I think that gathering this information at interview makes the most sense.
Obviously, new hire orientation is too late!  I prefer an original, signed
document, but a fax is an ok substitute, provided that the applicant mails us
the originals after faxing.  Thanks.  MHC

Cynthia Gonzalez@ENRON
08/28/2000 08:20 AM
To: Hector McLoughlin/Corp/Enron@Enron, Toni Graham/Corp/Enron@Enron
cc: Michelle Cash/HOU/ECT@ECT, Sheila Walton/HOU/ECT@ECT
Subject: Re: New Hires and Background Checks

Having the candidate fill out the employment application and authorization to
complete a background check at the time they are interviewed.
Or, told they have to return these two documents along with their signed
offer letter by mail/fax.

I think faxing would be quicker.

Some candidates are being told they can complete these forms during new hire
orientation.

Hope this helps.
Thanks
Cynthia

	From:  Hector McLoughlin                           08/25/2000 05:06 PM

To: Cynthia Gonzalez/Corp/Enron@Enron, Toni Graham/Corp/Enron@Enron
cc: Michelle Cash/HOU/ECT@ECT, Sheila Walton/HOU/ECT@ECT

Subject: Re: New Hires and Background Checks

Cynthia & Toni,
What changes or processes can we implement so that we can have background
checks before the employee starts?
hgm

Cynthia Gonzalez
08/25/2000 02:07 PM
To: Hector McLoughlin/Corp/Enron@Enron, Toni Graham/Corp/Enron@Enron
cc:

Subject: New Hires and Background Checks

The following are scheduled to start on Monday, 8/28, we have either not
recevied their completed background checks or have not processed them because
we have not received necessary paper work to process.

Chris Price   processed - not complete He says there is nothing to worry
about.
Patricia Houston processed - not complete
Stanton Brown  not processed
Beverly Filer  not processed
Prescilla Hamic  not processed

As soon as the paper work is received, the background checks will be
processed.

Please advise if okay.
Thanks
Cynthia
ext. 5-8891


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

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

Crude     http://www.carrfut.com/research/Energy1/crude50.pdf
Natural Gas     http://www.carrfut.com/research/Energy1/ngas50.pdf
Distillate     http://www.carrfut.com/research/Energy1/hoil50.pdf
Unleaded     http://www.carrfut.com/research/Energy1/unlded50.pdf

July Crude     http://www.carrfut.com/research/Energy1/CLN50.pdf
Brent Continuation     http://www.carrfut.com/research/Energy1/QO50.pdf

Nat Gas Strip Matrix
http://www.carrfut.com/research/Energy1/StripmatrixNG50.pdf
Nat Gas Spread Matrix
http://www.carrfut.com/research/Energy1/SpreadmatrixNG50.pdf

Crude and Products Spread Matrix
http://www.carrfut.com/research/Energy1/SpreadmatrixCL50.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


Todd/Joe -

Thanks for the time earlier today on this matter.  I know that both Bob and I
appreciate your attention to these agreement.

Consistent with our conversation, I have made changes to both the Fee
Agreement and BETA.  I have attached marked versions of these documents
reflecting my additional changes (all additions marked in caps and bolded).
I have also attached "clean" drafts which incorporate all prior changes and
reflect the last set of Enron additions in caps and bold.

On the Fee Agreement, two changes were made that were not discussed, both in
relation to the Access Fee.  I apologize for not having raised these points,
but they were overlooked in my notes.  The first of these changes is the
deletion of the concept of a partial quarterly payment.  The concept behind
the Access Fee is that it is an annual fee that is to be collected at the
time the Fee Agreement is signed; however, because of our negotiations, we
are comfortable allowing the fee to be paid over the year in four equal
installments.  Accordingly, a partial payment should not occur as we are
contemplating a contract running for a full calendar year.

Secondly, the last sentence of the Access Fee paragraph has been modified.
It is intended by Enron that any entity who has signed a BETA is subject to
paying an Access Fee.  No subsidiary of APB should be signing a BETA unless a
Fee Agreement has been completed.

Finally, in the interest of time, I am forwarding the attached without first
having had Bob review the changes.  If any additional changes need to be made
based upon his review, I will let you know.

Please take a look at the attached at your earliest convenience and let
either me or Bob know what, if any, additional comments or questions you may
have.

Once again, thanks for the cooperation on this matter.

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


The Stevens co.#4 dehy has been shutdown to make repairs and will be down 3 to 4 days.


Please see attached. The ammendments are specified in purple.

Regards,

Aparna Rajaram
ext. 5-4563


Vince,
John Woodley and Catherine Flax both are looking forward to talking with you today.
I, and I know you do also, have the highest regard for Morgan Stanley and their stature in the energy business.
John Woodley's phone  212-761-5936  and I get Catherine at that number also.
Main #			212-761-4000

Best to you,
Bill
PS - I am calling up each of the resumes that you sent to me.  There are really special people.

William J. Toriello
Director of Energy Recruitment
Brookville Search, Inc.
212-697-8080 x3103


I spoke with Bill about this and he agreed it was a good idea.

Susan Flynn
08/04/99 02:41 PM
To: Tanya Rohauer/HOU/ECT@ECT
cc: Mark - ECT Legal Taylor/HOU/ECT@ECT
Subject: ECT North America Executed Master Agreements

 Tanya   - Is it possible that Credit could include the restrictions listed
on the Executed Master Agreement list (see current version in attachment
below) on your department's  Credit Watch List?    In one of our group
meetings, we were discussing this idea.   We thought it might more sense to
include the information on an existing report, instead of creating another
report.    Please let me know.

---------------------- Forwarded by Susan Flynn/HOU/ECT on 08/04/99 02:36 PM
---------------------------

Susan Flynn
08/04/99 02:32 PM
To: Information Risk Management/HOU/ECT@ECT
cc:
Subject: ECT North America Executed Master Agreements

 Please send the attached list to all ECT North America as a WORD DOCUMENT
today, Wednesday, August 4, 1999.   The subject should read as follows:   ECT
North America Executed Master Agreements.   The text should read as
follows:   See the attached list of executed Master Agreements (covering U.S.
and Canada financial transactions only).


Updated to include comments received as of Friday, 10/19.  According to FERC's website, these parties have filed comments, but I don't have them yet:

Pacific Gas & Electric
CPUC
Dynegy
Williams Energy Marketing & Trading
SoCal Edison
Aquila
El Paso Natural Gas
Southern California Generation Coalition

Will summarize as soon as I get copies.

 -----Original Message-----
From: 	Cantrell, Rebecca W.
Sent:	Thursday, October 18, 2001 6:41 PM
To:	Lawner, Leslie; Allen, Phillip K.; Black, Don; Calcagno, Suzanne; Courtney, Mark; Dasovich, Jeff; Ermis, Frank; Fulton, Donna; Gay, Randall L.; Grigsby, Mike; Hewitt, Jess P.; Holst, Keith; Kaufman, Paul; Kuykendall, Tori; Mara, Susan; McMichael Jr., Ed; Miller, Stephanie; Nicolay, Christi L.; Smith, Matt; Sullivan, Patti; Superty, Robert; Tholt, Jane M.; Tycholiz, Barry
Cc:	Steffes, James D.; Pharms, Melinda; Canovas, Guillermo
Subject:	Comments of the Other Parties on El Paso System Reallocation, RP00-336

This is a summary of the comments we've received so far from the other parties who filed on October 15.  I'll summarize the others as they come in and redistribute this report.

 << File: Summary of 10-15-01 Comments.doc >>


CALENDAR ENTRY:	APPOINTMENT

Description:
	Team Leader Mtg. Conference room EB4102

Date:		12/11/2001
Time:		2:30 PM - 3:30 PM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 01/23/2001
09:38 AM ---------------------------

"John D. Martin" <J_Martin@baylor.edu> on 01/20/2001 10:42:56 AM
To: vkamins@enron.com
cc:
Subject: Latest draft--comments?

Vince,

This is my latest effort and I would appreciate your thoughts.  I know that
we haven't written together before so let me assure me that you will not
hurt my feelings by "slashing away" with a red pen.  I think that I have
put all the clay on the table for this piece of sculpture but it is still
pretty crude.  Help me "refine" the work to create something we can both be
very proud of.

By the way, I know you are extremely busy right now so don't feel pressured
to spend lots of time here.  Any guidance you can offer will be
appreciated.  I don't know what the editor's time schedule is but he asked
me to send him a draft on Monday.  You and I will still be able to edit the
manuscript but he will begin reading and editing it too.  I'll let you know
as soon as I have a final deadline.

Your friend,

John

p.s. Hope life is a bit calmer for you.  By the way, I'm reading an
interesting book entitled "The Four Agreements" by Miguel Ruiz that
documents the Toltec philosophy of life in the context of the dreams of
reality that we all create.  You might enjoy it.
 - Enron_Paper_1_16_01.doc

John D. Martin
Carr P. Collins Chair in Finance
Finance Department
Baylor University
PO Box 98004
Waco, TX 76798
254-710-4473 (Office)
254-710-1092 (Fax)
J_Martin@Baylor.edu
web:    http://hsb.baylor.edu/html/martinj/home.html


Per my voicemail, attached is a list of business items that need to get put
in place in order for Midwest Energy Hub LLC to be fully operational.  There
are probably others that I have missed and would welcome any additions you
may have.  One thing I did not include was any internal Enron approvals,
(DASH, Legal risk memo) that may be necessary.

Call me when you have a chance to talk through the list.

Thanks,

Gregg


I also noticed the ISDA memo, and was rooting around looking for the
attachments that went with it, and couldn't find them.  There was also a few
updates in a second memo there to some country opinions.  If and when Mark
calls in I was going to ask him if he knows where the attachments went,
because the one will cost $100 if we have to order it.


