Notice to Members No. 01-190
June 7, 2001

REMINDER ) THIRD NOTICE

To:
All NYMEX Division Members
All COMEX Division Members

From:
Neal Wolkoff, Executive Vice President

Re:
Changes to Audit Trail Summary Fine Structure-NYMEX & COMEX Divisions

Modification of &Clear-out Period8

The Board of Directors has approved modifications to the fine structure for
one-minute trade time submission for both NYMEX and COMEX Divisions.
Presently members falling below the 80% timely submission standard are issued
escalating warning letters and fines unless and until they clear out their
record by being in compliance for six consecutive months.  After six months,
the member returns to a &warning letter8 level.  Effective immediately, this
&clear-out period8 is reduced from six months to four months.  One-minute
trade timing statistics for the month ending April 30, 2001 will reflect this
modification.

Implementation of One-Minute Trade-Time Classes

The Board also accepted the recommendation of the Compliance Review Committee
and Floor Committee to adopt a training program for members facing one-minute
trade time fines on the NYMEX Division.  The purpose of the program is to
improve Exchange trade submission timing through member education by
identifying individual issues, tailoring individual solutions and statistical
follow-up.  Training will be conducted on Thursday, June 14, Tuesday, July
10, and Wednesday, August 15, 2001 by a team comprised of Committee Members
and Compliance Staff with the assistance of the Training and Education
Committee.  You may sign up for these classes at the Corrections Windows on
the 3rd and 5th floors, or by contacting Lois S. Shapiro, Associate
Compliance Counsel, at (212) 299-2853.  The June 14, 2001 class will be held
in the Seminar Room on the 10th floor at 3:45 p.m.  Plan to stay until 6:00
p.m.  Credit will not be given to anyone who does not attend the entire class.

As incentive, any member attending any one class will be allowed to &do over8
up to two subsequent months in which their trade time rates are between 70%
and 79%.  The member will still have to complete four violation-free months
before his record is &cleared out8 but he may take up to six months to do
so.  Members may take one class per year.

Audit Trail Classes

? Purpose:   to improve pit card submission statistics Exchange-wide by
reducing the number of individual members falling below the 80% standard for
timely pit card submission and to facilitate their return to a &warning
letter8 level.

? Members who have received a warning letter or a fine for pit card
violations may:

_ Attend an audit trail class, to be offered on June 14, July10, and August
15, 2001, with future dates to be determined by the Floor
Committee/Compliance Review Committee.  The class will be an intensive
discussion of pit card problems and pitfalls.  Materials will focus on how
the audit trail works and successful strategies for achieving a passing
percentage.  Members will be required to analyze their own trading style in
light of the material presented and pinpoint areas in which they need to
improve.  Members will also be required to outline a plan for raising their
pit card performance rates.  Each plan will be discussed with the group and
members will receive feedback from Floor Committee and Compliance Review
Committee Members, and Compliance and Floor Department Staff.  Members
attending classes are strongly encouraged to bring their clerks with them!

_ Upon completion of the class, members will be allowed to &do over8 up to
two subse-quent months in which their timely submission rates fall between
70% and 79%.  No fine or warning letter will be issued for a &do over8 month,
but the month will not count as a passing month.  A member who falls below
70% will receive a fine or warning letter.

_ The benefit to the member will be that the month that would have counted as
a failing month will not count at all, as long as the member achieved at
least a 70% rate.  Members still need four problem-free months to return to a
warning letter stage.  A member who has been problem-free for 3 months would
benefit by &doing over8 a fourth (and possibly a fifth) failing month, thus
having the opportunity to return to the warning letter stage despite
intervening failing months.  A member who falls below 70% before achieving
four problem-free months will receive a fine or a warning letter, as
appropriate.  The member can still use a second &do over8 month as long as he
meets all the above criteria.

_ Staff will follow up with members attending the classes.  Members will
receive a breakdown of their most recent audit trail fine.  They will also be
invited to discuss their percentages with staff on an individual basis.
Further, staff will supply daily or weekly statistics to any member by e-mail
or telephone upon request.

_ Members are eligible for only one class per year.  A member must take a
class to take advantage of the benefits listed herein.  Classes will be
offered on June 14, July 10 and August 15, 2001, and the program will apply
to the next full month of audit trail statistics.  The Compliance Review
Committee and the Floor Committee will evaluate the results of this program
before deciding whether to extend this program into 2002.

Incorporation of Spreads into One-Minute
Trade Time &Pit Card8 Statistics for NYMEX Division

Present one-minute trade time &pit card8 statistics do not include spread
times.  During the most recent NYMEX Rule Enforcement Review--the CFTC audit
of the Exchange,s Compliance programs and procedures--the CFTC recommended
that the NYMEX Division incorporate spread trades into the one-minute time
statistics.  The CFTC has made this recommendation in the past and the
Exchange has committed to respond to it. The COMEX Division one-minute trade
time statistics already include spreads.

NYMEX Division Members should note that intra-commodity spread trades will be
incorporated into pit card one-minute trade time accuracy rates after a
&phase in8 process of approximately 90 days.  In order to avoid substandard
percentages once spreads are incorporated, members must make sure that their
spread prints are price reported in order to ensure that the Price Change
Register for spreads is accurate.  If a spread print is not reported, you
will not be credited with timely submission of pit cards, even if you throw
the trade into the pit in a timely manner.

Pit card statistics for outright trades are presently posted on the NYMEX
floor on a weekly basis.  Compliance Staff will continue to post statistics
for outright trades and will additionally post the statistics for spread
trades.  These spread trade statistics are for information only so that you
can assess your pit card submission rate in advance of incorporation of
spreads in the one-minute trade time submission percentages.  For information
purposes, the seller of the spread is considered to be the party who sells
the premium month.  In the case where the spread trades flat, the seller is
the party who sells the nearby month.

If you have any questions about this information, please call Nancy Minett,
Compliance Counsel, at (212) 299-2940, or Thomas LaSala, Vice President
Compliance, at (212) 299-2897.

__________________________________________________
Please click on the link below to indicate you have received this
email.

"http://208.206.41.61/email/email_log.cfm?useremail=tana.jones@enron.com&refdo
c=(01-190)"

Note: If you click on the above line and nothing happens, please copy
the text between the quotes, open your internet browser,
paste it into the web site address and press Return.


I may go home and work after I take Michael.  I'll call.


TASK ASSIGNMENT

Status:		completed

Task Priority:
Task Due On:		3/15/2000
Task Start Date:	3/1/2000


Hello Mamie and Papi,

Invitations are going out in the mail soon.   This is a quickie FYI to reserve Monday, January 21st from 12:00 to  2:00/2:30  to attend Nicholas' 4th Birthday Party.  Monday the 21st is  a R.O.B. school holiday... Martin Luther King Day.  I hope you are  both available.  I'll be in touch soon.

Thanks,
Robyn


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MsgId: msg-14652-2001-06-06_15-48-53-5693356_11_Plain_MessageAddress.msg-15:52:03(6-06-2001)
X-Version: mailer-sender-master,v 1.84
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Message-Recipient: alewis@ect.enron.com


How about 100?

	From:  Rebecca Walker                           05/11/2001 08:49 AM

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

Subject: Blue Dog Meeting Today

Kay

When are you available today to get together and call Ben about the Blue Dog
invoices?  As far as I know, Ben's only conflict today is a meeting from 2-3
(Houston time), and I can come up to your office any time.

Also, an attorney from King & Spalding (I believe she said her name was
Marisa Rudder?) left a message for me last night asking about the status of
the original closing documents for the Blue Dog/Northwestern transaction.  Do
you know where these are?

Thanks,
Rebecca
x57968
---------------------- Forwarded by Rebecca Walker/NA/Enron on 05/11/2001
08:44 AM ---------------------------

	From:  Ben F Jacoby @ ECT                           05/10/2001 07:30 PM

Sent by: Ben Jacoby@ECT
To: Rebecca Walker
cc:

Subject: Re: payment of invoices, Blue Dog Max

Rebecca:

Please coordinate a time with Kay that will work. I will be in CA and will
join by phone.

Thanks,

Ben
---------------------- Forwarded by Ben Jacoby/HOU/ECT on 05/10/2001 07:29 PM
---------------------------

Kay Mann@ENRON
05/10/2001 08:29 AM
To: Ben F Jacoby/HOU/ECT@ECT
cc: Rebecca Walker/NA/Enron@Enron, Chris Booth/NA/Enron@ECT
Subject: Re: payment of invoices, Blue Dog Max

Looks like Friday will work.

	From:  Ben F Jacoby @ ECT                           05/09/2001 07:12 PM

Sent by: Ben Jacoby@ECT
To: Rebecca Walker/NA/Enron@ENRON
cc: Chris Booth/NA/Enron, Kay Mann

Subject: Re: payment of invoices, Blue Dog Max

Before we send anything other than the "thank you" e-mail I sent to Jeff, and
before we have any conversations with GE on this point, we need to seek Kay's
guidance based on her read of the contract and the issues Jeff raised in his
letter.

Kay - will you have some time to talk about this Friday?

Regards,

Ben

	Enron North America Corp.

	From:  Rebecca Walker @ ENRON                           05/09/2001 01:39 PM

To: Ben Jacoby/HOU/ECT@ECT
cc: Chris Booth/NA/Enron@Enron
Subject: payment of invoices, Blue Dog Max

Ben

The way we actually paid the invoices changed slightly after Chris had sent
the letter to GE.  We deducted the LD's and the retention amount from the
April 25th invoice (since the May invoice was not due until May 25th).

On May 8th, a wire totalling $1,671,039 was sent to GE -- this represented
$469,000 for the c/o #2 invoice and $1,202,039 for the April 25th invoice
less the LD's and retention.

To respond to Jeff Darst's letter, we can say that we are planning on paying
the May 25th invoice in full (assuming we're not planning on deducting
additional LD's for May 8-May 25).

