Paul

Great help. Thanks.
Let's see how Ashley Brown reacts to those questions (we made some minor changes based on your comments)  We will get back to you.

Regards

LM

 -----Original Message-----
From: 	Dawson, Paul
Sent:	Wednesday, November 21, 2001 5:15 AM
To:	Dawson, Paul; Maurer, Luiz; Steffes, James D.; Nicolay, Christi L.; Stroup, Kerry
Subject:	RE: Draft - Questions to Ashley Brown

Sorry this was sent before I'd finished.  I was about to add that the list of questions looks good and I'd be happy to discuss further if required!

Cheers

Paul

 -----Original Message-----
From: 	Dawson, Paul
Sent:	21 November 2001 11:13
To:	Maurer, Luiz; Steffes, James D.; Nicolay, Christi L.; Stroup, Kerry
Subject:	RE: Draft - Questions to Ashley Brown

The state of transmission/transportation regulation here is continually evolving and a full treatment would qualify for an economics doctorate.  You should also be aware that not everything out of Ofgem (the UK regulator) makes sense.   Hence, while I've provided some answers to your specific questions below, I would see these only as broad guides to the issues you are facing in the US and would retain a healthy degree of scepticism about the lessons to be drawn from UK schemes.  In particular, I would caution against relying solely on the NGC incentives document, since this is only a small part of a much large jigsaw of price controls etc.

1) Do you think that the UK  for-profit Transco model has been working satisfactorily? We know it is still early for you to make a final judgement, but have the incentives and penalties shaped the way NG behaves (in terms of costs and elimination of T contraints)?

The for-profit model has worked reasonably well so far.  Both RPI-X regulation and NGC/Transco's incentive schemes have driven out many operating costs.  However, the link into ensuring long-term investment is not clear.  RPI-X in it's purest form has poor investment incentives.  Ofgem are seeking to remedy this by introducing longer-term contracts for transmission capacity, together with upside rates of return if the companies improve on some key output measures (they are leading the way on this in gas).  Nevertheless, I think they're still some way short of solving the problem.

In my view, this is because the problem borders on the insoluble.  Ofgem are obsessed with introducing "market based" signals for new investment.  I'm deeply sceptical about this - while you can auction fixed amounts of capacity and thereby get a "market price", the capacity made available at one location depends on the amount made available at all other locations.  In short, there are major network externalities which are the source of the natural monopoly in transmission.  As a result, the regulator and/or the Transco will always need to define how much capacity should be built and made available at particular locations.  In turn, this means that while contracts can play some role, we can't leave regulation behind in ensuring that sufficient network capacity is made availalble.

As far as the for-profit and non-profit debate goes, I'm an agnostic.  The former can undoubtedly focus the mind (NGC have virtually removed voltage constraint from the system, due to installation of reactive compensation equipment), but serious doubts still remain about the ability of the UK system to implement major new investment.  On the flip side, I would be concerned about how to ensure appropriate performance incentives for non-proift transmission organisation.

2) We took a good look a the NGC system operator price control and incentive schemes under NETA - Final Proposal - Dated December 2000 (attached) . Which of the alternative proposals on page 21 has been adopted?

The final proposals are here.

http://www.ofgas.gov.uk/docs2001/ngcmod_22march.pdf

These might be useful if you're having trouble sleeping, but I suspect that the finer details of NGC's scheme are too case-specific to be of any use elsewhere.  The key element, I think, is the fact that Ofgem gave NGC a choice from several different incentive schemes.  This mirrors some economic theory developed by Laffont and Tirole on the design of optimal incentive sctructures.  The idea is to overcome the information assymmetry between the regulator and company, because the company "reveals" the optimal structure in choosing between the alternatives.

3) Have the incentives/penalties system been working or have them been subject to reviews in terms of targes, upsides, collars, and other parameters due to external factors beyond Transco control?

The incentive schemes are subject to regular review, but for the reasons above, I'm not sure you can draw any lessons beyond the general lesson that incentive schemes can be useful ways of making efficiency gains.  I'm not aware of any scheme being reopened because of external factors.

4) Could you send us (or help us find) the "official"  Transmission Licence Agreement, where all incentives and penalties are clearly spelled out?

As above - but again, how relevant are these specifics for your purposes?

5) Question related to NETA rules:  As I understood, there is not a central pool, and market participants (generators and suppliers) have to submit a balanced schedule in the forward market. NG is responsible for [small] imbalances or residual purchasing. If that is true, how can NG be made accountable for energy deviations in the real time that it has no control whatsoever? (It seems that the incentive mechamism takes this metrics into account)

NGC accepts offers (for more generation or less demand) and bids (for less generation and more demand) which it calls off to balance the system in real time.  It doesn't need "control" because people are free to price these offers and bids as they see fit.  NGC can also enter balancing services contracts for particular ancillary services (reserve, reactive support etc).  NGC is subject to a balancing services incentive scheme which ensures that they balance the system economically.

6) Do you think the profit-RTO as proposed by NETA could live with a completely different congestion management system, such as central dispatch/LMP/financial rights (as current in used in the PJM pools in the US)?We have the impression that NG advocates a profit RTO and a self-dispatch, physical rights congestion system. We have been advocating the former.

I'm yet to be convinced that there are huge differences between physical/financial transmission schemes - despite noodling on the problem continuously for the last 7 years (it all started in CA in 1994 . . . . ).  At the end of the day, someone (the system operator) must decide what is required where to keep the system stable, ie, to make "spot" decisions on transmission availability.  If the capacity is fungible, you would also expect a secondary market to emerge in physical rights.  It would, however, be practically quite difficult to introduce an LMP scheme under NETA.  This is why we're moving down the entry-exit physical capacity route.

7) We prepared a list of questions to be sent to NG. Could you please take a look. Do they make sense? Are they based on correct assumptions regarding the UK system? Any other aspects to be investigated?

Question 3 is the main problem to resolve both within an RTO's region and between RTO's.  You might want to expand this further to include efficient investment, maintenance and operation in the light of the comments above about the deficiencies of the UK system.

LM

-----------------------------QUESTIONS TO ASHLEY BROWN - ALLIANCE/NG  RTO PROPOSAL ----------------------------

1) Profit-RTO - Where does your proposed organization fit  in the attached graph in terms of end state ? Stage III? Stage IV?

 << OLE Object: Microsoft PowerPoint Slide >>

2) Regarding document "Response of National Grid USA to questions posed by the Commission": Does it imply that core, for profit functions should not be subject to a stakeholder process? Wasn't the NETA design subject to an extensive
consultation, even for profit, NG core functions?

3) If each Transco manages it own OASIS, how can we avoid fragmentation (balkanization), pancaking and many other
negative aspects and seams that the RTO process is trying to eliminate? How can you achieve one-stop shopping? By outsourcing those functions to one singole  third party?

4) What kind of PBR mechanism are you envisioning for the Transco-RTO? Are you thinking about including "external" measures such as cost to provide ancillary services, congestion costs or costs incurred in energy balancing?

5) Are you envisioning an RTO-Transco model which will assume that all transmission assets in the region will be divested? Or can the model live with a "light" RTO where part of the assets are divested but others are not (and sign an operating agreement with the RTO. Would your proposed Matrix of RTO Functions (page 9) still be robust under this scenario?

6) Can your proposed RTO model dovetail with an LMP/Congestion Management system based on financial rights? [Our understanding is that NETA completely reorganized the UK pool. The UK system now looks like a "self-dispatch", physical rights model]

7) As a follow up of the previous question: Assuming Alliance adopts a self-dispatch, physical rights approach similar to the one NG operates in the UK today. Don't you think that this will create significant barriers/seams with other neighboring RTOs, considering that there seems to be a general trend towards security constrained dispatch, LMP and financial rights for most RTOs in the US?

8) If your proposed system can be dovetailed to a central dispatch, LMP/financial rights, shouldn't some functions in your "Martix of RTO Functions" be collapsed? For example: management of congestion prices, calculation of congestion, operations of energy markets and generation redispatch?

9) Procurement and deployment of ancillary services is listed as non-core. However, in the UK system, this represents a significant role of the Transco, with incentives and penalties attached to its achievement. Is there a different vision or do you assume that those functions will end up being developed by the RTO and consequently will be part of the PBR formula?

10) Generation interconnection. Obviously, your proposal did not go that far. Conceptually, do you favor a system whereby T fixed costs are recovered via a postage stamp rate across an entire region or do you favor the UK model whereby fixed costs (use of the system) are calculated based on incremental cost and have a strong locational component (and connection costs are treates separately, according to a shallow method?

11) Establishment of transmission rates. How to reconcile the fact that those should be regulated and you propose that the Transco itself will establish its T rates? Are you thinking about some possible non-regulated activities?

12) You stated that separation and control of T assets persists, to a large extent, in the Collaborative Model proposed as part of the Southeast Mediation. Do you think that the Independent System Administration model is superior in this regard? What are the key important differences in your view in the conceptual design of those models


Let O'Neal know if you will be in or out so that we can get some fillers.
PL

 -----Original Message-----
From: 	Winfree, O'Neal D.
Sent:	Friday, January 11, 2002 12:23 PM
To:	Love, Phillip M.
Subject:	Phil Let me know if this is ok

Gentlemen,

What:   		Let's play poker...

Where: 		The land of Pears

When:		Thursday, January 17th -- between 7-8 pm

Directions:	No key map so here goes

		288 South (please find 288 from Downtown)

		Exit McHard/Shadow Creek (hint: it's the first exit after the Beltway 8)

		Take a left onto McHard and proceed to the end of McHard

		There will be a Conoco at the first Stop sign, the next stop sign will say Country Place

		Proceed to the third stop Sign and take a left to The Lakes of Country Place

		Go to the Gurard's gate... You will visit 406 Starleaf

		Go thru the gate and Take a left on River Birch drive

		Starleaf will be the 3rd street on the right...

		My house is the 5th house on the left (in the cul de sac)...

		address 406 Starleaf	Pearland, Tx 77584
		phone: 713.436.2992	cell: 832.372.8000

O


Who is the labor lawyer that you guys use, and do they do plaintiff's work?
I've had a couple of people ask me for referrals, and I don't know what to
tell them.

Thanks,

Kay


Vince,

Included is the rest of the prices for 4th and 5th Generation
Semi-submersibles in the Gulf of Mexico.  The only additional Data is from
Sept 99 through Dec 99.

Chris and I look forward to your analysis on Tuesday.


----- Forwarded by Jeff Dasovich/NA/Enron on 12/20/2000 12:55 PM -----

	"Katie Kaplan" <kaplan@iepa.com>
	12/20/2000 12:27 PM
	Please respond to kaplan

		 To: "Douglas Kerner" <DKK@eslawfirm.com>, "Andy Brown" <ABB@eslawfirm.com>,
"B Brown Andy" <andybrwn@earthlink.net>, "Baker Carolyn"
<cabaker@duke-energy.com>, "Bob Weisenmiller" <rbw@mrwassoc.com>, "Curtis
Kebler" <curtis_l_kebler@reliantenergy.com>, "Greg Blue" <gtbl@dynegy.com>,
"Jan Smutny-Jones" <smutny@iepa.com>, "Jean Munoz"
<jmunoz@mcnallytemple.com>, "Jeff Dasovich" <Jeff.Dasovich@enron.com>, "Joe
Ronan" <joer@calpine.com>, "John Stout" <John_H_Stout@reliantenergy.com>,
"Julee Malinowski-Ball" <jmball@ns.net>, "Karen Edson" <kedson@ns.net>,
"Kassandra Gough" <kgough@calpine.com>, "Katie Kaplan" <kaplan@iepa.com>,
"kent Palmerton" <kent.palmerton@williams.com>, "Kristin Vellandi"
<kvellandi@pstrategies.com>, "Lynn Lednicky" <lale@dynegy.com>, "Marty
Wilson" <mwilson@pstrategies.com>, "McNally Ray"
<rmcnally@mcnallytemple.com>, "Norton Kelli" <knorton@mcnallytemple.com>,
"Paula Hall-Collins" <paula.hall-collins@williams.com>, "Pigott Jack"
<jackp@calpine.com>, "Richard Hyde" <rwhyde@duke-energy.com>, "Rob Lamkin"
<rllamkin@seiworldwide.com>, "Stephanie-Newell"
<stephanie-newell@reliantenergy.com>, "Sue Mara" <smara@enron.com>, "Tom
Ross" <tross@mcnallytemple.com>
		 cc: "Jan Smutny-Jones" <smutny@iepa.com>, "Carol H Hudson"
<Chudson@iepa.com>, "Steven Kelly" <steven@iepa.com>
		 Subject: Rosenfield exposes phony bankruptcy

Greetings:
This should be an interesting call.  I also have MTA working on how much
Edison and PG&E have spent each day on their print, radio, and TV ads.
Companies who have looming bankruptcies usually do not run daily
multi-million dollar ad campaigns.

