continental.com Specials for Susan Scott
Wednesday, January 9, 2002
****************************************

UNWIND FOR LESS

Whether it's a tour of the California wineries, an escape to the Swiss Alps, or a walk through The Imperial Palace in Tokyo, Continental Airlines gets you there with an additional 10% off select sale fares.

Visit:
http://continentalairlines.rsc01.net/servlet/cc4?JHEVBX*llJhmmZQLgkhgEJht*z*VA
to purchase your eTickets today.

TRAVEL UPDATES
Be sure to check continental.com at:
http://continentalairlines.rsc01.net/servlet/cc4?JHEVBX*llJhmmZQLgkhgEJht*z*WA
before leaving for the airport. We're looking forward to welcoming you onboard!

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TABLE OF CONTENTS
1. This Week's Destinations
2. Continental Vacations Offers
3. Hilton Hotels & Resorts, Doubletree Hotels & Resorts, & Embassy Suites Hotels Offers
4. Westin Hotels & Resorts, Sheraton Hotels & Resorts, Four Points by Sheraton, St. Regis, The Luxury Collection and W Hotels Offers
5. Alamo Rent A Car Offers
6. National Car Rental Offers

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1. THIS WEEK'S DESTINATIONS

Depart Saturday, January 12 and return on either Monday, January 14 or Tuesday, January 15, 2002. Please see the Terms and Conditions listed at the end of this e-mail.

Purchase continental.com Specials online until 11:59pm (CST) Friday at:
http://continentalairlines.rsc01.net/servlet/cc4?JHEVBX*llJhmmZQLgkhgEJht*z*XA
You can also purchase continental.com Specials for an additional cost of $20 per ticket through our telephone service at 1-800-642-1617.

**********************************************
ROUND-TRIP TRAVEL MAY ORIGINATE IN EITHER CITY
**********************************************
****Roundtrip BETWEEN CLEVELAND, OH and:

$109 - Chicago, IL (Midway only)
$119 - Manchester, NH
$109 - New York/Newark (Newark only)
$129 - Tampa/St. Petersburg, FL

****Roundtrip BETWEEN HOUSTON, TX and:

$139 - Albuquerque, NM
$109 - Austin, TX
$109 - Baton Rouge, LA
$119 - Birmingham, AL
$139 - Boston, MA
$109 - Brownsville/South Padre Island, TX
$109 - Corpus Christi, TX
$109 - Dallas/Ft. Worth, TX (Love Field only)
$109 - El Paso, TX
$129 - Indianapolis, IN
$109 - Jackson, MS
$129 - Jacksonville, FL
$119 - Kansas City, MO
$119 - Louisville, KY
$119 - Lubbock, TX
$109 - McAllen /Rio Grande Valley, TX
$119 - Midland/Odessa, TX
$109 - Monroe, LA
$129 - Montrose, CO
$129 - Nashville, TN
$169 - Oakland, CA
$169 - Orange County/Santa Ana, CA
$109 - Pensacola, FL
$129 - Tampa/St. Petersburg, FL
$149 - Tucson, AZ

****Roundtrip BETWEEN NEW YORK/NEWARK and:

$139 - Ft. Myers, FL
$109 - Hartford, CT
$139 - Houston, TX  (Intercontinental/Ellington)
$109 - Indianapolis, IN
$129 - Jacksonville, FL
$189 - Los Angeles, CA
$109 - Manchester, NH
$109 - Providence, RI
$109 - Raleigh Durham, NC
$109 - Rochester, NY
$109 - Savannah, GA
$129 - Tampa/St. Petersburg, FL

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2. CONTINENTAL VACATIONS OFFERS

5,000 OnePass Bonus Miles Just for Skiing!

Enjoy the best of Colorado's white powder during ski season. Book a ski package for 5 nights or longer and you can earn 5,000 OnePass Bonus Miles.

For more information about this exciting offer, visit:
http://continentalairlines.rsc01.net/servlet/cc4?JHEVBX*llJhmmZQLgkhgEJht*z*YA

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3. CONTINENTAL.COM SPECIALS FROM HILTON HOTELS AND RESORTS, DOUBLETREE
HOTELS AND RESORTS, AND EMBASSY SUITES HOTELS

The following rates are available January 12 - January 14, 2002 and are priced per night.
--------------------------------------
Austin, TX - Hilton Austin North - $99
Austin, TX - Embassy Suites Hotel Austin-Arboretum - $139

Boston, MA & Manchester, NH - Hilton Dedham Place, Dedham, MA. - $139

Cleveland, OH - Hilton Garden Inn Cleveland Airport - $79

Dallas, TX - Hilton Garden Inn Las Colinas, Irving, TX. - $79/Night, 1/12-13
Dallas, TX - Hilton Dallas Parkway, Dallas, TX. - $65

Ft. Myers, FL - Hilton Marco Island Beach Resort, Marco Island, FL. - $159

Hartford, CT - Hilton Hartford - $129

Houston, TX - Hilton Houston Westchase and Towers - $149
Houston, TX - Hilton Houston Hobby Airport - $109

Kansas City, MO - Hilton Garden Inn Independence, Independence, MO. - $59

Los Angeles & Orange County, CA - Hilton Port of Los Angeles/San Pedro, San Pedro, CA. - $119
Los Angeles & Orange County, CA - Hilton Irvine/Orange County Airport, Irvine, CA. - $149
Los Angeles & Orange County, CA - Embassy Suites Hotel Los Angeles-Downey, Downey, CA. $129
Los Angeles & Orange County, CA Doubletree Club Orange County Airport, Santa Ana, CA. - $99
Los Angeles, CA - Doubletree Guest Suites Santa Monica, Santa Monica, CA. - $189
Los Angeles, CA - Embassy Suites Hotel Buena Park-Located Near Disneyland Park and Knott's Berry Farm, Buena Park, CA. - $94
Los Angeles, CA - Embassy Suites Hotel Los Angeles-Intl Arpt. South, El Segundo, CA. - $129

Nashville, TN - Embassy Suites Hotel Nashville-Airport - $119

Newark, NJ - Hilton Pearl River, Pearl River, NY. - $85/Night, 1/12-13
Newark, NJ - Hilton Fort Lee at the George Washington Bridge, Fort Lee, NJ. - $109
Newark, NJ - Hilton Newark Gateway, Newark, NJ. - $209
Newark, NJ - Doubletree Club Suites Jersey City, Jersey City, NJ. - $149

Oakland, CA - Hilton Garden Inn Livermore, Livermore, CA. - $109
Oakland, CA - Hilton Garden Inn Mountain View, Mountain View, CA. - $189
Oakland, CA - Hilton Newark/Fremont, Newark, CA. - $147

Pensacola, FL - Hilton Sandestin Beach Golf Resort & Spa, Destin, FL. - $129

Raleigh/Durham, NC - Hilton Durham - $99

Tampa, FL - Hilton Clearwater Beach Resort, Clearwater, FL. - $99

Tucson, AZ - Hilton Tucson East - $59
Tucson, AZ - Embassy Suites Hotel Tucson-International Airport - $59

To book this week's special rates for Hilton Family Hotels, visit and book at:
http://continentalairlines.rsc01.net/servlet/cc4?JHEVBX*llJhmmZQLgkhgEJht*z*ZA
Special rates apply only for the dates listed at each hotel and are subject to availability. Check hilton.com for specific dates at each Hilton Family Hotel. Or call at 1-800-774-1500 and ask for Value Rates. Restrictions apply to these rates.

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4. CONTINENTAL.COM SPECIALS LAST-MINUTE WEEKEND RATES FROM WESTIN HOTELS & RESORTS, SHERATON HOTELS & RESORTS, FOUR POINTS BY SHERATON, ST. REGIS, THE LUXURY COLLECTION, AND W HOTELS

Last-Minute Weekend Rates for this weekend January 11 - January 15, 2002.
--------------------------------------
California - Millbrae - The Westin San Francisco Airport - $110.00
California - Pleasanton - Four Points by Sheraton Pleasanton - $56.00
California - San Francisco - The Westin St. Francis - $130.00
California - San Rafael - Four Points by Sheraton San Rafael - $89.00
California - Santa Clara - The Westin Santa Clara - $77.00
California - Sunnyvale - Four Points by Sheraton Sunnyvale - $59.00

Connecticut - Danbury - Sheraton Danbury Hotel - $75.00
Connecticut - Stamford - The Westin Stamford - $77.00
Connecticut - Stamford - Sheraton Stamford Hotel - $77.00
Connecticut - Windsor Locks - Sheraton Bradley Airport Hotel - $89.00

Florida - Clearwater Beach - Sheraton Sand Key Resort - $129.00
Florida - Orlando - Sheraton Studio City Hotel - $75.00
Florida - Orlando - The Westin Grand Bohemian, Orlando - $65.00
Florida - Tampa - Sheraton Suites Tampa Airport - $85.00

Illinois - Arlington Heights - Sheraton Chicago Northwest - $59.00
Illinois - Chicago - Sheraton Chicago Hotel and Towers - $129.00
Illinois - Chicago - The Westin Michigan Avenue Chicago - $136.00
Illinois - Chicago - W Chicago Lakeshore - $155.00
Illinois - Chicago - W Chicago City Center - $139.00
Illinois - Elk Grove Village - Sheraton Suites Elk Grove Village - $71.00
Illinois - Oakbrook Terrace - Four Points by Sheraton Oakbrook - $58.00
Illinois - Rosemont - Sheraton Gateway Suites Chicago O'Hare - $71.00
Illinois - Schiller Park - Four Points by Sheraton Chicago O'Hare Airport - $79.00

Indiana - Indianapolis - Sheraton Indianapolis Hotel and Suites - $76.00
Indiana - Indianapolis - Four Points by Sheraton Indianapolis East - $49.00
Indiana - Indianapolis - The Westin Indianapolis - $87.00

Kentucky - Lexington - Sheraton Suites Lexington - $69.00

Massachusetts - Danvers - Sheraton Ferncroft Resort - $89.00
Massachusetts - Eastham - Four Points by Sheraton Eastham Cape Cod - $84.00
Massachusetts - Framingham - Sheraton Framingham Hotel - $84.00
Massachusetts - Hyannis - Sheraton Hyannis Hotel - $79.00
Massachusetts - Leominster - Four Points by Sheraton Leominster - $77.00
Massachusetts - Needham - Sheraton Needham Hotel - $84.00
Massachusetts - Newton - Sheraton Newton Hotel - $89.00
Massachusetts - Wakefield - Sheraton Colonial Hotel and Golf Club Boston North - $70.00
Massachusetts - Waltham - The Westin Waltham Boston - $90.00

Missouri - Kansas City - Four Points by Sheraton Kansas City Country Club Plaza - $59.00

New Hampshire - Manchester - Four Points by Sheraton Manchester - $65.00
New Hampshire - Nashua - Sheraton Nashua Hotel - $79.00

New Jersey - East Rutherford - Sheraton Meadowlands Hotel and Conference Center - $99.00
New Jersey - Edison - Sheraton Edison Hotel Raritan Center - $75.00
New Jersey - Elizabeth - Four Points by Sheraton Newark Airport - $77.00
New Jersey - Iselin - Sheraton at Woodbridge Place Hotel - $71.00
New Jersey - Morristown - The Westin Morristown - $65.00
New Jersey - Mt Arlington - Four Points by Sheraton Mt Arlington - $68.00
New Jersey - Parsippany - Sheraton Parsippany Hotel - $70.00
New Jersey - Piscataway - Four Points by Sheraton Somerset/Piscataway - $75.00

