United Way Scholars Press Conference, Today at 10:30 AM!!!!
Come see your United Way dollars at work building the workforce of the future!

Please join Jeff Skilling at a press conference today at 10:30 a.m. in Antioch Park to announce The United Way Scholars Program!  Your contribution is helping to provide 50 local high school students with college scholarships and funding for middle and high school technology programs designed to reach thousands of students each year!

USCAA Track & Field Championships, June 9, 2001
The Enron Running Club is seeking runners, sprinters, discus & shot put throwers, high jumpers and long jumpers to compete in the annual USCAA Track & Field Championships on Saturday, June 9th at Rice University.  Participate in co-ed track relays & field events for all ages and abilities; showcase your energy and talents in a challenging, competitive, and fun environment; participate in an Enron tradition since 1994; experience teambuilding and camaraderie like never before!  For more information or to sign up, contact Cindy Richardson at x3-4770 or sprint to:  http://home.enron.com:84/erc/index.html

Dad's Day 5K
Join the Enron Running Club at the Dad's Day 5K and 1 Mile Family Walk benefiting The Prostate Cancer Research and Awareness scheduled for Saturday, June 2nd.  If you're interested in running or volunteering your time, please contact Cindy Richardson at 713-853-4770 or Kelly Lombardi at 713-345-5841.  For more information, run to: http://home.enron.com:84/erc/index.html.

The Caladium plants that are in the huge plant pots throughout the Plaza are going to be replaced and will be available for purchasing TODAY for $4.00 in the Plaza by the up escalator from 11 a.m. to 12 p.m..

Wild@Work Brown Bag: Digging Up the Past:  Archaeology at Armand Bayou
Join Armand Bayou Nature Center Executive Director, Ephriam Dickson, as he explores the prehistoric sites of the Clear Lake area. Discover how archeologists reconstruct past cultures from the artifacts left behind and learn how the first residents of Houston made their living.  [No shovels required.]

When:  Friday, June 8th, 11:30 AM to 12:30 PM
Where:  EB 5C2

Free Opera in the Park featuring Houston Grand Opera's Carmen, June 8-10!
Houston Grand Opera's sensational Multimedia Modular Stage production returns for three FREE performances at Houston's Miller Outdoor Theatre on June 8-10 at 8:30 p.m. Bizet's fiery gypsy Carmen, everybody's favorite femme fatale, ignites the summer in a powerhouse production that had audiences and critics cheering when it was first unveiled in 1998.

Houston Grand Opera's revolutionary Multimedia Modular Stage (MMS), with its giant "live" video screens, hydraulic platforms, and hundreds of rotating, colored lights takes the incredible energy onstage and transports it to the farthest reaches of the outdoor venue with a visceral impact equal to that of a rock concert!

Tickets for the reserved seating will be issued between the hours of 11:30am and 1:00pm through the Miller Theatre box office on the day of the performance.  Any remaining tickets will be issued one hour before the performance.

For additional information, visit HGO's web site at www.houstongrandopera.org. Also see volunteer opportunities below.

JOIN THE VOICES OF ENRON TO EXPAND YOUR COMMUNICATION SKILLS!
MAKE NEW FRIENDS!  EXPAND YOUR HORIZONS! ENHANCE YOUR COMMUNICATION SKILLS!  LOSE THE FEAR OF PUBLIC SPEAKING!  HAVE A GREAT TIME!
Day: Thursdays
Time: 11:30 a.m. - 12:30 p.m.
Location: Enron Building
For more information about The Voices of Enron, contact Melinda Pharms, Vice President, of Education via e-mail at <mpharms@ect.enron.com> or by phone at 713/853-3866 - Internal Extension 33866 or Kathy Willard, Vice President, Membership at kwillar@enron.com <mailto:kwillar@enron.com>, phone No. 713/646-7341 - Internal Extension 67341

Dance for All Ball
No Dance Partner Required!

Saturday, June 9
First United Methodist Church
1320 Main St. at Clay

7-9pm:     Dance Lessons by DanceArts   		 		http://www.danceartsballroom.com
9pm-12:   Dancing! with Live Swing Band. . .Chuck's Trio!

Cover Charge: Minimum $5 Donation
(All Proceeds go towards Building Materials for Red Bird Project which aids the economically disadvantaged & elderly)

FREE CHILDCARE AVAILABLE - Fun kid activities!

For More Info: call 5-6528

Kevin Hannon, Boys & Girls Club board member, invites you to join Enron employee John Cote at a Boys & Girls Club summer camp. John and Kevin are looking for commitments from some dedicated ENRON men & women. SPREAD THE WORD - SPOUSES, FRIENDS & OFFICE COLLEAGUES WELCOME - LAST YEAR'S CAMP WAS A HUGE SUCCESS! Details below:

WHAT: 	2nd Annual Houston Boys and Girls Club Summer Camp Weekend with Enron's incredible volunteers!

WHEN:  	Boys Camp
		Friday afternoon (3:00 - 6:00pm), June 22 through Sunday afternoon, June 24
		--OR--
		Friday afternoon (3:00 - 6:00pm), July 20 through Sunday afternoon, July 22

		Girls Camp
		Friday afternoon (3:00 - 6:00pm), July 6 through Sunday afternoon, July 8
		--OR--
		Friday afternoon (3:00 - 6:00pm), July 13 through Sunday afternoon, July 15

WHERE:	Willis, TX (75 minutes from downtown Houston -- just north of Conroe)

WHO: 	6-8 counselors per camp to chaperone 75 kids (ages 7-16)

HOW: 	Share all sports activities, including canoeing, hiking, fishing, organizing a talent 			show/bonfire/ghost stories, obstacle course, water balloon fights, softball, 				basketball, archery, football, etc.  (Cooking and clean-up covered by the Houston Boys & 		Girls Club staff.)

CONTACT:	John A. Cote at ext. 33830

Volunteers Needed for Bring Your Child to Work Day!

Bring Your Child to Work Day is Friday, June 29

Please email Jennifer Milligan if you are interested in volunteering and indicate your preference in the below activities:

Registration Table
Houston Police Dept / Stranger Danger / Fingerprinting
Outdoor Activities (SPCA pets, Balloon King, kids crafts, etc.)
Business Etiquette class
Business Art (kids' resumes, etc)
Lunch ticket sales/coordination (in Antioch Park)

WANTED! VOLUNTEERS FOR OPERA IN THE PARK

Carmen, June 8-10, 2001 @ 8:30pm nightly
Hermann Park's Miller Outdoor Theatre

Following is a list of volunteer duties to be assigned daily.

- Distribution of Stagebill programs with inserts of subscription forms and surveys one hour before the show begins.
- Distribution of giveaways items such as fans and plastic cups prior to the performance.
- Collection of surveys during intermission.

If interested please contact LaShabriel Keys at 713.546.0283 or lkeys@houstongrandopera.org.  Check-in for volunteers will be at 6:30pm nightly at the Volunteer Information Tent near the Miller Outdoor Theatre stage.

(Volunteers will receive tickets in the reserved seating section for the Carmen performance, free food, a t-shirt and a voucher for any matinee during the upcoming Opera season.)

The Enron Running Club and the Houston Corporate Athletic Association are seeking volunteers to assist at the annual USCAA Track & Field Championships on Saturday, June 9th at Rice University.  There are many volunteer opportunities requiring little or no experience including timers, scoring, lane judges, cheering on athletes and more!  We are looking for employees, families and friends that can contribute a few hours or who are willing to spend the day benefiting a great cause.  If you are interested or would like more information, please contact Kelly Lombardi at x3-8491.

Have News to Share?
To post news or events in Enron In Action, please e-mail your information to EIA@enron.com
no later than 12:00 noon the Thursday prior to the next Monday's mailing.


we did not discuss this before, but I assume that this will be paart of
Project Summer, and wanted to make sure you had this info.  mcs
---------------------- Forwarded by Mark Schroeder/LON/ECT on 21/06/2000
13:46 ---------------------------

Gloria Ogenyi@ENRON_DEVELOPMENT
16/06/2000 22:05
To: Steven J Kean@EES, Richard Shapiro@EES, Mark Schroeder@ECT, Harry
Kingerski@EES
cc:

Subject: Nigerian Barge Project

Hi Steve,

The Nigerian barge project is back on course. We have reached definitive
agreement with the various stakeholders in the Nigerian government without
giving up much. Right now things look very good and we are looking to have
the LC signed by next week.

Regards,
Gloria.


IF-NNG TOK is a derived curve.  It is based off of IF WAHA TX.  That appears
to have moved considerably in the last month.  Shout with any more
questions.  Thanks.
PL


OK - we'll get on the Crude Oil list right away - and I'll touch base with John Nowlan.

I assume that Gas & Power is still an area we will hold off on for now?

Dave

 -----Original Message-----
From: 	Zipper, Andy
Sent:	Monday, May 21, 2001 1:36 PM
To:	Forster, David
Subject:	RE: Companies and Areas

I would like to add Energy Trading

with two subset's:

Gas & Power
Crude Oil and Refined Products

I would particualrly like to talk to every Crude and REfined supply and trading organization out there.


Hi Mark

As promised, please see Justin's mail re new jurisdictions.

Regards

Amita
---------------------- Forwarded by Amita Gosalia/LON/ECT on 12/06/2000 18:34
---------------------------

Justin Boyd
06/06/2000 09:25
To: Mark Taylor/HOU/ECT@ECT
cc: David Forster/Corp/Enron@Enron, Amita Gosalia/LON/ECT@ECT

Subject: MG Metals - Physical Products via EOL

Mark,

In the context of our aim to introduce (physically-settled) base metals via
EOL, I have reviewed MG's existing customer base.  There are a small number
of counterparties from jurisdictions that have not been reviewed from here
and I'd be grateful if you could let me know whether these have been reviewed
by you , and also whether any of these jurisdictions are "restricted"  from a
US perspective.  Many thanks.

J

Chile
Brazil
Peru
Japan
Mexico
China


Mark, Rob Milnthorp has asked me to consider whether there is an artful way
under our Master Agreements that upon certain occurrences we could elevate
our exposure from unsecured to secured, particularly in circumstances where,
for whatever reason, we have not received letters of credit or other
collateral.  My thought is to insert a clause in our Master Agreements in the
nature of a "floating charge".

The problem with this concept is that it may be resisted within the
industry.  For example, certain counterparties, i.e. a financial institution
or a near-financial institution, such as a bank, a brokerage, a trading
institution, etc., would not likely be willing to provide us with security
over their assets.  In general, counterparties will also have concerns with
granting security over their assets, particularly as that security may have
restricting consequences for their treasury/banking relationships and
covenants, and/or on their ability to conduct business, including disposing
of assets which may then require our consent.  In addition, it would likely
be necessary to introduce this concept on a bilateral basis, such that it
would also be binding on us in similar circumstances.  (Counterparties could
go so far as requiring this concept in our Enron Corp. guarantees.)

For example, in the natural gas business in Canada at least, older form
marketing agreements and agreements used by gas aggregators with gas
producers used "reserved dedication" covenants, whereby reserves were
dedicated to a particular contract.  These covenants did not, however, create
security, to avoid the complicating issues addressed above.  To the extent
that the reserves were not available, the marketer/aggregator could have a
claim, on an unsecured basis, for breach of covenant, but was not in a
secured position.  I do not believe we want to go to this type of concept.

However, we may be able to think of some creative way whereby the
counterparty is free to deal with us (and we are free to deal with them) on
an unsecured basis, subject to our standard collateralization requirements,
but also provide that upon the occurrence of a particularly serious event,
such as a Material Adverse Change, a Triggering Event, an Event of Default,
etc., the security automatically takes place.  We would need to consider
whether such a "prospective" security interest could be made to work and be
enforceable.

