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            B R E A K F A S T   W I T H   T H E   F O O L
                    Wednesday, November 1, 2000

benjamin.rogers@enron.com
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"The prime purpose of eloquence is to keep other people from
talking." -- Louis Vermeil

WORLDCOM TO SPLIT INTO TWO
Telecom company WorldCom is going to create a tracking stock for
its MCI division.

By LouAnn Lofton

In an effort to boost its sagging stock price, and unlock
greater opportunities for the parts of its business that are
growing the quickest, telecommunications company WorldCom
(Nasdaq: WCOM) announced restructuring plans this morning. The
company, which has seen its stock tumble from a 52-week high in
November 1999 of $61.33 to its current price of around $23, will
create a tracking stock for its MCI business. The ticker for the
new stock will be MCIT.

WorldCom shareholders will receive one share of MCI for every 25
shares of WorldCom they own. The distribution of MCI stock is
expected to happen by the end of the first half of 2001.

Tracked under the new MCIT ticker will be WorldCom's
slowest-growing divisions. The bulk of the operations that will
be reflected with the tracking stock are WorldCom's
long-distance and dial-up Internet services for consumers and
small businesses. These parts of WorldCom's business generate
about $16 billion in annual revenues.

The split leaves WorldCom with the best-performing and
highest-growth businesses. That includes its Internet and data
businesses, its international business, and its wireless
business. These divisions of WorldCom contribute annual revenues
of around $23 billion, with $16 billion coming from the
company's data, Internet, and international operations.

WorldCom also issued earnings guidance this morning. The company
said it sees fourth-quarter earnings per share coming in between
$0.34 and $0.37. Analysts as polled by First Call/Thompson
Financial were looking for $0.49 a share. The company pointed to
"intense pricing pressures, unfavorable foreign exchange rates
and the shift of consumer voice to wireless technologies" as the
reasons for the shortfall. It also lowered expectations for its
next fiscal year.

WorldCom's decision to split its businesses comes not long after
a similar move from competitor AT&T (NYSE: T), which announced
last week that it will split itself into four parts.
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NEWS TO GO

Health insurance company Aetna (NYSE: AET) announced
third-quarter earnings this morning. Operating earnings,
excluding onetime items, dropped to $158.1 million from $184.1
million last year. On a per-share basis, that translates into
$1.10 a share, versus $1.21 a year ago. Analysts were expecting
$0.90 a share. Revenues climbed 15% to $8.1 billion. In last
year's third quarter, Aetna's revenues were $7.1 billion.

Airborne Freight (NYSE: ABF) reported a third-quarter loss last
night that was greater than had been expected. The company lost
$5.5 million in the quarter, or $0.11 a share. It warned
analysts in September to look for a loss of between $0.05 and
$0.10 a share. Previously, analysts had expected a profit of
$0.28 a share. After the September warning, the consensus
estimate fell to a loss of $0.07 a share. Airborne Freight
blamed high fuel costs and softness in its core domestic
business for the shortfall. In last year's third quarter,
Airborne Freight earned $21.6 million, or $0.44 a share.

Broadband company Covered Communications (Nasdaq: COVD)
acknowledged today that CEO Robert Knowling will resign. This
comes just two weeks after Covad reported a wider-than-expected
loss for the third quarter. The company's stock has been pounded
this year, falling from a high of $66.63 to around $5 a share.
Frank Marshall, one of Covad's directors, has been named interim
CEO. Former chief and founder Charles McMinn will assume the
role of chairman.

Computer Sciences (NYSE: CSC), the information technology
services company, announced that it's inked a $2.2 billion
agreement with British defense contractor BAE Systems. The
agreement is for six years and replaces a current agreement
between the two which expires in March 2004. Under the deal,
Computer Sciences will manage BAE's IT infrastructure in the
United Kingdom and here in the states.

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MsgId:
msg-30584-2000-11-01_9-07-28-3284809_2_Plain_MessageAddress.msg-09:12:04(11-01
-2000)
X-Version: mailer-sender-master,v 1.84
X-Version: mailer-sender-daemon,v 1.84
Message-Recipient: benjamin.rogers@enron.com


Sean,

Have you heard of this yet?  I am assuming it impacts your planned deliveries.

Steve

 -----Original Message-----
From: 	Baughman, Edward
Sent:	Tuesday, January 29, 2002 6:44 AM
To:	Delainey, David W.; Dietrich, Janet; Rasmussen, Dale; Murphy, Harlan; Thome, Stephen; Brysch, Jim; Wax, Brandon
Cc:	Miller, Don (Asset Mktg); Racicot, Paul
Subject:	BPA Termination Notice

This morning I received a termination notice from BPA. Effective 2/1/02 BPA is terminating contract numbers 97PB-10123 and 98PB-10227. Both have one way payment provisions. Harlan Murphy is checking the effectiveness of their
notice. We need to make adjustments to west power schedules as soon as Harlan confirms termination validity.


all files needed are in H:\smahmass\EXCEL   on 'nahoutrd-uv6'


ACCORDING TO ENPOWER THIS DEAL WAS DONE ON ENRON ONLINE, AND IT DOES HAVE 25MW AT $40 IN THE DEAL.  THE WAY IT READS OVER HERE IS THAT THERE SHOULD BE NO DISPUTE.  IF I AM READING THIS INCORRECTLY LET ME KNOW.

THANKS,

RYAN

 -----Original Message-----
From: 	Quarles, Daphne
Sent:	Monday, October 01, 2001 1:46 PM
To:	Slinger, Ryan
Subject:	Deal # 741969.1

Hi Ryan,

On August 21, the following deal contained 0 mws and 0 $'s.  According to the Counterparty, which is Constellation, it should have 25 mws @ $40.00.  It's for hour ending 15.  If you have any questions, please give me a call.

Thanks


Here is a summary of various conversations over the last couple of days
between the recipients of this email and what I believe has now been agreed.
If I have missed anything, please let me know.

- Frank Davis (PCG) will issue a PA report on a daily basis, which will
highlight new PA's which have been received.
- Debbie Brackett (Credit) will review the list, ensure that the correct
corporate entity is identified and fill out the credit profile.
- Credit will generate a profile matrix, which they will send to:
 - Each of the existing legal contacts, with cc: Tana Jones
 - Global Contracts (Karen Lambert)
 - Global Counterparty (Samuel Schott)
- Tana, Karen and Samuel will be responsible for collecting the feedback from
within their respective departments and forwarding to Frank Davis
- Frank will collate the three inputs, produce a master profile and update
Tax.

The above procedure shall still be completed within 72 hours.


Please find attached the latest Q&A document which incorporates the comments
that Karen Denne received by 1:00 p.m. EST today.


Call me on this one.  I think AECO would actually be better due to the fact that plant gate gas in Saskatchewan trades at AECO - X.  Therefore an AECO hedge may be more appropriate to match up their risk.

Hope all is going well.

Jon

 -----Original Message-----
From: 	Joslyn, Kate
Sent:	Wednesday, June 27, 2001 2:30 PM
To:	Mckay, Jonathan
Subject:	Boardwalk

Jon
Boardwalk are looking at hedging the gas for their properties in Saskatchewan.  What would you recommend or a financial hedge?  AECO, Empress??
KJ


Aitor Moso of Iberdrola told me in Madrid yesterday that Iberdrola have
"inherited", at least for a few months, 550 MW of import capacity under use
it or lose it rules introduced by RTE in '99 or '00. Apparently EdF had kept
using that capacity till early Winter, then kept nominating it for use, but
actually did not use it for four months. The reason was excess hydropower
availability in Spain driving prices down. Once the four month period
expired, EdF lost the capacity rights and Iberdrola jumped in and booked it.
I assume Raphael and Paul are aware of all this.

I was also told that RTE is holding a seminar on their France-Spain
interconnection capacity auction proposals in Paris next Monday. Iberdrola,
Endesa and Hidrocantabrico (not surprisingly!) seem to be supportive. Are we
attending?

All these developments will of course be relevant to our answers to the Phase
2 questionnaire. When it arrives (tomorrow or Monday?) we may only be given a
few days to answer it. Are we prepared?  Bruno and Nailia have some days off
in the next week or so let's get to work in advance - providing Ross,
Mariano, Paul and Gregor back an intervention. The three previous submissions
to DG COMP to work off are:
 a) '99  (?) on France/ Spain exports,
 b) '00 on EdF/ EnBW, and
 c) '01 on EdP/ Hidrocantabrico.

I foresee the most obvious remedies to target being:
 1) Freeing up LTRs on interconnectors.
 2) Enhancing VPP auctions.