New York - New York - The St. Regis - $450.00
New York - New York - Sheraton New York Hotel and Towers - $169.00
New York - New York - Essex House  A Westin Hotel - $228.00
New York - New York - The St. Regis Club at the Essex House, New York - $299.00
New York - Niagara Falls - Four Points by Sheraton Niagara Falls - $58.00
New York - Rochester - Four Points by Sheraton Rochester Riverside - $67.00

Ohio - Independence - Four Points by Sheraton Cleveland South - $52.00
Ohio - Wickliffe - Four Points by Sheraton Cleveland East - $64.00

Rhode Island - Providence - The Westin Providence - $156.00
Rhode Island - Warwick - Sheraton Providence Airport Hotel - $69.00

Tennessee - Nashville - Sheraton Music City - $62.00

Texas - Dallas - Sheraton Suites Market Center - $64.00
Texas - Dallas - Sheraton Dallas Brookhollow Hotel - $49.00
Texas - Dallas - The Westin Galleria Dallas - $110.00
Texas - Fort Worth - The Westin Beechwood Ft. Worth - $64.00
Texas - Frisco - The Westin Stonebriar Resort - $74.00

Visit our site:
http://continentalairlines.rsc01.net/servlet/cc4?JHEVBX*llJhmmZQLgkhgEJht*z*AA
for booking these and other Last-Minute Weekend Rates.
For complete details on these offers, please refer to the terms and conditions below.

********************************
5. CONTINENTAL.COM SPECIALS FROM ALAMO RENT A CAR

Rates listed below are valid on compact class vehicles at airport locations only. Other car types may be available. Rates are valid for rentals on Saturday, January 12 with returns Monday, January 14 or Tuesday, January 15, 2002.
-------------------------------
$26 a day in:  Albuquerque, NM (ABQ)
$20 a day in:  Austin, TX (AUS)
$24 a day in:  Hartford, CT (BDL)
$18 a day in:  Birmingham, AL (BHM)
$19 a day in:  Nashville, TN (BNA)
$23 a day in:  Boston, MA (BOS)
$20 a day in:  Cleveland, OH (CLE)
$18 a day in:  Dallas, TX (DAL)
$26 a day in:  Newark, NJ (EWR)
$18 a day in:  Houston, TX (IAH)
$20 a day in:  Indianapolis, IN (IND)
$26 a day in:  Jacksonville, FL (JAX)
$20 a day in:  Los Angeles, CA (LAX)
$18 a day in:  Kansas City, MO (MCI)
$26 a day in:  Chicago, IL (MDW)
$26 a day in:  Pensacola, FL (PNS)
$24 a day in:  Providence, RI (PVD)
$18 a day in:  Raleigh-Durham, NC (RDU)
$26 a day in:  Ft. Myers, FL (RSW)
$20 a day in:  Savannah, GA (SAV)
$20 a day in:  Orange County, CA (SNA)
$26 a day in:  Tampa, FL (TPA)
$26 a day in:  Tucson, AZ (TUS)

To receive continental.com Specials discounted rates, simply make advance reservations and be sure to request ID # 596871 and Rate Code 33. Book your reservation online at:
http://continentalairlines.rsc01.net/servlet/cc4?JHEVBX*llJhmmZQLgkhgEJht*z*BA
or contact Alamo at 1-800 GO ALAMO.

*If you are traveling to a city or a different date that is not listed, Alamo offers great rates when you book online at:
http://continentalairlines.rsc01.net/servlet/cc4?JHEVBX*llJhmmZQLgkhgEJht*z*CA
For complete details on these offers, please refer to Alamo's terms and conditions below.

****************************************
6. CONTINENTAL.COM SPECIALS FROM NATIONAL CAR RENTAL

Rates listed below are valid on intermediate class vehicles at airport locations only. Other car types may be available. Rates are valid for rentals on Saturday, January 12 with returns Monday, January 14 or Tuesday, January 15, 2002.
------------------------------------------
$29 a day in:  Albuquerque, NM (ABQ)
$23 a day in:  Austin, TX (AUS)
$26 a day in:  Hartford, CT (BDL)
$20 a day in:  Birmingham, AL (BHM)
$21 a day in:  Nashville, TN (BNA)
$25 a day in:  Boston, MA (BOS)
$30 a day in:  Baton Rouge, AL (BTR)
$23 a day in:  Cleveland, OH (CLE)
$21 a day in:  Dallas, TX (DAL)
$19 a day in:  El Paso, TX (ELP)
$29 a day in:  Newark, NJ (EWR)
$21 a day in:  Houston, TX (IAH)
$26 a day in:  Indianapolis, IN (IND)
$21 a day in:  Jackson, MS (JAN)
$29 a day in:  Jacksonville, FL (JAX)
$23 a day in:  Los Angeles, CA (LAX)
$23 a day in:  Midland/Odessa, TX (MAF)
$21 a day in:  Kansas City, MO (MCI)
$29 a day in:  Chicago, IL (MDW)
$29 a day in:  McAllen/Rio Grande Valley, TX (MFE)
$21 a day in:  Manchester, NH (MHT)
$23 a day in:  Oakland, CA (OAK)
$29 a day in:  Pensacola, FL (PNS)
$20 a day in:  Raleigh-Durham, NC (RDU)
$24 a day in:  Rochester, NY (ROC)
$29 a day in:  Ft. Myers, FL (RSW)
$23 a day in:  Savannah, GA (SAV)
$23 a day in:  Louisville, KY (SDF)
$23 a day in:  Orange County, CA (SNA)
$29 a day in:  Tampa, FL (TPA)

To receive continental.com Specials discounted rates, simply make your reservations in advance and be sure to request Product Code COOLUS. To make your reservation, contact National at 1-800-CAR-RENT (1-800-227-7368), or book your reservation online at:
http://continentalairlines.rsc01.net/servlet/cc4?JHEVBX*llJhmmZQLgkhgEJht*z*DA
Please enter COOLUS in the Product Rate Code field, and 5037126 in the Contract ID field to ensure you get these rates on these dates.

* If you are traveling to a city or a different date that is not listed, National offers great rates when you book online at:
http://continentalairlines.rsc01.net/servlet/cc4?JHEVBX*llJhmmZQLgkhgEJht*z*VUA
For complete details on these offers, please refer to National's terms and conditions below.

****************************************
CONTINENTAL.COM SPECIALS RULES:
Fares include a $37.20 fuel surcharge.  Passenger Facility Charges, up to $18 depending on routing, are not included. Up to $2.75 per segment federal excise tax, as applicable, is not included.  Applicable International and or Canadian taxes and fees up to $108, varying by destination, are not included and may vary slightly depending on currency exchange rate at the time of purchase. For a complete listing of rules please visit:
http://continentalairlines.rsc01.net/servlet/cc4?JHEVBX*llJhmmZQLgkhgEJht*z*VVA

ALAMO RENT A CAR'S TERMS AND CONDITIONS:
Taxes (including VLF taxes up to US$1.89 per day in California and GST), other governmentally-authorized or imposed surcharges, license recoupment fees, fuel, additional driver fee, drop charges and optional items (such as CDW Waiver Savers(R) up to US$18.99 a day,) are extra. Renter must meet standard age, driver and credit requirements. Rates higher for drivers under age 25. Concession recoupment fees may add up to 14% to the rental rate at some on-airport locations. Up to 10.75% may be added to the rental rate if you rent at an off-airport location and exit on our shuttle bus. Weekly rates require a 5-day minimum rental or daily rates apply. For weekend rates, the vehicle must be picked up after 9 a.m. on Thursday and returned before midnight on Monday or higher daily rates apply. 24-hour advance reservation required. May not be combined with other discounts. Availability is limited. All vehicles must be returned to the country of origin. Offer not valid in San Jose, CA.

NATIONAL CAR RENTAL TERMS AND CONDITIONS:
Customer must provide Contract ID# at the time of reservation to be eligible for discounts. Offer valid at participating National locations in the US and Canada. Minimum rental age is 25. This offer is not valid with any other special discount or promotion. Standard rental qualifications apply. Subject to availability and blackout dates. Advance reservations required. Geographic driving restrictions may apply.

TERMS AND CONDITIONS FOR WESTIN, SHERATON, FOUR POINTS,
ST. REGIS, THE LUXURY COLLECTION, AND W HOTELS:
Offer is subject to availability. Advance Reservations required and is based on single/double occupancy. Offer not applicable to group travel. Additional Service charge and tax may apply. The discount is reflected in the rate quoted. Offer valid at participating hotel only. Offer valid for stays on Fri - Mon with a Friday or Saturday night arrival required. Rate available for this coming weekend only. Offer available only by making reservations via the internet. A limited number of rooms may be available at these rates.

---------------------------------------
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- 171_180PIP_Language.zip


Eric,
    Julie has asked to take vacation on Friday, so we'll need Susan to cover phones, faxes, and general office business on Friday until 6:00 Eastern/ 5:00 Central.  Based on our efforts in Washington this week, Friday could be a very busy day.

Dan


FYI

Vince
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 01/17/2000
12:48 PM ---------------------------

Tanya Tamarchenko
01/17/2000 09:27 AM
To: Vince J Kaminski/HOU/ECT@ECT, Vladimir Gorny/HOU/ECT@ECT, Debbie R
Brackett/HOU/ECT@ECT, Jonathan Le/HOU/ECT@ECT, Ronnie Chahal/HOU/EES@EES, Alex
cc:
Subject: Re: brainstorming Full Requirements Deals modeling

Hi, everybody,
you are invited to meet at 3:30 tomorrow, 1/18/00 in 1938 (Research area) to
discuss
Full Requirements Deals modeling.

See you there,

Tanya.


Beth,

Congratulations. Well deserved.

Vince


I thought that you would enjoy reading this article about Chad's school.  My editorial notes are added in red.  Keeping watching www.houstonisd.org/bushes for when they post pictures of the event.

AWESOME VISIT
On Friday, October 19, President George H. W. Bush and Barbara Bush visited our school. The Bushes had pledged to match the donation that our students made to the children of Afghanistan. Right in front of the entire student body, President Bush whipped out his checkbook and wrote a personal check for $1, 147.00! The children were very impressed!
The day was fabulous, the weather could not have been better, and our children were stellar! The program took place on the stage in the interior courtyard of the school. Because the weather permitted us to use this area, every student was able to take part in the program and enjoy the excitement!
As the President and Mrs. Bush entered the stage, the children waved paper dollars in the air to greet them. The program opened with the singing of the school song. Carmen Sullivan gave a history of the Pledge of Allegiance to the flag and Kelly Iko (this is our Kelly from Sunday School -- whom I'm sure will be the first minority President of the United States)  led the group in the Pledge. The students sang God Bless America and waved individual flags. Not an eye was dry! It was awesome.
Maggie Strange, Julius Liu, Danny Siso and Brandi Shallenberger told the group about the effort the Bush students had put forth to collect money for the Afghan children. Doris Reese, Joan Zhang (this is a sweet little girl from Chad's class) , and Andrew Nelson wheeled in a red wagon with the students' contribution! The program closed with more flag waving and the singing of It's a Small World.


