---------------------- Forwarded by Steven J Kean/NA/Enron on 09/15/2000
07:32 AM ---------------------------

Peggy Mahoney@EES
09/14/2000 06:09 PM
To: James D Steffes/HOU/EES@EES, Harry Kingerski/HOU/EES@EES, Richard
Shapiro/HOU/EES@EES, Dennis Benevides/HOU/EES@EES, James M Wood/HOU/EES@EES,
Martin Wenzel/SFO/HOU/EES@EES, Tom Riley/Western Region/The Bentley
Company@Exchange, Greg Cordell/HOU/EES@EES, Karen Denne/Corp/Enron@ENRON,
Mark Palmer/Corp/Enron@ENRON, Steven J Kean/NA/Enron@Enron, Chris
Hendrix/HOU/EES@EES, Gary Mirich/HOU/EES@EES, George Waidelich/SFO/EES@EES,
Ronald G Mentan/SFO/EES@EES, Mona L Petrochko/SFO/EES@EES
cc:

Subject: Enron Energy Services: With Dereg Under Fire,Enron Calif Elec
Business Heats Up

FYI - not sure if you guys saw this!  Still looking for a corporate customer
to go on record.
Peggy
---------------------- Forwarded by Peggy Mahoney/HOU/EES on 09/14/2000 06:06
PM ---------------------------

	Enron Energy Services

	From:  Christopher Smith                           09/14/2000 11:54 AM

To: Peggy Mahoney/HOU/EES@EES
cc:
Subject: Enron Energy Services: With Dereg Under Fire,Enron Calif Elec
Business Heats Up

FYI
---------------------- Forwarded by Christopher Smith/HOU/EES on 09/14/2000
11:54 AM ---------------------------

djcustomclips@djinteractive.com on 09/14/2000 12:41:56 PM
Please respond to nobody@mail1.djnr.com
To: 190852@mailman.enron.com
cc:
Subject: Enron Energy Services: With Dereg Under Fire,Enron Calif Elec
Business Heats Up

With Dereg Under Fire,Enron Calif Elec Business Heats Up
By Jason Leopold

09/14/2000
Dow Jones Energy Service
(Copyright (c) 2000, Dow Jones & Company, Inc.)

  LOS ANGELES -(Dow Jones)- While federal regulators try to find a way to
stabilize soaring wholesale electricity prices in California, Enron Corp.
(ENE) has been quietly striking up deals with some suburban communities to
sell them fixed-price power at a lower rate.

  In the past month, the Houston-based electricity service provider entered
into long-term fixed-rate contracts with the city of Roseville and is
negotiating similar deals with the cities of San Marcos and Chula Vista. Both
of those cities currently get their power from San Diego Gas & Electric Co, a
unit of Sempra Energy Inc. (SRE), and pay market rates for electricity.
  Enron has also struck a deal with Starwood Hotels & Resorts Worldwide Inc.
(HOT), one of the world's largest hospitality companies, to sell the company
electricity at a fixed rate for the next 10 years. The company has four hotels
in California, three of which buy their power from SDG&E.

  Sources close to the matter said Enron has contracted to sell the hotel
power at about 6 cents per kilowatt-hour, compared with the 22.5 cents/KWh
Starwood said it was charged by SDG&E in August.

  Neither company would disclose the terms of the deal. But Starwood said it
expects to reduce its energy costs by more than $200 million over the next 10
years.

  Enron, the largest trader of electricity and natural gas in the U.S., will
purchase power to cover such contracts on the wholesale markets and use its
experience to manage the risks, while paying a fee to utilities like SDG&E for
use of their distribution networks.

  "That really is our core strength," said Harold Buchanan, chief operating
officer for Enron Energy Services North America. "We understand how to manage
those risks."

  High Rates Driving Industrial Customers, Cities To Switch

  The growing interest in fixed-price supply contracts is fueling a comeback
of sorts for Enron.

  The Houston-based company had tried to break into California's retail power
market just after deregulation, even spending nearly $1 million to advertise
the venture during the Super Bowl. But Enron gave up trying to win residential
customers in 1998, citing disappointing response and lower-than-expected
profits.

  That was when deregulation and competitive power markets were full of
promise. Oddly enough, now that deregulation is coming under attack in
California, soaring power prices are building demand for Enron's services.

  The company is fielding calls from large industrial customers in San Diego
that have seen their utility bills triple in the past three months and are
interested in signing long-term fixed-rate contracts, Buchanan said.

  "Overall, what Enron can provide is reliability pricing in San Diego that's
written in stone," Buchanan said. "It's far cheaper than what they're paying
now with the utilities."

  A number of large industrial customers negotiating with Enron declined to
comment.

  The city of Roseville, near Sacramento, entered into a $114 million contract
with Enron last month to purchase 50 megawatts of electricity for five years
at $49 per megawatt-hour.

  Furthermore, the city has started talks with Enron about building and
operating a 750-megawatt natural gas-fired power plant that city officials
expect will contribute to lower costs for the purchase of electricity.

  Mayor Harry Crabb said the plant could protect residents from the price
spikes that have plagued customers of SDG&E since June.

  San Marcos, in San Diego County, is proposing to switch electricity service
for its 10,000 residents to Enron from SDG&E - a move the City Council said
could shave about $12 million a year off the city's power bill. Enron has said
it would offer the city terms nearly identical to those it offered Roseville.

  An SDG&E spokesman said last week that the utility supports such
arrangements, saying they're one way deregulation is supposed to work.

  Enron offered earlier this summer to sell power to SDG&E itself for four
years at a fixed rate of 5.5 cents/KWh, but the utility said the price was too
high.

  California Gov. Gray Davis signed legislation two weeks ago to cap
electricity rates for SDG&E's customers at 6.5 cents/KWh.

  -By Jason Leopold, Dow Jones Newswires; 323-658-3874;
jason.leopold@dowjones.com

Folder Name: Enron Energy Services
Relevance Score on Scale of 100: 80

______________________________________________________________________

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

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


Angela:

Unless Mary has addressed already or a different plan is in place, can you
handle?  Sara
----- Forwarded by Sara Shackleton/HOU/ECT on 01/03/2001 12:22 PM -----

	Carol St Clair
	01/03/2001 12:02 PM

		 To: Mary Cook/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: RE: Cerberus

Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com
----- Forwarded by Carol St Clair/HOU/ECT on 01/03/01 12:04 PM -----

	"Bermingham, David" <David.Bermingham@rbcds.com>
	01/03/01 11:42 AM

		 To: "'Sullivan, Danny'" <dannysullivan@akllp.com>,
annmarie.tiller@enron.com, astidd@gssnyc.com, "Barbour, David"
<davidbarbour@akllp.com>, bill.bowes@enron.com, brenda.l.funk@enron.com,
brent.vasconcellos@enron.com, brian.steinbrueck@enron.com,
carol.st.clair@enron.com, clint.freeland@enron.com, clint.walden@enron.com,
damon@rlf.com, "Bermingham, David" <David.Bermingham@rbcds.com>, "McCluskey,
David" <David.McCluskey@royalusa.com>, "Jelich, Emily"
<EMILY.JELICH@ROYALBANK.COM>, gareth.bahlmann@enron.com,
gina.karathanos@enron.com, jlawler@wilmingtontrust.com, "Bruen, John"
<John.Bruen@rbcds.com>, kenton@rlf.com, kevin.d.jordan@enron.com,
lkao@mayerbrown.com, "Lowe, Deborah" <deborahlowe@akllp.com>, "McFarling,
Muriel" <murielmcfarling@akllp.com>, mniebruegge@mayerbrown.com, "Popplewell,
Tom" <tompopplewell@akllp.com>, Robert Eickenroht
<robert.eickenroht@enron.com>, ryan.siurek@enron.com, "Sargent, Pat"
<patsargent@akllp.com>, tamullen@prickett.com, tara.rafter@enron.com,
tellwood@mayerbrown.com
		 cc:
		 Subject: RE: Cerberus

Dear Danny

We have had extensive discussions with Rabo concerning deal mechanics, and
the relevant documentary issues.? Here is a summary of the salient points,
none of which should hopefully be problematic:

1.????? Notwithstanding the structural logic, Rabo are not keen to purchase
Psyche (the feeling is that it would cause all kinds of internal problems,
and might disturb the credit process which to date is running smoothly).? As
such, we should revert to the original idea of payments to Psyche by Heracles
being irrevocably assigned to RBC, who will then assign them to? Rabo as a
part of our deal with them.? We note that as currently drafted, the payments
by Heracles to Psyche would still take place.? It would obviously be
preferable if Heracles could be directed to make payments directly to RBC.?
Alternatively, EAH would need to sign a direction on day one (as Member of
Psyche) that all payments received from Heracles should be paid to RBC.? We
understand that EAH would give a charge over the Member Interest of Psyche in
favour of RBC.

2.????? The Sales Agency Agreement should lapse, as it currently allows.

3.????? In its place, either a version of the old clause 6.07 should be
reinserted into the Aeneas LLC agreement, or a new Sales Agency Agreement
would be struck with Rabo, in either event stipulating a mandatory sale of
the EOG shares (under Rule 144) in the event of either a failed auction, or a
valid auction with Rabo as winning bidder.? There would be no other trigger
events (ie no necessity for Enron to be downgraded).

4.????? Rabo will negotiate directly with ENA/Enron on the EOG market swap,
and ISDA.

5.????? Rabo and RBC will negotiate as between themselves on the TRS and
ISDA.

At present, we are all shooting for execution on Jan 15th.?

Kind regards

David Bermingham

-----Original Message-----
From: Sullivan, Danny [mailto:dannysullivan@akllp.com]
Sent: Thursday, December 14, 2000 6:16 AM
To: annmarie.tiller@enron.com; astidd@gssnyc.com; Barbour, David;
bill.bowes@enron.com; brenda.l.funk@enron.com;
brent.vasconcellos@enron.com; brian.steinbrueck@enron.com;
carol.st.clair@enron.com; clint.freeland@enron.com;
clint.walden@enron.com; damon@rlf.com; david.bermingham@rbcds.com;
david.mccluskey@royalusa.com; emily.jelich@royalbank.com;
gareth.bahlmann@enron.com; gina.karathanos@enron.com;
jlawler@wilmingtontrust.com; john.bruen@rbcds.com; kenton@rlf.com;
kevin.d.jordan@enron.com; lkao@mayerbrown.com; Lowe, Deborah; McFarling,
Muriel; mniebruegge@mayerbrown.com; Popplewell, Tom; Robert Eickenroht;
ryan.siurek@enron.com; Sargent, Pat; Sullivan, Danny;
tamullen@prickett.com; tara.rafter@enron.com; tellwood@mayerbrown.com
Subject: Re: Cerberus

Attached are first drafts of the following documents to be used in
connection with the insertion of an insurance company into the
transaction: (1) Assignment and Waiver Agreement, (2) Swap Confirmation
between the Agent and the Insurance Company (blacklined against the
current Cerberus Swap Confirmation) and (3) Instrument of Assignment
whereby Aeneas will assign the balance of its note to RBC (blacklined
against the Assignment executed on November 30, 2000).
?
With regard to the Swap schedule to be entered into between the Agent
and the Insurance Company, it would be helpful to know whether RBC and
the Insurance Company have entered into any recent Swap transactions so
we can follow the general provisions.
?
I believe that RBC was going to produce a draft Swap confirmation for
the Swap to be entered into between ENA and the Insurance Company, but
please could RBC confirm.? It also would be helpful to see an example of
a Swap schedule which may have been entered into between Enron and the
Insurance Company in a different transaction (if one exists).
?
With regard to the Sales Agency Agreement, it would be our preference
still to have RBC as the party to the Sales Agency Agreement, but
agreeing to act at the direction of the Insurance Company in certain
circumstances.
?
I will be in our Houston office for most of Thursday in Conference Room
42 Main at 713-220-4242, returning to Dallas Thursday evening when I
will be contactable at 214-659-4645.
?
Danny Sullivan


***  Respond to Debra Davidson by April 30 ***

Trading, Origination, Asset Services, and Community Affairs have purchased a
box suite (17 seats) at PGE Park.  This entitles these groups the opportunity
to have a total of 17 people attend each home Beavers and Timbers game.  The
Enron PGE Park Committee (comprised of some employees from the groups above)
is working together to ensure equitable distribution of tickets so that
everyone on the floor will have an opportunity to attend games.

