You are invited to participate in a meeting to discuss Maverik.  It will be held in Conference Room 4180 on Monday,
July 30th from 4:00 - 5:00 p.m.

Attendees:   Drew Fossum
                   Tony Pryor
	       Kim Wilkie
                   Stephen Dowd
                   Danny McCarty
                   Greg Porter

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

Thanks,

Bonnie Baum for Drew Fossum


Pheasantsrus???  What a great email address!  I'll hang on to us in case ole'
Jim sells us down the river for next year!  Talk to you.  df

"Loon, Douglas" <DLoon@USChamber.com> on 03/12/2001 10:57:57 AM
To: "Drew Fossum (E-mail)" <dfossum@enron.com>
cc:

Subject: birds

This weekend on Tony Dean's Outdoors (the guy from Pierre) they featured a
farm near Kennebec.? It is just South of where we were last year.? They
appear a bit more organized with dogs and real guides.? I thought you might
like their site.? I would guess that they are way more expensive than our
guy, reinforcing our sense that we got a good deal.

http://www.pheasantsrus.com/

Douglas B. Loon
Midwest Regional Office
U.S. Chamber of Commerce
5300 Hyland Greens Drive
Suite 220
Minneapolis, MN? 55437-3933
(952) 832-9151 fax: (952) 832-9454


----- Forwarded by Elizabeth Sager/HOU/ECT on 09/12/2000 09:38 AM -----

	Leslie Hansen
	09/12/2000 09:11 AM

		 To: Elizabeth Sager/HOU/ECT@ECT
		 cc:
		 Subject: Top 5 CPs

Elizabeth:

Per Shari's e-mail, my top 4 CPs are:

1.  NRG Power Marketing, Inc.
2.  Ameren Energy, Inc., as agent for Union Electric Co., Ameren Energy
Generating Company and Ameren Energy Marketing Co.  (successor to Ameren
Services Company)
3.  Carolina Power & Light Company
4.  Florida Power Corporation

Leslie


Just wanted you to know...


Excellent.  Kai will work hard to get you the right deal.  That is the advantage of using him instead of a bank.  He has multiple lenders available to chose from.

Have a good day.

Anne

 -----Original Message-----
From: 	Giron, Darron C.
Sent:	Wednesday, November 14, 2001 8:17 AM
To:	Bike, Anne
Subject:	RE: I have moved, but my Phone has not .....

Thanks.  I wanted to see what refinancing to a 15 year would look like.  I just talked to him.  Things are wierd and I know it must be even worse moving to a new group.  I'm glad you like it over there.  I guess it's just wait and see.

DG

 -----Original Message-----
From: 	Bike, Anne
Sent:	Monday, November 12, 2001 6:01 PM
To:	Giron, Darron C.
Subject:	I have moved, but my Phone has not .....

Darron:

I got your message, but I must have missed you.  Try calling Debbie Delgado @ x39183.  She is the ADMIN who sits next to me.

If you want to just call Kai directly about mortgages, his vital signs are below (just kidding).  The best place to reach him is at 713-816-1300.

Kai Bike
Executive Mortgage & Insurance
6009 Richmond, Suite 125
Houston, Texas  77057

713-783-3400
fax 713-783-9314
Cellphone 713-816-1300
www.execumortgage.com
kaibike@flash.net

See you soon.

How are things in your world ?

Pretty strange to be starting in a new group at such an uncertain time.

I like my group.

Thanks

Anne


Following please find the Weekly Management Report and the Daily Executive
Summary.

EnronOnline Executive Summary for 10/20/00
Transaction Summary
External Transactions Today	2,640
Average Daily External Transactions (30 day Trailing Avg)	2,808
Total Life to Date Transactions	372,472

EnronOnline Daily % of Entity's Total Transactions for 	10/20/00
Enron North America	73%
Enron Europe Limited	31%
GLOBAL PRODUCTS	35%
Enron Metals	14%

EnronOnline Percentage of Total Corporate Transactions
(30 day Trailing Avg)	45%

Gross Notional Value of EnronOnline Transactions	Total
Today	1,877,925,479
MTD	29,722,338,862
LTD	198,414,573,134
Average Daily Notional Value (30 Day Trailing Avg)	1,923,363,137

Notional Revenue from Physical Flows to Date	13,907,358,607

Counterparties, Users, and Products Offered
Counterparties having transacted to date	526
New Counterparties transacting for the first time today	2
Number of Products Offered Today	1,155
Total Number of External Users Logged on Today	2,583
Average # of External Users logged on (30 day Trailing Avg)	2,557

Also attached is the Weekly Public Domain Report, containing information
which is intended for use in presentations or reports which will be seen by
individuals outside Enron.


4.43 by 4.44


Casey,
I reconciled my P&L and I am off from your final P&L number for the month.

I am showing a Profit of ~ $596,000 ? however I flowed approx 68,000 MW which would incur a charge of ($136,000).  Therefore my final P&L number should be ~ $460,000.

Your final showed $341,000.

Please give me a call.

Paul
3-0403


Everyone - updates from testing last week, and communication of information/ going forward.

Thanks to all involved in last weeks testing.  Much has been accomplished.  We did encounter a legal mandated 'test freeze' on Friday given a legal communication came down to halt all data entry/ code changes, but as of Friday evening, it was eventually lifted.  Any unfinished testing can continue.

We've completed:
- Integration testing of 25 transaction type scenarios - from EOL entry, Sitara, TDS, Tagg.  This includes the sample testing of scripts, and the end to end testing to SAP.
- EOL has sent 13 gas and 4 financial transactions through downstream systems.
- Over 50 integration issues identified and resolved!  Majority were data setup issues, but code changes were identified, incorrect hardware being used, reports not running, start-up scripting issues resolved, replication issues resolved.

What's remaining to test and status:
1) EDI testing - Tammy Jaquet, Robert Virnau are expected to complete the EDI test by end of day today (01/28)
2) Financial Settlements/ EOL deals - Mechelle Stevens is completing her verification of EOL deals into Unify.  Testing is expected to complete the EDI test by end of day today (01/28).
3) SAP testing - SAP is still in requirements analysis with regards to GL account setup, profit centers.  A meeting is scheduled for Wednesday afternoon with the UBS, SAP, Netco leads.  SAP testing can be conducted between Unify and within SAP once decisions are determined.

Any other issues we are not aware of, please advise.

Outstanding known issues:
1) Unify custom reports (SQR) not working.  This was not part of integration test, but testing by Kelley Huntley on Friday resulted in failure.  Infrastructure expected to resolve by Monday noon.
2) There is some data setup that is being completed Monday morning and should be complete by now.

Any other issues we are not aware of, please advise.

Going forward:
1) The Netco EOL (or new OLT?) team will be testing all week deals into Netco environments.  You may see these in downstream systems.
2) Analysis of what estate data still resides in Netco, and what needs to be there to go forward.  Namely curve data for EnPower.
3) We will perform regression testing to determine if there are any cross dependency of hardware.  Testing scenarios include:
    a) Application messaging that use Tibco (port, multi-cast addresses)
    b) Estate execution with Netco hardware inactive
    c) Netco execution with Estate hardware inactive

Notice/ FYI - All Netco (UBS) employee's LAN NT user-id's will be changed to a new file server (anticipated Friday 02/01).
The impacts are mainly the O:\ drive, W:\ drive will be split between Estate and Netco.  All authorized (legal) data is being copied now to the new file servers.
For example, if Netco employees need specific files on the O:\ drive, if they are missing, they would have remained with estate.  If you have files in progress, they
may missing the batch file copy which is occurring this week.

Updates to follow later this week!

Regan Smith
Energy Operations Systems
Enron Net Works
713-853-9291 (wk); 281-850-7551 (cell)

-----Original Message-----
From: Smith, Regan M.
Sent: Wednesday, January 23, 2002 8:42 PM
To: Allen, Thresa A.; Anderson, Bridgette; Anderson, Diane; Aucoin, Evelyn; Baker, Natalie; Baxter, Bryce; Bentley, Corry; Bowen, Bob; Brackett, Debbie R.; Campos, Anthony; Campos, Sylvia A.; Dahlke, Andrea; Dawes, Cheryl; Denny, Jennifer; Denton, Rhonda L.; Dupuy, Mark; Elledge, Susan; Engel, Tom; Evans, Casey; Garcia, Clarissa; Gillis, Brian; Hare, Bill D.; Hayden, Frank; Heal, Kevin; Hunter, Larry Joe; Huntley, Kelley; Jaquet, Tammy; Kenne, Dawn C.; Lozano, Melba; Mcginnis, Stephanie; McLaughlin Jr., Errol; Meredith, Kevin; Murphy, Melissa; Price, Wade R.; Reeves, Kathy; Robinson, Rhonda; Rodriguez, Bernice; Schield, Elaine; Schrab, Mark L.; Seib, Dianne; Severson, Russ; Spears, Christopher; Stevens, Mechelle; Sullivan, Patti; Sweitzer, Tara; Theriot, Kim S.; Vander velde, Nikole; Wallumrod, Ellen; Winfree, O'Neal D.; Wynne, Rita; Bharathi, Jaikishore; Brewer, Charles; Chitradurga, Sundar; Cinelli, Steve; Elwood, Richard; Fortney, Bill; Franks, Shawn; Greig, Iain; Henry, Jane Hilburn; Hunter, Wade; Johnson, Jeff; Lim, Francis S.; Martinez, Bob; McKeel, Richard; Nolte, Ron; Pena, Matt; Poston, David; Powell, John D.; Ramesh, Ganapathy; Rao, Ramesh; Saleem, Aftab; Sanvido, Terry; Schmidt, Mark; Schomer, Chris; Smith, Regan M.; Stock, Steve; Clark, Cynthia; Boudreaux, Lori
Subject: Status report of integration testing from Wednesday, Jan. 23rd ; and Thursday's continuation..

Status report of integration testing from Wednesday, Jan. 23rd
    - (16 gas/ power types of transactions to test)

Overall, there were no infrastructure or major application issues.  Unlike the prior testing, we've included many more gas transaction types and testing with all non-essential Netco data removed (aka baseline for Netco go-live).

In today's test, we had numerous data setup related issues  that resulted in downtime (ie EOL- Dynegy information, TGP address information, bad credit counterparty/ contracts,  or database issues with data sync/ replication).   These were mainly attributed to the massive cleanup/ removal of data not needed.  The  remaining issues open are being addressed Wednesday night.

Given the deferred 12:00pm to 2:00pm start time and data setup/ sync issues, we were unable to complete downstream processes (mainly Settlements, confirmations, SAP).

Continuation of testing into Thursday
We are requesting the testers with tasks remaining to complete the script execution Thursday (morning shift and afternoon shifts given UBS offsite meetings).
We will try to balance the testing activities given some will be out in the morning, and some in the afternoon.  The bridgeline will be active from 9 - 5 for communication/ status.

