F.Y.I.

  E-Commerce; Section H
  BUSINESS TO BUSINESS
  Step Right Up and Buy a Megawatt!
  By MATTHEW L. WALD

  09/20/2000
  The New York Times
  Page 15, Column 1
  c. 2000 New York Times Company

  MANY Web sites scream about what they will sell you for next to nothing, or
less. But how
  about a site that pays you not to buy?

  A strange notion, but one that has more solid economic underpinnings than
many of those
  desperate give-it-away dot-coms. Then again, the commodity in question is
not the typical
  stuff of e-commerce transactions, like a plane ticket from Cincinnati to
Nashville next
  Thursday or a vintage Barbie doll or 20,000 widgets of a certain shape.
This promising new
  business is using e-commerce for a commodity that absolutely everybody
needs:
  electricity.

  As it turns out, one kilowatt may look like another, but its price may vary
by a factor of
  more than 100 in a single day. At night a kilowatt-hour -- the amount of
electricity needed to
  light 10 100-watt bulbs for an hour -- may sell for a penny or two, because
most of the
  generating capacity is unused. But on a hot afternoon, in places where the
market is
  deregulated, the same amount of power could cost $1 or $5, or even more.

  Traditionally, though, utilities charge most customers pretty much the same
price for the
  kilowatt-hour no matter what they pay to buy it or if they generate it
themselves. Even
  companies with time-of-day rates are charging a price that varies by only a
few pennies
  from peak to off-peak.

  But as California approached a summer of tight electricity supplies this
year, Pacific Gas
  and Electric started an e-commerce marketplace where customers could be
paid not to
  buy. In theory, the system would work with any customer, but it is only
practical with big
  consumers, mostly businesses, because otherwise the number of transactions
becomes
  hard to manage.

  As the state danced on the edge of rotating blackouts, the company quickly
applied to
  regulators for permission to expand its program, called E-Bid. The system
works like this:
  every afternoon, the utility gets an estimate of what power will cost on
the wholesale market
  the next day. When the price is high, the utility notifies big customers
that have signed up
  for its program, alerting them to log on to a secure Web site.

  There, according to Ronald K. Lowe, a company spokesman, the estimated
price is
  posted. If the customer, generally a factory, is willing to cut its
consumption 20 percent
  from its normal level, then it accepts the bid, and the utility pays the
customer the posted
  price, minus the normal retail cost per kilowatt-hour. If the bulk price is
$250 a
  megawatt-hour, for example, that makes electricity 25 cents a
kilowatt-hour, compared with
  a typical price to the factory of 5 cents or so. For every kilowatt-hour
that the factory does
  not use on the next day, the company pays 20 cents.

  The transaction has two functions. It cuts the risk of the grid running
short of power and
  causing a blackout. And by reducing the peak demand, it takes a few buyers
out of the
  market and makes the price lower for the remaining buyers. As the summer
ended,
  proponents of this kind of marketing said that the unanticipated price
swings, especially in
  places like San Diego, where some customers faced bills that had tripled,
showed the
  necessity for making hourly prices obvious to electricity users, so that
they would not
  blithely continue with normal consumption patterns at times of
extraordinary price spikes.

  But the California program is still small; on one tough day this summer,
July 31, 29
  customers participated, cutting demand by 40 megawatts, compared with a
peak demand
  of 21,000 megawatts.

  Pacific Gas and Electric charges customers $600 to enter the program and
requires that
  they be able to cut demand by at least 500 kilowatts, which is enough to
run about 100 big
  houses. But it has applied for permission to cut the entry fee to $100 and
take applicants
  who can cut demand by only 250 kilowatts.

  Such transactions are only possible through electronic commerce, but by
setting just one
  price in a 24-hour period, P.G.& E.'s system is hardly taking full
advantage. Wisconsin
  Electric Power began a more flexible system this summer in which it invites
big customers
  to log on to a site, where it offers a price per kilowatt-hour not used. If
it does not attract
  enough bidders to meet its needs, it can post a new bid price a few minutes
later.

  Such transactions could apply the market forces that already exist at the
wholesale level to
  the level of the electricity user, possibly even a homeowner.

  ''There's been a whole lot of debate over the years as to whether or not an
average
  consumer will ever shift consumption based on price principles,'' said
Scott A. Weiner, a
  senior vice president of Sithe Northeast, an independent power producer.
''On the other
  hand, people who run large office buildings or factories can get those
price signals in a very
  strong way,'' said Mr. Weiner, a former environmental commissioner for New
Jersey.

  BUT, he said, at the moment, there is a supply curve -- a changing level of
the amount
  available, depending on the price offered -- but no real demand curve,
because the buyers
  do not know what the price is and thus cannot respond. Demand is therefore
not affected
  by price.

  ''In the absence of a demand response, nobody can ever say, 'The price is
too high, I'm not
  going to pay that,' '' Mr. Weiner said. ''As load response programs come
into development,
  it's clear the Web will play a very vital part of making that real and
accessible.''

  A second form of e-commerce is emerging on a business-to-business model,
and it's one of
  the few forms that the government has required. It is called Oasis, for
Open Access
  Same-Time Information System, ordered by the Federal Energy Regulatory
Commission.
  Oasis gives companies that build free-standing power plants a way to market
their power
  and for companies that consume electricity a way to see the market. Oasis
systems are
  increasingly operated by new entities called Independent System Operators,
which have
  been formed on the East Coast and in California to run the transmission
grids that were
  formerly controlled by electric utilities.

  The systems vary from place to place, but are supposed to show the price of
electricity,
  sometimes broken down by location, to take account of transmission
bottlenecks.

  At the California Independent System Operator, William H. Simmons, the
manager of
  market applications, development and support, said that some aspects of
electricity trading
  existed years ago on electronic bulletin boards. But the ability of users
to identify available
  transmission links and schedule their use depended on the Web. ''It could
not have
  happened if it were not for the Internet,'' he said. The Independent System
Operator works
  with the California Power Exchange to arrange delivery of the power that
generators and
  customers contract for on the exchange.

  Both Oasis and programs like E-Bid have the potential to adjust electricity
use to reflect
  costs, experts say, and that would be one way to hold down peak demand and
thus make
  the system less prone to overload.

  Eric Hirst, an energy consultant in Oak Ridge, Tenn., and a former
scientist at the national
  laboratory there, speaking at a conference in Washington this spring on
reliability problems,
  said the result would contrast with the former pattern of electricity use.
When people know
  the price of a product they are consuming, they behave differently,
economists say; in the
  case of electricity, they will consume it in relation to its seasonal price
or even hourly price.

  As Mr. Hirst said, ''When people used to pay 5 cents a kilowatt-hour, it
didn't matter to
  them whether electricity was free or $2 a kilowatt-hour.''

  Graph: ''Lights Out'' Californians use so much electricity that the state
is flirting with
  blackouts. And because of deregulation , prices are sharply higher,
especially in peak
  periods. Now, utilities are paying some big customers to cut their
consumption during
  those periods. Below, the California Power Exchange's output and prices for
one day last
  June. Graph shows output compared to price. (Source: California Power
Exchange)

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

Report: US Transition To Competitive Pwr Markets Muddled

09/20/2000
Dow Jones Energy Service
(Copyright (c) 2000, Dow Jones & Company, Inc.)

(This article was originally published Tuesday)

WASHINGTON -(Dow Jones)- The U.S. electricity sector is mired in a "prolonged
and muddled transition" from
regulated monopolies to competitive markets, and the political arena offers
little hope of fixing the problem,
according to the authors of a new report from Cambridge Energy Research
Associates and Arthur Andersen.

The report, "Electric Power Trends 2001," paints a picture of inefficiently
structured and balkanized power markets
hampered by inelastic demand and a gridlocked power grid.

With myriad special interests involved in framing the debate, politicians at
neither the state nor the federal level are
likely to resolve the problems anytime soon, said Cambridge Energy's Lawrence
Makovich and Arthur Andersen's
Jon Wierda.

"Unfortunately, the power industry right now is muddling through," Makovich
said. "There isn't an effective political
process to sort this out."

"We don't see this as something that's going to have a quick fix," agreed
Wierda.

The solution to the problem is "expert design," rather than the political
process, Makovich said.

The report assesses the status of electric industry competition two years
after California became the first state to
deregulate and open up its retail power market.

And with California's ill-designed and flawed market restructuring causing a
headline-grabbing power-supply crisis,
there is an increasing risk that a backlash will cause policymakers to
re-regulate the industry, Makovich said.

Already a half-dozen states have moved to slow down previously approved plans
to open up power markets to
competition, Makovich said, citing New Mexico, North Carolina and Oklahoma as
among those.

"There are right ways and wrong ways to put a competitive market together,"
he said, critical of the "serious flaws"
in California's approach, which contributed to a dearth in investment in
generation and transmission capacity.

The report identified a number of what it deemed surprises in the wake of
California's first-in-the-nation
deregulation experiment.

Among them, the report cited:

- A patchwork quilt of restructured markets has developed, the result of the
failure of Congress to issue a top-down
restructuring mandate providing "immediate and sweeping changes." As of 2003,
only half of U.S. electricity
consumers will have a choice among competitive power providers, the report
found.

- In states where customers do have a choice among competitive providers,
they are choosing not to choose. "Less
than 1% of electric customers switched from a traditional supplier in 1999,
even though more than 20% of retail
customers could choose among alternative power suppliers," the report found.

- The lack of investment in transmission interconnections has contributed to
balkanized power markets with "sharp
locational price differentials," the report said.

- Volatility in power markets once deemed abnormal is rapidly becoming the
norm, despite flourishing competitive
spot markets for wholesale power.

- This market volatility has prompted what could become "an electric supply
tsunami," as proposals have been
advanced to build 240,000 megawatts of generation capacity, an amount
equivalent to one-third of the existing
capacity in the U.S.

- Transmission capacity has declined and bottlenecks aren't being resolved,
contributing to increased threats of
blackouts and brownouts. The Federal Energy Regulatory Commission's order on
regional transmission
organizations puts the issue at "center stage," the report said. "However,
the order is not a bold move to confront
gridlock."

Many of the surprises identified in the report are interwoven with one
another.

For instance, the potential for supply to overwhelm demand, represented by
the large number of new power plant
proposals, is exacerbated by the economics of the industry that provide an
incentive to keep older plants operating.

There are 40,000 megawatts of new power plant capacity now under
construction, and another 30,000 megawatts
for which developers are seeking permits to build, Makovich said. Even with a
50% failure rate, that represents two
to three times the amount needed, he said.