From: Bruno Gaillard/Enron@EUEnronXGate on 06/11/2001 09:32 AM GDT
To: Alfredo Huertas-rubio/Enron@EUEnronXGate, Peter Styles/LON/ECT@ECT
cc: Paul Mead/LON/ECT@ECT, Ross Sankey/Enron@EUEnronXGate, Pierre de
Gaulle/LON/ECT@ECT, Raphael Brun/LON/ECT@ECT, Philip
Davies/Enron@EUEnronXGate, Simon Brod/LON/ECT@ECT, Nailia
Dindarova/LON/ECT@ECT

Subject: FW: Commission press release

The EC is launching a phase two investigation on EDF's acquisition of
Hidrocantabtrico. They fear EDF's presence in the Spanish market will reduce
their incentives to built new interconnectors: "Once it has a foothold in
Spain, it might presumably be less interested in increasing competition in
the Spanish market via imports and hence could prevent any increase in the
capacity of French interconnectors with Spain. It is recalled that all
imports of electricity in Spain (with the exception of Portugal) need to go
through the French grid and the French interconnectors". Mario Monti added
"Separately, my services are also actively investigating whether EdF may have
discriminated against third parties regarding access to the interconnector
cables that carry electricity between France and Spain." I assume that OMEL
(and REE?) is active in that case. However, we also have evidence that RTE is
not optimising capacity and allowing historic users to block capacity. Do we
want to get involved, and can we, in the "active case" (with OMEL or
independently)? Do we want to get involved, and can we, in the acquisition
case?

Bruno

 -----Original Message-----
From:  Dindarova, Nailia
Sent: 05 June 2001 17:48
To: Styles, Peter; Alfredo Huertas/LON/ECT@ENRON; David Gonzalez/LON/ECT@ENRON
Cc: Gaillard, Bruno; Paul Hennemeyer/LON/ECT@ENRON
Subject: Commission press release

Alfredo / David,

See attached press release re Commission's investigation of EnBW's
acquisition of HC.
---------------------- Forwarded by Nailia Dindarova/LON/ECT on 05/06/2001
17:37 ---------------------------

Amaia BeteluBazo <Amaia.Betelu@citigatepa.com> on 05/06/2001 15:37:21
To: "Nailia Dindarova (E-mail)" <Nailia.Dindarova@enron.com>
cc: Thierry LeBeaux <Thierry.Lebeaux@citigatepa.com>

Subject: Commission press release

Dear Nailia,

Please find attached a press release issued by the Commission today
regarding the ongoing investigation on the acquisition by Spanish Group
Villar Mir and EnBW of Spanish utility Hidrocantabrico. The Commission fears
that the acquisition by EdF, through EnBW, would limit the interconnection
capacity between the Iberian Peninsula and the rest of Europe.

 <<Press release 05.06.01.doc>>

 - Press release 05.06.01.doc


<<ClintonSPR.doc>>

============
David Nemtzow
Alliance to Save Energy
nemtzow@ase.org <mailto:nemtzow@ase.org>
ph: (202) 857-0666
fax: (202) 331-9588
http://www.ase.org <http://www.ase.org>

 - ClintonSPR.doc


As required by the Houston Fire Department, a fire drill has been scheduled for the Enron Center Campus.

	Enron Center North, 1400 Smith St., approximately  3:15 PM on Thursday, December 20th, 2001

	Enron Center South, 1500 Louisiana St., approximately 3:45 PM on Thursday, December 20th, 2001

Please advise all clients, contractors, and visitors that this will be a fire drill only. The fire alarm will sound at 3:15 PM in Enron Center North and 3:45 PM in Enron Center South. You will be asked to go to the stairwell and standby.  Do not go into the stairwell.  Further instructions will be given over the public address system.  If you experience any difficulties in hearing either the fire alarm or any announcements over the public address system, please notify the Facilities Help Desk by e-mail at facilitieshelpdesk1@enron.com.

Anyone that is mobility impaired or medically disabled may be excused from participating in this drill by sending an e-mail to Harry Grubbs.

If you have any questions or need any additional information, please contact Harry Grubbs at 713-853-5417.


I already responded to this.  Print for my meeting file.
---------------------- Forwarded by Steven J Kean/NA/Enron on 04/25/2001
07:54 AM ---------------------------

"Heidi VanGenderen" <hvg@carbon.cudenver.edu> on 04/24/2001 04:16:43 PM
Please respond to <hvg@carbon.cudenver.edu>
To: <hvg@carbon.cudenver.edu>
cc:

Subject: Two Requests re: May 22-23 Forum

Greetings:

Thank you for joining us for the May 22-23, 2001 Forum on Securing the
Energy Future of the Western United States here in Denver.  If you require
any audio visual aids for your presentations (overhead projector, LCD,
etc.), please respond to this e-mail ASAP.  Please remember that you will be
asked to remain within the time limits outlined in the memo to
speakers/discussants from Marshall Kaplan and David Olsen.

We are compiling a series of articles on western state power problems and
possible options to overcome problems for distribution to  all Forum
participants.

We welcome your submission of any recent article or articles, or their
citations and/or web page references, that you have found interesting and
useful.  These might address subjects such as power challenges; alternate
policies with respect to supply and demand management; financing power
related infrastructure;  use of innovative technology with respect to energy
management and efficiency; or the convergence of power, environmental and
carbon emission reduction policies.

If you have an article or articles to submit for inclusion in the Forum
Notebook, please convey it electronically by responding to this e-mail, or
fax or mail it as noted in the signature concluding this message by no later
than May 4th.

If you are intending to write out your remarks to the Forum, we would also
welcome receiving those in advance of the Forum for inclusion in the
materials provided to participants.

Please feel free to contact us with any questions or comments.

Thanks for your attention to these requests.  We look forward to seeing you
at the Forum on May 22nd.

Sincerely,

Heidi VanGenderen, Senior Associate
Wirth Chair in Environmental and
Community Development Policy
Institute for Policy Research and Implementation
University of Colorado-Denver
1445 Market Street, Suite 350
Denver, CO  80202-1727
Tel - 303-820-5676
Fax - 303-534-8774

Marshall Kaplan
Tel - 303-820-5605


Trent data  StatDat and Errdev  thru 02/25/2002 is on the network.
JR


Attached is a letter regarding the above referenced.  Please contact Richard
Sanders if you have any questions.

Thanks
Twanda


yes for once

 -----Original Message-----
From: 	Riordan, Sean
Sent:	Wednesday, November 14, 2001 9:55 AM
To:	Tholt, Jane M.
Subject:	RE: Deal 1093464

therefore we are correct?

 -----Original Message-----
From: 	Tholt, Jane M.
Sent:	Wednesday, November 14, 2001 9:42 AM
To:	Riordan, Sean
Subject:	RE: Deal 1093464

price was GDA

 -----Original Message-----
From: 	Riordan, Sean
Sent:	Wednesday, November 14, 2001 9:20 AM
To:	Tholt, Jane M.
Subject:	FW: Deal 1093464

price was at GDA for nonbondad
Jane please advise on the below deal. Thanks.
SPR
 -----Original Message-----
From: 	Ellis, Laurie
Sent:	Wednesday, November 14, 2001 9:16 AM
To:	Riordan, Sean
Subject:	Deal 1093464

Sean, deal 1093464 is a sell to Southwest Gas for Oct-01 production.  On day 24, they show the price should be a fixed price of $2.64 (see email below).  However, we show 100% of ELPASO.SJNONBOND.GDP.  Can you please check on this for me and let me know your results?

Thanks
Laurie

 -----Original Message-----
From: 	"Nancy Frazier" <Nancy.Frazier@groupwise.swgas.com>@ENRON
Sent:	Tuesday, November 13, 2001 11:31 AM
To:	Ellis, Laurie
Subject:	Re:  October Purchases

Laurie, I have one problem on your invoice.  Package # Q91 (your ref 134 on 10/24 I show as a flat price of @$2.64.  I have checked here and our guys say $2.64.  Can you check your end.  No other problems.  Nancy


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 01/05/2001
05:17 PM ---------------------------

"Btu" <subs@Btu.net> on 01/05/2001 04:34:17 PM
To: "Btu's Weekly Power Report" <>
cc:
Subject: Btu's Weekly Power Report

Attached is the latest issue of Btu's Weekly Power Report

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

 - wp010801.pdf


Mom,
     hey what are you up to nothing much here man today   i  had to mow the lawn man its really hot down here is it really hot there ....................i still dont have a sun tan yet but its getting there u know.............. man i miss u so much and i mean hah i dought you miss me u are probably haveing to much fun to even think about me..............    >=) thats ok im haveing alot of fun here too .............man i cant wait till i come home i miss u so much..................umm i really dontknow what else to say so i mean i guess iwill talk to you l8er or sometin i have to go get ready to go to the mall and get somemore clothes and a new bathing suit and shorts and shoes so i will talk to you l8er love ya byebye.............