We just need to clarify with Jeff that both the LD and the retention were
deducted from the April invoice, and then we can deal with resolving the
issues he discusses in his letter.

Regards,
Rebecca
---------------------- Forwarded by Rebecca Walker/NA/Enron on 05/09/2001
01:22 PM ---------------------------

jeffrey.darst@ps.ge.com on 05/09/2001 01:18:59 PM
To: chris.booth@enron.com
cc: Ben.Jacoby@enron.com, chasecl@pssch.ps.ge.com, john.schroeder@ps.ge.com,
stephen.swift@ps.ge.com, Rebecca.Walker@enron.com

Subject: payment of invoices, Blue Dog Max

Chris,

Please see attached letter, original to follow via FedEx.

 <<Microsoft Word - BDM002.pdf>>
 <<Microsoft Word - BDM002.pdf>>

 - Microsoft Word - BDM002.pdf
 - Microsoft Word - BDM002.pdf


Steve,

After the Napa meeting last December, I headed up a  working group to look at
coordinating EBS issues Internationally.  Initially I spoke with most of the
people who signed up for the group, and began gathering comments and
suggestions for improved coordination.   However, much of the need for a
working group was reduced for two reasons; first, the addition of Donald
Lassere provided a person within our group to focus exclusively on
international coordination, and secondly, the Global Public Affairs
reorganizations this year solved many of the jurisdictional questions that
were highlighted by many in my working group.  After the re-org, we saw
little reason to continue the working group.

The group did serve as a good sounding board for people to comment on
communications strategies and  better coordination within Government/Public
Affairs.  Many of these strategies (particularly more relationship building
internally) were implemented.  Additionally, the experience was a good one
simply because it offered an opportunity to better educate other group
members on EBS and telecommunications in general.

I would not recommend re-forming the group at this time.  I think many of the
goals the group was initially formed for are actually being achieved now
through better organizational structures and closer collaboration between EBS
support personnel and International group members.

Many of the EBS related topics that deserve a collaborative, cross-functional
process are being examined through informal, ad-hoc working groups now.  For
instance, based on concerns raised at a recent EBS/Government Affairs
off-site, we now have an international regulatory/tax/legal working group.
This group is comprised of participants from Rick Shapiro's group, Mark
Schroeder's group and EBS commercial support organizations.

I am a little unclear on what personal feedback you want on group members.
Please advise what format I should address this in, since I am not a reviewer
for almost anyone who was in my group.  Suffice to say, everyone was helpful
during the brief time the working group was in effect.   But I can give more
detail on individuals if you would like.

Thanks for the opportunity to lead a working group (even for such a short
time!) and please let me know if I can provide any additional information.

Best, Scott

	Steven J Kean@ENRON
	Sent by: Maureen McVicker@ENRON
	11/20/00 08:12 AM

		 To: Jose Bestard/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Scott Bolton/Enron
Communications@Enron Communications, Hap Boyd/EWC/Enron@Enron, Jeff
Brown/NA/Enron@Enron, Ricardo Charvel/NA/Enron@Enron, Paul Dawson/Govt.
Affairs/LON/ECT@ECT, Joe Hillings/Corp/Enron@ENRON, Harry
Kingerski/NA/Enron@Enron, Nicholas O'Day/AP/Enron@Enron, Richard
Shapiro/NA/Enron@Enron, James D Steffes/NA/Enron@Enron
		 cc: Richard Shapiro/NA/Enron@Enron, Mark Schroeder/LON/ECT@ECT, Marcia A
Linton/NA/Enron@Enron, Ginger Dernehl/NA/Enron@Enron, Lora
Sullivan/Corp/Enron@ENRON, Rubena
Buerger/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Tracy Cooper/Enron
Communications@Enron Communications, Beverley Ashcroft/LON/ECT@ECT
		 Subject: WORKING GROUP PROGRESS

Please provide me an update on the progress of the working group you have led
this year.  There are several things I would like you to cover in this regard.

Did the working group function through the year or was it terminated (I
recognize there may be good reasons for the latter, but would like to
understand those reasons).

What did the group accomplish?

Would you recommend continuing it?   Any changes?

Are there other topics we should consider for working groups in the future?
Any changes to the working group process itself?

Please provide input on the individuals you worked with.  You should be able
to do this through the PEP system.  If you cannot, please provide the
feedback by confidential e-mail to me.  Because the PRC is coming up soon,
please provide the feedback by December 1.


I got a call from Christine around lunch, pointing out here input to 3 and
4.  I added one of here paragraph to #3.  Let me know immediately if you
disagree with the change.  We also need to talk tonight about how we're
going to coordinate these cases in the future.  I can't work on these cases
at work (I'm a supervisor in a union environment).  I got Christine's email
Sunday at 10:53 pm and it was not combined with Jeff and Kim's.  Lets make
sure we have a commitment tonight on how we're going to execute these in the
future!
Jimmy
 <<AZTECA~1.DOC>>

> -----Original Message-----
> From: JcjCal02@aol.com [SMTP:JcjCal02@aol.com]
> Sent: October 08, 2000 8:34 PM
> To: Jeff.Dasovich@enron.com; kkupiecki@arpartners.com; jcja@chevron.com
> Cc: christine.piesco@oracle.com; dwindham@uclink4.berkeley.edu;
> jdasovic@enron.com; jjackson@haas.berkeley.edu
> Subject: Re: Case, #3,4
>
> I've compiled and attached what I'm calling the final case.  Dylan, I made
>
> some changes to #1.  Let me know if you see any fatal flaws.  If not this
> is
> what I will copy and deliver to class.
> Jimmy << File: AZTECA~1.DOC >>

 - AZTECA~1.DOC


Imelda,

Please switch my sitara access from central to west and email me with my
password.

thank you,

Phillip


Start Date: 4/23/01; HourAhead hour: 6;  HourAhead schedule download failed.
Manual intervention required.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001042306.txt

---- Generation Schedule ----
$$$ Variance found in table tblGEN_SCHEDULE.
     Details: (Hour: 6 / Preferred:  29.00 / Final:  28.97)
  TRANS_TYPE: FINAL
  SC_ID: ARCO
  MKT_TYPE: 2
  TRANS_DATE: 4/23/01
  UNIT_ID: CARBGN_6_UNIT 1


Should we stop withdrawing?
---------------------- Forwarded by Chris Germany/HOU/ECT on 03/13/2000 07:11
AM ---------------------------

Angie Zeman@ENRON
03/10/2000 01:57 PM
To: Chris Germany/HOU/ECT@ECT, Katherine L Kelly/HOU/ECT@ECT, Victor
Lamadrid/HOU/ECT@ECT, Kate Fraser/HOU/ECT@ECT
cc:
Subject: Storage Ratchets -- Enron North America

---------------------- Forwarded by Angie Zeman/Corp/Enron on 03/10/2000
01:54 PM ---------------------------

Ora_L_Ash@CNGT.CNG.COM on 03/10/2000 12:58:40 PM
To: MLAFUZE@ECT.ENRON.COM, Angie.Zeman@enron.com
cc:
Subject: Storage Ratchets -- Enron North America

     As of  March 8, 2000,  the Storage Gas Balance for Contract 530586 was
2,944 dekatherms or 21%  full.

     CNG Transmission Corporation

?s (CNGT) Rate Schedule GSS,  Section 8.4
provides that if Storage Gas Balance is less than or equal to 16%, then CNGT?s
obligation to make deliveries from storage shall be reduced by 30%.
Therefore,
when Storage Gas Balance falls below 16% or 2,236 dekatherms,  CNGT?s
obligation
to make deliveries from this storage account shall be reduced from 210
dekatherms to 160 dekatherms.

     Please review,  monitor, and if necessary, adjust the storage withdrawals
to avoid overruns and the resulting penalties as provided in Section 35.3B of
the General Terms and Conditions.  If you have any questions, please feel free
to contact me at 304-623-8546.


You and Chris already have your own room.  That was an old memo.

Lavo

P.S.  We have always known that you didn't play well with others.

 -----Original Message-----
From: 	Delainey, David
Sent:	Monday, January 29, 2001 1:55 PM
To:	Tycholiz, Barry; Lavorato, John J.
Subject:	Pebble Beach Update

Guys, I'm not the sharing type  - book me in the Forest Room.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 01/29/2001 01:53 PM ---------------------------
From:	Kimberly Hillis/ENRON@enronXgate on 01/29/2001 09:59 AM
To:	Christopher F Calger/PDX/ECT@ECT, David W Delainey/HOU/ECT@ECT, Barry Tycholiz/NA/Enron@ENRON
cc:
Subject:	Pebble Beach Update

These are the dates that we are going to graceland.  I suggest we arrive on Thursday evening and come back Sunday afternoon.  I'll now hand over the arrangements to Tycholiz Travel Co.

John Lavorato

Below is the availability of alternate rooms at the Inn at Spanish Bay for March 8-11, 2001:

Forest View Room @$425/night - some double queen size currently available.
Scenic View Room @ $475/night - no double accommodations available and single rooms are sold out.
Ocean View Room @$525/night - some double queen size currently available.

If you would like to pay by credit card, I will need the type of card, number, name & expiration date on the card.  Along with the credit card information, I will need to know the names of the other 3 people attending.

I have reserved golf for Friday, March 9th at 7:20 a.m. at Links at Spanish Bay and Saturday, March 10th at 12:00 p.m. at Pebble Beach Golf Links.

