Eric, incase i forgot to forward, please followup and lets meet him.  I would
like to attend.
m
---------------------- Forwarded by Mike McConnell/HOU/ECT on 04/26/2001
01:54 PM ---------------------------

Bob Nimocks <BNimocks@ZeusDevelopment.com> on 04/25/2001 09:16:30 AM
To: "Mike McConnell (E-mail)" <Mike.Mcconnell@enron.com>,
"'Cathy.Phillips@Enron.com'" <Cathy.Phillips@Enron.com>
cc:
Subject: Introduction to Eric Gonzales

Mike,
In the interest of time, I'd like to call Eric Gonzales directly.  Please,
would you make an introduction.  My company description is below.  We've
covered the LNG industry for over ten years and have some ideas that fit with
Enron's trading strategy.
Thanks,
Bob Nimocks
www.zeusdevelopment.com
Founded in 1991, Houston-based Zeus Development Corporation is a research
consultancy and central information clearinghouse for business-related
research, news and information concerning two subjects: natural gas
development and information technology in energy.
Zeus publishes websites and periodicals (newsletters, magazines and annual
reports), provides strategic research services through multi-client and
single-client consulting engagements, and conducts workshops, conferences and
trade exhibits.
Specific areas of coverage in the natural gas development industry include
liquefied natural gas (LNG); Fischer-Tropsch (FT) synthesis, methanol and
dimethyl ether (DME -- collectively GTL); international pipelines;
well-to-wire; ammonia; aluminum smelting; direct iron reduction (DRI);
desalination; fuel cells; and carbon black.
Areas of coverage for energy-industry information technology include
web-based systems for E&P companies; oilfield-service and equipment
suppliers; transportation and transmission companies; refiners, processors
and petrochemical manufacturers; electric power producers; energy services;
and wholesale and retail product, gas and electricity suppliers.

-----Original Message-----
From: Bob Nimocks
Sent: Monday, March 26, 2001 8:40 AM
To: Mike McConnell (E-mail)
Subject: FW: LNG's Role in North American & Caribbean Gas Supply

Mike,
Know you're extremely busy -- Suzanne tells me positions at rarified heights
are driven by the need for crisis intervention. Members of your LNG team tell
me that Eric Gonzales is coming to Houston to lead Western Hemispheric
activities.  Maybe the three of us could meet for breakfast somewhere close
to your offices.
Let me know a convenient time and date.
Bob

-----Original Message-----
From: Bob Nimocks
Sent: Tuesday, March 20, 2001 10:05 AM
To: Mike McConnell (E-mail)
Subject: LNG's Role in North American & Caribbean Gas Supply

Mike:
Understand LNG continues to be an enigma cloaked in a mystery for Enron.  We
are continuing to expand our coverage and knowledge base of this marketplace,
especially in the Western Hemisphere and would like to meet with you to
discuss our observations and learn more about Enron's desires in this arena.
Also, we have a meeting planned in D.C. in late June, entitled "LNG's Role in
North American & Caribbean Gas Supply."  With the U.S. hunger for gas and El
Paso, AEC and other's announcements of new projects, the meeting should be
constructive, especially with DOE and FERC involvement.  See summary below.
Let me know when you might be available to discuss the LNG marketplace.
We've just completed a white paper, entitled "Atlantic-Basin LNG: A Whirling
Supply/Demand Balance."  You may find our conclusions of interest.
Best regards,
Bob Nimocks
President
Zeus Development Corporation
www.zeusdevelopment.com
2424 Wilcrest Dr., Suite 250
Houston, TX 77042
Direct: 713-952-9529
Main: 888-GR8-DATA (478-3282)
e-mail: bnimocks@zeusdevelopment.com

***********************************
TITLE:  LNG's Role in North American & Caribbean Gas Supply
DATE/LOCATION:  Washington D.C., June 27-29
SUMMARY:  The winter of 2000/2001 confirmed the shift in the United States
from a buyer's to a seller's market. Gas supplies for North America ran short
as demand rose from colder weather, higher electricity demand and shortages
in storage from the previous year.  More and more supply is shifting from the
U.S. Gulf Coast to Western Canada as offshore exploration in the Gulf of
Mexico has proven disappointing.  U.S. demand for power generation is
expected to keep gas demand high through the summer of 2001, siphoning off
gas that would have been destined for storage.
Meanwhile during the long gas bubble of the 1980s, drilling rigs and
experienced field personnel dwindled from thousands to several hundred.  The
current rig count for North American gas exploration and production is near
full capacity at just over 600 rigs, so the industry is constrained on how
quickly it can recover.
The U.S. has not experienced shortages of natural gas like this since the
1970s and early 1980s when it was feared that the nation would run out of gas
in 10 years.  Four LNG import terminals were built to supply natural gas from
North Africa (Algeria).  These terminals are capable of supplying up to 5% of
total U.S. gas consumption (about one trillion cubic feet per year).  Plans
are underway to have all four terminals fully operational by the end of 2002;
however, more are needed.
Conventional wisdom is that no new terminals would be built in the United
States due to EPA laws and local citizen protests to any facility perceived
to be unsightly or dangerous.  Now, El Paso (a company that was burned by
Congress in the 1980s by the ruling that take-or-pay LNG contracts with
Algeria were invalid) is challenging conventional wisdom. They have announced
plans for six new terminals to be built in North America: three in the United
States and three in Mexico.    New LNG plants in Venezuela, Algeria and
Northern Australia might supply these terminals.
Other companies, such as Enron and AEC, have announced plans to build
terminals in the Caribbean to supply gas to independent power production
(IPP) plants ranging from 400 to 1000 megawatts.  Moreover, LNG facilities on
Caribbean Islands close to Florida might export gas or electricity via
undersea pipeline and cable.  Floating offshore LNG terminals may also offer
a means to bring LNG into the United States with less environmental and
community concern.
The June 27-29 conference, entitled "LNG's Role in North American & Caribbean
Gas Supply," will cover the dynamics that are leading to North American gas
supply shortages, how long they are expected to last, and what source of
natural gas are available from conventional sources to meet demand.  The
conference will then focus on opportunities for LNG, including the capacities
and timing of current terminals, the prospects for new mainland and offshore
terminals, and the opportunity for broader terminal networks in the
Caribbean, including those facilities that might supply gas or electricity to
the United States.
* * *


Ina,

Thanks for checking into it.  Coincidently, I noticed that there is a line on my phone called Portland #2 that noone uses.  If it's listed on the phone does that mean that it's necessarily there?  Maybe it was used at one time or another, but just got forgotten.  Anyway, it's not a big deal to wait until we get into the new building.

Thanks.

Mat

-----Original Message-----
From: Rangel, Ina
Sent: Friday, October 12, 2001 3:53 PM
To: Smith, Matt
Subject: Portland Direct Line

This is what I am being told about the Portland/Houston direct line.

-Ina

-----Original Message-----
From: Adamik, Darren
Sent: Thursday, October 11, 2001 3:41 PM
To: Rangel, Ina
Subject: RE: Direct line

Ina,

It's getting even more complicated.  I forgot that the Portland office is also going through major renovation and system upgrades that would also effect the possibility of installing such a circuit.  At this time, because of the uncertainty of what items are being changed, moved or upgraded at each location and when these events would occur, makes the reliability of this circuit a major issue and should not be attempted until both locations have completed their locations' projects.

Darren

-----Original Message-----
From: Rangel, Ina
Sent: Wednesday, October 10, 2001 6:53 PM
To: Adamik, Darren
Subject: RE: Direct line

Any luck yet on an answer?

-ina

-----Original Message-----
From: Adamik, Darren
Sent: Wednesday, October 03, 2001 2:50 PM
To: Rangel, Ina
Cc: Hill, Ben; Cummings, David A.
Subject: Re: Direct line

Ina,

I would have to investigate further to determine if this can be done, however, at this time we are not accepting any new circuits for the Trading floors because of the pending moves to ECS.  Direct circuits using Enron facilities is difficult when equipment using the circuit is in ECS and the equipment establishing the circuit to Portland is in ECN.  There are potential reliability problems.

Let me do some checking.

Regards,
Darren Adamik
Mgr.-Trading Technology
Enron Net Works, LLC
713.853.4764 Office
713.853.9828 FAX
darren.adamik@enron.com

Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)

-----Original Message-----
From: Rangel, Ina <Ina.Rangel@ENRON.com>
To: Adamik, Darren <Darren.Adamik@ENRON.com>
CC: Hill, Ben <Ben.Hill@ENRON.com>
Sent: Wed Oct 03 13:28:38 2001
Subject: Direct line

Darren,

What would the cost be to se up a direct line between Portland and The West Gas Desk?  Are there any switches available for this where there would not be a cost?

Let me know what my options are.

-Ina Rangel


Robert and I have a plan. Your team will change next week. Until them please bear with us.
-----Original Message-----
From: Pickering, Mark
Sent: Wednesday, November 21, 2001 7:51 AM
To: Oxley, David
Cc: Piper, Greg; Beck, Sally
Subject: HR
Sensitivity: Private

Hi David,

Just want to let you know, and I'm sure I speak for everyone when we say we have been underwhelmed by our HR assistance in this.

Regards

Mark Pickering
Chief Technology Officer

Enron Net Works, LLC

  _____


Not good really for me as I was finally hoping to get paid this year
--------------------------
Sent from my BlackBerry Wireless Handheld


AMEREX

Diana Scholtes
563461 - should be amerex/in as prebon/changed

Chris Mallory
563362 - he changed it to Prebon

PREBON

Chris Mallory
563461 - changed to amerex
563358 - killed/new heavy load deal entered - 563967

Evelyn Metoyer@ENRON
03/28/2001 02:32 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: 3/38 Checkout

AMEREX

Diana/Sean
I am missing the following deal:
1) Enron sells to Powerex MId-C light 3/29 at $140.00

Chris Mallory
Amerex does not recognize deal 563362

BLOOMBERG
All deals are o.k.

PREBON

Chris Mallory
deal 563461
Is this a duplicate of 563460 because Prebon only recognizes 1 deal

deal 563358
Prebon says should be heavy not light hrs.


Scott,
Attached is the file with Lavo's changes.  Note he's added a couple of interest rate desks and put gas weather and another fundies person in - Bob Superty was looking for 3 logistics support people that should be on the floor,  Tammy Jaquet, Richard Pinion, and Natalie Baker.  Please assign them and the assistants a desk.

