Rod:

We are looking at doing a June physical index power purchase today with
Kaiser. however, Kaiser only wants to proceed if we can assure them that we
can add electricity to the existing ISDA between Enron and Kaiser such that
they could fix the price during the month of June. After reading your comment
below about netting it appears that a longer term transaction would not be
advisable until further legal clarification occurs. Is there any reason we
can't or shouldn't pursue adding electricity to the ISDA provided we only do
one month transactions (assuming we see no risk of near term bankrupcty)?
Please advise immediately.

 -----Original Message-----
From:  Nelson, Roderick
Sent: Friday, May 25, 2001 2:53 AM
To: Ngo, Tracy
Cc: St Clair, Carol; Shackleton, Sara; Pitt, Michael; Boyd, Justin; Evans,
Mark; Wolfe, Greg
Subject: RE: Kaiser Aluminum & Chemical Corporation - UK and US swaps

Tracy,

Did you have a chance to read my email response earlier this week?  I believe
that it is highly unlikely that we will be able to net exposures across
non-defaulting (Enron) entities.  Paul Simons can (and maybe has by now)
given opinion to this idea.  Historically, I believe the opinion has long
been that such netting (set-off against affiliates of non-defaulting party)
in the US should work within the case of contractual default, but outside of
bankruptcy.  However, in the special case of legal bankruptcy, such netting
(though contractually agreed by the parties) may be challenged.  Introducing
the fact that one of Enron's entities is a UK entity may further cloud the
likelihood.  Clearly, if the relationship involves more than on Kaiser
entity, netting almost certainly will not work.

Has Diana not responded to your credit exposure questions regarding the form
of governing confirmation and legal entity?  I believe that she is in the US,
but should be checking in.  Perhaps you should try calling her?  I think we
will find that the transacting entity is a subsidiary of Kaiser Aluminum.

Risk management systems for metals are still not ideal.  Volumetric/CVAR type
analysis may not yield such reliable results.

Rod

 -----Original Message-----
From:  Ngo, Tracy
Sent: 24 May 2001 22:15
To: Nelson, Roderick
Cc: St Clair, Carol; Shackleton, Sara; Pitt, Michael; Boyd, Justin; Evans,
Mark; Wolfe, Greg
Subject: Kaiser Aluminum & Chemical Corporation - UK and US swaps
Importance: High

Rod,

Enron North America is looking to enter into power swaps with Kaiser Aluminum
& Chemical Corporation starting June 2001.  I'm seeing in the credit system
that MG plc has forward financial metals positions with Kaiser, however I
need clarification on whether the swaps are done with Kaiser Aluminum &
Chemical Corporation or Kaiser Aluminum International Inc.  Secondly, is
there a Master ISDA Agreement governing those swaps?  In pulling the mtm
monthly breakout, it appears that MG plc is OTM north of $10MM US and the
liquidation of that portfolio occurs mostly in cal '02.

Given Kaiser's limited credit line, I'd like to look into the potential of
setting off financial exposures in the UK and US in cases of default.  Kaiser
is looking at other businesses with Enron and this could be quite fruitful to
tap into in order to increase trading liquidity going forward.

In summary, we need to answer at minimum the following:
? confirmation of which Kaiser entity is financial transacting with MG plc
? volatility of the metal positions that go out to Jan '04 to ensure how
quickly this out-of-the-money position can move
? what type of paper is confirming the swaps (whether long-form confirms or
Master ISDA)
? what credit/legal terms and laws may affect our efforts to establish a
Netting Agreement for UK and US financial

Can you help me in coordinating a meeting with London legal/credit and
Portland credit/Houston legal to discuss pertinent issues associated with a
Netting Agreement between Kaiser (single entity or multiple entities) and
Enron entities (MG plc and ENA) as soon as possible.  Please let me know your
thoughts to the above and who we need to contact to get the above points
addressed.  In Houston legal, Carol St. Clair is available to work on the
drafting of such a Netting Agreement and is speaking with Sara Shackleton
about the concept as well.

Please let me know as soon as possible your comments to the above and in
setting up a conference call to push this forward.

Thanks,
Tracy


Will do.  Thanks very much to you both.

Best,
Jeff

	Joan Stransky
	03/20/2001 05:18 PM

		 To: Jeff Dasovich/NA/Enron@Enron
		 cc:
		 Subject: Registering for CERA

Jeff, I am attaching instructions to enter.  It is better if you do it
yourself.  Let me know if it does not go thru.


Hi Norma,

 Sevil's primary project has been the Generation Bidding Analysis for the
East Power Desk.  She worked closely with the Power Fundamentals group and
the IT group in collecting and organizing the data, and then developing the
analysis.  Sha has focused on the PJM area and plans to expand the analysis
to other regions in the East.
 Sevil has also investigated the issue of Risk Premia in Power Prices
compared to Marginal Cost.

Vasant


We can probably just wait until the morning of to register you, and see how
you're feeling then....

At 05:14 PM 11/28/2000 -0600, you wrote:

Actually, if you don't expect me to keep up with you the whole 8K's, I
could probably muster up the energy.? Besides, I'm planning on sleeping the
entire way out there so I'll end up getting more sleep that night than
normal.? Do I need to do anything to sign up for the run?

?????????????????????????????????????????????????????
?(Embedded???? Enron Capital & Trade Resources Corp.?
?image moved?????????????????????????????????????????
?to file:???? From:? Julie Gibson???????????????????
?pic13290.pcx) <julieg@qualcomm.com>?????????????????
?????????????? 11/28/2000 05:06 PM???????????????????
?????????????????????????????????????????????????????
?????????????????????????????????????????????????????
?????????????????????????????????????????????????????

To:?? Susan.M.Scott@enron.com
cc:
Subject:? Re: We have a go....

any chance you'd be up for an 8K run on saturday?? only problem is that it
starts at 8:00am- too painful after your late night?? no obligation.....

At 01:37 PM 11/28/2000 -0600, you wrote:

Okay...My itinerary is as follows:? Arriving in San Diego 2:20 am Friday
night (I'll need your new address for the cab) and departing Sunday at 6:15
pm.? If you just want to leave the key under the mat that would be perfect
for me...I'll probably crash immediately anyway.? I am so excited to be
coming out there - -? I really need a break from Houston...not to mention
work.? The Gas Lamp district Saturday night sounds like fun and I would
love to meet your friends.? Also, please don't feel like you have to plan
the whole weekend, I have no problem going with the flow.

See you in a couple of weeks,
Susan


Mr.  Drexelius,

	Per Barry Tycholiz request, attached is the letter agreement for assignment and payment for the Kern River Capacity.  Please execute immediately and fax to my attention at (713) 646-3490.  Upon receipt I will forward to Barry for decision to execute or not by 1:00 pm.  Thank You for your prompt attention to this matter.


Do we have an invoice from CGAS of Ohio?  I would like to see it if we do.  I
don't show any record of a deal like this.  I'm going to send an email to my
CES contact to see if he shows anything in his notes about this.
---------------------- Forwarded by Chris Germany/HOU/ECT on 03/13/2000 09:58
AM ---------------------------

Robert Allwein
03/13/2000 08:22 AM
To: Victor Lamadrid/HOU/ECT@ECT
cc: Sandra Dial/HOU/ECT@ECT, Chris Germany/HOU/ECT@ECT
Subject: Re: Columbia Gas of Ohio on CGAS for Jan 00

Sandra, I just have to get with Chris Germany to see if he can confirm this
deal. I will keep you posted. Thanks, Rob

Chris, Deal # 153683, Please take a look at this and see if you can confirm
that this was Buy/Sell or incremental. CES or EES? I have a supply but no
market. Thanks

Victor Lamadrid
03/10/2000 03:21 PM
To: Sandra Dial/HOU/ECT@ECT
cc: Robert Allwein/HOU/ECT@ECT, Chris Germany/HOU/ECT@ECT
Subject: Re: Columbia Gas of Ohio on CGAS for Jan 00

Most likely this is an offset to our term sale to CES on CGAS. Chris prepares
CES invoices.  I don't know if he is aware of this. Most likely, there is an
offsetting sale that is not in or we need to back off an existing path and
replace with this purchase.

Sandra Dial
03/10/2000 01:33 PM
To: Stephanie Sever/HOU/ECT@ECT
cc: Robert Allwein/HOU/ECT@ECT, Mark Feldman/HOU/ECT@ECT, Victor
Lamadrid/HOU/ECT@ECT
Subject: Re: Columbia Gas of Ohio on CGAS for Jan 00

Stephanie,
Can you change the year from 2001 to 2000 on the deal, please.
Columbia Gas of Ohio, sitara #153863, purchase.

Mark, If you happen to have any info on who Enron sold the gas to (since
we're buying from Col Gas of OH), let  Robert know--meanwhile he's checking
with Robin and Chris on his end so he can path it.

Vic--this is only FYI. Robert's taking the lead on finding out the info he
needs to get this pathed in the system.

Thanks all.

Sandra
x5-7213

---------------------- Forwarded by Sandra Dial/HOU/ECT on 03/10/2000 01:25
PM ---------------------------

Robert Allwein
03/10/2000 10:25 AM
To: Sandra Dial/HOU/ECT@ECT
cc:
Subject: Re: Columbia Gas of Ohio on CGAS for Jan 00

The deal ticket has 2001 on it not 2000. Can you find out who they sold the
gas to. Do you need this pathed and tracked and balanced? - Rob

Sandra Dial
03/10/2000 09:54 AM
To: Robert Allwein/HOU/ECT@ECT, Victor Lamadrid/HOU/ECT@ECT
cc:
Subject: Columbia Gas of Ohio on CGAS for Jan 00

Robert/Victor,

Can one of you check into this for me, please (you may also be getting a call
from Mark Feldman from Volume)...

Columbia Gas of Ohio, sitara #153863, flow date 1/21/00, 3,575 mm's. The deal
is in sitara; however, I do not see anything nommed, etc in Unify (like the
deal doesn't exist). Can you check on your end to see if there was some sort
of glitch/error. According to Dick Jenkins, he agrees with the counterparty.
Let me know what you find/fix so I can redraft and pay them. Could it be
booked under another pipe? Call me later. Thanks.

S
x5-7213


Looks like we are making progress!!!

 -----Original Message-----
From: 	Lavorato, John
Sent:	Tuesday, May 29, 2001 8:43 AM
To:	Allen, Phillip K.; Arnold, John; Aucoin, Berney C.; Bentley, Corry; Coulter, Kayne; Davis, Mark Dana; Gaskill, Chris; Gilbert-smith, Doug; Gossett, Jeffrey C.; Grigsby, Mike; Herndon, Rogers; Kitchen, Louise; Lavorato, John; Martin, Thomas A.; McMichael Jr., Ed; Neal, Scott; Presto, Kevin M.; Schwieger, Jim; Shively, Hunter S.; Sturm, Fletcher J.; Superty, Robert; Thomas, Martin; White, Stacey; Will, Lloyd
Cc:	Buckley, Karen
Subject:

On Wednesday we will be having a mini Trading Track interview session.  The quality may not resemble the first session we had but I thought it would be worth it if we can find a couple more folks to put in the program.  We will probably have a much bigger one later in the year after the new analysts and associates join.  I had a couple of observations from last time.

