You are welcome to attend the following meeting in the area of quantitative
and computational finance and risk management in the MRC Auditorium on
the Georgia Tech campus from 1 pm to 6 pm on Friday, March 30th.

There will be five speakers that will give presentations on a variety of
topics.

Dr. Curt Hunter, Research Director, Federal Reserve Bank of Chicago

Dr. Mary Mathewes Kassis, Associate Director,
Georgia State University Economic Forecasting Center

Dr. Alan White, Professor of Finance, University of Toronto, and
Mr. Pete van Amson, CFA, CPA, Vice President, Product Management,
SunGard Trading and Risk Systems

Dr. Dennis Wong, Vice President, Quantitative Finance,
Bank of America Securities

There is no charge for the event.
This will be the inaugural meeting of the Atlanta Chapter of the Global
Association of Risk Professionals (GARP). You need not be a member of GARP
to attend the meeting. Information about GARP can be found at
http://www.garp.com.

We are asking that attendees RSVP so that plans can be made for refreshments.
We only ask that you reply to this email or to atlanta@garp.com before
March 21 if you plan to attend. In addition to a break half-way through the
afternoon, there will be refreshments immediately following the presentations.

This event is sponsored by the Master of Science in Quantitative and
Computational Finance program at Georgia Tech, SunGard Trading and Risk
Systems, and
SunTrust Banks, Inc.

Please pass along this announcement to your associates.
_______________________________________________________________________
Information about the talks and the speakers

Dr. Curt Hunter
Research Director, Federal Reserve Bank of Chicago

Dr. Hunter's discussion is entitled "Lessons Learned from Recent Global
Financial Crises."  Since 1990, major banking and currency crises have
occurred in many countries around the world - including Mexico and Latin
America in 1994, East Asia in 1997-98, and Russia and Brazil in 1998,
among others - with large costs both to the individual countries
experiencing the crises and to other nations.  As a result, considerable
effort has been expended by economists and policymakers to identify the
causes of these crises and to design programs with the aim of preventing,
if possible, similar crises from occurring in the future, and minimizing
the costs when they do occur.  This talk reviews the key lessons
policymakers have learned from these recent episodes and highlights the
role that risk management plays in crisis prevention.

Dr. William C. (Curt) Hunter is senior vice president and director of
research at the Federal Reserve Bank of Chicago.  He is a member of the
Bank's Management Committee and serves as the Bank's chief economist.
He is responsible for a staff of 115 professionals and oversees the
Bank's research activities in the areas of monetary policy, banking
and financial markets, and regional economics programs.  He is also
responsible for the Bank's Statistical and Financial Reports function.
Dr. Hunter is an associate economist on the Federal Open Market Committee,
the Federal Reserve System's primary monetary policy group.
Previously, he was a vice president at the Federal Reserve Bank of
Atlanta and has served on the faculties of the University of Georgia,
Emory University, Chicago State University, and Northwestern University.
He has consulted with numerous foreign central banks, official agencies,
and private corporations and serves on the boards of several research
and nonprofit organizations.  He is co-editor of Research in Banking
and Finance and serves on the editorial boards of several academic
journals.   Dr. Hunter earned a B.S. degree in 1970 from Hampton
Institute (now Hampton University), an MBA in Finance in 1972 and a Ph.D.
in Finance and Environment in 1978 from Northwestern University.

Dr. Mary Mathewes Kassis
Associate Director, Georgia State University Economic Forecasting Center

Dr. Kassis will provide her outlook for the Georgia and Atlanta economies
over the next two years.  She will focus on economic risks specific to
Atlanta, including its exposure to the contraction of the IT sector,
potential over development of office space, and a declining rate of job
growth.  Regardless of your field, this should be a very informative
discussion.

Dr. Kassis has been analyzing the Southeast economy for over five years.
She writes a quarterly report that examines the current economic
conditions in 13 Southeastern states as well as an outlook for the next
couple of years. She also prepares an in-depth quarterly analysis of the
outlook for the Georgia and Atlanta economies.  She is regularly quoted
in publications such as the Wall Street Journal, the Atlanta Journal-
Constitution, and the Atlanta Business Chronicle.  Dr. Kassis received
a B.A. in Economics and Political Science from Agnes Scott College and
a Ph.D. in Economics from Georgia State University.

Dr. Alan White
Professor of Finance, University of Toronto
Mr. Pete van Amson, CFA, CPA
Vice President, Product Management, SunGard Trading and Risk Systems

Dr. Alan White and Mr. Peter van Amson will discuss applied term
structure modeling.  SunGard has implemented a version of the Hull-White
term structure model that banks use in measuring and managing the market
value sensitivity of various balance sheet components.  Peter will touch
on some of the complexities involved in modeling non-maturity deposits;
with regard to the term structure of interest rates, Alan will discuss
some of the problems and possible solutions in bridging the divide between
what is required from a theoretical standpoint and what is feasible
in a production process.

Dr. Alan White is a Professor of Finance in the Joseph L. Rotman School
of Management at the University of Toronto. His research is principally
in the area of derivative securities, their pricing and their use by
financial institutions for risk management. He is most noted for his
work on modeling the term structure of interest rates in a way that
is consistent with observed market data. Recently his research has been
focused on the pricing and management of credit risk.  Professor White
has published many scholarly articles, but is perhaps best recognized
for providing lucid insights into the practical application and
implementation of this research. Much of his material is included in
the best-selling book Hull-White on Derivatives, co-authored with
John Hull.

Mr. Peter van Amson is the Vice President of Product Management at
SunGard Trading and Risk Systems where he is responsible for the
development of all functional specifications for the BancWare product
suite.  In this capacity, he frequently interacts with SunGard
user-committees, leading academics, and other leading industry
practitioners.  He frequently makes presentations at conferences and
seminars sponsored by BAI, AMIfs, the OCC, as well as other organizations.
Prior to working with BancWare, Peter headed the Strategic Planning
Function for the Plymouth Rock Company, one of America's most profitable
insurance holding companies.  In this role, he helped define the
company's strategic vision as well as being involved in investment
analysis, asset/ liability management and quantitative profitability
aanalysis.  Peter has a B.S. and M.S. in Accounting from the State
University of New York at Binghamton.  He is currently a Ph.D. candidate
at the University of Michigan.  Peter has received numerous academic awards
and honors including the William Andrew Paton Fellowship at the
University of Michigan and the New York State Society of Certified
Public Accountants Award for Academic Excellence.

Dr. Dennis Wong
Vice President, Quantitative Finance, Bank of America Securities

Dr. Wong will discuss competing vendor approaches to credit risk
modeling, including CreditMetrics, KMV, CreditRisk+ and CreditPortfolio
View.  These models are viewed in a theoretical framework that
identifies migration probabilities, credit exposure and loss
aggregation.

Dr. Wong has a Ph.D. in Mathematical Finance from Carnegie Mellon
University.  He has given talks and seminars for the American
Mathematical Society, the Society for Industrial and Applied Mathematics,
the University of Toronto, and Georgia Tech.  He is the author of
"Generalized Optimal Stopping and Financial Markets", published in
Pitman Research Notes in Mathematics Series.


Any word?
---------------------- Forwarded by Kay Mann/Corp/Enron on 11/03/2000 04:52
PM ---------------------------

"Curreri, Joe" <JCurreri@ensr.com> on 11/03/2000 04:50:57 PM
To: "'Kay.Mann@enron.com'" <Kay.Mann@enron.com>
cc:

Subject: Contract Renewal

Hi Kay,

Could you please tell me the status of the October 24 letter requesting
renewal of the consulting services agreement?  The agreement expired this
week and we have been requested to submit additional work orders.

Thanks

Joe

**********************************************************************
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or entity to whom it is addressed.  Any unauthorized use, distribution,
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If you have received this communication in error, please contact the
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-----Original Message-----
From:  Rosman, Stewart
Sent: Monday, June 11, 2001 11:04 AM
To: Hall, Steve C.
Subject: FW: Pictures of Downtown Houston Tunnels Flooding

 -----Original Message-----
From:  Donovan, Terry W.
Sent: Monday, June 11, 2001 10:40 AM
To: Etringer, Michael; Wente, Laura; Chen, Andy; Rasmussen, Dale; Jones,
Karen E.; Thomas, Jake; Rosman, Stewart; Choi, Paul; Bill Jacqmein (E-mail);
Calvert, Gray; Wax, Brandon
Subject: FW: Pictures of Downtown Houston Tunnels Flooding

Good Houston pictures!

 -----Original Message-----
From:  Cross, Edith
Sent: Monday, June 11, 2001 12:32 PM
To: Donovan, Terry W.
Subject: FW: Pictures of Downtown Houston Tunnels Flooding

 -----Original Message-----
From:  Dahlke, Andrea
Sent: Monday, June 11, 2001 11:06 AM
To: Cross, Edith; Hiemstra, Nick; ACrow@heart.org; ELMohle@heart.org;
kdahlke@kingwoodcable.com
Subject: FW: Pictures of Downtown Houston Tunnels Flooding

Wait until you see these!


i want to get a job at comopaq too!

Shanna Husser@ENRON
05/25/2000 08:34 AM
To: Eric Bass/HOU/ECT@ECT
cc:
Subject:

you know what . . .   you better just learn to like my "attitude" . . .
alright


Dear Mr. Lay:

Attached please find an invitation to GE Crotonville's Best Practice Sharing
Session in Europe.  The sessions are scheduled between November 14-16 and
November 27-29 with GE Executives from our Business Management Course (BMC).

Regards,

Toni

Toni Schlener, Senior Executive Interviewer
FGI, Customer Research and Quality Consulting
(919) 932-8659 Fax (919) 932-8694
Tschlener@fginc.com

 <<Alert Letter 3003_final.doc>>

 - Alert Letter 3003_final.doc


You will do fine on the exam.  Do not worry!!!!
No, the new garage is still under construction.
Yes, you were spoiled !  Glad to know California is still full of fruits and
nuts and the women are inferior to TEXAS women.

Take care!

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


The e-mail references a memo previously prepared by Antonio Felix.  Can you
tell me the date of that memo?  I only have two (2) Tozzini memos (12/26/97
and 2/20/98).  Thanks.  Sara

Michael Guerriero@ENRON_DEVELOPMENT

08/20/99 07:45 AM

To: Sara Shackleton@ENRON_DEVELOPMENT
cc: Gustavo Junqueira/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, D'Arcy
Carroll/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Maria Ines
Granado/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: Brazilian Regulations for Swaps & Prepays

Don Black has suggested we get you in the loop on the below issues we are
seeking answers on. We have some pending financial transactions that we would
like to work through all the Brazilian mechanics before proceeding. Your
primary contact down here for this issue will be Maria Ines Granado. Please
provide us with your comments as soon as possible so that we do not encounter
a transactional conflict.