We are out of time on turning this churn in.  I must have it by noon.  I will be meeting with the move team tomorrow afternoon to set move dates.  I'm being asked about  the trading simulation for next week and since your churns aren't set I can't provide an answer.

Ina, please pull in whomever you need to work on the churn,  be sure and get with Superty's asst to help you with those people etc.

Regards,
Tammy


Start Date: 4/24/01; HourAhead hour: 13;  No ancillary schedules awarded.
Variances detected.
Variances detected in Generation schedule.
Variances detected in SC Trades schedule.
Variances detected in Load schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001042413.txt

---- Generation Schedule ----
$$$ Variance found in table tblGEN_SCHEDULE.
     Details: (Hour: 13 / 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

---- SC Trades Schedule ----
$$$ Variance found in table tblInt_Interchange.
     Details: (Hour: 13 / Preferred: -600.00 / Final: -595.03)
  TRANS_TYPE: FINAL
  SC_ID: EPMI
  MKT_TYPE: 2
  TRANS_DATE: 4/24/01
  TRADING_SC: NES1
  PNT_OF_INTRC: SP15
  SCHED_TYPE: ENGY
  PURCH_SALE: 1
  DEAL_NO: 1

---- Load Schedule ----
$$$ Variance found in table tblLoads.
     Details: (Hour: 13 / Preferred: 134.50 / Final: 129.13)
  TRANS_TYPE: FINAL
  LOAD_ID: SDG1
  MKT_TYPE: 2
  TRANS_DATE: 4/24/01
  SC_ID: EPMI


The following expense report is ready for approval:

Employee Name: Samantha P. Law
Status last changed by:  Automated Administrator
Expense Report Name: Law, Samantha  1/9/02
Report Total: $71.74
Amount Due Employee: $71.74

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


(See attached file: gems.pdf)

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


Any news?

Eric


I apologize for the late notice, but Sally has just been notified that a
cross-functional PRC meeting w/ Rick Causey has been set for this Friday,
December 1.  She will need a compilation of your accomplishments by
Thursday.  If you have directors reporting to you, please request that they
also have data in to Sally by Thursday.

Thanks for your help,
Patti x39106


> -----Original Message-----
> From: Russ [SMTP:kickssound@home.com]
> Sent: Monday, April 23, 2001 9:29 AM
> To: Undisclosed-Recipient:;
> Subject: Letter to the captain - QUANTAS
>
> Letter to the captain - QUANTAS
>
>
>
>
> Happy landing!  <<quantas.jpg>>

 - quantas.jpg


Thank you for the kind message.  Attached please find the powerpoint overview and consolidated financial pro-forma.  Would you please forward to Mr. Garland as well.  Look to our being in further touch and setting up a follow-up meeting as appropiate.

Regards,
ROC

---------- Original Message ----------------------------------
From: Ken_Rice@enron.net
Date: Wed, 20 Jun 2001 15:21:10 -0500

>
>
>Rob
>
>I am traveling for the next week, however, I have forwarded your email to Kevin
>Garland who heads our investment group and he will contact you shortly.
>
>Ken
>
>
>
>|--------+----------------------->
>|        |          Rob.Colorina@|
>|        |          telion.tv    |
>|        |                       |
>|        |          06/20/2001   |
>|        |          09:10 AM     |
>|        |          Please       |
>|        |          respond to   |
>|        |          Rob.Colorina |
>|        |                       |
>|--------+----------------------->
>  >----------------------------------------------------------------------------|
>  |                                                                            |
>  |       To:     Ken Rice/Enron Communications@Enron Communications           |
>  |       cc:     jeff.skilling@enron.com                                      |
>  |       Subject:     TeliOn Broadband / joint venture proposition            |
>  >----------------------------------------------------------------------------|
>
>
>
>
>
>Mr. Ken Rice
>Chairman & CEO
>Enron Broadband Services
>1400 Smith Street
>Houston, TX 77002 USA
>
>Dear Mr. Rice:
>
>Further to the call today, I have been referred to you by the office of Mr.
>Skilling.  For added background, I have had the pleasure of working with some of
>your US and Asian-based executives on transactions, notably Mike Gaffud in the
>Philippines regarding the sale of an equity interest in Subic Power, and meeting
>some of your board members including Mr. Ronnie Chan of Hong Kong, while working
>abroad in Asia. This follows a banking relationship with you all from a Bank of
>America stint.
>
>I am in touch on a newly-formed entity, TeliOn Broadband, of which I am a
>partner.  It is an early mover, capital efficient fixed wireless integrated
>service provider (WISP) owning last mile applications in the focused markets we
>have researched and chosen.  Many of which are already in markets that Enron has
>presence. Attached please find the executive summary for your review.
>
>We are in the process of our Series A launch and beta tests.  After meeting
>internally and given national scalability, would like to invite Enron
>Corporation and its affiliate, Enron Broadband Investments, to review as a
>potential partner for this round. From what we understand, there seems to be
>some complementation to your current wireless communication interests and
>broadband initiatives. Supplementally, there may be a relationship to explore
>regarding co-location on certain tower sites. At an appropriate future point,
>there may be a couple of third party co-investment structures, in addition to
>Cisco Systems interests, for possible discussion.
>

--
Robert O. Colorina
Director, External & Strategy
TeliOn, LLC
The Pinehurst Centre
477 Viking Drive, Suite 460
Virginia Beach, Virginia 23452 USA
Tel: 757.548.0575 (direct)
Email: Rob.Colorina@telion.tv
--

 - TeliOn Overview.ppt
 - TeliOn Pro Forma(5).xls


Suddenly, Pipeline Project Sparks Interest --- Pakistan, India Summit Revives
Plan for Gas To Travel Over Land
The Wall Street Journal, 06/27/01

Enron Direct to tap Alberta retail market Firm's new unit is first major
independent electricity and natural gas competitor
The Globe and Mail, 06/27/01

U.S. giant enters deregulated Alberta market: Biggest energy trader: Enron
Corp. seeks expansion in other areas of Canada
National Post, 06/27/01

Former Bush aide named by Perry to last PUC post
Houston Chronicle, 06/27/01

Enron says delay in India positive sign
Houston Chronicle, 06/27/01

Dabhol: Lessons for FDI
The Economic Times, 06/27/01

Powermen stage stir, demand Enron's exit
The Times of India, 06/27/01

Europe Weighs Standard Gas-Trading Contract
The Wall Street Journal Europe, 06/27/01

Data Centre bubble bursts amidst dotcom meltdown
The Times of India, 06/27/01

Enron plans to enter steel trading in India
Business Standard, 06/27/01

New York Electricity Supplier Tests Gadget that Controls Heat Via Internet
KRTBN Knight-Ridder Tribune Business News: The Philadelphia Inquirer -
Pennsylvania, 06/27/01

Coal Cos Take Cautious View Of Nymex Coal Futures
Dow Jones News Service, 06/26/01

Oregon Vote on Electricity Deregulation Delayed by Partisan Dispute
Dow Jones Business News, 06/26/01

El Paso: Calif Supply Constraints Keep Gas Prices Up
Dow Jones Energy Service, 06/26/01

Enron Corp. Dives Into Retail Canadian Power, Gas Markets
Dow Jones Energy Service, 06/26/01

Enron to Start Commercial Power, Gas Sales in Alberta (Update1)
Bloomberg, 06/26/01

Enron Says Indian Court Defers Decision on Jurisdiction
Bloomberg, 06/26/01

International
Suddenly, Pipeline Project Sparks Interest --- Pakistan, India Summit Revives
Plan for Gas To Travel Over Land
By Daniel Pearl
Staff Reporter of The Wall Street Journal

06/27/2001
The Wall Street Journal
A8
(Copyright (c) 2001, Dow Jones & Company, Inc.)

BOMBAY, India -- A planned summit of India's and Pakistan's top leaders is
giving new momentum to a $5 billion international gas-pipeline plan that was
once dismissed as a pipe dream. U.S. companies may be left out, though,
because the gas would originate in Iran.
The decades-old pipeline idea, from gas-rich Iran east through Pakistan and
into gas-hungry India, has always floundered on India's reluctance to deal
with Pakistan. Since gaining independence in 1947, India and Pakistan have
fought three wars and a bloody border skirmish two years ago that derailed
efforts to establish some economic cooperation. On July 14, Pakistani Gen.
Pervez Musharraf, who seized power in a 1999 coup and recently named himself
president, is scheduled to arrive in Agra, India, for his first summit
meeting with India Prime Minister Atal Bihari Vajpayee.
Pakistan officials have told reporters they expect the pipeline to be
discussed. India's foreign ministry won't confirm that, but Mr. Vajpayee gave
a green light to pipeline discussions during a recent trip to Tehran,
industry officials said. India has previously limited itself to exploring
undersea pipelines that avoid Pakistan. After the trip, Iran promptly asked
Australia's BHP Petroleum to launch a feasibility study on a land route.
"There have been some studies before, but I think this is the most official,"
an Iranian official said.
Pipeline talks could present a quandary for the Bush administration.
Washington has encouraged India and Pakistan to reduce tensions on the
subcontinent, but has strongly opposed previous energy projects involving
Iran. U.S. oil companies are lobbying hard for the administration to let
sanctions on Iran expire this year instead of renewing them for two years.
Though the 1,500-mile pipeline remains a long shot, it may be one of the few
topics India and Pakistan can discuss without fear of political backlash at
home. Neither country is likely to budge from their hardened positions on the
disputed Kashmir territory, and low-level talks aimed at reducing risks of
nuclear weapons have so far come to naught. Pakistan stands to gain badly
needed revenue from transit fees; estimates range between $260 million and
$600 million a year. India could get relief from a gas deficit that has
fertilizer plants running on reduced fuel and power plants running on
more-expensive naphtha.
Also, India's biggest private company appears to be shifting the balance in
favor of an Iran pipeline. Reliance Industries Ltd., a Bombay-based polyester
and petroleum company that is gearing up to challenge government monopolies
in telecommunications and gas supply, recently launched a $10 million study
on importation of liquefied gas from Iran to India by ship, in partnership
with BP Inc. and National Iranian Oil Co. But industry officials familiar
with Reliance's plans said the company is expressing interest in the pipeline
option, too, because of its cost advantages and potential to provide a backup
energy source for Reliance's huge industrial complex in India's northwestern
Gujarat state.
Reliance wouldn't comment on its gas-supply plans. If the company does insert
itself as a potential buyer of the pipeline gas, a deal could become easier
to negotiate than if India's state-owned gas company were the buyer.
Still, "What's missing really at this moment is someone who would broker an
arrangement," says Hugh McDermott, a principal of consulting firm Nexant Inc.
who heads a U.S.-funded project promoting energy cooperation among South
Asian countries. (Pakistan isn't yet involved).
The less India and Pakistan are willing to trust each other, the bigger role
Iran is likely to play in any pipeline. One scenario being discussed within
the gas industry is for Iran to agree on delivery all the way to the Indian
border, paying Pakistan's transit fees and guaranteeing safe passage through
Pakistan. Iran and Pakistan have warmed their previously frosty relations
recently, but whether Iran -- or even Pakistan itself -- could really
guarantee the pipeline's security is an open question. Matthew Forman, South
Asia specialist at the London-based consulting firm Control Risk Group, said
the pipeline would run through the huge and remote province of Baluchistan, a
lawless haven for smugglers where suspected tribal militants recently
attacked a Chinese petroleum-engineering company with bullets and rockets.
Pakistan "will have to work hard to give the impression [the pipeline] is
safe and reliable," Mr. Forman said. "It is going to need some serious
political will for it to go ahead."
Several competing proposals to bring natural gas to India have run into
trouble lately. Enron Corp. recently withdrew from the latest plan for an
underwater pipeline from the Persian Gulf. Unocal Corp. tried to promote a
pipeline through Turkmenistan, Afghanistan, Pakistan and India, but Unocal
shut down its Turkmenistan office in 1999, after finding the lure of transit
fees wasn't enough to make Afghanistan a stable country. Unocal, Royal
Dutch/Shell Group and other oil companies have staked out gas interests in
Bangladesh, but Bangladesh officials have so far spurned oil companies' pleas
to allow export of gas to neighboring India.

