Hi Evening MBA students:

Thanks for all of your e-mail responses for Round II of registration!

We will review your requests over the next few weeks and will confirm your
Spring 2001 schedules on December 8 (please see my Oct. 27 memo on
registering for classes).

My work hours are typically 11:30-8:30 M-Th and 9-5 on Fridays.  E-mails
are the best so that I can note the date and time of your request and to
keep accurate records.

If you  have something urgent and need to contact me immediately, please
do so by telephone as that is the quickest way to contact me. I can be
reached at (510) 643-0435.  Just leave a message if I'm away from my desk
as I check my phone messages often.

FEE PAYMENTS
Please note that Spring 2001 fees total $10,513.50, split into 5 payments
of $2102.70.  These fees do not include health insurance.  Please disregard
the Spring 2001 Fee Schedule on page 4 on my October 27 memo.

Thanks,
TJ


As the November elections approach, I encourage everyone to exercise your right to be heard and to make a difference through your vote.  To do so, you'll need to have a valid voter's registration.  If you do need to register, please visit your county's website or call your county election officials to learn the procedures and timing.

For Houston-based employees:
The deadline for voter registration in Texas is October 9.  Voter registration forms are available at the InfoZone in the lobby, but if you choose to mail your form please allow enough time for the postal service to deliver your form.  See the following list if you need to obtain election information pertaining to Harris and surrounding counties.  As the election date nears, Harris county voters' guides will be available at the InfoZone in the lobby.

Harris		713-368-2309
Montgomery	936-539-7843
Waller		979-826-7643
Brazoria	979-864-1320
Fort Bend	281-341-8670
Liberty		936-336-4629
Chambers	409-267-8301
Galveston	409-766-2280


John,

Just wanted to remind you that I will be out of town during my scheduled shift time off 11/23-11/29.


It looks like people are going to start arriving around 7:00 so I'd say just
show up after your done running and getting all pretty.  I'm sure we'll all
be there till at least 10:00.


ABX2 2 (Corbett) was just heard by the Assembly Appropriations
Committee. The bill was placed on the Suspense File which is reserved
for bills with a projected fiscal impact in excess of $150,000.  Bills
on the Suspense File are, for all intensive purposes, debated in
private, then voted on in a public hearing.  The Suspense File will be
taken up on May 31. The following amendments are being considered by
Assembly Member Corbett:

Exempt co-generation
Exempt new power plants
Exempt existing long term contracts
Raise the price to $100 versus $60


Kim:

(See attached file: EPECONb BASE.doc)

This is EPE's base gas contract - from the GISB S-T contract model.

EPE's lawyer working on the contract with ENRON in 2000 was Mr. Will
Guerant at 512-495-8832.

Thanks,

Barry
 - EPECONb BASE.doc


Oliver,

I can cover both presentations.

Vince

"Oliver Bennett" <conf-ny@msn.com> on 12/21/99 09:47:30 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc: Shirley Crenshaw/HOU/ECT@ECT
Subject: speaker confirmation - Risk 2000, Boston, 13 & 14 June 2000

Dear Vince,

Thank you for agreeing to take part in our annual US congress.
There were 2 things that I would ideally like you to be involved in.  The
first would be to present any new research you may have.  This would be part
of stream 3 (see attached) which looks at new research in derivatives
modelling and analysis.  If you would like to present any new research that
fits into the rough areas outlined that would be great.
The second would be part of a panel discussion on weather derivatives (number
44 attached).  I have also invited Jeff Porter (Koch) and Ravi Nathan
(Aquila).
Please let me know if you would like to present any new research and/or take
part in the panel.

i look forward to hearing from you soon.

Best regards,
Oliver

Direct: 212 925 1864 ext.152

Risk Publications, 270 Lafayette Street, Suite 700, NY 10012, New York
Fax: 212 925 7585  Email: conf-ny@msn.com
www.riskpublications.com
 - att1.htm
 - invprog.doc


You cannot pickup players in the playoffs.  That defeats the whole purpose of
the playoff system!

Patrick Ryder@ENRON
12/06/2000 03:20 PM
To: Jason.Bass2@COMPAQ.com, Phillip M Love/HOU/ECT@ECT, Bryan
Hull/HOU/ECT@ECT, David Baumbach/HOU/ECT@ECT, lqcolombo@aol.com, Michael
Walters/HOU/ECT@ECT, Matthew Lenhart/HOU/ECT@ECT, Harry Bucalo/HOU/ECT@ECT,
Gary W Lamphier/HOU/ECT@ECT, O'Neal D Winfree/HOU/ECT@ECT, Eric
Bass/HOU/ECT@ECT, Steve Venturatos/HOU/ECT@ECT
cc:
Subject: Pick ups

P-Love
Bledsoe 31
Matt Stover 26
Panthers D 6
49ers D 3
Seahawks D 3


Here is the pager number that has been setup via Jim Irvine.

email:    8776804806@skytel.com
Direct dial:
800 dial: 1-800-759-8352 box# 877-680-4806

I can be reached at this pager if you need to get me ASAP.

Ravi.


Thanks for taking me in last night.  Sorry about being drunk and stinky.
My cab, that we called at 6:10, showed up at 7:02.  I was so pissed.


Please update your estimate needs for 4/00 by March 27, 2000 @ 5:00pm est.

Thank You
Joann


Mike and Joe,

Is Enron or Reliant looking for any traders?  Mike Cook used to be a
semi-pro hockey player.  I am sure he can handle his own on the trading
floor (ie - kick your ass).

He is going to be in town next week.  Are either of you up to letting
him come by and introduce himself?

Thanks,
Curtis

-----Original Message-----
From: mcook1@tulane.edu [mailto:mcook1@tulane.edu]
Sent: Tuesday, October 16, 2001 3:02 PM
To: Hutcheson, Curtis
Subject: Houston

Dear Curtis,

Your father, who is a friend of my father John from Princeton, was kind
enough
to give me your email address.  I am in my second year of business
school at
the A.B. Freeman School at Tulane in New Orleans and I graduate in May.
My
concentration is in finance and my goal is to obtain a position in the
Energy
industry, either as a trader or broker.

As you must know, this is perhaps the worst time in recent history to be

looking for a job.  Your father gave me your name as a long shot.  He
figured
that since you live in Houston, you may know someone who might be able
to help
me out.  I greatly appreciate any thoughts, advice or insights you may
be able
to give me on the job market and any opportunities in Houston.

I have attached my resume in case you do know someone who is looking to
hire.
If you have any questions for me, my phone number is (504) 289-9783.  I
will be
in Houston next Thursday through Sunday for a Alumni networking event
for our
school.  I would like to meet you in person and talk about Houston over
a
beer.  Thank you for your time and I look forward to talking to you.

Sincerely,

Mike Cook


Here's one Carol did.
----- Forwarded by Mark Taylor/HOU/ECT on 03/08/2001 04:33 PM -----

	Carol St Clair
	03/08/2001 04:10 PM

		 To: Mark Taylor/HOU/ECT@ECT
		 cc: Frank Sayre/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Julia Murray/HOU/ECT@ECT
		 Subject: Term Sheet

Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com


----- Forwarded by Richard B Sanders/HOU/ECT on 04/11/2001 06:53 AM -----

	Richard B Sanders
	04/11/2001 06:53 AM

		 To: Bonnie White/ENRON@enronXgate@ENRON
		 cc:
		 Subject: RE: Service of Process - Crown/MCN Arbitration

Thanks for your help on this. I have asked Twanda to set up a meeting to talk
about all the matters you have and the potential insurance coverage for the
Cleveland case.

	Bonnie White/ENRON@enronXgate
	03/30/2001 02:58 PM

		 To: Richard B Sanders/HOU/ECT@ECT, Andrew Edison/NA/Enron@Enron
		 cc: Linda R Guinn/HOU/ECT@ECT
		 Subject: RE: Service of Process - Crown/MCN Arbitration

You will receive this service of process today. I have already spoken with
Sam Gaufin, Crown Energy's counsel, re the subpoena served on us by MCNIC.
ENA holds preferred stock in Crown Energy, but, as I understand from talking
with Dan Lyons, we don't consider it to really have any value.  In any event,
I will make sure that Sam knows what we are producing before it is produced,
and I have made arrangements for a protective order with respect to any Enron
confidential information (although thus far I have seen only a little that
would fall into that category).  Let me know if you have any
questions/comments.

 -----Original Message-----
From:  Arnold, Gay
Sent: Friday, March 30, 2001 1:36 PM
To: Sanders, Richard
Cc: Guinn, Linda; White, Bonnie; Studdert, James
Subject: Service of Process - Crown/MCN Arbitration

The following documents, received today, have been forwarded for your
immediate attention:

 Letter from Berman, Gaufin, Tomsic, Savage & Campbell to Enron Capital &
Trade Resources Corp.
 re:  Crown/MCN Arbitration

PLEASE ADVISE IF NOT RECEIVED WITHIN 1 BUSINESS DAY.

Thank you !!

Gay Arnold
Enron Litigation Unit, EB 4829
(713) 853-6612
(713) 853-6576 (fax)
Gay.Arnold@enron.com


---------------------- Forwarded by Elizabeth Sager/HOU/ECT on 01/10/2000
02:18 PM ---------------------------

Chris Gaffney

01/04/2000 10:24 AM

To: Elizabeth Sager/HOU/ECT@ECT, Fred Cohagan/HOU/ECT@ECT
cc: Daniel Allegretti/HOU/EES@EES
Subject: Per your request

Attached are the final documents on the UI deal.  Upon receipt of original
execution pages we will be preparing closing books containing all of the
documents. Dan Allegretti is compiling the relevant regulatory materials
which will be required to administer this deal on an ongoing basis.

CJG
---------------------- Forwarded by Chris Gaffney/HOU/ECT on 01/04/2000 10:19
AM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "NELLIE NIEVES" <NNIEVES@LLGM.COM>                           12/29/99
03:04 PM

To: Chris Gaffney/HOU/ECT@ECT, James B Fallon/HOU/ECT@ECT
cc:
Subject: Per your request

Chris:

    I hope these come through OK.  Have a happy New Year.

 - #281430 v19 - PPA Entitlements Transfer Agreement.wpd
 - #315918 v8 - LOOK FORWARD NUCLEAR AGREEMENT.wpd
 - #316115 v5 - LETTER AGREEMENT TO UI AND ENRON.wpd
 - #316814 v2 - Side letter re RESCO.wpd
 - #439609 v12 - WPSA Current.doc


TO:         Interested Industry Participants
FROM:   Rae McQuade, Executive Director
RE:     Meeting Agenda for Industry Meeting to be held April 17, 2000
DATE:       April 7, 2000

To follow up on the meeting held on February 14 regarding the industry
support for an organization whose role would be to develop wholesale and
retail energy standards, two additional public meetings will be held.  These
meetings are public and any interested industry participant is invited to
attend.  This meeting agenda is attached in .pdf format.  You may already
have received the meeting announcement from our office.

Scope is the topic of this meeting.  Once again, the Department of Energy has
graciously offered its facilities for the meeting site.  The meeting
specifics are below:

WHERE:  Department of Energy
            Forrestal Building
            1000 Independence Avenue, SW
            Washington, DC 20585

WHEN:       Monday, April 17
            1:00 p.m.  to  6:00 p.m.