1.  I think we were too hard on external candidates.  There are 5 or 6 external candidates.  Remember that they don't have the Enron grounding that the internal candidates have.  Most of them are not in the Gas or Electricity industry.  Try to evaluate them on their intrinsic qualities.

2.  Some people have not thought about trading concepts and are unfamiliar with trading lingo.  That doesn't mean that they will not be good traders one day. I think we were a little biased based on someones ability to run a stack tommorrow.

Regards

John


I've killed the Cal-Imbalance deal I entered under Short Term West BOM for 5/14 - 609174 - as well as the inter-desk swap between STCA and West BOM - 609240.

I double-checked Real Time Position Manager and the Forward Obligations report for this day, and all looks fine. I'll keep my fingers crossed that it remains that way until tomorrow morning.

Please let me know if you have questions.

Kate


Hill,

Yes, I think it can be done. I am in London
right now and I shall come back next week Thursday.

Please, give me call about it.

Vince

Vincent Kaminski
Managing Director - Research
Enron Corp.
1400 Smith Street
Room EB1962
Houston, TX 77002-7361

Phone: (713) 853 3848
 (713) 410 5396 (cell)
Fax  :  (713) 646 2503
E-mail: vkamins@enron.com

Hill Huntington <hillh@stanford.edu> on 03/22/2001 04:47:33 PM
To: vince kaminsky <vkamins@enron.com>
cc:
Subject: RTP conference

Vince,

Sounds like there are several Enron people very interested in our
seminar.  Many thanks for passing the idea around.

Do you think that these groups might provide some sponsorship?  I didn't
know whether you have already asked them and they are thinking about it or
whether I need to approach them directly.  I would appreciate any
suggestions you have.

Regards,
Hill

*******************************************************************
Hillard G. Huntington
EMF - an international forum on
energy and environmental markets Voice:  (650) 723-1050
408 Terman Center    Fax:    (650) 725-5362
Stanford University   Email:  hillh@stanford.edu
Stanford, CA  94305-4026

EMF Website: http://www.stanford.edu/group/EMF/


F.Y.I.

  Business; Financial Desk
  Sempra Still Feeling the Heat Energy: The parent firm of 2 Southern
California
  utilities is weathering criticism from all sides, with more flare-ups on
the horizon.
  NANCY RIVERA BROOKS

  09/17/2000
  Los Angeles Times
  Home Edition
  Page C-1
  Copyright 2000 / The Times Mirror Company

  Sempra Energy just can't seem to get out of the hot seat.

  First there was the controversial 1998 merger between the parents of San
Diego Gas &
  Electric and Southern California Gas, which created the Sempra Energy
holding company
  and gave it more customers--21 million--than any other utility company in
the nation.

  Now, although the calendar says autumn is less than a week away, warm
weather still has
  Sempra sweating through a summer of electricity discontent. And winter
doesn't look like
  much fun either for Sempra or its natural-gas customers, with residential
gas bills projected
  to increase 30% to 35% without fueling anything above a strictly regulated
rate of return for
  Sempra's gas utilities.

  Hanging over the San Diego-based energy company is a new uncertainty
generated by the
  turmoil in California's restructuring electricity industry. Of particular
concern to the
  investment community is a rapidly swelling debt caused by the difference
between the high
  wholesale cost of electricity and the freshly capped retail power rates for
the 1.2 million
  customers of San Diego Gas & Electric.

  Who will pay that debt--Sempra Energy's shareholders or SDG&E's electricity
  customers--and how big it will grow may not be known for years. The answer
will hinge in
  part on an investigation of SDG&E's conduct by the California Public
Utilities Commission.

  In the meantime, Sempra Energy, whose two utilities serve nearly 7 million
gas and
  electricity meters representing about 21 million customers from Central
California to the
  Mexican border, continues to post sparkling earnings largely because of its
non-utility
  businesses. Sempra wants to be much more than its utilities, pushing into
energy trading
  and electricity and natural-gas contracting outside of California.

  Indeed, Sempra has stressed that recent profit surges came not at the
expense of its
  California utility customers. Consumer advocates are not persuaded,
painting Sempra as a
  profit-hungry company that has not done enough to protect ratepayers.

  Despite all the tumult, Sempra's previously languid stock price has risen a
bit this summer,
  a fact that appears to amaze even Stephen L. Baum, Sempra's new chairman
and chief
  executive.

  "Maybe it's all the publicity we've been getting," he recently quipped,
ruefully.

  It's a careful-what-you-wish-for proposition for Sempra Energy, which spent
hundreds of
  thousands of dollars in the last two years to boost its corporate profile
by, among other
  things, becoming a sponsor of Staples Center and rolling out a new logo
that looks like a
  small flaming man. Now the corporation and its San Diego utility are
puzzling over how to
  repair an image so scorched that angry residents in SDG&E's
4,200-square-mile territory
  covering the San Diego area and southern Orange County have taken to
verbally and
  physically abusing company employees.

  "This has been an agonizing time for all of us," Baum told the Federal
Energy Regulatory
  Commission at a hearing Tuesday that is part of an investigation into this
summer's
  gyrations in the California wholesale electricity market. "SDG&E takes
enormous pride in
  serving this community with safe and reliable electric service at, what
were until recently,
  just and reasonable prices."

  Although regulators themselves, not to mention consumer advocates, warned
of looming
  shortages in power supplies, no one predicted this summer of sky-high
prices during which
  wholesale electricity prices jumped fivefold and bills doubled for SDG&E
customers, the
  first in the country to pay free-market power prices.

  That produced a "Ratepayer Rebillion"--so dubbed by Michael Shames,
executive director
  of the San Diego-based Utility Consumers Action Network, a longtime SDG&E
sparring
  partner. The shock waves quickly reached utility regulators and state
lawmakers, the
  architects of electricity deregulation , who are still scrambling for
solutions.

  "SDG&E has become the corporate equivalent of the gang that couldn't shoot
straight,"
  Shames said. "They have the distinction of having the market blow up on
them in a very
  visible way . . . and I'm quite convinced they didn't have a clue how
customers were going
  to respond."

  This high-voltage atmosphere visited the San Diego area because SDG&E did
such a good
  job selling its power plants, as required under deregulation . The 1996 law
that launched
  the overhaul of California's electricity world broke the industry into
three separate
  businesses: companies that make electricity, companies that distribute
electricity and
  companies that sell electricity directly to consumers and businesses.

  SDG&E and the state's other big investor-owned utilities--Edison
International unit Southern
  California Edison and PG&E Corp.'s Pacific Gas & Electric--lost their
secure monopoly
  status. They were deemed to be electricity distribution companies
only--though still
  monopolies in that segment of the business.

  The utilities handed over their long-distance transmission systems to a new
nonprofit, the
  California Independent System Operator, and were required to buy their
electricity from
  another new nonprofit, the California Power Exchange. The utilities
remained the default
  provider for customers who didn't pick a new electricity retailer, but they
were required to
  pass along the cost of electricity with no markup.

  Electricity rates for consumers and small businesses were frozen until the
utilities paid off
  their "stranded assets"--investments in nuclear power and renewable energy
contracts that
  became unprofitable under deregulation --or until March 2002. Rates are
still frozen for
  SCE and PG&E customers, but SDG&E customers lost that protection in July
1999, after
  the San Diego utility sold its power plants to eager buyers who were
willing to pay much
  more than book value.

  The rapid payoff surprised even regulators, who had developed no
post-freeze rules. The
  California Public Utilities Commission allowed SDG&E to maintain a 12%
ceiling on prices
  for the summer of 1999 and recoup any excess electricity costs later.
Thanks to a cool
  summer and a smoothly functioning wholesale market, the ceiling was little
employed.

  This summer, however, no ceiling was allowed by the PUC as part of its
original post-freeze
  order, SDG&E executives said. And prices on the California Power Exchange
began
  behaving strangely, spiking higher and higher even in the middle of the
night when demand
  was low.

  San Diego-area electricity users began seeing "true market prices from a
market that's
  dysfunctional," Baum said. "Of course I wish we had foreseen this market
spike. We
  didn't."

  Consumer fury has been calmed somewhat by a new law that caps electricity
prices for
  SDG&E residential and small-business customers at 6.5 cents a
kilowatt-hour, compared
  with the 21.5-cent peak this summer. Who will eventually pay the
electricity costs above
  the cap, currently collecting in a balancing account, is left unclear by
the legislation.

  It could mean a big balloon payment for customers, or some of the costs
could be shared
  by SDG&E if a PUC investigation finds that the utility didn't act in the
best interests of its
  customers in buying electricity. A companion bill that would use $150
million in taxpayer
  funds to defray some of the costs passed the Legislature but has not been
signed by Gov.
  Gray Davis.

  "I don't think that we did anything wrong," Baum said. "This is a bum rap
that has been
  hung on us, on SDG&E, that we somehow mismanaged the power supply for our
  customers."

  PUC officials and consumer advocates have criticized SDG&E for not
"hedging" more by
  buying ahead of time when prices are relatively low, for example. SDG&E
said that it asked
  the commission for such authority but didn't get it. What's more, Baum
said, SDG&E found
  better prices for its customers than did SCE or PG&E, even though they have
broader
  hedging ability.

  SDG&E will have to borrow money to pay for the electricity, since
ratepayers aren't paying
  the full cost. SDG&E says the under-collection of electricity costs could
eventually top
  $800 million, whereas sponsors of the rate-cap bill put the total closer to
$150 million.

  The future debt and the unsettled state of the deregulation process in
California were the
  reasons given when Moody's Investors Service recently changed the credit
outlook for
  Sempra and SDG&E to "negative."

  Shareholders can't be happy with Sempra's stock price, which fell from a
high of about $28
  a share right after the 1998 merger between Enova and Pacific Enterprises,
which was
  loudly opposed by consumer advocates because of the market clout a merged
company
  would wield, to a low of $16.63 in April. Sempra bought back 36.1 million
shares at $20
  each in February and lowered the stock dividend to $1 a share from $1.56 a
share. The
  stock closed Friday up 14 cents at $20.14 on the New York Stock Exchange.

  Baum acknowledged that the company has lagged in return to shareholders,
blaming that
  partly on a turning away by investors from utilities and other old-economy
companies to
  Internet and other new-economy stocks.

  Sempra wants to be much more than its utilities and has made some promising
inroads
  into unregulated areas, such as energy commodity trading,
telecommunications,
  power-plant building and the sale of electricity and natural-gas to
consumers and
  businesses in other states, Mexico, South America and Canada, analysts said.

  In fact, Sempra Energy Trading, which buys and sells electricity, natural
gas, oil and coal,
  earned more money in the first quarter--$3 million--than in all of 1999.
That subsidiary's $40
  million in second-quarter earnings was primarily responsible for Sempra's
  better-than-expected income for the period of $110 million, or 55 cents a
diluted share, up
  34% from the second quarter of last year.

  Analyst Paul Fremont of Jefferies & Co., who has a "buy" rating on Sempra,
notes that the
  trading company income will be volatile and that the other subsidiaries
remain unknown
  quantities.

  "They've really got to have sustained growth in that [unregulated] part of
the business
  because there's not a lot of growth in the utility part" in California,
Fremont said.

  Sempra's earnings growth during this electricity furor has consumer
advocates fuming even
  though company executives emphasized that electricity trading gains came
from the East,
  not California.