Details:

TELECONFERENCE Harvey Rosenfield, NETTIE HOGE and Harry Snyder "warn against
phony bankruptcy threats, say legislature, Governor, PUC are getting
stampeded by Edison, PG&E"

1pm, 1-877-797-1770

Contact:  Doug Heller 310-392-0522 extension 309

Katie Kaplan
Manager of State Policy Affairs
Independent Energy Producers Association
(916) 448-9499


Everyone,

In an effort to protect our computing systems from viruses and other potential threats, we have disabled the ability to get to external e-mail sites (AOL, Yahoo, Hotmail, etc.) while you are using an Enron computer connected to our network.

If you are using a particular external e-mail site for valid business reasons and this action we have taken has impacted your business, you can contact your Resolution Center for assistance.  Each case will be analyzed for validity and exceptions granted based on business related needs.

Thank you for your understanding that protecting our revenue generating systems is our highest priority.

Enron Global Technology


Larry,
Here are your GD and FP pipe option trades.
I did not run any pivot tables b/c I did not know whether you wanted position or p&l.  Let me know if you want me to run pivots for you.

brad


----- Original Message -----


In referring to your  e mail to Ken Lay,  the reason  we   see total  US  gas
storage volumes BY month in 2000  decrease  by    .200 TCF  to  .400 TCF
below   the levels by month  in 1999 is due to  the following  reasons:

A.  STORAGE  COSTS   Putting  gas into storage for  a  several month period
typically costs  50 cents  to  $1.00 per  MCF or more;

B.  GAS COSTS   This cost  becomes  too  high to  put  gas into storage
when average  U.S.  prices  start rising because  the  need  to USE  the gas
itself,  not store  it,   becomes  greater than the need  to put it into
storage and pay storage  costs   for  future  needs.

For  example    at  $2.00 plus  50 cents  or   $1.00 for heat season storage
this cost combination is typically economic;   but  the situation becomes
cost prohibitive  when demand in the market for gas  is  so great to USE it
that it moves  the price  to   $3.00  or more  or as high as   $4.60  --  to
which  one would  then also have to  add   50 cents or  another dollar to
store it.

  TOTAL  GAS IN STORAGE  Source:  Table 10  US DOE EIA November 2000;  Gas
Prices  per  Table   4

APRIL 1999 5.876 TCF             $1.86 MCF US  Avg Gas  Wellhead Price
MAY  6.206     2.16
JUNE  6.519     2.12
JULY  6.749     2.18
AUG  6.978     2.49
SEP  7.292     2.61
0CT  7.443     2.50
NOV  7.445     2.67
DEC  6.906       2.20

JAN 2000 6.088   $ 2.12
FEB  5.672     2.30
MAR  5.514     2.36
APR  5.547     2.55
MAY  5.782     2.90
JUNE  6.061     3.73
JULY  6.351     3.70
AUG  6.544     3.67
SEP  6.827     4.26
OCT  7.072     4.61
NOV  6.779

Per  Table   3,   U.S.  gas  consumption  rose  .500 TCF  in year 2000
versus   1999;  but  additional supply from US and Canada  Table   2,     was
just  .100 TCF  so   to meet  the market  demand    .400 TCF  of  gas had to
come  out of  storage.
Hope  this helps clarify.  You can see these  reports on the  DOE   web
site   at   www.eia.doe.gov  and click on Natural Gas Monthly Statistics.
Regards,  M  Carson  Enron Competitive  Analysis


Mark -

Attached for your review and comment is a proposed initial welcome statement
for the web site.  This statement can either appear on the home page or
within the "What's New" area.  I anticipate keeping some welcome message on
the site at all time, but updating it as necessary to reflect the current
status of the site and the information in the site.

The logo at the top is what PR and the IT design team have developed and
indicated meets current Enron site branding requirements.  The slogan -
Providing Innovative Legal Solutions - was agreed to by the Team as a means
of further marketing ourselves through the site.  It is anticipated the
slogan will be on every page as a continuous message of our commitment to the
business groups.  We have spoken to Peter Mims at V&E about the use of the
logo and requested he inquire whether or not there is a comparable external
use that we need to be aware of.  If not, we have asked if it is possible to
reserve the name and possibly trademark it for our use.

When you have a chance, please take a look at the attached.  I welcome any
and all comments.

Mark
Senior Counsel, ENA
Phone:     713-345-8897
Facsimile: 713-646-3940
E-Mail:      Mark.Greenberg@enron.com


Thank you.
Nurit

***********************************************************************
Nurit Krausz, Ph.D.               http://www.ma.utexas.edu/users/nurit/
Dept. of Mathematics              Phone: (512) 471-7170
University of Texas at Austin     Office: RLM 11.170  Hours:MWF 8:30-10
***********************************************************************

On Thu, 2 Mar 2000, Vince J Kaminski wrote:

>
>
> Nurit,
>
> We shall schedule a phone interview for you sometimes next week.
> My assistant, Shirley Crenshaw (713 853 5290), will call you to discuss the
> timing.
>
> Vince Kaminski
>
>
>
>
>
>
> Nurit Krausz <nurit@fireant.ma.utexas.edu> on 03/01/2000 10:44:00 AM
>
> To:   Vince J Kaminski/HOU/ECT@ECT
> cc:   Nurit Krausz <nurit@fireant.ma.utexas.edu>
> Subject:  Job application
>
>
>
>
> Dear Dr. Kaminski,
>
> I currently hold a post-doctorate position in the Mathematics
> Department at the University of Texas at Austin (with a Ph.D.
> in theoretical physics). Although my position here is renewable
> until summer 2001, I would like to move on to a more dynamic field
> where I can still use my analytical skills and mathematical knowledge.
> Since attending a series of lectures on mathematical finance given
> by Dr. Marc Potters last summer I started studying the subject on my
> own and found it intriguing and challenging.
>
> I am interested in a position in your group (RAC) at Enron.
> Last fall in a Career seminar at UT you mentioned that people who are
> interested can send you their resume. If this is still relevant, please
> find below my resume (in Word 97 and text formats).
> Thank you for your time.
>
> Yours,
> Nurit Krausz
>
> ***********************************************************************
> Nurit Krausz, Ph.D.               http://www.ma.utexas.edu/users/nurit/
> Dept. of Mathematics              Phone: (512) 471-7170
> University of Texas at Austin     Office: RLM 11.170  Hours:MWF 8:30-10
> ***********************************************************************
>
> RESUME
>
> Nurit Krausz
> University of Texas
> Department of Mathematics
> Austin, TX 78712
> Phone: (512) 471-7170
> E-mail: nurit@math.utexas.edu
> http://rene.ma.utexas.edu/users/nurit/
>
> Objective
>
> A position in the field of mathematical finance utilizing broad
> mathematical knowledge, innovative thinking and creativity.
>
> Summary of Qualifications
>
> With extensive academic background and research experience,
> combined with experience as an engineer in the Israeli Air Force,
> I possess the following:
> * Deep mathematical and scientific knowledge.
> * Strong analytical and problem-solving skills.
> * Proven ability to quickly become an expert in new subjects.
> * Ability to present clearly and effectively complicated subjects.
> * Ability to work productively both independently and in teams.
>
> Academic Positions
>
> 1998-present: Post-doctorate position at the University of Texas
> at Austin, Department of Mathematics.
>
> Education
>
> 1994-1998: D.Sc. in Physics at the Technion - Israel Inst. of Tech.
> Research Thesis: Quantum Dynamics on Non-compact Group Manifolds.
> Supervisor: Prof. M. Marinov.
>
> 1992-1994: M.Sc. in Physics at the Technion - Israel Inst. of Tech.
> Research Thesis: A Study of Scintillation in Doped Silica Glass
> for Detection of Neutrino Oscillation.
> Supervisor: Prof. J. Goldberg.
> The experiments were performed at CERN during the summer of 1993.
> * Performed the design, testing, and installation of the experimental
>   setup from remote-controlled mechanical equipment to sophisticated
>   electronics.
> * Performed statistical data analysis and critical interpretation of
>   results using software developed at CERN (PAW).
> * Solved a complicated problem of track reconstruction through an
>   unusually shaped magnet for the CHORUS collaboration at CERN, and
>   delivered a computer code ready for implementation, still in use
>   today.
>
> 1985-1989: B.Sc. in Aeronautical Engineering Cum Laude at the
> Technion - Israel Institute of Technology.
>
> Military Service
>
> 1989-1992: Aeronautic design engineer in the Israeli Air Force.
> Rank: First Lieutenant.
> * Designed and supervised numerous prototype installations of
>   electronic equipment and changes in combat planes.
> * Wrote procedures for harsh environmental durability tests for cockpit
>   and avionics bay-mounted equipment.
> * Negotiated and supervised manufacturing of parts with contractors.
> * Attended Project Management, Engineering and Product Reliability
>   and Maintenance courses.
> * Programmed simulations of ammunition trajectories from moving
>   aircrafts.
>
> Teaching Experience:
>
> 1998-present: Lecturer at the University of Texas
> Undergraduate courses: Precalculus, Calculus, Linear Algebra
> Graduate course: Theory of Lie Groups
>
> 1992-1997 Physics Department, Technion, Teaching Assistant
> Undergraduate course: Elementary Lab in Mechanics
> Graduate courses: Group Theory for Physics,
> Introduction to Particle Physics, Relativistic Quantum Mechanics.
>
> Computer knowledge:
>
> UNIX and Windows OS, most common word processors, Excel,
> MAPLE, MATHEMATICA, FORTRAN, HTML, LaTeX.
>
> Publications:
>
> 1. J. Goldberg and N. Krausz, Response of Cerium-Doped Silica Glass
>    in a beam at CERN, Proceedings of the SCIFI conference, Notre Dame
>    University, Notre Dame, Indiana (1993).
> 2. N. Krausz and M. S. Marinov, Quantal Dynamics on Non-compact
>    Groups, Proceedings of the 5th International Wigner Symposium,
>    World Scientific (1998), 398.
> 3. N. Krausz and M. S. Marinov, Exact evolution operator on
>    Non-Compact Group Manifolds, quant-ph/9709050,
>    submitted to J. of Math. Phys.
> 4. N. Krausz, Spherical averages in Minkowski space, In preparation.
> 5. N. Krausz, Quantum Field Theory in Minkowski space, In preparation.
>
>
>


corporate policy?
----- Forwarded by Steven J Kean/NA/Enron on 02/07/2001 08:21 AM -----

	Mark Schroeder@ECT
	02/05/2001 05:34 AM

		 To: Tom Briggs/NA/Enron@Enron
		 cc: Wolfgang Skribot/LON/ECT@ECT, Steven J Kean/NA/Enron@Enron
		 Subject: Iraqui - Oil for food

Wolfgang- I am asking Tom Briggs to bottom this out with OFffice of Froeign
Assets Control, or US State Department Sanctions people, and asking Steve
Kean is there is any corporate policy regarding purchase of Iraqi oil under
UN authorised program.   thansk  mcs---------------------- Forwarded by Mark
Schroeder/LON/ECT on 05/02/2001 11:37 ---------------------------

Wolfgang Skribot
05/02/2001 11:09
To: Mark Schroeder/LON/ECT@ECT
cc: Jarek Astramowicz/WAR/ECT@ECT, Richard Creitzman/MOS/ECT@ECT

Subject: Iraqui - Oil for food

Mark:

I am looking at a proposal, under which a Russian oil-major would be wishing
to sell Iraqui crude to us, coming from the UN oil-for-food program. I would
be interested to learn, whether Enron can purchase crude oil from this
program (provided that we receive proof that it comes out of the UN program)
and whether we are willing to do it (corporate policy).

I want to check that out first, before going forward. Next step would be to
receive a good level of confidence that the offer is genuine, and then I
would talk to the liquids traders.

Best regards,
Wolfgang


Hi Tana,

I know that you are expecting to get back to me next Wednesday but our
traders faced credit issues with Enron today and they asked me to push
forward the process of getting all agreements in place as soon as. Thus, I
am sending you a draft of a restated and amended guaranty agreement hoping
that this will help to speed up the process. I will call you on Monday.

