BLOOMBERG
Are you talking about the broker fee?
Yes the fee is $15.00 Flat per Bloomberg's confirmation on both of these
deals.

PREBON
Bob said Matt Motley gave him this deal to do. Is that going to fly with
Prebon?
I guess this is o.k. but they were insisting that this deal was done with
Matt not Bob.

   Kate Symes @ ECT                04/16/2001 04:04 PM

To: Evelyn Metoyer/Corp/Enron@ENRON
cc:

Subject: Re: 4/16 Checkout

BLOOMBERG
Are you talking about the broker fee?

TRADESPARK
Matt's contact is verifying this trade as off-peak.

AMEREX
Chris just changed deal 582853 from APB to Amerex

582894 - changed to 47.75

PREBON
Bob said Matt Motley gave him this deal to do. Is that going to fly with
Prebon?

Evelyn Metoyer@ENRON
04/16/2001 01:55 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: 4/16 Checkout

BLOOMBERG

deal 582589 and 582423
Bloomberg shows fee as $15.00 flat on both of these deals.

TRADESPARK

Matt Motley
deal 582856
Tradespark shows hours as on-peak not off-peak

AMEREX

Chris Mallory
I am missing:
Enron sells to Duke 4/20-4/30 NP-15 Light 25 mw at $190

Mike Swerzbin
deal 582894
Amerex says price should be $47.75 not $47.25

PREBON

Bob Badeer
deal 582668
Prebon says this deal should be Matt Motley's


Thanks for taking the lead on this Tana - much sppreciated

David

From: Tana Jones@ECT on 10/19/2000 09:07 AM
To: Brent Hendry/NA/Enron@Enron, Sara Shackleton/HOU/ECT@ECT, Mark
Taylor/HOU/ECT@ECT, Carol St Clair/HOU/ECT@ECT, Susan Bailey/HOU/ECT@ECT,
Mary Cook/HOU/ECT@ECT, Samantha Boyd/NA/Enron@Enron, Robert
Bruce/NA/Enron@Enron, Stephanie Panus/NA/Enron@Enron
cc: David Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Alison
Keogh/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT

Subject: Enron Australia Masters

At the request of David Minns their short name in Lotus Notes will be EAF
(for Enron Australia Finance).   David gave me a list of their masters, so I
am going to enter just the names and agreement.  David and Alison will flesh
out the rest of the data when he gets back.


Guys, what is this!!!!

No - I think that Ahlstrom should take this risk or it should be reflected in
a price reduction. I vote not to do the deal otherwise.

Regards
Delainey

---------------------- Forwarded by David W Delainey/HOU/ECT on 12/06/2000
06:48 PM ---------------------------

	Enron North America Corp.

	From:  Chip Schneider @ ENRON                           12/06/2000 06:07 PM

To: Greg Blair/Corp/Enron@Enron, W David Duran/HOU/ECT@ECT, Terry W
Donovan/HOU/ECT@ECT, Christopher F Calger/PDX/ECT@ECT, David W
Delainey/HOU/ECT@ECT, Stephen H Douglas/HOU/ECT@ECT, Mark E
Haedicke/HOU/ECT@ECT, Brian Redmond/HOU/ECT@ECT, David Gorte/HOU/ECT@ECT, Ben
F Glisan/HOU/ECT@ECT
cc: George Schaefer/NA/Enron@Enron, William Keeney/HOU/ECT@ECT, Lou
Stoler/HOU/ECT@ECT, David Leboe/HOU/ECT@ECT, Rick Buy/HOU/ECT@ECT
Subject: Change to the Inga DASH

The Approval Amount for the Inga DASH has been revised from $98 million to
$105.25 million to accomodate the potential requirement of having to replace
existing credit support facilities provided by the seller, A. Ahlstrom, or
the target, Ahlstrom Development Corporation ("ADC").  Although not explicit,
this requirment may arise as A.Ahlstrom/ADC attempt to obtain
"change-in-ownership" consents from partners, lenders and lessors to complete
Enron's acquisition of ADC.  As we believe that the liklihood of this
requirement occuring is greatest with regard to 1) and 2) below, the DASH
reflects the aggregate of these amounts.  The requirement with regard to 3)
below lies with an ADC subsidiary and should not "reasonably" merit
replacement by Enron.

This change was reflected in the DASH mailed to the Finance Committee of the
BoD on 12/05/00.

The potential credit support facilities are detailed as follows:

1)  Panther Creek -- A. Ahlstrom Comfort Letter:  A. Ahlstrom provided a
"comfort letter" for the benefit of the lenders at the Panther Creek
project.  Upon acquisition by Enron, the beneficiaries of this comfort letter
may require that it be replaced by an ENE guaranty.  The comfort letter
requires A. Ahlstrom to provide up to $1.5 MM in additional equity to the
project in the event that the project cannot meet its debt service.

Based on the origination team's analysis, the likelihood of an equity call
related to the comfort letter appears to be minimal given:
the project  is projected to achieve an average 1.92x debt service coverage
ratio in the pro forma model
the partnership maintains business interruption insurance
the project can subordinate $2MM in O&M incentive payments annually to meet
its debt service targets

2)  Panther Creek -- Equity Support Agreements:  ADC, as well the other major
partner, Constellation, have provided guarantees in favor of the Panther
Creek project lenders, each with a maximum exposure of $5.75 MM  Equity
support under this agreement may be called on if the Panther Creek project
does not meet its debt service requirements.  We believe that these
obligations should be maintained by ADC and not up-streamed to Enron as Enron
obligations, however, the consenting parties may disagree.

In the event that Enron is required to provide this support in exchange for
consent, the origination team believes it is unlikely that the project
lenders will call on the equity support agreements due to the coverage ratio,
insurance and payment subordination items discussed above under item 1) above.

3)  Gilberton -- Capital Support Agreement:  Orion Power Company (a
subsidiary of ADC) has committed to providing a maximum of $1.25 MM in equity
support to the Gilberton Power Project, in the event that debt service cannot
be met.  We have not provided for this in the DASH as we believe that these
obligation should be maintained by Orion and not upstreamed to either ADC or
Enron as either an ADC or Enron obligation.

The origination team believes that if Enron is called upon to provide this
credit support, the impact of such would be minimal because:
the agreement expires once project debt is repaid in Dec 2002
the project maintains a cash debt service reserve of $16 MM (and only $32 MM
of debt reamains outstanding)
pro forma debt service coverage ratios average 1.53x against a target of 1.15x

Given there is minimal expectation the facilities will be drawn upon, RAC
does not foresee a material impact on the overall project economics.  To the
extent guarantees or letters of credit are issued, an appropriate cost for
these guarantees should be deducted from the value of the transaction.

Please let me know if you have any questions with regard to this change.

Regards,


Heather:

My recommendation is that we "tighten up" tax  language in the ENA - Virginia
Electric and Power Company ("VEPCO") Power Purchase & Sale Agreement.  Below
please find my recommendations.  Please note that the New Tax burden is upon
VEPCO.  This is in keeping with our standard power contracts.

- Matt
x33979

1) Replace the "Tax" definition with the following:

"Taxes"  means any or all ad valorem, property, occupation, severance,
generation, first use, conservation, Btu or energy, transmission, utility,
gross receipts, privilege, sales, use, consumption, excise, lease,
transaction, and other taxes, governmental charges, licenses, fees, permits
and assessment, or increases therein, other than taxes based on net income or
net worth.

2) Insert definition for "New Taxes":

"New Taxes"  means (i) any Taxes enacted and effective after the Effective
Date, including, without limitation, that portion of any Taxes or New Taxes
that constitutes an increase, or (ii) any law, order, rule or regulation, or
interpretation thereof, enacted and effective after the Effective Date
resulting in the application of any Taxes to a new or different class of
parties or transactions.

3) Replace Sec. 11.2 with the following:

Applicable Taxes  The Contract Price shall include full reimbursement for,
and Seller is liable for and shall pay, or cause to be paid, or reimburse
Buyer if Buyer has paid, all Taxes applicable to a Transaction arising prior
to the Delivery Point. If Buyer is required to remit such Tax, the amount
shall be deducted from any sums due to Seller.  Seller shall indemnify,
defend and hold harmless Buyer from any Claims for such Taxes.  The Contract
Price does not include reimbursement for, and Buyer is liable for and shall
pay, cause to be paid, or reimburse Seller if Seller has paid, all Taxes
applicable to a Transaction arising at and from the Delivery Point, including
any Taxes imposed or collected by a taxing authority with jurisdiction over
Buyer.  Buyer shall indemnify, defend and hold harmless Seller from any
Claims for such Taxes. Either Party, upon written request of the other, shall
provide a certificate of exemption or other reasonably satisfactory evidence
of exemption if either Party is exempt from taxes, and shall use reasonable
efforts to obtain and cooperate with obtaining any exemption from or
reduction of any Tax.  Each Party shall use reasonable efforts to administer
this Agreement and implement the provisions in accordance with the intent to
minimize Taxes.  Buyer shall be responsible for all New Taxes.


>
>A Taste of Canadian Humour........
>
>
>
>President George W. Bush called Prime Minister Jean Chretien with a pressing
>emergency; "Our largest condom factory has exploded," the American President
>cried. "My people's favourite form of birth control! This is a disaster!"
>
>"George, da Canajian pipple would be 'appy to do anyt'ing wit'in der power
>to 'elp you," replied the Prime Minister.
>
>"I do need your help," said Bush. "Could you possibly send us 1,000,000
>condoms ASAP to tide us over?"
>
>"Certainment! I will get on hit right haway," said Jean.
>
>"Oh, and one small favour, please?" said President George W. "
>
>Oui?"
>
>"Could the condoms be red, white and blue, and at least 10 inches long, with
>a 4 inch diameter?" asked Bush.
>
>"No prob'lem," replied the Prime Minister, and with that Chretien hung up
>and called the President of Trojan.
>
>"I need a favour. You got to make 1,000,000 condoms right haway, and sen'dem
>to Hamerica."
>
>"Consider it done," said the President of Trojan.
>
>"Great! Now listen mon ami. Dey haf to be rouge, blanc et bleu in colour,
>hat least 10 hinches long, and 4 hinches in dia'meter."
>
>"That's easily done. Anything else?"
>
>"Yes," said the Prime Minister, "an print on dem;
>
>MADE IN CANADA, size: SMALL.
>
>PROUD TO BE CANADIAN
>
>
>

Get Your Private, Free E-mail from MSN Hotmail at http://www.hotmail.com.


Congratulations on the good news.  Sorry to hear about the bad news.  There seem to be lots of scheduling jobs around here but I don't know if you want to do that.  Bob Superty is the best person to chat with their.  Also, you might chat with AEP.  They just bought some Houston assets and they might be keeping those assets in Houston.

To:	Chris Germany/HOU/ECT@ECT
cc:
Subject:	Hello!

Hello Chris!

I was writing to give you some good news and bad news.

Good news:  I got engaged last weekend.  I am very excited!  Todd is a very wonderful person.  This is the person I met on MM last year who lives in Columbus.

Bad news:  I am getting laid off.  I transferred to Columbus with Clinton.  They are laying off half their staff.

I am not real fond of Columbus and hope to move back to Houston one day.  Hopefully we can work together again one day.

Hope all is well with you!

Take care!

Susan


did you go work out this morning?

do you know an orthodontist in houston?


no problem


Hey Sheila,

Happy Birthday! Shanna and I are going to Louisiana on Friday, so we can't
make it.  I hope you have fun.

