Concerned Energy Cos Make Few Changes In Enron Dealings
By MARK GOLDEN, KRISTEN MCNAMARA, JON KAMP and JOHN EDMISTON
   Of DOW JONES NEWSWIRES
NEW YORK -- Energy trading companies have concerns about the credit quality of troubled Enron Corp. (ENE), but they have made almost no changes in policies concerning the top trader of North American power and gas, the companies said Thursday.
The concerns have arisen because Enron, which accounts for about a quarter of the trade in the country's power and gas markets, has seen its share price fall by a third this week due to uncertainties about its extremely complex financial structure.
Moody's has put Enron's credit on watch for possible downgrade, and some of the company's debt is trading like junk bonds in the secondary market this week.
"We have made no changes to our credit policy concerning Enron," said John Sousa, chief spokesmann for Dynegy Inc. (DYN). "It's business as usual."
Williams Cos. (WMB) spokesman Jim Gipson said that his company, too, has made no changes and has no concerns about Enron's credit. Another Top 10 power and gas trading company, Aquila (ILA), has also left Enron credit unchanged.
Other companies expressed concern, though they've taken little if any action.
"Like everyone else in the marketplace, we're proceeding with caution," said Lora Kinner, director of credit for Tractebel Energy Marketing, the North American subsidiary of the Belgian company Tractebel S.A.
Kinner said the company is just looking for more information and doesn't expect to make any drastic changes.
Like many utilities, the Public Service Co. of New Mexico (PNM) is "monitoring the situation." So is Aquila, said Mark Gurley, general manager of trading at the company.
"We haven't altered our credit policy at all," Gurley said. But if Enron's credit rating slips, "our tolerances for risk with them would go down," he said.
A trading manager for another energy company said that all energy and financial companies that have dealings with Enron are assessing their exposure. But that manager's company has made no changes and doesn't expect Enron to have cash liquidity problems.
One large firm has been limiting the credit it extends to Enron for the past month. A gas trader with another firm has been encouraged to do more business on other energy trading platforms like the InterContinental Exchange. Enron, however, is far too big to cut off entirely, traders said.
Energy trading companies depend on Enron as the major market maker for their commodities. Enron built the over-the-counter wholesale gas marketplace, and more recently its two-year-old electronic trading platform, EnronOnline, has become a major marketplace for gas and power, accounting for 25% of those markets, according to one recent estimate.
   Enron is the counterparty to every trade on the system.
EnronOnline grew so quickly because of the company's policy
that traders must offer aggressive two-way spreads - both
bids and offers - on the commodities they trade. Any
reduction in EnronOnline volumes could translate to an
immediate liquidity problem for North American power
markets.
"If there is a problem with Enron, there's going to be domino effect through the industry," Tractebel's Kinner said.
Uncertainties about Enron's financial situation have aggravated the volatility of gas futures on the New York Mercantile Exchange, a trader said.
Gas and power traders said that Enron traders are moving to liquidate some positions and, because the company's problems are well known, it is getting squeezed in the market, which would discount the return on positive positions.
Enron traders have few outstanding favors to call on with counterparties, because Enron traders have been so aggressive over the years, the trading manager said.
Analysts have raised questions about Enron's difficulties on a number of conference calls held by other energy companies to discuss their quarterly earnings reports. One of those companies, Sempra Energy (SRE), said it was monitoring the situation but saw little risk so far.
"At this point, there's no reason for concern," Sempra spokesman Doug Kline said. "We continue to trade with them, and they're covering their margins."
-By Mark Golden, Dow Jones Newswires; 201-938-4604; mark.golden@dowjones.com


Daren - What is the status of meter 6387?

AL

Daren J Farmer
10/26/2000 12:52 PM
To: Aimee Lannou/HOU/ECT@ECT
cc:
Subject: Re: meter 6387 & 5192

I created #454057 for the flow at Mtr 5192.  Canny Conner is looking into mtr
6387.  I will let you know when he determines what we will be doing.

D

Aimee Lannou   10/26/2000 10:01 AM

To: Daren J Farmer/HOU/ECT@ECT
cc: Pat Clynes/Corp/Enron@ENRON
Subject: meter 6387 & 5192

Daren - There is flow at meters 6387 & 5192 for Oct. without a nom.

   Deal  contract  Last month of activity Counterparty

 Meter 6387 133179  HPL 215 Sept. 00  Duke Energy Trading

 Meter 5192 269123  ENA 201 Nov. 99   Duke Energy Trading

Thanks.

AL


SIVY ON STOCKS from money.com
June 1, 2001

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In need of a new image

Bristol-Myers is evolving from a consumer-products company to a drug giant.
But investors still haven't caught on.

By Michael Sivy

When you've been plodding along your whole life, it's hard to change your
image -- that's the challenge Bristol-Myers Squibb [BMY] now faces. Most
investors still regard the company as a slow-growth consumer-products
business defined by brand names such as Clairol and Excedrin. But they're
missing something important. Over the past few years, Bristol-Myers has
been repositioning itself as one of the nation's largest pharmaceutical
firms. And when investors catch on, the stock could receive a valuation at
least 30 percent above current levels.

I last recommended Bristol-Myers in September at $53.50 a share. The stock
has always received lower valuations than Pfizer and Merck because it gets
less than three-quarters of its sales from pharmaceuticals. But
Bristol-Myers had been transforming itself, and for a while, it looked as
if it was getting more respect. By January, the share price had risen
nearly 40 percent to top $74. But since then, the shares have given back
almost all their gains. One reason is that the company is posting flat
earnings growth this year. Moreover, several of the company's top-selling
drugs, such as Glucophage for diabetes, are facing competition from
generics, which will force lower prices and eat into market share. Even so,
the long-term outlook for the stock has actually improved.

On May 21, the company announced that it would sell Clairol to Procter &
Gamble for $4.95 billion. That sale will reduce the percentage of
Bristol-Myers' business that comes from consumer products. Even more
important, when the deal closes, Bristol-Myers will have $6 billion in cash
-- four times its total debt outstanding. That cash hoard can be used to
make acquisitions. Pharmaceutical giants are like movie studios -- they're
basically immense distribution systems looking for product. All
Bristol-Myers has to do is revamp its product pipeline with the acquisition
of boutique drug companies or biotech firms, and the stock will suddenly
look a whole lot flashier.

Since it won't be hard for Bristol-Myers to complete its transformation
into a drug powerhouse, without even hurting its balance sheet, you'd think
that investors would be giving the stock more of a premium. At $56.25,
Bristol-Myers trades at 24 times this year's estimated earnings. That's
certainly a fair valuation for a stock with a 12 percent core growth rate
and a 2 percent dividend yield. But if you look not at what Bristol-Myers
has been, but what it so easily could become, you'd think a substantially
higher P/E should be in order.

###

Post your comments on Michael's column at:
http://www.money.com/depts/investing/sivy/index.html

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claendar
----- Forwarded by Steven J Kean/NA/Enron on 12/11/2000 08:19 AM -----

	Andria Stevens@EES
	12/08/2000 05:41 PM

		 To: Thomas E White/HOU/EES@EES, Steven J Kean/NA/Enron@Enron, Robert K
Jones/NA/Enron@Enron, Dan Leff/HOU/EES@EES, Kevin Hughes/HOU/EES@EES, David
Oxley/HOU/ECT@ECT, Karen S Owens@ees@EES, Mark S Muller/HOU/EES@EES, Vicki
Sharp/HOU/EES@EES, Elizabeth Tilney/HOU/EES@EES, Ray Bennett/HOU/EES@EES,
Larry Burton/HOU/EES@EES
		 cc: Karen Owens/HOU/EES@EES, Maureen McVicker/NA/Enron@Enron, Norma
Yeverino/HR/Corp/Enron@ENRON, Kathy Dodgen/HOU/EES@EES, Cathy
Corbin/HOU/EES@EES, Kay Chapman/HOU/ECT@ECT, Judy G Smith/HOU/EES@EES, Leasa
Lopez/HOU/EES@EES, Ruth Ann Brown/HOU/EES@EES, Leslie D
Dever-McCauley/HOU/EES@EES
		 Subject: Friday, December 15, 2000 interview with Kalen Pieper

I have attached the interview schedule/evaluation form and resume for the
Friday, December 15, 2000 interview with Kalen Pieper for the Vice President,
Human Resources position # 106788. Please let me know if this schedule
conflicts with any new appointments, as soon as possible.

Thank you,

Andria Stevens
EES Human Resources


Everyone should have received the e-mail below regarding "The Pulse."  If you
are like me, you probably ignored it or deleted it.  I'm asking everyone in
West Power Trading to go into "The Pulse" and fill out the survey.  It is
easy and takes about 5 minutes.  I just completed it myself in under 5
minutes.  Here's what you have to do:
click on the link below
fill out the three category selections (1) Enron North America / Enron Global
Markets / Enron Industrial Markets; (2) Risk Management and Trading;  (3)
Select Your title.
Fill out the survey -- There were 17 multiple choice questions related to how
well (or not well) the organization is managed.  The next section provides an
opportunity to identify barriers that prevent you from doing your job or
cause you to work longer than you have to;  Finally, it asks for
recommendations, in 100 words or less.

Please take the time to fill this out.  I found it useful.  It is important
for us to hear your voice.  Be honest with your feedback.

Thanks for your help!
Tim Belden
---------------------- Forwarded by Tim Belden/HOU/ECT on 10/20/2000 07:27 AM
---------------------------

	Enron Capital & Trade Resources Corp.

	From:  The Pulse @ ENRON                           10/14/2000 12:38 PM

Sent by: Enron Announcements@ENRON
To: The Pulse mailout
cc:
Subject: IMPORTANT MESSAGE FROM OFFICE OF THE CHAIRMAN

Once again, it's time to find out what you think about your work experience
at Enron and what we can do to help make it better.  That's why we want to
check your pulse.  In fact, we've changed the name of last year's "Excellence
Through Communication" employee survey to The Pulse.  We believe The Pulse
more accurately captures the purpose of the survey.  Your diagnosis will help
us correct problem areas so we can continue to make Enron a great place to
work.

Is available:  Monday, October 16 ) Friday, Oct. 27
Is located at: survey.enron.com

There are a few things we want you to remember about The Pulse:

1. Your survey responses will be confidential.  You can complete your survey
at your desktop or at special computer kiosks that are set up in some of our
larger offices.  Several group computer terminals also will be available in
smaller field offices.  We want to provide you with the most comfortable
environment possible, as your participation is of vital importance to us.
2. We will respond actively to your comments.  We are going to do our best to
cure some of the current problems that exist and put into action preventative
processes that will help identify smaller problems before they become major
ones.  We may ask for your help in resolving some of the issues that are
collected in the survey ) your active role will help us identify the best
solutions.
In last year's survey, you identified several problem areas regarding
internal communications and we've already acted on many of your
recommendations.  These are a few of the things we've accomplished or are
working on in direct response to your input:
1. Require all executives (VP and above) to attend the Executive Impact &
Influence course, which is a 360-degree program designed to improve
leadership and communication skills.  By year-end, more than 90 percent will
have attended this course, with the remaining 10 percent to be trained in the
first quarter of 2001.
2. Offer all employees online communication courses.  These courses will be
available in the first quarter of 2001.
3. Improve our online communication tools, beginning in the fourth quarter,
2000:
   w Simplify and standardize Enron directories
   w Educate all employees about the availability and usage of IT tools.
   w Promote intelligent/responsible use of email.
4. Introduce Participation & Dissent (P&D) sessions to provide a vehicle for
solving problems, addressing issues and developing new opportunities.  This
application will launch in the first quarter of 2001 in the ThinkBank on
eThink.

