Mike and Rosalie:

Attached hereto please find a final draft of the Term Sheet between the
Houston Rockets and Sports Facilities, L.P.  At your earliest convenience,
please obtain the execution of four signature pages from this Term Sheet and
either messenger the signature pages to me or call me and I will arrange for
a messenger to pick the signatures pages up from you.  I will assemble
executed sets of the Term Sheet for each party after I receive your
signature pages.

If you have any questions or comments please contact me at 713/758-2350.

Mike Telle

 <<4v.6  revised rockets term sheet.DOC>>   <<v.6  revised rockets term
sheet(1).DOC>>

 - 4v.6  revised rockets term sheet.DOC
 - v.6  revised rockets term sheet(1).DOC


Gearing up for first move-in to the new building. My mom also had a stroke in the spring and that's taking huge amounts of time. I'm hanging in there. Certainly can't complain in these times.

Hope you're doing well.

 -----Original Message-----
From: 	Griffith, John
Sent:	Thursday, September 20, 2001 9:26 AM
To:	Larson, Christopher
Subject:

Hey Chris, what is going on?  I haven't talked to you is some time now.  Still staying really busy?

Just a note to say hi.  Hope everything is well.

Talk to you soon.

John Griffith


FYI
---------------------- Forwarded by David Baumbach/HOU/ECT on 07/17/2000
11:07 AM ---------------------------

	Enron North America Corp.

	From:  Megan Parker @ ENRON                           07/17/2000 10:43 AM

To: David Baumbach/HOU/ECT@ECT
cc:
Subject: Re:

Since we cannot fix the deal, go ahead and put a fixed price of $2.81359 on
both lines of the May 2000 deal.  This will allow us to pay correctly.  If
you can, please put some comments in the deal noting the true deal price so
we have an audit trail.  Just let me know when it is done.

Thanks,
Megan


FYI...please for my sanity, lets try and keep these to a minimum in the
future.  Thanks.
PL

P.S.  Thanks in advance for all of your help for me today and tomorrow.

---------------------- Forwarded by Phillip M Love/HOU/ECT on 01/25/2001
02:00 PM ---------------------------

Jeffrey C Gossett
01/25/2001 01:46 PM
To: Kam Keiser/HOU/ECT@ECT, Darron C Giron/HOU/ECT@ECT, David
Baumbach/HOU/ECT@ECT, Errol McLaughlin/Corp/Enron@ENRON, Phillip M
Love/HOU/ECT@ECT
cc: Hunter S Shively/HOU/ECT@ECT, Scott Neal/HOU/ECT@ECT, Phillip K
Allen/HOU/ECT@ECT, Thomas A Martin/HOU/ECT@ECT
Subject: Killing physical deals

We have had a few recent instances where deals have been unwound in TAGG and
not in Sitara.  This, has,  in all cases resulted in a negative financial
impact.  Going forward,  no long-term physical deals will be unwound without
my signature,  and that of the physical trader responsible for trading the
area for which the deal was done.  Also,  all unwind tickets will require
the old TAGG and Sitara deal number to be written on the ticket.


No problem. Tomorrow morning would actually work better than the afternoon.  Can we meet at 9:00?

Stacey Bolton
Environmental Strategies
Enron Corp
713-853-9916 direct
713-303-2632 cell
sbolton@enron.com <mailto:sbolton@enron.com>

 -----Original Message-----
From: 	Ring, Richard
Sent:	Wednesday, September 19, 2001 2:45 PM
To:	Bolton, Stacey
Subject:

Stacey,

I have gotten tied up on a couple of projects this afternoon.  Is it possible that we could meet tomorrow rather than today?  Let me know what your thoughts.

Thanks,

Richard


Sue Mara
Enron Corp.
Tel: (415) 782-7802
Fax:(415) 782-7854
----- Forwarded by Susan J Mara/NA/Enron on 06/07/2001 11:38 AM -----

	Alan Comnes/ENRON@enronXgate
	06/07/2001 09:53 AM

		 To: Tim Belden/ENRON@enronXgate, Robert Badeer/ENRON@enronXgate, Mike
Swerzbin/ENRON@enronXgate, Matt Motley/ENRON@enronXgate, Chris H
Foster/ENRON@enronXgate, Greg Wolfe/ENRON@enronXgate, Tim
Heizenrader/ENRON@enronXgate, Dave Perrino/SF/ECT@ECT, Susan J
Mara/NA/Enron@ENRON, Jeff Dasovich/NA/Enron@Enron
		 cc:
		 Subject: DWR Report Released today


here's your Denver e-ticket!
---------------------- Forwarded by Joseph Alamo/NA/Enron on 06/06/2001 04:20
PM ---------------------------

Cynthia Biggs <cynthia.biggs@travelpark.com> on 06/06/2001 04:06:56 PM
To: "'joseph.alamo@enron.com'" <joseph.alamo@enron.com>
cc:

Subject: final itinerary with ticket nbr for jeff dasovich 13jun travel

                                          AGENT CB/CB BOOKING REF YE3V8U

                                          DASOVICH/JEFF
                                          ENRON CORP
                                          101 CALIFORNIA ST STE 1950
  ENRON CORP                              SAN FRANCISCO CA 94111
                                          MAIL ETKT RCPT

  DATE:  JUN 06 2001

SERVICE               DATE  FROM           TO             DEPART  ARRIVE

UNITED AIRLINES       13JUN SAN F CA       DENVER CO      1220P   349P
UA 492     H          WED   SAN FRANCISCO  DENVER INTL
           NON SMOKING      TERMINAL N
                            LUNCH                         NON STOP
                            RESERVATION CONFIRMED         2:29 DURATION
                  AIRCRAFT: BOEING 757-200/300
                            SEAT 28A NO SMOKING CONFIRMED DASOVICH/JEFF(I
                   NO AISLE SEATS AVAIL BOOKED WINDOW

UNITED AIRLINES       15JUN DENVER CO      SAN F CA       235P    404P
UA 533     H          FRI   DENVER INTL    SAN FRANCISCO
           NON SMOKING                     TERMINAL N
                                                          NON STOP
                            RESERVATION CONFIRMED         2:29 DURATION
                  AIRCRAFT: BOEING 777-200/300
                            SEAT 32G NO SMOKING CONFIRMED DASOVICH/JEFF(I
               THIS IS A NON-REFUNDABLE FARE THAT REQUIRES
               TRAVEL ON THESE SPECIFIC DATES AND FLIGHTS.
               ANY CHANGES WILL RESULT IN A PENALTY AND/OR
                         ADDITIONAL COLLECTION.
           **************************************************
         YOUR TICKET REFLECTS A NEGOTIATED DISCOUNT FROM THE TAP
              THE PUBLISHED FARE FOR THIS TICKET IS $664.00
           **************************************************

MISCELLANEOUS         13OCT HOUSTON TX
                      SAT   ** THANK YOU FOR USING THE TAP **

RESERVATION NUMBER(S)  UA/MS70PQ

DASOVICH/JEFF  S0C0011R1000              TICKET:UA/ETKT 016 7029794382

*******************************************
INTL TVLRS: CARRY SOS WALLET CARD W/ENRON ASSISTANCE INFO
CALL SOS MEDICAL EMERGENCY:IN U.S 800 523-6586
CALL SOS MEDICAL EMERGENCY:INTL 215 245-4707 (COLLECT)
*********************************************
THIS IS THE PASSENGER RECEIPT FOR YOUR ELECTRONIC TICKET.
PLEASE CHECK-IN WITH PHOTO IDENTIFICATION AND WITH
EITHER (1) THIS RECEIPT OR (2) YOUR CONFIRMATION NUMBER.
YOUR ETKT CONFIRMATION NUMBER IS: MS70PQ
******************************************************
THIS IS A NON-REFUNDABLE FARE THAT REQUIRES
TRAVEL ON THESE SPECIFIC DATES AND FLIGHTS.
ANY CHANGES WILL RESULT IN A PENALTY AND/OR
ADDITIONAL COLLECTION.
FARES CHANGE FREQUENTLY. WE WILL HAPPILY RE-EVALUATE
YOUR FARE UPON REQUEST.
*******************************************************
TICKET PRICE IS 486.46 ROUNDTRIP NONREFUNDABLE
ALL FARES ARE SUBJECT TO CHANGE UNTIL TICKETED/PURCHASED


That is good to hear.  Give me a call today as you indicated.

Mat

"kristen iles" <ksiles@hotmail.com> on 01/04/2001 06:51:41 AM
To: matt.smith@enron.com
cc:

Subject: skiiiiiiiing

Hey cutie

It's all good.  I e-mailed Sharon and Bill and gave Duncan the skinny.  Bill
is in and he, Duncan and I are sending you the $308 asap.   I did not yet
hear back from Sharon but I have to assume she is in.  Also, Sandra
Lewis(GK's Sandra)  said she may be into the trip, just waiting to hear back
on that.

While everyone seemed to feel the 22nd-25th sounded fine they all expressed
interest in mid-march as well.  Did you find out when it might be availible
then???  I'll call you today for a final chat!
love, k
_________________________________________________________________
Get your FREE download of MSN Explorer at http://explorer.msn.com


With pleasure.

822 Columbia
Houston Texas  77007


Western Government Affairs
WEEKLY SCHEDULES
For the Week of May 28 ) June 1, 2001

Paul Kaufman

Mon  5/28  Memorial Day
Tue  5/29  Portland OR office, a.m.; Cheyenne, p.m.
Wed  5/30  Cheyenne
Thur  5/31  Portland OR office
Fri  6/1  Portland OR office

Sue Mara

Mon  5/28  Memorial Day
Tue  5/29  San Francisco CA office, a.m.
Wed  5/30  AReM meeting in Sac'to
Thur  5/31  San Francisco CA office; Kid duty a.m. & p.m.
Fri  6/1  Kid duty a.m. & p.m.;
   10 a.m. ) 3 p.m.:  IEP Public Affairs meeting ) Sacramento CA

Jeff Dasovich

Mon  5/28  Memorial Day
Tue  5/29  San Francisco CA office*
Wed  5/30  San Francisco CA office*
Thur  5/31  San Francisco CA office*
Fri  6/1  San Francisco CA office*

Sandi McCubbin

Mon  5/28  Memorial Day
Tue  5/29  Sacramento CA
Wed  5/30  Sacramento CA
Thur  5/31  San Francisco CA; Los Angeles CA
Fri  6/1  San Francisco CA

Mona Petrochko

Mon  5/28  Memorial Day
Tue  5/29  Atlanta GA*
Wed  5/30  Atlanta GA/Tampa FL*
Thur  5/31  Tampa FL
Fri  6/1  Tampa FL

Alan Comnes

Mon  5/28  Memorial Day
Tue  5/29  Enron, Washington DC office
Wed  5/30  Enron, Washington DC office
Thur  5/31  Enron, Washington DC office
Fri  6/1  Portland OR office

*Subject to change


Carol,

1. We have set up the Master User from Aquila Risk under Utilicorp.  We do
not require any further paperwork from them, however, we do need them to set
up their sub-users.  I am going to follow up with Angela Webber at Utilicorp
tomorrow to make sure that sub users are set up.

