COLUMBIA GULF TRANSMISSION COMPANY
                        NOTICE TO ALL INTERESTED PARTIES
                                OCTOBER 22, 2001

Notice ID: 3200
5 - NO RESPONSE REQUIRED

For after hours business on weekdays a Columbia Gulf Representative will be
available to assist you at the below phone numbers.

For the weekend of October 27th through October 28th the Columbia Gulf
Representative available to assist you will be:

                           Amelia Foster

The following phone numbers can be used to contact Columbia Gulf:

                            713-305-1469
                                 or
                            713-267-4550

Please note that the Columbia Navigator system is unavailable every Sunday from
11:00 p.m. (Eastern) until Monday at 6:00 a.m. (Eastern) for routine system
maintenance.


Good Luck - I hoped I helped -


Start Date: 4/3/01; HourAhead hour: 8;  No ancillary schedules awarded.
Variances detected.
Variances detected in Generation schedule.
Variances detected in SC Trades schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001040308.txt

---- Generation Schedule ----
$$$ Variance found in table tblGEN_SCHEDULE.
     Details: (Hour: 8 / Preferred:   0.00 / Final:   0.00)
  TRANS_TYPE: FINAL
  SC_ID: ARCO
  MKT_TYPE: 2
  TRANS_DATE: 4/3/01
  UNIT_ID: CARBGN_6_UNIT 1

---- SC Trades Schedule ----
$$$ Variance found in table tblInt_Interchange.
     Details: (Hour: 8 / Preferred: -800.00 / Final: -799.97)
  TRANS_TYPE: FINAL
  SC_ID: EPMI
  MKT_TYPE: 2
  TRANS_DATE: 4/3/01
  TRADING_SC: DETM
  PNT_OF_INTRC: NP15
  SCHED_TYPE: ENGY
  PURCH_SALE: 1
  DEAL_NO: 1


Dear Subroto,

Thanks for your message. Here is my information:

Vincent Kaminski
Managing Director - Research
Enron Corp.
1400 Smith Street
Room EB1962
Houston, TX 77002-7361

Phone: (713) 853 3848
 (713) 410 5396 (cell)
Fax  :  (713) 646 2503
E-mail: vkamins@enron.com

Vince

Subroto Roy <subroto.roy@riskmetrics.com> on 03/12/2001 11:28:52 AM
To: "'vkamins@enron.com'" <vkamins@enron.com>
cc:
Subject: Introduction

Dear Vince:

It was a pleasure talking with you today, especially about risk management
and data opportunities. We appreciate your openness with respect to sharing
information about your business activity.

RiskMetrics has grown rapidly in the last one year. We now have 370
institutional clients worldwide for our risk management software and data
products. We encourage you to visit our web site and our 'risk grades' site
for risk measurements for retail clients. We look forward to meet with you
and your colleagues at Enron.

Sincerely,

Subroto Roy

RiskMetrics Inc.

44 Wall Street

New York, NY 10005

T 212-981-7435, F 212-981-7401

http://www.riskmetrics.com/

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

Check the risk of your personal investments at http://www.riskgrades.com/


at least I made $100 for my services

 -----Original Message-----
From: 	Lavorato, John
Sent:	Thursday, October 04, 2001 12:27 PM
To:	Arnold, John
Subject:	RE:

THE GREAT THING IS THAT I CAN DEDUCT THIS FROM MY ARNOLD ACCOUNT.

 -----Original Message-----
From: 	Arnold, John
Sent:	Thursday, October 04, 2001 12:25 PM
To:	Lavorato, John
Subject:

Pull this up and click on hit chart
http://sports.espn.go.com/mlb/players/profile?statsId=3918#

Your tix are sec 154, row 12, seats 1-4, on the aisle of sec 155
http://astros.mlb.com/NASApp/mlb/hou/ballpark/hou_ballpark_seating.jsp


Enjoy!
 - 20020123ERCOT_LOAD.XLS
 - 20020123ERCOT_FLOW.XLS


Hi Donald,

I got a smattering of information that the big E will probably go after us contract folks that attempt to defect.  So, I guess it's second jobs for both of us.  I am sorry I got you into this, buddy.

Cara


Corina,

Are the times the same for the Super Saturday on Nov.4?

Corina Taylor@ENRON
10/25/2000 10:29 AM
To: Scott Neal/HOU/ECT@ECT
cc:
Subject: Candidate Itinerary

Information you requested.  I hope this helps....Corina
---------------------- Forwarded by Corina Taylor/NA/Enron on 10/25/2000
10:28 AM ---------------------------

Shelly Jones@ECT
10/20/2000 03:26 PM
To: Dolores Muzzy/HOU/ECT@ECT, Shawna Johnson/Corp/Enron@ENRON, Donna
Jones/HOU/ECT@ECT, Judy Nyegaard/HOU/ECT@ECT, Mary Alison Bailey/HOU/ECT@ECT,
Alyse Herasimchuk/NA/Enron@Enron, Paul LeBeau/NA/Enron@Enron, Kristin
Gandy/NA/Enron@Enron, Becky Bruce/NA/Enron@ENRON, Beth
Miertschin/HOU/ECT@ECT, Geynille Dillingham/HOU/ECT@ECT, Jacqueline
Coleman/NA/Enron@ENRON, Lexi Elliott/NA/Enron@Enron, Corina
Taylor/NA/Enron@ENRON
cc:

Subject: Candidate Itinerary

Just as an fyi, the attached is the candidate itinerary.  Questions are
coming in - you can use this for a guide of how the weekend will go for them.

Shelly


fyi.  We are hoping to get together at 900 to continue to work on our interim
gameplan.  I don't know the location yet.

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 04/27/2001 06:59
AM ---------------------------

Lloyd Will@ECT
04/26/2001 07:59 PM
To: Tom May/Corp/Enron@Enron, Reagan Rorschach/Enron@EnronXGate, David
Fairley/Enron@EnronXGate, Kay Mann/Corp/Enron@Enron, Jim Homco/HOU/ECT@ECT,
Kayne Coulter/HOU/ECT@ECT, Jeffrey Miller/NA/Enron@Enron
cc:

Subject: Liability Calc

Attached is a spread sheet that can be used to calculate our exposure for the
month of MAY.

Notes:

I do not have Yazoo's load so I used 80% of Clarksdale as a proxy.

I created a energy model that used a 10.5 heat rate and $5.20 gas.

The SEPA energy was not included and no cost for startups.

Looks like worst case we would be exposed for roughly One Million for May.

I can refine the model more if required.


Yours!  Are you lunchable tomorrow?

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


Louise Kitchen has asked to be included and receive copies of our answers.


Jeffrey:
Will you be able to join other VentureWire
subscribers in the Bay area for this month's breakfast
briefing?  We'll be gathering at the San Mateo Marriott
next Tuesday (7/24) to hear Bryant Tong's thoughts on
this month's topic:

The Energy Sector: Urgent Needs, Emerging Opportunities.

It's becoming clear that far-reaching changes in energy
markets, along with urgent production and distribution
needs across the country, have created a wealth of new
opportunities for high-tech investment -- at a time
when deal flow in other sectors has significantly
diminished.

Join us for a presentation by Bryant J. Tong, managing
director of Nth Power Technologies, on the important
trends, key strategies, emerging opportunities, and
potential risks involved in investing in this growing
sector. Nth Power Technologies is a venture capital
firm focused on investment opportunities arising from
the restructuring of the global energy utility
marketplace.

For VentureWire subscribers, we have extended the early
registration discount through this Friday, July 20.
Pay only $99 for the July 24th VentureWire Breakfast:
The Energy Sector: Urgent Needs, Emerging Opportunities.
So register online at http://events.venturewire.com
prior to July 20 and pay only $99.

Hope you'll be able to join us on July 24.

Best,
Brian O'Connell
Publisher,
VentureWire
events@venturewire.com
http://events.venturewire.com


i was informed they are trying to schedule this deal.  so, as soon as you
find out can you pls let me know.

thanks
---------------------- Forwarded by Kerri Thompson/Corp/Enron on 02/28/2001
12:56 PM ---------------------------

Kerri Thompson
02/28/2001 10:50 AM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: tfs

broker has palo verde

533220


Notice No. 01-91
March 14, 2001

TO:
All New York Mercantile Exchange Members

FROM:
Neal Wolkoff, Executive Vice President

RE:
Exchange Selects GlobalView Software Inc. c for enymexsm Customer Interface
Infrastructure
_________________________________________________________________________

The New York Mercantile Exchange, Inc., and GlobalView Software Inc., a
provider of software solutions and integrated information for the commodities
markets, announced today that GlobalView Software will develop the
infrastructure for the enymexsm customer interface.

enymexsm is the Exchange,s e-commerce venture that is intended to become the
premier global exchange for trading and clearing a wide range of standardized
physical commodity contracts, with an initial focus in the energy market.

As the key element of their infrastructure solution, GlobalView Software is
providing MarketViewc, their new web-enabled product which provides an
overall framework for market information integration, delivery, and display.
MarketView will host the enymexsm trading and administration functions and
will interface with and complement the Kiodex Trade EngineTM, the trade
matching engine for the system.

The Exchange and GlobalView Software have further agreed to co-market
GlobalView Software,s software tools and data services as enhancements to a
basic set of tools that will be available to enymexsm participants.  These
products will provide extensive analytical functionality as well as access to
a broad array of commodities market information to support enymexsm customers
in their trading decisions.

enymexsm, which will be launched in the second quarter of 2001, will provide
a neutral internet-based trading and clearing platform for energy and metals
products that were previously limited to over-the-counter markets where
participants are exposed to counterparty credit risk.  The Exchange plans to
use its proven clearing infrastructure to introduce complete counterparty
risk management, and create net margining with traditional Exchange futures
markets by calculating a consolidated clearing position.

GlobalView Software Inc., based in Chicago, Illinois, with offices in
Houston, New York, London, and Singapore, is the industry leader in providing
fully integrated real-time and historical commodities market information
using the internet and PC-based systems.    GlobalView Software Inc.,s
products and services focus on helping customers optimize their use of
information by integrating that information into their enterprise-wide
solutions.  In addition to its signature desktop/network product,
GlobalViewc, and its internet-based product, EnergyViewv, GlobalView Software
Inc. offers internet, intranet and portal solutions, data redistribution
services, customized software development, and integration services, as well
as extensive customer support and maintenance programs. For more information,
visit www.gvsi.com.

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

"http://208.206.41.61/email/email_log.cfm?useremail=sara.shackleton@enron.com&
refdoc=(01-91)"

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.


Nork Plotkin was recently hired by our retail coalition.  Here is his report
from the meeting on SB 27X

Sue Mara
Enron Corp.
Tel: (415) 782-7802
Fax:(415) 782-7854
----- Forwarded by Susan J Mara/NA/Enron on 02/16/2001 10:57 AM -----

	nplotkin@tfglobby.com (Norman Plotkin)
	02/15/2001 05:55 PM

		 To: arm@phaser.com
		 cc:
		 Subject: SB 27x meeting

The first meeting relative to the SB 27x fix to the suspension of da
contained in AB 1x was held at the Capitol today.  Present were ESPs,
consumer groups, business interests, the utlities and representatives from
the Department of Finance, the DWR and Finance's Bond Counsel.  The meeting
was led by Laurence Lingbloom from Senator bowen's office.

