Bryan:  Please fax to me with you initials as I'm having a very difficult time finding signers today and whoever signs will want to read you memo.  My fax number is 713-646-3490.  Thanks.

Also, I'm thinking about the ENA signature.

 -----Original Message-----
From: 	Seyfried, Bryan
Sent:	Thursday, December 13, 2001 5:39 AM
To:	Shackleton, Sara
Cc:	Cooper, Edmund
Subject:	memo as requested

 << File: BS Memo (13 December 2001).doc >>


CALENDAR ENTRY:	APPOINTMENT

Description:
	TMS Weekly Mtg. Conference room EB4102

Date:		1/24/2001
Time:		1:30 PM - 3:00 PM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


flat.  i had  my lowest var in over a year this morning

 -----Original Message-----
From: 	Fraser, Jennifer
Sent:	Friday, July 20, 2001 2:50 PM
To:	Arnold, John
Subject:

are u short again opr still flat to long?


***BELOW ARE SUMMARIES OF THE HELPFUL FERC STAFF INVESTIGATIONS LEAD BY SCOTT
MILLER (WHO REPORTS TO DAN LARCAMP) -- BOTH WILL JOIN THE ENRON EXECUTIVES AT
LUNCH THURS. 12/7.
-
MIDWEST AND SOUTHEAST SUMMARIES

On 11/1/00, FERC Staff issued reports on its Investigation of Bulk Power
Markets in the Eastern Interconnection.  These reports were the result of a
Commission order earlier this summer.  Enron's Federal regulatory staff
(Christi, Charles Yeung, and Sarah Novosel) provided a great deal of
information for this investigation and Joe Hartsoe and Donna Fulton discussed
many of the problems with the grid with the new head of Staff, Scott Miller
(who recently joined FERC from PG&E Gen).    While the Commission is under no
obligation to take any of Staff's recommendations, the Commission typically
looks to Staff for guidance on transmission and market issues.  Importantly,
Staff concludes that the Commission should consider these options for the
Southeast and Midwest -- all of which Enron has been asking FERC to implement
for several years:

Reduce the advantages of network service over point to point service by
requiring that native load be served under the same tariff as other
transmission services to eliminate the current incentives that VIUs have to
favor their native load through the calculation of ATC and handling of
interconnection requests.

While the Staff Hotline is used productively, the Commission can direct Staff
to conduct formal investigations into entities that have a pattern of
complaints.

The Commission could require TPs to submit tariff provisions containing a pro
forma interconnection process specific to interconnection, rather than simply
relying on the Tennessee Power order that utilizes the OATT timelines and
procedures.

Require TPs to retain real-time transmission data on market functions
pertaining to daily load, internal generation to meet that load, and imports
and exports.

RTOs should submit the basis and methods for calculating ATC and TTC, as well
as standardized criteria for curtailment.  In addition, since even such
standardized criteria might not "get to the root of the problem" -- that
control area still control generation -- the Commission could require that
each RTO set a date certain by which it will create one control area.
Regardless of the implementation of these two options, the Commission could
standardize ATC and TTC methodology.

Staff finds that while electricity is a commodity with market characteristics
similar to many other commodities, it is still viewed as "different," with a
reaction of price caps.  Staff encourages that basic decisions about the
regulatory model be made in order to complete the transition from a
traditional cost-of-service model to a model that uses markets to price the
commodity and services.

DETAILS  (Also, the reports contain good summaries of the generation,
transmission, state retail, federal reg. and other issues for the region):

Midwest:  The Midwest is dominated by vertically integrated Transmission
Providers ("TPs") that control transmission, generation and load.  "As such,
they have weak economic incentives to provide access to transmission service
to third-parties and strong incentives to favor their own services."  Staff
received numerous complaints; however, due to the lack of information
available from TPs, Staff cannot conclude whether these are isolated
incidents or wide-spread.  At the very least, the complaints indicate a lack
of confidence in the bulk power market and the ability of market participants
to rely on transmission access, thus harming the liquidity of the market.

TLRs are the most important transmission issue in the Midwest, with an
"enormous" increase in 2000.  The region showed a decline in peak load from
1999 to 2000 and a growth in new generation since the 1998 price spikes.
Even though there was an increase in generation and mild weather with
virtually no price spikes, TLRs climbed to record numbers.  The TLRs were
highly concentrated:  only 5 flowgates account for 41% of ECAR TLRs and
another 5 flowgates in MAIN account for 42% in that region.  Notably, even
though the NERC procedures for Level 3 TLRs mandate transaction curtailment,
78 of the 191 TLRs in the Midwest do not show any curtailment amount.  The
total amount of relief that these curtailments are intended to produce are
not posted.  Staff notes that TLR rules are established by NERC, whose
procedures are voluntary and not enforced by penalties.  While the Commission
has required certain NERC standards and procedures to be placed in Open
Access Transmission Tariffs ("OATT") where the Commission has the power to
enforce provisions under the Federal Power Act, in practice the Commission
has generally deferred to NERC on transmission reliability questions,
including the propriety of TLRs.

TLRs inhibit optimal functioning of the transmission system and market
because load is not served by the least cost supplier.  TLR procedure is an
inefficient instrument in mitigating constraints -- curtailment by fiat.  In
addition, the NERC IDC can result in inappropriate curtailments or increased
loading on the affected flowgate.  The impact could be mitigated by one
control area per RTO.

Staff notes that the Midwest state commissions did not petition FERC for
price caps following the 1998 price spikes.  Some market participants believe
that the absence of price spikes is the single reason that NUG construction
increased in the Midwest.

Market participants must keep track of, and follow, a plethora of information
in order to make energy deals, submit reservations and provide schedules for
service.  Staff received many complaints about barriers to transmission
access, including TLR curtailments and a lack of standardized information and
protocols, particularly for ATC and interconnection requests, and
discriminatory conduct.  Unbelievably, key data was unavailable to Staff,
such coincident peak load data, system-wide snap shots for days when TLRs
were called, and import/export data.  This lack of data creates a market
inefficiency, because neither market participants nor regulators can fully
analyze market conditions in real time.  As such, the market is risk adverse,
eschewing long-term deals for short-term transactions.  Staff also noted that
because the Security Coordinators often work for the IOU, there is a mixed
incentive to enforce reliability on the grid and maximize profit for the
IOU.  (Staff cites Richard Tabors' paper, "Transmission Markets, Stretching
the Rules for Fun and Profit.")

Staff cites the lack of information on OASIS or on the NERC web site,
particularly about real time TLRs and curtailments.  Examples were provided
to Staff of transmission refusals when there were no TLRs posted and improper
implementation of TLRs causing substantial financial loss.

The currently proposed Midwest RTOs may mitigate some problems; however, all
three retain existing control areas with the favortism for generation and
native load.  These incentives will continue to remain until the RTO
exercises complete autonomy over transmission control and security
coordinator functions.  Staff notes that the Midwest is a balkanized region
of 61 control areas with no uniform method for calculating ATC and CBM.  The
result is that ATCs can be different on 2 different sides of an interface.
Staff notes examples in inaccurate ATCs and states that Staff's own ATC audit
this summer was consistent with market participant complaints.  Staff is
weighing follow-up options.  The result of these problems is a lack of
liquidity.

Staff next noted the problems with unfiled "business practices," especially
on the next hour market.  Staff's audit of OASIS sites revealed several areas
of non-compliance.

Information transparency is necessary for a market to function efficiently,
with equal and timely access to data, including ATC, CBM, TRM, and load flow
input data.  TPs have incentives to resist efforts to make this information
transparent because of native load.  This incentive will still exist under
RTOs if utilities are allowed to calculate their own ATC.  ***  "As a
consequence, the Commission may wish to eliminate the native load exemption
and have all transactions under the same tariff."  ***  The Commission could
benefit by having access to existing transmission data and should require the
TPs to retain data, including current real-time network status.

Interconnection Issues:  IPPs need to be compensated for VAR support.  Also,
Staff cites a number of Hotline complaints about TPs seeking large deposits
or failing to complete System Impact Studies timely.  One solution is to have
the RTO handle this function to eliminate the disincentive the utilities have
against IPPs.  The current practice of requiring IPPs to deal with a wide
variety of procedures inhibits the free flow of transactions within the
region.

Network service has inherent advantages over point-to-point, citing the
Entergy source and sink order.  The Commission has relied on "passively"
receiving informal and formal complaints to determine if discriminatory
behavior has occurred rather than actively canvassing market participants.
While Staff cannot conclude that discriminatory practices are widespread,
there is evidence of discriminatory instances.

Southeast:  The traditional vertically integrated utility ("VIU") model has
largely persisted in the SE.  This continued control has vastly reduced the
economic incentives to facilitate IPP activities.  In many cases, the VIUs
have dampened IPP involvement without violating any Commission regulation due
to the inherent flexibility of the current rules.

Staff cites examples of delays in performing system impact studies,
transmission hoarding in the name of serving native load growth and
manipulation of ATC.  TPs have shown little inclination to improve the
transmission system and use many TLRs.

There is also a lack of market information that has stymied the development
of markets in the SE.  ATCs change constantly that leads to uncertainty and
there is no clearinghouse for electric power prices.

TVA, despite having taken steps to participate in reformed markets, has acted
as a bulwark against the development of competitive energy markets in the
SE.  This is significant because of TVA's size and location.  IPPs have
reported TVA's discouragement of siting in TVA through excessive time to
perform studies, excessive fees, and rejection of requests to perform
interconnection studies.

In addition, Staff cites the Florida Sup. Ct. decision against merchant
plants as significantly impeding the competitive market in Florida.

Staff discusses the significant flow of power from the Midwest to the SE this
summer.  Much of this resulted from the import of cheaper coal power, than
the use of gas fired peakers due to higher gas prices.  Peak prices were
radically lower this summer because utilities appear to have been better
prepared for peak events through the use of forward contracts, increased
generation capacity on line and reduced number of forced outages.

SE utilities reported that they have not used market-based rates to
extensively increase sales.  (Less used than in the midwest.)

The SE region lacks information, which has retarded the Staff's efforts to
discern the truth about the numerous complaints about transmission in the SE
(including ATC and TLRs).  Market participants seem to have less confidence
in the SE market than in any other market region.  This appears to be
justified based on Staff's investigations.  This lack of confidence
discourages investment and participation in the markets.  Staff concludes
that the Commission may need to be more prescriptive in terms of how
transmission is allocated in the SE RTOs, since there are market concerns
that the incumbents will continue to dominate operations.  The investigation
found numerous problems in bad ATCs and TTCs and poor OASIS postings.  In
addition, several OASIS audit logs actually erased historical data.  Staff
thinks that additional affiliate transaction information should be posted.
Staff could not obtain summer demand data and the Commission's lack of
jurisdiction over TVA made it difficult to obtain transmission access
information.

The Staff investigation revealed unclear interconnection procedures and lack
of adherence to schedules and arbitrary cost estimates and deposits.  In
addition, the TPs have reserved a huge amount of network transmission
capacity, much of it reserved shortly after the IPP approached the TP to
interconnect.  Staff cites the recent Skygen order in which Southern denied
Skygen's request for transmission stating that the only option was the
construction of an 80 mile 500 kv line that would take 8 years to complete.
Staff solutions include allowing network requests by IPPs and limiting
self-build capacity in the incumbent's territory.

ATC variations are a big problem in the SE.  SERC coordination of a
standardized ATC is a long process and may not be resolved soon without
direction from the Commission.  An improved method and improved communication
are needed.

