Recent information indicates that the State of Michigan and possibly other
state and industrial parties who have challenged the EPA's NOx SIP Call
regulation in court -- and lost -- will file an appeal with the U.S. Supreme
Court this September.

As you may recall, on June 22, the U.S. Court of Appeals, D.C. Circuit,
upheld the EPA's NOx SIP Call regulations, lifted the stay on the
regulations, and mandated that states move forward with developing and
submitting State Implementation Plans (SIPs) by the end of October 2000.

States that must now develop SIPs include:  Alabama, Connecticut, Delaware,
District of Columbia, Georgia, Illinois, Indiana, Kentucky, Maryland,
Massachusetts, Michigan, Missouri, New Jersey, New York, North Carolina,
Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Virginia, West
Virginia, Wisconsin  (Georgia, Missouri & Wisconsin were excluded from the
regulation by the Appeals Court in its original decision, but will eventually
be re-included in the SIP process)

Impact of a Supreme Court Appeal:

Parties appealing the case to the Supreme Court will likely ask for a stay of
the EPA requirement for states to submit SIPs until the case is finally
decided.    It is not certain whether or not a stay would be granted by the
Court.  An appeal can not be filed until the Court returns at the beginning
of October, and a decision on a stay might not come until after the October
30 SIP deadline, so it many states might proceed with developing their SIP
anyway.   States who choose to not develop a SIP and assume that a stay will
be granted will be taking the risk that they miss the October 30 SIP deadline
and EPA imposes its own Federal Implementation Plan (FIP) -- if the stay is
not granted, the state would have to live with the federal requirements for
NOx reductions in its state.

Another impact is that the May 2003 deadline for implementation of the rule
-- and compliance by emitting sources -- may also be delayed if the Supreme
Court imposes a stay on the regulations and accepts the case on appeal.   If
the case is accepted, a decision would not likely be reached until June 2001,
which would likely delay a compliance deadline until 2004.

We will keep you posted as this situation develops.  Right now, Environmental
Strategies is continuing to work in the states that are developing SIPs, to
ensure that the states treat new generation fairly and that market-based
solutions to NOx reduction are employed so that trading and other
opportunities for Enron businesses will be maximized.

Contacts:    Federal regulation, Court action -- Jeff Keeler 202-466-9157
  State Implementation Plan development -- Mary Schoen  713-345-7422


I see!!
It's no longer worth!  Besides, I had the last laugh when you had your
cosmopolitan last night!

e

	Enron North America Corp.

	From:  Lisa Gillette                           01/07/2000 01:47 PM

To: Eric Bass/HOU/ECT@ECT
cc:
Subject: HELLO?

What - no response to your ranking yet?!


{Cough cough cough, Facial Expression Facial Expression}   SURE!  Ruggles on
me!

Anne Bertino@EES
06/27/2000 04:58 PM
To: Chris Germany/HOU/ECT@ECT
cc: Bob M Hall/FGT/Enron@ENRON
Subject: Lunch

Chris,

Are you free for lunch at 12:00 on Thursday, July 13th?  Bob and I have
penciled it in on our calendars so let us know.

Thanks,
Anne


Hi Mike, as per our discussion I have managed to find a place for Michael in
EBS' D.C. office.  It is likely that he will work for me on the EBS side but
will live in D.C.  I will finalize that later.   Vince had mentioned that it
is okay with him as long as it is okay with you. So please double check with
Vince on this.

I suggest the following transition:

Start date in D.C.   May 1, 2000

From now till the start date, Michael will slowly transition into my group
but MAKE SURE that your activities are transitioned into someone else.  But I
would like to propose the May 1, 2000 date as hard start so that Michael will
have to start moving few days before that, etc.

Regards,

Ravi.


What are we going to do next week?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Friday, February 01, 2002 11:51 AM
To:	Rybarski, Amanda
Subject:	RE:

yeah i think so, we will make it next week, if you are going to leave any earlier let me know

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Friday, February 01, 2002 11:50 AM
To:	Maggi, Mike
Subject:	RE:

I probably won't be able to leave until 4. I'm sure you'll be gone by then.

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Friday, February 01, 2002 11:49 AM
To:	Rybarski, Amanda
Subject:	RE:

im not sure yet, let me know what you are doing

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Friday, February 01, 2002 11:48 AM
To:	Maggi, Mike
Subject:	RE:

When are you leaving today?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Friday, February 01, 2002 11:48 AM
To:	Rybarski, Amanda
Subject:	RE:

i hope you can figure it out, let me know if you need help

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Friday, February 01, 2002 11:47 AM
To:	Maggi, Mike
Subject:	RE:

I wish! I've been sitting here trying to figure out how I can see you today.

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Friday, February 01, 2002 11:45 AM
To:	Rybarski, Amanda
Subject:	RE:

is it next week yet

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Friday, February 01, 2002 11:44 AM
To:	Maggi, Mike
Subject:	RE:

Well then I guess I'm going to have to wear them more often.

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Friday, February 01, 2002 11:42 AM
To:	Rybarski, Amanda
Subject:

i like the glasses


Where would you like to meet?  LU-M
----- Original Message -----
From: <Eric.Bass@enron.com>
To: <lwbthemarine@bigplanet.com>; <daphneco64@bigplanet.com>
Sent: Thursday, November 09, 2000 11:10 AM
Subject: Friday

> What are you doing for dinner tomorrow?  Would you like to meet up with
> Shanna and I somewhere?
>
> Let me know.
>
> -E
>


As you are aware, Enron utilizes temporary staffing services to satisfy
staffing requirements throughout the company.  For the past several months, a
project team, representing Enron,s temporary staffing users, have researched
and evaluated alternative Managed Services programs to determine which source
would best meet our current and future needs in terms of quality, performance
and cost containment objectives.  The Business Unit Implementation Project
Team members are:

Laurie Koenig, Operations Management, EES
Carolyn Vigne, Administration, EE&CC
Linda Martin, Accounting & Accounts Payable, Corporate
Beverly Stephens, Administration, ENA
Norma Hasenjager, Human Resources, ET&S
Peggy McCurley, Administration, Networks
Jane Ellen Weaver, Enron Broadband Services
Paulette Obrecht, Legal, Corporate
George Weber, GSS

In addition, Eric Merten (EBS), Kathy Cook (EE&CC), Carolyn Gilley (ENA),
Larry Dallman (Corp/AP), and Diane Eckels (GSS) were active members of the
Selection Project Team.

As a result of the team,s efforts, we are pleased to announce the beginning
of a strategic alliance with CORESTAFF,s Managed Services Group.  This group
will function as a vendor-neutral management entity overseeing all staffing
vendors in the program scope. They will also provide a web based online
technology tool that will enhance the ordering and reporting capabilities.
The goal of our alliance with CORESTAFF is to make obtaining a temporary
worker with the right skills and experience easier while protecting the best
interests of the organization.

We plan to implement Phase I of this improvement effective January 2, 2001.
This Phase I of the implementation will encompass administrative/clerical
temporary workers at the Houston locations only. If you currently have
administrative/clerical temporary workers in your department, the enhancement
will not affect their position. In an effort to preserve relationships, all
current staffing vendors will be invited to participate in this enhanced
program.  CORESTAFF shares our commitment to minimize any disruptions in
service during this transition.

We expect to incorporate the administrative/clerical workers in Omaha,
Seattle and Portland in Phase II, which is scheduled for February, 2001.  The
scope and timing of any additional phases will be determined after these two
phases have been completed.

Realizing the impact that the temporary workforce has in business today, we
selected CORESTAFF,s Managed Services Group based on their exceptional
management team, commitment to quality service, and creative solutions to our
staffing needs.  The relationship promises to offer Enron a cost effective
and simple means for obtaining temporary employees.

In the coming weeks, Enron and CORESTAFF,s Managed Services Group will be
communicating to Enron,s administrative/clerical temporary staffing vendors
about the new process.

There are many benefits to this new Managed Services program, which are
outlined on the attached page.  More details on how to utilize CORESTAFF,s
Managed Services program will be announced soon and meetings will be
scheduled to demonstrate the reporting system and to meet the Managed
Services team.

What is Managed Services?

CORESTAFF,s Managed Services program includes:

? Vendor-neutral management model
? Equal distribution of staffing orders to all staffing partners
? Web-based application with online ordering, data capture and customized
reporting
? Benchmarking and performance measurement for continuous improvement
? Methodologies for accurate skill-matching and fulfillment efficiencies

Key Benefits

? More vendors working on each order from the outset ) faster access to
available talent pools
? Standardized mark-ups and fees to manage costs more effectively
? Online access to requisition status for users
? Robust databases offering managers enhanced tracking and reporting of
temporary usage and expenditures
? Standard and customized reporting capabilities -- online
? Tenured, experienced Managed Services team on-site to assist users in
accessing web site, identifying usage trends, preparing specialized reports,
etc.

Corestaff/Managed Services/Staffing

Joseph Marsh ) Lead / Operations (josephm@corestaff.com; 713-438-1400)
Amy Binney, Sharon B. Sellers ) Operations
Cherri Carbonara ) Marketing / Communications
Cynthia Duhon )Staffing Partner management


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    LOG MESSAGES:

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Error retrieving HourAhead price data - process continuing...


