Viacom Drops Blockbuster Split-Off Plan --- Rebound in Video Business
Produces an About-face In Strategy for the Unit
The Wall Street Journal, 03/28/01

Bush Names 2 to Panel Monitoring Energy Markets
The New York Times, 03/28/01

Enron pays Lay $7 million bonus for 'strong' year
Houston Chronicle, 03/28/01

JAPAN: Enron presents power plant plan to Japan govt.
Reuters English News Service, 03/28/01

Enron's Japan Venture Submits Pwr Proj Plan To Local Govt
Dow Jones Energy Service, 03/28/01

Dubai "Desperate" For Gas To Power Its Industries - ENOC
Dow Jones International News, 03/28/01

India: Centre may bar States' direct access to funds
Business Line (The Hindu), 03/28/01

PowerGen, Enron exit race for Vijayanagar project pie, L&T wooed
Business Standard, 03/28/01

Enron foraying into wind power via subsidiary
Business Standard, 03/28/01

Big Rate Hikes
Los Angeles Times, 03/28/01

CEO says Texas in good shape for electricity deregulation
Associated Press Newswires, 03/27/01

Power companies gear up for deregulation pilot program
Associated Press Newswires, 03/27/01

USA: Enron CEO says Calif. rate hike will help.
Reuters English News Service, 03/27/01

USA: Enron rewards Lay with $7 mln bonus.
Reuters English News Service, 03/27/01

Powergen, Innogy Look to Profit From New Power System (Update1)
Bloomberg, 03/27/01

Enron CEO Sees 2001 Revenue at $160 Billion to $170 Billion
Bloomberg, 03/27/01

U.S. Companies Push for Private Lenders to Finance Exports
Bloomberg, 03/27/01

Viacom Drops Blockbuster Split-Off Plan --- Rebound in Video Business
Produces an About-face In Strategy for the Unit
By Martin Peers
Staff Reporter of The Wall Street Journal

03/28/2001
The Wall Street Journal
A3
(Copyright (c) 2001, Dow Jones & Company, Inc.)

NEW YORK -- Viacom Inc. is finally giving up on its long-stalled plan to
split off its Blockbuster Inc. unit, saying that the video-rental giant's
business has turned around so well in the past few years that it wants to
keep it.
For more than a year Viacom has said it was waiting for a recovery in
Blockbuster's stock -- long stalled below its offering price -- before it
went ahead with previously announced plans to split off the remaining 82.3%
of the publicly traded unit. But Viacom now has "no plans" to do the
split-off, Viacom President Mel Karmazin said in an interview. Mr. Karmazin
said the change in Viacom's attitude largely reflects a significant
turnaround in Blockbuster's core video-rental business.
"Blockbuster has been picking up market share and growing the business," Mr.
Karmazin said, adding that Viacom was "very enthusiastic about its future
prospects."
Viacom will formalize its new stance in its 10-K annual report, expected to
be filed with the Securities and Exchange Commission in the next couple of
days.
Viacom's change of mind is likely to spark speculation that the company will
make an offer to buy the 17.7% of Blockbuster stock outstanding that is in
the public's hands, to make it easier to tap the cash now being generated by
the chain. Mr. Karmazin declined to comment on that yesterday.
It is the latest twist in Viacom's long saga with Blockbuster. When Viacom
originally acquired the business in 1994, it hoped it would be a cash cow
that would help pay for the Paramount Communications acquisition that year.
But instead, Blockbuster turned into a problem child, as growth in the video
market ground to a near halt and the unit spent most of its cash on building
new stores. By 1997, it was a drag on Viacom's stock.
But the situation has turned around. Blockbuster's video-rental business is
growing strongly while many of Viacom's advertising-dependent businesses,
especially television and radio, are likely to be affected by the weakening
economy. Blockbuster has been able to grab market share, reflecting fading
competition from other chains and independent stores. It also has scaled back
its store-building plan, so it is generating cash.
Although Viacom started talking about creating a separate stock for
Blockbuster in 1997, it wasn't until August 1999 that Viacom sold a minority
stake in an initial public offering. At the time Viacom planned to unload
within about a year of the IPO its remaining Blockbuster holding by offering
Viacom shareholders a chance to exchange their shares for stock in the
video-rental unit.
But the IPO didn't do as well as expected. With new technologies on the
horizon such as video-on-demand, Blockbuster was seen as vulnerable, and
investors weren't attracted to the stock. Within months of the offering,
Blockbuster stock was trading below the $15-a-share offering price, which
damped Viacom's enthusiasm for proceeding with the rest of the split-off. By
the end of 1999, Viacom said it wouldn't proceed with the split-off unless
Blockbuster's stock price rose above $20.
Blockbuster's stock remains considerably below the $20 mark, meaning that the
unit might not have been fully split off in the near term anyway. And Viacom
could always change its mind if conditions shift again. But for now,
Blockbuster appears to be solidly part of the Viacom family.
Blockbuster stock rallied sharply in the first couple of months of this year,
from around $8 at the end of last year to a high of $15.10 in late February.
Its shares rose six cents to $13.30 as of 4 p.m. yesterday in New York Stock
Exchange composite trading. Salomon Smith Barney analyst David Riedel said
the rally reflected Blockbuster's performance and expectations that it will
report a "phenomenal" first quarter.
Mr. Riedel said he expects Blockbuster to report EBITDA of $582 million this
year, including losses on new media, on revenue of $5.36 billion. Last year
the unit generated EBITDA of $534.8 million on revenue of $4.96 billion. By
comparison, in 1997 Blockbuster had EBITDA of $207.9 million on revenue of
$3.3 billion. EBITDA, often referred to loosely as operating cash flow, is
earnings before interest, taxes, depreciation and amortization.
John Antioco, who took over as chief executive of Blockbuster in mid-1997 and
is credited with overseeing the comeback, said Blockbuster's U.S. market
share has risen to 36% at the end of last year from 26% in 1997. He said the
company expects Blockbuster's share to approach 40% by the end of this year
and to rise to 50% over the next three years.
Meanwhile, the specter that new electronic services would hurt Blockbuster
has faded. Blockbuster's own efforts to roll out a video-on-demand service
with energy concern Enron Corp. were recently terminated, although
Blockbuster says it continues to experiment with VOD.
Business is so strong that Blockbuster now is having to deal with a new
problem: long check-out lines at stores, where in some cases customers have
had to wait for 45 minutes. Mr. Antioco said Blockbuster was working to
relieve capacity problems, noting that the amount of business in the average
Blockbuster store has grown 35% in the past three years.

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

National Desk; Section A
Bush Names 2 to Panel Monitoring Energy Markets
By JOSEPH KAHN

03/28/2001
The New York Times
Page 14, Column 2
c. 2001 New York Times Company

WASHINGTON, March 27 -- President Bush named two new commissioners today to
the federal agency that oversees electricity markets, a move that could lead
to a shift in the agency's largely hands-off approach to California's power
crisis.
Mr. Bush named Patrick H. Wood III, head of the Texas Public Utility
Commission and a longtime ally of the president, to fill a vacant seat on the
Federal Energy Regulatory Commission. The president also named Nora M.
Brownell, who serves on the Pennsylvania Public Utilities Commission, to fill
a second open slot on the commission.
Both appointees, who face confirmation by the Senate, are Republicans who
support free markets for natural gas and electricity. But Mr. Wood has said
he believes that the agency needs to do more to ensure well-functioning
energy markets in California and other places or risk seeing deregulation
fail entirely.
''On our best day as regulators, we cannot deliver benefits to customers as
well as a functional market can,'' Mr. Wood said in a statement today, ''but
the market must work right first.''
Mr. Wood, who has overseen the restructuring of the electricity industry in
Texas, supported the imposition of a price cap of $1,000 per megawatt-hour
for wholesale electricity sales there. The measure was designed to ensure
that prices did not spiral out of control in periods of high demand or low
capacity, as they have in California. At times in the last year, wholesale
electricity in California has sold for thousands of dollars per
megawatt-hour.
Mr. Wood also supervised deregulation of telecommunications in Texas, an
effort that earned him a reputation for working to ensure a competitive
market.
Curt Hebert Jr., a fellow Republican who is the federal commission's
chairman, has consistently opposed price caps. Mr. Hebert has contended that
high prices in California reflect supply and demand, not price gouging by
power companies, though he has recently supported his agency's policy to
curtail the highest prices charged during hours of the most acute electricity
shortages.
Many Congressional officials and energy industry lobbyists said they expected
Mr. Bush to name Mr. Wood to replace Mr. Hebert as chairman in the coming
weeks. But his administration took no action on that front today.
''At this time, the makeup and leadership of the commission will stay as it
is,'' said Anne Womack, a White House spokeswoman.
The question of who will lead the agency has led to a political tug-of-war
between the president and the Senate majority leader, Trent Lott, several
Congressional and industry officials said. Mr. Lott has strongly backed Mr.
Hebert, who like the majority leader is from Mississippi.
Mr. Hebert issued a statement welcoming the new commissioners. His spokesman
declined to comment on whether Mr. Hebert expected to stay on as chairman,
calling it speculation.
The appointments come as the low-profile agency has come under heavy pressure
to intervene in California, where wholesale electricity prices have risen
more than tenfold in the last year.
The agency has the mandate to ensure ''just and reasonable'' electricity
prices. But it has wielded its regulatory club with great reluctance, in part
because Mr. Hebert has opposed intervention in the marketplace.
The agency staff has often decided against investigating power generating
companies, though state regulators in California and elsewhere have charged
that companies routinely manipulate experimental auction markets for
electricity.
The agency took its first substantial enforcement action in California
earlier this month, asking generators to justify some of their prices or pay
refunds that could total $124 million for January and February. But one of
the three sitting commissioners and many outside analysts criticized that
action as arbitrary and limited in scope.
Some critics of the agency expressed optimism that Mr. Wood would bring a
fresh perspective.
''Pat Wood has an entirely different approach than Hebert,'' says Mark Cooper
of the Consumer Federation of America, a watchdog group. ''He's committed to
markets, but he is willing to do things to make sure the markets work. He not
just an ideologue.''
He was less supportive of Ms. Brownell, who he said has been ''unwilling to
recognize'' problems in a Pennsylvania electricity restructuring program that
has led to higher prices there.
Energy industry officials said they supported both new appointments. Joseph
Hartsoe, vice president for federal regulatory affairs at the Enron
Corporation, said that under Mr. Wood, Texas did a better job of
restructuring its electricity markets than California has.
He said Mr. Wood's ties to Mr. Bush could give him the credibility to push
through changes to energy markets around the country.