Room availability is tight so we should move on this as soon as possible.  Please let me know how you would like to proceed with this event.
THANKS!


http://www.consultrci.com

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===============================================================
SCIENTECH IssueAlert, November 13, 2000
The New Power Company: Going Green While Stock Price Drops
By: Will McNamara, Director, Electric Industry Analysis
===============================================================

The New Power Company (TNPC, NYSE: NPW), which bills itself as the first
national residential and small business energy provider, announced that
it has signed a Letter of Intent with Community Energy, Inc. to provide
wind-generated energy to customers in the Philadelphia area. Under the
terms of the agreement, TNPC will market wind power supplied by Community
Energy from a site under development in the mountains of northeast
Pennsylvania.
The new wind turbines are scheduled to come online by the end of 2001.

ANALYSIS: This is an interesting development, especially considering that
TNPC is still embroiled in a battle with Green Mountain for a significant
number of customers that TNPC recently secured in a bidding process from
PECO Energy. This could be an attempt on the part of TNPC to appease customers
who might have preferred to be served by Green Mountain. On the other hand,
it could be a shrewd marketing strategy from the energy service company,
founded earlier this year by Enron (along with partners AOL and IBM).

As you may recall, just two weeks ago TNPC announced that it had reached
an agreement with PECO Energy to supply "competitive default service" for
approximately 300,000 of PECO's residential electricity customers who have
not selected a competitive energy service provider. Green Mountain formally
challenged this agreement, arguing that the PECO/TNPC agreement is "not
in the public interest" and that Green Mountain should have been awarded
the right to serve as the default provider for the customers in question.
Thus, it seems curious that TNPC has just now announced the addition of
wind power to its portfolio of services. Up to this point, TNPC has been
working to aggressively acquire customers from other energy providers,
such as the approximately 285,000 natural gas and 20,000 electricity customers
it purchased from Columbia Energy Group. The acquisition of the customers
in PECO's territory was a major coup for TNPC, which is still in start-up
mode. Although TNPC claims that it was fairly awarded the customers from
PECO, the addition of wind power could be seen as an attempt to quell further
objections from Green Mountain or perhaps the beginning of a new identity
as a provider of renewable energy.

Community Energy, the company from whom TNPC is securing the wind power
that it will market, began making wind power available to businesses in
Pennsylvania last year. TNPC customers will be able to buy wind energy
in fixed kilowatt-hours, allowing for more customized service and tailored
use of power. Interestingly, the Commonwealth of Pennsylvania just renewed
a contract with Green Mountain in which Green Mountain will supply about
37,500 MW of green power to aggregated state agencies. This indicates that
desire for green power is quite strong in Pennsylvania, and any energy
provider wanting to market in the state would be wise to include green
power in its portfolio. Thus, while renewable energy was not a fundamental
component of TNPC's original business plan, the company appears to be moving
in this direction (at least in states where it is strategic to do so).

However, this announcement comes on the heels of TNPC's announcement of
its third-quarter earnings and a sudden drop in its stock price. TNPC's
revenues for 3Q 2000 were $18.2 million, derived from the sale and delivery
of electricity and natural gas to retail customers in just two states
(Pennsylvania
and New Jersey). Gross profit was $1.3 million, or 7.2 percent of revenues.
Yet, the loss on earnings before income tax (EBIT) was $68.3 million. The
net loss for the quarter was $69.9 million, or $2.96 per basic share. TNPC
reiterates that it is a new company with a very limited operating history.
Therefore, the company contends that its year-over-year comparisons are
not meaningful or indicative of future performance. The company's goal
for 4Q 2000 is to achieve revenues of approximately $60 to $63 million,
with an estimated year-end customer count of 340,000.

Eugene Lockhart, TNPC's CEO, said he was pleased with the 3Q performance.
Lockhart contends that TNPC "achieved both our overall financial performance
targets and business objectives," and referenced the fact that the company
is still building its "systems and architecture" so that it can continue
to penetrate additional competitive markets. In addition, TNPC has raised
approximately $546 million in funding which the company is using primarily
to build its brand identity in this early stage of its operation.

However, despite its positive outlook, after TNPC made its earnings
announcement
its shares took a nosedive, perhaps reflecting uncertainty about the energy
provider's ability to meet its objectives. The shares closed last Friday
at $9, which is a dramatic drop from the average price of $25 before the
3Q earnings announcement. TNPC issued its IPO on Oct. 5, 2000, at a price
of $21 per share, which at the time seemed quite high for a start-up energy
company with a limited track record. A day after its opening, the stock
closed at $27 per share. The stock was received so favorably for two reasons,
in my estimation. First, TNPC has been bankrolled by some hefty investments.
In two separate, private placements, investors such as Enron, GE Capital
Equity Investments and DLJMB Partners (among others) put up about $214
million in start-up capital in exchange for shares in the company. Enron
is the majority owner of TNPC, with 57-percent control. Second, and perhaps
more importantly, earlier this year Enron transferred its residential and
small commercial retail operations in California and Ohio to TNPC. Together
with the Columbia Energy Group acquisition, TNPC has come out of the gate
running with a significant beginning customer base of over 325,000 customers.

Yet clearly investors are now questioning the strength of TNPC stock, and
the company is at a crossroads. In order to keep its momentum on track,
TNPC needs to do two things. First, it needs to acquire additional customers
to expand its base. Key states such as Texas or Ohio offer the best
opportunity
to secure customers since competition is unfolding at a more rapid pace
in those states. Second, as I discussed in my IssueAlert from Nov. 6, 2000,
energy stocks that are based on new technologies in general and alternative
fuels in particular are being received particularly well by investors.
Consequently, it is a very shrewd move for TNPC to suddenly announce that
it will be a provider of wind power. This could potentially send the stock
price on a upward climb again, despite the fact that financial success
of the company is still unproven.

Regarding the customer base expansion, Ohio looks like the next state that
TNPC will target. Just last week, the company filed an application with
the Ohio Public Utility Commission to provide electricity in the state.
Yet, it's clear that TNPC is still fine-tuning its marketing approach.
In Ohio, it is offering customers competitive energy prices, flexible payment
and pricing choices, and frequent flier miles as a marketing incentive,
but there is no mention in TNPC's application that it will provide renewable
energy in Ohio.

Moreover, several questions remain. Does TNPC plan to carve out a new role
for itself as a renewable energy provider, or it just providing wind power
in Pennsylvania to preserve its market edge in the state? Will the addition
of wind power positively benefit the stock price of TNPC? Will TNPC
demonstrate
revenues of $63 million in 4Q 2000? And where will the company's next
acquisition
of customers take place? All of these questions directly impact the future
success of TNPC.
===============================================================

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http://www.consultrci.com/web/infostore.nsf/Products/IssuesWatch

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CALENDAR ENTRY:	APPOINTMENT

Description:
	Team Leader Mtg. Conference room EB4102

Date:		5/8/2001
Time:		2:30 PM - 3:00 PM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


Kate,

A request (below) has been made to fix a deal that was entered by Tom and
Mark incorrectly (through the option exercise function in deal blotter).  The
deal numbers and legs that need to be fixed are listed below.  Instead of
being a forward transaction, these legs should be entered as index forwards.
We are paying the DJ PV index plus $5 or 5%, whichever is more.  Therefore,
if daily prices were more than $100 at palo verde, the offset should be 1.05.

I know that i have totally confused you but let me know of any questions you
might have and I will be glad to help.

Thanks,

Kim
---------------------- Forwarded by Kim Ward/HOU/ECT on 11/15/2000 09:31 AM
---------------------------

	Enron Capital & Trade Resources Corp.

	From:  Katrina_Johnson@enron.com                           11/14/2000 02:03 PM

To: Kim.ward@enron.com
cc:
Subject: Re: DSM 5261

Kim,

The message listed below was previously forwarded to Caroline.  Per
Caroline, I would need to talk to the actual Trader.  Please let me know if
you can help me resolve this issue.
Please call me at ext.  3-6488 if you have any questions.

Thanks,
Katrina

Katrina Johnson
11/14/2000 03:02 PM

To:   Caroline Emmert/HOU/ECT@ECT
cc:
Subject:  DSM 5261

Caroline,

Deal #420886 legs 3-7 have no price attached to the deal.  Would you please
add the DJPV index plus an offset of 5%.  On legs 2 & 8 the offset needs to
be changed from $5.00 to 5%.

Please let me know if you have any questions.

Thank You,
Katrina


Jeff--I neglected to include your outside lobby team on this e mail, so you
may want to forward to them as well.
----- Forwarded by Susan M Landwehr/NA/Enron on 04/10/2001 11:50 PM -----

	Susan M Landwehr
	04/10/2001 11:07 PM

		 To: Jeff Dasovich/NA/Enron@Enron
		 cc: Richard Shapiro/NA/Enron@Enron, James D Steffes/NA/Enron@Enron, Harry
Kingerski/NA/Enron@Enron, Janel Guerrero/Corp/Enron@Enron, Karen
Denne/Corp/Enron@ENRON, Mark Palmer/Corp/Enron@ENRON, Steven J
Kean/NA/Enron@Enron, Linda Robertson/NA/Enron@ENRON, Tom
Briggs/NA/Enron@Enron, Joe Hartsoe/Corp/Enron@ENRON, Sarah
Novosel/Corp/Enron@ENRON, Donna Fulton/Corp/Enron@ENRON, Susan J
Mara/NA/Enron@ENRON, Sandra McCubbin/NA/Enron@Enron, Paul Kaufman/PDX/ECT@ECT
		 Subject: Re: FERC Hearing in Boise

Jeff--you did such a good job that I don't have to type much.   I do have a
few other thoughts to share that may be helpful for the California folks.

The format, although somewhat informal, had a  court reporter present and
transcripts will be published. Each state was invited to have 2
representatives and one of the 2 had to be a Commission member.  Opening
comments were taken from each state and then specific topics were discussed.
Herzberg participated primarily in the opening discussion.

He came across as very sincere---indicated that they were working "around the
clock" to take care of their problems, but that they cannot do it alone.  He
asked for FERC to help get Califonia to "stabilization" and specifically
asked FERC for three actions:  an 18 month temporary price cap on
electricity,  an 18 month temporary price cap on natural gas prices and to
prohibit any withholding of pipeline capacity to California.