OFFICE OF THE GOVERNOR
PR01:295
FOR IMMEDIATE RELEASE
06/18/2001
GOVERNOR DAVIS ANNOUNCES AGREEMENT WITH SDG&E, SEMPRA ENERGY
$400-$12,000 Per Customer Balloon Payment Eliminated, No Additional Rate
Increases Required to Pay Off Undercollection
SACRAMENTO
Governor Gray Davis today announced an agreement with San Diego Gas &
Electric and the utility's parent company, Sempra Energy, that will erase a
$747 million balloon payment facing the utility's three million customers.
"The balloon is burst," Governor Davis said. "Under this agreement, the
undercollection is eliminated, without any increase in rates. This is a
massive benefit to the San Diegans, the first Californians to bear the brunt
of our state's energy crisis last summer."
The Memorandum of Understanding (MOU), signed by the Department of Water
Resources for Gov. Davis with Sempra Energy and SDG&E executives while a
group of San Diego ratepayers, and State Senators Steve Peace (D-El Cajon)
and Dede Alpert (D-Coronado) looked on, includes a number of provisions to
eliminate the undercollection that could have cost each customer
approximately $750 (as much as $400 for each residential customer, $1,400
for each small-commercial customer and $12,000 for each medium-sized
commercial customer).
In addition, it would settle several regulatory cases before the California
Public Utilities Commission (PUC), gives the State the opportunity to
purchase 15,780 acres of environmentally-sensitive lands owned by the
company along the Colorado River, and provides below-market power to the
State through December 2010 from the San Onofre nuclear power plant. The
regulatory provisions are subject to PUC approval.
It also calls for the purchase of SDG&E's transmission lines for
approximately $1 billion, or 2.3 times book value. However, the deal is not
contingent on that purchase of SDG&E's transmission network, which includes
170 electric lines exceeding 69 kilovolts in capacity and spans
approximately 1,800 circuit miles from southern Orange County to the Mexican
border. The system also includes about 135 electric substations and
transmission interties with Southern California Edison's system at the San
Onofre Nuclear Generating Station.
"Throughout these long and complex negotiations, Governor Davis and we have
had the mutual objective of reducing the financial impact of California's
crisis on SDG&E's customers and helping the State gain more control over its
energy destiny," said Stephen L. Baum, chairman, president and chief
executive officer of Sempra Energy. "Today's agreement represents a winning
proposition for our customers, the State and our company: it reduces the
future financial burden on our customers, protects the State's economic
future, and creates a clear path for future growth and profitability for our
company. Going forward, we are committed to working with Governor Davis and
the State to implement his recovery plan."
The MOU signed today is the second with California's investor-owned
utilities. An agreement with Southern California Edison is pending approval
before the State Legislature. Unlike the Edison agreement, however, the MOU
with Sempra Energy does not need legislative approval (except for the
acquisition of transmission lines).
"This is an example of the good that can come when parties are responsible
and remain at the bargaining table," Governor Davis said. "This is a
balanced business transaction that benefits ratepayers and provides a stable
environment for the State's third largest utility."
Governor Davis said the MOU will not result in any additional
electric-base-rate increases for SDG&E customers to recover the $750 million
undercollection. Without the MOU, future balloon payments to recover this
sum could have been as much as $750 per customer.
The regulatory balancing account for SDG&E's undercollected power costs had
grown to approximately $750 million since September 2000, when the State
imposed a retail rate cap of 6.5 cents per kilowatt-hour, retroactive to May
2000. California state law AB 265, signed by Governor Davis last year,
provided for SDG&E's recovery of all its prudently incurred power costs, but
delegated responsibility to the PUC for determining the method and timeline
for recovery.
The agreement includes a complex package of elements to eliminate the
balloon payment, such as the settlement of the reasonableness-review case
SDG&E had with the PUC. To settle that case, the utility has agreed to
forego collecting $100 million of the balancing account.
In addition, the agreement notes that:
SDG&E agrees to give back 90 percent of the profits on two long-term power
contracts earned since the energy crisis flared last June. That means SDG&E
will forego collecting another $219 million in the balancing account. (The
California Department of Water Resources will purchase those contracts as of
June 1.);
SDG&E and its sister utility, SoCalGas, will invest at least $3 billion over
six years into capital improvements. In addition, if the State decides not
buy the transmission lines (and
SDG&E builds the Valley Rainbow line) the utility, backed by Sempra Energy,
will put another $500 million into transmission line improvements, subject
to PUC approval). Excluding the transmission system improvements, this is an
increase of $600 million more than the utilities invested in capital
improvements in the previous five years; and
SDG&E will drop all legal claims against the State.
"We know that many of our customers are extremely concerned about the
potential of large balloon payments looming in the future to address our
past undercollections," said Edwin A. Guiles, group president of Sempra
Energy's regulated business units and chairman of SDG&E. "We are pleased
that today's agreement provides the framework to resolve major regulatory
issues to the benefit of our customers. Many challenges remain, but, this
agreement demonstrates that, by working together, we can surmount these
challenges in a way that benefits all the key stakeholders in California's
energy future."
The MOU also calls for the Department of Water Resources (DWR) to continue
to buy power for SDG&E through the agency until certain conditions are met.
DWR has been purchasing power for SDG&E customers since early February.
SDG&E is a regulated utility operating in San Diego and southern Orange
counties. Sempra Energy (NYSE: SRE), based in San Diego, is a Fortune 500
energy services holding company with annualized 2001 revenues of about $13
billion. Through its eight principal subsidiaries - Southern California Gas
Company, San Diego Gas & Electric, Sempra Energy Solutions, Sempra Energy
Trading, Sempra Energy International, Sempra Energy Resources, Sempra
Communications and Sempra Energy Financial - the Sempra Energy companies'
12,000 employees serve more than nine million customers in the United
States, Europe, Canada, Mexico, South America and Asia.


Start Date: 10/6/01; HourAhead hour: 21;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2001100621.txt

Error retrieving HourAhead price data - process continuing...


You need to be aware that we are in the process of selling the Wind Co.  Mark
Metts and Amit Walya are working on this.  If the price changes under the QF
contracts it would impact the sale.  Call Amit to discuss (345-5570).

	Jeff Dasovich
	Sent by: Jeff Dasovich
	01/21/2001 10:23 AM

		 To: Alan Comnes/PDX/ECT@ECT, Angela Schwarz/HOU/EES@EES, Beverly
Aden/HOU/EES@EES, Bill Votaw/HOU/EES@EES, Brenda Barreda/HOU/EES@EES, Carol
Moffett/HOU/EES@EES, Cathy Corbin/HOU/EES@EES, Chris H Foster/HOU/ECT@ECT,
Christina Liscano/HOU/EES@EES, Christopher F Calger/PDX/ECT@ECT, Craig H
Sutter/HOU/EES@EES, Dan Leff/HOU/EES@EES, Debora Whitehead/HOU/EES@EES,
Dennis Benevides/HOU/EES@EES, Don Black/HOU/EES@EES, Dorothy
Youngblood/HOU/ECT@ECT, Douglas Huth/HOU/EES@EES, Edward
Sacks/Corp/Enron@ENRON, Eric Melvin/HOU/EES@EES, Erika Dupre/HOU/EES@EES,
Evan Hughes/HOU/EES@EES, Fran Deltoro/HOU/EES@EES, Frank W
Vickers/HOU/ECT@ECT, Gayle W Muench/HOU/EES@EES, Ginger
Dernehl/NA/Enron@ENRON, Gordon Savage/HOU/EES@EES, Harold G
Buchanan/HOU/EES@EES, Harry Kingerski/NA/Enron@ENRON, Iris Waser/HOU/EES@EES,
James D Steffes/NA/Enron@ENRON, James W Lewis/HOU/EES@EES, James
Wright/Western Region/The Bentley Company@Exchange, Jeff Messina/HOU/EES@EES,
Jeremy Blachman/HOU/EES@EES, Jess Hewitt/HOU/EES@EES, Joe
Hartsoe/Corp/Enron@ENRON, Karen Denne/Corp/Enron@ENRON, Kathy
Bass/HOU/EES@EES, Kathy Dodgen/HOU/EES@EES, Ken Gustafson/HOU/EES@EES, Kevin
Hughes/HOU/EES@EES, Leasa Lopez/HOU/EES@EES, Leticia Botello/HOU/EES@EES,
Mark S Muller/HOU/EES@EES, Marsha Suggs/HOU/EES@EES, Marty Sunde/HOU/EES@EES,
Meredith M Eggleston/HOU/EES@EES, Michael Etringer/HOU/ECT@ECT, Michael
Mann/HOU/EES@EES, Michelle D Cisneros/HOU/ECT@ECT, Mike M Smith/HOU/EES@EES,
mpalmer@enron.com, Neil Bresnan/HOU/EES@EES, Neil Hong/HOU/EES@EES, Paul
Kaufman/PDX/ECT@ECT, Paula Warren/HOU/EES@EES, Richard L
Zdunkewicz/HOU/EES@EES, Richard Leibert/HOU/EES@EES, Richard
Shapiro/NA/Enron@ENRON, Rita Hennessy/NA/Enron@ENRON, Robert
Badeer/HOU/ECT@ECT, Roger Yang/SFO/EES@EES, Rosalinda Tijerina/HOU/EES@EES,
Sandra McCubbin/NA/Enron@ENRON, Sarah Novosel/Corp/Enron@ENRON, Scott
Gahn/HOU/EES@EES, Scott Stoness/HOU/EES@EES, Sharon Dick/HOU/EES@EES,
skean@enron.com, Susan J Mara/NA/Enron@ENRON, Tanya Leslie/HOU/EES@EES, Tasha
Lair/HOU/EES@EES, Ted Murphy/HOU/ECT@ECT, Terri Greenlee/NA/Enron@ENRON, Tim
Belden/HOU/ECT@ECT, Tony Spruiell/HOU/EES@EES, Vicki Sharp/HOU/EES@EES,
Vladimir Gorny/HOU/ECT@ECT, Wanda Curry/HOU/EES@EES, William S
Bradford/HOU/ECT@ECT, Kathryn Corbally/Corp/Enron@ENRON, fvickers@enron.com,
Michael Etringer/HOU/ECT@ECT
		 cc:
		 Subject: IMPORTANT CONFERENCE CALL ON QF/SRAC MATTERS SCHEDULED FOR 12:30
P.M. (NOONISH) ON SUNDAY, JAN.  21

----- Forwarded by Jeff Dasovich/NA/Enron on 01/21/2001 10:21 AM -----

	"Steven Kelly" <steven@iepa.com>
	01/21/2001 05:42 AM
	Please respond to "Steven Kelly"