Aaron Thomas led off with an articualtion of the AReM/business coalition
proposal. Successive presentations were given by interests who submitted
either correspondence or draft proposals- the details of which can be
discussed in tomorrow's conference call.

Of particular note, and the greatest obstacle facing the future of da, was
the presentation by the attorney representing the Dept. of Finance.  He
expressed concern over broad exemptions from exit fees (ie: all residential
and small commercial customers < 100kw) and broad authority to opt out will
make it extremely difficult to actually sell the bonds.

We need to follow up with Finance, their counsel and DWR to allay their
fears- the sooner the better.  We need to be able to speak their language on
bonding particulars and we need to be able to articulate our position in
terms relavant to their bonding requirements.  We can discuss this further in
the call tomorow.

Finally, Lingbloom said he will circulate a proposal of his own by midweek
next.  The general tenor at the conclusion of the meeting was not good- we
have our work cut out for us.

Until tomorrow.

Norm


Mike:

After you review the Coral Acknowledgement Letter I sent earlier, it would be
really helpful if you would write me a letter on your letterhead saying that
your prepared to sign the letter when you sign the Facility Agreement.
Attached is some suggested language.

Thanks much,

Ben


Start Date: 3/8/01; HourAhead hour: 19;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001030819.txt

---- Energy Import/Export Schedule ----
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 3/8/01
  TIE_POINT: PVERDE_5_DEVERS
  INTERCHG_ID: EPMI_CISO_WATER
  ENGY_TYPE: FIRM


We have received the originally signed copy (via fax) of the Termination
Agreement dated 3/15/01 with respect to EnronOnlineTransactions Nos. 10000172
and 1000173.  Copies will be distributed.


Ned, the table below shows indicative values for the subject transaction.

The assumptions used to derive these values are as follows:
ES owns 3.9 Bcf of gas in storage at a WACOG of $2.30/MMBtu.
The gas will be withdrawn at a rate of 0.487 Bcf/month starting in Jun'02.
In the "Full Hedge" scenario we sell futures to match the withdrawal rate
(487,000/month in Jun'02 through Dec'02 and 468,000 in Jan'03.)
In the "Partial Hedge" scenario we sell futures at an 80% ratio to the Full
Hedge scenario.
In the "w/o Hedge" scenario the mark would get adjusted continually with
market price movement.  Also, the average monthly volatility and expected
high/low value is simply to demonstrate a range of possible outcomes.  As
these months move closer to prompt their volatility could (and probably will)
increase resulting in larger than stated (but currently unknown) swings in
value.  (Ned, as we discussed, I simply adjusted the transaction value by the
volatility %.  This methodology may need more work.)
In the "Options" scenario, a significant amount of the transaction value
would be consumed buying [ATM] calls.  Also, I think selling futures and
buying calls is the same as buying puts (synthetic option) so we should ask,
would we buy puts as part of the "hedge?"

Let me know if you need more information.

Louis


I just entered the CES demand charges for August on the following deals

Deal 343896 - East demand charges of $655,443

Deal 231667 - Market East demand charges of $881,995

Thank you Melba


great.

Where you want to meet at 10?

-----Original Message-----
From: Steffes, James D.
Sent: Thursday, January 31, 2002 9:56 AM
To: Gilbert-smith, Doug
Subject: RE: FW: UBS Sign-Off on ERCOT Docs

Absolutely.  I'll be right by presto on 6 in a week.
--------------------------
Jim Steffes
Enron


Please see attached from Beth Tilney.


GREETINGS:

So, we're all happy that FERC finally made a decision.  Traders tell me the
market has stabilized and people think much of the regulatory uncertainty has
ended.  NOT SO FAST..... I am NOT an attorney -- but here are my current
guesses.

ISSUE:  FERC has created a huge constitutional issue with the state of CA.
The FERC has ordered the ISO to do something differently than what was
specified in the state legislation, AB 1890.  The last time this happened, in
late 1999 (on ISO and PX governance), the state reared its back -- and FERC
caved in.  So let's not be sanguine about what FERC has done here.  Much will
need to be done by Enron and others to bolster FERC.

THE COURTS:  The state could get its back up and decide to fight this.  The
potential is that FERC will get political pressure to "settle", once a
request for rehearing is submitted.  Remember --- this is ALL political.
It's not about logic.  Last time, the state, through the Oversight Board,
submitted a request for rehearing with FERC.  FERC told them to pound sand,
so the EOB then filed in federal court to overturn the order.  This was
"settled" when the state negotiated with FERC behind the scenes and FERC did
a 180. (We have a court case pending on that order.)  If the state decides to
go the rehearing route, I'm not too sure when they could initiate court
action.  They could probably file for an emergency stay, but they tried that
in the last court case and it was rejected.

GOVERNOR:   A little has been trickling out.  Gov. Davis went to town at a
press conference yesterday, talking about gouging generators and sending $6
billion out of state.  He stated his unhappiness with the FERC not providing
refunds.  He says his adminstration will continue its fight to have refunds
ordered. His administration will "participate fully" in the FERC hearing on
Nov 9.  The Governor believes that the state lost control of its transmission
system when it passed 1890.  So, I could conceive of some legislation or a
federal push to "give it back."  I don't think that would be ultimately
successful, but it would likely create some wild times.

FEDERAL:  The press reported that U.S. Sen Feinstein will introduce a measure
in the next few days to give FERC retroactive refund authority.

STATE LEGISLATURE:     State Sen Bowen has said she plans to hold a hearing
in mid-month and will draft a "legislative response to the FERC proposal."
Assemblyman Rod Wright met with about 30 people today (suppliers and
utilities) to explore some issues.  He wants to take leadership of the issue
and is supported by the Speaker of the House.  He plans legislative action.

CONSUMER ADVOCATES:  Press reports state that several consumer organizations
are considering court action to get the refunds.

TIMING:  Soon and  sooner.  Hearings can happen any time.  The legislature
returns in January and we can expect emergency legislation and a quick pace.
Hold on to your hats!


Dictated letter from Ken Lay

Dear John:

I enjoyed your recent e-mail.  I also appreciate your kind comments
concerning our broadband activity.  The deal with Blockbuster has been a
great deal of fun and is opening up all kinds of additional opportunities.

I enjoyed looking through the agenda for your meeting in Sweden.  It looks
quite informative and interesting.  Sweden is also an excellent place for a
summer conference.

The young man you refer to in your letter should send his resume to Celeste
Roberts at (713) 853-0555.  If he would also copy me on the letter to
Celeste, I would be happy to follow up and make sure it is carefully
considered.

I'm delighted that your life appears to be going very well at the current
time.  I hope our paths will again cross in Aspen or elsewhere in the not too
distant future.

Warm regards,

Ken


I will be late on day one.
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)


Start Date: 10/4/01; HourAhead hour: 19;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2001100419.txt

Error retrieving HourAhead price data - process continuing...


Hot Off the Cyberpress!
      A new GRANT'S publication is now available at www.grantspub.com.
                Here are highlights of the latest issue:

RISK IN A CHEAP STOCK

    "I'll bet if I told you 32 months ago, when we announced the goal [to
double earnings per share in five years], that in the fourth quarter of 2001
Fannie Mae would report earnings per share of $1.40, up 59% from the first
quarter of 1999, you would have guessed that our stock would be up by at least
that amount." So said Tim Howard, CFO of Fannie Mae, on the fourth-quarter
conference call Monday.
    He went on in that vein: "I certainly would have. But it's not. At the
close of business on Friday, the stock was up just 15%, about a quarter of the
earnings growth. But if there is surprise or disappointment in that result,
there also is promise. Over the past decade, our stock price has grown faster
than our earnings per share. It just hasn't done so evenly. To the contrary,
there frequently have been periods when, for whatever reason, the price of
Fannie Mae stock has become uncoupled from its fundamentals. This appears to
be one of those times. Neither our performance nor our prospects seem to
justify our current valuation."
    By the sound of it, Howard was singing our song. . .

STOP THE PRESSES

    The Wall Street Journal has capitalized the phrase "New Economy" in its
news columns since at least Aug. 31, 1999, but it printed it small Tuesday. On
page one, column six, it referred to "the excesses of the new economy."
One of these excesses, so we proposed in the September 14 issue of Grant's,
was the Journal's use of capital letters for an economy that didn't really
exist (a dynamic economy is forever new and forever aging). And we proposed
that a return to lowercase "n" and "e" would "mark another milestone on the
road to investment sanity."
    Regrettably, The Wall Street Journal Indicator did not flash an
unambiguous "buy" signal Tuesday. On page A4, the jump of the Enron story
referred for a second time to "New Economy." This time it was in capitals. . .
.

MONTH OF TUESDAYS

    The bear market and an unplanned recession have discredited the nostrums
of the boom. However, faith in a homegrown American productivity miracle is
largely intact, recent downward revisions in the data notwithstanding. On
January 7, The Wall Street Journal reported new findings by a pair of
authorities in the field, Dale Jorgenson of Harvard University and Kevin
Stiroh of the Federal Reserve Bank of New York: "[T]he likely scenario for
productivity growth over the next decade remains a robust 2.24% annually,"
concludes their analysis. "That's just a tad lower than the average 2.36% that
helped the economy surge from 1995 to 2000."
    . . .Following is a new chapter in the Grant's revisionist history of the
millennial productivity bulge. . . .

RESTING PLACE

    "Worst case" may, for once, actually describe a commercial experience. The
market expects that revenue per available room (RevPAR) for the U.S. lodging
industry fell by 6.5% in 2001. In 1991, the latest prior recession year
without a terrorist attack, RevPAR declined by only 2.6%. . . .

RISK IN A CHEAP STOCK

    By refusing to surrender to thrift, the American consumer may be helping
to perpetuate the kind of economy in which the funds rate hovers below 2% for
a long time. . . .

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

PLEASE NOTE:
Grant's Interest Rate Observer
is taking its winter vacation
and will resume publication
with the issue dated January 18.

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

________________________________________

This issue and more can be found at
http://www.grantspub.com.

Grant's Financial Publishing Inc. is the
publisher of Grant's Interest Rate Observer,
copyright 2001, all rights reserved.


The attached document is from Richard Sanders:


Attached please find PG&E's prepared direct testimony and associated
documents in the above referenced proceeding.

Sincerely,

Jenny Gluzgold
PG&E

 <<biren.doc>>  <<SoCalGas_Cover.doc>>   <<SoCalGas_HallRC.doc>>
<<SQRCH-SoCalOII.doc>>  <<Proofofservice3272000.doc>>

 - biren.doc
 - SoCalGas_Cover.doc
 - SoCalGas_HallRC.doc
 - SQRCH-SoCalOII.doc
 - Proofofservice3272000.doc


I sent this yesterday before 5 to find out what you were planning to do re
Michael, the game, etc.

"Neil Mann" <nmann@erac.com> on 04/24/2001 08:19:11 AM
Please respond to <nmann@erac.com>
To: <Kay.Mann@enron.com>
cc:

Subject: RE:

the plan for what?

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Monday, April 23, 2001 4:49 PM
To: nmann@erac.com
Subject:

so what's the plan?


