com


Start Date: 4/20/01; HourAhead hour: 13;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001042013.txt


-----Original Message-----
From: 	Fuller, Dave
Sent:	Wednesday, July 11, 2001 10:01 AM
To:	Nemec, Gerald
Subject:	Boeing Contract

Gerald,

This is the contract that Boeing requires for their suppliers.  Let me know what you think.

Dave Fuller
503-464-3732


Daren,

Do you want me to adjust anything?

Bob

---------------------- Forwarded by Robert Cotten/HOU/ECT on 06/14/2000 10:28
AM ---------------------------

Vance L Taylor
06/14/2000 10:03 AM
To: Robert Cotten/HOU/ECT@ECT
cc: Carlos J Rodriguez/HOU/ECT@ECT, Donald P Reinhardt/HOU/ECT@ECT, Melissa
Graves/HOU/ECT@ECT
Subject: Re: Volume Increase - HPL Meter 68-6296 (S.G. Marshall) and HPL
Meter 98-6067 (Martinez, MB)

Bob,

The EOG contract stipulates that a Gas daily price should be paid only for
the initial delivery of gas at the execution of gas purchase contract; any
deliveries subsequent to the initial turn-on should be priced at first of
month index.

Thanks,

vlt
x3-6353

	Enron North America Corp.

	From:  Robert Cotten                           06/14/2000 09:39 AM

To: Vance L Taylor/HOU/ECT@ECT
cc: Carlos J Rodriguez/HOU/ECT@ECT
Subject: Volume Increase - HPL Meter 68-6296 (S.G. Marshall) and HPL Meter
98-6067 (Martinez, MB)

Vance,

Should this be priced at Gas Daily?  Please advise.  Thanks.

Bob

---------------------- Forwarded by Robert Cotten/HOU/ECT on 06/14/2000 09:38
AM ---------------------------

Suzanne_Saldivar@eogresources.com on 06/13/2000 10:47:00 AM
To: rcotten@enron.com
cc: charlotte_hawkins@enron.com, crodrig@enron.com
Subject: Volume Increase - HPL Meter 68-6296 (S.G. Marshall) and HPL Meter
98-6067 (Martinez, MB)

Production from the SG Marshall leases has increased due to workovers of
some of the wells.  Effective June 14, 2000, please increase the June 1
estimate from 2,300 mmbtu/d to 8,000 mmbtu/d @ HPL Meter 68-6296 delivery
to HPL Thompsonville (PG7E Meter 834134).

Production from the M. Martinez leases has increased due to a new well
behind meter 98-6067.  The estimates from this meter has increased from
4,600 mmbtu/d to 8,200 mmbtu/d.

Please call me at (713) 651-6858 with any questions.   Thanks!!!


Please see below request for Master.

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

----- Forwarded by Debra Perlingiere/HOU/ECT on 04/06/2001 05:35 PM -----

	"Foy, Donna A(Z35867)" <Donna.Foy@pinnaclewest.com>
	04/03/2001 06:04 PM

		 To: "'Dperlin@enron.com'" <Dperlin@enron.com>
		 cc:
		 Subject: Request for Master Natural Gas Agreement

As I mentioned on the phone, our Traders (Tom Carlson and Theresa Cline) and
our management have requested a Master Agreement for the purchase & sale of
Natural Gas (presumably for firm sales) between Enron and Pinnacle West
Capital Corporation, Arizona Public Service's parent company.  As I further
mentioned, our hope is to have this Agreement in place by next week because
our respective traders are poised to start trading under it.

I have attached PinWest's Company Information Sheet which provides certain
background and contact information.

Please email the draft Agreement as soon as possible to our Contract Manager
(Miki.Kolobara@pinnaclewest.com).  Please contact either Miki (602/250-3427)
or me if you have any questions.  Thank you.

Donna A. Foy
Senior Contract Administrator
APS Bulk Power Contract Administration
(602) 250-3572
{Donna.Foy@pinnaclewest.com}

 <<pwcc info sheet.ppt>>

 - pwcc info sheet.ppt


Tana,

Since I did not see FX trades excluded, I presume that we can confirm FX
trades and options under this master.  Please let me know.  Thanks


Bad Kay bad bad bad Kay.

I'll do it now.

ckm

Ben F Jacoby@ECT
05/22/2001 03:11 PM
Sent by: Ben Jacoby@ECT
To: Kay Mann/Corp/Enron@ENRON
cc:

Subject: Re: Northwestern

Did we send Schroeder the Acknowledgement and Consent?


----- Forwarded by Steven J Kean/NA/Enron on 03/18/2001 07:50 PM -----

	eserver@enron.com
	03/16/2001 09:59 AM

		 To: "Steven.J.Kean@enron.com" <Steven.J.Kean@enron.com>
		 cc:
		 Subject: <<Concur Expense Document>> - JS3/15/01

The following expense report is ready for approval:

Employee Name: James Steffes
Status last changed by:  Automated Administrator
Expense Report Name: JS3/15/01
Report Total: $4,231.54
Amount Due Employee: $4,231.54

To approve this expense report, click on the following link for Concur
Expense.
http://nahou-wwxms01p


If you have an Enron Company Pager please turn it in to Claudia or myself by the end of this week.  We are going to close our account with Pagenet.

Thanks for your help.

T.Jae Black
East Power Trading
Assistant to Kevin Presto
off. 713-853-5800
fax 713-646-8272
cell 713-539-4760


please put in rolodex
---------------------- Forwarded by Jeffrey A Shankman/HOU/ECT on 12/27/2000
11:04 AM ---------------------------

Nathaniel Jeppson <Njeppson@ALLENCO.COM> on 12/22/2000 10:08:44 AM
To: "'jeff.shankman@enron.com'" <jeff.shankman@enron.com>
cc:
Subject: thanks

Jeff,
Great to meet you this morning.  I enjoyed learning about the directions
that you have Enron moving in and I look forward to continuing discussions
with you in the new year.  It was also nice to exchange notes with someone
who shares the collecting bug.

Have a good time out west and don't let Michael and Halley con you into more
cold weather fishing.

Thanks for breakfast,

Nat

Nathaniel Jeppson
Vice President
Allen & Company Incorporated
711 5th Avenue
New York, NY  10022
(212) 339-2557


Return-Path: <Vince.J.Kaminski@enron.com>
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Subject: Re: estimating tail of distribution and additional risk measures
To: vkaminski@aol.com
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---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 04/06/2001
05:56 PM ---------------------------

Tanya Tamarchenko
03/21/2001 09:58 AM

To:   Naveen Andrews/Corp/Enron
cc:   Vince J Kaminski/HOU/ECT@ECT, David Port/Market Risk/Corp/Enron
Subject:  Re: estimating tail of distribution and additional risk measures
      (Document link: Vince J Kaminski)

Naveen,
the "analytical VAR" approach is working for Equity portfolio.
It gives us the tool to examine the tails' behavior for this portfolio and
calculate "Expected Tail Loss".
The same should be done for commodities portfolio as well.

Meanwhile, as we discussed, we can give some rough estimates of the losses
corresponding to percentiles other than 5th.

Look at the figure below. You can see VAR numbers for 5%, 1%, 0.5% and 0.1%
calculated with
1) simulations (100 thousand simulations);
2) analytical VAR (gamma-delta positions representation)

     1) and 2) are very close because there are not many options in Equity
portfolio.

3) simulations (1000 simulations) to calculate 5% VAR. Then in order to
approximately estimate VAR for 1%, 0.5% and 0.1%
I scaled 5% VAR with factors corresponding to normal distribution (for
example: Norminv(0.001,0,1)/Norminv(0.05,0,1) for 0.1%).
The result of such extrapolation in this case is quite good (just 5%
different from the correct number).
We probably can use such rough estimates of tail for commodities portfolio
until we have proper methods implemented.

(Embedded image moved to file: pic21543.pcx)

Tanya Tamarchenko
02/28/2001 01:17 PM

To:   Wenyao Jia/HOU/ECT, Debbie R Brackett/HOU/ECT@ECT
cc:   Vince J Kaminski/HOU/ECT@ECT
Subject:  Re: "analytical" var implementation in RisktRAC  (Document link:
      Tanya Tamarchenko)

Debbie,
I am forwarding to you a 2 page document describing implementation of
"analytical" VAR in RisktRAC.

Here is why this effort is very important:
1. We need to calculate VAR for other percentile but 5 (1% or even 0.2% as
mentioned by Rick Buy)
and our simulation model can not handle required number of simulations;
2. We need to present additional risk measures (such as Mean Tail Loss) to
the Board.

The analytical approach is implemented in a spreadsheet and fully tested
already so there will be no problems
with the algorithm itself.

We need to get together and discuss IT implementation.

What do you think?

Tanya

(See attached file: Analytical_VAR.doc)

 - pic21543.pcx
 - Analytical_VAR.doc


Amelia,

Per Jackie Morgan's request & Gerald Nemec's approval, I am forwarding you
the attached HPL Interruptible Contract form for your further handling.

Thanks,

Eric Gillaspie
713-345-7667
Enron Building 3886


It needs to be sent to Lisa Bills, Roseann Engeldorf, and Ben Jacoby for
approval.