<3  Kara


Any day this week after 2:00pm works for me.  Just let me know.  I am located at 06466

 -----Original Message-----
From: 	Sudduth, Julia
Sent:	Wednesday, November 21, 2001 8:21 AM
To:	Neal, Scott
Subject:	time

Hey Scott
Realize the timing is terrible for a sit-down conversation.  But, I'm sitting on the 6th floor now in the new bldg now: 6193- and am guessing you're not far.  If you're around today and have time, let me know and I'll stop by to say hello.
Julie

Julia Young Sudduth
EWS East Power Trading
work:  713.345.1750


Tuesday, January 15, 2002  KWI   [IMAGE] HOME  - CONTENT SELECTION   - MEMBER SERVICES   - ADVERTISING   - PARTNERING   - CONTACT US      [IMAGE]          [IMAGE]  IN THIS ISSUE     [IMAGE]   [IMAGE]    Daily Edition for paul.d.thomas@enron.com  [IMAGE]     Electric Power News  Restructuring Today   RER's eMetrix Load Forecast: CAL ISO   Electric Power News - Top Stories  Electric Power News - Most Requested  Gas Industry News - Top Stories  Utility Stock Price - Top Gainers           Selected Content Not In This Issue  Utility Spotlight - Every Monday         [IMAGE]  ELECTRIC POWER NEWS     [IMAGE]   [IMAGE]  [IMAGE] [IMAGE] Selected 75 of 75  Articles Today!      THESE ARTICLES BROUGHT TO YOU BY     How can an Enterprise Energy Management strategy help utilities and  energy service providers balance supply and demand even when adequate  supplies exist? Silicon Energy's EEM Suite(TM) is a flexible system  that can balance a number of load demand management options and provide  a hedge on the most difficult situations now and in the future. Promote  large-scale participation in demand management by including all  customers - voluntary and mandatory curtailment, residential and small  commercial, distributed energy resource dispatch and monitoring. Click  http://www.siliconenergy.com/ecentral.htm  to register for our Load  Management web seminar.       Top Stories     U.S. clearance of UK Grid's Nimo bid "imminent"   LONDON, Jan 14 (Reuters) - Britain's National Grid Group Plc on Monday said final approval of its $3 billion takeover of U.S. power group Niagara Mohawk (Nimo) was "imminent".  [IMAGE]   Cabinet Officials Downplay Enron Calls   By Michael Hedges, Houston Chronicle, Jan. 14 Treasury Secretary Paul O'Neill said matters he discussed by telephone with Enron Corp. Chairman Ken Lay were "not new news" and not worth informing his boss, President Bush.  [IMAGE]   UBS to Share Profits From Enron Unit    By ALAN CLENDENNING AP Business Writer, NEW YORK, Jan 14, 2002 (AP Online via COMTEX) -- The Swiss investment bank that is buying Enron Corp.'s energy trading business will share a third of its profits with Enron and its creditors, a source familiar with the situation said Monday.  [IMAGE]   Lights out for U.S. utility stranded cost bonds?   NEW YORK, Jan 14 (Reuters) Investors may see in 2002 the last flicker of new utility stranded cost bonds, the once highly-touted sector in the $1.2 trillion U.S. asset-backed securities market.       Press Release     TransFormance Group Study Highlights Pitfalls For Australian Electricity Suppliers In State Of Victoria   Morristown, New Jersey - 14th January, 2002 Energy companies in Australia?s State of Victoria face significant new challenges in meeting customer expectations as full retail contestability (FRC) comes into effect on 1st January 2002. That?s the finding of new research by Transformance Group, who found that over 80% of Victorian consumers are aware of FRC and hope for significant reductions in electricity prices as a result of increased competition.        THOMAS M. RAY III NAMED PRESIDENT AND GENERAL MANAGER OF KWI NORTH AMERICA   HOUSTON (January 14, 2002) KWI, a leading supplier of trading and risk management systems for the energy market, has hired Thomas (Trip) M. Ray III as president and general manager of the company's North America operations.       California Crisis     Los Angeles Utility May Recover $62 Million from Southern California Edison   By Dana Bartholomew, Daily News, Los Angeles, Jan. 14 Although city officials had once expected to "kiss the money goodbye," Los Angeles may recoup $62 million this spring from Southern California Edison, which has pledged to repay a statewide $3.3 billion debt.       More Legal Battles Seen Likely In CPUC, PG?Bankruptcy Dispute   Jan. 14 (Utility Spotlight) The murky legal minefield distinguishing between state and federal energy regulatory jurisdiction surfaced in California last week (Jan. 8-9) when state regulators weighed in directly and indirectly in Pacific Gas & Electric's massive Chapter 11 bankruptcy proceeding in a federal court here, followed a day later by an aggressive regulatory move. Special Offer from this Publisher!        CPUC Includes Renewables in IOU Procurement Plans   Jan. 14 (California Energy Markets) With the optimistic expectation that the Department of Water Resources will exit the energy buying business in 2003, the California Public Utilities Commission, utilities and others are grappling with strategies for IOUs to resume procurement functions.  Special Offer from this Publisher!     [IMAGE] ADVERTISEMENT    ENERGIZE YOUR CAREER - The Energy Central Job Center has a new look,  new features, premier employers and is updated daily! Visit the energy  industry's largest on-line job center today:  http://www.energycentral.com/sections/jobs          Competition & Deregulation     Texas Residents Continue to Apply for Switch of Electricity Providers   By Dan Piller, Fort Worth Star-Telegram, Texas, Jan. 13 A total of 34,005 Texans have applied to switch electricity providers since Dec. 17, officials of the Electric Reliability Council of Texas reported Friday.       Most Ohio Residents Derive Little Benefit from Deregulation of Electricity   By Jon Chavez, The Blade, Toledo, Ohio, Jan. 13 When Ohio began its seven-year quest to deregulate its electric power industry a year ago, Lucas County administrator Ed Cieka was among those eager to take advantage of an expected fight by marketers to supply him with cheaper power.      Mergers, Acquisitions & Divestitures     Merger Talk: Oil majors poised to bridge energy divide   NEW YORK, Jan 14 (Reuters) - Big oil is limbering up for a push into the brave new world of deregulated power, in a move to reinforce its already strong grip on the energy business.       EU's De Palacio sees more mergers in the energy sector difficult   MADRID, Jan 14, 2002 (AFX-Europe via COMTEX) --  EU Transport and Energy Commissioner Loyola de Palacio said she believes further mergers in the European energy sector will be difficult, as the industry already boasts "a large concentration of firms."       Iberdrola Presents Surety in Bid for Eurogen   Jan 14, 2002 - FT World Media Abstracts via Comtex Iberdrola, the Spanish electricity company, has presented a 100m euro (Pta16.638bn) euro surety in order to bid for Eurogen, the largest of the three generation subsidiaries of Italian electricity group Enel, which is up for sale as part of the privatisation of the Italian electricity market.      Legislation/Regulation     Senate banking committee says sets hearing on Enron   WASHINGTON, Jan 14 (Reuters) The powerful Senate Banking Committee said on Monday it will hold a Feb. 12 hearing on Enron Corp., the energy trading giant whose bankruptcy filing last year threw thousands out of work, devastated investors and raised questions about its accounting practices.       APPA supports FERC proposal on market-based rates   Jan. 14 (Public Power Weekly) APPA ?fully supports? the Federal Energy Regulatory Commission?s efforts to protect consumers from market power abuse by imposing a refund condition on the market-based rate authority granted to investor-owned utilities. Special Offer from this Publisher!        NW Refund Attorneys Preview FERC Price Order Implications   Jan. 14 (Clearing Up) FERC brushed up against the $500-million Northwest refund proceeding in a global order last month, but then stepped back. Special Offer from this Publisher!       Rates     Rebate Delay on Power Bills   Jan 14, 2002 - Australasian Business Intelligence Victorians may have to wait up to three months for promised rebates on power bills.      General     Ex-Enron Execs Launch Own Firm   By BILL BERGSTROM AP Business Writer, PHILADELPHIA, Jan 14, 2002 (AP Online via COMTEX) -- Several former Enron executives launched a new company Monday to market energy services to small and medium-sized businesses instead of the large industrial customers the bankrupt giant had sought out.       Enron's Mark Is Deep in Political Pockets   By Julie Mason, Houston Chronicle, Jan. 13 Texas politicians, long the biggest beneficiaries of Enron Corp.'s prodigious campaign spending, are now facing the downside of the fallen corporation's political largess.       Enron Reportedly Gave to Politicians   TALLAHASSEE, Fla., Jan 14, 2002 (AP Online via COMTEX) -- Florida's pension fund investment in Enron Corp. has cost the state more than $300 million, but many top politicians received money from the Texas-based energy giant.       Document ordering data destruction raises legal questions, senator says   By H. JOSEF HEBERT Associated Press Writer, WASHINGTON, Jan 14, 2002 (AP WorldStream via COMTEX) -- The timing of an accounting firm's memo directing the destruction of documents raises the serious possibility of obstruction of justice, says the chairman of a Senate committee investigating Enron Corp.'s collapse.       Andersen Under Scrutiny: How Much Culpability Does the Accounting Firm Have for Enron's Collapse?   by Will McNamara, IssueAlert, Jan. 14 (Scientech) The heat on Enron's auditors went up another notch on Jan. 13 following a report that Arthur Andersen executives issued an order to destroy audit documents just days before Enron posted a $618-million third-quarter loss. Special Offer from this Publisher!        York County, Pa., Officials Blame Siren Silence on Computer Malfunction   By Sean Adkins, York Daily Record, Pa., Jan. 12 Contractors for Exelon Generation Co. spent most of Friday installing a new computer system and modem after 34 York County sirens fell silent during an annual emergency public notification test.       Enron Scandal Grows As Andersen Says Staff Disposed of Documents   Jan. 14 (Utility Spotlight) Amid the growing number of investigations into the mushrooming Enron scandal, Andersen, the nation's 5th largest accounting firm, notified the Securities and Exchange Commission that "in recent months individuals disposed of a significant but undetermined number of electronic and paper documents and correspondence relating to the Enron engagement." Special Offer from this Publisher!        Tacoma, Wash., Area May Buy Water from Lake Owned by Puget Sound Energy   By Rob Tucker, The News Tribune, Tacoma, Wash., Jan. 14 Some Pierce County cities may purchase water from Lake Tapps -- if a $250 million drinking water project materializes at the lake.      Joint Ventures & Alliances     Aquila and NiSource Form Alliance   KANSAS CITY, Mo., Jan. 14 /PRNewswire/ The Aquila subsidiary of UtiliCorp United and NiSource Inc. today announced the formation of a unique alliance under which the two companies will seek to capitalize on market opportunities and deliver comprehensive energy solutions by leveraging the capabilities and knowledge of the two companies.      Trading/Marketing     New electricity exchange quietly launched on partially liberalized market   By Chris Johnstone, Jan 14, 2002 (New World Publishing via COMTEX) --  Czech electricity liberalization got off to a slow start with hesitant early trading on the new short-term exchange for power purchases.      New Technologies/Markets     Australian Utility Plans Broadband Internet Service   By Adam Creed, PERTH, AUSTRALIA, Jan 14, 2002 (Newsbytes via COMTEX) --  Australian energy company Western Power is planning to offer high-speed Internet access and video-on-demand to homes and small businesses.      Deals/Contracts     Duke/Fluor building 3 power plants in Western U.S.   SAN FRANCISCO, Jan 14 (Reuters) Duke/Fluor Daniel has been awarded contracts to build three natural gas-fired power plants with a combined capacity of 2,420 megawatts in the Western United States, Duke Energy said in a statement Monday.       Keppel FELS unit wins 400 mln usd electricity supply contract in Brazil   SINGAPORE, Jan 14, 2002 (AFX-Asia via COMTEX) --  Keppel FELS Energy said its unit Nordeste Generation Ltd has signed a 400 mln usd "take-and-pay" contract with the Commercializadora Brasileira de Energia Emergencial (CBEE) for the supply of electricity to northeastern Brazil.      Power Pricing/Supply     East Power Ends Mostly Steady as Mild Weather Lingers   Jan. 14 (Btu's Daily Power Report) Pressured by weather milder than anticipated deals at the Northeast and Mid-Atlantic regional trading hubs edged below Friday for Monday values. Special Offer from this Publisher!        Misery Loves Company   Jan. 11 (Energy Market Report) Heavy load energy costs in the Western U.S. rose for Monday delivery on expectations of more weather-related demand at the start of the new week, as well as on the usual premium that occurs when scheduling three days out. Special Offer from this Publisher!       