http://www.consultrci.com

*********************************************************************
Learn more about SCIENTECH's Mergers, Acquisitions, and Convergence in
the US Electric Industry InfoGrid at:
http://www.consultrci.com
*********************************************************************

===============================================================
SCIENTECH IssueAlert, November 10, 2000
Public Service Company of New Mexico to Acquire the Electric Utility
Operations
of Western Resources
By: Jon T. Brock, Director, Strategic and Competitive Intelligence
===============================================================

Public Service Company of New Mexico (PNM) announced yesterday that it
intends to acquire the electric utility operations of Topeka, Kansas based
Western Resources (WR) in a tax-free stock-for-stock transaction.  The
deal will require that WR separate its non-utility assets from its regulated
utility business and spin it off to WR shareholders.

ANALYSIS:  In this day and age of a consolidating electric industry, strategic
combinations are becoming more commonplace.  This announcement took me
by surprise even though the signs were clearly marked for this type of
merger.  WR has had a tough time financially in recent years and has been
seeking a utility operations buyer for some time now.

WR busted up a planned merger between Kansas City based KCPL and UtiliCorp
United by attempting to acquire KCPL in 1996.  At the time WR share price
was above $30.  In 1997 WR share price soared to record highs of more than
$40.  WR attempted to acquire security company ADT but their bid failed.
They sold their interest in ADT for a $800 million profit.  This profit
"masked" a rate review by the Kansas Corporation Commission that at the
time was cutting WR rates by $75 million, reducing earnings by 75 cents
per share.

WR, who obviously had a strategic focus on security, used the profits from
the ADT sale to purchase 85 percent of Protection One, one of the fastest
growing companies in the monitored security business.  Protection One hit
some hard times soon after the purchase by WR and as a result, their stock
tumbled.  WR investors became nervous when state and federal regulators
began discussing terms of the KCPL merger that might not necessarily be
favorable to them.  As a result, some moved their money out of WR and by
1999, WR share price had tumbled to $16 to $17.  In January of this year,
KCPL determined that the share price of WR and the financial considerations
of the merger were not advantageous to KCPL shareholders and called off
the merger.

WR immediately split itself into two organizations (regulated utility
operations
and non-regulated business) with the intent of finding a buyer for the
regulated utility operations.  WR claimed in June of this year that 50
companies were being courted, including international companies, for the
utility operations assets of Kansas Power & Light (KPL) and Kansas Gas
and Electric (KGE).  Putting PNM on that list had not occurred to me.
But it does fit.

SCIENTECH interviewed Jeff Sterba, CEO of PNM, just weeks ago and asked
if the development of alliances, mergers, and acquisitions were a part
of the positive approach to PNM's strategy.  Jeff answered, "Very definitely.
Alliances focused on the things that are core to your business, and that
can bring a sustainable, competitive advantage are essential for us in
this industry.  The criticality of market channels can't be over-emphasized.
Once you have a good market channel, that doesn't mean that everything
you put through that market channel you have to do yourself, or you have
to own. You can expand that reach to customers by forming alliances.  There
are times when acquisitions can also be an important investment if it involves
something that is core to your business. So, both alliances and acquisitions
will be a part of PNM's future."

Just weeks later PNM is buying WR.  Utilizing my rear view mirror now I
see the existing similarities between the assets of WR and PNM.  They both
operate regulated utilities with a generation fuel mix (including nuclear).
They both have multi-commodity in electric and gas.  They both have wholesale
operations.  PNM actually has had a great year financially due in part
to a strong wholesale operation.  PNM net earnings for the nine months
ended Sept. 30, 2000 totaled $86.9 million, or $2.17 per share (diluted)
on total operating revenues of $1.15 billion, compared to earnings of $66.2
million, or $1.60 per share in the first three quarters of 1999.

PNM has adopted a "niche" strategy in the wholesale power market by developing
tailored wholesale power products for its customers.  While some of the
mega-traders in the wholesale market thrive on volume and a standard
commodity,
PNM differentiates itself by creating a tailored power product according
to the needs of the buyer.  PNM has found success in this niche segment
of a large wholesale market.

The merger deal is expected to take between 12 and 15 months to complete.
PNM will inherit approximately $2.9 billion in debt making the total value
of the deal worth $4.4 billion.  Fitch has placed its securities ratings
of PNM on Rating Watch Negative and WR on Rating Watch Evolving.  Fitch
plans to meet with PNM management soon in order to assess the full impact
of the merger.  Apparently some regulatory concern exists in Kansas where
deregulation has not occurred and where some rate inconsistencies exist
between Wichita and Topeka.  This may result in a rate case.  It should
also be noted that Wichita, Kansas currently has an ongoing effort to takeover
(municipalize) the electric system from Western Resources within its city
limits because of the rate disparity between Wichita and Topeka.  Wichita
has about 170,000 power customers -- roughly a fourth of all the customers
served by Western Resources. They represent more than $370 million of KGE's
$580 million in revenues.

PNM will increase its debt but is committed to reducing that debt and has
demonstrated its ability to do so.  PNM has decreased its debt-to-capital
ratio from 72 percent to less than 55 percent in the last seven years.
The headquarters will be based in Albuquerque, NM and the chairman, president,
and chief executive officer will be Jeff Sterba.

===============================================================
Search SCIENTECH's PowerHitter archive to read about our interview with
Jeff Sterba, Chairman, President, and CEO of The Public Service Company
of New Mexico at:
http://www.consultrci.com/web/infostore.nsf/Products/PowerHitter
==============================================================

SCIENTECH is pleased to provide you with your free, daily IssueAlert. Let
us know if we can help you with in-depth analyses or any other SCIENTECH
information products. If you would like to refer a colleague to receive
our free, daily IssueAlerts, please reply to this email and include their
full name and email address or register directly at:

http://www.consultrci.com/web/infostore.nsf/Products/IssueAlert

Sincerely,

Jon T. Brock
Director, Strategic and Competitive Intelligence
jbrock@scientech.com
===============================================================
Feedback regarding SCIENTECH's IssueAlert should be sent to
jbrock@scientech.com
===============================================================

SCIENTECH's IssueAlerts are compiled based on independent analysis by
SCIENTECH
consultants.  The opinions expressed in SCIENTECH's IssueAlerts are not
intended to predict financial performance of companies discussed or to
be the basis for investment decisions of any kind.  SCIENTECH's sole purpose
in publishing its IssueAlerts is to offer an independent perspective regarding
the key events occurring in the energy industry, based on its long-standing
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Copyright 2000.  SCIENTECH, Inc.

If you do not wish to receive any further IssueAlerts from SCIENTECH, please
reply to this message and in the body of the email type "remove."


Mark-

Attached hereto, are the black-lined versions of the ISDA Schedule and CSA,
for your review.  The black-lined versions are against the US ISDA forms.

To view these documents, you may have to save the documents and then open
them in Microsoft Word.

Cheers,

John


Okay, so I'd really like to make a trip up there this weekend ( I haven't spent a weekend in Houston during April and can't imagine why I wouldn't just make the month a clean sweep).  Anyway, I know you're unbelievably busy right now and spending an entire weekend with me would not help you in the least...So, here's my suggestion:

I could either come up Friday night and we could do a late dinner (say 8:30-9:00 ) and then find someplace to hang out for a while or just rent a movie.  On Saturday we could get up, work out, grab something for brunch/lunch and maybe even go to Barton Springs (depending on the weather) and then I could take off and leave you the rest of Saturday and all of Sunday to work (we could even skip the Barton Springs piece).

The other option is to just shift everything a day forward...I'd come up on Saturday and leave Sunday.

Either give me a call or email me if either of these sound good to you.  I will also completely understand if you just really need to work/study this weekend.

Sue

PS - I'm dying for someone to chat with about Vegas...can't really talk to my roommate since it was work related.


I hope the data on these performance reviews is wrong.  I think we need 100%
of reviews done.  Do you agree.
---------------------- Forwarded by John J Lavorato/Corp/Enron on 09/27/2000
09:02 AM ---------------------------

	From:  Sheila Knudsen                           09/14/2000 09:20 PM

To: Mark Frevert/NA/Enron@Enron, David W Delainey/HOU/ECT@ECT, John J
Lavorato/Corp/Enron@Enron
cc: David Oxley/HOU/ECT@ECT

Subject: Status of Completed Performance Reviews

Attached, for your information is a matrix reflecting the status of completed
reviews from the mid-year 2000 process.  This is broken down by ENA
organization units, as they were structured at mid-year, prior to the
creation of EGM and EIM.

I will provide you with a weekly update on the status.

Please call me at X36628 should you have any questions.


Start Date: 4/7/01; HourAhead hour: 15;  No ancillary schedules awarded.
Variances detected.
Variances detected in Generation schedule.
Variances detected in Energy Import/Export schedule.
Variances detected in Load schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001040715.txt

---- Generation Schedule ----
$$$ Variance found in table tblGEN_SCHEDULE.
     Details: (Hour: 15 / Preferred:  20.00 / Final:  21.59)
  TRANS_TYPE: FINAL
  SC_ID: TOSCO
  MKT_TYPE: 2
  TRANS_DATE: 4/7/01
  UNIT_ID: UNCHEM_1_UNIT

---- Energy Import/Export Schedule ----
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 15 / Preferred:  12.00 / Final:  11.98)
  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 4/7/01
  TIE_POINT: PVERDE_5_DEVERS
  INTERCHG_ID: EPMI_CISO_DANTE
  ENGY_TYPE: WHEEL
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 15 / Preferred:  20.00 / Final:  13.60)
  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 4/7/01
  TIE_POINT: FCORNR_5_PSUEDO
  INTERCHG_ID: EPMI_CISO_SCOUT
  ENGY_TYPE: FIRM

---- Load Schedule ----
$$$ Variance found in table tblLoads.
     Details: (Hour: 15 / Preferred:   5.06 / Final:   4.66)
  TRANS_TYPE: FINAL
  LOAD_ID: PGE2
  MKT_TYPE: 2
  TRANS_DATE: 4/7/01
  SC_ID: EPMI
$$$ Variance found in table tblLoads.
     Details: (Hour: 15 / Preferred:  46.21 / Final:  41.83)
  TRANS_TYPE: FINAL
  LOAD_ID: PGE3
  MKT_TYPE: 2
  TRANS_DATE: 4/7/01
  SC_ID: EPMI


Errol -

Have you completed this request and also have you talked to that guy in
London yet about the options book?
---------------------- Forwarded by Jeffrey C Gossett/HOU/ECT on 05/10/2001
02:54 PM ---------------------------

mark.c.austin@us.andersen.com on 05/10/2001 07:42:03 AM
To: Errol.mclaughlin@enron.com
cc: jeffrey.c.gossett@enron.com, sharon.k.smith@us.andersen.com
Subject: March New Deals and Originations Request/1st Qtr Outstanding Info
-2nd REQUEST

Errol,

Per my phone message, please find below the e-mail previously sent on April
14th.  Please review the New Deals and Originations requests as this
information
is currently an extreme priority to us to complete our quarterly gas testing.
Please let me know if there is anything that I can do to assist you or your
team
in gathering this information.

