FYI
---------------------- Forwarded by Mary Hain/HOU/ECT on 01/10/2001 09:11 AM
---------------------------

Shelley Corman@ENRON
01/10/2001 07:54 AM
To: Nancy Bagot/OTS/Enron@ENRON, John Ballentine/FGT/Enron@ENRON, Theresa
Branney/ET&S/Enron@Enron, Martha Benner/ET&S/Enron, Eric
Benson/NA/Enron@ENRON, Donna Bily/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Lynn
Blair/ET&S/Enron@ENRON, Jack Boatman/FGT/Enron@ENRON, Rob
Bradley/Corp/Enron@ENRON, Bob Chandler/ET&S/Enron@ENRON, Bill
Cordes/NPNG/Enron@ENRON, Shelley Corman/ET&S/Enron@ENRON, Christi
Culwell/FGT/Enron@ENRON, Mary Darveaux/ET&S/Enron@ENRON, Rick
Dietz/ET&S/Enron@ENRON, Dari Dornan/ET&S/Enron@ENRON, John
Dushinske/ET&S/Enron@ENRON, Sharon Farrell/FGT/Enron@ENRON, Drew
Fossum/ET&S/Enron@ENRON, John Goodpasture/OTS/Enron@ENRON, Mary
Hain/HOU/ECT@ECT, Steven Harris/ET&S/Enron@ENRON, Joe
Hartsoe/Corp/Enron@ENRON, Glen Hass/ET&S/Enron@ENRON, Robert
Hayes/FGT/Enron@ENRON, Rod Hayslett/FGT/Enron@ENRON, Bambi
Heckerman/NPNG/Enron@ENRON, Theresa Hess/ET&S/Enron, Robert
Hill/NPNG/Enron@ENRON, Staci Holtzman/FGT/Enron@ENRON, Tamara
Hopkins/ET&S/Enron@ENRON, Stanley Horton/Corp/Enron@Enron, Steve
Hotte/Corp/Enron@ENRON, Lee Huber/ET&S/Enron@ENRON, Martha
Janousek/ET&S/Enron@ENRON, Steven January/ET&S/Enron@ENRON, Beth
Jensen/NPNG/Enron@ENRON, Anne Jolibois/FGT/Enron@ENRON, Steven J
Kean/NA/Enron@Enron, Jeffrey Keeler/Corp/Enron@ENRON, Robert
Kilmer/FGT/Enron@ENRON, Frazier King/FGT/Enron@ENRON, Steve
Kirk/ET&S/Enron@ENRON, Tim Kissner/ET&S/Enron@ENRON, Laura
Lantefield/ET&S/Enron@ENRON, Linda L Lawrence/NA/Enron@Enron, Blair
Lichtenwalter/FGT/Enron@ENRON, Elizabeth Linnell/NA/Enron@Enron, Teb
Lokey/FGT/Enron@ENRON, Phil Lowry/OTS/Enron@ENRON, Susan J
Mara/NA/Enron@ENRON, Donna Martens/ET&S/Enron@ENRON, Dorothy
McCoppin/FGT/Enron@ENRON, Mike McGowan/ET&S/Enron@ENRON, Rockford
Meyer/FGT/Enron@ENRON, Mary Kay Miller/ET&S/Enron@ENRON, Michael
Moran/ET&S/Enron@ENRON, Sheila Nacey/ET&S/Enron@ENRON, Michel
Nelson/ET&S/Enron@ENRON, Ray Neppl/NPNG/Enron@ENRON, Robert
Neustaedter/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Christi L
Nicolay/HOU/ECT@ECT, Sarah Novosel/Corp/Enron@ENRON, Ranelle
Paladino/ET&S/Enron@Enron, Zelda Paschal/FGT/Enron@ENRON, Geneva
Patterson/NPNG/Enron@ENRON, Maria Pavlou/ET&S/Enron, Eileen
Peebles/ET&S/Enron@ENRON, Keith Petersen/ET&S/Enron@ENRON, Peggy
Phillips/FGT/Enron@ENRON, Janet Place/NPNG/Enron@ENRON, Tony
Pryor/ET&S/Enron@ENRON, Colleen Raker/ET&S/Enron@ENRON, Kathy
Ringblom/ET&S/Enron@Enron, Cynthia Sandherr/Corp/Enron@ENRON, James
Saunders/FGT/Enron@ENRON, Dave Schafer/NA/Enron@ENRON, Donna
Scott/FGT/Enron@ENRON, Susan Scott/ET&S/Enron@ENRON, Richard
Shapiro/NA/Enron@Enron, Mike G Smith/NA/Enron@Enron, Louis
Soldano/ET&S/Enron@ENRON, Lon Stanton/ET&S/Enron@ENRON, James D
Steffes/NA/Enron@Enron, James Studebaker/FGT/Enron@ENRON, Jim
Talcott/ET&S/Enron, Gina Taylor/OTS/Enron@Enron, Debbie
Thompson/FGT/Enron@ENRON, Denis Tu/FGT/Enron@ENRON, Michael Van
Norden/Corp/Enron@ENRON, Stephen Veatch/FGT/Enron@ENRON, Donald
Vignaroli/ET&S/Enron@ENRON, Jody Warner/NPNG/Enron@ENRON, Kimberly
Watson/ET&S/Enron@ENRON, Julia White/ET&S/Enron@ENRON, Kim
Wilkie/ET&S/Enron@ENRON, Jane Wilson/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Michele Winckowski/ET&S/Enron@ENRON
cc:
Subject: Chairman Hoecker Tenders Resignation Effective Jan. 18

At the FERC Commission meeting this morning, Chairman Hoecker announced his
resignation from the Commission effective January 18.

Other Items at the Meeting:
Hoecker summarized the meetings that occurred last night with Cal. Gov.
Davis, Energy Sec. Richardson, Clinton Administration officials and industry
representatives.  He said that the parties had produced a statement of
principles on resolving the Calif. issues.  Specifically, he mentioned that
the principles include a discussion of the regional nature of the market.
Order on GridFlorida.   When GridFlorida made its RTO filing, they asked the
Commission for an expedited order providing guidance on certain independence
and governance matters.  This order provides guidance on:
The process for selecting the RTO board
The process for selecting a CEO and directors
Rules for financial holdings by RTO board members.
Items Struck form Agenda:  The Commission did not act on Illinois Power's
requests to leave the Midwest ISO or the Alliance second RTO  filing.
Commissioner Massey criticized the Commission for being slow to act on these
items.  He said that at the heart of both of these filings is the issue of
scope/configuration of RTOs.   He shared his belief that the Midwest must be
treated on a regional basis.
El Paso v. CPUC complaint.  This proceeding involves CPUC's complaint that
affiliate El Paso Merchant is improperly hoarding El Paso Natural Gas
capacity to California.   The Commission did not discuss the draft order.
However, Hebert noted that he had dissented from the order.


Ben - absolutely, please volunteer via the link provided in my original
memo.  Thanks Shelly

Benjamin Rogers
10/11/2000 05:25 PM
To: Shelly Jones/HOU/ECT@ECT
cc:
Subject: Super Saturdays

Shelly:
I received your e-mail regarding this years Super Saturday's.  I am currently
an Associate, but as an Analyst I participated in a couple of Super
Saturday's, but haven't done any in a little while, so I wanted to offer up
my services.  Please let me know if there is anything I can do, because I'll
be more than happy to help out again.  Thanks!
Ben


I am taking a vote on if we need to redraw the draft order.  Some, have said
that it is not fair for Steve to be handed the 6th slot.  Let me know what
you think.

-Eric


Norma:

Here is the "job description" that Vince asked me to provide.

Let me know if you need anything else.

Shirley

---------------------- Forwarded by Shirley Crenshaw/HOU/ECT on 08/07/2000
01:24 PM ---------------------------

Vince J Kaminski
08/07/2000 08:29 AM
To: Sheila Walton/HOU/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT, Shirley Crenshaw/HOU/ECT@ECT, Norma
Villarreal/HOU/ECT@ECT
Subject: Re: Anita DuPont Resume

Sheila,

No, we have to go through the posting phase first.
I shall ask Shirley to provide the job description.

Vince

	From:  Sheila Walton                           08/04/2000 02:44 PM

To: Vince J Kaminski/HOU/ECT@ECT
cc: Norma Villarreal/HOU/ECT@ECT
Subject: Re: Anita DuPont Resume

Vince, Alice has strong qualities for a Sr Admin Asst.  Vince, have we posted
this position on the job posting board?  If so, great.  If not, we need to
post this opening to prove that we have given an opportunity to all existing
Enron employees before we go outside to external candidates.  Otherwise,
existing employees have a valid complaint that we are limiting their
advancement within Enron but hiring externally.   If we have not posted this,
I will have the recruiter contact Shirley so Shirley can give us a job
description.  Then we can post and interview Anita simultaneously.  Please
let me know ASAP if this has been posted.  Thanks.

Sheila Walton

Vince J Kaminski
08/02/2000 08:48 AM
To: Sheila Walton/HOU/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT
Subject: Anita DuPont Resume

Sheila,

I would like to hire Anita DuPont as a senior admin assistant, reporting
to Shirley.

Please, call me about it after you review the resume.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 08/02/2000
08:52 AM ---------------------------

Anita DuPont@ENRON
08/02/2000 08:17 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc: Shirley Crenshaw/HOU/ECT@ECT
Subject: Anita DuPont Resume

Vince:

Here is the resume you requested.  Thanks.   Anita


Grant at El Passo  Electric said that the DC to AC converter on the Eddie County DC tie is unreliable.  Any time this summer when temperatures approach 100 we are going to have problems.  Be sure to check what the by-back schedules should be.  ....be aware

Linder


Jeff, I want to change the bio in certain respects. Please do not print it until I submit the proposed changes. Thank you.

 -----Original Message-----
From: 	Jeff A Sokoloff <jeffsok@juno.com>@ENRON [mailto:IMCEANOTES-Jeff+20A+20Sokoloff+20+3Cjeffsok+40juno+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Friday, April 06, 2001 1:04 PM
To:	James_Derrick@enron.com; cpatman@bracepatt.com
Cc:	grosenbaum@velaw.com; mcominsky@aol.com
Subject:	Jurisprudence Program

The printing deadline for the program is Monday, April 16.

Do you wish to "rework" the bio that was printed in the invitation, or
would you like us to print the bio (in the program) as is?
________________________________________________________________
GET INTERNET ACCESS FROM JUNO!
Juno offers FREE or PREMIUM Internet access for less!
Join Juno today!  For your FREE software, visit:
http://dl.www.juno.com/get/tagj.


