Edmund:

As you requested, attached please find the first draft of the revised Legal
and Privacy statement.  David Gilberg with Sullivan & Cromwell has made at
first pass at revisions.  I intend to review and revise as necessary and will
pass on any revisions to you.  I look forward to any comments you may have.
By separate e-mail, I am also forwarding to you a copy of a memo that David
has prepared outlining various issues impacting Phase II content.

Leslie
----- Forwarded by Leslie Hansen/HOU/ECT on 07/03/2000 10:17 AM -----

	GILBERGD@sullcrom.com
	07/03/2000 08:17 AM

		 To: leslie.hansen@enron.com
		 cc: RAISLERK@sullcrom.com
		 Subject: Legal and Privacy Statement

Attached are clean and blacklined versions of the Legal and Privacy
Statement, reflecting my suggested additions and changes.  Please note that
the bracketed language in para. 6 has been left in brackets because I am not
sure if this disclosure will appear elsewhere in the document; if it does, it
might not be needed here.

Please call or e-mail if you have any questions.  Have a good holiday.

----------------------------------

This e-mail is sent by a law firm and contains information
that may be privileged and confidential. If you are not the
intended recipient, please delete the e-mail and notify us
immediately.

 - enron.doc
 - enronr.rtf


-----Original Message-----
From: 	Migden, Janine
Sent:	Sunday, October 14, 2001 4:27 PM
To:	Shapiro, Richard; Steffes, James D.
Subject:	FW:

fyi...I will keep you posted.

 -----Original Message-----
From: 	Merola, Jeff
Sent:	Friday, October 12, 2001 3:21 PM
To:	Herndon, Rogers
Cc:	Migden, Janine
Subject:	RE:

Rogers,

Based on present rules, the biggest challenges include our ability to maintain firm transmission service with the requirement to designate resources and the fact that imbalance prices are set by CG&E.  After we meet with MISO next week and CG&E the following Tuesday, we should have a much better handle on how life will look under MISO and be in a better position to determine if a special negotiation with Cinergy would be beneficial.

I will advise further after this,
Jeff

From:	Rogers Herndon/ENRON@enronXgate on 10/12/2001 02:26 PM
To:	Janine Migden/ENRON@enronXgate, Jeff Merola/HOU/EES@EES
cc:
Subject:	RE:

Jeff - what are the big obstacles we face in Cinergy - generation designation, imbalances?  We are going into their market so maybe we should try to get something out of them if their economic interests by chance are alligned at this moment.

Let's discuss.
RH

 -----Original Message-----
From: 	Migden, Janine
Sent:	Friday, October 12, 2001 2:21 PM
To:	Herndon, Rogers; Merola, Jeff
Subject:

Rogers and Jeff;

In a discussion today with one of Cinergy's attorneys, I received confirmation that they are interested in ending the market development period early, if they think it is in their economic interests to do so.  This would require them to have 20% of their customers in any of their given customer classes switched to a competitive supplier.  At this point on the commercial side they are at 6%.  The attorney indicated Cinergy's belief (when last he checked) that electric prices would decrease during the first two years of the transition period (01 - 02) and then rise the last three years.  The higher the prices rise, the more willing Cinergy is to unload its customer base and continue to collect regulatory assets.  Of concern to Cinergy also is the ability to find a home for all their generation once their customers start to leave.

Cinergy appears interested in talking should Enron or any marketer want to do so.  I know we have broached this question in the past and thought I would put it before you in the event you think there might be an opportunity to negotiate an arrangement whereby we can leverage a deal that improves our physical delivery capability.  If the time is not right at this moment, this is something to keep in mind for a later date.

Janine


Ed, thanks for the comment.  Dale is in the process of either closing or
getting near to closing the ABB E Next Breakout contract with ENA-Houston.  I
am forwarding your note for consideration.  Exhibits P & Q are "Not Used"
pages. I see no problem in pulling them out unless it means renumbering which
mean legal time.  If just a place holder, I'd rather get the breakout
agreements done than make any changes at all.

Cheery bye

Bill W.

 -----Original Message-----
From:  Dannhaus, Ed
Sent: Wednesday, May 23, 2001 10:46 AM
To: Williams, Bill; Blackburn, Jody; Chmielewski, Robert
Subject: ABB Contract

Exhibits P and Q don't make any sense in the ABB contract------ we should
issue a change order and get them out of there.


This just in. Skilling resigns for personal reasons. More to follow...


Jeanie,

Lavorato called me into his office to question me about my inquiries into
part time.  Nice confidentiality.  Since I have already gotten the grief, it
would be nice to get some useful information.  What did you find out about
part time, leave of absences, and sabbaticals?  My interest is for 2002.

Phillip


I prefer the descriptor commercial support.  The performance of our staff is judged in terms of their contributions to the company's top commercial goals -- thus commercial support.

 -----Original Message-----
From: 	Fossum, Drew
Sent:	Monday, June 04, 2001 12:02 PM
To:	Smith, Gary; Hayslett, Rod; Lowry, Phil; McCarty, Danny; Corman, Shelley; Hotte, Steve; Hartsoe, Joe; Prentice, James; Cordes, Bill
Cc:	Horton, Stanley; Vaughn, Ann; Schaffer, Brian; Sumlin, Roger
Subject:	RE: Proposal to Change "Commercial Support" peer group label to "Professional Services"

Sure beats "Constrained, Technical" whatever that meant.  df

 -----Original Message-----
From: 	Smith, Gary
Sent:	Monday, June 04, 2001 11:29 AM
To:	Hayslett, Rod; Lowry, Phil; McCarty, Danny; Corman, Shelley; Fossum, Drew; Hotte, Steve; Hartsoe, Joe; Prentice, James; Cordes, Bill
Cc:	Horton, Stanley; Vaughn, Ann; Schaffer, Brian; Sumlin, Roger
Subject:	FW: Proposal to Change "Commercial Support" peer group label to "Professional Services"

There apparently was a proposal made at the last VP PRC Committee meeting to retitle the Commercial Support peer group to "Professional Services" (see note below).  Let me know if you are opposed to this, otherwise I will indicate ETS' support for this change later this week.
Gary

 -----Original Message-----
From: 	Oxley, David
Sent:	Friday, June 01, 2001 12:42 PM
To:	Beck, Sally; Colwell, Wes
Cc:	Kean, Steven; Olson, Cindy; Lynch, Drew; Pieper, Kalen; Jones, Robert W.- HR Exec; Barnard, Marla; Joyce, Mary; Smith, Gary; Corteselli, Gina
Subject:	Proposal to Change "Commercial Support" peer group label to "Professional Services"

At the VP PRC meeting last Wednesday, Dave Delainey proposed we consider retitling the Commercial Support peer group as above. Apparently this suggestion was made and broadly supported at a policy committee meeting a few weeks ago. The suggestion is that the Support label is seen rather negatively across the organisation and the new label may be an improvement.

The VP PRC Committee resolved that they would be open to supporting a change, subject to the senior leads from across CS providing their views/support.

I volunteered to circulate this note to the 2 of you in EWS and ask my colleagues from HR to share with their CS leads to solicit their views before returning to the committee late next week with summarised reaction. Perhaps you would provide me with your views and a vote for or against?

I would strongly recommend that we do broadly discuss this outside a small circle of people.

David


Ryan Thomas will be in our office tomorrow morning to interview for a Real Time trading position on our E. Power 24 hour desk.  Please confirm your availability to interview Ryan:

9:00 - 9:30 Don Baughman
9:30 - 10:00 Juan Hernandez
10:00 - 10:30 Kayne Coulter
10:30 - 11:00 John Forney

Thanks,
Johnny


Let me think about it.
---------------------- Forwarded by Kay Mann/Corp/Enron on 08/01/2000 09:56
AM ---------------------------

Heather Kroll@ECT
08/01/2000 09:53 AM
To: Kay Mann/Corp/Enron@Enron, Jeffrey T Hodge/HOU/ECT@ECT
cc:

Subject: Flight Change

I moved Ozzie and my flight to Raleigh up to the 1:22 pm Continental flight.
Please have your assistants change your reservations also if you would like
to get in earlier.

Heather


I'm fine with it.
mike


Subject: HPL Weekly Transition Meeting

The weekly HPL Transition meeting  will now take place in EB24C2 regularly on
Tuesdays at 4pm.  The following is a list of primary and secondary
representatives for these meetings from the various areas.  Please have at
least one representative attend.  Other areas (i.e. Accounts Payable,
Treasury, SAP, etc.) will be asked to attend when needed and will be included
in other ad hoc transition meetings.

Executive:     Brian Redmond
Structuring:     Patrick Wade
Accounting:     Jim Coffey
Project:      Troy Denetsosie
Legal:      Barbara Gray, Anne Koehler, Sandi Braband
Asset Management/Joint Ventures:  Steve Schneider, Ken Kaase
Enron Transportation & Storage:   Barney Brasher
Engineering:     Molly Carriere, Nick Cocavessis
Trading:     Tom Martin, Dave Baumbach
Marketing:     Greg Brazaitis
Contracts:     Melissa Graves, George Weissman
Human Resources:    Fran Mayes, Kathy Neal
Energy Operation:    Bob Hall
IT:      Tommy Yanowski
Global Finance:     Katie Stowers
Transport:     Ed Gottlob
Operations:     Ron Green
Producer Services:    Jill Zivley, Brian Riley
Gas Control:     James McKay
Regulatory:     Tom Shelton
Tax:      Rhett Jackson


We will not be selling energy OOM until further notice.    We have no solid
information concerning refunds,  so even if we sold for a loss to the ISO,
in an attempt to help,   we could be subject to refunds.
That's exposure with no upside.