In order to allocate tickets in the most beneficial way to those who are
interested, please respond to the following questions by Monday afternoon,
April 30.  If you would prefer to reply verbally, stop by Debra's desk and
she will write them down.  Debra also has information about the games if you
have questions.

Are you interested in attending any Timbers soccer games?
If yes to Timbers games, about how many games would you like to attend?
If yes to Timbers games, how many tickets would you be interested in getting?

Are you interested in attending any Beavers baseball games?
If yes to Beavers games, about how many games would you like to attend?
If yes to Beavers games, how many tickets would you be interested in getting
for each game?

If you have no interest in attending Beavers or Timbers games, please let
Debra know.

Keep in mind that there must be at least one Enron employee with guests.
Tickets cannot be given away or sold.  Contact Debra if you have any
questions.


For Customers Only:
An End of Year Special Offer from E*TRADE(R)(1)
THREE TRADES FOR THE PRICE OF TWO!

The end of the year may bring a lot of investment opportunities.  To
show our appreciation for your business, E*TRADE wants to help you
take advantage of them.  Just place three stock trade orders that
execute between 6:30 a.m. PST on December 26, 2000, and 1 p.m. PST on
December 29, 2000, and we'll credit your account for the commission
price of the most expensive trade (up to $19.95). That's it!

Warm Wishes,
The E*TRADE Team

P.S.  Remember, this is a limited-time offer.

______________________________________________________________________
(1) Offer not valid for E*TRADE Bank, IRAs, retirement, business,
custodial or club accounts. Excludes non-U.S. residents. Account will
be credited, up to $19.95, within eight weeks. Limit one bonus trading
commission per type of account. E*TRADE associates are not eligible.
E*TRADE does not offer or provide any investment advice or opinion
regarding the nature, potential, value, suitability, or profitability
of any particular security or investment strategy.

System response and account access times may vary due to a variety of
factors, including trading volumes, market conditions, system
performance, and other factors.

Copyright 2000 E*TRADE Securities, Inc. Member NASD/SIPC. All rights
reserved. E*TRADE, the E*TRADE logo, E*TRADE Bank, etrade.com, and
"the #1 place to invest online" are trademarks or registered
trademarks of E*TRADE Group, Inc., or its subsidiaries.

HOW TO UNSUBSCRIBE:
You received this e-mail because you are an E*TRADE customer. If you
do not want to receive partner e-mail offers, or any E*TRADE marketing
e-mail, you can change your preferences now at:
http://e-trade.0mm.com/ETR119001+joe.stepenovitch@enron.com+169322535
You are subscribed at: joe.stepenovitch@enron.com. E*TRADE takes your
privacy seriously. To learn more about E*TRADE's use of personal
information, please read our Privacy Policy at:
http://e-trade.0mm.com/ETR119002+169322535


Does anyone know the following applications for Subscriber membership?  I
would like to submit their applications for the Tuesday, Nov. 13 Board
meeting.
Thanks Mary

1.  Commercial Risk Reinsurance Co. - a wholly owned subsidiary of SCOR, is
a specialist insurer and reinsurer that underwrites a diversified portfolio
of business on a worldwide basis.  Based in Bermuda.

2.  ACA Risk Structures, L.L.C. - see following description provided by the
applicant:

A. Background.

ACA Risk Structures, L.L.C. is a limited liability company organized on May
4, 2001 under the laws of the State of Delaware.  ACA Risk Structures is the
swaps vehicle for the ACA group of companies and, as such, its primary
business purpose is to enter into derivative transactions.  The Applicant
does not intend to make markets in derivatives.

B. Ownership and Related Entities.

The sole owner and member of ACA Risk Structures is ACA Risk Solutions,
L.L.C. ("ACA Risk Solutions").  ACA Risk Solutions is a Delaware limited
liability company created as a vehicle for ownership of ACA Risk Structures
and other subsidiaries.  The sole member of ACA Risk Solutions is American
Capital Access Holdings, Incorporated, a Delaware corporation ("Holdings").
Holdings also owns the Applicant's affiliate ACA Financial Guaranty
Corporation ("ACA Financial Guaranty"), an "A" rated financial guaranty
insurance company that commenced operations in late 1997.  ACA Financial
Guaranty is a Maryland-domiciled monoline insurance company with its
principal office in New York, New York.  ACA Financial Guaranty is licensed
to provide financial guaranty insurance in all 50 states, the District of
Columbia, Guam, the U.S. Virgin Islands and Puerto Rico.  ACA Financial
Guaranty's primary business is the provision of financial guaranty insurance
on financial obligations that are rated from "A-" to "BB" or that are
unrated and have in ACA Financial Guaranty's opinion an equivalent credit
quality.


Brant,  Attached is the executable guaranty with the notice language
included.  Let me know if you need anything else.


---------------------- Forwarded by Ami Chokshi/Corp/Enron on 03/22/2000
03:40 PM ---------------------------

"Steve Holmes" <Steve.Holmes@dvn.com> on 03/22/2000 01:51:48 PM
To: <Ami.Chokshi@enron.com>, <nferrie@enron.com>
cc: <Al.Ledbetter@dvn.com>, <Ashima.Bajaj@dvn.com>, <Bill.Wince@dvn.com>,
<Blaine.Wofford@dvn.com>, <Cathy.Pennington@dvn.com>,
<Cynthia.Cantrell@dvn.com>, <Darryl.Smette@dvn.com>, <Ed.Hone@dvn.com>,
<Gary.Kofoed@dvn.com>, <Jacqueline.Blanchard@dvn.com>, <Jan.Svajian@dvn.com>,
<Kathy.Pearson@dvn.com>, <Ken.Hinshaw@dvn.com>, <Kris.Baxter@dvn.com>,
<Linda.Howard@dvn.com>, <Pam.Rector@dvn.com>, <Steve.Holmes@dvn.com>,
<Testing.GWACCT_MKT@dvn.com>

Subject: April Availabilities

Please see the attached spreadsheet and accompanying letter.  The spreadsheet
outlines volumes available from Devon Energy for the month of April 2000.
Please note the spreadsheet has three tabs.  All three tabs contain volumes
available for sale to Enron.

Please feel free to contact me with any questions you have.

Thanks,

Steve Holmes
Devon Energy Corporation
(405) 552-4665
steve.holmes@dvn.com

 - EnronApril2000noms.doc
 - EnronAvails0400.xls


I have this on my calendar and I will be there.  Thanks. --Sally

	From:  Kay Chapman                           10/17/2000 12:50 PM

To: David Oxley/HOU/ECT@ECT, Sally Beck/HOU/ECT@ECT, Wes Colwell/HOU/ECT@ECT,
Brian Redmond/HOU/ECT@ECT, Fran L Mayes/HOU/ECT@ECT
cc: Kay Chapman/HOU/ECT@ECT, Patti Thompson/HOU/ECT@ECT, Shirley
Tijerina/Corp/Enron@ENRON, Lillian Carroll/HOU/ECT@ECT, Irma
Alvarez/HOU/ECT@ECT
Subject: Tripple Lutz

The following meeting has been arranged:

 Date:  Thursday
   October 19, 2000

 Time:  4:30 pm

 Location: Conf  3321

 Topic:  Tripple Lutz

Thanks,  and if you have any questions or conflicts, please feel free to call
me (Kay 3-0643).

Thanks,

Kay


No Meeting This Week

This is a reminder !!!!!  There will NOT be a Friday Meeting November 10,
2000.

    Date:  November 10, 2000  (cancelled)
      Friday

    Time:   2:30 pm - 4:30 pm

    Location:  30C1

    Topic:   ENA Management Committee

If you have any questions or conflicts, please feel free to call me (3-0643).

Thanks,

Kay 3-0643


Notice No. 01-102
March 23, 2001

TO:
ALL NYMEX DIVISION MEMBERS AND MEMBER FIRMS
ALL NYMEX DIVISION CLEARING FIRMS
ALL NYMEX DIVISION OPERATIONS MANAGERS

FROM:
Neal Wolkoff, Executive Vice President

SUBJECT:
MARGIN RATE CHANGE FOR PROPANE GAS FUTURES CONTRACTS

Effective Date:  Friday, March 23, 2001 (close of business)
Futures Contract: Propane Gas Futures
Contract Months: All Months
Rate Change:

NYMEX Division Margins for Propane Gas Futures Contracts
Clearing Member (Maintenance Margin): Old:  $2,500 New:  $1,500
Member Customer (Initial Margin): Old:  $2,750 New:  $1,650
Non-Member Customer (Initial Margin): Old:  $3,375 New:  $2,025

Should you have any questions regarding these changes, please contact Arthur
McCoy at (212) 299-2928 or Joe Sanguedolce at (212) 299-2855.  This notice
supersedes all previous notices regarding outright margins for the NYMEX
Propane Gas Futures Contracts.

__________________________________________________
Please click on the link below to indicate you have received this
email.

"http://208.206.41.61/email/email_log.cfm?useremail=sara.shackleton@enron.com&
refdoc=(01-102)"

Note: If you click on the above line and nothing happens, please copy
the text between the quotes, open your internet browser,
paste it into the web site address and press Return.


Cougar basketball season has once again begun and Enron has secured through
its partnership with the University of Houston a suite at Hofheinz Pavilion
for the 2000 - 2001 Men's Basketball Season.  The Cougars are an exciting
team to watch this year under new Head Coach Ray McCallum and players like
Alton Ford, Bernard Smith, and George Williams.  This is a great opportunity
for your group/business unit to entertain clients, prospective customers, or
host an employee event.

The season schedule, listed below, has many exciting opponents including
Texas, December 20, Georgetown, December 31, and Memphis, January 6.  The
suite includes fifteen (15) tickets and four (4) VIP Parking passes.  For the
use of the suite, $1,500 per game will be billed back to your Company Number
and Cost Center.  You will also be responsible for all catering expenses if
you choose to take advantage of the menu offered through Salt Grass
Steakhouse.  A menu will be provided to you when you schedule a specific game
date and food orders must be placed with Salt Grass Steakhouse at least ten
(10) days prior to the game date.

Dates will be filled on a first come, first serve basis and can be secured by
contacting Greg Grissom (ext. 58741) or David Tagliarino (ext. 37883)

2000 - 2001 Houston Cougars Men's Basketball Schedule - As of 12/13/00

Date     Opponent   Time

Wednesday, December 20  Texas     Hofheinz Pavilion 7:00 PM
Saturday, December 23  Texas Southern   Hofheinz Pavilion 7:00 PM
Sunday, December 31   Georgetown    Hofheinz Pavilion 2:00 PM
Saturday, January 6   Memphis    Hofheinz Pavilion 7:00 PM
Wednesday, January 10  UAB     Hofheinz Pavilion 7:00 PM
Saturday, January 27   South Florida    Hofheinz Pavilion 12:00 PM
Sunday, February 4   Charlotte (ESPN2)   Hofheinz Pavilion 6:00 PM
Wednesday, February 14  Southern Miss    Hofheinz Pavilion 7:00 PM
Monday, February 19   Saint Louis    Hofheinz Pavilion 7:00 PM
Wednesday, February 28  Marquette    Hofheinz Pavilion 7:00 PM
Saturday, March 3   Tulane     Hofheinz Pavilion 7:00 PM

In addition, please be advised that we also have eight (8) season tickets
that are available for your use - so please
let us know if you need tickets to any games throughout the UH Basketball
season.