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

Report on Business: Canadian
Enron Direct to tap Alberta retail market Firm's new unit is first major
independent electricity and natural gas competitor
DAVID PARKINSON

06/27/2001
The Globe and Mail
Metro
B3

CALGARY -- U.S. energy trading giant Enron Corp. announced yesterday the
launch of a retail electricity and natural gas business in Alberta, becoming
the first major independent competitor to enter the Alberta market since the
province deregulated electricity at the start of the year.
Enron Canada Corp., the Canadian unit of Houston-based Enron, unveiled Enron
Direct Canada Corp., a new unit that will sell electricity and natural gas
directly to commercial and light industrial businesses in Alberta. The
company will go head to head with Alberta's established major utility
retailers -- mainly Enmax Corp. of Calgary and Epcor Utilities Inc. of
Edmonton -- in the battle for the roughly 120,000 business customers in the
province's deregulated natural gas and electricity markets.
"Obviously, we'd like to gain market share and be a significant competitor in
Alberta," said Rob Milnthorp, president and chief executive officer of both
Enron Canada and the new Enron Direct unit, from his office in Calgary.
Enron enters the Alberta retail market at a time when some of the traditional
regulated utilities have been moving away from the retail business. TransAlta
Corp. sold its retail business last year, and Atco Ltd. announced in May that
it put its retail operations up for sale to concentrate on the regulated side
of its utilities.
"I think this is a market where money is to be made, but it takes
considerable marketing and trading skills," said analyst Winfried Fruehauf of
National Bank Financial in Toronto.
Enron's announcement prompted speculation that the company might be
interested in the retail electricity and natural gas operations of Atco Ltd.,
which feature a base of about one million commercial and residential
customers. Mr. Milnthorp wouldn't say whether Enron has talked with Atco
about buying the assets.
But Mr. Fruehauf said it "wouldn't surprise" him if Enron was interested.
Enron has been providing retail power to commercial customers since 1993,
when it launched Enron Direct in the deregulated British market. Since then,
the company has expanded its retail sales into the United States, Spain and
the Netherlands.
Enron has been involved in wholesale energy marketing in Canada for several
years. It began dabbling in the Alberta retail market four months ago, taking
on a handful of commercial customers while it built up its retail office in
preparation for an all-out launch. Its existing customers include retailer
Calgary Co-operative Ltd. and real estate firm Boardwalk Properties Co.
Mr. Milnthorp declined to say how many customers the Alberta retail operation
already has, nor would he divulge the company's targets for the number of
customers it hopes to add over the next year. However, he did say the company
would be interested in expanding Enron Direct into Ontario once that province
completes electricity deregulation.
"If the regulatory market is conducive to competition, then we want to be
there," he said.

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

Financial Post: Canada
U.S. giant enters deregulated Alberta market: Biggest energy trader: Enron
Corp. seeks expansion in other areas of Canada
Carol Howes
Financial Post

06/27/2001
National Post
National
C06
(c) National Post 2001. All Rights Reserved.

CALGARY - Enron Corp., the biggest energy trader in North America, has begun
selling electricity and natural gas to consumers in Alberta and is looking to
expand into Canada's other deregulating power markets.
Enron Direct Canada Corp., a new Calgary-based subsidiary, will enter the
market by selling to commercial and small industrial businesses and will
evaluate demand for residential sales over the next few months.
"As other markets open up -- if in fact the regulatory environments in those
different parts of Canada are conducive to competition -- we will take a very
serious look at becoming a major player [there]," said Darren Cross, chief
operating officer of Enron Direct.
Alberta opened its electricity market to competition Jan. 1, prompting ATCO
Ltd., one of Canada's biggest publicly held utility companies, to put its
retail electricity and gas units up for sale.
Last year, Alberta's other large power generator, TransAlta Corp., sold its
retail electricity unit and power lines to Kansas City-based UtiliCorp United
Inc. for $860-million. UtiliCorp then sold the retail business to Edmonton's
municipally owned Epcor Utilities Inc. for $110-million.
Rob Milnthorp, president and chief executive of Enron Canada, said his
company expects to make money where others couldn't because of its hold on
the Canadian wholesale market and its ability to offer competitive pricing.
"Where we really have the distinct advantage is our wholesale backbone. Being
the largest wholesaler of natural gas and electricity in Canada gives us
tremendous strength," he said.
Mr. Milnthorp declined to discuss whether Enron has made a bid for ATCO's
businesses, which were expected to be sold by the end of June. "Based on
confidentiality restrictions we can't comment on that right now," he said.
The retail units, which are essentially ATCO's 900,000 home and business
customers, have been estimated at $300-million to $325-million.
Jim Campbell, ATCO's chief financial officer, said the sale is "progressing
as planned," but couldn't comment further.
ATCO put its retail operations up for sale to concentrate on its
government-regulated generation and distribution arms.
Enron plans to offer long-term, flexible contracts to customers, eliminating
some of the concern over the volatile pricing that has hit Alberta and
elsewhere this past year. The company has already started marketing the
energy contracts to Alberta's 100,000 businesses.

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

June 27, 2001
Houston Chronicle
Former Bush aide named by Perry to last PUC post
By LAURA GOLDBERG
Copyright 2001 Houston Chronicle
A woman who served as a policy director for former Gov. George W. Bush will
fill the last vacant spot on the agency that is overseeing the state's move
to electricity deregulation.
Gov. Rick Perry on Tuesday appointed Rebecca Armendariz Klein of Austin to
the state Public Utility Commission.
Armendariz Klein, currently a consultant with KPMG Consulting, served as
general government policy director when Bush was governor.
She also has previously worked as a senior attorney for the PUC and as a
telecommunications law analyst for the American Enterprise Institute.
Perry also announced Tuesday that Mario Max Yzaguirre will serve as chairman
of the three-member PUC. Perry named Yzaguirre, who recently resigned from
Enron Corp., to the PUC earlier this month.
Consumers Union criticized Yzaguirre's appointment because of his ties to the
energy industry.
But Reggie James, director of the southwest regional office of Consumers
Union in Austin, expressed support for Armendariz Klein.
"We feel that she is going to be a competent commissioner," he said, adding
that her technical and other experience make her suited for the job.
"We've worked with her before," he said. "We know that she's bright."
Consumers Union, he said, is happy to see someone with a more neutral
background than Yzaguirre appointed, he said.
The two join Brett Perlman of Houston on the PUC. He was appointed in 1999 by
Bush.
"Texans can count on her for fair treatment," Perlman said in a written
statement.
Given the great impact that the PUC has on consumers, "it was Gov. Perry's
strong desire" to have one of his appointees as chair, said Kathy Walt, a
Perry spokeswoman.
"Gov. Perry is confident that both of his appointees on the Public Utility
Commission will represent the varied interests of Texans," she said.
The appointments come as Texas prepares to open its electricity market to
competition. Starting Jan. 1, Texans will be able to choose their electricity
providers.
The PUC also oversees the telecommunications market.
Armendariz Klein, who graduated from high school in Corpus Christi, has a
bachelor's degree from Stanford University, a graduate degree from Georgetown
University and a law degree from St. Mary's University School of Law in San
Antonio.
She is also a major in the Air Force Reserves, where she also serves as a
staff judge advocate general.
One of the two vacancies Perry had to fill occurred recently when PUC
Chairman Pat Wood III stepped down after President Bush named him to the
Federal Energy Regulatory Commission.

June 27, 2001, 12:37AM
Briefs: Houston & state

Enron says delay in India positive sign
Enron Corp. said an Indian court deferred a decision on whether a regulatory
agency has the jurisdiction to rule in a dispute between the company and a
regional government that is refusing to pay its power bills.
The Bombay High Court gave the Maharashtra Electricity Regulatory Commission,
the regulatory agency, six weeks to decide whether it has jurisdiction to
settle a dispute on termination of the 7-year-old power-purchase agreement.
Enron called the ruling positive.
Enron owns Dabhol Power Co., which has a $3 billion power plant in
Maharashtra state. The project's sole customer is the Maharashtra State
Electricity Board, which said May 24 that it is canceling an agreement to buy
power from the Dabhol plant.