I have discussed this concept on a preliminary basis with Rob Milnthorp and
Mungo Hardwicke-Brown of the Blake firm to see if we could create a
relatively simple clause to be inserted into our Master Agreements which
artfully deals with this issue.  In essence, the idea would be to get
ourselves in a position of being one step ahead of all of the unsecured
creditors in the event there is an insolvency.

Would you please let me know whether you think this is a worthwhile project
or whether we have considered such a thing in the past in Houston.  As noted
above, the clause would have to be one that could be "sold" to counterparties
and be acceptable to us on a bilateral basis (and that may well not be
possible).  If you believe that it is a worthwhile project, I will continue
to work with Mungo Hardwicke-Brown to see if we can come up with something.
If you do not believe that it is a worthwhile project or have considered this
idea in the past and found it to be unworkable, please let me know, and we
will not work on it further.

Regards,
Peter


please send all price faxes and e-mails to gas daily as soon as possible.
thanks for your help.


Summary Risk Data as of 11/12/2001

Active Financial Deals	     83
Active Physical Positions	     38
P&L  Daily ($thousands)	    305.1
VaR ($thousands)	    138.5

ETS Margin Account Deals	       0

Physical deals modeled in the Caminus Zainet system are deals which have some form of price risk, (i.e. Index to index deals, and anticipated fuel sales) This does not include standard transport or storage agreements.

P&L  Daily:   Daily change in the  mark-to-market (MTM) valuation of all deals being tracked in the Caminus Zainet system.  This includes the origination and changes in value for both the physical and financial sides of hedges, along with any speculative trades and floating unhedged physical positions.

VaR is "Value at Risk":  Enron Corp policy defines this as the maximum expected one day loss on the portfolio given a 95% statistical confidence interval.  This number is currently calculated on the Caminus system using a variance covariance methodology, rather than a Monte Carlo simulation per the Enron Corp policy.

More detailed reports are available from the Caminus Zainet risk management system.  Please call Vince Strohmeyer at 713.853.6701 with any questions you may have.


---------------------- Forwarded by Cynthia Sandherr/Corp/Enron on 07/20/2000
07:30 AM ---------------------------

"Kanner, Marty" <mkanner@kannerandassoc.com> on 07/19/2000 07:09:20 PM
To: "Jane Dunn Cirrincione (E-mail)" <jcirrincione@APPAnet.org>, "Deborah
Sliz (E-mail)" <dsliz@morganmeguire.com>, "Mark Yacker (E-mail)"
<myacker@elcon.org>, "Cynthia Sandherr (E-mail)"
<cynthia.sandherr@enron.com>, "Cynthia Bogorad (E-mail)"
<BogoradC@spiegelmcd.com>, "Gene Peters (E-mail)" <gpeters@epsa.org>
cc:

Subject: FW: RTO/market power discussion document

I sent the following to Andy Black in order to ensure that we also discuss
the RTO/market power issues.  I'll bring copies to the meeting.  Please feel
free to take issue with the language.

Marty Kanner
Kanner and Associates
122 C Street, NW
Suite 500
202-347-6625 - phone
202-347-6605 - fax
www.kannerandassoc.com <http://www.kannerandassoc.com>

-----Original Message-----
From: Kanner, Marty
Sent: Wednesday, July 19, 2000 7:07 PM
To: Andy Black (E-mail)
Cc: Catherine Van Way (E-mail); Curry Hagerty (E-mail); Joe Kelliher
(E-mail); Bob Bolster (E-mail); Ramsen Betfarhad (E-mail); Rick Kessler
(E-mail); Sue Sheridan (E-mail)
Subject: RTO/market power discussion document

Andy -

Thanks again for allowing me to participate in this afternoon's discussion.
As I mentioned, I believe discussions of transmission issues must include
both jurisdictional and RTO.  I understand that the RTO discussion is more
difficult in the absence of paper.  For that reason, I have taken the
liberty of drafting language that I believe mirrors (at least my view) of
one possible construct of RTO Proposal I.

I hope you find this helpful.  I will bring copies to our meeting tomorrow.

 <<rto mp amend for barton discussion.doc>>

Marty Kanner
Kanner and Associates
122 C Street, NW
Suite 500
202-347-6625 - phone
202-347-6605 - fax
www.kannerandassoc.com <http://www.kannerandassoc.com>

 - rto mp amend for barton discussion.doc


It is good for me.

DG    3-9573

	Enron North America Corp.

	From:  Irena D Hogan                           12/14/2000 04:11 PM

To: John Valdes/HOU/ECT@ECT, Kam Keiser/HOU/ECT@ECT, Errol
McLaughlin/Corp/Enron@ENRON, David Baumbach/HOU/ECT@ECT, Darron C
Giron/HOU/ECT@ECT, ECT QA/HOU/ECT@ECT, William Kelly/HOU/ECT@ECT, Greg
Couch/HOU/ECT@ECT
cc:
Subject: Offsite on Friday, February 2

Please reply, letting me know if Friday, February 2 , 2001, is a good day for

 you to be out of the office.  We are in the process for planning a team
building for Risk Management.

Please note, this will be an all day event. I will be waiting for you to all
get back with me.

Thank you,

Irena


Laura:
Attached is a 1 1/2 pager that gives 1) the extensive list of folks who are
in the coalition and 2) the message points that they'll be using in a meeting
that will take place today with Senator Bowen and other stakeholders to
discuss "fixing" AB 1X's prohibition on Direct Access.

Best,
Jeff
---

 - dacoalition.summary.doc


Interesting slide presentation on the state of powerplants, siting and
natural gas in CA

Sue Mara
Enron Corp.
Tel: (415) 782-7802
Fax:(415) 782-7854
----- Forwarded by Susan J Mara/NA/Enron on 05/17/2001 01:44 PM -----

	"Julia Wright" <jwright@s-k-w.com>
	05/17/2001 12:51 PM

		 To: "Marilyn Hawes" <marilyn@ceert.org>, "Kelly Boyd"
<kelly.boyd@asm.ca.gov>, "Karen Edson (E-mail)" <kedson@ns.net>, "Julee
Malinowski-Ball (E-mail)" <jmball@ns.net>, "Joseph Alamo" <jalamo@enron.com>,
"John White (E-mail)" <vjw@cleanpower.org>, "John Rozsa (E-mail)"
<john.rozsa@sen.ca.gov>, "John Redding" <john.redding@gene.ge.com>, "John
Larrea (E-mail)" <john.g.larrea@williams.com>, "John Fistolera"
<johnf@ncpa.com>, "John Fielder (E-mail)" <moravekj@sce.com>, "John Fielder
(E-mail 2)" <fieldejr@sce.com>, "John Bridges (E-mail)"
<bridgesj@epenergy.com>, "Joe Ronan" <joer@calpine.com>, "Joe Lyons (E-mail)"
<joseph.lyons@asm.ca.gov>, "Jim Groninger (E-mail)" <gronijn@texaco.com>,
"Jerry Jordan (E-mail)" <jordan@cmua.org>, "Jeff Dasovich (E-mail)"
<jdasovic@enron.com>, "Jeannie Cain (E-mail)" <jeanne.cain@calchamber.com>,
"Jan Smutny-Jones (E-mail)" <smutny@iepa.com>, "James D. Boyd (E-mail)"
<jim@resources.ca.gov>, "Jack Stewart (E-mail)" <jstewart@cmta.net>, "Jack
Gualco" <jackson_gualco@gualcogroup.com>, "Jack Flanigan (E-mail)"
<jackflanigan@flaniganlaw.com>, "Greg Hardy (E-mail)" <hardygl@texaco.com>,
"Grace Davis" <grace.i.davis@intel.com>, "Gordon McDonald"
<gordon.mcdonald@pacificorp.com>, "Gary Schoonyan" <schoongl@sce.com>, "Gary
Heath (E-mail)" <gheath@eob.ca.gov>, "Evelyn Elsesser (E-mail)"
<eke@aelaw.com>, "Eloy Garcia (E-mail)" <egarcia@ka-pow.com>, "Ed Yates
(E-mail)" <ed@clfp.com>, "Doug Fernley" <fernley.doug@epenergy.com>, "Dorothy
Rothrock (E-mail)" <drothrock@cmta.net>, "Dominic DiMare"
<dominic.dimare@calchamber.com>, "Derek Naten" <derek.naten@roche.com>,
"Denny Samuel (E-mail)" <dsam@chevron.com>, "Dennis Price (E-mail)"
<priced@epenergy.com>, "Denice Cazalet" <dcazalet@apx.com>, "Delbert Fore
(E-mail)" <fore.delbert@epenergy.com>, "Delaney Hunter (E-mail)"
<dhunter@smithandkempton.com>, "Dan Carroll (E-mail)" <dcarroll@dbsr.com>,
"Craig Brown (E-mail)" <brownc2@epenergy.com>, "Cindy Howell"
<chowell@sempra.com>, "Charles Bacchi" <charles.bacchi@asm.ca.gov>,
"Catherine Hackney (E-mail)" <hacknece@sce.com>, "Carolyn McIntyre (E-mail)"
<cmcintyre@sempra.com>, "Brian Kelly (E-mail)" <brian.kelly@sen.ca.gov>, "Bob
Houston (E-mail)" <houstgrp@pacbell.net>, "Bob Foster (E-mail)"
<fosterrg@sce.com>, "Bill Keese (E-mail)" <wkeese@energy.state.ca.us>, "Bill
Dombrowski (E-mail)" <cra@calretailers.com>, "Bill Booth (E-mail)"
<wbooth@booth-law.com>, "Becky Kilbourne (E-mail)" <bakilbourne@calpx.com>,
"Barbara Barkovich (E-mail)" <brbarkovich@earthlink.net>, "Audra Hartmann
(E-mail)" <ath@cpuc.ca.gov>, "Art Carter (E-mail)" <debinorton@aol.com>,
"Anna Ferrera (E-mail)" <anna.ferrera@sen.ca.gov>, "Ann Cohn (E-mail)"
<cohnap@sce.com>, "Allan Lippincott (E-mail)" <alippin@mail.arco.com>, "Aaron
Thomas (E-mail)" <athomas@newenergy.com>
		 cc: "Karen Jarrell (E-mail)" <kjarrell@smurfit.com>, "Karen Koyano"
<kykoyano@calpx.com>, "Karen Lindh" <karen@klindh.com>, "Karen Mills
(E-mail)" <kmills@cfbf.com>, "Kari Harteloo" <klc@aelaw.com>, "Kassandra
Gough (E-mail)" <kgough@calpine.com>, "Kathy Brandenburg"
<katherinebrandenburg@flaniganlaw.com>, "Katie Kaplan" <kaplan@iepa.com>,
"Kay Grosulak" <kgrosulak@sppc.com>, "Keith McCrea (E-mail)"
<kmccrea@sablaw.com>, "Kent G. Smith (E-mail)" <ksmith@energy.state.ca.us>,
"Kent Palmerton" <kent.palmerton@williams.com>, "Kevin Lynch (E-mail 2)"
<diane.glenn@pacificorp.com>, "Kevin Lynch (E-mail)"
<kevin.lynch@pacificorp.com>, "Kevin Smith (E-mail)" <kevins@ncpa.com>, "Kip
Lipper (E-mail)" <kip.lipper@sen.ca.gov>, "Lawrence Lingbloom (E-mail)"
<lawrence.lingbloom@sen.ca.gov>, "Lenny Goldberg (E-mail)" <lga@mother.com>,
"Louis Szablya (E-mail)" <szablyal@epenergy.com>, "Marc Joseph (E-mail)"
<mdjoseph@adamsbroadwell.com>, "Mark Smith" <mark_j_smith@fpl.com>, "Marwan
Masri (E-mail)" <mmasri@energy.state.ca.us>, "Michael Alcantar (E-mail)"
<mpa@aelaw.com>, "Michael Florio (E-mail)" <mflorio@turn.org>, "Mike Kahl
(E-mail)" <mikahl@ka-pow.com>, "Mona Petrochko" <mpetroch@enron.com>, "Pete
Conaty (E-mail)" <pcaceo@pacbell.net>, "Peter Bray (E-mail)"
<pbray@newpower.com>, "Phil Nails (E-mail)" <phil.nails@asm.ca.gov>, "Phil
Stohr (E-mail)" <pstohr@dbsr.com>, "Ralph Cavanagh (E-mail)"
<rcavanagh@nrdc.org>, "Randy Chinn" <randy.chinn@sen.ca.gov>, "Ray Thompson
(E-mail)" <ray.thompson@sen.ca.gov>, "Richard Costigan III ESQ. (E-mail)"
<richard.costigan@asm.ca.gov>, "Richard Counihan (E-mail)"
<counihan@greenmountain.com>, "Richard Mesereau (E-mail)"
<Richard.mesereau@imc.asm.ca.gov>, "Robert Berry" <berry@apx.com>, "Robin
Larson (E-mail)" <rlarson@calso.com>, "Scott Tomashefsky (E-mail)"
<stomashe@energy.state.ca.us>, "Sheryl Carter (E-mail)" <scarter@nrdc.org>,
"Steve Ponder (E-mail)" <steve_ponder@fpl.com>, "Steven M. Pike (E-mail)"
<pikes@epenergy.com>, "Stu Wilson (E-mail)" <swilson@cmua.org>, "Sue Mara
(E-mail)" <smara@enron.com>, "Susan Reeder" <sreeder@sppc.com>, "Terry Winter
(E-mail)" <twinter@calso.com>, "Tim Schmelzer" <tschmelz@energy.state.ca.us>,
"Tommy Ross (E-mail)" <rosst@sce.com>, "Tony Braun" <braun@cmua.org>,
"Victoria Schaefer" <schaefvl@sce.com>
		 Subject: FW: Chairman Keese's presentation