The SE experienced a 354% increase in TLRs this summer.  This increase raises
the issue of whether curtailment has become an impediment to the competitive
operation of the market in the SE.  Staff cites information provided by
Charles Y. that an Ameren TLR was not implemented according to NERC
criteria.  Staff also wonders if transmission is being oversold since TPs do
not generally refund transmission revenues when TLRs are implemented.  RTOs
must have a broad geographic area to internalize much of the constraints.  In
addition, RTOs will adopt pricing mechanisms that obviate recourse to TLRs.
However, if control areas are retained, VIUs will retain mixed incentives.

*** As noted in the Midwest report, the manner in which load is calculated
weighs heavily on the value of this information.  This is an issue that the
formation of RTOs may not resolve.  Eliminating native load exceptions -- ie,
treating all load equally -- and placing all transactions under the same
tariff may be an option that provides the right incentives for the provision
of transparent and standardized information.

Finally, Staff describes specific problems with TVA and FP&L, TVA is a
"problem area" for the Eastern Interconnect grid.  TVA is a transmission
bottleneck due to the many TLRs called this summer.  The current federal law
and lack of Commission jurisdiction are impediments to the development of
deep and robust power markets in this area.  TVA simply has no strong
incentive to provide effective and efficient transmission service.  In
addition, the Commission does not have full information on TVA.  Staff lists
a number of complaints against TVA, including unjustifiably increasing the
tag deadline and allowing TVA Marketing, but not others, to sink and park
power.  Staff concludes that recent proposals by TVA to enhance the
development of markets and its system do not appear to have great potential.

A Staff audit of FP&L revealed violations of standards of conduct, including
confidential information on FP&L's transmission system (including interchange
information for other entities) posted on EMS systems that were available to
FPL's merchant function.  Staff's report found that FP&L does not have an
established procedure for review of EMS to ensure that information is not
displayed in error.  It is "up to individual Managers discretion."  ((FRCC
web site report dated 9/8/00)).  Violations such as these undermine
competition.

The reports are attached below.

 - southeast.pdf
 - midwest.pdf

NORTHEAST SUMMARY

Attached is a summary of FERC Staff,s November 1, 2000 report on its
investigation of the Northeast region.  The report is very encouraging
because it is comprehensive and recommends many of the changes and solutions
that Enron has been advocating for years.  The report is also encouraging
because it indicates a significant level of understanding of the northeast
markets (and the problems in these markets) by the FERC people who worked on
this report.  Because this is only a brief summary, the entire report
(particularly sections 4 and 5) should be read in detail.  A copy of the
report is attached.

Please let us know if you have any questions or comments.

Sarah


Start Date: 10/9/01; HourAhead hour: 6;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2001100906.txt

Error retrieving HourAhead price data - process continuing...
---- Energy Import/Export Schedule ----
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 10/9/01
  TIE_POINT: PVERDE_5_DEVERS
  INTERCHG_ID: EPMI_CISO_EPE
  ENGY_TYPE: FIRM


Kevin,

With respect to James' latest economic analysis, ($843 MM capx; 550,000/d firm contracts to Phoenix; 60/40 debt/equity, 4.75% fuel in years 1/2/3, tracker thereafter) for each year of the project, I'd like to see-

Fianancial statements for each year
- Income statement
- Balance sheet
- Funds flow

Financial ratios for each year during the 20 year contract term
- Debt to capitalization
- Debt Equity
- Debt to Asset
- Times Interest Earned
- Debt Service Coverage

Amount of unrecovered debt and equity at the end of the 20 year contracts,

Distributable cash for each year - - - depending how much there is, we could lock it up to pay off debt


Really appreciate the note.  Great working with you.

Best,
Jeff

-----Original Message-----
From: John Klauberg [mailto:JKLAUBER@LLGM.COM]
Sent: Saturday, September 29, 2001 9:06 PM
To: Dasovich, Jeff
Subject: Follow up

Jeff:

Thanks again for all of your time and consideration with respect to our consideration of Norm Pedersen to join our Firm in Los Angeles.  I just wanted to let you know that we decided it probably did not make sense to pursue things further with Norm.  After drilling down even further, it just seemed like we were going to run into major conflict problems down the road based upon the CA regulatory proceedings that likely are going to arise and the nature of Norm's historical client base.  It also would not have been fair to Norm to have him join the Firm and then be conflicted out of work that he had planned to pursue at the Firm.  I can't tell you how much I appreciate your candor as well as your open-mindedness in helping me evaluate the situation.  I really felt bad bothering you with this, but I knew you would have the best insights into the likely direction of the regulatory proceedings in CA and I wanted to make sure that I was being fair in evaluating Norm's situation and in a position to make a decision based on all of the relevant facts.  I also want to emphasize emphatically (if it is possible to use those words together!) that I do not want you to think or feel that you "nixed" Norm or anything along those lines; indeed, I feel quite the opposite.  In addition, from the outset, after first talking to Norm and getting a sense for the types of business he has been handling and the issues he has been pursuing on behalf of his clients, I had felt it was really a non-starter since the last thing I wanted to do was to have LeBoeuf on the other side from Enron in important regulatory proceedings for the company.  It is one thing to receive a waiver to represent another company in a negotiated commercial transaction in which Enron is relying on another law firm, but I could not see us pressing a regulatory agenda directly adverse to Enron's interests in a proceeding in which Enron was a major participant and which we knew going into the proceedings at the start that our representation would be adverse to Enron.

As Rick may have told you, there have been some situations where we have been adverse to the Company or at least representing clients that did not see "eye to eye" with Enron on all of the issues.  These generally have been situations involving historical client relationships that go back decades where Enron has itself been using Bracewell, for example, and Rick has been incredibly gracious and understanding in not conflicting us out of those proceedings.  Nonetheless, I am trying to do whatever I can to try to eliminate or reduce the number of those situations on a going forward basis, although I know I will not be able to eliminate all of them in light of the size of our Firm and the diverse nature of its client base.

Jeff, I will follow up with you personally, but I just wanted to drop you a quick note to thank you for the time and thought you devoted to this.   I'm sure we will be speaking soon on some CA regulatory matter or the other.

John

John Klauberg
LeBoeuf, Lamb, Greene & MacRae, L.L.P.
212 424-8125
john.klauberg@llgm.com

==============================================================================
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.

==============================================================================


---------------------- Forwarded by Kay Mann/Corp/Enron on 06/06/2001 06:11
PM ---------------------------

"Wilson Montjoy" <wmontjoy@brunini.com> on 06/06/2001 04:26:00 PM
To: <Kay.Mann@enron.com>
cc:

Subject: Fwd: Form of Opinion of Hunt and Ross

Attached is Rod's draft opinion for David.
Content-Transfer-Encoding: binary
Date: Wed, 06 Jun 2001 16:18:14 -0500
From: "Michelle Blackstock" <mblackst@brunini.com>
To: "Wilson Montjoy" <wmontjoy@brunini.com>
Subject: Form of Opinion of Hunt and Ross
Mime-Version: 1.0
Content-Type: application/x-WordPerfect6.1
Content-Disposition: attachment; filename="enron power.wpd"
Content-Description: WordPerfect 6.1

 - enron power.wpd


Sorry about that.  I have been a bit preoccupied.  I put them in the car so I would remember to take care of it and took them with me this weekend so I could stop at the post office.  It turns out the neighborhood office is closed on Saturdays and of course they were all closed on Monday.  You should have them tomorrow.

 -----Original Message-----
From: 	Eleanor F Taylor <mzeleanor@juno.com>@ENRON
Sent:	Tuesday, November 13, 2001 1:46 PM
To:	Taylor, Mark E (Legal)
Subject:	Proofs

I just went to order the pictures we had taken at the photographer's in
August.  They wouldn't let me order without the proofs.  They said there
are more numbers on the back of the proofs than we have.  Do you still
have the proofs?  I hope so, because they haven't come in the mail yet.
We would really appreciate it if you could send them as soon as possible.
 It takes four weeks to get the finished pictures after they are ordered
and we want to put some wallet sized copies in Christmas cards.  I hope
things have calmed down for you some at work.  I really hate to bother
you with this.

Love, Mother
________________________________________________________________
GET INTERNET ACCESS FROM JUNO!
Juno offers FREE or PREMIUM Internet access for less!
Join Juno today!  For your FREE software, visit:
http://dl.www.juno.com/get/web/.


Reservation status has changed to CONFIRMED. See attachment.

ASSIGNMENT_REF = 30668
SELLER_CODE = AZPS
SELLER_DUNS = 958982563
CUSTOMER_CODE = EPMI
CUSTOMER_DUNS = 848921276
AFFILIATE_FLAG = 0
PATH_NAME = W/AZPS/AZPS-AZPS/FOURCORNE345 - PNPKAPS230//
POINT_OF_RECEIPT = FOURCORNE345
POINT_OF_DELIVERY = PNPKAPS230
SOURCE = FOURCORNERS
SINK = PNPK
CAPACITY = 25
CAPACITY_REQUESTED = 25
SERVICE_INCREMENT = HOURLY
TS_CLASS = FIRM
TS_TYPE = POINT_TO_POINT
TS_PERIOD = OFF_PEAK
TS_WINDOW = FIXED
TS_SUBCLASS = WHEEL
NERC_CURTAILMENT_PRIORITY = Nerc Priority 1
OTHER_CURTAILMENT_PRIORITY = Default
START_TIME = 06/03/2002
STOP_TIME = 06/03/2002
CEILING_PRICE = 1.95
OFFER_PRICE = 3.13
BID_PRICE = 3.13
PRICE_UNITS = $/mW
PRECONFIRMED = YES
ANC_SVC_LINK = N/A
ANC_SVC_REQ = N/A
POSTING_REF = 0
SALE_REF =
REQUEST_REF =
DEAL_REF =
NEGOTIATED_PRICE_FLAG =
STATUS = CONFIRMED
STATUS_NOTIFICATION = lisa.gang@enron.com
STATUS_COMMENTS =
TIME_QUEUED = 05/31/2002
RESPONSE_TIME_LIMIT =
TIME_OF_LAST_UPDATE = 05/31/2002
PRIMARY_PROVIDER_COMMENTS =
SELLER_COMMENTS =
CUSTOMER_COMMENTS = FOR INFO CALL (503)464-5070
SELLER_NAME = AZPS
SELLER_PHONE = 602.250.1128
SELLER_FAX = 602.250.1155
SELLER_EMAIL = oasisadm@apsc.com
CUSTOMER_NAME = Enron Power Marketing, Inc.
CUSTOMER_PHONE = (713)853-3801
CUSTOMER_FAX = (713)646-8272
CUSTOMER_EMAIL = bill.rust@enron.com
REASSIGNED_REF = 0
REASSIGNED_CAPACITY = 0
REASSIGNED_START_TIME =
REASSIGNED_STOP_TIME =


NOTE:  YOU WILL RECEIVE THIS MESSAGE EACH TIME YOU ARE SELECTED AS A REVIEWER.

You have been selected to participate in the Year End 2000 Performance
Management process by providing meaningful feedback on specific employee(s).
Your feedback plays an important role in the process, and your participation
is critical to the success of Enron's Performance Management goals.

To complete requests for feedback, access PEP at http://pep.corp.enron.com
and select Perform Review under Performance Review Services.  You may begin
providing feedback immediately and are requested to have all feedback forms
completed by Friday, November 17, 2000.

If you have any questions regarding PEP or your responsibility in the
process, please contact the PEP Help Desk at:

Houston: 1.713.853.4777, Option 4
London:  44.207.783.4040, Option 4
Email: perfmgmt@enron.com

Thank you for your participation in this important process.

