Julia:  To close the loop, it appears that none of the swaps were
terminated.  Sara
---------------------- Forwarded by Sara Shackleton/HOU/ECT on 04/12/2000
03:41 PM ---------------------------

Trena McFarland
04/06/2000 10:10 AM
To: Jon Chapman/LON/ECT@ECT
cc: Sara Shackleton/HOU/ECT@ECT
Subject: Re: Sutton Bridge swaps

John and Sara

In reply to your enquires:

Infinity number 10300 is a hedge that was put on with SBPL.  This is to
remain in place
Infinity number 25556 is a hedge that was put on for SBFL.  This is to remain
in place.

The other deal that you enquired about was a simple passthrough of cash.
This was a spot deal and has matured.

Trena


I still plan to be out on Friday - guess I should use my discretionary
holiday first.

I should be in NYC Wednesday  and Thursday.  I don't need you to do anything
in that regard yet.

Thanks,

Kay


Ditto.

 -----Original Message-----
From: 	Comnes, Alan
Sent:	Monday, August 27, 2001 6:58 PM
To:	Dasovich, Jeff; Etringer, Michael
Subject:	Calif Consumer Group Steps Up Opposition To SoCal Ed Bill

Calif Consumer Group Steps Up Opposition To SoCal Ed Bill
Updated: Monday, August 27, 2001 04:55 PM ET

LOS ANGELES (Dow Jones)--Three weeks before the state legislature adjourns, a California consumer group is stepping up efforts to oppose a rescue deal for Edison International's (EIX, news, msgs) insolvent utility Southern California Edison, a spokesman for The Foundation for Taxpayer and Consumer Rights said Monday.

The group has set up a war room in a hotel one block from the state's capitol, which it will use to organize citizen volunteers from around the state. The volunteers, who will wear black and yellow armbands for easy identification, will meet with lawmakers and report on legislative developments to the media and to community groups, said spokesman Doug Heller.

"We want politicians to know they are being watched and that an Edison bailout is unacceptable," Heller said.

A bill is currently being heard by an Assembly committee to rescue SoCal Ed by allowing it to issue up to $2.9 billion in bonds backed by ratepayer revenue. The utility has $3.5 billion in undercollections because it couldn't pass high wholesale power costs to customers under a rate freeze.

The foundation, which believes the bill will result in rate increases beyond the two already instituted this year, is setting up a telephone line with near-daily updates on legislative developments, Heller said.

The consumer group plans to sponsor a 2002 ballot measure to overturn an Edison bill if it passes. In the past, the group has helped overturn legislation on property taxes and insurance rates through ballot initiatives.

"We've done some test mailing on this and have had a real positive response from the public. We're ready to do a mail-based campaign if the legislature screws up," Heller said.

About 25,000 people have already signed an online "anti-bailout" petition, according to the foundation's Web site.

-By Jessica Berthold, Dow Jones Newswires; 323-658-3872; jessica.berthold@dowjones.com


I am trying to put together a reference sheet for important power trading numbers and conversions.  This will be used as part of a training course put on by Jon Koomy.  For example:
8760 hours per year.
On Peak hours are roughly 56% per year and off peak hours are roughly 44% per year.
One natural gas futures contract contains 10,000 MMBtu's

Please help me with this exercise.  Think about what number you use everyday and write them down for me by the end of Monday.

Thanks.


This topic has moved up on the radar screen over here.  In addition to the
issues about setting up the shell corporation, what are the rules for the
Enron affliliates who trade on line?  Josie Castrejana in our credit group
has talked to Tom Moran in your credit group.  EOTT is concerned about
credit issues for the shell corporation.  How do you handle that with the
other Enron affiliates?  Who would post letters of credit or guaranties?
How does the contract get from the Enron affiliate to EOTT--is the contract
assigned or do we do back to back deals?  If this is a physical
transaction, we need to figure out a way to coordinate names on the
contract, credit, invoice, ticket, etc.  Also, who would nominate the
volumes?

Needless to say, we are not finished yet.  Please let me know when you
would be available to go over these issues.  Thanks so much for your help.

Molly
----- Forwarded by Molly Sample/Houston/Eott on 07/19/00 03:38 PM -----

                    Molly Sample
                    Sent by:             To:     Mark.Taylor@Enron.com
                    Autumn               cc:     Dana
Gibbs/Houston/Eott@Eott, Charles Uus/Houston/Eott@Eott
                    Cartier              Subject:     Enron Online

                    07/17/00
                    01:32 PM

Please see the attached memo.

Thank you.

(See attached file: 0714m005.doc)

 - 0714m005.doc


was she concerned at all about Pneumonia or Meningitis?
PL


Join Cindy Olson, executive vice president of Human Resources and Community
Affairs, Tuesday, February 6 at 10:00 am Houston time.  Cindy will conduct an
open-mike discussion about Enron's latest PRC process.  Remember: If you
can't make the live event, visit the eSpeak site now and post your
question(s).

ethink.enron.com


Attached is a comment letter that you may find to be of interest on the CFTC
rulemaking.

-----Original Message-----
From: kgehman@atmarkets.org [mailto:kgehman@atmarkets.org]
Sent: Wednesday, April 11, 2001 4:14 PM
Subject: @Markets Comment Letter to the CFTC

@Markets Comment Letter to the CFTC

@Markets Association has issued a comment letter to the Commodity Futures
Trading Commission on the proposed rules implementing the Commodity Futures
Modernization Act of 2000.  Please visit the @Markets Web site
www.atmarkets.org to read the full text of the letter.

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

This e-mail is sent by a law firm and contains information
that may be privileged and confidential. If you are not the
intended recipient, please delete the e-mail and notify us
immediately.


Cuckoo Paul & Arnab Mukherjee
11/16/1999 The Economic Times Copyright (C) 1999 The Economic Times; Source:
World Reporter (TM)

MUMBAI 15 NOVEMBER

ENRON Communications (ECI), an affiliate of the $31bn energy major Enron
Corp, is preparing for a major push in the Indian communications sector.
Enron will start off by forming a joint venture with the public sector Ircon
(Indian Railway Construction Company) to enter the telecommunication
business. Enron will provide very high capacity broad-band networks as well
as services, followed by bandwidth trading in India, said Enron South Asia
CEO and managing director Sanjay Bhatnagar.

Enrons joint venture with Ircon is expected to help the former use the Indian
Railways reach for laying the fibre-optic networks. Mr Bhatnagar did not
confirm the JV proposal nor reveal precise details but The Economic Times has
learnt that the Ircon board has already cleared the proposal. ECI, through a
separate subsidiary, is likely to spearhead Enrons telecom businesses in
India.

Speaking about ECIs plans, Mr Bhatnagar said, This will be a new business for
us in India, though we have been doing it in the US for over two years.

Enron already has 32,000 kilometres of fibre-optic broadband network in the
US connecting 18 cities. The next-generation broadband network will
incorporate both terrestrial components like fibre-optic cable and space
components like satellites. While the network and the services will be rolled
out nationally within six to eight months, Enron, the worlds largest gas and
electricity trader, will get into bandwidth trading activity in India only
about two years from now, Mr Bhatnagar said.

Broad-bandwidth networks will be the infrastructure of the future, he said,
adding, Enron will use its expertise in energy trading for bandwidth trading.

The networks and services will allow applications like video-conferencing and
video-delivery. We will target multiple customers, including ISPs and
corporates with requirement for high bandwidth, Mr Bhatnagar added.

Bandwidth trading will allow under-utilised networks to be used to full
capacity, as excess capacity will be sold when not needed by particular
customers. These initiatives will also allow hosting of burgeoning Indian
content within India, thus facilitating the domestic Internet market, as
Internet usage becomes easier and more cost-effective, he said.

Globally, there is great synergy between pipelines and fibre optic networks
and it makes perfect sense for Enron to tap the communications potential,
said an energy analyst. The pipelines are used as conduits for fibre optics
which can carry voice, data or video information, he added. Even in India,
some utilities like the MSEB (Maharashtra State Electricity Board) and the
Indian Railways are already using this routing. Electricity and gas
distribution companies have a natural monopoly in the form of their pipeline
and cabling which has the benefit of a wide reach that can be used by others.

Ircon has been known for innovation in its business and has expanded its
international operations in the past few years. The company recently got a Rs
525-crore order from Malaysian Railways, where the company which could not
pay in cash paid Ircon in kind. Malaysian Railway paid MMTC in the form of
palm oil and MMTC paid IRCON cash in India. Ircon also paid its highest ever
dividend of 225 per cent this year to the government. The company made a
profit of Rs 56.2 crore .


Notice Phy & Fin Index tabs have been added...


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 04/24/2000
01:10 PM ---------------------------

"Martin Jermakyan" <martin@electrapartners.com> on 04/24/2000 09:59:38 AM
Please respond to "Martin Jermakyan" <martin@electrapartners.com>
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: My resume

Dear Vince,

Attached please find an updated resume of mine.

I have been continuing my research in the area of pricing, risk management
and asset management of power industry.  It seems to me that the framework I
have been working on does allow addressing some fundamental issues and
allows describing the salient features of power markets.  I feel a brief
info may inform you what have I been up to.

Conceptually speaking, my approach relies on the understudying that the
absence of cash and carry implies non-hedgibility of the most fundamental
building blocks of power market - forward contracts of hourly duration.
This clearly demands a risk premium embedded in power prices.  I have been
able to develop a machinery to capture this risk premium, and calculate its
impact on pricing of other products.  In particular, the method allows
consistent generation of hourly forward curve (per each geographic region),
hence generation of forward curves of longer duration.  It provides us not
only with forward curves, but also their physical (not risk-neutral)
distribution.  It also allows one to analyze the sensitivity of the forward
curve with respect to the volumetric risk.  As a fundamental  input ,  I
consider the ratio of properly compounded generation output (load) and the
corresponding maximum available generation supply.  The first one is well
observable and forecastable due to its stationarity.  The second one  is
defined by the first one and the generation and transmission profile of the
region.  Much of the required information is in the public domain.

The market price of risk incorporated in the model depends on this ratio and
the calendar time.  This time dependence of the market price of risk allows
capturing of the dynamics of the returns per unit risk over time, and its
dependence on the ratio mentioned above reflects the intuition and the
reality that closer the demand to the maximum available supply higher
compensation do the investors expect.

I have also realized that the transmission related factors may be
incorporated into this framework in a very consistent and robust manner.

This approach also allows quantification of the margins as a stochastic
process dependent on the volumetric factors, among other things.  It allows
posing and solving the problem of maximization of the margins while keeping
their variance under control in a very elegant and robust way.

I have developed the first version of mathematical tools and prototype
software reflecting all these issues.  My inability to complete this program
has been resulted from the severe instability, lack of access and the cash
flow problems I have experienced in the last few years.  I have also
understood that programs of this magnitude cannot be finished from the
"grandpa's garage."

Nevertheless, I think I have developed a very systematic and robust
understanding and methodology, and at least, I have convinced myself that
this approach leads to a comprehensive system.

With all this said, I don't want to make an impression of a stiff person,
who has his agenda and under any circumstances is willing to push it
forward.  I have always been very flexible, and in my consulting experience,
I have always accommodated the needs and wishes on my clients.  In my short
period of employment with Altra I have been very ethical, I have played by
the rules, I have done whatever I have been asked to do, and have been a
team player.  The reasons they have asked me to resign have nothing to do
with me personally.  They have been respectful to me, they have valued me as
capable person, but have found that given the direction of the company
(which has become self-evident with the consequent developments), "further
Altra goes, further I will be frustrated with where they go."  It was almost
formulated that it is better for me to separate from Altra as soon as I can.
As an evidence of appreciation, they have continued paying me as of today,
something that they have not done for some others, but it is coming to its
end, too.  I am bringing this up just to reiterate that my separation from
Altra has had nothing to do with me or my entrepreneurial working style vs.
corporate style, etc.  I have no doubts that I can function equally well in
either environment.