		 To: "Wayne Kawamoto" <wkawamoto@wm.com>, "Ward Scobee"
<wscobee@caithnessenergy.com>, "Tony Wetzel" <twetzel@thermoecotek.com>,
"Thomas Heller" <hellertj@apci.com>, "Ted Cortopassi"
<TCortopassi@ogden-energy.com>, "Steve Ponder" <steve_ponder@fpl.com>, "Steve
Iliff" <siliff@riobravo-gm.com>, "Ross Ain" <ain@worldnet.att.net>, "Robert
Frees" <freesrj@apci.com>, "Rich Dyer" <Rich_dyer@ogden-energy.com>, "Pete
Levitt" <Pete@calwind.com>, "Paula Soos" <paula_soos@ogden-energy.com>, "Paul
Wood" <paul_wood@ogden-energy.com>, "Nam Nguyen" <nam.nguyen@powersrc.com>,
"Milt Schultz" <bfpjv@c-zone.net>, "Marty McFadden"
<marty_mcfadden@ogden-energy.com>, "Lucian Fox"
<lucian_fox@ogden-energy.com>, "Ken Salvagno" <kbssac@aol.com>, "Ken Hoffman"
<khoffman@caithnessenergy.com>, "Jonathan Weisgall" <jweisgall@aol.com>, "Joe
Ronan" <joer@calpine.com>, "Joe Greco" <joe.greco@uaecorp.com>, "Jack Pigott"
<jackp@calpine.com>, "Hap Boyd" <hap.boyd@enron.com>, "Frank Misseldine"
<fmisseldine@caithnessenergy.com>, "Ed Tomeo" <ed.tomeo@uaecorp.com>, "Ed
Maddox" <emaddox@seawestwindpower.com>, "Duane Nelsen"
<dnelsen@gwfpower.com>, "Doug Levitt" <SDL@calwind.com>, "Doug Fernley"
<fernley.doug@epenergy.com>, "Dean Gosselin" <dean_gosselin@fpl.com>, "Bob
Escalante" <rescalante@riobravo-gm.com>, "Bob Ellery" <bellery@spi-ind.com>,
"Bill Woods" <billw@calpine.com>, "Bill Carlson" <wcarlson@wm.com>, "Bill
Adams" <sangorgon@aol.com>, "Alex Sugaoka" <Alex.sugaoka@uaecorp.com>, "Tom
Hartman" <Tom.Hartman@fpl.com>, "Eric Edstrom" <edstrome@epenergy.com>,
"Scott Frier" <sfrier@kjcsolar.com>, "William Hall"
<wfhall2@duke-energy.com>, "Susan J Mara" <Susan_J_Mara@enron.com>, "Scott
Noll" <snoll@thermoecotek.com>, "Roger Pelote" <roger.pelote@williams.com>,
"Rob Lamkin" <rllamkin@seiworldwide.com>, "Randy Hickok"
<rjhickok@duke-energy.com>, "Lynn Lednicky" <lale@dynegy.com>, "Kent Fickett"
<kfickett@usgen.com>, "Kate Castillo" <ccastillo@riobravo-gm.com>, "Jim
Willey" <elliottsa@earthlink.net>, "Jeff Dasovich" <jdasovic@enron.com>,
"Greg Blue" <gtbl@dynegy.com>, "Frank DeRosa" <frank.derosa@gen.pge.com>,
"Eric Eisenman" <eric.eisenman@neg.pge.com>, "Eileen Koch"
<eileenk@calpine.com>, "Dave Parquet" <dparque@ect.enron.com>, "Curtis
Kebler" <curtis_l_kebler@reliantenergy.com>, "Curt Hatton"
<curt.hatton@gen.pge.com>, "Cody Carter" <cody.carter@williams.com>, "Carolyn
Baker" <cabaker@duke-energy.com>
		 cc: "Jan Smutny-Jones" <smutny@iepa.com>, "Katie Kaplan" <kaplan@iepa.com>,
"Carol Hudson" <Chudson@iepa.com>, "Steven Kelly" <steven@iepa.com>, "Andy
Brown" <abb@eslawfirm.com>, "Doug Kerner" <dkk@eslawfirm.com>, "Diane
Fellman" <difellman@energy-law-group.com>
		 Subject: IMPORTANT CONFERENCE CALL ON QF/SRAC MATTERS SCHEDULED FOR 12:30
P.M. (NOONISH) ON SUNDAY, JAN.  21

An important conference call is scheduled for 12:30 p.m. (PST) on Sunday,
Today, Jan 21 to discuss the status of legislative meetings on QF/SRAC
matters.

Call-In number is            888-422-7124
Particpant Code is          111756

Status Report
After a marathon 12 hour meeting with Assemplyman Keeley, Senator Battin, QF
Parties, and SCE, a Keeley sponsored "deal" was proposed at 3:30 a.m. this
morning.  The crux of the deal is as follows:

For renewables and non-gas fired QF, essentially ...

7.8 cents/kwh for delivered power for 5 years ["all in", i.e. includes
capacity and energy]
1.0 on losses
no 'clawback' for wind resources which may have failed to meet fixed capacity
obligations in the past
Applies "going forward" (presumedly Feb. 1)

For gas-fired QFs...

7.8 cents/kwh for five years, assuming gas is $5.60;  payment will
increase/decrease tied to gas  (this assumes an IER of 9821)
1.0 on line losses
applies "going forward"
Caacity True-up and "forbearance" were not addressed.  Credit worthiness will
be address in the technical conference scheduled for later today (Sunday).
This program will require in part legislative blessing and direction,
followed by CPUC approval of individual contract amendments.  This is
essentially the PG&E/QF "deal" for the gas guys.  For the renewables, it is
more of a fixed payment approach.

A "Technical Conference" is scheduled for Sunday (today) in Sacramento to
work out some of the implementing details.


Hi Grant,

Hope all is well with you. I trust you got my message via the voicemail
that Ileft with Vince late Friday afternoon about my inability to travel -
I'm trying to rearrange my trip for a couple of week's time when my ear has
cleared up, and I look forward to meeting with you one day.

I wrote to Vince last week asking for a favour, but I'm not sure ifhe is
there in Houston. I know that you guys are probably very busy but I was
wondering if you can write a few sentences for me. I'm sending out some
sample chapters to the people who responded positively (all of them!) to my
request for some feedback on the book. Chapter 1 has an 'overview' of the
book with just a couple of sentences on each chapter. Could you please
write a sentence or two for your chapter?

I'm including what I have already written (although I think it has changed
slightly from this version) so that you can see the style.

Many thanks and best regards.

Chris.

2 Overview of this Book

This book aims to provide an in-depth understanding of the pricing and risk
management of energy derivatives.  In the remainder of this chapter we give
an overview of the fundamental principals needed to model and price energy
assets, and which underlie the rest of the book.  As well as introducing
the techniques that underlie the Black-Scholes modelling framework we
discuss the numerical techniques of trinomial trees and Monte Carlo
simulation for derivative pricing which are used extensively later in the
book.

In Chapter 2 we analyse spot energy prices.  Apart from describing
empirical prices we propose a number of processes that can be used to model
the prices. We look at the well-know process of GBM as well as mean
reversion, stochastic volatility and jump processes, discussing each, and
showing how they can be simulated and their parameters estimated.

Chapter 3, written by Vince Kaminski and Grant Masson of Enron Capital and
Trade .

Chapter 4 examines forward curves in the energy markets.  Although such
curves are well understood and straight forward in the world debt markets
the difficulty of storage in many energy markets leads to less well defined
curves.  What we do in this chapter

Chapter 5 presents an overview of the common and not-so-common derivative
structures in the energy markets and discusses their uses.  Examples of
products analysed in this chapter include a variety of swaps, caps, floors
and collars, as well as energy swaptions, compound options, Asian (or
average rate) options, Barriers, lookbacks, and ladder options.

Chapter 6 investigates single and multi-factor models of the energy spot
price and the pricing of some standard energy derivatives.  Closed form
solutions for forward prices, forward volatilities, and European option
prices are derived and presented for all the models in this chapter
including a three factor stochastic convenience yield and interest rate
model with jumps.

Chapter 7 shows how the prices of path dependent and American style options
can be evaluated for the models in chapter 6.  Simulation schemes are
developed for the evaluation of European style options and applied to a
variety of path dependent options.  In order to price options which
incorporate early exercise opportunities, a trinomial tree scheme is
developed.  This tree is built to be consistent with the observed forward
curve and can be used to price exotic as well as standard American style
options.

Chapter 8 develops a new methodology for valuing energy options based on
modelling the market observed forward curve.  The approach results in a
multi-factor model that is able to capture realistically the evolution of a
wide range of energy forward curves and where the user defined volatility
structures can be of an extremely general form.  Closed-form solutions are
developed for pricing standard European options and efficient Monte Carlo
schemes for exotic options.  The chapter finishes with a discussion of the
valuation of American style options.

Chapter 9 focuses on the risk management of energy derivative positions.
In this chapter we discuss the management of price risk for institutions
that sell options or other derivatives to a client and who is then faced
with the problem of managing the risk through time.  We begin with delta
hedging a portfolio containing derivatives and look at extensions to gamma
hedging - using the models from chapters 5 and 7.  The general model of
chapter 7 ideally suited to multi-factor hedging and this is also
discussed.

Chapter 10 looks at the key risk-management concept of Value at Risk
applied to portfolios containing energy derivative portfolios.  After
discussing the concept of the measure, we look at how the key inputs
(volatilities, covariances, correlations, etc) can be estimated.  We then
compare the fours major methodologies for computing VaR; Delta,
Delta-gamma, historical simulation and Monte-Carlo simulation.  Finally, we
look at testing the VaR estimates for various underlying energy market
variables.


Enron is in the process of re-negotiating our contract with Dow Jones Interactive and we need to know if you are currently
accessing this data.  In the near future there will be a cost associated with this information and you are currently listed as
having a license.

Please click on the below link and let us know if you need continued access to this service.

http://nahou-webcl1.corp.enron.com/inquisite/DJI/DJI.html

Thank You,
Market Data


To All California Power Exchange Participants:

Notice is hereby provided pursuant to Section 19.3.4 of the California Power
Exchange Tariff that the staff of the Federal Energy Regulatory Commission
(FERC), as part of its investigation of California markets, has requested
information that my be confidential under Section 19.3.2 of the Tariff.   Such
information consists of participant specific schedules and bids.  The FERC
staff
has requested the California Power Exchange to provide such information no
later
than 24 business hours after the date of this notice.  If you desire to
assert a
claim of privilege or confidentiality pursuant to FERC's regulations or other
legal authority, the California Power Exchange will include your written
assertion of that claim together with its submittal to the FERC staff,
provided
that it is timely received.  Your written statement should be directed to FERC
and delivered to:

     Karen Koyano
     California Power Exchange
     1000 S. Fremont Avenue
     Building A-9 W, Fifth Floor
     Alhambra, CA  91801
     626.537.3173 facsimile

Information must be received no later than Tuesday, September 12, 2000, 9:00
A.M. PDT, to be included with any information delivered to the FERC staff.
You
are also free to take any other legal action you may deem appropriate in the
circumstances of this investigation.