Transmission & Reliability     Central Maine Power says 31,000 remain powerless   AUGUSTA, Maine, Jan 14 (Reuters) Some 31,000 customers of Central Maine Power remained without power on Monday one day after storm unleashed heavy, wet snow and high winds on New England.       Gov't to Retain Control of Nepa's Transmission   Jan 14, 2002 - Africa News Service Even as work continues on government's proposed privatisation of the National Electric Power Authority (NEPA), the Minister of State, Power and Steel, Alhaji Murtala Aliyu has said that government would retain its hold on the transmission segment of the power sector.      Legal     Judge Says Enron's Bankruptcy Trial Will Stay in New York City   By Charlene Oldham, The Dallas Morning News, Jan. 12 Some former employees of Enron Corp. savored mental images of what company executives might face during a bankruptcy trial in the city that once counted the energy trader among its most successful corporate citizens.       Texas Attorney General Recuses Himself from Enron Inquiry   By Jay Root, Fort Worth Star-Telegram, Texas, Jan. 12 Joining a growing list of politicians seeking distance from collapsed energy giant Enron, Texas Attorney General John Cornyn recused himself Friday from a state investigation of the company.       Consumer Right to Be Decided in Power Case   Jan 14, 2002 - Africa News Service The right of power consumers to challenge in court power tariffs will be known when the Court of Appeal starts sitting in Mombasa today.      Renewables     Investors Sought for Thai Solar-Cell Hub   By Srisamorn Phoosuphanusorn, Bangkok Post, Thailand, Jan. 14 Investors have been invited to contribute US$11 million for a 54 percent stake in a solar-energy venture that its sponsors claim will turn Thailand into one of the top five countries for the production of photovoltaic solar cells.       Thai Developer to Ride Out Delay of Hydro-Electric Power-Plant Construction   By Charoen Kittikanya, Bangkok Post, Thailand, Jan. 14 The profitability of Italian-Thai Development Plc is unlikely to be reduced by the government's postponement of an agreement to buy power from the Nam Theun 2 project in Laos.       State to Buy More Green Power   Jan 13, 2002 - Australasian Business Intelligence The Victorian Government is to announce a new electricity agreement on 14 January 2001.       Big Boost for Power Windmills   Jan 13, 2002 - Australasian Business Intelligence The Acting Victorian Premier, John Thwaites, has forecast that windmills will be used to generate the State's electricity.       Battle for Construction of Wind Turbines in The North Sea Commences   Jan 14, 2002 - FT World Media Abstracts via Comtex The battle for the construction of wind turbines off the coast near Egmond in the Netherlands has commenced.       KING MOUNTAIN AND STATELINE PROJECTS FULLY OPERATIONAL   Jan. 11 (Wind Energy Weekly) FPL Energy announced on January 7 that the 278-MW King Mountain Wind Ranch near Odessa, Tex., and the 263-MW Stateline Wind farm near Walla Walla, Wash., both went into full operation in mid-December.  Special Offer from this Publisher!       Plants     TXU Europe to mothball 2 UK power stations as wholesale prices slide   LONDON, Jan 14, 2002 (AFX-Europe via COMTEX) --  TXU Europe, a division of TXU Corp and the largest supplier of energy in the UK, said it will mothball two of its UK units, due to low wholesale prices and system over-capacity.      People     Enron CEO Took Long Path from Farm to Rig   By Robert Schlesinger, The Boston Globe, Jan. 13 Kenneth Lay came from humble roots that, his friends and associates say, he never forgot.       Bewag chairman Winje to step down this week - report   FRANKFURT, Jan 14, 2002 (AFX-Europe via COMTEX) --  Bewag AG's chairman Dietmar Winje will step down this week, Financial Times Deutschland reported, citing company sources.       Review Shows Enron Chief, Wife Gave More Money to Bush in Texas Governor Race   By Wayne Slater, The Dallas Morning News, Jan. 12 In distancing himself from Enron, President Bush said that CEO Kenneth Lay "was a supporter" of Democrat Ann Richards in his first race for Texas governor in 1994.      Fuel     Coal Set for Greening in Lower Emission Research   Jan 13, 2002 - Australasian Business Intelligence The Queensland coal industry, which is the source for 95 per cent of the state's electricity, employs almost 10,000.      Environmental     Bush Moves Worry Environmental Community   By Bennett Roth, Houston Chronicle, Jan. 14 The environmental community has grown increasingly concerned that the Bush administration is quietly rolling back water, air and land protections, making changes that have gone largely unnoticed as war and the economy have dominated the headlines.       Round table promotes emissions-trading system to reduce pollution   ALISON AULD, HALIFAX, Jan 14, 2002 (The Canadian Press via COMTEX) -- Canada could save $20 billion over the next decade if it adopts an innovative program that uses financial incentives to encourage companies to cut greenhouse gas emissions, according to a federal report.       Heat Rises on 'New Source Review' As Reforms Continue Taking Shape   Jan. 14 (Utility Spotlight) Critics of the Bush Administration are cranking up their opposition to possible changes in the "new source review" (NSR) provisions of the Clean Air Act. Special Offer from this Publisher!        Utility Tops Triad Polluters   Jan 13 - Greensboro News Record On an abnormally warm day in December, Katherine Welch sits in a metal chair on her front porch in rural Stokes County and enjoys the weather.      Nuclear     Officials at California Nuclear Power Plant Reassure Residents about Security   By Jessica Peralta and Chris Knap, The Orange County Register, Calif., Jan. 11 Officials at the San Onofre Nuclear Generating Station say security at the plant is so tight the possibility of a breach is almost nonexistent.       Austrian party launches weeklong petition against Czech nuclear power plant   By VANESSA GERA Associated Press Writer, VIENNA, Austria, Jan 14, 2002 (AP WorldStream via COMTEX) -- A nationwide petition backed by the far-right Austrian Freedom Party began on Monday, calling for a veto of the Czech Republic's admission into the European Union if it does not shut down a nuclear power plant near the Austrian border.       Controversial nuclear plant shuts down again   PRAGUE, Czech Republic, Jan 14, 2002 (AP WorldStream via COMTEX) --  A technical malfunction on Monday triggered the shutdown of a nuclear power plant near the border with Austria for the second time in only four days, an official said.       Energy Department Endorses Yucca Mountain as Nuclear Waste Site, But Battle Is Far From Over   by Will McNamara, IssueAlert, Jan. 11 (Scientech) Addressing the most troubling issue facing the nuclear industry, Energy Secretary Spencer Abraham on Jan. 10 chose Yucca Mountain in Nevada to be the U.S. burial site for thousands of tons of nuclear waste. Special Offer from this Publisher!        Former California Nuclear Plant Employee Awaits Arraignment   The Orange County Register, Calif. , Jan. 11 The fired nuclear-plant employee whose alleged threats sparked a brief national scare faced 13 charges Thursday, weeping as he walked into a courtroom wearing shackles and an orange jumper.      Financial     Former Enron CEO Skilling shorted competitor's stock   NEW YORK, Jan 14 (Reuters) Jeffrey Skilling, the former chief executive of Enron Corp., sold short AES Corp.'s stock last summer in a bet that the competing power company's share price would fall, his spokeswoman said on Monday.       Enron worker warned execs on accounting -lawmakers   WASHINGTON, Jan 14 (Reuters) An Enron Corp. employee warned the energy giant's top executive in August 2001 about potential problems with how it accounted for certain transactions, Congressional investigators said on Monday.       Enron Shares Halted on NYSE   Jan 14, 2002 - AFX News Limited Enron Corp shares were halted at the market opening on the New York Stock Exchange.      Financial - Ratings     British Energy seen active as Morgan Stanley turns positive   LONDON, Jan 14, 2002 (AFX-UK via COMTEX) --  Shares in British Energy PLC are expected to be actively traded in response to an upgrade in stance from Morgan Stanley, dealers said.       European utilities' rating downgrades set to continue in 2002 - Moody's   LONDON, Jan 14, 2002 (AFX-Europe via COMTEX) --  Moody's Investors Service said it expects credit rating downgrades among European utility companies to continue in 2002.      International     The power play   By Hana Lesenarova, Jan 14, 2002 (New World Publishing via COMTEX) --  The lights burned late last week at the Kramar Villa, the prime minister's official Prague residence, as the government attempted to close the sale of the CEZ electricity package to Europe's biggest electricity company, Electricite de France.       No easy solution to Elektrim troubles   By Roseanne Gerin, Jan 14, 2002 (New World Publishing via COMTEX) --  A group of shareholders in troubled telecom and energy firm Elektrim hope to devise a plan by next month to save the company from bankruptcy.       Guyana's government criticizes private management of electricity utility   GEORGETOWN, Guyana, Jan 14, 2002 (AP WorldStream via COMTEX) --  Government officials said Monday they are unhappy with the management of a British-Irish consortium that owns half of and operates the South American country's electricity utility.       BNDES Spent Less on Electricity in 2001   Brazil, Jan 14, 2002 (BNamericas.com via COMTEX) --  Brazil's national development bank BNDES released less money in 2001 to the electricity sector, despite announcements to the contrary and the power crisis in Brazil.       Regulator to Step in to Save Electrolima Jan. 18-21   Colombia, Jan 14, 2002 (BNamericas.com via COMTEX) --  Colombia's public services regulator Superservicios will step in to save Tolima department distributor Electrolima between January 18 and 21, to avoid power cuts to more than 250,000 people, a Superservicios source told BNamericas.       Emergency Power Plants to Cost Government R$4bil   Jan 14, 2002 - South American Business Information The provision of emergency power supplies planned by the Brazilian government will cost up to R$4bil by the end of 2005.       Companies Welcome End of Mae, But Express Reservations   Jan 14, 2002 - South American Business Information The restructuring of the Brazilian electricity sector, announced by the government in the second week of January, is seen as an important step in redefining the regulatory environment for the sector.       Spanish Clients Abandon Enron   Jan 14, 2002 - FT World Media Abstracts via Comtex The crisis involving Enron, the US energy company which suspended payments, is affecting Spain.       Enron Fallout Extends to Britain   Jan 14, 2002 - United Press International Lord John Wakeham, the former Conservative government minister and the chairman of Britain's Press Complaints Commission, Monday faced the prospect of being called to the U.S. Senate to give evidence on the collapse of the Enron energy corporation.       Dynegy Create Subsidiaries to Compete in The Spanish Energy And Telecoms Markets   Jan 14, 2002 - FT World Media Abstracts via Comtex Dynegy, the energy services subsidiary of US oil group Chevron Texaco, is to enter the Spanish market.       No Power Crisis in Ghana This Year: Official   Jan 14 - Xinhua News Agency - CEIS Volta River Authority (VRA), Ghana's sole electric power supplier, said on Friday that there would be no power shortage this year and assured consumers they would not revisit the crisis of 1997, the Ghana News Agency reported.       Northern delight at Ofgem's switch-off   Jan 13 - Independent - London Britain's energy regulator will tone down controversial plans that would have raised the cost of generating electricity in the north of the UK.   [IMAGE]     Powered by Energy Central   ? 2001 CyberTech, Inc. All rights reserved.  More News        Top   Excelergy    [IMAGE]  RESTRUCTURING TODAY      [IMAGE]   [IMAGE]  [IMAGE] [IMAGE] January 14, 2002     Switching customers to affiliates bogs down in Texas      US judge may make Enron execs pay  for workers' loss      Enron flap now becomes major political issue      If one marketer files bankruptcy why would futures fall 30%? McCullough finds Enron rich in customer deposits      Calif AG sues PG?for taking money from utility      Pa price caps work to keep marketers  out of business      FERC talks to weigh MISO-PJM tie but  not a merger      Going back in Georgia to cost $500 million      New Calif poll shows Houston didn't create crisis        Powered By US Publishing   ? 2001 US Publishing. All Rights Reserved.  More Info     Top    [IMAGE]  RER'S EMETRIX LOAD FORECAST: CAL ISO     [IMAGE]   [IMAGE]  [IMAGE]  Actual and forecasted hourly load for CAL ISO.  [IMAGE]  CAL ISO Chart    Powered By RER   ? 2001 RER. All Rights Reserved.    Top    [IMAGE]  ABOUT ENERGY CENTRAL DIRECT     [IMAGE]   [IMAGE]   ABOUT ENERGY CENTRAL DIRECT This e-mail summary service is provided FREE to qualified professionals in the power industry. 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Here are the settles.  Thanks.