So take a few minutes to check your pulse and tell us what you think and how
you feel about your job and about Enron.


Marybeth:

My apologies, but Steve's going to be in a meeting with the Governor from
about 1:30 to 3 PM today and then is likely on a plane directly thereafter
returning to Houston.  Likely best to try to arrange the call for tomorrow,
if that works with Laura.  I'll check Steve's schedule and forward the
information to you.

Best,
Jeff

	Joseph Alamo
	05/08/2001 07:44 PM

		 To: Jeff Dasovich/NA/Enron, Steven J Kean/NA/Enron@Enron,
schub@socrates.berkeley.edu
		 cc: Maureen McVicker/NA/Enron
		 Subject: Conference Call Confirmation

Please consider this notice & confirmation of a conference call, per Jeff
Dasovich and Steve Kean,
with Laura Tyson and Marybeth Shubert, Berkeley Business School, as noted
below:

 Date:    Wednesday, May 8th
 Time:  1:30 PM PDT/3:30 PM Central
 Call-in:  1-888-476-3752
 Code No.: 735045
 Jeff only (as host): 780468

Thanks in advance for your participation,

Joseph Alamo
Sr. Administrative Assistant
Government Affairs - The Americas
San Francisco CA
(415) 782-7841

Marybeth Schubert <schub@socrates.berkeley.edu> on 05/08/2001 06:25:37 PM
To: joseph.alamo@enron.com
cc:

Subject: conference call with Steve Cain and Jeff Dasovitch

Joseph:

Laura Tyson and I will be available for a conference call with Steve
Cain and Jeff Dasovitch tomorrow afternoon at 1:30 pacific.  Dean
Tyson will be at the Westin William Penn Hotel: 412-281-7100.  I will
be at 505-820-6721.  I'd appreciate it if you would coordinate
details with Jeff.  Marybeth


Karen,

I was just thinking that maybe Wall Street Journal would be a good source of Brazilian ec. condition and sometimes they report on specific industries too.

Monika

-----Original Message-----
From: Carter, Karen E.
Sent: Friday, August 10, 2001 4:30 PM
To: Bryja, James; Conner, Andrew R.; Dimitry, Dirk; Rickard, Craig; Gurner, Darren
Cc: Crane, Bob; Allan, David; Hernandez, Morela; Juvane, Danilo; Causholli, Monika
Subject: Market Wrap - Brazil

Please find attached the first version of a Brazil Market Wrap which we envision issuing bi-weekly.  The intent is to provide you with a general overview of the currency's value and the prevailing economic environment in Brazil, as well as information relevant to the pulp market.

As we're still in the process of refining our Brazil data, we hope to eventually start publishing some proprietary information on operating rates, FOB cash costs, and prices obtained by individual companies in various geographic regions.  Assuming, that is, our in-house resource is able to obtain this type of information.

We hope that this newsletter will provide information for discussion purposes, and anyone requiring anything further can please feel free to contact those individuals from Fundamentals listed in the report.  If you don't wish to receive this, then please kindly advise me and I will remove you from our distribution list.  Thanks.

Karen


Have you seen the latest edition of Enron Net Works News?   Join us in
welcoming our Global Technology Track employees,  check the "Mercury" on
weather trading systems development, and the "Outlook" on our new messaging
system.  All this and more at http://enn.enron.com.

NOTE:  In the event that you are unable to execute the above link, please
copy the link to the address line of your installed browser.


James,

I didn't see your name on the distribution for this so I'm forwarding it to
you.

Patti
---------------------- Forwarded by Sally Beck/HOU/ECT on 07/10/2000 08:38 AM
---------------------------

Ernie
07/08/2000 07:01 AM
Sent by: Ernie
To: Sally Beck/HOU/ECT@ECT
cc:
Subject: Development Center Class Reminder  - James Scribner

James Scribner is scheduled to attend:

Wellhead to Burner Tip
Class Days and Times:
  7/18/2000  08:00:00 AM - 05:00:00 PM
  7/19/2000  08:00:00 AM - 12:00:00 PM

If James Scribner is unable to attend this class, the registration must be
canceled by 5:00 p.m. on July 13, 2000 to prevent a charge of $ 600 to your
RC number.

Thank you for your support in providing quality and cost effective
development opportunites at Enron.
Please call the Development Center Team at 713-853-0357 if you have any
questions.

 Thank you.


Kathy,

Don't take that deal out until I look at it. I think it is mine but I forgot
to write it in the blue FX book (I only wrote it in my red book).

Thanx,

Chris


---------------------- Forwarded by David W Delainey/HOU/ECT on 07/24/2000
07:33 PM ---------------------------

	From:  David W Delainey @ ENRON                           07/19/2000 03:12 PM

Sent by: Beverly Stephens@ENRON
To: John J Lavorato/Corp/Enron@Enron, Jean Mrha/NA/Enron@Enron, Jeff
Donahue/HOU/ECT@ECT, Timothy J Detmering/HOU/ECT@ECT, Wes
Colwell/HOU/ECT@ECT, Michael C Bilberry/HOU/ECT@ECT, Patrick
Wade/HOU/ECT@ECT, James Coffey/ENRON@Gateway, Brian Redmond/HOU/ECT@ECT, Todd
Busby/NA/Enron@Enron
cc: Kimberly Hillis/HOU/ECT@ect, Melissa Jones/NA/Enron@ENRON, Marsha
Schiller/HOU/ECT@ECT, Susan Fallon/Corp/Enron@ENRON, Shirley
Tijerina/Corp/Enron@ENRON, Lisa Lunz/Corp/Enron@ENRON, Lillian
Carroll/HOU/ECT@ECT (bcc: David W Delainey/HOU/ECT)
Subject: Triple Lutz and Trantula Meeting

There will be a meeting on Wednesday, August 2, 2000 from 9:00 am until 10:00
am in Conference Room EB3321.  We will be discussing the Triple Lutz and
Trantula Projects.  I will look forward to seeing you there.

Thanks
Please mark your calendars for the following meeting:

  DATE:    AUGUST 2, 2000
  TIME:     9:00am - 10:00 am
  PLACE:    EB3321
  DISCUSSION TOPICS:  PROJECT TRIPLE LUTZ
       PROJECT TRANTULA

I will look forward to seeing you there.

Thanks.


Dear Power Outage Database Customer,

Attached you will find an excel document. The outages contained within
are rescheduled outages. Your daily delivery will still contain these
outages.

In addition to the excel document, there is a dbf file that is formatted
like the daily delivery you receive nightly. This will enable you to
load the data into your regular database. Any questions please let me
know. Thanks.

Greg Elliott
IIR, Inc.
713-783-5147 x 3481
outages@industrialinfo.com

THE INFORMATION CONTAINED IN THIS E-MAIL IS LEGALLY PRIVILEGED AND
CONFIDENTIAL INFORMATION INTENDED ONLY FOR THE USE OF THE INDIVIDUAL OR
ENTITY NAMED ABOVE. YOU ARE HEREBY NOTIFIED THAT ANY DISSEMINATION,
DISTRIBUTION, OR COPY OF THIS E-MAIL TO UNAUTHORIZED ENTITIES IS
STRICTLY PROHIBITED. IF YOU HAVE RECEIVED THIS E-MAIL IN ERROR, PLEASE
DELETE IT.

 - OUTAGE.dbf
 - 102201R.xls


Thanks for the note.  We'll need to to discuss this a bit further, since it
could be a very sensitive issue for us (e.g., "Enron's answer to the
electricity crisis in municipalization).  If spun right, could provide an
interesting opportunity, however.

Best,
Jeff

	Robert Davis/Western Region/The Bentley Company@Exchange
	05/04/2001 04:08 PM

		 To: Jeff Dasovich/NA/Enron@Enron, Jeff Ader/HOU/EES@EES, Daniel
Allegretti/NA/Enron@Enron
		 cc:
		 Subject: California SB 23X

Gentlemen,

California State Senator Nell Soto (D-Ontario Dist.32) has authored SB 23 X
which is intended to streamline the formation of public power districts in
California.

Here is an opportunity for Enron to get involved and flex some muscle and win
on several fronts.  I think Enron is uniquely qualified to work with
municipalities to provide private labeled products or services that will
create a winning situation for all parties involved (including the IOUs).

I am extremely interested in working on such an effort and would very much
enjoy sharing my ideas in more detail at any time.  Please feel free to
contact me.

Thanks all,

Robert Davis, Account Manager
Enron Energy Services
611 Anton Blvd. Suite 700
Costa Mesa, CA 92626
Phones:
Office 714-434-1800 ext.455
Cell 714-267-0968
Pager 888-935-2143


Anne also requested this.  Kay young prepared and is emailing a copy to anne.

 -----Original Message-----
From: 	Greenberg, Mark
Sent:	Wednesday, October 31, 2001 1:22 PM
To:	Young, Kay
Cc:	Jones, Tana
Subject:	SunGard Trading & Risk

Kay -

Do we have a CA with SunGard Trading & Risk??

Mark


-----Original Message-----
From: 	Kyser, Ruby
Sent:	Tuesday, October 16, 2001 3:14 PM
To:	Jones, Tana
Subject:	FW: Belco Oil & Gas Corp Merger w/ Westport Resources Corp.

Thought I would check back with you to see if you have had time to address the issue (below) I had forwarded you on the 8th of this month.  I am trying to tie up loose ends on as many open name change issues as I can before I go on vacation.  Currently I am in need of copies of the Secretary of State certificates for the merger and the concurrent name change.  Belco Oil & Gas Corp has quite a bit of exposure and is on Credit Watch; with this in mind I would like to clean this merger up in the database as soon as possible. As I mentioned below, Mr Boigon will only speak to someone from our Legal Department since he feels he has sent ample documentation already.

Please feel free to forward me a name and number if you would prefer I re-direct this inquiry.

Sincerely,

Ruby Kyser
Ext 5-8136
 -----Original Message-----
From: 	Kyser, Ruby
Sent:	Monday, October 08, 2001 2:44 PM
To:	Jones, Tana
Cc:	Johnson, Cheryl
Subject:	Belco Oil & Gas Corp Merger w/ Westport Resources Corp.

