---------------------- Forwarded by Gregg Penman/Corp/Enron on 07/27/2000
09:48 AM ---------------------------

Roy Rodriguez
07/26/2000 11:48 AM
To: Jeffrey T Hodge/HOU/ECT@ECT
cc: Cary M Carrabine/Corp/Enron@Enron, Laura Luce/Corp/Enron@Enron @ ECT,
Richard Tomaski/Corp/Enron@Enron @ ECT, Tim.Hermann@enron.com, Gregg
Penman/Corp/Enron@Enron, Barbara G Dillard/Corp/Enron@Enron@ECT,
k.staszak@pecorp.com, S.Halfin@pecorp.com
Subject: MEH as a Hub Customer Contract

Jeff,
MEH is requesting to be a Customer of PGL's Hub, to do so we need to execute
a PALS agreement (see attached).  I believe this is the same document ENA and
EMW have already executed.

Upon approval,  please review and fax a signed  "authorized" copy to Laura
Luce for signature.  Our fax number is 312-541-2728.  Legal questions
regarding the document should be forwarded to PECORP's Simon Halfin
(312-240-4411).

Thanks You

---------------------- Forwarded by Roy Rodriguez/Corp/Enron on 07/26/2000
11:33 AM ---------------------------

k.staszak@pecorp.com on 07/26/2000 11:13:44 AM
To: bdillar@enron.com, d.wear@pecorp.com, richard.tomaski@enron.com
cc: roy.rodriguez@enron.com, j.slechta@pecorp.com

Subject:

and here is that attachment we talked about, okay!!

 <<PALS Agreement.doc>> Sorry!

Kathy Bunda
312-240-4361

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

 - PALS Agreement.doc


Tana - please mark up the draft with these comments so I can see what they
look like.
---------------------- Forwarded by Mark Taylor/HOU/ECT on 03/30/2000 09:26
AM ---------------------------

Dave Samuels
03/29/2000 11:21 AM
To: Mark Taylor/HOU/ECT@ECT
cc:
Subject: Reuters Confidentiality Agreement Comments

---------------------- Forwarded by Dave Samuels/HOU/ECT on 03/29/2000 11:21
AM ---------------------------

Lynne Carithers <lynne.carithers@reuters.com> on 03/29/2000 10:11:34 AM
To: dave.Samuels@enron.com, julie.ferrara@enron.com, rahil.jafry@enron.com
cc: stanford.lin@reuters.com, james.garland@reuters.com, Steve Pickett
<stephen.pickett@reuters.com>
Subject: Re: Enron - Confidentiality Agreement Comments

Dave, Julie, Rahil:

Reuters Legal NY has reviewed the Confidentiality Agreement for
enrononline.com
that you submitted to me earlier this week and comments are noted below.

Over to you now, for your legal to review and make appropriate changes as I do
not have the Agreement in an electronic format.

Lynne

From: Stanford Lin on 03/29/2000 11:33 AM EST

To:   Lynne Carithers/DAL/US/Reuters@REUTERS
cc:
Subject:  Enron - Confidentiality Agreement Comments

Lynne:

Here are my comments on the agreement:

1) Change references from Reuters Group plc to Reuters America Inc.

2) Delete last sentence of Section 3 or insert the words "at Protected Party's
expense" after the text "best efforts"

3) Insert the following at the end of the first sentence in Section 4:

,  and that is designated in writing as confidential, proprietary or marked
with
words  of  like  import or, if orally conveyed, Protected Party provides
written
notice  describing  in  reasonable  detail the portion of the oral
communication
that  shall  be deemed Confidential Information and delivers such writing to
you
within 10 days of the oral conveyance.

4) Insert the following at the end of the last sentence in Section 4:

or  (d)  is  developed  by  you independently of any Confidential Information
it
receives from the Protected Party.

5) Insert the following right before the last sentence in Section 6

However, the Protected Party represents and warrants to you that it has the
right to make the disclosures permitted under this Agreement without violating
any applicable law or regulation or any legally enforceable agreement to which
it is a party.

6) In Section 9, replace "Money damages would" with "Money damages may".
Change
both  references  of "Texas" to "New York".  Delete the five sentences
regarding
arbitration.

--Stanford

-----------------------------------------------------------------
        Visit our Internet site at http://www.reuters.com

Any views expressed in this message are those of  the  individual
sender,  except  where  the sender specifically states them to be
the views of Reuters Ltd.


The summary sent earlier today has had one more advice letter added to  it.?
Please toss the earlier summary and use this instead.?
?
Thanks,
?
Dan
 - 12-7-00 PG&E AL Summary Chart.doc


The Commission at today's FERC meeting voted out orders in the three Southeast region RTOs - Grid South, SETrans and SPP.  It was reported at the meeting that the orders will find that it is necessary for a single Southeast region RTO.  A separate order will be issued in a new docket RT01-100 initiating mediation before an ALJ (Judge Bobbie McCartney) to facilitate the formation of the single Southeast RTO.  Within one week, the settlement proceeding will begin and will continue for 45 days.  The judge thereafter must report to the Commission within 10 days including an outlline of a Southeastern RTO, milestones for completion of intermediate steps and a deadline for submitting a joint proposal.  The Commission will review the report and may issue further orders as needed.

Grid South, SE Trans and SPP are required to participate and Grid Florida is encouraged to participate in the mediation.  All parties to any of these RTOs should also participate.

The Grid South order will also include language requiring an independent board.  After the independent board is established, it should choose an operator of the RTO.  This language should further support the idea set out in a prior SPP order granting Enron's clarification that the RTO should not make major capital expenditures for software or operating systems prior to the establishment of an independent board.

The Grid South order should also include language supporting the establishment of interconnection standards.


Jay has been pulling reports over the last couple of days and so far so good.  Reported attached if you need it.

 -----Original Message-----
From: 	Webb, Jay
Sent:	Thursday, October 25, 2001 11:30 AM
To:	Kitchen, Louise; Zipper, Andy
Subject:	customer positions

The enclosed spreadsheet shows the net online position by product, by counterparty, for a number of liquid gas products.  Each column represents the life-to-date position generated on that product, for that customer, through the date in the heading of the column.

I don't see an immediate indication of these customer closing out of positions.

If I can put this into a more convenient form, let me know what would help.

Thanks!
 -jay


March 13, 2002
Notice No. NMS-22

NOTICE OF INTENTION TO SWITCH QUALIFYING CLEARING MEMBER

	Please be advised that effective immediately Man International, Inc.
will no longer guarantee the following Member(s):

Michael Cokeley (MICK-4575)
David Kimmel (KIML-7149)
Drew Smith (DISC-4458)
Brian Smith (RDOG-3527)

However, the above mentioned will remain a member(s) guaranteed by F.C.
Stone, LLC.

TRANSFER OF SOLE MEMBERSHIP

Please be advised that effective with the close of business March 12, 2002,
the following member(s) have given notice of intention to transfer their
Sole membership:

Edward Kuezek (FAST-3594
Michael Geoghan (TALL-4393 )

	Members and Member Firms have ten (10) days from the date of this
notice to advise the Membership Department of any claims against the
aforementioned Member(s).  Inquiries regarding this matter should be
directed to the Membership Department at <dlowe@nymex.com>


Attached is the Management Report for Feb. 29, 2000

External Trading

 Total  29-Feb-00  To Date

 Number of Transactions   1,155   39,504
 Gross Notional Value $   463,655,144   13,348,236,465

 Revenue from Physical flows to date ($)    389,590,286

 Number of New Counterparties transacting today    4
 Number of Counterparties having transacted to date    236

 N.A. Gas

 Number of Transactions   893   32,560
 Volume of Transactions (mmbtu's)   176,724,389   6,578,821,519
 Gross Notional Value $   369,245,902   10,725,358,246

 UK Gas

 Number of Transactions   118   2,192
 Volume of Transactions (mmbtu's)   23,947,500   290,654,000
 Gross Notional Value $   49,068,042   588,977,144

 Belgium Gas

 Number of Transactions   1   82
 Volume of Transactions (mmbtu's)   750,000   17,455,000
 Gross Notional Value $   95,813   33,077,248

 U.S. Power

 Number of Transactions   96   3,358
 Volume of Transactions (MWh's)   723,029   27,453,027
 Gross Notional Value $   28,797,941   1,012,870,946

 UK Power

 Number of Transactions   3   206
 Volume of Transactions (MWh's)   50,400   9,760,421
 Gross Notional Value $   1,621,319   366,340,778

 Swiss Power

 Number of Transactions   3   34
 Volume of Transactions (MWh's)   4,452   58,155
 Gross Notional Value $   92,703   1,291,297

 German Power

 Number of Transactions   25   241
 Volume of Transactions (MWh's)   95,357   1,981,993
 Gross Notional Value $   1,645,518   37,252,632

 Spanish Power

 Number of Transactions   -     6
 Volume of Transactions (MWh's)   -     17,713,650
 Gross Notional Value $   -     631,836

 Norwegian Power

 Number of Transactions   1   104
 Volume of Transactions (MWh's)   11,160   1,938,264
 Gross Notional Value $   179,786   28,427,265

 Crude & Products

 Number of Transactions   4   250
 Volume of Transactions (BBl's)   600,000   27,460,184
 Gross Notional Value $   9,861,600   369,447,080

 Petchems

 Number of Transactions   -     42
 Volume of Transactions    -     360,000
 Gross Notional Value $   -     59,888,900

 LPG

 Number of Transactions   7   190
 Volume of Transactions (BBl's)   56,000   2,184,000
 Gross Notional Value $   2,045,000   74,362,500

 U.S. Coal

 Number of Transactions   3   85
 Volume of Transactions (st)   18   2,033,424
 Gross Notional Value $   1,001,250   29,767,433

 U.S. Pulp & Paper

 Number of Transactions   -     4
 Volume of Transactions (st)   -     2,550
 Gross Notional Value $   -     1,500,750

 Plastics

 Number of Transactions   -     1
 Volume of Transactions   -     1,500,000
 Gross Notional Value $   -     427,500

 Emmissions

 Number of Transactions   -     58
 Volume of Transactions   -     145,000
 Gross Notional Value $   -     18,982,650

 U.S. Weather

 Number of Transactions   1   92
 Volume of Transactions    1   97
 Gross Notional Value $   270   59,760

 UK Weather

 Number of Transactions   -     22
 Volume of Transactions    -     22
 Gross Notional Value $   -     6,438

 Number of Users Logging onto EnronOnline:
 External Users with Execution rights    812
 External Users with No Execution Rights    62

 Internal Trading
 29-Feb-00  To Date
 Gas

 Number of Transactions   118   2,915
 Volume of Transactions (mmbtu's)   46,696,943   1,192,523,602
 Gross Notional Value $   115,033,723   2,111,296,314

 Power

 Number of Transactions   2   75
 Volume of Transactions (MWh's)   56,913   1,023,527
 Gross Notional Value $   1,623,870   30,817,983

 Coal

 Number of Transactions   -     -
 Volume of Transactions (st)   -     -
 Gross Notional Value $   -     -

 Emmissions

 Number of Transactions   -     -
 Volume of Transactions (st)   -     -
 Gross Notional Value $   -     -

 Total

 Number of Transactions   120   2,990
 Gross Notional Value $   116,657,593   2,142,114,297

Regards

Louise


-----Original Message-----
From: 	Fuller, Dave
Sent:	Tuesday, October 16, 2001 1:24 PM
To:	Ward, Kim S (Houston)
Subject:	Enron Stuff II


I have attached a quick summary of where we currently stand with our
nominations as a result of the hardware problems today.