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

March 28, 2001
Houston Chronicle
Enron pays Lay $7 million bonus for 'strong' year
Reuters News Service
WASHINGTON -- Electricity and natural gas marketing company Enron Corp.,
coming offan "extremely strong" 2000, rewarded Chairman Kenneth Lay with a 79
percent boost to his bonus, Enron said Tuesday.
Lay's 2000 bonus shot up to $7 million from $3.9 million in 1999, the
Houston-based company said in its annual proxy statement filed with the
Securities and Exchange Commission.
"In recognition of Enron's extremely strong performance during 2000 relative
to recurring after-tax net income and other financial measures, Mr. Lay
received a cash annual incentive award of $7,000,000," the company said.
Lay's base salary last year was $1.3 million, unchanged from 1999.
He also received $7.5 million in restricted stock awards as well as options
for 782,830 shares that could be valued at $35 million if Enron's stock
appreciated 10 percent annually.

JAPAN: Enron presents power plant plan to Japan govt.

03/28/2001
Reuters English News Service
(C) Reuters Limited 2001.

TOKYO, March 28 (Reuters) - U.S.-based Enron Corp on Wednesday presented
plans to build a liquefied natural gas (LNG) fired power plant in northern
Japan, aiming to become the first foreign company to build such a plant in
Japan.
The move brings Enron one step closer to realising its plan to build a power
plant with an initial capacity of two million kilowatts in Aomori prefecture.
"We submitted our basic plan to build the plant to the governor of Aomori
prefecture today in line with last November's announcement," Tatsuro Seguchi,
president of Enron Corp's Japanese affiliate Encom Corp, told a news
conference.
"We are aiming to start construction of the plant in 2004 and start
operations by 2007 since Japan's power market is one of our highest
priorities," he said.
The company still needs to clear several hurdles, including an environmental
assessment.
In November last year, Encom announced it would spend about 20 billion yen
($163.8 million) on the new plant.
Seguchi said, however, that the cost of purchasing land and building
LNG-related facilities was adding up to more than initial estimates.
He said the company now expected to spend far more than 20 billion yen and
possibly over 100 billion yen, but he declined to provide specific figures.
Seguchi said a plant with an initial capacity of two million kilowatts would
require the equivalent of two million tonnes of LNG per year.
The plant, to be built by E Power Corp - a wholly-owned unit of Encom - could
eventually expand capacity to 3-4 million kilowatts if there is enough
demand.
North America's leading buyer and seller of electricity and natural gas set
up Encom Corp in 1999 with leading Japanese firm Orix Corp to look into
entering the market.
Since March last year, non-utility firms have been allowed to sell
electricity to large-lot industrial users, opening up the cozy industry to
newcomers.
Several foreign firms, including U.S. oil major Texaco Inc , and the
Royal/Dutch Shell Group have also said they are keen to gain a foothold.

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

Enron's Japan Venture Submits Pwr Proj Plan To Local Govt

03/28/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

TOKYO -(Dow Jones)- EnCom Corp. (Japan), a New-York based power venture set
up by Enron Corp. (ENE) of the U.S. and Orix Corp. (IX), said it submitted a
basic plan for a large-scale thermal power project in northern Japan to the
local government of Aomori Prefecture Wednesday.
According to the plan, EnCom plans to build a gas-turbine combined cycle
power plant with an initial capacity of 2,000 megawatts in the Mutsu Ogawara
industrial area in Aomori in the northern part of Japan's main island.
The company also plans to build a liquefied natural gas terminal, including a
sea berth capable of accommodating 135,000-cubic-meter tankers and LNG
storage tanks.
Construction is scheduled to begin in 2004, following an environmental
assessment and approval from relevant authorities, for commercial operation
in 2007 or later.
"We have completed a preliminary study (on the project) that started in
December," said Tatsuro Seguchi, president of EnCom's Tokyo-based
wholly-owned subsidiary, E Power Corp. Seguchi, who was speaking to
reporters, declined to estimate the total cost of the project, which industry
observers say would cost a few hundred billion yen.
The Aomori government reiterated that it welcomes the move by EnCom.
"Building a large power plant that is relatively environmentally-friendly in
the Mutsu Ogawara area would contribute to the economy and employment in the
prefecture," Governor Morio Kimura said.
The proposed project would also help lure enterprises of various kinds to set
up operations in the area, Kimura said in a statement.
However, industry sources say there is a large hurdle for EnCom to clear -
how to secure a massive capacity for power transmission to supply electricity
to customers.
Seguchi said EnCom has made a request to Tohoku Electric Power Co. (J.THE or
9506), a regional power utility serving northern Japan, for leasing its
transmission lines. EnCom is waiting for a reply from Tohoku, he said.
EnCom is considering other sites in Japan on which it may build large-scale
power plants. Candidate sites include Ube in Yamaguchi prefecture, western
Japan, and Fukuoka Prefecture on the southwestern island of Kyushu. - -
28/03/01 10-39G

Up until now, E Power hasn't entered Japan's partially deregulated retail
power market, Seguchi said.
Since Japan opened the retail power market for large-lot high-volume
industrial and commercial users - which represent roughly 30% of total power
demand - to free competition in March 2000, a number of new entrants have
been tapping into the country's Y15 trillion industry.
Seguchi said that other than building its own power stations, E Power is also
in talks with factories to purchase their excess electricity or revamp their
aging small generators for resale of the power. Retail power sales via Enron
Japan Corp., a wholly-owned unit of the Houston-based Enron, is possible, he
added.
In August 1999, the U.S. energy and communications giant Enron and Orix
formed EnCom, in which Enron owns more than 60%, then set up E Power in a bid
to get a foothold in Japan's power industry.
-By Maki Aoto, Dow Jones Newswires; 813-5255-2929; maki.aoto@dowjones.com -0-
28/03/01 10-49G

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

Dubai "Desperate" For Gas To Power Its Industries - ENOC

03/28/2001
Dow Jones International News
(Copyright (c) 2001, Dow Jones & Company, Inc.)

DUBAI -(Dow Jones)- Dubai is "desperate" for natural gas supplies for power
generation and industrial use, Hussain Sultan, group chief executive of the
Emirates National Oil Co., said Wednesday.
Hussain, speaking at an oil and gas conference, said it is "costing a
fortune" for Dubai, the United Arab Emirates' second-largest emirate, to run
its 20,000-megawatt power station with liquid fuels.
Dubai's industrial free port at Jebel Ali and the Dubai Aluminium Co. Ltd.,
which expanded its annual capacity last year to 536,000 metric tons, are in
extremely short supply of gas, said local observers.
Hussain said the recently signed "term sheet agreement" between the U.A.E.
Offsets Group, or UOG, and Qatar Petroleum, to supply 2 billion cubic feet of
gas a day to Abu Dhabi and Dubai, is a step in the right direction.
Three weeks ago, QP and UOG signed a $3.5 billion agreement to export 2 bcf a
day of Qatari natural gas to the U.A.E.
The project, which will be undertaken by Dolphin Energy Ltd. - in which
TotalFinaElf (TOT) and Enron Corp. (ENE) each hold a 24.5% stake - plans to
drill first wells at Qatar's giant offshore North Field in the second half of
2001 and come onstream in early 2005.
About 1-1.5 bcf a day of the gas will be consumed by the al-Taweelah power
plant in Abu Dhabi and the remainder by the Jebel Ali terminal.
Sources told Dow Jones Newswires Wednesday that Abu Dhabi is considering
subsidizing the gas supplied to Dubai by Dolphin. However, comprehensive
pricing and other details of the whole project aren't expected to be
finalized for another few weeks.
-By Dyala Sabbagh, Dow Jones Newswires; 9714 3314260;
dyala.sabbagh@dowjones.com

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

India: Centre may bar States' direct access to funds

03/28/2001
Business Line (The Hindu)
Copyright (C) 2001 Kasturi & Sons Ltd (KSL); Source: World Reporter (TM) -
Asia Intelligence Wire

NEW DELHI, March 27. THE Centre is planning to prevent access to funds from
multilateral agencies by State Governments whose financial positions are
precarious.
Further, States will not be allowed to directly negotiate on their own
sectoral loans with the World Bank or any other multilateral institution.
The move is being considered in view of the sudden deterioration in the
finances of several States, including those with a reputation for fiscal
discipline.
Officials here cite the case of Kerala, which is in line for assistance from
the Asian Development Bank (ADB) under the Public Resource Management
Programme. This is a State which has a reasonably sound record at additional
resources mobilisation, but is now facing an unprecedented resource crunch.
Indeed, so acute is the current situation that the State Treasury is only
able to pay salaries to Government employees. There have also been instances
of cheques issued by the State Government bouncing.
Similar is the case of Maharashtra, which till a couple of years ago, was
considered the role model for fiscal rectitude, but whose finances have taken
a severe beating of late, with the Enron payment crisis only accentuating the
situation. "If we have reached a situation where even so-called
well-performing States are on the brink of financial emergency, allowing them
to negotiate loans from multilateral funding agencies on their own is simply
not prudent," the officials added.
States which intend accessing sectoral loans will now have to route their
proposals through a high-level committee constituted recently to monitor the
States Fiscal Reform Facility.
The panel, comprising representatives from the Finance Ministry, Planning
Commission, Reserve Bank of India and State Governments, will essentially be
the 'one-stop shop' for clearing such proposals. Finance Ministry officials
said this was being done to avoid the burden of the repayment of the loans
from falling upon the Central Government, which provides guarantee for
funding from the World Bank and the ADB.
Under the present dispensation, multilateral loans are first routed to the
Centre which, in turn, on-lends them to States. State Governments in effect
cannot access such loans directly.
"However, the practice of allowing States to negotiate directly with funding
agencies often leaves the Centre with no option but to approve such loans as
it virtually becomes a fait accompli," said officials.
They said the Centre had already sounded out the World Bank and other
multilateral agencies on its decision to debar States from entering into
direct negotiations.
Earlier, the Finance Ministry was also planning to harmonise core reform
milestones set out for States by various funding agencies to ensure
monitoring authorities did not work at cross purposes.
Based on the recommendations of the EFC, the Finance Ministry recently
outlined the broad action points for fiscal correction in States encompassing
reforms in the power sector, public sector and budgetary reforms.
States have been given the flexibility to draw up their own medium term
fiscal restructuring policy (MTFRP) based on these action points.
Officials said the Centre now decided to shelve the exercise of harmonisation
of reform milestones with the World Bank and other funding agencies as it
apprehended that such a move could have political ramifications.
Hema Ramakrishnan
Shaji Vikraman

