ADMINISTRATIVE

2001 EHS Performance Targets - EHS Global Asset Operations has been working
with the regions to develop EHS performance targets.  Targets will presented
to Regional Senior Management next week.

Constellation Energy EHS Benchmarking - The EHS group in response to a
request met with Constellation Energy representatives and described Enron's
EHS management system in a four hour session in Houston.

EHS Enron Corp. Website - The website was activated at the end of Dec. 2000.
Since then approximately 400 users have visited the site registering
approximately 39,000 inquiries.  Visitors are internal as well as external.

Conservation Committee - The Enron Conservation Committee met on Jan. 24 to
begin their activities for 2001.  An aggressive work plan was agreed on.
Increased corporate visibility strategy was established.

EUROPE, INDIA and ASIA

EHS Conservation Survey  - Bal Wong and Alan Stringer working with facilities
to complete the conservation survey.  This survey will gather information
about energy usage and waste management practices at their facilities.   The
information will be used to develop energy and material conservation
initiatives.

UK, Severnside Project ) Alan Stringer supported UK Engineering team in
assessing whether any guidelines exist for distance for development from
underground cables.

Spain, Arcos Project ) Alan Stringer supported Enron Spain in gathering
information on air impacts on vineyards.

Asia, 2001 EHS Support Plan  ) Alan Stringer and Bal Wong prepared the 2001
EHS Support Plan.  The plan will be submitted to Asia Region Senior Mgmt.

Guam, Marianas Energy Co.  - Bal Wong provided orientation about the spill
plan (SPCC) to the  Operations Department and completed the plant weekly
inspection.  Also assisted in a fire drill, which include respiratory
protection training.

CALME

Panama, Bahia Las Minas Power Plant (BLM) - Donnie Willmann, Gus Eghneim,
Bill Curra, and Ramiro Garcia completed a fatal flaw analysis for a potential
expansion project in Panama involving the addition of 3 internal combustion
engines at BLM.  Preliminary results indicated that actual emissions
monitoring should be conducted to confirm ambient air quality (estimated
emission factors used show the proposed project would not meet SO2 ambient
air quality standards.  BLM agree to conduct the emissions monitoring in
February.

SOUTH AMERICA

Brazil, Cuiaba - Edgar Zuleta completed the implementation of the emergency
action plan for Bolivia Cuiaba Pipeline.

OEC / NORTH AMERICA

Quebec, Canada, Daishowa Paper Manufacturing Co. - Scott Watson participated
in the Enron Corp. EHS Overview presentation  to Eric Conner (Enron North
America).

Mobile Energy Services Company - Scott Watson provided presentation material
requested by Sappi regarding 1). Safety Statistics for existing managed OEC
facilities and 2). OEC,s Safety Vision and Safety/Health Program.  This is
part of the  transition process.  OEC to operate this paper mill on April
1st, 2001.

Enron North America, Crisis Management Plan - Scott Watson prepared a Crisis
Management Plan Template for Enron (ENA) attorney Peter del Vecchio.

New Jersey, Garden State Paper Company - Scott Watson contacted Marty Blick
(Acting General Manager) on 1/23/01 to discuss Enron,s Corporate EHS
Services.  Scott Watson scheduled to conduct an EHS Audit during the 1st
Quarter of  2001 at this facility.

EES - Power Distribution Project - Gus Eghneim is supporting the
environmental permitting activities for several western power distribution
projects. The work includes developing permitting scenarios for several
states and for various types of applications.

ENA, Cleburne Cogeneration Plant - Gus Eghneim is reviewing a draft Title V
permit issued by the TNRCC.  Comments will be submitted to the State and the
facility by January 29, 2001.

Enron Transportation Services, Cunningham Compressor Station - Gus Eghneim is
reviewing a PSD permit application developed for Cunningham compressor
station to allow for 100% natural gas firing.

GREENFIELD CAPITAL PROJECTS

UPDATES APPEAR IN BOLD BELOW:

RioGen/Eletrobolt PPs (Brazil)- Joe Kolb reports that permitting continues to
proceed quickly.  A public meeting for the area where the pipeline will be
constructed will occur shortly.  There are still issues with Petrobras and
CEG to work out.  It could be that the pipeline will not be constructed as
quickly as needed.

Metgas Pipeline (India) - Susan Worthen confirmed with Lauren Iannarone that
the Metgas Pipeline has been cancelled due to the lack of customers and most
development team members have been redeployed.

E Power Corp, Japan Power Plant - Joe Kolb met with Brian Stanley last week
to discuss the potential power plant project(s) in Japan.  Brian confirmed
that there are three power plants at three separate locations being
considered (rather than one power plant at three possible locations) and that
each site is at a current industrial/port location.  Joe will coordinate his
review and monitoring of the projects with Alan Stringer (EHS Europe).
Preliminary indications are that it will take up to 7 years to obtain all of
the environmental permits.

Isle of Grain Power Plant (England) ) Joe Kolb completed his review of the
nontechnical summary of the 1998 environmental impact assessment.  The
proposed power plant would be located within an industrial complex, which is
good from an environmental standpoint.  It appears that the environmental
review is being done well.

Project Quail/Tex Mex/Salsa - Joe Kolb reports that this project (known under
various names) involves a 6-mile power line for transporting electricity to
Mexico from the Brownsville, Texas area.  Joe spoke with Dave Kellermeyer
(ENA) and received a project overview.  Joe asked Dave to be particularly
attentive to issues associated with bird collisions with the proposed power
lines.  Dave sent a copy of a letter from the US Fish and Wildlife Service
that expressed similar concerns.

ACQUISITIONS

Project Crane (Quebec, Canada and Port Angeles, Washington Pulp and Paper
Acquisition) - Don Stevens has been informed that Eric Connor (Director,
Enron Industrial Markets) will be managing the transition for EIM.  Eric met
with members of the corporate EHS and Responsibility staff to review our
services.  He will have follow-up meetings directly with Gus Eghneim and
Scott Watson regarding the transition and operations support.  Eric also
expressed an interest in the EHS's assistance in a potential tissue factory
being considered by EIM and will contact Susan Worthen for follow-up.

Military Base Privatization (Maxwell AFB) - RAC Underwriting contacted Susan
Worthen regarding the DASH for Maxwell AFB.  Don Stevens provided follow-up
with the RAC group.

CWT Thermo-Depolymerization (EES New Technology) - Don Stevens submitted the
Environmental Issues Matrix to Bruce Stram, Gene O'Gorman and Susan Worthen.

North Carolina CF Power Plants - Don Stevens reports that ENSR has completed
the monitoring well installations and groundwater/soil sampling at Lumberton
and Elizabethtown.  Analytical results should be available early to mid next
week.

DEPARTMENT PROJECTS
Annual Report - Susan Worthen has received EHS performance data from GAO
Europe and Asia and EES.  ETS and the remaining assets in GAO are expected to
submit data by the end of the month.  Susan discussed possible storylines and
data inputs with Community Relations.  Lauren Iannarone is leading the
coordination with Diversity.  Susan is awaiting the image template
information (from the 10K report) from Dennis Vegas to determine if the basic
concept can be used fro the Corporate Responsibility report.

BMPs -  Susan Worthen discussed with Shell International the prospect of
performing a "peer review" of the Pipeline Construction BMPs.  Joe Kolb will
follow-up with the Shell contacts.  Susan will also extend an invitation to
Conservation International for a similar review.  In addition, there is a
potential to discuss or revise the BMPs over the next year in coordination
with the Biodiversity Forum (see below for discussion).

EHS Web Site - Russ Tucker is providing more ergonomics information that will
be placed on the website. Scott Watson is providing two health and safety
training videos for the web site. These videos are intended to be viewed by
new hires. Gavin Dillingham is persuading Enron Networks of the importance of
having these videos on-line and is pressing for Enron Networks to quickly
finalize a contract with a video streaming vendor.

Telework/NEPI Program - Gavin Dillingham and Catherine Querioga, HR, will be
attending a conference on the morning of January 31st, to gather more
information on telecommuting. After this conference, a meeting will be set-up
with NEPI to push this program along. There has been a positive response from
Work Perks to possibly help pilot this program.

Hybrid Vehicle Program - Gavin Dillingham and a group from HR and the Fleet
Vehicle group will be meeting with Toyota on Monday to finalize discussions
on the discounts that Toyota can provide for Enron employees on the Toyota
Prius. Also, Gavin Dillingham will meet with Bruce Martin and Colleen Raker
of Enron Strategic Sourcing and Lilly Wells with HGAC on Tuesday, January
31st, to discuss further how Enron can implement hybrids into its fleet.

Asset Tracking Database - The database is currently being populated with
data. Susan Worthen will discuss the prospect of a larger EHS audience using
the database to update business unit project information at the next EHS
Direct/Indirect Staff Meeting.

GAO EHS Tracking Database ) Gavin Dillingham is taking on the responsibility
of streamlining this database and improving its workability and capabilities.
b
Biodiversity Forum - Susan Worthen and Catherine McKalip-Thompson attended
the 2nd meeting of the Biodiversity Forum in London last week.  This is a
forum representing 5 NGOs and 5 multinational energy companies.  Enron will
host the next meeting, which has been scheduled for April 19 & 20.  Susan is
co-chairing a work group to draft a paper on the business value of
biodiversity/conservation. This activity allows Enron to develop a positive
response to shareholder proxy requests.

Corporate Responsibility Sub-Committee Meetings - Susan Worthen participated
in several sub-committee meetings in support of the Corporate Responsibility
Task Force.  Mike Terraso was elected to chair the Internal Communications
sub-committee.

Green Sourcing Initiatives - Susan Worthen provided a summary of
GreenOrder.com's capabilities and possible business upsides (for Enron) to
Eric Melvin (EES) and Darryl Cleveland (Global Strategic Sourcing).  A
follow-up meeting with Global Strategic Sourcing will be scheduled to discuss
supplier considerations and possibly setting green sourcing/purchasing
targets.  This meeting will be coordinated with Henry Van as the chairperson
of the Conservation Committee.

EHS Guidelines Revision - The EHS Council sub-committee will meet 02/08/01 to
discuss and agree on the preferred method of revising the EHS Guidelines, as
well as the selection of consultants to submit proposals.

VOLUNTEER ACTIVITIES/COMMUNITY RELATIONS

MOPS 686 Donation - Joe Kolb reports that the Texas A&M meeting on January 12
to review Enron's proposal went well.  The university is pursuing additional
funding sources and participants with the goal of developing a 5-year funding
program.  They expect it will be about the end of March before they report
their results to Enron.

Enron Earth Day Festival - Gavin Dillingham and Charla Reese met with Trash
Bash on Tuesday, the 23rd, to discuss the logistics of leveraging Trash Bash
with the Buffalo Bayou Challenge. Trash Bash provided great information
concerning supplies and how to efficiently and effectively pick-up the trash.
Charla Reese, Gavin Dillingham and Joe Kolb are meeting today to finalize
some of the aspects of this challenge.