Dont do it.    We could send supplemental bids,   but we would only receive
$250, which is below the bilateral market.
Any bids submitted in excess of $250 must be supported and reported to the
ISO, FERC, and the Cal Energy Oversight Board.
While we feel that we can support our prices,   we do not want to open up the
possibility of refunds.

We would like to help,  but it cannot happen in this environment.

JMF


Please print and add to my Fuel Cell book.  Thanks.  Kay

ps please print a second copy for John however you spell Clawburg.
---------------------- Forwarded by Kay Mann/Corp/Enron on 10/19/2000 03:18
PM ---------------------------

Claudette Harvey@ECT
10/19/2000 01:59 PM
To: Kay Mann/Corp/Enron@Enron, Stephen Plauche/Corp/Enron@Enron
cc: Scott Healy/HOU/ECT@ECT

Subject: CRRA Tax Structure Overview

Per your request.  Call me if you need anything else.

-claude


can you send me a copy of the K?

 -----Original Message-----
From: 	Ring, Richard
Sent:	Tuesday, January 29, 2002 3:47 PM
To:	Smith, Mike D.
Subject:	RE: Riverside County Waste Mgt

Mike,

The agreement covers multiple projects; to date there is only one project that has come on line.  For the one project that has come on line during the non-performance penalty could be in the range of $150,000 to $640,000, depending on the resoultion of the "effective online date" for said project.  The non-performance penalty was our strongest negotiating point in the ongoing effort to restructure the agreement as there is a potential for penalties for each project for each year of the contract.  The agreement contained some fundamenal flaws in order to be able to book the mark-to-market for the agreement.

I do not have a good handle of the "early termination payment" except to say that there are approxmiately 390,500 MWh's.  The average contract "fixed price" is $33.10 MWh.  I would need to find out what the nine year fixed price from the power curves is to estimate but my best stab would be to estimate the nine year fixed price to be $25.00 MWh which would result in "early termination payment" of approximately $3,200,000 ((390,500*33.10) - (390,500*25.00)).

Richard

 -----Original Message-----
From: 	Smith, Mike D.
Sent:	Tuesday, January 29, 2002 3:25 PM
To:	Ring, Richard
Subject:	RE: Riverside County Waste Mgt

Thanks.  Can you get a bead on the relative value of the ETP and the non-performance penalties?

 -----Original Message-----
From: 	Ring, Richard
Sent:	Tuesday, January 29, 2002 12:53 PM
To:	Smith, Mike D.
Subject:	RE: Riverside County Waste Mgt

Mike,

The "deal" is between EESI and Riverside County Waste Management Department (RCWMC) is dated April 17, 2000 and the term commenced on Sepetmber 1, 2000 and ending on September 1, 2010.  Based on our bankruptcy filing RCWMD stopped delivery of power on December 6, 2001; RCWMD invoiced EESI for power production for September 2001, 0ctober 2001 and November 2001.  I do not know if they were ever paid by EESI.  I do not know of any invoice for the first six days of December 2001.

EESI (myself) and EPMI (Chris Foster) were in the process of renegotiating the above referenced agreement with the plan for EPMI to take over the purchase of power and scheduling services with EESI being the purchaser of the "green tickets"  from EPMI associated with the power production.  There were some major issues to overcome in the renegotiation regarding the "fixed price", "volume committments" and "penalties".  I do not know who, if anyone, is currently looking at this agreement to make any kind of determination EESI's and/or EPMI's desires for the future of this agreement.

RCWMD sent various letters dated December 10, 2001, December 13, 2001, and January 8, 2002 requesting response from EESI.  The December 10, 2001 letter indicates that RCWMD considers the agreement terminated effective December 2, 2001.  I had previously spoke to you about this agreement in December 2001.

It is my opinion that we should not continue this agreement and we should consider RCWMD's offer to terminate the agreement with the exchange of the non-performance panalties for the termination payment.

Let me know if you need anything else.

Regards,

Richard

 -----Original Message-----
From: 	Smith, Mike D.
Sent:	Tuesday, January 29, 2002 12:36 PM
To:	Ring, Richard
Subject:	Riverside County Waste Mgt

Richard--what do you know about this deal?  Do you have paper on it?  Is this a purchase deal that we want?  Are we buying under it now?

The customer is pushing me to give them some answers.  Thanks.  MDS


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You are invited to attend a "brief" ETS PRC review meeting on Monday,
December 11.

One purpose of this meeting is to review the performance distribution in each
ETS Division (i.e., percentage of employees at each performance level) to
ensure comparability across the organization.  Human Resources will provide
performance distribution charts to each of you for your organizations based
on the results of your PRC meetings.

The second purpose is to review the performance ratings of the Managers and
Directors/Sr. Directors in your organization, particularly focusing on those
individuals being recommended for promotion.  Ratings will be reviewed for
all, but a detailed discussion of each individual's performance is not
intended.

The hoped for outcome of this meeting is to reach consensus prior to, and
minimize surprises during, the final ETS PRC meeting scheduled for December
15.  This will allow us to focus the majority of that meeting on the
performance of ETS' Officers.

Meeting details:
When:  December 11
Where:  EB49C2
Time:  11:00 AM-3:00 PM (lunch will be served)


Great summary.  I think the two main issues you raise are the right ones, but
I have one other thought we should discuss internally.  Do we want to create
a set of incentives for the management of PJM that would entitle management
to incentive compensation to the extent they meet certain goals -- eg
relieving congestion on the grid, increasing throughput across the
transmission system, expediting interconnection (measured in terms of actual
interconnections not just applications approved), etc.  This way we could
create an organization that would have the incentive to make a workable and
open transmission system.

From: Sarah Novosel on 07/13/2001 07:57 AM

To: Kevin M Presto/Enron@EnronXGate, Mark Dana Davis/HOU/ECT@ECT, Jeff
Ader/HOU/EES@EES, Edward D Baughman/Enron@EnronXGate, Joe
Gordon/Enron@EnronXGate, Janelle Scheuer/Enron@EnronXGate, mbrown9@enron.com,
Mark Bernstein/HOU/EES@EES, John Llodra/Enron@EnronXGate, W David
Duran/Enron@EnronXGate, George Wood/Enron@EnronXGate, Dave
Perrino/SF/ECT@ECT, Paul J Broderick/Enron@EnronXGate, Jason
Thompkins/Enron@EnronXGate, Mason Hamlin/Enron@EnronXGate, Robert
Stalford/Enron@EnronXGate, Tom May/Enron@EnronXGate, Gautam
Gupta/Enron@EnronXGate, Narsimha Misra/Enron@EnronXGate, Steve
Montovano/NA/Enron@Enron, Garrett Tripp/Enron@EnronXGate, Berney C
Aucoin/Enron@EnronXGate, Jason Thompkins/Enron@EnronXGate, Rob
Wheeler/Enron@EnronXGate, Rogers Herndon/Enron@EnronXGate, Jim
Meyn/Enron@EnronXGate, Aleck Dadson/Enron@EnronXGate, Daniel
Allegretti/Enron@EnronXGate, Pearce W Hammond/HOU/EES@EES, Donna
Fulton/Corp/Enron@ENRON, Howard Fromer/NA/Enron@Enron, Kathleen
Sullivan/NA/Enron@ENRON, Tom Hoatson/Enron@EnronXGate, Thane
Twiggs/Enron@EnronXGate, Sarah Novosel/Corp/Enron@ENRON, Christi L
Nicolay/HOU/ECT@ECT, James D Steffes/NA/Enron@Enron, Linda
Robertson/NA/Enron@ENRON, Richard Shapiro/NA/Enron@Enron, Steven J
Kean/NA/Enron@Enron, Charles Decker/HOU/EES@EES, Nick
Politis/Enron@EnronXGate, sscott3@enron.com, Aleck Dadson/Enron@EnronXGate,
Lloyd Will/Enron@EnronXGate, Ray Alvarez/NA/Enron@ENRON, Susan M
Landwehr/NA/Enron@Enron, Charles Yeung/HOU/ECT@ECT, Andy
Rodriquez/Enron@EnronXGate, John J Lavorato/Enron@EnronXGate, Louise
Kitchen/Enron@EnronXGate, Greg Whalley/Enron@EnronXGate,
susan.j.mara@enron.com, Jeff Dasovich/NA/Enron@Enron, Karen
Denne/Enron@EnronXGate, mpalmer@enron.com, Alan Comnes/Enron@EnronXGate, Tom
Briggs/NA/Enron@Enron, John Shelk/NA/Enron@Enron, Pat
Shortridge/Corp/Enron@Enron, Chris Long/Corp/Enron@ENRON, Mike
Roan/ENRON@enronXgate, Kerry Stroup/NA/Enron@Enron, Janine
Migden/Enron@EnronXGate, Dave Mangskau/Corp/Enron@ENRON

cc:

Subject: PJM RTO Order

Attached is a summary of the PJM RTO order.  While it is somewhat lengthy,
the order has a lot of good information in it that I wanted to share with the
group, particularly the Commission's statements regarding the existing
configuration of the northeast and the need to expand it.

We are working on summaries of the New York and New England RTO orders and
will have those out shortly.  If you would like copies of the orders, just
let us know.

We expect the mediation proceeding to begin within the next week.  We will
keep you updated.

Sarah


No problem.  I didn't go out last night - just had a quiet evening.  I am
having a great day - work wise.  Are you going to the shell open?

Danielle Samson <DanielleS@JonesGranger.com> on 04/28/2000 03:16:08 AM
To: "'Eric.Bass@enron.com'" <Eric.Bass@enron.com>
cc:
Subject: RE: Corruption Test

Hey, sorry I didn't get a chance to call you back.  we went to lunch and
didn't get back until after 2, and then I had class at 2:30.  How is your
day?  Did you go out last night?