2. I will notify you once sub-user accounts have been set up and then wait
for your instructions as to when we will shut Aquila Risk down for trading.

Thanks,
Stephanie x33465

   Carol St Clair                06/19/2000 11:49 AM

To: Stephanie Sever/HOU/ECT@ECT, Frank L Davis/HOU/ECT@ECT
cc: Susan Bailey/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Brant Reves/HOU/ECT@ECT
Subject: Utilicorp

Stephanie and Frank:
Both Susan Bailey and I have spoken with Utilicorp's attorney and here is my
understanding of where things stand:

1. On Friday, it was my understanding that they submitted their password
application and that the problem was that the person that they needed to set
up the sub-user passwords was not in the office.  My understanding is that he
will be in on Tuesday and that is when they are going to try to set up those
accounts.  Does that require them to send any paperwork to us?

2. Once the sub-user accounts are set up, then we need to pick a date for the
Transfer Agreement to become effective.  Since we are changing the date from
June 16th, this will require someone from Utilicorp to initial the change and
their attorney wasn't sure when that will happen.  Once the new date is
picked and initialed, then we can begin trading under Utilicorp's name, but
nothing should be done until before then.  Either Susan or I will let you
know when that date is.

Please call me at 33989 if you have any questions.
Carol


I just received a copy of a Section 5 complaint filed by SoCal requesting a
FERC order 1) determining that the SoCalGas/Topock delivery point is fully
subscribed on a firm primary basis, 2) directing El Paso to comply with
previous Commission orders that preclude the selling of firm primary capacity
at points where none is available and 3) directing El Paso to schedule
capacity acquired during an open season (effective Jan. 1, 2000) into
SoCal/Topock on a secondary basis only.  SoCal states that it has experienced
daily cuts of up to 57% and averaging 25%.

If you would like a copy of the complaint, let me know.


Start Date: 4/21/01; HourAhead hour: 19;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001042119.txt

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

  TRANS_TYPE: FINAL
  SC_ID: HARBOR
  MKT_TYPE: 2
  TRANS_DATE: 4/21/01
  UNIT_ID: HARBGN_7_UNITS


No !  You need to talk to Kim about this.

-----Original Message-----
From: Grigsby, Mike
Sent: Monday, October 15, 2001 10:29 PM
To: Bike, Anne; Ward, Kim S (Houston)
Subject: RE: Palo Alto historical loads

Did we rebook the orig for the reduced volumes?  Please send me the rebooked volumes.

Thanks,
Mike

-----Original Message-----
From: Bike, Anne
Sent: Wed 10/3/2001 6:31 PM
To: Grigsby, Mike
Cc:
Subject: RE: Palo Alto historical loads

I forwarded the invoice to you.  It contains all of the calculations.  Please let me know when you would like to meet. I can get Ina to set it up if you need me to.

-----Original Message-----
From: Grigsby, Mike
Sent: Wednesday, October 03, 2001 3:03 PM
To: Bike, Anne
Cc: Ward, Kim S (Houston)
Subject: RE: Palo Alto historical loads

Please define close?  Also, what is the outstanding issue with Redwood?  Please set up another meeting with a copy of the actual flows to Palo, sales prices, third party deals and an example of an invoice.  I would like to walk through the deal.

Thanks,
Mike

-----Original Message-----
From: Bike, Anne
Sent: Wednesday, October 03, 2001 7:25 AM
To: Grigsby, Mike
Subject: RE: Palo Alto historical loads

I met with Settlements on Friday, and we were relatively close for the August invoice.  The Redwood Gas is an outstanding issue for us and Palo Alto.  When we finished on Friday we left a few action items, but my take on the meeting was that we have the deal in the system in a manner that will flow to the back office groups relatively smoothly.

I will keep you posted.

Thanks

Anne

-----Original Message-----
From: Grigsby, Mike
Sent: Tuesday, October 02, 2001 1:54 PM
To: Bike, Anne
Subject: RE: Palo Alto historical loads

How is this issue?

-----Original Message-----
From: Bike, Anne
Sent: Wednesday, September 19, 2001 7:15 PM
To: Grigsby, Mike
Subject: RE: Palo Alto historical loads

I will set up a meeting with settlements to make sure that everything looks good from their end, and to clarify the payments that are made.  I also need to meet with volume management to emphasize how the volumes should be allocated when the actuals arrive from the pipeline statements.  I think that Daniel has the scheduling issues under control.  Jason, Daniel, and I worked to get everything straight for September.  October will not be much different.  The only exception for October is that we do not have any third party gas coming from Enron, only BP.   This actually makes life easier. As soon as I meet with the 2 back offices groups, I will report what I learned.  Based on my meetings with settlements during July's process, I am confident that the deal is booked as well as the system can handle. However, checking and double checking the processes will not hurt.

I will schedule something with you and Kim after my other meetings.  Hopefully next week.

Imbalances for Rockies and Citizens -  I will let you know.

We just finished cleaning up the SOCAL imbalances.  We are clear through June as far as P/L is concerned.  I think Matt Smith was working on July.  We did have some old issues to clean up as the process was passed from Kim O. to Jane, but we have worked through the problems.

Thanks for the note on the group.  I am holding a learning lunch tomorrow.  I want to make sure that our processes are as tight as possible, especially since bid-week is coming up.  We have a good method for checking that all of the failed desk to desk deals are booked correctly, so it should go more smoothly.  It will still be slow.  Also, Randy Bhatia is working with EOL on resolving their logic issues.  We are working towards a solution that will get the deals booked automatically.   I will let you know the time line soon.

I have a question.  What does the "Wood" report mean ?

See you.

Anne

-----Original Message-----
From: Grigsby, Mike
Sent: Tuesday, September 18, 2001 8:51 PM
To: Bike, Anne
Subject: RE: Palo Alto historical loads

Disregard attachments.  How does the system know not to pay Palo for the gas daily deal at malin?  You did this because gas daily will not show up as risk and Kim puts together a manual invoice and will not pay them for the third party supply?  I want this deal to flow in the event Kim decides to travel the world.

Please set up another meeting to discuss this deal.  i will never understand.  is it just me?

Also, i still need to clean up imbalance deals from July with citizens and in the rockies.

By the way, you are doing a great job.  It seems like your group is getting their books run early.

Also, have you ever talked to your group about secrecy and the fact that we never tell anyone in the market about P&L and/or positions.  Just a reminder.  You may want to talk to them about confidentiality.  You never know who has a roommate from college at El Paso or Dynegy.  Right?

-----Original Message-----
From: Bike, Anne
Sent: Tue 9/18/2001 3:56 PM
To: Grigsby, Mike
Cc:
Subject: RE: Palo Alto historical loads

Mike:  Am I supposed to do something with the attachments ?  They did not transfer through on the e-mail you forwarded.  Kim has never given me any additional information regarding the loads.  All we did on this deal recently was book the newest fixed price deal at Malin, and book the BP volumes (3rd party deals) that have been projected at Malin.

On the BP gas: ..... We book a deal in which ENA purchases gas from Palo Alto at Gas Daily flat.  Daniel Schedules the gas on the transport directly from BP.  We enter the purchase in our system to show that you have 1,500 mmbtu/day at Malin that must be put on the transport to City Gate.

We have not rebooked the origination.  I am still using the estimated burns that were given to me at the inception of the deal.

Let me know if this clears everything up.

Thanks

Anne

 -----Original Message-----
From:   Grigsby, Mike
Sent:   Tuesday, September 18, 2001 2:52 PM
To:     Ward, Kim S (Houston); Bike, Anne
Subject:        RE: Palo Alto historical loads

Will show me how this deal and the orig was rebooked?  Also, please show me how the third party deals were booked.

Mike

 -----Original Message-----
From:   Ward, Kim S (Houston)
Sent:   Tuesday, August 28, 2001 6:44 PM
To:     Grigsby, Mike
Subject:        Palo Alto historical loads

 << File: loaddata_June&July_2001.xls >>

 << File: actualloadapril&may.xls >>

 << File: daily usage values2.xls >>


Brian -

Attached is the Cygnifi non-disclosure agreement marked to reflect my
comments.  Please take a look at this when you have a chance, if all is in
order, I will be happy to forward to Cygnifi for review and comment.

Mark
Senior Counsel, EWS
Phone:     713-345-8897
Facsimile: 713-646-3490
E-Mail:      Mark.Greenberg@enron.com


how long do you have your lease at midtown?


Harry, Iris and Brandon:

I asked ConEd if they were prepared to hear our OFFER to buy peaking capacity from the Lakewood expansion.  They are "in the midst of preparing a draft term sheet for purchasing the output/tolling" so we'll have to wait to see the parameters of sale.

I also asked if they would like to see PJM WEST synthetic toll offer from us.  Unfortunately, NO.

To the extent it matters, the on-line date is now set for late 2002, so they would like to see our offer for a Jan '03 start date.  Given that these guys are doing a real comparison against bricks and mortar, we would be looking at a $63 million option premium for 500MW @ 3.50/KW-mo over a three-year term; $84 million for a four-year term, I would hope we could be able to find a way to hedge the risk of too many $500 hours killing us.  Is there any cap we could buy to protect our downside risk here and still make this deal attractive?  The heat rate call is struck at 10,900!


Where are the wharton analysts?

Charlene Jackson@ENRON
10/17/2000 08:52 AM
To: Jeffrey A Shankman/HOU/ECT@ECT
cc:
Subject: Re: Super Saturday Participation

I will schedule you for Nov. 11th.  If you are around on Dec. 9th we will use
you but I will also make sure we have someone else.  We don't generally do a
spring Super Saturday.  We ask the teams to bring back their best two or
three candidates and then we get together informally to decide.  I will let
you know when that begins to take place.  I would like to get a small group
of commercial people for that process as we did with the summer offer
process.    It generally takes place in February and March.
I will keep you informed.
Thanks Charlene

Jeffrey A Shankman@ECT
10/17/2000 08:44 AM
To: Charlene Jackson/Corp/Enron@ENRON
cc: Jennifer Burns/HOU/ECT@ECT

Subject: Re: Super Saturday Participation

Nov 11 is great, and I'll try to help out Dec 9.  (I'll be out of town Nov
4).  I'd also be happy to look now at the spring schedule.