He was treated very respectfully (which was not as evident  in the comments
to Commissioner Brown), and I think he did his cause some good.  Much more so
that in other venues when I've seen other reps from Davis's office speak.
Breathitt came to California's defense at some point in the discussion.

Commissioner Brown did his share of ranting about EVERYBODY knowing that
market manipulation is taking place and that the bastards were going to pay
for their misdeeds (ok..he didn't use those words, but his message was clear)

Lastly, the Chair of the Montana was the most vocal and honest in his
comments to the California partcipants stating, in part,  "why should Montana
ratepayers be taking the hit because California didn't build power plants."

	Jeff Dasovich
	Sent by: Jeff Dasovich
	04/10/2001 09:05 PM

		 To: Susan M Landwehr/NA/Enron@Enron
		 cc:
		 Subject: FERC Hearing in Boise

Forgot to send the darned thing to you!  Sorry.
----- Forwarded by Jeff Dasovich/NA/Enron on 04/10/2001 09:04 PM -----

	Jeff Dasovich
	Sent by: Jeff Dasovich
	04/10/2001 05:28 PM

		 To: hgovenar@govadv.com, Scott Govenar <sgovenar@govadv.com>,
MDay@GMSSR.com, Richard Shapiro/NA/Enron@Enron, James D
Steffes/NA/Enron@Enron, Harry Kingerski/NA/Enron@Enron, Janel
Guerrero/Corp/Enron@Enron, Karen Denne/Corp/Enron@ENRON, mpalmer@enron.com,
skean@enron.com, Linda Robertson/NA/Enron@ENRON, Tom Briggs/NA/Enron@Enron,
Joe Hartsoe/Corp/Enron@ENRON, Sarah Novosel/Corp/Enron@ENRON, Donna
Fulton/Corp/Enron@ENRON, Susan J Mara/NA/Enron@ENRON, Sandra
McCubbin/NA/Enron@Enron
		 cc:
		 Subject: FERC Hearing in Boise

Greetings:

Sue Landwehr will be sending around a more comprehensive summary of what
happened at today's FERC hearnig in Boise but asked me to pass along the
following.

Each state was only allowed to have two people at the table.  For California
it was Assembly Speaker Hertzberg and Geoff Brown (newly appointed CA PUC
Commissioner).

Hertzberg did a credible, matter-of-fact job of explaining what California's
doing to resolve the crisis (nice to know that there's someone out there who
can explain what the heck California's doing).  Hertzberg then asked that
FERC do "its part" by imposing price caps in Western wholesale markets.

Hertzberg didn't mention the PG&E bankruptcy or Davis' deal with Edison.

Overall, the "no price cap" message won the day (though Breathitt seems to be
under considerable pressure to give in to caps).

The Governor of Arizona (Jane Hull) had a staffer deliver a letter signed by
9 republicant governors opposing price caps.  Sue will be distributing the
letter.

Best,
Jeff


I'll keep that in mind...

-----Original Message-----
From: eldon sellers [mailto:eldon@direcpc.com]
Sent: Tuesday, September 25, 2001 3:43 PM
To: Dasovich, Jeff
Subject: RE:

Winning isn't everything, but it beats losing.  Also, I don't enjoy playing against people who always lose--unless I'm playing ping pong, golf or Spades.

-----Original Message-----
From: Dasovich, Jeff [mailto:Jeff.Dasovich@ENRON.com]
Sent: Monday, September 24, 2001 1:05 PM
To: Nancy Sellers (E-mail); eldon sellers (E-mail)
Subject:

Thanks again for your gracious hospitality over the weekend and a very
happy anniversary.  Eldon, you were particularly nice to let me win at
just about everything we did.

How much do I owe you for me and Prentice for the golf?

Best,
Jeff

**********************************************************************
This e-mail is the property of Enron Corp. and/or its relevant affiliate and may contain confidential and privileged material for the sole use of the intended recipient (s). Any review, use, distribution or disclosure by others is strictly prohibited. If you are not the intended recipient (or authorized to receive for the recipient), please contact the sender or reply to Enron Corp. at enron.messaging.administration@enron.com and delete all copies of the message. This e-mail (and any attachments hereto) are not intended to be an offer (or an acceptance) and do not create or evidence a binding and enforceable contract between Enron Corp. (or any of its affiliates) and the intended recipient or any other party, and may not be relied on by anyone as the basis of a contract by estoppel or otherwise. Thank you.
**********************************************************************


Tana:

Please prepare an execution copy of the Talisman ETA in the form attached
below.  Dave has approved this letter agreement.  Please notify Lisa Lees
when you send out the final execution copy to Talisman for signature.  (She
is Talisman's EOL marketing rep.)

Thanks,

Leslie


Steve -

Thanks again for meeting with us today.  Attached below is the 2001 Risk
Universe for your info.  If you have any other thoughts or comments, please
don't hesitate to call.

Terrie
x35201


Blair:

Attached below is a redline version of the consent which has been approved by
Enron Canada Corp.

Sara
----- Forwarded by Sara Shackleton/HOU/ECT on 12/13/2000 08:52 AM -----

	Sara Shackleton
	12/12/2000 02:05 PM

		 To: Greg Johnston/CAL/ECT
		 cc: Sarah Heineman/HOU/ECT@ECT
		 Subject: Alberta Gas Prepay and Assignment to BTM

Greg:

I received the following email from RBC and am attaching a redline of
changes.  Since ECC will be signing, let me know if you have any objections.
Sara

----- Forwarded by Sara Shackleton/HOU/ECT on 12/12/2000 02:03 PM -----

	"Fleming, Blair " <blair.fleming@rbcds.com>
	12/08/2000 02:39 PM

		 To: "'Sara.Shackleton@enron.com'" <Sara.Shackleton@enron.com>,
"'sarah.heineman@enron.com'" <sarah.heineman@enron.com>,
"'kelly.boots@enron.com'" <kelly.boots@enron.com>, "Fleming, Blair "
<blair.fleming@rbcds.com>
		 cc: "Darby, Giles" <Giles.Darby@rbcds.com>
		 Subject: Alberta Gas Prepay and Assignment to BTM

As you are aware, we are finalizing the participation of Bank of
Tokyo-Mitsubishi (BTM) into the Alberta Gas Prepay financing.?

Recall there are three swaps:

(a) Commodity Swap between Enron Canada and RBC(b) Commodity Swap between
Chase and RBC(c) Interest Rate Swap between Enron Canada and RBC

We will be participating BTM into the agreements to which Enron is party [(a)
and (c) above].? As a result of this, Enron will not be re-signing any new
ISDA's etc.?? However, Section 7 to the ISDA Master agreement governing
Transfers requires the prior written consent for any transfer of "any
interest or obligation" under the Agreement.? Our view is that the
participation to BTM does qualify as a tranfer of an any "interest or
obligation", ergo we need Enron's consent.? Attached please find a proposed
Consent from Enron prepared by my lawyer.? This is the only document that we
require signed by Enron.? Please take note of the key language contained
therein:

??????? "Enron hereby consents to RBC assigning a 50% participation interest
in the Swap Documents to Bank of Tokyo-???? ?????? Mitsubishi, Ltd., New York
Branch; provided that (a) RBC's rights and obligations under the Swap
Documents shall remain ??????? unchanged, (b) RBC shall remain solely
responsible to Enron for the performance of such obligations and (c) Enron
shall ??????? continue to deal solely and directly with RBC in connection
with RBC's rights and obligations under the Swap Documents."

The commodity swap between Chase and RBC will be "split" and each of RBC and
BTM will have a Swap with Chase for one-half the amount.

Sara(s), please advise whether you are comfortable with our approach and
whether you require any changes to the Consent.? BTM has reviewed the
Participation agreement and is moving forward to getting the doc's approved
internally...we're targeting for a close mid next week (the week of Dec 11)
and accordingly your execution of the Consent within that timeframe would be
much appreciated.? Given that you continue to deal in all ways with RBC, I
have not forwarded you a copy of the Participation agreement....

Thanks and have a good weekend!

-----Original Message-----From:?? Rick Borden
[SMTP:Rick.Borden@macleoddixon.com]Sent:?? Thursday, December 07, 2000 5:47
PMTo:???? blair.fleming@rbcds.comSubject:??????? Enron Canada Corp.
[Comment]??

Please see the attached Consent.

Richard P. BordenMacleod Dixon LLP3700 Canterra Tower400 - 3rd Avenue
S.W.Calgary, Alberta? T2P 4H2Tel:? (403) 267-8362Fax:? (403) 264-5973E-mail:?
rick.borden@macleoddixon.com

<<MACLEOD-.doc>>

 - MACLEOD-.doc


CERA's monthly briefing is on the Western Market for the rest of the summer and into winter. To print off, use the PDF version.
There are some hydroelectric projections in one of the tables that may be helpful, as well as electricity and electric price projections.  Also, there are gas demand projections for the current quarter only.  The last page reiterates the Candian supply situation that was discussed in last week's confrence call with CERA.

Lorna

Title: A Shifting Market Landscape
URL(s):
http://www20.cera.com/eprofile?u=35&m=2527

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

FUNDAMENTALS AND REGULATIONS CHANGE WESTERN ENERGY OUTLOOKS

Western energy markets are heading into summer with shifts in the fundamental
and regulatory environment. New forces will reduce pressures on prices and
reliability as the power peak builds.

*  The June 19 FERC Order represents a strong dampener of power prices.

*  Energy demand is off considerably on a year-over-year basis.

*  Lower energy demand has contributed to an easing in natural gas prices in
California, but higher summer loads will likely bring higher gas prices.

**end**

Follow above URL for complete Monthly Briefing (9 printed pages).

