Doug,

See you at  9:00 on Tuesday. I have reserved EB1938
for us.

Vince

Doug Arnell@ENRON_DEVELOPMENT
07/10/2000 08:59 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Re: LNG Book

9 am should be fine.

Vince J Kaminski@ECT
07/06/2000 05:41 PM
To: Doug Arnell/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Vince J Kaminski/HOU/ECT@ECT, Stinson Gibner/HOU/ECT@ECT

Subject: Re: LNG Book

Doug,

Can we meet at 9 on Tuesday instead?

Vince

Doug Arnell@ENRON_DEVELOPMENT
07/06/2000 02:36 PM
To: Vince J Kaminski@ECT
cc:
Subject: LNG Book

Vince, I would like to have another update meeting to talk about our progress
on the LNG book.  Would this coming tuesday morning at 10 work for you and
your group?

Please let me know.

Thanks


We have received the executed Second Amendment to Guaranty Agreement dated as
of June 9, 2000.  This amendment changed the guaranty of Formosa Plastics
Corporation, USA ("Guarantor") with respect to the physical transactions with
Formosa Hydrocarbons Company, Inc. and financial transactions with Neumin
Production Co. to an unlimited guaranty.  The original guaranty amendment
will be sent to Credit.


Jeff,

Sorry I was unable to make the call yesterday.  Thanks for the summary.  My
comments and questions are indicated below.

Please fax a copy of Plan B to be at 713 767 6677.

You suggest starting the "process" in Sacramento next week.  I'm not
sure exactly what this means.  Are we saying we will have a proposal
or that we will be advocating a process/forum to get all the right
parties at the table?
Did we set a time for the next call on Friday?
With regard to the Issues list, here are a few extra items:
need to make clear that real price signals should be sent to all
sectors (not just those that wouldn't vote for Davis anyway) as
soon as possible
I cannot imagine a situation in which the IOUs are returned to
financial stability within 3-6 months; my guess is that it will
be at least a year
if IOUs are returned to the procurement role, we need to make
sure that they have the appropriate risk management tools
(ability to enter forward contracts, options, etc.)
if IOUs are returned to the procurement role, we also need to
have assurances that the situation we have today won't happen
again;  for example, if the state assigns the CDWR contracts to
the IOUs and three years from now the market price is less than
the contract price, what assurances does anyone have that the PUC
will not try to make the IOUs absorb the difference
If we want to go to a core/non-core approach, why do we need to
wait 18-24 months;  it seems to me that we could start that
process now
As for legal claims and investigations, we need to make clear
that we want to resolve all state and federal claims;  the civil
claims present a different set of challenges for resolution
as for discounts on receivables, I'm not ready to commit one way
or another; however, if there are discounts they must apply to
all market participants - not just the ones that Davis can get to
the table.

Lynn

Jeff.Dasovich@enron.com on 05/14/2001 08:47:31 PM

To:   sryan@aesc.com, hoffman@blackstone.com, bbailey@duke-energy.com,
Lynn.A.Lednicky@Dynegy.com, john.harrison@elpaso.com,
rachael.king@elpaso.com, clark.smith@elpaso.com, skean@enron.com,
tom.allen@mirant.com, sonnet.edmonds@mirant.com,
randy.harrison@mirant.com, alex.goldberg@williams.com
cc:   Maureen.McVicker@enron.com

Subject:  Summary of Today's Call/Agenda for Tomorrow's Call

Greetings:
n order to keep everyone in the loop, the folks on today's call wanted to
send out a brief summary of the call for the benefit of those who couldn't
make it.  Apologies for any omissions, inaccuracies, etc.  Others who were
on the call please chime in if I've gotten anything wrong, or missed
anything.

Best,
Jeff

SUMMARY
Enron, Duke, El Paso and Williams were on the call, as was Michael
Hoffman of the Blackstone Group (the Governor's financial advisors).
On the subject of how the group would organize itself, it was agreed
that the calls would be open to anyone who wanted to participate.
A smaller group consisting of Duke, El Paso, Enron, and Williams would
take the lead on walking the halls of Sacramento, meeting with policy
makers, and advocating whatever plan the group develops.
Folks agreed that achieving a comprehesive solution requires a tangible
process; that is, the principals need to get in a room, face to face,
for however long it takes to work out a resolution.
It was agreed that the process should start no later than the beginning
of next week, and that it should take place in Sacramento.
It was decided that the Legislature and the Attorney General needed to
be brought into the process as soon as possible, i.e., next week.
There was some discussion regarding the release today of "Plan B."  Plan
B is a plan proposed by Democratic and Republican legislators as an
alternative to the MOU that the Governor struck with Edison.  After that
call I received a copy of "Plan B."  If you'd like a copy please send me
your fax number.
Folks on the call agreed to have the next "supplier-only" call-in
meeting on Friday.
Finally, Michael Hoffman said that they are hoping to have a "ratings
agency level" presentation prepared by the end of the week.  The goal of
the presentation is to reassure capital markets that the bonds the state
seeks to issue are solidly backed by retail rates.

The Agenda for Tomorrow's Call with the Governor's Staff
Item #1:       The Credit Issue
Michael Hoffman said that the Governor's office wants to start
tomorrow's meeting discussing the creditworthiness issue.
Hoffman said that the Governor's folks are hoping to have completed by
the start of tomorrow's meeting a draft of an agreement between the
California PUC and CDWR.  The agreement is designed to ensure that DWR
gets paid for power services delivered.
If the draft is ready, they'd like to discuss on the call tomorrow.

Item #2:       Identify the Components of a Comprehensive Solution.
It was agreed that our group should put on the table at tomorrow's
meeting the universe of issues that need to be included in a
comprehensive solution.
Enron was asked to take a first stab at what those components are.  The
following is a brief outline, which is not intended to be definitive,
but a starting point for discussion.
Utility creditworthiness
retail rates must reflect costs
Increase supply
streamline and otherwise reform the siting process
Decrease demand
establish real-time pricing
implement demand buy-down and other conservation programs
Create a real market
Remove the State from the power-buying business as soon as possible
(e.g., once new rates are in place and utilities are returned to
creditworthiness; approximately 3-6 months)
Return the procurement role to the utilities
Reinstate Direct Access immediately for all customers
Within 18-24 months, create a "core/noncore" market structure for
electricity, similar to California's market structure for natural
gas
Keep the industry in the hands of the private sector
Reject proposals calling on the State to take over transmission,
generation, etc.
Resolve outstanding legal claims, investigations, etc.
Resolution requires certainty and prompt payment (understanding
that discounts on receivables is on the table for discussion)


---------------------- Forwarded by Michael Burke/Houston/Eott on 04/07/2000
08:55 AM ---------------------------

Steve Duffy
04/06/2000 10:13 AM
To: Cutty Cunningham/Houston/Eott@Eott, Susan Ralph/Houston/Eott@Eott,
Michael Burke/Houston/Eott@Eott, Dana Gibbs/Houston/Eott@Eott, David
Hultsman/Houston/Eott@Eott
cc:

Subject: People v. Koch Status Report

This is FYI.  I believe we have this matter under control from an EOTT
standpoinnt.  SWD
---------------------- Forwarded by Steve Duffy/Houston/Eott on 04/06/2000
10:10 AM ---------------------------

Edward Attanasio
04/03/2000 02:22 PM
To: Steve Duffy/Houston/Eott@Eott
cc: Bob Jacobs/Long_Beach/Eott@Eott

Subject: People v. Koch Status Report

 Four current EOTT employees were interviewed by Koch counsel last Friday,
March 31, in Bakersfield re People v. Koch. These interviews were informal,
in the sense that the witnesses were not under oath, and no verbatum
transcript of the proceedings was created.

 Prior to that time, Koch's counsel of record, an LA lawyer from a very small
firm, did all the investigation himself.  On Friday, he was joined by two
lawyers from Munger, Tolles and Olson, which is a pretty heavy hitter LA
litigation firm.  In response to my pre-interview inquiry, they stated that
they were lawyers for Koch conducting an internal investigation of the
allegations of this lawsuit.  During this conversation, they also represented
taht the DA told them that no employees are targets of the DA's
investigation.  They conceded, however, that this could change if the DA
changed his mind.

 While this matter is a civil action, its allegations are pretty severe and
constitute potentially criminal conduct.  Certain former Koch employees, some
of whom are now employed by EOTT, are accused of running equipment out of
compliance with air regs, instructing other Koch employees to run equipment
out of compliance with air regs, altering equipment to cause it to be out of
compliance, altering company records to cover up violations, and generally
obstructing State Air Pollution Inspectors in the perfomance of their
duties.  NONE OF THIS CONDUCT IS ALLEGED TO HAVE OCCURRED ON EOTT'S WATCH.

 Based on our contract with Koch, we have been cooperating with their
investigation of the facts underlyng this suit by making witnesses
available   However, given the potentially criminal nature of allegations, I
have advised all EOTT personnel during their pre-interviews that, while these
are just allegations, they are potentially serious, and if they are
uncomfortable with continuing at any time, they ahould inform me and I will
stop the interview so they can seek the advice of an independent counsel.  I
was also prepared to strongly urge any employee who implicated himself in
potentially criminal misconduct during the pre-interview not to proceed but,
rather, to get a lawyer to advise him.  Fortunately this did not happen; all
of our people deny participation in the alleged wrongdong.

 One of our employees said he was present when the former plant manager, who
does not work for us, told a couple of employees to record false information
in company records in order to hide events of non-compliance.  Other than
that, nothing of much interest came up.

 Naturally, this lawsuit has some of our people concerned about their
reputations and possible exposure.  While it is in EOTT's best interest to
comply with Koch's requests for information (based on the 12/1/98 contract
requirements), it might not be in certain individuals' best interest to
ultimately give testimony in this case without first getting immunity from
prosecution.  Therefore, if this goes any further (ie. to depostions, etc.) I
would like to express the concerns of these employees to Koch and inquire as
to whether Koch will pay for them to get independent counsel to advise them.
Hopefully, they'll just settle the thing, and we won't have to deal with it
anymore, but if they don't, I like to try to make sure our guys know their
rights vis a vis the district attorney.

 Your thoughts? --Ed.


FYI - Please ask me if you have any questions.
---------------------- Forwarded by Lorraine Lindberg/ET&S/Enron on
12/05/2000 01:19 PM ---------------------------

Ramona Betancourt
12/05/2000 11:02 AM
To: Linda Trevino/ET&S/Enron@ENRON
cc: Lorraine Lindberg/ET&S/Enron@ENRON, Lindy Donoho/ET&S/Enron@ENRON

Subject: Re: TW's LFT changes

Linda,
Sorry it took longer than I thought to get back with you. Marketing had
several issues come up last week.