  "Consumers don't need to feel sorry for this company," said Mindy Spatt,
spokeswoman for
  the Utility Reform Network, also known as TURN, a San Francisco-based
consumer group.
  Spatt noted that Sempra's new El Dorado power plant near Las Vegas "did
very well"
  selling electricity in Nevada and California during most of the second
quarter.

  "We don't think consumers should be responsible for the failures of
deregulation , and we
  think that Sempra is in a much better position to pay for some of these
costs than the
  average San Diegan," Spatt said.

  Sempra has had some problems in reaching beyond its California utility
origins. One
  subsidiary, Energy America, which sells electricity and natural gas door to
door in six
  Eastern states, has run afoul of regulators in two states because of
aggressive sales
  tactics that prompted complaints from consumers. The company has been
variously fined
  and ordered to retrain salespeople.

  Sempra is on track to reach its goal of reaping one-third of its earnings
from its
  non-California businesses by the end of 2003 and to increase overall
earnings by 8% to
  10% compounded annually in the next four years, Baum said.

  That success is whipping up customer ire.

  "People tend to look at Sempra-SDG&E as a monolith. . . . People are
saying, 'They're
  making a ton of money here. That company is doing very well. We're getting
screwed, and
  we don't like it, and why should we have to pay for it?' " Baum said. "It's
a very natural
  reaction. People don't understand, and they don't care to understand."

  One of SDG&E's immediate concerns is fixing relations with its customers.
Baum said the
  utility recently polled customers and found that 9% considered it credible,
down from 35%
  ("which is not much to brag about, but it's not bad in the utility
business") before the
  electricity crisis.

  "I don't know that a corporation can do very well with a credibility rating
of 9% on a
  sustained basis. That is something I worry about," Baum said.

  SDG&E President Debra L. Reed said most customers don't understand that the
  investor-owned utilities are now only distribution companies, despite a
$90-million education
  campaign by the Public Utilities Commission.

  "They see our name on the bill and they think we're making money on the
commodity,"
  Reed said. "We have a lot of education to do with our customers. But we
realize that it is
  probably not the best time to educate them in the middle of what they see
as a crisis. . . .
  What we're trying to do is help them through this."

  (BEGIN TEXT OF INFOBOX / INFOGRAPHIC)

  Metering Sempra Energy

  Earnings are up at Sempra Energy, but the San Diego company is spiking on
the
  controversy meter because of soaring bills for customers of its utilities,
San Diego Gas &
  Electric and Southern California Gas. Sempra's name is not well-known, but
its utilities
  serve 21 million people from the Central Valley to the Mexican border.

  (BEGIN TEXT OF INFOBOX / INFOGRAPHIC)

  Branching Out

  Sempra Energy also is pushing into other businesses, primarily outside of
California:

  Sempra Energy Trading: Trades energy commodities

  Sempra Energy International: Develops and operates energy projects such as
power plants
  and natural gas lines in international markets

  Sempra Energy Solutions: Markets electricity, natural gas and energy
services to large
  electricity users

  Sempra Energy Resources: Develops or buys power plants and natural gas
facilities in the
  United States

  Sempra Communications: Invests in telecommunications

  Sempra Energy Financial: Invests in affordable housing partnerships

  Source: Company reports

  PHOTO: Sempra's San Diego headquarters; ; GRAPHIC: Metering Sempra Energy,
Los
  Angeles Times;

  Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.

  Financial
  Is Another Energy Crisis Ahead?; Winter Fuel Costs Will Rise; After That,
Nothing Is
  Certain
  Kenneth Bredemeier

  09/17/2000
  The Washington Post
  FINAL
  Page H01
  Copyright 2000, The Washington Post Co. All Rights Reserved

  This winter the mailman will be delivering markedly higher heating bills
throughout much of
  the country, including the Washington area.

  Those who use natural gas--the dominant heating fuel in the Washington area
and
  throughout the United States--face a 27 percent increase. Heating oil
customers,
  particularly in the Northeast where 35 percent of homeowners use the fuel
to warm their
  houses, may have to pay more than $2 a gallon--twice the current price--as
the days grow
  shorter and temperatures plunge.

  Motorists get hit in the wallet every time they pull into a service
station: They now typically
  pay more than $1.60 a gallon for gas, and the days of 90-cent-a-gallon
gas--yes, it was just
  last year--are but a distant memory. At least that's better than in
England, France and
  Belgium where motorists are waiting in long lines to buy $4-a-gallon gas,
only to find that
  some stations have run out.

  Is this the start of an energy crisis?

  Many energy analysts and government economists say not, that supplies of
various forms
  of energy will prove sufficient over the next few months, but that the
costs will continue to
  follow the law of supply and demand. When there's not an excess of a fuel
available--and
  numerous types of fuel reserves are quite low--consumers will likely think
the product costs
  too much, at least compared with the prices they've been accustomed to
paying.

  But as winter approaches, several loosely connected events that spanned the
globe over
  the past couple of years have heightened awareness of energy in our lives
and reminded us
  of a lesson learned in the 1970s: Energy prices can be volatile,
unpredictable and can
  reverberate throughout the economy.

  As Philip Verleger Jr., a partner with the Brattle Group, a Cambridge,
Mass., economic
  consulting firm, concluded, "Consumers will have to spend more on energy.
They will have
  less to spend on other things."

  On top of the triple-whammy of higher natural gas, heating oil and gasoline
prices,
  consumers are also vulnerable to the vagaries of the electricity market
because the industry
  has been in the midst of deregulation .

  While California and other states have struggled with power prices during
the adjustment to
  the new competitive environment, electric utilities locally have maintained
stability.
  Potomac Electric Power Co. says its 621,000 residential customers in the
District and
  suburban Maryland--about 15 percent to 20 percent of whom heat their homes
with
  electricity--will find their bills about 5.5 percent lower this winter,
assuming they use the
  same amount of electricity as last year. Across the Potomac River,Dominion
Virginia
  Power's customers in Northern Virginia are likely to see their bills stay
about the same.

  Much of the current energy pricing is out of consumers' hands, analysts
say, because the
  United States has chosen, to a large degree, to remain dependent on oil
pumped out of
  distant lands controlled by OPEC nations.

  The 11-member Organization of Petroleum Exporting Countries agreed last
weekend to
  increase its oil production by 800,000 barrels a day in hopes of pushing
the price down to
  $28 or so. Even so, oil prices hit a new 10-year high on Friday, closing at
$35.92 a barrel
  amid worries about tensions between Iraq and Kuwait. These are prices not
seen since the
  days of the military buildup before the Persian Gulf War in November 1990.

  Analysts say that 21 months ago, when oil was below $10 a barrel and
natural gas was at
  $2 per 1,000 cubic feet, drilling companies, many of which produce both
fuels, began to
  curtail their exploration as a result of dwindling revenue.

  The OPEC nations cut their production at the time to force prices
upward--and now they
  have more than tripled. Private exploration for more natural gas in the
United States, chiefly
  in the Gulf of Mexico and several southern and southwestern states, only
grew after drillers
  concluded that the demand was significant enough and they had sufficient
capital to look
  for more.

  Peggy Laramie, spokeswoman for the American Gas Association, the
natural-gas utilities'
  trade group, said the low price of gas at the time contributed to a feeling
by producers that
  there was plenty of supply, so they cut back on drilling for about nine
months, from August
  1998 to April 1999. Fewer than 400 rigs were drilling at the time, although
now that figure
  has topped 800.

  With little new natural gas exploration, the flow through the supply chain
slowed, of course,
  even as demand increased in the United States, Europe and Asia.

  The result was predictable: Higher natural-gas prices at the wellhead and,
over time, bigger
  bills for consumers. The $2 wellhead price has now risen to $5. Laramie
said the last time
  wellhead prices were this high was in 1985.

  As Verleger said, "Demand was growing. We didn't pick up the supply
and--whoops, there's
  a problem."

  In the Washington area, where perhaps 70 percent of all homeowners heat
with natural gas,
  Washington Gas Light Co. estimates that its residential customers will see
the typical
  monthly bill jump $26, to $112.50, in the November-to-April period, a 27
percent increase
  over last winter.

  Laramie said the gas utilities' trade group believes that with the renewed
exploration, natural
  gas prices "will be moderating by spring, but we don't want to
over-promise."

  The price of oil and its derivative products is expected to remain
volatile, depending on a
  host of factors, including demand by consuming nations, the severity of the
upcoming
  winter months after a string of three relatively mild winters, and how much
more oil OPEC
  nations might decide to produce if prices stay high.

  This mix of factors leaves the analysts, OPEC and government economists
using a lot of
  "ifs" and "buts" and "possibilities," but mentioning few certainties.

  OPEC President Ali Rodriguez predicted this past week that oil prices could
reach $40 a
  barrel this winter, even if only for a relatively short time.

  "Crude oil prices are very high and will remain very high throughout the
rest of the year,"
  said John Lichtblau, chairman of the Petroleum Industry Research
Foundation, which is
  funded by oil companies. In terms of gasoline, a shortage is unlikely, "but
prices will be
  high," he said. "It can go back to $1.40 a gallon because of more
production and lower
  crude prices. It won't start right now, maybe later this year or early next
year."

  But with heating oil, he said, an unusually cold winter in the Northeast
could bring about
  problems, given low inventories. "I don't see a shortage, but prices will
be very high."

  Verleger was less certain.

  "We do have a problem," he said. "I think we're going to see high prices
this winter for
  heating oil and natural gas. But I'm not certain about it. I'm not willing
to go out and say it's
  going to be awful."

  With oil prices at record levels, President Clinton last week came under
increasing
  pressure to tap the nation's Strategic Petroleum Reserve, nearly 570
million barrels of crude
  oil stashed at four sites in Louisiana and Texas.

  The reserve is intended for use in cases where the president determines
there is a national
  supply emergency. High prices alone do not qualify. The White House says
all options to
  combat the current low reserves of various fuels and high prices are under
consideration. In
  the past, however, the oil reserve has been tapped to combat mechanical
breakdowns in
  the oil industry's pipeline system or to trade lower-quality oil for a
better grade.

  "If the Strategic Petroleum Reserve is released, that would knock $15 a
barrel off the price,"
  Verleger said. "One piece of news like that and this [crude oil price] will
drop like a rock."

  At least for the winter months, electric utilities generally have found a
way around the high
  price of oil and natural gas that some of them must use during peak-demand
periods in the
  summer to generate electricity. They're able to focus their winter
generation on cheaper
  fuels--coal, nuclear and hydroelectric power.

  "That's cheaper fuel and fuel that's less subject to the volatility of the
world oil and world
  natural-gas markets," said Chuck Linderman, director of energy generation
and supply
  policy for the Edison trade group. "Generally we're in good shape on
supply."

  Contact: http://www.washingtonpost.com

  Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.


Start Date: 2/3/02; HourAhead hour: 4;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002020304.txt


Please review the attached response to the PSC for accuracy.  Let me know if
you have any issues.

----- Forwarded by Gerald Nemec/HOU/ECT on 03/21/2001 09:50 AM -----

	"Russell A. Badders" <rab@beggslane.com>
	03/21/2001 09:35 AM

		 To: <Gerald.Nemec@enron.com>
		 cc:
		 Subject: Staff Question re: 115/230

Please review the attached document.? Mr.  Bryant and possibly Tom on your
end may want to see this before it goes.? I  hope to transmit this to PSC
Staff Thursday March 21, 2001.?  Thanks
Russell
 - staffissue.doc.doc


Good afternoon Ms. Jones,

If you need to make the same request for multiple clients (Group/database
access), please list all of the clients in the Comments section.  Please
include the path to the database)s) if applicable.

