Wholesale Competition Contributed to Trend of Lower Power Prices, According
to New EPSA Study

PR Newswire
07/23/01, 1:00p
(Copyright , 2001, PR Newswire)

WASHINGTON, July 23 /PRNewswire/ -- Calls for a return to cost-plus rate
regulation in the wake of the California power crisis are misplaced,
according to an independent study released today that found that competitive
markets contributed to a 36 percent decline in retail electricity prices
among surveyed utilities.

"That decrease is in sharp contrast to the increases that consumers
experienced in the days of solely cost-plus rate regulation," said Electric
Power Supply Association President Lynne H. Church, who released the findings
during a media luncheon in conjunction with the group's summer membership
meeting. "This analysis is evidence that we should continue to move forward
toward more competition in order to apply downward pressure on prices."

The study: "Assessing the 'Good Old Days' of Cost-Plus Regulation," analyzed
sales data for 60 of the nation's investor-owned utilities during 1985-1999,
when traditional cost-plus rate regulation began evolving toward more
competition. Complete sales figures for 2000 were not yet available when the
study was completed. The study was commissioned by EPSA and conducted by
Craig Roach, Ph.D, principal of Boston Pacific Co.

"In the wake of the California power crisis, some people have expressed a
longing for a return to the 'good' old days of cost-plus regulation, but
those days were far from good," Roach said. "People seem to forget that, in
the days of cost-plus regulation between 1970 and 1985, inflation-adjusted
electricity prices actually increased 25 percent for residential customers
and increased 86 percent for industrial/commercial customers."

"So much for the good old days," Church said. "The price increases under
cost-plus regulation were precisely what drove the start of electricity
competition in the early and mid-1980s."

During the 1985-1999 period, according to the analysis, inflation-adjusted
electricity prices decreased an average 30 percent for residential customers
and 36 percent for industrial/commercial customers.

"We should not allow the problems in California to cast a false shadow on
competition," Church said. "The evidence presented in this study makes it
clear that it would be counterproductive and unwise to go back to the old
ways."

"It is important to understand that what happened in California resulted, in
part, from market rules that prohibited basic risk management," Roach said.
"Specifically, utilities were required to take on the risk of selling at a
fixed price to customers, but not allowed to manage that risk by arranging
contracts with fixed-price suppliers or use other risk management tools.
Managing risk appropriately benefits consumers, and risk management is more
efficient and effective in a truly competitive regime."

"This study bolsters our belief that the Federal Energy Regulatory Commission
should continue to move expeditiously toward more efficient wholesale
markets, states should continue to move quickly toward opening their retail
power markets, and Congress should quickly adopt comprehensive legislation to
help them along," Church said.

Note: A copy of the complete study is available at
www.bostonpacific.com/powerprices .

EPSA is the national trade association representing independent power
producers and power marketers active in U.S. and global power markets. As
suppliers of reliable, clean, competitively priced electricity, EPSA members
seek to bring the benefits of competition to all electricity customers.

Contact: Mark Stultz, 202-628-8200 Audrey Duff, 202-354-8205

/CONTACT: Mark Stultz of Electric Power Supply Association, +1-202-628-8200;
or Audrey Duff, +1-202-354-8205, for Electric Power Supply Association/

/Web site: http://www.epsa.org

http://www.bostonpacific.com/powerprices /


Any luck with this?
---------------------- Forwarded by Kay Mann/Corp/Enron on 08/01/2000 11:03
AM ---------------------------

	Enron North America Corp.

	From:  Kay Mann                           07/31/2000 01:08 PM

To: Matt Maxwell/Corp/Enron@ENRON
cc:

Subject: Land option New York

I have some folks who want to option some land in New York.  Do we have a
company for New York yet?  If not, I seem to recall that we were going to
start using one of the existing companies for land options instead of
creating a new one every time.  Am I remembering that correctly?

Basically I'm looking for the company name to use in an option.  Any
suggestions?

Thanks,

Kay


Could I arrange a very short conversation with you regarding the May 28, 1999
memo from Jorge Brito Pereira?  I would like to discuss your analysis and any
further actions which the local firm may be taking on ECTRIC's behalf.  I
have a paper trade with a Portuguese corporate pending receipt of an
enforceability opinion acceptable to ECT.  I'm not sure if we'll get there.
I'm interested in further discussions you may have had internally or
externally.  Sara


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----- Forwarded by Gerald Nemec/HOU/ECT on 02/20/2001 10:32 AM -----

	Ned Higgins
	02/20/2001 10:20 AM

		 To: Gerald Nemec/HOU/ECT@ECT
		 cc:
		 Subject: CA for MarkWest

Per our conversation.
The company name:    MarkWest Hydrocarbon, Inc. ,  155 Inverness Drive West,
Suite 200 , Englewood , CO 80112-5000
Attn: Phil Archer

Description:  MarkWest is installing 20 to 30 K of HP and we would like to
put a proposal together for same. I do not know the location as they did not
want to divulge this w/o a CA in place.

I will of course forward whatever  form of CA you furnish to me as a DRAFT.


We will have our regularly scheduled legal/credit meeting at 10:00 Wednesday
in EB38C2, weather permitting.


Mr. Neuman:

At you request,  we are pleased to provide you an additional draft of the Master Agreement originaly sent September of 2000. Please do not hesitate to give me a call should you have any questions regarding this matter.

Regards,
Debra Perlingiere
Enron North America Legal
1400 Smith Street, EB 3885
Houston, Texas 77002
dperlin@enron
713-853-7658
713-646-3490 Fax


I got a message from Mike regarding the PPA's and PDA's and he and Dave are
currently working on revising the PPA's and will have something this
afternoon.  It seems like the PDA's will take a little longer.  Thanks
Ben


Can we change this contract to reflect this proposal. (leave fixed price
blank)

And use this format?


This message is intended for eHRonline users only.

Due to a recent change to eHRonline, the URL (aka "Web address") for
accessing eHRonline needs to be changed on your computer.  The change
involves adding the letter "s" to the "http" reference in the URL.  The URL
for accessing eHRonline should be:   https://eHRonline.enron.com.

This change should be made by those who have added the URL as a favorite on
the browser.


Brad
Attached is the final version for signature.
Roger


Mike, enjoyed the visit in Omaha.  See you in January.  Thanks. Lynn

 -----Original Message-----
From: 	McGowan, Mike W.
Sent:	Friday, December 21, 2001 12:58 PM
To:	January, Steve; Blair, Lynn
Subject:	Thank You

Steve and Lynn - Both of you got away before I could wish you each a very merry Christmas.  I also wanted to thank you for traveling to Omaha for the meeting yesterday.   I really appreciated it and your contributions to the meeting.  I am looking forward to working with you both o this project.

You and your families all have a GREAT Holiday season!!!

Mike McGowan


Thanks Sally.  It is great having Brent over here and I appreciate you
stretching the North American operation to facilitate his
being here now.  Look forward to speaking with you soon!

John

	Enron Capital & Trade Resources Corp.

	From:  Sally Beck                           09/05/2000 23:41

To: John Sherriff/LON/ECT@ECT
cc:

Subject: Added Role

Congratulations on your added role of CEO for Enron Europe.  I look forward
to continuing to work with you and the staff in London on risk management
operations initiatives.

I talk with Brent Price several times a week.  I know that Fernley has
appreciated his participation in London, and I hope that you have found his
involvement to be beneficial as well.  We are almost at the half way mark on
his assignment, so I will talk with you next week when I return from Calgary
to get your input on his role to date.


For March 27 run:
NGPROpt book 1084746 copied into 1085734(with skew)
calls 1085788 and 1085790(with skew)
puts 1085015 and 1085016(with skew)
done with Jeremy's excutible of port_calc on stage.

 -----Original Message-----
From:  Quigley, Dutch
Sent: Friday, March 23, 2001 12:55 PM
To: Wei, Dave; Jeremy Wong/HOU/ECT@ENRON
Cc: Griffith, John; McLaughlin, Errol; May, Larry
Subject: Skew Project

Dave,

To follow up on our conversation about the Pipe Option Book, Errol will
provide post id's for Friday's COB
to calc the pipe options book with the skew table. As I asked on the phone
please provide two calcs, one calc
for the pipe options deals with and with out skew and another calc with the
NYMEX options deals with and without skew.

In addition to this, please recalc  1078960 & 1078963 for the ngpropt book.
These calcs are for puts and for calls for COB 3-23.

If you have any questions please contact me at 3-9257 with any questions

Dutch


Hi,

Here's my itinerary:

Dec. 8

SW flt #76      Lv Aus 7:00 a.m.        Arr San Jose 9:55 a.m.

Dec. 17

SW flt #1816    Lv San Jose 3:30 p.m.   Arr Aus 9:55 p.m.

We'll be at Eric's until the 11th and then back there the 15th.  408-354-1691

River Ranch (Alpine Meadows, CA)  night of the 11th thru morning of the 15th.
530-583-4264

I'll call when I return.      love, mum


Please reject this expense report because it did not print out Rick's info but mine.
	Return to me and I will get it set up correctly.
		Tnx, Alma G.


I think we are going to stay in town and meet you at the airport.  Is the
surgery considered serious? How long till he recovers?

L,
e

"K. Bass" <daphneco64@bigplanet.com> on 12/07/2000 10:34:22 AM
Please respond to "K. Bass" <daphneco64@bigplanet.com>
To: Eric Bass <Eric.Bass@enron.com>
cc:
Subject: Fw: Christmas

Hi E,

Let me know what you get and are you spending the night tomorrow night?
Jake is having surgery tomorrow morning so say a prayer for him. LU-M
----- Original Message -----
From: "Bass, Jason" <Jason.Bass2@COMPAQ.com>
To: "'K. Bass'" <daphneco64@bigplanet.com>
Sent: Monday, November 27, 2000 10:40 AM
Subject: RE: Christmas

> Black Dress shoes size 10
> Dress socks and White socks
> Boxers XL
>
> http://www.bestbuy.com/detail.asp?e=11000015
> <http://www.bestbuy.com/detail.asp?e=11000015&m=1&cat=3&scat=4>
> &m=1&cat=3&scat=4
>
> http://www.bestbuy.com/detail.asp?e=11008650
> <http://www.bestbuy.com/detail.asp?e=11008650&m=488&cat=511&scat=514>
> &m=488&cat=511&scat=514
>
> http://www.bestbuy.com/detail.asp?e=11008607
> <http://www.bestbuy.com/detail.asp?e=11008607&m=488&cat=516&scat=517>
> &m=488&cat=516&scat=517
>
> http://www.express.com/consumer/products_movies_fr.asp?ProductNumber=17551
>
<http://www.express.com/consumer/products_movies_fr.asp?ProductNumber=17551&
> No_Catalog=X&Type=Movie> &No_Catalog=X&Type=Movie
>
> http://www.express.com/consumer/products_movies_fr.asp?ProductNumber=19161
>
<http://www.express.com/consumer/products_movies_fr.asp?ProductNumber=19161&
> No_Catalog=X&Type=Movie> &No_Catalog=X&Type=Movie
>
> IF you need anymore let me know :-)
>
> Donnita likes Christian stuff and roosters obviously.  I don't know what
to
> get her myself.  She really needs a ski jacket.  So, if you would like to
> give her an early present that would be nice as well.  Actually any jacket
> that might be more universally useful would be good too.
>
> -----Original Message-----
> From: K. Bass [mailto:daphneco64@bigplanet.com]
> Sent: Monday, November 27, 2000 9:43 AM
> To: Bass, Jason; Eric Bass
> Subject: Christmas
>
>
> Hi Boys,
>
> I REALLY need your lists asap.  Will you oblige soon?  LU-M
>


Bob talked with TFS this morning and has the deals in his trade log now. I'll
get the deal numbers from him as soon as he inputs them, but you should see
those trades in the system soon.