The attached presentation is for today's CESG meeting.

Julia B. Wright
Executive Assistant
Smith, Kempton & Watts
980 Ninth Street, Suite 1560
Sacramento, CA 95814
(916)446-5508
(916)446-1499 Fax
jwright@s-k-w.com

 - CEC Presentation without NOTES.ppt


----- Forwarded by Jeff Dasovich/NA/Enron on 01/25/2001 09:40 AM -----

	Scott Govenar <sgovenar@govadv.com>
	01/24/2001 05:52 PM

		 To: Hedy Govenar <hgovenar@govadv.com>, Mike Day <MDay@GMSSR.com>, Bev
Hansen <bhansen@lhom.com>, Jeff Dasovich <jdasovic@enron.com>, Susan J Mara
<smara@enron.com>, Joseph Alamo <JAlamo@enron.com>, Paul Kaufman
<paul.kaufman@enron.com>, David Parquet <David.Parquet@enron.com>, Rick
Johnson <rick.johnson@enron.com>, Marcie Milner <mmilner@enron.com>, Sandra
McCubbin <Sandra.McCubbin@enron.com>, Tim Belden <Tim.Belden@enron.com>, Rick
Shapiro <rshapiro@enron.com>, Jim Steffes <james.d.steffes@enron.com>, Alan
Comnes <acomnes@enron.com>, Chris Calger <ccalger@enron.com>, Mary Hain
<mary.hain@enron.com>, Joe Hartsoe <Joe.Hartsoe@enron.com>, Donna Fulton
<Donna.Fulton@enron.com>, Steven Kean <Steven.J.Kean@enron.com>, Karen Denne
<kdenne@enron.com>
		 cc:
		 Subject: Rod Wright briefing

Assemblyman Rod Wright held another one of his informal discussions with
generators, IOUs and marketers.  This is what he said:

Assembly Speaker Robert Hertzberg is going to introduce a bill tomorrow
at 11:00 a.m. which will contain many of the same elements in ABX 1,
minus the 5.5.  This will be a more comprehensive bill which will
address arrearage, securitization and include some type of a stop loss
mechanism among other things.  It is unclear whether or not the bill
will be voted on tomorrow or held until Monday, but there will be a
hearing at 2:00 p.m.

SBX 1 will probably be heard tomorrow as well, although it is not clear
what action if any the Senate Energy Committee will take.

There are ongoing discussions about the state creating a transmission
corporation to operate but not own the transmission system.

There are ongoing discussions about allowing DWR to buy existing block
forward contracts, however the courts today issued a stay to prevent SCE
or the PX from taking any actions on the contracts until at least
February 2.

There are ongoing discussions about issuing ratepayer bonds in place of
the full faith and credit of the state which was absent from the DWR
RFB.

Sempra requested that the legislature repeal Utilities Code Section
355.2 which prevents IOUs from buying outside the PX.

Other items which arose today:

We spent the day meeting with legislators regarding expedited siting.
The response was positive, including from Senator Byron Sher who is the
key environmentalist in the legislature.  Our initial focus has been on
the trouble with getting air credits.

Governor Davis held a press conference moments ago where he indicated
that the average bid price for the DWR RFB is 6.9.   I will forward the
press release in the morning.

I have attached a press release from Governor Davis regarding the new
ISO board which includes information on the new members.

http://www.governor.ca.gov/state/govsite/gov_htmlprint.jsp?BV_SessionID=@@@@08
58855136.0980390190@@@@&BV_EngineID=faljlleidkhbemfcfkmchcgi.0&sFilePath=%2fgo
vsite%2fpress_release%2f2001_01%2f20010124_a01024_.html&sTitle=GOVERNOR+DAVIS+
ANNOUNCES+FIRST+MEETING+OF+NEW+ISO+BOARD&sCatTitle=Press+Release&iOID=13102


Forwarded at the request of Joe Hillings:

David: Thanks for the return. Notes of the meeting will be taken and
dispatched. I will also send a copy of your response to the other members of
the Enron WTO Working Group as a fine example of assistance. I think the
meeting of the working group will be to supply general information however,
we will send you the call-in number should you find it convenient to
participate. Best wishes. Joe Hillings

David Merrill@ENRON_DEVELOPMENT
01/05/2000 04:04 AM
To: Lora Sullivan@ENRON, Joe Hillings@ENRON
cc: Terence H Thorn/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Paul Adair@ECT, Mac
McClelland/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT

Subject: Enron WTO/Energy Services Task Force

1.   I am glad to be on the group.   However, I will be in Singapore Jan 13/14
during your Houston meeting.   I can perhaps call in for part of the time on
Friday the 14th
from Singapore ( I will be offsite at a company event).   Please include me
when
you give out the call-in number.

2.   What I can do:   You asked for us to think about associations we could
get involved in this.   There are several.  I have been asked to form an
energy
committee of the Singapore American Chamber of Commerce.   We hope several
US energy companies will join.  The committee will cover all of SE Asia.   So
I could vet this survey and whole ESC concept with them  if you like.    Same
goes for AmCham Thailand and AM Cham Singapore.

3.   The survey.   I have tried my hand at a notional (quick and dirty)
response
to the survey.   It is attached for openers but it is incomplete.   A full
professional
response on all the legal/commercial barriers would require me to pass it by
regulatory affairs, lawyers, commercial, etc. for our region.  Do we need
that?

DM


Pls put on my calendar.

Jim

 -----Original Message-----
From: 	"Jackie Gallagher" <JGallagher@epsa.org>@ENRON
Sent:	Monday, October 29, 2001 2:13 PM
To:	acomnes@enron.com; Hawkins, Bernadette; Nersesian, Carin; Scheuer, Janelle; Hartsoe, Joe; jsteffe@enron.com; Noske, Linda J.; Robertson, Linda; Alvarez, Ray; Shapiro, Richard; Novosel, Sarah; Mara, Susan; Lindberg, Susan; Hoatson, Tom
Cc:	Nicolay, Christi L.; Fulton, Donna; Shelk, John; Cantrell, Rebecca W.
Subject:	November 1st Gas Issues Conference Call-- 3:30 p.m.

MEMORANDUM

TO: Regulatory Affairs Committee
       Gas Issues Working Group

FROM: Jim Steffes, Regulatory Affairs Committee Chair
            John Orr, Gas Issues Working Group Chair
            Julie Simon, Vice President of Policy
            Jack Cashin, Senior Manager of Policy

DATE: October 29, 2001

RE: November 1st Gas Issues Conference Call
      ?3:30 p.m. (EST)

We have scheduled a conference call of the Gas issues Working Group on Thursday, November 1st, at 3:30 p.m. (EST).  To access the call, dial 1-800-937-6563.  Ask for the Jack Cashin/EPSA Call.  An agenda is outlined below.

November 1, 2001 Conference Call Agenda

?October FERC Meetings
   ?Update on responses to El Paso 637 Compliance Technical Conference
    allocation plan (RP00-336, CP01-90)

?FERC Decisions
   ?ALJ decision regarding Transwestern negotiated contracts (RP97-288)
   ?Rehearing denial for natural gas reporting in California (RM01-9)
   ?Kern River Expansion (CP01-106)
   ?Texas Gas Rate Settlement (CP01-31)
   ?Petal Gas Storage pipeline certificate (CP01-69)
   ?ANR Pipeline (Badger) certificate (CP01-79)
   ?Tuscarora Expansion (CP01-153)

?Items Pending FERC Action
   ?Change in Affiliate NOPR due date for comments
   ?NOPR on Allowance of Partial Day Recalls of Released Capacity (RM96-
    1)
   ?Kinder Morgan North Texas Pipeline
   ?Next Call


http://www.hyatt.com/usa/san_diego/hotels/photo_a_sanis.html

here is our new hotel - it is the hyatt islandia

flight number is #1133


Sherrie Flick
2621 Stella Street
Pittsburgh, PA 15203
sflick@frickart.org

To Mr. Ken Lay,

I'm writing to urge you to donate the millions of dollars you made from selling Enron stock before the company declared bankruptcy to funds, such as Enron Employee Transition Fund and REACH, that benefit the company's employees, who lost their retirement savings, and provide relief to low-income consumers in California, who can't afford to pay their energy bills.  Enron and you made millions out of the pocketbooks of California consumers and from the efforts of your employees.

Indeed, while you netted well over a $100 million, many of Enron's employees were financially devastated when the company declared bankruptcy and their retirement plans were wiped out.  And Enron made an astronomical profit during the California energy crisis last year.  As a result, there are thousands of consumers who are unable to pay their basic energy bills and the largest utility in the state is bankrupt.

The New York Times reported that you sold $101 million worth of Enron stock while aggressively urging the company's employees to keep buying it.  Please donate this money to the funds set up to help repair the lives of those Americans hurt by Enron's underhanded dealings.

Sincerely,

Sherrie Flick


---------------------- Forwarded by Kay Mann/Corp/Enron on 04/06/2001 03:27
PM ---------------------------

"Shoemaker, Kent (GEAE)" <kent.shoemaker@ae.ge.com> on 04/06/2001 02:53:20 PM
To: "'Kay.Mann@enron.com'" <Kay.Mann@enron.com>
cc:

Subject: RE: Enron/Delta Turbine Acquisition

Okay.  My exit strategy didn't work and I got these back.  Lee said to ask
you to send to me the Salmon Facility Agreement.  Is this the same as Delta.

Also, what other documents will we have here.  Will there be any override
letters, assignments, consents (other than below)?

Do I have any hope of getting out of the opinion.  What good is an in-house
attorney's opinion anyway.  It may be a stumbling block as we've never given
one before and I don't know how long approval procedures may take.

Are the documents below up to date.

Too fun!!

Kent

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Monday, April 02, 2001 11:10 AM
To: kent.shoemaker@ae.ge.com
Cc: lee.johnson@ss.ps.ge.com
Subject: Enron/Delta Turbine Acquisition

Hi Kent,

I don't know whether Lee has mentioned the Delta Power deal that we are
working on.  We are taking 4 turbines and putting them in an LLC, and
selling some of the interest in the LLC to Delta Power.  Three of the
turbines are turbines formerally known as LV Co Gen turbines, and we are
buying new LM's to replace the ones we are using here.  In any event, Delta
Power is financing the deal, and they have asked that we get GE sign off on
the attached documents.  Therefore, I would be interested in your response
to the attached.