E-mail Category: Monthly Briefing
CERA Knowledge Area(s): Western Energy

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

To make changes to your cera.com profile go to:
http://www20.cera.com/client/updateaccount

Forgot your username and password? Go to:
http://www20.cera.com/client/forgot

This electronic message and attachments, if any, contain information
from Cambridge Energy Research Associates, Inc. (CERA) which is
confidential and may be privileged. Unauthorized disclosure, copying,
distribution or use of the contents of this message or any attachments,
in whole or in part, is strictly prohibited.
Terms of Use: http://www20.cera.com/tos
Questions/Comments: webmaster@cera.com
Copyright 2001. Cambridge Energy Research Associates


Bob,
Wanted to say hello. My trip to Ireland and England
was a blast. Had a good time in both countries. A lot
of history blah, blah, blah. Been with the first
Marines for about two weeks and I am beginning to
figure my way around. Working out every day and
running (on my own) a great deal. Do not want to be
the wimp of the bunch. Should be fun two years with a
lot of training which will culminate with a deployment
to WestPac next year sometime and thats it.

Otherwise thing are good for me. I will be heading bck
to NY for the third week in Sept to attend a wedding
of my HS friend Gary. You probably remember him. Will
be home for a week. First time since I left Med
school. Taking my girlfriend with me back home. She
has already met the Rat in Vegas. She also met Gary
and his bride to be when they came out here for  a
week in the winter.

Hope all is well with you. Any little Bobs in the
future? Stay in touch and I hope the Yankees can hold
on and the Knicks finally unload the old man. Now,
there is no way they can compete with Miami.

Later,
Fran

__________________________________________________
Do You Yahoo!?
Yahoo! Mail - Free email you can access from anywhere!
http://mail.yahoo.com/


WRONG!!
---------------------- Forwarded by Susan Scott/ET&S/Enron on 06/16/2000
09:10 AM ---------------------------

"Norman A. Pedersen" <napedersen@JonesDay.com> on 06/16/2000 01:08:18 AM
To: "Cherry, Brian - TPBKC" <BCherry@sempra.com>
cc: "'Pocta, Robert M.'" <rmp@cpuc.ca.gov>, "Cherry, Brian - TPBKC"
<BCherry@sempra.com>, "'AlexanMS@sce.com'" <AlexanMS@sce.com>,
"'paulamirault@aec.ca'" <paulamirault@aec.ca>, "'david.bayless@utility.com'"
<david.bayless@utility.com>, "'Tomb@crossborderenergy.com'"
<Tomb@crossborderenergy.com>, "'Burkee@cts.com'" <Burkee@cts.com>,
"'Craigc@calpine.com'" <Craigc@calpine.com>,
"'Rick.Counihan@greenmountain.com'" <Rick.Counihan@greenmountain.com>,
"'Jdasovic@enron.com'" <Jdasovic@enron.com>, "'Mday@gmssr.com'"
<Mday@gmssr.com>, "'bdingwall@unitedgas.com'" <bdingwall@unitedgas.com>,
"'Douglass@arterhadden.com'" <Douglass@arterhadden.com>, "'eke@aelaw.com'"
<eke@aelaw.com>, "'Jfawcet@enron.com'" <Jfawcet@enron.com>,
"'rfoss@coral-energy.com'" <rfoss@coral-energy.com>, "'Gileau, Patrick L.'"
<plg@cpuc.ca.gov>, "'johnj@bcjlaw.com'" <johnj@bcjlaw.com>,
"'Johnson_Pamela@lacoe.edu'" <Johnson_Pamela@lacoe.edu>,
"'karpjos@sf.whitecase.com'" <karpjos@sf.whitecase.com>, "'jleslie@luce.com'"
<jleslie@luce.com>, "'kmccrea@sablaw.com'" <kmccrea@sablaw.com>,
"'jmpa@dynegy.com'" <jmpa@dynegy.com>, "'porterdk@sce.com'"
<porterdk@sce.com>, "'RochmanM@cubjpa.org'" <RochmanM@cubjpa.org>,
"'RochmanM@spurr.org'" <RochmanM@spurr.org>, "'susan.scott@enron.com'"
<susan.scott@enron.com>, "Betonte, Robert - TP2RSB" <RBetonte@socalgas.com>,
"Brill, Thomas R." <TBrill@sempra.com>, "Follett, B. David - TPDBF"
<DFollett@sempra.com>, "Harrigan, James P. - TP1JPH"
<JHarrigan@socalgas.com>, "Hay, James E." <JHay@sempra.com>, "Lorenz, Lad -
TPLPL" <LLorenz@socalgas.com>, "McVay, Nancy W - TPNWM"
<NMcVay@socalgas.com>, "Morrow, Rick - TP3RMM" <RMorrow@socalgas.com>,
"Purves, Ralph A." <RPurves@SDGE.com>, "Sakarias, Wayne P."
<WSakarias@SDGE.com>, "Schavrien, Lee" <LSchavrien@sempra.com>, "Sullivan,
Glen J." <GSullivan@sempra.com>, "Surak, Thomas M. - TP1TMS"
<TSurak@socalgas.com>, "Teeter, James S." <JTeeter@SDGE.com>, "Van Lierop,
Jan - TP2JXV" <tp2jxv@socalgas.com>, "Watson, Steven - TP2SAW"
<SWatson@socalgas.com>, "Wright, Gillian - TP1GXW" <GWright@sempra.com>,
"Barker, David - TPDTB" <DBarker@socalgas.com>, "'How-Downing, Lindsey'"
<lindseyhowdowning@dwt.com>, "'Jun, Christine'" <chj@aelaw.com>, "'Khoury,
Dexter'" <bsl@cpuc.ca.gov>, "'ack@aelaw.com'" <ack@aelaw.com>, "Nelson, Eric
B. - TPEBN" <ENelson@socalgas.com>, "Suwara, J.- TPJUS" <JSuwara@sempra.com>,
"Reed, William" <WReed@sempra.com>, "'Pedersen, Norman'"
<napedersen@jonesday.com>, "'Paul, Joe'" <jmpa@dynegy.com>, "'Hawiger,
Marcel'" <marcel@turn.org>, "'Fawcett, Jeff'" <jfawcet@enron.com>, "'O'Neill,
Ed'" <ewo@jmbm.com>, "'Power, Pat'" <pjpowerlaw@aol.com>, "'Ramirez, Jaime'"
<jaime.ramirez@swgas.com>, "'Black, Larry'" <larry.black@swgas.com>, "Fair,
Pam" <PFair@SDGE.com>, "'Hall, Rich'" <rch8@pge.com>, "'Eisenman, Eric'"
<EXE3@pge.com>, "'Stoner, Ron'" <rrs5@pge.com>, "'McConn, Kathy'"
<mcconnk@epenergy.com>

Subject: Re: Final Late Exhibit Draft

_______________________________________________________________

This message and any attachments are intended for the individual or entity
named above.  If you are not the intended recipient, please do not read,
copy, use or disclose this communication to others; also please notify the
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Thank you.
_______________________________________________________________

     Your proposed draft exhibit goes substantially beyond the ALJ's order.
ALJ Biren specifically stated that the the late-filed exhibit "should be
narrowly focused on the mismatch of capacity." Tr. 1021.Thus, you need to
eliminate the column entitled "Total Take-away Capacity."  Furthermore, the
column is both suspect (e.g., the representation that EOR is 770 MMcfd) and
misleading (e.g., the inclusion of SWG or PG&E in "S. Calif Take-away
Capacity").  Also, you need to eliminate the "Avg. Daily Market" box.  The
following is what should be submitted to ALJ Biren:
(See attached file: #1070989 v1 - FIRM PIPELINE CAPACITY DELIVERY (EX. TO
I.99-07-003).doc)
 - #1070989 v1 - FIRM PIPELINE CAPACITY DELIVERY (EX. TO I.99-07-003).doc


Greetings:
I'm assuming that Washington/Houston has this covered, but if there's anything I can do to assist, don't hesitate.
Best,
Jeff

	Susan J Mara 07/26/2001 11:42 AM 	   To: Jeff Dasovich/NA/Enron@Enron  cc:   Subject: Transwestern Hearing

Hey, time to join the fun at FERC!!!

Sue Mara
Enron Corp.
Tel: (415) 782-7802
Fax:(415) 782-7854
----- Forwarded by Susan J Mara/NA/Enron on 07/26/2001 09:42 AM -----

	Rebecca W Cantrell/ENRON@enronXgate 07/26/2001 08:08 AM 	   To: Susan J Mara/NA/Enron@ENRON, Ray Alvarez/NA/Enron@ENRON  cc:   Subject: Transwestern Hearing

Here's a little more detail on the issues that FERC wants to explore with regard to the Transwestern negotiated deals:

NGI's Daily Gas Price Index
published : July 26, 2001
FERC Targets Transwestern for Market-Power Hearing
FERC called for a hearing to determine whether Transwestern Pipeline exercised market power when it awarded negotiated-rate contracts that led to shippers being charged up to $27/MMBtu last February, when the firm transportation rate to the California border was only 38 cents/MMBtu.
That was "70 times the recourse rate," said Commissioner Linda Breathitt, who called the matter up for discussion at the Commission's regular meeting. "Thirty-eight cents versus $27, that's a big difference in prices and we ought to be looking at that," responded Commissioner William Massey.
"...[W]e believe closer scrutiny of transactions that provide the opportunity to impose rates many multiples in excess of maximum approved tariff rates is necessary, especially in light of our serious concern regarding the high prices for natural gas in California relative to prices in the rest of the country and their consequential effect on wholesale electricity prices in California," the order noted [RP97-288-009].
FERC's action was in response to a show cause order it issued in March, directing Transwestern to explain how it had firm capacity available on its pipeline to move gas under the negotiated-rate transactions, and why its actions in entering into the negotiated-rate agreements didn't violate Commission regulations and policy regarding firm transportation service and negotiated-rate agreements.
FERC's order requires Transwestern to make certain changes to the posting of daily capacity. "I'm satisfied that this should take care of the issue prospectively," Breathitt said. But with respect to the negotiated agreements, "our order today establishes a hearing of limited scope on a fast-track basis to determine whether Transwestern exercised market power in awarding these...contracts."
It directs an administrative law judge to convene a pre-hearing conference within 10 days, and issue an initial decision on the matter within 60 days. The hearing will focus on three issues: 1) whether Transwestern capacity was advertised and awarded in a fair manner; 2) whether the rates negotiated were the result of the exercise of market power; and 3) why the capacity awarded was available without interruption while recourse service was not available. "In addition, I have a question [as to] why shippers agreed to such rates when much lower recourse rates should have been available under our negotiated rate program," Breathitt said.
The shippers that entered into the negotiated-rate transactions with Transwestern include Richardson Products Co., Sempra Energy Trading Corp., BP Energy Co., Astra Power LLC and Reliant Energy Services.