Have a nice day,
Gary Sta. Maria

From: Tana Jones@ECT on 02/27/2001 03:29 PM
To: Enron Messaging Security/Corp/Enron@ENRON
cc:

Subject: Re: eRequests 20721 & 20740

How do I do more than one request at a time.  Can you call me a x33399?

	Enron Messaging Security@ENRON
	02/27/2001 01:12 PM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: Re: eRequests 20721 & 20740

Good afternoon,

Please submit an eRequest for the access request (all 5-7 people can be
placed on one request).

To view the Group members, please open the ECT Address book, click on Groups,
then double-click on the name of the group.  Please let us know if there are
any questions.

Have a nice day,
Gary Sta. Maria

From: Tana Jones@ECT on 02/27/2001 11:31 AM
To: Enron Messaging Security/Corp/Enron@ENRON
cc:

Subject: Re: eRequests 20721 & 20740

ECT HOU_LN1/ECT
Legal\new_swp.nsf

I will be having about 5-7 other people that I will need added to this
database.  Should I send these requests back directly to you, or do them
through the system as well?

Also, there are two ways of getting edit access through this database.  One
is for employees of Legal, who can then enter Legal comments, and the other
is for employees of Credit, who can then enter Credit comments.  Do you see
that choice?  Is there some way for me to verify which employees of Legal and
which employees of Credit have what access?  I know that some employees of
Credit have Legal access by mistake.  Can I get lists of the Legal and Credit
breakdowns?

	Enron Messaging Security@ENRON
	02/27/2001 11:17 AM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: eRequests 20721 & 20740

Good morning,

Please provide the path to the Financial Trading Agreement database.  The
information can be found by right-clicking on the database icon, then
selecting Database properties.  The Server and File name will be under the
Basic tab.

Have a nice day,
Gary Sta. Maria
Enron Messaging Security


The Index for a month shall be the arithmetic average of the high and low
prices per Short Ton for such calendar month
of 26 Lb. Semichemical Medium, stated in U.S. Dollars, delivered in the
Eastern U.S., published under the headings:
"Price Watch: Paperboard/Packaging: Grade: Corrugating medium (26-lb):
Semichemical, East" in the issue of Pulp &
Paper Week that reports prices effective for such calendar month.


These are the official post-id's from Dec 31st for all live deals. We didn't have a "performance" book until January.   I included Canada and EMW at the bottom if needed.

Kam

Bankruptcy book
1452831
1452832
1452833
1452834
1452835
1452843
1452839

 -----Original Message-----
From: 	Gossett, Jeffrey C.
Sent:	Tuesday, January 29, 2002 2:43 PM
To:	Keiser, Kam
Subject:	FW: risk books for December

Can you provide the following?

Thanks

 -----Original Message-----
From: 	Koerselman, Lisa
Sent:	Tuesday, January 29, 2002 2:24 PM
To:	Gossett, Jeffrey C.
Subject:	RE: risk books for December

List of the final Post ID for the Estate,Bankruptcy and Performing Post ID's for gas and Power.

 -----Original Message-----
From: 	Gossett, Jeffrey C.
Sent:	Tuesday, January 29, 2002 12:15 PM
To:	Koerselman, Lisa
Subject:	RE: risk books for December

What exactly do you need for Dec?

 -----Original Message-----
From: 	Koerselman, Lisa
Sent:	Tuesday, January 29, 2002 10:35 AM
To:	White, Stacey W.; Gossett, Jeffrey C.
Subject:	FW: risk books for December

Do y'all know when the books will be final for December - I had hopes of being able to utilize the people going to UBS, so if you can give me a status I would appreciate it.

thanks
Lisa

 -----Original Message-----
From: 	Koerselman, Lisa
Sent:	Tuesday, January 22, 2002 9:29 AM
To:	White, Stacey W.; Gossett, Jeffrey C.
Subject:	risk books for December

I am following up to see where we stand on the risk books for December.  My understanding is that we will have at least 3 categories:  legally terminated, not performing but not terminated, and still performing.

The deals that are still performing should have liquidations, etc. "as normal" - the remainder will be "frozen" until an amount is settled with the counterparty.

I am inheriting the MTM group and am trying to get as much done before we split with the people going to NETCO, so if you can give me the status and ETA if the books are not done I would greatly appreciate it.

thanks
Lisa

Lisa Koerselman
x-53128


Attached, please find this article "California Power Costs Hijack New
Campus Funds Science institutes, UC Merced out of proposed budget" from
today's San Francisco Chronicle.

http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2001/03/09/M
N221037.DTL


Attached is some background information for today's Corp. Policy Committee
meeting.

I will bring hard copies to the meeting.

Please note:  tabs C and D are not included in the email attachment, but will
be included in the hard copies.


Enron employees may find the current circumstances stressful.  We want to remind you that Enron's Employee Assistance Program (EAP) is still available and currently offering services to assist you and your family.

Group Discussions
Beginning this week, Enron's EAP provider, Innovative Resources Group, will be facilitating group discussions for employees who are interested in attending. These sessions are designed to address the challenges employees may be facing and to suggest ways to minimize the impact of stress on employees and their families. These sessions will be held on Wednesday, January 30 and Thursday, January 31 at the following times in EB32C2:

	9:00 am -- 10:00 am
	11:00 am -- 12:00 pm
	1:30  pm --  2:30 pm
	3:30 pm --   4:30 pm

No advance registration is necessary -- simply come to EB32C2 at the scheduled day and time that is most convenient for you.

Onsite Confidential Counseling / 24 Hour Hotline
EAP Counselors are available for individual, confidential appointments onsite in the Enron Building or at a variety of neighborhood locations.  Counselors are also available via telephone 24 hours a day, seven days a week for Enron employees in all locations.  The EAP counseling service is provided at no cost to employees and their family members.  To schedule an appointment or speak with a counselor, please call the onsite office at 713-853-6057 or the 24-hour number at 1-800-345-1391.

Informational Brochures
Additional information about EAP programs will be available in the Body Shop, the Health Center on the third floor of Enron Center North and soon in the common kitchen areas on all floors of the Enron Buildings.

Websites
The following links may also provide helpful information:
www.stress.org -- This is the website of the American Institute of Stress. The site provides general information on stress management and links to other related sites.
www.wellnessjunction.com -- This website has been developed by Health Resources Publishing and provides targeted information on trends in wellness and health promotion.


---------------------- Forwarded by Phillip K Allen/HOU/ECT on 05/19/2000
10:46 AM ---------------------------

	From:  Jeffrey A Shankman                           05/18/2000 06:27 PM

To: Phillip K Allen/HOU/ECT@ECT, Keith Holst/HOU/ECT@ect, Mike
Grigsby/HOU/ECT@ECT
cc:
Subject: Large Deal Alert

---------------------- Forwarded by Jeffrey A Shankman/HOU/ECT on 05/18/2000
08:23 PM ---------------------------

Bruce Sukaly@ENRON
05/18/2000 08:20 AM
To: John Arnold/HOU/ECT@ECT, Mike Maggi/Corp/Enron@Enron, Jeffrey A
Shankman/HOU/ECT@ECT
cc:
Subject: Large Deal Alert

To make a long story short.

Williams is long 4000MW of tolling in SP15 (SoCal )  for 20 years (I know I
did the deal)
on Tuesday afternoon, Williams sold 1000 MW to Merrill Lynch for the
remaining life (now 18 years)

Merrill is short fixed price gas at So Cal border  up to 250,000MMBtu a day
and long SP15 power (1000 MW) a day.

heat rate 10,500  SoCal Border plus $0.50.

I'm not sure if MRL has just brokered this deal or is warehousing it.

For what its worth........


Start Date: 4/17/01; HourAhead hour: 2;  No ancillary schedules awarded.
Variances detected.
Variances detected in Energy Import/Export schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001041702.txt

---- Energy Import/Export Schedule ----
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 2 / Preferred:  12.00 / Final:  11.98)
  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 4/17/01
  TIE_POINT: PVERDE_5_DEVERS
  INTERCHG_ID: EPMI_CISO_ERNIE
  ENGY_TYPE: WHEEL


FYI
---------------------- Forwarded by Daren J Farmer/HOU/ECT on 08/02/2000
02:52 PM ---------------------------

Daren J Farmer
08/02/2000 02:51 PM
To: Robert E Lloyd/HOU/ECT@ECT, Mary Poorman/NA/Enron@Enron
cc: Pat Clynes/Corp/Enron@ENRON, Robert Cotten/HOU/ECT@ECT, Vance L
Taylor/HOU/ECT@ECT
Subject: Re: Meter #: 6599

The term contract with Four Square attached to deal #138049 has been
terminated.  Therefore, we need to take that deal to zero for August 2000
forward.  Additionally, we entered into a base load (August only) deal to
purchase the gas from Four Star at mtr 6599 (#348446).  The 1,500/day should
be schueduled on this deal.

Let me know if you have any questions.

D

	From:  Robert E Lloyd                           08/02/2000 09:18 AM

To: Daren J Farmer/HOU/ECT@ECT, Pat Clynes/Corp/Enron@ENRON
cc: Robert Cotten/HOU/ECT@ECT, Vance L Taylor/HOU/ECT@ECT
Subject: Meter #: 6599

 Deal 138049 is committed reserve long term gas totaling 1,350mm per day
which is a good deal.

 However, deal #:  348446 is a  duplicate deal which was overstated and
should be zeroed out {bad deal}.

 This is Vance response to an inquiry made by Bob.

 Daren, do you want me to zero out  deal #: 348446 ?


Start Date: 3/31/01; HourAhead hour: 5;  No ancillary schedules awarded.
Variances detected.
Variances detected in Load schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001033105.txt

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

  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 3/31/01
  TIE_POINT: SYLMAR_2_NOB
  INTERCHG_ID: EPMI_CISO_DFISH
  ENGY_TYPE: NFRM

---- Load Schedule ----
$$$ Variance found in table tblLoads.
     Details: (Hour: 5 / Preferred:  11.62 / Final:  11.61)
  TRANS_TYPE: FINAL
  LOAD_ID: SCE1
  MKT_TYPE: 2
  TRANS_DATE: 3/31/01
  SC_ID: EPMI


Students, Faculty, and Staff,

I have placed a hard copy of the Fall 2001 Module Schedule and Fall 2001
Calendar Schedule in your mailboxes this afternoon for your review.  I have
also posted a copy of the Fall 2001 Module Schedule and Fall 2001 Calendar
Schedule onto EMBANET. To access the Fall 2001 Module Schedule and Calendar
Schedule please open the JGSM Area icon on the EMBANET desktop.  Next
please open the Announcement JGSM icon.  You will find the Fall 2001 Module
Schedule and the Fall 2001 Calendar Schedule located under the Subject
column.  Please open the documents.  If you have any trouble accessing the
Schedule or Calendar please contact David Kilgore at:

kilgore@rice.edu

Thanks,
Kathy

Kathy M. Spradling
MBA Program Coordinator
Jesse H. Jones Graduate School of Management
Rice University
6100 Main Street, MS 531
Houston, Texas  77005-1892
Phone:  (713) 348-3313
Fax:  (713) 348-5251
Email:  spradlin@rice.edu
http://www.rice.edu/jgs
E-mail:  spradlin@rice.edu
http://www.ruf.rice.edu/~jgs/


Deregulation not to blame but Davis is: His inaction allowed a problem to
become a power, and fiscal, crisis
By Pete Wilson
(Published June 3, 2001)

The plain and simple reason California will inescapably suffer hundreds of
hours of blackouts this summer is because California will not have a
sufficient supply of electrical power to meet demand. Five years ago, when
deregulation was passed by unanimous vote of both houses of the Legislature
(and without a murmur of dissent from any Democratic constitutional officer,
including then-Lt. Gov. Gray Davis), California enjoyed an excess of supply
over demand amounting to some 30 percent.
Deregulation was enacted to create free market competition; first, to drive
down what were then among the very highest power costs in the nation and,
second, to attract private power providers to invest in the creation of new
generating capacity to meet the exploding power needs of the New Economy and
keep in California all the jobs that it would produce.
And deregulation did succeed in stimulating a significant increase in
applications to build power plants, especially after the effective date of
the legislation in 1998 and the defeat that year by California voters of
Prop. 9 (which unwisely sought to repeal deregulation). The total megawattage
of the filings for 1998 doubled that for 1997. After the effective date
(March 1998) of the deregulation legislation, AB 1890, and the defeat of
Proposition 9 (November 1998), removing the threat of repeal, the total for
1999 was double that of 1998 -- exceeding the 5,000 MW mark in '99 alone.