I understand that Lee is in New Orleans today, but I'll send him a copy
anyway.

Thanks,

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 04/02/2001 10:05
AM ---------------------------

"PARKER, Isabel" <isabel.parker@freshfields.com> on 04/01/2001 05:10:38 PM

To:   "Carolyn Campbell (E-mail)" <CCampbell@KSLAW.com>, "John Keffer
      (E-mail)" <JKeffer@KSLAW.com>, "Kay Mann (E-mail)"
      <kay.mann@enron.com>, "Rick Vicens (E-mail)"
      <rvicens@deltapower.com>, "Gregory F. Lang (E-mail)"
      <gregorylang@paulhastings.com>
cc:   "BURKE, Ted (TDB)" <ted.burke@freshfields.com>

Subject:  Enron/Delta Turbine Acquisition

This e-mail is confidential and may well also be legally privileged. If you
have received it in error, you are on notice of its status.  Please notify
us immediately by reply e-mail and then delete this message from your
system.  Please do not copy it or use it for any purposes, or disclose its
contents to any other person:  to do so could be a breach of confidence.
Thank you for your co-operation.  Please contact our
IT Helpdesk on +44 (0) 20 7936 4000 Ext.2000 or email
ITHelp@freshfields.com if you need assistance.

As discussed during our call earlier this afternoon, please find attached
for onward transmission to GE a draft of (i) the GE Consent and Agreement
and (ii) the GE legal opinion.

Kind regards
Isabel

(See attached file: NY003700033.DOC)
(See attached file: NY003699615.DOC)


Attached are cryptic summaries of the current positions.  WPTF, APX, ISO and
IEP are all fairly similar.  Enron is working with those parties to develop a
common proposal.  The "Reform Coalition" (RC) is Hogan, sponsored by Sempra,
with ORA/TURN/UCAN (they are all nuts), Reliant, Southern and WIlliams.
Without the gens, they were going nowhere.  Southern has already left the
coalition.  We and others have put a full court press on to Reliant (the
source of the problem is John Stout in Houston).  The word is that Reliant
will also leave -- we're hoping for a big splash saying both Southern and
Reliant have left.

The other confusing issue is --why Sempra/San Diego G&E?  Terry Winter, ISO
CEO and former officer at SDG&E, says that Sempra thinks nodalism is the only
way to get prices high enough in San Diego to encourage construction of more
power plants.  More power plants, more gas sales.

The first item is a matrix from mid-April laying out all the positions at the
time.  The RC has now introduced a slightly new proposal called "voluntary"
-- the concept being that you may opt for nodal or zonal on a month-by-month
basis.  This had not much support at the meeting at the ISO on May 10 and 11
-- especially since you end up with nodalism anyway.

The next item is a VERY LONG (45 pps) ISO doc -- the ISO proposal is called
zonal forward -- from late April.

I also included APX's "flowgate" model, which has some intriquing
characteristics and which we can support with some slight modifications (it's
very close to what we have proposed, and may be easier to use in a world with
more parallel flows than we have today)

If you want more, more, MORE -- go to the ISO web site (caiso.com) then to
Client Services, then to congestion reform, to see all the gory detail.


Gary is the Exec Director of the Western Power Trading Forum -- one of
Enron's coalitions.  He is often quoted.

Sue Mara
Enron Corp.
Tel: (415) 782-7802
Fax:(415) 782-7854
----- Forwarded by Susan J Mara/NA/Enron on 03/01/2001 08:35 AM -----

	Gary Ackerman <foothill@lmi.net>
	03/01/2001 08:24 AM
	Please respond to foothill

		 To: Bill Ross <billr@calpine.com>, Bob Anderson <Robert_Anderson@apses.com>,
Carolyn Baker <cabaker@duke-energy.com>, CHARLES A MIESSNER
<camiessn@newwestenergy.com>, Corby Gardin <jcgardin@newwestenergy.com>, curt
hatton <curt.hatton@neg.pge.com>, Curtis Kebler
<Curtis_L_Kebler@reliantenergy.com>, Denice Cazalet Purdum <dpurdum@apx.com>,
Greg Blue <gtbl@dynegy.com>, Jack Pigott <jackp@calpine.com>, Janie Mollon
<jsmollon@newwestenergy.com>, "Klemstine, Barbara A(F56661)"
<barbara_klemstine@apses.com>, Nam Nguyen <Nam.Nguyen@powersrc.com>, Randy
Hickok <rjhickok@duke-energy.com>, Rob Lamkin <rllamkin@seiworldwide.com>,
Rob Nichol <rsnichol@newwestenergy.com>, robert berry <berry@apx.com>, Roger
Pelote <roger.pelote@williams.com>, Sue Mara <smara@enron.com>, Jeff Crowe
<jcrowe@apx.com>, George Vaughn <gavaughn@duke-energy.com>, Dan Douglass
<douglass@arterhadden.com>, Dan Douglass <douglass@arterhadden.com>, Lynn
Lednicky <LALE@dynegy.com>, "Richard H. Counihan"
<counihan@greenmountain.com>, Sandra McDonough
<Sandra.McDonough@neg.pge.com>, Dan Pigeon <Dan_Pigeon@transalta.com>, Lynn
Fisher <lfisher@apx.com>, Karen Denne <kdenne@enron.com>, Richard Wheatley
<richard_n_wheatley@reliantenergy.com>, Paula Hall-Collins
<paula.hall-collins@williams.com>, Julie Gentz <julie.gentz@williams.com>,
Kelly Swan <kelly.swan@williams.com>, Joe Ronan <joer@calpine.com>, Tom
Williams <tcwillia@duke-energy.com>, Ed Mosey <efmosey@bpa.gov>, Mike Hansen
<mshansen@bpa.gov>, Jan Mitchell <jan.mitchell@pacificorp.com>, Toni
Amendolia <mozart@pwrteam.com>, Mark Stutz <mark.stutz@xcelenergy.com>, Steve
Roalstad <steve.roalstad@xcelenergy.com>, John Sousa <joso@dynegy.com>, John
Fistolera <johnf@ncpa.com>, Dace Udris <dudris@smud.org>, carol clawson
<carol_clawson@fpl.com>, Al Parsons <alp@ncpa.com>, Bob Low
<Bob_Low@transalta.com>, Bob Reilley <rreilley@coral-energy.com>, Brian
Jobson <bjobson@smud.org>, Dave Nuttall <dn@ui.com>, Duane Nelsen
<dnelsen@gwfpower.com>, Edmond Chang <echang@wapa.gov>, Elaine Walsh
<Elaine@citizenspower.com>, Ken Lackey <Kenneth_Lackey@EdisonMission.com>,
Linda Hamilton <lhamilton@avistaenergy.com>, Mark Tallman
<mark.tallman@pacificorp.com>, "Richard H. Counihan"
<counihan@greenmountain.com>, Sheryl Lambertson <sslambertson@pplmt.com>,
Steve Ponder <steve_ponder@fpl.com>, Tom Breckon <tom@ncpa.com>, "Wolfe, Don
- PGSO-5" <dvwolfe@bpa.gov>, John Marchand <jpmarchand@aep.com>, Mark Ward
<mward@ladwp.com>, "Morrato, Joe" <Joe.Morrato@xemkt.com>
		 cc:
		 Subject: Power producers accused of gouging

Folks,

Here is today's story.  John Howard of the OC REgister called me at 8:30
pm last night for the reaction.  As usual, I was totally off guard, but
the quote didn't fare badly.  I called my insider at the ISO, and she
(is that enough of a clue) told me that this report was discussed in
executive session, but not voted on by the Gov Bd.  The report will be
on the ISO's website today.  The real issue is DMA wants FERC to keep
open the 60-day window, and they are using a simple model (apparently so
described by the ISO in the report) to provide some evidence, however
simplistic, as to why FERC should listen.  Of course, this will do
nothing to help our image.  Get our media people ready.

gba

http://www.ocregister.com/news/california/newgouge00301cci.shtml

OCREGISTER.COM: California newsocregister.com/weather
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Power producers accused of gouging

ELECTRICITY: State's grid managers plan to ask federal officials today to
order refunds of up to $562 million.

March 1, 2001

Related stories:
 Electricity notebook

 Power penalties repeal expected

By KIMBERLY KINDY, JOHN HOWARD and KATE BERRY
The Orange County Register

Power producers overcharged Californians by more than a half-billion dollars
for electricity over a two-month period, according to a study to be released
today by the managers of the state's electricity grid.

During January alone, the cost of nearly two-thirds of all electricity
purchased through the Independent System Operator was found to be
"excessive," the ISO said.

The ISO, the nonprofit agency responsible for buying and selling emergency
power for the state, said it will ask federal officials today to order the
power merchants to grant refunds.

The Federal Energy Regulatory Commission in December found "unjust and
unreasonable" electricity pricing in California, but stopped short of
ordering penalties or refunds. However, the ISO has detailed $562 million in
specific excessive charges and is asking FERC to order refunds, disclose data
about the market and investigate further.

Although California's energy market has been deregulated, FERC has wide
latitude to set price caps if it believes rates are excessive.

"We did some estimates, based upon the availability and other considerations,
of what the electricity should have cost,'' said Anjali Sheffrin, the ISO's
director of market analysis. "We found a big discrepancy."

Power producers said they would forgo extensive comment until the release of
the study. However, Gary Ackerman of the Western Power Trading Forum, which
represents buyers and sellers of energy, said, "The ISO has the right to ask
for this review, (but) the costs were what they are. People were bidding at
the market prices, which are legitimate costs in any electrical market in the
nation."

Accusations of pricing misconduct have swirled around California's energy
crisis, but the ISO's study and its filing with FERC today will represent the
first time an agency has said it has evidence of overcharges and then taken
action to get money returned.

It was unclear late Wednesday who would receive any refunds - the state, the
utilities or individual ratepayers.

The ISO's Department of Market Analysis alleges that price gouging occurred
with as much as $247 million, or 21 percent, of the energy it bought in
December and $315 million, or 63 percent, of the energy it bought in January.

Total energy costs for those two months were more than $11 billion, compared
with $7 billion for all of 1999, Sheffrin said.

"This is a wonderful step for the ISO to take,'' said state Sen. Joe Dunn,
D-Santa Ana, who is on a Senate committee hoping to restructure the
electricity market to prevent market manipulation. "There have been many
accusations, but none of them have chosen to act."

The new ISO study looked at power production, the prevailing market
conditions and the demand for energy and found that the cost of emergency
electricity was far higher than it should have been, Sheffrin said. Further
details of the study are expected to be released today.

Sheffrin said ISO officials have asked the power producers to supply
information that would help them determine whether their estimates are
accurate, but the requests have been denied. The power suppliers filed some
of the documents to FERC, Sheffrin said.

During December and January, power producers had to provide FERC with monthly
reports if their charges to the state exceeded thresholds.

The ISO did not identify the power generators it accuses of improper pricing.
Not including the utilities themselves, the major power suppliers in
California are Reliant Energy Inc. of Houston, Duke Energy of Charlotte,
N.C., Mirant Inc. of Atlanta, Dynegy Inc. of Houston and Calpine Corp. of San
Jose.

Also on Wednesday, Bloomberg News reported that Gov. Gray Davis plans to ask
power generators to accept partial payment for power sold to the state's
cash-strapped utilities.

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		The Orange County Register
		Copyright 2001 The Orange County Register
		Please send comments to ocregister@link.freedom.com


I received a call from Martin Gajewski (612-984-3033) with Cargill Energy. He
would like to make sure that the Master Agreement is the contract of
resolution for terms and conditions of the product. He is specifically
inquiring about paragraph 3F in the Electronic Trading Agreement. He would
like a call back as soon as possible. Is it possible for you to contact him
today?