 <<HQ@epmi_$30M.doc>>

 H,lSne Cossette
 ConseillSre Contrats Commerciaux
 *  (514) 289-6720
 *  514) 289-6722
 *  cossette.helene@hydro.qc.ca
 * A
 75 Ren, L,vesque Boulevard West, 18th floor
 Montr,al, Qu,bec, H2Z 1A4

 - HQ@epmi_$30M.doc


As you may be aware, Enron Corp. is a member of the Official Unsecured
Creditors' Committee appointed in the Pacific Gas and Electric Company
bankruptcy case. Michael Tribolet with the Risk Assessment and Control Group
is Enron's designated representative on the committee and he is being
assisted by Lisa Mellencamp in the Enron North America Corp. legal group.
Please be advised that they will be restricted from disclosing certain of the
information that they receive.

Attached are Ethical Wall Procedures regarding confidential information that
Enron may receive as a member of the committee. It is important that you read
the procedures promptly, print the Employee Certification attached and sign
and return the Employee Certification to the Compliance Department as
directed.


I hope you were only thinking good things!
I had a pretty good weekend.  I got to see my extended family in Fairfield.
Did you ever meet my cousin Chuck and his wife Shelley?  They have the cutest
kids (Becca and Cullen).  So, I spent a lot of time with them.  I had fun at
your birthday party!  When do I get to take you to PF's for lunch?

Danielle Samson <DanielleS@JonesGranger.com> on 02/07/2000 06:44:38 AM
To: "'Eric Bass'" <Eric.Bass@enron.com>
cc:
Subject: RE:

Yes I did.  I was just thinking about you.  I'm really glad you showed up.
I'm also sorry to hear about your grandma.  I will keep her in my prayers.
I had a fun and relaxing weekend, and I'm really glad you were a part of it
:-).  Did you have fun?

  -----Original Message-----
  From: Eric Bass [mailto:Eric.Bass@enron.com]
  Sent: Monday, February 07, 2000 11:12 AM
  To: danielles@jonesgranger.com
  Subject:

  did you have a good birthday weekend?


Pete,

This "bug" initiates as we roll into the new day, as for the exact time...we
will have to watch closely and get back to you on that.  The bug  or false
finals are an exact duplicate of the previous days finals for that schedule.
If the current day has a null value for HE 24, no new final will overwrite
the bug or false final.  Consequently we are left with false finals that have
absolutely no relation to anything that occurred on the current day.  Going
forward, we will do our best to document the occurence of these false
finals.
This bug is annoying and time consuming, but if recognized it seems that our
best course of action is to run the report, identify the false finals as the
variance, and then give you a call to manually change the values in CAPS so
that it will archive properly.  Any more feedback you have concerning this
bug would be appreciated.

Thank you for your help.

Bill


Could one of you please extend deal # 151203 for meter 1595?  This deal
expired 12/31/99.

Thanks.

Aimee
---------------------- Forwarded by Aimee Lannou/HOU/ECT on 03/06/2000 02:45
PM ---------------------------

	Enron North America Corp.

	From:  Karen Lindley @ ENRON                           03/06/2000 09:58 AM

To: Aimee Lannou/HOU/ECT@ECT
cc:
Subject: Feedback Error - 1/00

Aimee,

There is a feedback error on swing meter 981595, deal number 151203 for
January 2000.  POPS and MOPS systems match, however in checking in Sitara,
the deal number attached expired 12/31/99.

I am not sure you are the correct person to address this with, if not, please
let me know.  If you can fix this problem, please do so and let me know.

Thanks and let me know if you need any addtional data as well.

Karen
X58381


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 12/08/2000
07:11 PM ---------------------------

"Btu" <subs@Btu.net> on 12/08/2000 05:01:29 PM
To: "Btu's Weekly Power Report" <>
cc:
Subject: Btu's Weekly Power Report

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

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

 - wp121100.pdf


Thanks Bob.  I feel a lot better, particulary since the year end documents
won't have to have all the detail.  DF

	From:  Bob Chandler                           12/11/2000 11:48 AM

To: Drew Fossum/ET&S/Enron@ENRON
cc: Rod Hayslett/FGT/Enron@ENRON, Dave Neubauer/ET&S/Enron@ENRON, Steven
Harris/ET&S/Enron@Enron, Mary Kay Miller/ET&S/Enron@ENRON, James
Saunders/FGT/Enron@Enron, Dan Fancler/ET&S/Enron@Enron, Harry
Walters/ET&S/Enron@Enron

Subject: Re: Quarterly Noteholder Reports

Thanks for your comments below.

We consulted our AA folks in drafting the disclosures.  It wasn't a big deal
for Enron's 10Q because the positions between NNG and TW are eliminated in
the consolidated statements.  As for the Form 2 and the Brown Covers, there
are specific GAAP disclosure requirements that we have to include on a
stand-alone basis.  Since most of these positions will be gone by year end,
it won't look nearly as massive as it was at the end of the third quarter.
In fact, if Roger Willard had given us his final word about the transactions
in time, we would have booked the ultimate net transactions in September and
we wouldn't have had all these gross positions.  I don't feel quite as bad
about not getting it right in the unaudited third quarter financials as I
otherwise would, since we did review the transactions and the noteholders
disclosures with AA before the 3rd quarter was released and before the
noteholders reports were distributed.

As always, Legal and Regulatory will have ample opportunity to comment on
Brown Cover and Form 2 disclosures before they are finalized.

	From:  Drew Fossum                           12/11/2000 10:59 AM

To: Bob Chandler/ET&S/Enron@ENRON
cc: Rod Hayslett/FGT/Enron@ENRON, Dave Neubauer/ET&S/Enron@ENRON, Steven
Harris/ET&S/Enron@Enron, Mary Kay Miller/ET&S/Enron@ENRON

Subject: Quarterly Noteholder Reports

I've reviewed the draft NN and TW quarterly reports to noteholders.  I
haven't had a chance to compare these to prior quarterly filings, but I have
three questions/concerns.  First, the discussions of "Price Risk Management
Activities" seem overly detailed and cumbersome given the true commercial
impact of the deals involved.  For example, we disclose the total notional
amount of gas involved in the Transcanada deal, the "fair value" of the
trades, and a variety of  other details, even the total economic impact of
the deal to us is pretty small (about a million dollars if I remember
right).  The base gas deal, by comparison, was discussed in one sentence.
Can we avoid making the thing look bigger than it really is by disclosing
something more meaningful like VAR (which I assume would be a much smaller
number)?  Second, disclosing TW and NN trading activity separately makes the
Transcanada deal look like a bigger thing than it really was, since the TW
and NN portions offset one another.  I know we need to disclose deals
separately for each operating company, but is there a way things like
notional value and "fair value" (or VAR) can be aggregated to more accurately
reflect the total impact of the deal--currently it looks like both TW and NN
were out doing huge commodity deals.  Third, I have never been that concerned
about overly broad disclosures in the noteholder reports because of the
limited distribution.   However, if these disclosures will be Arthur
Anderson's template for the Enron Corp. 10Q or the FERC Form 2s, I have a
real problem.

Please let me know if I can be of help in talking through these issues.  DF


please note.  this is serious, and I want it taken care of.
---------------------- Forwarded by Jeffrey A Shankman/HOU/ECT on 12/18/2000
12:59 PM ---------------------------

Daniel Diamond
12/18/2000 11:59 AM
To: Jeffrey A Shankman/HOU/ECT@ECT
cc: Bob Shults/HOU/ECT@ECT, Beth Cowan/NA/Enron@Enron, Jennifer
McQuade/NA/Enron@Enron
Subject: EnronOnline

Jeff,
The main problem that our customers are identifying is that the products are
randomly put on EnronOnline.  Unfortunately, this pushes our customers to
other systems that are consistently showing numbers (such as Altrade's
Chalkboard).  Here are some comments that Jennifer McQuade and Beth Cowan
have received over the past two weeks:

NGL products (Jennifer McQuade):
Products that come on and off-line throughout the day (or sometimes are never
put out all day): Natural Gasoline (physical only), Normal Butane, Purity
Ethane and Physical Conway Propane (Craig Story).  These products are less
liquid and the traders (Wade Hicks- physical, Adam Gross-financial) find it
difficult  to keep the products out all day.  However, Chalkboard (which has
the LPG on-line market share) consistently has 4-5 postings in each of these
products.  Companies that have commented on this include Dynegy, Gulfsream
Trading, Huntsman Petrochemicals, and Taylor Gas Liquids.
Lately, when one of the traders is out of the office, his products are not
being posted (i.e. 12/14 Wade Hicks was out of the office and there were no
physical Mt. Belvieu products).
The product details say these market are open from 7:00 am to 4:00 pm, but
the products often don't come on until 8/8:30 and are often gone shortly
after 2:00 pm.

Crude/Products (Beth Cowan):
Beth spoke with Kirk Kinnear at Hess Energy Trading Company LLC (2nd largest
crude counterparty).  Kirk commented that we are posting various products but
the hours that they trade are not consistent - he compares EOL to other
exchanges where the numbers are up all day long.  J
John Brewer at Occidental Energy Marketing said, "we are interested mostly in
the PT market & West Texas but weren't seeing many quotes out there so I quit
looking at it."
US WTI Cal swap - should be online until 3:30 central - Rob Fuller
US WTI Index products - should be onine until 3 - Rob Fuller
US WTI Basis Products - should be online until 6 - Rob Fuller


Hello everyone,

	More upsets in the college and pro games this week sent most people into double digit incorrect picks this week. Most people missed the Washington St/Stanford game won by Washington St; most people missed the Kansas St/Texas Tech game, won by Texas Tech; most people missed the South Carolina/Arkansas game won by Arkansas; and everyone missed the Florida/Auburn game won by Auburn. The Texas A&M/Colorado game was missed by a fair amount of people as well.

	 In the pros, quite a few people picked Baltimore to beat Green Bay, but Green Bay won; also Kansas City was picked by some people to beat Pittsburgh, however, the Steelers won; San Diego was picked by many people to beat the Patriots, however, New England won again; the Miami/Jets and Denver/Seattle games were missed by most people and even the Oakland/Indy game was commonly missed as well.

	Through all that, I managed to get only 7 games wrong; Stanford, Kansas St, Florida, San Diego, Miami, Denver and Indianapolis. I am in the lead currently with 7 missed games with Dallas tonight, while 2 people missed 8 games with Washington tonight. The other 2 people still alive tonight are Steve Pan and Daniel Muschar. If Dallas wins tonight, I will win outright, if Washington wins, then it will come down to total points scored. I picked 31 total points, Steve picked 35 and Daniel 37. Therefore, I will win with 32 or fewer pts scored, Steve and I will split with Washington and 33 pts. and Steve will win with 34-35 points scored and tie with 36 pts. Daniel will win with Washington and 37 or more total points scored.

	I came in a close second place last week to Joe Step. My picks were given as always to Todd or Dave on Friday for verification. There were a record 34 people in the pool this week, therefore the prize is $68.

	This coming week and next week there is a pro game on Thursday night because of the baseball playoffs. Therefore, I will hand out the pools this week and next week on Tuesday and they will be due before I leave on THURSDAY afternoon. Finally, here are the results of this past weekend's picks with the number missed by each person after their name.

										Andy

Andy Pace		7
Daniel Muschar		8
Steve Pan		8
Jason Kaniss		8
Paul Broderick		8
Rick Broussard		8
Bryce Schneider	9
Joe Step		9
Pat Hanse		9
Larry Campbell		9
Todd DeCook		9
Joe Brewer		10
Joe Quenet		10
Valerie Ramsower	10
Ryan Williams		10
Russell Ballato		10
Michele Wilks		10
Reagan Mathews	10
Miguel Garcia		11
Rob Benson		11
Paul Thomas		11
Jaime Gualy		11
Dean Laurent		11
Dave Ryan		11
Larry Jester		11
J.D. Kinser		11
Rudy Acevedo		11
Kevin Cline		11
Mike Roan		11
Thomas Lowell		12
Carter Ellis		12
Gerald Gilbert		12
Don Baughman		12
Mike Grubbs		12


Jeff,

A 10 year fixed price indication at the PG&E City Gate out of Jan. 02 is approximately $3.32.  I hope this is helpful.  Let me know how I can help facilitate the blend with Merced.

Let me know if there is any thing else that you need.

thanks,

Kim

 -----Original Message-----
From: 	Jeff Fuller <JFuller@prmllp.com>@ENRON
Sent:	Friday, October 12, 2001 10:09 AM
To:	Ward, Kim S (Houston)
Cc:	'Garith Krause'; 'Roy Price'
Subject:	FW: Forward Natural gas and Electric Costs

Kim,  can you help Merced out with a 10-year PG&E city-gate price assuming a  1/1/2002 start (see message below).  I'll get them the electricity  price.  Indicative price is fine.  We are not going to  transact.