----- Forwarded by Richard B Sanders/HOU/ECT on 09/17/2000 09:35 AM -----

	Peter Keohane
	09/14/2000 01:01 PM

		 To: Richard B Sanders/HOU/ECT@ECT
		 cc: Mark E Haedicke/HOU/ECT@ECT
		 Subject: Project Stanley - Blakes Account

Got your voice mail.  My thoughts are the following:

1.  I always insist that there is a breakdown of accounts by lawyer name,
hourly rate and task description.  If it is not in this account I do not know
why and I think it is appropriate that you ask for it and receive it.

2.  I would have expected the account to be large and that there are a number
of people involved.  I lost involvement (at the direction of Delainey and
Milnthorp) early in this project after the initial crisis management stage,
but my observations of the number of people and resources involved are the
following:

At the outset we needed a number of people to manage the search and related
technical and legal issues in the short term.  Over the longer term, staffing
requirements ought to be greatly reduced and it seems that since the original
crisis management stage the file has been over staffed.  At the same time, in
fairness, I believe Blakes feels that the are responding to the requirements
of Enron to throw al ot of resources at the project.  If it has not already
happened, I believe you should speak to Dan Fournier to confirm our
expectations and to discuss rationalizing resources.  As I say, I was asked
to step back from this project, but I am happy to have this discussion with
Dan Fournier if you prefer.

Also, I did not receive a copy of the account, but it seems to me that at our
direction Blakes hired a number of economic and political consultants which
will also be greatly expensive and which will as I understand be billed to
Blakes and included in Blakes accounts as disbursements to maintain
privilege.  If it has not already happened, I also believe the use of the
consultants also needs to be rationalized.

I also expect that VE will have a not insignificant account.

In summary, since the initial stage I have had limited involvement, but I am
not surprised (and would have expected) that the account is large and I
expect that larger accounts are coming once consultant accounts start to roll
in.  I believe that detailed account breakdowns are appropriate but also that
the use of all consultants including Blakes needs to be rationalized.  I also
believe that Blakes has done an excellent job and that a lot was be asked of
them in the early stages and therefore they were throwing a lot of resources
to the project.

Lastly, in anticipation that this would be expensive and that there would be
a number of people involved, Rob Milnthorp initially spoke to John Lavorato
about setting up a separate Houston RC for the project which John agreed to.
The RC number I gave you may have been a Canadian RC and I need to confirm
with accounting.  In any event, I will be sending a subsequent e-mail to all
internal groups to make sure that all expenses, internal and external, are
billed to that separate RC.

Peter.

Please let me know if I can be of any help.


Mark,
This is a brief overview of what the tax group is trying to accomplish overall but does not really explain why assigning the derivative positions from ENA or entering into new weather derivative positions in the Chiricahua entities allows Enron to save 500mm in taxes.  Stephen told me on Friday he would speak with you today to answer your question on how aggressive the tax position is.
Regards,
Brent

 -----Original Message-----
From: 	Wells, Bret
Sent:	Wednesday, November 21, 2001 5:01 PM
To:	'rrabalais@velaw.com'; 'jblissard@velaw.com'; 'jlynch@velaw.com'
Cc:	Maxey, Dave; Ginty, James; Douglas, Stephen H.; Delacey, Charles; Hendry, Brent
Subject:	Enron: Year-End Unwind of Project Valhalla and Project NOLly

Robert/Judy/John,

We would like to discuss your thoughts on the attached timeline and questions contained therein on Monday, November 26, at 9:30 a.m.  We will originate the call by calling Robert Rabalais' office at this time.  We have highlighted in bold the questions that we consider the most relevant, but please consider whether there are other questions that are also implied by the attached timeline.  In particular, we are especially interested in the steps described on December 10th.  It is imperative that we have these issues resolved by close of business on Monday.

Thank you in advance for your assistance with respect to this matter, and we look forward to speaking with you on Monday.

Regards,

Jim Ginty & Bret Wells


ARIES

                   HOROSCOPE:   Weekly

                   For May 2000: Reassess your goals and
                   friendships. Things have changed. Are you
                   satisfied with your job, relationships, and
                   immediate future? May brings things to light
                   that have been buried or disguised. Take a
                   cool calm steady look at what surfaces. . . and
                   decide if a change in direction is warranted.
                   It's clear that your work scenario needs
                   refurbishing and your daily schedule cries out
                   for major rehab. But first and foremost, you'll
                   get your second wind by dropping tension
                   and frustration mid month, increasing the
                   probability for better relations with friends,
                   coworkers, and relatives. Try to establish
                   healthy, positive change no later than the Full
                   Moon. Take steps to insure your financial and
                   business future on or before May 28.


Georganne, this agreement will be executed Monday, dated as of Fri, Sept 28. I am out of the office on Monday, but by this e-mail I am asking Gerald Nemec to forward to you a copy of the executed agreement.  Will you please oversee the removal of the transportation positions from the MTM books as of Sept 30 (you mentioned Jeff Gosset?). The 3Q removal is important as Northern Border will be recognizing income as a result of the agreement.  We have already discussed (casually at last Monday's mtg) our accounting. We will probably need to discuss the Purchase Price Adjustment due ENA, as it has been negotiated and is being netted against the amounts due to Northern for the transportation capacity (we are the net payor). Generally speaking, AA may notice, if so, let me know, although clearly the acctg risks in this deal belong to Northern.

-----Original Message-----
From: Nemec, Gerald
Sent: Fri 9/28/2001 5:40 PM
To: Whitt, Mark
Cc: Sherman, Cris
Subject: FW: Final Settlement Statement and Amendment to Master Services Agreement

For your review.  Let's talk early Monday.

 -----Original Message-----
From:   Daniel, Shonnie
Sent:   Friday, September 28, 2001 5:27 PM
To:     Nemec, Gerald; Sherman, Cris; Wiederholt, Patricia; Peters, Jerry
Cc:     Baldridge, Don
Subject:        Final Settlement Statement and Amendment to Master Services Agreement

At the request of Don Baldridge I am forwarding a draft Final Settlement Statement and an Amendment to the Master Services Agreement (clean and red lined against the version previously provided Enron North America Corp.).

Shonnie Daniel <<Final Closing Statement2.doc>> <<Master Services First Amendment ver 4.doc>> <<Master Services First Amendment ver 4red.doc>>

Crestone Energy Ventures, L.L.C.
1400 16th Street, Suite 310
Denver, CO 80202
Phone (720) 946-3667
Fax (720) 946-3710
shonnie.daniel@enron.com

PRIVILEGED & CONFIDENTIAL COMMUNICATION: DO NOT read, copy or  disseminate this communication unless you are the intended addressee.  This  communication may contain information that, may be subject to the attorney-client privilege, be attorney work product,or be otherwise privileged, confidential and  exempt from disclosure under applicable law.  If you are not  the intended recipient, you are on notice that any unauthorized  disclosure, copying, distribution, or taking of any action in reliance on the  contents of the electronically transmitted materials is prohibited. If you  have received this communication in error, please call us immediately at 866-946-3601and ask to speak to the sender of the  communication.  Also, please notify immediately via e-mail the sender  that you have received the communication in error.


Can we sit down at 3:00?

andrew

To: Gerald Nemec/HOU/ECT@ECT, Andrew Miles/NA/Enron@Enron
cc:
Subject: ECS / EES agreements

I would like to discuss the draft agreements and need some perspective for
how they fit into the overall big picture (e.g., the gas agreement doesn't
explicitly discuss the 2 month lag or nomination issues which may be ok if
this is covered elsewhere).

When would be a good time?  I have a 1:30 - 2/2:30 meeting but am free
otherwise.


Rebecca McDonald's APEC speech was a great success, with wide interest from
the audience.  Among others, DOE and EIA officials, the Korean Minister of
MOCIE, the Japanese Vice Minister of MITI and the Colombian Minister of Mines
and Energy all made special requests for copies of her presentation.  We are
making arrangements to distribute it to the broader audience today.  The
government and regulatory team here is already leveraging the enthusiasm for
the speech in their contacts.  Attached is the final copy of the
presentation, which reflects last minute changes.

John


I have been out of town for the last few days. I understand that Sara is out
for the rest of this week.

After reviewing, I believe the Short Position Assignment Agreement form
(Goldman Sachs) you sent last week needs some slight revision (including
retitling it Assignment and Assumption Agreement), and will need to
appropriately refer to the current Corporate Account Agreement between ECT
Investments, Inc. and GS,  and the one between ENA and GS (is there a
Corporate Account Agreement between GS and ENA?). It seems to me that the
document should apply to both short and long positions in the brokerage
account. Sheila, do you agree?

Once we revise the GS form, we could create a similar draft version for
Morgan Stanley and one for Bear Stearns. Is this an acceptable way forward so
we can get you where you want to go?

Finally, I had understood that Sara, after checking with the credit desk, was
going to look into the issue of what internal documentation, if any, would be
appropriate for transferring the OTC derivative positions. We will need her
input on this when she gets back early next week.

Alan

	Sheila Glover
	10/10/2000 04:09 PM

		 To: Alan Aronowitz/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT
		 cc: Terri Harlan/HOU/ECT@ECT
		 Subject: Assumption and Assignment

Alan and Sara,
We have sent you the document from Goldman Sachs and are following up with
Morgan Stanley to get their agreement.
What else can we do to facilitate?
Thanks, Sheila

---------------------- Forwarded by Sheila Glover/HOU/ECT on 10/10/2000 03:59
PM ---------------------------

	From:  Terri Harlan                           10/10/2000 03:50 PM

To: Sara Shackleton/HOU/ECT@ECT, Alan Aronowitz/HOU/ECT@ECT
cc: Sheila Glover/HOU/ECT@ECT
Subject: Assumption and Assignment

Do we have any resolution on this issue yet?

Terri

---------------------- Forwarded by Terri Harlan/HOU/ECT on 10/10/2000 03:43
PM ---------------------------

	From:  Terri Harlan                           09/27/2000 01:32 PM

To: Sara Shackleton/HOU/ECT@ECT, Alan Aronowitz/HOU/ECT@ECT
cc:
Subject: Assumption and Assignment

I received this letter form Goldman Sachs this morning.  According to them
short positions are the only ones that require this letter.  Can we
use/modify this letter and submit it to Morgan Stanley and Bear stearns, or
do we need to get something from each of them?  Please let me know.

Thanks,

Terri
3-9899

---------------------- Forwarded by Terri Harlan/HOU/ECT on 09/27/2000 01:25
PM ---------------------------

"Sibeud, Eugenie B" <eugenie.sibeud@gs.com> on 09/27/2000 12:09:50 PM
To: "'Tharlan@enron.com'" <Tharlan@enron.com>
cc:
Subject:

Apologies for the delay.  My e-mail went totally dead last night, and has
just now come back.  (Apparently I have sent to many large document files).

Attached is the assignment agreement that we discussed.  Please feel free to
call me if you have any questions.  I can be reached at (212) 902-1930.

Kind regards,

Eugenie Sibeud

 <<Enron Assignment.doc>>

 - Enron Assignment.doc


Joe:

This e-mail will confirm the site visit by your company at Gleason and
Lincoln.  The relevant information is as follows:

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 Gleason and
Lincoln, handling all questions and responses.  Should you have any due
diligence questions or require copies of any oversized documents, please
contact me at 713.853.7998.