Please call me if you have any questions, thanks - Bob Superty


Ladies and Gentlemen,

In celebration of Jamie Ginsberg's new job and to say farewell prior to her
impending departure, we are going to have one mother of a happy hour.  Save
the evening of July 6th (Thursday) to meet for a drink or so and to see Jamie
off to NYC.   The Timberwolf on Bissonnet will be the place, and the event
will start at 5:30PM.  It will peak at around midnight, and go downhill from
there.

Please join me on the 6th so that we can give Jamie the royal send-off that
she deserves.  No need to RSVP, just show up when you can.

Once again, the location is:
THE TIMBERWOLF on Bissonnet just east of Kirby

The time and date are:
5:30 PM on July 6, 2000

Bryan Garrett
Global Bandwidth Trading
Enron Broadband Services

Phone - (713) 853-7993
Mobile - (713) 256-6668

bryan_garrett@enron.net

www.enron.net


Enron Troubles Only the Tip of the Iceberg?
TheStreet.com, 10/26/2001

Under the Radar: Enron's Flickering Bulb
TheStreet.com, 10/26/2001

DJ Enron Unit,New England Market Downplay Report Of Default
Dow Jones, 10/26/2001

Enron Lawsuit Over Microsoft Broadband Agreement May Block MSN
Bloomberg, 10/26/01

Enron Executives Sent Requests for Details of Affiliate Profits
Bloomberg, 10/26/01

Enron Still Target in California Amid Other Problems (Update1)
Bloomberg, 10/26/01

Enron Bonds Fall as Company Taps $3 Bln Credit Line (Update5)
Bloomberg, 10/26/01

Keller Rohrback L.L.P. Investigates Potential Claims on Behalf of Enron Corp. -- ENE -- Employees and Former Employees
Business Wire, 10/26/01

Enron Troubles Only the Tip of the Iceberg?
By Peter Eavis <mailto:peavis@thestreet.com>
Senior Columnist
TheStreet.com
10/26/2001 05:23 PM EDT
URL: <http://www.thestreet.com/markets/detox/10003083.html>

Dealings with a related party have tarnished Enron's (ENE:NYSE - news - commentary) reputation and crushed its stock, but it looks like that case is far from unique.
The battered energy trader has done business with at least 15 other related entities, according to documents supplied by lawyers for people suing Enron. Moreover, Enron's new CFO, who has been portrayed by bulls as opposing the related-party dealings of his predecessor, serves on 12 of these entities. And Enron board members are listed as having directorships and other roles at a Houston-based related entity called ES Power 3.
The extent of Enron's dealings with these companies, or the value of its holdings in them, couldn't be immediately determined. But the existence of these partnerships could feed investors' fears that Enron has billions of dollars of liabilities that don't show up on its balance sheet. If that's so, the company's financial strength and growth prospects could be much less than has generally been assumed on Wall Street, where the company was long treated with kid gloves.
Enron didn't immediately respond to questions seeking details about ES Power or about the role of the chief financial officer, Jeff McMahon, in the various entities. Enron's board members couldn't immediately be reached for comment.
Ten Long Days
Enron's previous CFO, Andrew Fastow, was replaced by McMahon Wednesday after investors criticized Fastow's role in a partnership called LJM, which had done complex hedging transactions with Enron. As details of this deal and two others emerged, Enron stock cratered.
The turmoil that resulted in Fastow's departure began two weeks ago, when Enron reported third-quarter earnings that met estimates. However, the company failed to disclose in its earnings press release a $1.2 billion charge to equity related to unwinding the LJM transactions. Since then, investors and analysts have been calling with increasing vehemence for the company to divulge full details of its business dealings with other related entities. Enron stock sank 6% Friday, meaning it has lost 56% of its value in just two weeks.
Enron's End Run?
New financial chief's involvement in Enron business partners
Enron-Related Entity	Creation DateMcMahon Involved?

ECT Strategic Value Corp.4/18/1985	Yes
JILP-LP Inc.	9/27/1995	Yes
ECT Investments Inc.	3/1/1996	Yes
Kenobe Inc.	11/8/1996	Yes
Enserco LLC	1/7/1997	Yes
Obi-1 Holdings LLC	1/7/1997	Yes
Oilfield Business Investments1/7/1997	Yes
HGK Enterprises LP Inc.	7/29/1997	Yes
ECT Eocene Enterprises III Inc.2/20/1998Yes
Jedi Capital II LLC	9/4/1998	Yes
E.C.T. Coal Company No. 12/31/1998	Yes
ES Power 3 LLC	1/7/1999	Yes
Enserco Inc.	3/25/1999	No
LJM Management LLC	7/2/1999	No
Blue Heron I LLC	9/17/1999	No
Whitewing Management LLC2/28/2000	No
Jedi Capital II LLC	4/16/2001	No
Source: Detox
However, Enron has yet to break out a full list of related entities. The company has said nothing publicly about McMahon's participation in related entities, nor has it mentioned that its board members were directors or senior officers in ES Power 3. (Nor has it explained the extensive use of Star Wars-related names by the related-party companies.) It's not immediately clear what ES Power 3 is or does. So far, subpoenas issued by lawyers suing Enron have determined the names of senior officers of ES Power 3 and its formation date, January 1999.
Among ES Power 3's senior executives are Enron CEO Ken Lay, listed as a director, and McMahon and Fastow, listed as executive vice presidents. A raft of external directors are named as ES Power 3 directors, including Comdisco CEO Norman Blake and Ronnie Chan, chairman of the Hong Kong-based Hang Lung Group. A Comdisco spokeswoman says Blake isn't commenting on matters concerning Enron and a call to the Hang Lung group wasn't immediately returned.
Demands, Demands
Rating agencies Moody's, Fitch and S&P recently put Enron's credit rating on review for a possible downgrade after an LJM deal that led to the $1.2 billion hit to equity. Enron still has a rating three notches above investment grade. But its bonds trade with a yield generally seen on subinvestment grade, or junk, bonds, suggesting the market believes downgrades are likely.
If Enron's rating drops below investment grade, it must find cash or issue stock to pay off at least $3.4 billion in off-balance sheet obligations. In addition, many of its swap agreements contain provisions that demand immediate cash settlement if its rating goes below investment grade.
Friday, the company drew down $3 billion from credit lines to pay off commercial paper obligations. Raising cash in the CP market could be tough when investors are jittery about Enron's condition.
This week, a number of energy market players reduced exposure to Enron. However, in a Friday press release, CEO Lay said that Enron was the "market-maker of choice in wholesale gas and power markets." He added: "It is evident that our customers view Enron as the major liquidity source of the global energy markets."
McMahon reportedly objected to Fastow's role in LJM, allegedly believing it posed Fastow with a conflict of interests. But he will need to convince investors that the 12 entities he's connected to don't do the same. Enron has said that its board fully approved of the LJM deals that Fastow was involved in. Now, board members will have to comment on their own roles in a related entity.

Under The Radar: Enron's Flickering Bulb
By Christopher Edmonds <mailto:cedmonds@thestreet.com>
Special to TheStreet.com
10/26/2001 05:08 PM EDT
URL: <http://www.thestreet.com/comment/chrisedmonds/10003075.html>

While the bulb at Enron (ENE:NYSE - news - commentary) may not have burnt out, it's clearly flickering. To date, investors aren't sure whether Chairman and CEO Ken Lay is up to the task of re-energizing the company he once built to greatness.
What's happened at the Houston energy giant-turned-dwarf could've been imagined with any number of ne'er-do-well companies during the well-chronicled bubble. But this is Enron. As one longtime Enron bull and shareholder said, "I never had to worry about Enron's ability to survive until this week. I still find it hard to believe."
Peter Eavis has done an exceptional job of chronicling Enron's adventures for some time. If you'd listened to him earlier this year, you'd have profited from his knowledge. His reporting on Enron's partnership shenanigans to the departure of Chief Financial Officer Andrew Fastow has been outstanding.
The rumors -- from a pending bankruptcy to a Justice Department investigation -- are, for now, just that. And, Enron did not single-handedly cause the California power crisis, nor is Royal Dutch/Shell (RD:NYSE - news - commentary) about to make a bid to buy the company. Sources do tell me that head-count reductions are likely through employee buyout offers and the company is set to refocus on its core energy business. And, while former CEO Jeff Skilling shares culpability for the current mess, his departure appears only indirectly related to Enron's current woes.
Now, Enron faces the daunting challenge of rebuilding both its business and, more importantly, its reputation.
The Company's Challenge
But what does Enron do now? It's very simple. Come clean, clean up the mess and refocus on its core business: wholesale energy markets, risk management and retail energy services. They support each other and create a platform that can be plenty profitable without a lot of gimmicks.
"Our gut feel is that Enron can pull it off, and long-term investors should hold firm, as eventually the stock gets valued on earnings, with upside potential to $25 per share over the next 12-18 months," says Jeff Dietert, power analyst at Simmons & Co. and a member of the TSC Energy Roundtable. "We believe new money with high risk tolerance should wait until Enron announces its intentions for communicating a clear path to recovery."
Dietert outlines four challenges for Enron. One, management must regain the Street's confidence and persuade investors that it can resolve balance-sheet strength and generate the expected earnings and cash flow. Two, Enron must maintain its investment-grade credit rating. Three, Enron must successfully execute its divestiture plans. Four, Enron must control the timing of the recognition of the write-down in the value of any assets where market value is less than book.
Straightforward? Yes. Easy to accomplish? No.
Although Enron says additional write-downs are unlikely -- except a $200 million charge early next year as the result of an accounting change -- analysts aren't so sure. They're focused on the company's Global Assets portfolio, sporting $6 billion in book value but generating an EBIT (earnings before interest and taxes) loss of $18 million over the past 12 months.
The divestitures include $390 million in exploration and production assets in India, $250 million in a Puerto Rico power plant and $250 million in a Brazilian power plant in the fourth quarter as well as the pending sale of Portland General, which is set to close in 2002. There will likely be others. However, Enron has to execute here, and given the current state of its affairs, the seller will feel the pressure.
The credit-rating issue is a fine line. The current ratings, BBB+ from Standard & Poor's and Baa1 from Moody's, are three levels above non-investment grade. However, both rating agencies now have Enron on their radar screens for possible downgrades. Dietert estimates that Enron's debt-to-market cap will be about 48% by year-end, and the company has interest coverage (EBITDA/ interest expense) of about 3.5 times. By comparison, the average S&P BBB-rated company has a debt-to-cap of 47.4% and interest coverage of about 6.1 times. The average BB company has debt-to-cap of 61.3% and interest expense of 3.8 times.
Frankly, everything falls on Enron's management team and its ability to reassure investors. "If Enron's management does not step up to calm investor fears, these fears could become a self-fulfilling prophecy," Dietert says. "In the potentially vicious cycle, investor fears could drive stocks down; the lower stock prices force the rating agencies to consider downgrades; potentially lower credit ratings force counter-parties to reduce exposure to Enron, limiting Enron's ability to generate earnings and cash flow."
It's time for Enron to grow up. Despite a lot of uncertainties and risk, I think it will. Investors with risk capital should do their homework on the stock and think about strategy. It's a tough call that requires strict, individual discipline.
There's an irony to this whole story, especially in Enron's lack of candor in reporting its financial results. In a much-lauded advertising campaign, Enron, looking to challenge conventional wisdom, asks the simple question, "Why? Ask why."
Investors are now asking. It's time for Ken Lay to answer.
First Things First
Many readers have asked about my relative quietness this week. Thank you for your concern. My father has fallen ill after fighting the effects of a brain tumor for more than a decade.
The choice was easy. I'm with him and my family.
Enjoy your weekend with family and friends.