Got  your message too about gas prices moving up.  We are still looking at the  blend/extend versus an outright swap of the last almost 3 years.  I'll be  in touch.

Thanks  for your help.

Jeff

-----Original Message-----
From: Roy Price  [mailto:rprice@elite.net]
Sent: Friday, October 12, 2001 8:07  AM
To: JFuller@prmllp.com
Cc: Garith Krause
Subject: Forward Natural gas and Electric  Costs
Jeff:

Do you  have on hand data on natural gas futures for 10 years
and  Electric Prices projected for 10 years.
If  Available we can use them this morning.   I know the lead time
Is short  but would appreciate any help you can  provide.

Thanks

Roy


I will be out of the office from 3/15 thru 3/25 on vacation. If you have any
questions Mike Olsen ext - 35796 will be the point person. My desk will be
handle by:

Bob C. 3-6101  BMAR
   Create and send noms
   Bridge Back - HPL / HPL & ENA

Mike 3-5796  Carhtage Hub
   Devon
   BMAR (Back up)
   HPL POOLS
   BP - AMOCO
   CENTANA (storage & HPL meter 7001)

Tom A  3-6224  TUFCO
   Path HPL / ENA


FYI.
-----Original Message-----
From: Bev Hansen [mailto:bhansen@lhom.com]
Sent: Thursday, October 25, 2001 11:52 AM
To: Dasovich, Jeff
Subject: Fw: SBE Adopts Revised Rule 905

----- Original Message -----
From: Chris Micheli <mailto:cmicheli@carpentersnodgrass.com>
To: Peter Michaels <mailto:pmichaels@cwclaw.com> ; Hal Kessler <mailto:hal.s.kessler@us.andersen.com> ; Rina Venturini <mailto:rventurini@teamgsi.net> ; Mohammed Alrai <mailto:mohammeda@calpine.com> ; Mike Monagan <mailto:mrmonagan@aol.com> ; Kent Robertson <mailto:kentr@calpine.com> ; Katherine Potter <mailto:katherip@calpine.com> ; Kassandra Gough <mailto:kgough@calpine.com> ; Juan Rodriguez <mailto:juanr@calpine.com> ; Joe Ronan <mailto:joer@calpine.com> ; Jack Pigott <mailto:jackp@calpine.com> ; Eileen Koch <mailto:eileenk@calpine.com> ; Bill Highlander <mailto:highlander@calpine.com> ; Barbara LeVake <mailto:blevake@syix.com> ; Aymee Ramos <mailto:aymeer@calpine.com> ; Theo Pahos <mailto:theo.pahos@mirant.com> ; Steve Ponder <mailto:steve_ponder@fpl.com> ; Stephanie Newell <mailto:stephanie-newell@reliantenergy.com> ; Scott Sadler <mailto:ssadler@reliant.com> ; Scott Govenar <mailto:sgovenar@govadv.com> ; Ron Tom <mailto:rtom@govadv.com> ; Richard Hyde <mailto:rwhyde@duke-energy.com> ; Pete Conaty <mailto:pcaceo@pacbell.net> ; Paula Soos <mailto:psoos@covantaenergy.com> ; Julee Ball <mailto:jmball@ns.net> ; John Norwood <mailto:janorwood@norped.com> ; Chuck Cole <mailto:ccole@advocation-inc.com> ; Carolyn McIntyre <mailto:cmcintyre@sempra.com> ; Bev Hansen <mailto:bhansen@lhom.com> ; Carl London <mailto:clondon@rosekindel.com> ; Thomas McMorrow <mailto:tmcmorrow@manatt.com> ; Susan McCabe <mailto:smccabe@mccabeandcompany.net> ; Steven Kelley <mailto:steven@iepa.com> ; Roger Pelote <mailto:roger.pelote@williams.com> ; Robert Ross <mailto:robbiz@cwo.com> ; Rachel King <mailto:rachel.king@elpaso.com> ; Phil Isenberg <mailto:isenberg@hmot.com> ; Maureen O'Haren <mailto:oharen@hmot.com> ; Lynn Lednicky <mailto:lale@dynegy.com> ; Kent Palmerton <mailto:kent.palmerton@williams.com> ; Katie Kaplan <mailto:kaplan@iepa.com> ; John Stout <mailto:john_h_stout@reliantenergy.com> ; John Larrea <mailto:john.g.larrea@williams.com> ; Jean Munoz <mailto:jmunoz@mcnallytemple.com> ; Jan Smutny Jones <mailto:smutny@iepa.com> ; Hedy Govenar <mailto:hgovenar@govadv.com> ; Greg Blue <mailto:gtbl@dynegy.com> ; Delaney Hunter <mailto:dhunter@s-k-w.com> ; David Peters <mailto:dpeters@mccabeandcompany.net> ; Anne Kelly <mailto:kelly@hnks.com> ; Andy Brown <mailto:abb@eslawfirm.com> ; Will Brown <mailto:wbrown@lhom.com> ; Teresa Casazza <mailto:teresa_casazza@aeanet.org> ; Ron Roach <mailto:ron@caltax.org> ; Rex Hime <mailto:rexhime@cbpa.com> ; Matt Sutton <mailto:matthew_sutton@aeanet.org> ; Lorraine Albrecht <mailto:laac@pge.com> ; Lisa Frank <mailto:laf@ka-pow.com> ; Lance Hastings <mailto:lhastings@cagrocers.com> ; LaJune Bush <mailto:lajunebush@aol.com> ; Jot Condie <mailto:jcondie@calrest.org> ; Joe Ackler <mailto:ackler@ix.netcom.com> ; Jim Lites <mailto:jlites@schottinc.com> ; James Clark <mailto:jclark@calbankers.com> ; Greg Turner <mailto:greg@caltax.org> ; Gina Rodriquez <mailto:gina.rodriquez@spidell.com> ; George Miller <mailto:gmiller@lhom.com> ; Gavin McHugh <mailto:gmchugh@ix.netcom.com> ; Fred Taugher <mailto:fred@ppallc.com> ; Fred Pownall <mailto:fpownall@ka-pow.com> ; Fred Main <mailto:fred.main@calchamber.com> ; Eric Miethke <mailto:emiethke@ix.netcom.com> ; David R Doerr <mailto:dave@caltax.org> ; David Nagler <mailto:nagler@gene.com> ; Charles T Halnan <mailto:chalnan@ns.net> ; Carolyn J. Veal-Hunter <mailto:vealhunter@att.com> ; Brian Maas <mailto:bmaas@calbankers.com> ; Barry Brokaw <mailto:bsbsacadvo@msn.com> ; Amy E. Garrett <mailto:amy_garrett@car.org>
Sent: Wednesday, October 24, 2001 4:05 PM
Subject: SBE Adopts Revised Rule 905

The State Board of Equalization (SBE) earlier today voted 3-1 to adopt a revised Rule 905, to go to state assessment of power plants.  They adopted the staff recommendation, but changed the effective date to January 1, 2003.  This is being done in an effort to "push the Legislature to act on AB 81 (Migden)."  The motion was made by Controller Connell and SBE Members Chiang and Klehs voted in support.  Parrish abstained, while Andal voted no.

Chris Micheli, Esq.
Carpenter Snodgrass & Associates
1201 K Street, Suite 710
Sacramento, CA  95814
(916) 447-2251
FAX: (916) 445-5624
EMAIL: cmicheli@carpentersnodgrass.com <mailto:cmicheli@carpentersnodgrass.com>


----- Forwarded by Mark Taylor/HOU/ECT on 08/16/2000 08:47 PM -----

	MDunn1@milbank.com
	08/15/2000 08:51 PM

		 To: amanda.angelini@ssmb.com, rick.caplan@ssmb.com, steve.incontro@ssmb.com,
doug.mcdowell@enron.com, craig.clark@enron.com, ryan.siurek@enron.com,
gareth.bahlmann@enron.com, clint.walden@enron.com, kevin.d.jordan@enron.com,
mark.taylor@enron.com, carol.stclair@enron.com, brent.vasconcellos@enron.com,
annmarie.tiller@enron.com, Kimberly.r.Scardino@us.arthurandersen.com,
Fcochran@velaw.com, acurry@velaw.com
		 cc: FPuleo@milbank.com, EMoser@milbank.com, MMottesi@milbank.com,
JFalzon@milbank.com, MDunn1@milbank.com
		 Subject: Delta III Documents - Amendments to Delta Notes and Forms of Cons
ent Thereto

??????? Please find attached, for your review, Amendments to each of the
currently outstanding Delta Notes, together with forms of Consent to such
Amendments. These Amendments are needed in order to ensure that the Delta III
transaction does not violate the negative covenants of the oustanding Delta
Notes. Note that I have also attached a blacklined document with respect to
each Amendment (the current version blacklined against a composite document)
in order to highlight the alterations made to the definitions in each of the
Delta Notes.

??????? Please note that these documents remain subject to further internal
review.? The Remainder of the Delta III documents will follow.

??????? Please direct questions or comments regarding the attached documents
to Mike Dunn at (212) 530-5435.? Best Regards.

 <<Yosemite III - Delta - Citibank Consent to Amendment No. 1 to Delta Note
2.DOC>>   <<Yosemite III - Delta - Citibank Consent to Amendment of Delta
Note 1.DOC>>   <<Yosemite III - Amendment No. 1 to Delta Note dated
2232000.DOC>>

? <<Yosemite III - Amendment No. 2 to Delta Note dated November 18,
1999.DOC>> ?????  << Yosemite III - (Blackline)Amendment No. 2 to Delta Note
dated 11.18.1999.rtf>> ????????  <<Yosemite III - (Blackline) Amendment No. 1
to Delta Note dated 2.23.2000.rtf>>

This e-mail message may contain legally privileged and/or confidential
information. If you are not the intended recipient(s), or the employee
or agent responsible for delivery of this message to the intended
recipient(s), you are hereby notified that any dissemination,
distribution or copying of this e-mail message is strictly prohibited.
If you have received this message in error, please immediately notify
the sender and delete this e-mail message from your computer.

 - Yosemite III - Delta - Citibank Consent to Amendment No. 1 to Delta Note
2.DOC
 - Yosemite III - Delta - Citibank Consent to Amendment of Delta Note 1.DOC
 - Yosemite III - Amendment No. 1 to Delta Note dated 2232000.DOC
 - Yosemite III - Amendment No. 2 to Delta Note dated November 18, 1999.DOC
 -  Yosemite III - (Blackline)Amendment No. 2 to Delta Note dated
11.18.1999.rtf
 - Yosemite III - (Blackline) Amendment No. 1 to Delta Note dated
2.23.2000.rtf


Please review and get back to me asap.

Rod Hayslett
EB4054
713-853-6178


All LIM MIMIC & Excel Add-in Users within Enron,

            This past week LIM software was upgraded to reflect LIM latest versions.  If you are experiencing problems with MIMIC or the XMIM Excel Addin, please restart your machine for the latest changes to take effect, then follow the instructions for your specific application.

        MIMIC:

                   Under Start > Programs > Business Applications > LIM, Use the latest MIMIC version which is MIMIC 1.2.7

        Excel Addin:

                    Please reinstall your add-in, running the XMIM Excel User (installation) under Start > Programs > Business Applications > LIM

If problems persist, please contact the Enron - LIM Helpdesk at extension 33923 or 713-853-3923.


eSource presents Lexis-Nexis training

ADVANCED

This session will cover advanced searching tips.  It will also cover using
Smart Indexing to narrow your search results.  Find out how to customize your
desktop for easier searching.

Attend our Lexis-Nexis Advanced Clinic:

May. 18     8:30 - 10:00 AM    EB572

PUBLIC RECORDS

Lexis-Nexis is the premier provider of public record information.  We will
learn about materials available to you including Secretary of State Filings
and DBA's, UCC filings, Bankruptcies, and Property Records.  If you are doing
due diligence on companies, especially smaller ones, this is a session you
will want
to attend.

Attend our Lexis-Nexis Public Records Clinic:

May. 18    10:30 AM -12:00 NOON      EB572

Seats fill up fast! To reserve a seat, please call Stephanie E. Taylor at
5-7928
Cost $25.00 Per Person
No Shows will be charged $50.00
* Please bring your Lexis-Nexis login ID and password. If you don't have one,
a guest ID will be provided.

Check the eSource training page at http://esource.enron.com/training.doc for
additional training sessions and vendor presentations.

http://esource.enron.com


Good- Please coordinate w/ Maureen. Thanks.

From: Jeff Dasovich on 11/22/2000 09:54 AM
Sent by: Jeff Dasovich
To: Richard Shapiro/NA/Enron@Enron
cc: David Parquet/SF/ECT@ECT, James D Steffes/NA/Enron@ENRON, Mona L
Petrochko/NA/Enron@ENRON, Sandra McCubbin/NA/Enron@ENRON, Steven J
Kean/NA/Enron@ENRON, Susan J Mara/NA/Enron@ENRON

Subject: Re: Press Conference

I'm available.

