----- Forwarded by Mark Taylor/HOU/ECT on 08/29/2000 11:24 AM -----

	AShaw@milbank.com
	08/28/2000 10:43 PM

		 To: amanda.angelini@ssmb.com, rick.caplan@ssmb.com, steve.incontro@ssmb.com,
Stephen.Thatcher@citicorp.com, thomas_musarra@ustrust.com,
dfdevine@jonesday.com, doug.mcdowell@enron.com, gareth.bahlmann@enron.com,
Fcochran@velaw.com, acurry@velaw.com, mary.cook@enron.com,
craig.clark@enron.com, ryan.siurek@enron.com, clint.walden@enron.com,
kevin.d.jordan@enron.com, mark.taylor@enron.com,
brent.vasconcellos@enron.com, annmarie.tiller@enron.com
		 cc: EMoser@milbank.com, RRichards@milbank.com
		 Subject: Message from Ray Richards re: Delta

Attached below please find the following revised documents (each marked to
show the changes that were agreed to at Closing):

1.? Enron-Citibank Swap Confirmation;
2.? Enron-Citibank Credit Support Annex;
3.? Enron-Delta Swap Confirmation; and
4.? Enron-Delta Credit Support Annex.

Best regards,
Ray Richards

 <<Enron-Citi Swap Confirmation.doc>>  <<Enron-Citi CSA.doc>>  <<Enron-Delta
Swap Confirmation.doc>>  <<Enron-Delta CSA.doc>>

This e-mail message may contain legally privileged and/or confidential
information. If you are not the intended recipient(s), or the employee
or agent responsible for delivery of this message to the intended
recipient(s), you are hereby notified that any dissemination,
distribution or copying of this e-mail message is strictly prohibited.
If you have received this message in error, please immediately notify
the sender and delete this e-mail message from your computer.

 - Enron-Citi Swap Confirmation.doc
 - Enron-Citi CSA.doc
 - Enron-Delta Swap Confirmation.doc
 - Enron-Delta CSA.doc


see attached.  we will be still be installing a new radiator.


Marisa,

It probably would have been helpful to you if I had sent you copies of the
Corporate formation documents and consents that have already been executed in
connection with Merchant Energy Ventures, LLC.  I am attaching copies for
your reference.

 Consent appointing Ben Jacoby as POA was dated May 4, 2001. We will need to
revoke this POA when we sell to Northwestern.

Action by sole Member removing James V. Derrick, Jr. as a Manager was dated
April 26, 2001

The LLC Agreement was dated March 22, 2001.

Please let me know if you have any questions.

Kathleen
 -----Original Message-----
From:  "Reuter, Marisa" <MReuter@KSLAW.com>@ENRON
[mailto:IMCEANOTES-+22Reuter+2C+20Marisa+22+20+3CMReuter+40KSLAW+2Ecom+3E+40EN
RON@ENRON.com]
Sent: Thursday, May 31, 2001 11:11 AM
To: 'margueritekahn@paulhastings.com'
Cc: Keffer, John; Mann, Kay; Carnahan, Kathleen
Subject: ENA/NorthWestern: Certificate of Amendment & Closing Checklist

Marguerite:

Because NorthWestern would like to change the name of Merchant Energy
Ventures, LLC to Montana Megawatts I, LLC at Closing, I have prepared a
Certificate of Amendment to this effect.  A copy of the Certificate of
Amendment is attached.  Also attached is a Closing Checklist that attempts
to capture the status of the transaction.  Please let me know if you have
any comments to either the Certificate or the Checklist.  Thanks.

Regards,

Marisa

 <<331H01!.DOC>>  <<2XPB06!.DOC>>

                    Confidentiality Notice
This message is being sent by or on behalf of a lawyer.  It is intended
exclusively for the individual or entity to which it is addressed.  This
communication may contain information that is proprietary, privileged or
confidential or otherwise legally exempt from disclosure.  If you are not the
named addressee, you are not authorized to read, print, retain, copy or
disseminate this message or any part of it.  If you have received this
message in error, please notify the sender immediately by e-mail and delete
all copies of the message.

 - 331H01!.DOC << File: 331H01!.DOC >>
 - 2XPB06!.DOC << File: 2XPB06!.DOC >>


---------------------- Forwarded by Stinson Gibner/HOU/ECT on 01/03/2001
08:54 AM ---------------------------

Stinson Gibner
12/27/2000 05:04 PM
To: Nick Bambos <bambos@stanford.edu> @ ENRON
cc:
Subject: Re: Stanford Project

Nick,

Hope you had a nice Christmas.  Best wishes for the New Year.

It would certainly be great to see you and to meet Eric some time in the next
few months.     Everyone here
was very impressed with Giuseppe and we are eager to have another of your
students come to Enron.

Enron Broadband is continuing to evolve and the current vision is to rely on
Enron's trading expertise while trying to
minimize our role as an engineering company and innovator of technology.   I
spoke recently with Jim Fallon, the current
head trader in EBS, and we put together a short list of topics of interest
where you might be able to help educate us.
I put these in the order of interest (to Mr. Fallon).

1.   Where will bandwidth prices go?   The direction of prices, obviously is
the concern of any trader.   We realize that
technological innovation will continue to drive down prices, but are still
interested in trying to quantify how fast prices will fall,
if there are likely to be certain bottlenecks in the fiber network where you
could see prices stable or rising for some length of time,
if there are applications on the horizon which would use such prodigious
amounts of bandwidth as to have some effect on pricing,
and if there is a rational way of trying to quantify the timing and effect on
prices of new technologies.
 The term "bandwidth" might primarily mean lit fiberoptic capacity, but could
also incompass dark fiber, or IP transit and transport
pricing.

2.  During the last year, Enron purchased a company known as "Warpspeed" in
order to acquire their MetaRouter technology.   To quote from the Enron press
release:

"MetaRouter sends signals throughout distributed networks to determine the
optimal connectivity paths for any size bandwidth capacity from anywhere in
the world. Capable of processing thousands of connections per second,
MetaRouter significantly enhances Enron,s ability to automate circuit
provisioning."

There may be two separate questions to ask here.   First,  in the context of
the current market (or the market which may develop in the next 1-2 years),
will the MetaRouter be a commercially viable product?   That is,  will it
address an actual need in the market, or would it be more cost effective just
to use technicians with jumper cables to provision circuits?

The second question (our first real technical question):  is the MetaRouter
technology scalable?     Before starting on this project, Vince and I will
need to make the proper introductions with the principles who are
implementing this technology.

3.  Aggregation of loads.   A recurring question comes from a number of areas
such as IP, network storage, and   streaming media transport sales:  What
value can I get form aggregating customers, each of which has some type of
stochastic load profile?   Giuseppe touched on this problem as it relates to
IP transport, but it may be interesting to try and look in more detail.
The main stumbling block may be that we currently have basically no actual
customer data.   I am told that in a few months we will have some more useful
history.   My understanding is that what will be available will be 5-minute
averages of usage, so we still will not know on a short time scale what the
distribution of load looks like.

I hope that this gives you enough information to get some idea of what our
concerns are at this point.   Please let me know your thoughts about these
topics.   I would expect, for instance that question number 1 may not be
reasonable as a research project, but might be a question which you would
feel comfortable in addressing by giving us  your qualitative opinions, maybe
in the form of a talk here at Enron.

Again,  let me know your thoughts, and I look forward to seeing you again
soon.

Stinson

Nick Bambos <bambos@stanford.edu> on 12/20/2000 12:14:40 PM
To: Vince.J.Kaminski@enron.com
cc: Stinson.Gibner@enron.com
Subject: Stanford Project

Hello Vince and Stinson,

First of all,

BEST WISHES FOR HAPPY HOLIDAYS!!!!

If you are in the Stanford area during the holidays, let's get together
some time to have dinner.

I have formally established the project - thanks again for funding
it - and I have also recruited the second PhD student. His name is
Eric Cope, and he is a top-notch student, very mature, and entrepreneurial!

We have started working on some interesting problems in this area. I would
hope that Eric could spend the coming summer at Enron to get immersed into
the "problem/opportunity generation environment." That really helps the
student
to develop a realistic vision about their research.

Perhaps, our whole team could visit Enron again some time in the next quarter,
say in March or so, to discuss the research issues we are pursuing. And of
course
you could visit us before that too.

With my WARMEST WISHES,

Nick


I spoke with Eugenie Sibeud at Goldman Sachs who is a local market expert.
She spoke with someone from Hong Kong.

Per Eugenie, We probably do not need an FII (which takes the 9 months to
obtain) but we will probably need a FDI (Foreign Direct Investment) Form to
sell the shares.  This form needs to be approved by RBI (Royal Bank of India)
taking approximately 3 weeks and is good for a specified period of time (e.g.
3 months).

She said that we may be able to complete the sale by opening a cash account
with Standard Charter Bank (GSs agent) or a special purpose account which
would stay open only for a month.
Eugenie is going to get back to me and forward to me the specifics which I
have tried to summarize above.
Thanks. Sheila.