Hey guys, just thought this was a fun one to keep passing around and
hopefully it will make wishes come true for all of us during the holiday
season.  Have a great Holiday and I will talk to you all soon.
Love, kim

>From: BotanExp@aol.com
>To: Gabler51@aol.com, RLRRamjet@aol.com, HighRock45@aol.com,
>TKirkw44@aol.com,        kimberly_kirkwood@hotmail.com
>Subject: Fwd: Fw: THIS IS SCARY!!! DO IT!!
>Date: Tue, 12 Dec 2000 15:10:36 EST
>
>

______________________________________________________________________________
_______
Get more from the Web.  FREE MSN Explorer download : http://explorer.msn.com

Content-Transfer-Encoding: 7bit
Return-Path: <bbbike@pdq.net>
Received: from  rly-zb03.mx.aol.com (rly-zb03.mail.aol.com [172.31.41.3]) by
air-zb03.mail.aol.com (v77.14) with ESMTP; Thu, 07 Dec 2000 19:15:17 -0500
Received: from  mail2.iadfw.net (mail2.iadfw.net [206.66.12.234]) by
rly-zb03.mx.aol.com (v77.27) with ESMTP; Thu, 07 Dec 2000 19:14:29 -0500
Received: from bbbike from [209.196.110.4] by mail2.iadfw.net (/\##/\
Smail3.1.30.16 #30.11) with smtp for <roadkingto@aol.com> sender:
<bbbike@pdq.net> id <mR/144BBY-0006j6R@mail2.iadfw.net>; Thu, 7 Dec 2000
18:14:48 -0600 (CST)
Message-ID: <00e701c060aa$e4a50260$366fc4d1@bbbike>
From: "B Bike" <bbbike@pdq.net>
To: "Tom Oglesby" <roadkingto@aol.com>, "Bubba Brown"
<l.brown@ssss.com>,        "Buck M Rackley" <bssnm@uswest.net>,        "Susie
Goodwin" <BotanExp@aol.com>,        "James Stone"
<stonejames@worldnet.att.net>
Subject: Fw: THIS IS SCARY!!! DO IT!!
Date: Thu, 7 Dec 2000 18:07:44 -0600
MIME-Version: 1.0
Content-Type: text/plain; charset="iso-8859-1"
X-Priority: 3
X-MSMail-Priority: Normal
X-Mailer: Microsoft Outlook Express 5.00.2919.6600
X-MimeOLE: Produced By Microsoft MimeOLE V5.00.2919.6600

----- Original Message -----
From: "Walker, Susan" <swalker@velaw.com>
To: <stdesw12@shsu.edu>; <bbbike@pdq.net>; "Munoz, Jennifer"
<jamunoz@velaw.com>; "Chanslor, Natalie" <nchanslor@velaw.com>;
"Guillen-Lazo, Stella" <sguillen-lazo@velaw.com>
Sent: Thursday, December 07, 2000 11:22 AM
Subject: FW: THIS IS SCARY!!! DO IT!!

> Sorry to send this but I could use a wish.
>
> -----Original Message-----
> From: Harris, Lysa
> Sent: Thursday, December 07, 2000 8:57 AM
> To: Katzen, Bert; Walker, Susan; Nichols, Judy; Dozier, Nancy; Richter,
> Heidi
> Subject: FW: THIS IS SCARY!!! DO IT!!
>
>
>
> Sorry, but I don't need any more bad luck.
> -----Original Message-----
> From: Henry, Rosie
> Sent: Thursday, December 07, 2000 8:41 AM
> To: Sossaman, Jan; Salmon, Kelly; McCartney, Linda; Acrey, Rhonda;
> Price, Diane R.; Holmes, Sharon; Hager, Nancy; Harris, Lysa; Musgrove,
> Karen; Kenna, Elaine; Barker, Sharon; Byers, Estela;
> 'dmuery@geopursuit.com'; 'bfore@computalog.com'
> Subject: FW: THIS IS SCARY!!! DO IT!!
>
>
>
>
> -----Original Message-----
> From: Sacramento, Marilyn
> Sent: Thursday, December 07, 2000 6:13 AM
> To: Leonor Mendoza (E-mail); Barker, Sharon (E-mail); Bolden, Helen
> (E-mail); Byers, Estela (E-mail); Carolyn Marshall (E-mail); Comer,
> Linda (E-mail); Davis, Arnette (E-mail); Goddin, Dawn R. (E-mail);
> Gravois, Carolyn (E-mail); Henry, Rosie (E-mail); Hunt, Dona (E-mail);
> Kenna, Elaine (E-mail); McQuerry, Linda; Paul, Frances (E-mail); Pauline
> Akers (E-mail); Penick, Maricarmen (E-mail); Stephanie Adams (E-mail);
> Suzanne Altenburg (E-mail)
> Subject: FW: THIS IS SCARY!!! DO IT!!
>
>
>
>
> -----Original Message-----
> From: Currey, Julie
> Sent: Tuesday, December 05, 2000 8:06 AM
> To: Williamson, Tina; 'djacurrey@aol.com'; 'A8J15CUT@aol.com';
> Sacramento, Marilyn; Lannin, Joanne
> Subject: FW: THIS IS SCARY!!! DO IT!!
>
>
> Sara Hanson sent this to me so I figured I better do it!!
>
> .
>
> > -----Original Message-----
> > From: Huddleston, Mary
> > Sent: Monday, December 04, 2000 10:24 AM
> > To:   Turner, Kathy E.; Wolf, John F.; Wolf, Sherry; Sampson, Katie;
> > White, Mary Ellen; Bolen, Theresa Y.; Cerisano, Aleta D.; Smith, Cheryl
> > D.; Kearns, Gary; Bockelman, John
> > Subject:  FW: THIS IS SCARY!!! DO IT!!
> >
> > I had to do this one.... just in case it can come true.
> > Mary H
> >
> > -----Original Message-----
> > From: Burg, Martha
> > Sent: Monday, December 04, 2000 9:35 AM
> > To:   Leigh, Sally; Hill, Karen L.; Williams, Evelyn; Huddleston, Mary;
> > Rich, Gerry Ann; Harden, Loretta; Turner, Kathy E.
> > Subject:  THIS IS SCARY!!! DO IT!!
> >
> >
> > Good Luck
> >
> >
> > Subject: Fwd: THIS IS SCARY!!! DO IT!!
> >
> > This Is  Scary!!
> > The Phone Will  Ring Right After You Do This. . .
> > Just read the little stories and make a wish.
> > Scroll all the  way to the bottom and there is a little message there
> > -then do  it. No attachment on this one.
> >
> > I'm 13 years old, and I wished that my dad would come home from the
army,
> > because he'd been having problems with his heart and right leg. It  was
> > 2:53 p.m. that I'd made the wish.  At 3:07 p.m. (14 minutes later),  the
> > doorbell rang, and there he was, luggage and all!!
> >
> > Katie
> >
> >
> > I'm 20 and I've  been having trouble in my job and on the verge of
> > quitting.
> > I made a simple  wish that my boss would get a new job.  That was at
1:35
> > and at 2:55 there was an announcement that he was promoted.
> >
> > Lisa
> >
> >
> > Believe me...this really works!!  Just scroll down to the end, but while
> > you do, make a wish.  Whatever age you are, is the number of minutes it
> > will take for your wish to come true (ex. you are 15 years old, it will
> > take 15 minutes for your wish to come true).  If you don't send this to
> > people in 5  minutes, you will have bad luck for years!!
> >
> > Go!!!!!!
> > *
> > **
> > ***
> > ****
> > *****
> > ******
> > *******
> > ********
> > *********
> > **********
> > ***********
> > ************
> > *************
> > **************
> > ***************
> > ****************
> > *****************
> > ******************
> > *******************
> > ********************
> > *********************
> > **********************
> > ***********************
> > ************************
> > *************************
> > **************************
> > ***************************
> > ****************************
> > *****************************
> > ******************************
> > *******************************
> > ********************************
> > *********************************
> > **********************************
> > ***********************************
> > **********************************
> > *********************************
> > ********************************
> > *******************************
> > ******************************
> > *****************************
> > ****************************
> > ***************************
> > **************************
> > *************************
> > ************************
> > ***********************
> > **********************
> > *********************
> > ********************
> > *******************
> > ******************
> > *****************
> > ****************
> > ***************
> > **************
> > *************
> > ************
> > ***********
> > **********
> > *********
> > ********
> > *******
> > ******
> > *****
> > ****
> > ***
> > **
> > *
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   > >**
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   > >***
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   > >****
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   > >*****
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   > >******
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   > >*******
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   > >********
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >*********
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >**********
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >***********
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >*************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >**************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >***************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >****************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >*****************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >******************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >*******************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >********************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >*********************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >**********************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >***********************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
>*************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
>**************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
> > >***************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
> > >****************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
> > >*****************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
> > >>>> >******************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
> > >>>> >*******************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
> > >>>> >********************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
> > >>>> >*********************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
> > >>>> >**********************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
> > >>>> >> >***********************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
> > >>>> >**********************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
> > >>>> >*********************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
> > >>>> >********************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
> > >>>> >*******************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
> > >>>> >******************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
> > >*****************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
> > >****************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
> > >***************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
>**************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
>*************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >***********************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >**********************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >*********************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >********************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >*******************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >******************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >*****************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >****************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >***************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >**************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >*************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >***********
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >**********
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >*********
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   > >********
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   > >*******
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   > >******
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   > >*****
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   > >****
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   > >***
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   > >**
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   > >*
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   > >**
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   > >***
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   > >****
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   > >*****
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   > >******
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   > >*******
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   > >********
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >*********
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >**********
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >***********
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >*************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >**************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >***************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >****************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >*****************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >******************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >*******************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >********************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >*********************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >**********************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >***********************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
>*************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
>**************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
> > >***************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
> > >****************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
> > >*****************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
> > >>>> >******************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
> > >>>> >*******************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
> > >>>> >********************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
> > >>>> >*********************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
> > >>>> >**********************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
> > >>>> >> >***********************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
> > >>>> >**********************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
> > >>>> >*********************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
> > >>>> >********************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
> > >>>> >*******************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
> > >>>> >******************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
> > >*****************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
> > >****************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
> > >***************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
>**************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
>*************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >************************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >***********************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >**********************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >*********************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >********************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >*******************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >******************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >*****************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >****************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >***************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >**************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >*************
> > >>>> >> > >>>>>>>> > >>> > > > > >
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >************
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >***********
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >**********
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >*********
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   > >********
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   > >*******
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   > >******
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   > >*****
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   > >****
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   > >***
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   > >**
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   > >*
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   > >
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >  >STOP!!!!!!!!
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   > >
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   >
> > >>>> >Congratulations!!!!!!!!!!!!!!!!!
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   > >Your wish will  now come
> > true in your
> > >>>> >> > >>>>>>>>age
> > >>>> >> > >>>>>>>> > minutes!!
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >   > >Now follow this
> > carefully.... it can be very rewarding!!!!  If you send this to 10 more
> > people, other than the 5 that you already have to send to, something
major
> > that you've been wanting will happen  .
> > >>>> >>
> > >>>>
> >
>>>>>>>>__________________________________________________________________
> > __
> > >>>> >>_____
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > > >
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >
> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >
> > >>>> >> > >>>>>>>> > >>> > > > > > >> >
> > >>>> >> > >>>>>>>> > >>> > > > > > >> >
> > >>>> >> > >>>>>>>> > >>> > > > > > >> >
> > >>>> >> > >>>>>>>> > >>> > > > > > >>
> > >>>> >> > >>>>>>>> > >>> > > > > > >>
> > >>>> >> > >>>>>>>> > >>> > > > > > >
> > >>>> >> > >>>>>>>> > >>> > > > > > >
> > >>>> >> > >>>>>>>> > >>> > > > > >
> > >>>> >> > >>>>>>>> > >>> > > > > >
> > >>>> >> > >>>>>>>> > >>> > > > > >
> > >>>> >> > >>>>>>>> > >>> > > > > >
> > >>>> >> > >>>>>>>> > >>> > > > > >
> > >>>> >> > >>>>>>>> > >>> > > > > >
> > >>>> >> > >>>>>>>> > >>> > > > > >
> > >>>> >> > >>>>>>>> > >>> > > > > >
> > >>>> >> > >>>>>>>> > >>> > > > > >
> > >>>> >> > >>>>>>>> > >>> > > > > >
> > >>>> >> > >>>>>>>> > >>> > > > > >
> > >>>> >> > >>>>>>>> > >>> > > > > >
> > >>>> >> > >>>>>>>> > >>> > > > > >
> > >>>> >> > >>>>>>>> > >>> > > > > >
> > >>>> >> > >>>>>>>> > >>> > > > > >
> > >>>> >> > >>>>>>>> > >>> > > > > >
> > >>>> >> > >>>>>>>> > >>> > > > > >
> > >>>> >> > >>>>>>>> > >>> > > > > >
> > >>>> >> > >>>>>>>> > >>> > > > > >
> > >>>> >> > >>>>>>>> > >>> > > > > >
> > >>>> >> > >>>>>>>> > >>> > > > > >
> > >>>> >> > >>>>>>>> > >>> > > > > >
> > >>>> >> > >>>>>>>> > >>> > > > > >
> > >>>> >> > >>>>>>>> > >>> > > > > >
> > >>>> >> > >>>>>>>> > >>> > > > > >
> > >>>> >> > >>>>>>>> > >>> > > > > >
> > >>>> >> > >>>>>>>> > >>> > > > > >
> > >>>> >> > >>>>>>>> > >>> > > > > >
> > >>>> >> > >>>>>>>> > >>> > > > > >
> > >>>> >> > >>>>>>>> > >>> > > > >
> > >>>> >> > >>>>>>>> > >>> > > >
> > >>>> >> > >>>>>>>> > >>> > >
> > >>>> >> > >>>>>>>> > >>> > >
> > >>>> >> > >>>>>>>> > >>> >
> > >>>> >> > >>>>>>>> > >>> >
> > >>>> >> > >>>>>>>> > >>>
> > >>>> >> > >>>>>>>> > >>>
> > >>>> >> > >>>>>>>> > >>
> > >>>> >> > >>>>>>>> > >>
> > >>>> >> > >>>>>>>> > >
> > >>>> >> > >>>>>>>> > >
> > >>>> >> > >>>>>>>> > >
> > >>>> >> > >>>>>>>> >
> > >>>> >> > >>>>>>>>
> > >>>> >> > >>>>>>>
> > >>>> >> > >>>>>>
> > >>>> >> > >>>>>
> > >>>> >> > >>>>
> > >>>> >> > >>>
> > >>>> >> > >>
> > >>>> >> > >
> > >>>> >> >
> > >>>> >> >
> > >>>> >> >
> > >>>>
> >
>>________________________________________________________________________
> > _
> > >>>> >> > Get Your Private, Free E-mail from MSN Hotmail at
> > >>>> >>http://www.hotmail.com.
> > >>>> >> >
> > >>>> >> > Share information about yourself, create your own public
profile
> > at
> > >>>> >> > http://profiles.msn.com.
> > >>>> >> >
> > >>>> >> >
> > >>>> >> >
> > >>>> >
> > >>>>
> >
>_________________________________________________________________________
> > >>>> >Get Your Private, Free E-mail from MSN Hotmail at
> > >>>>http://www.hotmail.com.
> > >>>> >
> > >>>> >Share information about yourself, create your own public profile
at
> > >>>> >http://profiles.msn.com.
> > >>>> >
> > >>>>
> > >>>
> > >>
> > >
> >
>_________________________________________________________________________
> > __
> > __________
> > >Get more from the Web.  FREE MSN Explorer download :
> > http://explorer.msn.com
> > >
> > >
>           ++++++CONFIDENTIALITY NOTICE+++++
> The information in this email may be confidential and/or privileged.  This
> email is intended to be reviewed by only the individual or organization
> named above.  If you are not the intended recipient or an authorized
> representative of the intended recipient, you are hereby notified that any
> review, dissemination or copying of this email and its attachments, if
any,
> or the information contained herein is prohibited.  If you have received
> this email in error, please immediately notify the sender by return email
> and delete this email from your system.  Thank You


