Shirley,

I shall go to this conference with Krishna.

Vince

 -----Original Message-----
From: 	Hill Huntington <hillh@stanford.edu>@ENRON [mailto:IMCEANOTES-Hill+20Huntington+20+3Chillh+40stanford+2Eedu+3E+40ENRON@ENRON.com]
Sent:	Friday, June 01, 2001 9:28 PM
To:	conference:;@ENRON; mansur@econ.Berkeley.EDU; bjscott@aep.com; cholmes@utilicorp.com; jwcade@tva.gov; ddurack@cinergy.com; bruce.hellebuyck@pacificorp.com;
Subject:	June 21-22

I am letting all participants know that I have revised the agenda for June
21-22 at Stanford.  Commissioner Michal Moore has agreed to make opening
remarks on Thursday morning.  I have also added presentations by Severin
Borenstein and by Shmuel Oren and Rajnish Kamat.  You can see the revised
agenda by visiting the June 21-22 entry under

http://www.stanford.edu/group/EMF/meetings

I am looking forward to a great session.

Regards,
Hill

*******************************************************************
Hillard G. Huntington
EMF - an international forum on
energy and environmental markets        Voice:  (650) 723-1050
408 Terman Center                       Fax:    (650) 725-5362
Stanford University                     Email:  hillh@stanford.edu
Stanford, CA  94305-4026

EMF Website: http://www.stanford.edu/group/EMF/


Rusty,

Let's meet at your convenience.  We need to identify some of the tripping
points and critical path items, especially since our goal (I assume) will be
to keep equipment, EPC contracts, land (?), etc off Enron's balance sheet
while things are developing.  Talking through the process should help.

Kay

Rusty Stevens
06/28/2000 10:51 AM
To: Kay Mann/Corp/Enron@Enron
cc: Fred Mitro/HOU/ECT@ECT, Ben Jacoby/HOU/ECT@ECT, Laura
Luce/Corp/Enron@Enron, Sheila Tweed/HOU/ECT@ECT

Subject: PERC Negotiations

Attached is a proposal that was shared with PERC last week.  We are now
awaiting PERC's response.  I am assuming that they will agree to the terms
since their alternative is to lose $ on the units at resale with no
opportunity for recapture.

I wanted to give you a "heads-up" since the timing will be is tight once I
get the green light to proceed with legal docs.  Please let me know what
documents we will need and how you suggest we expedite the process (LOI or
otherwise).

Calumet Project Participation (with ABB's):
ENA has verbally told them we will not participate in Calumet and the LLC
term to get to execution has expired.
Upon release by Laura/Ben - need to send them formal notice under the PDA
that we are withdrawing our notice of interest to participate in Calumet.

Going Forward:
We need to put the general terms in the proposal into a formal document.
Letter of Intent authorizing us to take control of the development/site sales
process at our expense - if they the deal unwinds we get reimbursed for our
direct costs spent to further perfect/sell their sites.
Assess PERC's legal position with ABB (was it fraud or gross negligence that
ABB failed to mention this problem they've known about for 10 years?).
Authorization/indemnification from PERC to negotiate with ABB to grant
contract concessions that will benefit Enron Canada as subsequent owner.
Enron Canada will likely be involved as lead negotiater with ABB - who in
legal will work with ENA/Enron Canada on this ?

Timing:
Enron Canada - To meet their 2001 schedule we need to have legal
authorization to engage ABB by early-July.
"Pitch Book" - In its current form includes Calumet/Torrence we need
authorization from PERC - Bruce is expecting to begin circulation by week of
July 10th.
EPC contractors -  They bid Calumet using ABB, and we want them to re-bid for
LM 6000's.  Need authorization from PERC (July 14th or sooner) with cost
coverage provisions, since the EPC contractors are likely to want to charge
us $50-$100k to re-bid the deal.


Thank you for getting on board and helping make the ENA electronic newsletter
a success.  We look  forward to receiving your "Business Highlights" and/or
"Nuggets & Notes" for the upcoming newsletter.  The newsletter will not go
out this week because of the Thanksgiving Holiday.  We do plan on sending one
the following week.  The deadline for the next newsletter is noon, Wednesday,
November 29.

Hope to hear from you soon.
Michelle Vitrella & Kathie Grabstald


Kyle is doing fine. Larry is doing pretty well.  We are actually buying Z6
vol for the first time in years.

As far as the rest of the stuff I am so far outside the loop on these things
my desk has a different zip code.

Later


per our discussion.  Want to schedule a tour and want to make sure that
Marchris is avail (let Rick and Montovano know)
----- Forwarded by Steven J Kean/NA/Enron on 11/13/2000 09:26 AM -----

	Naomi Olson <NOlso@annislaw.com>
	11/09/2000 04:58 PM

		 To: "'skean@enron.com'" <skean@enron.com>
		 cc: "'mmcvicke@enron.com'" <mmcvicke@enron.com>, Stephen Mitchell
<SMITC@annislaw.com>
		 Subject: Meeting on November 10, 2000

Mr. Mitchell will not be able to attend the meetings in Texas on November
10, 2000 that were scheduled earlier this week.  He is assisting the
National Republican Party in resolving the issues that have arisen in
several counties here in Florida and has been asked to attend to those
matters again on Friday, November 10, so that the election process can be
completed.  Mr. Mitchell's assistant (Naomi) will call you on Monday,
November 13th, to reschedule this meeting.  Thank you for your attention to
this matter and we apologize for any inconvenience this may cause.
Naomi Olson, assistant to Stephen J. Mitchell
This email is for the sole use of the intended recipient(s) and may contain
confidential and privileged information.  Any unauthorized review, use,
disclosure or distribution of this email or its contents is strictly
prohibited.  If you are not intended recipient, please contact the sender by
reply email and destroy the original and all copies of the original message.
Annis, Mitchell, Cockey, Edwards & Roehn, P.A.
201 North Franklin Street, Suite 2200
Tampa, Florida  33602
(813) 229-3321


Chris, deal 762435 for 35,000/d is coming to you at Tetco M3 Index + mid  (i.e. 3.50+.02 for July) and is compared with daily Intra-month curve for notional Index of NGW-Iroq/Wadd to determine daily P&L impact. Deal 646813 is for fuel, where TP1 is getting 500/MMBtu a day at zero price.

Other deals (677411, 624140 and 677408) you mentioned in your note are in New England book and I have asked Kay to look into and get back to you or Scott H.

I am on vacation tomorrow and will follow up with you on Friday. Thanks.

Kimat

 -----Original Message-----
From: 	Germany, Chris
Sent:	Wednesday, July 11, 2001 2:26 PM
To:	Singla, Kimat; Keiser, Kam
Subject:	Iroq Deals

I need to know how the following deals are booked in Brad's book and how they get transferred to the desk:

The 35,000 dth per day Tenn Z6 Boston Gas that goes through March 2007.  Deals 762435, 677411 & 624140.

AND the 2,000 dth per day of Iroq Z2 that goes through Oct 2006.   Deals 677408 & 646813.

Scott Hendrickson and I are talking to Scott Neal about restructuring these deals.


Stan would like to offer out the following Astros tickets (4 tickets per
game) for the month of April, for business or personal use, as follows:

Thursday, April 5, vs. MIL @ 7:05PM  (short notice!)
Friday, April 6, vs. PIT @ 7:05PM
Saturday, April 7, vs. PIT @ 1:35PM
Sunday, April 8, vs. PIT @ 1:35PM
Sunday, April 22, vs. STL @ 7:05PM
Monday, April 23, vs. ATL @ 7:05PM
Tuesday, April 24, vs. ATL @ 7:05PM
Wednesday, April 25, vs. ATL @ 7:05PM
Friday, April 27, vs. FLA @ 7:05PM
Saturday, April 28, vs. FLA @ 1:35PM
Sunday, April 29, vs. FLA @ 1:35PM

First come, first served.

Thanks,
Cindy
X36197


The report named: CE P/L <http://trv.corp.enron.com/linkFromExcel.asp?report_cd=4&report_name=CE+P/L&category_cd=3&category_name=CENTRAL&toc_hide=1&sTV1=3&TV1Exp=Y&current_efct_date=11/06/2001>, published as of 11/06/2001 is now available for viewing on the website.


Dear E-Savers Subscriber,

Here are this week's E-Savers for travel departing Saturday, January 5 and returning Sunday, January 6; Monday, January 7; or Tuesday, January 8.

PURCHASE E-SAVERS ONLINE AT http://www.usairways.com/esavers/offers2.htm AND RECEIVE A $10 DISCOUNT OFF THE FARES LISTED BELOW.  THE $10 DISCOUNT DOES NOT APPLY WHEN BOOKING BY TELEPHONE THROUGH US AIRWAYS' RESERVATIONS DEPARTMENT.