Good afternoon, I work with Cheryl Johnson in Global Counterparty doing name changes, acquisitions, and mergers and have run into a minor setback with one of the counterparties:

I received a lead from one of my co-workers that a merger and concurrent name change had occurred involving the above referenced entities.  To follow up on the lead I spoke to Howard Boigon at 303-575-0143, and I requested documentation in the form of copies of Secretary of State documents relevant to the changes.  Mr. Boigon informed me that he had forwarded a DPL Notice to you with a "complete package" detailing the transaction.  He refuses to send anything further until I get with you and find out if what he sent is sufficient; if it is not he has requested that someone from legal call him and explain what we need and why.

Could you please follow up with me on this issue...don't you just love Mondays?!

Ruby Kyser
Ext 5-8136


Peter
got your voice but it was a little late to call. I will call you tonight. But
let me briefly cover the points you mentioned

On insurance I have faxed across our legal opinion on weather. We prepared a
detailed discussion on insurance in a schedule. But the main point is that
there is no  nexus between damage/loss suffered by a party and payments under
the weather derivative.
On access to data Christian Werner in Sydney is researching alternatives. I
was proposing to forward details of these arrangements so they could be
double checked by B &M.
Mark Taylor has been copied in on our documentation (GTCs and product
description form) for Australian weather. We have also been working with Paul
Simon, Edmund Cooper and Justin Boyd in London.

Korea is becoming more of a possibility. Although not settled that we will be
offering these products it is becoming more likely.  Hence we may have some
work there.

---------------------- Forwarded by David Minns/ENRON_DEVELOPMENT on
06/02/2000 05:50 PM ---------------------------

David Minns
05/30/2000 05:13 PM
To: Alan Aronowitz@ECT
cc: Paul Quilkey/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Bruce
Lundstrom/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mark Taylor@ECT, Paul
Smith/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Susan
Musch/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Joseph P
Hirl/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Nicholas
O'Day/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT

Subject: EOL Weather Derivatives - Japan (Legal Advice)

Alan further to our discussion last week. Attached is request for further
advice from Baker and McKenzie on trading weather products with Japanese
counterparties through EOL. As discussed would you forward it to B & M. The
date of the previous advice which indicated there are no regulatory issues
with weather trading needs to be inserted in 2 places. (Would you be able to
send me a copy of this advice.)

We need to have all legal issues resolved prior to 23 June.   This is the
scheduled date for function the public function to launch of EOL weather
trading in Australia .  We plan to trade Tokyo and Osaka   in addition to
Australian cities. There was discussion of  Seoul weather products but this
has not progressed. If it does then will need to do the required due
diligence for Korea.


I talked with Markat SW Gas-just honro his numbers

 -----Original Message-----
From: 	Ellis, Laurie
Sent:	Tuesday, June 19, 2001 11:06 AM
To:	'nancy.frazier@swgas.com'
Cc:	Tholt, Jane M.
Subject:	FW: Deal 763736

Nancy, can you please reconfirm with Mark the price for the gas at Bondad?  My trader is supporting her price of SJ Bondad GDP rather than SJ Non-Bondad GDP.

Thanks

Laurie Ellis
Enron Net Works LLC
Client Services
Phone: (713) 345-9945
Fax:  (713) 646-8420
Email:  laurie.ellis@enron.com

 -----Original Message-----
From: 	Tholt, Jane M.
Sent:	Tuesday, June 19, 2001 11:01 AM
To:	Ellis, Laurie
Subject:	RE: Deal 763736

actually -for volumes flowing out of bondad-which is deal number 763736 price is bondad gda;for blanco-deal number 759933-price is nonbondad gda
 -----Original Message-----
From: 	Ellis, Laurie
Sent:	Tuesday, June 19, 2001 10:18 AM
To:	Tholt, Jane M.
Subject:	Deal 763736

Jane, on deal 763736 for May 01 sales to Southwest Gas, we have a pricing discrepancy.  Our system reflects SJ Bondad GDP but SWG is going to pay us based on SJ Non-Bondad GDP.  Can you please confirm which price is correct and make the change in Sitara if necessary?

Thanks

Laurie Ellis
Enron Net Works LLC
Client Services
Phone: (713) 345-9945
Fax:  (713) 646-8420
Email:  laurie.ellis@enron.com

 -----Original Message-----
From: 	"Nancy Frazier" <Nancy.Frazier@groupwise.swgas.com>@ENRON
Sent:	Tuesday, June 19, 2001 9:46 AM
To:	Ellis, Laurie
Subject:	May

Sorry about the flooding.  Hope you and your family survived ok.  Attached are the gas settlement and support for May.  The only difference we had was for package V02.  Mark Anderson says that even though Bondad gas flowed, the price was Non-Bondad.

Have a great day.  Nancy

 - ENRON.XLS << File: ENRON.XLS >>
 - enrongss.xls << File: enrongss.xls >>


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

The NYISO is reserving hour beginning 18:00 in the October 23, 2001
Real-Time Market as well as the following hours per ECA 20010608B to verify
prices:

HQ:  6:00, 7:00 and 14:00
OH:  6:00, 7:00 and 14:00
NE:  6:00, 7:00 and 14:00
PJM: 6:00, 7:00 and 14:00

Prices in the October 24, 2001 Day-Ahead Market are correct.

This e-mail information is a copy of the official posting which can be
found at the following address of our website:
http://mis.nyiso.com/public/htm/OperMessages/CurrentOperMessages.htm#mm


Virginia,

Please reserve a spot for me at the Pig Out Luncheon on 3/15.

Thank you.

Daren


Joceyln,

I've had a change in my schedule today and I won't drop off the check in person.  I deposited the Enron check in my bank account this am on my way to work (to make sure I get the cash before any bankruptcy filing) and will have a personal check couriered over to your office.

Unless you instruct otherwise, I will make the check out to Salomon Smith Barney and put the caption FBO Shelley Corman in the Memo line of check.  Let me know if an account number should appear on the check.

Thanks


Memorandum from Mary Nell Lovett  attached.
 - Memorandum.doc


Jana,

Would it be possible to provide me with a list of all analysts working within
ENA (along with their current assignments)?

Thank you.

	From:  Jana Giovannini                           10/04/2000 05:47 PM

To: Scott Neal/HOU/ECT@ECT
cc:
Subject: Re: Analyst request

Let me know what you think after you have contacted them so we can move
forward with placement in your group.  Thanks.

Scott Neal
10/04/2000 05:20 PM
To: Jana Giovannini/HOU/ECT@ECT
cc:
Subject: Re: Analyst request

Thank you for sending.

	From:  Jana Giovannini                           10/04/2000 03:43 PM

To: Scott Neal/HOU/ECT@ECT
cc:
Subject: Analyst request

I received your needs request and hopefully you have seen the resumes that
were forwarded to you earlier today.  Please let me know if you did not
receive them.  Thanks.
---------------------- Forwarded by Jana Giovannini/HOU/ECT on 10/04/2000
03:41 PM ---------------------------

	From:  Ted C Bland                           10/04/2000 10:23 AM

To: Jana Giovannini/HOU/ECT@ECT
cc: Jennifer Milligan/HOU/ECT@ECT, Jeanie Slone/HOU/ECT@ECT
Subject: Analyst request

Jana - Can you help Scott out with his request.  Thanks.  Ted
---------------------- Forwarded by Ted C Bland/HOU/ECT on 10/04/2000 10:12
AM ---------------------------

Jennifer Milligan
10/04/2000 09:06 AM
To: Ted C Bland/HOU/ECT@ECT
cc: Jeanie Slone/HOU/ECT@ECT
Subject: Analyst request

Ted,

Jeanie and I met with Scott Neal (VP Gas Trading East Desk)  yesterday and he
mentioned that he needs an Analyst as soon as is possible.  Should I contact
Jana Giovannini or do you send her our request?

Thanks,
Jennifer


Dudes.....

Can you guys forward your home addresses to my home email?

jmiller79@houston.rr.com

I'd appreciate it!!!

Jeff


---------------------- Forwarded by Valarie Sabo/PDX/ECT on 03/08/2001 09:01
PM ---------------------------
From: Valarie Sabo on 02/07/2001 01:01 PM
To: Matt Motley/PDX/ECT@ECT, Mike Swerzbin/HOU/ECT@ECT, Tim
Belden/HOU/ECT@ECT, Mark Fischer/PDX/ECT@ECT, Tom Alonso/PDX/ECT@ECT, Sean
Crandall/PDX/ECT@ECT, Diana Scholtes/HOU/ECT@ECT
cc:
Subject: transmission valuation in portcalc

We have deals 470788, STSW
146517, LTNW
205218, LTWTRANS
426855 LTSW

which are transmission deals.  The correlation for these are contained in the
West Correlation file in M/power2/region.  The correlation for these delivery
points and basis points don't match what Houston's RAROC  office has.

Please review the attached spread sheet and email me the correlation you want
to use for valuing the tranny deals.  As soon as we agree on the correlation
and change them in West Correlation and/or RAROC, I'll re-run the mini-books,
and we can release the deals into mark to market as we want.

(Matt's correlation have already been reviewed but not yet changed, you're
done Matt.)

Please let me know if you have any questions or points of discussion.  If you
could respond by Monday, Feb 12, that'd be good.  Thanks!


I will assume you de' man on this one.

jporte1@columbiaenergygroup.com on 03/20/2000 03:04:17 PM
To: "        -         *Scott.Goodell@enron.com" <Scott.Goodell@enron.com>,
Chris Germany/HOU/ECT@ECT
cc:
Subject: New Contract on Transco

AGL just sent me a copy of an existing contract on Transco that has been
converted to a new type of contract. I assume this is one that is released to
us for their Choice program. Who should get the copy and could you please give
me a fax number?

Jeff


----- Forwarded by Jeff Dasovich/NA/Enron on 04/09/2001 05:51 PM -----

	Michael Tribolet/ENRON@enronXgate
	04/09/2001 05:25 PM

		 To: Vicki Sharp/HOU/EES@EES, Mike D Smith/HOU/EES@EES, Travis
McCullough/HOU/ECT@ECT, Elizabeth Sager/HOU/ECT@ECT, Richard B
Sanders/HOU/ECT@ECT, James D Steffes/NA/Enron@Enron, Richard
Shapiro/NA/Enron@Enron, Greg Whalley/HOU/ECT@ECT, John J
Lavorato/ENRON@enronXgate, Susan J Mara/NA/Enron@ENRON, Jeff
Dasovich/NA/Enron@Enron
		 cc:
		 Subject: FW: PGE Bankruptcy motions

fyi
 -----Original Message-----
From:  "JOHN G KLAUBERG" <JKLAUBER@LLGM.COM>@ENRON
[mailto:IMCEANOTES-+22JOHN+20G+20KLAUBERG+22+20+3CJKLAUBER+40LLGM+2ECOM+3E+40E
NRON@ENRON.com]
Sent: Monday, April 09, 2001 5:01 PM
To: Tribolet, Michael
Cc: CARL A. EKLUND; JAMES L. HUEMOELLER
Subject: Fwd: PGE

Michael:  as you know, one of my SF bankruptcy partners, Ben Young, attended
the PG&E hearing today.  Here is a quick synopsis.  Could you please
distribute as appropriate.  John

==============================================================================
This e-mail, including attachments, contains information that is confidential
and may be protected by the attorney/client or other privileges.  This
e-mail, including attachments, constitutes non-public information intended to
be conveyed only to the designated recipient(s).  If you are not an intended
recipient, please delete this e-mail, including attachments, and notify me.
The unauthorized use, dissemination, distribution or reproduction of this
e-mail, including attachments, is prohibited and may be unlawful.