-Eric

"Ferrarini S (Sheila)" <SFerrarini@equiva.com> on 01/31/2001 11:21:37 AM
To: "'HECTOR.CAMPOS@ENRON.COM'" <HECTOR.CAMPOS@ENRON.COM>,
"'LENINE.JEGANATHAN@ENRON.COM'" <LENINE.JEGANATHAN@ENRON.COM>,
"'ERIC.BASS@ENRON.COM'" <ERIC.BASS@ENRON.COM>, "'SHANNA.HUSSER@ENRON.COM'"
<SHANNA.HUSSER@ENRON.COM>, "'GALLIN.FORTUNOV@ENRON.COM'"
<GALLIN.FORTUNOV@ENRON.COM>
cc:
Subject: My Birthday

Hello everyone -

This Friday some of my friends and I (and Michael of course) are getting
together to celebrate my birthday.  We're starting with dinner at Lupe
Tortilla at 8:30 pm and then most likely going to the Mercury Room.  We
might go to a few other places depending on who wants to do what.  I'm
pretty leniant as long as I get to dance!

I hope you all can make it.

Sheila Ferrarini
Exchange Analyst
EQUIVA Trading Company
Refined Products Inventory Management
Tel:  (713) 277-6236
Fax: (713) 246-8753


Gary,

I need some Tagg books set up for the Chicago office.  I submitted a request
this morning to create a new counterparty:  Enovate, LLC which will be an
Enron entity.  Under Enovate LLC I need two books:  FT-ENOVATE and
INTRA-ENOVATE (P,B,I & GD).  I also need a book which will fall under the
current Enron MW, LLC counterparty:  FT-INT-ENOVATE (P,B,I & GD).  And as
usual I need these as soon as possible.  I will be out of the office on
Friday but will return on Monday.  I really need to get deals moved to these
books by the end of next week.  Please let me know if there is anything I
need to do to help.  Thanks as always.

DG    3-9573


We will hold off transferring any physical positions desk to desk until the end of bidweek.  After NX1, we will transfer positions at a daily EOL Index mid price.  Please monitor my book and others to make certain DEC deals are not being transferred prior to NX1 at an IF monthly or GD daily mid price.

Thanks,

Mike


All:  I spoke with Kim this morning and although she is anxious to meet
everyone, we decided that it would be more productive to try to schedule a
luncheon meeting to discuss current issues related to the confirmation desk.
I understand that Joe Hunter, Melissa Murphy and David Dupre will be
providing Kim with a list of "issues" and we have been invited to add to that
list.

Please send me your list of any confirmation issues that you would like
raised with Kim which I will cumulate and forward.

You may ignore the message below.  Thanks.  Sara

----- Forwarded by Sara Shackleton/HOU/ECT on 10/26/2000 10:17 AM -----

	Yolanda Ford
	10/25/2000 05:01 PM

		 To: Sara Shackleton/HOU/ECT@ECT, Mary Cook/HOU/ECT@ECT, Susan
Bailey/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Samantha Boyd/NA/Enron@Enron,
Stephanie Panus/NA/Enron@Enron, Melissa Ann Murphy/HOU/ECT@ECT, Robert
Bruce/NA/Enron@Enron, Mark Taylor/HOU/ECT@ECT, Larry Joe Hunter/HOU/ECT@ECT,
Brent Hendry/NA/Enron@Enron
		 cc: Kim S Theriot/HOU/ECT@ECT, Yolanda Pena/Corp/Enron@Enron, Becky
Spencer/HOU/ECT@ECT
		 Subject: Financial Confirmations Issues

Please plan to attend a meeting regarding Financial Issues on Monday the 30th
from 10:00am to 11:00am in EB3125B.  If you are unable to attend please call
me directly at X3-9030. The meeting will be hosted by Kim Theriot Manager of
Power and Gas Documentation.

Many Thanks,
Yolanda


whatever.  i don't even see any jobs that i want so screw it!  :)

-----Original Message-----
From: Maggi, Mike
Sent: Monday, November 26, 2001 9:03 AM
To: Nelson, Michelle
Subject: RE:

nope your not going anywhere, besides you get half my prize

-----Original Message-----
From: Nelson, Michelle
Sent: Monday, November 26, 2001 8:57 AM
To: Maggi, Mike
Subject: RE:

I was in a good mood.  This place is depressing.  Wade has instructed me to start looking for another job.  I don't even want to mess with it.  That's lazy isn't it?


Attached is LOI with our revisions redlined.  Please review and call either
Mark or myself to discuss.


Please see attached draft letters for your review and comment.

Scott A. Turner
Blake, Cassels & Graydon LLP
Suite 2600, Three Bentall Centre
595 Burrard Street, PO Box 49314
Vancouver, BC  V7X 1L3

Tel:  604.631.3318
Fax:  604.631.3309
E-mail:  sat@blakes.com

This e-mail communication is confidential and legally privileged.  If you are
not the intended recipient, please notify me at the telephone number shown
above or by return e-mail and delete this communication and any copy
immediately.  Thank you.

 - Letterto.DOC
 - LtrtoCre.DOC


Andrea,

Is it possible to get a list of first year analysts who graduated in December
to interview for my group?  I don't know how the process works, but I would
like to hire a candidate just out of college if possible.  Thanks for your
help.

DG    3-9573


Please mark your calendars for the first annual All-Employee Meeting and teambuilding event at Jillian's on Thursday, 7/19/01.  This gathering is for all ENW Houston-based, full-time and part-time employees.

Click the link below for further information and RSVP information.  Please note the deadline to RSVP has been extended to 7/11/01, due to the July 4th holiday.

Please call Peggy McCurley at x31832 if you have any questions.

Hope to see you there!

http://207.21.193.94/jillians/index.asp


---------------------- Forwarded by Darron C Giron/HOU/ECT on 03/29/2001
10:43 AM ---------------------------

Stacey Vallejo
03/29/2001 10:34 AM
To: Jeffrey C Gossett/HOU/ECT@ECT, Darron C Giron/HOU/ECT@ECT, David
Baumbach/HOU/ECT@ECT, Errol McLaughlin/Corp/Enron@ENRON, Kam
Keiser/HOU/ECT@ECT, Sherry Dawson/NA/Enron@Enron, Carole Frank/NA/Enron@ENRON
cc:
Subject: Aquila Canada Corp. deals in Houston books

Hi guys,

I've just come across a few deals that are in TAGG as settling between
ENA and Aquila Canada Corp.  These deals would not have shown up when
you looked for deals to flip to the FT-US/CAND-ERMS book as they aren't in
TAGG as ECC deals.  I have a feeling that there are lots of deals like this in
TAGG, but I just don't know where. We are having problems printing TAGG
tickets
up here, so I'm not able to see which books these deals are in right now.
What I'm
requesting is that you go through all your books and look for all deals with
Aquila
Canada Corp. that are to settle for March and April 2001, and after, and flip
these
deals into the FT-US/CAND-ERMS book as soon as possible.  As it stands,
I'm missing at least 10 deals from the April 2001 Nymex invoice, and I want to
make sure that these deals don't get invoiced by someone in Houston
settlements.
Nymex settled yesterday for April, so invoicing for these deals is taking
place
today.

I understand that you are all very busy right now, but it would really be
appreciated
if this was dealt with as soon as possible today.  The settlements group and
I need
to get our invoices sent out today, so we need these deals to be fixed right
away.

Please let me know if you have any questions on this matter, and let me know
if I
can assist you in any way.

Thanks so much for your help
Stacey-


We added $75M so Schedule C tonight.

DG


The Telephony Team performed maintenance over the weekend which impacted the user voicemail that moved from 3AC.  Although the Telephony Group is working on restoring the voicemail the problem may not be resolved before Friday.

ETS Solution Center - Houston, at 713-345-4745
ETS Solution Center - Omaha, at 402-398-7454


Ron -

If you have any conclusions on this, please get to Jeff Dasovich.  He is
calling Mike Peevey to try and get CDWR to take over the contracts fully
(including our LCs).

Jim

	"Ronald Carroll" <rcarroll@bracepatt.com>
	02/07/2001 03:54 PM

		 To: <andrea.settanni@enron.com>, <jsteffe@enron.com>, <Mary.Hain@enron.com>,
<smara@enron.com>, <steve.c.hall@enron.com>
		 cc:
		 Subject: Re: Challenge to exercise of Eminent Domain - Confidential Attorney
WorkProduct

Mary, I like your points about the state being without jurisdiction over the
BFM contracts (without commenting on whether such arguments would be better
made at FERC or Dist. Ct. or both venues).  We would need to research those
arguments to see if they hold up.   Ron

>>> <Mary.Hain@enron.com> 02/05/01 11:18AM >>>
Good point.
---------------------- Forwarded by Mary Hain/HOU/ECT on 02/05/2001 08:29
AM ---------------------------

Steve C Hall
02/05/2001 08:16 AM

To:   Mary Hain/HOU/ECT@ECT
cc:
Subject:  Re: Challenge to exercise of Eminent Domain - Confidential
      Attorney Work Product  (Document link: Mary Hain)

I think it may also be significant that the governor exercised his
authority over contracts, as opposed to real property.  Who ever heard of
the state "condemning a contract?"

 (Embedded
 image moved
 to file:      From:  Mary Hain
 pic15881.pcx) 02/03/2001 03:50 AM

To:   Phillip K Allen/HOU/ECT@ECT, Robert Badeer/HOU/ECT@ECT, Tim
      Belden/HOU/ECT@ECT, Shelia Benke/Corp/Enron@Enron, Donald M- ECT
      Origination Black/HOU/ECT@ECT, William S Bradford/HOU/ECT@ECT, Rick
      Buy/HOU/ECT@ECT, Andre Cangucu/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
      Alan Comnes/PDX/ECT@ECT, Wanda Curry/HOU/EES@EES, Jeff
      Dasovich/NA/Enron@Enron, Karen Denne/Corp/Enron@ENRON, Mike
      Grigsby/HOU/ECT@ECT, Mark E Haedicke/HOU/ECT@ECT, Mary
      Hain/HOU/ECT@ECT, Steve C Hall/PDX/ECT@ECT, Joe
      Hartsoe/Corp/Enron@Enron, Keith Holst/HOU/ECT@ect, Robert
      Johnston/HOU/ECT@ECT, Paul Kaufman/PDX/ECT@ECT, Steven J
      Kean/NA/Enron@Enron, Harry Kingerski/NA/Enron@Enron, Susan J
      Mara/NA/Enron@Enron, Sandra McCubbin/NA/Enron@Enron, Travis
      McCullough/HOU/ECT@ECT, Mark Metts/NA/Enron@Enron, Sarah
      Novosel/Corp/Enron@Enron, Mark Palmer/Corp/Enron@Enron, Linda
      Robertson/NA/Enron@ENRON, Richard B Sanders/HOU/ECT@ECT, Gordon
      Savage/HOU/EES@EES, Richard Shapiro/NA/Enron@Enron, Vicki
      Sharp/HOU/EES@EES, Mike D Smith/HOU/EES@EES, Shari Stack/HOU/ECT@ECT,
      James D Steffes/NA/Enron@Enron, Marty Sunde/HOU/EES@EES, Stephen
      Swain/PDX/ECT@ECT, Mitchell Taylor/Corp/Enron@ENRON, Michael
      Tribolet/Corp/Enron@Enron, Robert Williams/ENRON@enronxgate, Greg
      Wolfe/HOU/ECT@ECT, Roger Yang/SFO/EES@EES, Christian
      Yoder/HOU/ECT@ECT, dwatkiss@bracepatt.com, carrrn@bracepatt.com,
      andrea settanni
cc:   Debra Davidson/PDX/ECT@ECT, Paula Warren/HOU/EES@EES, Mercy
      Gil/NA/Enron@Enron, Karen K Heathman/HOU/ECT@ECT, Lysa
      Akin/PDX/ECT@ECT, Leticia Botello/HOU/EES@EES, Joseph
      Alamo/NA/Enron@Enron, Janette Elbertson/HOU/ECT@ECT, Bernadette
      Hawkins/Corp/Enron@ENRON, Sharon Purswell/HOU/ECT@ECT, Maureen
      McVicker/NA/Enron@Enron, Rubena
      Buerger/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Dolores
      Fisher/NA/Enron@Enron, Cindy Derecskey/Corp/Enron@Enron, Lora
      Sullivan/Corp/Enron@ENRON, Twanda Sweet/HOU/ECT@ECT, Ginger
      Dernehl/NA/Enron@Enron, Leasa Lopez/HOU/EES@EES, Iris
      Waser/HOU/EES@EES, Jan M King/HOU/ECT@ECT, Marcia A
      Linton/NA/Enron@Enron, Carol Moffett/HOU/EES@EES, Esmeralda
      Hinojosa/HOU/EES@EES, Kathryn Sheppard/PDX/ECT@ECT, Rosario
      Boling/Corp/Enron@ENRON, Emy Geraldo/NA/Enron@ENRON, Stephanie
      Truss/NA/Enron@ENRON, Anna Mehrer/PDX/ECT@ECT