RECAP of where testing left off for Netco and EOL entry.

---> NETCO Deal types (with Netco external gas/power (good & bad credit)
Financial    All financial testing completed!

Power
Wednesday
    - Completed tasks:  Deal Entry, settlement statement group setup, notification, EnPower deal load.  Awaiting settlements drafting issue.
Thursday (remaining & status)
    (1)  DCAF testing ready
    (2) Kelley Huntley to draft invoices after draft issue resolved.

Gas
Wednesday
    - Completed tasks:  Deal Entry in TDS, TAGG/ ERMS, Sitara.  Port Calc

Thursday
    - (Chris Spears) - Transport - The TGP payment methods are now setup.
    - (Clarissa Hanks)  - Transport usage ticket for generic contract is setup (Deal 20000082)
    - ( Wade Price) - To draft invoices after confirmation of activity upstream (pm)
    - DCAF testing after confirmation of activity upstream
    - Need to conduct the EDI test (Tammy Jaquet/ Robert Virnau)

---> EOL Deals (Dawn Kenne has confirmed 4 EOL deals were setup.  2 Gas, 2 Power)

Thursday's plans are to confirm the flow of these deals into  Sitara, Tagg/ EnPower. Followed by eventual confirmations, settlement through Unify and SAP.  These are ready now for validation by Sitara/ Tagg/ EnPower.

Thanks to your continued involvement ...

Regan Smith
Energy Operations Systems
Enron Net Works
713-853-9291 (wk); 281-850-7551 (cell)


Defending Free Markets
The New York Times, 08/22/01
OBSERVER - The right stuff - AVENUE OF THE AMERICAS.
Financial Times, 08/22/01
Power station blast still a puzzle
The Northern Echo, 08/22/01
Panel unable to find meeting point with Enron
The Times of India, 08/22/01
INDIA: ANALYSIS-Poor governance hobbles India's reform drive.
Reuters English News Service, 08/22/01
Calif Senate Panel To Study Muni Utils Pwr Mkt Activities
Dow Jones Energy Service, 08/21/01
Fired Calif DWR Traders Had Access To ISO's Control Room
Dow Jones Energy Service, 08/21/01

Editorial Desk; Section A
Letters to the Editor
Defending Free Markets

08/22/2001
The New York Times
Page 18, Column 5
c. 2001 New York Times Company

To the Editor:
Paul Krugman misunderstands Enron, the people who work here and the botched California regulatory system (column, Aug. 17). The broader goal of his latest attack on Enron appears to be to discredit the free-market system, a system that entrusts people to make choices and enjoy the fruits of their labor, skill, intellect and heart. He would apparently rely on a system of monopolies controlled or sponsored by government to make choices for people. We disagree, finding ourselves less trusting of the integrity and good faith of such institutions and their leaders.
The example Mr. Krugman cites of ''financialization'' run amok (the electricity market in California) is the product of exactly his kind of system, with active government intervention at every step. Indeed, the only winners in the California fiasco were the government-owned utilities of Los Angeles, the Pacific Northwest and British Columbia. The disaster that squandered the wealth of California was born of regulation by the few, not by markets of the many.
KEN LAY
Chairman and Chief Executive
Enron Corporation
Houston, Aug. 20, 2001

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.

OBSERVER - The right stuff - AVENUE OF THE AMERICAS.

08/22/2001
Financial Times
(c) 2001 Financial Times Limited . All Rights Reserved

This year's honour roll of former chief executives is impressive and lengthening. Flemming Lindelov of Carlsberg Breweries left for a decorative arts company, while Jeff Skilling resigned from Enron last week for "personal reasons" and the amiable Michael Bonsignore bade farewell to Honeywell.
While some bosses have been shown the door, there appears to be a separate pattern forming - chief executives leaving prematurely because life at the top is too tough and stressful, raising the question as to whether the modern CEO has the right stuff.
And there is the pressing issue of how activist a board should be in these "transition" issues. Take, for example, Hewlett-Packard directors, several of whom this week swore their allegiance to Carly Fiorina, the chief executive whose fate has been the subject of much speculation.
In venture-capital-backed companies directors have traditionally been active in recruiting and overseeing financial management, taking credit for success and, sometimes, distancing themselves from blame. But in public companies, which have fuller management teams, directors have tended to take a back seat.
According to Roger Kenny, managing partner of Boardroom Consultant, a New York firm that recruits directors and senior management, boards have become more responsive to their company's performance - and are willing to act.
"Institutional investors have been successfully criticising boards for a long time. They have put some fibre in the backbone of the directors," said Kenny.
Directors are now faced with preventing or mitigating CEO disasters. "In the past, boards may have felt beholden to the CEO and been willing to overlook mistakes, giving him time to right the ship. Today, a sense of urgency often pervades board meetings when performance slips," he added.
Take the case of Lucent. "If Lucent's board had removed its CEO earlier in the game, would the company be in better shape today?" asks Kenny. Or Xerox. "Should Xerox's board have demanded more information about strategic execution from the new CEO before the strategy foundered?"
There are no sure answers but the short period that many CEOs remain in the job - on average four years - suggests it is tough to satisfy shareholders and directors, particularly during a downturn.
"One of the great revelations of the past year has been the capacity of a CEO to destroy value in a very short period of time," said David Nadler, chairman of Mercer Delta Consultants.
Boards need to act pre-emptively to reduce the risk of a meltdown. The trick lies in the timing. Some say boards should give CEOs more time because the economy can be blamed for failure. Others argue they should give the CEO less time because the economy makes the situation perilous and there is no time to lose.
"Boards struggle to balance acting swiftly (to prevent Lucent-like situations) and not jumping the gun," said Kenny. "It's a fine line, especially during economic downturns such as the current one."
Kenny says there are a number of steps a board can take to prevent CEO failure, including becoming involved in CEO succession and doing "whatever it takes" to become familiar with the company's core business strategy.
And tradition is important. The Hewlett-Packard directors insisted that Fiorina was faithful to the founders' dream - until then, there had been outside speculation that, for Fiorina, it would be the HP way or the highway.
(c) Copyright Financial Times Ltd. All rights reserved.
http://www.ft.com.

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.

Power station blast still a puzzle
Chris Brayshay

08/22/2001
The Northern Echo
13
Copyright (C) 2001 The Northern Echo; Source: World Reporter (TM)

SAFETY inspectors investigating a power station explosion which killed three workers have so far found no evidence of mechanical failure.
Andy Sherwood, 36, and Darren Higgins, 28, caught the full brunt of the blast in a transformer at Enron's Teesside Power Station at Grangetown, Middlesbrough, on August 8 and could only be identified from dental records.
Colleague Lawrence Surtees, 40, died in hospital the next day after suffering near 100 per cent burns. Graeme White, 37, is being treated in hospital for moderate burns.
The dead men were carrying out maintenance on the transformer at the time of the explosion.
Vera Baird, MP for Redcar, has discussed the situation with Ian Waugh, the Health and Safety Executive (HSE) inspector in charge of the team investigation. She said: "I said when this appalling tragedy occurred that I would monitor the investigation on behalf of my constituents and I have been told that the investigation has established that the cause was the explosion of a transformer.
"I am assured that there is no fundamental hardware problem with the equipment used on the site that would be likely to cause a repetition and this will be reassuring for the people who live and work nearby."
Less that a week after the funeral services of the men who died, the MP has revealed that all interviews and investigations of equipment are complete and Mr Waugh is waiting for his inspectors to write their reports, which ought to take about four weeks.
Mr Waugh will then review their findings and his final report will be sent to the Teesside Coroner.
A copy of the report will also be sent to Cleveland Police who set up a joint investigation with the safety inspectors.
Mrs Baird's reading of the team's findings so far went unchallenged by Government sources last night, who added that the team reserved the right to return to the plant for a re-examination if something cropped up in the reports which required further investigation.
A spokesman for Enron said: "Assurances about the safety of Teesside Power Station have been given by the site operator - Enron - to local residents and industrial neighbours over the past few days as the process of restarting the plant was carried out.
"The company is not be commenting on any possible cause of the incident on August 8 and will not be drawn in at this stage as the investigation by the HSE remains incomplete."

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.

Panel unable to find meeting point with Enron
Seema Kamdar

08/22/2001
The Times of India
Copyright (C) 2001 The Times of India; Source: World Reporter (TM)

MUMBAI: The Enron renegotiation committee, which is expected to submit its report soon, has been unable to find a meeting point with the multinational over any of the issues discussed during its meetings.
According to sources, the meetings with Enron were doomed right from the word go, since Enron disagreed with most of the suggestions made by the committee. This could have to do with the energy major having already decided to exit the plant and not wanting to make any further compromises.
To begin with, the committee wanted to scale down the tariff from over Rs 4 per unit to Rs 2.07 per unit. This was not acceptable to Enron, which was willing to settle for not more than a 10 per cent reduction in tariff.
Enron representatives told the panel that its landed cost of LNG alone worked out to Rs 2.11 per unit in power tariff. Even the offer made by states outsides Maharashtra to buy Enron power could not meet with a consensus, sources said.
Among the states which approached the panel to buy Enron power were Delhi, MP, UP, Rajasthan, Punjab, and Karnataka. However, Enron found the purchase rates which ranged from Rs 1.50 to Rs 2.50 impractical.
The committees demand to remove the dollar denomination in tariff was rejected outright by Enron on the grounds that its international lenders would never agree to accept returns in Indian currency. A debt moratorium for five years, as suggested, was also ruled out.
Enron was asked to bring down interest rates on its debt component to less than 12 per cent. This was ruled out by the multi-national which claimed it was less than the cost of its borrowings. While the projects Indian lenders agreed last year to cut interest rates from 21.5 per cent to 16 per cent, its international lenders charge nine per cent in dollar terms.
Enrons return on equity too has hovered around a low of 12 per cent, since the past two years, lower than the interest on its debt.
With a view to reducing the liability of the cash-strapped Maharashtra State Electricity Board (MSEB), the renegotiating committee suggested that the Dabhol plant be operated at a lower plant load factor (PLF) of 30 per cent. The PLF is a major bone of contention between the two parties, since the state says it does not need power at a 90 per cent PLF and since tariff is predicated on a PLF of 90 per cent in the power purchase agreement, irrespective of the actual offtake.
It is learnt that Enron was asked to operate the plant at 30 per cent PLF from 2002 and scale up to 68.5 per cent in 2007 to offset the huge tariff burden on MSEB. This proposal was unpalatable to Enron.
Another proposal which was turned down by Enron was the suggestion that the returns on its equity be trimmed to 16 per cent in rupee terms at 68.5 per cent PLF. As of now, the DPC gets 16 per cent returns at 68.5 per cent PLF in dollars with a 0.7 per cent incentive for every one per cent increase in the PLF.
According to sources, the committee discussed abolishing the incentive component, bringing down PLF, and pegging return in Indian currency. With the multi-national mouthing a firm No to most of the proposals, it remains to be seen how the Godbole report will be implemented and whether the state will see yet another round of protracted litigation on the controversial project.