  -----Original Message-----
  From: Eric.Bass@enron.com [mailto:Eric.Bass@enron.com]
  Sent: Thursday, April 27, 2000 10:59 AM
  To: DanielleS@JonesGranger.com
  Subject: RE: Corruption Test

  liar

  Danielle Samson <DanielleS@JonesGranger.com> on 04/27/2000
03:39:30 AM

  To:   "'Eric.Bass@enron.com'" <Eric.Bass@enron.com>
  cc:
  Subject:  RE: Corruption Test

  34

            -----Original Message-----
            From:     Eric.Bass@enron.com
[mailto:Eric.Bass@enron.com]
            Sent:     Wednesday, April 26, 2000 5:04 PM
            To:  DanielleS@JonesGranger.com
            Subject:  RE: Corruption Test

            55 - how about you?


My proposed changes.
----- Forwarded by Steven J Kean/NA/Enron on 01/21/2001 05:01 PM -----

	Elizabeth Ivers
	01/21/2001 03:23 PM

		 To: Mark Palmer/Corp/Enron@ENRON, Steven J Kean/NA/Enron@Enron
		 cc: Mark Koenig/Corp/Enron@ENRON
		 Subject: California

A starting point for the California section of the Conference Call script.
Please comment.  Thanks.


Joe,
I spoke with Centana's attorney. According to him, they are not opposed
to the escrow account, just the hassle of paper work, but he is checking
with his commercial person and will get back to me today. I told him ENA
wants to do the deal, ENA is willing to open the escrow account, but
that's the deal. So I expect to hear from him shortly.

Attached is the email from Centana's attorney. At the very beginning of
Mike Richards' email he lists all of his claims.

-----Original Message-----
From: Nemec, Gerald [mailto:Gerald.Nemec@ENRON.com]
Sent: Tuesday, February 19, 2002 12:32 PM
To: Proctor, Shemin V.; Mann, Kay
Cc: mark.ellenberg@cwt.com
Subject: FW: FW: Gas Storage Agreement with Duke Energy Field Services

Kay,  Mark is aware of this transaction.  The following is his response
to Centana's counsel email.  I did discuss with Mark this morning, the
current course we are following with Centana and he agreed it made
sense.

As it stands now we would sell all the gas in-place to Centana and they
would net out post-petition fees.  Our business people feel that we have
used the storage services post-petition and consequently those fees
would be an administrative expense.  An amount equivalent to the
pre-petition fees would be held in escrow until the bankrutpcy court
resolved the pre-petition amounts.   All remaining amounts would be
delivered to Enron North America.

>  -----Original Message-----
> From: 	"Mark Ellenberg" <Mark.Ellenberg@cwt.com>@ENRON
> Sent:	Friday, February 15, 2002 8:22 AM
> To:	Nemec, Gerald
> Cc:	melanie.gray@weil.com; david.wolnerman@weil.com; Mann, Kay
> Subject:	Re: FW: Gas Storage Agreement with Duke Energy Field
Services
>
>
> He is wrong on just about every point.  In the few instances where he
has
> stated correct legal principles, he has misapplied them.
>
>    the bankruptcy code expressly cuts off interest on unsecured claims
as
>    of the petition date.
>    refusing to act under the contract unless prepetition debt is paid
is a
>    violation of the automatic stay.  in this regard, it should be
noted
>    that obligations maturing postpetition are still prepetition debts
to
>    the extent they arise from a prepetition contract, such as here.
>    both set off and recoupment require that there be a debt owed to
the
>    debtor by the counterparty and a debt owed by the debtor to the
>    counterparty.  here, the unstated premise of centana's position is
that
>    centana's obligation to return gas is a debt owed by it to to
enron.
>    this is wrong.  centana is merely a bailee of the gas and its
return
>    obligation is not a debt.  this is clearly established in the
cotton
>    warehouse cases i have previously sent you the cites for.
>    section 365(d)(3), on its face, only applies to leases of
nonresidential
>    real property.  a gas storage agreement is obviously not such a
lease.
>    the court has already ruled that enron deserves time to determine
>    whether to assume or reject executory contracts.  in addition, the
court
>    has ruled that parties to executory contracts are not entitled to
relief
>    from the stay or adequate protection.
>    centana should be placed on notice that they are violating the stay
by
>    demanding prepetition debt and by refusing to turn over property of
the
>    estate.  this exposes them to a contempt citation and damages.  we
>    should thank them for providing a smoking gun in the form of
richard's
>    e-mail.  in addition, they are in breach of contract for refusing
to
>    comply with enron's withdrawal requests.  this exposes them to
breach of
>    contract damages claims based on the decline in the value of gas.
>    they are entitled to be paid as an administrative expense for
storage
>    charges based on storage actually used since december 2.
>
> you should be aware that we resolved a similar standoff with ngpl by
> agreeing to immediately reject storage contracts and paying
post-petition
> administrative storage charges if they cooperated in the sale of gas
to a
> third party via in-ground transfer.  maybe that would work here.
>
>
>
>                     "Nemec,
>                     Gerald"               To:
mark.ellenberg@cwt.com
>                     <Gerald.Nemec@        cc:
>                     ENRON.com>            Subject:     FW: Gas Storage
>                     Office:               Agreement with Duke Energy
Field
>                                           Services
>                     02/14/02 05:26
>                     PM
>
>
>
>
>
>
> Mark,  Attached is the authority under which Centana is holding
portions of>
> our gas in storage.  I will forward a copy of the storage agreement
also.
>
> >  -----Original Message-----
> > From:         "Michael S. Richards"
<msrichards@duke-energy.com>@ENRON
> > Sent:         Wednesday, February 13, 2002 11:33 AM
> > To:           Nemec, Gerald
> > Cc:           Greg A. Swidensky
> > Subject:           Gas Storage Agreement with Duke Energy Field
Services
> > Importance:        High
> >
> > Gerald, this e-mail will serve as a follow-up to our telephone
> conversation
> > from the other day.  There are a number of arguments we believe we
have
> > with respect to our entitlement to pre-bankruptcy lease payments
under
> our
> > storage lease with Enron.    These arguments include our rights
under our
> > storage lease agreement, common law setoff rights, recoupment,
> > rejection/assumption and adequate protection  issues.  These issues
are
> > briefly addressed below:
> >
> >    Under the terms of our September 1, 2001 Gas Storage Agreement,
Enron
> is
> >    obligated to pay monthly interest in the amount of 1.5% for past
due
> >    lease obligations.  Currently, Enron is past due for both pre-
and
> >    post-bankruptcy lease obligations to us.  Under the terms of the
> lease,
> >    we are authorized to suspend withdrawals until all past due
> obligations,
> >    including interest, are paid.
> >    We believe that under Texas law we are entitled to common law
> recoupment
> >    and/or setoff rights.
> >    We don't know whether Enron intends to accept or reject our
storage
> >    lease.  If Enron rejects our 3 year lease, we calculate the
rejection
> >    damages for anticipatory breach to exceed $3.6 million, which is
in
> >    excess of the value of the gas.  Recoupment rights are generally
> >    available to determine a just liability on the claim of one party
> >    against another with respect to a single, indivisible contract.
> >    If recoupment is not available, setoff enables us to  offset our
> claims
> >    under the lease against Enron's claims for the gas, subject to
the
> >    automatic stay,  because mutual debts may be offset against each
other
> >    to achieve a just result.  Official Comm. of Unsecured Creditors
v.
> >    Manufacturers and Traders Trust Co. (In re Bennett Funding
Group), 146
> >    F.3rd 136 (2nd Cir. 1998).
> >    Section 365(d)(3) of the Code requires that a
debtor-in-possession
> >    timely perform all of its obligations under an unexpired lease
until
> it
> >    is assumed or rejected.  Therefore, not only rent, but also other
> fees,
> >    taxes, and attorneys' fees, to the extent provided for under the
> lease,
> >    must be paid under Section 365(d)(3).  Courts have held late
charges
> for
> >    postpetition, pre-rejection lease payments to be obligations that
must
> >    be paid as administrative expense claims.  See, e.g., In re MS
Freight
> >    Distribution, Inc., 172 B.R. 976 (Bankr. W.D. Wash. 1994).
> >    We believe that we are entitled to the setting of an early
deadline by
> >    the court for Enron to determine whether or not to accept or
reject
> this
> >    contract in order to protect our recoupment/setoff rights and we
> believe
> >    we are entitled to relief from the automatic stay to permit the
> exercise
> >    of the setoff rights (if recoupment should be found not to
apply).
> >    Pending such determinations, we believe that we are entitled to
hold
> the
> >    gas to preserve our recoupment/setoff rights.  See, e.g.,
Citizens
> Bank
> >    v. Strumpf, 516 U.S. 16 (1995).
> >
> > Our preference is to work out a deal with Enron for the purchase of
this
> > gas, with a credit against the purchase price for both pre- and
post-
> > bankruptcy lease obligations.  We believe we should seek bankruptcy
court
> > approval to the extent this involves pre-bankruptcy obligations.
> >
>
>
>
**********************************************************************>
> This e-mail is the property of Enron Corp. and/or its relevant
affiliate
> and may contain confidential and privileged material for the sole use
of
> the intended recipient (s). Any review, use, distribution or
disclosure by
> others is strictly prohibited. If you are not the intended recipient
(or
> authorized to receive for the recipient), please contact the sender or
> reply to Enron Corp. at enron.messaging.administration@enron.com and
delete
> all copies of the message. This e-mail (and any attachments hereto)
are not
> intended to be an offer (or an acceptance) and do not create or
evidence a
> binding and enforceable contract between Enron Corp. (or any of its
> affiliates) and the intended recipient or any other party, and may not
be
> relied on by anyone as the basis of a contract by estoppel or
otherwise.
> Thank you.
> **********************************************************************
>
>
>
>
>
>
>
>
========================================================================
======
> NOTE:  The information in this email is confidential and may be
legally privileged.  If you are not the intended recipient, you must not
read, use or disseminate the information.  Although this email and any
attachments are believed to be free of any virus or other defect
> that might affect any computer system into which it is received and
opened, it is the responsibility of the recipient to ensure that it is
virus free and no responsibility is accepted by Cadwalader, Wickersham
> & Taft for any loss or damage arising in any way from its use.
>
>
>
========================================================================
======
>
>
>
========================================================================
======
> NOTE:  The information in this email is confidential and may be
legally privileged.  If you are not the intended recipient, you must not
read, use or disseminate the information.  Although this email and any
attachments are believed to be free of any virus or other defect
> that might affect any computer system into which it is received and
opened, it is the responsibility of the recipient to ensure that it is
virus free and no responsibility is accepted by Cadwalader, Wickersham
> & Taft for any loss or damage arising in any way from its use.
>
>
>
========================================================================
======
>


Kay, can you set up a dinner with Randall.