DJ Enron Unit,New England Market Downplay Report Of Default
2001-10-26 17:14 (New York)

   By Kristen McNamara
   Of DOW JONES NEWSWIRES

  NEW YORK (Dow Jones)--Enron Corp.'s (ENE) retail sales unit defaulted on its
credit requirement in New England's wholesale power market this month, but the
event was neither unique nor newsworthy, the energy company and the
organization that developed the market's rules said Friday.

  The operator of the region's wholesale power market informed Enron Energy
Services last week that, for the third time in 12 months, it had traded a
greater volume of electricity than allowed by the bond it had posted and was at
risk for expulsion from New England's market.

  But it was administrative mixups, rather than financial problems, that
triggered the warning, which a few other companies have also received in the
past, the market's rulemaker said.

  "I can state with considerable confidence that there have been other
participants" that have defaulted on their credit agreements, "and it's never
been in the news," said David Doot, secretary and general counsel for the New
England Power Pool, which developed the policies governing the region's
electricity market. "My instinct is that this is blown way the hell out of
proportion."

  News of the Enron unit's default appeared in a trade publication and a major
metropolitan newspaper this week, as Enron's dealings with partnerships headed
by its former chief financial officer contributed to a plunge in the company's
stock and bond prices.

  Enron Energy Services never received word that it had defaulted on its
bonding requirement twice before, because both times it corrected the problem
within a day, spokeswoman Peggy Mahoney said.

  The letter sent by ISO New England, which operates the region's power market,
to notify the Enron unit of its third violation was addressed to the wrong
person, delaying the company's response, Mahoney said.

  "Clearly, it was an administrative error that we immediately took care of to
ensure that we would never exceed the volume limit," Mahoney said.

  The company resolved the problem by Oct. 19, Mahoney said. ISO New England
spokeswoman Ellen Foley confirmed Friday that the company had cured its
default.

  It's rare for a company to default three times, but it has happened on
occasion, Foley and Doot said.

  "I won't say it's commonplace, but I won't say it's unusual for a participant
to find itself out of compliance," Doot said. "Those things have in fact
happened from time to time."

  -By Kristen McNamara, Dow Jones Newswires; 201-938-2061;

Enron Lawsuit Over Microsoft Broadband Agreement May Block MSN
2001-10-26 16:47 (New York)

Enron Lawsuit Over Microsoft Broadband Agreement May Block MSN

     Houston, Oct. 26 (Bloomberg) -- Enron Corp.'s lawsuit
alleging Microsoft breached a contract for broadband services
could temporarily block the largest software company's high-speed
Internet service in some U.S. regions.

     Microsoft said the dispute temporarily blocks the company
from providing the high-speed service in areas where Enron
provides broadband access, leaving MSN fully operational only in
the 14 states where Qwest Communications International Inc.
operates, said Bob Visse, director of marketing for MSN.

     Enron's lawsuit was filed yesterday. Microsoft had planned to
offer fast Internet access in 45 cities beginning yesterday to
give the largest software company access to potential customers in
29 million homes. Microsoft, the No. 2 U.S. Internet provider, is
making a push to win customers from AOL Time Warner Inc.

     ``We are trying to resolve the issues with Enron as quickly
as possible and at the same time we are evaluating other
providers,'' Visse said.

     Officials at Houston-based Enron, the largest energy trader,
did not immediately return calls for comment.

                         The Agreement

     Enron in June signed an agreement with Microsoft to provide
bandwidth for MSN Internet service. Under the agreement, Enron
isn't required to deliver operational broadband services if
Microsoft hasn't first provided a billing and ordering system, Dow
Jones newswire reported.

     Enron claims in its lawsuit that Microsoft failed to deliver
the ordering and billing system required in the initial phase of
the deal, Dow reported.

     Enron's lawsuit comes after Microsoft said in an Oct. 23
letter that Enron will have breached the contract if it hasn't
provided an operational bandwidth system by Oct. 25, allowing
Microsoft to recover damages.

     Shares of Redmond, Washington-based Microsoft fell 36 cents
to $62.20, while Enron shares fell 95 cents to $15.40.

--Joyzelle Davis in Los Angeles (213) 617-0582, or

Enron Executives Sent Requests for Details of Affiliate Profits
2001-10-26 15:36 (New York)

Enron Executives Sent Requests for Details of Affiliate Profits

     Houston, Oct. 26 (Bloomberg) -- Lawyers for a shareholder
suing Enron Corp. are asking executives of the largest energy
trader to disclose any income they made from their involvement
with affiliated companies that bought and sold Enron assets.

     Lawyers have made the requests to President Greg Whalley,
Vice Chairman Mark Frevert and Chief Financial Officer Jeff
McMahon and 83 other employees arrived at Enron's Houston offices
this week, said Paul Paradis, a partner in the New York law firm
Abbey Gardy. Requests also were sent to 17 Enron partnerships such
as Whitewing Management and Marlin Water.

     Paradis represents Fred Greenberg, an Enron shareholder who
is suing the company's board for allowing former Chief Financial
Officer Andrew Fastow to run partnerships that cost the company at
least $35 million in cash and $1.2 billion in lost shareholder
equity.

     The requests are aimed at determining if Enron executives
benefited financially from roles as officers and directors of
partnerships that bought and sold company assets. Enron formed at
least 18 such affiliated companies, listing executives and
employees as officers and directors of the partnerships, according
to Texas secretary of state records.

     Under Texas law, failure to respond to the document requests
will result in subpoenas being issued. Subpoenas could go out next
week if responses don't arrive by then, Paradis said. Enron
spokeswoman Karen Denne didn't respond to requests for comment
about the document requests.

     The executives earned no income from the partnerships, Enron
spokesman Mark Palmer has said. ``There are no financial interests
in the structures themselves for any Enron employee,'' Palmer
said. He said it's common for a company to name its executives to
the boards of affiliates.

                       Affiliates Have Debts

     Texas records show Chief Executive Officer Kenneth Lay,
Frevert, Whalley, McMahon and dozens of other people who list
their address as Enron's corporate headquarters serving as
officers and directors of limited liability companies and foreign
business corporations.

     The document requests ask Enron executives for information on
any form of compensation or benefit received from any of the
affiliates, including stock grants and options. They also ask the
executives to disclose any equity or partnership interests in the
affiliates.

     Enron formed many of the affiliates to buy company assets
such as power plants and natural-gas pipelines. That allowed Enron
to move debt associated with those projects off its books.

     The affiliates bought the assets with borrowed money. They
plan to repay the debt by eventually selling the assets. Enron
might be liable for any shortfall between the sales proceeds and
the debt. That could amount to at least $3.3 billion if the assets
don't generate any money, a remote possibility, the company has
said.

                            Few Answers

     Investors and analysts pressed Enron Chief Executive Officer
Kenneth Lay for details on the finances of the partnerships in a
conference call Tuesday.

     Today, Enron spokeswoman Karen Denne didn't respond to
questions about one of them, ES Power 3 LLC.

     Texas records list 78 Enron executives and employees as
officers, directors and managers of ES Power 3 LLC. The entire
Enron board is also listed.

     Shares of Enron $1.15 to $15.20 in late trading.

--Russell Hubbard in the Princeton newsroom at 609-750-4651, or at

Enron Still Target in California Amid Other Problems (Update1)
2001-10-26 16:15 (New York)

Enron Still Target in California Amid Other Problems (Update1)

     (Updates with closing share price in last paragraph.)

     Sacramento, California, Oct. 26 (Bloomberg) -- Enron Corp.,
facing an inquiry by federal securities regulators into
partnerships run by the former chief financial officer, remains a
target of investigations and lawsuits in California.

     California lawmakers and regulators have accused power
providers of manipulating the state's energy market to raise
prices. Enron, the biggest energy trader, and other power sellers
have denied the charges repeatedly.

     Next month, a California Senate committee investigating the
power market plans to hold a hearing to determine if Enron and
other generators are complying with subpoenas for trading
documents. Enron has been filing documents in Sacramento,
California.

     ``They are still putting documents in their depository, and I
don't think they've completed that process,'' said Alexandra
Montgomery, a consultant to the committee. It ``remains to be
seen'' whether Enron is complying with its subpoena, she said.

     The suits and inquiries came after wholesale power prices in
California soared, leaving the state's two largest utilities
insolvent. Under California's plan to open its electricity market
to competition, the utilities of PG&E Corp. and Edison
International weren't allowed to pass rising costs to customers.

     ``I know that we're doing our best to comply with what the
committee is asking for,'' Enron spokesman Mark Palmer. ``We are
putting documents in the depository, and we're looking forward to
a speedy resolution.''

     Shares of Houston-based Enron have fallen by more than half
since Oct. 16. The company ousted Andrew Fastow as the chief
financial officer Wednesday amid a U.S. Securities and Exchange
Commission inquiry into a partnership he ran that cost Enron $35
million.

                            Grand Jury

     Enron also is one of the companies being investigated for
civil and criminal violations by California Attorney General Bill
Lockyer, who convened a grand jury in June.

     Lockyer has been criticized by Enron officials for telling
the Wall Street Journal in May that he would like to put Enron
Chairman Kenneth Lay in ``an 8 x 10 cell that he could share with
a tattooed dude who says `Hi my name is Spike, honey.' '' Lockyer
later apologized for the remark.

     The attorney general's investigation is proceeding, Lockyer
spokeswoman Sandra Michioku said. Michioku said she didn't know
when civil or criminal charges against Enron or other power
providers might be filed.

     ``Our investigation is still being pursued,'' she said. ``We
had to go to court to get Enron to turn over documents, so that
slowed things down a bit.''

     Enron's Palmer said he didn't know the status of the attorney
general's investigation.

     ``I think the attorney general demonstrated his willingness
to take a fair and impartial look a long time ago when he made his
vulgar and unfounded remarks about our chairman,'' Palmer said.

                           More Lawsuits

     Enron, along with other major power providers such as Duke
Energy Corp. and Dynegy Inc., face at least five lawsuits alleging
they manipulated California energy prices in violation of
antitrust laws.

     The cases, which include separate complaints filed by the
City of San Francisco, California Lieutenant Governor Cruz
Bustamante and various consumers, currently are in state courts
awaiting a coordination proceeding, said Michael Aguirre, a lawyer
representing Bustamante. The lawsuits should be assigned to a
judge by the end of next month, he said.

     If the complaints succeed, the companies might be ordered to
repay profits from any illegal activities and pay fines, including
triple damages.

     Enron's stock fell 95 cents, or 5.8 percent, to $15.40,
declining for the eighth day in a row. The shares have fallen 80
percent in the past 12 months.

--Daniel Taub in Los Angeles, (323) 801-1261 or

Enron Bonds Fall as Company Taps $3 Bln Credit Line (Update5)
2001-10-26 16:18 (New York)

Enron Bonds Fall as Company Taps $3 Bln Credit Line (Update5)

     (Adds investor comment in fourth paragraph.)

     Houston, Oct. 26 (Bloomberg) -- Enron Corp. bonds and shares
fell after the largest energy trader tapped a $3 billion credit
line because it has been shut out of the leading market for low-
interest, short-term loans.