Subject:  Challenge to exercise of Eminent Domain - Confidential Attorney
      Work Product

Although I don't yet have all the facts, Steve Hall said that late
yesterday (Friday) afternoon, the Governor exercised eminent domain over
the IOU forward contracts that the PX had been in the process of auctioning
to pay PX participants.  I would like Bracewell to research at least the
following two possible ways this action is unlawful.  First, this violates
the banking provisions of the PX tariff (Section 6).  These provisions
requires the PX to hold all PX accounts in trust for PX participants.
Second, these are wholesale contracts and the State only has the right to
exercise eminent domain concerning retail service.  I don't have any law to
support the second idea but think it should be researched nonetheless.


I knew there was a reason we decided to go with "Lookalikes"!

Dave

---------------------- Forwarded by David Forster/Corp/Enron on 12/05/2000
09:30 AM ---------------------------
From: Enron London - EOL Product Control Group@ECT on 12/05/2000 07:58 AM
Sent by: Lara Fields@ECT
To: David Forster/Corp/Enron@Enron
cc: Amita Gosalia/LON/ECT@ECT

Subject: Lookalike Naming

Dave,

After hearing of Mark Taylor's concerns on using 'Lookalike' in the short
descriptions, we canvased the traders who would be affected (Metals and
Liquids) to get their views.

Below are Chris Mahoney's comments.

Regards,
Lara

Chris Mahoney
02/12/2000 23:54
To: Enron London - EOL Product Control Group/LON/ECT@ECT
cc: David Lilley/EU/Enron@Enron, Tim R Jones/EU/Enron@Enron, Neil
Hussey/EU/Enron@Enron, James A Gordon/EU/Enron@Enron, Mark Jones/LON/ECT@ECT,
Niamh Clarke/LON/ECT@ECT, Enron London - EOL Product Control
Group/LON/ECT@ECT

Subject: Re: Lookalike Naming

They are futures being traded online and if we call them swaps that might
confuse customers because in
the oil market swaps are always considered to be full calender months and
price out on a daily basis.
for example if we have dec swap instead of dec lookalike that will have two
different meanings to the mkt.
the former be a full month swap with daily pricings and the latter being
being a swap that has the same dates
as the futures contract with a one day settlement.   I think we would be
making a mistake changing for these
reasons.


[IMAGE] [IMAGE]

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Please note  that this e-mail was sent to the following address:  pmims@enron.com


<<Form of Incumbency Certificate>> Your message

  To:      jbyrnes@dlalaw.com
  Cc:      Stuart Zisman
  Subject: Form of Incumbency Certificate
  Sent:    Thu, 13 Jul 2000 14:10:25 -0400

was delivered to the following recipient(s):

Byrnes, John on Thu, 13 Jul 2000 14:09:43 -0400

Message-ID: <8625691B.0063D53A.00@notes.ect.enron.com>
From: Tana.Jones@enron.com
To: jbyrnes@dlalaw.com
Cc: Stuart.Zisman@enron.com
Subject: Form of Incumbency Certificate
Date: Thu, 13 Jul 2000 14:10:25 -0400
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"


can you change #23 and #375 to Nymex


This paper will be filed at FERC tomorrow.  Here's a copy for you file.  Ron
will send us the final version of the cover motion tomorrow.

 - 00-10-19 SA Enron White Paper - Final.doc


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 10/27/2000
04:46 PM ---------------------------

Shirley Crenshaw
10/24/2000 10:19 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Ameriflash Newsletter

Michell Vitrella called and wanted to know if the "Research Group" would
like to submit an article for the next issue of the ENA Newsletter
("Ameriflash)

They need to have the article by tomorrow.

Thanks!

Shirley

---------------------- Forwarded by Shirley Crenshaw/HOU/ECT on 10/24/2000
10:15 AM ---------------------------

	From:  Michelle Vitrella                           10/24/2000 09:53 AM

To: Shirley Crenshaw/HOU/ECT@ECT
cc:
Subject: Ameriflash Newsletter

---------------------- Forwarded by Michelle Vitrella/HOU/ECT on 10/24/2000
09:54 PM ---------------------------

	Enron North America Corp.

	From:  ENA Public Relations @ ENRON                           10/19/2000
08:25 PM

Sent by: Enron Announcements@ENRON
To: All_ENA_EGM_EIM
cc:
Subject: Ameriflash Newsletter

NOTE FROM MARK FREVERT

With the wide and varied activities of our three organizations, we created
this e-mail newsletter to keep everyone better informed about our various
businesses.  I hope you find it informative and more importantly, that you
will use this newsletter to help spread the word about the successes in your
group.

To provide content for future e-mails, contact Michelle Vitrella in our
Public Relations group via e-mail or call her at ext. 3-9767.  Communication
is one of the core Enron values and I believe this is a great way to improve
communication across our wholesale businesses.

Additionally, I would like to again encourage everyone to take a few minutes
to complete &The Pulse8 survey.  This annual survey regarding the work
experience at Enron and how we can make it better is an important part of the
two-way communication process at Enron.  Please go to the Enron intranet and
type survey.enron.com.  It only takes a few minutes, it,s confidential and
your comments will help make Enron a better place to work.

BUSINESS HIGHLIGHTS

Natural Gas
Middle Marketing,s biggest trade of the year so far occurred this month.  The
significant transaction was a five year, multimillion dollar restructuring
with a subsidiary of Formosa Plastics, one of the world,s largest producers
of polyvinyl chloride.

Additionally, Continental Airlines, the fifth largest US carrier, has hedged
a considerable amount (1.2 million barrels/month) of crude oil.   Winter
Nymex hedges were put in place for the undisputed heavyweight chip champ of
the world, Frito Lay.

Pulp & Paper
With the acquisition of Garden State Paper and launch of Clickpaper.com,
Enron is creating an efficient spot physical market for pulp and paper
commodities.  Buyers and sellers will benefit from improved price
transparency and reliability and access to Enron,s online financial markets.

Improved price transparency and the ability to imbed financial derivatives
into physical trading flows will facilitate the growth of Enron,s trading
business.  To date, Clickpaper.com has traded over 1 millions tons of pulp
and paper product with a notional value of over $675 million.

Upstream Origination
Upstream Origination, headed by Julie Gomez and Jean Mrha, focuses on natural
gas products to optimize commercial value associated with the natural gas
grid on the continent and in the Gulf of Mexico (GOM).  Through products such
as storage, electric compression and producer services & outsourcing, ENA
creates value for its customers and reconfigures the natural gas
infrastructure to be more efficient.  In addition, Upstream Origination
transactions exploit the unique relationship between development of strategic
assets through sophisticated financing structures and the utilization of the
market information created by those assets.

&THE PULSE8 SURVEY RESULTS

As of Wednesday, October 18, the total responses to &The Pulse8 from
ENA/EGM/EIM are 689.  This is approximately 30% of all employees.  Since our
goal is a 100% response rate, we have a long way to go!  Please take a few
minutes to log on and give Enron your thoughts.  The Pulse is located at
survey.enron.com on the Enron intranet page.

If you like competition, here are the results by group:

Commercial - Origination  131
Energy Operations   126
Risk Management and Trading 106
Other/None of the Above  91
Bus. Analysis & Rep./Fin. Ops. 90
Legal     46
Gas Assets    37
Human Resources   30
Tax     18
Technology/IT    14

WELCOME

Transferred Into ENA/EIM/EGM
ENA - Kathleen Neal/HR, Suzanne Kelly/Infocentral, Tobias Monk/Finance Direct
EIM - Eric Connor/Industrial Energy Group
EGM - Eric Calub/Global Product Mgmt

New Hires ENA/EIM/EGM
ENA - Lance Cunningham/CTS Research, Anita Dupont/CTS Research, Yvette
Hales/Gas Logistics ) East, Angela Howell/Equity Trading, Farid Mithani/Power
Risk-Credit
EGM - Heather Purcell/Enron Global Markets

IN THE NEWS

&No company illustrates the transformative power of innovation more
dramatically than Enron.  Over the past decade Enron,s commitment to the
invention*and later domination*of new business categories has taken it from a
$200 million old-economy pipeline operator to a $40 billion new-economy
trading powerhouse.8
From &The World,s Most Admired Companies,8 Fortune, Monday, October 2

NUGGETS & NOTES

&What,s the message we,re trying to get across?8 ) Ray Bowen, COO EIM

&I,m not a micro-manager8 - John Lavorato, COO ENA

&Make it so, number one8 ) Jeff Shankman, COO EGM

CONTEST

Enron is & The Most Innovative Company8 based on Fortune Magazine,s Most
Admired Survey.  ENA Public Relations is ready to put Enron North America,
Industrial Markets and Global Markets to the test.  We need your creative
minds to help name the NEW Electronic Newsletter we now call AmeriFlash.  Put
on your thinking caps and submit your ideas for a new name to
michelle.vitrella@enron.com.  The ENA Public Relations Team will narrow the
list to the TOP TEN and then send it to our official judge, Mark Frevert, to
make the final decision.  The winner will receive a gift certificate to any
Pappas restaurant.  GOOD LUCK!


This looks good.

Thanks,
Mike


TO  HIRING MANAGERS AND ASSISTANTS,      (Please forward to anyone not
included.)

New! Staffing Requisition Form:

With the implementation of SAP, this form is now the critical key factor to
(1) get your new employee paid, (2) charge to the appropriate dept., (3)
create the necessary "position" for the employee in SAP, and (4) post your
opening to Web sites.
To Expedite The Hiring Process,  please complete the attached form to request
staff:  Additions, Replacements, Transfers, Contractors/Temporaries, and
Part-Time Personnel. (RED sections only)
Return this form via e-mail.

New! Candidate Interview Form:

We recognize the need to schedule candidate interviews as promptly as
possible.
To Expedite The Interviewing Process,  please complete the attached form when
requesting a candidate to be interviewed. (RED sections only)
Return this form via e-mail with the resume.   If you only have a hardcopy of
the resume, please send this form and resume to me at EB-3658B.

Employee Referral Policy & Form:

To provide incentives for current domestic employees of Enron Corp. and it's
subsidiaries referring applicants who are hired for regular full-time U.S.
payroll-based positions within Enron. ($1,000 for non-exempt & $2,000 for
exempt)
Return this form via e-mail with the resume.   If you only have a hardcopy of
the resume, please send this form and resume to me at EB-3658B.