I wish that your presentation goes well with your new superior, and that my
joining Enron becomes a possibility.

Regards,
Martin

 - martin.doc


All,

Please note that IQ reports will be decommissioned tonight.  Please ensure that you can access the web reports at http://ermreports.corp.enron.com

If you have any problems or queries, please contact Kirti Patel at x33587.

Thanks & regards,

Karima Husain
Project Manager, TAGG/ERMS
(713) 345-7252

 -----Original Message-----
From: 	Husain, Karima
Sent:	Thursday, July 05, 2001 2:58 PM
To:	Chew, Carol; Gillis, Brian; Nicoll, Kenny; Reeves, Kathy; Tan, Gladys; Taylor, Dimitri; Wlodarski, Patryk; Abel, Chris; Araujo, Thomas; Baumbach, David; Brackett, Debbie R.; Brown, Matt A.; Dang, Thu; Gillis, Brian; Giron, Darron C.; Glover, Sheila; Gossett, Jeffrey C.; Hanson, Kristen J.; Harrell, Willie; Hernandez, Nancy; Ihrig, Chad; Jacobsen, John; Keiser, Kam; Lafave, Jill; Lim, Francis S.; Lombardi, Kelly; Love, Phillip M.; Mao, Shari; McLaughlin Jr., Errol; Prejean, Frank; Reeves, Kathy; Scales, Patrick; Sorenson, Jefferson D.; Sweeney, Kevin; Swinney, John; Vasan, Sue; Venturatos, Steve; Wei, Zhiyong; Wong, Jeremy
Cc:	Patel, Kirti
Subject:	Decommissioning of IQ reports

All,

This is a reminder that IQ reports will be decommissioned on Monday, July 9, 2001.  Please ensure that you have access to the web reports at http://ermreports.corp.enron.com.

If you have any problems or concerns, please contact Kirti Patel at x33587.

Thanks & regards,

Karima Husain
Project Manager, TAGG/ERMS
(713) 345-7252


Dear Mr. Lay:

On behalf of The Economist Group, I have the pleasure of inviting you to join
a select group of your peers at the second in our series of US E-Business
Summits, "Strategic business transformation for chief executives in the
digital economy". The E-Business Summit will take place at the JW Marriott in
Atlanta on October 2nd-3rd and subsequently at the Ritz-Carlton Lenox in
Chicago on October 18th-19th. To learn more about this event visit us at
www.economistconferences.com.  Click on the Americas portion of the map to
find this event.

Your name has been included on a short list of the nation,s most powerful
corporate decision-makers invited to attend the Summit as our guest. If you
wish to accept this invitation, please RSVP directly to Melissa Thoms on
212.554.0605 or register online at www.economistconferences.com.  Click on
the Americas section of the map and choose E-business Atlanta or Chicago.
You can simply add $0 in the registration fee.

The Economist Group founded the US e-business series in March 2000 with
summits in New York and California. Speakers and delegates at those events
included the chief executives of Cisco Systems, Nike, Palm Inc, DoubleClick,
Nordstrom.com, Fair Isaac, International Creative Management, Schlumberger,
Block Drug Company and DLJdirect.

The purpose of the e-business series is to address the concerns of CEOs at
corporations founded on old-economy principles as they struggle to respond to
the imperatives created by web-enabled technology. Corporate leaders are
invited to learn from their peers at blue-chip companies who are now setting
the pace of change as they rethink vital business functions from supply chain
to customer service.

Bill Emmott, Editor of The Economist, will serve as chairman of the Atlanta
Summit, and John Peet, Business Affairs Editor of The Economist, will chair
the Chicago Summit.

Other programme highlights can be viewed at www.economistconferences.com. or
you can view the highlights below:

* A feature presentation from the DuPont executive leading the effort to
align management and IT strategies
* The e-business thought leader who turned Delta Air Lines around on the
company,s online relationships
* Unilever,s brand guru,s research and findings on Internet branding
* Ford,s head of e-business on efficiency, productivity and supply chain
* FleetBoston and Merrill Lynch on creating a new business model for
financial services
* The venture capitalists behind Walmart.com and McDonald,s E-Mac on the
relationship between vc and bricks and mortar
* Enron Net Works on how online marketplaces will transform the company into
a new-economy player
* Sears on multichannel management and the integration of legacy and online
businesses
* Case studies from senior strategists at American Honda Motor, Anheuser
Busch and UPS

Please review the enclosed programme for more details. I look forward to
greeting you in Atlanta or Chicago.

Best regards,
Lisa Weiner
General Manager


Dear Energy Insight Subscribers. As you may have noticed, there were a few first-day glitches with the e-mail we sent out earlier.
This one should be fine, but please let us know if you experience any more problems with the site. If you cannot read the HTML
version of this e-mail, please click on this link and change your user preferences to reflect plain text e-mail rather than HTML e-mail. http://public.resdata.com/essentials/user_pref.asp?module=EN. Thank you for your patience. If you have any questions,
feel free to contact us at 1-800-424-2908 (1-720-548-5700 if your are outside the U.S.) or e-mail us at custserv@ftenergy.com.

[IMAGE]

   [IMAGE] [IMAGE]  [IMAGE]  [IMAGE]  [IMAGE] [IMAGE]  [IMAGE]  [IMAGE]  [IMAGE]       [IMAGE]   [IMAGE]   [IMAGE]   [IMAGE]     	 [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE]          Updated: April 30, 2001     [IMAGE]      [IMAGE]   [IMAGE]    [IMAGE] [IMAGE] [IMAGE]           Beyond California A group of U.S. energy leaders met at Oklahoma State University (OSU) last week to discuss state and national policy. Executives for Williams Cos., Dynegy Inc. and Reliant Energy participated, as well as members of academia and regulators from Illinois and Oklahoma. [IMAGE] [IMAGE]         [IMAGE]     [IMAGE] [IMAGE]       [IMAGE]      [IMAGE] [IMAGE]   [IMAGE]           [IMAGE]   [IMAGE]            [IMAGE]   [IMAGE]            [IMAGE]   [IMAGE]            [IMAGE]   [IMAGE]            [IMAGE]   [IMAGE]            [IMAGE]   [IMAGE]            [IMAGE]   [IMAGE]            [IMAGE]             [IMAGE] [IMAGE]   [IMAGE]            [IMAGE]   [IMAGE]           [IMAGE] [IMAGE]             [IMAGE] [IMAGE]   [IMAGE]          [IMAGE] [IMAGE]     [IMAGE]        Sierra Pacific faces California-type woes Company sitting on volatile buy-sell imbalance.  Deals to sell plants, buy Portland General flickering.  Politics complicating problems.  [IMAGE] [IMAGE]        [IMAGE]   [IMAGE]   [IMAGE] [IMAGE]             [IMAGE] [IMAGE]             [IMAGE] [IMAGE]     [IMAGE]       Resurrection of residential energy-efficiency programs Real time pricing may shave peak loads.  Rate hikes, rebates, mandates viewed. [IMAGE] [IMAGE]        [IMAGE]  [IMAGE]    [IMAGE] [IMAGE]             [IMAGE] [IMAGE]             [IMAGE] [IMAGE]     [IMAGE]       LNG: birth of a commodity Influence of California debacle being felt.  Repeal proponents tout potential investment.  Small players could aggregate. [IMAGE] [IMAGE]        [IMAGE]   [IMAGE]   [IMAGE] [IMAGE]             [IMAGE] [IMAGE]             [IMAGE]  [IMAGE]     First 8 stories: Sierra Pacific, Enron and Portland General buyout talks go to full story...   Bush administration may allow QFs to break contracts go to full story...   Davis picks up key support for wires buy go to full story...   FERC's temporary cap flawed, some experts believe go to full story...   President Bush remains opposed to price caps go to full story...   Reliant increases price of IPO go to full story...    Montana looking at locomotive power go to full story...   Berlin senate backs Mirant-HEW partnership go to full story...   Page 1                [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE]         [IMAGE] [IMAGE]  ? Copyright ? 2001 - FT Energy, All Rights Reserved. "FT" and "Financial Times" are trademarks of The Financial Times Ltd.    	     [IMAGE] [IMAGE]  [IMAGE]  [IMAGE]  [IMAGE]   [IMAGE]      [IMAGE]    [IMAGE]   Advertise on Energy Insight    [IMAGE]

 - Market Brief.doc


The report named: Violation/Notification Memo <http://erv.corp.enron.com/linkFromExcel.asp?report_cd=60&report_name=Violation/Notification+Memo&category_cd=2&category_name=ENRON%20CONSOLIDATED&toc_hide=1&sTV1=2&TV1Exp=Y&current_efct_date=11/07/2001>, published as of 11/07/2001 is now available for viewing on the website.

Publisher's Notes:

FINAL


Ramesh,

Could you please resend me the email with all your groups pager numbers.

Thanks,
Robin


Hi fellow Haas students, faculty, staff:

I thought I might throw in an invitation for a short-but-sweet dive trip
down south over memorial day if you haven't any plans yet.  Through
Redwoods@Haas, this May dive trip will be a 5-day, 4-night all inclusive
trip open to divers and non-divers.  The objective is simply to "decompress"
after the semester: you can dive, hike/explore, lay out, read, or simply do
nothing for a long weekend.

More details to follow - and can be accessed through the Redwoods@Haas
alias, so sign up to the alias if you are interested.-jim

Haas Diving Trip to Cozumel!

May 25-30, 2001

Trip includes:

1)  5 days, 4 nights accommodations, double occupancy
2)  Roundtrip airfare from LAX
3)  R/T transfers airport/hotel in Cozumel
4)  4 days of 2-tank boat dives
5)  Unlimited tanks for shore diving on boat diving days
6)  Free use of full range of Mares Equipment
7)  Free single tank night boat dive (lights not included)
8)  Free u/w video of you diving in Cozumel
9)  Includes use of Tanks, weights; also includes taxes, service charges

Total cost:  $990.00 per person ($200 less if not diving)

Hotel:  Plaza Las Glorias Hotel - right on the water, has about the largest
rooms in any hotel in Cozumel, walking distance of San Miguel, the only town
in Cozumel.  The diving outfit will pick up and drop off the divers from the
Hotel on the dive days. (check out website to get a good idea on what the
hotel looks like!
http://www.cozumel.travelnotes.cc/hotels/plazalasglorias.html

Other info: 1)  For days that you don't want to dive, there are
opportunities to go visit the Mayan ruins, museums, beaches, visits
to the mainland by ferry.  I will get more information as questions arise.

2)  Up to 10 divers per boat, but 8 is ideal.

3)  Budget for food will be around $25 a day

4)  Free equipment includes Masks, Snorkels, BCDs, Fins,
Wetsuits. (but I recommend bringing your own)

5)  2-tank boat dives depart hotel around 0800 and return
1300.  Surface interval will be lunch on a beach somewhere

6)  Depart LAX on May 25 at 7:00 am, change planes in Mexico
city and
arrive Cozumel at 3:20 pm. Depart Cozumel on May 30 at 2:35
pm, change
planes in Cancun and arrive LAX at 9:20 pm

7)  We could probably set up a diving certification for
those interested in getting certified - you'll take lessons here,
and finish off your certification dives in Cozumel!

