Energy Market Report
Thursday, January 17, 2002

*See attached pdf file.
__________________________________________________________
Western Pre-Scheduled Firm Electricity Prices($/MWh)
January 17, 2002 for January 19, 2002

Peak(Heavy)
                   Low       Change     High      Change
NW/N. Rockies     18.00      -2.00     19.00      -3.75
Mid-Columbia      18.00      -2.00     19.00      -3.75
COB               21.00      -2.75     22.00      -3.25
N. California     22.50      -4.25     25.25      -5.25
Midway/Sylmar       NA         NA        NA         NA
S. California     22.75      -5.25     25.75      -4.25
Mead              23.50      -4.25     26.00      -4.00
Palo Verde        22.50      -3.50     26.00      -4.50
Inland SW         22.50      -3.50     26.00      -4.50
4-Corners         22.75      -3.25     24.50      -4.50
Central Rockies   21.50      -4.50     23.50      -4.00
__________________________________________________________
Off-Peak(Light)
                   Low      Change     High     Change
NW/N. Rockies     17.00      0.00     18.00      0.25
Mid-Columbia      17.00      0.00     18.00      0.25
COB               17.00     -0.50     19.00      1.00
N. California     18.00     -1.00     19.25     -0.25
Midway/Sylmar       NA        NA        NA        NA
S. California     18.50      0.50     20.00      0.25
Mead              18.75      0.75     19.75      0.25
Palo Verde        17.00      1.00     21.00      1.50
Inland SW         17.00      1.00     21.00      1.50
4-Corners         16.50      0.25     18.00      0.50
Central Rockies   16.00      0.25     18.00      0.50

__________________________________________________________
Western Pre-Scheduled Firm Electricity Prices($/MWh)
January 17, 2002 for January 20, 2002

Peak(Heavy)
                   Low       Change**   High     Change**
NW/N. Rockies*     17.00      0.00     18.00      0.25
Mid-Columbia*      17.00      0.00     18.00      0.25
COB*               17.00     -0.50     19.00      1.00
N. California*     18.00     -1.00     19.25     -0.25
Midway/Sylmar*       NA        NA        NA        NA
S. California*     18.50      0.50     20.00      0.25
Mead*              18.75      0.75     19.75      0.25
Palo Verde*        17.00      1.00     21.00      1.50
Inland SW*         17.00      1.00     21.00      1.50
4-Corners*         16.50      0.25     18.00      0.50
Central Rockies*   16.00      0.25     18.00      0.50
__________________________________________________________
Off-Peak(Light)
                   Low       Change**   High     Change**
NW/N. Rockies*     17.00      0.00     18.00      0.25
Mid-Columbia*      17.00      0.00     18.00      0.25
COB*               17.00     -0.50     19.00      1.00
N. California*     18.00     -1.00     19.25     -0.25
Midway/Sylmar*       NA        NA        NA        NA
S. California*     18.50      0.50     20.00      0.25
Mead*              18.75      0.75     19.75      0.25
Palo Verde*        17.00      1.00     21.00      1.50
Inland SW*         17.00      1.00     21.00      1.50
4-Corners*         16.50      0.25     18.00      0.50
Central Rockies*   16.00      0.25     18.00      0.50

*Denotes trading of flat, 24-hour products.
**"NA" changes are not applicable because prices for on and off peak goods
are not comparable to flat products.
__________________________________________________________
Accounting Regulations

Western peak power prices dropped for Saturday delivery amid waning weekend
loads, while light load prices were mostly higher due to the inclusion of
the all-day Sunday piece.  A Monday/Tuesday package will be scheduled on
Friday so WSCC traders can take off Martin Luther King Day on Monday.  While
MLK Day is not a recognized NERC holiday, it is a national holiday and a
NYMEX Exchange holiday.  NYMEX Henry Hub gas futures fell Thursday despite a
firmer physical market, reportedly due to bearish fundamentals and some
technical selling.  February and March Hub gas both closed at 2.254$/mmBtu,
down 14 cents and 10.9 cents, respectively.  In the political arena, White
House Spokesperson Ari Fleischer finally admitted Enron executives did meet
with President Bush and other Administration officials during the drafting
of their energy policy, but insisted that the company did not receive any
favorable treatment.  The letter to Ken Lay from Enron executive Sherron
Watkins has raised the possibility that the beleaguered company may be
forced to write-off an additional $1.3 billion in reported earnings.  The
cash in question was generated by financial subsidiaries Condor and Raptor,
which were wholly backed by Enron stock. In the wake of Andersen's auditing
debacle, SEC Chairman Harvey Pitt said he intends to form a new committee
responsible for oversight and regulation of the accounting industry.  In the
"too little, too late" category, Enron's Board of Directors voted Thursday
to fire Andersen as the company's auditors.  No word yet on who the lucky
new accountants will be.

Heavy load energy costs in the Northwest fell by as much as 3.75$/MWh for
Saturday delivery, while trading in a tight range between 18 and 19$/MWh.
Light load goods, however, were flat to slightly higher, with confirmed
transactions between 17 and 18.  Some traders seemed a little surprised by
the very narrow spread between light and heavy load prices, but as one
trader pointed out, "It's cold up here, especially for the off peak hours,
and throw in the all-day Sunday and it's no wonder why the spreads are
merging."  There was also talk Thursday that some parties were concerned
over falling snowpack levels in the Northwest.  According to the NWRFC's
January mid-month water supply forecast, April through September runoff at
The Dalles fell to 91% of normal, down from 93% of normal on the previous
report.  Nonetheless, the report suggested the Pacific Northwest is still
likely to have much healthier water levels in 2002 than last year.  2001 was
one of the region's driest winters ever, and the January mid-month report
for that year showed April through September flows at The Dalles were only
expected to be 68% of normal.  Additionally snow-pillow data for the
Columbia Basin in Canada showed that snowpack levels are holding at
above-normal levels.  Current flow forecasts for Chief Joseph were also
holding their ground, coming in at 100 kcfs Friday, 65 kcfs Saturday, 55
kcfs Sunday, and 100 kcfs next Monday through Thursday.

Peak electricity prices fell while off-peak prices stayed steady in the
Golden State on Thursday, mainly on the usual lighter loads for a weekend
package.  "More heating demand from the colder weekend weather forecast also
kept light load up, and there was some generation back today, cutting into
heavy load prices" said one California trader.  In political news, U.S.
Bankruptcy Court Judge Dennis Montali ruled on Thursday that he would allow
the CPUC to present arguments supporting why they should participate in the
PG&E reorganization process.  The CPUC will have until February 13 to
present their case in support of the plan they favor.  In San Francisco
Superior Court, the California Attorney General requested that Enron be held
in contempt for not turning over documents in the state's case alleging
price gouging by energy companies during last year's energy crisis.  On the
generation front, gas-fired Alamitos #3 (320 MW) returned to service on
Thursday, while sister unit #5 (480 MW) was operating at 290 MW.  Northern
hydro Big Creek Project (1,020 MW) was producing at 68% capacity, derated by
330 MW compared to just 50 MW on Wednesday.  Finally, Morro Bay #3 (337 MW)
powered up to 185 MW on its way back from a planned maintenance outage that
began January 4.  Temperatures were expected to linger below normal through
Monday of the new week.  Highs were predicted to reach the 50s at mid-state
and the low-60s at southern load centers, with corresponding lows
anticipated in the 30s and 40s, respectively.  The latest six-to-ten called
for continued below-normal conditions from January 23 to 27.

Lower weekend loads helped to depress peak power prices in the Southwest on
Thursday.  Heavy load energy costs at Palo Verde fell by as much as
4.5$/MWh, while light load goods rose by an average of 1.25$/MWh.  Off-peak
power at PV traded between 17 and 21$/MWh, with most deals going through
from 17 to 19$/MWh.  There was little to report in the way of unit news in
the desert region on Thursday.  There was some talk of a transformer check
being conducted at Palo Verde #3 (1,270 MW), but output at the nuke was
unaffected.  According to Weather Derivatives, heating demand in the
Southwest was forecast to average 113% of normal through January 24, while
the latest six-to-ten from the NWS was calling for below-normal temperatures
in Arizona and normal temperatures in New Mexico from January 23 through 27.

Patrick O'Neill and Jessie Norris
_________________________________________________________

Western Generating Unit Outages

Current                            Begins          Ends          Reason
CAISO units <250/6361 total          NA             NA
planned/unplanned*
Big Creek Project/1020/hydro      17-Jan-02         ?        @690 MW,
planned*
Colstrip #3/700/coal              11-Jan-02     20-Jan-02        repairs
Colstrip #4/700/coal              15-Jan-02     20-Jan-02        tube leak
Diablo Canyon #2/1087/nuclear     15-Jan-02     20-Jan-02   @50%,
maintenance
El Segundo #3/337/gas             16-Jan-02         ?            unplanned*
Encina #4/303/gas                 12-Jan-02         ?            unplanned
Four Corners #5                   09-Jan-02     14-Mar-02        maintenance
Grand Coulee #19/600/hydro        10-Dec-01       March          repairs
Haynes #6/341/gas                 07-Jan-02         ?            planned
Helms PGP #2/407/hydro            01-Oct-01         ?            planned
Hyatt/Thermalito/933/hydro        02-Oct-01         ?      @506 MW,
unplanned
Moss Landing #6/739/gas           11-Jan-02         ?           unplanned
Moss Landing #7/739/gas           29-Dec-01         ?            planned
Naughton #3/330/gas               13-Jan-02     18-Jan-02        tube leak
Ormond Beach #1/725/gas           28-Dec-01         ?            planned
Ormond Beach #2/750/gas           05-Oct-01         ?      @350 MW,
unplanned
Pittsburg #6/317/gas              22-Nov-01         ?            planned
Pittsburg #7/682/gas              16-Jan-02         ?           unplanned
Redondo #8/480/gas                09-Dec-01         ?            planned

For unit owners refer to pdf version.
*Indicates a change from previous EMR.
______________________________________________________________________

Eastern Markets Pre-Scheduled Firm Power Prices ($/MWh)

January 17, 2002 for January 18, 2002

Peak (Heavy) in $/MWh
                 Low     Change   High      Change
Into Cinergy    21.30     3.50    22.85     -0.70
Western PJM     22.65    -0.45    23.80      0.20
Into Entergy    19.50     0.50    22.50      0.50
Into TVA        21.00     1.00    22.50      0.25
___________________________________________________________
Despite a slump in natural gas values, cooler forecasts for Friday pushed
peak power prices mostly higher on Thursday across the Eastern Interconnect.
"NYMEX opened lower, promptly taking the wind out of the sails of forwards
trading," said one Midwestern power dealer.  NYMEX Henry Hub natural gas
futures softened on Thursday, with the February contract down 14 cents to
close at 2.254$/mmBtu.  March lost 10.9 cents to also end at 2.254$/MWh

Peak power prices gained a whopping 20 cents on Thursday in the Mid-Atlantic
due to little change in the weather or generation landscape.  Western PJM
goods for Friday delivery changed hands between 22.65 and 23.8$/MWh.
Traders said February edged up about a dime, with deals done around 24.9 to
24.95$/MWh.  After the usual early morning surge and a few bumps in the late
morning, LMPs averaged 20.34$/MWh through 16:00 EST.  Forecasts for Friday
called for highs in the low-40s and lows near freezing.  Little change was
predicted through Monday, and the latest six-to-ten from the NWS called for
above-normal temperatures from January 23 to 27.