Yesterday, the European Commission adopted a climate change package, which includes a draft directive on emissions trading, an instrument of EU ratification of the Kyoto Protocol and policies and measures to reduce greenhouse gas emissions.  Please the attached press release outlining the package.

Major provisions of the draft emissions trading directive include:

The emissions trading scheme has two phases -- first phase (2005 - 2007), second phase (2008 - 2012)

Penalties for non-compliance in first phase are 50 Euros per tonne or twice the average market price, whichever is higher; beyond 2008 the penalty would be 100 Euros per tonne or twice the average market price between 2008 and 2012 ,whichever is higher.

Permits are required in first phase for industrial and energy activities covered, chemicals and waste incinerators are not included in first phase (see Annex I of draft directive for the sectors covered)

Unrestricted access to the market by intermediaries

Banking allowed, but could be limited by individual Member States in first phase

National allocation (for free) in first phase, with provisions for new entrants (unspecificed); harmonized allocation rules by 2008

Possibilty to link with non-EU national emissions trading programs by MOU in first phase (aimed at accession states)

Only CO2 emissions are covered in the first phase, expanded to all GHG gases covered by 2008

Renewable energy certificates are not integrated with GHG allowances under the program

Emissions credits not incorporated into program, but desireable in future.  The EC will address this under a separate directive

I will work with Peter, Nailia, Diana and others to further analyse its implications for Enron.

Link to Draft Emissions Trading Directive:

<http://europa.eu.int/comm/environment/climat/com/01581_en.pdf>


---------------------- Forwarded by Robin Rodrigue/HOU/ECT on 02/20/2001
03:53 PM ---------------------------

Gabriel Monroy
10/20/2000 07:56 AM
To: Robin Rodrigue/HOU/ECT@ECT
cc:
Subject: Executive Reports Add-In

---------------------- Forwarded by Gabriel Monroy/HOU/ECT on 10/20/2000
07:54 AM ---------------------------
From: Vern Vallejo on 07/12/2000 06:04 PM
To: John Jacobsen/HOU/ECT@ECT, Robert Richard/Corp/Enron@ENRON, Mason
Hamlin/HOU/ECT@ECT, Eric Groves/HOU/ECT@ECT, Mark Confer/HOU/ECT@ECT, Frank
Prejean/HOU/ECT@ECT, Gabriel Monroy/HOU/ECT@ECT
cc: Sally Chen/NA/Enron@Enron, Kristin Walsh/HOU/ECT@ECT, Christa
Winfrey/HOU/ECT@ECT
Subject: Executive Reports Add-In

Attached is the latest version of the Add-In for publishing Executive
Reports.  It contains the "Pulp & Paper P&L", "Pulp & Paper Position", "Pulp
& Paper Price", "Emissions Summary", and "Natural Gas Net Fixed Price
Positions By Book (Ignores Correlation)" subroutines.

John Lavorato is expecting to see these publish reports in the updated viewer
tomorrow morning!

To use this latest version of the Add-In:

Close all instances of Excel.
Detach the attached websave2.xla file into the Microsoft Office's Library
directory.  Usually this is C:\Program Files\Microsoft Office\Office\Library
Launch Excel.
Under the Tools menu selection, select Add-Ins...
In the "Add-Ins available" list, look for "Websave."  If present, uncheck
it.  This is the old version of the add-in.
There should be a "Websave2" in the list.  This is the current version of the
add-in.  Check it and click the OK button.

I've also attached a workbook containing a buttons for the new reports that
you can copy and paste into your production workbooks.

Here are the named range values and the sheet names for the reports:

Named Range	Sheet Name
nr_NGFixPB  	Natural Gas Net Fixed
nr_EmSum  	Emissions Summary
nr_PPPL  	Pulp & Paper P&L
nr_PPPos  	Pulp & Paper Position
nr_PPPrice  	Pulp & Paper Price


---------------------- Forwarded by John Hodge/Corp/Enron on 05/04/2001 02:23 PM ---------------------------
   Enron Americas - Office of the Chairman
From:	Enron Americas - Office of the Chairman on 05/04/2001 08:17 AM
Sent by:	Enron Announcements
To:	All Enron Worldwide
cc:
Subject:	Organization Announcement

Given the growth in EES it has become apparent that it is time to consolidate the risk functions between EES and EWS.  This will provide EES with the systems, resources and risk expertise of the wholesale energy groups necessary for it to continue to grow and take advantage of current market opportunities.

With this in mind and in agreement with the management of EES, two new risk groups inside Enron Americas will be formed to provide EES with pricing, structuring, retail and wholesale commodity risk management, logistics and back-office services.  These groups main function is to provide these services to EES.  We have asked Rogers Herndon, currently Vice President-Trading in the Eastern Power Group to manage this function in the Eastern Interconnect (this includes both gas and power).  Rogers will continue to report to Kevin Presto.  We have asked Don Black, formerly Vice President-EES Risk Management and Sourcing, to manage this function in the Western U.S.  Don will manage this group from Houston and will report to Tim Belden.

These groups will work very closely with EES to pursue shared goals while ensuring close coordination with the wholesale gas and power trading organizations.

These changes are effective immediately.  Please congratulate Rogers and Don on their new roles.

John Lavorato & Louise Kitchen


Today's IssueAlert Sponsors:

 <http://www.energyventurefair.com/>

We are seeking 75 of the most promising energy-based technology and service companies to present at Energy Venture Fair II, January 29 & 30, 2002, Houston, TX-the follow-up to the explosively successful Energy Venture Fair I held in Boston in June. If you are a Senior Executive from one of these companies, and are interested in having a platform to present your vision and business plans before a national audience of investors, please contact Nannette Mooney at (818) 888-4445, Ext. 11, for more information, or via email at nannettem@energyventurefair.com <mailto:nannettem@energyventurefair.com>.