I'd like to go to the game, but I'm scheduled to be here on Sunday afternoon
to finish a project that goes live on Tuesday morning. I don't know if I
want to chance it with a deadline. I'd have to leave right after the game
and leave crowley early the next morning. Also, a shitload of construction
went up on i-10 this weekend b/w Lake Charles and Crowley. traffic would be
bad again. fuch it, it's on the deuce anyway.

-----Original Message-----
From: Matthew.Lenhart@enron.com [mailto:Matthew.Lenhart@enron.com]
Sent: Monday, October 22, 2001 9:54 AM
To: MMMarcantel@equiva.com
Subject: RE:

i am definately staying in town.  i don't feel like battling that traffic.

    -----Original Message-----
   From:   "Marcantel MM (Mitch)" <MMMarcantel@equiva.com>@ENRON
   Sent:   Monday, October 22, 2001 9:49 AM
   To:     Lenhart, Matthew
   Subject:

   I sold out on Saturday. I got called by work right after I talk to you
   and I
   didn't get off my cell until after halftime. I missed the entire first
   half
   to of the game. Do you know if Boone or anyone taped it? Did you get a
   stripper to go back to your place with you?

   Good thing no one rode with me. I had to stay in C-town last night until
   8:00p.

   Also, I may be fucked for next weekend too. Let me know if you are
   staying
   here. After next weekend, I'm coasting for work until next year.

   Thanks,

   Mitch Marcantel

   SAP Application Services
    1100 Louisiana St. 808B
    Houston, TX 77002
    Phone: 713.277.8511 Fax: 713.277.8551
    Pager: 800-759-8888 pin1528390
               1528390@skytel.com

**********************************************************************
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.
**********************************************************************


Michael Slade forwarded me your advice  with respect to the Non-Disclosure
Agreement with i2 Technologies.  We appreciate your help on this.  Per my
conversation with Mark Taylor, this NDA will probably be the first of many
coming from the EnronCredit.com business group located here in Houston and
pursuing US based customers.  We wanted to confirm with you that on a going
forward basis that are no tax problems with these EnronCredit.com employees
executing NDA's as well as other contracts here in Houston.  Thanks for your
help with this.


John, completely agree with your view - David, I would have the matrix, with
all of the ENA statistics and names, ready for distribution on Friday to the
key managers to try and illicit a response from the low participation folks.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 09/27/2000
12:16 PM ---------------------------

John J Lavorato@ENRON
09/27/2000 09:08 AM
To: David W Delainey/HOU/ECT@ECT, David Oxley/HOU/ECT@ECT
cc:
Subject: Status of Completed Performance Reviews

I hope the data on these performance reviews is wrong.  I think we need 100%
of reviews done.  Do you agree.
---------------------- Forwarded by John J Lavorato/Corp/Enron on 09/27/2000
09:02 AM ---------------------------

	From:  Sheila Knudsen                           09/14/2000 09:20 PM

To: Mark Frevert/NA/Enron@Enron, David W Delainey/HOU/ECT@ECT, John J
Lavorato/Corp/Enron@Enron
cc: David Oxley/HOU/ECT@ECT

Subject: Status of Completed Performance Reviews

Attached, for your information is a matrix reflecting the status of completed
reviews from the mid-year 2000 process.  This is broken down by ENA
organization units, as they were structured at mid-year, prior to the
creation of EGM and EIM.

I will provide you with a weekly update on the status.

Please call me at X36628 should you have any questions.


Congratulations Jeff. It is so good to see good things happen to and for good
people. Boy, this is going to drive Craig Roberts nuts.

Again congratulations.

Richard


California -

I99-07-003  GIR--SoCal Unbundling.  On Oct. 11, 2001, Com. Bilas of the CPUC issued a Revised Proposed Decision in this proceeding.  It adopts the Comprehensive Settlement which Transwestern supported, with certain modifications.  Transwestern filed comments on Friday, October 19th supporting the PD with the exception of the modification by the PD to place a price cap on the secondary market.

A01-10-___  PG&E Gas Accord II.  On October 9th, PG&E filed its application proposing a market structure, rates and terms and conditions of service for their gas transmission and storage systems beginning January 1, 2003.  Given market uncertainties and PG&E's filed plan of reorganization, PG&E requested that the Commission authorize an extension of the existing market structure and rates for a two year period through December 31, 2004.  The filing has been distributed for review.

Arizona -

Legislature.  Governor Hall has called a Second Special Session of the 45th Legislature to begin Novermber 13, 2001 to produce a balanced state budget for fiscal years 2002-2003.

Schedule next week:

Mon-Tues.		Houston
Wed.-Fri.		Omaha


I've heard that the turbines are supposed to be moved out of WestLB today.
The contract with GE is not quite finished, although it is close.

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 11/27/2000 08:54
AM ---------------------------

	Enron Global Finance

	From:  Catherine Clark @ ECT                           11/27/2000 08:44 AM

To: Sheila Tweed/HOU/ECT@ECT, Kay Mann/Corp/Enron@Enron, Ben
Jacoby/HOU/ECT@ECT, Eric Boyt/Corp/Enron@Enron
cc:

Subject: Austin Project Purchase Option

---------------------- Forwarded by Catherine Clark/HOU/ECT on 11/27/2000
08:45 AM ---------------------------

"Taylor, Rob" <robtaylor@akllp.com> on 11/24/2000 12:55:59 PM
To: <toxley@winston.com>, <roseann.engeldorf@enron.com>,
<catherine.clark@enron.com>
cc:
Subject: Austin Project Purchase Option

Attached is a revised draft of the Purchase Option Assignment and
Assumption Agreement for the LM6000s to be used in the Austin Project.
The attached reflects the comments of Winston & Strawn.  Also attached
is an execution copy of the agreement.

Serial numbers and other identifying information should be inserted on
Schedule 1 to the agreement prior to execution.

Please call me if you have any questions or comments.

Regards,

Rob Taylor
Andrews & Kurth L.L.P.
600 Travis Street
Suite 4200
Houston, Texas  77002

Tel: (713) 220-4436
Fax: (713) 238-7273
e-mail: robtaylor@andrews-kurth.com

This e-mail is privileged and confidential and is intended only for the
recipient(s) named above.  If you are not the intended recipient, please
(i) do not read, copy, use or disclose the contents hereof to others
(any of the foregoing being strictly prohibited), (ii) notify the sender
immediately of your receipt hereof, and (iii) delete this e-mail and all
copies of it.
 <<Purchase Option Assignment/Assumption.DOC>>  <<PO (Austin) -
Compare.DOC>>
 - Assumption.DOC
 - PO (Austin) - Compare.DOC


Okay, we've finally got it.  This meeting (in regards to the EOC charge for Claude Straub) is set up for this Friday, 7/20 from 2:00-3:00 p.m. in EB3824.

I have left a message with John Nowlan's assistant (Helen Taylor) to let us know when would be a good time for John to be contacted in London on either Monday or Tuesday.

Thanks,
Angie O'Brian
36547


Tom --

There does appear to be some intelligence gathering going on at the CPUC.  You should speak with legal about the inquiry.  Clearly the CPUC has a right to ask anything they want - it is my understanding is that our customers have a confidentiality clause in their contract that prohibits them from responding.

Jim

 -----Original Message-----
From: 	"Riley, Tom" <Tom.Riley@enron.com>@ENRON [mailto:IMCEANOTES-+22Riley+2C+20Tom+22+20+3CTom+2ERiley+40enron+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Friday, August 31, 2001 5:55 PM
To:	Steffes, James D.; Mara, Susan; Dasovich, Jeff
Cc:	Evans,Mark; Wu,Andrew; Hurt,Robert; Frazier,Lamar; Huddleson,Diann
Subject:	FW: Enron DASRs filed since July 1, 2001

Jim, et al,

Interesting e-mail from UC.  Apparently the PUC is implying to UC that DASRs
submitted after July 1 need to be associated with a contract executed prior
to July 1.  Is this consistent with our intell?  Can they make these
inquiries?  Please advise.

Tom

> -----Original Message-----
> From:	Maric Munn <Maric.munn@ucop.edu>@ENRON@EES
> Sent:	Wednesday, August 29, 2001 9:38 PM
> To:	TRiley@enron.com; dhuddles@enron.com
> Cc:	mgutheinz@calstate.edu; KTilton <ktilton@gralegal.com>
> Subject:	Fwd: Enron DASRs filed since July 1, 2001
>
> Tom, Diann -
>
> Do you have data on number of DASRs that have been submitted for UC/CSU
> accounts post July 1, 2001.  DO you also have a breakdown of number of
> DASRs that were for accounts that were part of the original group of
> accounts that were un-DASRd and re-DASRd vs. the number of DASRs for the
> accounts that were being DASR'd for the first time?  Read below -
> enquiring
> minds at the CPUC want to know.
>
> Thanks
>
> Maric
>
>
> >X-Sent: 30 Aug 2001 00:13:56 GMT
> >Date: Wed, 29 Aug 2001 17:03:09 -0700
> >From: KTilton <ktilton@gralegal.com>
> >X-Mailer: Mozilla 4.51 [en] (Win98; I)
> >X-Accept-Language: en,pdf
> >To: Maric Munn <Maric.Munn@ucop.edu>, Mark Gutheinz
> <mgutheinz@calstate.edu>
> >CC: Irene Moosen <imoosen@gralegal.com>
> >Subject: Enron DASRs filed since July 1, 2001
> >
> >Maric, Mark:
> >
> >Our office has received telephone calls from CPUC Energy Division staff
> >regarding the Enron DASRs filed since July 1, 2001, and specifically
> >whether recent DASRs filed are under an existing contract - that was
> >executed prior to July 1 (as opposed to new Direct access contracts,
> >post July 1).  The Energy Division staff is being asked by their
> >superiors to determine how many of the post-July 1 DASRs (for all
> >customers, not just UC/CSU) were under an existing contract versus a
> >new, post-July 1 contract.  As you know, this relates to the revised
> >draft decision which suspends direct access effective July 1.
> >
> >We have explained that the new Enron DASRs for the campuses are under an
> >existing contract - the original contract that was executed in 1998. But
> >one energy staff member has requested a specific number of post-July 1
> >Enron DASRs filed for the campuses - as they were returned to direct
> >access service under the contract.  Therefore, I am making this request
> >from you.
> >
> >Can you provide me with the following information:
> >     1.  How many DASRs have been filed since July 1, 2001
> >     2.  Of those, how many were inappropriately removed from direct
> >access back in February and how many were eligible, but never placed on
> >direct access service due to Enron mistake?
> >I will use discretion in sharing the precise breakdown information on
> >the post-July 1 DASRs, but it is important that we have a clear
> >understanding of the precise numbers.
> >
> >Please let me know if you have any questions on this matter.  I realize
> >that you are both busy, and I appreciate your attention to this matter.
> >
> >thanks
> >
> >Kelly
>
>


If you would put a note in the comment section in deal entry, that would be
great.

Thanks!