What to do:

Give a non-refundable deposit of $150.00 by April 10, 2001 to hold your
place.  Payment may be made by Credit Card directly to the travel company I
am working with.  Contact Jim Abilla @ abilla@haas.berkeley.edu for details.

Hope you can come! - jim


Everyone,

You probably have already heard on the news that there is a new Computer Virus out on the internet that is causing Corporations to experience numerous problems.  We have an automated process to update our workstations with the latest virus protection updates.   However, there may be some machines that didn't get the update.  In order to prevent this virus from infecting your machine, please assist by doing one of the following tasks.

1.  Logout of the network and log back in or
2.  Click on START>PROGRAMS>ACCESSORIES>Norton AntiVirus Corporate Edition and then click the Live Update button.  This will pop up a screen where you will have to click the "Next" button and then a "Finish" button.

The proper version of the update pattern you need is:   (9/18/2001, version 30918v)

If you have questions or concerns, please direct them to your Resolution Center.

Enron Global Technology


calendar and meeting file
----- Forwarded by Steven J Kean/NA/Enron on 02/07/2001 07:49 AM -----

	Ricardo Charvel
	02/05/2001 04:16 PM

		 To: Steven J Kean/NA/Enron@Enron
		 cc:
		 Subject: Mexican Energy Secretary Marten's meeting with Dr. Lay

----- Forwarded by Ricardo Charvel/NA/Enron on 02/05/2001 04:16 PM -----

	Ricardo Charvel
	02/05/2001 04:15 PM

		 To: richard shapiro
		 cc: Steve Kean
		 Subject: Mexican Energy Secretary Marten's meeting with Dr. Lay

Rick,

As you know, last week I had a meeting with Fernando Alonso who is the head
of Investment Promotion at the Mexican Department of Energy.  We discussed
the gas price policy, electric deregulation and the role that Enron has been
playing and can play in all these matters.

I pointed to him that Presidents Bush and Fox were geting together on
February 16th and that President Fox has been declaring to the media that he
will talk about a common energy policy with President Bush.

We agreed that it would be useful for Secretary Martens to Meet with Dr. Lay
before the Presidents meet.  Fernando Alonso admitted to me today that
Secretary Martens wanted to hear Mr. Lays opinion on this subject and perhaps
recieve some advice with respect to talking points for President Fox with
President Bush regarding energy policy.

Secretary  Marten's  team(and now the Secretary himself) view Mr. Lay as an
ideal communication link between the Mexican and the U.S. Governments for
energy policy.  This is the reason why the Secretary wants to meet with Mr.
Lay before the 16th.  Originally they had agreed on meeting on Feb. 12th at
9:00 a.m. Nevertheless, President Fox has asked that Secretary Martens to
meet him in Mexico City on Monday the 12th which is why I got a call from
Fernando Alonso asking if Mr. Lay could see Secretary Martens on Sunday the
11th between 3:00 p.m. and 6:30 p.m.

Secretary Martens has to be at a CERA dinner on Sunday at 7:00 p.m.

Fernando Alonso, Dionisio Perez-Jacome, Undersecretary Niceforo Guerrero and
myself will be meeting tomorrow at 10:00 a.m. to talk about electric
deregulation.  They are expecting an answer from me by then.

Dionisio Perez-Jacome president of the CRE (FERC equivalent) is going to be
in Houston on Monday the 12th.  I would like you and Steve Kean to meet with
him if you are going to be in town.  I would also like to organize a tour for
him that day.  We'll talk about this tomorrow night when I see you.

Thanks for your support.

Ricardo


---------------------- Forwarded by Kevin M Presto/HOU/ECT on 05/17/2001 04:33 PM ---------------------------
From:	Kim Melodick/ENRON@enronXgate on 05/17/2001 04:19 PM
To:	Scott Neal/HOU/ECT@ECT, Frank W Vickers/NA/Enron@Enron, Fred Lagrasta/ENRON@enronXgate, Craig Breslau/ENRON@enronXgate, Brian Redmond/ENRON@enronXgate, Jean Mrha/ENRON@enronXgate, Laura Luce/Corp/Enron@Enron, Julie A Gomez/ENRON@enronXgate, Craig A Fox/ENRON@enronXgate, C John Thompson/ENRON@enronXgate, Scott Josey/ENRON@enronXgate, Ed McMichael/HOU/ECT@ECT, Kevin M Presto/HOU/ECT@ECT, Edward D Baughman/ENRON@enronXgate, Lloyd Will/HOU/ECT@ECT, Rogers Herndon/HOU/ECT@ect, Mark Dana Davis/HOU/ECT@ECT, Fletcher J Sturm/HOU/ECT@ECT, Doug Gilbert-Smith/Corp/Enron@ENRON, Corry Bentley/HOU/ECT@ECT, Ben Jacoby/HOU/ECT@ECT, Berney C Aucoin/HOU/ECT@ECT, W David Duran/ENRON@enronXgate
cc:	Jeanie Slone/ENRON@enronXgate, John J Lavorato/ENRON@enronXgate, Louise Kitchen/HOU/ECT@ECT
Subject:	Technical and Commercial Support Performance Review Meeting Date

Please Mark your calendar.....

The ENA Gas and Power Technical and Commercial Support Performance Review Meeting will be tentatively held on June 21, 2001.  Details to follow.


First, congratulations to all five of you and the others on your staffs who
were involved for working together to get the excess line pack deal done
today.  As I understand it, TK was able to sell 10,000 MMBtu at the Cal
Border for something like $15 thanks to your efforts.  This thing went from
Dave and Kent's idea to you guys' execution in about two days, even with a
(slight) delay due to my panic attack on whether we can make downstream
sales.   Great job!   Second, I think TK, Kevin, Maria and Glen and I have
come up with a workable set of guidelines on when similar deals can be done
in the future.  The key, as I expressed in the attached email, is that the
sales be driven by a legitimate operational basis.  If Gas Control verifies
that we have excess line pack at a location and that making the sale helps
get line pack to optimal levels, such sales are appropriate.  Gas Control
should also verify that the operational basis for the sale can be documented
if the need ever arises.  Today's deal is a great example of that as we
actually communicated to outside parties that we anticipated some pressure
management issues.  If there are ever any questions about when such deals are
appropriate, or about how to document the operational basis, please give me,
Susan, or Maria a call.  Again, great job!  DF

	From:  Drew Fossum                           11/27/2000 06:01 PM

To: Steven Harris/ET&S/Enron@Enron, Dave Neubauer/ET&S/Enron@ENRON, Kent
Miller/ET&S/Enron@ENRON, Mary Kay Miller/ET&S/Enron@ENRON
cc: Susan Scott/ET&S/Enron@ENRON

Subject: TW Fuel

This morning I raised a concern regarding TW's sale of excess fuel at
downstream points.  Here's the problem:  the tariff requires shippers to
tender fuel to us at their receipt points.  With rare exceptions, those
receipt points are not at the Cal. border.  Order 636 mandates that pipelines
unbundle transportation from storage.  It also requires that pipelines that
make gas sales do so at the furthest upstream point on their pipeline.  That
latter requirement means that if a pipe buys gas at point "x", it should
resell the gas at point "x" and not haul the gas to point "y" and then sell
it there as a delivered (i.e., bundled) product.  My concern this morning was
that our receipt of fuel gas in the San Juan or Permian and shipment of that
gas to the Cal. border for sale arguably violates the unbundling requirement
(because the Cal. border sale is a bundled combination of the sale and the
transportation of the gas to the downstream location) or the "furthest
upstream point" requirement or both.  Susan and my recollection was that when
ECS wanted to receive the Gallup fuel deliveries at  a point other than
Permian pool, we made them sign a transport contract to move the gas to where
they wanted it.  I haven't confirmed that recollection but I am recalling
that we told Courtney that we couldn't just move our fuel gas around
whereever we wanted it--we needed someone to pay us to transport it.

Irrespective of what we did with ECS, I think the following is the correct
way to look at this situation:  We receive fuel at the shippers' receipt
points.  Once we receive it, however, it is no longer "fuel."  It becomes
line pack until it is burned.   Line pack moves around based on a lot of
reasons, including shipper imbalances, etc.  It also, obviously, has to move
to the compressors where it is burned as fuel.   It is our job to  manage
line pack, and that means we buy line pack at locations where we are short,
and sell it at locations where we are long.  If we end up long at the Cal.
border from time to time, we should sell excess line pack to get line pack
back to optimal levels.  I wouldn't want to get into a pattern where we are
consistently buying line pack in the San Juan and Permian and selling line
pack at the Cal. border, but  thats not what we are talking about here.  I
can't think of anything in the tariff or otherwise that is inconsistent with
this interpretation of our authority as operator of the pipeline.  MKM--OK
with you?  DF


Further to concerns raised by Jim Fallon, we have acquired a list of
counterparties who are licensed to trade power in the U.S. and will be
restricting EnronOnline U.S. Power trading access to only those companies
which hold a license.

If anyone has any objections to this, please let me know before we accomplish
the update later today.

Thanks,

Dave


request_number:  DS-GE:001-003
firstname:  Darcy
lastname:  Norville
e-mail:  darcy@tonkon.com
exhibit_wp-02-e-:  JCG-01 and -02
page_numbers:  not specified
request_text:  Request DS-GE:001

Please disclose and/or produce copies of any and all communications, from
October 16, 2001 to the present, between any BPA representative and any
representative of any other party, concerning any of the following subjects:

a. The general structure of the Cost Recovery Adjustment Clauses (CRACs)
described in the testimony of the Joint Customers;

b. Any differences between the form of the CRACs described in the testimony
of the Joint Customers and the CRACs contained in BPA,s Amended Proposal, or
those contained in BPA,s Supplemental Proposal;

c. The detailed mechanics of implementing the CRACs described in the
testimony of the Joint Customers;

d. Revenue effects of the CRACs described in the testimony of the Joint
Customers, any modifications; or

e. Any aspect of the Partial Stipulation and Settlement Agreement and the
Parties, Proposal attached thereto.

For purposes of this Request, &disclose and/or produce8 has the meanings
described below.  With respect to oral communications, &disclose and/or
produce8 means to describe the time, date, approximate duration, and
substantive content of the communication; the identity and organizational
affiliation of the communicating individuals; whether the communication
occurred in person or by telephone; the location of the communication if in
person; the identity of any witnesses to the communications, including all
individuals in the room if the communication occurred by speakerphone; and
whether the communication was made in the presence of or after coordination
with BPA counsel (if so, identify such counsel).  For purposes of this
Request, you need not &disclose and/or produce8 oral communications that
occurred during meetings noticed in compliance with Rate Case Rule 1010.7(d).

With respect to written communications, the Request includes communications
in any recorded form, whether on paper, electronic (including, without
limitation, e-mails), or whatever form.  For such communications, &disclose
and/or produce8 means to provide copies of all non-identical versions of any
written communications and to describe with particularity the location where
such communications were found and/or stored, including the identity of the
individual with possession or control of the written communications; to
describe with particularity the circumstances under which they were generated
or referred to; and to fully &disclose and/or produce8 any oral
communications made in connection with the written communications consistent
with the preceding paragraph.  For purposes of this Request, you need not
produce papers served on all parties to the rate case and made part of the
official file in the rate case.

Request No.: DS-GE:002

Request: Exhibit: Direct Testimony of the Joint Customer Group

Please disclose and/or produce any and all communications from October 16,
2001 to the present, between the BPA representatives listed below and any
representative of any other party concerning BPA,s rates to be in effect for
Fiscal Years 2002-2006, the interactions of such rates and customer
contracts, or procedural aspects of these rate proceedings.