And the surprise doubling in natural gas prices over the past year
complicates those development plans, since 93%
of the planned projects involve gas-fired plants, the report said. The report
attributed the doubling in gas prices to a
lack of coordination between investments in natural gas supply and power
generation.

"High gas prices make old plants all the more valuable," said Makovich.

Further, the surprising value of divested power plants, many of which are
more than 30 years old, and which sold for
as much as four times book value, has resulted in utilities' stranded
investment being much less than anticipated.

The gridlocked transmission network complicates the "misalignment
geographically" of much of the planned power
plant development, Makovich said. He noted that California, where there is a
severe supply crisis, hasn't built a new
plant in a decade, while Texas is overbuilding.

Makovich credited ill-designed markets with the failure of retail customers
to switch power suppliers.

A key component of California's supply crisis was the "well-intentioned"
decision to impose a rate freeze for retail
customers until the state's three investor-owned utilities paid down their
stranded investment, Makovich said.

But without retail customers receiving a price signal allowing them to react
to growing market volatility, there was no
demand response, and the volatility was exacerbated.

The California market design left San Diego's consumers subject to
spot-market pricing just as the supply crisis
caused by the price freeze erupted, he said.

"The companies with active management able to react to surprises are the
companies that will survive" the
transition, said Wierda. The "tsunami" of power plant investment will require
a portfolio approach to asset
management, he said.

Successful companies will be headed by chief executive officers who act as
"chief risk officers," he said.

-By Bryan Lee, Dow Jones Newswires; 202-862-6647; bryan.lee@dowjones.com

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

  THE WALL STREET JOURNAL / CALIFORNIA

  What's News: California

  09/20/2000
  The Wall Street Journal
  Page CA1
  (Copyright (c) 2000, Dow Jones & Company, Inc.)

 Escaping Rate Freeze

  PG&E Corp. is banking on the proposed sale of its extensive Northern
California
  hydropower operations to help it get out from under a consumer-rate freeze
that the
  company says has cost it $2.2 billion this summer. The San Francisco-based
company's
  utility unit, Pacific Gas & Electric Co., wants to sell the 4,000-megawatt
hydroelectric
  system -- the largest network in North America -- to an unregulated fellow
affiliate. Such a
  move would generate upward of $2.8 billion in cash and allow the utility to
pay off its
  so-called stranded costs, principally expensive nuclear-power plants. Once
that happens,
  the utility said in filings with the U.S. Securities and Exchange
Commission, it intends to
  seek permission from state regulators to end the consumer-rate cap. Under
the state's
  1996 electric- deregulation law, PG&E would then be free to raise rates and
recoup
  losses caused by this summer's spike in the wholesale electricity price.

  Metro; Metro Desk
  COMMUNITY NEWS / COVERING ORANGE COUNTY'S 33 CITIES COSTA MESA
  Jennifer Kho, (949) 574-4275

  09/20/2000
  Los Angeles Times
  Orange County Edition
  Page B-5
  Copyright 2000 / The Times Mirror Company

  Representatives of Costa Mesa and Santa Ana businesses will meet for lunch
today to
  discuss electricity conservation and the possibility of power outages.

  The South Coast Metro Alliance will present a meeting titled "If the Power
Goes Out: A Hot
  Topic as Temperatures Increase," from 11:45 a.m. to 1:15 p.m. at the Westin
South Coast
  Plaza, 686 Anton Blvd., Costa Mesa.

  Presentations will include information about the availability of
electricity, rolling power
  outages, the impact of the electricity situation on businesses,
deregulation legislation and
  conservation efforts.

  Information: (714) 435-2109.

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


Attached are the imbalances as of the 17th.  The plant will be down for approximately 14 to 16 days.

Thanks,
Amy Mulligan


-----Original Message-----
From: 	community-relations@enron.com@ENRON [mailto:IMCEANOTES-community-relations+40enron+2Ecom+40ENRON@ENRON.com]
Sent:	Monday, July 30, 2001 8:20 AM
To:	HRGIM
Cc:	vkamins@enron.com
Subject:	Thank you for your Contribution!  Together we CAN change lives!

Thank you for changing lives.

Employee ID:  90012910
Name:  WINCENTY J KAMINSKI
Payment Amount:  10000.00
Payment Method:  Deduct a portion from each paycheck
Leadership Giving Roster:  Listed among the Alexis de Tocqueville Society
Make a Difference Club:  Continuing Member
Mailing Address:
10 SNOWBIRD RD
THE WOODLANDS , TX  77381
US
Your donation is designated for:  Associated Catholic Charities of the
Diocese of Galveston - Houston
Written Acknowledgement of Contribution:  YES

	"You will find, as you look back on your life, that the moments that
stand out are
	the moments when you have done things for others."
		-Henry Drummond

**********************************************************************
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.
**********************************************************************


Don't you remember at Sara's party, we were talking to Bill, and telling him
how you were our favorite Credit person, and he said, "but I thought I was
your favorite Credit person...", and since he is your boss, it seems quite
political (for both you and me!) that he is always #1, anyway...a girl's
always got to hedge her bets...!!

	Russell Diamond
	08/28/2000 03:12 PM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: Re: HQ Energy Services

(after Bill) ???????

From: Tana Jones on 08/28/2000 03:07 PM
To: Russell Diamond/HOU/ECT@ECT
cc:
Subject: Re: HQ Energy Services

There's a reason why you earned the title of "Favorite Credit Person (after
Bill)"...!

	Russell Diamond
	08/28/2000 02:46 PM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: HQ Energy Services

Tana,

Please see attached Credit W/S for HQ.

Thanks
Russell


As of now, all trades done with Texaco will now be listed with the short name
of TEXACOINC instead of TEXACOGASMKT.

Also, the broker TCT Natural Gas has become of part of Tradespark, LP.

If you have any questions, please let me know.

Thanks,

Patrick  53877


Notice No. 01-434
December 26, 2001

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

FROM:	Michael Campanelli, Vice President
		Floor Operations, COMEX Division

RE:		Spot Month Procedures on the Eve of First Notice Day

Please be reminded that Monday, December 31, 2001, is the First Notice Day,
for the Gold, Silver, Copper and Aluminum futures delivery month of January
2002 (the new spot month).

On Friday, December 28, 2001, the Eve of the First Notice Day, all Brokers
and Clearing Members must have a duly authorized, On-Line Trade Entry
("OLTE") system trained representative available until such time as the
Exchange deems necessary.

It is imperative that trades involving the Spot Month are processed and
cleared properly.  Therefore, representatives are expected to make a
diligent effort to process all Spot Month trades accurately.

Failure by any Clearing Member or qualified Floor Trader to show due
diligence involving Spot Month Trade processing may result in severe
disciplinary action by the Exchange.

If you should have any questions, please do not hesitate to contact David
Sherman at (212) 299-2061.


You have received this message because someone has attempted to send you an e-mail from outside of Enron with an attachment type that Enron does not allow into our messaging environment. Your e-mail has been quarantined and is being held at the MailSweeper server.

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If the intended email is of valid business-related content and you believe it requires Enron resources to retrieve it, you may call your Help Desk and ask to have it released from quarantine and delivered to your e-mail Inbox. Your message will be scanned and checked for viruses prior to requested release.  If it contains a virus or there is reason to suspect it is malicious code, it will not be delivered.

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Please DO NOT reply to this address as it is not a monitored system mailbox.


Contrary to my earlier E-mail, our answer is due on the 26th.


***BELOW ARE SUMMARIES OF THE HELPFUL FERC STAFF INVESTIGATIONS LEAD BY SCOTT
MILLER (WHO REPORTS TO DAN LARCAMP) -- BOTH WILL JOIN THE ENRON EXECUTIVES AT
LUNCH THURS. 12/7.
-
MIDWEST AND SOUTHEAST SUMMARIES

On 11/1/00, FERC Staff issued reports on its Investigation of Bulk Power
Markets in the Eastern Interconnection.  These reports were the result of a
Commission order earlier this summer.  Enron's Federal regulatory staff
(Christi, Charles Yeung, and Sarah Novosel) provided a great deal of
information for this investigation and Joe Hartsoe and Donna Fulton discussed
many of the problems with the grid with the new head of Staff, Scott Miller
(who recently joined FERC from PG&E Gen).    While the Commission is under no
obligation to take any of Staff's recommendations, the Commission typically
looks to Staff for guidance on transmission and market issues.  Importantly,
Staff concludes that the Commission should consider these options for the
Southeast and Midwest -- all of which Enron has been asking FERC to implement
for several years:

Reduce the advantages of network service over point to point service by
requiring that native load be served under the same tariff as other
transmission services to eliminate the current incentives that VIUs have to
favor their native load through the calculation of ATC and handling of
interconnection requests.

While the Staff Hotline is used productively, the Commission can direct Staff
to conduct formal investigations into entities that have a pattern of
complaints.

The Commission could require TPs to submit tariff provisions containing a pro
forma interconnection process specific to interconnection, rather than simply
relying on the Tennessee Power order that utilizes the OATT timelines and
procedures.

Require TPs to retain real-time transmission data on market functions
pertaining to daily load, internal generation to meet that load, and imports
and exports.

RTOs should submit the basis and methods for calculating ATC and TTC, as well
as standardized criteria for curtailment.  In addition, since even such
standardized criteria might not "get to the root of the problem" -- that
control area still control generation -- the Commission could require that
each RTO set a date certain by which it will create one control area.
Regardless of the implementation of these two options, the Commission could
standardize ATC and TTC methodology.

Staff finds that while electricity is a commodity with market characteristics
similar to many other commodities, it is still viewed as "different," with a
reaction of price caps.  Staff encourages that basic decisions about the
regulatory model be made in order to complete the transition from a
traditional cost-of-service model to a model that uses markets to price the
commodity and services.

DETAILS  (Also, the reports contain good summaries of the generation,
transmission, state retail, federal reg. and other issues for the region):

Midwest:  The Midwest is dominated by vertically integrated Transmission
Providers ("TPs") that control transmission, generation and load.  "As such,
they have weak economic incentives to provide access to transmission service
to third-parties and strong incentives to favor their own services."  Staff
received numerous complaints; however, due to the lack of information
available from TPs, Staff cannot conclude whether these are isolated
incidents or wide-spread.  At the very least, the complaints indicate a lack
of confidence in the bulk power market and the ability of market participants
to rely on transmission access, thus harming the liquidity of the market.

