We probably need someone from operations to go with Oneok to pull this sample.  Mt. Jesus drip is at pipeline pressure, and there are safety issues with sample collecting at the site.  I could probably attend (if scheduled in advance), if you want, also an Ashland team member should probably be there.  Thanks.

From:	Charlie Graham/ENRON@enronXgate on 08/27/2001 01:39 PM
To:	Lynn Blair/ENRON@enronXgate
cc:	Dan Fancler/ENRON@enronXgate, Stephen Herber/Enron@EnronXGate, Rick Kile/ET&S/Enron@ENRON, Ronnie Brickman/ET&S/Enron@ENRON, Kenneth Cessac/ENRON@enronXgate

Subject:	FW: Mt. Jesus Condensate

Oneok has every right to sample the location themselves and should.  I feel compelled to allow them some time to do so, but also feel put upon, given they have had over a year to do so but instead have chosen to stonewall us!!!!  If you could keep the heat on (in a firm but empathetic way) that would be good.  Neubauer wants NNG/Oneok issues to be discovered, defined, and addressed (or if necessary arbitrated) quickly rather than allowing them to languish.

On another note, if Delaine has not been the problem who has been.  I would have less sympathy for whoever has been dragging their feet (probably wishing this would just go away) than I do for Delaine who seems to be just trying to get to the bottom of it.  I sense she is hitting the same stonewall (and I'll call you back run around)we have.

Charlie

-----Original Message-----
From: Blair, Lynn
Sent: Monday, August 27, 2001 12:54 PM
To: Graham, Charlie
Cc: Brickman, Ronnie; Kile, Rick; Howard, Randy; Fancler, Dan; Moseley,
Debbie; Rice, Randy; Stephens, LD; Cessac, Kenneth; Herber, Stephen;
Kowalke, Terry; Woodson, Harry
Subject: RE: Mt. Jesus Condensate

	Charlie, I agree we should get payment either way.  Gas Logistics is meeting with
	Oneok on Wednesday on some other matters.  Do you want Steve Herber or I to mention
	this again to Delaine or wait to see what their review says?  Thanks. Lynn

-----Original Message-----
From: Graham, Charlie
Sent: Monday, August 27, 2001 7:34 AM
To: Blair, Lynn
Cc: Brickman, Ronnie; Kile, Rick; Howard, Randy; Fancler, Dan; Moseley,
Debbie; Rice, Randy; Stephens, LD; Cessac, Kenneth; Herber, Stephen
Subject: FW: Mt. Jesus Condensate

Lynn,

Thanks for your help getting this pushed along.  Shouldn't we take the approach that payment to Northern is expected immediately once Oneok verifies the liquid is condensate.  Whether they ever reach agreement with their hauler or not is not germane to paying us.  We have been pressing Oneok about Mt. Jesus since April of 2000 and provided them with a sample analysis (taken by us) September 30, 2000!  You can see by the trail of e-mails below, they seem to brush us off about once a month.

Thanks

Charlie

-----Original Message-----
From: Kurth, Delaine [mailto:dkurth@Oneok.com]
Sent: Monday, August 27, 2001 6:43 AM
To: Graham, Charlie
Cc: 'ronnie.brinkman@enron.com'
Subject: RE: Mt. Jesus Condensate

Charlie,  I talked with Mike Belcher and Jon Hanna about this on Friday for
an update.  We have hired a consultant to go out there this week, CP
Resources.  They will evaluate the situation at Mt. Jesus and at Sublette.
If determined that the liquids do have condensate in them, we will pursue
retroactive settlement with the current hauler.  Hopefully we will bring
this to a close very soon.  Thanks for patience.  Delaine

-----Original Message-----
From: Charlie.Graham@enron.com [mailto:Charlie.Graham@enron.com]
Sent: Wednesday, July 18, 2001 9:01 AM
To: dkurth@Oneok.com
Cc: Rick.Kile@enron.com; Debbie.Moseley@enron.com
Subject: RE: Mt. Jesus Condensate

Hi Delaine.  It has been a while so thought I would check on your review of
our request for payment for Mt. Jesus mmbtu.  Do you need anything more
from NNG?

Charlie
 -----Original Message-----
From:     "Kurth, Delaine" <dkurth@Oneok.com>@ENRON

[mailto:IMCEANOTES-+22Kurth+2C+20Delaine+22+20+3Cdkurth+40Oneok+2Ecom+3E+40E
NRON@ENRON.com]

Sent:     Tuesday, June 19, 2001 2:58 PM
To:       Graham, Charlie
Subject:  RE: Mt. Jesus Condensate

Charlie, I will reivew the information and get back to you as soon as
possible.  Thanks, Delaine

-----Original Message-----
From: Graham, Charlie [mailto:Charlie.Graham@ENRON.com]
Sent: Tuesday, June 19, 2001 2:42 PM
To: Delaine Kurth (E-mail)
Subject: Mt. Jesus Condensate

Delaine,

The Operating Agreement between Northern and KN (now Oneok) entitles
Oneok to all condensate and drip liquids removed from any of the
Northern pipelines, equipment or facilities upstream of Oneok's Bushton
Plant.  That agreement also provides that Oneok will be responsible for
picking-up, hauling and providing a detailed accounting of such liquids
removed.  In addition Oneok is to pay Northern for the shrinkage
attributable to such condensate and drip.  Northern invoices Oneok
monthly for a cash reimbursement of the mmbtu's attributable to the
condensate removed.

Effective April 2000, Oneok began short paying its invoices.  The table
below summarizes the amount shorted through April 2001 as $67, 889.36.
This short payment reflects Oneok's refusal to reimburse Northern for
removal of condensate attributable to the Mount Jesus Drip, lease #
71176.  Oneok has indicated to Northern that Oneok's contract hauler
contends the liquid removed from Northern's system at this point is
water.  In spite of evidence provided by Northern to the contrary, Oneok
accepts its contractor's contention, apparently pays a disposal fee, and
refuses to reimburse Northern for the mmbtu's lost.

This location produced condensate prior to the March 31, 1997 agreement
and no change to Northern's pipeline operations that would impact
condensation dropout has occurred.  Oneok was properly reimbursing
Northern prior to April 2000.  In addition, the attached analysis of
liquid removed from the location on September 20, 2000, demonstrates
that hydrocarbon condensate continues to be collected at the drip.
Northern must insist that compensation for these BTU's removed from
Northern's System be made by Oneok.  Your immediate attention to this
matter is appreciated.

Thanks

Charlie
(402) 398-7061

Northern Natural Gas Company

Shortpay Analysis

Mt. Jesus Drip

                              (BBLS * 42)
(GAL * .116)
Date      Rate      BBLS      Gallons         Mmbtu
Amount
Apr-01          $ 4.9474           345.00             14,490.00
1,680.84        $  8,315.80
Mar-01          $ 4.9851           180.00               7,560.00
876.96          $  4,371.76
Feb-01          $ 5.5555           200.00               8,400.00
974.40          $  5,412.96
Jan-01          $ 8.0133           180.00               7,560.00
876.96          $  7,027.33
Dec-00          $ 8.7182           240.00             10,080.00
1,169.28        $10,194.02
Nov-00          $ 5.2090           205.00               8,610.00
998.76          $  5,202.54
Oct-00          $ 4.8727           140.00               5,880.00
682.08          $  3,323.57
Sep-00          $ 4.8503           240.00             10,080.00
1,169.28        $  5,671.36
Aug-00          $ 4.2166           140.00               5,880.00
682.08          $  2,876.06
Jul-00          $ 3.8249           140.00               5,880.00
682.08          $  2,608.89
Jun-00          $ 4.0792           380.00             15,960.00
1,851.36        $  7,552.07
May-00          $ 3.2884           160.00               6,720.00
779.52          $  2,563.37
Apr-00          $ 2.8424           200.00               8,400.00
974.40          $  2,769.63

                    2,750.00        115,500.00
13,398.00            $67,889.36

 <<analysis.doc>>


Yep, we had a nice time.  I tried calling you about 4:00 yesterday, but there
was no answer, so I figured you didn't want to go.

	"Patti Young" <pyoung@cliverunnells.com>
	12/11/2000 10:53 AM

		 To: <Tana.Jones@enron.com>
		 cc:
		 Subject: RE: Friday Evening

Hey, I totally forgot about last night (Sunday).  I was having my car washed
about the time I should have been thinking about getting ready.  Please
forgive me for I know it would have been a nice "do" to attend.  Did
Michelle and you have a nice time?

Thanks for going with me on Friday night.

Talk to you soon.

 Patti

-----Original Message-----
From: Tana.Jones@enron.com [mailto:Tana.Jones@enron.com]
Sent: Friday, December 08, 2000 3:29 PM
To: pyoung@cliverunnells.com
Subject: RE: Friday Evening

Are you there.  I tried calling and no one picked up.  I'm ready to go...

                    "Patti Young"
                    <pyoung@cliverun        To:     <Tana.Jones@enron.com>
                    nells.com>              cc:
                                            Subject:     RE: Friday Evening
                    12/08/2000 05:03
                    PM

O.K.

-----Original Message-----
From: Tana.Jones@enron.com [mailto:Tana.Jones@enron.com]
Sent: Friday, December 08, 2000 12:40 PM
To: pyoung@cliverunnells.com
Subject: Re: Friday Evening

So far, I can probably leave on time today, which would be about 5:30 pm.
Let's just check again as the end of the day gets closer.  I think it would
be a good idea to meet there, since we're coming from opposite directions.
Dinner sounds good to me....