Spot electricity prices edged up on Thursday in the Midwest on a day
characterized by high volatility, fluctuating gas values, and uncertainty
about weather forecasts.  "There were some big players pushing Cinergy
prices around today, and the near-term tanked, so I'm not too excited about
the perceived strength in the dailies," commented one discouraged trader.
Into Cinergy pieces for Friday delivery were bought and sold between 21.3
and 22.85$/MWh, with prices falling lower as the day progressed.  The
February contract opened near 23$/MWh, settled to 22.2$/MWh just before
NYMEX opened, and was trading between 21.25 and 21.4$/MWh by early
afternoon, according to sources.  In unit news, LaSalle (1,144 MW) was in
cold shutdown Thursday, and expected to be off-line through mid-February for
a refueling outage.  Friday temperatures were expected to be lower, with
highs forecast in the low to mid-30s and lows in the mid-20s.  The most
current six-to-ten called for above-normal temperatures from January 23 to
27.

As natural gas values on Thursday lost most of the gains posted on Wednesday
and other fundamentals remained mostly unchanged, heavy load energy costs
stayed steady in the Southeast.  Into Entergy goods traded between 19.5 and
22.5$/MWh, with the bulk of deals heard from 20.5 to 21.25$/MWh.  Traders
said February deals were going through at around 20$/MWh.  Into TVA
day-ahead pieces saw action from 21 to 22.5$/MWh.  The mercury was expected
to slip about four degrees on Friday in SERC, with high temperatures
settling in the low-50s.  The forecast looked steady there through Monday,
and the latest six-to-ten predicted above-normal temperatures from January
23 to 27.
___________________________________________________________

California ISO Congestion Index in $/MWh

                         Path                 Peak   Off-peak
for 18-Jan-02         NW1 to NP15             0.00     0.00
                      NW3 to SP15             0.00     0.00
                      AZ3 to SP15             0.00     0.00
                      LC1 to SP15             0.00     0.00
                      SP15 to NP15            0.00     0.00

OTC Forward Peak Electricity Contracts in $/MWh

                    Mid-C              PV              SP-15
                Bid      Ask      Bid      Ask      Bid      Ask
BOM            19.00    20.00    24.00    25.00    24.25    25.25
February       19.00    20.50    23.00    24.00    24.25    25.25
March          17.00    18.50    22.75    23.75    23.50    24.50
April          17.50    19.00    23.50    24.50      NA       NA
Q2 '02         17.25    18.75    25.50    26.50    25.50    26.50
Q3 '02         30.75    32.25    39.25    40.25    38.25    39.25
Q4 '02         26.50    28.00    26.50    27.50    28.25    29.25
Q1 '03         26.50    28.00      NA       NA       NA       NA
Cal '03        27.50    29.00    30.75    31.75    32.25    33.25

Represents the most recent bid/ask spread obtainable
by the Energy Market Report.

Alberta Power Pool Index (C$/MWh)

                    Peak(14)   Peak(16)   Off-Peak    Flat     Change
for  16-Jan-02       32.05      31.49      13.28      26.01    -10.94

BPA's Offer for 01/21/02 and 01/22/02.

Hours        Amount          NW delivered        COB/NOB delivered
7-22         200MW           Market Price*          Market Price*
1-6, 23-24   200MW           Market Price*          Market Price*

*Market price will be determined at time of request.

NYMEX Henry Hub Gas Futures in $/mmBtu

                 Close        Change
        Feb      2.254        -0.140
        Mar      2.254        -0.109

Natural Gas Spot Prices in $/mmBtu

                  Low          High
Sumas             2.17         2.22
So. Cal Border    2.32         2.37
San Juan          2.18         2.23
__________________________________________________________

Economic Insight, Inc. - 3004 SW First, Portland, Oregon 97201,
Telephone (503) 222-2425, Internet e-mail emr@econ.com -
Copyright, Economic Insight, Inc. 2002.


Ontario should open power market
National Post 04/05/01

California lawmakers want windfall profits tax on energy companies
Houston Chronicle, 04/05/01

SURVEY - SITE FEED - WORLD PULP AND PAPER: Online trading gets the cold
shoulder The industry seems to be taking a cautious attitude towards the web
Financial Times; Apr 5, 2001

COMPANIES & FINANCE UK: BG to get Pounds 51m from Enron NEWS DIGEST
Financial Times; Apr 5, 2001

COMPANIES & FINANCE THE AMERICAS: Duke outlines its Dollars 1bn Europe plan
Financial Times; Apr 5, 2001

UK: UPDATE 1-Britain gears up for offshore wind power.
Reuters English News Service, 04/05/01

INDIA: Enron issues arbitration notice to India govt.
Reuters English News Service, 04/05/01

FDI proposals worth Rs 545 crore cleared
The Economic Times, 04/05/01

Law Lords order Enron to pay pounds 100m over pipeline
The Daily Telegraph, 04/05/01

Merger Increases Value of King of Prussia, Pa., Video-Conferencing Company
KRTBN Knight-Ridder Tribune Business News: The Philadelphia Inquirer -
Pennsylvania, 04/05/01

Bandwidth Mkt: Price Adjustments Fail To Spur Action
Dow Jones Energy Service, 04/04/01

Financial Post: Editorial
Ontario should open power market
Kenneth L. Lay
National Post

04/05/2001
National Post
National
C19
(c) National Post 2001. All Rights Reserved.

In the face of the California crisis, it is all the more important for
legislators and policymakers -- and for the public generally -- to remember
why a competitive market structure is so important for electricity consumers.
The time is right to leave behind the central planning, socialized risk
structure that resulted in the billions of dollars of stranded costs and
stranded debt left to consumers in many regions of North America (not just
Ontario) by poor management, bad planning and enormous cost overruns. That
can't happen again, and will not happen again in a competitive open market.
In a restructured and competitive electricity market, the risk and cost of
new investment in generation will be borne by investors and shareholders
rather than by ratepayers. This protects consumers from bearing the cost of
bad decisions.
Last week, the government and Ontario Power Generation (OPG) announced an end
to the freeze of Ontario's bulk power rates that has been in place for about
eight years. That will represent an increase of 12% to 15% in bulk power
rates. It was explained on the basis of the need to pay for the mistakes of
the past. At Enron, we cannot think of any other jurisdiction in North
America where a price freeze has been in place for that length of time.
In future, a competitive market can deliver lower prices than a regulated
structure can. This is borne out by the experience in Pennsylvania, England
and other European markets. Pennsylvania estimates that consumers have saved
US$3-billion over the past three years. In England's first year of customer
choice (June, 1999 -- June, 2000) consumers saved in excess of
(ps)299-million ($673-million). In Germany, industrial prices have fallen by
over 50% since 1995. In Finland, industrial prices have fallen over 23% since
1995.
Competition gives customers choice, which gives suppliers and retailers a
strong incentive to improve customer service, lower prices and develop
demand-side (load management) solutions.
This leaves the issue of timing for the opening of the market.
The Electricity Market Readiness Plan adopted by the Ontario Energy Board and
the Independent Market Operator targets the systems, processes and other
requirements of the wholesale and retail markets to be ready for a market
opening in October/November, 2001. This represents a realistic and achievable
approach to market opening.
We see real benefits to opening the market this fall, rather than waiting
until 2002. Major institutions are gearing up for a market opening later this
year, and the momentum is ours to lose. Indeed, many participants, including
large industrial customers, have already entered into the commercial
arrangements necessary for market opening and the post-market opening period
in the expectation of market opening later this year. Those commercial
arrangements with respect to power procurement, power supply, risk
management, and settlement and dispatch services have helped and are helping
industrial consumers lock in prices.
Opening the market in the fall will preserve those arrangements for which
parties have bargained, leaving just those consumers who have chosen to enter
the market unhedged, and giving them seven or eight months to experience the
operation of the market prior to the summer of 2002.
This was a key consideration in the decision to open the New York market in
November, 1999, rather than the spring of the following year. Remember that,
although Ontario's demand traditionally peaks in the winter, we would expect
prices to peak in the summer months. Moreover, because the summer is the
period of peak demand across the Eastern interconnect as a whole, the summer
months generally see relatively more operational/transmission related
constraints than the winter.
A fall opening will also enhance the efforts to "decontrol" or divest OPG
assets. Those entities which might have an interest in acquiring OPG assets
will, for valuation purposes, want to have as much information as possible
about pricing in the Ontario market. Opening in the fall will give those
entities a longer period of time over which to observe the way the
price-setting mechanisms in the Ontario market actually operate.
Accordingly, opening in the fall will help reduce uncertainty over the
valuation of Ontario Power Generation assets. This would mean that the
decontrol initiative will attract more potential buyers, and that those
buyers will pay more than they otherwise would in the face of uncertainty.
Focusing on getting the market open this fall will help maintain the
commitment of those, like Enron, who have already devoted significant
resources and capital to the market, while attracting more new players,
sooner, into the province.
The Ontario government should have confidence that the best way forward is to
proceed with the implementation of that plan and with the opening of the
Ontario wholesale and retail markets in the fall of 2001. The case for open
markets is strong.

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

April 5, 2001
Houston  Chronicle
California lawmakers want windfall profits tax on energy companies
Reuters News Service
SACRAMENTO, Calif. -- A coalition of California lawmakers Wednesday
introduced a bill that would slap a windfall profits tax on power generators
they claim have made a killing from the state's unfolding power crisis.
"This says to the large generators who are gouging us that we are going to
set a reasonable rate of return, and reasonable profits, and anything beyond
that would be returned to the state of California," said Assembly member Dion
Aroner.
"They've been gouging us, and it is time to gouge them. We're sick of paying
these outrageous bills to the Texans."
A spokesman for Gov. Gray Davis, who has been scrambling to address his
state's escalating energy emergency, said he would have no comment on the
bill until it reached his desk.
Aroner said the bill, proposed by a coalition of Democratic women, calls for
the state to establish a formula to determine "reasonable" profits for
generators and tax back anything over that amount.
Major power generators, many of them based in Texas, have reported sharply
higher earnings as wholesale power prices skyrocketed in the Western U.S.
spot market. Last year at this time, prices were $30 to $40 per megawatt hour
of electricity. This year, that same electricity costs between $300 and $400.
Those high prices, combined with a botched 1996 state deregulation effort
that kept caps on consumer rates, have pushed California's two largest
utilities close to bankruptcy, forced the state into the energy-buying
business and led to several days of rolling blackouts from San Diego to the
Oregon border.
Richard Wheatley, a spokesman for Houston-based Reliant Energy, said any
windfall profit tax was a terrible idea.
"We would oppose any such form of legislation," Wheatley said. "It does
nothing to solve the fundamental problem that confronts California consumers
-- namely, the lack of adequate power supplies."
Wheatley said the proposed tax also could exacerbate the situation by
removing incentives for power producers to build plants and bring more power
on line through investing in upgrades of aging facilities.
Enron Corp. and other power sellers continued to reap the benefits of
California's electricity shortage in the first quarter, with some bringing in
record profits, analysts said Wednesday.
Earnings at Houston-based Enron rose about 13 percent, analysts estimated.