Thank You,

Mark Austin
68680
---------------------- Forwarded by Mark C. Austin on 05/10/2001 07:44 AM
---------------------------

To:   darron.c.giron@enron.com, errol.mclaughlin@enron.com,
      kam.keiser@enron.com, david.baumbach@enron.com,
phillip.m.love@enron.com,
      kathy.reeves@enron.com
cc:   Sharon K. Smith@ANDERSEN WO, jeffrey.c.gossett@enron.com, Kate E.
      Agnew@ANDERSEN WO
Date: 04/14/2001 03:56 PM
From: Mark C. Austin, Houston, 237 / 5262
Subject:  March New Deals and Originations Request/1st Qtr Outstanding Info

Please find below our March request for New Deals and Originations
documentation.  For New Deals, could you please provide the forwards detail?
For Originations, could you please provide the deal ticket, confirmation, and
forwards detail for the deal requested?

Also, please find attached a revised version of our 1st Quarter Testing
Checklist.  Please review this document for outstanding items.  A new tab has
been added which outlines requests for additional 1st quarter New Deals
Detailed
information.  For Curve Shift /Applicable Reports, please provide the top page
for the five largest days within each month.  If the P&L for those days is
attributable to Change in Price or Change in Basis Price, please provide the
curve shift reports for those days.  If the P&L is attibutable to other
reasons,
I would like speak with someone from your region to gain an understanding of
the
drivers and what type of documentation would best reflect these drivers.

This information is a priority to us as it is needed to complete our quarterly
testing for Earnings Release.  Please let me know if you have any questions or
comments.

Best regards,

Mark Austin
ext. 68680

(Embedded image moved to file: pic18706.pcx)

(See attached file: Qtr Testing Checklist.xls)

*******************Internet Email Confidentiality Footer*******************

Privileged/Confidential Information may be contained in this message.  If you
are not the addressee indicated in this message (or responsible for delivery
of
the message to such person), you may not copy or deliver this message to
anyone.
In such case, you should destroy this message and kindly notify the sender by
reply email. Please advise immediately if you or your employer does not
consent
to Internet email for messages of this kind.  Opinions, conclusions and other
information in this message that do not relate to the official business of my
firm shall be understood as neither given nor endorsed by it.

 - pic18706.pcx
 - Qtr Testing Checklist.xls


absolutely

 -----Original Message-----
From: 	Huble, Amanda
Sent:	Thursday, May 24, 2001 8:51 AM
To:	Maggi, Mike
Subject:	RE:

Do you have good taste when it comes to picking out women's clothes?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Thursday, May 24, 2001 8:37 AM
To:	Huble, Amanda
Subject:	RE:

whatever I want

 -----Original Message-----
From: 	Huble, Amanda
Sent:	Thursday, May 24, 2001 8:33 AM
To:	Maggi, Mike
Subject:	RE:

What do you have in mind on picking out?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Thursday, May 24, 2001 8:28 AM
To:	Huble, Amanda
Subject:	RE:

lets go buy another but I get to pick

 -----Original Message-----
From: 	Huble, Amanda
Sent:	Thursday, May 24, 2001 7:49 AM
To:	Maggi, Mike
Subject:	RE:

Thank you!  I'm glad you're pleased!

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Thursday, May 24, 2001 7:49 AM
To:	Huble, Amanda
Subject:

very nice


Hey sugar, call me when you get a chance.  I love and miss you.  How are you feeling?  I hope well.  I will talk to you soon.

Love

The Pigs


Tana,
?
A request has been put in for breakfast at  Buffalo Grill instead of Goode
Co.?
?
Is that o.k. with you?
?
Please let me know.
?
Patti
?


Ben
Drawings were sent to Chuck Newell today.  As you stated, we need Sharon's
CA before Chuck can share technical detail with her.

Regards
Lynn DeKrey

-----Original Message-----
From: Ben.F.Jacoby@enron.com [mailto:Ben.F.Jacoby@enron.com]
Sent: Tuesday, May 08, 2001 4:35 PM
To: DeKrey Lynn
Cc: Monahan Bill; Carlos.Sole@enron.com; Kay.Mann@enron.com;
Jim.Bouillion@enron.com
Subject: Re: Issuance Confidentiality Agreements

Lynn:

Thanks for the e-mail. If Chuck's CA has been executed and returned to you,
then I would assume you can go ahead and send him the drawings. I
understand that if Sharon wants the drawings, she will have to sign a
seperate CA. Sending the drawings to Chuck, covered by his executed CA,
will certainly speed up the process. Let me know if you have any
objections.

Thanks,

Ben


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---------------------- Forwarded by Darron C Giron/HOU/ECT on 01/25/2001
12:24 PM ---------------------------

Greg Couch
01/25/2001 12:09 PM
To: Victor Guggenheim/HOU/ECT@ECT, Darron C Giron/HOU/ECT@ECT
cc:
Subject: RE: You WILL be interested in these sites

---------------------- Forwarded by Greg Couch/HOU/ECT on 01/25/2001 12:09 PM
---------------------------

"Bruce A. Bernard" <bbernard@hypercon.com> on 01/25/2001 11:08:25 AM
To: Greg.Couch@enron.com
cc:
Subject: RE: You WILL be interested in these sites

Cool sites!

Also, unrelated, but interesting as well!

http://antwrp.gsfc.nasa.gov/apod/image/0011/earthlights_dmsp_big.jpg

http://www.wnd.com/news/article.asp?ARTICLE_ID=21384

-BAB

-----Original Message-----
From: Greg.Couch@enron.com [mailto:Greg.Couch@enron.com]
Sent: Monday, January 22, 2001 12:09 PM
To: bbernard@hypercon.com
Subject: You WILL be interested in these sites

www.solow.com   (just wish I had time to get one in before our hunt)
www.rimfirecentral.com    (there is also a link from the main page to a
Mark II discussion forum)


Attached is the Contracts/PLE team on-call schedule for the first half of 2002.
Please note the following procedural changes for the Contracts/PLE on call person...

The on call person will be the primary contact for questions for all three pipes, both contract and capacity release.

The team member on call for the upcoming weekend will also be the person on call during the week.
	 (The on-call period starts Monday morning and continues until the next Monday morning.)

The on-call person will be in the office until 5pm (5:30pm during bid week which is the last week of the month).

If you have any questions or suggestions for improving the process, feel free to call.

Dennis P. Lee
ETS
Gas Logistics
(713) 853-1715
dennis.lee@enron.com


I formally got invited to an Enron function in Washington on October 4th and
5th, so this one is yours.  I'd collect the $1,000 stipend for sure.

I send you the written material on this--let me know if you haven't rec'd in
the next few days.

Thanks,

- Rob

 -----Original Message-----
From:  "Hodson, Timothy A" <hodsonta@skymail.csus.edu>@ENRON
[mailto:IMCEANOTES-+22Hodson+2C+20Timothy+20A+22+20+3Chodsonta+40skymail+2Ecsu
s+2Eedu+3E+40ENRON@ENRON.com]
Sent: Monday, July 16, 2001 8:17 PM
To: Bradley, Rob
Subject: RE: Enron Participation

Bob:

Having Jeff Dasovitch represent Enron would be great with us.  I am sorry,
however, that you will not be able to make it as I had heard great things
about you from and via Chris Castaneda.  You have an impressive and
enthusiastic fan club.

Please accept my thanks for responding to the invitation and arranging for
Jeff.  You've guaranteed the success of the plenary.

Would you send me the direct contact information for Jeff?

Again, thanks

Tim Hodson


---------------------- Forwarded by Darron C Giron/HOU/ECT on 06/28/2000
02:57 PM ---------------------------

Mark.Ebert@broadwing.com on 06/28/2000 01:45:56 PM
To: zambrano@austintexas.org, bphipps@houston.proalt.com,
bonnie.ebert@tasb.org, BryLad5@aol.com, Darron C Giron/HOU/ECT@ECT,
david.long@tdhca.state.tx.us, keykeith@mindspring.com,
george.ewton@unisys.com, heather.hodnett@tdhca.state.tx.us,
bjnelson81@uswest.net, jw@cleartrading.com, kelang@mmm.com,
keith.doran@tdhca.state.tx.us, michael.boettner@cpa.state.tx.us,
psalas@flash.net, SPSMITHCPA@aol.com, swash@tdhca.state.tx.us
cc:
Subject: FW: Branded

>  <<branded.mpeg>> Ouch!!
>

 - branded.mpeg


no


Rob,
Per Jennifer Stewart Medcalf's request, attached are files containing Enron
spends between $5MM-500K, for 1999 and Q1Q2 2000.

Colleen Koenig
Analyst
Global Strategic Sourcing
713.345.5326


Mark, David

We have recently blended the Weather GTC to combine Swaps and Options, as
well as Average Temp + HDD trades.

Please would you let me know whether you approve

Thanks.
Justin
---------------------- Forwarded by Justin Boyd/LON/ECT on 06/12/2000 08:04
---------------------------
   Arfan Aziz                06/12/2000 07:35

To: Justin Boyd/LON/ECT@ECT
cc: Catherine Woolgar/OSL/ECT@ECT, Marie Westin/LON/ECT@ECT, Enron London -
EOL Product Control Group/LON/ECT@ECT, Bjarne Schieldrop/OSL/ECT@ECT

Subject: Re: Weather GTCs and Long Descriptions

Justin

I have made those two changes (as attached).

Can I then go ahead and use the long decsriptions and GTCs as attached ?

Thanks

Arfan

Justin Boyd
06/12/2000 06:35
To: Arfan Aziz/LON/ECT@ECT
cc:

Subject: Re: Weather GTCs and Long Descriptions

Arfan,

in the definition of Strike Level, change "transaction" to "Transaction"
in the definitions of Option Buyer and Option Seller, leave the text as it
stood, i.e. without the latest amendments as currently shown
j

   Arfan Aziz                05/12/2000 18:01

To: Justin Boyd/LON/ECT@ECT
cc: David Forster/Corp/Enron@Enron, Mark Taylor/HOU/ECT@ECT, David
Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Enron London - EOL Product Control
Group/LON/ECT@ECT

Subject: Re: Weather GTCs and Long Descriptions

Justin

Amita has just told me that their is a global effort to standardise the GTCs
for weather trading worldwide, therefore you will need to consult David
Minns  and Mark Taylor before signing off on any GTCs.

Thanks

Arfan

---------------------- Forwarded by Arfan Aziz/LON/ECT on 05/12/2000 18:01
---------------------------
   Arfan Aziz                05/12/2000 16:10

To: Justin Boyd/LON/ECT@ECT
cc: Catherine Woolgar/OSL/ECT@ECT, Marie Westin/LON/ECT@ECT

Subject: Re: Weather GTCs and Long Descriptions

Hopefully amended for the last time.