Bruce,  Attached is the information for the property settlement.  Sorry, it
took so long.  I am still missing Lisa's vehicle VIN # and Loan information
for that vehicle.  We can fill that in after we review the paperwork you have
drafted.

Gerald's Car

VIN # - 4T1SK12E4PU288881

Loan on Gerald's Car
 Loan #1221609900 with USAA

House Description
 1403 Banks
 Houston, TX 77006

House Loan
 Washington Mutual
 Loan # 7019479976

Stock Options to be transferred to Lisa from Gerald

626 Options at Grant Price of $15.25 per share

268 Options at Grant Price of $22.25 per share

Let me know if you need anything else.  I think we are ready to review the
doc as soons as you get done.  Thanks.


Hello, everyone.
?
This e-mail is to let you know that several documents have  been posted on
the RTO West Website relating to tomorrow's (June 27, 2001) RTO  West RRG
meeting.
?
You can find those materials at:
?
http://www.rtowest.org/Stage2RRG_Upcoming.htm
?
The materials that have been posted are:
?
1.? Copy  of June 22, 2001 E-mail from Bud Krogh with Confirmation of and
Agenda for June  27, 2001 RRG Meeting at Portland Airport Shilo Inn;
?
2.?  Illustrative  RTO West Pricing Model Data Spreadsheets and Accompanying
Narrative;
?
3.?  Preliminary  List of Some Filing Utilities' (BPA, Idaho Power, Montana
Power, Nevada Power,  PacifiCorp, Puget Sound Energy, and Sierra Pacific
Power) Transmission Lines  Expected To Be Included in RTO West;
?
4.?  Revised  Draft of Congestion Model Content Group Working Paper (revised
following input  given at June 1, 2001 RRG meeting; and
?
5.?  Paper  Describing QF Net Metering Issues and Proposed Principles
(following up on issue  raised at June 1, 2001 RRG  meeting.
?
There  will also be hard copies of the posted documents available at the RRG
meeting.
?
Thank  you.
?
-  Sarah  Dennison-Leonard


Marianne,
Monday, 11:00 NY time and 10:00 houston time, works fine for Sara and I.
Regards,
Sheila
 -----Original Message-----
From: 	"Litvak, Marianne" <marianne.litvak@gs.com>@ENRON
Sent:	Thursday, January 03, 2002 2:18 PM
To:	Glover, Sheila
Cc:	Tsavaris, Barri; Sils, Anna; Geffen, David
Subject:	RE: Enron meeting today cancelled; need to reschedule

Sheila,

It seems that tomorrow, Friday, does not work for everyone, but Monday at
11am does.  Does this fit your calendar as well?

thanks,

Marianne


Total January 2002 transportation invoiced for Transwestern(including PGE prepayment) was $12,603,727.  As of 2/11, TW has received $9,783,336 related to January transportation - 78%.

Attached are the customers who did not pay on the 11th.

I will also distribute this report tomorrow morning.  Shippers who have not paid by today should be called tomorrow morning to determine the status of their payment.

thanks
richard


Let me consult my partner and get back with you in the morning.

-----Original Message-----
From: Jernigan, Steven [mailto:SJernig@entergy.com]
Sent: Wednesday, October 03, 2001 11:51 AM
To: Staab, Theresa
Subject: RE: Let's talk trade

Nothing is off the table.  I want a Owens or Moss.

-----Original Message-----
From: Staab, Theresa [mailto:Theresa.Staab@enron.com]
Sent: Wednesday, October 03, 2001 12:40 PM
To: Jernigan, Steven
Subject: RE: Let's talk trade

What's your idea?

-----Original Message-----
From: Jernigan, Steven [mailto:SJernig@entergy.com]
Sent: Wednesday, October 03, 2001 10:57 AM
To: 'tstaab@enron.com'; 'ncortez@enron.com'
Subject: Let's talk trade

I want a good receiver.  You need a RB.

**********************************************************************
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.
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Well if that's your position we're clear.  I had already contacted Columbia
Energy and APPA and they were both interested so I'll continue to contact a
couple others.  I think those two offered a total of $5000.  I may get a few
thousand more, but that may all add up to half.  It depends on how long an
event
and how many speakers we get.

The Dean is still on vacation but hopefully the school will contact you soon.
Rob

> -----Original Message-----
> From: jdasovic@enron.com [SMTP:jdasovic@enron.com]
> Sent: Wednesday, August 16, 2000 4:38 PM
> To: gramlr@pjm.com
> Subject: Re: APPA
>
>
> When's a good time to discuss?  I'd like to get as diverse a group of
> co-sponsors as possible, and as many as possible.
>
>
>
>
> gramlr@pjm.com on 08/16/2000 07:00:30 AM
>
> To:   jeff.dasovich@enron.com
> cc:
> Subject:  APPA
>
>
> Jeff,
> A GSPP alum at APPA is interesting in co-sponsoring the GSPP forum.  Any
> objection?  I won't contact others until we discuss Enron's position on
> co-sponsorship.
> Rob
>
> Rob Gramlich
> PJM Market Monitoring Unit
> (610) 666-4291
> gramlr@pjm.com
>
>
>
>


Got a call from El Paso asking to begin deal on 4/4???? let me know  what you want to do and

	El Paso's contract that will be picking up gas....

	Thanks Lynda


I have been speaking with an ex-associate of yours from Valero and he asked
me to pass on his regards to you, Peter Groetzinger.  So, REGARDS from Peter!


Marcus Nettelton is coordinating comments on the attached.

As we previously discussed, McDermott, Will & Emery was asked to prepare this
draft.

Regards, Alan
----- Forwarded by Alan Aronowitz/HOU/ECT on 11/20/2000 03:47 PM -----

	klarsen@mwe.com
	11/17/2000 10:38 AM

		 To: Alfred.Pennisi@enron.com, Marcus.Nettelton@enron.com,
Alan.Aronowitz@enron.com
		 cc: ppantano@mwe.com, darezina@mwe.com
		 Subject: ETS Risk Assessment Report

******************** PRIVILEGED AND CONFIDENTIAL ********************

Dear Gentlemen:
Attached please find the draft Enron Trading Services Risk Assessment Report
to
be filed with the CFTC.  Included in this report is a cover letter, the
Organizational Chart, and Sections 10 (Capital Requirements) and 15 (Risk
Management) of the ETS Futures Compliance Procedures Manual.  Also attached
for
your convenience, is a blackline version of Sections 10 and 15 to reflect the
changes we have made.

Please note that we have not listed Enron Corp. as a Material Affiliated
Person
of ETS based on our review of the preamble to CFTC Final Rule 1.14, defining a
Material Affiliated Person, and on our conversation on a non-disclosed basis
with the CFTC Auditor .  Should you have any questions or suggestions
regarding
the report, please contact me at the telephone number listed below.  Thank
you.

(See attached file: ETS Risk Report Cover Letter.doc)(See attached file: ETS
Organizational Chart.ppt)(See attached file: ETS Risk Report - Sections 10 &
15.doc)(See attached file: ETS Risk Report Blackline - Sections 10&15.doc)

Best regards,
Kari S. Larsen
McDermott, Will & Emery
600 13th Street, N.W.
Washington, DC 20005
Ph:    (202) 756-8374
Fax:  (202) 756-8087
Email:  klarsen@mwe.com

******************************************************************************
*******

This message is a PRIVILEGED AND CONFIDENTIAL communication.  If you are not
the
intended recipient, please do not read, copy, or use it, and do not disclose
it
to others.  Please notify the sender of the delivery error by replying to this
message, and then delete it from your system.  Thank you.
******************************************************************************
*******

For more information on McDERMOTT, WILL & EMERY please visit our website at:
http://www.mwe.com/

 - ETS Risk Report Cover Letter.doc
 - ETS Organizational Chart.ppt
 - ETS Risk Report - Sections 10 & 15.doc
 - ETS Risk Report Blackline - Sections 10&15.doc


---------------------- Forwarded by Sara Shackleton/HOU/ECT on 05/01/2000
12:21 PM ---------------------------

Sara Shackleton
05/01/2000 11:20 AM
To: abbeysmather@sempra.com
cc:
Subject: San Diego Gas & Electric - financial trading

Abbey:  On March 29, you left me a voice mail in connection with the
foregoing.  Please call me at 713/853-5620 for an update and to answer you
questions.  There is not much left to do.  Thanks.  Sara Shackleton


----- Forwarded by Steven J Kean/NA/Enron on 03/18/2001 08:03 PM -----

	Binky Davidson@EES
	03/15/2001 05:35 PM

		 To: Steven J Kean/NA/Enron@Enron
		 cc:
		 Subject: NewPower Withdrawal Notes

Mark Muller sends the attached for your information and comments.


Jeff, Jane is off to the technical hearing in Washington tommorrow.  Are you
available today to discuss regulatory issues. pls advise and we can set up a
time.

BT

 -----Original Message-----
From:  Dasovich, Jeff
Sent: Monday, July 16, 2001 1:41 PM
To: Tycholiz, Barry; Lawner, Leslie; Miller, Stephen; Cantrell, Rebecca W.
Subject: Utility authority to engage in derivative transactions

Barry, et al:

FYI.  Some initial info I got from our outside council regarding utility
authority to engage in financial risk management tools.  More info to follow
as we get it.  If you have quesitons, comments, or suggestions for additional
research needed, just holler. Please forward to others who might need it.

Best,
Jeff

++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
++

Electric:  SCE, PG&E and SDG&E are all authorized to enter into bilateral
forward transactions with non-ISO or PX parties.  D.00-08-023 and
D.00-09-075.  These transactions are limited to contracts which must expire
on or before 12-31-05.  Initial contracts are subject to a blanket
reasonableness test (if less than 5% above cost of non-forward cost of
portfolio=deemed reasonable)  but contracts after 12-31-02 will be subject
to a CPUC preapproval process.

Gas:   PG&E authorized to use gas hedges for all purposes (D.98-12-082) but
limited to contracts expiring on or beforce 12-31-02 and limited to $200
million in cost or 800 MMcfd in volume.  We are looking for a similar
resolution or decision for Sempra.  Haven't found it yet, but we believe
they have been given similar authority.


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Dave

I think Overdyke is still working on the peaker insurance deal.  He has Per
on the road working on it.  We probable should tell him that we don't have
anymore unless New Albany is enough.


I'm just going to say that a permit app has not been submitted, then.

Mitch

From: Gus Eghneim on 10/24/2000 01:37 PM
To: Mitch Robinson/Corp/Enron
cc:

Subject: Re: FW: Questions/Wheatland

Mitch - Whether or not we qualify to even apply for an NPDES permit is
contingent upon the results of the mercury sampling. If the Mercury
concentration is greater than 12 ppt, we can not apply for a permit. This is
a very low threshold and it is likely that we are not going to meet it. The
sampling was done last week, but the results are not out yet. If the results
show that we can meet the mercury limit, we still need to assess the cost of
building a 3-mile pipeline to the white river. We have not yet given
authorization to do this study. Ross Newlin is taking the lead on this.

If everything goes well, we may be able to submit an application by middle of
December at the earliest.

Gus

	Mitch Robinson
	10/24/2000 01:02 PM

		 To: Gus Eghneim/Corp/Enron@Enron
		 cc:
		 Subject: Re: FW: Questions/Wheatland

Thanks Gus.  Does 4.g.  look right?  If so, do you have an estimated date?
I'm assuming you're working on it, not Dave.