????HOUSTON--(BUSINESS WIRE)--April 9, 2001--EC Outlook, a software provider
that automates the collaborative commerce activities of Global 1000 companies
and their trading partners, has signed a licensing agreement with Enron
Corp., one of the world's leading electricity, natural gas and communications
companies, providing both companies with technology to enhance their
commodity-related businesses.
????Enron is planning to use EC Outlook's Smart Document Interchange (SDI)
Server(TM) software to streamline the exchange of certain documents with
trading partners in commodity markets outside of its traditional energy and
communications industries. Such industries include metals, pulp and paper and
others. The SDI Server product helps companies and their partners share
information without invasive hardware and software installations.
????EC Outlook, in turn, will enhance its software offering with proprietary
data interchange applications developed by Enron to manage complex logistical
activities in natural gas and electricity markets. EC Outlook will integrate
industry-specific functionalities and processes from this software into its
own applications to deliver enhanced capabilities to customers.
????"Enron's data interchange technology is a strategic acquisition for us,"
said Matt Verghese, president and COO of EC Outlook. "Coupled with our
existing applications, we can very effectively support the
transaction-intensive needs of energy and other commodity businesses."
????"Commodity markets, like natural gas, electricity and others, will
significantly benefit from electronically automating commerce activities
among trading partners," said Greg Runyan, senior analyst with Yankee Group.
"The agreement between EC Outlook and Enron is a perfect example of how
market leaders can gain a competitive edge."

????About EC Outlook

????EC Outlook's software applications automate collaborative commerce
activities between Global 1000 companies and their trading partners. Powered
by SDI Server(TM) software, these applications enable customers and partners
to quickly connect with one another to share information, regardless of size,
technical sophistication or existing infrastructure. By overcoming
connectivity and data disparity issues, customers have achieved increased
revenues, working capital reductions and short-term payback on their
investment. For more information, visit www.ecoutlook.com.


I have lunch plans tomorrow (and I'm not sorry)...just kidding.  But I do
have plans.  I could probably do Friday though.  Let me know if you can fit
me into your busy schedule.

Robin

Joanne Smith@ENRON
01/31/2001 11:08 AM
To: Robin Rodrigue/HOU/ECT@ECT
cc:
Subject: Re: Remember Me?

I didn't think you could forget me!  I actually do have lunch plans already
(SORRY), but maybe tomorrow or Friday we could go.  I have been in Houston
since the first of the year.  Shannon (my husband) and I bought a new house
in Katy.  It's a long drive, but we really like it there.  Got to go....

Talk to you later,
JoAnne


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


Jeff,

Deal QN2026.1 (EOL 803898) was booked on 01/24/2001 -  Enron Buys 15000/d
Feb. 01 at 6.90.  Deal QN2004.1 is a duplicate of this deal.  Deal QN5772.1
was booked on 01/25/2001 - Enron Sells 15000/d Feb. 01 at 7.115.  The booking
of QN5772.1 generated positive revenue of $90,300.  Annuity deal QN2026
paying Hess $45,143 was booked tonight.

Thanks,

Errol


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This looks like and ISDA comparison to me.  I'm not sure who is next on the
list......
----- Forwarded by Mark Taylor/HOU/ECT on 06/16/2000 06:53 PM -----

	John Grass@ENRON
	06/15/2000 03:04 PM

		 To: Mark Taylor/HOU/ECT@ECT, Veronica Espinoza/Corp/Enron@ENRON
		 cc:
		 Subject: ISDA

Mark and Veronica,

Please review the following documents.

The contact person listed in the intro. letter is Janet Owens, Corporate Risk
Manager, 412/395-2618 and my contact is Greg Davis, VP  of Trading Equitable
Energy LLC 412/395-2626.

I will be out of the office until June 26, 2000 but will be checking my voice
mail @37302.  Let me know what you think.

---------------------- Forwarded by John Grass/Corp/Enron on 06/15/2000 02:51
PM ---------------------------

jowens@eqt.com on 06/15/2000 02:19:57 PM
To: jgrass@enron.com
cc:

Subject: ISDA

 <<ISDA_Sect29_Letter.doc>>  <<ISDA_Standard.doc>>
<<ISDA_SchA_Sect29r.doc>>

 - ISDA_Sect29_Letter.doc
 - ISDA_Standard.doc
 - ISDA_SchA_Sect29r.doc


As discussed, please see the attached Master Firm Purchase/Sale Agreement
draft for your review.

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


Dan, please prepare a list of items you think I should sign off on and then
set up a meeting where we can review that list with the whole team.     Mark
----- Forwarded by Mark E Haedicke/HOU/ECT on 09/25/2000 02:29 PM -----

	David W Delainey
	09/22/2000 06:32 PM

		 To: Janet R Dietrich/HOU/ECT@ECT, Ozzie Pagan/HOU/ECT@ECT, Heather
Kroll/HOU/ECT@ECT, Charles Vetters/HOU/ECT@ECT, Jeffery Ader/HOU/ECT@ECT
		 cc: Cliff Baxter/HOU/ECT@ECT, Mark E Haedicke/HOU/ECT@ECT, Jeff
Donahue/HOU/ECT@ECT, Greg Whalley/HOU/ECT@ECT, Steven J Kean/NA/Enron@Enron
		 Subject: FCEL

Guys, I have spoken to Cliff and Mark and we are comfortable moving forward
under the structure we have discussed.

 FCEL: - $5MM in equity and 1.3MM warrants from corporate treasury stock that
vest based upon 60MW of orders;
  - discussion with FCEL in which we disclose ALL infromation we have about
the potential Conn. deal - I will require that myself and Mark be on   that
call;
  - the transaction is fully press released immediately.

 CRRA: - subject to final due diligence on the development risks, we provide
the management and wrap for CRRA on the potential fuel cell development
opportunity that consists of between 25 and 50 MW;
  - any appropriation of funds from the government will require DPUC hearing
at which we will fully disclose in a factual manner our interest in    FCEL.

I will require that Mark Haedicke manage this process and sign off on all
press releases, term sheets, disclosure discussions, contracts and regulatory
filings.  I believe that we have this managed appropriately as long as we
manage the process as per the script and in a factual manner.

Thanks
Delainey


Why do we have so many deals from Coral that need to be assigned?

	Kevin Meredith@ENRON
	11/06/2000 10:58 AM

		 To: Tana Jones/HOU/ECT@ECT
		 cc: Larry Joe Hunter/HOU/ECT@ECT
		 Subject: Coral deals

Tana,

Coral Energy Resources has six more deals from Thursday 11/02/00 that need to
be assigned to Coral Energy Holdings.  The deal numbers are as follows:

Q74176.1
Q74562.1
Q74565.1
Q74569.1
Q75591.1
Q75597.1

These deals will have a status of "Pending - Sent to Legal" until I hear back
from you.

Thank you.
Kevin


EPSA needs feedback on Cal and Alliance filings and what position EPSA can
take.  Thoughts?
---------------------- Forwarded by Christi L Nicolay/HOU/ECT on 09/20/2000
03:32 PM ---------------------------

"Jackie Gallagher" <JGallagher@epsa.org> on 09/20/2000 03:07:06 PM
To: <bhawkin@enron.com>, <bmerola@enron.com>, <christi.l.nicolay@enron.com>,
<janelle.scheuer@enron.com>, <jhartso@enron.com>, <mary.hain@enron.com>,
<sarah.novosel@enron.com>, <tom.hoatson@enron.com>
cc:

Subject: Cal ISO Amendment 30 & Alliance RTO Filing

MEMORANDUM

TO: Regulatory Affairs Committee
       Power Marketers Working Group

FROM: Don Santa, Regulatory Affairs Committee Chair
            Joe Hartsoe, Power Marketing Working Group Chair
            Julie Simon, Vice President of Policy
            Mark Bennett, Senior Manager of Policy

DATE: September 20, 2000

RE:  ? Cal ISO Amendment 30
       ? Alliance RTO Filing

Two issues arose on the weekly conference call today on which we need your
assistance and feedback.  Please forward comments to Julie Simon at
202-789-7200 or jsimon@epsa.org by close of business on Monday, September
25th.

1. Cal ISO Amendment 30

On September 11, 2000 the Cal ISO filed Amendment No. 30 to its ISO Tariff at
FERC.  In this filing, the Cal ISO is "reluctantly" asking FERC for authority
to buy forward contracts to meet its real-time balancing obligations.  Costs
of the forward contracts would be allocated to Scheduling Coordinators who
deviate in real time from their schedules.  Interventions and protests are
due on October 2nd.

While EPSA has consistently opposed an ISO role as market participant, there
are concerns here about the lack of alternatives available in California.
While an ISO's role in the real-time balancing market should be small, as a
practical matter, the Cal ISO has been forced to procure thousands of
megawatts in the real time markets.  Thus, deciding how to approach this
filing balances difficult competing goals.  Please let us know how you would
like EPSA to proceed.

2. Alliance RTO

On September 15th the Alliance RTO made a compliance filing at FERC seeking
to address all of FERC's concerns about its earlier proposals and purporting
to meet all the requirements of Order No. 2000.  The filing retains a transco
structure, with a 5 percent ownership limitation for individual market
participants and a 15 percent ownership limitation on each class of market
participants.  It also eliminates pancaked rates in favor of zonal, or
license plate, rates for deliveries within the Alliance and postage-rates for
through or out deliveries.  While the geographic scope is unchanged, the
scope will be larger than any operating RTO.  The filing includes a pro-forma
inter-RTO coordination agreement to address seams issues such as security
coordination, market monitoring, regional planning ATC and TTC calculations
and pricing reciprocity.

Until now, EPSA has not been a party to the Alliance proceeding.  With this
latest filing it may be appropriate for EPSA to intervene, raising issues of
support or opposition to the filing.  To determine how to proceed, however,
we need input from those companies that have been more closely involved in
the development of the Alliance.  Please let us know how EPSA should proceed
with respect to this latest filing.

Jacqueline Gallagher
Research/Policy Assistant
Electric Power Supply Association
1401 H Street, NW
Suite 760
Washington, DC  20005
202.789.7200
202.789.7201
jgallagher@epsa.org


---------------------- Forwarded by Sara Shackleton/HOU/ECT on 03/16/2001
04:55 PM ---------------------------

TeiglandL@sullcrom.com on 03/16/2001 04:48:12 PM
To: Sshackl@enron.com
cc: GilbergD@sullcrom.com
Subject: Revised guarantee

I added a sentence at the end of Section 1(a) which addresses Abrams' issue
of having 48 hours to pay as he and I discussed.  I checked w/ AYE and they
are happy to agree to accept this compromise.

 <<Exhibit A(vRED).DOC>>

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

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.

 - Exhibit A(vRED).DOC


Pat,

Hello!  I am sending to you a memo from Stuart Zisman here at Enron.  He has
a question that I am forwarding to you, since I don't know the answer.  Would
you please give him an answer today, if possible?

Thanks a lot!

Michelle
---------------------- Forwarded by Michelle Cash/HOU/ECT on 10/30/2000 01:46
PM ---------------------------

"Stuart Zisman" <zisman@hotmail.com> on 10/30/2000 12:21:31 AM
To: hhaltom@andrews-kurth.com, michelle.cash@enron.com,
matt.gockerman@enron.com, rhett.jackson@enron.com, patrick.maloy@enron.com,
pbohannon@andrews-kurth.com
cc:
Subject: stuart.zisman@enron.com, jinsung.myung@enron.com

Attached is a memo relating to the E2 transaction.  Please review the memo
and respond as soon as possible.  We need to receive all feedback promptly
as we expect to revise and post the revised Purchase & Sale Agreement by the
end of business today (Monday).  Thanks in advance.