Thanks
---------------------- Forwarded by David W Delainey/HOU/ECT on 09/25/2000
08:08 PM ---------------------------

Randall Curry@ENRON
09/25/2000 06:40 PM
To: David W Delainey/HOU/ECT@ECT
cc:
Subject: Re: Calpine

Dave,

Thanks for following through with the contact.  As we discussed, the
discussions we had with Calpine were at a local level and very preliminary,
with Bridgeline indicating to Calpine that we are always open to looking at
ways that will enhance shareholder value.  I agree with you that at this time
it has a low probability of evolving into anything.

On a separate note, I would like to take you up on your offer of your time
and resources.  I know that Bridgeline is a very small component of the
things that are on your radar screen, but if it is not too much of an
imposition, I would like to have a one on one discussion with you concerning
a few of the issues we discussed at the management committee mtg.

I want to make sure that I am crystal clear on the perspectives and desires
of both parents.  Coming from Texaco, I feel like I have a good feel for
Texaco's short and long term expectations for the partnership, however I
would like to dig a little deeper with you on a few of the issues we
discussed at the management committee mtg, and a couple of your points in
your follow up email to me.

The afternoon or evening would work best for me, and I would be happy to pick
up the tab for dinner one night if that fits with your schedule.  The balance
of this week is kind of tight, however, the week of September 2nd and 9th are
fairly open with the exception of Tuesday night the 3rd.

Thanks for your help, look forward to talking to you soon.

Randy

David W Delainey@ECT
09/22/2000 06:48 PM
To: Randall Curry/Corp/Enron@ENRON
cc: Brian Redmond/HOU/ECT@ECT, Jean Mrha/NA/Enron@Enron

Subject: Calpine

Randy, Scott Healy contacted Bob Kelly at Calpine about Calpine's potential
interest in Bridgeline and he found that Kelly and Cartwright had no real
knowledge of the potential deal.  Likely this originates at the local level
and is probably a long put.  Kelly was going to get back to Scott with more
detail over the next week.

Regards
Delainey


After a week and a half of silence from Houston Street, I found out today
that they have taken over responsibility for their exchange linking
development from Sapient.  According to the Houston Street project manager,
Sapient was being too cautious and thorough in their efforts to get to market
and Houston Street wasn't impressed with their progress to date.  Sapient had
as of last week finished the design work for the system and has provided the
design to Houston Street.  Houston Street will use their own internal team to
complete the project and feels confident they will finish by the 15 January
deadline.

This does not bode well for the exchange that appeared to be light years
ahead of TrueQuote in their development efforts.

-David


----- Forwarded by John J Lavorato/Corp/Enron on 01/21/2001 08:38 PM -----

	Christopher F Calger@ECT 01/21/2001 04:00 PM 	   To: Barry Tycholiz/NA/Enron@ENRON  cc: John J Lavorato/Corp/Enron@Enron  Subject: California QFs - Gas Hedging

Barry,

FYI the California QF's are negotiating a settlement deal with Edison and the state of California which would fix energy payments over five years.  Currently the energy payments are indexed to Socal Border because a majority of the Edison QF's buy spot gas.  If this settlement happens, the QF's will likely want to buy financial swaps.  The Edison gas-fired QF's represent about 500MMCF/Day of gas.

Chris


I had a HUGE lunch (Vincent's), so something  light sounds good.  We could do
the usual appetizers at Grotto.

"Neil Mann" <nmann@erac.com> on 01/10/2001 06:03:44 PM
Please respond to <nmann@erac.com>
To: <Kay.Mann@enron.com>
cc:

Subject: RE:

Yes. Paige will watch the menagerie. Where would you like to meet? NM

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Wednesday, January 10, 2001 5:31 PM
To: nmann@erac.com
Subject: RE:

So do we have someone to watch the menagerie?

I can probably get out around 600.  I could probably leave sooner, but I
wouldn't get anywhere any quicker!

ckm

"Neil Mann" <nmann@erac.com> on 01/10/2001 05:37:48 PM

Please respond to <nmann@erac.com>

To:   <Kay.Mann@enron.com>
cc:

Subject:  RE:

So can I buy you dinner and a drink? NM

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Wednesday, January 10, 2001 5:13 PM
To: nmann@erac.com
Subject: RE:

I haven't talked to Ozzie today.  When I spoke with him last night, we were
arranging to meet in NYC next Wednesday, and I told him we could celebrate
there.

ckm

"Neil Mann" <nmann@erac.com> on 01/10/2001 05:20:09 PM

Please respond to <nmann@erac.com>

To:   <Kay.Mann@enron.com>
cc:

Subject:  RE:

Our computers and phones have been going up and down all day long.
Are you guys still going out tonight? Please let me know if your plans
change and maybe your husband could take you out. NM

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Wednesday, January 10, 2001 4:28 PM
To: nmann@erac.com
Subject: RE:

One.

"Neil Mann" <nmann@erac.com> on 01/10/2001 04:20:25 PM

Please respond to <nmann@erac.com>

To:   <Kay.Mann@enron.com>
cc:

Subject:  RE:

Have you received any e-mail from me?  NM

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Wednesday, January 10, 2001 3:45 PM
To: nmann@erac.com
Subject:

The closing dinner for the big financing will be on Feb. 8.

Just thought I'd keep you current!

Love,

Kay


Start Date: 12/16/01; HourAhead hour: 7;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2001121607.txt
###Cannot locate a Preferred or Revised_Preferred Schedule that matches the FINAL Individual Interchange Schedule.  Unable to assign deal number.


Bob,

Please increase Kim Hillis' (my assistant) email file.  Kim often receives mail files on my behalf and needs the additional space to receive this mail.


put on calendar
---------------------- Forwarded by Jeffrey A Shankman/HOU/ECT on 10/04/2000
05:57 PM ---------------------------
From: Alan Aronowitz on 10/04/2000 04:42 PM
Sent by: Nony Flores
To: Mike McConnell/HOU/ECT@ECT, Jeffrey A Shankman/HOU/ECT@ECT, Brent A
Price/HOU/ECT@ECT, John L Nowlan/HOU/ECT@ECT, Mark E Haedicke/HOU/ECT@ECT,
Richard B Sanders/HOU/ECT@ECT, Michael A Robison/HOU/ECT@ECT, Harry M
Collins/HOU/ECT@ECT, Michael Hicks/EPSC/HOU/ECT@ECT, Eileen
Kisluk/Corp/Enron@ENRON, David Marshall/HOU/ECT@ECT, James P
Studdert/HOU/ECT@ECT, Mark Koenig/Corp/Enron@ENRON, Michael J
Gasper/HOU/ECT@ECT, John H Harrison/HOU/ECT@ECT, Michael Philips/HOU/ECT@ECT,
Michelle Bruce/HOU/ECT@ECT, Eric Thode/Corp/Enron@ENRON, Jennifer
Walker/NA/Enron@Enron, Daniel R Rogers/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Laurie Mayer/HOU/ECT@ECT, Marcus Nettelton/NA/Enron@ENRON, John
Viverito/Corp/Enron@Enron, Nony Flores/HOU/ECT@ECT
cc: Janette Elbertson/HOU/ECT@ECT, Becky Tlucek/HOU/ECT@ECT, Chantelle
Villanueva/HOU/ECT@ECT, Joya Davis/HOU/ECT@ECT, Twanda Sweet/HOU/ECT@ECT,
Jenny Helton/HOU/ECT@ect, Linda J Simmons/HOU/ECT@ECT, Helen Marie
Taylor/HOU/ECT@ECT, Sue Foust/HOU/ECT@ECT, Jackie Travis/HOU/ECT@ECT, Renee
Anderson/NA/Enron@Enron, Nelly Carpenter/NA/Enron@ENRON
Subject: Re: Annual Oil Spill Crisis Management Training

Please reserve Thursday, October 19, 2000 from 8:30 a.m. to 3:30 p.m. to
participate in our third  annual oil spill training program.  Some of you
were part of the task force that helped to design the Oil Spill Crisis
Management Plan, and it is well recognized that periodic training is an
essential part of implementing the Plan.  The training program (8:30 a.m. -
noon) and a brief tabletop exercise (1:00 p.m.- 3:00 p.m.) are being designed
by ENA Legal and Enron Global Markets Commercial Support (Scott Earnest and
Kevin Sweeney), and our oil spill consultant, Robert J. Meyers and
Associates, Inc. Typically, these types of programs run for 3 or 4 days, but
we have condensed the curriculum so that we can get sufficiently trained in
3/4's of a day.  We believe that this intensive training effort will give us
all a chance to learn more about the Plan and the role that each of us are
assigned.  The company,s success in dealing with a future spill crisis will
depend on how well we are prepared to perform in such circumstances.

The training is scheduled to occur in Houston in the Enron Building in Room
49C1.  If any other person in your group should be included in this program,
please let Nony Flores know at ext. 37541 and we will add them to the list.
A full copy of the Plan will be distributed during training.