Thanks,

Kay

From: Kathleen Carnahan/ENRON@enronXgate on 05/29/2001 08:26 AM
To: Kay Mann/Corp/Enron@Enron, Carlos Sole/NA/Enron@Enron
cc:

Subject: FW: Revised form of Memorandum of Option

Herman has approved the revised Memorandum of Option.  I will incorporate it
into our form, okay?
K-

 -----Original Message-----
From:  Manis, Herman
Sent: Tuesday, May 29, 2001 7:55 AM
To: Carnahan, Kathleen
Cc: Mann, Kay; Sole, Carlos
Subject: RE: Revised form of Memorandum of Option

ok

 -----Original Message-----
From:  Carnahan, Kathleen
Sent: Friday, May 25, 2001 10:55 AM
To: Manis, Herman
Cc: Mann, Kay; Sole, Carlos
Subject: Revised form of Memorandum of Option

Herman,

Attached is a revised form of Memorandum of Option for your review.  We have
revised it to be consistent with our form of Option to Purchase.

Please advise if these revisions are acceptable.

Thanks

 << File: FORM of Memorandum of Option (2001) Rev 2.doc >>

Kathleen Carnahan
Enron North  America Corp.
1400 Smith Street, EB 3146d
Houston, TX 77002
Phone - (713) 345-3386
Fax - (713) 646-3037


As we discussed today, east curve files have been set up. There is 1 file for physical curves and 2 files containing basis, index, and Y curves. I have saved them out to O:\_Dropbox\Scott P\.

Please take a look at these and have who ever is going to set each of them establish any needed links. They can save them out to the same directory. Risk needs this done by Wednesday afternoon. Thanks.

Scott

3-6599


thanks for looking.  when you leaving?  congratz on being the spokesperson.
if you ever want to compare notes, just let me know.


Julie,

I shall track down Fiona.

She may be on vacation.

Vince

"Julie" <julie@lacimagroup.com> on 03/22/2001 03:28:34 PM
Please respond to "Julie" <julie@lacimagroup.com>
To: "VinceJKaminski" <Vince.J.Kaminski@enron.com>
cc:
Subject: Fw: energy book promotion

Hi Vince,
?
I sent the attached for Enron's approval to Fiona Grant, but haven't heard
back.? In the contract that we signed it states that we need to seek
approval from Enron if we want to use the company name.? Is there someone
else we should direct these requests?
?
Hope you are well.
?
Julie
?
?
?
----- Original Message -----
From: Julie
To: Fiona.Grant@enron.com
Sent: Thursday, March 15, 2001 5:20 PM
Subject: energy book promotion

Fiona,
?
I've attached a letter that is going to be?sent out to some  universities,
promoting the Energy Derivative book.? Are we allowed to  mention, "...in
association with Enron Corp."?? Please see attached.
?
Should we check with you every time we would like to use "Enron Corp." when
advertising the book?? It will usually follow similar format.
?
Thanks,
Julie
?
Lacima Group
 - Covering letter for book brochures.doc


Greetings:

Well, hope your holiday was great, because I'm back with more questions.  To
change my direct deposit account, can I do that on line, or do I need to do
it by other means?  Thanks, as always, and I hope you have a great 2001.

Best,
Jeff


We have had a major scheduling mishap.    When trading for the position listed below,  we cut or increased EPMI  resource to balance the pool, rather than taking length that you purchased to load.      I wasnt aware that this was a point of confusion.  Also,   City of Austin was adjusted each hour, even though it was to be a mismatch schedule.
Mismatches dont consider volume,  it is essentially zero.
We purchased a sizeable qty of mw's yesterday and because we didnt schedule it all to load,  we wont be paid the balancing energy price,  which was large.
If no EPMI load exists on the obligation side,  then create it.

The EPMI resource represents Frontera's generation- dont play with it, unless directed to do so.

If you have questions,  please dont hesitate to ask.

Also,  dont wait until after your shift to reconstruct Enpower.   It is not going to be accurate because it wont be fresh on your mind.    It takes twice as long after the shift to enter your deals because you are tired.

Please ask me questions about the financial swap and how we are going to work together to make some serious money.

JMF

 -----Original Message-----
From: 	Forney, John M.
Sent:	Wednesday, October 31, 2001 3:18 PM
To:	Capasso, Joe; Day, Smith L.; Errigo, Joe; George Phillips; Isaac Wong; McElreath, Alexander; Miller, Jeffrey; Olinde Jr., Steve; Saibi, Eric
Subject:	VERY IMPORTANT POSITIONS FOR TOMORROW!!!

Item One
The Frontera Plant is scheduled to sell 450 mw's for tomorrow.   I sold them a financial swap @ $24 for the whole day.   For the first part of the day we will be running extremely short.   We will just  that we are having problems coming up.
This is the amount that will be short:

he7 - 420 mw's
he 8 - 420 mw's
he 9 - 420 mw's
he 10 - 315 mw's
he 11 - 230 mw's
he 12 - 22    100 mw's

I would like you to buy power for 7-11 for alot less than $24.    If you cant,  then we will take the imbalance price.   If you do buy,  purchase under the Ercot Asset book and schedule to South Zone load for the Ercot Asset book.   If you have questions,  call me.

Item Two

I purchased 99 mw's from City of Austin for tomorrow,  hours ending 7-22 under the Ercot Asset book.  I sold this power to the ST ERCOT desk for $28.75.
This power can be rescinded intraday.    WE NEED TO CALL CITY OF AUSTIN TOMORROW WELL BEFORE FLOW AND TELL THEM WE ARE NOT TAKING THESE MW'S.   THEY SUPPOSEDLEY KNOW ABOUT THIS DEAL.   THEY ARE NOT TO GENERATE.     CUT DEAL # 849947 IN ENPOWER SCHEDULING AND REPLACE WITH PURCHASES UNDER ERCOT ASSET.
We will either purchase 100 mw's balday (well below $28.75) or take the pool price.
For the hours that are filled by the pool,  I need a purchase from Ercot Imbalance (under Ercot Asset book),  zero price and mk-mkt flag set to "no."

Obviously,   the market will be short tomorro, especially in the morning.   Purchase at least some megawatts for tomorrow,   but dont give away our position.
Maybe we could import from the East.  That would be great.    If you left us short for  100 mw's 12-22,  that would be cool.   We can take care of that.

FRONTERA NEEDS TO BUY 50 mw for hour ending 2300 to cover Mirant sale for the last hour.     Purchase under the Teco Service book and sell to Frontera under Teco Services book.   In Portal,  we would enter a purchase from X  and we should balance against an existing Mirant sale for hour ending 2300.   Cut the Frontera 50mw in the Portal so we will balance.

Call if you have questions,

JForney


In our ongoing effort to continually improve the Dashboard, the following
items have been changed or added:

A) Changes to the Navigation Bar and Notices:

? Personalize button has moved - the personalize button is now located on the
navigation bar
? Gas Daily and Inside FERC  - these two links have been replaced with one
link named Online Publications.
? NNG and TW Notices  - Non-critical notices have been added to the streaming
notices at the top of the dashboard.  Notices now include critical notices,
allocations, capacity constraints and maintenance.  Critical notices will be
displayed in a red font.

B) Additions to the Navigation Bar

? eHRonline  - is a new a link on the navigation bar.

C) New Categories for your personalized portal window:

? Revenue Management   - a new category with five links to revenue management
and business economics information sites.
? ET& Weekly Updates - View earnings estimates, weekly status reports and
other items and stories from various ET&S departments.
? Morning Meeting Reports - this category contains links to Gas Control's
North, South and Central regions reporting area.

To add these new categories to your dashboard simply click on the personalize
button, highlight the new available category in Pane 1 (left), Pane 2
(center), or Pane 3 (right) and click on the add button.  This action will
move this category from available to the bottom of the selected categories.
If you would like to change the order within a pane you click on the selected
category then move it up or down using the arrows to the right of the
selected categories pane.  You then click save to exit the personalize screen
and return to the dashboard.

If you have any problems or questions please contact Bobby Mason @ (713)
853-5196 or Martha Janousek @ (713) 853-7275.


We will be running a December MTD DPR tomorrow.  Before we start this process please recalc the East, West, Eastbank, & Westbank portfolios to AdHoc.  Check one more time that only terminated counterparties are in the Bank portfolios and all terminated counterparties are out of the East and West portfolios.

Before kicking off the calcs, double check the specific deals that are listed on the Physical Power Terminated spreadsheet.  I believe there were whole deals moved to the Bank portfolios by Will that should never have been moved, because they were already liquidated in November.  Also, I have attached a new copy of the physical terminations.  There is one counterparty (TXU) added to the list that we need to take care of before kicking off the calcs.  In addition to adjusting deal entry for TXU we also need to adjust scheduling.

Before recalcing the Bank portfolios, please contact Debbie Brackett or Stephanie McGinnis (4-2022) to make sure that they have extracted the data they need from the portfolios.

We should still be calcing on 'No True-up'.  Casey, I know you said this probably will still cause us trouble.  At this point, we are going for reasonableness with numbers.  All the previous top-levels in our rolls (as of the 3rd or 4th) will stay as top-levels until we know the exact amount of cash that is being attributed to power.  The remaining prior day values will be held in Schedule E for Georgeanne to move to a balance sheet account.  These top levels should match the total value of your Bankruptcy portfolios.  Where I think it will get tricky is that we are calculating as of the 18th and have transactions in the Bankruptcy portfolio that are before the 18th and therefore will fall into your liquidations.  These numbers will also have to moved to Schedule E.