Stuart

Jinsung, please forward this to Don Miller ASAP.

_________________________________________________________________________
Get Your Private, Free E-mail from MSN Hotmail at http://www.hotmail.com.

Share information about yourself, create your own public profile at
http://profiles.msn.com.

 - GENERAL COMMENTS TO REVISED PSA FOR E2.doc


Platts Energy Bulletin

Welcome to Platts Energy Bulletin, a showcase of the top headlines posted on
platts.com (http://www.platts.com) over the past 24 hours. To view this file in
html, open the attachment at the bottom of this email.

For Platts Premium customers go to www.einsight.com (http://www.einsight.com) to
pick up your Platts Energy Insight subscription. Your password and login remain
the same.

If you no longer wish to receive this email, instructions for unsubscribing can
be found at the bottom of each issue. We welcome your feedback - send comments
to feedback@platts.com

Feb 4, 2002

What's New on platts.com?
Why did Enron Crash? A closer look at the Enron debacle.
(http://www.platts.com/features/enron/crash.shtml)

Water Industry 2002: A look at the main issues facing the water industry.
(http://www.platts.com/features/water/index.shtml)

Upcoming Events
Grid Business - The Midwest Region: An Electrical World Roundtable in
cooperation with R. J. Rudden Associates and the United States Energy
Association. March 21-22, 2002 St. Louis, Missouri.
(http://www.platts.com/gridbusiness/index.html)

Futures Round-up
NYMEX: Crude to open lower, lack of fresh bullish news
NYMEX March crude oil is called to open 14 cts lower at $20.24/bbl. March Brent
is called to open 11 cts lower at $19.87/bbl. March heating oil is called to
open 81 pts lower at 54.50 cts/gal and March unleaded gasoline is called to open
64 pts lower at 59.70 cts/gal.

IPE Brent Focus: IPE Brent crude softer to start the week
IPE Brent futures dropped lower in open outcry trading Monday, giving up gains
made in Friday's positive performance. Front-month March futures traded at
$19.69/bbl at 1133 GMT, down 29 cts from Friday's settlement and 9 cts shy of
the session's low of $19.60/bbl, while April had shed 28 cts by the same time.

News Round-up
Click on the headlines below or paste the URLs provided in your internet browser
to see the full story.

ENERGY INSIGHT :
Energy industry falls victim to Argentine crisis
The recent announcement of a 40%-devaluation in Argentina for foreign trade
operations and debt servicing was followed by measures that will directly impact
the country's energy industry. (http://www.einsight.com)

OIL:
Venezuela gives Cuba more time to pay crude oil debt
Venezuela has given Cuba more time to make its crude debt repayments after Cuban
state oil company, Cupet, declared force majeure on payments for Venezuelan
shipments made last year, Venezuelan deputy energy minister Bernardo Alvarez
said Monday. (http://www.platts.com/archives.shtml#58525)

NATURAL GAS:
Iran seeks gas partner in Europe: Iran oil minister
Iran is seeking to establish a partnership with a European gas company as part
of its plan to market Iranian gas in Europe, Iranian oil minister Bijan Zanganeh
said Feb 2. (http://www.platts.com/archives.shtml#58521)

PETROCHEMICALS:
Asian naphtha cracker operators consider using LPG feed
Asian olefin producers are considering using a combination of naphtha and LPG
feedstocks to take advanatge of a favorable price spread between the two
products, industry sources said Monday.
(http://www.platts.com/archives.shtml#58510)

ADVERTISEMENT:
Platts Global Energy Jobs Board and Resume Bank: Created in partnership with the
Energy Jobs Network, the Jobs Board gives you access to a pool of job seekers
and open positions across the energy industry. It's free for all job seekers,
and there is a range of packages for employers posting jobs.
(http://www.energyjobsnetwork.com/home.asp?code=platts)

ELECTRIC POWER:
Enron Europe creditors meeting set for Feb 15
Enron Europe's administrator PricewaterhouseCoopers has set a date of Feb 15 for
the initial meeting of creditors of the European subsidiary of the failed US
energy marketer, according to a letter seen by Platts Monday.
(http://www.platts.com/archives.shtml#58517)

NUCLEAR:
US plants set record generation in 2001
The average US nuclear plant capacity factor was about 91% in 2001, an all-time
high and the fourth straight year of performance improvements, the Nuclear
Energy Institute (NEI) said Feb 1. (http://www.platts.com/archives.shtml#58480)

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The Suits Tell the Tale
Cato's Regulation, 07/27/01
Wholesale-Energy Units Lifted Profit at Reliant, Peoples Energy
Dow Jones Business News, 07/27/01
Enron Wants India to Buy Dabhol, Still Eyeing Options (Update2)
Bloomberg, 07/27/01

Godbole panel-DPC meet makes little progress
Business Standard, 07/28/01

INDIA: Enron's Dabhol rejects Indian offer on tariffs.
Reuters English News Service, 07/27/01
Unamerican Activity? California Power Probe Gets Rough
Dow Jones Energy Service, 07/27/01

India Dabhol Pwr Rejects States' Price Proposals -Report
Dow Jones Asian Equities Report, 07/27/01

Venture capital chasing next big - and little - thing in energy
Associated Press Newswires, 07/27/01

USA: Brazil moves to head off energy crunch, recession.
Reuters English News Service, 07/27/01

Talking Stocks
CNNfn: The Money Gang, 07/27/01

Buenos Aires Invents `Patacon' Currency to Pay Bills (Update1)
Bloomberg, 07/27/01

The Suits Tell the Tale
Gov. Davis deceived Californians about the energy crisis.
By Jerry Taylor & Peter VanDoren. Jerry Taylor is director of
natural-resources studies at the Cato Institute <http://>. Peter VanDoren is
editor of Cato,s Regulation.
July 27, 2001 8:25 a.m.
or at least nine months now, California Gov. Gray Davis has been screaming
bloody murder about how corporate power pirates out of Houston have
economically raped and pillaged the state of California, creating an
artificial electricity crisis out of thin deregulated air. The story didn't
appear to add up. But because the governor's office refused to release
information about how much the state paid to whom for electricity over the
past several months, who was to say?
Lawsuits finally pried that information out of Davis last week and * lo and
behold! * "the biggest snakes on the planet" (Davis's words) were charging
less than the publicly owned utilities of California itself and even less
than the price charged by his right-hand man, David Freeman, head of the L.A.
Department of Water & Power. And Davis turns out to have known it all along.
Until Davis coughed-up the data, the Left was in hog heaven, scoring point
after point about how socialism * at least in the electricity business * was
far preferable to capitalism. Alan Richardson, president of the American
Public Power Association, recently told an audience that, "California is a
great example of municipal utilities that have ( taken care of their
customers while investor-owned utilities have taken care of their
shareholders ( Every customer of a private utility is seen as a profit
center. With public power, every customer is seen as our owner and neighbor."
Anti-utility activist Harvey Wasserman wrote in The Nation that, "dereg
apologists are having a hard time explaining why two California power
companies were immune to the crisis: the Los Angeles Department of Water &
Power and the Sacramento Municipal Utility District. Both are owned by the
public ( during the crisis, rates charged by both companies have been stable."
It turns out, however, that publicly owned utilities charged the state an
average of $344 for a megawatt of electricity during the first three months
of the year. Private companies were meanwhile charging less than an average
of $250 per megawatt. And those Houston-based "snakes" * Reliant, Dynergy,
and Enron * were charging less than the publicly owned utilities, less than
the sainted and celebrated L.A. Department of Water & Power ($292 per
megawatt), less than the Sacramento Municipal Utility District ($330 per
megawatt), less than other investor-owned California-based power marketers,
and less than the overall market average. Other more ambitious sellers
include those municipal "good neighbors" at Seattle's City Light Department
($634 per megawatt), BC Hydro ($498), and virtually every other socialist
power entity that bellied up to the California wholesale power market.
But that's not to say that the municipals did anything wrong. They had an
obligation to local taxpayers to maximize their revenues. Moreover, it turns
out that the markups weren't all that great. The cost of producing
electricity at the margin was so high because of the run-up of natural gas
costs; most of the asking price reflected the cost of spinning electrons back
at the plant. "It's insulting to ask for any money back. We weren't part of
the problem, and we helped the state in a crisis," Peter Fletcher of the
Sacramento Municipal Utility District told theSan Francisco Chronicle. "And
it's not like we're doing well."
Another interesting revelation is how inept California state agents were when
they tried to run a power system previously managed satisfactorily by the
utilities. The state "called us and said, 'we're looking for power at $500 a
megawatt hour for a seven-hour period,'" Kate Hora of the Modesto Irrigation
District told the Chronicle. "There was no negotiation. We just helped them
out at the price they named." These are the business wizards that Davis wants
to take over the whole system?
It should go without saying that this doesn't help the governor's
price-gouging argument. The story Hora tells of how the state behaved with
her utility is consistent with the stories related by the private marketers.
The state asks for power and names a price. The company agrees. And several
weeks later, Davis & Co. scream about "the gougers." The story Fletcher tells
* of prices mostly reflecting costs * likewise belies Davis's contention that
greed explains all. If Sacramento's municipal utility found it hard to make
any money even with sales of emergency power at $330 a megawatt, what makes
anyone think it was easier for Enron et al.?
The Left's entire California story, it turns out, was built upon a
breathtaking series of gubernatorial falsehoods and demagoguery. If Davis and
his duplicitous henchman, David Freeman, have an ounce of credibility left,
it's only because the nation is too riveted on the Chandra Levy matter to pay
any attention to the bomb that went off in Sacramento last week.

Wholesale-Energy Units Lifted Profit at Reliant, Peoples Energy

07/27/2001
Dow Jones Business News
(Copyright (c) 2001, Dow Jones & Company, Inc.)