REGULATORY TECHNICAL ANALYSIS

Methanol Plant Emission Credits - Marc Phillips provided an evaluation of the
potential value of emission credits for the Enron methanol plant to their
management.

Louisiana Title V Permit Renewals - Marc Phillips provided information from
LMOGA about Title V permit renewals in Louisiana to the appropriate ETS
personnel. Applications for renewal of the permits are required 6 months
prior to expiration, but the state agency is apparently not notifying
companies about this deadline.

Reciprocating Engine Control Technology - Marc Phillips provided ETS
personnel with industry studies about control technology that has been
applied to reciprocating engines, and data that SCR was not an effective
control technology for load-following engines. An ETS station in Kansas could
be subject to PSD regulations and the agency may require SCR technology.

National Academy of Sciences (NAS) Report Issued -  the NAS  study released
1/17/01 justified the need for an ergonomics standard. The report indicates
that MSDs show evidence of being caused by workplace exposures and that
interventions can reduce those exposures and injuries. The importance of this
study is in its being funded by Congress, which now is faced with the
decision to activate the never before used Congressional Review Act in an
effort to send to the President a resolution that would retract the recently
effective OSHA Ergonomics Program final rule.

Three New OSHA Final Rules - Russell Tucker is reviewing 3 new OSHA final
rules issued in the last week. They are the amendments to the Bloodborne
Pathogen standard, amendments to the Employee Injury Recordkeeping rule, and
a completely new Steel Erection standard, all of which are extensive in their
content and importance in their impact on all Enron companies under OSHA
enforcement, except for the Steel Erection standard, which applies to the ECC
and NEPCO operations.

Enron Houston Work Related Injury/Illness/Accident Reporting, Investigation
and Record Keeping Protocol - Russell Tucker is making final revisions to
this protocol for use within the Houston office complex with publication to
the Enron Corp EH&S Intranet scheduled for this week. Revisions reflect
reviews and input from Wellness, Fair Employment, Legal, and Risk Management.

Environmental Strategies Group

Competitive Intelligence

Power/Gas/Emissions Markets -- California Energy Crisis & Emissions
Regulation:  ESG has given high priority to assisting Enron business units in
developing a strategy related to the impact of environmental regulation on
California's energy crisis.  Jeff Keeler provided ENA traders and competitive
analysis groups with information regarding potential federal actions and Bush
administration political pressure for California to ease emissions
requirements on generators.   Jeff also coordinated with Mark Palmer and the
EGM emissions desk in talking to reporters about environmental regulation's
role in the California situation. Mary Schoen will be focusing on California
in the coming weeks, helping to provide intelligence about state/local
actions to change environmental/emissions regulations and leading efforts to
develop innovative solutions to acquiring offsets for new generation
development.  Stacey Bolton's work on renewable energy issues will help Enron
businesses in looking at additional opportunities to provide capacity to
California.  The entire ESG will act as a resource for federal and state
government affairs as they offer policy solutions to the crisis.

Coal/Power Markets - RCRA Coal Ash decision:  On Friday, January 19, a
Federal Court dismissed a lawsuit by environmental groups against EPA's 2000
determination that classified most types of fossil fuel waste as
"non-hazardous" under the RCRA hazardous waste laws.   A decision against EPA
and industry could have imposed greater disposal costs on generators, having
significant impacts on power and coal prices and limiting generators ability
to sell ash for positive uses, such as cement making.   Jeff Keeler advised
EGM coal, ENA power, and PGE of the decision.

Power Markets -- Environmental Disclosure:   Stacey Bolton updated EES on the
New York PSC's progress on developing environmental disclosure regulations
and what Enron's requirements will be.  Stacey also provided the Texas group
information on the proposed label calculation rule and voluntary certificates
market.

Advocacy Coordination and Business Support

Clean Air Act -- Federal Multi-pollutant Legislation:   Jeff Keeler continued
development of strategy on a multi-pollutant cap and trade proposal for
submission to Congress and the new Administration.   Jeff participated in
several industry strategy calls and organized visits of an ad hoc "Clean
Power" group to key staff on Capitol Hill and in EPA.  Jeff interviewed
several law firms and consultants that the group may retain to assist with
technical legislative drafting and lobbying on the multi-pollutant bill.

Climate Change:  Stacey Bolton represented Enron at a Pew Center on Climate
Change seminar in Portland, OR, speaking on Enron's renewable energy
products, regulatory hurdles in the retail renewable market, and the benefits
of renewable energy credit trading.  Stacey made several contacts with
potential customers (Weyerhaeuser & Toyota - manufacturing) that she has
passed along to Enron businesses. Mike Terraso presented Enron's Greenhouse
Gas Inventory methodology.  Jeff Keeler assisted Enron Europe and Government
Affairs in developing final comments to submit to the UK government regarding
their proposed greenhouse gas emissions trading pilot program.  Jeff also
answered inquiries from ENA power developers who are interested in
potentially selling carbon offsets through the purchase additional
land/forest resources along with power projects.

Power Quality:   The entire ESG continues to provide a great deal of support
to the EES Premium Power group as they develop and implement their business
plan to provide power quality and distributed generation services to
customers in the high-tech area.  Mary Schoen worked on evolving
environmental regulations regarding distributed generation in California and
Texas.   Stacey Bolton provided support on renewable energy technologies and
incentive monies.  Jeff Keeler coordinated meetings with the US DOE, who is
interested in lending support to Enron projects.   Enron is helping the DOE
staff and Bush transition team develop a FY 02 multi-million dollar funding
mechanism at DOE to support R&D and commercial applications for power quality
projects in the high-tech sector.  In addition, DOE has committed some
immediate discretionary funding to existing Enron projects.  Mary Schoen
organized meetings for EES on environmental regulation and the relation to
various power technologies.

Pipeline Safety Legislation & Regulation:  Jeff Keeler held meetings in
Washington, DC to provide ETS and Federal Government Affairs with information
on activities in the 106th Congress and assist in developing a strategy in
the 107th Congress.   Jeff organized meetings with policy makers and industry
organizations to ensure Federal Government Affairs' smooth transition into
assuming a leadership role on this issue.

Renewable Energy - California Customer Credit:   Stacey Bolton provided
testimony to California Energy Commission (CEC) regarding the current
customer credit fund for larger users being prematurely depleted, and ways in
which the commission can ensure this doesn't happen with the future
allocation from 2002-2007.  Stacey also submitted formal comments to CEC on
the allocation of the extended SBF program.

Renewable Energy Credit Trading:  Stacey Bolton talked to New York PSC staff
regarding their quasi-trading program (conversion transaction) for renewable
energy.  Enron submitted joint comments last summer, and NYPSC staff
confirmed that many of our recommendations will be incorporated into the
final rule, to be released at the end of the month.  Stacey informed EES of
this win.   Stacey is also working with Texas renewable coalition to fight
hefty charges for the REC program.  Charges could act as a disincentive to
renewable generators thinking about building projects & raise the price of
retail products in TX.

Renewable Energy Trading/Products:  Mike Terraso and Stacey Bolton met with
Elliot Mainzer of ENA West structuring for a strategy session regarding his
development of a wholesale renewable energy desk.  Stacey is assisting Elliot
with information for inclusion in his business plan.  Stacey also met with
Elliot and EES to discuss arrangement between an ENA/EMPI renewable wholesale
desk and EES.

Environmental Disclosure:   Stacey Bolton is working with a law firm in
Maryland to submit reply comments arguing against the Commissions' intent to
go with a PJM tracking system for disclosure.  Stacey is coordinating a joint
response with several stakeholders (PG&E national energy group, Green
Mountain, and possibly some utilities/affiliates).

2001 Strategies for Business Support:   ESG met with EES' Heather Mitchell
and Elizabeth Howley to discuss their 2001 objectives and how we can assist
them over the next year.  They are interested in promoting the role of energy
efficiency in reducing emissions and monetizing the benefits that they help
customers accrue.  They are also interested in assistance with renewable
energy strategies and EPA Star programs.  Stacey Bolton also participated in
the EHS meeting with Enron Industrial Markets to inform him of our group's
capabilities, and followed up with an e-mail.

Presidential Inauguration:   Environmental Strategies participated in several
inauguration activities.  In addition to participating in the Enron events,
ESG sponsored the "Environmental Inaugural Ball" which was a smaller event
with participation by companies, organizations, and policy makers in the
environmental area.


Louise and John,

Thank you for having the meeting with all Gas and Power origination this morning.  I was very impressed by the employee attendance and your responses to individuals' concerns.  I would recommend having periodic meetings in the future.  My only disappointment was the most of my questions should have been articulated by my employees because they were concerns and queries articulated to me these past few days.  I have appropriately chided them and will chalk it up to stage fright.

Regards, Mrha


They're yours.  Just let me know as soon as you can if you'd like them.  Hope you're doing well.  Stay buckled up.  It's bumpy out there.  But at least they're starting to publicly clean house.

Best,
Jeff

 -----Original Message-----
From: 	Petrochko, Mona L.
Sent:	Thursday, November 08, 2001 12:18 PM
To:	Hrach, April; Dasovich, Jeff
Subject:	RE: Football Tickets

I'm interested.

 -----Original Message-----
From: 	Hrach, April
Sent:	Thursday, November 08, 2001 11:02 AM
To:	Alamo, Joseph; Brodbeck, Kelly; Browner, Victor; Calvert, Gray; Carranza, Octavio; Dasovich, Jeff; Deane, Ryan; Fillinger, Mark; Fukada, Cary; Ha, Vicky; Hrach, April; Kelly, Derek; Kistler, Dave; Kromer, Steve; Ly, Aandy; Mara, Susan; Mcdonald, Michael; Mentan, Ron; O'Neal, Aida; Parquet, David; Perrino, Dave; Petrochko, Mona L.; Qureishi, Ibrahim; Russell, Dean; Schoen, Mary; Sezgen, Osman; Springer, Jason; Turnipseed, Edith; Wehn, Samuel; Wong, Michael; Yee, Dennis; Zavala, Cristina
Subject:	Football Tickets

Checkout the great deal, 49er fans!

 -----Original Message-----
From: 	Dasovich, Jeff
Sent:	Thursday, November 08, 2001 8:59 AM
To:	Hrach, April
Subject:

April:  Could you please distribute this to the office?  Thanks a bunch.

Greetings Folks:

Tired of thinking about related-party transactions, SEC probes and re-stated earnings?

Well, here's a chance to take your mind off of things.  I've got a pair of exceptional 49er tickets--lowest section in 2nd tier, right on the 50 yardline. (My girlfriend's parents season tickets. I can't use them--in fact, ain't crazy about football)  They're playing the Saints, which will be a great game.