Jeff

Charlene Jackson@ENRON
10/17/2000 08:32 AM
To: Jeffrey A Shankman/HOU/ECT@ECT
cc: Shelly Jones/HOU/ECT@ECT, Cheryl Kuehl/Corp/Enron@ENRON
Subject: Re: Super Saturday Participation

Jeff thanks alot.  I really appreciate it.  Here are the schedule of schools:

November4th (Analysts)
Rice, UT, Baylor, Texas A&M, OU, Florida, LSU and Univ. of Houston

November 11th (Associates)
Columbia, NYU Stern, UCLA, UVA (Darden), Cornell and Vanderbilt

December 9th
Wellesley, overflow and re-schedules from previous Super Saturdays

If you don't have a preference. I would prefer that you do either November
4th or 11th.  I think that would be most beneficial.  You are certainly
welcome to do both but I didn't want to push my luck (smile). Please let me
know as soon as possible so that I can get someone else for the ones you
can't attend.

Again, thanks alot.
Charlene

Jeffrey A Shankman@ECT
10/17/2000 08:02 AM
To: Charlene Jackson/Corp/Enron@ENRON
cc:

Subject: Re: Super Saturday Participation

Glad to help.  Can you get me the schedule as to which schools will be here
on those dates.

Jeff

Charlene Jackson@ENRON
10/16/2000 02:46 PM
To: Jeffrey A Shankman/HOU/ECT@ECT
cc: Jeff Skilling/Corp/Enron@ENRON, Jennifer Burns/HOU/ECT@ECT, Cheryl
Kuehl/Corp/Enron@ENRON, Shelly Jones/HOU/ECT@ECT
Subject: Super Saturday Participation

Jeff,
To ensure that the business units are involved in the recruiting of top
quality candidates I am requesting your assistance in the Super Saturday that
is scheduled for either Saturday, November 4th, November 11th or December
9th.  We would like for you to participate as follows:

Be the speaker at breakfast
Interview candidates
Facilitate the decision making meeting

The breakfast is from 7:30 AM until 8:30 AM.  The speech would begin at
approximately 8:00 AM and need not be more than 15 to 20 minutes.  You would
interview approximately 4-6 candidates.  A vital part of the process is
determining which candidates will receive offers to join the Program.  We
would like for you to facilitate the decision making meeting.  The meeting
will be held in 5C2 beginning at 1:30 PM. and conclude by 3:30 PM.  We will
provide the administrative assistance.
Your assistance and input would be greatly appreciated.  Please let me know
as soon as possible of your availability.
Thanks in advance.

By the way thanks for the help you have provided with Penn at both the
graduate and undergraduate level.  It is very much appreciated.

Charlene


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

Solicitation of Credentials from Candidates
for the position of Vice-Chairperson of the NYISO Business Issues Committee
          for a one-year term from December 2001 ? November 2002

     The Nominating Committee of the NYISO Business Issues Committee is
seeking qualified individuals willing to serve as Vice-Chairperson of the
Committee.
     The scope of responsibilities of the Business Issues Committee can be
found in Article 9 of the ISO Agreement.  As specified in the Agreement,
the Chairperson and Vice-Chairperson will serve a one-year term, and the
Vice-Chairperson will become the Chairperson following the completion of
the Chairperson's term.  The Agreement further specifies that the
individuals elected to these positions may not be active in the same
sector, nor may they be representatives of members that occupy the
Chairperson or Vice Chairperson positions of the Operating Committee or
Management Committee.
     These provisions, at this time, preclude representatives of the
following companies, their affiliates and representatives in the following
sector from consideration for Vice-Chairperson for the upcoming term:
?    Other Suppliers
?    Niagara Mohawk
?    Con Ed Solutions
?    New York Power Authority

     The Nominating Committee will review the credentials of the presenting
candidates and may screen the pool.  Although the Nominating Committee is
required (pursuant to the BIC By-Laws) to bring at least one qualified
candidate before the Business Issues Committee for election, the Committee
encourages all qualified persons with an interest in this position to
submit their credentials.
     The Nominating Committee requests that interested individuals, who are
not representatives of the members or sectors listed above, to present the
following material by 5:00 pm, September 7, 2001.

?    A current resume
?    Brief answers to the following questions:
1.   Please describe all experience you have had in chairing groups or
committees of diverse interests, with a list of such groups.
2.   Please describe the support of your organization for your assuming the
position of Vice-Chairperson, and describe your ability to make the
necessary time commitment.
3.   Please describe any training or experience you have had in mediation,
ADR or consensus building.
4.   Please describe briefly why you would like to have this job.
5.   Please describe briefly your organizations actual and/or potential
business interests in the Northeast and New York State, including the
sector in which your organization participates for purposes of NYISO
governance.

Please send this information by electronic mail to:
     Mollie Lampi, NYISO, (tel) 518-356-7530, (e-mail) mlampi@nyiso.com
     Bradley Kranz, NYISO, (tel) 518-356-6128, (email) bkranz@nyiso.com


Start Date: 4/14/01; HourAhead hour: 23;  No ancillary schedules awarded.
Variances detected.
Variances detected in Energy Import/Export schedule.
Variances detected in SC Trades schedule.
Variances detected in Load schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001041423.txt

---- Energy Import/Export Schedule ----
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 23 / Preferred:  12.00 / Final:  11.98)
  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 4/14/01
  TIE_POINT: PVERDE_5_DEVERS
  INTERCHG_ID: EPMI_CISO_SPP
  ENGY_TYPE: WHEEL

---- SC Trades Schedule ----
+++ Hour 23 - bad data from ISO.
  TRANS_TYPE: FINAL
  SC_ID: EPMI
  MKT_TYPE: 2
  TRANS_DATE: 4/14/01
  TRADING_SC: NCPA
  PNT_OF_INTRC: ZP26
  SCHED_TYPE: ENGY
  PURCH_SALE: 2
  DEAL_NO: 1

---- Load Schedule ----
$$$ Variance found in table tblLoads.
     Details: (Hour: 23 / Preferred:  46.92 / Final:  46.89)
  TRANS_TYPE: FINAL
  LOAD_ID: PGE3
  MKT_TYPE: 2
  TRANS_DATE: 4/14/01
  SC_ID: EPMI


When: Tuesday, January 08, 2002 1:30 PM-2:30 PM (GMT-06:00) Central Time (US & Canada).

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


Thanks.  We are preparing a memo (John has seen it) to go out to each of our
offices telling them about this incident (and the related ones that occurred
the same day) and including some tips on how to handle such confrontations in
the future.

John_Presley@enron.net on 05/23/2001 02:14:25 PM
To: SKean@enron.com, Mark.Palmer@enron.com
cc: John_Brindle@enron.net, David_Cromley@enron.net

Subject: Electricity Issues

Steve/Mark,

I have looked into the demonstration by the ACORN group which occurred on 5/21
at our New York Office (780 3rd Ave). I believe you are well aware of the
incident as the office there immediately contacted Mark Palmers group. I will
respond to the building management to discuss security issues and to gain a
better understanding of the security posture of the facility. If you have any
questions or require further follow-up please let me know. - John P.

John Presley
Business Controls
Enron Corp (EB4646)
Ext. 58208
----- Forwarded by John Presley/Enron Communications on 05/23/01 01:59 PM
-----
|--------+----------------------->
|        |          John Brindle |
|        |                       |
|        |          05/23/01     |
|        |          01:21 PM     |
|        |                       |
|--------+----------------------->

>----------------------------------------------------------------------------|

|                                                                            |
  |       To:     Skean@enron.com,
Mark.Palmer@enron.com                       |
  |       cc:     John Presley/Enron Communications@Enron
Communications       |
  |       Subject:     Electricity
Issues                                      |

>----------------------------------------------------------------------------|

Steve/Mark - I have asked John Presley to look into this.  I am leaving the
building right now, but John will be in touch.  Please contact him (58208) if
you need anything before he calls you.

                              John

John Brindle
Enron Corporation
Business Controls
Tel: 713.853.3843
Fax:713.646.8838
email: John_Brindle@Enron.net

----- Forwarded by John Brindle/Enron Communications on 05/23/01 12:58 PM
-----
|--------+----------------------->
|        |          Paula Corey  |
|        |                       |
|        |          05/23/01     |
|        |          10:34 AM     |
|        |                       |
|--------+----------------------->

>----------------------------------------------------------------------------|

|                                                                            |
  |       To:     John Brindle/Enron Communications@Enron
Communications       |
  |       cc:
 |
  |       Subject:     Electricity
Issues                                      |

>----------------------------------------------------------------------------|

John

I have just gotten off the phone with the building management for our facility
in New York. We were picketed at 780 3rd Ave and the 100 picketeers stormed
the
lobby. We will accrue some additional costs for added security and apparatntly
the local police were not really on top of the deal. He would like us to
provide
any advance notice if we ever have access to this information. Our office was
spared as thet shut down the elevators during the disturbance.

He will be happy to speak with you.

I am on my cell     713.560.7763

Paula


Attached is PIRA's latest "Electricity Daily Demand Forecast."

If you have any questions regarding the report's content, please contact
Morris Greenberg (email: morris@pira.com) or Victoria Watkins (email:
vwatkins@pira.com), at (212) 686-6808.

Contact John Graziano regarding PIRA report distribution and address changes
at (212) 686-6808, email: support@pira.com.

NOTE: Circulation of the "Electricity Daily Demand Forecast" outside a
Client's licensed distribution area is strictly prohibited. Clients that are
unsure of their licensed distribution or require an extension of their
current license should contact their PIRA sales representative, or email to
sales@pira.com.