Thanks,

Matt Motsinger
713-853-5221
EnronOnline Call Center


I know all these people except Susan Lee. Can't believe some of the money
theu are making. Lee must be the one on the Frontline report who look stunned
on the phone when she got a price from someone then said "Oh, that's high"
Hey, where is Viram Budraja

http://www.latimes.com/news/state/20010704/t000055118.html

Sue Mara
Enron Corp.
Tel: (415) 782-7802
Fax:(415) 782-7854


How's Hop-a-long?


Should I safely assume you're content now?

 -----Original Message-----
From: 	Larry.May@enron.com [mailto:Larry.May@enron.com]
Sent:	Monday, November 26, 2001 4:20 PM
To:	Smith, Foster
Subject:	RE:

I got it I'll call you at home tonight

    -----Original Message-----
   From:   "Smith, Foster" <Foster.Smith@ElPaso.com>@ENRON
   Sent:   Monday, November 26, 2001 1:49 PM
   To:     May, Larry
   Subject:

   Trying to get you and Mike together after work for a drink.  I'm running
   out
   of time, and I would think you guys are too?  At least let me know if
   you
   got this.

   ******************************************************************
   This email and any files transmitted with it from the ElPaso
   Corporation are confidential and intended solely for the
   use of the individual or entity to whom they are addressed.
   If you have received this email in error please notify the
   sender.
   ******************************************************************

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

******************************************************************
This email and any files transmitted with it from the ElPaso
Corporation are confidential and intended solely for the
use of the individual or entity to whom they are addressed.
If you have received this email in error please notify the
sender.
******************************************************************


FYI!                       TK

 -----Original Message-----
From: 	Gay, Randall L.
Sent:	Friday, January 04, 2002 8:32 AM
To:	Lohman, TK
Subject:	RE: Compression Gas

tk:  we show we only actually scheduled 125,000 in december.  Richardson is taking the rest in Januaty, so we will be scheduling 21,447 a day jan 5th thru the 31st.  If you have any questions give me a call

Randy

 -----Original Message-----
From: 	Lohman, TK
Sent:	Thursday, January 03, 2002 4:57 PM
To:	Gay, Randall L.
Subject:	FW: Compression Gas

Randy, Stephanie asked me to send this to you.  Is this correct with your records?

TK

 -----Original Message-----
From: 	Mulligan, Amy
Sent:	Thursday, January 03, 2002 10:08 AM
To:	Lohman, TK
Subject:	Compression Gas

For December we should have scheduled 363289 to ECS.

We Scheduled 250000.

Therefore, as of the end of December, we still need to schedule an additional 113289.

So far 15000 was scheduled for 1/2/02 and 11000 will be scheduled for the 3rd.

I did not receive any official numbers this month as to how much we owed ENA for January, so that still needs to be figured out.

I hope this is what you need,
Amy


ok


Transmitted herewith are: (1) a blacklined version  of the Limited Waiver
Agreement showing two non-substantive changes that Phil  Segrest has
requested; and (2) a clean version for execution.
?
Please have your clients execute the clean version.  Then please have:
(1)?Tenaska fax a copy of the?executed agreement to  Clifton Karnei?(254-
750-6393), Pat Long (214-758-1550),  and?me (303-740-9776); and (2) Brazos
fax a copy of the executed agreement  to?Carl Tricoli (713-646-8863), Richard
Sanders (713-646-3393) and me  (303-740-9776).??
?
Thank you for your cooperation.
?
?
 - LIMITED WAIVER AGREEMENT2black.doc
 - LIMITED WAIVER AGREEMENT2clean.doc


Got it.


My only concern is that the Floating Price is the Index for the Determination
Period (which is a month) but the Index is a daily index.  Should we be
taking the average for the month?

Dale Neuner on 01/31/2000 05:10:41 PM
To: Mark E Taylor/HOU/ECT@ECT
cc: Bjorn Hagelmann/HOU/ECT@ECT, Patrick Markey/HOU/ECT@ECT
Subject: US Jet Kero Swap -

Bjorn - as requested.

Mark - we are finished building the Jet Kero product and have all approvals
and uploads. Please offer final review
so that I can release this product:

US Jet Kero Swap Platts GC 54    Apr-Jun00   c/Gl-b

A US Jet Kerosene financial Swap Transaction with Enron North America Corp.
under which the Seller pays a
Floating Price and the Buyer pays the price submitted by Counterparty on the
website (the Fixed Price) in respect
of the Notional Quantity per Determination Period. The Notional Quantity per
Determination Period shall be the
volume submitted by Counterparty on the website. Each calendar month during
the term of the Transaction will
be a Determination Period. The Payment Date(s) will be 5 business days after
the Floating Price is determinable.
The Floating Price shall be the Index for the relevant Determination Period.
The term of the Transaction shall be from the Effective Date of 01 Apr 2000
to the Termination Date of 30 Jun 2000.
The Index for a day shall be the mean of daily official settlement prices
for Jet Kerosene located in the
table "Product Price Assessments" and published under the headings "US Gulf
Coast: Pipeline" and opposite
the caption "Jet/Kero 54" as published in Platt's Oilgram Price Report for
such day.
The price is quoted in cents (US) per unit of measure which will be the
Contractual Currency.
The unit of measure against which the price is quoted shall be gallons and
the volume shown shall be in
total number of Barrels per month.


Will come and talk to you tomorrow and we might need to pull in Ron Matthews and David Roensch for their expertise.

DS

 -----Original Message-----
From: 	Millar, John
Sent:	Tuesday, August 21, 2001 4:31 PM
To:	Schoolcraft, Darrell
Subject:	TW Station 1 Heat Recovery

Daryl,  I thought it may be more efficient to compose my question in an e-mail.

I am developing a project at this station in which the exhaust from the new LM 2500 gas turbine could be used to generate up to 15 megawatts of electricity.  After several weeks of engineering and financial analysis, I am now beginning to market the project to prospective counter-parties including local utilities and cooperatives.

One issue that will certainly be discussed is the risk of the LM 2500 not producing enough exhaust to generate the contracted amounts of electricity.  This could occur because of either mechanical failure or loss of throughput in Transwestern's pipeline.  In the latter case, Transwestern could choose several alternatives to transport reduced volumes of gas to the CA border including reducing the horsepower in some or all stations uniformly or shutting down and bypassing some stations while others run at normal speed.  If I did this deal, naturally, I would want Station 1 to run as much as possible so I would have the exhaust needed to generate the electricity I've sold.  Otherwise I pay penalties.

My question to you is...  if volumes through TW were to decline, say 25% or so below design rate, would it be possible to keep Station 1 going at 100% and cut other stations back or does that just not make any sense?

Come by when you're ready and we'll discuss.

Thanks,

John


Attached is a revised Credit Watch listing as of 4/09/01.   Please note that
there are 12 counterparty additions/revisions to the Watchlist for this week.
If there are any personnel in your group that were not included in this
distribution, please insure that they receive a copy of this report.
To add additional people to this distribution, or if this report has been
sent to you in error, please contact Veronica Espinoza at x6-6002.
For other questions, please contact Bill Bradford at x3-3831, Russell Diamond
at x5-7095, or Brant Reves at x3-9897.


Janet and Ben,

Ben now has signature authority up to $250,000.

Let me know if you have any questions,

Kay


Christie, please tell me you don't have Jeff down for this function.  He will
be returning to Houston Monday afternoon.

Thanks,
Joannie

Christie Patrick@ECT
05/04/2001 10:00 AM
To: mgillis@rice.edu, grwhit@rice.edu, lounghrid@rice.edu, cmiller@rice.edu,
darrett@rice.edu, uecker@rice.edu
cc: ghoshr@rice.edu, ghosei@rice.edu, luigical@rice.edu, pravas@rice.edu,
igbal@rice.edu, Billy Lemmons/Enron@EnronXGate, Traci
Warner/ENRON@enronXgate, Steven J Kean/NA/Enron@Enron, kean@rice.edu, Jeff
Skilling/Corp/Enron@ENRON, Vince J Kaminski/HOU/ECT@ECT, Kenneth
Parkhill/NA/Enron@ENRON, Alhamd Alkhayat/Enron@EnronXGate

Subject: Rice ALP Final Presentation and Post presentation Celebration at
Enron Box at Enron Field

Hi Friends!

The big Rice-ALP final presentation day is almost here:  MONDAY, May 7th,
4pm,    at Enron, 1400 Smith.  Please come to the Enron Lobby and ask for me
or my assistant, Melinda McCarty.

After the presentation, you are cordially invited to dinner and an Astro's
game (vs Phillies)  at the Enron Box at Enron Field.  As participation in the
Enron Box at Enron Field is limited to this special invitation list only,
please confirm your attendance via return eMail, or via voice mail to me at
713-853-6117 ASAP.

We're very excited about the work the Rice ALP team has done and we're all
greatly looking forward to the presentation.

Hope to see everyone Monday!!

Best regards!

--Christie.


Looks like we made a boo-boo.  I'll let you know what I find out.  Thanks.
ii

> -----Original Message-----
> From: Chris Germany [SMTP:Chris.Germany@enron.com]
> Sent: Monday, March 06, 2000 8:39 AM
> To: ingrid.immer@williams.com
> Subject: Demand Charges
>
>
>
> Here are a couple of demand charges I don't understand.  AGL released CES
> some
> ESR (offer #18307) and WSR (offer #18210).  The demand portion of these
> contracts being billed on k#1.3473.  What's up.
>


Steve,

I was able to secure bios on the individuals from Shell for your meeting
tomorrow.

They are attached.

Sally


Look at you trying to bring me out of my shell.  I don't know if I'm really
ready though to meet so many new people.  Remember...I am a shy, retiring
wall-flower.


just good to get away lets plan a hunting trip and take bradley talked to brian rice he bought an electric game caller said cyotes and bobcats go crazy is wounded rabbit sound am going to get one lv dad

Your Message:
 have a safe trip love brad

     -----Original Message-----
    From:   8888915473@archwireless.net@ENRON
    Sent:   Friday, October 19, 2001 12:26 PM
    To:     bmckay@enron.com
    Subject:  Wireless Message

    r at airport searched mothers carry on for 10 min found tweezers

 **********************************************************************
 This e-mail is the property of Enron Corp. and/or its relevant affiliate and may contain confidential and privileged material for the sole use of the intended recipient (s). Any review, use, distribution or disclosure by others is strictly prohibited. I f you are not the intended recipient (or authorized to receive for the recipient), please contact the sender or reply to Enron Corp. at enron.messaging.administration@enron.com and delete all copies of the message. This e-mail (and any attachments heret o) are not intended to be an offer (or an acceptance) and do not create or evidence a binding and


I know you all get sick and tired of people asking you for fund-raising
money, so I promise this will be the only time for me.  (Hopefully it's less
intrusive for you if I ask by e-mail instead of person to person)

 My son's school is participating in the Texas Marathon, which is a
fundraiser held at private schools across the state, where 100% of the
proceeds go directly to the schools.   This year is an especially important
one for our school because our building needs a new roof---$50,000!   Anyway,
the kids have to solicit sponsors and they have a special Texas Marathon day
at school where they walk, together with parents, pets, brothers, sisters and
teachers, to benefit their schools.  I would really appreciate if you could
donate to the cause.  With the Enron matching program, it really makes a
difference!  His school is very small, they keep the tuition low, and they
teach the old-fashioned way, including Christian values.  I really want to
support the school and keep it going.

If you can give anything, please let me know via e-mail and I'll come by and
collect the check, or you can just drop it by my desk.  The checks should be
made payable to Carden-Jackson School.  I need to finish the collections by
October 17 so I can get the matching forms into Enron

Thanks for your help!

 Colleen


The attached memo is being forwarded to you at the instruction of Jeff Hodge.