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********************************************************************
On January 6th, US Airways will resume nonstop service between Reagan Washington National Airport and Hartford, CT; Huntsville, AL; New Orleans, Providence, RI; Tampa and West Palm Beach. Service to additional destinations will begin on February 1st and March 1st. US Airways currently serves nine cities from Reagan Washington National airport:  Boston; Charleston, SC; Charlotte; Columbus, OH; Fort Lauderdale; New York LaGuardia; Orlando; Philadelphia; and Pittsburgh.
********************************************************************

FROM:                     TO:                       ROUNDTRIP FARE:
-------------------------------------------------------------------
Albany, NY                Charlotte, NC             $129

Atlanta, GA               Charlotte, NC             $99

Baltimore, MD             Boston, MA                $119
Baltimore, MD             Columbia, SC              $119 (*)(#10)
Baltimore, MD             Houston, TX               $159 (C)
Baltimore, MD             Newark, NJ                $109 (#13)
Baltimore, MD             Rochester, NY             $109 (*)(#1)

Bedford, MA               Trenton, NJ               $119 (#12)

Birmingham, AL            Philadelphia, PA          $119 (*)(#5)

Boston, MA                Atlanta, GA               $139 (C)
Boston, MA                Buffalo, NY               $109 (*)(#3)
Boston, MA                Greensboro, NC            $149 (*)(#3)
Boston, MA                Philadelphia, PA          $119
Boston, MA                Rochester, NY             $129 (#3)

Buffalo, NY               Atlanta, GA               $139 (C)
Buffalo, NY               Boston, MA                $109 (*)(#3)
Buffalo, NY               Philadelphia, PA          $109 (*)

Burlington, VT            Philadelphia, PA          $109

Charleston, SC            Washington National, DC   $119 (#10)

Charlotte, NC             Columbus, OH              $129
Charlotte, NC             Detroit, MI               $129
Charlotte, NC             Hartford, CT              $129 (*)
Charlotte, NC             Hilton Head Island, SC    $109 (#10)
Charlotte, NC             Houston, TX               $139
Charlotte, NC             Huntsville/Decatur, AL    $109 (#5)
Charlotte, NC             Jacksonville, FL          $129
Charlotte, NC             Knoxville, TN             $109 (#6)
Charlotte, NC             Louisville, KY            $109 (*)
Charlotte, NC             Memphis, TN               $109
Charlotte, NC             New York LaGuardia, NY    $159 (*)
Charlotte, NC             San Francisco, CA         $239

Chicago O'Hare, IL        Charlotte, NC             $139
Chicago O'Hare, IL        Pittsburgh, PA            $129 (*)

Cleveland, OH             Charlotte, NC             $129
Cleveland, OH             Jacksonville, FL          $149 (C)

Columbia, SC              Baltimore, MD             $119 (*)(#10)

Columbus, OH              New York LaGuardia, NY    $109 (#3)

Dallas/Ft. Worth, TX      Newark, NJ                $149 (C)

Dayton, OH                New York LaGuardia, NY    $129 (#3)
Dayton, OH                Philadelphia, PA          $129 (*)(#7)

Denver, CO                Baltimore, MD             $209 (C)

Detroit, MI               Philadelphia, PA          $129

Greensboro, NC            Boston, MA                $149 (*)(#3)
Greensboro, NC            Detroit, MI               $139 (C)

Hartford, CT              Buffalo, NY               $99 (#1)
Hartford, CT              Charlotte, NC             $129 (*)
Hartford, CT              Rochester, NY             $99 (#1)

Houston, TX               Philadelphia, PA          $159 (*)

Indianapolis, IN          Charlotte, NC             $119
Indianapolis, IN          New York LaGuardia, NY    $129 (#3)

Ithaca, NY                Pittsburgh, PA            $109 (#2)

Jacksonville, FL          Philadelphia, PA          $139 (*)
Jacksonville, FL          San Francisco, CA         $239 (C)

Kalamazoo, MI             Pittsburgh, PA            $99 (#11)

Kansas City, MO           Charlotte, NC             $139

Little Rock, AR           Pittsburgh, PA            $119 (#13)

Louisville, KY            Charlotte, NC             $109 (*)

Madison, WI               Pittsburgh, PA            $119 (#13)

Manchester, NH            New York LaGuardia, NY    $109 (*)(#1)

Milwaukee, WI             Charleston, SC            $129 (C)

Minneapolis/St. Paul, MN  Charlotte, NC             $149

Nashville, TN             Hartford, CT              $129 (C)

New York LaGuardia, NY    Charlotte, NC             $159 (*)
New York LaGuardia, NY    Chicago O'Hare, IL        $139 (C)
New York LaGuardia, NY    Manchester, NH            $109 (*)(#1)
New York LaGuardia, NY    Richmond, VA              $119 (*)

Newark, NJ                Charlotte, NC             $159
Newark, NJ                Savannah, GA              $139 (C)

Norfolk, VA               Boston, MA                $129 (C)

Philadelphia, PA          Birmingham, AL            $119 (*)(#5)
Philadelphia, PA          Buffalo, NY               $109 (*)
Philadelphia, PA          Columbia, SC              $119 (#4)
Philadelphia, PA          Dayton, OH                $129 (*)(#7)
Philadelphia, PA          Houston, TX               $159 (*)
Philadelphia, PA          Indianapolis, IN          $129
Philadelphia, PA          Jacksonville, FL          $139 (*)
Philadelphia, PA          Minneapolis/St. Paul, MN  $139
Philadelphia, PA          Montreal, PQ              $129
Philadelphia, PA          Norfolk, VA               $109
Philadelphia, PA          Raleigh/Durham, NC        $129 (*)

Pittsburgh, PA            Chicago O'Hare, IL        $129 (*)
Pittsburgh, PA            Grand Rapids, MI          $109 (#9)
Pittsburgh, PA            Hartford, CT              $119
Pittsburgh, PA            Houston, TX               $159
Pittsburgh, PA            New York LaGuardia, NY    $119
Pittsburgh, PA            Norfolk, VA               $109
Pittsburgh, PA            Portland, ME              $119
Pittsburgh, PA            Raleigh/Durham, NC        $119
Pittsburgh, PA            South Bend, IN            $109 (#8)
Pittsburgh, PA            St. Louis, MO             $129 (*)
Pittsburgh, PA            Tri-City, TN              $109 (#11)

Providence, RI            Greensboro, NC            $139 (C)

Raleigh/Durham, NC        Chicago O'Hare, IL        $139 (C)
Raleigh/Durham, NC        Philadelphia, PA          $129 (*)

Richmond, VA              Boston, MA                $109 (#3)
Richmond, VA              Charlotte, NC             $109
Richmond, VA              New York LaGuardia, NY    $119 (*)
Richmond, VA              Pittsburgh, PA            $109

Rochester, NY             Baltimore, MD             $109 (*)(#1)
Rochester, NY             New York LaGuardia, NY    $99
Rochester, NY             Philadelphia, PA          $109

St. Louis, MO             Pittsburgh, PA            $129 (*)

Syracuse, NY              Nashville, TN             $129 (C)
Syracuse, NY              New York LaGuardia, NY    $99 (#1)

Washington Dulles, DC     Charlotte, NC             $129

Washington National, DC   Myrtle Beach, SC          $119 (C)
Washington National, DC   Pittsburgh, PA            $119

Wilmington, NC            Newark, NJ                $139 (C)

Roundtrip purchase required.  Fares shown do not reflect the $10 online discount.

(*) Indicates available for travel originating in either city
(C) Indicates travel requires a connecting flight
(#) Indicates travel is wholly on US Airways Express, served by the following
    carriers:
    1. Allegheny
    2. Allegheny/Trans States
    3. Chautauqua
    4. Chautauqua/PSA
    5. Mesa
    6. Mesa/Piedmont/PSA
    7. Mesa/PSA
    8. Mesa/PSA/Trans States
    9. Mesa/Trans States
   10. Piedmont
   11. PSA
   12. Shuttle America
   13. Trans States

Fares shown are based on roundtrip Coach travel on US Airways/US Airways Express, during the period specified above.  Depending upon your travel needs, alternative routings may be available at the same fares, with part of the service on regional aircraft operated by US Airways Express carriers Allegheny, Air Midwest, CCAIR, Chautauqua, Colgan, Mesa, Piedmont, PSA, Shuttle America or Trans States.

For travel this weekend, call 1-888-FLY-E-SAVERS and request one of the E-Savers listed above. Or, to make your reservations online and save $10, please visit us at http://www.usairways.com/esavers/offers2.htm

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       LAST-MINUTE WEEKEND RATES FROM WESTIN HOTELS & RESORTS,
   SHERATON HOTELS & RESORTS, FOUR POINTS BY SHERATON, ST. REGIS,
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City            Hotel                                         Rate
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Boston          The Westin Waltham                            $90.00

New York LaGuardia, NY
New York        The Essex House                              $199.00

Philadelphia, PA
Philadelphia    Sheraton Society Hill                         $89.00

San Francisco, CA
San Francisco   The Westin St. Francis                       $130.00

Washington National, DC
Washington      Sheraton Premiere at Tyson's Corner           $69.00

For complete terms and conditions on hotel rates listed above, visit http://promo.starwood.com/csus

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Fares are valid for travel commencing Saturday and all travel must be completed by the following Tuesday.  Seats are limited and are not available on all flights/days.  Fares cannot be combined with other fares, discounts, promotions or coupons.  Fares will not be honored retroactively or in conjunction with the exchange of any partially used ticket.  Lower fares may be available in these markets.  E-Savers are not valid for upgrades.  Other conditions apply.

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Copyright US Airways 2001.  All rights reserved.


---------------------- Forwarded by Curtis Smith/HOU/ECT on 06/16/2000 04:57
PM ---------------------------
From: Curtis Smith on 06/16/2000 04:54 PM
To: Curtis Smith, Jeremy Wong/HOU/ECT@ECT
cc:
Subject: TAGG IQ reports menu.

If you are having trouble with TAGG IQ reports do the following.

1. Click Start/Settings/Control Panel
  Double Click the ODBC icon.

2. Under the User DSN tab if there is an entry for TAGGReportt, select it and
then click the Remove button.

3. Click Add.  Double Click Oracle73.
 In the three boxes enter the three following values:

  TAGGReport
  Test
  tns:ermt_ded

 Click the OK.