When running through liquidations in the East and West portfolios, we will not be flat.  Currently, we are liquidating all non-terminated counterparties other than those specifically negotiated out of by scheduling.  (Thresa and I are working on this with Corry and Cara).  The settlements group will figure out what the counterparty agrees with through the check-out and ultimately the clean-up process.

Tomorrow should be a blast - I can't wait!!!

Stacey


Start Date: 4/24/01; HourAhead hour: 12;  No ancillary schedules awarded.
Variances detected.
Variances detected in Generation schedule.
Variances detected in Load schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001042412.txt

---- Generation Schedule ----
$$$ Variance found in table tblGEN_SCHEDULE.
     Details: (Hour: 12 / Preferred:   0.00 / Final:   0.00)
  TRANS_TYPE: FINAL
  SC_ID: EES
  MKT_TYPE: 2
  TRANS_DATE: 4/24/01
  UNIT_ID: BADLND_7_PL1X2

---- Load Schedule ----
$$$ Variance found in table tblLoads.
     Details: (Hour: 12 / Preferred: 133.85 / Final: 133.30)
  TRANS_TYPE: FINAL
  LOAD_ID: SDG1
  MKT_TYPE: 2
  TRANS_DATE: 4/24/01
  SC_ID: EPMI


Kevin,

Here are the rates that we came up with.  Please keep in mind that we may not have 200,000/d available capacity at certain interconnects.  Also, because of the California problems, we have been able to extract additional value for volumes delivered to El Paso Waha.  Let me know if you need additional information.

 -----Original Message-----
From: 	Hyatt, Kevin
Sent:	Wednesday, July 25, 2001 1:00 PM
To:	Nielsen, Jeff
Subject:	RE: Mid 4 to Mid 3 Quote

Jeff, can you fill in the rates for the 5,7, and 10 year terms for me.  These would be notional of course.  Let me know if you have questions.
thx
Kevin
713-853-5559

Term/yrs.	2	5	7	10
Demand:
Firm*	$.02 - .03	$.04-.05	$.06-.07	$.07-.08
TI	$.035 - .045	$.065-$.075	$.075-.085	$.095-.105

Volume is min. 0 to max of 200,000/d
* plus minimum commodity
Primary to El Paso Waha would be slightly higher
Rates are plus fuel

 -----Original Message-----
From: 	Nielsen, Jeff
Sent:	Monday, July 23, 2001 4:39 PM
To:	Hyatt, Kevin
Subject:	Mid 4 to Mid 3 Quote

Kevin,

Jo Williams said that you needed a quote for transportation from Mid 4 to Mid 3 in the Waha area.  On a firm basis we would be would in the $.02 to $.03 demand range plus minimum commodity.  For a TI rate use between $.035 and $.045.  If you would like primary to El Paso Waha, that rate would be a little higher.  We have been able to get additional value out of that interconnect because of the gas prices in California.  Please let me know if you need any additional information.

Jeff  402-398-7434


fyi, rick
---------------------- Forwarded by Rick Buy/HOU/ECT on 11/21/2000 11:02 AM
---------------------------

David W Delainey
11/21/2000 09:53 AM
To: Rick Buy/HOU/ECT@ECT
cc: Rebecca Carter/Corp/Enron@ENRON
Subject: Board Meeting

Rick, I need your view on which of these deals need to go through the board:

 - Tex Mex (ERCOT to Mexico transmission line with term PPA with Desarco)
 - Ahlstrom (QF Purchase)
 - CRRA/Fuel Cell Energy (fuel cell deal with Conn. regulators)
 - sale of Pastoria and LV Cogen (assume not)
 - sale of ECP (assume not)
 - sale of HPL (assume not).

Regards
Delainey


Work with Linda to finalize

	Alan Comnes@ECT
	02/06/2001 05:44 PM

		 To: Steven J Kean/NA/Enron@Enron
		 cc: James D Steffes/NA/Enron@Enron, Paul Kaufman/PDX/ECT@ECT, Tim
Belden/HOU/ECT@ECT, Mary Hain/HOU/ECT@ECT, Linda Robertson/NA/Enron@ENRON,
Christi L Nicolay/HOU/ECT@ECT, Steve Walton/HOU/ECT@ECT, Jeff
Brown/NA/Enron@Enron, Charles Yeung/HOU/ECT@ECT
		 Subject: Re: Letter re: Information Release

Steve,

This is a third draft of a letter to Wyden re: information release.  The
latest draft incorporates comments of Tim Belden and Jim Steffes.

Who do you recommend I work with to get this letter finalized?

Alan Comnes


Start Date: 3/4/01; HourAhead hour: 14;  No ancillary schedules awarded.
Variances detected.
Variances detected in Energy Import/Export schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001030414.txt

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

  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 3/4/01
  TIE_POINT: PVERDE_5_DEVERS
  INTERCHG_ID: EPMI_CISO_SCOUT
  ENGY_TYPE: WHEEL
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 3/4/01
  TIE_POINT: SYLMAR_2_NOB
  INTERCHG_ID: EPMI_CISO_SCOUT
  ENGY_TYPE: WHEEL
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 14 / Preferred:   0.00 / Final:   0.00)
  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 3/4/01
  TIE_POINT: PVERDE_5_DEVERS
  INTERCHG_ID: EPMI_CISO_MAR4
  ENGY_TYPE: FIRM


No biggie, and understandable.  When we sell the equipment we structure it
like we did on the CA deal - we sell the special purpose companies that will
own the equipment at the time of sale.

	From:  Kathleen Carnahan                           02/22/2001 04:37 PM

To: Kay Mann/Corp/Enron@Enron
cc:

Subject: Re: Form of Letter Agreement for Purchase of Membership Interests &
Draft CA for Northwestern Corp.

I will be happy to conform the NW to this form if that is what you want.  In
the form with the paragraph below, I thought "(i) the potential sale of one
or more of the Protected Party's power plant development projects and/or one
of more of the special purpose companies which own such projects in [states]"
 was to be used for particular sites where we have existing land options we
are trying to sell, and that when we were trying to sell equipment (i.e.
7EA's) we would refer to these as "gas fired electric generation projects"

My mistake.

Kathleen

Kay Mann
02/22/2001 04:15 PM
To: Kathleen Carnahan/NA/Enron@Enron
cc:

Subject: Re: Form of Letter Agreement for Purchase of Membership Interests &
Draft CA for Northwestern Corp.

The form we have has this as the first paragraph, which is different from the
form attached.  Could you conform the NW one to the form?

Enron North America Corp. (&ENA8 or the "Protected Party") is prepared to
furnish [__________________] (&*8 or the "Receiving Party") with certain
information which is either confidential, proprietary or otherwise not
generally available to the public in connection with: (i) the potential sale
of one or more of the Protected Party's power plant development projects
and/or one of more of the special purpose companies which own such projects
in [states],  (collectively, the &Projects8) for purposes of evaluating one
or more transactions between Protected Party and   * involving the Projects
(collectively, the &Proposed Transaction8).


Looks good.  certainly an area we need more focus on.  Obviously the most
important aspect of lng is how much gas is coming in, what is that relative
to last year, and what new capacity is coming longer term.
As an aside, nat gas trades as a funciton of the storage spread to last year
and five year averages.  It would be very useful if all fundamental analysis
were geared the same way.  The fact that lng shipments are x this week is
meaningless.  the fact that they are y delta of last year is extremely
useful.  if you noticed in the fundies meeting, i was trying to move
discussion that way.  what's switching vis a vis last year.   whats
production relative to last year.  it simplifies the fundamental analysis.

From: Jennifer Fraser/ENRON@enronXgate on 03/12/2001 05:46 PM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: FW: LNG Weekly Update

An initial effort--please comment


THE ECONOMIC TIMES
Monday, 21 MAy, 2001,http://www.economictimes.com/today/21econ02.htm
MSEB to slap yet another penalty on DPC

THE ECONOMIC TIMES
Monday, 21 MAy, 2001,http://www.economictimes.com/today/21econ04.htm
Dabhol project suffers $400-m cost overruns, Anto T Joseph

BUSINESS STANDARD
Monday, 21 MAy, 2001,http://www.business-standard.com/today/economy7.asp?Menu=3
DPC faces fresh Rs 400-crore penalty

THE FINANCIAL EXPRESS
Monday, 21 MAy, 2001, http://www.financialexpress.com/fe20010521/top3.html
MSEB plans to dispute PTN validity ,   Sanjay Jog

THE FINANCIAL EXPRESS
Monday, 21 MAy, 2001,http://www.financialexpress.com/fe20010521/news3.html
Govt, MSEB keen to probe role of IDBI in issue of Dabhol PTN,  Sanjay Jog

THE TIMES OF INDIA
Monday, 21 MAy, 2001,http://www.timesofindia.com/today/21busi5.htm
MSEB to slap yet another Rs 400 cr penalty on DPC

THE TIMES OF INDIA
Monday, 21 MAy, 2001,http://www.timesofindia.com/today/21busi6.htm
Maharashtra working on ways to avoid Enron penalty

THE ASIAN AGE
Monday, 21 MAy, 2001, http://www.asianageonline.com/
MSEB PLANS RS 400-CR PENALTY ON DABHOL

THE ASIAN AGE
Monday, May21, 2001, http://www.asianageonline.com/
Enr-off?