     The company's stock has fallen 54 percent in the past 14 days
after investors questioned its transactions with affiliates run by
Enron's former chief financial officer. The shares fell 95 cents,
or 5.8 percent, to $15.40 today.

     Chief Executive Officer Kenneth Lay has failed to reassure
investors that the company's credit rating won't be cut, investors
said. Enron can no longer borrow in commercial paper markets,
where short-term loans carry lower rates than banks offer.

     ``Do they have the financial flexibility they once had? No,''
said John Cassady, who helps manage $3 billion in bonds at Fifth
Third Bancorp. ``People are questioning the credibility of
management.''

      The company will use its credit line to pay off $2.2 billion
in commercial paper it has outstanding, Enron spokesman Mark
Palmer said.

                            Bonds Drop

     Enron's 6 3/4 percent bonds, which mature in 2009, declined 1
1/2 points to a bid of 84 cents on the dollar and an offer of 86
cents. At that price, the bonds, which carry a rating of ``BBB+,''
yield 9.53 percent.

     Investors have grown concerned that the company's credit
rating will be cut after $1.01 billion in third-quarter losses
from failed investments. Enron needs good credit to raise cash
daily to keep trading partners from demanding collateral and to
settle transactions.

     Enron's decision to tap its credit line was ``a smart
financial move,'' said Stephen Moore, a vice president at Moody's
Investors Service who follows the company. ``It took away the
hassle and time-consuming nature of rolling commercial paper and
insured access to capital.''

     Though Enron's bonds have investment-grade ratings, their
yield at current prices is higher than those of industrial bonds
that carry junk ratings. According to Bloomberg data, companies
with ``BB'' ratings pay on average 9.16 percent to borrow for
seven years.

     A lower credit rating may also force Enron to buy back
holdings in other partnerships with its stock, diluting the value
of Enron investors' stock.

     Partnerships called Whitewing, Marlin and Yosemite own Enron
assets they bought with borrowed money. Enron sold the assets to
the partnerships to keep related debt off its books. The
partnerships plan to repay the borrowed money by selling the
assets.

                         Other Liabilities

     If Enron loses investment-grade rating, the borrowed money
comes due earlier, leaving less time for the partnerships to find
the best price for the power plants and other assets. Enron would
have to make up any shortfall between what the assets would sell
for and the amount of the debt.

     One way would be issuing common shares to exchange for Enron
preferred convertible shares held by the partnerships. That would
thin out the holdings of every other investor.

     Of the two main bond-rating companies, Moody's and Fitch have
Enron on watch for possible downgrade, and Standard & Poor's
lowered Enron's long-term credit outlook to negative. Egan-Jones
Rating Co. today lowered its rating on Enron's debt to ``BB+,''
one notch below investment grade, from ``BBB-.''

     Enron's liabilities associated with the partnerships amount
to at least $3.3 billion, the company has said.

     Enron ousted Chief Financial Officer Andrew Fastow on
Wednesday amid a Securities and Exchange Commission inquiry into a
partnership he ran that cost the company $35 million in direct
losses. Enron also bought back 62 million shares from the
partnership, reducing shareholder equity by $1.2 billion.

     ``It looks like the guy who was supposed to do everything for
the benefit of shareholders was running partnerships for the
benefit of himself,'' Fifth Third's Cassady said.

     Jeff McMahon, head of Enron's industrial markets group, was
named CFO in a bid to restore investor confidence, Lay said in a
statement.

--Russell Hubbard in the Princeton newsroom at 609-750-4651, or at

Keller Rohrback L.L.P. Investigates Potential Claims on Behalf of Enron Corp. -- ENE -- Employees and Former Employees

10/26/2001
Business Wire
(Copyright (c) 2001, Business Wire)

SEATTLE--(BUSINESS WIRE)--Oct. 26, 2001--Seattle's Keller Rohrback L.L.P. is currently investigating potential ERISA claims on behalf of participants and beneficiaries of Enron's retirement and 401(k) plans.
The investigation period covers January 2000 through October 2001. The investigation focuses on concerns that, under the law interpreting ERISA, Enron and its plan administrators may have breached their fiduciary duties of loyalty and prudence by failing to disclose and inform the Plan participants and beneficiaries with respect to the use of employer stock as a Plan investment. Rather than providing complete and accurate information to the Plans' participants, it may be alleged that Enron and the plan administrators may have withheld and concealed material information, thereby encouraging participants and beneficiaries to continue to make and to maintain substantial investments in company stock and the Plans. This investigation is being conducted in light of recent events.
On Oct. 16, 2001, Enron surprised the market when it announced that the Company was taking "non-recurring charges totaling $1.01 billion after-tax, or ($1.11) loss per diluted share," in the third quarter of 2001. Enron later revealed that a material portion of the charge related to the unwinding of investments with certain limited partnerships, controlled by Enron's CFO, and that the Company would be eliminating more than $1 billion in shareholder equity as a result of its unwinding of the investments. As this news began to be assimilated by the market, the price of Enron common stock dropped significantly. In addition, several recently filed securities suits allege that Enron executives engaged in extensive insider trading, gaining millions of dollars in personal proceeds. Enron retirees have lost a substantial portion of their retirement earnings due to the drop in value of their retirement assets.
If you are a member of an Enron retirement plan, wish to discuss this announcement, or have information relevant to the investigation, you may contact paralegal Liza Catabay, or any member of our team (Britt Tinglum, Liza Catabay, or Lynn Sarko) toll free at 800/776-6044, or via e-mail at investor@kellerrohrback.com.
Seattle's Keller Rohrback L.L.P. has successfully represented shareholders and consumers in class action cases for over a decade. Its trial lawyers have obtained judgments and settlements on behalf of clients in excess of seven billion dollars.

CONTACT: Keller Rohrback L.L.P. Liza Catabay, 800/776-6044 investor@kellerrohrback.com www.SeattleClassAction.com
15:16 EDT OCTOBER 26, 2001
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.


Attached is a resume for a gentleman who has relocated as a trailing expat
spouse to Houston, who we are looking to find a suitable position somewhere
in Enron. I know that one or two of you have already seen his resume and at
the time didn't necessarily have a role for him. I would be very grateful if
you could take another look and see if anything has now changed.

By way of background, he was previously working with Eastern in the UK in a
back office capacity looking at their approach to the UK Gas regulatory
framework known as the Network code. He has done a little consulting work
since relocating to Houston in the online area. His references are very good.
He is available with immigration clearance as a local hire, probably at
Senior Specialist level. As an additional "incentive" I would be prepared to
underwrite his costs in the event you decided in the first 6 months that his
performance did not meet your expectations (Obviously - I am highly confident
this will not be the case!).


Bill Williams has all of  the details on how to deal with this length.

C


Entergy has joined the SE Trans RTO (Southern, etal).  I will review the FERC filing; however, an Entergy rep called me today to ask for Enron's support stating that the new RTO proposal includes:

-- Independent Market Operator (he said such as PJM)
-- No Day Ahead Balanced Schedules
-- LMP
-- One OASIS and one Tariff (no separate tariff for Entergy's ITC)
-- One Security Coordinator
-- Initial license plate rate within Entergy area
-- local planning in Entergy footprint

He also said that they are trying to have the GridSouth group agree to use the same Independent Market Operator so there would be one market structure for the Southeast.

Hopefully, the filing reflects this -- more later.  Christi

-----Original Message-----
From: Connor, Joe
Sent: Monday, November 26, 2001 1:51 PM
To: Nicolay, Christi L.
Cc: Staines, Dan; Nord, Sue; Robinson, Marchris
Subject: SeTrans Update

Attached is an announcement on SeTrans adding Entergy as a member and setting dates for meeting in Atlanta in Jan. 2002 to form stakeholder group.  I haven't seen the update they provided to FERC.  I'll find it and get you a copy.


I apologize if you have received previous confirmations.  I am having some
problems with my e-mail.

This e-mail will confirm the site visit by your company at LV Cogen I & II.
The relevant information is as follows:

	LV Cogen
Site Visit Date	Wednesday, October 25, 2000
Site Visit Time	8:00 AM to 12:00 PM
Directions to Hotels/Site	See DealBench - LV Cogen (Section V through End) Due Diligence
List/Plant Pictures Section
Meeting Time/Place	Las Vegas Cogen
	1701 East Alexander Road
	North Las Vegas, NV  89030

	Meet Bill Williams at 8:00 AM
Enron Site Visit Coordinator	Bill Williams
	503.464.8958 (O)
	503.704.9801(M)
	bill.williams@enron.com
Enron Site Visit Team	Bill Williams
	Dan Hammonds
	Mark Mullen
	Plant Manager
	Plant Engineer

Pursuant to the Site Visit Procedures sent you by CSFB, if you have not
already done so, please send me the following:
List of your team members and titles
For outside consultants, state their employer
Name, phone number (office and mobile) and e-mail address of your designated
deal team leader

Lastly, I will serve as the due diligence coordinator for LV Cogen I & II,
handling all questions and responses.  Should you have any due diligence
questions or require copies of any oversized documents, please contact me at
713.345.8992.


Happy Birthday Marty.  I hope you have a good day and a wonderful evening
too.  I sent you an e-card a while ago.

I found out yesterday that I have to be in DC the week of November 5.  I'm
still up in the air about what days I'll go to Arkansas and will only stay
one or two nights.  I'll probably stay with Mother and Caroline.  I did find
a list of the bathhouses in Hot Springs where you can get a massage so I'd
love to have one.   I'll talk with you later.

Mom


ARTICLES INCLUDED IN THE BINDER

FYI ARTICLES - NOT INCLUDED IN BINDER    ARTICLES EMAILED TO REBECCA SMITH -
WSJ


I think that there may be a slight misunderstanding here.

Here are the major differences between Cross-Desk and Cross-Portfolio deals...

Cross-Desk deals are:
? Flagged as desk-to-desk
? NOT scheduled

Cross-Portfolio deals are:
? Flagged as NON-desk-to-desk
? scheduled depending on the deal type (e.g. Forwards are scheduled,
Emissions are not)

The new deals in question are entered into the system as Cross-Portfolio
deals because of the WEST - ENAEXEC portfolio relationship.  Because these
deals were scheduled, they were showing up in Real Time.  By the way, I think
I was talking to Carla (not Cara) about Real Time.  I apologize about the
error.  I cannot explain why the deals are not showing up in Forward
Obligation.

As you said, perhaps Duong Luu can resolve the issue later this week.

Thanks,
Will

 -----Original Message-----
From:  Lande, Monica
Sent: Tuesday, February 06, 2001 10:47 AM
To: Will Smith/HOU/ECT@ENRON
Cc: Sabo, Valarie; White, Stacey
Subject: RE: 487392 showing up as Phys when it is a cross-desk

Will,

I talked to Cara, and she does not agree with what you have stated below.
She said that cross-desk deals should never show up in real-time position
manager.  Stacey is also correct,  we have always been able to see
cross-desks in Forward Obligations - this is not a new development.   Duong
Luu will be in the Portland office Thursday and Friday,  perhaps we can
resolve this issue at that time.

Thanks,
Monica

To: Will F Smith/ENRON@enronXgate @ ENRON
cc: Monica Lande/PDX/ECT@ECT, Valarie Sabo/PDX/ECT@ECT
Subject: RE: 487392 showing up as Phys when it is a cross-desk   << OLE
Object: StdOleLink >>

I do not understand why they would not show up in forward obligation.
Currently, forward obs reads from Deal Entry and if they choose the region /
delivery point that these deals are entered under they should automatically
show up.  Maybe the forward obs is not recognizing the new portfolio.