Dabhol: Lessons for FDI
Swaminathan S Anklesaria Aiyar

06/27/2001
The Economic Times
Copyright (C) 2001 The Economic Times; Source: World Reporter (TM)

IT WILL be hard for foreign investors to look seriously at India until this
(Dabhol) dispute is resolved in a satisfactory way. So said Alan Larson, US
Under-secretary of State for business and agriculture, at the meeting of the
Indo-US Business Council last week.
Many other observers of the foreign investment scene, including Indian
diplomats in Washington, say the same.
Some Indians take comfort in the fact that neither Moodys nor Standard and
Poors have downgraded India as a credit risk. But these rating agencies rate
the safety of not FDI but of sovereign Indian paper.
Now, the government of India is clearly able and willing to service all its
foreign debt. Its forex reserves stand at a record $43 billion, and its debt
service ratio is down from a peak of 33 per cent to just 15 per cent or so.
In the case of Dabhol, the central government has reaffirmed that it will
honour its counter-guarantee. The entity that is both unwilling and unable to
pay is the Maharashtra state government.
The Maharashtra chief minister has made it clear that he does not believe in
enforcement of contracts: he believes a politician has the right to renege on
contracts simply on the ground that the price looks too high. Such wilful
default is far worse in the eye of the foreign investor than mere bankruptcy.
Maybe Dabhol will be renegotiated satisfactorily and the dust will settle.
Meanwhile, it is essential to distil lessons from Dabhol for FDI.
One lesson is that a foreign investor who negotiates a deal that yields a
fabulous price from his viewpoint but bankrupts the customer is not a
fabulous deal at all but a bad one that invites political risk on top of
commercial risk.
The second and more important lesson is that state governments in India are
bankrupt but individuals and corporations are solvent. Enron made the serious
error of thinking it was easier to collect dues from a state government than
individual consumers.
Other foreign investors in telecom, ports, banking and roads are faring
better because their bills are paid by individuals and corporations.
Not long ago, Maharashtra was regarded as one of the best administered and
most solvent states. The Maharashtra State Electricity Board used to generate
healthy profits in excess of Rs 100 crore per year.
The states fiscal deterioration in the last five years has not received the
attention it deserves. All states were hard hit by the Pay Commission award,
and most analysts (including me) blithely assumed that `good states like
Maharashtra would bounce back.
That optimism has turned out to be misplaced. Except for Gujarat, Tamil Nadu
and possibly one or two others, state governments today seem unable to meet
their commitments.
Worse, they regard this state of affairs as somewhat unfortunate but
nevertheless a political necessity.
They are not inclined to make the wrenching changes needed reducing non-merit
subsidies and surplus staff, while increasing the collection of taxes and
user charges.
The quality of public services keeps deteriorating, which is why ruling
parties keep losing elections. What election pundits call the anti-incumbency
factor is simply unrepentant non-performance.
This has been institutionalised since every outgoing regime believes that the
other side will fail to perform too, letting it return to power unreformed.
For many decades of planned development, the private sector was perceived to
have little money while governments were perceived to have very deep pockets.
The very opposite is true today. State governments are bust, and cannot
deliver even basic services like primary education and health.
Meanwhile, the private sector is able to take up the biggest projects ever.
Reliance has just built the biggest oil refinery in the world with no
government assistance at all. Individuals today shell out Rs 20 lakh or more
for luxury cars, but governments departments cannot afford even Ambassador
cars.
So, conventional wisdom has been turned on its head. Today, the central
government remains the most creditworthy of all entities.
But, clearly, individuals and companies, warts and all, are more capable of
paying their dues than all but a few state governments.
What implications does this have for FDI? Any foreign investor must carefully
survey potential customers first.
If the main or only buyer is a state government and this is the case for
power projects they should see this as a red flag.
Enron is not the only power producer that cannot collect. The NTPC cannot
collect in full from Kerala for power from Kayamkulam, and Andhra Pradesh too
is in arrears of payment for private power.
In all, state governments have run up arrears of Rs 40,000 crore to public
sector suppliers alone.
If states cannot pay Coal India, Bharat Heavy Electricals or the NTPC for
supplies, why should foreign investors except any better treatment? When
state governments refuse to honour even bank guarantees, can they be expected
to honour escrow commitments?
However, default does not plague other investments where the customers are
corporations or even small individuals.
FDI in ports is working, because port charges are payable by shipping
companies, not state governments. FDI in telecom is working because bills are
paid mainly by companies and individuals.
Toll roads are working too, because the tolls are paid by individual
motorists and truck drivers.
Finally, the central government remains solvent. So FDI in Railway equipment
or defence equipment looks safe enough.
The problem lies not with India as a whole, but with state governments in
particular.
So the real lesson for foreign investors is beware of any projects where
state governments are the sole or even important buyers.
Assume that a political culture of non-payment is spreading where state
governments regard the presentation of unpaid bills as an irritant rather
than a badge of shame.
Finally, do not confuse the bankruptcy of state governments with the
bankruptcy of India or individual Indians.

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

Powermen stage stir, demand Enron's exit
The Times of India News Service

06/27/2001
The Times of India
Copyright (C) 2001 The Times of India; Source: World Reporter (TM)

LUCKNOW: With an announcement to continue their agitation till the Enron is
chased out of the country, the power engineers and employees all over the
country observed 'Enron Bharat chodo Diwas' on Tuesday.
The call of the agitation was given by the National Coordination Committee of
Electricity Employees and Engineers (NCCOEEE).
The power men staged demonstrations in front of the Shakti Bhawan here.
Similar demonstrations and other protest meetings were also held at other
district headquarters of the state.
Addressing a meeting, the convenor of Vidyut Karmachari Sanyukt Sanghursha
Samiti, Shailendra Dubey, said that the privatisation experiment of the power
sector had totally failed and Enron was one of its examples. He said that the
Maharashtra Electricity Board had incurred a whopping loss of about Rs 2000
crore in one year because the generation cost of 744 MW capacity Dabhol Power
Project was Rs 8.26 per unit.
"As per the guarantee given by the Maharashtra government to Enron company
and the counter-guarantee given by the central government, if the Maharashtra
electricity board does not purchase power at such exorbitant rates even then
the board will have to cough up the capacity charge of Rs 95 crore per month
to the Enron company," explained the samiti leader.
He said that if the power agreement was not cancelled then not only
Maharashtra electricity board but even the Maharashtra state would become
bankrupt.
The meeting passed a resolution urging the UP Power Corporation not to
purchase power from the Enron under any circumstances.

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

European Markets
Europe Weighs Standard Gas-Trading Contract
By Germana Canzi
Dow Jones Newswires

06/27/2001
The Wall Street Journal Europe
12
(Copyright (c) 2001, Dow Jones & Company, Inc.)

LONDON -- Opening up Europe's gas market is slowly getting underway.
One crucial element is lacking -- a standardized short-term trading contract
that will help large customers to pick and choose the best offer in the
market, rather than remain shackled to a traditional long-term supplier.
Energy company representatives will gather in Amsterdam today to thrash out
such a contract.
"Due to the development of gas markets in Europe, especially in Germany, the
time is ripe for creating a standard European contract," said Joerg Spicker,
a spokesman for the European Federation of Energy Traders. Mr. Spicker is
managing director of the German subsidiary of Aquila Energy, a Utilicorp
United Inc. unit.
EFET members will create a "template" that could be used in all the trading
hubs around Europe, which are emerging as delivery locations for gas sold on
a short-term basis, Mr. Spicker said. An attachment to the standard contract
would specify which hub will be used for physical delivery of the gas.
"One hurdle to liquidity (in these hubs) is the lack of a standard contract,"
Steve Asplin, director for Benelux operations at energy firm Enron Corp.
said, adding that he sees the EFET initiative as a positive step forward.
The standard contract is likely to be in euros per gigajoules and will enable
counterparties in the trade to choose which domestic law -- German, Dutch or
English -- should apply to the contract.
By creating such a contract, EFET aims to replicate in the gas sector the
success of its two standard contracts for European electricity trading, which
were launched in 1999 and 2000 and are now widely used for the wholesaletrade
of electricity on the continent.
The standardization of contract terms is deemed essential for development of
spot markets in mainland Europe, following the blueprint set by the U.K.
since the 1980s and in Belgium since 1999.
In addition, the EFET initiative comes just one week ahead of another
industry-wide meeting in London, when representatives of European gas
industry will discuss the creation of U.K.-style trading hubs in northwestern
Europe.
Since earlier this year, small amounts of gas from the U.K., the Netherlands
and Norway have been sold on a short-term basis -- instead of through
traditional long-term contracts -- for delivery in places such as Emden and
Lampertheim in Germany and Oude Statenzijl and Bunde on the Dutch/German
border.
The development of short-term trading there been made possible by the gradual
opening up of pipelines through the so-called third-party access measures
imposed by the European Union's gas directive, which most member states
implemented by the August 2000 deadline.
Developments in the German market, which is estimated at 82 billion cubic
meters a year, have been closely watched by foreign companies wishing to sell
gas to large industries, which are now free, at least on paper, to move away
from their traditional long-term suppliers.
Today's meeting in Amsterdam will be largely attended by lawyers representing
EFET members, such as Germany's RWE AG, the U.S.'s Mirant Energy Corp,
Dynergy Inc. and Enron Europe Ltd.

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

Data Centre bubble bursts amidst dotcom meltdown
Saikat Chatterjee

06/27/2001
The Times of India
Copyright (C) 2001 The Times of India; Source: World Reporter (TM)

NEW DELHI: The birth pangs for the barely year-old domestic Internet data
center (IDC) industry have been painful, to say the least. The industry has
gone through enough euphoria and depression to last other industries a
lifetime. IDCs --which house thousands of servers in which companies borrow
space to host their websites -- are now grappling with few clients, empty
racks and missed targets.
Bucked up by the dotcom frenzy, companies pumped in thousands of dollars to
build IDCs only to find out that the market for webhosting services have
suddenly evaporated.
A classic example is Exodus itself--the company that pioneered the IDC
business. It took $3.5 billion in debt to go on a massive expansion plan only
to find out later that demand had dried up as its main clients, the dotcoms
were falling like ninepins.
Fortunately, Indian companies in this category remained relatively unscathed
as most of them had just started their business or were giving final touches
to their business plans when the ``irrational exuberance'' in the dotcom
arena came to an end in April last year. Though some did burn their fingers
they haven't been scarred.
However, not everyone was spared. EXATT, a start up that planned to offer
IDCs among other offerings, is reported to have shut down. Similarly, Enron
and Reliance which announced aggressive plans in this area are learnt to have
put a brake on their expansion plans.
Even though there are only a handful of players, the Indian IDCs are working
with grossly underutilised capacity ranging from 10-20 per cent depending on
the operator.
Despite the advantages of hosting your site in India, many Web hosting
companies still advise their clients to host abroad. ``Today a client has to
pay more for hosting in India as the bandwidth costs are astronomical
compared to the US. There is also a risk of losing traffic/business as the
response time is higher in India-based hosting in the absence of peering
arrangements between the major ISPs including VSNL,'' states Atul Gupta, CEO
of Pugmarks.
Contradicts Sify's Avinash Jayapraphu, VP hosting services, ``When the
traffic is India-centric it is best to host your site in India. We also have
peering agreements with VSNL in place.''
Explains Gupta, ``We (India) are burning a lot of premium bandwidth in double
circuit data flow in the absence of peering. Internet users of an `X' ISP
would need to go all the way to US and come back to India to fetch data from
a data center not connected to that ISP. It adds to the delays.''
Though churn rates are still low compared to US levels, almost every data
centre, especially the older ones have faced it.
Says Sanghi, ``Our only casualty has been Chaitime.com. But we've recovered
our dues from eVentures, which funded us as well as Chaitime.''
Similarly, Satyam acknowledges that so far two customers has dropped out but
argues it is small compared to its client base of 150 odd companies.
With most data centers crowding the corporate space business has been hard to
find. ``Given the market condition, it is difficult to win new clients. Even
corporates are delaying technology spending until the market looks up,'' says
Amit Goenka, CEO of Cyquator Technologies.
Nobody is thus talking about expansion plans. Not until the market looks up.
Will it be six months, one year? Your guess is as good as mine.