TLRs are the most important transmission issue in the Midwest, with an
"enormous" increase in 2000.  The region showed a decline in peak load from
1999 to 2000 and a growth in new generation since the 1998 price spikes.
Even though there was an increase in generation and mild weather with
virtually no price spikes, TLRs climbed to record numbers.  The TLRs were
highly concentrated:  only 5 flowgates account for 41% of ECAR TLRs and
another 5 flowgates in MAIN account for 42% in that region.  Notably, even
though the NERC procedures for Level 3 TLRs mandate transaction curtailment,
78 of the 191 TLRs in the Midwest do not show any curtailment amount.  The
total amount of relief that these curtailments are intended to produce are
not posted.  Staff notes that TLR rules are established by NERC, whose
procedures are voluntary and not enforced by penalties.  While the Commission
has required certain NERC standards and procedures to be placed in Open
Access Transmission Tariffs ("OATT") where the Commission has the power to
enforce provisions under the Federal Power Act, in practice the Commission
has generally deferred to NERC on transmission reliability questions,
including the propriety of TLRs.

TLRs inhibit optimal functioning of the transmission system and market
because load is not served by the least cost supplier.  TLR procedure is an
inefficient instrument in mitigating constraints -- curtailment by fiat.  In
addition, the NERC IDC can result in inappropriate curtailments or increased
loading on the affected flowgate.  The impact could be mitigated by one
control area per RTO.

Staff notes that the Midwest state commissions did not petition FERC for
price caps following the 1998 price spikes.  Some market participants believe
that the absence of price spikes is the single reason that NUG construction
increased in the Midwest.

Market participants must keep track of, and follow, a plethora of information
in order to make energy deals, submit reservations and provide schedules for
service.  Staff received many complaints about barriers to transmission
access, including TLR curtailments and a lack of standardized information and
protocols, particularly for ATC and interconnection requests, and
discriminatory conduct.  Unbelievably, key data was unavailable to Staff,
such coincident peak load data, system-wide snap shots for days when TLRs
were called, and import/export data.  This lack of data creates a market
inefficiency, because neither market participants nor regulators can fully
analyze market conditions in real time.  As such, the market is risk adverse,
eschewing long-term deals for short-term transactions.  Staff also noted that
because the Security Coordinators often work for the IOU, there is a mixed
incentive to enforce reliability on the grid and maximize profit for the
IOU.  (Staff cites Richard Tabors' paper, "Transmission Markets, Stretching
the Rules for Fun and Profit.")

Staff cites the lack of information on OASIS or on the NERC web site,
particularly about real time TLRs and curtailments.  Examples were provided
to Staff of transmission refusals when there were no TLRs posted and improper
implementation of TLRs causing substantial financial loss.

The currently proposed Midwest RTOs may mitigate some problems; however, all
three retain existing control areas with the favortism for generation and
native load.  These incentives will continue to remain until the RTO
exercises complete autonomy over transmission control and security
coordinator functions.  Staff notes that the Midwest is a balkanized region
of 61 control areas with no uniform method for calculating ATC and CBM.  The
result is that ATCs can be different on 2 different sides of an interface.
Staff notes examples in inaccurate ATCs and states that Staff's own ATC audit
this summer was consistent with market participant complaints.  Staff is
weighing follow-up options.  The result of these problems is a lack of
liquidity.

Staff next noted the problems with unfiled "business practices," especially
on the next hour market.  Staff's audit of OASIS sites revealed several areas
of non-compliance.

Information transparency is necessary for a market to function efficiently,
with equal and timely access to data, including ATC, CBM, TRM, and load flow
input data.  TPs have incentives to resist efforts to make this information
transparent because of native load.  This incentive will still exist under
RTOs if utilities are allowed to calculate their own ATC.  ***  "As a
consequence, the Commission may wish to eliminate the native load exemption
and have all transactions under the same tariff."  ***  The Commission could
benefit by having access to existing transmission data and should require the
TPs to retain data, including current real-time network status.

Interconnection Issues:  IPPs need to be compensated for VAR support.  Also,
Staff cites a number of Hotline complaints about TPs seeking large deposits
or failing to complete System Impact Studies timely.  One solution is to have
the RTO handle this function to eliminate the disincentive the utilities have
against IPPs.  The current practice of requiring IPPs to deal with a wide
variety of procedures inhibits the free flow of transactions within the
region.

Network service has inherent advantages over point-to-point, citing the
Entergy source and sink order.  The Commission has relied on "passively"
receiving informal and formal complaints to determine if discriminatory
behavior has occurred rather than actively canvassing market participants.
While Staff cannot conclude that discriminatory practices are widespread,
there is evidence of discriminatory instances.

Southeast:  The traditional vertically integrated utility ("VIU") model has
largely persisted in the SE.  This continued control has vastly reduced the
economic incentives to facilitate IPP activities.  In many cases, the VIUs
have dampened IPP involvement without violating any Commission regulation due
to the inherent flexibility of the current rules.

Staff cites examples of delays in performing system impact studies,
transmission hoarding in the name of serving native load growth and
manipulation of ATC.  TPs have shown little inclination to improve the
transmission system and use many TLRs.

There is also a lack of market information that has stymied the development
of markets in the SE.  ATCs change constantly that leads to uncertainty and
there is no clearinghouse for electric power prices.

TVA, despite having taken steps to participate in reformed markets, has acted
as a bulwark against the development of competitive energy markets in the
SE.  This is significant because of TVA's size and location.  IPPs have
reported TVA's discouragement of siting in TVA through excessive time to
perform studies, excessive fees, and rejection of requests to perform
interconnection studies.

In addition, Staff cites the Florida Sup. Ct. decision against merchant
plants as significantly impeding the competitive market in Florida.

Staff discusses the significant flow of power from the Midwest to the SE this
summer.  Much of this resulted from the import of cheaper coal power, than
the use of gas fired peakers due to higher gas prices.  Peak prices were
radically lower this summer because utilities appear to have been better
prepared for peak events through the use of forward contracts, increased
generation capacity on line and reduced number of forced outages.

SE utilities reported that they have not used market-based rates to
extensively increase sales.  (Less used than in the midwest.)

The SE region lacks information, which has retarded the Staff's efforts to
discern the truth about the numerous complaints about transmission in the SE
(including ATC and TLRs).  Market participants seem to have less confidence
in the SE market than in any other market region.  This appears to be
justified based on Staff's investigations.  This lack of confidence
discourages investment and participation in the markets.  Staff concludes
that the Commission may need to be more prescriptive in terms of how
transmission is allocated in the SE RTOs, since there are market concerns
that the incumbents will continue to dominate operations.  The investigation
found numerous problems in bad ATCs and TTCs and poor OASIS postings.  In
addition, several OASIS audit logs actually erased historical data.  Staff
thinks that additional affiliate transaction information should be posted.
Staff could not obtain summer demand data and the Commission's lack of
jurisdiction over TVA made it difficult to obtain transmission access
information.

The Staff investigation revealed unclear interconnection procedures and lack
of adherence to schedules and arbitrary cost estimates and deposits.  In
addition, the TPs have reserved a huge amount of network transmission
capacity, much of it reserved shortly after the IPP approached the TP to
interconnect.  Staff cites the recent Skygen order in which Southern denied
Skygen's request for transmission stating that the only option was the
construction of an 80 mile 500 kv line that would take 8 years to complete.
Staff solutions include allowing network requests by IPPs and limiting
self-build capacity in the incumbent's territory.

ATC variations are a big problem in the SE.  SERC coordination of a
standardized ATC is a long process and may not be resolved soon without
direction from the Commission.  An improved method and improved communication
are needed.

The SE experienced a 354% increase in TLRs this summer.  This increase raises
the issue of whether curtailment has become an impediment to the competitive
operation of the market in the SE.  Staff cites information provided by
Charles Y. that an Ameren TLR was not implemented according to NERC
criteria.  Staff also wonders if transmission is being oversold since TPs do
not generally refund transmission revenues when TLRs are implemented.  RTOs
must have a broad geographic area to internalize much of the constraints.  In
addition, RTOs will adopt pricing mechanisms that obviate recourse to TLRs.
However, if control areas are retained, VIUs will retain mixed incentives.

*** As noted in the Midwest report, the manner in which load is calculated
weighs heavily on the value of this information.  This is an issue that the
formation of RTOs may not resolve.  Eliminating native load exceptions -- ie,
treating all load equally -- and placing all transactions under the same
tariff may be an option that provides the right incentives for the provision
of transparent and standardized information.

Finally, Staff describes specific problems with TVA and FP&L, TVA is a
"problem area" for the Eastern Interconnect grid.  TVA is a transmission
bottleneck due to the many TLRs called this summer.  The current federal law
and lack of Commission jurisdiction are impediments to the development of
deep and robust power markets in this area.  TVA simply has no strong
incentive to provide effective and efficient transmission service.  In
addition, the Commission does not have full information on TVA.  Staff lists
a number of complaints against TVA, including unjustifiably increasing the
tag deadline and allowing TVA Marketing, but not others, to sink and park
power.  Staff concludes that recent proposals by TVA to enhance the
development of markets and its system do not appear to have great potential.

A Staff audit of FP&L revealed violations of standards of conduct, including
confidential information on FP&L's transmission system (including interchange
information for other entities) posted on EMS systems that were available to
FPL's merchant function.  Staff's report found that FP&L does not have an
established procedure for review of EMS to ensure that information is not
displayed in error.  It is "up to individual Managers discretion."  ((FRCC
web site report dated 9/8/00)).  Violations such as these undermine
competition.

The reports are attached below.

 - southeast.pdf
 - midwest.pdf

NORTHEAST SUMMARY

Attached is a summary of FERC Staff,s November 1, 2000 report on its
investigation of the Northeast region.  The report is very encouraging
because it is comprehensive and recommends many of the changes and solutions
that Enron has been advocating for years.  The report is also encouraging
because it indicates a significant level of understanding of the northeast
markets (and the problems in these markets) by the FERC people who worked on
this report.  Because this is only a brief summary, the entire report
(particularly sections 4 and 5) should be read in detail.  A copy of the
report is attached.

Please let us know if you have any questions or comments.

Sarah


Anjam,

Thanks.

Vince

	Enron Capital & Trade Resources Corp. - Europe

	From:  Anjam Ahmad                           08/01/2000 08:22 AM

To: Vince J Kaminski/HOU/ECT@ECT
cc: Kyran Hanks/LON/ECT@ECT, Sadia Haider/LON/ECT@ECT, Margaret
Carson/Corp/Enron@ENRON
Subject: UK Gas Data

Hi Vince,

I only just got forwarded this request - I can deal with the UK Gas data
requirments.