Thanks,
Kate

Kerri Thompson@ENRON
12/01/2000 08:47 AM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Re: tfs checkout

can you check with bob again, because i got confirms on the deals.  the
broker told me yesterday he forgot to tell bob.

   Kate Symes @ ECT                11/30/2000 06:05 PM

To: Kerri Thompson/Corp/Enron@ENRON
cc:

Subject: Re: tfs checkout

Bob does not recognize these deals, and tried to check with the broker. He'll
talk to TFS in the morning to verify these and I'll let you know ASAP.

Thanks,
Kate

Kerri Thompson@ENRON
11/30/2000 02:32 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: tfs checkout

missing 2 deals for bob:

buy el paso
cal 01
141.00
25 mw
pv
on peak

sell ees
cal 01
141.05
25 mw
pv
on peak

thanks


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---------------------- Forwarded by Stinson Gibner/HOU/ECT on 02/28/2001
03:27 PM ---------------------------

Mario de la Ossa@ENRON
02/28/2001 03:26 PM
To: Stinson Gibner/HOU/ECT@ECT
cc:
Subject: Job Well Done/Bob Lee, Kenneth Parkhill

Just wanted to pass along my appreciation for the fine work these 2 gents are
doing on the products model.  Their attention to detail and customer focus
has greatly facilitated the performance of my job.  Thanks, Mario.


Hi Sara, I have discovered quite a few long term deals that were done with
Enron Energy Services that have never been confirmed.  These trades were done
when the other group was confirming financial power deals.  I have created a
confirm for one of these deals.  Please look at the following and let me know
if you see anything that should be changed from a legal standpoint.  Then I
will continue to create the rest of them

Thanks for your help,
Melissa
3-1886


I am asking Tammie to compile a Weekly Report (for delivery 8am Monday
mornings) which is formatted as below.  Please make sure starting next week
the information if received in adequate time.

Deals Signed
LOI Signed
NDAs signed
Earnings Report (from Kerry)
Individual Group general update (to include deals working plus other info)

Thanks

Louise


John:
Please advise.

James Hungerford
713.345.4117
james.hungerford@enron.com

-----Original Message-----
From: dick bryan [mailto:bryan6110@msn.com]
Sent: Friday, November 09, 2001 4:08 PM
To: Hungerford, James; bryan6110@email.msn.com
Cc: Hodge, John
Subject: Re: Confirmation Deal #1147188

James,

    The attachment is a memo that I faxed to John Hodge earlier today.  It captures two items that were part of the deal that are not captured in the confirmation.
Since I do not know who is responsible for documenting those understandings,  I am emailing the attachment to you with a copy to John and me.

Regards,

Dick Bryan

----- Original Message -----
From: Hungerford, James <mailto:James.Hungerford@ENRON.com>
To: bryan6110@email.msn.com <mailto:bryan6110@email.msn.com>
Cc: Hodge, John <mailto:John.Hodge@ENRON.com>
Sent: Friday, November 09, 2001 12:21 PM
Subject: Confirmation Deal #1147188

Mr Dick Bryan:

Please see attached confirmation.

Thanks,

James Hungerford
713.345.4117
james.hungerford@enron.com <mailto:james.hungerford@enron.com>

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


- kudlow100201.doc


Aimee,

You need to set up a transport capacity ticket in Sitara for this.  Heidi
Withers should be able to help you.  I don't know the contract to apply to
the deal. Heidi or Julie Meters may be able to help with this also.

D

   Aimee Lannou                03/20/2000 12:28 PM

To: Daren J Farmer/HOU/ECT@ECT
cc: Thu Nguyen/HOU/ECT@ECT
Subject: MidTex

Daren -

I need a service list contract set up for ENA for the MidTex line for Feb. 00
and March forward for meter 9735, deal # 203469 (XPRTUNG).  Does ENA have a
valid contract to ship on the MidTexas line?  Volume managEment would like
this done before close.  Please let me know.

- Aimee


The below meeting is going to take place today in EB32C2.

Thanks,
Rain
---------------------- Forwarded by Rita Hennessy/NA/Enron on 08/08/2000
09:15 AM ---------------------------

Barbara Lewis@ECT
06/19/2000 10:25 AM
To: Sally Beck/HOU/ECT@ECT, Vladimir Gorny/HOU/ECT@ECT, Grant
Masson/HOU/ECT@ECT, Michael E Moscoso/HOU/ECT@ECT, Ted Murphy/HOU/ECT@ECT,
Beth Perlman/HOU/ECT@ECT, Stephen Stock/HOU/ECT@ECT
cc: Patti Thompson/HOU/ECT@ECT, Shirley Crenshaw/HOU/ECT@ECT, Maria
Sandoval/HOU/ECT@ECT, Rita Hennessy/NA/Enron@Enron, Cherylene R
Westbrook/HOU/ECT@ECT, Giselle James/Corp/Enron@ENRON

Subject: Reoccurring Meeting

The meeting to discuss "Var, Reporting and Resources II" will take place
every Tuesday at 3:00p.m. beginning June 27, 2000.
 Please adjust your schedule to reflect this weekly reoccurring meeting.

Many thanks,
Barbara Lewis


Britt

Please find below the answers to your queries re the AES shipment. Please do
not hesitate to contact Harry or I if you need further information. David
Minns (our in-house counsel) is actually on vacation until 2nd January 2001
and is not on email during this time. You may also be interested to know that
we understand Glencore (a fellow Australian coal trading company) has
received a similar subpoena re trading with AES during this period.

Enron Coal Asia Pacific Pty Ltd (ECAP) was the counterparty to this deal.
ECAP sold to AES approx 60 000 metric tonnes of coal +/-10% as per the
contract signed 7th September. (The effective date of the agreement was 10
August 2000). The actually delivery amount was 54 152.35 metric tonnes a the
cargo was loaded 3rd October 2000. ECAP is incorporated in Australia.
The deal was negotiated by our Harry Papadopoulos and the contract signed
here in Sydney by myself, Heidi Mason under delegated authority from  Stuart
Staley. (My delegated authority is based on Stu's prior approval which in
this case was received via email on 6th September 2000)
We have a copy of the contract here in Sydney, but as the coal was bought
under LC and such LC was issued out of London, all shipping   documentation
for this load was forwarded to London to the attention of Claire Veijou and
Cornelia Luptowitsch. London office also issued the invoice  to AES on behalf
of ECAP and this was done by Rebecca Millerchip or Maya Beyhem.

Also, for your information, Harrry has prior travel plans that put him in
China on the date of the hearing. While these could be changed, it would be
less than desirable. Will it be necessary for the trader to be the Enron rep
who appears on behalf of the company or could it ideally be someone from
Houston (or London if needs be) simply because this is a long way to go for
one appearance. John Bowman has resigned from Enron since the time this deal
was done and therefore we have not advised him of this action.

With thanks

Heidi Mason
Chief Financial Officer
Enron Australia

	Britt Davis@ENRON
	14/12/2000 08:43 AM

		 To: Harry Papadopoulos/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Heidi
Mason/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, David
Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
		 cc: Wayne Gresham/HOU/ECT@ECT, Robert Quick/LON/ECT@ECT, Richard B
Sanders/HOU/ECT@ECT, Becky Zikes/Corp/Enron@ENRON
		 Subject: PT Kaltim Rima Coal v. AES Barbers Point/Third-party subpoena on
Enron Coal Company

PRIVILEGED AND CONFIDENTIAL:  ATTORNEY-CLIENT COMMUNICATION, ATTORNEY WORK
PRODUCT--URGENT

Harry, Heidi and David,

 The above-referenced lawsuit is filed in the Southern District of New York
by PT Kaltim Rima Coal, who allegedly had a long-term coal purchase agreement
with AES Barbers Point, for delivery to AES in Hawaii.  In brief, PT contends
that AES breached that agreement through the use of a bogus force majeure
letter, in order to allow AES to purchase coal from some Enron entity at a
cheaper spot market price in September or October of this year.

 PT's attorneys, Lord, Bissell & Brook out of Chicago, have served us with a
subpoena on Enron Coal Company.  How they decided that Enron Coal Company was
the correct entity is not something I yet know.   I have been advised that
Enron Coal Company is a long-dormant subsidiary of Enron Property.  Although
using Enron Coal Company's name throughout, the subpoena also references
Harry, Riaz Rizvi, Allen Childress, Stuart Staley and/or John Bowman.  I
understand that we probably did do a deal (maybe more than one) with AES, but
need to be corrected if I am wrong.

 The subpoena requests that a corporate representative for Enron Coal Company
appear with documents on January 8 in Houston to be deposed about the deal
with AES.

 I would like to respond tomorrow, by telefax, to PT's attorneys and advise
that Enron Coal Company is the wrong company.  If all I do is stall them,
however, they can yank the information from us the hard way (assuming that we
did do the deal in question) and eventually get what they want.  The suit is
for about $4,000,000, so it is worth the while of PT's attorneys to pursue
this subpoena.  Accordingly, I need one of you to tell me as soon as possible
whether

 (a) we did such a deal with AES during the relevant time frame, and if so,
the exact name of the Enron entity on the deal;

 (b) who the trader on the deal was; and,

 (c) who has the documents regarding the deal.

Although I have briefly described the information I need, I also need to get
the name of the right person to telefax the subpoena to for review, to see
how broad the scope of the request for documents/witnesses really is.

I would greatly appreciate this preliminary information by the close of
business tomorrow, Thursday, in London/Australia.  I apologize for the
extremely short time frame.  I was only given this subpoena last Friday, and
have spent the days since chasing people down.  Please don't shoot the
messenger.

Britt

----- Forwarded by Britt Davis/Corp/Enron on 12/13/2000 03:17 PM -----

	Stuart Staley@ECT
	12/13/2000 02:15 PM

		 To: Britt Davis/Corp/Enron@ENRON
		 cc: Robert Quick/LON/ECT@ECT, Wayne Gresham/HOU/ECT@ECT
		 Subject: Re: subpoena

Britt:

Harry Papadopoulos, Heidi Mason, or David Minns in our Sydney office should
have originals of this documentation.