Here are the answers to your questions.

Item 1. Is this a contract waiver? I talked with Lorraine and here is what
Marketing wants: They would like the request form to be at a shipper level
(LE Level) that applies to all their new, current and future LFT contracts.
Since it will be a manual process, can you keep an LFT waiver log/book that
is at a LE level, then place a copy of this signed overrun request form in
each LFT contract file & change the flag to Yes on each active LFT contract
for that shipper?
Item 2. Can they change their mind on the waiver-if so would this require an
amendment to the contract? Answer - Yes they can change, so the field needs
to be date effective, but would like it to be an administrative amendment
with new request form signed by the shipper ( not an amendment through the
contract). This would be a change for all their LFT contracts since marketing
wants to keep it simple at an LE Shipper Level.
Item 3. Can the waiver be date sensitive? Answer -  Yes, Susan Scott will
review the request form and make any changes needed. I will forward a copy of
the draft I did to you and marketing and Susan to review.
Item 4. Is the contracts group suppose to be the keeper of the waiver? Answer
- Yes, Marketing suggested that a LFT Waiver book be set up, then also they
would like a copy of the signed request form to be in each LFT contract file.
Item 5. When is the shipper suppose to submit the waiver - at request time?
Answer - Yes at the time they are executing their first LFT contract. When we
have the system changes in production, I will let marketing know, & they will
advise the shippers of this new waiver.
Item 6. Where will the waiver reside? With the request, on the Web under
blank forms? Answer - Yes, on the web, under Contracts-blank forms for  TW.

Please let me know if you have any other issues.
Thanks Ramona

Linda Trevino
11/20/2000 10:28 AM
To: Ramona Betancourt/ET&S/Enron@ENRON
cc:

Subject: Re: TW's LFT changes

Have you heard back from anyone of the below?

Ramona Betancourt
11/10/2000 03:20 PM
To: Lorraine Lindberg/ET&S/Enron@ENRON, Lindy Donoho/ET&S/Enron@ENRON
cc: Linda Trevino/ET&S/Enron@ENRON, David Duff/ET&S/Enron@ENRON

Subject: Re: TW's LFT changes

Lorraine,
I talked with Linda Trevino this morning about  the LFT waiver & from what I
could remember we  decided to send the  form letter for the waiver  with the
LFT contract so it would be effective for the time frame of the LFT
agreement. The system should default to no waiver which means the LFT shipper
would be scheduled to zero when we call an LFT day at their point. If we have
the waiver, then the flag will be set to yes. During scheduling we will
schedule their LFT as overrun if capacity at the point was available. I do
not have a draft waiver form, but I can get a copy of one that NNG uses.  You
may want to address these issues from Linda. See her questions below.

Thanks Ramona

---------------------- Forwarded by Ramona Betancourt/ET&S/Enron on
11/10/2000 02:39 PM ---------------------------

Mary Darveaux
11/10/2000 01:34 PM
To: Linda Trevino/ET&S/Enron@ENRON
cc: Ranelle Paladino/ET&S/Enron@Enron, Ramona Betancourt/ET&S/Enron@ENRON

Subject: Re: TW's LFT changes

Thats more than a couple ?s.  I guess I would suggest that we talk to Ramona
and whichever TW Marketer sponsored LFT.  I guess I didn't see it as any more
than an interpertation of a nom as interruptible when LFT firm was not
available, but I can tell that you have many more concerns.

Linda Trevino
11/10/2000 11:00 AM
To: Ranelle Paladino/ET&S/Enron@Enron, Mary Darveaux/ET&S/Enron@ENRON
cc:

Subject: Re: TW's LFT changes

Yes but I have a couple of more questions:

Is this a contract level waiver?
Can they change their mind on the waiver - if so would this require an
amendment to the contract?
Can the waiver be date sensitive - meaning yes today, no tomorrow?
Is there a draft of the waiver yet?
Is the contract group suppose to be the keeper of this waiver?
When is the shipper suppose to submit the waiver - at request time?
Where will the waiver reside?  With the request, on the Web under blank forms?

Let me know.

Thanks

Linda

From: Ranelle Paladino on 11/10/2000 10:49 AM
To: Linda Trevino/ET&S/Enron@ENRON
cc:

Subject: Re: TW's LFT changes

Linda,
Does Mary's response give you enough information?
Ranelle
---------------------- Forwarded by Ranelle Paladino/ET&S/Enron on 11/10/2000
10:47 AM ---------------------------

Mary Darveaux
11/10/2000 10:46 AM
To: Ranelle Paladino/ET&S/Enron@Enron
cc:

Subject: Re: TW's LFT changes

NNG was included in this discussion prior to our rejection order.  No longer
pertains to NNG -   I am familiar with this issue.  The situation was
described to me as follows:   Shipper has a standing nom for a month.  i.e.
a firm 100/day at a receipt point.  sometime during the month we call a LFT
day at the receipt point,  the nom would automatically become an
interruptible nom for the LFT which may or may not be scheduled,  but the key
is that the Shipper does not have to watch the notice and make a specific
nom.  Does that answer your questions?

From: Ranelle Paladino on 11/10/2000 10:30 AM
To: Mary Darveaux/ET&S/Enron@ENRON
cc:

Subject: Re: TW's LFT changes

Mary,
Linda called asking about these enhancements--specifically why is NNG
included in an LFT enhancement and did we know about this overrun provision
on LFT days.  Are you familiar with this?
Ranelle
---------------------- Forwarded by Ranelle Paladino/ET&S/Enron on 11/10/2000
10:28 AM ---------------------------

Linda Trevino
11/10/2000 10:24 AM
To: Ranelle Paladino/ET&S/Enron@Enron
cc:

Subject: Re: TW's LFT changes

---------------------- Forwarded by Linda Trevino/ET&S/Enron on 11/10/2000
10:23 AM ---------------------------

Ramona Betancourt
11/09/2000 12:53 PM
To: Linda Trevino/ET&S/Enron@ENRON
cc: Gerry Medeles/ET&S/Enron@ENRON, Sheila Nacey/ET&S/Enron@ENRON, David
Duff/ET&S/Enron@ENRON, Rick Dietz/ET&S/Enron@ENRON

Subject: Re: TW's LFT changes

Linda,

Here is the document. It posted out on the ET&S website for the Electronic
Business Development unit under Enhancement Request In Progress Item # 523.
The flag we must add to contracts is need when a shipper is granting us
arthorization to schedlue their LFT firm gas as overrun on days when LFT
service is not available.
Please review and get with me on Friday. Legal and regulatory have approved
this scheduling of overrun volumes for LFT contracts for both NNG and TW so I
think we will need to add the flag indicator to both contract systems.

Thanks Ramona


Sent on behalf of Bruce McMills:

For 2/23, the nom into Eastrans is 42,000 MMBtu, which is 39,179  Mcf @ 1072
btu.
Please increase nom into PG & E to 35,000 MMBtu.  7,000 will come from
Fuels Cotton Valley, and sale of 500 MMBtu//d remains in place.

If there are any problems please contact Bruce McMills at 817-255-5020 or Chad
Cass at 713-627-6202.

Thanks


Sorry to hear about your airport travels.  Has Alejandra found a place to
live yet?  When is she starting on the east desk...they need help!!  They
screwed their position up again today.

My weekend was really good.  Of course it could have been better without the
rain.  Saturday my friend and I sat around and gossiped most of the afternoon
and then went out to eat and to a movie.  Then Sunday we went to visit some
friends of ours in Sugarland that just had a baby.  So we spent most of
Sunday afternoon playing with the baby.  The dad is hilarious.  He's the type
that seems really quite but when he says something he just cracks you up.  He
was talking about the baby monitors they got.  He said he was going to put a
message on it that said, "Hi, Brianna.  This is your parents.  We aren't
available right now, but it you leave a message we'll get back to you."

Are we having Spanish class today?

Robin

PS My forearms are a little sore, but that's all.

Gabriel Monroy
11/06/2000 08:40 AM
To: Robin Rodrigue/HOU/ECT@ECT
cc:
Subject: Good Morning

  Rest of Saturday was good I went out with some friends to this place I
really like. However, Sunday was  not so good. I went to IAH (airport) twice.
So, that was almost like going to Austin, plus on the way back rain was very
very bad (The 10:30 pm. rain).  For the second time, Alejandra's plane was
delayed, but this time it was more than 5 hours delayed. She got stuck in
Dallas and of course I knew once I was already at IAH.  How about you?
Hey, My right shoulder is a little sore (Golf). Is your's sore? or am I just
a little rusty.

Gabriel


ummm helloooooooooooooooooooooooooo

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Friday, October 26, 2001 3:23 PM
To:	Nelson, Michelle
Subject:	RE:

just admit it

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Friday, October 26, 2001 3:22 PM
To:	Maggi, Mike
Subject:	RE:

on yourself?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Friday, October 26, 2001 3:21 PM
To:	Nelson, Michelle
Subject:	RE:

ok a crush

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Friday, October 26, 2001 3:21 PM
To:	Maggi, Mike
Subject:	RE:

what's an infatuation?  you being a brat?  that will never pass

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Friday, October 26, 2001 3:20 PM
To:	Nelson, Michelle
Subject:	RE:

dont worry it is probably just an infatuation that will pass

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Friday, October 26, 2001 3:19 PM
To:	Maggi, Mike
Subject:	RE:

that makes you an eve bigger brat.

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Friday, October 26, 2001 3:18 PM
To:	Nelson, Michelle
Subject:	RE:

I know

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Friday, October 26, 2001 3:18 PM
To:	Maggi, Mike
Subject:	RE:

YOU ARE A BRAT!!!!

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Friday, October 26, 2001 3:17 PM
To:	Nelson, Michelle
Subject:	RE:

whatever, ok if thats what you want me to believe

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Friday, October 26, 2001 3:16 PM
To:	Maggi, Mike
Subject:	RE:

quit flattering yourself.  it was a male looking at you and he told me!  how do you feel about that?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Friday, October 26, 2001 3:16 PM
To:	Nelson, Michelle
Subject:	RE:

stop lying, you dont have to be embarrased, I understand

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Friday, October 26, 2001 3:15 PM
To:	Maggi, Mike
Subject:	RE:

then i guess it is a fact that a male was staring at you.

i am laughing so hard!!!! :)

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Friday, October 26, 2001 3:13 PM
To:	Nelson, Michelle
Subject:	RE:

I wasnt accusing you I was just stating a fact

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Friday, October 26, 2001 3:13 PM
To:	Maggi, Mike
Subject:	RE:

i can't tell because then you would acuse them of staring at you too.

