Sally

Further to our discussion on Friday I summarise my view of Joe Gold's issues
with the MO control process

Joe expressed some frustration with the current status as follows: -

The DPR has historically been 'filled with noise' around adjustments for
edits on trades, provision restatements etc which negates it's effectiveness
for him as a control/supervisory report
The risk team appear to have been reacting to p&l 'noise'  - particularly
around transmission adjustments rather than proactively finding booking
solutions - or instructing IT to flex Enpower
Settlements have gained a perception in the market place for 'errors' such
that originators are informing Joe that business is being 'lost' due to our
perceived inability to support transactions - ( must be careful here as no
specifics on errors have been provided )
The risk team ( post Neil Tarling's transfer to EBS ) is relatively junior
and does not possess many 'years' of experience of Power support
James New as Power,Gas and Credit Controller has ( necessarily ) too broad a
role for him to focus on these detailed issues

In mitigation

The recent continental book split ( which is only now being 'settled' in to
the daily process) and the clean up of historic provisions/reserves prior to
Neil Tarling's transfer has exaggerated the base issue around certainty of
daily p&l
Designing an approximate booking process for transmission has not been a top
priority for the risk team in the recent past ( this was either wrong or the
prioritisation call  was not  effectively communicated to Joe ) - and it is
felt that there are no IT resources to code  these solutions to Enpower (
also London struggles to influence Houston IT resource prioritisation )
The settlements infrastructure has been supporting a business volume growth
it is not designed for and supporting acitivity on this platform requires
'skilled' staff ( we are down on resources for Continental Power ) -
continuing growth in volumes are expected along with junior settlement staff
being asked to join Commercial groups
We are  experiencing  generational  change as a result of Barry's move to EBS
- resourcing is James and my top priority

I believe what Joe is asking for, is what we are trying to provide - namely :

upgrade in resourcing in the risk group where we are insisting that the lead
individual has full responsibility, end to end, for the business including
the assessment of operational risk and effectiveness of the business process,
focus on identifying and implementing the necessary quick hit solutions that
eliminates 'manual workarounds' and consequently 'noise' in the process
more proactive communication with Commercial - especially to manage
expectations
a definitive plan for how the strategic upgrade in applications architecture
for MO will benefit/change his business support

However, we are behind in finding the 'right' replacement for Neil ( one with
experience and breadth of view potential ), we have found a continental power
settlemetns manager but he does not arrive until July 3 rd, we have been
struggling with book split when that should have been completed a month ago
and it is taking time to get all the ducks lined up re our plans for
Enlighten/DTL/EnVoice/Autoconfirms/DCAF - hence his frustration about lost
business opportunities NOW!!

Hence I would love to find someone who could deliver the above ( ie be Neil
Tarling's replacement ) or could assist us in
providing and communicating the judgement calls on transmission and other
adjustments - so improving perception of C.P. DPR
prioritising and influencing Enpower development agenda ( along with others )
project manage issues around 'unstable' documentation and settlement process
vis a vis client sensitivity
provide leadership in changing expectations/perceptions

I'm sorry for the length of the note but it may help you in determining a
'best fit' person

Please call if any of the above is unclear.

Mike


The report named: West VaR <http://trv.corp.enron.com/linkFromExcel.asp?report_cd=36&report_name=West+VaR&category_cd=2&category_name=WEST&toc_hide=1&sTV1=2&TV1Exp=Y&current_efct_date=11/09/2001>, published as of 11/09/2001 is now available for viewing on the website.


See attached items (clean and redline), including a general flow chart.

Tax:  I am providing you a copy as a heads up in respect of consideration of Canada tax issues.  Stephen, these issues were previously developed when we closed the PGE master.  Can you provide to me a short memo describing the resolution of the issues (my recollection is that resolution resulted in a post agreement tax letter agreement to be devised by you and tax counsel at Blakes.)

Accounting:  Information purposes.

Joel:  Financing issues.

Others:  Please review and comment on what is hopefully close to a final draft.

Thank you everyone.

Cordially,
Mary Cook
Enron North America Corp.
1400 Smith, 38th Floor, Legal
Houston, Texas 77002-7361
(713) 345-7732
(713) 646-3393 (fax)
mary.cook@enron.com


Start Date: 10/12/01; HourAhead hour: 19;  HourAhead schedule download failed. Manual intervention required.