Answer to the query about GAIL investment in India is below.   mcs
---------------------- Forwarded by Mark Schroeder/LON/ECT on 02/06/2000
11:10 ---------------------------

Jane Wilson@ENRON_DEVELOPMENT
02/06/2000 21:22
To: Mark Schroeder@ECT
cc:

Subject: More Information

We own 5% of GAIL by way of "global deposit receipts."   We are not allowed
to sell these GDRs in India but may sell them anywhere else.  They are listed
on the London Exchange.  One thing to think about is that GAIL will be
privatized in the long term.  As the largest private investor, we will be
able to convrt to voting stock.  However, to do so we must obtain the consent
of the FIPB (left out a letter earlier) -- the Foreign Investment Promotion
Board.  Apparently, this is not a good time to even think about it because
there is a huge debate in Delhi about the role of foreign oil companies in
their sector, i.e., the wisdom of allowing foreign ownership of the oil
sector.

On a separate topic, I need to do due diligence on the "Power Trading
Corporation".  This is part of the Powergrid state organization which is
currently comprised of three sections: the central transmission agency, the
central independent system operator and the Power Trading Corporation.  I've
been reading news clippings that sound so peculiar that this organization, I
suspect, can harm our marketing designs in India.  FYI, there is discussion
about our investing in this organization and perhaps trading through it as a
way to manage credit risk.  I'll let you know more as I learn it.


To ensure p&l doesn't get lost during the shuffle, we will not hand out the folders until first thing Monday morning.  I'm attaching p&l, though, in case you're anxious!

Hope everyone has a good weekend!

Casey


CALENDAR ENTRY:	APPOINTMENT

Description:
	EB3267 - RESERVED

Date:		3/1/2001
Time:		9:00 AM - 10:00 AM (Central Standard Time)

Chairperson:	Stacey W White

Detailed Description:


This is a reminder that all vendors we have on retainer are to be sent a Notice of Termination by November 30, 2001 for a December 31, 2001 final termination date.  Please forward me a copy of all termination letters for the vendor agreement files.

Also, the renewal of any company and personal memberships should not be renewed unless discussed with Rick.

Thanks and please don't hesitate to call if you have any questions.

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

 -----Original Message-----
From: 	Dernehl, Ginger   On Behalf Of Shapiro, Richard
Sent:	Wednesday, November 21, 2001 8:58 AM
To:	Alamo, Joseph; Allegretti, Daniel; Allen, Joe; Alvarez, Ray; Ausenhus, Kara; Barnes, Lynnette; Bellas, Kirsten; Bestard, Jose; Binns, Darran; Bolton, Scott; Boston, Roy; Buerger, Rubena; Burns, Stephen; Canovas, Guillermo; Cantrell, Rebecca W.; Comnes, Alan; Connor, Joe; Cooney, Carolyn; Dasovich, Jeff; Decker, Larry; Dernehl, Ginger; Dressler, Jean; Floris, Vinio; Frank, Robert; Fromer, Howard; Fulton, Donna; Gottfredson, Bryan; Guerrero, Janel; Hamilton, Allison; Hardy Jr, John; Hartfield, Rita; Hawkins, Bernadette; Hemstock, Robert; Hetrick, Nancy; Hoatson, Tom; Hueter, Barbara A.; Hunter, Bevin; Huson, Maggy; Ibrahim, Amr; Kaufman, Paul; Kean, Steven J.; Keene, Patrick; Kingerski, Harry; Kishigami, Kikumi; Knight, Laurie; Landwehr, Susan M.; Lassere, Donald; Lawner, Leslie; Lawrence, Linda L.; Leibman, Lara; Leonardo, Samuel; Levy, Alberto; Lindberg, Susan; Linnell, Elizabeth; Long, Chris; Mara, Susan; Maurer, Luiz; McVicker, Maureen; Migden, Janine; Miller, Terri; Montovano, Steve; Moore, Bill; Nersesian, Carin; Neustaedter, Robert; Nicolay, Christi L.; Nord, Sue; Noske, Linda J.; Novosel, Sarah; O'connell, Earlene; Ogenyi, Gloria; Palmer, Germain; Perez, Carmen; Perez, Gus; Perrino, Dave; Petrochko, Mona L.; Pharms, Melinda; Reyna, Margo; Rishe, Frank; Rizzo, Helen; Roan, Michael; Robertson, Linda; Robinson, Marchris; Rodriquez, Andy; Ryall, Jean; Shapiro, Richard; Shelk, John; Shortridge, Pat; Staines, Dan; Steffes, James D.; Stephens, Sharonda; Stransky, Joan; Stroup, Kerry; Stubbings, Randy; Sullivan, Kathleen; Sullivan, Lora; Thome, Jennifer; Tiberi, Fino; Twiggs, Thane; Walton, Steve; Warner, Geriann; Yeung, Charles; Yoho, Lisa
Subject:	Government Affairs Retainer Agreements

Please send out Notices of Termination by November 30, 2001 for all retainer (fixed payments) agreements (lobbying, legal, consulting, etc...)  We need to end all payments as of December 31, 2001.  Thank you very much.

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


Sheila Tweed or Dale Rasmussen.  Mark


---------------------- Forwarded by Andrea Ring/HOU/ECT on 02/28/2001 12:56
PM ---------------------------

	From:  Karen D McIlvoy                           02/27/2001 10:55 AM

To: ragan.bond@bhlp.com
cc:  (bcc: Andrea Ring/HOU/ECT)
Subject: Fwd: CLINTONS LEAVING

---------------------- Forwarded by Karen D McIlvoy/HOU/ECT on 02/27/2001
10:51 AM ---------------------------

HGHanley@aol.com on 02/22/2001 10:42:47 AM
To: lantee@lsuhsc.edu, barry.j.belcher@boeing.com, HardyCole@cs.com,
blyzese@heart.org, LCPFlyer72@aol.com, kalo@prodigy.net,
karen.d.mcilvoy@enron.com, mcilvoy@pendulumenergy.com, dmmiller@wkhs.com,
Jadd202@aol.com
cc:
Subject: Fwd: CLINTONS LEAVING

Return-path: <LHT@aol.com>
From: LHT@aol.com
Full-name: LHT
Message-ID: <31.10cd93ea.27c69829@aol.com>
Date: Thu, 22 Feb 2001 11:28:25 EST
Subject: CLINTONS LEAVING
To: LHT@aol.com
MIME-Version: 1.0
Content-Type: multipart/mixed; boundary="part2_71.af596aa.27c69829_boundary"
X-Mailer: 6.0 sub 10502

THE CLINTONS LEAVING THE WHITEHOUSE. PLEASE DOWNLOAD.


Marnie -

I think I need to take a half day of vacation Friday, Oct. 20th.  I am
involved in some church activities next weekend and I won't find out if I
need this time off until tonight or Wednesday night.  Is that too short of
notice?


Here are the results of the third week.  Barrie is the first place
winner--due no doubt to the fact that her daughter lives in Ohio--so Barrie
picked both Cincinnati AND Cleveland to win.  Second place goes to Andy, and
Cary and Eldon tied for 3rd.

Two more  players sat down when Minnesota lost, so Nancy and the Deitrick's
are out of the Last Person Standing  pool.

And here's an explanation of the different worksheets in the file:

Week #3.   There will always be a worksheet with the results for  the  week,
It also shows ranking and total points.  It is sorted  by the total points
for the current week.

YTD Standings.  This worksheet shows the cumulative points and ranking.  It
is sorted  by  total points.

LPS.  Status of Last Person Standing pool.  An "x" above a name indicates
that that person is no longer standing.  Also, you can see which teams you
have picked  in the past.

PAYOUT. Shows the money winners each week and the cumulative total.  Sorted
by dollars won.

There may be other weeks still showing, but Nancy drops them off as the
season progresses so the file does not get too big.  Please call if you have
any question about this or you spot an error somewhere.


> RUSSIAN CONDOMS
> >
> >    Russian President Putin called President George W. Bush with an
> "emergency:
> >    "Our largest condom factory has exploded," the Russian President
cried.
> >    "My people's favorite form of birth control......this is a true
> disaster!"
> >    "Mr. Putin, the American people would be happy to do anything within
> their
> >    power to help you," replied the President.
> >    "I do need your help," said Putin.  "Could you possibly send
1,000,000
> >    condoms, ASAP, to tide us over?"
> >    "Why certainly!  I'll get right on it," said Bush.
> >    "Oh, and one more small favor, please?" said Putin.
> >    "Yes?"
> >    "Could the condoms be red in color and at least 10 inches long and 4
> inches
> >    in diameter?" asked Putin.
> >    "No problem," replied the President.
> >    With that, George W. hung up the phone and then called the President
of
> the
> >    Acme Condom Company.
> >    "I need a favor. You've got to send 1,000,000 condoms over to Russia
> right
> > away."
> >    "Consider it done," said the CEO of Acme.
> >    "Great!  Now listen.  They have to be red in color, 10 inches long,
and
> 4
> >    inches in diameter."
> >    "Easily done.  Anything else?"
> >    "Yeah," said Bush. On each one print   the words 'MADE IN TEXAS,
SIZE:
> > SMALL."
> >
> >
>


Once--in March, in Riadosa, NM.  People were literally skiing in tank tops
and shorts.  I heard the slopes at ski apache, where I went, is about 10
times easier than Colorado slopes.  Needless to say, I'm a little nervous
about how well I will do.  But I am extremely excited about going.  When I
did ski before, I was the one in the ski school that everyone was waiting on
because I kept falling, but before I left I made it down all the blues
successfully and one black semi-successfully.  My biggest fear of all is the
cold.  I HATE COLD WEATHER!!  It should be interesting.  On top of it, I'm
extremely excited becase this will be my first vacation I have EVER taken.
Yipppeee!!!