THE AFTERNOON
http://www.afternoondc.com/
'CENTRE SHOULD SORTOUT ENRON CRISIS'
Bhujbal puts Suresh Prabhu on the mat

THE ECONOMIC TIMES
Monday, 21 MAy, 2001,http://www.economictimes.com/today/21econ02.htm
MSEB to slap yet another penalty on DPC

UNDETTERED by issuance of the preliminary termination notice by Enron-promoted Dabhol Power Company, the Maharashtra State Electricity Board has decided to go ahead with its decision to slap yet another Rs 400-crore penalty on the US energy major. "PTN or no PTN. In June first week, MSEB will slap one more Rs 400-crore penalty on DPC for misdeclaration and default on the availability of power, a review for which will be taken next month," MSEB sources said here on Sunday. The proposed penalty is in wake of DPC's inability to produce power on February 12 and March 13 as per MSEB's demand in stipulated time of three hours as per the power purchase agreement, they said.                                         "In fact, we would pay the Rs 139-crore April bill on May 23 and this will be the last payment from MSEB's side, rest of the due amount should be adjusted in the penalty," the sources added. MSEB follows a four month cycle, the first instance of failure on January 28 fell in the first cycle, while the other two instances fell in the next cycle of February-May, a bill for which would be prepared and despatched to DPC in June, the sources said. (PTI)

THE ECONOMIC TIMES
Monday, 21 MAy, 2001,http://www.economictimes.com/today/21econ04.htm
Dabhol project suffers $400-m cost overruns, Anto T Joseph

AS IF the current dispute with the Maharashtra government was not enough, the Dabhol project now has to deal with cost overruns. The Enron-promoted Dabhol Power Company has experienced a cost overruns to the tune of $400 million, taking the total project cost to $3.3 billion. DPC, which issued a preliminary termination notice to Maharashtra State Electricity Board on Saturday (May 19), is in a fix as both domestic and offshore lenders have refused to increase their exposure in the controversial power project, the largest-ever foreign direct investment, so  far, in India. After Indian lenders stopped disbursements as a fallout of a long payment crisis, DPC is believed to have scouted for foreign debt, albeit unsuccessfully, to maintain the debt-equity status quo at 70:30 ratio. DPC's issuance of PTN has compounded the problem. According to the power purchase agreement between the MSEB and Enron, issuing a PTN would mean fixing a deadline of six months for pulling the final plug on the project. "As of now, the FIs have held back $250-million debt to the project. Once the PTN is served, DPC can't expect lenders to make any more disbursements, and it has almost sealed the fate of the project," said a financial institution source.

While the 740-mw phase I is operational, the second phase of 1,144 mw was expected to be fully operational by the year-end. One unit of 740 mw (part of the second phase) is undergoing trial-runs, and was expected to be commercially operational in June. Sources said the huge cost overruns had been a major deterrent in project completion. Worried by the mounting payment defaults, the EPC (engineering, procurement and construction) contractor of the project -- Bechtel - is  believed to have threatened to pull out of the project by  mid-June. The cost overruns stem from devaluation of the rupee vis-a-vis the dollar and an increase in equipment cost. Indian FIs are now wary of further cost overruns owing to the delay in project execution. "Indian FIs, who have contributed 40 per cent of $2.9 billion (earlier project cost), had refused to take more exposure.

DPC was forced to approach foreign lenders for raising funds to cover the cost overruns. They have also taken a negative stand," said sources. The ABN-AMRO led offshore consortium is believed to have refused to contribute any more debt to the project. The only way out for DPC is for the promoters to increase  their equity contributions. Proportionately, Enron, which holds around 65 per cent in DPC, will have to shell out a  major chunk if this were to happen. DPC's move to issue PTN has considerably irked Indian institutions. Lenders were planning to cast a confidential vote on PTN this week. However, armed with the required mandate from offshore lenders, DPC went ahead and issued the PTN.

BUSINESS STANDARD
Monday, 21 MAy, 2001,http://www.business-standard.com/today/economy7.asp?Menu=3
DPC faces fresh Rs 400-crore penalty

The Maharashtra State Electricity Board has decided to go ahead with its decision to slap yet  another Rs 400-crore penalty on the Dabhol  Power Company, undeterred by the issuance of a  preliminary termination notice (PTN) by the  latter. "PTN or no PTN, in the first week of June MSEB will slap one more Rs 400-crore penalty  on the DPC for mis-declaration and default on the availability of power, a review for which will  be taken next month," MSEB sources said here Sunday. The proposed penalty is in the wake of DPC's inability to provide power on February 12 and March 13, as per MSEB's demand in the stipulated time of three hours (according to the   power purchase agreement (PPA) guidelines), they said. "In fact, we will pay the Rs 139-crore April bill on May 23 and this will be the last payment from  MSEB's side. The rest of the due amount should be adjusted in the penalty," sources added. MSEB follows a four-month cycle, the first instance of failure on January 28 fell in the first cycle, while the other two instances fell in the next cycle of February-May, a bill for which would be prepared and despatched to the DPC in June, MSEB sources said.

Earlier, MSEB had slapped a Rs 401-crore penalty on DPC for "not generating" required power to meet the demand on January 28. DPC had yesterday issued a PTN to MSEB,  saying the loss-making board, the state  government and the Centre had failed to meet their contractual obligations and therefore it had  no choice "but to issue the notice." Meanwhile, DPC is also attending the next meeting of the Godbole panel on Wednesday.

Enron India managing director Wade Cline confirmed that the power company has not  closed its doors to negotiate a satisfactory  solution. But state government officials said the onus of finding a workable solution is now with the Centre, which has to spell out its position on the  offtake of power from phase-II of the project. The Central government nominee on the Godbole  committee, AV Gokak, is to attend deliberations  for the first time this Wednesday. State officials attach great importance to his presence as he is likely to spell out Centre's view on the whole affair. A state official told Business Standard that DPC had indicated its willingness to renegotiate the tariff structure at its first presentation beforethe Godbole Committee. The sole thorn now is the offtake of power from phase-II of the project. Maharashtra Chief Minister has said on Saturday that the state cannot afford to draw power from phase-II.

So the issue is now to clear the decks for third parties to buy out power from the second part of the project. "This is an issue that is in the Centre's realm, though there have been some statements that no central utility is in a position to buy power from  Dabhol. DPC is willing to talk to lower its tariffs  but we are not in a position to buy any of it even though we are contractually bound to buy it. Sothe solution lies in allowing others to buy it," the official said. A senior MSEB official also denied the Board  was planning to issue a counter termination notice to the DPC.

THE FINANCIAL EXPRESS
Monday, 21 MAy, 2001, http://www.financialexpress.com/fe20010521/top3.html
MSEB plans to dispute PTN validity ,   Sanjay Jog

The Maharashtra State Electricity Board (MSEB), in a bid to put up a brave front, proposes to dispute the validity of the Preliminary Termination Notice (PTN) served by the Dabhol Power Company (DPC) and take up the issue at the dispute resolution panel. Simultaneously, MSEB has denied that it has repudiated the power purchase agreement (PPA) as claimed by the DPC. MSEB has also rejected DPC's claim over its failure to meet contractual obligations. The MSEB, after consulting the state advocate general, lawyers and the state government, may serve a notice with respect to the dispute over the PTN to the DPC, as per clause 20.2 of the PPA.

According to the provisions of clause 20.2, a dispute would be referred to the dispute resolution panel comprising of one or two high-level representatives from the MSEB and the DPC. DPC had earlier served a notice with respect to disputes over the payment of arrears towards the November and December bills and interest thereon on January 25 this year. Accordingly, a dispute  resolution. MSEB plans to dispute PTN validity panel comprising Enron India managing director K Wade Cline and MSEB accounts member A Krishna Rao was set up. Although the panel had held a series of meetings, it failed to arrive at an acceptable solution. MSEB sources told The Financial Express that it cannot accept the PTN at this point of time, especially when the renegotiation process had been launched. Further, according to MSEB, it had not defaulted, neither had it avoided the payment of bills, but for certain disputes and thus, the PTN is disputed.

MSEB sources said that if the DPC rejects its claim on disputes over PTN, then it was prepared to fight it out at the arbitration. "However, it needs to be legally studied whether, at a time, how many cases could be referred to arbitration. In fact, DPC has already initiated arbitration by serving notices to the Centre on April 4 and to the Maharashtra government and the MSEB on April 10 over the non-payment of the December 2000 and January bills," these sources added. The MSEB reiterated that the outstanding amount of the December bill (Rs 102 crore) and the January bill (Rs 111 crore) is not payable. Instead, it claimed that the DPC, inter alia, is entitled to pay Rs 401.6 crore to the MSEB towards rebate charged for "misdeclaration and default on the availability of power on January 28." The disputes and differences have cropped up with regard to this payment and the same has been referred to the arbitration and the pending resolution. The MSEB said that pending the said resolution as to whether the amount is "payable" to MSEB by  the DPC, the latter cannot expect the payment of December and January bills by the MSEB.