If you have any questions or need assistance with your new SAP data
requested,  please let me know.

Thank you in advance for your cooperation,
Toni Graham
Staffing Consultant
ENA Commercial Support
x39995


Start Date: 4/7/01; HourAhead hour: 18;  No ancillary schedules awarded.
Variances detected.
Variances detected in Generation schedule.
Variances detected in Energy Import/Export schedule.
Variances detected in Load schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001040718.txt

---- Generation Schedule ----
$$$ Variance found in table tblGEN_SCHEDULE.
     Details: (Hour: 18 / Preferred:  20.00 / Final:  20.76)
  TRANS_TYPE: FINAL
  SC_ID: TOSCO
  MKT_TYPE: 2
  TRANS_DATE: 4/7/01
  UNIT_ID: UNCHEM_1_UNIT

---- Energy Import/Export Schedule ----
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 18 / Preferred:  12.00 / Final:  11.98)
  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 4/7/01
  TIE_POINT: PVERDE_5_DEVERS
  INTERCHG_ID: EPMI_CISO_DANTE
  ENGY_TYPE: WHEEL
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 18 / Preferred:  20.00 / Final:  17.22)
  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 4/7/01
  TIE_POINT: FCORNR_5_PSUEDO
  INTERCHG_ID: EPMI_CISO_SCOUT
  ENGY_TYPE: FIRM

---- Load Schedule ----
$$$ Variance found in table tblLoads.
     Details: (Hour: 18 / Preferred:   5.19 / Final:   4.99)
  TRANS_TYPE: FINAL
  LOAD_ID: PGE2
  MKT_TYPE: 2
  TRANS_DATE: 4/7/01
  SC_ID: EPMI
$$$ Variance found in table tblLoads.
     Details: (Hour: 18 / Preferred:  47.46 / Final:  45.67)
  TRANS_TYPE: FINAL
  LOAD_ID: PGE3
  MKT_TYPE: 2
  TRANS_DATE: 4/7/01
  SC_ID: EPMI


ISDA has published the referenced supplement.  Among other changes, the
supplement adds hundreds of new gas, liquids and power price sources.  Copies
will be distributed to you.


Enron Troubles Only the Tip of the Iceberg?
TheStreet.com, 10/26/2001

Under the Radar: Enron's Flickering Bulb
TheStreet.com, 10/26/2001

DJ Enron Unit,New England Market Downplay Report Of Default
Dow Jones, 10/26/2001

Enron Lawsuit Over Microsoft Broadband Agreement May Block MSN
Bloomberg, 10/26/01

Enron Executives Sent Requests for Details of Affiliate Profits
Bloomberg, 10/26/01

Enron Still Target in California Amid Other Problems (Update1)
Bloomberg, 10/26/01

Enron Bonds Fall as Company Taps $3 Bln Credit Line (Update5)
Bloomberg, 10/26/01

Keller Rohrback L.L.P. Investigates Potential Claims on Behalf of Enron Corp. -- ENE -- Employees and Former Employees
Business Wire, 10/26/01

Enron Troubles Only the Tip of the Iceberg?
By Peter Eavis <mailto:peavis@thestreet.com>
Senior Columnist
TheStreet.com
10/26/2001 05:23 PM EDT
URL: <http://www.thestreet.com/markets/detox/10003083.html>

Dealings with a related party have tarnished Enron's (ENE:NYSE - news - commentary) reputation and crushed its stock, but it looks like that case is far from unique.
The battered energy trader has done business with at least 15 other related entities, according to documents supplied by lawyers for people suing Enron. Moreover, Enron's new CFO, who has been portrayed by bulls as opposing the related-party dealings of his predecessor, serves on 12 of these entities. And Enron board members are listed as having directorships and other roles at a Houston-based related entity called ES Power 3.
The extent of Enron's dealings with these companies, or the value of its holdings in them, couldn't be immediately determined. But the existence of these partnerships could feed investors' fears that Enron has billions of dollars of liabilities that don't show up on its balance sheet. If that's so, the company's financial strength and growth prospects could be much less than has generally been assumed on Wall Street, where the company was long treated with kid gloves.
Enron didn't immediately respond to questions seeking details about ES Power or about the role of the chief financial officer, Jeff McMahon, in the various entities. Enron's board members couldn't immediately be reached for comment.
Ten Long Days
Enron's previous CFO, Andrew Fastow, was replaced by McMahon Wednesday after investors criticized Fastow's role in a partnership called LJM, which had done complex hedging transactions with Enron. As details of this deal and two others emerged, Enron stock cratered.
The turmoil that resulted in Fastow's departure began two weeks ago, when Enron reported third-quarter earnings that met estimates. However, the company failed to disclose in its earnings press release a $1.2 billion charge to equity related to unwinding the LJM transactions. Since then, investors and analysts have been calling with increasing vehemence for the company to divulge full details of its business dealings with other related entities. Enron stock sank 6% Friday, meaning it has lost 56% of its value in just two weeks.
Enron's End Run?
New financial chief's involvement in Enron business partners
Enron-Related Entity	Creation DateMcMahon Involved?

ECT Strategic Value Corp.4/18/1985	Yes
JILP-LP Inc.	9/27/1995	Yes
ECT Investments Inc.	3/1/1996	Yes
Kenobe Inc.	11/8/1996	Yes
Enserco LLC	1/7/1997	Yes
Obi-1 Holdings LLC	1/7/1997	Yes
Oilfield Business Investments1/7/1997	Yes
HGK Enterprises LP Inc.	7/29/1997	Yes
ECT Eocene Enterprises III Inc.2/20/1998Yes
Jedi Capital II LLC	9/4/1998	Yes
E.C.T. Coal Company No. 12/31/1998	Yes
ES Power 3 LLC	1/7/1999	Yes
Enserco Inc.	3/25/1999	No
LJM Management LLC	7/2/1999	No
Blue Heron I LLC	9/17/1999	No
Whitewing Management LLC2/28/2000	No
Jedi Capital II LLC	4/16/2001	No
Source: Detox
However, Enron has yet to break out a full list of related entities. The company has said nothing publicly about McMahon's participation in related entities, nor has it mentioned that its board members were directors or senior officers in ES Power 3. (Nor has it explained the extensive use of Star Wars-related names by the related-party companies.) It's not immediately clear what ES Power 3 is or does. So far, subpoenas issued by lawyers suing Enron have determined the names of senior officers of ES Power 3 and its formation date, January 1999.
Among ES Power 3's senior executives are Enron CEO Ken Lay, listed as a director, and McMahon and Fastow, listed as executive vice presidents. A raft of external directors are named as ES Power 3 directors, including Comdisco CEO Norman Blake and Ronnie Chan, chairman of the Hong Kong-based Hang Lung Group. A Comdisco spokeswoman says Blake isn't commenting on matters concerning Enron and a call to the Hang Lung group wasn't immediately returned.
Demands, Demands
Rating agencies Moody's, Fitch and S&P recently put Enron's credit rating on review for a possible downgrade after an LJM deal that led to the $1.2 billion hit to equity. Enron still has a rating three notches above investment grade. But its bonds trade with a yield generally seen on subinvestment grade, or junk, bonds, suggesting the market believes downgrades are likely.
If Enron's rating drops below investment grade, it must find cash or issue stock to pay off at least $3.4 billion in off-balance sheet obligations. In addition, many of its swap agreements contain provisions that demand immediate cash settlement if its rating goes below investment grade.
Friday, the company drew down $3 billion from credit lines to pay off commercial paper obligations. Raising cash in the CP market could be tough when investors are jittery about Enron's condition.
This week, a number of energy market players reduced exposure to Enron. However, in a Friday press release, CEO Lay said that Enron was the "market-maker of choice in wholesale gas and power markets." He added: "It is evident that our customers view Enron as the major liquidity source of the global energy markets."
McMahon reportedly objected to Fastow's role in LJM, allegedly believing it posed Fastow with a conflict of interests. But he will need to convince investors that the 12 entities he's connected to don't do the same. Enron has said that its board fully approved of the LJM deals that Fastow was involved in. Now, board members will have to comment on their own roles in a related entity.

Under The Radar: Enron's Flickering Bulb
By Christopher Edmonds <mailto:cedmonds@thestreet.com>
Special to TheStreet.com
10/26/2001 05:08 PM EDT
URL: <http://www.thestreet.com/comment/chrisedmonds/10003075.html>

While the bulb at Enron (ENE:NYSE - news - commentary) may not have burnt out, it's clearly flickering. To date, investors aren't sure whether Chairman and CEO Ken Lay is up to the task of re-energizing the company he once built to greatness.
What's happened at the Houston energy giant-turned-dwarf could've been imagined with any number of ne'er-do-well companies during the well-chronicled bubble. But this is Enron. As one longtime Enron bull and shareholder said, "I never had to worry about Enron's ability to survive until this week. I still find it hard to believe."
Peter Eavis has done an exceptional job of chronicling Enron's adventures for some time. If you'd listened to him earlier this year, you'd have profited from his knowledge. His reporting on Enron's partnership shenanigans to the departure of Chief Financial Officer Andrew Fastow has been outstanding.
The rumors -- from a pending bankruptcy to a Justice Department investigation -- are, for now, just that. And, Enron did not single-handedly cause the California power crisis, nor is Royal Dutch/Shell (RD:NYSE - news - commentary) about to make a bid to buy the company. Sources do tell me that head-count reductions are likely through employee buyout offers and the company is set to refocus on its core energy business. And, while former CEO Jeff Skilling shares culpability for the current mess, his departure appears only indirectly related to Enron's current woes.
Now, Enron faces the daunting challenge of rebuilding both its business and, more importantly, its reputation.
The Company's Challenge
But what does Enron do now? It's very simple. Come clean, clean up the mess and refocus on its core business: wholesale energy markets, risk management and retail energy services. They support each other and create a platform that can be plenty profitable without a lot of gimmicks.
"Our gut feel is that Enron can pull it off, and long-term investors should hold firm, as eventually the stock gets valued on earnings, with upside potential to $25 per share over the next 12-18 months," says Jeff Dietert, power analyst at Simmons & Co. and a member of the TSC Energy Roundtable. "We believe new money with high risk tolerance should wait until Enron announces its intentions for communicating a clear path to recovery."
Dietert outlines four challenges for Enron. One, management must regain the Street's confidence and persuade investors that it can resolve balance-sheet strength and generate the expected earnings and cash flow. Two, Enron must maintain its investment-grade credit rating. Three, Enron must successfully execute its divestiture plans. Four, Enron must control the timing of the recognition of the write-down in the value of any assets where market value is less than book.
Straightforward? Yes. Easy to accomplish? No.
Although Enron says additional write-downs are unlikely -- except a $200 million charge early next year as the result of an accounting change -- analysts aren't so sure. They're focused on the company's Global Assets portfolio, sporting $6 billion in book value but generating an EBIT (earnings before interest and taxes) loss of $18 million over the past 12 months.
The divestitures include $390 million in exploration and production assets in India, $250 million in a Puerto Rico power plant and $250 million in a Brazilian power plant in the fourth quarter as well as the pending sale of Portland General, which is set to close in 2002. There will likely be others. However, Enron has to execute here, and given the current state of its affairs, the seller will feel the pressure.
The credit-rating issue is a fine line. The current ratings, BBB+ from Standard & Poor's and Baa1 from Moody's, are three levels above non-investment grade. However, both rating agencies now have Enron on their radar screens for possible downgrades. Dietert estimates that Enron's debt-to-market cap will be about 48% by year-end, and the company has interest coverage (EBITDA/ interest expense) of about 3.5 times. By comparison, the average S&P BBB-rated company has a debt-to-cap of 47.4% and interest coverage of about 6.1 times. The average BB company has debt-to-cap of 61.3% and interest expense of 3.8 times.
Frankly, everything falls on Enron's management team and its ability to reassure investors. "If Enron's management does not step up to calm investor fears, these fears could become a self-fulfilling prophecy," Dietert says. "In the potentially vicious cycle, investor fears could drive stocks down; the lower stock prices force the rating agencies to consider downgrades; potentially lower credit ratings force counter-parties to reduce exposure to Enron, limiting Enron's ability to generate earnings and cash flow."
It's time for Enron to grow up. Despite a lot of uncertainties and risk, I think it will. Investors with risk capital should do their homework on the stock and think about strategy. It's a tough call that requires strict, individual discipline.
There's an irony to this whole story, especially in Enron's lack of candor in reporting its financial results. In a much-lauded advertising campaign, Enron, looking to challenge conventional wisdom, asks the simple question, "Why? Ask why."
Investors are now asking. It's time for Ken Lay to answer.
First Things First
Many readers have asked about my relative quietness this week. Thank you for your concern. My father has fallen ill after fighting the effects of a brain tumor for more than a decade.
The choice was easy. I'm with him and my family.
Enjoy your weekend with family and friends.