The following is a CUMULATIVE list of employee feedback requests with a
status of "OPEN."   Once you have submitted or declined an employee's request
for feedback, their name will no longer appear on this list.

Review Group: ENRON
Feedback Due Date: Nov 17, 2000

Employee Name                   Supervisor Name                 Date Selected
-------------                   ---------------                 -------------
BROWN, WILLIAM W                LOUISE KITCHEN                  Nov 02, 2000
BRUCE, DANIEL                   PHILIPPE A BIBI                 Nov 10, 2000
DETMERING, TIMOTHY J            JEFFREY M DONAHUE JR            Oct 31, 2000
DONAHUE JR, JEFFREY M           DAVID W DELAINEY                Nov 15, 2000
DOSHIER, RAYMOND W              KEVIN P HANNON                  Nov 13, 2000
FITZGERALD, JAY L               LOUISE KITCHEN                  Nov 13, 2000
GARNER, BRUCE                   LOUISE KITCHEN                  Oct 27, 2000
GROS, THOMAS D                  LOUISE KITCHEN                  Nov 13, 2000
HICKERSON, GARY J               JEFFREY A SHANKMAN              Nov 15, 2000
MCCLELLAN, GEORGE               JEFFREY A SHANKMAN              Nov 15, 2000
MCMAHON, JEFFREY                MARK A FREVERT                  Oct 31, 2000
NOWLAN JR, JOHN L               JEFFREY A SHANKMAN              Nov 16, 2000
PIPER, GREGORY F                LOUISE KITCHEN                  Nov 14, 2000
SHANKMAN, JEFFREY A             MICHAEL S MCCONNELL             Nov 16, 2000
ZIPPER, ANDREW A                LOUISE KITCHEN                  Nov 13, 2000


I will look closely at the sample letters to see whether there is any way to
avoid the conclusion you have reached, which appears to be the correct one.
I have a meeting right now, and will focus on it right after that -- I'll
send another email once I've completed that review early this afternoon.
Michelle

Hoyt Thomas@ENRON
07/28/2000 11:23 AM
To: Michelle Cash/HOU/ECT@ECT
cc: Jon Chapman/LON/ECT@ECT, David Oxley/HOU/ECT@ECT
Subject: Confidential

Michelle, Melissa Laing and I talked to Jon Chapman today, and basically Jon
deferred to you, since the RW employees in NY are a question for US
employment law.

Melissa and I do believe that the  RW US-based employees that were given
UK-style employment letters, such as the sample one I gave you, are our
employees, because of those letters; they were given "offer letters" by MG
before the MG/Enron deal went unconditional and in most cases they accepted
them, so they were MG employees when all MG employees became our employees.
If it is a fact that they are Enron employees, we have to figure out the
liability associated with terminating them!

It appears that on Monday, MG and Enron leadership will decide to exit some
of the London and New York RW business that MG acquired, and some (minimum 9,
max 15) of the former RW employees will need to be terminated during
August.   John Sheriff and Gary Hickerson both want to know the cost of that
decision.   Right now we are assuming that we are liable for the severance
periods stated in the offer letters to the people; we would like to be able
to avoid that cost  (estimated at $700k and $1.5M, depending on who is
redundant) or reduce it if possible.  However, if it is your recommendation
that we have to honor those letters, so be it.

If you have any questions, please call Melissa Laing (tie line 8303 6617) in
the UK and she can find me.  Thanks.

Hoyt

Michelle Cash@ECT
07/28/2000 10:10 AM
To: Hoyt Thomas/NA/Enron@ENRON
cc:

Subject: Re: RW

Hoyt, I am convinced that the MG employees are ours.  The RW employees may or
may not be ours.  It is my understanding that we own the assets of RW, and
that we decided to hire certain, key personnel from RW.  The remaining RW
employees do not automatically come with the assets.  I am working on
obtaining more information on the RW side of things from lawyers here in the
US.  Key to employment decisions will be provisions of the asset purchase
agreement, if any are applicable.  You might check with Jon Chapman in the UK
to see whether he has any more information on this point.  Thanks.  Michelle

Hoyt Thomas@ENRON
07/28/2000 04:12 AM
To: Michelle Cash/HOU/ECT@ECT
cc:
Subject: RW

Justin Boyd said he talked to you, are you convinced that the MG and RW
employees are now ours?

Assuming that you do:

I will bring copies of all the offer letters MG wrote to RW employees, I
think there are something like 27 or 28.  They are all very similar to the
one or two that I have already given you.

I believe that we will not want to keep some of the businesses that are being
acquired with Rudolph Wolff, particularly the FX business in New York.
Naturally, some of the people in the potentially discontinued business
received the onerous letters.  Gary Hickerson has to decide what he is going
to do with this by August 18, if not sooner.  With the letters that were
delivered , I would like to get an opinion from you on what we have to do to
terminate the people associated with the business, assuming that Gary wants
to shut it down.

Also, MG have 4 to 6 employees in Montreal.  We (HR) are trying to convince
the business side that we do not want any people in Montreal because of the
employment laws . . . but it does not appear that we will succeed.  We may
reduce the size of the office, though, and we may not want to put them on the
Canadian payroll, particularly is we only keep 1-2 people there.  Do you have
contacts in Montreal that can advise us on how to terminate any employees
that we choose to terminate?  What would be the Enron position on having them
on a separate payroll from Enron Canada?

Thanks
Hoyt


The following file contains a graphical view of the North American Gas
average deal count by Trader and Product for EOL. This information is for
comparative analysis only.  Do not update links when opening this file.

If you have any questions regarding this breakout, please let me know .

Matt Motsinger
EnronOnline
713-853-5221


**Clarification**

Harassment Prevention Training

This training is mandatory for all Enron employees employed since the last
seminar was conducted  in late 1998 or early 1999.  Those who have already
attended Enron harassment avoidance training will be offered a refresher
course in avoiding and preventing harassment.

To contribute our personal best at ENRON, our conduct must promote respectful
and co-operative work relationships. Workplace harassment conflicts with
ENRON's vision and values and violates Company policy.  Harassment also can
violate federal and state laws.  By understanding what harassment is and its
potential harm, we can prevent it in our workplace.

During this training you will:

 Be able to recognize harassment
 Learn to take precautions against being harassed
 Learn to avoid being considered a harasser
 Know how to address a situation involving harassment
 Learn how harassment prevention is consistent with ENRON values

Please click here (  )  to sign up for the session of your choice.    If you
have problems registering or have any questions, please call 713 853-0357.

We are pleased to announce that all employees of EWS and EES will receive
harassment prevention training.

The dates and times available for the sessions are:

 Friday, Feb 23; 1:00 - 2:30; 2:45 - 4:15
  Monday Mar 5; 1:00 - 2:30; 2:45 - 4:15; 4:30 - 6:00

All training sessions will be held in the LaSalle Room at the DoubleTree
Hotel.
There is a $50 charge for each attendee in the training session.


Please see below,  re MAC for Aquila

Thanks!

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 02/21/2001 11:02 AM -----

	"Dirks, Kathleen" <KDirks@utilicorp.com>
	02/21/2001 09:55 AM

		 To: "'dperlin@enron.com'" <dperlin@enron.com>
		 cc:
		 Subject: HPL & Aquila Master Firm Purchase/Sale Agreement

Debra,

I thought I would touch base with you on the status of the Material Adverse
Change language for the above agreement.  I did speak with Marie Heard
yesterday and she indicated she would contact you concerning this language.
Marie advised that even though this language was approved for the Bandwidth
agreement, it would not necessarily be approved for this gas agreement.

This particular language needed special approval from our CFO as it differs
from our "approved" language.  In light of that, I am sending you our
standard language in case the "bandwidth" version is not acceptable to
Enron's gas Credit people.

We are very anxious to finalize this agreement, so please let me know if
there is anything I can do from our side to expedite this.  I really
appreciate all of your assistance!

      <<Material Adverse Change.doc>>

Kathleen Dirks
Contract Administrator
Aquila Energy Marketing Corporation
1100 Walnut Street, MS 29-2918
Kansas City, MO  64119
Phone: 816-527-1560
Fax: 816-527-4560

 - Material Adverse Change.doc


Please be aware of the correction on candidate's name. Thank You

Stephanie
---------------------- Forwarded by Stephanie Summers/NA/Enron on 10/10/2000
04:00 PM ---------------------------

Stephanie Summers
10/10/2000 03:41 PM
To: Vince J Kaminski/HOU/ECT@ECT, Zimin Lu/HOU/ECT@ECT, Alex
Huang/Corp/Enron@ENRON, Tanya Tamarchenko/HOU/ECT@ECT, Paulo
Issler/HOU/ECT@ECT
cc: Anita DuPont/NA/Enron@ENRON, Shirley Crenshaw/HOU/ECT@ECT, Marlow
Anderson/Corp/Enron@Enron

Subject: Interview Schedule for  Yingquan Shen (Charles)

Please find the interview packet for the above-referenced person.  The
interview will occur on Friday October 13,  2000.  Please print all three
documents for your reference.  If you have any questions, or conflicts of
schedule, please do not hesitate to contact me.

Stephanie
58701


Mark,

Attached below is a spreadsheet to inventory the assets you have in you office.  Can you please fill this out as best as you can and send it back to me.

Thanks,

Jason Chumley
Enron Networks
Remote Infrastructure & Integration
(713) 853-7996


For the week September 18-22th:

Transwestern weekly average deliveries to California were 1,085 MMcf/d (99%)
while east deliveries averaged 340 MMcf/d.  San Juan lateral throughput
averaged 857 MMcf/d while receipts from Rio Puerco averaged 74 MMcf/d.

El Paso average deliveries to California were 2,258 MMcf/d (78%) :

- PG&ETop (capacity 1,140 MMcf/d) deliveries averaged 616 MMcf/d (54%)
- SoCalEhr (capacity 1,200 MMcf/d) deliveries averaged 1,122 MMcf/d (94%)
- SoCalTop (capacity 540 MMcf/d) deliveries averaged 520 MMcf/d (96%)

Other pipeline throughput:

- PGT ( capacity 1,935 MMcf/d) throughput to California averaged 1,888 MMc/d
(98%)
-  Kern River (capacity 700) throughput to California averaged 341 MMcf/d
(49%)

Thursday Enron Online Basis numbers:

California basis lost .69 and .17/.20 for October, Nov-March/April-Oct '01,
respectively since last Friday.

  Oct.  Nov 00-March '01 April-Oct '01
Perm-CA   .41    .29      .36
SJ - CA   1.21    .51      .60
SJ-Waha   .86    .29      .32
Perm-Waha   .06    .06      .08


Start Date: 4/7/01; HourAhead hour: 4;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001040704.txt


Start Date: 1/20/02; HourAhead hour: 3;  HourAhead schedule download failed. Manual intervention required.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002012003.txt
Error: dbCaps97Data: Cannot perform this operation on a closed database
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
Error: dbCaps97Data: Cannot perform this operation on a closed database
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
Error: dbCaps97Data: Cannot perform this operation on a closed database
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
Error: dbCaps97Data: Cannot perform this operation on a closed database
Error: dbCaps97Data: Cannot perform this operation on a closed database
Error: dbCaps97Data: Cannot perform this operation on a closed database
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
Error: dbCaps97Data: Cannot perform this operation on a closed database


Paul,

Both ENA and ECTRIC have a master agreement in place with Morgan Stanley Capital Group, Inc., as follows:

	1.	ENA's is Master Agreement dated effective as of June 16, 1992, and which has been amended over time.

	2.	ECTRIC's is an ISDA Master Agreement dated effective as of August 29, 1997.

As for your inquiry concerning nettting agreements -- Morgan Stanley has no master netting arrangements with either ENA or ECTRIC.