These documents need to have the correct directors names added so they can be signed first thing in the morning.

 -----Original Message-----
From: 	trish.lindloff@weil.com@ENRON
Sent:	Wednesday, November 07, 2001 6:12 PM
To:	kbristor@skaddan.com
Cc:	Taylor, Mark E (Legal); stuart.ogg@weil.com
Subject:	Consents of Contribution of Note

Per your request, attached please find Written Unanimous Consents for each
of Enron North America Corp., Risk Management & Trading Corp. and ERMT LLC
with respect to the contribution of the promissory note made by ERMT Canada
Corp.

Please feel free to contact me with any questions.  You can reach me at
(713) 546-5018.

Regards,
Trish Lindloff

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

(Unanimous Written Consent of ENA [contribution of Note]) (See attached
file: 601801!.DOC)
(Resolutions of RMT [contribution of Note]) (See attached file:
601@01!.DOC)
(Resolutions of ERMT LLC [contribution of Note]) (See attached file:
601b01!.DOC)
 - 601801!.DOC
 - 601@01!.DOC
 - 601b01!.DOC


David, I'm not sure there is any value to this for EES North America. There
are well known and documented controls and process issues in the mid, back
and risk offices of the company.  We are working quickly to rectify  -
servicing your needs at the same time would slow us down.  On the European
side, I would like your perspective on their controls and business.

Regards
Delainehy
---------------------- Forwarded by David W Delainey/HOU/ECT on 02/15/2001
07:03 PM ---------------------------
From: David Port@ENRON on 02/15/2001 02:32 PM
To: David W Delainey/HOU/ECT@ECT, Janet R Dietrich/HOU/ECT@ECT
cc:
Subject: "Doorstep Reviews" - EES

No doubt you will have heard of this initiative - a program of "surprise"
quick controls reviews at various business units.
There are two such reviews coming up in March in relation to EES (London and
Houston), where I suspect the element of surprise would be outweighed by
having some good early input to the scope.

Let me know your thoughts.

Rgds
DP


Ruth,

Per Gerald Nemec's request, attached are the disclosure letter agreements for
Pastoria.  We are forwarding executables to you.

Thanks,

Eric Gillaspie
713-345-7667
Enron Building 3886


I can't believe you aren't going to be here for New Year's Eve!!!


I will be there.


William Delp
304 Hudson St
New York, NY 10013-1015
bildel@muze.com

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,

William Delp


John, etal --

Not sure if there is any real "issue" we can push.  Maybe something on the P/L side (see Joe Hartsoe).  Clearly this idea that RTOs will be anti-security is mistaken - it just implies that there should be redundancy of systems.

Jim

-----Original Message-----
From: Shelk, John
Sent: Tuesday, September 18, 2001 9:52 AM
To: Steffes, James D.; Terry Allen (E-mail)
Cc: Robertson, Linda
Subject: FW: Terrorism Package

Jim--

Please see e-mail traffic below on any ideas we have for anti-terrorism efforts that might help us on electricity grid management issues.  Any ideas beyond my initial attempt below?

John

P.S.  The monopoly utilities are already saying that forcing large RTOs is bad at this time because we shouldn't be making such massive and complicated changes to the the electric system at a time of war.

-----Original Message-----
From: Robertson, Linda
Sent: Tuesday, September 18, 2001 10:47 AM
To: Shelk, John
Subject: RE:

Do want to follow up with Steffes and Terry Allen?

-----Original Message-----
From: Shelk, John
Sent: Tuesday, September 18, 2001 10:39 AM
To: Robertson, Linda
Subject: RE:

The first thing that comes to mind is a directive from Congress to FERC and/or DOE to conduct  a rulemaking on "gride management" that essentially recasts the "Large RTO" plan as a security/grid management plan, etc.

-----Original Message-----
From: Robertson, Linda
Sent: Tuesday, September 18, 2001 10:31 AM
To: Shelk, John
Subject: FW:

thoughts?

-----Original Message-----
From: Terry Allen [mailto:tallen@buckham.com]
Sent: Tuesday, September 18, 2001 10:24 AM
To: Robertson, Linda
Cc: Ed Buckham; Karl Gallant (E-mail)
Subject:

Linda,

Regarding the grid safety issue, you will remember that I mentioned
yesterday that Saxby Chambliss has been tapped by the Speaker to coordinate
the terrorism package. I spoke with Krister Holladay of Chambliss' office
today, who is staffing that effort and he said he would be more than happy
to look at any and all proposals and suggestions that we have on grid
safety. He hasn't seen anything yet on this issue and would welcome our
input.

If the folks in Houston can identify two or three (or more) things that can
be done to enhance safety that also move grid management in the direction we
want it to go generally, this will be a fine opportunity to broaden our
coalition on transimission / rto's.

It looks like we have an open door here. Let me know what you want me to do.

Terry

Terry Allen
Alexander Strategy Group
1300 Pennsylvania Ave. N.W.  Suite 700
Washington, DC   20004
O. 202.204.3071
tallen@buckham.com


Barry,

Stinson forwarded your message to me. I am meeting Ted Murphy today and I
shall bring it up with him.
We have unit at Research (Tanya Tamarchenko, reporting to Grant Mason) who is
responsible for
 V@R support.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 06/29/2000
10:28 AM ---------------------------

Stinson Gibner
06/29/2000 09:55 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: EBS VaR Transaction Policy

FYI

---------------------- Forwarded by Stinson Gibner/HOU/ECT on 06/29/2000
09:54 AM ---------------------------

	Barry Pearce @ ENRON COMMUNICATIONS
	06/29/2000 09:09 AM

To: Stinson Gibner/HOU/ECT@ECT, Dale Surbey/LON/ECT@ECT, Ted
Murphy/HOU/ECT@ECT
cc: Lou Casari/Enron Communications@Enron Communications, John Echols/Enron
Communications@Enron Communications, Jim Fallon/Enron Communications@Enron
Communications
Subject: EBS VaR Transaction Policy

Hey you guys,

We are trying to implement a 'VaR transaction' policy - and would like your
opinion.

This is going to be tough - because I'm not sure we have implemented a
similiar policy across any of our other 'books' - that is - we looking to
bring in all the accrual/operational assets as well as the MTM stuff
(lambdas). To have a real-live 'configuration' of the system.

If assets/routes/servers etc...are added - what is the impact on the 'value'
of the system and what it's worth.

John has attached a draft below - for your review and thoughts.

I can see how this works in a trading environment - when you actually know
the VaR of your whole trading portfolio. However - I've not seen this done
with a mixture of MTM & accrual assets. Add the spice of a 'operational
system' valuation  - and this will be tough to quantify and model.

Step 1 - configure system and value it
Step 2 - calculate a VaR on this. We will need to do some work here!
Step 3 - calculate the incremental VaR of new deals/amendements/reconfigs etc
- tough....

See what you think?

B.

	John Echols
	06/28/00 05:41 PM

		 To: Jim Fallon/Enron Communications@Enron Communications, Barry Pearce/Enron
Communications@Enron Communications, Lou Casari/Enron Communications@Enron
Communications
		 cc:
		 Subject: Policies

Here is a first rough draft of a "value @ risk" transaction policy.

I would like you to start looking at where we are going on the policy and get
some early thinking going on limits for the V@R.  For example, should we
effectively shut down all server relocations without approval,  or allow some
level of MB of storage to be moved around or reconfigured?

I need some commercial and industry realism for this.  We may need Rick
Paiste or your industry helpers (Marquardt, etc. to help us).

Barry,  Lou,  I need your input.


please print
---------------------- Forwarded by Jeffrey A Shankman/HOU/ECT on 12/27/2000
10:53 AM ---------------------------

Sarah Mulholland
12/21/2000 09:00 AM
To: Jeffrey A Shankman/HOU/ECT@ECT, Jennifer Burns/HOU/ECT@ECT, Mike
McConnell/HOU/ECT@ECT, Mario de la Ossa/NA/Enron@ENRON, David J
Botchlett/HOU/ECT@ECT, John L Nowlan/HOU/ECT@ECT
cc: Jennifer Fraser/HOU/ECT@ECT, Heather Purcell/NA/Enron@ENRON, John
Arnold/HOU/ECT@ECT
Subject: Investment Banking Reports

Attached are the weekly IB reports.  Since I'm in London there will be no
hard copies this week and hopefully it will be up on the EGM Website this
afternoon.  If you'd like copies of the full reports themselves, please just
email me and I'll figure out a way to get them to you.  Everyone have a great
holiday.

Sarah


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We apologize for any email you may have inadvertently received
Please CLICK HERE  to be removed from future mailings.


Let me know if you ever sign off on any bridges or buildings so I can stay the
hell away from them.  Remember I took classes with you I know better.
Congrats
from just an "EIT".   Kyle

"Glover, Rusty" <rglover@halff.com> on 01/31/2000 05:13:48 PM

To:   'Camille Davis' <kcdavis@pdq.net>
cc:   "ROCHELLE (E-mail)" <AggieEngineer@email.msn.com>, "CHERYL (E-mail)"
      <ckhalla@swbell.net>, "DAREN (E-mail)" <DFARMER@ECT.ENRON.COM>, Kyle
      Kubin/NGCCorp@NGCCorp, "FENNY (E-mail)" <clay@ectisp.net>, "ED (E-mail)"
      <EDCOM@TEXAS.NET>, "GREG (E-mail)" <glover@neto.com>

Subject:  RE: License

TO ALL:

     WELL, LET ME TELL IT TO YOU LIKE THIS!  I WILL NEVER EVER EVER HAVE
TO STUDY FOR ANOTHER FRICKEN EXAM!  HELL YES I PASSED THAT S.O.B.  I ABOUT
DIED WHEN I OPENED THE ENVELOPE B/C I COULDN'T BELIEVE IT!  I AM NOW RUSTY
R. GLOVER, P.E.!  I PROBABLY WON'T KNOW YOU NEXT TIME I SEE YOU!  MY HEAD
WAS SO BIG THIS MORNING I COULD BARELY MAKE IT THROUGH THE DOOR!

LATER,

RUSTY R. GLOVER, P.E.

-----Original Message-----
From: Camille Davis [mailto:kcdavis@pdq.net]
Sent: Monday, January 31, 2000 1:59 PM
To: Glover, Rusty
Subject: License

Did you past your test???

Camille

 - att1.htm


fyi...
 -----Original Message-----
From: 	CustomerNotices, WGPHOU [mailto:WGPHOU.CustomerNotices@Williams.com]
Sent:	Thursday, January 17, 2002 10:18 AM
Subject:	TETCO Electric Power Cost Adjustment Effective 02/01/02

January 17, 2002

To: S-2 Customers

Re: TETCO Electric Power Cost Adjustment Effective 02/01/02

On December 27, 2001 Texas Eastern Transmission Corporation
(TETCO) filed revised tariff sheets in Docket No. RP02-131 to
reflect its Electric Power Cost Adjustment.  Included in the
filing were revised rates under TETCO's Rate Schedule X-28 which
Transco uses to render service under its Rate Schedule S-2.  The
revised rates have a proposed effective date of February 1, 2002,
and if accepted as proposed would result in the following changes
in Transco's Rate Schedule S-2 rates:

Demand Rate - $0.0270 increase
Demand Charge Adjustment - $0.0021 increase
Withdrawal Rate - $0.0008 increase

Please refer any questions to Mike Heeney, Rate Department, at
(713) 215-2424.