Stacey

From: Will F Smith/ENRON@enronXgate on 02/05/2001 03:08 PM
To: Monica Lande/PDX/ECT@ECT, Stacey W White/HOU/ECT@ECT
cc:
Subject: RE: 487392 showing up as Phys when it is a cross-desk

Since I am not sure we have resolved this issue yet...

If EnPower is not recognizing the change from WEST-EAST to WEST-WEST...
EnPower needs to be fixed.  We can manually fix any deals that are still in
error.

Recently there has been the addition of ENAEXEC.  And some WEST-ENAEXEC deals
have been created.
? Should these deals appear in scheduling (according to Cara, they should at
least show up in Real Time)?
? Should these deals show up in Forward Obligations?  This is something that
Portland has hinted at wanting.

Please let me know how we should start handling these new deals.

Thanks,
Will

 -----Original Message-----
From:  Lande, Monica
Sent: Tuesday, January 23, 2001 1:02 PM
To: White, Stacey
Cc: Smith, Will F.
Subject: Re: 487392 showing up as Phys when it is a cross-desk

Stacey,

I think what happened was that originally this deal was entered into with
ST-NW as the desk and LT-MGMT as the counterparty.  Since LT-MGMT is either
in the East or Financial Portfolio (I'm not sure - is that Lavorato's book?),
and ST-NW is in the West Portfolio, it originally showed up as an outside
counterparty in scheduling.  When the desk got changed to LT-WMGMT (West
Portfolio), it should have flipped to an interdesk, which does not show up in
scheduling.  Evidently, it didn't.

If Enpower won't automatically recognize the change in counterparty
correctly, I guess we will have to kill the deals and rebook them, rather
than change the desk.

Let me know what you think.

Thanks,
Monica

To: Monica Lande/PDX/ECT@ECT
cc: Will Smith/HOU/ECT@ECT
Subject: Re: 487392 showing up as Phys when it is a cross-desk

Can you talk to Cara and see why this is a problem for her?

Stacey
---------------------- Forwarded by Stacey W White/HOU/ECT on 01/18/2001
10:42 AM ---------------------------
Will Smith   01/18/2001 07:05 AM
 << OLE Object: Picture (Device Independent Bitmap) >>
To: Stacey W White/HOU/ECT@ECT
cc:
Subject: Re: 487392 showing up as Phys when it is a cross-desk

Stacey,

Were you able to talk with Cara about cross-portfolio deals?

Will Smith
x37486

----- Forwarded by Will Smith/HOU/ECT on 01/18/2001 07:04 AM -----

	Cara Semperger 01/09/2001 05:45 PM 	  To: Will Smith/HOU/ECT@ECT  cc: Diana
Scholtes/HOU/ECT@ECT, Sean Crandall/PDX/ECT@ECT  Subject: Re: 487392 showing
up as Phys when it is a cross-desk << OLE Object: StdOleLink >>

wsmith 10-Jan-01:
Sent email to Stacey asking her to explain the difference between cross-desk
and cross-portfolio deals.

Yes, this is coming up as a consistent problem, these cross-portfolio deals
are throwing us off balance.  Why are they marked physical? There is no
delivery.

I don't think these should be marked physical.

c

Will Smith   01/09/2001 03:44 PM
 << OLE Object: Picture (Device Independent Bitmap) >>
To: Cara Semperger/PDX/ECT@ECT
cc:
Subject: Re: 487392 showing up as Phys when it is a cross-desk   << OLE
Object: StdOleLink >>

Cara,

I noticed that this deal was since changed from cross-portfolio to
desk-to-desk.  Is there still an issue here?
FYI, all cross-portfolio deals are entered with the scheduled flag set to
"yes".

Will

	Duong Luu 01/02/2001 06:05 PM 	   To: Will Smith/HOU/ECT@ECT, Kroum
Kroumov/Corp/Enron@ENRON  cc: Nadine Costanzo/Corp/Enron@Enron, Laura
Aldis/NA/Enron@ENRON  Subject: 487392 showing up as Phys when it is a
cross-desk

Will,

Please research and fix this problem

dluu

----- Forwarded by Duong Luu/HOU/ECT on 01/02/2001 06:09 PM -----

	Cara Semperger 01/02/2001 04:06 PM 	   To: Duong Luu/HOU/ECT@ECT  cc: Donald
Robinson/PDX/ECT@ECT, Diana Scholtes/HOU/ECT@ECT, Sean Crandall/PDX/ECT@ECT,
Kate Symes/PDX/ECT@ECT, Michael Tully/PDX/ECT@ECT  Subject: 487392 showing up
as Phys when it is a cross-desk

please Check that Deal_Schedule_yn flag to no on this.

We need to fix the underlying bug when we get a chance.  I think it is more
related to the cross desk deals done with EPMI LT WMGMT instead of EOL

c


RE: 468302

Sean Crandall just changed this deal to reflect only a December term. Prebon
was right on this.

Thanks,
Kate

Evelyn Metoyer@ENRON
11/28/2000 02:11 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: 11-28-00 Discrepancies

Matt Motley
deal 468359
error:  Amerex shows Enron as seller not buyer

Bob Badeer
deal 468404
error:  Amerex shows price as $134.50 not $134.45

Bob Badeer
deal 468405
error:  Amerex shows price as $134.55 not $135.00

Mike Swerzbin
deal 468302
error:   Prebon shows December only

Jeff Richter
deal 468427
Prebon shows price as $177 not $197

Jeff Richter
I am missing the following deals per Prebon:
Enron sells to Tractebal Q3 PV at $175
Enron buys from Tractebal Q3 SP-15 at $145

Thanks!!


Siva,     I will have to check and see if we can accomodate a 5 day 8 to 5
class.    Also, President's day is a holiday for us, so we may have to look
at a later date.

--Stinson

"Siva Thiagarajan" <siva@durasoftcorp.com> on 01/29/2001 08:51:02 AM
To: <Stinson.Gibner@enron.com>
cc:
Subject: Re: DuraSoft -- Java Class

Stinson,

I have attached a file along with this email
that lists the software needed for our
Java class.

We would like to do the class from Monday thru
Friday, 8 AM to 5 PM.  That way we can complete
the class within a  week.  We are unable to offer
classes in the evenings or for few hours a week.
We usually teach week long courses for our
other clients and because of that  we won't
be available.

Currently, we can do the class from Feb. 19th
through Feb. 23 (that is if you are working on
Feb 19th, President's day).

I will call  you sometime this afternoon to talk
further.  Please feel free to reach me if you have
any further questions in the mean time.

Regards,

- Siva

-----Original Message-----
From: Stinson.Gibner@enron.com <Stinson.Gibner@enron.com>
To: siva@durasoftcorp.com <siva@durasoftcorp.com>
Date: Friday, January 26, 2001 5:52 PM
Subject: Re: DuraSoft -- Java Class

>
>Siva,
>
>A few additional questions.   Can you tell me what software would be
>required for the students?   Also,  when would Venkat be available to start
>the class and what type of schedule would you recommend?   Would having two
>hour classes twice a week from, say, 4-6 PM work?  We have a high level of
>interest and just need to iron out the details.   Feel free to call me
>(late afternoon on Monday might be best) at 713 853 4748 or email.
>
>--Stinson
>
>
>

 - JavaSoftwareNeeds.htm


It has come to my attention that the Richardson PNR rate was less than previously reported....It also gave me an opportunity to corrected a mathematical error in my original e-mail.

I apologize for any inconvenience.

MBOD

 -----Original Message-----
From: 	Bodnar, Michael
Sent:	Wednesday, December 26, 2001 9:44 AM
To:	Moore, Jan; Hanagriff, Richard; Lohman, TK; Lokay, Michelle
Cc:	Blair, Lynn; Watson, Kimberly; Kowalke, Terry; Schoolcraft, Darrell
Subject:	TW PNR for December 1st - 26th, 2001

PNR thru December 26th:

Buyer		PO#	POI	 	Dekatherm 	 Rate/Dth 	 Daily/Total	 Invoice Amount
PNM		27267	500617		15,000 	 	$0.0900 	 Total		 $1,350.00
PNM		27267	500617		10,000 	 	$0.1000 	 Daily		 $3,000.00
Virginia Power	27719	500623		14,514 	 	$0.0500 	 Daily	 	 $5,866.97
Richardson	27249	500622		15,000 	 	$0.0200 	 Daily	 	 $   900.00
Cinergy 	27467	500621		17,600 	 	$0.1000 	 Daily	 	 $6,540.00

TOTALS				72,114 						 $17,656.97


EnronOptions Announcement

You can now access a web site that describes EnronOptions ) Your Stock Option
Program.  The web site contains some highlights of the EnronOptions Program
as well as some Frequently Asked Questions (FAQs).

Access EnronOptions ) Your Stock Option Program web site by clicking on
http://hrweb.enron.com or by typing the address into your web browser.

We hope you find the site helpful in addressing your questions about the
EnronOptions Program.  If you have any questions, please contact your H.R.
Representative.

There will be several EnronOptions - Your Stock Option Program presentations
throughout the month of January.  Stay tuned to a computer near you for
details.


Thanks, but ain't gonna happen this week.  We'll have to wait till he gets
back.

Best,
Jeff

	Rob Bradley
	06/04/2001 08:02 AM

		 To: Jeff Dasovich/NA/Enron@Enron
		 cc:
		 Subject: Open Letter

Can I put this ball in your court in case you want to move forward?

- Rob

----- Forwarded by Rob Bradley/Corp/Enron on 06/04/2001 08:01 AM -----

	David Theroux <DTheroux@independent.org>
	06/03/2001 03:54 PM

		 To: rbradle@enron.com (Rob Bradley)
		 cc:
		 Subject: Hello

Dear Rob,

I will be out of the country for two weeks starting this coming
Saturday.  As a result, if you are interested in our doing an Open
Letter of energy price controls, please let me know ASAP.

Best regards,

David
--
David J. Theroux
Founder and President
The Independent Institute
100 Swan Way
Oakland, CA 94621-1428
510-632-1366 Phone
510-568-6040 Fax
DTheroux@independent.org
http://www.independent.org


Christian:  1 pm Portland time on Friday - we'll call you

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com
----- Forwarded by Sara Shackleton/HOU/ECT on 06/06/2001 09:29 AM -----

	Holly Keiser@ENRON_DEVELOPMENT
	06/06/2001 07:56 AM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: RE: Schedule meeting with Mark Taylor

Thank you... it's on Mark's calendar (3:00 pm - Friday, June 8)

Holly Keiser
Enron Americas
Legal Department - EB 3887
713-345-7893 (ph)
713-646-3490 (fx)
Holly.Keiser@enron.com

	Sara Shackleton@ECT
	06/05/2001 06:32 PM

		 To: Holly Keiser/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
		 cc:
		 Subject: RE: Schedule meeting with Mark Taylor for Thursday, June 7

Let's schedule this please.

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com
----- Forwarded by Sara Shackleton/HOU/ECT on 06/05/2001 06:31 PM -----

	Christian Yoder/ENRON@enronXgate
	06/05/2001 05:45 PM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: RE: Schedule meeting with Mark Taylor for Thursday, June 7

Good.

 -----Original Message-----
From:  Shackleton, Sara
Sent: Tuesday, June 05, 2001 2:31 PM
To: Yoder, Christian
Subject: RE: Schedule meeting with Mark Taylor for Thursday, June 7

Christian:  How is 3 pm Houston/1 pm  Portland on Friday?