D

-----Original Message-----
From: Eric.Bass@enron.com [mailto:Eric.Bass@enron.com]
Sent: Thursday, November 16, 2000 2:58 PM
To: DFranklin@hanovermeasurement.com
Subject: RE:

Yep, I hit the site every day to check out the weather and snow reports.  I
am excited because I haven't experienced real winter like conditions for 3
years.
Have you been skiing before?

-Eric

"Donnita Franklin" <DFranklin@HanoverMeasurement.com> on 11/16/2000
10:28:36 AM

Please respond to <DFranklin@HanoverMeasurement.com>

To:   <Eric.Bass@enron.com>
cc:
Subject:  RE:

You're not excited about going, are you?  Are you hitting that site daily
now?

-----Original Message-----
From: Eric.Bass@enron.com [mailto:Eric.Bass@enron.com]
Sent: Wednesday, November 15, 2000 4:45 PM
To: shusser@enron.com; dfranklin@hanovermeasurement.com;
Jason.Bass2@COMPAQ.com; daphneco64@bigplanet.com;
lwbthemarine@bigplanet.com
Subject:

http://www.rsn.com/pages/include/cams/campic.html?rsn_resort=telluride


inez dauterive - 36789


Pani Grazyno,

Dziekuje bardzo za wiadomosc. Autor ksiazki przeslal mi egzemplarz.
Na pewno skorzystam z okazji, by kupic inne ksiazki Pani wydawnictwa.
Any web-site I can access?

W. Kaminski

"Wydawnictwa Naukowo-Techniczne" <marketing@wnt.com.pl> on 03/01/2001
09:57:19 AM
To: <vkamins@enron.com>
cc:
Subject: zakup ksiazki "Inzynieria finansowa" w WNT

Uprzejmie informuje, ze do dnia dzisiejszego  nie wplynely pieniadze na
zamowiona ksiazke, wobec czego uwazam to za rezygnacje  z zakupu.
Serdecznie pozdrawiam.
Grazyna Piesniewska


I've left a message for Mike Swerzbin, the trader on these deals. They're
both in Enpower the way they're in his trade log, so I don't want to change
anything until I talk to him. I'm also going to call Judy Dyer at EES for
confirmation on the 517876 price. I'll let you know.

Thanks,
Kate

Evelyn Metoyer@ENRON
02/09/2001 12:05 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.


Hi Pete,

Here's some language to be included in the form contract.

Thanks,

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 02/15/2001 03:01
PM ---------------------------
From: Scott Dieball@ENRON_DEVELOPMENT on 02/15/2001 02:42 PM
To: Sheila Tweed/HOU/ECT@ECT, Kay Mann/Corp/Enron@Enron
cc:

Subject: GE

Attached is the latest markup on the warranty language which GE is now
reviewing.  I also have a few comments from John Rigby which may be worth
adding but I suggest we hold off until we discuss the warranty language with
GE next week.

I also spoke to Steve Swift who indicated that he would Email to Sheila what
has been agreed to on indemnity, LOL, ect. and what we intend to insert into
the Arcos contract.  FYI I do not intend to use the "end world hunger"
warranty language in the Arcos contract as I want GE back-to-back on what we
have signed up to with the owner under the EPC contract.

Regards,

Scott


Hi again!

I'm pretty sure that the commissions are included on statements and charge to us daily.  Therefore, the numbers that we are confirming as either excess or margin call, is inclusive of the fees.  I believe Jason Fisher would have the exact amount of the fees.  I know this question has been proposed several times and I've always refered them directly to Jason, and I'm assuming that he was able to help as I never heard back from anyone.

I hope I'm leading you in the correct direction.  If not, please let me know so that I too may be aware.

Thanks!
gg

-----Original Message-----
From: Quigley, Dutch
Sent: Mon 11/5/2001 8:56 AM
To: Gosnell, Gerri
Cc:
Subject: RE: EDF Man's Excess

Gerri,

Do you know who pays the brokers commissions each month ?
I am trying to gather the per transaction costs they we pay on the exchange.

Dutch

-----Original Message-----
From: Gosnell, Gerri
Sent: Monday, November 05, 2001 8:41 AM
To: Garcia, Paul; Hart, Reginald; Swisher, Nera; Hodges, Georganne; Quigley, Dutch; Reeves, Leslie; Whiting, Greg
Subject: EDF Man's Excess

Good Morning!

We have excess of $4,498,358.00 with EDF Man.  I called and talked with Paul this morning and he said that he could not confirm the wire for today as of yet.

I'll let you know asap.

Thanks!
gg


Certainly, Lisa. I've been working very closely with Emilio Vicens and Guido
Caranti, the leaders of the project. Please let me know what specific
questions do you have and perhaps I could help you better. As a general
overview, though, these are the highlights:
This is a joint project between PDVSA, the State-owned petroleum company, and
Enron. So far, no other investors are on board. It is part of the commercial
strategy, however, that as soon as the project starts, there will be a
selldown.
As of yet, no agreement has been signed but final drafts or near final
documents have been negotiated:
Methane gas supply to the plant and natural gas liquids back to PDVSA (i.e.,
Gas Supply Agreement) is final, ready to sign. This document includes, among
other terms and conditions, the pricing structure with all the escalators,
delivery terms, the quality of gas, penalties for non-delivery, and service
fee for processing and returning the gas liquids.
Rights to plant site at Jose and rights to use existing pier (i.e., LNG Sites
and Pier Agreement, Usufruct and Servitude Agreement), both final and ready
to sign
PDVSA participation in the project, involving equity option, commercial
oversight and offtake term sheets (i.e., Participation Agreement) is near
final. PDVSA has an option of up to 25% ownership, in 5% steps, including
cero percent. PDVSA has to exercise this option within 180 days (or so,
please do not quote me on this date) from date of agreement
These documents, as well as clearance from the Ministry of the Environment
(for environmental requirements) and the Ministry of Infrastructure (for
utilization of port facilities), are ready to be approved but on hold until
the project is approved by the Ministry of Energy and Mines (MEM).
MEM is delayed because it is performing a national energy balance, i.e.,
supply and demand of natural gas for the short, medium and long term (as in
any good centralized economy. Any resemblance to Eastern Europe ghosts is
pure coincidence). The argument goes that there's a short-term gas deficit
(these are the kind of things that happen when you don't let the market
work!) Every person we talk, though, has a different story, and the numbers
vary greatly. The latest version is that, with the accomplishment of a few
projects by PDVSA, the deficit would disappear in two-three years (the
project would require from three and a half to four years from signing date.)
There is no official position on this issue, however, and the numbers are
extremely hard to get. Meanwhile, there are huge distortions in the pricing
mechanisms (both by type of customer as well as by geographical location.)
Please note that Venezuela has reserves of 146 TCF, making it the seventh
largest country in the world in terms of reserves. Moreover, there has not
been exploration for gas, and therefore it is expected that the amount of
reserves would increase. Clearly, the reserve base is there.
Some efforts are being made to partially remove these distortions such as
escalate the price to more realistic levels and remove cross-subsidies among
customer classes and industries. A gas tariff is pending for approval by the
president. It should be out in the next few days. This resolution will tell a
lot about the development of gas projects in Venezuela, especially upstream,
because it sets the prices of gas independently of its origin (associated to
oil production vs. non-associated gas). It would also set a fixed floor at
which PDVSA would buy all the gas not marketed.
PDVSA has not been very effective in pushing the project in the MEM. We've
been shocked on how uninformed the MEM is. Given the traditional impositions
that PDVSA exerted on the MEM, the latter is weary of PDVSA's actions and
consequently is acting with lots of precaution. Our participation (we're
doing PDVSA's legwork) has provided significant momentum, such as the
creation of working groups to study its details. In any event, high ranking
officials told us that they are very interested and that we should get an
answer soon.
The meeting between Venezuela's Vice-President (Chavez himself, regretfully,
couldn't assist), the head of PDVSA Mr. Lameda, Mark Frevert, Mike McConnell,
and the head of the project Emilio Vicens went very well. Mr. Lameda at one
point said that this project represents a win-win-win situation for PDVSA,
the MEM, and Enron.
If you need any further assistance, please just let me know. Thanks,
ALF

From: Lisa Yoho on 02/26/2001 09:34 AM
To: Alberto Levy/SA/Enron@Enron
cc:

Subject: Re:

Alberto - I wanted to get an update on our LNG project in Venezuela.   Have
you been involved in that project?   Thanks, lisa


Oh yeah, he's the one.

 -----Original Message-----
From: 	Kenne, Dawn C.
Sent:	Tuesday, January 15, 2002 4:46 PM
To:	Keiser, Kam
Subject:	Joe Belton????

Is that his name???

Dawn


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You are currently subscribed to hotdeals as pkeavey@ect.enron.com
To unsubscribe send a blank email to leave-hotdeals-1606467L@hotdeals.bestfares.com
 Copyright 2001 by Bestfares USA Inc. All rights reserved.


Sally,

This resume was sent to me by one of the recruiters we use.  I thought you
might be interested in him because of his current position at Dynegy.