Stephanie:  I sent you a request last week for Gregg.  Could you please send
Gregg the boilerplate?  Thanks.  Sara
----- Forwarded by Sara Shackleton/HOU/ECT on 08/28/2000 04:20 PM -----

	Gregg Penman@ENRON
	08/28/2000 02:02 PM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: Re: Gregg Penman in our Chicago office

Sara - I still have not received the ISDA Master or Credit Support Annex.
Could you please let me know the status?  Thanks for your help.

Gregg

From: Sara Shackleton@ECT on 08/23/2000 05:22 PM
To: Stephanie Panus/NA/Enron@Enron, Gregg Penman/Corp/Enron@Enron
cc:
Subject: Gregg Penman in our Chicago office

Stephanie:  Please send the boilerplate ISDA Master Agreement and Credit
Support Annex to Gregg Penman in our Chicago office.  Thanks.  Sara


----- Forwarded by Jeff Dasovich/NA/Enron on 03/13/2001 05:46 PM -----

	Jean Munoz <jmunoz@mcnallytemple.com>
	03/13/2001 05:47 PM

		 To: Katie Kaplan <kaplan@iepa.com>, "'Andy Brown (E-mail)'"
<ABB@eslawfirm.com>, "'B Brown Andy (E-mail)'" <andybrwn@earthlink.net>,
"'Baker Carolyn (E-mail)'" <cabaker@duke-energy.com>, "'Bob Escalante
(E-mail)'" <rescalante@riobravo-gm.com>, "'Bob Weisenmiller (E-mail)'"
<rbw@mrwassoc.com>, "'Curtis Kebler (E-mail)'"
<curtis_l_kebler@reliantenergy.com>, "'Douglas Kerner (E-mail)'"
<DKK@eslawfirm.com>, "'Greg Blue (E-mail)'" <gtbl@dynegy.com>, "'Jan
Smutny-Jones (E-mail)'" <smutny@iepa.com>, "'Jeff Dasovich (E-mail)'"
<Jeff.Dasovich@enron.com>, "'Joe Ronan (E-mail)'" <joer@calpine.com>, "'John
Larrea (E-mail)'" <john.g.larrea@williams.com>, "'John Stout (E-mail)'"
<John_H_Stout@reliantenergy.com>, "'Julee Malinowski-Ball (E-mail)'"
<jmball@ns.net>, "'Kassandra Gough (E-mail)'" <kgough@calpine.com>, "'kent
Palmerton (E-mail)'" <kent.palmerton@williams.com>, "'Kristin Vellandi
(E-mail)'" <kvellandi@pstrategies.com>, "'Lynn Lednicky (E-mail)'"
<lale@dynegy.com>, "'Marty Wilson (E-mail)'" <mwilson@pstrategies.com>,
"'McNally Ray (E-mail)'" <rmcnally@mcnallytemple.com>, "''Nam Nguyen'
(E-mail)'" <nam.nguyen@powersrc.com>, "'Norton Kelli (E-mail)'"
<knorton@mcnallytemple.com>, "'Paula Hall-Collins (E-mail)'"
<paula.hall-collins@williams.com>, "'Pigott Jack (E-mail)'"
<jackp@calpine.com>, "'Richard Hyde (E-mail)'" <rwhyde@duke-energy.com>,
"'Rob Lamkin (E-mail)'" <rllamkin@seiworldwide.com>, "'Roger Pelote
(E-mail)'" <roger.pelote@williams.com>, "'Stephanie-Newell (E-mail)'"
<stephanie-newell@reliantenergy.com>, "'Sue Mara (E-mail)'"
<smara@enron.com>, "'Theo Pahos (E-mail)'" <tpahos@ppallc.com>, "'Tom Ross
(E-mail)'" <tross@mcnallytemple.com>, "Carol H Hudson (E-mail)"
<Chudson@iepa.com>, steven kelly <steven@iepa.com>, "'Anne Kelly (E-mail)'"
<kelly@hnks.com>, "'Chuck Cole (E-mail)'" <ccole@advocation-inc.com>,
"'Delany Hunter (E-mail)'" <dhunter@smithandkempton.com>, "'DJ Smith
(E-mail)'" <djsmith@smithandkempton.com>, "'Hedy Govenar (E-mail)'"
<hgovenar@acom2.com>, <mmoretti@mccabeandcompany.net>, "'Maureen OHaren
(E-mail)'" <Oharen@hmot.com>, "'Mike Monagan (E-mail)'" <mrmonagan@aol.com>,
"'Phil Isenberg (E-mail)'" <isenberg@hmot.com>, "'Robert Ross (E-mail)'"
<robbiz@cwo.com>, "'Ron Tom (E-mail)'" <Rtom@govadv.com>, "'Scott Govenar
(E-mail)'" <sgovenar@govadv.com>, "'Susan Mccabe (E-mail)'"
<sfmccabe@mindspring.com>, <rtemple@mcnallytemple.com>,
<megan.beiser@edelman.com>, <tracy.fairchild@edelman.com>,
<deborah.fiorito@dynegy.com>, <tcwillia@duke-energy.com>
		 cc:
		 Subject: CA Secretary of State Bill Jones Denounces "Free-Wheeling Energy
Spending Spree"

JONES DENOUNCES LACK OF OVERSIGHT AND ACCOUNTABILITY
OVER MONTHS OF FREE-WHEELING ENERGY SPENDING SPREE
CALLS FOR STATE CONTROLLER TO AUDIT ALL ENERGY-RELATED EXPENSES AND
CONTRACTS; URGES GOVERNOR TO BEGIN MONTHLY BRIEFINGS WITH LEGISLATIVE
BI-PARTISAN LEADERSHIP ON PROGRESS OF POWER PLANT CONSTRUCTION AND DETAILS OF
LONG-TERM CONTRACTS

LOS ANGELES - Denouncing the fact that there is currently no oversight or
accountability for the billions of taxpayers' dollars that are being spent by
the Governor and his administration, Secretary of State Bill Jones totals
called on State Controller Kathleen Connell to begin an immediate full and
complete audit of all energy-related financial transactions. As chief
financial of officer for the state, the controller has the sole
responsibility to "provide sound fiscal control over both receipts and
disbursements of public funds and to determine legality and accuracy of every
claim against the state."

"There is no oversight and no accountability to ensure that the taxpayers'
money is being spent wisely," Jones sad. "The enormous outlays of money to
purchase energy on a daily basis as well as these binding long-terrn
contracts will have a tremendous fiscal impact on the state for years to come
- I believe essentially, mortgaging our future for our children and
grandchildren."

Additionally, Jones called on Governor Davis to immediately meet with
legislative bi-partisan leaders to brief them fully as to the terms and costs
of all contracts and purchases on the spot market just as the President's
team meets with congressional leaders to discuss issues of
national security.

Jones also strongly urged the Governor to begun monthly briefings immediately
wth legislative leaders to provide on-going updates on the progress of new
power plant construction and an up-to-date report of California's power
supplies to ensure adequate resources for the upcoming summer months

"The Governor believes that the solution to our energy crisis lies in the
state getting into the power business - I do not. As a result, Davis has
created a de-facto state Power Authority that's spending cash at an alarming
rate, some $45 million a day; $1.5 billion a month," said Jones. "And he's
just signed the state up for some $43 billion in long-tern contracts for
which we don't know the terms, length or total energy supply secured."

Jones noted that when the utility companies were regulate the Public
Utilities Commission (PUC) had the responsibility to look over their shoulder
and ensure that the ratepayers were protected and fairly treated. Yet all the
governmental agencies that should be looking into the energy spending spree
are now controlled or appointed by the govemor, including the PUC, the Little
Hoover Commission, the Electricity Oversight Board, the Department of
Finance, the Resources Agency, the Department of Water Resources, the Energy
Commissions the Independent Systems Operator and the now-defunct Power
Exchange.

According to a recent Wall Street Journal article (3/08/01), David Mills,
trading floor manager of the Bonneville Power A.dndnistation questioned
Califomia's purchases on the spot market, saying that the water agency
[California Departnent of Water Resources] has at times offered to pay $50 to
$100 per megawatt hour more than the available market price." Mills added
that power buyers for the state "agree to prices that make you wonder ? you?d
at least think they?d check to see what the prevailing price is before
throwing out their offer."

"As President Bush has said so often, it's not the government's money, it's
the people's money" Jones sad.  "The people of California deserve to know
what the terms of this high-stakes energy game are since it's being played
with taxpayers' money."

Jones criticized the governor?s repeated refusal to fulfill numerous Public
Records Act requests from Assemblyman Tony Strickland (R-Thousand Oaks),
several news media and other organizations, calling his denial for
information based on a government code provision regarding protection of the
"public interest " an assault on the public's common sense.

"I believe that the real @public interest' lies in a full accounting to the
public of how the Governor has spent their money - and what kind of a deal
we're actually getting," Jones concluded.

#       #    #


We have upgraded the web site and it the newer version now is on a new server.  The transition should be very smooth as it is identical on face value to the existing site.  Please note the new link and replace your current favorites entry with this one.

http://eastpower.test.corp.enron.com/portal/

We will run both sites in parallel for the next week.  Barring any major complications the current site will go down next Friday  Sept. 21 afternoon.

Thanks
Mark Symms
Intranet Team Lead
Sr. Specialist - East Power
713-853-3105


John Brindle, David Cromley and others in the Corporate Business Controls
group (formerly part of EBS) have been working over the last several weeks to
make sure that we can get our people out of Dabhol if there are threats to
their safety.  While no plan is perfectly reliable (particularly during
monsoon season) we believe that we are as ready as we can be.
---------------------- Forwarded by Steven J Kean/NA/Enron on 06/13/2001
08:00 AM ---------------------------
From: David Cromley@ENRON COMMUNICATIONS on 06/12/2001 09:18 AM
To: Steven J Kean/NA/Enron@Enron
cc:

Subject: Enron Expatriates in India

Steve,

I wanted to give you the latest figures on Enron expatriates in India.  There
are currently 19 Enron expatriate employees based in India, accompanied by
six dependants.  In addition, Enron has responsibility for 15 expatriate
contractors working for DPC and Lingtec, primarily at Dabhol.  The total of
40 expatriates for whom Enron is directly responsible is broken down by
location as follows:  21 in Mumbai, 16 at Dabhol, and three in Baroda.  By
company, they are broken down as follows:  Enron India -  eight plus three
dependants; EOGIL - nine plus one dependant; EBS - one plus two dependants;
DPC - seven; and Lingtec - nine.  These figures are likely to continue to
trend downward; Jane Wilson's departure on Friday, for example, will reduce
the Enron India expatriate presence to seven plus three dependants.