THE FINANCIAL EXPRESS
Monday, 21 MAy, 2001,http://www.financialexpress.com/fe20010521/news3.html
Govt, MSEB keen to probe role of IDBI in issue of Dabhol PTN,  Sanjay Jog

The Maharashtra government and the  Maharashtra State Electricity Board (MSEB) are curious to know   the role played by the Indian rupee lenders' consortium leader Industrial Development Bank of India (IDBI) in the issuance of  preliminary termination notice (PTN) by the Dabhol Power Company (DPC). The sources in Mantralaya and MSEB told The Financial Express that if Industrial Development Bank of India, which has provided a guarantee of Rs 3,000 crore to dollar loans and also lent Rs 1,780 crore for Dabhol phase-I and II, along with offshore lenders has voted in favour of authorising DPC to issue PTN to MSEB, then it  must have received blessings from the BJP-led government at the  Centre. The Centre's nod is a must as IDBI is still a state-run organisation.

If Industrial Development Bank of India, which had voted against the proposal to authorise Enron India managing director K Wade Cline for issuing PTN at DPC's board meeting held in London on April 25, has opposed the PTN  decision, then it should be questioned as according to the agreement between DPC and its lenders,  the preliminary termination notice cannot be issued if a single 'secured creditor' voted against it. The sources are of the view that if IDBI has remained consistent and opposed the decision on issuance of PTN, then the validity of the issuance of PTN would be questioned on the basis of a lending agreement between various lenders and DPC. "We are keen to know whether IDBI has opposed this move," the sources said.

Further, the sources said the IDBI should have blocked the move to issue the PTN as the high stakes of Indian financial institutions and banks have been involved in the Dabhol project. However, sources of Indian Financial Institutions (IFI) have contradicted the state government and MSEB and said that offshore lenders control the decision relating to termination of the power purchase agreement (PPA) "if they hold at least 4 per cent of the total principal debt." "Overseas Private Investment Corporation, USA alone or the rest of Dabhol phase-I foreign banks group have such  requisite voting percentage. In this situation, if they issue the consent to DPC for serving preliminary termination notice, consent from other lenders including IFIs would not be necessary," sources added. The sources said that the IFIs, which have a massive exposure of Rs 5,154 crore, have no protection of the Government of India counter guarantee. However, the Dabhol phase-I offshore lenders are protected under the guarantee of the Maharashtra government and the Centre's counter guarantee.

THE TIMES OF INDIA
Monday, 21 MAy, 2001,http://www.timesofindia.com/today/21busi5.htm
MSEB to slap yet another Rs 400 cr penalty on DPC

Undettered by issuance of the preliminary termination notice (PTN) by Enron-promoted DabholPower Company, Maharashtra State Electricity Board (MSEB) has decided to go ahead with its decision to slap yet another Rs 400 crore penalty on the US energy major. "PTN or no PTN. In June first week, MSEB will slap one more Rs 400 crore penalty on DPC for misdeclaration and default on the availability of power, a review for which will be taken next month," MSEB sources said here on Sunday. The proposed penalty is in wake of DPC's inability to produce power on February 12 and March 13 as per MSEB's demand in stipulated time of three hours as per  the Power Purchase Agreement (PPA), they said."In fact, we would pay the Rs 139 crore April bill on May 23 and this will be the last payment from MSEB's side, rest of the due amount should be adjusted in the penalty," sources added.

MSEB follows a four-month cycle, the first instance of failure on January 28 fell in the first cycle, while the other two instances fell in the next cycle of February-May, a bill for which would be prepared and despatched to DPC in June, MSEB sources said. Earlier, MSEB had slapped a Rs 401 crore penalty on DPC for "not generating" required power for January 28 demand. The matter has been disputed since, as DPC has refused to ascertain the validity of MSEB's claim, MSEB sources said, adding the matter is now under arbitration, process for which would commence soon. MSEB sources said, contrary to the allegations made by DPC, the dispatch instructions were in line with the PPA provisions and there were no procedures previously agreed or followed about declaration of availability and delivery of dispatch instructions during the start-up of the "cold plant".

"The instructions are revised for only those hours for which there were no instructions earlier," they said, adding in the past DPC was able to achieve the instructed capacity at the specified hour. "We also fail to understand that why DPC is not accepting the fact that its machines and technology is substandard and that the Dabhol Power Project will  never be able to reach 95 per cent capacity," the sources  said. DPC had on Saturday issued a PTN to MSEB as the loss-making board, state government and Centre had failed to meet their contractual obligations and therefore it had no choice "but to issue the notice". (PTI)

THE TIMES OF INDIA
Monday, 21 MAy, 2001,http://www.timesofindia.com/today/21busi6.htm
Maharashtra working on ways to avoid Enron penalty

Maharashtra is working out a strategy to avoid paying huge damages to US power major Enron if its subsidiary, the Dabhol Power Company (DPC), axes its power purchase agreement with the state electricity board.Chief Minister Vilasrao Deshmukh, Nationalist Congress Party (NCP) leader Sharad Pawar and senior                                         bureaucrats have been huddled in discussions with legal experts since DPC issued a pre-termination notice on the  board on Saturday. "The governments of Maharashtra and India would face  lawsuits to the tune of Rs 170 billion," an official said. With New Delhi providing counter guarantees for the project, it threatens to be a liability for the entire country.

Maharashtra has already begun to cover its flanks by charging DPC with providing insufficient services and installing substandard equipment to prevent its facility from generating 95 percent power. A penalty of Rs 4.01 billion was slapped on the company last month for not providing power to MSEB at a notice of three hours. A notice for a similar penalty would be sent in June as well, officials here said.MSEB officials have been quoted as saying that no bills would be paid to the company after the April bill of Rs 1.39 billion. The bills for the remaining months would be adjusted against the penalty. With Enron hardening its stand, it is possible the company could stop power supply from June, they indicated.Although the DPC has issued the preliminary termination notice, the actual process of terminating the PPA could take as long as six months. "This initiates the process of terminating the power purchase agreement with the Maharashtra State  Electricity Board (MSEB)," DPC said in a statement.Simultaneously, it said it was open to "constructive" negotiations on the issue.

The DPC is demanding that the Central government participate in the negotiations between Enron and MSEB or provide credit support to purchasers of its power as a pre-condition to talks. "While a lasting and feasible solution to this issue may be possible, it can only occur if the parties contractually bound to purchase DPC power (MSEB with guarantees from state and central government) are willing to either purchase themselves or find "other" creditworthy entities," the company said. Enron also said the report of committee on renegotiating the power purchase agreement should not be the basis for discussions.

The stalemate in the $3 billion project follows the Maharashtra government disputing payments for power  purchased by the MSEB from the DPC. The government cleared its February and March outstanding of Rs 1.13 billion and Rs 1.34 billion respectively but under protest. The DPC currently produces 740 MW of power. This will go up to 2,184 MW when the second phase of the project goes on stream later this year. (IANS)

THE ASIAN AGE
Monday, 21 MAy, 2001, http://www.asianageonline.com/
MSEB PLANS RS 400-CR PENALTY ON DABHOL

Undettered by issuance of the preliminary termination notice by the Enron-promoted Dabhol Power Company, the Maharashtra State Electricity Board has decided to go ahead with its decision to slap yet another Rs 400-crore penalty on the US energy major. "In June first week, MSEB will slap a penalty of Rs 400 crores on DPC for misdeclaration and default on availability of power, a review for which will be taken next month," MSEB sources said. The proposed penalty is in wake of DPC's inability to produce                   power on February 12 and March 13 as per MSEB's demand in stipulated time of three hours as per the power purchase agreement, sources said. "In fact, we would pay the Rs 139 crores April bill on May 23 and this will be the last payment from MSEB's side, rest of the due amount should be adjusted in the penalty," sources added. MSEB                   follows a four-month cycle, the first instance of failure on January 28 fell in the first cycle, while the other two instances fell in the next cycle of February to May, a bill for which would be preparedand despatched to DPC in June, MSEB sources said.

Earlier, MSEB had slapped a Rs 400 crores penalty on DPC for "not generating" required power for January 28 demand. The matter has been disputed since, as DPC has refused to ascertain the validity of MSEB's claim, MSEB sources said adding the matter is now under arbitration, process for which would commence soon. MSEB sources said, contrary to the allegations made by DPC, the dispatch instructions were in line with the PPA provisions and there were no procedures previously agreed or followed about                   declaration of availability and delivery of dispatch instructions during the start-up of the 'cold plant.'"The instructions are revised for only those hours for which there were no instructions earlier," they said adding, in the past DPC was able to achieve the instructed capacity at the specified hour. "We also fail to understand that why DPC is not accepting the fact that its machines and technology is substandard and that the Dabhol Power Project will never be able to reach 95 per cent capacity," the sources said.DPC had on Saturday issued a PTN to MSEB as the loss-making board, state government and the Centre had failed to meet their contractual obligations and therefore it had no choice 'but to issue the notice.' (PTI)

THE ASIAN AGE
Monday, May21, 2001, http://www.asianageonline.com/
Enr-off?