Arfan

---------------------- Forwarded by Arfan Aziz/LON/ECT on 05/12/2000 16:12
---------------------------

Catherine Woolgar
05/12/2000 16:09
To: Enron London - EOL Product Control Group/LON/ECT@ECT
cc: Marie Westin/LON/ECT@ECT

Subject: Re: Weather GTCs and Long Descriptions

OK, I think we are nearly there..... here are the amended documents. I had a
double check with the old docs and found that we needed to have a defenition
for data source (especially in the case of the UK Met offices website - there
are 2 data sets for max and min!!!). This has been added and the AVT
defenition changed.

In the product long descriptions for other European locations: "The Data
Source shall be obtained from the relevant reporting service" (might have to
get better wording from Justin for this).

Cheers

Catherine


-----Original Message-----
From: 	Webb, Jay
Sent:	Monday, October 29, 2001 2:31 PM
To:	Kitchen, Louise; Taylor, Mark E (Legal)
Subject:	Last Year trades - Top 50 counterparties - US/Canadian Gas/Power


Ian,

Thanx looks good. What I was really looking for was the relationship between Sumas and each of those points for the N-M and A-O strips.

Can you put these graphs together for me.

Nov-Mar
Sumas vs. Aeco
Sumas vs. Rockies
Sumas vs. San Juan
Sumas vs. Malin
Sumas vs. Socal

Apr-Oct
Sumas vs. Aeco
Sumas vs. Rockies
Sumas vs. San Juan
Sumas vs. Malin
Sumas vs. Socal

Chris 713-853-1663

-----Original Message-----
From: Cooke, Ian
Sent: Sun 9/9/2001 4:30 PM
To: Dorland, Chris
Cc:
Subject: Nov 01 -Oct 02 Spread and Price Data

Let me know if you require anything else.

<<Spreads Data.xls>>

Ian

(403) 974-6770


In This Email:
Roses are red...
Great Wines and Gifts
Wine and Romance
Wine Team Picks
In the Cork Boards: Red Wine and Headaches

Roses are red...

...chocolates are sweet. And when it comes to Valentine's Day, bubbly
can't be beat. Et voila: come February 14, we recommend Champagne &
Truffles, the most romantically indulgent couple since Scott
and Zelda.

On the other hand, if hearts and roses make you think red, Merlot &
Chocolate will surpass the most beautifully bittersweet ecstasy
you're capable of conjuring.

After that (and a glance at the selections offered below), you and
your love dove are on your own. Swirl, sniff, sip, taste, savor,
relax, and enjoy.

To learn more about each item listed below, simply click on its name.
_____________________________________________________________________

Great Wines and Gifts

Heart Stopper, $18.00
This hand-cut, valentine-shaped stopper is a wonderful gift for a
wine lover. No invitation to cardiac arrest, it nevertheless shows
your affection for saving wine. Arrives boxed.

Toujours Provence, $49.00
Few places are as seductive as Provence but if you have to stay home,
this lovely, lavender-scented collection of treats will transport you
in spirit to the south of France. It includes a bottle of Cotes du
Ventoux, olives with Provencal herbs, French sausages, Dijon mustard,
toasts, sweets, and a rustic market basket.

Addicted to Love, $29.00
This wonderfully suggestive love kit includes a luscious Cabernet
Sauvignon, an Aromatherapy candle called "Seduce," a container of
Chocoholics body frosting, and a paintbrush. As the wine's label
recommends: Light the flame, swirl the wine, spread the sweetness,
and taste the love.

Champagne and Truffles, $49.00
If Champagne is the most luxurious wine and chocolate is the most
sensual sweet ... well, you do the V-Day math. In the realm of
hedonistic indulgence, this pairing of exotic Vosges Haut Chocolat
truffles with a rich Medot Brut Champagne is off the charts.

Two to Tango, $24.00
You can sip a grande latte by yourself, go to work, or fry an egg by
yourself. You can answer all your email on your own. There are a lot
of things you can do alone. But a solo tango? Ay caramba, NEVER! So
put the moves on your dance partner with this ripe and sultry tasting
trip to South America.

White Hot Love, $35.00
When it's freezing in the Northern Hemisphere, it's steamy Down
Under -- so we've put together a pair of white wines to stoke the
February flames: a stylish Sauvignon Blanc from New Zealand, full
of fruit and finesse, and a crisp, satisfying Aussie Chardonnay.

_____________________________________________________________________

Wine and Romance

Everybody seems to agree that wine and romance go hand in hand, so we
asked our Wine Team - a seasoned group of experts boasting 150 years
of collective experience - exactly why and how love and wine are
linked. Here are their professional observations.

Lee Codding:
Wine is made with care and passion, which can't help but transmit
itself to the drinker. It's only natural for wine to have a central
place in romance, because love is an essential ingredient in
its production.

Peter Granoff:
Candy may be dandy and liquor quicker, but nothing extends a romantic
moment like a fine wine.

Maire Murphy:
When we describe wine, we describe its body, texture, taste, and
experience. That, in itself, is romantic.

Diana Jacklich:
Ever wonder why wine language is rife with such adjectives as sexy,
seductive, smooth, velvety, and lush? Because wine is one of the last
legal sybaritic pursuits.

Carolyn Dempsey:
Wine evokes sensory pleasure and sustenance, which lift the spirit
and return us to what really matters. Whether it's the nourishment of
breaking bread and sharing stories, or simply the nurturing nature of
wine itself (which eases the mind and soothes the soul), it's about
taking time to savor the beautiful.

Maire Murphy:
There exist some dessert wines that must be sipped only from a
woman's navel. If that isn't romantic, what is?

Julian Davies:
Of course, no woman in her right mind would drop her laundry without
half a bottle of '47 Cheval Blanc down her....

Peter Granoff:
Wine lovers are wrong when they say that great wine is like sex.
Great wine is sex. The delicacy and tenderness involved in opening a
fine old bottle of wine is a kind of foreplay, and great wine, like
the act of love, engages us on many levels: sensory, emotional,
and intellectual.

Diana Jacklich:
"The soft extractive note of an aged cork being withdrawn has the
true sound of a man opening his heart" (William Samuel Benwell).

Jeff Prather:
Wine makes us giddy with youthful energy; it makes us feel warm and
fuzzy; it causes us to say silly things and mean them; it reduces our
inhibitions; it's a sensual magnifier; it's a powerful muse; it makes
everything taste better. Oh, did I say wine? Well then, wine must be
bottled love.

Peter Granoff:
Romance engages all the senses -- as does a fluted glass of
Champagne, especially when savored by candlelight. It's a sensory
treat in all respects: It sparkles like the eyes of your beloved,
offers the same delight to the nose as the object of your affection,
and when you bring it to your lips....

Taking Peter's cue, Tim Gaiser provides further dining advice:
If Champagne is our most romantic wine, there's no better occasion
than Valentine's Day for a Champagne dinner. It enables you to (1)
serve everything at the same time and (2) not do any cooking
whatsoever. Just pick up a bottle or two of your favorite bubbly,
plus an assortment of caviar, cheeses, pates, fresh shellfish, smoked
trout/salmon/scallops, chocolates, and any other finger food that
strikes your fancy. Invite that special someone to the table, open
the first bottle, and simply let nature, romance, intimate
conversation, true love, and amateur wrestling take their course.

For ideas on which wine to have in your corner, check out wine.com's
full selection of Champagne and sparkling wine.

_____________________________________________________________________

Wine Team Picks: Peter Marks on Super Bowl Wines

If you're hosting a big bash on Super Sunday, check out our Super
Sixer. But if you're just looking for a bottle to bring to a party,
here are five great possibilities. There's something bubbly (the
Cremant de Limoux), something familiar (Chard), something unusual (a
South African blend), something old (the old-vines Zin), and
something new (the '99 Rhone).

1997 Dom. J. Laurens Cremant de Limoux Clos des Demoiselles Tete de
Cuvee, France, $15.00
1997 Beaucanon Chardonnay Reserve, Napa Valley, California, $12.00
1999 Le Riche Merlot-Cabernet Sauvignon, Stellenbosch,
South Africa, $16.00
1998 Dry Creek Zinfandel Old Vines, Sonoma County,
California, $18.00
1999 Andre Brunel Cotes du Rhone Cuvee Sommelongue, Southern Rhone,
France, $9.95

_____________________________________________________________________

In the Cork Boards: Red Wine and Headaches

Does wine make your head hurt? It does for MJBNYC. "Whenever I drink
California wine ... a migrane is triggered and I wind up in severe
pain," he wrote recently on the wine.com Cork Boards. "Does anyone
know what is present -- or not -- in CA wine that initiates my bad
reaction?" Cork Boarders have already presented a variety of
theories. Click here to join the discussion.

_____________________________________________________________________

TO UNSUBSCRIBE FROM THIS NEWSLETTER, go to:
http://wine1.m0.net/m/u/vin/vv.asp?e=jdasovic%40enron.com


----- Forwarded by Tana Jones/HOU/ECT on 02/21/2001 05:14 PM -----

	Walter Guidroz@ENRON
	02/21/2001 05:09 PM

		 To: Karen Lambert/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Samuel
Schott/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Brant Reves/HOU/ECT@ECT, Debbie
R Brackett/HOU/ECT@ECT, David Hardy/LON/ECT@ECT, Lesli Campbell/HOU/ECT@ECT,
Cynthia Clark/Corp/Enron@ENRON, Enron Europe Global Contracts and Facilities,
Enron Europe Global CounterParty/LON/ECT@ECT, Stephanie Sever/HOU/ECT@ECT,
Tom Moran/HOU/ECT@ECT, Claudia Clark/HOU/ECT@ECT, William S
Bradford/HOU/ECT@ECT, Lisa Lees/HOU/ECT@ECT, Juana Fayett/Corp/Enron@Enron,
Jana Morse/Corp/Enron@Enron, Trang Le/HOU/ECT@ECT, Paul Maley/LON/ECT@ECT,
Sonya Clarke/LON/ECT@ECT, Lee Munden/LON/ECT@ECT, Tim Davies/LON/ECT@ECT,
Karen O'Day/NA/Enron@Enron, Tanya Rohauer/HOU/ECT@ECT, Kelly
Lombardi/NA/Enron@Enron, Brian Lindsay/Enron Communications@Enron
Communications, EOL Call Center, Bernice Rodriguez/HOU/ECT@ECT, Bill D
Hare/HOU/ECT@ect
		 cc:
		 Subject: EOL approvals, 2-21-01

Please see attached.


Hi Sara, Anna and I have recommended that you call her to give your
perspective on an outstanding concern that Anna maintains with respect to the
Assignment Agreement.  Anna and her MD want specifically to discuss the
substance of the Exhibit that you would like to attach to the Agreement.
Call me first so that if I am not at lunch (I am leaving for a late lunch in
the next fifteen minutes) I can join in.  Otherwise, please call Anna
directly at 212-272-2727.

Cheryl Nelson
Senior Counsel
EB3816
(713) 345-4693


I got it.  Thanks

mflewellyn@columbiaenergygroup.com on 03/15/2000 01:35:06 PM
To: " - *chris.germany@enron.com" <chris.germany@enron.com>
cc:
Subject: storage schedules

Chris - I wasn't sure who to send the storage schedules to, so I figured if I
sent them to you and Colleen I'm covered.  Please give me a call if you have
an
questions.