Susan
---------------------- Forwarded by Susan Harrison/HOU/ECT on 06/14/2000
03:26 PM ---------------------------

"Steve Tinsley" <tins2@tinsleygroup.com> on 06/05/2000 04:24:40 PM
To: <susan.harrison@enron.com>
cc:
Subject: T.J. McReynolds

Susan,
?
I have known T.J. for several years and his is  interested in working for
Enron.? Do you know if there is a position  available at his level? Should I
snd his resume to anyone else at Enron??  Please advise.
?
Thanks,
Steve
 - T.J.McReynolds@.doc


Start Date: 4/29/01; HourAhead hour: 23;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001042923.txt

---- Energy Import/Export Schedule ----
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: ECTstCA
  MKT_TYPE: 2
  TRANS_DATE: 4/29/01
  TIE_POINT: FCORNR_5_PSUEDO
  INTERCHG_ID: EPMI_CISO_4C
  ENGY_TYPE: FIRM


Mark,
 Please go ahead and have this Letter Agreement executed as revised and send
it to my attention.  I have instructed the traders concerned to execute the
password agreement. Thank you.
Adele

-----Original Message-----
From: Mark Taylor [mailto:mtaylo1@ect.enron.com]
Sent: Tuesday, January 11, 2000 10:40 AM
To: adele.raspe2@pseg.com
Subject: Re: electronic trading agmt.

---------------------- Forwarded by Mark Taylor/HOU/ECT on 01/11/2000 09:38
AM
---------------------------

To:   "Raspe, Adele M." <Adele.Raspe2@pseg.com>
cc:
Subject:  Re: electronic trading agmt.  (Document link: Mark Taylor)

Adele,

Here is a revised version.  Let me know what you think.

Mark

(See attached file: PSEG.doc)


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!!!A user transaction is already in progress.


Please print 3 copies for me in color.  Thanks.
---------------------- Forwarded by Sally Beck/HOU/ECT on 03/07/2000 12:34 PM
---------------------------

	Enron North America Corp.

	From:  Michael E Moscoso                           03/07/2000 11:12 AM

To: Sally Beck/HOU/ECT@ECT
cc:
Subject: Feb. 2000 DPR Delivery Times


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 02/12/2001
11:17 AM ---------------------------

"Btu" <subs@btu.net> on 02/09/2001 04:19:24 PM
To: "Btu Weekly" <>
cc:
Subject: Btu Weekly

Attached is the latest issue of Btu Weekly.

e-mail: info@Btu.net
phone: 732-758-8222
fax: 732-758-8286

 - wg021201.pdf


---------------------- Forwarded by Kay Mann/Corp/Enron on 11/01/2000 11:27
AM ---------------------------

"Way, Karen S. - CHI" <karen.way@piperrudnick.com> on 10/09/2000 02:52:14 PM
To: "'kay.mann@enron.com'" <kay.mann@enron.com>
cc: "'rusty.stevens@enron.com'" <rusty.stevens@enron.com>,
"'fred.mitro@enron.com'" <fred.mitro@enron.com>, "Gershon, Mark A. - CHI"
<Mark.Gershon@piperrudnick.com>, "Townsend, Christopher J. - CHI"
<chris.townsend@piperrudnick.com>, "Shindler, Donald A. - CHI"
<Donald.Shindler@piperrudnick.com>

Subject: Schaeffer Property - Livingston County, Illinois

Kay:

This morning, Rusty requested that we prepare an Option Agreement for the 29
acre parcel west of the Livingston Energy Center.  This property could be
used as a construction laydown site, but more importantly would provide a
sound buffer for the project.  It is our understanding that the Option
Agreement is to be presented to the property owner at some point next week.
We will forward a draft of the agreement to you no later than Monday,
October 16, 2000.  Please feel free to call me or Don Shindler
(312-368-2175) with any questions regarding the agreement.  Best regards.

Karen S. Way
Piper Marbury Rudnick & Wolfe
203 N. LaSalle
Chicago, Illinois 60601
email:  karen.way@piperrudnick.com
(ph) 312-368-2152
(fax) 312-630-6347

____________________________________________________________________________
The information contained in this communication may be confidential, is
intended only for the use of the recipient named above, and may be legally
privileged.  If the reader of this message is not the intended recipient, you
are hereby notified that any dissemination, distribution, or copying of this
communication, or any of its contents, is strictly prohibited. If you have
received this communication in error, please re-send this communication to
the sender and delete the original message and any copy of it from your
computer system.
Thank you.

For more information about Piper Marbury Rudnick & Wolfe, please visit us at
http://www.piperrudnick.com/
____________________________________________________________________________


You are working too hard.


please put in rolodex.
---------------------- Forwarded by Jeffrey A Shankman/HOU/ECT on 12/18/2000
08:06 AM ---------------------------

Jay Perl <jperl@sempratrading.com> on 11/15/2000 09:28:36 AM
To: "Jeff Shankman (E-mail)" <jeff.shankman@enron.com>
cc:
Subject: Hey Poookie

I'd have emailed you earlier, but you keep changing your email address.
Well, I'm here at Sempra marketing power.
Thanks again for all your help. Hope your new house is a babe magnet.
Going to Vegas for Day of the Trader. Shank dogggy dog dog.

See ya.

Jay Perl
Sempra Energy Trading
office: 203-355-5074
cell: 914-261-6025
email: jperl@sempratrading.com

****************************************************************************
This e-mail contains privileged attorney-client communications and/or
confidential information, and is only for the use by the intended recipient.
Receipt by an unintended recipient does not constitute a waiver of any
applicable privilege.

Reading, disclosure, discussion, dissemination, distribution or copying of
this information by anyone other than the intended recipient or his or her
employees or agents is strictly prohibited.  If you have received this
communication in error, please immediately notify us and delete the original
material from your computer.

Sempra Energy Trading Corp. (SET) is not the same company as SDG&E or
SoCalGas, the utilities owned by SET's parent company.  SET is not regulated
by the California Public Utilities Commission and you do not have to buy
SET's products and services to continue to receive quality regulated service
from the utilities.
****************************************************************************


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Engine (error $2A04)
!!!An error occurred while attempting to initialize the Borland Database
Engine (error $2A04)
!!!An error occurred while attempting to initialize the Borland Database
Engine (error $2A04)
!!!An error occurred while attempting to initialize the Borland Database
Engine (error $2A04)
!!!An error occurred while attempting to initialize the Borland Database
Engine (error $2A04)
Error: dbCaps97Data: Cannot perform this operation on a closed database
!!!An error occurred while attempting to initialize the Borland Database
Engine (error $2A04)
!!!An error occurred while attempting to initialize the Borland Database
Engine (error $2A04)
!!!An error occurred while attempting to initialize the Borland Database
Engine (error $2A04)
!!!An error occurred while attempting to initialize the Borland Database
Engine (error $2A04)
!!!An error occurred while attempting to initialize the Borland Database
Engine (error $2A04)
!!!An error occurred while attempting to initialize the Borland Database
Engine (error $2A04)
!!!An error occurred while attempting to initialize the Borland Database
Engine (error $2A04)
!!!An error occurred while attempting to initialize the Borland Database
Engine (error $2A04)
!!!An error occurred while attempting to initialize the Borland Database
Engine (error $2A04)
!!!An error occurred while attempting to initialize the Borland Database
Engine (error $2A04)
!!!An error occurred while attempting to initialize the Borland Database
Engine (error $2A04)
!!!An error occurred while attempting to initialize the Borland Database
Engine (error $2A04)
!!!An error occurred while attempting to initialize the Borland Database
Engine (error $2A04)
!!!An error occurred while attempting to initialize the Borland Database
Engine (error $2A04)
!!!An error occurred while attempting to initialize the Borland Database
Engine (error $2A04)
Error: dbCaps97Data: Cannot perform this operation on a closed database
!!!An error occurred while attempting to initialize the Borland Database
Engine (error $2A04)
!!!An error occurred while attempting to initialize the Borland Database
Engine (error $2A04)
!!!An error occurred while attempting to initialize the Borland Database
Engine (error $2A04)
!!!An error occurred while attempting to initialize the Borland Database
Engine (error $2A04)
!!!An error occurred while attempting to initialize the Borland Database
Engine (error $2A04)
!!!An error occurred while attempting to initialize the Borland Database
Engine (error $2A04)
Error: dbCaps97Data: Cannot perform this operation on a closed database


Start Date: 4/5/01; HourAhead hour: 20;  No ancillary schedules awarded.
Variances detected.
Variances detected in Generation schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001040520.txt

---- Generation Schedule ----
$$$ Variance found in table tblGEN_SCHEDULE.
     Details: (Hour: 20 / Preferred:  12.00 / Final:  12.03)
  TRANS_TYPE: FINAL
  SC_ID: Wheelabrat
  MKT_TYPE: 2
  TRANS_DATE: 4/5/01
  UNIT_ID: MARTEL_2_AMFOR


Executive Summary:

The likelihood of there being an involuntary bankruptcy filing against the utilities appears to be greater than 60%.  This is not only due to the circumstances surrounding the filed rate doctrine case mentioned below, but also because the 30-day cure period during which the utilities have not been paying their bills will end this week, increasing the likelihood that their IPP creditors will act against them.  If the state loses the filed rate doctrine case today (which it is believed will happen) and there is an involuntary bankruptcy filing (or even the threat of one), this bail-out plan will be enacted quickly.