Regards,

Anjam
x35383
---------------------- Forwarded by Kyran Hanks/LON/ECT on 01/08/2000 09:21
---------------------------

Margaret Carson@ENRON
31/07/2000 22:12
To: Vince J Kaminski/HOU/ECT@ECT
cc: Kyran Hanks/LON/ECT@ECT

Subject: Vince Does your group have a Monthly or a Quarterly price history in
nominal terms
for a US onshore Louisiana natural gas price (or a Texas wellhead price ) and
a UK landed beach price for the past 15 years? I am gathering historical data
for Jim O Hara for our Colombia pipeline in South America and these are among
the series of data they are seeking. They would like the data
from a published source in an electronic file if possible.. Their timetable
is by COB Weds this week. Thank you for your help. Margaret


Molly,

My recommendation letter.

Vince

	Enron North America Corp.

	From:  Molly Magee                           06/22/2000 10:39 AM

To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Li Xiao

Vince:  Li has selected you as a reference on her application for a graduate
school tuition loan.  Thanks for taking the time to participate in this
process.

Molly


Good job of staying with this.  Thanks for all your help.  Lynn

 -----Original Message-----
From: 	Forbish, Sherry
Sent:	Thursday, December 27, 2001 3:15 PM
To:	Valley, Lisa; Zadow, Raetta; Carr, James; Barry, Mike; Bodnar, Michael; Threet, Kay
Cc:	Blair, Lynn
Subject:	RE: City of Duluth, #106706

Update:  This morning I visited with Laura Rupp to check on the status of this payment and she reported this was sent 12/21.  This afternoon I received a check from BP Canada in the amount of $5,443.08 which represents payment in full for these PPAs.  This should clear City of Duluth's A/R.

I cannot believe I am so excited about getting money I have no control over!

 -----Original Message-----
From: 	Forbish, Sherry
Sent:	Monday, December 17, 2001 9:18 AM
To:	Valley, Lisa; Zadow, Raetta; Carr, James; Barry, Mike
Cc:	Blair, Lynn
Subject:	City of Duluth, #106706

Just heard from Kurt -- he signed off on these a couple of weeks ago, and Sandy King advises these are set to be paid with the next run (12/23) SO, it appears we will be able to clear these invoices with no difficulty.

Nice way to start a Monday!

 -----Original Message-----
From: 	Forbish, Sherry
Sent:	Friday, December 14, 2001 1:47 PM
To:	Valley, Lisa
Cc:	Zadow, Raetta; Carr, James
Subject:	City of Duluth, #106706

Lisa, per our telecon this morning, I left a voicemail for Kurt Batenhorst (BP Canada) to determine the status of the payments for the PPAs for December 2000 through April 2001.  Kurt is in Calgary this week and will be returning to the office on Monday, the 17th.

Will update as soon as I talk to him on Monday.  The total is $5,443.08.


Will do.

Best,
Jeff

	David W Delainey@EES
	07/06/2001 02:58 PM

		 To: Jeff Dasovich/NA/Enron@Enron
		 cc: Richard Shapiro/NA/Enron@Enron
		 Subject: California Update--Legislative Push Underway

Jeff, I would recommend forwarding these to myself, Lavorato, Dietrich,
Kitchen and Whalley in the future.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/EES on 07/06/2001
02:57 PM ---------------------------

Jeremy Blachman
07/06/2001 02:12 PM
To: David W Delainey/HOU/EES, Janet R Dietrich/HOU/EES, Vicki Sharp/HOU/EES
cc:
Subject: California Update--Legislative Push Underway

Think it would be extremely helpful to have Jeff and/or Jim Steffes update us
on Monday. I will set-up if you don't already have something going.
---------------------- Forwarded by Jeremy Blachman/HOU/EES on 07/06/2001
02:11 PM ---------------------------
From: Jeff Dasovich@ENRON on 07/06/2001 01:16 PM
Sent by: Jeff Dasovich@ENRON
To: skean@enron.com, Richard Shapiro/NA/Enron@Enron, Wanda
Curry/Enron@EnronXGate, Donald M Black/Enron@EnronXGate, Susan J
Mara/NA/Enron@ENRON, Harry Kingerski/NA/Enron@Enron, Tim
Belden/Enron@EnronXGate, Vicki Sharp/HOU/EES@EES, Jeremy
Blachman/HOU/EES@EES, Phillip K Allen/Enron@EnronXGate, Alan
Comnes/Enron@EnronXGate, Linda Robertson/NA/Enron@ENRON, Mike D
Smith/HOU/EES@EES, Michael Tribolet/ENRON@enronXgate, Kristin
Walsh/Enron@EnronXGate, Christopher F Calger/Enron@EnronXGate
cc:
Subject: California Update--Legislative Push Underway

Hertzberg (speaker of the CA Assembly) called a meeting yesterday afternoon
of the group of market participants that have been negotiating the
"core/noncore" proposal in California.  The purpose of the meeting was to
brief us on their activities and their gameplan for trying to find a solution
for California.  Here's a summary of the meeting.  Please keep confidential.

Work will be done over the weekend to put the core/noncore proposal in
legislative language.  (We will be in the room.)
Work done by the "Plan B" group in the Assembly (Joe Dutra and Joe Nation)
will also be put into legislative language over the weekend.
Because no proposal is "comprehensive," a complete legislative package will
be created from the various pieces that have been worked on thus far (i.e.,
core/noncore, "Plan B," Edison MOU)
In addition, there are Republican demands that Hertzberg will need to address
(e.g., end the litigation) in order to achieve bi-partison support, which is
what Hertzberg's shooting for.
To move the legislation, the plan is to establish a "conference committee,"
comprised of an equal number of Democrats and Republicans.
The committe would begin work on Monday and would attempt to finish putting a
comprehensive bill together, vote it out of the Legislature and send it to
the Governor for signing by Monday, July 16th.
July 16th is the deadline because that is the date that the PUC will issue
its proposed decision regarding, among other things, how DWR's revenue
requirement will be put into rates, whether Direct Access needs to be
suspended, etc.
The PUC is issuing the draft on the 16th in order to give everyone 30 days to
review and comment before the Commission votes on a final order on August
15th.  (The PUC will actually issue a "thought piece" on Monday the 9th and
will use reactions to the "thought piece" to craft the develop the proposed
decision it plans to issue on the 16th.)
All of this is still up in the air, however.  As of right now, the leader of
the Senate (Burton) has not agreed to Hertzberg's gameplan and the
Republicans, while interested, have not yet committed to join the process.


Entergy has joined the SE Trans RTO (Southern, etal).  I will review the FERC filing; however, an Entergy rep called me today to ask for Enron's support stating that the new RTO proposal includes:

-- Independent Market Operator (he said such as PJM)
-- No Day Ahead Balanced Schedules
-- LMP
-- One OASIS and one Tariff (no separate tariff for Entergy's ITC)
-- One Security Coordinator
-- Initial license plate rate within Entergy area
-- local planning in Entergy footprint

He also said that they are trying to have the GridSouth group agree to use the same Independent Market Operator so there would be one market structure for the Southeast.

Hopefully, the filing reflects this -- more later.  Christi

-----Original Message-----
From: Connor, Joe
Sent: Monday, November 26, 2001 1:51 PM
To: Nicolay, Christi L.
Cc: Staines, Dan; Nord, Sue; Robinson, Marchris
Subject: SeTrans Update

Attached is an announcement on SeTrans adding Entergy as a member and setting dates for meeting in Atlanta in Jan. 2002 to form stakeholder group.  I haven't seen the update they provided to FERC.  I'll find it and get you a copy.


Tom has informed me that we will not be working on Monday, January 15th for
Martin Luther King Day.  It is both an Enron Holiday and a NYMEX Holiday, so
have a nice, 3-day weekend!

Laura


We need to run regression on this load profile for Palo Alto.  We should back
out the industrial class and run their residential load.  Can you find
reliable weather for Palo Alto?  Kim Ward is signing a full requirements deal
with Palo on PG&E.

Thanks,
Mike
---------------------- Forwarded by Mike Grigsby/HOU/ECT on 05/03/2001 09:34
PM ---------------------------
From: Kim Ward/ENRON@enronXgate on 04/30/2001 05:34 PM
To: Mike Grigsby/HOU/ECT@ECT
cc:
Subject: Palo Alto load information

Let me know if you need anything else or if you have any questions.

Thanks,

Kim Ward


Dear Jeff,

I hope this note finds you well. I look forward to meeting you live soon.
Partha Ghosh and his team is working with your troops on a palatable offer
to AT&T re your $650M network assets.
I think we are getting close to a construct Dave Dorman will consider.
Please don't read anything into the 2 postponed meeetings, they are very
busy with Board related issues, being resolved soon.

On a separate matter, from time to time, I host dinners with various
industry leaders to focus on major issues.
The next one is Monday July 23rd. in Manhattan, 7PM.

In attendance will be:

Dr. Henry Kissinger (with whom ADVENTIS works closely)
Dave Dorman, President, AT&T
Gary Weis, President, Concert
Micheal Sabia, President, Bell Canada Enterprises
John Adams, CFO, AT&T
	and probably:
Pierre Danon, President, BT Retail,
Red Wilson, Chairman, Nortel

Jeff, would you like to join us ?

Please let me know.

Mark Bruneau
President and CEO
ADVENTIS
Tel. 617-421-9990 X 223


Note:  Good update on U.S. and Canadian supply trends.

-----Original Message-----
From: CERA Webmaster [mailto:webmaster@CERA.com]
Sent: Wednesday, July 18, 2001 11:19 AM
To: Insights
Subject: North American Gas Productive Capacity Is Expanding - CERA Decision Brief

Title: Natural Gas Productive Capacity Outlook in North America--How Fast Can It Grow?
URL(s):
<http://www20.cera.com/eprofile?u=35&m=2564>
***********************************************************************

NORTH AMERICAN GAS PRODUCTIVE CAPACITY IS EXPANDING

The effect of record gas-related drilling is becoming increasingly evident in
both the United States and Canada. Key themes explored in this Decision Brief
include

*  the extent of the rebound in the US lower-48 and Canadian gas supply

*  the outlook for US lower-48 and Canadian supply to 2005

*  underlying trends likely to constrain production growth

*  the sources of new supply

*  uncertainties in the outlook through 2005: upside potential and downside
threats

*  possible effect of the decline in gas prices

**end**

Follow above URL for complete CERA Decision Brief (20 printed pages).