DJ Enron Unit,New England Market Downplay Report Of Default
2001-10-26 17:14 (New York)

   By Kristen McNamara
   Of DOW JONES NEWSWIRES

  NEW YORK (Dow Jones)--Enron Corp.'s (ENE) retail sales unit defaulted on its
credit requirement in New England's wholesale power market this month, but the
event was neither unique nor newsworthy, the energy company and the
organization that developed the market's rules said Friday.

  The operator of the region's wholesale power market informed Enron Energy
Services last week that, for the third time in 12 months, it had traded a
greater volume of electricity than allowed by the bond it had posted and was at
risk for expulsion from New England's market.

  But it was administrative mixups, rather than financial problems, that
triggered the warning, which a few other companies have also received in the
past, the market's rulemaker said.

  "I can state with considerable confidence that there have been other
participants" that have defaulted on their credit agreements, "and it's never
been in the news," said David Doot, secretary and general counsel for the New
England Power Pool, which developed the policies governing the region's
electricity market. "My instinct is that this is blown way the hell out of
proportion."

  News of the Enron unit's default appeared in a trade publication and a major
metropolitan newspaper this week, as Enron's dealings with partnerships headed
by its former chief financial officer contributed to a plunge in the company's
stock and bond prices.

  Enron Energy Services never received word that it had defaulted on its
bonding requirement twice before, because both times it corrected the problem
within a day, spokeswoman Peggy Mahoney said.

  The letter sent by ISO New England, which operates the region's power market,
to notify the Enron unit of its third violation was addressed to the wrong
person, delaying the company's response, Mahoney said.

  "Clearly, it was an administrative error that we immediately took care of to
ensure that we would never exceed the volume limit," Mahoney said.

  The company resolved the problem by Oct. 19, Mahoney said. ISO New England
spokeswoman Ellen Foley confirmed Friday that the company had cured its
default.

  It's rare for a company to default three times, but it has happened on
occasion, Foley and Doot said.

  "I won't say it's commonplace, but I won't say it's unusual for a participant
to find itself out of compliance," Doot said. "Those things have in fact
happened from time to time."

  -By Kristen McNamara, Dow Jones Newswires; 201-938-2061;

Enron Lawsuit Over Microsoft Broadband Agreement May Block MSN
2001-10-26 16:47 (New York)

Enron Lawsuit Over Microsoft Broadband Agreement May Block MSN

     Houston, Oct. 26 (Bloomberg) -- Enron Corp.'s lawsuit
alleging Microsoft breached a contract for broadband services
could temporarily block the largest software company's high-speed
Internet service in some U.S. regions.

     Microsoft said the dispute temporarily blocks the company
from providing the high-speed service in areas where Enron
provides broadband access, leaving MSN fully operational only in
the 14 states where Qwest Communications International Inc.
operates, said Bob Visse, director of marketing for MSN.

     Enron's lawsuit was filed yesterday. Microsoft had planned to
offer fast Internet access in 45 cities beginning yesterday to
give the largest software company access to potential customers in
29 million homes. Microsoft, the No. 2 U.S. Internet provider, is
making a push to win customers from AOL Time Warner Inc.

     ``We are trying to resolve the issues with Enron as quickly
as possible and at the same time we are evaluating other
providers,'' Visse said.

     Officials at Houston-based Enron, the largest energy trader,
did not immediately return calls for comment.

                         The Agreement

     Enron in June signed an agreement with Microsoft to provide
bandwidth for MSN Internet service. Under the agreement, Enron
isn't required to deliver operational broadband services if
Microsoft hasn't first provided a billing and ordering system, Dow
Jones newswire reported.

     Enron claims in its lawsuit that Microsoft failed to deliver
the ordering and billing system required in the initial phase of
the deal, Dow reported.

     Enron's lawsuit comes after Microsoft said in an Oct. 23
letter that Enron will have breached the contract if it hasn't
provided an operational bandwidth system by Oct. 25, allowing
Microsoft to recover damages.

     Shares of Redmond, Washington-based Microsoft fell 36 cents
to $62.20, while Enron shares fell 95 cents to $15.40.

--Joyzelle Davis in Los Angeles (213) 617-0582, or

Enron Executives Sent Requests for Details of Affiliate Profits
2001-10-26 15:36 (New York)

Enron Executives Sent Requests for Details of Affiliate Profits

     Houston, Oct. 26 (Bloomberg) -- Lawyers for a shareholder
suing Enron Corp. are asking executives of the largest energy
trader to disclose any income they made from their involvement
with affiliated companies that bought and sold Enron assets.

     Lawyers have made the requests to President Greg Whalley,
Vice Chairman Mark Frevert and Chief Financial Officer Jeff
McMahon and 83 other employees arrived at Enron's Houston offices
this week, said Paul Paradis, a partner in the New York law firm
Abbey Gardy. Requests also were sent to 17 Enron partnerships such
as Whitewing Management and Marlin Water.

     Paradis represents Fred Greenberg, an Enron shareholder who
is suing the company's board for allowing former Chief Financial
Officer Andrew Fastow to run partnerships that cost the company at
least $35 million in cash and $1.2 billion in lost shareholder
equity.

     The requests are aimed at determining if Enron executives
benefited financially from roles as officers and directors of
partnerships that bought and sold company assets. Enron formed at
least 18 such affiliated companies, listing executives and
employees as officers and directors of the partnerships, according
to Texas secretary of state records.

     Under Texas law, failure to respond to the document requests
will result in subpoenas being issued. Subpoenas could go out next
week if responses don't arrive by then, Paradis said. Enron
spokeswoman Karen Denne didn't respond to requests for comment
about the document requests.

     The executives earned no income from the partnerships, Enron
spokesman Mark Palmer has said. ``There are no financial interests
in the structures themselves for any Enron employee,'' Palmer
said. He said it's common for a company to name its executives to
the boards of affiliates.

                       Affiliates Have Debts

     Texas records show Chief Executive Officer Kenneth Lay,
Frevert, Whalley, McMahon and dozens of other people who list
their address as Enron's corporate headquarters serving as
officers and directors of limited liability companies and foreign
business corporations.

     The document requests ask Enron executives for information on
any form of compensation or benefit received from any of the
affiliates, including stock grants and options. They also ask the
executives to disclose any equity or partnership interests in the
affiliates.

     Enron formed many of the affiliates to buy company assets
such as power plants and natural-gas pipelines. That allowed Enron
to move debt associated with those projects off its books.

     The affiliates bought the assets with borrowed money. They
plan to repay the debt by eventually selling the assets. Enron
might be liable for any shortfall between the sales proceeds and
the debt. That could amount to at least $3.3 billion if the assets
don't generate any money, a remote possibility, the company has
said.

                            Few Answers

     Investors and analysts pressed Enron Chief Executive Officer
Kenneth Lay for details on the finances of the partnerships in a
conference call Tuesday.

     Today, Enron spokeswoman Karen Denne didn't respond to
questions about one of them, ES Power 3 LLC.

     Texas records list 78 Enron executives and employees as
officers, directors and managers of ES Power 3 LLC. The entire
Enron board is also listed.

     Shares of Enron $1.15 to $15.20 in late trading.

--Russell Hubbard in the Princeton newsroom at 609-750-4651, or at

Enron Still Target in California Amid Other Problems (Update1)
2001-10-26 16:15 (New York)

Enron Still Target in California Amid Other Problems (Update1)

     (Updates with closing share price in last paragraph.)

     Sacramento, California, Oct. 26 (Bloomberg) -- Enron Corp.,
facing an inquiry by federal securities regulators into
partnerships run by the former chief financial officer, remains a
target of investigations and lawsuits in California.

     California lawmakers and regulators have accused power
providers of manipulating the state's energy market to raise
prices. Enron, the biggest energy trader, and other power sellers
have denied the charges repeatedly.

     Next month, a California Senate committee investigating the
power market plans to hold a hearing to determine if Enron and
other generators are complying with subpoenas for trading
documents. Enron has been filing documents in Sacramento,
California.

     ``They are still putting documents in their depository, and I
don't think they've completed that process,'' said Alexandra
Montgomery, a consultant to the committee. It ``remains to be
seen'' whether Enron is complying with its subpoena, she said.

     The suits and inquiries came after wholesale power prices in
California soared, leaving the state's two largest utilities
insolvent. Under California's plan to open its electricity market
to competition, the utilities of PG&E Corp. and Edison
International weren't allowed to pass rising costs to customers.

     ``I know that we're doing our best to comply with what the
committee is asking for,'' Enron spokesman Mark Palmer. ``We are
putting documents in the depository, and we're looking forward to
a speedy resolution.''

     Shares of Houston-based Enron have fallen by more than half
since Oct. 16. The company ousted Andrew Fastow as the chief
financial officer Wednesday amid a U.S. Securities and Exchange
Commission inquiry into a partnership he ran that cost Enron $35
million.

                            Grand Jury

     Enron also is one of the companies being investigated for
civil and criminal violations by California Attorney General Bill
Lockyer, who convened a grand jury in June.

     Lockyer has been criticized by Enron officials for telling
the Wall Street Journal in May that he would like to put Enron
Chairman Kenneth Lay in ``an 8 x 10 cell that he could share with
a tattooed dude who says `Hi my name is Spike, honey.' '' Lockyer
later apologized for the remark.

     The attorney general's investigation is proceeding, Lockyer
spokeswoman Sandra Michioku said. Michioku said she didn't know
when civil or criminal charges against Enron or other power
providers might be filed.

     ``Our investigation is still being pursued,'' she said. ``We
had to go to court to get Enron to turn over documents, so that
slowed things down a bit.''

     Enron's Palmer said he didn't know the status of the attorney
general's investigation.

     ``I think the attorney general demonstrated his willingness
to take a fair and impartial look a long time ago when he made his
vulgar and unfounded remarks about our chairman,'' Palmer said.

                           More Lawsuits

     Enron, along with other major power providers such as Duke
Energy Corp. and Dynegy Inc., face at least five lawsuits alleging
they manipulated California energy prices in violation of
antitrust laws.

     The cases, which include separate complaints filed by the
City of San Francisco, California Lieutenant Governor Cruz
Bustamante and various consumers, currently are in state courts
awaiting a coordination proceeding, said Michael Aguirre, a lawyer
representing Bustamante. The lawsuits should be assigned to a
judge by the end of next month, he said.