Work papers for this meeting can be forwarded to the GISB office by April 12
in electronic format (gisb@aol.com).  The work papers should address items
that should or should not be included within the scope of an organization
whose role would be to develop wholesale and retail energy standards.  The
work papers will be posted on the home page (www.gisb.org) and emailed to all
participants on April 13.

The Department of Energy has security procedures for visitors, so those
intending to attend the meeting should notify the GISB office (gisb@aol.com)
by Wednesday, April 12 and provide the following information:
? Name of Attendee
? Company Represented
? Phone Number
? Email Address
? Fax Number
? Country of Citizenship
An attendance list will be provided to the Department of Energy to facilitate
the sign in procedures.

Governance including industry segments and voting is the topic of a
subsequent meeting, scheduled for April 26 from 1:00 p.m. to 6:00 p.m. at the
Federal Energy Regulatory Commission Building, 888 1st Street NE,
Washington, D.C.  The meeting announcement and agenda for April 26 will be
made available shortly.

Please feel free to call the GISB office should you have any questions or
comments.  We look forward to seeing you at this industry meeting.

Best Regards,
Rae McQuade

 - agenda.pdf


Bob:   I am still wonderring why the external modems my group had were
removed.  It seems like I am always having to order modems and accessories
every time we move anyone.  Since we are getting ready to move again, maybe
we should get an inventory of everything each logistic's person has at their
workstation, and this is what should be moved.


Please plan to attend a discussion on the above mentioned topic:

		Friday, February 8 - 9:30 - 10:30a, ECN - 1336

Please contact Lorraine if you are unable to attend.

Thanks in advance,

adr

Audrey D. Robertson
Transwestern Pipeline Company
email address:  audrey.robertson@enron.com
(713) 853-5849
(713) 646-2551 Fax


As you may know by now, I will not be returning to Houston.  Cindy Justice
will be managing the recruitment for Anderson, you can contact her on X57339
if you have any questions.

I have made the following arrangements for Fall:

4th October 2000:

Corporate Presentation
Time: 4:00-6:00pm
Entrepreneurs Hall, Room C201

27 October 2000:

First Round Interviews
Time: 8.30 am-5:30 pm
Entrepreneurs Hall, Room C201
6 rooms booked

28th October 2000:

Second Round Interviews
(Check with program)
Time: 8:30am-5.30pm
Venue to be arranged

31 January 2001

First Round Interviews for summer program
Entrepreneurs Hall, Room C201
6 rooms booked

Good luck for the next season.  It was great to work with you.

Regards,

Anne-Marie


Marilyn,

In reviewing our dealtest documentation, we noted one additional deal that
was a desk to desk deal.  Please provide the requested documentation (i.e.,
deal ticket, curve, new deals report) for deal 559093.  If this deal is a
desk to desk deal, please let me know and I will select a replacement deal.

Thank you for all your help.  If you have any questions, please call me at
X6-6269.

Jennifer
*******************Internet Email Confidentiality Footer*******************

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


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 05/08/2000
04:59 PM ---------------------------

	From:  Paige B Grumulaitis                           05/04/2000 06:45 PM

To: Vince J Kaminski/HOU/ECT@ECT
cc: Ron Baker/Corp/Enron@ENRON
Subject: 133 - effectiveness

We wanted to catch up with you on where you are on ideas for testing.  Also,
I think we will need to get testing N America power and gas hedges on genco
as fast as possible.


Does this mean we are gainfully employed? More important, are you a single
occupant or do you have to live with thousands?  How about those test
scores?   Finally,  the love life?

Take care,
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


FYI---I changed points on this deal from PGTT-TECO Waha 18002800 to PGTT-TECO
Katy 20606100 for the 2nd.  Let me know if you don't agree with this.  The
supply, Duke Field Svs, was originally trying to deliver to HPL at Midtex,
this deal #589257 was also changed to meter 20606100.

Thanks,
Mark


Hi Elizabeth,

How are you ? Things are fine here except very busy. I am ready for the
weekend - I am going to Mississippi to see my family and relax!

I just wanted to pass on our new definition of PJM Capacity Credits which
Dede worked on with our PJM marketer. I got a another definition from
Exelon who said that they had stolen it from Enron.(!)  Dede seems to think
this one is better and more current so here it is:

(See attached file: Capacity Credit Definition (8.29.01).doc)

We are going to start adding it as a definition under the EEI with
counterparties with whom we trade this product.

S

 - Capacity Credit Definition (8.29.01).doc


All,

      Here is the information on the blue jean shirts.  The exact price is
as follows:

M - XL         $22.65
XXL             $23.90
XXXL           $25.15

Please turn in your money to me as soon as possible.  The total for all the
shirts we have ordered is $551.  I have already made arrangements to pay for
half up front, due to such a high dollar order.

Pass the word on to those not on e-mail (Evelyn Morris, Evelyn Jackson, Nina
Nazir-ud-Din, Pamela Watts, Annette Richardson, Georgia Gillum, Danise
Johnson, Jackie Stewart, Marylyn Green, Ethel Ford, Cheryl Sumbler, and
Cheryl Curry). We need to try and have the money by Powertime on Wednesday.
If you need an accomodation, please let me know.

If you know of anyone else wanting a shirt, please get with me as soon as
possible.  I thought maybe the following might want a shirt (Rev Jacque,
Bobbie Poledore, Katherine Dailey, Valerie Piper).  It would be nice if all
women had one.

Also, thank Joe Stewart when you see him, for making all the arrangements
for us.

Thanks,
Denise


[IMAGE]	     [IMAGE][IMAGE]
     		  [IMAGE]    Dear Daren,   iWon really DOES need you, and we're willing to do just about anything to get your attention - even if it means shocking you a little!   Come back to iWon today, Daren, and we'll give you 1,000 FREE bonus entries! Click here.      After all, we've already tried just about everything else: new features, improved search technology, special prizes? But this time, we've got something that we just know is going to work!   Think about it, it takes most iWon users days and days to rack up that many free chances to win.  But you'll get 1,000 entries just by clicking on the link below - how easy is that!   [IMAGE]          [IMAGE]    It's a great way to make up for lost time, and probably the easiest opportunity you'll ever have for chances to win one of this month's 100 new $1,000 prizes, plus a chance at our $25 Million Grand Prize!   So what are you waiting for? Come back and check out iWon today!   Thanks- Bill, Jonas & the iWon Team
			          P.S. FORGOT YOUR MEMBER NAME? It is: Jdaren FORGOT YOUR iWON PASSWORD?  Click here!    You received this email because when you registered at iWon you agreed to receive email from us. To unsubscribe from one or more email categories, please click below. Please note, changes may take up to two weeks to process. If you're not signed in, you will need to do so before you can update your profile. click here!    You will notice entries have been credited by checking your Monthly and Annual entry counter totals at the top of iWon pages. You must be logged in to receive your 1000 entries. (If you click on the link and are not signed in to your iWon account, simply sign in and then click on the 1000 bonus entry link again.) Once you are credited with the 1000 bonus entries or are determined not to be eligible to receive the entries, the link will not work. Bonus entries will not allow you to exceed the monthly or annual entry maximum. Offer expires 06/30/01.


Looks like there might be hope of me leaving sometime tonight.  I'm hoping
for around 9-9:30.  I'll page you before I leave.


Andrew -
My login name is "ksymes" and my password is "kajt8kajt." Thank you so much
for your attention to this problem.

Kate

Michael Tully
04/23/2001 12:22 PM
To: Kate Symes/PDX/ECT@ECT
cc: david.poston@enron.com

Subject: CAPS Problems

Andrew Hawthorn just called me about your access denied errors that you are
getting through Term Server. He would like for you to e-mail him your login
username and password so that he may correct this issue.

Mike Tully


Dear Neil,

Sorry you two missed each other last night.  How would 10:30 a.m. on
Wednesday, December 13 work for you and Paul?  I have pencilled it on Jeff's
calendar at that time.  I'll hold it until I hear otherwise.  Thank you.

Regards,
Sherri Sera
Assistant to Jeff Skilling
713.853.5984
713.646.8381 (fax)
sherri.sera@enron.com

Neil Kelley <NKelley@TQCap.com> on 12/07/2000 01:35:45 PM
To: "'Jeff.Skilling@enron.com'" <Jeff.Skilling@enron.com>
cc:

Subject: RE: Genesis Park

Thanks for the reply Sherri.  I missed Jeff last night at Paul's so we
didn't get a chance to talk.  Paul and I would appreciate the opportunity to
set up a meeting before the holidays.  I know it's going to be tough given
everyone's tight schedules, but please find below some dates that work for
Paul and me:

Dec 11 afternoon; Dec 12 afternoon; Dec 13 10:30-2:00; Dec 15 afternoon; Dec
18/19/21 all day

Please let me know if any of these dates work so we can set a firm time.  If
Jeff wants to combine with lunch, that would be great too.  Thanks/Neil.

-----Original Message-----
From: Jeff.Skilling@enron.com [mailto:Jeff.Skilling@enron.com]
Sent: Wednesday, December 06, 2000 10:50 AM
To: Neil Kelley
Subject: Re: Genesis Park

Dear Neil,

Jeff asked me to let you know that he will be at Paul Hobby's open house
this evening and hopes to see you there to discuss Genesis Park and Vitol.
In the event you two do not cross paths there, please let me know and we'll
see what we can do to schedule a meeting before the end of the year.

Regards,
Sherri Sera
Assistant to Jeff Skilling
713.853.5984
713.646.8381 (fax)
sherri.sera@enron.com

Neil Kelley <NKelley@TQCap.com> on 12/01/2000 02:51:21 PM

To:   "Jeff Skilling (E-mail)" <jeff.skilling@enron.com>
cc:

Subject:  Genesis Park

Jeff, I've been meaning to corner you at one of the YPO functions to spend
a
minute discussing a couple of topics.  First and foremost, I wanted to
introduce Genesis Park which is a "new economy" investment company that's
been recently founded here in Houston by Paul Hobby, Fred Lummis, Steve
Gibson, Peter Shaper, Bruce Herzog and myself.  Paul and I were hoping to
have an opportunity to spend 30 minutes with you in the next few weeks to
describe in person what we're all about.  And to be clear, we're not
looking
for Enron money, we are raising money from private individuals.  We've
already met with Jay Fitzgerald and Steve Horn to establish the
Enron/Genesis business relationship.

I also wanted to get your views on Enron's approach to oil trading and
whether the Vitol Group presented an opportunity.  Frankly, I think Vitol
is
an excellent acquisition target although the success they've enjoyed in the
last year or two will make it a bit more difficult.  They have an
unbelievable franchise, but they also have some fundamental weaknesses
which
could be exploited to Enron's benefit.  I'm shooting in the dark here but
hopefully it's worth some discussion.

If you can free some time during this busy holiday period to meet, it would
be greatly appreciated.  Paul and I could come to your office, or possibly
you could come to our "offices" over on Hermann Park.  We're buying 17
acres
on Hermann Park adjacent to the Park Lane Towers which we plan to develop
into a technology park.  For the time being, we are officing in a high tech
shed on the property!