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

	Christian Yoder/ENRON@enronXgate 06/05/2001 11:07 AM 	   To: Sara
Shackleton/HOU/ECT@ECT  cc:   Subject: RE: Schedule meeting with Mark Taylor
for Thursday, June 7

3:30 Thursday, Central Time happens to fall exactly to the minute on a time
when I have to be on the phone with Mark Haedicke and Elizabeth Sager.  I
cannot move that time.  Can we go earlier or move it to Friday?  I am trying
to get the cases to you as soon as I can. ----cgy

 -----Original Message-----
From:  Shackleton, Sara
Sent: Tuesday, June 05, 2001 7:07 AM
To: Yoder, Christian
Subject: Re: Schedule meeting with Mark Taylor for Thursday, June 7

Christian:  Please mark this time on your calendar to speak with Mark T.:
3:30 Houston/1:30 Portland.  We'll call you.

Will Pat Boylston send over 1 or 2 cases for us to review prior to the call?

Thanks.

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com
----- Forwarded by Sara Shackleton/HOU/ECT on 06/05/2001 09:00 AM -----

	Holly Keiser@ENRON_DEVELOPMENT 06/05/2001 08:36 AM 	  To: Sara
Shackleton/HOU/ECT@ECT  cc:   Subject: Re: Schedule meeting with Mark Taylor
for Thursday, June 7 << OLE Object: StdOleLink >>

Sorry... you mentioned that in the subject line.

3:30 pm on Thursday.

Holly Keiser
Enron Americas
Legal Department - EB 3887
713-345-7893 (ph)
713-646-3490 (fx)
Holly.Keiser@enron.com

	Sara Shackleton@ECT 06/05/2001 08:19 AM 	  To: Holly
Keiser/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT  cc:   Subject: Re: Schedule
meeting with Mark Taylor for Thursday, June 7 << OLE Object: StdOleLink >>

I'd like to meet Thursday, June 7

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

	Holly Keiser@ENRON_DEVELOPMENT 06/05/2001 07:34 AM 	  To: Sara
Shackleton/HOU/ECT@ECT  cc:   Subject: Re: Schedule meeting with Mark Taylor
for Thursday, June 7 << OLE Object: StdOleLink >>

Sara -- I've scheduled 3:00 PM following today's Legal/Credit meeting.  If
you prefer later, please let me know.

Thanks!
Holly Keiser
Enron Americas
Legal Department - EB 3887
713-345-7893 (ph)
713-646-3490 (fx)
Holly.Keiser@enron.com

	Sara Shackleton@ECT 06/04/2001 06:12 PM 	   To: Holly
Keiser/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT  cc:   Subject: Schedule meeting
with Mark Taylor for Thursday, June 7

Does Mark have time in the afternoon to meet with me and Christian Yoder
(Portland - 2 hours earlier than CST)?  The topic is "Washington State
PUD's".  I'd schedule about an hour.  Thanks.

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


Hi Folks,

Once again, our Footballguy Scott Luebke throws out what he sees for this
week's Upgrades and Downgrades.

Enjoy.

Joe

/**/**/**/**/**/**/**/**/**/**/**/**/**/**/**/**/

Upgrades

QB - Tom Brady - Brady has remains the starter in New England despite the
return of Drew Bledsoe from injury.  Some analysts may question the fact
that Bledsoe lost his job due to an injury, but no one can question Brady's
effectiveness on the football field.  A 258 yard, 4 touchdown performance
keeps Brady entrenched as the Patriots starter.  Keep in mind, the Patriots
have a bye in week 16.

QB - Kordell Stewart - Stewart looked good on Sunday with his second
consecutive multiple touchdown game.  Stewart finished the game with 254
passing yards, 54 rushing yards and 3 total touchdowns.  The schedule looks
good for Stewart down the stretch, especially with games against Detroit and
Cincinnati in weeks 15 and 16.

QB - Jay Fiedler - Fiedler has found a quality weapon in rookie Chris
Chambers.  Fiedler has been an up and down quarterback this season, but his
upside is good.  A quality schedule throughout the remainder of the season
should allow ample opportunity for solid fantasy stats.

QB - Alex Van Pelt - Since stepping into the lineup for Rob Johnson, Van
Pelt has been a fantasy star.  With two consecutive 300+ yards games to
match with 5 touchdowns, Van Pelt deserves starter consideration against
weaker opponents.  Look for another quality performance against the 49ers
this weekend.

RB - Dominic Rhodes - With Edgerrin James sidelined for the season, Rhodes
has been asked to do a lot in the Colts offense.  He produced on Sunday with
147 total yards and 2 touchdowns.  Two consecutive difficult games against
Baltimore and Miami will slow Rhodes down, but a strong finish to the season
is in store.  With Manning and the passing game throwing interceptions, look
for Coach Mora to run a more conservative offense featuring Rhodes.

RB - Antowain Smith - Smith jumps into the upgrades category once again with
153 total yards and 2 touchdowns.  However, now is the time to trade Smith
away.  His value has hit an all-time high and the remainder of the season
will be difficult with Cleveland, Miami and a bye week remaining.

RB - Ahman Green - Green has struggled the last few weeks, but was able to
bust out on Thanksgiving Day with 150 total yards and 2 scores.  Look for
the Green Bay offense to revolve around Green for the remainder of the
season.  As the winter weather approaches, Favre and the passing game will
become more conservative, which will result in more dump off passes to the
talented Green.  Don't be surprised if Green receives 30+ touches/game the
remainder of the season.

RB - LaDainian Tomlinson - Tomlinson's statistics have suffered over the
last several weeks with the opposition focusing on the run.  In order to get
the ball in Tomlinson's hands more often, Turner called several short
passing plays to get LT in the open field.  The plan was successful as
Tomlinson caught 13 passes for 72 yards.  The fantasy playoffs look good for
Tomlinson with Oakland, Kansas City and Seattle on the schedule for weeks
14, 15, and 16.

RB - Garrison Hearst - Hearst looked strong again on Sunday with 106 rushing
yards and 2 touchdowns.  In the last 4 games, Hearst has averaged 106
rushing yards/game.  With rookie Kevan Barlow separating his shoulder on
Sunday to go along with an already injured quad, Hearst will continue to see
20+ touches per game and be a quality fantasy option in the fantasy playoffs
as long as he remains healthy.

WR - Derrick Alexander - Good news for Alexander owners...it appears that he
is 100% healthy for the first time this season.

WR - Eric Moulds - Throughout the week, Moulds was complaining about the
lack of balls thrown in his direction and how the team was using him.  Well,
the complaint department contacted management and Moulds got the ball.  What
happened when the ball was thrown to Moulds?  He produced (196 yards and 2
touchdowns).

WR - Chris Chambers - The talented rookie struck once again on Sunday with
101 receiving yards and 2 fabulous touchdowns.  Chambers is the big play
threat in the Miami offense and should continue to see action.  Keep in
mind, Chambers is a boom/bust option at receiver.  He'll dazzle you one week
and disappear the next week.  This guy is going to be special, so grab him
in dynasty leagues.

WR - David Boston - Plain and simple...the man.  A few weeks ago, the knock
on Boston was his lack of touchdown scoring.  Well, 4 touchdowns in 3 weeks
should quiet the critics.

WR - Kevin Johnson - Johnson jumped back in the scoring column on Sunday
with 113 yards and a touchdown.  Johnson is Tim Couch's clear cut #1
receiver and should remain a consistent fantasy threat for the rest of the
season.

WR - Troy Brown - Brown continues to produce quality numbers on a consistent
basis.  With 7 catches for 91 yards and a touchdown on Sunday, Brown
continues to have a quality rapport with QB Tom Brady.  Keep in mind, New
England has a bye in week 16, so Brown will not be available for the
majority of championship games.  Plan accordingly.

/**/**/**/**/**/**/**/**/**/**/**/**/**/**/**/**/

Downgrades

QB - Trent Green - Green's disappointing season continues.  He looked good
with 256 passing yards and zero interceptions on Sunday.  However, he was
unable to throw any touchdowns and that stat leads to the downgrade.  With
the healthy return of Alexander at wide receiver, Green's stock could be on
the rise in the near future.  Green's value is at its lowest point, so you
could probably get him for relatively cheap.  He's not an every week
starter, but he might have a few big games left for this season.

QB - Donovan McNabb - McNabb has looked horrendous in the pocket over the
last two weeks (221 passing yards and 1 touchdown).  His pride of wanting to
be a quality pocket passer is getting in the way of his production.
McNabb's value will be dependent on his ability to scramble and make some
plays. Right now, McNabb should still be considered a top 10 fantasy
quarterback.  However, if his lack of production continues, his stock will
drop quickly.

QB - Brian Griese - Griese's receiving options are limited, which is
directly affecting his production.  Rod Smith limped through Thursday's game
with an ankle injury.  A healthy return of Smith will boost Griese's stock.
However, Griese needs some quality production from the other receiver
position.  His production is limited, if he is forced to throw to the tight
end position the majority of the time.

QB - Daunte Culpepper - Culpepper did not pass/score a touchdown for the
first time in his two seasons as the starting quarterback for the Vikings.
Another difficult challenge at Pittsburgh is upcoming this week.

RB - Anthony Thomas - Thomas was held out of Sunday's game with a hamstring
injury.  He's expecting to play this weekend against Detroit, but this is
not a guarantee.  With James Allen being effective, it would not surprise me
to see the Bears hold Thomas out for another game to ensure a healthy
hamstring for the stretch run towards the playoffs.  A big game looms in two
weeks against Green Bay and the Bears will need a healthy Thomas in that
game.

RB - Emmitt Smith - Smith was held to 9 yards on 9 carries during the
Thanksgiving Day game.  Until the Cowboys can establish a passing game,
Smith's numbers will remain meager.

RB - Ron Dayne - With Tiki Barber establishing himself as the first option
in the rushing game, Dayne's fantasy value has dropped very low.  Dayne had
26 yards on 6 carries.  Barber had 124 rushing yards on 19 carries, 5
receptions for 41 yards and a touchdown.  Keep Dayne on your bench.

RB - Jason Brookins - Brookins broke his foot in Sunday's game against the
Jaguars.  He is expected to be out for 4-6 weeks.  Drop him and add someone
else to the roster.

RB - Eddie George - George's disappointing season continues with 58 yards on
15 carries this past Sunday.  George is currently tied with Randy Moss for
"Fantasy Disappointment of the Year".

RB - Maurice Smith - Smith sprained his ankle on Sunday and managed to
return to the game.  However, Smith gained a meager 57 yards on 21 carries
and seemed to be bother by the ankle sprain.  Evaluate his progress later
this week.

WR - Jimmy Smith - Smith tested positive for cocaine in his system after
being pulled over by police.  No legal action will occur, but some sort of
suspension could be handed down by the commissioner's office.  Not a good
sign as we head closer to the fantasy playoffs.

WR - Peter Warrick - Warrick suffered a bruised shoulder against Cleveland
on Sunday. He was held to 1 reception for 22 yards and has not scored a
touchdown since week 4 of the season.  Keep him on your bench until the
Cincinnati passing game reappears.

WR - Randy Moss - Moss was held to 25 yards on 4 catches Sunday night.  Moss
is the most talented receiver in the league, but appears to lose
concentration from time to time.  Keep in mind, his potential for explosive
games is enormous.

/**/**/**/**/**/**/**/**/**/**/**/**/**/**/**/**/

Waiver Wire

Keep in mind, the waiver wire analysis selections are based off of 12 and 14
team leagues.