I'm selling them for face value, which is $50 each.  Like to be able to give them to someone in the office if possible.  If you're interested, please let me know ASAP.

Best,
Jeff


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Transmission and RTOs: Representatives from
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Dear Market Participants:

Please be advised that the NYISO will be observing Martin Luther King Day,
on Monday, January 21, 2002.

As this holiday is not observed by all companies, be assured that HelpDesk
Support will continue to be provided without interruption 7 days a week/24
hours a day.  As a reminder, for Real-Time Curtailments, the Operations
Department telephone number is 518-356-7540.  Should you have an urgent
issue with basepoints that cannot be resolved through your Transmission
Owner, the Generator Operator's telephone number is 518-356-6028.

Customer Relations
518-356-6060

---
You are currently subscribed to nyiso_tie as: RRING@EES.ENRON.COM
To unsubscribe send a blank email to leave-nyiso_tie-628547Y@lyris.nyiso.com


I think you are right- I have been instructed to steer away from government entities due to the time it takes to close one
We are very focused in 4th quarter now so maybe we will be able to work on them next year.

From:	Richard Ring/ENRON@enronXgate on 11/05/2001 01:00 PM
To:	Kay Quigley/HOU/EES@EES
cc:	John McCarthy/HOU/EES@EES
Subject:	RE: EPA RFI

Kay,

I was informed that EESI is no longer interested in doing "any" deals that involve the Federal Government.  Do you have any insight?

Regards,

Richard

 -----Original Message-----
From: 	Quigley, Kay
Sent:	Monday, November 05, 2001 10:04 AM
To:	Ring, Richard
Subject:	EPA RFI

Richard - I will need your help on responding to this request- there are a lot of questions
I cannot field. I can provide the fixed gen pricing for the building with LF 65%, however all
the other questions center around renewable questions. You will need to take lead on majority.
John McCarthy works in EES and prepares formal responses to inquiries of this nature
If you can help him with those questions, he is very quick at putting the general info needed on Enron
together and putting in a nice binded document with very speedy turnaround
Let me know how you want to proceed- it's due 11/9
thanks
Kq


Following please find the Daily EnronOnline Executive Summary.

<Embedded Picture (Metafile)>


---------------------- Forwarded by Darron C Giron/HOU/ECT on 09/27/2000
04:35 PM ---------------------------

	Kevin W Drachenberg
	09/27/2000 11:24 AM

To: Darron C Giron/HOU/ECT@ECT
cc:
Subject: Peoples Gas --> $5,000 Invoice for Summer-Winter Exchange 6-1-00 to
7-31-00

Trying to wrap up as much as I can before my last day on Friday.  Have you
had a chance to look into this?

Kevin
---------------------- Forwarded by Kevin W Drachenberg/HOU/ECT on 09/27/2000
11:23 AM ---------------------------

	Kevin W Drachenberg
	09/14/2000 10:31 AM

To: Darron C Giron/HOU/ECT@ECT
cc:
Subject: Peoples Gas --> $5,000 Invoice for Summer-Winter Exchange 6-1-00 to
7-31-00

This is the detail for the invoice I mentioned in my voice mail to you.  I
need to get the Sitara number if this has been set up so I can pay Peoples.

Thanks,
Kevin
x3-0560
---------------------- Forwarded by Kevin W Drachenberg/HOU/ECT on 09/14/2000
10:31 AM ---------------------------

	Kevin W Drachenberg
	08/28/2000 05:34 PM

To: Kevin P Radous/Corp/Enron@Enron
cc:
Subject: Peoples Gas --> $5,000 Invoice for Summer-Winter Exchange 6-1-00 to
7-31-00

Kevin,

Doing some more month end clean up.

I received an invoice from Peoples Gas to ENA for $5,000.  The description is:

For Summer-Winter Exchange Agreement between Peoples and ENA from June 1,2000
through July 31,200 for 1Bcf.

1 Bcf Program Original Hedge:  1,000,000 MMBtu x .005 = $5,000

I cannot find a Sitara deal for this amount.  Will you please look into
this?  They told me the deal maker is Richard Tomaski.

If you send me your fax number I'll send you a copy of the invoice.

Thanks,
Kevin


Burton,

INTRA-EMWNSS1
INTRA-EMWNSS2
FT-IM-ENOV
INTRA-ENOV
TP-EMWNSS

Call if you have any further questions.

DG    3-9573


Sounds tempting, but I'm otherwise committed.  DF

Paul Gertsen <paulg@stpaul.lib.mn.us> on 09/22/2000 11:59:48 AM
To: Drew Fossum <Drew_Fossum@enron.com>
cc:

Subject: cam (fwd)

Hey -

I just found out there's a live web cam right down the block from the
library, focused on a Snoopy statue.

If I go stand there at 1:30 central
 will you  take a look?

I'll send the address - I checked it out. It works.

Should we try it?

pkg


The NYMEX announced an across the board reduction in natural gas margin rates
today.
The memo follows.

Thank you.

Notice No. 02-14
January 09, 2002

TO:                 ALL NYMEX MEMBERS AND MEMBER FIRMS
                       ALL NYMEX CLEARING FIRMS
                       ALL NYMEX OPERATIONS MANAGERS
FROM:            J. Robert Collins, Jr., President
SUBJECT:  MARGIN RATE CHANGES FOR HENRY HUB SWAP (NN) AND NATURAL GAS
(NG) FUTURES.
Effective Date:          Thursday, January 10, 2002 (close of
business)
Futures Contracts:       Natural Gas (NG), Henry Hub Swap (NN)
Futures
Contract Months:         All Months
Rate Change:

NYMEX Division Outright Margins on Natural Gas and Henry Hub Swap Futures
Contracts

Clearing            Member               Non-Member
Member              Customer

New       Old       New       Old        New       Old
Tier 1 (1st Nearby Month):
$2,500         $3,500         $2,750          $3,850              $3,375
$4,725

Tier 2 (2nd Nearby Month):
$2,500         $3,000         $2,750          $3,300          $3,375
$4,050

Tier 3 (3rd  - 6th Nearby Months):
$2,000         $2,500         $2,200          $2,750          $2,700
$3,375

Tier 4 (7th   - 12th Nearby Months):
$1,500         $2,000         $1,650          $2,200          $2,025
$2,700

Tier 5 (13th and greater):
$1,500         $2,000         $1,650          $2,200         $2,025
$2,700

Current systems calculate the margin requirement for spread positions by
first determining the "Scan Risk" and then multiplying the number of spreads
by a rate set by the Exchange.  Scan Risk is determined by netting the
outright margin required for each leg of a spread.  Spreading between
differently margined contracts results in a higher spread margin than
between equally margined contracts.  Below is provided an example where the
legs of a spread are margined differently.
Scan Risk Example at Clearing Member Rates
A spread consisting of one futures leg in Tier 1 and another in Tier 3 will
have its requirement (at the clearing member rates) calculated at $1,000
starting on Thursday, January 10, 2002.

One Long Tier 1 NG or NN (1 * $2,500)
=              $2,500
One Short Tier 3 NG or NN     (1 * $2,000)
=         -    $2,000
Net Scan Risk       ($2,500-$2,000)
=              $   500
Spread Rate         (1* $500)
=         +    $   500
Total Requirement
=              $1,000
Scan Risk Example Summary
Margin on a Spread Between a Tier 1 and Tier 3 Futures Contract
Clearing Member (Maintenance Margin):
$1,000
Member Customer (Initial Margin):
$1,100
Non-Member Customer (Initial Margin):
$1,350

 Inter-Month Spread  Margins on Natural Gas and Henry Hub Swap Futures
Contracts
                    Clearing
Member
                    Member                    Customer
Non-Member
Tier 1 (1st Nearby Month):         $500                 $550
$675
Tier 2 (2nd Nearby Month):          $250                     $275
$237
Tier 3 (3rd  - 6th Nearby Months):  $250                     $275
$237
Tier 4 (7th   - 12th Nearby Months):      $250                    $275
$237
Tier 5 (13th and greater):         $100                 $110
$135

The inter-commodity spread margins will be $0 between Natural Gas (NG) and
Henry Hub Swap (NN) futures contracts. Spread credits between Henry Hub Swap
futures and all other NYMEX energy products will be the same as the Natural
Gas spread credits.
Should you have any questions regarding these changes, please contact Arthur
McCoy at (212) 299-2928 or Joe Sanguedolce at (212) 299-2855.  This notice
supersedes all previous notices regarding outright and spread margins for
the NYMEX Natural Gas (NG) futures contract and the NYMEX Henry Hub Swap
futures contract.

_____________________________________________________________________________________________________________________________________

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Great,

Please, let me know. There are several good films playing currently.

Vince

Jlpnymex@aol.com on 04/04/2000 10:09:28 AM
To: Vince.J.Kaminski@enron.com
cc:
Subject: Re: (no subject)

Vince,

I will check with David and get back with you.  I still want to hear about
your California trip.

Jana


of you guys going to Pig Dinner next weekend at Antoine's in New Orleans???

CKL


gerald,

here are the comments i received from iroquois on the ca we sent to them.  i
am ok on the new york law, because i feel confident that any attorney we
would use, should the occasion rise, would know new york law.  the only other
comment is that they would like the material to be confidential for three
years.  i don't know if this means that the entire ca needs to be a
three-year agreement, or if we can have the confidentiality of the material
exceed the limit of the ca.  i would have added it into the text, but was
unsure where to put it.

Can I get this sometime early this weeek?

let me know.

jamie


FYI

This is Zal's latest project for our review!

Of course the review is a rush! I know you are off-site today, so I will
handle, but if you get a chance your comments would be appreciated.

Thanks
---------------------- Forwarded by Harry M Collins/HOU/ECT on 03/03/2000
10:09 AM ---------------------------

Zal Masani
03/03/2000 09:39 AM
To: Harry M Collins/HOU/ECT@ECT
cc: Greg Woulfe/HOU/ECT@ECT
Subject:

Harry these are the pages going up on the site could you please reveiw.
The main file I need your go ahead on is the Howto file.

Thanks

Zal


---------------------- Forwarded by Phillip K Allen/HOU/ECT on 09/26/2000
12:08 PM ---------------------------

	Invitation
Chairperson: Richard Burchfield
Sent by: Cindy Cicchetti

Start: 09/27/2000 11:30 AM
End: 09/27/2000 12:30 PM

Description: Gas Trading Vision Meeting - Room EB2556

This meeting repeats   starting on    (if the date occurs on a weekend the
meeting ).
Meeting Dates:

Phillip K Allen/HOU/ECT
Hunter S Shively/HOU/ECT
Scott Mills/HOU/ECT
Allan Severude/HOU/ECT
Jeffrey C Gossett/HOU/ECT
Colleen Sullivan/HOU/ECT
Russ Severson/HOU/ECT
Jayant Krishnaswamy/HOU/ECT
Russell Long/HOU/ECT

Detailed description:


call me b/c i will forget.  i will even pay for the call.  just call and then
i will call you back.  i forget at night.  i have a lot on my mind.