APPLY TODAY - SPACE IS LIMITED.
<http://www.energyventurefair.com>

 <http://www.nuclear-gen.com>

Infocast's Building New Nuclear Power Plants Conference brings together the leading operators, equipment manufacturers, regulators, financial analysts, and builders of nuclear power plants to one place to discuss the road forward for building new nuclear power. Contact Infocast at (818) 888-4444 for more information or go to www.nuclear-gen.com <http://www.nuclear-gen.com>

  <http://secure.scientech.com/rci/wsimages/scientech_logo_small.jpg>
  <http://secure.scientech.com/rci/wsimages/IssueAlert_Logo_188.jpg>

October 1, 2001

FERC Chairman Wood Ups the Ante on RTO Formations,
Outlines Long-Term Objectives for Industry

By Will McNamara
Director, Electric Industry Analysis

  <http://secure.scientech.com/rci/wsimages/will100border_copy.jpg>

[News item from Reuters] The chairman of the Federal Energy Regulatory Commission (FERC) said that all U.S. utilities must submit plans to the agency by Dec. 15 for joining regional transmission organizations (RTOs) or the firms and their affiliates would no longer be able to sell electricity in the wholesale market at market-based rates. Merger approvals for transmission-owning utilities that do not join an RTO might also be restricted. FERC Chairman Pat Wood, speaking at an agency meeting, said he believed there should be four RTOs nationwide: one each covering the Northeast, Southeast, Midwest, and Western markets. "To me at this point, the four RTOs is a good place to land," Wood said. Each RTO would oversee a region's electric grid to ensure all power suppliers had fair and equal access to transmission lines. In addition to the aggressive timetable for RTO formation, Wood also outlined several priorities that are included in FERC's long-term agenda, including steps to reduce market manipulation and improve the industry's infrastructure.

Analysis: In the transition from the former FERC under the leadership of Curt H?bert to current chairman Pat Wood, it has often been projected that the new commission would become more interventionist and carry a "big stick" to force utilities to comply with federal requirements. Clearly, this new declaration from Chairman Wood, in his first substantial motion since becoming FERC's leader last month, demonstrates just how commanding that stick may become, along with the commission's unwavering commitment to the implementation of its comprehensive RTO plans. Quite unlike his predecessor, who sought to reduce the extent to which FERC would regulate, through his developing agenda Wood reportedly seeks to heighten the commission's role to the level of the Securities and Exchange Commission and the Federal Trade Commission. In other words, Wood wants FERC to create policy for the energy industry and then aggressively implement it, with RTOs being at the top of the list.

The difference of FERC's new approach to RTOs (i.e., comparing Wood to H?bert) cannot be overstated. For the last several years, FERC has been regularly criticized for developing a policy toward RTOs that on paper called for voluntary participation by the nation's transmission-owning utilities. Wood is carving out a vastly different approach that ups the ante for RTO participation and affixes stiff penalties for those utilities that fail to comply. The new motion makes Wood's position very clear: utilities that own transmission assets must agree to turn those assets over to an RTO by Dec. 15 of this year-just over two months from now-or lose their authority to sell wholesale electricity at market rates. In addition, Wood has said that FERC should condition subsequent merger approvals on whether or not a transmission-owning utility has complied with the commission's RTO order. Interestingly, Wood maintains that FERC's evolving position on RTOs still calls for "voluntary" participation among utilities. However, the new chairman clearly states that if utilities don't join RTOs, they won't have access to the benefits of competitive markets.

It is important to note that Wood acknowledges that the actual transfer of utility transmission assets may not occur for several years. The new motion from Wood calls only for utilities' agreements and specific plans to transfer their transmission assets by Dec. 15. This proposal changes an earlier FERC order that preceded Wood in which the commission called for RTOs to actually become operational by Dec. 15, which the commission now apparently realizes is not feasible.

This "big stick" that FERC is now hanging over utilities does offer some benefits as well, as Wood has been quick to reiterate. For instance, FERC has already offered utilities higher regulated rates of return for transmission assets under RTO control. In addition, by turning the transmission assets over to an RTO, utilities will be removed from state regulatory oversight of the assets. Of course, it is important to note that states still control retail rates, which sets up many potential conflicts between federal and state regulatory policies. There is also a separate measure that is coming together in Congress that would eliminate the tax consequences utilities face when transferring their transmission assets to FERC-approved RTOs. Utilities often cite the costs associated with transferring their transmission assets to an RTO when resisting compliance with FERC's order. If this federal legislation is passed, transmission-owning utilities will have one less reason to resist the transfer of their transmission assets over to an independent entity.

It is important to note that Wood's new proposals related to RTO formation are an adjunct to FERC's order from last July that mandated consolidation among existing RTOs, with the stated goal of creating four large national entities (Northeast, Southeast, Midwest and West). The Electric Reliability Council of Texas (ERCOT), which already exists, is outside of FERC's jurisdiction. Four large RTOs is still the vision that FERC has in mind, and as noted Wood agrees that "four is a good place to land." However, the mandate on consolidation appears to be softening, at least in some regions. For instance, in the Western region, presently three separate transmission entities exist (the California ISO in California, RTO West among the Northwestern states and Desert Star among the Southwestern states). In its July order, FERC had clearly stated that it wanted to see these three entities consolidate, a point that has caused a great deal of conflict with the California ISO, which wants to remain independent. Now, Wood appears to be backing away from forcing the consolidation issue in the West and has said that FERC's stance will be "not as aggressive" for integrating the existing RTOs in the West. Further, Wood now says that having a single Western RTO is not imperative at this time.

Consolidation among the existing RTOs in the Northeast appears to be moving forward. In fact, consolidation among the PJM Power Pool, the New York ISO and the New England ISO could take place as soon as the end of next year. This progress comes somewhat as a surprise, considering that the last report out of this region was that the New York ISO and New England ISO resisted the preference that had been shown for PJM's model. In the Midwest, two entities still exist (the Midwest ISO and the Alliance RTO), and Wood has said that FERC is working toward a revised agreement between the two entities that would encourage them to merge. Just recently, six investor- and public-owned power companies in the Midwest applied to FERC to form a new company to merge their electric transmission systems. Translink Transmission Co. would be a for-profit entity. It is not presently known if or how Translink may be required to conjoin with the Midwest ISO and the Alliance RTO.

As noted, Wood has also set out a long-term agenda for FERC, covering other points beyond RTO formation. For instance, another critical issue for the commission will be potential market manipulation that might take place by various participants in deregulated environments. One of the ongoing debates related to the failure of California's deregulated market was whether or not out-of-state generators or state-affiliated entities such as the California ISO and the Department of Water Resources intentionally manipulated the state's market to impact power prices. Wood has indicated that FERC will soon release a formal policy for policing companies authorized to sell power at market rates and utilities that use transmission services bundled into state-regulated retail rates to thwart wholesale power competition. In addition, Wood has said that FERC will establish new policies related to the information that energy companies can share with their affiliates. This is a direct reference to a pending case involving El Paso Corp., in which the company has been accused of sharing market-sensitive information with one of its unregulated affiliates to gain a market edge in the natural-gas market of California.

The other key focus area for Wood is upgrading the electricity infrastructure in the United States, which he says has not even remotely kept pace with the tremendous growth in the economy over the last 15 years. Instead of building new power lines, however, it appears that Wood supports the development of new technologies that would boost capacity on existing lines. Toward that end, FERC and the Department of Energy will hold a forum on innovative but unused energy technologies in January. Also along these lines are plans to develop uniform strategies for hooking up existing and new power plants to the transmission grid.

Moreover, as we head toward the end of 2001, we are fast approaching the four-year anniversary of the start of electric competition in the United States (California, the first state to implement direct access, opened its market in March 1998). Four years later, the industry is still caught in somewhat of a limbo between the old structure of monopoly control and the new structure of full deregulation. Chairman Wood has assumed leadership over FERC at a time when the commission has been heavily criticized for not doing enough to limit the amount of market abuse that has arisen as a result of deregulation. At the same time, the extent to which the commission should provide regulatory oversight in a deregulated marketplace has also come under question, even by the commissioners themselves. Thus, Chairman Wood's challenge will be to push electric competition forward while taking steps to reduce the potential for market manipulation. Clearly, RTOs continue to play an integral role in these objectives and remain a top priority for FERC under the new leadership of Pat Wood.

An archive list of previous IssueAlerts is available at
www.scientech.com <http://secure.scientech.com/issuealert/>

We encourage our readers to contact us with their comments. We look forward to hearing from you. Nancy Spring  <mailto:nspring@scientech.com>

Reach thousands of utility analysts and decision makers every day. Your company can schedule a sponsorship of IssueAlert by contacting Jane Pelz  <mailto:jpelz@scientech.com>. Advertising opportunities are also available on our Website.
SCIENTECH is pleased to provide you with your free, daily IssueAlert. Let us know if we can help you with in-depth analyses or any other SCIENTECH information products. If you would like to refer a colleague to receive our free, daily IssueAlerts, please reply to this e-mail and include their full name and e-mail address or register directly on our site.

If you no longer wish to receive this daily e-mail, and you are currently a registered subscriber to IssueAlert via SCIENTECH's website, please visit <http://secure.scientech.com/account/> to unsubscribe. Otherwise, please send an e-mail to to IssueAlert <mailto:IssueAlert@scientech.com>, with "Delete IA Subscription" in the subject line.
SCIENTECH's IssueAlerts(SM) are compiled based on the independent analysis of SCIENTECH consultants. The opinions expressed in SCIENTECH's IssueAlerts are not intended to predict financial performance of companies discussed, or to be the basis for investment decisions of any kind. SCIENTECH's sole purpose in publishing its IssueAlerts is to offer an independent perspective regarding the key events occurring in the energy industry, based on its long-standing reputation as an expert on energy issues.

Copyright 2001. SCIENTECH, Inc. All rights reserved.