Bob Proctor
Tim McCoy
Byrne Lovell
Byron Keep
Valerie Lefler
Jon Wright
Peter Berger

For purposes of this Request, &disclose and/or produce8 has the meanings
described below.  With respect to oral communications, &disclose and/or
produce8 means to describe the time, date, approximate duration, and
substantive content of the communication; the identity and organizational
affiliation of the communicating individuals; whether the communication
occurred in person or by telephone; the location of the communication if in
person; the identity of any witnesses to the communications, including all
individuals in the room if the communication occurred by speakerphone; and
whether the communication was made in the presence of or after coordination
with BPA counsel (if so, identify such counsel).  For purposes of this
Request, you need not &disclose and/or produce8 oral communications that
occurred during meetings noticed in compliance with Rate Case Rule 1010.7(d).

With respect to written communications, the Request includes communications
in any recorded form, whether on paper, electronic (including, without
limitation, e-mails), or whatever form.  For such communications, &disclose
and/or produce8 means to provide copies of all non-identical versions of any
written communications and to describe with particularity the location where
such communications were found and/or stored, including the identity of the
individual with possession or control of the written communications; to
describe with particularity the circumstances under which they were generated
or referred to; and to fully &disclose and/or produce8 any oral
communications made in connection with the written communications consistent
with the preceding paragraph.  For purposes of this Request, you need not
produce papers served on all parties to the rate case and made part of the
official file in the rate case.

Request No.: DS-GE:003

Request: Exhibit: Direct Testimony of the Joint Customer Group

Please disclose and/or produce any and all communications from October 16,
2001 to the present, between any of the party representatives listed below
and any representative of BPA concerning rates to be in effect for BPA,s
Fiscal Years 2002-2006, the interactions of such rates and customer
contracts, or procedural aspects of rate these proceedings.

Terry Mundorf (WPAG)
Lon Peters (PGP)
Linc Wolverton (ICNU)
Scott Brattebo (PacifiCorp)
Kevin Clark (Seattle City Light)
David Hoff (PSE)
Geoff Carr (Northwest Requirements Utilities)
Dennis Parrish  (Market Access Coalition Group)
Pam Jacklin (PacifiCorp)
Peter Richardson (PPC)
Kyle Sciuchetti (PPC)
Ray Kindley (PGP)
Jay Waldron (PGP)
Doug Brawley (PNGC)
Eric Johnson (PNGC)
Darcy Norville (PGE)
Lynn Williams (PGE)
Steve Weiss (Northwest Energy Coalition)
Mark Hellman (OPUC)

For purposes of this Request, &disclose and/or produce8 has the meanings
described below.  With respect to oral communications, &disclose and/or
produce8 means to describe the time, date, approximate duration, and
substantive content of the communication; the identity and organizational
affiliation of the communicating individuals; whether the communication
occurred in person or by telephone; the location of the communication if in
person; the identity of any witnesses to the communications, including all
individuals in the room if the communication occurred by speakerphone; and
whether the communication was made in the presence of or after coordination
with BPA counsel (if so, identify such counsel).  For purposes of this
Request, you need not &disclose and/or produce8 oral communications that
occurred during meetings noticed in compliance with Rate Case Rule 1010.7(d).

With respect to written communications, the Request includes communications
in any recorded form, whether on paper, electronic (including, without
limitation, e-mails), or whatever form.  For such communications, &disclose
and/or produce8 means to provide copies of all non-identical versions of any
written communications and to describe with particularity the location where
such communications were found and/or stored, including the identity of the
individual with possession or control of the written communications; to
describe with particularity the circumstances under which they were generated
or referred to; and to fully &disclose and/or produce8 any oral
communications made in connection with the written communications consistent
with the preceding paragraph.  For purposes of this Request, you need not
produce papers served on all parties to the rate case and made part of the
official file in the rate case.

response_text:  Response DS-GE:001

Portland General Electric (PGE) objects to this Data Request on the grounds
that it (i) seeks information that is not relevant; (ii) seeks information
that is privileged; and (iii) seeks information that is unduly burdensome to
produce.  Rules of Procedure Governing Rate Hearings, Section 1010.8(b).  PGE
further objects to this Data Request on the grounds that it is in improper
form as it does not cite to specific testimony or indicate the specific use
to which the information sought will be put.  Special Rules of Practice,
WP-02-01.  Further, the Data Request PGE received in hard copy of March 9,
2001 covered communications from October 16, 2001 to the present, of which
there were none.  PGE hereby responds to the corrected Data Requests received
March 14, 2001 covering communications from October 16, 2000 to the present.
Without waiving the foregoing objections, PGE responds as follows:

 I reviewed my email archive (which is automatically emptied after two
weeks), correspondence file and meeting notes and asked Lyn Williams to do
the same.  I also questioned Ms. Williams about her recollections of any
communications described in this Data Request.  Based on these inquiries and
recollections, PGE reports the following communications:

1. On or about January 22, 2001, following a noticed settlement meeting, Pam
Jacklin, Terry Mundorf and another party representative (I do not recall who)
met with Alan Burns and Peter Burger in one of their offices to discuss
whether BPA intended to file a supplemental proposal in this case.

2. During a Joint Customer Group testimony drafting session during the week
of March 5, 2001 Lon Peters placed a telephone call to Bob Procter seeking
clarification of BPA's intent with respect to treatment of transmission
losses in the LB CRAC GRSPs.

3. Lyn Williams and/or Darcy Norville received the emails described below,
copies of which are attached (emails that were sent or copied to the Service
List are not included below or attached):

a. From Dave Piper to Lyn Williams et al., dated 1/26/01,
Subject: Re: Urgent: Potential Substantial Rate Increase;
b. From Kyle Sciuchetti to A. W. Turner et al., dated 2/16/01, Subject:
Settlement Signers.

4. On October 16, 2000 representatives of six Northwest Investor-owned
Utilities sent a letter with comments on BPA's Proposed Amended FY 2002-2006
Power Rate Case to Syd Berwager, a copy of which is attached.

5. On October 16, 2000 representatives of five Northwest Investor-owned
Utilities sent a letter with supplemental comments on the appropriate scope
of the reopened WP-02 proceeding to Syd Berwager, a copy of which is attached.

Response DS-GE:002

Portland General Electric (PGE) objects to this Data Request on the grounds
that it (i) seeks information that is not relevant; (ii) seeks information
that is privileged; and (iii) seeks information that is unduly burdensome to
produce.  Rules of Procedure Governing Rate Hearings, Section 1010.8(b).  PGE
further objects to this Data Request on the grounds that it is in improper
form as it does not cite to specific testimony or indicate the specific use
to which the information sought will be put.  Special Rules of Practice,
WP-02-01.  Further, the Data Request PGE received in hard copy of March 9,
2001 covered communications from October 16, 2001 to the present, of which
there were none.  PGE hereby responds to the corrected Data Requests received
March 14, 2001 covering communications from October 16, 2000 to the present.
Without waiving the foregoing objections, PGE responds as follows:

I am aware of no communications responsive to this Data Request other than
those disclosed in response to DS-GE:001.

Response DS-GE:003:

Portland General Electric (PGE) objects to this Data Request on the grounds
that it (i) seeks information that is not relevant; (ii) seeks information
that is privileged; and (iii) seeks information that is unduly burdensome to
produce.  Rules of Procedure Governing Rate Hearings, Section 1010.8(b).  PGE
further objects to this Data Request on the grounds that it is in improper
form as it does not cite to specific testimony or indicate the specific use
to which the information sought will be put.  Special Rules of Practice,
WP-02-01.  Further, the Data Request PGE received in hard copy of March 9,
2001 covered communications from October 16, 2001 to the present, of which
there were none.  PGE hereby responds to the corrected Data Requests received
March 14, 2001 covering communications from October 16, 2000 to the present.
Without waiving the foregoing objections, PGE responds as follows:

I am aware of no communications responsive to this Data Request other than
those disclosed in response to DS-GE:001.

The following information is from the web server:
1.  Logon: IUSR_GRANITE
2.  Remote Host:  206.29.168.129
3.  Remote IP Address:  206.29.168.129
4.  Form URL:
http://www.bpa.gov/power/secure/psp/ratecase/discovery/wp_02_response.html
5.  Browser Client:  Mozilla/4.0 (compatible; MSIE 5.0; Windows NT; DigExt)


Dorothy,

No problem. Please, CC-mail  me
Tom's number. One of the members of the group has a PhD in
computer science and he will join me for the call.

Vince

From: Dorothy Dalton@ENRON COMMUNICATIONS on 05/01/2001 08:53 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: message from Ken Rice

Vince:

Ken Rice received a call through a friend's referral from Dr. Tom Limperis (a
professor at the University of Michigan).  Dr. Limperis has developed a
statistical database management system he would like to show Enron.  Ken
would like you to return this call on his behalf.  He feels that you are
probably the only person who will understand and be able to determine if
Enron should have an interest.

Do you mind returning this call?  Please let me know.

Thanks!

Dorothy Dalton
Office of the Chairman
Enron Broadband Services
1400 Smith Street, EB4505
Houston, TX  77002
713-853-6724 - direct
713-853-9469 - fax


Start Date: 12/12/01; HourAhead hour: 11;  HourAhead schedule download failed. Manual intervention required.


Lee johnson just called to see when he can sign the agreement.  I told him I
would ask you guys.

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 04/27/2001 03:13
PM ---------------------------

lee.johnson@ps.ge.com on 04/26/2001 04:09:13 PM
To: kay.mann@enron.com, dale.rasmussen@enron.com
cc: kent.shoemaker@ae.ge.com, bill.williams@enron.com

Subject: FW: Assignment and Assumption Agreement re: E-Next B/O Contract w /
GE for MCS as EPC for LVCII.

Kay/Bill,

Bill says he agrees and accepts our comments to the A&A.

One change required to the Rev 5 document.  In Exhibit B, Add item "27)One
additional Human Machine Interface (HMI) per Unit (desktop PC type)"

Include these changes and we can get this done tomorrow.

Thanks,

Lee
-----Original Message-----
From: Shoemaker, Kent (GEAE)
Sent: Thursday, April 26, 2001 12:06 PM
To: Johnson, Lee L (PS, GE AEP); 'bill.williams@enron.com'
Cc: 'dale.rasmussen@enron.com'
Subject: RE: Assignment and Assumption Agreement re: E-Next B/O Contract
w/ GE for MCS as EPC for LVCII.

Here are my comments.

Kent

-----Original Message-----
From: Johnson, Lee L (PS, GE AEP)
Sent: Wednesday, April 25, 2001 8:15 AM
To: Shoemaker, Kent
Subject: FW: Assignment and Assumption Agreement re: E-Next B/O Contract
w/ GE for MCS as EPC for LVCII.
Importance: High

Kent,

Please review and note that this needs to be completed by week's end.
Closing date is 5/1 and I'm out rest of week 5/2-6.  We may need some of
Kay's help if we don't like what we see.  But let's try to work it out with
Dale Rasmussen first (Enron Portland office).

Lee

-----Original Message-----
From: Bill.Williams@enron.com [mailto:Bill.Williams@enron.com]
Sent: Tuesday, April 24, 2001 3:58 PM
To: Johnson, Lee L (PS, GE AEP)
Cc: THOMAS CONSTANTINE; Dale.Rasmussen@enron.com;
Jody.Blackburn@enron.com
Subject: Assignment and Assumption Agreement re: E-Next B/O Contract w/
GE for MCS as EPC for LVCII.