4. Click the OK button again on the ODBC window.

That's it.  Rerun the report.


I guess you wouldn't want to use any of the joint venture entities to issue
the guarantee because of the complexities of their ownership structures.  You
also wouldn't want to go outside of ETS because of marketing affiliate
issues.  By process of elimination, I guess I'm OK with NN issuing the
guarantee.  In my view, if Mavrix' commercial strategies are unsuccessful and
Northern has to perform on the guarantee, good luck recovering any of those
dollars in Northern's next rate case.  Thanks.  DF

Susan Scott
01/30/2001 02:27 PM
To: Drew Fossum@ENRON, Mary Kay Miller/ET&S/Enron@ENRON, Steven
Harris/ET&S/Enron@ENRON, Rod Hayslett/FGT/Enron@ENRON, Tracy
Geaccone/GPGFIN/Enron@ENRON
cc:

Subject: Mavrix

Mavrix Transportation Trading Corp., which is a subsidiary of ETS, needs to
satisfy TW's creditworthiness requirements in order to enter into a
transportation agreement with TW.  Paul Cherry has suggested that Northern
Natural Gas issue a guarantee.  Please let me know whether you think this
would be acceptable.  If Mavrix wanted to hold NNG capacity, TW could issue
the guarantee.


Shelley, FYI.  Thought you might want for Monday's staff meeting

	Donna, you may want to incorporate some of this in the weekly bullets.  Thanks. Lynn

 -----Original Message-----
From: 	Berger, Larry
Sent:	Friday, October 12, 2001 9:11 AM
To:	Dietz, Rick; Blair, Lynn
Cc:	Berger, Larry
Subject:	NNG Flowing Gas Documents

Rick and Lynn,

I just wanted to give you an official memo that the NNG Flowing Gas Documents are now online with both the Reservation, Commodity, Variance and Imbalance invoices and their supporting documents.  NNG Customers are able to view both the Aug and Sep 2001 accounting month reports.  The customer can also view the 5 original Flowing Gas documents (Contract Imbalance, Shipper Imbalance, Invoices (Reservation and Commodity only), Allocation, and Measurement Information) from May 2000 to Aug 2001 accounting months via a hyperlink to Actuate.

During the next couple of months, I will still be working with the NNG reps and customers on various issues regarding the Flowing Gas reports: for instance, researching why the customer cannot access certain documents.   I will also be meeting with Legale and IT weekly on enhancements to Flowing Gas that are needed.

See me if you have questions.

Larry


Here is the letter e-mailed to Michiwest.

Mike


Please let me know if you have any revisions to the attached.


There is no need to get into a discussion with AA at this point.

-----Original Message-----
From: Bowen Jr., Raymond
Sent: Sunday, November 11, 2001 3:32 PM
To: Hayslett, Rod
Subject: RE: Haina Note

I assume they are focusing on Enron's credit quality.  Correct?

Ray

-----Original Message-----
From: Hayslett, Rod
Sent: Sunday, November 11, 2001 3:30 PM
To: Bowen Jr., Raymond
Cc: 'kevin.howard@enron.net'; Saunders, James
Subject: RE: Haina Note

I have a request, AA has asked if we can repay the notes to the pipes,. Not actually, but realistically from business unrelated to the pipes.   They may want to discuss with you.
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)


Please note that the Raptor I credit capacity is at $(6.2) million due mainly
to Catalytica which is now a publicly traded stock.  Raptor 3 also has a
negative credit capacity.


kARL,
 Please attach the revised document for my review.

	Karl E Atkins@ENRON
	Sent by: Karl E Atkins@ENRON
	05/30/2001 01:11 PM

		 To: Dan J Hyvl/HOU/ECT@ECT
		 cc: John Towles/NA/Enron@ENRON
		 Subject: Tap Facilities Site for Ballard Exploration Fina "A" #1

Dan, I have made changes to the document we went over in your office
yesterday afternoon. Please review the attached and return to me with any
revisions you want. When you are comfortable with document I will send to
land owner's agent.
Thank you, Karl Atkins.


Stinson -

We will get something to you tomorrow.

Bruce

Stinson Gibner@ECT
01/04/2001 05:18 PM
To: Bruce Lundstrom/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Vince J Kaminski/HOU/ECT@ECT, Sandeep
Kohli/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT

Subject: CA for Henwood

Bruce,

Evidently your assistant was unsuccessul in finding the CA's used in either
the of the previous Henwood projects for Japan and Korea.

We are working on a project to model the economic viability of Dabhol under
economic dispatch and are faced with a very tight deadline in February.   Can
you help us put together a confidentiality agreement for Henwood Energy
Services, Inc. who will be performing the model calculations?

Any help would be appreciated.

Regards,

Stinson Gibner
V.P. Enron Research
x34748


Could we have a conference call before the call with GE?   We need to discuss
with Lisa her comments so that we can get clear sign off to proceed on the
Longview turbine contract.  Catherine, will you get a time from Lisa when we
can speak to her this morning, please?  Thanks!

	Scott Dieball@ENRON_DEVELOPMENT
	05/30/2001 08:33 AM

		 To: John G Rigby/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
		 cc: Kay Mann/Corp/Enron@Enron, Sheila Tweed/HOU/ECT@ECT, Lisa
Bills/Enron@EnronXGate, Roseann Engeldorf/Corp/Enron@ENRON,
pthompson@akllp.com, Eric Booth/ENRON@enronXgate, Bill
Williams/ENRON@enronXgate
		 Subject: RE: Rev5 of the GE World Hunger T&Cs

The problem as I see it with respect to a material default argument is that
Article 16 re TD&I doesn't set a standard as to how/when such services will
be furnished by GE.  Does Ex. H-1 set forth such criteria or does it merely
describe the types of services furnished?

Maybe in Article 16 we could try to put similar timing and cover  provisions
as found in Article 14 re GE's warranty obligations.

As we all know presently TD&I is a touchy subject with all the GTG vendors as
a result of record equipment orders and lack of qualified technical reps.

I agree that the LD's don't apply as presently drafted and that we should
discuss internally with the team before we launch back our position to GE.
Any suggestions from the rest of the group?

	John G Rigby
	05/23/2001 03:10 PM

		 To: Scott Dieball/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
		 cc:
		 Subject: RE: Rev5 of the GE World Hunger T&Cs

Lets discuss before replying.  Do  you think lack of TDI would be material
breach.   At first I was thinking Take Over would work, but it is related to
Equipment.
----- Forwarded by John G Rigby/ENRON_DEVELOPMENT on 05/23/2001 03:07 PM -----

	Bill Williams/ENRON@enronXgate
	05/23/2001 03:02 PM

		 To: John G Rigby/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
		 cc: Eric Booth/ENRON@enronXgate, Sheila Tweed/HOU/ECT@ECT
		 Subject: RE: Rev5 of the GE World Hunger T&Cs

John my only comments are in article 12 - do not be so specific in naming
policy number and date.  ENA changes its policy - we'd need to revise the
agreement.

Also - in Article 16 - is there a way to say lack of TDI support would be a
default condition and may be cause for penalty LDs?  We are hearing some
stories where GE is so short on being able to supply TDI - that weeks have
gone by where installation of the GTs are delayed.  Are there any provision
ties to LDs associated with Article 16? If not - we need them.

 -----Original Message-----
From:  Rigby, John
Sent: Tuesday, May 22, 2001 4:01 PM
To: Tweed, Sheila; Jacoby, Ben; Bills, Lisa; Engeldorf, Roseann; Dieball,
Scott; Stephen.swift@ps.ge.com; Michael.barnas@ps.ge.com;
Kent.shoemaker@ae.ge.com; Mann, Kay; john.schroeder@ps.ge.com; Williams,
Bill; Hearn III, Ed; Rigby, John; pthompson@akllp.com
Subject: Rev5 of the GE World Hunger T&Cs

Attached is a clean version of Rev 5 and a redline to Rev 4 of the draft
"World Hunger" document.  The Enron team has not had the opportunity to
review this draft, thus I must reserve Enron's rights to make withdraw and
add changes.

 << File: GE Agreement - Version 5.DOC >>  << File: Comparison of GE Turbine
Agreement, Versions 4 to 5.DOC >>


---------------------- Forwarded by Daren J Farmer/HOU/ECT on 04/11/2000
11:55 AM ---------------------------

	Enron North America Corp.

	From:  Brenda F Herod                           04/11/2000 09:54 AM

To: Daren J Farmer/HOU/ECT@ECT, Pat Clynes/Corp/Enron@ENRON, Stella L
Morris/HOU/ECT@ECT
cc: Brian M Riley/HOU/ECT@ECT, Rita Wynne/HOU/ECT@ECT, Clem
Cernosek/HOU/ECT@ECT, Howard B Camp/HOU/ECT@ECT, David Baumbach/HOU/ECT@ECT,
Bryan Hull/HOU/ECT@ECT, Michael Walters/HOU/ECT@ECT
Subject: King Ranch

I just spoke briefly with Brian Riley, who is working to restructure the Knig
Ranch contracts with Exxon, and put Coastal into the loop.  Yesterday I
forwarded each of you an E-mail from Steve Van Hooser which had drafts of
contracts attached.  As I talked with Brian, the King Ranch set up as he is
negotiating will be simplified.  The intent, as I understood it, is that we
will no longer buy at the wellhead.  Rather, Coastal is entering into a a
gathering agreement with HPL to buy at the wellhead and ship to the plant.
HPLC will buy at the tailgate of the plant, net of PVR.  So there will not be
future settlements with Exxon on liquids.  The paper has not been returned
from Coastal or Exxon yet, but the deal is effective 4/1/00.  Everything will
be under new agreements, with receipts and deliveries by different
counterparties.  The gas flow continues the same, just under new contracts
and different counterparties.