		SURVEY - SITE FEED - WORLD PULP AND PAPER: Online trading gets the cold
shoulder The industry seems to be taking a cautious attitude towards the web
Financial Times; Apr 5, 2001
By NICHOLAS GEORGE

		World Pulp and Paper survey
		THE INTERNET by Nicholas George
		It has been billed as the marriage of the old and new economies, but, so far,
the union of the internet and the pulp and paper industry has been marked by
suspicion rather than harmony.
		Only 18 months ago, it seemed that newly-started dotcoms were stumbling over
each other to set up online marketplaces, which, they claimed, would
revolutionise the industry. Technologies and target groups differed slightly,
but the message being preached was largely the same.
		Buying and selling pulp and paper products had, for too long, been
characterised by inefficiencies and high costs.
		For an industry whose products have become global commodities, the internet
could give the flexibility and price transparency producers and consumers
deserve.
		Yet, far from embracing the new breed of online marketplaces, the paper
producers' reaction has ranged from caution to outright distrust.
		According to Jorma Saarikorpi, head of e-business at papermaker UPM-Kymmene,
neither customers nor producers have much to gain from third party
marketplaces. Moreover, the concept of an open marketplace is ill-suited to
the businesses' structure. "If you think about the customer relationships in
the industry, it is big suppliers and big customers and the number of
suppliers and customers are decreasing all the time," he says.
		Such scepticism has made it tough going for the dotcoms, and some of the
smaller projects, such as AccessPaper.com, have fallen by the wayside.
		AccessPaper blamed its failure on boom conditions in the industry, which
meant producers had no incentive to look for new sales channels.
		"We are not synchronised with the market or the players in the market," says
Michael Palm, a co-founder. "At present, the current sales channels are
screaming for products, and sales staff just do not want to hear of new
channels."
		But even the bigger and better funded start-ups have had to adapt to the
negative reaction of the industry. For example, the European-based PaperX.com
now focuses much less on its marketplace functions and more on its ability to
offer software solutions to forest product companies setting up their own
sites.
		Bengt Roselund, project leader of Papinet, the European industry's own
internet initiative, says the marketplaces "scared the producers away when
they said they wanted a commission of 2-3 per cent on each trade. That is an
enormous amount of money".
		He adds: "The marketplaces realised they had done the wrong thing, but the
damage was done and the industry does not trust them. That's a pity because
the marketplaces could have played a role."
		Papinet was set up to standardise the terms used in electronic trading
messages.
		Although it was started in Europe, it is now attempting to create a more
global standard. By doing so, it aims to cut the cost and complexity of
e-commerce. This is vital if e-commerce is to gain wide scale acceptance,
says Mr Roselund.
		In the US, the independent marketplace, PaperExchange, also has to compete
against industry-backed rivals. However, Bob Brenner, chief executive, is
convinced his company has a role. The problem, he believes, has been that the
industry has misunderstood what the internet marketplaces are for. They are
not an alternative for traditional long-term customer relationship, but a
channel for a certain type of product or inventory, he says.
		Mr Brenner points out that 10 per cent of pulp and paper sales are already
being conducted on the spot market, a market that is often expensive for
producers to use.
		PaperExchange, which has now launched in Europe, had trading levels of nearly
42,000 tonnes last year.
		"Twelve months ago, people were experimenting, while six months ago they were
using the site as a way to move extra product. Now, people are thinking of it
as a channel for selling, or as a part of their sourcing strategy," says Mr
Brenner.
		Other companies also see the advantages of an internet market. Enron, which
has been offering risk management products to the pulp, paper and wood
industry since 1997, expanded its Clickpaper.com site to Europe in January.
		So far, the industry has preferred to find its own solutions by modernising
its existing electronic links with customers. Outsiders, in the form of
third-party marketplaces, still have their work cut out to convince
management they really do have a big role to play.
		March 1 2001
		Copyright: The Financial Times Limited

		COMPANIES & FINANCE UK: BG to get Pounds 51m from Enron NEWS DIGEST
Financial Times; Apr 5, 2001
By DAVID BUCHAN

		BG to get Pounds 51m from Enron
		BG, the gas group, said yesterday it would receive Pounds 51m from Enron's
Teeside Gas subsidiary after the House of Lords ruled in its favour in a
dispute over unpaid gas transit fees and interest.
		The dispute centred on a 1990 contract by Teeside Gas to reserve capacity in
the Central Area Transmission System, owned 51 per cent by BG. In 1993 the
CATS pipeline was completed and Teeside Gas started making payments even
though it had no need for capacity at that time. In 1995 it stopped payments
and reclaimed past payments, at which the owners of CATS - chiefly BG, BP
Amoco and Amerada Hess - took it to court.
		The UK court of appeal ruled in Teeside's favour in 1999, but this was
yesterday overturned by the House of Lords. BG's share of the House of Lords
award will be Pounds 34m in back-payment, plus Pounds 17m in interest. David
Buchan
		Copyright: The Financial Times Limited

		COMPANIES & FINANCE THE AMERICAS: Duke outlines its Dollars 1bn Europe plan
Financial Times; Apr 5, 2001
By MATTHEW JONES

		Duke Energy, the US power and gas group, is aiming to spend up to Dollars 1bn
this year on European generation assets.
		The plans, outlined by the company yesterday, are part of a group-wide
strategy to move into deregulating energy markets. They mark a relatively
late entrance into Europe compared with other US energy companies such as
Enron.
		Bruce Williamson, president of Duke Energy International, said the group was
looking to secure between 1,000MW and 2,000MW of generation capacity to
underpin a large increase in its electricity trading. The company plans to do
this either by entering into long-term agreements with generators or by
buying flexible coal or gas-fired power stations.
		"Our aim is to spend between Dollars 500m and Dollars 1bn in Europe in the
next 12 months," he said.
		Duke is one of the largest US power generators and energy traders with assets
worth Dollars 58bn and a market capitalisation of Dollars 28bn.
		It currently trades natural gas in the UK, Belgium, Germany and the
Netherlands but only trades electricity in Italy.
		Mr Williamson said the group wanted to extend its power trading activities
across all five countries and was talking seriously to "between five and a
dozen" companies about generation plant deals.
		Its first move would be in the UK, where it would aim to secure at least
500MW by the middle of the year. Analysts cited TXU, Edison Mission Energy
and Innogy as possible sellers of plant.
		Duke is focusing the rest of its international expansion on Australia, New
Zealand and Brazil. The group is aiming to double its investment in these
countries in the next two to three years, representing a total spend of about
Dollars 3bn. www.ft.com/utilities
		Copyright: The Financial Times Limited

UK: UPDATE 1-Britain gears up for offshore wind power.
By Andrew Callus

04/05/2001
Reuters English News Service
(C) Reuters Limited 2001.

LONDON, April 5 (Reuters) - Britain cleared the way on Thursday for a 1.6
billion pound ($2.3 billion) offshore wind power investment, the first large
scale British attempt to tap the clean energy source.
Built around the windswept UK coastline, 540 sets of blades spinning more
than 100 metres above the waves should be supplying one percent of Britain's
energy needs by 2004-2005. The Crown Estate, manager of land and territorial
waters owned by Britain's Queen, said it was issuing seabed leases to 18
companies at 13 sites that will produce between 1,000 and 1,500 megawatts of
power altogether.
The set of projects goes one tenth of the way towards a government plan to
see 10 percent of the UK's energy needs produced from renewable sources by
2010, according to the British Wind Energy Association (BWEA), which
represents most of the businesses involved.
Offshore wind is more expensive to tap than onshore, but local resistance to
noise and to the sight of tall land-based turbines has made it an option
worth exploring.
The BWEA believes wind energy blowing across the seas around Britain could
supply its electricity needs three times over, and says wind power onshore
and offshore already competes effectively with alternatives at between 1.9
and 3.0 pence per kilowatt hour compared with 1.8-2.2 pence for gas.
"We don't need subsidies any more. We are price competitive," said a
spokeswoman for the BWEA.
The association already backs a pilot offshore wind project at Blyth on
England's northeast coast that began delivering electricity in December last
year.
Companies involved in the projects still have to obtain planning permission
from the government and other planning bodies, and must gain all consents
within three years or lose their lease.
But the UK Department of Trade and Industry aims to set up a "one-stop shop"
to help them through other planning hurdles. Developers include global energy
names like Enron and Royal Dutch/Shell , British power and construction
companies Powergen and AMEC , and smaller specialist companies.
In all, 540 high-tech windmills producing three megawatts of power each will
be installed in groups of 30, with the nearest turbine of each sited between
1.5 and 10 kilometres offshore.
More than half will be positioned in the Irish Sea along England's northwest
coast between Liverpool and the Scottish border.
Others will spring up on the east coast off East Anglia and in the mouth of
the Thames estuary, further north at Teesside, and in the coastal waters of
south Wales in the Severn estuary.
Environmental groups Greenpeace and Friends of the Earth backed the plan, but
urged the government to catch up with countries like Denmark, where the wind
industry already employs 14,000 people.
"After thirty years of opposing industrial abuse of our seas, Greenpeace can
at last welcome a move to exploit the fantastic renewable energy resources
off our coastline," said Matthew Spencer, head of Greenpeace's Climate
Campaign.
"Let's hope this signals a new commitment to developing Britain's renewable
energy industry," he said.

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

INDIA: Enron issues arbitration notice to India govt.

04/05/2001
Reuters English News Service
(C) Reuters Limited 2001.