PIRA Energy Group

 - ed060801.pdf
 - ed060801.xls


Dec. 21, 2000
Teco Tap  0.000 / Enron ; 18.750 / HPL Gas Daily

Dec. 22, 2000
Teco Tap  30.000 / Enron ; 80.417 / HPL Gas Daily

Dec. 23, 2000
Teco Tap  0.000 / Enron ; 6.250 / HPL Gas Daily

Dec. 24, 2000
Teco Tap  40.000 / Enron ; 110.000 / HPL Gas Daily

Dec. 25, 2000
Teco Tap  40.000 / Enron ; 110.000 / HPL Gas Daily


Transmission Expansion and Systems in Transition  Conference

Feb. 5-8, 2002, Miami, Florida

OVERVIEW

This conference will examine the business and regulatory challenges to U.S. electric systems in transition in effectively expanding transmission capacity to meet new demands in the larger and more competitive regional markets emerging under FERC's RTO initiatives.  The conference will review the parameters of these challenges and possible solutions to them.  It will examine technology options and new business models for transmission expansion.  It will analyze emerging proposals for effective transmission planning and pricing, including market-based pricing alternatives to FERC's traditional pricing methods. The conference will also discuss what it will take in legislative action and regulatory initiative to achieve an efficient regime for ensuring that the nation has a reliable grid and regional trading system.

The brochure for the Conference and associated Workshops can be obtained by clicking on the link below:

http://www.euci.com/pdf/trans_expn.pdf

Electricity Market Design Conference

March 25-26, 2002, Atlanta, Georgia

OVERVIEW

This Conference will focus on how to design competitive electricity markets that maximize the benefits to consumers while at the same time maintaining the financial viability of companies participating in these markets.

The brochure for the Electricity Market Design Conference, March 25-26, 2002, Wyndham Hotel Downtown, Atlanta, GA can be obtained by clicking on the link below:

http://www.euci.com/pdf/MrktDesgn.pdf

Power Generation Asset and Portfolio Management Conference

March 26-28 2002, Atlanta, Georgia

OVERVIEW

This conference will highlight the commonalties and common applications between the asset management processes used throughout the enterprise.  The conference will emphasize the need to link the physical power generation asset management processes to the activities and processes of the trading and marketing process.  The processes of Asset management will be addressed from three distinct perspectives, first, the long-term perspective of portfolio developers, second the more medium term perspective of maintenance/system planners and third the conference will link short term issues of the trading & marketing departments. The purpose is to show how these processes can be integrated to the individual assets (plants) in order to provide consistent and profitable strategies for the generation asset owner.

The brochure for the Power Generation Asset and Portfolio Management Conference, March 26-28, 2002, Wyndham Hotel Downtown, Atlanta, GA can be obtained by clicking on the link below:

 http://www.euci.com/pdf/powergeneration.pdf

Ancillary Services Conference

April 10-12, 2002, Denver, Colorado

OVERVIEW

As more and more regions in North America open wholesale markets to competition, the importance of ancillary services is increasingly recognized. These services, generally provided by the same generators that produce the competitive energy product, are vital for both commerce and reliability.

This conference will cover the key engineering, economic, market, and policy issues associated with these functions. The conference will also present updates on the status of the various markets (including market design and operation problems and their solutions, successes, prices and costs) in North America. These markets include New England, New York, PJM, ERCOT, and Alberta. Developing markets, such as Ontario, will also be covered. The market designs encompass issues such as day-ahead scheduling, real-time operation, integration with the markets for energy and congestion, measuring the real-time delivery of these services, the operating costs to produce these services, and the potential for customer loads to supply these services.

The brochure for the Ancillary Services Conference, April 10-12, 2002, Wyndham Hotel - Tech Center, Denver, CO can be obtained by clicking on the link below:

http://www.euci.com/pdf/anc_svcs.pdf

Please print the brochure and fax the registration form back to us at 303-741-0849 if you would like to attend any of these events. You can also register by calling us at 303-770-8800 or online.

We have updated our website to include new conference proceedings on recently-held "Electric Power Market Performance", "Performance-Based Ratemaking", "Ancillary Services", "Performance Management for Electric Distribution Companies", "Power Generation Asset Management", and "Power T&D Asset Management" conferences. Please visit www.euci.com and review the conference proceedings section for these and other proceedings.

Kindly forward this announcement to your colleagues who might benefit from attending these events.

Best Regards,

L. Mrig

Electric Utility Consultants, Inc. (EUCI)

5555 Preserve Drive

Greenwood Village CO 80121

Tel: 303-770-8800

Fax: 303-741-0849

lmrig@euci.com


Due to scheduling conflicts, this meeting has been moved to 8-9am, Wednesday, June 20.


Excellent update Mike.   We have good momentum with some key "players" on the ropes.   I view the next two months as critical in moving the Midwest to one functional market.

-----Original Message-----
From: Roan, Michael
Sent: Fri 9/28/2001 3:57 PM
To: Abler, William; Baughman, Edward D.; Carroll, Lex; Clynes, Terri; Dalton III, Oscar; Kelly, Mike E.; Ratliff, Beau; Sewell, Doug; Valderrama, Larry
Cc: Presto, Kevin M.; Nicolay, Christi L.; Merola, Jeff; Steffes, James D.; Imai, Rika
Subject: Midwest Update

Back in May the MidWest regulatory team received two instructions.  Firstly, build a market in the MidWest that uses LMP to clear real time settlements and secondly ensure that that there is one market operator/RTO (i think the phrase was 'kill the Alliance' or something along those lines...).

The strategy we have, and continue to employ to achieve this is twofold:
- work with the MISO to reshape its day 2 congestion management proposal based on the above instructions.  The MISO is currently proposing a market design consistent with that set out in May (a strawpaper will be circulated in October that i will send around for comment).

- marginalise the Alliance proposal by focusing on its governance structure (all decision rights held by incumbents) while educating stakeholders on the benefits of moving to a more transparent market platform such as that proposed by MISO.  Alliance is currently imploding; one member has left (Detroit Edison) and five are rumoured to be considering their options (Consumers follow DTE to MISO and VEPCO, FE, Comed/Exelon and AEP to PJM).  It is unclear whether these rumours have much basis but as a result of the recent flurry of filing (and more importantly protest) activity, it is clear that the Alliance proposal is totally unacceptable to all stakeholders.

In the last 2 weeks, Enron responded to the following filings:
- MISO and Alliance 120 day compliance filings.
- Alliance business plan.
- National Grid proposal to become Alliance managing member.
- ITC (Detroit Edison) joining MISO.

To summarise these pleadings Enron asked FERC to mandate 1 RTO in the MidWest and set out the its favored governance and market structures (there was a high degree of support from all stakeholder groupings although Enron was the only party to ask for this guidance directly).  On Wednesday FERC took a step in this direction, stating that it wanted a standard market design throughout the US (FERC is believed to support PJM) and that the MidWest structure warranted direct attention in the near future.  Alliance stakeholders took a further step by voting to suspend Alliance market development activities and fold these activities into the MISO process to ensure consistency across the region.

We are also working on further responses to the Alliance 120 day compliance, the MISO/Alliance generator interconnection and a similar intervention in the Indiana state proceeding for transfer of assets to the RTOs to add further weight to Enron's arguments.

So we are seeing action as a result of consistent pressure.  I am now comfortable saying that we are close to achieving the goal (but the fat lady hasn't started her last stanza yet, the Alliance will likely continue to wriggle a little in the coming months )....the downside being that and there is a high probability that the combined MISO/Alliance RTO) will not begin operations on 12/15/01.  So the task in the next month will most likely change from beating up on the incumbents to reconciliation in an effort to get one functional RTO in the MidWest as quickly as possible.

regards
Mike


Yes, that is what we agreed to.
CF

	Sara Shackleton@ECT
	11/13/2000 11:28 AM

		 To: Clint Freeland/Corp/Enron@Enron, Ryan Siurek/Corp/Enron@ENRON, Jim
Armogida/Corp/Enron@ENRON
		 cc:
		 Subject: Enron Forward/Assignment confirms

Clint:  Please verify cap of 4,164,300, Price Trigger Event occuring at USD
55.00 for 3 consecutive Exchange Business Days and Spread of +.60 % from
8/4/00 through 11/16/00 and +.80% from 11/17/00 through 8/4/01.

Ryan:  Check my voice mail about revising your language to add "in bankruptcy
or in liquidation".
----- Forwarded by Sara Shackleton/HOU/ECT on 11/13/2000 11:10 AM -----

	"Franz, Philip" <pfranz@lehman.com>
	11/13/2000 09:39 AM

		 To: "'sara.shackleton@enron.com'" <sara.shackleton@enron.com>,
"'clint.freeland@enron.com'" <clint.freeland@enron.com>
		 cc: "Rosica, Paul" <prosica@lehman.com>, "Karna, Angie" <AKarna@lehman.com>,
"Franz, Philip" <pfranz@lehman.com>
		 Subject: Enron Forward/Assignment confirms

Sara and Clint,
For your review per Paul...

 <<ENA.ENE.Assignment.11.13.00.doc>>

 <<Enron.forward.11.13.00.doc>>

 <<ENRON.ML.Assignment.11.13.00.doc>>

Regards,
Phil

Phil Franz
Transaction Management/Equity Derivatives
Lehman Brothers
(212)526-8482
pfranz@lehman.com
> This message is intended only for the personal and confidential use of the
> designated recipient(s) named above.  If you are not the intended
> recipient of this message you are hereby notified that any review,
> dissemination, distribution or copying of this message is strictly
> prohibited.  This communication is for information purposes only and
> should not be regarded as an offer to sell or as a solicitation of an
> offer to buy any financial product, an official confirmation of any
> transaction, or as an official statement of Lehman Brothers Inc., its
> subsidiaries or affiliates.  Email transmission cannot be guaranteed to be
> secure or error-free.  Therefore, we do not represent that this
> information is complete or accurate and it should not be relied upon as
> such.  All information is subject to change without notice.
>

 - ENA.ENE.Assignment.11.13.00.doc
 - Enron.forward.11.13.00.doc
 - ENRON.ML.Assignment.11.13.00.doc


Jeff,

Jacques Craig will draw up a release.  What is the status on the quote from
Wade?

Phillip


fyi- wasn't there a discussion on this at prc? rick
---------------------- Forwarded by Rick Buy/HOU/ECT on 01/17/2001 08:27 AM
---------------------------

	From:  William S Bradford                           01/17/2001 08:11 AM

To: Rick Buy/HOU/ECT@ECT, John J Lavorato/Corp/Enron@Enron
cc: Jason R Williams/NA/Enron@ENRON, Brant Reves/HOU/ECT@ECT, Tanya
Rohauer/HOU/ECT@ECT, Rod Nelson/LON/ECT@ECT
Subject: Imperial Holly Corporation

We actually forced Craig Breslau and Fred Lagrasta to unwind an unapproved
one year trade with their subsidiary Savannah Foods in April 2000.  In
hindsight, it appears to be quite a good call.