	Richard Shapiro
	11/22/2000 06:18 AM

		 To: Susan J Mara/NA/Enron@ENRON
		 cc: David Parquet/SF/ECT@ECT, James D Steffes/NA/Enron@Enron, Jeff
Dasovich/NA/Enron@Enron, Mona L Petrochko/NA/Enron@Enron, Sandra
McCubbin/NA/Enron@Enron, Steven J Kean/NA/Enron@Enron
		 Subject: Re: Press Conference

Is Jeff Available?

Susan J Mara
11/22/2000 03:30 AM
To: Richard Shapiro/NA/Enron@Enron
cc: David Parquet/SF/ECT@ECT, James D Steffes/NA/Enron@Enron, Jeff
Dasovich/NA/Enron@Enron, Mona L Petrochko/NA/Enron@Enron, Sandra
McCubbin/NA/Enron@Enron, Steven J Kean/NA/Enron@Enron

Subject: Re: Press Conference

Should one of us plan to go with him. I have plans to go out of town that day
(1:30 flight), so I won't be able to make it.

	Richard Shapiro
	11/21/2000 05:38 PM

		 To: Jeff Dasovich/NA/Enron@Enron
		 cc: David Parquet/SF/ECT@ECT, James D Steffes/NA/Enron@ENRON, Mona L
Petrochko/NA/Enron@ENRON, Steven J Kean/NA/Enron@ENRON, Susan J
Mara/NA/Enron@ENRON, Sandra McCubbin/NA/Enron@Enron
		 Subject: Re: Press Conference

Got invite to Gray's mtg. through Washington lobbyist  of ours who has
connections w/ Gray.  Steve Kean is attending,

From: Jeff Dasovich on 11/21/2000 07:06 PM
Sent by: Jeff Dasovich
To: David Parquet/SF/ECT@ECT
cc: James D Steffes/NA/Enron@ENRON, Mona L Petrochko/NA/Enron@ENRON, Steven J
Kean/NA/Enron@ENRON, Susan J Mara/NA/Enron@ENRON, Richard
Shapiro/NA/Enron@Enron, Sandra McCubbin/NA/Enron@Enron

Subject: Re: Press Conference

Agree that we should decline to participate.  I also got a call from IEP
regarding the press conference and strongly encouraged them to signicantly
diversify the group to include customers, consumer groups, and the like.

Haven't heard about the meeting on the first with the governor's staff.
Interesting that the administration is choosing to meet with folks on the day
that the report is released.  For the same reasons that we wouldn't want to
be grouped with generators at a press conference, we may not want to be
grouped with generators when the staff disseminates the report's words of
wisdom.

	David Parquet@ECT
	11/21/2000 06:50 PM

		 To: Jeff Dasovich/NA/Enron@Enron, Mona L Petrochko/NA/Enron@Enron, Steven J
Kean/NA/Enron@Enron, Susan J Mara/NA/Enron@ENRON, James D
Steffes/NA/Enron@Enron
		 cc:
		 Subject: Press Conference

Two things:

1. I called Smutney last week re this press conference and declined.  I said
that the idea is fine and we support it, but Enron does not want to
participate in a press conference with other generators on this topic.

2. I just talked to Rob Lamkin of Southern who indicated that ten companies
have gotten letters from Gov Davis addressed to "Dear CEO of Energy
Company."  Letter was to invite these companies to attend a meeting on
Monday, December 1 in LA.  Agenda and issues to follow, but Rob thought it
had to do with the Gov's plan for CA due 12/1.  Meeting will not be with
Davis, but with his staff.  Southern is deciding who to send.  Reliant will
send John Stout and Curtis Keebler.  Williams got a letter, but no info re
their rep.  Rob was calling to see if we got a letter and, if we did, out
thoughts re meeting before the Gov's meeting to discuss.  I said we could
have gotten a letter, but I did not know.

----- Forwarded by David Parquet/SF/ECT on 11/21/2000 04:38 PM -----

	"Katie Kaplan" <kaplan@iepa.com>
	11/21/2000 04:07 PM
	Please respond to kaplan

		 To: <Jeff.Dasovich@enron.com>, <knorton@mcnallytemple.com>, "'John Stout for
Reliant'" <john_h_stout@reliantenergy.com>, "'Curtis Keebler at Reliant'"
<curtis_l_kebler@reliantenergy.com>, "'Julie @ Edson'" <jmball@ns.net>,
"'Paula Hall-Collins'" <paula.hall-collins@williams.com>, "'Marty Wilson'"
<mwilson@pstrategies.com>, "'Rob Lamkin'" <rllamkin@seiworldwide.com>, "Karen
Edson" <kedson@ns.net>, "Bob Weisenmiller" <rbw@mrwassoc.com>, "Sue Mara"
<smara@enron.com>, "Andy Brown" <abb@eslawfirm.com>, "B Brown Andy"
<andybrwn@earthlink.net>, "Bob Escalante" <rescalante@riobravo-gm.com>, "Greg
Blue" <gtbl@dynegy.com>, "Jack Pigott" <jackp@calpine.com>, "Jan
Smutny-Jones" <smutny@iepa.com>, "Joe Ronan" <joer@calpine.com>, "Karen
Denne" <kdenne@enron.com>, "Karen Edson" <kedson@ns.net>, "Kassandra Gough"
<kgough@calpine.com>, "Kristin Vellandi" <kvellandi@pstrategies.com>, "Lynn
Lednicky" <lale@dynegy.com>, "McNally Ray" <rmcnally@mcnallytemple.com>,
"Paula Hall-Collins" <paula.hall-collins@williams.com>, "Richard Hyde"
<rwhyde@duke-energy.com>, "Rob L. Lamkin" <rllamkin@seiworldwide.com>,
"Stephanie-Newell" <stephanie-newell@reliantenergy.com>, "Tom Ross"
<tross@mcnallytemple.com>, "William Hall" <wfhall2@duke-energy.com>, "Trond
Aschehoug" <taschehoug@thermoecotek.com>, "Tony Wetzel"
<twetzel@thermoecotek.com>, "Susan J Mara" <Susan_J_Mara@enron.com>, "Steve
Ponder" <steve_ponder@fpl.com>, "Steve Iliff" <siliff@riobravo-gm.com>,
"Scott Noll" <snoll@thermoecotek.com>, "Roger Pelote"
<roger.pelote@williams.com>, "Rob Lamkin" <rllamkin@seiworldwide.com>, "Randy
Hickok" <rjhickok@duke-energy.com>, "Paula Soos"
<paula_soos@ogden-energy.com>, "Marty McFadden"
<marty_mcfadden@ogden-energy.com>, "Lynn Lednicky" <lale@dynegy.com>, "Kent
Fickett" <kfickett@usgen.com>, "Ken Hoffman" <khoffman@caithnessenergy.com>,
"Jonathan Weisgall" <jweisgall@aol.com>, "Joe Ronan" <joer@calpine.com>, "Joe
Greco" <joe.greco@uaecorp.com>, "Jim Willey" <elliottsa@earthlink.net>, "Jeff
Dasovich" <jdasovic@enron.com>, "Jack Pigott" <jackp@calpine.com>, "Hap Boyd"
<rboyd@enron.com>, "Greg Blue" <gtbl@dynegy.com>, "Frank DeRosa"
<frank.derosa@gen.pge.com>, "Eileen Koch" <eileenk@calpine.com>, "Ed Tomeo"
<ed.tomeo@uaecorp.com>, "Duane Nelsen" <dnelsen@gwfpower.com>, "Dean
Gosselin" <dean_gosselin@fpl.com>, "Dave Parquet" <dparque@ect.enron.com>,
"Curtis Kebler" <curtis_l_kebler@reliantenergy.com>, "Curt Hatton"
<curt.hatton@gen.pge.com>, "Cody Carter" <cody.carter@williams.com>, "Carolyn
Baker" <cabaker@duke-energy.com>, "Bob Escalante"
<rescalante@riobravo-gm.com>, "Bill Woods" <billw@calpine.com>, "Bill
Carlson" <wcarlson@wm.com>, "Eric Eisenman" <eric.eisenman@neg.pge.com>
		 cc: "Jan Smutny-Jones" <smutny@iepa.com>, "Steven Kelly" <steven@iepa.com>,
"Susan McCabe" <sfmccabe@mindspring.com>, "Scott Govenar"
<sgovenar@govadv.com>, "Ron Tom" <thackbarth@govadv.com>, "Robert Ross"
<robbiz@cwo.com>, "Phil Isenberg" <Isenberg@HMOT.com>, "Mike Monagan"
<mrmonagan@aol.com>, "Maureen OHaren" <Oharen@HMOT.com>, "Marie Moretti"
<marie_moretti@msn.com>, "Kassandra Gough" <kgough@calpine.com>, "Hedy
Govenar" <hgovenar@acom2.com>, "Delany Hunter" <dhunter@smithandkempton.com>,
"Bev Hansen" <bhansen@lhom.com>, "Anne Kelly" <kelly@hnks.com>, "Jenn
Paulsen" <paulsen@HMOT.com>, "Jamie Parker" <jparker@HMOT.com>
		 Subject: Press Conference

Greetings:

IEP will be holding a press conference on Tuesday November 28 at 10:30 a.m.
in the Governors Press room to discuss the importance of long-term fixed
(that term is easier to understand than bilateral) contracts.

IEP will be stressing the importance of the contracts as part of the
solution for next summer. Several IEP members have offered (and have
continued to offer) long-term fixed contracts at terms under the current
retail rate freeze.  We will indicate that the utilities have been hesitant
to enter into these contracts due to the uncertain nature of the CPUC.  We
will point out that several different independent entities have agreed that
long-term contracts are one of the key solutions and that the PUC should act
immediately to set a benchmark and in so doing eliminate the reasonableness
review that is the main barrier for IOU's not entering into large long-term
fixed contracts.

IEP is also currently working to include other market participants in the
Press Conference.

We would like as many IEP participants as possible at the conference to show
that there are several companies who continue to be serious about long-term
fixed price contracts. We have already received a couple of responses and if
you are interested please let me know ASAP-no later than noon Wednesday- as
we are sending out an advisory on Monday.

Thank you for your attention to this matter.

Katie Kaplan
Manager of State Policy Affairs
Independent Energy Producers Association
(916) 448-9499


The Payment status has changed on the following report:

Status last changed by: Kim D. Brocken
Expense Report Name: Customer Outing - Crawfish Boil Party
Report Total: $820.44
Amount Due Employee: $820.44
Amount Approved: $820.44
Amount Paid: $0.00
Approval Status: Approved
Payment Status: In Progress

To review this expense report, click on the following link for Concur Expense.
http://xms.enron.com


Pushing for a meeting is still a good idea.  I'd be surprised if ENA wouldn't want to meet with APS Senior Management.

 -----Original Message-----
From: 	Lawner, Leslie
Sent:	Friday, October 26, 2001 2:50 PM
To:	Nord, Sue; Steffes, James D.; Kaufman, Paul; Kingerski, Harry
Subject:	FW: electric matters

This might change things.

 -----Original Message-----
From: 	"Tom Mumaw" <tmumaw@swlaw.com>@ENRON
Sent:	Friday, October 26, 2001 3:12 PM
To:	Lawner, Leslie
Subject:	Re: electric matters

Steve Wheeler would be the first person to call.  However, I feel I must have drafted this pleading very badly for it to be so misinterpreted (and you are not the only one).  The press report on the filing is virtually 100% inaccurate.  We are not suggesting a day's delay in divestiture, and I certainly don't know where the 2008 date came from.  Secondly, this filing has no effect on the Settlement, so I doubt APS will want to discuss reopening it, but you can always ask.

>>> "Lawner, Leslie" <Leslie.Lawner@ENRON.com> 10/25/01 02:31PM >>>
There is some interest here at Enron to meet with APS and talk about
Arizona, future plans and their filing (which I have not seen) to push
back transfer of the generation assets until '08.  I don't think we want
to go back into AZ and argue for restructuring all over again, but it
seems that APS will be reopening the settlement. I think we would like
to see what they might be amenable to.  Do you think you could set up a
meeting for us, or should I just call over?  Would Mr. Wheeler be the
right person to talk with?  I am not even dreaming of asking you to do
anything substantive, so don't get worried, I just would like a nice
meeting in Phoenix.

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


Uh...... That is REALLY FREAKING ME OUT now Forney!