QB - Alex Van Pelt - Since stepping into the lineup for Rob Johnson, Van
Pelt has been a fantasy star.  With two consecutive 300+ yards games to
match with 5 touchdowns, Van Pelt deserves starter consideration against
weaker opponents.

RB - James Allen - Allen stepped in for the injured Anthony Thomas and
performed admirably.  With Thomas bothered by a hamstring injury, it's
highly possible that Allen could start against the lowly Detroit Lions this
weekend.  Chicago's defense is strong and the Bears like to grind it out on
the ground.

RB - Travis Minor - With Lamar Smith averaging just 2.3 yds/carry over the
last 6 games, Minor may be given his opportunity to shine very soon.  In his
limited touches, Minor has looked good and could give the Dolphins offense a
much needed spark.

WR - Chris Chambers - This guy is good.  See description in upgrades
section.

TE - Eddie "Boo" Williams - I had Williams on the list last week and his
play on Sunday deserves another mention.  Although he had just 2 catches for
44 yards, Williams has explosive potential.  He nearly scored on a 25 yard
pass play, but had the ball ripped out of his hands at the last second.
With Cam Cleeland remaining out with an injury, Williams is a tight end with
quality upside.

/**/**/**/**/**/**/**/**/**/**/**/**/**/**/**/**/

Bryant Analytics, Inc.   All Rights Reserved 1999-2001

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I expect Miachel Slade to respond.  Apparently he has been in discussions
with GFI and they have come to terms.  Andy must have used the UK group to
get the NDA started and Miachel was the contact.

From: Tana Jones on 11/01/2000 04:56 PM
To: Bob Shults/HOU/ECT@ECT
cc:
Subject: Re: GFI Non disclosure

I haven't seen or heard anything on this...


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 03/05/2001
05:41 PM ---------------------------

	From:  Jason Sokolov                           03/05/2001 04:05 PM

To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: List of Rice students

Vince,
here are the e-mails of students, who signed up on Thursday:

isranir@rice.edu, demianen@rice.edu, tbal93@yahoo.com, maue@rice.edu,
loughrid@rice.edu, jblantonjr@yahoo.com, gjohnson@rice.edu,
emchombo@rice.edu, nazareth@rice.edu, vanstone@rice.edu, ganguzza@rice.edu,
nelsonb@rice.edu, sssmith@rice.edu, wheelock@rice.edu, westmore@rice.edu,
gaudette@rice.edu, otaylor@rice.edu, dikeman@rice.edu, jettke@rice.edu,
litton@rice.edu, chilkina@rice.edu, helms@rice.edu, wankhade@rice.edu,
monfan@rice.edu, kostya@rice.edu, pcp@rice.edu, yueguo@rice.edu,
nlwbio@rice.edu, zhangn@rice.edu, rishad@rice.edu, yoshiura@rice.edu,
howard@rice.edu, dayangd@rice.edu, wuwei@rice.edu, so@rice.edu

There were a few students who did not sign up, but I do not have this list..

Jason Sokolov


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

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

Crude Spread     http://www.carrfut.com/research/Energy1/crudespread65.pdf
Heat Spread     http://www.carrfut.com/research/Energy1/heatspread65.pdf
Unleaded Spread
http://www.carrfut.com/research/Energy1/unleadspread65.pdf

Heat Crack     http://www.carrfut.com/research/Energy1/heatcrack65.pdf
Gas Crack     http://www.carrfut.com/research/Energy1/gascrack65.pdf

Carr Futures
150 S. Wacker Dr., Suite 1500
Chicago, IL 60606  USA
Tel:  312-368-6149
Fax:  312-368-2281
soblander@carrfut.com
http://www.carrfut.com


Here is today's copy of Bloomberg Power Lines. Adobe Acrobat Reader is
required to view the attached pdf file. You can download a free version
of Acrobat Reader at
   http://www.adobe.com/products/acrobat/readstep.html

If you have trouble downloading the attached file it is also located at
   http://www.bloomberg.com/energy/daily.pdf

Don't forget to check out the Bloomberg PowerMatch West Coast indices, the
most accurate indices anywhere. Index values are calculated from actual trades
and can be audited by all PowerMatch customers.

Our aim is to bring you the most timely electricity market coverage in the
industry and we welcome your feedback on how we can improve the product further.

Bloomberg Energy Department

05/16 Bloomberg Daily Power Report

Table

                      Bloomberg U.S. Regional Electricity Prices
      ($/MWh for 25-50 MWh pre-scheduled packages, excluding transmission costs)

                            On-Peak
West Coast                   Index       Change       Low         High
 Mid-Columbia                128.78     -107.65      135.00      150.00
 Ca-Or Border                140.00     -106.67      135.00      145.00
 NP15                        153.42      -87.75      144.00      163.00
 SP15                        139.67      -73.33      135.00      145.00
 Ault Colorado               125.00      -70.00      135.00      145.00
 Mead                        150.00      -82.50      149.00      151.00
 Palo Verde                  150.92      -72.20      133.00      180.00
 Four Corners                147.50      -72.50      140.00      155.00

Mid-Continent
 ECAR                        45.44       +4.28       41.86       49.00
  East                       44.50       +4.50       43.00       46.00
  AEP                        47.00       +5.80       42.00       50.00
  West                       44.50       +3.50       42.00       46.00
  Central                    46.25       +6.11       42.00       50.00
  Cinergy                    46.25       +6.11       42.00       50.00
  South                      44.57       +0.24       40.00       53.00
  North                      45.00       +3.67       42.00       48.00
 Main                        46.21       +2.63       43.00       49.00
  Com-Ed                     43.75       +2.46       40.00       46.00
  Lower                      48.67       +2.79       46.00       52.00
 MAPP                        52.50       +0.67       50.00       55.00
  North                      52.00       +1.00       50.00       55.00
  Lower                      53.00       +0.33       50.00       55.00

Gulf Coast
 SPP                         50.13       +0.13       46.75       53.50
  Northern                   51.00       +0.00       46.00       56.00
 ERCOT                       53.50       -4.13       52.00       55.00
 SERC                        47.77       +0.39       43.95       52.51
  Va Power                   42.00       -1.50       41.50       42.50
  VACAR                      48.33       +2.08       45.00       50.00
  Into TVA                   44.57       +0.24       40.00       53.00
  Out of TVA                 48.28       -0.57       43.64       57.04
  Entergy                    49.73       -0.02       45.00       55.00
  Southern                   47.75       +1.25       45.00       50.00
  Fla/Ga Border              53.75       +1.25       47.50       60.00
 FRCC                        57.50       +0.07       50.00       65.00

East Coast
 NEPOOL                      50.50       -0.25       50.00       51.00
 New York Zone J             56.00       +0.25       55.00       57.00
 New York Zone G             49.25       -0.55       48.00       50.50
 New York Zone A             37.25       -1.25       36.50       38.00
 PJM                         38.80       +0.65       38.00       40.00
  East                       38.80       +0.65       38.00       40.00
  West                       38.80       +0.65       38.00       40.00
  Seller's Choice            38.30       +0.65       37.50       39.50
End Table

Western Spot Power Prices Sink Amid River Runoff, Mild Weather

     Portland, Oregon, May 16 (Bloomberg Energy) -- Western U.S.
peak spot power prices for delivery tomorrow plummeted as
hydroelectric operators were forced to generate power, traders
said.
     At the Mid-Columbia trading point in Washington, peak power
declined 38.4 percent from yesterday to a Bloomberg index of
$140.55 a megawatt hour, with executed trades between $135.00-
$150.00.
     "Run-off is increasing hydroelectric supplies," said one
Northwest trader.
     Traders said that smaller dams in the Portland area don't
have the capability to store excess water from mountain snowmelt,
so they have to generate power or spill water.
     "The weather is mild in the Northwest, causing snow melt to
run off into the reservoirs," said one Northwest trader.
     According to Weather Services Corp., of Lexington,
Massachusetts, temperatures in Portland, Oregon were expected to
reach 63 degrees Fahrenheit today, increasing tomorrow 2 degrees
to 65 degrees.
     At the California Oregon Border, day-ahead peak power sank
$106.67 to a Bloomberg index of $140.00. Traders completed trades
in the $135.00-$145.00 range.
     In the Pacific Northwest, federal power marketer Bonneville
Power Administration offered up to 200 megawatts of delivered
energy for tomorrow at the Dow Jones Mid-Columbia and California-
Oregon Border firm electricity index price.
     At the Palo Verde switchyard in Arizona, peak power slipped
$72.20, to a Bloomberg index of $150.92 as traders executed
transactions in the $140.50-$150.00 range. Traders said they sold
off-peak power as low as $21.00 and as high as $40.00.
     Traders said that Arizona Public Service Co.'s 1,270-
megawatt Palo Verde 1 nuclear plant in Wintersburg, Arizona,
increased production 20 percent from yesterday to 70 percent of
capacity following the completion of a scheduled refueling outage
that began March 31.
     At the SP-15 delivery point in Southern California, peak
power slumped $73.33 to a Bloomberg index of $139.67 amid trades
in the $135.00-$145.00 range.

-Robert Scalabrino

Northeast Spot Power Prices Steady Amid Idle Market Conditions

     Philadelphia, May 16 (Bloomberg Energy) -- Spot power prices
in the Northeast U.S. were little changed this morning, amid
expectations for continued increases in available generation and
stagnant cooling loads, traders said.
     According to Weather Derivatives Corp. of Belton, Missouri,
temperatures in the Northeast will average within one degree
Fahrenheit of normal over the next seven days, keeping heating and
cooling demands 89 and 97 percent below normal, respectively.
     In the Pennsylvania-New Jersey-Maryland Interconnection, peak
power scheduled for Thursday delivery was assessed 65 cents
higher, at a Bloomberg volume-weighted index of $33.80 per
megawatt hour.
     Traders said tomorrow's projected load requirements and
generation outages were virtually unchanged, leaving little room
for movement in the day-ahead market.
     The Interconnection projected loads for the first six on-peak
hours of tomorrow to average just 100 megawatts greater than
today, and increases in available generation were estimated at
only 23 megawatts.
     The next-week market was volatile however, as revised weather
forecasts, calling for cooler temperatures, left many marketers
scrambling to readjust positions.
     "The weather forecast for next-week has been drastically
revised," said one PJM-based trader. "Anyone holding excess power
for that period was looking to unload it this morning, and the
market just fell out of bed from there."
     Traders said early morning trades topped out at $48.00,
before trailing off to lows in the $40.00-$41.00 range.
     In the New England Power Pool, day-ahead power sold 25 cents
lower amid trades in the $51.50-$52.50 range, with most deals
executed at $52.00.
     Entergy Corp. said it began the process of restarting its
670-megawatt Pilgrim 1 nuclear reactor at 3:07 a.m., although
traders agreed the additional megawatts didn't affect tomorrow's
market.
     "It's not a very big unit, so a minimal increase in
production isn't going to make a noticeable difference," said one
Northeast trader. "I'm sure it will be reflected in tomorrow's
day-ahead market, when output will be closer to capacity."
     Next-week packages traded heavily in New England, as they did
in PJM, though prices for the 5-day block there remained firm at
$55.00. Traders said heavy purchases from one of the region's load
serving entities might have helped support the market, by
offsetting forecasts for cooler temperatures.
     Temperatures in Boston, one of New England's primary load
centers, are forecast to average less than 60 degrees through the
early part of next week.