E-mail Category: Decision Brief
CERA Knowledge Area(s): North American Gas

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

To make changes to your cera.com profile go to:
<http://www20.cera.com/client/updateaccount>

Forgot your username and password? Go to:
<http://www20.cera.com/client/forgot>

This electronic message and attachments, if any, contain information
from Cambridge Energy Research Associates, Inc. (CERA) which is
confidential and may be privileged. Unauthorized disclosure, copying,
distribution or use of the contents of this message or any attachments,
in whole or in part, is strictly prohibited.
Terms of Use: <http://www20.cera.com/tos>
Questions/Comments: webmaster@cera.com
Copyright 2001. Cambridge Energy Research Associates


Thats weird, my computer just deleted the recipients from the email below.
I'll try again--do you guys still work here?  DF

	From:  Drew Fossum                           01/25/2000 01:02 PM

To:
cc: Susan Scott/ET&S/Enron@ENRON, David Foti/ET&S/Enron@ENRON, Martha
Benner/ET&S/Enron@ENRON

Subject: Transwestern Contracts

You guys probably don't remember this (I didn't until I checked the file) but
there were a couple of exhibits to the Transwestern Gallup contracts that we
left to be attached to the final contracts after execution.  My recollection
is that we were in such a hurry to get the Compression Service Agreement
signed and sent to FERC that we left a couple of these things to do later.
Now that we have the FERC order, I want to get these contracts off my desk
and off to Corporate Records or whereever original contracts go to die.   On
my originals, I'm missing Exhibit B to the CSA (which is the CDEC Rate
Schedule No. 21),  and Exhibits A and C to the O&M Agreement.

Susan, please coordinate with Gerald to get these exhibits in our respective
files and we can send these contracts off to the central rathole and be done
with it.  Thanks to you all.  DF


Thanks for your help.

-----Original Message-----
From: Jones, Paul J.
Sent: Wednesday, November 21, 2001 2:36 AM
To: Cooper, Edmund; Boyd, Justin; Shacklock, Joanna; Panus, Stephanie
Subject: RE: Carr Futures

-----Original Message-----
From: Cooper, Edmund
Sent: 20 November 2001 18:03
To: Boyd, Justin; Jones, Paul J.; Shacklock, Joanna
Subject: RE: Carr Futures

There is a later one signed in 2000.

-----Original Message-----
From: Boyd, Justin
Sent: 20 November 2001 17:56
To: Panus, Stephanie
Cc: Cooper, Edmund
Subject: FW: Carr Futures

stephanie

plse see below link

justin

-----Original Message-----
From: Jones, Paul J.
Sent: 20 November 2001 17:51
To: Boyd, Justin
Subject: RE: Carr Futures

http://livelinkeu.corp.enron.com/LiveLink/LiveLink.exe/81410046.pdf?func=doc.Fetch&nodeId=318129&docTitle=81410046%2Epdf&vernum=1

I think this is it
P

-----Original Message-----
From: Boyd, Justin
Sent: 20 November 2001 17:48
To: Jones, Paul J.
Subject: FW: Carr Futures

paul

could you try and look for this - probably done in 97/98?

thanks

justin

-----Original Message-----
From: Panus, Stephanie
Sent: 20 November 2001 15:58
To: Boyd, Justin; Cooper, Edmund
Subject: FW: Carr Futures

Justin/Edmond,
We need to prepare an Enron Corp. Guaranty for Carr Futures.  I have been told that ECTRIC has a futures agreement with Carr.  Can someone in your office verify this and let me know the date of the agreement?

Stephanie Panus
Senior Legal Specialist
Enron Wholesale Services
1400 Smith Street, EB3803C
Houston, Texas  77002
ph:  713.345.3249
fax:  713.646.3490
email:  stephanie.panus@enron.com

-----Original Message-----
From: Shackleton, Sara
Sent: Monday, November 19, 2001 5:42 PM
To: Panus, Stephanie
Subject: FW: Carr Futures

Stephanie:

Scroll all the way down to Sheila's original message for contact person and the two Enron companies being guaranteed.  You will need to verify with London that ECTRIC has a futures agreement with Carr (maybe you can get a copy of it for our records).  Can you prepare a draft guaranty and ask Tanya for a cap.  Thanks.  Sara

-----Original Message-----
From: Glover, Sheila
Sent: Monday, November 19, 2001 5:33 PM
To: Rohauer, Tanya; Shackleton, Sara
Subject: RE: Carr Futures

Pls see me original e-mail below.
sg

-----Original Message-----
From: Rohauer, Tanya
Sent: Monday, November 19, 2001 5:24 PM
To: Shackleton, Sara; Glover, Sheila
Subject: FW: Carr Futures

I assume the parties are  ENA and ECTRIC with Carr Futures, Inc. I do not have any information about this though nor do I have a contact.  Sheila can you provide this information to Sara?

-----Original Message-----
From: Shackleton, Sara
Sent: Monday, November 19, 2001 4:37 PM
To: Rohauer, Tanya
Cc: Panus, Stephanie
Subject: FW: Carr Futures

Tanya:  Just let us know the parties and guaranty cap.  I am not familiary with any Carr arrangements other than the ENA futures agreement.  Also, do you have a contact at Carr?

Thanks.  Sara

-----Original Message-----
From: Kitchen, Louise
Sent: Monday, November 19, 2001 2:42 PM
To: Rohauer, Tanya; Shackleton, Sara; Bradford, William S.
Subject: RE: Carr Futures

No objections

-----Original Message-----
From: Rohauer, Tanya
Sent: Monday, November 19, 2001 12:51 PM
To: Shackleton, Sara; Bradford, William S.; Kitchen, Louise
Subject: FW: Carr Futures
Importance: High

Are there any objections to issuing the gty? We just did the same thing last week for FIMAT Issuing seems the simplest rather than having to stop trading, although traditionally we have not issued corp gtys.  Please advise.

Tanya

-----Original Message-----
From: Glover, Sheila
Sent: Monday, November 19, 2001 11:28 AM
To: Rohauer, Tanya
Cc: Su, Ellen
Subject: Carr Futures
Importance: High

Tanya,
I received a call from Carr Futures this morning.  Their parent, Cr?dit Agricole Indosuez, is requesting a parent guanantee to continue trading with Enron North America Corp. and Enron Capital and Trade Resources International.

I spoke with Gary this morning and he said that we could stop trading with them.  I said that others do trade with Carr.  He suggested then that the energy guys can proceed if they wish to continue trading with Carr.

Rick Farina, 312-441-4420, called me with Larry Anderson and Patty Chambers.

How do you want to proceed?

Sheila


Please review the attached I added some language at the end of the intrastate
warranty.  To the extent this warranty gets changed, we will have to change
the warranty in the gathering agreement.


Baby, I'm going to San Francisco on Aug 14?(Sunday) returning Wednesday.
Wanna go??


sounds good.

	rrrose@aep.com
	06/07/2001 12:34 PM

		 To: dan.j.hyvl@enron.com
		 cc:
		 Subject: City of Houston - Reimbursement Agreement

Senior Hyvl,

Does the following correspond to your voice mail message from
last Friday?  I believe that I was able to follow it pretty closely.

HPL,  ON  BEHALF  OF ITS OFFICERS, AGENTS, BONDING COMPANIES, EMPLOYEES AND
ANY  OTHER  PARTY  EMPLOYED  OR  CONTRACTED  BY  HPL  TO PERFORM UNDER THIS
AGREEMENT  (COLLECTIVELY  REFERRED  TO IN THIS SECTION AS "HPL"), COVENANTS
AND  WARRANTS THAT IT WILL PROTECT, DEFEND, AND HOLD HARMLESS THE CITY, ITS
EMPLOYEES, OFFICERS, AND LEGAL REPRESENTATIVES (COLLECTIVELY REFERRED TO IN
THIS  SECTION  AS THE "CITY") FROM ANY AND ALL THIRD PARTY CLAIMS, DEMANDS,
AND  LIABILITY,  INCLUDING  DEFENSE  COSTS, RELATING IN ANY WAY TO DAMAGES,
CLAIMS  OR  FINES  ARISING  BY  REASON  OF OR IN CONNECTION WITH HPL'S SOLE
NEGLIGENCE OR OTHER ACTIONABLE PERFORMANCE OR OMISSION OF HPL IN CONNECTION
WITH  OR  DURING THE PERFORMANCE OF THE DUTIES UNDER THIS AGREEMENT, EXCEPT
TO  THE  EXTENT  THAT  SUCH  CLAIMS, DEMANDS, OR LIABILITY RESULTS FROM THE
GROSS NEGLIGENCE OR WILLFUL MISCONDUCT OF THE CITY, ITS CONTRACTORS, AGENTS
OR ASSIGNS.

As usual,

THANKS FOR YOUR HELP!!!

r


Mark:

Credit has asked us to pursue trading arrangements on behalf of Enovate.

At least for the short term, Mark Haedicke told Kay Mann that ENA legal
should handle Enovate legal work.  That work currently consists of
establishing documentation for financial trading with third parties.  It is
not clear what lawyers (ENA or Peoples) will draft/negotiate ISDA masters nor
have any forms been agreed (but Peoples' lawyers have seen our forms and I
have seen their forms which are poorly drafted).  Bill Bradford will have the
final word on Enovate credit.

Credit has asked us to track Enovate masters on our Lotus Notes database.

Do you need to follow up with Mark about us negotiating Enovate's master
agreements?  Or should we just handle as any other project?

Sara


Thanks.  I have minor, but substantive, edits to the direct access section
that Dorothy did, which I believe more accurately capture the document that
we previously delivered to Hertzberg and the discussions around that
document.  My proposed edits will be distributed to everyone within the next
30-60 minutes.  Thanks to Delaney for all the work.

Best,
Jeff


- 10_29_01LO.xls


i think part of the problem is only physical jobs are available at enron
running your own book is something they just dont hire outside the office
very often.
of course this is the gas side only


<http://mail.enron.com/exchweb/img/tool-send.gif>

If you are participating in the Bowl Pool, copies of the pool can be picked up in front of the trading reception desk.

Good Luck!


Thanks for your vote of confidence.  I don't think that it is out of the
realm of possibility.  As we know with all Enron reorg's, what we can count
on is that this will change!

We'll miss Delainey in Enron Americas, but as a shareholder I am glad that he
will be at EES.  Have already had some discussions with him about some
involvement there.  I will keep you posted.  --Sally

From:  Cassandra Schultz @ ENRON
               02/08/2001 08:01 AM

To: Sally Beck
cc:
Subject: Organizational Changes

Sally -
When I heard the rumour this week about Louise Kitchen transferring out of
Networks, I was hoping they'd say you were moving to the Office of the Chair
at Networks!  Do you think a non-commercial MD will ever make it to Office of
Chair?  If anyone can, you'll do it.