Joanne Rozycki
Senior Administrative Assistant
Enron North America Corp.
1400 Smith Street, EB3880D
Houston, TX  77002
Phone:  (713) 853-5968     Fax:      (713) 646-3490
Email:   joanne.rozycki@enron.com


Option terms are not reflected in the system. Trade date has been changed to
2/22 - reflects trade date in CDWR confirmation letter. I've left a copy of
the confirm letter on your desk just in case. Let me know if you have
questions.

Kate

Tim Belden
02/28/2001 12:42 PM
To: Kate Symes/PDX/ECT@ECT
cc: Carla Hoffman/PDX/ECT@ECT

Subject: Re: CDWR deal 530608.01

do not reflect the option in the system.  we will take care of that if we
exercise the option.  it would be good to get the proper transaction
execution date in there.

   Kate Symes                02/28/2001 12:11 PM

To: Tim Belden/HOU/ECT@ECT
cc: Carla Hoffman/PDX/ECT@ECT
Subject: CDWR deal 530608.01

Tim - would you like a copy of this deal's confirmation letter?

Carla - you entered this deal on 2/23/01. Should it be back-dated to match
trade date on confirmation letter?

Thanks,
Kate
---------------------- Forwarded by Kate Symes/PDX/ECT on 02/28/2001 12:13 PM
---------------------------
Stephanie Piwetz   02/28/2001 06:51 AM

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

Subject: CDWR deal 530608.01

Kate,  we received the executed Confirmation Letter from Portland Legal
yesterday with Department of Water Resources a division of the State of
California -CDWR believe it is trade 530608.01.  The confirmation has special
terms to extend the terms of the trade by a specific date and time regarding
the option.
Needed to know if you need a copy of this confirmation to note this and we
have trade date on our confirmation letter as Feb. 22, 2001.  The trade in
enpower has a trade date of Feb 23, 2001 Trader: Tim Belden
   please let me know.

Thank you
Stephanie


Ken, at your request, my staff and I met with Robert Hatchett and his team.
They offered Enron an opportunity to invest in a patented method of
generating electricity by converting methane to hydrogen and burning hydrogen
in a high efficiency turbine.  This patent represents an idea, without any
exhaustive quantitative analysis or research and without any prototype
demonstrated in the field or a lab.

We politely told Mr. Hatchett that we would review his proposal and get back
to him.

Subsequently, we conveyed to Mr. Hatchett that a) methane consumption rate
for an integrated facility based on the subject patent is higher than the
conventional plant efficiency b) the result in fuel cost is higher c) the
overall Co2 emissions are probably higher d) there is no economical or
technical justification to support an investment of Enron funds.

We informed Bob Hatchett that we would recommend to Enron that Enron not
invest in the development of this effort.  While we invited Mr. Hatchett to
respond back to us regarding our analysis, I see no further action required
by us at this time.

Please let me know if you want us to draft anything from you to Mr. Hatchett
regarding this subject.

LI39200


I still haven't received that list you mentioned of counterparties in
bankruptcy or workout.  What's the scoop?


Tanya and Sara:
Just an update on the ones that I am handling:

Aquila/Utilicorp will be in place tomorrow
Idacorp should be done this week as i spoke with their counsel today
Pancanadian  - we are waiting for them to decide whether they will accept the
ISDA form of CSA
Reliant - we do have their form and Rod and I are working through credit
issues
El Paso - I am waiting for a revised draft from them but we are close
J Aron - done

	Tanya Rohauer
	06/05/2000 03:25 PM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc: Russell Diamond/HOU/ECT@ECT, Rod Nelson/HOU/ECT@ECT, Paul
Radous/Corp/Enron@ENRON, Edward Sacks/Corp/Enron@Enron, Brant
Reves/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Carol St Clair/HOU/ECT@ECT, Susan
Bailey/HOU/ECT@ECT, Susan Flynn/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Brent
Hendry/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Taffy Milligan/HOU/ECT@ECT, Kaye
Ellis/HOU/ECT@ECT, William S Bradford/HOU/ECT@ECT
		 Subject: Re: Top 20

Sara,

After looking at the list, we are on top of most of it:

aquila risk - we should be assigning all the trades to the new Utilicorp ISDA
and terminating Aquila Risk master
jaron - we have a new ISDA; Jeff probably just isn't reflecting it yet
el paso - Brant is currently negotiating the new ISDA

The following are in negotiation and are Top 10s:
- idacorp
- wps
-pancanadian
-duke energy mktg ltd (i think this one is all but signed)
- mieco
-dynegy canada

I know you have had initial discussions with the counterparties and have
discussed the need to put new documentation in place with:
- morgan
- vitol

Lastly, we were waiting on Reliant to give us an updated draft ISDA; however,
now that Randy Baker has left Reliant, they are not likely to address for
awhile.  Tracy can ask Kelly about trying to get something in place.

The others can probably wait until we get some of the above executed. Dynegy
and Sempra are probably the most important of those left.  Dynegy should not
be too difficult; however, Sempra is a master financial/physical and will be
more problematic.  Let me know if you have any questions.

Thanks,
Tanya

From: Sara Shackleton on 06/02/2000 10:26 AM
To: Tanya Rohauer/HOU/ECT@ECT, Russell Diamond/HOU/ECT@ECT, Rod
Nelson/HOU/ECT@ECT, Paul Radous/Corp/Enron@ENRON, Edward
Sacks/Corp/Enron@Enron, Brant Reves/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT,
Carol St Clair/HOU/ECT@ECT, Susan Bailey/HOU/ECT@ECT, Susan
Flynn/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Brent
Hendry/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Taffy Milligan/HOU/ECT@ECT, Kaye
Ellis/HOU/ECT@ECT
cc: William S Bradford/HOU/ECT@ECT
Subject: Top 20

FYI - the following list reflects old ECT master and no master counterparties
by volume (not necessarily exposure).  Sara

Tanya:  do you want all of these names on the legal/credit list?
----- Forwarded by Sara Shackleton/HOU/ECT on 06/02/2000 10:08 AM -----

	Jefferson D Sorenson
	06/02/2000 09:27 AM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: Top 20

see if this will help
---------------------- Forwarded by Jefferson D Sorenson/HOU/ECT on
06/02/2000 09:26 AM ---------------------------

	From:  Diane Anderson                           06/01/2000 05:19 PM

To: Jefferson D Sorenson/HOU/ECT@ECT, Larry Joe Hunter/HOU/ECT@ECT
cc:
Subject: Top 20

Attached please find a spreadsheet of the top 20 counterparties (by number
of deals) with whom we do not have an ISDA Master Agreement, for the
period Jan-May '00.


will miss you.  hope you have a good trip.  as it turns out, i'm in
sacramento all week in close door negotiations trying to settle california's
electricity mess.  keep your fingers and toes crossed!

best,
jeff


I created a new deal to capture this flow.  #333712
I also created a deal for July, #333718.

D

Ricky Ellis@ENRON
07/17/2000 03:09 PM
To: Daren J Farmer/HOU/ECT@ECT
cc:
Subject: Extend Deal

During the month of June there is flow at meter 6347, but there is no deal.
There is a deal in May (deal 290472), "Could you extend that deal for the
month of June?"


The security desk downstairs may know who he checked in to see.


I'd check with Oxley first.  I kind of think they are separate issues, and I am not sure that the whole group needs to see the areas where we may have issues.  MHC
-----Original Message-----
From: Corteselli, Gina
Sent: Wednesday, July 11, 2001 11:27 AM
To: Cash, Michelle
Subject: RE: Diversity information for VP PRC

Meeting is on 23 July.  I would probably do it within the meeting, because that is probably the only time we'll get the committee together in one place.  Shall I pass this alterative through Delainey?

-----Original Message-----
From: Cash, Michelle
Sent: Wednesday, July 11, 2001 11:25 AM
To: Corteselli, Gina
Subject: RE: Diversity information for VP PRC

I like that better.  When is that meeting?  Or, do we want to do that separately outside of the PRC evaluation meeting?
-----Original Message-----
From: Corteselli, Gina
Sent: Wednesday, July 11, 2001 11:16 AM
To: Cash, Michelle
Subject: RE: Diversity information for VP PRC
How about you come in and brief them orally?

-----Original Message-----
From: Cash, Michelle
Sent: Wednesday, July 11, 2001 11:13 AM
To: Corteselli, Gina
Subject: RE: Diversity information for VP PRC

I don't think that is a good idea.
-----Original Message-----
From: Corteselli, Gina
Sent: Wednesday, July 11, 2001 9:16 AM
To: Cash, Michelle
Subject: RE: Diversity information for VP PRC
We were intending to put these results (which would actually be preliminary and based on the prerating results for VP's) into the VP data books.
-----Original Message-----
From: Cash, Michelle
Sent: Wednesday, July 11, 2001 9:05 AM
To: Corteselli, Gina
Subject: RE: Diversity information for VP PRC

Who will get them?  I am happy to sit down with him in a privileged conversation and discuss those statistics, which I think is the best way to protect the privilege.  Otherwise, if it goes to him at his request, then there is no protection if we find undesirable results.
-----Original Message-----
From: Corteselli, Gina
Sent: Tuesday, July 10, 2001 11:13 AM
To: Cash, Michelle; Oxley, David
Subject: Diversity information for VP PRC
Hi Michelle;

Dovie told me that she has had a chat with you regarding the diversity stats we were preparing for the VP PRC on 23 July.  Delainey had asked specifically for these stats, and that's why wewere including them.  Is there any way that we can provide the data, perhaps marking it attny privilidge?  If not, can we discuss this with Delainey so that he is aware of the reasons PEP PRC cannot provide it?  I'd apprecuate your thoughts.  Thanks, Gina


JEFFREY DASOVICH,
?
The PEP system will be open through Friday, June 1st so that you may complete
or decline your reviews.
?
Our records indicate that you have one or more requests for feedback that
have not yet been submitted.  Please complete or decline these requests as
soon as possible by logging into PEP at http://pep.enron.com and selecting
Complete Feedback from the Main Menu.
?
If you have any questions, please contact the PEP Help Desk at:
Houston:  713.853.4777, Option 4 or email: perfmgmt@enron.com
London:  44.207.783.4040, Option 4 or email: pep.enquiries@enron.com
?
Thank you for your participation in this important process.


I have replace the old basis differential with Michelle's new numbers and
migrated the program to
production.  So TW Deal Analysis is using the new basis differential now.

Mei-Ling

---------------------- Forwarded by Meiling Chen/ET&S/Enron on 11/07/2000
09:41 AM ---------------------------

ETS DBA
11/07/2000 08:09 AM
Sent by: Margaret Waters
To: Gary Kenagy/OTS/Enron@ENRON
cc: Mei-Ling Chen/ET&S/Enron@ENRON

Subject: Re: migration request

Done.

Gary Kenagy
11/06/2000 09:17 AM
To: ETS DBA/ET&S/Enron@ENRON
cc: Mei-Ling Chen/ET&S/Enron@ENRON
Subject: migration request

Please process the request below. Let both of us know if there are any issues.

Gary

---------------------- Forwarded by Gary Kenagy/OTS/Enron on 11/06/2000 09:18
AM ---------------------------

Meiling Chen
11/03/2000 05:21 PM
To: Gary Kenagy/OTS/Enron@ENRON
cc: Kim Kouri/ET&S/Enron@ENRON, Michelle Lokay/ET&S/Enron@Enron

Subject: migration request

DBA,
Please migrate up_TWDA_deal_analysis in etstest/twprod01 to dbo, and to
etsmo/twprod01, mojo/twprod01.
Grant execute to developers, TWDP in etstest
Grant execute to TWDP in etsmo and etsmojo

Gary,
Per user request, we need to replace basis differential for TW Deal Analysis
forward pricing that was hard coded
in the program with the latest numbers as stated in the e-mail from Michelle
Lokay.  We are working on
accessing the information from revenue management table as soon as the data
is available in the database.
This change does not impact any other applications.
Please approve it and forward this request to ets dba.