                    "Patti Young"
                    <pyoung@cliverun        To:     "Tana Jones"
<tana.jones@enron.com>
                    nells.com>              cc:
                                            Subject:     Friday Evening
                    12/08/2000 04:32
                    PM

Tana,

If you are still interested in doing the Williams Collection do, what would
be a good time for you to go.  We can meet there and then go to dinner.
Or,
you could come by my place and get a look again and help me pick out the
right furniture.  Whatever is convenient for you, please let me know.


2/15/00

Please plan to attend the following meeting

Topic:  Cilco
Date:   Tuesday, February 15, 2000
Time:  3:00-4:00pm
Location: EB37C1

If you have any questions, please contact me or Howard Camp x3-7649


This really is awesome - so had to share with everyone.
srm

---------------------- Forwarded by Sandra R McNichols/HOU/ECT on 02/28/2000
09:05 AM ---------------------------

	Lisa Berg
	02/28/2000 09:00 AM

To: Christy Sweeney/HOU/ECT@ECT, Rebecca Cowart/HOU/ECT@ECT, Willie
Harrell/HOU/ECT@ECT, Sandra R McNichols/HOU/ECT@ECT,
John.Carver@AGNA.Zeneca.com
cc:
Subject: Fwd: FW: Read the story before you look at picture

THIS IS ABSOLUTELY AWESOME !!! WE SERVE THE MOST WONDERFUL GOD !!!!

Subject: Read the story before you look at picture

Appreciating Life!!!

First read and then see the picture  The picture appeared in the November
16
edition of "The National Enquirer." It should be "The Picture of the Year,"
or perhaps, "The Picture of the Decade."  The picture is that of a
21-week-old unborn baby named Samuel Alexander Armas, who is being operated
on by a surgeon named Joseph Bruner. The baby was diagnosed with spina
bifida and would not survive if removed from the mother's womb. Little
Samuel's mother, Julie Armas, is an obstetrics nurse in Atlanta. She knew of

Dr. Bruner's remarkable surgical procedure.

Practicing at Vanderbilt University Medical Center in Nashville, he performs

these special operations while the baby is still in the womb. In the
procedure, a C-section removes the uterus and the doctor makes a small
incision to operate on the baby. During the surgery on little Samuel, the
little guy reached his tiny, but fully developed, hand through the incision
and firmly grasped the surgeon's finger. The photograph captures this
amazing event with perfect clarity.

The editors titled the picture, "Hand of Hope." The text explaining the
picture begins, "The tiny hand of 21-week-old fetus Samuel Alexander Armas
emerges from the mother's uterus to grasp the finger of Dr. Joseph Bruner as

if thanking the doctor for the gift of life." That picture is graphic
reminder that growing in the womb of his or her mother is a baby. It is not
a "glob of tissue," or "product of conception." That pre-born baby is a
human being with all the emotions, will and personality of any human being.
That picture says it in a way that a thousand words cannot. Little Samuel's
mother said they "wept for days" when they saw the picture. She said, "The
photo reminds us my pregnancy isn't about disability or illness, it's about
a little person." That's what it's always been about.

<<amazinghand.jpg

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

 - amazinghand.jpg


All

A reminder that you are scheduled to interview for the Trading Track Thursday,  November 1st, from 2.00 pm onwards.   Resumes and schedules will be forwarded to you shortly.

Regards,

Karen Buckley


Is anyone interested in playing tennis this weekend?  Maybe Saturday at
Memorial Park at 10:00am?  Hopefully, we can get a couple of courts.

Cindy Madi
wk:  713-952-8022
hm:  713-956-1356


CALENDAR ENTRY:	APPOINTMENT

Description:
	 Staff Mtg. Conference room EB4102

Date:		11/12/2001
Time:		10:30 AM - 1:00 PM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


Mark,

Did you have a chance to review the E&P company model
(the old cash flow mode) and determine if it can be used
by Fred Lagrasta' group.

Please, let me know.

Vince


Attached is the Enron Americas Gas Trading violation memo for VaR, Maturity
Gap Risk, and Net Open Position for May 18, 2001.  The Office of the Chairman
for Enron Americas is responsible for printing out a hard copy of this memo,
signing it and returning the hard copy to Chris Abel who will forward it to
RAC to obtain their signature.

Thank You


----- Forwarded by Jeff Dasovich/NA/Enron on 02/14/2001 11:15 AM -----

	Scott Govenar <sgovenar@govadv.com>
	02/14/2001 06:36 AM

		 To: Hedy Govenar <hgovenar@govadv.com>, Mike Day <MDay@GMSSR.com>, Bev
Hansen <bhansen@lhom.com>, Jeff Dasovich <jdasovic@enron.com>, Susan J Mara
<smara@enron.com>, Joseph Alamo <JAlamo@enron.com>, Paul Kaufman
<paul.kaufman@enron.com>, Michael McDonald <Michael.McDonald@enron.com>,
David Parquet <David.Parquet@enron.com>, Rick Johnson
<rick.johnson@enron.com>, Marcie Milner <mmilner@enron.com>, Sandra McCubbin
<Sandra.McCubbin@enron.com>, Tim Belden <Tim.Belden@enron.com>, Rick Shapiro
<rshapiro@enron.com>, Jim Steffes <james.d.steffes@enron.com>, Alan Comnes
<acomnes@enron.com>, Chris Calger <ccalger@enron.com>, Mary Hain
<mary.hain@enron.com>, Joe Hartsoe <Joe.Hartsoe@enron.com>, Donna Fulton
<Donna.Fulton@enron.com>, Steven Kean <Steven.J.Kean@enron.com>, Karen Denne
<kdenne@enron.com>, Beverly Aden <beverly.aden@enron.com>, Bill Votaw
<bill.votaw@enron.com>, Carol Moffett <carol.moffett@enron.com>, Debora
Whitehead <debora.whitehead@enron.com>, Dennis Benevides
<dennis.benevides@enron.com>, Don Black <don.black@enron.com>, Dorothy
Youngblood <dorothy.youngblood@enron.com>, "dblack@enron.com"
<dblack@enron.com>, "emelvin@enron.com" <emelvin@enron.com>,
"ehughes2@enron.com" <ehughes2@enron.com>, "gweiss@enron.com"
<gweiss@enron.com>, "gsavage@enron.com" <gsavage@enron.com>,
"Harry.Kingerski@enron.com" <Harry.Kingerski@enron.com>, "kgustafs@enron.com"
<kgustafs@enron.com>, Mike D Smith <msmith1@enron.com>, "ryang@enron.com"
<ryang@enron.com>, "sgahn@enron.com" <sgahn@enron.com>, "vsharp@enron.com"
<vsharp@enron.com>, "wcurry@enron.com" <wcurry@enron.com>,
"William.S.Bradford@enron.com" <William.S.Bradford@enron.com>
		 cc:
		 Subject: Amended Legislation

Attached, please find the amended version of SBX 6.  We have the amended
version of SBX 33 in hard copy only.  Please let us know if you would
like it faxed to you.  The amended version of SBX 5 won't be available
until tomorrow.

http://info.sen.ca.gov/pub/bill/sen/sb_0001-0050/sbx1_6_bill_20010213_amended_
sen.pdf


Sent on behalf of Bruce McMills:

For 2/17, the nom into Eastrans is 40,000 MMBtu, which is 37,313 Mcf @ 1072
btu.
Please increase nom into PG & E to 33,000 MMBtu.  7,000 will come from
Fuels Cotton Valley, and sale of 500 MMBtu//d remains in place.

If there are any problems please contact Chad Cass at 713-627-6202.

Thanks


SK - I've printed this out & put it in your meeting folder.  mm

Steve, I attach a briefing paper for your visit. A hard copy will be
available for you on arrival. The paper includes the following:
Itinerary
Conference details
Brattle paper summary
Media interview background
General key messages
Electricity wholesaling reactive statement
Political update
Meeting briefing notes

You will note one further change to the itinerary. We will be meeting with
METI rather than the Fair Trade Commission. The purpose of the METI meeting
will be to explain our concerns with the current regulatory environment and
Enron Japan's proposal to temporarily suspend its electricity wholesaling
activities. We met with our METI working level contacts today to brief them
on Brattle and in particular the shortcomings of the current system. We did
not discuss suspension of our wholesaling activities. The meeting briefing
notes will be available on your arrival in Tokyo.

I also attach the latest version of the Brattle paper and, for completeness,
the final version of the presentation and notes.

I will call you at the Palace Hotel on Monday at 6pm. If you have any hiccups
with arrangements please let me know. My contact numbers are as follows:

Home 813 52610539
Mobile 8190 27334795
Office 813 5219 4583

I think we have stirred things up enough here in the last couple of days to
make for an interesting visit for you. I look forward to seeing you on Monday.

kind regards


We have learned that the Brazilian Central Bank has posted on its website
for public comment by
16th November its proposed credit derivatives guidelines.

The address of the relevant page is on the Portuguese part of the site at
http://www.bcb.gov.br/mPag.asp?cod=106&Perfil=1&codP=0 To my knowledge,
an English version of the proposals is not available.

The relevant text was sent to me and is copied directly below as well
although the formatting may be corrupted
in transmission.

PLEASE ADVISE BY THURSDAY MORNING NOVEMBER 8 WHETHER ISDA SHOULD CONSIDER
PROVIDING AN INDUSTRY COMMENT.
AS THE TIME PERIOD IS SO SHORT, WE MUST MAKE A DECISION WHETHER TO COMMENT
OR NOT THIS WEEK.