Power companies Reliant Energy Inc. and Peoples Energy Corp. on Friday
reported higher quarterly profits and strong revenue, easily topping Wall
Street forecasts.
The two utilities in their reports attributed the strong performance to
increased profitability at their wholesale-energy units. But both Reliant
Energy and Peoples Energy said uncharacteristically warm weather during the
period and weaker-than-expected natural-gas operations cut into profit.
Houston-based Reliant Energy (REI) said net income rose 22% to $273.7
million, or 93 cents a diluted share, compared with $223.9 million, or 78
cents a share, a year earlier.
Excluding nonrecurring items, the company earned $247 million, or 84 cents a
share, up from $236 million a year earlier. The results exceeded analysts'
expectations of 77 cents a share, according to Thomson Financial/First Call.
The adjusted results excluded several extraordinary items, including the
effects from an accounting change, gains from early retirement of debt,
losses from the disposal of discontinued operations in Latin America, and a
noncash charge related to the spinoff of 20% of Reliant Resources Inc.
Revenue at the utilities holding company more than doubled to $11.97 billion,
compared with $5.76 billion a year earlier.
Earnings at Reliant Energy's electric operations came to $342 million, up
from $325 million, mostly due to lower expenses. The increase was partially
offset by increased taxes and lower revenue due to milder weather and lower
rates. The company's wholesale-energy unit posted a strong quarter, with
earnings rising to $205 million from $173 million on higher volumes and
margins from its trading and marketing activities.
Reliant Energy also took small hit from the ongoing energy crisis in the
Western U.S., where it operates primarily through Reliant Resources. Reliant
Energy, an electricity generator, said at the end of the quarter it was owed
$318 million from wholesale-energy buyers in California. The company also
said its reserves had a net negative effect of $12 million due related to
refunds ordered by the Federal Energy Regulatory Commission.
Reliant Energy struggled with natural-gas distribution and its European
operations. Its natural-gas segment's loss widened to $49 million from $12
million a year earlier due to increased expenses for bad debt and changes in
estimates of nonbilled revenue, the company said. Results from European
energy operations fell to $9 million, compared with $24 million, because of
lower margins from increasing competition in the Netherlands.
Reliant Energy reiterated its expectations for 2001 growth of 10% to 12%,
putting earnings at between $3.23 to $3.29 a share. Analysts expect earnings
of about $3.29 a share. Last week, Reliant Resources reported a 57% increase
in earnings but said it would be difficult to sustain that level of
profitability as energy companies deal with new price caps in the West.
Investment Gains Lift Peoples Energy
Peoples Energy (PGL) reported fiscal third-quarter profit rose 6.6%, topping
expectations, on a large jump in investment income and strong growth in its
diversified-energy businesses.
Net income for the quarter ended June 30 came to $11.6 million, or 33 cents a
share, compared with $10.9 million, or 31 cents a share, a year earlier. A
consensus of analysts expected Peoples Energy to post earnings of 28 cents a
share, according to First Call.
Revenue at the Chicago energy company jumped 22% to $318.5 million from
$261.2 million in the same quarter of 2000.
Looking ahead, Peoples Energy still expects to report full-year earnings of
between $3.15 and $3.25 a share, and the company expects its strong
diversified segments to account for about 20% of the total. Analysts surveyed
by First Call expect the company to earn $3.19 in 2001.
Peoples Energy said results reflected continued growth in its
diversified-energy businesses, but that profit was offset by increased costs,
short-term debt and an investment write-off. Still, the company received a
big lift from equity-investment income, which more than tripled due in part
to a joint venture with Enron Corp.
The company said the largest contributions came from its midstream services,
which include pipelines, and its oil-and-gas production businesses. Peoples
Energy said midstream results benefited from a solid performance at Enovate,
the venture with Enron, while oil-and-gas earnings were buoyed from
operations recently acquired in southern Texas.
Operating income at its midstream-services segment grew more than fourfold to
$5.1 million from $1.1 million a year earlier. The strong quarter primarily
was the result of equity-investment income from Enovate, as well as other
wholesale activities.
In the oil-and-gas segment, operating income for the current quarter more
than doubled to $8 million, up from $3.4 million. The gains primarily were
due to the impact of reserve acquisitions, including the recent pickup of
working interests in South Texas, and positive results from several drilling
programs.
However, profit was pressured by lackluster performance at its
gas-distribution operations. Warm weather and higher gas prices ate into
profit, as did customer-account balances that were significantly higher than
a year earlier. Weather during the third quarter was 14% warmer than normal,
and 9% warmer than the same period last year.
Operating income for the segment came to $23.2 million, compared with $26
million for the second quarter. Also, retail-energy operations posted a
slight $700,000 loss, which narrowed from $900,000 a year earlier.
Copyright (c) 2001 Dow Jones & Company, Inc.
All Rights Reserved.

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

Enron Wants India to Buy Dabhol, Still Eyeing Options (Update2)
2001-07-27 16:27 (New York)

Enron Wants India to Buy Dabhol, Still Eyeing Options (Update2)

     (Adds closing share price.)

     Houston, July 27 (Bloomberg) -- Enron Corp., the world's top
energy trader, wants the Indian government to buy out its 65
percent stake in the Dabhol Power Co. project, but it's still
looking at other options, a spokesman said.
     ``We do believe the best solution to this problem would be to
have the government or some related body buy us out of the
project,'' spokesman John Ambler said. ``We're still pursuing
other remedies, in case the buyout doesn't come through on
acceptable terms.''
     Enron and the Maharashtra State Electricity Board, Dabhol's
sole customer, are in a seven-month dispute over $64 million in
unpaid bills. The board stopped buying Dabhol's power in May,
saying it's too expensive. The move came days after Dabhol
announced it was beginning a six-month notice period to end its
contract with Maharashtra. Dabhol halted production after the
board stopped buying power.
     The Financial Times reported earlier today that Enron is
interested in selling the stake, quoting Enron Chairman Ken Lay,
who was in India earlier this month. Lay told the newspaper that
partners General Electric Capital, a unit of General Electric Co.,
and closely held Bechtel Group might also want to exit the
project.
     GE Capital spokesman Ken Koprowski said the company ``would
give serious consideration to credible offers which would enable
us to realize our financial objectives for this investment.'' In
general terms, he said, GE has a ``long-term commitment to doing
business in India.''
     Indian Prime Minister Atal Bihari Vajpayee was quoted in the
Business Standard last week saying he wants to resolve the Dabhol
dispute before he visits the U.S. in September.
     Madhav Godbole, the chief negotiator on the Indian side of
the payment dispute, said earlier today that eight Indian states
would be interested in buying power from Dabhol, but not at
``anywhere close'' to the rates the utility charged under the
Maharashtra contract. Dabhol rejected the proposal as
``unrealistic.''
     Shares of Houston-based Enron fell 74 cents to $46.10.

Godbole panel-DPC meet makes little progress
Our Corporate Bureau Mumbai

07/28/2001
Business Standard
2
Copyright (c) Business Standard

The meeting between the Madhav Godbole-headed committee and the Enron
-promoted Dabhol Power Company (DPC) made little headway today. "DPC just
stopped short of saying that they would walk out of the project," said a
source who attended the meeting. The immediate provocation for this was the
price at which various state electricity boards were prepared to buy power
from DPC.
On Thursday, the Godbole panel had met the representatives of four state
electricity boards. The states are Karnataka, Delhi, Madhya Pradesh and
Punjab. They offered to buy power from DPC at Rs 1.65 to Rs 2.60 per unit.
"The Godbole panel communicated this offer to the DPC representatives who
found it unacceptable," sources said.

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

INDIA: Enron's Dabhol rejects Indian offer on tariffs.
By Sriram Ramakrishnan

07/27/2001
Reuters English News Service
(C) Reuters Limited 2001.

BOMBAY, July 27 (Reuters) - U.S. energy giant Enron Corp's Indian unit, which
is locked in a bitter battle with a local utility, on Friday rejected offers
from other utilities to buy power if it lowered its tariff.
Dabhol Power Company (DPC), which is 65 percent owned by the Houston-based
Enron, said the new proposals put forward by four Indian states were
"unrealistic and unattainable".
DPC had signed a contract to supply power to a state-owned utility, the
Maharashtra State Electricity Board, from its gas-based plant on the state's
west coast.
But the future of the $2.9 billion project, the largest single direct
investment in the country, turned uncertain after the utility defaulted on
payments and stopped buying power, which it says is too expensive. Enron says
the Board is going back on its contractual commitments.
Several alternatives have been suggested to end the dispute. The latest one
was suggested at a meeting on Thursday.
Four other Indian states said they would buy power from Dabhol if it sold the
electricity at between 1.65-2.25 rupees per unit, instead of the 7.0 rupees
charged at some levels of utilisation.
"These are totally unrealistic proposals, unattainable by new-generation
liquid plants, including those set up by the public sector," a Dabhol
spokesman told Reuters.
"Talks with DPC have reached a stalemate, similar to a chicken-and-egg
situation, wherein interested states had quoted lower prices than the U.S.
energy major's expectation," M. Godbole, the chairman of a committee set up
to resolve the dispute, told the Press Trust of India.
TARIFF, STUMBLING BLOCK
One of the main problems is the state's ability to buy all the power DPC can
supply. The contract has been structured in such a way that the utility pays
more per unit of power the less it uses.
DPC's power plant is being built in two phases. The first phase of 740 MW is
up and running and the second phase of 1,444 MW is 97 percent complete.
Since the MSEB has said it cannot buy power, one alternative is to sell the
power to other states.
Though the four states of Madhya Pradesh, Rajasthan, Karnataka and Delhi had
indicated interest, they also stipulated they would not be able to buy the
entire output of 1,444 MW. "The states have made it clear there was certainly
a demand for DPC power, but only at a particular price. The higher the price,
the lower the demand," Godbole told the PTI.
TEST CASE
Some analysts say India's attempts to resolve the Enron dispute is a test
case of its ability to attract more foreign investment.
The power project is India's largest foreign direct investment.
Last week U.S. assistant secretary of state on South Asian affairs, Christina
Rocca, said the problems surrounding India's investment climate could be
summed up in a five-letter word, "Enron".
"I have to emphasise that it will be difficult for international investors to
view India favourably until it (Enron issue) is resolved and in a reasonable
manner," she told a meeting in New Delhi.
The dispute was triggered off last year when MSEB defaulted on payments.
This prompted Dabhol to issue a preliminary notice to cancel its contract and
sparked a similar response from the utility, the Maharashtra State
Electricity Board (MSEB).
The dispute has affected India's efforts to attract more investment in the
power sector, where analysts say more plants are needed to meet growing
demand.
Four foreign companies have already pulled out of the country, citing legal
and bureaucratic hassles.
($1=47.13 Indian rupees).