Just look at the filings for 1997, 1998, 1999 and 2000 in the California
Energy Commission graph (above). Far from causing the problem of energy
shortage, as the Davis administration charges, deregulation caused providers
to file -- by mid-2000 -- applications to build new power plants that
promised to add 10,000 megawatts to California's power supply.
That's why I signed it.
I did so even though I disagreed with two of the provisions of AB 1890 --
just as I (and every other governor in history) signed other bills which,
though imperfect, promised significant and needed beneficial change from the
status quo, which was certainly true of deregulation.
No one could have anticipated in 1996 the combination of factors -- less
hydroelectric output in the West, warmer summers, sharply higher electricity
demand, constraints on natural gas supply -- that turned an electricity
surplus into an electricity problem by 2000. The reason we will suffer power
blackouts this summer is because the Davis administration has by inaction
allowed a problem to become a crisis. Now the power crisis threatens to
become a state fiscal crisis.
Governor Davis has been quoted as saying, "If I wanted to raise rates, I
could have solved this problem in 20 minutes." Sadly, by temporizing on
needed actions to raise rates and other steps required to avert crisis, he
made crisis inevitable. As a result, California bonds have suffered two
downgrades by Wall Street rating agencies, and he has put in jeopardy state
spending for parks, schools, transportation and other capital needs. He has
been warned by the state legislative analyst to sharply reduce the state
budget.
The administration failed to monitor either the explosive growth in
electricity consumption by the New Economy in the last five years, which
gobbled up the energy surplus that existed at the time of deregulation, or
the curtailment of production of natural gas, which led to price spikes in
recent years. It failed also to heed early warnings from weather forecasting
agencies that the summers ahead would be among the hottest in a century.
It ignored a 1998 warning by the California Energy Commission of possible
energy shortages by as early as 2000. And when possibility became hard, hot
reality in San Diego in 2000, it continued to ignore it, putting in place a
political, palliative rate cap instead of dealing with the problem.
Fully a year ago, or earlier had he chosen to do so, Governor Davis could
have invoked the almost unlimited powers conferred upon the governor of
California by the State Government Code to deal with an emergency, including
explicitly the sudden and severe shortage of electrical energy. These powers
include the suspension of statute and regulation. It was this power that I
used after the Northridge earthquake in 1994 to rebuild and reopen Los
Angeles' shattered freeways -- just 64 days after their destruction, instead
of taking the two and one half years that would otherwise have been required
by law.
Fully a year ago, Davis could have acted unilaterally, without the
Legislature, to suspend operation of the rate cap that the investor-owned
utilities (PG&E, SCE and SDG&E) recently complain of but eagerly requested at
the time of enactment.
He could have, by decree, suspended the provision that prohibited the
utilities from forward contracting with power wholesalers.
He could have, by executive order, suspended and truncated the nightmarish
process required by state law for approval of siting. Had he done so early
enough, when he might even have made a difference this summer, and done so
not just with peaker plants but also with large plants, he might have greatly
accelerated construction of the power plants that will be required to allow
us to escape from blackouts, power price spikes and the severe job loss and
economic injury certain to result from a power supply that is neither
reliable nor affordable.
All these actions, Governor Davis could have taken a year ago -- or earlier:
A governor can foresee the emergency and exercise his extraordinary powers to
prevent it. He is not required to wait and compel California to suffer it.
Had the governor heeded the early warnings -- about hot weather, or the
threat of insolvency to the utilities -- and had he acted, using the full
range of his extraordinary emergency powers when he should have, he could
have prevented the problem from becoming the crisis it has become.
We might have incentivized power providers to build enough new plants fast
enough to avoid blackouts this summer.
PG&E would not have been compelled to declare bankruptcy and Southern
California Edison would not be teetering on the brink.
Energy costs would not have spiked to the present outrageous levels.
The state would not have burned through billions of taxpayers' dollars.
And California's jobs would not be threatened, as they are, by raiders from
other state governments who are aggressively seeking to lure California
employers to their states and steal our jobs.
The blame game waged by the governor's office adds insult to injury. It will
provide no comfort to Californians sweltering in darkness this summer. But it
does do a serious disservice to ratepayers and taxpayers by seeking to
mislead those who are not aware of the real, unhappy facts of California's
present crisis.
The honest explanation for it is simple, not rocket science: State government
cannot ignore the law of supply and demand. It is not the state's
responsibility to build power plants. But it is its responsibility to create
a regulatory environment that will give incentive to private sector providers
to do so. Deregulation, even with imperfections that the governor could have
cured by fiat if the need arose, was a significant advance in achieving that
incentive as subsequent filings by providers attest.
The problem grew into a crisis not because of deregulation but because of
Governor Davis' failure to act. That is the plain, unhappy truth of the
matter. I take no joy in saying so. I have been prepared to be helpful to the
governor during this very serious challenge to our state's well-being, just
as when I responded to his request for my assistance in passing Proposition
39 (the school bond issue) in the most recent election.
Just as my perception of what was best for California caused me to help him
then, I am compelled now to speak out to prevent the rewriting of history and
a deliberate effort to mislead the public and to discredit deregulation in
order to shift the blame for his own inaction.

Pete Wilson is the former governor of California.

You can see this story at: http://www.sacbee.com/voices/news/voices05.html


---------------------- Forwarded by Ami Chokshi/Corp/Enron on 12/20/99 03:05
PM ---------------------------

dscott1@columbiaenergygroup.com on 12/20/99 02:46:42 PM
To: Ami Chokshi/Corp/Enron@ENRON
cc:

Subject: Re: Pennzoil Avails

Here are the January 1999 Devon South Texas volumes.  You may notice that some
if them are not different from December's ... but I reviewed their list and
these are the January numbers.

David

 - Devon STX.xls


Start Date: 2/6/02; HourAhead hour: 22;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002020622.txt
!!!General SQL error.
Couldn't update; currently locked by user 'Admin' on machine 'NAHOU-TRDTS5'.
Table

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

  TRANS_TYPE: FINAL
  SC_ID: ECTstNW
  MKT_TYPE: 2
  TRANS_DATE: 2/6/02
  TIE_POINT: MALIN_5_RNDMTN
  INTERCHG_ID: ENRJ_CISO_3000
  ENGY_TYPE: FIRM


Better get after this quickly. Are we working on this already? Rick

 -----Original Message-----
From: 	Hayslett, Rod
Sent:	Monday, April 16, 2001 11:13 AM
To:	Buy, Rick
Cc:	Centilli, James
Subject:	FW: Red Rock expansion

 -----Original Message-----
From: 	Horton, Stanley
Sent:	Monday, April 16, 2001 11:12 AM
To:	Hayslett, Rod; Harris, Steven
Cc:	McCarty, Danny
Subject:	Red Rock expansion

The Red Rock expansion needs to get  approval at the May 1st Board meeting.  The procedure is to submit it to the Finance Committee of the Board for approval . Assuming the Finance Committee approves the project they would recommend it to the Board for approval.  By this memo, I am requesting that Rod coordinate with Rick Buy to get it on the Finance Committee agenda.

I will be in town for both the Board meeting and the Finance Committee meetings.  If formal presentations are required at the Finance Committee we can decide who should do them.  It is my understanding that no presentation needs to be done at the Board meeting.  I will check with Jeff to see if he wants a formal presentation to the Finance Committee or if he will do it himself.


November 29, 2000

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

Some Road to the Presidency
Al Gore is contesting the Presidential election not from clawing ambition,
his spinners tell us, but because he has divined that he really won. Maybe
so. A mind that can count a dimpled chad as a vote is capable of believing
about anything.

Mr. Gore's professed high-mindedness would be easier to credit, though, if
it were not washed in the casual attitude toward the truth that we have come
to expect from the author of no controlling legal authority, the Buddhist
Temple fund-raiser and the iced tea defense.

The Vice President in his Monday speech to the nation repeated the
professions of supermouthpiece David Boies, for example, that there were
10,000 votes in Miami-Dade uncounted. These are in fact votes that were
machine-counted for other offices but did not register a vote for President.
The common-sense view of such a ballot is that the voter wanted to be heard
on other offices, but did not like either candidate for President. There
were 175,000 such ballots across the state of Florida, and 1.25 million
across the nation.

What Mr. Gore really wants is to pour over the 10,000 Miami-Dade ballots in
search of the mysterious "dimpled chad" votes for him. Bear in mind that the
county's board back on Nov. 14 shut down its first recount after a sampling
of three precincts turned up only six more votes for Mr. Gore. That seemed
in retrospect to be the sort of reasonable action so thought to be missing
from this endless exercise. The Democrat sued, forcing Miami-Dade to resume.

The Gore team currently argues that Miami-Dade is an undiscovered motherlode
of Gore votes because in the 135 of 614 precincts counted they produced a
Gore gain of 157 votes. But the recount went through the precincts
numerically, and the first tranche, heavily Democratic, are known to have
voted overwhelmingly for Mr. Gore. While those 135 initially counted
precincts gave Mr. Gore 73% of their vote, the Vice President's share of the
whole county was 53%. Those potent projections of Gore numbers from a full
recount that they're citing are undoubtedly an exaggeration.

The Gore lawsuit against Palm Beach is richer still. Here they are literally
arguing that poor Judge Burton and his colleagues didn't use sufficiently
low dimple standards, what the lawsuit calls "incorrect legal standards," to
accept Gore votes. Here as well we have a Democratic county and board, upon
whom the Gore folks were heaping praise less than two weeks ago, which
they're now suing.

In Seminole County, "independent" Democrats have sued to kill absentee
ballots certified for Governor Bush, who carried those votes by almost 2 to
1. Their case: The county's elections supervisor broke the law by letting
GOP office workers enter voter identification numbers left off of request
forms sent in by absentee voters, who had otherwise complied by signing the
form and listing the last four digits of their Social Security number. Want
more detail? Normally the ID numbers are preprinted on the forms before
they're sent out, which is what the Democrats did, but the GOP's software. .
. . Oh well, the Democrats are suing.