Kind regards
Ruth Ainslie

****************************************************************************
******

Edital de Audi?ncia P?blica N? 014/2001
A Diretoria Colegiada do Banco Central do Brasil decidiu colocar em
audi?ncia p?blica minutas de resolu??o e de circular dispondo sobre a
realiza??o, no mercado de balc?o, de opera??es de derivativos de cr?dito,
referenciadas em riscos oriundos de opera??es de empr?stimo, financiamento e
de arrendamento mercantil, por parte das institui??es que especifica.
2.	Os interessados poder?o encaminhar, at? o dia 16 de novembro de
2001, sugest?es e coment?rios, por meio de correspond?ncia dirigida ao
Departamento de Normas do Sistema Financeiro (Denor), SBS, Quadra 3, Bloco
"B", 15? andar, Edif?cio Sede, Bras?lia (DF), CEP 70074-900, ou pelo e-mail
denor@bcb.gov.br <mailto:denor@bcb.gov.br>.
3.	A partir da data de publica??o deste edital, c?pia das minutas de
resolu??o e de circular estar?o dispon?veis no "site" do Banco Central do
Brasil (www.bcb.gov.br) ou, de 10:00 ?s 17:00 horas, nas centrais de
atendimento ao p?blico nos seguintes endere?os:
Boulevard Castilhos Franca, n? 708, Centro, em Bel?m (PA);
Av. ?lvares Cabral, n? 1.605, Santo Agostinho, em Belo
Horizonte (MG);
Rua Carlos Pioli, n? 133, Bom Retiro, em Curitiba (PR);
Av. Her?clito Gra?a, n? 273, Centro, em Fortaleza (CE);
Rua 7 de setembro, n? 586, Centro, em Porto Alegre (RS);
Rua da Aurora, n? 1.259, Santo Amaro, em Recife (PE);
Av. Presidente Vargas, n? 730, Centro, no Rio de Janeiro
(RJ);
Av. Garibaldi, n? 1.211, Ondina, em Salvador (BA);
Av. Paulista, n? 1.804, Bela Vista, em S?o Paulo (SP).
Bras?lia, 18 de outubro de 2001.
S?rgio Darcy da Silva Alves
Diretor

RESOLU??O
Autoriza a realiza??o, no mercado de balc?o,
de opera??es de derivativos de cr?dito, referenciadas em riscos oriundos de
opera??es de empr?stimo, financiamento e de arrendamento mercantil, por
parte das institui??es que especifica.
O BANCO CENTRAL DO BRASIL, na forma do art. 9? da Lei 4.595, de 31
de dezembro de 1964, torna p?blico que o CONSELHO MONET?RIO NACIONAL, em
sess?o realizada em de
de 2001, tendo em vista o disposto no art. 4?, incisos VI e VIII, da
referida lei, no art. 23 da Lei 6.099, de 12 de setembro de 1974, com a
reda??o dada pela Lei 7.132, de 26 de outubro de 1983, na Lei 9.514, de 20
de novembro de 1997 e no art. 4? da Lei 10.192, de 14 de fevereiro de 2001,
R E S O L V E U:
Art. 1? Facultar ?s institui??es financeiras e demais institui??es
autorizadas a funcionar pelo Banco Central do Brasil a realiza??o de
opera??es de derivativos de cr?dito, nas modalidades, formas e condi??es a
serem por ele estabelecidas.
? 1? Somente podem atuar na qualidade de contraparte receptora do
risco de cr?dito os bancos m?ltiplos, a Caixa Econ?mica Federal, os bancos
comerciais, os bancos de investimento, as sociedades de cr?dito,
financiamento e investimento, as sociedades de cr?dito imobili?rio e as
sociedades de arrendamento mercantil.
? 2? As sociedades de arrendamento mercantil somente podem atuar na forma do
disposto no par?grafo anterior quando o ativo subjacente referir-se a
cr?ditos oriundos de opera??es de arrendamento mercantil.
? 3? Para efeito do disposto nesta resolu??o, consideram-se:
I - derivativos de cr?dito: contratos onde as partes transferem
entre si, no ato da contrata??o, o risco de cr?dito de uma ou mais
opera??es, sem implicar, nesse momento, a transfer?ncia do ativo subjacente
que o originou;
II - ativo subjacente: cr?dito decorrente de opera??es de empr?stimo,
financiamento ou de arrendamento mercantil realizadas no mercado dom?stico.
Art. 2? O risco de cr?dito do ativo subjacente deve, necessariamente, ser
detido pela contraparte transferidora do risco no momento da contrata??o.
? 1? A contraparte transferidora do risco de cr?dito deve manter registros ?
disposi??o do Banco Central do Brasil que atestem a exist?ncia do risco do
ativo subjacente quando da contrata??o do derivativo de cr?dito.
? 2? O montante da transfer?ncia de risco est? limitado ao valor do ativo
subjacente.
? 3? ? vedada a cess?o, aliena??o ou transfer?ncia, direta ou indireta, a
qualquer t?tulo, do ativo subjacente, durante o prazo de vig?ncia do
contrato de derivativo de cr?dito a ele referenciado.
Art. 3? A pr?tica das opera??es de que trata esta resolu??o fica
condicionada ? indica??o, por parte das institui??es referidas no art. 1?,
de administrador tecnicamente qualificado, respons?vel pelas mesmas perante
o Banco Central do Brasil.
Art. 4? Estabelecer a obrigatoriedade de registro das opera??es de
que trata esta resolu??o por entidades devidamente autorizadas pelo Banco
Central do Brasil ? pr?tica de tal atividade e que atendam ?s necessidades
de fiscaliza??o e controle por parte dessa Autarquia.
Art. 5? Fica o Banco Central do Brasil autorizado a adotar as medidas e a
baixar as normas complementares que se fizerem necess?rias ? execu??o do
disposto nesta resolu??o.
Art. 6? Esta resolu??o entra em vigor na data de sua publica??o.
Bras?lia, ...... de ................ de 2001.
Arminio Fraga Neto
Presidente