---------------------- Forwarded by Patrice L Mims/HOU/ECT on 11/30/2000
03:10 PM ---------------------------

	From:  Kevin Ruscitti                           11/30/2000 02:35 PM

To: Patrice L Mims/HOU/ECT@ECT
cc:
Subject: FOM

P,

Please forward this to GD.  Thanks,

Kevin


Please find attached our updated TW Commercial Group's Contact List as of
June 21, 2000.  You will be receiving updated lists when changes are
submitted.

I will have updated cards printed and submitted shortly.

adr


CALENDAR ENTRY:	INVITATION

Description:
	Accenture Presentation

Date:		6/28/2001
Time:		2:00 PM - 5:00 PM (Central Standard Time)

Meeting location:	EB2601@ECT

Chairperson:	Madhup Kumar

Detailed Description:

When: Thursday, June 28, 2001 2:00 PM-5:00 PM (GMT-06:00) Central Time (US & Canada).
Where: EB2601

*~*~*~*~*~*~*~*~*~*

If you have any questions about this meeting, please contact Dan Luciano @ x5-3911.


While mid-September was the target date for mailing the Registration Package
for Prague 2001, we are still awaiting registration materials produced in the
Czech Republic.  They are complete; however, not yet shipped!  After 40 years
of Communism, their picture of efficiency is fuzzy.

Our new mailing target date is "within a couple of weeks".

As previously stated, for Cyber List members, the Registration Form will
reach you as an e-mail attachment the same day we mail the Registration
Package from WPO.  Print it - complete it - fax it back to WPO ASAP.

On behalf of the Committee,

John W. Galston


Attached is the TW weekly report for November 9, 2001.

If you have any questions, please let me know.

Jan Moore
713-345-3858


---------------------- Forwarded by Greg Whalley/HOU/ECT on 03/08/2000 08:08
AM ---------------------------

Rahil Jafry
03/07/2000 03:13 PM
Sent by: Rahil Jafry
To: Louise Kitchen/LON/ECT@ECT, Dave Samuels/LON/ECT@ECT, David
Forster/HOU/ECT@ECT, Paul Goddard/LON/ECT@ECT, Awais Omar/LON/ECT@ECT, Greg
Whalley/HOU/ECT@ECT, Julie Ferrara/HOU/ECT@ECT, Mario Parra
Cardoso/Corp/Enron@Enron, Bob Shults/HOU/ECT@ECT
cc:
Subject: Williams' Energy Marketing and Trading Unit Acquires Equity Interest
In HoustonStreet.com...

---------------------- Forwarded by Rahil Jafry/HOU/ECT on 03/07/2000 03:07
PM ---------------------------

Williams' Energy Marketing and Trading Unit Acquires Equity Interest In
HoustonStreet.com

03/07/2000
PR Newswire
(Copyright (c) 2000, PR Newswire)

  TULSA, Okla., March 7 /PRNewswire/ -- Williams Energy Marketing & Trading
Co., a unit of Williams (NYSE: WMB), announced today that it is acquiring a
minority stake in Houston Street Exchange, a Web-based energy trading
exchange.

  Financial terms of the transaction were not disclosed.
  Since the launch of HoustonStreet.com in July 1999, Houston Street Exchange
has established itself as one of the industry's most dynamic
business-to-business exchanges for wholesale power trading.  HoustonStreet.com
recently announced plans to launch new Web-based platforms for trading crude
and refined products at the wholesale level.

  "Emerging technologies continue to change the way the energy industry
operates, and HoustonStreet.com is on the leading edge of the revolution.
Internet-based trading has exploded, and we believe that this investment will
allow us to play a significant role in the development of new markets and
platforms," said Bill Hobbs, president of Williams Energy Marketing & Trading.

  "The investment in HoustonStreet.com is just one piece of Williams'
eBusiness strategy," added Nancy Gustine, director of eBusiness for Williams
Energy Marketing & Trading.  "By acquiring a stake in this innovator in the
electronic-exchange industry, we can capitalize on our marketing strengths
while helping them transform the trading industry."

  "To have one of the leading energy companies in the country invest in our
trading platform is a direct validation of our technology and our vision for
the future of energy trading" said Frank Getman, president and CEO of Houston
Street Exchange.  "We look forward to Williams' market strength and support in
creating the premier online energy trading platform across multiple
commodities."

  Williams' energy marketing and trading unit buys and sells all types of
energy products nationwide including natural gas and gas liquids, crude oil
and refined products and electricity.  The unit also manages its customers'
exposure to volatile energy prices using comprehensive risk management
services and creates customized energy financing solutions for producers and
end-users.