Thanks,

Melissa
---------------------- Forwarded by Melissa Flewellyn/CES/ColumbiaGas on
03/15/2000 02:32 PM ---------------------------

Melissa Flewellyn
03/15/2000 02:10 PM

To: colleen.sullivan@enron.com@internet
cc:
Subject: storage schedules

Colleen,

Attached is an excel spreadsheet detailing our desired storage proxy schedules
for COH and AGL.  If you have any questions or wish to discuss these, please
give me a call.

 - storage proxies.xls


Nom change effective 6/27/2000

---------------------- Forwarded by Beverly Beaty/HOU/ECT on 06/26/2000 08:11
AM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Jan Svajian" <Jan.Svajian@dvn.com>
06/26/2000 07:52 AM

To: <Beverly.beaty@enron.com>
cc:
Subject: Nom Change for New Well Haynes 21 on Tejas

See Attached.

 - Enron Nom Change.xls


Could you fill out any work request forms that have not been completed?  I'll
have Julie update them into the db so we can keep track.  An electronic copy
is preferred so we can save time typing one.

JD


John,

Thanks.

Vince

"John H Herbert" <jhh1@email.msn.com> on 07/14/2000 11:00:18 AM
To: "Vince J Kaminski" <Vince_J_Kaminski@enron.com>
cc:
Subject: See page 1

Best regards,

JHHerbert

 - gd.pdf


Attached are the 2000 Weekly Costs reports.  Due to the Christmas Holidays,
next report will be issued 12/28/99.  Sorry for any inconvenience that this
may cause.  If you have nay questions please give me a call.  Thanks Amy
713-853-7805


i got two tickets on the 50


Anthony, I have no idea what that questions means...

	Anthony Campos
	07/27/2000 02:35 PM

		 To: Tana Jones/HOU/ECT@ECT
		 cc: Mary Solmonson/HOU/ECT@ECT, Linda S Bryan/HOU/ECT@ECT, Stacey
Richardson/HOU/ECT@ECT, Bridgette Anderson/Corp/Enron@ENRON
		 Subject: EOL -- New Financial Product Types

Tana,

In light of recent decisions regarding EOL procedures, your assistance in
answering the following questions is requested.  Since the new products are
already being traded, I would appreciate your answers at your earliest
convenience.

Thank You,
Anthony

---------------------- Forwarded by Anthony Campos/HOU/ECT on 07/27/2000
02:23 PM ---------------------------
From: Karen Lambert on 07/27/2000 01:58 PM
To: Anthony Campos/HOU/ECT@ECT
cc: Stacey Richardson/HOU/ECT@ECT, Banders@enron.com, Linda S
Bryan/HOU/ECT@ECT
Subject: EOL -- New Financial Product Types

Should EOL copy existing Financial Master contracts into the new financial
product categories?
Where a previous contract restriction exists, should EOL copy existing
Financial Master contracts into those previously restricted financial
categories or leave the category blank without a Financial Master?


You are not just buying a pig; you are buying a brighter future for the youth
of Texas.  When you purchase a pig from the Houston Livestock Show and Rodeo
(HLS&R), Junior Swine Auction Committee, all proceeds will go into the HLS&R
Scholarship Fund benefiting Texas youth.  Pigs are $600 each and are
approximately 225 lb. gross weight.  The pigs can either be donated to The
Houston Food Bank or delivered to a processor for your personal use.   To
participate please contact Jessie Jewell at 5-4983.  Because this is a
tax-deductible contribution, Enron will match your donation dollar for
dollar.  Click here to print out the Matching Gift form.

Individuals donating $600 or more are eligible for an invitation for two to
the Whole Hog Cookers BBQ Tent at the Championship BBQ Cook-off held February
9 and 10.  Individuals donating $600 or more can also receive an invitation
for two to the Swine Auction Breakfast and Swine Auction on February 28.
Cash contributions of any amount are gladly accepted.


CALENDAR ENTRY:	APPOINTMENT

Description:
	TMS Weekly Mtg. Conference room EB4102

Date:		9/19/2001
Time:		1:30 PM - 3:00 PM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


Hi, my name is Kay, and I'm a Diet Coke addict.

From: Suzanne Adams@ECT on 08/22/2000 05:21 PM
To: Kay Mann/Corp/Enron@ENRON
cc:

Subject: Re: Edgecombe Energy and Capacity Contract

Don't you drink Diet Coke?

	Kay Mann@ENRON
	08/22/2000 05:19 PM

		 To: Suzanne Adams/HOU/ECT@ECT
		 cc:
		 Subject: Re: Edgecombe Energy and Capacity Contract

At least drinks and coffee. Thanks for thinking of it.

From: Suzanne Adams@ECT on 08/22/2000 05:12 PM
To: Kay Mann/Corp/Enron@ENRON
cc:

Subject: Re: Edgecombe Energy and Capacity Contract

I sent an email to everyone (actually just replied to your email but to all)
that the meeting will be held in 27C1.

Since it's a 2 hour meeting, would you like coffee and soft drinks and
breakfast food?  Please advise.

	Kay Mann@ENRON
	08/22/2000 05:06 PM

		 To: John Moore/Corp/Enron@Enron, Christi L Nicolay/HOU/ECT@ECT, Mitch
Robinson/Corp/Enron@Enron, Larry Soderquist/HOU/ECT@ECT, Herman
Manis/Corp/Enron@ENRON, Matthew F Gockerman/HOU/ECT@ECT
		 cc: Heather Kroll/HOU/ECT@ECT, Ozzie Pagan/HOU/ECT@ECT, (bcc: Suzanne
Adams/HOU/ECT)
		 Subject: Edgecombe Energy and Capacity Contract

In an effort to pull the pieces together, a meeting has been scheduled to
discuss the draft energy and capacity contract (formerly the PPA).  It is
scheduled for Thursday, August 24th, at 900am.  We are still in the process
of locating a conference room, so the location is TBD.

Thanks,

Kay

Here are the most recent comments from VEPCO:

Some of you may have received this already.  I have not compared it against
what we last sent them.


The amount of 209,139.52 has been sent and the fed reference number is 1876.  Please let me know if you have any questions.

Thank you,
Ramona Rodriguez
57323

    01445398
01/14/02    NON-CHECK FINANCIAL DATA FOR REF. #    30201445398
ACCOUNT: 40781075      ENRON CORP-ECT CASH SVC
            AMOUNT      POST DATE  VALUE DATE   CODE      BATCH/TRACK       DUP
        209,139.52       01/14/02    01/14/02    479     650000000571         1
TRANSACTION DESCRIPTION
SAME DAY DR TRANSFER
         GID:LCT20141113900
         FED20020114B1Q8021C001876
         USER REF:TWS000378430
         REF:      TWS000378430
         ORDER:    ENA CASH SERVICES
         CR BK ID: 021000021
         CR BK:    JPMORGAN CHASE BANK FORMERLY CHASE
          MANHATTAN BANK,N.A NEW YORK, NY 10004
         BENEF:    323009980 ENTERGY KOCH
         DETAILS:PREPAY JAN POWER
         INSTRUCT DATE:01/14/02 ADVICE TYPE:MAIL

ENTER  (1) YESTERDAY    (2) TODAY        (3) SEARCH       (4) SERIAL
       (5) REFERENCE    (6) HISTORICAL   (7) TRANS FLOAT  (8) BACK VALUE


----- Forwarded by Sara Shackleton/HOU/ECT on 12/11/2000 08:12 AM -----

	"P. Keith Daigle" <pkdaigle@neosoft.com>
	12/08/2000 05:15 PM
	Please respond to pkdaigle

		 To: Shackleton Sara <Sara.Shackleton@enron.com>
		 cc:
		 Subject: [Fwd: Fw: Resemblance or Coincidence?]

Return-Path: <davbarb@bellsouth.net>
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Dec 2000 00:58:52 -0500 (EST)
Message-ID: <002901c06012$f535de80$dbd54fd8@soppge.supply.ge.com>
From: "David Doherty, Jr." <davbarb@bellsouth.net>
To: "Zechenelly, Dan" <danz@stp.pa.st-tammany.la.us>,        "Wooley, Rick"
<syntor@HOTMAIL.COM>,        "Wooley, Kathryn" <kwooley@gardere.com>,
"Kathryn Wooley (home)" <k_wool@HOTMAIL.COM>,        "John B Wells"
<JohnLawEsq@email.msn.com>,        "Waterman, Sandy & Felicia"
<sandfel@bellsouth.net>,        "Waterman, Sandy" <Elecsandy@aol.com>,
"Stefancik, Steve" <stefanck@neosoft.com>,        "Slobodzian, Mike"
<mike.slobodzian@supply.ge.com>,        "Sirman, Barry"
<bassabine@aol.com>,        "Sirman, Anita" <woodyfnaws@aol.com>,
"Shields, Vickie" <VSQUEALS@aol.com>,        "Sayler, Dee"
<dee.sayler@supply.ge.com>,        "Salter, Kim"
<kim@stp.pa.st-tammany.la.us>,        "Power Panels, Inc"
<powerpanels@petronet.net>,        "Myers, Dan & Mary Ann"
<marydan@apci.net>,        "Joe Mitternight" <pjmitt@msn.com>,        "Lyons,
Johnny" <JLYONS1500@aol.com>,        "Law, Bart"
<bart.law@supply.ge.com>,        "Law (home), Bart & Sherry"
<blaw@flash.net>,        "Lassus, Lenny" <lennylassus@cs.com>,        "Lenny
Lassus" <lenny.lassus@supply.ge.com>,        "'Kimberly, Lorrie'"
<lkimberly@FiskCorp.com>,        "Husson, Scott"
<scotthusson@HOTMAIL.COM>,        "Humphrey, Valerie"
<valerie.humphrey@supply.ge.com>,        "Hueschen, Diane"
<diane@stp.pa.st-tammany.la.us>,        "Hudson, William"
<william.hudson@supply.ge.com>,        "Howell, Louis"
<w5dxb@aol.com>,        "Aimee & Mike Houghtalen"
<mike1aimee@aol.com>,        "Hopkins, Craig" <CraigHopkins@webtv.net>,
 "Hilker, Jay" <hhilker@gaylordchem.com>,        "Herrington, Drew"
<dherrington@protier.com>,        "Hammons, Marie"
<maire@hammonsonline.com>,        "Gulf States Electrical Sales"
<gses@mail.lig.bellsouth.net>,        "Goehlich, Brenda"
<brendag@mediaaudit.com>,        "General Power & Control"
<gpccorp@aol.com>,        "Gayda, Robert"
<robert.gayda@supply.ge.com>,        "Gautreaux, Jim"
<jim.gautreaux@supply.ge.com>,        "Frosch, Mark"
<mark.frosch@supply.ge.com>,        "Fraiser, Phil"
<Philip_f@deq.state.la.us>,        "Fox , Dan" <danfox@bellsouth.net>,
"Faust, Lisa" <lisa.faust@supply.ge.com>,        "Faust (home), Lisa"
<supplybell@aol.com>,        "Dussouy, John" <dussouy@neosoft.com>,
"Doiron, Cary (SUPP)" <Cary.Doiron@gesupply.com>,        "Doherty, Dave
(SUPP)" <Dave.Doherty@gesupply.com>,        "Dodds, Barbara"
<barb@neosoft.com>,        "Dixon, Steve & Colleen"
<SCADixon@bellsouth.net>,        "Dimicelli (home), Bobby"
<LINDA_BOBBYD@YAHOO.COM>,        "Dimiceli, Bobby"
<bobby.dimiceli@supply.ge.com>,        "Keith Daigle"
<pkdaigle@neosoft.com>,        "Crain, Betty & Floyd"
<bjcwfc@aol.com>,        "Clark-Bernard, Andrea" <CA70461@aol.com>,
"Clark, Sonny" <clarkw@navo.navy.mil>,        "Chotin, Scott"
<JSChotin@aol.com>, <CBertNow@aol.com>,        "Cagle, Roger & Laura"
<RCAGLE1@bellsouth.net>,        "Burns, Tommie"
<tkay@stp.pa.st-tammany.la.us>,        "Burleigh, Robert"
<robert.burleigh@supply.ge.com>,        "Jeanne Buffet"
<jeannepb@bellsouth.net>,        "Brown, Mike and Dana"
<3browns@attglobal.net>,        "Breuhl (work), Rob"
<robbreuhl@comm.net>,        "Billiott, Henry" <billiot10@aol.com>, "Beryl"
<bjd030652@aol.com>,        "Bercaw, Dan & Sue" <bercaw@ibm.net>,
"Bellisario, Gene" <elbellisario@mcdermott.com>,        "Bellisario, Gene &
Mary K." <genebmaryk@aol.com>,        "Kevin Barkmier"
<KevinBark@aol.com>,        "Balducci, Alex & Kim"
<abalducci@i-55.com>,        "Bagot, Rita" <rita.bagot@supply.ge.com>,
"Bagert, Barry" <barry@stp.pa.st-tammany.la.us>,        "Authement, Bruce"
<bruce@coolwebz.com>, <AndreaCBernard@aol.com>,        "Abella, Lorrie"
<lorrie@stp.pa.st-tammany.la.us>
Subject: Fw: Resemblance or Coincidence?
Date: Wed, 6 Dec 2000 23:59:46 -0600
MIME-Version: 1.0
Content-Type: multipart/mixed;
boundary="----=_NextPart_000_0014_01C05FE0.9C08A860"
X-Priority: 3
X-MSMail-Priority: Normal
X-Mailer: Microsoft Outlook Express 5.00.2615.200
X-MimeOLE: Produced By Microsoft MimeOLE V5.00.2615.200
X-Airmail-Delivered: Thu, 7 Dec 2000 00:05:31 -0600 (CST)
X-Airmail-Spooled:   Thu, 7 Dec 2000 00:05:29 -0600 (CST)
X-Mozilla-Status2: 00000000