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Friday, October 26, 2001 3:11 PM
To:	Nelson, Michelle
Subject:	RE:

no I dont know how it works, and who told you

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Friday, October 26, 2001 3:10 PM
To:	Maggi, Mike
Subject:	RE:

don't you have messenger

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Friday, October 26, 2001 3:09 PM
To:	Nelson, Michelle
Subject:	RE:

nobody told you, dont lie

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Friday, October 26, 2001 3:08 PM
To:	Maggi, Mike
Subject:	RE:

damn you caught me.  and for your information, i didn't notice it...someone told me about it!  so whatever to you mr. allergy man!!!

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Friday, October 26, 2001 3:07 PM
To:	Nelson, Michelle
Subject:

if you werent always staring at me you wouldnt notice my eyes


OOps, I can't seem to open it!!

"Rahm, Charles E." <Rahm@missouri.edu> on 09/11/2000 08:58:56 AM
To: "'Kenneth Lay'" <kenneth.lay@enron.com>
cc:
Subject: Bio for Davenport Program

Dr. Lay:

We need a bio of you to include in the program for the Herbert J. Davenport
program on October 13. I have attached the bio of you that we used in the
brochure announcing the Pinkney C. Walker Endowment. Perhaps, with a few
adjustments, it will be suitable for this current need.

Please review the bio and send me any changes you would like made as soon as
possible.

Thank you very much for your prompt attention to this.

Sincerely,

Charlie Rahm
senior information specialist
MU College of Business
573-884-1726
(fax) 573-884-1675

 - C.DTF


------------------------------------------------------------------------------
------------------------
W E E K E N D   S Y S T E M S   A V A I L A B I L I T Y

F O R

December 01, 2000 5:00pm through December 04, 2000 12:00am
------------------------------------------------------------------------------
------------------------

SCHEDULED SYSTEM OUTAGES:

ARDMORE DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.

AZURIX: No Scheduled Outages.

EB34 DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.

EDI SERVER: No Scheduled Outages.

ENRON NORTH AMERICAN LANS:
Impact:  EES
Time:  Sat 12/2/2000 at  9:00:00 PM CT thru Sat 12/2/2000 at  9:30:00 PM CT
 Sat 12/2/2000 at  7:00:00 PM PT thru Sat 12/2/2000 at  7:30:00 PM PT
 Sun 12/3/2000 at  3:00:00 AM London thru Sun 12/3/2000 at  3:30:00 AM London
Outage:  Replace RSM in EES CX2
Environments Impacted:  EES
Purpose: Module needs to be replaced. While switch is being updated, there
will be outages for EES and EBS.
Backout: Replace old RSM
Contact(s):  Vincent Fox   713-345-7784

FIELD SERVICES:  No Scheduled Outages.

INTERNET: No Scheduled Outages.

LOTUS NOTES: No Scheduled Outages.

MARKET DATA:
Impact:  Market Data
Time:  Fri 12/1/2000 at  4:30:00 PM CT thru Fri 12/1/2000 at  5:30:00 PM CT
 Fri 12/1/2000 at  2:30:00 PM PT thru Fri 12/1/2000 at  3:30:00 PM PT
 Fri 12/1/2000 at  10:30:00 PM London thru Fri 12/1/2000 at  11:30:00 PM
London
Outage:  Monthly Preventive Maintenance Reboot of BTRS Servers
Environments Impacted:  Telerate Users
Purpose: Preventive maintenance
Backout:
Contact(s):  Rick Le   713-853-5345

NT: No Scheduled Outages.

OS/2:  No Scheduled Outages.

OTHER SYSTEMS: No Scheduled Outages.

SITARA:  No Scheduled Outages.

SUN/OSS SYSTEM: No Scheduled Outages.

TELEPHONY: No Scheduled Outages

TERMINAL SERVER:  No Scheduled Outages.

UNIFY:  No Scheduled Outages.

------------------------------------------------------------------------------
-------------------------------------------------------
FOR ASSISTANCE

(713) 853-1411   Enron Resolution Center
(713) 853-5536   Information Risk Management

Specific Applications Help:
Unify On-Call      (713) 284-3757  [Pager]
Sitara On-Call     (713) 288-0101  [Pager]
RUS/GOPS/GeoTools/APRS   (713) 639-9726  [Pager]
OSS/UA4/TARP    (713) 285-3165  [Pager]
CPR      (713) 284-4175  [Pager]
EDI Support      (713) 327-3893  [Pager]
All Other Systems    (713) 563-5797  [Pager]
      or (713) 563-5987  [Pager]


at 5:00


Brad, as I am cleaning out Jeff's e-mails, I came across this one from you.
It appears to me that it has not been opened, so I'm checking to find out if
you got the answer to your question.  Please let me know, and I'll try to get
the information for you.  If we dropped the ball on this, I apologize.

Sherri Sera x3-5984

	From:  Brad Noble                           03/01/2000 11:20 AM

To: Jeff Skilling/Corp/Enron@ENRON
cc:

Subject: EBS EQUIPMENT BUILD WAREHOUSE LOCATION?

Mr Skilling,

During the All Company meeting you mentioned the warehouse location on North
Shepard where the
Broadband equipment was being assembled.

I and a couple of others would like to visit it. This would be useful to us
who are responsible for categorizing
types of material and getting them in the SAP Material Master via the Aspect
Corporate Catalog.

Who can provide us the street address and allow us to visit?

Thanks,
 Brad Noble


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We have received several inquiries on the email link embedded in the
communication distributed on December 27, 2000 by Steve Kean and Cindy Olson
in reference to the PRC process.  If you have experienced problems when
clicking on this link, copy and paste the link into an email message.  We
apologize for any convenience this may have caused.  Please contact your
local IT Help desk, should you continue to have problems.
The email address to submit your ideas and suggestions is perfmgmt@enron.com


Information Management Weekly Milestones Report ) 02/16/01

General Project Status.
Project continues on schedule.

An IM executive sponsor meeting is scheduled for 2/23/01, 2:00 - 3:00 p.m.,
EB50M03.  All IM executive sponsors have been confirmed to attend.

Portal.
Brandon Rigney's team has completed and presented the portal "Look and Feel"
to the portal IT team.  Steve Kean will be presented this next week.  The
portal "Look and Feel" meets Corp. marketing and communications guidelines
and specifications. Brandon's team is recommending the portal name:
anywhere.enron.com.

Price-Waterhouse demonstrated Hewlitt Packard's benchmark portal.  Before
this portal, HP had 9000 webpages and some 300 competing channels.  They
consolidated their webpages down to 900.  Now they have one portal with a
host of seamless applications available through a single sign-on process.
Approximately 90% of employees use this tool.  The portal was unveiled in
October of 2000.  The $30 million project costs were realized by February,
2001.  In cost savings, HR alone has saved $10 million since October, 2000.

PW's portal uses both Verity and Infoseek as their search engines.  The task
force will work with PW contacts at HP to learn about their experience with
both these tools.

Allan Sommer has targeted resources to support the change management
initiative for the portal pilot.  According to HP the key to success for a
portal project is change management.  Communicate, communicate, communicate.

Joe Wong's development team continues portal pilot development.  All
potential portal pilot applications (in scope, out of scope, and killer
applications) are being reviewed for delivery.

UDM/ESE.
Verity has been selected as the UDM/ESE tool of choice to pilot.  Sue Vasan
has been identified as the internal Business Analysts/Project Coordinator for
the UDM/ESE pilot.  Sue, who works for Debbie Brackett in Rick Buy's
organization, will be working this pilot effort for the next three weeks
minimum.

All task force members are to identify targeted audiences to test the UDM/ESE
tool.

All task force members are to identify a list of BU/FU applications to target
a UDM/ESE tool to search on (e.g. LiveLink, HR systems, etc.).

IM Strategy Proposal.
Per Steve Kean, the Task Force should continue focusing on delivering our
objectives with little expense tagged to this project.  Task force members
are encouraged to provide resources and support for all task force
initiatives.

Allan Sommer is scheduled to deliver a draft of the IM Strategy Proposal.
Allan will deliver his pre-draft work to Marie Hejka end of week.


Per the discussion during our conference call yesterday, please find
attached the transcript from Judge Lew's 2/12/01 hearing in SCE v. Lynch.

(See attached file: transcrip of procedings.pdf)

==========
The preceding e-mail message (including any attachments) contains
information that may be confidential, be protected by the attorney-client
or other applicable privileges, or constitute non-public information.  It
is intended to be conveyed only to the designated recipient(s).  If you are
not an intended recipient of this message, please notify the sender by
replying to this message and then delete it from your system.  Use,
dissemination, distribution, or reproduction of this message by unintended
recipients is not authorized and may be unlawful.
==========

==========
The preceding e-mail message (including any attachments) contains
information that may be confidential, be protected by the attorney-client
or other applicable privileges, or constitute non-public information.  It
is intended to be conveyed only to the designated recipient(s).  If you are
not an intended recipient of this message, please notify the sender by
replying to this message and then delete it from your system.  Use,
dissemination, distribution, or reproduction of this message by unintended
recipients is not authorized and may be unlawful.
==========

 - transcrip of procedings.pdf


-----Original Message-----
From: 	Whiting, Greg
Sent:	Friday, December 07, 2001 3:01 PM
To:	Zipper, Andy
Cc:	Hodges, Georgeanne
Subject:	COF Curves for Andy Zipper.xls

Andy,

Here is the curves that were used to calc the 9/30 Cost of Funds for EWS.

				Greg x35399


Darlene Grossman
3827 W. Sherwin Ave.
Lincolnwood, IL 60712
darlene_grossman@hmco.com

To Mr. Ken Lay,

I'm writing to urge you to donate the millions of dollars you made from selling Enron stock before the company declared bankruptcy to funds, such as Enron Employee Transition Fund and REACH, that benefit the company's employees, who lost their retirement savings, and provide relief to low-income consumers in California, who can't afford to pay their energy bills.  Enron and you made millions out of the pocketbooks of California consumers and from the efforts of your employees.