Gustavo thank you for all your work to date we will keep you briefed to make
sure we have your input. Please follow up on the Tozzini issue we discussed
to make a final decision on their input.

Thanks
MFG

---------------------- Forwarded by Michael Guerriero/ENRON_DEVELOPMENT on
08/20/99 09:40 AM ---------------------------

	Enron International

	From:  Gustavo Junqueira                           08/17/99 06:19 PM

To: afac@tfts.tozzini.com.br
cc: Andrea Bertone/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Michael
Guerriero/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, D'Arcy
Carroll/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Marcelo
Parodi/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Scott
Porter/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Maria Ines
Granado/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, David S
Reinfeld/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT

Subject: Brazilian Regulations for Swaps & Prepays

Antonio Felix,

As Enron is finding several opportunities involving financial derivatives in
Brazil, we would like to get from Tozzini Freire Law Firm a summarized but
concise read on the "cans and cannots" of these type of transactions in
Brazil. Here is my understanding of the regulations from the memo you have
already sent to us regarding swaps and prepays as well as a list of the most
common examples of deals that Enron would be encountering in the marketplace.
I would appreciate if you could comment on what is written here and also add
further information so Enron can have some sort of menu of deals of this
nature that can be pursued. I would like to ask you to add your comment in
this same message to make the review process a little easier. Thank you
inadvance for your attention.

Swaps (Pulp & Paper, Petrochem, Power)

OTC Swaps

The Central Bank regulates swap transactions involving local financial
institutions acting either as dealers for their own account or as
intermediaries to the contracting parties. When the financial institutions
act as intermediaries, the agreements are in fact private agreements
negotiated by two non-financial companies, but become subject to the
requirements and regulations normally applicable to swaps involving financial
institutions. According to regulations currently in force, such swaps can
relate to exchange rates, interest rates, gold and price indices.

All of the swap agreements involving financial institutions must be
registered with CETIP or with another custody and clearing system authorized
by the Central Bank or the CVM (Brazilian SEC). As a matter of practice, the
agreements used by the banks that participate in the swap market do not
follow a standard form, since normally each bank has a particular sample form
with which it feels more comfortable.

Derivatives
In addition to exchange-traded derivatives and OTC swaps involving financial
institutions, there is no legal impediment, in principle, to derivatives
transactions being privately negotiated and entered into between two
interested parties. As a general rule in Brazil, as long as no specific
prohibition is found in the law, parties are free to negotiate agreements
that best suit their interests.

International Hedge
Central Bank regulations authorize that Brazilian companies enter into
transactions abroad, either in exchanges or having a financial institution as
their counterpart, to hedge against the fluctuation of interest rates,
exchange rates or commodity prices in the international markets.

Such hedge transactions must refer to payments in foreign currency scheduled
to be made by or to the Brazilian company in respect of commercial or
financial rights or obligations, or to payments in local currency arising out
of certain financial obligations subject to the variation of exchange rates
and payments relating to imports, exports or local transactions involving
commodities priced according to their valuation in foreign exchanges. The
commercial market exchange rates are applicable to foreign exchange
agreements referring to remittances of currency in connection with hedge
transactions.

When the underlying obligation/right is registered with the Central Bank, the
corresponding hedge transaction must be informed to the Central Bank within
10 days of its execution. When there is no registration with the Central
Bank, the banks executing the foreign exchange agreements relating to the
hedge transaction must verify the existence of the obligation/right being
hedged.

Examples

Commodity swap between two Brazilian companies:
As per what has been said above, there is nothing that precludes Enron Brazil
of entering into a swap with another Brazilian company regarding any
commodity traded by Enron (Pulp, Paper, Petrochem products, Power, Gas).
Enron does not need to be a financial institutions to provide swaps
transactions. On the other hand, I am not sure yet on the following points:
(1) Does such swap agreement should be registered with CETIP or any other
clearing system to be valid under Brazilian regulations? (2) What are the
taxes involved in a swap?

Commodity swap between a Brazilian company and an offshore company:
This kind of deal seems to be also available in the Brazilian market and the
only difference from example 1 would be the fact that it must be registered
with the Central Bank and it would involved transfer of foreign currency.

Commodity swap between two offshore companies but involving Brazilian exports:
I am not sure if Brazilian regulations would have anything to do with a
transaction like this one. I would assume that a Brazilian exporter would
sell to their offshore subsidiary and such subsidiary would sell to their end
customer. Enron would step in and offer a swap agreement for the offshore
subsidiary of the Brazilian company therefore Enron would not have any
involvement with Brazilian regulations because it would not be dealing with
Brazil.

Prepays (Pulp & Paper, Petrochem, Power)

The regulations currently in force governing export prepayments, especially
Central Bank of Brazil's Carta-Circular 2624, of February 14, 1996, establish
that all repayments of principal under such transactions must necessarily be
made by means of shipments of the relevant exported goods.  Carta-Circular
2624 allows cash remittances abroad only in regard to payments of interest
under the facility.  Therefore, it is not possible to structure a transaction
where the repayment of principal will be made only in cash or where the
borrower has the ability to choose between paying cash or exporting the goods.

A transaction that involves structuring a direct loan to the Brazilian
company where the value of the principal of which would be tied to the price
of the relevant commodity is very difficult to be approved.  Under a direct
loan registered with the Central Bank the borrower may remit all due amounts
of principal and interest in accordance with the schedule of payments
attached to the certificate of registration. The problem with such
alternative is that, although there are no express regulations preventing it
to do so, the Central Bank will most probably not issue a prior authorization
for such type of loan, as it only normally issues authorizations for normal
loans where the principal is a fixed amount and the interest rate is either a
fixed rate or a floating rate (normally based on LIBOR or US Treasury).  It
should also be noted that generally speaking all interest payments under such
an agreement are subject to withholding tax at the rate of 15% p.a.

CC 5 Account

A possible alternative way to structure a prepay would be by using a
non-registered loan with the Central Bank.  Under such alternative, the funds
disbursed by Enron under the loan would be remitted to Brazil through an
international transfer of Brazilian currency, as allowed by Circular 2677 of
the Central Bank of Brazil. The international transfer of Brazilian currency
("International Transfer") is a system which uses a non-resident current
account in Brazil and the Brazilian interbank foreign exchange market to
effect remittances of funds to and from Brazil.  Under such system, a lender
that wishes to disburse funds to a Brazilian borrower makes a foreign
currency deposit with a bank located outside of Brazil ("offshore bank")  and
instructs the offshore bank to deliver such dollars to a Brazilian bank in
exchange for Brazilian currency.  Such Brazilian currency is then deposited
in a non-resident account held by the offshore bank in Brazil and thereafter
transferred to the borrower. The repayments follow the inverse procedure,
i.e. the borrower deposits the amount in a non-resident account of an
offshore bank and instructs it to exchange the funds into foreign currency
and deliver them to the lender abroad.

The main differences between the registered loans and the non-registered
loans are that the non-registered loans are not subject to prior approval by
the Central Bank of Brazil (and therefore not subject to scrutiny as to their
minimum tenors and applicable interest rates) and the applicable foreign
exchange rate to non-registered loans is the floating rate (as opposed to the
commercial rate of exchange). All transfers of funds to Brazil as
International Transfers are subject to a Financial Transactions Tax ("IOF")
at the rate of 2% on the amount transferred, plus a bank fee that normally
ranges from 0.4% to 0.6% of such amount.  Any interest payments under a
non-registered loan are subject to withholding tax at the rate of 15% (or 25%
if the lender is located in a tax-haven jurisdiction).

I don't think this type of transaction is the best way to circumvent some of
the Brazilian regulations regarding prepayment given the bad press that deals
via the CC 5 Account mechanism would bring to Enron but I have it addressed
just in case someone does not share the same opinion.

Examples

Financial prepay between two Brazilian companies
Not allowed unless the company providing the prepay qualifies as a financial
institution as per Brazilian law. Since it will not be the case in Enron's
cases, we should not focus in these kind of transactions.

Financial prepay between a Brazilian company and an offshore company
As it has been mentioned before it is allowed as long as Enron can structure
the prepay in way where there is a pre-established amortization schedule for
principal and interest. It is very hard to structure a prepay with specific
split between principal and interest because the objective of the prepay is
to lock on a certain volume of a product and not on a specific price.
Therefore, if Enron prepays for a specific product on a floating basis the
attached value of that commodity can go up or down as the market fluctuates
as well as the total value associate to the deal. Such value can be either
principal or interest and it is impossible to determine what it will be.

Financial prepay between two offshore companies but one being a subsidiary of
a Brazilian entity
I think there is no restrictions in this case given the whole deal will be
closed offshore and the Brazilian authorities are not going to be involved.
It will most likely be a deal involving three parties: a company in Brazil,
its offshore subsidiary and Enron.

Physical prepay between two Brazilian companies
No restrictions.

Physical prepay between a Brazilian company and an offshore company
No restrictions as long as there is physical deliveries.

Physical prepay between two offshore companies but  involving Brazilian
exports
No restrictions. It would also involve three parties: a company in Brazil,
its offshore subsidiary and Enron.

Thanks,

Gustavo


As i left on your voice mail..My thoughts below..On target? Needs Work? I am
in Toronto so call Linda Wilson @ 707-937-3745

Possible Session Teaser -- CFEE
How can we make room for and encourage new technologies?  The regulatory
agencies need find innovative ways to uphold the federal and state clean air
acts while at the same time not allowing offset or BACT requirements prevent
emerging technologies from getting a chance to prove themselves and their
promise of reductions beyond the current standards.  How can this be done?