We are confident that the evacuation plan now in place provides the best
possible prospect of successfully evacuating all of these expatriates in the
event of danger.  As a contingency, the plan also includes the evacuation of
all 137 expatriates working at the Dabhol site, although a large-scale
evacuation from Dabhol is more problematic, especially now that the monsoon
season has started.  A coordinated plan was needed since the limited number
of available helicopters meant that the evacuation plans drawn up by
individual contractors such as Bechtel were all drawing upon the same
resources.

As you know, Enron's security situation in India remains stable.  We are in
the final stages of implementing security upgrades for our employees and
offices there.

Dave


Jennifer,
A couple of Allegheny gas folks will be in Houston this Wednesday to meet
with Chris Meyer and Mitch Robinson. We are still trying to get the key
members from Enron up to Greensburg but no definitive plans have been
reached. I will keep you in the loop as things progress.
Thanks,
Ross

Jennifer Walker@ENRON
12/11/2000 10:43 AM
To: Benjamin Rogers/HOU/ECT@ECT, Ross Newlin/HOU/EES@EES
cc:
Subject: Allegheny Meeting this week

Ben and Ross:
I briefly spoke with Don Miller this morning and he mentioned that the
Transition Team meeting with Allegheny may take place this Thursday. Please
let me know if there's anything you need me to do to help coordinate this
effort.

Thanks,
Jennifer
x3-9964

Benjamin Rogers@ECT
12/07/2000 01:16 PM
To: Don Miller/HOU/ECT@ECT, Mitch Robinson/Corp/Enron@Enron, Ross
Newlin/HOU/EES@EES, Stuart Zisman/HOU/ECT@ECT, Chris Meyer/HOU/ECT@ECT, Jim
Homco/HOU/ECT@ECT, Bernie Robinson/Corp/Enron@Enron, Merle
Churchill/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Chris
Norris/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Pete
McCormick/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Gus Eghneim/Corp/Enron@Enron,
Bill Rust/HOU/ECT@ECT, Jennifer Walker/NA/Enron@Enron, Eric
Thode/Corp/Enron@ENRON, Lloyd Will/HOU/ECT@ECT
cc:

Subject:

Everyone:
Attached is the list of the preliminary Allegheny/Enron transition team
members for the 2000 Peaker assets.  If you think you should not be on it or
that someone else is better suited for the task then please let me know.
Please check over the information to make sure everything is correct.  We are
trying to plan for a kick-off meeting with Allegheny within the next couple
of weeks.  Thanks for your assistance with this very important project.
Regards,

Ben Rogers
3-7998


---------------------- Forwarded by Patrice L Mims/HOU/ECT on 11/20/2000
12:58 PM ---------------------------

"eToys News for You" <newsforyou@etoys.rsvp0.net> on 11/20/2000 06:44:17 AM
Please respond to "eToys News for You" <newsforyou@etoysnews.etoys.com>
To: PMIMS@ENRON.COM
cc:
Subject: Exclusive Thanksgiving Sale Sneak Peek--and More!

Dear Patrice Thurston,

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shop for your holiday. Get an exclusive sneak peek at our Thanksgiving Sale
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You can only get to our Thanksgiving Sale sneak peek from this e-mail,
from now until Wednesday, Nov 22. Hundreds of toys are on sale and in
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If you'd prefer not to receive these e-mail updates, please let us know, or
cut and paste the following link into your browser:
http://www.etoys.com/exec/subscribe?home=unsub&email_address=PMIMS@ENRON.COM


I am currently working on a form for the master netting without the CSA.  It is somewhat complicated--so if you have such a request, please await the new form.  Do not try to do it yourself.  Thank you.

Cordially,
Mary Cook
Enron North America Corp.
1400 Smith, 38th Floor, Legal
Houston, Texas 77002-7361
(713) 345-7732
(713) 646-3393 (fax)
mary.cook@enron.com


Sherri,

Can you let Jeff know that the attached memo is going to go out tonight under
his name.  Steve Kean, Cindy Olson and legal have signed off on it.  If you
or he have any questions or concerns, please call me at 53231.

Thanks,
Karen


AES Expresses Interest in Enron's India Project
The Wall Street Journal, 06/28/01

California Energy Firm Subsidiary Puts Rockville, Md., Headquarters on Hold
KRTBN Knight-Ridder Tribune Business News: The Washington Times - Washington,
D.C., 06/28/01

World-Wide
The Wall Street Journal, 06/28/01

INDIA: AES interested in Enron's Indian power plant.
Reuters English News Service, 06/28/01

Bush kicks off summer of fund raising with $20 million dinner
Associated Press Newswires, 06/28/01

INDIA: Japan bank may invoke Enron loan guarantee-paper.
Reuters English News Service, 06/28/01

India: Reinsurance rates rise 20 pc
Business Line (The Hindu), 06/28/01

U.S. firm enters local energy market
Lethbridge Herald, 06/28/01

Investigators may seek contempt sanctions against power generators
Associated Press Newswires, 06/27/01

State energy crisis may imperil future of deregulation, consumer choice
Associated Press Newswires, 06/27/01

Impact: Why Won't Vice President Cheney Say Who He Got Advice From on the
Energy Crisis?
Fox News: The O'Reilly Factor, 06/27/01

Senators Ask Army Chief to Step Away From Energy Issue
Dow Jones Business News, 06/27/01

UK: Companies prepare European gas trading contract.
Reuters English News Service, 06/27/01

International
AES Expresses Interest in Enron's India Project
By Daniel Pearl
Staff Reporter of The Wall Street Journal

06/28/2001
The Wall Street Journal
A13
(Copyright (c) 2001, Dow Jones & Company, Inc.)

BOMBAY, India -- Power giant AES Corp. said it "would consider getting
involved" with rival Enron Corp.'s $3 billion Dabhol Power Co. project in
India, but Dabhol's backers so far don't see AES as a serious contender to
buy out the troubled electricity venture.
The 740-megawatt Dabhol project hasn't produced power for more than a month,
because of a payment and tariff dispute between the company and its sole
customer, the western industrial state of Maharashtra. Enron officials have
said it's unlikely any buyer would step in now, with Maharashtra insisting on
renegotiation of the project's 1,444-megawatt second phase and contractors
delaying its completion because of unpaid bills.
"We don't see that opportunity now," agreed Surender Singh, AES's executive
director in India. "They have to get [the dispute] resolved first." But he
added, "We are not denying we have an interest."
In a statement issued in India yesterday, AES said it has made "no formal
proposal to any stakeholders at this stage," but Mr. Singh wouldn't comment
on reports that the company had talked with one of Dabhol's lenders. He also
said AES wouldn't consider buying into the project unless it gained
management control.
Houston-based Enron has been trying without luck to sell a 15% stake in
Dabhol. Enron holds 65%, and the rest is split among General Electric Co.,
Bechtel Corp. and the cash-strapped government of Maharashtra. Enron is
believed to be looking for a way to leave the Dabhol project entirely.
The politically charged rate dispute appears increasingly to be heading for a
lengthy legal mediation, since Maharashtra is asking for much steeper tariff
reductions than Enron is willing to give. Also, Enron may wish to avoid
negotiating a new power-purchase agreement, which would allow a recently
formed state regulatory commission to claim jurisdiction over the project's
rates. The commission has already won the first round of a court battle
trying to assert its authority, though Dabhol is expected to appeal.
AES, Arlington, Va., is known for its willingness to take on political risks.
Still, some Dabhol officials worry that AES's vague expression of interest
will further muddy Enron's situation in India. The first of several local
newspaper articles quoting AES officials as wanting to take over Dabhol
appeared on June 16, just as Dabhol and its lenders were winding up a crucial
bargaining session with Maharashtra.

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

California Energy Firm Subsidiary Puts Rockville, Md., Headquarters on Hold
Chris Baker

06/28/2001
KRTBN Knight-Ridder Tribune Business News: The Washington Times - Washington,
D.C.
Copyright (C) 2001 KRTBN Knight Ridder Tribune Business News; Source: World
Reporter (TM)

The California energy crunch has forced a PG&E Corp. subsidiary to delay its
plan for a new $100 million headquarters in Rockville.
PG&E National Energy Group was expected to start construction this summer on
the 450,000-square-foot complex in Tower Oaks, a business campus off
Interstate 270.
The plans are now on hold because of financial problems within the parent
company that are rooted in the California power crunch, a spokesman said.
Another PG&E unit, Pacific Gas and Electric Co., filed for protection from
its creditors under Chapter 11 of the federal bankruptcy code in April. It
listed an $8.9 billion deficit.
That unit, which has 13 million customers in California, suffered when the
state changed its electricity regulations and the company was forced to buy
increasingly expensive wholesale power without the ability to pass the rising
costs to its customers.
"Even though our companies are completely separate, we believe it is prudent
to put the project on hold and focus on other parts of the business," said
David Mould, spokesman for National Energy Group.
The company develops and operates electric and gas power plants, and operates
one of the nation's largest energy-trading businesses.
It announced a new $550 million line of credit from several investment banks
last week and said in a statement it would use the money for working capital
and to "establish a credit identity that is independent of PG&E Corp."
National Energy Group currently occupies 320,000 square feet in Bethesda. It
has about 650 employees.
This summer, the company expected to begin construction in Tower Oaks on a
10-story office building with roughly 280,000 square feet and an adjacent
building with about 140,000 square feet.
Mr. Mould said he did not know when construction might begin, but that the
company is "still committed" to the project.
A spokesman for the Tower Cos., the north Bethesda group that is developing
Tower Oaks, declined to comment yesterday.
National Energy Group's decision to delay the project is "disappointing,"
said Stephen Christian, business development specialist for the Montgomery
County Department of Economic Development.
But the department, which helped National Energy Group plan the new
headquarters, believes the company will eventually get the project "back on
track," Mr. Christian said.
A spokesman for the Electric Power Supply Association said power companies
across the country are proceeding with expansion plans, even though some
government officials and industry leaders believe the problems in California
could signal a national energy shortage.
"The situation with PG&E is unique because of the situation in California,"
said Mark Stultz, vice president of public affairs and marketing for the
trade group, which represents power marketers and generators.
Energy giant Enron Corp. said yesterday it is nearing completion on a 1.2
million-square-foot addition to its headquarters in a Houston office tower.
Meanwhile, Orion Power Holdings Inc., a Baltimore company, said it still
plans to build new electric plants in Southern Maryland and Kentucky.
Other companies are planning plants in Fauquier and Loudoun counties in
Northern Virginia, although elected officials in those counties say they are
not needed.

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

What's News
World-Wide

06/28/2001
The Wall Street Journal
A1
(Copyright (c) 2001, Dow Jones & Company, Inc.)

The Army secretary was advised by Senate Armed Services panel members McCain
and Carnahan to recuse himself in decisions on utility contracts for bases.
Thomas White until this year was Enron's vice chairman.

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

INDIA: AES interested in Enron's Indian power plant.

06/28/2001
Reuters English News Service
(C) Reuters Limited 2001.