 - mayberry.jpg


Dan Carrie (214-875-9351) is the accountant at TXU that will have wire information.


FYI -- David Leboe in Investor Relations authored the attachment.
-

---------------------- Forwarded by Christi L Nicolay/HOU/ECT on 07/06/2001
03:54 PM ---------------------------
From: Greg Caudell/ENRON@enronXgate on 07/02/2001 01:53 PM
To: Christi L Nicolay/HOU/ECT@ECT
cc:

Subject: Check this...

I incorporated some comments and info provided by IR.


The speaker presentations are now available at the Enron Law Conference
website at http://lawconference.corp.enron.com/. These materials can be found
under Presentation Handouts or the Conference Schedule. Click the icon to the
left of the presentation which will launch the application. Once the file is
visible, you can navigate to the various slides using the Page Up and Page
Down keys or print the file. To return to the Handouts Menu use the back
arrow. If you are not able to access the website from your location, please
contact me and the files can be sent via e-mail. These materials will be
available on the website until next year's conference. The CLE Committee
hopes you enjoyed your first "Binder Free" conference!

Paulette Obrecht
Legal Project Coordinator
713-646-6305


Please see attached regarding Central Power & Light.  I cannot believe this!!!

Debra Perlingiere
Enron North America Corp.
1400 Smith Street, EB 3885
Houston, Texas 77002
dperlin@enron.com
Phone 713-853-7658
Fax  713-646-3490

----- Forwarded by Debra Perlingiere/HOU/ECT on 07/12/2000 09:14 AM -----

	"Lewis, Dana" <dlewis@csw.com>
	07/11/2000 06:17 PM

		 To: "'Debra.Perlingiere@enron.com'" <Debra.Perlingiere@enron.com>
		 cc:
		 Subject: RE: FW: General Terms and Conditions Contract with Central Power &
Light Company

Debra,

I'm not sure we wouldn't prefer to have it kept as Houston Pipe Line
Company.  We have been filing with the regulatory bodies all expenses under
HPL, since November of '99.  So, what I would like to have happen, even if
it was a mistake, is have the contract assigned to HPL.  This will keep our
records with the PUCT and FERC the same.  In either case, I will still need
documentation in our contract files to show the assignment.  I appreciate
your help, and please let me know what your thoughts are on this matter.

Dana K. Lewis
Supervisor, Gas Contract Administration
Phone:  (214) 777-2019
Fax:  (214) 981-9713
Email: DLewis@csw.com

> ----------
> From:
> Debra.Perlingiere@enron.com[SMTP:Debra.Perlingiere@enron.com]
> Sent:  Tuesday, July 11, 2000 5:15 PM
> To:  dlewis@exchange.csw.com
> Subject:  RE: FW: General Terms and Conditions Contract with Central
> Power & Light Company
>
>
> Thank you, I have received your fax and directed it to our contract
> administrator.  I agree, it should be billed from Enron North America
> (formerly ECT).  I am pushing to cure this error this week.  I will keep
> you informed of our progress.   Thanks for your patience.
>
>
> Best Regards,
> Debra Perlingiere
> Enron North America Corp.
> 1400 Smith Street, EB 3885
> Houston, Texas 77002
> dperlin@enron.com
> Phone 713-853-7658
> Fax  713-646-3490
>
>


GE wants a letter outlining the structure of the deal (at the 10000 ft
level), who owns which companies, and who has payment obligations to them.
Could you draft a letter to that effect for my review?

Thanks,

Kay


Your review and approval of the following product type in the EOL Datamanager
is needed (for directions on approval , please see steps for approval at the
bottom of this e-mail). If you have any questions please call me at ext.
58986.
********* DO NOT APPROVE PRODUCT TYPES BETWEEN THE HOURS OF 6AM -
11AM***********

Trader: William Stuart

Apr-Oct product
A currency Transaction with Enron North America Corp. (&ENA8), under which
either (A) for the case in which Counterparty submits an offer to buy from
ENA, Counterparty shall pay a Fixed Amount of CAD and shall receive the
Floating Amount of CAD, or (B) for the case in which Counterparty submits an
offer to sell to ENA, Counterparty shall receive the Fixed Amount of CAD and
shall pay the Floating Amount of CAD. Each calendar month during the term of
the Transaction will be a Calculation Period; provided however, that in the
event the term of the Transaction is a single future date, the Calculation
Period shall be the date set forth in the Product description on the Website.
The Notional Amount per Calculation Period shall equal the USD Amount
submitted by the Counterparty via the Website divided by the number of
Calculation Periods during the term of the Transaction. The Fixed Amount of
CAD payable per Calculation Period shall equal the product of the Notional
Amount per Calculation Period multiplied by the Fixed Forward Rate, which
shall be the price submitted by the Counterparty via the Website. The
Floating Amount of CAD payable per Calculation Period shall equal the product
of the Notional Amount per Calculation Period multiplied by the Floating
Settlement Rate.
The Payment Date shall be the Business Day following the Valuation Date. The
Valuation Date for each Calculation Period shall be the first Business Day of
such Calculation Period.
The term of the Transaction shall be from the Effective Date of 02 Apr 2001
to the Termination Date of 01 Oct 2001.
The Floating Settlement Rate for each Calculation Period shall be the USD/CAD
rate equal to the rate set forth on Reuters page BOFC under the headings
'Bank of Canada'; 'Canadian Dollar' Exchange rates'; 'Noon', opposite the
caption 'USD' as of 12:00 p.m. noon, Toronto time, on the Valuation Date.
The price is quoted in CAD per USD. CAD will be the Settlement Currency.

May 1, 2001 (single day)
A currency Transaction with Enron North America Corp. (&ENA8), under which
either (A) for the case in which Counterparty submits an offer to buy from
ENA, Counterparty shall pay a Fixed Amount of CAD and shall receive the
Floating Amount of CAD, or (B) for the case in which Counterparty submits an
offer to sell to ENA, Counterparty shall receive the Fixed Amount of CAD and
shall pay the Floating Amount of CAD. Each calendar month during the term of
the Transaction will be a Calculation Period; provided however, that in the
event the term of the Transaction is a single future date, the Calculation
Period shall be the date set forth in the Product description on the Website.
The Notional Amount per Calculation Period shall equal the USD Amount
submitted by the Counterparty via the Website divided by the number of
Calculation Periods during the term of the Transaction. The Fixed Amount of
CAD payable per Calculation Period shall equal the product of the Notional
Amount per Calculation Period multiplied by the Fixed Forward Rate, which
shall be the price submitted by the Counterparty via the Website. The
Floating Amount of CAD payable per Calculation Period shall equal the product
of the Notional Amount per Calculation Period multiplied by the Floating
Settlement Rate.
The Payment Date shall be the Business Day following the Valuation Date. The
Valuation Date shall be the date set forth in the Product description on the
Website.
The term of the Transaction shall be the date set forth in the Product
description on the Website.
The Floating Settlement Rate for each Calculation Period shall be the USD/CAD
rate equal to the rate set forth on Reuters page BOFC under the headings
'Bank of Canada'; 'Canadian Dollar' Exchange rates'; 'Noon', opposite the
caption 'USD' as of 12:00 p.m. noon, Toronto time, on the Valuation Date.
The price is quoted in CAD per USD. CAD will be the Settlement Currency.
==============================================================================
=====

STEPS FOR APPROVAL:

click the  START button
select  PROGRAMS
select  TEST APPLICATIONS
select ENRONONLINE CLUSTER(PROD)
 PROCEED WITH USUAL LOGIN/PASSWORD
click the Enron Online Production Cluster "START" button
select EnronOnLine (this is the EOL Datamanager)
 PROCEED WITH EOL LOGIN/PASSWORD
click on the "+" for EnronOnLine
click on the "+" for Product Types
click on the "+" for "Partially Approved"
select the product requiring review as stated in e-mail above
Right "mouse" click on "properties" to view product set-up

TO APPROVE:  Right mouse click on "Approved"


Cheryl:

I just finished a conversation with Mara Alexander re:  Cargill-Alliant,
LLC.  She was inquiring whether we could add the weather rep (for the Trade
Option Exemption) to that amendment since it was not included in the Master
Agreement between ENA and Cargill, Incorporated.  I have not actually
reviewed that master but if she is right, we should not have a problem
complying with the request.  SS

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


Lets get together for lunch.


i will try to get tomorrow.  if not, is another day okay?