Hello Lee.  (I know your thinking - What now!)

As I'm sure you know, we are fast approaching a full notice to proceed on
the LVCII project.  One item that we have as part of our EPC contract with
Modern Continental South, is an Assignment and Assumption Agreement whereby
MCS will assume certain responsibilities for (owner), and abide by the
conditions set forth in that agreement.  We will ask GE to participate in
that Agreement.  I have attached that agreement to this e mail for your
review.  Current plans are for a full NTP (Notice To Proceed) to begin
construction on May 1, and we are working hard to be ready for that key
milestone to occur. Your review and concurrence on the draft document
attached below is appreciated.

Please review and contact me should you have any questions.

Sincerely

W. J.  (Bill) Williams Jr
Director, Technical Services
Enron North America
(503) 464-8958

(See attached file: GE ASSIGNMENT 173951 CLEAN 0417.doc)

 - GE ASSIGNMENT 173951 CLEAN 04171.doc


Thanks Frank.  I will look over the resumes but given Enron's current condition we are not doing any new development projects outside of the pipelines and are relying on Corporate Development to assist with asset sales.  Given all that I don't believe I have a spot for anyone.  Quite frankly, I am concerned about keeping all that I have.

 -----Original Message-----
From: 	Watkins, Rebecca   On Behalf Of Bay, Frank
Sent:	Tuesday, November 20, 2001 2:36 PM
To:	Horton, Stanley
Subject:	Commercial Resumes

Stan -

Attached are the resumes of the key people that have worked with me for the last year and half.  They are Marc Hensel, Martin Sacchi, Bradford Brooks and Corbin Barnes.  I believe they are some of the brightest commercial people at Enron, and in particular have a lot of experience with corporate development, M&A, asset purchases and sales (including international experience).  They are also incredibly hard working people.

Please let me know if your interested, or feel free to contact them directly.

Frank

 << File: Brad Brooks.doc >>  << File: Corbin Barnes.doc >>  << File: Marc Hensel.doc >>  << File: Martin Sacchi.doc >>


All:

Harold Inman, an employee recently with Enron South America has finished his
job there and has returned to Houston.  Harold is currently seeking a new
position and the Global Resource Management group is helping him network.  He
has a strong accounting and finance background as well as information
systems.  Joe Kishkill, his most current supervisor endorses we find a new
position for Harold at Enron.

Harold has expressed an interest in your areas.  His resume is attached at
the bottom of this message.  Please let me know if you have any hiring needs
and are interested in meeting Harold.  Alternatively, if you can provide
additional names for networking, that would be appreciated.

Thank you for your help.

Linda Ng
ext. 3-9892


When: Wednesday, May 30, 2001 4:00 PM-6:00 PM (GMT-06:00) Central Time (US & Canada).
Where: EB 3259

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

 Please plan to attend the KE Southern LNG Deals meeting

	Date: 		Wednesday, May 30, 2001
	Time:	 	4:00 - 6:00
	Location: 	EB 3259

 If you have any questions please contact Mark Breese x36751.

Melissa Solis
x35167


Hi Sara, I added some counterparties to your document.  All counterparties
that we have done hourly financial trades with are in the above document.

Let me know if you need anything else.

Thanks,
Melissa


As you may well know we are being pushed by Arthur Andersen to bring our
prudency policy in line with that of North America.  In response to these
pressures, we have conducted a thorough review of our prudency policy and
have determined that all discretionary prudency and general reserves
(including VAR based prudency) should be eliminated. Deal specific prudency
will, however, remain. In order to avoid any arguments with AA near the
quarter end the release to the London summary DPR should happen today for the
August month end.

Apologies for the short notice but the final decision was only made very
recently. Please pass this message around to those people in your groups who
are not on the above mail list so that 'everyone' is aware of the change.

If there are any questions please let me know.

James


obsequy (OB-se-kwee) noun

   A funeral rite or ceremony.

[Middle English obsequie, from Middle French, from Medieval Latin obsequiae,
alteration (influenced by Latin exsequiae, funeral rites) of Latin obsequia,
plural of obsequium, compliance.]

   "When (Anthony) Powell died, in March of last year, at the age of
   ninety-four, the New York Times Book Review devoted a Bookend column to
   the obsequy."
   Christopher Hitchens, An Omnivorous Curiosity, The Atlantic Monthly
   (Boston) Jun 2001.

This week's theme: red-herring words.

............................................................................
All zoos actually offer the public, in return for the taxes spent upon
them, is a form of idle witless amusement, compared to which a visit to the
state penitentiary, or even a state legislature in session, is informing,
stimulating and ennobling. -H.L. Mencken, writer, editor, and critic
(1880-1956)

Looking for a word or quotation previously featured in AWAD? They are all
archived at http://wordsmith.org/awad/archives.html . For the theme list,
see http://wordsmith.org/awad/themes.html . Alphabetical listing of the
words is available at http://wordsmith.org/awad/wordlist.html

Pronunciation:
http://wordsmith.org/words/obsequy.wav
http://wordsmith.org/words/obsequy.ram


Hey Matt,

So when you have a minute, I would appreciate if you could call me at (403) 974-6721. I'll go grab Pavel right away.

Thanks a lot.
Stephane


Here is a further update on the Amsterdam power issue.
---------------------- Forwarded by Jeffrey T Hodge/HOU/ECT on 01/19/2000
09:26 AM ---------------------------

Mark Elliott
01/19/2000 09:11 AM
To: Tjepco.vanVoorstVader@cliffordchance.com
cc: ed.patton@cliffordchance.com, Joe Gold/LON/ECT@ECT, Roy
Poyntz/LON/ECT@ECT, Ross Sankey/LON/ECT@ECT, Teun Van Biert/LON/ECT@ECT, Dirk
Van Vuuren/LON/ECT@ECT, Stephen Asplin/LON/ECT@ECT, Andreas
Lorenz/LON/ECT@ECT, Reuben Maltby/LON/ECT@ECT, Michael R Brown/LON/ECT@ECT,
Jeffrey T Hodge/HOU/ECT@ECT, Mark Schroeder/LON/ECT@ECT
Subject: URGENT: SECOND E-MAIL FOLLOWING CLIFFORD CHANCE MEETING IN AMSTERDAM
- Dutch txn - Year 2000 - Issues to work up into a legal strategy: STRICTLY
PRIVATE & CONFIDENTIAL - ATTORNEY - CLIENT PRIVILEDGE

Tjepco,

Following our useful meeting with yourself and your colleagues yesterday in
Amsterdam, I now set out below the various issues, in what we consider to be
the order of priority, relating to Dutch transmission for the Year 2000 upon
which we need your, and your colleagues', advice with respect to framing an
entire coordinated legal strategy (e.g., time-lines / scales, coordination
between actions, ?Nma v Courts or both, costs liabilities of Enron to
defendants if we lose) for Enron so as to apply the maximum, effective, legal
pressure on the various parties and to effect a resolution to such issues as
quickly as possible - the longer the current situation persists the more
money Enron will lose - whilst at the same time allowing us to weigh up the
"cost - benefit" analysis of all the various scenarios.

Please note the following when planning our legal strategy:

- Enron Capital & Trade Resources Limited ("ECTRL") (an English incorporated
company) is our company which has entered into physical electricty sales
contracts to supply certain Dutch Distribution Companies. The physical supply
contracts are governed by Dutch law and are subject either to ICC arbitration
in either Paris, Rotterdam or the Hague or the NAI in Rotterdam or the Hague
(dependant upon the counterparty).

- ECTRL is also a Participant on the APX.

- Enron Capital & Trade Resources International Corp. ("ECTRIC") (a company
incorporated  in Delaware, U.S.) is the Enron entity which, as principal,
enters into financial swaps, arranged through Enron Europe Finance & Trading
Limted ("EEFT") (an English incorporated company which is regulated by the
SFA),  with, among others,  Dutch Distribution companies.   The swap
contracts have all been documented on a "Deemed" ISDA basis (representative
confirms have already been sent to you on this aspect).

Clearly although the first three issues are "TOP PRIORITY", the Secondary
Priority Issues are not far behind them and so we should be obliged to
receive your consolidated written report on all the issues on or before
Wednesday, 26th January, as we discussed yesterday.  When providing that
report, please also let us have at the same time estimates of your fees for
the whole of your team (incl. London and the US) ("ball-parks" are fine at
present) broken down into:

- fees for Clifford Chance's preliminary advice, including the written
strategy report;

- fees for Clifford Chance prosecuting the Sep take-or-pay issues;

- fees for Clifford Chance prosecuting the APX issues;

- fees for Clifford Chance prosecuting any actions / defences / counterclaims
on the swaps and / or physical contracts.

Fee estimates for Clifford Chance prosecuting any of the Secondary Priority
issues can come later.

Please also pay particular attention to how we might obtain evidence to the
appropriate standard of market rigging on the APX etc., conspiracy, etc, re
defence / counterclaim to any non-payment by Enron on the Swaps (see Points 2
+ 3 below).

1. IMMEDIATE PRIORITY - Query: What  Court actions do we have against TenneT
and / or SEP re allocation of capacity by TenneT   to SEP for Yr 2000 in
November 1999?

 Issue 1 - Miss-allocation by TenneT of 1500 MW of cross-border capacity by
TenneT to SEP (first step in allocation which defined quota of balance of
cross-border capacity available to the market)

 Issue 2 - Unlawful speculative reservation or other unlawful reservation of
capacity by SEP (e.g. re non take-or-pay elements).

 Issue 3 - Unlawful retention and / or unlawful application of capacity by
SEP once granted capacity by TenneT (blocking of essential facilities,
i.e.,   generation, to other parties)

Resolution required:
The quickest way possible to deny Sep right to use TenneT capacity for
non-take or pay elements (nb relevant take or pay is energy component ie
obligation to import at border cf take or pay on "virtual" capacity) as soon
as possible
The quickest way possible to have that capacity released to the APX in
accordance with existing "use it or lose it" principle or TenneT to allocate
to term market under "weekly" contract category established by DTE as soon as
possible.

Evidence:  Herkstroter report (implied), 1999 despatch regime (implied),
general market "consensus", electricity plans?, DTE consultation paper on
transmission (reference to virtual power plants), EZ/DTE advice which limited
reservation to take or pay (hence only needed if some parts were non take or
pay).  Current despatch levels on term deals (imply Sep taking 1500 MW).
Query method of putting all of this in evidence, "discovery" etc.

(PLEASE NOTE THAT THIS IS ALREADY INCLUDED AS AN ISSUE IN THE EXISTING NMA
COMPLAINT AGAINST TENNET (NOT SEP AT PRESENT) IN RESPECT OF ITS ALLOCATION
PROCESS ON COMPETITION GROUNDS COMMENCED THROUGH LOEFF CLAEYS IN DEC 1999).

Points to note :  (1) Initial Clifford Chance view - Summary proceedings
against TenneT & Sep.  Time-line needed of when to commence,      length of
time to get to Court, ? best methodology of getting Sep contracts before the
Court, etc

     (2) Query value of Clifford Chance initial letter to TenneT and / or Sep
requesting confirmation that all Sep contracts are full      take-or-pay.

2. IMMEDIATE PRIORITY - Query: Preparation of  Draft proceedings against the
APX

 Issue 1 - Drafting of summary proceedings by ECTRL as a Participant against
APX for failing to enforce & to compel them to enforce the APX Rules on
ensuring firm cross-border capacity pre-bid & to prevent market manipulation.