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

Unamerican Activity? California Power Probe Gets Rough
By Arden Dale
Of DOW JONES NEWSWIRES

07/27/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

NEW YORK -(Dow Jones)- Think 1929, price fixing, cement companies.
That was the scenario the last time California lawmakers used a weapon
they're now wielding against a pair of Texas energy companies as part of an
electricity market investigation.
Lawmakers are also weighing whether to take strong action against Wall Street
firm Morgan Stanley, and they are using a method to corral witnesses that is
so unusual it may never have been used by the California Legislature before.
The actions -- bringing contempt charges and deposing witnesses -- are rare
for legislatures anywhere in the U.S. They could result in large fines for
some companies, but earlier reports that corporate executives might be jailed
as a result of the investigation are probably overblown.
"I wouldn't be surprised to see this go to the California Supreme Court and
even the U.S. Supreme Court," said state Senator Joe Dunn, (D-Santa Ana),
chairman of the California Senate Select Committee to Investigate Market
Manipulation, which is conducting the investigation.
In June, the committee subpoenaed electricity trading documents and financial
records from Duke Energy Corp. (DUK), Mirant Corp. (MIR), Dynegy Inc. (DYN),
Williams Cos. (WMB), AES Corp. (AES), NRG Energy (NRG), Enron Corp. (ENE) and
Reliant Energy Inc. (REI). It was looking for evidence that the companies
knew years ago they could take unfair advantage once the state deregulated
its power markets, Dunn said.
Enron and Reliant, two big companies headquartered in Texas, have still not
complied with the subpoenas, though Mirant did soon after the committee
started a contempt proceeding against it, Dunn said.
"This is real defiance of the Legislature's power to issue subpoenas," said
Clark Kelso, a professor of law at University of the Pacific McGeorge Law
School in Sacramento. "When somebody openly defies the court's power it then
has to make a decision about how best to coerce compliance."
The committee has cited Enron and Reliant for contempt, and recommended to
the full Senate that Enron be charged fines in increments that increase daily
until it complies with the subpoenas. The company may be liable if the full
Senate upholds the finding when it returns from a recess in August.
Enron sued California this month in a federal court in an effort to stop the
state from subpoenaing its documents. The suit is still pending.
"This is clearly a witch hunt, it's scapegoating and demagoguery," said Mark
Palmer, a spokesman for Enron.
State legislatures rarely issue subpoenas, and even more infrequently find
entities in contempt, according to Brenda Erickson, a senior research analyst
at the National Conference of State Legislatures. Most of the time, "people
are willing to come in and open records and talk to a committee," she said.
Sometimes companies hesitate because of confidentiality issues, but
legislative committees can go into a closed session to address that concern,
she added.
Wall Street firm Morgan Stanley, which advises some power generating
companies, has also come under fire by Dunn for failing to give the committee
documents it used to prepare power plant prospectuses, the senator said. The
papers could provide evidence that companies knew certain plants would give
them an unfair advantage in electricity markets, according to Dunn.
"We're trying to determine what we can do about the fact that Morgan Stanley
has destroyed documents, but a contempt finding is not an option at this
point," Dunn said. That's because the committee didn't initially subpoena the
documents.
Morgan Stanley said through a spokesperson that it disposed of documents many
years before, in accordance with the firm's document retention policy. "We
assured the Senator that no documents had been disposed of since he issued
his request," the spokesperson said.
The firm has become more cooperative after a period of not communicating
clearly with the committee, Dunn said, and added that "in the past 24 hours,
we have had significant progress in resolving our dispute with Morgan
Stanley."
Enron's Palmer said Dunn's committee is putting energy companies at the mercy
of their competitors by not providing adequate confidentiality regarding
sensitive market data.
"Just give us the level of protection that any court in the U.S. would give
us," Palmer said. "We're happy to cooperate so that they can have a
fact-finding mission instead of a witch-hunt."
Enron also objects to the fact that some entities, including the Los Angeles
Department of Water and Power and energy company Calpine Corp. (CPN), aren't
part of the investigation, according to Palmer. Calpine has very lucrative
long-term power supply contracts with the state, and LADWP has charged the
state high prices for surplus power. Enron's profits from power sales to
California are only a fraction of some other companies', according to Palmer.
The California state Senate has allowed the committee to depose witnesses in
the investigation, a move never before taken by the Legislature, according to
Kelso and Dunn. The state can take testimony from several witnesses at once
behind closed doors in various locations, instead of having them present all
testimony directly to the committee, as a result.
"From our perspective in the Legislature, it is a return to the time period
when legislative investigations were pursued vigorously with the full tools
available to lawmakers," said Dunn. "In the past decades, there's been a
reluctance to move in an aggressive manner."
- By Arden Dale, Dow Jones Newswires; 201-938-2052; arden.dale@dowjones.com

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

India Dabhol Pwr Rejects States' Price Proposals -Report

07/27/2001
Dow Jones Asian Equities Report
(Copyright (c) 2001, Dow Jones & Company, Inc.)

NEW DELHI -(Dow Jones)- Dabhol Power Co., a subsidiary of the U.S. energy
major Enron Corp. (ENE) has rejected price proposals from India's four state
electricity boards that sought to buy electricity from the 1,444-megawatt
Dabhol second phase power plant, Press Trust of India said in a report
Friday.
The report said DPC had found the proposals from the states of Karnataka,
Delhi, Madhya Pradesh and Karnataka unrealistic.
"Unfortunately, these are totally unrealistic proposals, unattainable by new
generation liquid plants, including those set up by the public sector," the
report quoted DPC as saying.
As reported, Karnataka Power Transmission Corp. had proposed the purchase of
300 MW from Dabhol plant at 2.80 rupees ($1=INR47.1350) a unit, while the
Punjab State Electricity Board had offered to purchase 100-150 MW at INR2.50
a unit.
In addition, the Madhya Pradesh State Electricity Board had expressed its
interest in buying 200 MW at INR1.65 a unit, while Delhi Vidyut Board had
said it was interested in buying 200 MW at no more than INR3.00 a unit.
Enron holds a controlling 65% stake in Dabhol Power. The DPC pahse one plant
is located in the western Indian state of Maharashtra and has a capacity of
740 MW. Construction work on the 85% completed Dabhol phase II was stopped
mid-June because of financial difficulties.
-By Himendra Kumar, Dow Jones Newswires; 91-11-461-9426;
himendra.kumar@dowjones.com

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

Venture capital chasing next big - and little - thing in energy
By JUSTIN POPE
AP Business Writer

07/27/2001
Associated Press Newswires
Copyright 2001. The Associated Press. All Rights Reserved.

BOSTON (AP) - Not so long ago, investing in the energy industry meant buying
pieces of oil wells, hydroelectric dams and big, clunky utility companies.
But power deregulation broadened the possibilities, and the headlines from
the California power crisis have drawn entrepreneurs and investors into the
sector.
While traditional energy companies are attracting most of the attention,
there's growing interest in smaller companies in an emerging sector called
"energy technology:" software, microturbines, Web-based electricity trading,
and more.
The companies and venture capitalists are after the "$300 billion jump ball"
made possible by electricity deregulation, said Todd Klein, managing director
of Kinetic Ventures, a Chevy Chase, Md.-based VC firm.
Their monopolies gone, power companies are being forced to improve
productivity. Start-ups are trying to help with a new generation of high-tech
gadgets.
Meanwhile, technology companies are demanding cheaper and more reliable power
sources. Entrepreneurial talent is drifting to energy, and several
technologies developed in government labs are now commercially viable.
"We have been following these technologies 10 years, and they never were
anything more than science experiments," said Jeff Miller of Boston's Beacon
Group, which manages $1.6 billion in two energy VC funds. "Now you've got the
demand coming from the marketplace and very serious managers with very
focused business plans."
Offsetting the flurry of enthusiasm is tighter funding from the VCs.
According to research firm Venture Economics, 77 companies took in more than
$1.2 billion in funding in the sector last year, but so far this year just 17
companies have raised a total of $132 million.
David Lincoln, founder of EnerTech Capital in Wayne, Pa., told entrepreneurs
at a recent tech conference in Boston that nobody is in a hurry to make
deals, and the conditions that VCs impose now "were virtually unheard of 18
months ago."
The California power crisis has grabbed the attention of the entire
investment community - every major investment bank is now tracking a sector.
"Everybody's backing out of the dot-coms and telecoms," said Bradley Johnson,
president of Washington-based Pepco Technologies. "They're saying the next
new thing is energy, but they haven't figured it out yet."
They are chasing some minor success stories like Chatsworth, Calif.-based
Capstone Turbine Corp., which makes freestanding microturbines that allow
businesses to produce their own electricity. Company shares have traded as
high as $100, but have fallen to under $20, and the company still hasn't
turned a profit.
The next little thing is on the minds of VCs as much as the next big one.
That means technologies that don't necessarily revolutionize how electricity
is produced so much as help traditional companies produce it and customers
use it more efficiently.
"With the events which occurred in California and which are threatening to
occur in other parts of the company, people are focused on immediate
solutions to those problems," Klein said.
These solutions include systems to help companies manage their electrical use
and flywheels that store electricity on site to guarantee a steady stream of
power to sensitive equipment. Other companies target the power companies
themselves, with everything from software to satellite meter-readers.
At the venture capital level, backers tend to be looking for smaller
investments and quicker returns. That's been an obstacle for some early-stage
"green" companies.
"Everybody's supply-side," lamented R.W. Cushing, an entrepreneur whose
Austin, Texas, alternative energy marketing company got the cold shoulder
from VCs at the Boston tech conference. "Nobody thinks in demand terms."
But in fact, alternative energy firms raised $2 billion last year from IPOs
and VCs, according to research firm Clean Edge, based in Oakland, Calif.
Renewable energy requires deep pockets and patience, and tends to be backed
by big power companies that, if they can make alternative energy work, have
the infrastructure in place to distribute it.
Many big power companies are ensuring that they get the needed technology by
backing start-ups themselves. Houston-based conglomerate Enron Corp., for
instance, has invested $90 million in 12 companies it sees as strategic
partners.
"I don't think there is a dearth of interest or investment in renewable
technologies," Lincoln said. "(But)... the reason why you see such a strong
level of interest in helping the supply-side companies is, right now, that's
where the capital is being spent."

AP Photo NY1398 of July 23
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.

USA: Brazil moves to head off energy crunch, recession.
By Chris Baltimore

07/27/2001
Reuters English News Service
(C) Reuters Limited 2001.

WASHINGTON, July 27 (Reuters) - Pedro Parente, Brazil's energy czar and close
adviser to President Fernando Henrique Cardoso, assured U.S. officials on
Friday that South America's largest economy can still meet its growth targets
despite the double whammy of energy shortages and a potential economic
meltdown in Argentina.
Brazil's gross domestic product is on track to grow at 2.7 percent in 2001
and 3.6 percent in 2002, Parente said, speaking at a event sponsored by the
U.S. Chamber of Commerce and the Brazil-U.S. Business Council.
The growth is partly enabled by an aggressive plan Parente instigated for
mandatory energy usage cuts across every sector of Brazil's economy amid a
severe energy shortage.
Brazil is in the teeth of an energy crunch spurred by a drought that has
crimped the nation's hydroelectric-dependent energy supply. Some 93 percent
of Brazil's power comes from hydroelectric projects, with only 4 percent from
thermal generation.
"Our system is highly dependent on hydrological conditions," Parente said.
Flows on Brazil's San Francisco River are the lowest in 30 years, he said.
Unlike California, which is struggling with its own power crisis, Parente's
program sets blackouts as a last resort.
The plan requires residential users to cut demand 20 percent, industrial
customers 20-25 percent, and commercial customers 20 percent from year-ago
levels.
Users pay penalties for exceeding targets and get rebates for consuming below
them.
PLAN ALLOWS POWER RIGHTS TRADING
The plan also creates a "transfer of rights" trading scheme where businesses
and residents that conserve can sell their surplus power for a profit.
The trading program will be instrumental in staving off GDP growth
reductions, Parente said.
Government reports indicate Parente's plan is working. In Southeast Brazil,
the country's most populous region, demand fell about 27 percent from May to
July, Parente said. "For the next four to six weeks we will not need to
resort to blackouts because residential levels are doing quite well," he
said.
Brazil plans to build 6,523 megawatts of new thermal generation through 2003
and 7,803 MW of new hydro generation, and will spend about 30 billion reais
($12 billion) in the process, Parente said. New generation will total about
20,000 MW by 2003, including imports, cogeneration and alternative energy
sources like wind and solar.
Part of the growth could be through foreign joint ventures, which attracted
many U.S. companies to Friday's presentation. AES Corp. ., Duke Energy Corp.
, Exxon Mobil Corp. , Enron Corp. , CMS Energy Corp. , and Unocal Corp.
attended the meeting.
Global investors are souring on Brazil's growth prospects after a 4.5 percent
jump in GDP in 2000. Salomon Smith Barney recently lowered its 2001 growth
forecast to 2 percent from 2.5 percent, and 2002 growth estimates to 2
percent from 4.5 percent because of interest rate hikes and the energy
shortage.
The Brazilian real currency has shed over one-fifth of its value against the
dollar this year, mostly due to investor concerns over Argentina. Brazil is
trying to extend a loan package from the International Monetary fund that
expires at the end of 2001. ($1=2.50 reais.