Indeed, while you netted well over a $100 million, many of Enron's employees were financially devastated when the company declared bankruptcy and their retirement plans were wiped out.  And Enron made an astronomical profit during the California energy crisis last year.  As a result, there are thousands of consumers who are unable to pay their basic energy bills and the largest utility in the state is bankrupt.

The New York Times reported that you sold $101 million worth of Enron stock while aggressively urging the company's employees to keep buying it.  Please donate this money to the funds set up to help repair the lives of those Americans hurt by Enron's underhanded dealings.

Sincerely,

Darlene Grossman


Melissa:

a spark spread is basis swap (gas/power spread)

I found an old ENMAX confirm but I don't have a word version; I'm know we've
done others possibly in draft format

let me know if you have questions.

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com


---------------------- Forwarded by Robert Badeer/HOU/ECT on 08/17/2000 10:28
AM ---------------------------

Carla Hoffman
08/16/2000 09:09 AM
To: Tim Belden/HOU/ECT@ECT, Robert Badeer/HOU/ECT@ECT, Jeff
Richter/HOU/ECT@ECT, Phillip Platter/HOU/ECT@ECT, Mike Swerzbin/HOU/ECT@ECT,
Diana Scholtes/HOU/ECT@ECT, Sean Crandall/PDX/ECT@ECT, Matt
Motley/PDX/ECT@ECT, Mark Guzman/PDX/ECT@ECT, Tom Alonso/PDX/ECT@ECT, Mark
Fischer/PDX/ECT@ECT
cc:
Subject: DJ Calif Generators: `We Welcome Probe Into Power Market' - DJ Ca
lif ISO Urges FERC To Reject Pwr Producers' Complaint

---------------------- Forwarded by Carla Hoffman/PDX/ECT on 08/16/2000 09:16
AM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Pergher, Gunther" <Gunther.Pergher@dowjones.com>
     08/16/2000 06:11 AM

To: "Golden, Mark" <Mark.Golden@dowjones.com>
cc:  (bcc: Carla Hoffman/PDX/ECT)
Subject: DJ Calif Generators: `We Welcome Probe Into Power Market' - DJ Ca
lif ISO Urges FERC To Reject Pwr Producers' Complaint

12:15 GMT 16 August 2000
=DJ Calif Generators: `We Welcome Probe Into Power Market'  (This article
was originally published Tuesday)       By Jason Leopold     OF DOW JONES
NEWSWIRES    LOS ANGELES (Dow Jones)--When California Attorney General Bill
Lockyer completes his investigation into possible "collusion" in the
wholesale electricity market by generators, energy companies say he will
probably find the same thing Geraldo Rivera found in Al Capone's safe:
nothing.  Still, those companies that own generation in the state say they
welcome the probe into the power market by Attorney General Bill Lockyer.
"We have done nothing wrong at all," said Tom Williams, spokesman for Duke
Energy North America (DUK). "Our plants have been running all summer long.
Prices are high throughout the west. We wouldn't invest $1.7 billion in new
generation and then try and rig the market."  For the past two months,
utilities, lawmakers and other market participants have made allegations
that generators are manipulating the market and are largely responsible for
the price spikes.  Locker's office said an investigation is still pending.
State regulators are also conducting their own investigation, the findings
of which will be submitted to the governor and the Federal Energy Regulatory
Commission by the end of the year.  Allegations Said Unsubstantiated  There
isn't a shred of evidence to support allegations, said Severing Borenstein,
director of the University of California, Berkley's, Energy Institute.
"There are no antitrust laws that state you can't charge a premium price for
power," Borenstein said. "Manipulation is a bad word. That's used in the
commodities market to find a loophole and take advantage of the rules.  "I
would say this is exercising market power. ... If you want to charge high
prices you can. These are guys who play against each other every day. There
is no sort of collusion that would interest the justice department ... ."
The reason for the inquiry ordered By Gov. Gray Davis, he said, is as a
consequence of San Diego consumers being the first in the nation to pay
market-based rates for electricity.  The high wholesale costs paid by
utility San Diego Gas & Electric, a unit of Sempra Energy (SRE), were passed
on to ratepayers and resulted in utility bills more than doubling.  Gov.
Davis ordered the inquiry and asked federal regulators to conduct their own
investigation as well.  Dynegy (DYN) President Steve Bergstrom also says
that an investigation "will turn up nothing."  So why conduct one?  "This is
a very politically charged issue," Bergstrom said. "When something goes
wrong you have to find someone to point the finger at."  A source in the
governor's office said Davis is aware that Attorney General Lockyer's
investigation may turn up nothing, but Gov. Davis "has a responsibility to
his constituents."  Supply vs. Demand  What the investigation will turn up
is evidence that there is a shortage of power in the state and not enough
power plants being built to meet increasing demand, said Terry Winter,
chairman and chief executive officer of the California Independent System
Operator.  Winter said he doesn't believe that there is anything wrong with
the way generators sell their power and 98% of the time the market works
well.  "Is it market abuse to bid at the price cap ($250 per megawatt-hour)
knowing that you're 1,000 MW short? I have trouble identifying that as
market power abuse," Winter said.  Despite some proposed regulatory changes,
such as bid caps on wholesale energy prices and a rate freeze for SDG&E
customers, Duke Energy, Dynegy, Southern Co. (SO) and Reliant (RLI) all
still plan to invest in generation in the state.  That's a different stance
than the companies took a month ago when the ISO reduced the wholesale price
cap in the real-time market to $250/MWh.  "At the end of the day the market
is short power and you got to get people to build new generation," said
Dynegy's Bergstrom. "We got a big investment in California. We're not
walking away from that."  -By Jason Leopold, Dow Jones Newswires;
323-658-3874; jason.leopold@dowjones.com Copyright (c) 2000, Dow Jones &
Company Inc
12:15 GMT 16 August 2000 DJ Calif ISO Urges FERC To Reject Pwr Producers'
Complaint
(This article was originally published Tuesday)
WASHINGTON (Dow Jones)--California's power grid administrator Monday urged
federal regulators to reject a complaint from power producers seeking
compensation in the event out-of-state power transactions are curtailed
during an extreme power grid emergency.
The independent system operator told the Federal Energy Regulatory
Commission that the power producers seek compensation in the event of a
"situation that never has occurred any time since the ISO began operations,
and if it were to occur in the future, would do so rarely."
The ISO noted that its tariff governing access to the state's grid already
allows for compensation in the event of curtailed exports, and decried the
power producers' complaint as "a collateral attack" on a previous FERC order
rejecting claims that the tariff failed to provide adequate compensation.
Curtailing scheduled power transactions and exports would be a last resort
measure taken only after other options have been exhausted, the ISO said.
The power producers should adjust their contracts to factor in the risk of
interruption in the event of a state-wide grid emergency, the ISO said.
The ISO's objections were echoed by the state's electricity distribution
utilities and California regulators.
They complained that the power producers are merely trying to get out from
under the price controls the ISO has imposed in an effort to rein in
skyrocketing power prices this summer.
The generators "knew when they purchased California power plants and when
they entered into their export contracts that the ISO could alter their
schedules in an emergency. For them to ask the commission to make it even
more expensive, and hence, more difficult, for the ISO to maintain grid
reliability in California is irresponsible," said Southern California
Edison, a unit of Edison International (EIX).
"The complaint is a sham," declared the California Public Utilities
Commission.
"The true intent of the complaint ... is to avoid the ISO price caps by
making sales to affiliates or cooperating entities located out of state, and
sell the power back to the ISO at uncapped prices reflecting the generators'
market power," the PUC said, calling for FERC to summarily reject the
complaint.
"The complaint is factually unsupported, legally unfounded, complains of
conduct consistent with the ISO's authority under pertinent FERC decisions,
and seeks to avoid the price cap," the PUC said.
But power marketers and other power producers voiced support for the
complaint, filed Aug. 3 by Reliant Power Generation Inc. (REI), Dynegy Power
Marketing Inc. (DYN) and Southern Energy California (SO).
"By subjecting curtailed energy transactions to its maximum purchase price
of $250, and simply ignoring the financial impact on sellers, the Cal ISO
would be overtly discriminating against export transactions and market
participants who schedule energy for export," said the Electric Power Supply
Association, the national trade group representing competitive power
producers.
"It is critical that power producers ... know with certainty that the
curtailment of scheduled energy exports by Cal ISO will be compensated,"
said Morgan Stanley Capital Group Inc.
"Now that the ISO Governing Board has lowered purchase price caps to $250,
it is significantly more likely that the curtailment of exports will occur
more frequently. Less energy will be imported into California and more
energy will leave California in search of higher prices," said Williams
Energy Marketing & Trading Co. in support of the complaint's call for actual
damages and lost opportunity costs.
At least one power purchaser voiced support for the producers' position as
well.
"It seems a very basic point that if the Cal ISO must divert the
transactions of others to meet its own loads, that is should pay the full
costs of doing so," said the Northern California Power Agency.
-By Bryan Lee, Dow Jones Newswires; 202-862-6647; bryan.lee@dowjones.com
Copyright (c) 2000, Dow Jones & Company Inc

G_nther A. Pergher
Senior Analyst
Dow Jones & Company Inc.
Tel.  609.520.7067
Fax. 609.452.3531

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

 <<Gunther Pergher (E-mail).vcf>>
 - Gunther Pergher (E-mail).vcf


---------------------- Forwarded by Mike Carson/Corp/Enron on 07/18/2000
03:49 PM ---------------------------

"Wodenshek, Chris" <CWodenshek@cantor.com> on 07/18/2000 02:11:36 PM
To: "'john.zufferli@enron.com'" <john.zufferli@enron.com>,
"'rogers.herndon@enron.com'" <rogers.herndon@enron.com>,
"'mike.carson@enron.com'" <mike.carson@enron.com>
cc:

Subject: FW: Fishingtrip Nat gas /electricity

Joh,Rogers and Mike,
The attached details a fishing trip we would like to invite the three of you
to.  We need to reserve boats and hotels soon so check and let me know if
you can make it.

Thanks
Chris and Buck

> -----Original Message-----
> From: McNally , Mike
> Sent: Thursday, July 13, 2000 12:17 PM
> To: Wodenshek, Chris
> Cc: Beaman, Rick
> Subject: Fishingtrip Nat gas /electricity
>
>  <<Fishing trip 81500.doc>>

 - Fishing trip 81500.doc


Hi boy, How are you?

I thing Mexico are better than USA.