Kay,
One of the first things we do after we execute an option agreement is to get into the interconnect queue.  To do so, we must enter into an interconnect study agreement and in the past we have entered into these agreements using the same project agreement that has the option agreement.  Are you saying that we need two project companies for each project: one for the option agreement and one for the interconnect study agreement?  As you may know, it has taken 11 months to get to the point in the Midway project from the time we executed an interconnect study agreement with FPL to today when we are ready to begin negotiating a construction and connection agreement.  Would you please clarify the issue for me?

 -----Original Message-----
From: 	Carnahan, Kathleen
Sent:	Wednesday, May 23, 2001 1:03 PM
To:	Mann, Kay
Cc:	Krause, Greg
Subject:	RE: FW: New lease option

Okay.  I will set up a new LLC (Homestead Development Company, LLC, if available).  Would it be preferable for its sole member to be Lauderdale Land Development Company, LLC or ENA?

 -----Original Message-----
From: 	Mann, Kay
Sent:	Wednesday, May 23, 2001 12:46 PM
To:	Carnahan, Kathleen
Subject:	Re: FW: New lease option

I wouldn't use  an LLC with an prior history.  We might have to get the old stuff approved in order to put the equity into TurboPark.  If the LLC paid for an interconnect study, it could be a hard cost and we are dead.

I know this seems silly, but hey, it is!

ckm

From:	Kathleen Carnahan/ENRON@enronXgate on 05/23/2001 11:31 AM
To:	Kay Mann/Corp/Enron@Enron
cc:

Subject:	FW: New lease option

We have decided to use:  Voyager Development Company, L.L.C. for the new Homestead land option.  We had initially planned to use it for an option that we let go (Option Agreement never got assigned to Voyager either).  According to Greg Krause, the only thing associated with Voyager was an old interconnect study request that was paid for and never used.  I feel confident that Voyager is "clean" to use.

Kathleen
 -----Original Message-----
From: 	Ann Elizabeth White
Sent:	Saturday, May 19, 2001 12:19 AM
To:	Kathleen Carnahan
Subject:	New lease option

I talked to Kay about the new land option Greg will be negotiating this weekend in Homestead.  She said to put the options in the terminal company, not Lauderdale Land, LLC as you had suggested.  Pick one of the other LLCs for me and let me know the name.

Thanks.


It's a hell hole, whaddya think?  Be great if you stopped by.  Just let me know when you're going to be here.  Love to have dinner and catch up.

You involved at all with the gas infrastructure stuff that's going on at the Cal PUC.  If not, I think that you should be.  Now that Fawcett has left TW and Susan Scott's in our shop in Houston with Christie, I'm a little concerned about TW (I don't have as much time to monitor anymore).  Be great if you got involved.

Hope all is well with you and yours.

Best,
Jeff


Gerald,

I was finally able to find the Field & County for the Samedan deal.

Field/County:	Frost/Starr

Please prepare and send this confirmation as soon as possible.

Thanks,
Judy

 -----Original Message-----
From: 	Thorne, Judy
Sent:	Thursday, July 12, 2001 5:13 PM
To:	Nemec, Gerald
Subject:	FW: ENA Upstream deals

Gerald,

Here is another GTC Dedicated Reserves confirm that needs preparing. Here is the well information:

Field/County/State: 		?  / ? / Texas
Well Name:			Heard #1
Meter No./Pipeline: 		01-1990/Tennessee Gas Pipeline
Working Interest:		100%
Delivery Point Meter:		020826/Tennessee Gas Pipeline

How critical is the Field & County?  I just can't find that information.  I have the schedulers looking for it so if/when they find it I will forward that to you.

Thanks,
Judy Thorne

 -----Original Message-----
From: 	Deming, Richard
Sent:	Monday, July 02, 2001 9:47 AM
To:	Nemec, Gerald
Cc:	Wallumrod, Ellen; Thorne, Judy
Subject:	ENA Upstream deals

As per Judy Thorne, I believe you are confirming these deals.  Please find below details of the Phy Gas deal with dedicated wells contract:

Deal Date: 6/28/01
Deal No: 888808
Buyer: ENA Upstream Company LLC
Seller: Samedan Oil Corporation
Start Date: 7/01/01
End Date: 7/31/01
Interruptible
Volume: 4,500 / day
Price: USD 3.02500
Delivery Point:   Tennessee Gas Pipeline Co. - Zone 0 100 LN

Please let me know if you need any more details.

Thanks,
Richard
x54886


Here are the stray facts I mentioned:
  Sulfur River system:  1200 miles of gathering in East Texas and some
treating/processing
  approx. 170 mmcf/d of throughput currently; significant growth expected
from new drilling [?]
   EBITDA:  $40mm/yr
   Rex Kouri (sp?) is the founding equity in Sulfur River  (I haven't heard
of him, but they acted like I should have)
   An outfit named "Energy Spectrum" put $30 mm in equity into Sulfur River a
few years ago and thinks now would be a good time to cash out
   $90 mm in debt
   $1/mmbtu gath/proc. margins
  The guys I talked to said the Sulfur River assets, coupled with the Koch
upstream assets in the area, would make an interesting combined play.
   Koch was asking $200 mil. for their gathering assets a year ago or so--I
don't know if its the exact set of assets that Pat and Jerry were suggesting
we'd want to include in the package.

The two guys involved are Pat Keeley, of Friedman Billings and Ramsay in DC
and Jerry Langdon (the ex-FERC Commissioner), who is an investor/dealmaker.
Let me know if you want me to get these guys to come in and pitch this deal
to you/your team.  Reminder--Langdon is talking to Stan on the 10th on EOTT
and he may bug Stan about this stuff, so it may be good to get to Stan
first.  DF


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No problem - I can only imagine the process!  I have been up to my ears in
DWR contracts anyways.

 -----Original Message-----
From:  Dasovich, Jeff
Sent: Wednesday, July 11, 2001 4:52 PM
To: Thome, Jennifer
Subject: RE: CERA/UCLA Anderson report

thanks.  and i apologize profusely for having excluded you from the list.  it
was, as you can imagine (having worked together on these fire drills together
in the past), it was not pretty---process wise.

	Jennifer Thome/ENRON@enronXgate 07/11/2001 04:12 PM 	   To: Jeff
Dasovich/NA/Enron@Enron  cc:   Subject: RE: CERA/UCLA Anderson report

Great job on the Dunn letter, by the way!
 -----Original Message-----
From:  Dasovich, Jeff
Sent: Wednesday, July 11, 2001 4:10 PM
To: Thome, Jennifer
Subject: Re: CERA/UCLA Anderson report

thanks.


Rich, I am forwarding a message from Jim Rylander and his son, Reagan.  Reagan, who has an MBA from Duke, is looking for a position in the San Franciso area.  If you become aware of any opportunites, I would appreciate your letting Jim or Reagan know.  Thank you.  Jim

 -----Original Message-----
From: 	"jim rylander" <rylanderj@home.com>@ENRON [mailto:IMCEANOTES-+22jim+20rylander+22+20+3Crylanderj+40home+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Friday, April 06, 2001 9:21 AM
To:	Derrick Jr., James
Subject:	Fw: rylander  job search

jim-per our discussion.    thanks!

> > > -----Original Message-----
> > > From: Reagan Rylander
> > > To: Rylander, Jim
> > > Sent: 3/6/01 1:32 AM
> > > Subject: job search
> > >
> > > In response to the economic downturn, I am widening my
> > > job-search net to include several types of positions
> > > at several types of technology-related companies in
> > > one location: San Francisco (also Oakland, San Mateo,
> > > San Bruno, Burlingame, Emeryville, Sausalito, Marin,
> > > Berkeley).
> > >
> > > Experience: I received my MBA from Duke's Fuqua School
> > > of Business in May, 2000 and have a work background in
> > > International Logistics/Transportation and Information
> > > Technology.
> > >
> > > Desired Positions: Business Development, Product
> > > Management, Product Marketing positions
> > >
> > > Desired Company Types:
> > > 1) International Logistics/Transportation
> > > (DHL, APL, ?)
> > > 2) Supply Chain/Logistics/eProcurement Technology
> > > (Ariba, iCargo, Rapt, Speedchain, Pakana )
> > > 3)Wireless Technology companies
> > > (Brience, Mobilesys, Openwave, IPWireless)
> > > 4) Larger Technology companies (BMC-type):
> > > (BEA, Webmethods)
> > > 5) Internet marketplaces in music & A/E/C industry
> > > (citadon)
> > >
> > > Some other interesting companies in SF include Avasta,
> > > Kenamea, macromedia, Gap, Levis
> > >
> > > Thanks!
> > > Reagan
> > >
> > >
> > > __________________________________________________
> > > Do You Yahoo!?
> > > Get email at your own domain with Yahoo! Mail.
> > > http://personal.mail.yahoo.com/
> > >  <<rylander resume.doc>>
> > >           ++++++CONFIDENTIALITY NOTICE+++++
> > > The information in this email may be confidential and/or privileged.
> This
> > > email is intended to be reviewed by only the individual or
organization
> > > named above.  If you are not the intended recipient or an authorized
> > > representative of the intended recipient, you are hereby notified that
> any
> > > review, dissemination or copying of this email and its attachments, if
> > any,
> > > or the information contained herein is prohibited.  If you have
received
> > > this email in error, please immediately notify the sender by return
> email
> > > and delete this email from your system.  Thank You
> > >
> >
>

 - rylander resume.doc


Start Date: 1/7/02; HourAhead hour: 1;  No ancillary schedules awarded.  Variances detected.
Variances detected in Load schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002010701.txt

---- Load Schedule ----
$$$ Variance found in table tblLoads.
     Details: (Hour: 1 / Preferred: 339.53 / Final: 339.50)
  TRANS_TYPE: FINAL
  LOAD_ID: PGE3
  MKT_TYPE: 2
  TRANS_DATE: 1/7/02
  SC_ID: ENRJ


The following is a redline version of the execution version (so we hope)
versus the last draft you saw.  Please advise if there are any
problems/comments.