  <http://infostore.consultrci.com/spacerdot.gif?IssueAlert=10/1/2001>


Thanks for the update.
m


Chaundra must have accidently forgot to forward to you.
---------------------- Forwarded by Elizabeth Sager/HOU/ECT on 05/01/2000
11:12 AM ---------------------------
   Chaundra Woods                05/01/2000 10:42 AM

To: Leslie Hansen/HOU/ECT@ECT, Janet H Moore/HOU/ECT@ECT, Janice R
Moore/HOU/ECT@ECT, David Portz/HOU/ECT@ECT, Shari Stack/HOU/ECT@ECT,
Christian Yoder/HOU/ECT@ECT, Rhonda L Denton/HOU/ECT@ECT, Tracy
Ngo/HOU/ECT@ECT, Kim S Theriot/HOU/ECT@ECT, Edward Sacks/Corp/Enron@Enron
cc: Elizabeth Sager/HOU/ECT@ECT, Brenda Whitehead/HOU/ECT@ECT, Becky
Tlucek/HOU/ECT@ECT, Linda J Simmons/HOU/ECT@ECT, Sheri L
Cromwell/HOU/ECT@ECT, Kaye Ellis/HOU/ECT@ECT, Jan M King/HOU/ECT@ECT
Subject: Meetings regarding EEI Master Contract

Elizabeth Sager will be meeting with different groups this week to discuss
the EEI master contract.  All lawyers should plan to attend the May 4
presentation regarding Legal's proposed Addendum to the EEI Contract, and you
are welcome to attend the others.  The Documentation and Credit groups should
plan to attend both the May 2 meeting and, for additional information
specific to Credit/Documentation, the May 3 meeting.  The meeting schedule is
as follows:

MEETING WITH TRADERS

Date:  Tuesday, May 2, 2000
Time:  4:00 p.m.  -  6:00 p.m.
Location: EB46C1

MEETING WITH DOCUMENTATION GROUP AND CREDIT GROUPS

Date:  Wednesday, May 3, 2000
Time:  11:00 a.m. - 12:00 noon
Location: EB38C2

MEETING WITH LEGAL - POWER TRADING GROUP

Date:  Thursday, May 4, 2000
Time:  9:00 a.m. - 11:00 a.m.
Location: EB38C2


(per April Weatherford) - Conf Rm per Lisa Zarsky - 3-4321


we will definately go party.  i went to the game and it sucked.  so your test is this weekend or the following?  sat there is a big party at garden in the heights.

 -----Original Message-----
From: 	"Allen, Jill (US - Houston)" <jilallen@deloitte.com>@ENRON
Sent:	Monday, October 29, 2001 8:17 PM
To:	Lenhart, Matthew
Subject:	RE:

i had to go to a wedding saturday night, so i didn't get much of a halloween.
what did you do?
i only have one more week until the exam....you'll have to come party with me.
-----Original Message-----
From: Matthew.Lenhart@enron.com [mailto:Matthew.Lenhart@enron.com << File: mailto:Matthew.Lenhart@enron.com >> ]
Sent: Monday, October 29, 2001 5:01 PM
To: Jilallen
Subject: RE:
how was the weekend?  did i miss anything on saturday night for halloween?
    -----Original Message-----
   From:   "Allen, Jill (US - Houston)" <jilallen@deloitte.com>@ENRON
   Sent:   Monday, October 22, 2001 11:05 AM
   To:     Lenhart, Matthew
   Subject:  RE:
   i'm not sure where that place is yet, but i'll let you know.
   -----Original Message-----
   From: Matthew.Lenhart@enron.com [mailto:Matthew.Lenhart@enron.com << File: mailto:Matthew.Lenhart@enron.com >>  <<
   File: mailto:Matthew.Lenhart@enron.com << File: mailto:Matthew.Lenhart@enron.com >>  >> ]
   Sent: Monday, October 22, 2001 10:44 AM
   To: Jilallen
   Subject: RE:
   definately.  let me know.
       -----Original Message-----
      From:   "Allen, Jill (US - Houston)" <jilallen@deloitte.com>@ENRON
      Sent:   Monday, October 22, 2001 10:38 AM
      To:     Lenhart, Matthew
      Subject:  RE:
      oh - i forgot you said that you were going to N.O.
      i'm not driving in for the game either.  a lot of people are though.
      let me know what ya'll do for the game.
      some people are going to a happy hour at Baker Street Pub on
   Wednesday -
      if any of you
      are interested.
      -----Original Message-----
      From: Matthew.Lenhart@enron.com [mailto:Matthew.Lenhart@enron.com << File: mailto:Matthew.Lenhart@enron.com >>  <<
   File: mailto:Matthew.Lenhart@enron.com << File: mailto:Matthew.Lenhart@enron.com >>  >>  <<
      File: mailto:Matthew.Lenhart@enron.com << File: mailto:Matthew.Lenhart@enron.com >>  << File:
   mailto:Matthew.Lenhart@enron.com << File: mailto:Matthew.Lenhart@enron.com >>  >>  >> ]
      Sent: Monday, October 22, 2001 9:47 AM
      To: Jilallen
      Subject: RE:
      i was in new orleans for tim blanchard's wedding.  we watched it and
      then
      went out in the french quarter.  i will probably watch the game this
      saturday at woodrows.  i don't think i want to drive in for the game.
          -----Original Message-----
         From:   "Allen, Jill (US - Houston)" <jilallen@deloitte.com>@ENRON
         Sent:   Monday, October 22, 2001 8:32 AM
         To:     Lenhart, Matthew
         Subject:  RE:
         the weekend was pretty good.  one of my friends was in from austin
      and
         some of us went to Cafe Adobe and Sherlock's on Friday night.
         saturday night i had a date - dinner and then to downing street.
         i had to work all day on sunday.
         what did you do?  did you watch the game at woodrow's?
         -----Original Message-----
         From: Matthew.Lenhart@enron.com [mailto:Matthew.Lenhart@enron.com << File: mailto:Matthew.Lenhart@enron.com >>
   << File: mailto:Matthew.Lenhart@enron.com << File: mailto:Matthew.Lenhart@enron.com >>  >>  <<
      File: mailto:Matthew.Lenhart@enron.com << File: mailto:Matthew.Lenhart@enron.com >>  << File:
   mailto:Matthew.Lenhart@enron.com << File: mailto:Matthew.Lenhart@enron.com >>  >>  >>  <<
         File: mailto:Matthew.Lenhart@enron.com << File: mailto:Matthew.Lenhart@enron.com >>  << File:
   mailto:Matthew.Lenhart@enron.com << File: mailto:Matthew.Lenhart@enron.com >>  >>  << File:
      mailto:Matthew.Lenhart@enron.com << File: mailto:Matthew.Lenhart@enron.com >>  << File:
   mailto:Matthew.Lenhart@enron.com << File: mailto:Matthew.Lenhart@enron.com >>  >>  >>  >> ]
         Sent: Monday, October 22, 2001 7:54 AM
         To: Jilallen
         Subject: RE:
         thurs night was ok.  we went to taco milagro.  that place is full
   of
      old
         folks now.  how was the weekend?
         - This message (including any attachments) contains confidential
         information intended for a specific individual and purpose, and is
         protected by law.  - If you are not the intended recipient, you
      should
         delete this message and are hereby notified that any disclosure,
         copying, or distribution of this message, or the taking of any
   action
         based on it, is strictly prohibited.
   **********************************************************************
      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.
   **********************************************************************
      This message (including any attachments) contains confidential
      information intended for a specific individual and purpose, and is
      protected by law.  If you are not the intended recipient, you should
      delete this message.  Any disclosure, copying, or distribution of
   this
      message, or the taking of any action based on it, is strictly
      prohibited.
   This message (including any attachments) contains confidential
   information intended for a specific individual and purpose, and is
   protected by law.  If you are not the intended recipient, you should
   delete this message.  Any disclosure, copying, or distribution of this
   message, or the taking of any action based on it, is strictly
   prohibited.
This message (including any attachments) contains confidential information intended for a specific individual and purpose, and is protected by law.  If you are not the intended recipient, you should delete this message.  Any disclosure, copying, or distribution of this message, or the taking of any action based on it, is strictly prohibited.


Jeff, here are my questions and comments:
Section II. A.  Do you think the 2.6 sentence is clear enough--meaning, they
couldn't take this to mean they have a 10% daily tolerance on their
nomination, just a 10% monthly nomination.

Section II.B.  4.1--As discussed, we need to add the words "LDC or interstate
pipeline" after the word applicable in the third to the last line.

Storage section:
Need to add a 5% tolerance to their monthly storage nomination.
Then, we need to add a mechanism to handle their being off from that first of
the month storage nomination.
The concept should be this:
If they are within 5% of their monthly storage nomination (in the paper pool
or bank in Ed McMichael's proposal) but not at exactly 100% of the
nomination, this volume variance will be rolled to another month and the
proxy schedule amended.  The parties must  mutually agree to the month the
hedges will roll to (protecting us if we have already rolled some hedges for
our own benefit), with the financial impact of these hedge changes being
borne by CES.
If they are outside the 5% monthly nomination, the volume outside the 5% will
be handled as follows:
If storage takes are less than 95% of the Monthly storage nomination, the
volume that falls in this category will be sold to ENA at the lower of (i)
the average of the five lowest current month prices as published in Gas Daily
for the applicable location; or (ii) the following month's Inside FERC or NGI
monthly index, as applicable, minus $.01.  If storage takes are greater than
105% of the Monthly storage nomination, that volume will be purchased by CES
at the greater of (i) the average of the five highest current month prices as
published in Gas Daily for the applicable location; or (ii) the following
month's Inside FERC or NGI monthly index, as applicable, plus $.01, plus any
applicable transportation and storage injection or withdrawal costs.

I have not proposed this exact process to Melissa yet, but I have left her a
message that I want to discuss this.   I'll let you know how that goes, but I
think this is a reasonable concept.  The only question is....will she think
so?

Jenny Helton
01/24/2000 04:12 PM
To: Robin Barbe/HOU/ECT@ECT, Stacy E Dickson/HOU/ECT@ECT, Chris
Germany/HOU/ECT@ECT, Dick Jenkins/HOU/ECT@ECT, Billy
Lemmons/Corp/Enron@ENRON, Ed McMichael/HOU/ECT@ECT, Scott Neal/HOU/ECT@ECT,
Colleen Sullivan/HOU/ECT@ECT
cc:
Subject: Columbia Energy Services Corporation ("CES")

  Per Jeff Hodge.

Here is an initial draft of an Agreement to finalize the retail issues.
Please note that I have not included anything on gas buy back yet.  I would
like to get some confirmation on that issue before drafting.

Otherwise, your thoughts and comments will be appreciated.  I look forward to
hearing from you.


Let me know what you think...I may go do my "long" run on Sunday, if you're
doing one too, maybe we can meet for breakfast...


Stan,
    I have it on good authority that Dynegy is making a run at Bob Hayes. My guess is that Bob will call you or me to discuss his status sometime today.