==============================================================================
Content-Transfer-Encoding: quoted-printable
Date: Mon, 09 Apr 2001 15:46:25 -0400
From: "BENNETT G. YOUNG" <BYOUNG@LLGM.COM>
To: ceklund@llgm.com, "JOHN G KLAUBERG" <JKLAUBER@LLGM.COM>, "JAMES L.
HUEMOELLER" <JLHUEMOE@LLGM.COM>
Subject: PGE
MIME-Version: 1.0
Content-Type: text/plain; charset="us-ascii"
Content-Disposition: inline

I attended the hearings on PGE's two cash collateral motions today.  Both
were granted on an interim basis.  The court set a final hearing for May 9 at
9:30 am.  PGE is to file its pleadings by April 20 and any opposition is due
by May 4.

The bondholder cash collateral motion was heard first.  There was no
opposition and the bond trustee (Bank of New York) consented to the relief.
BONY and PGE are working on a final cash collateral stipulation.

Next was the gas supplier motion.  PGE mentioned in its presentation that the
basis of the pre-petition agreement was the waiver of termination rights in
the event of bankruptcy by the suppliers in return for a security interest in
the receivables.  Jim Lopes, PGE's lawyer, mentioned that he had learned a
great deal about Bankruptcy Code section 556 in the last few months.  Judge
Montali nodded his head at that comment.  Montali also asked whether PGE
conceded that 556 applied.  Lopes answered that he did not concede that it
applied, but he was "very concerned."

I asked whether the post-petition security interest was available to
suppliers that were not parties to the pre-petition agreements.  The Court
said that was up to PGE; Lopes said they were willing to talk about it, but
they did not want to grant liens to all of their creditors and hoped
creditors would rely on their administrative claims, which PGE believes will
be paid in the ordinary course.  Procedurally, the Court said it would not
authorize any new security interests on the basis of the interim order
resulting from today's hearing.  Instead, that would have to be the subject
of a separate motion with notice, and perhaps coujld be taken up at the final
hearing.
P
 GE also indicated that it is filing today a lawsuit against the CPUC seeking
a TRO regarding a deadline of April 11 for the filing of certain advice
letters.  A hearing is tentatively scheduled on the TRO for 3 pm tomorrow,
April 10.

There was also discussion of various administrative matters, like scheduling
hearings, entering a case management order, etc.

A representative of a consumer group, the Coalition for Public Power, read a
statement asking Judge Montali to rollback rates and to force PGE's parent to
pay the utility's debts.  The Judge let them speak, but made it clear that it
was not an action item, and seemed generally to ignore them.

The courtroom was packed with attorneys, journalists and members of the
public.  After the hearing, the reporters all descended upon the attorneys
for PGE and the CPUC.  The courtroom is in an office building in SF's
financial district; there were probably ten TV cameras set up on the sidewalk
as well as several protesters carrying signs.

Please call me if you have any questions.

Bennett G. Young
One Embarcadero Center, Suite 400
San Francisco, California 94111
(415) 951-1167
byoung@llgm.com


The following info was provided to me by Leah Moss at Tetco.

Meters 71979 and 71980 are on non-contiguous laterals.  Tetco doesn't know
how this gas flows.  They are still checking into this one.  It may actually
flow into CNG.,

Meters 72554 and 72803 are "normal" Tetco M2 meters.  This gas is a backhaul
to Winridge and Hooker [make sure you use the backhaul contract] and a
forwardhaul to Delmont and Oakford.  The forwardhaul fuel is 4.11%.


----- Forwarded by Jeff Dasovich/NA/Enron on 03/07/2001 11:28 AM -----

	"Daniel Douglass" <Douglass@ArterHadden.com>
	03/07/2001 11:27 AM

		 To: <Barbara_Klemstine@apsc.com>, <Bob_Anderson@apses.com>,
<Vicki_Sandler@apses.com>, <berry@apx.com>, <dcazalet@apx.com>,
<billr@calpine.com>, <jackp@calpine.com>, <Ken_Czarnecki@calpx.com>,
<gavaughn@duke-energy.com>, <rjhickok@duke-energy.com>, <gtbl@dynegy.com>,
<jmpa@dynegy.com>, <jdasovic@enron.com>, <susan_j_mara@enron.com>,
<Tamara_Johnson@enron.com>, <curt.Hatton@gen.pge.com>, <foothill@lmi.net>,
<camiessn@newwestenergy.com>, <jcgardin@newwestenergy.com>,
<jsmollon@newwestenergy.com>, <rsnichol@newwestenergy.com>,
<nam.nguyen@powersrc.com>, <Curtis_L_Kebler@reliantenergy.com>,
<rllamkin@seiworldwide.com>
		 cc:
		 Subject: GAO Investigation

On Monday, 2 March 200, U.S. Representatives Jay Inslee and Peter Defazio
(OR-04) requested that the investigative arm of Congress research whether
energy producers have been "gaming the market" and unfairly jacking up energy
prices in the Western United States.  "My constituents have seen huge
increases in their energy prices, and I have seen some reports suggesting
that energy producers have deliberately withheld energy from the market in
order to drive prices even higher.  I am requesting that the GAO investigate
this possible market manipulation, and determine whether these reports are
accurate," said Inslee.

Following is text of the Congressmen's letter to the General Accounting
Office:

March 5, 2001

David Walker
Comptroller General of the United States
General Accounting Office
441 G Street NW
Washington, DC 20548

Dear Mr. Walker:

We are writing to request that the General Accounting Office (GAO)
investigate whether power shortages and the subsequent skyrocketing energy
prices in California, which has had serious ripple effects throughout the
Western United States, was due to market manipulation by energy producers.
We are concerned about allegations that energy producers have been
manipulating the market by pulling generators offline for no justifiable
reason, thus creating an artificial scarcity of energy in order to drive up
prices.

The apparent energy shortages in the Western United States will undoubtedly
raise issues as to whether we as a nation change our policies toward
developing our energy resources and whether we change the manner in which we
currently operate Federal hydroelectric facilities.  For example, many
elected officials have used the energy crisis as an argument to drill for oil
in the Arctic National Wildlife Refuge, and to open for oil and gas
exploration millions of recently protected National Forest lands.  To answer
these important policy questions which will be considered in the House
Committee on Resource, a committee on which we both sit, we believe that we
must have an accurate understanding of the causes of the current energy
crisis.

We recognize there are many contributing factors to the current energy
crisis, including high natural gas prices, a lack of generation and
transmission capacity, and California's failed effort to deregulate its
energy market.

While the economics of supply and demand lead to the conclusion that the
scarcity of generation in California has contributed to the high energy
prices, it is not clear why there is such a scarcity.  Many analysts point to
such variables as inadequate water supplies and the need for increased
maintenance as the cause for so much generation unexpectedly being taken
offline in California.  According to information we have seen, however, these
factors do not come close to fully explaining the scarcity of energy supplies
in California.

For example, it is our understanding that in an absolute low water year,
California has more than 45,000 mW of generating capacity available.
According to the Western Systems Coordinating Council (WSCC), the entity to
which all power generators in the West are required to report their power
availability, California has been importing more than 2,000 mW of power,
while recent peak demand in California on those same days has hovered around
only 30,000 mW.  While almost 10,000 mW of this 17,000 mW difference is duly
accounted for as being offline either through planned or unplanned
maintenance, there is apparently about 4,000 to 8,000 mW of potential
generation in California which is not online for reasons that remain
unexplained.

Meanwhile, prices for wholesale electricity have been going through the roof,
with some generators and marketers of energy in California earning record
high profits.   These energy companies have insisted they are operating their
generators at maximum capacity and are not manipulating the market by pulling
generation offline.  We have read evidence to the contrary.  For your
reference, we have enclosed a report by the private consulting company
McCullough Research Group, and a research paper by Massachusetts Institute of
Technology economics professor, Mr. Paul Joskow.

The Federal Energy Regulatory Commission (FERC), the federal agency
responsible for ensuring that energy costs are "just and reasonable," has
studied the energy crisis in the West.  As you may know, while FERC concluded
that energy prices in California are not "just and reasonable," based on a
preliminary inquiry, they determined there is insufficient evidence of market
manipulation as a contributing factor to the high prices.

Given independent reports that are at odds with FERC's conclusions, we are
concerned FERC has not done an adequate job in its investigation of possible
market manipulation.  Therefore, we request that you:

Compare the methodology used by FERC with that of Professor Joskow.

Determine whether or not the FERC methodology and investigation were thorough
enough to determine whether generating capacity has been withheld without
legitimate reason.

Analyze whether California's deregulation of its electric utility market
created a regulatory environment in which a small number of energy generators
or marketers are more easily able to manipulate power prices by withholding
generation.

Thank you for investigating this matter. Due to the time critical nature of
this issue, it is our hope that your office can make this investigation a
high priority.

Sincerely,

JAY INSLEE
Member of Congress

PETER DEFAZIO
Member of Congress


---------------------- Forwarded by Kate Symes/PDX/ECT on 02/20/2001 04:03 PM
---------------------------

Anna Symes <annas@cobs.edu> on 02/20/2001 10:10:28 AM
To: "'Kate.Symes@enron.com'" <Kate.Symes@enron.com>
cc:

Subject: RE:

What up dude!

I haven't heard from you in awhile, so I thought I would remind you that you
have a sister and she lives in Colorado and she has no friends and no life
and one psycho roommate and is therefore desperately in need of sane
conversation/gossip through which she can live vicariously.  How's it going?
Are you feeling better?  Is the roommate situation improving?  Mine is SO
not.  And to add to the drama, lonesomeness has once again driven me into
the arms of a man with whom I undoubtedly have no future.  He launched a
surprise attack on Valentine's Day - when my guard was obviously down.  Yes,
it's still the colorblind starbucks guy.  We were just going to go out for A
drink, but 9 vanilla stoli and cokes later we were making out like teenagers
in a prom limo.  Even his baby poop green blazer-style leather jacket had
started to look like an acceptable outerwear addition to his camel-colored
wide-whale corduroy and pumpkin orange sweater ensemble.  It was madness.
So anyway, I shacked, and unfortunately now a precedent has been set, so now
I pretty much spend most of my day coming up with various believable reasons
for not spending the night at his house.    It's been almost a week so I
think he's starting to suspect something.  Little does he know that by the
time this whole debacle is over, he will wish he had never heard the name
"Anna Symes".  He's great and fun and everything, and yet I feel that
familiar desire to kill this relationship - and not just kill it, but shoot
at it and kick it in the head even after it's dead.  Think I have issues?