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

Business
Talking Stocks
David Haffenreffer, Pat Kiernan

07/27/2001
CNNfn: The Money Gang
(c) Copyright eMediaMillWorks, Inc. (f/k/a Federal Document Clearing House,
Inc.). All Rights Reserved.

DAVID HAFFENREFFER, CNNfn ANCHOR, THE MONEY GANG: Now let`s start Talking
Stocks.
PAT KIERNAN, CNNfn ANCHOR, THE MONEY GANG: John Eade of Argus Research is our
guest today. You can call or e-mail your questions, the phone number
1-800-304-fnet (3638).
HAFFENREFFER: Snail mail might take too long, but e-mail is good, address
here is moneygang@CNNfn.com. John, welcome back to the program.
JOHN EADE, ARGUS RESEARCH: Thank you.
HAFFENREFFER: Market behaving in what manner?
EADE: Day to day, it`s quite volatile and kind of frightening-- but if you go
back and look at where we were in March and April, the NASDAQ at 1600, S&P at
1100, we`re moving up from there and I think it`s the tentative wavering
steps of a baby bull market. It`s where we are in the cycle. And I`m pleased
so far that we haven`t gone back to touch those lows that we saw earlier this
year. I don`t think we will.
(COMMERCIAL BREAK)
HAFFENREFFER: Time now for more Talking Stocks here on THE MONEY GANG. With
us is John Eade of Argus Research.
KIERNAN: You can give us a call at 1-800-304-fnet (3638); or you can e-mail
your questions to moneygang@CNNfn.com. Let`s get back to it. We have an
e-mail.
HAFFENREFFER: We do have an e-mail from Moise in California with a question
about the short and long-term outlook for Tellabs (URL:
http://www.tellabs.com/) .
EADE: Long term, it`s fine. Clean balance sheet, good management team, solid
products. Short term, I`m not going to say no visibility, but estimates are
all over the place for how this company`s going to do in the next quarter or
so. Their customers are still working off inventory and I think it could be a
"market performer," kind of flat at best, for the next few weeks and months.
KIERNAN: We`ve got Larry in New York on the line.
CALLER: How`re you doing? Thanks for taking my call. Long term: buy, sell or
hold-- Enron (URL: http://.www.enron.com/) ?
EADE: Enron is a I think a "long-term buy." Their chart doesn`t look good. It
looks like it`s unable to make new highs and still heading lower. I think
it`s about to bounce off. Maybe we`ve got a double bottom there in the month
of July. However, the long-term outlook for the energy business, particularly
in the generation and the trading area, which is what Enron does so well, I
think is quite positive. Enron is the leader in that area and I think the
long-term outlook is very good for Enron.
KIERNAN: They got wrapped up in the broadband business there and ended up
taking some quite a hit like anybody else in that business the last little
bit, and I think they`re trying to steer clear of that and get back to a lot
of what they have been successful at in the past.
EADE: Sure, and what they`ve been successful at is a system at building a
trading and marketplace operation, and they applied it to natural gas and
they applied it to electricity and they applied it to broadband. Now let`s
supply it to some other areas.

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

Buenos Aires Invents `Patacon' Currency to Pay Bills (Update1)
2001-07-27 15:15 (New York)

Buenos Aires Invents `Patacon' Currency to Pay Bills (Update1)

     (Adds patacon to begin circulating Aug. 3 in ninth
paragraph. Adds other possible origins of word patacon to 15th
paragraph.)

     Buenos Aires, July 27 (Bloomberg) -- Buenos Aires,
Argentina's most populated province, has resorted to printing its
own currency to settle its bills.
     Governor Carlos Ruckauf has ordered the provincial mint to
print a new bill to pay part of his workers' paychecks. The $500
million of new notes will also pay interest of 7 percent when the
government redeems them in a year's time.
     For those who want to spend them ``they'll be accepted just
like pesos,'' he said.
     Not everyone shares Ruckauf's optimism. Grocery stores such
as Coto Cicsa, Argentina's No. 3 supermarket chain, and electric
utility Edenor SA said they haven't committed to accepting the
patacon, as the new currency is called.
     ``We'd like to think we'll be able to spend these,'' said
Juan Cosino, a worker at the Buenos Aires legislature who next
month will receive $500 of his $1,400 monthly wage in patacones.
``Nobody knows exactly what they'll be good for.''
     Paying its workers with patacones helps Buenos Aires comply
with a central government demand for provinces to reduce spending,
while avoiding the political cost of wage cuts. Argentina needs to
slash public spending to avoid defaulting on $153 billion in debt
that national and regional governments owe.
     The plan may also erode trust in the Argentine peso, whose
one-to-one peg to the dollar has helped maintain confidence among
international and local investors in the country for the past
decade, said economists.

                           `Quasi-Money'

     ``There are uncomfortable implications to having a new stock
of quasi-money,'' said Ernest ``Chip'' Brown, chief Latin America
economist for Banco Santander Central Hispano SA in New York.
``It's deficit spending.''
     The Patacon will begin circulating August 3, when the
province pays workers. One patacon is worth one peso, the
government said.
     Buenos Aires opted to print money as its coffers were hit by
the same realities that have squeezed the central government: a
budget deficit and a limited ability to raise new funds. The
province is projected to run a $1 billion deficit in the second
half of the year. With its bonds yielding 37 percent, few
investors are willing to lend the province fresh cash.
     ``I wish we didn't have to pay our workers this way,'' Anibal
Fernandez, Buenos Aires Labor Minister, said in an interview.
``Frankly, we didn't have a choice.''
     In creating the patacon, Buenos Aires is doing something the
Federal government cannot: Argentina's currency regime forbids the
central bank from printing pesos unless the increase in money
supply is matched by a rise in foreign currency reserves.

                            Precedents

     Buenos Aires, home to 40 percent of Argentina's 37 million
population, isn't the first Argentine province to create its own
currency. Local bonds can be used to pay at restaurants and
supermarkets in some less populated provinces, particularly in the
poverty-stricken north.
     Nor are local currencies unique to Argentina. Ithaca, New
York, issued the ``Hour'' in 1991 to help the town get through a
recession. During the Great Depression in the 1930's, hundreds of
such currencies were created in the U.S.
     By some accounts, Patacones are named after South American
Indians who resided in Argentina's desolate Southern Patagonia
region. Others say the name derives from the patacoon, a Spanish
silver coin that circulated in the 18th century. The new bills
look like pesos and come in denominations of as little as $5.
     Ruckauf said patacones will be paid to the 30 percent of
provincial workers who earn more than 740 pesos ($740) a month.
They will receive as much as 600 pesos worth of the new bills for
part of their salary that exceeds 740 pesos.

                        Limited Acceptance

     The government has limited success in persuading companies to
accept as legal tender notes that Alberto Bernal, Latin American
economist at IDEAglobal dubbed ``funny money.''
     Water utilities such as Azurix SA and Aguas Argentinas SA,
and phone companies Telefonica SA and Telecom Argentina Stet-
France Telecom SA have said they'll accept Patacones as partial
payment, though some were less than enthusiastic about the change.
     ``We'll take only as many patacones as we need to pay our
obligations to the provincial government,'' said Azurix spokesman
Gustavo Pedace.
     Carlos Serrano, a spokesman for the utility Edenor, said his
company wasn't convinced.
     ``The Governor talked about the grave situation in the
province and said the only way to avoid ceasing payments was with
this patacon bond,'' said Serrano. ``We didn't sign on. We want to
help but we need more information.''
     Since it's unclear whether the bills will be widely accepted,
analysts said some workers may sell them at a discount for pesos
or dollars.
     ``If it's hard to spend this money people will create a black
market if history is any guide,'' said Dustin Reid, a currency
strategist at UBS Warburg Llc in Stamford, Connecticut. ``They
will still want dollars under their mattresses.''


There's no way that thing is fitting in the closet... Maybe out back, or
downstairs? We'll figure it out tonight. But we just have to be aware of
Wayne, who might slice the thing up.

>From: Jeff.Dasovich@enron.com
>To: "Scott Laughlin" <scottwl@hotmail.com>
>CC: cameron@perfect.com, jdasovic@enron.com, psellers@Haas.Berkeley.EDU
>Subject: Re: damn boat
>Date: Fri, 23 Mar 2001 13:01:17 -0600
>
>
>dear arse:
>i can move it to the guest room closet for the weekend and plan to take it
>to mendocino soon as we return from mexico.
>
>
>
>                     "Scott
>                     Laughlin"            To:     cameron@perfect.com,
>jdasovic@enron.com,
>                     <scottwl@hotm        psellers@Haas.Berkeley.EDU
>                     ail.com>             cc:
>                                          Subject:     damn boat
>                     03/23/2001
>                     12:39 PM
>
>
>
>
>
>At risk of sounding like a pain in the arse, we do need to get that damn
>boat out of here for this weekend's festivities. It's fine to have a Zodiac
>
>in the living room, if you live in a place like Medecino, but in a city as
>sophisticated as SF, it really does look declasse.
>
>LATE!
>_________________________________________________________________
>Get your FREE download of MSN Explorer at http://explorer.msn.com
>
>
>
>
>

_________________________________________________________________
Get your FREE download of MSN Explorer at http://explorer.msn.com


Marie,
	To recap our conversation, all Morgan needs to move Convertible book from ENA to ECT Investments is the Dupe Doc Letter document (attached) and the Assignment and Assumption letter.  The Journalletter2001 doc is not needed.  The Assignment and Assuption letter can be used instead.

Thanks,
Theresa

 -----Original Message-----
From: 	Joseph Marovich <Joseph.Marovich@morganstanley.com>@ENRON
Sent:	Tuesday, October 23, 2001 4:46 PM
To:	Brogan, Theresa T.
Subject:	Conv documents

Hi,
Here are the documents.
Thx,
Joe

-------- Original Message --------
Subject: Enron
Date: Tue, 23 Oct 2001 17:42:27 -0400
From: Anthony Capolongo <A.Capolongo@morganstanley.com>
Reply-To: A.Capolongo@morganstanley.com
Organization: Morgan Stanley
To: Joseph Marovich <Joseph.Marovich@morganstanley.com>

Joe:

Attached is the dupe letter and journal letter for the Enron accounts.
If they need help filling out the journal letter, I can prepare one
otherwise, they can do themselves.