Dan


Justin

Summary for Taiwan:

? Generally free to trade physical/derivatives oil and metals.

? Certain commodities may be restricted/prohibited.  No import permit
required for :
- aluminium (not alloyed and unwrought);
- nickel (unwrought), nickel powders, flakes, bars and rods;
- tin (not alloyed and unwrought), and tin bars and rods;
- copper ores and concentrates, copper oxides and copper hydroxides; and
- zinc (not alloyed) ores and concentrates, hard sinc spelter.

? Importer,s responsibility to obtain aproval for restricted/prohibited
commodities.

? Local counterparties are permitted to purchase USD50 million each calendar
year beyond which Central Bank approval required on a case by base basis.

? Possible withholding tax impact (up to 20%) on derivatives income.

Summary for Korea:

Financial derivatives require prior approval from the central bank.

Commodity derivatives require prior reporting to the central bank.

Electronic Transactions Basic Law and Standardized Contract Regulation Law
may require amendments to ETA. Await advice on specific amendments.

Await specific advice on metals physical and derivatives trading.

Regards
Matt

Justin Boyd
09/25/2000 07:36 PM
To: Robert Quick/LON/ECT@ECT, Matthias Lee/SIN/ECT@ECT,
jonathan.marsh@linklaters.com
cc:

Subject: Foreign Counsel Update - EnronOnline

I attach the latest summary.  Please would you make all updates (where it
applies to you) by close thisThursday - this is when we need to send it over
to Houston.  If you can, could you try as get as recent an update as possible
from counsel.

Thanks.
Justin


Sorry for the confusion but Drew has to cancel this meeting.


I will be bringing you a letter regarding West Florida Electric Cooperative Association, Inc. vs. Gulf Power Company - Territorial Dispute from Gerald Nemec.  Gerald would like to set up a meeting with both of you to discuss this on Wednesday.  Please call me at 3-9282 or e-mail me (Rae Meadows) and let me know when you will be available to meet with Gerald.  Thank you for your assistance.  Rae Meadows, Administrative Assistant to Gerald Nemec

Rae Meadows
Senior Administrative Assistant
Enron North America
1400 Smith Street
Houston, Texas 77002
713-853-9282
rae.meadows@enron.com


-----Original Message-----
From: 	Dasovich, Jeff
Sent:	Thursday, September 20, 2001 12:52 PM
To:	Shapiro, Richard; Steffes, James D.; Kaufman, Paul; Kean, Steven J.; Tribolet, Michael; Mellencamp, Lisa; Kingerski, Harry; Lawner, Leslie; Scott Govenar (E-mail); 'hgovenar@govadv.com'; 'bhansen@lhom.com'
Subject:	FW: PACIFIC GAS AND ELECTRIC COMPANY AND PG&E CORPORATION FILE PLAN OF REORGANIZATION

FYI.  This is likely to create a considerable stir in California.  Let the games begin...

Best,
Jeff

 -----Original Message-----
From: 	Comnes, Alan
Sent:	Thursday, September 20, 2001 12:46 PM
To:	Alonso, Tom; Alvarez, Ray; Badeer, Robert; Belden, Tim; Calger, Christopher F.; Choi, Paul; Dasovich, Jeff; Driscoll, Michael M.; Fischer, Mark; Foster, Chris H.; Guzman, Mark; Hall, Steve C. (Legal); Heizenrader, Tim; Kaufman, Paul; Mainzer, Elliot; Mallory, Chris; Malowney, John; Mara, Susan; Motley, Matt; Perrino, Dave; Platter, Phillip; Rance, Susan; Richter, Jeff; Rosman, Stewart; Scholtes, Diana; Stokley, Chris; Swain, Steve; Swerzbin, Mike; Symes, Kate; Walton, Steve; Williams III, Bill
Subject:	PACIFIC GAS AND ELECTRIC COMPANY AND PG&E CORPORATION FILE PLAN OF REORGANIZATION

It's out ...

FOR IMMEDIATE RELEASE	September 20, 2001
CONTACT: PG&E News Department (415) 973-5930

PACIFIC GAS AND ELECTRIC COMPANY AND PG&E CORPORATION FILE PLAN OF REORGANIZATION
Plan Pays Claims in Full, Does Not Call for Retail Rate Increases or State Bailout
(San Francisco, CA)- PG&E Corporation (NYSE: PCG) and its utility unit Pacific Gas and Electric Company jointly filed a Plan of Reorganization in U.S. Bankruptcy Court today that enables Pacific Gas and Electric Company to pay all valid creditor claims in full and emerge from Chapter 11 bankruptcy proceedings. The official creditors' committee supports the plan.
"This plan is an achievable solution that will enable Pacific Gas and Electric Company to move out of Chapter 11 as a financially strong business positioned to continue safe, reliable and responsive delivery of gas and electricity to its customers, pay all valid creditor claims in full, and do so without asking for a rate increase or a state bailout," said Robert D. Glynn, Jr., Chairman of Pacific Gas and Electric Company and Chairman, CEO and President of PG&E Corporation.  "And, the plan will enable us to provide long-term growth prospects to shareholders."
The plan reorganizes Pacific Gas and Electric Company and PG&E Corporation into two separate, stand-alone companies no longer affiliated with one another. The reorganized Pacific Gas and Electric Company will continue to own and operate the existing retail electric and natural gas distribution system.  The electric generation, electric transmission, and natural gas transmission operations currently under Pacific Gas and Electric Company will be part of PG&E Corporation. The common shares of the reorganized Pacific Gas and Electric will be distributed to PG&E Corporation shareholders.
The electric generation, electric transmission and gas transmission operations, when reorganized as new businesses under PG&E Corporation, will have the ability to issue debt that will be combined with new financing at Pacific Gas and Electric and used to help pay creditors' claims. The plan also restructures certain existing debt and uses $3.3 billion in cash on hand to satisfy creditor claims.
Under the plan, all valid creditor claims will be paid in full, using a combination of cash and long-term notes.  In total, the plan will provide creditors with about $9.1 billion in cash and $4.1 billion in notes. The vast majority of creditors-those with allowed claims of $100,000 or less-will receive cash payments for the full amount of their allowed claims on the effective date of the plan.  Most secured creditors will also receive 100 percent of their allowed claims in cash.  Finally, unsecured creditors with allowed claims in excess of the $100,000 threshold will be paid 60 percent in cash and 40 percent in notes.
 	Following the restructuring, Pacific Gas and Electric Company and PG&E Corporation will be organized as follows:

?	Pacific Gas and Electric Company will be a separate California corporation focused on providing electric and natural gas distribution service to its customers in Northern and Central California.  It will hold 70 percent of the current utility assets (in terms of book value) and will employ 16,000 people.  Pacific Gas and Electric Company will continue to provide the full range of utility services to one out of every 20 Americans.

?	PG&E Corporation, in addition to its existing National Energy Group business, will have three new businesses that will own and operate the electric generation, electric transmission and gas transmission operations formerly under Pacific Gas and Electric Company.

The new electric generation business will be a California company established to own and operate the hydroelectric and nuclear generation assets and associated lands, and to assume the power contracts with irrigation districts, now held by the utility.  In total, the unit will have approximately 7,100 megawatts of generation.  The facilities will be operated in accordance with all current FERC and Nuclear Regulatory Commission licenses, and in keeping with sound environmental stewardship policies.  The generating business will sell its power back to the reorganized Pacific Gas and Electric Company under a 12-year contract at a stable, market-based rate.
The new electric transmission business will be a California company established to own and operate the transmission system currently operated by the utility.  The system comprises 18,500 circuit miles of electric transmission lines and cables.
The new gas transmission business will be a California company established to own and operate the natural gas transmission assets currently operated by the utility, including 6,300 miles of transmission pipelines and three gas storage facilities.
Following the reorganization, the California Public Utilities Commission will continue to regulate the reorganized Pacific Gas and Electric Company, including retail electric and natural gas rates.  The Federal Energy Regulatory Commission (FERC) will continue to have jurisdiction over the licenses for the hydroelectric assets, and the rates, terms and conditions of service provided by the electric transmission business.  FERC will also assume jurisdiction over rates for the power generated by the Diablo Canyon Nuclear Power Plant, and over the rates, terms and conditions of service for the gas transmission system, which will become an interstate pipeline.
Glynn said, "This plan, without raising retail rates, provides a safe, reliable and long-term electric supply to California customers.  It enables our company to maintain a qualified workforce.  And it enables us to keep our generating assets intact and integrated, rather than selling them piecemeal to pay creditors."
The company expects that roles and responsibilities for the vast majority of its workforce will be unaffected by the plan. The reorganized Pacific Gas and Electric Company and the newly established entities will employ essentially the same people who operate the various assets under the current organization.
"We envision essentially the same experienced, dedicated team continuing to do their jobs with a comparable level of pay and benefits programs," said Glynn.  "We believe these businesses should be operated and maintained by the people who know how to run them best."
In addition to resolving creditors' claims and maintaining stability for customers and employees, the plan also provides long-term benefits to the state.  It provides the state with a path to exit the business of buying power for customers, by identifying conditions under which Pacific Gas and Electric Company would be financially able to re-assume the procurement responsibility that is currently being fulfilled by the state Department of Water Resources.
The Chapter 11 process requires that the plan of reorganization ultimately be confirmed by the Bankruptcy Court before it can be implemented.
Paul Aronzon, legal counsel for the Official Committee of Unsecured Creditors, said "This plan provides a comprehensive and responsible framework to resolve creditors' claims and restore PG&E's creditworthiness.  It has our full support, and we look forward to an expeditious resolution of the Chapter 11 process."
"With this plan filed," said Glynn, "we are now focused on bringing the Chapter 11 process to completion, reaffirming the financial health and creditworthiness of our operations through this reorganization, restoring customers' confidence, and rebuilding value for our shareholders."
- 30 -

At 10:00 AM Pacific Time today, PG&E Corporation and Pacific Gas and Electric Company will discuss the plan of reorganization on a conference call for members of the media.  The dial-in number for the call is 1 (877) 691-0877 or 1 (800) 521-5461.  Passcode 7234.

At 11:30 AM Pacific Time today, PG&E Corporation and Pacific Gas and Electric Company will discuss the plan on a conference call for members of the financial community.  The call will be webcast. To access the webcast, go to www.pgecorp.com.

On Monday, September 24, at 5:30 AM Pacific Time, PG&E Corporation and Pacific Gas and Electric Company will make a presentation to financial analysts on the plan.  The presentation will be webcast.  To access the webcast, go to www.pgecorp.com.