BOMBAY, April 5 (Reuters) - The Indian unit of Enron Corp has issued a notice
of arbitration to the Indian government to try to recover 1.02 billion rupees
($21.88 million) it says is owed for supplying power to the Maharashtra State
Electricity Board (MSEB).
The notice means the dispute will be taken to the Court of Arbitration in
London.
MSEB wanted the power bill offset against a four billion rupee fine it levied
on Enron's controversial Dabhol Power Co for what it said was the non-supply
of power for intermittent periods between October and the end of January.
The Indian government asked the two companies to sort out the dispute before
it would consider covering any of the payment from central coffers.
Government officials could not be reached for comment.
"We strongly believe that the federal government's position is in direct
conflict with the power purchase agreement as was explained to them in legal
opinions," a Dabhol statement said.
"This step was necessary in order to preserve our rights in the project, and
to ensure that all parties honour their existing contractual obligations,"
Dabhol said.
The move heightens the confrontation between Enron and India and threatens to
further damage the country's efforts to attract foreign investment in the
power sector.
Dabhol's 2,184 megawatt power station is the biggest power investment in
India. Critics object to Dabhol charging 7.1 rupees per kilowatt hour for its
power versus 1.5 rupees charged by other suppliers.
Dabhol originally sought payment of the 1.02 billion rupees from the
government in March. The payment covered the supply of electricity during
December.
The payment was due from MSEB on January 25 and was the latest default from
the state electricity board.
Under a 1996 counter guarantee agreement, the federal government is obliged
to pay Enron when MSEB defaults.
Enron invoked the counter guarantee for the first time to cover payment of
790 million rupees for electricity supply in November. The amount was later
paid by the Maharashtra state government.
($=46.6 Indian rupees).

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

FDI proposals worth Rs 545 crore cleared
Our Bureau

04/05/2001
The Economic Times
Copyright (C) 2001 The Economic Times; Source: World Reporter (TM)

NEW DELHI
FORTY four FDI proposals involving a total inflow of Rs 545 crore, including
those of Eli Lilly Ranbaxy to buy out Ranbaxys holding of 50 per cent in the
joint venture, Abbott Equity Holding of the UK, General Electrical
International and Indian Infrastructure Equipments were cleared by Commerce
and Industry minister Murasoli Maran on Wednesday.
Eli Lilly will buy out Ranbaxys 50 per cent stake for Rs 79.9 crore and thus
convert the JV into 100 per cent subsidiary.
General Electric International has been permitted to set up a 100 per cent
subsidiary to venture into infrastructure and information technology enabled
services, telecommunications and internet. The company will invest Rs 47
crore in the project.
Abbot Equity Holding Ltd has been allowed to bring in Rs 106.27 crore to pick
up 20 per cent stake in project to manufacture pharmaceutical formulations.
Indian Infrastructure Equipments has been permitted to issue 49.8 per cent
equity stake worth Rs 24.91 crore and FCCBs worth Rs 97.29 crore.
Compaq Computer of Mauritius will bring in Rs 18.5 crore for 7.88 per cent
stake in an e-commerce venture.
Berjaya Vacation Club Berhad of Malaysia has been allowed to set up a 100 per
cent subsidiary with investment worth Rs 70.5 crore to operate hotels and
resorts, providing holiday accommodation and other tourism related services.
Enron GmbH of Germanys plan to enter the wind energy business with a 100 per
cent subsidiary involving investment of Rs 9.4 crore has also been cleared.
Astra Pharmaceuticals of Sweden has been allowed to increase holding in IDL
to 56.49 per cent from the existing level of 51.5 per cent. The Swedish
company will bring Rs 16.75 to acquire additional stake.
Other proposals cleared today include those of Schenectady (India) Holdings
to ease foreign holding in one project from 80 per cent to 94.97 per cent,
and in another from 58.37 per cent to 80.66 per cent, Blaser Swisslube of
Switzerland to set up 100 per cent subsidiary with investment of Rs 4.60
crore to import and distribute cutting fluids, and Danisco Ingredients
(India) to increase foreign equity to 100 per cent from the existing level of
74 per cent.
Danisco will buy out its Indian partners for Rs 10 crore.

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

Law Lords order Enron to pay pounds 100m over pipeline
Sophie Barker

04/05/2001
The Daily Telegraph
Copyright (C) 2001 The Daily Telegraph; Source: World Reporter (TM)

ENRON, the American oil company, was yesterday forced to pay out around
pounds 100m to the shareholders in a North Sea pipeline, led by BG, after the
House of Lords overturned a previous Court of Appeal decision over
transportation payments.
The dispute between Enron and shareholders in the Central Area Transmission
Systems (CATS) dates back to 1995, when Enron's Teesside Gas Transportation
subsidiary stopped payments to the pipeline, which transports gas from
central North Sea fields.
Enron's Teesside subsidiary had previously signed an agreement with the CATS
shareholders for certain pipeline transportation rights.
The CATS shareholders claimed payments were due once the pipeline was
completed, but Enron claimed that CATS was not available for use.
BG will receive around pounds 35m plus pounds 17m in interest, in line with
its 51.18pc stake in CATS.
BG declined to comment, while Enron expressed its "disappointment" but said
that the payment "would not materially impact earnings".

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

Merger Increases Value of King of Prussia, Pa., Video-Conferencing Company
Patricia Horn

04/05/2001
KRTBN Knight-Ridder Tribune Business News: The Philadelphia Inquirer -
Pennsylvania
Copyright (C) 2001 KRTBN Knight Ridder Tribune Business News; Source: World
Reporter (TM)

V-Span Inc., a King of Prussia provider of video-conferencing services, has
reached an agreement to acquire Peer Digital Inc., of Boulder, Colo., in a
merger that the companies say will position V-Span as one of the industry's
top companies.
The companies expect the merger to close in two weeks. The headquarters will
remain in King of Prussia.
The companies, both founded in 1995, declined to put a value on the
stock-for-stock deal but said the combined company would have annual revenues
of around $42 million. About two-thirds of that would come from V-Span, and
one-third from Peer Digital.
Elliot Gold, publisher of TeleSpan, a teleconferencing industry newsletter
that predicted the merger last month, estimated that V-Span paid $20 million
to $28 million for Peer Digital.
The merger will allow the combined company to become profitable more quickly,
J. Kenyon Hayward, V-Span's founder and chief executive officer, said.
Executives for the two companies, however, declined to predict when the
merged entity might gain profitability.
V-Span said it raised $28 million last year from investors including Goldman
Sachs & Co., Comcast Interactive Capital, Motorola Inc. and Enron Corp.
The merger positions V-Span as one of the largest five companies in the world
that sell video-conferencing from multiple locations, Gold said. The
industry, while still small at around $250 million in annual sales, is
growing by about 35 percent per year, he said.
"I think [Peer Digital] started looking at the competition and realized ...
they would be stronger" if they merged, Gold said. "Both were growing nicely,
but V-Span was growing faster."
Peer Digital had struggled in sales but has superior teleconferencing
infrastructure and technology, said Gold, while V-Span excelled at sales but
"was having a problem with the infrastructure."
The combined company would have about 325 employees. Executives would not
comment on whether consolidation would lead to layoffs.
"This is a growing business, and we expect to expand worldwide," said John D.
Field, Peer Digital's chief executive, who will become V-Span's president.
"We expect to see more offices added.
"We all believe this is a great consolidation of a major piece of the
industry," Field said. "And we intend to be one of the leaders in
consolidating this industry."
But Gold said V-Span could "end up on the other end of the Pac-Man battle."
"There is consolidation in the industry on a global basis ... and there are
several companies, such as Genesys Conferencing, that have been acquiring
companies like mad," he said. "I think there is a reasonable chance that
V-Span will be acquired over time. They are positioning themselves to be
acquired."

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

Bandwidth Mkt: Price Adjustments Fail To Spur Action

04/04/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

HOUSTON -(Dow Jones)- Bandwidth traders adjusted prices Wednesday trying to
spur trades but didn't get any results.
Prices moved higher for several contracts covering bandwidth this year in the
eastern half of the country. Lower prices were quoted for one route this year
in the western half of the country and for other contracts covering bandwidth
next year.
For OC3 bandwidth between Seattle and Los Angeles for calendar year 2002, the
bid was $.0015 a DS0 mile a month, down $.0005/DS0 mile/month from Tuesday's
price.
The offer on that contract moved higher for bandwidth delivered to Enron
Corp. (ENE) pooling points and lower for bandwidth delivered to LighTrade
pooling points, traders said.
The offer was $.003/DSO mile/month for delivery to Enron pooling points, up
$.0004/DS0 mile/month from Tuesday.
The offer for delivery to LighTrade Inc. pooling points fell to $.0021/DS0
mile/month, down $.0005/DSO mile/month from Tuesday.
The variations were based on differing views held by market-makers using the
pooling points.
One trader attributed the lack of buyers in the West to falling prices.
"Everybody thinks the price is going to go down and nobody wants to be long,"
he said.
Another trader agreed that prices are expected to fall, but rejected the idea
buyers fear being stuck with over-priced capacity.
In Eastern markets, prices generally rose Wednesday for contracts with
delivery dates this year. Those increases were seen in the New
York-Washington, D.C.; New York-Chicago and New York-Dallas markets.
Sellers are seeking higher prices because buyers are running out of time to
get deals done on contracts that include bandwidth for June. There's less
than two months left for provisioning circuits for June.
In most of those same markets, prices fell on contracts with delivery dates
in calendar year 2002.
The exception was the market for OC3 bandwidth for calendar year 2002 between
New York and Washington, D.C. The bid remained at $.0021/DS0 mile/month while
the offer moved to $.0047/DS0 mile/month, up $.0015/DS0 mile/month.
-By Michael Rieke, Dow Jones Newswires, 713-547-9207, michael.rieke@wsj.com
and Erwin Seba, Dow Jones Newswires, 713-547-9214 erwin.seba@dowjones.com

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


I still believe I am 7 &2 NOT 6 &3...  look at the week by week


The trailer is in pretty good condition per the officer and he thinks the
tires were okay.  It is 6' x 10'.  Linda is still going to take a picture of
it today at noon and I will bring it home tonight.