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

PowerGen, Enron exit race for Vijayanagar project pie, L&T wooed
Rajesh Unnikrishnan MUMBAI

03/28/2001
Business Standard
4
Copyright (c) Business Standard

Enron and PowerGen, global power majors, have decided to withdraw their bids
for picking up a 26 per cent stake in the 500 mw Vijayanagar Thermal Power
Project (VTPP).
Following their withdrawal, KPCL has initiated talks with domestic power
equipment giant Larsen & Toubro (L&T) to pick up the stake.
VTPP is promoted by Karnataka Power Corporation (KPCL), the generation arm of
the Karnataka government.
An Enron spokesperson said, "In India, Enron will not make any further
investment till the power sector becomes economically viable". A PowerGen
spokesman said, "We did not submit the bid."
However, PowerGen sources said that the company is pre-qualified but decided
against bidding. The move is in line with the company's decision to get out
of India.
Senior officials with L&T said, "We have initiated talks with KPCL for
picking up a controlling stake in VTPP. Talks are in an advanced stage and an
agreement will be concluded within a month."
L&T does not operate any power project in the country, and is the
engineering, procurement and construction (EPC) contractor for many power
projects in the country.
The cost VTPP is estimated at Rs 2,100 crore with a 75:25 debt-equity ratio.
KPCL is planning to hold a 26 per cent stake in the project. The balance will
be held by the public and financial institutions. If the ongoing talks
materialise, L&T as well as KPCL will have to bring in Rs 136.5 crore each as
equity.
Sources with financial institutions said that if L&T is finalised as the
joint venture partner, it may also be the engineering, procurement,
construction contractor. This might result in L&T picking up a higher stake.

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

Enron foraying into wind power via subsidiary
Partha Ghosh NEW DELHI

03/28/2001
Business Standard
4
Copyright (c) Business Standard

Enron, the US-based multinational energy and communications major and the
promoter of the naphtha-based Dabhol power project, is making a foray into
wind power in India.
Enron Wind, a group company, has applied to the government seeking approval
to set up a wholly owned subsidiary for assembling, installation, operation
and maintenance of wind turbines and development of wind farms, said sources.
The company has proposed to make an initial investment of $2 million in the
new subsidiary which will be increased subsequently. The proposal will be
considered by the foreign investment promotion board tomorrow, and the
administrative ministry the ministry of non-conventional energy sources has
given its consent, the sources said.
Wind power is not a popular mode of energy generation in the country, and
previous attempts by private players have not been successful. Enron's
initiative in the field will be watched with interest, a government official
said.
The company has an installed wind power generator adjacent to its Dabhol
project in Maharashtra which has been continuously gauging the nature of wind
and the possibilities of using wind as a perennial source of power in the
country.
According to the company's official website, the western coast of the country
has been identified as a possible area of proposed projects. However, the
site map does not have any information on the exact location of the project.
On earlier occasions, companies have tried wind power generation in Tamil
Nadu. The investment in the proposed Indian subsidiary will be made by Enron
Wind GmbH, Germany. The arm will be based in Mumbai, where Enron's main
subsidiary is headquartered.
Enron Wind is one of the largest players in the modern wind power industry.
Over the last few decades, the company has designed and constructed wind
power facilities around the world comprising more than 4,500 wind turbines
and 1,600 mega watts of capacity.
Enron Wind offers wind turbine technology, skilled project development,
creative financing options, accomplished power plant design and engineering,
and experienced and responsive support services.

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

Metro; Letters Desk
Big Rate Hikes

03/28/2001
Los Angeles Times
Home Edition
B-8
Copyright 2001 / The Times Mirror Company

* The Public Utilities Commission's reasons for the rate hike are a joke
(March 27). It appears that the PUC blames the consumers for the current
power problems and not the greedy power companies or the lame-duck
politicians in Sacramento. Greedy people artificially generate this problem.
Electricity is not a luxury item, but it appears to be becoming one for many
people. This rate hike is another reason for business to stay out of
California or to leave. California has driven many companies out already.
California's economy will suffer and will pay the penalty for this artificial
mess.
ED WOO
Long Beach
*
I have sat back looking at what the electrical system has been deregulated to
in the last five years. Loretta Lynch, president of the PUC, now says we have
to pay over 40% more on our bills. (Cheap power under deregulation.) What
spot is she looking for in Bush's Cabinet? The PUC, state Energy Commission,
FERC and Legislature all have their hands in the pot making it worse by the
day.
The private companies were doing just great until those loud-mouthed consumer
advocates got hold of the public ear and lied through their teeth. The public
better look at what's going on real close so they know whom to vote for next
election.
JOHN KELLY
Yucca Valley
*
Cal-ISO, the independent electrical system operator, has recently released
figures which show that between December 1999 and December 2000 demand for
electricity increased by less than 1%. Our bills have already gone up, and
now the knuckleheads at the PUC are suggesting that we raise rates by 40%!
What are these people doing, and who is representing the interests of the
citizens over the interests of Duke Energy, Reliant Energy, Enron Corp., et
al.? We've been robbed for a year by these gougers, and now they want to
raise our rates so the robbers can reap even bigger profits than the 200% to
500% gains this year? I smell a revolution coming.
BRYAN HAYS
Saugus
*
Re "Davis Ducks Reality on Electricity 'Overcharges,' " Commentary, March 27:
Trying to blame Gov. Gray Davis' management of the power extortion game that
is going on just doesn't work. Try to shift attention as much as Benjamin
Zycher and Gary Ackerman want, but they cannot hide the fact that the
generation companies made good profits when they sold energy for as little as
10% of what they are able to charge now. I don't buy it. And I don't buy the
argument that gas "costs" have gone sky-high. Gas "costs" are the same. The
gas companies have also found ways to just charge more for the same thing.
Now, with a bought-and-paid-for administration in Washington, they are bold
enough to just keep on doing it while denying everything.
I am for canceling deregulation until this group of energy company executives
are prosecuted, jailed, replaced, made examples of what executives should not
become, and are just a bad memory.
BOB GILBERG
San Diego
* Economist Ross C. DeVol [of the Milken Institute] is quoted: "Somebody's
got to pay. We'll pay either as consumers or as taxpayers" (March 26).
Perhaps he can inform me which of these I am not.
ANN C. CHISOLM
Oxnard

PHOTO: PUC President Loretta Lynch; ; PHOTOGRAPHER: Associated Press

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

CEO says Texas in good shape for electricity deregulation
By BETSY BLANEY
Associated Press Writer

03/27/2001
Associated Press Newswires
Copyright 2001. The Associated Press. All Rights Reserved.

DALLAS (AP) - Enron Corp.'s chief executive and president said Tuesday he
believes that Texas energy markets are in good shape as the state prepares
for deregulation.
Jeffrey Skilling told an audience of about 400 business people at a downtown
hotel that California "has given the term deregulation a terrible name."
Electric deregulation in Texas officially starts Jan. 1. "In Texas, I think
we've got a pretty good system," Skilling said.
In San Francisco on Tuesday, the California Public Utilities Commission
unanimously approved electricity rate increases of up to 46 percent to try to
head off blackouts this summer by keeping the state's two biggest utilities
from going under.
When California officials set up deregulation they allowed the price of
wholesale electricity to rise but capped the amount companies could charge
customers, Skilling said. SoCal Edison and Pacific Gas & Electric say they
have lost more than $13 billion since last summer because they haven't been
able to pass on the high cost of wholesale electricity.
Skilling said Texans are in a much better position and shouldn't worry that
their state's deregulation would be like the California experience.
"California, they just put together a crazy system," Skilling said in his
first public comments since becoming the Houston-based company's chief
executive officer in February. "The markets in California are the most
regulated markets in North America today. And that's what is causing the
problem."
Enron, the largest energy trader, has been attacked by Californians who
accuse it of price-gouging. In a swipe at Enron and other traders, Gov. Gray
Davis said the state should never again allow "out-of-state profiteers to
hold Californians hostage."
In Texas this week, lawmakers picked apart the economics of their 1999
electric-deregulation law that allowed utilities to charge customers
higher-than-necessary rates to make up for money they were expected to lose
through investments in nuclear power and coal plants.
Although nuclear and coal plants were expected to lose value in an
unregulated market, their value instead increased as soaring natural gas
prices made gas-fired power plants more expensive to operate. Utilities with
coal and nuclear plants have reaped extra profits for utilities.
One legislator is sponsoring a bill to force utility companies to refund
customers an estimated $7 billion in overcharges allowed under the
electric-deregulation law passed last session.
Deregulation is expected to attract close to 20 power companies - including
newcomers from outside Texas - who will compete for a slice of the
residential, commercial and industrial market.
---
On the Net:
Enron: http://www.enron.com
Texas PUC: http://www.puc.state.tx.us

AP Photo DN102

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

Power companies gear up for deregulation pilot program

03/27/2001
Associated Press Newswires
Copyright 2001. The Associated Press. All Rights Reserved.

AUSTIN (AP) - Power companies are jockeying for the next phase in electric
deregulation - a pilot program to let some customers pick their own power
company beginning June 1.
In Dallas, competitors hope to lure customers from TXU Corp. are advertising
heavily in newspapers and over the air waves.
About 20 companies have signed up with state officials to become electricity
providers, ranging from existing companies to new entrants to the market such
as New Power Co. and Shell Energy.
New Power, a spinoff of Enron Corp. established to attract mostly residential
and small business customers, has signed up more than 5,000 customers in the
past two weeks.
TXU, which plans to go outside its North Texas base to compete for customers
in Houston, professes not to be concerned about advertising designed to lure
its customers away during the 8-month trial program.
"Why do you want to spend your advertising dollars when at most only 5
percent of your customers can choose?" spokesman Chris Schein told the Austin
American-Statesman. He said TXU will launch a major campaign in January, when
markets open more broadly.
"These customers are very astute, and they're going to make every company
earn their business," Schein said.
During the trial program beginning June 1, up to 5 percent of a utility's
customers can switch to another utility.
Just three weeks into advertising for the pilot program, TXU has more than
9,000 customers in its service areas interested in other electricity
providers - about 10 percent of the total that could switch before Jan. 1.
Houston-based Reliant Energy Inc. has also seen substantial numbers of
customers switch.
Only investor-owned utilities such as TXU and Reliant Energy are required by
Texas law to open their markets to competition on Jan. 1. City-owned
utilities such as Austin Energy and rural electric cooperatives can choose to
compete.
The pilot program has drawn the most interest among large commercial
customers, said Gary Rasp, a manager in the Austin office of
Burson-Marsteller, a public-relations agency that the state hired to explain
deregulation to Texans.
Smaller businesses have been much slower to embrace electric choice because
electricity is not as big an expense for them, Rasp said.