Thank you.


Good Monday Morning to all!

Samantha Boyd will be out of the office this morning, and will return again
tomorrow morning.  Should anyone need to contact her, I am able to do so.
Feel free to contact me at  x5-3317,  should you need any assistance.  Thank
you for your attention to this matter.  Regards, Keegan Farrell


Dear Susan

What's happening now?  It's all over the international news that Enron will
not make it.  what are they saying to the employees?

Thinking about you!
connie

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


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---------------------- Forwarded by Ami Chokshi/Corp/Enron on 06/06/2000
02:06 PM ---------------------------

troy_a_benoit@reliantenergy.com on 06/06/2000 10:35:09 AM
To: "Ami Chokshi" <Ami_Chokshi@enron.com>
cc:

Subject: copanos changes

(See attached file: HPL-June.xls)
 - HPL-June.xls


The Bank's counsel has raised the following issues:

1.  X-default of a generic nature referencing any Enron swap transaction over
a certain threshold amount.  As it is essentiaIly an Enron Corp. credit, I
would fiercely oppose this, but it is a commercial issue.  If it is to be
included, the issue is not the occurrence of the event of default, but
exercise of termination as a result of an event of default, and then only if
the exercise of the right of termination is finally determined to have been
validly exercised.  But as I say, I would tell the Bank to get stuffed.

2.  X-default to Enron Corp. Credit Agreement.  Again this is a commercial
issue, but if the Bank is getting the longer form Guarantee this is not
necessary.  This could however fix to the requirement for the longer form
Guarantee, if the Bank will take a plain vanilla short form Enron Corp.
Guarantee with the x-default.  In any event, if this concept is to be
included, it similarly would need to be qualified to acceleration as a result
of an event of default under the Enron Corp. Credit Facilities.  Frankly, if
Clement is prepared on the longer form Enron Corp. Guarantee, I would tell
the Bank to get stuffed.

3.  X-Default if the Enron Corp. Credit Agreement is determined to be
unenforceable.  Unless I am missing something, this is ridiculous.

4.  The Bank wants to "syndicate" the exposure which might include Schedule
II Canadian Chartered Banks, and which might increase the Bank's cost of
funding.  Therefore they want to build a price escalator into the swaps.
Again, this is a business issue, but if it is to be included it will be a
difficult concept in the context of the swaps, as opposed to a syndicated
loan.  The price escalator will be complicated enough, as well as
incorporating syndication rights and obligations on terms satisfactory to
Enron, such as to which financial institutions, % of permitted syndication,
least cost alternatives, exercise of agent and majority rights, and recourse
for defaults by the Bank (i.e. unlike a loan we are taking credit risk of the
Bank as counterparty on the swaps).

The Bank's counsel did not seem to want to give a legal opinion on the Bank
but was willing on Swapco.  I would insist on getting it from the Bank, as
again this is not a loan but a swap on which we are taking the Bank's credit
exposure.  I am not sure of the status of the requirement for a Bank
guarantee if RBC DS is the counterparty rather then Bank.

Please let me know.


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rise up to help you. The simple act of commitment is a powerful magnet for help." - Napoleon Hill

To be REMOVED from this list, simply click reply and submit.


Francisco tells me that all of the Mexican ISDA Master Agreements provide for automatic early termination (as of the day prior to filing).  Valuation would have occurred as of Friday, Nov. 30, 2001.

The valuation info. that I had (for the parties below) must have come from the commercial people and incorrect.

 -----Original Message-----
From: 	Rohauer, Tanya
Sent:	Tuesday, January 29, 2002 10:20 AM
To:	Shackleton, Sara; Moran, Tom
Subject:	RE: Mexican counterparties - in the money positions

Have they been terminated?  Our file is as of 11/30, but if they have not terminated, the value could be vastly different from that file.

 -----Original Message-----
From: 	Shackleton, Sara
Sent:	Tuesday, January 29, 2002 9:45 AM
To:	Moran, Tom; Rohauer, Tanya
Subject:	Mexican counterparties - in the money positions

I just wanted to verify that the following parties are out of the money (as of 11/30/01):

Compania Minera Autlan
Copamex
Galvak

I was told that these are now in the money to ENA.

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


I'm going.

Thanks,
Robin


Hi Shirley,

 This email is in reference to your vmail regarding my rescheduling my
meeting on tomorrow at 2 pm with Vince.  That is fine with me because the
Credit guys (Craig Chaney and Jeff Kinneman) have had a change in strategy.

 They have asked us to take some time to evaluate Moody's Riskcalc software.
Therefore I have had to put the Duffie project on hold for the last few
days.  However I am about two thirds through the Duffie documents and will
resume studying them as soon as I get through the lengthy RiskCalc documents.

 Let me know if he still wants to meet later in the week

Thanks,
Iris.


Barbara:

I just called and gave Leslie the Duke entities.  The only one left is J.P. Morgan/Chase.  When I get these, I'll send you and Leslie an updated list of entities.

Marie


Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com
----- Forwarded by Carol St Clair/HOU/ECT on 10/15/00 04:48 PM -----

	Corporate Benefits@ENRON
	Sent by: Enron Announcements@ENRON
	10/12/00 06:23 PM

		 To: All Enron Worldwide employees
		 cc:
		 Subject: Open Enrollment 2001

Open Enrollment 2001 is going on now through October 22nd, 5pm CST for
regular full-time and regular part-time employees.  Your 2000 elections will
automatically rollover for 2001, so if you don,t want to make any changes, DO
ABSOLUTELY NOTHING!  Annual elections for all Flexible Spending Accounts will
rollover too!  Yes, you heard right ) ALL 2000 ELECTIONS WILL AUTOMATICALLY
ROLLOVER FOR 2001, INCLUDING SPENDING ACCOUNTS!

To make it even more convenient, print your 2001 confirmation statement right
from the web site and you,re finished!  Sound easy?  It is!  Don,t have your
packet?  No problem!  You can access the enrollment 2001 web site and print
your personal worksheet right from your desktop.  Call Benefits at
1-800-332-7979, Option 1, for additional information or assistance.
Confirmation statements will be mailed to your home at the end of October and
final changes for 2001 can be made via the web or IVR from 11/8-11/15.

Logon to WWW.ENRON.BENEFITSNOW.COM today!

QUICK FACTS
? 100% Default for All Current Elections and Spending Accounts ) Don,t Want
to Make a Change?
 Then Do Absolutely Nothing ) Your 2000 annual election will ROLLOVER for
2001!

? $250 Medical Deductible Plan for Employees Residing Outside of a Network
Area

? HMO plans going away )
Coventry Health Care of Iowa (formerly known as Principal Health Care)
Presbyterian Health Plan
HealthNet of Oregon (formerly known as Qual/Med)
Blue Shield of California

? Orthodontia treatment is NOT considered a pre-existing condition under the
Enron Corp. Dental Plan.
 The Plan will coordinate with other coverage based on coordination of
benefit (COB) rules.
 (Contact MetLife at 1-800-492-8588 for specific details and information)

? New Hires who make their 2000 elections by 10/16 will receive their 2001
packets the first week of
 November for enrollment during 11/8-11/15; elections not in by 10/16 will
require a manual enrollment
 for 2000 and 2001 and must be made within 31 days of their hire date

? Provider directories can be accessed directly from the enrollment 2001 web
site or - 1) link directly
 to the providers through the HR/Benefits Intranet Website or 2) go directly
to the source by logging
 on through the web at:

www.cigna.com        www.vsp.com
www.provider.uhc.com/enron     www.merck-medco.com


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Globalstar USA and Calence Announce Satellite Access to VPN Networks   SAN FRANCISCO, Jun 6, 2001 /PRNewswire via COMTEX/ -- Globalstar USA/Caribbean, a leading provider of satellite-based mobile services, and Calence, Inc., a full service network integrator based in Tempe, Arizona, today announced a new technology solution that allows Globalstar customers to establish a Virtual Private Networks (VPN) via satellite. The Calence integrated technology solution allows customers to use industry leading VPN products from companies such as Cisco and Microsoft on the Globalstar satellite system.   Globalstar USA launched Globalstar Data Services in December 2000. The Globalstar GSP-1600 phone by Qualcomm acts as a wireless modem and attaches via data cable to a laptop computer or a personal digital assistant (PDA). Previously, Globalstar data customers could remotely access Internet sites, search engines, most consumer email and instant messaging. The next challenge was to develop a solution that would enable satellite phone customer to access a VPN on a narrowband channel. By integrating the critical technologies required to deliver this secure solution, Calence gives Globalstar Data Services a much broader commercial appeal by addressing concerns about network protection.   "This technology solution by Calence expands our family of business applications by giving Globalstar customers secure access to their office network from the field," said Dennis McSweeney, vice president and general manager for Globalstar USA. "By providing satellite connectivity and by working with leading companies like Calence, we continue to lead the satellite services industry."   After installing the selected network server hardware and the VPN software, a customer connects the computer to the Globalstar phone, logs into the data system and launches the VPN application. The VPN software provides 56 bit encryption and is compatible with various corporate network systems including Cisco's VPN (using IPSec) and Microsoft's VPN (using PPTP).   "Many of us take remote access for granted in metropolitan areas. The Globalstar and Calence VPN solution truly fills a business need for secure access to data in remote parts of the U.S. or the world," said Joel Pogar, director of information security for Calence. "Calence is committed to being the best network integrator on the planet. Our success with Globalstar reflects that commitment."   Availability   Individuals and businesses can purchase Globalstar phones and service, including data, through Globalstar USA and Globalstar Caribbean distributors. A list of more than 700 dealer locations throughout the U.S. and Caribbean can be found by visiting our web site at: www.globalstarusa.com, or phones can be purchased directly by calling 1-877-SATPHONE (877-728-7466).   Customers can purchase the VPN solution by Calence by calling 877-CALENCE (877-225-3623). Additional information about Calence can be found at www.calence.com.   About Globalstar USA/Caribbean   As the exclusive Globalstar service providers in the United States and the Caribbean, Globalstar USA and Globalstar Caribbean are responsible for marketing, selling and distributing mobile satellite communications service, including billing and customer care operations, as well as building and operating the United States and Caribbean ground stations, or "gateways," which switch calls to and from the satellite to the land-based public switched telephone network. Globalstar USA and Globalstar Caribbean are wholly owned subsidiaries of Vodafone Group Plc. (NYSE: VOD), which is a partner of Globalstar Limited Partnership (Nasdaq: GSTRF), the partnership of the world's leading telecommunications service providers and equipment manufactures that built, owns and operates the satellite network. For more information visit our website at www.globalstarusa.com.   About Calence, Inc.   Calence is a full-service network integrator headquartered in Tempe, Arizona. Calence offers consulting services, designs and builds computer networks, resells networking equipment and provides managed network services for its enterprise client list. The fast growing privately held company has offices in Tempe, Chicago, Dallas, Los Angeles, Kansas City, and Minneapolis. Calence is a Cisco AVVID, security, professional services and gold partner and has received accolades for its growth and services from companies such as Arthur Andersen, Ernst & Young, and Inc. Magazine.   MAKE YOUR OPINION COUNT - Click Here                http://tbutton.prnewswire.com/prn/11690X11475105  SOURCE Globalstar USA   CONTACT:          Mila Fairfax of Globalstar USA, 925-274-4966, or                   mila.fairfax@globalstarusa.com; or Larry Scott of Calence, Inc., 480-889-9729,                   or lscott@calence.com URL:              http://www.calence.com                   http://www.globalstarusa.com http://www.prnewswire.com  Copyright (C) 2001 PR Newswire.  All rights reserved.  -0-   KEYWORD:          California                   Arizona INDUSTRY KEYWORD: CPR                   TLS SUBJECT CODE:     CON     [IMAGE]    ***IMPORTANT NOTICE AND DISCLAIMER REGARDING THIS COURTESY EMAIL***   At your request, as a subscriber to our service, this email alert is being sent to you as a courtesy and is for information  purposes only.  We are a financial news re-distributor.  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Consequently, there may be sales and/or purchases of such securities by our employees prior to, during and immediately following the dissemination of the advertisement.   Please note that (1) this email may not contain the full text of  the press release issued by, or the research or other reports  regarding, the Monitored Company; and (2) the text of the  advertisement, the press release and/or reports were obtained  from third party sources and were not written, generated or  edited by us; accordingly, we make no representations or give  any assurance as to the accuracy or completeness, nor have we conducted any independent investigations of, the disclosures  regarding the subject matter of such releases and reports.   Please note that links to the advertising company and/or  Monitored Company are provided for your convenience.  We  assume no obligation for the content of such sites.   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---------------------- Forwarded by Don Miller/HOU/ECT on 10/31/2000 10:26 AM
---------------------------
From: Stuart Zisman on 10/31/2000 09:03 AM
To: Don Miller/HOU/ECT@ECT
cc:
Subject: Re: LOST INFO