Thanks,
Mei-Ling

Kim Kouri
11/03/2000 07:08 AM
To: Mei-Ling Chen/ET&S/Enron@ENRON
cc:

Subject: Updated Average Basis Differential for Pipeline System

FYI, did you have this already?
---------------------- Forwarded by Kim Kouri/ET&S/Enron on 11/03/2000 07:07
AM ---------------------------

	From:  Michelle Lokay                           11/02/2000 04:28 PM

To: Mei-Ling Chen/ET&S/Enron@ENRON
cc: Kim Kouri/ET&S/Enron@ENRON

Subject: Updated Average Basis Differential for Pipeline System


---------------------- Forwarded by David W Delainey/HOU/ECT on 06/15/2000
09:14 AM ---------------------------

"perfmgmt@enron.com"<perfmgmt on 06/14/2000 12:04:30 AM
To: ddelain2@enron.com
cc:
Subject: Reviewer Approval

Please note that your employees have suggested the following people to
complete a feedback form on their behalf.  You will need to access the
Performance Management System (PEP) to either approve or decline these
suggested reviewers.  Once you have approved the suggested reviewers they
will be notified and can begin completing the feedback form.

Your list of employees that have suggested reviewers are listed below:

Date suggested: Jun 12, 2000
Feedback Due Date: Jun 16, 2000

Employee Name: OVERDYKE, JERE C.

Date suggested: Jun 12, 2000
Feedback Due Date: Jun 16, 2000

Employee Name: PIPER, GREGORY F


Aleck --

Just wanted to give you some updates from my presentation in Toronto.

1. I used alot of material from Lay's speech.  Changed it a little.  I think
I did ok (although I referenced airline competition in Canada - something you
guys haven't yet put in place).

2. The general tone of the day was that Ontario has some more work to do.  It
doesn't appear that the parties were really ready to move ahead with
competition.  California wasn't discussed too much.  Many people are worried
that the rules don't really promote competition - which they don't.

3. OPG indicated at lunch that they want competition, but that it was up to
the parties in the meeting to make it happen.  Most people were in agreement
(quietly).

Given the huge value loss for ENA if we don't get it open, I'd like to know
if there is anything else we can do to help you.   There are some new
Competitive Analysis guys that may be able to help us find some leverage -
pls give me a call.  Finally, I saw Lavorato in the airport on the way back
to Houston.  He is ready to help and recognizes the importance of this
activity.  I think that he can get Lay and/or Skilling whenever through the
Summer.

If you can push this through, this is a huge win for Government Affairs.
This is easily the biggest Regulatory Origination opportunity we have this
year.

Jim


It is amazing and yet not surprising how much Enron has accomplished in the
first six months of this year. You continue to make it happen.  We recognize
that you work hard every day to accomplish Enron,s business goals, and we are
pleased that many of you have shared in the company,s financial success
through Enron stock options.

As you may know, the current employee stock option program (also known as the
All Employee Stock Option Program or AESOP) began in 1994 and provided value
to participants through 2000.  Employees who have participated in this
program from its inception have realized a 1,119% increase in the value of
their stock options (assuming a stock price of $70) over the life of the
program.

Enron stock options are a valuable part of your total compensation package
and a contributing factor to your performance and to Enron,s continued
success.  Therefore, the Enron Executive Committee and the Compensation and
Management Development Committee of the Enron Board of Directors have decided
to continue to offer stock options as a part of your compensation package.

On May 1, 2000, the Committee approved an employee stock option program for
calendar years 2001 - 2005 (EnronOptions ) Your Stock Option Program).  It is
expected that EnronOptions ) Your Stock Option Program will be granted,
effective on or about December 29, 2000, for those employees who are eligible
on that date (please see note below).  The new program, which is subject to
final approval by Enron,s Board of Directors, is as follows:

? EnronOptions ) Your Stock Option Program will give stock options to
eligible full-time and part-time regular employees in domestic and
international companies/locations.
? The grant of non-qualified stock options will equal 25% of annual base
salary (5% of annual base salary for each year of a 5-year period) on
December 29, 2000. (Salary calculation and value may vary in some
international locations.)
? The Board will grant the stock options on December 29, 2000.
? Eligible employees hired in subsequent years will receive a prorated grant
of stock options.

Why commit your talent and energy to Enron?  EnronOptions ) Your Stock Option
Program, among other good reasons( that,s why.

In the coming weeks, you will be receiving more details about EnronOptions )
Your Stock Option Program.  To provide information and answer your questions,
we will introduce a special link on the Human Resources web-site, host
several eSpeak sessions and continue to communicate with you on a regular
basis.  In the meantime, if you have immediate questions, please contact your
Human Resources representative.

Note: In addition to final approval by Enron,s Board of Directors, granting
of options will be subject to New York Stock Exchange and state and federal
regulatory requirements.  It is expected that EnronOptions ) Your Stock
Option Program will be available to most Enron employees; however, some Enron
companies, employees may not be eligible due to legal, accounting, tax, labor
or business issues.  As you know, Enron changes to meet the needs of the
marketplaces we serve.  Given that need to change, we will continue to refine
the eligibility for EnronOptions ) Your Stock Option Program and will
communicate more details throughout the year with final eligibility being
determined on December 29, 2000.


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 08/25/2000
01:47 PM ---------------------------

"Andreas Simou" <andreas@garpmail.com> on 08/25/2000 08:48:09 AM
To: <Vince.J.Kaminski@enron.com>
cc:
Subject: The GARP 2001 Convention

Dear Mr Kaminski
?
Please find attached important information  concerning the GARP 2001
Convention, which will be held in New  York between 13th and 14th February,
2001.
?
Please respond by the 6th September so that all  your details are correctly
put into the brochure and our web site. Should you  have any queries please
do not hesitate to contact me.
?
I look forward to working with you and to seeing  you in New York in February.
?
Kind regards
?
Andreas
____________________________
Andreas Simou
GARP 2001 -  Conference Producer
Tel? +44 (0) 20 7626 9301
Fax +44 (0) 20 7626  9900
 - Kaminski.doc


Start Date: 4/16/01; HourAhead hour: 12;  No ancillary schedules awarded.
Variances detected.
Variances detected in SC Trades schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001041612.txt

---- SC Trades Schedule ----
+++ Hour 12 - bad data from ISO.
  TRANS_TYPE: FINAL
  SC_ID: EPMI
  MKT_TYPE: 2
  TRANS_DATE: 4/16/01
  TRADING_SC: PGAE
  PNT_OF_INTRC: NP15
  SCHED_TYPE: ENGY
  PURCH_SALE: 2
  DEAL_NO: 1


Send me your changes.

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


Please prepare letter for signature.

----- Forwarded by Gerald Nemec/HOU/ECT on 08/24/2000 06:47 PM -----

	Joan Quick
	08/24/2000 04:13 PM

		 To: Gerald Nemec/HOU/ECT@ECT
		 cc:
		 Subject: Re: OGE Energy Resources Termination Letter

gerald,

looks good except for a couple words that i changed and italicized [sp?].

joan

To: Joan Quick/HOU/ECT@ECT
cc:
Subject: OGE Energy Resources Termination Letter

Please review the attached termination letter.  Crescendo will need to sign
this.  We can forward this letter to Crescendo for signature unless you would
rather handle that.  Let me know.  Thanks.

----- Forwarded by Gerald Nemec/HOU/ECT on 08/24/2000 01:03 PM -----

	Eric Gillaspie
	08/24/2000 11:43 AM

		 To: Gerald Nemec/HOU/ECT@ECT
		 cc:
		 Subject: OGE Energy Resources Termination Letter

Gerald,

Attached is the termination letter as requested.

Eric Gillaspie
713-345-7667
Enron Building 3886


Dear SVMG Member Company Representative -

We need a Host Site for a major Energy Summit on May 4.

As you know, we partnered last month with San Jose Mayor Ron Gonzales,
County Board of Supervisors Chair Jim Beall, and each Santa Clara County
Mayor on an Energy Summit.

To meet the ambitious conservation and load management goals necessary to
help fend off rolling black-outs this summer, all fifteen cities and the
county agreed that we should partner on a second Summit, as soon as
possible, to gain quantifiable commitments from both the public and private
sector to reduce energy use in Silicon Valley.

The location for the second Summit - slated for Friday, May 4, from 7:15am
until 12 noon, needs to accomodate 150-200 people.

I NEED YOUR HELP.  We need a Member Company to host this important gathering
of public and private sector leaders, which includes a space to seat 150-200
people, along with light refreshments.  In addition, we will have numerous
state and federal legislators, and probably a lot of (positive) media
interest.

If your company can accomodate such a gathering, and you would be willing to
serve as our host site, please let me know asap.  We hope to have "save the
date" flyers out by this coming Friday, April 6.  I apologize for this short
notice, but with summer fast approaching, we need to move as expeditiously
as possible.

Sincerely,

Carl Guardino


I'd agree with you on this.  Let's not confuse our purpose for being down
there.   Also,  I'm trying to get Mike to go in my place.

Doug Arnell@ENRON_DEVELOPMENT
01/08/2001 02:18 PM
To: Jeffrey A Shankman@ECT
cc:
Subject: FPL meeting

Jeff, we talked last week about Ozzie Pagan coming to the FPL meeting.  My
thoughts are that the deals Ozzie are talking about it are great and could
very well be a part of what we do with the LNG deal, but I doubt the meeting
will get to that level of detail.  If we get the LNG deal and a possible gas
transaction on to FPL's radar screen, then we will have accomplished alot.
Having Ozzie there as Enron's Florida power project developer may be too
distracting.  As part of the many follow-up  meetings we will hope to have
with FPL, Ozzie can make his pitch to them.

If you concur, I'll let Ozzie know.

Thanks


Jay, what are we doing with questar positions?  Are you managing this index
point? I have an April position and Mark Whitt is working on a term deal.

Thanks,
Mike


You requested the publicly available information underlying our slides, so
you could independently verify Enron's conclusions.  If you have any other
questions please call me.
---------------------- Forwarded by Mary Hain/HOU/ECT on 09/07/2000 12:47 PM
---------------------------

TIM HEIZENRADER
09/07/2000 12:30 PM
To: Mary Hain/HOU/ECT@ECT
cc: Tim Belden/HOU/ECT@ECT
Subject: Public Hydro Data Sources

Mary:

The public data sources that we routinely use for historical, realtime and
forecast hydroelectric data are:

 http://www.nwd-wc.usace.army.mil This site is operated by the Northwest
Division of the US Army Corp of Engineers, and includes both historical and
near-realtime water and power data for all Corp Columbia basin projects, as
well as major USBR projects and non-federal mid-Columbia plants;

 http://www.nwrfc.noaa.gov This site is operated by the Northwest River
Forecast Center. It includes both assessments of current Columbia basin
streamflow conditions and forecasts of future conditions;

 http://www.mp.usbr.gov This is a Bureau of Reclamation site that publishes
current data and forecasts for California's Central Valley Project (CVP)
plants;

 http://www.uc.usbr.gov  This is a Bureau of Reclamation site that publishes
data and forecasts for Colorado River Storage Project (CRSP) plant water
releases and power production;

 http://h2o.usgs.gov  This is a Geological Survey site that publishes
near-realtime data from automated streamflow gages, and

 http://www.cbr.washington.edu/dart/ This is a site operated by the
University of Washington that provides convenient access to historical
Columbia River and tributary water data.

Of these, the sites most relevant to recent markets are probably the Corp'
Northwest Division site, which offers enough near-realtime generation data to
directly account for 75% to 80% of Columbia River energy production, and the
River Forecast Center, which provides snowpack-driven, long range volume
runoff forecasts. The CVP data are a helpful index of California hydro
conditions, but only represent about 10% of the state's installed hydro
capacity.

Please forward this information to appropriate FERC staff.