     If the complaints succeed, the companies might be ordered to
repay profits from any illegal activities and pay fines, including
triple damages.

     Enron's stock fell 95 cents, or 5.8 percent, to $15.40,
declining for the eighth day in a row. The shares have fallen 80
percent in the past 12 months.

--Daniel Taub in Los Angeles, (323) 801-1261 or

Enron Bonds Fall as Company Taps $3 Bln Credit Line (Update5)
2001-10-26 16:18 (New York)

Enron Bonds Fall as Company Taps $3 Bln Credit Line (Update5)

     (Adds investor comment in fourth paragraph.)

     Houston, Oct. 26 (Bloomberg) -- Enron Corp. bonds and shares
fell after the largest energy trader tapped a $3 billion credit
line because it has been shut out of the leading market for low-
interest, short-term loans.

     The company's stock has fallen 54 percent in the past 14 days
after investors questioned its transactions with affiliates run by
Enron's former chief financial officer. The shares fell 95 cents,
or 5.8 percent, to $15.40 today.

     Chief Executive Officer Kenneth Lay has failed to reassure
investors that the company's credit rating won't be cut, investors
said. Enron can no longer borrow in commercial paper markets,
where short-term loans carry lower rates than banks offer.

     ``Do they have the financial flexibility they once had? No,''
said John Cassady, who helps manage $3 billion in bonds at Fifth
Third Bancorp. ``People are questioning the credibility of
management.''

      The company will use its credit line to pay off $2.2 billion
in commercial paper it has outstanding, Enron spokesman Mark
Palmer said.

                            Bonds Drop

     Enron's 6 3/4 percent bonds, which mature in 2009, declined 1
1/2 points to a bid of 84 cents on the dollar and an offer of 86
cents. At that price, the bonds, which carry a rating of ``BBB+,''
yield 9.53 percent.

     Investors have grown concerned that the company's credit
rating will be cut after $1.01 billion in third-quarter losses
from failed investments. Enron needs good credit to raise cash
daily to keep trading partners from demanding collateral and to
settle transactions.

     Enron's decision to tap its credit line was ``a smart
financial move,'' said Stephen Moore, a vice president at Moody's
Investors Service who follows the company. ``It took away the
hassle and time-consuming nature of rolling commercial paper and
insured access to capital.''

     Though Enron's bonds have investment-grade ratings, their
yield at current prices is higher than those of industrial bonds
that carry junk ratings. According to Bloomberg data, companies
with ``BB'' ratings pay on average 9.16 percent to borrow for
seven years.

     A lower credit rating may also force Enron to buy back
holdings in other partnerships with its stock, diluting the value
of Enron investors' stock.

     Partnerships called Whitewing, Marlin and Yosemite own Enron
assets they bought with borrowed money. Enron sold the assets to
the partnerships to keep related debt off its books. The
partnerships plan to repay the borrowed money by selling the
assets.

                         Other Liabilities

     If Enron loses investment-grade rating, the borrowed money
comes due earlier, leaving less time for the partnerships to find
the best price for the power plants and other assets. Enron would
have to make up any shortfall between what the assets would sell
for and the amount of the debt.

     One way would be issuing common shares to exchange for Enron
preferred convertible shares held by the partnerships. That would
thin out the holdings of every other investor.

     Of the two main bond-rating companies, Moody's and Fitch have
Enron on watch for possible downgrade, and Standard & Poor's
lowered Enron's long-term credit outlook to negative. Egan-Jones
Rating Co. today lowered its rating on Enron's debt to ``BB+,''
one notch below investment grade, from ``BBB-.''

     Enron's liabilities associated with the partnerships amount
to at least $3.3 billion, the company has said.

     Enron ousted Chief Financial Officer Andrew Fastow on
Wednesday amid a Securities and Exchange Commission inquiry into a
partnership he ran that cost the company $35 million in direct
losses. Enron also bought back 62 million shares from the
partnership, reducing shareholder equity by $1.2 billion.

     ``It looks like the guy who was supposed to do everything for
the benefit of shareholders was running partnerships for the
benefit of himself,'' Fifth Third's Cassady said.

     Jeff McMahon, head of Enron's industrial markets group, was
named CFO in a bid to restore investor confidence, Lay said in a
statement.

--Russell Hubbard in the Princeton newsroom at 609-750-4651, or at

Keller Rohrback L.L.P. Investigates Potential Claims on Behalf of Enron Corp. -- ENE -- Employees and Former Employees

10/26/2001
Business Wire
(Copyright (c) 2001, Business Wire)

SEATTLE--(BUSINESS WIRE)--Oct. 26, 2001--Seattle's Keller Rohrback L.L.P. is currently investigating potential ERISA claims on behalf of participants and beneficiaries of Enron's retirement and 401(k) plans.
The investigation period covers January 2000 through October 2001. The investigation focuses on concerns that, under the law interpreting ERISA, Enron and its plan administrators may have breached their fiduciary duties of loyalty and prudence by failing to disclose and inform the Plan participants and beneficiaries with respect to the use of employer stock as a Plan investment. Rather than providing complete and accurate information to the Plans' participants, it may be alleged that Enron and the plan administrators may have withheld and concealed material information, thereby encouraging participants and beneficiaries to continue to make and to maintain substantial investments in company stock and the Plans. This investigation is being conducted in light of recent events.
On Oct. 16, 2001, Enron surprised the market when it announced that the Company was taking "non-recurring charges totaling $1.01 billion after-tax, or ($1.11) loss per diluted share," in the third quarter of 2001. Enron later revealed that a material portion of the charge related to the unwinding of investments with certain limited partnerships, controlled by Enron's CFO, and that the Company would be eliminating more than $1 billion in shareholder equity as a result of its unwinding of the investments. As this news began to be assimilated by the market, the price of Enron common stock dropped significantly. In addition, several recently filed securities suits allege that Enron executives engaged in extensive insider trading, gaining millions of dollars in personal proceeds. Enron retirees have lost a substantial portion of their retirement earnings due to the drop in value of their retirement assets.
If you are a member of an Enron retirement plan, wish to discuss this announcement, or have information relevant to the investigation, you may contact paralegal Liza Catabay, or any member of our team (Britt Tinglum, Liza Catabay, or Lynn Sarko) toll free at 800/776-6044, or via e-mail at investor@kellerrohrback.com.
Seattle's Keller Rohrback L.L.P. has successfully represented shareholders and consumers in class action cases for over a decade. Its trial lawyers have obtained judgments and settlements on behalf of clients in excess of seven billion dollars.

CONTACT: Keller Rohrback L.L.P. Liza Catabay, 800/776-6044 investor@kellerrohrback.com www.SeattleClassAction.com
15:16 EDT OCTOBER 26, 2001
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.


Subject: New Virus Alert !!!

New Virus Taking Offices By Storm
  This virus warning is genuine.

There is a new virus going around, called "work."   If you receive any sort
of "work" at all, whether via email, Internet or simply handed to you by a
colleague...DO NOT OPEN IT.

This has been circulating around our building for months and those who have
been tempted to open "work" or even look at "work" have found that their
social life is deleted and their brain ceases to function properly.  If you
do encounter "work" via email or are faced with any "work" at all, then to
purge the virus, send an email to your boss with the words "I've had enough
of your crap...  I'm off to the bar."    Your brain should automatically
forget the "work".

If you receive "work" in paper-document form, simply lift the document and
drag the "work" to your garbage can.  Put on your hat and coat and skip to
the nearest bar with two friends and order three bottles of beer  (or rum
punch). After repeating this action 14 times, you will find  that "work"
will no longer be of any relevance to you  and that "Scooby Doo" was the
greatest cartoon ever.


Wanted to make sure you guys got this information.  I also put a copy in your
box.
Bill

---------------------- Forwarded by Bill Williams III/PDX/ECT on 04/24/2001
10:29 AM ---------------------------

Jessica Burry
04/23/2001 04:18 PM
To: Donna Johnson/PDX/ECT@ECT, Chris Stokley/HOU/ECT@ECT, Mark
Guzman/PDX/ECT@ECT, Eric Linder/PDX/ECT@ECT, Bill Williams III/PDX/ECT@ECT,
Elliot Mainzer/PDX/ECT@ECT, Jeffrey Oh/PDX/ECT@ECT, Laura Wente/HOU/ECT@ECT,
Jonalan Page/PDX/ECT@ECT, Todd Perry/PDX/ECT@ECT, Andy Chen/PDX/ECT@ECT,
Angela Cadena/PDX/ECT@ECT, Jeff G Slaughter/PDX/ECT@ECT, Fredrik
Eriksson/PDX/ECT@ECT, Chris Lackey/PDX/ECT@ECT, Jesse Bryson/HOU/ECT@ECT,
Crystal Hyde/PDX/ECT@ECT, Glenn Surowiec/PDX/ECT@ECT, Michael
Etringer/HOU/ECT@ECT, Christopher F Calger/PDX/ECT@ECT, Jake
Thomas/HOU/ECT@ECT
cc: Grace Rodriguez/PDX/ECT@ECT, Mollie Gustafson/PDX/ECT@ECT, Theresa
Villeggiante/PDX/ECT@ECT, Kathryn Sheppard/PDX/ECT@ECT

Subject: Electric System Operation for the Non-Engineer Course

The Electric System Operation for the Non-Engineer course is scheduled to
take place this Friday & Saturday, April 27th & 28th from 8:30am to 4:30pm. I
have listed below a brief description of the course overview and location. I
can be reached at 464-3800 if you have any questions.

Location      Meal Schedule
2 World Trade Center      8:15-8:30am - Coffee & Bagels Served
Mezzanine Level  (Oregon Room)   12:00 - 1:00pm - Lunch Served
121 SW Salmon      3:00pm - Drink Refreshments
       Break's - Every 50 min

Overview
The two-day workshop provides you with a comprehensive understanding of
system operations including fossil fuel, hydro and nuclear generation,
transmission and distribution. The course will provide not only technical
information but also economics of operation, system and equipment protection
and safety.

Course Highlights
Generation
Transmission & Overhead
Distribution Systems
Underground Distribution
Switchgear
Voltage Control
Matching Generation

Day one     Day Two

8:15-8:30am     8:15-8:30am
Coffee & Bagels Served   Coffee & Bagels Served

8:30-4:30pm     8:30-4:30pm
Generation     Underground Distribution
Construction and operation     Padmount transformers, underground
        of steam, hydro and gas     cable, conduit and reliability overhead
         turbine generators.     versus underground.

Transmission and Overhead   Swithgear
Distribution Systems     Circuit switches, fuses and cut outs.
Power and distribution transformers.

Wye and Delta overhead    Voltage Control
distribution systems     Voltage control using noload tap changers, load
tap         changers, and voltage regulators.

Power and energy calculations  Matching Generation
       Automotive versus manual matching of
       generation to load, transmission intertie.
      Adjourn


---------------------- Forwarded by Mike Grigsby/HOU/ECT on 08/16/2000 12:03
PM ---------------------------
From: Joan Collins@EES on 08/16/2000 09:32 AM
To: Mike Grigsby/HOU/ECT@ECT
cc:
Subject: Forward Basis Info

Mike-
    Here are the locations that I need forward basis for the period Sept 00 -
Dec 01, broken out on a monthly basis if possible.  I am utilizing this info.
to project gas cost for Suiza Dairy, an EES customer.

  Locations:
Socal Border
CIG Rockey Mts
NW Sumas
EPNG San Juan
EPNG Permian

Thanks for your help!!!!
Joan


Congratulations!  You've helped make Enron one of America's elite
corporations.  We had a stunning performance in 2000, and, as a result, Enron
now ranks No. 7 on the Fortune 500, up from No. 18 last year.