Thks,

Stu


Hey Guys!

I went through all the templates and removed the RT prefix for all the templates. You can now sort them alphabetically making the process of finding the right template a lot easier. From now on please do no use the RT prefix when creating new templates.

Geir


Approved.

	Enron IT Purchasing@ENRON
	Sent by: Leticia Flores@ENRON
	05/11/2001 10:27 AM

		 To: Mark Taylor/HOU/ECT@ECT
		 cc: Holly Keiser/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
		 Subject: Re: iBuyit eProcurement Request

Mark,
In Holly's absence please approve this request for I know that this order was
needed right away.

Thank you

	Enron IT Purchasing
	05/11/2001 08:36 AM

Sent by: Leticia Flores
To: Holly Keiser/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:

Subject: Re: iBuyit eProcurement Request

Thank you for submitting an order through iBuyit eProcurement.
Unfortunately, the system was not able to determine who should approve your
request.

Please route this document to the person who generally approves your
expenditures and have them send an email to Enron IT Purchasing denoting the
approval.

To facilitate the communication, attached you will see the list of items you
ordered.

Thank you,

For future orders, we can update the workflow table to route directly to the
approver if you provide the approvers' names.


The revised form of ISDA exhibit.doc (which contains the credit support annex
and letter of credit forms) has been moved into the attorney forms bank under
atty.fms/current forms/isdaexh.doc.  The old form of ISDAexh.doc is now under
"old forms" in the attorney forms bank as atty.fms/old forms/oldISDAexh.doc.
Again, per my last email, the revised Multicurrency Schedule is already in
attorney forms.  You may want to circulate blacklined drafts.  The Index to
the swap forms is now also located in the attorney forms bank for your
reference for the most current forms.  It is called "formlist.doc."

London and Singapore, FYI, in addition to making changes to the ISDA
collateral annex, we made changes to the MAC definitions (which we inserted
into ISDAexh.doc for ease of the paralegals) and made changes to the letter
of credit terms, as well as the form of Letter of Credit.   We also added in
an alternative "Credit Support Amount" provision on the front page of the
ISDA credit support annex to deal with situations when we do not want to
return the Credit Support Amount during the term of the Master Agreement.

We moved the guaranty forms (Enron Corp. and Counterparty) as a separate
document(s) in the attorney forms bank, atty.fms/current forms/guaranty.doc.
The guaranty form was revised to (1) make it cover both confirms and masters
so we don't need two separate forms on an ongoing basis, and (2) we changed
the procedures for timing of demands made on Enron (deleting the 15 day
period).  We are also discussing adding an assignment provision to the Enron
Corp. guaranty with Clement and will keep you posted.

We are close to finalizing changes to the Industrial Master, as well as
making changes to the Omnibus form of confirmation.
Also, by the end of the day I will have moved our standard forms of
Secretary's Certificates into the attorney forms bank.


CALENDAR ENTRY:	APPOINTMENT

Description:
	Ava-35842/Market Services Council Mtg. conference room 42C2

Date:		12/27/2001
Time:		10:30 AM - 12:00 PM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


Attached is the latest draft of the Purchase and Sale Agreement, in both Word
Perfect and PDF formats.  It still does not cover a number of items several
of us have discussed, including certain insurance matters.  These items are
part of an ongoing list of issues.  That list also includes the practical
applicability of the infamous Section 5.07(b).

The Disclosure Schedules remain critical.  Please continue to review both the
parent disclosures and the regional disclosures for gaps, inconsistencies,
and duplications.  For example, while Corp. Risk Management is scheduling the
various insurance handled by it, that group is not aware of insurance
obtained at the local level.  Those policies at the regional level need to be
listed, as well as checked to confirm that they are not implicated by a
change of control.  The parent level policies have been reviewed for change
of control implications.  Also, please confirm that the schedules include all
claims against the involved entities; for example, there appear to be many
claims made under the various insurance policies that have not yet become a
litigation matter.

Timing of the deal could soon become quite ugly.  Thanks for all of the
help.  Lance.

 - Houston_290706_1.WPD
 - Houston_296564_1.WPD

 - PSA.8.11.00.pdf
 - CMP.PSA.8.11.00.pdf


Please Note:

"Applied Risk Management Principles", scheduled for November 30th is cancelled.  We apologize for any inconvenience this may cause.

Please check elm.enron.com for the '02 schedule.

Thank you.


Sorry that I missed you this morning.  I attended that last Financial Council
meeting on SAP this morning just prior to my lunch meeting with Mark Frevert
and Rick Causey.  Nothing substantial came up on Helsinki, so it was fine
that we didn't get to talk today.  I had wanted to be prepared on how to
address out current activities there.  So I can get an update on that when we
talk tomorrow.

I have a meeting on the analyst and associates program from 9:00 to 10:00
tomorrow.   I will call you around 10:00 when I get back from that meeting.


Any news on the diesel units installed at OPPD substations?


Apologies.  Can we make it 4?

	Christopher F Calger/ENRON@enronXgate
	05/16/2001 12:26 PM

		 To: Jeff Dasovich/NA/Enron@Enron
		 cc:
		 Subject: RE: Rate Agreement between DWR and the PUC Regarding
Creditworthiness

3:00 PM?

 -----Original Message-----
From:  Dasovich, Jeff
Sent: Wednesday, May 16, 2001 10:23 AM
To: Calger, Christopher F.
Subject: RE: Rate Agreement between DWR and the PUC Regarding Creditworthiness

I'm trying to meet a deadline at the moment, but are you free this
afternoon?  I have some information that can help a lot in that analysis.

Best,
Jeff

	Christopher F Calger/ENRON@enronXgate 05/16/2001 12:19 PM 	   To: Jeff
Dasovich/NA/Enron@Enron  cc: Tracy Ngo/ENRON@enronXgate  Subject: RE: Rate
Agreement between DWR and the PUC Regarding Creditworthiness

Thanks Jeff.  On a related note, we are trying to put together a financial
"headroom" forecast for DWR/State of California that goes out a few years and
shows:

Rate Revenues
less:  Utility gen costs
 QF costs
 DWR PPA's
 DWR spot purchases
Margin
Total Deficit

Bond Issue
Bond Principal & Interest

Would you know how to get something like that?

Regards,

Chris

 -----Original Message-----
From:  Dasovich, Jeff
Sent: Wednesday, May 16, 2001 10:12 AM
To: Calger, Christopher F.; Comnes, Alan; Shapiro, Richard; skean@enron.com;
Steffes, James; Yoder, Christian; Kaufman, Paul
Subject: Rate Agreement between DWR and the PUC Regarding Creditworthiness
Sensitivity: Confidential

FYI:  Just got off the phone with Michael Hoffman, who's one of two key
outside financial advisors to Davis on the electricity crisis. The
administration is trying to get a legally binding agreement between the PUC
and DWR to ensure that the PUC doesn't muck around with the money (via
utility rates) DWR requires to be creditworthy.  They were shooting for this
Friday to have a draft of the document read for folks to review, but it now
looks like it won't get resolved until (at the earliest) next week----seems
that the one PUC lawyer who can actually do the work is on vacation.  Go
figure.

Best,
Jeff


Karen:
Please take a look at what we have agreed to in Section 4(b) of the
amendment.  Your new language does not track that language and if you are
going to add language to the LC it needs to track that language.  I
personally feel that this language is unnecessary so long as the drawing
condition is specified.
Carol

	"Karen Ector" <karen_ector@transcanada.com>
	05/12/2000 04:42 PM

		 To: Carol St Clair <Carol.St.Clair@enron.com>
		 cc:
		 Subject: Re: LC Form

Carol:

The additional transfer language is sufficient.

I black lined an insert to address TEFP's concern that the letter of credit
may be exercised on
default, only when funds are owed.

Please advise if this change is acceptable to Enron.  (If it is, I will print
copies of the
attached, & replace the existing letter of credit format with the attached
document, so that
Susan does not have to generate executions copies again.)

Thank you,

Karen

Carol St Clair wrote:

> Karen:
> Enclosed is a new draft of the LC Form in which I have incorporated some
> additional transfer language that hopefully deals with your issue.  Please
[ass
> it on to the people taht need to see it.  Thanks.
>
> (See attached file: TransCanada LC Form 5-12.doc)
>
> Carol St. Clair
> EB 3892
> 713-853-3989 (Phone)
> 713-646-3393 (Fax)
>
>   ------------------------------------------------------------------------
>                                           Name: TransCanada LC Form 5-12.doc
>                                           Type: Microsoft Word Document
(application/msword)
>    TransCanada LC Form 5-12.doc       Encoding: base64
>                                    Description: Mac Word 3.0
>                                Download Status: Not downloaded with message