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.

INDIA: ANALYSIS-Poor governance hobbles India's reform drive.
By Alan Wheatley, Asian Economics Correspondent

08/22/2001
Reuters English News Service
(C) Reuters Limited 2001.

NEW DELHI, Aug 22 (Reuters) - After six months of political stalemate, the rave reviews for Finance Minister Yashwant Sinha's reforming budget have given way to the despairing conclusion that perhaps India embraces change only in a crisis.
In which case, a new wave of reforms might not be far away.
For unless growth picks up substantially from last year's 5.2 percent pace, policy experts said India would face a further deterioration in its public finances and rising unemployment that could put the world's largest democracy under serious strain.
"We can't go on without further reforms for very long because we won't be able to grow even by five percent," said Shashanka Bhide, chief economist of the National Council of Applied Economic Research.
"So the crisis is already there. If we're not going to get six percent-plus growth rates, then it's a political problem."
There is a broad consensus - on paper - on the need for a second wave of reforms to build on ground-breaking liberalisation measures rushed in after a balance-of-payments crisis in 1991.
Because its economy is fairly closed, India has weathered the current global downturn much better than most of its Asian neighbours, who would be delighted with five percent growth.
Still, output has slowed for two years in a row as post-reform momentum has petered out. And crucially, five percent growth falls far short of the 8.7 percent average needed over the next decade to achieve Prime Minister Atal Behari Vajpayee's goal of doubling per capita income, currently around $460 a year.
"Eight million people come into the workforce every year and a five percent growth rate would leave large numbers of people unemployed, which means there will be greater social unrest," said P Chidambaram, a former finance minister.
"A five percent growth rate, while statistically acceptable, is simply politically unacceptable and socially unacceptable."
COMPETITIVE POLITICS
It was to raise the economy's speed limit that Sinha unveiled in his February budget a raft of far-reaching structural reforms making it easier to fire workers and rolling back the policy of reserving certain industries for small and medium-sized firms.
The reforms are high on the list of the many blueprints for change in India but they soon became mired in what the Planning Commission aptly calls the "compulsion of competitive politics".
On a charitable view, the slow progress is a reflection of the wondrous kaleidoscope that is India's multi-party democracy.
"This is not a country, this is a vast continent in search of a synthesis in the political domain, the social domain and the economic domain," said Amit Mitra, secretary general of the Federation of Indian Chambers of Commerce and Industry.
Less charitably, the legislative paralysis is due to the failure by an enfeebled Vajpayee to crack heads in his unwieldy 19-party coalition and force ministers to put the national interest before the myriad vested interests opposed to change.
Arjun Sengupta, a professor at the Centre for Policy Research, said the absence of a unified agenda meant each member of the coalition was ploughing its own furrow, resulting in policy inconsistency that was deterring badly needed investment.
"This is the main problem we have today: we do not have a coherent, unified policy framework," Sengupta said.
He said the reform task facing the government was all the more difficult because India's most populous and backward states were falling farther and farther behind the better-off ones.
"If the Centre cannot take care of the problems of disparity between the states, we are facing major problems which can become explosive," Sengupta, a former ambassador and IMF official, said.
Peering through the gloom, optimists point to the precedent of legislation passed without the pressure of a crisis in 1999 to open up India's insurance market to foreign firms.
They hope two equally controversial reform bills, to liberalise the crisis-ridden power sector and to make it easier to wind up bankrupt firms, will also eventually become law after they won cabinet approval last week, ending months of wrangling.
"Anybody who says reforms have been a failure in this country hasn't looked at figures on poverty very closely," said Planning Commission member N.K. Singh. He said the poverty rate had fallen in the past decade to 27 percent from 37 percent.
REFORM PRIORITIES
The list of reforms needed to sustain this improvement is lengthy. Because of its pivotal role in the economy, the power sector is many experts' number one priority. The well-catalogued troubles that foreign firms such as Enron Corp have encountered dealing with India's all-but-bankrupt state power boards have flashed warning signals to potential foreign investors.
Domestic investors have also been deterred because industrial users pay twice as much as they would in China for electricity.
Nevertheless, attempts at serious reform have foundered on twin political rocks: how to end overmanning at the power boards, estimated at 50-70 percent, and how to charge users, mainly farmers, market rates for stolen or heavily subsidised power.
D.K. Srivastava, a professor at the National Institute of Public Finance and Policy, said politicians might consider tough measures if they could be assured that benefits would be visible before they have to seek re-election two or three years later.
"Any government under any minister will say to you, How can I survive unless I can show my voters jobs?'," Srivastava said. "This is one of the basic constraints on power sector reform."
T.K. Bhaumik, a senior adviser at the Confederation of Indian Industry, agreed and said reformers were partly to blame for having failed to sell the case for change to India's mass poor.
"We did not articulate the economic reform process to the people," Bhaumik said. On privatisation, for instance, policy-makers did not spell out the consequences for jobs.
"I don't think we really understood the issues properly. We simply followed the Washington consensus and that didn't go down well with the people," he said.
As Divestment Minister Arun Shourie knows only too well. The privatisation programme he oversees, a litmus test of India's reform will, is stalled because of what Shourie calls "fractured" politics and "noise" generated by corporate interests.
Shourie said he could only hope that fading growth would jolt India's politicians into putting the country's interests first.
"We're on the cusp at the moment on the question of reforms and I feel the real circumstances in which India is placed will force the political class to do the right thing," he said.

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.

Calif Senate Panel To Study Muni Utils Pwr Mkt Activities

08/21/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

LOS ANGELES -(Dow Jones)- A California Senate committee investigating electricity market manipulation in the state will continue its activities past the legislature's Sept. 14 adjournment date, and will look into prices charged by municipal utilities as well as by private generators, said committee Chairman Joe Dunn, D-Santa Ana, Tuesday.
"We had to prioritize who we would investigate first. We started with generators, then expanded to traders and we're also going to look at the state's utilities. We've already made document requests of the Los Angeles Department of Water and Power and the Sacramento Municipal Utility District," Dunn said.
Dunn said the LADWP hasn't provided all documents to the committee, though they have indicated they are happy to cooperate.
"It's taken LADWP a while. It doesn't seem to be the case that they are withholding those documents, though we don't have them all," Dunn said.
No one at LADWP was available to comment on the matter.
The Senate Select Committee to Investigate Market Manipulation has cited Enron Corp. (ENE) and Reliant Energy (REI) with contempt for refusing to provide certain documents. If the full Senate approves those contempt charges, the companies could be punished, most likely with fines.
A study by trade group Independent Energy Producers Association found that Reliant and Enron Power Marketing Inc. charged the state's power-buying arm less than the average price of $269 a megawatt-hour for electricity in January through March. The LADWP and SMUD charged more than the average.
The committee's next hearing will be in the first week of September, Dunn said. Hearings throughout the fall will concentrate on depositions, he added.
-By Jessica Berthold, Dow Jones Newswires; 323-658-3872; jessica.berthold@dowjones.com -0- 22/08/01 01-17G

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.

Fired Calif DWR Traders Had Access To ISO's Control Room
By Bryan Lee

08/21/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

OF DOW JONES NEWSWIRES

WASHINGTON -(Dow Jones)- Four of the five California Department of Water Resources power traders fired last month for conflict of interest reasons had access to the state electricity grid operator's control room.
That revelation was contained in a recent letter to the House Government Reform Committee from Terry Winter, the California Independent System Operator's president and chief executive.
The letter responded to House lawmakers' concerns, voiced during an Aug. 2 hearing, about DWR power traders having access to the ISO's control room floor and the wealth of market-sensitive information available there.
Rep. Doug Ose, R-Calif., who chairs the committee's energy policy panel, said access to the ISO's control room allowed DWR traders to "cherrypick" power purchases, and led federal regulators to exclude DWR purchases from consideration in a recent landmark refund order.
The five fired DWR traders owned stock in Calpine Corp. (CPN), a major power provider in California.
The four fired DWR employees with access to the ISO control room were William Mead, Herman Leung, Constantine Louie and Peggy Chung. The fifth, Richard Ferreiro, wasn't among those Winter listed as having control-room access. Neither did Elaine Griffin, who resigned after it was learned she owned Calpine stock.
They were among 14 DWR employees who had their control-room access privileges terminated by the ISO over the past two months. The others had their badges deactivated because they either hadn't filed necessary confidentiality statements or hadn't been using their badges to access the ISO control room, said Stephanie McCorkle, an ISO spokeswoman.
Nine DWR power traders still enjoy access to the ISO control room, according to Winter's letter to Ose. Among them is Bernard Barretto, who reportedly owns stock in Enron Corp. (ENE).
Steve Maviglio, a spokesman for California Gov. Gray Davis who recently sold Calpine stock after conflict-of-interest concerns were raised, said earlier this month that Barretto's investment met state ethics rules because Enron wasn't making sales in the spot market, where the DWR employee was involved in making power purchases.
DWR employees' investments are "thoroughly reviewed" to make sure there are no conflicts, DWR spokesman Oscar Hidalgo said. Employees must either divest their stock or recuse themselves from deals that involve their financial interests, Hidalgo said.
An Ose spokesman, Yier Shi, said the congressman believes the arrangement has worked against the interests of California consumers.
"It's pretty obvious that it isn't in the interest of California consumers, the DWR or the ISO to have that conflict of interest in the power-purchasing process," Shi said.
"Why is DWR getting preferential access? That's the core issue," Shi added.
Allowing DWR power traders into the ISO control room is "a real conflict because DWR is the major buyer in the state," said Lynne Church, president of the Electric Power Supply Association, whose members include many of the companies that own power plants in California.
"Having access to the control room gives them intelligence on what sellers into shorter-term markets are charging, (including) what's being sold and to whom," Church said.
"Any kind of buyer or seller would give their eye teeth for that kind of access," she said, noting that no other grid operator in the country allows that sort of access. "It's just unconscionable for them to have that kind of access to market intelligence."
During the Aug. 2 hearing that Ose chaired, Winter agreed that having DWR employees in the control room was a problem. The ISO is "working very hard to get them out," he said.
The access was provided back in January, after the DWR was forced to begin purchasing what since then has amounted to about $10 billion in power on behalf of the state's bankrupt and near-bankrupt investor-owned utilities, Pacific Gas & Electric Co. (PCG) and Southern California Edison Co. (EIX).
Power providers were balking at continuing to sell power to California unless they were assured of creditworthy buyers. And the DWR refused to take on the responsibility unless the ISO granted the agency access to the control room, Winter told Ose's subcommittee.
The arrangement was necessary to avert imminent blackouts, he said.
The DWR will withdraw its employees from the ISO control room effective Sept. 1, Pete Garris, who oversees power purchases for the DWR, announced over the weekend.
"It wasn't our intent to be there on a permanent basis," said Hidalgo, the DWR spokesman, who described the privilege as "a temporary move to keep the lights on."
Now that the state's electricity crisis has lessened, the DWR's "goal" is to have the traders out of the ISO control room by Sept. 1, Hidalgo said.
"We're pleased to see that the DWR is working toward resolving its conflict of interest problems with the ISO," said Shi, the Ose aide. "We hope this change of policy isn't too little too late for California consumers to win refunds."