The Fortune ranking is based on revenues of the nation's largest companies.
Last year, propelled by an enormous increase in volumes on EnronOnline, we
topped the $100 billion mark.  We expect to continue growing and climbing on
the Fortune 500 list.  This amazing growth is part of the reason we have
developed a new vision for Enron: to become The World,s Leading Company.
With your continued dedication and creative performance, we can realize
another year of stellar performance and will surely achieve this latest and
most compelling vision.

The Fortune 500 issue will be on newsstands April 16, however, you can read
about it now at www.fortune.com.


Debra,  Attached is the form we should use.  Review and let's discuss.


I need my force maj. language for all firm term trades in Chicago:

If you can pull the master firm, gisb firm or short term firm contract for
each of the following counterparties:

El Paso
Aquila
Duke
Utilicorp
Dynegi
Coral
Duke
TXU
Transcanada
Southern


Here are the volumes that I am looking for.  Thanks!

Shandy Spencer
(231)995-9174 phone

 <<cecomcn.xls>>

 - cecomcn.xls


Senator Bowen has canceled tomorrow's informational hearing on ESPs.


In This Edition
Banking Essentials
Investment Accounts
Managing Your Financial Accounts
Managing Your Money
Back to Basics
Taking the first steps toward financial freedom starts with the
basics. Whether you bank online, via ATM, phone, in person, or any
combination of these, becoming familiar with the accounts and
services your bank offers will make it easier to find the loans,
credit cards and even home mortgages that are right for you. By
learning what your bank has to offer, you can take advantage
of the financial products and services that best fit your
financial needs.
Banking Essentials
It's important to learn the features of even the most basic
banking products. Finding the right account is easy when you've
done the research.
Checking and Savings Accounts
Most people have checking and savings accounts, but may not know
that the types of accounts available vary widely. Everybody's
financial needs are different, and that's why it's important to
choose the account that fits the way you want to bank and enhances
your lifestyle.
? Checking Accounts. Do you keep a steady amount of money in your
checking account? Is your checking account your main financial
services account? The right checking account has it all -
convenience, flexibility and fast, easy access to your money.
Checking accounts give you the freedom to write checks against
your account balance and to have access to your money through an
ATM or online banking. And since everyone's financial needs are
different, there are a wide variety of checking accounts available,
including interest bearing or non-interest bearing, all of which
are FDIC insured. From accounts that offer you free checking with
direct deposit to low-fee student accounts to top-of-the-line
financial relationship accounts, there's a checking account
that fits your lifestyle.
? Savings Accounts. Whether you're saving for a new house or a
child's college education, the best way to achieve your financial
goals is to put money away each month. An Automatic Savings Plan
makes saving even easier by automatically moving a pre-determined
amount of money between your accounts. Savings accounts are interest-
bearing accounts with low minimum balance requirements. They are
a convenient way to save for the future and most savings accounts
can be used as overdraft protection for your checking account. Find
out more about the variety of savings accounts  available to you.
? Time Accounts (CDs)
If you're planning for a vacation or saving for the future, time
accounts , also known as certificates of deposit, are a solid choice for your
savings needs. Time accounts offer guaranteed rates of return for a fixed term,
flexibility in length of investment term and are eligible for FDIC insurance.
ATM, Check, and Credit Cards
Both ATM cards and check cards provide convenient access to your
accounts, allowing you to withdraw cash, make deposits and transfer
funds through an ATM. An ATM card  also offers you the ability to make
purchases using your Secret Code or Personal Identification Number
(PIN) at participating merchants. With a check card , you have
expanded purchasing power at merchants worldwide that accept either
Visa
 (or MasterCard
), depending on which logo is displayed on your
card. Whenever you use a check card or ATM card to make a purchase,
the purchase amount is always deducted from your checking account
and detailed on your monthly statement for easy record keeping.
Additionally, there are several types of credit cards , which give
you the convenience and financial flexibility of paying for your
purchases over time, depending on your credit limit. With all of
these choices, there is definitely a card (or cards) that is right
for you.
Investment Accounts
These days, most people have some sort of an investment account.
However, the type of investment account people choose depends on
their comfort level and goals. Whether you're new to investing,
experienced at managing your own investments, or simply want to work
with a financial consultant, there are options for you.
? Full-service brokerage. New to investing? Prefer talking to
somebody in person? An experienced financial consultant can help.
It's not always easy making investment choices on your own. Working
with a financial consultant , you get the tailored advice you need to
make informed investment decisions.
? Online brokerage. If you prefer to manage your investments on
your own, online brokerage  gives you the dynamic tools to manage your
portfolio, research the marketplace, assess your opportunities and
make the right decisions.
? Wells ShareBuilder. With Wells ShareBuilder  you can invest in
stocks and index shares in regular intervals, weekly or monthly. Over
time, you will automatically build your portfolio share by share.
With no investment minimums and low transaction fees, this
affordable technique uses dollar-cost averaging to help you
reach your long-term goals.
Managing Your Financial Accounts
? Online Banking Basics
How do you access your accounts? In a branch, at an ATM, over the
phone, or online? As many people have discovered, banking online is
the fastest, most convenient way to access all their accounts, manage
investments, transfer funds and pay bills - all with just the click
of a mouse.
? Online account access. Need to check your balance from work? Want
to make a quick transfer between accounts but don't have time to stop
at the bank or ATM? Online account access  lets you view your account
balances and transactions, transfer funds, pay bills online, and
contact customer service. It's an easy and convenient way to manage
your accounts from your computer.
? Online bill pay. With online bill pay, you can pay any individual
or company in the U.S. from the comfort of your home computer, the
office, or anywhere you have Internet access. And the money you will
save on postage can really add up. Try this demo  to see how easy
it is.
Managing Your Money
If you're like most people, you work hard and strive to achieve your
dreams. It's important to build a financial foundation to ensure you
arrive where you want to be. Here are a few tips on how you can make
smart decisions about your financial future.
Taking Control of Your Finances
It's not how much you make, but what you do with your money that
matters. Cutting out a few minor expenses can make a big difference
in your savings. There's no better way to stay out of debt than by
tracking your spending and sticking to a budget. A budget can help
you control your finances, decrease your debt, and build a strong
credit history. Where do you spend your money? Determining your cash
flow is the first step in creating a successful budget.
Building Your Credit and Controlling Debt
Managing credit can be a challenge. But a good credit rating is key
to many financial decisions. Learning how to establish and maintain
good credit  can make a big difference in your savings. Understanding
how to manage your debt can empower you to take charge of your
financial future. The quality of your life is directly linked to how
well you manage your credit and debt.
Personalize Your Communications from Wells Fargo Online

We can tailor the content of our email communications to match your
interests with information on products and services you want to know
about. Just let us know  what you're interested in and we'll send you
relevant messages that help you achieve your financial goals.
One Last Thought
Managing your money means making major financial decisions. In
addition to the tips provided in this newsletter, a wealth of
information can be found at http://www.wellsfargo.com . We'll see
you next month with more practical information for managing your
financial life.
?2001 Wells Fargo Banks. All rights reserved. Members FDIC.
Investment products offered through Wells Fargo Investments
- Not FDIC Insured - No Bank Guarantee - May Lose Value
Full-service and online brokerage accounts are available through
Wells Fargo Investments, LLC (member NYSE/SIPC), a non-bank affiliate
of Wells Fargo & Company.
Financial consultants are registered representatives of Wells
Fargo Investments.
Wells ShareBuilder is offered through ShareBuilder Securities
Corporation, member NASD/SIPC, a subsidiary of Netstock Corporation.
ShareBuilder Securities Corporation is a separate broker/dealer that
is not affiliated with Wells Fargo. Wells Fargo owns a minority
interest in Netstock Corporation, parent of ShareBuilder Securities
Corporation. Questions about and access to Wells ShareBuilder must
be directed to ShareBuilder Securities at 1-877-595-0208 between 5am
and 6pm Pacific Time, Monday through Friday.
Attention: Wells Fargo is committed to maintaining your privacy
and will not share any information provided above with
another company.
Please do not respond to this message using the "reply" button.
If you have questions about Online Banking or your own accounts
please sign on to a secure banking session at https://banking.wellsfargo.com , select the Contact Us button, and
send your message. This way we can verify that you are the owner of
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If you would like to unsubscribe from future Wells Fargo
announcements, please click on the following link: http://wellsfargo1.m0.net/m/u/wlls/tmp/w.asp?e=stacey.w.white%40enron.com


Attached is a ClickPaper approval for November 9, 2000.  Also, I will be out
of the office in a training class Thursday and Friday.  For ClickPaper credit
assistance on those days please call the Credit Hotline at 3-1803.  Thanks.

Walter


I contacted Jamie Scnorf this morning, she forgot to send the daily burn order via email yesterday. She tried to send it this morning but for some reason it was returned to her. Per Jamie there is no change to the 60,000 order,  evidently there is a problem with the internet as she has tried to send this out several times this morning and we still haven't received it. (We'll probably get them all at once)

 -----Original Message-----
From: 	Jamie_K_Schnorf@fpl.com@ENRON   On Behalf Of Jamie_K_Schnorf@fpl.com
Sent:	Friday, February 15, 2002 10:17 AM
To:	Art_R_Morris@fpl.com; Spraggins, Gary; Linhart, Joe; Michael_Jessop@fpl.com; Janzen, Randy; Ronald_Scheirer@fpl.com; TransOKnoms@enogex.com
Cc:	Forbish, Sherry; Greaney, Chris
Subject:	Lamar Nominations (Feb 15)

Holiday weekend.....

Attached is the NNG Lamar burn schedule for February 16-17, 2002.  At this
time we plan on  45,000.

Attached is the NNG Lamar burn schedule for February 18-19, 2002.  At this
time we plan on  60,000.

Thanks
(See attached file: 0202 NNG Lamar Nomination.xls)
Jamie Schnorf - FPL
561-625-7032

 - 0202 NNG Lamar Nomination.xls


Here is the copy of the GE Contract for the LM 6000's.
Ben
---------------------- Forwarded by Benjamin Rogers/HOU/ECT on 02/09/2000
03:18 PM ---------------------------
From: Kathleen Clark@ENRON_DEVELOPMENT on 02/09/2000 10:51 AM
Sent by: Kathleen Renko@ENRON_DEVELOPMENT
To: Brogers2@ect.enron.com
cc:
Subject: Draft LM6K Contract


Notice No. 01-105
March 23, 2001

TO:
ALL COMEX DIVISION MEMBERS AND MEMBER FIRMS
ALL COMEX DIVISION CLEARING FIRMS
ALL COMEX DIVISION OPERATIONS MANAGERS

FROM:
Neal Wolkoff, Executive Vice President

SUBJECT:
MARGIN RATE CHANGE FOR EUROTOP 300 FUTURES CONTRACTS

Effective Date:  Friday, March 23, 2001 (close of business)
Futures Contract: FTSE Eurotop 300 Futures
Contract Months: All Months
Rate Change:

COMEX Division Margins on FTSE Eurotop 300 Futures Contracts

Clearing Member (Maintenance Margin): Old:  $9,000  New:  $6,500
Non-Member Customer (Initial Margin): Old:  $9,000  New:  $6,500

Should you have any questions regarding these changes, please contact Arthur
McCoy at (212) 299-2928 or Joe Sanguedolce at (212) 299-2855.  This notice
supersedes all previous notices regarding outright margins for the COMEX FTSE
Eurotop 300 Futures Contract.

__________________________________________________
Please click on the link below to indicate you have received this
email.