----- Forwarded by Jeff Dasovich/NA/Enron on 03/08/2001 12:18 PM -----

	"Katie Kaplan" <kaplan@iepa.com>
	03/08/2001 12:14 PM

		 To: "'Katie Kaplan'" <kaplan@iepa.com>, "'Andy Brown (E-mail)'"
<ABB@eslawfirm.com>, "'B Brown Andy (E-mail)'" <andybrwn@earthlink.net>,
"'Baker Carolyn (E-mail)'" <cabaker@duke-energy.com>, "'Bob Escalante
(E-mail)'" <rescalante@riobravo-gm.com>, "'Bob Weisenmiller (E-mail)'"
<rbw@mrwassoc.com>, "'Curtis Kebler (E-mail)'"
<curtis_l_kebler@reliantenergy.com>, "'Douglas Kerner (E-mail)'"
<DKK@eslawfirm.com>, "'Greg Blue (E-mail)'" <gtbl@dynegy.com>, "'Jan
Smutny-Jones (E-mail)'" <smutny@iepa.com>, "'Jean Munoz (E-mail)'"
<jmunoz@mcnallytemple.com>, "'Jeff Dasovich (E-mail)'"
<Jeff.Dasovich@enron.com>, "'Joe Ronan (E-mail)'" <joer@calpine.com>, "'John
Larrea (E-mail)'" <john.g.larrea@williams.com>, "'John Stout (E-mail)'"
<John_H_Stout@reliantenergy.com>, "'Julee Malinowski-Ball (E-mail)'"
<jmball@ns.net>, "'Kassandra Gough (E-mail)'" <kgough@calpine.com>, "'kent
Palmerton (E-mail)'" <kent.palmerton@williams.com>, "'Kristin Vellandi
(E-mail)'" <kvellandi@pstrategies.com>, "'Lynn Lednicky (E-mail)'"
<lale@dynegy.com>, "'Marty Wilson (E-mail)'" <mwilson@pstrategies.com>,
"'McNally Ray (E-mail)'" <rmcnally@mcnallytemple.com>, "''Nam Nguyen'
(E-mail)'" <nam.nguyen@powersrc.com>, "'Norton Kelli (E-mail)'"
<knorton@mcnallytemple.com>, "'Paula Hall-Collins (E-mail)'"
<paula.hall-collins@williams.com>, "'Pigott Jack (E-mail)'"
<jackp@calpine.com>, "'Richard Hyde (E-mail)'" <rwhyde@duke-energy.com>,
"'Rob Lamkin (E-mail)'" <rllamkin@seiworldwide.com>, "'Roger Pelote
(E-mail)'" <roger.pelote@williams.com>, "'Stephanie-Newell (E-mail)'"
<stephanie-newell@reliantenergy.com>, "'Sue Mara (E-mail)'"
<smara@enron.com>, "'Theo Pahos (E-mail)'" <tpahos@ppallc.com>, "'Tom Ross
(E-mail)'" <tross@mcnallytemple.com>
		 cc: "Carol H Hudson (E-mail)" <Chudson@iepa.com>, "Jan Smutny-Jones
(E-mail)" <smutny@iepa.com>, "Steven Kelly (E-mail)" <steven@iepa.com>,
<danielle.quan-hill@mirant.com>, "'Alex Sugaoka (E-mail)'"
<alex.sugaoka@uaecorp.com>, "'Bill Carlson (E-mail)'"
<william_carlson@wastemanagement.com>, "'Bill Woods (E-mail)'"
<billw@calpine.com>, "'Bob Ellery (E-mail)'" <bellery@spi-ind.com>, "'Bob
Gates (E-mail)'" <bob.gates@enron.com>, "'Cody Carter (E-mail)'"
<cody.carter@williams.com>, "'Curt Hatton (E-mail)'"
<Curt.Hatton@gen.pge.com>, "'David Parquet'" <david.parquet@enron.com>,
"'Dean Gosselin (E-mail)'" <dean_gosselin@fpl.com>, "'Doug Fernley (E-mail)'"
<fernley.doug@epenergy.com>, "'Duane Nelsen (E-mail)'"
<dnelsen@gwfpower.com>, "'Ed Tomeo (E-mail)'" <ed.tomeo@uaecorp.com>,
"'Eileen Koch (E-mail)'" <eileenk@calpine.com>, "'Eric Eisenman (E-mail)'"
<eric.eisenman@gen.pge.com>, "'Frank DeRosa (E-mail)'"
<frank.derosa@gen.pge.com>, "Frazier Blaylock (E-mail)"
<frazier_blaylock@ogden-energy.com>, "'Hap Boyd (E-mail)'"
<Hap_Boyd@enron.com>, "'Hawks Jack (E-mail)'" <jack.hawks@gen.pge.com>, "'Jim
Willey (E-mail)'" <elliottsa@earthlink.net>, "'Joe Greco (E-mail)'"
<jgreco@caithnessenergy.com>, "'Jonathan Weisgall (E-mail)'"
<jweisgall@aol.com>, "'Kate Castillo (E-mail)'" <CCastillo@riobravo-gm.com>,
"'Kelly Lloyd (E-mail)'" <kellyl@enxco.com>, "'Ken Hoffman (E-mail)'"
<khoffman@caithnessenergy.com>, "'Kent Fickett (E-mail)'"
<kfickett@usgen.com>, "'Lynn Lednicky (E-mail)'"
<lynn.a.lednicky@dynegy.com>, "'Marty McFadden (E-mail)'"
<marty_mcfadden@ogden-energy.com>, "'Paula Soos'"
<paula_soos@ogden-energy.com>, "'Randy Hickok (E-mail)'"
<rjhickok@duke-energy.com>, "Rick S. Koebbe (E-mail)"
<rskoebbe@powerworksinc.com>, "'Ross Ain (E-mail)'" <ain@worldnet.att.net>,
"'Steve Iliff'" <siliff@riobravo-gm.com>, "'Steve Ponder (E-mail)'"
<steve_ponder@fpl.com>, "'Tony Wetzel (E-mail)'" <twetzel@thermoecotek.com>,
"'William Hall (E-mail)'" <wfhall2@duke-energy.com>
		 Subject: RE: Public Affairs Committee

Here is the "kick-off" memo requested by the folks on the Public Affairs
call on Monday.  Please review the document an send me any comments.  Just a
reminder... we will hold a Public Affairs call on Monday March 12, 2001 at
1:00 PST to discuss this memo and other issues.
The call in number is:  1-800-486-2460
The Pass code is:  120895

As always, please let me know if you have any questions.
Thanks!

Katie Kaplan
Manager of State Policy Affairs
Independent Energy Producers Association
(916) 448-9499

-----Original Message-----
From: Katie Kaplan [mailto:kaplan@iepa.com]
Sent: Friday, March 02, 2001 5:08 PM
To: 'Andy Brown (E-mail)'; 'B Brown Andy (E-mail)'; 'Baker Carolyn
(E-mail)'; 'Bob Escalante (E-mail)'; 'Bob Weisenmiller (E-mail)'; 'Curtis
Kebler (E-mail)'; 'Douglas Kerner (E-mail)'; 'Greg Blue (E-mail)'; 'Jan
Smutny-Jones (E-mail)'; 'Jean Munoz (E-mail)'; 'Jeff Dasovich (E-mail)';
'Joe Ronan (E-mail)'; 'John Larrea (E-mail)'; 'John Stout (E-mail)'; 'Julee
Malinowski-Ball (E-mail)'; 'Kassandra Gough (E-mail)'; 'Katie Kaplan
(E-mail)'; 'kent Palmerton (E-mail)'; 'Kristin Vellandi (E-mail)'; 'Lynn
Lednicky (E-mail)'; 'Marty Wilson (E-mail)'; 'McNally Ray (E-mail)'; ''Nam
Nguyen' (E-mail)'; 'Norton Kelli (E-mail)'; 'Paula Hall-Collins (E-mail)';
'Pigott Jack (E-mail)'; 'Richard Hyde (E-mail)'; 'Rob Lamkin (E-mail)';
'Roger Pelote (E-mail)'; 'Stephanie-Newell (E-mail)'; 'Sue Mara (E-mail)';
'Theo Pahos (E-mail)'; 'Tom Ross (E-mail)'
Cc: Carol H Hudson (E-mail); Katie Kaplan (E-mail); Jan Smutny-Jones
(E-mail); Steven Kelly (E-mail); 'danielle.quan-hill@mirant.com'; 'Alex
Sugaoka (E-mail)'; 'Bill Carlson (E-mail)'; 'Bill Woods (E-mail)'; 'Bob
Ellery (E-mail)'; 'Bob Gates (E-mail)'; 'Cody Carter (E-mail)'; 'Curt Hatton
(E-mail)'; 'David Parquet'; 'Dean Gosselin (E-mail)'; 'Doug Fernley
(E-mail)'; 'Duane Nelsen (E-mail)'; 'Ed Tomeo (E-mail)'; 'Eileen Koch
(E-mail)'; 'Eric Eisenman (E-mail)'; 'Frank DeRosa (E-mail)'; Frazier
Blaylock (E-mail); 'Hap Boyd (E-mail)'; 'Hawks Jack (E-mail)'; 'Jim Willey
(E-mail)'; 'Joe Greco (E-mail)'; 'Jonathan Weisgall (E-mail)'; 'Kate
Castillo (E-mail)'; 'Kelly Lloyd (E-mail)'; 'Ken Hoffman (E-mail)'; 'Kent
Fickett (E-mail)'; 'Lynn Lednicky (E-mail)'; 'Marty McFadden (E-mail)';
'Paula Soos'; 'Randy Hickok (E-mail)'; Rick S. Koebbe (E-mail); 'Ross Ain
(E-mail)'; 'Steve Iliff'; 'Steve Ponder (E-mail)'; 'Tony Wetzel (E-mail)';
'William Hall (E-mail)'
Subject: Public Affairs Committee
Importance: High

Greetings:

As many of you know, the IEP Board met last week and decided upon a new
committee structure within IEP. The Public Affairs Committee was created to
replace the Market Response Committee with Greg Blue appointed as the
interim chairperson. We would like to move to establish this new committee
as soon as possible and meet to discuss direction, specific upcoming issues,
an overall plan, budget and structure for the year. We would like to start
this process with a conference call on Monday March 5, 2001 at 3:00 p.m.
Please see call in information below. (It is not necessary for any
consultants to participate in the Monday call.)   This conference call will
be followed by an in-person meeting here at IEP on Thursday March 8, 2001 at
2:00 p.m.

If you are interested in participating on this committee please signify that
with an e-mail response to this message.

For those planning on participating on the conference call we will send out
the agenda on Monday.  During that conference call we will also set the
agenda for the Thursday in person meeting. During the Thursday meeting we
would also like to move to select a permanent chairperson.

Thank you for your attention to this important matter and I look forward to
continuing to work with each of you and make this new committee structure a
success.
I have set up a permanent Conference Call in number and Pass-code for the
Public Affairs Committee that we will use every time we have a conference
call.  We will begin using this call-in number on Monday.
The call in number for Monday's 3:00 p.m. call is is:
        1-800-486-2460
The Pass-code is:
120895

Thanks,

Katie Kaplan
Manager of State Policy Affairs
Independent Energy Producers Association
(916) 448-9499

 - Public Affairs memo.doc


Attached please find an updated EPMI Power Credit Watch List as of 12/13/00.
Please direct any questions and/or comments to the Credit Hotline
(713-853-1803).

Regards,
Tracy


Nicole,

This is the position EXCLUDING Exotics.  I haven't been able to load the text
file yet.  But I'll send that as soon as I have it.  I also included the
detail.

Let me know if I can help.

Robin
x57478


Attached are EPMI's responses to the FERC investigation of the bulk power
markets in the East..  The "summprob" docs highlight examples of
discriminatory practices and other problems with the OATT rules for trading
and interconnection activities.  FERC staff asked for similar responses from
10 power marketers and plans to use the information in the aggregate in in
its report to the Commission, due Nov. 1.


Please add Barreet Resources as an eligible party to trade the product US Gas
Physical-non-Texas Points-Restricted for El Paso Physical Blanco  l Average.
Please advise if you have any questions.