Other than that, not a lot happening over here.  I like my new job, although
right now it's really dead and I find myself wondering what I'm supposed to
be doing a lot of the time.  I have been playing phone tag with Monica, but
I think I might start stalking her a little more intensely as I am in
desperate need of some friends.  Actually, starbucks guy and I had an
interesting conversation about this last night.  I have been feeling so down
lately, and I finally realized that this move was a million times harder
than London or Argentina were because I am literally starting from scratch
in the social department.  Michelle is scary and therefore does not count as
a source of moral support or even pleasant conversation.  I'm trying to see
this as a positive thing, like a challenge to see if I can be happy without
the network of people I have always had around me.  I know it's not the
Peace Corps or anything, but it's still kind of scary.  Anyway, that's my
deep thought for the week.  I'm sure soon enough I'll be crying yet once
again about how I want to come home, but for now I'm great (I think!).

By the way, have you heard Ben Lee (singer)?  He Claire Danes' boyfriend, so
you may have heard of him before.  Anyway, you have to check him out - he's
awesome!  The cd I like the best has the word hurricanes or volcanoes or
something in the title (sorry, I can't remember exactly).  It's a good
feel-good cd.  So let me know how it's going out there in P-town, and when
are you coming to visit?  Okay, love you, miss you, etc.!

Besos,
Anna

-----Original Message-----
From: Kate.Symes@enron.com [mailto:Kate.Symes@enron.com]
Sent: Friday, February 02, 2001 1:42 PM
To: annas@cobs.edu
Subject: Re:

Hey there - I'm so sorry I haven't responded until now. I've been swamped
with work, moving, and now the flu. Whoo, hoo! So, as far as gossip is
concerned, I'm all dried up for now. I was going to go on a company ski
trip this weekend, but I feel so crappy I can't even imagine being outside,
let alone surrounded by snow and wind at the same time. I imagine you're
totally used to that by now, but keep in mind your weather is accompanied
by sun and not eternal grayness.

Our house is coming along nicely. Molly and I already want to boot Amber
out, but that's okay. We deal with it by laughing about her antics whenever
possible - behind her back or in front of her face. It really helps us out,
and I think it does wonders for her ego too. Work is work. The weather is
foul! Men are too. I don't even have one prospect at this point. Of course
there's always the innocent, fleeting crushes from a distance; but I've got
to admit I hardly even have the energy for those anymore.

I hope you can make it home for a visit soon, because you are going to LOVE
our house. I will definitely keep my eyes peeled for cheap tickets to
Denver, or maybe I'll just do the train and take a long weekend. Either
way, I'll definitely make it there by springtime. Tell me about your jobs,
friends (or not?), and life in general. I'm going to get back to work and
hustle so I can get out of here early and suffer peacefully at home. I'll
give you a call from my sick bed, 'kay?

Take care,
Kate


Here is Harley's address.

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

----- Forwarded by Debra Perlingiere/HOU/ECT on 06/04/2001 09:57 AM -----

	John M Singer@ENRON
	06/04/2001 06:57 AM

		 To: Debra Perlingiere/HOU/ECT@ECT
		 cc:
		 Subject: Re: Harley

Harley Drilling & Producing LTD
   9923 Avon Lake Rd
   Burbank, OH  44214

  PH:  330-948-1054
  FX:  330-948-5102

DEBRA PERLINGIERE@ECT
06/01/2001 04:57 PM
To: John M Singer/Corp/Enron@ENRON
cc:

Subject: Harley

Do you have an address to send Harley's copy of the agreement back to?

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


I finished the walk through of the 15th floor space located at 1201 Louisiana this afternoon.  On the walk through with me were Paul Foust (facilities), Robert Humlicek, Jeffrey Vincent and Andrew Hawthorn.  I previously talked with Deborah Bubenko and Vincent Fox about this space.  Comments from the review are as follows:

Most of the floor is composed of offices with some large group areas (conference rooms etc.) included.  The floor can accommodate up to 150 people.  However, with this amount of people in the area, space will be VERY tight. Almost all offices will need to hold at least two people.  Large offices will need to hold three or four.  The larger areas will need to have cubicles installed to make complete use of the space.  With maximum doubling up in the offices, you might fit a couple of conference rooms on the floor with one kitchen area.  There are nooks just off some of the hallways that would accommodate several network printers.

As Tommy stated in his earlier e-mail on the Allen center space, the fire code will require us to put a strobe in each office with multiple occupants.

One area of concern is the amount of furniture currently on the floor.  The floor plan shows approximately 90 desks on the floor.  Some offices were locked so we could not verify the total.  However,  this number appears correct.  Also, for the most part, there were only desks in the offices unless they were occupied.  Chairs, filing cabinets, credenzas, etc. would needed to be added to this space.  We need to determine where the additional furniture will come from.

There is one large area with 11 cubicles forming a circle.  According to Paul, this was the area where telephones were answered for the previous tenant.  This might work for the trading area.  The room appears to have the most telephone connectivity, is open, and would accommodate up to 11.

If we decide trader telephones are necessary (record conversations etc.), the cost associated with the purchase of the equipment and the necessary installation time will need to be factored into our schedule.

The floor has two data closets.  At least one of the closets has 24 hour air conditioning according to Vincent.

This floor has the same server connectivity at the Three Allen Center space.  A 100 meg single mode fiber connection serves this space.

Robert has informed me that the floor currently has switches to support up to 200 ports.  However, this does not mean that the drops to all offices are complete.  Probably some cabling will need to be added.  It appears that the space can accommodate up to 150 users even with the extra ports needed for network printers, laptops, etc.  However, if we need to accommodate more than 200 ports, additional switches can be added.

In summary, the floor space at 1201 Louisiana looks as good or better than the space that was being considered at Three Allen Center.

Russell S. Long
Enron Net Works, LLC
russell.long@enron.com
(713) 345-3754


We have received an executed Master Agreement:

Type of Contract:  ISDA Master Agreement (Multicurrency-Cross Border)

Effective Date:   February 12, 2001

Enron Entity:   Enron North America Corp.

Counterparty:   Grupo Industrial Saltillo, S.A. de C.V.

Transactions Covered:  Approved for all products with the exception of:
Foreign Exchange

Confirming Entity:  Enron North America Corp.

Governing Law:   Texas

Copies will be distributed

Cordially,
Susan S. Bailey
Enron North America Corp.
1400 Smith Street, Suite 3806A
Houston, Texas 77002
Phone: (713) 853-4737
Fax: (713) 646-3490
E:mail:  Susan.Bailey@enron.com


Phil:

I was just checking to see when we would execute the amendment to the
Security Agreement (to permit the rehypothecation of securities).  Please let
me hear from you.

Regards,

Sara


I want the penalty billed and let them challenge it.


I just came from the House Ag. Committee where the interested parties have
congregated throughout the negotiations today.  Title I and Titles II are
closed, which include the energy/metals exemption language. Tom Briggs and I
have reviewed the latest draft (minus any changes made in pen by the staff)
and the language critical to Enron titled "Legal Certainty for  Certian
Transaction in Exempt Commodities" is identical to that passed out of the
House.  This is satisfactory to us.

We hope and expect (Speaker Hastert has commited to doing so) to have this
included in the final end of the year omnibus appropriations legislation.
Congress will likely vote on this legislative package on Friday.

This could all come unraveled at this late date, but we are cautiously
optomistic (George W's words yesterday afternoon...so maybe a good omen).

Chris and Tom

----- Forwarded by Chris Long/Corp/Enron on 12/13/2000 05:58 PM -----

	Stacy Carey <SCAREY@ISDA.ORG>
	12/13/2000 01:15 PM

		 To: US REGULATORY COMMITTEE <USREGCOMM@isda.org>
		 cc:
		 Subject: CEA Legislation

Negotiations between Treasury Department and Senator Gramm last evening and
this morning resulted in substantial progress on the CEA legislation.
However, certain drafting issues remain open and final sign-off by all
parties has not been obtained.  In a conference call this morning the
Treasury Department cautioned that there are open points on almost every
title but that progress had been achieved.

Draft language is currently circulating between Senator Gramm, Treasury
Department and the House Agriculture Committee.  All parties are working to
achieve final language as soon as possible this afternoon in order for the
final CEA package to be attached to a final spending package which is likely
to be considered by Congress tomorrow.

Please call (917)543-9622 if you have any questions or if you would like to
discuss further.

Stacy


The article deals with the Cal ISO credit risk and the effect on power
prices.  This is on the Enron web site.
Maybe we work this into the talking points response?

       Reliant Energy: Selling Pwr To Cal ISO Could Be Risky
       Of DOW JONES NEWSWIRES

       Dec. 11, 2000
       Dow Jones Energy Service
       (Copyright (c) 2000, Dow Jones & Company, Inc.)

       (This article was originally published Friday) By Mark Golden

       LAS VEGAS (Dow Jones)--BC Hydro's concerns about the California
Independent System Operator's credit have spread quickly this week
       to other suppliers, forcing the grid operator to pay premium prices
when it can't find electric supplies, Reliant Energy's (REI) vice president
       for western U.S. trading, Reggie Howard, said Friday.

       Suppliers are concerned about the ISO's financial guarantees from the
investor-owned utilities, for whom it buys: Edison International (EIX),
       PG&E Corp. (PCG) and Sempra Energy (SRE).

       PowerEx, the power marketing unit of provincial utility BC Hydro,
demanded letters of credit from the utilities for ISO purchases this week.
       Edison complied, while PG&E refused. Sempra said that the state of
California should make the guarantee as part of a declared state of
       emergency.

       Reliant is looking at the ISO credit issue, but so far has demanded no
such letters of guarantee, Howard said.

       Other risks in selling to the ISO include the possibility that state
politicians will tell the ISO not to pay its bills.

       "when you have state Sen. Steve Peace telling San Diego residents not
to pay their electric bills two months ago, you worry about what
       might be said to the ISO. There are political risks," Howard said in
an interview with Dow Jones Newswires. Peace, a democrat from the
       San Diego area, is chairman of the California Senate Budget Committee.

       Suppliers also risk that prices on sales to the ISO could be reviewed
by the Federal Energy Regulatory Commission anytime 24 months
       after the transaction occurs, under the proposed FERC order on
California. Prices could be lowered retroactively, and refunds from the
       suppliers could be ordered. Sales to other western utilities face no
such review.

       Taken together, these risks have forced the ISO to pay a premium of at
least 10% more than market prices, according to several traders
       attending the Day of the Trader industry conference in Las Vegas
Thursday and Friday.

       "It could be 5% or 20%. We have a number, but we won't disclose it
because that's proprietary," Howard said.