Thanks again for your participation in this very important effort.

Regards,

Alan Aronowitz
Harry Collins
Kevin Sweeney
Scott Earnest


I need to go get a beer with Jim for a little while.  Is that ok?


----- Forwarded by Mark Taylor/HOU/ECT on 05/10/2001 11:16 AM -----

	Mark Greenberg@ENRON
	04/24/2001 09:00 AM

		 To: Mark Taylor/HOU/ECT@ECT
		 cc:
		 Subject: BankLogic Deal Team Mtg. - "Project Bluesox"

Mark -

FYI regarding the BankLogic matter.  I plan on attending to at least see
where this is headed.  After looking at the term sheet attached to the
earlier memo, I would be happy to be responsible for this project, but this
may be a deal Travis is better suited for.

If you think it is best for you to attend this afternoon, please let me know.

Mark
Senior Counsel, ENA
Phone:     713-345-8897
Facsimile: 713-646-3940
E-Mail:      Mark.Greenberg@enron.com
----- Forwarded by Mark Greenberg/NA/Enron on 04/24/2001 08:57 AM -----

Calendar Entry:
Meeting

Subject:
BankLogic Deal Team Mtg. - "Project Bluesox"
Location:

Begins:
Tue 04/24/2001
02:00 PM
Entry type:

Ends:
Tue 04/24/2001
03:00 PM

Chair:
Douglas Fuehne/ENRON@enronXgate

Invitations already sent

To:
Amy Spoede/ENRON@enronXgate, Marc Eichmann/ENRON@enronXgate, Doug
McDowell/ENRON@enronXgate, Debbie R Brackett/HOU/ECT@ECT, Mark
Greenberg/NA/Enron@ENRON, Chuan Ong/ENRON@enronXgate
cc:

Reservations already made

Rooms:
EB 2746

Time will appear free to others.

Others cannot see any details about this event.

Have Notes notify you before the event.

Categorize:

Description:
When: Tuesday, April 24, 2001 2:00 PM-3:00 PM (GMT-06:00) Central Time (US &
Canada).
Where: EB 2746

*~*~*~*~*~*~*~*~*~*

Doug Fuehne has asked you to attend a meeting to review the terms around a
deal CommodityLogic and BankLogic are doing with a bank partner in the
northeast US.


As you are aware a "safety net" type of provision has been included in the master netting agreement to attempt to convert any underlying master agreement one way payment provision to a two way payment provision.  However, this is only a safety net and should not be relied upon.  It may not cover every particular definitional/form structure in an underlying master agreement.  Please be sure to review the underlying master.  It is probably always best to draft a contract specific amendment to convert to 2way payment since this is a critical issue to effect properly the closeout netting and setoff provisions of the master netting agreement.  The specific amendment can be included in the master netting or accomplished as a separate amendment to the underlying master agreement.

Any questions, call me.

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


The word is gettng out.  SOme good Ackerman quotes.

			Energy Experts Belie Davis' Rosy Prediction
Summer expected to be crunch time

Greg Lucas, Sacramento Bureau Chief
			?
			Wednesday,?February 28, 2001

			Sacramento -- Gov. Gray Davis' optimistic assessment that California may be
on the "back side" of its energy crisis flies in the face of what many energy
companies and other experts predict.
			California's real test will come this summer when electricity usage sharply
increases, and unless everything breaks the way Davis hopes, predictions are
that large chunks of the state will be in the dark.
			"We're not on the back side of this crisis. This problem is far, far bigger
than the governor is suggesting," said Gary Ackerman, executive director for
the Western Power Trading Forum in Menlo Park.
			"To characterize the problem that way shows a recklessness that feeds on the
popular notion we don't have an energy crisis. We do. We have a very serious
one that's going to hit us as temperatures and loads go up," Ackerman said.
			The Democratic governor's comments were made Monday in Washington, D.C.,
during an East Coast visit aimed at getting Washington and Wall Street
support for his energy plan.
			He admitted more hard work is needed, but said the state is on the "back side
of the crisis" because lawmakers have passed bills needed to help lower
electricity prices.
			"Does that mean we're home free?" Davis asked yesterday. "No."
			But he again repeated that the state is on the back side of the crisis.
			That is contrary to predictions by the Independent System Operator, which
oversees the state's power market.
			On any given day in June, the ISO estimates, the state will fall 6,815
megawatts short of demand. That would put nearly 7 million homes in the dark,
if it happens.
			In July, the expected shortage is 4,685 megawatts. In August, it's 5,297
megawatts. That's if California has a normal summer. If it's hotter than
normal, the shortage grows.
			The ISO's estimates tend to be conservative and do not include Davis'
conservation goal.
			But even if a 10 percent reduction were achieved in June that would save
roughly 5,000 megawatts, the state would still be short 1,800 megawatts.
			And there are other variables.
			Depending on the snowpack and reservoir levels, hydroelectric plants may not
be able to run at full bore, which would also worsen the situation.
			"That is something the governor cannot spin his way out of," said Sen. Tom
McClintock, R-Northridge.
			Davis said a combination of new power plants and energy conservation will
help the state get through this summer.
			The clock is running. The ISO predicts shortages of 3,030 megawatts in May -
- just two months away.
			"The real electricity crisis is going to be this summer, and I don't think
we've made enough progress there," said Severin Borenstein, director of the
University of California Energy Institute.
			California won't be able to build its way out of the energy crisis by quickly
approving and building new power plants, Borenstein said.
			The ISO's demand estimates already factor in the new power plants set to come
online this summer.
			"Unless we have a very mild summer and have lots of rainfall between then and
now," Borenstein said, "we are going to face some serious shortages."
			Like Davis, Borenstein says California needs to do more to conserve energy.
Unlike Davis, he favors raising prices on big power consumers to give them an
incentive to cut back.
			But the Democratic governor may be sending Californians a mixed message.
			By telling them the worst is over, he could undercut his plan by making
people believe more conservation is unnecessary.
			Excluding what lies ahead, there are also plenty of energy issues left
unresolved right now.
			Although Davis has reached a tentative deal with Southern California Edison
on purchasing its share of the state's transmission system for $2.7 billion
-- no such deal exists with either Pacific Gas & Electric or San Diego Gas &
Electric.
			Some alternative energy producers, like co-generation plants, are shutting
down because the cash-poor utilities haven't paid them for several months. No
cash means no fuel to run the turbines that make the juice.
			Generators like Duke Energy and Reliant Energy aren't convinced the crisis
has passed.
			For starters, both companies are owed in excess of $700 million for
electricity bought by PG&E and Edison but never paid for.
			"There are a lot of issues still out there such as how much power your state
will require this summer, whether there is enough generation on the ground or
available commercially to handle the load if there is a significant spike in
demand," said Richard Wheatley, a Reliant spokesman.
			Harvey Rosenfield, head of the Foundation for Taxpayer and Consumer Rights,
has a slightly different take on whether the worst is over.
			"We've said all along it's a crisis inspired by the greed of the utilities
and the energy companies," Rosenfield said.
			"Now that taxpayers are paying $1 billion every three weeks to buy
electricity and the ratepayers are going to pay between $13 billion and $20
billion, the companies are happy and the crisis is over. What more could they
want?"
			E-mail Greg Lucas at glucas@sfchronicle.com.

?
			? Printer-friendly version
? Email this article to a friend

Feedback
?
		,2001 San Francisco Chronicle ? Page?A3

		?

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


<<Chevron-Compression- June Draft2_.doc>> Please take a look at this and
let me know what you think.

Ed Wick
281-561-3990

> -----Original Message-----
> From: Eric Gillaspie [SMTP:Eric.Gillaspie@enron.com]
> Sent: Monday, June 12, 2000 5:55 PM
> To: fwic@chevron.com; George Weissman; Cheryl Lantz Marshall
> Cc: Gerald Nemec
> Subject: Chevron-HPL Compression Agreement
>
>
>
> Mr Wick,
>
> Attached for your review and comment is the HPL-Chevron Compression
> Agreement we
> recently discussed.  Your requested changes have been implemented into the
> document.  If you have any questions or comments, please feel free to
> reach me
> at the number below or Gerald Nemec at 713.853.3512.  It was a pleasure
> working
> with you.
>
> (See attached file: Chevron-Compression- June Draft.doc)
>
> Thanks,
>
> Eric Gillaspie
> 713-345-7667
> Enron Building 3886 << File: Mac Word 3.0 >>

 - Chevron-Compression- June Draft2_.doc


Start Date: 1/2/02; HourAhead hour: 7;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002010207.txt


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a summary of your mileage activity through March 4, 2001. To access your new
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ruggles

To: Timothy Blanchard/HOU/EES@EES, Bryan Hull/HOU/ECT@ECT, Luis
Mena/NA/Enron@Enron, Lisa Gillette/HOU/ECT@ECT, Susan M Scott/HOU/ECT@ECT,
Shanna Husser/HOU/EES@EES, Eric Bass/HOU/ECT@ECT, mmmarcantel@equiva.com
cc:
Subject:

does everyone want to meet at tortucas on kirby south of 59 or el tiempo(no
tequilla shots) or cabos downtown tonight.  let's meet around 6-6:30.


So hello,

What happened at rehearsal last night?  I did not make it, partly because I
was tired and I had several errands to take care of.  I needed to stop by
K-Mart and the grocery store last night to get things I really needed, and
just did not want to be out late.

Let me know!!!

Talk to you later.

P.S. is everthing else going okay?


I agree with the numbers as well.

 -----Original Message-----
From:  Walker, Rebecca
Sent: Wednesday, May 02, 2001 4:34 PM
To: Booth, Chris
Cc: Clark, Catherine; Edmonds, Marcus; Vos, Theresa; Dennis, Tonya; Jacoby,
Ben; Mann, Kay
Subject: Re: Letter to GE - Payment of Invoices

Chris

According to my calculations, all of these numbers are correct.