Please let me know.  Thanks/Neil.


ICE VOLUMES

Energy  Firm Load Peak  Firm Load Peak  Firm Load Peak  Firm Load Peak
Delivery Pt. Mid-C   Palo Verde  SP-15   COB
Term  Apr-01   Apr-01   Next Day  Apr-01
Avg. Price 303.00   257.00   340.00   310.00
Total MW 10,000 MWhs  10,000 MWhs  1,200 MWhs  10,000 MWhs


ok you can have half


-----Original Message-----
From: 	Whitt, Mark
Sent:	Wednesday, October 24, 2001 1:56 PM
To:	Lucci, Paul T.; Harrison, Tyrell
Subject:	FW: To Brighten Your Day

 -----Original Message-----
From: 	Appling, Mike  [mailto:mappling@chematch.com]
Sent:	Friday, August 17, 2001 2:53 PM
To:	Arthur Carpentier (E-mail) ; Brett Treadwell (E-mail) ; Brian Cannell (E-mail) ; David Zaozirny (E-mail) ; 'Diane Appling (E-mail) ; Dwayne Hyzak (E-mail) ; George Appling (E-mail) ; Jeff Sproull (E-mail) ; Jeff Thomas (E-mail 2) ; Jerry Jernigan (E-mail) ; Jes Morris (E-mail) ; John Carr (E-mail) ; Kelly Boston (E-mail) ; Mark Whitt (E-mail) ; Perry, Mike (E-mail) ; 'Randy Hairr ' (E-mail) ; Stephen Bender (E-mail) ; Steven Jernigan (E-mail) ; Steven Wolf (E-mail) ; Todd Quattlebaum (E-mail 2) ; Wade Sanders (E-mail) ; William evans (E-mail)
Subject:	FW: To Brighten Your Day

>  -----Original Message-----
> From: 	Cook, Fred
> Sent:	Friday, August 17, 2001 8:19 AM
> To:	Appling, Mike; Creasman, Scott; McAfee, Larry
> Subject:	To Brighten Your Day
>
>
>
>
> One night a guy takes his girlfriend home. As they are about to kiss each
> other goodnight, the guy starts feeling a little horny. With an air of
> confidence, he leans with his hand against the wall and, smiling, he says
> to
> her "Darling, would you give me a blowjob?"
>
> Horrified, she replies "Are you mad? My parents will see us!"
>
> "Oh come on! Who's gonna see us at this hour?"
>
> "No, please. Can you imagine if we get caught?"
>
> Horny as hell he says, "Oh please, please, I love you so much!"
>
> "No, no, and no. I love you too, but I just can't!"
>
> "Oh yes you can. Please?"
>
> Out of the blue, the light on the stairs goes on, and the girl's little
> sister shows up in her pajamas, and in a sleepy voice she says:
>
> "Dad says to go ahead and give him a blowjob. Otherwise I can do it. Or if
>
> need be, Dad says he can come down himself and do it. But for God's sake
> tell the asshole to take his fucking hand off the intercom!"
>
>
>
>


Dan, it will have to wait - I will be back in early January.

Regards
Delainey


shoot, we're going to see Tom and Karen on Saturday.

	Nancy Sellers <Nancy.Sellers@RobertMondavi.com>
	05/10/2001 10:26 AM

		 To: "'Jeff Dasovich'" <Jeff_Dasovich@enron.com>, "Prentice @ Berkeley"
<PSellers@haas.berkeley.edu>, Prentice Sellers <PSellers@pacbell.net>
		 cc:
		 Subject: Forgot

Dad is playing in a concert Saturday night - would you like to go?

Nancy
(707) 251-4870 (phone)
(707) 265-5446 (fax)
"Plus je bois, mieux je chante"


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

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

Crude     http://www.carrfut.com/research/Energy1/crude23.pdf
Natural Gas     http://www.carrfut.com/research/Energy1/ngas23.pdf
Distillate     http://www.carrfut.com/research/Energy1/hoil23.pdf
Unleaded     http://www.carrfut.com/research/Energy1/unlded23.pdf

Dec WTI/Brent Spread
http://www.carrfut.com/research/Energy1/clz-qoz.pdf
Dec Heat Crack     http://www.carrfut.com/research/Energy1/heatcrack.pdf
Dec Gas Crack     http://www.carrfut.com/research/Energy1/gascrack.pdf
Dec/May Heat Spread     http://www.carrfut.com/research/Energy1/hoz-hok.pdf
Jan/Feb Heat Spread     http://www.carrfut.com/research/Energy1/hof-hog.pdf
Nov Gas/Heat Spread     http://www.carrfut.com/research/Energy1/hux-hox.pdf
Dec Gas/Heat Spread     http://www.carrfut.com/research/Energy1/huz-hoz.pdf
Nov/Mar Unlead Spread
http://www.carrfut.com/research/Energy1/hux-huh.pdf

Nat Gas Strip Matrix
http://www.carrfut.com/research/Energy1/StripmatrixNG23.pdf
Nat Gas Spread Matrix
http://www.carrfut.com/research/Energy1/SpreadmatrixNG23.pdf

Crude and Products Spread Matrix
http://www.carrfut.com/research/Energy1/SpreadmatrixCL23.pdf

Scott Oblander
312-762-1015
312-762-1014 fax
Carr Futures
150 S. Wacker
Suite 1500
Chicago, IL 60606


I am pleased to announce that iBuyit Payables has been activated for all organizations supported by Houston Accounts Payable.  iBuyit Payables is an innovative tool that will enable us to code and approve invoices for goods and services online.

Who is impacted?
Beginning today, all coders and approvers of invoices that were previously submitted to Houston Accounts Payable for processing and payment, will code and approve invoices through iBuyit Payables.  Invoices entered directly into SAP, will not be impacted by this process.

Note:  Beginning May 8th, any invoices with coding sheets received by Accounts Payable will be entered into iBuyit Payables and electronically routed back to the coder. The invoice will then need to be coded and approved (again) in iBuyit Payables to generate a payment.

How do I receive training?
Online system demonstrations and quick reference cards are available on the Enron intranet in the Integrated Solutions Center Document Library at <http://sap.enron.com/sap_doclib/user/file_list.asp?cabinet_id=265>.
Note:  You must use the Enron standard Microsoft Internet Explorer to view these materials.

Who do I call for help?
*  For help using the iBuyit Payables system, contact the ISC Call Center at (713) 345-4727.
*  For invoice payment status, contact the Accounts Payable Call Center at (713) 853-7127
 or toll free at (866) AP ENRON, or send an e-mail to iBuyit.payables@enron.com <mailto:iBuyit.payables@enron.com>.

Questions?
For general information about iBuyit, send an e-mail to <mailto:ibuyit@enron.com>.

<Embedded Picture (Metafile)>


Our plan worked.  By telling you two you better hurry cuz otherwise we'd go
ahead, you guys jumped first.  Thanks.  Now all the pressure's off.

Yes, we'll be there on Sunday.

I think the only person who doesn't know is Cameron....

Best,
Jeff

	"Scott Laughlin" <scottwl@hotmail.com>
	05/09/2001 02:52 PM

		 To: Jeff.Dasovich@enron.com
		 cc:
		 Subject: Re:

Thanks, dude, that's really nice. I have no idea what I'm doing at all--just
going with my heart. I struggled between telling people and not, but just
figured I had to tell some. Will you be there Sunday so that I can just
drink and play pool and ease into this? I hope so. And don't forget, you're
next son!

Hope post-school is treating you right.

LATE!

>From: Jeff.Dasovich@enron.com
>To: scottwl@hotmail.com
>Date: Wed, 9 May 2001 12:52:36 -0500
>
>Dude:
>If I don't see you, good luck this weekend, have fun, and congratulations.
>Very cool deal.  And remember, be true.
>
>Best,
>Jeff
>

_________________________________________________________________
Get your FREE download of MSN Explorer at http://explorer.msn.com


Sreve,

12 o'clock will work for me. Any food, except for sushi. I have to leave at
1:00
for the airport.

Vince

Steven Leppard
02/21/2000 04:07 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc: Shirley Crenshaw/HOU/ECT@ECT
Subject: Wednesday lunch with Lane Hughston

Vince

Lane expects Wednesday 12pm will be OK for lunch - he'll meet us here at the
office.  Lane will confirm this later today, and I'll book a local
restaurant.  Have you any food preferences?

Steve


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 04/19/2001
04:25 PM ---------------------------

Pamela Vande Krol Castro <castro@rice.edu> on 04/17/2001 10:28:47 AM
To: (Recipient list suppressed)
cc: werckle@ruf.rice.edu
Subject: final exams

Just a reminder that final exam time for module 6 is almost upon us (April
30 to May 4)!

If you need a slot reserved for your exam please contact Linda Werckle at
713-348-3463 as soon as possible.  Space is filling up quickly and we have
many demands for this period of time.  We want you to have the best time
possible so contact Linda as soon as you know you will be needing a room.

Let me know if you have any questions!

Pamela Castro
MBA Program Associate
Rice University
713-348-6223


Please sign me up.


We've picked up two more diners for La Fogata in San Antonio, Andrea Calo and
Yao Apasu.  Can you call back the restaurant and switch our reservation to
two tables of 8 people, instead of one table of 14.  I think a table of 8
will be more manageable than a table of 16.  Thanks!


---------------------- Forwarded by Kay Mann/Corp/Enron on 06/05/2000 03:47
PM ---------------------------

j.nassos@pecorp.com on 06/01/2000 07:58:22 PM
To: dtauke@winston.com, frederik_aldin@westlb.com, Kay.Mann@enron.com
cc: j.burns@pecorp.com, c.cole@pecorp.com, s.stawasz@pecorp.com,
gregory_spitzer@chicago.kirkland.com

Subject: ABB Transformer Option Agreement

Attached for simultaneous review by West LB and Enron is a draft Assignment
of Option Agreement and a Notice of Exercise of Option prepared by Peoples
Energy's outside counsel, Greg Spitzer at Kirkland & Ellis.

Please direct comments to Greg at (312) 861-2115.
E-mail is   gregory_spitzer@chicago.kirkland.com.

 <<Assignment of Option-1.doc>>  <<Option Exercise -1.doc>>

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

 - Assignment of Option-1.doc
 - Option Exercise -1.doc


Jeff:

I have a dream.  In it you send out an E-Mail:  Will every Enron employee
that has been wronged by Enron let me know.  I will personally see to it that
all wrongs are redressed.

I worked for a big company that at one time abused people working for me.  My
workers called a slow down on me.  My responsibilities could not be fulfilled
with the slow down.  So I told my management  "You helped cause the problem.
So now please help me solve it."  Luckily for me my management agreed.  They
hosted a dinner for my supervisors and representatives of my workers at one
of the best Steak Restaurants in town.  Before, during and after drinks,
steaks, desserts and cigars, we listened and spoke.  Management's words and
body language said  "We agree we wronged you.  We apologize.  We promise to
try our best not to do it again.  Now please let us all get back to work."
Nobody threatened anybody that night, and yet next day I had fully productive
workers.