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

Enron plans to enter steel trading in India
Rumi Dutta & S Ravindran MUMBAI

06/27/2001
Business Standard
9
Copyright (c) Business Standard

The US-based power giant Enron Corp is planning to get into the steel trading
business in India. The decision comes at a time when it has been reviewing
its India plans and when the global steel industry is in the grip of a
recession.
Enron is actively looking out for steel traders in Asian countries like
India, China, Thailand, Japan and Korea, the company said through a recent
advertisement.
The company at present is into the power, gas, broadband, oil, coal, pulp and
paper, credit and equity derivatives businesses.
Enron is seeking to "change the way in which the global steel industry
transacts", steel industry sources added.
The company plans to focus on expanding the Asian market besides introducing
risk management and financial hedging products in the steel industry. At the
same time, to facilitate online business, a network platform is being put in
place. However, the Enron spokesperson was unavailable for comment.
The energy giant has put most of its India plans on the backburner except the
2184 mw Dabhol power project. The continuance of the project is under cloud,
too, as the Maharashtra government has set up a committee headed by former
Union home secretary, Madhav Godbole, to renegotiate the 1,444 mw second
phase of the project.
The future of another company, Metropolitan Gas, which laying gas pipelines
for transporting liquefied natural gas (LNG), too, is in doubt. Earlier,
Enron had pulled out of its joint venture with the Maharashtra State
Electricity Board (MSEB) and Global Tele-Systems to lay an optic fibre
network across the board's transmission lines.
Enron Oil and Gas is also planning to exit its operations in operations in
the Cambay basin and Panna Mukta oilfields. Although it is not clear why
Enron is planning to get into steel in the wake of a global recession
industry analysts say that it will not encounter one problem faced by its
power sector operations_an ailing state electricity board.
Over the last few months Maharashtra State Electricity Board and the Enron
-promoted Dabhol Power Company which is setting up the controversial power
project in the state have been locked in payment disputes.

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

New York Electricity Supplier Tests Gadget that Controls Heat Via Internet
Akweli Parker

06/27/2001
KRTBN Knight-Ridder Tribune Business News: The Philadelphia Inquirer -
Pennsylvania
Copyright (C) 2001 KRTBN Knight Ridder Tribune Business News; Source: World
Reporter (TM)

Ah, the 1990s: Sport-utilities ruled the roads. Computers, printers and other
office gadgets invaded homes. Energy to feed them was cheap and plentiful.
Conservation fell casualty to Americans' increasingly energy-dependent
lifestyles.
But indulgence came at a price: As consumers have discovered via soaring
gasoline prices and winter heating bills, payback time has arrived. And
deregulation of the electricity industry could lead to similar sticker shock
in coming years.
Now, New Power Co., a competitive electricity supplier based in Purchase,
N.Y., is giving consumers a way to prepare for that day. In Philadelphia and
Houston, it has begun testing an electronic gizmo that lets the utility
control home heating and cooling systems, plus some lights and appliances,
via the Internet.
Postal worker Bill Dobbins, who lives near the Franklin Mills Mall, is among
the 300 Philadelphia-area volunteers trying out the high-tech devices.
One, a remote temperature control, lets New Power adjust Dobbins' thermostat
via signals sent over the Internet by two to six degrees, so that his heating
and cooling system conserve power.
Dobbins said he joined the experiment because he's "interested in that type
of thing." Plus, "there's the monetary reward."
New Power is paying volunteers $25 to $75 to participate in the program
through September.
For New Power, which is backed by Enron Corp. of Houston, the money is a
pittance compared with the juicy customer data the test program should
reveal.
"What we're really interested in is consumer behavior," said Tim Vail, New
Power's vice president of energy technology solutions. "How does the consumer
use [the new system]? Do they use it?"
New Power and other electricity providers think the setup can save them big
bucks when supply on the electric grid is tight. Vail said the company is
examining how to share some of those savings with customers when and if the
program is delivered to a wider audience in coming years.
The company has divided this summer's test into three parts. The first uses
an automated electricity meter, which will keep tabs on a household's daily
energy use and help New Power understand typical consumption patterns.
The second part is a heating and air-conditioning control pilot, like the one
installed in Dobbins' home. It commandeers a consumer's thermostat and
adjusts it two to six degrees as directed by New Power. The consumer can
override the automatic commands.
"You can't give them a widget and ask them while they're in the middle of a
dinner party to sweat," said Lou Budike, president of Powerweb Technologies,
an energy software company in Media that is negotiating with New Power to
provide more-detailed usage information to consumers online.
Part three of the test lets consumers remotely change their thermostats or
switch lights on and off using any Internet device -- a trick, the company
says, that could come in handy for discouraging burglars and for conserving
power while away on vacation.
The centerpiece of New Power's experiment -- giving a utility the ability to
control customer devices when needed -- is actually a twist on an old theme
in the electricity business: Get enough large customers off the power grid
when demand is highest, and you greatly reduce the risk of blackouts.
Power on the wholesale market is also most expensive at times of day when
demand is highest. So getting big users off the system can save money for the
power company.
In New Power's experiment, a "big user" is actually a bunch of small
customers who have agreed to let New Power automatically adjust their
thermostats based on conditions in the regional energy market.
New Power calls the plan "joint energy management."
It remains to be seen, though, whether companies such as New Power can corral
enough small customers in this manner to turn a profit.
Even with small business customers, "the margin on that size of account is
not tremendous," said Jean-Louis Poirier, an energy analyst with PA
Consulting Group in Washington.
"The residential market is very difficult," Poirier said, because the cost to
sign on a residential customer can range from $200 to $700.
Still, he said these "demand-side management" programs have great potential
for savings.
"In the industrial and commercial market, many times you can save 15 to 20
percent with both changes in customer behavior and capital investment,"
Poirier said.
Under state law, retail prices for electricity in Pennsylvania are capped for
several years. For Peco Energy Co.'s customers, the cap lasts through 2006
for transmission and distribution charges and through 2010 for generation
charges.
After this safe harbor for consumers expires, utilities can pass along more
costs to their customers.
In a deregulated environment, this could mean alarming price increases if
consumer demand cannot be quickly reconciled with supply.
That, in simple terms, explains California's electricity crisis of the past
several months: Retail customers had no incentive to respond to the turmoil
in wholesale power markets until it was too late.
But generally speaking, customers on alternative plans that adjust rates
based on demand or time of day can receive big discounts or rebates over
plain vanilla rates -- if they use electricity at the right time.
For instance, consumers willing to dry clothes late in the evening instead of
during peak electricity use hours could pay less for the electricity they
use. Conversely, they could wind up paying more by running the dryer during
peak times.
It's an idea regulators want to see more of.
The Pennsylvania Public Utility Commission this year ordered all utilities
serving the state to implement programs that deal with the customer, or
demand, side of the energy equation.
While Peco has a time-of-use rate available for residential and other
customer classes, spokesman Michael Wood said it is not heavily marketed.
The company is, however, starting its own pilot program this month with 50
Delaware County customers, offering a "smart thermostat" similar to New
Power's. Peco will offer a discount to customers who let it raise their
thermostats two to four degrees for up to four hours at a time, when demand
for electricity is high.
"Without that, there's no strong incentive for consumers to conserve, when
they don't see the benefit on a real-time basis," Wood said.
Vail said New Power hopes to offer homeowners throughout its territory a
product based on the technologies in its pilot program by next summer.

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

Coal Cos Take Cautious View Of Nymex Coal Futures
By Christina Cheddar
Of DOW JONES NEWSWIRES

06/26/2001
Dow Jones News Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

NEW YORK -(Dow Jones)- The July 12 debut of a long-awaited coal futures
contract on the New York Mercantile Exchange has the potential to increase
the liquidity of the spot market for the commodity and the volatility of coal
prices.
However, some coal suppliers are cautious not to overestimate the impact the
event will have on the industry.
Still, analysts say the futures contract could attract more investor interest
to coal company stocks because it may increase the amount of information
investors have about the direction of coal prices.
Currently, about 20% of the nation's coal is sold in the over-the-counter
spot market, which includes trading exchanges run by Enron Corp. (ENE),
Williams Cos. (WMB) and Aquila Energy Corp. (ILA). While an over-the-counter
market existed for decades, it has gotten much more volatile in recent years
as supplies of coal tightened.
Some company officials and industry analysts believe the coal market has
never been in a better position for the introduction of a Nymex contract than
it is now because the current supply-demand balance is much more healthy for
the industry.
Years of a supply glut, and the low prices that followed, forced many coal
companies to shut down high-cost mines. Also, industry consolidation made the
surviving companies more efficient.
Over the past year, high natural gas prices and short supplies of electricity
in some regions further strengthened industry trends by increasing the demand
for coal from power producers, which can use coal to generate electricity.
Despite these favorable industry trends, vast differences in the properties
of coal will make it more difficult to trade than many other commodities,
analysts said. Types of coal are typically separated by region - for example,
East, West and Appalachian. The amount of sulfur, ash, moisture and volatile
matter in the coals also has an impact on how the fuel is priced.
"Coal is not a homogenous product by any means," said Michael Dudas, an
analyst at Bear Stearns & Co.
Also complicating the trading of coal contracts is the lack of flexibility
about where coal can be physically moved, said David Khani, an analyst at
Friedman Billings Ramsey & Co. "It will take an industry behind the scenes to
(make it work)," he said.
Another constraint is the industry's practice of signing long-term supply
contracts, which can sometimes stretch more than a decade. Some fear that if
too much supply remains locked into contracts, it will stall the building of
liquidity in the futures market.
In recent years, however, buyers have opted more often for supply contracts
that average three to five years in length. Often, these agreements include
options that allow the deals to be renegotiated if there is a dramatic change
in prices.
In order for coal to trade successfully, it will need to clear these hurdles.
Dudas warned that not every contract the Nymex launches succeeds, and said he
will be among those waiting to see how things develop.
"I'm not sure how much liquidity we might see in the start," he said.
Peter Ward, an analyst at Lehman Brothers Inc., also raised concerns about
liquidity. He said his initial perception is that it will be tough to trade a
coal contract because so little coal currently is traded in the spot market.
Others were more optimistic.
It may take a while to take off, said Morgan Stanley Dean Witter analyst
Wayne Atwell, but Nymex trading should make for a deeper market.
Khani said the contract is important for the industry because the equity
market needs to see easily where coal prices are trading.
"The price of coal is somewhat of an enigma to a lot of people," he said.
"(Investors) are making the judgment that coal prices fall with oil and gas
prices, but coal prices are holding very firm," he said. Coal Suppliers See
Futures As New Industry Tool