Cassandra.
---------------------- Forwarded by Cassandra Schultz/NA/Enron on 02/08/2001
07:54 AM ---------------------------

	From:  Ken Lay and Jeff Skilling                           02/07/2001 07:23 PM

Sent by: Ken Lay and Jeff Skilling
To: All Enron Worldwide
cc:

Subject: Organizational Changes

Enron is forming a new organization - - the Enron Xcelerator - - to drive the
formation and development of new businesses at Enron.  Enron's unique ability
to start and develop new businesses has driven most of our growth over the
years.  Lou L. Pai, currently Chairman and CEO of Enron Energy Services, will
lead the Xcelerator.  Over his years at Enron, Lou has been key to the
creation and rapid growth of our wholesale gas, wholesale power and energy
service businesses.  The existing business units will continue their
development of core businesses, while the Xcelerator will be responsible for
developing new business opportunities that are natural extensions of Enron's
business model and core skills, but not currently under development elsewhere
in Enron.

Dave Delainey, currently President and CEO of Enron Americas, will become
Chairman and CEO of Enron Energy Services.  Dave brings a wealth of
experience and accomplishment from Enron Wholesale Services' businesses where
he led the growth of our Canadian business and our North American origination
activity and, most recently, had a great year in Enron Americas.

Dave is forming an Office of the Chairman in EES.  Joining Dave in the Office
of the Chairman are Dan Leff, President of EES, Global Energy Services, and
Marty Sunde, President of EES, Global Marketing and Services.  Dan and Marty
have been instrumental in the development and execution of the successful EES
business model.  Also joining the Office of the Chairman of EES is Janet
Dietrich as Chief Operating Officer.  Janet, currently is Managing Director
in Enron Americas, where she has been successful in many of Enron Wholesale's
core businesses, including gas trading, risk management and structural
origination.  Tom White will continue as Vice Chairman of EES and will focus
on the development and expansion of EES' customer relationships.  Lou, Tom,
Dan, Marty and the entire EES organization have developed a great business
model with great growth prospects.  EES has become an essential part of
Enron's market valuation and growth story.  This new leadership structure
will enable EES to continue on its path of sustained growth and increasing
profitability.

John Lavorato will succeed Dave as President and CEO of Enron Americas.  John
has been an essential part of Enron's energy trading success over the years
and is a key part of Enron Wholesale Services' continuing success story.
Joining John is Louise Kitchen, currently President and CEO of Enron
NetWorks.  Louise, who accelerated Enron's outstanding growth with the
deployment of EnronOnline, will take over as Chief Operating Officer of Enron
Americas.

Philippe Bibi, currently Chief Operating Officer of Enron NetWorks will take
over as President and CEO of Enron NetWorks.  Under Philippe's leadership,
Enron has become a technology leader and the leading e-commerce company.
Joining Philippe as Chief Operating Officer is Greg Piper, currently Managing
Director of Enron NetWorks.  Greg currently leads Enron NetWork's origination
activity and was responsible for the creation and deployment of ClickPaper,
Enron's successful online pulp and paper marketplace.

Please join us in congratulating all of these individuals on their
achievements and their new responsibilities.


Good, valid points.  I think that I agree that we should not have a tour
strictly for "control" purposes.  Ted, how do you feel about the concept of a
general business tour on an annual basis that would touch on, but not solely
focus on controls?

	From:  Ted Murphy @ ECT                           02/11/2000 11:57 AM

To: Rick Buy, Richard Causey/Corp/Enron@ENRON
cc: Sally Beck/HOU/ECT@ECT

Subject: R-squared World Tour

Dear R2:?I would like you to consider the following in determining the appropriate ?course of action in your mission to ensure that all our offices have process, ?procedures and policies to adequately support the business activities:??  I believe that your going on a series of trips is precisely the wrong ?approach and not only do I think it will be relatively unproductive (as ?compared to your tremendous productivity at home base) but I honestly believe ?it will be counterproductive. Here's why:??   1) While you guys are on a plane or in a remote office, you will be less ?in touch and available to make decisions at home?   2) When you are preparing to go and de-compressing from having been, you ?will be distracted, tired and attempting to catch up to all your     other ?duties.?   3) There are only two of you and many of them.?   4) Please don't take this the wrong way, but I question whether you even ?are the best qualified from a skill perspective (Kevin Sweeney,     Vlady ?Gorny, John Vickers, et al might be the best to dig into the details)?   5) When you guys are the face, it means the rest of us are not.  This ?means that our presence and authority, which will be required on ?    an on-going basis in order for this to have lasting effect, will be ?completely undermined.   Senior people need to know that if a ?    Sweeney, Murphy, Hardy,  etc walks into their office and finds something ?not right, that it will be communicated up the line with     reprecussions.  ?If you were to investigate anonomously, I believe that a universal theme is ?that stuff gets pointed out and nothing     ever gets changed.  It puts those ?in the position of knowing on the defensive and sounding shrill.??My suggestions is that you stay home.  Sally, AA myself and others should ?develop a template for consistent analysis of the offices and a plan to ?maintain an on-going pressure and results.  Part of that plan would be a ?requirement to report to you guys the findings and recommendations in a ?concise way  with you following up to the heads of those offices about what, ?if anything, needs to change as quickly as possible after the review.    ??The most important things you can do will be to pave the way for our ?departure, be available to assimilate the findings and be prepared to ?follow-up.  Everyone already knows that they need to respect your wishes.  ?They need to know (as do we) that we have your support and you will respect ?and act on our recommendations.  ??Thank you for indulging me.  I am afraid that I am correct.?Ted??


Jeff says Floating Price language is ok.  SS
---------------------- Forwarded by Sara Shackleton/HOU/ECT on 07/22/99 02:40
PM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  Jeff Harbert                           07/21/99 06:28 PM

To: Sara Shackleton/HOU/ECT@ECT
cc: Dale Neuner/HOU/ECT@ECT
Subject: Re: Merita

From the contract specification documentation provided by the OM to us I
would say that for the "pulpex futures contract", reference to the term
"Daily Settlement Price" is the same as reference to "daily closing price" or
"last traded price" for the Pulpex Futures Contract after reading contract
specification section 2.1.13 of their documentation.  The OM simply defines
it as the last traded price on each business day.  However, "Daily Settlment
Price" for the pulpex options contract per contract specification 2.2.6
defines it as the mid price of the closing bid and offer price.
Give me your fax number and I'll send the documentation to you for review.

That being said I think your floating price language is OK and we should move
forward in order to close the books on this one.

Thanks for your help.

JH.

Sara Shackleton
07/16/99 09:36 AM
To: Jeff Harbert/HOU/ECT@ECT
cc:
Subject: Merita

Please review and let's talk.  Thanks.  SS


----- Forwarded by Colleen Koenig/NA/Enron on 12/13/2000 04:18 PM -----

	Michael Horning@ENRON COMMUNICATIONS
	12/13/2000 04:03 PM

		 To: Stewart Seeligson/Enron Communications@Enron Communications
		 cc: David Cox/Enron Communications@Enron Communications, Edward
Ondarza/Enron Communications@Enron Communications, Colleen
Koenig/NA/Enron@ENRON
		 Subject: Universal (JPI) sponsorship

Stewart,

Per our phone conversation, Universal is looking for sponsorship funds to
grow JPI (Jurassic Park Institute).

Enron Media has an opportunity (perhaps) to provide advertising risk
management services beyond their Motion Picture Group, to their Music, Home
Video and Recreation Groups.

There may be an opportunity for EBS to provide bandwidth in lieu of
sponsorship dollars or some other type of arrangement.

I am trying to reschedule my meeting with their motion picture advertising
team for the second week in January, so I'll stay in touch to see if you
develop an opportunity through their global sourcing group.

Regards,

Michael P. Horning
Director
Enron Media Services
Global Media Risk Management
Phone: 713-853-9181
Fax:      713-646-8436
Cell:      713-303-0742
----- Forwarded by Michael Horning/Enron Communications on 12/14/00 04:04 AM
-----

	Colleen Koenig@ENRON
	12/12/00 06:07 PM

		 To: Michael Horning/Enron Communications@Enron Communications
		 cc: Jennifer Medcalf/NA/Enron@Enron
		 Subject: Universal (JPI) sponsorship

Mike,
In reference to our conversation today, attached is further information on
the Universal sponsorship and Enron-Universal business opportunities.

Jurassic Park Institute- A dinosaur-based educational/entertainment resource
targeting children/families.
Sponsorship's Four Components:
JPI Virtual Institute - Global online program (March, 2001)
JPI In-school Program - Grade-specific curriculum (August, 2002)
JPI Museum Tour - Cross-country tour (TBD)
JPI Headquarters - To be located in Universal Hollywood and Japan (2002)

Sponsorship donations begin at $250K and this could be divided among multiple
business units.

Enron Opportunities with Universal:
EBS - Content for Blockbuster
EMS
Enron Weather
Enron Credit
Enron Plastics & Petrochemicals

Colleen Koenig
Analyst, Enron Corp
Global Strategic Sourcing, Business Development
713.345.5326


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Probex Successfully Closes on $12.5 Million Financing

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Briefing.com Expands Content Agreement with Yahoo!; Real-time Market
Analysis Now Available on Yahoo! Finance

BURLINGAME, Calif., Dec 13, 2000 (BUSINESS WIRE) -- Briefing.com
(http://www.briefing.com) today announced an expanded agreement with Yahoo!
Inc., a leading global Internet communications, commerce and media company, to
provide additional content on Yahoo!(R)Finance (http://finance.yahoo.com),
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Under the agreement, Briefing.com is providing real-time Market updates
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The new content compliments the Briefing.com "intra day" analysis previously
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company stocks, which are updated three times per day by recommendations from
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"Expanding our relationship with Yahoo! to provide real-time market commentary
on Yahoo! Finance is a natural step in our relationship," said David Beasley,
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"We're pleased to expand our relationship with Briefing.com," said Tim
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About Briefing.com

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The change to the DPR will occur on the 14th, not on the 13th as previously
communicated.

Best regards

Shona Wilson
X39123

	From:  David Maxwell @ ECT                           11/13/2000 03:24 PM

To: Chris Abel/HOU/ECT@ECT, Michael Benien/Corp/Enron@ENRON
cc: Shona Wilson/NA/Enron@Enron, Michael S Galvan/HOU/ECT@ECT, Andrea V
Reed/HOU/ECT@ECT, Mark E Lindsey/GPGFIN/Enron@ENRON, Sally Beck/HOU/ECT@ECT,
Maria LeBeau/HOU/ECT@ECT, L'Sheryl Hudson/HOU/ECT@ECT, Ted
Murphy/HOU/ECT@ECT, David Port/Market Risk/Corp/Enron@ENRON

Subject: Enron Raptor I P&L Reversal

 On the 11/13/00 MPR, we will be offsetting $163,337,947 of YTD P&L loss
associated with the Raptor I hedge.  This P&L has been accumulating since
Project Raptor was created using 8/3/00 asset balances.  On the MPR, we have
been showing the daily marking of the Raptor assets to the screen but have
not been showing the corresponding hedge offset.  The amounts have been
flashed by ENA with the hedge offset included.