Hard copies of the aformentioned agreements will be faxed to you today.

Susan S. Bailey
Enron North America Corp.
1400 Smith Street, Suite 3803A
Houston, Texas 77002
Phone: (713) 853-4737
Fax: (713) 646-3490
Email: Susan.Bailey@enron.com

______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

Alan,

FYI;	 Paul Simons (London) has requested copies of the Morgan Stanley Capital Group master agreements, which are in place with ENA and ECTRIC.   London may be working on trading matters concerning this counterparty.

 -----Original Message-----
From: 	Heard, Marie
Sent:	Monday, February 04, 2002 8:41 AM
To:	Simons, Paul
Cc:	Crilly, Peter; Bailey, Susan
Subject:	RE: Morgan Stanley

Paul:

You can only imagine how disgusting things are over here with the media circus.  I guess being in London I don't have to tell you about media circuses!  Hopefully, we'll all be able to get through this and move on to bigger and better things.

I'm passing your e-mail along to Susan Bailey, as I don't have any involvement in the day to day old Enron business.  Hopefully, Susan will be able to help you.

Take care!

Marie

 -----Original Message-----
From: 	Simons, Paul
Sent:	Monday, February 04, 2002 8:34 AM
To:	Heard, Marie
Cc:	Crilly, Peter
Subject:	Morgan Stanley
Importance:	High

Marie

I hope you dealing with the sudden fame (notoriety) in the US!

Have you got any master agreements or other netting agreements in the US between Morgan Stanley Capital Group Inc and ECTRIC (Enron Capital & Trade Resources Inc)?

If so please fax me a copy and email me to say it's on its way.

Thanks a lot.

Paul


check out chad's name in this thing
---------------------- Forwarded by Matthew Lenhart/HOU/ECT on 04/12/2001
02:35 PM ---------------------------
To: Matthew Lenhart/HOU/ECT@ECT
cc:

Subject: Re: FW: Prison Bitch Name Generator

---------------------- Forwarded by Victor Guggenheim/HOU/ECT on 04/12/2001
02:30 PM ---------------------------

	Enron North America Corp.

	From:  Darron C Giron                           04/12/2001 10:06 AM

To: Patrick Ryder/NA/Enron@Enron, Phillip M Love/HOU/ECT@ECT, Bruce
Mills/Corp/Enron@ENRON, Victor Guggenheim/HOU/ECT@ECT
cc:
Subject: Re: FW: Prison Bitch Name Generator

---------------------- Forwarded by Darron C Giron/HOU/ECT on 04/12/2001
10:04 AM ---------------------------

	Enron North America Corp.

	From:  Darron C Giron                           04/11/2001 04:00 PM

To: "Brent Wallace" <bwallace@zahrsecurities.com> @ ENRON
cc:
Subject: Re: FW: Prison Bitch Name Generator

Nipple Nibbler

DG

"Brent Wallace" <bwallace@zahrsecurities.com> on 04/11/2001 02:52:49 PM
To: "James Conlee \(E-mail\)" <jconlee@tradecast.com>,
<brollman@protrader.com>, <darron.c.giron@enron.com>
cc: <joe@gallup.com>, <fallen@zahrsecurities.com>, <chris@savatech.com>
Subject: FW: Prison Bitch Name Generator

What's yo name, biznitch?

 http://members.iglou.com/lyons/bitchGen.html
 <<Oz Prison Bitch Name Generator.url>>

 - Oz Prison Bitch Name Generator.url


Will attend

	Becky Spencer
	05/21/2001 10:23 AM

		 To: Nidia Mendoza/Enron@EnronXGate, Susan Bailey/HOU/ECT@ECT, Samantha
Boyd/NA/Enron@Enron, Robert Bruce/NA/Enron@Enron, Mary Cook/HOU/ECT@ECT,
Brent Hendry/NA/Enron@Enron, Tana Jones/HOU/ECT@ECT, Anne C
Koehler/HOU/ECT@ECT, Stephanie Panus/NA/Enron@Enron, Sara
Shackleton/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Frank
Sayre/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Francisco Pinto
Leite/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Cheryl Nelson/NA/Enron@Enron, Mark
Greenberg/NA/Enron@ENRON, Tanya Rohauer/Enron@EnronXGate, Paul
Radous/Enron@EnronXGate, Wendy Conwell/Enron@EnronXGate, Edward
Sacks/Enron@EnronXGate, Brant Reves/Enron@EnronXGate, Veronica
Espinoza/Enron@EnronXGate, Rudwell Johnson/Enron@EnronXGate, Ken
Curry/Enron@EnronXGate, Aparna Rajaram/Enron@EnronXGate, Jason R
Williams/Enron@EnronXGate, Russell Diamond/Enron@EnronXGate, Darren
Vanek/Enron@EnronXGate, Carol North/Enron@EnronXGate, Wendi
LeBrocq/Enron@EnronXGate, Mark Powell/CAL/ECT@ECT, Tony
Pryor/ET&S/Enron@ENRON, Shemeika S Landry/Enron@EnronXGate, Donna
Lowry/Enron@EnronXGate
		 cc: MaryHelen Martinez/NA/Enron@Enron, Janet Cones/Enron@EnronXGate, Keegan
Farrell/NA/Enron@Enron, Taffy Milligan/HOU/ECT@ECT, Esmeralda
Gonzalez/ENRON@enronXgate, Carolyn George/Corp/Enron@ENRON, Holly
Keiser/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Kaye Ellis/HOU/ECT@ECT, Suzanne
Adams/HOU/ECT@ECT, Nita Garcia/NA/Enron@Enron
		 Subject: Next Credit/Legal Seminar

Please plan on attending our next Credit/Legal seminar.  This seminar will be
held Wednesday, May 23rd, from 2:00 - 3:30 p.m. in EB49c4 and will be a
continuation of our discussions of the ISDA Master Agreement.  The topic for
this session will be to first finish the last few items on the Credit Support
Annex, then discuss the Credit Worksheet and High Risk Counterparties.
Refreshments will be provided.  Please e-mail Becky Spencer, if you are
unable to attend.


For March 27 run:
NGPROpt book 1084746 copied into 1085734(with skew)
calls 1085788 and 1085790(with skew)
puts 1085015 and 1085016(with skew)
done with Jeremy's excutible of port_calc on stage.

 -----Original Message-----
From:  Quigley, Dutch
Sent: Friday, March 23, 2001 12:55 PM
To: Wei, Dave; Jeremy Wong/HOU/ECT@ENRON
Cc: Griffith, John; McLaughlin, Errol; May, Larry
Subject: Skew Project

Dave,

To follow up on our conversation about the Pipe Option Book, Errol will
provide post id's for Friday's COB
to calc the pipe options book with the skew table. As I asked on the phone
please provide two calcs, one calc
for the pipe options deals with and with out skew and another calc with the
NYMEX options deals with and without skew.

In addition to this, please recalc  1078960 & 1078963 for the ngpropt book.
These calcs are for puts and for calls for COB 3-23.

If you have any questions please contact me at 3-9257 with any questions

Dutch


Laura

Dave Forster from Eol may be calling you.  I am trying to get the Hub online
and I am having trouble because Enron does not own more than 50% of the
Midwest Hub.  An EOL lawyer may have found a solution.  I have asked Dave to
call you.  I wanted to give you a heads up.

Thanks
Hunter


George,
 I would suggest that the necessary language be added to the Special
Conditions block of the Transaction Confirmation.  I would suggest the
following language be inserted in each applicable Transaction Confirmation.

"Notwithstanding anything to the contrary otherwise contained in the
sentences previously added to the end of Section 13.5, the parties agree that
the price to be applicable with regard to any volumes outside of the +/-10%
tolerance shall be the Gas Daily "Daily Mid-point" price for the day
following the day that the parties discover the existence of volumes outside
of the +/-10% tolerance."


Glad to hear that it all worked out.  Have a great conference.
Best,
Jeff

	Laura Lantefield/ENRON@enronXgate
	03/06/2001 02:58 PM

		 To: Sandra McCubbin/NA/Enron@Enron
		 cc: Jeff Dasovich/NA/Enron@Enron
		 Subject: William Keese

Sandra -- Thank you so much for your help arranging for Mr. Keese to speak at
our customer meeting.  He is exactly the type of speaker we were looking for
and we are very much looking forward to hearing his presentation.  Laura


---------------------- Forwarded by Jodi Coulter/HOU/ECT on 03/17/2000 08:55
AM ---------------------------

"Cryshenda Terry" <TERRC@andrews-kurth.com> on 03/16/2000 10:16:20 PM
To: "TOM POPPLEWELL" <POPPT@andrews-kurth.com>, <alan.quaintance@enron.com>,
<bill.brown@enron.com>, <charles.delacey@enron.com>,
<gareth.bahlmann@enron.com>, <jodi.coulter@enron.com>,
<ryan.siurek@enron.com>, <trevor.randolph@enron.com>,
<mniebruegge@mayerbrown.com>, <tellwood@mayerbrown.com>,
<schottla@us.cibc.com>, <wolfmark@us.cibc.com>
cc: "DAVID BARBOUR" <BARBD@andrews-kurth.com>, "DALLAS GUEST ACCOUNT #2"
<DGUEST2@andrews-kurth.com>, "DEBORAH LOWE" <LOWED@andrews-kurth.com>, "Mary
Rembert" <REMBM@andrews-kurth.com>, "MARTHA WELMAKER"
<WELMM@andrews-kurth.com>
Subject: Agreements

Per Danny Sullivan's request, attached are drafts of the Transferor LLC
Agreement and the Asset LLC Agreement (both blacklined against Discovery) in
Word and WordPerfect formats.

If you have any questions or problems, please do not hesitate to contact me.

Cryshenda Terry
Evening Information Processing Supervisor
Andrews & Kurth LLP
1717 Main Street, Suite 3700
Dallas, Texas 75201
(214) 659-4459

 - 232889 VER.1 against #509402 VER. 2.wpd
 - #232928 VER.1 against 509403 VER.5.wpd
 - 232889 VER.1 against #509402 VER.doc
 - #232928 VER.1 against 509403 VER.doc


You're right. This deal does not need to be confirmed again, says Monica
Lande. I'll change it in the system as soon as our calc is done today - about
4:30 p.m. PST.

Thanks,
Kate

Kimberly Hundl@ENRON
11/27/2000 02:34 PM
To: Monica Lande/PDX/ECT@ECT, Kate Symes/PDX/ECT@ECT
cc:

Subject: Deal #385852

I think this deal should have been entered as "no confirm."  Can you please
change it?  If I am wrong, please let me know.
Thanks!
Kim


I wanted to let  you know I am currently negotiating two Master Gas
Agreements with TransCanada for the two entities listed above.  As previously
discussed, credit suggests increasing  TransCanada Pipelines Ltd.'s  guaranty
to $50MM and decreasing Enron's to the same amount.    Have you discussed
TransCanada's guaranty?    Is $50MM large enough to cover your agreement?

Veronica Espinoza(66002) in credit is working with me on guaranty issues.
Finally, did you receive copies of Enron's and TransCanads's guaranty?  If
not, let me know I will fax same.  Their guaranty expires the end of this
month.

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


Suzanne:
Please include Jim Crump in the Inland meeting that I need to have with Ken
Curry.  He would like to meet as early on Tuesday as possible as he will be
travelling later on Tuesday.  His assistant's name is Dora Trevino.  Does Ken
Curry have an assistant that can access his calendar?  If not, why don';t you
get a time that works for Jim and me and leave Ken a voice mail message so he
can get back to you on Monday.  We need about 1 hour.  thanks.

Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com


here's the file we spoke about

 -----Original Message-----
From: 	Griffith, John
Sent:	Wednesday, June 13, 2001 2:10 PM
To:	Parkhill, Kenneth
Cc:	Issler, Paulo; Lee, Bob
Subject:	Option Trade

Kenneth,

Here is the trade I was looking at:

	Dec'01	trading at $4.725

		 100  4.70 Calls
		-300  5.50 Calls
		 200  5.90 Calls

		-200  3.50 Puts
		 300  4.00 Puts
		-100  4.70 Puts

Someone called a broker on the floor of the exchange to get a price on this butterfly combination. First of all, can you tell me what this trade does for you.  I looked at the payout and I don't understand what they were trying to do.  Second, the price that the floor market makers gave him was $.10 bid at $.14.  I price the deal at approximately $.07.  I know that the $.10 is too high and the delta of the trade is about .07 (really small).  How can I use your skew file to see the arbitrage?

I have attached the payout chart.

Thanks for your help.  Call if you have any questions.  Thanks.

John

 << File: Payout chart.xls >>


I tried to call you back today, but was told that you had left the office.
Tried to leave you a voice mail message, but no one in the office knew how to
transfer my call into voice mail.  They were good about answering your phone,
however!

I will call you tomorrow morning before my first meeting at 8:30.  If I miss
you, I will ask my assistant to interrupt me when you call back.  I will be
in meetings with operations people from London and Sydney tomorrow, but can
easily step out to talk with you.


Art,

We have priced these at the money puts and they are kind of expensive.  For the monthly put, Strike of $2.72, premium would be $.495.  For the Daily put, the premium would be $.535.  Let me know if you have any questions.  Prices might be lower tomarrow given the downturn since AGA's came out.  If you are willing to look at out of the money puts, the price would be better as well.

Thanks,

Kim

 -----Original Message-----
From: 	"Avalos, Art" <AAVALOS@pnm.com>@ENRON
Sent:	Wednesday, October 17, 2001 10:43 AM
To:	Ward, Kim S (Houston)
Subject:	Cost for Put Option

Hi Kim,
Could you please give me an estimate for Q3 2002, on the cost of a put
option for 5,000 mmBtu/day (daily and monthly) from the San Juan Basin.
Thanks, I really appreciate it.
Art Avalos


----- Forwarded by Dan Lyons/HOU/ECT on 07/25/2000 04:41 PM -----

	"THOMAS J. MOORE" <TMOORE@LLGM.COM>
	07/25/2000 05:05 AM

		 To: <dlyons@enron.com>, <dharvin@velaw.com>
		 cc: "JOHN G KLAUBERG" <JKLAUBER@LLGM.COM>
		 Subject: Brazos

Attached is a preliminary draft of a memorandum on the Brazos damages issue.
As was the case with the QF issue, I think that Brazos' position is not at
all strong.

The memorandum needs to be authority checked and polished a little, but I
believe that the conclusion is sound. Section 11.02 of the PPA is likely to
be enforced as will the contract escalation provisions. We should discuss how
much of all of this we should share with Tick.

Dan, could I get you to distribute the memorandum as appropriate? Thanks.

Thomas J. Moore
LeBoeuf, Lamb, Greene & MacRae. LLP
303-291-2644
tmoore@llgm.com

The information transmitted is intended only for the person or entity to
which it is addressed and may contain confidential and/or privileged
material.  Any review, retransmission, dissemination or other use of, or
taking of any action in reliance upon, this information by persons or
entities other than the intended recipient is prohibited.   If you received
this in error, please contact the sender and delete the material from any
computer.

 - 148403.doc


Get me info on this.
---------------------- Forwarded by John J Lavorato/Corp/Enron on 09/25/2000
09:53 AM ---------------------------

	From:  Enron Announcements                           09/22/2000 08:36 PM

Sent by: Enron Announcements
To: Enron US Employees
cc:

Subject: The New Power Company; Reserved Share Program

Enron U.S Employees:

A registration statement relating to a proposed initial public offering of
shares of common stock of TNPC, Inc. (TNPC), an affiliate of Enron Corp., has
been filed with the Securities and Exchange Commission.  In connection with
the proposed offering, TNPC has arranged to reserve a limited number of
shares of TNPC's common stock for purchase by Enron U.S. employees and
certain other individuals (Reserved Share Program).  If you have any interest
in further information regarding the Reserved Share Program, which has a
deadline of October 2, 2000, please execute the link to the following site
where you will find a preliminary prospectus, a letter explaining the
program, an expression of interest form, and an NASD questionnaire related to
the offering:

http://home.enron.com:84/tnpcsharepgm/index.html

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.

The following statements are required to be included in this E-Mail by the
rules and regulations of the Securities and Exchange Commission:

 "A registration statement relating to the shares has been filed with the
Securities and Exchange Commission but has not yet become effective.  These
securities may not be sold nor may offers to buy be accepted prior to the
time the registration statement becomes effective.  This E-Mail shall not
constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sales of these securities in any state in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state."

 "No offer to buy the securities can be accepted and no part of the purchase
price can be received until the registration statement has become effective,
and any such offer may be withdrawn or revoked, without obligation or
commitment of any kind, at any time prior to notice of its acceptance given
after the effective date.  An indication of interest in response to this
advertisement will involve no obligation or commitment of any kind."


are attached.  I shall be meeting with Richard Sanders to discuss these
further tomorrow.

 - 0139035.01


Hi Kate,
This deal needs to be changed to no confirm (it's a West daily deal).  Also,
it has an NP-15 delivery point with firm energy.
Thanks!
Kim


This SHOULD be it.  Please circulate, including Lee.

Thanks once again,

Kay

"Thompson, Peter J." <pthompson@akllp.com> on 04/12/2001 08:13:02 AM
To: <Kay.Mann@enron.com>
cc: "Pipitone, Paul" <paulpipitone@akllp.com>

Subject: RE: Revised Salmon Agreement

I will make these changes this morning. Do you want me to circulate the
revised draft once these changes are incorporated, or are we expecting
more comments?

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Wednesday, April 11, 2001 4:09 PM
To: Thompson, Peter J.
Subject: Revised Salmon Agreement

2nd of 2.
---------------------- Forwarded by Kay Mann/Corp/Enron on 04/11/2001
03:08
PM ---------------------------

lee.johnson@ps.ge.com on 04/09/2001 05:55:57 PM

To:   kent.shoemaker@ae.ge.com
cc:   kay.mann@enron.com

Subject:  Revised Salmon Agreement

Kent/Kay-

I've redline the Salmon contract for Exhibits A and B, Purchase Amount,
Maximum Liability Amount, and Unit Liability Amount.  The Power System
Stabilizer has been struck from scope, because I can recall Bill
Williams
advising that LV would need them, Delta/Salmon would not.  That's
consitent
with the other units going to CA (w/ Intergen).

Regards,

Lee <<Comparison of Versions 2 to 3 of Salmon Energy
Agreement_ljredline040901.DOC>>

(See attached file: Comparison of Versions 2 to 3 of Salmon Energy
Agreement_ljredline040901.DOC)


OR
Well, which one is it?  You want to share some information with the rest of
Enron, but you don't know whether it belongs in the ThinkBank or in eMeet.
Here is a handy quiz to help you make the decision.  Answers appear just
below the quiz.
What kind of information do you want to share?
A.  A well-developed idea or suggestion for something that will affect
Enron's bottom line, either through revenue or savings.
B.  A question or a statement that you want someone else at Enron to answer
or discuss.
C.  None of the above.
D.  Both A and B.
If you chose "A," deposit an idea in the ThinkBank's Idea Vault.  If you
chose "B," eMeet is the place for you.  If you chose "C" or "D," send an
e-mail to ethink@enron.com and let us know what you're trying to share.
We'll help you find the right place for it in eThink.

Wednesday, Mar. 29 at 10 a.m. Houston time, join Mark Koenig, executive vice
president of Enron Investor Relations.  Mark will answer questions about the
role of Investor Relations and also provide a stock update.  Remember, if you
can't make the live event, pre-submit your questions now on the eSpeak site.
Mark will be able to address them during his eSpeak, and you can see his
answers in the transcript after the event.

ethink.enron.com


Attached for your information is the results from our Unify Team's
brainstorming sessions yesterday.  I appreciate every ones' active
participation and cooperation in coming up with good ideas and action
items.


Carey told me that he has already talked to Jennifer.  He should be able to
give you any information you need.

Daren


Please print 4 execution copies of this from my o drive

Clarksdale/MDEA ILA/extension May 29

Please date the letter today.

Thanks,

kay


We wish you the best for your vacation!  I hope the rest of the Credit Group
maintains the high standard of diligence and promptness that you have
established.


Barry,  Attached is the GTC form without any revisions for any credit language.  Darren will be getting back with me shortly on the credit issues.


---------------------- Forwarded by Scott Neal/HOU/ECT on 11/12/2000 07:09 PM
---------------------------

Anne Labbe@ENRON
11/10/2000 01:47 PM
To: Andrew H Lewis/HOU/ECT@ECT, Andrea Ring/HOU/ECT@ECT, Brad
McKay/HOU/ECT@ECT, Chris Germany/HOU/ECT@ECT, Dan Junek/HOU/ECT@ECT, David W
Delainey/HOU/ECT@ECT, Dick Jenkins/HOU/ECT@ECT, Felecia
Russell/Corp/Enron@ENRON, Fletcher J Sturm/HOU/ECT@ECT, Frank
Ermis/HOU/ECT@ECT, Geoff Storey/HOU/ECT@ECT, George D Smith/NA/Enron@ENRON,
Hunter S Shively/HOU/ECT@ECT, Ina Rangel/HOU/ECT@ECT, Jane M
Tholt/HOU/ECT@ECT, Jared Kaiser/HOU/ECT@ECT, Jay Reitmeyer/HOU/ECT@ECT, Joe
Parks/Corp/Enron@ENRON, John Arnold/HOU/ECT@ECT, John Craig
Taylor/HOU/ECT@ECT, John J Lavorato/Corp/Enron@Enron, Judy
Townsend/HOU/ECT@ECT, Kate Fraser/HOU/ECT@ECT, Kay Chapman/HOU/ECT@ECT, Keith
Holst/HOU/ECT@ect, Kelli Stevens/HOU/ECT@ECT, Kevin Ruscitti/HOU/ECT@ECT,
Kimberly Hillis/HOU/ECT@ect, Kimberly Brown/HOU/ECT@ECT, Larry
May/Corp/Enron@Enron, Lisa Kinsey/HOU/ECT@ECT, Mark Frevert/NA/Enron@Enron,
Martin Cuilla/HOU/ECT@ECT, Matthew Lenhart/HOU/ECT@ECT, Matt
Smith/NA/Enron@ENRON, Maureen Smith/HOU/ECT@ECT, Mike Maggi/Corp/Enron@Enron,
Peter F Keavey/HOU/ECT@ECT, Phillip K Allen/HOU/ECT@ECT, Airam
Arteaga/HOU/ECT@ECT, Randall L Gay/HOU/ECT@ECT, Robert Superty/HOU/ECT@ECT,
Robin Barbe/HOU/ECT@ECT, Sandra F Brawner/HOU/ECT@ECT, Sarah
Mulholland/HOU/ECT@ECT, Scott Goodell/Corp/Enron@ENRON, Scott
Hendrickson/HOU/ECT@ECT, Scott Neal/HOU/ECT@ECT, Susan W Pereira/HOU/ECT@ECT,
Sylvia S Pollan/HOU/ECT@ECT, Tammi DePaolis/Corp/Enron@ENRON, Mike R
Dunn/ETOL/EU/Enron@ENRON, Victoria Versen/HOU/ECT@ECT
cc:
Subject: Open Enrollment for 2001 benefits ends Nov. 15th

The final window for making your 2001 benefits elections or changes ends
11/15 at 5 pm.  If you do not elect to make any changes, your 2000 health
benefit elections will rollover for 2001.