       Reliant, which has 3,800 megawatts of generators in California, has no
plans to build any more plants in the state. The company is
       building a plant in Nevada, just east of the California border. The
optimal location for any new plant, Howard said, is near California, but not
       inside the state.

       Howard said that Reliant isn't looking for offers to sell its
California plants, but if a good offer came up, they would consider it.

       -By Mark Golden, Dow Jones Newswires; 201-938-4604;
mark.golden@dowjones.com


I show the fixed price of $4.78.Switched to GDA on the 10th.


Yes, such as the side letter, assignments, etc.  That may be about it, but I
don't trust my memory.  Since there is so much to do in such a short time,
lists help!

Thanks,

Kay

"Thompson, Peter J." <peterthompson@akllp.com> on 11/14/2000 03:11:43 PM
To: <Kay.Mann@enron.com>, <ppiptone@andrews-kurth.com>
cc:

Subject: RE: ABB

Yes.  I will get these out to you either late tonight or early tomorrow.
With regard to your earlier request for a closing list for moving the
Turbines out of the West LB Agreement, what are you referring to that
was not included in Chris Cobb's memo yesterday?

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Tuesday, November 14, 2000 3:58 PM
To: ppiptone@andrews-kurth.com; Thompson, Peter J.
Subject: ABB
Importance: High

Paul/Peter,

Me again.  I have a meeting with ABB for Thursday.  Could you make me a
list of issues like you did with the GE contract (removing the comments
from the text), and blackline the new clean "commentless" version
against
the original master contract.

Thank you,

Kay


Hi Sara:
My email to Anna came back to me?!?
Kristina

>From: POSTMASTER@ecmta1.enron.net
>To: krifisher@hotmail.com
>Subject: Undeliverable message
>Date: Sun, 22 Apr 2001 20:32:53 -0700
>
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>To: anna_jansson@enron.net
>Subject: on line application
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>Hi Anna:
>
>My name is Kristina Fisher I received your email from Ms. Sara Shakleton in
>Houston. She informed me that you had recommended me to complete the Enron
>online application. I just wanted to confirm with you that I have now done
>so. I had an error message during one phase of the profiling section at the
>end so please let me know if it did not come through.
>I look forward to hearing from you.
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I would like to meet today, preferably this morning to discuss the attached form and the status of the various gas books.  If you have any questions, please ask.

Melissa, please set a meeting up as soon as possible today.

Regards,
Ed

 -----Original Message-----
From: 	Miller, Don (Asset Mktg)
Sent:	Monday, February 04, 2002 6:17 PM
To:	McMichael Jr., Ed
Subject:	FW: new form A

This is gas.  Are you okay with it?  Please review in the A.M.

 -----Original Message-----
From: 	Hlopak, Ed
Sent:	Monday, February 04, 2002 2:49 PM
To:	Miller, Don (Asset Mktg)
Subject:	FW: new form A

For your approver.

Ed Hlopak
Sr. Project Manager
Enron Wholesale Services Estate Management
713-345-9363 (office)
713-417-4412 (cell)

 -----Original Message-----
From: 	Wilson, Shona
Sent:	Monday, February 04, 2002 8:54 AM
To:	Thapar, Raj
Cc:	Hlopak, Ed
Subject:	FW: new form A

Do we want to go over this with Fallon again or just send it to E&Y?  This is the first one I have received since requesting that interco be pulled out.

Regards

 -----Original Message-----
From: 	Keiser, Kam
Sent:	Friday, February 01, 2002 3:02 PM
To:	Wilson, Shona
Subject:	new form A

Shona,

Here is our updated form A without intercompany deals.  Included on the last two tabs are the details they asked for from gas.

We are still working on the contracts and confirms.

Thanks

KK


Debra,  Please work these terms into a GTC for the Mexico deal.  ASAP

----- Forwarded by Gerald Nemec/HOU/ECT on 05/30/2001 10:22 AM -----

	Russell Diamond/ENRON@enronXgate
	05/30/2001 10:13 AM

		 To: Barry Tycholiz/ENRON@enronXgate
		 cc: Gerald Nemec/HOU/ECT@ECT
		 Subject: Mexicana de Cobre- Physical Credit W/S

Please see attached a credit worksheet as requested.

Thanks
Russell

 -----Original Message-----
From:  Tycholiz, Barry
Sent: Wednesday, May 30, 2001 9:13 AM
To: Diamond, Russell
Cc: Nemec, Gerald
Subject: RE: Mexican de Cobre -Deemed ISDA Credit Worksheet

Russell, pls set up credit terms for customer for transactions under the
physical, which may include pricing amemdments. i.e. the MTM risk may sit
under the physical agreement.

At this time, we are not going to pursue the execution of a deemed ISDA and
any price amendments will be handled physicaly.

Call if there are any questions.

BT

 -----Original Message-----
From:  Diamond, Russell
Sent: Tuesday, May 29, 2001 1:07 PM
To: Leite, Francisco Pinto
Cc: Tycholiz, Barry; Nemec, Gerald
Subject: Mexican de Cobre -Deemed ISDA Credit Worksheet

Francisco,

Attached is a credit worksheet for a draft deemed ISDA.

Thanks
Russell

 << File: Mexicana de Cobre_ENA.xls >>


Attached is an Order issued last night.

 - NJ00-6.1


Have you met her

 -----Original Message-----
From: 	Parks, Joe
Sent:	Monday, February 25, 2002 3:21 PM
To:	Hayden, Frank
Subject:	RE:

dont know, sorry

 -----Original Message-----
From: 	Hayden, Frank
Sent:	Monday, February 25, 2002 3:20 PM
To:	Parks, Joe
Subject:	RE:

What is Lynnette's last name?

 -----Original Message-----
From: 	Parks, Joe
Sent:	Monday, February 25, 2002 3:18 PM
To:	Hayden, Frank
Subject:	RE:

Lynnette		310-789-2317

 -----Original Message-----
From: 	Hayden, Frank
Sent:	Monday, February 25, 2002 3:15 PM
To:	Parks, Joe
Subject:

Do you know anyone at Cook Inlet?  My analyst is looking for work on west coast


Sounds interesting, and Scottsdale is supposed to be nice.  Enjoy!

	From:  Sheila Glover                           04/20/2000 12:07 PM

To: Sally Beck/HOU/ECT@ECT, Gary Hickerson/HOU/ECT@ECT
cc: Kelly Templeton/Corp/Enron@ENRON, Patti Thompson/HOU/ECT@ECT, Theresa T
Brogan/HOU/ECT@ECT, Laurel Adams/HOU/ECT@ECT, Clara Carrington/HOU/ECT@ECT
Subject: Goldman Sachs CFO Conference

I will be out of the office on May 9 and 10 attending a Goldman Sachs CFO
Hedge Fund Conference in Scottsdale, AZ.

Theresa, Laurel and Clara are in.
Sheila


Please mark your calendar for a mandatory staff meeting with Kevin Presto tomorrow, Oct. 24th from 4- 5pm in room 30c1.

Thanks

T.Jae Black
East Power Trading
Assistant to Kevin Presto
off. 713-853-5800
fax 713-646-8272
cell 713-539-4760


I don't know how this asset management deal works on demand charges.  Could you give me a demand charge report out of Unify please?

 -----Original Message-----
From: 	Fletcher, Brenda H.
Sent:	Monday, November 19, 2001 2:51 PM
To:	Germany, Chris
Subject:	TETCO Demand - Nov production

The spreadsheet for Nov. does not have any demand expense listed for Tetco. The Service P/L report shows demand cost on contracts 895829 and 895835, deal numbers 1146868 and 1146936.

Do you need to update spreadsheet?

Thanks,
BF


Don't miss our special eSpeak on Tuesday, August 29 at 10:00 a.m. Houston
time.  Dr. Ben Gilad has been hailed by Business Week and Fortune as one of
the greatest minds in the field of Competitive Intelligence. Please join him
for a discussion about Competitive Intelligence and what it means to Enron.
If you can't make the live event, be sure to pre-submit your questions on the
eSpeak site.

Join the competitive intelligence fervor:  On Tuesday 8/29, check out the new
look and feel of the Edge and catch Dr. Ben Gilad, CI guru, on eSpeak.
The Edge - Click it today.

Creativity and Innovation are back in full force.  Go to eMeet to participate
in the recently re-launched Creativity and Innovation dialogue.


As you all may know, we have scheduled a conference call for the group for
Thursday, Oct. 19.  Bernadette called each of your assistants, so it should
be on your calendars.

As a brief update prior to our call:

We have a phone call in to FERC to check on the procedural status of the
merger.  Donna Fulton, my colleague in Washington, has many contacts at FERC
and is working with those people to learn what she can about the status of
our proceeding.

Joanne is supposed to be meeting with Bob Wasson at the SEC (along with Bill
Weedon) early next week to get a sense of where the SEC is on the case.

Per Rick's suggestion, I have asked another colleague of mine in Washington,
Chris Long, to help us decide who would be the appropriate person to make
contact at the SEC if we decide to make that contact.  Chris is working with
some political operatives on this.

We have been working with Portland General and Sierra on their RTO filing.
As you may recall, a commitment to join an RTO (Regional Transmission
Organization) is one of the things FERC will require of the merging parties.
An RTO filing will be made at FERC on October 23.  While RTO progress has
been good so far, Sierra and PGE have indicated that they may have concerns
with the RTO they are working with (the Northwest RTO).  We are working with
Sierra and PGE to make sure that they do not do anything in the RTO
proceeding that could cause concern for FERC regarding the companies'
commitment to join an RTO.

There was some question about the status of a temporary services company
being created by the merged company.  Joanne has been working with the Sierra
and PGE people on this issue and does not see this as being a problem now,
but I have asked her for confirmation that this "alternative" type of service
company arrangement will not delay the SEC proceeding.  I am waiting for a
response from Joanne.

Please let me know if you have any questions.

Sarah


Michelle,

Thanks for the quick turnaround on the draft contract for Dan Reck.  Mark
Frevert, Mike Mcconnell and I had several conversations today about this
issue.  I have left a detailed voice mail for Mark outlining the target
amounts, and will wait to hear back from him (by tomorrow) before presenting
this to Dan.

Regards,

Jeff


Due to VAR reasons, you and I  both need to sell today.  Vol and price are
going up, implying Enron can carry fewer contracts today than Friday.  Have
your desk net sell 400 today.
John


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 09/29/2000
04:12 PM ---------------------------

Robert Johnston
09/29/2000 03:05 PM
To: Vince J Kaminski/HOU/ECT@ECT, Mike A Roberts/HOU/ECT@ECT, Ted
Noble/HOU/ECT@ECT, Scott Tholan/Corp/Enron@Enron
cc: Gary Hickerson/HOU/ECT@ECT
Subject: Hickerson/EGM Knowledge Management

Following our meeting with Gary today, Scott and I prepared the following
work plan.  Hopefully, this reflects the conversation and planning in today's
meetings.
Please send comments and revisions.