Bill

---------------------- Forwarded by William S Bradford/HOU/ECT on 01/17/2001
07:10 AM ---------------------------

Jason R Williams@ENRON
01/17/2001 07:51 AM
To: William S Bradford/HOU/ECT@ECT, Tanya Rohauer/HOU/ECT@ECT, Tom
Moran/HOU/ECT@ECT, Russell Diamond/HOU/ECT@ECT, Brant Reves/HOU/ECT@ECT,
Veronica Espinoza/Corp/Enron@ENRON, Rudwell Johnson/NA/Enron@ENRON, Darren
Vanek/NA/Enron@Enron
cc:
Subject: Imperial Holly Corporation

FYI, Imperial Holly Corporation filed for Chapter 11 protection yesterday.
Counterparties affected would be:

  Imperial Holly Corporation
  Holly Sugar Corporation

At the present, we have no trades with either of these counterparties.

Jay


FYI-

The list that I referred to at yesterday's meeting.  . .

Thanks,
Carrie
---------------------- Forwarded by Carrie Hollomon/HOU/ECT on 07/13/2000
05:39 PM ---------------------------

	Enron North America Corp.

	From:  Jeffrey C Gossett                           07/07/2000 10:30 AM

To: Carrie Hollomon/HOU/ECT@ect, William Kelly/HOU/ECT@ECT, Steve
Venturatos/HOU/ECT@ECT, Dutch Quigley/HOU/ECT@ECT
cc: Susan Harrison/HOU/ECT@ECT, Steve Jackson/HOU/ECT@ECT, Brent A
Price/HOU/ECT@ECT
Subject: Risk Meeting notes

Here are the top issues which the top performers in risk identified in this
morning's meeting in no particular order:

1.  All physical curves out by 2:30.  All financial curves out by 3:15.
2.  Streamline nightly checkout process.
3.  No more deal tickets.
4. Systems person or persons on the floor.
5. Notification of any curve change in the system.
6. Specific cut off time for all deal tickets.
7. Cross regional training
8. Stock options
9.  Back-ups for all big books
10. Combat Pay
11. Only 2nd yr analysts.
12. Automatic notification when a deal has been changed.  (Canada,
Logistics,  or trader)

I don't think any of these requests is unreasonable.


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NO TOUCH DAY NOTIFICATION [200101286]

The ISO is anticipating high loads and temperatures across
the ISO Control Area.

The California ISO is declaring a "No Touch Day" for the period
from 08/28/2001 06:00 through 08/28/2001 22:00.

No Touch Day restrictions, as detailed in ISO Operating Procedure
E-509, will be in effect.

Market participants are cautioned to avoid actions, which may
unnecessarily jeopardize generator availability.

This message is from Market Operations at the California ISO.

Notice issued at: 08/27/2001 16:22

---------------------------------- DISCLAIMER -----------------------------------------
The system conditions described in this communication are dynamic and subject to change.
While the ISO has attempted to reflect the most current, accurate information available
in preparing this notice, system conditions may change suddenly with little or no notice.
---------------------------------------------------------------------------------------


-----Original Message-----
From: 	Hyatt, Kevin
Sent:	Friday, January 25, 2002 9:30 AM
To:	Gadd, Eric; Wadle, Susan
Subject:	Weekly update 1/25

Marketing
-- Desert Crossing Storage (near Kingman, AZ).  Their strategic advantage seems to be accessing cheaper Rockies gas via Kern River and putting it into storage for later delivery to California markets.  One partner, SRP, is banking on getting a firm backhaul on El Paso to serve their Phoenix requirements.  Unless someone significantly expands the California infrastructure and interstate delivery points, the only beneficiary of this project will be Sempra with its North Baja power plant and this is not enough to justify the storage project.

--  Pataya Storage is another project soon to be announced by partners SouthWest Gas and Aquila Energy.  They plan to develop 12 Bcf of salt dome storage (in 2 phases) in the same formation as Desert Crossing.  Their plan is to tie into El Paso and TW; we have been in contact and await their response to our suggestion of incorporating a Sun Devil pipeline option.

--  Our response to APS on the transport option if they reimburse TW for EIS costs is expected to go out 1/25.  We are drafting a similar offer to Panda Energy.

--  Panda Energy:  The current economic conditions have struck Panda-- they have initiated a restructuring and severed some of the headquarters staff including fuel supply representatives we were negotiating with for Sun Devil.  The project now reverts back to the department VP whom we have contacted to further our negotiations.

Engineering -  still waiting on the revised project cost estimate based on the reduced compressor and looping costs.  The goal is $100 million in reductions.

FERC and El Paso Full Requirements Contracts - The discussion of the Strawman settlement proposal submitted by SRP to FERC did not make it on FERC's January agenda.  At our meeting this week, APS did not put much faith in the Strawman making much forward progress.


I am still looking for the right Caledonia project model,  I have a couple of
finance models but I don't think those are what you want.  I will send
something today.  Thanks
Ben
3-7998


What is the substance of the financing statement filings being done in connection with the Master Netting Agreements? I assume it is to describe the granting of security interest clause in the Master Netting Agreement. Am I correct?

 -----Original Message-----
From: 	Heard, Marie
Sent:	Monday, November 05, 2001 1:35 PM
To:	Aronowitz, Alan; Athena Alexander (E-mail); Clark, Morris; Cook, Mary; David Mitchell (E-mail); Davis, Angela; Del vecchio, Peter; Douglas, Stephen H.; Evans, Mark (London Legal); Gray, Barbara N.; Hansen, Leslie; Heard, Marie; Hendry, Brent; Hodge, Jeffrey T.; Jones, Tana; Keohane, Peter; Koehler, Anne C.; Lech Kalembka (E-mail); Leite, Francisco Pinto; Marissa Morelle (E-mail); McCullough, Travis; Mellencamp, Lisa; Murphy, Harlan; Murray, Julia; Nemec, Gerald; Portz, David; Rick Antonoff (E-mail); Rohauer, Tanya; Sager, Elizabeth; Sayre, Frank; Shackleton, Sara; Simons, Paul; St. Clair, Carol; Van Hooser, Steve; Viverito, John; Williams, Jason R (Credit)
Subject:	Master Netting Agreements

In order for Cadwalader to be in a position to order lien searches, please e-mail Lech Kalembka (Lech.Kalembka@cwt.com) the initial draft of your Master Netting Agreement(s).  When your agreement is finalized, please e-mail Lech a copy of the final draft so that he can prepare the financing statement filings.

Thanks!

Marie


---------------------- Forwarded by Ami Chokshi/Corp/Enron on 04/12/2000
02:03 PM ---------------------------

troy_a_benoit@reliantenergy.com on 04/12/2000 01:30:55 PM
To: "Ami Chokshi" <Ami_Chokshi@enron.com>
cc:

Subject: COPANOS CHANGES

(See attached file: HPL-Apr.xls)
 - HPL-Apr.xls


Here is a copy of the original email sent to you:

______________________________________________________________________________
___
I am contacting you on the recommendation of Pug Winokur, who is on our Board
of Directors.  Enron has formed an Advisory Council which consists of
academicians, public policy thinkers and media, together with Enron
executives.  I would like to invite you to address the group on E-Commerce
issues at our next meeting (Friday, September 8th in Houston).

Attached is a list of our Advisory Council members.

I think you will find this group interesting and thought provoking.

Please contact me at your earliest convenience at 713-853-1586.
__________________________________________________________________________

DEBORAH:   Please fax me Mr. Pandit's bio.  My fax number is 713-646-8160.

Also, would you email his presentation when you have it available.  Most
presenters use Power Point - but if you have different needs, please give me
a call at 713-853-1808.  The person to email the presentation to is Russell
Mitchell.  His email address is     russell.mitchell@enron.com

Thanks for your assistance.


Meeting with Ed Roper and John Simmons to review the potential inventory sale
of engine and compressor parts.
Lisa Honey will attend in my absences.


-----Original Message-----
From: David Gensch [mailto:dag@cact.com]
Sent: Tuesday, April 23, 2002 4:23 PM
To: undisclosed-recipients
Subject: ng0424

CACT NG sheets for Wednesday


Start Date: 1/22/02; HourAhead hour: 6;  HourAhead schedule download failed. Manual intervention required.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002012206.txt
Error: dbCaps97Data: Cannot perform this operation on a closed database
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
Error: dbCaps97Data: Cannot perform this operation on a closed database
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
Error: dbCaps97Data: Cannot perform this operation on a closed database
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
Error: dbCaps97Data: Cannot perform this operation on a closed database
Error: dbCaps97Data: Cannot perform this operation on a closed database
Error: dbCaps97Data: Cannot perform this operation on a closed database
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
Error: dbCaps97Data: Cannot perform this operation on a closed database


[IMAGE] 	[IMAGE]
	 [IMAGE]

To be removed from future mailings  CLICK HERE


We will agree to "shall" for netting section.

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


This was an excellent note.
---------------------- Forwarded by Janet R Dietrich/HOU/EES on 10/03/2001 08:30 AM ---------------------------
			Ken Lay- Chairman of the Board
From:	Ken Lay- Chairman of the Board@ENRON on 10/02/2001 04:24 PM
Sent by:	Enron Announcements@ENRON
To:	All Enron Worldwide
cc:
Subject:	Lay It On the Line Survey Results

Recently, I asked you to "Lay It On the Line" and tell me what you believe are the most critical issues that we need to address.  Many of you responded, and I want to share the survey results with you.  Additionally, I want to share with you the things we are currently doing or plan to do to move Enron forward.

First, let's take a look at the survey results.

In just three days, more than 4,000 employees completed the survey.  I sincerely appreciate your participation.

I.  We asked you to identify the top five issues facing Enron today.  The responses were:

1.	Stock price
2.	The PRC
3.	Employee/internal morale
4.	External reputation and image
5.	"Walking the talk" of integrity and respect
_________________________________________________________________________________________

II.  We asked you general questions about working at Enron, comparing 2001 to 2000.

	% of employees responding
	strongly agree/agree:
I am committed to staying at Enron.	64.1%
Enron is a company I would invest my money in.	60.1%
I am treated with respect.	60.0%
I would recommend Enron as a place to work for friends and family.	59.1%
I have talents and skills that Enron is not fully utilizing.	54.7%
Enron truly encourages people to take risks.	47.5%
My immediate supervisor has a clear view of where Enron is going and how to get there.	46.6%
Executive management has a clear view of where Enron is going and how to get there.	41.6%

_________________________________________________________________________________________

III.  We asked you to what extent you would associate the following attributes to Enron, comparing 2001 to 2000.

	More	Same	Less	N/A
Concerned for communities	34.5%	44.9%	10.3%	10.3%
Innovative	30.8%	35.7%	24.6%	8.9%
Entrepreneurial	28.5%	37.8%	23.7%	10.0%
Ethical	17.0%	45.1%	28.1%	9.8%
Trustworthy	14.9%	39.0%	36.9%	9.2%
Arrogant	39.1%	32.4%	13.3%	15.2%
Self-serving	41.9%	38.6%	7.5%	12.0%

_________________________________________________________________________________________
IV.  Finally, we asked you to identify the top three things you like about working at Enron.