I have a dream that Enron can do as good, or better.  After all, are we not
the best at just about every thing else?

I refuse to believe that any corporation can be the very best if they do not
right wrongs.

I am very interested at hearing any comments you may have on the subject.

Best Regards,

Nieves G. Soto


Please set this up for Mon morning
----- Forwarded by Richard B Sanders/HOU/ECT on 08/04/2000 10:48 AM -----

	Dale Rasmussen
	08/03/2000 02:22 PM

		 To: Richard B Sanders/HOU/ECT@ECT
		 cc:
		 Subject: Re:

I'm back in the office now.  Is there a time we can talk either later today
or sometime tomorrow?

From: Richard B Sanders on 07/30/2000 10:49 AM CDT
To: Dale Rasmussen/HOU/ECT@ECT
cc:
Subject:

Welcome back. Do we need to set up a meeting to discuss the tortious
interference question we talked about before you left?


David, on point 2, that type of arrangement has to be approved by the Enron
Executive Committee.  Let me know if you want a copy of the note describing
that process, which was sent by Cindy Olson a few weeks ago.    Michelle

David Oxley
05/10/2000 07:27 PM
To: Melissa Laing/LON/ECT@ECT, Michelle Cash/HOU/ECT@ECT, Kimberly
Rizzi/HOU/ECT@ECT
cc:
Subject: Michael L Brown

Spoke with him about his contract on Monday. We agreed following changes and
he would sign;

1 - Should read Michael L Brown throughout
2 - He would us to have Mark F send him a note (separately) that says why we
will rank him as a VP he can continue to use the MD title externally and
maintain any related travel perq's associated with that.
3 - We should change cash sign-on to 12 months pay back.

 Can you get him final asap. Also Kim/Mel lets draft email for Mark F.

David


When do you guys want to talk through this?  Who should be involved?  Can it
wait until Monday when we have our California meeting here in Portland?


Mr. Sorte,

Michael Brown and Janelle Schueur have requested that I forward this
confidentiality agreement to your attention.

Regards,

Kay Mann


You should include VP's and also you should make it a little clearer that I
don't want to be on the schedule unless they have made a decision.


Good Morning Team,

The Orange County Register will eliminate 102 positions of the newspaper's 1,749 full time employees on Friday, as a result of decreased circulation and revenue due to weak advertising compounded by the September attacks.  As of March 31, the Register had a daily circulation of 353,334 and a Sunday circulation of 410,207, with an annual NP consumption of 120,000 MT.
--
Media General reported a 3Q01 loss -- its first quarterly loss in 4 years.  ``The terrorist attacks of September 11th had an immediate impact on our earnings, and they have exacerbated the economic uncertainty that has caused many of our advertisers to remain cautious,'' Chief Executive J. Stewart Bryan III said.  Revenues for 3Q01 were down 4% from the same period in 2000.  Media General's publishing division, which includes the Richmond Times-Dispatch and the Tampa Tribune, had a revenue decrease of  5.4%.
--
Sun Media eliminated 125 more jobs in cost-cutting measures intended to save $10 million annually.  The Quebecor subsidiary - publisher of such major dailies as the Toronto Sun and Le Journal de Montreal - announced it is combining the business operations of its Bowes Publishing division, which produces over 190 weeklies and community dailies, with those of its metropolitan dailies.  As well, it is ending production of its free Toronto commuter daily, FYI Toronto.  The end of FYI Toronto should provide some immediate relief to other Toronto dailies, such as the Toronto Star, and possibly increase demand for Toronto dailies...
October abounds with job cuts and 3Q01 losses... none of this comes as a surprise in light of the bleak ad market and the negative shock of the September attacks.  As a result, many publishers are looking to cut costs to recover from decreased ad revenues.  If you would like more information on a particular publisher, I would be happy to oblige.
Ayesha


I know that , as a result of yesterday's national tragedy, there are many of you  stranded throughout the U.S....Please check with the Enron websites and Travel Agency in the Park( open 24 hours) for information on how best to get home- Please  feel free to utilize all reasonable and safe ways to return home...you will be reimbursed for such efforts. Please also feel free to extend your stays as necessary until you are comfortable returning home. There isn't much more to say about yesterday's events that hasn't already been said - they are tragic beyond an imaginable level...but, the fact that  each of you and your family's are safe is very important to me and many others. This event will be with us for a long time to come, but a sense of normalcy will, in time, return to our business and what we do in Government Affairs..but,in the meantime,  stay safe, enjoy your families, and get home when you can if you are away. Feel free to call me at 281-831-3749 if there is anything at all I can do to help.


hey buddie.  our stock's up (so FERC order ain't so bad?).  w/the lay thing,
Vickie's memo's gotta wait.  You concur.  best,jeff


Looks good.

Errol

Dawn C Kenne@ECT
03/02/2001 04:08 PM
To: Errol McLaughlin/Corp/Enron@ENRON
cc:

Subject: Re: Option Testing

Try these....QS9294 and QS9295

Errol McLaughlin@ENRON
03/02/2001 04:01 PM
To: Dawn C Kenne/HOU/ECT@ECT
cc:

Subject: Re: Option Testing

Sorry Dawn, QS7544 is not correct.  This deal is an option and is booked to
NG-Exotic.  It should be booked to NG-PR-OPT.

Thanks,

Errol

Dawn C Kenne@ECT
03/02/2001 11:09 AM
To: Errol McLaughlin/Corp/Enron@ENRON
cc: Torrey Moorer/HOU/ECT@ECT, Tara Sweitzer/HOU/ECT@ECT, Jeffrey C
Gossett/HOU/ECT@ECT

Subject: Option Testing

Errol, can you look at these deals in tagg stage and let me know if this is
how they are supposed to look?  These are the deals with the option having
NG-PR-OPT, but the swap remaining the same as before.  If everything looks ok
we will put into production this evening.

Let me know...

QS7544 and QS7545

Dawn


everyone - greetings.

the attached letters are drafts for your review and comment.  we'll clean up
the transmittal with letterhead at time of sending.

our intent is to send these two letters to siemens westinghouse asap.

plz respond with comments asap.

regards.  scott.


I can not mention how jealous I am about this trip - but here are some GREAT recommendations -

1)  Indian Springs in Calistoga, which is just on the north side of the wineries.  It has a spa and a huge mineral pool.  Also, the rooms are little bungalows.

2)  A more expensive option - which I havn't tried but comes HIGHLY recommended - Auberge du Soleil.  It has great rooms, a great spa, and great food and wine selection.  In fact, you can go to their we page @ www.aubergedusoleil.com.

You can't go wrong with either one.   Also, a restaurant that has been recommended to me is the Culinary Institute.  It is suppose to be awesome!!

The guys on the gas desk are going to cayman tomarrow - I am very jealous of that too.  Can you tell I need a break??

Let me know what you think of my suggestions -

Eric Strickland <estrickland@mieco.com> on 03/28/2001 10:55:08 AM
To:	"'kim.ward@enron.com'" <kim.ward@enron.com>
cc:
Subject:	napa

i know i mentioned this the other night but i can't remember the answer.
where would you recommend staying in napa for 3 guys.   i would like to go
to sonoma mission inn but these guys have never been to nocal and want to go
to napa.  any suggestions?


I'll be in town.  Let me know the details.  Eric may have trouble.  After the
stunt he pulled Tuesday, the Warden's angry.

Ryan.F.Ruppert@EXXON.sprint.com on 11/05/99 11:01:22 AM
To: Gerald Nemec/HOU/ECT@ECT
cc:
Subject: RE:  underwater demolitions

         Date: November 5, 1999
         From: Ruppert, Ryan F.                            R9RUPPE  - AMERICAS
           To: EXT-GNEMEC(A)ECT.ENRON.COM,                 GNEMECEC - FPEXMAIL
      Subject: RE:  underwater demolitions
------------------------------------------------------------------------------
Gerald,

I don't know if Eric has mentioned it to you or not, but I've been tossing
around the idea of having a couple of the boys over on Saturday evening for a
grill/booze binge.  Are you going to the 'Horns game?  Let me know your
availability.

Submergibly yours,
Ryan

RYAN RUPPERT
Geologist
Europe/CIS Ventures
Exxon Exploration Company
713.935.6171


Thanks! Sorry i'm a little behind with things as I'm working on my slow
laptop from home - on extended sick leave at the moment! Edmund

From: Tana Jones on 17/08/2000 16:16 CDT
To: Edmund Cooper/LON/ECT@ECT
cc: Justin Boyd/LON/ECT@ECT, Lara Fields/LON/ECT@ECT

Subject: Re: Duke

I approved this counterparty with US EOL this morning to trade all coal
including European coal.

	Edmund Cooper
	08/17/2000 04:09 PM

		 To: Lara Fields/LON/ECT@ECT
		 cc: Tana Jones/HOU/ECT@ECT, Justin Boyd/LON/ECT@ECT
		 Subject: Re: Duke

Fine from my perspective.  Tana will let me know (please) if there are any
problems [N.B. this product is currently a physically settled product].
Thanks, Edmund

To: Justin Boyd/LON/ECT@ECT, Edmund Cooper/LON/ECT@ECT
cc: Lee Munden/LON/ECT@ECT, Enron London - EOL Product Control
Group/LON/ECT@ECT

Subject: Duke

Are you two ok with a US company being able to trade European Coal?  They
currently can trade US Coal.

thanks,
Lara
---------------------- Forwarded by Lara Fields/LON/ECT on 17/08/2000 15:08
---------------------------

Lee Munden
17/08/2000 15:04
To: Enron London - EOL Product Control Group/LON/ECT@ECT
cc: Nidia Mendoza/HOU/ECT@ECT, Neil R Anderson/LON/ECT@ECT

Subject: Duke

All

Following a request from Kirt Gengenbach of Duke Energy Merchants LLC to
enable them to access the European coal products via EOL, I can confirm that
Credit approve execute access for these products without collateral and tenor
of 36 months.

Please arrange for them to have access ASAP and let me know when this has
been done as the trader is waiting to do deals ?