Mitch

From: Gus Eghneim on 10/24/2000 12:54 PM
To: Mitch Robinson/Corp/Enron
cc: Chris Norris/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Don Miller/HOU/ECT@ECT,
Gus Eghneim/Corp/Enron@Enron, Richard Broussard/Corp/Enron@Enron, Stuart
Zisman/HOU/ECT@ECT

Subject: Re: FW: Questions/Wheatland

Protocol for CEMS approval - CEMS must be installed, certified, and quality
assured as per the acid rain requirements contained in the Code of Federal
Regulations (CFR) Part 75. The process involves performing a series of
initial tests, including Relative accuracy test audits (RATAs), linearity
checks, cycle/response time checks, and calibration drifts.  It also involves
significant recordkeeping and reporting requirements.

Gus

	Mitch Robinson
	10/24/2000 09:38 AM

		 To: Chris Norris/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Richard
Broussard/Corp/Enron@Enron
		 cc: Gus Eghneim/Corp/Enron@Enron, Don Miller/HOU/ECT@ECT, Stuart
Zisman/HOU/ECT@ECT
		 Subject: FW: Questions/Wheatland

Please see comments in #4 below.

Mitch
---------------------- Forwarded by Mitch Robinson/Corp/Enron on 10/24/2000
09:31 AM ---------------------------

Don Miller@ECT
10/24/2000 09:21 AM
To: Ben Jacoby/HOU/ECT@ECT, Chris Norris/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Jeffrey Keenan/HOU/ECT@ECT, Mike J Miller/HOU/ECT@ECT, Mitch
Robinson/Corp/Enron@Enron, Stuart Zisman/HOU/ECT@ECT
cc:

Subject: FW: Questions

> 4.  Initial Wheatland Visit Questions:
>
>  a.  Please provide copies of the Westinghouse performance data.
Rick, have we been able to come up with a summary sheet on the performance
tests?

>  b.  Confirm that all warranties are in name of LLC or transferable
> to LLC.
Stuart, this one is probably more in your bag. I would suggest that we state,
all bidders should assume that warranties will be placed in the LLC's name
prior to closing and that all warranties are fully transferable.  (Note that
currently, the warranties are not in the LLC's name, but are in ENA's name).

>  c.  What is the protocol for CEMS approval.
Gus, can you take a stab at this one?

>  d.  Provide water quality test results.
Don, this should now be in the DD room.

>  e.  Provide all outage reports.
Rick/Brent, do we have all of these?  Any problem with providing them?

>  f.   Provide overhaul budgeting.
Don, not yet developed.  Overhaul budgeting will be completed as any
scheduled overhaul reaches the near-term horizon.  Our method of budgeting
for overhauls is to accrue maintenance dollars for every start (approx $1500
per start).  We continually re-evaluate whether we are starts based or hours
based.  Currently, we remain starts based maintenance.

>  g.  Provide copy of application for discharge permit.
Application has not yet been submitted.  We have only entered initial
discussions with the state.  We will submit the application once developed -
- currently expected by xxxxx date (Gus, please verify this is true).

>
>


Attached for your review is the Huber capacity release and re-release
agreement.  Please provide comments.  I will forward the revised Huber
transaction agreements shortly.


sorry for the delay-- I thought tuesday was bad for you so I have wednesday
at 10. if that doesnt work-- anytime tomorrow.
-----Original Message-----
From: Andy.Zipper@enron.com [mailto:Andy.Zipper@enron.com]
Sent: Tuesday, November 28, 2000 10:08 AM
To: mbergonia@edfman.com
Subject: Call

When do you want to have a call to discuss this ? I'd like to do something
sooner rather than later. I thought 10:00 today was scheduled but I could
have it wrong. Give me a call.

Thanks
Andy Zipper
(713) 853 6994


FYI...I will keep you posted.
---------------------- Forwarded by Sally Beck/HOU/ECT on 10/03/2000 08:43 AM
---------------------------

	From:  Mike McConnell                           10/03/2000 08:22 AM

To: Sally Beck/HOU/ECT@ECT
cc: Charlene Jackson/Corp/Enron@ENRON, Celeste Roberts/HOU/ECT@ECT, Richard
Causey/Corp/Enron@ENRON
Subject: Re: Hiring Practices for Summer Interns

Sally,

Thanks for the email and update.  I agree that we must do something quickly
to resolve this.  I believe that you should interview for summer interns as
an extension to your upcoming planned recruiting trip.  I know you were very
happy with the summer interns from the energy management program at OU that
you got last year ( I was surprised and the school was thrilled  that you
offered all 5 permanent positions upon graduation).   We cant lose that
momentum.  I am sure that each school's program is different and that most
don't interview for summer interns this early in the year but from what I
have learned about the OU schedule, we will lose all the top candidates if we
wait.  I am sure that is not what Charlene and Celeste were trying to
accomplish with their guidelines.

Please keep me up informed on this matter.

Thanks and good luck with the students.

mike

	Enron North America Corp.

	From:  Sally Beck                           10/02/2000 07:13 PM

To: Charlene Jackson/Corp/Enron@ENRON, Celeste Roberts/HOU/ECT@ECT
cc: Richard Causey/Corp/Enron@ENRON, Mike McConnell/HOU/ECT@ECT
Subject: Hiring Practices for Summer Interns

While recruiting on campus recently I became aware that a decision was made
at the Program level to not interview this fall for 2001 summer interns.  In
talking with students and faculty at The University of Texas and University
of Oklahoma, it became clear that there is concern over the feasibility of an
internship with Enron, as other top firms will be recruiting this fall for
summer 2001 interns.  I have communicated my concerns to Lexi Elliott and her
manager, Shelley Jones, and was told by both that the decision to delay
interviews for summer interns was made at a Program level based on Enron's
staffing.  When I asked about the competitive data available regarding the
practice of other firms on summer intern interviews, I was even more
concerned to discover that neither Lexi nor Shelley had that data.  It would
seem critical to know what the competition is doing in terms of summer intern
interview schedules in order to understand the risk that could be created for
Enron by not interviewing this fall for these important feeder positions for
our Analyst and Associates programs.

I have had conversations over the last two weeks with Lexi and Shelley, with
no resolution.  When they could not provide the competitive data to either
confirm or eliminate my concerns, I volunteered to have James Scribner, a
Senior Director on my team, obtain this market information.  Lexi and Shelley
either did not have the time to gather this data, or were not sure how to do
so.  They were pleased to have some help in getting our hands on this
critical information.  I now have information at hand with regard to firms
that will be recruiting at UT and OU this fall for summer intern positions.
And based on this information, I believe that Enron is at risk for not hiring
top students as interns for the summer of 2001 if we do not interview for
these positions this fall.

While my research only touches on two of the schools at which Enron recruits,
I want to raise concern over this as a potential problem at many, if not all
campuses that we have targeted for recruiting.    As administrators of the
program, you rely on the involvement of senior members of the company to
carry the Enron message to campus.  I believe that we also have an obligation
to make this a two-way messaging system.  I strongly believe that we must
address this potential risk for Enron extremely quickly, as teams will be on
campuses across the country to conduct interviews in a matter of days.  I
suspect that many Enron participants in the recruiting process are unaware of
the Program's decision regarding the timing of interviews for summer
internships.  In working with Rick Causey and Mike McConnell, executive
sponsors for UT and OU, respectively, they are as concerned as I about the
decision on interviewing summer interns.  I have copied both of them on this
note to the two of you.

Please let me know how this can be resolved.  With the help of James Scribner
and others, we have already compiled a list of students at UT and OU that
should be targeted for summer internships.  I will offer as much of my time
as is feasible to work with staff members of the Program to devise creative
ways to turn this around.


Attached are ClickPaper approvals for November 20, 2000.  Please note that
the credit limits in the spreadsheet reflect one-tenth of the actual credit
limit that we have assigned for a given counterparty since the headroom
within ClickPaper is calculated using Sigma Factor * Volume rather than
Pprice * Volume.  We will assign all future limits by using one-tenth of the
assigned credit limit since using the Sigma factor in these calculations
generates a value of roughly one-tenth of the full limit.  Hopefully this
will eliminate some of the recent problems we've had with counterparties
busting their credit limits.  Please call or send a note if you have any
questions.  Thanks.

Walter


Barry,
The phone system seems to be down, so I'm e-mailing you to let you know that I've gone home for the day.   I will bring the pillow back tomorrow and get with you then.

Thanks,
Theresa


Start Date: 4/27/01; HourAhead hour: 16;  HourAhead schedule download failed.
Manual intervention required.


What if there is no specific job.  I spoke to Mary Solmonson in Global
Contracts and she said they had several job offerings and to send the resume
to her and she would take a look at it and forward it to the relevant groups?


I'll verify with Susan ASAP
----- Forwarded by Sara Shackleton/HOU/ECT on 12/15/2000 08:39 AM -----

	Susan Musch@ENRON_DEVELOPMENT
	12/14/2000 08:18 PM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: Re: FX Product

Sara,

Given my discussion with Sheila Glover and Darren Delage last night, I think
this is the structure we're going to use.  We just need to set up the service
agreement.

Best regards,
Susan

From: Sara Shackleton@ECT on 12/14/2000 04:40 PM
To: Susan Musch/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:

Subject: Re: FX Product

Susan:

Thanks for the update.  Gary Hickerson wants this product available on EOL
now (which explains why I am called daily by the trading desk).  Do you know
when a decision on the Japanese FX principal will be forthcoming?

Sara

	Susan Musch@ENRON_DEVELOPMENT
	12/14/2000 03:56 PM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc: Janine Juggins/LON/ECT@ECT, Melba Lozano/HOU/ECT@ECT, William
Stuart/HOU/ECT@ECT, Steve Jacobellis/NA/Enron@Enron@ECT, Jeff
Blumenthal/HOU/ECT@ECT, Rhett Jackson/HOU/ECT@ECT
		 Subject: Re: FX Product

Sara,

Attached are two e-mails that I sent yesterday and today on the Japanese FX
trader.  In short, we are pursuing the dependent agency approach.  The
specifics are set forth in the e-mails.

Please let me know if you have any questions or need any additional
information.

Best regards,
Susan

Susan Musch
12/14/2000 09:46 AM
To: Heidi Mason/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Jan-Erland Bekeng/AP/Enron@Enron, Sheila Glover@ECT, Darren Delage@Enron,
Scott Gilchrist/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Janine Juggins@ECT, Rod
Sayers@ECT (bcc: Susan Musch/ENRON_DEVELOPMENT)

Subject: FX Trader in Tokyo

Heidi,

In response to your attached e-mail, I am attaching the e-mail message that I
sent out yesterday regarding the structure for the FX trader in Tokyo and the
EM-Japan traders.  (You were already copied on this but I want to make sure
that you got it.)

In this e-mail, I explain that PWC-Tokyo has recommended following a
dependent agent approach for these traders (which is what you reference in
your attached e-mail).  I recommend this approach saying that it is a
pragmatic approach and should be easily implemented.  I talked with Sheila
Glover and Darren Delage about this approach yesterday evening and they like
it as well.  (In fact, they were also copied on the e-mail regarding the FX
trader and the EM-Japan traders.)