Errol McLaughlin@ENRON
01/31/2001 07:46 AM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: Sherry

John,

Could you do me a big favor.  Sherry has been really working hard and doing a
good job.  Do you think that you could talk with one of your contacts and get
her a pair of Rockets tickets.  I know they are a playing the Clippers
tommorrow night.   I know that no one else wants to see the Clippers, but
she's never been to a game and would really appreciate it.

Thanks,

Errol, X5-8274


I am forwarding a copy of Leslie's email, as a sample for you.  I input
Leslie's responses in my EOL Legal Database, so I can keep track, product by
product, of what we said for a counterparty, and then our rationale behind
it, in case we need to reconstruct why we said "no trading" at a later date.
If it's an "amended" counterparty, she will tell be whether or not she is
changing an earlier approval.  Further, I put Leslie's notes about any
particular contract issue in the database, like "override letter", "online
GTC", or whatever.  Again, it's our memory of what we approval, and I hope
with thousands of approvals out there, I know I can't remember everthing.
----- Forwarded by Tana Jones/HOU/ECT on 08/24/2000 06:14 PM -----

	Leslie Hansen
	08/15/2000 02:38 PM

		 To: Tana Jones/HOU/ECT@ECT
		 cc: Rhonda L Denton/HOU/ECT@ECT
		 Subject: Re: EOL Credit Responses 08/14/00

Tana:

None of the following CPs are approved to trade US power:

Nicor Gas Company -restricted by credit
Northern Illinois Gas Company - restricted by credit
Sumitomo Electric Industries LTD. - not a current CP/not FERC approved
Taylor Energy Company - restricted by credit

*******************
Dynegy Power Marketing, Inc. - no change to profile
Taunton Municipal Light Plant - authorized to trade US power pursuant to
on-line GTCs (no master)

Leslie


Mike
We completed the decontamination on both of the filter separators on the
discharge of the Solexol Plant.  There was a thin film of an oily substance
(presumably Solexol) on the interior wall of the filter separators.  However,
both sets of filters were very clean.  No moisture was present on the filters
and there was not any sludge or build up on any of the filters.  The filters
that were removed had the same appearance of a brand new filter.  As a matter
or fact, when you laid a new filter beside a used filter you could not tell a
difference.  The filters being used are a Sock type filter and when you ran
your hand across the filters you could not detect the presence of any
moisture at all.

So, it's presumed that the system has been completely absent of any liquid.
The small amounts of liquid being collected from week to week for sampling
must have been accumulated from the run down or film, pre-existing on the
interior of the filter separator housing.  A decontamination and triple rinse
of each filter separator should result in a total absence of any liquid for
future samples, other than the remaining soap and water used for the final
rinse that could not be drained from the vessels.

Rich and I visited the Topock compressor station this morning and reviewed
the sampling point on PG&E's inlet scrubber.  Rich made the recommendation to
Randy Williams and Rick Bezanson (PG&E) that future samples be taken straight
off the bottom of the scrubber rather than from PG&E's 1000 gallon blow down
tank.  The purpose of this was to reduce the exposure to contaminating future
samples with pre-existing PCB's that may have collected in the 1000 gallon
blow down tank over a period of time.  PG&E agreed to sample from this point
on future collections.

Both of the discharge lines on each filter separator at the Solexol plant
have been hot tapped in preparation of Solexol injection.  Piping has been
installed and pumps are in place to accommodate the Solexol injection as
well.  However, NO injection of Solexol will take place until after our
meeting next Tuesday with PG&E.

Transwestern has agreed with PG&E today to postpone our planned
decontamination of the filter separator at Transwesterns PG&E meter station
until April 28th, at which time Transwestern and PG&E will perform a
decontamination of both TW's and PG&E's filter separators simultaneously.

               Thanks, Tiny

---------------------- Forwarded by David Roensch/ET&S/Enron on 04/09/99
05:51 PM ---------------------------

Rich Jolly
04/08/99 11:46 PM

To: Michel E Nelson@Enron
cc: Rick Cates/ET&S/Enron@Enron, Jeffery Fawcett/ET&S/Enron@Enron, Dan
Pribble/ET&S/Enron@Enron, Larry Campbell/ET&S/Enron@Enron, Earl
Chanley/ET&S/Enron@Enron, Arnie Bailey/ET&S/Enron@Enron, Bob Bandel@Enron,
Roger Osborn/ET&S/Enron@Enron, David Roensch@ENRON, Rick
Smith/ET&S/Enron@Enron, Louis Soldano/ET&S/Enron@Enron

Subject: PG&E UPDATE

Mike
We completed decontamination of the inlet filter at the selexol plant today.
It was dirty but
no liquid. There was some dried sludge in the bottom of the vessel and the
filters were
extremely dirty. We plan to do both of the filters on the discharge side
tomorrow.I got a phone
messsage from Jeff and he hasn't heard anything from PGE since the letter was
sent . We will
plan to bypass and clean the filter on the west side of the river, last one
on our system Saturday
unless we hear something different tomorrow. We will notify the PGE operators
of their plant
tomorrow of our plans.If anyone needs to contact me my pager number is
1-800-921-9564 and office
phone number is 505-260-4003. Leave a message on the office phone and it will
automatically
page me. I'll give everyone an update late tomorrow. We should have the hot
tap valves on location
tomorrow for the selexol injection. We plan to install the valves as soon as
they arrive.

Thanks RJ

By the way Bisti came on line today and they plan to run it tonight and be
back on location to
check on the unit tomorrow.


Rebecca,

John Ayres and I met today.  He wishes to add the interconnect piping
between the chiller and cooling tower options in Exhibit N-2 for the ESA
Electrobolt Project.  This adds a total of $ 266,400 to the Jan 15, 2001
payment (equal to $ 33,280 per unit).  There will be no effect on the
12/27/00 payment amount.  I've edited your spread sheet to show this.

John Ayres asked if he could have a stripped down version of the Spread
sheet showing only the ESA amounts.

Kay, You'll notice that the Cooling Tower Option is Exhibit N-2 was changed
to add this interconnect piping to the scope.

I hope this helps.

Regards,

Lee
-----Original Message-----
From: Rebecca.Walker@enron.com [mailto:Rebecca.Walker@enron.com]
Sent: Friday, December 08, 2000 9:30 AM
To: lee.johnson@ss.ps.ge.com
Cc: Kay.Mann@enron.com; Ben.Jacoby@enron.com; pthompson@akllp.com;
ccobb@akllp.com
Subject: LM 6000 Breakout Contract Amounts

Attatched please find a contract payment summary for the LM 6000 turbines.

(See attached file: LM 6000 Breakout Contracts.xls)

Feel free to contact me with any questions.

Rebecca Walker
713-345-7968

 - Paymentschedule_LM 6000 Breakout Contracts_121100edits for
ESAchillerpiping.xls


Mr. Lay:

	Pug asked me to forward the attached document for your review.  If
you have any questions, please do not hesitate to contact me.

Many thanks -

Beth Malsbury
Capricorn Management, G.P.
203-861-6600
203-861-6671 (fax)

 - Statement by Ken Lay.doc


Dee:  I am trying to hear from credit on about four issues, namely, the legal
entity, need for First Union Corp. guaranty (due to the availability of
financials), haircut on bonds and Specified Conditions.  I would then propose
preparation of a blackline to squeeze out the remaining issues.  If I hear
from credit tomorrow (and I'm pushing), I could have the blackline by
Wednesday and we could talk.  Hopefully, we'd be done by this week.  Hope
this works.  Regards.

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


John:

I have not seen the legal opinion yet from Brazilian counsel [Dr. Pinto] on
our dollar indexing issue.  Please forward to me so I can review the opinion
and get final approval for the deal.

Regards,

Mark


Ian, there are no problems with Enron Metals Ltd. trading with bullion
through EOL with Australian resident or Australian incorporated
counterparties in the manner described.

Regards

David

Tina Ward@ECT
18/01/2001 01:05 AM
To: Justin Boyd/LON/ECT@ECT
cc: Caroline Duggan/LON/ECT@ECT, Ian Brungs/EU/Enron@Enron, Janine
Juggins/LON/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Peter Keohane/CAL/ECT@ECT,
David Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt

Subject: Re: Bullion Trading

Hi Justin,

Just to confirm our conversation earlier, the contracting party for bullion
trading should be Enron Metals Ltd.

Thanks,
Tina

Caroline Duggan
17/01/2001 13:58
To: Ian Brungs/EU/Enron@Enron, Tina Ward/LON/ECT@ECT, Janine
Juggins/LON/ECT@ECT
cc: Justin Boyd/LON/ECT@ECT

Subject: Re: Bullion Trading

Hi Ian,

With regards to your e-mail below, you refer to the entity being:
           The Enron counterparty to each trade will be Enron Capital & Trade
Resources International Corp. (as arranged by Enron Europe Finance & Trading
Limited, the SFA regulated entity).

        However, back in November we got confirmation from Tina Ward that the
entity would be Enron Metals Ltd:
   For both the UK and COMEX bullion, Enron Metals Ltd should be the
contracting party.

 Janine / Tina : Can you please confirm this for us? (I am sure that Enron
Metals Ltd is the correct entity.)

 Thanks
 Caroline PCG London

---------------------- Forwarded by Caroline Duggan/LON/ECT on 17/01/2001
13:48 ---------------------------

Amita Gosalia
17/01/2001 13:08
To: Caroline Duggan/LON/ECT@ECT
cc: Lara Fields/LON/ECT@ECT

Subject: Re: Bullion Trading

C

Please check entity with Janine.