1.	People (the high quality of people at Enron was the most widely-cited aspect):
---	talented
---	creative
---     learn from one another
2.	Culture and reputation:
---	innovative spirit
---   willingness to be aggressive and take risks
---   ability to embrace change
---   involvement in community
3.	Work environment:
---	pay and benefits
---   true meritocracy
---   unlimited opportunities

_________________________________________________________________________________________

The results of our survey confirmed for the Management Committee and me the great things you feel about Enron and also what you see as the issues we must address to move Enron forward.  The following are some of the things we're doing now or going to do in the next few days and weeks to address the top five issues you identified.  Keep in mind this is only the beginning of an ongoing effort to address your concerns and engage your feedback.

Now, here's what we're going to do based on your feedback.

STOCK PRICE

We are all concerned about our stock price, which has declined significantly this year.  The primary reasons for the sharp decline from our highs earlier this year include:
---	A decline in the overall market and economy;
---   Certain Enron-specific issues, such as California, India and recent management turnover;
---   A "meltdown" in the broadband sector, which may have been as much as $30-$40 of our stock price at the high;
---   Lower energy commodity prices and volatility relative to last winter's high; and
---   Concerns over the pace of energy deregulation.

These concerns mask the strong underlying recurring earnings growth in our transportation and distribution, wholesale and retail businesses.  Very few companies have demonstrated the earnings growth, and future earnings growth, as has Enron.  We fundamentally believe that if we focus on continued earnings growth and reestablishing the confidence of our financial investors, our stock price will reflect the value these businesses deserve.

---	Over the past month, we have met with all of our major institutional shareholders and all of our analysts, reviewing the strong prospects in each of our businesses.
---	We have also committed to provide more segmented information about our business units and how we operate so that analysts have a better understanding of our businesses and how we make money.
We also want to make sure that employees know what we are doing going forward:
---	Mark Koenig, executive vice president of Investor Relations, will host Brown Bag sessions with groups of employees to discuss stock price issues and answer questions.  He will also continue to host eSpeak sessions to answer employee questions.
--- Greg Whalley, Mark Frevert and I will also hold discussions with various groups of employees, which will be taped and made available to employees worldwide.  Watch for these events.

THE PRC

The relative discussion of talent is absolutely critical to maintain our business and our meritocracy.  Understanding which employees have demonstrated the greatest contribution and behaviors, which individuals should be given greater responsibility and leadership, and identifying our top and bottom talent are essential to achieve our business objectives.  Nevertheless, we recognize that certain aspects of the PRC may have caused some of you concern, and we believe we can improve, refine, streamline and better clarify the process objectives for everyone.

Therefore, we will make the following changes to the PRC process prior to year-end:
---	Effective immediately, relative performance discussions will occur annually at year-end.  However, business units will have the flexibility to determine if they need to have those discussions more frequently.
---    The current preferred distribution will no longer be required across Enron.  Business units will be asked to identify only their top 10% and bottom 10% performers for review by Enron's Office of the Chairman annually at year-end.
---   We will continue to use the PEP 360 degree feedback system as input into performance feedback once a year for all employees.  We will also reinforce to all supervisory employees the absolute necessity of continual communication and feedback to their direct reports throughout the year.
---   Finally, we have formed an employee task force that will give us feedback on future changes.

In the November issue of Enron Business, we will feature the first in a series of articles discussing our performance evaluation process.  In addition, there will be other communication and training that will occur prior to year-end.

EMPLOYEE MORALE

We believe the stock price, our external reputation and the performance review process have all affected morale.  Additionally, some employees have indicated they do not feel that they have a place to go to voice their ideas and concerns.  Effective immediately, we will provide an additional resource for employees who do not currently feel comfortable going to either their supervisor or their Human Resources (HR) rep.
---	We are establishing a new business function we are calling Employee Relations (ER) that will report directly to the Office of the Chairman.  Cindy Olson will head this function.  More details of how this group and HR will operate will be communicated in the next few days.
Over the long term, we want our managers to address employee issues and concerns and therefore are providing the following leadership training for those with supervisory roles.
---	We will encourage vice presidents and above, as well as other current and emerging leaders, to complete Executive Impact & Influence training.  These sessions are designed to improve leadership skills such as coaching and effective communication that have a direct impact on performance and managing people.
---	Additionally, we will encourage every employee with supervisory responsibilities to complete online communications training via Communicate!, which will be rolled out immediately.  Communicate! is an interactive training course that uses Enron scenarios and a combination of video, voice mails, e-mails and meetings notes, to analyze user performance based on a participant's responses and actions.

EXTERNAL REPUTATION

We all recognize that our external reputation has suffered this year.  The single most important factor that influences our reputation is our actions - how we act and how we communicate those actions as a company and as individual employees.  We recognize that as Enron's ambassador's in the marketplace, the more you know about our strategy, performance and challenges, the more you can help disseminate accurate information about our company.  To ensure you are better informed:
---	We will do a better job providing you with timely information about issues affecting Enron.  In addition to our existing communication efforts, like e-mail messages and internal publications eBiz and Enron Business, we will post a Q&A on current issues on the Enron intranet at home.enron.com <http://home.enron.com>.  This will give us a consistent message across the organization and will equip you with information when talking to your customers.
--- As we said before, Greg, Mark and I, as well as members of our Management Committee, will meet with groups of employees across Enron to hear your thoughts and share with you our business direction and challenges.  Look for these to start in mid-October.

INTEGRITY & RESPECT

I believe, as I said previously, we need to reinforce our core values, particularly integrity and respect.  From what you have told us in this survey, you agree.
---	Enron's values will have more importance in each employee's evaluation and feedback.  We ask that all employees, regardless of level, hold themselves accountable for the way they interact with people on a daily basis.  We are all responsible for how we treat our coworkers and customers.
---	We will also conduct employee focus groups on a frequent basis to gather additional, specific feedback on employee issues like ethics, integrity and individual concerns.  If you would like to participate in these focus groups, please send an e-mail to Cindy Olson.
---   Periodically, I will host a special feature column in Enron Business to keep you informed of the action steps we are taking and their results.

Finally, I give you my commitment that we will do a better job giving you more information regarding Enron's strategy and challenges, and listening to your concerns and ideas.  But we would ask for your commitment, too.  We need your dedication to Enron and its values, as it is only through your commitment that we will achieve long-term success.  We will conduct another employee survey early next year.  Please continue to send me your feedback and let's continue to work together and keep Enron one of the best places to work in the world.


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

RSM Production Corporation on behalf of: The County of Zapata, State of Texas and the Zapata County Independent School District v. El-Paso Corporation, et al. (including Enron Corp., Enron Gas Marketing, Inc. and Intratex Gas Company); No. 4519, In the 49th Judicial District Court, Zapata County, Texas.  CITATION and FIRST SUPPLEMENTAL PETITION to NRAI for Intratex Gas Company. by deputy sheriff on 10/11/01.

PLEASE ADVISE IF YOU DO NOT RECEIVE WITHIN 1 BUSINESS DAY.

Thank you !!

Becky A. Stephens
Support Services Coordinator
Enron Litigation Unit, EB4809
713/853-5025
713/853-6576 (fax)
Becky.Stephens@enron.com


Attached is you ercot digital certificate.

The portal is located at the following web site  https://mockmarket.ercot.com

I have a copy of your certificate if you require another copy or changes
required.

I have selected all areas except for market switching.


Attached are my comments to the TBI proposal.  Please review and let me know
if you have any comments.

I also wanted to clarify a point on the Tom Brown form of gathering
agreement.  The revised form is an interruptible agreement with no acreage
dedication.  Since Tom Brown removed all the acreage dedication language, it
is my understanding that they were not willing to give us an acreage
dedication.  To the extent we modeled our economics on any Tom Brown
production, I wanted to make sure everyone understands that these volumes are
not committed to the system we are purchasing and can be taken by Tom Brown
to someone else at their discretion.


Attached is an ISDA worksheet for the above referenced.  Please call me with
your questions.

Thanks,

JS


The planning and execution of this migration and testing effort has been flawless.  It is a testament to the tremendous talent and professionalism of Enron's IT department that all of you have performed at such a high level under such difficult circumstances.

--jay

-----Original Message-----
From: Stock, Steve
Sent: Monday, January 14, 2002 8:31 AM
To: DL-IT Front Office; Ballmer, Charles; Barber, Michael; Chitradurga, Sundar; Harmon, Kenneth M.; Henry, Jane Hilburn; Luu, Duong; Nat, Steve; Nommensen, Dave; Ogden, Arlene; Poston, David; Powell, John D.; Ramesh, Ganapathy; Rao, Ramesh; Ray, Edward; Schomer, Chris; Tang, Mable; Warner, John; Wei, Zhiyong
Cc: McAuliffe, Bob; Webb, Jay; Perlman, Beth; Rub, Jenny; Johnson, Jeff; Greig, Iain; Smith, Regan M.; Kitchen, Louise; Pickering, Mark; Piper, Greg; Beck, Sally
Subject: Estate Migration
Importance: High

The Estate version of the systems were commissioned successfuly onto Estate hardware this weekend with the users completing their testing on sunday, and it looks as though we are in good shape for doing the same for NetCo this week.

Just a few weeks ago there was a lot of doubts that it could be done, but thanks to a great display of team work, and just plain hard work, with many late nights (and a few sleep overs....), we met our first major milestone!!!!!

Thanks for the outstanding efforts over the last two weeks, that made this weekend possible.

best regards

Steve


Jeff, for the meeting on Thurs a.m.  9:30 ( Houston Time ), we should keep
our group to the list I have identified. I would like to start with a simple
plan and work out from there. We are working towards an action plan for
handling PUC issues ( from a commercial perspective) in california and other
states, prior to anybody addressing the PUC we need agreement as to what it
is we want to put forward.