The following points should be kept in mind in following the dependent agent
approach, which I have already discussed with Sheila and Darren:

(1) Agency approach:  Enron Japan would be considered to be an agent of ENA.
In this role, it would facilitate trades that would be entered into between
ENA and the third party counterparties.  The trades would be entered into in
the name of ENA.  Under this approach, Darren is limited in what he is
authorized to do, and his trading parameters will need to be reduced to
writing.  These parameters must restrict his activities so that they
constitute activities that have a preparatory or auxiliary character.  The
advice that we received for the FX trader's activities in Australia should
equally apply to our facts here.  The following is an excerpt from a memo
that I wrote last year summarizing this advice:

Guidelines and boundaries must be established on what the financial trader
can do (e.g. price parameters, product parameters, etc.). Activities cannot
include the negotiation of terms of master contracts, forwards and other
derivatives with counterparties. If a master contract must be executed in
Australia, then it should be executed by an independent agent (such as a
lawyer) having a power of attorney from the hedging party. Confirmations
should be issued by the hedging party, rather than by EA Finance in Sydney.
The Australian tax advisor recommended that the financial trader say:  &My
principal will deal with you within these parameters (.8

(2) Darren's employment:  Darren must be considered an employee of Enron
Japan so as to avoid ENA being treated as having a permanent establishment in
Japan.
(3) Darren's agency role:  Darren should not identify himself as an employee
of ENA Houston.  He should make it clear that the third parties are entering
into the transactions with ENA as principal.
(4) Service agreement:  A service agreement must be put in place between
Enron Japan and ENA (similar to what we did for the FX trader in Sydney).
Enron Japan should at least initially  be compensated at a cost plus 5%
mark-up.  Yesterday evening I also forwarded to Sheila and Darren by e-mail
the old service agreement that we put in place for the FX trader in Sydney so
that they could review what terms have been previously used.  (Incidentally,
the service agreement we put in place between Enron Australia and ENA was
very similar (almost identical) to the one that was put in place between
Enron Europe and ENA for the FX trader in London.)
(5) Potential issues upon Japanese tax audit:  Notwithstanding that this
approach is easier to implement, more workable and more pragmatic in
approach, we need to be aware that there could be questions upon a Japanese
tax audit.  In that event, transfer pricing issues could be raised.  That is,
the auditors could question whether a cost plus 5% mark-up is commensurate
with what an unrelated third party would charge for similar services.  We
would then need to justify that service fee, or if unsuccessful, try to work
out a commission fee that would be acceptable to the Japanese tax auditors.
Management needs to be aware of this potential.

I guess I wasn't clear in my attached e-mail.  I am sorry for any
inconvenience this may have caused you.  I hope this e-mail better explains
the recommended structure.  Please let me know if you would like to set up a
conference call to discuss this further (and let me know who you would like
on the call).

Best regards,
Susan

Susan Musch
12/13/2000 06:07 PM
To: Jan-Erland Bekeng/AP/Enron@ENRON
cc: Jane McBride@Enron, Tina Ward@ECT, Paul Simons@ECT, Alan Aronowitz@ECT,
Rod Sayers@ECT, Janine Juggins@ECT, Heidi
Mason/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Joseph P Hirl/AP/ENRON@ENRON,
Sheila Glover@ECT, Darren Delage@Enron (bcc: Susan Musch/ENRON_DEVELOPMENT)

Subject: Enron Metals & FX Traders in Japan

Jan-Erland,

I have not yet received the 2001 projections/budget for the Enron Metals
trading in Japan.  If you have already sent it, could you please re-send it?

Also, I talked with PWC-Tokyo late last night about structuring for the FX
trader and Japanese Metals traders to confirm Baker & McKenzie's advice on
not using a dependent agent structure in Japan.  PWC has advised that
although Baker & McKenzie's approach is more technically correct, foreign
traders usually set up their Japanese trading operations through the use of a
dependent agent in Japan.  The Japanese dependent agent is usually reimbursed
using cost plus 5%, at least initially.  Then, if the Japanese tax
authorities raise questions upon audit, a commission arrangement is generally
used, with the question being what should the profit split be between the
agent and the foreign company.  Whether the Japanese tax authorities raise
questions upon audit is dependent upon the volume of trades and the magnitude
of the trades.  The PWC Japanese tax partner suggested that we use this
arrangement for both the FX trader and the EM Japan trades.  I have asked PWC
to send this advice in writing by tomorrow.

This seems to be a much more pragmatic approach than the one suggested by
Baker & McKenzie.  And it should be easy to implement by year-end.  However,
management must be aware of the fact that PWC's approach could raise
questions upon a Japanese tax audit.  Note that if we follow this approach,
we would need to set up a services agreement between Enron Japan (whichever
the appropriate entity is) and ENA.

Please let me know if you have any questions or need any additional
information.

Best regards,
Susan

HEIDI MASON
12/13/2000 08:38 PM
To: Susan Musch/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Jan-Erland Bekeng/AP/Enron@Enron

Subject: Re: Japanese Financial Subsidiary

Thanks for the note Susan. Like you, I would love to get the funding resolved
before year-end as we have finalised the amounting owing to Houston etc
(subject to some invoices etc being received) so it would be a good time to
get this done.

Re the FX trader, I have been harassing Sheila a bit this week, so I was
hoping to hear from you or her on the progress here. At this stage I
understand that the deals are still being done in the name of ENA, but there
have not been alot, so again if we can get this addressed before the volume
grows it would be best for all. I was reviewing this matter with JEB
yesterday and he indicated that his preference is for an agency style
agreement which avoids the need for the back to back deals.

With thanks

Heidi Mason
Chief Financial Officer
Enron Australia

From: Sara Shackleton@ECT on 12/14/2000 01:22 PM
To: Janine Juggins/LON/ECT@ECT, Susan
Musch/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Melba Lozano/HOU/ECT@ECT, William Stuart/HOU/ECT@ECT, Steve
Jacobellis/NA/Enron@Enron, Jeff Blumenthal/HOU/ECT@ECT, Rhett
Jackson/HOU/ECT@ECT

Subject: Re: FX Product

Janine:

Thanks for the update.  Any word on the Japanese FX desk principal?  Sara
----- Forwarded by Sara Shackleton/HOU/ECT on 12/14/2000 01:23 PM -----

	Janine Juggins
	12/13/2000 04:04 PM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc: Jeff Blumenthal/HOU/ECT@ECT, Rhett Jackson/HOU/ECT@ECT, Melba
Lozano/HOU/ECT@ECT, Susan Musch/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
		 Subject: Re: FX Product

Your summary is correct based on information to date (in this regard the
agreement between ENA and EEFT still requires amendment in respect of RMT and
I undertake to get this done).

However, please note that there have been some last minute changes in the
Japanese tax advice, received I understand only as of last night. Susan Musch
will be following up on these changes at a meeting today with Sheila Glover
and Darren Delage, and has undertaken to keep you appraised of the position.
The effect of the change would be to permit RMT to be the principal for the
Japanese FX desk, with a Japanese entity acting as agent to arrange the
transactions.

Best regards
Janine

From: Sara Shackleton on 13/12/2000 13:52 CST
To: Janine Juggins/LON/ECT@ECT
cc: Jeff Blumenthal/HOU/ECT@ECT, Rhett Jackson/HOU/ECT@ECT, Melba
Lozano/HOU/ECT@ECT

Subject: FX Product

Janine:

With respect to the attached (internal) FX product for EOL, I just wanted to
verify with you that internal counterparties should transact on EOL with:

(1)  RMT  (as principal for Houston FX desk)

(2)  EEFT as agent for RMT (as principal for London FX desk).  In this
regard, was the services agreement between ENA and EEFT ever extended to
include RMT for internal trades?

(3)  Enron Japan Corp. (as principal for Tokyo FX desk)

There appears to be some confusion since our meeting of November 3.  Thanks.
Sara
----- Forwarded by Sara Shackleton/HOU/ECT on 12/13/2000 11:22 AM -----

	Melba Lozano
	12/11/2000 05:59 PM

		 To: Sara Shackleton/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT
		 cc: Robert B Cass/HOU/ECT@ECT, Steve Jacobellis/NA/Enron@Enron, Kevin
Meredith/Corp/Enron@ENRON, Steve Jacobellis/NA/Enron@Enron
		 Subject: FX Product

Sara / Mark,

I need an approval as soon as possible from you for the FX Description
attached.  Steve Jacobellis is requesting that this gets out on the web as
soon as possible.

Thank you,

Melba
58986
---------------------- Forwarded by Melba Lozano/HOU/ECT on 12/11/2000 05:53
PM ---------------------------

From:  Melba Lozano
  11/30/2000 06:41 PM

To: Sara Shackleton/HOU/ECT@ECT, William Stuart/HOU/ECT@ECT
cc: Robert B Cass/HOU/ECT@ECT
Subject: FX Product

Sara:  Please approve on the attached language for the FX Product.

William:  There is a gap between hour ending 3:00 and 4:00 .  Do you want to
go ahead and set up Central time to trade until Hour Ending 4:00?  Please let
me know.

Thank you,

Melba


put on calendar
---------------------- Forwarded by Jeffrey A Shankman/HOU/ECT on 12/04/2000
08:21 AM ---------------------------

membership <mgalicki@menil.org> on 12/02/2000 12:06:19 PM
Please respond to mgalicki@menil.org
To:
cc: Marta Galicki <mgalicki@menil.org>
Subject: Urgent Messages!

Hello Menil Contemporaries--
We will be sending out renewals and details of this year's exciting program
in the next week or so.? In the meanwhile, please save Thursday, January 4,
2001 when Paul Winkler will give a gallery talk to the Menil Contemporaries
on the remarkable exhibition he co-organized and co-curated, "Cy Twombly: The
Sculpture". In addition, we have a special, unexpected opportunity this
coming Friday, 8 December 2000!

Menil Contemporaries Holiday Party

Hosted by Jeanne and Mickey Klein

Holiday Cocktails and Dinner

526 West Friar Tuck

Friday, December 8, 2000

7.00 pm

welcoming

renowned artist
?

?Jeff Koons
?
?

RSVP: by return email or 713-525-9435

?
?


Hey Cara

BPA called me yesterday inquiring about tag 26486. They did not think the PSE was right from BIGEDDY/NOB. It says BPA, they claim it is ENRON. They told me to notify my pre-scheduleder on Monday so this could be straightened out.

Geir


Sally,
FYI, attached is a memo from Valtech who helped us building EOL.  The
architect worked on EOL project is available and he is one of the most
technical and expensive person ($2,000/day which is approximately half of
Diamond group's cost)  who we can use during the start up phase. Thank you.
       Best wishes,
       Inja

---------------------- Forwarded by Inja Chun/HOU/ECT on 10/04/2000 01:25 PM
---------------------------

	Enron Technology

	From:  Inja Chun                           09/25/2000 05:43 PM

To: Thomas D Gros/NA/Enron@Enron
cc:
Subject: Commodity Logic Project

FYI
---------------------- Forwarded by Inja Chun/HOU/ECT on 09/25/2000 05:43 PM
---------------------------

Martin Santora <martin.santora@valtech.com> on 09/25/2000 05:29:39 PM
To: "'inja.chun@enron.com'" <inja.chun@enron.com>
cc: "'dan.bruce@enron.com'" <dan.bruce@enron.com>,
"'philippe.a.bibi@enron.com'" <philippe.a.bibi@enron.com>
Subject: Commodity Logic Project

Inja,

Per the conference call today I am confident that we can add value to the
Commodity Logic Project. I base this on the success of Enron Online and
Valtech's role of supporting that effort. Currently, We have the Architect
(David Jayakaran) that designed the presentation framework for EOL available
as part of the team. I mention this because of the obvious synergy between
the EOL framework and Commodity Logic. As discussed David will meet with you
on Wednesday. The action items I owe you are the Enron negotiated rate
structure and profiles for consultants that could start immediately. The
daily rates are senior consultants at $2,000 and consultants at $1,750.  The
profiles are attached for your review. Please contact me if you have any
questions.