IntercontinentalExchange
                                                                                Firm Physical Natural Gas Price Bulletin
                                                                                For Natural Gas Delivered on Thursday, November  22, 2001 thru Monday, November  26, 2001
                                                                                (Trade Date of Wednesday, November  21, 2001)
Click here to access index history .
                                                                                * volume represents sell-side only *

Region     Hub	High	Low	Wtd Avg Index	Change ($)	Vol (mmBtu)	Hub Name
 LOUISIANA
    ANR SE	          $2.0100	          $1.6000	          $1.8645	-    .7481	       1,068,000	American Natural Resources Pipeline Co. - SE  Transmission Pool
    Columbia Onshore	          $2.0600	          $1.6300	          $1.8317	-    .6560	       1,342,500	Columbia Gulf Transmission Co. - Onshore Pool
    Henry Hub	          $2.2450	          $1.6700	          $1.9115	-    .7065	       5,318,000	Henry Hub tailgate - Louisiana
    NGPL LA	          $1.9800	          $1.6300	          $1.8028	-    .7152	         935,500	Natural Gas Pipeline Co. of America, Louisiana Pool
    Tenn 500L	          $1.8800	          $1.6025	          $1.7718	-    .7577	         603,000	Tennessee Gas Pipeline Co.-Zone L, 500 Leg Pool
    Tenn 800L	          $1.9100	          $1.6000	          $1.8127	-    .6713	         775,500	Tennessee Gas Pipeline Co.-Zone L, 800 Leg Pool
    TETCO ELA	          $2.1700	          $1.6300	          $1.8862	-    .7131	         610,000	Texas Eastern - East LA
    TETCO WLA	          $2.0000	          $1.6100	          $1.7888	-    .8088	         946,000	Texas Eastern - West LA
    Transco 65	          $2.1100	          $1.7200	          $1.9390	-    .7366	       1,040,500	Transco - Station 65
    Trunkline ELA	          $1.9600	          $1.6000	          $1.8091	-    .7390	         369,500	Trunkline Gas Company - East Louisiana Pool
    TxGas SL	          $2.1500	          $1.6700	          $1.8971	-    .7273	         993,000	Texas Gas Transmission Corp.-Zone SL FT Pool
 MIDCONTINENT
    MichCon, citygate	          $2.2500	          $2.0000	          $2.1075	-    .6977	         977,000	Michigan Consolidated
    NGPL Midcont	          $1.8400	          $1.5800	          $1.7032	-    .7773	         764,500	Natural Gas Pipeline Co. of America, Mid-Continent Pool
    NGPL Nicor, citygate	          $2.1650	          $1.7475	          $1.8816	-    .7266	       2,890,000	Natural Gas Pipeline Co. of America, Nicor Citygate
    NGPL NIPSCO, citygate	          $2.0850	          $1.7900	          $1.8770	-    .8610	         450,000	Natural Gas Pipeline Co. of America, Nipsco Citygate
    NNG Demarcation	          $1.9700	          $1.6700	          $1.7476	-    .7355	         907,500	Northern Natural Gas, Demarcation Pool
 NORTHEAST
    Columbia TCO	          $2.1000	          $1.6800	          $1.9483	-    .7804	         772,500	Columbia Gas Co. - TCO Pool
    Dominion So.Point	          $2.3800	          $1.8400	          $2.1367	-    .7606	         997,000	Dominion - South Point
    TETCO M3	          $2.3100	          $1.9200	          $2.1651	-    .8869	         831,500	Texas Eastern - M3 Zone
    Transco Z-6 (NY)	          $2.4700	          $2.1500	          $2.3261	-    .9184	         725,500	Transcontinental Gas Pipe Line Corp. - Zone 6 (NY)
 WEST
    El Paso non-Bondad	          $1.6500	          $1.3200	          $1.4438	-    .9084	       1,081,500	El Paso - San Juan Basin, Blanco Pool
    Huntingdon/Sumas	          $1.9000	          $1.5000	          $1.6757	-    .7201	         732,000	Westcoast Energy & Northwest Pipeline Corp.
    Opal	          $1.6300	          $1.3200	          $1.4566	-    .7948	       1,024,000	Opal
    PG?Citygate	          $1.8500	          $1.6000	          $1.7012	-    .8513	         980,000	PG?- Citygate
    SoCal Border	          $1.8200	          $1.4500	          $1.5886	-    .9707	       1,145,000	Southern California Border Points (Ehrenberg,Topock,Needles)
 WEST TEXAS
    El Paso - Keystone	          $1.8500	          $1.4500	          $1.5963	-    .8563	       2,508,500	El Paso - Keystone Pool
    Waha	          $1.9000	          $1.5500	          $1.6598	-    .8520	       1,445,000	Waha Hub - West Texas

                                                                                Includes all firm physical fixed price trades done from 7 AM to 11:30 AM Central Prevailing Time on the trade date specified for natural gas delivered on the specified date(s).
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please call me  in the am,  i want to know again the term, and the basis
quotes for the weekend put that you are asking for.  I would also like to run
the methodology by you and see if you agree.

Pete


Attached is an updated file summarizing the action plan for completing Energy
OP's showstopper reports.  If you are responsible for an action item, please
keep me updated on your progress so that I can reflect it in the report
properly.  Thanks in advance for your help.

Let me know if you have any questions.

Thanks,

Rainier


Rice/Enron Finance Seminar Series Participants:

We are getting ready to kick off the 2000/2001 Enron Finance Seminar Series
at Rice University.

You can find the current schedule at http://www.ruf.rice.edu/~jgsfss/ .
Note that this is a new web address.

For your convenience, here are the dates and speakers lined up so far:

Sept 22    Jeff Pontiff, U. of Washington
Sept 29    Len Mirman, U. of Virginia
Oct    6    Charles Lee, Cornell
Oct   13   George Allayannis, Darden
Oct   20   William Goetzmann, Yale
Nov   17   Yacine Ait-Sahalia, Princeton (joint seminar with Rice Economics)

Mar    9    Paul Schultz, Notre Dame
Apr   27    Luigi Zingales, U. of Chicago

Lined up for the spring but date not yet scheduled:

Tim Bollerslev, Duke University
Matthew Richardson, New York University

As changes are made to the schedule, I will notify the distribution list.

In addition, as we have done in the past, we will post the abstract and a
downloadable version of the paper (if available) to the website a week or
two before the seminar.  The website will also provide a link to the
speaker's homepage so you can access his or her biographical
information.  If the paper is not available at the website, I will send a
hardcopy to interested Jones School faculty, to Felecia Jones (Economics),
Latha Ramchand (University of Houston), and Vince Kaminski (Enron).

I will e-mail an announcement before each seminar, reminding you of the
seminar date, time, and location.  The distribution list will include
everyone that receives this e-mail.  Please contact me at ostdiek@rice.edu
if you would like to be deleted from the mailing list or if you know of
someone who should be added (new PhD students, new faculty, etc.).

bbo

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

Barbara Ostdiek
Assistant Professor of Finance
Jones Graduate School of Management
Rice University
6100 Main Street - MS 531
Houston, TX 77005-1892

713-348-5384 (voice)
713-348-5251 (fax)
ostdiek@rice.edu
www.ruf.rice.edu/~ostdiek/


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 10/12/2000
04:20 PM ---------------------------

"Les" <les@lacimagroup.com> on 10/11/2000 11:06:15 AM
To: "Julie" <julie@lacima.co.uk>, "VinceJKaminski"
<Vince.J.Kaminski@enron.com>
cc:
Subject: Re: EPRM article

Julie/Vince
?
I worked on both the last couple of nights and made quite  a few small
"improvements".
?
Vince - if the 2nd article (EPRM_02_mr.doc) is OK with you  then that is
ready.
?
The 3rd article needs fig 1 updating still will hopefully  do that this w/e.
?
Les.
?
 - eprm_02_03.ZIP


Where is the meeting?  Sara

	Calendar Entry

Brief description:
Date:
Time:

discussion of setting up a power marketing arrrangement in a foreign country
10/18/99
10:00 AM - 11:00 AM

Detailed description:

Invitations have been sent to: Alan Aronowitz/HOU/ECT, Sara Shackleton/HOU/ECT
_________________________________________________________________________
Chairperson: Lou Stoler/HOU/ECT
This meeting repeats   starting on    (if the date occurs on a weekend the
meeting ).


The Blue Chips

Here's my updated list of the top Texas football recruits. I have inserted *
* * * at each position to separate the Fabulous 40 from the rest of the Elite
80.

The Elite 80 Recruits

Quarterback (6)
Matt Nordgren, 6-5, 225, 4.7, Dallas Bishop Lynch (UT, A&M, Colo, Fla)
Jason Carter, 5-11, 180, 4.5, Caldwell (A&M Commitment)
* * * *
Mike Pankratz, 6-3, 200, 4.8, Katy Taylor (A&M, UCLA, OU, KSU, ND)
Davon Vinson, 6-3, 185, 4.5, Kilgore (A&M, Ark, OU, Bay)
Tye Gunn, 6-4, 200, 4.62, La Grange (TCU Commitment)
Kevin Ford, 6-0, 188, 4.5, Madisonville (Rice Commitment)

Running Back (7)
Cedric Benson, 5-11, 200, 4.5, Midland Lee (UT Commitment)
David Underwood, 6-0, 220, 4.38, Madisonville (Michigan Commitment)
Anthony Johnson, 5-11, 195, 4.4, Jefferson (KSU, UT, FSU, TCU, OU, LSU)
Donta Hickson, 5-9, 180, 4.4, McKinney (FSU, Neb, A&M, OU, Mich, Tenn, TT)
* * * *
David Williams, 5-11, 180, 4.4, Carrollton Smith (FSU, A&M, Colo, OU, Mia)
Anthony Evans, 5-9, 195, 4.5, Pearland (Bay, A&M, Az, KSU, UCLA)
Cody Thibodeaux, 6-1, 200, 4.5, Winnie East Chambers (A&M, Neb, Ok St, LSU)

Fullback (2)
Darnell Sims, 6-2, 230, 4.7, Aldine (A&M, UH, LSU)
* * * *
Mark Pierce, 6-2, 215, 4.6, Weatherford (TCU Commitment)

Tight End (1)
James Moses, 6-3, 225, 4.7, GP North Shore (UT, A&M, Az, Mich, Colo)
* * * *

Wide Receiver (10)
Armon Dorrough, 6-1, 168, 4.4, Lancaster (ND, Tenn, Mia, Fla, FSU, A&M)
Brandon Jones, 6-3, 205, 4.4, Texark. Liberty-Eylau (Ky, Ark, A&M, FSU, UT)
Bennie Brazell, 6-2, 168, 4.4, Houston Westbury (LSU, UCLA, Ark, Ky, LSU, Mia)
Thomson Omboga, 6-2, 175, 4.5, Grand Prairie (UT, OU, ND, Ga, A&M, Mo)
Cedric Williams, 6-0, 170, 4.4, Jefferson (KSU, FSU, LSU, Neb, A&M, OU)
Keith Mills, 5-11, 175, 4.4, Garland (A&M, UT, FSU, Fla, Ark, TT, OU)
* * * *
Terrence Thomas, 5-9, 175, 4.4, Houston Washington (Mia, FSU, UCLa, A&M, UH)
Corey Roberts, 6-4, 190, 4.4, Carthage (LSU, A&M, SMU, TCU, UT)
Jesse Woods, 6-4, 190, 4.5, Katy Taylor (A&M Commitment)
Kenneth Shelton, 6-1, 175, 4.4, Port Arthur Jefferson (A&M, OU, TT, UT)