Regards,
Rebecca

	  From:  Chris Booth                           05/02/2001 03:54 PM

To: Rebecca Walker/NA/Enron@Enron, Catherine Clark/Enron@EnronXGate
cc: Ben Jacoby/HOU/ECT@ECT, Kay Mann/Corp/Enron@Enron

Subject: Letter to GE - Payment of Invoices

Ladies,

Please review the attached letter that I plan on sending to General Electric
regarding the payment of recent invoices.  I would like to obtain your
concurrence on the amounts that I have set forth in the letter.

Thanks,

Chris

 << File: GE Letter - May 2, 2001 - Payment of Invoices.doc >>


Per your request,  below is a list of the periodicals that are circulated
through the SWAP group.

Derivatives Week (weekly)
Swaps Monitor (bi-monthly)
Barrels Bars & BTUS (monthly)
Derivatives Report (monthly)
Derivatives Strategy (monthly)
Futures & Derivatives Law Report (monthly)

Let me know if you need anything else.

Taffy

I'm working on the red binder question.  Tana may visit with you to get
details.


Ask Karen for the distribution list she would like to send these to for
today's 1:30 meeting.  Also please reserve 47c1 for the meeting so I can use
the computer screen.
----- Forwarded by Steven J Kean/NA/Enron on 03/05/2001 07:23 AM -----

	Terry West
	02/09/2001 01:36 PM

		 To: Rebecca Carter/Corp/Enron@ENRON, Steven J Kean/NA/Enron@Enron
		 cc:
		 Subject: Board presentations

Attached are the presentations for the Corporate Staff Group and the 2001
Goals.  There have been slight modifications to the format.


Gerald.Nemec@enron.com

Yeah,  LSU almost lost though.  Should be interesting.  I think the SEC in
general is a little overrated after the Kentucky and LSU games

Bruce Rudy@ENRON COMMUNICATIONS
03/16/2000 05:15 PM
To: Gerald Nemec/HOU/ECT@ECT
cc:
Subject: email address

G$-

Hey bro, looks like we got LSU next.

Hey, what is your email address?  The one you give to somebody outside of
Enron.

Bruce


Hi.  Got your message.  As you know, it's complete meltdown here, so I
apologize for not having got back to you sooner.  I'll read and get back to
you.  Deadline?


NETWORK WORLD FUSION FOCUS: JEB BOLDING
on APPLICATION SERVICE PROVIDERS
12/13/00 - Today's focus: The security double standard

Dear Wincenty
Kaminski,

In this issue:

* Security resources to consider
* Experts Exchange
* Links related to ASPs
* IT Job Spot(tm): Can UNIX save lives?  Oakland, CA

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Today's focus: The security double standard
---------------------------------------------
By Jeb Bolding

Security is a top concern for everyone in the application
service provider space. With so many options on the market, it
can be difficult for customers and ASPs to pick the right kinds
of security for storage and transmission of sensitive corporate
information.

Perhaps the ideal security product for ASPs is one that gives
customers the most comfort, is reasonably cost-effective, and
can be managed by a staff that may not be expert in security.

The toughest part for ASPs is that their customers hold them to
a security double standard. These customers often expect better
security for their remotely hosted systems and data than they
provide for their local systems.

I find this ironic, considering most security infractions occur
from inside an organization, not outside. Conventional wisdom
places the percentage of breaches at 80% internal, and 20%
external (though I haven't independently verified these
statistics).

Based on that information, I would think customers considering
an ASP model for applications and data would be stumbling over
one another to locate their systems at an ASP, thus reducing
their exposure to system compromises.

Instead, prospective customers typically hit the ASP with
security questions that may not be outside the expertise of the
ASP in question and may be only marginally understood by the
customers themselves. ASP business development staff have to
become versed in the technology workings of VPNs for data
transfer and public-key infrastructure for authentication and
encryption, for example, just so they can get in the door with
a potential customer.

Unfortunately, comprehensive security procedures and
technologies are typically very expensive to implement and
require a level of security expertise that most ASPs cannot
hope to implement and maintain. And I'm not so sure these
technology answers are really solving the problem of security
for ASPs and their customers. Again, 80% of security breaches
come from the inside. In a lot of cases, that means that the
true threat is from people who are already inside the security
demilitarized zones. It seems to me that security technology is
really only part of the answer to the overall security
question.

In my opinion, ASPs and large enterprises should look beyond
the latest security technology and hire security experts from
the Department of Defense, NSA or the CIA who can help
implement security policies and procedures that will be
effective in eliminating the 80% internal breaches.

There are several documented systems, publicly available from
the government, that outline the policies and procedures
necessary to meet certain levels of security. For example,
there is a series of trusted systems books available from
INFOSEC, each named after a color: the Teal Book, the Orange
Book, and the Bright Blue Book, all of which are great
resources for a variety of security topics.

No doubt, there are some commercial enterprises that also
adhere to recognized security standards and can provide the
procedures and technology necessary to ensure the integrity of
critical business information inside and outside corporate
networks. Partnerships between ASPs and these emerging
companies would make a lot of sense.

I don't mean to exclude technology solutions from this
discussion. I believe that there are significant strides being
made to make security technology more usable and affordable.
But I fear that ASPs are setting up service-level agreements
with their customers that guarantee certain levels of security
and intrusion detection, but are really only covering the most
visible problem.

To contact Jeb Bolding:
--------------------------------------------
Jeb Bolding is senior consultant with Enterprise Management
Associates in Boulder, Colo., an analyst and market research
firm focusing exclusively on enterprise management. Bolding has
10 years of experience in the network systems industry, most
recently with eCollege.com, an ASP for higher education, where
he was director of product development. He can be reached at
mailto:jbolding@enterprisemanagement.com.

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http://nwfusion.experts-exchange.com/. Another network
professional may have the solution to your problem.

What defense will an ASP have if one of its customer's
databases is compromised as a result of internal mischief?
http://www.radium.ncsc.mil/tpep/library/hard-dist.html

National Security Agency Rainbow Series on CD-ROM:
Excite@Home with ASPs
Network World, 12/04/00
http://www.nwfusion.com/news/2000/1204asp.html

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>
> > A major network is airing the show "Survivor 2" this winter. In
> response,
> > Texas is planning "Survivor, Texas Style".
> >
> > The contestants will start in Dallas, travel through Waco, Austin, San
> > Antonio, down to Houston and Brownsville. They will proceed up to Del
> Rio,
> > on
> > to El Paso, then to Midland/Odessa, up to Lubbock and Amarillo. From
> > there,
> > they proceed to Abilene, and on to Ft.Worth and back to Dallas.
> >
> > Each will be driving a pink Volvo, with a bumper sticker that reads "I'm
>
> > gay,
> > I voted for Al Gore, and I'm here to confiscate your guns".
> >
> > The first one to make it back to Dallas wins.
>


---------------------- Forwarded by Jeff King/Corp/Enron on 05/16/2001 09:32
AM ---------------------------

Craig Carmichael <cgcarmic@uswest.net> on 05/15/2001 04:38:41 PM
To: robert.benson@enron.com, jeff.king@enron.com, kyle.schultz@enron.com,
doug.gilbert-smith@enron.com, matt.lorenz@enron.com,
paul.j.broderick@enron.com, tom.may@enron.com, mike.carson@enron.com
cc:

Subject: Load Forecasting Technology

To whom it may concern:

My name is Craig Carmichael.  I am a PhD student at Iowa State
University, working under Dr. Bartlett in the Adaptive Computing Lab.
Please lend me your attention for a brief moment.  Enron's team of power
traders is the first contact I have made in this nature.

I strongly believe that I have developed technology that can make Enron
millions in the very near-term future.  If you are a power trader whose
success is proportional to the accuracy of your load forecasts, then I
believe I can deliver an enormous opportunity to Enron and you.  If I am
way off base on my assessment, please let me know and I will go
somewhere else.  I CHALLENGE EACH OF YOU TO DISCREDIT MY BELIEFS.

Here are some of my credentials, so that you can verify that it might be
promising to read the remainder of this email.

   1.  Finishing up ISU PhD work this summer.
   2.  Invented multiple neural network methods and inductive learning
techniques.
   2.  Recently DEVELOPED THE MOST ACCURATE electric load models in the
Chicago area for ComEd.
   3.  Saved ComEd millions of $ over the last couple years because of
this.
   4.  Can verify the above claims and that I did this single-handedly.
   5.  Wrote the new inductive learning algorithm for New Energy
Associates in Atlanta.
   6.  My software will be the new learning engine of NEA's NOSTRADAMUS
future v5.0
   7.  Can verify that I single-handedly wrote NOSTRADAMUS's new training
engine (not yet released)
   8.  Am the world's best electric load forecaster using advanced
inductive learning methods.

This is the situation:

   I am giving my Final Defense on July 16th in areas of advanced
forecasting methods.  In 1999, I developed highly advanced neural
network models for Commonwealth Edison, under Robert Abboud (working at
ComEd) through the Adaptive Computing Lab at Iowa State University.  The
models were the most accurate available.  At the time, ComEd was using
the EPRI models, NEA's Nostradamus, Tesla, and the ISU models (those
that I developed).  Still, I knew of many ways for improvement and have
been waiting for my graduation to release this technology.  Preliminary
studies show that my most recent work is more accurate than anything
that is available at any price.

   Since I have felt oppressed by the system (being a student), I have
awaited graduation (am finished mid-July) to unleash the technology that
I have developed outside of the university (my funding comes from the
Meteorology department and has nothing to do with load forecasting).
This is unpublished, provocative, state-of-the-art stuff that can smoke
even the multi-million dollar EPRI models, and only I know how they
work.  The technology could also put Tesla out of business.  The errors
appear to be LESS THAN HALF OF THOSE OF NOSTRADAMUS.