See attached.

Stuart


Darrell,

Thanks a lot. I really appreciate it. The text is below our usual
standards but we are completely swamped with work here.

Vince

Darrell Duffie <duffie@Stanford.EDU> on 08/15/2000 04:54:23 PM
Please respond to Darrell Duffie <duffie@Stanford.EDU>
To: Vince.J.Kaminski@enron.com
cc:
Subject: Re: Full version

I'll have a look!

I haven't much time, but can certainly
get you a quick reaction, at least!

Best, Darrell

> X-Lotus-FromDomain: ECT
> From: "Vince J Kaminski" <Vince.J.Kaminski@enron.com>
> To: duffie@Stanford.EDU
> Date: Thu, 10 Aug 2000 14:04:47 -0500
> Subject: Full version
> Mime-Version: 1.0
> Content-Disposition: inline
> X-UIDL: 9fef7462afa5d4ee6c04c9c02df71b25
> X-Keywords:
>
>
>
> Darrell,
>
> Grant just alerted me that I sent you only  part of the text.
>
> Here is the full chapter with an aged version of Gran't part.
> What I sent you represents an update of his contribution.
>
> Sorry for that.
>
> Vince
>
>  (See attached file: vol0720.DOC)

_____________________________________________
Darrell Duffie
mail  GSB Stanford CA 94305-5015 USA
phone 650 723 1976
fax   650 725 7979
email duffie@stanford.edu
web   http://www.stanford.edu/~duffie/
_____________________________________________


Mary,

How are we looking on the rest of our estimates thru King Ranch?  do we need
to adjust Big Cowboy or 3 Rivers?

D

Mary Poorman@ENRON
01/10/2001 11:53 AM
To: Vance L Taylor/HOU/ECT@ECT, Daren J Farmer/HOU/ECT@ECT, Robert
Cotten/HOU/ECT@ECT, Fred Boas/HOU/ECT@ECT
cc: Edward Terry/HOU/ECT@ECT, Melissa Graves/HOU/ECT@ECT, Rita
Wynne/HOU/ECT@ECT
Subject: Saxet Canales into King Ranch - Balancing issue

FYI -

We are having some "after-the-fact" balancing issues with King Ranch.  I just
spoke with Carol regarding our net position with the plant, she has informed
me that the Saxet Canales production we are buying at the inlet has been
averaging approximately 3,850 Dth/day for January, and has been producing at
or around that level since November.  We don't have eyes at the meter,
however, Carol was brought online this past week, and I will be receiving
production information on a regular basis to balance redeliveries.

We have been scheduling 838 to 1,045 Dth/day at the meter.  We need to gross
up for Jan in order to ensure that we capture our volumes correctly and do
not create additional balancing issues with the plant.

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

Mary


Robert,  The original contribution agreement called for Bridgeline Holdings, L.P. to acquire consent for these assignments.  They were required to use "all reasonable efforts to obtain such Consents".  To the extent they did not do so, ENA should not be liable for the $25,000 per month.  I assume Hugh Connett at Bridgeline is the proper person contact person at Bridgeline.  What is the current status of this $25,000 per month bill.  Has Bridgeline invoiced us?

 -----Original Message-----
From: 	Nemec, Gerald
Sent:	Tuesday, November 13, 2001 1:56 PM
To:	Bryan, Linda S.
Cc:	Hall Jr., Robert L.
Subject:	RE: Assignment Letters

Attached are the consent to assignment letters. We will need two executables of each.  Let me know if you will be the one sending these out for execution.

 -----Original Message-----
From: 	Bryan, Linda S.
Sent:	Tuesday, November 13, 2001 11:14 AM
To:	Nemec, Gerald
Subject:	Assignment Letters

What is the status on the assignment letters assigning the LGS Natural Gas Co. and Entergy New Orleans contracts to Bridgeline?

Linda S. Bryan
Ext. 3-3538


Greetings All:

First, I am apologizing in advance for any typos in this email.  Schedule is
very tight, but I wanted to make sure that everyone had it first thing this
morning, with some back-up info that I've included below.

Attached is the email that was sent to Ken Lay's office yesterday evening for
delivery to Sen. Brulte.  It's of course confidential.  Few points:

I don't have Bev's email, so if you could please forward to her, that would
be appreciated.
As we discussed (Jim, Mike, Bev, Scott, Hedy) on our lengthy call on
Wednesday, I'm assuming that the plan is still to "wallpaper" Sacramento with
our proposed legislation.
This email does not contain the legislation.  Mike sent the "final" versions
of our legislation out yesterday, except for the siting piece, which I
believe Brian Cragg of Mike's office is finalizing today.
You'll note that we promise Senator Brulte in the email that we'll deliver to
his office today the proposed legislation.  Again, based on our call on
Wednesday, I'm assuming that we would simultaneously release the proposed
legislation to the rest of the world at the same time.
When we spoke on Wednesday, we decided that the Sacramento team would
determine to whom we would circulate the proposed legislation at the same
time that we deliver the Senator Brulte. I'm assuming that you folks will
handle that end of things.  Please let us know at your convenience to whom
you've decided to circulate.
This email does, however, include a "summary" of our proposed legislation.
But I'm not certain that the summary included in this email is the
appropriate language to distribute "to the world," or if we'll need instead
to tailor some new language.  I think we all agreed that we need a "one
pager" to accompany the legislative package so that we can communicate the
package effectively.
We also discussed the need to quickly develop a coalition to support our
proposals.  We didn't finalize that plan.  Perhaps the Sacramento team could
propose a plan to do that.  Perhaps we could start with our friends in the
Direct Access coalition?
We also talked about the need at this point to engage in PR and to get the PR
machinery activated, also with the goal of effectively communicating our
legislative package/message.  We're in a meeting with folks today where we
can discuss getting that side of things going and Karen Denne has contacted
Marathon and they're pondering some things that we can do in the near term.
You'll note that there's a considerable amount of information about the DWR
credit issue.  As I recollect, we discussed the issue in depth on the call.
You note that attached to the email is a "legislative fix" to AB1X that could
solve the credit issue and an attached set of "taking points" related to a
second alternative to solving the credit issue:  a PUC order clarifying that
DWR will get its money for power purchase costs.
Note also that Steve Kean reminded me that we've got to continue to push to
get the utilities out of the merchant function.  Accordingly, I've put a
brief paragraph on that issue in the note to Brulte in the last section
(legislative solution) under the topic "create a real competitive retail
market in California."  To the best of my knowledge, we don't have
legislative language on that piece yet, and it seems that we'll need to
discuss it in considerably more depth before doing so.

If you have any questions about any of the materials in the email, please
don't hesitate to contact me or Jim or Sandi to discuss.  I can be best
reached to day by pager at 888.916.7184.

Thanks to all for helping pull this together.

Best,
Jeff

----- Forwarded by Jeff Dasovich/NA/Enron on 02/16/2001 08:27 AM -----

	Jeff Dasovich
	Sent by: Jeff Dasovich
	02/15/2001 06:11 PM

		 To: jdasovic@enron.com, skean@enron.com, Richard Shapiro/NA/Enron@Enron,
James D Steffes/NA/Enron@Enron
		 cc:
		 Subject:

Steve:
Here's a substantially more cleaned-version, with attachments.  There's a
hard copy on your chair.

Best,
Jeff
----- Forwarded by Jeff Dasovich/NA/Enron on 02/15/2001 05:57 PM -----

	Jeff Dasovich
	Sent by: Jeff Dasovich
	02/15/2001 05:56 PM

		 To: jdasovic@enron.com
		 cc:
		 Subject:

Jim:
It was a pleasure speaking with you yesterday.  Based on our conversation,
this email includes the following:

An Enron contact to discuss developing small-scale generation on Tribal lands.