Let me call you

-----Original Message-----
From: John.Griffith@enron.com [mailto:John.Griffith@enron.com]
Sent: Wednesday, February 28, 2001 12:16 PM
To: Antonio Paez
Subject: Re: Hi!!!!!

---------------------- Forwarded by John Griffith/Corp/Enron on 02/28/2001
11:13 AM ---------------------------

John Griffith
02/28/2001 11:15 AM

To:   "Antonio Paez" <paez1000@hotmail.com>
cc:

Subject:  Re: Hi!!!!!  (Document link: John Griffith)

Tony,

Whats up?  Hey I think that Mexico is playing US tomorrow in Ohio for the
World Cup qualifying.  Is Mexico any good?  Should we wager on the match?
Hope things are going well with you.  Talk to you soon.

My work number is (713) 853-6247 if you want to call me anytime.  I got a
promotion.  I am now trading Natural Gas Options.  We trade them over the
internet also.  We have a website (Enron Online) that we make markets on
many different commodities and we just started making option markets in
natural gas a couple of months ago.  I am helping with this.

Tell your family hi and have a great day.

John


Deborah Abramson
730 W 183rd Street
New York, NY 10033
abramson@cami.com

To Mr. Ken Lay,

I'm writing to urge you to donate the millions of dollars you made from selling Enron stock before the company declared bankruptcy to funds, such as Enron Employee Transition Fund and REACH, that benefit the company's employees, who lost their retirement savings, and provide relief to low-income consumers in California, who can't afford to pay their energy bills.  Enron and you made millions out of the pocketbooks of California consumers and from the efforts of your employees.

Indeed, while you netted well over a $100 million, many of Enron's employees were financially devastated when the company declared bankruptcy and their retirement plans were wiped out.  And Enron made an astronomical profit during the California energy crisis last year.  As a result, there are thousands of consumers who are unable to pay their basic energy bills and the largest utility in the state is bankrupt.

The New York Times reported that you sold $101 million worth of Enron stock while aggressively urging the company's employees to keep buying it.  Please donate this money to the funds set up to help repair the lives of those Americans hurt by Enron's underhanded dealings.

Sincerely,

Deborah Abramson


Audrey,

	Go ahead and send a payment out to Willamette for the items listed below

					Thanks
					   Chris

Lester Rawson
04/17/2001 08:41 AM
To:	Audrey Cook/HOU/ECT@ECT, Chris Stokley/HOU/ECT@ECT
cc:
Subject:	Willamette Sept. and Oct

Chris,

Audrey have tied out on numbers for Willamette for Sept and Oct.

Sept. Payment of $6897.32

Oct. Payment of $ 48,005.05

These numbers are based on CARP and the estimates from Audrey.

Les


Here's the Canadian Holiday Schedule for 2002.....


I am buying a benelli - should i get the super black eagle that shoot 3 1/2 inch shells or a sporting gun that is about the same price???????


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The STOCK INDEXES The Nasdaq and S&P's closed lower on Wednesday as
chip and hardware stocks fell due to concerns over corporate profits.
Salomon Smith Barney lowered its rating on the chip equipment group,
citing a capital-spending freeze of up to six months at Intel. The
Dow closed higher on Wednesday due in part to strength in Philip
Morris, J.P. Morgan and Johnson & Johnson. Early strength tested last
week's high crossing at 10,917.30, which marks short-term resistance.
Multiple closes above this resistance level would open the door for a
possible year end rally that could lead to an eventual test of last
spring's high crossing at 11,425.40 later this winter.

INTEREST RATES March bonds gapped up and surged to a new contract
high thereby renewing this fall's rally. Weakness in the Nasdaq and
S&P's underpinned today's rally in bonds in part due to a safe-haven
move by some investors. Today's high-range close sets the stage for
sharply higher prices on Thursday should November's Producer Price
Index come in weaker than expected. If the rally in March bonds
continues, weekly resistance crossing at 106-10 is the next upside
objective later this winter.

CRB INDEX extended Tuesday's loss and confirmed a downside breakout
below the lower boundary of this month's symmetrical triangle and
filled November's gap at 227.58. Today's decline confirms the rally
off the late-October low has come to an end while marking a broad
double top on the daily chart. If the decline continues, fib support
crossing at 225.87 is the next downside target. Much of today's
pressure was due to weakness in precious metals, foods, fiber, and
energies.

ENERGIES The energy markets closed sharply lower on Wednesday due to
liquidation of Brent crude oil ahead of Thursday's January contract
expiration. The sell off was some what of a surprise following recent
industry data, which showed crude and heating oil stocks fell last
week and indications that Iraq has not fully resumed crude oil sales.
February crude oil posted a key reversal down today thereby ending
this week's short covering rebound. Additional weakness on Thursday
is needed to confirm today's reversal pattern. If this fall's decline
resumes, fib support crossing at 27.37 is the next target. February
heating oil also closed sharply lower on Wednesday and is challenging
key support crossing at 88.10. Multiple closes below this support
level could lead to a test of the 38% retracement level of the
1999/2000- advance crossing at 84.11 later this winter.

CURRENCIES the March Dollar closed higher on Wednesday as it renewed
its short covering rebound off last week's low. Today's rally was
underpinned by Tuesday's U.S. Supreme Court decision to halt the
manual recount thereby giving the election to George W. Bush.
Momentum indicators have turned bullish signaling sideways to higher
prices into the end of the year are possible. Today's mid-range close
leaves the door open for sideways trading on Thursday. The March
Swiss Franc and D-mark closed lower on Wednesday as they extend their
declines off last week's highs. Momentum indicators have turned
bearish warning additional weakness into the end of the year is
possible. The March Japanese Yen plunged to a new contract low in
overnight trading and held onto those losses during the day session.
Concerns over the Japanese economy and the U.S. Supreme Court ruling
triggered the sell off. The door is open for a test of last
February's low crossing at .8978 then fib support crossing at .8774
later this winter.

PRECIOUS METALS were closed lower on Wednesday. February gold resumed
its decline off last week's high and closed below November's uptrend
line crossing near 271.80 thereby confirming a short-term top has
been posted. Momentum indicators are bearish signaling sideways to
lower prices into the end of the year are possible. Support begins at
266.80. March silver also closed lower on Wednesday ending this
week's short covering bounce. Today's new low close for the week and
test of support crossing at 4.69 sets the stage for additional
weakness into the end of the year. If the decline continues, weekly
support crossing at 4.56 cents is March's next target. March copper
extended Tuesday's loss in relatively narrow trading but pulled up
short of testing November's uptrend line crossing near 87.75. A short
covering bounce ahead of the close tempered some of today's losses
leaving the door open for additional short covering on Thursday.
Nevertheless, momentum indicators are overbought and turning bearish
signaling additional weakness near-term is possible. Closes below
November's uptrend line would confirm a top and trend change has
taken place.

GRAINS closed mixed on Wednesday. March corn posted a key reversal up
Wednesday due to expectations that tomorrow's export sales report
will show a significant improvement from recent weeks. Confirmation
of improving export sales on Thursday could lead to further short
covering thereby turning a number of momentum indicators neutral to
bullish. Such a turnaround in the near-term price outlook could lead
to year-end rebound however, it will take closes above 2.22 1/4
before a low is confirmed. March wheat closed lower on Wednesday as
traders are struggling to find direction following Tuesday's key
reversal down in the face of a friendly supply and demand report.
Traders remain concerned over lagging export sales and expect to see
another week of slow export sales in Thursday's report. March is
challenging trading range support crossing at 2.69. If this support
level is broken, the fall low at 2.63 1/2 then long-term support at
2.50 are possible targets. Momentum indicators are bearish signaling
additional weakness is possible.

SOYBEAN COMPLEX closed mixed on Wednesday. March beans managed to
squeak out a fractional gain on Wednesday as it continues to
consolidate below the 75% retracement level of this fall's decline,
which crosses at 5.20. While Tuesday's supply and demand report was
friendly, the increase in export sales and drop in carryout was
already factored into prices. March beans are at a crossroads as a
lack of fresh news is limiting gains while solid demand continues to
underpin the market. Closes above 5.20 or below trendline support
crossing near 5.12 are needed to clear up near-term direction in the
market. March soybean meal closed slightly lower on Wednesday due to
light profit taking as it consolidated some of its recent gains.
March continues to extend the late-fall trading range despite
Tuesday's friendly supply and demand report. Closes above 189.50 or
below 182.30 are needed to clear up near-term direction in the
market. March bean oil posted an inside day with a slightly higher
close due to light short covering as it consolidated some of this
week's losses. However, today's low-range close leaves the door open
for a resumption of the decline off this month's high. Momentum
indicators are bearish signaling a test of November's low crossing at
15.05 is possible later this winter.

LIVESTOCK closed steady on Wednesday. February hogs posted a quiet
inside day with a steady close as it consolidated some of Tuesday's
loss. However, momentum indicators are diverging and turning bearish
warning traders that a broad double top may have been posted with
Monday's spike high. A resumption of this week's decline on Thursday
would set the stage for a test of trendline support crossing near
57.50. If the late fall rally resumes, weekly resistance crossing at
63.30 is the next upside target. February cattle also closed steady
after early strength tied to winter storm concerns and expectations
for higher cash bids gave way to light profit taking ahead of the
close. Today's high fell short of testing weekly resistance crossing
at 77.92. Momentum indicators have become very overbought warning
traders that much of the bullish news from higher cash and product
prices underpinned by surprisingly strong demand may have already
been discounted in prices. Closes below Tuesday's low at 76.50 would
be a clear warning to bulls that a short-term top may be in or near.

FOOD & FIBER markets were mixed on Thursday. March coffee posted
another quiet inside day with its lowest close ever while May fell
within 20 cents of the contract low. Forecast for rain across
Brazil's coffee growing region this weekend combined with last week's
bearish world crop estimate continues to weigh on prices. March cocoa
gave us the short covering bounce we were looking for following
Tuesday's high-range close. Additional short covering is possible
however, upside potential appears limited in the face of continued
origin selling that may last into the end of the year. March sugar
finally resumed its decline off November's high after drifting
sideways for the past week and a half. Renewed fund and speculator
selling due to a lack of cash trade activity triggered today's plunge
to new lows. Momentum indicators are bearish signaling sideways to
lower prices are possible. If the decline continues 930, then 867 are
the next targets. March cotton extended Tuesday's trendline breakout
thereby confirming this week's gap marked a downside breakaway gap.
Today's loss sets the stage for a likely test of October's low
crossing at 63.75 cents later this winter. Bearish fallout from
Tuesday's negative supply and demand report continues to weigh on
prices. I would not be surprised to see a short covering bounce on
Thursday especially if export sales come in above pre-report
expectations.