John Snead from Tesla knows me and feared my models so much that he
tried to merge his company with RGA Labs.  Robert Abboud from ComEd,
Excelon (and now RGA Labs) knows who I am.  Rick Hunt, the project
manager from New Energy Associates does also, since I wrote the software
for their yet-to-be-released inductive learning engine.

Ok.  Here are the possibilities.

   1.  I am making all of this up and did't really invent leading
forecasting technology
   2.  I am a nut who doesn't even know what he's talking about
   3.  This guy couldn't possibly do this sort of thing on his own clock
all by himself
   4.  Maybe there's something to what this guy is saying.  We might as
well send him a data set to test his claims.

I feel that someone will continue to try to take advantage of me if I
don't act now.  Within the next 6 months, someone will probably own my
technology besides myself.  I want to prove that I can be an immense
asset to Enron.  I would like to sell my technology to Enron as part of
your in-house modeling efforts.

Someone else might come along and try to make the same claims that I am
making.  They might razzle-dazzle you with their marketing sense and
ability to sell you their gem.

What I am saying is that if you give me a chance to show you what I can
do, if you care about accuracy and not razzle-dazzle, then I will not
disappoint you.  Give a data set to me and a thousand other people and
companies.  Let me show you that I'm not making all of this up.  I will
show you flaws in other "gems".

I hope this email wasn't too long.  My family & I, as of now, have a
fairly uncertain financial future (until I enter the workforce and have
a fairly cushy job).  Because of this, I am obligated to see what
opportunities exist with my intellectual property.  If I fail in
convincing Enron that I have a gold mine in my possession, then I will
go to the #2 spot on my list, and will offer to provide them with the
leading forecasting package available today.  In some way, shape or
form, in this scenario my software will then compete with Enron.

Thank you for lending me your ear.  I hope you don't think I'm a lunatic
for sending you this lengthy email.

Craig Carmichael
cgcarmic@uswest.net


What did the doc say?  Are you ok?


The report named: East P/L Totals <http://trv.corp.enron.com/linkFromExcel.asp?report_cd=1&report_name=East+P/L+Totals&category_cd=1&category_name=EAST&toc_hide=1&sTV1=1&TV1Exp=Y&current_efct_date=11/28/2001>, published as of 11/28/2001 is now available for viewing on the website.


Hi Christine:

Yes, forwarded the email you sent last week.  Here's where folks came out.
First, we think that the folks in your first group are mean.  Second, it's a
real challenge managing a group of four and there's concern that five will
break the camel's back.  Suggestion came up that it might be much more
mangageable if you could try to link up with a smaller group first.  If
there's a problem finding a smaller group, then we could try to do five and
hope the ship don't sink?

Sound reasonable?

Best,
Jeff

	Christine Piesco <christine.piesco@oracle.com>
	10/02/2000 01:14 PM

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

Jeff,

Have you had a chance to convey what I said to the group, and can I join?
Professor Aceves was aware that I talked to you about joining your group, and
he sent me an email asking to confirm that I was now in a group. I'd certainly
like to be! As you know, I want to make sure I am in one to do the next
assignment with. Please let me know, so that if I am joining your group I can
make the meetings and contribute to the next case. I do really appreciate your
help. :)

Thanks,
Christine

Jeff.Dasovich@enron.com wrote:

> Christine:
>
> My apologies.  My schedule melted down after we talked on Monday.  Here's
> where folks came out.  There's some concern about size.  We're supposed to
> be no larger than 3, but we lobbied Aceves and he apparently Ok'd our
> "oversized" group.  The other folks in the group--who talked to him
> originally--are pretty sure that five will violate the rules.  Folks
> wondered if there were other groups that are smaller than ours that you
> could hook up with.  Sorry about that---it's a wrinkle that I didn't think
> about when we spoke.  If it gets real ugly trying to find a smaller group,
> let me know.  Fortunately there's not another team case due for two weeks.
>
> Best,
> Jeff

--
Christine Piesco
Industrials Account Manager
Oracle Corporation
500 Oracle Parkway
Redwood Shores, CA 94065
Phone: (650) 506-3640
Fax: (650) 633-3753
christine.piesco@oracle.com

 - christine.piesco.vcf


Louise,

I'm ok with that arrangement, without the dotted line reporting relationship between the members of the ENA Tech Services Group and the Wholesale Group.  Otherwise, my role is somewhat superfluous and cloudy at best.  We can still achieve the same result by Brian and I working together.

Brian

Louise Kitchen
03/15/2001 09:55 AM
To:	Brian Redmond/HOU/ECT@ECT
cc:
Subject:	Re: Tech Services

But isn't the point that its only a dotted line just like Joe Deffner has a dotted line to Andy Fastow.
I can't see them as getting worried over a dotted line.  I notice the one alternative you have not mentioned is leaving it as it is today with it all reporting to you and you managing any relationship with Brian - what do you think?

Louise

Brian Redmond
03/14/2001 09:16 PM
To:	Louise Kitchen/HOU/ECT@ECT
cc:

Subject:	Tech Services

Louise,

I had a brief chat with Mark regarding his plans for Enron Wholesale Tech Services.  As I understand him, he sees the ENA Tech Services group reporting into Brian Stanley on a dotted line basis in order to keep these groups coordinated.

You may want to first discuss/sell this reporting relationship with the origination units who will fear another EE&CC.  Further, we will have to sell this organizational structure to the members of the ENA Tech Services Group.  I'm concerned that we may loose some of our top engineers who will resist being organizationally tied to EAS.

Two possible alternative arrangements:

1.	The ENA Tech Services group remains as ENA's development engineering organization.  It should be regionalized and report (on a solid line) to the origination groups.  This will keep the ENA Tech Services group lean and mean and somewhat independent from the Wholesale Tech Services Group:

	a)	Bob Virgo/Mike Coleman would report into Presto/Durhan,
	b)	Wayne Mayes and his team would report into Calger.
	c)	Mike Coleman would report into Max and would help support ESA,
	d)	Nick Cocavessis would support the gas and liquids businesses
	e)	Ron Blackham would support Enron South America

Brian Stanley's group would be seen as a technical resource base to draw from, and as a "friendly" check on the technical assumptions that are used in the pro formas.  Brian Stanley's group would provide a review of Enron America's DASH's so as to keep the ENA Tech Services group from becoming too aggressive in its assumptions (whereas Brian's group will tend to be over-conservative in its role as risk manager).

2.	Another alternative is to create a broader role for the commercial investment/asset management group that you, Dick and I spoke about.  This unit would combine the skill sets of the Restructuring Group and the Tech Services Group.  It would have the technical responsibility for ENA transactions throughout their life cycle and would have commercial responsibility for investments and assets that no longer have strategic or ongoing financial value to the origination groups.  Specifically:

	a)	investments and assets that were not projected to earn their cost of capital
	b)	investments and assets that had little or no strategic value
	c)	troubled assets/positions/investment that required significant time/attention beyond what the origination groups were willing to spend

As with suggestion (1.) above, this group would use Brian Stanley's organization as a resource base to draw from on an as needed basis, however, there would not be a formal reporting relationship.

Lets discuss,
Brian

<Embedded StdOleLink>


Dear Rick and Jeff:
 I'm the Project Director for the CAEM RED Index and Ken Malloy suggested I
send this request to you.  We have contacted the CPUC for their response to
our survey update, but their press of business results in no response from
them to us.  The dramatic changes in California from December 2000 to June
2001 makes it imperative that we have some intelligence on updating the
individual attributes.  Based on the attached PDF file description of the
attributes and the Word document table of characterizations which shows year
end 2000 and a blank for May 2001, could you help me by filling in those
blanks based on your knowledge of state legislation, CPUC orders or anything
else official that has changed the way they implement their electric
restructuring plan?  I don't expect an answer to the seven survey questions,
but feel free to provide your response just for my education.

 I've sent this request to Commissioner Bilas, who works with Ken, but he
couldn't offer any assistance, so I'm relying on the industry to fill in the
blanks.  If you have any other suggestions of who might be able to respond
to this information, it would be greatly appreciated.
Thanks for your help.

Nancy Etkin
RED Index Project Director
Center for the Advancement of Energy Markets
E-mail netkin@caem.org
Voice  (703) 532-6887
Fax  (208) 361-0785

 - Attributes for 2001 RED Index1.PDF
 - California survey response.doc


Company: 000236     Arng: 66917-00009     Eff Date: 2001-10-27

                        ----- Receipt -----   ----- Delivery -----
                           Quantity  Cut CD      Quantity  Cut CD

Nominated                       407                   407
Working                         407                   407
Capacity Allocation               0  CCR                0
Confirmed                         0                     0


----- Forwarded by Cynthia Sandherr/Corp/Enron on 01/25/2001 05:40 PM -----

	"Stier, Jeffrey K - KN-DC" <jkstier@bpa.gov>
	01/25/2001 05:04 PM

		 To: "'Barbour, Gary'" <garybarbour@msn.com>, "'Case, Ted'"
<ted.case@nreca.org>, "'Debra Sliz'" <dsliz@morganmeguire.com>, "'Eckl,
Chris'" <CEckl@appanet.org>, "'Hayes, Bob'" <rhayes@bjllp.com>, "'Kanner,
Marty'" <mkanner@kannerandassoc.com>, "'Kennedy, Keith'" <kkennedy@bdbc.com>,
"'Neuenschwander, Todd'" <tod@mgninc.com>, "'Petit, Susan'" <sep@vnf.com>,
"'Rich, Curt'" <jcr@vnf.com>, "'Ringwood, Irene'" <iringwood@bjllp.com>,
"'Sandherr, Cynthia'" <Cynthia_Sandherr@enron.com>, "'Sliz, Deborah'"
<dsliz@morganmeguire.com>
		 cc:
		 Subject: it is not April 1 yet

 - rates letter.pdf


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Discuss credit markets and new financing idea.  Some peoples schedules show
conflicts.  Will this time work?