Offensive Line (13)
Jonathan Scott, 6-7, 290, 4.9, Dallas Carter (UT Commitment)
Jami Hightower, 6-4, 295, 5.2, Jacksonville (UT, A&M, FSU, OSU, TCU)
Ben Wilkerson, 6-4, 265, 4.9, Hemphill (A&M, Mich, ND, Neb, Ark, LSU, OU)
Abe Robinson, 6-6, 270, 4.9, Jersey Village (UT Commitment)
William Winston, 6-6, 330, 5.3, Houston Madison (A&M, UT, LSU, Mia, Syr)
Mike Garcia, 6-5, 280, 5.2, Galena Park (UT Commitment)
* * * *
Will Allen, 6-5, 300, 5.2, Cypress Falls (UT Commitment)
Terrance Young, 6-6, 330, 5.5, Longview (UT Commitment)
Bryan Kegans, 6-6, 305, 5.2, Stephenville (Texas Tech Commitment
Shane Simms, 6-2, 300, 4.9, Tomball (TCU Commitment)
Roman Reeves, 6-6, 295, 5.2, Livingston (UT Commitment)
E. J. Whitley, 6-5, 290, 5.3, Texas City (Kentucky Commitment)
Clint O'Neal, 6-6, 290, 5.2, Weatherford (Colorado Commitment)

Defensive End (8)
Kevin Everett, 6-5, 235, 4.6, Port Arthur Jefferson (UT, ND, Colo, Pur, Mia)
Lawrence Hooper, 6-4, 255, 4.7, Aldine (A&M, PSU, LSU, Colo, Fla, OSU, UCLA)
Simeon Jones, 6-3, 240, 4.7, Houston Jones (A&M, UH, Colo, UT, Bay)
Jamie Jackson, 6-3, 225, 4.7 Andrews (TT, OU, A&M, UT)
McKenzie Tilmon, 6-3, 235, 4.7, Irving MacArthur (KSU, UT, A&M, Tenn)
* * * *
Colin Allred, 6-3, 225, 4.7, Dallas Hillcrest (UT, Neb, TT, TCU, Mich)
Bret Rayl, 6-7, 265, 4.9, Lewisville (A&M, FSU, OU, PSU, TCU)
Quintene Newhouse, 6-2, 250, 4.7, Emory Rains (A&M, Ky, Mich, UT, Bay, TCU)

Defensive Tackle (7)
Tommie Harris, 6-3, 280, 4.8, Killeen Ellison (UT, FSU, A&M, Mia, UCLA)
Thomas Derricks, 6-1, 275, 4.9, Dallas Jesuit (PSU, ND, Neb, A&M, TCU)
* * * *
Clayton Harmon, 6-6, 260, 5.1, Stephenville (Texas Tech Commitment)
Sharod McGowan, 6-2, 250, 4.7, Waco (A&M, UT, TT, NC, OU, NC)
Brandon Goodlett, 6-2, 280, 5.1, Conroe (Ky, OU, Neb, UT)
Jeremy Calahan, 6-3, 260, 5.0, Pflugerville (UT, ND, A&M, OSU, Stan, TCU, Van)
Fred Thwreat, 6-2, 270, 4.9, Midland Lee (TT, A&M, Az)

Outside Linebacker (6)
Derrick Johnson, 6-3, 205, 4.5, Waco (UT, FSU, A&M, OU, Ark, UCLA)
Jonathon Jackson, 6-3, 225, 4.56, GP North Shore (UT, A&M, Mia, Colo, PSU)
Lance McFarland, 6-1, 225, 4.6, Jefferson (UT, KSU, Ark, OU, FSU, LSU)
* * * *
Lee Foliaki, 6-2, 200, 4.5, Euless Trinity (A&M, UT, FSU, Neb, KSU, TCU)
Shawn Willis 6-2, 215, 4.6, Flatonia (A&M, FSU, UT, Bay, TT)

Inside Linebacker (2)
Yamil Lebron, 6-2, 240, 4.7, Killeen Ellison (UT Commitment)
* * * *
Jeff Billings, 6-2, 232, 4.7, Pasadena Rayburn (A&M, Ky, Az, ASU, NW)

Cornerback (7)
Byron Jones, 5-10, 180, 4.4, Bay City (LSU, UCLA, A&M, NW, Ark, Ky)
Cedric Griffin, 6-1, 180, 4.42, San Antonio Holmes (UT Commitment)
Danielle Manning, 5-11, 187, 4.4, Corsicana (A&M, UT, TCU, La Tech)
Moses Harris, 6-1, 170, 4.4, Dallas Carter (FSU, OU, Mia, TCU, Gramb)
* * * *
Dee Durham, 5-11, 174, 4.4, Mansfield (Colo, Mich, Mia, OSU, VT, UT)
Warren Wilson, 6-0, 170, 4.4, Texas City (Pur, A&M, LSU, Ky, Az)
Courtney Sterling, 5-7, 170, 4.4, Dallas Carter (Arizona State Commitment)

Safety (5)
Dewayne Brandon, 6-3, 198, 4.46, Temple  (UT, Neb, FSU, A&M, Ky)
Rufus Harris, 6-0, 180, 4.4, LaPorte (A&M, LSU, Az, Mia, Ky)
* * * *
Kendall Briles, 5-10, 175, 4.5, Wolfforth Frenship (UT Commitment)
Jarvis Mayes, 6-2, 180, 4.45, Dallas Kimball (A&M Commitment)
Jaxson Appel, 6-0, 190, 4.5, Friendswood (A&M Commitment)

Athlete (6)
Joseph Addai, 6-1, 195, 4.5, Hstn Sharpstown (KSU, UT, Neb, Kan, Mich, A&M)
Quan Cosby, 5-10, 180, 4.4, Mart (UT, A&M, UCLA, FSU, Bay)
Gainus Scott, 5-9, 170, 4.4, La Porte (FSU, Az, Tenn, Mia, ASU, Ky)
* * * *
Ryan Gilbert, 5-11, 180, 4.4, Dallas Hillcrest (Mich, Neb, Mia, Tenn, FSU)
Braden Johnson, 6-2, 200, 4.5, Euless Trinity (UT Commitment)
Brian Carter, 5-11, 180, 4.5, The Woodlands (UT Commitment
* * * *

The 25 "Difference Makers"

These are Texas' top 25 players, in my opinion, and I have seen all of them
play, either on tape or in person:
1. DT Tommie Harris, Killeen Ellison
2. OL Jonathan Scott, Dallas Carter (Texas)
3. OL Jami Hightower, Jacksonville
4. LB Derrick Johnson, Waco
5. RB Cedric Benson, Midland Lee (Texas)
6. S Dewayne Brandon, Temple
7. RB David Underwood, Madisonville (Michigan)
8. C Ben Wilkerson, Hemphill
9. QB Matt Nordgren, Dallas Bishop Lynch
10. OL Abe Robinson, Jersey Village (Texas)
11. LB Jonathon Jackson, Galena Park North Shore
12. DE Kevin Everett, Port Arthur Jefferson
13. WR Armon Dorrough, Lancaster
14. Ath Joseph Addai, Houston Sharpstown
15. DE Lawrence Hooper, Aldine
16. WR Brandon Jones, Texarkana Liberty Eylau
17. Ath Quan Cosby, Mart
18. WR Bennie Brazell, Houston Westbury
19. RB Anthony Johnson, Jefferson
20. TE James Moses, Galena Park North Shore
21. CB Byron Jones, Bay City
22. DT Thomas Derricks, Dallas Jesuit
23. LB Lance McFarland, Jefferson
24. OL William Winston, Houston Madison
25. RB Donta Hickson, McKinney

Out-of-State Prospects

Texas is recruiting several out-of-state players. Here are the ones who are
still considering UT:
Quarterback
Bret Rawls, 6-5, 200, 4.7, Shreveport Evangel (LSU, UT, FSU, Tenn)
Running Back
Jabari Davis, 5-11, 224, 4.5, Tucker, Ga. (Tenn, Ga, UT, Neb, Ala)
Eric Shelton, 6-3, 230, 4.45, Lexington, Ky., Bryan Station (Ky, FSU, Fla,
Tenn, UT)
Fullback
James Buchanan, 6-2, 240, 4.7, Sarasota, Fla. Mooney (FSU, UT, Fla, BC)
Tight End
Marcus Spears, 6-5, 275, 4.8, Baton Rouge Southern Lab (LSU, A&M, Mich, UT)
Defensive End
Eric Hall, 6-3, 232, 4.5, Clarksville, Tenn., NW (UT, FSU, Tenn, Neb, LSU)
Shaun Cody, 6-5, 255, 4.8, Los Altos, Cal. (USC, UCLA, UT, Az, ND)
Kaelen Jakes, 6-5, 260, 4.8, Valencia, Cal. (UT, Az, USC, Neb, UCLA, Wash, ND)
Defensive Tackle
Marquise Hill, 6-7, 290, 4.8, N. Orleans De La Salle (FSU, LSU, Mich, A&M, UT)
* * * *
On the out-of-staters, UT has a 50-50 shot at Hall, and Rawls, Jakes and
Buchanan also are very seriously considering the Longhorns. Cody says he
definitely will visit UT, so the Horns have a fair chance with him. The odds
are much longer on Davis, Shelton, Spears and Hill.

Scouting Louisiana-Lafayette

If the Longhorns don't break their 10-quarter scoring drought quickly in
their Sept. 9 season opener against Louisiana-Lafayette in Austin, it will be
a very bad sign.
The Ragin' Cajuns didn't do much ragin' last season, going 2-9 with their
only victories coming over 1-AA Wofford and Middle Tennessee.
They also gave up an average of 219 yards per game rushing and allowed
opposing backs to average 5.5 yards per rush.
The Cajuns run a spread offense with four wideouts, but they didn't score a
touchdown until their fifth game last season.
Coach Mack Brown says you don't really know what you have until you start
playing other teams. He still won't know after this day in the park.
The game starts at 11:30 a.m. on Sept. 9 and will be televised by the Fox
Network on a syndicated basis.