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_____________________________________________________________________

T O P   N E W S
_____________________________________________________________________

STOCKS

Japan Stocks Review: Up 0.4% as US ruling boosts Nasdaq futures
http://news.ino.com/summary/?id=24067
US Equities Review: Nasdaq down 3% on profit woes; DJIA climbs
http://news.ino.com/summary/?id=24076
UK Stocks Review: FTSE 100 closes flat in low volumes
http://news.ino.com/summary/?id=24075

FOREX

US FX Review: Dollar up on Bush's Supreme Court victory
http://news.ino.com/summary/?id=24069
Asia FX Review: Dlr/yen hits new year high on BOJ tankan, US politics
http://news.ino.com/summary/?id=24066
Europe FX Review: Dlr off early highs, but Gore aids at close
http://news.ino.com/summary/?id=24068

CREDIT

US Credit Review: Treasuries jump on weak retail sales report
http://news.ino.com/summary/?id=24064
Europe Credit Review: Bonds unfazed by Gore concession reports
http://news.ino.com/summary/?id=24071
Japan Credit Review: Mar plunges to offset gains on weak BOJ tankan
http://news.ino.com/summary/?id=24074

COMMODITIES

US Futures Summary: Energy plummets; sugar, juice sag
http://news.ino.com/summary/?id=24073
Japan Commodity Summary: Japan's Tokyo, Yokohama agricultural commodities
futures prices
http://news.ino.com/summary/?id=24070
CRB Outlook: Starting slightly firmer on cocoa and platinum
http://news.ino.com/summary/?id=24072

EXCHANGES

PCX Board Approves Demutualization, Screen-Based Trading
http://news.ino.com/press/index.cgi?release=23022
Pacific Exchange to Trade Eleven New Options
http://news.ino.com/press/index.cgi?release=23021
10 Major Clearing Organizations Call For Global Central Clearing
http://news.ino.com/press/index.cgi?release=23020
OM Stockholm Announces New Fee Structure
http://news.ino.com/press/index.cgi?release=23019
EEX Derivatives Market Starts In First Quarter 2001
http://news.ino.com/press/index.cgi?release=23018

____________________________________________________________________________

E X T R E M E   F U T U R E S
____________________________________________________________________________

Updated every 10 minutes around the clock.
More at http://quotes.ino.com/analysis/extremes/futures/

WINNERS

DBU1   Butter Sep 2001                           125.525     3.525  +2.92
XNH1   Treasury Notes 10yr Mar 2001            104 07/32     82/32  +2.48
PNJ1   Propane Apr 2001                           0.5410    0.0100  +1.83
XHZ0   Lean Hogs Dec 2000                          58.82      0.95  +1.65
LHZ0   Lean Hogs Dec 2000                         58.875     0.950  +1.65
AGZ1   Silver 1,000 oz. Dec 2001                   4.990     0.080  +1.59
LBH1   Random Length Lumber Mar 2001              233.10      3.10  +1.34
BEH1   Brazilian EI Bonds Mar 2001                 91.80      1.10  +1.20
BRZ1   Brazilian Real Dec 2001                   0.47650   0.00500  +1.06
SYH1   British Pound/Japanese Yen Mar 2001        161.21      1.64  +1.03

LOSERS

NGF1   Henry Hub Natural Gas Jan 2001              7.537    -0.608  -6.46
HOF1   Heating Oil Jan 2001                       0.9097   -0.0515  -5.24
PAM1   Palladium Jun 2001                         888.45    -37.70  -4.12
NDZ0   NASDAQ 100 Index Dec 2000                 2745.00   -121.50  -4.08
CLZ6   Light Sweet Crude Oil Dec 2006              21.08     -0.87  -3.92
GIZ0   Goldman Sachs Commodity Index Dec 2000     240.05     -9.70  -3.77
TKH1   PSE Tech 100 Mar 2001                      896.00    -34.00  -3.66
PBQ1   Frozen Pork Bellies Aug 2001               67.875    -1.925  -2.70
OJF1   Orange Juice Froz. Conc. #1 Jan 2001        81.10     -2.05  -2.46
SBH1   Sugar #11 World Mar 2001                     9.41     -0.23  -2.38
____________________________________________________________________________

E X T R E M E   S T O C K S
____________________________________________________________________________

Updated every 10 minutes around the clock.
More at http://quotes.ino.com/analysis/extremes/stocks/

WINNERS

SPLN   SPORTSLINE.COM INC                          6 5/8   1 18/32  +30.86
MTON   METRO ONE TELECOMMUN                           23   4 14/32  +24.07
SMDK   SMARTDISK CORP                            5 14/32    1 2/32  +23.94
SBSA   SPANISH BROADCASTING SYS'A'                     7   1 10/32  +22.83
CMTL   COMTECH TELECOMMNS                             14     2 3/8  +20.88
MAXY   MAXYGEN INC(IPO)                               27   4 27/32  +20.18
NTOP   NET2PHONE INC                            11 22/32     1 7/8  +19.23
PGTV   PEGASUS COMMUNICATIONS'A'                      22     3 3/8  +18.12
CSCC   THRUSTMASTER INC                           12 3/8     1 7/8  +17.86
OVTI   OMNIVISION TECHNOLOGIES                  10 30/32   1 18/32  +17.36

LOSERS

HDIIU  HYPERTENS'N DIAGNOSTIC UNIT                     7    -2 3/4  -27.50
RSYS   RADISYS CORP                               21 1/2  -6 22/32  -23.73
ONNN   ON SEMICONDUCTOR CORP                     6 19/32   -2 2/32  -23.57
PHHM   PALM HARBOR HOMES                              13  -3 23/32  -23.38
AVSR   AVISTAR COMMUNICATIONS                      5 5/8    -1 3/4  -23.33
AVCT   AVOCENT CORP                               32 5/8       -10  -23.32
PBKBP  PEOPLE'S BANCSHRS CAP TR 9.76%                  7   -2 3/32  -23.18
HRLY   HERLEY INDUSTRIES                              17        -5  -22.79
CKCM   CLICK COMMERCE                                 19  -5 14/32  -22.77
RC     GRUPO RADIO CENTRO ADS                      6 3/8  -1 26/32  -22.66

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My user ID is jhodge2.

Ina Rangel@ECT
05/01/2001 03:16 PM
To:	Chris Meyer/Enron@EnronXGate, Deirdre McCaffrey/Enron@EnronXGate, Laura Luce/Corp/Enron@Enron, Sylvia S Pollan/Enron@EnronXGate, Scott Hendrickson/HOU/ECT@ECT, Vladi Pimenov/NA/Enron@Enron, Craig Taylor/HOU/ECT@ECT, David Jones/NA/Enron@ENRON, Frank W Vickers/NA/Enron@Enron, Gil Muhl/Corp/Enron@ENRON, Jared Kaiser/HOU/ECT@ECT, John Hodge/Corp/Enron@ENRON, John M Singer/Corp/Enron@ENRON, Maureen Smith/HOU/ECT@ECT, Nelson Ferries/Corp/Enron@ENRON, Robin Barbe/HOU/ECT@ECT, Ruth Concannon/HOU/ECT@ECT, Tammi DePaolis/Corp/Enron@ENRON, Derek Bailey/Corp/Enron@ENRON, Eric Feitler/Enron@EnronXGate, Matthew Frank/ENRON@enronXgate, Barry Tycholiz/NA/Enron@ENRON, Kim Ward/Enron@EnronXGate, Stephanie Miller/Enron@EnronXGate, Philip Polsky/Enron@EnronXGate
cc:	Amanda Huble/Enron@EnronXGate

Subject:	User ID's Needed

Please forward me your login ID for the gas fundy site.   There will be security measures to enter this site now and your login id is needed.


The above referenced meeting has been rescheduled for 8:00 p.m. tonight.  If you are unable to stay, please dial-in.  The numbers are listed below.  A thousand apologizes for the last minute notice.

						Domestic dial-in # 800.713.8600
						Int'l dial-in # 801.983.4017
						Passcode # 54536

Many Thanks,

Liz Taylor
Exec. Assistant to Greg Whalley
Office of the Chairman
Enron Corporation
Tel.   713.853.1935
Fax   713.853.1838

 -----Original Message-----
From: 	Taylor, Liz
Sent:	Wednesday, November 07, 2001 3:46 PM
To:	Lay, Kenneth; Frevert, Mark; McMahon, Jeffrey; Buy, Rick; Causey, Richard; Derrick Jr., James; Kean, Steven J.; Koenig, Mark; Colwell, Wes; Rieker, Paula; Tilney, Elizabeth; Olson, Cindy; Oxley, David; Palmer, Mark A. (PR); Bowen Jr., Raymond; Brown, Michael - COO London; Fallon, Jim; Haedicke, Mark E.; Kitchen, Louise; Lavorato, John; Mcconnell, Mike; Shankman, Jeffrey A.; Sherriff, John; Delainey, David W.; Dietrich, Janet; Leff, Dan; Horton, Stanley; Hughes, James A.; Hayslett, Rod; McCarty, Danny; Beck, Sally; Piper, Greg; Pickering, Mark; Joyce, Mary; Sherrick, Jeffrey; Garland, Kevin; Stanley, Brian; Metts, Mark
Cc:	Fleming, Rosalee; Daw, Nicki; Ford, Sue; Heathman, Karen K.; Westbrook, Sharron; Harris, Stephanie J ; McVicker, Maureen; Valencia, Laura; Tijerina, Shirley; Johnson, Kelly; Power, Bobbie; Clyatt, Julie; Schiller, Marsha; Marshall, Lucy; Elbertson, Janette; Schoppe, Tammie; Brooks, Loretta; Phillips, Cathy; Burns, Jennifer; Chapman, Kay; Stark, Cindy; Blackwood, Connie; Armstrong, Julie; Spiller, Tina; Wright, Teresa; Costello, Lisa; Valdez, Christina; Campos, Kathy; Hiltabrand, Leslie; Brown, Ruth Ann; Rushing, Rebekah
Subject:	Management Meeting - Wednesday, November 7 @ 6:30 p.m. in ECN 49C1

There will be a management meeting in ECN 49C1 @ 6:30 p.m.  Please notify me only if you are unable to attend.