This release contains forward looking statements about the proposed plan of reorganization (Plan) under Chapter 11 of the Bankruptcy Code for Pacific Gas and Electric Company (Utility). These statements are necessarily subject to various risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward looking statements.  Although PG&E Corporation and the Utility are not able to predict all of the factors that may affect whether the Plan will be confirmed, or whether, if confirmed, it will become effective, some of the factors that could affect the outcome materially include: the pace of the Bankruptcy Court proceedings; the extent to which the Plan is amended or modified; legislative and regulatory initiatives regarding deregulation and restructuring of the electric and natural gas industries in the United States, particularly in California; whether the Utility is able to obtain timely regulatory approvals or whether the Utility is able to obtain regulatory approvals at all; risks relating to the issuance of new debt securities by each of the disaggregated entities, including higher interest rates than are assumed in the financial projections which could affect the amount of cash raised to satisfy allowed claims, and the inability to successfully market the debt securities due to, among other reasons, an adverse change in market conditions or in the condition of the disaggregated entities before completion of the offerings; whether the Bankruptcy Court exercises its authority to pre-empt relevant non-bankruptcy law and if so, whether and the extent to which such assertion of jurisdiction is successfully challenged; whether a favorable tax ruling or opinion is obtained regarding the tax-free nature of the internal restructurings and  spin off contemplated by the Plan; and the ability of the Utility to successfully disaggregate its businesses;

Please visit our websites: www.pgecorp.com and www.pge.com


ABX 21 (Keely) which would reinstate an abbreviated version of direct
access, passed out of the Assembly moments ago on a vote of 70-0.  The
bill could be heard in the Senate on Monday, however, the California
Legislature is scheduled to go to Washington, D.C. next week on an NCSL
junket.  The status of this trip is up in the air as of this moment.


HERE IS STAFF'S SECOND SET OF DATA REQUESTS TO AVISTA ENERGY INC.,
BP  ENERGY CO., CORAL POWER, L.L.C., IDACORP ENERGY CORP. LP,
PUGET SOUND ENERGY,  SEMPRA ENERGY TRADING CORP.
 - data request 2 to sellers.wpd
 - STAFF 2ND REQUEST TO SELLERS.rtf


Please refer to agenda below for today's conference call.  A spreadsheet has
been attached detailing
assets that are currently under review, along with persons responsible for
assisting in this review
process.

The Regulatory Risk Assessment Working Group Agenda:

1.     Brief recap of meetings held in Canada and England

     - Review the trends discovered from the first phase of risk assessment,
primarily the lack of a standardized due diligence process for Enron's
businesses

2.     Focus on development of formal due diligence procedures for various
business segments - i.e. Generation, Distribution, possibly transmission and
retail

     - Formation of  teams to tackle each of the segments separately

3.     Wrap up the second phase of regulatory risk assessment

Conference Room EB-4741 has been  reserved for this call.


Nancy, I have just returned to Houston from New York.  I have not seen the
fax you mentioned.  Please call me or e-mail to me the information you need
me to consider.  Thank you.  Jim


Alan,

Thanks.

Vince

Alan Aronowitz
01/12/2000 09:00 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Congratulations

Congratulations on your promotion to MD!

Alan


I have finally put together a binder on the materials from the ISDA seminar I
attended in October; day one was devoted to credit derivatives, and day two
was devoted to collateral/credit support in general.

Enclosed is an index of the materials; please feel free to take a look at the
binder if you wish. -- Bob

Robert E. Bruce
Senior Counsel
Enron North America Corp.
T (713) 345-7780
F (713) 646-3393
robert.bruce@enron.com


Hey freak-o!  How have you been?  I'm just taking a study break (finals,
ick!) and thought I would say hello.  What's new?  Have you moved into
your place yet?  Let me know if I can come and see it--I'll be home (in
college station) a week from Tuesday...am making a pit stop in Tahoe on
my way home...just gotta get thru these pesky exams first!

Greetings from la-la-land,
eleanor :-)

--
Eleanor Fraser
The Anderson School at UCLA, MBA 2002
Home 310.446.7735
Mobile 310.963.4474


Brett, under the assumption that we are not over-paying for the land and that
the site has option value beyond the Petrobras deal, I am ok with the
purchase.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 12/18/2000
11:23 AM ---------------------------

Brett R Wiggs@ENRON
12/18/2000 12:03 PM
To: David W Delainey@ECT
cc:
Subject: Land Purchase

Dave:

Some time ago, I had received approval to purchase the primary block of land
for the Rio project site from Jim.  One year ago, we had acquired the rights
to purchase the land under an option agreement.  This agreement is about to
expire and we are currently closing the transaction to purchase the land.
The total purchase price of the block is $1.7 million.  This closing is to
take place tomorrow.  Given the changes, I thought I should run this by you
to make sure you would be in agreement.  I had hoped that this would be a
moot point with the Petrobras agreement closed.  However, I think we may be a
couple more days on that.  I am very concerned with waiting on the landowner
given that our option agreement will be expiring.  Please let me know if it
is ok to move forward with the land purchase.

Thanks,
Brett


Janet,
 Here is a red line of the changes we discussed.  If you agree, let me know
what you want next with this deal.


We have received the executed EEI Master Power Purchase and Sale Agreement
dated 2/2/2001 from the referenced CP.  Copies will be distributed to Legal
and Credit.


As per my call.
----- Forwarded by Mark Taylor/HOU/ECT on 05/31/2001 09:59 AM -----

	Carlos Alatorre/ENRON@enronXgate
	05/30/2001 08:52 AM

		 To: Mark Taylor/HOU/ECT@ECT
		 cc: Kevin Meredith/ENRON@enronXgate
		 Subject: FW: ENRON ON LINE - PETROLEUM TANKER FREIGHT

Mark,
I hope this is of some use, I have schedule a meeting for Thursday @10:00 to
go over it with Joe King
Thanks,
Carlos

 -----Original Message-----
From:  Lin, Homer
Sent: Wednesday, May 30, 2001 8:39 AM
To: Alatorre, Carlos
Subject: FW: ENRON ON LINE - PETROLEUM TANKER FREIGHT

Hope this is of some use... this is the history of the project before it fell
into my lap.  It describes the $5.10 flat rate calculation for BITR 9.

Homer

---------------------- Forwarded by Homer Lin/HOU/ECT on 05/30/2001 08:36 AM
---------------------------
From: Jennifer Fraser/ENRON@enronXgate on 05/14/2001 10:21 AM
To: Homer Lin/HOU/ECT@ECT
cc:
Subject: FW: ENRON ON LINE - PETROLEUM TANKER FREIGHT

 -----Original Message-----
From:  King, Joe
Sent: Friday, May 11, 2001 5:42 PM
To: Moncrieff, Scott; Shankman, Jeffrey A.; Nowlan Jr., John L.; Fraser,
Jennifer; Maffett, Randal; Mahoney, Chris; Gagliardi, Larry
Subject: ENRON ON LINE - PETROLEUM TANKER FREIGHT

In an effort to get the concept off the ground here in the States,
particularly Houston, to that of equal extent presently being experienced in
London, we need to come up with a marketing/educational assault on the States
market. When attempted in the past, we found the concept was heavily resisted
by die-hard crude traders and vessel owners. The biggest complaint, other
than sheer stupidity on anything futures related, was that no one had any
faith or could agree on a pricing index.  Fortunately, the market is starting
to see some spurts in this direction overseas and can expect the same here
shortly.

Below you will find the most widely accepted index known as The Baltic
International Routes (BITR).

The Baltic International Tanker Routes
Date 11-May-2001
             The Following Indicative
Tanker                Routes Form The
  # Description   Size MT Wordscale Assesment  Change            Basis
  T1 M.E. Gulf to US Gulf  280000     59.25   - 0.25  Ras Tanura to LOOP
  T2 M.E. Gulf to Singapore  260000     62.05   - 0.90  Ras Tanura to
Singapore
  T3 M.E. Gulf to Japan  250000     60.50   - 0.68  Ras Tanura to Chiba
  T4 W. Africa to US Gulf  260000     75.75     0.50  O.S. Bonny to LOOP
  T5 W. Africa to USAC  130000   122.00   - 0.45  O.S. Bonny to Philadelphia
  T6 Cross Mediterranean  130000   133.50   - 1.50  Sidi Kerrir to Lavera
  T7 North Sea to Cont    80000   141.25   - 0.25  Sullom Voe to Willemshaven
  T8 Kuwait-Singapore (Crude    80000   129.50     0.25  Mena al Ahmadi to
Singapore
 and/or DPP Heat 135F)
  T9 Caribs to US Gulf    70000   162.00     1.25  Puerto la Cruz to Corpus
Christi
  T0 ME Gulf to Japan    75000   204.00   - 0.50  Ras Tanura to Yokohama
 (CPP/UNL)-Naptha/
 Condensate
  T11 Caribs - USAC (CPP/UNL)   33000   309.75     1.25  Rotterdam to New York
  T12 Caribs - USAC (CPP/UNL)   30000   323.20   18.75  Aruba to New York

Copyright The Baltic Exchange Limited 2000
Any Use of this information must be by permission of The Baltic Exchange
Limited
The Baltic Exchange would like to thank its panellilsts for their
contributions.
Names of the panellists are available from the Baltic Exchange website
(www.balticexchange.com) and in the manual for the panellists.

When reading the above chart, you will find the various voyages that are
assessed daily by the Baltic Exchange.  This report comes out every day at
11:00 AM New York. While anyone in the biz can become a member of the
exchange, the rates are assessed by a panel consisting of brokers ONLY; a
total of 8 different brokerage firms that more or less look at the tanker
market activity for the day and average what has been reported as done.  The
tanker market, for the most part, is very transparent.

1 in Norway
1 in France
1 in the U.S.
5 in London

As you can see, it is more popular in London.  This relates to the exact same
concept that has been around for years as it pertains to the Dry freight
market.

The market that we wish to begin concentrating on in Houston would be the T9
route -  70,000 MT loads Puerto La Cruz (P.L.C.) and discharges Corpus
Christi - described as caribs to USG.

The flat rate (ws100) published by WorldScale (ws) for the year 2001 actual
voyage P.L.C. to corpus is 5.10 p/mt.  As u can see by the last posting (May
11th) for route T9, the exchange is calling it a ws162 market ....If you did
a deal whereby you called and sold the month of Mays average at ws190 and the
market stayed at the 160's level you would be making 30 points on the 5.10
p/mt flat which = 1.53 p/mt x 70,000 mt cargo = 107,100 USD; vice versa if
you bought at ws 190.