Baseball Adds 1, Loses 1

The Longhorn baseball coaches have signed shortstop Shaff Elkouri, 5-11, 175,
from Seward County JC in Kansas, but they lost one of their prized recruits
last weekend when slugger Jason Stokes of Coppell signed with Florida for $2
million.
Elkouri will be a sophomore at Texas this season.

Big Basketball Recruiting Week Coming Up

The season opener in football is always big news, and it's also going to be a
big deal for basketball this year because both Longhorn teams have some
big-time recruits taking official visits the Sept. 9 weekend.
It's really big for the men, who have only one scholarship remaining. T. J.
Ford, the 5-11 point guard who led Fort Bend Willowridge to the state Class
5A championship last season, will visit.
Ford is the player the UT coaches want, and there is a chance he will commit
on his visit.
The Longhorn women have three scholarships left, and two outstanding players
have scheduled visits for the Sept. 9 weekend.
One of them has a name you will remember. She is Lauren Selmon, a 6-0
guard-forward from Norman, Okla.
If that rings a bell, you are right. She is the daughter of Dewey Selmon, one
of those three great defensive line brothers who starred at Oklahoma a
quarter of a century ago.
I was in Oklahoma, working as a political reporter for The Associated Press,
when the Selmons played at OU. Unlike some of the later Sooner stars, who
made the wrong kind of headlines off the field, the Selmons are fine people
The other is Jody Bell, a 6-2 forward from Chestermere HS in Alberta, Canada.
She averaged a triple double last season (14 points, 10 assists, 12 rebounds).

High School Subs at 160

True Orange is going to 160 schools, thanks to several generous subscribers.
Harrison Stafford of Edna, a Longhorn football star from 70 years ago, took
out a new subscription for Wharton.
Robert L. Parker of Tulsa renewed the subscription for Oklahoma powerhouse
Jenks.
Gary Hite of Ball Ground, Ga., renewed San Antonio Alamo Heights. He is a
1953 Alamo Heights graduate.
Jimmy Keys of Houston resubscribed for Freer High School. He is a 1956 Freer
graduate.
Brad Taylor of Abilene added a new subscription for Abilene High School.
Will Coates of Austin renewed the subscription for South Grand Prairie.
An anonymous subscriber took out new subscriptions for Houston Sharpstown and
Houston Westfield and renewed the subscription for Austin Crockett.
I offer a school gift subscription for $35 for 24 issues (omitting the June
and July issues when schools are closed for the summer).
If you want to subscribe for a school, fill out the coupon below and send $35
instead of $45 for each school you want to sponsor.
If you don't have a school in mind, I'll be happy to pick one for you. There
are several schools in all areas of Texas where the libraries need a Longhorn
newsletter.

A True Orange Subscription
Is The Gift You Can Get Every
Year for Your Longhorn Friends
A subscription to True Orange is the perfect gift for any occasion for a
Longhorn who has everything else. It's only $45  ($35 by e-mail) and I'll
send  an attractive card announcing your thoughtful gift.
The only thing better is  a gift of  True Orange and the True Orange Fax  )
and you can give both for just $130 a year ($99 if they can take both by
e-mail).

o  I am enclosing $45 for a gift subscription ($35 e-mail)
o  I am enclosing $130 for a gift subscription to the newsletter and the fax
($99 e-mail)

Name of Recipient

Address (& fax no., if applicable)

City, State, Zip

Your Name

Any Message You Want on Card

Next Issue September 11

The next issue will be e-mailed on September 11 and will report on the Sept.
9 season opener against Louisiana-Lafayette and preview the big game at
defending Pac 10 champ Stanford.
It will also have lots of football recruiting news, coach Mack Brown's
comments on the opener and on the trip to Palo Alto, and reports on other UT
athletic teams.

Tell Your Friends About True Orange

If you like True Orange, be sure and tell your Longhorn friends about it. I
can always use more subscribers. The more subscribers I have, the more
resources I have to call recruits and coaches and do all the other things
that give you an inside view of Longhorn sports.

I want to subscribe. I am enclosing $45 for the next year, which will include
26 issues.  A two-year subscription is $85. For a one-year subscription via
E-Mail, send $35.

Name

Street Address or Box Number or E-Mail Address

City, State and Zip Code
Remit to True Orange, P O Box 26530, Austin, TX 78755
Foreign Rates Available on Request.    Phone  512-795-8536
E-Mail Address: truorange@aol.com

I want to give a gift subscription to  True Orange. I am enclosing $45.
Please send an appropriate gift card. For a gift subscription via E-Mail,
send $35.

Name of Person Receiving Gift

Street Address or Box Number or E-Mail Address

City, State and Zip Code

Your Name


Quentin,

I forwarded your resume to our Sydney office with a request
to invite you for an introductory interview. I would also like  to
arrange a phone interview with you sometimes next week.
My assistant will call you regarding the timing.

Vince


This memo provides a good summary of the bankruptcy legislation that we are
pushing as it relates to the definition of swap agreement and netting.

Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com
----- Forwarded by Carol St Clair/HOU/ECT on 04/16/2001 12:40 PM -----

	Chris Long@ENRON
	04/12/2001 11:57 AM

		 To: Carol St Clair/HOU/ECT@ECT
		 cc:
		 Subject: Memorandum for ISDA U.S.Netting Legislation.DOC

----- Forwarded by Chris Long/Corp/Enron on 04/12/2001 12:56 PM -----

	Ruth Ainslie <RAinslie@isda.org>
	04/12/2001 12:47 PM

		 To: US REGULATORY COMMITTEE <USREGCOMM@isda.org>
		 cc:
		 Subject: Memorandum for ISDA U.S.Netting Legislation.DOC

Fax: +44 (20) 7330 9999
General Email: Helpdesk@allenovery.com
www: http://www.allenovery.com

Here is Dan Cunningham's memo on the above.

 - Memorandum for ISDA U.S.Netting Legislation.DOC


$1 bid for Bjornson
$0 bid for greg clark


We are pleased to announce organizational changes to the Enron South America
legal department in response to the recent reorganization and realignment of
the principal Enron Wholesale Services business units operating in the
region, Enron Americas and Enron Global Assets.

Randy Young, currently General Counsel of ESA, will be assuming new
responsibilities within Enron.  John Novak will become General Counsel of
ESA, reporting to Mark Haedicke.  The ESA legal department will be
responsible for supporting all Enron Americas and Enron Global Assets
businesses in the region.  Additional legal resources, coordinated by Lance
Schuler, will be provided from EWS Legal in Houston to support ESA's
wholesale activities.  John will also work closely with Bruce Lundstrom,
General Counsel of EGA, to coordinate legal support with respect to the EGA
businesses in the region.  An organizational chart describing the new
structure is attached.

This new structure will enable us to continue to provide quality legal
support across business lines within South America while improving
coordination and providing additional support from Houston for Enron's
existing operating businesses, as well as the new business development
initiatives under way in the region.


Attached is Mary Schoen's analysis of Gov. Davis' Executive Order on
expediting siting and maximizing output.

I have asked Mary to try and identify the # of MWs that may be impacted by
these actions.

Jim

----- Forwarded by James D Steffes/NA/Enron on 02/11/2001 02:49 PM -----

	Mary Schoen
	02/09/2001 03:58 PM

		 To: Steven J Kean/NA/Enron@Enron, James D Steffes/NA/Enron@Enron, Richard
Shapiro/NA/Enron@Enron, Leslie Lawner/NA/Enron@Enron, Robert
Frank/NA/Enron@Enron, Sandra McCubbin/NA/Enron@Enron, Jeffrey
Keeler/Corp/Enron@ENRON, Michael Terraso/OTS/Enron@ENRON, Stacey
Bolton/NA/Enron@Enron, Heather Mitchell/HOU/EES@EES, Robert
Frank/NA/Enron@Enron, Harry Kingerski/NA/Enron@Enron, Jeff
Dasovich/NA/Enron@Enron, Susan J Mara/NA/Enron@ENRON
		 cc:
		 Subject: Summary and Very Brief Analysis of Governor Davis's 2/9/01
Executive Orders

Below is a brief summary of the five Executive Orders issued by Governor
Davis on 2/9/01.

For those of you that want the Cliff Notes Version:

These Orders appear to be an attempt to accomplish three things:

1.  Expedite Siting for New Powerplants and Expansions or Modifications of
Existing Powerplants
2.  Maximize Output and Minimize Outages at Existing Facilities
3.  Centralize Authority and/or Mitigate Issues Impacting Powerplant Siting
and Construction

The tone is both one of we feel your pain in the complexity of permitting
powerplants; and that we will tolerate no excuses for not running at full
capacity.  (ie; the carrot and the stick)

They also includes some targeted incentives to encourage powerplant operators
to sell their power under contract to the State Dept. of Water.

Some of the critical issues impacting the effectiveness of these orders will
be:

- How much capacity is truly "idling" and will be able to be brought back on
line or increase its output?
- Will the state be able to better manage air quality issues and create
flexibility within the framework allowed by the Clean Air Act in order to
positively change the air quality issues impacting power plant construction
and operation?
- How quickly can the accelerated permitting procedures be implemented and
how soon will we see movements in the market to increase new generation given
the other issues in CA?

We will continue to analyze the impacts of these orders, but wanted to get
information to you in a timely manner.

D-22-01  Increased Output/Expedited Siting Mandates

CEC exemption from siting requirements for increased output by existing power
generators.
- limited to less than 50MWs using existing installed capacity b/w
06/01-10/01/01

Expedited processing of applications for certification of existing thermal
powerplants that require retooling and a current license to operate.

Accelerated review from all agencies involved in the licensing of proposed
thermal powerplants.

Action by the State Water Resources Control Board  to insure wastewater
issues do not preclude thermal powerplants from operating.

Requirements for the State Dept. of Water Resources to purchase power from
powerplants using renewables and other resources that may currently have not
other market for their power.

Expires  12/31/01 unless extended

Analysis:

This Order is intended to take away the excuses for why some powerplants are
currently not operating or not operating at full capacity.  It does not waive
air quality requirements (they are addressed in a separate order).