Our views on the impediments to distributed generation and suggestions on how
to remove those impediments.

A description of the credit issues that continue to impede DWR,s ability to
sign contracts with power suppliers, and options to resolve them. Two
possible options for addressing the credit issue are 1) a California PUC
order clarifying that DWR will recover its power purchase costs through
rates, and 2) an amendment to AB1X designed to accomplish the same goal.  I
have attached talking points regarding the California PUC order and proposed
amendments to AB1X.  We believe that an amendment to AB1X is the preferable
option.

Our assessment of the supply/demand picture in California.

Our suggestions for a legislative package designed to solve both the near-
and long-term electricity crisis in California.  We will deliver to your
office tomorrow detailed legislative language.  In those materials we will
also identify existing bills that we believe can easily accommodate our
proposed language.

I hope that the information is useful.  Please do not hesitate to contact me
if you would like to discuss these materials further, or if there is anything
else that I can do to assist you.

Regards,
Ken

Contact Information to Discuss Interest Expressed by Native American Tribes
in Installing Small-scale Generation on Tribal Lands

David Parquet, Vice-President
Enron North America
101 California Street, Suite 1950
San Francisco, CA 94111
Phone: 415.782.7820
Fax: 415.782.7851

2. Key Barriers to Distributed Generation

Excessive and Unnecessary Utility Stand-by Charges

Solution: The executive orders issued by the Governor on February 14th took a
step in the right direction.  Utility stand-by charges have always been
designed by the utilities to protect their monopoly position, extract
monopoly prices from customers, or both.  But there is no reason to limit the
elimination of these charges to generation facilities that are less than
1MW.  These limits will only lengthen unnecessarily the time it takes for
California to close the significant gap between supply and demand and reduce
the risk of black outs this summer.  We would propose lifting the cap by
offering amendments to SB27X, which is designed to facilitate development of
distributed generation.

Excessive delays and costs related to interconnecting facilities with
investor-owned and municipal utilities

Solution:   The Governor,s executive order regarding interconnection is a
step in the right direction*D-D-26-01 requires utilities to complete
interconnection studies within 7 days.  California should ensure that this
requirement applies to all generation facilities, including distributed
generation.  In addition, the financial conflicts the utilities face when
interconnecting generation facilities are simply too powerful to overcome
through executive orders or other regulations.  To the greatest extent
possible, California should shift control over interconnection away from the
utility and place that control with the California ISO.  This could be
accomplished through amendments to SB 27X.

Permitting and Air Quality Issues
Developers of distributed (i.e., &on-site8) generation that is 50 MWs or
greater must receive certification from the California Energy Commission and
therefore face all of the impediments to development that large-scale
generation faces.

Solution: California should ensure that the executive orders (D-22-01 thru
D-26-01) issued by the Governor to expedite plant siting and maximize plant
output apply equally to smaller scale, &distributed generation8 facilities.
In addition, distributed generation that is less than 50 MWs continues to
face local opposition.  The State should ensure that local, parochial
interests cannot block otherwise beneficial distributed generation projects.
These objectives could be accomplished through amendments to SB27X.

3. Credit Concerns Regarding Authority Granted to DWR in AB1X to Purchase
Electricity on Behalf of the Utilities

Enron responded to the RFP issued by DWR to enter into power contracts with
suppliers.
Enron is in active discussions with DWR to establish contract terms with the
goal of entering into a power purchase agreement as soon as possible.
However, ambiguities contained in AB1X have created significant credit risk
concerns that need to be resolved in order to finalize contract terms.
We understand that the lion,s share of counterparties share Enron,s credit
risk concerns.
Enron has proposed several options for resolving the credit risk issues and
is working with DWR to arrive at a solution that is mutually agreeable to
both sides and that might serve as a template for power purchase agreements
going forward.

Summary of the Source of the Credit Risk Issue

Ambiguous Ratemaking Authority
The language in AB1X is ambiguous as to whether DWR has any authority to
charge California ratepayers for the costs of purchasing power.  From our
analysis of the bill, the language in AB1X appears to leave intact the
California PUC,s exclusive jurisdiction over ratemaking in California.  As
such, suppliers have no assurance that the PUC will agree to include in rates
adequate charges to cover DWR,s costs of power purchases.

Ambiguous Regulatory Authority Regarding Contract &Prudence8
The language in AB1X leaves open the possibility that the California Public
Utilities Commission could determine that power purchases made by DWR are
&imprudent.8  On the basis of such a finding, the CPUC could then refuse to
allow DWR to collect from ratepayers the costs associated with its power
purchases.  Consequently, suppliers have no assurance that the PUC will agree
to include in rates the charges to cover the costs of power contracts that
DWR has entered into with suppliers.

Ambiguous Language Regarding the Ratemaking Mechanism that Will Be Used to
Recover DWR,s Costs of Power Purchases
In addition to the ambiguity regarding ratemaking and regulatory authority
noted above, the language in the bill is equally ambiguous with respect to
the specific ratemaking &mechanics8 that AB1X directs the PUC to employ to
permit DWR to recover its power purchase costs. Based on our analysis, it is
extremely difficult to determine how the PUC would design the rates to ensure
DWR recovers its power purchase costs.  Moreover, as currently drafted, it is
difficult to determine whether AB1X would even permit the PUC to include in
rates all of the charges necessary to fully recover DWR,s power purchase
costs.  Again, this ambiguity raises significant credit risk concerns since
suppliers have little assurance that DWR will have the ability to recover
from ratepayers the costs of purchasing power.

Options to Resolve Concerns Regarding Credit Risk

We have been working diligently with DWR officials to resolve the credit risk
issues.  We have identified three options:

Amend AB1X
The amendments, which are attached to this email, would clarify that a) the
PUC would accept as &prudent and reasonable8 all purchase costs incurred by
DWR, and b) the PUC is obligated to include in rates the charges necessary to
ensure that DWR fully recovers its costs of power purchases.  This is the
preferred option, though we understand that the there may be some political
challenges standing in the way of amending AB1X.  (See attached file
entitled, &AmendAB1X.doc8.)

Clarify the Ambiguities in AB1X through an Order Issued by the PUC, and
through Contract Language
This is the option that we are currently working with DWR officials to
implement.  However, it is more complicated and could take significantly more
time to implement than the "legislative" fix.  We have attached electronic
copies of the talking points related to the order that the California PUC
would need to issue under this option.  (See attached file entitled,
&cpuctalkingpoints.doc.8)

Make Use of Other Instruments Designed to Address Credit Risk
As indicated in our letter responding to DWR,s RFP, we are willing to accept
other forms of credit from DWR.  Those options include a letter of credit,
cash prepayment, or an acceptable form of collateral.  DWR officials have
indicated to us that DWR prefers to pursue the second options. That is, DWR
prefers to clarify the ambiguities in AB1X through a PUC order and through
contract amendments.

4. California,s Supply-demand Picture Heading into Summer 2001

Both the California Energy Commission and Cambridge Energy Research
Associates (CERA), a private sector energy think tank, have issued reports
showing that California faces a severe supply-demand imbalance.  They differ
only on how much and how soon additional supply will be made available.  All
credible sources agree that supply will be very tight throughout the Summer
of 2001 and that unless a solution is found immediately, blackouts are
likely.

CEC and CERA both forecast that California will be short of supply this
summer by approximately 5,000 MW.   These numbers are in line with our
estimates.  California,s supply base currently has a 6% capacity margin, well
below the average 15-20%, which is recommended for reliable system operation
in the West.  Since the West relies more heavily upon hydroelectric power
than other regions, reserves are particularly important, owing to the
unpredictability of the weather and the dry year the West has experienced to
date. In the event of a low rain and snow period, the system must possess the
flexibility to respond to the reduced availability of power supply.
California,s very low reserve margin makes it especially susceptible to this
requirement.

Other reasons for reduced supply for the Summer of 2001 include the early
draw-down of reservoirs in the continual effort to manage California's severe
supply-demand gap; emissions restrictions on existing plants; and a reduced
number of customers who can be curtailed under their contracts with the
utilities.  Cambridge Energy Research Associates asserts that at the current
pace of siting, permitting and construction, adequate supplies will not be
added to correct the market imbalance until 2003 at the earliest.

CERA predicts that California is likely to face approximately 20 hours of
rolling black outs this summer.  The CEC paints a considerably more
optimistic scenario, betting that California will bring an additional 5,000
MWs on line to meet peaking summer demand.  It is our view that California
should view the CEC's "rosy scenario" with considerable skepticism.

5. Suggested Package of Legislative Proposals Designed to Solve California,s
Electricity Crisis

This email offers an overview of our proposed legislative solution.  We will
deliver to your office tomorrow specific legislative language and existing
bills that we believe can accommodate our proposals.

As we have suggested throughout the crisis, any solution to California's
crisis must focus on four issues:

Increase supply
Decrease demand
Establish a truly competitive retail electricity market
Return California,s Investor-owned utilities to solvency

Increase supply--Legislative vehicle: SB28X (Sher)
To site and construct a power plant in Texas takes approximately 2 years.
Enron and others have completed the entire process in other states in less
than a year.  In California, it takes about six years, or longer.

The Governor,s executive orders and Senator Sher,s siting reform legislation
are steps in the right direction.  Our suggested amendments can improve those
efforts by further addressing the difficulties that project developers face
in securing air emission reduction credits to meet the air permit
requirements included in the CEC's certification requirements.  Enron,s
proposal seeks to streamline the process for 1) obtaining credits and 2)
transfering credits between air districts.  In addition, it creates an
innovative emissions reduction bank to allow project sponsors to fund
emissions in advance of obtaining certification, and permits the affected air
districts to use those funds to finance projects that will produce the
required reductions in pollution emissions.

Decrease demand*Legislative Vehicle:   AB31X (Wright)
Because of the delay in getting a solution in place in California, closing
the supply-demand gap through energy conservation and efficiency offers the
best chance of avoiding blackouts this summer.  This can be accomplished most
effectively and quickly in two ways:

Buy-down demand
California is tapping into an enormous amount of money from the General Fund
to finance DWR,s power purchases.  California could likely reduce demand more
economically by running an auction to determine the payments businesses would
be willing to receive to reduce their demand for a sustained period (e.g.,
through the summer months).  DWR could easily run an on-line auction to
determine the price it could pay for these demand reductions.  To
participate, businesses would be required to have the metering equipment
necessary to monitor and verify that they are actually achieving the
reductions.  Enron has developed an on-line auction software package, &Deal
Bench,8 that it would be willing to contribute to the effort.