BOMBAY, June 28 (Reuters) - The Indian subsidiary of U.S. electricity firm
AES Corp on Thursday said it "would consider getting involved" in the
controversy-ridden Dabhol power project if an opportunity arose, but said it
had made no formal proposal so far.
U.S. energy giant Enron Corp could pull out of the $2.9 billion project as a
result of a bitter dispute with the Indian state utility that has contracted
to buy the power.
The wrangle had given rise to speculation that AES India could take over the
project from Enron's Indian subsidiary, Dabhol Power Corporation.
In a press statement, AES said it had neither made any formal proposal to
stakeholders nor received any.
AES was among the first global firms to enter India when its government
liberalised the power sector in 1992, and has so far invested a total $155
million in two separate projects.
In 1998, it purchased 49 percent of Orissa Power Generation Corporation, when
the eastern Indian state of Orissa's power assets were privatised.
In September 1999 it also acquired the Central Electricity Supply Company of
Orissa.
AES initially came into India intending to develop and operate a coal-fired
power plant in Orissa. But the project was delayed and is still under
development.
Enron's investment in the power plant, on the western coast of India, is the
country's single largest direct foreign investment.
But Dabhol Power Corporation and the Maharashtra State Electricity Board are
now in the midst of an acrimonious row that threatens to scupper the
high-profile project.
The power firm claims the state utility has reneged on its contractual
obligations by defaulting on payments, while the utility claims Dabhol has
also violated several clauses in the contract.
The dispute has brought bad publicity to Enron and hurt India's image among
foreign investors, including other global power firms which had eagerly
entered the potentially huge Indian power sector.
"The commitment and willingness of parties to a contract...is an important
consideration for our investment decision in any project," said AES's press
release.
"This is the basis for both our current investment and for any future
investment we may make in India or any other country."

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

Bush kicks off summer of fund raising with $20 million dinner
By SHARON THEIMER
Associated Press Writer

06/28/2001
Associated Press Newswires
Copyright 2001. The Associated Press. All Rights Reserved.

WASHINGTON (AP) - Republican lawmakers and donors partied around a giant "W"
at a presidential dinner that raised more than $20 million for GOP
congressional candidates.
The Wednesday night dinner opened what party officials say will be a summer
of fund raising by President Bush, first lady Laura Bush and Vice President
Dick Cheney for Republican House and Senate candidates.
The invitation offered those contributing $25,000 and up "the option to
request a member of Congress and their guest to complete your table of 10."
The biggest donors got a chance to mingle with President Bush and Cheney at a
predinner reception.
Bush thanked contributors profusely in an 18-minute speech that touched on
his policies on tax cuts, education and defense.
"Make no mistake about it: This dinner has one goal in mind, to make sure
Denny Hastert remains the speaker of the House and to make sure Trent Lott is
the majority leader of the United States Senate," he said.
More than 4,000 tickets were sold for the $2,500-per-plate event, topping the
record $11.7 million the GOP's House-Senate dinner took in last year, when
former President George H.W. Bush was the main speaker.
Donors in tuxedos and gowns dined and drank around a giant gold "W" that
reached to the rafters at the Washington Convention Center ballroom in honor
of President Bush. Grilled tenderloin, sweet potato and corn souffle and
assorted desserts were on the menu.
Those hoping for quality time with the president may have been disappointed.
He and Cheney left before the salad plates were cleared.
Hastert of Illinois, Lott of Mississippi and former House Speaker Newt
Gingrich of Georgia were among politicians mixing with contributors.
The dinner program listed dozens of corporate sponsors representing a wide
range of industries, including Microsoft, American Airlines, Philip Morris,
Enron, AT&T, Dow Chemical, Walt Disney and eBay, to name a few.
Bruce Gates, a lobbyist for the Health Benefits Coalition, was one of the
event's co-chairmen. The group of insurers and business associations is
fighting pending Senate legislation that would give patients broad rights to
sue their managed-care plans.
Co-chairman Jim Anderson of the National Association of Wholesaler
Distributors, which is also a Health Benefits Coalition member, dined at one
of the head tables with Cheney. Anderson said he has taken part in several
House-Senate dinners.
"We do it because we support the policies of this administration. We support
the policies of the Republicans in the House and Senate with respect to the
issues our members care about," Anderson said, citing taxes, labor-management
relations and health care.
The Republican and Democratic parties are both raising money at a record clip
for next year's battle over House and Senate control.
And both are rolling out star power - political and otherwise - to do it.
Wynonna Judd entertained donors at Wednesday's GOP fund-raiser. Roberta Flack
is performing at a $1 million Democratic National Committee event Thursday
night.
Former vice presidential candidate Joseph Lieberman is the featured guest at
the DNC fund-raiser. The Connecticut senator, Senate Majority Leader Tom
Daschle of South Dakota and former President Clinton have all headlined
Democratic fund-raisers in recent weeks and are expected to do more this
summer.
The Democratic Senatorial Campaign Committee is inviting big donors to spend
July 6-8 on the Massachusetts island of Nantucket dining and sailing with
Daschle and more than a dozen other senators. Those giving $20,000 in
federally regulated donations or $50,000 in unregulated "soft money" are
invited.
The McCain-Feingold campaign finance bill pending in Congress would ban the
large soft-money contributions the parties commonly take in at big
fund-raisers.
---
On the Net:
GOP congressional committees: http://www.nrsc.org; http://www.nrcc.org
Democratic committees: http://www.dccc.org; http://www.dscc.org

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

INDIA: Japan bank may invoke Enron loan guarantee-paper.

06/28/2001
Reuters English News Service
(C) Reuters Limited 2001.

BOMBAY, June 28 (Reuters) - The Japanese Bank for International Cooperation
(JBIC) has warned it may invoke the guarantee provided by Indian banks for
the foreign loan used to help build a $2.9 billion power plant which has quit
operating, an Indian financial daily reported on Thursday.
The Economic Times, citing unnamed sources, said the Japanese government-run
bank had "sounded a grim warning" during a meeting last week in Bombay with
officials of the Industrial Development Bank of India (IDBI), which often
serves as a representative of all Indian banks in this matter.
No IDBI official could be contacted to comment on the report.
The Economic Times said JBIC had a direct fund exposure of $258.21 million to
Dahbol Power Company (DPC), set up by Houston-based energy giant Enron Corp
to build a 2,184 MW power plant south of Bombay.
The newspaper said Indian institutions - IDBI, ICICI , State Bank of India
and IFCI - had guaranteed $524.24 million in foreign loans to the project,
work on which was halted earlier this month.
Generating capacity of 740 MW was completed in 1998, while a second phase
adding another 1,444 MW was almost complete when Bechtel and other
contractors ceased work on June 16.
DPC has been embroiled in a dispute with the cash-strapped state utility, the
Maharashtra State Electricity Board, which is the sole buyer of its power and
has defaulted on payments of $48 million to DPC.
The state utility stopped buying power from DPC in May.

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

India: Reinsurance rates rise 20 pc

06/28/2001
Business Line (The Hindu)
Copyright (C) 2001 Kasturi & Sons Ltd (KSL); Source: World Reporter (TM) -
Asia Intelligence Wire

BANGALORE, June 27. REINSURANCE rates for India have escalated by 20 per cent
during the last three months. This escalation comes after the premiums went
up by 50 per cent in March this year.
Industry sources attributed this to the rising claims from the power sector
and the increase in the potential for claims by the sector.
Such potential is estimated by the industry using a methodology called the
"Probable Maximum Claim" ratios.
After this increase, reinsurance premiums are currently in the range of about
0.58 per cent of the sum assured. Till March this year, the premiums were in
the region of 0.47 per cent and in January it was about 0.25 per cent.
The claims from the energy sector have been on account of natural disasters
as well as accidents. Most of the claims are currently from the private
sector, specially in the generation segment. This is because very few of the
transmission / distribution companies' assets have been insured. Wherever
insurance cover has been taken, it has been mostly in externally- funded
projects.
Current estimates of reinsured assets in the country are in the region of
about Rs 2,500 crore. This approximately translates into a premium outflow of
about Rs 900 crore. This volume by international standards is treated as low.
In March when the premiums escalated, this was one of the reasons cited.
Moreover,, the sources said, during the last few months there had been a
weakening of the sentiment for India. Hence, the hardening of reinsurance
premiums. Among the reasons cited for the weakening were fears within the
reinsurance community that some of the force majeure clauses covering the
Dabhol Power Company (DPC) might be invoked.
DPC is insured for both political as well as non-political risks.
The fear is that the political risk component could be invoked by the project
promoters, Enron International, leading to high claims from the insurance
companies, which in turn was likely to devolve on to the reinsurers. Among
the reinsurers involved in providing cover to Enron international are
engineering insurance companies such as Munich Re.
The increase in premiums could also be on account of the low capital adequacy
levels of some of the new insurance entrants in the Indian market. For these
new companies, the retention levels, the ability to absorb claims into their
own balance sheet is low. Consequently, the premiums also tend to be on the
high side. On the other hand, the public sector companies have a capital
adequacy of a minimum of about Rs 2,000 crore and have high retention
abilities.
As a result, the companies that have been most affected by the premium
escalation have been the new companies, despite their partners being renowned
foreign companies.
- C. Shivkumar

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

Business Local
U.S. firm enters local energy market
Dave Mabell

06/28/2001
Lethbridge Herald
Metro
All material Copyright (c) Bell Globemedia Publishing Inc. and its licensors.
All rights reserved.

Another American company plans to sell electric power to Lethbridge
businesses. But Enron Direct has no plans to open an office here, officials
say.
And it's not taking on entrenched Epcor and Enmax in the residential market
in the foreseeable future.
"We want to sign up business and light industrial customers across Alberta,"
says Darren Cross, chief operating officer for Alberta. "Our plan is to use
direct mail and telemarketing."
In view of the non-competitive market that's remained despite the province's
attempts at power deregulation, he says even that approach should stimulate a
little competition.
"Competition hasn't happened," Cross says. "We plan to have people out
calling on business people right across Alberta."
Enron Direct will offer "competitive prices" for natural gas as well as
electricity, he says. But the company won't comment on the possibility it
might buy the gas distribution business recently put up for sale by the Atco
Group, one of a handful of gas and electricity producers that controls the
Alberta market.
As a subsidiary of North America's biggest gas and power wholesaler, Cross
says Enron can promise customers predictable term pricing and an assured
supply.
Enrom Canada already claims to be the largest wholesale buyer and seller of
both products in Canada.
"We're not going to have the lowest price in the market," Cross adds. "But
we'll always be competitive."
In Lethbridge, prospective customers in the Industrial Association of
Southern Alberta say they've heard it all before.
"We view this announcement with a degree of skepticism," says Chris Spearman,
the business group's chairman.
"A similar announcement regarding more competitive offers was made three
weeks ago by Enmax," he points out. "Our members have yet to see competitive
bids."
In today's market, Spearman says, high-use power consumers should be offered
prices in the range of four to five cents per kilowatt hour -- as they are in
neighbouring provinces.
"We are not receiving competitive bids in that range and believe the
deregulated market structure is a failure -- and is subject to price
manipulation," he says. "Real competition does not exist."
In the U.S., legislators are investigating charges that power prices were
manipulated in California and other western states, where deregulation was
also accompanied by promises of lower prices.
Spearman says Alberta industries' demand on the power system has fallen, in
response to record-high prices.
At the same time, some new power generation has come on stream -- and that
should have brought prices lower.
"But we continue to see a reluctance (by the power companies) to provide
competitive long-term pricing," he says. "Our members are paying rates that
are double the rates they paid in last year's regulated environment."
With Enmax as the city's "default" power supplier, its rival Epcor has
apparently been the only company in a position to offer Lethbridge businesses
an alternative price structure. But the Edmonton-company has no sales office
in Lethbridge.
Epcor also failed to replace a sales agent who left after been named the
company's sole representative in the Lethbridge area, as Epcor was announcing
its partnership in the seasonal Taylor Chute small-hydro project near
Magrath.
"Grand announcements are great for public image," says Spearman. "Now we
would like to see some substance to support them in the form of competitive
retail offers."
Any comments or questions? Contact the writer at
dave.mabell@lethbridgeherald.com

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

Investigators may seek contempt sanctions against power generators
By DON THOMPSON
Associated Press Writer

06/27/2001
Associated Press Newswires
Copyright 2001. The Associated Press. All Rights Reserved.