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

USA: Enron CEO says Calif. rate hike will help.

03/27/2001
Reuters English News Service
(C) Reuters Limited 2001.

DALLAS, March 27 (Reuters) - Enron Corp. , North America's biggest buyer and
seller of electricity and natural gas, on Tuesday said a 40 percent hike in
California electricity rates would help reduce shortages there but more
deregulation is needed.
Enron CEO Jeffrey Skilling said he expected California's power shortfalls
this summer to drive prices for natural gas above $10 from current prices
around $5 per thousand cubic feet.
"This summer under standard weather conditions that shortfall is likely to be
5,000 megawatts," Skilling told a Dallas luncheon hosted by Southern
Methodist University's Cox School of Business.
Skilling said the rate hike, approved by California's Public Utilities
Commission, could reduce that power shortfall. But power generators will
still be scrambling for natural gas for power plants, driving the price
higher and drawing supply away from industrial uses.
"That could mean very high prices. I can easily conceive of something north
of $10, potentially around $15," Skilling said.
Asked by reporters about the impact of the California rate hike, Skilling
said it was "a huge step forward in reducing the odds of shortfalls".
"To date I don't think anyone has been willing to let prices rise to help
balance supply and demand.... This is step number one," he said.
But he said a permanent fix to the state's power crunch would require genuine
deregulation, which he said had not been achieved under California's current
system.
Skilling said he expected demand pressure to keep natural gas prices high for
several years until demand can be curbed or new production be brought into
play, possibly by increasing the import of liquefied natural gas.
Building new facilities for shipping liquefied gas, storing it and returning
it to gaseous form for burning would be expensive but could be attractive as
long as natural gas prices remain above $3.50 per thousand cubic feet, he
said.
"That will take the edge off prices in four or five years," he said.
Skilling reaffirmed Enron's projected earnings per share of $1.70-$1.75 in
2001. "We're on track. We're very comfortable" with that estimate, he told
reporters.

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

USA: Enron rewards Lay with $7 mln bonus.

03/27/2001
Reuters English News Service
(C) Reuters Limited 2001.

WASHINGTON, March 27 (Reuters) - Electricity and natural gas marketing
company Enron Corp., coming off an "extremely strong" 2000, rewarded Chairman
Kenneth Lay with a 79 percent boost to his bonus, Enron said on Tuesday.
Lay's 2000 bonus shot up to $7 million from $3.9 million in 1999, the
Houston-based company said in its annual proxy statement filed with the
Securities and Exchange Commission.
"In recognition of Enron's extremely strong performance during 2000 relative
to recurring after-tax net income and other financial measures, Mr. Lay
received a cash annual incentive award of $7,000,000," said the company.
Enron determined the figure by taking into account the pay level for the head
of a company of comparable revenue size as well as increases in total
recurring net income and earnings per share, according to the proxy.
Lay's base salary last year was $1.3 million, unchanged from 1999. He also
received $7.5 million in restricted stock awards as well as options for
782,830 shares that could be valued at $35 million if Enron's stock
appreciated 10 percent annually over the life of the options.
Most of the options expire on January 10, 2007 and can be exercised at $47.31
a share.
Enron's stock was at $60.08 in afternoon trading on the New York Stock
Exchange, down $1.40. Over the past 52 weeks the shares have been as low as
$51.55 and as high as $90.56.

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

Powergen, Innogy Look to Profit From New Power System (Update1)
2001-03-27 06:19 (New York)

Powergen, Innogy Look to Profit From New Power System (Update1)

     (Adds company comment in 17th paragraph.)

     London, March 27 (Bloomberg) -- Powergen Plc, Innogy Plc and
other large generators will benefit from a new system of trading
power in the U.K., while nuclear and renewable-energy producers
may find the rules harder going, analysts and executives said.
     The New Electricity Trading Arrangements, or NETA, start
today after a five-month delay. Powergen, Britain's third-biggest
generator, Innogy, the top power supplier, and U.S. rivals such as
TXU Corp. are hoping their mix of coal and natural gas-fired
generation will allow them to make more money trading electricity.
     ``There will be winners and losers,'' said Angelos
Anastasiou, an analyst at Williams de Broe. ``Companies best
placed to survive and thrive under the NETA system are the ones
that have a flexible portfolio of generation.''
     Unlike California, where a shortage of generation has led to
surging prices and blackouts in recent months, the U.K. has more
capacity than it needs. The market regulator, Ofgem, hopes NETA
will increase competition in an electricity market it values at
7.5 billion pounds ($6.7 billion) a year, leading to lower prices.
     Wholesale power prices have fallen about 15 percent in the
last year as companies prepared for NETA, though there is room for
further declines, according to Ofgem.
     ``Since privatization, generating costs have come down by
between 25 percent and 40 percent, but this has not been reflected
in prices,'' Ofgem Chief Executive Callum McCarthy said in a
statement issued by Regulatory News Service.
     Under previous rules, generators facing a temporary supply
interruption weren't penalized if they didn't deliver. Under NETA,
a company that can't produce power it agreed to supply must buy it
on the market. As a result, generators able to supply power from
different sources are most likely to benefit, analysts said.

                    Interruptions

     In addition, the biggest utilities with excess capacity will
also profit from supplying other generators with short-term power
-- at high prices -- when they must buy to meet NETA obligations.
Nuclear plants, which must be run at full output, and companies
that generate power from wind and sun are not so flexible.
     The previous ``pool'' trading system, set up in 1990 when the
U.K. started selling power assets to the public, is run by the
National Grid Group Plc, operator of the country's high-voltage
transmission network.
     National Grid combines all offers from generators to sell
electricity and picks the lowest-priced offers until demand is
filled. The system is restricted to filling market imbalances
about three-and-a-half hours before they appear.
     ``The issue is the flexibility of plant,'' said Carolyn
McAdam, a spokesman for Scottish and Southern. ``Our dual-turbine
gas plants are designed to be easy to switch on and off.''
     British Energy Plc, the U.K.'s biggest generator, has been
looking to diversify its production away from a reliance on
nuclear energy. In March last year, it bought Eggborough coal-
fired power-station for 615 million pounds.

                    Pork Bellies

     The agreements will allow electricity to be traded in much
the same way as pork bellies, gas or any other commodity, industry
officials said.
     Innogy, the U.K. generator spun off from National Power Plc
last year, employs 70 people on its trading floor in Swindon,
England. TXU Europe also hopes to make money trading electricity
contracts, as does Enron Corp., the world's largest energy trader.
     ``We'll be trading across the board under NETA,'' said TXU
Europe spokesman Chris Judge.
     Powergen spent 25 million pounds over two years to prepare
for NETA, Chief Executive Nick Baldwin said in an RNS statement.
The company's systems are ``interfacing well with the central
system and that of the National Grid Company'' today, he said.
     Designed and to address concerns the price of electricity was
being manipulated under the ``pool'' system, smaller producers say
the new arrangements are biased towards bigger companies.
     ``The NETA program has always said it will create a level
playing field but that's a load of hot air,'' said Steve Garrett,
commercial manager of Slough Heat and Power Ltd. ``From a small
generators point of view, (today) is the not `go live' date but
the `go dead' date.''

                    Wind Power

      Martin Edwards, owner of a Wind Electric Ltd., a wind power
plant in Cornwall, England, which supplies enough energy each year
for 2,700 households, says the new system will reduce the price
that he charges for electricity by as much as 50 percent.
     ``Wind farms will just about be able to cover their costs
under NETA,'' and nothing further, he said.
    To be sure, Ofgem said last week it will investigate the
effect of NETA on small generators, and the government has said
10 percent of all electricity consumed by 2010 will come from
renewable generation sources.

                    Market Conditions

     With its abundant generation, some companies argue that NETA
isn't necessary because the market situation it was created to
address no longer exists.
     The electricity market, once dominated by National Power
and Powergen, has become more competitive, with foreign rivals
taking a bigger slice of the market and driving prices down.
     National Power and Powergen have seen their market share
shrink over the past 10 years. Companies such as ScottishPower
Plc, which last year bought a natural gas-fired power station from
Powergen for 220 million pounds, have also increased rivalry.
     And there's no reason to fear California-style shortages
resulting from NETA, said Ofgem. There haven't been blackouts in
Britain that weren't weather related in almost 30 years.
     ``In terms of the average price achieved, the advent of NETA
will probably not make much difference,'' said Williams de Broe's
Anastasiou. ``We will get more price volatility, but it remains to
be seen what NETA's real impact will be.''

--Nick Nabarro and Mathieu Robbins in the London newsroom
(44) 20 7673 2392 or nnabarro@bloomberg.net /cor

Enron CEO Sees 2001 Revenue at $160 Billion to $170 Billion
2001-03-27 14:55 (New York)

Enron CEO Sees 2001 Revenue at $160 Billion to $170 Billion

     Dallas, March 27 (Bloomberg) -- Enron Corp. Chief Executive
Jeffrey Skilling said revenue at the world's biggest energy trader
will rise to $160 billion to $170 billion this year from $100.8
billion last year.
     Skilling spoke in Dallas at Southern Methodist University's
lecture series. Enron is based in Houston.