Use Price Signals to Incent Voluntary Curtailment
To be successful, customers need access to the following key elements:

An internet based hour-ahead price posting system to track the market price
for hour-ahead power in real time.
Real-time metering systems for baseline demand and voluntarily curtailment
verification.
Settlement process that allows for market clearing prices of energy to be
paid for load reduction (&Negawatts8).

The potential benefits of an effective demand response program would include:

&creation8 of additional summer peaking capacity in California, particularly
in the short term, without requiring construction of additional generation
resources.
reduction of  peak or super-peak load on the over-stressed California
electric system, thus potentially reducing the overall cost of electricity in
the state.
fostering of demand elasticity without subjecting customers to the full risk
of hourly market price volatility by passing market price signals to
customers and allowing them to voluntarily shed load and be compensated for
responding.

We estimate that we could generate a summer 2001 on-peak demand response in
excess of 400 MW during certain high cost hours, and a demand response for
summer 2002 on-peak hours that could exceed 1000 MW.  We further estimate
that the market response to this program from all ESPs could be 2 to 3 times
that amount.  We recommend that the State of California provide rebates
directly to customers to fund the installation of advanced metering and
control systems that would support load curtailment implementation.

Establish a truly competitive retail electricity market*Legislative vehicle:
SB27X
The only customers who were protected from price volatility in San Diego were
customers who chose Direct Access and signed fixed price deals with energy
service providers.  Ironically, AB1X takes that important option away from
customers and businesses.  It is critical that AB1X be amended to remove the
prohibition against Direct Access.

Enron's legislative proposal would give customers freedom to enter into a
direct access transaction, while simultaneously addressing the Department of
Water Resources' concerns about stranded power costs that might result from
customer migration.

In addition, California will only achieve a competitive retail market when
the utility is removed completely from the procurement function.  Procurement
is not a utility core competency, as evidenced by the dire financial
condition in which the utilities now find themselves.  California should
therefore begin immediately to phase the utility out of the procurement
function entirely, with the goal of having all customers served by a
non-utility provider within 36 months.  To execute the transition, California
should hold a series of competitive solicitations over the 36-month period in
which competing service providers would bid for the right to serve segments
of utility load.

Return California,s Investor-owned utilities to solvency*Legislative vehicle:
AB18X
Utility bankruptcy will not increase supply and it will not decrease demand.
In short, bankruptcy does nothing to solve California,s supply-demand
imbalance.  In addition, bankruptcy increases the likelihood that consumers
and businesses will bear the significant financial risks of having California
State government assume the role of &electricity buyer8 for an extended
period of time.  Finally, bankruptcy will undermine both investor confidence
in California's energy markets and the private sector's willingness to
participate in that market.

California can return the utilities to financial solvency by implementing a
series of staged rate increases.  California should design those rate
increases with the dual goal of returning the utilities to solvency without
&shocking8 the economy or household budgets For example, California could
amortize the recovery of the utilities, past debt over a 5-10 year period.
In addition, the magnitude of the rate increase can be reduced in two ways:
First, the utilities could absorb some portion of their existing debt in
recognition of the risk they accepted when they agreed to the structure of AB
1890.  Second, California can &net8 the revenues the utilities have received
from selling electricity into the Power Exchange against the debts they have
accrued due to the retail price cap.


Greetings Jess:
I work in Government Affairs in San Francisco.  I would like to discuss
internally and think hard about this before we give any response to the
staffer at the CPUC---not because we have any reason not to respond, but
because this a problem created almost exclusively by the PUC, and I don't
want to give the PUC the opportunity to shift bad decision making and actions
onto us.  There's a very easy fix to the situation.  The Commission can
reverse the bad decision it made a month or so ago, and permit customers to
return to utility service.

I've forwarded all of the information to Catherine Woods and Roger Ponce.
Let's discuss more internally when we've gathered up all the facts and then
decide whether and how we choose to respond to the staffer at the PUC.  My
number's 415.782.7822.   Feel free to give me a ring.  Thanks very much Mike
for helping to track down the info.

	MDay <MDay@GMSSR.com>
	02/27/2001 06:16 PM

		 To: "'Jess Hewitt'" <jhewitt@enron.com>
		 cc: "'Jeff Dasovich Enron SF'" <jdasovic@enron.com>
		 Subject: RE: CPUC inquiry re gas customer turnbacks

Jess, there is little more than I indicated in my note.
I received a phone call from Sarita Sarvate, an analyst at the Energy
Division of the CPUC asking why we were returning gas customers to utility
service, citing "a number of customer complaints, including a school and a
hospital".  It now turns out that the school and the hospital are from the
same customer essentially.  The CPUC staff recognizes that they have no
direct jurisdiction over gas sales, but are concerned about the effect of
turnbacks on their utility regulation, as they are in the process of
eliminating the core subscription program which allows noncore customers to
take core service.  In fact there is now a resolution in place barring
noncore customers from taking core subscrition service from SoCalGas or
SDG&E.  They want to know if this is part of a trend which they will have to
adapt to or whether it is an isolated incident.  In addition, they would
like to be able to offer the customer some options for continuing gas
service.

Let me know if I can add any more or if you can assist us in responding to
the CPUC.

Thanks, Mike Day

-----Original Message-----
From: Jess Hewitt [mailto:jhewitt@enron.com]
Sent: Tuesday, February 27, 2001 3:58 PM
To: MDay@GMSSR.com
Subject: CPUC inquiry re gas customer turnbacks

Mike,

My name is Jess Hewitt and I am in charge of the gas desk at EES.  I came in
late on this email string so can you give me a background on this situation?

jess
---------------------- Forwarded by Jess Hewitt/HOU/EES on 02/27/2001 05:56
PM
---------------------------

From: Harry Kingerski@ENRON on 02/27/2001 05:50 PM

To:   Jess Hewitt/HOU/EES@EES, Leslie Lawner/NA/Enron@Enron
cc:
Subject:  CPUC inquiry re gas customer turnbacks

any insights?  thanks.
----- Forwarded by Harry Kingerski/NA/Enron on 02/27/2001 05:49 PM -----
|--------+----------------------->
|        |          Jeff Dasovich|
|        |          Sent by: Jeff|
|        |          Dasovich     |
|        |                       |
|        |                       |
|        |          02/27/2001   |
|        |          05:47 PM     |
|        |                       |
|--------+----------------------->

>---------------------------------------------------------------------------
-|
  |
|
  |      To:
|
  |      cc:
|
  |      Subject:
|

>---------------------------------------------------------------------------
-|

Catherine/Roger:

Here are some more details forwarded by our outside counsel.

Best,
Jeff
----- Forwarded by Jeff Dasovich/NA/Enron on 02/27/2001 05:44 PM -----
|--------+----------------------->
|        |          MBD          |
|        |          <MDay@GMSSR.c|
|        |          om>          |
|        |                       |
|        |          02/27/2001   |
|        |          05:25 PM     |
|        |                       |
|--------+----------------------->

>---------------------------------------------------------------------------
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  |      To:
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>---------------------------------------------------------------------------
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Jeff:

Here is some more useful information.  Sarita Sarvate of the CPUC spoke to
the woman in person.  The school in question is the Providence High School
in Burbank, California (not Ontario), operated by the Sisters of Providence.
Ms. Kathy Pentalio (sp?) at 818-846-8140 wrote to the CPUC asking about the
school's options after receiving phone and letter notification that their
gas service would be terminated by Enron.  Apparently the Sisters also
operate a hospital which is also served by Enron.  Ms. Pentalio indicated
that she was told that the school would no longer be served on the same
contract as the hospital (claimed to be an attractive 86 cents/th rate)
because the school's load was so small that it was a core customer, while
the hospital was a noncore customer with a larger load.   Neither Ms.
Sarvate nor Ms. Pentalio was clear if the school was served as a core
aggregation customer or as part of the Sisters of Providence noncore
contract.  Ms. Pentalio claimed she spoke with Enron employees Dennis Harris
in Dublin, Ohio as well as Roger Pons in New Mexico.  She indicated that
service would be terminated on June 1, 2001 and she is looking for
alternative sources of gas.

Sarita Sarvate of the CPUC Energy Division would like to understand the
specifics of this case, but her main concern, and the purpose for sending a
letter (if she does send one) is that Dynergy has told her that a number of
small noncore businesses are being returned to the utilities by marketers
because they no longer meet credit requirements.  She assumed that must be
true with Enron as well.  I indicated to her that she should never assume
that we are doing what Dynegy is doing and that we would respond and advise
her if there was any significant trend of noncore customer turnbacks.  The
Commission's concern, which I know you understand, is that it is phasing out
the core subscription schedule (and has a moratorium on switches to the
SoCalGas core subscription schedule) therefore leaving no place for such
customers to go if they cannot contract with a replacement aggregator.

Please advise me of what you discover about this matter and we can talk
further about a response to the CPUC.   Thank you.

Mike Day


Lucy,

 I want to speak to Wade myself.  He can call me at work or home. Or if you
email me his number I will call him.
 I would like Gary to direct Wade on renovation tasks and you can give him
work orders for normal maintenance.

 I will call you tomorrow to discuss items from the office.  Do you need Mary
to come in on any more Fridays?  I think I
 can guess your answer.

 I might stop by this Friday.

Phillip


Dear Market Participants:

An error has been discovered in the instructions issued on 5/7/01 to reconcile
customer invoices.  You will need to use V-4 NOT V-5 when calculating the net
payment for December 8th.

Regards,

Market Relations
518-356-6060
---------------------- Forwarded by Market Relations/NYISO on 05/09/2001 04:28
PM ---------------------------

rbowers@nyiso.com on 05/07/2001 04:10:19 PM

Please respond to market_relations@nyiso.com

To:
cc:   recipient list not shown: ; (bcc: Market Relations/NYISO)

Subject:  April 2001, December 2000 4-month, & October 6-month Invoice
      Banking Instructions

The NYISO will be posting invoices for the April 2001 initial invoice,
October, 2000 6-month settlement adjustment, and December, 2000 4-month
settlement adjustment by 2300 May 7, 2001.