Regards,

Martin

Martin Santora
Vice President
Business Development
North America
Valtech Technologies
5080 Spectrum Drive
Suite 1010
West Tower
Dallas, Texas 75001
972-789-6500

 <<David Jayakaran Profile.doc>>  <<Steve Kos Profile.doc>>  <<greg miller
profile.doc>>  <<Sarath Kolla profile.doc>>

 - David Jayakaran Profile.doc
 - Steve Kos Profile.doc
 - greg miller profile.doc
 - Sarath Kolla profile.doc


jennd@pdq.net has sent you an Egreetings.com(r) flash animation!

To view your card, simply click the following Web address
any time over the next three weeks:

http://www.egreetings.com/v/fhH7cXq59g

Need some help?  See below!
*********************************

Perhaps your E-mail program doesn't recognize the Web address as an active
link.  No problem!  You can copy and paste the Web address into your Web
browser.

Here are instructions on how to copy and paste:
a. With your mouse, highlight the *entire* Web address above
b. Select the EDIT menu and choose COPY
c. Go to your Web browser and *click inside* the window where
you normally type a Web address to visit
d. Select the EDIT menu and choose PASTE
e. Now hit ENTER on your keyboard to take you to the Web address

It's that easy! :-)

If you would like further assistance, we're happy to help - please send
E-mail to solutions@egreetings.com

----------------
E-greetings is a registered trademark and Egreetings is a trademark of
Egreetings Network, Inc.


This was sent to me by one of the developers.  I believe it relates to an
expansion (or new interconnection) of the Caledonia facility.  I don't know
which lawyer has been working on it, so I'm sending it around to see if
anyone claims it. Chris thought that someone from Power Trading may have been
working on it.

Kay

---------------------- Forwarded by Kay Mann/Corp/Enron on 10/10/2000 02:16
PM ---------------------------

	From:  Chris Booth                           10/10/2000 12:48 PM

To: Kay Mann/Corp/Enron@Enron
cc: Kathleen Carnahan/NA/Enron@Enron

Subject: Option Agreement and Easement

Kay,

This is the format for the land options that Robert Shaw of New Century is
using in Caledonia, MS.  Please advise if these documents are appropriate.

Thanks,

Chris
---------------------- Forwarded by Chris Booth/NA/Enron on 10/10/2000 12:42
PM ---------------------------

Mona Harvey <harveym@ncess.com> on 10/10/2000 11:20:08 AM
Please respond to "harveym@ncess.com" <harveym@ncess.com>
To: "Chris Booth (E-mail)" <Chris.Booth@Enron.com>
cc:

Subject: Option Agreement and Easement

Chris,
 Robert Shaw asked me to send these documents to you.

Please call either of us at 713-757-9771 if you need additional information.

Sincerely,
Mona Harvey

 - Easement - Caledonia Project (3-9-00).doc
 - Option to Purchase ROW-Caledonia Project (3-9-00).doc


FYI - I will talk to you separately. See other e-mail

Jose
---------------------- Forwarded by Jose Bestard/ENRON_DEVELOPMENT on
05/31/2001 08:39 PM ---------------------------

Jose Bestard
05/31/2001 08:38 PM
To: Luiz Maurer/SA/Enron@ENRON
cc: Orlando Gonzalez/SA/Enron@Enron, Joe Kishkill/SA/Enron@Enron

Subject: Re: Renunciando a ABRACEEL

Luiz. After consideration of currents events we believe this in an opportune
moment for you to resign as President of Abraceel and turn over the reigns to
your successor.

Two reasons.  First,  the President's position in Abraceel is one that you
could not fill from Houston and given your imminent departure you need time
to advise your Board and plan for an orderly transition; secondly, as
President of Abraceel, you are called by the press to make public statements
to defend the position of power marketers in general. This is why we wanted
you in that role in the first place, but due to the current circumstances
that has become a temporary liability.

When you speak to the Press, you are mostly identified by the informed sector
leaders as Enron, no matter how thoroughly you try to clarify that  you are
speaking as President of Abraceel. In the meantime,  Orlando is in the middle
of intensive negotiations with the government members and some of your recent
comments have been untimely, in that it makes it appear, in public, that the
Crisis Management Group issue leader, in insensitive to the power marketers
(read Enron) position, thus undercutting his leverage. That also puts you in
an awkward position, because as President of the organization you are not
serving the membership by not engaging in the public debate.

But this does not mean that you are not still fully engaged in the battle!.
Your prediction that the "policy makers" are taking decisions that will hurt
the market may come true, and if so, we Enron, will come out fighting.

In the mean time,  we will be needing your background and knowledge to move
our viewpoints through the open doors that have been presented to us in the
negotiations.

Rick Shapiro has committed your assistance to the region as long as it is
needed. Joe and Orlando would have wished that the clock could be stopped and
you physical departure be postponed. But they are well aware that it is not
fair to you and your family to postpone the move. We will work something out
so that you can provide assistance from the USA.

Thank you for your perseverance on this long fight.

Jose

Luiz Maurer@ENRON
05/31/2001 09:26 AM
To: Jose Bestard/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Orlando Gonzalez/SA/Enron@Enron, Joe Kishkill/SA/Enron@Enron

Subject: Renunciando a ABRACEEL

Bestard

Obrigado por me ajudar neste assunto.

Gostaria que a orienta??o de resignar a Abraceel fosse formalizada por
escrito, caso isto n?o gere inconvenincias.??LM????


I have several queries re the Avister charges for London, primarily because
the spreadsheet is based on a total of 24 London users.  We have a total of
14 Avistar users installed in London.

I believe the following London departments may have been charged for the
incorrect number of users:

Fin,l Trading  - $74,418.83  based on 4 units but have 5 users
Rate & Currency     (John Greene not listed?)
342-100467

Softs MG  - $42,857.23  based on 4 units but have only 1 user
1105-120415      (Nigel Majury)

Credit Derivitives - $16,168.42  based on 2 units but none installed
0342-102843      (3 users on Via Video pilot)

Liquids   - $56,589.46  based on 7 units but only 6 installed
872C-104546      (Niamh Clarke no longer based in London)

Shankman London - $16,168.42  based on 2 units but none installed
0342-103058      (Brad Hitch/Merrill Thomas no longer in dept.)

EEL-Exec  - $8,084.21  based on 1 unit for John Sherriff who is
0342-100309      on Via Video pilot - Avistar not installed

Legal London  - $8,084.21  based on 1 unit for Michael Brown- Avistar
0342-100348      not installed

London IT  - $16,168.42  based on two units but only one required
0342-100348      to administer system

The above figures are based on an original average $10,276 per seat.
However, a base change from 24 to 14 seats would increase the per seat charge
to $17,616.

We also ought to look at charging out the ISDN calls charges for the Avistar
system (in the region of $187,000 for 4 months).

Regards,
Wilma
x 37275
Mobile +44 7771 887413

---------------------- Forwarded by Sheila Glover/HOU/ECT on 02/13/2001 02:07
PM ---------------------------

	From:  Sheila Glover                           02/13/2001 02:08 PM

To: Mike McConnell/HOU/ECT@ECT, Jeffrey A Shankman/HOU/ECT@ECT, Gary
Hickerson/HOU/ECT@ECT, Per Sekse/NY/ECT@ECT, John L Nowlan/HOU/ECT@ECT, Jeff
Kinneman/HOU/ECT@ECT, Vince J Kaminski/HOU/ECT@ECT, Mark Tawney/HOU/ECT, John
Sherriff/LON/ECT@ECT, Michael R Brown/LON/ECT@ECT, Nigel Majury/LON/ECT@ECT,
Markus Fiala/LON/ECT@ECT, Joseph P Hirl/AP/ENRON@ENRON, Morten E
Pettersen/AP/Enron@Enron, Paul Quilkey/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Paige Cox/Corp/Enron, Michael S Galvan/HOU/ECT@ECT, Wilma
Low/LON/ECT@ECT, Hasan Imam/Corp/Enron, Brad Lawson/NA/Enron
Subject: Avistar Users and allocated charges

Avistar has been installed globally to provide desktop conferencing.
Hardware and installation charges have been allocated by invoice to the
relevant location.  The schedule below lists by Business unit and RC the
number of units and charges allocated.  IT will assume the monthly charge-out
process.

The allocated dollars will be depreciated over a three year period to your
respective Cost Center beginning February 2001.

If you have any questions please feel free to call or e-mail, Sheila Glover,
3-3210, or Paige Cox, 3-5428.
Thanks. Sheila


Jay:

As we discussed, we are comfortable with EES' participation in the ISO's load
curtailment RFP.  If you have any other questions, just give me a call at
415.782.7822.

Best,
Jeff


Jim --

Will focus on the funding source as one of the issues in the drafts.  I assume we would want FERC to have to approve their budget, correct?  When you say "not industry funding" -- where else would it come from?  I assume we don't want to allow the "piper to call the tune" so to speak based on who pays the bill?  My recollection is that in the NERC version of the bill they "walled off" the funding in a manner we would find objectionable, but let me double check that fact.


Mark:
I'm looking forward to seeing you on the 21st and getting somewhat caught
up.  I thought that it might be helpful to you to let you know what I have
been thinking about in terms of work, although I would ask that you keep this
confidential until we have had a chance to talk further and make some
decisions.

First, if I do return to work, it will not be until sometime in January and
you and I can talk about a date that makes sense.  I think that this is
consistent with what we had talked about before I left.

Second, I would like for you to give some thought to the idea of me working
part-time for a period of time.  Bill and I have talked about this alot, and
I feel that I need some time at the outset to make the transition from what I
have been doing to going back to work.  We can discuss further what this
means, but I really feel that it would not be good for me or my family for me
to start off working full time.

Next, I would like to talk with you about what my responsibilities would be
in the swap group if I return and have a clearer understanding of the areas
in which you would want me to work, particularly now that we have more
people.     I know that alot of chnages have occurred in the last few months
and I'm hoping that there are specific work areas that I could devote my
attention to.

Those are my thoughts for now.  As for my office, I really don't care where
it is or how large it is so just do what you need to do.  I hope that you are
doing well and I'm really looking forward to seeing you.  I will bring
pictures of Charles.  He is doing great!  Take care.

Carol St. Clair

EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com


Unless their is a reason having to do with the case( ie we can somehow
recover our attys fees} I see no reason why we should separate the bills.Send
me one bill.

	SHoward@milbank.com
	07/13/2000 07:55 PM

		 To: Richard.B.Sanders@enron.com
		 cc:
		 Subject: Farallon/Legg-Mason Bills Allocation

Richard:

Spending a block of time on Busse's deposition this week focuses me on a
question that we have never really discussed:? How would you like Milbank to?
allocate its time between the Farallon and Legg-Mason cases?

To date, without really discussing it with you, we have (1) billed the
Farallon and Legg-Mason cases separately and (2) allocated our time
specifically relating to each case to that case but allocated "common" time
entirely to the Farallon case.

Is this what you want?

Should we just send one bill for the two cases together?

If we continue separate bills, what should be the allocation principle??
Should common time be allocated all to Farallon (the current practice)??
divided 50/50 between the two cases?? divided 18/5 between the two cases
(i.e., allocated by the respective amounts in issue in the two cases) ?

Any thoughts?

Steve

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


Notice No. 01-35
February 5, 2001

TO:  All NYMEX Members/Member Firms
All NYMEX Clearing Members
All NYMEX Floor Traders
All NYMEX Operations Managers

FROM: George Henderson, Vice President

RE:  Options Expiration Operational Procedures for the Trading
Floor and Clearing Members
____________________________________________________

The expiration date for the March 2001 options contract for Platinum (POH1)
is Friday, February 9, 2001.