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 07/17/2000 10:21
AM ---------------------------
From: Kathleen Clark@ENRON_DEVELOPMENT on 07/17/2000 09:50 AM
To: Kay.Mann@enron.com
cc:

Subject: ABB - Comparision of Rev 10 vs. 12(final)


--------- Inline attachment follows ---------

From:  </O=ENRON/OU=NA/CN=RECIPIENTS/CN=LKITCHEN>
To: 'Mark.Bridges@ubsw.com@ENRON', Forster, David </O=ENRON/OU=NA/CN=RECIPIENTS/CN=DFORSTER>, Oxley, David </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Doxley>, louise@enron.com
CC: breilly@ubspw.com
Date: Friday, February 1, 2002 9:50:44 GMT
Subject:

No reason I can see

 -----Original Message-----
From: 	Mark.Bridges@ubsw.com@ENRON
Sent:	Tuesday, January 29, 2002 8:37 AM
To:	Forster, David; Oxley, David; louise@enron.com
Cc:	breilly@ubspw.com
Subject:	Business cards/Amex Cards for new UBS Warburg Energy LLC employees

Hello Louise,Dave,David,

Is there any reason why we should not get started with the process of
getting business cards and Amex cards for all folks that have signed
up to join the new entity?

Mark

Visit our website at http://www.ubswarburg.com

This message contains confidential information and is intended only
for the individual named.  If you are not the named addressee you
should not disseminate, distribute or copy this e-mail.  Please
notify the sender immediately by e-mail if you have received this
e-mail by mistake and delete this e-mail from your system.

E-mail transmission cannot be guaranteed to be secure or error-free
as information could be intercepted, corrupted, lost, destroyed,
arrive late or incomplete, or contain viruses.  The sender therefore
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verification is required please request a hard-copy version.  This
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construed as a solicitation or offer to buy or sell any securities or
related financial instruments.


Sherri,

Any resolution of the scheduling conflict Jeff Skilling had for February the
22nd?
Our friends at UT are ready to make the reservations and send out invitations
to this conference

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 10/12/2000
05:00 PM ---------------------------

"Ehud I. Ronn" <eronn@mail.utexas.edu> on 10/12/2000 10:12:56 AM
To: Richard.Causey@enron.com, Vince.J.Kaminski@enron.com
cc:
Subject: Re: Spring 2001 Conference Participation by Jeffrey K. Skilling

Rick / Vince:

Good morning.

Further to my discussions with Vince during his visit to the Energy Finance
Program yesterday, I write at this time to inquire whether Mr. Skilling's
assistant has been able to confirm his participation as 2/22/2001 keynote
speaker at our Conference.

With thanks for your intercession on our behalf,
Ehud Ronn

==============================================
     Ehud I. Ronn
     Professor of Finance and Jack S. Josey Professor in Energy Studies
     Director, Center for Energy Finance Education and Research
     McCombs School of Business
     University of Texas at Austin
     Austin, TX. 78712-1179
     Voice:  (512) 471-5853
      FAX:   (512) 471-5073
      Internet:  eronn@mail.utexas.edu
=================================================


Richard--

We were intrigued by the news of the cases against the generators and
marketers in California.? Can we be of any help to Enron??

Regards,

Ed Feo

________________________________
Edwin F. Feo
Milbank, Tweed, Hadley & McCloy LLP
601 South Figueroa Street, 30th Floor
Los Angeles, CA? 90017
efeo@milbank.com
http://www.milbank.com
(213) 892-4417 - Direct Dial
(213) 892-4717 - Direct Fax
(213) 629-5063 - General Fax
(213) 446-3206 or (310) 968-0670 - Mobile

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


I have left messages with Jim, Bob and Harry.  I will let you know if I hear anything.

Also, do you have any idea on the timing of the additional volume information?

Thanks

-----Original Message-----
From: Hayslett, Rod
Sent: Friday, November 23, 2001 1:37 PM
To: Taylor, Sarah
Subject: Fw: Transwestern information requests

Here is the message
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)

-----Original Message-----
From: Brent.Wahl@jpmorgan.com <Brent.Wahl@jpmorgan.com>
To: Hayslett, Rod <Rod.Hayslett@ENRON.com>
CC: Eric.Fornell@jpmorgan.com <Eric.Fornell@jpmorgan.com>; DAVID.EDELSON@chase.com <DAVID.EDELSON@chase.com>; Carl_O_Vevle%JPMORGAN@restricted.chase.com <Carl_O_Vevle%JPMORGAN@restricted.chase.com>
Sent: Fri Nov 23 13:33:28 2001
Subject: Transwestern information requests

Rod:

As per our phone conversation, the list of information we would like to
have follows:

1.  FERC Form 2s for the last three years
2.  Revenue breakdown:
   Assumptions made for the contracted period, as well as the time period
   beyond current contracts - firm/interruptible mix and volumes, tariffs
   for each type of transportation contract
   A build up from contracts to the revenues in the model would be ideal
3.  As before, compressor gas volumes and assumed sales prices for the
projected years
4.  As before, the story as it relates to CERA's view of the world
5.  Explicit calculation of rate base going forward
6.  Employee benefit plan information - funding status, return rates,
future liabilities

Thanks Rod.

When you have a time in mind for a call to discuss the above list please
contact:

Eric Fornell

Home: 516-626-9464

or myself

Home: 914-833-0234
Work:   212-270-6154
Cell:      646-232-5305


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February 27, 2002

QUOTE OF THE DAY

"We're at war against terrorists. You can't spend all your
time fighting with your friends."

EDWARD W. HAYES,on a plan to distribute money in the Twin Towers Fund.

NATIONAL

Disturbing Finding on Young Drinkers Proves to Be Wrong

A report that under-age drinkers consumed a quarter of the nation's alcohol was inaccurate, according to the organization that issued it.

Baby Spared Mother's Fate by Genetic Tests as Embryo

A baby who was genetically screened as an embryo will not suffer the likelihood of developing a rare form of Alzheimer's disease.

Man Pleads Guilty to Diluting Drugs

A Missouri pharmacist pleaded guilty to 20 federal counts in an agreement with the government that would avoid trial.

MORE NATIONAL NEWS

Special Offer On A Great Mobile Audio Player!

Get your own Audible Otis, the MP3 player made for people who want to listen to more than just music.  The pocket-sized Otis lets you download and listen to recent bestsellers from John Grisham, Brad Meltzer, Nelson DeMille and thousands of others.  Act now and get your specially priced MP3 player.  Plus - we'll send you a FREE cassette adapter (a $20 value).

INTERNATIONAL

Bush Welcomes Saudi Proposal on Mideast Peace

A plan for Israel to withdraw from the West Bank and Gaza in return for normalization of relations with Arab nations received the president's praise on Tuesday.

U.S. May Send G.I.'s to Ex-Soviet Area in Training Mission

The possible deployment to Georgia would open a new front in America's war on terrorism, building on the current operations in Afghanistan and in the Philippines.

Pakistan Willing to Turn Over Kidnapping Suspect, but Not Yet

Pakistan agreed in principle on Tuesday to surrender the chief suspect in the killing of Daniel Pearl to the United States, but only after it concluded its investigation.

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BUSINESS

The World According to Enron's Ex-Chief

Jeffrey K. Skilling proclaimed his innocence again on Tuesday, but in the process he joined in the chorus of people who believe that something was rotten at Enron.

Ex-Chief of Enron Takes Defiant Tone in Testimony Before Senate

Jeffrey K. Skilling said at a contentious Senate hearing that he did not lie to Congress earlier this month about his role in Enron's collapse.

Enron Hid Big Loans, Data Indicate

Even as executives were warned that huge corporate debts were being hidden from investors, the company entered into a series of deals that appear to have disguised more than $350 million in new loans.

MORE BUSINESS NEWS

TECHNOLOGY

Congressional Broadband Fight Intensifies

The House is expected to approve a bill to deregulate the high-speed Internet market that is largely shaped by the huge campaign contributions it has generated.

Big British Phone Company to Cut Prices for Broadband

The BT Group said that it would reduce the price of high-speed Internet connections, a move that may signal the new management team's willingness to tackle problems that have long plagued the company.

At Hewlett, New Anger in Run-Up
to the Vote

In its final weeks, the Hewlett-Packard proxy fight is becoming increasingly tough and increasingly personal.

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POLITICS

Room, but Not to Maneuver, for Foes of Campaign Bill

Senator Tom Daschle is allowing a few more days for discussions over the campaign finance bill before trying to bring it to the Senate floor.