CIRCULAR
Disp?e sobre a realiza??o, no mercado de
balc?o, de opera??es de derivativos de cr?dito, referenciadas em riscos
oriundos de opera??es de empr?stimo, financiamento e de arrendamento
mercantil, de que trata a Resolu??o de de 2001.
A Diretoria Colegiada do Banco Central do Brasil, em sess?o
realizada em de de 2001, com base no disposto no art. 2?, ? 2? do
Regulamento Anexo IV ? Resolu??o 2.099, de 17 de agosto de 1994, com as
modifica??es introduzidas pelas Resolu??es 2.692, de 24 de fevereiro de
2000, e 2.891, de 26 de setembro de 2001, e no art. 1? da Resolu??o , de de
de 2001,
D E C I D I U:
Art. 1? Estabelecer as seguintes modalidades de derivativo de
cr?dito pass?veis de realiza??o por parte das institui??es referidas no art.
1? da Resolu??o , de de de 2001:
I - swap de cr?dito, quando a contraparte receptora do risco for remunerada
com base em taxa de prote??o;
II - swap de taxa de retorno total, quando a contraparte receptora
do risco for remunerada com base no fluxo de recebimento de encargos
vinculados ao ativo subjacente, de que trata o art. 1?, par?grafo ?nico,
inciso II, da Resolu??o , de 2001.
Par?grafo ?nico. Fica vedada:
I - a realiza??o de opera??es de op??es vinculadas a essas
modalidades; e
II - a realiza??o de opera??es de derivativos de cr?dito entre
pessoas f?sicas ou jur?dicas controladoras, coligadas ou controladas,
incluindo as empresas referidas no art. 3? da Resolu??o 2.723, de 31 de maio
de 2000, com a reda??o dada pela Resolu??o 2.743, de 28 de junho de 2000.
Art. 2? Para efeito do disposto nesta circular, s?o definidos como:
I - opera??es de swap: aquelas realizadas entre a contraparte
transferidora e a contraparte receptora do risco de cr?dito para liquida??o
em data futura, que impliquem, na ocorr?ncia de um ou mais eventos de
deteriora??o da qualidade do cr?dito, na recomposi??o, total ou parcial, do
valor do ativo subjacente pela contraparte receptora em favor da contraparte
transferidora do risco;
II - eventos de deteriora??o da qualidade de cr?dito (eventos de cr?dito):
aqueles fatos que, independentemente da sua motiva??o, caracterizem-se por:
a)	decreta??o de fal?ncia dos obrigados do ativo subjacente;
b)	pedido de concordata preventiva dos obrigados do ativo
subjacente;
c)	liquida??o extrajudicial pelo Banco Central do Brasil dos
obrigados do ativo subjacente;
d)	reestrutura??o de passivos dos obrigados, quando essa representar
perda
no valor ou deteriora??o da qualidade do cr?dito do ativo subjacente;
e)	mudan?a de controle, fus?o ou incorpora??o dos obrigados, quando
representar perda no valor ou deteriora??o da qualidade do cr?dito do ativo
subjacente;
f)	morat?ria dos obrigados do ativo subjacente;
g)	inadimplemento do ativo subjacente;
h)	antecipa??o compuls?ria do pagamento do ativo subjacente, na
hip?tese de previs?o contratual;
i)	rep?dio ou questionamento judicial do ativo subjacente;
Art. 3? As opera??es realizadas pela contraparte transferidora do
risco nos termos desta circular devem ser consideradas no c?mputo do
Patrim?nio L?quido Exigido (PLE), de que trata a Resolu??o 2.099, de 17 de
agosto de 1994, e altera??es posteriores, em fun??o do grau de transfer?ncia
do risco de cr?dito do ativo subjacente.
? 1? Para efeito do disposto neste artigo, considera-se efetiva a
transfer?ncia do risco de cr?dito do ativo subjacente, com a poss?vel
redu??o do fator de pondera??o a ele aplic?vel, quando:
I - o contrato estabelecer como eventos de cr?dito, no m?nimo, a ocorr?ncia
individual ou conjunta das situa??es previstas no art. 2?, inciso II;
II - o ativo subjacente for legalmente pass?vel de transfer?ncia, nos casos
em que o contrato de derivativo de cr?dito assim o preveja na ocorr?ncia do
evento de cr?dito;
III - a contraparte transferidora do risco n?o retiver risco de cr?dito sob
qualquer forma;
IV - n?o houver cl?usula que possibilite o cancelamento unilateral
do contrato pela contraparte receptora do risco de cr?dito, exceto na
hip?tese do n?o pagamento pela contraparte transferidora da remunera??o
estabelecida no art. 1?, incisos I e II;
V - n?o houver cl?usula que possibilite, ? contraparte receptora do
risco de cr?dito, o n?o cumprimento da obriga??o de efetuar prontamente o
pagamento do montante devido ? contraparte transferidora na ocorr?ncia do
evento de cr?dito.
? 2? O fator de pondera??o, em valor percentual, a ser aplicado ao montante
de prote??o do ativo subjacente para fins de apura??o do PLE deve ser obtido
com base na seguinte f?rmula:
FP = (1 - F) x (PRP x 50)/PRA + [1- (PRP/PRA)] x FPA + F x FPA, onde:
FP = fator de pondera??o aplic?vel ao montante de prote??o do ativo
subjacente;
PRA = prazo remanescente do ativo subjacente (em dias ?teis);
PRP = prazo remanescente do derivativo de cr?dito (em dias ?teis);
FPA = Fator de pondera??o, em valor percentual, relativo ao ativo
subjacente, conforme a Tabela de Classifica??o dos Ativos de que trata o
art. 2?, ? 1?, do Regulamento Anexo IV ? Resolu??o 2.099, de 1994, e
altera??es posteriores;
F = "zero" nas hip?teses do derivativo de cr?dito ser contratado na mesma
moeda que o ativo subjacente;
F = 0,50 (cinq?enta cent?simos) nas hip?teses do derivativo de cr?dito ser
contratado em outra moeda que n?o a do ativo subjacente.
? 3? A exposi??o ao risco do ativo subjacente que exceder o montante
de prote??o deve ser ponderada pelo seu fator original conforme a Tabela de
Classifica??o dos Ativos de que trata o art. 2?, ? 1?, do Regulamento Anexo
IV ? Resolu??o 2.099, de 1994, e altera??es posteriores.
? 4? Na hip?tese em que estipulada cl?usula relativa a valores ou
percentuais m?nimos de perda do ativo subjacente para que a recomposi??o,
total ou parcial, seja efetuada, deve ser comprovada parcela adicional de
PLE equivalente ao valor ou percentual m?nimo estipulado.
Art. 4? A contraparte receptora do risco fica exposta ao risco de cr?dito do
ativo subjacente na propor??o do risco assumido.
Par?grafo ?nico. Na hip?tese de a contraparte receptora do risco
garantir o contrato de derivativo de cr?dito com a utiliza??o de recursos em
esp?cie ou de t?tulos de emiss?o de terceiros, a exposi??o ao risco
decorrente deve ser ponderada pelo maior fator de pondera??o entre aquele
aplic?vel ao ativo subjacente ao contrato de derivativo de cr?dito e aquele
aplic?vel ? contraparte transferidora do risco.
Art. 5? ? obrigat?ria a divulga??o, em notas explicativas ?s demonstra??es
financeiras, de informa??es contendo, pelo menos, os seguintes aspectos
relativos ?s opera??es de derivativos de cr?dito:
I - pol?tica, objetivos e estrat?gias da institui??o;
II - processo de gerenciamento de riscos;
III - volumes de risco de cr?dito transferidos (valor cont?bil e de
mercado), total e no per?odo;
IV - receitas e/ou despesas no per?odo;
V - efeito (aumento/redu??o) no c?lculo do PLE;
VI - montante e caracter?sticas das opera??es de cr?ditos
transferidas ou recebidas no per?odo em decorr?ncia dos fatos geradores
previstos no contrato;
VII - segrega??o por tipo (swap de cr?dito e swap de taxa de retorno total).
Art. 6? O Banco Central do Brasil poder? determinar o aumento do PLE, com
base em caracter?sticas intr?nsecas ao contrato.
Art. 7? As institui??es devem manter, ? disposi??o do Banco Central
do Brasil, adequadamente documentadas, sua pol?tica e procedimentos para
realiza??o de opera??es de derivativos de cr?dito, bem como os limites de
exposi??o estabelecidos, independentemente da condi??o de receptora ou
transferidora do risco.
Art. 8? Fica condicionada ? autoriza??o do Banco Central do Brasil a
celebra??o de contrato de derivativo de cr?dito cujo montante seja igual ou
superior a 10% (dez por cento) valor do Patrim?nio de Refer?ncia (PR) da
institui??o que atuar como contraparte transferidora do risco.
Art. 9? A institui??o deve informar ao Departamento de Cadastro e
Informa??es do Sistema financeiro (Decad) o nome do diretor respons?vel pela
pr?tica de opera??es de derivativos de cr?dito, nos termos do art. 3? da
Resolu??o de de 2001.
Art. 10. Esta circular entra em vigor na data de sua publica??o.
Bras?lia, .... de ........... de 2001.
S?rgio Darcy da Silva Alves
Diretor


Dear Energy Supply/Power Marketing Executive:

This Alliance Info Alert provides 1)  a summary of FERC's 5/30/01 meeting, and 2)  a listing of recent filings at FERC.

FERC Meeting Summary:

At Wednesday's Commission meeting, FERC denied, without discussion, rehearing requests of its March 14 , 2001 order provisionally approving the GridSouth RTO, and in a last-minute change, removed several RTO proceedings from scheduled consideration, including PJM, PJM West, ISO-NE, NYISO, and GridFlorida.

In other RTO developments, Chairman Hebert announced that FERC will convene a technical conference on Function 8 - Interregional Coordination issues, as initially requested by the Electric Power Supply Association, among others.  Hebert hopes to hold the conference in either June or July 2001.

In other notable action, marked by Comm. Massey's strong dissent on the issue of appropriate analytic method for evaluating market-based rate (MBR) applications, FERC accepted Sierra Southwest Cooperative Services* (Sierra) request for MBR authority using the current hub and spoke method for which to evaluate market power concerns.  In a related proceeding, FERC denied a request from the Illinois Commerce Commission (ICC) requesting that Exelon be directed to abandon the use of the hub and spoke method and commit to using another method in the 2003 year.

Commission Discussion
Market Power Analysis
Commissioner discussion centered around MBR authority and the method used to perform market power analysis.  The issues were raised within the context of two MBR cases approved yesterday involving Sierra and Exelon, over Commissioner Massey's objections, as noted below.

Comm. Massey dissented from both orders expressing his dismay with the majority*s decision to continue the use of what he called *old-fashioned hub and spoke analysis,* saying that the method  *does not produce meaningful conclusions.*   While Massey allowed that *it may be premature to decide" on a particular analytic method for use in 2003, he argued that the current analysis is outdated.  Massey stated that the 20% hub and spoke market share threshold is "too simplistic."  In Massey's view, the hub and spoke method makes assumptions about the market that ignore important factors, producing unreliable results that do not protect ratepayers from unjust and unreasonable rates.  Massey was concerned that fears about high rates resulting from MBRs have been inadequately analyzed by FERC is leading to a slowdown in state restructurings.  Massey asserted that states are now delaying plans and others will not implement reforms as a result.

Massey expressed his desire for to conduct a generic inquiry into improving current standards for performing market power analysis.  He identified three focuses for such a proceeding:

(1)   look at market concentration, i.e. scope of trade, supply concentration in varying load periods, explore use of computer modeling and simulation;
(2)   evaluate whether market rules create perverse incentives and encourage gaming of the system; and
(3)   ensure that adequate demand responsiveness exists to aid in putting a check on market power.

In addition, Massey recommended that instances of price spikes and price abnormalities be investigated for identifying possible sources of volatility.
I
 n these cases, Comm. Breathitt pointed out that the generator dominance analysis performed concluded that the market share percentages for the applicants in the two orders are well below the market abuse and dominance levels.  In fact, they are only 1.82% and 1.95%, respectively.  Breathitt assured the ICC that it will have the opportunity to participate in the process in 2003, no matter what market power analysis is being used.
While supporting the two orders on market based rate authority, Chairman Hebert pointed out that no party objected to Sierra*s receiving market based rate authority, nor did any party request that FERC deny the Exelon application.  Hebert clarified that the Exelon order does not pick one method over the other, but rather declines to commit to a particular method of market power analysis at this time.

RTO Seams Conference
Announcing FERC's intention to schedule a technical conference on RTO seams issues, Chairman Hebert stressed that seams issues are *absolutely crucial to the RTO process.*   Although a specific date has yet to be chosen, Hebert stated that his hope is that it be held *sooner rather than later*.  Hebert also invited parties to submit comments on proposed dates for the technical conference.  Both Massey and Breathitt voiced strong support for the Chairman's decision to hold such a technical conference.