1.	Utilities vs. CPUC

Governor Davis' attempt to delay the filed rate doctrine case will not succeed.  The case will come before the judge on Monday, February 12th.  The federal judge is expected to rule a summary judgment in favor of the utilities.  However, the judge will not allow the utilities to collect the injunction release they are requesting ($.01/kwh).  This will be left to an appellate court.  The decision not to allow the utilities to collect this cash could trigger an involuntary bankruptcy filing, by the smaller IPPs (as noted in our reports last week) or by larger out-of-state generators such as Duke, Reliant, and Dynegy (as noted in the press this morning).  This is expected next week or the week after.

2.	Prospects for a Bailout

Bill AB 18X is effectively dead from lack of support.

Senator Burton, despite his public refusals, is moving closer to agreeing to a utility bail-out.  The statements by Burton and the CA State Treasurer are merely a negotiating position.  They are more concerned about the possibility of a bankruptcy than they appear.  For Burton, this is because of his long association with labor unions; the unions oppose the utility bankruptcy.

Burton has been negotiating with consumer advocate Harvey Rosenfield so as not to get attacked by him.  The deal Burton is expected to arrange would be for:

Bonds to be issued by the utilities rather than the state, but with some kind of state support (but less than "full faith and credit of the state of CA," which would not pass).  This would amount to the securitization of an extra charge on power bills (e.g. $.01, though the actual amount is not known).  These bonds would be asset-backed securities, with payment receivable from rate payers.  The term of these bonds is unknown; if the term is made quite long (e.g. 20 years), the associated rate increase could be very small.
The state would purchase the utilities' transmission assets for a very high price.  The amount of the extra charge on power bills will not be known until the price of the transmission assets is settled.

If the state loses the filed rate doctrine case today (which it is believed will happen) and there is an involuntary bankruptcy filing (or even the threat of one), sources believe that this bail-out plan will be enacted quickly.  As noted in an earlier report, the California legislature habitually does not act until things "hit the wall."

It is expected that the Republicans in the legislature will follow Burton's lead and support the bail-out plan.  The Assembly members in particular are not yet supportive of a plan of this nature.  One moderate democratic legislator with whom our source spoke said that the opposition to a bail-out in her Central Valley district is "50 to 1."   However, an involuntary filing (or the threat thereof) may be enough to trigger legislative support.  It would allow the argument of an "imminent threat" to the people of the state of California.

3.	Consumer Opposition

Harvey Rosenfield is too short on cash to fight this plan and the associated rate increase with anything but a referendum.  If the referendum fails, he intends to attack individual legislators (though not John Burton, who reportedly has "immunity" from Rosenfield).

Some legislators are thinking of voting for the bail-out plan, then supporting a referendum from Rosenfield later.  However, if the bail-out plan and rate increase described above is passed through the legislature as a bill (rather than put in place by the PUC, for example), it cannot be reversed by a referendum.  As additional insurance against Rosenfield, by supporting the bonds issued under the plan, the state can argue that its credit would be impaired in the case of a referendum to repeal the plan.  While it is not clear that this is a factual argument, it still might impede any referendum.


Lost Items:
A cell phone and pair of glasses were found after the conference. Contact
Sara Davidson, if either of these items belongs to you.

Presentation Materials:
The guest speaker presentations will be available at the Enron Law Conference
website by the end of this week. The website is at
http://lawconference.corp.enron.com/. These materials can be found under the
Conference Schedule or . Through the icons on the left hand side the files
can be either launched and printed from the website, or the documents can be
sent to you via email.

Enron Legal Edge Availability:
Due to technical problems, the Enron Legal Edge will not be available till
later this week. An email will be sent out to all users when the site is
running and available. Sorry, for the delay.


I hadn't heard from you in a while - just wondered how you were.


I agree.  This is another instance of a case where products seem to have been
opened/not correctly updated/changed.  I think it's safe to assume that they
shouldn't be trading Dutch power...

Also, they appear to be open for a slew of other European products for which
they shouldn't be open.  Thanks for the catch.

WG

 -----Original Message-----
From:  Jones, Tana
Sent: Tuesday, March 06, 2001 3:23 PM
To: Moran, Tom; Guidroz, Walter
Subject: MidAmerican Energy Company

Is there any reason why this counterparty has transact on NL power?  I cannot
believe they have a power marketing license there?


Congratulations.  It's always good to see another Chicagoan move forward.

We are in for an exciting time, and I'm proud to be part of this organization.
---------------------- Forwarded by Eric G Pitcher/HOU/EES on 12/13/2000
08:57 AM ---------------------------

Ken Lay@ENRON
12/13/2000 06:01 AM

Sent by: Enron Announcements@ENRON
To: All Enron Worldwide
cc:
Subject: Succession Plan

It is my great pleasure to announce that the Board has accepted my
recommendation to appoint Jeff Skilling as chief executive officer, effective
at the time of their next board meeting on February 12, 2001.  Jeff will also
retain his duties as president and chief operating officer.  I will continue
as chairman of the Board and will remain at Enron, working with Jeff on the
strategic direction of the company and our day-to-day global operations.

Jeff will assume the role at a time when the company is hitting on all
cylinders and is positioned for phenomenal growth.  He is clearly ready for
the job, and after 15 years as CEO of this great company, I,m ready for a
somewhat different role.

Our succession plan has been clear for some time.  This has afforded Jeff and
me the freedom to combine our strengths toward building a company that
continues to exceed everyone,s expectations, including our own.  We look
forward to furthering that relationship as Jeff expands his role.

There are no plans for any other changes in our management team nor broad
shifts in strategy and direction.

Please join me in congratulating Jeff.  I look forward to a great 2001.


FYI - just sent this note to Tenn.

 -----Original Message-----
From: 	Germany, Chris
Sent:	Wednesday, October 17, 2001 4:10 PM
To:	'corey.grindal@ElPaso.com'
Subject:	Discount

Would you see if we have a discount for gas flowing from 500L to Carnes on Sep 14th?  We had discounts before and after so it seems like we would have a discount for that day as well.  I can't find anything in my notes.

Thanks


Don:
Regarding my conversation with John Garrison on the GE 7FA costs.

Delivery:  '00-'01  Cost:  $36.0 MM
Delivery:  '98-'99  Cost:  $34.250 MM
Delivery:  '96-'97  Cost:  $32.0 MM
Delivery:  '95-'97  Cost:  $30.0 MM

It looks like that for every year and a half the costs go up approx. $2.0
MM.  The next available order for GE 7FA's is 3rd qtr. 2003.

Ben
3-7998


Who do you want me to send my accomplishments to?

					Chris


---------------------- Forwarded by Kay Mann/Corp/Enron on 06/09/2000 11:13
AM ---------------------------

"Stan Jensen" <sjensen@bracepatt.com> on 06/09/2000 10:57:21 AM
To: <Kay.Mann@enron.com>
cc:

Subject: Re: Assignment of GE Contract regarding Vitro Project

Attached are the EPC contract with Mitsui that was executed and the Exhibits
to same.

The split EPC contracts and Exhibits are in draft form and have not been
executed.  I will have my secretary send you a copy of the latest drafts
later today if you have any specific question please feel free to call or
drop me an email.

>>> <Kay.Mann@enron.com> 06/08 6:15 PM >>>

Stan,

Could you please me send me the electronic file of the executed EPC
contracts, including the consolidation agreement?

Thanks,

Kay

"Stan Jensen" <sjensen@bracepatt.com> on 06/08/2000 02:57:57 PM

To:   <Jeff.Blumenthal@enron.com>, <kay.mann@enron.com>,
      <Peggy.Banczak@enron.com>, <Steve.Irvin@enron.com>
cc:

Subject:  Assignment of GE Contract regarding Vitro Project

Following discusions with Kay Mann and Robert Stephens we revised the
Assignment Agreement to have the payment terms for the GE Turbine
incorporated in the Assignment Agreement and to provide Enron North America
the option to have the GE Turbine either returned to it or returned to EEIM
upon  termination of the EPC Contract.

Attached is a revised clean version of the Assignment Agreement and a
redline showing how the revised version is different from the original.

Please feel free to call me at (713) 221-1524 with any questions.

Stan Jensen

(See attached file: ASSIGN.doc)
(See attached file: ASSIGNre.doc)

 - EPCMITS.doc
 - EXHIMITS.doc


Attached for review are the draft template GTC and Confirm forms for the monthly wellhead and pooling point purchase business of ENA Upstream.  Please review and provide any comments you may have as soon as possible.  We would like to implement these templates for October business going forward.

Judy,  We need to discuss how the "Keep Whole" language used for the torch deal, should be incorporated into these forms for those deals with the negotiated Keep Whole.  Ellen, has scheduled a meeting for Thursday to discuss.


Steven,

I am contacting you with a unique offer that will help Enron Corp. reduce
IT/software development and maintenance costs by up to 80% of what your
paying today.  I hope you are the right point of contact as I am writing to
a number of people at your organization in a variety of roles.

We have a large team of the best developers in India, the majority of who
were originally computer science graduates out of the Indian Institute of
Technology (India's premier technology university). These engineers are
experts in both commercial and application software development with
experience implementing industry standard methodologies. We provide
unbeatable rates on quality engineers with a proven track record of success
in J2EE, XML, SOAP and Web Services.