With the Dabhol Power Company issuing a pre-termination notice, it should now be reasonably certain that Enron, the controversial power project, will wind up its operations in Maharashtra. It is indeed doubtful that the influential political lobby which ushered the US giant in amid great controversy will be able to do much this time. The series of renegotiations have failed, last minute attempts to humour Mr Sharad Pawar have failed and the lobby which had helped Enron to hype its deal has been surprisingly silent. In the short run, the state will have to pay a price for the withdrawal; in fact, Enron was hoping that precisely that will  happen and the government will develop cold feet.

But with the Centre now washing its hands off the deal, any amount of economic "diplomacy" and bargaining is unlikely to succeed. As the curtain comes down on one of India's most  controversial deals involving a multinational corporation, it is  time that the matter is looked at afresh. This does not mean that the conscious project be reviewed. What it does mean that the experts who for various reasons opposed the project in the first place should be consulted by the state government. At the same time, Mr Deshmukh should ensure that those who have been votaries of the project do not become victims of recrimination. Six months that have been stipulated for a last-ditch attempt to save a project which promised much, can have meaning only if Enron is willing to come down from its high horse. But as reports from its parent country amply show, Enron is trying to woo US lawmakers in an era of deregulation.

Energy executives of Enron spent close to 30 minutes with Mr Dick Cheney, a privilege which essentially exemplifies the importance of being Enron. But this importance should not be overstretched, and a large section in the Indian power establishment thinks so. Enron wields no magic wand, but its leading status as a power-sector giant is not to be doubted. Be that as it may, its Indian experience has been a far from happy one. Political opportunism may have queered the Indian picture, but it's primarily the Enron strategy to first target and then control markets. Its "insurgent" strategy sometimes works. At other times, it does not. In the Indian experience, it has not quite worked. The story that the friends of Enron had deliberately circulated- that other MNCs will think twice before investing in India if Enron fails, have been proved unfounded. Enron may have registered phenomenal growth over the years, but that by itself was never any guarantee that its Indian bid would too, especially with conflicting political positions dogging its high  cost per unit power.

The end of Enron is by no means the end of the world. A few comparable examples would empirically sustain the fact that it is not impossible to live without Enron, whatever its high-profile supporters would suggest. The Maharashtra government needs Central and overall support in facing the crisis it is in, though the support may merely be a moral one. The late Rangarajan Kumaramangalam used to bemoan the  absence of a realistic and long-term policy for the power sector.The unhappy Enron example should make the Central and state governments to thrash out a cohesive, constructive policy. At the peak of summers, the absence of a genuine policy further complicates infrastructural and other constraints. That is such an elementary fact anyway.

THE AFTERNOON
http://www.afternoondc.com/
'CENTRE SHOULD SORTOUT ENRON CRISIS'
Bhujbal puts Suresh Prabhu on the mat

In the backdrop of the ongoing tussle between the state and the Dabhol Power Company (DPC), Mr. Madhav Godbole, chief of the renegotiating committee of the                                        government, is silent about latest  developments. "Negotiations are on at this  moment so I am not speaking to the  press," said Mr. Godbole. The committee was set up last month to find a solution to the crisis. When asked why the DPC is opposed to a Power Purchase Agreement (PPA),   he said, "It is anybody's guess." Deputy Chief Minister Chhagan Bhujbal charged the Centre with being indifferent towards the ongoing Enron imbroglio.

In an interview to a leading news channel yesterday, Mr. Bhujbal said that the National Democratic Alliance government, especially Power Minister Suresh Prabhu, should have intervened to sort out the crisis which is putting the state on the verge of bankruptcy. "Apart from being a union minister, he has a moral responsibility to-wards Maharashtra. Moreover, the second phase of Enron was also approved by the then Shiv Sena-Bharatiya Janata Party government. So he cannot wash his hands off when the state is heading towards serious problems," said Mr. Bhujbal.

Mr. Bhujbal, who also holds the state home portfolio, said that central government intervention had become all the more necessary as it stood as a guarantor in the agreement. Meanwhile, in a counter to the arm-twisting tactics of the DPC, the Maharashtra State Electricity Board has planned to take the  company to court in lieu of them seeking compensation for loss  incurred due to inadequate power supply.


Ike, thanks for the letter on Friday.  The team is preparing an analysis on
where we have flexibility and preparing a response.  We should be able to
respond before the end of the week.

Thanks
Dave Delainey


Hey homes,

Not going to be here this weekend after all.. I am taking a last minute getaway to yes RIO for the weekend and few days next week.  It's tough but someone has to do it!!

We can hook up next time..

PS I will drink a few Caparinhas for ya!  Haha

PT

 -----Original Message-----
From: 	christopher.lewis@accenture.com@ENRON
Sent:	Friday, August 24, 2001 11:28 AM
To:	Thomas, Paul D.
Subject:	RE: Labor Day weekend

Well then mark your calendar because it looks like I'm gonna be hitting
H-town full force the weekend after Labor Day (too much lake time to pass
up in Austin Labor Day weekend).

Don't be scared...

CL

            Paul.D.Thomas@enron.c
            om                           To:
                                         IMCEANOTES-christopher+2Elewis+40accenture+2Ecom+40ENRON@enron.com
            08/24/2001 04:27 AM          cc:
                                         Subject:     RE: Labor Day weekend

We will be in town homes?;

PT

      -----Original Message-----
     From:   christopher.lewis@accenture.com@ENRON

[mailto:IMCEANOTES-christopher+2Elewis+40accenture+2Ecom+40ENRON@ENRON.com]

     Sent:   Thursday, August 23, 2001 4:50 PM
     To:     Thomas, Paul D.; jonpaul.weiss@ey.com; cfalcon@ev1.net;
             jnovak1@pdq.net; peter.wisniewski@mavtech.cc
     Subject:  Labor Day weekend

     You boys gonna be in H-town Labor Day weekend?  I'm either coming in
     that
     weekend or the weekend after...

     Chris

**********************************************************************
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
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reply to Enron Corp. at enron.messaging.administration@enron.com and delete
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binding and enforceable contract between Enron Corp. (or any of its
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I have scheduled EB3143c for tomorrow, Thursday, from 11am - 12 to discuss
the TECO Frontera transaction. the dial-in # is 713-345-8847.

Jason
x37261


FYI, KIm.

 -----Original Message-----
From: 	Hass, Glen
Sent:	Thursday, October 18, 2001 11:45 AM
To:	Fossum, Drew; Fritch, Bret; Harris, Steven; Kilmer III, Robert; Lokey, Teb; McCarty, Danny; Miller, Mary Kay; Petersen, Keith; Porter, Gregory J.; Veatch, Stephen; Watson, Kimberly
Subject:	CA Capacity Report

Attached is an updated Interstate Pipeline Capacity to California Report with changes and additions highlighted.  gh


Mark:

Attached is my current workload report.  I'm beginning to get nervous about
meeting traders' expectations as I am taking vacation from June 14 - 22
(seven business days) and I don't know who will be able to pick up my
emergencies and routine issues.

I have some idea about Mary's and Frank's workload and I have the impression
that Brent is constantly busy with weather.  I'd like to briefly discuss
Cheryl's workload  I think it would be a good idea to have everyone submit a
status report of sorts to you so that you can assess how much is "project"
oriented vs. routine, specific commodity areas, and volume.

FYI, I am trying to limit Cheryl's activity with Gary's group to brokerage
agreements only.  The huge volume of activity on the brokerage end was
apparently the result of a recent audit by AA and effort to "cleanup" the
agreement status.  It should be winding down.  I have encouraged Cheryl (as
have Frank and Mary) to provide you  with a workload report since we really
want her to be trained in the swap basics.

Also, I will try to schedule a conference call with David Mitchell, you and
me before I leave (topic is online trading of credit derivatives).
Currently, only ECL is offering the bankruptcy default swap online (and no
one is hitting the product).

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


I will be taking a vacation day on August 8th, and a half day on the 9th.

thanks,

mike carson


All days listed below have been corrected.  I come up with different totals for 7/13 & 7/14.

7/13 = $ 55079.10
7/14 = $ 48932.54

Please re-check your daily totals.  My month totals for July are as follows:

Purchases:	$ 2,573,267.32
Sales:	$ 2,543,124.12

Thanks,

Diana

-----Original Message-----
From: WYNDI Workman-Rodriguez [mailto:Wyndi_Workman-Rodriguez@pgn.com]
Sent: Thursday, August 30, 2001 4:50 PM
To: DScholt@enron.com; Thompson, Virginia
Cc: Anne Snyder; BILL CASEY; Shari Johnson
Subject: July 2001

I know I'm kind of bouncing around, but since we have help, we're working on whatever we can.  The following is what has been found for July 2001, then we should be good:

7/9:  Deal #676569.1 - needs an adder of $0.10, currently shows none (PGE system).  Our day total for our sales is $82,439.88

7/13 & 7/14:  Deal #683299.1 - needs correct index (not NF) of OFF - - day total 7/13 = $55,054.30 & 7/14 = $48,907.74

7/23:  Deal #695822.1 - needs correct index of OFF (day tot=$184,848.56)

7/24:  Deal #697589.1 - needs correct index of OFF (day tot=$56,573.22)

7/25:  Deal #700116.1 - same as 7/24 (day total = $48,997.04)

Totals for PGE Sales:   $2,573,217.72
Totals for PGE Purch   $2,543,124.12

AND THAT'S IT !!!!