Thanks

Lee


Dear?Evening MBA  Student,
?
CITM's next?all-day conference on enabling eBusiness  transformation??will
take place on May 22, 2001 at the Wells Fargo  room..The keynote speaker is
Steve Ellis, EVP, Wells Fargo  Wholesale Internet Solutions Group. Also on
the agenda: J_rgen Lutz,  eProcurement, Bayer AG, and Mark V. Klopp, Managing
Director, Digital  Business Ventures, Eastman Chemical Company, Jeffrey
Kristol, Corp.  Director E-Business Applications, Danzas AEI Corp, Mark E.
Atkins,  President and CEO, Vality Technology, Herbert M. Osher, Vice
President of  Product Marketing, Anysoft, and Dr. Aviva Lev-Ari, former
Director of  Information Analytics, Perot Systems.
?
We can accommodate a?limited number of?Evening MBA students at the special
discount  price of $150instead of the regular  $950; if interested?in
attending  please e-mail?Ana L. Mota at? citm@haas.berkeley.edu. For complete
conference information and registration,? visit  the?CITM's home  page.
?
--  Arie

Arie Segev, Professor and  Director
Fisher Center for? Information  Technology & Market Place Transformation
Haas School of Business
The University of  California
Berkeley, CA 94720-1900
http://haas.berkeley.edu/citm/
Tel: 510-642-4731
Fax: 510-642-2826 (Alternate:  510-642-4700)


Bush Task Force on Energy Worked in Mysterious Ways
The New York Times, 05/16/01

Texaco May Build a Facility to Regassify Liquefied Natural Gas Offshore
Louisiana
The Wall Street Journal, 05/16/01
Enron to drop suit against NGX
Houston Chronicle, 05/16/01

Plots & Ploys
The Wall Street Journal, 05/16/01

THE AMERICAS: Energy worries throw the spotlight on Chilean policy
Financial Times; May 16, 2001

Enron urges more electric power reform
The Yomiuri Shimbun / Daily Yomiuri, 05/16/01

Enron lawsuit deal to broaden indexes
The Globe and Mail, 05/16/01

Saudi Gas Proj MOUs Expected To Be Signed Jun 6 - Sources
Dow Jones Energy Service, 05/16/01

INDIA: Lenders to vote Wed on cancelling Enron India deal-paper.
Reuters English News Service, 05/16/01

India: 2 units of Sharavathy Project commissioned
The Hindu, 05/16/01

India: Dabhol power project
Business Line (The Hindu), 05/16/01

Three members of Godbole committee quit
The Economic Times, 05/16/01

Panel to brief Gokak on Godbole plans on Wed
The Economic Times, 05/16/01

Settle Enron issue amiably: Munde
The Times of India, 05/16/01

Sharavathi power units inaugurated
The Times of India, 05/16/01

Dunham, Lay, Raymond Among Few to Meet With Cheney on Energy
Bloomberg, 05/16/01

National Desk; Section A
Bush Task Force on Energy Worked in Mysterious Ways
By KATHARINE Q. SEELYE

05/16/2001
The New York Times
Page 1, Column 4
c. 2001 New York Times Company

WASHINGTON, May 15 -- The tiny staff of the Bush administration's Energy
Development Task Force is led by two former aides to Senator Frank H.
Murkowski, the Alaska Republican who is the chairman of the Senate Energy
Committee. The aides jokingly call themselves the Alaska jihad.
But Mr. Murkowksi, when asked recently about the role his former aides,
Andrew Lundquist and Karen Knutson, have played in the task force's
much-anticipated report, which will be released on Thursday, replied, ''They
don't tell me anything.''
On the eve of the release of the 170-page report, the broad outlines are
fairly well known. The plan encourages the production of oil, gas, coal and
nuclear power and calls for some tax credits for renewable energy resources
and a push for conservation. But since the task force's work began in
February, most of Washington has remained in the dark about how it operated,
which arguments it embraced and how it reached decisions on some of the
nation's thorniest energy issues.
Individuals from the task force have met with more than 400 people from more
than 150 groups over the last three months. Mr. Lundquist said today that he
could not provide a list of all the groups he had spoken with. ''I can't
really tell you who, because there are hundreds I've met with,'' he said.
Administration officials also said that they wanted to keep private the list
of those they met with to encourage the free flow of ideas. Still, they said
that they had talked with a broad range of interested parties.
In a recent interview, Vice President Dick Cheney said: ''The staff of our
energy task force has spent time with folks from various pieces, parts, of
the industry. We've also spent time with the environmentalists. I spent a lot
of time with members of Congress, listening to them, both parties, on energy.
So the idea that somehow only the energy industry has access just simply
isn't true.''
But last month, two Democrats on Capitol Hill challenged the secrecy of the
process surrounding the task force, which has met eight times in the last 90
days. David S. Addington, counsel to the vice president, responded that it
did not have to provide information about the process because all of the
staff members are federal employees. In addition, environmental groups have
requested documentation about task force meetings under the Freedom of
Information Act, but so far those have been denied.
Democrats and environmentalists say the process was tilted heavily toward the
coal, gas and oil industries and point out that the energy industry is one of
the biggest contributors to political campaigns, giving $64 million last
year, three-fourths of it to Republicans.
Among those who said they felt shut out was the Consumer Federation of
America, the nation's largest consumer-advocacy group. Howard Metzenbaum, a
Democrat and former senator from Ohio who is now chairman of the group, said,
''The energy crisis is first and foremost a price crisis affecting consumers.
''It's an incredible insult to the consumers of this country that, to the
best of my knowledge, none of the consumer organizations were invited to the
meetings or otherwise participated,'' he said.
Juleanna Glover Weiss, Mr. Cheney's spokeswoman, said no invitations were
issued and groups had to request meetings. ''We didn't invite anybody to meet
with us,'' she said.
The leaders of about two dozen environmental groups had asked to see Mr.
Cheney, whose office turned down their requests. Instead, midlevel staff
members from the groups met with Mr. Lundquist and Ms. Knutson.
Alys Campaigne, legislative director of the National Resources Defense
Council, said that that meeting lasted about 40 minutes but that the size of
the group inhibited substantive policy discussion.
''We asked who the deputies were on different issues so we could have more
in-depth conversations, and they wouldn't tell us,'' she said. ''They said,
'Just send us paper, we'll take a look at it.' The meeting felt like window
dressing for us, but they got to check off the box that they consulted with
stake-holders.''
Mr. Lundquist said he viewed his meeting with the environmental groups as ''a
good conversation.''
Some of the industry representatives who did get audiences with the vice
president said the task force's deliberations seemed a mystery to them, too.
John Grasser, a spokesman for the National Mining Association, said: ''We've
probably had as much input as anybody else in town.'' But, he added, ''All we
know is what we read in the paper. This is a tight-lipped process. I have to
take my hats off to them -- they've been able to keep a lid on it.''
Richard S. Shapiro, senior vice president of the Enron Corporation, a major
Republican contributor and the nation's largest trader of wholesale
electricity and natural gas, said top executives from his firm spent half an
hour with Mr. Cheney, but he could not tell how much this may have influenced
the final report.
''Energy issues are a very high priority, and we've had the opportunity to
provide some input into the process,'' Mr. Shapiro said. ''But it's been
difficult to get input in the task force. Other consumer groups have been
weighing in with perspectives. It's not an open-hearing setting.''
Tom Kuhn, head of the Edison Electric Institute, the utility lobbying group,
and a friend of the president's since they were classmates at Yale, saw the
process as relatively open.
''The task force put out the word they were open to input,'' he said in an
interview. He said that his group sent them reports and that some executives
met briefly with Mr. Cheney.
Given all of their interaction with so many groups, Mr. Lundquist denied that
the process had been secretive. ''I don't think that's fair,'' he said.
''There's been no attempt to make it a secret process. All it's been is an
effort to work on and put out good policy.''

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

Texaco May Build a Facility to Regassify Liquefied Natural Gas Offshore
Louisiana
By Alexei Barrionuevo
Staff Reporter of The Wall Street Journal

05/16/2001
The Wall Street Journal
B4
(Copyright (c) 2001, Dow Jones & Company, Inc.)

Texaco Inc., joining a growing list of companies looking at ways to import
more natural gas, said it is considering building a terminal in the Gulf of
Mexico that would regassify liquefied natural gas.
While other companies have looked at building land-based LNG terminals,
Texaco, based in White Plains, N.Y., is considering going offshore. The
facility would be constructed in shallow waters off Louisiana and make use of
Texaco's extensive offshore pipeline system. The system's spare capacity has
grown in recent years as the Gulf of Mexico's natural-gas production has
declined.
Cooling natural gas to a point where it liquefies greatly condenses the gas
and allows it to be shipped by tanker over long distances.
Currently, the U.S. only has four LNG receiving terminals, two of which have
been mothballed for more than 15 years. Until this year, LNG was considered
too expensive for the U.S. market, which relies on LNG for less than 2% of
total natural gas supply.
But with natural-gas prices averaging about twice what they were in 1999, the
owners of the mothballed terminals are bringing them back and a flurry of
companies have announced plans to build new terminals on both the East and
West coasts. The companies include El Paso Corp., Enron Corp., Phillips
Petroleum Co. and Chevron Corp., which has agreed to buy Texaco in a pending
deal.
Texaco is initially considering a terminal designed to process about one
billion cubic feet of gas per day. The facility's capacity could later be
doubled, depending on natural-gas demand in the U.S.
"The U.S. demand for natural gas continues to increase at a significant pace,
demonstrating the need for clean burning fuels for power generation,
industrial fuels and residential markets," said Robert A. Solberg, president
of Texaco's commercial development business unit.
From the proposed Louisiana terminal the natural gas would be fed into
several interstate pipeline systems, as well as the Henry Hub futures pricing
point in south Louisiana, which is operated by Sabine Pipeline Co., a Texaco
subsidiary.
Texaco said the proposed terminal could be up and running in four to five
years. While the company said it is still evaluating the terminal's cost,
other companies have said land-based facilities would each cost about $300
million to $400 million. Texaco expects its feasibility study to be done
within six months.

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

May 16, 2001
Houston Chronicle
Briefs: Houston & state
Enron to drop suit against NGX
Enron Corp. agreed to provide natural-gas pricing information to NGX Canada
and drop a $64.6 million suit against the Canadian gas exchange.
Houston-based Enron sued NGX in November after the Internet exchange, a unit
of the company that owns the Stockholm Stock Exchange, changed providers of
its gas-pricing data and didn't include trades on EnronOnline, Enron's
Internet exchange, when calculating gas-price indexes.
Calgary-based NGX agreed to include EnronOnline trades in its calculation of
its Alberta Gas Price Indices by August, Enron spokesman Eric Thode said.

The Property Report
Plots & Ploys
By Peter Grant

05/16/2001
The Wall Street Journal
B12
(Copyright (c) 2001, Dow Jones & Company, Inc.)