D-23-01  Appropriate Maintenance and Efficient Operation Requirements

ISO Requirements:
- Require generators to submit planned outage schedules to the ISO
- Prepare a coordinated outage plan to be updated quarterly
- Identify generation maintenance criteria to be met by generation facilities
- Maintain records of any unplanned generation facility outages and provide
those records to Electricity Oversight Board
- Conduct independent audits of generation facilities that have fallen below
performance benchmarks est. by the ISO
- Consider seeking the authority under state law of federal regulation to
impose fines on those generation facility owners whose generation facilities
have fallen     below performance benchmarks est. by the ISO

Requires that the Electricity Oversight Board review the ISO Tariffs and
Protocols to identify any necessary revisions to increase the ISO's ability
to ensure adequate power during peak demand.

Instructs the CPUC to ensure that generation facilities still owned by
utilities are operated as required to maintain reliability.

Requires the Electricity Oversight Board to propose legislation to expand its
authority to issue audits of generation facilities that do not meet est.
benchmarks for availability and performance, and issue fines against those
plants, after a hearing.

Analysis:

Again, the tone of this order is that the state won't tolerate outages as an
excuse for not generating.  It is also an attempt to better manage planned
outages to prevent situations that happened last fall when too many plants
where off-line for maintenance at the same time.

D-24-01  Air Pollution Flexibility and Mitigation Measures

Mandates that local air districts modify emissions limits that limit hours of
operation in air quality permits to ensure that power generation facilities
that provide power under contract to the Dept. of Water Resources are not
restricted in their ability to operate.
- Requires air districts to require a mitigation fee for all applicable
emissions in excess of the previous limits
- If air districts do not comply, the Board (CARB?) shall impose
modifications on the permits in lieu of districts

The Board shall establish an emissions reduction credit bank using emissions
reductions from all available sources:
- Credits will be made available to powerplant peaking sources that need
emissions offsets in order to add new or expand peaking capacity for the
Summer Peak Season in 2001
- In the case of powerplants that agree to sell their power under contract to
the Dept. of Water Resources, CA will make available where necessary and
available the required emissions credits at up to a 50 percent reduction,
- In order to maximize the amount of electrical generating capacity,
emissions reduction credits for new generation capacity shall be provided to
facilities where necessary and available.
- Proceeds from the sales of these emission reduction credits shall be made
available to fund emissions reduction programs in the air district where the
new or expanded facility is located.

Expires 12/31/2001 unless extended

Analysis:

This order requires the air districts to modify permit limits on run hours
for air quality reasons by allowing those powerplants that sell to the Dept.
of Water to pay a mitigation fee and creates an emission reduction credit
bank available for use by other sources.  There are a lot of details that
remain to be clarified, including how the state is going to locate emissions
reduction credits where developers were unsuccessful.  However, it is a step
in the right direction by creating flexibility and beginning to drive
authority back to the state level.

D-25-01  Acceleration the Construction and Upgrading of Approved Powerplants

Expedites review and approval of post-certification amendments to increase
output from thermal powerplants by the Energy Commission.

Authorizes the Energy Commission to suspends the requirements of the statutes
and regulations that normally control post-certifications to the extent that
they impact prompt mitigation of this emergency.

Requires the Energy Commission to establish milestones for both initiation of
construction within one year of certification, and for the construction phase
of the project.  Failure to meet milestones without prior approval by Energy
Commission based on a showing of good cause shall constitute forfeiture of
the certification.

Expires 12/31/01 unless extended

Analysis

Again, no excuses for not getting your powerplant modifications approved and
completed in a timely manner.

D-26-01  Accelerating the Availability of New Generation Sources

Requires all relevant agencies shorten the review periods to 7 days for
required environmental impact documents prepared under CEQA for all
powerplants that are not subject to the Energy Commission (under 50MWs) and
that are proposed to be on line by summer 2001.

 Energy Commission shall expedite its licensing process in the following ways:
- Expedite processing of applications for peaking or renewable powerplants
for construction and operation by July 31, 2001.
-Peaking or renewable powerplants that have a current contract with the ISO
and can be online by July 2001 may also apply to be permitted by the Energy
Commission under the emergency siting process.
-Rules which provide a license for a simple cycle thermal powerplant within
four months, shall apply to any proposed simple-cycle thermal powerplant that
can be brought on line by August 31, 2002  and that have an application for
certification complete by Dec. 31. 2001.
-Under regulations for the expedited licensing of powerplants, emission
offset credits are not required at the time of filing an application for
certification
-The Energy Commission shall conduct a study of potential peaking power sites
in the state and prepare a report by 02/21/01  identifying those areas of the
state that would benefit from the installation of peaking powerplants to
augment supplies and ensure reliability through the summer of 2003.

IOUs must complete necessary interconnection studies within 7 days of receipt
of completed application.

Expires 12/31/01 unless extended.

Analysis:

This is an attempt to accelerate the permitting of smaller sources and
peaking units.


Your application for online QuickLink
Bill Payment has been approved. Within
1-3 business days you will receive a
confirmation e-mail notifying you that
your QuickLink Bill Payment service has
been activated. When you receive this
information, simply logon to QuickLink
Internet Banking and click on the
QuickLink Bill Payment icon. If you
have any questions or fail to receive
the activation notice, please call
Enron Federal Credit Union.
Thank you for using our online
QuickLink Bill Payment service.


Dear Sara,
Our upcoming exhibition of Kirk Hayes' wonderful paintings
(his first show in Houston) will mark our 25th anniversary,
and it will also be our final exhibition in Houston !

Early this summer, Gary and I will move the gallery and our residence
to southern Arizona.  We've had a wonderful 25+ year run in Houston
and we're sad to be leaving our many friends and supporters,
but new adventures beckon.  We're looking forward to many visitors
once we get settled.  More details to follow regarding our new location, etc....
Our final schedule is as follows-
14 Artists  through February 23
FotoFest: Doherty, Sparagana & Stautberg  March 1-30
Our 25th anniversary Swansong event-
Kirk Hayes: new paintings  April 5-May 4
6!
Let me know if there's anything you can't (or shouldn't) live without.
Best, Kathleen
james gallery
307 sul ross | houston | tx 77006
713.942.7035 tel | 713.942.7038 fax
contactus@jamesgalleryhouston.com
wed-sat 10-5:30
N
http://www.jamesgalleryhouston.com


I changed the end date to 12/31/2000 on Trco k#2.2390, deals 77157 and
320086.  I had it set up as evergreen.


i didn't say you couldnt come down.   just not to expect much

From: Margaret Allen@ENRON on 10/25/2000 04:11 PM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: Re:

Okay, you get reprieve on this today.  But I do have curly hair and high
boots on.

Have a GREAT (said like Tony Tiger) date, and don't attack her like you did
the last one. MSA


Reservation status has changed to RECEIVED. See attachment.

ASSIGNMENT_REF = 30716
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 = FOURCORNERS3
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 = 06/06/2002
STOP_TIME = 06/06/2002
CEILING_PRICE = 3.13
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 = 06/05/2002
RESPONSE_TIME_LIMIT =
TIME_OF_LAST_UPDATE = 06/05/2002
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 =


See notations in red below.  George x3-6992

---------------------- Forwarded by George Weissman/HOU/ECT on 02/06/2001
10:01 AM ---------------------------
From: Joan Quick on 02/05/2001 07:20 PM
To: George Weissman/HOU/ECT@ECT, Melissa Graves/HOU/ECT@ECT
cc:
Subject: St. Mary's FEB First of the Month Nom, Myette Point Northwest Field
 St. Mary Parish, LA

for feb,

VPP gas: sitara tic #541136 shows 11,136/d, when it should really be 11,480/d.

The other 344/d is on sitara tic #555941; the two tickets together total
11,480/d.  You'll remember that the Bank of America tics were established by
John Griffith's team.

and re the excess gas tics [below], they do not match my first of the month
[FOM] info below.  Did the FOM change?

The nom was in fact changed by Hunt at 2:00 pm on 1/31/2001.  Hunt had
inadvertantly provided you with North Central's nomination for the low volume
meter, 9502, instead of Preston's nomination.  Thus, the 2,997/d on the North
Central page (note the 25% WI on your original documentation - I missed this
clue also) provided to us on 1/25/2001 became 2,012/d on the Preston page
provided to us on 1/31/2001.

The GDA tic s/b 10% of the total excess amount, and this is less than that.
Am I missing something?

The Gas Daily ticket won't necessarily be 10% of the total.  Here's what we
do.  We book the VPP volume on one set of firm tickets (actually 2 sets,
since the VPP has been broken into a Brazos traunch and a Bank of America
traunch) - see 541136, 555941, 553654 & 555681 (the last two tickets are the
internal desk to desk deals).  Then, based on Robert Cook's team's reserve
review, we book as much excess gas on a second set of firm tickets as the
reserve report indicates (the Firm Excess volume) - in this case, for the
month of February, that number is 4,618/d - see 540814 & 594648.  Finally, we
"book" any residue remaining after the VPP volume and the Firm Excess volume
on a set of spot, Gas Daily tickets - see 554222 & 555729.  Originally, when
we mistakenly thought the nomination at meter 9502 was 2,997/d, the
corresponding spot, Gas Daily volume was 17,216/d minus 11,480/d minus
4,618/d or 1,118/d.  When the renomination of meter 9502 (a downward
adjustment of 985/d) took place, the 1,118/d became 133/d.  Thus, the total
booked, 16,231/d matches the 16,231/d nominated.

Excess gas priced at IF: sitara tic #540814
Excess gas priced at GDA: sitara tic #554222

For your information, we deliver herewith a copy of the spreadsheet we will
use to track this deal for February.

thanks George x3-6992

thanks
joan

---------------------- Forwarded by Joan Quick/HOU/ECT on 02/05/2001 07:00 PM
---------------------------
From: Joan Quick on 01/25/2001 09:47 PM
To: George Weissman/HOU/ECT@ECT
cc: Gary Bryan/HOU/ECT@ECT, Phillip Ballard/NA/Enron@Enron
Subject: Preston's FEB First of the Month Nom

George,

This is a follow up to the hard copies of the first of the month information
that I put on your chair earlier today.  Below is a summary/break out of the
volumes and pricing.

The VPP nom should be in the name of Brazos, and the excess in Preston's
name.  Do you know has Hunt been informed that the VPP nom will be in Brazos'
name?

It does not matter to me how you break out the VPP vols between the 2
delivery points - whatever is easiest for you.

This spreadsheet is the same as what is above....