  About Houston Street Exchange

  Designed by traders for traders, Houston Street Exchange represents the
first Web portal for the trading of wholesale energy products.
HoustonStreet.com provides an online trading engine that allows traders to buy
and sell their energy products faster, more efficiently and more easily than
they do today.  Houston Street Exchange is headquartered in Portsmouth, New
Hampshire, with offices in Houston, Texas.  Houston Street Exchange is a
majority-owned subsidiary of BayCorp Holdings, Ltd. (Amex: MWH).  For more
information, visit Houston Street at www.houstonstreet.com.

  About Williams

  Williams, through its subsidiaries, connects businesses to energy and
communications.  The company delivers innovative, reliable products and
services through its extensive networks of energy-distributing pipelines and
high-speed fiber-optic cables, comprehensive energy services, including
commodity trading and risk management, and business communications systems,
international satellite and fiber-optic video services.  Based in Tulsa,
Okla., Williams operates about $25 billion in assets.  Company information is
available at www.williams.com.

  Portions of this document may constitute forward-looking statements as
defined by Federal law.  Although the company believes any such statements are
based on reasonable assumptions, there is no assurance that actual outcomes
will not be materially different.  Additional information about issues that
could lead to material changes in performance is contained in the company's
annual report or form 10K, which is filed with the Securities Exchange
Commission.

/CONTACT:  Patty McKissick, Media Relations, 918-573-5738, or email,
patty.mckissick@williams.com, or D'Ann Riley, Investor Relations,
918-573-8088, or email, d'ann.riley@williams.com, both of Williams/
15:06 EST

Folder Name: Rahil Jafry
Relevance Score on Scale of 100: 82

______________________________________________________________________

To review or revise your folder, visit http://www.djinteractive.com or
contact Dow Jones Customer Service by e-mail at custom.news@bis.dowjones.com
or by phone at 800-369-7466. (Outside the U.S. and Canada, call 609-452-1511
or contact your local sales representative.)
______________________________________________________________________

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


Hey Everyone,

I reserved the West Point Inn for a December 9th get together.  It
should be a good time for sitting by the fire, drinking egg nog and
white russians, and hanging out with friends.  I hope you all can make
it.  Please let me know.  Also, let me know if you want to invite any
friends.

 <<WPI12k9.doc>>

Sean

 - WPI12k9.doc


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 11/30/2000
09:41 AM ---------------------------

Van Ngo <vngo@rice.edu> on 11/29/2000 10:52:35 PM
To: Vince.J.Kaminski@enron.com
cc:
Subject: Greetings

Dear Vince:

I just wanted to get in touch with you, as my last fall semester here
draws to a close and this is something of a transition point for me.  To
update you on my job search, I have been extended an offer for a position
within Enron's Analyst Program.  The offer was very attractive and I had
numerous things to consider in reaching my decision.  Unfortunately, I
will be declining Enron's offer of employment to take a position in the
Investment Banking Division of Salomon Smith Barney in New York.  My
preference at this point is to live outside of Houston, and although my
hope is also to return to Houston in future, New York offers some
exciting options for me now.  I will be starting there in July of this
summer.  I hope that I will have future opportunities to be an advocate
of Enron and look forward to keeping in touch with you and the Research
Group.

Please give my regards to everyone at the office and wishes for a very
happy holiday season!  Also please feel free to contact me at any time.
I can give you my future contact information when I have it.

Thank you and I hope I'll see you again.

Sincerely,
Van

P.S.  Feel free to forward my news onto Mike Roberts if that would
appropriate.  I didn't have his email with me.


pls print.  thanks. DF
---------------------- Forwarded by Drew Fossum/ET&S/Enron on 04/12/2000
03:09 PM ---------------------------