Other Notable Action
GridSouth -
FERC denied the multiple requests for rehearing of its March 14, 2001 order provisionally approving the GridSouth RTO. RT01-74-001.  Issued May 30, 2001.

PJM Interconnection -
FERC denied rehearing and provided clarification of its March 14, 2001 Order establishing that the netting of station power is a wholesale function and thus FERC jurisdictional.  FERC agreed with New York State Electric and Gas and other utilities that third party sales of station power is a sale for end-use and should remain state jurisdictional.  However, FERC denied requests to clarify whether generators owned by the same company may use station power from one another without the exchange being classified as a third party sale, rather than as self-supply. ER00-3513-002; EL99-86-001; EL00-113-001.  Issued May 30, 2001.

                               == RECENT FERC FILINGS ==

(1)  RTO DEVELOPMENTS

*  GRIDFLORIDA, pursuant to the Commission's March 28, 2001 Order provisionally granting GRIDFLORIDA RTO Status, submitted its RTO compliance filing.  RT01-67-003.  Filed May 29, 2001.

*  SPP, pursuant to the Commission's March 28, 2001 Order, submitted its RTO compliance filing.  RT01-34-003.  Filed May 25, 2001.

*  ENTERGY SERVICES, pursuant to the Commission's March 28, 2001 Order, submitted its RTO compliance filing.  RT01-75-003.  Filed May 25, 2001.

*  The following entities filed motions to intervene regarding the CAISO's proposed revision to its by-laws regarding the composition and authority of its Board.   EL00-95-030 and EL00-98-029.  Filed May 25, 2001.

-  CALIFORNIA ELECTRIC OVERSIGHT BOARD
-  NRG POWER MARKETING
-  RELIANT ENERGY POWER GENERATION and RELIANT ENERGY SERVICES
-  WESTERN POWER TRADING FORUM
-  MIRANT AMERICAS ENERGY MARKETING, MIRANT CALIFORNIA, MIRANT DELTA and MIRANT POTRERO

*  CALIFORNIA MUNICIPAL UTILITIES ASSOC. filed comments in support of SOUTHERN CITIES' motion for clarification of the Commission's April 26 Order regarding mitigation and monitoring of the CA wholesale market and a western wholesale rate investigation.  EL00-95-012.  Filed May 25, 2001.

*  NEPOOL submitted an informational filing and a request for an expedited Commission Order regarding its Standard Market Design for a congestion management system and multi-settlement system.  ER01-2115-000.  Comments due by June 12, 2001.

*  LOS ANGELES DEPARTMENT OF WATER AND POWER requested an opinion from the FERC General Counsel as to whether the sale of surplus energy LADWP makes to the CALIFORNIA DEPARTMENT OF WATER RESOURCES is subject to the price mitigation and "must sell" obligations in the Commission's April 26, 2001 Order.  Filed May 25, 2001.

*  AES SOUTHLAND filed comments out of time regarding the CAISO's outage coordination filing pursuant to the Commission's April 26, 2001 Order regarding mitigation and monitoring of the CA wholesale market and a western wholesale rate investigation.  EL00-95-034 and EL00-98-033.  Filed May 24, 2001.

*  PJM, pursuant to a Commission Order, filed Second Revised Sheet No. 54 to its Reliability Assurance Agreement Among Load Serving Entities, which eliminates the limit on the Alternative Value calculation.  ER01-1440-001.  Comments due by June 11, 2001.

*  PJM filed an amendment to Section 1.49 of its Amended and Restated Operating Agreement in order to clarify the definition of the term Weighted Interest.  ER01-2105-000.  Comments due by June 13, 2001.

(2) OATT/TRANSMISSION

*  ENTERGY SERVICES, on behalf of ENTERGY ARKANSAS, filed an Interconnection and Operating Agreement and a Generator Imbalance Agreement between itself and GENPOWER KEO.  ER01-2106-000.  Comments due by June 12, 2001.

*  COMMONWEALTH EDISON CO. and COMMONWEALTH EDISON CO. of INDIANA withdrew their April 20, 2001 filing, which would have amended the generator Interconnection Procedures set forth in Attachment K of COMED's OATT.  ER01-1833-000.  Filed May 25, 2001.

*  AMERICAN ELECTRIC POWER SERVICE CORP. filed a response to DUKE ENERGY NORTH AMERICA's comments regarding AEP's proposed amendments to its OATT regarding Interconnection Procedures.  ER00-2413-002.  Filed May 25, 2001.

(3) MERGERS/CORPORATE RESTRUCTURING

*  WESTERN RESOURCES and KANSAS GAS & ELECTRIC CO. filed an application for authorization to transfer operational control of certain jurisdictional transmission facilities to the SPP RTO.  EC01-103-000.  Comments due by June 11, 2001.

*  NIAGARA POWER COALITION filed a protest against the NIAGARA MOHAWK - NATIONAL GRID USA proposed merger as being procedurally and substantively deficient or in the alternative requests an evidentiary hearing.  EC01-63-000.  Filed May 25, 2001.

__________________________________________________________

Nancy Tarr
Manager, Business Development
EEI Alliance of Energy Suppliers
701 Pennsylvania Ave., N.W.
Washington, D.C.  20004
Telephone:  202-508-5680
FAX:  202-508-5600
www.eei.org/alliance

ntarr@eei.org
 - TEXT.htm
**********
Log on to Our Energy Future ( www.eei.org ) to get the facts on today's issues and learn about solutions we can all take part in.


For your viewing pleasure, the 2001 Customer Event photos can be found in the
following location:

P:\Photos\2001 Customer Event

Enjoy!


Because so many on this list have supported California's energy
efficiency investments, I wanted you all to see this important update
(and to note my personal appreciation to PG&E for pursuing this issue
with skill and diligence at an extraordinarily difficult time):

CONTACT: Peter Miller or Craig Noble at (415) 777-0220

Energy Efficiency Funding Protected in PG&E Bankruptcy Case
Public Purpose Programs Essential to Help Keep the Lights on, Says NRDC

SAN FRANCISCO (May 16, 2001) - A judge in San Francisco federal court
today ruled that approximately $260 million that had been tied up in the
Pacific Gas and Electric Company (PG&E) bankruptcy proceedings will be
released to fund California energy efficiency programs. These funds come
from a small surcharge on utility customers' monthly bills and provide
desperately needed electricity savings that will help protect the
reliability of the state's overstressed power grid, said NRDC (Natural
Resources Defense Council).

"This is a victory for California consumers and the environment," said
Peter Miller, NRDC senior scientist. "NRDC worked very hard to ensure
that the state would make these important energy efficiency investments
in the first place."

In a ruling from the bench this morning, Judge Dennis Montali of the
U.S. Bankruptcy Court in San Francisco ruled in favor of a motion by
PG&E for authority to honor its obligations for public purpose programs.
NRDC, Environmental Defense and Utility Consumers' Action Network filed
a memo with the court in support of the utility's argument that it is
merely a conduit for the public purpose funds and that the funds should
be off limits to the utility's creditors. "PG&E is to be commended for
strenuous efforts here in a very good cause," said Ralph Cavanagh, NRDC
energy program director.

California has aggressively promoted energy efficiency in buildings and
equipment since the 1970s, reducing total peak electricity needs by
about one-fifth or 10,000 megawatts (MW). Approximately half of those
reductions have come from public purpose programs funded by a small
surcharge on bills paid by customers of PG&E, Southern California
Edison, and San Diego Gas & Light. Since 1998 alone, these programs have
delivered about 500 MW of electricity savings.

"At a time when the difference between an intact grid and rolling
blackouts is sometimes measured in the tens of megawatts, energy
efficiency clearly represents the fastest, cheapest and cleanest
solution to California's electricity dilemma," said Miller.

The public purpose programs provide financial incentives to businesses
and consumers to design more energy efficient buildings and to buy
energy efficient equipment, such as refrigerators, air conditioners,
light bulbs and clothes washers. They also provide funding for
investments in renewable energy, low-income energy services, and
long-term research and development for clean energy technologies.

The Natural Resources Defense Council is a national, non-profit
organization of scientists, lawyers and environmental specialists
dedicated to protecting public health and the environment. Founded in
1970, NRDC has more than 400,000 members nationwide, served from offices
in New York, Washington, Los Angeles and San Francisco. More information
is available through NRDC's Web site at www.nrdc.org.


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 07/28/2000
05:09 PM ---------------------------

	Enron Capital & Trade Resources Corp. - Europe

	From:  Kirstee Hewitt                           07/28/2000 02:21 PM

To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject:

Again , I should have also sent the following mail yesterday.
...I guess now I should also apologise for filling up your mail box!
Have a good weekend,
Kirstee
---------------------- Forwarded by Kirstee Hewitt/LON/ECT on 28/07/2000
20:22 ---------------------------

	Enron Europe

	From:  Kirstee Hewitt                           27/07/2000 18:10

To: Cantekin Dincerler/HOU/ECT@ECT
cc: Grant Masson/HOU/ECT@ECT

Subject:

Hi - I have run the model for the 26th and have the following results :

I have also updated the correlations to include silver and the gold.
The TC delta (treatment charges) are positions only for copper conentrate and
do not
contain any positions due to zinc or lead.
Could you take a look at the figues as this is the first time I have done a
full run and
would like to make sure that I have done things correctly.
I will definitely call to discuss the prices for gold and cocoa beans - the
TC price curve is
another issue however, at the moment we do not have anything other than a
spot price and
a 1 year price so I think we will probably have to set it as a constant.
I have to talk to Andreas soon as he is awaiting my comments on point (2) of
his email that
I forwarded in my last mail.
Also, you will can see that I have subtracted any positions that are from R
Wolf in the Mercur download -
this was point (1) of his note.
As a quick question?
Do you think it is worth including Zinc concentrate (18400 dmt) and lead
concentrate (920 dmt) ?
I think we may need to check the TC price for these and the conversion for
the one given in the model for copper as
I think that the original historical price file (TChistory) is quoted in c/lb
- I guess this is cents/pound? rather
than $/dmt which is the units that position is quoted in .