--Margot Habiby in Dallas, (214) 740-0873, or
mhabiby@bloomberg.net, through the Princeton newsroom,
(609) 279-4000/pjm

U.S. Companies Push for Private Lenders to Finance Exports
2001-03-27 18:32 (New York)

U.S. Companies Push for Private Lenders to Finance Exports

     Washington, March 27 (Bloomberg) -- Enron Corp., Lucent
Technologies Inc. and other U.S. companies are pressing the Export-
Import Bank to let private lenders offer export financing, a
system that could provide billions of dollars in additional
funding for U.S. sales overseas.
     The Ex-Im bank should counter the ``market window'' financing
used by Canada and other U.S. trading partners that enables banks
to offer export loans at the lower costs government agencies
offer, the companies told an Ex-Im Bank advisory panel.
     The bank, an independent federal agency, hasn't taken a
position on the practice, which would require congressional
approval.
     ``Ex-Im is behind the curve,'' said Rebecca McDonald,
chairman and chief executive of Enron Global Assets, a division of
Enron Corp. that develops power projects in Latin America and
Asia. ``There needs to be a fundamental change in Ex-Im's
philosophy and business practices.''
     Businesses are seeking the change, at the same time they are
fighting a 25 percent cut in the Ex-Im Bank budget proposed by
President George W. Bush. Bush wants to reduce funding for the
bank, which lends to foreign buyers of U.S. goods, to $699 million
from $927 million.

                        Growing Concern

     Concern about the budget ``only magnifies the other concerns
that exporters have with respect to ensuring that the agency is
competitive,'' said Mary Irace, vice president at National Foreign
Trade Council. ``Without money, who can be competitive?''
     The trade council represents 500 companies, including
engineering company Bechtel Group Inc. and Enron, the world's
largest energy trader, and U.S. units of foreign companies such as
Asea Brown Boveri AG, the world's biggest electrical-engineering
company.
     If Ex-Im used market-window financing as much as Canada and
Germany, which use the practice most, the agency could increase
the scale of its operations by more than 50 percent to about $20
billion, said Gary Hufbauer, a senior fellow at the Institute for
International Economics, a Washington research group.
     Market window financing wouldn't cost the U.S. government
more money, yet current law would require additional funding in
case some of the loans need to be written off, Hufbauer said.
     The Ex-Im Bank supported foreign transactions worth $12.6
billion with loans, guarantees and export-credit insurance in
2000.
     Bush's plan to cut funding faces opposition from Republicans,
the majority party in Congress. House Speaker Dennis Hastert, an
Illinois Republican, said lawmakers will probably restore the
funding, and 30 Republican senators have asked Bush to change
course.
     The agency's top official said he expects an increased focus
on market-window financing, which Peter Derrick, Lucent's
assistant treasurer said has grown during the past decade in other
countries.
     ``Market windows will get a lot of attention in the months
ahead,'' said James Harmon, Ex-Im's chairman and president.
``Everybody will focus on it.''

--Emily Schwartz in Washington (202) 624-1927 or


Kam Keiser will lead the presentation to the group.


Larry,

Thanks. Can you forward the resume to Mike and/or other finance professionals
in Enron
who could use James?

Vince

Larry Lawyer@ENRON
11/21/2000 03:10 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Re: TAGE Resume Submittal

Vince,

Thanks for forwarding the resume.  We have generally had great success with
ex-Koch people.
He sounds might like he may be a good fit for Michael L. Miller in principal
investments.  At this point
I have very recently inherited two other stron VPs from EI and therefore will
probably focus on a few
Manager and Associates for the near term but I would like to keep James'
resume for further opportunities.
He sounds like someone we should at least meet with and figure out a spot
within Wholesale Services.
What do you think?

Regards,

-Larry-


---------------------- Forwarded by Liz Prior/CAL/ECT on 05/25/2001 07:40 AM ---------------------------

Shirley.VanDenBosch@alliance-pipeline.com on 05/24/2001 07:14:22 PM
To:	AllianceShippers@alliance-pipeline.com
cc:	bruce.farrell@mirant.com, customerservice@alliance-pipeline.com
Subject:	AOS for 26th thru 29th

AOS for the weekend including the US holiday will be 15%.

In the office on the 25th:
7AM  Andy Jardine

8AM  Sandra Quon, Cathie Legge
1PM  Sherral Vejprava


fyi..

 -----Original Message-----
From: 	CustomerNotices, WGPHOU [mailto:WGPHOU.CustomerNotices@Williams.com]
Sent:	Tuesday, October 23, 2001 3:43 PM
Subject:	Third  Revised Terrebonne PVR % for October 2001

Date:  October 23, 2001

To:    Transcontinental Gas Pipe Line Corporation Customers and
       Shippers

Re:    Third Revised Terrebonne PVR % for October, 2001

North Terrebonne Plant Operator has advised Transco that the
plant is currently operating at 100% of its normal capacity for
the remainder of October 2001.

Please be advised that the percentages for Production Blocks and
Associated Meter Stations as listed on the previous notice dated
September 28, 2001 will be adjusted to reflect plant operations
at 100% of its normal capacity in October, effective October 24, 2001.

Please direct any questions regarding this subject to your
Transportation Scheduling Representative or Rose Prevott
at 713-215-4396.

Larry G. Cunningham
Manager
Transportation Receipts
713/215-2665


Please follow-up with Jeff as soon as possible.  Let me know when someone has
contacted Jeff.  Thanks
---------------------- Forwarded by Stanley Horton/Corp/Enron on 05/21/2001
07:55 AM ---------------------------
From: Jeffrey A Shankman/ENRON@enronXgate on 05/18/2001 01:29 PM
To: Stanley Horton/Corp/Enron@Enron
cc:

Subject: RE: RFP for coal bid

As of yet, I have not heard anything.  I'll look for her call by Tuesday May
22.  Thanks.  Jeff

 -----Original Message-----
From:  Horton, Stanley
Sent: Thursday, May 17, 2001 1:24 PM
To: Jeffrey A Shankman/HOU/ECT@ENRON
Subject: RFP for coal bid

Peggy Fowler should have someone from PGE calling you.  If they don't please
let me know.


Dale,

Here are the confirms for the Gas Daily option products that I need created.
The product has no special requirements for setting the strike etc.
if there are any questions please call me asap. I would like to have these
products online by the October expiry which is next wWednesday.
Please let me know when it will be possible

Thanks
---------------------- Forwarded by Peter F Keavey/HOU/ECT on 09/19/2000
03:30 PM ---------------------------

	Enron North America Corp.

	From:  Dutch Quigley                           09/19/2000 03:27 PM

To: Peter F Keavey/HOU/ECT@ECT
cc:
Subject: options confirms

Pete,

Let me know if this is OK

Dutch


Energy Central Job Center

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      HOME  | GAS NEWS  | EVENTS  | JOBS  | BUSINESS CENTERS  | DIRECTORIES  | DATA CENTER    WEDNESDAY, JANUARY 16, 2002