We will call you on thurs a.m.  Can you please verify your contact phone
number.

Thanks in advance.

Jessica, pls reserve a room.

BT


Anna,
When you have a chance, I would like to pay you for the golf tournament and grab a receipt from you while I am at it.  My impression is that the deadline is approaching and that this is something we need to get done today.
Please let me know when you might be available or just grab me when you have a chance.

Thanks,

Bill


Enerfax Daily
NORTH AMERICA'S FREE POWER AND GAS INFORMATION SOURCE
   Tuesday, February 5 2002 No. 927
Visit: http://www.enerfax.com  to view our web version or for Oil Prices & News http://www.enerfaxgold.com

PHYSICAL NATURAL GAS PRICES
Gulf/Eastern Region
| Agua Dulce              | 2.04  |
| ANR SE                  | 2.12  |
| Carthage TG             | 2.11  |
| Chicago Citygate        | 2.17  |
| Columbia Gulf Onshore   | 2.17  |
| Dominion South Point    | 2.37  |
| Henry Hub               | 2.18  |
| Houston Ship Channel    | 2.16  |
| Katy Hub                | 2.10  |
| NGPL LA Pool            | 2.12  |
| NGPL - Midcontinent     | 2.05  |
| NGPL STX                | 2.07  |
| NGPL TX/OK              | 2.09  |
| NNG Demarc.             | 2.12  |
| Niagara                 | 2.41  |
| Sonat Tier 1            | 2.13  |
| TCO IPP Pool            | 2.28  |
| Tetco ELa               | 2.13  |
| Tetco M-3               | 2.64  |
| Tetco STX               | 2.07  |
| TGP Zone 0              | 2.06  |
| TGP Zone 1 (500 Leg)    | 2.13  |
| TGT Zone SL             | 2.16  |
| New York Citygate       | 2.93  |
| Transco Station 65      | 2.21  |
| Transco Zone 6 (NY)     | 2.92  |
| Trunk ELa               | 2.11  |
| Western Region
| California Border       | 2.17  |
| El Paso Keystone        | 2.04  |
| El Paso San Juan-Blanco | 2.05  |
| Waha Hub                | 2.06  |
| Canadian/Rockies Region
| Nova/Aeco (C$/gig)      | 2.84  |
| Dawn Hub/Union          | 2.28  |
| Northwest Stanfield     | 2.00  |
| Wyoming Pool            | 1.90  |
| Opal                    | 1.90  |
| PGT-Malin               | 2.09  |
| Sumas                   | 1.97  |
Flow Date 2/5
-------------------------------------------------------------
NATURAL GAS FUTURES
Henry Hub
12 Month Strip  2.5016  -0.0140
18 Month Strip  2.6023  -0.0098
| Month | High  |  Low  | Close | Change |
| MAR   | 2.150 | 2.080 | 2.117 | -0.021 |
| APR   | 2.215 | 2.150 | 2.184 | -0.014 |
| MAY   | 2.270 | 2.220 | 2.252 | -0.014 |
| JUN   | 2.330 | 2.296 | 2.317 | -0.014 |
| JUL   | 2.400 | 2.365 | 2.377 | -0.014 |
| AUG   | 2.450 | 2.420 | 2.432 | -0.014 |
| SEP   | 2.450 | 2.420 | 2.432 | -0.014 |
| OCT   | 2.475 | 2.440 | 2.459 | -0.011 |
| NOV   | 2.700 | 2.670 | 2.679 | -0.016 |
| DEC   | 2.900 | 2.870 | 2.879 | -0.015 |
| JAN   | 2.980 | 2.960 | 2.969 | -0.012 |
| FEB   | 2.930 | 2.910 | 2.922 | -0.009 |
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Natural Gas Futures End Choppy Day Down

Natural gas for March delivery on the NYMEX ended down $0.021 yesterday at $2.117 per MMBtu. The April contract slipped $0.014 to $2.184 per MMBtu. The market opened lower, but bounced off $2.08. However, it could not get higher than $2.15, and failed to trigger anticipated buy stops above $2.17. Every rally is hit with a wave of selling. Look for the market to open lower again this morning. The AGA reports last weeks storage information tomorrow afternoon. Expect a withdrawal of about 120 Bcf  130 Bcf. Last week, 111 Bcf was withdrawn leaving 2.294 Tcf in storage. The nations storage facilities are still 70% full compared to 38% full a year ago. Natural gas for next day delivery across the US and Canada was generally flat to plus or minus $0.05 yesterday. Physical prices jumped higher in the Northeast. Utilities reportedly nominated base-loads for every day for February, intending to use the spot market only as weather dictates. Cash prices held as much as $0.08  $0.09! above the NYMEX. Natural gas for next day delivery at the Henry hub ended flat at $2.18 per MMBtu.
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Today's Power Bulletins
* Otter Tail Says 4th Quarter Operating Income Up 21%
* AEP Hires Schroder Salomon Smith Barney and ABN Amro for UK and Australia Sales
* PricewaterhouseCoopers Says Enron Europe Has Billions of Dollars of Liabilities
* JP Morgan Chase Advises Investors to Ooverweight Calpine Bonds
* AFL-CIO Asks SEC to Bar Enron Directors from Boards
* Chairman of Russian Giant Unified Energy Systems Seeks Linking Grid with Europe
* Sempra Energy Trading Completes Acquisition of Enron Metals Limited for
$145 Million in Cash
* Bush Administration Proposes 19% Increase in Spending for Salmon Recovery in the Northwest
* Alliant Energy Resources Completes Exchange Offer for $300 Million of 7% Senior Notes Due 2011
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WSJ Says Enron Officials Knew About Chewco Partnership

Top Enron executives, including Chairman Lay and former CEO Jeffrey Skilling, knew about the controversial partnerships, according to the Wall Street Journal, citing minutes from a November 5, 1997 meeting. Former CFO Andrew Fastow and several board members including external director Herbert Winokur Jr were also at the meeting that discussed Enron's partnership Chewco, named for the Star Wars character Chewbacca. Chewco, which was supposed to be completely independent, but was run and partly owned by Enron executive Michael Kopper, who also attended the meeting. Federal investigators and private litigants are trying to find out who knew what about Chewco and when. An attorney for Winokur says the executive committee was told that Chewco was a special-purpose vehicle not affiliated with the company. The board never waived the conflict-of-interest policy for Kopper nor was the board told that Kopper was involved with Chewco.
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Natural Gas NYMEX Volume
02MAR   28,386
02APR    6,782
02MAY    2,853
02JUN    1,156
02JLY    1,787
02AUG    1,270
02SEP    1,360
02OCT    2,160
02NOV    1,238
02DEC    1,213
03JAN    1,710
03FEB    1,558
03MAR      130
03APR       57
03MAY       36
03JUN      179
03JLY       54
03AUG      827
03SEP      203
03OCT       62
03NOV      125
03DEC       84
04JAN       19
04FEB       52
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Lay Breaks Date with Congress After Report Issued

Enron attempted to systematically manipulate its financial results and deceive shareholders as top executives made personal gains of millions of dollars, according to William Powers, dean of the University of Texas Law School in testimony to be delivered before Congress yesterday. There was also failures in the performance of Enron's outside advisors. And there was a fundamental default of leadership and management, starting with former CEO Ken Lay and reaching to the board and senior managers. As Congress begins a week of hearings, the House Financial Services capital markets subcommittee also heard from SEC Chairman Harvey Pitt. Powers joined the Enron board to investigate events leading up to the company filing for bankruptcy on December 2nd. He has issued a 218-page report that found Enron fattened its profits by almost $1 billion through a web of financial partnerships used to hide losses, while top managers made millions of dollars they should never have received. ! He laid some of the blame for on Lay and of Jeffrey Skilling. Powers said former ex-Enron CFO Andrew Fastow made at least $30 million, while former senior executive Michael Kopper made at least $10 million through their involvement in off-the-books partnerships. Enrons board of directors failed in its duty to provide leadership and oversight and in the end, the tragedy could and should have been avoided, Powers said. After the report was released, Lay canceled plans to testify before a Senate committee and before the capital markets subcommittee.
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PHYSICAL POWER PRICES
|            | High  |  Low  | Average |
|            | $/MWh | $/MWh |  $/MWh  |
| Cinergy    | 24.00 | 20.15 |  21.90  |
| ECAR       | 23.00 | 19.00 |  20.40  |
| ERCOT      | 21.00 | 18.50 |  19.10  |
| Entergy    | 21.05 | 20.00 |  20.50  |
| TVA        | 24.00 | 21.00 |  22.55  |
| ComEd      | 23.50 | 21.50 |  22.60  |
| Nepool     | 30.80 | 29.80 |  30.15  |
| PJM West   | 22.75 | 21.75 |  22.00  |
| Main       | 23.25 | 20.00 |  22.15  |
| MAPP       | 23.75 | 20.25 |  22.30  |
| Palo Verde | 24.00 | 23.00 |  23.75  |
| Mid C      | 21.00 | 19.00 |  19.60  |
| COB        | 24.00 | 22.00 |  22.60  |
| 4 Corners  | 24.25 | 23.25 |  23.90  |
| Mead       | 25.75 | 24.00 |  24.95  |
| NP 15      | 25.25 | 23.50 |  24.25  |
| SP 15      | 25.25 | 23.50 |  24.45  |
-------------------------------------------------------------

AEP May Sell Some Foreign Assets

American Electric Power may sell Seeboard, which serves 2 million power and natural gas users in the UK, and CitiPower, an Australian retail and distribution unit, to lower debt as it switches its focus to wholesale markets and away from household power supply. Like Reliant and Mirant, AEP is selling foreign assets to protect its credit ratings. Enrons bankruptcy has caused many energy companies to slash capital spending and sell assets to lower debt. AEP has $2.6 billion in debt maturing in the next 2 years. Seeboard is valued at about $2.1 billion and CitiPower at as much as $760 million. AEP, which acquired Seeboard in a $10 billion buyout of C&SW, said will consider all potential options for Seeboard. AEPs 4th quarter earnings fell 41% due to mild weather. It is selling common stock and convertible preferred shares to raise cash and shore up its balance sheet. Last year, AEP sold Yorkshire Power in the UK and purchased 2 power stations. AEP has also been expanding it! s energy trading business after Enrons collapse. It bought Enron's Scandinavian businesses and hired 22 coal traders from Enron. Seeboard is likely to fetch a good price since it is the only supply business for sale in the UK. E.ON, Electricite de France and Scottish & Southern Energy have been named as likely bidders for Seeboard. CitiPowers sale will probably happen in the 3rd quarter, according to AEP. Possible buyers could be Australian Gas Light, United Energy and Origin Energy. AEP bought the retail and distribution company for $1.1 billion in 1998.
-------------------------------------------------------------