Speak to you soon
Kirstee


----- Forwarded by Susan J Mara/NA/Enron on 11/29/2000 01:50 PM -----

	US Publishing <daily@restructuringtoday.com>
	11/29/2000 09:49 AM
	Please respond to daily

		 To: "RT Reader" <daily@restructuringtoday.com>
		 cc:
		 Subject: Restructuring Today, Wednesday November 29, 2000

(see attached file:  rt001129.pdf)

Thank you,

Season Hawksley
US Publishing
1-800-486-8201
www.restructuringtoday.com
season@restructuringtoday.com

 - rt001129.pdf


The target date specified in an open audit observation has been reached.
Click on the document link below to view the observation / action step(s).
Please provide action step implementation detail along with completion date
and submit return response to Donna Lowry.  If you should have any questions
relating to this audit, please call the Observation Contact listed in the
following observation (document link).  Thank you.  NOTE:  EACH E-MAIL
REPRESENTS A SEPARATE AUDIT OBSERVATION.

Click on this link to view document -->


Thanks! I handed off the fax to Christian, who said he was extremely busy
today but would try to get to it this afternoon. In the meantime, I've been
told by Chris Mallory that the most important issue is that all
index-forwards get uniform confirmation language. As far as what that
language is, I'm not sure. Is this different than the confirm letters you've
received in the past? Let me know if you need me to expedite the process and
get someone else's opinion.

Thanks,
Kate

	From:  Kimberly Allen                           01/10/2001 06:57 AM

To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Re: #485446

Kate, I just faxed over the Constellation confirm just in case you need to
view it.

Thanks,

Kimberly

   Kate Symes                01/09/2001 06:51 PM

To: Kimberly Allen/HOU/ECT@ECT
cc:
Subject: Re: #485446

I've forwarded this message onto Christian Yoder, one of our lawyers. Chris
Mallory and Jeff Richter suggested I check with Christian first on the
language of these confirms. I'll get back to you first thing tomorrow.

Thanks,
Kate

	From:  Kimberly Allen                           01/09/2001 01:48 PM

To: Kate Symes/PDX/ECT@ECT
cc:

Subject: #485446

Kate,
I received and index trade into NP15 that Chris Mallory did. For Price the
confirmations states:

The average day ahead, post congestion price for the Constrained Price as
published by the California Power Exchange for the on in the period of
delivery stated herein plus 3.00.

Is this language o.k. to accept on the confirmation.

Thanks,

Kimberly Indelicato
33031


We have made the  following modifications to the EnronOnline applications.

Stack Manager Changes

Fill Order Enhancements - (Effective Tuesday September 25)
?	To fill a Top of Stack order in Stack Manager, Right click on the pink shaded order in the depth window of Stack Manager and select fill.
?	The trader now has the ability to fill limit orders that appear at the top of the trader's stack on both sides.
?	The order will now be filled at the full order volume regardless of the trader's stack volume.
?	Filling an order will not move the trader's price or cause a hedge to occur.

Resize floated stack windows- (Effective Tuesday September 25)

You will now have the ability to resize the stack window to the desired extent.

Website Changes ( Effective Monday September 24)

Limit Order Restrictions on Physical Transactions -
?	Customers will not be allowed to transact with themselves on physical transactions. If a top of stack limit order has been placed on a physical product the counterparty or desk that placed the order will not be allowed to transact on it.
?	If a customer or desk has top of stack limit orders at different prices on both the bid and offer and subsequently moves the price of one so that they are at the same price, both orders will be cancelled. The customer would have effectively transacted with himself.

Please call me if you have any questions. Thanks.

Savita ( X 31787)


We understand that the recent cases of Anthrax contamination and the possibility that biological agents such as Anthrax may be used in a terrorist attack are raising great concerns among Enron employees.  Many government and commercial facilities in the United States have already received Anthrax threat letters containing powdery substances.  Most of these have, however, been determined to be false alarms.  We have no reason to believe that Enron has been or will be the target of an Anthrax attack, but we want to provide all employees with background information on Anthrax and up-to-date guidance for handling any possible Anthrax exposures.

If you have additional questions or concerns, please contact Corporate Security in Houston at (713) 345-2804 or via email at CorporateSecurity@enron.com.

The most important thing to remember is:  Do not panic.  To infect someone, the Anthrax organism must be rubbed into abraded skin, swallowed, or inhaled as a fine, aerosolized mist.  Infection can be prevented after exposure to Anthrax by early treatment with the appropriate antibiotics.  Anthrax cannot be spread from one person to another.

Following are guidelines for identifying and dealing with suspicious letters or packages:

What constitutes a suspicious letter or parcel?  (Remember, these are only guidelines.  Use your best judgment when determining if a letter or package is suspicious.)

--  It is marked with the word "Anthrax."
--  It has a non-identifiable powdery substance on the outside.
--  It is unexpected or from someone unfamiliar to you.
--  Is addressed to someone no longer with your organization or is otherwise outdated.
--  Has no return address, or has one that cannot be verified as legitimate.
--  Is of unusual weight, given its size, or is lopsided or oddly shaped.
--  Has an unusual amount of tape on it.
--  Is marked with restrictive endorsements such as "personal" or "confidential".
--  Has a strange odor or stain.
--  Shows a city or country in the postmark that does not match the return address.

What do I do if I receive such a letter or package that I believe contains Anthrax?
--  Do not shake or empty the contents of any suspicious envelope or package.
--  Place the envelope or package in a plastic bag or some other type of container to prevent leakage of contents.
--  If you do not have any container, then cover the envelope or package with anything (e.g., clothing, paper, trash can, etc.) and do not remove this cover.
--  Leave the room and close the door, or section off the area to prevent others from entering (i.e., keep others away).
-- Wash your hands with soap and water to prevent spreading any powder to your face.
--  Notify your local building security official or an available supervisor.  Have them call 911 to alert the local police authorities.
--  List all people who were in the room or area when this suspicious letter or package was recognized. Give this list to both the local public health authorities and law enforcement officials for follow-up investigations and advice.
If you open an envelope or package and a suspicious powder spills out:
--  Do not try to clean up the powder.  Cover the spilled contents immediately with anything (e.g., clothing, paper, trash can, etc.) and do not remove this cover!
--  Leave the room and close the door, or section off the area to prevent others from entering (i.e., keep others away).
--  Wash your hands with soap and water to prevent spreading any powder to your face.  Report the incident to your local building security official or an available supervisor.  Have them call 911 to alert the local police authorities.
--  Remove heavily contaminated clothing as soon as possible and place in a plastic bag, or some other container that can be sealed.  This clothing bag should be given to the emergency responders for proper handling.
--  Shower with soap and water as soon as possible.  Do not use bleach or other disinfectant on your skin.
--  If possible, list all people who were in the room or area, especially those who had actual contact with the powder. Give this list to both the local public health authorities so that proper instructions can be given for medical follow-up, and to law enforcement officials for further investigation.


Thanks,

Kern said they should have these docs ready for us by tomorrow.  They also
changed their mind on Paragraph #5, and they want it to stay in.  Can you
live with that?

Julie  :-)


This version includes Jim's and Ken's suggestions.

Best,
Jeff


Please send out AES Corp books today to Glen Davis.  Please give me a call if
you have any questions.  Thanks!
Ben


maybe we  should try it for lunch when we are hung over.


Dear Vince,
?
Thanks for your call the other day regarding  EPRM's upcoming enterprise risk
management conference. We seem to be making  progress and are pulling
together some interesting subjects for inclusion this  year. I am currently
at a stage where there are plenty of possible sessions and  over the next
week I will be able to decide of which will stay and which will  go.
?
I have attached a file that gives an indication  of the topics that have been
identified so far. Although I have bullet points  for the sessions I would
first like to identify interested parties and then work  with them to develop
a session that reflects their particular expertise and  experience. I also
think that by continuously developing the points we can make  greater
allowances for continuity between each participant.
?
Based on our discussion I would be extremely  interested in inviting you to
lead a session on the main conference. You seemed  to have an interesting
view on operational risk and the particular challenges  that are presented
within the energy industry. This session will run on  Thursday, November
16th. The title is reasonably broad at this stage and any  suggestions are
welcome.
?
Your overall views on the current conference content is also  welcome and if
you feel that another session is more suited to your work do not  hesitate to
contact me. I look forward to speaking with you soon.
?
Yours sincerely,
?
Paul Bristow
Senior Course and Conference Producer, Energy & Power Risk  Management
+44 (0) 20 7484 9883
 - maildoc.doc


ta!

j

From: Tana Jones on 26/10/2000 08:55 CDT
To: Justin Boyd/LON/ECT@ECT
cc:

Subject: (MS68) Name Change for Clearing Member Firm

----- Forwarded by Tana Jones/HOU/ECT on 10/26/2000 08:54 AM -----

	exchangeinfo@nymex.com
	10/26/2000 09:36 AM

		 To: tana.jones@enron.com
		 cc:
		 Subject: (MS68) Name Change for Clearing Member Firm

Member Services Notice No. 00-68
October 24, 2000

COMMODITY EXCHANGE, INC.