---------------------- Forwarded by Sharen Cason/HOU/ECT on 01/24/2001 02:02
PM ---------------------------
   Kate Symes                01/24/2001 01:49 PM

To: Sharen Cason/HOU/ECT@ECT
cc:
Subject: Re: #500966

Sorry for the delay - it's taken me a while to track down the answer to this,
because Chris Foster, the trader on this deal, is still unclear as to the
answer. Basically, the deal keeps getting cut by the Cal-ISO, which is why
Carla goes in and changes the volumes sometimes. But Chris thinks that in the
end we might not be cutting the deal financially, just physically on a
day-by-day basis. Given that, we only need the first, original confirm sent
out - if revised confirms have been sent, let's go ahead and send them the
original one and leave it at that.

Chris Foster said he would get back with me this afternoon - he's meeting
with Real Time and Schedulers right now to sort out this issue.  I apologize
that this wasn't more clear before. Should I add a note in the comments
section of this deal to clarify? Or should I just check the deal back to "no
confirm"? Let me know.

Thanks,
Kate

	From:  Sharen Cason                           01/24/2001 08:14 AM

To: Kate Symes/PDX/ECT@ECT
cc:

Subject: #500966

This is the deal that was originally in as not to be confirmed and was
changed to be confirmed.  Well, I have confirmed twice because it keeps going
into pending status.   The auditor indictes that carla is going into the deal
and changing something that causes it to go into pending.  Can you check into
this and find out what she is changing, if we need to keep sending revised
confirmations, wha'sssss uuup with this deal?

Thanks!


You are working too hard.


Ben

This sure sounds like a deal Len Gunderson was looking at early this year and
a large chemical facility. The capacity for the project did not match what
equipment it was based on - any more details so I can see if we have any data
from that earlier look?

Bruce

Benjamin Rogers@ECT
05/04/2000 11:24 AM
To: Bruce Golden/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:

Subject: Re: MHI 501G

We are still looking for capital costs for a 730 MW plant in Texas, which
comprises of 4 FA's and 2 STG's.  We are currently using $450 MM for a total
project cost number, which comes out to be $616/Kw.
Thanks
Ben


I think this is a good summary of where we are:

1.  QF Status:  Mirant is willing to provide a legal opinion that it meets the QF status under the PPA if it is required to close.

2.  A market report should be issued by Mirant today as to the reasons they have only been able to secure $300 million instead of $500 million in insurance.  Hopefully this will satisfy the lenders.

3.  Mirant's proposal went out today on how to protect the lenders if the SHO is extinguished.

4.  Mirant and GE have agreed to a closing checklist and fee coverage.

Things left to do:

1Finalize all documents

2.  Receive underwriter approval on the resolution of all insurance claims.

3.Agree upon mirror guarantees with Enron and Mission relating to the Union Carbide guarantees.

Jeff Donahue informs me that CFSB feels secure that this deal will close on December 15 but not before.  The reason is that there are PPA bids that need to go out by that date.

Let's keep daily status reports coming. If I have misrepresented anything in the summary, please let me know.


May 17, 2000

Via Internet

MEMORANDUM

TO: Interested Clients

FROM: John & Hengerer

RE: Commission Meeting -- May 17, 2000

At today's meeting, the Commissioners approved the consent agenda and then
discussed the following items.

 ELECTRIC MATTERS
Alliance Companies, et al., Docket Nos. ER99-3144
In December 1999, the Commission issued an order conditionally authorizing
the formation of the Alliance RTO.  At today's meeting, the Commissioners
denied (by a margin of 3 to 1, Commissioner Hebert dissenting) rehearing of
the December 1999 order.  The Commissioners also unanimously rejected
(Commissioner Massey concurring) Alliance's compliance filing.

In its original filing, Alliance proposed allowing each of its 5 active
owners to retain up to a 5 percent ownership interest in the RTO (up to 25
percent total ownership by active owners).  The December 1999 order rejected
this proposal as contrary to the independence principle outlined in Order No.
2000, which states that active ownership should be limited to a total of 15
percent unless special circumstances are shown.  Rejecting requests for
rehearing, the majority concluded that Alliance had failed to justify active
member ownership in excess of 15 percent.  Dissenting, Commissioner Hebert
argued that (i) the 15 percent benchmark is arbitrary and should not be
viewed as creating a binding legal requirement. and (ii) limiting active
ownership will provide a disincentive for other utilities to join the RTO.

3

The Commissioners also rejected Alliance's compliance filing submitted to
satisfy the terms of the December 1999 order.  In addition to failing to
correct the active ownership issue outlined above, the Commissioners faulted
Alliance for not eliminating pancaked rates and for not addressing issues
associated with the RTO's scope and configuration.  Commissioner Massey
indicated that he would write a concurrence to stress that Aseams@ agreements
do not negate the need to review the RTO's scope and configuration to ensure
that it is properly designed and sized.

Southwest Power Pool, Docket No. EL00-39
The Commissioners unanimously rejected, as failing to meet the requirements
of Order No. 2000, the Southwest Power Pool's (SPP) RTO proposal.
Commissioner Massey, who moved the item to the discussion agenda, cited the
following shortcomings in SPP's proposal: (i) operational control of
transmission facilities was not turned over to the RTO; (ii) the RTO's
proposed open-access transmission tariff did not comply with Order No. 2000;
(iii) no real-time balancing market had been proposed; (iv) lingering
concerns with the RTO's governance structure; and (v) the RTO's proposed
scope and configuration are inadequate.  Commissioner Massey encouraged the
SPP to join other entities seeking to form an RTO, or consider merging with
the Midwest ISO.

Notice of Interim Procedures to Support Reliability and Request for Comments,
Docket No. EL00-75
The Commissioners unanimously approved short-term procedures designed to
address Summer 2000 reliability concerns.  The approved measures provide for
(i) streamlining FERC procedures to promote on-site, distributed generation,
(ii) waiving prior-notice requirements for load-reduction agreements, (iii)
improving demand-side price signals, (iv) requiring more extensive OASIS
posting of available transmission capacity; and (v) making Commission Staff
more available to the industry to address reliability concerns.  Comments on
the proposed short-term measures are due by June 2, 2000.

Additionally, agreeing that the short-term procedures are very minimal in
nature, the Commissioners requested comments on long-term reliability
issues.  Comments are due by June 30, 2000.
Finally, Commissioner Hebert indicated that he would write a separate
concurrence to express his belief that competitive forces are the answer to
reliability concerns and to criticize the Commission for not eliminating
artificial price caps and promoting competitive rates.  Commissioner Hebert's
accusation that the Commission was more concerned with politics than good
policy touched off a heated debate, with Chairman Hoecker reciting FERC
successes and Commissioner Massey scoffing at Commissioner Hebert's
suggestion that price caps were to blame for generation shortages.

 GAS MATTERS
Regulation of Short-Term Natural Gas Transportation Services, Regulation of
Interstate Natural Gas Transportation Services, Docket Nos. RM98-10, RM98-12
The Commissioners unanimously addressed and generally denied requests for
rehearing of Order No. 637.  Finding that Order No. 637 strikes a good
balance between competing interests, the Commissioners indicated that their
order would, with several exceptions, uphold the mandates of the order.  The
Commissioners expressly noted that requests for rehearing of
right-of-first-refusal (ROFR) roll-up issues would be denied. Order No. 637
states that, if a pipeline is fully subscribed, a party wishing to exercise a
ROFR will be required to match competing bids, even if a competing bid
exceeds the maximum rate for the capacity.

Revisions and clarifications of Order No. 637 approved by the Commissioners
at today's meeting include:
(1) shippers with multi-year contracts at max rates for seasonal service will
retain their ROFR;
(2) pipelines will be required to post available capacity within one hour of
each nomination cycle, rather than within one day as directed by Order 637;
(3) short-term capacity release transactions must be posted within one hour
of the first nomination under the contract, rather than upon the execution of
the contract as stated in Order No. 637; and
(4) Order No. 637's OFO penalty and imbalance provisions will be clarified in
the Commission order.

Although comments at today's meeting were brief, we anticipate a lengthy
order addressing the numerous issues raised by parties in their requests for
rehearing.


-----Original Message-----
From: 	Jester, Larry
Sent:	Tuesday, October 16, 2001 10:57 AM
To:	Dean, Clint
Subject:	RE: industrial load locations

 -----Original Message-----
From: 	Dean, Clint
Sent:	Tuesday, October 09, 2001 2:57 PM
To:	Curry, Mike; Jester, Larry
Subject:	industrial load locations

Gentlemen,
I am in the process of putting together an ERCOT industrial load database.  It will be something that in the future will help us value load in Texas.  As you know, one of the factors in determining price is location.  Could you please provide me with the locations of these customers so that I can correctly assign a CSC zone to them.

Airproducts
Alcoa
BOC gases
Corrugated Services [Larry Jester]  	S, SA
Crown [Larry Jester]  	Reliant
Huntsman [Larry Jester]  	Odessa
Kinder Morgan [Larry Jester]  W, Synder?
Koch [Larry Jester]  	S, Corpus Christi
Praxair
TotalFina [Larry Jester]    Baytown, Crosby, LaPorte, Seabrook

I know this is a fairly generic list, but it is straight from the ERCOT region list that structure keeps, so hopefully it will be very familiar to both of you.

Thanks,
Clint


I have my CA expert (Kathleen Carnahan) is working on it now.

Kay

From: Gregg Penman on 04/20/2001 09:48 AM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: RE: Confidentiaility Agreements regarding enovate

Kay - where does this stand?  Enron accounting was notified on Wednesday that
the audit would be taking place.  We need this in place prior to the start of
the audit.

Also, what about the individual CA's.

Thanks - Gregg
----- Forwarded by Gregg Penman/Corp/Enron on 04/20/2001 09:47 AM -----

	j.nassos@pecorp.com
	04/17/2001 07:12 PM

		 To: Kay.Mann@enron.com
		 cc: Gregg.Penman@enron.com, j.pokorny@pecorp.com, b.kowalski@pecorp.com,
f.jacobsen@pecorp.com
		 Subject: RE: Confidentiaility Agreements regarding enovate

Hi Kay -

You may recall that back in February, we almost finalized two
confidentiality agreements related to enovate L.L.C. activities.  Our
auditors will be sending to enovate shortly a letter indicating they would
like to review various books and records of enovate and ENA as its
activities relate to enovate.  In connection with the review, we need to
finalize those confidentiality agreements.

I have made the change you requested in the attached e-mail to both of the
agreements (PEC and enovate) and have attached below an execution copy of
the agreements for ENA to date and send to PEC and enovate for siganture.
Assuming the attached copies are acceptable, please have ENA sign two
originals of each agreement and send them to me.  I'll arrange for Bill
Morrow to sign the PEC agreement and work with Greg Penmen to have enovate
sign the other agreement.

If you have any questions, please call.  Thanks for your assistance.