For extra credit....
If the company is worth 150% more under management A rather than 50% more,
does your answer change?

"Eva Pao" <epao@mba2002.hbs.edu> on 05/11/2001 05:13:59 PM
Please respond to <epao@mba2002.hbs.edu>
To: <John.Arnold@enron.com>
cc:
Subject: RE: try this one...

will you do all of my homework?

-----Original Message-----
From: John.Arnold@enron.com [mailto:John.Arnold@enron.com]
Sent: Friday, May 11, 2001 8:41 AM
To: epao@mba2002.hbs.edu
Subject: Re: try this one...

i'll pay a grand total of 0

"Eva Pao" <epao@mba2002.hbs.edu> on 05/10/2001 05:15:59 PM

Please respond to <epao@mba2002.hbs.edu>

To:   <jarnold@enron.com>
cc:
Subject:  try this one...

 Please read the following problem very carefully, and write in a number at
the end.  You should be ready to defend your answer.  Only a number is
allowed, not an algebraic equation.

Acquiring a Company

     In the following exercise you will represent Company A (the acquirer),
which is currently considering acquiring Company T (the target) by means of
a tender offer.  You plan to tender in cash for 100% of Company T's shares
but are unsure how high a price to offer.  The main complication is this:
the value of Company T depends directly on the outcome of a major oil
exploration project it is currently undertaking.  Indeed, the very
viability
of Company T depends on the exploration outcome.  If the project fails, the
company under current management will be worth nothing--$0/share.  But if
the project succeeds, the value of the company under current management
could be as high as $100/share.  All share values between $0 and $100 are
considered equally likely.  By all estimates, the company will be worth
considerably more in the hands of Company A than under current management.
In fact, whatever the ultimate value under current management, the company
will be worth fifty percent more under the management of A than under
Company T.  If the project fails, the company is worth $0/share under
either
management.  If the exploration project generates a $50/share value under
current management, the value under Company A is $75/share.  Similarly, a
$100/share value under Company T implies a $150/share value under Company
A,
and so on.

     The board of directors of Company A has asked you to determine the
price
they should offer for Company T's shares.  This offer must be made now,
before the outcome of the drilling project is known.  From all indications,
Company T would be happy to be acquired by Company A, provided it is at a
profitable price.  Moreover, Company T wishes to avoid, at all cost, the
potential of a takeover bid by any other firm.  You expect Company T to
delay a decision on your bid until the results of the project are in, then
accept or reject your offer before the news of the drilling results reaches
the press.

     Thus, you (Company A) will not know the results of the exploration
project
when submitting your price offer, but Company T will know the results when
deciding whether or not to accept your offer.  In addition, Company T will
accept any offer by Company A that is greater than the (per share) value of
the company under current management.  Thus, if you offer $50/share, for
instance, Company T will accept if the value of the company to Company T is
anything less than $50.

     As the representative of Company A, you are deliberating over price
offers
in the range of $0/share (this is tantamount to making no offer at all) to
$150/share.  What price offer per share would you tender for Company T's
stock?

     $______ per/share


Please add the following demand charges to the manual invoice.

Transport Demand $2,512,347.00
Sched Fee  $20,000.00

I may have included the scheduling fee in the manual invoice.


there are probably 8-10 on the street.  I would like to see all of them, but
i can't afford the $380k one.

can you see about tomorrow?

thanks

e

"K. Bass" <daphneco64@bigplanet.com> on 02/01/2001 09:26:13 AM
Please respond to "K. Bass" <daphneco64@bigplanet.com>
To: Eric.Bass@enron.com
cc:
Subject: Re: Mandell

Hi Eric,

2405 Mandell looks really good.  HCAD app. $267500.
2401 Mandell sold on 8/29/00 for $279900 in 6 days.  These are Silvestri
townhomes which I think are a cut above Perry.  HCAD for 2402 (Perry) is
$271800, not much less than asking price.  This is a patio home.  How many
townhomes/patio homes would you estimate are on the street?  Do you want to
try to see 2405 also?  LU-M
----- Original Message -----
From: <Eric.Bass@enron.com>
To: <daphneco64@bigplanet.com>
Sent: Thursday, February 01, 2001 7:51 AM
Subject: Mandell

> these two are right across the street
>
> http://www.har.com/search/condo/indexdetail.cfm?mlnum=526225
>
> http://www.har.com/search/condo/indexdetail.cfm?mlnum=527102
>


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 02/12/2001
11:26 AM ---------------------------

"John D. Martin" <J_Martin@baylor.edu> on 02/07/2001 08:54:45 AM
To: vkamins@enron.com
cc:
Subject: Here's the typeset version

Vince,

Attached is a copy of the typeset version that I will be reading today.  I
will check to make sure that all the changes you gave me this weekend are
incorporated.  I will also be writing a 200 word summary for the paper
today and will pass that by you as well.

Have a great day.

john

p.s. I'll call Shirley about the revenue question I sent you yesterday.

 - 134martin-cx1.pdf

John D. Martin
Carr P. Collins Chair in Finance
Finance Department
Baylor University
PO Box 98004
Waco, TX 76798
254-710-4473 (Office)
254-710-1092 (Fax)
J_Martin@Baylor.edu
web:    http://hsb.baylor.edu/html/martinj/home.html


CALENDAR ENTRY:	APPOINTMENT

Description:
	Lynn-OUT OF OFFICE

Date:		2/24/2001
Time:		8:00 AM - 5:00 PM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


And Lisa Bills.
---------------------- Forwarded by Kay Mann/Corp/Enron on 11/28/2000 05:46
PM ---------------------------

Kay Mann
11/28/2000 05:45 PM
To: Suzanne Adams/HOU/ECT@ECT
cc:

Subject: Re: World Hunger assignment

Please send a reminder out to Mike Barnas, Kent Shoemaker, Steve Swift, Rose
Engeldorf,
Ben Jacoby, Scott Dieball, and Sheila, and once again include the
instructions (yeah, I know).

thanks,

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 11/28/2000 05:44
PM ---------------------------
From: Sheila Tweed@ECT on 11/28/2000 05:42 PM
To: Kay Mann/Corp/Enron@ENRON
cc:

Subject: Re: World Hunger assignment

Thanks Kay.  I will be on the call tomorrow.  You might get Suzanne to send
out a reminder.


Please plan to attend a  reception and dinner for those Analysts and
Associates due to rotate in the near future who have made significant
contributions to Enron North America  The function will be hosted by the
Office of the Chairman at Cafe Annie located at 1728 Post Oak Blvd. on August
2,  2000.  The reception will start at 7:00pm with dinner to follow at
7:45pm.  Please RSVP to Ted Bland at ext. 3-5275 no later than close of
business Monday, July 31.  This will be an informal gathering to discuss the
progress of ENA and an open forum to interact with the management team on a
one on one basis.

See you on Wednesday.

Mark, Dave and John


We Agree

"Eileen Ponton" <kponton@duke-energy.com> on 03/20/2001 10:05:59 AM

To:   David Avila/LSP/ENSERCH/US@TU, Charlie Stone/Texas Utilities@TU, Melissa
      Jones/Texas Utilities@TU, HPL.SCHEDULING@ENRON.COM,
LIZ.BELLAMY@ENRON.COM
cc:
Subject:  NOMS/ACTUAL FLOW FOR 3/19/01

DATE      NOM       MCF       MMBTU
3/19/01        60,000         59,944          61,562

BTU = 1.027


The oil pump on Unit 8 is burnt up and it will be aprrox. 2 days before they will have the parts to replace it.

Larry - Waterloo Team


Introducing your first SAP Paycheck!

This is the first payroll processed in SAP for all employees paid out of
Corporate Payroll. You may notice some changes in the way information is
reflected on your pay advice, the most common are itemized below.

What,s Different?
? Your +home, cost center will be displayed at the top of the pay advice.
This is your department number as designated in the HR and financial modules
of SAP.

? Any earnings descriptions that start with a +P, represent earning types
reported in the prior period. For instance, if you reported vacation time for
the July 1st-15th pay period, it will be reflected on your July 31st pay
advice as +PVacation,.

? Flex dollars will appear on the earnings section of the pay advice instead
of as a credit in the deduction section. The various benefit deductions will
remain itemized in the deduction section.

? If you transfer between Enron companies during the year, your year)to-date
totals will carry forward to the new company pay advice. Previously, the
year-to-date totals started over when transferred to another company. This
change will provide your total Enron earnings and deduction amounts on your
pay advice throughout the year.  (Note that your W2 at the end of the year
will reflect your earnings by company).

? For salaried employees, any reported exception time (e.g. vacation, sick
day, etc.) will be reflected on the earnings section with hours only, the
related dollar amount will be included in the +Salary, earnings type.

? For any other information or further explanations regarding your payroll
contact the Payroll Call Center at 713-345-5555

Payroll FAQ,s

My paycheck has a line called &other deductions8, what does that stand for?
There is a fixed amount of lines to print deductions on the paycheck.  For
some employees, the number of deductions are more than we have room to
print.  In this circumstance, the system totals all remaining deductions and
prints them on one line ) titled &other deductions8.  The detail of all
deductions can be viewed on the pay advice that is displayed on the intranet
at eHRonline.enron.com.

What do the earnings or deduction codes on my paycheck mean?
These definitions are listed on the Payroll webpage located at
hrweb.enron.com, select Enron Payroll  from the side index.

Why is my overtime not reflected on my paycheck?
Overtime is paid one pay period in arrears, therefore it will be reflected in
the next pay period. For example, if you reported overtime for the
July 1st )15th pay period, it will be reflected on your July 31st pay advice
as +POvertime,.

What is the limit for Social Security (FICA)?
For year 2000 the limit is $4,724.40 on a wage base of $76,200. This limit is
applied to each Enron payroll tax company. Therefore, if you transfer to
another Enron company these limits will start over, however, the total amount
withheld across all companies will be reflected on your paystub. Excess FICA
will be credited to you by the IRS via your tax return.

What federal income tax rate is used for my bonus or when I exercise stock
options?
There is a standard federal income tax rate of 28% for these earnings. This
can be higher if the employee has completed a Supplemental Tax form
requesting a higher rate (this form can be found at hrweb.enron.com , select
Enron Payroll  from the side index).


In the interest of moving things forward, it would help if you could provide the following info:

1. Hand-marked copy of the portions of the current contract which need to be changed.

2. A brief description of the new deal, especially the index language.

I know VEPCO may be preparing a first draft, but I think it would be good to get some focus ahead of time.