Daren, Pat and Stella:  Daren, Brian said he would get with you to discuss
the deal in further detail.  Please include Pat and Stella in the discussion
also.  The contracts should be reviewed and understood to ensure proper
scheduling.  As I mentioned to Greg Sharp and Brian, it is critical that we
be kept in the loop, especially on retroactive deals, as scheduling,
transport rates and risk are affected.

Thanks to everyone for ensuring the communication lines are in place.


----- Forwarded by Elizabeth Sager/HOU/ECT on 10/12/2000 08:18 AM -----

	drusso@reliantenergy.com
	Sent by: Nina_Tillett@reliantenergy.com
	10/11/2000 04:33 PM

		 To: lflowers@reliantenergy.com, elizabeth.sager@enron.com, sstack@enron.com
		 cc:
		 Subject: Revised CAISO Language

Attached is a clean and red-lined version of the CAISO language.

-Dede
(713) 207-5240

(See attached file: CAISO LANGUAGE 101100.doc)               (See attached
file: CAISO LANGUAGE 101100 RED.DOC)
 - CAISO LANGUAGE 101100.doc
 - CAISO LANGUAGE 101100 RED.DOC


Click on the link below to access True Quote's new Online Tutorial

http://www.truequote.com/tqtutorial.htm


Lisa J. Mellencamp
Enron North America Corp. - Legal
1400 Smith St.
Houston, TX  77002
Tel:  (713) 853-7986
Fax: (713) 646-3393
E-mail:  Lisa.Mellencamp@enron.com
----- Forwarded by Lisa Mellencamp/HOU/ECT on 04/20/2001 02:36 PM -----

	"Meier, Peter" <peter.meier@neg.pge.com>
	04/20/2001 02:29 PM

		 To: "'lisa.mellencamp@enron.com'" <lisa.mellencamp@enron.com>,
"'linda.j.simmons@enron.com'" <linda.j.simmons@enron.com>
		 cc:
		 Subject: AGREEMENT WITH RESPECT TO GAS TRANSPORTATION

 <<Gas Transaction Agr. Execution (4-20-01).doc>>

Here is my suggested fix for eliminating the gas transaction schedule.  I
checked the use of the term "Gas Transactions" and I think it works.  I will
try to catch up with Bob to see if he agrees.  Peter

PG&E National Energy Group and any other
company referenced herein that uses the PG&E name or
logo are not the same company as Pacific Gas and
Electric Company, the regulated California utility.  Neither
PG&E National Energy Group nor these other
referenced companies are regulated by the California Public
Utilities Commission.  Customers of Pacific Gas and Electric Company
do not have to buy products from these companies in order
to continue to receive quality regulated services from the utility.

 - Gas Transaction Agr. Execution (4-20-01).doc


Mike,

Thanks for the invitation. See you on Friday,
April the 27th.

Vince

Mike Fowler@ENRON
04/11/2001 01:45 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject:

Vince,

I've been out of the office the last few days.

As we discussed Friday, Veronica and I hope you can join us, the Stocks and
the Chaneys (Craig Chaney is with EnronCredit.com) for dinner at 7:00 Friday,
April 27th.

Directions from Research and Gosling:

Go west on Research Forest

Turn left the 2nd time you cross Alden Bridge (stop sign after Kuykendall,
shopping center on right with Albertson's, Exxon).

Go approximately 1.4 miles.

Will pass park and elementary school on left.

Take next left - Noble Bend.

Turn right on the 2nd street - Freestone Place.

We are # 30 Freestone Place - the next-to-last home on the right.

Phone # 281-362-7267

Mike
x39990


Rick will hold a Government Affairs department conference call tomorrow as follows.  Please mark your calendars accordingly.

Date:		Wednesday, November 28

Time:		4:00 PM (CST)

Number:	800-745-1000 (domestic)
		801-977-0648 (int'l)
		8533407 (passcode)

Location:	ECN 4701 (for those in Houston)

Thanks!!!

Ginger Dernehl
Administrative Coordinator
Global Government Affairs
Phone# 713-853-7751
Fax# 713-646-8160


I will be out of the office Friday, May 12, 2000.   If you require assistance
with an EOL-related contracts matter during that time, then please contact
one of my backups:

Global EOL Contacts:
    Name   Work Telephone Pager Number
PRIMARY BACKUP   Linda Bryan   (713) 853-3538  (713) 709-3443
SECONDARY BACKUP  Sylvia Campos  (713) 853-5755  (713) 509-4650
MANAGER   Connie Sutton  (713) 853-5686  (713) 709-0295

Thank you,
Karen


meeting file
----- Forwarded by Steven J Kean/NA/Enron on 02/01/2001 05:16 AM -----

	Gary P Smith
	01/31/2001 04:32 PM

		 To: Steven J Kean/NA/Enron@Enron
		 cc: Maureen McVicker/NA/Enron@Enron, Carolyn Perry/OTS/Enron@ENRON
		 Subject: ETS HR Conference

Steve,

Thank you for agreeing to speak at the ETS HR Conference.  Since we spoke
last week, the meeting date has changed from February 20 to Monday, February
26 to better accomodate presentors' and attendees schedules.  We have
confirmed that this date works well for both you and Stan Horton.  On the
26th, we will kick off the afternoon session with lunch at 12:15 PM, followed
by your presentation from 1:30-2:30 and Stan's from 2:30-3:30.  You are
invited to have lunch with us and spend as much time with us that afternoon
as your schedule allows.

To follow up on our conversation last week, it would be great if you could
talk to the group about Enron's performance in 2000, its successes and
stumbles, and how ENE's stock price is impacted.  It would also be helpful if
you could discuss the look of Enron in 2001, what its primary busninesses are
and how they drive earnings; as well as what significant initiatives Enron
has planned for 2001.  I have asked Stan to talk about ETS' performance
during 2000, what he was pleased with and what lessons were learned.  He also
will share his perspective on how ETS fits into Enron's plans for 2001, as
well as what initiatives and objectives are critical to ETS' success this
year.

Thanks again for taking time out of your schedule to spend it with the ETS HR
team.  I look forward to seeing you on February 26.

Gary


The report named: Violation/Notification Memo <http://erv.corp.enron.com/linkFromExcel.asp?report_cd=60&report_name=Violation/Notification+Memo&category_cd=2&category_name=ENRON%20CONSOLIDATED&toc_hide=1&sTV1=2&TV1Exp=Y&current_efct_date=09/20/2001>, published as of 09/20/2001 is now available for viewing on the website.

(Revision: 4)

Publisher's Notes:

FINAL


Deal 93200 covers this meter.  However, we have a zero as the expected
volume.  You can select "always send nom" in MOPS to get this to come over in
POPS.

D

   Aimee Lannou                06/21/2000 08:26 AM

To: Daren J Farmer/HOU/ECT@ECT
cc:
Subject: meter 1429

Daren - meter 1429, IND Sterling Gas Plant has flow beginning 6/12.  It is a
very small volume.  Could you please create a deal for this?

Thanks.

Aimee


Kevin,

VAR, P&L, positions and prices are all in the attached file.  Hope you have a good Thanksgiving.....take the time to enjoy your family.

Casey


Are you still in charge of recruiting for the collection of assest formerly
known as Enron International?
---------------------- Forwarded by Richard B Sanders/HOU/ECT on 10/18/99
05:44 PM ---------------------------

Shari Stack
10/05/99 01:38 PM
To: Richard B Sanders/HOU/ECT@ECT, Julia Murray/HOU/ECT@ECT, Steve Van
Hooser/HOU/ECT@ECT
cc:
Subject: Resume - Mirari Barriola

In case we have a position open, attached is the resume of a friend of mine,
Mirari Barriola. She is primarily a finance attorney and is fluent in
Spanish, German and English. Her husband just began the Enron associate
program and sent her resume to EI but I thought it would be worthwhile
passing it around here.

Please let me know if you are interested to meet her.

Many thanks,

Shari


---------------------- Forwarded by Phillip K Allen/HOU/ECT on 07/14/2000
02:00 PM ---------------------------

	Enron North America Corp.

	From:  Kenneth Shulklapper                           07/14/2000 06:58 AM

To: Phillip K Allen/HOU/ECT@ECT
cc:
Subject: El Paso Blanco Avg product,

Please extend all internal gas traders view access to the new El Paso Blanco
Avg physical NG product.

Tori Kuykendahl and Jane Tholt should both have administrative access to
manage this on EOL.

If you have any questions, please call me on 3-7041

Thanks,

Phillip Allen


I'm sure this doesn't  matter, but I'm in Jeff Hodge/Barbara Gray's cost
center.  Just so long as I get paid!

4-13 was a vacation day.

Thanks again,

Kay

Becky Spencer@ECT
04/13/2001 03:45 PM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: Time

Since Suzanne Adams is out of the office I will be inputting time for Sheila
Tweed's Cost Center for this pay period.  Please send me your time for the
pay period 4-1 through 4-15 by 5:00 p.m. on Friday (the 13th).  You may reply
to this e-mail with any time exceptions such as vacation, sick, personal,
jury duty, etc.  Basically, any time not working!

Kay:  Early Monday is fine.