 - TransCanada LC Form 5-121R.doc


[IMAGE]
 Anna Kournikova Exclusive Fantasy Offer!  Save 10% on Anna's 2002 Calendar! Yes 12 months of Anna!  Simply enter the coupon code FNTSYCAL in step 5 of the checkout process to receive your discount.  Offer expires 11/30/01.  http://www.sportsline.com/links/6/1/135/sffer1120tr.cgi   Attention Fantasy Fans!  Subscribe to The Sporting News  now and get 4 FREE issues! Hurry!   Brought to you by   Sponsorship Bar You are receiving these e-reports because you have signed up for CBS SportsLine.com Fantasy Football.  To customize, reschedule, or turn off these reports please  click here    NFL Reports, Player Updates  [IMAGE]Latest NFL Player News  Tony Gonzalez , TE KC - The Executioners Updated 11/21/01 Gonzalez will rack up good Fantasy stats Sunday against the Seahawks. While he has been somewhat of a disappointment, you need to keep him active every week.  Stephen Davis , RB WAS - The Executioners Updated 11/21/01 Davis rushed for 84 yards against Denver last week, and was held out of the end zone once again. He may struggle against Philadelphia in Week 11, but you may have no choice but to start him considering! t! he lack of running back depth around the league.   Larry Parker , WR KC - Not So Nice Machine Updated 11/21/01 Parker could get a touchdown pass Sunday against Seattle, as the Seahawks' secondary has regularly been burned by teams' second wideout options. He might make a good No. 3 receiver for this week.  Tony Richardson , RB KC - Free Agent Updated 11/21/01 Richardson has fallen into a goal-line back role in recent games, and there's a chance he'll get a score against the Seahawks on Sunday. Kansas City should move the ball with relative ease, and if you are in a deep league or a touchdown-only league, he might be worth putting in your lineup.  Priest Holmes , RB KC - Not So Nice Machine Updated 11/21/01 The Chiefs will use many plays to keep the Seahawks off balance on Sunday, which should help Holmes roll up some very good stats this week. We recommend you get him into your active lineup despite his struggles against the Jets in Week Nine.  Trent Green , ! QB! KC - Meximullets Updated 11/21/01 Green and the Chiefs slumped badly before their bye week, but should rebound Sunday against Seattle. Expect him to post decent stats against this questionable secondary, but don't rush to start him over a less mistake-prone quarterback.  Stephen Alexander , TE WAS - Free Agent Updated 11/21/01 According to the Washington Post, Alexander will be back in the starting lineup on Sunday against Philadelphia. He had been inconsistent prior to suffering an ankle injury, so starting him is somewhat of a gamble.   ! Kyle Brady  , TE JAC - One Man Show Updated 11/21/01 Brady hasn't offered useful Fantasy stats much this season. We don't recommend you use him this week against the Ravens, as it is unlikely this is the game he will break his slump.  Rod Gardner , WR WAS - Not So Nice Machine Updated 11/21/01 Gardner has been held down in three consecutive weeks, and is having some trouble holding onto the ball recently. He'll face a tough Philadelphia secondary on Sunday, making him a risky start from a Fantasy perspective.   Keenan McCardell , WR JAC - One Man Sh! ow! Updated 11/21/01 McCardell matches up with Duane Starks in Sunday's game against Baltimore, and that, combined with the possibility of Jonathan Quinn starting at quarterback, makes him a risky start. McCardell has the talent to beat Starks for a few good catches, but you shouldn't be counting on him for explosive stats.  Jimmy Smith , WR JAC - North Blvd Nutwhackers Updated 11/21/01 Despite Jonathan Quinn likely playing his second straight game, you have to keep a guy like Smith active in any week in your league. He might have less impressive stats, but Smith is still talented enough to catch more passes than most receivers in the league.  Elvis Joseph , RB JAC - Free Agent Updated 11/21/01 There's a chance Joseph could break off some long runs despite his facing the Ravens' defense on Sunday. However, we only recommend you use him this week if you have no other options at running back.  Marcus Pollard , TE IND - The Guzzlers Updated 11/21/01 Pollard will have his hands full trying to escape San Francisco's Lance Schulters on Sunday. While Pollard has been a very reliable Fantasy tight end in recent weeks, you shouldn't expect great stats this week. However, you should probably start him unle! ss! you have a good alternative.  Terrence Wilkins , WR IND - Free Agent Updated 11/21/01 Wilkins is likely to start in place of the injured Reggie Wayne Sunday against San Francisco. While Wilkins could get some passes thrown his way and post decent stats against a so-so Niners secondary, we only recommend you use him if you have no other options at wide receiver.  Marvin Harrison , WR IND - The Snake Pit Updated 11/21/01 Harrison is a must-start in any Fantasy league regardless of opponent. However, he should have no problem beating San Francisco CB Ahmed Plummer downfield for great stats this week.  Dominic Rhodes , RB IND - North Blvd Nutwhackers Updated 11/21/01 Rhodes has a good matchup in Indianapolis on Sunday, and you should definitely start him this week. He may not post Edgerrin James-like stats, but should give good rushing totals and a score.  Desmond Clark , TE DEN - Who's Yo Daddy Updated 11/21/01 Clark has been getting more passes thrown ! hi! s way than Dwayne Carswell in recent weeks, and he will be a key member of the Broncos' passing game Thursday against Dallas. While the Cowboys will likely be ready to defend these two tight ends, if you need to start one it should definitely be Clark.  Dwayne Carswell , TE DEN - oops, I did it again Updated 11/21/01 Carswell might factor into the Broncos' passing game more Thursday against Dallas due to a thin corps at wide receiver. However, he had no catches in similar circumstances in Week 10, and the Cowboys will be ready to defend short passes to him. Only use Carswell if you're thin at the tight end position.  Keith Poole , WR DEN - Free Agent Updated 11/21/01 If Rod Smith indeed misses Thursday's game against Dallas, Poole will need to step up as the Broncos' top receiving target. However, we don't recommend you use him in a Fantasy league until he first proves himself a reliable point-producer. Keep Poole reserved against Dallas.  Kevin Dyson , WR TEN - Meximullets Updated 11/21/01 Don't look for good numbers from Dyson this week. he has been inconsistent this season, and may not do much against a physical Pittsburgh defense.  Derrick Mason!  , WR TEN - The Lie Downs Updated 11/21/01 Mason should post respectable statistics against the Steelers. Don't expect him to be intimidated by the Pittsburgh defense.  Mike Alstott , RB TB - Thrill Kill Cult Updated 11/21/01 Alstott is once again playing second fiddle to Warrick Dunn, so don't expect huge Fantasy numbers from him. Unless you play in a deeper, scoring-based league, starting Alstott is a risk.   Brad Johnson , QB TB - The Snake Pit Updated 11/21/01 Johnson threw for 399 yards last week against Chicago, but he also threw no touchdowns and was picked off twice. He's been unreliable from a Fantasy standpoint, and is a gamble even when the matchup is in his favor.   Keyshawn Johnson , WR TB - The Lie Downs Updated 11/21/01 Johnson had a big game against Chicago last weekend, catching 12 passes for 89 yards. He was held out of the end zone again, but look for that to change on Monday night against St. Louis.   Az-Zahir Hakim , WR STL - Thrill Kill Cult Updated 11/21/01 Hakim suffered an ! an! kle injury during last Sunday's game against New England. He's listed as questionable for Monday's game against Tampa Bay, so avoid starting him if at all possible.   Torry Holt , WR STL - One Man Show Updated 11/21/01 Holt had seven receptions for 89 yards and a touchdown last weekend against New England. He's one of the better Fantasy receivers in the league, and is worth starting on a weekly basis.   Isaac Bruce , WR STL - The Guzzlers Updated 11/21/01 Bruce had a huge game against New England last weekend, posting seven catches for 130 yards. Look for him to have a solid game in Week 11 against a Tampa Bay defense that is vulnerable to the big play.   Olandis Gary , RB DEN - oops, I did it again Updated 11/21/01 Gary will likely get a fair number of carries Thursday against Dallas, but we don't expect him to provide useful Fantasy stats. The Cowboys will probably focus on the run, which makes both Gary and Mike Anderson risky starts this week since they have been splitting time.  Brian Griese , QB DEN - Not So Nice Machine Updated 11/2! 1/! 01 With favorite target Rod Smith likely sidelined by injury, Griese will have questionable receivers to work with Thursday against Dallas. However, the Cowboys' defense will probably focus on the run and force Griese to beat them through the air. He should provide your team with decent stats and is worth using this week.  Marshall Faulk , RB STL - oops, I did it again Updated 11/21/01 Faulk had 153 scrimmage yards and a touchdown against New England last weekend. He's the best player in Fantasy Football, and is a must-start in any league format.   Mo! re! Updates   Teams, Rosters  [IMAGE] [IMAGE]  [IMAGE] The Executioners Phillip Love    Player TM Pos Status Next Bye Gannon, Rich  OAK QB Active @NYG Week 6 Tomlinson, LaDainian  SD RB Active ARI Week 17 Davis, Stephen  WAS RB Active @PHI Week 9 Carter, Cris  MIN WR Active CHI Week 8 Booker, Marty  CHI WR Active @MIN Week 3 Warrick, Peter  CIN WR Active @CLE Week 8 Gonzalez, Tony  KC TE Active SEA Week 10 Vinatieri, Adam  NE K Active NO Week 16 Jets  NYJ DT Active bye Week 11 Bledsoe, Drew  NE QB Reserve NO Week 16 Brady, Tom  NE QB Reserve NO Week 16 Canidate, Trung  STL RB Reserve TB Week 8 Barber, Tiki  NYG RB Reserve OAK Week 12 Connell, Albert  NO WR Reserve @NE Week 2 Jefferson, Shawn  ATL WR Reserve @CAR Week 7 Williams, Roland  OAK TE Reserve @NYG Week 6  Total Active Players: 9 Total Reserve Players: 7   Transactions, View  [IMAGE]     [IMAGE] Make Selection   [IMAGE]       [IMAGE] There are no League Transactions which meet the selected criteria.  To see all league transactions select "All", "All", "All Teams" from the Transactions, View page.     [IMAGE]  Copyright 2001 Commissioner.COM Inc and SportsLine.com Inc. Your site can be reached from http://fantasy.sportsline.com   FB10SP


Start Date: 4/21/01; HourAhead hour: 14;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001042114.txt

---- Generation Schedule ----
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: HARBOR
  MKT_TYPE: 2
  TRANS_DATE: 4/21/01
  UNIT_ID: HARBGN_7_UNITS


Kay:

The legal person responsible for the ComEd LOI's is:

Carter Culver
Senior Counsel
Commonwealth Edison Company
phone: (312) 394-2754
fax: (312) 394-3950
e-mail: carter.c.culver@ucm.com

I will fax you my comments on the LOI's (Kendall New Century and Titan Land)
this evening from my hotel (10 pm).  Please review the documents and
incorporate our desired legal and commercial changes.  Call me on my cell
tomorrow to discuss (713-412-4612).  If you wish to talk to Carter directly,
give him a call or email him (see above).  We should be in a position to have
these LOI's initialed by Wednesday at noon.

Thanks,
Fred


Please see the information below received from the broker.  As I indicated
from the very beginning, this possibility has always existed.  When received,
I will distribute a copy of the surveyor's report to whomever needs a copy.
Please advise if you need a copy.
---------------------- Forwarded by James P Studdert/HOU/ECT on 03/29/2001
07:27 AM ---------------------------

"Ted Rosen" <trosen@jwortham.com> on 03/28/2001 05:07:50 PM
To: <James.P.Studdert@enron.com>
cc:
Subject: Damage to SWPC Generator shipped per INDUSTRIAL BRIDGE

Jim:

I spoke to Sharron West this afternoon and she had just gotten in a
preliminary report from the surveyor.  Sharron is going to send us an
official fax/letter in the next few days.  In the meantime, from my
discussion with Sharron, I understand that the surveyor is of the opinion
that the generator is not a total loss and is repairable.  He also believes
that the initial damage to the generator has been aggravated by the delay in
repairing the generator.

Jim, as you well know, an insured under any ocean cargo policy is required to
act as a prudent uninsured would act.  With this concept in mind, and with
the surveyor believing that the generator is repairable, Sharron has
suggested that Enron should obtain a written estimate for repairs as soon as
possible.

Again, we should have something from the adjuster in writing within the next
few days.  In the meantime, please let me know if you have any questions.

Regards,

Ted Rosen


Thank you!

 -----Original Message-----
From: 	Jones, Tana
Sent:	Thursday, September 27, 2001 2:39 PM
To:	Keiser, Holly
Cc:	Spencer, Becky
Subject:	RE: Reminder - Timesheets Due

No time off.
 -----Original Message-----
From: 	Keiser, Holly
Sent:	Thursday, September 27, 2001 2:39 PM
To:	Bailey, Susan; Boyd, Samantha; Cook, Mary; Farrell, Keegan; Gonzalez, Esmeralda; Greenberg, Mark; Heard, Marie; Hendry, Brent; Jones, Tana; Keiser, Holly; Koehler, Anne C.; Leite, Francisco Pinto; Nelson, Cheryl; Panus, Stephanie; Sayre, Frank; Shackleton, Sara; Spencer, Becky; St. Clair, Carol; Taylor, Mark E (Legal)
Subject:	Reminder - Timesheets Due

Timesheets are due tomorrow (Friday 9/28) for pay period September 16-30.  Please let me know your exception time.