Bush Welcomes Saudi Proposal on Mideast Peace

A plan for Israel to withdraw from the West Bank and Gaza in return for normalization of relations with Arab nations received the president's praise on Tuesday.

Bush Urges Work and Marriage Programs in Welfare Plan

President Bush called for even stronger work requirements and $300 million annually to promote marriage and strengthen families among the poor.

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SPORTS

Devils' Offense Heats Up as Fleury Melts Down

The Devils rallied for a victory over the Rangers, who lost Theo Fleury in the final minutes of the game because of a misconduct call.

Knicks' Downfall Began With Ewing Trade

The Knicks' decision to trade Patrick Ewing was the first in a series of questionable moves that has put the team on the verge of missing the playoffs for the first time in 15 years.

Knee Surgery Puts Jordan's Season in Jeopardy

The Wizards' Michael Jordan will have surgery on his injured right knee, leaving his status for the rest of the season uncertain.

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ARTS

Black Actors Are Still Keeping Their Eyes on the Prize

For only the second time in Academy Award history, 3 of the 10 acting nominees in lead roles are black. But does that mean the problem has been solved?

Transcending Form in the Name of Humanity

"V" is a life-affirming new dance by Mark Morris, not only one of his best pieces in many years but also one of the few great works that modern dance has produced in a decade.

In a Modern 'Medea,' Jason Feels Free in the Arms of a Prince

A production of "Medea" in which Jason runs off with the king's son has gained instant renown in Paris, with one French critic calling it "the first explicitly homosexual opera."

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NY REGION

In a Twin Towers Charity Shift, Giuliani to Give Money Quickly

Rudolph W. Giuliani agreed to distribute the   $100 million remaining in the city's Twin Towers Fund to the families of the rescuers killed on Sept. 11.

Tax Agency Was Suspected for a Decade

The indictment of 18 former and current city tax assessors on Monday was, it turns out, years in the making.

Trustee Ends His Oversight of District 37; Chief Chosen

The trustee who has run District Council 37 for three years in an effort to cleanse it of corruption announced that he was ending the   trusteeship.

MORE NY REGION NEWS

OP-ED

1 Country, 2 Futures

By THOMAS L. FRIEDMAN

I've concluded that there   are two possible models for Saudi   Arabia's future. I call them the "Soviet school" and the "China school."

Mean, Nasty and Missing

By MAUREEN DOWD

If schools are overrun with alpha girls, why isn't America run by alpha women? Besides Oprah, it's hard to even think of alpha women who are still soaring.

Only Buffer Zones Can Protect Israel

By DORE GOLD

The only realistic diplomatic option for the future is a long-term interim agreement that leaves Israel with vital security zones in the West Bank.

MORE OP-ED  NEWS

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This is the data that we will use to build our Socal growth estimates.   Take
a look at the file and then we can discuss how to combine this with current
pipeline capacity and future expansions.

Mike
---------------------- Forwarded by Mike Grigsby/HOU/ECT on 11/05/2000 09:11
PM ---------------------------

	From:  Phillip K Allen                           11/03/2000 01:57 PM

To: Mike Grigsby/HOU/ECT@ECT, Keith Holst/HOU/ECT@ect, Frank Ermis/HOU/ECT@ECT
cc:
Subject: New Generation as of Oct 24th

---------------------- Forwarded by Phillip K Allen/HOU/ECT on 11/03/2000
01:40 PM ---------------------------

Kristian J Lande

11/03/2000 08:36 AM

To: Christopher F Calger/PDX/ECT@ECT, Jake Thomas/HOU/ECT@ECT, Frank W
Vickers/HOU/ECT@ECT, Elliot Mainzer/PDX/ECT@ECT, Michael McDonald/SF/ECT@ECT,
David Parquet/SF/ECT@ECT, Laird Dyer/SF/ECT@ECT, Jim Buerkle/PDX/ECT@ECT, Jim
Gilbert/PDX/ECT@ECT, Terry W Donovan/HOU/ECT@ECT, Jeff G
Slaughter/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Ed Clark/PDX/ECT@ECT
cc: Tim Belden/HOU/ECT@ECT, Mike Swerzbin/HOU/ECT@ECT, Matt
Motley/PDX/ECT@ECT, Greg Wolfe/HOU/ECT@ECT, Phillip K Allen/HOU/ECT@ECT,
Chris H Foster/HOU/ECT@ECT, Kim Ward/HOU/ECT@ECT, Paul Choi/SF/ECT@ECT, John
Malowney/HOU/ECT@ECT, Stewart Rosman/HOU/ECT@ECT
Subject: New Generation as of Oct 24th

As noted in my  last e-mail, the Ray Nixon expansion project in Colorado had
the incorrect start date.  My last report showed an online date of May 2001;
the actual anticipated online date is May 2003.

The following list ranks the quality and quantity of information that I have
access to in the WSCC:

 1) CA - siting office, plant contacts
 2) PNW - siting offices, plant contacts
 3) DSW - plant contacts, 1 siting office for Maricopa County Arizona.
 4) Colorado - Integrated Resource Plan

If anyone has additional information regarding new generation in the Desert
Southwest or Colorado, such as plant phone numbers or contacts, I would
greatly appreciate receiving this contact information.


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 03/06/2000
04:11 PM ---------------------------

Vince J Kaminski
03/06/2000 03:32 PM
To: Karla Feldman/HOU/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT, Stinson Gibner/HOU/ECT@ECT
Subject: Re: Financial Engineering Associates

Karla,

Thanks. Here are Helyette's coordinates:

Helyette Geman
Universite de Paris-Dauphine
Place du Marechal de Lattre-de-Tassigny
75775 Paris CEDEX 16

Phone: 33 1 44 054 943 (o)
 33 1 46 040 110 (h) (f)
Fax  : 33 1 44 054 937
geman@cidmail.services.dauphine.fr
Helyette.Geman@dauphine.fr

Vince

	From:  Karla Feldman                           03/06/2000 01:50 PM

To: Vince J Kaminski/HOU/ECT@ECT, Stinson Gibner/HOU/ECT@ECT
cc:
Subject: Financial Engineering Associates

Vince and Stinson,

I checked the file and the maintenance that automatically renews on 4/1/2000
is for the following products:

All 4 of your @GLOBAL licenses
SPAV
SWING

I will go ahead and contact FEA and see about getting the renewal invoice for
these.  I'll send it to Shirley for payment once I have it.

The products:  @INTEREST, SEAPC, and SEAPP have not been on maintenance for a
while.  FEA told us a couple of years ago I believe that they do not have
maintenance available for these products any longer.  So, you don't need to
worry about cancelling @INTEREST.

Also, just FYI - your @ENERGY.1 and @ENERGY.2 licenses have maintenance
through 10/20/2000.

If you have any questions, please let me know.  Otherwise, I will proceed
with contacting FEA about you renewal of the @GLOBAL, SPAV, and SWING
licenses.

Thanks,
Karla


Interesting Article
----- Forwarded by Elizabeth Sager/HOU/ECT on 11/30/2000 09:02 AM -----

	Alan Aronowitz
	11/01/2000 10:34 PM

		 To: Elizabeth Sager/HOU/ECT@ECT
		 cc: Mark E Haedicke/HOU/ECT@ECT
		 Subject: Energy Trading Paper

FYI. This is a pretty paper on legal/risk aspects of power trading. I think
it would help in training future lawyers/staff.

Alan
----- Forwarded by Alan Aronowitz/HOU/ECT on 11/01/2000 10:32 PM -----

	Jane McBride@ENRON
	10/16/2000 02:43 AM

		 To: Alan Aronowitz/HOU/ECT@ECT, Mark Evans/Legal/LON/ECT@ECT, Joseph P
Hirl/AP/ENRON@ENRON, Michael Grimes/AP/Enron@Enron, Nicholas
O'Day/AP/Enron@Enron, Darren Delage/AP/Enron@Enron, Mark
Crowther/AP/Enron@Enron
		 cc:
		 Subject: Energy Trading Paper

I have received this note (for free) from Baker & McKenzie, which was
prepared by one of their US offices.
Feel free to distribute this to anyone within Enron who you think find it
interesting.
Jane

----- Forwarded by Jane McBride/AP/Enron on 10/16/2000 04:41 PM -----

	Paul.TYO.Davis@BakerNet.com
	10/16/2000 03:53 PM

		 To: Jane.McBride@enron.com
		 cc:
		 Subject: Energy Trading Paper

Dear Jane,

Further to our discussions on Friday, I attach a copy of the Energy Trading
Paper prepared by our Washington office.

The paper is relevant to what we are focussing on now with EPSA, and
discusses:
what is happening in the US and English markets, the legal issues in merchant
power sale contracts, the EEI agreement (on which Enron's EPSA is largely
based,
or was it vice versa), and compliance issues.

A few of points I found particularly interesting:

* The way in which many of the risks are born seems to be reasonably
settled in the US market/EEI form.  The issue is to what extent Japan
will/should follow the same allocation, on which subject the Enron EPSA seems
to
be setting the pace, at least for the moment.

* We cannot discount the danger that some of the counterparties in Japan
will in fact become insolvent or choose not to perform.  We have attempted to
cover this in EPSA.

* The treatment of force majeure, particularly non-performance by the
back-to-back supplier/customer, will need more attention as specific fact
situations arise.

* The need for a commercial/legal response system to be in place to
immediately address any failures.

I hope you find the paper useful and, as discussed, I rely on you to
distribute
it to other persons within Enron who are likely to be interested.

Best regards

Paul Davis
 <<Energy Trading Paper.doc>>

------------------------------------------------------------------------------
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--------
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Joint Enterprise Offices). The contents of this e-mail may be privileged and
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 - Energy Trading Paper.doc


Sapient Representatives: Paula Clairemont Poss, Khurram Sarooqui & Chris LopesSapient Representatives: Paula Clairemont Poss, Khurram Sarooqui & Chris Lopes