Some coal suppliers are less doubtful about the contract's ability to be
successful. However, they expect it will take some time before there is
enough interest to affect their earnings significantly.
Arch Coal Inc. (ACI) views the Nymex contract as a tool that it can use to
hedge its exposure in the market, said Henry Besten, vice president of
strategic marketing.
Although Besten expects the exposure on Nymex will increase the liquidity of
the current spot market for coal, he also said it is a natural extension of
the trading activity that already exists.
Besten also expects the exposure on Nymex will introduce financial players
into the market, which may increase the volatility of coal prices.
Although Arch will take advantage of trading opportunities to try to increase
its profits, the St. Louis company doesn't think of trading as a separate
revenue stream.
The event may ultimately be more significant for Peabody Energy Corp. (BTU),
which is a more active trader of coal.
About 3% of Peabody's revenue, and roughly 3% to 5% of its earnings, come
from its trading activities, said Vic Svec, a company spokesman. He added
that Peabody, the largest private-sector coal company in the world, doesn't
provide specific segment detail.
According to Svec, the St. Louis company began expanding its coal-trading
business once it saw the market was moving toward real-time trading.
Coal trading provides Peabody with an additional tool through which it can
fulfill its contracted orders, sell its uncontracted coal and produce a
sales-trading book of business, he said.
Svec said it was too early to determine what impact the Nymex contract may
have on its revenue growth.
"It has the potential to improve the liquidity in an emerging trading
market," Svec said.
It also may be too soon for others to judge as well. An official at Massey
Energy Co. (MEE), a Richmond, Va., coal company, declined to comment on the
upcoming contract and said the company was still "studying the situation."
Officials from several other coal companies didn't return phone calls asking
for comment.
The upcoming futures contract also will give large industrial users of coal
the ability to hedge their exposure to price swings in the market. Some large
coal consumers may decide to employ a variety of purchasing techniques,
including signing long-term contracts for a portion of their needs, while
fulfilling the remainder of their needs in the spot market.
-By Christina Cheddar, Dow Jones Newswires; 201-938-5166;
christina.cheddar@dowjones.com

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

Oregon Vote on Electricity Deregulation Delayed by Partisan Dispute

06/26/2001
Dow Jones Business News
(Copyright (c) 2001, Dow Jones & Company, Inc.)

SALEM, Ore. -- Oregon's final vote on a bill setting a March 1 start date for
partial electricity deregulation may be delayed several more days because of
an unrelated partisan dispute, the bill's sponsor said.
Oregon's House of Representatives was originally scheduled to vote Monday on
the bill that would give large business customers the option of retaining
regulated rates until July 2003 or buying power from competing electricity
suppliers beginning March 1, 2002.
But Democrats have boycotted the state's Capitol since Monday in protest of a
Republican-backed redistricting plan, said Representative Betsy Close (R.,
Albany). "It's unlikely we will get to the [deregulation] bill Wednesday,
though it could happen any day now," she added.
Since the redistricting plan lapses if it isn't acted upon by Sunday, Rep.
Close said a vote on the deregulation bill isn't likely to be postponed
beyond this week. "My guess is we'll vote by Friday. ... Once it comes to a
vote, the bill should pass easily," she noted, adding that she believed Gov.
John Kitzhaber supports the measure.
If the restructuring bill passes, state regulators will determine by late
July which customers of Enron Corp.'s (ENE) Portland General Electric Co.
unit and Scottish Power's (SPI) PacifiCorp qualify as "large businesses,"
said Bob Valdez, Oregon Public Utilities Commission spokesman.
Residential and small-business customers will continue to have regulated
rates.
Large customers were originally slated to be allowed electricity-generator
choice on Oct. 1, but Mr. Valdez said legislators want to revise the date to
ensure the state gets through its high-demand winter months without the
possibility of glitches caused by the new system.
The new date also ensures customers won't mistakenly attribute an unrelated
rate increase, also planned for Oct. 1, to the start of deregulation. The
rate increase is necessary because the Bonneville Power Administration, a
federal hydropower marketer which sells to the state's utilities, must buy
more power than usual in the high-priced spot market to meet burgeoning
customer demand.
Copyright (c) 2001 Dow Jones & Company, Inc.
All Rights Reserved

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

El Paso: Calif Supply Constraints Keep Gas Prices Up

06/26/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

HOUSTON -(Dow Jones)- Natural gas prices, at six-month lows across most of
the country, are still influenced by pipeline constraints in California, El
Paso Corp. (EPG) contended Tuesday.
"Demand for natural gas in California has exceeded available supply," said
Norma F. Dunn, El Paso's senior vice president of communications and
government affairs.
Dunn said a gas supply-demand imbalance "still exists in California," but not
because of transportation tariff agreements on the El Paso pipeline system.
El Paso's response to the high gas prices in California came a day after the
Federal Energy Regulatory Commission said it will investigate California's
gas infrastructure to determine why gas prices into the state are so much
higher than in other parts of the country.
"If you look at the map to see where prices are unusually high, you'll see
one place is northern California and the other is southern California," said
FERC Commissioner Pat Wood on Monday during a meeting with California
regulators and state officials.
Wood singled out gas transportation into and within the state as "something
of concern."
But reduction in demand and increases in supply, along with moderating
weather nationwide, have led to a fall in gas pricing nationally, according
to a press release from El Paso on Tuesday.
Dunn said because California doesn't have a sufficient pipeline
infrastructure, demand for gas in the state is still higher than the
available supply.
In June 2000, when El Paso Natural Gas Co.'s El Paso Merchant Energy unit
held transportation rights on the system, the natural gas price differential
between Texas and New Mexico producing regions and California was 27 cents,
only 5% of its present differential, Dunn said.
The differential from the producing region to New York on Transcontinental
Zone 2 Pool was 38 cents a year ago, and 45 cents this month, the company
said.
In the Midcontinent, El Paso said the price differential on NGPL-Midcontinent
pipeline, ANR-Oklahoma and Northern Natural Gas pipeline ranged from 25 cents
a year ago to 29 cents in June.
The company based its figures on industry pricing data.
El Paso Merchant Energy is one of about 30 companies that own capacity on the
El Paso line, including Enron Corp. (ENE), Dynegy Inc. (DYN), Duke Energy
(DUK), PG&E Corp. (PGC), Williams Energy (WMB), San Diego Gas & Electric Co.,
and Sempra Energy (SRE) units Sempra Energy Trading Corp. and Southern
California Gas Co.
Also, Dunn said, gas prices have fallen considerably in California since the
winter, with more electricity available from non-gas-fired generation,
including nuclear and hydroelectric facilities, cutting back a need for
gas-fired plant fuel. Energy conservation efforts have eased power demand,
and storage facilities across the country are filling at a record pace.
Recently, El Paso offered open seasons on lateral pipelines within California
and intends to expand its system in the state.
-By John Edmiston, Dow Jones Newswires; 713-547-9209;
john.edmiston@dowjones.com

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

Enron Corp. Dives Into Retail Canadian Power, Gas Markets

06/26/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

CALGARY -(Dow Jones)- Enron Corp. (ENE), the Houston-based energy marketing
company, launched Tuesday a Canadian retail natural gas and power subsidiary
in Calgary, looking to cash in on the deregulated electricity market in
Alberta.
The new unit, Enron Direct Canada Corp., is targeting about 100,000
industrial and commercial consumers in Alberta, seat of Canada's only fully
deregulated power market.
Enron Direct competes against two dozen established power marketing firms and
four natural-gas retailers already operating in the province, including
incumbents Epcor Utilities of Edmonton and Enmax Corp. of Calgary, which
Enron Canada Corp. President and Chief Executive Rob Milnthorp likened to
corner grocery stores.
"Being the largest wholesaler of natural gas and electricity in Canada gives
us tremendous strength that allows us to compete in the retail sector,"
Milnthorp said at a press conference Tuesday. "Volume buyers can offer better
prices than a small grocery chain on the corner."
Lisa Doig, manager of energy procurement with Calgary-based Optimum Energy
Management Inc., called Enron's entry into Alberta refreshing, particularly
for the smaller commercial consumer who has largely been ignored in terms of
contract options by most of the energy marketers.
"When you bring someone with a completely different perspective on to the
playing field, it brings competition to a new level," Doig said.
Enron has been participating in Alberta's deregulated market since April,
having laid the groundwork last year when it secured a 20-year contract for
700 megawatts from the coal-fired Sundance generation plant in northcentral
Alberta.
The C$300 million power purchase arrangement was part of the provincial
government's plan to increase market competition in Alberta, which was opened
in January.
Calgary-owned Enmax bought a 760-MW, 20-year contract in the same electricity
auction, and an undisclosed amount of power during a subsequent power auction
in the autumn. Spokesman Tony McCallum said the utility feels quite
comfortable with its electricity portfolio and position in the market.
"Competition is a fact of life," McCallum told Dow Jones Newswires. "Enron
coming in shows deregulation is working in Alberta."
Enmax's first-quarter revenue of C$400 million was almost triple its revenue
for the same quarter in 2000, with a 25% increase in volume of power sold.
About two-thirds of Enmax's customer base is commercial and industrial.
Optimum Energy's Doig said she hopes Enron Direct enters Alberta's
residential market soon to shake up incumbents' complacency. While the
province is admittedly one-eighth the size of the Ontario market, Alberta is
a good stepping stone for Enron, she said.
That would put Enron in place to buy Alberta's ATCO gas and power retail
outfits, put on the block early this month, representing the bulk of the
province's residential customers. But ATCO Group's communications director,
Catherine Drever, flatly denied Monday the utility was being acquired by
Enron.
Darren Cross, Enron Direct's chief operating officer, said the company might
look at targeting residential customers in the future, but is focussed on
commercial and industrial power needs - representing businesses' largest
expense after payroll - for present.
"The idea of being able to lock your commodity in and be able to budget
around what you're going to pay for that commodity, on a go-forward basis,
for 1-5 years is invaluable for businesses," Cross said.
Enron Direct's plans to enter Ontario have been put on hold until a fixed
market opening date is announced by the provincial government.
Milnthorp previously said the building of an Enron-proposed co-generation
plant in Ontario is being threatened by the lack of government commitment to
deregulation.
"We want an unconditional market opening date," he said.
Enron has no immediate plans to add to Alberta's generation mix, Milnthorp
said.
-By Dina O'Meara, Dow Jones Newswires; 403-531-2912 dina.omeara@dowjones.com