  Note failure of APX to enforce its Rules causes losses both to:

  (a) ECTRL on its physical sales onto APX from Germany (and Belgium) by
virtue of other parties preventing legitimate level of sales by    ECTRL by
breaching APX rules Art 12.1 etc.

  (b) ECTRL on its physical supply contracts (as prices on the APX are
artificially higher than contracted supply price);
   plus

  (c) ECTRIC on swaps - ECTRIC shorted APX floating price to certain APX
Participants whom we believe are now manipulating the APX,    causing
artificially high prices, hence securing more profit out of the swaps.

 Issue 2 - Query availability of shareholder (10%) action by ECTRL (in
concert with others) as shareholders of the Exchange against APX for
mis-management in failing to enforce APX Rules leading to (a) damage to
certain  Participants and / or (b) damage to APX's prospects as a main
European power exchange.

Resolution required / Tactics: (1) APX has published certain cross-border
transmission contract "audit" requirements which are to come into
effect       on 20.1.2000 (copy will faxed shortly) - we query effectiveness
of this "compromise" approach plus there isnothing       specific mentioned
re other manipulative conduct (e.g., "crossing").  Hence, Issue 1 above
required to be done       as, if APX measures fail, then we may need to file
suit quickly to bring matters to a head.

     (2) IMPORTANT - Irrespective of whether or not APX audit prevents
manipulation etc., need to consider taking       appropriate actions
againstAPX  or others in any event asap in order to flush out evidence re
manipulation /       conspiracy among certain Participants re any defence /
counterclaims to any non-payment on swaps etc - see        3 below.

     (3) Query benefit at this stage of shareholder letter to APX "setting
scene" for mis-management corporate action

Points to note: Time-line needed of when to commence, length of time to get
to Court., etc, plus, re (2) above, ? best methodology of gathering
sufficient    evidence in due time for defence / counterclaims on swap issues
- see 3 below.

3. IMMEDIATE PRIORITY - Query:  Do we have any legitimate grounds for
non-performing on our swap contracts / physical contracts,  and  what should
be our strategy re this (e.g., pre-emptive actions or defensive actions /
counterclaims)?

 Note: certain counterparties to contracts with Enron are causing loss to
Enron by, what we believe, is market manipulation of APX, collusion to
lock-up  market etc.  Certain other parties to such contracts with Enron we
do not believe are party to such conduct.  Losses to Enron are however
occurring as  follows:
  (a) to ECTRL on its physical sales onto APX from Germany (and Belgium) by
virtue of other parties preventing legitimate level of sales by    ECTRL by
breaching APX rules Art 12.1 etc.

  (b) to ECTRL on its physical supply contracts (as prices on the APX are
artificially higher than contracted supply price);
   plus

  (c) ECTRIC on swaps - ECTRIC shorted APX floating price to certain APX
Participants whom we believe are now manipulating the APX,    causing
artificially high prices, hence securing more profit out of the swaps.

 Issue 1 - Can ECTRIC legitimately withhold payments on the swaps?

   - Query:  availability of pre-emptive damages or other forms of action(s)
against swap counterparties

  -  Query: best jurisdiction (esp. re swaps - English, Dutch US)?

Resolution needed:  need to obtain from a strategic perspective best
jurisdiction(s) and best course and causes of action on a pre-emptivebasis as
far as    possible - to avoid claims of forum shopping and bring maximum
pressure; plus advice needed on whether we should take pre-emptive    action
or to defend and / or counterclaim if we get sued if we do not perform on
swaps or physical contracts.

Initial Clifford Chance view:  None / no suitable  pre-emptive action
available to Enron - defences / counterclaims only.  All proceedings likely
to be in England and subject to contracts' governing law (English) (under Art
17 Brussels' convention + Dutch conflict of laws principles).  Highly
unlikley that any U.S. action by Enron practically possible - U.S. courts
will consider forum shopping (unless can show that Dutch counterparty has
"minimum contacts in the US" (?means in detail?) - even then, U.S. courts
unlikely to give any appropriate relief - query enforcement problems in any
event.   Clifford Chance's initial "gut reaction" is to withhold payment -
wait for counterparty to sue which would probably be by way of summary
judgement (approx 2 - 3 months to get court in England).  If so, to defeat
summary proceedings thus delaying matters to full trial, ECTRIC would then
need to establish prima facie case for either defence on breach of  implied
term (v. difficult indeed but "gut reaction" is that London Commercial Court
could be swayed by an argument that actual counterparty has acted in bad
faith, e.g., manipulated mkt - fairly untested area) and / or counterclaim
for conspiracy to defraud (for which need to establish prima facie case of
conspiracy between counterparty and others to rig the mkt, etc).

Notes: (1) Need to thoroughly investigate all options here (approx 70 % of
losses could be on the swaps)

 (2) Need to consider evidence re mkt rigging / conspiracy to defraud,
practically whether this could effectively be brough to light by any
actions   against APX - see Issue (2)  of Point 2 APX above -  the "race"
between timescales of summary judgment in England versus any actions
against   APX under Dutch law to flush out evidence .  Any additional ways of
securing appropriate evidence to the relevant standard of proof (whether
through crt actions or otherwise) - whether in the UK, US or in the
Netherlands - and timescales?  E.g., availability of putting people on the
"Witness   Stand" in the Netherlands

 (3)  Queries re Clifford Chance initial view:

  (a) Repercussions - action by counterparty not by way of summary judgment
but by way of filing insolvency petition under Section 123  IA    1986

  (b) Any views altered re amenability of commercial crt if (i) Enron knew
last year that APX could be manipulated + if Enron itself had enterd into
similar, but smaller-scale, manipulation for short period last year?

 (4) Check: Ability of Dutch counterparties to swaps to speculate rather than
hedge by way of OTC Derivatives and any good faith/integrity issues re'
parties use of speculative cf hedging swaps combined with deliberate and
systematic market manipulation by swap counterparts.

 (5) Query:  Any SFA repercussions for EEFT?

 Issue 2 - Liability of ECTRL under physical supply contracts.

  - Does 20% liability cap on physical contracts work if ECTRL fails
intentionally to deliver?

  - Does consequential losses exclusion on phyiscal contracts work if ECTRL
fails to deliver?

  - Strategy (i.e., should we fail to deliver, pay undisputed amount of bill
and dispute rest of bill and let counterparty take us to arbitration?  OR,
can    this have any adverse repercussions re any other opart of our legal
strategy?)

4. SECONDARY PRIORITY - Query: What actions do we have against TenneT to
recoup our losses re allocation of capacity by   TenneT for Yr 2000 in
November 1999?

Issue 1 - Misapplication in law of capacity (i.e. 800 MW) by TenneT to Market
parties (e.g., Enron) after Sep allocation : allocation favoured incumbents
based on market share - this caused a new entrant such as Enron loss.

Issue 2 - General unreasonable behaviour / lack of good faith of TenneT
Misleading market with early rules; addition of extra unfounded rules post 19
Nov (in reasonable knowledge that market parties had already acted on earlier
information from TenneT).
1,2 Jan 2000 : closing Dutch market to imports (query whether this was also
for the UCTE system support activities; suspect not) in an unreasonable
fashion ie changed procedures when it had no need so to do.  The normal
procedures whereby TenneT curtailed in the event of a problem on the day
would have been sufficient to maintain system stability.
Disingenous allocation of 2300 MW in off-peak capacity (night) at the same
time as indicating to the market that no more than 1000 or 1200 MW was
expected by TenneT to be available for use due to Sep's plant despatch
regime.  Reasonable action would have been to allocate no more than the 1000
MW to Sep and the market on a term basis with any additional capacity
available on a given day treated as (uncertain) spot capacity and allocated
to the APX.
Lack of checking and/or other disingenuity re' failure properly to check Sep
take or pay obligations.
Lack of transparency of information eg French grid problems result in cut of
300 MW available to APX.  No assistance from TenneT either to provide
guidance as to the real extent or duration of the problem or to take
reasonable steps to mitigate the problem by eg co-operating with market
parties aiming to put in place offsetting transit arrangements to alleviate
the congestion.

PLEASE NOTE THAT THIS IS ALREADY SUBJECT TO THE SAME EXISTING NMA COMPLAINT
ON COMPETION GROUNDS REFERRED TO IN 1. ABOVE COMMENCED THROUGH LOEFF CLAEYS
IN DEC 1999.

Resolution required:  Damages against TenneT

Evidence:  Herkstroter report (implied), 1999 despatch regime (implied),
general market "consensus", electricity plans?, DTE consultation paper on
transmission (reference to virtual power plants), EZ/DTE advice which limited
reservation to take or pay (hence only needed if some parts were non take or
pay).  Current despatch levels on term deals (imply Sep taking 1500 MW).  Sep
newspaper quotes (intent to use 1500 MW day and night) - intended block on
capacity and refusal to contemplate change to superpeak pricing.  Query
method of putting all of this in evidence, discovery etc.

5. SECONDARY PRIORITY -  Query:  ability of Enron to claim damages against
APX for losses suffered owing to failure of APX to enforce its Rules and to
allow gaming, etc.

Note failure of APX to enforce / have enforced its Rules causes losses both
to:

(a) ECTRL on its physical sales onto APX from Germany (and Belgium) by virtue
of other parties preventing legitimate level of sales by ECTRL by breaching
APX rules Art 12.1 etc.

(b)  ECTRL on its physical supply contracts (as prices on the APX are
artificially higher than contracted supply price);
plus

(c)  ECTRIC on swaps - ECTRIC shorted APX floating price to certain APX
Participants whom we believe are now manipulating the APX, causing
artificially high prices, hence securing more profit out of the swaps.]

Resolution required:  Damages against the APX

6. SECONDARY PRIORITY - Query: Actions against APX Participants for
manipulating the APX DAM causing losses to Enron

Note manipulation of APX DAM by certain Participants causes losses both to:

(a) ECTRL on its physical sales onto APX from Germany (and Belgium) by virtue
of others parties preventing legitimate level of sales by ECTRL by breaching
APX rules Art 12.1 etc.

(b) ECTRL on its physical supply contracts (as prices on the APX are
artificially higher than contracted supply price); plus

(c) ECTRIC on swaps - ECTRIC shorted APX floating price to certain APX
Participants whom we believe are now manipulating the APX, causing
artificially high prices, hence securing more profit out of the swaps.

Resolution required:  What action can we take against APX Participants (i) to
prevent them further manipulating APX and (ii) claiming our losses against
them on both ECTRL's physical supply contracts and ECTRIC's swaps?

In particular:   Query:  availability of injunction / summary proceedings
against APX Participants to prevent them from manipulating APX DAM

7.  SECONDARY PRIORITY -  Query : Actions against SEP

(a) Plant despatch : see below re' collusive behaviour.

(b) Protocol : Sep refusing to contemplate changes to superpeak charges
(which in no way bear reasonable relation to supply/demand or electricity
production costs).

Query : availability to Enron of injunctive and/or other relief against Sep
for (a) unlawful application and retention (eg query damages action against
Sep) and /or (b) nature plant despatch and / or (c) conduct re Protocol.

Evidence : Herkstroter report (implied), 1999 despatch regime (implied),
general market "consensus", electricity plans?, DTE consultation paper on
transmission (reference to virtual power plants), EZ/DTE advice which limited
reservation to take or pay (hence only needed if some parts were non take or
pay).  Current despatch levels on term deals (imply Sep taking 1500 MW).  Sep
newspaper quotes (intent to use 1500 MW day and night) - intended block on
capacity and refusal to contemplate change to superpeak pricing.  Query
method of putting all of this in evidence, discovery etc.