NAME CHANGE FOR CLEARING MEMBER FIRM

 Please be advised that the Exchange has been notified that effective October
6, 2000, MG London, Inc.  has changed it,s name to Enron Trading Services Inc.

 Inquiries regarding the above should be directed to the Member Services
Department at (212) 299-2370.

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

"
http://208.206.41.61/email/email_log.cfm?useremail=tana.jones@enron.com&refdoc
=(MS68)"

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.


We have had a small hardware failure and will be functional shortly.  Pardon
the delay.

_________________________________________________________________
Get your FREE download of MSN Explorer at http://explorer.msn.com/intl.asp


Hello all!

Please note that the ClickAtHome Road Show is open in Mt. Hood and Rainier.
You can view what they have to offer (PCs, accessories, etc), and speak with
representatives from the ClickAtHome Program, AT&T @ Home, Dell, HP, etc. You
can also order your PC in Mt. Rainier.

If you have any questions, please stop by!

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

The ClickAtHome ordering will be taking place in MT. RAINIER from 1pm to 5pm.


Enron in Action can be accessed through the new Community Relations web site at http://cr.enron.com/eia.html .  In this week's issue you will find out information regarding:

Enron Happenings
Enron Kids' Center Now Open!
A Children's Commemorative Concert
Juvenile Diabetes Research Foundation "Walk to Cure Diabetes"
Juvenile Diabetes Research Foundation Airline Ticket Raffle
Quality of Life Coalition - Houston
American Heart Association "Heart Walk"
Enron Travel Club Monthly Meeting
Plant Sale
Museum of Fine Arts 2001 - 2002 Membership Drive

Enron Volunteer Opportunities
Sunshine Kids at Astroworld!
Race for the Cure
Jewish Community Center "Everyone's Internet Children's Carnival"
Assist PSI HomeSavers with Home Repair
Northeast Houston Tropical Storm Allison Relief
MD Anderson Cancer Center - Children's Art Project

Enron Wellness
Help Us Help Others.  Call and Schedule a Massage Today
Join The Downtown Club at The Met and assist victims of the September 11 tragedy
CanCare Cancer Support Network
Fall 2001 Fashion Show and Luncheon
Bella Rinova Spa at the Downtown Club (Met)

Involved Employees
Beginner Ballroom Dance Lessons
Par "Fore" Pets Golf Tournament

In addition, Enron in Action is available through a channel on my.home.enron.com.  To add this channel to your set-up click on the channels link at the top of the screen and under announcements check the Enron in Action box.

If you wish to add an announcement to Enron in Action, please fill out the attached form below and submit it to mailto:eia@enron.com no later than 12 PM Thursday each week.


Brian,

Just a couple of things.  First the risk type on the spreadsheets needs to be
the same as on the files I sent to you.  Second, I am attaching a copy of the
positions that I queried out of GRMS after I loaded your text files.  The
positions aren't even close to the IM Positions file you save out to our
directory.  I have also included the detail that supports the GRMS position.
Our goal with the text files is to eliminate the need for plugging your
positions and to ensure that your correct position is included in the VAR
calculation.  Let me know if there is anything I can do to help you resolve
this variance.

Thanks,
Robin


_____________________DAVID COURSEY_____________________

WINDOWS XP URBAN LEGENDS AND MYTHS--DEBUNKED!

    As the clamor about Windows XP grows--it's
         being officially launched tomorrow--so
         does the confusion. I'll take a look at the
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         about licensing, authorization, and compatibility
         and give you some answers.

http://cgi.zdnet.com/slink?/adeskb/adt1024/2819735:8593142

#

_____________________NEWS ANALYSIS_____________________

Patrick Houston

    HOW WIN XP MARKS THE END OF THE PC'S PLANNED OBSOLESCENCE

    The debut of Windows XP could stand as
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     PLUS:

     APPLE REVEALS ITS 'BREAKTHROUGH' GADGET

      AS TECH SHRINKS, SO DO THE PAYCHECKS

http://cgi.zdnet.com/slink?/adeskb/adt1024/2819777:8593142

_____________________EXPERT ADVICE_____________________

Robert Vamosi

  WINDOWS XP JUST DOESN'T CUT IT IN THE SECURITY DEPARTMENT

   Like those cheesy all-in-one stereos from
         the '70s, the components in Windows XP are
         inferior to their standalone counterparts--especially
         when it comes to security. Robert points out
         the OS's security weaknesses, and tells you
         how to safeguard your computer.

http://cgi.zdnet.com/slink?/adeskb/adt1024/2819732:8593142

			> > > > >

Stephan Somogyi

  APPLE JUMPS INTO THE MP3 GAME--AND DOES IT RIGHT

   The just-unveiled iPod may have the distinction
         of being the first portable MP3 player to make
         the most of the genre. Stephan Somogyi investigates
         why this Mac peripheral might be worth a good
         long look (and listen).

http://cgi.zdnet.com/slink?/adeskb/adt1024/2819780:8593142

			> > > > >

Stephen Howard-Sarin

  STAY HOME! SOFTWARE FOR SHUT-INS DOMINATES THE
  TECH INDEX

   Can you say 'agoraphobia'? The most popular
         topics on ZDNet this week are all about staying
         at home and letting the music, software, or
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http://cgi.zdnet.com/slink?/adeskb/adt1024/2819748:8593142

			> > > > >

Preston Gralla

  THREE 3D SHOOTERS: PUT YOUR AGGRESSION TO GOOD USE

   Feeling a bit belligerent? Take it out on your
         PC. Preston picks three great 3D shooter video
         games that will help release your excess frustration.

http://cgi.zdnet.com/slink?/adeskb/adt1024/2819697:8593142

			> > > > >

_____________________CRUCIAL CLICKS_____________________
Make sure you see these features on ZDNet today!

IS XP READY FOR THE ENTERPRISE?
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SIX TRENDS IN BUSINESS INTELLIGENCE
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 ###


Attached please find a very rough first cut of a proposal letter outlining a
proposal format that we are likely to submit to NiMO on Tuesday 5/8 (due 10
AM eastern).   Please have a read through and provide me any comments or
feedback.   We will be finalizing our indicative numbers for the proposal on
Monday, so any feedback would be appreciated no later than noon on Monday
(earlier if possible).    thanks

John

P.S. please forward to anyone i migth have missed


ok
-----Original Message-----
From: Love, Estelle [mailto:ELove@coair.com]
Sent: Wednesday, October 24, 2001 12:56 PM
To: Geaccone, Tracy
Subject: RE: Mary Cate Love 14 months

Let's plan for the 6th.

Estelle Love
Manager,  Multinational Sales & Revenue Programs Planning
Continental Airlines, Inc.
713-324-2643 - phone
713-324-4647 - fax
elove@coair.com

-----Original Message-----
From: Geaccone, Tracy [mailto:Tracy.Geaccone@ENRON.com]
Sent: Wednesday, October 24, 2001 12:39 PM
To: Love, Estelle
Subject: RE: Mary Cate Love 14 months

How about Nov 5 or 6?
-----Original Message-----
From: Love, Estelle [mailto:ELove@coair.com]
Sent: Wednesday, October 24, 2001 12:27 PM
To: Geaccone, Tracy
Subject: RE: Mary Cate Love 14 months
Oh?next Monday is bad because I have a Halloween party for MC at Cr?me de la Cr?me?so I'm taking off early that day. The 31st is bad, too.  How about Tuesday, Thursday or Friday next week?

Estelle Love
Manager,  Multinational Sales & Revenue Programs Planning
Continental Airlines, Inc.
713-324-2643 - phone
713-324-4647 - fax
elove@coair.com

-----Original Message-----
From: Geaccone, Tracy [mailto:Tracy.Geaccone@ENRON.com]
Sent: Wednesday, October 24, 2001 11:16 AM
To: Love, Estelle
Subject: RE: Mary Cate Love 14 months

I like the dinner group idea.  What about lunch on Monday, Oct 29?
-----Original Message-----
From: Love, Estelle [mailto:ELove@coair.com]
Sent: Wednesday, October 24, 2001 9:28 AM
To: Geaccone, Tracy
Subject: RE: Mary Cate Love 14 months
Hey Tracy,

How are you?  It seems like ages since we've seen each other.

Bunco?well, I know Pam Guidry was the October person, but we figured it wouldn't happen because she hasn't been to the last couple of Buncos.  Then the list ended and I haven't heard from anyone complaining.  I'm not sure if Christi Chickering is still having a Holiday Bunco or not. I'm surprised we haven't heard from Sandra or Debbie via e-mail. Mary Lynn probably won't join again, she wants to do a small dinner group with just you, me, Lisa, Stephanie?the five of us?unless I'm missing someone.

Let me know when you're free for lunch, I'm pretty flexible these days.

Estelle Love
Manager,  Multinational Sales & Revenue Programs Planning
Continental Airlines, Inc.
713-324-2643 - phone
713-324-4647 - fax
elove@coair.com

-----Original Message-----
From: Geaccone, Tracy [mailto:Tracy.Geaccone@ENRON.com]
Sent: Tuesday, October 23, 2001 6:08 PM
To: Love, Estelle
Subject: RE: Mary Cate Love 14 months

Very Cute!!!! How have you been?  What has happened to Bunco?  We need to go to lunch.

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


Clean Energy Solutions L.L.C.

This limited liability company was formed in Delaware on April 5, 2000.
Particulars are:

 Parent Company: Enron North America Corp. - 100%

 Business: To engage in the development and installation of clean energy
solutions for the power generation industry.