John

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Monday, October 22, 2001 2:54 PM
To:	Griffith, John
Subject:

 << File: Daily Settles.xls >>


Amitava,

Can you schedule a brainstorming session with Vasant, Tanya, Rakesh, myself
and Ben (if possible)?

What about the trip on Monday. Has it been scheduled?

Vince

Amitava Dhar@ENRON
01/03/2001 08:30 AM
To: Vince J Kaminski/HOU/ECT@ECT, Ben Parsons/LON/ECT@ECT
cc: Vasant Shanbhogue/HOU/ECT@ECT
Subject: CreditDotCom Projects

The following is a good summary from Vasant about the projects and what is
ahead of us.
Ben, please let me know when things are ready; I can plan my trip accordingly.
Thanks,
Amitava

EnronCredit.com is working on 3 main models --- the FMC model, the Placement
model, and the Movement model.
FMC Model : provides credit default swap price curves for 16 ratings with 33
industry offsets.  Each day, this model takes the previous day's trader
curves and adjusts them for the movement in Bloomberg yields and observed
swap prices.
Placement Model : uses linear regression to credit default swap prices using
dummified ranges for Market Capitalization, Liquidity, KMV Score, etc.  One
main issue here is that the dataset is biased towards investment grade
names.  Alternate approaches looked at developing separate models for
separate sunsets of names.
Movement Model : provides an alert system for news.  This is under
development.

Current involvement of Houston Research Group members is in the
development/modifications of the Placement Model, especially in thinking
through the various single vs multi model approaches.  We can help in the
brainstorming for better models for subsets.  One main project right now is
to get a separate model for subsidiaries, and to exclude subsidiary names
from the main regression.

Value-at-risk is based on historical variance-covariance approach.

The portfolio model is under development.

Agenda for Houston Research Group members :

Once sufficient data is collected, start reviewing for potential analytic
relationships.
Get weekly updates from London, and provide feedback.
Plan on a trip if the work warrants it, once the agenda is fairly well drawn
out, and data is available for analysis.


---------------------- Forwarded by Christopher F Calger/PDX/ECT on
02/06/2001 09:39 AM ---------------------------

Scott Gahn@EES
02/06/2001 08:32 AM
To: Christopher F Calger/PDX/ECT@ECT
cc: Dave Roberts/HOU/EES@EES, Mary Sullivan/HOU/EES@EES, Mike D
Smith/HOU/EES@EES, Mark Dobler/HOU/EES@EES, Gary Weiss/HOU/EES@EES, Dan
Leff/HOU/EES@EES, Marty Sunde/HOU/EES@EES, Don Black/HOU/EES@EES
Subject: EES Voluntary Curtailment Proposal

Here is another version - minor changes based on comments.


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


Please see attached.   Don't hesitate to call me if you have any questions or
concerns.

Stan


Tony

Wow I don't think so.   I thought I would rewrite yours and correct some of
the factual errors.  If you disagree please write me back.

I moved from our Houston office in 1994 to Calgary and in 1999 was named
President of the Canadian operation.  We went from a small gas marketing shop
to the dominant natural gas trader and originator in Canada.  It was
absolutely awesome.  I had the time of my life.  We built the business with
very little supervision from Houston into a major contributor to Enron Corp's
bottom line.  These days, as many people know, we are using the same trading
and risk management skills that we learned in the energy business to create
liquid tradable markets in bandwidth, pulp and paper, coal, and many others.
So our newer people still have the chance to do what I did in Canada and help
build revolutionary new businesses.