We have received your e-mail and Kirk will check the numbers, answer the questions, and respond to you by tomorrow.

>>> "Hayslett, Rod" <Rod.Hayslett@ENRON.com> 11/4/01 10:57:06 AM >>>
This needs to have the highest priority.    Please let me know if there
is any issue.

>  -----Original Message-----
> From:     Peng, Gary
> Sent:    Sunday, November 04, 2001 12:53 PM
> To:    Stevens, Kirk
> Cc:    Hayslett, Rod
> Subject:    High Importance
> Importance:    High
>
>     HIGH IMPORTANCE
>
> Find attached a list of companies, with their revenues for the
> year-ended December 31, 2000 and asset balances at December 31,
> included in your business unit.  We have been asked by the legal
> department to provide a list detailing:
>
>     1.  Revenues broken out by the country in which they were
> derived for each company.  The schedule provides extra columns if a
> particular company derives revenues in multiple countries.
>
>     2.  Assets broken out by country for each company.
>
> Complete the list and return it to me no later than 10 a.m. on
> Tuesday, November 6th.
>
> Please respond to me that you have received this e-mail and will
> complete on time.
>
> Gary
>
> 3-6841
>
>
>
>  <<PGE.xls>>

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


Tana,

Further to the voicemail you left me yesterday, the two deals we discussed
when you were here were Lakeside (power) and IPSCO (gas).  Confirmations have
been sent to the counterparty on both of these transactions.

Dianne


The message that you sent was undeliverable to the following:
 wlpernas (user not found)

Possibly truncated original message follows:

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12:32:26 -0600
Subject: I'm Leaving Enron
To: David_Aamodt@pgn.com, dapnucc@teleport.com, dick@pnucc.org,
seabron.adamson@frontier-economics.com, Frank_Afranji@pgn.com, raa@vnf.com,
Joseph.Alamo@enron.com, ajaldrich@snopud.com, Jeff.Alexander@enron.com,
Al.Alexanderson@enron.com, Keonee.Almaida@enron.com,
hollis.alpert@ferc.fed.us, Brenda.Anderson@enron.com, angles@howry.com,
Alan.B.Aronowitz@enron.com, gdb@vnf.com, npbaker@bpa.gov, ellen@tca-us.com,
paulb@citizenspower.com, paulb@citizenspower.com, garybarbour@email.msn.com,
jbartus@cammckenna.com, glynda.becker@mail.house.gov,
Samuel.Behrends@enron.com, bbennett@bpa.gov, sberman@hewm.com,
ramsen.betfarhad@mail.house.gov, KBILAS@SKADDEN.COM, sbooye@Skadden.com,
raymond.r.boyce@state.or.us, tbradley@bracepatt.com,
scott.brattebo@pacificorp.com, sbrose@steptoe.com, sbuchheit@bracepatt.com,
alanb@wutc.wa.gov, Jim.Byrne@enron.com, vergil.cabasco@mail.house.gov,
johncameron@dwt.com, Doug.Carmichael@enron.com, Ed.Cassidy@enron.com,
ajchambe@llgm.com, Melissa.Chiechi@enron.com, elchristensen@snopud.com,


Hey there team.  We are starting to focus on Dominion pipeline and I need your help explaining the process to Shemin.  I would like to set up a meeting with Gloria, Wade, Shemin, Kathryn as soon as possible.


Start Date: 4/17/01; HourAhead hour: 15;  No ancillary schedules awarded.
Variances detected.
Variances detected in Energy Import/Export schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001041715.txt

---- Energy Import/Export Schedule ----
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 15 / Preferred:  50.00 / Final:  49.99)
  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 4/17/01
  TIE_POINT: FCORNR_5_PSUEDO
  INTERCHG_ID: EPMI_CISO_TOBY
  ENGY_TYPE: FIRM


Here's the outline we sent to FERC yesterday.? I had sent the  following
e-mail last week to Dan Larcamp and Ellen Schall (OGC) of FERC.
?
?

Dan ) I am a senior research fellow at the Mercatus Center at  George Mason
University.? I recently  taught a course to FERC staff on energy derivatives,
and based on that and  discussions with others, think you might benefit from
a broader course to help  FERC staff and commissioners understand prices and
energy markets, particularly  the relationship between cash or spot markets,
and financial markets (including  derivatives).?

We at the Mercatus Center are in a unique position to serve  as a resource to
the Commission and staff on economic/financial issues.? We are a nonprofit,
research, education,  outreach organization, and, as part of our mission are
organized to work with  the administration on different regulatory and market
issues.? We would offer the course at no  charge.

We have in mind a team of experts in energy markets with  unique experiences
and?  perspectives.

Prof. Bill Albrecht, of  Iowa State University is a former commissioner at
the Commodity Futures  Trading Commission.? He was there  in the aftermath of
the Crash of +87, during the Gulf War and other market  crises, and has a
valuable understanding of the issues FERC is facing now,  with respect to the
influence of trading and derivative markets on energy  prices.
Jerry Ellig, Ph.D., is  a senior research fellow at Mercatus and has done
extensive research and  teaching on market infrastructure issues,
particularly in energy markets.
Prof. Vernon Smith, who  has recently joined the faculty of GMU and the
Mercatus Center, is known as  the father of experimental economics.?  You may
be familiar with his sophisticated economic &experiments,8  which offer hands
on experience with energy markets, including transmission  constraints, etc.
and allow participants and researchers to test market  reactions to different
rules, events, etc.
I  am a former CFTC economist, and write and teach courses on risk and risk
management in energy markets.?

Professor Albrecht will be in the area on July 25-26.? Two 3-hour sessions on
those days  (starting in the afternoon after your Commission meeting on the
25th)  would provide a strong introduction to these issues.? We could then
talk about whether future  courses or workshops would be valuable.

I will call you tomorrow to discuss this idea.

?

?

Susan  E. Dudley, Senior Research Fellow, Regulatory Studies Program,
Mercatus Center,  George Mason University?

3401 North Fairfax Drive,  Suite 450, Arlington, VA 22201-4433.?
703-993-4934 (o)??  703-995-4835 (fax)?  703-754-0304 (h)

www.mercatus.org
 - FERC course outline 7-16.doc


Tim,
 Here is the email you should send out with respect to retention of
hard copies of documents.
IMPORTANT EPMI POLICY
 REGARDING HARD COPY DOCUMENTS
WHILE LITIGATION IS PENDING

This policy is in addition to my prior email about the procedure for
handling email and electronic documents.  While most of what we do is
contained within Enron's electronic systems, there still are times when hard
copies are made or needed for running our business.  Here is how you must
handle those hard copy documents:

1. The basic rule is that if you have hard copies of documents that are
used in EPMI's business of selling energy in the WSCC, you must keep those
documents until further notice.  If space becomes a problem, please contact
_____ who can arrange for storage.

2. What constitutes a document?  In some instances you will have one
copy of a document that has your handwritten notes on it, and another copy
that may be clean.  For these purposes both are considered documents and
both must be saved.  Similarly, if several people have copies of the same
document, each separate copy is considered a separate document.  On the
other hand, if you made 10 copies for a meeting and there were 4 left over
that were never handed out or were not used, those may be recycled so long
as you keep the ones that were used.   If you keep handwritten notes for
your work, those would be considered documents as well.  Telephone notes,
charts, printouts of data, spreadsheets etc. all constitute documents.   If
you have a question about what constitutes a document and whether it should
be saved, please ask Christian Yoder and Steve Hall.

3. The goal and purpose of this policy is to make sure that no hard
copies of documents are discarded that are relevant to the wholesale
electricity market litigation.  If hard copy documents are discarded, at a
later point in time EPMI and/or its employees will be criticized for failing
to preserve documents relevant to the wholesale electricity litigation.

4. Personal documents such as shopping lists, personal messages from
friends unrelated to the energy business etc. are not covered by this policy
and you may do with them as you wish.

Tim, if you have questions about this policy, please call me.

Thanks
Gary

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at this time, pure retail will be less of a focus. We need to wait and see where that ends up for EES.

-----Original Message-----
From: Cunningham, Lance
Sent: Tuesday, December 04, 2001 8:58 AM
To: Gilbert-smith, Doug
Subject: FW: RMS Resignation

Doug,

I guess that you will need a replacement for Nancy if we continue to support these meetings.

Lance

-----Original Message-----
From: Hetrick, Nancy
Sent: Monday, December 03, 2001 3:51 PM
To: rms@ercot.com; prs@ercot.com; wms@ercot.com; tac@ercot.com;
set@ercot.com; testplan@ercot.com; tdtwg@ercot.com; ros@ercot.com;
retailcomp@puc.state.tx.us
Cc: connie.corona@puc.state.tx.us; patricia.dolese@puc.state.tx.us
Subject: RMS Resignation

In light of the current events at Enron, it is necessary for me to
resign my position as RMS Chair effective immediately.  I have enjoyed
working with everyone.  I am very grateful for the opportunities
afforded me by chairing RMS.  This position took a lot of work,
dedication and energy but it is one that also made me proud and gave me
a wonderful opportunity to work with so many fine people.    I am
confident that with all of your hard work and dedication the Texas
market will be successful and will be the hallmark for restructuring.

My employment with Enron will be formally terminated tomorrow along with
service at this email address.  I am in the process of setting up a
personal email address which I will distribute as soon as it is
available.  My phone number listed below will stay in service
indefinitely.  Please feel free to call me if you have any questions or
require any information.  Thanks again to all of you and good luck.

Nancy A. Hetrick
13165 Bluebird Lane
Council Bluffs, IA  51503
Phone:  712-366-3399
FAX:  712-366-3499

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