A

Caroline Duggan
17/01/2001 12:48
To: Amita Gosalia/LON/ECT@ECT, Lara Fields/LON/ECT@ECT
cc:

Subject: Bullion Trading

fyi
---------------------- Forwarded by Caroline Duggan/LON/ECT on 17/01/2001
12:52 ---------------------------

Ian Brungs@ENRON
16/01/2001 19:05
To: Caroline Duggan/LON/ECT@ECT
cc:

Subject: Bullion Trading

---------------------- Forwarded by Ian Brungs/EU/Enron on 16/01/2001 19:05
---------------------------

Ian Brungs
16/01/2001 19:05
To: Mark Taylor/HOU/ECT@ECT, Peter Keohane/CAL/ECT@ECT, David
Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt
cc: Justin Boyd/LON/ECT@ECT

Subject: Bullion Trading

Dear Mark, Peter and David,
Justin and I have now carried out the legal due diligence necessary to trade
Bullion on EnronOnline with counterparties based in Sweden, Switzerland and
South Africa.
 We intend to launch two products; a spot forward contract (based on a price
fixed by our traders that is linked to the current traded price on the
Reuters page) in both gold and silver. These trades are all cleared, by paper
transfer, through the London Bullion Clearing System, and for this purpose
each contracting party is required to appoint a Clearing member. There are a
total of 7 Clearing members, all of which are banks or similar financial
institutions, and all of which are regulated by the Bank of England.
 The Enron counterparty to each trade will be Enron Capital & Trade Resources
International Corp. (as arranged by Enron Europe Finance & Trading Limited,
the SFA regulated entity). Settlement will occur through the crediting or
debiting of an unallocated gold account and the corresponding debiting or
crediting of a cash account.
 Please would you advise whether trading with counterparties from your
jurisdiction(s) in such products would give rise to any specific legal issues.
 The jurisdictions which I believe would fall under your remit are as follows:
 Mark: USA
  Peru
  Mexico
 Peter: Canada
David: Australia
If you have any questions or concerns please do not hesitate to contact
either Justin or myself.
Kind Regards,

Ian Brungs


As promised but late.  Any comments please send them to myself and David.
Regards,
Jim


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
----- Forwarded by Sara Shackleton/HOU/ECT on 03/20/2001 02:56 PM -----

	kpolozie@mwe.com
	03/20/2001 10:36 AM

		 To: YYaish@exchange.ml.com, Janice.R.Moore@enron.com, sshackl@enron.com,
TeiglandL@sullcrom.com, gilbergd@sullcrom.com, LMcMurray@exchange.ml.com
		 cc: ppantano@mwe.com, rpaul@mwe.com, darezina@mwe.com
		 Subject: Transfer and Assumption Agreement

Ladies and Gentlemen:

Attached please find the revisedTransfer and Assumption Agreement.  Please
note
that in the interest of time I am sending this document to all parties
simultaneously, thus there may be additional comments.  For your convenience,
I
am attaching both a clean copy and a marked version showing changes from the
most recent draft you received.

Please email me your comments or confirm if you have no additional comments as
soon as possible so that we can finalize the agreement for execution.

Best regards,

Kate Polozie
Katarina B. Polozie
McDermott, Will & Emery
kpolozie@mwe.com
(202) 756-8130
(See attached file: WDC99_407630_1.DOC)

(See attached file: WDC99_406261_10.DOC)

******************************************************************************
*******

This message is a PRIVATE communication.   If you are not the intended
recipient, please do not read, copy, or use it, and do not disclose it to
others.  Please notify the sender of the delivery error by replying to this
message, and then delete it from your system.  Thank you.
******************************************************************************
*******

For more information on McDERMOTT, WILL & EMERY please visit our website at:
http://www.mwe.com/

 - WDC99_407630_1.DOC
 - WDC99_406261_10.DOC


GOOD JOB !!

----Original Message-----
   >From:      Paul Chivers/LON/ECT
   >To:          Andrew S Fastow/HOU/ECT@ECT,Ben F Glisan/HOU/ECT@ECT,Mark
Frevert/NA/Enron@Enron,J.n,David P Tregar/EU/Enron@Enron,Kelly H
Boots/HOU/ECT@ECT,Joe Gold/LON/ECT@ECT,Richard Lewis/LON/ECT@ECT,Matthew
Scrimshaw/LON/ECT@ECT,Fernley Dyson/LON/ECT@ECT,Mark Evans/Legal/LON/ECT@ECT
   >Cc:          Bill Appleby/LON/ECT@ECT,Anne Edgley/LON/ECT@ECT,David P
Tregar/EU/Enron@Enron,Howard Carter/EU/Enron@Enron,Justin
Boyd/LON/ECT@ECT,Melissa Allen/LON/ECT@ECT,Phillip D Lord/LON/ECT@ECT,Eric
Gadd/LON/ECT@ECT,Tim DeSpain/HOU/ECT@ECT,Michael Kopper/HOU/ECT@ECT,Peter
Russell/EU/Enron@Enron,Clive Hutchings/EU/Enron@Enron,William
Sell/EU/Enron@Enron,Janine Juggins/LON/ECT@ECT,Catharina
Clabots/LON/ECT@ECT,Angela A Brown/LON/ECT@ECT
   >Bcc:
   >Subj:      $2.15 bn Enron Metals Inventory Financings Closed
   >Sent:     Thursday, December 07, 2000 3:20 AM
   >
   >Last Tuesday Global Finance Europe closed  a new off balance sheet
facility with Barclays creating up to $1bn of capacity for existing and new
physical metals trades for Enron Metals.  This transaction will be added to
through an additional $350mm of capacity from Credit Lyonnais and compliments
the $750mm Warrants structure completed in September.
   >
   >Each transaction involves a sale of either Physical Metal or Warrants to
the bank with Enron receiving an associated call option. The bank hedges its
market risk through a  complimentary foward sale with the LME. The new
physical metal facility will start receiving its first trades this week.
   >
   >The transaction achieves much for Enron:
   >Deconsolidation of approximately $2bn of debt financed inventory which
came with the aquisition of MG plc;
   >The creation of new capacity to grow the business beyond its existing
base;
   >Committed facilities for the business unit which are at a lower cost
than the original debt financed facilities;
   >The c
   >
   ><truncated...>


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 05/22/2000
07:48 AM ---------------------------

RealPlayer News <news@real-net.net> on 05/22/2000 12:25:49 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: FREE *A Better and Quicker Way to Use the Web!*

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FYI
----- Forwarded by Jeff Dasovich/NA/Enron on 03/28/2001 11:04 AM -----

	Jean Munoz <jmunoz@mcnallytemple.com>
	03/27/2001 08:53 PM

		 To: Katie Kaplan <kaplan@iepa.com>, "'Andy Brown (E-mail)'"
<ABB@eslawfirm.com>, "'B Brown Andy (E-mail)'" <andybrwn@earthlink.net>,
"'Baker Carolyn (E-mail)'" <cabaker@duke-energy.com>, "'Bob Escalante
(E-mail)'" <rescalante@riobravo-gm.com>, "'Bob Weisenmiller (E-mail)'"
<rbw@mrwassoc.com>, "'Curtis Kebler (E-mail)'"
<curtis_l_kebler@reliantenergy.com>, "Dean. Nistetter (E-mail)"
<Dean.Nistetter@dynegy.com>, "'Douglas Kerner (E-mail)'" <DKK@eslawfirm.com>,
"'Greg Blue (E-mail)'" <gtbl@dynegy.com>, "'Jan Smutny-Jones (E-mail)'"
<smutny@iepa.com>, "'Jeff Dasovich (E-mail)'" <Jeff.Dasovich@enron.com>,
"'Joe Ronan (E-mail)'" <joer@calpine.com>, "'John Larrea (E-mail)'"
<john.g.larrea@williams.com>, "'John Stout (E-mail)'"
<John_H_Stout@reliantenergy.com>, "'Julee Malinowski-Ball (E-mail)'"
<jmball@ns.net>, "'Kassandra Gough (E-mail)'" <kgough@calpine.com>, "'kent
Palmerton (E-mail)'" <kent.palmerton@williams.com>, "'Lynn Lednicky
(E-mail)'" <lale@dynegy.com>, "Marie Moretti (E-mail 2)"
<mmoretti@mccabeandcompany.net>, "'Marty Wilson (E-mail)'"
<mwilson@pstrategies.com>, "'McNally Ray (E-mail)'"
<rmcnally@mcnallytemple.com>, "''Nam Nguyen' (E-mail)'"
<nam.nguyen@powersrc.com>, "'Norton Kelli (E-mail)'"
<knorton@mcnallytemple.com>, "'Paula Hall-Collins (E-mail)'"
<paula.hall-collins@williams.com>, "'Pigott Jack (E-mail)'"
<jackp@calpine.com>, "'Richard Hyde (E-mail)'" <rwhyde@duke-energy.com>,
"'Roger Pelote (E-mail)'" <roger.pelote@williams.com>, "'Stephanie-Newell
(E-mail)'" <stephanie-newell@reliantenergy.com>, "'Sue Mara (E-mail)'"
<smara@enron.com>, "'Tom Ross (E-mail)'" <tross@mcnallytemple.com>, "Tom
Williams (E-mail)" <tcwillia@duke-energy.com>, "'Alex Sugaoka (E-mail)'"
<alex.sugaoka@uaecorp.com>, "'Bill Carlson (E-mail)'"
<william_carlson@wastemanagement.com>, "'Bill Woods (E-mail)'"
<billw@calpine.com>, "'Bob Ellery (E-mail)'" <bellery@spi-ind.com>, "'Bob
Gates (E-mail)'" <bob.gates@enron.com>, "'Cody Carter (E-mail)'"
<cody.carter@williams.com>, "'Curt Hatton (E-mail)'"
<Curt.Hatton@gen.pge.com>, "'David Parquet'" <david.parquet@enron.com>,
"'Dean Gosselin (E-mail)'" <dean_gosselin@fpl.com>, "'Doug Fernley (E-mail)'"
<fernley.doug@epenergy.com>, "'Duane Nelsen (E-mail)'"
<dnelsen@gwfpower.com>, "'Ed Tomeo (E-mail)'" <ed.tomeo@uaecorp.com>,
"'Eileen Koch (E-mail)'" <eileenk@calpine.com>, "'Eric Eisenman (E-mail)'"
<eric.eisenman@gen.pge.com>, "'Frank DeRosa (E-mail)'"
<frank.derosa@gen.pge.com>, "Frazier Blaylock (E-mail)"
<frazier_blaylock@ogden-energy.com>, "'Hap Boyd (E-mail)'"
<Hap_Boyd@enron.com>, "'Hawks Jack (E-mail)'" <jack.hawks@gen.pge.com>, "'Jim
Willey (E-mail)'" <elliottsa@earthlink.net>, "'Joe Greco (E-mail)'"
<jgreco@caithnessenergy.com>, "'Jonathan Weisgall (E-mail)'"
<jweisgall@aol.com>, "'Kate Castillo (E-mail)'" <CCastillo@riobravo-gm.com>,
"'Kelly Lloyd (E-mail)'" <kellyl@enxco.com>, "'Ken Hoffman (E-mail)'"
<khoffman@caithnessenergy.com>, "'Kent Fickett (E-mail)'"
<kfickett@usgen.com>, "'Lynn Lednicky (E-mail)'"
<lynn.a.lednicky@dynegy.com>, "'Marty McFadden (E-mail)'"
<marty_mcfadden@ogden-energy.com>, "'Paula Soos'"
<paula_soos@ogden-energy.com>, "'Randy Hickok (E-mail)'"
<rjhickok@duke-energy.com>, "Rick S. Koebbe (E-mail)"
<rskoebbe@powerworksinc.com>, "'Rob Lamkin (E-mail)'"
<rllamkin@seiworldwide.com>, "'Ross Ain (E-mail)'" <ain@worldnet.att.net>,
"'Steve Iliff'" <siliff@riobravo-gm.com>, "'Steve Ponder (E-mail)'"
<steve_ponder@fpl.com>, "'Tony Wetzel (E-mail)'" <twetzel@thermoecotek.com>,
"'William Hall (E-mail)'" <wfhall2@duke-energy.com>,
<trusso@mcnallytemple.com>
		 cc:
		 Subject: Initiative Campaign Strategy Outline

The following memo is for discussion during our Wednesday public affairs
committee meeting.
Thanks!  Jean

March 26, 2001

MEMORANDUM

To:    IEP
Fr:     Ray McNally, Richard Temple, Tony Russo, Jean Munoz, Tom Ross
Re:   Initiative Campaign Strategy Outline

Harvey Rosenfield has on numerous occasions threatened to place an initiative
on the 2002 ballot to re-regulate the power industry.