So let's review the story so far. We had a Florida count Nov. 7, then a
recount, and then we let Al Gore pick several famously Democratic counties
to hand-count; we've let various amounts of ambiguous chads be counted, let
his party officials eyeball the ballots, often going his way by a 2 to 1
vote, let a GOP counter in Broward resign, extended the pre-established
deadline and, let's see, what else? Oh yes, Mr. Gore still lost.

The Gore/Boies strategy now is essentially to sue everyone in sight, hoping
that some cache of votes reopens (Dade) or closes up (Seminole). His lawyers
argued yesterday that he'd already be ahead if so many military ballots
weren't counted. This is not "counting every vote"; it's asking lawyers to
overturn an election, not once but several times. And it's becoming
increasingly apparent to the American people; two national polls put support
for a Gore concession at 60%, a strikingly high number given the close
election result.

As to the Democrats, a few have wavered publicly on joining the Gore long
march, but mostly the party is circling the two exhausted candidates, on the
one hand standing behind Mr. Gore's attempt to reverse the election, while
simultaneously demanding to share power with the incoming Bush
Administration.

All this said, we have in fact found one Gore gambit to really admire:
Identifying that five-minute seam of network time for a speech at 8:55 p.m.,
five minutes before the start of Monday night football. Pretty clever. The
dimpled-ballot standard may not stand up, but opening up that 8:55
prime-time window for political speech may last forever.

______________________________________________________________________________
_______
Get more from the Web.  FREE MSN Explorer download : http://explorer.msn.com


ya

 -----Original Message-----
From: 	Melodick, Kim
Sent:	Thursday, March 22, 2001 10:12 AM
To:	Lavorato, John
Subject:	Rick Whittaker

I have received a note from Ben Jacoby indicating that you have approved a commerical hire for his group named Rick Whittaker. He is at the Commercial Director level and my understanding is that his transfer will be lateral.  Please send me a note indicating that you have approved this hire.


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Sorry.  I forgot to attach the file with the overheads in the previous
message.

Dear class:

Here are the last group of overheads for the class.  There are a couple of
small changes (and an additional overhead) from what was placed earlier on
the web.

Barry Staw

 - Session 8 overheads97.doc


As most of you know, we met recently with Caesar Pelli architects to discuss
art space outdoors on the Enron campus and on the first two floors of the
new building (public spaces.)  The conclusions were:  1)  The best outdoor
site is in Antioch Park and will require coordination with a landscape firm
pitching a renovation of the Park;  2)  The only interior wall feasible is
the tall space outside the auditorium on the first floor.  You have been
copied on an e-mail regarding potential discussions with Jeff Koons for the
Antioch Park project.

In an effort to continue to identify (in a detailed fashion) the other
interior art spaces available to us, we are awaiting scheduling of a meeting
with Gensler (interior architects for floors 3-40.)  I will let you know as
soon as we have dates/times available.  At this time, I hope to have more
information and seek input on the Koons discussions and to suggest a
timetable for proceeding on a presentation to Skilling/Lay and artist
discussion.

Lea


----- Forwarded by Mark Taylor/HOU/ECT on 08/29/2000 04:02 PM -----

	Jeffrey T Hodge
	08/29/2000 09:02 AM

		 To: Mark Taylor/HOU/ECT@ECT
		 cc: John Craig Taylor/HOU/ECT@ECT
		 Subject: re: Bid Solicitation

Mark:

I believe that these fall in your arena.  Craig will be calling you later
today to discuss.

Thanks,

Jeff
----- Forwarded by Jeffrey T Hodge/HOU/ECT on 08/29/2000 09:01 AM -----

	John Craig Taylor
	08/28/2000 04:48 PM

		 To: Jeffrey T Hodge/HOU/ECT@ECT
		 cc:
		 Subject: re: Bid Solicitation

Let's talk Tues a.m. regarding this, if convenient for you. Thanks

Craig Taylor
ext. 3-7131
---------------------- Forwarded by John Craig Taylor/HOU/ECT on 08/28/2000
04:46 PM ---------------------------

glosej@NiagaraMohawk.com on 08/18/2000 06:44:34 AM
To:
cc: leuthausers@NiagaraMohawk.com, vanvalkenburghr@NiagaraMohawk.com,
piscitellip@NiagaraMohawk.com, o'neillt@NiagaraMohawk.com
Subject: Bid Solicitation

Attached are two WORD documents that provide the details of
Niagara Mohawk's solicitation of bids to purchase swap agreements
to cover the basis from Henry Hub to various delivery points.
Please review the documents and call/E-Mail to discuss any
questions.

Niagara Mohawk's credit contact is Pat Piscitelli.  His phone
number is (315) 428-6482 and E-Mail address is
piscitellip@Niagara Mohawk.com

Please E-Mail me back to confirm your receipt of this message.

Jeffery A. Glose
Sr. Energy Contract Specialist
Niagara Mohawk Power Corporation
Supply Services - HCB3
Syracuse, New York
13202
phone:    (315) 460-2262
fax: (315) 460-2660
E-Mail:   glosej@NiagaraMohawk.com

(See attached file: Swap Form.doc)(See attached file: Bid
Solicitation.doc)

 - Swap Form.doc
 - Bid Solicitation.doc


I taught this was really nice. Enjoy! Have a blessed week.
----- Forwarded by Charlotte Banks/Enron Communications on 12/13/00 08:48 AM
-----

	Claudette Daniels@ENRON
	12/13/00 08:37 AM

		 To:
		 cc: (bcc: Charlotte Banks/Enron Communications)
		 Subject: FW: LOVE

I hope this touches your lives as it has touche mine.

 <<5_Guardian___.doc>>

 - 5_Guardian___.doc


---------------------- Forwarded by Phillip M Love/HOU/ECT on 04/05/2001
10:06 AM ---------------------------
From: Eric Groves/ENRON@enronXgate on 04/05/2001 08:35 AM
To: egroves1111@hotmail.com@SMTP@enronXgate, John Swinney/ENRON@enronXgate,
Rajib Saha/ENRON@enronXgate, Brent A Price/ENRON@enronXgate, Gary
Taylor/ENRON@enronXgate, Mason Hamlin/HOU/ECT@ECT, Phillip M
Love/HOU/ECT@ECT, Chuck Ames/NA/Enron@Enron, Scott Earnest/ENRON@enronXgate,
Michelle Schultz/ENRON@enronXgate, Jeffrey C Gossett/HOU/ECT@ECT, Scott
Pack/NA/Enron@Enron, Chris Abel/HOU/ECT@ECT, Adarsh Vakharia/HOU/ECT@ECT,
O'Neal D Winfree/HOU/ECT@ECT, David Baumbach/HOU/ECT@ECT, William E
Kasemervisz/ENRON@enronXgate, Lee Jackson/HOU/ECT@ECT, Adam
Gross/HOU/ECT@ECT, Chad South/NA/Enron@Enron, Tom Mcquade/HOU/ECT@ECT, Kevin
McGowan/Corp/Enron@ENRON, John Massey/HOU/ECT@ECT, Aaron
Martinsen/NA/Enron@ENRON, Jill Siekmeier/Corp/Enron@Enron, Adam
Siegel/NA/Enron@Enron, Chad Pennix/HOU/ECT@ECT, Bryan Hull/HOU/ECT@ECT, Sean
Keenan/ENRON@enronXgate, Mark Friedman/HOU/ECT@ECT, Nick
Hiemstra/HOU/ECT@ECT, John House/HOU/ECT@ECT, Barbara Cain/ENRON@enronXgate,
Jefferson D Sorenson/ENRON@enronXgate, Zachary Sampson/NA/Enron@ENRON,
Elizabeth Johnston/ENRON@enronXgate, Mark Fondren/ENRON@enronXgate, Richard
Cross/ENRON@enronXgate, Gary W Lamphier/HOU/ECT@ECT
cc:
Subject: 2001 Masters Pool - Picks

Please check your picks for errors.

Good Luck!


Julie,

If they want to pay $5.15, that's fine with me.  I do have $5.11 in the
system but I could
have easily made a mistake.  Let me know if you have any other questions.

Kevin

P.S.  Sorry it took me so long to reply.


561213

broker has the term the 28-31

thanks


BUSINESS HIGHLIGHTS

eSource
eSource, Enron's research group, has experienced an overwhelmingly positive response to the research training which it has hosted.  Participation and interest by Enron employees has exceeded expectations and many classes were quickly filled.  As a result, repeat classes have been offered and new sessions have been added to the program.  In addition to the Lexis-Nexis and Dow Jones classes, eSource has now begun hosting sessions on Piranha (financials and pricing information), Investext (analyst reports and market analysis), Global Access (financials and corporate activity), and Securities Data Corp. (M&A, debt).   eSource has also arranged long distance sessions using interactive web tools for Enron employees around the world.  Watch for e-mails announcing new training sessions, either in Houston or in a virtual desktop mode.

Since our launch in December, the eSearch website has received over 230,000 hits.  The site today offers Enron employees access to 34 electronic databases.  These databases offer the latest financial and business on-line research capabilities in a cost-effective manner.  In this era of information explosion, databases are constantly being reviewed to ensure that Enron's research needs are being met.  If you know of a professionally relevant database that might be added to eSearch, let us know.  Meanwhile, to further fulfill Enron's research needs, eSource is arranging for desktop access to good-old-fashioned libraries too.  Books from public and local university libraries can be located, borrowed and delivered to employees' desks.  This should be particularly helpful for those with more specialized or technical research needs.

We are also proud to report that at a recent local research conference, Enron's eSource was featured as an industry trailblazer for having invented itself into a combined virtual library and intranet-based research center capable of delivering a broad range of research products and services via the user's desktop.  Attendees from Reliant, Shell, Halliburton and ExxonMobil and others were duly impressed.

As for the future, watch for Version 2.0 of the eSearch website, http://esource.enron.com, scheduled to launch soon.  It will feature greater functionality and additional content.  Look for new features like "Industry Overviews" and links to information providers like Frost & Sullivan, Country Watch, and World Energy Markets.

IN THE NEWS

Chicago And Its Suburbs Pick Enron, ComEd For Power Deals
06/06/2001  Dow Jones Energy Service (Copyright (c) 2001, Dow Jones & Company, Inc.)
CHICAGO -(Dow Jones)-The City of Chicago and 47 suburban communities have decided to divide new deals for 400 megawatts of power between Enron Corp. (ENE) and local utility Commonwealth Edison Co., Chicago officials said Wednesday.
In the largest power purchase agreement in Illinois since the state choose to deregulate the industry in 1997, the local government groups will get 60% of their power from Enron and 40% from Exelon Corp.'s (EXC) ComEd. The municipalities use the power for public buildings and public transportation.
Chicago announced Monday that the group has picked ComEd to meet the renewable target by providing 80 megawatts of power created with landfill gas, wind and other sources. ComEd will also provide the coalition with another 80 megawatts of power generated with fossil fuel and nuclear plants, and Enron will provide the other 240 megawatts. The new contracts are expected to go into effect this year.
"We used our purchasing power as local governments to get the best price we could and at the same time to promote competition in Illinois. Enron gave us the most competitive price,"  Chicago Mayor Richard M. Daley said at a press conference.