Thank you,

Holly Keiser
Enron Wholesale Services
Legal Department
Phone: 713-345-7893
Fax: 713-646-3490
Location: EB 3887
Holly.Keiser@enron.com


The following message was sent to you as an opt-in subscriber to The eDirect Network. We will continue to bring you valuable offers on the products and services that interest you most. If you wish to unsubscribe please click here: Unsubscribe [IMAGE]

			 [IMAGE]
			  [IMAGE]    [IMAGE] [IMAGE]  [IMAGE]   [IMAGE]  RATES  ARE LOW - DON'T MISS THIS OPPORTUNITY   Good  or Bad Credit. Ideal  Time to Purchase a Home. Refinance  your Existing Mortgage - Lower your Current Payments. Convert  your Adjustable Rate Mortgage (ARM) to a low fixed loan. Convert  your ARM to a better ARM. Convert  your 30 yr Mortgage to a 15 yr Mortgage - build equity faster. Need  Cash? Home equity loan rates are priced right.   Save  Hundreds of Dollars Each Month - Rates are Great - Don't Miss This  Opportunity.  [IMAGE]  [IMAGE]
			[IMAGE]

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Great.  I'll be there.  Jim

Linda -- Please put on my calendar.

 -----Original Message-----
From: 	Novosel, Sarah
Sent:	Friday, August 10, 2001 10:52 AM
To:	Steffes, James D.
Subject:	Re: FW: Regulatory Affairs Panel Follow-Up & Future Meeting

Jim:

I will RSVP for you and me, if you're still interested in attending.  Please let me know if this has changed.

Sarah

	James D Steffes/ENRON@enronXgate 07/31/2001 05:37 PM 	   To: Sarah Novosel/Corp/Enron@ENRON  cc:   Subject: FW: Regulatory Affairs Panel Follow-Up & Future Meeting

Sarah --

I think that you and I should attend.  Thoughts?

Jim

 -----Original Message-----
From: 	"Jackie Gallagher" <JGallagher@epsa.org>@ENRON [mailto:IMCEANOTES-+22Jackie+20Gallagher+22+20+3CJGallagher+40epsa+2Eorg+3E+40ENRON@ENRON.com]
Sent:	Tuesday, July 31, 2001 3:33 PM
To:	acomnes@enron.com; Hawkins, Bernadette; Nersesian, Carin; Nicolay, Christi; Fulton, Donna; Scheuer, Janelle; jhartso@enron.com; Shelk, John; jsteffe@enron.com; Noske, Linda J.; Robertson, Linda; Ray.Alvarez@enron.com; Shapiro, Richard; Novosel, Sarah; SScott3@enron.com; Susan.J.Mara@enron.com; Hoatson, Tom
Subject:	Regulatory Affairs Panel Follow-Up & Future Meeting

MEMORANDUM

TO: Regulatory Affairs Committee
       Power Marketers Working Group

FROM: Jim Steffes, Regulatory Affairs Committee Chair
            Bob Reilley, Power Marketers Working Group Chair
            Julie Simon, Vice President of Policy
            Erin Perrigo, Manager of Policy

DATE: July 31, 2001

RE: Regulatory Affairs Panel Follow-Up & Future Meeting
       ?Thursday, September 13th

Attached you will find the presentations from EPSA's July 25th Regulatory Affairs meeting that focused on FERC's use of the hub-and-spoke method to evaluate market-based rate authority.  The speakers included John Hughes of ELCON, Diana Moss of FERC, Craig Roach of Boston Pacific Company and Don Santa of Troutman Sanders.  Also attached is EPSA's handout from the meeting outlining the hub-and-spoke method and its criticisms.

The meeting launched EPSA's effort to coordinate members' thinking on the hub-and-spoke issue and, by extension, the debate surrounding the definition of market power.  While EPSA has not expressly endorsed one particular method to determine market-based rates, we have written on the broader issue of market monitoring and market power assessment in various RTO dockets, and most recently in our Market Monitoring: A White Paper, which was filed in both California and New York
dockets.

Whether or not the hub-and-spoke method is the correct and most efficient model to determine market-based rate authority, an even larger issue also enters the debate -the definition of market power.  The issues are ripe for debate: we've seen it on the regulatory front, with FERC Commissioners calling to reassess the hub-and-spoke method, and on the political front, with politicians making allegations of market power abuse.

FERC's Order No. 2000 does allow market monitoring proposals to vary with RTO structure; however, one fundamentally important detail was left undecided in the rule - the definition of market power and abuse thereof.  Similarly, in the traditional definition of market power, "the ability to profitably sustain prices above competitive levels, acting alone or together with other firms," the definition of the word sustain remains subjective and unclear.  Therefore, as EPSA moves forward, we must be sure to endorse clear and consistent standards to identify and remedy anti-competitive behavior.

Next Steps:

EPSA would like to host a one-day roundtable discussion on the issue of market-based rate methods and EPSA's forward-looking position on the subject.  We are planning for Thursday, September 13th, here in Washington, DC.  The meeting will piggyback our Annual Board Planning meeting that will be held the following day.  We would like to gauge members' interest in attending the meeting and need to get a preliminary headcount so as to secure an appropriate venue.  If you are interested in attending the September 13th meeting, please RSVP to Jackie Gallagher at jgallagher@epsa.org or 202-628-8200 by Friday, August 10th.  An announcement with the exact time and location will be forwarded in the near future.  If you have any questions, please contact Erin Perrigo at eperrigo@epsa.org.

 - EPSA Po1.ppt << File: EPSA Po1.ppt >>
 - epsa1.ppt << File: epsa1.ppt >>
 - EPSA market power.ppt << File: EPSA market power.ppt >>
 - mp_prof.pdf << File: mp_prof.pdf >>
 - CaliforniaSpecialReport.pdf << File: CaliforniaSpecialReport.pdf >>


Mark,

We would very much like to consider using Black and Veatch for our Longview
Project in Washington.  I understand that Enron is in the middle of
litigation re a Puerto Rico project.  Despite our Caribbean problems, B&V is
a large, credible firm with multiple project teams, including one that is
well positioned to serve our needs in the Pacific Northwest.

Are you aware of any issues in dealing with them?

Regards,

Chris


FYI
---------------------- Forwarded by Larry Joe Hunter/HOU/ECT on 05/29/2001
02:08 PM ---------------------------

	From:  Diane Anderson @ ENRON                           05/29/2001 12:19 PM

To: Debbie Nicholls/Enron@EUEnronXGate
cc: Larry Joe Hunter/HOU/ECT@ECT, Patrick Mulvany/ENRON@enronXgate, Bob
Bowen/HOU/ECT@ECT
Subject: Re: EOL Trades with Glencore Commodities Limited

Hi Debbie.

I left a message for Miriam - but to keep you in the loop - I have researched
our deals done
with Glencore Commodities Limited for the last four months, finding that
every deal was faxed
T+1 except two instances where a deal went out T+2, and the three deals from
last Thursday
which fax failed on Friday( I've signed and sent them this morning.).

Also, considering the time difference, ENA may fax out a deal on T+1 after
Europe
has gone home, so the counterparty will not see the confirm till the morning
of T+2.

Glencore should also get themselves set up with back office user access to
EOL, so they
can peruse their deals while awaiting the confirm.

I have also sent word to our legal department asking them to look into
Glencore's
governing law status.

I'll convey this to Miriam when I speak with her.
Thanks,
Diane

From: Debbie Nicholls/Enron@EUEnronXGate on 05/29/2001 03:42 PM GDT
To: Larry Joe Hunter/HOU/ECT@ECT, Julie Brewer/NA/Enron@Enron, Diane
Anderson/NA/Enron@Enron
cc:

Subject: EOL Trades with Glencore Commodities Limited

Hi,

I have received a call from Miriam in Glencore re EOL transactions.  Her
concerned are that she does not receive the confirmations within 24 Hours
(from Houston) of the deal being dealt which we are subject to in London and
she would like to see this from ENA.  Also, when Glencore agreed to trade EOL
transactions they stipulated that English law be used for all transactions,
presuming these would be the same from ENA.  She has tried to call but only
gets voice mail, could you please contact her to discuss these and any other
issues she has with EOL.

Tel: 44 20 7412 3190

Regards,

Debbie


Believe it or not, they have not mentioned an extension.  They figure we can
sign on Friday.

When do you want to talk?

Kay

	From:  Ben F Jacoby @ ECT                           04/10/2001 04:53 PM

Sent by: Ben Jacoby@ECT
To: Kay Mann, Chris Booth
cc:

Subject: RE: FW: Comments to Turbine Purchase Documents

Kay:

I'd like to talk through the points below so I can make sure I understand the
issues. By the way, I did not agree to anything with Michael, in fact I told
him it was easier to not include any change order provisions. Have they asked
for an extension yet?

Regards,

Ben
---------------------- Forwarded by Ben Jacoby/HOU/ECT on 04/10/2001 04:52 PM
---------------------------

"Reuter, Marisa" <MReuter@KSLAW.com> on 04/10/2001 03:49:15 PM
To: "'Chris.Booth@enron.com'" <Chris.Booth@enron.com>, Ben.Jacoby@enron.com
cc: Kay.Mann@enron.com, "Keffer, John" <JKeffer@KSLAW.com>
Subject: RE: FW: Comments to Turbine Purchase Documents

Chris and Ben:

Since Kay is tied up on a 3:00 conference call, she asked me to summarize
the issues raised by Marguerite's latest mark-ups.  The issues are as
follows:

1. In Section 6(h) regarding the Change Order, Marguerite has added a rider
pursuant to which ENA would be required "to cause the Original Purchaser
and/or the Agent to use commercially reasonable efforts to afford NorSub (or
its agent or representative), upon request of NorSub, such opportunity or
opportunities to discuss with GE (or to consult with GE concerning) such
matters pertaining to the Turbines and/or the Original Turbine Contract as
NorSub desires to discuss with GE (or to consult with GE concerning) and
which GE is obligated under the Original Turbine Contract to discuss with
(or concerning which GE is obligated under the Original Turbine Contract to
consult with) the Purchaser and/or Agent thereunder; provided, however, that
each of ENA, the Original Purchaser and the Agent shall have the right to be
present at, and to participate in, each such discussion (or consultation."
According to Jerry DeBerry, Michael Young raised this concept with Ben, and
Ben accepted it in principle.  Please confirm if you are okay with this
rider going into the Letter Agreement.

2.  In Section 8(a), Marguerite has added a clause whereby ENA agrees to be
responsible for, and to pay GE when due, and to hold the LLC and NorSub
harmless from any damages or indemnification payments which become due and
payable to GE on and after the Closing Date as a result of any event
occurring, or any circumstance arising, prior to the Closing Date.  Since
this provision effectively shifts the Change Order risk onto ENA, Kay
suggests that we only accept the provision if a reciprocal provision is
included that allows ENA to terminate the agreement as a result of any event
or circumstance that increases the Purchase Amount.  Do you agree?