Funds due the NYISO for April 2001 settlements are to be transferred into
the NYISO Clearing Account by close of business Wednesday, May 16, 2001. Funds
due the NYISO for the December 2000 4-month settlement adjustment are to be
transferred into the NYISO Clearing Account by close of business Thursday,
May 17, 2001. Funds due the NYISO for the October 2000 6-month settlement
adjustment are to be transferred into the NYISO Clearing Account by close of
business Friday, May 18, 2001.

Funds due Market Participants from the NYISO for April 2001 settlements will
be
transferred into Market Participant accounts by close of business Monday,
May 21, 2001. Funds due Market Participants from the NYISO for the December
4-month settlement adjustment will be transferred into Market Participant
accounts
by close of business Tuesday, May 22, 2001. Funds due Market Participants from
the
NYISO for the October 6-month settlement adjustment will be transferred into
Market
Participant accounts by close of business Wednesday, May 23, 2001.

Please be aware that as per the ISO Services Tariff any disputed amounts are
to
be paid in full.  Upon resolution of the dispute, if it is determined that an
overpayment has been made by the Customer, a refund, with interest, will be
made
by the ISO

Attached please find banking instructions for the transfer of funds resulting
for these settlements.

In order to reconcile customer invoices for the December 2000 3-month
settlement
adjustment, it will be necessary to net the following versions of the daily
advisory statements:

Date Current             Previous
1    V-4       minus          V-3
2    V-4       minus          V-3
3    V-4       minus          V-3
4    V-4       minus          V-3
5    V-4       minus          V-3
6    V-4       minus          V-3
7    V-4       minus          V-3
8    V-5       minus          V-3
9    V-4       minus          V-3
10   V-4       minus          V-3
11   V-4       minus          V-3
12   V-4       minus          V-3
13   V-4       minus          V-3
14   V-4       minus          V-3
15   V-4       minus          V-3
16   V-4       minus          V-3
17   V-3       minus          V-2
18   V-3       minus          V-2
19   V-3       minus          V-2
20   V-3       minus          V-2
21   V-3       minus          V-2
22   V-3       minus          V-2
23   V-3       minus          V-2
24   V-3       minus          V-2
25   V-3       minus          V-2
26   V-3       minus          V-2
27   V-3       minus          V-2
28   V-3       minus          V-2
29   V-3       minus          V-2
30   V-4       minus          V-3
31   V-3       minus          V-2

In order to reconcile customer invoices for the October 2000 6-month
settlement
adjustment, it will be necessary to net the following versions of the daily
advisory statements:

Date Current             Previous
1    V-7       minus          V-5
2    V-7       minus          V-5
3    V-7       minus          V-5
4    V-7       minus          V-5
5    V-8       minus          V-6
6    V-8       minus          V-6
7    V-8       minus          V-6
8    V-7       minus          V-5
9    V-7       minus          V-5
10   V-7       minus          V-5
11   V-6       minus          V-4
12   V-6       minus          V-4
13   V-7       minus          V-5
14   V-7       minus          V-5
15   V-7       minus          V-5
16   V-7       minus          V-5
17   V-6       minus          V-4
18   V-6       minus          V-4
19   V-6       minus          V-4
20   V-7       minus          V-5
21   V-6       minus          V-4
22   V-6       minus          V-4
23   V-6       minus          V-4
24   V-6       minus          V-4
25   V-6       minus          V-4
26   V-6       minus          V-4
27   V-6       minus          V-4
28   V-6       minus          V-4
29   V-7       minus          V-5
30   V-6       minus          V-4
31   V-6       minus          V-4

In addition to adjustments to billing units due to the receipt of billing
quality
metering data, this settlement adjustment includes the following billing code
modifications/corrections:

   Billing code was modified to model scheduling & dispatch of grouped
   generators
   for settlement of energy & bid production cost guarantee payments.
   Generators
   affected by this modification should see proper payment of those
quantities.
   Any
   costs incurred by the NYISO will be recovered from transmission customers
   through
   their OATT Schedule 1 residual & BPCG adjustments
   For the December settlement adjustment, billing code was modified to ensure
   that
   appropriate prices corrections resulting from ECA-B were captured in the
   billing.
   This may impact transmission customers whose transactions were subject to
   ECA-B
   treatment, resulting in transmission usage charge adjustments.  Any costs
   incurred
   by the NYISO will be recovered from transmission customers through their
OATT
   Schedule 1 residual adjustment.
   For the December settlement adjustment, a number of grandfathered rights &
   TCC
   configurations were corrected.  Customers affected by this would see either
   their
   TCC's converted back to grandfathered rights, or vice versa.  Any excess or
   deficiency
   in cost recovery will be balanced with the Transmission Owners, based upon
   their
   respective megawatt-mile coefficients.
   There was a code modification to allow for Class 2 PURPA generators to sell
   all
   over-generation to the real-time market.  This would result in payment to
   those
   affected suppliers.    Any costs incurred by the NYISO will be recovered
from
   transmission customers through their OATT Schedule 1 residual adjustment.

(See attached file: April_Banking_Instructions.PDF)

 - April_Banking_Instructions.PDF


Before we can sell the units need to be registered.

-----Original Message-----
From: Howard, Kevin A.
Sent: Monday, November 19, 2001 4:57 PM
To: Mckean, George
Cc: Hayslett, Rod
Subject: RE: FW: Northern Border Partners Common Units

I mentioned to Stan and Rod that we go forward with this.  I agree, cash is cash.

-----Original Message-----
From: Mckean, George
Sent: Monday, November 19, 2001 4:55 PM
To: Howard, Kevin A.
Subject: Re: FW: Northern Border Partners Common Units

No update yet

We expect to hear something on tues in regard to the extension of 2 weeks but will probably not know about the final fix until the 2nd week of dec

Why would we not sell the units even if the proceeds are trapped in rawhide as it would allow us to pay down debt ?

I agree that we do not want to announce anything publically until we understand where we are as it could hurt our bargaining position
George Mckean


We failed over to #2 server but we are still experiencing slowdowns with Unify.  IT is looking at two options to hopefully rectify the slow downs.  I'll keep you posted.

Tammy Lee-Jaquet
713-853-5375
tammy.jaquet@enron.com


Nie , jestem jedynym Polakiem urodzonym w Polsce.
Prosze zadzwonic do mnie (713) 853 3848.

Vince

Julius Zajda
11/30/2000 04:29 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Dzien dobry!

Szanowny Panie,

Przepraszam, ze zabieram Panu pare sekund na lekture tego listu. Wlasnie
zostalem przeniesiony do Houston i panskie imie czesto sie pojawia na
tutejszych ustach. Chetnie bym sie spotkal i porozmawial, ale jestem swiadom
cennosci Panskiego czasu. Czy sa jeszcze jacys inni Polacy (osoby polskiego
pochodzenia) w Enron NA?

Pozdrawiam

Juliusz


Enron Freight Markets Corp. has withdrawn its authorization in the following state(s) on the date(s) given:

			Georgia		May 29, 2001
			Virginia		May 18, 2001

Please circulate this information to all interested parties within your group.

PLEASE NOTE:
Sarah Bruck McDonald - copy of evidence being sent by interoffice mail
Amy Jon (tax) - copy of evidence being sent by interoffice mail
Sylvia Hu - original certificates delivered by messenger

Lillian R. Bailey
Administrator
Corporate Services
EB4804A
Phone 713/853-3577
Fax 713/646-8007
lillian.bailey@enron.com


The request has been completed with all resources requested either completed
or rejected. You can view the details of the  request by clicking
http://itcapps.corp.enron.com/srrs/auth/emailLink.asp?ID=000000000034938&Page=
MyReq.


Done.

Errol


Lisa,
Thanks.  It was a great trip and one that will help lead to a lot of future
benefits.  Thanks again for the ticket as well.
miie


Start Date: 4/11/01; HourAhead hour: 2;  No ancillary schedules awarded.
Variances detected.
Variances detected in Generation schedule.
Variances detected in Energy Import/Export schedule.
Variances detected in Load schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001041102.txt

---- Generation Schedule ----
$$$ Variance found in table tblGEN_SCHEDULE.
     Details: (Hour: 2 / Preferred:  33.87 / Final:  20.00)
  TRANS_TYPE: FINAL
  SC_ID: TOSCO
  MKT_TYPE: 2
  TRANS_DATE: 4/11/01
  UNIT_ID: UNCHEM_1_UNIT
$$$ Variance found in table tblGEN_SCHEDULE.
     Details: (Hour: 2 / Preferred:  41.40 / Final:  41.37)
  TRANS_TYPE: FINAL
  SC_ID: DELANO
  MKT_TYPE: 2
  TRANS_DATE: 4/11/01
  UNIT_ID: PANDOL_6_UNIT

---- Energy Import/Export Schedule ----
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 2 / Preferred:  47.00 / Final:  46.99)
  TRANS_TYPE: FINAL
  SC_ID: ECTstSW
  MKT_TYPE: 2
  TRANS_DATE: 4/11/01
  TIE_POINT: MEAD_2_WALC
  INTERCHG_ID: EPMI_CISO_8000
  ENGY_TYPE: WHEEL
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 2 / Preferred:   8.00 / Final:   7.99)
  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 4/11/01
  TIE_POINT: PVERDE_5_DEVERS
  INTERCHG_ID: EPMI_CISO_BUNNY
  ENGY_TYPE: WHEEL

---- Load Schedule ----
$$$ Variance found in table tblLoads.
     Details: (Hour: 2 / Preferred:   0.43 / Final:   0.29)
  TRANS_TYPE: FINAL
  LOAD_ID: PGE1
  MKT_TYPE: 2
  TRANS_DATE: 4/11/01
  SC_ID: EPMI
$$$ Variance found in table tblLoads.
     Details: (Hour: 2 / Preferred:   4.69 / Final:   3.32)
  TRANS_TYPE: FINAL
  LOAD_ID: PGE2
  MKT_TYPE: 2
  TRANS_DATE: 4/11/01
  SC_ID: EPMI
$$$ Variance found in table tblLoads.
     Details: (Hour: 2 / Preferred:  42.88 / Final:  30.55)
  TRANS_TYPE: FINAL
  LOAD_ID: PGE3
  MKT_TYPE: 2
  TRANS_DATE: 4/11/01
  SC_ID: EPMI