John G. Nassos
Asst. General Counsel
Peoples Energy Corporation
130 East Randolph Drive
Chicago, IL 60601
Tel (312) 240-4413
Fax (312) 240-4486
j.nassos@pecorp.com

 <<Conf Ag enovate - ENA (evaluation of enovate) exec.doc>>  <<Conf Ag
Peoples Energy Corp. - ENA (evaluation of enovate) exec.doc>>

> ----------
> From:  Kay.Mann@enron.com[SMTP:Kay.Mann@enron.com]
> Sent:  Thursday, February 08, 2001 3:42 PM
> To:  j.nassos@pecorp.com
> Cc:  Gregg.Penman@enron.com
> Subject:  Re: Confidentiaility Agreements regarding enovate
>
>
> Hi John,
>
> The enovate version looks fine.  I suggest this change to the Peoples
> version:
>
> iv)  is  required to be disclosed to comply with any applicable law,
> order,
>      regulation  or ruling or to enforce enovate's or PMW's rights in
> court
>      or  in  an  arbitration  proceeding  in  connection  with  the
> Limited
>      Liability  Company  Agreement  of  envoate  dated  April  26, 2000,
> as
>      amended,  modified,  and  supplemented  from  time  to  time (the
> "LLC
>      Agreement").  If  PEC  is  requested  or  required  (by oral
> question,
>      interrogatories,  requests  for  information  or  documents,
> subpoena,
>      civil  investigative  demand  or  similar  process)  to  disclose
> any
>      Confidential Information, PEC will promptly notify ENA of such
> request
>      or requirement so that ENA may seek an appropriate protective order
> or
>      waiver  in  compliance  with provisions of this Agreement.  If PEC
> and
>      ENA  are  both  parties  to  the  proceeding,  PEC  will  agree  to
> an
>      appropriate protective order.
>
>
>
> Thanks,
>
>
>
> Kay
>
>
>
>
>

----------------------------------------------------------------
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.

 - Conf Ag enovate - ENA (evaluation of enovate) exec.doc
 - Conf Ag Peoples Energy Corp. - ENA (evaluation of enovate) exec.doc


i will try to make an appearance. what time are you heading over there?


I just came from the House Ag. Committee where the interested parties have
congregated throughout the negotiations today.  Title I and Titles II are
closed, which include the energy/metals exemption language. Tom Briggs and I
have reviewed the latest draft (minus any changes made in pen by the staff)
and the language critical to Enron titled "Legal Certainty for  Certian
Transaction in Exempt Commodities" is identical to that passed out of the
House.  This is satisfactory to us.

We hope and expect (Speaker Hastert has commited to doing so) to have this
included in the final end of the year omnibus appropriations legislation.
Congress will likely vote on this legislative package on Friday.

This could all come unraveled at this late date, but we are cautiously
optomistic (George W's words yesterday afternoon...so maybe a good omen).

Chris and Tom

----- Forwarded by Chris Long/Corp/Enron on 12/13/2000 05:58 PM -----

	Stacy Carey <SCAREY@ISDA.ORG>
	12/13/2000 01:15 PM

		 To: US REGULATORY COMMITTEE <USREGCOMM@isda.org>
		 cc:
		 Subject: CEA Legislation

Negotiations between Treasury Department and Senator Gramm last evening and
this morning resulted in substantial progress on the CEA legislation.
However, certain drafting issues remain open and final sign-off by all
parties has not been obtained.  In a conference call this morning the
Treasury Department cautioned that there are open points on almost every
title but that progress had been achieved.

Draft language is currently circulating between Senator Gramm, Treasury
Department and the House Agriculture Committee.  All parties are working to
achieve final language as soon as possible this afternoon in order for the
final CEA package to be attached to a final spending package which is likely
to be considered by Congress tomorrow.

Please call (917)543-9622 if you have any questions or if you would like to
discuss further.

Stacy


I gather John would like this taken care of straight away.  Could you please
keep me posted on the progress?  Thank you.
---------------------- Forwarded by Laurel Adams/HOU/ECT on 09/07/2000 12:36
PM ---------------------------

John Greene
09/07/2000 12:17 PM
To: Laurel Adams/HOU/ECT@ECT
cc:
Subject: Instinet Terminal - Enron London

Laurel,

Please take care of this for us.  It is a contract to have an Instinet
terminal installed on my desktop here in London.

Thanks and regards,
John
---------------------- Forwarded by John Greene/LON/ECT on 07/09/2000 18:19
---------------------------

	Enron Capital & Trade Resources Corp.

	From:  Mark_Freeman@instinet.co.uk                           07/09/2000 11:10

To: John.greene@enron.com
cc:

Subject: Enron

Good afternoon John.

Attached is a suggested draft letter.  As it is from a US company to another
US
company, you may want to Americanise the salutations/layout etc !!

(See attached file: Enron- London terminal.doc)

As soon as I receive the signed version back form you, we can move ahead with
the installation process.

Kind regards.
Mark

 - Enron- London terminal.doc


-----Original Message-----
From: Ed Duncan  [mailto:EDuncan2@ArterHadden.com]
Sent: Saturday, September 08, 2001  12:47 PM
To: Mara, Susan
Cc:  douglass@energyattorney.com
Subject: Revised Petition and Points and  Authorities
Attached is the revised Petition and Points and Authorities  (the Sept. 8 Draft").  This draft has not been redlined because the changes  and additions are extensive.  Future revisions will be  redlined.

This draft will be revised to clarify the arguments, to  include page references to the exhibits, to include missing authorities, and to  eliminate typos, etc.

The argument is that the Commission acted contrary to state  and federal constitutional guaranties (a de novo standard of review) and that  the Commission acted in excess of its authority and contrary to law thereby  abusing its discretion (a substantial evidence standard of review).

You will be provided a revised draft by noon on Monday (Sept  10) which I anticipate will be substantially complete.  As soon as it is  available, I will send it to you.  At that time do you want it also sent to  the addressees listed in ypur Friday Email?  EWD
 - Sept 8 Draft.doc


Gary,

Does the workhseet mentioned below assist you with the monthly operations
related to the industrial customers?

D
---------------------- Forwarded by Daren J Farmer/HOU/ECT on 06/28/2000
07:57 PM ---------------------------
To: Pat Clynes/Corp/Enron@ENRON
cc: Daren J Farmer/HOU/ECT@ECT, Gary A Hanks/HOU/ECT@ECT
Subject: Re: Industrials

 First of the month  industrials are coming along fine.  I will finalize my
pathing tomorrow, Thursday,  and set up buybacks and swings by the
    end of day Friday.

     The industrial "Buyback & Deficiency Deals" worksheet  has captured the
necessary data to help Gas Control & the on-call scheduler as well as
      myself and Client Services.
      I  will have a preliminary worksheet done by the end of day Friday.

      I am on vacation during the week of July 5th thru July 10th.

	Enron North America Corp.

	From:  Pat Clynes @ ENRON                           06/28/2000 12:45 PM

To: Robert E Lloyd/HOU/ECT@ECT
cc: Daren J Farmer/HOU/ECT@ECT
Subject: Re: Industrials

Robert,
How do we look on the industrial deadlines?  Please let me know.   Thanks,
Pat

Daren J Farmer@ECT
06/28/2000 11:19 AM
To: Pat Clynes/Corp/Enron@ENRON
cc:

Subject: Industrials

When will the buybacks and swings be set up for July?  I am a little
concerned with the long weekend coming up.  I believe that we agreed that
these would be set up by the 3rd work day, which would be Friday the 7th.
(Six days of flow.)  I definitely don't think that we should any later.  It
would be great if this could be handled sooner, miimizing our economic impact.

Additionally, we need to get the Industrial spreadsheet up and running
again.  This report is very beneficial to Gas Control, industrial traders and
schedulers on call.

Let me know what you think.

D


wouldn't miss it for the world.  for the record, ms silva has stolen an idea
that i originated years ago, i.e., favorite take out.  Colleen, as you'll
remember, there were nothing but cigarette butts in the food by the end of
the party.  Ah, the days of wine and song.

nostalgically yours,
jeff


Whom would you recommend play this role for Energy Operations?  Let me know
your thoughts.  --Sally
---------------------- Forwarded by Sally Beck/HOU/ECT on 12/27/99 02:29 PM
---------------------------

Cynthia Morrow@ENRON
12/08/99 10:27 AM
To: Sally Beck/HOU/ECT@ECT
cc:
Subject: Need for Business Owner on SAP/Unify Interface

Sally,

Project Apollo has asked me to come up with a functional person from the
business unit who will be responsible for sign off on the SAP/Unify
interfaces.   My feeling is that there should be at least one person from the
Settlements area and one person from Georgeanne Hodges' accounting group
involved in the signoff.

To date we have been working very closely with Melissa White and Regan Smith
from the technical side.  Additionally, there have been design workshops
which have been attended by Lisa  Csikos and Evelyn Aucoin.

Who would you like to be involved in this process??

If you could please let me know or let me know if you would like to sit down
and talk about it.

Cindy


Steve -- Here it is!   Let me know if you need additional information.   -Lisa
----- Forwarded by Lisa Yoho/NA/Enron on 03/06/2001 02:19 PM -----

	Cathy Phillips@ECT
	03/06/2001 02:18 PM

		 To: Lisa Yoho/NA/Enron@Enron
		 cc:
		 Subject: EGM presentation

Hi Lisa -

An electronic copy of the EGM Off-site presentation for Steve Kean is
attached below.  Please let me know if you have any questions.

Thank you.

Cathy P.
X-36898


Deal #231757
Purchase

The deal in sitara indicates that the price for East Texas Gas Systems is
HSC, Index -$.085.
Per the contract, the redelivery  at ETGS Carthage Hub Tailgate should be
priced at  HSC Index -$.0825.
Are these the same points and is the price correct?

Thanks
katherine


Marcelo:  Have you had a chance to speak with AFAC about the week of November
28?  Please let me hear from you soon.  Regards.  Sara

"MBTOS - Marcelo Rodrigues" <Mbtos@tozzini.com.br> on 10/27/99 05:40:35 PM
To: Sara Shackleton/HOU/ECT@ECT
cc: Andrea Bertone@ENRON_DEVELOPMENT, Brent Hendry@ENRON_DEVELOPMENT, Lynn
Aven@ENRON_DEVELOPMENT, Randy Young@ENRON_DEVELOPMENT, Rick
Hopkinson@ENRON_DEVELOPMENT, Mark Taylor/HOU/ECT@ECT, Af@tozzini.com.br
Subject: Re: Financial Trading in Brazil

"Dear Sara:

Thank you for your message below. Please note that AFAC is in a business trip
in Japan and will be back to Brazil in the beginning of next week. We will
confirm to you the scheduled dates referred to in your message below in the
middle of next week.

We look forward to receiving from you the list of remaining issues referred
to below.

Best regards,

Marcelo Rodrigues"

>>> "Sara Shackleton" <sshackl@ect.enron.com> 10/27 6:32 pm >>>

AFAC and Marcelo:  We are in the process of reviewing the Comparative Chart
and
attached memorandum and will soon provide a list of remaining issues which
Enron
North America and South America would like to have addressed.  We are also
attempting to identify specific types of transactions which may be required to
hedge Enron risk in Brazil before 12/31/99.  For planning purposes, the
"group"
would like to meet with you in Sao Paulo during the week of November 28.   We
are hoping that you may be able to accomodate us on  November 30 (Tuesday),
December 1 (Wednesday) or December 2 (Thursday).  Please let us hear from you.
Regards.  Sara


Effective Saturday, January 19 we have terminated deliveries to Chelan (7 MW RTC at the MC @$34) deal #757497.