Thank you!
Becky Spencer
x37599


FYI...
---------------------- Forwarded by Michelle Lokay/ET&S/Enron on 08/17/2000
12:35 PM ---------------------------

"Triem, Mike" <Mike.Triem@COMPAQ.com> on 08/17/2000 10:11:29 AM
To: "'Colvin, Craig'" <Colvin_Craig@Valic.com>, "'Ernest Blansfield'"
<EBlansfield@Ideon-Inc.com>, "'Gambrell, Brian'" <bgambrell@corestaff.com>,
"'Hank Kuczynski'" <Hank_Kuczynski@Valic.com>, "'Jose Beiro'"
<Jose_Beiro@AGC.com>, "'Lowney, Jeff (home)'" <casafun@aol.com>, "'Mario
Reyna'" <mreyna@agannuity.com>, "'Michelle Lokay'" <mlokay@enron.com>,
"'Miller, Randy'" <Miller_Randy@Agc.com>, "'Mitch Provost'"
<mitchp@atlantia.com>, "'Nick Allen'" <nick_allen37@hotmail.com>, "'Norman
Comstock'" <NComstock@Ideon-Inc.com>, "'Pat Whitworth'"
<Patwhitworth@hotmail.com>, "'Ravain, Mike'" <mcravain@equilon.com>,
"'Wendler, Doug'" <Doug.Wendler@enform.com>
cc:

Subject: Dell Computer Financial Practices

Interesting information about Dell...

Mike Triem
NA IPAQ & Displays Business Planning
281.927.8586

> Here's an interesting little tidbit about Dell's stock...
>
>
>  <<Dell Computer Financial Practices.htm>>

 - Dell Computer Financial Practices.htm


John,

The gas is off TW at West Texas Pool.  It is between 42,500 and 51,000 MMBtu
per Month.  Starting Oct 1, 2001 and Ending May 1, 2010.  It is an expansion
of the current Gallup deal.

Thanks
Peter Bennett


Steve:
I think I already forward these to you, but if not, they're the prices that
Henderson came up with for fully shaped prices to the utilities.  May be
useful re: conversations with the Street about getting the utilities out of
procurement.  Note that the date on the prices is 10.02.00 so they're
somewhat stale, but arguably still indicative.  I'm also going to give you
the prices Belden just gave us (prior to the run up yesterday, though) for
prices at SP15.

Best,
Jeff
----- Forwarded by Jeff Dasovich/NA/Enron on 10/13/2000 01:11 PM -----

	Ronnie Chahal@EES
	10/02/2000 04:39 PM

		 To: jdasovic@enron.com
		 cc: John Henderson/HOU/EES@EES, Peter Bray/TNPC/EES@EES, Matthew
Crouse/HOU/EES@EES, Ronnie Chahal/HOU/EES@EES
		 Subject: Pricing for California utilities

Jeff;
Per our phone conversation, please find attached the pricing sheet.

Ronnie Chahal
713.853.3400


Team,

Will ESAT still be the signatory to the contract as agent for the Brazilian
Power Development Trust, or will the contract be directly between the Trust
and GE?

Thanks,

Kay


Bob.

I could have sworn that I sent you this information earlier.  But I can't find it in my e-mail anywhere, so here it is:

Highest Priority
El Paso Gas Transmission Texas Pipeline (formerly PGE Texas and Valero)	Hub contract, Park & Lend contracts, inter- and intrastate transport
East Texas Gas Transmission (Duke Energy Field Services)			Cartwheel agreement, transport

Secondary Priority
Guadalupe Pipeline (Duke Energy Field Services)					Intra- and interstate transport
Oasis Pipeline									"	"	"	"
TXU Gas Distribution (Lone Star Pipeline)						"	"	"	"
Houston Pipe Line								"	"	"	"
El Paso Field Services Channel							"	"	"	"
Oneok Westex (Westar)								"	"	"	"
Kinder Morgan Texas Pipeline (Midcon)						"	"	"	"
Tejas Pipeline

The contracts on the pipes listed under "Highest Priority" are required for us to trade in the 3 main areas in Texas (EOL).  We must have these on day one.  The secondary contracts/pipes will be used soon after start up and are ranked in order of importance.  Please let me know if you have any questions.  Again, I thought that I sent this to you a couple of weeks ago. Sorry for the delay.

D
 -----Original Message-----
From: 	Superty, Robert
Sent:	Wednesday, January 02, 2002 9:50 AM
To:	Farmer, Daren J.
Cc:	Calcagno, Suzanne
Subject:	RE: NETCO Items

Darren, plan is to have the necessary contracts in place under the new NETCO name so we can do business on all key pipes. Regarding the Intrastates I suggest you think about the key ones so we have them on the list and get basic contracts in place once we have a new name and parent. Also what services you want on each so we get all the necessary contracts done.

I'll get you some budget info shortly, tks - Bob

 -----Original Message-----
From: 	Farmer, Daren J.
Sent:	Wednesday, January 02, 2002 9:43 AM
To:	Superty, Robert
Subject:	RE: NETCO Items

Bob,

For the Texas Desk, Mike Olsen and I will start out handling the scheduling activities.  As we start up we will not be doing a lot of shipping on the intrastate pipes.  We will primarily be utilizing hub and cartwheel agreements and net outs.  Trading primarily on the Waha, Katy , and Carthage hubs.  I will cover Katy and Carthage.  Mike will continue to cover Waha and any shipping activities on the intrastate pipes.  I will need a second person fairly soon after we begin trading again (within a month or two).

What are you thinking that we need to look into on the intrastates?

Also, with message of setting up new budgets, can you have Brandy send me a copy of the budget we had in place for Texas 2002?

Thanks.

D

 -----Original Message-----
From: 	Superty, Robert
Sent:	Wednesday, January 02, 2002 8:51 AM
To:	Kinsey, Lisa; Jaquet, Tammy; Olinger, Kimberly S.; Calcagno, Suzanne; Farmer, Daren J.; Lamadrid, Victor; Sullivan, Patti; Gay, Randall L.
Cc:	Jackson, Brandee; Hall, Bob M
Subject:	NETCO Items

Wanted to share the latest communication on NETCO. This is all good news and exciting to see that things will be moving on a fast track from this point forward. I will be pulling you together and asking for some information to meet the plans and deadlines listed below.

For a start please review your pipe coverage that is planned on your desk with the NETCO team you will have to work with and forward me that breakdown. I know you took a preliminary look at this but I want you all to rethink and give me a "final or startup" list. The list you gave me on the contracts required for NETCO on the pipelines has been consolidated and is being reviewed. I believe we need to take a look at some of the Intrastates and key LDC's and get that info on the list. Seating plan should be simple once we get a better handle on the layout for 5 & 6. I'll try and get some details today. Don't know if we will be allocated spots on 6. IT systems layout and structure is already being planned/discussed. Most likely we will get involved in some testing once they start laying out the new architecture.

In addition any other items for a re-start that you can think of please forward to me.

Of course we still have the major hurdle of securing a buyer and once/if we do what do they actually submit a bid to purchase. Let's be optimistic and hope they are interested in the NETCO structure that has been laid out. Regardless we still need to do all of the tasks listed below to get ready.

Thanks - Bob

The New Year has arrived and we really to finalize a lot of the work with regards to moving into NETCO.  Obviously we still do not have a deal but the deadline is approaching and preparations need to be finalized.

The main areas to focus on over the next week are:-

(i) 	Re-start/Integration Plans (due on Jan 7)				To be forwarded to Louise
	These plans need to be detailed and show clear detailed timelines and detailed responsibilities for getting us up and running as soon as possible.
	The current restart date is January 21, 2001 but may be pushed forward to January 14, 2002.
(ii)	Budget (due Jan 3, 2002)						To be forwarded to Faith Killen
	First year budget to include all start up costs (some of which can be amortized)
(iii)	Seating Plans								Tammy Shepperd to co-ordinate
	We need to start the planning process for seating as we will be living on floors 5 & 6 of the Enron South building.
	I have asked Tammy Shepperd to commence the seating plan and we would look to start the moves as soon as possible but with a large number occuring around January 11,2002.
(iv)	Due Diligence
	We continue the process with two new companies this week (Wednesday and Thursday). Andy Zipper is taking the lead for the company arriving on Wednesday, please help him with his requirements.


Dear Forexnews.com Newsletter Subscriber,

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Oooh, I hope they videotape this!  Sue -- you're going to be amazing!!  Jeff's just jealous that Freeman's keeping his date with you and he canceled on Jeff.  Freeman's scared of a rematch after your last VICA appearance, so they've brought in Horowitz.  Who's Fred Pickerel?

-----Original Message-----
From:	Dasovich, Jeff
Sent:	Wed 10/17/2001 6:11 PM
To:	Mara, Susan; Denne, Karen
Cc:
Subject:	RE: Info on VICA conference

I think Sue should come down with something (I know I would).  Horowitz? Eegads. He will be relentless...

Looks like this group likes a good food fight.
-----Original Message-----
From: Mara, Susan
Sent: Wednesday, October 17, 2001 6:10 PM
To: Denne, Karen; Dasovich, Jeff; Kaufman, Johnathan
Subject: FW: Info on VICA conference

Karen,
I can't believe you got me in to this! David Horowitz!

-----Original Message-----
From: Sandra Yamane [mailto:SYamane@marathon-com.com]
Sent: Wednesday, October 17, 2001 4:06 PM
To: Mara, Susan
Subject: RE: Info on VICA conference

Hi Sue:

The Valley Industry and Commerce Assn (VICA) is holding its 13th annual
Business Forecast Conference on Friday, Oct. 26th at the Warner Center
Marriott, located at:

21850 Oxnard Street
Woodland Hills, CA 91367
Phone: 1-818-887-4800

Your panel will begin at 10:00 a.m. and will be moderated by Paul Dandridge,
Anchor/Journalist for KCBS News.  Other panelists include: David Freeman,
David Horowitz, and Dr. Fred Pickel.