MUCH INTEREST FROM ME

-----Original Message-----
From: Heizenrader, Tim
Sent: Thursday, November 15, 2001 11:13 AM
To: Swain, Steve; Gilbert, Scotty; Steiner, David; Williams III, Bill; Semperger, Cara; Amador, Susan; Thomas, Jake; Mainzer, Elliot; Alonso, Tom; Badeer, Robert; Belden, Tim; Crandall, Sean; Driscoll, Michael M.; Fischer, Mark; Mallory, Chris; Motley, Matt; Platter, Phillip; Richter, Jeff; Salisbury, Holden; Scholtes, Diana; Swerzbin, Mike
Subject: FW: Visual Basic Class

Anybody have candidates for this?

Tim

-----Original Message-----
From: SCHILMOELLER, Michael
Sent: Thursday, November 15, 2001 10:39 AM
To: Boo Seng-Aroun; Dieterle, Chris; NIMAN, MIKE; Oshea, Mike; Ichikawa, Shinya
Cc: Heizenrader, Tim
Subject: Visual Basic Class

A Developmentor manager has an introductory VB class locally that he is trying to fill.  I took a COM+/2000 class from them in December, and they are first class.  How many of us would be interested (no commitment at this point)?

I believe this is Developmentor's 12/3 one-week course (see  <http://www.develop.com/dm/course.asp?id=10>)  It ordinarily goes for $1800 per person.

Mike N, can you give me some guidance regarding how much cost per person or how much cost total you would be prepared to pay.  Again, he is trying to fill up a class that is about to be cancelled, and I think he would be willing to negotiate.

Tim, would you or anyone on your floor have any interest in this?

Michael


See attached 1-page summary of PNW refund case.

-----Original Message-----
From: Dernehl, Ginger On Behalf Of Shapiro, Richard
Sent: Wednesday, August 29, 2001 8:32 AM
To: Walton, Steve; Comnes, Alan; Frank, Robert; Mara, Susan
Cc: Kean, Steven J.
Subject: FW: Materials for Western Governors
Importance: High

Governor Jim Geringer of Wyoming is in the process of organizing a meeting between himself, 3-4 other western governors, and FERC Commissioner Pat Wood to discuss wholesale electricity issues facing the Western Power Market.  This meeting is expected to take place in the next couple of weeks.

In preparation of the meeting, Governor Geringer has requested information on the following issues which I would like each of you to provide me by next Tuesday, September 4th.

General Summary of the Western Power Market as it exists today - Steve Walton
A summary of Enron's position on the FERC RTO Model and the necessary components of a well-designed RTO - Steve Walton
A summary of FERC's Price Cap Order and the implications it has had on the West - Alan Comnes
An update of the Refund proceedings and next steps - Bob Frank
Summary of FERC's failure to go after California for failure to comply with FERC - Sue Mara
Update of CALISO issues - Sue Mara

Thank you


-----Original Message-----
From: Grieco, Guy
Sent: Friday, May 17, 2002 6:22 PM
To: Mike Nolan (E-mail)
Subject: FW: $20 Bill Remembrance of 9/11

-----Original Message-----
From: Nurena, Elsye M. [<mailto:elsye.m.nurena@bofasecurities.com>]
Sent: Thursday, May 16, 2002 1:47 PM
To: 'guy.grieco@admis.com'
Subject: FW: $20 Bill Remembrance of 9/11

This freaked me out!

-----Original Message-----
From: Ho, Derek Y.
Sent: Thursday, May 16, 2002 1:40 PM
To: Nurena, Elsye M. (BAS)
Subject: $20 Bill Remembrance of 9/11

_____________________________________________________________________
IMPORTANT NOTICES:
          This message is intended only for the addressee. Please notify the
sender by e-mail if you are not the intended recipient. If you are not the
intended recipient, you may not copy, disclose, or distribute this message
or its contents to any other person and any such actions may be unlawful.

         Banc of America Securities LLC("BAS") does not accept time
sensitive, action-oriented messages or transaction orders, including orders
to purchase or sell securities, via e-mail.

         BAS reserves the right to monitor and review the content of all
messages sent to or from this e-mail address. Messages sent to or from this
e-mail address may be stored on the BAS e-mail system.

 <<20BillRe.doc>>


As evidenced by an exceptionally strong performance in the second quarter,
Enron,s wholesale energy businesses in North America and Europe continue to
experience tremendous growth.  The opportunities to continue to grow our
natural gas and power businesses have never been better and it is critical to
Enron,s future success that we remain focused on expanding these businesses
and maintaining the strong momentum we have in these markets.

It is equally important that we continue to develop new businesses outside of
gas and electricity, which can make significant contributions to our earnings
growth.  We have made significant progress in developing these businesses in
North America, Europe, and most recently in our new Net Works business unit.
Included in these global businesses are our efforts in crude and products,
coal, emissions, insurance, currency, equity trading, interest rates, credit
trading, paper and pulp, and metals.

While significant progress has been made in these efforts we need to
accelerate the growth of these new businesses while continuing to
aggressively expand our core gas and electricity businesses in North America
and Europe.  In order to accomplish these two objectives and to capitalize on
the increasingly global opportunities in these new businesses we are today
announcing the formation of a new business unit ) Enron Global Markets.  This
new business unit will focus on markets and commodities which are global in
scope, but outside our traditional gas and power markets.  This new core
business unit will operate in parallel with and in close coordination with
the North American and European businesses.

Enron Global Markets will be headed by Mike McConnell, President and Chief
Executive Officer, and Jeff Shankman, Chief Operating Officer.  They will
report to Mark Frevert who will be Chairman of Enron Global Markets.  Mark,
Mike and Jeff will comprise the Office of the Chairman for Enron Global
Markets.

Included in this new business unit and reporting to the Office of the
Chairman will be the following businesses and their leaders:
- Global Crude and Products:     John Nowlan
- Coal:         George McClellan
- Currency, equities, interest rate and agricultural trading:  Gary Hickerson
- Insurance and weather:      Jere Overdyke

Enron,s metals business and Enron Credit.com will remain the responsibility
of Enron Europe. The Paper and Pulp business will continue to reside in North
America.

With the departure of Mike McConnell from Enron Net Works, we are pleased to
announce the following appointments in that business unit:
- Jeff McMahon: President and Chief Operating Officer
- Louise Kitchen: Chief Commercial Officer
- Philippe Bibi:  Chief Technology Officer

Jeff, Louise and Philippe, along with Greg Whalley,  will comprise the Office
of the Chairman for Enron Net Works.

With Jeff Shankman,s departure from Enron North America,s natural gas
operation, all of Jeff,s direct reports will report to John Lavorato.

We are also pleased to announce the following changes to the Enron North
America Office of the Chairman.  John Lavorato will join the ENA Office of
the Chairman as Chief Operating Officer.  Dave Delainey will assume the role
of President and Chief Executive Officer.  Mark Frevert will retain his role
as Chairman of Enron North America in addition to his role as Chairman of
both Enron Global Markets and Enron Europe.

Please join us in congratulating everyone in their new assignments and in
supporting the new Enron Global Markets organisation.


Hi  Sara,

I have just recieved the attached fax and phone call from Matt Flett at
Morgan Stanley in London. I believe that he has taken over the above
transaction from Megan Duffill. He has contacted me in the abcence of Edmund
Cooper who is currently on sick leave and asked for a response on the points
raised in the fax.
Is this one of yours or have we now become involved in some way? When you
have a moment please could you let me know  either way.

Many Thanks

Matt Dawson
---------------------- Forwarded by Matthew Dawson/LON/ECT on 01/09/2000
12:03 ---------------------------

London Fax System
01/09/2000 11:01
To: Matthew Dawson/LON/ECT@ECT
cc:

Subject: New fax received (Likely sender: 02076775725).

You have received a new fax from 02076775725

The image contains 5 page(s).


Ava, please put this on my calendar.  Thanks. Lynn

 -----Original Message-----
From: 	January, Steven
Sent:	Monday, September 17, 2001 9:57 AM
To:	Corman, Shelley; Blair, Lynn; Dietz, Rick; Holmes, Bradley; Scott, Donna; Bryant, Mike; Brown, Sharon; Schoolcraft, Darrell; Spraggins, Gary; Ratliff, Dale; Winters, Ricki
Subject:	VACATION

I plan on taking vacation October 4, 5, 8,9 10, 11, and 12. This will finish my vacation for the year. thanks. sj


Sara,

Please find attached the amended Las Vegas Cogen swap.. I have faxed both the
new and old deal tickets to you.  Please have a look.  ( I think my
"Additional Provisions" section needs some definite work--The 45K orgination
will not be cash settled, but will be handled via reporting entry.  )


Kim,

I wanted to update you on the status of the filing of the TW/NNG Gray storage point.  Anticipated approval is expected October 31st.  We do not anticipate any delays in the approval because this filing is identical to the last 4 filings we have done.  If you have questions please give me a call.

Thanks,

Preston


Market East needs to recognize $24,200 of Middle Market -East Originations
granted by the Pipe Options book.

Thanks,
Robin


Can you handle? Thanks.

--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)

-----Original Message-----
From: Davis Ann E <Ann.Davis@swpc.siemens.com>
To: Mann, Kay <Kay.Mann@ENRON.com>
CC: Monahan Bill <Bill.Monahan@swpc.siemens.com>; DeKrey Lynn <Lynn.DeKrey@swpc.siemens.com>; Miranda Mingyan Y <Mingyan.Miranda@swpc.siemens.com>; Saugstad Kathryn <Kathryn.Saugstad@swpc.siemens.com>
Sent: Fri Oct 26 13:33:41 2001
Subject: RE: Settlement agreement

Kay,

I have reviewed the proposed change with our management, and we may be able
to close this out.  For clarification purposes, please review the attached
document, in which I have incorporated your changes as proposed on 10/9/01.
The changes were made to the version you sent back to Siemens Westinghouse
on 10/01/01.  If we both agree that this version is accurate, please advise
and we will begin the execution process on our end.

I look forward to hearing from you.

Ann

-----Original Message-----
From: Mann, Kay [mailto:Kay.Mann@enron.com]
Sent: Tuesday, October 09, 2001 11:19 AM
To: Davis Ann E
Subject: RE: Settlement agreement

Hi Ann,

Thank you for your response. I wanted to propose some different language
for your consideration:

WHEREAS, the Gleason Project sustained damage to its exhaust stacks and
alleged that Siemens Westinghouse was responsible for such damage
because (i) of its failure to, among other things, provide drawings with
adequate directions for the welding of those stacks and (ii) excessive
vibrations at the Gleason Plant were a contributing factor to such
damage.  As a result, Enron presented a breach of warranty claim to
Siemens Westinghouse, in May of 2001, under the Contract in the amount
of Four Hundred Nine Thousand, Six Hundred Sixty-Six Dollars
($409,666.00) for repair work performed on two of the stacks ("Warranty
Issue").