-Karyn Rispoli

Southeast Demand Again Drives Mid-Continent Power Prices Up

     Cincinnati, May 16 (Bloomberg Energy) -- Continued high
weather-related demand from the Southeast and a combination of
unit outages and transmission problems in the Midwest drove Mid-
Continent peak power prices up again today, traders said.
     East Central Area Reliability Council prices rose for the
fourth consecutive day as heavy weather-related demand from the
Tennessee Valley Authority grid continued, traders said.
     The Bloomberg index price for day-ahead power delivered into
the Cincinnati-based Cinergy Corp. transmission system rose $6.11
to $46.25 a megawatt-hour and has gained almost $19.00 this week.
Trades ranged from $44.50 up to $50.00 after options expiration.
     Cinergy traders said the late price rise came as marketers
oversold to TVA and had to buy power back from there to cover
short positions.
     In contrast to the daily market, short-term over-the-counter
prices dropped, with power for Friday delivery offered $2.00 less
than yesterday's price for Thursday-Friday parcels at $41.00 and
power for delivery from May 21-25 offered $7.00 less at $40.50.
     "There's a new weather forecast out, and it's going to be a
lot cooler next week now than we originally thought," one trader
said. "I wish I'd sold myself way short on the next week package
yesterday, but what can you do?"
     In Mid-America Interconnected Network trading, peak power at
the Chicago-based Commonwealth Edison hub sold $2.46 higher on
average at $40.00-$46.00 and power in the lower half of the
region $2.79 higher on average at $46.00-$52.00.
     MAIN traders said transmission constraints all but
eliminated the ability to sell power west into the Mid-Continent
Area Power Pool, causing market focus to shift to the South and
East.
     With several unit outages and transmission problems,
continued hot weather and imports from MAIN unavailable, day-
ahead power prices in MAPP were the highest in the region again
today, traders said.
     Next-day power sold $1.00 higher on average in northern MAPP
at $50.00-$55.00 and 33 cents higher in the southern half of the
region at $50.00-$55.00. Traders said activity was limited, as
most utilities had no excess power available.
     "It's still in the 80s (degrees) here, which is much hotter
than we're used to this early in the year," one trader said. "Add
to that these unit outages, and you get what we have right now; a
pretty big mess."

-Ken Fahnestock

Southeast Power Prices Mixed as Recent Heat Moderates

     Atlanta, May 16 (Bloomberg Energy) -- U.S. Southeast spot
electricity prices were mixed today as several major regional
population centers expected cooler weather tomorrow, while
others expected weather to remain hot, utility traders said.
     The Bloomberg Southeast Electric Reliability Council
regional index price rose an average of 39 cents a megawatt-
hour from equivalent trades made yesterday for delivery today,
to $47.77, amid trades in the $36.50-$60.00 range.
     Forecasters from Lexington, Massachusetts-based Weather
Services Corp. predicted daily high temperatures in the Atlanta
vicinity would peak tomorrow at 87 degrees Fahrenheit,
unchanged from today's projected high.
     In sections of the Southwest Power Pool, tomorrow's
projected highs for Topeka, Kansas, were expected to decline to
the high-70s to low-80s tomorrow, utility traders said.
     "There was not a lot of trading done in the next-day
markets because we expect to see a break in the weather," said
one SPP-based utility trader. "Our temperatures, which are
expected to hit the 92-94 degree mark today, will decline to
about 10 degrees below normal tomorrow."
     According to Belton, Missouri-based Weather Derivatives
Inc., cooling demand across the Southeast was expected to
average about normal over the next week.
     Over the next 6-10 days, temperatures in the Southeast are
expected to average 3.1 degrees below normal, the forecaster
said.
     On the Tennessee Valley Authority grid, power for tomorrow
traded in a "broad" range of $40.00-$53.00, though the majority
of energy trades were reported at a Bloomberg index of $44.57,
24 cents more than yesterday.
     Expectations for continued warm weather on the U.S. Gulf
Coast and troubling transmission line loading relief measures
between sections of southern Mid-Continent Area Power Pool and
the northern SPP, kept Entergy Corp. prices from falling,
traders said.
     The Bloomberg day-ahead peak Entergy index fell 2 cents
from yesterday to $49.73 amid trades in the $45.00-$55.00
range.
     Traders said prices could dip tomorrow in the Gulf Coast
region because natural gas futures for June delivery on the New
York Mercantile Exchange were slipping. June futures declined
28.3 cents per million British thermal units to $4.38 per
million Btu.

-Brian Whary

U.K. Winter Power Contracts Little Changed in Heavy Trade

     London, May 16 (Bloomberg Energy) -- Winter 2001 power prices
in the U.K. closed little changed today, although the contract was
unusually active, traders said.
     Winter 2001 baseload was last assessed 10 pence lower at
21.30-21.40 pounds a megawatt-hour.
     Although Winter 2001 traded over 60 times, one trader said
the contract traded "range-bound'' throughout the day, as
participants purchased and sold the contract in an effort to
create liquidity in the market.
     "Its unprecedented for over 800 megawatts to have traded and
we've seen little change. It's evident a player out there is very
keen to get liquidity going in the market,'' another trader said.
     Traders said the two major trading houses that have been
trading the contract aggressively over the past week were the main
market participants again today.
     Day-ahead prices tumbled today even though reports of outage
problems persisted, traders said.
     British Energy's Sizewell B nuclear plant was reported to
have shut for maintenance last Friday because of an acid leak,
although this couldn't be confirmed.
     "The spot market continued to be volatile. We are still
seeing a lot of panic buying and selling,'' one trader said. "It
seems people must have overbought in preparation for these planned
outages and now need to sell.''
     Day-ahead baseload started trade at 23.50 pounds a megawatt-
hour, before plummeting to trade at 18.00 pounds a megawatt-hour,
5.00 pounds lower than yesterday.

-Amal Halawi

Nordic Electricity Prices Close Higher on Elevated Spot Value

     Lysaker, Norway, May 16 (Bloomberg Energy) -- Electricity
prices on the Nordic Power Exchange in Lysaker, Norway, rose in
active afternoon trade after generators set tomorrow's spot price
above expectations, traders said.
Participants rushed to close positions ahead of a Norwegian
holiday tomorrow that will keep the market closed. Nordpool is
scheduled to re-open on Friday.
     Winter-2, 2001 jumped 1.75 kroner a megawatt-hour to close at
a record high of 218.25 kroner a megawatt-hour with 449.00
megawatts exchanged. Winter-1, 2002 gained 2.10 kroner after
166.00 megawatts traded between 216.00-218.75 kroner a megawatt-
hour.
     Although industrial end-user demand was anticipated to drop
tomorrow as Norway celebrates Constitution Day, Thursday's system
area average price was set at 195.41 kroner a megawatt-hour, more
than 10 kroner above traders' expectations of 185.00 kroner a
megawatt-hour and down 2.97 kroner from today's price.
     Producers in western Norway retained control over inflowing
molten snow, pushing prices higher, an Oslo-based trader said. The
minimum hourly spot price in Trondheim, Norway was set at 190.88
kroner a megawatt-hour, only 4.53 kroner lower than the system
area average price.
     Nordpool reported an expected 2.5 percent increase in
Norwegian reservoirs to 34.7 percent of total capacity at the end
of week 19 from the previous week, compared to 49.9 percent of
total capacity a year ago. In Sweden, reservoirs were up 7.9
percent to 33.2 percent of total capacity, beating expectations of
a 5.2 percent gain.
     Snowmelt in Norway was likely to peak in the next ten days,
delaying water tank refilling, while in Sweden it peaked last
week, traders said.
     Limited snow accumulation in the important hydro-producing
region of western Norway has also minimized the effect of
anticipated supply increases.
     In the shorter-term, week 21 closed 1.50 kroner higher at
195.00 kroner a megawatt-hour after a total 286.00 megawatts
traded as low as 190.75 kroner a megawatt-hour. Week 22 jumped
5.00 kroner a megawatt-hour to 204.00 kroner a megawatt-hour.
     Total volumes more-than-quadrupled in afternoon trade to
3,717 gigawatt-hours generation compared to this morning's 738
gigawatt-hours.

-Alejandro Barbajosa
-0- (BES) May/16/2001 19:32 GMT

 - daily.pdf


Raetta, have we taken care of this?  Thanks. Lynn

-----Original Message-----
From: Stevens, Bob
Sent: Monday, November 19, 2001 10:57 AM
To: Blair, Lynn
Cc: January, Steve; Zadow, Raetta
Subject: RE: Receipt Points

Raetta or Lynn:  Is there no way for them to designate all of their fuel from Marshall?

-----Original Message-----
From: Blair, Lynn
Sent: Friday, November 16, 2001 4:36 PM
To: Stevens, Bob
Cc: January, Steve; Zadow, Raetta; Blair, Lynn
Subject: RE: Receipt Points

	Bob, you are correct in your statement.  But I want to be sure Koch understand
	when they nominate their receipt at Carlton of 2828 the delivery on that
	path will be 2828 less fuel.  Otherwise I agree with you statements.  I will
	be out next week, but Raetta is up to speed on this issue if you have any
	questions.  Thanks. Lynn

-----Original Message-----
From: Stevens, Bob
Sent: Wednesday, November 14, 2001 9:10 AM
To: Blair, Lynn
Subject: FW: Receipt Points

Lynn:  Please verify that if Koch realigns their 35,000/d contract (K# 20510)such that their MDQ at Carlton matches their Carlton flow obligation of 2,828 and has the rest of their 32,172/d at Marshall (They would need to realign 30 mcf from Carlton to Marshall to effectuate the above, and I've checked with Doug Aschwege to make sure he would approve it.) that Steve's and my interpretation as described below is correct.  Basically the question is whether the Carlton flow obligation is only the Tariff stated volume (ie., no fuel imputed) and that the remainder of the MDQ plus fuel on the whole 35,000/d will flow as primary firm receipts at Marshall.  Thanks for your help!

-----Original Message-----
From: Phillips, Steve (EKT) [mailto:Steve.Phillips@entergykoch.com]
Sent: Tuesday, November 13, 2001 4:25 PM
To: Stevens, Bob
Subject: Receipt Points

Bob,

Per our conversations earlier this month,  My contract 20510 needs to have
only 2828 mmbtu at Carlton and 32172 at Marshall.  All of the fuel for the
transport needs to be taken from Marshall.  Currently, this contract has
2858 at Carlton.  This is 30 above my obligation.  After this change is
made, it is my expectation that under no circumstances will my volume at
Carlton be curtailed below a receipt volume of 32568 at Marshall.   A
combination of 2828 plus 32568 gives me a delivered volume of 35000.  That
is my firm entitlement and curtailments below that are unacceptable as long
as my nominations are primary FT.

Please contact me at 713-544-4017 if more clarification is needed.

Thank you.

Steve Phillips


FirstEnergy Trading Services, Inc. merged into FirstEnergy Services Corp.
(Services) effective 12/31/2000.  Notice has been given that they are
assigning the Master Energy Purchase and Sale Agreement to Services.


Just an example  of some things being done out here from a jurisdictiopal
standpoint.

Mark
---------------------- Forwarded by Mark Whitt/DEN/ECT on 08/02/2000 04:19 PM
---------------------------

Michael J Legler
08/02/2000 02:34 PM
To: Dan J Bump/DEN/ECT@Enron, Mark Whitt/DEN/ECT@Enron
cc:
Subject: TCP Gathering Company Abandonment Order

Thought you guys might be interested in this!

Mike