Sally and Brent,
The write-up below is based upon discussions Jonathan Le and Kevin Lee had
with Steve Stock and Jeremy Wong.
Jonathan and Kevin are working on a new cash flow process for us which should
help to insulate us from the current intra-night process for the ERMS and
EnPower cash flows.
Sheila
---------------------- Forwarded by Sheila Glover/HOU/ECT on 09/15/2000 08:32
AM ---------------------------

Jonathan Le
09/14/2000 04:40 PM
To: Sheila Glover/HOU/ECT@ECT
cc:
Subject: Problems with Morning Cashflow process

fyi
---------------------- Forwarded by Jonathan Le/HOU/ECT on 09/14/2000 04:39
PM ---------------------------

Kevin Lee@ENRON
09/14/2000 11:27 AM
To: Jonathan Le/HOU/ECT@ECT
cc:
Subject: Problems with Morning Cashflow process

Hi Jonathan,

 Listed below are the details of each days problems:

Fri, Sep 8,2000
AutoRho failed at 3:15am, uploaded only 8 books into Infinity.
It failed on the step in AutoRho where it runs the query to get all the books
for the Infinity USD portfolio.  Jeremy does not know exactly what caused it
but rerunning AutoRho seemed to work.
Recovery used the backup file and was on time.

Tue, Sep 12,2000
Similar problem to Friday, but ENPOWER also failed.  The manenpower.txt file
had TNS errors in it.  AutoRho was not able to kick off the ENPOWER script to
get the cashflows.  Rerunning fixed the problem.
AutoRho failed at 3:15am, uploaded only 9 books into Infinity.
It failed on the step in AutoRho where it runs the query to get all the books
for the Infinity USD portfolio.  Jeremy does not know exactly what caused it
but rerunning AutoRho seemed to work.
Recovery used the file that Jeremy provided in the rerun, they were
approximately 10 minutes late.

Wed, Sep 13,2000
ENPOWER failed creating a header ONLY manenpower.txt file.  There was no
cashflows in the file.
Jeremy confirmed the Autorho process was fine.
The problem was the ENPOWER databse failed (hardrive failure) and they
immediately went to a backup.  But on the backup database, NOT all the tables
are replicated.  The cashlow table with the ENPOWER data we needed was not in
the backup database resulting in a file with zero flows!
This problem has been fixed by the enpower people.
Recovery included using the previous day's enpower flows.  They were on time.

Thurs, Sep 14,2000
AutoRho at 3:15 am and 11:00 pm was hung.  Enpower also was not run since
AutoRho failed.
Reason was because the UNIX NFS file system "solar" was full  As a result,
our directory /worksheets2, and also /prod/egs-home is mounted on solar but
could not write anything to it.  Supposily the SA are suppose to have been
paged when ever a file system gets close to 100% (can you please confirm
this?).  The Unix NFS was fixed by 5:00 am.  AutoRho was rerun and was fine.
Recovery included Jeremy's file.  They were 1 hour late (partly due to other
reasons on MO side, not system related).

Thanks,
Kevin Lee


Jeanne:

Thanks for checking about the rooms.  Steve Kean will not be able to attend
this time.  I checked with our DC office for a replacement and unfortunately
they couldn't attend either.

Thanks again for checking - I really appreciate it.

    Maureen McVicker
    Steve Kean's Assistant

	"Payne, Jeanne" <payne@bipac.org>
	03/29/2001 12:49 PM

		 To: "'Kean, Steven J. (Enron)'" <skean@enron.com>
		 cc:
		 Subject:

Will you be attending the the Adam Smith Dinner May 1-- and the Board
meeting May 2?

If so, will you want a hotel room at the Hyatt Regency on Capitol Hill?
They will be releasing the room block tomorrow.  The hotel is completely
booked with a wait list ... so, tomorrow is D-Day.

just a reminder in case you do need a room.


I think we should show margins and expense and come down to net contribution.  I think it be important to maintain the margin stuff separately.  We also should show the assets sales and others separately.

John Keiser
02/20/2001 11:18 AM
To:	Tracy Geaccone/GPGFIN/Enron@ENRON
cc:	Steve Gilbert/ET&S/Enron@ENRON

Subject:	Re: 1st QTR Forecast Margin

Tracy, I agree.  We just weren't there yet last week when we met with Danny.

Tracy and Steve, I want to substitute "Net Contribution Commercial" for the Net Margin on my combination schedule.  Do you have the other line items by Quarter that you can come to a Net Contribution Commercial number?

<Embedded StdOleLink>


I just wanted you to know that I sent you an email to your sliperyseal
email address.

rv


request_number:  DS-PL:003
firstname:  Pamela
lastname:  Jacklin
e-mail:  pljacklin@stoel.com
exhibit_wp-02-e-:  JCG-01 and 02
page_numbers:
request_text:  Please disclose and/or produce any and all communications from
October 16, 2001 to the present, between any of the party representatives
listed below and any representative of BPA concerning rates to be in effect
for BPA's Fiscal Years 2002-2006, the interactions of such rates and customer
contracts, or procedural aspects of rate these proceedings.

 Terry Mundorf (WPAG)
 Lon Peters (PGP)
 Linc Wolverton (ICNU)
 Scott Brattebo (PacifiCorp)
 Kevin Clark (Seattle City Light)
 David Hoff (PSE)
 Geoff Carr (Northwest Requirements Utilities)
 Dennis Parrish (Market Access Coalition Group)
 Pam Jacklin (PacifiCorp)
 Peter Richardson (PPC)
 Kyle Sciuchetti (PPC)
 Ray Kindley (PGP)
 Jay Waldron (PGP)
 Doug Brawley (PNGC)
 Eric Johnson (PNGC)
 Darcy Norville (PGE)
 Lynn Williams (PGE)
 Steve Weiss (Northwest Energy Coalition)
 Mark Hellman (OPUC)

For purposes of this Request, "disclose and/or produce" has the meanings
described below.  With respect to oral communications, "disclose and/or
produce" means to describe the time, date, approximate duration, and
substantive content of the communication; the identity and organizational
affiliation of the communicating individuals; whether the communication
occurred in person or by telephone; the location of the communication if in
person; the identity of any witnesses to the communications, including all
individuals in the room if the communication occurred by speakerphone; and
whether the communication was made in the presence of or after coordination
with BPA counsel (if so, identify such counsel).  For purposes of this
Request, you need not "disclose and/or produce" oral communications that
occurred during meetings noticed in compliance with Rate Case Rule 1010.7(d).

With respect to written communications, the Request includes communications
in any recorded form, whether on paper, electronic (including, without
limitation, e-mails), or whatever form.  For such communications, "disclose
and/or produce" means to provide copies of all non-identical versions of any
written communications and to describe with particularity the location where
such communications were found and/or stored, including the identity of the
individual with possession or control of the written communications; to
describe with particularity the circumstances under which they were generated
or referred to; and to fully "disclose and/or produce" any oral
communications made in connection with the written communications consistent
with the preceding paragraph.  For purposes of this Request, you need not
produce papers served on all parties to the rate case and made part of the
official file in the rate case.
response_text:  PacifiCorp objects to this Data Request on the grounds that
it (1) seeks information that is not relevant and (2) seeks information that
is unduly burdensome to produce.  (Rules of Procedure Governing Rate
Hearings, Section 1010.8(b).)  PacifiCorp further objects to this Data
Request on the grounds that it is in improper form, as it does not cite to
specific testimony or indicate the specific use to which to information
sought will be put.  (Special Rules of Practice, WP-02-O-01.)  Without
waiving the foregoing objections, we respond as follows in the below attached
exhibits:

For oral communications, see Exhibit 1.
For written communications, see Exhibit 2.

The exhibits and attachments are available in BPA's Data Response Room.

The following information is from the web server:
1.  Logon: IUSR_GRANITE
2.  Remote Host:  198.36.178.141
3.  Remote IP Address:  198.36.178.141
4.  Form URL:
https://secure.bpa.gov/power/secure/psp/ratecase/discovery/wp_02_response.html
5.  Browser Client:  Mozilla/4.0 (compatible; MSIE 5.01; Windows NT)


----- Forwarded by Jeff Dasovich/NA/Enron on 02/22/2001 01:23 PM -----

	John Neslage@ENRON_DEVELOPMENT
	02/22/2001 10:37 AM

		 To: Jeff Dasovich/Na/Enron@ENRON
		 cc: Aaron Klemm/Western Region/The Bentley Company@Exchange@EES@ENRON, Mike
D Smith@EES
		 Subject: Re: Regulatory update

We are in the process of distilling this list down to its essentials, and
when we are done, I will forward it along to the group.  So as not to hold
you up, I am attaching a comprehensive list of proposed legislation in both
the Assembly and the Senate in California, along with short summary of what
each piece of legislation purports to do.

Thanks-

John


Dear Mr. Ryan,

We are in receipt of your letter to Mr. Skilling regarding CallTech
Communications contact center services.  Mr. Skilling has forwarded your
correspondence to Mr. Chris Reedy, Director of Customer Satisfaction at Enron
Energy Services. Upon review, Mr. Reedy will contact you if appropriate.

Sincerely,
Sherri Sera
Assistant to Jeff Skilling
713.853.5984
713.646.8381 (fax)


Sorry about the delay in getting back to you. I would do a separate heading.
I am not sure who needs to approve this other than me. When Whalley was head
trader and COO, he approved. I do not know if it should be Lavo or Delainey.
If you know, send it to me and I will get it signed. If you are uncertain, my
paralegal, Linda Guinn, will find out.

	Greg Johnston
	07/20/2000 11:31 AM

		 To: Richard B Sanders/HOU/ECT@ECT
		 cc: Dan Dietrich/CAL/ECT@ECT
		 Subject: Enron North America Tape Retention Policy

Richard, further to my voice-mail, I was just following up as to how you
would like to proceed with addressing Enron Canada Corp. in the new tape
retention policy.  As I had indicated, Rob Milnthorp has requested that the
following two Enron Canada positions have authority to approve the listening
of voice recordings in the Calgary office, on behalf of Enron Canada Corp.:

Chief Executive Officer
Head of Trading

Rob's preference is not to specify particular persons but to identify the
titles instead.

Can you let me know how you would like to address this issue.  I would think
it is merely a matter of adding these two positions to the schedule
identifying who has authority to approve the listening of the tapes.  The
only problem is that the "Managing Director" wording could conflict with the
title identification that Rob wants to use for Enron Canada.  Perhaps in that
schedule, we could add a separate heading for Enron Canada.

Thanks

Greg


http://www.thestreet.com/_yahoo/markets/detox/10005593.html

This is the link to the pipeline deal I was trying to describe this morning.


Lorraine, Mike is wrong.  I never got the fax of the executed NDA.  May he
could call his contact at the company and get them to send it to me?!

	Lorraine Becker
	05/31/2000 06:43 AM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: Yahoo Non-Disclosure Agreement

Tana -

May I get a copy of this?  Our fax number is 713-646-2308 or my location is
EB2642B.  Please advise on how you will send so I can be on the "look-out".