I hope this gets us there.

Thanks,

Kay

-----Original Message-----
From: Davis Ann E [mailto:Ann.Davis@swpc.siemens.com]
Sent: Thursday, October 04, 2001 8:05 AM
To: Mann, Kay
Subject: RE: Settlement agreement

Kay:

We are in receipt of Enron's proposed changes to the Settlement
Agreement
and Release on the Gleason Project.  Unfortunately, it appears that the
intent of the Settlement Agreement has strayed away from initial
discussions
between our respective business representatives.   In past discussions
with
Enron regarding its claim for costs associated with reconstruction of
the
Gleason CT exhaust stacks, Enron tied its local low frequency noise
concerns
to the stack reconstruction issue.  Although the causes for
reconstruction
of the stacks were beyond SWPC responsibilities, SWPC agreed that in the
interest of continued customer relations, we would be willing to make a
business policy concession to Enron on the reconstruction costs in
exchange
for indemnification on future stack and noise issues.

The latest revisions to the Settlement Agreement deletes any references
to
the noise issues in the warranty definition, thereby eliminating any
coverage for indemnification for future claims which may arise on that
issue
from the Settlement Agreement.  This elimination substantially erodes
the
value of Enron's indemnification, and the settlement overall.  As
modified,
the deal is no longer palatable to SWPC, and it is in our best interest
not
to enter into the Agreement as proposed by Enron.  Should Enron be
willing
to re-insert the language struck from the third WHEREAS paragraph, SWPC
would be willing to sign on to the deal.

Please contact me directly if you wish to discuss this further.  SWPC
would
like to resolve all outstanding issues with Enron, but we will not make
payment on a claim for an issue which we believe we bear no
responsibility
unless such payment is part of a more global settlement.

Regards,

Ann Davis
Counsel
Siemens Westinghouse Power Corporation
4400 Alafaya Trail, MC Q2-480
Orlando, FL  32826
direct: (407) 736-2017
fax: (407) 736-5034

-----Original Message-----
From: Mann, Kay [mailto:Kay.Mann@enron.com]
Sent: Monday, October 01, 2001 5:57 PM
To: ann.davis@swpc.siemens.com
Subject: Settlement agreement

Hi Ann,

I'm attaching a redline with just a couple of changes to the draft you
sent.  Hopefully, we can wrap this up.

Thanks,

Kay

 <<EnrGleasonStackSettle 10-1redline against 10-1.doc>>

ps, here's the clean copy:

 <<EnrGleasonStackSettle 10-1.doc>>

**********************************************************************
This e-mail is the property of Enron Corp. and/or its relevant affiliate
and
may contain confidential and privileged material for the sole use of the
intended recipient (s). Any review, use, distribution or disclosure by
others is strictly prohibited. If you are not the intended recipient (or
authorized to receive for the recipient), please contact the sender or
reply
to Enron Corp. at enron.messaging.administration@enron.com and delete
all
copies of the message. This e-mail (and any attachments hereto) are not
intended to be an offer (or an acceptance) and do not create or evidence
a
binding and enforceable contract between Enron Corp. (or any of its
affiliates) and the intended recipient or any other party, and may not
be
relied on by anyone as the basis of a contract by estoppel or otherwise.
Thank you.
**********************************************************************


Start Date: 1/4/02; HourAhead hour: 21;  No ancillary schedules awarded.  Variances detected.
Variances detected in Load schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002010421.txt

---- Load Schedule ----
$$$ Variance found in table tblLoads.
     Details: (Hour: 21 / Preferred: 144.52 / Final: 144.49)
  TRANS_TYPE: FINAL
  LOAD_ID: SDG1
  MKT_TYPE: 2
  TRANS_DATE: 1/4/02
  SC_ID: ENRJ


Not sure if I have already forwarded this to you guys, please disregard if you have already received.  - Mike

-----Original Message-----
From: Rita.Brady@reliant.com
Sent: Fri 11/2/2001 11:04 AM
To: cwiley@aep.com; kyeager@aesc.com; pwilkins@aesdw.com; james.nixon@alcoa.com; shelmick@anpower.com; knoblet@utilicorp.com; pat.sweeney@austinenergy.com; freddy.sanches@steagpower.com; bhelpert@brazoselectric.com; amlingsj@bp.com; rsmith@brownsville-pub.com; hancock@btutilities.com; davidi@calpine.com; david.livingston@cinergy.com; mkotara@cps-satx.com; gary.gibson@lgeenergy.com; ERoberts@coral-energy.com; smromoser@cmsenergy.com; rtolentino@duke-energy.com; kcow@dynegy.com; mcunning@pwrteam.com; brad.ashton@elpaso.com; mcurry@enron.com; sjernig@entergy.com; fpoche@entergy.com; Keith_emery@fpl.com; paulb@ci.garland.tx.us; dkuehn@lcra.org; pat.mann@mirant.com; fritz.schulz@msdw.com; jim.steinhilper@nrgenergy.com; mike.wise@xcelenergy.com; sarah.barpoulis@neg.pge.com; mike@stec.org; rlskaggs@tecoenergy.com; ksmith@tnsk.com; mwanamaker@tielp.com; debrasmith@tractebelusa.com; bob.almond@txu.com; bary.warren@williams.com
Cc:
Subject: Reliant Energy Services Reverse Auction

Reliant Energy Services ("RES") is holding a Reverse Auction on December
20, 2001 for the purchase of energy and capacity products for delivery in
the month of January 2002 to the Houston 2002 ERCOT Congestion Zone.
Please access the RES Reverse Auction web link at <https://www.captrades.com>
and click on the Reliant Energy button for details of the products and
auction mechanics.

Should you have any questions, please do not hesitate to contact me.

Rita Brady
Regional Marketing Director - Origination
Texas Region
Reliant Energy Wholesale Group
phone: 713-207-4748
email:  rita.brady@reliant.com


----- Forwarded by Jeff Dasovich/NA/Enron on 03/14/2001 11:10 AM -----

	Joe Ronan <JoeR@calpine.com>
	03/14/2001 11:02 AM

		 To: "'Jean Munoz'" <jmunoz@mcnallytemple.com>, Katie Kaplan
<kaplan@iepa.com>, "'Andy Brown (E-mail)'" <ABB@eslawfirm.com>, "'B Brown
Andy (E-mail)'" <andybrwn@earthlink.net>, "'Baker Carolyn (E-mail)'"
<cabaker@duke-energy.com>, "'Bob Escalante (E-mail)'"
<rescalante@riobravo-gm.com>, "'Bob Weisenmiller (E-mail)'"
<rbw@mrwassoc.com>, "'Curtis Kebler (E-mail)'"
<curtis_l_kebler@reliantenergy.com>, "'Douglas Kerner (E-mail)'"
<DKK@eslawfirm.com>, "'Greg Blue (E-mail)'" <gtbl@dynegy.com>, "'Jan
Smutny-Jones (E-mail)'" <smutny@iepa.com>, "'Jeff Dasovich (E-mail)'"
<Jeff.Dasovich@enron.com>, Joe Ronan <JoeR@calpine.com>, "'John Larrea
(E-mail)'" <john.g.larrea@williams.com>, "'John Stout (E-mail)'"
<John_H_Stout@reliantenergy.com>, "'Julee Malinowski-Ball (E-mail)'"
<jmball@ns.net>, Kassandra Gough <kgough@calpine.com>, "'kent Palmerton
(E-mail)'" <kent.palmerton@williams.com>, "'Kristin Vellandi (E-mail)'"
<kvellandi@pstrategies.com>, "'Lynn Lednicky (E-mail)'" <lale@dynegy.com>,
"'Marty Wilson (E-mail)'" <mwilson@pstrategies.com>, "'McNally Ray (E-mail)'"
<rmcnally@mcnallytemple.com>, "''Nam Nguyen' (E-mail)'"
<nam.nguyen@powersrc.com>, "'Norton Kelli (E-mail)'"
<knorton@mcnallytemple.com>, "'Paula Hall-Collins (E-mail)'"
<paula.hall-collins@williams.com>, Jack Pigott <jackp@calpine.com>, "'Richard
Hyde (E-mail)'" <rwhyde@duke-energy.com>, "'Rob Lamkin (E-mail)'"
<rllamkin@seiworldwide.com>, "'Roger Pelote (E-mail)'"
<roger.pelote@williams.com>, "'Stephanie-Newell (E-mail)'"
<stephanie-newell@reliantenergy.com>, "'Sue Mara (E-mail)'"
<smara@enron.com>, "'Theo Pahos (E-mail)'" <tpahos@ppallc.com>, "'Tom Ross
(E-mail)'" <tross@mcnallytemple.com>, "Carol H Hudson (E-mail)"
<Chudson@iepa.com>, steven kelly <steven@iepa.com>, "'Anne Kelly (E-mail)'"
<kelly@hnks.com>, "'Chuck Cole (E-mail)'" <ccole@advocation-inc.com>,
"'Delany Hunter (E-mail)'" <dhunter@smithandkempton.com>, "'DJ Smith
(E-mail)'" <djsmith@smithandkempton.com>, "'Hedy Govenar (E-mail)'"
<hgovenar@acom2.com>, mmoretti@mccabeandcompany.net, "'Maureen OHaren
(E-mail)'" <Oharen@hmot.com>, "'Mike Monagan (E-mail)'" <mrmonagan@aol.com>,
"'Phil Isenberg (E-mail)'" <isenberg@hmot.com>, "'Robert Ross (E-mail)'"
<robbiz@cwo.com>, "'Ron Tom (E-mail)'" <Rtom@govadv.com>, "'Scott Govenar
(E-mail)'" <sgovenar@govadv.com>, "'Susan Mccabe (E-mail)'"
<sfmccabe@mindspring.com>, rtemple@mcnallytemple.com,
megan.beiser@edelman.com, tracy.fairchild@edelman.com,
deborah.fiorito@dynegy.com, tcwillia@duke-energy.com
		 cc:
		 Subject: Wyden Bankruptcy Amendment--URGENT

The Wyden Amendment to the Bankruptcy Bill is being debated on the Senate
floor as we speak. If it passes,the QF's in California will be severly
imnpaired ina bankruptcy proceeding. I hope that you have contacted your
Congressional representatives. Feinstein is fighting this and Boxer has
suppoted, then opposed it, and may be supporting it again. EPSA and EEI
opposed the Amendment. Jan--has IEP weighed in yet?
-----Original Message-----