GENERAL OPERATIONAL PROCEDURES

All Clearing Members and Qualified Floor Traders that carried an options
position as of the close of business day prior to the expiration day, or
engaged in trading activity on Expiration Day in the expiring options
contract will be required to have a knowledgeable, duly authorized
representative present at their normal work station promptly at 5:30 p.m.
until released by the Exchange staff as specified below.  All adjustments
and/or corrections, must be accompanied by relevant supporting documentation
prior to being incorporated into expiration processing, in essence making the
expiration processing an extension of the afternoon trade resolution
procedures.  All input to the NYMEX Clearing Department will conclude no
later than 30 minutes after floor representatives are released.

Exchange Clearing (299-2110), Floor Trade Correction (299-2068 and 299-2169)
personnel, as well as a representative of the Floor Committee will be
available to assist with the processing of notices of Exercise and
Abandonment, position transfers, trade corrections and other questions or
problems you may have.

CLEARING DEPARTMENT OPERATIONAL PROCEDURES

The Option Expiration process is a screen based process for which all
information is provided on the screens on C21 terminals. No Option Expiration
Reports will be provided. The following screens will assist you through the
Option Expiration process:

MEMBER TRADE INQUIRY
Contains real-time top day trade information, trade information for the
previous 4 business days and trades adjusted for the previous 4 business days
by adjustment date.

SINGLE POSITION MAINTENANCE
Contains a real-time snapshot for each option series from the start of day
position to the projected end of day position.

REVIEW ACCEPT REJECT TRANSFERS
Contains all trade and position transfers "TO" your firm and the status of
each transfer.

REVIEW SUBMITTED TRANSFERS
Contains all trade and position transfer "FROM" your firm and the status of
each transfer.

EXERCISE NOTICE SUBMISSION
Contains your available long position and an input field to enter the number
of long positions you wish to exercise.

DO NOT EXERCISE SUBMISSION
Contains your available long position and an input field to enter the number
of long positions you wish to abandon.

POSITION CHANGE SUBMISSION
PCS may be submitted either by manual input or by electronic transmission.
Any PCS input on a Clearing 21 terminal will be the input processed by the
system.  This input may be made at any time prior to 6:45 p.m.  Any PCS input
via transmission for that contract series will be disregarded.

ALL POSITIONS ARE DEEMED FINAL
Upon completion of all PCS input, all positions will be deemed final.

EXERCISE/ASSIGNMENT INFORMATION
Will be available to you on the Single Position Maintenance window by
contract series or the Assignment List window which contains all your
Assignments on one window. You will be notified of its availability by C21
E-Mail and by Fast Facts. This should occur within 1 hour of the last PCS
input.

All Clearing Members are required to have an authorized representative(s) at
their C21 workstations in preparation for any communication during the
expiration process.

FAST FACTS
Clearing Members should call the Fast Facts information service 301-4871,
access code 700 for event messages advising Members of the event status.

E-MAIL
Clearing Members should read their C21 E-Mail messages immediately to be
aware of event status.

The standard event Fast Facts and/or E-Mail messages and the sequence in
which they will be announced are:

Standard Event Message: Announce Out-of-the Money Exercise and In-the-Money
Do Not Exercise Submissions
Approximate Time of Message Availability: 5:45 PM
Usual Event Time: 5:45 PM
Announced via Fast Facts

Standard Event Message: Announce Final Input to C21 Cutoff Time
Approximate Time of Message Availability: 6:30 PM
Usual Event Time: 6:45 PM
Announced via e-mail

Standard Event Message: All positions are deemed final
Approximate Time of Message Availability: 7:30 PM
Usual Event Time: 6:45 PM
Announced via Fast Facts

Standard Event Message: Announce Exercise/Assignment Information Available on
the Single Position Maintenance Windows
Approximate Time of Message Availability: 8:25 PM
Usual Event Time: 8:30 PM
Announced via Fast Facts and e-mail

Standard Event Message: All Report Distribution is completed
Approximate Time of Message Availability: 11:00 PM
Usual Event Time: 11:00 PM
Announced via Fast Facts

The times appearing in the Usual Event Time column are based on normal
operational conditions and could vary.

NYMEX EXPIRATION DAY PROCESSING OVERVIEW OF MEMBER REQUIREMENTS

Time: 5:30 PM
Activity: Exercise Notice Submission
Event: Input to C21 Cutoff Time
Reference Number: 1

Time: 5:30 PM
Activity: Do Not Exercise Submission
Event: Input to C21 Cutoff Time
Reference Number: 2

Time: 5:45 PM
Activity: Announce Out-of-the-Money Exercise and In-the-Money Do Not Exercise
Submissions
Event: Fast Facts Notice
Reference Number: 3

Time: 6:30 PM
Activity: Announce Final Input to C21 Cutoff Time
Event: C21 E-mail
Reference Number: 4

Time: 6:45 PM
Activity: Final Input to C21 Cutoff Time
Reference Number: 5

Time: 7:30 PM
Activity: All Positions are Deemed Final
Event: Fast Facts Notice
Reference Number: 6

Time: 8:25 PM
Activity: Announce Exercise/Assignment Information Available on the Single
Position Maintenance Windows
Event: Fast Facts Notice and C21 E-mail
Reference Number: 7

If you have any questions concerning these procedures, please contact Charles
V. Bebel at 299-2130, Angel Rivera at 299-2150 or Anthony Di Benedetto at
299-2152 prior to the expiration date.

__________________________________________________
Please click on the link below to indicate you have received this
email.

"http://208.206.41.61/email/email_log.cfm?useremail=sara.shackleton@enron.com&
refdoc=(01-35)"

Note: If you click on the above line and nothing happens, please copy
the text between the quotes, open your internet browser,
paste it into the web site address and press Return.


Here's a laugh for today:

In an emergency session of Congress, just completed, an official change to
the name of one of the 50 United States will take place.  As of noon today,
November 22, 2000 the state formerly known as Florida, will officially be
renamed "Floriduh."  Please make  note  of the change.


pls print.  thanks df
---------------------- Forwarded by Drew Fossum/ET&S/Enron on 01/25/2001
04:48 PM ---------------------------

Susan Scott
01/24/2001 11:12 AM
To: Paul Cherry/GPGFIN/Enron@ENRON
cc: Steven Harris/ET&S/Enron@ENRON, Drew Fossum@ENRON, Shelley Corman, Lee
Huber/ET&S/Enron@ENRON

Subject: Re: PG & E Capacity

Paul, as we discussed on the phone, here are my conclusions on the
terminability of our firm contracts with PG&E.  I believe Drew and Shelley
concur (and they are welcome to add their comments, of course).

If PG&E fails to comply with our request for assurance of creditworthiness,
the "Termination" provisions of Section 16.1(b) of our General Terms and
Conditions will be triggered.  If PG&E fails to perform any obligation under
a service agreement, TW may terminate the agreement under the following
procedure:  1) TW serves written notice on PG&E that it is in default, and
that TW intends to terminate the agreement, 2) PG&E gets 30 days to remedy
the default, 3) if PG&E does not remedy the default within 30 days, the
agreement shall become null and void, after we obtain the requisite
regulatory approvals, which Shelley advises me would include obtaining
abandonment authority from FERC.

The Bankruptcy Code provides that a utility may not alter, refuse or
discontinue service to a debtor solely because of commencement of a
bankruptcy action or because a debt owed by the bankruptcy debtor was not
paid when due.  However, the utility may alter, refuse or discontinue service
if neither the trustee nor the debtor, within 20 days after the date of an
order for relief, furnished adequate assurance of payment for service after
such date.  I am not a bankruptcy expert, but my point is simply that our
rights may change once a bankruptcy action is filed.  Let's hope that our 30
days runs before PG&E goes to Bankruptcy Court.  FERC has held that
termination of service cannot be inconsistent with federal bankruptcy law:
see El Paso Natural Gas Company, 61 FERC P61,302 (1992) (involving El Paso
Electric bankruptcy).

As far as whether there could be a temporary release of PG&E's capacity, our
tariff does not contain any provision under which we could compel any shipper
to release its capacity.  PG&E certainly has the ability to release its
capacity, but it does not sound as if they would want to without some
incentive.

If there are any other questions give me a call (or Drew or Shelley).

	From:  Paul Cherry                           01/24/2001 10:50 AM

To: Susan Scott/ET&S/Enron@ENRON
cc:

Subject: Re: PG & E Capacity

 Per our conversation.

 Thanks
---------------------- Forwarded by Paul Cherry/GPGFIN/Enron on 01/24/2001
08:49 AM ---------------------------

Steven Harris
01/23/2001 01:19 PM
To: Paul Cherry/GPGFIN/Enron@ENRON
cc:

Subject: Re: PG & E Capacity

I am not sure I exactly understand your question. It is possible for us to
sell the space if PG&E were to release it. However, I am sure PG&E has no
intention of letting it go as they need it for their core supplies. Also,
since the market value of the space is greater than what they pay us it would
cost them more money in the long run to get rid of it and have to buy/ ship
supplies under some other supply arrangement. For an answer to any legal
rights they have Susan Scott would be the best one to answer that.
Thanks.

	From:  Paul Cherry                           01/23/2001 12:48 PM

To: Steven Harris/ET&S/Enron@ENRON
cc:

Subject: PG & E Capacity

 Steve,

 The question has been brought up in regard to the capacity that PG&E holds
and it's marketability, in the event that PG &E defaults and goes into
bankruptcy.  Could a preauthorized temporary release of this capacity be
considered where performance would continue, while PG & E would retain it's
liability under the Firm Contracts?

 Thanks and Regards.


I have spoken with Susan Ruggles at Goldman Sachs (guarantor for J. Aron) a
couple of times and she informed me that the Assignment Agreement is being
reviewed by legal.  The attorney is Steve Bunkin, whom I have also left a
message.  The assignment has been executed by Statoil and Enron, and was sent
to Goldman Sachs on October 2.  I will continue to contact them, or, if you
would like to call, Steve's number is 212-902-0952, email is
steven.bunkin@gs.com.

Stephanie


Let me know if anyone in your group is interested.  Mark
----- Forwarded by Mark E Haedicke/HOU/ECT on 03/27/2001 02:51 PM -----

	Mark Frevert/ENRON@enronXgate
	Sent by: Nicki Daw/ENRON@enronXgate
	03/27/2001 11:50 AM