OPEN SEASON
SG Resources Mississippi, L.L.C., a wholly owned subsidiary of SGR Holdings, L.L.C., is conducting an open season for firm storage services at its new high-deliverability, salt cavern, natural gas storage facility, known as the Southern Pines Energy Center. The open season will begin at 9:00 a.m. CDT on February 4, 2002, and will continue until 5:00 p.m. CDT on March 4, 2002. The project is located at the border of Mississippi and Alabama with access to the major pipelines serving the Mid-Atlantic and the Southeastern United States. The facility is ideally located to serve as a transportation and storage hub for shippers on any one of nine major pipelines that will be interconnected directly or indirectly to the project. Information on the facility and the Open Season is available on our web site at          http://www.sgr-holdings.com
or contact us at 713-914-8188.
-------------------------------------------------------------

Todays Gas Bulletins
* Ken Lay Quits Enron Board as Congress Investigates
* Maritimes Seeks FERC Approval of $250 Million Pipeline Expansion Into Northeast
* World Natural Gas Producers Discuss Joint Ventures at Algeria Meeting
* Three Hearings Scheduled for Today; One Involves Enron Board Member William Powers Who Will Testify Before House Energy and Commerce Committee's Oversight Subcommittee
* Dynegy Says It Did Not Cause Enrons Bankruptcy; Says Enron Has Only Itself to Blame
* Internal Enron Report Could Aid Prosecutors
* Justice Department Says Enron Special Counsel Not Needed
* Raymond James and Associates Boosts Natural Gas Price Estimate for 2nd Half of Year in Anticipation of Robust Demand Recovery
* Enbridge Buys Texas Natural Gas Gathering and Processing Assets from Sulfur River Gathering for $178 Million
* Williams Communications Posts Loss; Banks Warn of Default
* Ex-Enron CEO Skilling Still Plans to Testify
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Williams May Sell Midwest Oil Products Pipeline

Williams may sell its 8,000-mile Midwest oil products pipeline and storage depots for between $500 million and $1.5 billion, to help defray costs from possible exposure to $2.4 billion from Williams Communications. Last week, Williams postponed the release of 4th quarter results to review costs associated with Williams Communications Group, which was spun off in April. Williams said that those costs will be included in the 4th quarter earnings report. Williams Energy Partners which is 60% owned by Williams has been mentioned as a likely buyer for the pipeline. Williams has sold securities and cut capital spending to shore up its balance sheet amid heavier scrutiny by credit rating agencies following Enrons bankruptcy. Williams 7.5% coupon bonds maturing in 2031 were down about $44 to $879 per $1,000 face value from $923 last week, with the spread above US Treasuries climbing to 330 basis points from 285. None of the rating agencies has downgraded Williams debt yet, but S! ?has says it may lower Williams ratings because of concern about the company's finances. S?rates Williams BBB+, Moody's rates it Baa2 and Fitch rates it as BBB, all investment grade. Williams is aiming complete the Midwest pipeline sale by the end of the 2nd quarter. Net income for Williams Energy Partners more climbed to $21.7 million from $3 million a year ago. It also  raised quarterly payment to unit holders by 12% to $0.59. The possible purchase of the Midwest pipeline could be financed through a combination of debt and equity, Williams Energy Partners said. The partnership has $140 million in private debt. Williams said its 4th quarter loss had widened and its banks have warned that the it may be in default of their credit agreements. Williams stock dropped 13.9% yesterday, down 2.64 to 16.36.
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POWER FUTURES
| Month |   COB   | Change |   PV    | Change |
| MAR   |  19.25  | +0.00  |  21.35  | +0.10  |
| APR   |  19.75  | +0.00  |  22.25  | -0.25  |
| MAY   |  19.50  | +0.00  |  23.75  | -0.75  |
| JUN   |  20.00  | +0.00  |  26.75  | -0.75  |
| JUL   |  26.50  | +0.00  |  37.25  | -0.25  |
| AUG   |  38.00  | +0.00  |  42.50  | +0.00  |
| SEP   |  26.00  | +0.00  |  33.00  | +0.50  |
| OCT   |  24.00  | +0.00  |  28.00  | -1.00  |
| NOV   |  24.50  | +0.00  |  27.00  | -0.50  |
| DEC   |  26.00  | +0.00  |  27.50  | -1.00  |
| JAN   |  30.00  | +0.00  |  28.25  | -0.25  |
| FEB   |  27.50  | +0.00  |  28.00  | +0.25  |
| Month | Entergy | Change | Cinergy | Change |
| MAR   |  19.80  | -0.20  |  20.90  | -0.40  |
| APR   |  19.80  | -0.20  |  21.25  | -0.25  |
| MAY   |  22.25  | -0.25  |  24.50  | +0.00  |
| JUN   |  27.10  | +0.00  |  29.75  | -0.05  |
| JUL   |  34.60  | -0.05  |  38.00  | -0.40  |
| AUG   |  35.25  | +0.60  |  38.00  | -0.40  |
| SEP   |  31.65  | +0.00  |  22.85  | -0.25  |
| OCT   |  22.00  | +0.05  |  22.90  | -0.10  |
| NOV   |  22.00  | +0.05  |  22.90  | -0.10  |
| DEC   |  22.00  | +0.05  |  22.90  | -0.10  |
| JAN   |  24.15  | -0.10  |  25.50  | -0.50  |
| FEB   |  24.15  | -0.10  |  25.50  | -0.50  |
-------------------------------------------------------------
Power Futures
| Month |  PJM  | Change |
| MAR   | 24.70 | -0.40  |
| APR   | 25.20 | +0.10  |
| MAY   | 28.25 | -0.30  |
| JUN   | 34.75 | -0.50  |
| JUL   | 46.10 | -0.25  |
| AUG   | 27.05 | +0.00  |
| SEP   | 27.05 | -0.05  |
| OCT   | 26.05 | -0.05  |
| NOV   | 26.05 | -0.05  |
| DEC   | 26.05 | -0.05  |
| JAN   | 30.25 | +0.00  |
| FEB   | 30.25 | +0.00  |
-------------------------------------------------------------
Nymex Natural Gas Option Volatility
Supplied by "The Daily Hedger"
Futures	               Implied
Month	Settlement	Days Left  Volatility
Mar	 $2.117	       21	    67.7%
Apr	 $2.184	       49	    57.7%
May	 $2.252	       80	    51.4%
Jun	 $2.317	      113	    47.3%
Jul	 $2.377	      141	    53.4%
Aug	 $2.432	      172	    48.8%
Sep	 $2.432	      204	    49.0%
Oct	 $2.459	      233	    54.9%
Nov	 $2.679	      266	    46.9%
Dec	 $2.879	      294	    57.6%
-------------------------------------------------------------

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--------------------------------------------------------------------------------------------------------------------------
Lay Makes Himself Scarce

A congressional committee trying to serve a subpoena on former Enron Chairman Ken Lay can not seem to locate him. His personal attorney does not know where he is and would not accept the subpoena. The House of Representatives Financial Services Committee finds the whole situation quiet puzzling. Lay's attorney says he is ill and has no idea where Lay is. Lay resigned from Enrons board yesterday as two congressional committees vowed to force him to come before them to testify or take the 5th Amendment. He had been scheduled to appear before a House Financial Services subcommittee, but backed out over the weekend. It had hoped to compel him to appear today. Lay had also been scheduled to appear before a Senate committee, but canceled that date also.
-------------------------------------------------------------

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-------------------------------------------------------------
TRADERS DEBATE SHORT SIDE OF MARKET

Although Monday's price action on the New York Mercantile Exchange is perhaps best described as lackadaisical, some traders see inspiration to take the short side of the market where others are focusing on a longer term trend higher.  "When the March contract expired (January 29), it got as low as $1.97 and developed a modest countertrend higher. As long as the market was able to continue trading above the previous day's low, that advance worked well," noted Dean Hazelcorn, trader with Coquest, Dallas.  "Today looks like a sell signal. The high of the March contract did not exceed Friday's high and today's low was lower. That sets up a trade down to $1.97. I look for a slow deteriorating front end of the board," he noted.  "I'm back in a bearish mode, and I think we're headed below $2.00. I believe that there is a 99% probability the market will work lower, but it may take 3 months to do it," he cautioned.  Other traders are more optimistic.  "Longer ter! m I'm bullish," says John Beaver, President Private Futures Group, Oklahoma City.  "It's more difficult to be bullish on the front of the board, but looking at the charts it suggests that prices may be set to rise.  There's a gap on the weekly chart between $2.17 and $2.20 on the weekly chart (week ending January 18, and January 25). and if prices could fill that gap, it would be a positive sign that prices were set to move higher," he said.  A gap is a pattern on the price charts followed by market technicians. The idea is that the gap may act as a barrier to (in this case) further price advances. Once the gap is "filled", however, a potential limitation to price advances has been removed and prices would be empowered to move higher.  "I don't have any interest in being short the market at the $2.00 level. I don't want to be in a trade that may only make 10 or 15 cents and have to worry about it," he said.  "If you are a commercial trader are you going to get short at $1.85! ? What is your board of directors going to say?"
More observations and market forecasts in GasTrader Newsletter. Go to Subscribe to GasTrader.net to sign up for FREE five week trial.
-------------------------------------------------------------
FINANCIAL SUMMARY
The TSE 300 dropped 99.44 points to 7591.07
The CRB Index dipped 0.21 points to 189.30
The US Dollar decreased 0.88 points to 118.91
The Dow declined 220.10 points to 9687.09
The S?500 lost 27.76 points to 1094.44
The Nasdaq was down 55.71 points to 1855.53
March NYMEX Crude Oil fell 0.31 to 20.07
Canadian-US Exchange rose 0.0008 to 1.5915
-------------------------------------------------------------
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MARKET NOTICE
December 6, 2001

		In Re:	CERS Market payments - February 2001
California Energy Resource Scheduler (CERS) full payment received for
February, 2001 Market transactions

ISO Market Participants:
The ISO is pleased to announce that today it received from the California
Energy Resource Scheduler (CERS) full payment for amounts due to Market
Participants for transactions in February, 2001.
The ISO will disburse these funds on December 13, 2001.

Client Relations Communications.1002
CRCommunications@caiso.com <mailto:CRCommunications@caiso.com>