If you have questions about the conference, call Bonny Herman, president of
VICA or Scott Schmidt, VICA director of legislative affairs at 818/817-0545.

Call me if you have any other questions.  I may be reached at 323/655-4660.
Looking forward to seeing you Friday.

Sandra

-----Original Message-----
From: Mara, Susan [mailto:Susan.J.Mara@ENRON.com]
Sent: Wednesday, October 17, 2001 3:34 PM
To: syamane@marathon-com.com
Subject: Info on VICA conference

I know I'm speaking on the 26th -- but I have no information on where or
when. Could you please tell me who to contact at VICA?

Sue Mara
(415) 782-7802

**********************************************************************
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.
**********************************************************************


---------------------- Forwarded by Matthew Lenhart/HOU/ECT on 11/13/2000
02:09 PM ---------------------------
To: Matthew Lenhart/HOU/ECT@ECT
cc:

Subject: Fwd: Election concession & retraction parody. Has good audio also.

---------------------- Forwarded by Ross Prevatt/HOU/ECT on 11/13/2000 01:08
PM ---------------------------

Charles H Otto
11/13/2000 01:03 PM
To: Ross Prevatt/HOU/ECT@ECT
cc:
Subject: Fwd: Election concession & retraction parody. Has good audio also.

---------------------- Forwarded by Charles H Otto/HOU/ECT on 11/13/2000
02:01 PM ---------------------------

Chris Gaskill@ENRON
11/13/2000 12:35 PM
To: Charles H Otto/HOU/ECT@ECT, Tara Piazze/NA/Enron@ENRON
cc:
Subject: Fwd: Election concession & retraction parody. Has good audio also.

---------------------- Forwarded by Chris Gaskill/Corp/Enron on 11/13/2000
12:35 PM ---------------------------

Marc Bir <marc@delphihome.com> on 11/13/2000 12:29:45 PM
To: Chris.Gaskill@enron.com
cc:

Subject: Fwd: Election concession & retraction parody. Has good audio also.

><http://www.mediatrip.com/shows/phone_flash.html
>http://www.mediatrip.com/shows/phone_flash.html


FYI

-----Original Message-----
From: Nicolay, Christi
Sent: Wed 5/23/2001 1:22 PM
To: Marchris Robinson@ENRON; Krimsky, Steven; Jacoby, Ben; Montovano, Steve;
Steffes, James; White, Ann Elizabeth; Thode, Eric; Robinson, Marchris; Grube,
Raimund
Cc:
Subject: Final fact sheet

Any other comments?

 <<florida facts final.doc>>


Jefe:

Hotel expenses- anywhere from 200-600 yuan per night ($25-75 USD). Totally
depends on what hotel you chose and how nice a room you want. In general,
you'll probably be choosing to stay in middle tier lodgings.

Unfortunately, hotel rates in China aren't cheap. When I first travelled
through southern China in 1997 I budgeted myself 300 yuan ($37 USD) per
night, but ended up staying in group dorm-style backpacker rooms and paid
much less. However, you and Cathy probably won't be adopting this approach on
your short excursion.

  In Shanghai Ai Ping and I usually stay in an old hotel named the Pujiang
(built in 1846 by a Brit). It's strategically placed on the Bund (waterfront)
and is quite decrepit yet funky. We pay about 200 yuan for a double bed. This
is probably the cheapest double in Shanghai, and thusly all the backpackers
flock here. If we want a newer, cleaner and more comfortable double we
usually pay anywhere between 350-600 yuan per night ($43-75 USD).

  Because you are a white-skinned foreigner (and in China this automatically
means you're a millionaire) and because you can't speak Chinese you'll
probably be quoted the highest fare the hotel clerks can dream up.

Remember: in China every price is negotiable, and if you don't play the role
of greedy Westerner and bargain for 2-3 minutes to get a lower price THEY
WILL EAT YOU ALIVE. If you don't haggle with them over the price you are
considered a fool and automatically deemed unworthy of their regard- and they
will make you pay five times the actual price of the room AND THEN THEY WILL
CONSUME YOUR LIVER. This is what makes me wary of sending you out on your own
with little or no language skills. You will be preyed upon by everyone in
every business transaction. You are not a human, you are a dollar sign with
two legs in China.

> Basically, it goes something like this... You walk into a hotel that claims
to be of 4 star quality. In truth, this means that the hotel is probably
desperately clinging to a 2 star level. You stroll up to the front desk and
ask what the room rates are. The clerks will give you a schmaltzy brochure
with photos of the rooms and a price list AND THEN THEY'LL DECIDE WHAT SAUCE
TO COOK YOU IN. The double-bed room is listed as 700 yuan. You then ask the
clerks if this is the real price. They'll probably say yes AND WONDER AMONGST
THEMSELVES WHETHER OR NOT IT WOULD BE BETTER TO MAKE A SOUP OUT OF YOU. You
then ask them if they can give you a lower price. If they refuse you smile
benignly and offer to pay them 300 yuan for one night. And then the fun
begins AND THEY'LL BEGIN TO GORGE THEMSELVES ON YOUR STEAMING INTESTINES.

> Meals- anywhere from 4 yuan to 1000 yuan (50 cents - $125 USD). You can get
a huge bowl of steaming rice and two big dishes of wok-fried bliss for a buck
in China. You can also go to the other extreme and spend thousands of yuan on
a meal if you want to get ridiculous. In China food is religion. They dissed
Buddha, adopted Mao as supreme being for a couple decades, and then retreated
to their one true love: eating. Every Chinese city has about 9 billion
restaurants ranging from hovels that cater to the peasant/construction
workers (these are the ones I frequented, but Ai Ping won't let me go
anymore) to the new rich. Don't worry about food prices. You'll probably be
choosing semi-decent establishments. Expect to pay between 30-80 yuan per
meal ($4-$10 USD).

> Speaking of meals, did you know that the Australian aborigines LOVED to eat
Chinese seamen? It's actually very well documented. The Chinese sailed
throughout the South China Sea which borders the Philippines, Indonesia,
Vietnam etc. It seems that the aborigines thought the Chinese had very
sweet-tasting meat and considered them a delicacy. They were a highly
sought-after food item 500 years ago. My Australian boss uses this small fact
against his Chinese students whenever they begin to spew racist theories
about the cosmic worthlessness of aboriginal cultures in Australia: and it
horrifies them.

> Airfare- cheaper than the states. Let me get exact airfares from Ai Ping.
 She made a list of fares between cities, but it's not available at the
moment.

> Trains- cheap. To give you an idea... Taiyuan>Wuxi (22 hours/hard-sleeper
class) is about 300 yuan ($37 USD). Basically, this train goes from Shanxi
province (north-central China) to Jiangsu province (southeast China). Can
supply you with more examples if you need them.

> Money- bring travellers checks and some cash (fifty-hundred dollar bills).
Yes, some bigger hotels and banks offer ATM services but don't rely on credit
in China.

> Duration of stay- your call. Sounds like you are dealing with two busy work
schedules. Come up with a trip that you're both comfortable with. You should
see some places other than Shanghai and Qingdao, but you needn't create a
breakneck schedule either.
 Destinations- talk it over with the folks. Do you want history or nature?
Northern or Southern China? Han culture or minority cultures? Villages or
cities? Think it over and get back to me.

> >From: "Jgillaspieci3" <Jgillaspieci3@netzero.net>
> >To: "Jon W Gillaspie" <jongill78@hotmail.com>
> >CC: "Eric A Gillaspie" <Eric.Gillaspie@enron.com>, "RODGER GILLASPIE"
> ><ragillaspie@hotmail.com>, <CCGROOVES@aol.com>
> >Subject: Our Journey to the Land of 10,000 Heavens
> >Date: Fri, 23 Mar 2001 14:15:03 -0600

> >Jonny,
> >Cathy and I are trying to plan for the upcoming expenses in China. What
should we expect to pay for hotels, for airfare (Shanghai to Quingdao), any
trains, meals, etc. etc. If you could give me ballpark on these items it
would be very helpful. Also, I'm assuming that there is not an ATM on very
corner, or even credit card machines in restaurants and hotels, (I'm sure in
some.)

> >Also let me know what you think about the duration of stay, touristy
plans, etc. Cathy and I may not stay as long as Mom and Dad, depending on
vacation available from work etc.
Thanks in advance for the info. We are all looking forward to this experience.
> >Love,
> >Jeff

Eric Gillaspie
713-345-7667
Enron Building 3886


hey Mark,
yes, cita had another episode of congestive heart failure.    I'm pretty
sure that they just need to increase the dosage of her CHF medicine since
it was a fairly mild attack.    The good thing was that she noticed her
condition quickly and actually called 911 herself.   They also took her off
an IV within an hour.   We hope that she'll be out of the hospital by
Tuesday but won't know until we talk to the doctor this morning.

I'm leaving to Houston on Tuesday and return on Friday late afternoon.
So, I will not be able to go skiing on Friday.    For Saturday, I
tentatively have a golf date scheduled with Cicero and the Richardson's.
Bob was trying to schedule a few foursomes but will not know until today.
We call it the Superbowl of Golf but actually turns out to be the
Superduffers.    If you are interested in playing, I'll see if he has an
opening for another golfer and you can play in my foursome.