Kay


Sara -- A link to the Oregon Revised Statutes and the Oregon Constitution
on-line can be found at www.state.or.us

Jim Deason
Cable Huston Benedict Haagensen & Lloyd, LLP
Suite 2000, 1001 SW Fifth Avenue
Portland, OR 97204
503.224.3092
503.224.3176 (fax)
email: jdeason@chbh.com

> NOTICE:  This communication and its attachments, if any, may contain
> sensitive, confidential or attorney-client privileged.  If you are
> not the intended recipient or believe that you have received this
> communication in error, please notify the sender of this
> communication and delete the copy you received from all storage
> devices (electronic, hardcopy or otherwise).  In addition, please do not
> print, copy, retransmit,
> forward, disseminate, or otherwise use this communication or its
> attachments, if any.  Thank you.
>
>


In my response to Brent Price on the London Doorstep review I alluded to the
incompleteness of the list of issues. As I outlined, the key point has been
identified, but its knock - on effects are widespread and worrying,
especially as they concern the Continental Power operation:

As of today the most recent finalised DPR for this business was for 11th May,
and during the period between then and now we have seen (although in milder
form) a repeat of the turmoil on the Amsterdam Power Exchange (APX) that we
witnessed in January this year. This is not the time or the market to not
know our position.

The business is soon to apply for higher limits to accommodate a new
transaction on the Polish border. I am bound to comment that based on the
state it appears to be in, I would not recommend higher limits.

To add insult to injury, as a result of the way this area has been allowed to
develop, much of the know-how is in the heads (and spreadsheets) of certain
key individuals who it seems are now bound rapidly for EBS.

UK Gas seems to have slipped too. Yesterday they reported a $7m loss due to
the value of a set of options which were part of a structured deal, booked
"off-system" and not revalued for over a month. Worryingly, there seemed to
be more time spent arguing over the nuances of a Loss Notification memo, than
answering some fundamental questions about why it happened.

As a corollary, our process of performing "risk reviews" has become all the
more important in identifying holes in our capture and treatment of market
risk in the firm. I expect these to play a big part in our effort to
stabilise these areas.

DP

---------------------- Forwarded by David Port/Market Risk/Corp/Enron on
05/17/2000 10:31 AM ---------------------------

From:  David Port
05/17/2000 09:30 AM

To: Brent A Price/HOU/ECT@ECT
cc: Mike Jordan/LON/ECT@ECT, Steve W Young/LON/ECT@ECT, Tani
Nath/LON/ECT@ECT, Mark Pickering/LON/ECT@ECT, Joe Gold/LON/ECT@ECT, James
New/LON/ECT@ECT, Richard Lewis/LON/ECT@ECT, Michael R Brown/LON/ECT@ECT,
Fernley Dyson/LON/ECT@ECT, Sally Beck/HOU/ECT@ECT, Ted Murphy/HOU/ECT@ECT,
John Sherriff/LON/ECT@ECT

Subject: Re: Project Doorstep Responsibility Matrix

Thanks for the summary. I was out last week so apologies if my comments
arrive too late. Here they are anyway:

1 Socrates

I think it inappropriate for me, or anyone in RAC for that matter, to have
primary responsibility for this system/project.

But if I were responsible the first thing I would want to know is why this
project, which commenced in May 1998, as I recall, is still incomplete, given
that it now contains possibly the largest energy derivative position in
history, concentrated in a single commodity with a single counterpart.

2 Exhaustive ?

It doesn't look like an exhaustive list and I suspect it was not intended to
be so - nevertheless we should ensure it is not viewed as such.

3 Symptoms or Causes ?

Many of the points look like the former, and addressed as they stand will
likely leave us with a Band-aid solution which will drop off when pressure is
applied.
In fact many of them look like they are a result of Point 5 :

 "Prioritisation of system projects has resulted in a lack of certain control
functionality..."

because that explains partly why models get built and forgotten, confirmation
errors get made, deliveries go astray and trades get missed - usually bright
people are simply too immersed in manual processes to have time to think
about changing the way they work. And, for example, when those people move
on, as they surely will, the institution has no memory of how to do what they
did.

I am still amazed at how much we pay relatively senior people to work on
Microsoft Excel all day, everyday.

4 Overall

I think this is a good exercise if we react to it in the right way. Rather
than a list of irritating issues we have to do just enough to justify ticking
off, we should use it as a tool to analyse the way we operate.

As a hypothesis, if most issues stem from Point 5, then I would ask why has
prioritisation of system projects resulted in a lack of certain control
functionality ?

DP

Brent A Price@ECT
05/08/2000 11:08 AM
To: Mike Jordan/LON/ECT@ECT, Steve W Young/LON/ECT@ECT, Tani
Nath/LON/ECT@ECT, Mark Pickering/LON/ECT@ECT, Joe Gold/LON/ECT@ECT, James
New/LON/ECT@ECT, Richard Lewis/LON/ECT@ECT, Michael R Brown/LON/ECT@ECT,
Andrew Cornfield/LON/ECT@ECT, Tim Davies/LON/ECT@ECT, Rebecca
Millerchip/LON/ECT@ECT, Kevin Sweeney/HOU/ECT@ECT, Pablo
Pissanetzky/LON/ECT@ECT, Gail Hill/LON/ECT@ECT, Eric Virro/LON/ECT@ECT,
Richard Sage/LON/ECT@ECT, Tim Poullain-Patterson/LON/ECT@ECT, Ian
Sloman/LON/ECT@ECT, David Port/Market Risk/Corp/Enron@ENRON
cc: Fernley Dyson/LON/ECT@ECT, Sally Beck/HOU/ECT@ECT, Ted
Murphy/HOU/ECT@ECT, John Sherriff/LON/ECT@ECT

Subject: Project Doorstep Responsibility Matrix

Attached is a responsibility matrix for London - Project Doorstep action
steps.  The listing consists of controls findings, action steps, proposed
timelines, and proposed sponsors and responsibility assignments for the
completion of the action steps.  The purpose of this matrix will be to review
and monitor it on an ongoing basis to ensure that items are being
appropriately addressed and completed.  Please take a moment to review all
sections of the listing and communicate any comments or revisions you may
have to me as soon as possible.  We would like to have a final version of
this document in place by May 12.


---------------------- Forwarded by Shanna Husser/HOU/EES on 12/04/2000 01:42
PM ---------------------------

Christina Barthel
12/04/2000 01:41 PM
To: Lynna Kacal/Corp/Enron@ENRON, Robert B Cothran/Corp/Enron@ENRON, Kathy
Fink/Corp/Enron@ENRON, Amy Jon/HOU/ECT@ECT, Stacy Gibson/HOU/ECT@ECT,
Michelle LeBlanc/Corp/Enron@ENRON, Jason
Sharp/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt, Leon Branom/Corp/Enron@ENRON,
Kimberly Ketchum/NA/Enron@Enron, Jeanie Miller/Corp/Enron@ENRON, Raul
Yzquierdo/Enron Communications@Enron Communications, Rafael
Avila/HOU/EES@EES, Angie Ramirez/HOU/EES@EES, Shanna Husser/HOU/EES@EES, Dara
M Flinn/HOU/EES@EES, Ching Lun/HOU/EES@EES, Kim Chick/HOU/EES@EES, Cris
Crixell/HOU/EES@EES, "Jared McDaniel" <jaredmcdaniel@hotmail.com>, "Jaimie"
<Jaimie.Parker@coastalcorp.com>, "Ashley" <Ashley.Victorick@coastalcorp.com>,
"Kelly Kohrman" <pyrowoman@hotmail.com>, "Erin" <elaggie99@hotmail.com>,
"Misti" <mkuehn@tcresidential.com>
cc:
Subject: Redneck Nativity scene

hehehe
---------------------- Forwarded by Christina Barthel/HOU/EES on 12/04/2000
01:37 PM ---------------------------

"Urbani, Anthony J" <urbanaj@texaco.com> on 12/04/2000 12:49:35 PM
To: "'Christina Barthel'" <cbarthe@enron.com>, "'Meredith Gilbert'"
<meredith@friersoncpa.com>
cc:
Subject: FW: Redneck Nativity scene

A salesman from New Jersey pulled off the highway to get gas in Tyler, TX
recently and wandered into town to soak up the local culture. He noticed a
'Nativity Scene' that showed great skill and talent had gone into creating
it. One small feature bothered him however. The 3 wisemen were wearing
firemens helmets. Totally unable to come up with a reason or explanation,
he left. However, when he stopped at the E-Z Mart to get gas, he ask the lady
behind the counter about the helmets. She exploded into a rage, yelling,
"You Yankees never do read the Bible!" He assured her that he did, but simply
couldn't recall anything about firemen in the Bible. She jerked her Bible
from behind the counter and ruffled thru some pages, and finally jabbed
her finger at a passage. Sticking it in his face she said See, it says right
here, "The three wise men came from afar."


Regulatory

S. Montovano - E. Gas
J. Dosovich - W. Gas
C. Nicolay - FERC
Alan Comnes	West Power
S. Walton - E. Power
J Steffes
Charles Yeung	ERCOT
Susan Lindberg
Sarah Novosel	FERC

Are all of these people still here?  We obviously hope so, as we would like them for NEWCO


Attached is the draft testimony of Scott Jones.

Comments should be received no later than 3:00 PM EST on Sunday, August 26.
All comments and suggestions need to be in writing and can be faxed (not
E-mailed) to Dan Watkiss at 202-857-2131.  Also, if your suggestion is a
proposed addition, please write out the exact language you would propose we
incorporate into the testimony and where you would place the addition.

Donald A. Kaplan, Esq.
Preston Gates Ellis &
  Rouvelas Meeds LLP
Suite 500
1735 New York Avenue, N.W.
Washington, D.C.  20006
Ph: (202) 662-8466
Fax: (202) 331-1024
donk@prestongates.com

(See attached file: TFG SJones Draft 8-25-01.doc)(See attached file:
Exhibit STJ-6.xls)(See attached file: Exhibit STJ-3.xls)(See attached file:
Exhibit STJ-4.xls)(See attached file: Exhibit STJ-5.xls)(See attached file:
Exhibit STJ-2.doc)

CONFIDENTIALITY NOTE:
This email message is intended solely for the individual or individuals
named above.  It may contain confidential attorney-client privileged
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not the intended recipient, you are requested not to read, copy or
distribute it or any of the information it contains.  Please delete it
immediately and notify the sender by return email or by telephone.  Thank
you.

 <<TFG SJones Draft 8-25-01.doc>>  <<Exhibit STJ-6.xls>>  <<Exhibit
STJ-3.xls>>  <<Exhibit STJ-4.xls>>  <<Exhibit STJ-5.xls>>  <<Exhibit
STJ-2.doc>>

 - TFG SJones Draft 8-25-01.doc
 - Exhibit STJ-6.xls
 - Exhibit STJ-3.xls
 - Exhibit STJ-4.xls
 - Exhibit STJ-5.xls
 - Exhibit STJ-2.doc


Becky - I will read tonight, please call me tomorrow morning to dsicuss.  I
will be in by 7 am (853-4350).