Cordially,

Robert Johnston
Manager, Political & Sovereign Risk
Enron North America
713-853-9934


Dave,
Willis Philip and I are scheduled to arrive in Albany around 2:45 PM on Oct. 15.  That should give us time to meet you there by 4 pm, however, if we should be delayed I will give you a call.  I appreciate you taking time to show us around your facilities.

Furthermore, we can all meet together when you come on the 22nd.  That should enable us to cover all the issues without redundancy.  I will talk to with Juan to firm up the exact meeting hours so that we can have an agenda for the day.

Paul

 -----Original Message-----
From: 	devanoski@nyiso.com@ENRON [mailto:IMCEANOTES-devanoski+40nyiso+2Ecom+40ENRON@ENRON.com]
Sent:	Monday, October 01, 2001 11:07 AM
To:	Thomas, Paul D.
Cc:	FFrancis@nyiso.com
Subject:	Re: Virtual Bidding Course

Paul,

As we discussed in our recent phone call, my recommendation is to attend
the course, because the level of detail will be far greater than we in the
Customer Relations department can provide. I have tentatively reserved a
conference room at the Power Control Center for 4 pm, on Oct. 15th if you
are able to make it. I've also invited  F. Francis to join us. Please let
me know if you will be able to meet at 4pm, or some later time.

Also, I spoke with Juan Padron this morning and firmed-up our plans for
Frank and I to visit you in Houston on the 10/22. We will plan to be in
Houston for whatever hours are convenient to meet with you and Juan on that
day. I suggested to Juan that if there are any issues that you would like
us to address during the visit, just let us know ahead of time so that we
may prepare.

Thanks,
Dave

                    Paul.D.Thomas@
                    enron.com            To:     IMCEANOTES-devanoski+40nyiso+2Ecom+40ENRON@ENRON.com
                                         cc:
                    09/28/2001           Subject:     Virtual Bidding Course
                    09:55 AM

Dave,

I have signed up for Virtual Bidding course in Albany for October 16.  I
was wondering if would be worthwhile to attend to course since you and
Frank are coming to Houston the next week.  Basically, do you think that
you can give us the same information that the course would while you are
here?  Please let me know.

Thanks,

Paul D. Thomas
Enron Wholesale Services
East Power Trading
(713) 853-0403

**********************************************************************
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
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All, Ron asked that I set up a conf. call to discuss some of the Southern Trail issues.

Conf. call Name:  Southern Trails
Call In Number:  877-795-3687 pin 358397
Date/Time:  Nov. 13th at 1:30 pm CST
Host:  David Roensch
We have 6 ports reserved

Please contact the OCC at 402-398-7773 if you have difficulty dialing in...


Please increase Consumer's delivery from 10,605 to 11,205 effective 2/23-29.

Call me on 703-561-6497 if you have any questions.

Thanks.


To All:

Recently, Mark asked me to focus efforts on putting together a technology
plan for the Legal Department.  Attached for your information is a draft of
the proposed plan.

As you will see, the central goal of the plan is to enhance our position as
essential members of the business team by providing - through the
implementation of available technology tools  - efficient means of enabling
our clients to meet their business objectives.  The plan attempts to meet
this overall goal through three different, but related phases, each of which
can be implemented independently.  Timing of implementation and dedication of
resources have not been formally addressed as the plan is only in its infant
stages; however, it is Mark's goal to rapidly move forward with certain
portions of the plan.

It is my understanding that a meeting will be scheduled for next week some
time to review and discuss the proposed plan.  Prior to that meeting, if any
of you should have any comments, questions or ideas, please do not hesitate
to let me know your thoughts.

Mark
Senior Counsel, ENA
Phone:     713-345-8897
Facsimile: 713-646-3940
E-Mail:      Mark.Greenberg@enron.com


We have another new addition to the Portland West Desk.  Beginning today,
Craig Dean has joined the Real-Time Trading group.

Prior to Enron, Craig worked as a statistics Intern at US West, a Financial
Advisor with H&R Block, and most recently, as a Financial Advisor at Morgan
Stanley. He is a '96 graduate of Washington State University with a degree in
Accounting and Finance.

Please welcome Craig to our Portland Office!


FYI.  Please note that the pricing to Peoples will be under a netback arrangement and has changed from its original proposal.  However, it will be for the same original volume of 30,000 mmbtu/day from the 30 wells.  Enron only has to schedule from 3 meters, not 30 wells.  As such, the inital pricing of $.01/ mmbtu no longer applies.

Regards, Jean
 -----Original Message-----
From: 	Grass, John
Sent:	Thursday, April 26, 2001 11:37 AM
To:	Mrha, Jean
Subject:

Linda Roberts, George Smith and I had a meeting with Rick Fox, CFO for Peoples Energy Production (PEP).  Rick provided our group with a detailed description of the services required by PEP. The scope of services has changed.  The 30 wells we originally priced all feed into three common points reducing the work required by logistics.  PEP does not need access to our system.  ENA Upstream will be marketing all the supply under a net back arrangement.

Enron Producer One will include ENA and ATS.   ENA will provide monthly reports to PEP and ATS related to the metered volumes and prices.  ATS will provide the E&P revenue distributions back to PEP.

We will be making our proposal to PEP on Monday April 30, 2001.


---------------------- Forwarded by Hunter S Shively/HOU/ECT on 08/15/2000
12:31 PM ---------------------------

George Hopley
08/15/2000 12:02 PM
To: Hunter S Shively/HOU/ECT@ECT
cc:
Subject: Nuke

Please see attached sept nuke schedule


That sounds great. Just let me know when you guys are ready to run the test
upload. I can validate the deals and help work out any glitches, although it
sounds like everything will go smoothly.

Thanks for all your hard work on this - having the swaps automated will make
my job much easier. Now you can kick back and relax before you make my job
obsolete!

Kate


This is a test.


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Jay,

the factor change has completed, go to the rpt_west_formulas table and make changes in Factor column where necessary,
run the following:

	O:\Fundy_Ops\IT\Report\West Summary\EXE\westsummary.exe

see if the result is what you want. Let me know.

Yan


Mike
Pls discuss with Mark Tawney.  Under the revised EGM structure for weather we
need to revisit theintended arrangement.
Thnx
Paul

	From:  Mike A Roberts @ ECT                           10/04/2001 04:59 AM

To: Christian Werner/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Vince J Kaminski/HOU/ECT@ECT, Paul
Quilkey/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mark Tawney/Enron@EnronXGate

Subject: Model Effort in Houston

Christian,

Our Spring/Fall window of "<nactivity"is rapidly eluding us...

We need to get our internal model operational without delay.

Along these lines, let's go ahead and plan your visit to Houston as soon as
possible,
but by all means get you in at least 4 weeks before hurricane season.

That would mean the month of May looks good.

Please inform me what duties you could not perform from here to support the
Sydney office,
we'll figure out how to keep that office whole.

(it's working without a hitch to have Steve Bennett in London, but continuing
his Houston duties)

If the first week in May (for the whole month) will work, please respond asap
and we'll get housing arrangements finalized.

Looking forward to your visit,

- - - Mike


Hi gang.  We still need to make some changes to Sea Robin.

I believe we need 2 pricing zones, Mainline Pool and Offshore.  The new Sea
Robin curve will be used to value the Offshore zone and we will use CGLF/La
curve to value everything else.  Per my discussion with Christine, the
following meters should be moved/mapped to the Offshore zone;

Meter
4743
4747
4741
4754
4771
4753
4794
4728
4700
4749
4751
9740
6335
6333
4794
4700
4850
ISRP84
FSRP3
2SRP9

Please let me know what I need to do or if anyone has any questions.

	From:  David Oliver                           05/08/2000 01:42 PM

To: Chris Germany/HOU/ECT@ECT
cc:
Subject: Re: Sea Robin Well Head Curve

Chris,

Here is the thread on the Sea Robin Curve

Dave

---------------------- Forwarded by David Oliver/HOU/ECT on 05/08/2000 01:41
PM ---------------------------
From: David Oliver on 05/03/2000 08:19 AM
To: Imelda Frayre/HOU/ECT@ECT
cc: William Kelly/HOU/ECT@ECT
Subject: Re: Sea Robin Well Head Curve

I think the best thing to do would be to create a separate zone for all of
those ISRP meters.  The traders typically take deals from ISRP to the Pool
and incur transport.  Therefore having two zone would more accurately
represent what is actually happening.

I am in London helping Brent Price with some audit work that he is doing.

David

Imelda Frayre

05/03/2000 08:07 AM
To: David Oliver/HOU/ECT@ECT
cc: William Kelly/HOU/ECT@ECT
Subject: Re: Sea Robin Well Head Curve

Well, whenever we map specific meters on a zone to curves that are different
than what the entire zone is mapped to, we create an alternative facility
mapping for each specific meter that you want mapped differently.  Currently,
there are 137 active meters on the Sea Robin Pool zone with a prefix of
ISRP.  That would mean I would have to create 137 alternative facility
mappings.  Another alternative would be to have all of those meters moved to
their own zone and then just create one mapping for that whole zone.
However, this will also take a great deal of time, since Global Facilities
would have to change the zone on every single facility record.  Plus, we
would have to see what type of activity is on all of these meters and we
would have to update the zone on all of these deals after Global Facilities
made it's change.  So, let me know what your thoughts are.  What are you
doing in London???

Imelda
---------------------- Forwarded by Imelda Frayre/HOU/ECT on 05/03/2000 07:58
AM ---------------------------
From: David Oliver on 05/03/2000 07:54 AM
To: Imelda Frayre/HOU/ECT@ECT
cc: William Kelly/HOU/ECT@ECT
Subject: Re: Sea Robin Well Head Curve

Imelda,

I am in London right now, and dont' have access to a phone.  The only part of
Sea robin that should be moved are the meters with a prefix of ISRP.  I'm
sorry if that wasn't clear.  Please let me know if that will be a problem to
fix.

David

Imelda Frayre

05/03/2000 07:47 AM
To: William Kelly/HOU/ECT@ECT, David Oliver/HOU/ECT@ECT
cc: Karie Hastings/HOU/ECT@ECT
Subject: Re: Sea Robin Well Head Curve

David, Sea Robin Pool is a zone on the Sea Robin Pipeline (SEAR).  The Sea
Robin Pool zone includes many different meters some of which do have a prefix
of ISRP.  However, there are also other meters in that zone that have the
following prefixes: LSRP, FSRP and PSRP.  I mapped the entire zone to the new
curves you sent us.  Given your message it seems like things might not be
peachy after all if you only wanted the ISRP meters mapped that way.  Please
call me as soon as you get a chance.

Imelda Frayre
x35423
---------------------- Forwarded by Imelda Frayre/HOU/ECT on 05/03/2000 07:38
AM ---------------------------
From: David Oliver on 05/03/2000 02:40 AM
To: William Kelly/HOU/ECT@ECT, Imelda Frayre/HOU/ECT@ECT, Karie
Hastings/HOU/ECT@ECT
cc:
Subject: Re: Sea Robin Well Head Curve

I am not sure if Searobin ISRP is a meter level location or Zone level, but
as long as only Sea Robin Pool ISRP locations are mapped to the new curve,
then everything will be peachy.