If golf falls through, a day in Big Bear sounds good if the ski conditions
are good.    I'll need to drive up and back the same day.   Karen cannot go
because she is recuperating from her lasik eye surgery and cannot do any
strenuous exercise for a couple weeks.     We can check the weather and
conditions later in the week.

If golf and skiing fall through, then I might take Karen to a museum on
Saturday.    She's been wanting to see a special Egyptian tour that is
actually in Santa Ana through February.   You are welcome to join us if
interested in Egyptology.

No real plans for the superbowl, other that maybe a gathering at my place
and possibly doing the HB 10k run in the morning along the pier.     I'm
not too interested in the game itself but we'd be remiss not to have at
least a small gathering.   So, plan on that if nothing else comes up.

I will not have email access during my trip to Houston.....  so leave
voicemails instead during the next week.
see ya,
Dave

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


Kay,

Sorry to be so slow in getting back to you. I'm generally available for the
rest of the week. I have several lunch meetings, but my schedule is free
otherwise.


Stan and Jim -
Attached is a draft report to the board regarding the new stds org. Let me
know if this is okay, or if you expected something else.  After I get your
okays and changes, I will send it on to the other task force members for
their thoughts and approvals.  It up front states that we are not asking for
a vote to change the governance at the June meeting.  Thanks,  Rae

 - meeting notes 5-26-00.pdf


This email will update you on the status of Project Stanley.

Last week, Steve Kean and I traveled to Calgary to meet with our Canadian
lawyers and consultants to outline a strategy for defending the goverment
criminal investigation of Enron Canada's electricity trading activities.  The
results were as follows:

There has been no publicity generated as a result of the government
investigation.  Obviously, this could change tomorrow.  We have retained a
Canadian public relations firm to assist Steve Kean's group with thepotential
press inquiries.

Our intellingence indicates that the government's investigation is not moving
forward in any organized manner.  Our lead lawyer, Glenn Leslie, has spoken
to the lead lawyer for the government, Jim Sutton, about the possibility of a
meeting between Enron and the government.  Sutton said he wanted to meet but
that his team was not ready at this time.  Sutton indicated that several of
his team members had left the investigation and that he was recruiting other
team members.  Glenn Leslie learned from another source that the government
siezed 1700 hours of tapes from our counterparty , Power X, and that they do
not know where to start the pain staking effort of listening to the tapes.
Based on this information, we do not believe the proposed initial meeting
will take place for 2-4 months.

Power X, like the government is far behind Enron in its investigation of the
alleged unlawful events.  Glenn Leslie has traveled to Vancouver to meet with
Power X's attorneys to advise them of Enron's position.  Power X has agreed
to cooperate with Enron and has signed a joint defense agreement.  We do not
believe that Power X will try to negotiate its own settlement with the
government without our knowledge.

We have retained several experts to assist Glenn Leslie and his firm with
developing strategies.  In addition, we have "conflicted" several other
experts who may be retained by the government.  The meeting last week in
Calgary was our first opportunity to meet the experts and hear their theories
of defense.  These include the allegation that Enron and Power X participated
in "bid riggering" is untrue because the Alberta Power Pool price clearing
procedure is not a bidding process at all.  We and other market participants
simply make offers into the pool.  We do not know whether the offer will be
accepted.  More importantly, we do not know what the price will be.


Hi Larry,

Since it's been two months since we have heard from you we wanted to check
back with you and see if there is anything we can do to help you with your
diamond buying decision? Our goal is to help you make an informed decision
that you will be happy with for years to come.  Remember, since we don't own
these stones, we are your personal diamonds consultants who will work to find
the very best diamond for you at a great price.

Since you have not responded to any of our emails these past 8 weeks, we
assume you are no longer shopping for a diamond and will remove your name
from our active customer list.  We hope that if you are still shopping you
will contact us so we can help you find a great diamond.

If you have any questions about diamonds or the diamond buying process please
give Anne or me a call at the toll free number below or email us.  We take
calls until about 9:00 p.m. EST since we are dealing with customers and
suppliers on the West Coast.  We find that serious diamond buyers always want
to call and visit with us so that we can better understand your needs and
answer any of your questions.  Email works great for shopping, but the
telephone is the better way to conduct business for such an important
purchase.

Looking forward to hearing from you soon!

Denny Reinke - Vice President
Diamond Source of Virginia, Inc.
http://www.DSOURCEVA.com
Phone:   804-360-7428
Fax:   804-360-1532
Toll Free: 888-477-8385


Steve:  here's the final witness list.  You are still with the FERC witnesses
but this is now the second panel.
---------------------- Forwarded by Cynthia Sandherr/Corp/Enron on 09/08/2000
04:01 PM ---------------------------

"Black, Andy" <andy.black@mail.house.gov> on 09/08/2000 03:45:02 PM
To: Chris Giblin <chris_m_giblin@reliantenergy.com>,
Howard_Useem@energy.senate.gov, Cal Odom <codom@eei.org>, Montee Wynn
<montee.wynn@nreca.org>, Cynthia Sandherr <Cynthia_Sandherr@enron.com>,
gwilliams@sempra.com
cc:

Subject: San Diego witness list

 <<san diego witness list.wpd>>

Each of you have asked for this.  Enjoy.

 - san diego witness list.wpd


----- Forwarded by Tana Jones/HOU/ECT on 06/23/2000 05:07 PM -----

	Tom Moran
	06/23/2000 04:59 PM

		 To: Frank L Davis/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, Tana
Jones/HOU/ECT@ECT, Samuel Schott/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT, Sheri
Thomas/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Bernice Rodriguez/HOU/ECT@ECT,
Brant Reves/HOU/ECT@ECT, Debbie R Brackett/HOU/ECT@ECT, David
Hardy/LON/ECT@ECT, Lesli Campbell/HOU/ECT@ECT, Lisa Gillette/HOU/ECT@ECT,
Linda S Bryan/HOU/ECT@ECT, Connie Sutton/HOU/ECT@ECT, Sylvia A
Campos/HOU/ECT@ECT, Molly Harris/HOU/ECT@ECT, Cynthia Clark/Corp/Enron@ENRON,
Mary G Gosnell/HOU/ECT@ECT, Enron Europe Global Contracts and Facilities,
Enron Europe Global CounterParty, Stephanie Sever/HOU/ECT@ECT, Bradley
Diebner/HOU/ECT@ECT
		 cc:
		 Subject: EOL / Credit / GCP Responses 6/23/00

Please find attached Credit's EOL responses for 6/23/00.

Regards
tm


Please find the attached file for the roll forward of Capital Book Activities:

Please note:  I will be out of the office until November 12th.  If you have any questions or comments, please feel free to call Kim Harris (x53474).

Robert B Cothran
Enron Americas
713-853-3478


pls print.  thanks df
---------------------- Forwarded by Drew Fossum/ET&S/Enron on 10/02/2000
02:17 PM ---------------------------

Tony Pryor
10/02/2000 11:14 AM
To: Drew Fossum/ET&S/Enron@ENRON
cc:

Subject: Risk Management Policy Revisions

Drew, here's the revised draft...............Tony
---------------------- Forwarded by Tony Pryor/ET&S/Enron on 10/02/2000 11:14
AM ---------------------------

	From:  Dan Fancler                           09/29/2000 03:05 PM

To: Bob Chandler/ET&S/Enron@Enron, Lee Ferrell/ET&S/Enron@Enron, Tony
Pryor/ET&S/Enron@ENRON
cc:

Subject: Risk Management Policy Revisions

I would like to meet again to discuss the current status of the Policy early
next week.  Tony give us a date and everyone please review the changes.


Jeff,
 I will be out of the office Monday in Ohio and returning Tuesday.  We need
to talk about how to proceed.  Are you coming to Houston this week?  If so,
perhaps we could sit down on Thursday if you are coming in the night before.

Steve

	Jeff Dasovich@ENRON
	Sent by: Jeff Dasovich@ENRON
	03/02/2001 12:22 PM

		 To: Richard Shapiro/NA/Enron@Enron
		 cc: Alan Comnes/PDX/ECT@ECT, James D Steffes/NA/Enron@ENRON, Steve
Walton/HOU/ECT@ECT
		 Subject: Re: Cost of Protectionism

will do.

	Richard Shapiro
	03/02/2001 07:00 AM

		 To: James D Steffes/NA/Enron@Enron
		 cc: Alan Comnes/PDX/ECT@ECT, Steve Walton/HOU/ECT@ECT, Jeff
Dasovich/NA/Enron@Enron
		 Subject: Re: Cost of Protectionism

Agree- Steve & Jeff- can you take the lead?

From: James D Steffes on 03/01/2001 06:15 PM
To: Alan Comnes/PDX/ECT@ECT, Steve Walton/HOU/ECT@ECT, Jeff
Dasovich/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron
cc:

Subject: Re: Cost of Protectionism

I recommend that we ask MRW to do a quick and dirty (nothing more than $10k)
to quantify Steve's qualitative analysis.  Good to have before we fight this
out at FERC.  If someone internal can do it, great.

Thoughts?

Jim

----- Forwarded by James D Steffes/NA/Enron on 03/01/2001 06:13 PM -----

	Steve Walton@ECT
	02/28/2001 10:06 PM

		 To: Jeff Dasovich/Na/Enron@ENRON
		 cc: Alan Comnes/PDX/ECT@ECT, James D Steffes/NA/Enron@Enron, Jeff
Dasovich/NA/Enron@ENRON, Mary Hain/HOU/ECT@ECT, Paul Kaufman/PDX/ECT@ECT,
Richard Shapiro/NA/Enron@Enron, Susan J Mara/NA/Enron@ENRON
		 Subject: Re: Cost of Protectionism

Jeff,
 In order for California to "shut its doors" it must open its
interconnections with the rest of the west and become a Texas-like electrical
island.  This they cannot do.  California has a substantial investment in
units located in Nevada, Arizona, New Mexico and Utah.  The lights would go
out in California if they opened the ties.  In the 1970's there was a hue and
cry over loop flow, with California claiming that it was being injured by
others, particularly by the interior systems trading practices, however they
never considered opening the ties, because the benefits of interconnection
were so large that the "cost" of loop flow was far exceeded by the value of
regional trade, i.e., they are economically interdependent.