Thanks - Jeff

Becky L Merola
08/24/2000 10:07 AM
To: Tom Hoatson/HOU/EES@EES, Robin Kittel/HOU/EES@EES, Joe
Hartsoe/Corp/Enron@ENRON, Sarah Novosel/Corp/Enron@ENRON, Jeff
Dasovich/SFO/EES@EES, Jeff Brown/HOU/EES@EES
cc: SATaft@vssp.com, Janine Migden/DUB/EES@EES, Richard Shapiro/HOU/EES@EES
Subject: FW: Tech. Req. for Single & 3 Phase, 8-15-00.DOC

Hi Folks:
For those of you who have more technical expertise in electricity,  if you
could look at the attached document and provide me with your comments by
August 29th it would be greatly appreciated.  If there is anyone else that
you feel may be of assistance in this matter please don't hesitate to forward
this document.  Thank you for your help.
---------------------- Forwarded by Becky L Merola/DUB/EES on 08/24/2000
10:56 AM ---------------------------

"Taft, Sheldon A." <SATaft@vssp.com> on 08/24/2000 09:47:18 AM
To: "'bmerola@enron.com'" <bmerola@enron.com>, "'pmikuls@wpsr.com'"
<pmikuls@wpsr.com>, "'bkorandovich@newenergy.com'"
<bkorandovich@newenergy.com>, "'mayer@taftlaw.com'" <mayer@taftlaw.com>,
"'kurt@theoec.org'" <kurt@theoec.org>
cc: "Petricoff, M. Howard" <MHPetricoff@vssp.com>
Subject: FW: Tech. Req. for Single & 3 Phase, 8-15-00.DOC

Here are the Technical Requirements proposed by the utilities at the August
23 PUCO Workshop on Interconnection.  Please have your technical people
review these and share with us any issues or problems that marketers would
have with them.  We will need to identify these issues and problems and to
propose alternatives before the next workshop meeting on August 30.

-----Original Message-----
From: Colbert, Paul [mailto:pcolbert@Cinergy.com]
Sent: Thursday, August 24, 2000 10:40 AM
To: Taft, Sheldon A.
Subject: Tech. Req. for Single & 3 Phase, 8-15-00.DOC

 <<Tech. Req. for Single & 3 Phase, 8-15-00.DOC>> Here it is.  Thank you.

From the law offices of Vorys, Sater, Seymour and Pease LLP.

CONFIDENTIALITY NOTICE: This e-mail message is intended only for the person
or entity to which it is addressed and may contain confidential and/or
privileged material. Any unauthorized review, use, disclosure or distribution
is prohibited.  If you are not the intended recipient, please contact the
sender by reply e-mail and destroy all copies of the original message.  If
you are the intended recipient but do not wish to receive communications
through this medium, please so advise the sender immediately.

________________________________________________________________________

 - Tech. Req. for Single & 3 Phase, 8-15-00.DOC


Still waiting to hear from you guys on this before I send it out.

Tana/Leslie: I need to get an official approval from Legal

Houston PCG: I need to know if Houston Credit/Legal will be reviewing for US
products.  Please let me know.

Imelda
---------------------- Forwarded by Imelda Frayre/LON/ECT on 04/12/2000 16:32
---------------------------
From: Imelda Frayre on 01/12/2000 09:04
To: Tana Jones/HOU/ECT@ECT, Leslie Hansen/HOU/ECT@ECT, Claudia
Clark/HOU/ECT@ECT, Lisa Lees/HOU/ECT@ECT, Karen O'Day/NA/Enron@Enron, Paul
Maley/LON/ECT@ECT
cc: Enron London - EOL Product Control Group/LON/ECT@ECT, Alan
Jamieson/EU/Enron@Enron

Subject: Re: New Counterparty - President & Fellows of Harvard College

Hi Everyone

I apologize for all the e-mails going back and forth but hopefully we can put
this one to rest soon.  London Credit have approved this CP for financial
metals and I need to confirm if they are approved from a legal perspective as
well.  I spoke to Justin Boyd (London legal) and he asked that I clear this
with Houston Legal before setting them up.

In addition, I want to see if Houston Credit/Legal will be reviewing this
counterparty for US products as well.  Please let me know as soon as you can.

Thank You

Imelda Frayre
---------------------- Forwarded by Imelda Frayre/LON/ECT on 01/12/2000 09:00
---------------------------

Alan Jamieson@ENRON
30/11/2000 17:55
To: Imelda Frayre/LON/ECT@ECT
cc: ECT London Credit, Enron London - EOL Product Control Group/LON/ECT@ECT

Subject: Re: New Counterparty - President & Fellows of Harvard College

Approved for financial metal products only with collateral - MGS Code IVY

To: Justin Boyd/LON/ECT@ECT, ECT London Credit, Enron Europe Global
CounterParty
cc: Enron London - EOL Product Control Group/LON/ECT@ECT, EOL Marketing
Europe@ECT, Lindsay F Edmonds/EU/Enron@Enron, Hamish M Scutt/EU/Enron@Enron,
Diana Higgins/LON/ECT@ECT, Alan Jamieson/EU/Enron@Enron, Britta
Dinnendahl/LON/ECT@ECT, Alex Heath/LON/ECT@ECT, Robert Brewis/LON/ECT@ECT,
Chris Shapland/LON/ECT@ECT

Subject: New Counterparty - President & Fellows of Harvard College

Hi

We've received a PA registration form from President & Fellows of Harvard
College  for EnronOnline.  I've entered the customer details in the customer
database (s:/access database).  Please review and confirm via return e-mail
once approval is completed.  Attached is the PA registration form for your
review.

Regards

Imelda Frayre

---------------------- Forwarded by Imelda Frayre/LON/ECT on 21/11/2000 07:53
---------------------------

London Fax System
20/11/2000 22:07
To: Enron London - EOL Product Control Group/LON/ECT@ECT
cc:

Subject: New fax received (Likely sender: 713 646 8511).

You have received a new fax from 713 646 8511

The image contains 3 page(s).


FYI.  xoxoxoxoxo
----- Forwarded by Jeff Dasovich/NA/Enron on 03/06/2001 05:40 PM -----

	Margo Reyna
	03/06/2001 05:05 PM

		 To: Sue Nord/NA/Enron@Enron, Scott Bolton/Enron Communications@Enron
Communications, Lara Leibman/Enron Communications@Enron Communications,
Donald Lassere/Enron Communications@Enron Communications, Mona L
Petrochko/NA/Enron@Enron, Barbara A Hueter/NA/Enron@Enron, Jeff
Dasovich/NA/Enron@Enron, Susan M Landwehr/NA/Enron@Enron, Marchris
Robinson/NA/Enron@Enron, Ricardo Charvel/NA/Enron@Enron, Stephen D
Burns/Corp/Enron@ENRON, Xi Xi/Enron Communications@Enron Communications,
Allison Navin/Corp/Enron@ENRON, John
Neslage/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Eric Benson/NA/Enron@ENRON,
Karen Huang/Enron Communications@Enron Communications, Matthew
Jachimiak/HOU/ECT@ECT, William Patrick Lewis/HOU/ECT@ECT, John
Neslage/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
		 cc:
		 Subject: Article:  Bids Made For Broke NorthPoint

Margo Reyna
Regulatory Analyst
Enron Corp., Government Affairs
Phone:  713-853-9191

----- Forwarded by Margo Reyna/NA/Enron on 03/06/2001 05:00 PM -----

	djcustomclips@djinteractive.com
	03/06/2001 04:58 PM
	Please respond to nobody

		 To: 123363@WCTOPICS.djnr.com
		 cc:
		 Subject: Telecom Services: Broadband Services: Bids Made For Broke NorthPoint

Bids Made For Broke NorthPoint
Dick Kelsey, Newsbytes

03/06/2001
Newsbytes News Network
(c) Copyright 2001 Post-Newsweek Business Information, Inc. All rights
reserved.
EMERYVILLE, CALIFORNIA, U.S.A., 2001 MAR 6 (NB). Bidding started today on
bankrupt broadband services provider Northpoint Communications Group
[NASDAQ:NPNTQ], more than three months after Verizon Communications [NYSE:VZ]
killed the companies' merger plan.
Northpoint did not identify bidders or discuss the amount of bids received,
citing a "quiet period" that precludes disclosure of such details.
"It is our hope to sell the company as a whole, but we cannot speculate on
the outcome of this structured sale process," Northpoint Communications
President and CEO Liz Fetter said in a news release.
Bidding is scheduled to close on March 20 and the winning bid will be
submitted to bankruptcy court the next day, Northpoint said.
Emeryville, Calif.-based Northpoint filed for Chapter 11 bankruptcy
protection on Jan. 16, six weeks after Verizon scuttled the companies' plans
to merge. Northpoint has since sued Verizon for $1 billion in damages over
cancellation of the merger.
Verizon on Nov. 29 pulled out of the $800 million merger agreement, citing
Northpoint's deteriorating financial condition. The companies intended to
merge their digital subscriber line (DSL) businesses into a national
broadband company.
Northpoint spokesman Marvin Wamble told Newsbytes that the company currently
employs 1,065 people, down from its peak level of 1,800 workers last year.
Northpoint Communications is on the Web at http://www.northpoint.net
Verizon can be found at http.www.verizon.com
Reported by Newsbytes.com, http://www.newsbytes.com .
16:22 CST Reposted 16:23 CST

Press Contacts: Marvin Wamble, Northpoint, 510-450-7432, e-mail:
mwamble@northpoint.net /WIRES ONLINE, LEGAL, TELECOM,
BUSINESS/NORTHPOINT/PHOTO

Folder Name: Telecom Services: Broadband Services
Relevance Score on Scale of 100: 83

______________________________________________________________________
To review or revise your folder, visit Dow Jones CustomClips or contact Dow
Jones Customer Service by e-mail at custom.news@bis.dowjones.com or by phone
at 800-369-7466. (Outside the U.S. and Canada, call 609-452-1511 or contact
your local sales representative.)
______________________________________________________________________
Copyright (c) 2001 Dow Jones & Company, Inc. All Rights Reserved


RTO Week

Day 2 -- October 16, 2001

Congestion Management and Transmission Rights

The morning panel discussed congestion management.  The panelists were:  Nancy Brockway, Commissioner New Hampshire PSC; Reem Fahey, Edison Mission; Carol Guthrie, Chevron/Texaco; Shmuel Oren, University of California - Berkley and advises Texas PUC; Andy Ott, PJM; Michael Schnitzer, NorthBridge Group.