3.  Finally, with respect to the LLC Agreement, NorthWestern would like to
be able to exercise its call rights with relative freedom while forcing ENA
to wait until Takeover or 12/31/02 before being able to exercise its put
rights.  Neither Jerry nor Marguerite understands why ENA cares when
NorthWestern takes ENA out.

Jerry and Marguerite were working on scheduling a conference call for
sometime tomorrow, so I will send you an e-mail confirming the details as
soon as I hear back from them.

Best regards,

Marisa

-----Original Message-----
From: Chris.Booth@enron.com [mailto:Chris.Booth@enron.com]
Sent: Tuesday, April 10, 2001 9:22 AM
To: Young, Michael
Cc: Kay.Mann@enron.com; jkeffer@kslaw.com; mreuter@kslaw.com;
Ben.Jacoby@enron.com
Subject: Re: FW: Comments to Turbine Purchase Documents

Michael,

We (Enron and outside counsel) have not received any documents either faxed
or via e-mail as of Tuesday morning.  Once we receive the documents, we
would like time to review the comments before we engage in a conference
call.  Please either resend the documents to Kay Mann, John Keffer and
myself.

Regards,

Chris

"Young, Michael" <Michael.Young@northwestern.com> on 04/10/2001 08:18:31 AM

To:   "'chris.booth@enron.com'" <chris.booth@enron.com>
cc:

Subject:  FW: Comments to Turbine Purchase Documents

Chris, in case Kay is not in today, I provide this to you.  Please forward
to Ben at your earliest convenience.  Thanks.
-----Original Message-----
From: DeBerry, Jeremiah A. [mailto:JeremiahDeberry@paulhastings.com]
Sent: Monday, April 09, 2001 5:43 PM
To: 'Kay.Mann@Enron.com'; 'JKeffer@KSlaw.com'
Cc: Young, Michael; Kahn, Marguerite R.
Subject: Comments to Turbine Purchase Documents

We have forwarded to you via facsimile our comments to the Letter Agreement
and the LLC Agreement. The majority of our comments, as you will note, are
intended to clarify the understanding of the parties with respect to the
various matters set forth in such documents and are not intended to "change
the deal". Except that, upon the advise of our tax counsel, we have
adjusted the amounts of the promissory notes to be issued in connection
with the transaction in order to maximize the LLC's basis in the Turbines.
We believe this is consistent with your initial draft of the Letter
Agreement.

Also, please note that we have included additional language in Section 6 of
the Letter Agreement which provides NorthWestern with the opportunity to
consult with GE on matters relating to the Turbines. This reflects our
understanding of an agreement that had been reached among the parties.

With respect to the LLC Agreement, we would like to discuss with you the
following: (i) the timing of the exercise of the Call Right and (ii) the
intent of your proposed language in Section 7 relating to the rights of
each Member to act in its own best interests with respect to the Call and
Put Rights.  To that end, we propose scheduling a conference call on
Tuesday afternoon, April 11, 2001.  Please contact me as soon as possible
with a time that is convenient for your team.

We look forward to hearing from you.

Note: We will forward to you shortly, revised drafts of the documents for
which we have drafting responsibility.

************************************************
Jeremiah A. DeBerry, Esq.
Paul Hastings Janofsky & Walker LLP
399 Park Avenue
New York, New York 10022
Phone: (212) 318-6458
Fax:     (212) 319-4090

"paulhastings.com" made the following annotations on 04/09/01 20:42:52
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Hi!

Please test following website.

http://ermreports.test.corp.enron.com

Your feedback/suggestions will be greatly appreciated.
Once testing is done we will decommission IQ reports and rollout this website
in Production.

Thank You
-Kirti Patel
x33587


I reached Greg today and had a nice conversation. He encouraged me to call
you.

Having missed you today I wanted to make a few suggestions.
With regard to your reservations about an investment in plant and equipment-
I understand that any such investment would be: limited and subject to your
being very attracted to the deal. I am confident that I can bring you deals
that will sell themselves.
-need to have an exit strategy that would allow an exit within 2-4years

A trading strategy without investment in plant and equipment will yield
attractive results.

With regard to how that would look - I will draft a short business plan and
send it to you next week basing it on a pure trading basis.

Let me invite you and Greg to a breakfast (or any other meal) during the week
of 16 Jan. That will give me a chance to get a few numbers in your hand
prior.

Regards for the New Year
George Dorsey
713 302 2047
406 582 0974


Adam Wenner prepared the attached chart laying out the various mitigation
options.  As you can see from the chart, some of the mitigation measures are
much more complicated than others.  FERC appears to have concerns with the
more complicated mitigation measures, but the more complicated measures also
cost little or nothing to implement.

Please call me if you have any questions.

Sarah
---------------------- Forwarded by Sarah Novosel/Corp/Enron on 08/04/2000
04:41 PM ---------------------------

"Wenner, Adam" <awenner@velaw.com> on 08/04/2000 03:27:50 PM
To: "'Novosel, Sarah'" <snovose@enron.com>
cc:

Subject: FW: Portland General/Sierra Pacific Resources Merger - Mitigatio n
Measures

Sarah -- attached is the chart of current and proposed mitigation measures.
I think it would be useful to distribute this prior to our call on Monday,
so that the group could be thinking along those lines sooner rather than
later.

>  <<97915_1.doc>>

 - 97915_1.doc


Lisa,

Per our discussion, the following should be inserted at the end of
Section 18:

"except that Subscriber will be liable for all costs, expenses and
direct damages arising from Subscriber's failure or refusal to settle on
terms entered or approved by Subscriber"

In addition, the phrase: "and/or consequential" should be deleted from
Sections 6.1 and 6.2.  Please call me at 713-220-4124 after you have had
a chance to review  these changes.

Thanks,

Jason


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Dear list member,
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FYI, for what it is worth, I spoke with Bryan Hassler today and he said "that everyone he has talked to" (Reliant, Sempra etc.) had told him that the market is very slow right now.  For whatever that is worth.


John Van Gelder has recently transferred from EBS-Portland to work in the
West Origination group.

John began working with Enron Energy Services as a summer intern in 1998. In
January 2000, he started working with Enron Broadband Services, and was
promoted from Associate to Manager while working with their Wholesale
Origination group.

John received his Bachelors degree in Mechanical Engineering at the
University of Kansas and completed the Master's program at the University of
Michigan's School of Business Administration.

Please welcome John to our Portland office!

Regards,

Chris


Kevin-

I need to apologize to you for speaking out-of-turn yesterday about
work-in-progress. Any model our group has of the natural gas system remains
completely untested and unvalidated. I have not been asked by any one of my
superiors, Vasant or Wince, to give advice to anyone at Enron concerning
natural gas; I am not an expert in trading natural gas. My work exists within
a large and professional group, and, to the point, Vince alone will decide
when, and if, any gas model is suitable for dissemination within Enron.

Sincerely,

Clayton Vernon
Manager, Research


There will be a meeting to discuss the plant visits at 1:00 pm Today!  The
room is EB 3125B.  Please let Don Miller know if you won't be able to make
it.  Thanks
Ben 3-7998


Initially, I was inclinded to leave him on, but go ahead and take him off.

Leslie

	Tana Jones
	08/22/2000 09:22 AM

		 To: Leslie Hansen/HOU/ECT@ECT
		 cc:
		 Subject: Re: EOL CP Approval

Should I take David off?

	Leslie Hansen
	08/22/2000 09:14 AM

		 To: Tana Jones/HOU/ECT@ECT
		 cc: Shari Stack/HOU/ECT@ECT
		 Subject: EOL CP Approval

Tana:

Beginning this week, Shari will reply to EOL credit approval lists.  I will
be out after Tuesday of next week through Friday, Sept. 8.  Will you add
Shari to the distribution list effective as soon as possible so that she
receives the list tomorrow.

Thanks,

Leslie


fuck you

y6qa@msn.com on 04/15/2001 07:41:11 AM
Please respond to annamaedicastro2195@witty.com
To: bib28@msn.com
cc:
Subject: Stop harrassment by creditors,
today!                                                   [amfos]

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

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

Scott Mollner Recommendation
http://www.carrfut.com/research/Energy1/recom1-15-02.pdf


----- Forwarded by Steven J Kean/NA/Enron on 03/13/2001 01:16 PM -----

	eserver@enron.com
	03/12/2001 12:24 PM

		 To: "Steven.J.Kean@enron.com" <Steven.J.Kean@enron.com>
		 cc:
		 Subject: <<Concur Expense Document>> - General Expenses

The following expense report is ready for approval:

Employee Name: John Hardy Jr Jr.
Status last changed by:  Automated Administrator
Expense Report Name: General Expenses
Report Total: $12,435.04
Amount Due Employee: $89.90

To approve this expense report, click on the following link for Concur
Expense.
http://nahou-wwxms01p


----- Forwarded by Mark Taylor/HOU/ECT on 12/06/2000 02:10 PM -----

	SULLIVAN&CROMWELL@sullcrom.com
	11/28/2000 04:55 PM

		 To: Mark.Taylor@enron.com
		 cc:
		 Subject: S&C Memo Re: Commodity Futures Trading Commission: Final Rulemaking
for a New Regulatory

Re: Commodity Futures Trading Commission: Final Rulemaking for a New
Regulatory Framework for Multilaeral Transaction Execution Facilities,
Intermediaries and Clearing Organizations

                     Attached is a memorandum from Sullivan & Cromwell
concerning the above subject. A summary is also included at the end of
the text of this e-mail message.

                    The attached file is in Adobe Acrobat
format.  We believe most PCs will already have an Acrobat viewer
loaded; we can provide free copies if Acrobat is not already loaded,
and free copies can also be downloaded from the Adobe Acrobat web
site at www.adobe.com.  To view or print the memo use your e-mail
system's function for opening attachments in their native format.
Hard copies can be obtained from Ivy Moreno at S&C in New York,
telephone 212-558-3448, e-mail: Morenoi@sullcrom.com.

SUMMARY

                      On November 22, 2000, the Commodity Futures Trading
Commission ("CTFC")approved four releases setting out final rules for
regulatory reform (the "Final Rules").  The Final Rules largely follow
the proposed rules issued by the Commission on June 8, 2000.*
The Final Rules are to be effective 60 days after their publication in
the Federal Register.

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

This e-mail is sent by a law firm and contains information
that may be privileged and confidential. If you are not the
intended recipient, please delete the e-mail and notify us
immediately.

 - CMS10713.pdf


Are you going to nom these volumes for the rest of the month?

D

	From:  Charlotte Hawkins                           04/04/2000 01:39 PM

To: Daren J Farmer/HOU/ECT@ECT
cc:
Subject: April, Aspect Volume @ Texas City

Daren:

Just wanted to follow up with you on the April noms at Texas
City..............   the volumes recorded for April 1 were 5300 and 1165...
since we have been directed not to change Sitara deal tickets for now, would
you please correct?