Wyndi & Anne


Heather:  can you proof this and get this ready?   Thanks.


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 01/19/2001
09:44 AM ---------------------------

Sandeep Kohli@ENRON_DEVELOPMENT
01/19/2001 05:42 AM
To: Vince J Kaminski@ECT
cc:
Subject: From the Enron India Newsdesk- Jan 18th newsclips

Vince,

FYI.
---------------------- Forwarded by Sandeep Kohli/ENRON_DEVELOPMENT on
01/19/2001 05:12 PM ---------------------------

From the Enron India Newsdesk- Jan 18th newsclips

Untie Them (Editorial)
Thursday Jan 18 2001, http://www.economictimes.com/today/18edit02.htm
------------------------------------------------------------------------------
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State not to give tax sops to DPC for buying naphtha from IOC, (Sanjay Jog)
 Thursday Jan 18
2001,http://financialexpress.com/fe/daily/20010118/fec18056.html
------------------------------------------------------------------------------
-------

Centre yet to receive proposal on Enron
Thursday Jan 18 2001, http://www.economictimes.com/today/18infr02.htm

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Untie Them (Editorial)
Thursday Jan 18 2001

THE GOVERNMENT of Maharashtra wants New Delhi to convince the Power Trading
Corporation, a central utility, to buy power from Dabhol and sell it across
the country.It would be far simpler if Dabhol  and all independent power
producers  were allowed to sell power to whoever was willing to pay for
it.That, unfortunately, is not allowed by law, which forces private sector
generators to sell power only to state utilities, which in turn, are not
permitted to sell power across states on their own.

Most state electricity boards are bankrupt . MSEB reportedly owes central
utilities Rs 5,000 crore. They cannot bring themselves to charge many types
of users for the power consumed, nor can they prevent large-scale theft of
electricity. Few, including wealthy Maharashtra, have the will to reform
state electricity boards and privatise transmission and distribution. Given
this profile of buyers, private generators demand sovereign guarantees to
help them tide over default risks. But the guarantees merely insulate IPPs
against risk. They cannot make SEBs solvent. Yet, India needs power
desperately. Maharashtra, India,s richest state, experiences power shortages
of around 2,000 MW, about a sixth of its peak needs.

Over time, the hunger for power will only grow. India cannot afford to wait
for the painful politics of SEB reform to work themselves out. The government
should bring in legislation that allows IPPs to sell power directly to paying
customers.This will free IPPs from the clutches of bankrupt monopsony buyers.
The power trading legislation will have unexpectedly happy consequences for
the government too.Once IPPs are freed from their onerous obligations to sell
power to single, mostly bankrupt buyers, their default risks will come down
substantially. New Delhi and state governments should then scrap the
guarantees that they gave IPPs in the past.
The combination of power trading, private investments in generation,
transmission and distribution, and gradual SEB reform  will create a
commercial, workable and competitive power market in India. Anything less
will be a recipe for disaster.

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State not to give tax sops to DPC for buying naphtha from IOC, (Sanjay Jog)
 Thursday Jan 18 2001

The Maharshtra government's finance department, which is striving to reduce
fiscal deficit from Rs 9,484 crore to Rs 3,484 crore by the beginning of
April this year, has expressed its inability to provide a sales tax waiver to
the Dabhol Power Company (DPC) on the procurement of 1.2 million tonne of
naphtha from the state-run Indian Oil Corporation (IOC).

Mantralaya sources told The Financial Express on Wednesday that DPC would
have to pay 4 per cent sales tax. "The government, way back in 1995, has
modified the sales tax rate to 4 per cent to discourage the import of naphtha
from Gujarat by electrical companies operating in Maharashtra. The decision
was taken with a view to encouraging electrical companies to procure naphtha
at reduced rates within the state," government sources added. Sources said
that these companies had to pay nearly 15.3 per cent sales tax on naphtha
that was procured from Gujarat. However, following their representation, the
government slashed the sales tax rate to 4 per cent.

The state finance department's opinion, which would be presented before the
state cabinet shortly in order to take a final decision, deserves special
significance especially when the state energy department and the loss-making
Maharashtra State Electricity Board (MSEB) have wholeheartedly supported the
DPC's cause and recommended the sales tax waiver. DPC, which was asked by the
Union ministry of oil and petroleum to procure naphtha within the country in
view of excess availability, in its presentation to the state government and
to MSEB, had made it clear that it would be left with no alternative but to
pass on the additional burden on the MSEB which would be ultimately passed on
to its consumers. DPC had also told the state government that it had not paid
sales tax on the procurement of naphtha from Glencore in the calender year
2000.

Sources from the state energy department and MSEB have stressed on the need
for such a waiver while expressing their inability to bear additional burden.
They have suggested that the state should reciprocate by offering a sales tax
exemption to DPC because the IOC, at the behest of the Centre, has tried to
match the international landing price of naphtha during the recently signed
memorandum of agreement with DPC. "If the state finance department sticks to
its views, it may hurt the state as a whole," sources from the state energy
department and MSEB said.DPC will procure naphtha at Rs 11,050 per ton from
IOC during the calender year 2001 as compared to the Rs 10,050 per tonne
price quoted by Glencore. The naphtha price comprises $175 per tonne free on
board (FOB), 21.8 per cent of customs duty, 5.4 per cent of sales tax and
$18.87 of premium.

DPC senior vice president Mukesh Tyagi reiterated that the company has
already made an appeal to the state government for the sales tax waiver on
naphtha in the larger interest of the consumers. "Sales tax is a pass through
and MSEB, which will have to bear the additional burden, will pass it on the
consumers," he added.
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Centre yet to receive proposal on Enron
Thursday Jan 18 2001

CENTRE on Wednesday said that it had not recevied any proposal from
Maharashtra government seeking help to solve the tangle with the Enron
promoted Dhabol Power Project relating to cost and surplus power. Asked about
the reports that Maharashtra government was sending a proposal that centre
buy surplus power from Dhabol Power Company through power trading
corporation, power minister Suresh Prabhu said "we have not received any
proposal." "We are carefully watching the situation and will await a concrete
proposal before intervening in this matter," Parbhu said on the sidelines of
greentech environment excellence awards ceremony, here. Asked whether there
was any possibility of the government asking the Power Trading Corporation to
buy power from the Dhabol Power Corporation, Prabhu replied "what will the
PTC do with the power?"

Prabhu had earlier asked the state government to study the matter before
approaching the centre for payment of dues. MSEB had earlier declined to pick
up its 15 per cent stake in phase II of the 1444 mw project. The Enron issue
has been hanging fire with the Maharashtra State Electricity Board unable to
clear the dues of DPC as a result of the skyrocketing prices of Naphtha
infact MSEB has asked DPC to backdown completely leading to a situation where
DPC has stopped production at the facility from the begining of the
month.State government has stepped in with support to the tune of Rs 114
crore to enable MSEB to clear the dues for October. MSEB dues to DPC for
November and December amount to over Rs 300 crores.


I have complete faith in you!

By the way, the guy from Star already called with corrections to their
company name, it's Starsupply Petroleum Inc.  He said he passed the agreement
on to his legal and he would be getting us comments back on Monday.

	Daniel Diamond
	03/30/2001 04:22 PM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: Re: Star Supply

I'm doing my best!  Now all I have to do is close a few of these.

Thanks,

Dan


f.y.i.

---------------------- Forwarded by Kevin G Moore/HOU/ECT on 01/07/2000 06:03
AM ---------------------------

Kevin G Moore
01/07/2000 06:03 AM
To: Tommy Garza/HOU/ECT@ECT
cc:
Subject: Re: Flat Screens

Thanks Tommy ,
The locations are correct.
EB3131B AND EB3132B.
The persons at the locations
are Trisha Tlapek and Michael Sergeev.

                                 Thanks

Also we need a computer for Roman Zadorozhny
location EB1972B.

Please inform me on this.........