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

Enron to Start Commercial Power, Gas Sales in Alberta (Update1)
2001-06-26 16:26 (New York)

Enron to Start Commercial Power, Gas Sales in Alberta (Update1)

     (Closes shares.)

     Houston, June 26 (Bloomberg) -- Enron Corp., the biggest
energy trader, has started selling electricity and natural-gas
supply contracts to companies in Alberta, the Houston-based
company's first direct sales effort in Canada.
     Enron, already Canada's biggest wholesale marketer of gas and
electricity, will offer long-term, flexible contracts to
businesses in Alberta, said Rob Milnthorp, chief executive of
Enron's Canadian unit. The company has already started marketing
the energy contracts to Alberta's 100,000 businesses.
     The company said Alberta businesses use about 120 million
gigajoules of gas a year and about 2,800 megawatts of electricity
an hour. A megawatt is enough to light about 1,000 average U.S.
homes.
     Alberta opened its energy markets to competition this year,
the first of Canada's provinces to do so. It later placed price
caps on retail electricity prices that are set to expire next
year.
     Enron Direct won't immediately sell energy to retail
customers in the province, Milnthorp said.
     ``Right now we're in the commercial marketplace. The
residential market will be evaluated,'' he said.
     Enron bought the output of a central Alberta electricity
plant for C$294.8 million ($194.6 million) in a province-run
auction of power generating plants in August. Milnthorp said Enron
will spend a further C$1 billion to operate the plant over the
life of the 20-year contract.
     The Sundance B plant, owned by TransAlta Corp., produces
about 706 megawatts, enough to light 706,000 average U.S. homes.
Enron has been selling power from the plants on a wholesale basis
through Alberta's power grid.
     Since 1990, the company has been buying natural gas from
producers in Alberta, the biggest exporter of the fuel to the U.S.
Under the government's deregulation plan, it can to sell gas
directly to customers using existing pipeline.
     Shares of Enron rose 12 cents to $44.19.

Enron Says Indian Court Defers Decision on Jurisdiction
2001-06-26 18:35 (New York)

Enron Says Indian Court Defers Decision on Jurisdiction

     Houston, June 26 (Bloomberg) -- Enron Corp. said an Indian
court deferred a decision on whether a regulatory agency has the
jurisdiction to rule in a dispute between the company and a
regional government that is refusing to pay its power bills.
     The Mumbai High Court gave the Maharashtra Electricity
Regulatory Commission, the regulatory agency, six weeks to decide
whether it has jurisdiction to settle a dispute on termination of
the seven-year-old power-purchase agreement. Enron called the
ruling ``positive.''
     Enron owns Dabhol Power Co., owner of a $3 billion power
plant in Maharashtra state. The project's sole customer is the
Maharashtra State Electricity Board, which said May 24 that it's
canceling an agreement to buy power from the Dabhol plant.
     The cancellation came after Dabhol Power started proceedings
to end the contract. The board owes 3 billion rupees for power
supplied in December and January.
     Dabhol Power argued that the board didn't have the right to
terminate the contract, and the Maharashtra board referred the
dispute to the commission.
      Dabhol Power sued, arguing that the commission was created
in 1999, after the power purchase agreement was signed, and
therefore doesn't have the authority to decide the dispute.
     ``We are pleased that the court saw the need for timely
action,'' Enron spokesman John Ambler said. ``We continue to have
confidence in the fairness of the court system in India and will
take the steps necessary to satisfactorily resolve the issue.''
     Shares of Houston-based Enron, which owns 65 percent of
Dabhol Power, rose 12 cents to $44.19.


My time is my own.  I make efficient use of it, and I still have no time for
reading novels.  If you are inquiring about time that I may have been out of
the office during the two week period ending today, I was out on Vacation one
day, that being March 9, 2001.  Any questions?

	Becky Spencer
	03/16/2001 11:24 AM

		 To: Dan J Hyvl/HOU/ECT@ECT
		 cc:
		 Subject: Where's your time?

I need your time for the pay period 3-1 through 3-15 by 5:00 p.m. on Thursday
(the 15th).  Please reply to this e-mail with any time exceptions such as
vacation, sick, personal, jury duty, etc.  Basically, any time not working!
Thank you!


Neil,

I would like to apologize for the confusion regarding Anshuman.
We have floated a number of possible scenarios regarding his
trip to Houston and there was a lot of confusion
regarding the terms (given that I was talking to Sandeep
every few days).

Currently, we expect Anshuman to come   to Houston for one month
to work on the DPC  project (at Jeff Shankman's request). The lawyers advised
me that we need an L1  visa  for him, irrespective of the duration
of  his stay.

Sorry for the confusion.

Vincent Kaminski
Managing Director - Research
Enron Corp.
1400 Smith Street
Room EB1962
Houston, TX 77002-7361
Phone: (713) 853 3848
Fax  :  (713) 646 2503
E-mail: vkamins@enron.com


where are you woman?   call me......


that is absolutely disgusting.  i see that you are getting in a better mood.  so how was your smoke?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Wednesday, November 21, 2001 11:14 AM
To:	Nelson, Michelle
Subject:	RE:

then you shouldnt sit on his lap, there are extra chairs up here

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Wednesday, November 21, 2001 11:12 AM
To:	Maggi, Mike
Subject:	RE:

what?  mark smith makes me ill.  i hate coming up there to talk to him.

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Wednesday, November 21, 2001 11:12 AM
To:	Nelson, Michelle
Subject:	RE:

to check out the weather

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Wednesday, November 21, 2001 10:59 AM
To:	Maggi, Mike
Subject:	RE:

where did you go?  i saw you leave

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Wednesday, November 21, 2001 10:42 AM
To:	Nelson, Michelle
Subject:	RE:

i am so ready to get out of here

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Wednesday, November 21, 2001 10:30 AM
To:	Maggi, Mike
Subject:

it smells like something is on fire down here.  and don't say that it's my brain.


"paulhastings.com" made the following annotations on 04/24/01 15:59:29
------------------------------------------------------------------------------
NEW E-MAIL ADDRESSES AT PAUL, HASTINGS, JANOFSKY & WALKER LLP

We have changed our e-mail address.  Our new domain name is
paulhastings.com.  In most cases, our address is composed of
conventional first name and last name plus @paulhastings.com.  Here are
two examples: janesmith@paulhastings.com and danjones@paulhastings.com.
If you have any questions, please contact us at noc@paulhastings.com.

==============================================================================
"The information transmitted is intended only for the person or entity
to which it is addressed and may contain confidential and/or privileged
material. Any review, retransmission, dissemination or other use of, or
taking of any action in reliance upon, this information by persons or
entities other than the intended recipient is prohibited. If you
received this in error, please contact the sender and delete the
material from all computers."

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

Attached is the  execution copy of the Letter Agreement.?? We will insert
the  appropriate date upon execution and delivery of? such  agreement.
?
Please contact me  with any questions or comments regarding this matter.?

************************************************
Jeremiah A. DeBerry, Esq.
Paul Hastings Janofsky & Walker  LLP
399 Park Avenue
New York, New York 10022
Phone: (212) 318-6458
Fax:???? (212)  319-4090
?
 - 757J05!.DOC


Yes, thanks I really am.  I can talk much better even though I wouldn't say
that it's totally normal yet.  I am going to message you about some eot gas
for next month!

-----Original Message-----
From: Tholt, Jane M. [mailto:Jane.M.Tholt@ENRON.com]
Sent: Tuesday, November 27, 2001 12:29 PM
To: cweyman@astraoil.com
Subject: RE: thank you

Are you feeling better today?

>  -----Original Message-----
> From: 	Cheri Weyman <cweyman@astraoil.com>@ENRON
> Sent:	Tuesday, November 27, 2001 11:49 AM
> To:	Tholt, Jane M.
> Subject:	RE: thank you
>
> Cute Thank you note, Janie dear!!!
>
> -----Original Message-----
> From: jane.m.tholt@enron.com [mailto:jane.m.tholt@enron.com]
> Sent: Monday, November 26, 2001 11:30 AM
> To: cweyman@astraoil.com
> Subject: thank you
>
>
>
> Hello!  jane.m.tholt@enron.com has just sent you an Egreetings.com
> card!
>
> To view your greeting, simply click on this pickup window link:
>
> http://www.egreetings.com/view.pd?i=73735526&m=8222&rr=y&source=eg999
>
> If your e-mail doesn't recognize the above address as a link, simply
> copy
> and paste it in your browser address window.
> If you need further help, visit our Help pages at
> http://egreetings.custhelp.com/.
>
> Your Friends at Egreetings.com
>
>

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


Steve;

Just a few last minute questions:  as regards MD pre-ratings,  at present
only 32 of 81 MD,s are pre-rated; 49 are not.    Do you want them placed on
the screen in their pre-rating category?  Do you want all MD,s prerated?  If
so we,ll need to chase up with the various BU,s.

As regards Accomplishments, only 24 of 81 MD,s have completed the
accomplishments section, 57 have not.