 This change will show up on the 11/13/00 DPR.

 If you have any questions regarding this matter, please contact either Susie
Ayala at x3-0524 or myself at x3-6983 by 10:00 a.m. on Tuesday, 11/14/00.

 Thank you,
 David Maxwell


---------------------- Forwarded by Ami Chokshi/Corp/Enron on 06/01/2000
05:03 PM ---------------------------

"Steve Holmes" <Steve.Holmes@dvn.com> on 06/01/2000 04:15:11 PM
To: <Ami.Chokshi@enron.com>
cc:

Subject: Carthage (American Central) Nomination

Chad called and said you guys are requestiing approximately 74,000 MMBtu
effective June 1.  I show the number should be 72,240 MMBtu/d.  Could you
please check into this and let me know what's going on?

Thanks,
Steve


FYI; I forgot to cc you!  Michelle

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

Michelle Cash
Enron North America Corp.
1400 Smith Street, EB 3823
Houston, Texas  77002
(713) 853-6401
michelle.cash@enron.com

This message may contain confidential information that is protected by the
attorney-client and/or work product privileges.
----- Forwarded by Michelle Cash/HOU/ECT on 06/28/2000 10:07 AM -----

	Michelle Cash
	06/28/2000 10:04 AM

		 To: "wpcashjr" <wpcashjr@email.msn.com>@ENRON
		 cc: Michelle.Cash@enron.com
		 Subject: Re: Xmas

Thanks for the description.  Last night, I asked Trey about it, and we went
onto Amazon.com to look at it.  It looks like a cool toy that Cameron would
enjoy.  FYI:  the price at Amazon was way less than the price at etoys.  As a
matter of fact, I told Trey that it would be great to have it for our trip to
DC in August!  But, we can wait til Christmas, so go ahead with your plans.

Congrats on the furniture.  I am sure that you will be happy with it and will
love the new look.

See ya.  Michelle

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

Michelle Cash
Enron North America Corp.
1400 Smith Street, EB 3823
Houston, Texas  77002
(713) 853-6401
michelle.cash@enron.com

This message may contain confidential information that is protected by the
attorney-client and/or work product privileges.

	"wpcashjr" <wpcashjr@email.msn.com>
	06/27/2000 09:11 PM

		 To: <Michelle.Cash@enron.com>
		 cc:
		 Subject: Re: Xmas

Leap pad looks like an open book when placed in a child's lap.  There is an
attached pen type instrument which the child can use to point to various
things on the pages and also to indicate whether he/she would like the word
to be pronounced, spelled or sounded.  It comes with a book but other books
can be purchased to be placed in the pad.  That's the best description I can
give since I have never used one.  Check it out when you go to the toy
store.  Good news - several pieces of our living/dining  room furniture are
being delivered tomorrow with all new coordinated materials!  Happy art
looking.  It is fun to look for things to brighten up a room.  G


The ClickAtHome team is pleased to announce that Pilot participants may now
order Internet service from MSN.  MSN offers DSL (Broadband) and Dial-up (56k
modem) nationwide.  To check the availability of service at your address,
view prices or to place your order, visit the ClickAtHome Pilot website at:
http://clickathomepilot.enron.com/    (the website must be launched through
Internet Explorer).

MSN's Broadband Satellite is expected to be available in mid 2001.  This
cutting edge 2-way satellite technology will provide broadband service to
most of the United States (excluding Alaska and Hawaii).

If you have problems launching the site, please copy and paste
http://clickathomepilot.enron.com directly into Internet Explorer.

ClickAtHome Team!


Vince:

    I forgot to attach the Final SLAM Report, The File of the White Paper,
The White Paper Calculations.  The Final SLAM Report discusses the
availability of Service Level Agreement Monitoring, and NMS generally that
meet EBS's needs.

    I am convinced that at a minimum EBS would gain the foundation of a great
NMS that will be critical to the success of EBS, and that EBS could actually
gain the Distributed Machine Tool that could be the foundation of the
Internet of the 21st Century.  I hope we get the chance to prove this.

    Let me know if I can be of further assistance.

    MAK

 - FINAL S L A M  REPORT SEPTEMBER 1999.ZIP


Update - we had a good session today to continue to resolve open issues.  One
thing that resulted is to have a meeting with management to discuss, among
other things, management's tranfer plan  for the assets, interim operations
between signing and closing, operating entities that Enron could be deemed to
control, disputes with EE&CC, and the purchase and sale agreement and the
related disclosure schedules.  I believe that the meeting is being set up for
Wednesday.  I can see how it is imperative that the General Counsels be at
the meeting, although I am sure I do not control the invitation list.  You
may want to talk to your business heads.  With this schedule, we are to have
a good set of disclosure schedules by that date.  The latest plan
contemplates circulation of the revised purchase and sale agreement and draft
disclosure schedules by Monday night.  Tuesday would be a day for questions
in advance of Wednesday's meeting.  Attached is a draft of known open issues
with EE&CC.   Thanks for all the help.  Lance.


Here's a set of CA I revised docs.  If these are ok, we will get CA II lined
up as well.

I'm on the road tomorrow, but should be back in the office on Wednesday am.

Kay


In anticipation of re-opening, you have an opportunity to pre-select your new
locker location.  All active Body Shop members who had a permanent locker at
the time of the September 1st construction close have been given first
consideration when selecting their new locker location before December 29th.
 Priority will be given to member's original locker location (i.e. a member
who requests their original locker area will be given priority for that
space).  After this date lockers will be distributed to members on the
waiting list and to member's with permanent lockers who request a different
space from their original locker area.   For your convenience, a Body Shop
enrolment and locker request table will be in the lobby from December 18th
through January 5th between the hours of 11am - 1:30pm.

Follow these simple steps to secure your locker location:
Open and review the attached Men's Locker Design template.
Select your 1st, 2nd, and 3rd choice location preference.
Complete the Locker Selection Request Form.
Complete and Sign the Locker Payroll Deduction Form.
Return all completed forms before December 29th to the Body Shop at EB1355,
drop off at our offices on EB1372 or at the Body Shop Table in the lobby from
December 18th through January 5th between the hours of 11am - 1:30pm.

You will receive an e-mail notifying you of your new locker location and
locker combination prior to re-opening.  If you have any questions, please
contact Noel Ryan at  x35548.


Autobytel.com Customer Satisfaction Survey
TO         : Kevin Hyatt
E-MAIL     : kevin.hyatt@enron.com
CUSTOMER # : 3563493
FROM       : survey@autobytel.com
SUBJECT    : Autobytel.com Customer Satisfaction Survey
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Dear Kevin,

Your satisfaction is important to us, so we've developed a survey to evaluate and improve our program. By answering our Customer Satisfaction Survey, you will help us improve the Autobytel.com online shopping experience.

Click here to begin the survey:

     http://www.autobytel.com/survey/index.cfm?pr_num=9648078

Customer surveys are a powerful tool we use to evaluate and improve our program. By answering our Customer Satisfaction Survey, you will help us improve the Autobytel.com online shopping experience.

Your confirmation number is: 9648078.
This request was for a 2002 Dodge Ram, and was sent to Goodson Dodge.

Some web-based e-mail readers will not properly load this page if you
click on the above link.  If you experience errors, please copy the link and
paste it into your browser's address bar.

Thank you for using Autobytel.com.

Sincerely,

Jeffrey Schwartz,
President & Chief Executive Officer, Autobytel.com


---------------------- Forwarded by Mark Taylor/HOU/ECT on 01/24/2000 08:29
AM ---------------------------

Louise Kitchen
01/24/2000 07:56 AM
To: Gene Diers/Corp/Enron@ENRON, Mark Taylor/HOU/ECT@ECT
cc:
Subject: Re: check out the contract violation at ...

We need to act on this today - what is your advice on how we proceed based on
the fact that they clearly appear to be in breach.

Gene Diers@ENRON
01/24/2000 12:34 PM
To: Louise Kitchen/LON/ECT@ECT
cc: Mark Taylor/HOU/ECT@ECT, Jay Webb/HOU/ECT@ECT, Anthony Dayao/HOU/ECT@ECT,
Philippe A Bibi/HOU/ECT@ECT

Subject: Re: check out the contract violation at ...

Louise, the contract is clear on this.  Here is what is states in ATTACHMENT
A - AMENDMENTS TO AGREEMENT

a.  Publicity

"Contractor shall never reference Company in any advertising or publicity
without its written consent.  Specifically, no reference must be made to
Company or any of its affiliates in any form of communication, wither verbal
or written or through any other media, including but not limited to printed
advertising or marketing materials, oral or print presentations, digital or
online media, or any other reference whatsoever to Company without the
express prior written consent of Company.".

Let me know if you need anything additional

gene

Louise Kitchen@ECT
01/23/2000 11:45 AM
To: Mark Taylor/HOU/ECT@ECT, Gene Diers/Corp/Enron@ENRON
cc:

Subject: Re: check out the contract violation at ...

Could you both please verify that the following use of our name is a breach
of contract on Agency's side.  They also want to do a press release which we
have not agreed to and I will be saying no to this on Monday.  I would like
to follow this with some legal reponse to this breach in contract immediately
- ie tomorrow.

Let me know what you think.

Louise
---------------------- Forwarded by Louise Kitchen/LON/ECT on 01/23/2000
05:38 PM ---------------------------

Philippe A Bibi
01/23/2000 03:52 AM
To: Jay Webb/HOU/ECT@ECT
cc: Louise Kitchen/LON/ECT@ECT

Subject: Re: check out the contract violation at ...

Louise,

Lets get the lawyers involved Agency CANNOT mention our name without our
written approval.

Lets get this done on Monday.

Thanks

P.

Jay Webb
01/21/2000 23:53
To: Louise Kitchen/LON/ECT@ECT, Philippe A Bibi/HOU/ECT@ECT
cc:
Subject: check out the contract violation at ...

http://www.agency.com/our-work/clients


Thanks Dan,  Each of my VP's conduct teleconference calls with their field employees every Monday starting after Stan's staff meeting.  Your guys a more than welcome to join them and I'll copy my guys with your memo to let them know.