SACRAMENTO (AP) - A Senate investigatory committee may seek contempt
sanctions Thursday against power generators that have not turned over
subpoenaed documents.
If the Senate agrees, it would be the first such move since 1929.
"These are the same documents we requested April 5, and to date the summary
is: three months, zero documents," said Laurence Drivon, special counsel to
the Senate Committee to Investigate Price Manipulation.
The Senate Rules Committee subpoenaed the documents - which include details
on bidding, pricing and other aspects of power sales - earlier this month.
Generators said they haven't complied because they have not been able to
negotiate an acceptable confidentiality agreement.
Representatives of Reliant Energy, Dynegy Energy Services Inc., Williams
Energy, Enron Corp., Duke Energy and Mirant Inc. will each be given an
opportunity at a hearing Thursday to argue why they should not be held in
contempt, Drivon said.
If the committee subsequently votes to hold any company in contempt, it would
ask the Senate to impose sanctions. There are no set penalties, Drivon said -
by law, "the Senate can take such action as it deems necessary and
appropriate," he said.
Duke spokesman Tom Williams said his company has turned over more than 200
boxes of material to the California Public Utilities Commission, and has
complied with document requests by the state attorney general and Federal
Energy Regulatory Commission.
"We're been working with this (Senate) committee for weeks now, for over a
month, without reaching agreement" on a confidentiality guarantee, Williams
said. "There's proprietary information there, highly competitive information
that no company could be expected to release without this sort of agreement."
Telephone calls seeking comment from the other five companies were not
immediately returned.
The committee's chairman, Sen. Joe Dunn, D-Santa Ana, said the companies may
go to court to resist the subpoenas.
The last time the Senate imposed contempt sanctions was 72 years ago, when it
briefly jailed a balky witness during a committee's investigation of price
fixing and price gouging allegations involving the sale of cement to the
state, Drivon said.
The state Supreme Court eventually upheld the Senate's right to jail those
who fail to comply with its subpoenas, Drivon said, but ordered that
particular witness freed after determining senators hadn't followed all the
proper procedures.

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

State energy crisis may imperil future of deregulation, consumer choice
By DON THOMPSON
Associated Press Writer

06/27/2001
Associated Press Newswires
Copyright 2001. The Associated Press. All Rights Reserved.

SACRAMENTO (AP) - California's energy crisis may claim a substantial victim:
deregulation itself.
"Never again will we embrace a free market - it's too expensive," Gov. Gray
Davis' chief energy adviser, S. David Freeman, predicted Wednesday.
"The marketplace is blind to the need for cleaner air, it is blind to the
needs of consumers in a shortage, and it produces a shortage with its
volatility," the former head of the Los Angeles and Sacramento municipal
power agencies told a Senate committee plotting California's energy future.
The state's flawed 1996 law freed wholesale electricity rates while capping
retail power prices, leaving the state's three investor-owned utilities
trapped in between.
Now the state has signed $43 billion worth of long-term energy contracts, and
created a power authority that could build its own power plants.
Its Public Utilities Commission stands ready to bar businesses from freely
swapping power providers - the incentive that prompted deregulation in the
first place.
Davis wants lawmakers to approve buying the electricity transmission lines
from two of the three cash-strapped utilities, and wants to buy the lines of
the state's largest utility, Pacific Gas and Electric, out of bankruptcy
court.
Consumer groups say the state should buy the utilities' hydroelectric
generation and other assets as well, as part of a return to regulation and a
shift to publicly owned power supplies.
"Look what deregulation and handing our electricity supply over to a bunch of
private companies has done for us - 50 percent (rate) increases and $20
billion in surcharges. Thank you very much, but no thank you," Harvey
Rosenfield of the Foundation for Taxpayer and Consumer Rights said last week.
He argued the state should buy all three utilities at their current
"fire-sale prices" - "We're talking about picking them up for a
dime-for-a-dollar when they're totally out of cash."
Enron Corp. President and CEO Jeffrey Skilling is among those urging the
state to do the opposite and create a truly open market. Public power only
drives up costs and lowers accountability, he said.
"If you had an open competitive marketplace and not put restrictions on that
marketplace, I guarantee you the price of power in California will be
significantly lower," he said in a San Francisco speech last week entitled,
"The arrogance of regulation."
"California needs to get deregulation right and the rest of the country needs
to get deregulation right," Skilling said, shortly after he was hit by a pie
thrown by an irate electricity consumer.
That means giving consumers more immediate price incentives, other free
marketers told the Senate Energy Committee Wednesday.
Tiered electricity rates would reward consumers who confine their electricity
use to lower, cheaper "tiers" of energy consumption.
Real-time electricity meters would let consumers see the price they are
paying at any given time of day or night, encouraging them to, say, run their
clothes dryer at 3 a.m. when power would be cheaper.
Business' demand for choice drove the deregulation movement, when industries
sought the ability to choose among energy wholesalers or generators rather
than being locked into buying their money through a local utility.
But PUC President Loretta Lynch predicted the commission will block that
choice Tuesday, for fear departing customers will leave residential and other
small consumers to pay a larger share of the $8.2 billion the state has
authorized for power buys.
The move was panned by generators and business groups as a step backward.
Southern California Edison Vice President Bob Foster predicted the state will
end up regulating all three legs of its power grid: generation, transmission
and distribution. Regulation is needed to smooth out the boom-and-bust
business cycle that California has seen so graphically in the last year, he
said.
Freeman predicted the state will likely wind up with some sort of "hybrid" of
government regulation that will rein in the excesses of a free market.
"It's impossible to say at the moment whether the (investor-owned) utilities
will revive," he warned. If they do, he said their corporate boards may opt
to chase the higher profits of the open market while shedding their
transmission and distribution systems to state control.
Yet Freeman and California Energy Commission Chairman Bill Keese predicted
residential and business consumers may soon see the sort of freedom of choice
they now could only dream about, once fuel cells, photovoltaic generation and
micro-turbines become commonplace.
"The future perhaps belongs to a whole new set of competitors," Freeman said.
"These central station power generators are not going to have it all to
themselves."

AP Photos SC108-109.

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

News; Domestic
Impact: Why Won't Vice President Cheney Say Who He Got Advice From on the
Energy Crisis?
Bill O'Reilly

06/27/2001
Fox News: The O'Reilly Factor
(c) Copyright Federal Document Clearing House. All Rights Reserved.

O'REILLY: In the "Impact" segment tonight, why won't Vice President Cheney
tell us who he got advice from on the energy crisis?
The General Accounting Office, the investigative arm of Congress, has asked
Cheney for a list of people he has talked with because some Democrats are
charging that big donors to the GOP are getting more access to Cheney than
other Americans. So far, Mr. Cheney has not turned over the list.
His office told us that the GAO has no legal right to know who the vice
president talked with and that making names public would discourage people
from seeking an audience with government officials.
You may remember Hillary Clinton tried to do the same thing with her
health-care debacle.
Joining us now from Arlington, Virginia, is "USA Today" energy and economics
correspondent Jonathan Weisman who is following the story.
JONATHAN WEISMAN, "USA TODAY": How are you?
O'REILLY: I -- I'm not -- I'm not getting why Cheney won't turn this over. I
mean, I know that they're saying the GAO doesn't have a right and all this
stuff. But so what? Just turn the list over, right?
WEISMAN: Yeah. Well, you know, they say that there's a principle here, that
they feel like they -- they won't be able to get free and unfettered advice
if whoever goes into the Oval Office is going to get grilled by the press
afterwards.
That doesn't make a lot of sense to me. I mean, a lot of people who go into
the Oval Office go to the press and brag about it. In fact, I talked to the
-- the chairman of Enron, the big natural gas company, told me all about a
meeting with the Cheney task force and all the advice that he had given him.
It doesn't make a lot of sense. I mean, they must just feel like it would be
embarrassing to see a big list of a bunch of energy executives who had met
with the Cheney task force.
O'REILLY: So you think that it's -- that possible -- and we -- this is
conjecture. I don't like to do conjecture, but because there's no reason --
concrete reason in my mind that this list wouldn't be put out there that it's
possible the list is stacked to the right with GOP donors and people who are,
you know, looking out for the energy area rather than the environmental area?
WEISMAN: Yeah, it's certainly possible. I mean, I -- I actually know some
environmentalists and some -- kind of the -- actually, old Clinton people who
met with the energy task force to share their views.
I know that both sides did do these meetings, but, I mean, by the way they're
being very cautious about releasing these names, you've got to think that
there must -- there must be something to...
O'REILLY: Yeah. Well, if it's 10-1, that's not going to look too good, and
that's the...
WEISMAN: Exactly.
O'REILLY: ... and that's why Democrats want it. They -- they want to
embarrass the Bush-Cheney administration, correct?
WEISMAN: Oh, the Democrats are looking for any way to make a Clinton era-type
controversy stick to the Bush people, and this one just worked perfectly
because, you know, it -- it was Hillary Rodham Clinton's task force that met
secretly that got grilled.
In fact, it was -- it was actually a civil suit against Hillary's task force
that forced them to release all -- all their names. There hasn't been a civil
suit filed, but these two Democratic members of Congress asked the GAO to do
an investigation, and the GAO took them up on it.
O'REILLY: All right. So we -- we've got to know that the motives are
political, that the Democrats want to embarrass Cheney and Bush, and they
might have an opportunity, if Cheney and Bush sought the counsel of, you
know, the energy industry people, the drilling people, and the -- and the
fossil fuel people, and then very few on the other side. So that could be
a...
WEISMAN: Right.
O'REILLY: ... a potential source of embarrassment, but I...
WEISMAN: Right.
O'REILLY: I believe that all -- this isn't a big story as far as Americans
are concerned. Just throw it out there. It's going to last for 10 seconds,
no?
WEISMAN: Well, the -- the funny thing is, when it was just, you know, Henry
Waxman and John Dingell, these representatives from Congress just kind of
badgering the White House, nobody paid much attention to it. It looked like a
little partisan spat, right?
As soon as the GAO, though, sent this letter saying, "Release this -- release
this information or else," it was elevated to a different realm.
Now it looks more like a battle between Congress, represented by its
investigative arm, the GAO, and the White House...
O'REILLY: Right.
WEISMAN: ... and it becomes a much bigger deal.
O'REILLY: Well, I think -- but the big deal for the people, and I don't care
about the GAO or Cheney's office or any of that, but the folks have a right
to know what's going on. I mean, that's the bottom line on this.
WEISMAN: Yeah, it looks -- it looks like they're hiding.
O'REILLY: Yeah. Well, they are. They are. They are hiding. Just like Hillary
Clinton hid her list, Cheney's hiding his list. That's what they're doing. It
doesn't look like it. That's what it is. I believe in open government. I want
to know...
WEISMAN: Yeah. And then...
O'REILLY: ... who's going in and what they're doing because the Clinton
administration abused that so by having Johnny Chung in there and everybody
else. I don't want that to continue.
I'll give you the last word on it.
WEISMAN: OK.
O'REILLY: The last...
WEISMAN: All right. Well, let me tell you. One -- one other thing. They --
they make a lot of legal arguments about why the GAO doesn't have access and,
you know, I'm not a lawyer, maybe they're absolutely right, but, you know,
the Clinton administration also made a lot of legal arguments, and we're
getting -- we're getting kind of tired of legal arguments.
O'REILLY: I -- I know I am, and I think everybody wants open government.
Mr. Weisman, thanks very much for your time.
WEISMAN: You're welcome.
O'REILLY: Plenty more ahead as THE FACTOR moves along this evening.
Will your investments come back? The Fed cuts interest rates again, but some
still say Alan Greenspan is not doing the job.
And then ABC News correspondent John Stossel in the middle of yet another
controversy. This time over kids and the environment. We'll talk with him.
And we hope you stay tuned for those reports.