WELCOME
New Hires
EGM  - Jennifer Morris, Mike Reen, Daniel Fuller, Jason Paterniti
ENA  - Craig Hawkins, Carol Langston, Mark Morrow, Harlan Murphy, Bruce Petitt, Emily Schwarzbach, Alice Wright, Allyson Zykorie

Transfers (to or within)
ENA - Thomas Kalb, Debra Brannen, Juan Camarillo, Richard Orellana
EGM - Joana Bekerman, Eric Tipp, Kellie Metcalf, Ricardo Charvel, Jason Andrade
EIM - Jaime Araoz, Gabriel Chavez, Enrique Cadena, Rosalinda Castillo, Kimberly Chick, Ana Morena, William Brown, Grisela Escamilla, Paul Burkhart, Jodi Coulter, Douglas McDowell, Catherine Pernot

NUGGETS & NOTES

Enron is hosting the Chicago Energy Risk Management Seminar at The Drake Hotel in Chicago on June 14, 2001.  Topics include: Power Outlook, Natural Gas Outlook, Hedging Strategies, Weather Risk Management and Pulp and Paper Risk Management. The RSVP deadline is June 8th so please contact Laura Pena as soon as possible at x 3-5376.  This is a great event for "new" as well as established customers.  There will be a cocktail reception immediately after the presentations.  Enron will also be hosting seminars in Atlanta, Houston, Denver and San Francisco.  Dates to be announced soon.

Congratulations to Kathy and Craig Taylor, manager in East Origination. They are the proud parents of a baby girl, Katherine Montgomery, born on May 25.

Travel tip of the week:
When booking through TAP or ClickTrip, use preferred domestic airline carriers to recognize special Enron discounts.
	American		28%		American West		15%
	Continental		17%		Delta			10-28%
	Northwest		20%		TWA			19-25%
	United			20%		US Airways		30%

Please note: discounts are confidential and should not be disclosed to anyone other than Enron employees.

EnronOnline Statistics
Below are the latest figures for EnronOnline as of June 5, 2001.

*	Total Life to Date Transactions > 1,045,000
*	Life to Date Notional Value of Transactions > $630 billion

experience Enron
Announcing enhancements to experience Enron:
?	To begin your customer's Enron experience, we will send out customized invitations with a Guest Check-In Card that contains detailed instructions about check in.
?	experience ENRON has partnered with the Plaza Reception Desk Staff to create a less stressful check in process for your customers.  Once they present their card, the Plaza Reception Desk Staff will welcome them and present them with a prepared experience ENRON name badge.
?	experience ENRON has also created a new look for your meetings.  Our new table tents, welcome folders, name badges, agendas and presentation templates all have the same look to maintain a consistent feel throughout the visit.
?	All of this is to ensure that your guest has a unique and customized experience that will exceed their expectations and help you reach your business goals faster.
For more information on experience ENRON, visit our website at experience.Enron.com.

LEGAL STUFF
The information contained in this newsletter is confidential and proprietary to Enron Corp. and its subsidiaries.  It is intended for internal use only and should not be disclosed.


Kay -- No problem.  I'm with you totally on this.  Reagan did send the letter
to Marvin.  David and Marvin are meeting at 4:30 to discuss it.  Marvin has
not heard from Bob Priest yet, but he and Reagan are both trying to follow up
with Bob this afternoon.  We should hear from Marvin first thing in the
morning if not late this afternoon.  Thanks -- David

 -----Original Message-----
From:  Mann, Kay
Sent: Tuesday, May 29, 2001 11:18 AM
To: Rorschach, Reagan; Fairley, David; Kroll, Heather
Subject: Clarification

I'm thinking my last email was unclear.

I assume that someone from the commercial team will send (or has sent) the
extension letter to MDEA, YC, and Clarksdale's commercial reps for their
review.  I assume that the  commercial reps with YC, MDEA, and Clarksdale
will get whatever legal input they want from their own lawyers if they think
it is necessary (may not), but as a courtesy, I sent drafts to the two
lawyers I know about.

Kay


Just a small piece of internal discussions regarding the revolving line of
credit and how it ties in with the enovate bank account.
---------------------- Forwarded by Kay Mann/Corp/Enron on 10/03/2000 12:06
PM ---------------------------

Sarah Wesner
10/03/2000 09:31 AM
To: Gregg Penman/Corp/Enron@Enron, Kay Mann/Corp/Enron@Enron, Sam
Round/HOU/ECT@ECT
cc:

Subject: Enovate loan facility

 Enovate's bank account is already set up under the Enron global agreement
with Citibank.

The facility will be lent by ENE and People's.  If People's does not fund its
half of enovate obligatiosns and an overdraft of the enovate Citibank account
occurs, ENE would eventually be liable for the overdraft amount to Citi
(Sam-please confirm.)  If Enron would be liable under its gloabal account
agreement then Enron needs an indemnification/guarantee from People's in the
event that People's does not fund its half.


Enron announced today that its common stock will now be traded as an Over-the-Counter (OTC) equity security under the symbol "ENRNQ."  This follows a decision by the New York Stock Exchange (NYSE) to file an application to delist Enron's common stock, which means that Enron's common stock and related securities are suspended from trading on the NYSE.  Enron is considering whether to appeal the NYSE's decision.

The NYSE has standard criteria for listing stocks, which can be found on their website at www.nyse.com.  Enron recently fell below the following listing criteria: average closing price of a security less than $1.00 over a consecutive 30 trading-day period.  Quotation service for Enron's stock will now be provided by the National Quotation Bureau, LLC "Pink Sheets."


that is him


The attached spreadsheets reflect all assigned Full-Time and Summer Analysts.  If you have questions, you may contact me at x3-6499.

 -----Original Message-----
From: 	McLoughlin, Hector
Sent:	Friday, May 11, 2001 5:06 PM
To:	Buckley, Karen; Richards, Andrea
Cc:	Bland Jr., Ted C.
Subject:	RE: Sally Beck

Dave,
Have you sent the AA data for Brent Price's group?
Thanks,

Hector G. McLoughlin, PHR
Human Resources
Enron Net Works
Office: 713-853-6703

 -----Original Message-----
From: 	Buckley, Karen
Sent:	Friday, May 11, 2001 5:05 PM
To:	Richards, Andrea
Cc:	Bland Jr., Ted C.; McLoughlin, Hector
Subject:	Sally Beck

Andrea

Per our ealier discussions please forward the Sally Beck data direct to Hector as I have to leave the office due to prior committments.  As discussed Sally requires this info today.

I would be grateful if you could copy me in on the e:mail so I can track from an EWS perspective.

Thanks, Karen.


Gina,

Have we figured out what happened here?  I haven't heard anything in a while.

Michelle

---------------------- Forwarded by Michelle Cash/HOU/ECT on 08/23/2000 11:29
AM ---------------------------

Michelle Cash
07/13/2000 11:04 AM
To: Brian Schaffer/Corp/Enron@ENRON
cc: David Oxley/HOU/ECT@ECT, Gina Corteselli/Corp/Enron@Enron, Kathryn
McLean/HOU/ECT@ECT, Cindy Olson/Corp/Enron@ENRON
Subject: Re: Performance Review Process

I agree with Brian.  I recently learned that someone can "hack" into the
emeet site and pretend to be Jeff Skilling (as I discussed with you, Brian,
this morning).  So, we probably should start with that group to see if there
are any gaps in the email system.

I would suggest that someone from Net Works -- Roberto DeLeon or his crew--
would be the appropriate technical support for this endeavor.  I agree with
Brian that the focus should be on the impersonation of the office of the
chairman and not the content of the email itself.

I am happy to assist in any way you would like.

Michelle

Brian Schaffer@ENRON
07/13/2000 10:28 AM
To: David Oxley/HOU/ECT@ECT
cc: Gina Corteselli/Corp/Enron@Enron, Michelle Cash/HOU/ECT@ECT, Kathryn
McLean/HOU/ECT@ECT, Cindy Olson/Corp/Enron@ENRON
Subject: Re: Performance Review Process

David:

 I am less concerned about the substantive comments of the message as I am
about the "forgery" of the ECT OTC mailbox.  Unless Michelle or another
opines differently, I believe it is incumbent upon us to determine who
mis-used that e-mail address.  This is not to say that an employee should be
disciplined for raising complaints; obviously that would be retaliatory in
nature.  And so, if this person had simply left an anonymous voice message or
old-fashioned letter with OTC, I would have no issue.  But, here, this person
has sent a communication ostensibly from ECT's OTC and apparently has access
to do so in the future.  In my mind, that activity must be addressed and
ceased.

 I suspect that it is technologically feasible to determine the source of the
message.  Unless there is objection, I would recommend an investigation
(which my group can do) to determine the author.

Brian

David Oxley@ECT
07/13/2000 09:59 AM
To: Gina Corteselli/Corp/Enron@Enron, Michelle Cash/HOU/ECT@ECT, Kathryn
McLean/HOU/ECT@ECT, Brian Schaffer/Corp/Enron@ENRON
cc: Cindy Olson/Corp/Enron@ENRON

Subject: Re: Performance Review Process

Can we discuss below please? Please review message and give me your comments.

Given it is anonymous it's difficult to respond.

David
---------------------- Forwarded by David Oxley/HOU/ECT on 07/13/2000 09:57
AM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  Kay Chapman                           07/13/2000 09:50 AM

To: David W Delainey/HOU/ECT@ECT, Mark Frevert/NA/Enron@Enron, David
Oxley/HOU/ECT@ECT
cc: Nicki Daw/NA/Enron@Enron, Rhonna Palmer/HOU/ECT@ECT, Sherri
Sera/Corp/Enron@ENRON
Subject: Re: Performance Review Process

This memo went to Corp and Sherri forwarded for us to handle.

Thanks,

Kay

	Enron North America Corp.

	From:  Sherri Sera @ ENRON                           07/13/2000 09:21 AM

To: Kay Chapman/HOU/ECT@ECT
cc: Mary Clark/Corp/Enron@ENRON
Subject: Performance Review Process

Kay, per our discussion, here's the e-mail.  You should probably find out who
has access to that ECT Office of the Chairman mailbox and who forwarded this
up to the Corp. Office of the Chairman.  This should be handled with ENA.
Thanks, SRS
---------------------- Forwarded by Sherri Sera/Corp/Enron on 07/13/2000
09:14 AM ---------------------------

Office Chairman on 07/13/2000 08:04:17 AM
To: Mary Clark/Corp/Enron@ENRON, Sherri Sera/Corp/Enron@ENRON
cc:

Subject: Performance Review Process

---------------------- Forwarded by Office Chairman/Corp/Enron on 07/13/2000
08:04 AM ---------------------------

Office of the Chairman@ECT
07/06/2000 10:01 AM
To: Office Chairman/Corp/Enron@ENRON
cc:
Subject: Performance Review Process

After having lived through another PRC process, it has become exceedingly
obvious that there are several issues that need improvement in the process.
With all our discussions about Communication within Enron, I am now
communicating to your level issues that I have communicated in years past to
other parties without change.

1)  Enron needs to lay out the groundrules in total that will pertain to the
upcoming review period and communicate them in advance of the review period,
not during the PRC process to be applied after the performance has already
occurred and upon which each employee cannot change their behavior for such
review period.  This is only fair to our employees so that they know the
criteria upon which they will be evaluated in advance.