Thanks!

Lorraine

---------------------- Forwarded by Lorraine Becker/HOU/ECT on 05/31/2000
06:38 AM ---------------------------

Michael Danielson
05/25/2000 10:58 AM
To: Lorraine Becker/HOU/ECT@ECT
cc:
Subject: Yahoo Non-Disclosure Agreement

Yahoo signed this nondisclsure agreement.  And fax'd it back to Tana Jones.
Will you call Tana, make sure we executed the document and fax'd back to
Yahoo, and get a copy for our files.  We also need to set-up and new file for
Yahoo.

Thanks...

---------------------- Forwarded by Michael Danielson/HOU/ECT on 05/25/2000
10:54 AM ---------------------------
From: Tana Jones on 05/24/2000 03:06 PM
To: davidt@yahoo-inc.com
cc: Michael Danielson/HOU/ECT@ECT
Subject: Yahoo Non-Disclosure Agreement

At the request of Mike Danielson, I am attaching our form of NDA.  If you
have any questions please do not hesitate to call me at (713) 853-3399 (fax
no 713/646-3490) or Mike at (713) 853-9052.  We look forward to hearing from
you.


Kathy,

What is EMBANET? Do I have access from the outside?

Vince Kaminski

Kathy Spradling <spradlin@rice.edu> on 01/11/2001 11:01:48 AM
To: (Recipient list suppressed)
cc: cmiller@rice.edu, castro@rice.edu, spradlin@rice.edu
Subject: Spring 2001 Schematic

Spring 2001 Faculty,

The Spring 2001 Schematic has been posted to EMBANET.  To access the
Schematic please open the JGSM Area icon on the EMBANET desktop.  Next
please open the Announcement JGSM icon.  You will find the Spring 2001
Schematic located under the Subject column.  Please open the document.  If
you do not have access to EMBANET you will need to speak with David Kilgore
at kilgore@rice.edu or by calling David at 713-348-5378.

Thanks,
Kathy

Kathy M. Spradling
MBA Program Coordinator
Jesse H. Jones Graduate School of Management
Rice University
6100 Main Street, MS 531
Houston, Texas  77005-1892
Phone:  (713) 348-3313
Fax:  (713) 348-5251
Email:  spradlin@rice.edu
http://www.rice.edu/jgs
E-mail:  spradlin@rice.edu
http://www.ruf.rice.edu/~jgs/


Dear Evening MBA Students,

This is the second announcement regarding our plans for the EMBA Seminar in
International Business. Much of this message is a repeat of the initial
one. But some points have been added.

NEW MATERIAL

1. As of today (December 7) we have received 30 deposits from interested
students. Should you be interested in participating and have not yet
applied, please do so as soon as possible, but in any case before the
December 15 deadline.

2. Regarding the possibility of visiting Cuba, some of you have asked about
the legality of this. Please note that I have a license from the US Dept.
of the Treasury that permits me to send students enrolled in a legitimate
course, for credit, to Cuba under certain conditions.

3. The current political situation in Indonesia is uncertain. However, my
sources there indicate that it should be OK for us to visit there if we
decide to do so. But, if the situation worsens we would alter the itinerary.

4. Some applications have been submitted without a preference for
destination. YOU MUST indicate your priority. You can rank all three
destinations if you wish, but you must indicate, at a minimum, your
priority for program A or B. Should you not be selected for your first
choice you will be transferred to the appropriate priority pool of your
second choice.

REPEAT

For those of you unfamiliar with this course, please see
http://www.haas.berkeley.edu/groups/HaasGlobal/NGcourseoutline.htm for the
2000 version that looked at Ghana, Belgium and the Netherlands or
http://www.haas.berkeley.edu/groups/HaasGlobal/JVcourseoutline.htm for the
1999 version that included Japan and Vietnam.

For 2001 we are going to try something slightly different. We will have two
distinct programs - one will be a repeat of last year's and the other will
venture into new territory. The details are as follows. Please note that
everything mentioned below is still tentative and subject to change or
cancellation.

PROGRAM DESCRIPTIONS

Both programs will commence with a series of classes, at Haas, in June.

Program A, led by Diane Dimeff will retrace the itinerary of the 2000
program to Ghana, the Netherlands and Belgium. The approximate dates for
the travel portion will be Saturday, July 7 through Saturday, July 21.

Program B, led by Sebastian Teunissen will consist of one of two possible
itineraries, depending on student demand:

itinerary 1: Cuba, Panama and Venezuela (or Costa Rica.)
itinerary 2: Australia and Indonesia.

Travel for program B will also start on approximately July 7 and end on
approximately July 21.

Costs for the programs are expected to be approximately equal to those
charged in previous years ($4,600), with the exception of the
Australia/Indonesia option. If this program is selected the final cost is
likely to be roughly $1,000 higher due to increased air fares. Final costs
will be determined once itineraries are set.

As you can see, planning is still in the early stages. But, before we go
much farther we need to know who is interested in participating. So, we
need to receive expressions of interest, in the form of a refundable $100
deposit from interested students.

APPLICATION PRIORITIES

Students will have different priorities depending on seniority. Priorities
are as follows:

Top Priority - both programs - students in fourth semester or higher in
January 2001 who HAVE NOT participated in the program in a previous year.

Second Priority - Program B only - students in fourth semester or higher
who did participate in the program in a previous year. These students are
not eligible for program A.

Lowest Priority - both programs - students in second or third semester.

Each group is limited to a maximum of 15 students.

APPLICATION PROCEDURE

Please submit, to the Evening MBA office, a check in the sum of $100
payable to UC Regents together with the following information, no later
than December 15, 2000.
- Name
- Semester level as of January 2001
- Whether or not you have previously participated in the program
- Choice of program: A or B (If you choose program B please also indicate
your preferred destination: Latin America or Australia/Indonesia.)
- e-mail address

Once we have a clear indication of preferences the final details will be
planned and announced. The announcement will likely be made in January. At
that time you will be advised of the program for which you are eligible.
You will then be asked to increase your deposit by $900 and the entire
$1,000 deposit becomes non-refundable.

OTHER ISSUES

Please check your passport to ensure that it expires no earlier than
December 31, 2001. If it does please renew it now. Passports with shorter
expirations may be rejected for visas, depending on the countries to which
you will travel.

Also, please check the visa requirements for the countries of interest for
your particular nationality. This may have a bearing on the program that
you select.

You might wish to check out the US State Department Consular Information
Sheets and Travel Warnings at http://travel.state.gov/travel_warnings.html
before applying.You may also wish to review health information at
http://www.tripprep.com/ or at http://www.cdc.gov/travel/.

Should you have any questions please contact me.

Regards,

Sebastian
===============================
Sebastian Teunissen
Director of International Affairs
Haas School of Business
University of California, Berkeley
Berkeley, California 94720-1900 USA
Tel:   (510) 643-4999
Fax:  (510) 642-8228

http://www.haas.berkeley.edu/HaasGlobal


Attached please find a book request for 15 new books.  Please grant access to the books regionally.  I have put the person responsible for the region at the bottom.  There is no rush on these, we will not need them until next Monday.  Please shout with any questions.  Thanks for your help.
PL


Meredith, for my LDCs, there are no changes for the weekend.  I will continue
nomming those 3 contracts that are being cut, though.


Hey!  Hope you're doing well and getting some sleep.  John asked me to send you an e-mail concerning the move of Dick Lydecker under the Wholesale investing effort headed by Kevin Garland.  I have attached the April assets listing for your reference.  It was John's sense that he would want to place certain assets under Dick which aren't currently his, such as AIG and maybe even Bridgeline.  We should probably make some cut that could be different than the existing owners. Other  Investments of note:  Onondaga
                                All of Mike Miller's stuff( I assume including Destec)
                                Some of Redmond's retained assets (see p. 4)
                                East Coast Power loan --  $30mm
                                All of the CLO Investments

These would all be candidates to move some of which might land with Dick anyway.  I think John just wanted you thinking about this.  Call me if you have thoughts or need further info.  By the way, I scanned other B/S accounts and nothing exists there which should be moved

Wes

 -----Original Message-----
From: 	Vargas, Hope
Sent:	Friday, June 01, 2001 8:27 AM
To:	Colwell, Wes
Subject:	April Assets

Please refer to the "Contact" tab.


Come chat with me when you get a chance.  I see you are not at your desk, as
usual.


I was able to get into the application this time.  I could see the request
for Shona on the screen and I clicked "Approval".  The status did not change
from pending and there was no pop up on the screen that indicated that the
request was processed.  So I do not know if this worked.

ARSystem@ect.enron.com on 09/01/2000 03:12:01 PM
To: sally.beck@enron.com
cc:
Subject: Request Submitted: Access Request for shona.wilson@enron.com

Please review and act upon this request. You have received this email because
the requester specified you as their Manager. Please click
http://itcApps.corp.enron.com/srrs/Approve/Detail.asp?ID=000000000002257&Email
=sally.beck@enron.com to approve the req

Request ID          : 000000000002257
Request Create Date : 9/1/00 3:10:58 PM
Requested For       : shona.wilson@enron.com
Resource Name       : Visio Professional
Resource Type       : Applications


John -

I apologize for the delay, earnings release had us swamped!

After discussing the SOP with our expert partner network in Chicago, they
said they believe that this SOP has a 50-60% chance of passing.  Definitely
not a slam dunk.  That group gave me some general guidelines that are
helpful when responding to the standard setters:  stick to the current
literature (other authoritative literature that contradicts/supports your
position), cost vs. benefit analysis of implementing the new rules,
usefullness of new information required by the new standard to the reader,
and try to stick with the facts and try not to be negative (i.e. "we don't
like it" type statements).

We are still drafting the official Firm position on the SOP.  However, we
generally agree with the concept that accounting for PP&E/Depreciation
should be consistent and comparable between companies.  Please note, that I
am not trying to persuade you to support the Firm's preliminary views,
rather trying to make the letter more effective when AcSEC reads their
letter.

My comments are on the draft letter attached, with my suggestions and
comments in yellow.  Call me if you have any questions.

Heather

(See attached file: INGAAResponse - draft.doc)
*******************Internet Email Confidentiality Footer*******************

Privileged/Confidential Information may be contained in this message.  If
you are not the addressee indicated in this message (or responsible for
delivery of the message to such person), you may not copy or deliver this
message to anyone. In such case, you should destroy this message and kindly
notify the sender by reply email. Please advise immediately if you or your
employer do not consent to Internet email for messages of this kind.
Opinions, conclusions and other information in this message that do not
relate to the official business of my firm shall be understood as neither
given nor endorsed by it.


THANX

 -----Original Message-----
From: 	Marquez, Jose
Sent:	Thursday, October 18, 2001 8:14 AM
To:	Dorland, Chris
Subject:	Emulator

Chris-

  This was yesterday's report on our feelings concerning EarthSat's 30-Day Outlook.  There were no major changes.
Next week, EarthSat's report will include December and we will include that in the report as well.  Any questions,
please let me know.