Our rates start at $6/hr for offshore and $19/hr for onsite. We are
committed to 100% satisfaction and guarantee completely the quality of our
work.  There is no catch and there is no risk.

If you do not believe you are the right person to consider this proposal, I
would appreciate it if you could forward it to the appropriate
person/people, as I am certain they will find this offer very attractive.
If you'd prefer not to be considered for this, please let me know.

Again, thank you Steven, I appreciate your help. If you have any specific
questions, please don't hesitate to call me.

Josh Nussbaum
Induslogic Inc.
Phone: 703-516-4200 x20
Email: josh@induslogic.com


Thanks, Chris.

Rick - see the witness list below, in case you want to try to get some points
through to these witnesses.

	Chris Long
	09/25/2000 04:14 PM

		 To: Steven J Kean/NA/Enron@Enron, Joe Hillings/Corp/Enron@ENRON
		 cc: Amy Fabian/Corp/Enron@ENRON, Maureen McVicker/NA/Enron@Enron, Cynthia
Sandherr/Corp/Enron@ENRON
		 Subject: Senate Banking Hearing

Steve: I got the copy of the letter on independent auditor from Ken Lay to
SEC Chairman Levitt.   I suggest we transmit the letter to the Senate Banking
Subcommittee on Securities in preparation for their hearing noted below.  I
will prepare a cover letter for transmission. Let me know if this acceptable.

---------------------- Forwarded by Chris Long/Corp/Enron on 09/25/2000 05:04
PM ---------------------------

	From:  Allison Navin                           09/25/2000 04:35 PM

To: Chris Long/Corp/Enron@ENRON
cc:

Subject: Senate Banking Hearing

This hearing will be held on Thursday, September 28.

Senate Banking, Housing and Urban Affairs Committee
SEC Audit Rule
Securities Subcommittee hearing on the proposed rule issued by the Securities
and Exchange Commission (SEC) to restrict the types of services independent
public auditors may provide to audit clients.
Witnesses: Arthur Levitt,, SEC chairman; John biggs, chairman, president and
CEO, TIAA-CREF; Barry Melancon, president, American Institute of Certified
Public Accountants; Shaun O'Malley, chairman public oversight board, Panel on
Audit Effectiveness; Rick Antle, professor of accounting, Yale University
School of Management
Location: 538 Dirksen Senate Office Building. 9:20 a.m.
Contact: 202-224-7391 [Link]
Revised


---------------------- Forwarded by Phillip M Love/HOU/ECT on 04/05/2001
10:02 AM ---------------------------
From: Veronica Espinoza/ENRON@enronXgate on 04/05/2001 09:47 AM
To: Janie Aguayo/HOU/ECT@ECT, Diane Anderson/NA/Enron@Enron, Derek
Bailey/Corp/Enron@ENRON, David Baumbach/HOU/ECT@ECT, Jean Bell/HOU/ECT@ECT,
Patricia Boulanger/CAL/ECT@ECT, Bob Bowen/HOU/ECT@ECT, Julie
Brewer/NA/Enron@Enron, Lesli Campbell/ENRON@enronXgate, Celeste
Cisneros/NA/Enron@Enron, Sharon Crawford/CAL/ECT@ECT, Richard
Deming/NA/Enron@Enron, Russell Diamond/ENRON@enronXgate, Cindy
Feldman/CAL/ECT@ECT, Darron C Giron/HOU/ECT@ECT, Veronica
Gonzalez/ENRON@enronXgate, Jeffrey C Gossett/HOU/ECT@ECT, Walter
Guidroz/ENRON@enronXgate, Larry Joe Hunter/HOU/ECT@ECT, Kam
Keiser/HOU/ECT@ECT, Phillip M Love/HOU/ECT@ECT, Errol
McLaughlin/Corp/Enron@ENRON, Nidia Mendoza/ENRON@enronXgate, Tom
Moran/ENRON@enronXgate, Bianca Ornelas/NA/Enron@Enron, Leslie
Reeves/HOU/ECT@ECT, Tanya Rohauer/ENRON@enronXgate, Dianne Seib/CAL/ECT@ECT,
Linda Sietzema/CAL/ECT@ECT, Kim S Theriot/HOU/ECT@ECT, Ellen
Wallumrod/NA/Enron@ENRON, Melinda Whalen/CAL/ECT@ECT, Tiffany
Williams/NA/Enron@Enron
cc:
Subject: Credit Report--4/5/01


Genco is a subsidiary of A, a registered holding company under the 1935 Act.

Under Section 6 of the 1935 Act, companies in a registered system (that is,
Genco and A) require SEC approval to issue and sell securities.

A has an existing basket of authority, up to approximately $440 million,
under can issue and sell securities and/or provide credit support to finance
the acquistion and operations of EWGs such as the Peakers.

If A wishes to increase that authority, the SEC will require letters from
each of A's retail regulators (Pennsylvania, Maryland, West Virginia,
Virginia and Ohio).  The question is not whether A can obtain those letters;
rather, the issue is one of timing, in particular, the potential delay
associated with the state processes.

In contrast, no state letters are required for Genco to increase its
financing authority.  Further, the application and review process should be
very straightforward given the financial strength of Genco and the A system
generally.

A final concern is the potential for delay associated with any regulatory
process.  This concern can be best addressed by establishing a deadline for
fiiling a "complete" application, ensuring that we have the opportunity to
review and comment on any submissions and, off the record, by our discussions
with the SEC staff.

Hope this is helpful.

Best

Joanne


fyi.
---------------------- Forwarded by Steven J Kean/NA/Enron on 04/30/2001
07:43 AM ---------------------------

Rosalee Fleming on 04/26/2001 04:00:22 PM
To: Steven J Kean/NA/Enron@Enron
cc:

Subject: On Market Power in California

Ken wanted you to have a copy
---------------------- Forwarded by Rosalee Fleming/Corp/Enron on 04/26/2001
03:51 PM ---------------------------

Willliam Hogan <William_Hogan@harvard.edu> on 04/25/2001 06:34:08 AM
To: ER:;
cc:
Subject: On Market Power in California

FYI.? The complete version of the following paper is available on my web page
at:

www.whogan.com

????????ON THE EXERCISE OF MARKET POWER THROUGH
STRATEGIC WITHHOLDING IN CALIFORNIA
Scott Harvey and William W. Hogan
April 24, 2001

EXECUTIVE SUMMARY

Beginning in June of 2000, the shock of unexpectedly high prices in the
California electricity market convinced everyone of the need for policies to
correct the apparent market failures.? The public debate and policy
discussions have been dominated by a focus on market power as a principal
problem amenable to regulatory solution.? However, design of effective
policies to moderate prices or mitigate their effects depends on the
diagnosis of the underlying causes.? High prices attributable largely to an
exercise of market power in electric generation would point to particular
market participants and behaviors that could be targeted for regulatory
action.? By contrast, high prices attributable to bad electricity market
design would indicate a need for changes in the design.? High prices
attributable to higher fuel prices, environmental constraints and capacity
shortages, on the other hand, would prompt actions to address the cost of
fuel and environmental limitations and indicate that retail loads should
receive the appropriate price signal for conservation.

Suppliers could affect market prices by strategically withholding some
capacity in order to profit on the capacity actually sold in the market.? But
charging high prices during periods of scarcity is not classified as
exercising market power if there is no strategic withholding of supply.?
Likewise, refusing to supply without being paid is not an exercise of market
power.? Although the potential for withholding exists for many suppliers, the
focus of attention has been on the exercise of market power by thermal
generators in California.

On its face, the experience of extremely high prices suggests that the
exercise of market power could be important.? But at the same time the data
show that there have been profound changes in the California market such that
the thermal generators have actually increased their production more than
demand has grown.? If anything, thermal generators that hit annual output
limits produced too much rather than too little in the summer of 2000.?
Furthermore, the widespread impacts of higher electricity prices throughout
the western market, both on and off peak,? indicate that if the exercise of
market power is important it is occurring to an extent and through channels
unprecedented in this or other electricity markets.? In short, this is a
complicated story, and there is ample room for further investigation of the
data and diagnosis of causes.

Examination of the major analyses of the exercise of market power reveals
that the estimated magnitude of the possible strategic withholding of
electric generation is small enough to make it important to verify the
simplifying assumptions.? If strategic withholding were large and pervasive,
then the real details of the California electricity market could be ignored.?
But it is by now apparent that the evidence is not clear, and any finding of
the presence or absence of strategic withholding of generation in the
California electricity market could turn on the simplifying assumptions used
in the analysis of the data.? For example, annual limits on production
dictate that plants should not run in many hours when prices are higher than
direct incremental costs; hence, examinations of output decisions for
individual hours or months are necessarily incomplete.? The variation in real
time conditions is large enough to produce significant reductions in output
compared to the expectations given day-ahead prices; hence, with capacity
constraints average optimal production is necessarily less than optimal
production at average prices.? Limits on the ramping rate of generation
units, start-up costs, minimum load costs and other operational
inflexibilities imply that a dispatch day is not just twenty-four separate
hours and must be analyzed chronologically, recognizing these factors.? And
so on.? Accounting for such effects can reverse the implications of the
previous evidence.? Unfortunately, the real details are neither simple nor
incidental.