Thanks!!

Charlotte

---------------------- Forwarded by Charlotte Hawkins/HOU/ECT on 04/04/2000
01:37 PM ---------------------------

	From:  Charlotte Hawkins                           03/30/2000 11:33 AM

To: Daren J Farmer/HOU/ECT@ECT, Stacey Neuweiler/HOU/ECT@ECT
cc: Vance L Taylor/HOU/ECT@ECT, Mary Jo Johnson/HOU/ECT@ECT, Melissa
Graves/HOU/ECT@ECT
Subject: April, Aspect Volume @ Texas City

For April 1, 2000:

Cross Media                         989815 =    903 MMBtu
TNCT                                      989816  = 5878  MMBtu

Any questions, just call.

Thanks,

Charlotte Hawkins


Attached is the EWS Tax Group's assessment of California Assembly Bill No. 128.  I look forward to speaking with you later this afternoon.  Best regards.  Steve.


what is up?? ..... we need to have a beer sometime!

MC


Kathryn -

Attached is a revised version of the annex for ConfirmLogic.  I have
attempted to capture our discussion from late last week and ensure that both
the single and dual publisher situations are covered.  Please review this at
your convenience and let me know your thoughts.

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


I spoke with Bob earlier this week and he outlined the plan for me.  My
understanding is that ECTRIC will no longer be used for London financial
trading. If that is correct, from a credit perspective, this is no different
than setting up a new legal entity, as there will be no possibility for
netting benefits.  To the extent that there is little overlap of ECTRIC/ENA
customers with Softs customers, the impact may be minimal.  Trena, can you
offer comment on this?  Where there is overlap, there is the potential for
smaller credit thresholds within the ISDA as we would need to divide the
total line among different relationships.  Trena, we should follow up on this
when you have some time.

Thanks,
Tanya
 -----Original Message-----
From:  Musch, Susan
Sent: Friday, March 09, 2001 10:55 AM
To: 'Robert Bruce/Enron North America@ENRON'; McFarland, Trena
Cc: Juggins, Janine; Nelson, Rod; Glover, Sheila; Rohauer, Tanya; Aronowitz,
Alan; Marsh, Jonathan; Taylor, Mark; Douglas, Stephen H.
Subject: RE: Entity for softs trading- signoff

I'm okay with using ECTRIC for softs global trading (as further described in
Robert Bruce's e-mail) as well.

Best regards,
Susan

 -----Original Message-----
From:  Bruce, Robert   On Behalf Of Robert Bruce/Enron North America@ENRON
Sent: Thursday, March 08, 2001 4:21 PM
To: McFarland, Trena
Cc: Juggins, Janine; Nelson, Rod; Glover, Sheila; Musch, Susan; Rohauer,
Tanya; Aronowitz, Alan; Marsh, Jonathan; Taylor, Mark
Subject: Re: Entity for softs trading- signoff

Yes, legal is OK with this.  Trades executed from the London desk will be
arranged through EEFT; trades executed from the New York desk will not need
to be.  In either case, the Enron principal to the transaction would be
ECTRIC.

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

	Trena McFarland 03/08/2001 03:49 PM 	   To: Robert Bruce/NA/Enron@Enron,
Janine Juggins/LON/ECT@ECT, Susan Musch/ENRON_DEVELOPMENT, Rod
Nelson/LON/ECT@ECT, Tanya Rohauer/HOU/ECT  cc: Sheila Glover/HOU/ECT@ECT
Subject: Entity for softs trading- signoff

Everybody

It is my understanding that for we can use the single entity ECTRIC  for
softs global trading(London and New York).

Please confirm that each of your respective departments is in agreement with
this.

Thank you

Trena McFarland
Enron Agricultural Trading


Jeff and Vince..."FYI''... christie.
---------------------- Forwarded by Christie Patrick/HOU/ECT on 12/19/2000
09:23 PM ---------------------------

Melinda McCarty@ENRON
12/19/2000 03:05 PM
To: Christie_Patrick@enron.com
cc:
Subject: Wharton Trip January 18, 2001

CP-

FYI - attached is the memo that I faxed to the Parkplace Warwick.  I copied
Donna Piazze at Wharton also.

Maria


FYI.
---------------------- Forwarded by Kay Mann/Corp/Enron on 07/11/2000 04:30
PM ---------------------------

	From:  Gregg Penman                           07/11/2000 04:10 PM

To: Kay Mann/Corp/Enron@Enron
cc:

Subject:


do you want to go beat the crap out of some OU fans in Dallas this weekend?


The two new pooling points are as follows:   1).  Aqua Dulce Pool   = 987349

            2):  Corpus Christi Pool  =  987350


Enron has consented to allow the Federal Bureau of Investigation to search the Enron Building and to interview employees regarding allegations of document destruction.  The company encourages all employees to fully cooperate with the FBI.

The company has retained Michael Levy and his law firm Swidler, Berlin, Shereff, Friedman, to advise any employee regarding this matter and to be present with them during any interviews by government investigators.  If you would like to speak with an attorney, please contact Ned Crady of the Legal Department at 3-4558 or contact Michael Levy's office in Washington, D.C. at 202-295-8414 and they will direct you to him here in Houston.


Amerex is showing a deal on their checkout I did not verbal

Enron buys from Aquila Sept. 01 PV 25 mw peak hrs at $292.50


I'll change the list.  Thanks for getting back to me.

 -----Original Message-----
From: 	Chandler, Bob
Sent:	Friday, October 26, 2001 9:11 AM
To:	McConnell, Mark
Cc:	Watson, Kimberly
Subject:	RE: Questar Southern Trails Data Room OCT 29 - 30 (Monday and Tuesday)

I will be on vacation during that time period and am not planning to go to the data room.

 -----Original Message-----
From: 	McConnell, Mark
Sent:	Thursday, October 25, 2001 10:34 AM
To:	Watson, Kimberly; Abdmoulaie, Mansoor; Brassfield, Morris; Huber, Lee; Chandler, Bob; Centilli, James; Ratner, Michael; Guthrie, Robert; Rice, Greek; Hawkins, Don; Jones, Nyree; Dowd, Stephen; Stephens, LD; Gleffe, Larry; Ames, Mike; Schick, Warren; Huber, Lee; Campbell, Larry
Cc:	Harris, Steven; Alters, Dennis; Rapp, Bill; Hayslett, Rod; Sandt, Jim; Saunders, James
Subject:	Questar Southern Trails Data Room OCT 29 - 30 (Monday and Tuesday)

We will be able to attend the Questar Southern Trails data room on Monday and Tuesday (Oct 29th and 30th) as originally planned.  If you only need one day, please let me know which day you'll be attending.

Questar is located at 180 East 100 South, Salt Lake City, Utah.  Our main contacts are Jodi Starley at (801) 324-2082 and Gary Schmitt at (801) 324-2082. The hours of the data room are 8:00 - 4:00.

They are looking at our data request and working to make sure they can accomodate us.  Also,  Engineers available for interviewing are only available on Monday.  Legal staff needed to be interviewed are only available on Tuesday.  If there are other staff that are needed for interviews, please let me know.

Some attendees are staying at the Salt Lake City MARRIOTT SALT LAKE CITY, 75 S. West Temple, Salt Lake City, UT 84101 Phone: 1-801-531-0800 FAX: 1-801-532-4127
 for Sunday and Monday nights.  You need to make your own travel reservations and it is advised that you do that as soon as possible.

The Bid for Southern Trails West Leg) is due December 10th.

I show the following people going to the data room:

1.	L.D. Stephens - Team Leader/Operations
2.	Larry Campbell - Environmental
3.	Larry Gleffe - ROW
4.	Mike Ames - Pipeline Safety
5.	Warren Schick - Property Tax
6.	Bob Chandler - Finance
7.	Stephen Dowd - Corp Dev
8.	Kim Watson - Marketing
9.   Mark McConnell - Marketing

Please let me know if this list needs any corrections.

Mark

Mark McConnell
Transwestern Pipeline Company
713-345-7896   office
713-822-4862   cell
713-646-2551   fax
mark.mcconnell@enron.com


-----Original Appointment-----
From: 	Gilbert, Scotty
Sent:	Wednesday, October 24, 2001 4:12 PM
To:	Gilbert, Scotty; Richter, Jeff; White, Stacey W.
Subject:	hanson cement Deal,  Risk
When:	Thursday, October 25, 2001 2:00 AM to Friday, October 26, 2001 2:00 AM (GMT-06:00) Central Time (US & Canada).
Where:	Mt Hood

I would like to have a "Face Off" meeting to discuss how we are going to set this deal up and manage the different risk components.


Melba:  This looks fine.  Sara

P.S.  Are there other financial powere products with a 10 Business Day
payment period?

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

	Melba Lozano
	01/24/2001 09:37 AM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc: shari Stack/HOU/ECT@ECT, Melissa Ann Murphy/HOU/ECT@ECT, Robert B
Cass/HOU/ECT@ECT, Kevin Meredith/Corp/Enron@ENRON
		 Subject: Payment Date for financial power trades on EnronOnline

Sara,

Have gotten a chance to look at this?  Please let me know if you have any
questions or concerns.

Thanks,

Melba
---------------------- Forwarded by Melba Lozano/HOU/ECT on 01/24/2001 09:35
AM ---------------------------

From:  Melba Lozano
  01/22/2001 10:46 AM

To: Sara Shackleton/HOU/ECT@ECT
cc: Shari Stack/HOU/ECT@ECT, Melissa Ann Murphy/HOU/ECT@ECT, Robert B
Cass/HOU/ECT@ECT, Kevin Meredith/Corp/Enron@ENRON
Subject: Payment Date for financial power trades on EnronOnline

Sara,

Melissa Murphy has asked me to revise the language for all financial power
products on EnronOnline.  Please let me know if the section below (in blue)
is o.k. by you.  If you have any questions please let me know.