 << File: Emulator.pdf >>

Jose


PROCESSING

None...

TENDERED

OBA	Lone Star	New OBA Agreement Ward RP, Ward DP & LS Pecos	 	Tendered 3/7

GS	Energas	New Gas Sales Agreement				 	Tendered 3/11

100001	Tenaska	4/1/02-5/31/02	5,000/d	W Tex to WS Ward	EXECUTED

27600	Bass Enter	Extend to 5/31/03	2,500/d	Crawford to Valero	Tendered 3/14

27579	Duke Energy	Eff 3/15		20,000/d	Swap RP Vols		EXECUTED

27848	Sempra Energy	Eff 3/17-3/18		15,000/d	Swap DP Vols		EXECUTED

26816	Sempra Energy	Eff 3/17-3/18		21,500/d	Swap DP Vols		EXECUTED


Get ready to help the Body Shop celebrate it's 15th anniversary and kick off
National Health and Fitness Week.

Beginning Monday, May 14 and ending Friday, May 18, 2001 all Enron Employees
are invited to work-out at the Body Shop as a complimentary guest.  Just
visit http://hrweb.enron.com/wellness, print and fill-out the body shop 15th
anniversary guest form, and return it to the Body Shop prior to your first
workout.

The week long celebration includes a speech and autograph session with Clyde
Drexler, Monday, May 14, 2001, 11:30 AM-12:00 noon (spaces will be limited
and you must RSVP to Body.Shop@enron.com  by Friday, May 11, 2001, 3:00 PM);
an early morning workout with the Houston Rocket's Power Girls on, Thursday,
May 17, 2001 starting at 6:30 AM followed by breakfast and autograph session
in the Body Shop Fuel Station at 7:30am - 8:30am; a boot camp style class led
by the German/American Foreign Legion and much, much more.

Visit the Body Shop website for a detailed calendar of events, or for
additional information, please e-mail the Body Shop at Body.Shop@enron.com.


THE WALL STREET JOURNAL / CALIFORNIA

Critics Seek
More Control
Over ISO
By Marc Lifsher

08/09/2000
The Wall Street Journal
Page CA1
(Copyright (c) 2000, Dow Jones & Company, Inc.)
Some people want the California Independent System Operator to be a lot less
independent.
The Folsom-based nonprofit corporation, which acts as the traffic cop for the
state's electricity grid, has been a lightning rod for criticism during this
summer's power crisis. Though generally praised for keeping lights on in the
face of severe shortages of electricity, the ISO has come under fire for
failing to move more quickly to lower the maximum price it will pay
generators for emergency power to meet demand and prevent blackouts.
Pressure on the ISO has eased considerably since last week, when its
governing board voted to lower the cap on such same-day, emergency purchases
-- the only type of pricing it has the power to affect directly -- to $250 a
megawatt hour from $500. But the heat hasn't been turned off completely. Some
lawmakers still are calling for changes in the 26-member ISO board, which
includes people nominated by power generators, utilities, middlemen, and
commercial and residential customers, among others. The critics want to
streamline the board and make it more accountable to the state's elected
officials.
The ISO was created by the state's 1996 utility-deregulation act to transmit
electricity smoothly between generators and utilities. Lawmakers devised the
independent board as a way to give the various "stakeholders" -- generators,
utilities, middlemen, customers and environmentalists -- a say in how energy
is supplied. Members serve for up to three years.
"It's inappropriate for the ISO governing board to vote on issues that
benefit them financially," says Sen. Dede Alpert, a Coronado Democrat. She
questions the wisdom of allowing out-of-state energy sellers and marketers to
sit on the ISO board and vote on emergency prices, especially when they have
an interest in keeping those prices high.
Sen. Alpert spent much of the Legislature's recent summer recess fielding
complaints about high electricity costs from her constituents, customers of
San Diego Gas & Electric Co., a unit of San Diego-based Sempra Energy. Last
summer, SDG&E became the first investor-owned utility in the state to have
price regulations fully lifted. This summer, its rates have doubled, as high
temperatures and power shortages have swept the West.
In response to a series of price spikes in Southern California and the wider
contention that skyrocketing prices indicate the failure of deregulation,
state lawmakers have scheduled a joint hearing tomorrow in Sacramento. High
on the agenda: possible changes in the ISO's governing structure and scrutiny
of the way it handles power statewide on hot days. Critics say emergency
purchases should be no more than 5% of electric-power sales, but were as high
as 33% of the market on hot days earlier this summer.
Key legislative leaders -- including Sen. Steve Peace, an El Cajon Democrat
who was the architect of the 1996 deregulation law -- would like to make the
ISO more accountable to state elected officials.
Possible changes include preventing industry representatives with conflicts
from sitting on the ISO board, as well as abolishing the ISO entirely and
shifting its responsibilities back to state utilities, under the supervision
of the state Public Utilities Commission. Until 1996, the PUC regulated all
electric utility rates and services.
ISO board members say legislative critics are unfairly focusing anger over
the price spikes on the ISO, which has only a limited ability to set prices.
Most electricity isn't sold through the same-day, emergency market -- but
through long-term contracts between sellers and utilities, or at least a day
in advance through the California Power Exchange, which is a nonprofit
corporation established by the 1996 law to serve as a trading floor.
"We need to create a government structure that is not susceptible to pressure
from one state senator or anyone else," to keep prices artificially low, says
ISO Chairman Jan Smutney-Jones, who represents the Independent Energy
Producers Association, the trade group for non-utility power generators. He
dismisses criticism of the board's out-of-state members. There needs to be
"an independent, interstate board" because energy is transmitted across state
lines, he says. Two Houston-based power sellers on the board, Dynegy Corp.
and Enron Corp., deny any conflict. Chuck Watson, Dynegy's chairman and chief
executive, blames state officials for expanding the ISO's role to include
monitoring prices. "If there's any finger-pointing," Mr. Watson says, "they
probably should start with the big finger pointed right at them."
Substantial restructuring of ISO governance could prove difficult. The state,
through the governor-appointed Electricity Oversight Board, has limited power
to make changes. Past efforts by the Oversight Board to exert control didn't
go far.
Last year, state lawmakers tried to give the Oversight Board the power to
confirm or reject ISO board members to make them accountable to state
officials. (Nominees had previously gone on automatically.) The effort was
opposed by officials of the Federal Energy Regulatory Commission in
Washington, D.C., which argued that the state couldn't have veto power over
the nominees of out-of-state power producers. In a compromise, California
officials were given authority to veto half the board -- those nominated by
residential, industrial, commercial and agricultural power-users.
The federal energy commission has final regulatory authority over the ISO and
has viewed state attempts to meddle with the agency as an unconstitutional
attempt to hinder interstate commerce.
Any proposed changes in ISO's governing structure "would be looked at very
closely by FERC," says ISO attorney Richard Jacobs.
This summer, the ISO board displayed an independence that was annoying to
state lawmakers. In June, Sen. Peace called on the board to lower its price
cap for emergency purchases, from $750 a megawatt hour (roughly the amount of
electricity needed to power 1,000 homes) to $250. The board responded by
lowering the cap to $500 a megawatt hour. A second attempt to lower the cap
to $250 failed to get a majority vote.
The reason? The three private power-seller representatives, including the
Independent Energy Producers Association, were joined by those representing
agricultural, industrial and commercial users in opposing a lowering of the
cap.
Then, the pressure on the ISO board really intensified. Gov. Gray Davis
weighed in, by sending the ISO board a letter asking it to lower the cap "to
the lowest possible level." Energy Secretary Bill Richardson ordered the
representative of federal-public-power sellers to change his vote from no to
yes. A consumer representative from the League of Women Voters also moved to
the "aye" column, allowing the cap to be lowered to $250.
Lowering the cap removes some of the rate pressure on residential and
commercial consumers in San Diego -- and takes some of the heat off the ISO
board. But not entirely: A Public Utilities Commission report on the state's
electricity market that was sent to the governor after the vote said that the
members of the ISO and the Power Exchange boards "can have serious conflicts
of interest" and that both organization aren't "accountable to the state or
its consumers."
An ISO spokesman said the board is in the process of producing a formal
response to the report and it declined to comment. A spokesman for the Power
Exchange said that it has followed the law regarding conflicts and that it
does protect consumers.
---


Can you e-mail a copy of my CRRA tax structure presentation (presented last
Friday) to Kay and to Steve.


Suzanne:
That's a trick question which I will not answer!!  I have been getting as
much sleep as Charles will let me for short periods of time.  It's really not
too bad and sometimes I take a nap in the late afternoon with him.  I'm still
breast feeding but my doctor said it would be okay to supplement with formula
so at midday he gets a bottle which allows Bill and I to get out of the house
for lunch most of the time.  I'm still running/walking in the mornings and
with Bill at night and i really enjoy the break.  I just can't stay in the
house all day and night.  Arthur started school yesterday and we've enrolled
him in a fall tennis camp twice a week.  He has really shown an interest in
tennis and i hope it continues.  I hope to get back on the court in a few
weeks but that seems to be the one activity that bothers me the most probably
because of the stopping and staring and the quick side to side movements.

Bill has been very helpful relieving me for short periods of time although
there is not much he can do in terms of feeding Charles since that's up to
me, but I'm glad that he is here with me although there are times when we are
sick of each other.  Once I start bottle feeding he will be able to do more.

Hope all is well with you.   I hope to maybe be up for a visit next week if I
can find a time that works.  I'll let you know.  I'm really sorry to hear
about Jim Grace's baby.  Please keep me posted.  It makes me appreciate more
what we have.

Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com

	Suzanne Adams
	08/09/00 11:09 AM

		 To: Carol St Clair/HOU/ECT@ECT
		 cc:
		 Subject: Re: Office Build-out

Have you been doing too much or just not getting any sleep?


Paula,

I cannot open the attachment.

Vince

From: Paula Corey@ENRON COMMUNICATIONS on 01/29/2001 03:39 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Resume Forwarded at Request of Brian Mihura

Vince -

This is the resume I told you about

P
----- Forwarded by Paula Corey/Enron Communications on 01/29/01 03:37 PM -----

	mateog@gofree.indigo.ie
	01/29/01 02:58 PM

		 To: Paula Corey/Enron Communications@Enron Communications
		 cc:
		 Subject: Resume Forwarded at Request of Brian Mihura

Dear Paula:

My name is Matt Gunning and I am a friend and former colleague of Brian
Mihura.  Brian mentioned that you would be interested in seeing my resume,
which I have attached.  If you have questions or need more information,
please contact me.  Thank you for your consideration.
 - att1.htm
 - Resume1.wps


2 weeks ago, I received a page and the message box on my pager said "voicemail".  Would you see if I have voicemail and if I do, how do I access it.

Thanks

My pager number is 877-498-5497