-By Bryan Lee, Dow Jones Newswires; 202-862-6647; Bryan.Lee@dowjones.com

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.


Congratulations on the move!  Its great to see a reorg that actually seems to
make so much sense!  Thanks again to you and Terry for watching the three
stooges on Saturday night.  It was great seeing you guys again and getting
the kids a chance to play for a while.  We'd love to return the favor next
time you come up to Omaha--the weather is getting real nice right about
now!!  DF
---------------------- Forwarded by Drew Fossum/ET&S/Enron on 12/05/2000
05:17 PM ---------------------------

	From:  Rick Craig                           12/05/2000 05:06 PM

Sent by: ETS General Announcement
To: Enron Transportation Services Operations, Enron Transportation Services
Human Resources
cc:

Subject: ETS on the Move...

Effective immediately, Joe Jeffers, Manager of Technical Training and Skill
Based Pay Administration, and his team of Dick Heitman, Cliff McPherson,
Andrea Woody and Lupi Trevino will move from ETS Human Resources to ETS
Operations Technical Services.  Joe will report to Steve Klimesh.

This move will better align Technical Training and SBP Administration with
Operations and enhance the interfaces that take place between this group and
ETS Operations management and the field teams.

Joe and his team have provided outstanding support to Operations in the past,
and it is expected that this high standard of customer service will
continue.  We will be sending more information in the very near future with
regard to the individual support accountabilities of the team members.

Please join me in welcoming this team and helping to make their transition a
smooth one.


Attached is your Friday, November 16 edition of the S&P Marketscope. Please feel free to contact us if there is anything we can help you with.

Thanks,
Hank Emery
Emery Financial Group
of First Union securities
Rocky Emery-Managing Director
713-853-2400


If you have not yet had the opportunity to enroll for the 2002 CFA exam, AIMR is pleased to announce that you now can do so electronically through the AIMR Web site at http://www.aimr.org/cfaprogram/index.html.

The next enrollment deadline is 3 December 2001 and, as a reminder, this year AIMR must RECEIVE your enrollment form and payment by the deadline date.

Many CFA candidates have inquired about the status of the New York Society, which had its office in the World Trade Center. We are happy to report that all NYSSA staff escaped safely on 11 September, that the organization is relocating to midtown Manhattan, and that is up and running with a full slate of educational programs. Visit http://www.nyssa.org for information about NYSSA's Fall and Spring continuing education and CFA review courses, and seminars.


No,  I was waiting for you to tell me if Cutter  agreed  to the revisions,
and  I needed to  discuss revisions w/ Jeff Hodge for approval.   I will send
the agreement today pending your reply. Also,  there needs to be included
into Article 1. the following:

(after "Term") provided this Agreement shall continue to apply to all
Transactions then in effect until all Transactions are completed.

Article3.  delete "Exclusive Commitment and Representations and Warranties".

Please advise.

Thanks!

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


Congratulations, Bob and Michelle! Jim

 -----Original Message-----
From: 	Williams, Robert C.
Sent:	Wednesday, March 28, 2001 2:25 PM
To:	Walls, Rob; Haedicke, Mark; Sanders, Richard; Derrick Jr., James
Cc:	Blaine, Michelle
Subject:	Argentina Stamp Tax

In response to a "test case" declaratory judgment lawsuit filed by TGS (with our input) over one year ago, the Supreme Court of Argentina today issued an order enjoining the province of Santa Cruz from enforcing its stamp tax levy pending a full hearing and ruling by the Court on the legality of the stamp tax.  Although this is not a ruling on the merits, it does indicate how the Supreme Court is leaning, at least for the present.  This is a very significant victory for TGS and, if the Court continues in this direction, will result in TGS being relieved of stamp tax liability (approximately $650 million).  A great deal of the credit for this goes to Michelle Blaine, who worked with the TGS lawyers on the filing.  Please call me or Michelle with any questions.


PLease look into the title change we discussed.

Thanks,

Doug


Travis
----- Forwarded by Mark E Haedicke/HOU/ECT on 02/08/2001 05:09 PM -----

	"JOHN G KLAUBERG" <JKLAUBER@LLGM.COM>
	02/08/2001 04:45 PM

		 To: Mark.E.Haedicke@enron.com
		 cc:
		 Subject: [ENRON LETTERHEAD]

"This e-mail, including attachments, contains information that is
confidential and it may be protected by the attorney/client or other
privileges.  This e-mail, including attachments, constitutes non-public
information intended to be conveyed only to the designated recipient(s).  If
you are not an intended recipient, please delete this e-mail, including
attachments and notify me by return mail, e-mail or by phone at 212
424-8125.  The unauthorized use, dissemination, distribution or reproduction
of the e-mail, including attachments, is prohibited and may be unlawful.

John Klauberg
LeBoeuf, Lamb, Greene & MacRae, L.L.P.
212 424-8125
jklauber@llgm.com

 - 7V%001!.doc


Jim and Gary,

I would change the $64 million to $45.6 million for Rate & Currency.  The $45.6 is after consideration of the collateral posted for GSCM.

I have not included CIBS and J. Aaron which will require more time because it includes trading positions from several other Enron groups and significant collateral has been posted.  If you do want to include, I would list as 3.3 using a pro-rata spread of the collateral and list separately as harder to get.

We have other positive position where Enron is net negative or more collateral has been posted (e.g JPM).

The Broker Deposit number for Equity Trading should be removed.  We only have about 160,000 left to get back currently.

Sheila

$ in millions	Rate & Currency
	MTM and
	Net A/R and A/P		Net

Goldman Capital Makets	34.8	17.2  collateral; 50% attibuted to R&C; 50% to weather	26.3
RBC	14.2		14.2
SEB	4.2		4.2
WLB	0.9		0.9
Subtotal	54.1		45.6

CIBC	2.0	collateral posted 9.9	Total Enron postion Est. 37.5
J. Aaron	4.8	collateral posted 11.2	Total Enron postion Est. 17.9
Subtotal	6.8

Postive R&C total with Positive Enron Total	60.9


I have been meaning to let both of you know the status on this matter.  There
have been no more calls for additional meetings w/ McConnell.

The last cargo delivered went in with no problems.  We had some doubts that
(i) the tanks would hold all of the barrels because the plant had not been
running as scheduled, and (ii) that the testing would turn out to be on
spec.  As it turned out, the cargo tested on spec, and was discharged without
any demurrage.  ECTRS even made some money on the deal (not a lot, but
some).

And the attached is the latest on our efforts to get the specs issues
addressed by Siemens.
Regards,
Janice

EB3861
Assistant General Counsel, Enron North America Corp.
713-853-1794 (Fax:  713-646-4842)
----- Forwarded by Janice R Moore/HOU/ECT on 11/14/2000 05:38 PM -----

	Michael L Brown@ENRON
	11/14/2000 05:32 PM

		 To: Robert C Williams/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
		 cc: John L Nowlan/HOU/ECT@ECT, Janice R Moore/HOU/ECT@ECT, David A
Terlip/Corp/Enron@Enron
		 Subject: Siemens Fuel Specs

Bob,
     See note below fyi.
Regards,
Mike
---------------------- Forwarded by Michael L Brown/Corp/Enron on 11/14/2000
05:35 PM ---------------------------

Michael L Brown
11/14/2000 05:27 PM
To: jonrusse@skyinet.net
cc: RBTantoco@firstgas.com.ph, Victor
Santos/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT

Subject: Siemens Fuel Specs

Jon,
     Based on a telecon this morning with Victor Santos, it is my
understanding that you are quite upset because we have contacted Siemens
directly to discuss certain liquid fuels specifications.  If correct, I find
this reaction to be puzzling as you and I had previously discussed the fact
that I would attempt to establish a dialogue with Siemens for the purpose of
expediting their positive response to the ECTRS request of September 12,
2000.   We also understand that you believe the person identified for us to
contact at Siemens may have a negative bias towards FGPC and that our direct
approach is likely to be counterproductive.    Although we have spoken with
the Siemens-Westinghouse representative in Houston,  we have yet to establish
a dialogue with the Siemens person referred to above.
     More than two months have passed since our original written (urgent)
request to FGPC and the status of this request within the Siemens
organization is unclear.    As of today we remain uncertain about whether the
appropriate contacts within Siemens beyond Mr Kirschen have been made by
anyone.  Our impression from talking with the Siemens-Westinghouse Houston
representative is that the ECTRS request has not yet been seen by anyone in
Germany.
     Our objective is to resolve the ECTRS request in a positive fashion and
as soon as practicable.  In keeping with this objective, we are willing to be
flexible in our approach and would welcome your ideas.  Please bear in mind
that an affirmative response from Siemens would also have a beneficial effect
for FGPC because ECTRS could then deliver from a wider pool of high quality
condensates.  Perhaps we could have a conference call between you, Ricky,
David and me at noon Thursday Manila time?  The primary purpose of this
conference call would be to clarify your opinion on how best to approach
Siemens and to discuss any other areas that may be of concern to FGPC.
Regards,
Mike


Rita,

I was recently quizzing payroll on why I received two W-2s (which sum in aggregate to my 12/31/01 payroll stub) when I thought had been employed by the same co. (366) all year.  Her records indicated that you had entered a change during the year.  Could you look into why I can listed as having worked for both Enron Operations Services Co & Enron Corp. in 2001?

Shelley Corman
x37083


Out of habit I sent this to Lisa.
---------------------- Forwarded by Kay Mann/Corp/Enron on 11/30/2000 03:13
PM ---------------------------

Kay Mann
11/30/2000 03:11 PM
To: Roseann Engeldorf/Corp/Enron@ENRON, Lisa Bills/Corp/Enron@ENRON, Brett R
Wiggs/SA/Enron@Enron, Lisa Alfaro/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:

Subject: Attached Files

Attached is the first draft of the ESA facility agreement. which I believe is
current through yesterday's discussion.
I would appreciate it if you could forward this to the persons in Transaction
Support and Tax who are working on this transaction.