		 To: Sally Beck/HOU/ECT@ECT, Wes Colwell/ENRON@enronXgate, Timothy J
Detmering/HOU/ECT@ECT, W David Duran/HOU/ECT@ECT, David
Oxley/ENRON@enronXgate, Brian Redmond/HOU/ECT@ECT, Joseph
Deffner/ENRON@enronXgate, Beth Perlman/ENRON@enronXgate, Phillip K
Allen/HOU/ECT@ECT, Barry Tycholiz/NA/Enron@ENRON, Scott Neal/HOU/ECT@ECT,
Frank W Vickers/NA/Enron@Enron, Hunter S Shively/HOU/ECT@ECT, John
Arnold/HOU/ECT@ECT, Fred Lagrasta/HOU/ECT@ECT, Kevin M Presto/HOU/ECT@ECT,
Jean Mrha/NA/Enron@Enron, Julie A Gomez/HOU/ECT@ECT, Scott
Josey/ENRON@enronXgate, C John Thompson/ENRON@enronXgate, Michael L
Miller/NA/Enron@Enron, Ozzie Pagan/ENRON@enronXgate, Mark E
Haedicke/HOU/ECT@ECT, Eric Thode/Corp/Enron@ENRON, Scott
Tholan/ENRON@enronXgate, Vince J Kaminski/HOU/ECT@ECT, Bruce
Garner/LON/ECT@ECT, Bob Crane/ENRON@enronXgate, Greg
Hermans/ENRON@enronXgate, Rodney Malcolm/ENRON@enronXgate, Robert
Saltiel/ENRON@enronXgate, Tim Battaglia/Enron@enronXgate, Brad
Kirchhofer/ENRON@enronXgate, Julia Murray/HOU/ECT@ECT, Bill W
Brown/ENRON@enronXgate, Andrew Kelemen/ENRON@enronXgate, Brenda F
Herod/ENRON@enronXgate, Delmar Davis/ENRON@enronXgate, Daniel
Hamilton/ENRON@enronXgate, Kent Castleman/ENRON@enronXgate, Fran L
Mayes/ENRON@enronXgate, Stephen H Douglas/ENRON@enronXgate, Andrea V
Reed/ENRON@enronXgate, Robert W Jones/ENRON@enronXgate, Suresh
Raghavan/ENRON@enronXgate, Andy Zipper/ENRON@enronXgate, Rex
Shelby/ENRON@enronXgate, Thomas D Gros/ENRON@enronXgate, Dan
Bruce/ENRON@enronXgate, Jenny Rub/ENRON@enronXgate
		 cc: Shirley Tijerina/ENRON@enronXgate, Susan Fallon/Corp/Enron@ENRON, Tina
Rode/HOU/ECT@ECT, Julie Clyatt/ENRON@enronXgate, Lillian Carroll/HOU/ECT@ECT,
Megan Angelos/ENRON@enronXgate, Cherylene Westbrook/ENRON@enronXgate, Tamara
Jae Black/HOU/ECT@ECT, Tonai Lehr/ENRON@enronXgate, Anabel
Gutierrez/HOU/ECT@ECT, Christy Chapman/ENRON@enronXgate, Janette
Elbertson/HOU/ECT@ECT, Sharon Purswell/ENRON@enronXgate, Sue
Ford/ENRON@enronXgate, Marsha Schiller/ENRON@enronXgate, Peggy
McCurley/ENRON@enronXgate, Tina Spiller/ENRON@enronXgate, Patti
Thompson/HOU/ECT@ECT, Lacye Trevino/NA/Enron@Enron, Patricia
English/Enron@EnronXGate, Angela Collins/ENRON@enronXgate, Christy
Chapman/ENRON@enronXgate, Liz M Taylor/HOU/ECT@ECT, Kimberly
Hillis/ENRON@enronXgate, Tammie Schoppe/HOU/ECT@ECT
		 Subject: Junior Achievement

On Wednesday, April 11, 2001, Enron, in conjunction with Junior Achievement,
will host 40 students from Westside High School and Kerr High School for a
day of Job Shadowing.  This program,s objectives are to demonstrate why a
sound education, interpersonal skills, and a strong work ethic are needed to
be successful in the workplace.

The Job Shadowing program consists of the following:

 8:45 AM  Students arrive
 9:00 - 10:30 AM Welcome, Overview, Video, and Tours
 10:30 - 12:00 N Individual Job Shadow Experience with Enron Employees
 12:00 - 1:00 PM Student Lunch with Closing Comments
 1:00 PM  Students return to schools

We need your assistance in identifying individuals within your area who would
be available to assist with the job shadowing experience.  Please contact
Nicki Daw ASAP with your recommendations.  More detailed information will be
supplied to the employees assisting.

Thank you for your support of the Enron/Junior Achievement Job Shadowing
program.


This is a reminder that the lunch for Rod is tomorrow (Tuesday) at noon in
the Wine Room at Grappino di Nino (behind Vincent's).  We look forward to
seeing you all tomorrow.  Thanks, Suzanne, x37340


WATCH PUCT AND TNRCC ON THE INTERNET

The Public Utility Commission of Texas (PUCT) and the Texas Natural Resource
Conservation Commission (TNRCC) Open Meetings and Work Sessions are now
available on the Internet in compact video format.

TexasAdmin.com offers this service by subscription.? The TexasAdmin.com web
site provides sample PUCT and TNRCC programs.? Scroll down the Home Page to
"View a Sample Meeting" and click.? Select a program from the list and
click.? If you do not have RealPlayer 7 or 8, scroll to the bottom of the
Home Page and click for the free download.? If you want step-by-step
instructions for the download, click on, and print out, the button below the
RealPlayer download button.? If you have any trouble, call us at 512-708-0792
and we will walk you through the process.? If your browser does not respond
to TexasAdmin.com, go to http://www.texasadmin.com.

This service is valuable for two reasons:
? 1.??? It saves you time; you do not have to attend the meeting; you? watch
when it is convenient for you, from any location.

2.??? It creates a visual record of important administrative decisions and
the reasoning behind them.
?Meetings are now available with a two-business day delay.? Pending
installation of our high speed line later this month, the PUCT meetings will
be live and the TNRCC meetings will be available with a 4-hour delay (and
eventually live).? Pricing is $200 - $275 per month for a passcode depending
of the number purchased.? Passcodes are assigned to an individual who can se
them on any computer.? Charter subscriber discounts are available through the
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Click on "Subscription Information" for more details and then e-mail
TonyBreard@TexasAdmin.com, or call us to discuss.
 - breard.vcf


Here are the Aquila questions - partially answered. If your not sending out
tonight, I need to verify the $48,000 and clean up the answer for #4.
Ben


thanks


[IMAGE]
	  Hello again,  [IMAGE] [IMAGE]  [IMAGE]Indulge  with your sweetie on Valentine's Day  at Sambuca, and spoil the one you love. Share a sinfully divine fare  from Chef Carl Johnston's evening specials including dishes like Alligator  Bisque and Filet Mignon with Lobster for two. Be immersed  in the intoxicating love of your sweetheart with a bottle of wine from  our extraordinary wine list and a dessert to die for - Chocolate  Seduction for two. Let the ambiance of Sambuca add romance to your  evening with the sultry ballads of Shari Lavo. Make your reservations  for the 5:30, 7:30 or 9:30 seating at 713.224.5299.   [IMAGE]  [IMAGE]In  March, we continue our "Jazz Heavyweights Series" with seven-time  Grammy Award-winning tenor saxophonist and composer, Michael  Brecker. Wed., March 20, don't miss out on this major figure in  contemporary instrumental music. We are very fortunate to feature Mr.  Brecker who's made it to the top of the ranks, playing with jazz icons  such as George Benson, Chick Corea, Dave Brubeck, Herbie Hancock, Quincy  Jones and Pat Metheny, not to mention an exhaustive list of pop icons  including Lennon, Springsteen, Zappa, Sinatra, Elton John, Diana Ross,  Joni Mitchell, Paul Simon, the Stones and Steely Dan. Tickets are $25  - $50. Call 713.224.5299 for reservations.   [IMAGE]  [IMAGE]At  Sambuca, superior service, excellent food, and stop-you-in-your-tracks  ambiance set the standard for lunch downtown. Maybe it's a corporate  meeting for 100 people or a client luncheon for two - either way, we  have the privilege of exceeding your expectations. In addition to many  of our dinner entr?es like the Zebra Pasta Pocket and  Chicken Picatta, we feature salads and sandwiches like the Spring  Spinach Salad - spinach tossed with Creole honey mustard, walnuts  and seasonal berries or the Poulet de Brie - a grilled chicken  breast with cr?me de brie and whole grain mustard on a focaccia  roll.   [IMAGE]  We believe in supporting the talented musicians of  Houston, but hey, we know Dallas can turn out some pretty amazing talent  too. Case in point is Melani Skybell, a favorite songstress in  the Big D. She'll grace our stage in Houston on Wed., Feb. 6.  Her repertoire includes traditional jazz numbers, sultry ballads, swing  standards, bossa novas and pop classics. And the music in 2002 just  gets better and better - find out all the details at www.sambucajazzcafe.com .  Coming soon are El Orbits, Jawad and Kelly Dean.   [IMAGE]  This e-newsletter is delivered monthly, highlighting  upcoming events as well as special offers on food and wine. Do you know  someone who might like to receive Sambuca Signals? If so, please  forward this letter to them or send their e-mail address to sambuca@sambucajazzcafe.com .   [IMAGE]  Please call Sambuca directly at 713.224.5299. While  we try to respond to e-mails it may not be possible to do so. Should  you decide to break our webmaster's mother's heart and unsubscribe,  click  here .      The Sambuca Web Team

		[IMAGE]


I rolled the deal for Jan and Feb.

D


This in an automated e-mail sent out from the Commissioner.COM
web site.  Do not reply to this e-mail, but instead please visit
your league's site at http://football.commissioner.com/kourn

-------------------------------------------------------------

Phillip Love requests the following transaction:.

  Drop Jake Plummer.
  Add Drew Bledsoe.

-------------------------------------------------------------

To approve this transaction, please go to your web site and
select Transactions, Requests in the Front Office.


-----Original Message-----
From: 	Maronge, Bridget
Sent:	Monday, June 18, 2001 10:13 AM
To:	Glisan, Ben; Dauterive, Inez; Donahue, Jeff; Dorsey, Joyce; Davidson, Sara
Cc:	Bibi, Philippe A.; Blachman, Jeremy; Bowen Jr., Raymond; Brown, Michael - COO London; Buy, Rick; Causey, Richard; Cline, Wade; Cox, David; Delainey, David; Derrick Jr., James; Dietrich, Janet; Fallon, James; Frevert, Mark; Glisan, Ben; Hayslett, Rod; Horton, Stanley; Hughes, James A.; Kean, Steven; Koenig, Mark; Lavorato, John; Lay, Kenneth; Leff, Dan; McCarty, Danny; McConnell, Mark; McDonald, Rebecca; McMahon, Jeffrey; Metts, Mark; Muller, Mark; Olson, Cindy; Pai, Lou; Scrimshaw, Matthew; Shankman, Jeffrey A.; Sherrick, Jeffrey; Sherriff, John; Skilling, Jeff; Sunde, Marty; Whalley, Greg; Elliott, Steven M.; Hannon, Kevin; Kitchen, Louise; Piper, Greg; Rice, Kenneth
Subject:	Mandates

To:  Legal, Finance, and Corporate Development Personnel
Cc:  Enron Executive Committee
From:  Andy Fastow

All mandates for mergers and acquisitions and finance work must be approved and executed by Jeff Donahue or Ben Glisan, respectively.  Please advise your business units, if appropriate, of this procedure.


I will be out of the office on Tuesday, October 10th. My son Joseph and I
have follow-up appointments on this day.  Thank You.


Will do.  Thanks!


Beth Ann:

Here's the support sent by UBS.  You may already have already reviewed.  Sara
----- Forwarded by Sara Shackleton/HOU/ECT on 12/20/2000 08:23 AM -----

	Christine.Lee@ubsw.com
	12/20/2000 07:52 AM

		 To: Sara.Shackleton@enron.com
		 cc: Clint.Freeland@enron.com, Jim.Armogida@enron.com, Jeff.Nogid@enron.com,
Ryan.Siurek@enron.com, Clint.Walden@enron.com
		 Subject: eitf meeting minutes attached

     Sara,

     As per your request, attached are the minutes.  Bullet points 36 and
     37 refer to the subject of having an ongoing obligation.

     Regards,
     Christine

______________________________ Reply Separator
_________________________________
Subject: markup of forward confirmation
Author:  Sara.Shackleton (Sara.Shackleton@enron.com) at unix,mime
Date:    12/19/00 4:09 PM

Christine:

Attached are Enron Corp.'s comments to your form of forward.  I'll try to
have Jeff and'or Clint available for a conversation.  Thanks.  Sara

(See attached file: UBS Forward.DOC)

 - MINUTE~4.DOC

Visit our website at http://www.ubswarburg.com

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Mitch:
Here are the questions for Ameren.  I wanted to incorporate your comments
before we sent them out today, so if you could comment on some of these
questions that would be very helpful.  Thanks
Ben


Chris Gaskill runs the day to day activities.