I am conducting a two day trip to the field after Thanksgiving, traveling to Oklahoma/Texas Panhandle and Central Oklahoma.  I will be meeting with Beaver assets employees.  If someone familiar with the status of Duke can go along that would be helpful.  I have the company plane to get us around and will be spending the night in Oklahoma City.  Contact Amelia and she can get you an itinerary.

Phil Lowry

 -----Original Message-----
From: 	McCarty, Danny
Sent:	Friday, November 16, 2001 10:39 AM
To:	Lowry, Phil
Subject:

Phil,
       Due to the increasing demands on Stan, I'd like to offer our help in meeting and communicating with the field (Hayes, Harris, Neubauer, Miller, Kilmer, and myself).  Stan's already taken, and I'm sure that you have taken, more than your share of unwarranted heat and criticism, so we'll help tow the line.  Would there be an opportunity for field visits in the near future?  Let me know.

Dan


This deal, along with three other options I entered yesterday, defaulted to
AM when I changed the expiry frequency from Day to Month. It's been changed
now. Thanks for the heads up.

Kate

Stephanie Piwetz   12/21/2000 08:06 AM

To: Kate Symes/PDX/ECT@ECT
cc:

Subject: deal 483759.01

Kate-
Can you please change the expiry strip to be 2:00 pm.
thanks


see the doc below for making revisions.  ss
---------------------- Forwarded by Sara Shackleton/HOU/ECT on 01/05/2000
02:49 PM ---------------------------

Tanya Rohauer
12/08/99 11:14 AM
To: Sara Shackleton/HOU/ECT@ECT
cc:
Subject: Cargil Guaranty

---------------------- Forwarded by Tanya Rohauer/HOU/ECT on 12/08/99 11:14
AM ---------------------------

Russell Diamond
12/08/99 10:32 AM
To: Tanya Rohauer/HOU/ECT@ECT
cc:
Subject: Cargil Guaranty

These are the changes that Cargill wanted to Enrons outgoing form of
Guaranty.  I also attached the redline version of the draft with Cargill's
changes.

1.  In the WHEREAS clause, a number of Cargill entities and a number of
Enron entities are listed, as are a number of different types of
transactions.  You should review this carefully to make certain all
appropriate entities are listed, as are all different types of
transactions.

2.  Paragraph 1 - Third Line - add after "Counterparty" ",its successors and
assigns,".

3.  Paragraph 1 (b) - add the following after "($20,000,000.00)" ", together
with reasonable attorney fees (and other reasonable out-of-pocket costs and
expenses) of Counterparty incurred in the enforcement of this Guaranty."

4.  Paragraph 6(b) before "presentment" add "dilligence".

5.  Paragraph 6 - Third Paragraph - Second line - delete "immediately".
 Also - typo at end of line.

6.  Paragraph 6 - Third Paragraph - 5th line - Replace "five (5)" with
"fifteen (15)".

7.  Paragraph 6 - 5th line Delete "such".

8.  Replace Paragraph 7 with the following:  "The Guarantor further
agrees that all payments made by the Company to Counterparty on any
Obligation hereby guaranteed will, when made, be final and agrees that
if any such payment is recovered from, or repaid by, Counterparty in
whole or in part as a result of any final court order in any
bankruptcy, insolvency, or similar proceeding instituted by or against
the Company, this guarantee shall continue to be fully applicable to
such obligation to the same extent as though the payment so recovered
or repaid had never been originally made on such obligation.  However,
in no event shall this provision be interpreted to allow Counterparty
to recover more from the Guarantor, Company, or any combination of the
payments from both such parties, than the Company's total obligations
under the Agreement hereby guaranteed."

9.  Paragraph 8 - Replace "Texas" law with "New York" law.


In connection with the attached, please note the highlighted language at the
end of the document.  We couldn't decide what it means, so it needs to be
re-written or deleted.

The party we are contracting with is Virginia Power, not NC Power. If we
misstated this previously, we would like to clear it up now.

Thank you,

Kay Mann
---------------------- Forwarded by Kay Mann/Corp/Enron on 09/27/2000 11:18
AM ---------------------------

Reagan Rorschach
09/27/2000 11:13 AM
To: Kay Mann/Corp/Enron@Enron, John Moore/Corp/Enron@Enron
cc:

Subject: Rebuttal Testimony

Please review and forward to Mary Lynn Griggs at Kilpatric and Stockton.
mgrigg@kilstock.com

Thanks,

Reagan


AAAAAGGGHHHHHH...I just found out that I need to take the TX drivers exam
both written and on the rode.  This is a two day process and all because I
let my CA license expire.   I know I need some of your organizational
skills.  I may try to run out and take the test this afternoon while I get
moved to 30 (I better not fail it). How's life on 32 today -- well that's
enough about you let's talk more about me.


I'm sorry, I forgot that you were clairvoyant.  I don't think you can make a
case that you were smart for betting me without the points.  That's like me
saying that Enron's stock is trading at 70 why don't I buy it for 80 b/c I am
confident that it is going to 90.

That's real smart.  No wonder EES loses money!

	Enron North America Corp.

	From:  Timothy Blanchard @ EES                           03/20/2000 10:14 AM

To: Eric Bass/HOU/ECT@ECT
cc: Matthew Lenhart/HOU/ECT@ECT, Chad Landry/HOU/ECT@ECT
Subject: Re:

Going below the belt?  If that makes you feel better, because you were wrong
about your team and conference AGAIN, so be it.  There are still seats
available on the bandwagon.  The fee is only $50.  How smart you were to bet
me without giving any points - definitely worth bragging about.

Eric Bass@ECT
03/20/2000 09:29 AM

To: Timothy Blanchard/HOU/EES@EES
cc: Matthew Lenhart/HOU/ECT@ECT, Chad Landry/HOU/ECT@ECT
Subject: Re:

how was the well this weekend?

	Enron North America Corp.

	From:  Timothy Blanchard @ EES                           03/20/2000 08:52 AM

To: Eric Bass/HOU/ECT@ECT, Chad Landry/HOU/ECT@ECT, Matthew
Lenhart/HOU/ECT@ECT, Phillip M Love/HOU/ECT@ECT, Bryan Hull/HOU/ECT@ECT,
Brian Hoskins/HOU/ECT@ECT
cc:
Subject:

One other thing...

Teams in the Sweet 16

SEC - 3
Big 12 - 2

Bass, not working out the way you thought it would, huh?


fyi

 -----Original Message-----
From: 	Smith, Ann
Sent:	Friday, November 09, 2001 4:00 PM
To:	Fossum, Drew; Kilmer III, Robert; Lokey, Teb; Kirk, Steve; Harris, Steven; Donoho, Lindy; Miller, Mary Kay
Cc:	Pavlou, Maria; Porter, Gregory J.
Subject:	Transwestern v. SoCal Gas

Privileged and Confidential
for Discussion and
Settlement Purposes only

Yesterday, Maria and I spoke with Georgetta Baker, Counsel for SoCal Gas.  We proposed the settlement offer reflected in the attachment to this email.  We walked Georgetta through the details of the offer and the support for its reasonableness.  Georgetta, at the time of our conversation, did not have the written offer reflected in the attachment, however, we will provide her the written offer this morning.  Georgetta was very appreciative of our offer and said she would discuss the same with her clients on Tuesday.  (Apparently, her main clients are at the Transwestern Customer Meeting today and will be out as a result of Veterans Day on Monday.)  Once we hear back from SoCal Gas we will advise.

From Greg Porter


Car Rental Options for Enron Travelers

Rental car contracts for 2001 have been awarded to:

National Car Rental (Primary) and  Alamo Rent-A-Car (Secondary).

The intent of these agreements is to consolidate and leverage Enron's total car rental spend to achieve the most favorable rates and non-pricing provisions (i.e. insurance).

National Car Rental, due to its service levels, availability and total value proposition, has been awarded Primary status and is recommended as the first choice for Enron travelers' needs.

Alamo Rent-A-Car, a sister company to National, has been awarded a contract reflecting a Secondary status, due to its service levels, availability and low cost solutions.  Alamo is recommended as an alternative to National, where available.

When you rent a vehicle in the United States, (including Puerto Rico) or Canada, the following insurance provisions are included, regardless of rate selected:
1.	L/DW (Loss/Damage Waiver) - This is what is called Comprehensive or Collision on your personal auto. It covers the rental vehicle and pays for any damage to it.
2.	Liability - This covers people and property outside the rental vehicle. For both National and Alamo, the coverage is $100,000 per person, $300,000 per occurrence and $50,000 for property damage.
** IMPORTANT ***
These coverages apply regardless of rate selected, as long as the following contract ID is communicated at the time of reservation and rental is recorded on the transaction rental agreement.  (National -  5000838 Alamo    - #143974)
To enjoy the highest levels of service while renting a vehicle from Enron's preferred suppliers, it is recommended that each traveler enroll in National's and Alamo's preferred traveler programs.  National's Emerald Club membership and Alamo's Quicksilver program are designed to speed the transaction time by providing services such as counter bypass and rapid return.  The enrollment fees for these programs have been waived for Enron travelers.  Enrollment packets will be mailed to the addresses of Enron American Express T&E Cardholders.  You may also find an enrollment form on the Enron Travel Program intranet @ gss.enron.com <http://gss.enron.com/>.

If you have any questions or comments, please contact Jeff Leath at 713-646-6165.


I have been told this counterparty has scheduled some maintenance for March
22nd through March 23rd or 24th.

 HPL  is selling them 2.0/day ; Sitara #: 92794.  The 2.0/d is the only
activity at the meter.

 Please advise.


FYI.
---------------------- Forwarded by Kay Mann/Corp/Enron on 09/06/2000 12:11
PM ---------------------------

"Nancy Wodka" <nwodka@bracepatt.com> on 09/06/2000 11:56:47 AM
To: <heather.kroll@enron.com>, <kay.mann@enron.com>, <ozzie.pagan@enron.com>
cc:

Subject: Edgecombe PPA

Please see attached clean and blackline copies of the revised agreement for
your review, per my discussion with Kay yesterday.

 - CLN10.DOC
 - RED10.DOC


Virtually everyone wants us to move forward, define some market rules, define some new tariff rules, so that a little guy, a trader in Arkansas that wants to trade in Maine, can do so easily without having to understand rules for 17 different RTOs. I think this is a banner week for RTO policy. I think we finally have political will for bold, decisive action. We've got a head of steam up. We're going to move quickly." - FERC Commissioner William Massey on RTO week.

Rick:  now will you quit picking on poor bill?


Kimberly Mike believes this is a good deal however could we see the
documentation that EES has to confirm this transaction.