What a lot of people don't realize is how dominant our trading and risk
management presence is in Natural Gas and Power.  The opportunities our
outstanding and the challenges will test the best minds out there.  These
businesses are interesting and very complicated with a million different
variables to figure out ranging from the weather to the levels of gas storage
in Montana to how to move power from New York to South Caralina.  You can't
put gas and power on a truck or store them in a warehouse like other
commodities.  Its not like trading bonds, where you sit around and try to
figure out what the Fed is going to do.  It has much more complexity, and if
you like trying to solve complex problems and your good at it.....get down
here! .... we need you!

John's callout quote

Enron's not a place where you can hide.  If you can't get it done you won't
fit in.  But if you can, and you work hard, you'll get noticed, you'll
excell, you'll get paid, and we're going to love you.


Thought you might get a "kick" out of this.
mg
---------------------- Forwarded by Mathew Gimble/HOU/ECT on 01/31/2001 04:54
PM ---------------------------

	Enron North America Corp.

	From:  David Fairley                           01/31/2001 03:37 PM

To: Mathew Gimble/HOU/ECT@ECT, Barton Clark/HOU/ECT@ECT, George
McCormick/HOU/ECT@ECT
cc:
Subject: Fw: Hit My Monkey

---------------------- Forwarded by David Fairley/HOU/ECT on 01/31/2001 03:36
PM ---------------------------

Joseph Wagner@ENRON
01/31/2001 01:52 PM
To: David Fairley/HOU/ECT@ECT, Kathleen Wagner/NA/Enron@Enron,
leigh.trent@pathfinderlwd.com
cc:
Subject: Fw: Touch My Monkey

---------------------- Forwarded by Joseph Wagner/NA/Enron on 01/31/2001
01:51 PM ---------------------------

	From:  Kyle Schultz @ ECT                           01/31/2001 01:46 PM

To: Joseph Wagner/NA/Enron@Enron
cc:

Subject: Fw: Touch My Monkey

---------------------- Forwarded by Kyle Schultz/HOU/ECT on 01/31/2001 01:45
PM ---------------------------

	From:  Maria Valdes @ ENRON                           01/31/2001 08:22 AM

To: Kyle Schultz/HOU/ECT@ECT, Lisa Burnett/Corp/Enron@Enron, Corry
Bentley/HOU/ECT@ECT
cc:
Subject: Fw: Touch My Monkey

---------------------- Forwarded by Maria Valdes/Corp/Enron on 01/31/2001
07:20 AM ---------------------------

Chris Hellman <hellmanc@swbell.net> on 01/30/2001 05:01:06 PM
Please respond to Chris Hellman <hellmanc@swbell.net>
To: Winnie Winfield <jgw@houston.rr.com>, Trista <TLJAMAIL@aol.com>, Smokey
<juliesak@gte.net>, Senorita Kitty <Maria.Valdes@enron.com>, Pee Tee Shippie
Home <pshipman@houston.rr.com>, Jed Bacon <John_L_Bacon@Dell.com>, Gillian
<gillian.k.boyer@us.arthurandersen.com>, Chambers
<chambers@austin.metrowerks.com>
cc:

Subject: Fw: Touch My Monkey

need sound for this one.

 - monkeylooker_ad.exe


Enron Managers, Directors, Vice Presidents and Managing Directors Who Utilize
the Associate/Analyst Pool

The Associate and Analyst Department has finalized fall recruiting dates.  An
important part of our recruiting effort is the final round of interviews
which are conducted here in the Enron Building on selected weekends during
October, November and December.   These are the famous &Super Saturdays8.

We invite you to attend and participate in this process.  We will need
approximately 50-75  volunteers for each Super Saturday to participate either
in the dinners on Friday night or in the interview process on Saturday.  More
information will be made available as we get closer to these dates.  Please
mark your calendars for the following Super Saturday weekends and(.

SAVE THESE DATES

October 28-29, 2000
November 3-4, 2000
November 10-11, 2000
November 17-18, 2000
December 1-2, 2000
December 9-10, 2000


Are you aware of what has been happenning at EOTT lately?

ARE YOU INTERESTED IN FINDING OUT WHERE EOTT'S NEW CORPORATE OFFICE WILL BE??

Do you know about Power Optimization...or Data Warehousing?  What about our
EOTT Heroes?  Can you name those employees that have been here longer than 15
years???  Interested in details on some of our field facilities.

OR What about some FUN mind games?  Interested?  We sure hope so!  I would
like to welcome our first quarter 2000 EOTT Connection.

The EOTT Connection is available via our intranet - by clicking on the Quick
Links calendar icon .

I hope all of you will take the time to read through the articles....valuable
information can be found on every page!
Don't try to digest it all in one setting.  The power of this new medium is
that you can access it quickly and always
know where to find it.

And please, let us know what you like, don't like and give us your ideas for
future quarterly editions.


---------------------- Forwarded by Gerald Nemec/HOU/ECT on 02/02/2000 01:45
PM ---------------------------

Brian Hendon@ENRON COMMUNICATIONS
02/02/2000 01:07 PM
To: Gerald Nemec/HOU/ECT@ECT, Bruce Rudy/Enron Communications@Enron
Communications
cc:
Subject: Funny

This is a real news report

>>Yahoo! News
>>Aggies are  getting themselves into trouble again....
>>
>>  AP. A Texas A&M University student who claimed he had
>>been raped by a
>>dog
>>  was yesterday jailed for 12 months. Martin Hoyle, 20,
>>was arrested by
>>police
>>  after the
>>  passengers of a passing car witnessed a Bull Terrier,
>>called Badger,
>>having
>>  sex with Hoyle on the side of Highway 290, just north
>>of Hempstead.
>>  Assistent District attorney Ben Crossland said the
>>passengers of the
>>car, an
>>  unidentified couple from Houston, had stopped to help
>>because they
>>thought
>>  Hoyle was being attacked by the animal.  But when
>>they got closer they
>>saw
>>  that Hoyle had his pants around his ankles, was down
>>on all fours, and
>>the
>>  dog was straddling him from behind.
>>
>>  "The defendant mumbled something about the dog having
>>taken a liking
>>to
>>  him," said Mr Crossland.  "The couple were extremely
>>offended and
>>sickened
>>  by what they saw." Another individual in a passing
>>car contacted
>>police on a
>>  cellular phone and Hoyle was arrested as he walked
>>with the dog on the
>>  feeder road. Hoyle, of College Station, told police
>>"I can't help it
>>if the
>>  dog took a liking to me.  He tried to rape me." He
>>repeated the rape
>>  allegation at the police station and added, "The dog
>>pulled my jeans
>>down."
>>
>>  Hoyle, who has been arrested several times on
>>alcohol-related charges,
>>was
>>  jailed for 12 months after he admitted committing an
>>act that outraged
>>  public decency. His lawyer said Hoyle had no memory
>>of the incident
>>because
>>  of his intoxicated state, but was now very remorseful
>>and incredibly
>>  embarrassed. Jailing him, Judge Alistair McCallum
>>told Hoyle "Never
>>before
>>  in my time at the bar or on the bench have I ever had
>>to deal with
>>somebody
>>  who voluntarily allowed himself to be molested by a
>>dog on the public
>>  highway. Frankly it is beyond most of our
>>comprehension. It is an
>>absolutely
>>  disgusting thing for members of the public to have to
>>witness."
>>
>>__________________________________________________
>>Do You Yahoo!?
>>Talk to your friends online with Yahoo! Messenger.
>>http://im.yahoo.com
>

______________________________________________________
Get Your Private, Free Email at http://www.hotmail.com

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This change should be made by those who have added the URL as a favorite on
the browser.


Per our discussion, please review and provide comments asap.

 -----Original Message-----
From: 	"Jeffrey Stone" <jas@beggslane.com>@ENRON
Sent:	Monday, November 26, 2001 4:51 PM
To:	Nemec, Gerald
Cc:	Hilgert, Chris; mawhowel@southernco.com
Subject:	Construction Expedition Letter

Here are Gulf's proposed changes to match the concept discussed earlier this afternoon.

-----Original Message-----
From:	Nemec, Gerald [SMTP:Gerald.Nemec@ENRON.com]
Sent:	Wednesday, November 21, 2001 10:38 AM
To:	rab@beggslane.com; Howell, Marion W.
Cc:	Hilgert, Chris; Owen, David; Alexander, James C.
Subject:	Construction Expedition Letter

For your review is the draft Construction Expedition Letter per our
discussions Monday.

 <<GulfExpediteLetter2.doc>>

**********************************************************************
This e-mail is the property of Enron Corp. and/or its relevant affiliate and may contain confidential and privileged material for the sole use of the intended recipient (s). Any review, use, distribution or disclosure by others is strictly prohibited. If you are not the intended recipient (or authorized to receive for the recipient), please contact the sender or reply to Enron Corp. at enron.messaging.administration@enron.com and delete all copies of the message. This e-mail (and any attachments hereto) are not intended to be an offer (or an acceptance) and do not create or evidence a binding and enforceable contract between Enron Corp. (or any of its affiliates) and the intended recipient or any other party, and may not be relied on by anyone as the basis of a contract by estoppel or otherwise. Thank you.
********************************************************************** << File: GulfExpediteLetter2.doc >>
 - GulfExpediteLetter2.doc


Due to the President's Day Holiday on next Monday, February 18, Steve will hold his staff meeting on Tuesday, February 19, same time, same location.