Energy Market Report
Thursday, December 20, 2001

*See attached pdf file.
__________________________________________________________
Western Pre-Scheduled Firm Electricity Prices($/MWh)
December 20, 2001 for December 23, 2001

Peak(Heavy)
                   Low     Change**     High    Change**
NW/N. Rockies*    17.00      NA        18.00      NA
Mid-Columbia*     17.00      NA        18.00      NA
COB*              16.00      NA        18.50      NA
N. California*    16.00      NA        20.00      NA
Midway/Sylmar*      NA       NA          NA       NA
S. California*    13.50      NA        17.00      NA
Mead*             14.75      NA        15.75      NA
Palo Verde*       14.00      NA        16.00      NA
Inland SW*        14.00      NA        16.00      NA
4-Corners*        14.00      NA        16.00      NA
Central Rockies*  13.00      NA        14.50      NA
__________________________________________________________
Off-Peak(Light)
                   Low     Change**     High    Change**
NW/N. Rockies*    17.00      NA        18.00      NA
Mid-Columbia*     17.00      NA        18.00      NA
COB*              16.00      NA        18.50      NA
N. California*    16.00      NA        20.00      NA
Midway/Sylmar*      NA       NA          NA       NA
S. California*    13.50      NA        17.00      NA
Mead*             14.75      NA        15.75      NA
Palo Verde*       14.00      NA        16.00      NA
Inland SW*        14.00      NA        16.00      NA
4-Corners*        14.00      NA        16.00      NA
Central Rockies*  13.00      NA        14.50      NA

*Denotes trading of flat, 24-hour products.
**"NA" changes are not applicable because prices for on and off peak goods
are not comparable to flat products.
__________________________________________________________
Western Pre-Scheduled Firm Electricity Prices($/MWh)
December 20, 2001 for December 24, 2001

Peak(Heavy)
                   Low     Change**     High    Change**
NW/N. Rockies     19.00      NA        21.00      NA
Mid-Columbia      19.00      NA        21.00      NA
COB               21.00      NA        23.50      NA
N. California     23.50      NA        27.00      NA
Midway/Sylmar       NA       NA          NA       NA
S. California     22.25      NA        26.00      NA
Mead              21.00      NA        24.00      NA
Palo Verde        22.25      NA        25.00      NA
Inland SW         21.00      NA        25.00      NA
4-Corners         21.50      NA        22.50      NA
Central Rockies   21.00      NA        22.00      NA
__________________________________________________________
Off-Peak(Light)
                   Low     Change**     High    Change**
NW/N. Rockies     17.00      NA        18.00      NA
Mid-Columbia      17.00      NA        18.00      NA
COB               16.00      NA        18.50      NA
N. California     16.00      NA        20.00      NA
Midway/Sylmar       NA       NA          NA       NA
S. California     13.50      NA        17.00      NA
Mead              14.75      NA        15.75      NA
Palo Verde        14.00      NA        16.00      NA
Inland SW         14.00      NA        16.00      NA
4-Corners         14.00      NA        16.00      NA
Central Rockies   13.00      NA        14.50      NA

**"NA" changes are not applicable because prices for on and off peak goods
are not comparable to flat products.
__________________________________________________________
Dreaming of a Wet Christmas

As reduced holiday demand prepared to firmly grip the U.S., peak power
prices for delivery on Sunday and Christmas Eve fell sharply throughout the
West on Thursday.  The most notable declines were seen in the southern half
of the WSCC as temperatures remained at or just above normal levels, while
much of the Northwest and Northern California combated increasing heating
demand.  "Lower spot gas prices may have played a role in softening the
dailies, but holiday loads are the main market-moving force," admitted one
trader.  NYMEX Henry Hub futures contracts rose Thursday on forecasts
calling for end-of-the-month cold in the Midwest and Northeast, though most
players believed that weak holiday demand would limit the upside in the near
term.  January Hub gas, which expires next Thursday, rose 7 cents to close
at 2.686$/mmBtu, and February gained 5.8 cents to end at 2.708$/mmBtu.  "The
forecasted cold for the eastern half of the U.S. may well have pushed Henry
Hub prices much higher had it not been for the glut of gas currently in
storage," said one gas watcher.  Over the past several weeks, the Western
U.S. has led the nation in inventory withdrawls, largely due to colder
weather in the region relative to the rest of the nation.  Several sources
indicated that the "strong Western draws" were due in part to a large number
of unit outages, especially at coal-fired plants, which increased the demand
for natural gas.  The recent return of more than 1,000 MW of coal-fired
generation, however, will likely reduce demand for natural gas going
forward.  Natural gas demand will likely be reduced further by the recent
precipitation.  Not only does the heavy precipitation lend to stronger hydro
generation now, but higher snow-pack will likely boost hydro output when the
spring runoff takes place.  "All these factors lead me to believe that the
demand for gas-fired generation in the West will remain weak well into
 2002," said one market analyst.

Heavy load energy costs for Christmas Eve delivery fell by an average of
3.25$/MWh in the Northwest on Thursday, but the decline was limited by
colder temperatures across much of the region.  Peak power at the
Mid-Columbia traded in a relatively narrow range from 19 to 21$/MWh, while
light load goods for the all-day Sunday/off-peak Christmas Eve package were
seen in an even tighter range between 17 and 18$/MWh.  "I'm not sure why
they treated Christmas Eve as a peak power day.  I don't know anyone who
will be working on Monday," said one baffled trader.  Flow forecasts for
Chief Joseph remained strong amid recent heavy precipitation, coming in at
95 kcfs Friday, 75 kcfs Saturday, 60 kcfs Sunday, 75 kcfs Christmas Eve, 60
kcfs Christmas Day, and 90 kcfs next Wednesday and Thursday.  Recent heavy
rains have all but quashed a year-long drought in the region.  With the
shortest day of the year upon us, Portland, Oregon was enjoying its 32nd day
of continuous rain.  That leaves only three more days of Mother Nature's
revenge to break the record of 34 days. Precipitation since October 1 has
ranged from 124 to 143% of normal in the Cascades and northern Sierra Nevada
Mountains.  Canadian precipitation is back on track too, with snow-pack
levels in the Columbia River drainage at or above normal.  Last year's
drought, frigid weather, and market panic are merely distant memories.

Peak power prices for the Sunday-Monday package weakened across the Golden
State on Thursday in what marketers described as a "cold, wet, uneventful
trading day."  The all-day Sunday/off-peak Monday piece lost ground at every
California hub, with SP-15 the biggest mover.  "There's just no demand over
the holidays, especially with this mild weather," lamented one overstocked
seller.  Above-normal precipitation and temperatures in the low 50s to
mid-60s were the most-oft cited targets for blame, according to market
players.  The five-day forecast called for temperatures in the western
portions of California to be near or slightly below normal, while the
eastern portions were expected to be slightly above normal.  Rain was
predicted for the coastal and lowland regions, with snow called for in the
mountains.  The latest six-to-ten suggested that temperatures would fall
below normal from December 26 to 30.  In unit news, gas-burner Los Medanos
(550 MW) had already powered up to 530 MW following an unplanned outage, and
Contra Costa #7 (337 MW) was ramping down for a planned maintenance outage.
It had powered down to 45 MW as of the CAISO's 11:15 report.

Relatively mild weather and meek holiday demand prompted spot electricity
prices in the Southwest to make the sharpest declines in the West on
Thursday.  Peak power for Christmas Eve fell by as much as a whopping
6.5$/MWh at Palo Verde, with confirmed trades heard anywhere between 22.25
and 25$/MWh.  A very late trade reported at 29.25$/MWh was no more than an
anomaly.  Light load goods at the Southwest hub traded narrowly between 14
and 16$/MWh.  In unit news, Mohave #1 (739 MW) was still scheduled to return
from the dead at 22:00 MST Thursday, but even unit participants were taking
a wait-and-see attitude.  Further to the north, Utah-based Hunter #2 (472
MW) had its return pushed back until at least Christmas Day.  Weather
forecasts called for temperatures in Phoenix to hover within a few degrees
of normal through the long holiday weekend, while the latest six-to-ten from
the NWS was predicting a mix of normal and below-normal conditions across
the desert region from December 26 through 30.

Patrick O'Neill and Jessie Norris
_________________________________________________________

Western Generating Unit Outages

Current                            Begins          Ends          Reason
CAISO units <250/5824 total          NA             NA
planned/unplanned*
Alamitos #3/320/gas               04-Dec-01         ?            planned
Big Creek Project/1020/hydro      09-Dec-01         ?         @752MW,
planned
Contra Costa #7/337/gas           20-Dec-01         ?         @ 45MW,
planned*
El Segundo #3/337/gas             02-Oct-01         ?            unplanned
Encina #5/332/gas                 27-Oct-01         ?            planned
Grand Coulee #19/600/hydro        10-Dec-01       March          repairs
Helms PGP #2/407/hydro            01-Oct-01         ?            planned
Hunter #2/472/coal                11-Dec-01     25-Dec-01        unknown*
Hyatt/Thermalito/933/hydro        02-Oct-01         ?      @607 MW,
unplanned
Mohave #1/790/coal                15-Dec-01     20-Dec-01        tube leak
Moss Landing #6/739/gas           19-Dec-01         ?            unplanned
Ormond Beach #2/750/gas           05-Oct-01         ?      @350 MW,
unplanned
Pittsburg #6/317/gas              22-Nov-01         ?            planned
Sutter Plants/546/gas             04-Dec-01         ?            planned

For unit owners refer to pdf version.
*Indicates a change from previous EMR.
______________________________________________________________________

Eastern Markets Pre-Scheduled Firm Power Prices ($/MWh)

December 20, 2001 for December 21, 2001

Peak (Heavy) in $/MWh
                 Low     Change   High      Change
Into Cinergy    20.75     0.75    21.75     -0.65
Western PJM     24.25    -0.65    24.50     -0.65
Into Entergy    22.00     1.50    23.25      1.25
Into TVA        21.00     0.75    22.00      0.50
___________________________________________________________
Amid light pre-holiday trading and higher natural gas prices, day-ahead
electricity prices were mixed across the Eastern Interconnect on Thursday.
With many traders already off for the holiday and light loads expected to
continue through the end of the year, volume was particularly thin and
prices were seen in tight ranges.  "There's a piece trading here and there,
but for the most part business is done until January," said one PJM trader.
NYMEX Henry Hub natural gas futures climbed on Thursday, with the January
contract gaining 7 cents to close 2.686$/mmBtu and the February contract
following suit with a 5.8 cent gain to close at 2.708$/mmBtu.

Despite less generation on-line than a day ago, peak power prices settled
lower on Thursday in the Mid-Atlantic.  "Some plants are off to give
everyone a holiday break, which is possible because the weather's not
expected to do much," said one ready-to-leave PJM player.   Western PJM
heavy-load goods traded between 24.25 and 24.5$/MWh, slipping 65 cents at
both ends.  Light load deals for Friday delivery were heard from 16.75 to
17$/MWh.  LMPs spiked to an unusually hefty 100$/MWh briefly at 08:00 and
again just before 09:00 EST, before settling back near the day's average of
23.06$/MWh through 14:00 EST.  Forecasts in the Mid-Atlantic called for
temperatures to linger within 5 degrees of seasonal levels.  Friday highs
were expected in the 41 to 48 degree range, with overnight lows just below
freezing.  Low temperatures were predicted to warm into the low-40s by
Christmas Eve.  The latest six-to-ten from the NWS called for near to
below-normal temperatures from December 26 to 30.

In sparse dealing, heavy load electricity prices in the Midwest fell off a
bit on Thursday, as weather, loads, and the attitudes of those still stuck
at work on Friday were expected to be bearish.  Into Cinergy goods changed
hands between 20.75 and 21.75$/MWh, gaining 75 cents on the low end and
losing almost the same off the high to settle into a dollar spread.  No new
unit information was available on Thursday.  High temperatures were expected
mostly in the 40s through Sunday, while cooling into the mid-30s was
predicted for Christmas Eve, boosting the hopes of those still dreaming of a
white Christmas.  The most current six-to-ten-day forecast called for near
to below-normal temperatures from December 26 to 30.