Thanks,

Kay

---------------------- Forwarded by Kay Mann/Corp/Enron on 11/30/2000 03:05
PM ---------------------------

"Thompson, Peter J." <peterthompson@akllp.com> on 11/30/2000 02:30:37 PM
To: "Kay Mann (E-mail)" <kay.mann@enron.com>
cc: "Pipitone, Paul" <paulpipitone@akllp.com>, "Cobb, Chris"
<chriscobb@akllp.com>

Subject: Attached Files

Attached please find a clean draft of the Enron South America Turbine
Agreement, as well as a blackline showing changes made to the from
document agreed to by GE.

The only additional information that we need to insert into the
agreement is the Agreement Number in Section 6.7.1.

I will send the exhibits in a few moments.
 <<ESA Break-out Agreement Draft of 11/30/00.DOC>>  <<Comparison of
Enron South America Turbine Agreement.DOC>>
 - 00.DOC
 - Comparison of Enron South America Turbine Agreement.DOC


Sold Op 8 stuff to CES (deal 155238)  28th thru 31st.  Bought 28th-31st  from
CPA (deal 155237)


CALENDAR ENTRY:	APPOINTMENT

Description:
	tom wilbeck re: responsibilities of those in 'trader tract'

Date:		1/22/2001
Time:		2:00 PM - 2:30 PM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


mailto:leave-enerfaxdaily-1013476O@relay.netatlantic.com is the unsubscribe address for $subst This email contains both the web and text version. The text version is located at the very end of the newsletter. The web version is available to Outlook users and will take a minute to appear.
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Enerfax Daily
NORTH AMERICA'S FREE POWER AND GAS INFORMATION SOURCE
Wednesday, September 26, 2001 No. 833
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PHYSICAL NATURAL GAS PRICES
Gulf/Eastern Region
| Agua Dulce              | 1.86  |
| ANR SE                  | 1.91  |
| Carthage TG             | 1.90  |
| Chicago Citygate        | 1.97  |
| Columbia Gulf Onshore   | 1.92  |
| Dominion South Point    | 2.22  |
| Henry Hub               | 1.95  |
| Houston Ship Channel    | 1.97  |
| Katy Hub                | 1.92  |
| NGPL - Midcontinent     | 1.82  |
| NGPL STX                | 1.88  |
| NGPL TX/OK              | 1.89  |
| NNG Demarc.             | 1.88  |
| Niagara                 | 2.19  |
| Sonat Tier 1            | 1.92  |
| TCO IPP Pool            | 2.23  |
| Tetco ELa               | 1.98  |
| Tetco M-3               | 2.30  |
| Tetco STX               | 1.94  |
| TGP Zone 0              | 1.90  |
| TGP Zone 1 500 Leg      | 2.00  |
| TGT Zone SL             | 1.94  |
| New York Citygate       | 2.31  |
| Transco Station 65      | 2.06  |
| Transco Zone 6 (NY)     | 2.32  |
| Trunk ELa               | 1.87  |
| Western Region
| California Border       | 1.80  |
| El Paso Permian         | 1.71  |
| El Paso San Juan        | 1.30  |
| Waha Hub                | 1.78  |
| Canadian/Rockies Region
| Nova/Aeco (C$/gig)      | 2.55  |
| Dawn Hub/Union          | 2.16  |
| Northwest Stanfield     | 1.30  |
| Wyoming Pool            | 1.22  |
| Opal/Kern River         | 1.19  |
| PGT-Malin               | 1.45  |
| Sumas                   | 1.29  |
        Flow Date 09/26
---------------------------------------------

And now there's FASB 133.

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--------------------------------------------
NATURAL GAS FUTURES
Henry Hub
12 Month Strip  2.7447  +0.0504
18 Month Strip  2.9106  +0.0583
| Month | High  |  Low  | Close | Change |
| OCT   | 1.970 | 1.880 | 1.925 | +0.015 |
| NOV   | 2.350 | 2.260 | 2.300 | +0.010 |
| DEC   | 2.730 | 2.650 | 2.690 | +0.030 |
| JAN   | 2.930 | 2.855 | 2.895 | +0.042 |
| FEB   | 2.925 | 2.860 | 2.893 | +0.048 |
| MAR   | 2.885 | 2.820 | 2.860 | +0.057 |
| APR   | 2.820 | 2.760 | 2.803 | +0.063 |
| MAY   | 2.850 | 2.810 | 2.828 | +0.063 |
| JUN   | 2.890 | 2.850 | 2.880 | +0.065 |
| JUL   | 2.940 | 2.890 | 2.926 | +0.067 |
| AUG   | 2.975 | 2.930 | 2.968 | +0.067 |
| SEP   | 2.980 | 2.930 | 2.968 | +0.063 |
-------------------------------------------------------------

Natural Gas Futures Up Slightly on Short-Covering

    Natural gas for October delivery on the NYMEX ended the day up $0.015 to $1.915 as the market awaits the AGA storage data due out today. The November contract gained $0.025 to $2.30 per MMBtu. The market managed to recover partially from Monday's sell-off in active pre expiration trading. Much of the gain was due to a late session short-covering rally, and short term traders expect a nominally higher open today. The locals are still wanting to push prices lower to a target of $1.80. There is just a negative bias to natural gas, as well as all the energies right now. There is just no demand, and the long term weather forecasts are not promising. The October contract expires today and has lost 25% over the past 6 sessions. NYMEX continues to hold abbreviated floor trading sessions this week. The natural gas open outcry sessions runs from 10:30 AM to 1:45 PM EDT, except today when the close will be extended until 2:45 PM to allow trading after the release of AGA storage data about 2:00 PM. Look for and an injection of  70 - 80 Bcf to be reported for last week. A year ago inventories rose 77 Bcf, and on average over the last 5 years, stocks have gained about 72 Bcf this week. Total inventories of 2.757 Tcf are 432 Bcf, or 19% higher than a year ago, and 248 Bcf above the 5-year average. NOAA expects 25 CDDs for this week, which would be 7 below normal and 9 below a year ago, and could mean another large build in next week's AGA report relative to the year-ago figure, particularly with spreads to winter still encouraging injections. However, storage is about 87% full and will soon begin filling up. The latest National Weather Service forecast for early next month calls for below normal weather along the East Coast, extending into East Texas, and above normal from eastern California into the upper Plains. Natural gas for next day delivery across the US and Canada was generally flat to down $0.05 per MMBtu yesterday. Natural gas for next day delivery at the Henry hub dipped $0.05 to a new 22-month low of $1.94 per MMBtu.
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---------------------------------------------------------
POWER FUTURES
| Month |   COB   | Change |   PV    | Change |
| OCT   |  33.00  | +0.00  |  31.50  | +0.00  |
| NOV   |  31.50  | +0.00  |  34.00  | +0.00  |
| DEC   |  33.50  | +0.00  |  38.00  | +0.00  |
| JAN   |  32.50  | +0.00  |  37.50  | +0.00  |
| FEB   |  31.50  | +0.00  |  35.00  | +0.00  |
| MAR   |  31.00  | +0.00  |  33.00  | +0.00  |
| APR   |  32.00  | +0.00  |  33.50  | +0.00  |
| MAY   |  36.00  | +0.00  |  33.50  | +0.00  |
| JUN   |  42.00  | +0.00  |  33.50  | +0.00  |
| JUL   |  52.00  | +0.00  |  44.00  | +0.00  |
| AUG   |  57.00  | +0.00  |  44.00  | +0.00  |
| SEP   |  44.50  | +0.00  |  44.00  | +0.00  |
| Month | Entergy | Change | Cinergy | Change |
| OCT   |  24.15  | +0.00  |  25.85  | +0.00  |
| NOV   |  24.20  | +0.00  |  26.10  | +0.00  |
| DEC   |  25.90  | +0.00  |  27.50  | +0.00  |
| JAN   |  27.50  | +0.00  |  29.50  | +0.00  |
| FEB   |  27.50  | +0.00  |  29.50  | +0.00  |
| MAR   |  27.25  | +0.00  |  27.75  | +0.00  |
| APR   |  27.25  | +0.00  |  27.75  | +0.00  |
| MAY   |  29.75  | +0.00  |  31.25  | +0.00  |
| JUN   |  39.00  | +0.00  |  41.25  | +0.00  |
| JUL   |  50.00  | +0.00  |  54.75  | +0.00  |
| AUG   |  50.00  | +0.00  |  54.75  | +0.00  |
| SEP   |  26.00  | +0.00  |  28.15  | +0.00  |
-----------------------------------------------------------
POWER FUTURES
| Month |  PJM  | Change |
| OCT   | 29.70 | +0.00  |
| NOV   | 28.90 | +0.00  |
| DEC   | 32.00 | +0.00  |
| JAN   | 36.00 | +0.00  |
| FEB   | 36.00 | +0.00  |
| MAR   | 32.50 | +0.00  |
| APR   | 32.50 | +0.00  |
| MAY   | 33.75 | +0.00  |
| JUN   | 44.25 | +0.00  |
| JUL   | 59.75 | +0.00  |
| AUG   | 59.75 | +0.00  |
| SEP   | 32.00 | +0.00  |
------------------------------------------------------------

FERC ALJ Postpones California Deadline

    A FERC ALJ has postponed until March 8th the deadline for issuing a report on whether California is entitled to refunds of $9 billion for wholesale power purchases when prices soared in the past year. The judge abandoned his earlier plan to issue a final report in November. The report's recommendations will be considered by FERC commissioners for any further action. Last July, the commissioners ordered a 45-day mediation period for California and the power suppliers to negotiate a compromise. But the clock will not start ticking for that 45-day period on December 7th, when all evidence has been submitted by the California ISO and the California PX, the judge said. He extended the deadline for finishing the case after agreeing to give the California ISO, and the now-defunct California PX more time to analyze market prices during the disputed refund period. The extension is needed by the California ISO to use a sophisticated computer model to analyze and calculate wholesale power prices from October 2000 through January 2001.
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Natural Gas Options
|       | Closing | Days | Implied ATM |
| Month |  Price  | Left | Volatility  |
| NOV   |  2.300  |  32  |   70.45%    |
| DEC   |  2.690  |  64  |   63.66%    |
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main phone number:  1 510-548-6200
email address: info@fea.com <http://info@fea.com/>
---------------------------------------------------
PHYSICAL POWER PRICES
|            | High  |  Low  | Average |
|            | $/MWh | $/MWh |  $/MWh  |
| Cinergy    | 17.90 | 16.00 |  17.70  |
| ECAR       | 20.30 | 18.95 |  19.80  |
| ERCOT      | 19.00 | 17.75 |  18.00  |
| Entergy    | 17.40 | 15.50 |  16.95  |
| TVA        | 21.70 | 20.15 |  21.10  |
| ComEd      | 19.00 | 17.60 |  18.10  |
| Nepool     | 41.50 | 40.75 |  41.25  |
| PJM West   | 25.30 | 25.00 |  25.15  |
| Main       | 18.50 | 17.40 |  17.95  |
| MAPP       | 17.25 | 15.50 |  16.75  |
| Palo Verde | 29.50 | 25.50 |  26.90  |
| Mid C      | 20.00 | 18.50 |  19.25  |
| COB        | 21.50 | 19.75 |  20.55  |
| 4 Corners  | 27.00 | 26.00 |  26.50  |
| Mead       | 28.50 | 26.00 |  27.10  |
| NP 15      | 27.50 | 23.00 |  24.30  |
| SP 15      | 27.50 | 23.50 |  25.05  |
----------------------------------------------
                                             NESA
                          National Energy Services Association
                             Contact us at 713/856-6525
                                 <http://www.nesanet.org/>
 --------------------------------------------------------