Anthony
 - Dupe Doc Letter.DOC
 - JournalLetter2001.doc


FYI
---------------------- Forwarded by Kay Mann/Corp/Enron on 10/02/2000 03:36
PM ---------------------------

	From:  Gregg Penman                           10/02/2000 03:25 PM

To: Karen L Barbour/HOU/ECT@ECT, Kay Mann/Corp/Enron@Enron, Sarah
Wesner/Corp/Enron@Enron
cc: Mary Lynne Ruffer/HOU/ECT@ECT

Subject: enovate revolver DASH

Attached is a markup of the previous DASH to reflect the latest proposed
funding of enovate.  Daily, ENA and Peoples will each fund 50% of the cash
requirements of enovate through their respective intercompany loans.  Rather
than reduce the revolver to $25 million, I have left it alone at $50 million
to accomodate expected growth and potential transactions.  In this regard, I
have also attached a spreadsheet which shows the potential cash needs of
enovate based on some very loose assumptions.  Let me know if you think the
edits are sufficient.

I think that Sarah Wesner is on vacation, so if we need input from Global
Finance let me know and I will route it through other channels.  The initial
capital contribution of $100,000 is scheduled for this Friday, October 6.
Loan documentation and a services agreement is being drafted by legal.  The
first payment out of enovate is scheduled for October 25, so that is our
target date for completion.

Any questions or comments, please let me know.

Thanks,

Gregg


I know that we are all under a lot of stress and I probably shouldn't send this note, but I just have to get this off my chest.  Have I done something to undermine your faith in me?

- When I worked on due diligence matters, you asked me why was I working on due diligence
- When I prepared the demand letters you asked me why I was sending the demand letters
- And, today, despite the fact that we oversee the  day to day transactions, there is no mention of my group in the customer letter.

I wish someone would just fire me if I'm incompetent, because I live in a hell worse than being fired -- at least I'd have time for my family.

 -----Original Message-----
From: 	Miller, Mary Kay
Sent:	Thursday, November 29, 2001 2:53 PM
To:	DL-Omaha ETS
Cc:	McCarty, Danny; Corman, Shelley
Subject:	FW: Customer Letter
Importance:	High

The attached letter is being sent out to NNG's customers to assure them that business continues under  ordinary course of business.  We thought it would be helpful for your information as well.  This letter is also being posted on NNG's website.

 << File: customerletter.doc >>


Neil,

I shall do the review with pleasure.

Vince

Neil Davies@ENRON
11/07/2000 01:37 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Ashley Baxter - Review

Vince

Sorry I missed you off the list

Neil
---------------------- Forwarded by Neil Davies/Corp/Enron on 11/07/2000
01:36 PM ---------------------------

Neil Davies
11/07/2000 01:36 PM
To: Lara Marie Berry/Corp/Enron@Enron, Marty Chrisman/Corp/Enron@ENRON,
Shelly Jones/HOU/ECT@ECT, Simone Lewis/NA/Enron@Enron, Beth
Perlman/HOU/ECT@ECT
cc:

Subject: Ashley Baxter - Review

You have all been selected from reviewers for Ashley. Our HR pre ranking will
take place on 14 November therefore I'd be grateful if you could complete her
review by the close of business on 13 November

Thanks for your help with this.

Neil


You go girl.

	From:  Kathleen Carnahan                           12/06/2000 03:58 PM

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

Subject: Nordstrom land option (Kendall County, IL)

FYI
---------------------- Forwarded by Kathleen Carnahan/NA/Enron on 12/06/2000
03:56 PM ---------------------------

Fred Mitro@ECT
12/06/2000 03:49 PM
To: Kathleen Carnahan/NA/Enron@Enron
cc: Ben Jacoby/HOU/ECT@ECT, Rusty Stevens/Corp/Enron@ENRON

Subject: Nordstrom land option (Kendall County, IL)

Kathleen:

The reason for acquiring this option is that Ms. Nordstrom's property is
approximately 1000 feet from the eastern boundary of the project site.  At
this distance, the home represents a potential sound receptor for ENA's
Kendall County development project.  Of course, this is information that
should not be communicated to non-Enron personnel.

Here are the terms which I would like to incorporate into the first draft of
the Option Purchase Agreement between Ms. Ann Nordstrom (Optionee) and
Kendall New Century Development Company, L.L.C. (Optionor):

1.  I would like to use the Fehr Agreement as a template for the Nordstrom
Agreement (including the "Triggering event" language)
2.  The term of the Option should be for 12 months, with language providing
for 4 subsequent 12 month extensions.  Each extension would require an
extension payment to Optionee  (Let's leave this blank - I expect this to be
the same or close to the up-front option premium amount)
3.  I would like to leave the option premium blank (I expect it to be in the
$15-25K range)
4.  I would like to leave the purchase price blank (I expect it to be in the
$200K - $250K range)
5.  I would like to include language that ensures that the Optionee
(Nordstrom) has the ability to sell the property during the option term (or
subsequent extensions thereof), provided that Optionor's right to purchase
transfers with the property to the new Owner (Please confirm the legal
feasibility of this requirement with me ASAP)
6.  The physical address of the property (approximately 2.3 acres) and home
is:
 2013 Beecher Road
 Plano, Illinois
 60545
7.  One issue that I am concerned about is maintaining confidentiality of the
option terms with potential buyers of the Nordstrom property.  Let's discuss
this issue in greater detail.

As you are aware, Ms. Nordstrom's husband recently passed away after a
lengthy illness and she is in an emotionally anxious state of mind.  She has
placed her property and home on the market for $220K  and she is planning to
close on a new home during the month of December.  My goal is to secure an
option on her property prior to her selling the home to a non-cooperative
Buyer.  We need to make sure we exercise the necessary sensitivity and
respect while dealing with Ms. Nordstrom.

Let me know on the timing of preparing this draft.  I would like to forward
the draft to Ms. Nordstrom's attorney by Friday of this week.

Thanks,
Fred


It looks good to me.  Am I missing something?


-----Original Message-----
From: 	"Hofer, Charles" <Charles.Hofer@ElPaso.com>@ENRON
Sent:	Thursday, November 15, 2001 8:40 AM
To:	"'wbradfo@ect.enron.com:'" <wbradfo@ect.enron.com:>; Hendry, Brent
Cc:	Brown, Chuck
Subject:	Global setoff/net out agreement

Bill,

As much as I'd like to get a "global agreement" with several of our large
counterparties it cannot be done.  Legal has advised there are concerns
about these being enforceable.  It was a good idea , but it is not workable.
We must continue margining each other the way we are doing now.

Charles

******************************************************************
This email and any files transmitted with it from the ElPaso
Corporation are confidential and intended solely for the
use of the individual or entity to whom they are addressed.
If you have received this email in error please notify the
sender.
******************************************************************


Wood say issue of contract renewal put off for further examination?  jeff


The attached document is draft 4 of the Interim services ENA will provide to
Bridgeline.  Please review and provide any comments ASAP as we are working
towards a FINAL version.

I will be coordinating a meeting for next week to review these services and
provide a status.  If you are interested in attending, please let me know.

Thanks,

Brenda
713-853-5778


Outlook Migration Team@ENRON
05/11/2001 03:49 PM
To: Cheryl Wilchynski/HR/Corp/Enron@ENRON, Cindy R Ward/NA/Enron@ENRON, Jo
Ann Hill/Corp/Enron@ENRON, Sonja Galloway/Corp/Enron@Enron, Bilal
Bajwa/NA/Enron@Enron, Binh Pham/HOU/ECT@ECT, Bradley Jones/ENRON@enronXgate,
Bruce Mills/Corp/Enron@ENRON, Chance Rabon/ENRON@enronXgate, Chuck
Ames/NA/Enron@Enron, David Baumbach/HOU/ECT@ECT, Jad Doan/ENRON@enronXgate,
O'Neal D Winfree/HOU/ECT@ECT, Phillip M Love/HOU/ECT@ECT, Sladana-Anna
Kulic/ENRON@enronXgate, Victor Guggenheim/HOU/ECT@ECT, Alejandra
Chavez/NA/Enron@ENRON, Anne Bike/Enron@EnronXGate, Carole
Frank/NA/Enron@ENRON, Darron C Giron/HOU/ECT@ECT, Elizabeth L
Hernandez/HOU/ECT@ECT, Elizabeth Shim/Corp/Enron@ENRON, Jeff
Royed/Corp/Enron@ENRON, Kam Keiser/HOU/ECT@ECT, Kimat Singla/HOU/ECT@ECT,
Kristen Clause/ENRON@enronXgate, Kulvinder Fowler/NA/Enron@ENRON, Kyle R
Lilly/HOU/ECT@ECT, Luchas Johnson/NA/Enron@Enron, Maria Garza/HOU/ECT@ECT,
Patrick Ryder/NA/Enron@Enron, Ryan O'Rourke/ENRON@enronXgate, Yuan
Tian/NA/Enron@ENRON, Frank Ermis/HOU/ECT@ECT, Jane M Tholt/HOU/ECT@ECT, Jay
Reitmeyer/HOU/ECT@ECT, Keith Holst/HOU/ECT@ect, Matthew Lenhart/HOU/ECT@ECT,
Mike Grigsby/HOU/ECT@ECT, Monique Sanchez/HOU/ECT@ECT, Phillip K
Allen/HOU/ECT@ECT, Randall L Gay/HOU/ECT@ECT, Tori Kuykendall/HOU/ECT@ECT,
Ina Norman/HOU/ECT@ECT, Jackie Travis/HOU/ECT@ECT, Michael J
Gasper/HOU/ECT@ECT, Brenda H Fletcher/HOU/ECT@ECT, Jeanne
Wukasch/Corp/Enron@ENRON, Mary Theresa Franklin/HOU/ECT@ECT, Mike
Potter/NA/Enron@Enron, Natalie Baker/HOU/ECT@ECT, Suzanne
Calcagno/NA/Enron@Enron, Albert Stromquist/Corp/Enron@ENRON, Rajesh
Chettiar/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Derek Anderson/HOU/ECT@ECT,
Brad Horn/HOU/ECT@ECT, Camille Gerard/Corp/Enron@ENRON, Cathy
Lira/NA/Enron@ENRON, Daniel Castagnola/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Eva Tow/Corp/Enron@ENRON, Lam Nguyen/NA/Enron@Enron, Andy
Pace/NA/Enron@Enron, Anna Santucci/NA/Enron@Enron, Claudia
Guerra/NA/Enron@ENRON, Clayton Vernon/Corp/Enron@ENRON, David
Ryan/Corp/Enron@ENRON, Eric Smith/Contractor/Enron Communications@Enron
Communications, Grace Kim/NA/Enron@Enron, Jason Kaniss/ENRON@enronXgate,
Kevin Cline/Corp/Enron@Enron, Rika Imai/NA/Enron@Enron, Todd
DeCook/Corp/Enron@Enron, Beth Jensen/NPNG/Enron@ENRON, Billi
Harrill/NPNG/Enron@ENRON, Martha Sumner-Kenney/NPNG/Enron@ENRON, Phyllis
Miller/NPNG/Enron@ENRON, Sandy Olofson/NPNG/Enron@ENRON, Theresa
Byrne/NPNG/Enron@ENRON, Danny McCarty/ET&S/Enron@Enron, Denis
Tu/FGT/Enron@ENRON, John A Ayres/FGT/Enron@ENRON, John
Millar/FGT/Enron@Enron, Julie Armstrong/Corp/Enron@ENRON, Maggie
Schroeder/FGT/Enron@ENRON, Max Brown/OTS/Enron@ENRON, Randy
Cantrell/GCO/Enron@ENRON, Tracy Scott/Corp/Enron@ENRON, Charles T
Muzzy/HOU/ECT@ECT, Cora Pendergrass/Corp/Enron@ENRON, Darren
Espey/Corp/Enron@ENRON, Jessica White/NA/Enron@Enron, Kevin
Brady/NA/Enron@Enron, Kirk Lenart/HOU/ECT@ECT, Lisa Kinsey/HOU/ECT@ECT,
Margie Straight/HOU/ECT@ECT, Mark L Schrab/HOU/ECT@ECT, Souad
Mahmassani/Corp/Enron@ENRON, Tammy Gilmore/NA/Enron@ENRON, Teresa
McOmber/NA/Enron@ENRON, Wes Dempsey/NA/Enron@Enron, Barry
Feldman/NYC/MGUSA@MGUSA, Catherine Huynh/NA/Enron@Enron
cc:
Subject: 2- SURVEY/INFORMATION EMAIL 5-14- 01