"http://208.206.41.61/email/email_log.cfm?useremail=sara.shackleton@enron.com&
refdoc=(01-105)"

Note: If you click on the above line and nothing happens, please copy
the text between the quotes, open your internet browser,
paste it into the web site address and press Return.


Check her out.

http://www.tvguide.com/newsgossip/caught/

Jai Hawker
Peters & Co. Limited
(403) 261-2259


And I thought you were a nice guy!!  Boy was I wrong!


You may wish to quickly skim through the details below, of the Government's
decree (the final action on the Endesa/Iberdrola merger), modifying slightly
what the Competition Authority did on the case.  If you wish to skip down,
you may go to the heading "Commercialisation" (the Spanish term for
marketing/supply function).  There you will see the outlines (details to
follow) of what I described in the Staff meeting today, which is the
limitation on the merging incumbents being able to only obtain 60% of the
business of new/renewing customers, i.e., those customers must seek services
from other suppliers.  I am not aware of such a concession being extracted
anywhere else before, and this is all due to the efforts of Alfredo
Huertas.   It should bode well for businesses like Enron Direct, and toward
the development of a contracts market where others will need to trade with us
and seek our risk mangaement skills.  let me know if you need more.   mcs
---------------------- Forwarded by Mark Schroeder/LON/ECT on 05/02/2001
16:25 ---------------------------

	From:  Alfredo Huertas                           02/02/2001 17:15

To: Ignacio Soneira/MAD/ECT@ECT, Gonzalo Gomez-Navarro/MAD/ECT@ECT, Eric
Gonzales/LON/ECT@ECT, Mariano Gentilini/LON/ECT@ECT, Jose Luis
Gomez-Banovio/LON/ECT@ECT, David Gonzalez/LON/ECT@ECT, Paul Mead/LON/ECT@ECT,
Pedro Del Rio Alcalde/LON/ECT@ECT, Robert Saltiel/LON/ECT@ECT
cc: Mark Schroeder/LON/ECT@ECT, Peter Styles/LON/ECT@ECT

Subject: Spanish Govt. authorises the merger, but...

We do not know the particulars of the following press headlines (the decree
will be published on Monday). Comments below s/t the actual drafting of the
decree:

Generation

Market share of 42% of generation: We do not know if this is expressed (in MW
or MWh, etc...). Still unknown if this includes special regime generation; if
yes, the market share of ordinary regime generation may go down to 35% (we
insisted on 30%).

Divestiture by auction, as we proposed.

This share could not be increased until 2005, but no aparent limitation on
new built generation for the merged.

Particulars about the mix are still ambigous.

Transmission

Reduction on the participation on OMEL and REE to 10%

Distribution

Market share of 48% of distribution: As above, we do not know yet how this is
expressed, but Vicent was suggesting last Tuesday that a "meaningful"
criteria was going to be applied, as opposed to the "meaningless and biased"
suggested by the utilities and the CNE. We recommended 40% as compared to 66%
proposed by the utilities.

Commercialisation

Market share of 40% of new + renew contracts on the whole Spanish territory.
On the top of this, the merged company's market share cannot go beyond 60% of
new + renewed contracts on its own distribution area. Although our proposal
of applying these same limits to existing and new contracts has not gone
through (there were actually legal problems involved on that), we could claim
a great deal of "responsibility" on implementing the second boundary relative
to their own distribution area. (We actually had to convinced Sempra and
Aquila to support this initiative).

Although we do not know yet how the % is expressed (as above), it is very
important the second limitation on their own distribution territory, in order
to spur retail competition and tackle distcos' discriminatory behaviour on
access and metering issues. Recall that by 2003 all customers are eligible,
and this limitation will last until 2005.

CTCs

CTCs rights are passed to new owners, but the capital gains associated to
divestiture to offset CTCs rights of the seller. We battled for this last
piece, but not for the transferral of CTC rights to new owners. We will need
to analysed this more carefully in the decree itself.

No more securitisation! The 4.5% of the tariff, which was devoted to fund
CTCs has been eliminated. Therefore, we come back to the early days
mechanism. Implications:
  1) the CTC mechanism will be more transparent now, but still opaque
overall;
  2) Will the 1998 CTC write-off be re-established, that is, will CTCs
increase? More details on Monday

Penalties

 ?12,020 per day where the conditions above are not satisfied.

a.


it doesn't appear that you received this....
---------------------- Forwarded by Cynthia Sandherr/Corp/Enron on 03/14/2000
12:50 PM ---------------------------

"Clarke-Koonce, Pamela R." <pclarkkoonce@velaw.com> on 03/14/2000 11:37:54 AM
To: "'csandhe@enron.com'" <csandhe@enron.com>, "'anavin@enron.com'"
<anavin@enron.com>
cc: "Wenner, Adam" <awenner@velaw.com>

Subject: Transmission Legislation

 <<73084_3.DOC>>

Please see the attached per Adam Wenner:

Cynthia -- Attached is the transmission legislation we discussed.  Please
note the following:

1.  Revised Sections 201(a) and (b) are not particularly substantive; they
simply correspond the statement of FERC's jurisdiction to our new approach.
The real substance is in the amendments to Section 206.  Consequently, we
might want to exclude the Section 201 changes when we circulate it to those
to whom we're just trying to explain the concepts.

2.  Our prior draft contained exceptions to the prohibitions to the
prohibition on discriminatory treatment, regarding protection of native load
to protect system reliability and to preserve a utility's ability to comply
with state-imposed obligations to serve.  I believe these concepts,
particularly the second, is inconsistent with our new approach, but  before
deleting these, wanted to make sure that there is not a political reason
that we should leave them in.  I have italicized and bolded these
provisions.

 - 73084_3.DOC


Suzanne:
Please schedule the following meetings for either today or tomorrow:

Molly Harris - 45 minutes to talk about margin issues
Richard Sanders and Sara - 30 minutes  - to talk about arbitration issues
Rod Nelson 30 minutes - to talk about Idacorp and deutsche Bank issues (this
one I would like to do today)

Thanks.

Carol


Lucy,

Thanks for clearing up the 2/2 file.  Moving on to 2/9, here are some
questions:

#1 It looks like he just missed 1/26&2/9 of $110.  I can't tell if he still
owes $47 on his deposit.

#13 I show she missed rent on 1/26 and still owes $140.

#15 Try and follow up with Tomas about the $95.  Hopefully, he won't have a
bad reaction.

#20b Missed rent?

#26  Has she paid any deposit or rent?

#27 Missed rent?


Melissa - I just wanted to let you know that I can definitely get this list
to you today. I'm a little buried right now dealing with some IT issues we're
having with the new Full Service Power application, Forward Obligation
report, etc., etc., so it may take me a little while. Is it okay if I get
this to you by 1 p.m. PST? Let me know.

Thanks,
Kate

Melissa Ann Murphy
03/22/2001 09:33 AM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Special Request

Hi Kate,  Can you help me determine which traders in Portland are associated
with each area list below under West Power?  The EOL team needs to run some
number by trader for Louise Kitchen.

Thanks,
Melissa
---------------------- Forwarded by Melissa Ann Murphy/HOU/ECT on 03/22/2001
10:27 AM ---------------------------

From:  Matt Motsinger
    03/22/2001 10:49 AM

To: Melissa Ann Murphy/HOU/ECT@ECT
cc: Kimberly Allen/HOU/ECT@ECT, Torrey Moorer/HOU/ECT@ECT
Subject: Special Request

Melissa,

We have received a request from/for Louise Kitchen and accounting for a deal
count breakout for the following areas. Can you provide a list of traders
that would coinside with the following areas:

EAST POWER
 Southeast (ex: Smith/Sukakly)
 Midwest (Hemdon/Pagan)
 Northeast (Sturm/Baughman)
 Management Book (Presto)
 New Albany (Presto)
 Development (Jacoby)
 Structuring (Aucoin)
 Fundamentals (Will)

WEST POWER
 Origination (Calger)
 QF (Calger)
 Development (Parquet)
 Trading (Belden)
 Middle Market/Services (Foster/Wolfe)
 Fundamentals (Heisenreiker)

If you can let us know which(ALL) traders are associated with these areas,
then we should be able to create this report for EOL numbers. We appreciate
any assistance you can provide.

Thanks,

Matt Motsinger
EnronOnline PCG
713-853-5221


Kysers and Mary-

ST-WBOM is long at PV parking with PNM for HE 2 through HE 5, 20 mws each hour--for Friday and Saturday. The price of the power after the parking fee is $15.50. The deal number is 826094. This deal is just hanging out there under W-BOM and should make us 80 mws long at PV on Friday and Saturday.

Also--we are still short the two BOM pieces in SP-15 for a total of 50 mws each hour on peak-Friday and Saturday- average price of $27.60. You would have the deal numbers on this one.

Sweet.


Yes, I'll be in Death Valley hoping that the weather is as gorgeous as it is
today.  Dinner sounds great but I can't get together until after my
VACATION.  So let's shoot for after October 15.  By the way, I heard that Joe
Manascalco died.  Also, are you still interested in the LSU mineral law
institutes?  Have fun in N.O.  Sara

	"R. Carson Llewellyn" <carlew@flash.net>
	09/27/2000 03:35 PM

		 To: Sara Shackleton <Sara.Shackleton@enron.com>
		 cc:
		 Subject: Tigers

Sara:

 I found a nice restaurant in the Village that I would like to go to
with you and Donna one evening next week if you guys are up for it. I am
heading to New Orleans this weekend for some nice food and to see some
old friends. Are you going to the Tigers vs. Tennessee game Saturday
night?

Carson


Chris, I can assure you that I was not part of the "organization".  Got the
books - going throough now and I will get back to you.  Keep Avista's feet to
the fire.  speak with you soon.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 05/17/2000
11:22 AM ---------------------------

Christopher F Calger
05/17/2000 10:46 AM
To: David W Delainey/HOU/ECT@ECT
cc:
Subject: Update

Dave,

Coyote:  BPAmoco flaked so Avista is trying to move forward to take the whole
deal (some public embarrassment if they dont close since they announced it
last week).  At the same time, DLJ is bringing in some of the industry
players that originally expressed interest.  One of those parties that called
Jake is Orion, so Jake let Don Miller know this.  We will have a handle on
preliminary feedback from these parties on Friday.

Pastoria and LVCogen:  Deal books should have arrived.  Do you want to meet
on these?  who would you like to meet with?  Parquet for Pastoria and
Gilbert/Clark for LVCogen?

Pastoria DASH is being finalized along with the Catalytica DASH.  Pastoria
costs will be higher given the unwind of the Xonon swap and the fact that
turbine costs were padded by $9MM for GE's catalytica development costs
(argument for a value-grab!)

FYI I called Patrick Stevens of Triumph Energy three times...the number I
called appeared to be an office shared with other companies.  The general
number's voicemail was full so I have not reached him.

Scott Healy changed his decision and is going to work for Duran.  I dont
understand his decision but Scott said that the "organization" thought it
would be a better opportunity in Houston.

Chris


Please see the attached report distributed at the last quarterly meeting.

 If you have any questions please do not hesitate to call.

Thanks,
Ted
X-37952


Tammy,

Attached is the spreadsheet I promised with those employees who are left to be placed on the 5th floor.
I have excluded those Texas groups going to AEP and included the New Wellhead Logistics Group.

If for any reason this changes after Sally Beck has the opportunity to review it, I will advise you asap.

Also, I believe Sally may be interested in finding an office for Beth Apollo, VP close to her on the 5th floor.

Please call if you have any questions.

Thanks!
Heather Choate, x33278


congratulations?  condolences?  anyway, let's talk.  today's bad.  you in
tomorrow?