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

Senators Ask Army Chief to Step Away From Energy Issue

06/27/2001
Dow Jones Business News
(Copyright (c) 2001, Dow Jones & Company, Inc.)

Associated Press
WASHINGTON -- Two members of the Senate Armed Services Committee are asking
the new Army secretary to remove himself from any involvement with contracts
for military base utilities because of his ties to an energy company that is
pursuing the business.
Sens. John McCain (R., Ariz.), and Jean Carnahan (D., Mo.), made the request
Wednesday in response to a June 19 story by The Associated Press about Army
Secretary Thomas White's ties to Enron Energy Services, where he served as
vice chairman until earlier this year.
The two senators wrote the Army chief that they believe he should step aside
from the utility issue for at least a year to avoid the appearance of a
conflict of interest.
"No matter how impartial you would strive to be, the fact that you were
vice-chairman of Enron, have owned a substantial amount of Enron stock, and
recently lobbied on behalf of Enron on this very issue would raise in the
public's mind a question about whether your decisions would be totally
unbiased," they wrote.
Army spokeswoman Capt. Amy Hannah said Mr. White has "received the letter and
is currently studying the letter."
Mr. White has said he would recuse himself from Enron-related decisions if
there was a clear conflict of interest. He has been consulting with lawyers
on the question while selling his more than $25 million in Enron stock.
AP reported that Mr. White has been pressing to shift control of more
military base utilities into private hands, a multimillion-dollar business
Enron is pursuing. While at the company, Mr. White played an active role in
pushing for such contracts.
Sens. McCain and Carnahan, whose committee reviewed the Army secretary's
nomination, told White that even if he sells his stock, "there would be a
clear appearance of a conflict of interest" if he takes part in any matters
related to Army utility privatization for at least a year.
At the least, the Pentagon should release its determination on whether the
value to the government of Mr. White's participation in the issue "outweighs
the very significant appearance problems that such participation would
entail," the senators wrote.
In a cost-cutting move in December 1998, the Pentagon ordered each branch of
the service to hire energy companies to run the electric, natural gas and
other utilities on military bases.
Mr. White said earlier this month that the program should be moving faster.
He noted that the Army's Fort Hamilton in New York is the only Army base to
turn over all of its utilities to a private company. Enron won the $25
million, 10-year contract in 1999.
"I see no reason whatsoever why the Army is in the energy business," Mr.
White said. "It's a stupid business practice for the Army to be running
itself that way."
Enron has a bid pending to run utilities at several Texas bases, including
seven Air Force bases, a naval base and the Army's Fort Bliss in Texas.
Copyright (c) 2001 Dow Jones & Company, Inc.
All Rights Reserved

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

UK: Companies prepare European gas trading contract.

06/27/2001
Reuters English News Service
(C) Reuters Limited 2001.

LONDON, June 27 (Reuters) - European energy companies will meet in London on
Thursday to discuss plans for a standard European natural gas trading
contract, the European Federation of Energy Traders said on Wednesday.
"The meeting in London will be with lawyers and traders to discuss a draft
contract," Jan van Aken, secretary general of the European Federation of
Energy Traders (EFET) told Reuters.
He said a contract had been prepared by a working group of five companies who
were picked for their involvment in discussions to prepare a similar European
electricity trading contract.
The firms involved are Germany's RWE , Essent from the Netherlands, UK-based
Centrica , U.S. utilities Enron and Mirant , formerly known as Southern
Energy.
Van Aken said there would be consultation with the industry on the draft,
adding he hoped the contract would be ready by the end of the year.
The European Union started to open its gas markets to competition in 2000, a
year after a similar process began in the electricity sector.
Britain, which has liberalised the whole of its gas industry, has the most
liquid gas trading market in Europe.
In the rest of the EU, most gas is sold under long-term contracts although
trading centres have started to emerge at Zeebrugge in Belgium, the entry
point to the interconnector pipeline to the UK, and at Bunde on the
German/Dutch border.

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


I wanted to give you a quick update on ConfirmLogic....

Testing was done last week on the ConfirmLogic module.  On Thursday, we
discussed with Kathryn Cordes and the ConfirmLogic IT team the items that we
had found that were "show stoppers" as far as releasing the product for Beta
Testing.  Some of the major Items found were the inability to properly handle
Basis Swaps for Gas and inability to display meaningful Index References for
Power (they were pulling in a code rather than a description of the Index).

The team worked on the "fixes" and migrated the code last night.  Today
during testing, they found that the new code had actually caused problems
with the fixed price and volume information, which was working previously.  I
talked to Kathryn and she said that the were rebuilding the code.  She said
that someone had tested the fix last night and everything worked fine.  We
plan more testing in the morning.

They are doing a high-level demo this Thursday for Beta Customers just to
introduce the module.  They were planning on having more extensive Beta demos
for each client starting next week but realize that those may have to
postponed further.

We have told them that we would not sign off for Beta testing until we were
comfortable that the items that we identified were working.  We need
consistent, stable days of testing before I will feel comfortable.

Overall, we like the "new" streamlined version of the screens and feel that
it will be a good product if they can work out the data display issues.

Call with any questions.

Kim Theriot


Start Date: 2/28/01; HourAhead hour: 22;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001022822.txt

---- Generation Schedule ----
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: Wheelabrat
  MKT_TYPE: 2
  TRANS_DATE: 2/28/01
  UNIT_ID: MARTEL_2_AMFOR


Please find attached the SoCal disclosure schedules for the Purchase and
Sale Agreement for certain of the SoCal assets.  If you have any questions
or any problems opening any of the attachments, please do not hesitate to
contact either Gray Sasser at (713)758-3425 or Donnie Roark at
(713)758-3374.

 <<GTB-Sched.DOC>>  <<TBG-Sched.DOC>>  <<TGS-Sched.DOC>>
<<Transredes-Sched.DOC>>  <<CEG-Sched.DOC>>  <<CEG/Rio-Sched.DOC>>
<<Gaspart-Sched.DOC>>  <<GasBol-Sched.DOC>>  <<GasMat-Sched.DOC>>
<<EPE-Sched.DOC>>  <<CuiabaII.DOC>>  <<Elektro-Sched.DOC>>
<<Puerto-Suarez-Sched.DOC>>  <<Riogen-Sched.DOC>>
Donnie Roark
droark@velaw.com
phone: (713) 758-3374
fax: (713) 615-5945

 - Summer-GTB Draft.DOC
 - Summer-TBG Draft.DOC
 - California Schedule - TGS.DOC
 - Summer-Transredes Draft.DOC
 - CEG Schedule.DOC
 - RIO Schedule.DOC
 - Summer - Gaspart Schedule - version 2.DOC
 - v.4  California Schedule - GasBol  7-31-00.DOC
 - v.4  California Schedule - GasMat  7-31-00.DOC
 - v.5  California Schedule - EPE  7-31-00.DOC
 - 285757_1.doc
 - 280928_2.DOC
 - 283241_2.DOC
 - 285727_2.DOC


Here it is.


what is this

ARSystem@mailman.enron.com on 12/06/2000 07:00:30 PM
To: jeffrey.a.shankman@enron.com
cc:
Subject: Approval is Overdue: Access Request for jeffrey.a.shankman@enron.com

This request has been pending approval for  28 days and you are the
alternate.  Please click
http://itcapps.corp.enron.com/srrs/auth/emailLink.asp?ID=000000000006063&Page=
Approval to review and act upon this request.

Request ID          : 000000000006063
Approver            : jennifer.burns@enron.com
Request Create Date : 10/30/00 4:01:37 PM
Requested For       : jeffrey.a.shankman@enron.com
Resource Name       : Unlisted Application/Software
Resource Type       : Applications


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

From:  <RBowers@nyiso.com>
To: TIE_List_Server@nyiso.com
Date: Sunday, October 28, 2001 3:08:57 GMT
Subject:

RBowers@nyiso.com writes to the NYISO_TECH_EXCHANGE Discussion List:

The bill for 10/28/2001 may be put on hold due to problems encountered with
Performance Tracking System data.  The problem is associated with the time
change from DST to EST.  An update on the status of NYISO's efforts to
address this problem will be posted mid-afternoon tomorrow.

Regards,
Randy Bowers
Manager - Customer Settlements

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

From:  <PLemme@nyiso.com>
CC: recipient list not shown: ;@ENRON
Date: Sunday, October 28, 2001 3:02:34 GMT
Subject:

Dear Market Participant,

Technical Bulletin 82 -  Allocation of uplift costs associated with
Virtual Trading - is being distributed for Market Participant
comment.  The Technical Bulletin will be posted to the NYISO
web site following the comment period.

The purpose of our Technical Bulletins is to facilitate participation
in the NYISO by communicating various NYISO concepts,
techniques, and processes to Market Participants before they
can be formally documented in a NYISO manual.

Please forward comments on this Technical Bulletin, via email,
by 5PM on Friday, November 2, 2001 to:

Peter Lemme
NYISO Customer Technical Services
plemme@nyiso.com

(See attached file: TB_82_draft.pdf)
 - TB_82_draft.pdf

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

From:  <PLemme@nyiso.com>
To: market_relations@nyiso.com
Date: Sunday, October 28, 2001 2:45:01 GMT
Subject:

Dear Market Participant,

Technical Bulletin 81 - Submitting Virtual Bids in the Day-Ahead
Market    - is being distributed for Market Participant
comment.  The Technical Bulletin will be posted to the NYISO
web site following the comment period.

The purpose of our Technical Bulletins is to facilitate participation
in the NYISO by communicating various NYISO concepts,
techniques, and processes to Market Participants before they
can be formally documented in a NYISO manual.

Please forward comments on this Technical Bulletin, via email,
by 5PM on Friday, November 2, 2001 to:

Peter Lemme
NYISO Customer Technical Services
plemme@nyiso.com

(See attached file: TB_81_draft.pdf)
 - TB_81_draft.pdf