Finally, do you want the MD meeting to comprise two sessions i.e. Commercial
and all other Peer Groups (as at yend), or do you want separate sessions?
Likewise, we can set the system up in all combinations, and you can decide on
the day of, if that suits you.

Look forward to hearing from you at your earliest convenience.  Gina


Ron

Thanks for your help with my house purchase.  Please forwad an bill to me at
Enron (location eb3324).


Sara,

As we discussed, we  would like to notify our customers of our current status and our ability to look after them.  Here is a brief summary of the services contracts and obligations that we currently have along with the notification letter we would like to send them.  Please let us know if we are ok to send these out.

Thanks,

Tom.

MDEA
purchase power for the cities
purchase and schedule gas as agent to supply the cities generating units
real-time operational coordination via our control room to balance the cities load and resources

MDEA relies entirely on EPMI for this as they have no other enabling agreements or marketing/scheduling capability.  We are no longer able to purchase power for them but are able to schedule gas as their agent.  The sities could incur signifigant imbalance charges as a result of our inability to perform.

QSE Customers

Green Mountain Power (BP Energy), New Power Company, XERS (starts Jan 1)

We schedule all power contracts with ERCOT
We settle all charges and payments with ERCOT (ERCOT settles with EPMI and EPMI settles with customer)

Frontera

We market the output of the Frontera plant (450 MW)
We buy to suppy Frontera's obligations (call options to EPMI and Mirant) when the market is below Frontera's cost.
We schedule all transactions as QSE

Frontera has no other enabling agreements and relies on EPMI for all trading activities.


I would like to take this opportunity to thank each of you for your
participation in the Stanford Associate interviews last week.  Our efforts
resulted in 6 summer associate offers and 1 full-time associate offer.
Althea Gordon will be e-mailing you the names of the individuals who will
receive offers.  We would like you to contact these individuals to
congratulate them and encourage their acceptance.  Althea will match you up
with the candidates you interviewed and provide you with contact information.

Althea has verbally contacted both the offers and the declines.  We will be
sending out both offer letters and decline letters by end of day Tuesday,
March 20.  In the meantime, should any of you be contacted by students who
did not receive an offer, I recommend the following verbal response:

"Our summer program is highly competitive, forcing us to choose a smaller
number of candidates from a highly qualified pool.  Our summer hiring this
year will be between 35-40 associates.  The full-time program typically hires
between 80-90 associates.  Given that you made it this far in our selection
process, I would strongly encourage you to apply in the fall for the
full-time associate program."

We will keep you informed via e-mail of our acceptance rate at Stanford.

Again, thank you for your support.  We look forward to working with you on
potential future Stanford recruiting events.

Regards,
Celeste Roberts


To:	All ENW Employees

From:	Greg Piper and Mark Pickering

Please print and become familiar with the updated ENW T&E Policy, which is attached.  Changes to the policy include business-first travel,
with supervisor approval, for international flights over 4 hours in duration (excluding Canada and Mexico).  Supervisors will be responsible for making the decisions and bearing the expense for business-first travel.

If you have any questions about the policy or an expense not covered under the policy, please contact Tina Spiller or Lisa Costello.


Sara,

Thanks for the update.  I have had some brief discussions with Mark
Tarkington who has provided me a fax of credit issues under discussion.  Why
don't we sit down to discuss prior to the call on Wednesday.  My
understanding is that we will negotiate one ISDA for ENA and mirror the terms
for ECT Investments, ETRIC, etc.

Bill

From: Sara Shackleton on 09/11/2000 05:09 PM
To: William S Bradford/HOU/ECT@ECT
cc:
Subject: Deutsche Bank

Bill:  I will fax to you the stair-step threshold in the DB Credit Support
Annex.  DB made a change and we cannot locate info in Carol St. Clair's
file.
Also, I am checking the guaranty and other changes marked by DB.

Please note that I frequently see credit derivative deals between ECT
Investments, Inc. and DB (unclear where EnronCredit.com Limited fits into
thiis Houston picture!) where DB is requiring an ENE guaranty as well.  Do we
need an ISDA here?

Thanks.  Sara


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To remove your name from the list, please click here: http://em10.net/UM/CMF.asp?A21.65.681659


Among other changes, please note the time changes for this evening.

Thanks,
Joannie
3-1769


Hey:
Hope you're enjoying the Holidays.   I don't have your cell phone #, so call
me if you get bored this week.  Sorry I didn't return your call Monday.  I'll
be in the Big D.  You can reach me on my cell or, better yet, at 972 934 3440.
Adios amigos:
John


Start Date: 1/25/02; HourAhead hour: 16;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002012516.txt


Looks good to me.  Enjoy!

Marie Heard on 12/03/98 09:08:31 AM
To: Mark - ECT Legal Taylor/HOU/ECT@ECT
cc: Janet Dobernecker/HOU/ECT@ECT
Subject: Vacation Request

I would like to schedule Tuesday, December 15 through Friday, December 18 as
vacation.  Please let me know if there is a problem.

Thanks!

Marie


you should believe me

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Monday, November 26, 2001 10:19 AM
To:	Maggi, Mike
Subject:	RE:

what about me?  you are the one who tells me not to worry about anything and I actually believe you.  and you are really looking out for yourself.  and you call yourself a co-worker!

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Monday, November 26, 2001 10:18 AM
To:	Nelson, Michelle
Subject:	RE:

why is that not fair

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Monday, November 26, 2001 10:15 AM
To:	Maggi, Mike
Subject:

See I am the one looking out for you!  That's not very fair!


Bob -

Please take a look at the attached revisions and confirm these are
acceptable.  If so, I intend to send these documents to Carol Wilhelm today -
in final form - to have them completed by Natsource.

Mark
Senior Counsel, ENA
Phone:     713-345-8897
Facsimile: 713-646-3940
E-Mail:      Mark.Greenberg@enron.com


Kenneth L Lay, here is how you reach the best and brightest locally active
and passive candidates with experience  in:

* Applications
* Internet/Intranet
* e-Commerce
* Networking
* Telecommunications
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* Electronics
* Semiconductor
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* Software
* Computer Hardware
* Multimedia

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South Central Industry and Employment Forecast in PC Magazine to help them
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This highly sought-after annual forecast features industry trends, the area's
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Advertising in this special section guarantees the largest audience of active
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This issue of PC Magazine, with a reach of 6.6 million readers, will be
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Reserve Space Today
Materials Due by December 4

For additional information and/or space availability
Contact: Terry Preston, National Sales Manager
tpreston@rcimedia.com
561.686.6800 x256

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

=================================================================
This information has been e-mailed to keep you
apprised of recruitment-advertising opportunities
designed to get your hiring needs in front of
hard-to-find candidates.
If this information is not suitable for your area
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Good luck in your new job.  I've had fun teasing...I mean working with you.

Robin


Brad,

What's up cuz?  Are the lights on in San Francisco?  I think it's only a
matter of time before the national guard comes in to prevent rioting in the
streets!

Anyway, I was just wondering what plans you have in the next month or so
because I want to go someplace and do something, but I'm just not sure what
yet.  I have a bunch of vacation I need to take and I'd rather not sit around
here and twidle my thumbs.  Let me know if you have any suggestions.

Mat


Kristina:

I'm sorry too!
However, I also sent your application through Houston and it may end up with
a different group.  I'll keep my fingers crossed (not just for Enron) because
I know you'll find an exciting position with a good company.
Hope all is well.  I just returned from a week in California and I'm having a
hard time adjusting to the office.
Regards.

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

	"kristina fisher" <krifisher@hotmail.com>
	05/09/2001 01:13 PM

		 To: Sara.Shackleton@enron.com
		 cc:
		 Subject: Fwd: Re: Online application

Hi Sara:
Thanks for trying but appears as if they were looking for a technical
trading person to participate in the associates and analysts program...too
bad. I thought perhaps ebusiness or the like would have been fun.
I'll keep you posted on any future news from them.
Kindest Regards,
Kristina

>From: Michelle.Kingsbury@enron.com
>To: "kristina fisher" <krifisher@hotmail.com>
>Subject: Re: Online application
>Date: Wed, 9 May 2001 18:11:41 +0100
>
>
>Kristina
>
>I have spoken to my colleagues concerning possible roles in Marketing and
>Business Development that may be of interest to you. Unfortunately there
>are no roles which match your career aspirations at present. However, we
>will keep your details on file and contact you if any suitable positions
>arise.
>
>Good luck with your job search and thankyou for your interest in Enron
>
>Regards
>
>Michelle Kingsbury
>
>
>
>
>
>
>"kristina fisher" <krifisher@hotmail.com> on 27/04/2001 18:13:46
>
>To:   Michelle.Kingsbury@enron.com
>cc:
>
>Subject:  Re: Online application
>
>Dear Michelle:
>Thank you for your email and phone message. I am presently visiting my
>parents in New Orleans. I would be available for a phone conversation on
>Tuesday. The telephone number is +504.283.1652. New Orleans has a 6 hour
>time difference with London. It is best to reach me in the morning, perhaps
>
>9AM my time would work for you? Please let me know if that is convenient.
>Kindest Regards,
>Kristina
>
>
> >From: Michelle.Kingsbury@enron.com
> >To: krifisher@hotmail.com
> >Subject: Online application
> >Date: Fri, 27 Apr 2001 17:45:14 +0100
> >
> >Kristina
> >
> >Many thanks for your on line application for the Enron Europe's A&A
> >programme.
> >
> >I tried to call you  this afternoon and have left you a message on your
> >answer phone. I would be keen to have a telephone conversation with you
> >next week and am contacting you to schedule an appropriate time.
> >
> >It may be easiest if you specify a time that I could contact you.
>Currently
> >the most likely availability in my diary is for Tuesday, if this is
> >convenient for you.
> >
> >Regards
> >
> >Michelle Kingsbury
> >
> >
> >
> >
>
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Dear Ken,

Good morning.  Today is a new day!  I know yesterday and the entire past week have been extremely difficult for you, your family, and the entire Enron family.  I just wanted you to know that I'm keeping you in my thoughts and prayers.  We all are extremely fortunate to have you as a leader and continue to support you stronger than ever as you navigate us through this time.  As you mentioned yesterday, times like these make us stronger and build character - so important for all employees to remember.  Please know that I will do whatever possible to carry that message forward.

Best Regards,

Kathy

*Vanilla has always been my favorite flavor!