 	   THIS ISSUE BROUGHT TO YOU BY       Competitive Intelligence now available. Identify potential suitors, those who threaten your position across the value chain or those who demonstrate best practices with Company Profile Reports from Datamonitor. These reports are the definitive intelligence resource on 106 top companies in the energy industry. Reports include: specific business background, history, locations and subsidiaries, products, services and key employees. View the list of Datamonitor's Company Profiles. http://www.energycentral.com/sections/research/default.cfm?cpane=23003&rpublisher=11408&rtype=all         TOP STORIES     Raleigh, N.C.-Based Utility to Buy Texas Natural-Gas Company  By Dudley Price, The News & Observer, Raleigh, N.C., Jan. 15 Progress Energy is buying a Texas natural-gas company for $153 million.     California Governor Won't Settle Lawsuit over Offshore Oil, Gas Leases  By Mark Van De Kamp, Santa Barbara News-Press, Calif., Jan. 15 Governor Gray Davis on Monday joined local environmentalists and anti-oil groups in rejecting efforts by the U.S. Department of the Interior to settle a lawsuit regarding California's right to review 36 undeveloped offshore oil and gas leases, most of them off Santa Barbara County's shores.     PetroChina in talks with partners on gas pipeline  SHANGHAI, Jan 15 (Reuters) PetroChina said on Tuesday it was still negotiating with potential partners including Exxon Mobil on stakes in a massive gas pipeline, despite market speculation Exxon might have been excluded from the project.      Press Release      Peter Swartz Joins EPIS as Vice President of Development  West Linn, Oregon, January 16, 2002 EPIS, Inc., developer of the AURORA(TM) Electric Market Model, announced that Peter J. Swartz has joined EPIS as Vice President of Development, with responsibility for the development of market modeling software as well as forecasting products and services.      California Crisis      Foul Windfall?; L.A. County Claims Sempra Part Of Price Conspiracy  Jan 15 - Daily News - Los Angeles Los Angeles County has filed suit against Sempra Energy, and its subsidiary, the Southern California Gas Co., claiming a massive conspiracy to drive up the cost of natural gas and electricity will cost taxpayers hundreds of millions of dollars.      Business Groups Propose New State Department of Energy  Jan 15, 2002 - E?Publishing The California Chamber of Commerce and California Business Roundtable seek to eliminate two state agencies and consolidate the duties of others by creating a new state Department of Energy.          ADVERTISEMENT    Gain the competitive intelligence you need to make informed business decisions. Energy Central's Operating Plant Experience Code (OPEC) is a must for all aspects of analyzing nuclear power plant performance. Identify causes of poor performance, compare lost generation trends, and set performance criteria! Free trial - visit http://www.energycentral.com/sections/databases/OPEC          National Energy Policy      Cheney Still Shielding Energy Task Force Documents from Gao, Congress  Jan 15, 2002 - E?Publishing The momentum behind a threatened General Accounting Office lawsuit against Vice President Cheney's energy task force appears to be building amid disclosures that Enron Chairman Kenneth Lay knew about his company's profit overstatements as early as last summer and possibly sooner.      Mergers, Acquisitions & Divestitures      Enron to Sell 3 Energy Assets   Mexico, Jan 15, 2002 (BNamericas.com via COMTEX) -- Bankrupt US-based energy company Enron could begin this week the sale of its assets in Mexico: a cogeneration electricity plant, a gas pipeline and permission to transport gas.      Cnooc to Reach Deal with Enron  Jan 15, 2002 - Asiaport Daily News Wei Liucheng, the President of the CNOOC, China's largest ocean petroleum and natural gas manufacturer, indicates that the company will reach a deal to purchase an oil field abroad at the cost of USD600 million.      Legislation/Regulation      US lawmaker seeks Enron pension, accounting probes  WASHINGTON, Jan 15 (Reuters) - The chairman of a powerful Senate committee probing Enron Corp.'s collapse on Tuesday requested investigations into financial reporting and employee retirement fund investments in company stock, matching a White House call last week for reviews in the same areas.      Given Washington's Ties to Enron, Impartial Investigation Will Be Difficult  By Stephen J. Hedges, Chicago Tribune, Jan. 15 The political and financial reach of Enron Corp. has exposed so many conflicts of interest among U.S. prosecutors, lawmakers and administration officials that the government is struggling to launch its investigation of the company whose spectacular collapse swept away the savings of thousands of employees and shareholders.      Enron Faces Congressional Tax Probe   By CURT ANDERSON AP Tax Writer, WASHINGTON, Jan 15, 2002 (AP Online via COMTEX) -- Enron Corp., which led a lobbying campaign to repeal a corporate tax as it neared collapse, will undergo scrutiny in Congress of its own tax returns to determine if shelters or other practices may have concealed its financial condition.      Enron Goes from White House Friend to Foe  The Dallas Morning News, Jan. 14 Once one of the Bush campaign's biggest financial assets, Ken Lay and Enron Corp. have suddenly become the Bush presidency's biggest political liability.      Wisconsin Energy Regulators' Heightened Secrecy Sparks Furor  By Lee Hawkins Jr., Milwaukee Journal Sentinel, Jan. 13 Mark Penaherrera never claimed to be Perry Mason.      Business group wary of new regs from Enron case  By Peter Kaplan, WASHINGTON, Jan 15 (Reuters) The head of corporate America's biggest lobbying group on Tuesday said the government should not rush to impose new business regulations in the wake of Enron Corp.'s collapse.      Gas Pricing/Hubs      U.S. spot natural gas moves up on temps, NYMEX  SAN FRANCISCO, Jan 15 (Reuters) U.S. day-ahead natural gas prices extended gains on Tuesday, rising on forecasts calling for cooler late-week weather and firmer NYMEX trade.      NYMEX Hub gas ends mixed, short cover lifts fronts  NEW YORK, Jan 15 (Reuters) NYMEX Hub gas ended mixed Tuesday in moderate trade, with front months again lifted by a firmer physical market and a steady stream of short covering ahead of Wednesday's weekly inventory report, sources said.      Production      Gazprom Reports Plans On Gas Production In 2002   Moscow, Russia, Jan 15, 2002 (RosBusinessConsulting via COMTEX) -- The Russian gas giant Gazprom is going to produce no less than 530 billion cubic meters of natural gas in 2002, Gazprom's head Alexey Miller announced at the opening of the exhibition      Shell UK says Shearwater gas platform to resume ops in Feb   LONDON, Jan 15, 2002 (AFX-UK via COMTEX) -- Shell UK Exploration and Production's 1.2 bln usd Shearwater natural gas platform will resume production next month after the group decided to close down the facility in December due to damage in one of the condensate pipes, a company spokeswoman said.      Drilling/Exploration      Report on Canada Pacific drilling ban to be studied  VANCOUVER, British Columbia, Jan 15 (Reuters) It will be "a couple of weeks" before the results of a review of Canada's moratorium on energy exploration off its Pacific Coast will be made public, a provincial government official said on Tuesday.      Futures      Natural gas higher on short covering support   Jan 15, 2002 (TradeSignals via COMTEX) -- Natural gas futures ended Monday's session higher but off the days high as late long liquidation curbs early rise.      Gas Processing      Westcoast reduces output at British Columbia plant  CALGARY, Alberta, Jan 15 (Reuters) Westcoast Energy Inc. has reduced capacity by 33 percent at a major processing plant on its natural gas system in British Columbia.      Leases/Acreage      Feds are getting ready to fence in eastern gulf drilling  Jan 14 - New Orleans CityBusiness FEDERAL OFFICIALS PLAN to lock in restrictions on oil and gas leasing in the eastern Gulf of Mexico for the next five years, easing Florida's environmental concerns but angering the energy industry, which wants more access to federal offshore areas.      Pipelines      U.S. group plans to file details for Arctic gas line  CALGARY, Alberta, Jan 14 (Reuters) The proponents of a multibillion-dollar gas pipeline to Alberta from Alaska's Prudhoe Bay via the Beaufort Sea, one of three plans in the works to ship Arctic gas to southern markets, said on Monday they planned to file an outline of the project this week.      Boyer Gas Line Spur Deferred  Jan 14, 2002 - Australasian Business Intelligence Construction of the section of Tasmania's $A400m natural gas pipeline terminating at Bridgewater can commence in February 2002.      Poland Supports Gas Transportation Across Its Territory  Jan 15, 2002 - Itar-Tass News Agency Warsaw fully supports the idea of building a pipeline for the transportation of Russian gas to Western Europe across the territory of Poland, by-passing Ukraine, Polish Deputy Prime Minister and Finance Minister Marek Belka told Tass on the eve of the Russian-Polish summit.      India-Iran gas pipeline to reduce tension in region, says oil minister  Jan 15 - BBC Monitoring Middle East Iranian Petroleum Minister Bizhan Namdar- Zanganeh said on Tuesday [15 January] that India-Iran gas pipeline would reduce the tension in the region.      Rates    For more information on rate tariffs visit Gas Rate Tariffs   [IMAGE]    Meriden, Conn.-Based Yankee Gas Service Burned in Bid for Gas-Rate Hike  By Dana Ambrosini, Connecticut Post, Bridgeport, Jan. 12 Sometimes it does hurt to ask.      MPC's bills for natural gas to drop by 18% for many  Jan 14 - The Billings Gazette Montana Power Co.'s typical residential natural gas customers will see their total monthly bills drop by 18 percent or $12.38 a month, beginning Jan. 1, 2002, the company said Friday in its annual gas tracking filing.      General      Employee's Note Warned Enron Chairman of Financial Implosion  By Julie Mason, Houston Chronicle, Jan. 15 An Enron Corp. employee warned Chairman Kenneth Lay in August about the company's practice of hiding financial losses in various partnerships -- the same methods now blamed for the one-time energy giant's historic collapse.      Enron Collapse Won't Take Down Houston  By Flynn McRoberts, Chicago Tribune, Jan. 15 Enron's two skyscrapers tower over this city's downtown.      Enron Fallout May Extend to Accounting Firm  By Tim Lemke, The Washington Times, Jan. 15 Arthur Andersen is in the middle of a nightmare.      Enron Collapse Felt at Garfield, N.J., Paper Mill  By Monsy Alvarado, The Record, Hackensack, N.J., Jan. 13 Every time Mendo Anevski hears more news about Enron's financial downfall, he grows more angry.      Joint Ventures & Alliances      Kansas City, Mo., Energy Marketer Forms Alliance with Utility Holding Firm  By Steve Everly, The Kansas City Star, Mo., Jan. 15 Aquila announced Monday an alliance with NiSource Inc., a holding company with assets that include power plants, natural gas storage facilities and 16,500 miles of interstate pipelines.      Trading/Marketing      Details of Enron deal released; Swiss investment bank to share one-third of trading profits  By ALAN CLENDENNING AP Business Writer, NEW YORK, Jan 15, 2002 (AP WorldStream via COMTEX) -- A Swiss investment bank won't pay anything to acquire Enron Corp.'s energy trading business, won't assume any of the troubled company's debts and will share a third of its profits with Enron and its creditors, under terms of a deal made public Tuesday.      Enron trading shop ready to go - but can it?  By C. Bryson Hull, HOUSTON, Jan 14 (Reuters) Enron Corp. has the financial backing, top talent and computer systems it needs to restart its dormant trading operations, but its success remains a challenging all-or-nothing proposition, analysts said on Monday.      Legal      Judge Inexplicably Withdraws from Hearing Any Enron Cases  By Rosanna Ruiz, Houston Chronicle, Jan. 15 Three days after she denied a motion to freeze the assets held by Enron executives and board members, U.S. District Judge Lee H. Rosenthal has inexplicably recused herself from all Enron cases.      People      Fired Andersen partner did no wrong, says attorney  HOUSTON, Jan 15 (Reuters) The partner accused by accounting firm Andersen of ordering the destruction of documents relating to its audit of collapsed energy trader Enron Corp. followed the instructions of an Andersen lawyer and did nothing wrong, his attorney said on Tuesday.      Texas Senate Candidate Plans to Keep $180,000 from Enron Executives  By Gromer Jeffers Jr., The Dallas Morning News, Jan. 15 Republican Senate candidate John Cornyn said Monday he would not return $180,000 in past political contributions from Enron Corp. executives.      Avista CFO Eliassen to retire  SPOKANE, Wash., Jan 15 (Reuters) Avista Corp., an electrical and gas utility, said Tuesday that Chief Financial Officer Jon Eliassen will retire in April 2003.      Labor/Human Resources      Enron Management Put on Upbeat Stock Front for Workers  By Jeff Manning, The Oregonian, Portland, Ore. , Jan. 13 In August 2001, Enron was just weeks away from one of the biggest business collapses of all time.      Financial      Husky Energy focuses on Western Canada in $1.4B spending plan for 2002   CALGARY, Jan 15, 2002 (The Canadian Press via COMTEX) -- Husky Energy Inc. has announced plans for $1.4 billion in capital spending during 2002.      Enron shares to be delisted from NYSE   NEW YORK, Jan 15, 2002 (United Press International via COMTEX) -- Trading of Enron shares was suspended Tuesday by the New York Stock Exchange, which announced formal plans to delist the greatly devalued stock of the financially troubled former energy giant.      Andersen Fires Lead Enron Auditor   By MARCY GORDON AP Business Writer, WASHINGTON, Jan 15, 2002 (AP Online via COMTEX) -- Arthur Andersen LLP said Tuesday that auditors destroyed Enron Corp. documents after federal securities regulators requested information on the collapsed energy company.      Enron Disaster Might Spur Call for 401(k) Insurance  By Pamela Yip, The Dallas Morning News, Jan. 14 In the wake of a recently announced effort by the federal government to review rules regulating company pensions and 401(k) plans, a logical question is expected to surface: Would it be possible to institute some type of insurance that would protect employees from seeing their 401(k) money wiped out?      Houston Oil Company Shares Take Wild Ride after Profit Warning  By Michael Davis, Houston Chronicle, Jan. 15 Anadarko Petroleum Corp.'s stock was off almost $1 per share in early trading Monday but closed with a small gain after the Houston oil company warned investors that it would not meet analysts' profit expectations.      Teco Energy Completes Sale of $400 Million of Securities  Jan 15, 2002 - PR Newswire TECO Energy, Inc. today reported that it has completed the previously announced sale of $400 million of mandatorily convertible securities.      International      Lattice, RWE Gas to launch gas logistics services jv in March   LONDON, Jan 15, 2002 (AFX-UK via COMTEX) -- Lattice Group PLC said it has reached an agreement with RWE AG's gas operations arm to launch a gas logistics services joint venture in March.      Gas, Electricity Tariffs to Go Up Over 30% in 2002 - Chubais  Jan 15, 2002 - Itar-Tass News Agency The total rise of gas tariffs will make 35 percent, while electricity tariffs will be up 32 percent in 2002, top manager of the Unified Energy Systems of Russia grid Anatoly Chubais said Tuesday.      Energy Commission assumes responsibility  Jan 15 - New Straits Times The Energy Commission, formed under the Energy Commission Act 2001, became fully operational since Jan 2 and has assumed all the responsibilities of the Department of Electricity and Gas Supply.      Jordan looks to increase and diversify energy sources  Jan 15, 2002 - Agence France-Presse Jordan is seeking to increase and diversify its energy sources with oil, gas, and electricity projects, including windfarms, to make up for its lack of natural resources, its energy minister told AFP in an interview.        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Rita and All:

All:
The contract maximum of 4.45% (not 4.5%) is based on both Field and Mainline fuel for the particular MID (10, 11, 12 and/or 13) in which the gas is received.  The attached spreadsheet is a history of the relevant MID fuels.  When the contract originated in December 1995 the MID average was below 4% and the contract generated modest revenue for NNG.