[What's Brewing in the Real Estate Market]
Bright Spot
FUELED BY A STRONG energy sector, the Houston office market is outperforming
the rest of the country. While many cities saw office vacancy rise in the
first quarter, the downtown vacancy rate in Houston dropped to 6.26% from
6.65% at the end of last year, according to CB Richard Ellis.
Expanding companies include Enron Corp., Reliant Resources Inc., Dynegy Inc.
and other energy companies that have been profiting from the deregulation of
the electricity business. Houston also has been benefiting from consolidation
in the oil and gas industry. Giants like Exxon Mobil Corp. and Anadarko
Petroleum Corp., which acquired Union Pacific Resources last year, have
relocated divisions to the city.
Rents in the hottest submarkets are continuing to increase, according to Will
Penland, head of CB's Houston office. "We're at levels we haven't seen since
the late 1970s," he says.
All this is good news for the three developers that have projects underway
downtown. Indeed, Crescent Real Estate Equities has leased over 70% of the
space in 5 Houston Center, a 27-story building that's still more than one
year away from opening. "It's a very good time to be in Houston," says
Crescent chief executive John Goff.
To Sell or Not to Sell
THE SALES MARKET is continuing to slow as the gap widens between asking
prices and what buyers are willing to pay. In the first quarter, about $11.6
billion of property traded hands, down 11% from the same period in 2000,
according to Granite Partners.
Many sellers are choosing to refinance, an option made especially attractive
by declining interest rates. For example, a group led by Emmes & Co. just
refinanced the 21-building Meadows Business Park outside of Baltimore for $40
million after failing to get its price of about $55 million. The three-year
floating rate loan with CDC Mortgage Capital Inc. was brokered by
Insignia/ESG Capital Advisors.
S. Lawrence Davis, an Emmes partner, notes that the $40 million is well in
excess of the $35 million the group invested into the property. "We recognize
at the moment it's not the appropriate time to sell," he says.
Hoop Dreams
IN THE MID-1980s, city officials in Springfield Mass., convinced the Naismith
Basketball Hall of Fame to move to a forlorn riverfront urban renewal site.
But the stores, restaurants and hotels that city officials said would follow
never materialized. "Not a darn thing happened," says Michael Downey,
president of the O'Connell Group, a consultant to the museum.
Despite this history, the Hall is giving Springfield a second chance. Now
rising a short distance from the existing facility is a new, larger Hall of
Fame that's scheduled to open next year. Once again government officials are
promising that numerous other projects will follow.
But this time the museum has reason to be confident. The city and state
agreed to put up $70 million of the project's $109 million cost, after the
museum threatened to move to Orlando, Fla. A new tourist center already is
being built on the site and the Picknelly family, which owns Peter Pan Bus
Lines, is set to break ground soon on a Hilton Garden Inn and Pizzeria Uno
Chicago Bar & Grill.
There's even talk of converting the shuttered 110-year-old county jail on the
site into an aquarium or some other tourist attraction to complement the
Hall. One possibility the locals are joking about: using it as a Hall of
Shame where lousy referees could be incarcerated. "I'm sure there would be a
number of players who would support that," says Thomas McColgan, the city's
economic development director.
Price Reduction
AFTER MONTHS of negotiations, Philadelphia's Berwind Property Group has
signed a binding contract to acquire the Barbizon Hotel from Ian Schrager.
But the price of $96 million is about $4 million less than what was being
discussed at the end of last year, a reflection of the softening sales
market, people with knowledge of the deal say. Berwind plans to add the
306-room property to its Melrose chain of high-end hotels.

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

		THE AMERICAS: Energy worries throw the spotlight on Chilean policy
Financial Times; May 16, 2001
By RAYMOND COLITT and MARK MULLIGAN

		An energy crisis in Brazil and the threat of a capacity shortfall in Chile
has thrown the spotlight on government policy on tariffs and competition, and
drawn pressure from the multinational groups that control private-sector
generation in South America.
		Both cases also highlight the dangers of over-reliance on hydroelectric
generation in countries where rainfall can vary widely year to year.
		Low rainfall in Chile in 1998, for example, deprived the hydraulic plants
that serve the country's populous southern half of melted snow from the
Andes, plunging Santiago and other urban centres into darkness during four
months of rationing. The crisis exacerbated a recession in 1999, when growth
dropped into negative territory for the first time in 16 years.
		Industry leaders warn of a repeat in 2003, unless generators are encouraged
to invest in new thermal plants with tariffs - or node prices - which reflect
the increased costs of natural gas and other combustibles.
		"What we need is more thermal capacity," says Andres Gluski, chief executive
of AES-owned Gener, Chile's second-largest generator and the third-biggest in
the region.
		"If we simply build more hydro plants we end up with the same problem that
Brazil is experiencing at the moment," he said.
		In Brazil, the government is preparing a rationing programme that could force
a 15-20 per cent reduction in consumption over the next few months, and shave
a percentage point from gross domestic product for the year.
		Although drought in the country - which relies on water for 90 per cent of
generation - is blamed for the crisis, industry leaders and experts say lack
of investment by the state, which still controls 80 per cent of capacity, and
the slow pace of privatisation are the main underlying problems.
		"Of course the crisis could have been avoided - it has been in the making for
years," said Mauricio Tolmasquim, energy expert at Federal University in Rio
de Janeiro. He says that while consumption has grown 50 per cent in the past
decade, generating capacity has increased only 35 per cent.
		The government estimates that Brazil needs 25,000MW of new capacity over the
next five years, but companies are holding back on investment because current
tariffs makes new projects unprofitable. Enron, the US energy group, has put
two of its three energy projects on hold.
		"We're in a capital-intensive business, in which the recovery of investment
requires a long period of time," said Alfredo Llorente, president of Enersis,
the Latin American holding company for Endesa of Spain, the region's largest
electricity investor. "Therefore it is essential to know what rules are going
to apply over the long term."
		Despite growth in electricity demand in Chile averaging about 7 per cent
since 1996, there has been little new capacity installed since then.
		Part of the problem stems from heavy investment in cheaper, gas-fired plants
in the mid-1990s by the dominant three generators, encouraged by a new
pipeline from Argentina. This created a surplus of generating capacity, which
contributed to a 40 per cent decline in node prices between 1996 and 1999.
		At the same time, an international credit squeeze began depriving the Chilean
operators of funds for fresh investment, leading eventually to their sale to
the large foreign groups.
		These companies now say that even after a recovery of prices in the last
year, investment in new capacity remains unprofitable.
		One solution is the interconnection of the main Chilean and Argentine grids,
but this will take four to five years.
		Another is the connection of Chile's over-supplied northern grid, fuelled by
two gas pipelines from Argentina, to the more populous southern grid. But
this would not be feasible, said Andres Gluski.
		Copyright: The Financial Times Limited

Enron urges more electric power reform

05/16/2001
The Yomiuri Shimbun / Daily Yomiuri
Copyright (C) 2001 The Yomiuri Shimbun; Source: World Reporter (TM) - Asia
Intelligence Wire

Enron Japan Corp., a Japanese subsidiary of United States energy giant Enron
Corp., published a reform proposal for the Japanese electricity market
Tuesday.
The proposal urged the government to implement the suggested reforms over a
two-year period beginning at the start of 2002, following deregulation of the
Japanese retail electric power market, which began in March this year.
Japan has allowed nonutility companies to supply power to industrial and
commercial users since March.
Enron is seeking to enter the Japanese energy market on a large-scale basis
following the deregulation efforts.
In the reform proposal, Enron Japan argued that the present liberalization of
the electricity market was insufficient by presenting original data showing
that Japanese electricity charges were 46 percent higher than average when
compared with those of other member countries in the Organization of Economic
Cooperation and Development.
Enron's reform proposal includes 10 measures to promote competitiveness in
the Japanese market, such as a separation of conventional power companies'
supply operations from the generation, transmission and distribution of
electricity.
The proposal also contends that conventional power companies are monopolies
that should be prohibited from constructing new electricity-generating
facilities within the areas they currently supply. It also urges the
privatizing of operations for the development of power sources. These measure
are meant to make it easier for those newly entering the business to gain a
competitive foothold.
In March Enron applied for approval from Aomori Prefecture to build a large
thermal power plant in Rokkashomura.
Copyright 2001 The Daily Yomiuri

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

Report on Business: Canadian
Enron lawsuit deal to broaden indexes
DAVID PARKINSON

05/16/2001
The Globe and Mail
Metro
B10
"All material Copyright (c) Bell Globemedia Publishing Inc. and its
licensors. All rights reserved."

CALGARY -- Enron Canada Corp. has dropped its $101-million lawsuit against
on-line natural gas trader NGX Canada Inc. and energy newsletter publisher
Canadian Enerdata Ltd., after reaching an agreement to have Enron's on-line
trading data included in key Alberta gas pricing indexes published by NGX and
Enerdata.
The deal, announced yesterday, will significantly broaden NGX's indexes by
adding trades from North America's biggest on-line trading system,
EnronOnline, to the calculations. It also opens the door for the development
of a "superindex," a single price index using combined trading data from key
on-line trading systems.
"This can be seen as the first step toward that," said Peter Krenkel,
president of Calgary-based NGX, adding that other on-line trading services
have already inquired about having their data included in NGX's indexes.
Enron filed its suit in November, alleging that it suffered "irreparable
harm" when Enerdata sold the rights to its natural gas price indexes to NGX,
which operates the on-line Natural Gas Exchange. NGX changed the method of
calculating the indexes, basing them solely on trades over the Natural Gas
Exchange rather than Enerdata's old survey of a wide variety of market
participants.
Enron, a unit of Enron Corp. of Houston, had argued that the new calculation
method was less neutral and reliable than the old method. The indexes are
used by many natural gas market participants as the basis for prices in gas
hedging contracts.
Rob Milnthorp, president and chief executive officer of Enron Canada, said
the agreement to include EnronOnline's data in the NGX indexes "will provide
industry participants with a more comprehensive source of data and a better
opportunity to manage risk around these price indexes."

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

Saudi Gas Proj MOUs Expected To Be Signed Jun 6 - Sources

05/16/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

DUBAI -(Dow Jones)- Memoranda of understanding between international oil
companies and Saudi Arabia on three gas ventures on offer in the kingdom are
expected to be signed June 6, industry sources told Dow Jones Newswires
Wednesday.
Saudi Arabia's Supreme Petroleum Council met Tuesday and endorsed a final
selection of international oil companies for each of the three projects,
which have been estimated at a combined investment value of $25 billion, the
sources said.
The companies concerned are expected to be notified any time on whether they
have been selected and given about 10 days to respond.
The 11 companies being considered are Royal Dutch/Shell Group (RD), BP PLC
(BP), Exxon Mobil Corp. (XOM), Chevron Corp. (CHV), Total Fina Elf S.A.
(TOT), ENI SpA (E), Enron Corp. (ENE) and Occidental Petroleum Corp. (OXY),
who are bidding jointly, Marathon Oil Canada Inc. (T.M), Conoco Inc. (COCA)
and Phillips Petroleum (P).
Saudi Arabia invited international oil companies in October 1998 to
participate in proposals for downstream gas projects and upstream gas
enhancement.
-By Dyala Sabbagh; Dow Jones Newswires; 9714 3314260;
dyala.sabbagh@dowjones.com -0- 16/05/01 07-07G

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

INDIA: Lenders to vote Wed on cancelling Enron India deal-paper.

05/16/2001
Reuters English News Service
(C) Reuters Limited 2001.

BOMBAY, May 16 (Reuters) - Lenders to U.S.-based Enron Corp's troubled Dabhol
Power Company (DPC) will vote on Wednesday on whether the company should
issue a notice to cancel its contract to sell electricity to India's
Maharashtra state, a business daily said.
The Business Standard said the 25 lenders to DPC will most probably back the
proposal to terminate the agreement, which has spoiled relations between
India and its largest foreign investor and cast a shadow over future foreign
investment in India's power sector.
"It is almost a foregone conclusion that DPC will be asked to issue its
termination notice," the paper said in an unsourced report.
It said that foreign institutions which lent 30 percent of the $2 billion in
debt back such a move.
But Indian lenders, whose loans are not backed by a federal government
guarantee, are likely to vote against the proposal, the newspaper said.
The Industrial Development Bank of India , State Bank of India , Industrial
Finance Corporation of India , Canara Bank and ICICI are the major Indian
lenders.
Enron and India have been sparring for six months over payment defaults by
the Maharashtra State Electricity Board (MSEB) for power purchased from DPC.
DPC, owned 65 percent by Houston-based Enron, is building the world's largest
natural gas-fired power plant on India's western coast. The 740 MW first
phase of the facility began operating in 1999. The plant's generation
capacity will more than triple to 2,184 MW when phase two is completed next
month.
MSEB had agreed in 1995 to buy all the power produced by the plant but has
now reneged on that commitment, sparking concern over the fate of the
project.
Last month the DPC board authorised its management to terminate the contract
to sell power and the lenders' decision on Wednesday could add weight to that
decision.
($1=46.93 Indian rupees).