Thanks,

Melba

Example:

US Pwr Fin Swap  TVA MWD Peak            Jun01           USD/MWh

A US Power financial Swap Transaction with Enron North America Corp. under
which the Seller pays a Floating Price and the Buyer pays the price submitted
by Counterparty on the website (the Fixed Price) in respect of the Notional
Quantity per Determination Period. The Notional Quantity per Determination
Period shall be the volume submitted by Counterparty on the website,
multiplied by the number of applicable hours in such Determination Period.
Each calendar month during the term of the Transaction will be a
Determination Period; provided that, if the term of the Transaction is less
than one calendar month the Determination Period shall be the term of the
Transaction. The Payment Date(s) for Transactions which are less than one
month will be the fifth (5th) Business Day following the last day of the
month that includes the Determination Period. The Payment Date(s) for
Transactions which are one month or longer will be the fifth (5th) Business
Day following the date on which the Floating Price is determinable.
The transaction is for the applicable hours as set forth herein on each
Delivery Day for the Effective Date 01 Jun 2001 to the Termination Date 30
Jun 2001.
The Floating Price during a Determination Period shall be the average of the
daily prices listed in the Index for power delivered during Peak hours on
each Delivery Day during the applicable Determination Period.  The Floating
Price for each Determination Period shall be calculated utilizing the daily
prices published in Megawatt Daily's Market Report under the headings "Trades
for Standard 16-Hour Daily Products;Weighted Average Index; TVA, into"  (the
"Index").
The price is quoted in US Dollars per unit of volume, which will be the
Contractual Currency.
The unit of measure against which the price is quoted shall be megawatt-hours
(MWh) and the quantity shown shall be in MW's delivered in each applicable
hour for the duration of the Transaction (the "Hourly Quantity').
The transaction is for on-peak ("Peak") hours on each Delivery Day beginning
with the hour ending 0700 (6:00 am) and concluding with the hour ending 2200
(10:00 pm) Central Prevailing Time. "Delivery Day" means a day during the
term of the transaction that is a Monday, Tuesday, Wednesday, Thursday, or
Friday, excluding any day that is a NERC holiday.

Existing Language:
A US Power financial Swap Transaction with Enron North America Corp. under
which the Seller pays a Floating Price and the Buyer pays the price submitted
by Counterparty on the website (the Fixed Price) in respect of the Notional
Quantity per Determination Period. The Notional Quantity per Determination
Period shall be the volume submitted by Counterparty on the website,
multiplied by the number of applicable hours in such Determination Period.
Each calendar month during the term of the Transaction will be a
Determination Period; provided that, if the term of the Transaction is less
than one calendar month the Determination Period shall be the term of the
Transaction. The Payment Date(s) will be 10 calendar days following the last
day of the month that includes the Determination Period.
---------------------- Forwarded by Melba Lozano/HOU/ECT on 01/22/2001 10:30
AM ---------------------------

Melissa Ann Murphy
01/18/2001 10:38 AM
To: Robert B Cass/HOU/ECT@ECT, Melba Lozano/HOU/ECT@ECT
cc: Sara Shackleton/HOU/ECT@ECT, Leslie Hansen/HOU/ECT@ECT, Kim S
Theriot/HOU/ECT@ECT, Leslie Reeves/HOU/ECT@ECT, Stacey W White/HOU/ECT@ECT
Subject: Payment Date for financial power trades on EnronOnline

Hello, Kim Theriot and Leslie Reeves have spoken with Debbie Brackett in
credit to discuss the payment date for financial power transactions done on
EnronOnline.  The confirmation letters (for all financial power trades) that
I send out have the following payment date language on them:

The fifth (5th) Business Day following the date on which the Floating Price
is determinable (for trades one month or longer)

The fifth (5th) Business Day following the last day of the month that
includes the Determination Period (for trades less than one month)

The language on EnronOnline is different.  EnronOnline has 10 calendar days
instead of 5 Business Days (see the EnronOnline definition below).

Debbie Brackett wants the payment date to remain as 5 days for netting
purposes across ENA.

Please let me know if there is anything else I need to do in order to get
this language changed on EOL for all financial power products.

Thank you,
Melissa
3-1886


AEI IN AN INSTANT for Monday, October 9, 2000
Information on current and upcoming events, publications, and other
activities of the American Enterprise Institute
___________________________________________________

UPCOMING EVENTS

Unless otherwise indicated, the events listed below will take place in the
Wohlstetter Conference Center, on the twelfth floor at AEI.

*Trade Policy and the Presidential Election*
Speakers include Jagdish Bhagwati, Rep. Jim Kolbe (R.-Ariz.), Ira Shapiro,
and Michael B. Smith
Trade Policy Seminar, Wednesday, October 11, 8:00-9:30 a.m.
http://www.aei.org/inv001011.htm (information and registration)

*Culture and Economic Development*
Speakers include Lawrence E. Harrison, Samuel P. Huntington, Nicholas
Eberstadt, Michael Novak, and Frank Vogl
Book Forum, Thursday, October 12, 10:00 a.m.-noon
http://www.aei.org/inv001012.htm (information and registration)

*Are Corporate Tax Shelters an 'Abuse' That Should Be Stopped?*
Speakers include Michael Gilman, George Plesko, and Daniel Shaviro
Tax Policy Seminar, Friday, October 13, 9:15-11:00 a.m.
http://www.aei.org/inv1013.htm (information and registration)

*Venezuela's New Path--Has Chavez Found the Way?*
Speaker: Mark Falcoff
Friday Forum, October 13, 12:30-2:00 p.m.
To register, contact Jeannette Warren (202.862.4878, jwarren@aei.org).

*On Two Wings: The Humble God and Common Sense at the Founding of the United
States*
Speaker: Michael Novak
Four Lectures, October 18, October 25, November 1, and November 8, 4:30 p.m.
For more information, contact Catherine Horan (202.319.5259) or Laurel
Cornell (202.862.5839).
NOTE: These lectures will take place at the Columbus School of Law, Catholic
University, Washington, D.C.

*Modernizing the People's Liberation Army*
Speakers include James R. Lilley, Doug Lovelace, and Larry Wortzel
Book Forum, Thursday, October 19, 3:00-5:00 p.m.
http://www.aei.org/inv001019.htm (information and registration)

*Poor Democracy*
Speaker: Leon Aron
Friday Forum, October 20, 12:30-2:00 p.m.
To register, contact Jeannette Warren (202.862.4878, jwarren@aei.org).

*The New Era of Taiwan's Democratization*
Speakers include You-ping Cheng, Alexander Huang, James R. Lilley, Chia-lung
Lin, and Emile Sheng
Symposium, Monday, October 23, 9:00 a.m.-3:00 p.m.
To register, contact Joanna Yu (202.862.5806, jyu@aei.org).
___________________________________________________

NEW PUBLICATIONS

Optional Federal Chartering and Regulation of Insurance Companies, ed. Peter
J. Wallison
Book, AEI Press
http://www.aei.org/shop1/shops/1/m-o.htm#0303 (order form)
http://www.aei.org/bs/bs12110.htm (book summary)

Preparing to Be President: The Memos of Richard E. Neustadt, ed. Charles O.
Jones
Book, AEI Press and Brookings Institution Press
http://www.aei.org/shop1/shops/1/p-r.htm#0298 (order form)
http://www.aei.org/bs/bs12148.htm (book summary)
http://www.aei.org/shop1/shops/1/4139-6.pdf (full text)

Deregulation of Network Industries: What's Next? ed. Sam Peltzman and
Clifford Winston
Book, AEI-Brookings Joint Center for Regulatory Studies
http://www.aei.brookings.org/publications/abstract.asp?pID=88 (abstract)
http://www.aei.brookings.org/publications/books/deregulation.pdf (full text)

*Why Socialism Failed in the United States,* by Seymour Martin Lipset
Bradley Lecture, October 2, 2000
http://www.aei.org/bradley/bl001002.htm (full text)

*China after Communism,* by Arthur Waldron
Bradley Lecture, September 11, 2000
http://www.aei.org/bradley/bl091100.htm (full text)

*Oil: It Could Get Ugly,* by John H. Makin
Economic Outlook, October 2000
http://www.aei.org/eo/eo12149.htm (full text)

AEI Newsletter, October 2000
http://www.aei.org/nl/nloct00.htm (full text)

*Fair Use of Antitrust Law,* by Robert E. Litan
Policy Matters, September 2000
http://www.aei.brookings.org/publications/policy/policy_00_14.asp (full text)

*The Regulation of Derivative Instruments*
Shadow Financial Regulatory Committee Statement, September 25, 2000
http://www.aei.org/shdw/shdw163.htm (full text)

*Privatizing the Housing GSEs*
Shadow Financial Regulatory Committee Statement, September 25, 2000
http://www.aei.org/shdw/shdw164.htm (full text)

*Al Gore and the 'Wicked Project': Aboard the Resentment Special,* by Michael
Novak
Article in National Review, September 25, 2000
http://www.aei.org/ra/ranova000925.htm (full text)

*How Al Turned the Corner,* by William Schneider
Article in National Journal, September 23, 2000
http://www.aei.org/ra/raschn000923.htm (full text)

*No Consensus on Security Council Reform,* by John R. Bolton
Article in the Earth Times, September 21, 2000
http://www.aei.org/ra/rajrb000921.htm (full text)

*Gender Gap Calculus,* by Karlyn H. Bowman
Article in the Washington Times, September 21, 2000
http://www.aei.org/ra/rabowm000921.htm (full text)

*Facing the Future Digitalized World and Much Faster, Cheaper Computing,* by
Newt Gingrich
Book Review in the Washington Times, September 17, 2000
http://www.aei.org/ra/raging000917.htm (full text)

*A Duke-Out Over...Paradigms,* by William Schneider
Article in National Journal, September 16, 2000
http://www.aei.org/ra/raschn000916.htm (full text)

*Gore Getting over Clinton Fatigue as Race Enters the Homestretch,* by Karlyn
H. Bowman
Article in Roll Call, September 14, 2000
http://www.aei.org/ra/rabowm000914.htm (full text)

*Broadcasting Freedom: The Cold War Triumph of Radio Free Europe and Radio
Liberty,* by Mark Falcoff
Book Review in Commentary, September 2000
http://www.aei.org/ra/rafalc0009.htm (full text)

*The 'Chineseness' of Taiwan,* by Arthur Waldron
Article in Policy Review, August/September 2000
http://www.aei.org/ra/rawald0008-09.htm (full text)
___________________________________________________

OTHER ACTIVITIES

At its annual dinner on February 13, AEI will honor Clarence Thomas,
associate justice of the Supreme Court, with the 2001 Francis Boyer Award.
The Francis Boyer Award recipient, selected by AEI's Council of Academic
Advisers, is an eminent thinker who has made notable intellectual or
practical contributions to American society. Thomas will deliver the
Institute's 2001 Francis Boyer Lecture at the dinner.

http://www.aei.org/boyer/dinner.htm (information)
http://www.aei.org/boyer/dinnerform.htm (ticket purchase form)
___________________________________________________

RELEVANT TO THE NEWS

On October 4, the Federal Communications Commission suspended for sixty days
two federal rules requiring broadcasters to give candidates free air time to
respond to campaign endorsements or personal attacks. AEI associate scholar
Daniel E. Troy has commented in the past on these and other restrictions by
the FCC:

*End FCC Speech Restrictions on Broadcasters,* by Daniel E. Troy
On the Issues, August 2000
http://www.aei.org/oti/oti11989.htm (full text)

*The FCC's Squeeze on Religious Broadcasting,* by Daniel E. Troy
On the Issues, March 2000
http://www.aei.org/oti/oti11485.htm (full text)

*Banning Ads Just Got Harder,* by Daniel E. Troy
Article in the Wall Street Journal, June 21, 1999
http://www.aei.org/ra/ratroy8.htm (full text)
___________________________________________________

American Enterprise Institute
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