Peak power prices strengthened in the Southeast on Thursday for the third
day in a row, as colder weather forecasts and higher natural gas prices
rallied the dailies.  Into Entergy deals were done between 22 and
23.25$/MWh, with the bulk of transactions near 22.75$/MWh.  Into TVA trading
was much lighter, with pieces being bought and sold between 21 and 22$/MWh.
Although no official word was heard, traders thought Catawba #2 (1,129 MW)
remained down.  High temperatures were expected to range from 47 to 57
degrees through Christmas Eve, with overnight lows in the mid-30s to
low-40s.  The latest six-to-ten called for near to below-normal temperatures
from December 26 to 30.
___________________________________________________________
California ISO Congestion Index in $/MWh

                         Path                 Peak   Off-peak
for 21-Dec-01         NW1 to NP15             0.00     0.00
                      NW3 to SP15             0.00     0.00
                      AZ3 to SP15             0.00     0.00
                      LC1 to SP15             0.00     0.00
                      SP15 to NP15            0.00     0.00

OTC Forward Peak Electricity Contracts in $/MWh

                    Mid-C              PV              SP-15
                Bid      Ask      Bid      Ask      Bid      Ask
BOM            21.50    23.50    23.00    25.50    25.75    27.75
January        24.50    26.00    27.00    28.00    29.00    30.00
February       21.50    23.00    25.00    26.00    26.50    27.50
March          18.00    19.50    25.00    26.00    26.00    27.00
Q1 '02         21.25    22.75    26.00    27.00    28.00    29.00
Q2 '02         16.50    18.00    28.00    29.00    28.00    29.00
Q3 '02         32.75    34.25    44.75    45.75    42.00    43.00
Q4 '02         27.50    29.00    29.00    30.00    31.00    32.00
Cal '03        30.00    31.50    33.50    34.50    34.50    35.50
Represents the most recent bid/ask spread obtainable
by the Energy Market Report.

Alberta Power Pool Index (C$/MWh)

                    Peak(14)   Peak(16)   Off-Peak    Flat     Change
for  19-Dec-01       46.32      46.27      36.69      43.38     3.35

BPA's Offer for 12/2401.

Hours        Amount          NW delivered        COB/NOB delivered

7-22         100MW           Market Price*          Market Price*

*Market price will be determined at time of request.

NYMEX Henry Hub Gas Futures in $/mmBtu

                 Close        Change
        Jan      2.686         0.070
        Feb      2.708         0.058

Natural Gas Spot Prices in $/mmBtu

                  Low          High
Sumas             2.45         2.50
So. Cal Border    2.51         2.56
San Juan          2.35         2.40
__________________________________________________________

Economic Insight, Inc. - 3004 SW First, Portland, Oregon 97201,
Telephone (503) 222-2425, Internet e-mail emr@econ.com -
Copyright, Economic Insight, Inc. 2001.


email works just fine for the PUC, but it would be good if they followed up
with a phone call (no big deal if they don't, but would be helpful).

Best,
Jeff


I have been summoned for jury duty onTuesday, November 28 at 8:00 am.  While
wanting to fulfill my civic duty, I am also hoping to be an unlikely juror
this time around so that I can be back in the office sometime on Tuesday.  I
will call in and let Patti know my status.


Vince, Stinson:

I gave a talk to a bunch of UH MBA students taking a course on options.  One
of the more interesting of the inevitable stream of resumes is the enclosed.
Perhaps an EBS hire?

Grant
---------------------- Forwarded by Grant Masson/HOU/ECT on 04/24/2000 08:18
AM ---------------------------

"Matthew Crouse" <mscrouse@hotmail.com> on 04/21/2000 05:06:08 PM
To: grant.masson@enron.com
cc:
Subject: UH lecture and potential career opportunity

Dr. Masson,

I attended your lecture at UH and enjoyed it tremendously.  If possible, I
would like to investigate a career opportunity with your group in particular
or Enron in general.  Would you please review my resume and/or forward to
potentially interested parties?

In tandem will all of Enron's other propaganda efforts, your top-notch
lecture at UH spurred me to do some soul searching.  I currently work at
Duke Energy Trading and Marketing, but have been extremely impressed with
Enron's cutting-edge research and market-leading position.

I have a Ph.D in electrical engineering from Rice (statistical signal
processing) with two years of experience at Duke relating to the valuation,
risk management, and risk measurement of financial derivatives and physical
assets.  I seek a similar position that would allow me to leverage my
quantitative skills and grow within in the corporation.

I believe I would be a great fit with Enron and hope you would consider me
for a potential position.

Best regards,
Matt Crouse
________________________________________________________________________
Get Your Private, Free E-mail from MSN Hotmail at http://www.hotmail.com

 - Matt Crouse CV.doc


-----Original Message-----
From: Minter, Kimberly R (PS, SSEP)
Sent: Thursday, September 21, 2000 3:16 PM
To: Johnson, Lee L (PS, SSEP)
Subject: Ben Jacoby Letter

g            S&S Energy Products
_____________________________________

                                                           A GE Power
Systems Business
Kimberly Minter
Marketing Coordinator

2707 North Loop West, Houston, TX 77008
Phone: 713-803-0316
Fax: 713-869-8365

 - Ben Jacoby.pdf


Vince,

Congratulations!  I wish you the best of luck with your new responsibilities.

Shalesh Ganjoo


Start Date: 1/27/02; HourAhead hour: 2;  HourAhead schedule download failed. Manual intervention required.


WOW!  Congratulations on your engagement.  I remember you talking about her
at the reunion.  I'm glad your career is going so well - as if there was ever
a doubt.  Well, my news is also big.  I'm expecting a little girl on June
11th.  Talk about a life changing event.  Pat and I moved to Katy to live
close to my parents and to have a bigger and newer house.  I really love it
there.  It's hard to believe our 6 year anniversary is coming up in March.
I'm still working at Enron - still trading commodities, and it's going really
well.  Like I said before, I just wanted to wish you a happy birthday and
catch up a little.  I know how busy you are, but I'd love to have your new
email when you leave Seattle.  Until next time - take care and have fun
planning the wedding!


Je pense que je suis un plaisir a est vers.  (Mes excuses, le net send ne
travaille pas.)


Attached is a revised version of ENA's last redline of the letter
agreement re the transformer.  Coral has not yet reviewed these changes.
 I also suggest that the following be added to the end of Section 6.1 of
the LLC Agreement:

"For avoidance of any doubt, no Transfer by ENA shall operate to
release ENA from its obligations under Section 6.2."

I have not yet received any comments from Coral on the LLC Agreement
redraft.

I will give you specific comments Sat. morning on the acknowledgement
letter from ABB.

 - 5wz2_01_.DOC


So.........


---------------------- Forwarded by Darron C Giron/HOU/ECT on 10/05/2000
08:27 AM ---------------------------

Scott Crowell <scott.crowell@oracle.com> on 10/04/2000 06:45:00 PM
To: undisclosed-recipients:;
cc:
Subject: New email, address, and phone #

As many of you already know, I have taken a job outside of Oracle and am
now living in Dallas.  I will only have this email until Friday, October
6, 2000.  After that, please use:

scott_crowell@hotmail.com

I will send my new email address as soon as I get hooked up at the new
job.  My address and phone number in Dallas is:

4233 Travis Street, #29
Dallas, Texas 75205

214.521.8878

I will have the same cell phone for at least another couple of weeks,
and I will send that new number at a later date.

Scott

 - scott.crowell.vcf


Ken will be there.

Katherine Brown
11/20/2000 09:09 AM

To: James M Bannantine/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Cliff
Baxter/HOU/ECT@ECT, Sanjay Bhatnagar/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Jeremy Blachman/HOU/EES@EES, Philippe A Bibi/HOU/ECT@ECT, Raymond
Bowen/HOU/ECT@ECT, Michael R Brown/LON/ECT@ECT, Harold G
Buchanan/HOU/EES@EES, Rick Buy/HOU/ECT@ECT, Richard Causey/Corp/Enron@ENRON,
Diomedes Christodoulou/SA/Enron@Enron, Wade
Cline/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, David Cox/Enron
Communications@Enron Communications, David W Delainey/HOU/ECT@ECT, James
Derrick/Corp/Enron@ENRON, Steve Elliott/Enron Communications@Enron
Communications, Jim Fallon/Enron Communications@Enron Communications, Andrew
S Fastow/HOU/ECT@ECT, Mark Frevert/NA/Enron@Enron, Ben F Glisan/HOU/ECT@ECT,
Kevin Hannon/Enron Communications@Enron Communications, David
Haug/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rod Hayslett/FGT/Enron@ENRON,
Stanley Horton/Corp/Enron@Enron, James A
Hughes/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Larry L
Izzo/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Steven J Kean/NA/Enron@Enron,
Louise Kitchen/HOU/ECT@ECT, Mark Koenig/Corp/Enron@ENRON, Kenneth
Lay/Corp/Enron@ENRON, John J Lavorato/Corp/Enron@Enron, Dan Leff/HOU/EES@EES,
Danny McCarty/ET&S/Enron@Enron, Mike McConnell/HOU/ECT@ECT, Rebecca
McDonald/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jeffrey McMahon/HOU/ECT@ECT,
Mark Metts/NA/Enron@Enron, Mark S Muller/HOU/EES@EES, Cindy
Olson/Corp/Enron@ENRON, Lou L Pai/HOU/EES@EES, Ken Rice/Enron
Communications@Enron Communications, Matthew Scrimshaw/LON/ECT@ECT, Jeffrey A
Shankman/HOU/ECT@ECT, Jeffrey Sherrick/Corp/Enron@ENRON, John
Sherriff/LON/ECT@ECT, Jeff Skilling/Corp/Enron@ENRON, Marty
Sunde/HOU/EES@EES, Greg Whalley/HOU/ECT@ECT, Thomas E White/HOU/EES@EES, G G
Garcia/NA/Enron@Enron, Marcia Manarin/SA/Enron@Enron, Susan
Skarness/HOU/ECT@ECT, Stacy Guidroz/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Beena Pradhan/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Karen K
Heathman/HOU/ECT@ECT, Sharron Westbrook/Corp/Enron@ENRON, Kay
Chapman/HOU/ECT@ECT, Molly Bobrow/NA/Enron@Enron, Rosane
Fabozzi/SA/Enron@Enron, Stephanie Harris/Corp/Enron@ENRON, Bridget
Maronge/HOU/ECT@ECT, Nicki Daw/NA/Enron@Enron, Inez Dauterive/HOU/ECT@ECT,
Carol Ann Brown/Enron Communications@Enron Communications, Elaine
Rodriguez/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Cindy Stark/Corp/Enron@ENRON,
Mary E Garza/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Maureen
McVicker/NA/Enron@Enron, Joannie Williamson/Corp/Enron@ENRON, Rosalee
Fleming/Corp/Enron@ENRON, Vanessa Groscrand/Corp/Enron@ENRON, Tori L
Wells/HOU/ECT@ECT, Cathy Phillips/HOU/ECT@ECT, Loretta
Brelsford/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sue Ford/HOU/ECT@ECT, Dolores
Fisher/NA/Enron@Enron, Karen Owens/HOU/EES@EES, Dorothy Dalton/Enron
Communications@Enron Communications, Mercedes Estrada/Enron
Communications@Enron Communications, Christina Grow/Corp/Enron@ENRON, Lauren
Urquhart/LON/ECT@ECT, Sherri Sera/Corp/Enron@ENRON, Katherine
Brown/Corp/Enron@ENRON, Liz M Taylor/HOU/ECT@ECT, Judy G Smith/HOU/EES@EES,
Bobbie Power/Corp/Enron@ENRON, Suzanne Danz/Corp/Enron@ENRON, Peggy
McCurley/HOU/ECT@ECT, Marsha Schiller/HOU/ECT@ECT, Fiona Stewart/LON/ECT@ECT,
Jana L Paxton/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Connie
Blackwood/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Tammie Schoppe/HOU/ECT@ECT,
Kimberly Hillis/HOU/ECT@ect, Jennifer Burns/HOU/ECT@ECT, Sharon
Dick/HOU/EES@EES, Beverly Aden/HOU/EES@EES, Kathy Dodgen/HOU/EES@EES, Kerry
Ferrari/LON/ECT@ECT, Carol Moffett/HOU/EES@EES, Jennifer Adams/Enron
Communications@Enron Communications, Leah Rijo/Enron Communications@Enron
Communications, Lucy Marshall/Enron Communications@Enron Communications,
Kathy Campos/GPGFIN/Enron@ENRON, Julie Armstrong/Corp/Enron@ENRON, Kathryn
Greer/HOU/EES@EES
cc: Oma696-EB4102 Video Conference/ET&S/Enron@Enron, Vanessa
Groscrand/Corp/Enron@ENRON
Subject: EXECUTIVE COMMITTEE MEETING - MONDAY, NOVEMBER 27

Executive Committee Weekly Meeting
Date:  Monday, November 27
Time:  11:00 a.m. (CDT)
Location: 50th Floor Boardroom
Video:  Connections will be established with remote locations upon request.
Conf call: AT&T lines have been reserved.  Please contact Sherri Sera
(713/853-5984)
  or Katherine Brown (713/345-7774) for the weekly dial-in number and
passcode.