If you still need to make changes, logon to www.enron.benefitsnow.com or call
1-800-425-5864.  You will need your PIN number that is printed on your
personal worksheet to access the web and hotline.

If you have any questions, please call the Benefits Dept. directly at x37979,
option 1, or Anne Labbe, at x57809.


---------------------- Forwarded by Randall L Gay/HOU/ECT on 03/10/2000 03:20
PM ---------------------------

Matthew Lenhart
03/10/2000 01:24 PM
To: Tori Kuykendall/HOU/ECT@ECT, Randall L Gay/HOU/ECT@ECT
cc:
Subject: Re: Jokes

---------------------- Forwarded by Matthew Lenhart/HOU/ECT on 03/10/2000
01:24 PM ---------------------------

"DARRAH, SHAWN" <sdarrah@entergy.com> on 03/10/2000 08:09:56 AM
To: "'tbda@dynegy.com'" <tbda@dynegy.com>, "'jhcl@dynegy.com'"
<jhcl@dynegy.com>, "'samm@dynegy.com'" <samm@dynegy.com>,
"'shusser@enron.com'" <shusser@enron.com>, Alex Schott <aschott1976@cs.com>,
Beth Holladay <bholladay@trinityno.com>, Brad Rodrigue <brodrig@lsu.edu>,
Brandon Cambre <bcambr@lsumc.edu>, Brian Maziarz <maziarz@bellsouth.net>,
Chad Landry/HOU/ECT@ECT, Jacques Peltier <jpelti@lsumc.edu>, Kenny Kilinski
<kenk@kw.com>, Larry Centola <lcentol@lsu.edu>, Matthew Lenhart/HOU/ECT@ECT,
Missy Tassin <ntassin@aol.com>, Mitch Marcantel <MMMarcantel@equiva.com>,
Ryan Casey <rcasey@baxglobal.com>, Tim Blanchard <tblancha@enron.com>, Tim
Dietz <tdietz@allstate.com>, Val Generes <val.generes@ac.com>
cc:

Subject: Re: Jokes

Here are some one-liners for people to enjoy, maybe you've heard them but
I'm a BIG Rodney fan.

Bu-bye

Rodney Dangerfield's Material...
 _______________________________________

 I was so poor growing up...If I wasn't born a boy.... I'd have nothing to
 play with.

 A girl phoned me the other day and said .... "Come on over, there's nobody
 home." I went over. Nobody was home.

 During sex, my girlfriend always wants to talk to me. Just the other night
 she called me from a hotel.

 One day as I came home early from work ..... I saw a guy jogging naked. I
 said to the guy .... "Hey buddy, why are you doing that?" He said,
 "Because you came home early."

 Its been a rough day. I got up this morning ... put on a shirt and a
 button fell off. I picked up my briefcase, and the handle came off. I'm
 afraid
 to go to the bathroom.

 I was such an ugly kid........When I played in the sandbox the cat kept
 covering me up.

 I could tell that my parents hated me. My bath toys were a toaster and a
 radio.

 I was such an ugly baby ... My mother never breast fed me. She told me
 that she only liked me as a friend.

 I'm so ugly ... My father carries around the picture of the kid who came
 with his wallet.

 When I was born .... the doctor came out to the waiting room and said to my
 father "I'm very sorry.......We did everything we could......But he pulled
 through."

 I'm so ugly ... My mother had morning sickness.......AFTER I was born.

 I remember the time I was kidnapped and they sent a piece of my finger to
 my father. He said he wanted more proof.

 Once when I was lost ..... I saw a policeman and asked him to help me find
 my parents. I said to him .... "Do you think we'll ever find them?" He said
 "I don't know kid ... there are so many places they can hide."

 My wife made me join a bridge club. I jump off next Tuesday.

 I'm so ugly ... I worked in a pet shop, and people kept asking how big I'd
 get.

 I went to see my doctor. "Doctor, every morning when I get up and look in
 the mirror, I feel like throwing up. What's wrong with me?" He said "I
 don't know but your eyesight is perfect."

 I went to the doctor because I'd swallowed a bottle of sleeping pills. My
 doctor told me to have a few drinks and get some rest.


SDG&E also said yesterday that it received "several" proposals from power
companies to provide fixed future prices for electricity, which involve
long-term contracts touted by power companies -- a "market solution" to the
rate roller coaster residents have experienced.

The utility declined to provide a precise number of proposal details but
said it would evaluate the offers over the next two weeks and make
recommendations to regulatory authorities. Peace said earlier that Enron is
expected to be a bidder, offering a fixed price about 50 percent above
rates of last May.


MEMORANDUM TO ISDA REGULATORY CONTACTS

ISDA is currently finalizing plans for its Annual General Meeting in
Washington, D.C., April 3-6, 2001, and we wanted to send you a note letting
you know that we will be offering an informative program that will be of
particular interest to those following regulatory developments.

Senator Richard Lugar, the U.S. Senate sponsor of the Commodity Futures
Modernization Act of 2000 legislation containing key legal certainty
provisions for OTC derivatives products, will deliver a keynote speech on
Wednesday, April 4th. William McDonough, President of the Federal Reserve
Bank of New York is also scheduled to deliver a keynote address focusing on
the Basel Accord.  A special panel on global derivatives public policy
issues is scheduled for Thursday's general session.  Panelists will provide
insight on current and future regulatory developments in Europe and the
United States.  There are also plenary sessions covering Latin America and
Asia, which will have a regulatory and policy focus.  Informative breakout
sessions are also planned.  In one of the afternoon panels, member firms
will present an in-depth panel discussion covering current developments in
the derivative markets with respect to weather, energy, electricity and
bandwidth.  The impact of changes in law and regulation will be discussed in
the afternoon Netting, Documentation and Risk Management panels. The
afternoon session relating to equity derivatives will include discussion on
accounting treatment and U.S. commodity law changes.

The rest of the agenda is equally exciting, including panel discussions on
the influence of e-business on derivatives and on e-trading systems for
derivatives as well as regionally based panels.  We believe that, in the
light of new regulatory changes this is an important year to attend the ISDA
Annual General Meeting.  Of course, the AGM offers a variety of exciting
social events and the ability to exchange ideas with over 600 industry
professionals.  This year's afternoon breakout sessions, as discussed above,
will allow you the opportunity to focus on issues of particular relevance to
your area of expertise and benefit from sharing thoughts with your industry
peers.

Look for the brochure describing the program.  You may also visit our
website at www.isda.org for more information on the AGM agenda and
registration details.  We hope to see you there.

Stacy Carey

Policy Director


Here's the first draft re the deal which needs structuring help:

Please let me know when you are available to meet on this.

Thanks,

Kay


$75/bottle on the Silver Oak Alexander Valley and the Caymus. $100/bottle on the Silver Oak Napa Valley and Montelena. I'll gladly deliver it to your wine cellar or storage. If you have another price in mind then let me know.

 -----Original Message-----
From: 	Whalley, Greg
Sent:	Tuesday, November 06, 2001 8:58 AM
To:	Leach, Doug
Subject:	RE: wine

do you have an offer?  either individually or on the package?

 -----Original Message-----
From: 	Leach, Doug
Sent:	Tuesday, November 06, 2001 7:22 AM
To:	Whalley, Greg
Subject:	wine

Greg--I know you like good wine and I am selling some of my California Cabs. If you have any interest here is what I have:

'92 Silver Oak Napa Valley  2 bottles
'93 Silver Oak Napa Valley  17 bottles
'94 Silver Oak Napa Valley  3 bottles

'91 Silver Oak Alexander Valley  18 bottles
'92 Silver Oak Alexander Valley  3 bottles
'93 Silver Oak Alexander Valley  12 bottles
'94 Silver Oak Alexander Valley  29 bottles

'94 Caymus Napa Valley  48 bottles

'96 Chateau Montelena  12 bottles

All of the wine listed above has been stored in a wine locker at 55 degrees since it was purchased.


Attached is the compilation of customer comments from the NNG customer meeting.  I have made a rough attempt at categorizing them.  Many of these concerns were discussed in the process improvement sessions.  There will be follow up meetings to prioritize and address these issues this week.  Please take some time to review these comments.


It's been a real pleasure working with everyone.

Susan Trevino
home - (713) 688-6186
cell - (832) 452 5805

strevino6186@yahoo.com

 -----Original Message-----
From: 	McKinney, Hal
Sent:	Friday, November 30, 2001 2:48 PM
To:	Abel, Chris; Wilson, Shona; Luong, Anita; Thibodeaux, Kenneth; Allison, John; Trevino, Susan; Hernandez, Nancy; Schultz, Cassandra; Adams, Aaron; McClure, Zakia; Ramesh, Ganapathy; Considine, Keith; Lim, Francis S.; Husain, Karima; Prejean, Frank; Bruce, Michelle; McLaughlin Jr., Errol; McDowell, Shirley; Scott, Susan M.; Couch, Greg; Barrington, Paul; Johnson, Luchas; Quigley, Dutch; Schulte, Vanessa; Wang, Huei-Ying; Jones, Brad; Shea, Alex; Brewer, Charles
Subject:	Contact Info

(Just in case...) I have enjoyed working with all of you talented people.

Good Luck & Thanks,

Hal McKinney
work - (713)345-3707
cell - (281)773-7982

hmckinney3@yahoo.com


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

The NYISO is reserving hours beginning 2 and 6 in the September 29,
2001 Real-Time Market as well as the following hours per ECA
20010908B to verify prices:

HQ:   2-3, 16
NE:   16
OH:   16
PJM:  16

Prices in the September 30, 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


Carol St Clair is scheduled to attend:

Enron North America Orientation
Class Days and Times:
  6/15/2000  08:30:00 AM - 04:00:00 PM

If Carol St Clair is unable to attend this class, the registration must be
canceled by 5:00 p.m. on June 9, 2000 to prevent a charge of $ 300 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.


Julie Pickard <JPickard@softrax.com> on 10/24/2000 05:16:08 PM
To:
cc: SOFTRAX Mkting <Marketing@softrax.com>, Scott Schults
<SSchults@Softrax.com>, Wes Reuning <WReuning@Softrax.com>, Greta Krupetsky
<GKrupetsky@softrax.com>, "Robert O'Connor" <ROConnor@Softrax.com>, "Sue
O'Leary" <SOLeary@Softrax.com>
Subject: Revenue Recognition Seminar and Cocktail Reception Invitation fro m
SOFTRAX

 If you wish to be removed from this mailing list  - please reply and
type the word "remove" in the subject line.

 SOFTRAX Corporation is pleased to invite you to a Financial
Roundtable discussion on Revenue Recognition.  This seminar is free of
charge.

 Seats are limited, so if you are interested, please contact Julie
Pickard (jpickard@softrax.com) to indicate that you will be attending no
later than Monday November 6, 2000.  We look forward to seeing you!  Please
include your full name, company name, title, email address and phone number.