It is difficult to conduct a study of market power based solely on publicly
available data.? A fuller analysis would require data available only to the
California Independent System Operator, and has not been done.? Many factors
contributed to higher electricity prices in California, and the market power
theme is only, at most, part of the story.? The import of the previous
analyses is not to prove that market power has been exercised in the
California electricity market but, rather, to suggest that it might be
important.? The import of the sensitivity analysis here is not to prove that
market power has not been exercised in the electricity market? but, rather,
to suggest that it is unlikely to be the dominant factor and may not even be
significant.? With the available data in the public domain, and the special
complications introduced by the California market design, the margin of error
in estimating the extent of the possible exercise of market power through
strategic withholding of electric generation is of the same order of
magnitude as the effect being measured.? On balance, to date the publicly
available data provides no reason for the Federal Energy Regulatory
Commission to change its conclusion that there is no evidence of strategic
withholding nor any proof that no strategic withholding has occurred.

By contrast, there is general agreement that the California electricity
market design is &seriously flawed.8? Furthermore, there is evidence that the
policy responses that have been adopted in California have accelerated an
already serious market collapse.? Hence, without dismissing the possibility
of the exercise of market power, the principal policy focus should be on
fashioning workable solutions for the other more serious problems in market
design that relate to the underlying causes of the market meltdown.

Separate from market power mitigation, California should pay its bills, raise
incremental prices to retail customers, and move as quickly as possible to
operating a coordinated and efficient market with consistent pricing for all
that includes unit commitment, day-ahead scheduling, and real-time
balancing.? Although not a panacea, these steps would address immediate
problems and set the stage for longer-term initiatives to expand generation
capacity, transmission infrastructure, and the reach of an efficient market
to the western interconnected grid.

William W. Hogan
John F. Kennedy School of Government
Harvard University
79 John F. Kennedy Street
Cambridge, MA 02138
617-495-1317 (o)
617-495-1635 (f)
william_hogan@harvard.edu
web page: www.whogan.com
or
http://ksgwww.harvard.edu/people/whogan


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 01/30/2001
05:48 PM ---------------------------

	From:  Jason Sokolov                           01/30/2001 02:26 PM

To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: CalPX prices

---------------------- Forwarded by Jason Sokolov/HOU/ECT on 01/30/2001 02:29
PM ---------------------------

	Enron North America Corp.

	From:  Maria Van Houten                           01/30/2001 12:05 PM

To: Jason Sokolov/HOU/ECT@ECT
cc:
Subject: Attached file

Hi Jason,
Here's the file.

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

Hi Jason,
I've attached an excel file with both sets of prices.  However, the HA Zone
Price data set appears to be incomplete.  I'm currently looking to complete
this set and will get back to you shortly on it's progress.  If you prefer
the data in a different format please let me know.
Thanks,
Maria V.H.

To: Maria Van Houten/PDX/ECT@ECT
cc:
Subject: Re: CalPX power prices

Maria,

Is it possible to get both sets of prices?
We will need to go back as far as we can.

Thanks.
Jason Sokolov

	Enron North America Corp.

	From:  Maria Van Houten                           01/29/2001 11:35 AM

To: Jason Sokolov/HOU/ECT@ECT
cc:
Subject: Re: CalPX power prices

Jason,

Are you looking for CalPX hour ahead UMCP or CalPX hour ahead zone prices?
We have hour ahead zone price data from 10/1/98 - current and hour ahead UMCP
from 11/6/2000 onward.
Maria V.H.

	From:  Jason Sokolov                           01/26/2001 09:17 AM

To: Maria Van Houten/PDX/ECT@ECT
cc:
Subject: CalPX power prices

Maria,

I am looking for historical hourly real-time (spot) power prices for CalPX.
Can you help me to locate them?

Jason Sokolov


---------------------- Forwarded by Mark Taylor/HOU/ECT on 01/11/2000 01:46
PM ---------------------------

"Raspe, Adele M." <Adele.Raspe2@pseg.com> on 01/11/2000 09:51:28 AM
To: Mark Taylor/HOU/ECT@ECT
cc: "Foose, Jeffrey J." <Jeffrey.Foose@pseg.com>, "Hancock, Marcus R."
<Marcus.Hancock@pseg.com>
Subject: RE: electronic trading agmt.

Mark,
 Please go ahead and have this Letter Agreement executed as revised and send
it to my attention.  I have instructed the traders concerned to execute the
password agreement. Thank you.
Adele

-----Original Message-----
From: Mark Taylor [mailto:mtaylo1@ect.enron.com]
Sent: Tuesday, January 11, 2000 10:40 AM
To: adele.raspe2@pseg.com
Subject: Re: electronic trading agmt.

---------------------- Forwarded by Mark Taylor/HOU/ECT on 01/11/2000 09:38
AM
---------------------------

To:   "Raspe, Adele M." <Adele.Raspe2@pseg.com>
cc:
Subject:  Re: electronic trading agmt.  (Document link: Mark Taylor)

Adele,

Here is a revised version.  Let me know what you think.

Mark

(See attached file: PSEG.doc)


Gentlemen,

I wanted to clarify the length of the outage that started today at the
Cleburne site.

The earliest the plant will be on-line is Wednesday morning. If anything is
found beyond a cracked transition piece or clogged fuel nozzle then it may
extend the outage a few days. As soon as I hear something I will let you know.

Michael


Send me your fax no.

Dan J Hyvl@ECT
04/12/2001 07:19 AM
To: Parking & Transportation/Corp/Enron@ENRON
cc:

Subject:  Enron Parking Receipt for January 2000

Who do I need to contact to get a copy of the parking receipt for January
2000?  The Aon Consulting statement indicates that I did not do a
reimbursement request for that month.  Can you direct me to the person who
could get me a copy of the January 2000 receipt.  Thank you.


Guys, here is the latest report. Let's get together after lunch if you guys have time.

Jerry


The impacts of IRAQ suspending oil shipments could affect markets as early as
mid-December.
---------------------- Forwarded by Lorna Brennan/ET&S/Enron on 11/29/2000
04:59 PM ---------------------------

webmaster@cera.com on 11/29/2000 04:29:14 PM
To: Lorna.Brennan@enron.com
cc:

Subject: Iraq's Antisanctions Campaign: Prospects and Implications - CERA
Decision Brief

**********************************************************************
CERA Decision Brief: Sent Wed, November 29, 2000
**********************************************************************

Title: Iraq's Antisanctions Campaign: Prospects and Implications
Author: Placke
E-Mail Category: Decision Brief
Product Line: World Oil ,
URL: http://www.cera.com/cfm/track/eprofile.cfm?u=5526&m=1429 ,

Alternative URL:
http://www.cera.com/client/wo/db/112900_16/wo_db_112900_16_ab.html
*********************************************************

The Iraqi regime,s campaign to neutralize and eliminate the UN sanctions that
have
constrained it for ten years is gathering momentum. Of immediate significance
is the
growing likelihood that the antisanctions campaign will again pit Iraq
against the UN
Security Council--this time in a struggle over the financial controls at the
heart of
the "oil for food" program, whose current phase expires December 5. Such a
struggle
could lead to suspension of Iraqi oil exports, perhaps for a few weeks, as has
previously occurred, but possibly for considerably longer. Should such a
scenario
unfold, the effect on a still tight and nervous oil market would be dramatic.

**end**

Follow URL for complete report.

*********************************************************
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Strategies and Risks for the Energy Future" in Houston, February 12-16,
2001!  For more information and to register, please visit
http://www.cera.com/ceraweek/
*********************************************************

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As Reves would say "Please disregard the past 90 seconds",

Please disregard the previous e-mail, the transactions were with San Diego
Gas & Electric,

Russell

---------------------- Forwarded by Russell Diamond/HOU/ECT on 12/12/2000
05:37 PM ---------------------------

From:  Russell Diamond
     12/12/2000 05:34 PM

To: Jeffrey T Hodge/HOU/ECT@ECT, William S Bradford/HOU/ECT@ECT
cc: Tracy Ngo/PDX/ECT@ECT, Bradley Diebner/HOU/ECT@ECT
Subject: PG&E WMBE Transaction

In addition to our direct exposure with PG&E Core, ENA has one outstanding
WMBE transaction with the counteraprty:

Nine Energy Services, LLC - Total Sale of 11,000 mmbtu ($238,000)

I have notified the trader and the WMBE Counterparty we can not do any
further business with PG&E under this process.

Russell


Hi Bob,

Is there a favorite go by for an interconnection agreement?  I have one on my
immediate to do list, and I want to point outside counsel in the right
direction.

Thanks,

Kay


Ditto Credit.