General Observations

The Commissioners were again all present (Wood left mid-morning to give testimony on Capitol Hill).  Today, however, FERC Staff was much more active in the discussion and the commissioners asked very few questions.  The topics are so interrelated that many of the same issues already discussed are being rehashed again.  This will probably continue for the rest of the week.  What I have found most encouraging so far has been the widespread support for some of the basic concepts, most notably the need for a real time energy market based using LMP.  Very few panelists have opposed this; at most, a couple of panelists have argued that the real time market should not be standardized -- basically conceding that PJM's system is not going to change in the Northeast but urging that it not be mandated everywhere else.

Opening Statements

Nancy Brockway:  focus on two topics:  1) flowgate vs. LMP; and 2) relationship between congestion management (CM) and resource planning.  She supports LMP and standard market design in New England.  Flowgate rights are cumbersome, create unnecessary uplift costs - freezing power distribution factors is bad and could result in some free rides.  She is a Hogan follower, and Hogan says flowgates can be done but are too difficult.  With regard to the relationship between CM and resource planning, transmission is a monopoly, and the CM principle is that entrepreneurs make a decision - decide where to site generation or transmission and take a risk.  FERC should not override that principle.  Proposals for transmission expansion can undercut congestion management.

Reem Fahey:  RTO needs to be the grid operator and the market operator.  Cannot use different bid stacks for balancing and congestion.  CM should have a bid-based structure with LMP.  Design of CM should allow flexibility for market participants to be in the spot and forward markets.  Transmission rights - must be financial and not physical and must allow for financial hedging in real time.  FERC should work towards the creation of trading hubs and market participants should have rights from hub to hub and hub to load.  These rights should not interfere with real time dispatch of the system.

Carol Guthrie:  Her company has diverse interests in electricity market - over 4,000 service locations, over 150 suppliers, more than 15 sites where they have industrial generation serving own load (500 MW).

Shmuel Oren:  Advocates minimal ISOs, direct assignment of congestion costs in real time, flowgate rights proposal because it requires less centralized coordination and supports forward rights.  Does not support "one size fits all."  Need to understand gaming, modes of market failure.  Problems in Texas - people scheduled to cause congestion and then were paid to relieve the congestion.  Need to charge for true congestion when it is predictable.

Andy Ott:  There is consensus in the industry that locational pricing works.  It's an operational tool used to manage reliability of the gird during constraints.  PJM has been using nodal pricing since 1998.  Utilities have run their system on this approach for years - economic dispatch to meet demand.  Cannot do balancing and CM separately -- does not work.  Transmission rights must be financial.  Spot market is physical.  Financial model is the hedging.  You need this separation because it allows players to do bilaterals or buy or sell from the spot market.  Also allows FTRs to be traded and used to protect from congestion.

Michael Schnitzer:  There is a preferred method of CM - the LMP based CM system with financial rights.  DAM and RT bid-based security constrained locational pricing markets.  Bilateral transactions are allowed.  Transmission rights must be financial, not physical.  Allows transmission users to hedge congestion costs.  Why is CM so important?  Need to get the prices right to give the right signals to the market.  Three goals:  1) get dispatch right - show bilateral contracts and load the right price signal so they can respond accordingly; 2) price signals to generation for location purposes - clarifies responsibility and risk allocations; 3) market signals for when to expand the grid - LMP gives economic price signal and property right in FTRs.

Locational Marginal Pricing

The panelists all agreed that LMP in the real time market is necessary (Schmuel Oren does not oppose it).  Most of the panelists think this needs to be standardized across RTOs.  Andy Ott says the seams will remain a problem and a barrier to trading if the real time market is not standardized.   Carol Guthrie does not favor standardization and urged FERC to not standardize the PJM system throughout the eastern interconnect.  She said FERC should try a couple of different systems and see what works.

FTRs versus Flowgates

The panelists agreed that transmission rights should be financial, not physical.  Schmuel conceded this point for the discussion but this may not be his preference - unclear.  Most of the panelists, including the PSC commissioner, prefer FTRs rather than flowgates.  Schmuel is a flowgate advocate.  After some discussion, the panelists agreed that FTRs and flowgates could work together, provided that the definition of flowgate is understood.  Andy Ott said flowgates could work with FTRs if the purpose of having flowgates is the same purpose of having hubs (liquidity, standard product), and if a flowgate is defined as a grouping of point-to-point rights, then FTRs and flowgates can coexist.  If a flowgate is a hub for transmission rights, it's okay.  However, if flowgate is defined as a physical boundary requiring scheduling, the two cannot coexist.  Schmuel seemed to agree with this premise, although this is not his preference.  He seems to prefer only flowgates without FTRs.   Brockway seems to prefer FTRs rather than flowgates for fear that flowgates will result in excess socialization of costs.

The panelists also agreed generally that revenues generated from FTRs or flowgates should be allocated to load, but the method of allocation was not agreed upon.

FERC staff asked the panelists to discuss commercially significant flowgates.  Many of the panelists discussed the problem with deciding what constitutes a commercially significant flowgate, and what happens when circumstances change over time, resulting in different flowgates being commercially significant.  Schmuel said you could use either a system that relies only on commercially significant flowgates or one that uses all flowgates, but if participants are willing to accept a system where they are not perfectly hedged, use of commercially significant flowgates is acceptable.  The panelists agreed that these financial rights (either FTRs or flowgates) should be tradable in the secondary market.  The panelists disagreed on whether FTRs or flowgates are actually more tradable.  Andy thinks FTRs are more tradable; Schmuel thinks flowgates are more tradable.

 Options versus Obligations

The panelists discussed the benefits of having FTRs be options but also discussed the additional problems presented to the system operator if FTRs are only options and the FTR holder is not required to flow or pay if it does not flow.  Andy Ott said options will most likely result in fewer FTRs being allocated.  Schnitzer says the issue must be resolved up front.

The afternoon panel was on Transmission Planning and Expansion.  Steve Walton was a panelist and will be providing a summary of the discussion shortly.

 Let me know if you have any questions.

 Sarah


The purpose of this survey is to gather information regarding Enron,s current
employee and community services programs.  Your feedback is extremely
important. This survey may take at least 5 minutes.

Experiencing technical problems?  If this link does not automatically launch
the questionnaire:
1.  Launch by copying the link below into your browser, or
2.  If you continue to have technical difficulties, please send an email
message to human resources@enron.com. (Please leave the space between human
and resources).
3.  Please do not forward this link to anyone else, as it is unique for each
respondent.

http://etcsurvey.corp.enron.com/wi/p0537666/i.asp?r=380&s=QSQAOLMQ&l=9


PR01: 174
FOR IMMEDIATE RELEASE
04/26/2001

GOVERNOR DAVIS SIGNS EXECUTIVE ORDERS
TO PROVIDE POWER TO CALIFORNIA
SACRAMENTO
Governor Gray Davis has signed three executive orders to increase
stabilization, conservation and generation of power in California.
Executive Order D-34-01
Many numerous and complicated statutes, regulations, policies and procedures
are delaying deployment of the energy conservation funding outlined in SB 5X
and AB 29X signed by the Governor two weeks ago. Executive Order D-34-01 will
speed up implementation of the measures.
Together, the two bills provide over $850 million for energy conservation and
distributed generation programs designed to save over 2,000 megawatts this
summer. With the Executive Order, the Energy Commission will not have to go
through the cumbersome process of guideline adoption to approve funding. The
programs in the demand reduction program that will be streamlined included:
Public Agency Loans and Grants (ECAA);
Time-Of-Use and Real-Time Meters;
Municipal Program; and
Cool Roofs/Building Materials
Executive Order D-33-01
Governor Davis signed Executive Order D-33-01 to extend the conservation
rebate of the "20/20" program to the customers in the territory serviced by
the San Diego Gas and Electric Company. The program is designed to help the
state avoid the likelihood of blackouts this summer and reward consumers who
significantly conserve energy. In addition, it could save the state up to
$1.3 billion in power costs by reducing the amount of electricity the state
must buy during expensive summer peak periods.
Executive Order D-32-01
In Executive Order D-32-01, Governor Davis orders the transfer of funds from
the Energy Commission to the Department of Water Resources for implementation
of the power plant construction incentive program. Incentives will include:
$5,000 per megawatt (MW) of average electrical output on the first 100 MW and
$2,500 per MW for each MW above 100 MW, if brought on-line by July 1, 2001;
$4,000 per MW of average electrical output on the first 100 MW and $2,000 per
MW for each MW above 100 MW, if brought on-line between July 2, 2001 and
August 1, 2001; and
$3,000 per MW of average electrical output on the first 100 MW and $1,500 per
MW for each MW above 100 MW, if brought on-line between August 2, 2001 and
August 31, 2001.

Executive Order D-32-01

Executive Order D-33-01

Executive Order D-34-01

###

GOVERNOR GRAY DAVIS ?SACRAMENTO, CALIFORNIA 95814 ? (916) 445-2841


Amigos, I can't say anything about what we are doing out here.  I will tell
you this...the President told the military to be ready.  We are.

I appreciate the kind thoughts and words.  We're keeping the faith out here.
Take care.  Paul.


Its jmckay1

Thank you

 -----Original Message-----
From: 	Keiser, Kam
Sent:	Tuesday, August 28, 2001 8:10 AM
To:	Mckay, Jonathan
Subject:	RE: Viewing Reports

Absolutely.  I just need you NT logon ID and you will be set up soon after that.

Kam

x3-5781

 -----Original Message-----
From: 	Mckay, Jonathan
Sent:	Tuesday, August 28, 2001 7:55 AM
To:	Keiser, Kam
Subject:	Viewing Reports

Kam,

Could you please grant me access to the "EAST-P/L Totals" and "EAST POSITION Totals" Reports.  They are currently being sent to me via e-mail but I am unable to open them.

Best Regards,

Jon


It's a little hard to tell precise numbers from the charts so I need a "call
out" number from the charts ... specifically,what happened to microsoft's
turnover rate for how much stock decline -- eg did it go up 33% (from 9% to
12%) for "x" decline in the stock price?

	Suzanne Brown@ECT
	12/07/2000 11:39 AM

		 To: Steven J Kean/NA/Enron@Enron, Cindy Olson/Corp/Enron@ENRON
		 cc:
		 Subject: Correlation Analysis


PLEASE READ THIS IMPORTANT INFORMATION CONCERNING THE ENRON STOCK FUND IN THE ENRON CORP. SAVINGS AND ESOP PLANS

On Friday, January 11, trading of Enron stock was suspended on the New York Stock Exchange (NYSE).  All Savings and ESOP Plan transactions, including 401(k) payroll contributions,  involving this fund were placed in a pending status until trading resumed.

As announced by Enron's Office of the Chair on Wednesday, January 16, Enron stock would now be traded Over The Counter (OTC).  Upon receiving this information, work began immediately to develop a process that allows for OTC trades in the plans.

On Thursday, January 17, Enron initiated a process to facilitate OTC trades of Enron stock inside the 401(k) and ESOP and all pending transactions were processed using Thursday's closing price.