5. Query:  Actions available to Enron against Parties for collusive behaviour

Supply market actions

Deliberate and systematic attempts by certain parties (predominantly large
Dutch distcos) to deny new entrants ability to access capacity/energy at
reaonable prices by virtue of a) withholding capacity within NL ie Protocol
and b) breaching APX rules (gaming) in such a fashion as to block legitimate
access for those parties with foreign txn to sell legitimate volumes on APX
consistent with APX rules.   Effect of withholding capacity from market
compounded by (collusive) actions to manipulate APX prices by strategic
bidding.

 - Protocol: Collusive behaviour suspected by Dutch Distcos re locking
parties out of re-contracting and use of Protocol to disadvantage of new
market entrants (e.g., see EnergieNed letter: ?? now in public domain + note
transcript of Wed 12.1.00 Arnhem Court case on Protocol re intent of parties
to  keep market short)

 - APX
  - Art 25.3 APX DAM Regs - collusion by certain APX Participants suspected
re rigging APX prices

  - Art 12.1 APX DAM Regs - collusion suspected by certain APX Participants
re failing to ensure that parties have firm cross-border capacity prior to
making bids on to APX

Sep/TenneT

- Import allocation : collusion to fudge take or pay issue?
- Plant despatch by Sep : collusion to ensure that Sep can despatch plants in
such a fashion as to minimise possible imports?

Note : burden and standard of proof of collusive behaviour and ability and
means to obtain discovery of such behaviour.  Some evidence exists from ENECO
court case (transcript of Arnhem case public?) plus EnergieNed letter pls
taped APX participants meeting of 10 Jan 2000 (public or accessible to Enron
as participant?).

Kind regards

Mark


Frank,

I assume you want to take advantage of this opportunity.
Please, confirm.

I shall notify Andreas.

Vince

	Enron North America Corp.

	From:  Frank Hayden @ ENRON                           12/14/2000 09:55 AM

To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Re: GARP 2001 Convention

thanks,
Frank

Vince J Kaminski@ECT
12/14/2000 09:45 AM
To: Frank Hayden/Corp/Enron@Enron
cc: Vince J Kaminski/HOU/ECT@ECT

Subject: Re: GARP 2001 Convention

Frank,

Does this help?  Please, let me know.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 12/14/2000
09:44 AM ---------------------------

"Andreas Simou" <andreas.simou@garp.com> on 12/13/2000 04:51:51 AM
To: <Vince.J.Kaminski@enron.com>
cc:
Subject: Re: GARP 2001 Convention

Dear Vince

Thank you for your recent enquiry concerning a complimentary pass to the
two-day GARP Convention. Unfortunately, it is not GARP's policy to allow
this for a number of reasons: GARP is a not-for-profit organisation, will
much lower delegate fees (and still the same overheads) than other
conference organizers. GARP's mission is to allow an educational forum for
furtherance of financial risk management and an opportunity to allow
networking and contact time between financial risk professionals. However,
in an attempt to remain at ease with my speakers, I would like to offer a
50% discount off the delegate fee for one of you colleagues in Enron. This
will be for the two-day Convention and will include the Gala Awards Evening
on 13th February, which had over three financial and risk professionals at
GARP 2000.

I trust that this is satisfactory. If you would like to take advantage of
this, please fax a completed registration form, along with a brief covering
note referring to this e-mail, and I will ensure that our administration
depart handle the relevant paper work. If you have any questions please do
not hesitate to contact me.

I look forward to your response and to meeting you in New York in February
(and receiving a copy of your presentation in a few days).

Kind regards

Andreas

----- Original Message -----
From: <Vince.J.Kaminski@enron.com>
To: <andreas.simou@garp.com>
Cc: <Vince.J.Kaminski@enron.com>
Sent: Tuesday, December 12, 2000 8:50 PM
Subject: Re: GARP 2001 Convention

Andreas,

Am I entitled to bringing one delegate as a guest, free of charge?
Some conferences offer such privileges.

Vince

"Andreas Simou" <andreas.simou@garp.com> on 12/04/2000 06:31:37 AM

To:   <Undisclosed-Recipient:@mailman.enron.com;>
cc:
Subject:  GARP 2001 Convention

Dear GARP 2001 Speaker

This is just a quick note to keep you up-to-date  with developments at the
GARP 2001 Convention, which will be  held in New York between 12th and 15th
February, 2001.

Thus far, GARP 2001 looks set to far exceed our  expectations and GARP
2000. There has been a great deal of interest in the 2001  Convention.
Delegate bookings have been much higher than this time last year. As  a
result, we are set to far exceed the number of delegates that attention
earlier this year. The three workshops and the one-day Asset Management
Forum  are also very well received and will probably reach full capacity. I
will of  course provide you with much fuller details closer to the time of
the  event.

Regarding the event itself, I would like a few  outstanding issues:

1. Presentations: can you please  e-mail your presentation to me by 15th
December, so that I have  enough time to reproduce them and place them in a
delegate pack for the  Convention. (Given the break of the Christmas and
New York period, and that the  event is being held in New York, I am sure
you can appreciate that there are  certain logistical factors that need to
be taken into account, hence the reason  why the presentations are required
as soon as possible). This is purely for  reproduction, we also request you
bring your presentation to the Convention  on the day in either a floppy
disc or a laptop.

2. Audio-Visual Requirements: can  you please inform me of what
audio-visual requirements you may have (35mm  slides; OHP; LCD projection -
notably PowerPoint).

3. Check list: I have attached a  check list for your information. If you
have not returned this already, can you  please read and fax it to my
colleague, Claire as soon as possible.

If you have any questions or queries, please do not  hesitate to contact
me, otherwise I eagerly await your response in due  course.

I look forward to seeing you in New York in  February.

Kind regards

Andreas

_____________________________
Andreas  Simou
GARP 2001 - Conference Producer
Tel +44 (0) 20 7626  9301
Fax +44 (0) 20 7626 9900

Don't miss the GARP 2001 Convention,
program  details via our web site
www.garp.com
(See attached file: speaker checklist.doc)


Greetings:

We are getting considerable traction with the idea of using a "benchmark" to
judge utility purchases, similar in concept to what's in place on the gas
side.  To oversimplify it:

1) set the benchmark
2) the utility buys for consumers and tries to beat the benchmark
3) if (at the end of the year) the utility has beat the benchmark, it shares
the profits with consumers; if the benchmark wins, the utility shares the
losses with consumers
4) the PUC performs no "after-the-fact" reasonableness; no "second-guessing"

California likes the idea and is now looking to Enron to come up with what
the benchmark ought to be.  I talked to Calger a bit about it today and he
suggested that I get together with you guys.  As always, time's short. Are
you available on Monday?

Thanks,
Jeff


got this one
 -----Original Message-----
From: 	"Zerilli, Frank" <fzerilli@POWERMERCHANTS.COM>@ENRON [mailto:IMCEANOTES-+22Zerilli+2C+20Frank+22+20+3Cfzerilli+40POWERMERCHANTS+2ECOM+3E+40ENRON@ENRON.com]
Sent:	Thursday, August 23, 2001 11:25 AM
To:	'jarnold@enron.com'
Subject:

3 Trades EFP Style....

500 lots-Duke Energy (using Prudential)
1000 lots AEP Energy (using PFS)
1000 lots Williams Energy (using Paribas)

You are selling futures and buying LD SWAPS

NYMEX posting price is $2.775

Thank You


----- Forwarded by Richard B Sanders/HOU/ECT on 10/15/2000 09:00 AM -----

	James D Steffes@ENRON
	10/12/2000 02:09 PM

		 To: Tim Belden/HOU/ECT@ECT, Vicki Sharp/HOU/EES@EES, Richard B
Sanders/HOU/ECT@ECT, Christopher F Calger/PDX/ECT@ECT
		 cc:
		 Subject: Peace Targetting Market Players

I wanted you to be aware that we may start to see some negative press from
Sen. Peace.  We be working up some potential responses, although we may end
up simply not responding publicly.

Jim

----- Forwarded by James D Steffes/NA/Enron on 10/12/2000 02:09 PM -----

	Jeff Dasovich
	Sent by: Jeff Dasovich
	10/12/2000 12:52 PM

		 To: James D Steffes/NA/Enron@Enron, skean@enron.com, Richard
Shapiro/NA/Enron@Enron, mpalmer@enron.com, Karen Denne/Corp/Enron@ENRON, Mona
L Petrochko/SFO/EES@EES, Susan J Mara/SFO/EES@EES, Paul Kaufman/PDX/ECT@ECT,
Sandi Mccubbin, Joe Hartsoe/Corp/Enron@ENRON, Sarah Novosel/Corp/Enron@ENRON,
Mary Hain/HOU/ECT@ECT
		 cc:
		 Subject: Peace Targetting Market Players

FYI.  Just got a call from Jan Smutney-Jones.  Apparently, word is on the
street that Peace intends to begin targeting Enron as an example of the
"misconduct" that Peace alleges has occured in California's markets.  Smutney
thinks Peace may be keying off the comments of the "unnamed" trader in the
Dow article claiming that Enron's been buying power and holding on to it.
Apparently Peace's other angle is/will be:  "The same people who colluded in
the design of this market are now colluding to profit unfairly from it."  No
idea of when and how Peace might launch any attacks.  Two immediate thoughts:

Apart from the bad reporting in the Dow article, that article shows that
Enron got beat by, among others, two federal (Canada and the US), one state
(SRP) and one municipal (LADWP) government.
David Freeman, who now heads up LADWP, was appointed "Czar" by the State of
California and charged with the task of implementing Steve Peace's brain
child (AB 1890).  Freeman set up the ISO and PX market structures.  He also
set up the Governing Boards.


FYI

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 08/24/2000
08:51 AM ---------------------------

	Michael Anderson @ AZURIX
	08/23/2000 07:48 PM

To: Vince J Kaminski/HOU/ECT@ECT
cc: keith.harris@wessexwater.com
Subject: UK RAB Multiples

I talked with Keith Harris, our CFO at Wessex, about the RAB multiple graph I
gave you.  He expressed that the Wessex people had originated the data and
that the graph was correct, to the best of their knowledge.  The only (but
very important correction) is that they started the graph at an index of
100%, which does not imply a 100% of RAB multiple.  Rather, the initial RAB
multiple was around 80%, implying that the entire line should be taken down
by 20 percentile points.  Thus the all time hime in late 98 should be closer
to the 1.3x RAB that I had targeted during our discussion.  Please call Keith
if he has not yet contact you.


Approval granted.  SRS

Magdelena Cruz@ECT
03/06/2001 08:10 AM
To: Jeff Skilling/Corp/Enron@ENRON
cc:

Subject: Class Request: TUT-XMS-1073 Tutorial-XMS,  Joannie Williamson

Your approval is required for Joannie Williamson to attend the following
class.
To grant approval, send a reply to "magdelena.cruz@enron.com" (NotesMail:
Magdelena Cruz/HOU/ECT).
  Be sure to include employee's name and class number in reply.

Tutorial-XMS
Session Dates & Times:
  03/13/2001  2:30:00 PM-4:00:00 PM
Location: Your Office
No Show/Participant Fee: $ 150.00

If you have any questions, please call the Technology Training Coordinator at
713-853-1816.


Is this some scam foundation that you have set up so that you can retire
early... I know how these things work, I've been around the block.

Seriously though, I will be happy to contribute.