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

India: 2 units of Sharavathy Project commissioned
Our Staff Correspondent

05/16/2001
The Hindu
Copyright (C) 2001 Kasturi & Sons Ltd (KSL); Source: World Reporter (TM) -
Asia Intelligence Wire

GERUSOPPA (Uttara Kannada Dist), MAY 15. The Chief Minister, Mr. S. M.
Krishna, said here on Tuesday that the Karnataka Power Corporation (KPC), of
which he is the Chairman, had prepared an ambitious plan to add an additional
power of 2000 MW with a total investment of Rs. 10,000 crores in the next
five years to the State Power Grid to meet the increasing demand for power.
Addressing a gathering after dedicating the first two units of the Sharavathy
Tail Race Project with an installed capacity of 60 MW each at Gerusoppa to
the nation, he said the third unit of the project, which formed the final
phase of the power projects in the Sharavathy Valley, was planned to be
commissioned in October and the fourth by the end of March next.
He said the seventh unit of the Raichur Thermal Power Project with an
installed capacity of 210 MW was scheduled to be completed by March 2003.
Similarly, Alamatti Dam Power Project would be ready for commissioning by the
end of 2003.
He said the Vijaynagar Power Project with a capacity of 500 MW, which was
being implemented in the joint sector, would be dedicated to the nation by
2005. The Union and the State governments had given clearance to this
project.
Mr. Krishna said that the Bidadi Gas-based 700 MW Power Project would be
ready for commissioning by the end of 2005. In addition, a barge-mounted
power project in the private sector with an installed capacity of 220 MW, and
the power projects by the Tatas and the Jindal company with capacities of 80
MW and 100 MW respectively were in the offing.
Emphasising the need for working out cost effectiveness of new power projects
before they were taken up to make power affordable for the common people, the
Chief Minister explained the reasons why the previous Congress Government in
which he was the Minister for Power, cancelled the agreement with the
Cogentrix company on a power project.
He said there was criticism when the project was dropped after it was debated
for nearly 14 years. He said the cost effectiveness (of the project) was the
only reason for dropping the proposal which was planned to be handed over to
the Cogentrix company.
Mr. Krishna referred to the predicament of the Maharashtra Government which
now found itself trapped in an agreement on a power project with the Enron
company and said that State (Maharashtra) had found itself in such a
situation that even the Centre could not bail it out.
"We are lucky that we did not get trapped in a similar project with the
Cogentrix. It is difficult to imagine what could have been the position of
the KPC, if we had gone ahead with the agreement with the Cogentrix," he
said.
Mr. Krishna said that it was for the reason of cost effectiveness that the
proposed Alamatti Dam Power Project was handed over to the KPC when the offer
made by TAPCO for its implementation was found to be "extremely costly."
He said that after the TAPCO offered to complete the 290 MW project at a cost
of Rs.1400 crores, the KPC was asked to prepare the plan which it did with an
estimated cost of Rs.700 crores. Immediately after that, the KPC was given
the green signal to prepare the pre-survey of the project.
"If the project (Alamatti Dam Power Project) was handed over to TAPCO, it
could have been profitable" (which he said needed no elaboration), "but it is
the protection of the interest of common people which is of paramount
interest to us. TAPCO may approach the court for the breach of agreement but
we will fight it out there (court) also," he said.

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

India: Dabhol power project

05/16/2001
Business Line (The Hindu)
Copyright (C) 2001 Kasturi & Sons Ltd (KSL); Source: World Reporter (TM) -
Asia Intelligence Wire

This refers to the article 'DPC-MSEB slugfest: Needed, a conciliatory
approach' (Business Line, May 11). The author has tried to defend the Dabhol
project. Unfortunately his claims hold no water for the following reasons:
DPC is not the only IPP among the fast-track projects. The 208 MW Jagrapadu
in Andhra Pradesh (GVK Power) was the first and is doubling capacity.
Spectrum (208 MW) was the second. Enron is the third. ST-CMS in Tamil Nadu is
almost complete. The other fast-track projects - Cogentrix, Hinduja Power and
Bhadravati Power (L. N. Mittal) - are languishing. However, in terms of
project cost, fixed-charge payments and the total tariff, DPC stands tall.
Several IPPs have come up successfully without counter-guarantees: GMR, PPN,
Balaji and South India Viscose in Tamil Nadu; and Paguthan and GIPCO in
Gujarat. Some are under development and their problems are not FDI, equity or
debt, but the non-availability of the escrow - a result of bad management by
the States.
Similarly, a number of LNG projects is in the pipeline. If permitted, they
could go on-stream in good time. Let us remember that Enron LNG has a
sovereign guarantee and a very high return on equity and is protected by a
power purchase agreement (PPA) that will use only half its capacity. However,
Enron will recover its entire cost in that 50 per cent utilisation. Enron's
LNG terminal will perhaps make the highest profits in the world. LNG projects
are feasible all along the coast and the Enron project could even be sold to
an outsider.
The cancellation of the Enron PPA will result in a huge liabilities to be
paid by the people of Maharashtra as a result of the follies of their
political leaders.
The project can be sold to international buyers at a reasonable price and the
loss, if any, absorbed by the people of Maharashtra who might be ready to pay
an Enron Cess over the next 20 years.
Now let us come to the number-crunching. At Rs 87.50 a month fixed cost, the
net present value of the fixed cost of DPC- I over 15 years works out to (at
15 per cent per annum) Rs 6,252 crore. For 740 MW, this works out to Rs 8.45
crore per MW.
At Rs 292 crore, the net present value for the 2,150 MW DPC I and II is (at
15 per cent pa for 15 years) Rs 20,863 crore - Rs 9.70 crore per MW. When DPC
I was 740 MW, the NPV per MW was Rs 8.45 crore. To achieve scales of economy
when the project was expanded to 2,150 MW with an LNG project, the NPV rose
to Rs 9.70 crore. Is there any power project in the country, or the world, at
this cost?
Be it naphtha or LNG, the MSEB is paying for the actual cost of the fuel.
Here too, Enron is making a huge profit - burning naphtha at 1,700 kcal per
unit and claiming reimbursement at 2,000 kcal per unit.
When the fuel cost is reimbursed at actuals the expansion of DPC should have
reduced the fixed cost. On the other hand, it has increased it to over 13 per
cent. Perhaps, the DPC project should be referred to the Guinness Book - for
the highest cost per MW of power. Certainly, nobody would dare beat its
record.
S. Padmanabhan

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

Three members of Godbole committee quit
Our Bureau

05/16/2001
The Economic Times
Copyright (C) 2001 The Economic Times; Source: World Reporter (TM)

MUMBAI
EVEN as efforts to renegotiate the Enron power deal get underway, three
members of the nine-member Madhav Godbole committee have decided to quit.
Former Union energy secretary and Andhra Pradesh Electricity Board member E A
S Sarma, Tata Energy Research Institute director Rajendra Pachauri, and
Indira Gandhi Institute of Developmental Research professor emeritus Kirit
Parikh have -- in separate communications -- informed the government that
they do not have the time to attend the committee's meetings.
The trio was absent from the committee's first meeting with DPC officials
held last week.
The Godbole committee was set up by the Maharashtra government to renegotiate
the deal with Enron.
Pachauri recently had said the state government had not consulted him before
he was named on the renegotiations panel.
The Maharashtra government set up the nine-member committee headed by former
bureaucrat Madhav Godbole on April 30 to renegotiate the controversial power
purchase agreement with the Enron-promoted Dabhol Power Company.
The committee has submitted an interim report and a final one is expected by
May 31.
The members now on the committee -- apart from Madhav Godbole -- are HDFC
chairman Deepak Parekh, state's energy secretary V M Lal, fertiliser
secretary and a representative of the Centre Anil Gokak, state finance
secretary S K Shrivastava and Maharashtra State Electricity Board chairman
Vinay Bansal.
The government said it had chosen Godbole to head the renegotiation team
since he had dealt with every detail of the 2,184-mw Dabhol Power Project.
Godbole was head of the Maharashtra state energy review committee which
recently submitted a report on the Enron project to the state government in
which he had strongly criticised the way the deal was conducted and had
recommended the renegotiation of the power purchase agreement with MSEB.
The state government employee said: "There is no point in reading too many
things in the development. These three members really don't have time. The
committee work will not hamper due to their decision to dissociate."

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

Panel to brief Gokak on Godbole plans on Wed
Our Bureau

05/16/2001
The Economic Times
Copyright (C) 2001 The Economic Times; Source: World Reporter (TM)

NEW DELHI
THE COMMITTEE of joint secretaries, which is working in close co-ordination
with the Enron negotiation committee, will be holding a meeting on Wednesday
to brief the central representative A V Gokak on the Centres views on the
Godbole Committe recommendations.
The group of joint secretaries from concerned ministries like power,
petroleum, finance etc was formed to coordinate and form a consensus on the
Centres view vis-a-vis the recommendations of the Godbole committee and the
renegotiations that have now been initiated between Dabhol Power Corporation
and MSEB.
Gokak was appointed as the Centres representative on the renegotiation
committee. Since the recommendations of the Godbole committee have been taken
as some of the basic requirements and changes that could bring down tariffs,
the Centres stand on this issue will be viewed significantly.
Among the main things to be discussed would be to explore the possibility of
delinking the LNG facility from the power plant.

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

Settle Enron issue amiably: Munde
The Times of India News Service

05/16/2001
The Times of India
Copyright (C) 2001 The Times of India; Source: World Reporter (TM)

PUNE: Former deputy chief minister Gopinath Munde has said that the US power
major Enron's exit from the Dabhol power project could have a negative impact
on investment prospects of the state.
Speaking to reporters here on Monday, Mr Munde said it was imperative to have
an amicable solution on the current impasse on the cost of power supplied by
the Dabhol Power Company.
"A confrontation on the power purchase agreement at such an advanced stage
may send wrong signals to investors," he added.
Asked about the growing financial burden on the state exchequer due to hefty
Enron bills, Mr Munde evaded a concrete reply on the pretext that his party
was not in power in the state at present.
The senior BJP leader minced no words in saying that his party would strongly
oppose any move by the state government to delink the 38 fringe villages from
the Pune Municipal Corporation limits. All the merged villages should stay
within the corporation, he emphasised.
Speaking on the drubbing his party received in the just concluded assembly
elections, Mr Munde said the party leadership had never expected miracles in
Tamil Nadu, West Bengal, Kerala and Pondicherry. "The BJP did have high hopes
in Assam, but unfortunately the popular verdict was not in its favour. The
party would analyse the reasons behind the debacle," he added.