2)  The PRC system needs to be changed whereby any and all people that are
willing to provide input on performance of any individual can be done without
a bunch of red tape.  There is this idea that unsolicited input works within
the system, but it requires too much effort to get throught the hurdles and
it still requires that the supervisor approve such input.  There needs to be
an unobstructed communication line for this input.  The theory of upward
feedback should also be questioned.  I have never been asked to provide input
to my direct boss (President of Houston Pipe Line) in all the years that I
have worked for that position.  Are Managing Directors exempt from this
process?  This issue is also addressed in #3 below in a different manner.
How can appropriate feedback be given if those that work directly with
individuals are not given the opportunity to communicate?

3)  There is still way too much preferrential selection of reviewers in the
process.  There should be set out for each employee a listing of absolute
minimum reviewers (certain people) that must be solicited, depending upon the
job function.  I have seen too many circumstances where the obvious people to
provide input were not even solicited.  There was one individual that
partially worked directly for another during this past review period and was
not even asked for input.

4)  What constitutes an average employee and what that category is within our
PRC definitions is still being debated.  It has been described by several HR
representatives that it is either/and both Strong or Satisfactory.  Neither
one of the definitions describes such performance as "simply doing the job".
Because of such confusion, the reviewers when they provide input do not
effectively and precisely rate the employee.  What we end up with in the PRC
is an over-inflated representation of each employee and the committee has to
pull the entire group back a notch.  With better definitions and
communication to our employees on how to interpret the definitions, it will
give us a better process and set the standards in writing that seem to be
lacking.

Thanks for your listening ear.


Gerald,

Here is a revised copy of the agreement.  I added some strong safety
language in Section 22 which I need you to look at.  Also, I don't see a
"Failure to Perform" provision - is this covered somewhere else?

Also want to discuss the Remedy in case of Default provisions.  I don't want
BCCKOP to be able to shut the facility down and hold us hostage for payment
of something.  I want them to be able to terminate the agreement, and then
orderly shutdown the facility and then leave.  Otherwise, we keep on
operating.  Let's discuss.  Also added words on Schedule F.

Ken Krisa

 - BCCKOP BWGP Op Agreement 11-01 kck.doc


----- Forwarded by Tana Jones/HOU/ECT on 08/28/2000 03:51 PM -----

	Tom Moran
	08/28/2000 03:48 PM

		 To: Frank L Davis/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, Tana
Jones/HOU/ECT@ECT, Samuel Schott/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT, Sheri
Thomas/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Bernice Rodriguez/HOU/ECT@ECT,
Brant Reves/HOU/ECT@ECT, Debbie R Brackett/HOU/ECT@ECT, David
Hardy/LON/ECT@ECT, Lesli Campbell/HOU/ECT@ECT, Lisa Gillette/HOU/ECT@ECT,
Molly Harris/HOU/ECT@ECT, Cynthia Clark/Corp/Enron@ENRON, Mary G
Gosnell/HOU/ECT@ECT, Enron Europe Global Contracts and Facilities, Enron
Europe Global CounterParty, Stephanie Sever/HOU/ECT@ECT, Bradley
Diebner/HOU/ECT@ECT, Stacey Richardson/HOU/ECT@ECT, Lesli
Campbell/HOU/ECT@ECT, Adnan Patel/Corp/Enron@ENRON, Claudia Clark/HOU/ECT@ECT
		 cc:
		 Subject: EOL Credit Responses 08/28/00

The EOL approvals for 08/28/00 are attached below.

Regards,
tm


I just got some late changes in from Leslie, so please hold list I JUST send
you until she resolves these issues.  Thanks!
---------------------- Forwarded by Tana Jones/HOU/ECT on 01/28/2000 03:31 PM
---------------------------

Leslie Hansen
01/28/2000 03:27 PM
To: Tana Jones/HOU/ECT@ECT
cc:
Subject: Re: EOL Credit Responses 1/27

Tana:
1. CMS Panhandle Eastern Pipe Line Company is not on any of my lists as a
FERC-authorized power marketer, and we do NOT have a trading relationship
with them.  Therefore, this entity is NOT authorized to trade U.S. power
products.

2. Allegheny Energy Supply Company, LLC is a current trading partner.  I have
a few calls out to see if I need to restrict their access to Enron Sales only
and will let you know in a bit.

Leslie


You are confirmed for Reorientation.
 -----Original Message-----
From: 	Lokay, Michelle
Sent:	Thursday, February 28, 2002 2:38 PM
To:	Communications
Subject:	Tuesday, March 5th 1:30-3:00pm: REORIENTATION


http://infopost.link.duke-energy.com/infopost

Eric Gillaspie
713-345-7667
Enron Building 3886


Knudsen, Sheila A. would like to recall the message, "Reply Requested: Do You
Code Or Approve Invoices?".


Gentlemen,

As our March cargo has been diverted to Lake Charles I do not see the need
for a conference call today. I will nominate tentative date for April and May
which we can revise next month. As an  indication I will nominate the 1-5
April followed by another cargo 35-40 days later. These dates are consistent
with the current planned outage and a dispatch rate of between 76% and 85%.
If anybody has and any questions or comments please let me know.

TP


Have you checked with credit?

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com

	Stephanie Panus@ENRON
	03/26/2001 03:42 PM

		 To: Brent Hendry/NA/Enron@Enron, Sara Shackleton/HOU/ECT@ECT, Mark
Taylor/HOU/ECT@ECT, Carol St Clair/HOU/ECT@ECT, Susan Bailey/HOU/ECT@ECT,
Mary Cook/HOU/ECT@ECT, Robert Bruce/NA/Enron@Enron, Tana Jones/HOU/ECT@ECT,
Francisco Pinto Leite/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Cheryl
Nelson/NA/Enron@Enron, Frank Sayre/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Anne
C Koehler/HOU/ECT@ECT, Angela Davis/NA/Enron@Enron, Holly
Keiser/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
		 cc:
		 Subject: Nicor Enerchange, LLC

Does anyone remember working on an ISDA Master between ENA and Nicor
Enerchange, LLC.  They are saying that an agreement has been executed.
However, our database shows that we received comments from them but nothing
further.

Thanks,
Stephanie


I have set up the following contracts for Columbia Energy Services:

Counterparty Name  Global Contract Number

CES Asset Management 96031882
CES Gas Sales   96031916
CES Prepaid Gas  96032019
CES CALP Exchange  96032253 (Market)
CES CALP Exchange  96032252 (Production)


Ina,

Can you help me approve this request?

Phillip

---------------------- Forwarded by Phillip K Allen/HOU/ECT on 03/19/2001
09:53 AM ---------------------------

ARSystem <ARSystem@mailman.enron.com> on 03/16/2001 05:15:12 PM
To: "phillip.k.allen@enron.com" <phillip.k.allen@enron.com>
cc:
Subject: Your Approval is Overdue: Access Request for mike.grigsby@enron.com

This request has been pending your approval for  9 days.  Please click
http://itcapps.corp.enron.com/srrs/auth/emailLink.asp?ID=000000000021442&Page=
Approval to review and act upon this request.

Request ID          : 000000000021442
Request Create Date : 3/2/01 8:27:00 AM
Requested For       : mike.grigsby@enron.com
Resource Name       : Market Data Bloomberg
Resource Type       : Applications


I have asked Patti to get us together  to discuss your e:mail message as soon
as possible.  Hopefully, we can work that out this week.  I llok forward to
talking with you and I will be glad to help you in any way that I can.


Tracy and Sara, please provide with an update of what you know about this
transaction at your earliest convenience.

Thank you

Christopher

William S Bradford
10/19/99 03:32 PM
To: Christopher Smith/HOU/ECT@ECT
cc: Sara Shackleton/HOU/ECT@ECT, Tracy Ngo/HOU/ECT@ECT, Patricia
Cini/HOU/ECT@ECT
Subject: Re: Aquilla Muni Deal

Christopher,

I believe Tracy Ngo has begun to look at it from a credit perspective.  I
don' have any of the details.  Aquila Energy Corp. is the guarantor for
Aquila trading subs and is not anywhere near the equivalent credit quality of
Enron Corp.  We need to be careful of how much incremental risk we take with
Aquila without collateral because of our significant trading positions with
them.  Please advise when you find out more details about the structure.

Regards,
Bill

To: Sara Shackleton/HOU/ECT@ECT
cc: William S Bradford/HOU/ECT@ECT
Subject: Re: Aquilla Muni Deal

I have not heard anything about this transaction.  Do you have a transaction
diagram and/or a term sheet or any memoradum that describes anything about
what they are trying to do?

Christopher

Sara Shackleton
10/15/99 02:03 PM
To: Christopher Smith/HOU/ECT@ECT
cc:
Subject: Aquilla Muni Deal

Did Chris call you about this?  SS
---------------------- Forwarded by Sara Shackleton/HOU/ECT on 10/15/99 02:02
PM ---------------------------

	From:  Chris H Foster                           10/15/99 01:53 PM

To: Sandra McDonald/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT, Dale
Rasmussen/HOU/ECT@ECT
cc: Frank W Vickers/HOU/ECT@ECT
Subject: Aquilla Muni Deal

I spoke to Todd Busby.  He said he is trying to set this up as a transaction
where we could directly link the two swaps.  It is my understanding that this
would simplify the transaction in that the credit/contracting process would
be fairly straightforward.  He said that he needs to get his internal ducks
in a row before he is prepared to take a step forward with us.  He will call
me if and when this occurs.   So, this might not come to anything.  I will
let you know if and when he surfaces so we can decisde what we should do next.

Thanks!!

Chris


---------------------- Forwarded by Ami Chokshi/Corp/Enron on 05/22/2000
09:20 AM ---------------------------

"Steve Holmes" <Steve.Holmes@dvn.com> on 05/22/2000 09:23:29 AM
To: <Ami.Chokshi@enron.com>
cc:

Subject: June Availabilities

Ami,
Attached is the list of June availabilities for enron to sell.  I have listed
the pipeline beside the offshore volumes and am in the process of doing the
same for the onshore.  We are still waiting on a couple of volumes on some of
the outside operated properties and have estimated availabilities for those
properties.  Additionally, the PVR factors are estimated and will also be
provided as they become available.

Please feel free to call me with any questions you have.

Thanks,
Steve

 - EnronAvails0600.xls


Thanks for your help.  We got in and its working fine.
mike

Travis Williams@ENRON
06/16/2000 12:22 AM
To: Mike McConnell/HOU/ECT@ECT
cc:
Subject: Remote Access

Mr. McConnell,

I received a call tonight from Elliott Katz in our Sydney office regarding
the problems that you were having with connectivity. I spoke to the
technician in Tokyo and we were able to get everything working.

I tested your account via IPass to the Tokyo number  (011813) 3525 3000 and
through the VPN client - both worked fine. Nobu and I stepped through making
sure your system was connecting properly and that Notes was operational.

Neither of us had your password so I changed it to change12me. I will handle
getting the password reset to whatever you would like if you would like to
email or call me with it. The only catch is that it must be unique.

You can reach me on my cell phone anytime. The number is 713.539.3814.

Thank you and I hope you have a good visit and a safe trip home!

Travis Williams


surf cams show flat and green. fishing reports positive. forcast unkown.
Zander says he will fish surf tomorrow am if looks good. Alfred, you still
planning on going down tonight for your galveston hearing?

_________________________________________________________________
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