 Issues in Accounting for Software and Internet Activities
 Sponsored by: SOFTRAX Corporation

 Presenter:     Ashwinpaul C. Sondhi, PhD
 When:     Wednesday, November 15, 2000; 3:00
PM-5:30 PM
       Cocktail Reception
to follow 5:30 PM - 7:00 PM
 Where:      Omni Austin Hotel, 700 San
Jacinto at 8th Street, Austin, TX 78701.  512.476.3700
       Seminar is held in
the Congress Room
       Reception is held in
the Chambers Room

 Who Should Attend: Controllers, CFO's, CPA's, VC's, and those
charged with any aspect of financial reporting for companies

 RSVP:     Jpickard@softrax.com   (by Monday
November 6, 2000)

 In this discussion you will learn the latest about:

* EITF 00-3: Application of AICPA SOP 97-2 to Arrangements that
Include the Right to Use Software stored on Another Entity's Hardware.
* EITF 99-17: Accounting for Advertising Barter Transactions
* EITF 00-2: Accounting for Web Site Development Costs
*  Revenue recognition
*  Recognition of ad revenue with "hits"
*  "impression" guarantees
*  Transparency of deferral
*  Reporting for barter transactions
*  Classification of expenses between operating
*  categories and segment reporting
*  AICPA Technical Practice Aid on rebates and heavily
* discounted introductory offers, plus models to determine how much
this
* practice really costs
*  Deferred revenue and sales growth
*  Handling cost of service outages
*  An update on pooling

 About the Speaker:
 Ashwinpaul (Tony) C. Sondhi, PhD received his PhD in Accounting and
Economics/Management Science in 1985 from New York University. His research
has been published in several accounting and finance journals.

 Mr. Sondhi is co-author of:
  * The Analysis of Financial Statements, 1998
  * Impairments and Write-offs of Long-Lived Assets
  * CFA Readings in Financial Statement Analysis

 He has also edited:
  * Credit Analysis of Nontraditional Debt Securities
  * Off-Balance Sheet Financing Techniques

 Sondhi is a member of the Financial Accounting Policy Committee of
the AIMR and has served on the committee of the AICPA, the FASB, and the
International Accounting Standards Committee.  He was an advisor to the FASB
on its project comparing U.S. and International Financial Reporting
Standards.  He taught at New York University, Columbia University and at
Georgetown.  He is currently a Visiting Professor at Stockholm University,
Sweden and Copenhagen Business School, Denmark.
 Sondhi serves on the board of directors of two mutual funds and is
an advisor to several US and Foreign companies.  His consulting activities
include valuation, comparative analysis of financing and capital structure
alternatives, creation and operation of finance, securitization,
intellectual property, and investment subsidiaries, analysis of covenants
and development of debt agreements.


Start Date: 4/16/01; HourAhead hour: 20;  No ancillary schedules awarded.
Variances detected.
Variances detected in SC Trades schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001041620.txt

---- SC Trades Schedule ----
+++ Hour 20 - bad data from ISO.
  TRANS_TYPE: FINAL
  SC_ID: EPMI
  MKT_TYPE: 2
  TRANS_DATE: 4/16/01
  TRADING_SC: PGAE
  PNT_OF_INTRC: NP15
  SCHED_TYPE: ENGY
  PURCH_SALE: 2
  DEAL_NO: 1


I think a meeting would probably be a good idea as well.  If I understand the Corporate solution properly, I like the idea of having a substantial amount of detail that we can consolidate for rate case purposes, rather than having to go begging when the time comes.  However, we don't want to lose sight of the fact that we will need this kind of detail if and when they do an annual true-up. Also, I am curious as to how allocating EPSC costs to the cost centers would result in a cost savings.  Tim

 -----Original Message-----
From: 	Chandler, Bob
Sent:	Tuesday, October 23, 2001 11:38 PM
To:	Thompson, Debra; Brennan, Patrick; Kissner, Tim; McEllin, David; Walters Jr., Harry; Zahn, Gary
Cc:	Lokey, Teb
Subject:	RE: Intercompany Billings Follow-Up

I haven't heard from Tracy on this.  However, I prefer the option of having epsc charges go to a cost center OR FAR order, depending on how the cost center owner manages assessments.  A meeting would probably be a good opportunity to work through these issues. I'm not sure that everyone (including me) understands all the implications.

 -----Original Message-----
From: 	Thompson, Debra
Sent:	Tuesday, October 23, 2001 4:50 PM
To:	Brennan, Patrick; Chandler, Bob; Kissner, Tim; McEllin, David; Walters Jr., Harry; Zahn, Gary
Cc:	Lokey, Teb
Subject:	Intercompany Billings Follow-Up
Importance:	High

Corporate Charges
	Tracy Geaccone has suggested (and discussed with Terry West in Corporate Planning) that the pipelines be allowed access to the 2002 Plan once it has been loaded in SAP for the Corporate cost centers that bill us. The Plan would be recorded by GL account within each of the applicable cost centers.  Corporate prepares a schedule that shows which cost centers bill us, the methodologies used and the amounts billed.  It would be quite an undertaking because of the number of Corporate cost centers involved, but each of the pipelines would be able to derive a FERC breakdown using the Plan, plus the schedule from Corporate.  The main issue would be manpower.  Tracy mentioned the possibility of having one of the associate analysts perform this task, but said that the Plan would not be finalized and loaded until probably the end of November.

	Is this an acceptable solution?  Do we need a meeting to discuss this further?  I am still waiting for return phone calls from Enron Networks and Global Finance.  There are just a few Global Finance cost centers that bill us.  However, the method proposed above may also be a solution for Enron Networks billings.

Enron Property and Services Corp.
	The mandate that these billings be recorded in individual cost centers rather than at a company level originated with Tracy Geaccone with a promise of cost savings to Stan.  However, Tracy told me that rather than coding to a cost center, she has requested that the coding be to a FAR order.  I told her that would mean multiple FAR orders.  Her thinking is that each cost center already has a FAR order.  I attempted to describe our use of custom variants.  She said that she would work through Bob Chandler.  If we intend to continue using the custom variants, it would mean creating a large number of new FAR orders.

	Again, is this an acceptable solution?  Do we need a meeting to discuss this further?


We are to large commercials and industrials.

 -----Original Message-----
From: 	Mann, Kay
Sent:	Tuesday, November 27, 2001 6:09 PM
To:	Moore, Janet H.
Subject:	Retail service in Maine

We are considering submitting a bid to provide standard offer service to commercial and industrial end users.  Can you tell me if EPMI is licensed to provide retail service in Maine?  If you aren't the right person, who should I ask?

Thanks bunches,

Kay


Now that we have moved away from the daily problems to fixing procedures and
processes, I am no longer summarizing weekly info, but will continue to track
the daily problems and send these to you daily.  Let me know if you ever need
a summary and I will prepare one for you.

Thanks

Shona


If attending in Omaha, the call will be held in CRoom 697.  If in Houston or Minneapolis, please follow the instructions below:
You are enrolled in CERA's North American Natural Gas Conference Call and Web Presentation, "Gas Market Winter Outlook: Fundamental Questions." on Thursday, October 18, 2001 at 10:00 a.m.CDT
Please be sure to call-in to the following phone numbers for the conference call:
Within the United States: 1-877-691-0877
Confirmation Code: 542780

To view the slides while on the call:
To participate in the internet portion of our presentation (audio is by telephone), log on to the internet approximately 15-30 minutes before the presentation to ensure technological compatibility.
1. Point your browser to http://www.placeware.com/cc/visioncastconferencing
2. Enter the following information, then click "Attend"
? Your Name
? Meeting ID: w542780
? Meeting Key: 934386


Mike:

The retainage will be an obligation of the LLC. I can't imagine that this
would be an issue from a credit perspective. Keep in mind that the LLC will
have a put back to ABB for the transformers at the 30% level as per the
master agreement.

Regards,

Ben

michael.o.sandridge@us.abb.com on 12/10/2000 07:22:00 PM
To: Ben.F.Jacoby@enron.com
cc: frank.chmiel@us.abb.com, david.onuscheck@us.abb.com,
karla.hesketh@us.abb.com
Subject: Re: ABB Transformers - Coral Acknowledgement Letter

Ben,
At first pass I think that this will probably work as long as some one
promises
to pay the retainage (10%).  I will have to of course have to get the
agreement
of Frank and Dave.  I have sent this to both of them and should hear back form
them tomorrow, as should you.
I'll have my computer with me and will be in communication via e-mail.  If you
need me more urgently than that contact either Karla at the office or Kathryn
at
the house.  You haave all the numbers.
MIKE

|------------->
|(Embedded    |
|image moved  |
|to file:     |
|pic28961.pcx)|
|             |
|------------->
  >------------------------------------------------------------------------|
  |Ben.F.Jacoby@enron.com                                                  |
  |12/10/2000 01:45 PM                                                     |
  >------------------------------------------------------------------------|

To:   Michael O Sandridge/Field_Marketing/USTRA/ABB@ABB_USTRA
cc:   Karla Hesketh/Field_Marketing/USTRA/ABB@ABB_USTRA
Subject:  Re: ABB Transformers - Coral Acknowledgement Letter

Security Level:?         Internal

Mike:

After you review the Coral Acknowledgement Letter I sent earlier, it would
be really helpful if you would write me a letter on your letterhead saying
that your prepared to sign the letter when you sign the Facility Agreement.
Attached is some suggested language.

Thanks much,

Ben

(See attached file: ABB - Coral Letter.doc)

 - ABB - Coral Letter.doc
 - pic28961.pcx


---------------------- Forwarded by Tana Jones/HOU/ECT on 12/15/99 06:33 PM
---------------------------

Molly Harris
12/15/99 05:46 PM
To: Frank L Davis/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, Tana
Jones/HOU/ECT@ECT, Samuel Schott/HOU/ECT@ECT
cc: Bob Shults/HOU/ECT@ECT, Amelia Alland/HOU/ECT@ECT, Mark
Taylor/HOU/ECT@ECT, Bernice Rodriguez/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT,
Brant Reves/HOU/ECT@ECT, Debbie R Brackett/HOU/ECT@ECT, William S
Bradford/HOU/ECT@ECT, Brian Hunter-Lindsay/LON/ECT@ECT, Ian
Sloman/LON/ECT@ECT, Coenraad Basson/LON/ECT@ECT, Bhautik Patel/LON/ECT@ECT,
David Hardy/LON/ECT@ECT, David Weekes/LON/ECT@ECT
Subject: EOL Credit Responses 12/15

Please find attached Credit's EOL responses for 12/15.

Regards
Molly


Stacey,

I enjoyed visiting with you at lunch.  Enron, as we once knew it, is not the same without you.  Here is the URL address for the Hewitt Associates LLC, Enron's Savings Plan Administrator that I promised http://resources.hewitt.com/enron/

The telephone number for Hewitt Associates LLC is 1.800.332.7979.

Take care.

Richard

-----Original Message-----
From: Stacey Bolton [mailto:boltonstacey@hotmail.com]
Sent: Thursday, January 24, 2002 4:02 PM
To: Ring, Richard
Subject: thanks!

It was GREAT to see you today.  Thanks again for lunch.  I really enjoyed
catching up.  Let's get together again soon.

Best -
Stacey

PS GO HOME!!!  It's 4:00 p.m.

_________________________________________________________________
Get your FREE download of MSN Explorer at http://explorer.msn.com/intl.asp.


Greg,
 I am mailing to you a copy of the unwind/rebook summary for the Trigen
deal.  When this was rebooked in 1998, Elsa Piekielniak
would not sign off on it unless there was a plant prudency incase the plant
went down for force majeure or maintenance.  This was $1,200,000.
Per the worksheet I have mailed to you, it shows thawt $1,200,000 was set
aside in schedule c.