Current Notes User:

To ensure that you experience a successful migration from Notes to Outlook,
it is necessary to gather individual user information prior to your date of
migration.  Please take a few minutes to completely fill out the following
survey. Double Click on document to put it in "Edit" mode. When you finish,
simply click on the 'Reply With History' button then hit 'Send'  Your survey
will automatically be sent to the Outlook 2000 Migration Mailbox.

Thank you.

Outlook 2000 Migration Team

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

Full Name:        Phillip Love

Login ID:  plove

Extension:  3-7376

Office Location:  EB3264b

What type of computer do you have?  (Desktop,  Laptop,  Both)  Desktop

Do you have a PDA?  If yes, what type do you have:   (None, IPAQ, Palm Pilot,
Jornada)  None

Do you have permission to access anyone's Email/Calendar?  no
    If yes, who?

Does anyone have permission to access your Email/Calendar?
    If yes, who?  yes. Elizabeth Soto & Irena Hogan

Are you responsible for updating anyone else's address book?
    If yes, who?  NO

Is anyone else responsible for updating your address book?
    If yes, who?  NO

Do you have access to a shared calendar?
    If yes, which shared calendar?  NO

Do you have any Distribution Groups that Messaging maintains for you (for
mass mailings)?
    If yes, please list here:  NO

Please list all Notes databases applications that you currently use:
personal address book

In our efforts to plan the exact date/time of your migration, we also will
need to know:

What are your normal work hours?  From:  7:30 a.m.    To:  7 p.m.

Will you be out of the office in the near future for vacation, leave, etc?
       If so, when?    NO    From (MM/DD/YY):      To (MM/DD/YY):


Attached is the latest version of the stock purchase agreement.
---------------------- Forwarded by William Keeney/HOU/ECT on 12/06/2000
10:58 AM ---------------------------

KWong@milbank.com on 12/04/2000 07:34:02 PM
To: George.Schaefer@enron.com, Lou.Stoler@enron.com,
Terry.W.Donovan@enron.com, Greg.Blair@enron.com, william.keeney@enron.com
cc:
Subject: RE: INGA--12/04/00 version 2--Markup of ADC Stock Purchase Agreem ent

Here is another revised version of the SPA reflecting the revised language in
Section 8.3 and the GMM, as well as a change in Section 2.11 reflecting
comments from Dee, your HR person.? There is a cumulative blackline included
from the draft sent earlier this morning as well.

Please let me know if you have any further comments so I can email out to
Marshall Taylor, et al.

Regards,
Karen

__________________________________________________
Karen B. Wong
Milbank, Tweed, Hadley & McCloy LLP
601 South Figueroa Street, 30th Floor
Los Angeles, California 90017
USA
kwong@milbank.com (email)
(213) 892-4419 (office telephone)
(213) 892-4719 (office fax)
(213) 479-3129 (cellular telephone)

-----Original Message-----
From: Wong, Karen
Sent: Monday, December 04, 2000 4:07 PM
To: 'George.Schaefer@enron.com'; 'Lou.Stoler@enron.com';
'Terry.W.Donovan@enron.com'; 'Greg.Blair@enron.com';
'william.keeney@enron.com'
Subject: RE: INGA--12/04/00 version 2--Markup of ADC Stock Purchase
Agreement
Importance: High

here is an interim redline of the SPA reflecting comments from our call.?
sorry in advance for errors...
__________________________________________________
Karen B. Wong
Milbank, Tweed, Hadley & McCloy LLP
601 South Figueroa Street, 30th Floor
Los Angeles, California 90017
USA
kwong@milbank.com (email)
(213) 892-4419 (office telephone)
(213) 892-4719 (office fax)
(213) 479-3129 (cellular telephone)

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

? ? ?

?
 - SPA 1204v3.doc
 - SPA 1204v3redline.doc
 - SPA 1204v3cumulativebk.doc


---------------------- Forwarded by Gerald Nemec/HOU/ECT on 03/01/2000 09:04
AM ---------------------------

Jeff Gilliam@ENRON
02/14/2000 01:22 PM
To: Gerald Nemec/HOU/ECT@ECT
cc:
Subject: Bid List

Gerald,

Please review the attached list below for an existing MSA contract.  Also,
please establish an MSA contract with each contractor that does not already
have one.  The list below does contain a contact number and name as well as
the company's full name and address.

Thanks for your assistance!

Jeff Gilliam
---------------------- Forwarded by Jeff Gilliam/Corp/Enron on 02/14/2000
02:18 PM ---------------------------

Ken Kimminau <K.Kimminau@FORERUNNERCORP.COM> on 02/14/2000 01:10:22 PM
To: "Jeff Gilliam (E-mail)" <Jeff_Gilliam@enron.com>
cc:

Subject: Bid List

Jeff;

Here's the bidders list as it stands now.  We have contacted the bidders
listed and confirmed the name and address for each.

Let me know if you need anything else.

Ken

 - RFQ Address LIst.xls


Lou,

I am still here but I am unable to give out quotes at this time.  Please accept my apologies and I will be in touch once things are straightened out around here.

Kim

 -----Original Message-----
From: 	"Louis Barton" <lbarton@hesinet.com>@ENRON
Sent:	Monday, December 10, 2001 2:33 PM
To:	Ward, Kim S (Houston)
Subject:	38 month Gas Supply at PG&E Citygate

Kim:
    If you're still there, I'm checking on prices for United Cogen's 38
month strip at the PG&E citygate, running from June'03 through August '06.
Hope things are getting better there.  Thanks a lot.

Louis Barton-Project Manager
Henwood Energy Services, Inc.
1300 Parkwood Circle, Suite 100
Atlanta, GA 30339
Office: (770) 226-8482  ext. 13
Fax: (770) 226-8737


I have just a couple questions about your expense report. Let's go over it
whenever you get a chance.

Kate


M,
Is there a WR # or just include this with my general WR for SCADA uploading?
-John

Mark Fisher
03/12/2002 08:40 AM
To: John M Ruiz/EWC/Enron@Enron
cc: Hollis Kimbrough/EWC/Enron@ENRON

Subject: VisuPro Downloads needed

John,

The following files are needed.

ErrStat and ErrStat_old (if it exists) for turbines 29,30,31 and 78,79,80.

Mon Files for Feb and March for at least 30, 79.

MinAna files for 30, 79.

Thanks

Mark Fisher


Kathy-

I got your message.  Kali has been going to the Thursday practices, with the
exception of the last three weeks due to rainout, spring break and a going
away party for a friend.  She'll be there on this Thursday.  Do you have a
uniform for her?  Maybe she would feel part of the team if she gets a shirt
and has that for the next game.  I'll try to work on her.

Thanks,

Susan Pereira


I do not understand the Netco/Newco comments.

Clearly at this point Enron the estate should maintain the space until it is sold to a new buyer.  That would be a Don Miller/Fallon final call - but I think its a no brainer.

-----Original Message-----
From: Luce, Laura
Sent: Thursday, January 03, 2002 10:01 AM
To: Kitchen, Louise; Shepperd, Tammy R.
Cc: Shively, Hunter S.
Subject: FW: remote offices

Under commitments to PEC, Enron has commited to provide office, computers, trading systems, etc.  If this is changing, I need to know quickly.  I have been provided indications from several outside counterparties, some divisions within Newco and I thought Netco as holding interest in purchasing the Chicago business.  Due to the obvious indication of value for the joint venture with PEC, I believe it imperative that the business/office be operational until March, 2002, at a minimum.

Please advise.

Laura Luce

-----Original Message-----
From: Shepperd, Tammy R.
Sent: Thu 1/3/2002 9:20 AM
To: Luce, Laura
Cc:
Subject: FW: remote offices

Laura,
I understand that the Metals group has asked to keep the Chicago office open until Mar 31 to wind things down.  Do you have any new information on ENA's Chicago folks at this time?  We may ask for a 60 day extension under bankruptcy orders to terminate the lease.

Thanks,
Tammy

 -----Original Message-----
From:   Kitchen, Louise
Sent:   Wednesday, December 19, 2001 6:23 PM
To:     Shepperd, Tammy R.; Colwell, Wes
Cc:     Mccarthy, Lance; Corey, Paula; Helton, Susan; Miller, Don (Asset Mktg)
Subject:        RE: remote offices

OK

Please check with Don Miller too.  Netco does not want San Francisco going forward and probably not Chicago.

 -----Original Message-----
From:   Shepperd, Tammy R.
Sent:   Wednesday, December 19, 2001 4:25 PM
To:     Colwell, Wes; Kitchen, Louise
Cc:     Mccarthy, Lance; Corey, Paula; Helton, Susan
Subject:        remote offices

We have asked EPSC to pay the following leases for the month of January based on feedback from ENA commercial leadership.  My understanding is that we may still reject these leases under the bankruptcy if we do so by Feb 2.  I will revisit the status of these leases with you before February rents are to be paid.

Calgary
Portland
San Francisco
Chicago
Denver

I have also been contacted by Paula Corey,  who is working on the enterprise strategy for the retrieval and disposition of remote office contents in the event any of these offices are closed.  I will keep you posted on the recommendations.

Regards,
Tammy


Bob is just entering these deals now.

Kate

Kerri Thompson@ENRON
01/23/2001 01:48 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: tfs checkout

missing deals for bob

sell ees
43.55
25 m,w
cal 03
sp 15
off

buy duke
43.50
25 mw
cal 03
sp15
off

also i am missing deals for bob for apb, i did not get the specifics yet, i
figured he has not put his deals in yet!

thanks