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

Sharavathi power units inaugurated
The Times of India News Service

05/16/2001
The Times of India
Copyright (C) 2001 The Times of India; Source: World Reporter (TM)

KARWAR: Chief Minister S.M. Krishna appealed to the courts of law on Tuesday
to ``speedily dispose of development-related litigation'' as such delays led
to huge cost escalation of infrastructure projects.
Speaking after switching on the 60 MW Units 1 and 2 of the Sharavathi
Tailrace Hydel Power Project at Jyothinagar, Gerusoppa (near Honnavar),
Krishna said that this particular project itself had been delayed by five
years because of the case filed against it in the Supreme Court by
environmentalists. ``The courts heard arguments in the Cogentrix case also
about an year ago, but there has been no judgement. Such delays lead to cost
escalations,'' he contended.
Krishna said plans to add about 200 MW of power every year were on the anvil.
``Gerusoppa units 3 and 4 will produce 60 MW by March 2002 along with the 210
MW Raichur Thermal Power Station (RTPS) unit 7. Almatti project 70 MW unit 1
and 220 MW unit 2 will be commissioned by December 2003. The 500 MW
Vijayanagara thermal power project will be operational by 2005, while the
Bidadi project will produce 700 MW by 2006,'' he outlined.
In the private sector, Krishna said the Tannir Bhavi barge-mounted plant
would produce 220 MW, while Jindal Tractible would supply 100 MW and Tata
Electric 80 MW. ``All these projects will involve an investment of over Rs
10,000 crdore and even after this the state will need more power,'' he
maintained.
Stressing on the need for low cost power, Krishna said the Cogentrix
agreement fell through only because of the ``exhorbitant'' purchase price
quoted by the American company. ``Maharashtra is in the python grip of Enron.
We have avoided this even in the case of the Almatti project, for which the
company, TAPCO had given a cost estimate of Rs 1,400 crore while the
Karnataka Power Corporation quoted only Rs 700 crore,'' he added.
Legislative Assembly and Council Opposition leaders Jagadish Shettar and K.H.
Sreenivas praised the KPC on its pro-active role in providing power to the
state. Karwar MP Margaret Alva and Industries Minister R.V. Deshpande
stressed on the need for improving the living conditions of the project
displaced people.
Meanwhile, Magsasay Awardee K.V. Subbanna of Heggodu rued that the agitation
against the project by environmentalists led by Shivaram Karanth and the
Pejawar Math pontiff had not borne fruit. ``One MW of Gerusoppa power has
eaten away a minimum of 10 hectares of fertile, evergreen forest of the
Sharavathi valley which was once full of medicinal plants and rich
bio-diversity. The KPC should at least take up an afforestation programme to
ensure that sufficient rains fall to fill up the dam and produce power,'' he
added.

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

Dunham, Lay, Raymond Among Few to Meet With Cheney on Energy
2001-05-16 00:01 (New York)

     Washington, May 16 (Bloomberg) -- Archie Dunham, chief
executive of Conoco Inc., told Vice President Dick Cheney that it
was time to stop using unilateral sanctions as a diplomatic weapon
against fuel-rich countries like Libya.
     Enron Corp. Chairman Kenneth Lay said he used his time with
the vice president to talk about how to open power markets.
     And Exxon Mobil Corp. CEO Lee Raymond made the case to Cheney
for reducing federal regulations.
     The three chief executives, all big contributors to President
George W. Bush, were able to make their case to a White House
energy task force at the highest level: Cheney is in charge of it.
And when the task force releases its report tomorrow, many of
their recommendations will be in it.
     No such access to Cheney was available for many others.
Leaders of environmental groups, including the Sierra Club and the
Natural Resources Defense Council, didn't make it onto Cheney's
calendar. Neither did California Governor Gray Davis, a Democrat,
who was told to submit a one-page memo.
     ``They bumped us to staff level,'' said Alys Campaigne,
NRDC's legislative director. ``That there was no outreach to the
CEOs of environmental groups is striking.''
     The task force is recommending a broad basket of ideas to
encourage domestic fuel production, including regulatory changes
that will make it easier to build more refineries, pipelines and
transmission lines; plans to promote more oil and gas exploration;
and tax credits to promote renewable energy sources like wind and
solar power.

                         `All Sides' Heard

     Juleanna Glover Weiss, Cheney's press secretary, says the
idea that the energy task force had a two-tiered system for
getting input is ``nonsense.'' She said Cheney had only about a
half dozen private meetings. ``The vice president has listened
carefully to all sides of the debate,'' she said.
     The administration has spurned congressional and
administrative inquires into whom top officials such as Cheney,
Energy Secretary Spencer Abraham and economic adviser Lawrence
Lindsey met with. To some, the meetings are simply further
evidence of the energy industry ties that both Bush and Cheney
brought to the job, and the support they have received from that
industry during the campaign -- roughly $2.9 million in
contributions, according to the Center for Responsive Politics,
which tracks campaign finance.
     ``Bush came in with goals and assumptions about energy that
played right into the business community,'' said Stu Rothenberg,
editor of the non-partisan Rothenberg Political Report.

                       Supply-Side Arguments

     Those who were willing to talk about their meetings with
Cheney described businesslike, formal sessions.
     Lay said that he discussed ``the whole issue of making
wholesale markets work better,'' a mantra for Enron, the country's
top wholesale power marketer. Cheney made no commitments, Lay
said, but he was sympathetic.  ``He fully understood,'' Lay said.
     Lay raised more than $100,000 for Bush during the campaign.
Enron contributed nearly $2.4 million to candidates, with 72
percent going to Republicans. The company was Bush's tenth-largest
contributor, at $113,800.
     Conoco's Dunham, who also raised more than $100,000 for Bush,
declined to discuss his March 21 talk with Cheney except to say he
expects the vice president will remain opposed to unilateral
sanctions. The issue is a big one for Conoco and other oil and gas
companies unable to tap large holdings abroad because of U.S.
sanctions in places like Libya and Iran.
     Exxon, Vice President Jim Rouse said that he and other
officials met for 30 minutes with Cheney Feb. 8 and 45 minutes
with the task force staff a week later.
     ``We don't want to wear out our welcome,'' he said. ``We had
a story to tell, we told it, that was it.''
     Exxon contributed nearly $1.4 million in campaign
contributions, with about 89 percent going to Republicans.

                  Complaints From Those Left Out

     For those denied access to the highest ranking members of the
task force, the process confirmed fears of being shut out.
     ``The energy industry is in the White House,'' said Anna
Aurilio, legislative director at the U.S. Public Interest Research
Group.
     Steve Maviglio, a spokesman for Davis, said California's
Democratic governor hasn't been allowed any more input than the
other 49 governors. Though the administration has contacted
California Republicans, Maviglio said ``There hasn't been a very
strong link engaging us in terms of the problems.''
     A coalition of environmental leaders from 32 organizations
known as the Green Group requested a meeting with Cheney to no
avail, though they did meet April 18 with Environmental Protection
Agency Administrator Christine Whitman.
     Later, the NRDC, a member of the group, filed formal requests
to learn whom task force members saw. It was denied and the group
is now appealing. Democratic representatives Henry Waxman of
California and John Dingell of Michigan, both members of the House
Energy and Commerce Committee, requested similar information. They
received a reply May 4 that Laura Sheehan, the committee's
Democratic spokeswoman, described as ``inadequate.''
     ``We just want to find out who's influencing them,'' said
NRDC lawyer Sharon Buccino, ``because it isn't us, the
environmental community.''


Per your request the Arcor dash  If we need to schedule a meeting to review
Arcor with you and Dave let Joe or me know.

MFG

Erik Kingshill
06/07/2000 09:50 AM
To: Michael Tribolet@Enron, Michael
Guerriero/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jeff
Kabel/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Don Black/SA/Enron@Enron, Lamar
Frazier/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:

Subject: Final Arcor DASH

RAC has completed the rerun of the probabilistic model and issued the final
DASH on Arcor.  The probablistic return beat the capital price by 13 basis
points.

---------------------- Forwarded by Michael Guerriero/SA/Enron on 11/16/2000
02:56 PM ---------------------------

Erik Kingshill
06/13/2000 02:55 PM
To: Jeff Kabel/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Michael
Guerriero/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Don Black/SA/Enron@Enron
cc: Connie F Estrems/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Diego
Hollweck/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Lamar
Frazier/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Andrea Bertone/SA/Enron@Enron

Subject: Arcor DASH

FYI

All corporate approvals have been received for Arcor.


Vince:

The IT Migration team called and said that they need an email from you
stating that you do not want your lap top "Ghost upped"? (Not sure if this
is the correct term).   They said they were supposed to do this to all
computers during the migration process, but since you requested that
they not do this, then they need an email from you with this request.

You need to send the email to:     Kacee Downey/Enron@EnronXGate

Thanks!

Shirley


Rick: Here's the "draft" Eurelectric report (never saw final, but don't think
it's materially different.)

Would be good if whoever is updating Jim Steffes slides from 29/3 could take
a steer from the issues the report concentrates on, and either endorse/
explain them, or rebut/ disentangle them. Also we should bear in mind theme
of Madrid conferenc is convergence of power and gas markets/ regulation, so
gas market aspects for Western Area will be of partic. interest. Items to
de-emphasise in very short slot available may be workings of PX and NOx
credits trading.

For potential lessons of relevance to Europe, I think Steve should
concentrate on dangers in: decoupling of wholesale and retail market,
attempted upfront guaranteed benefits to smaller consumers, and absence of
adequate demand side, and generation investment, signals.

Alfredo, Teun, Paul and Paul: As mentioned in staff meeting yesterday, would
appreciate your one or two slides each of bullet points on lessons for/
reassurance of irrelevance to (as the case may be!) your markets by end this
week. Steve is away, so Rick and I will take a look at pulling this together
intitially.

---------------------- Forwarded by Peter Styles/LON/ECT on 05/30/2001 03:18
PM ---------------------------

"Sandra James" <Sandra_James@electricity.org.uk> on 04/10/2001 05:15:33 PM
To: <Nailia.Dindarova@enron.com>, <Peter.Styles@enron.com>,

Subject: Fwd: EURELECTRIC mission to the USA : Report

Please see attached a report by EURELECTRIC on their recent study visit to
California.

>  <<Report USA.pdf>>

 - Report USA.pdf


Start Date: 3/30/01; HourAhead hour: 17;  No ancillary schedules awarded.
Variances detected.
Variances detected in Energy Import/Export schedule.
Variances detected in Load schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001033017.txt

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

  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 3/30/01
  TIE_POINT: FCORNR_5_PSUEDO
  INTERCHG_ID: EPMI_CISO_HOKIES
  ENGY_TYPE: NFRM
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 17 / Preferred:  25.00 / Final:  24.97)
  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 3/30/01
  TIE_POINT: PVERDE_5_DEVERS
  INTERCHG_ID: EPMI_CISO_DAWGS
  ENGY_TYPE: FIRM

---- Load Schedule ----
$$$ Variance found in table tblLoads.
     Details: (Hour: 17 / Preferred:  50.53 / Final:  50.27)
  TRANS_TYPE: FINAL
  LOAD_ID: PGE3
  MKT_TYPE: 2
  TRANS_DATE: 3/30/01
  SC_ID: EPMI