As a courtesy to all attendees, Steve is asking, once again, that all participants arrive by 2:30 pm allowing for a prompt start time and for discussions to flow in an effective manner.    Your contributions to the discussions are crucial and deserve to be heard by all concerned.  Achieving this objective is why we ask your cooperation.

Because our attendee list has grown significantly in the past few months, arrangements have been made with facilities to have a standing order of chairs available for your convenience.

Please call if you have any concerns or questions.

adr

Audrey D. Robertson
Transwestern Pipeline Company
email address:  audrey.robertson@enron.com
(713) 853-5849
(713) 646-2551 Fax


I'm looking at it right now.  Could you please email it to me?

Thanks,

Kay


Tyrell Harrison
303 575 6478


Hi

Please note my NEW (changed) e-mail address

Ibalenovic@gov.mb.ca <mailto:Ibalenovic@gov.mb.ca>

Ivan J. Balenovic


Alert Posted: 3:25 PM Monday, September 24, 2001: GOS Scheduled Maintenance
GOS will be down on Monday, September 24, 2001 from 11:00 p.m. until 2:30 a.m. on Tuesday, September 25, 2001 for scheduled maintenance.
 We apologize for any inconvenience that this may cause.  Thank you.


We have no way to input a storage deal for Cilco.  The way that the contract
is set up, does not fit into the systems as they are.

D

   Aimee Lannou                02/04/2000 09:31 AM

To: Daren J Farmer/HOU/ECT@ECT
cc: George Grant, Pat Clynes/Corp/Enron@ENRON, Robert E Lloyd/HOU/ECT@ECT
Subject: Cilco Storage Withdrawal

Daren - Can you set up a deal for the Cilco withdrawal for Dec. 99 going
forward?  I know a deal has never been set up for this but volume management
wants a deal set up so they won't have to set up an accounting arrangement
evey month.  Please let me know, I'd appreciate it.

Thanks.

Aimee


Just got off the phone with outside counsel for Credit Agricole.  We're very
close.
Tanya:  Can you tell me what products we trade? Are there many outstanding
transactions?  Also, I'd like to make sure that the "credit worksheet" is
current.  It looks like we're working off of something dated 1/31/96 (Terry
Donovan!!!!!).  This must be wrong.


I got the package on the 2002 PBS special.  We are already doing a
significant PBS sponsorship in connection with a series based on Dan Yergin's
(author of The Prize) new book "The Commanding Heights".  We have looked at
numerous Public Broadcasting sponsorships in the past, but the ratings are so
low they tend to be a very inefficient means of reaching our target
audience.  We made an exception for yergin's series because it focusses on
the role of free markets and their relationship with governments over time.
I'll ask Margaret Allen to handle the decline.


These were the next to last drafts (before correcting any typos).


Attached are more articles that speak of the current California power crisis.

Mercury News Article primarily dealing with Governor Davis' view on the
situation and what he is doing to help solve the issue. Davis has a three
part plan: investigate price gouging, ask PUC to set up two-year plan to cut
rates in half and asked for voluntary conservation.

Asking Clinton to speed up a federal probe of apparent electricity
price-gouging by out-of-state power producers and called on state regulators;
A spokesman for the independent energy producers said his group welcomed a
federal investigation, saying it would determine that ``California simply
does not have enough generating and transmission capacity.''
To stabilize skyrocketing utility bills in San Diego; Davis called upon the
Public Utilities Commission on Wednesday to set up a two-year plan to cut
rates nearly in half for residential and business customers of San Diego Gas
& Electric.  Davis described his proposal as ``a rate-stabilization plan''
designed to lower bills. ;Nettie Hoge, executive director of The Utility
Reform Network, a consumer group, criticized Davis' plan. She said consumer
groups want the Legislature to freeze rates in San Diego at July 1999 levels.
Volunary actions: Davis joined with grocers to announce a voluntary program
to conserve power on extremely hot days, meaning lights in Bay Area
supermarkets would be dimmed and air conditioning dials set higher to cut
power use by 10 percent.
Davis contends that deregulation will work out, perhaps in three or four
years, when a dozen or more power plants in the pipeline start generating
electricity.

Mercury News article states it is not time to re-regulate the markets and
provides the following solutions to solve the crisis.
Matters will improve when California has:
-> More sources of power.
-> A more sophisticated electricity market.
-> Smarter consumers -- that is, consumers with the information they need to
be thrifty.
Also the article talks of the Power Exchange (PX) and the Independent System
Operators (ISO) and how these two groups are making the prices higher; i.e
market imperfections that result from the uniqueness of electricity as a
commodity and the immaturity of the new exchanges are enabling producers to
obtain higher prices than the underlying conditions dictate.
Article concludes by saying the deregulated market is just beginning and with
a few adjustments will work out fine

Mercury News article speaking of a new report commissioned by Governor Davis
on the energy crisis. The article is primarily about the following issues.
A report commissioned by Gov. Gray Davis concluded that deregulation is ``not
working,'' and recommended a series of actions, including asking the federal
government to help control prices.
The report was written by the president of the California Public Utilities
Commission and the chairman of the California Electricity Oversight Board and
made 30 recommendations to help ease the threat of power shortages and price
spikes.
Report suggested that  the state-mandated freeze on utility rates, which is
tentatively in place for PG&E customers through March 2002, might need to be
extended further.
The report also suggested the upgrading power transmission lines into San
Francisco and  hooking up businesses to a central command center via the
Internet, so their lobby lights and air conditioning could be turned off
automatically when state power supplies were low.
Two key state agencies, the Independent System Operator and the Power
Exchange, were criticized in the report. It accused the ISO and the Power
Exchangeof being unresponsive to the needs of consumers, in part because
their boards include people with ties to power companies. It also complained
that they did not provide key pricing and other data requested by the
report's authors to assess the state's energy problems.
Also in the article is a repsonse by the ISO and PX to the claims made in the
governor's report.


-----Original Message-----
From: 	Heizenrader, Tim
Sent:	Wednesday, October 17, 2001 8:08 AM
To:	Allen, Phillip K.
Cc:	Nelson, Kourtney
Subject:	RE:

Phillip:

The target for end of October is 1283. We're not sure what's driving the day to day variation. Direct effects of recent precipitation, combined with some very big precip forecast errors, are part of the explanation, but there also appears to be something going on with management of the non-treaty storage that BPA's cached upstream in Arrow. We've been looking into that, and hope to get some news via Technical Management Team today.

From a multi-purpose project manager's perspective, I think that current reservoir elevation is one or two feet too high, so I do expect drawdown by month end. I also suspect that there are some limits in the non-treaty storage approaching that require at least partial withdrawal.

The net effect should be a rise in production-- no more downstream storage is available and upstream releases will increase, certainly by November 1, but probably earlier.

Tim
 -----Original Message-----
From: 	Allen, Phillip K.
Sent:	Wednesday, October 17, 2001 7:31 AM
To:	Heizenrader, Tim
Subject:

Tim,

Since the three nuclear units have gone down there has been a significant increase in imports into California from the northwest which coincides with increased hydro output.  This has continued to suppress Socal gas sendouts.    Grand Coulee outflows on Monday and Tuesday have exceeded inflows.  Monday: In-69.8, Out-73.4; Tuesday: In-57.7, Out 68.2.  The elevation is starting to creep lower.

Can you help us with these questions?  Will this drafting to continue?  What is the elevation target for the end of the month?  Why did yesterday's inflow decline so much?

Thank you,

Phillip Allen


Thank you.  I'm not getting it.  Please continue sending if you can.  Thanks
very much.  Jeff

	James D Steffes
	03/06/2001 04:42 PM

		 To: Tim Belden/HOU/ECT@ECT, Jeff Dasovich/NA/Enron@Enron
		 cc:
		 Subject: California Update 3/06/01

FYI.  This information comes from ENA Competitive Analysis.  Not sure if
you're getting this.

Jim

----- Forwarded by James D Steffes/NA/Enron on 03/06/2001 04:41 PM -----

	Kristin Walsh/ENRON@enronXgate
	03/06/2001 04:04 PM

		 To: John J Lavorato/ENRON@enronXgate, Louise Kitchen/HOU/ECT@ECT
		 cc: Richard Shapiro/NA/Enron@Enron, James D Steffes/NA/Enron@Enron, Phillip
K Allen/HOU/ECT@ECT, Mike Grigsby/HOU/ECT@ECT, Kevin M Presto/HOU/ECT@ECT,
George Hopley/HOU/ECT@ect, Mark Tawney/ENRON@enronXgate, Claudio
Ribeiro/ENRON@enronXgate, heizenrader@home.com@SMTP@enronXgate, Rob
Milnthorp/CAL/ECT@ECT, Vince J Kaminski/HOU/ECT@ECT, Britt
Whitman/ENRON@enronXgate, Scott Tholan/ENRON@enronXgate
		 Subject: California Update 3/06/01

Executive Summary
? If no comprehensive deal is reached by April 9th, chances of bankruptcy
increase due to a one day "opt-out" clause in all long-term power contracts.
? PG&E and State locked in tough negotiations, several issues on the table:
 PUC-imposed requirement forcing PG&E to ultimately be responsible for
California energy supplies
 Price of the grid; state - 2.3 times book value vs. PG&E - 4 times book value
? PG&E will not use any of the $1B secured last week to help their ailing
utility.
? Davis's announcement of long term power contract didn't include some
details:
 Of the 8,800 megawatts secured this far, only 6,000 are available this
summer
 Some of the "long term contracts" are really only for three months
 None of the contracts prevent California from buying peak demand on the spot
market
? One the same day Davis announced long term contracts, Davis also quietly
announce a 10% rate hike.
? FERC may be the wild card in approving this deal.