Now that trading has resumed, we urge you to review your investment elections to ensure that they are consistent with your investment goals.

As things change, we will continue to update you.

Enron Benefits Department


Stacey,

I think the idea of having two books stinks.  We would have to touch every deal every month to move the "prompt" long term month into the short term book.  (Ok - we only have five long term deals right now but ...)  Maybe I'm over reacting.  Do you know of any other instances where this is done to account for risks?

I think a better idea would be to continue with one book using one curve - Pushkar's front end and our curve 3+ years.  We keep the Rho & Drift from this book.
The SA traders could then execute trades with Pushkar to hedge our short term exposure.  They could tell us the P/L to report and in theory this would be the offset to
the short term Rho in the power book.

Martha

 -----Original Message-----
From: 	Glover, Sheila
Sent:	Monday, October 08, 2001 8:45 AM
To:	White, Stacey W.; Stevens, Martha
Cc:	Shahi, Pushkar; Carrington, Clara
Subject:	FW: Brazilian Curve

Stacey and Martha,

Clara and I met with Pushkar on Friday.  Take a look at the Proposal discussion and let us know your thoughts.

We are basically suggesting that we treat the front two years as MTM via all normal processes and the back years as a different process.

Thanks. Sheila

 -----Original Message-----
From: 	Glover, Sheila
Sent:	Friday, October 05, 2001 2:37 PM
To:	White, Stacey W.; Stevens, Martha
Cc:	Shahi, Pushkar; Carrington, Clara
Subject:	Braziliam Curve

Stacey and Martha,
This outlines our discussion yesterday between Stacey, Clara and myself.
I have given to Pushkar today.  We will discuss with him and set  up a meeting next week.
Sheila


Well have to go to Vegas I guess??

 -----Original Message-----
From: 	Baughman Jr., Don
Sent:	Tuesday, July 31, 2001 2:31 PM
To:	Will, Lloyd
Subject:	RE: data

I need a lot of help with the "Magic Cube!"

 -----Original Message-----
From: 	Will, Lloyd
Sent:	Thursday, July 19, 2001 7:30 PM
To:	Baughman Jr., Don
Subject:	data

 << File: 2000.xls >>  << File: 2001.xls >>

Hope this helps.  I can get more granular if you want as well as teach you how to use the magical cube.


Start Date: 1/19/02; HourAhead hour: 24;  HourAhead schedule download failed. Manual intervention required.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002011924.txt
Error: dbCaps97Data: Cannot perform this operation on a closed database
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
Error: dbCaps97Data: Cannot perform this operation on a closed database
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
Error: dbCaps97Data: Cannot perform this operation on a closed database
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
Error: dbCaps97Data: Cannot perform this operation on a closed database
Error: dbCaps97Data: Cannot perform this operation on a closed database
Error: dbCaps97Data: Cannot perform this operation on a closed database
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
Error: dbCaps97Data: Cannot perform this operation on a closed database


I just checked this deal in Audit Viewer and found that Bob had entered it
this afternoon, then backdated it for 1/8. I was going to ask him about the
delivery point just as you called him - sorry we crossed paths. Let me know
if there is anything else.

Kate


Mike Driscoll just talked with the broker, and they agreed to the price Enron
has - broker will change the checkout sheet now. Sorry for the confusion.

Kate

Evelyn Metoyer@ENRON
02/12/2001 11:10 AM
To: Kate Symes/PDX/ECT@ECT
cc: Michael M Driscoll/PDX/ECT@ECT

Subject: Re: STATUS- Re: 2/8/01 Errors

deal 517877 is a SELL for Q2 at COB AT $313............THIS DEAL HAS BEEN
CLEARED.
deal 517876 is a BUY for Q2 at MID-C AT 300.

Here is the amerex checkout for Mike Swerzbin with the deals he traded on
2/8/01.

   Kate Symes @ ECT                02/12/2001 12:43 PM

To: Evelyn Metoyer/Corp/Enron@ENRON
cc:

Subject: Re: STATUS- Re: 2/8/01 Errors

Mike still has not returned my calls, and is not at work today. I checked
with Mike Driscoll, Swerzbin's assistant, and he confirmed that 517876 should
be $300. It's an EES spread, and the other side (deal #517877)  is $313 - is
that what Amerex is looking for? He also checked into 517891 and found that
the delivery point should be SP-15. It's been changed.

Let me know if there are further questions.

Thanks,
Kate

Evelyn Metoyer@ENRON
02/12/2001 06:55 AM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: STATUS- Re: 2/8/01 Errors

What's the status of these two deals?

---------------------- Forwarded by Evelyn Metoyer/Corp/Enron on 02/12/2001
08:56 AM ---------------------------

Evelyn Metoyer
02/09/2001 02:05 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Re: 2/8/01 Errors

Hi Kate,

for ref 517891 the delivery point still shows as PV.........it should be SP-15
for ref 517876 the price stll shows $300....it should be $313

   Kate Symes @ ECT                02/08/2001 05:29 PM

To: Evelyn Metoyer/Corp/Enron@ENRON
cc:

Subject: Re: 2/8/01 Errors

517384 - price has been changed to $260
517891 - mike's book shows Palo delivery - desk was wrong - has been changed
to LTNW
517884 - price has been changed to $300
517876/877 - missing Amerex deals were under wrong desk (STCA) - have been
changed to LTNW

Also, I entered many of Mike's deals today, but in my rush forgot to re-set
my Deal Blotter defaults - so the deals went in under Short Term California
instead of Long Term Northwest. I've changed them all to the correct desk,
which should clear up the missing deals, and hopefully will make more sense
for your checkouts. Sorry about the confusion - entering deals for three
different desks at once gets a little hectic!

Let me know if you have questions.

Kate

Evelyn Metoyer@ENRON
02/08/2001 03:11 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: 2/8/01 Errors

Mike Swerzbin
deal 517384
Prebon shows price as $260.......Enpower has $250

Mike Swerzbin
deal 517891
Amerex shows delivery as SP-15...Enpower has PV

Mike Swerzbin
deal 517884
Amerex shows price as $300...Enpower has $200

 Mike Swerzbin
I am missing the following deal per Amerex:
Buys from EES Q2'01 Mid-C 25 mw at $313 peak hrs.


Chris,
I am sorry to keep bring this account up.  Thank you for the price change.  I
have all the months corrected; however, Akzo got invoice incorrectly for
February, March and April.  The coordinator who invoice them use the January
NGI index price instead of the correct month index.  The amount they owe ENA
is $17,561.05.  ENA owes them (7,922.93) for some volume allocation for
December 2000.  So the net amount they owe ENA is $9,638.12.
I need to invoice them for the incorrect NGI index used and also to give them
back the credit owed to them.   Let me know if this is ok with you.
isabel

PS I promise this is it.


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EEI's State Restructuring Service Web Site was just launched last month and
recorded over 11,000 hits in October.  We think that if you are at all
interested in what's going in restructuring states in response to
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The State Restructuring Service includes:

o  News and analyses of noteworthy legislative, regulatory and judicial
decisions as they occur
o  Implementation decisions in restructuring states
o  Noteworthy restructuring-related actions in other states, even if not of
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o  E-mail notification of all noteworthy restructuring and related actions
o  E-mails are posted to the Web site's Action Alerts section within 24 hours
o  Site's Action Alerts are browsable and fully searchable
o  Hyperlinks to all Web posted source documents are provided
o  Policy overviews and analyses of all comprehensive restructuring laws and
regulatory decisions

The service includes e-mail notification of breaking restructuring actions,
as well as full access to the Web site.  For those who just need a heads up
about noteworthy state policy actions, the e-mail service is available as a
separate stand-alone service (free to members) or for half the price of the
full Web service.  We cover all aspects of restructuring the electric utility
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state level from the comprehensive laws, to regulatory and judicial decisions.

Availability --------------------------->

The Web site is available to EEI members (free of charge) and to anyone else
for a fee at:
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Please see the attached MS Rich Text Format file with more information about
how members can get an ID/Password, as well as the pricing and subscription
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Please feel free to forward this e-mail (with attachment) to anyone you think
might be interested in staying informed of state restructuring policy
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Thank you for your interest in our State Restructuring E-Forums!

Norman Jenks and Lynn Hailes

 - SRSBrochureText.rtf


Attached is the July [initial issue] of a monthly newsletter covering topics
in the natural gas industry.

If you do not wish to receive future issues, please reply to this e:mail with
Remove typed in the body of the e:mail.

Rita Hartfield
Phone:  713-853-5854
Cell:  713-304-5428
Fax:  713-646-4702
rita_hartfield@enron.net


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Dear Jennifer,

Two large mergers are done deals.? Valero Energy is buying rival Ultramar
Diamond Shamrock for $4 billion in cash and the assumption of $2 billion in
debt today.? The acquisition creates the second-largest refiner of petroleum
products in the U.S. Williams Energy, parent company of ENL, also completed
a $2.8 billion deal to buy Denver-based Barrett Resources.? The deal more
than doubles Williams' natural gas reserves, and now makes Williams a
producer and distributor of natural gas.? Today ENL brought you interviews
with the CEOs from all four companies.? If you happened to miss it, log onto
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Tomorrow, the Houston bureau will report on the Rig Insight Company.? Kim
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companies can access rig data such as day-rates and availability.? Be sure
to catch this report from Houston tomorrow.? Later in the week, Kim will
take a trip to Texas Southern University for an interview with Dr. Joshua
Hill to talk about the University's solar technology department.? Kim says
TSU has the largest solar lab facility in the South, and produces solar
panels for use all over the world.? Log on Friday when ENL sheds some light
on the solar panel issue.

Coming up tomorrow, Cook Inlet's Gregory Craig is scheduled to join us
from our Houston bureau.? Craig will be in to discuss Cook Inlet's joint
venture with Mirant.? We'll bring you all the details in the 10:00 a.m. EST
broadcast.

This is a dynamic industry and things are subject to change at a moment's
notice.? Occasionally guests cancel or change time slots.? We'll continue to
do our best to keep you updated on future interviews and events.

Keep it on energynewslive.com
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CALENDAR ENTRY:	APPOINTMENT

Description:
	Chuck Wilkinson

Date:		1/12/2001
Time:		8:30 AM - 9:00 AM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


Attached are the minutes from the February 6 Corporate Responsibility Task
Force meeting.   Also attached is a chart outlining in more detail the
metrics for success for each subcommittee.  The second document is the result
of a meeting among subcommittee chairs and other interested task force
members to help flesh out their purpose as a step toward developing a
measurable work plan.

Let me know if you have questions or comments.  If you have not been
contacted already, you will be hearing from your subcommittee chairs shortly
regarding your next subcommittee meeting.  We also plan to set the date of
the next overall task force meeting within the next couple of weeks.