	Tana Jones@ECT
	04/02/2001 09:10 AM

		 To: Alan Aronowitz/HOU/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT, Marcus
Nettelton/NA/Enron@ENRON, Harry M Collins/HOU/ECT@ECT, David
Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt, Marie Heard/Enron
Communications@Enron Communications, Robbi Rossi/Enron Communications@Enron
Communications, John Viverito/Corp/Enron@Enron, Jane McBride/AP/Enron@Enron,
Andrea Calo/SA/Enron@Enron, Peter Keohane/CAL/ECT@ECT
		 cc:
		 Subject: EOL approvals, 03-30-01

----- Forwarded by Tana Jones/HOU/ECT on 04/02/2001 09:09 AM -----

	Walter Guidroz/ENRON@enronXgate
	03/30/2001 04:01 PM

		 To: Karen Lambert/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Samuel
Schott/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Brant Reves/ENRON@enronXgate,
Debbie R Brackett/HOU/ECT@ECT, David Hardy/LON/ECT@ECT, Lesli
Campbell/ENRON@enronXgate, Cynthia Clark/ENRON@enronXgate, Enron Europe
Global Contracts and Facilities@ENRON, Enron Europe Global
CounterParty/LON/ECT@ECT, Stephanie Sever/HOU/ECT@ECT, Tom
Moran/ENRON@enronXgate, Claudia Clark/HOU/ECT@ECT, William S
Bradford/ENRON@enronXgate, Lisa Lees/HOU/ECT@ECT, Juana
Fayett/Corp/Enron@Enron, Jana Morse/Corp/Enron@Enron, Trang Le/HOU/ECT@ECT,
Paul Maley/LON/ECT@ECT, Sonya Clarke/LON/ECT@ECT, Tim Davies/LON/ECT@ECT,
Karen O'Day/NA/Enron@Enron, Tanya Rohauer/ENRON@enronXgate, Kelly
Lombardi/NA/Enron@Enron, Brian Lindsay/Enron Communications@Enron
Communications, EOL Call Center@ENRON, Bernice Rodriguez/HOU/ECT@ECT, Bill D
Hare/HOU/ECT@ect, Amy Heffernan/Enron Communications@Enron Communications,
Molly LaFuze/Enron Communications@Enron Communications, Danny Clark/Enron
Communications@Enron Communications
		 cc:
		 Subject: EOL approvals, 03-30-01

Please see attached.


Congratulations.  It's always good to see another Chicagoan move forward.

We are in for an exciting time, and I'm proud to be part of this organization.
---------------------- Forwarded by Eric G Pitcher/HOU/EES on 12/13/2000
08:57 AM ---------------------------

Ken Lay@ENRON
12/13/2000 06:01 AM

Sent by: Enron Announcements@ENRON
To: All Enron Worldwide
cc:
Subject: Succession Plan

It is my great pleasure to announce that the Board has accepted my
recommendation to appoint Jeff Skilling as chief executive officer, effective
at the time of their next board meeting on February 12, 2001.  Jeff will also
retain his duties as president and chief operating officer.  I will continue
as chairman of the Board and will remain at Enron, working with Jeff on the
strategic direction of the company and our day-to-day global operations.

Jeff will assume the role at a time when the company is hitting on all
cylinders and is positioned for phenomenal growth.  He is clearly ready for
the job, and after 15 years as CEO of this great company, I,m ready for a
somewhat different role.

Our succession plan has been clear for some time.  This has afforded Jeff and
me the freedom to combine our strengths toward building a company that
continues to exceed everyone,s expectations, including our own.  We look
forward to furthering that relationship as Jeff expands his role.

There are no plans for any other changes in our management team nor broad
shifts in strategy and direction.

Please join me in congratulating Jeff.  I look forward to a great 2001.


Looks good to me.

	Sara Shackleton
	05/30/2000 08:13 AM

		 To: Mark Taylor/HOU/ECT@ECT, Carol St Clair/HOU/ECT@ECT, Susan
Bailey/HOU/ECT@ECT, Susan Flynn/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: vacation

All:   I would like to take the following dates if no conflicts:

(1)  Friday, June 30

(2)  week of July 24 - 28

Please let me know if there is a problem.  Sara


Bridgette,
 I am not crazy about the Columbia (Coastal) GISB, can you attach the El Paso
version for my review?

	Bridgette Anderson@ENRON
	02/21/2001 11:59 AM

		 To: Dan J Hyvl/HOU/ECT@ECT
		 cc:
		 Subject: Merger between Coastal Merchant Energy L.P. into El Paso Merchant
Energy, L.P.

Dan,

Effective 2/1/01 the above mentioned CP's merged to form El Paso Merchant
Energy, L.P.   Both CP's has an acceptable GISB.  Could you please look over
the GISB for Coastal  (attached) so that we can determine whether to
terminate this contract?  In case you wanted to view El Paso's GISB, I have
attached it also.

Thanks,
Bridgette


Here's the first one...

Thanks,

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 02/01/2001 12:28
PM ---------------------------

"Mark Bernstein" <delivertomark@hotmail.com> on 02/01/2001 08:30:37 AM
To: kay.mann@enron.com
cc:

Subject: coop city outline

Kay,

I don't have the "sent" e-mail, but here is my outline:

thank

ASSET MANAGEMENT
1. Every December 1 the benchmark is set for next year,s gas cost. The
benchmark is adjusted for basis and transport.
2. The benchmark for gas purchases will be adjusted for a gas load factor to
account for the non-block nature of gas consumption.
3. Enron will serve full requirements power and steam at the benchmark cost.
4. If unit 1 is down, Enron will serve Co-op City based on prevailing gas
market price.
5. If Enron does nothing but serve power and steam from the project, actual
cost will equal benchmark cost and Enron earns nothing.
6. If Enron can shut down the generators and buy power cheaper from the
market than it could generate and sell the gas for a profit, the net reduces
the average cost of gas.
7. Enron is only incentivized to buy gas and sell power or buy power and sell
gas if there is a net benefit to Co-op City
8. A Co-op City book will be kept and audited to keep track of the gas and
power purchases and sales to calculate the asset management performance.
DEVELOPMENT RISK CAPITAL
1. Enron will commit development risk capital for:
Permit preparation and application
Preliminary engineering
Site due diligence
Securing turbines
1. Need to negotiate terms for development agreement
ENGINEERING, PROCUREMENT AND CONSTRUCTION
1. Enron will perform EPC services at cost plus up to an estimate. The plus
however, is not at risk.
2. The EPC contract must be executed after the asset management agreement so
that there is no appearance of consideration between the two agreements.
3. Commercial operations date will float relative to the issuance of permits.
OPERATIONS
1. Enron will dispatch the plant and procure gas and power so as to maximize
plant efficiency and economics per the asset management agreement.
MAINTENANCE
1. Enron will act as agent on behalf of Co-op City to negotiate a long term
maintenance agreement, with a third party, subject to Co-op City,s approval.
2. Enron will manage the maintenance contract and coordinate planned outages
so as to maximize project value under the asset management agreement.

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


Leslie said that she will call you re: City of Roseville (and Puget Sound as
well).

----- Forwarded by Shari Stack/HOU/ECT on 09/11/2000 11:31 AM -----

	Shari Stack
	09/11/2000 09:27 AM

		 To: Tana Jones/HOU/ECT@ECT
		 cc: Rhonda L Denton/HOU/ECT@ECT, Leslie Hansen/HOU/ECT@ECT
		 Subject: Re: EOL Credit Responses 09/06/00

Tana:

The following CP's are not authorized to trade US Power Products:

Willowbridge Associates: Declined by Credit
City of Roseville: Need to speak with Elizabeth/Leslie  - will get back to
you on them today.
Coastal Field Services Restricted by Credit
Mississippi Chemical Corporation - Restricted by Credit

Thanks,

Shari


I tried calling you to confirm we are all square on the webtext for Northern
but can't track down your ph. number.  Please call me if there are any
problems or concerns.  Thanks for the help.  DF  402-389-7449


Mitch:
More questions on Lincoln.  These guys are only looking at Lincoln, so all of
these should be just Lincoln questions.  Thanks again!
Ben
---------------------- Forwarded by Benjamin Rogers/HOU/ECT on 10/24/2000
11:20 AM ---------------------------

"Michael P Cazaubon" <michael.cazaubon@exeloncorp.com> on 10/24/2000 11:06:42
AM
To: benjamin.rogers@enron.com
cc: "David L Stewart" <david.stewart@exeloncorp.com>
Subject: More Lincoln Questions

Ben,

Thanks for the response on the first set of questions on Lincoln.  Attached
are some additional ones that we would appreciate your help on

Thanks!
Mike Cazaubon

(See attached file: Exelon Lincoln Q&A 10-24-00.doc)

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This e-mail and any of its attachments may contain Exelon Corporation
proprietary information, which is privileged, confidential, or subject
to copyright belonging to the Exelon Corporation family of Companies.  This
e-mail is intended solely for the use of the individual or entity to
which it is addressed.  If you are not the intended recipient of this
e-mail, you are hereby notified that any dissemination, distribution,
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 - Exelon Lincoln Q&A 10-24-00.doc


Start Date: 4/26/01; HourAhead hour: 2;  No ancillary schedules awarded.
Variances detected.
Variances detected in SC Trades schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001042602.txt

Error retrieving HourAhead price data - process continuing...
---- SC Trades Schedule ----
$$$ Variance found in table tblInt_Interchange.
     Details: (Hour: 2 / Preferred: 114.00 / Final: 113.97)
  TRANS_TYPE: FINAL
  SC_ID: EPMI
  MKT_TYPE: 2
  TRANS_DATE: 4/26/01
  TRADING_SC: PWRX
  PNT_OF_INTRC: SP15
  SCHED_TYPE: ENGY
  PURCH_SALE: 2
  DEAL_NO: 1


....This just in....

Here are our updated imbalances per contract & total:

 Historical Current Mth Cumul.
201K: (12.807)  (8.181)  (20.988)
202K: (13.951)  7.879  (6.072)
203K: (6.152)  (267)  (6.419)
204K: 27.392  (6.306)  21.088

Total: (5.516)  (6.875)  (12.391)
     Due Oasis