The initial attraction for Houston in this market is the same reason London
trades T7 ( North Sea to Cont).  We have a trading department here that
should have a solid understanding of the short haul crude oil markets as it
pertains to their screen trades and to how it will effect freight.  In
addition, we recently ourselves have had more activity in the short haul
crude market particularly with 2 recent purchases of Columbian stems.

90% of the chartering for this market is done in the States and 75% of the
international owners have commercial representation in the States.

Route T9 has the volatility to swing from ws 155 to ws 315 over a months time
- contributing factors that effect market swings are the same as any market
when broken down.  For example:

Supply/Demand Scenarios - assume there are 25 stems in a month and only 23
boats that can make the different dates, and if only 10 of those boats are
acceptable by the majors (or anyone else that is worried about spill
liability sanctions), combined with a herd mentality that trades on a "last
done" philosophy combined with panic and weather delays particularly in EC
Mexico where 10-day turnaround voyages can increase to 20 days.

70,000 MT of crude is more commonly known in shipping as the 500,000 bbl
market.  Basic API gravity conversion for crude is 7.33 bbls p/mt hence 7.33
x 70,000 mt = 513,000 bbls.

This size vessel dominates the short haul crude market (caribs to usg) (where
the refineries are) because they are the biggest boats you can get into most
of the terminals due to physical restrictions such as draft, LOA, etc...
This not only enables the majors to get their crude right in, but allows the
traders more flexibility to sell the cargos delivered to a wider range of
buyers.  When the big boats (VLCC's) (very large crude carriers) (usually 2
million bbl plus boats) come to the USG from the Persian Gulf, West Africa,
North Sea, etc.. they park off at Anchorage and then are lightered or off
loaded to 70,000 mt boats to then bring the crude in.  (I apologize if this
is remedial for any readers)  In any event, when the USG sees a surge in big
ships coming west to the states, the 70,000 mt boats get sucked up by the
lighterage companies enabling the short haul crude market boats to get tight
which means rates will swing hard.  Currently it is a weak market at the 70 x
ws 160 level.

On average there are approximately 30 physical cargos p/month for the caribs,
or the T9 route.  For the most part the breakdown is as follows :

Mexico (Cayo Arcas, Pajaritos,) Mayan ,Isthmus, Olmeca crude - mainly
dominated by shell who have the processing deal with the Mexicans where they
deliver them cpp from the USG.  Citgo has a few, as does Valero who will
probably have more with recent acquisition of Diamond Shamrock Refining,
Orion, Coastal, Fina, Conoco, Koch, Chevron etc.

Venezuela (Puerto la Cruz, Amuay, Puerto Miranda, la Salina, Bajo grande)
etc. players are PDV, Lyondell, BP, Exxon/Mob, Conoco, Orion, Coastal etc..

Columbia -  same players

(We certainly have the resources here for more exact figures and breakdowns.)

Why would this work here in the States? With the recent surge in volatility,
a lot of the above mentioned physical players have had their ass's handed to
them.  Freight is becoming a more crucial part of crude oil trading.  Some of
the bigger players have already put into place forms of hedges such as
contact of affreightments (C.O.A.'s).  For example, Lyondell has a C.O..A.
with 3 different owners to provide 2 ships per month (that totals 6 moves
p/mo.) for 2 years.  The freight rates are settled off a 1 to 5 point formula
off Mardata (Lloyds register) which they in turn can hedge with Online.

Owners - who for the most part are always going to try to be bullish - if
have an understanding of hedges could have interest for stabilizing cash
flows.  Quite possibly Origination or Marketing could assist in promoting it
to the market - unfortunately, for me to speak to anyone outside of shipping
in another company would hurt me with their freight people who I have to deal
with on physical vessel trading.  In addition, the freight people are not
going to have the authority or descision capabilities to trade on line that
trading Department Heads might have.

In- house freight books as is the case with Scott and myself experienced much
more activity in 2000 then what we have seen thus far in 2001, A combined
result of a smaller time charter fleet this year and declining tanker rates
which makes it difficult to go long freight in the spot market as well as
limited exposure to the spot market as a result of no longer having any
supply contracts here in Houston as when we had 2 jet stems, 2 gas oil stems
and 2 mogas stems p/month with the vens. In addition we had more spot biz
with trinidad and columbia and several supply commitments in West Coast
S.America.  Im confident if the EOL Tanker freight took off  we would once
again be able to experience the same success we have seen each year thus far
in ship trading by increasing our presence in the markets.

The U.S. broker MJLF, particularly Bob Flynn, has been trying to get this off
the ground now for over 5 years and even had an unsuccessful JV with
Citibank.  Reason being, Citibank wasn't calling the market but was
interested in it from a commission standpoint (as was the case with mjlf) but
setting up avenues of hedges for ship building and vessel ownership.  FIynn
presently has a seller for 2 voyages p/month starting in July.  The pricing
would be the first 5 days and last 5 days of each month at ws 190 - he has a
bid of 160 - so there's a lot of middle ground to get this done.  This is
always the case and is why in the States there have only been about 2 deals
concluded overall.
Flynn, whose motivation is commissions, can be viewed as either a competitor
of ours or instrumental in helping us with establishment.  For it would be in
his best interest for there to be high activity, and as he is the only one
presently in the States to have a seller or bid I feel he would be easy to
manipulate and as stated before he is part of the panel.  If this was to take
off to the level that Enron has taken other markets -- whereby futures rates
are nowhere near indicative of physical freight and trades are being done off
of different pricing scenarios i.e.- months average- specific day close's,
first half/2nd half, etc -- if it became so big that sellers weren't just
owners and bids weren't just charterers but more of a global book balancing
tool, who knows what can be done.  The last time we tried to get this going
was last year when we had an analyst named Sameer in the group who was
coordinating the launch with Louise Kitchen; I believe it lost momentum with
legal.  Since London has been able to get it going under the direction of
Scott Moncrieff we should also be able to offer it here.  Scott advises me
that he has the support/infrastructure that enables him to still cover the
physical freight markets as it applies to the product traders as well as the
global freight market and ship arbitrage opportunities that we both follow
now.

I would appreciate any advice or guidance on what would be the best way to
pursue this and get it on the website. I am by no means trying to pass the
buck here and am available to anyone who might need some insight to the
freight markets be it technical or commercial and welcome the idea of a
explaining worldscale and volatility as im sure is the case with Scott in
London.


EES is short 10-17 mws for off peak tomorrow (Tuesday March 6th).
Please be sure to buy to fill this.

Bill


I am pleased to announce that Theresa Branney will be joining Northern's
Business Development & Marketing Group effective Monday, July 31 as an
Account Director.   Theresa will be utilizing her transportation and storage
knowledge in helping us to expand the commercial focus in the Storage group.
To take full advantage of Theresa's expertise, she will also be assisting
with our analytics for both the Pricing & Structuring and Risk Management &
Reporting groups.   Theresa will be reporting to Sue Neville, Director of
Storage.

Theresa has broad energy industry experience beginning with her employment in
1985 with Pacific Enterprises as a geologist.  In 1993, she moved into the
transportation and storage arena with Coastal Gas Marketing and has
subsequently been with ProEnergy, Midcon Gas Services, and Enron North
America.  Theresa received her undergraduate degree from Colorado State
University and her MBA in Marketing and Finance from the University of
Colorado.  We are excited about the opportunity to add someone with Theresa's
skills and knowledge of the Midwest market to our organization!

Please join me in welcoming Theresa to the Marketing division.


GT,  I am planning on driving in Sat.  I will probably leave Houston around 9
am.  Should be in Austin at lunch time.  I can't remember exactly how to get
to your casa.  Can you drop me some directions again.  Thanks.


FYI - YE0702.1 Failed to bridge second leg of straddle (put option) into TAGG.

Leg 1 was duplicated and changed to a put.

Dan Thibaut
Risk Management
(713) 345-3193
EB 3256c


Almost all trades executed under Merrill Lynch have been assigned to
Allegheny.  It is my understanding that Merrill will no longer be trading
financial or physical power.  The deals that Merrill will retain are as
follows
217397
425780
513602
517785
528054

If you have questions, please let me know.


*  click on the link below to hear (or see if you have Windows Media Player)
Jeff Skilling on Squawk Box this morning
* Skilling discusses California, the West in general, and our Q1 earnings

http://www.cnbc.com/cnbctv/video/videohighlights.html


CALENDAR ENTRY:	APPOINTMENT

Description:
	SW1001/First Floor/Enron House - Oslo Doorstep Meeting for Cindy

Date:		5/10/2001
Time:		10:30 AM - 11:30 AM (Central Standard Time)

Chairperson:	Stacey W White

Detailed Description:

Blanca 5-7688

Chair - Louise Beer


---------------------- Forwarded by Benjamin Rogers/HOU/ECT on 03/09/2000
03:01 PM ---------------------------

	From:  Garrett Tripp                           03/09/2000 02:51 PM

To: Benjamin Rogers/HOU/ECT@ECT
cc:
Subject: RPU

The following pricing has been completed for RPU LM6000 deal.

The price for the 6/1/01-9/30/06 term.
$4.01kw-mo Spread Option Value Plus $1.67kw-mo Capacity for  a Total Price of
$5.68

Assumptions:
47 MW year one, 25 MW year two through six at MAPP (curve) ISO
Heat rate 10,200
Max run hours 1400
Summer only deal
VOM $3.02
NG at NNG Ventura with 0.10 summer adder
7x16 product
97% Availability Factor

Yrly Price without capacity


FYI.  Please keep confidential and do not circulate.  This is just the first draft of a letter we're working with the large customers on in response the Angelides tantrum.  Only the large customers will sign, however.  I'll forward the final when they've completed it	.  Sue's working on ARM to do something akin from the suppliers side.

Best,
Jeff

-----Original Message-----
From: Dorothy Rothrock [mailto:drothrock@cmta.net]
Sent: Monday, October 22, 2001 1:35 PM
To: wbooth@booth-law.com; cra@calretailers.com; ek@a-klaw.com;
mikahl@ka-pow.com; djsmith@s-k-w.com; dhunter@s-k-w.com; Derek Naten;
'Dominic DiMare'
Cc: Dasovich, Jeff; Evelyn Elsesser; Loren Kaye
Subject: Reponse to Angelides

Wanna sign onto this letter to Loretta? Any suggestions? We could make it a CEA thing.

(I am copying Jeff D. as a courtesy...I think we need this to be just a customer deal).

Dot
498-3319