I am on the Board of BEAR and sponsoring this effort.  Please let Janette
Elbertson know by e-mail if you are interested in donating your time to help
staff the table in the lobby on Monday, December 18, from 10 a.m. to 2:00 p.m.

Thank you.

Help CPS Kids!
Enron, KRBE and Sun and Ski Sports are collecting donations for Children,s
Protective Services Be A Resource (BEAR) Program to purchase gifts this
holiday season. Make your donation and receive a $10-off coupon for Sun and
Ski Sports.

Donations will be accepted in the Enron Building Lobby - Tuesday, December
12, Thursday, December 14 and Monday, December 18 from 10 a.m. to 2 p.m. or
in EB407.

KRBE Morning Show LIVE in Antioch Park
Come out and show your support for the CPS BEAR collection Monday, December
18 when the 104 KRBE morning show,s Streets of America comes to Antioch Park.
See you there from 6 a.m. to 9 a.m.


Where is AB gas? This market is such a shit show. How are things going? I am
going to get fucked on broker gifts this X-mas. That sucks.

Later

CD


Here is a copy of the most recent deal done with El Paso


The  first  quarter of 2001 was a record quarter for the performance of the
businesses  under the Enron Global Markets group.  We posted a gross margin
number  of  $100  million  for  the  first  quarter.  This represents a 38%
increase in gross margin after a very successful Q1 of 2000.  When combined
with  outstanding  results  posted in December of 2000, EGM has contributed
over  $187  million  to the Wholesale group in the last 4 months.  This was
due to tremendous contributions from each business group.

In  order  to  keep  the  momentum going and to facilitate more growth, the
following changes and additions have been made within the organization.

Crude and Products group
Mid-marketing
Bill  Berkeland  has  joined  the  group  and is responsible for creating a
focused  mid-marketing  function  specifically  within  this  group.   Fred
Lagrasta  is  responsible  for  mid-marketing  for Enron Americas and still
maintains  some  responsibility for various contacts and deal flow as well.
The purpose of this group is to be very focused in the development of crude
and  product  specific  products and services.  This group reports to Randy
Maffett.

Origination
In  order  to  manage  the  increased  origination opportunities around the
world,  the  Origination group has been changed in order to insure that the
proper focus is placed on these opportunities and to manage its wide scope.
Doug  Friedman  will lead our NGL and Petchem origination efforts reporting
to  John  Nowlan.   Joining  Doug will be Rick Cantrell recently hired from
Union  Carbide.   The global crude and products origination group has added
Randy  O'Conner  from  Red  Meteor,  who  has extensive experience in these
markets.   Both Randy and Doug Leach's growing fuels origination group will
report to Randy Maffett.

Trading
Lee  Jackson  will  assume  the  role  of U.S. NGL's lead financial trader,
supported  by  Chad South.  The petchem and plastic trading businesses have
been  reorganized under Stuart Bland.  Alan Engberg will be responsible for
plastics trading in the Americas.

Shipping
Scott  Moncrieff  will assume responsibility of our global shipping network
related  to  crude  and products.  Scott will be charged with expanding all
aspects  of the shipping portfolio taking advantage of our growing presence
in these markets and the successes we have had marketing shipping on line.

Weather
The  weather  group  under Mark Tawney's direction is expanding its efforts
around the world.  Europe will have an expanded focus and the London office
will  focus  on  new opportunities in Europe.  Paul Murray has joined Enron
from  Castlebridge  Partners  and  will  be moving to London to develop and
expand  the  continental  opportunities.  Ross McIntyre, currently based in
London,  will report to Paul.  Bill Windle has joined the weather group and
has  responsibility  for  origination activities for North America.  Bill's
most  recent assignment has been in the EBS organization.  The Oslo weather
office  managed  by  Thor  Lien  will  have  responsibility for Scandinavia
weather  activities.   In  addition,  employees  are  being  added  in  the
Australia and Japan regions.  We are now making markets in 32 cities around
the world on EnronOnline.

Coal
Mark Schroeder has joined the coal group and is responsible for origination
activities  with  generators in the U.S.  Mark's most recent assignment was
as  the  head  of  all  regulatory  activities  for Enron Europe, Japan and
Australia.

Enron Japan
The  momentum  of  power  deregulation  process  has  slowed in Japan.  The
decision  has been made to scale back the wholesale power activities.   Joe
Hirl,  President  and  CEO  of  Enron  Japan,  will now report into the EGM
organization.   Joe  will  maintain his direct responsibility of the office
and  will be increasing his focus on the business lines within EGM.  All of
these  products  have  high growth potential in both the near and long-term
and  he  will coordinate and help implement with all the business lines and
their activities.

LNG
LNG  continues  to  expand  with  the  vision  to  increase  the  number of
transactions and create a portfolio of assets and contractual access around
the   world.    Jonathan  Whitehead  has  joined  the  LNG  group  and  has
responsibility for all trading and shipping activities.

Neal Gerstandt, previously an independent energy consultant,  Jared Kaiser,
from  Enron  Americas  - East Gas Desk, and Kurt Lindahl, from Enron Global
Assets, have also joined the LNG group with responsibilities in the area of
origination in the Western Region.

Enron Freight Markets
EFM  has  concluded over 2,000 transactions in its first two months.  Chris
Kravas  continues  to  focus  on  building  the spot trading and mid-market
capabilities  that  will enable it to be the dominant player in its market,
and has hired four new traders in the last two weeks.  Kellie Metcalf, from
EBS,   has  joined  Shawn  Cumberland's  origination  effort,  and  Deirdre
McCaffrey,  from  Gas  Structuring and Mid-Market, has joined Matt Arnold's
forward trading group focusing on diesel products.

Global Risk Markets
David Hoog joined Enron from Ace Insurance in December 2000 and has quickly
built  a  team of people specialized in trading unit contingent power price
call  options,  a  hybrid  insurance derivative product. Drawing on Ace and
Enron  resources,  this  team  is  based  in  New  York  and  includes Alex
Tartakovski  and  Larry Marcus from Ace, as well as Joana Bekerman and Tony
Chang  who recently moved to New York from Houston. Their first transaction
closed just 3 months after startup.

Brad  Blesie  will  be  moving  to  London  in  June to establish a base of
operation  for  GRM and expand our insurance derivative activities into the
European  market  place.  Among the opportunities he is currently exploring
are  contingent call options applied to shipping and charter rates, trading
insolvent  insurance  claims,  and combining North Sea oil and gas VPP risk
with decommissioning insurance.

In  April this year, EGM established a hedge fund origination effort in New
York  reporting  to  Per Sekse and led by Russell Dyk who recently moved to
New  York  from  LNG  in  Houston. Russell is responsible for expanding our
commodity  trading  relationship  with  hedge  funds  to include crude oil,
products,  liquids  and other commodities traded by EGM. Joining Russell in
this  effort is Stephen Plauche, who comes to us from Enron Americas' power
trading desk.

Financial Trading
Elsa   Piekielniak   has  assumed  responsibility  for  Enron's  developing
agriculture  business.   Billy  Lemmons has changed groups and now runs the
Analyst and Associate program for Enron Corp.

Please congratulate everyone on their new assignment and we look forward to
the continued growth in all the EGM businesses.


-----Original Message-----
From:  "Forte, Michael" <FORTEM@coned.com>@ENRON
[mailto:IMCEANOTES-+22Forte+2C+20Michael+22+20+3CFORTEM+40coned+2Ecom+3E+40ENR
ON@ENRON.com]
Sent: Tuesday, April 24, 2001 1:22 PM
To: Brown, Michael
Cc: Shackleton, Sara; Cray, Brian E.
Subject: Confirms with Enron

   Michael,

 Attached are our re-drafts of the financial products (collar,
participating swap and swap) that we are contemplating. Note that with
regard to the collar, the Notional Quantity was not put in the chart of the
call and put prices as we discussed, as it was too cumbersome to do so.  It
was set out as a separate line item.  We also provided for copies of certain
notices to be sent notices to be sent to the Con Edison General Counsel.
The draft confirms for the participating swap and the swap also use similar
provisions for Notional Quantity and provide for copies of such notices to
be sent to the Con Edison General Counsel.

>    <<ENA-CE Collar Confirm (4-24PM).doc>>
> <<ENA-CE Partic Swap Confirm (4-24PM).doc>>    <<ENA-CE Swap
> Confirm (4-24PM).doc>>
>
Thank you and have a great day!
Michael

 - ENA-CE Collar Confirm (4-24PM).doc
 - ENA-CE Partic Swap Confirm (4-24PM).doc
 - ENA-CE Swap Confirm (4-24PM).doc


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.

Option Candlesticks
http://www.carrfut.com/research/Energy1/candlesticks22.pdf

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


I think it will have to sit with Smurfit in some way or  another.
I had just wanted to let you know what John had said.? I  would think you
would require more of a procedure than what he  mentioned.
:-)
Have a wonderful night.? I have a date.
Lynn
----- Original Message -----
From:  Kim.Ward@enron.com
To: Lynn  Bracken
Sent: Wednesday, February 14, 2001 4:58  PM
Subject: Re: Fw: recommendation

Matt is the one who told me about this and he found out  about it from John.
Today, we were able to dodge Socal's penalties because  of some flexibility
that we have.? Matt is currently assessing the  situation with regards to
penalties tomarrow.? We can buy intra-day  gas but it will be at a big
premium - and a cost to us.? I think that  we will need to include language
in our March contract to the effect that  if Smurfit doesn't schedule with
us and use a volume that is within Socal's  imposed tolerance level, we will
be able to pass the associated costs back  to Smurfit.

HOw do you think this will sit with  Smurfit?

Kim

"Lynn Bracken" <lbracken@summitenergy.com> on  02/14/2001 01:45:40 PM

Please respond to "Lynn Bracken" <lbracken@summitenergy.com>

To:??  <Kim.Ward@enron.com>
cc:
Subject:?  Fw: recommendation

----- Original Message -----
From:  Ewing, John
To: Lynn Bracken
Cc: Dunsmoor, Earl
Sent: Wednesday,  February 14, 2001 4:26 PM
Subject: RE:  recommendation

Lynn,

Matt at (713) 853-0472 was apprised as  soon as I? was that cogen was back
up and running.

Best  regards,
John? Ewing

-----Original Message-----
From: Lynn  Bracken [SMTP:lbracken@summitenergy.com]
Sent:?  Wednesday, February 14, 2001 3:27 PM
To: Ewing, John
Cc: Joanne?  Horalek
Subject: Re: recommendation

John

Talked to Kim Ward  at? Enron this afternoon to confirm pricing for rolling
the contract  forward. ? She expressed concern that there are specific
tolerances  that Enron has to abide? by or they will incur penalties. She
stated  that Enron contacted the LA? Vernon site today to see if you  were
running. They were told no, and she? said that later today that  changed
without notice to Enron.

This may have? been an  oversight today, but a concern when trying to move
forward with any?  marketer.
To eliminate the baseload requirements and Gas Daily  pricing? for swing
volumes, the plant has to be proactive in notifying  Enron of any
significant changes in usage. Otherwise, Enron will force the  penalties
back to SSCC.

Thank  you,
Lynn


Don't have any recollection...but my CAS records do show that we are using
the old SBC master.

 -----Original Message-----
From:  Shackleton, Sara
Sent: Thursday, March 08, 2001 7:19 PM
To: Rohauer, Tanya
Subject: amending ISDA Masters

Tanya:

I have been reviewing some of Gary Hickerson's older master agreements which
may require amending (to provide for multibranch transactions).  I wanted to
verify which master we are relying on for UBS AG.  The files are a little
confusing but it appears that we use the May 31, 1993  Swiss Bank Corporation
master (and not the March 15, 1994 master with Union Bank of Switzerland).

Do you have any recollection of this?

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


Don't forget... the ice cream social for January birthdays is today at 3:00
pm in 38C2!

Holly