Power Generation Sales

Increase your sales of power generation equipment. Attend Gas Technology
Institute's Advanced Natural Gas Power Generation Workshop for natural gas sales/marketing professionals, October 29-November 2, in downtown Chicago.
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-------------------------------------------------------
Today's Power Bulletins
* Jim Walter Resources Says 13 Dead in Alabama Mine Blast
* FERC ALJ Says Pacific Northwest Municipal Utilities and Wholesale Power Buyers Not Entitled to Any Refunds for Sharp Jump in Wholesale Electricity Prices Earlier this Year
* Brazil Nuclear Plant Accident Discovered by Media
* S&P Assigns 'A-' Debt Rating to TECO Energy's $200 Million Senior Unsecured Notes
* Federal Reserve to Reduce Interest Rates for 9th Time this Year When It Meets Next Week
* Pepco Restores Power to Thousands After Maryland Tornado Wreaks Havoc
* Calpine Breaks Ground on 550 MW Columbia Energy Center in Calhoun County, SC
* Hybrid Electric Vehicle Battery Market Charged for Rapid Growth Reports New Study
* PNM and Sempra Energy Join Industry-Wide Scholarship Fund for Children Of Attack Victims
* ANP Marketing Company Licenses Allegro Applications
-------------------------------------------------------

TransCanada Says It Is Not Target

    TransCanada Pipelines says it is unlikely that Duke will launch a take-over bid for it after buying Westcoast for $8.5 billion last week. TransCanada contends that it is worth almost 3 times as much as Westcoast, and due to its size, could command a premium. With the Westcoast acquisition, Duke will own stakes in pipelines delivering about 30% of the US natural gas imported from Canada. TransCanada has more than 23,000 miles of pipelines transporting Western Canadian volumes to Ontario and the Northeast. Pipelines are considered to be key assets because it has become more difficult gain regulatory approval and the expense and time associated with their constru
--------------------------------------------------------
Today's Gas Bulletins
* New FERC Chairman Pat Wood to Run 1st Hearing as Head of Commission Today
* Senate Energy and Natural Resources Committee Focuses on Securing Nation's Energy Infrastructure
* TradeSpark  Resumes Normal Electronic Trading of All Energy Commodities
* TransCanada Says It Is Not Takeover Target
* Canadian Rigs Drilling Down 13 in Past Week
* Federal Court Dismisses Southern Union Claims for Lost Profits Against Southwest Gas; Summary Judgment Ruling Favors ONEOK
* New Stuart Energy President & CEO Outlines Mission to Create, Develop and Market Hydrogen Solutions Throughout World
* Williams Says Firm Transportation Rates to Drop Up to 36.5% for All Original Shippers on Kern River Effective October 1st
--------------------------------------------------------

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Devon, Mitchell Deal Questionable

   The recent drop in Devon Energy's share price could place an obstacle in the path of its planned acquisition of Mitchell Energy. Last month, Devon agreed to acquire Mitchell for $31 per share in cash and 0.585 of its own shares for each Mitchell share, in a deal then valued at about $3.1 billion. The companies agreed that the deal should be tax-free for Mitchell stockholders. But, to qualify for tax-free status, the cash component cannot exceed 60% of the total offer. Yesterday, Devon's stock fell $0.17 to $32.93 per share, down from about $50 just before the Mitchell deal was struck. Mitchell's shares were also down yesterday, dipping $1.88 to $47.07, while Devon's offer for Mitchell was worth $50.26 per share, with the cash component now making up about 62% of the value. Both companies remain committed to the deal, but realize that it could face problems unless Devon's stock price increases by the 4th quarter when the deal is expected to close.
--------------------------------------------------------

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 North American Gas Strategies Conference

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Day 2:  Western Canadian Gas Supply Featuring speakers such as:
Ed Weber, Chairman, Reliability Assessment,  ERC Don Albon, Senior Vice President - Aquila Capital & Trade
Ken Vollman, Chairman & CEO - National Energy Board
Terry Schmidtke, GM Great Plains Business Unit - PanCanadian
Ted Bogle, VP Exploration - Talisman Energy
Ken Sinclair, Chair - Coalbed Methane Association
Graeme Phipps, VP Exploration - Petro-Canada
Nellie Cournoyea, Chair & CEO - Inuvialuit Regional Corporation

Executive Roundtable - 6 CEO's from Canada & US discuss the outlook for the
Western Canadian Basin.  Including: Anadarko, Burlington Resources,
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Plus
Day 3:  eSolutions:  Next Generation Concepts for the E&P Sector

Register for One, Two or Three Days <http://www.ziffenergyconferences.com/>

or call 1-800-853-6252

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

United Kingdom Offshore Wind Farm Development

  The Crown Estate, landowner of the UK territorial seabed, is granting approval for 13 offshore wind farm sites to interested private companies. Bidding for licenses to build on the sites started in May and has had a large response, as most energy companies are trying to produce environmentally friendly power in response to tighter environmental controls worldwide. If all the offshore wind sites are developed as planned, the power generated over the next 4 years would be between 1,000 MW and 1,500 MW. Each offshore site will be 3 - 5 miles offshore and is required to have at least thirty 2  - 3 MW wind turbine generators with 200 to 250-foot tall steel towers.
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http://<http://www.ziffenergy.com/> to preview our marketing brochure.
----------------------------------------------------------
FERC ALJ Recommends Denial of Pacific Northwest  Power Refunds

    A FERC Administrative Law Judge has recommended that the full commission deny the $1.9 billion in refunds requested by Pacific Northwest municipal utilities and wholesale electricity buyers for power purchases last spring when prices jumped sharply higher. The ALJ pointed out that the Pacific Northwest market is very different than the California market, because California state law prohibited utilities from passing higher power costs on to customers, while the market worked properly in the Pacific Northwest when supplies were tight. The Northwestern states rely heavily on hydroelectric power and suffered a draught situation which coincided with a shortage of electricity supplies throughout the Western US. The ALJ contends that the Pacific Northwest experienced a sudden and acute drop in available supply, and in that situation prices rose dramatically, as should be normal. Of the total $1.9 billion sought in refunds, California has laid claim to almost $1.5 billion.
--------------------------------------------------------
                   YOU DESIGNED IT. WE BUILT IT.

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Call us at (212)515-3700 or visit us at the website <http://www.caminus.com/>
-------------------------------------------------------

Governor Expected to Order Lawmakers Back

    In attempt to prevent the bankruptcy of Southern California Edison, the governor is poised to order lawmakers to return to Sacramento, after they adjourned last week without voting on a rescue plan for the utility. The governor is in the process of developing a proposal and is consulting with state senators and Assembly members to find an acceptable compromise between the two legislative houses. The new plan will probably allow SCE to sell between $2.5 and $2.9 billion in bonds which would be secured by existing charges to about 20% of its biggest commercial consumers. California's Senate has approved a version of the bill, voting for $2.5 billion in bond sales, but secured by the rates of 4,000 of SCE's largest customers. In addition, the state would have the option to purchase the utility's transmission lines at book value. SCE argues that the plan would not prevent its bankruptcy. The Assembly version increased the bond sale to $2.9 billion and spread the costs over 136,000 business customers. In addition, the lawmakers gave the state the option to buy the transmission grid at double the book value or at market value, whichever is less, and a provision to reinstate the retail power market. However, when the Senate received the amended bill, it declined to vote on the measure, adjourning for the year instead. The governor is expected to limit the topics under discussion by the legislature when they return, in order to prevent lawmakers from discussing bills unrelated to the rescue plan.
-----------------------------------------------------

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--------------------------------------------------------
                Progas Storage Services, Inc

Was recently organized to offer specialized natural gas storage services to marketers and end users servicing the upper Midwest and Northeast market regions along the major transmission systems in Indiana, Illinois, Kentucky, and Michigan. PGSMI has 10 bcf of potential working capacity which will offer service along TXG, ANR, Midwestern, and is currently evaluating for purchase another 21 bcf of potential working capacity which can be serviced by these and other systems in the region. PGSMI also explores for natural gas in the Gulf Coast region through a wholly owned subsidiary. Progas intends to go public through a route of private industry offerings, and an IPO or registration. For more information on services or the company mail to: gastorage@aol.com or for AOL mail to gastorage@aol.com <http://gastorage@aol.com/>; web site currently under construction at: <http://www.progas.net/wip>.

The company's executive and administrative office is located in Abilene, Texas with storage operations in Owensboro, KY and exploration operations in Corpus Christi, TX.

Progas Storage Services, Inc
8610 S. Hwy 277
Abilene, TX 79606

Ph 915 698 3699
Fx 915 698 2859
--------------------------------------------------------
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--------------------------------------------------------
FINANCIAL SUMMARY
The TSE 300 gained 40.04 points to 6702.01
The CRB Index decreased 1.53 points to 189.10
The US Dollar declined 0.71 points to 112.13
The Dow rose 56.11 points to 8659.97
The S&P 500 climbed 8.82 points to 1012.27
The Nasdaq was up 2.24 points to 1501.64
September NYMEX Crude Oil fell 0.20 to 21.80
Canadian-US Exchange rose .0020 to 1.5712
-------------------------------------------------------
Please welcome our advertisers by visiting these websites.
<http://www.kwi.com/>
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<http://www.e-acumen.com/knowledge_powerview.html>
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Ben,

Are any  of these the pieces that you are looking for?

Don
---------------------- Forwarded by Don Miller/HOU/ECT on 03/07/2000 04:54 PM
---------------------------

Buz Waddy <BWaddy@FI.RJF.com> on 03/07/2000 04:37:14 PM
To: "'Energy Enthusiasts'" <buzwaddy@att.net>
cc:
Subject: Power Research

Please find two research pieces that describe the power industry and the
impact of deregulaton.