Sean


Thank you so much for taking the initiative to pray for me. God bless you and
your prayer warriors. I am a strong believer and I have put all of my trust
in God. I would like to also share with you that a friend of mine had to have
one of her breast removed on last week and I know it was a test of her faith.
She does nothing but minister to  everyone through prayer, words of
encouragement;  and now this has happened to her to trust and be challenged
in her faith. I do believe I will be okay and I also believe you heard my cry
for a reason. I do need your prayers and everyone else's. I do need your
prayers so that I can be at peace.
Thank you so much for caring. I will definitely keep you posted between now
and next Thursday December 21st when I go in for my Ultra Sound.

Your friend in Christ,
Davette

Dana Davis@ECT
12/11/2000 02:30 PM

To: Davette Warren/HOU/EES@EES
cc:
Subject: prayer

Davette,
Greeting to you in the name of my Lord and Savior Jesus!  This is the letter
that I spoke of that  was sent to me this morning from one of the ladies at
my church.  She also forwarded this message to several other women outside of
our church.  I want you to read it because I believe that it will encourage
you to trust God if you are not and hold tight if you are because the
effectual fervent prayers of the righteous do avail much.  Like I breifly
stated earlier, I will have my prayer ministry group pray for you tonight and
we will keep on praying for you until I hear you tell me ALL is well.  We try
to meet every Monday night to pray over special prayer request that we have
received along with praying for the needs our families, friends, church,
government and even our enemies.  Our meeting start at 7pm but we really
don't get started praying until 8pm so if you want to touch and agree with us
around that time that would be great.  We're all in this together if you hurt
we hurt. : )

I am writing to each of you because I need you to be in prayer with me
this week.

For the past two months, I have been going to the doctor, because of a
lump I found
under my arm.  As a result of that I have had to have a mammogram and an
ultrasound of
my breast.  Both test came back abnormal and  I am seeing a specialist
this week to
determine if I need to have a biopsy or not.

Since God has given me the task of
doing a mighty work for him the devil has been busy.

I trust and believe that God will heal.  God gave me a revelation several
months
ago that ALL IS WELL since that time, my husband and I have reunited our
family,
we have been blessed tremendously in more ways than I can share with you
at
this time, however, in the midst of those blessings, the devil has gotten
mad.  So he
has decided to try and pull me down once again.  I refuse to be brought
down off this
spiritual high that is truly a blessing from God.

That is why I am calling on all you prayer warriors
I need you to be in prayer with me this week.  I see the specialist on
Thursday
and I will know then if I need to have the biopsy.

God Bless Each of you
and
Season's Greetings

Love

Marylyn
________________________________________________________________
GET INTERNET ACCESS FROM JUNO!
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Join Juno today!  For your FREE software, visit:
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I agree with the concept of the short letter.  I have drafted some changes:
some taking more of a conciliatory tone and others suggesting a potential
settlement proposal.   Due to all the PRC meetings today, I was unable run
this by anyone, so this product is simply my suggestions.


A Conference call to discuss any comments we may want to make on the CPUC's Proposed Decision in the GIR Proceeding has been scheduled for Wednesday, Oct. 17, 2001 at 11:00 AM Houston/Omaha time and 9:00 AM California time.  The dial-in # is 1-877-795-3687 code: 350955.  In Houston, Conf. Rm. 1336 has been reserved for the call.


-----Original Message-----
From: 	Phillips, Marc
Sent:	Friday, September 21, 2001 3:14 PM
To:	Woods, Trevor
Subject:	RE: Methanol Plant

In the last week Air Liquide has asked for more information about the methods used to calculate the allowances for the plant, but have not rescheduled the conference call with their emissions broker and Enron that was originally scheduled for September 11th. I have not heard anything from TNRCC about the allowances, but I will inform you as soon as I hear anything.

 -----Original Message-----
From: 	Woods, Trevor
Sent:	Friday, September 21, 2001 2:07 PM
To:	Phillips, Marc
Subject:	Methanol Plant

Marc,
How's things looking at the plant?  Also, do you know if they've been allocated an amount of allowances for the plant for the new HGA NOx cap and trade program?
Thanks,
Trevor


I am pleased to announce the following promotions for members of our
Corporate Administrative Services Team.

 Steve Woods has been promoted to Director of Facilities Operations.

 Ronald Fain has been promoted to Chief Pilot.

 Alan Jones has been promoted to Project Manager - Security and Life Safety
Systems.

 Denise Oscar has been promoted to Secretary I.

Please join me in congratulating Steve, Ron, Alan and Denise on their well
deserved promotions.

- Bill


Tana - can you fax me the final executed copies of the following agreements
we did this week:

1. Employee Access Agreement and Waiver
2. Administrative Services Agreement
3. Software License Agreement

Please fax to my attention, c/o conf. room 16A, at 713-224-9511.  You can
reach me at 713-546-5018 if you have any questions - Thanks.

**********NOTE**********
The information contained in this email message is intended only
for use of the individual or entity named above.  If the reader
of this message is not the intended recipient, or the employee or
agent responsible to deliver it to the intended recipient, you
are hereby notified that any dissemination, distribution or
copying of this communication is strictly prohibited.  If you
have received this communication in error, please immediately
notify us by telephone (214-746-7700), and destroy the original
message. Thank you.


Steve -- great guidance.
Cynthia -- hope we're in time.
Jeff -- the fifth paragraph has some supply/demand figures for the early part
of this week that I heard but can't track down the written source. Any
suggestions?

Please review and don't hesitate to call me this weekend. Best bet is home
number -- 914-736-9504 or cell phone -- 914-318-1568.

Jeannie


Thanks for Saturday!!!!!!!!!!

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


Start Date: 1/6/02; HourAhead hour: 5;  No ancillary schedules awarded.  Variances detected.
Variances detected in Load schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002010605.txt

---- Load Schedule ----
$$$ Variance found in table tblLoads.
     Details: (Hour: 5 / Preferred:  12.69 / Final:  12.66)
  TRANS_TYPE: FINAL
  LOAD_ID: PGE4
  MKT_TYPE: 2
  TRANS_DATE: 1/6/02
  SC_ID: ENRJ


We would like to discuss this list with you in the meeting this morning with
Jeff.  Thanks.

---------------------- Forwarded by Jodi Coulter/HOU/ECT on 09/01/2000 08:25
AM ---------------------------

<Scott.Musch@chase.com> on 08/30/2000 07:02:56 PM
To: jodi.coulter@enron.com, andy.west@enron.com
cc: Slava.Brin@chase.com

Subject: Preliminary Request List

Attached is an information request list from Apollo.  I'll call you tomorrow
morning to discuss.  Thanks.

---------------------- Forwarded by Scott Musch/CHASE on 08/30/2000 08:03 PM
---------------------------

"M. Ali Rashid" <Rashid@nyc.apollolp.com> on 08/30/2000 05:49:35 PM

To:   Scott Musch/CHASE@CHASE
cc:   "Marc Becker" <Becker@nyc.apollolp.com>
Subject:  Preliminary Request List

Scott-

Attached, please find a preliminary due diligence request list.  If you
could pass this along to the relevant parties at Enron and Net Works, it
would be much appreciated. The attached memo should explain the scope and
purpose of our request.

-Marc & Ali

 - Memo_Due Diligence_Prelim..doc


Start Date: 12/21/01; HourAhead hour: 4;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2001122104.txt


Hi Sandy:
Can you and John make a call on Friday with Portland to discuss our response to the PUC questions?

Best,
Jeff


What WSJ data request?

Jeff Dasovich@EES
08/29/2000 08:31 AM
To: Tim Belden/HOU/ECT@ECT, Christopher F Calger/PDX/ECT@ECT, David
Parquet/SF/ECT@ECT, James D Steffes/HOU/EES@EES, Paul Kaufman/PDX/ECT@ECT,
Sandra McCubbin/SFO/EES@EES, Susan J Mara/SFO/EES@EES, Mona L
Petrochko/SFO/EES@EES, Roger Yang/SFO/EES@EES, mpalmer@enron.com, Mary
Hain/HOU/ECT@ECT, Joe Hartsoe/Corp/Enron@ENRON, Karen Denne/Corp/Enron@ENRON
cc:
Subject: Update on WSJ Data Request

---------------------- Forwarded by Jeff Dasovich/SFO/EES on 08/29/2000 10:30
AM ---------------------------

Gary Ackerman <foothi19@idt.net> on 08/25/2000 11:09:33 AM
Please respond to foothi19@idt.net
To: Bill Ross <billr@calpine.com>, Bob Anderson <Robert_Anderson@apses.com>,
Carolyn Baker <cabaker@duke-energy.com>, Corby Gardin
<jcgardin@newwestenergy.com>, Curtis Kebler
<Curtis_L_Kebler@reliantenergy.com>, Denice Cazalet <dcazalet@apx.com>, Gene
Waas <glwaas@calpx.com>, Greg Blue <gtbl@dynegy.com>, Jack Pigott
<jackp@calpine.com>, Ken Czarnecki <Ken_J_Czarnecki@calpx.com>, Kent
Wheatland <KEWH@dynegy.com>, "Klemstine, Barbara A(F56661)"
<barbara_klemstine@apses.com>, Randy Hickok <rjhickok@duke-energy.com>, Rob
Lamkin <rllamkin@seiworldwide.com>, Rob Nichol <rsnichol@newwestenergy.com>,
robert berry <berry@apx.com>, Roger Pelote <rpelote@energy.twc.com>, Sue Mara
<smara@enron.com>, curt hatton <curt.Hatton@gen.pge.com>, Jeff Dasovich
<jdasovic@enron.com>, Dan Douglass <douglass@arterhadden.com>
cc: Lynn Lednicky <LALE@dynegy.com>, Tim Belden <tbelden@ect.enron.com>
Subject: Update on WSJ Data Request

I have received several comments about the WSJ data request.

Enron's Tim Beldon wrote me that he would consider it.  The PX's Gene
Waas was concerned based on previous experiences of letting data go to
the WSJ.  I talked with Dynegy's Lynn Lednicky this morning and he
suggested that the PX has aggregated data for several days, and that
releasing the aggregate data with individual bid data from our members
would give the WSJ a better window into the issues.  That is, simply
releasing your bid data will not tell the WSJ anything of value.

I know that Rebecca would insist that the dates for which any data are
polled our at her choice, not ours.  It must be necessary to assure
there is no possibility of bias.  I am wondering if the PX would be
willing to assist us by putting together aggregate data for days which
the WSJ selects, and then give us the opportunity to release our
individual data for the same days?

I am also wondering if we shouldn't have an off-the-record
teleconference call with the WSJ whereby both sides can get a better
understanding of what the WSJ wants, and how we can best provide it.
Would anyone be interested in me setting up such a meeting for next
week, say Wednesday or Thursday?

gba


I think it's the first doc.  Check the "Re" for the deal number.  Thanks.
Sara
---------------------- Forwarded by Sara Shackleton/HOU/ECT on 12/14/99 11:16
AM ---------------------------

	Enron North America Corp.

	From:  Jarrod Cyprow                           12/13/99 09:23 AM

To: Sara Shackleton/HOU/ECT@ECT
cc:
Subject: Onconto Falls (Swaptions)


Let me know if you need anything else.


Michell Vitrella called and wanted to know if the "Research Group" would
like to submit an article for the next issue of the ENA Newsletter
("Ameriflash)

They need to have the article by tomorrow.

Thanks!