The 6/1/97 tariff revision greatly increased mainline fuels, especially in MID 11 where the majority of the contract volume is received, where the fuel jumped from 1.48% to 2.90%.  The 6/1/97 revision increased the volume weighted average fuel (a measure valid for comparison purposes only) from 3.81% to 4.65%, which until the 8/1/01 revision to 4.71% was the zenith.

Mainline fuel appears to be the problem: it has increased from 1.84% effective 6/1/99 to 2.25% effective 6/1/00 to 2.66% effective 8/1/01.  This .82% increment makes the difference between profit and our current situation.

Rita:
Can you tell us how we got here and what areas we could focus our attention on to potentially remedy the problem?  Which station have increased fuel consumption over the years?  And how are prior period adjustments made?  Can you send me the calculation spreadsheets for the relevant tariff revision periods?

All:
Ideas/comments/solutions?

Steve

 -----Original Message-----
From: 	Fancler, Dan
Sent:	Thursday, November 08, 2001 5:41 PM
To:	Geaccone, Tracy; Weller, Steve; Stage, Michael G.; Lev, Jennifer
Cc:	Cobb Jr., John; Chandler, Bob
Subject:	RE: EPPI GPM Oneok agreement

NNG is billing fuel retention on out-of-balance deliveries.

We only collect the 4.5% on the receipt volumes, however NNG is charging fuel based on the receipt plus the out-of-balance delivery.
This out of balance collection goes to trackers.  We could lower the amounts over the 4.5% if NNG stops charging out-of-balance retention when this contract goes short.  (stop charging out-of-balance retention has other problems assocated with it). This contract was consistently short in 2001.  This is not all of the problem but it is the controllable part.  That is, we need to make these two contracts long to the system each month.  Or, put an OBA at Bushton's inlet (The OBA at Bushton's inlet also has other problems assocated with it).

Mike and Steve please confirm my calculations to the contract terms to see if I am correct, also can you set a meeting with Logistics, Regulatory and Tracy Geaccone to discuss.

The non-controllable factors are NNG's Field fuel rate keeps increasing making it consistently over the 4.5%, and lower gas prices increase the exposure to EPPI.

 -----Original Message-----
From: 	Geaccone, Tracy
Sent:	Wednesday, November 07, 2001 3:45 PM
To:	Fancler, Dan; Weller, Steve; Stage, Michael G.; Lev, Jennifer
Cc:	Cobb Jr., John; Chandler, Bob
Subject:	RE: EPPI GPM Oneok agreement

I still need to understand why we are at the 4.45% and what we can do in the future if anything to control it.   Can someone help me with this?

Thanks

 -----Original Message-----
From: 	Fancler, Dan
Sent:	Wednesday, November 07, 2001 3:36 PM
To:	Weller, Steve; Stage, Michael G.; Geaccone, Tracy; Lev, Jennifer
Cc:	Cobb Jr., John; Chandler, Bob
Subject:	EPPI GPM Oneok agreement

I have attached a summary and schedules which indicate the following.

EPPI owes Oneok/GPM $339,158.69
Oneok owes NNG	$  92,774.99
Net amount due is	$246,383.70  Per Dan Fancler

Oneok invoices total $301,383.96.  Oneok has not recognized that some months they paid under the 4.45% and owe NNG.
 << File: GPM 101021  101073 Recalculation.xls >> Oneok is pushing hard for the money, so I am turning over the resolution of the differences to NNG marketing and the resolution of the cash payment to Tracy Geaccone and/or Jennifer Lev.


I believe the first 2 are revisions and the 3rd one is new to you.


**********************************************************************
CERA Conference Call: Sent Tue, December 12, 2000
**********************************************************************

Title: Conference Call and Web Presentation: Volatility in Northeast Energy
Markets...
Author: CERA
E-Mail Category: Conference Call
Product Line: North American Gas , Refined Products ,

URLs:
Refined Products Members:
http://www.cera.com/client/rp/cc/121200_19/rp_cc_121200_19_ab.html

North American Gas Members:
http://www.cera.com/client/nag/cc/121200_19/nag_cc_121200_19_ab.html
*********************************************************

A Cambridge Energy Research Associates Conference Call and Web Presentation
with North American Natural Gas and Refined Products Groups

TOPIC
Volatility in the Northeast Energy Markets: Natural Gas and Distillate Fuels

* National perspective: The gas price shock.
* Price spikes in the Northeast energy markets so far this winter: more to
come?
* Natural gas storage levels: how low can they go?
* Distillate fuel oil: a source of relief for tight Northeast gas markets?

FORMAT
At the time listed below, our speakers will address this topic for
approximately 30 minutes, with accompanying graphics presented on the
Internet, followed by an open question and answer period.

SPEAKERS
Robert Fleck, CERA Associate Director, North American Gas
Martin Meyers, CERA Director, Refined Products
Jennifer Snyder, CERA Associate Director, North American Gas
William Veno, CERA Director, Refined Products

TIME
3:00 P.M. Eastern, Monday, December 18, 2000

ELIGIBILITY
Clients eligible to participate in this conference call are those who
subscribe to the CERA North American Natural Gas and Refined Products
Retainer Advisory Services.

AUDIO & INTERNET
For the AUDIO portion of the call, please call in on one of the following
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Juan,

I did not go to Fidelity.  It was a friend's b-day.  Let me know what you
think.

Laura

>>> juan hernandez <purogallo@yahoo.com> 05/11/01 05:38PM >>>
Sorry laura i have not had a chance to check my email
lately.  why don't you start e-mailing me at
juan.hernandez@enron.com
--- Laura Hernandez <Laura.Hernandez@trw.com> wrote:
> Juan,
>
> Can you help reevaluate my 401K options?  On Friday,
> I'm going to Fidelity and I want to compare what
> they say.
>
> PUTNAM INVESTORS FUND Y 25%
> PUTNAM S&P 500 INDEX PORTFOLIO  25%
> PUTNAM SMALL CO EQTY PORTFOLIO  25%
> TRW BALANCED FUND   25%
>
> Laura
>
> I can also change to the following:
> BERNSTEIN INT'L VALUE II
> FIDELITY MAGELLAN
> PIMCO TTL RETURN INSTITUTIONAL
> PRIMCO STABLE VALUE FUND
> PUTNAM INTERNATIONAL GROWTH Y
>

__________________________________________________
Do You Yahoo!?
Yahoo! Auctions - buy the things you want at great prices
http://auctions.yahoo.com/


Dan

I'm leaving for a couple of weeks.  I'll get you my computer when I come back.

John


Per Jaime Ginsberg's request I am forward our form of Confidentiality
Agreement for your review.


I am ok so long as the firm would never pursue litigation against Enron -- on that basis I would grant the waiver.  Mark

 -----Original Message-----
From: 	Douglas, Stephen H.
Sent:	Monday, September 24, 2001 7:27 PM
To:	Haedicke, Mark E.
Subject:	Conflict Waiver

I have periodically received requests from Andy Kramer in the form of the attached.  How should I address this issue?  I would not want to provide a waiver that may otherwise raise an issue for Enron.  Thanks in advance for your guidance.  SHD. << File: McDermott Will Waiver.DOC >>


Kern River Open Season

Kern River is holding an open season through Aug. 18 to determine interest in
year-round FT to Nevada
and California and interest in capacity relinquishment by existing firm
shippers. The pipeline said it can
offer significantly reduced FT rates based on recent FERC approval of Kern
River's Extended Term
Rate Program (ET Program). Under ET Program, customers could receive a rate
reduction from $0.64/Dth
to approximately $0.42 under a 15-year contract. Because system expansion can
be accomplished by the
addition of compression facilities, it could result in an overall lowering of
rolled-in rates for all shippers, Kern
River said. Depending on open season results, the pipeline is proposing a
mainline expansion of up to 500
MMcf/d with an in-service target date of May 1, 2002. If goals can be met
using relinquished capacity and no
new facilities are required, new service could begin as early as Oct. 1,
2001. Call Laurie Brown at
(801) 584-6410 or Greg Snow at -7270 for more information.

Panda Links to Transmission Grid for Gila Bend Plant

Panda Energy International inked a firm electrical transmission agreement
with Arizona Public Service to
supply power from its proposed natural gas-fired 2,000 MW plant to be located
in the town of Gila Bend. The
proposed plant is before the Arizona Corporation Committee for review. Senior
vice president of merchant
plant development for Panda, Garry Hubbard, said that the firm contract is "a
critical step forward for the
plant." The new plant is on schedule to commence construction later this
year, with start up 18 months later,
he added. Powering the plant will be eight General Electric 7 FA natural gas
turbines operating in combined
cycle.


Nom change effective 6/27/2000

---------------------- Forwarded by Beverly Beaty/HOU/ECT on 06/26/2000 08:11
AM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Jan Svajian" <Jan.Svajian@dvn.com>
06/26/2000 07:52 AM

To: <Beverly.beaty@enron.com>
cc:
Subject: Nom Change for New Well Haynes 21 on Tejas

See Attached.

 - Enron Nom Change.xls


Your buddy Beau invited me.  How about prior to that or after that on Tuesday.