Please indicate below whether or not you plan to attend this meeting and
through what medium.

 Yes, I will attend in person _______

 By video conference from _______

 By conference call  _______

 No, I will not attend  _______

*  *  *

Please return this e-mail to me with your response by 12:00 p.m., Wednesday,
November 22.

Thank you,
Katherine


FYI, from Steve Harris,

adr

 -----Original Appointment-----
From: 	Sellers, Emily   On Behalf Of Fossum, Drew
Sent:	Friday, July 27, 2001 11:24 AM
To:	Fossum, Drew; McCarty, Danny; Harris, Steven; Watson, Kimberly; Corman, Shelley; Miller, Mary Kay; Kirk, Steve; Porter, Gregory J.; Pavlou, Maria; Hartsoe, Joe; Miller, Mary Kay; Kirk, Steve; Porter, Gregory J.; Pavlou, Maria; Horton, Stanley; Hayslett, Rod; Fossum, Drew; McCarty, Danny; Harris, Steven; Watson, Kimberly; Corman, Shelley; Miller, Mary Kay; Kirk, Steve; Porter, Gregory J.; Pavlou, Maria; Hartsoe, Joe; Miller, Mary Kay; Kirk, Steve; Porter, Gregory J.; Pavlou, Maria; Horton, Stanley; Hayslett, Rod
Subject:	Updated: Transwestern Meeting
When:	Tuesday, July 31, 2001 2:00 PM-4:00 PM (GMT-06:00) Central Time (US & Canada).
Where:	49C2-Houston, 7C2-Omaha

You are invited to attend a meeting to discuss Transwestern on July 31st from 2:00 - 4:00 p.m.
It will be held in 49C2 (Houston, not 47C2 as previously listed) and 7C2 (Omaha) via videoconference.

Attendees, Houston:		Attendees, via phone, Washington D.C.:		Attendees, Omaha:

Stan Horton			Charlie Moore (Akin, Gump)			Mary Kay Miller
Ron Hayslett			Ron Nuschler (Akin, Gump)			Steve Kirk
Danny McCarty			Joe Hartsoe					Greg Porter
Steve Harris			Steve Stojic   (Gallagher, Borland)		Maria Pavlou
Kim Watson			Frank Kelly    (Gallagher, Borland)
Shelly Corman
Drew Fossum

Please let me know if you will be able to attend.

Thanks,

Bonnie Baum for Drew Fossum


<<NDA - Deloitte & Touche>> Your message

  To:      bmaxant@deloitte.com; Gtravers
  Cc:      Michael.Bridges@enron.com; Mark.Greenberg@enron.com
  Subject: NDA - Deloitte & Touche
  Sent:    Fri, 23 Feb 2001 17:58:04 -0500

was delivered to the following recipient(s):

Travers, George (US - New York) on Fri, 23 Feb 2001 17:58:29 -0500
    MSEXCH:MSExchangeMTA:US:USESTNT420

Message-ID: <OFDE6C4E3F.0210EC12-ON862569FC.007DF9A2@enron.com>
From: Tana.Jones@enron.com
To: bmaxant@deloitte.com, Gtravers <gtravers@deloitte.com>
Cc: Michael.Bridges@enron.com, Mark.Greenberg@enron.com
Subject: NDA - Deloitte & Touche
Date: Fri, 23 Feb 2001 17:58:04 -0500
Return-Receipt-To: Tana.Jones@enron.com
MIME-Version: 1.0
X-Mailer: Internet Mail Service (5.5.2650.21)
X-MS-Embedded-Report:
Content-Type: text/plain; charset="iso-8859-1"


For prior periods - I am not sure if you need to handle this using the
instructions below - or if for prior months ONLY - if  you would be allowed
to create a
cashout ticket to clear out any prior period imbalances.   Your controller
and volume management (Kathy Kelly) should make this call.

Kim and David can brain check me on this - but I think this is how parking
should be done; however,
please verify with West or East desk economics to ensure accuracy/consistency.

PARKING PROCEDURES

Create a Storage deal in SITARA - Service Type: Parking
Use this service deal to path to a storage account in UNIFY - this way you
have accounted for the gas in UNIFY
Inject into storage account
Withdrawal from storage account

(When you do the opposite of parking - withdrawal first - it is called a
"loan")

Create two economic deals in SITARA - Exchange deal
Create an internal buy and sell of physical gas for economics and position
purposes - (no invoices - fake 3rd party)
Exchange deal -
Sell to CPR Pipeline Exchange (parking gas)
Buy from CPR Pipeline Exchange (getting gas back)

Within the month parking - no money exchanges hands - except any service fees
which can be recorded on the Storage deal.
Sell to CPR Pipeline Exchange (parking gas) -   Price = $0
Buy from CPR Pipeline Exchange (getting gas back) Price = $0

When the deal crosses a month - if you keep the risk within the desk - in the
short term you record a big loss - sell at $0 - and the
next month you record a big gain - buy at $0.   To manage this - usually the
cash desk swaps out the time risk to a storage financial book - who will pick
up the time
spread loss and offsetting gain - as this book captures forward value.
When you are adjusting your physical injections (parking) within the month -
you will need to
adjust your swaps too - which will adjust the P&L for the time spread
accordingly - otherwise you will have liquidation problems.

Period 1 - Sell to CPR Pipeline Exchange (parking gas) -   Price = $0   Swap
to firm book for Index + mid
Period 2 - Buy from CPR Pipeline Exchange (getting gas back) Price = $0
Swap to firm book for Index + mid


I am looking at my physical volume report, and have a couple questions about
the totals

If I take the total volume, and multiply that by the total hours, I get a
total of 318,557,665,950.40 mwh.    Is this what was physically flowing?  If
so, then I think this number is wrong.  If this is our total volume, then I
am worried because I thought we were just reporting our physical flows.

Can you clear this up for me?

c

Linda L Lawrence@ENRON
01/23/2001 09:02 AM
Sent by: Linda L Lawrence@ENRON
To: Mary Hain/HOU/ECT@ECT, Valarie Sabo/PDX/ECT@ECT, Christi L
Nicolay/HOU/ECT@ECT, Cara Semperger/PDX/ECT@ECT, Leslie Reeves/HOU/ECT@ECT
cc: Monica Lande/PDX/ECT@ECT, Kristin Albrecht/HOU/ECT@ECT, Stacey W
White/HOU/ECT@ECT, Tim Belden/HOU/ECT@ECT
Subject: RE: WSPP 4th Quarter 2000 Report

For your review and comments, to be filed via e-mail on Friday, Jan .26th.

Thanks
Linda
----- Forwarded by Linda L Lawrence/NA/Enron on 01/23/2001 10:46 AM -----

	Nikolay Kraltchev/ENRON@enronXgate
	01/23/2001 10:27 AM

		 To: Linda L Lawrence/NA/Enron@Enron
		 cc:
		 Subject: RE: WSPP 4th Quarter 2000 Report

These are the two files for 4-th quarter 2000:

Call us if yo have any questions.

Thanks!
Nikolay
x-5-7265

 -----Original Message-----
From:  Luu, Duong
Sent: Tuesday, January 23, 2001 7:33 AM
To: Kraltchev, Nikolay
Cc: Anderson, Glenn
Subject: FW: WSPP 4th Quarter 2000 Report
Importance: High

Nikolay or Glenn

Please run these WSPP report for Linda ASAP

Thanks,
dluu

 -----Original Message-----
From:  Lawrence, Linda   On Behalf Of Linda L Lawrence/HOU/EES@ENRON
Sent: Monday, January 22, 2001 4:49 PM
To: Luu, Duong; Nicolay, Christi
Subject: WSPP 4th Quarter 2000 Report
Importance: High

Duong,

Please run one confidential  and one public copy of EPMI's transaction report
for the western region.
Call if you have any questions.

Thanks
Linda
36872


Anthony,

One more change to the schedule 4.13

(1)  #1 of Purchases Global Contract 96016597, is a contract between Altrade
Transaction, LLC and Enron North America Corp and not Houston Pipe Line
Company.  Please change HPL to Enron North America Corp.

	Robert Walker
	05/31/2001 02:15 PM

		 To: awills@velaw.com
		 cc: Anne C Koehler/HOU/ECT@ECT, Barbara N Gray/HOU/ECT@ECT, Dan J
Hyvl/HOU/ECT@ECT, Sandi M Braband/HOU/ECT@ECT, Kimberlee A
Bennick/HOU/ECT@ECT, George Weissman/HOU/ECT@ECT
		 Subject: Changes to Schedule 4.13

Anthony,

There are some changes that need to be made to the Material Contract List,
Schedule 4.13

(1) #57 of the Purchase Contracts contract 96046001 the contract number is
incorrect and should be 96047295

(2) #67 of the Purchase Contracts Global Contract 96051306, the contract
number is incorrect and should be 96051396

(3) #'s 27 and 28  of the Sales Contracts should be deleted from the list.
These are transactions and are being placed under #29 Global contract
96029942.

(4) Item X Newco contract an updated list is shown below.

Global Contract No.	Counterparty
96012228	City of Brazoria
96007529	D&H Gas Company, Inc.
96031541	Entex Gas Marketing Company
96003353	Markham Gas Corp.
96002113	Reliant Energy ) Entex
96004582	Reliant Energy ) Entex
96004597	Reliant Energy ) Entex
96019120	Reliant Energy ) Entex
96016887	Southern Union Company
96016888	Southern Union Company
96001400	TXU Fuel Company
96001402	TXU Fuel Company
96007681	TXU Fuel Company
96002879	Unit Gas Transmission Company Inc.
96060852	Entex Gas Resources Corp.
96004593	Entex Gas Resources Corp

(5) under (b) 2 the following language needs to be added

The Agreement requires consent of GPP's project finance lenders to be
assigned to HPL. This consent is in the process of being obtained.  Pending
receipt of this consent, a contract mirroring the economic terms shall be in
place between HPL and ENA.  This contract also appoints HPL as ENA's agent
for nominations and associated functions.  The credit risks are allocated in
this contract "as if" an actual assignment of the Agreement had been made by
ENA to HPL.  Enron Corp. guaranteed ENA's obligations under the Agreement.  A
substitute AEP guaranty will likely be required in connection with the
consent.

----- Forwarded by Robert Walker/HOU/ECT on 05/31/2001 01:08 PM -----

	Kimberlee A Bennick
	05/31/2001 11:29 AM

		 To: Robert Walker/HOU/ECT@ECT
		 cc:
		 Subject: Revised Schedules

----- Forwarded by Kimberlee A Bennick/HOU/ECT on 05/31/2001 11:28 AM -----

	"Wills, Anthony" <awills@velaw.com>
	05/29/2001 03:46 PM

		 To: "Kimberlee Bennick (E-mail)" <Kimberlee.A.Bennick@enron.com>, "Bob
Walker (E-mail)" <Robert.Walker@enron.com>, "Anne Koehler (E-mail)"
<anne.c.koehler@enron.com>, "Barbara Gray (E-mail)" <barbara.n.gray@enron.com>
		 cc: "Collins, Christopher" <chriscollins@velaw.com>
		 Subject: Revised Schedules

Attached are the following documents:

1.  Revised clean version of the Schedules to the PSA
2.  Marked version of the Schedules to the PSA
3.  Revised Appendix 4.19(b)
4.  Schedule 1.1(a)

Please note appendix 4.19(b) and schedule 1.1(a) are attached as separate
documents due to technical difficulties in incorporating them into the
master list of schedules.  Also, according to Tanya Rowhauer, the guaranty
agreement forwarded to me from Dan Hyvl should not be a part of the
schedules.  After your review of the attached please call me with your
comments.

Regards,
Anthony C. Wills
Vinson & Elkins, L.L.P.
2300 First City Tower
1001 Fannin
Houston, TX 77002-6760

713.758-4608 - phone
713.615-5507 - fax

awills@velaw.com

          ++++++CONFIDENTIALITY NOTICE+++++
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and delete this email from your system.  Thank You
 <<v.23 Bidder A Schedules to Purchase and Sale Agreement.DOC>>   <<New
Schedule 1.1a  5-15-01.XLS>>   <<Revised Appendix 4.19(b)  5-29-01.XLS>>
<<Compared version 22 to 23 Schedules to PSA  5-29-01.DOC>>

 - v.23 Bidder A Schedules to Purchase and Sale Agreement.DOC
 - New Schedule 1.1a  5-15-01.XLS
 - Revised Appendix 4.19(b)  5-29-01.XLS
 - Compared version 22 to 23 Schedules to PSA  5-29-01.DOC