Shirley

---------------------- Forwarded by Shirley Crenshaw/HOU/ECT on 10/24/2000
10:15 AM ---------------------------

	From:  Michelle Vitrella                           10/24/2000 09:53 AM

To: Shirley Crenshaw/HOU/ECT@ECT
cc:
Subject: Ameriflash Newsletter

---------------------- Forwarded by Michelle Vitrella/HOU/ECT on 10/24/2000
09:54 PM ---------------------------

	Enron North America Corp.

	From:  ENA Public Relations @ ENRON                           10/19/2000
08:25 PM

Sent by: Enron Announcements@ENRON
To: All_ENA_EGM_EIM
cc:
Subject: Ameriflash Newsletter

NOTE FROM MARK FREVERT

With the wide and varied activities of our three organizations, we created
this e-mail newsletter to keep everyone better informed about our various
businesses.  I hope you find it informative and more importantly, that you
will use this newsletter to help spread the word about the successes in your
group.

To provide content for future e-mails, contact Michelle Vitrella in our
Public Relations group via e-mail or call her at ext. 3-9767.  Communication
is one of the core Enron values and I believe this is a great way to improve
communication across our wholesale businesses.

Additionally, I would like to again encourage everyone to take a few minutes
to complete &The Pulse8 survey.  This annual survey regarding the work
experience at Enron and how we can make it better is an important part of the
two-way communication process at Enron.  Please go to the Enron intranet and
type survey.enron.com.  It only takes a few minutes, it,s confidential and
your comments will help make Enron a better place to work.

BUSINESS HIGHLIGHTS

Natural Gas
Middle Marketing,s biggest trade of the year so far occurred this month.  The
significant transaction was a five year, multimillion dollar restructuring
with a subsidiary of Formosa Plastics, one of the world,s largest producers
of polyvinyl chloride.

Additionally, Continental Airlines, the fifth largest US carrier, has hedged
a considerable amount (1.2 million barrels/month) of crude oil.   Winter
Nymex hedges were put in place for the undisputed heavyweight chip champ of
the world, Frito Lay.

Pulp & Paper
With the acquisition of Garden State Paper and launch of Clickpaper.com,
Enron is creating an efficient spot physical market for pulp and paper
commodities.  Buyers and sellers will benefit from improved price
transparency and reliability and access to Enron,s online financial markets.

Improved price transparency and the ability to imbed financial derivatives
into physical trading flows will facilitate the growth of Enron,s trading
business.  To date, Clickpaper.com has traded over 1 millions tons of pulp
and paper product with a notional value of over $675 million.

Upstream Origination
Upstream Origination, headed by Julie Gomez and Jean Mrha, focuses on natural
gas products to optimize commercial value associated with the natural gas
grid on the continent and in the Gulf of Mexico (GOM).  Through products such
as storage, electric compression and producer services & outsourcing, ENA
creates value for its customers and reconfigures the natural gas
infrastructure to be more efficient.  In addition, Upstream Origination
transactions exploit the unique relationship between development of strategic
assets through sophisticated financing structures and the utilization of the
market information created by those assets.

&THE PULSE8 SURVEY RESULTS

As of Wednesday, October 18, the total responses to &The Pulse8 from
ENA/EGM/EIM are 689.  This is approximately 30% of all employees.  Since our
goal is a 100% response rate, we have a long way to go!  Please take a few
minutes to log on and give Enron your thoughts.  The Pulse is located at
survey.enron.com on the Enron intranet page.

If you like competition, here are the results by group:

Commercial - Origination  131
Energy Operations   126
Risk Management and Trading 106
Other/None of the Above  91
Bus. Analysis & Rep./Fin. Ops. 90
Legal     46
Gas Assets    37
Human Resources   30
Tax     18
Technology/IT    14

WELCOME

Transferred Into ENA/EIM/EGM
ENA - Kathleen Neal/HR, Suzanne Kelly/Infocentral, Tobias Monk/Finance Direct
EIM - Eric Connor/Industrial Energy Group
EGM - Eric Calub/Global Product Mgmt

New Hires ENA/EIM/EGM
ENA - Lance Cunningham/CTS Research, Anita Dupont/CTS Research, Yvette
Hales/Gas Logistics ) East, Angela Howell/Equity Trading, Farid Mithani/Power
Risk-Credit
EGM - Heather Purcell/Enron Global Markets

IN THE NEWS

&No company illustrates the transformative power of innovation more
dramatically than Enron.  Over the past decade Enron,s commitment to the
invention*and later domination*of new business categories has taken it from a
$200 million old-economy pipeline operator to a $40 billion new-economy
trading powerhouse.8
From &The World,s Most Admired Companies,8 Fortune, Monday, October 2

NUGGETS & NOTES

&What,s the message we,re trying to get across?8 ) Ray Bowen, COO EIM

&I,m not a micro-manager8 - John Lavorato, COO ENA

&Make it so, number one8 ) Jeff Shankman, COO EGM

CONTEST

Enron is & The Most Innovative Company8 based on Fortune Magazine,s Most
Admired Survey.  ENA Public Relations is ready to put Enron North America,
Industrial Markets and Global Markets to the test.  We need your creative
minds to help name the NEW Electronic Newsletter we now call AmeriFlash.  Put
on your thinking caps and submit your ideas for a new name to
michelle.vitrella@enron.com.  The ENA Public Relations Team will narrow the
list to the TOP TEN and then send it to our official judge, Mark Frevert, to
make the final decision.  The winner will receive a gift certificate to any
Pappas restaurant.  GOOD LUCK!


-----Original Message-----
From: 	Saldana, Alex
Sent:	Monday, October 15, 2001 10:26 AM
To:	Allwein, Robert; Arteaga, Airam; Boudreaux, Shanna; Carter, Tamara; Collins, Joann; Garcia, Clarissa; Gillespie, Steve; Halstead, Lia; Homco, Meredith; Lamadrid, Victor; Loocke, Kelly; Ordway, Chris; Prudenti, Dan; Ramirez, Robert; Sanchez, Christina; Wood, Tracy
Cc:	Superty, Robert; Jackson, Brandee; Choate, Heather; Bates, Kimberly
Subject:	Wedding Shower/Time/Date Changed

(Kim please forward to your group)

Alex Saldana
Administrative Assistant
Enron Networks
(713) 345-7389


This deal is also entered with a Mid C del pt and CAISO energy.  Let me know
when it is fixed.

Thanks!


FYI

Vince
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 02/12/2001
11:22 AM ---------------------------

Eugenio Perez
02/08/2001 01:13 PM
To: Vince J Kaminski/HOU/ECT@ECT, Stinson Gibner/HOU/ECT@ECT, Rudi
Zipter/HOU/ECT@ECT
cc:
Subject: New Merchant Asset VaR Model

I was recently informed of a risk-reducing strategy that we have on the
Merchant Asset portfolio.  It seems that we have a vertical bear spread
hedging our holdings of Hanover Compression.

Since these holdings represent about 10% of the porfolio, I felt that
parametric VaR would not be accurate enough.  As a result, I have changed the
model to a Monte Carlo simulation with the following details:

Following my conversation with Vince, I changed the method of parameter
estimation to RiskMetrics standard (assume a zero mean and estimate daily
volatilities and correlations using exponential weighting with a 0.94 lambda).

I use the Cholesky decomposition to produce correlated random normals, which
I then use to simulate Geometric Brownian Motion prices.

I treat the Hanover Compression stock holding and bear spread together as a
synthetic short put at 34 and long call at 92.  I do full revaluation of the
options with the Black-Scholes.  I keep volatility and the interest rate
constant for the sake of computational speed.

I write my Monte Carlos through VBA and formulas in Excel, so this model does
not need Crystal Ball.

Regards,

Eugenio


Hee hee . .

---------------------- Forwarded by Jennifer Bagwell/NA/Enron on 12/01/2000
09:38 AM ---------------------------

Hockettjenny@cs.com on 11/30/2000 09:47:40 PM
To: Jennifer.Bagwell@enron.com
cc:

Subject: Hangover Classification

Hey JB - You don't how any of these feel do you?
Later - Jenny

Hangover Classification

1 Star Hangover:
 No pain. No real feeling of illness. Your sleep last night was a mere
 disco nap which is giving you a whole lot of misplaced energy. Be  glad
 that you are able to function relatively well. However, you are still
parched. You can drink 10 sodas and still feel this way. Even
vegetarians are craving a steakbomb and a side of gravy fries from any
truck stop USA.

2 Star Hangover:
No pain. Something is definitely amiss. You may look okay but you have
the attention span and mental capacity of a staple gun. The coffee you =
chug
to try and remain focused is only exacerbating your rumbling gut, which =
is craving rootie tootie fresh and fruity pancake breakfast from IHOP. =
Last night has wreaked havoc on your bowels and even though you have a =
nice demeanor about the office, you are costing your employer valuable =
money because all you really can handle is surfing internet porn and =
writing junk e-mails.

3 Star Hangover:
Slight headache. Stomach feels crappy. You are definitely a space shot
and so not productive. Anytime a girl walks by you gag because her =
perfume
reminds you of the random gin shots you did with your alcoholic friends =
after the bouncer 86'd you at 1:45 a.m. Life would be better right now =
if you were in your bed with a dozen donuts and a meatball sub watching =
the E! fashion awards. You've had 4 cups of coffee, a gallon of water, 3 =
Snapples and a liter of diet coke- yet you haven't peed once.

4 Star Hangover:
Life sucks. Your head is throbbing and you can't speak too quickly or
else you might puke. Your boss has already lambasted you for being
late and has given you a lecture for wreaking of booze. You wore nice
clothes but that can't hide the fact that you missed an oh-so crucial
spot shaving, (girls, it looks like you put your make-up on while
riding the bumper cars) your teeth have sweaters, your eyes look like
one big vein and your hair style makes you look like a reject from the
class picture of Revere High, '76. You would shoot your mother for one =
or all
of the following: 1. The clock to strike 6pm. 2. The entire appetizer =
list from      TGIFridays or 3. A time machine so you could go back and =
NOT have gone out the night before.

5 Star Hangover:
aka Dante's 4th Circle of Hell. You have a second heartbeat in your
head which is actually annoying the employee who sits in the next
cube. Vodka vapor is seeping out of every pore and making you dizzy.
You still have toothpaste crust in the corners of your mouth from
brushing your teeth. Your body has lost the ability to generate saliva
so your tongue is suffocating you. You'd cry but that would take the =
last
of the moisture left in your body. Death seems pretty good right now. =
Your
boss doesn't even get mad at you and your co-workers think that your dog
just died because you look so pathetic. You should have called in sick
because let's face it, all you can manage to do is bitch about your =
state-
which is a mystery to you because you definitely don't remember who you =
were
with,  where you were, what you drank and why there is a stranger still
sleeping in your bed, unaccompanied, at your house. The only thing you =
can do is
smoke a bong hit and pass out. It's when you wake up a few hours later
with a lesser star hangover that you eat a large pizza, an order of Kung =
Pao
Chicken, a ham and cheese omelet and a batch of rice krispie treats.


Thanks TJ.  Unfortunately, I presumed that I wouldn't get in, so didn't
attend.  No problem, though, since the two classes that I did get into are
great.  Thanks again.

Best,
Jeff