>  <<IUTIL011000REPT.PDF>>  <<IUTIL010500RPT.PDF>>
>
> Diana Koch
> Raymond James & Associates
> 713-789-3551
>

 - IUTIL011000REPT.PDF
 - IUTIL010500RPT.PDF


Rick, I heard from my Bolivia regulatory team that the supreme decree is a
reality and that it is very positive- including full recovery of the $100MM
gas deferred account that we were hanging out on.  I will provide more
details as soon as I receive them.  Ray


who do you want me to invite and for what time?


FirstEnergy Trading Services, Inc. merged into FirstEnergy Services Corp.
(Services) effective 12/31/2000.  Notice has been given that they are
assigning the Master Energy Purchase and Sale Agreement to Services.


Gas Producers Liquids Inc. - Omnibus confirmations only - No ISDA

How do we margin this LC customer when the Exposure Thresholds are not
consistant across each Annex B?  Their financial mark to market exposure is
currently $1.3MM.

		Annex
Trades		B-Credit Line

QL3281.1		$0
QL3360.1		$0
QN8251.1		$0
QN8251.2		$0
QQ7096.1		$0
QQ7109.1		$500,000
QR4386.1		$0
QS3259.1		$0
QS3259.2		$25,000

Brant


Please print and put in folder "Northwestern documents 4/19".  Thanks,  Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 04/19/2001 06:33
AM ---------------------------

"Wright, Tremaine S." <TremaineWright@paulhastings.com> on 04/18/2001
08:16:49 PM
To: "'chris.booth@enron.com'" <chris.booth@enron.com>, "'kay.mann@enron.com'"
<kay.mann@enron.com>, "'michael.young@northwestern.com'"
<michael.young@northwestern.com>, "'jkeffer@kslaw.com'" <jkeffer@kslaw.com>,
"'mreuter@kslaw.com'" <mreuter@kslaw.com>
cc: "Kahn, Marguerite R." <MargueriteKahn@paulhastings.com>, "DeBerry,
Jeremiah A." <JeremiahDeberry@paulhastings.com>

Subject: Attached Files

1. We are attaching revised drafts (in clean and marked forms) of the
following:
  Letter Agreement   NY/333343 (3v2 Firm Style)
  ENA Promissory Note NY/333403 (3v2 Firm Style)
  NorSub Promissory Note NY/333404 (3v2 Firm Style)

2.  We will circulate a revised draft of the LLC Agreement after discussion
with John Keffer of a matter raised with him earlier today.

3.  We believe the NorthWestern Guaranty and the Escrow Agreement are in
final form (in the forms last circulated).

4.  We await a revised draft of the Assignment and Assumption Agreement.

 <<blackline - Letter Agreement.DOC>>  <<Letter Agreement.DOC>>  <<blackline
- ENA Note.DOC>>  <<E-Note.DOC>>  <<blackline - NorSub Promissory Note.DOC>>
 <<Promissory Note.DOC>>

"paulhastings.com" made the following annotations on 04/18/01 21:17:00
------------------------------------------------------------------------------
NEW E-MAIL ADDRESSES AT PAUL, HASTINGS, JANOFSKY & WALKER LLP

We have changed our e-mail address.  Our new domain name is
paulhastings.com.  In most cases, our address is composed of conventional
first name and last name plus @paulhastings.com.  Here are two examples:
janesmith@paulhastings.com and danjones@paulhastings.com.  If you have any
questions, please contact us at noc@paulhastings.com.

==============================================================================
"The information transmitted is intended only for the person or entity to
which it is addressed and may contain confidential and/or privileged
material. Any review, retransmission, dissemination or other use of, or
taking of any action in reliance upon, this information by persons or
entities other than the intended recipient is prohibited. If you received
this in error, please contact the sender and delete the material from all
computers."

==============================================================================

 - blackline - Letter Agreement.DOC
 - Letter Agreement.DOC
 - blackline - ENA Note.DOC
 - E-Note.DOC
 - blackline - NorSub Promissory Note.DOC
 - Promissory Note.DOC


transport model
---------------------- Forwarded by Scott Neal/HOU/ECT on 10/18/2000 04:31 PM
---------------------------

	From:  Kate Fraser                           08/22/2000 10:53 AM

To: Scott Neal/HOU/ECT@ECT
cc: Kyle Etter/HOU/ECT@ECT, Sandra F Brawner/HOU/ECT@ECT
Subject: Transport Model for New Deals

Scott,

Attached below is the transport model I have been using for new deals.  It is
set up right now for the Cranberry deal, but Kyle can show you how to modify
it for any new deal.  Obviously, I have not been relying heavily on the
extrinsic values this model produces.

Kate


Air Liquide et al v. PSE

        Formal Complaint - Docket UE-001952

        This week, the Commission is hearing evidence regarding the level of
a "soft
        cap" on prices PSE charges some large customers.

        On January 26, Public Counsel and Commission Staff filed a joint
answer on
        the rate cap mechanism.

        On Jan. 22, the UTC approved a temporary "soft-price" cap for power
rates
        paid by 13 large industrial customers of Puget Sound Energy (PSE). A
        short-term soft cap would allow PSE to charge above the cap for power
costs
        if the utility was paying more than a maximum level.

        The order calls for a second set of proceedings to establish the
level of the
        temporary soft cap as a term under the provisions of Schedule 48 and
the
        PSE/Georgia-Pacific Special Contract. The cap would be in place
pending
        further proceedings to determine a final disposition of Schedule 48.

        Puget's 13 large industrial customers are: Boeing, Georgia-Pacific,
Air Liquide
        America Corp. CNC Containers, Equilon Enterprises, Air Products and
        Chemicals, Inc., Tesoro Northwest, City of Anacortes, Intel Corp.,
King
        County's Metro Wastewater Treatment Division, Olympic Pipe-Bayview,
        Qwest and MCI WorldCo


Audrey,

Attached please find new Amendments to the Securities Purchase Agreement and
the Project Development Agreement which extend the May
9, 2001 date in each of the agreements to May 11, 2001.  In order to expedite
the review process, I am simultaneously sending copies of these documents to
ENA for their final approval; therefore, they remain subject to further
changes if necessary.  Please call me with comments at your earliest
convenience.

Best regards.

Aaron P. Roffwarg
Bracewell & Patterson, LLP
South Tower Pennzoil Place
711 Louisiana St.
Houston, Texas 77002
(713) 221-1117 (Ph)
(713) 221-2184 (Fax)

CONFIDENTIALITY STATEMENT:
This information is intended only for the use of the individual or
entity to which it is addressed and may contain information that is
privileged, confidential, and/or exempt from disclosure under applicable
law.  If you are not the intended recipient, you are hereby notified
that any dissemination of this information is strictly prohibited.  If
you have received this information in error, please notify us
immediately by telephone at (713) 221-1117 or by fax at (713) 221-2184,
and confirm that you have destroyed this information and any copies.
Thank you.

 - #1287078 v2 - AM NO.3 TO PDA.doc
 - #1287074 v2 - AM NO.2 TO SPA.doc


I see what you mean - the GTC's get attached to the confirms when they are
sent out so the confirm desk needs to know which ones to attach if they are
different.

To: Mark - ECT Legal Taylor/HOU/ECT@ECT
cc: Louise Kitchen/LON/ECT@ECT, David Port/LON/ECT@ECT
Subject: Re: Confirms

That is correct,  but the possible GTC amendments will be part of the daily
confirmation process.

 Dave

To: David G Mally/HOU/ECT@ECT
cc: Louise Kitchen/LON/ECT@ECT, David Port/LON/ECT@ECT
Subject: Re: Confirms

There will need to be confirmation templates for the internet-generated
transactions that are slightly different from templates now used for
telephone-generated transactions - Legal will have to give the confirm desk
the necessary language.  This is not the GTC issue you and I discussed the
other day - rather, I think the question is How will the internet-generated
trade information reach the confirm desk and how will they know to use the
internet trading language in the confirm they generate?
---------------------- Forwarded by Mark - ECT Legal Taylor/HOU/ECT on
06/24/99 12:55 PM ---------------------------

	Enron Capital & Trade Resources Corp. - Europe

	From:  Louise Kitchen                           06/24/99 11:07 AM

To: Mark - ECT Legal Taylor/HOU/ECT@ECT
cc:
Subject: Re: Confirms

Circular
---------------------- Forwarded by Louise Kitchen/LON/ECT on 06/24/99 05:10
PM ---------------------------
From: David G Mally on 06/24/99 11:04 AM CDT
To: David Port/LON/ECT@ECT
cc: Louise Kitchen/LON/ECT@ECT, Mark - ECT Legal Taylor/HOU/ECT@ECT
Subject: Re: Confirms

I have met w/ Mark Taylor and submitted all US based GTC / masters agreement
regarding the above note.  As you are aware, these legal agreements are part
of the confirm process.  Mark will be requesting outside counsel to make
recommendations.

Regards
Dave

David Port
06/24/99 03:04 AM
To: Louise Kitchen/LON/ECT@ECT
cc: David G Mally/HOU/ECT@ECT
Subject: Re: Confirms

Easy: Yes

I know this came up early on in the proceedings - I'll make sure its still on
someone's radar.

Louise Kitchen
24/06/99 01:45
To: David Port/LON/ECT@ECT, David G Mally/HOU/ECT@ECT
cc:
Subject: Confirms

On our confirmations (which are spat out of the systems) we often say the
transaction as agreed over phone - should we be altering these.  Are we
already doing this?


CALENDAR ENTRY:	APPOINTMENT

Description:
	birthday lunch for Kim @ Churrasco's

Date:		8/29/2000
Time:		11:30 AM - 1:00 PM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


Attached are the 2000 Weekly Cost Summary reports for the week ending
3/3/00.  If you have any questions, please give me a call.  Thanks Amy 3-7805


fyi
---------------------- Forwarded by Sara Shackleton/HOU/ECT on 09/30/99 02:39
PM ---------------------------

	Enron North America Corp.

	From:  Patricia Cini                           09/30/99 02:09 PM

To: Sara Shackleton/HOU/ECT@ECT
cc: Sara Shackleton/HOU/ECT@ECT, Brian
Swinford/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rick
Hopkinson/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: Re: ISDA

This is the first that I have heard about this deal.  Maybe Brian could call
me tomorrow as well to discuss this transaction.  I will do some more
checking around in the meantime to see if I can find anything out about this
deal.

Regards,

Pat

Rick Hopkinson@ENRON_DEVELOPMENT
09/30/99 10:36 AM
To: Sara Shackleton/HOU/ECT@ECT
cc: Patricia Cini/HOU/ECT@ECT
Subject: Re: ISDA

Sara, I too do not have any information on the old swap.  However, I would
like to get copies of any documents for review that relate to any new swap.