 Here is my question - what ever happened to the $1,200,000?  Is is still
around?  The reason I am asking is because the plant has gone
down this year.

 Thanks for your help,

 Diane x-37059


Thanks -will do. Jean

-----Original Message-----
From: Steffes, James D.
Sent: Tuesday, October 23, 2001 10:42 AM
To: Ryall, Jean
Subject: RE:

Thanks.  If you need any additional support pls let me know.  Also, pls send my best to Thane and his family.

Jim

-----Original Message-----
From: Ryall, Jean
Sent: Monday, October 22, 2001 6:55 PM
To: Steffes, James D.; Dernehl, Ginger; Shapiro, Richard
Subject:

Thane's daughter, Sarah, is in Texas Children's Hospital.  I spoke with Thane this afternoon, Sarah will have surgery tonight.  The surgery is exploratory in nature, as well as repair of her broken leg. She has been in a great deal of pain since last night.

This has been and continues to be a very difficult time for Thane and his wife, Linda. I sent a doll to Sarah, she is three years of age, from the American Girl Collection on behalf of governmental affairs.  Jean


Notice # 01-389
November 19, 2001

TO:
All Members, Staff and Occupants of One North End Avenue

FROM:
Vincent Viola, Chairman
J. Robert Collins, Jr., President

SUBJECT:
On-Going Air Quality Testing

Air Quality Update
Air quality testing within One North End Avenue has been and will continue
to be the first priority of this Exchange.  As we previously indicated, the
Exchange has engaged Ambient Group, Inc., an extremely reputable independent
laboratory specializing in this area, to monitor the Exchange's air quality.
The Exchange has also taken a pro-active approach on testing for dangerous
chemicals outside the building.  Air quality tests were performed on
September 14th, 20th, 26th, October 4th, 9th, 12th, 18th, 23rd, 26th, 30th,
November 6th,  8th and, to date, all results have been well below the EPA,
OSHA, ASHREA, and ACGIH levels.

The air samples collected were tested for over 300 types and/or isomers of
chemicals including transmission electron microscopy (TEM) for asbestos
structures, polynuclear aromatic hydrocarbons, Acenaphtene, Acenaphthylene,
Anthracence, Benz (a) anthracene, Benz (a) pyrene, Benzo (b) fluorathene,
Benzo (ghi) perylene, Benzo (k) fluoranthene, Chrysene, Dibenz (a,h)
anthracene, Fluoranthene, Flourene, Indeno (1,2,3 cd) pyrene, Napthalene,
Phenanthrene, Pyrene, Cadmium, Chromium, Copper, Iron, Lead, Manganese,
Nickel, Silica and Zinc.

Ambient Group, Inc., has also secured a high-volume air sampling monitor
that tested for air borne chemicals outside the building including
chlorinated dioxins, PCBs, brominated dioxims and polycyclic hydrocarbons
(PAHs).  The results from these reports indicated that the levels of these
individual compounds are below their respective standards and guidelines.

All test results are posted and made available to all building occupants on
a weekly basis.

Should you have any questions, please don't hesitate to contact Elliot
Zuckerman, Property Manager, at (212) 299-2242.


Comments about AEI conf on Oct 22,  2001.

I am NOT AFRAID nor in "Denial."

I know this "War" is fake and that the intel  community allowed this attack, cultivated "IT" like a bitter fruit.

Do you really have no sence of  history?

The Anthrax comes from BioPort labs, its intention  is to stifle any decent in the "Liberal Elite."

War on Terror is not the endgame  anyway.

This is: www.disclosureproject.org

Be Ready.

After this dictatorship is overthrown You will be  accountable for your actions at this time.

You personaly, I will make sure of it.

However,

You Can help if you want to and can find the  strength,

YOU can do something about this, ur  elite.

So PLEASE just try  and stop it.

Are you SO Comfortable that you have no ethics  anymore?

Are you really now planning on killing  everyone in Congress?

I thought they would play-ball after the Anthrax  "Scare."

I remember pri conf on "Lets Admit That  PaxAmericana is an Empire."

You all are so prophetic.

You won't get away with it in the long run, but SO  MANY people are going to get hurt in the process of over-throwing the elite  class.

Btw, I am a descendant of George Washington's Bro,  so this is coming from a member of a founding family, you should think about  that.

Or just snort more Prozac, shrug.

I am a dedicated Buddhist so I am not able to join  the Elite and act on this.

We need your help.

Please help.

Ok, remember, I asked.

Best Regards,

David L Washingtonwww.carbonflux.org


more...
---------------------- Forwarded by Kay Mann/Corp/Enron on 08/29/2000 10:17
AM ---------------------------
From: Brian Kerrigan@ECT on 08/29/2000 10:16 AM
To: Kay Mann/Corp/Enron@ENRON
cc:

Subject: Re: VEPCO contact list

Brian Kerrigan
tel :   713-853-9849
fax :  713-646-3602
email :   brian.kerrigan@enron.com
location :  EB 2879

To: Reagan Rorschach/NA/Enron@Enron, John Moore/Corp/Enron@Enron, Christi L
Nicolay/HOU/ECT@ECT, Terri Austin/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
nwodka@bracepatt.com, Lloyd Will/HOU/ECT@ECT, Larry Soderquist/HOU/ECT@ECT,
Matthew F Gockerman/HOU/ECT@ECT, Chris Herron/Corp/Enron@Enron, Mitch
Robinson/Corp/Enron@Enron, Gautam Gupta/HOU/ECT@ECT, Brian
Kerrigan/HOU/ECT@ECT
cc: Ozzie Pagan/HOU/ECT@ECT, Heather Kroll/HOU/ECT@ECT, Jeffrey
Keenan/HOU/ECT@ECT, Tom Chapman/HOU/ECT@ECT, Herman Manis/Corp/Enron@ENRON
Subject: VEPCO contact list

I'm going to have an updated contact list prepared.  Please email me with
your telephone, location, email address, and cell phone number, if desired.

Please let me know who should be added to this list.

If you are receiving this vis a cc, I have your information.

Thanks,

Kay


Theresa:
Do you know when the Citizens numbers will be ready for Oct. 2001?  I'm trying to get them billed before the holidays.

Thanks,
Megan


Jennifer,
I just checked with Carolyn on your invoicing for the conference.  She
verified the 85K was processed.
Colleen


Gentlemen, attached is a first cut on the offering memo for the Gomez lateral.  My intent on the sale process is this:

1. Offer memo sent to prospective buyers
2. Buyer submits non-binding bid late March / early April
3. TW reviews bids, those accepted must sign confidentiality agreements to do site visit / record review.
4.  Buyer submits binding bid / TW negotiates final sale subject to Creditor Committee approval

For the offer memo, I need you to review the brief for any material mis-statements.

Bill - please review item 6 for completeness.
Dean - please review item 2 for accuracy & completeness.

If you have questions, I can reached at 713-853-5559, or on my pager at 888-582-7421.  I will be out of pocket until Thursday 3/14 but will check messages.

thanks for the help!


Hi Tanya,

I think using the 60 business day fwd fwd vols based on historical data is
reasonable, to ensure consistency with the amount of data we use to estimate
the eigenvalues.  I am just finishing the correlations study.

Regards,

Anjam
x35383

ZINC:

LEAD:

ALUMINUM H:

ALUMINUM S:

TIN:

COPPER:

NICKEL:


Dear Mr.Lay,

I hope this email finds you looking forward to the approching holiday
season. I thought I would take this opportunity to drop you a quick email
and express my interest in Enron for my future. My name is Dulari Mehta and
we first met at the Davenport Society Dinner in October at the University of
Missouri-Columbia. I was escorting Mr. Walker and I was sitting at your
table. I again had a chance to speak with you at the Mosaic Society Dinner
in November. On both occasions I enjoyed speaking with you and exchanging
ideas about India.

As this semester closes and I begin to plan my next one, I am looking at
opportunites that await me once I graduate in May of 2001. I have spent some
time looking at your website and I am very intersted in Enron as a possible
place to work. I am especially interested in your project management area
and/or international opportunities. I have attached my resume to this email.
I would love to hear from you as to your thoughts on my resume and a
possible future at Enron.

All my current and permanent contact information is on my resume. I will be
out of the country and in India from December 22 to January 13. I hope you
and your family have a wonderful holiday season. I very eagerly await
hearing from you.

Thank you for you time and consideration,
Dulari Mehta

 - Resume2.doc


Dear All,

Following Mark's and David's request for the due diligence questionnaires
that we have used in Europe for EOL, I am pleased to attach the following:

1. Questionnaire regarding internet trading
2. Questionnaire regarding commodity derivatives trading

A couple of points I'd like to make:

- the internet questionnaire refers to the European Economic Area "passport"
(entitling you to trade in one EEA country by vitue of being regulated by
another EEA country). Obviously this is not appropriate for S. America or
Oceania and Asia. It is possible that you have some similar mechanism.
- the energy commodity questionnaire considers commodity derivatives trading.
This questionniare was only sent to local counsel in jurisdictions for which
we had not already undertaken derivatives due diligence.  In respect of
physical commodity trading, based on the due diligence we have done to date
in Europe, we have not undertaken any further due diligence for trading via
EOL. If you feel that you need to undertake any physical trading due
diligence, we have a set of questionnaires which I would be happy to pass on
to you to use as you see fit.

Please feel free to contact me if you have any queries or questions about any
of the above - otherwise, happy hunting!

Best regards, Edmund.

To: Justin Boyd/LON/ECT@ECT, Edmund Cooper/LON/ECT@ECT
cc:
Subject: Local Counsel Questions

Can you guys please send over a copy of the questions that were submitted to
local counsel in Europe relating to the online trading project?  Alan needs
it for Australia and Louise has asked me to deal with Columbia.

Thanks,

Mark


This Order

Agenda
01
02
03
04


Jaime,  Attached is a firm sales agreement form which ECT utilizes in  North
America.  A lot of the form may not be relevant given the fact that (i) Pemex
is both the seller and transporter and (ii)  unless you are near the border,
there are no alternative sources to Pemex.  However, it is a good starting
point.  Let me know if you have any questions.


Good My Love,

    It is always a pleasure hearing from you. It is ironic that you e-mailed
me, I was on the computer and Aunt Pat asked me am I talking to you, and just
as her words came out, the computer chimed in and said you got mail. I check
it and low and behold there you were, My grandma Klumps Renee Davis.
     I got your e-mail Saturday and I ironed out the error in my web site,
therefore you can e-mail me at CHARLES200064@aol.com.
    I am going to place you on my buddy list so we can chat online. Write me
back when you get this message.


Please give the following people access to this Database
Kay Mann
Carol St Clair

Thanks.
---------------------- Forwarded by Rhonda L Denton/HOU/ECT on 05/07/2001
01:57 PM ---------------------------
From: Genia FitzGerald on 05/07/2001 01:43 PM
To: Rhonda L Denton/HOU/ECT@ECT
cc: Carol St Clair/HOU/ECT@ECT
Subject: CP&L EEI Master

Rhonda,

Please advise on the database access.

Thanks,
Genia
----- Forwarded by Genia FitzGerald/HOU/ECT on 05/07/2001 01:42 PM -----

	Carol St Clair
	05/07/2001 01:09 PM

		 To: Genia FitzGerald/HOU/ECT@ECT
		 cc:
		 Subject: CP&L EEI Master

Genia:
Could you please send me the latest draft of the above Master as it is not
clear from the file whether a new draft responding to their 1/31 comments was
ever sent?  Also, has Rhonda set me up for access to the database?

Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com