-Eric

To: Matt Culver/HOU/EES@EES, Laura Evans/HOU/EES@EES, Michael H
Garred/HOU/EES@EES, C Kyle Griffin/HOU/EES@EES, Monica Roberts/HOU/EES@EES,
Christopher Smith/HOU/EES@EES, Heath Kendall/HOU/EES@EES, Brian Hoskins/Enron
Communications@Enron Communications, Eric Bass/HOU/ECT@ECT, Cindy
Richardson/Corp/Enron@ENRON, James Saunders/FGT/Enron@ENRON, John
McCarthy/HOU/EES@EES, Debra Blake/HOU/EES@EES, Brad Bangle/Corp/Enron@Enron,
Brant Reves/HOU/ECT@ECT
cc:
Subject: Juvenile Diabetes Foundation Walk

Hi everyone,

I will be *walking to cure diabetes* on November 5th, and was hoping each of
you could donate on my behalf.  As is written below, 84% of all donations to
JDF go directly to diabetes research.  Wouldn't you feel good about giving to
such an efficient organization and honorable cause?  I'm sure you all need a
tax write-off too, right? :)  You can use a copy of your canceled check for
tax purposes.

Also, if you donate $25 or more, you will get an Enron JDF T-shirt.  Of
course, donations of any amount will be greatly appreciated.  Feel free to
forward this message to others who might be interested in donating, as well.

I will be making the rounds next week to get a head start on collecting, so
please email me if you'd like to contribute and bring a check made payable to
Juvenile Diabetes Foundation.

Thanks in advance for your participation!
Allison
---------------------- Forwarded by Allison Easton/HOU/EES on 09/13/2000
03:46 PM ---------------------------

Mike McConnell@ENRON
09/08/2000 09:59 PM

Sent by: Enron Announcements@ENRON
To: All Enron Houston
cc:
Subject: Juvenile Diabetes Foundation Fundraising

It is my sincere honor to once again lead the Enron team in this year's
Juvenile Diabetes Foundation (JDF) walk scheduled to take place on Sunday,
November 5, 2000, at the Sam Houston Race Park.  I continue to serve on the
board of JDF representing Enron and will be Enron's corporate executive for
this year's fundraising efforts.

As many of you may already know, I am an insulin dependent diabetic myself.
Even though I know how difficult this disease can be to manage with the
multiple finger pricks for blood samples and several shots each day, I cannot
imagine how difficult it is for a small child with this disease.  Taking
insulin does not cure the disease nor prevent the development of
complications; insulin is simply their life support system and without it
they would die.

Enron continues to be a major corporate sponsor for JDF again this year.  JDF
is a very efficient organization in which approximately 84% of all money
raised goes directly to research.  Enron's goal this year is to raise
$225,000 and we need your help.  Enron has been the number 1 walk team for 5
years in a row and we are not ready to give up first place!  We need team
leaders, walkers and volunteers to help us reach our goal.  The theme for the
walk this year is "Knock Out Diabetes" and we would like to have you join us
for this great event.  The Walk is truly a blast and we had about 500 Enron
people participate last year and everyone enjoyed it.

If you are interested in volunteering to be a walker or a team leader, or if
you would like to make a pledge, you may call any of the steering committee
members listed below.  If you are interested in being a team leader, please
contact one of the following people immediately so that you may be included
in the first important and informative training session taking place this
week.

Thank you very much for your support.

Mike McConnell

Steering Committee Members:

Blanca Bollom X66091
Rachel Feldt  X57629
Deb Gebhardt X39606
Cathy Phillips X36898
John Walt  X35379
Debbie Yates X35305


John Fielder SVP of Edison will expect Dave and Mike (and me, if I'm not
wrappped up in the interminable BS to try and get CA's market back on its
feet) at Edison's offices in Sacramento at 1 PM tomorrow, Wednesday, July
11th.

Address:

1201 K Street
(12th & K)
Suite 1810
Sacramento
916.441.3966

Best,
Jeff


Please plan on adjusting your PL for the following amount during the month of
November...

Frank


Can you believe this?


<<2R6KRED.DOC>>  <<2R6LRED.DOC>>  <<2rm302!.DOC>>  <<2RQB01!.DOC>>

We have enclosed the following documents for your review:

 1.  Revised draft of the Liability Company Agreement of CA Energy
Development I, LLC, marked to reflect revisions from the draft circulated on
12-01-2000;

 2.  Revised draft of the Letter Agreement for CA Energy Development
I, LLC, marked to reflect revisions from the draft circulated by Fulbright
and Jaworski on 12-07-2000;

 3.  Revised draft of the Letter Agreement for CA Energy Development
II, LLC, which is identical to the enclosed Letter Agreement for CA Energy
Development I, LLC; and

 4.  Revised draft of the Letter Agreement for CA Energy Development
II, LLC pertaining to the transformer, marked to reflect revisions from the
enclosed Letter Agreement for CA Energy Development I, LLC.

 Please advise of any further comments.  Thank you.

Carolyn M. Campbell
King &  Spalding LLC
713-276-7307 (phone)
713-751-3280 (fax)
ccampbell@kslaw.com <mailto:ccampbell@kslaw.com>

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

 - 2R6KRED.DOC
 - 2R6LRED.DOC
 - 2rm302!.DOC
 - 2RQB01!.DOC


Have spoken to NSTAR about granting consent.  they are discussing internally and will get back to me

Regards
John

-----Original Message-----
From: Nettelton, Marcus
Sent: Wed 12/12/2001 2:10 PM
To: Kroll, Heather
Cc: Llodra, John; Wood, George; Baughman Jr., Don
Subject: FPL CA

Heather,

We will need to obtain NSTAR's written approval to disclose their contract to any third party. To date we have received the approval of CMP and UI to disclose to third parties and the CA agreed to is in the form attached.

John Llodra is currently working with NSTAR to get them to buy themselves out of our contract. By copy of this email, John, please could you  get NSTAR's  consent to disclose to third parties for the purpose of assigning our obligations to such third parties.

Marcus

<<fpl.Assignment.doc>>


FYI
---------------------- Forwarded by Mary Theresa Franklin/HOU/ECT on
03/14/2000 05:31 PM ---------------------------

MARY THERESA FRANKLIN
03/14/2000 05:31 PM
To: Katherine L Kelly/HOU/ECT@ECT
cc: Robert Allwein/HOU/ECT@ECT, Carrie Hollomon/HOU/ECT@ect, Brenda H
Fletcher/HOU/ECT@ECT
Subject: Re: CNR Contracts

We have had an unexpected death in my family, requiring me to be out of the
office the rest of the week.   I am sorry the timing is so bad, I will
contact Robert first thing next week and we can workout a game plan going
forward.  Thanks for your patience...

---------------------- Forwarded by Mary Theresa Franklin/HOU/ECT on
03/14/2000 05:08 PM ---------------------------
To: Mary Theresa Franklin/HOU/ECT@ECT
cc: Robert Allwein/HOU/ECT@ECT, Joan Veselack/Corp/Enron@ENRON, Carrie
Hollomon/HOU/ECT@ect, Brenda H Fletcher/HOU/ECT@ECT
Subject: Re: CNR Contracts

The contracts are the transportation agreements on CNR.  Robert sat with
Chris Germany yesterday and to our knowledge these gathering contracts have
never been set up in our systems.

I'll be in meetings until 3:30, so please feel free to talk to Robert Allwein
down on 30.  Actually, I think it would be a great idea to spend a few
minutes talking about this to get on the same page before anyone gets too far
into the process and we discover that rework is being done.

MARY THERESA FRANKLIN
03/14/2000 01:35 PM
To: Katherine L Kelly/HOU/ECT@ECT
cc: Carrie Hollomon/HOU/ECT@ect, Brenda H Fletcher/HOU/ECT@ECT
Subject: Re: CNR Contracts

I just meet with Gloria to decipher what the status is on all her E-mails.
She's identified all the remaining rate changes needed for today's payments,
the transport contracts needed to be setup, Sitara numbers needed for
contracts already set up, and the meters needing to be linked to transport
contracts.  I'm still fuzzy on this whole process and am not sure what Robert
Allwein's 60 or 70 contracts relate to... are these purchase contracts?
I'll be up shortly, working with Brenda... let's see if a meeting would be
good.


I was not successful in getting a telephonic meeting scheduled last week.  Please let me know if you are available this week, specifically tomorrow afternoon or Thursday afternoon.  Thank you!

____________________________________________
Stephanie M. Truss
Senior Administrative Assistant
Enron Wholesale Services
1400 Smith Street
Houston, Texas 77002
(713) 345-3861 - Telephone
(713) 646-3490 - Facsimile


Hi Richard,

Please call me if you have any questions.  Thanks.

Mary


Attached is our protest filed last week.
---------------------- Forwarded by Christi L Nicolay/HOU/ECT on 12/13/2000
10:34 AM ---------------------------

 - ERRATATO.WPD


The attached schedule is Wednesday, April 24.  Associated text files have been posted to Sparky.

Michael R. Frazier
Manager, Load Forecasting
Enron Energy Services
Office: 713-345-3200
Pager: 877-926-0615
P-mail: 8779260615@skytel.com


---------------------- Forwarded by Rob G Gay/NA/Enron on 01/11/2001 01:33 PM
---------------------------

"Boehm, Barbara" <bboeh@opic.gov> on 01/11/2001 01:52:39 PM
To: "'rob.g.gay@enron.com'" <rob.g.gay@enron.com>
cc:

Subject: Meeting next week

Rob
Tom will be traveling next week.  Is it possible to postpone our meeting
until the next week (1/22 or 1/23) so that he can attend, and to give Frank
more time to make arrangements to come over?
Barbara


Who drafted this agreement?

 -----Original Message-----
From: 	Osire, Ann
Sent:	Monday, August 20, 2001 3:17 PM
To:	'wayne.ellis@williams.com'
Cc:	Dickson, Stacy E.; Perlingiere, Debra; Osire, Ann
Subject:	Amendment to Master Firm Purchase/Sale Agreement (Barrett Resources Corporation)

Mr. Ellis,

Per our telephone conversation this afternoon, attached please find the above-referenced amendment that was originally forwarded to Bob Howard.   The amendment restates Section 5.1 Confirmation Letter Procedure

If in agreement, please print and execute two originals and forward same to the attention of Debra Perlingiere at the following address:

Enron North America Corp.
Legal Department, EB 3885
1400 Smith Street
Houston, Texas 77002

Would you also kindly fax a copy of same to my attention at fax# (713) 646-2495.

Debra will forward an original for your records upon final execution by Enron North America Corp.  Please do not hesitate to call me should you have any questions regarding the attached.

Thanks,

Ann Osire
(713) 345-3136

	 << File: Amendment to Barrett.doc >>


Attached please find the latest LV Cogen Turbine Agreement
(second document below), as well as a blackline (first document below)
showing changes made to the March 27 version. I have included Lee's
changes to the performance values in Sections 10.7 and 10.8  In addition
I have made changes to the Maximum Liability, Unit Liability and
Purchase Amounts and payment schedule. For the Guaranteed Delivery
dates, I have used the Ready to Ship Dates contained in the Agreement in
Principle.  To complete the agreement, we will need to insert the date
of execution and Exhibit H-2.
 <<DVComparison_WAS_86024_1-WAS_86024_2.DOC>>  <<LV Cogen Gas Turbine
Agreement.DOC>>
 - DVComparison_WAS_86024_1-WAS_86024_2.DOC
 - LV Cogen Gas Turbine Agreement.DOC


Ariba will be making a presentation to 1st year and graduating Haas students
this Monday at 12:30pm at the Faculty Club (box lunches included) in advance
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Rich Wong
Account Manager
Haas Career Center

And now for a word from Ariba ...................

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