                                   Kevin Moore


[IMAGE] Forums Discuss these points in the Forums:  Forexnews Forum       Technicals Live Charts Analysis available from: Cornelius Luca   J.P. Chorek   Technical Research Ltd.   Charts & News featuring Standard & Poor's       Interest Rates   US: Japan: Eurozone: UK: Switzerland:   1.75%  0.15%  3.25%  4.0%  1.25-2.25%       [IMAGE] 	 [IMAGE]  USD Holds Firm vs EuroFX, But Wavers Against JPY  January 31, 7:00 AM: EUR/$..0.8639 $/JPY..132.81 GBP/$..1.4143 $/CHF..1.7079  USD Holds Firm vs EuroFX, But Wavers Against JPY by Jes Black  At 8:30:00 AM US Dec Personal Consumption (exp -0.1%, prev -0.7%) US Dec Personal Income (exp 0.2%, prev -0.1%) US Jobless Claims (exp 375k, prev 376k) At 10:00:00 AM US Dec Help Wanted Index (exp n/f, prev 45) US Jan Chicago PMI (exp 48.5, prev 41.4)  The yen fell in European trade after ratings agency Standard and Poor warned about the state of the Japanese economy and raised the prospect of another sovereign downgrade. But the decline was short-lived after USD/JPY spiked to a day's high of 133.22 and then fell back to key support around 132.65 afterwards. EUR/USD also rose to a high of 114.88, but today's comments from S?were not enough to stem more corrective buying in JPY.  S&P's announcement was the major news in today's European session, but had little effect on the yen. Recently, an S?official described Japan's banking system as  technically insolvent  and the market now recognizes that Japan will have to do something about its problem loan situation. The S?also said that Japan's economic stagnation has turned into a worrisome deflationary recession with no sign of upturn. And, further delay in structural reform or economic recovery will increase possibility of sovereign downgrade.  USD/JPY fell after it failed for a second time in two days to break resistance at 133.20. This follows Monday's failed attempt at 135.00 and the dollar is now looking to test trendline support from the November low of 119.70 which currently lies around 132.55. The pair must maintain above this level to avoid further corrective losses in USD/JPY. But this is unlikely if the pair moves sideways and a break of 132.50 would see a further move to 132.00 followed by 131.00. Key support stands at 129.10, which marks the 38.2% retracement of the 119.70 to 134.95 move. Meanwhile, the upside is capped at 133.20 and 133.60.  JPY has benefited recently from a letup by Japanese officials chiming in unison about yen weakness. Another point of contention this week will be whether the G7 meeting in Toronto and the World Economic Forum in New York become a sounding board for big global interests to bash the recent resurgence in the dollar against the yen. Manufacturers, like GM on Wednesday, are likely to complain that the state of the economy is now about at the same level just prior to the September 11 attacks, but the USD/JPY is trading near 40-month highs.  Meanwhile, the dollar was steady against European majors and recouped some of yesterday's losses against the pound after the US Federal Reserve kept its key interest rate unchanged at 1.75% and maintained its easing bias. The positive response by Wall Street was supportive of the dollar, especially given the recent Enron ripple effects felt on Tuesday's sell off of US equities. The dollar also rebounded sharply after US Q4 GDP rose 0.2% q/q, beating estimates of a second consecutive negative quarter. This showed the US has avoided a technical recession and the Fed's supportive remarks were bullish for the dollar.  EUR/USD held to a tight range of 86.00-86.40. The pair fell back to support at 86 cents after failing to hold onto gains above 86.30 overnight. But the single currency will need to regain the 86.80/90 mark to really improve its outlook. If not, it still looks vulnerable to fall back below 86.00 on its way to this week's 6-month low of 85.72. A break below this would then target 85.55, the 71.8% Fibonacci retracement of the move from 82.25 to 95.95. Resistance is viewed at 86.80, and the key 87.40/50 level which marks the 61.8% Fibonacci retracement of the same move.  Today's much anticipated German states' inflation came above expectations and is likely to prevent the European Central Bank from cutting interest rates soon, thereby weighing on the euro. German inflation surged upwards in January, but mainly because of tax increases and higher food prices rather than the impact of the euro changeover, according to preliminary data from the individual states.  Other data from the euro area was Italy's ISAE revision of 2002 GDP down to 1.5%. Meanwhile, the French jobless rate was steady at 9.0% in December compared with the previous month. Although the consensus was for a rise to 9.1%, the figure suggests that the euro area's second largest economy is stabilizing after a sharp economic downturn.  USD/CHF again tested resistance at 1.7140, which marks the ascending trendline resistance. Swissy fell back to a low of 1.7060 but remains well supported above 1.6945, the 50% retracement of the 1.8220 to 1.5770 move. Also keeping pressure on the france was the Swiss KoF indicator which fell to -1.37 in December from -1.28, marking a worsening of conditions, not a turnaround as many had hoped. Therefore, given the recent bullish data and positive outlook by the Fed, USD/CHF should remain well supported.  GBP/USD moves were dictated by the rise and fall in EUR/GBP today from a low of 60.84 to a high of 61.24, or a 0.7% swing in European trade. The rise in EUR/GBP put sterling under pressure to a day's low of $1.4090, but the subsequent reversal in EUR/GBP allowed cable to rise to a day's high of 1.4158. However, resistance at 1.4183, which marks the 38.2% Fibonacci retracement of the 1.4418-1.4038 move, has held so far. Barring a break of this resistance, renewed weakness could prevail. Support is seen at 1.4120 and 1.4080.  The sharp moves in sterling reflect a recently released poll from investment bank Credit Suisse First Boston which shows only a very small majority of Britons opposes joining Europe's single currency in the next two to three years. In contrast to a 70% opposition last year, the poll now showed 42% of those asked would support euro entry within the next two to three years while 46% were opposed.  The other data from the UK today showed a sharp rise in British consumer confidence in January to +6 from -1. This reflected yesterday's data showing net consumer credit rose more than expected in December to 2.166 billion pounds compared with a rise of 1.5 billion pounds in November. Despite recent data and reports on the UK economy which have highlighted disparities between manufacturing and consumption, the increase in consumer credit was seen as adding to consumption which has kept the economy afloat with robust growth. But they also reinforce the perception that the Bank of England will be reluctant to cut interest rates again any time soon.  Today's data from the US includes the release of Chicago PMI, which is forecasted to rise to 45.5 in January from the previous 41.4, mirroring the improvement seen in the ISM (formerly NAPM) survey. The pickup in the manufacturing sector is attributable to increased spending on durables and other goods, and therefore, US Personal consumption is expected to rise to 0.1% in December from the previous 0.7%. 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Mark,

Here is a draft for the Fee Agreement language for the margining.  this
language should tie with the liquidated damages language that you have for
the RTA.  I think that we will need to remove the words or settle from the
liquidated damages paragraph.  Brokers do not have settlement risk.


Just a note that the bill from TCO goes to Aristech and CES pays Aristech for
both demand and commodity. Any gas we buy from Enron should not include any
commodity costs. Thanks JPP

Joan.Veselack@enron.com on 04/20/2000 12:12:17 AM
Please respond to Joan.Veselack@enron.com

To: Kara Destephanis/CES/ColumbiaGas@COLUMBIAGAS
cc: Chris.Germany@enron.com, Jeffrey Porter/CES/ColumbiaGas@COLUMBIAGAS,
Robert.Allwein@enron.com, Joann.Collins@enron.com
Subject: Re: COH Choice for 4/21 - PLEASE READ - WEEKEND SETUP

Kara, because we are close on the SST's max MDQ, we are going to use some
of Aristech's Capacity. Also, to be pro-active on the huge temperature
swings that we have been seeing on the weekends, we are going to do a 50/50
split with storage. Hopefully, this will prevent overrun charges and
overdelivery gas. Cross our fingers!!!!!!!!!  This has been approved
through Jeff Porter, the CES Choice God!!!!!

Also Joann Collins is on call this weekend. Friday is an "unofficial
holiday" for us. Joann will be in the office tomorrow morning to do Choice.

Contract Changes:

7-1: 67693     11558
     67829     5000 (aristech capacity)
Total          16558

7-5  67693     9693
     67829     3527 (aristech capacity)
Total          13220

Thank you!!!!!!!!!!!!!!!!!!!!


Earlier today, the New York Public Service Commission released a 122 page
draft report prepared by its staff evaluating the NYISO. The report concludes
that the ISO must pursue a wide range of operational reforms and other
consumer safeguards to "ensure a more efficient and stable electric market
that will better protect consumers from dramatic price increases." The report
culminates a months-long investigation begun by the PSC last summer in
response to problems and price run-ups in the wholesale market.

The major recommendations in the Report, some of which have already surfaced
in recent ISO Committee meetings, would be devastating to a competitive
wholesale market and would largely reregulate prices in New York. They
include the following (taken directly from the PSC's Press Release):

Reforming rules and procedures to improve the efficiency of the market and
minimize opportunities for market manipulation, or "gaming," by owners of
electricity generating facilities;
Initiating a $150 per megawatt hour price cap on generators to maintain
reasonable market clearing prices;
Creating a "circuit-breaker" mechanism that will prevent market power abuses
at levels below $150/MWH;
Lowering price thresholds significantly to allow the NYISO to step in more
quickly to investigate and mitigate price spikes;
Granting the NYISO retroactive refund authority to return to consumers gains
that generators improperly derive from market power abuse; and,
Creating a strong deterrent against price abuses by penalizing generators who
repeatedly use improper tactics to raise prices above competitive levels.

The NYPSC, of course, has no legal authority to impose any of these
recommendations. However, they are likely to muster support from the
Transmission Owners, governmental entities and loads, that usually control
enough votes to just  pass a motion at an ISO Committee. This will set up a
confrontation with the ISO Board, which is walking a delicate tightrope
between maintaining its independence and supporting a competitive wholesale
market on the one hand, and dealing with the politics of a hostile
Administration in New York. Last summer, as you may recall, the Board
rejected the $1000 bid cap pushed through by the PSC, voting instead for a
$1300 cap. That action was set aside by FERC, which reimposed the $1,000
level and then made it applicable in New England as well so that there would
be consistency among the three Northeast ISOs (PJM already had the $1,000
cap.)

Thus, whether NY follows the lead of California is likely to be determined by
FERC, and it will have to carefully consider the consistency concerns it
raised last summer in ultimately deciding whether it's OK for New York to set
price caps below its neighboring ISOs.

Attached is a copy of the PSC's Press Release and Report.

http://www.dps.state.ny.us/fileroom/doc8945.pdf