Shelley Corman
04/12/2000 11:09 AM
To: Tim Aron/ET&S/Enron@ENRON, John Ballentine/FGT/Enron@ENRON, Martha
Benner/ET&S/Enron@ENRON, Eric Benson/ET&S/Enron@ENRON, Donna
Bily/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Lynn Blair/ET&S/Enron@ENRON, Jack
Boatman/FGT/Enron@ENRON, Rob Bradley/Corp/Enron@ENRON, Bob
Chandler/ET&S/Enron@ENRON, Bill Cordes/ET&S/Enron@ENRON,
Shelley_Corman@enron.com, Christi Culwell/FGT/Enron@ENRON, Mary
Darveaux/ET&S/Enron@ENRON, Larry DeRoin/NPNG/Enron@ENRON, Rick
Dietz/ET&S/Enron@ENRON, Dari Dornan/ET&S/Enron@ENRON, John
Dushinske/ET&S/Enron@ENRON, Sharon Farrell/FGT/Enron@ENRON, Drew
Fossum/ET&S/Enron@ENRON, dfulton@enron.com, Lou Geiler/ET&S/Enron@ENRON, John
Goodpasture/OTS/Enron@ENRON, Mary Hain/HOU/ECT@ECT, Bob M
Hall/FGT/Enron@ENRON, Steven Harris/ET&S/Enron@ENRON, Joe
Hartsoe/Corp/Enron@ENRON, Glen Hass/ET&S/Enron@ENRON, Robert
Hayes/FGT/Enron@ENRON, Rod Hayslett/FGT/Enron@ENRON, Bambi
Heckerman/NPNG/Enron@ENRON, Theresa Hess/ET&S/Enron, Robert
Hill/NPNG/Enron@ENRON, Staci Holtzman/FGT/Enron@ENRON, Tamara
Hopkins/ET&S/Enron@ENRON, Stanley Horton/Corp/Enron@Enron, Lee
Huber/ET&S/Enron@ENRON, Martha Janousek/ET&S/Enron@ENRON, Steven
January/ET&S/Enron@ENRON, Anne Jolibois/FGT/Enron@ENRON, Steven J
Kean/HOU/EES@EES, Jeffrey Keeler/Corp/Enron@ENRON, rkilmer@enron.com, Frazier
King/FGT/Enron@ENRON, Steve Kirk/ET&S/Enron@ENRON, Tim
Kissner/ET&S/Enron@ENRON, Laura Lantefield/ET&S/Enron@ENRON, Linda L
Lawrence/HOU/EES@EES, Blair Lichtenwalter/FGT/Enron@ENRON, Elizabeth
Linnell/HOU/EES@EES, Teb Lokey/FGT/Enron@ENRON, Phil Lowry/OTS/Enron@ENRON,
Susan J Mara/SFO/EES@EES, Donna Martens/ET&S/Enron@ENRON, Dorothy
McCoppin/FGT/Enron@ENRON, Mike McGowan/ET&S/Enron@ENRON, Rockford
Meyer/FGT/Enron@ENRON, Mary Kay Miller/ET&S/Enron@ENRON, Michael
Moran/ET&S/Enron@ENRON, Sheila Nacey/ET&S/Enron@ENRON, Michel
Nelson/ET&S/Enron@ENRON, Ray Neppl/NPNG/Enron@ENRON, Robert
Neustaedter/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Christi L
Nicolay/HOU/ECT@ECT, Sarah Novosel/Corp/Enron@ENRON, Maureen
Palmer/HOU/EES@EES, Zelda Paschal/FGT/Enron@ENRON, Geneva
Patterson/NPNG/Enron@ENRON, Maria Pavlou/ET&S/Enron@ENRON, Eileen
Peebles/ET&S/Enron@ENRON, Keith Petersen/ET&S/Enron@ENRON, Peggy
Phillips/FGT/Enron@ENRON, jplace@enron.com, Tony Pryor/ET&S/Enron@ENRON,
Colleen Raker/ET&S/Enron@ENRON, Kathy Ringblom/ET&S/Enron@ENRON, Jenny
Rub/GPGFIN/Enron@Enron, Cynthia Sandherr/Corp/Enron@ENRON, James
Saunders/FGT/Enron@ENRON, Dave Schafer/ET&S/Enron@ENRON, Donna
Scott/FGT/Enron@ENRON, Susan Scott/ET&S/Enron@ENRON, Richard
Shapiro/HOU/EES@EES, Mike G Smith/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Louis
Soldano/ET&S/Enron@ENRON, Lon Stanton/ET&S/Enron@ENRON, James D
Steffes/HOU/EES@EES, James Studebaker/FGT/Enron@ENRON, Jim
Talcott/ET&S/Enron@ENRON, Gina Taylor/HOU/EES@EES, Debbie
Thompson/FGT/Enron@ENRON, Melinda Tosoni/ET&S/Enron@ENRON, Michael Van
Norden/Corp/Enron@ENRON, Stephen Veatch/FGT/Enron@ENRON, Donald
Vignaroli/ET&S/Enron@ENRON, Jody Warner/NPNG/Enron@ENRON, Kimberly
Watson/ET&S/Enron@ENRON, Julia White/ET&S/Enron@ENRON, Kim
Wilkie/ET&S/Enron@ENRON, Jane Wilson/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Michele Winckowski/ET&S/Enron@ENRON
cc:

Subject: FERC Announces New Pipeline Interconnect Policy Today

Please read the attached memo regarding the significant shift in the
Commission's policy.   The policy sets out new interconnection criteria, but
announces that a pipeline may not deny an interconnection on economic grounds.