		Int'l dial-in number# 801.983.4017 (for John Sherriff & Michael Brown)
		Passcode # 54536

Many Thanks,

Liz Taylor
Exec. Assistant to Greg Whalley
Office of the Chairman
Enron Corporation
Tel.   713.853.1935
Fax   713.853.1838


Jeff --
I hope Jim Steffes already discussed this conference with you and I'm not spoiling the surprise!!  I'm helping Laurie Malone pull presentation material for the conference. Lynette Barnes is pulling together general electric and gas regulatory information for all of the states except California and said you would be the source for California update info. Do you have a standard pitch that you use or have other ideas about the content of the presentation?

Thanks,
Shirleen

---------------------- Forwarded by Shirleen Glasin/HOU/EES on 08/16/2001 02:32 PM ---------------------------

James E Keller
08/16/2001 01:32 PM
To:	Laurie Malone/HOU/EES@EES, Shirleen Glasin/HOU/EES@EES
cc:
Subject:	Law Conference

I spoke with Jim Steffes this week and he recommended that we substitute Jeff Dasovich for the speaker at the law conference.  Jeff is more attuned to the regulatory environment in the west and is only a short flight to the conference.  I support this recommendation, so unless there is a major problem, I will hand off to Jeff.
		Jim


The report named: CE P/L <http://trv.corp.enron.com/linkFromExcel.asp?report_cd=4&report_name=CE+P/L&category_cd=3&category_name=CENTRAL&toc_hide=1&sTV1=3&TV1Exp=Y&current_efct_date=10/19/2001>, published as of 10/19/2001 is now available for viewing on the website.


yes

 -----Original Message-----
From: 	Hundl, Kimberly
Sent:	Thursday, November 15, 2001 10:45 AM
To:	Shackleton, Sara
Subject:	RE: Reliant Energy Services, Inc.

yes, i have it attached to our PowerMaster Swap template -for counterparties who have a master agreement in place other than an ISDA.  is that correct?

 -----Original Message-----
From: 	Shackleton, Sara
Sent:	Thursday, November  15, 2001 10:33 AM
To:	Hundl, Kimberly
Subject:	RE: Reliant Energy Services, Inc.

yes, and the template should not be an ISDA template

 -----Original Message-----
From: 	Hundl, Kimberly
Sent:	Thursday, November 15, 2001 10:32 AM
To:	Shackleton, Sara
Subject:	RE: Reliant Energy Services, Inc.

so, should I use the same "corrections to published prices" language that we use in the omnibus templates?

 -----Original Message-----
From: 	Shackleton, Sara
Sent:	Thursday, November  15, 2001 10:30 AM
To:	Hundl, Kimberly
Subject:	Reliant Energy Services, Inc.

Kim:  We are still negotiating the ISDA with Reliant and are booking deals under an old ERMS form of Master Agreement (which will eventually be superceded).

Sara Shackleton
Enron Wholesale Services
1400 Smith Street, EB3801a
Houston, TX  77002
Ph:  (713) 853-5620
Fax: (713) 646-3490


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Please disregard the memo below and the following will apply for 8/4/00:

Deliveries to Eastrans will be 7,800 MMBtu/dy
Redeliveries into HPL from Fuels Cotton Valley

For 8/5, 8/6, & 8/7 (Saturday, Sunday & Monday) deliveries to Eastrans will be
7,800 MMBtu/dy (23,400 MMBtu for 3 days).  The deliveries of this gas will
occur
in a batch on Monday, 8/7.
Redeliveries into HPL from Fuels Cotton Valley
---------------------- Forwarded by Marta K Henderson/Houston/PEFS/PEC on
08/03/2000 11:21 AM ---------------------------

Marta K Henderson
08/03/2000 08:58 AM

To:   Darrel F. Bane/EastTexas/PEFS/PEC@PEC, John A. Bretz/GCS/CEC/PEC@PEC,
Chad
      W. Cass/GCS/CEC/PEC@PEC, Michael R. Cherry/EastTexas/PEFS/PEC@PEC, Bruce
      McMills/FtWorth/PEFS/PEC@PEC, William E. Speckels/GCS/CEC/PEC@PEC, Donna
      C. Spencer/GCS/CEC/PEC@PEC, Julia A. Urbanek/GCS/CEC/PEC@PEC, Dora J.
      Levy/GCS/CEC/PEC@PEC, briley@enron.com, dfarmer@enron.com,
      carlos.j.rodriguez@enron.com, Sharon Beemer/FtWorth/PEFS/PEC@PEC, Connie
      Wester/EastTexas/PEFS/PEC@PEC
cc:

Subject:  Eastrans Nomination changes effective 8/4/00

Please increase deliveries to Eastrans to 30,000 MMBtu/dy effective 8/4/00

The redeliveries will be:

7,800 from Fuels Cotton Valley
22,200 to PG&E


Please prepare language per terms of the attached credit worksheet and
provide such language to Barry T. and Kim W. for review.

Thanks
brant

---------------------- Forwarded by Brant Reves/HOU/ECT on 01/22/2001 09:10
AM ---------------------------

Brant Reves
01/22/2001 08:48 AM
To: Barry Tycholiz/NA/Enron@ENRON, Kim Ward/HOU/ECT@ECT
cc:
Subject: El Paso credit terms

FYI,

Someone requested I resend this language.

---------------------- Forwarded by Brant Reves/HOU/ECT on 01/22/2001 08:47
AM ---------------------------

Brant Reves
01/19/2001 02:17 PM
To: Kim Ward/HOU/ECT@ECT, Barry Tycholiz/NA/Enron@ENRON
cc: Edward Sacks/Corp/Enron@Enron, Tracy Ngo/PDX/ECT@ECT, Wendy
Conwell/NA/Enron@ENRON
Subject: El Paso credit terms

Kim/Barry,

Situation 1:
The following credit matrix could be included within Section 12 of the
Jan'02-Dec'03 transaction between ENA and El Paso Electric Company.

STANDARD & POOR'S RATING EVENT	CREDIT LINE
BBB- or Above	Open
BB+	$10,000,000
BB	$5,000,000
BB- or Below	$0

Situation 2:
Without credit lines, the credit reserve for this deal would be $450,000.

In addition, the most recent S&P write-up is attached below.

brant

Research:
                                                                  Return to
Regular Format
  Summary: El Paso Electric Co.
  Publication Date:
              01-Aug-2000
  Analyst:
              Judith Waite, New York (1) 212-438-7677

 Credit Rating:
                                       BBB-/Stable/--

  Rationale

    Debt reduction, cost cutting, and increased sales have brought El Paso
Electric Co. back toward
    investment-grade benchmarks. The company has exceeded debt-reduction
targets and expects debt to be
    about 50% of total capital by 2002. If sales continue to grow at even
one-half the historical 3% to 4% per year,
    cash flow interest coverage should improve to 3.5 times by then. Still,
the ratings on El Paso Electric continue to
    reflect the company,s high leverage, dependence on nuclear power, high
fixed costs, and high rates.

    The company borrowed heavily to fund its 15.8% interest in the Palo Verde
nuclear plant, which supplies 50% of
    the utility,s power. The plant,s past operating problems and continued
structural problems add some risk to the
    company,s already weak financial profile. Most importantly, customers in
the generally low-income service
    territory fought against rate increases needed to recover the nuclear
investment, helping to put El Paso Electric
    in bankruptcy. A settlement signed with Texas customers in 1995 allowed
the company to keep a $25 million
    rate increase implemented in 1994, permitted accelerated depreciation of
generation and transmission assets,
    and froze rates until 2005 in exchange for extending the El Paso Electric
franchise.

    In 1998, the company agreed to reduce rates--mainly residential--in New
Mexico and Texas, bringing them
    more in line with Southwestern averages. By the time retail competition
comes to either state (2002), El Paso
    Electric will have a fairly competitive cost structure which should allow
them to retain retail customers. By that
    time, El Paso Electric will have separated its assets into a regulated
transmission and distribution business
    and an unregulated electricity generation business, as required by New
Mexico and Texas law. Costs incurred
    to effect this change will be recovered in a competitive transition
charge. Stranded costs (accrued charges
    related to generating plant costs which would have been recovered in a
regulated market) will be recovered over
    a five-year transition period in New Mexico. In Texas, the rate
settlement allowed El Paso to recover those costs
    through accelerated depreciation over the 10-year period of the
settlement agreement.

    In the wholesale market, El Paso successfully renegotiated contracts with
the Comision Federal de
    Electricidad, the national utility of Mexico, to supply peaking capacity
in the summer months of 2000 and 2001,
    and with the Rio Grande Electric Cooperative Inc. to supply power to two
Texas cities over a four-year period.
    Importantly, El Paso Electric also reached a settlement with the city of
Las Cruces, N.M., ending a long dispute
    over that city,s threat to municipalize the electric distribution system.
Las Cruces sales account for about 8% of
    total revenue.


Start Date: 1/12/02; HourAhead hour: 22;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002011222.txt


This is getting confusing!! The counterparty to the Australian weather
derivatives will be Enron Australia, the comments and discussion is with
regards to the Japanese city weather derivatives, both OTC and on EOL.

	Susan Musch@ENRON_DEVELOPMENT
	07/07/00 23:26

		 To: David Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
		 cc: John Viverito/Corp/Enron@ENRON, Jonathan Whitehead/AP/Enron@Enron,
Nicholas.O'Day@enron.com@ENRON, Justin
Timothy/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Raymond
Yeow/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mark Taylor@ECT
		 Subject: Re: EOL GTC's for Weather Derivatives In Australia

David,

Based on the e-mail that I sent out on June 30th (and that I have attached
below), I was under the presumption that the Enron party to the GTCs would be
Enron Australia Finance Pty Ltd.  This is because we are dealing with
Australian weather derivatives and I was presuming (right or wrong) that such
derivatives would be on the books of the Sydney trading office.  Please let
me know if this is not the case.

Best regards,
Susan

David Minns
07/06/2000 12:35 AM
To: John Viverito/Corp/Enron@ENRON
cc: Jonathan Whitehead/AP/Enron@Enron, Nicholas.O'Day@enron.com@ENRON, Susan
Musch/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Justin
Timothy/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Raymond
Yeow/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mark Taylor@ECT

Subject: Re: EOL GTC's for Weather Derivatives In Australia

John please see attached GTCs for Australian weather. They are essentially
the same as the example that was forwarded to B&M when they got the brief to
advise on weather derivatives last month.