It is not a hollow threat.

Not only has Rosenfield successfully placed initiatives on the ballot in the
past, but the current energy crisis has become the number one issue on the
minds of voters dd making it easier to qualify a ballot measure.  And our own
internal polling for IEP shows voters would initially support the concept of
re-regulating the industry.

However, qualifying an initiative for next year?s election is not a foregone
conclusion.  And passing one is an even more difficult task.

Rosenfield faces several roadblocks:

o    The current energy issue is complicated, and all potential solutions
have weaknesses that could be exploited in a political campaign.

o    IEP?s internal polling shows Rosenfield?s proposal has weaknesses that
could be exploited dd including the price tag and the image of a state-run
energy department that could be compared to the DMV and CalTrans.

o    Rosenfield would have a difficult time funding a campaign, especially
raising the resources to overcome a strong, well funded "no" campaign.

o    The burden of "proof" always falls on the "yes" campaign rather than the
"no" campaign.  Voters are concerned about giving their approval to changes
that could make things worse.  Rosenfield will have to prove his case beyond
a shadow of a doubt, and therefore it is easier to defeat an initiative than
it is to pass one.

o    If power generators become motivated they can be a formidable opponent.

Following is (1) a preliminary timeline Rosenfield would face in trying to
qualify an initiative for the ballot in 2002, (2) strategic concepts that
should be considered before pursuing a plan to defeat the initiative, (3)
preliminary strategic and tactical options in opposing the initiative, and
(4) a discussion of campaign costs.

We recommend using this outline as a starting point to develop an effective
campaign plan that could successfully defeat Rosenfield if he pursues an
initiative strategy.

Timeline

To date, no proposed ballot initiative has been submitted to the Attorney
General for title and summary.  Accordingly, there is not sufficient time
available to qualify an initiative for the March 2002 ballot.

However, there is still adequate time to qualify a measure for the November
2002 ballot.  We believe Rosenfield could submit a measure to the Attorney
General as late as September, 2001 and still qualify the initiative for the
November 2002 ballot dd especially if the summer months produce power
blackouts, skyrocketing energy bills, and the image of a bungling Governor,
legislature and regulators.

The following timeline would allow Rosenfield to submit language for title
and summary as late as September 28, 2001 and qualify the initiative for the
November 2002 ballot:

September 28, 2001

Proposed measure is submitted to the AG for title and summary.

November 20, 2001

Attorney General prepares and issues title and summary.  Proponent can begin
circulating petitions.

April 19, 2002

The proponent files the petitions with county elections officials.

May 1, 2002

County elections officials complete petition raw count totals and certify raw
numbers to the Secretary of State.

June 23, 2002

County elections officials verify and certify results of the number of valid
signatures in their counties and turn in counts to the Secretary of State.

June 27, 2002

Secretary of State determines if the initiative qualifies for the ballot.
Proponent needs 670,816 valid signatures to qualify a constitutional
amendment or 419,260 valid signatures to qualify a straight statute.

Strategic Concepts

There are several strategic concepts that should be reviewed:

o    While satisfying Rosenfield may be impossible, IEP could push hard to
ensure a "solution" is passed by the legislature to give credibility to the
criticism that Rosenfield is an extremist whose initiative could undercut the
legislative remedy.

o    The industry could organize a well-funded campaign that contains an
early advertising blitz to quickly define the ballot measure in the most
negative manner possible, and that delivers a knock out punch in October.

o    Generators could promote a counter-initiative proposal, either through
the legislature or qualified by petition dd stopping Rosenfield?s proposal if
more "yes" votes are received for the counter initiative than the Rosenfield
measure.

o    Paid signature gathering firms could be put on contract for
industry-related business dd thus keeping these firms off the table for
Rosenfield.  Another variation would be to hire firms to gather signatures
calling for legislative action dd thus gaining names of voters who support
our position, but also keeping signature gatherers too busy to help
Rosenfileld.

o    The industry could pay to gather signatures on petitions that removes
names of people who may have signed the petition for Rosenfield?s
initiative.  This could cut down the number of valid signatures accepted by
county election officials.

o    A paid advertising campaign could be run during the proposal?s signature
gathering phase urging voters not to sign the petitions.  An added benefit of
the concept is defining the proposal early if it still qualifies for the
ballot.

o    We could organize a legal assault on the proposal dd stopping their
signature gathering efforts or keeping it off the ballot.

Campaign Strategy

If the proposal qualifies for the ballot, the industry must pursue an
aggressive strategy to defeat the measure.  We need to identify weaknesses in
the proposal and share those weaknesses with voters.  We must also push
voters to question the motives behind the initiative.  We need to make sure
voters are uncomfortable with all or portions of the initiative to ensure
they vote no despite wanting adequate and affordable energy.

The campaign should conduct thorough research to determine the best strategy
to defeat the measure.  Initially we believe the "no" campaign should focus
on testing and developing the following messages:

o    The measure will hurt taxpayers.  A $40 billion price tag is too much
for voters to accept as the only solution to the problem.

o    The proposal will hurt public services.  The cost of Rosenfield?s
measure will keep money away from more important programs  dd like schools,
public safety and programs for children and seniors.

o    The ballot measure is simply a way for elected officials to get more tax
dollars to cover up their failures dd and they should not be rewarded with
public support.

o    Rosenfield?s proposal will result in higher taxes to pay for more
bureaucracy and wasted tax dollars.

o    The proposal will result in more inefficient government that will
produce unreliable power dd hurting consumers, and vital services such as
hospitals and public safety.

o    The measure will hurt the economy and cost jobs at a time when the
economy is hurting.

Campaign Tactics

The campaign should follow an aggressive battleplan that includes the
following components:

Research

Focus groups and quantitative surveys should be conducted to help craft the
best messages to attack the proposal.  This research would also be important
in efforts to secure the most favorable ballot title and summary possible to
our goal of defeating it.

Demographic and election research should also be conducted to determine
voters most open to our campaign messages.  We should also conduct thorough
research on Rosenfield to expose his true motivations for proposing this
measure and its inherent weaknesses.

Legal, Title & Summary, and Ballot Argument Challenges

We should pursue every possible legal option to either get the proposal off
the ballot, or ensure the most favorable title & summary and weakened ballot
arguments for the initiative sponsors.  Our experience shows that the ballot
title and summary can swing initial vote margins either way by as much as 10
points.

Paid Advertising

Statewide campaigns in California require paid advertising dd including
electronic media, direct mail, and telemarketing.  Advertising should be
carefully targeted to ensure the most "bang for the buck."

Earned Media

Editorial support is an important part of successful statewide campaigns, as
is ensuring favorable media coverage of the campaign.  A focused earned media
campaign would greatly enhance the chances for success and editorial support
and Op-Ed?s can provide important third party credibility to the no campaign.

Coalition Building

It will be critical for the industry to gain credible allies in its fight
against Rosenfield.  We do not want the campaign to be portrayed as
generators versus consumer groups.  Therefore, we need credible, third party
groups standing along side us to broaden our appeal and message, like
taxpayer groups, business leaders, consumer organizations, energy experts,
economists, educators, law enforcement and seniors.

Campaign Costs

How much will be needed to defeat Rosenfield will depend on several factors.
Depending on several variables, the cost of a "no" campaign can range from a
few million dollars to as much as the $40 million spent to defeat Proposition
9.

Campaign costs to defeat ballot measures are contingent upon several
variables:

o    The popularity of the measure with voters.  The more they like it on the
natural, the more expensive it will be to defeat the measure.

o    How much money Rosenfield can raise to promote the measure.  If he has
few resources, the "no" campaign will have an uncontested paid advertising
campaign, which will make defeating the proposal much easier.

o    How bad the energy crisis impacts voters.  If the next 15 months produce
an on-going crisis, campaign costs will rise.

o    The effectiveness of messages against the proposal.  If focus group and
survey research confirm the proposal has an Achilles heel, the cost to defeat
the measure will go down dramatically.

Thorough research of Rosenfield?s actual proposal will better enable us to
recommend a campaign plan, message and budget.  In summary, defeating the
Rosenfield initiative will cost from a few to several million dollars and a
united industry effort.


This morning, we announced an offer to acquire London-based MG plc, one of
the world,s leading metals marketers, for $446 million.  We have been
monitoring the global metals market for several years, and we believe that
now is the right time to enter this $120 billion market.  We are confident
that our successful business model, which we have proven in the natural gas
and electricity markets, gives us a tremendous advantage in a market that is
undergoing fundamental change.

Our offer to acquire MG plc has been unanimously recommended by MG plc,s
board of directors, and we expect to close the transaction by early third
quarter of this year, following shareholder and customary regulatory
approvals.

MG plc is a leading independent company in global non-ferrous metals trading
and marketing and the only such company that is publicly traded.
Headquartered in London with major offices in New York and Frankfurt, MG plc
has 330 employees in 14 countries.  It is the world,s leading copper
merchant, one of the top three merchants of copper concentrates and nickel,
and a leading European merchant of recycled metal.  Other products that MG
plc markets include aluminum, lead, tin, zinc, brass and stainless steel.

This transaction provides Enron with access to new customers and enables
cross-marketing opportunities.  We plan to sell Enron energy products to MG
plc customers and offer bundled products combining metals and power
outsourcing.  Enron will help producers and consumers manage the risks
inherent in volatile raw materials and energy markets, and we will improve
commodity prices for both buyers and sellers.

MG plc,s existing market-making capabilities and market knowledge provide an
immediate platform upon which to overlay Enron,s proven ability to offer
innovative e-commerce-enabled services to commodity-based industries.  Our
new metals business will be integrated into our wholesale business by Enron
Europe CEO John Sherriff, who will work closely with Enron Net Works CEO Greg
Whalley.


---------------------- Forwarded by Hunter S Shively/HOU/ECT on 03/16/2001
01:31 PM ---------------------------

	From:  Kevin Ruscitti                           03/16/2001 01:31 PM

To: Hunter S Shively/HOU/ECT@ECT
cc:
Subject:

---------------------- Forwarded by Kevin Ruscitti/HOU/ECT on 03/16/2001
01:30 PM ---------------------------

	From:  Martin Cuilla                           03/15/2001 07:53 AM

To: Kevin Ruscitti/HOU/ECT@ECT
cc:
Subject:

http://www.tlksolutions.com/family/multimedia.asp


John,

I talked to Dale Nesbitt. He suggested that the best way to evaluate his
model is to
go through a one week intensive project with assistance of somebody from his
company.
Our cost  is a flat fee of $12,500 that would be deducted from the purchase
price of $55,000,
in case we buy the software package.

The price of 55K is indicative and will be adjusted based on the required
level of support.

Dale will be in Houston next week. I have tentatively invited him to visit
with us on Tuesday,
November 7, at 3:00 p.m. He will adjust if you are busy at this time.

Please, let me know what you think.

Vince