 -----Original Message-----
From: 	Arnold, John
Sent:	Sunday, February 25, 2001 7:10 PM
To:	Lavorato, John
Subject:	RE:

not really...

already have plans on thursday .

are you going to the NYMEX candidate cocktail hour Tuesday?

From:	John J Lavorato/ENRON@enronXgate on 02/25/2001 07:02 PM
To:	John Arnold/HOU/ECT@ECT
cc:
Subject:	RE:

oh god is there an agenda.

Would dinner Thursday work instead.

-----Original Message-----
From: Arnold, John
Sent: Sun 2/25/2001 6:42 PM
To: Lavorato, John
Cc:
Subject:


Jan,
I agree that the meetings are too large.  However, I think it is imperative
that each discipline be represented in the meeting.  To that end, I would ask
that each of Accounting, Regulatory and Legal send no more than two
representatives to participate in the TARL meeting in Houston.  A commercial
person should attend as well.  The only exception to this rule should be a
temporary exception for you and Mike to call in, with other exceptions to be
made as hot issues arise.

Angie will see what she can do about arranging a videoconference but does not
make any promises, as any type of conference room is difficult to find these
days.

Minutes would be great.  Given that the most recent TARL meeting was entirely
about your area of responsibility, we volunteer you to write those minutes.

Thanks.

W. Wayne Gardner
Enron Broadband Services
1400 Smith Street
Houston, TX  77002-7361
Phone:  713 853 3547
Fax:  713 646 2532

	Jan Haizmann@ECT
	24/01/2001 07:57

		 To: Angie Buis/Enron Communications@ENRON COMMUNICATIONS@ENRON
		 cc: Alisa Christensen/Enron Communications@Enron Communications, James
Ginty/Enron Communications@Enron Communications, Beth Wapner/Enron
Communications@Enron Communications, David DeGabriele/Enron
Communications@Enron Communications, Richard Anderson/Enron
Communications@Enron Communications, Rajen Shah/LON/ECT@ECT, Cynthia
Harkness/Enron Communications@Enron Communications, Derenda Plunkett/Enron
Communications@Enron Communications, Donald Lassere/Enron
Communications@Enron Communications, Gerry Willis/Enron Communications@Enron
Communications, Jan Haizmann/LON/ECT@ECT, Jane
Wilson/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jeff Dasovich/NA/Enron@ENRON,
Lara Leibman/Enron Communications@Enron Communications, Malini
Mallikarjun/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Michael
Norris/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Michelle Hicks/Enron
Communications@Enron Communications, Mike
Dahlke/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Robbi Rossi/Enron
Communications@Enron Communications, Sue Nord/NA/Enron@Enron, Xi Xi/Enron
Communications@Enron Communications, Michael Grimes/AP/Enron@Enron, Carolyn
Barrett/Enron Communications@Enron Communications, Wayne Gardner/Enron
Communications@Enron Communications, Kathleen Noble/Enron
Communications@Enron Communications
		 Subject: Re: TAR&L MEETINGS, 1/25, 2/1 & 2/8

Dear all:

Following my experience of the last meeting, my feeling is that we need more
to focus on some items instead of having ever expanding discussions. I am in
favour of having smaller meetings instead of big cometogethers. I thing that
meeting should focus on two or three subjects and having smaller teams to
work out solutions on specified tasks. I also think that we can achieve
better time efficiency without losing the learning effect of discussing.

A second point would be my preference to have you on the screen. In
particular for those dialling in from abroad, it would be helpful in order to
better follow the discussion.

Lastly, I wonder whether it would not be useful to have short minutes of
every meeting for those who did not succeed in participating.

Let me have your thoughts on these suggestions.

Jan

ANGIE BUIS@ENRON COMMUNICATIONS
22/01/2001 20:57
To: Alisa Christensen/Enron Communications@Enron Communications, James
Ginty/Enron Communications@Enron Communications, Beth Wapner/Enron
Communications@Enron Communications, David DeGabriele/Enron
Communications@Enron Communications, Richard Anderson/Enron
Communications@Enron Communications, Rajen Shah/LON/ECT@ECT, Cynthia
Harkness/Enron Communications@Enron Communications, Derenda Plunkett/Enron
Communications@Enron Communications, Donald Lassere/Enron
Communications@Enron Communications, Gerry Willis/Enron Communications@Enron
Communications, Jan Haizmann/LON/ECT@ECT, Jane
Wilson/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jeff Dasovich/NA/Enron@ENRON,
Lara Leibman/Enron Communications@Enron Communications, Malini
Mallikarjun/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Michael
Norris/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Michelle Hicks/Enron
Communications@Enron Communications, Mike
Dahlke/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Robbi Rossi/Enron
Communications@Enron Communications, Sue Nord/NA/Enron@Enron, Xi Xi/Enron
Communications@Enron Communications, Michael Grimes/AP/Enron@Enron, Carolyn
Barrett/Enron Communications@Enron Communications
cc: Wayne Gardner/Enron Communications@Enron Communications, Kathleen
Noble/Enron Communications@Enron Communications

Subject: TAR&L MEETINGS, 1/25, 2/1 & 2/8

I have reserved conference room EB 4325 for the next 3 TAR&L meetings (1/25,
2/1 & 2/8).  The meeting will run from 8:30 to 11:30 and a light breakfast
will be served.

The dial in number for these next 3 meetings is as follows:

International Participants: 1-805-240-9463, passcode 449834
Domestic Participants:  1-888-232-3866. passcode 449834

Host (Wayne):   1-888-232-3866, passcode 860073 (host only)

There are a total of seven ports and automatic port expansion should
additional parties wish to join in.  All that is necessary is to dial the
appropriate number above.

Should you have any questions, or need additional assistance, please do not
hesitate to contact me at 713-853-7097.

Thanks!

Angie Buis
EBS Tax
(713) 853-7097


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<TITLE> U.S. Transmission Industry Report</TITLE>

Energy
        Info Source's U.S. Transmission Report is a 550-page, 4 part report which provides all you need to know about
        the fast ch!
anging transmission industry. The report takes a wide-ranging
        look at changes in the structure
        of the business, assesses current and projected reliability
        issues, examines how transmission is effecting bulk power markets, and analyzes the FERC-mandated RTO filings.</o:p>

        Now in its 15th year of publication,
        Wheeling & Transmission Monthly is the only source of comprehensive
        information on transmis!
sion and bulk power filings at the FERC. Every
        filing at FERC during the past month is summarized, complete with docket
        number for pulling the entire file. The most important filings are
        featured in "Bulk Power Highlights." WTM also covers the key
        decisions at FERC, and stories at the Regional Transmission
        Organizations and Independent System Operators. It is a continuing
        update to your U.S. Transmission Industry Report. Normally $345, it is
        FREE with your order of the U.S. Transmission Report. Delivered in pdf
        format by email. Published by the Power Marketing Association.

Click
        Here to Download Ordering Information, a Complete Table of Cont!
ents and
        a Free Issue of Wheeling & Transmission Monthly

The
            History of Transmission
            in the U. S.

The
            Impact of FERC Orders 888
            and 889

FERC's
            Push Toward RTOs through the Merger
            Approval Process <o:p>
            </o:p>

Discussion
            of the Creation of TransCos
            <o:p>
            </o:p>

Detailed
            Analysis of FERC Order 2000
            <o:p>
            </o:p>

D!
etailed
            Discussion, Analysis, and Comparison of October 15 RTO Filings --
            including Innovative Rate
            Treatments <o:p>
            </o:p>

Discussion
            of Current ISOs and Projections on their Jan.
            15 RTO Filings <o:p>
            </o:p>

Listing
            of FERC Dockets  and Policy
            Statements  Regarding RTOs <o:p>
            </o:p>

Maps
            of Proposed TransC0 and RT0 Territories

<o:p>
        </o:p>

Review
            of NERC's 2000 Reliability
            Assessment <o:p>
            </o:p>

Review
            of FERC Investigation of Bulk
            Power  Markets <o:p>
            </o:p>

Discussion
            of California's Wholesale
            Market Problems <o:p>
            </o:p>

Analysis
            of Pricing Trends and Price
            Caps  in ISOs <o:p>
            </o:p>

FERC
            Action On October 15th RTO
            Filings <o:p>
            </o:p>

Detailed
            Discussion, Analysis, and Comparison of January
            15 RTO Filings <o:p>
            </o:p>

Tables
            of Regional Demand and Capacity

Analysis
            of FERC Conditional Approval of GridSouth
            TransCo <o:p>
            </o:p>

GridSouth?s
            Request for Clarification on FERC Order <o:p>
            </o:p>

Analysis
            of FERC Conditional Approval of GridFlorida
            TransCo <o:p>
            </o:p>

Analysis
        !
    of FERC Rejection of Southern Company?s SeTrans
            GridCo <o:p>
            </o:p>

Analysis
            of FERC Directed Changes to Southwestern
            Power Pool/Entergy Hybrid RTO  Proposal <o:p>
            </o:p>

Update
            on Alliance and Midwest ISO Settlement <o:p>
            </o:p>

Analysis
            of FERC Conditional Approval of RTO
            West

History of
             FERC RTO
  Activities <o:p>

Analysis of
             Southeastern RTO Mediation
  Report

Analysis of
             Northeastern RTO  Mediation
  Report <o:p>
  </o:p>

Update on RTOs -
             Alliance and Midwest <o:p>
  </o:p>

Update on
             TransCos - ITC, TransLink, and
  WestConnect<o:p>

Click
        Here to Download Ordering Information, a Complete Table of Contents and
        a Free Issue of Wheeling & Transmission Monthly

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Mark:  Can you reassign this?  Thanks.  SS

 -----Original Message-----
From: 	Shackleton, Sara
Sent:	Wednesday, September 19, 2001 9:57 AM
To:	Taylor, Mark E (Legal)
Subject:	FW: Status of Plains/Enron contracts

Mark:  Can you reassign this?  I'm getting swamped.  SS

 -----Original Message-----
From: 	Smith, Mark
Sent:	Wednesday, September 19, 2001 9:24 AM
To:	Shackleton, Sara
Subject:	Status of Plains/Enron contracts

Sara,
	I was just following up on what the status of our review of the "Three-way" agreement and referral agreement contracts that we are pursuing with Plains Resources, in order to facilitate small producer hedging.  If you could give me a call or reply with where we stand, I would appreciate it.  Thanks

Mark

Mark D. Smith
Manager
Enron North America
713-853-6601
Mark.Smith@enron.com