I understand that B & M are having second thoughts on the gambling question
and are due to come in with an advice on the point.

There is also a question as to whether the Enron party will be Enron
Australia Finance Pty. Ltd. or Enron Japan KK. From a tax perspective Susan
what would you prefer?

On a related issue what Enron company is on the Passwords Applications and
ETAs that are being sent out? Although from a legal perspective it does not
matter it may increase acceptance if it were Enron Japan KK.

From: John Viverito@ENRON on 05-07-2000 05:19 CDT
To: David Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Jonathan Whitehead/AP/Enron@Enron, Nicholas.O'Day@enron.com

Subject: EOL GTC's for Weather Derivatives In Australia

David-

Please forward an electronic copy of the EOL GTC's for weather derivatives in
Australia.  Thanks for your assistance.

Cheers,

John

Susan Musch
06/30/2000 11:30 AM
To: Jeff Blumenthal@ECT
cc: Heidi Mason/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, David
Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Stephen H Douglas@ECT, Paul
Quilkey/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT (bcc: Susan
Musch/ENRON_DEVELOPMENT)

Subject: Tax Advice on AUS and JPN CDD and HDD Weather Swaps

Below is a summary of the tax advice that I received from our outside
advisors in Tokyo and Sydney on the Sydney trading office entering into cash
settled weather derivative trades with Japanese counterparties:

Japanese Tax Advice

1. Swap, Options and Other Financial Derivative Transactions

Based on the current practice of the Japanese tax authorities, standard
swaps, options and similar financial transactions with symmetrical payment
flows should not be subject to withholding tax. However, to the extent that
Enron transactions involve asymmetrical payments, concern exists that imputed
interest from the imbedded loan could be subject to interest withholding tax.

2. Consumption Tax (VAT) and Excise Taxes

Although Japan imposes a 5% consumption tax (VAT), financial transactions are
generally not subject to the consumption tax, so cash settled derivative
transactions should generally not be subject to consumption tax.  Japan
imposes various kinds of excise taxes.  These excise taxes generally apply to
physical importation and domestic sale and delivery of covered products and
should generally not apply to purely financial derivatives transactions which
reference commodity prices.

3. Collateral for Derivatives Transactions

If Enron entities will take collateral from Japan-based customers in
connection with derivative transactions, depending upon the specific
arrangements, withholding tax liability might arise.  For example, if an
Enron trading entity takes cash collateral from a Japan-based customer and
pays interest on it, such interest payments could be subject to local
withholding tax when paid to the Japanese resident customer.

Australian Tax Advice

1. Swap, Options and Other Financial Derivative Transactions

Based on the summaries of the products attached to Justin Timothy,s June 12th
e-mail to Mario Parra Cardoso and Dale Neuner:

(1) the swap income or deduction should be recognized on a due and payable
basis (rather than on an accrual basis over the term of the swap), and
(2) there should not be any interest withholding tax imposed on the swap
payments because there does not appear to be any linkage between the swap
payment and "interest" as defined for Australian tax purposes.

Note that there is an Australian tax proposal to impose withholding tax on
other Australian source income.  Although no details are yet available, it is
expected that the Australian government will not impose withholding tax where
the income would constitute "business profits" of any entity in a treaty
country (such as Japan) which does not have permanent establishment in
Australia.  Thus, based on the current proposal, it is unlikely that such a
withholding tax, if enacted, would apply to the swap payments.  However, this
could change depending upon the rules actually enacted.

2. GST (VAT)

Effective July 1, 2000, the Goods and Services Tax ("GST") will tax at a 10%
rate the consumption of most goods and services in Australia.  (It does not
apply to consumption outside of Australia, e.g. exports.)

A swap payment to a Japanese counterparty will be GST-free. This means that
the Australian trading office would be able to claim refunds on a portion of
the GST paid on its rents and other expenses.

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

Best regards,
Susan


Steve,

I wanted to give you the latest figures on Enron expatriates in India.  There
are currently 19 Enron expatriate employees based in India, accompanied by
six dependants.  In addition, Enron has responsibility for 15 expatriate
contractors working for DPC and Lingtec, primarily at Dabhol.  The total of
40 expatriates for whom Enron is directly responsible is broken down by
location as follows:  21 in Mumbai, 16 at Dabhol, and three in Baroda.  By
company, they are broken down as follows:  Enron India -  eight plus three
dependants; EOGIL - nine plus one dependant; EBS - one plus two dependants;
DPC - seven; and Lingtec - nine.  These figures are likely to continue to
trend downward; Jane Wilson's departure on Friday, for example, will reduce
the Enron India expatriate presence to seven plus three dependants.

We are confident that the evacuation plan now in place provides the best
possible prospect of successfully evacuating all of these expatriates in the
event of danger.  As a contingency, the plan also includes the evacuation of
all 137 expatriates working at the Dabhol site, although a large-scale
evacuation from Dabhol is more problematic, especially now that the monsoon
season has started.  A coordinated plan was needed since the limited number
of available helicopters meant that the evacuation plans drawn up by
individual contractors such as Bechtel were all drawing upon the same
resources.

As you know, Enron's security situation in India remains stable.  We are in
the final stages of implementing security upgrades for our employees and
offices there.

Dave


Called last night....


Mark,

Attached is my project list for the Swap Meeting of 10/17.

Cordially,
Susan S. Bailey
Enron North America Corp.
1400 Smith Street, Suite 3803A
Houston, Texas 77002
Phone: (713) 853-4737
Fax: (713) 646-3490
Email: Susan.Bailey@enron.com


---------------------- Forwarded by Phillip K Allen/HOU/ECT on 07/14/2000
02:00 PM ---------------------------

	Enron North America Corp.

	From:  Kenneth Shulklapper                           07/14/2000 06:58 AM

To: Phillip K Allen/HOU/ECT@ECT
cc:
Subject: El Paso Blanco Avg product,

Please extend all internal gas traders view access to the new El Paso Blanco
Avg physical NG product.

Tori Kuykendahl and Jane Tholt should both have administrative access to
manage this on EOL.

If you have any questions, please call me on 3-7041

Thanks,

Phillip Allen


Ryan,  If you've got another taker for the tix, go ahead and let them go.
The dryspell continues.

	Ryan.F.Ruppert@EXXON.sprint.com
	12/14/2000 09:30 AM

		 To: Gerald.Nemec@enron.com
		 cc:
		 Subject: Sorry

         Date: December 14, 2000
         From: Ruppert, Ryan F.                            R9RUPPE  - AMERICAS
           To: EXT-GERALD.NEMEC(A)ENRON.COM,               GERALDNE - FPEXMAIL
      Subject: Sorry
------------------------------------------------------------------------------
Gerald,

Sorry for the call in the middle of the night.  My well is drilling and I
asked them to call me if they got an oil show.  The well should reach total
depth on Sunday so you might want to turn your ringer off in the bedroom
until then.

-Ryan

Ps.  Are you in for the Christmas Carol at the Alley tomorrow?  I need to get
rid of the tickets.

RYAN F. RUPPERT
West Texas Geoscience
U.S. West Production
ExxonMobil Production Co.


Shirley,

Please, reschedule.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 08/10/2000
02:02 PM ---------------------------

Cindy Derecskey@ENRON
08/10/2000 09:45 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Meeting with Mark Palmer

Vince,

Mark has a meeting with you scheduled for Wednesday, August 16th at 9:00
a.m.

Since he will be out of town, can we reschedule to either late afternoon on
Wednesday or Thursday?

Please let me know...

Thanks a million,

Cindy


EPMI recently did a deal with the City of Vernon which was a little bit funky
and the sensitive, high strung city got somewhat out of sorts about the way
we insisted upon documenting the deal and bitched to our trader (Rosman)
about it, who, in turn, having a bad karma day, as usual, came in and bitched
to me about it.  After some hearty belly-laughing at his expense flowing from
the rich comedic theme of how we talk so sweet to our customers on the phone
and then hang up and curse their mortal souls with expletives deleted,    I
agreed with him that we need to ask the following question to those above
with more wisdom than we have:

When you do the physical leg of an EFP transaction,  must the delivery point
for the physical piece be identical to the delivery point of the futures
piece?

Shooting from the hip on the Casino floor without much substantive
explanation to go on, I said the answer to this question was absolutely yes
and the City of Vernon huffed and puffed and said they had done other deals
where the delivery points were different.

I made us document the deal as follows:

1. An undocumented Nymex transaction whereby our broker agreed with their
broker that we would buy 30 Palo Verde futures contracts from Vernon for $120.

2. Then, the Exchange of this futures position for a physical position was
documented as a physical trade whereby EPMI sold Vernon 30 MW at Palo Verde
for $120.

3. Then, because Vernon wanted to get out of their Palo Verde position, we
agreed to buy back the 30 Mw for $120 and this was documented as a phsical
transaction.

4.  Then, because Vernon needed the power at NP-15, we sold them 30 MW at
NP-15 for $116. (Don't get distracted by thinking about buying at $120 and
selling at $116 and losing money. The prices were good at both points as part
of our portfolio of deals.)

Vernon said we should have done step 1 and step 4 and not 2 and 3 and that
they do this all the time.  I basically said that if the delivery point in
the NYMEX contract was PV that it had to be the same in the physical part of
the EFP.   May we please have the benefit of any comments on this issue.
Thank you kindly.----cgy


Greg, still nothing firm about that, both utilities are screaming for relief.
Gov Davis refered to 13 companies as the Dirty 13 for not selling into CA,
Enron was one. That was off Wire this morning. FERC intervened yesterday.
What is long term affect? Most utilities are concerned still problem. Ben

-----Original Message-----
From: Greg.Whalley@enron.com [SMTP:Greg.Whalley@enron.com]
Sent: None
To: Benjamin Bergfelt
Subject: RE: power companies

heard a rumor that EIX may file for bankruptcy on wednesday.

----Original Message-----
   >From:      "Benjamin Bergfelt" <ben.bergfelt@painewebber.com>
   >To:             "'gregwhalley@yahoo.com'"
<gregwhalley@yahoo.com>,"'greg.whalley@Enron.com'" <greg.whalley@enron.com>
   >Cc:
   >Bcc:
   >Subj:      power companies
   >Sent:      Monday, December 11, 2000 5:47 PM
   >
   >Greg, Fitch is reducing credit ratings on the CA utilities, EIX and
PCG, Moody's is considering it. The news wire said PG&E(PCG) is going to be
at 6 Billion by the end of December in the whole. More should be available
in the AM. Ben