David

To: David Oliver/HOU/ECT
cc:
Subject: Re: Sea Robin Well Head Curve

Dave - they called me on this to see if it was a meter mapping or a zone
mapping.  I said zone.....

KARIE HASTINGS
05/02/2000 05:31 PM
To: William Kelly/HOU/ECT@ECT
cc:
Subject: Sea Robin Well Head Curve

---------------------- Forwarded by Karie Hastings/HOU/ECT on 05/02/2000
05:29 PM ---------------------------

	From:  David Oliver                           04/28/2000 04:10 PM

To: Imelda Frayre/HOU/ECT@ECT, Karie Hastings/HOU/ECT@ECT
cc: Alicia Perkins/HOU/ECT@ECT, Crystal Hyde/HOU/ECT@ECT
Subject: Sea Robin Well Head Curve

Imelda and Karie,

The East desk traders have asked me to set up a new curve for the Sear/Sea
Robin Pool/ISRP zone.  The curve is already set up in Erms.  Please do your
sitara voodoo to map the above location to this new curve.

Pipe Zone   Intramonth  Mid  Gas Daily
SEAR Sea Robin Pool/ISRP      IF-Searobinwh IF-Colgulf/LA
GDC-Searobinwh


---------------------- Forwarded by Chris Germany/HOU/ECT on 01/24/2000 08:51
AM ---------------------------

	From:  Colleen Sullivan                           01/24/2000 08:20 AM

To: Steve Jackson/HOU/ECT@ECT, Mark Friedman/HOU/ECT@ECT
cc: Chris Germany/HOU/ECT@ECT
Subject: CES Booking of Transport--annuities to desk

I'd like to set up a meeting with the two of you (and whoever else you think
needs to be there) to go over the booking of various deals.  For example,
Dayton P&L--we pay out to them a big demand charge each month, but the desk
should be getting an annuity payment back.  Where will they see this in their
p&l?
CALP is another example.  Are you two available Tuesday around 12:00 to
discuss?

I will make sure someone from the East Desk is there as well.  If there are
any in the Central Region that are like this, let me know and I'll round up
someone from that desk, too (unless you think they already know how theirs is
working).

Thanks.


You have probably heard this already, but on July3, the CPUC postponed their
direct access decision until mid-August.

Dan Leff@EES
07/02/2001 07:15 AM
To: Steven J Kean/NA/Enron@ENRON
cc: Peggy Mahoney/HOU/EES@EES

Subject: Re: Customers

Steven J Kean@ENRON
06/30/2001 07:24 AM
To: Dan Leff/HOU/EES@EES, Peggy Mahoney/HOU/EES@EES
cc:
Subject: Customers

You may want to forward this to your customers.
---------------------- Forwarded by Steven J Kean/NA/Enron on 06/30/2001
07:23 AM ---------------------------

Scott Govenar <sgovenar@govadv.com> on 06/28/2001 04:51:56 PM
To: Hedy Govenar <hgovenar@govadv.com>, Mike Day <MDay@GMSSR.com>, Bev Hansen
<bhansen@lhom.com>, Jeff Dasovich <jdasovic@enron.com>, Susan J Mara
<smara@enron.com>, Paul Kaufman <paul.kaufman@enron.com>, Michael McDonald
<Michael.McDonald@enron.com>, Rick Shapiro <rshapiro@enron.com>, Jim Steffes
<james.d.steffes@enron.com>, Alan Comnes <acomnes@enron.com>, Steven Kean
<Steven.J.Kean@enron.com>, Karen Denne <kdenne@enron.com>,
"Harry.Kingerski@enron.com" <Harry.Kingerski@enron.com>, Leslie Lawner
<Leslie.Lawner@enron.com>, Robert Frank <rfrank@enron.com>, Ken Smith
<ken@kdscommunications.com>, Janel Guerrero <Janel.Guerrero@enron.com>,
Miyung Buster <Miyung.Buster@enron.com>, Jennifer Thome
<Jennifer.Thome@enron.com>, Eric Letke <eletke@enron.com>, Mary Schoen
<Mary.Schoen@enron.com>, David Leboe <David.Leboe@ENRON.com>, Ban Sharma
<ban.sharma@enron.com>
cc:

Subject: Customers

The California Chamber of Commerce received a call from someone at the
CPUC who requested that they send as many customers as possible to
testify at Tuesday's hearing in favor of direct access.   The Chamber
has requested the same thing of Enron.


Phillip -- Is the value axis on Sheet 2 of the "socalprices" spread sheet
supposed to be in $?  If so, are they the right values (millions?) and where
did they come from?  I can't relate them to the Sheet 1 spread sheet.

As I told Mike, we will file this out-of-time tomorrow as a supplement to our
comments today along with a cover letter.  We have to fully understand the
charts and how they are constructed, and we ran out of time today.  It's much
better to file an out-of-time supplement to timely comments than to file the
whole thing late, particuarly since this is apparently on such a fast track.

Thanks.

	From:  Phillip K Allen                           12/13/2000 03:04 PM

To: Christi L Nicolay/HOU/ECT@ECT, James D Steffes/NA/Enron@ENRON, Jeff
Dasovich/NA/Enron@ENRON, Joe Hartsoe/Corp/Enron@ENRON, Mary Hain/HOU/ECT@ECT,
pallen@enron.com, pkaufma@enron.com, Richard B Sanders/HOU/ECT@ECT, Richard
Shapiro/NA/Enron@ENRON, Stephanie Miller/Corp/Enron@ENRON, Steven J
Kean/NA/Enron@ENRON, Susan J Mara/NA/Enron@ENRON, Rebecca W
Cantrell/HOU/ECT@ECT
cc:
Subject:

Attached  are two files that illustrate the following:

As prices rose, supply increased and demand decreased.  Now prices are
beginning to fall in response these market responses.


Here was the communication that went out most recently.  Hope that helps.

 -----Original Message-----
From: 	Enron Announcements/Corp/Enron@ENRON   On Behalf Of Corporate Benefits@ENRON
Sent:	Wednesday, November  14, 2001 9:07 PM
To:	All Enron Employees United States Group@ENRON
Subject:	SAVINGS PLAN TRANSITION PERIOD ENDS For All Employees who Participate in the Enron Corp Savings Plan

The Savings Plan Transition Period Ends Early!

We have been working closely with Hewitt Associates to get you access to your Savings Plan account before November 20 and are pleased to announce that the internet site went live as of 8:00 AM yesterday morning, November 13.

Log on to benefits.enron.com and check out the new website - you will enjoy the new features.

Once again, we have appreciated your patience during the transition period.

EnronBenefits . . . keeping pace with your lifestyle.


Rod,

We need to make sure Enron Treasury understands the $300 million plus of NEPCO cash will have to flow back in the next year.  I have been involved in two situations where some smart people in the treasury functions did not really understand this impact. There is more cash to come from the projects, but for the most part that represents the profits and that cash will not really be ours until we have cleared the retainages and LOC's. If we can get a couple of new projects in NEPCO, we might be able to sustain the balance, but nothing is secure at this time.

Keith


ok wiseguy, what the hell is an npvcd (why do i have the sinking feeling that
i'll be sorry that i asked?).


Louise,

I would not take a $10MM hit on the Mitsubishis right now - we have just started to market these and there seems to be some interest (even if it appears to be flaky).  If we forced a QIII sale (drop dead date - you are fired if it doesn't happen), I think we might lose as much as $10MM - $20MM.    Although I am not comfortable with our  overall  turbine position, I am comfortable with our current approach.   ABB liquidity is more of a concern even though it is a significantly smaller exposure.

Regards,

Chris Calger
503-464-3735

 -----Original Message-----
From: 	Kitchen, Louise
Sent:	Monday, August 06, 2001 11:41 AM
To:	Calger, Christopher F.; Wiggs, Brett; Jacoby, Ben
Subject:	Thoughts post turbine meeting

Is there any possibility of negotiating a way out of the Mitsubishi contracts by paying them a fee.  I know we have no cancellation charge but can we just say we will pay them $10mm to cancel the contracts?  If we could do we want to do this?

How much money would we lose (how much of a write down would we take) if I told you I wanted to get rid of the turbines by the end of September?

As an aside, the Mitsubishis will be leaving the Enron Americas Balance Sheet now and moving to EGAS.  This does not and should not however change anything in terms of how we are moving forward.  For the company overall, we need to move these turbines (as with all the others) as soon as possible and we (in the Americas) are in a much better position than EGAS is to move them.  I have spoken to Jim on this issue who is obviously in agreement with the way forward.

Louise


Please get me Pat Wood's phone number and post a reminder on my calendar to
call him ASAP


MEMORANDUM

TO: Regulatory Affairs Committee
       Power Marketers Working Group

FROM: Jim Steffes, Regulatory Affairs Committee Chair
            Bob Reilley, Power Marketers Working Group Chair
            Julie Simon, Vice President of Policy
            Erin Perrigo, Manager of Policy

DATE: November 14, 2001

RE: Second Draft of EPSA Leave-Behind on Market-Based
      Rate Authority
      ?Conference Call on Friday, November 16th at 11:00 AM
       (EST)

On Friday, November 2nd EPSA held a conference call to discuss the second draft of our leave-behind on market-based rate authority, which details our position on possible changes to FERC's market-based rate authorization standard and the Commission's recently released staff report outlining several alternatives to the currently used hub-and-spoke method.

Please review the attached draft, which has been extensively revised since the November 2nd call.  An investigation on market-based rate authorization has been noticed for next week's FERC meeting agenda, which makes it important that we come to closure on these issues.  We have scheduled a conference call on Friday, November 16th at 11:00 a.m. (EST) to discuss this draft.  To access the call, please dial 1-800-937-6563.  Ask for the Erin Perrigo/EPSA Call. If you have any questions, comments or edits before the call, please contact Erin Perrigo at 202-628-8200 or eperrigo@epsa.org.

Attachment


Is the notice the only change?  If so, it looks ok to me.


Guys, Power Systems has given me a proposal to replace the New Albany and
Doyle 7B burners.  This could possibly have two benefits:
 a) elimination of the possibly tainted equipment given current patent issues
they are having with GE and
 b) apparently the newer technology significantly reduces the Nox emission
correlating into increased operating hours.

I need two things to determine if we want to move forward:
 a) Mark we need to be bullet proof on the patent (or lack thereof) issues on
the new equipment and that it would protect us from further exposure and
 b) Mitch, Kevin, Mike and Bob, I need your technical and commercial opinions
on the merits of this proposal (ie) do you as a team support this proposal?

I believe the timing on this is rather short. Please get back to me at your
earliest convenience. I will forward a copy of the proposal to each of you.

Regards
Delainey