 If such a foolish thing were done and California full "closed its doors" by
opening its ties, cost would go up in the Northwest, in California and all
the rest of the Western System.  There are "gains for trade" which accrue to
all parties from interconnection.  The trade is more complicated than just
summer/winter peaks (seasonal load diversity) there is also seasonal resource
diversity (Spring run off effects) and finally there opportunity to
capitalize on storage vs base load thermal operations.  I will address the
last point first to illustrate the complexity of the trading patterns.

 The interior west (Montana, Wyoming, Utah, Arizona and New Mexico) has large
amount of base load coal plants.  As load drops off in those areas, the
energy flows to the coast to back off peaking plants and to back off hydro.
The reduction of hydro production allows night time reservoir refill which
can be used to meet peak load in the Northwest and California.  This can be
seen in the attached file, which contains a set of plots for hourly flow on
the Pacific DC Intertie Jun97, Dec 97, Jun 98, Dec 98, Jun 99, Dec 99,
Jun00.  In these plots the clear day/night exchange of energy can be seen,
especially in the Jun00 plot when sales are being made to California in the
day and to the Northwest at night.  This day to night storage exchange
benefits lowers costs for everyone.

 On top of this daily/weekly cycle, there is the seasonal shift in load
diversity you noted.  For the Northwest, its peak load occurs when energy
production is the lowest -- during the winter.  As a stand alone system, the
Pacific Northwest (i.e., the Columbia Drainage area) is energy constrained.
The hydro in that area does not produce enough energy to meet annual needs.
There is plenty of generating capacity to meet any peak, but not enough to
total water flow.  Energy imports from Wyoming and Montana (e.g. Colstrip and
Bridger) are required to allow the Pacific Northwest to meet its annual
energy requirement.  With these energy inputs from the coal fields, the
seasonal water budget can be arranged to get the most value out of the hydro
system, although fish, navigation, irrigation, etc. impose an increasing
number of constraints.  Energy imports from in the winter from the South help
to meet this energy balance during the winter so water can be reserved until
the snow pack is better know in early Spring.  Some of the sales to the
Northwest from California during the winter are a result of displacement from
Desert Southwest energy moving through California and then up the Interties
to the Northwest.

 Finally, the Spring run off/fish flush when production on the river is at a
maximum and load in the Northwest is down.  The sale of these surpluses paid
for the Pacific Intertie lines and remain important to the entire system.
Much system maintenance of base load units has been historically been planned
to take advantage of this factor.  Again both California and the Northwest
benefit from this trade.

 In all cases, the parties would be worse off if the ties were open and
everyone was on their own.  The Northwest may be capacity long, but it is
typically energy short, even in flush hydro years.  The winter energy imports
from the South hold Northwest costs down just as spring run off sales to the
South lower energy costs in California.  California cannot craft a solo
solution that ignores the rest of the West.  It is probably hard to decide
who would be worst off if California "closed its doors".  It is only clear
that total cost would rise in both California and the rest of the West from
which it divorced itself.

 I hope this rambling response comes at the question you raise.

Steve

	Jeff Dasovich@ENRON
	Sent by: Jeff Dasovich@ENRON
	02/28/2001 11:35 AM

		 To: James D Steffes/NA/Enron@Enron
		 cc: Alan Comnes/PDX/ECT@ECT, Mary Hain/HOU/ECT@ECT, Steve
Walton/HOU/ECT@ECT, Susan J Mara/NA/Enron@ENRON, Richard
Shapiro/NA/Enron@Enron, Paul Kaufman/PDX/ECT@ECT
		 Subject: Re: Cost of Protectionism

To Jim's last point.  I understand that the good 'ol utility system was often
operated with little regard for basic economic principles, but there's
something in this that seems very odd and difficult to assess, and it seems
to always be tied to this notion that "California is a net importer, even in
the winter."  I'm going to start with the economics and then let folks
describe why it seemingly doesn't apply in Western electricity markets.

Just about every theory of economics and trade would lead to one conclusion:
If California closes it's doors the other Western states will pay higher
prices for power and/or face increased threats to reliability.  I'm
struggling to try to determine why these basic principles aren't applicable
to Western power markets.  I understand that the PNW is a very complex place
and that the reasons could be embedded in the arcane structure that has
developed over the years.

To keep it simple (though not necessarily accurate), I've confined the
analysis to a world in which only the PNW and California exist.

The basic situation: The PNW peaks in the winter; California peaks in the
summer.

Let's take two scenarios:

1)  The West, less California, is so awash in electricity that even in its
peak--the Winter--it still has power to send to California, i.e., it has so
overbuilt it's system that it has persistent surpluses to sell to California.

Irrespective, there have (to my limited knowledge) always been sales from CA
to the PNW during the winter, when the PNW is peaking.
The only conclusion that one can make, assuming that the PNW is awash in
electricity, is that the PNW takes the power in California because it makes
economic sense to do so. That is, during the winter peaking months, it must
be cheaper on the margin for the PNW to buy from California rather than
produce itself.  Otherwise, it's difficult to understand why it would buy
from California during this month, particularly if they're long.  As such, at
a minimum, the PNW's electric bill will necessarily increase if California
closes its doors.

2) Neither the PNW , nor California, has indigenous capacity to meet peaking
load.  Therefore, the PNW must buy California's power during its peaking
summer period, and California must buy power during it's summer peaking
period.  In this case, not only will the PNW's bill go up if California
closes its doors, the lights are likely to go because they'll be short power.

I realize that this is a simplistic model, and that there could be other
legitimate economic factors driving the flows out of California to the PNW
(e.g., transmission costs).  And again, I also realize that economics may not
have traditionally been a driver in the industry.  But I thought it might be
useful to get a common framework in place as a starting point for the
question that Jim asks.

With that, I'll pose the question (understanding the simplicity of the model
set forth above):  Given that California sends power north--even if the PNW
is long---how can California closing it doors not increase the PNW's cost of
power?

Best,
Jeff

	James D Steffes
	02/28/2001 08:05 AM

		 To: Alan Comnes/PDX/ECT@ECT
		 cc: Jeff Dasovich/NA/Enron@Enron, Mary Hain/HOU/ECT@ECT, Steve
Walton/HOU/ECT@ECT, Susan J Mara/NA/Enron@Enron
		 Subject: Re: Cost of Protectionism

It seems to me that this information leads one to conclude that the value of
an open transmission network is that California does not have to build 5,000
MW of power plant (4,500 MW max input + 10%) in state.  In other words, if
California were to disconnect from the grid, someone would have to build
additional power plants in-state.

The cost to California consumers is therefore the annual carrying cost of 10
500 MW plants (made even more expensive after California expropriates the
current fleet of merchant generation).

From the perspective of the remainder of the West, the question still remains
- if California does go it alone, what is the economic impact?  Other than
legal arguments about Interstate Commerce, why should the Federal Government
want to continue to pursue open acess?  This is the hard question that we
need to answer.

Jim

	Alan Comnes@ECT
	02/27/2001 09:40 PM

		 To: James D Steffes/NA/Enron@Enron, Jeff Dasovich/NA/Enron@Enron
		 cc: Susan J Mara/NA/Enron@ENRON, Steve Walton/HOU/ECT@ECT, Mary
Hain/HOU/ECT@ECT
		 Subject: Cost of Protectionism

Jim, Jeff:

Jim asked me in a voice mail what would be the cost to California of moving
from the current (evolving) system of open access to a "protectionist"
environment where access to the grid would be determined by a political body
responding to populist pressures.

Here are some things to consider.  We can talk more and I welcome Sue Mara or
Steve Walton's input:

California is a net importer so any restraint of trade would risk the state
being able to meet its own demand.  See attached slides that show PNW-CA
trade.  Even in the winter, power on a net basis flows south.

Limiting open access would primarily act to hold in-state generators hostage.
 this will kill incentives for new investment

If the ISO's proposal for market power mitigation are any guide of where a
protectionist ISO would go:
 in-state generators would be required to sell forward or lose their market
based rate certificates
 load serving entities would be required to contract forward for load and a
reserve margin.
  This is costly: it will lead to centralized planning solutions to
reliability rather than more efficient market     outcomes
 Artifical notions of "just and reasonable" rates (on top of unreasonable
reserve requirements) would lead to severe   reliability problems.  (In other
words, if Steve Peace has his way, the imports into the state will drop
off     signficanly)

There is no reason the state would be more effective at expanding the grid
(e.g., Path 15) than the current system.  (Although, admittedly the current
system has flaws.  The CAISO was set up with little thought to transmission
expansion planning.  Other RTOs are not repeating this mistake.).


Attached for your review is a first draft of the Schedule to the ISDA Master
Agreement between Enron Corp. and Lehman Brothers Finance S.A.  Please
contact either Sara Shackleton or myself with any comments.

Stephanie Panus
Sr. Legal Specialist
Enron North America
713-345-3249
stephanie.panus@enron.com


Attached is Transwestern Pipeline Company's Opening Brief which was filed
yesterday.