Thanks,

Rick

Sara Shackleton@ECT
09/30/99 10:15 AM
To: Rick Hopkinson/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Patricia Cini/HOU/ECT@ECT

Subject: ISDA

RE the message attached from Brian Swinford, Lynn advises that you are
familiar with CIESA (I am not!).  I don't know anything about a prior
interest rate swap.  By copy of this e-mail I am asking Pat Cini to suggest
how we might proceed.  If you have further information, please let us know.
Thanks.  Sara
---------------------- Forwarded by Sara Shackleton/HOU/ECT on 09/30/99 09:23
AM ---------------------------

Brian Swinford@ENRON_DEVELOPMENT
09/30/99 08:26 AM
To: Sara Shackleton@ECT
cc:
Subject: ISDA

Sara,

Bruce Harris gave me you name as a contact for getting a copy of Enron's
approved ISDA documentation.  I am looking a helping our 50% owned
subsidiary, CIESA do an interest rate swap to fix rates on its $220MM
floating rate note agreement.  The existing swap which was done in 1997 runs
off on 10/22/99.  The tax department here at Enron (South America) have asked
me to let them review any swap documentation we plan on entering into
beforehand so they can look at any tax issues (i.e., tax law changes that may
have occured since the last swap was done).

I am not sure what documentation was used the last time around - I have asked
the financial folks at TGS which manages the CIESA FRN on behalf of Enron and
Perez Companc to send me a copy of whatever documentation was used before as
a starting place but haven't heard back from them.  Do you happen to have any
information on the previous swap?

I am on my way to Dallas for the day.  I will give you a call tomorrow to
check in.  Thanks.

BRS


Dan:  Please find the lastest 90 day schedule from Atlantic as of March 2,
2001.
Please ignore the scheduling of the "P" deliveries for now.  This was ALNG's
work and we have not agreed to this designation.

Jane

(Embedded image moved to file: pic22774.pcx)

Dan.Masters@enron.com on 03/08/2001 02:21:54 PM

To:   Jane Michalek/Cabot LNG@Cabot LNG
cc:   Paul.Y'Barbo@enron.com, Todd.Peterson@enron.com
Fax to:
Subject:  LNG Schedule at Eco

Jane-
Per our phone conversation on Friday, we will plan on receiveing the
"Methane Arctic" with approximately 68,500 M(superscript: 3) about April 2.
This should hold us until the last part of April or first part of May.  We
will put out the official nomination as usual on March 12.

Thanks and regards,

Dan Masters
Office:   713-345-5498
Fax: 713-646-6560
Cell:     832-326-9590
Email:    dan.masters@enron.com

 - pic22774.pcx


We are going to plan on being there for the Enron schedulers, until they are ready to fly solo

-----Original Message-----
From: May, Tom
Sent: Friday, February 01, 2002 7:29 AM
To: Semperger, Cara
Cc: O'Neil, Murray P.; Racicot, Paul; Purcell, Mike; millergd@encorp.com; Bentley, Corry; Serio, Erik
Subject: RE: URGENT!!! UBS SCHEDULERS WILL NO LONGER HAVE ACCESS TO EPMI FILES ON MONDAY, FEB 4!!!!

I will see what I can do about the cut-over.  Until the email this morning, I had been told that we had until Thursday morning.  The contingency plan in the east is to have Corry's folks come down and help the estate staff using estate logins.  Is this possible for you folks as well.

Tom.

-----Original Message-----
From: Semperger, Cara
Sent: Fri 2/1/2002 9:18 AM
To: May, Tom
Cc: O'Neil, Murray P.; Purcell, Mike; Robinson, Donald; Cutsforth, Diane; Bishop, Serena; Crandall, Sean; Scholtes, Diana; Belden, Tim
Subject: RE: URGENT!!! UBS SCHEDULERS WILL NO LONGER HAVE ACCESS TO EPMI FILES ON MONDAY, FEB 4!!!!

UM ,  NOBODY IS TRAINED HERE, WE HAVE HAD EXACTLY ONE DAY'S NOTICE TO PULL THIS TOGETHER!

-----Original Message-----
From: May, Tom
Sent: Friday, February 01, 2002 7:03 AM
To: Choate, Jason; Laurent, Dean; Bentley, Corry; Crooks, William; Serio, Erik; Morse, Brad; Suarez, John
Cc: Semperger, Cara; Purcell, Mike; O'Neil, Murray P.
Subject: RE: URGENT!!! UBS SCHEDULERS WILL NO LONGER HAVE ACCESS TO EPMI FILES ON MONDAY, FEB 4!!!!

Jason,

Why has this now changed to Monday from Thursday morning and who made this decision?

Will we be able to schedule Monday without the UBS folks?

Tom

-----Original Message-----
From: Choate, Jason
Sent: Fri 2/1/2002 8:53 AM
To: Laurent, Dean; Bentley, Corry; May, Tom; Crooks, William; Serio, Erik; Morse, Brad; Suarez, John
Cc:
Subject: URGENT!!! UBS SCHEDULERS WILL NO LONGER HAVE ACCESS TO EPMI FILES ON MONDAY, FEB 4!!!!

MORNING AGENDA:

1.  ROLL SYSTEM   (this throws all the enpower deals into the Scheduling function for enpower so you can route your deals)

        a.  Login to Enpower
        b.  go to the hand (upper left hand corner of launch pad)
        c.  select tools
                1.  select Auto Scheduler (4th selection)
        d.  in Auto Scheduler
                1.  Portfolio Code-  East
                2.  select Schedule Entire Days tab (far left)
                3.  the date that it defaults to is the next day to be rolled (should be tomorrow)
                4.  click the Schedule button (it has a green check mark on it)

2.  WHERE TO FIND THE SCHEDULING EXCEL SHEETS

        a.  COMED       m:/electric/schedule/comed/2002/COMED-FEB-2002
        b.  CINERGY     m:/electric/schedule/ECAR/2002/ECAR-FEB-002
        c.  ENTERGY   m:/electric/schedule/spp/2002/ENTERGY-FEB2002
        d.  PJM         m:/electric/schedule/PJM/pjm-2002/PJM-FEB2002

3.  SCHEDULE AND ROUTE DEALS IN ENPOWER

        PHONE #'S FOR SCHEDULING

        WEPCO   414-221-4398
        VEPCO           804-273-4477
        KOCH            713-544-5523
        SELECT  860-665-3654
        MPEX            612-332-1289


One of the to-do's at the end of our recent conference call was to determine whether we wanted to do an end-run around ONEOK's desire to use the PTR system during the special test by buying or leasing a meter to use in place of the rich inlet meter.  Don Hawkins just called to advise that Phil Lowry has authorized spending $100,000 to buy a new meter and associated piping for this purpose.  We will also be spending the money to have it flow tested.  Charlie Thompson is now contacting Instromet to see if they will sell us one for that price and how quickly we can get delivery.

	I will keep you advised.

	Britt


Question Two:
No.  Enron's lobbying expenditures is very consistent with other entities in its field.  In addition, because of Enron's diverse portfolio of business investments it has a broad and diverse set of public policy interests.  Enron's DC expenditures also reflect the presence of our regulatory efforts.

Question Three:
At the Federal level Enron's public policy advocacy costs will be approximately the same in CY200l.

Question Four:
Similar to other companies, Enron constantly alters its use of outside consultants depending on our needs at that time.  All firms we have retained should have registrations on file.

Question Five:
Far from unusual, Linda Robertson was hired following a lengthy search in November 2000 to replace the retiring head of the DC office.

Question Six:
Don't believe so.

Question Eight:
We anticipate that the SEC inquiry will be handled by Enron's legal department.


Thanks for reserving tickets to the October 17 Presidential speech at
the Sacramento Memorial Auditorium.  We are now in possession of the
tickets and must ask you to pick them up as soon as possible, either
Monday or Tuesday at our offices, 980 Ninth Street, Suite 2200 from 8
a.m. to 5 p.m.

In the event you wish to have the tickets delivered to you overnight by
Federal Express or other major carrier, please call Geri Royer and give
her an account number to which they may be charged, no later than 3 p.m.
Monday, for delivery Tuesday.

As a last resort, we have reserved a room at the Sacramento Convention
Center for October 17, 2001 where the last remaining unclaimed tickets
will be held from 7:30 a.m. until 9 a.m., however it is recommended that
you claim your tickets as quickly as possible to ensure your seating.

We are also attaching a sheet of instructions, which you should read
carefully and retain for the day of the event.  Also there is a map of
downtown Sacramento with parking garages marked, if you should need it.

Thanks for your interest and we look forward to seeing you all at this
historic event.

EVENT INSTRUCTIONS

AUDITORIUM DOORS OPEN AT 10:00 A.M., CLOSE AT 11:00 A.M. WITH EVERYONE
SEATED. NO EXCEPTIONS WILL BE MADE. GIVE YOURSELF PLENTY OF TIME, AS
SECURITY WILL BE VERY TIGHT.

YOU MUST HAVE A TICKET TO OBTAIN ENTRY TO THE AUDITORIUM. THERE WILL BE
NO TICKET WILL-CALL AT THE EVENT.

PARKING WILL BE SCARCE. PLAN ON PARKING OUTSIDE A FOUR-BLOCK BOUNDARY
AROUND THE AUDITORIUM, AS IT IS LIKELY THAT THIS AREA WILL BE CLOSED TO
VEHICULAR TRAFFIC.

A MAP OF SURROUNDING PARKING LOTS IS ATTACHED. WE SUGGEST PUBLIC
TRANSPORTATION FOR THOSE ARRIVING FROM LOCAL AIRPORTS.

PLEASE DO NOT BRING PURSES, BRIEF CASES, BAGS OR OTHER BELONGINGS THAT
MUST BE SEARCHED. IT WILL DRAMATICALLY SLOW THE PROCESS OF GAINING ENTRY
TO THE AUDITORIUM. METAL DETECTORS WILL BE IN USE. WE DO RECOMMEND
PICTURE IDENTIFICATION BE CARRIED ON YOUR PERSON, HOWEVER.

PLEASE REMEMBER TO TURN YOUR CELL PHONES AND OTHER ELECTRONIC EQUIPMENT
OFF (OR REFRAIN FROM BRINGING THEM).

SEATING IS ON FIRST COME, FIRST SERVED BASIS. PLEASE FOLLOW THE ON-SITE
DIRECTIONS OF THE USHERS ONCE INSIDE THE AUDITORIUM.

CAMERAS ARE ALLOWED, HOWEVER WE SUGGEST REMOVING THE FILM, AS CAMERAS
MAY BE OPENED FOR INSPECTION.

NO SIGNS, FLAGS OR OTHER MESSAGE-TYPE ITEMS WILL BE ALLOWED IN THE
AUDITORIUM.

BUSINESS ATTIRE OR BUSINESS CASUAL IS APPROPRIATE.

If you should have any questions, please contact Geri Royer immediately.