PG&E
Transmissions deal
One thing that is still uncertain is PG&E.  Bankruptcy may still be a likely
alternative if current negotiations to buy PG&E's share of the electric
transmission grid fail to produce a deal by April 9 (when all long-term power
contracts being negotiated have a one-day "opt-out" clause they can exercise
unilaterally if a "comprehensive solution" has not been reached by the state
and its major utilities).  According to sources close to senior PG&E
officials, PG&E made it clear that any hope for a politically acceptable deal
on the transmission lines depends on the California government's willingness
to make a major financial commitment it has been completely unwilling to make
until now.

PG&E will not make a final deal to sell its grid unless Davis agrees to
relieve it of the PUC-imposed requirement to be the "electricity buyer of
last resort."  Current state regulations make the utility companies
ultimately responsible for generating or purchasing enough electricity at all
times to supply California's energy needs.  As long as the state steps in and
makes those purchases, as it has for the past three months, the utilities are
shielded from absorbing the losses generated by paying premiums for spot
market power and selling to consumers who are shielded by low rate ceilings.
But, PG&E officials are worried 1) this summer's supply and 2) Davis's
concern over how fast he is draining the state's budget surplus.  If things
get into a crunch this summer and Davis makes a new decision that the state
will pay only for the electricity it buys through long-term contracts, then
PG&E will be left holding the bag.

Thus, as part of the negotiations over buying the electricity grid, PG&E is
demanding a "comprehensive solution" that includes not being liable for cost
differentials between the spot market purchase and what consumers are allowed
to pay.  State officials are in no mood to grant that kind of "get out of
jail free" card, so the two sides remain locked in extremely tough
negotiations that are complicated by three other factors: (1) PG&E's public
behavior and welter of announcements in the past few days that seem to
encourage suppliers to force involuntary bankruptcy; (2) State legislative
demands that the price Davis negotiate for PG&E's part of the electricity
grid be no more than 2.3 times revenues from the grid; and (3) the FERC must
"positively approve" any grid purchase by the state of California.

The principal concern on the price front is that PG&E wants to sell the
electricity grid for nearly four times the estimated book value of their
transmission, while consumer groups insist that two times book value is the
politically acceptable limit.  "We see 2.3 times book value as an absolute
upper bound. There is no way PG&E will get more than that, whatever they
think," according to the leader of one main consumer groups.  "We are going
to try to force any deals down to about 2.0 in any case." Negotiators for
Davis are also trying to 'proposition-proof' any transmission deal to protect
against a later ballot proposal.  They think there are ways to do that, but
not if the price of PG&E's part of the grid triggers a ballot initiative.
Remember, if Davis's eventual solution triggers a ballot initiative, he will
be running for re-election on the same ballot as a public initiative designed
to overturn his solution.

On the Sacramento front - no one understands PG&E's motives
The one question no one in Sacramento can figure out is what kind of game
PG&E is playing.  In a three day period PG&E made a series of announcements
that left everyone scratching their heads.
? Late Thursday, PG&E officials leaked information to California papers that
they had agreed in principle to sell their part of the electricity
transmission grid to the state, which seemed like obvious good news, but then
made it clear in discussions that the price they were asking was at least 30%
above what the state was currently offering.  While a deal can still be done,
anything like the $10 billion PG&E wants would be very hard to get through
the California legislature which needs to approve any purchase.
? Late Friday, PG&E officials announced that they had secured a $1 billion
loan for the parent company (not the electricity utility) and would use the
money to pay off bondholders, other creditors and to return $161 million to
shareholders in a new dividend payout.  Not a cent of that money was
earmarked to help the struggling electricity orphan of PG&E and that left at
least one rating agency convinced that the company was more ready to send the
utility into bankruptcy than had been previously understood.
? Over the weekend, PG&E leaked a story claiming that it was willing to pay
off its energy suppliers' debt for 15 cents on the dollar right now.  For
generators who are having to make decisions each morning about whether to
start legal actions that protect their rights in any eventual bankruptcy
action or hold off on the assumption that the politics of this process will
"make them whole" in a couple of months, that kind of trial balloon is
extremely unnerving.

Thus, in a very short time period, PG&E's corporate owners showed they could
access public credit markets with relative ease and then showed that they
were unwilling to use these funds to smooth the way toward a solution to the
energy crisis.  Davis has demanded that all of the major utilities absorb at
least a part of the $13 billion debt they have accumulated since last summer
and PG&E's fund-raising will harden and deepen those demands.  As one senior
political official told our source "just when you think the corporate
leadership of that company has insulted us as completely as possible, they
come up with something even more outrageous."

PG&E's actions also complicate the broader solution Davis is trying to
construct to solve California's problems.  State Democrats doubt they will
get Republican support for a deal, which means a vote will fall short of the
two-thirds majority necessary for immediate enactment (resulting in 90 days
for the legislation to go into effect).  Additionally, in the past 48 hours,
many Sacramento sources have reported that forcing creditors to take a less
in any debt payback is gaining substantial support with the legislators and
may be crafted into any legislation to authorize Davis to purchase the
electricity grid.

Long-term Contracts - Davis didn't tell the whole truth
Yesterday, Davis announced that he had signed "long-term" power deals for
8,800 megawatts of power, out of a total 12,000 megawatts he wanted to sign
eventually. According to the press release, Davis is now 75% of the way
toward his long-term goal and has already solved the hardest part of
California's energy crisis. This means consumers would maybe pay more than
necessary five years from now, but these contracts "guaranteed" that
consumers would pay less for the next three years.  What Davis failed to
highlight was that of the 8,800 megawatt commitment, actually only 6,000
megawatts are available this summer (when demand is expected to 45,000
megawatts); and some of these "long-term contracts" are actually only good
for three months.  None of these contracts, however, keep California from
having to buy the most expensive peak demand electricity on the spot market.

Davis Agrees on New Consumer Electricity Rate Hikes for Next Year
While the media was concern with Davis's announcement of long term contracts
for California, of less concern to the media was Davis's quietly announced a
decision to let rates rise again for electricity consumers. The state will
accept the 10% emergency surcharge levied on consumers in January as a
permanent increase as well as an additional 10% increase for consumers that
will take effect early 2002 when the old 1996 rate cut legislation expires.
That would bring the average charge to about 8 cents a kilowatt hour.

FERC
The other major danger to the transmission line deal is that the Federal
Energy Regulatory Commission can block the deal simply by failing to approve
it in a positive vote. Senior California officials and legislators doubt that
FERC has jurisdiction, and believe that FERC would not dare stop a deal. But
they may be wrong. "The deal can only go through if FERC specifically signs
off on the deal. Its power over transmission deal is absolute, no matter what
anyone says," according to source close to the President. There are three
possibilities: 1) FERC could "pocket veto" it by not even putting it on
agenda for discussion; 2) the deal is put on the agenda but it gets voted
down. The Democrat on the commission, William Massey, has already said he is
opposed to it; or 3) the Commission could approve it but with condition that
Davis has to agree to bring the lines into a regional grid system.

One complicating factor in the FERC decision, however, is that its chairman
Curt Hebert, who is adamantly opposed to the transmission line sale, may not
be around long enough to have his say. "Hebert is definitely not a shoo in
for the FERC chairman position," says one Washington official. Two other
appointments to the Commission will soon be named, this official notes, and
one of them "could easily become chairman."


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From: "Hunter, Jeff" <jhunter@varco.com>
To: "Bill Strohe (E-mail)" <bstrohe@durkoppadler.com>,        "Bubba Lagasse (E-mail)" <blagasse@schillingdistributing.com>,        "Damon Stutes (E-mail)" <flutie10@aol.com>,        "Eric Greenwood (E-mail)"	 <ericgree@bellsouth.net>,        "Jeff Brevelle (E-mail)"	 <JeffBrevelle1@cs.com>,        "Mike Hayes (E-mail)"	 <mike.hayes@weatherford.com>,        "Mike Praznik (E-mail)"	 <unkapalite@aol.com>
Subject: FW: Stretching too far!
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Done.

Gregory Carraway
01/22/2001 04:24 PM
To: Errol McLaughlin/Corp/Enron@ENRON
cc: Rebecca Ford/HOU/ECT@ECT, Kim S Theriot/HOU/ECT@ECT

Subject: Gas Daily deals in dispute

The following deals are being disputed by Reliant Energy Services. TAGG is
showing these deals as Gas Daily, but the counterparty states that they
should be changed to Nymex trades. They also stated that they were told by
Mike Maggi that the deals would be changed to Nymex deals:

Q69812

Hey, man would you let me know when it is done? Thanks!!!