 Directors and Officers: See Attachment

 Employees: No

 Foreign Qualifications: None

 Company No.: 1569-CASL

Please circulate this information to all interested parties in your group.

For more information, see attached Corporate Data Sheet.

PLEASE NOTE:
 Matt Maxwell - copy of evidence being sent by interoffice mail
 Monica Butler - please apply for FEIN
 Sylvia Hu - Minute Book and two seals have been ordered

Lillian R. Bailey
Administrator
Corporate Services
EB4804A
Phone 713/853-3577
Fax 713/646-8007
lillian.bailey@enron.com


[IMAGE]
     Special Offer from Traditional Home Magazine
 Trust yourself! Make  your home all you want it to be with gracious style for the perfect, easy  way you want to live. There's never been a better time to subscribe .
 Dear  scott,  Welcome  to the Better Homes and Garden Test Kitchen. All of the Better Homes and  Gardens recipes have been tested in the magazine's famed Test Kitchen.        [IMAGE]Pork  Medallions with Summer Salsa  Jalapeno peppers add a bit of hotness to the refrshing  fruit-and-vegetable salsa.         For a printable version  of this recipe, click  here.       For more recipes,  click here.    New this week:  Berries  of Summer: Learn about one of summer's best kept secrets: the berry.
[IMAGE]     8 boneless  pork loin chops, cut 1-1/4 to 1-1/2 inches thick (America's Cut)    1/4 cup lime  juice   1/4 cup Worcestershire  sauce   1/4 cup coarse-grain  brown mustard or Dijon-style mustard   3 tablespoons  vinegar              2 tablespoons  water   1-1/2 teaspoons  ground cumin   1/4 teaspoon  salt   1/8 teaspoon  pepper   1 recipe  Summer Salsa (see below)

     1. Place the pork loin chops in a clean, heavy plastic bag. Set  the bag in a large bowl. Combine the lime juice, Worcestershire sauce,  mustard, vinegar, water, cumin, salt, and pepper. Pour over the pork in  bag; seal the bag. Marinate in the refrigerator for at least 4 hours or  up to 24 hours, turning occasionally.     2.   Remove the pork from the bag, reserving marinade. Grill* pork on an uncovered  grill directly over medium coals for 20 to 30 minutes or until thermometer  registers 160 degrees F., juices run clear, and meat is slightly pink  in center; halfway through cooking turn and brush with marinade. Serve  with Summer Salsa. Makes 8 servings.   *To broil: Place pork  on unheated rack of a broiler pan. Broil 4 to 5 inches from heat for 22  to 24 minutes or until thermometer registers 160 degrees F. and juices  run clear, turning once halfway through cooking and brushing with marinade.    Summer  Salsa: In  a medium mixing bowl combine 1-1/2 cups chopped fresh apricots or peeled  peaches; 3/4 cup chopped red or green sweet pepper; 3/4 cup chopped, seeded  cucumber; 1/4 cup sliced green onion; 1 to 2 jalapeno peppers**, seeded  and finely chopped; 2 tablespoons honey; 2 tablespoons lime juice; and  1 tablespoon snipped fresh cilantro or parsley. Cover; chill for up to  4 hours, stirring once or twice. Serve with a slotted spoon. Makes about  2-1/2 cups salsa.   **Note:  Because hot chile peppers contain volatile oils that can burn your eyes,  lips, and skin, avoid direct contact with them as much as possible. When  working with chili peppers, cover your hands with plastic bags (or wear  plastic or rubber gloves). Be sure to wash your hands well with soap and  water before touching your eyes or face.   Nutrition facts  per serving: 248 calories, 12 g total fat, 4 g saturated fat, 77 mg  cholesterol, 182 mg sodium, 11 g carbohydrate, 1 g fiber, 25 g protein,  18% vitamin A, 61% vitamin C, 2% calcium, 11% iron.
  Special  Promotion from Better Homes and Gardens  [IMAGE]Better  Homes and Gardens New Cookbook Here's  America's best-selling cookbook! This all-time classic covers everything  you'll ever need to know about cooking. 1,259 delicious recipes  in this latest edition! This is the book that teaches America how  to cook! Ringbound Edition. Click here   to purchase.

 [IMAGE] [IMAGE] Our seal assures you  that every recipe has been tested in the Better Homes and Gardens
  Test Kitchen. This means that each recipe is practical and reliable,  and meets our high standards of taste appeal.
 Your Email: [scott.hendrickson@enron.com] is on the mailing list. If you do not wish to  continue receiving the BHG Daily Recipe via e-mail, please edit  your newsletter preferences  or see instructions below to unsubscribe offline.    If you have any questions or concerns, you can e-mail us at support@bhglive.com     To subscribe to the BHG Daily Recipe, please go to bhg.com  Member Center    To update your e-mail address, please go to the bhg.com Member Center   and  click on the link to update your profile. You'll need your current e-mail  address and password to log-in. If you've forgotten your password, there  is a link in the Member Center to have it e-mailed to you.   If you prefer to unsubscribe offline, please send a letter or postcard  with your name, complete mailing address, e-mail address, and the names  of the newsletters from which you wish to unsubscribe to: Newsletter Unsubscribe,  c/o Meredith Corporation LS 205, 1716 Locust St., Des Moines, Iowa 50309-3023    Copyright 2001 Meredith Corporation. All rights reserved.

[IMAGE]


I am sure this is what we want to capture.  When you get a chance, tell me
how you get the volume done each day so I can find it and incorporate it into
our graph.

c


I will let you know by tomorrow what the exact times of the games begin on
Saturday so when can fly in on Sat.  We ended up working around the apartment
and getting things in order.  Pretty boring but nice.  I ran this morning and
played outdoor b-ball, it was really nice outside.  Hope we can get together
soon b/c it was good to see you and Susan for dinner last week.  Talk to you
this week.
Ben


Many of you have inquired about January reimbursements to 2002 flexible spending accounts.  Aon Consulting, Enron's flexible spending account administrator, has experienced some processing delays.  Aon has encountered difficulty in retrieving spending account deduction information, and some deductions are not appearing in Aon's records.  Enron Benefits is working with our IT group to help Aon resolve this issue.  Also, unprecedented activity at the end of 2001 flooded Aon with year-end claims.  Aon has assured us that 2001 reimbursements are now up-to-date, and that they began processing 2002 reimbursements on Monday, February 4.

Questions regarding flexible spending accounts can be directed to georgia.fogo@enron.com.


Bart,

I will try my hardest to take care of this today.  We have a mandatory
offsite from 9:00-1:00 today (fyi).  I can't tell you how glad I was to see
this message because I am working on another Law Gibb PSA and related tasking
letter on a Florida sitre and did not know that there were certain
requirements to be met to fit within TurboPark.

Barton Clark@ECT
02/08/2001 06:25 PM
To: Kathleen Carnahan/NA/Enron@Enron
cc: Herman Manis/Corp/Enron@ENRON

Subject: Re: Stone and Webster/Black & Veatch/Other Development Agreements

Can you organize the Law Gibb Professional Services Agreement and amendments
thereto and the related Law Gibb Tasking Letter (s) and amendments thereto
and send them to Herman? I also gave you my FP&L interconnection file, and I
believe the agreement referred to by Herman is in there, so if you would
please send him that as well. Please send him copies as he likes to mark on
things.  Thanks.
----- Forwarded by Barton Clark/HOU/ECT on 02/08/2001 06:20 PM -----

	Herman Manis@ENRON
	02/08/2001 04:49 PM

		 To: Barton Clark/HOU/ECT@ECT
		 cc: Lisa Bills/Corp/Enron
		 Subject: Re: Stone and Webster/Black & Veatch/Other Development Agreements

I need to see the Law Gibb DSA & Tasking Letter and the FP&L Interconnection
Study Agreement.

Barton Clark@ECT
02/08/2001 04:43 PM
To: David Fairley/HOU/ECT@ECT, Mathew Gimble/HOU/ECT@ECT, Bruce
Golden/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Darrell Stovall/NA/Enron@Enron,
George McCormick/HOU/ECT@ECT
cc: Lisa Bills/Enron@EnronXGate, Catherine Clark/Enron@EnronXGate, Roseann
Engeldorf/Corp/Enron@ENRON, Herman Manis/Corp/Enron@ENRON
Subject: Stone and Webster/Black & Veatch/Other Development Agreements

Attached are Turbo Park and accounting "approved" forms of the Technical
Design Services Agreement between FPRP and Stone & Webster ( TDSA) and the
Agreement for Professional Engineering Services between FPRP and Black &
Veatch ( B&V Agreement). Each form has to now be fashioned to reflect the
business deal/payment terms/etc. Note that the Scope of Work on the TDSA
underwent substantial modification to conform with 97-10 requirements, and
the attached draft Scope of Work only deals with the Facility ( as defined in
the TDSA ), and not the "improvements" ( which term was included in the draft
Tasking Letter from which the Scope of Work was fashioned).I assume we will
need to "clone" this TDSA except for a different Scope of Work description to
deal with such "improvements" other than the Facility ( ie, I assume these
are the King Plant improvements).

The TDSA is calculated to put as much of the Turbo Park-approved EPC in front
of Stone & Webster at the earliest possible date, so that the amendment and
restatement of the TDSA to make it a full blown Turbo Park EPC Contract will
be more straightforward. Right now, it is contemplated FPRP would assign its
interests as Construction Manager under the TDSA to ENA, and the TDSA would
be concurrently amended and restated as set forth above, both at the time the
FPRP goes into Phase II of Turbo Park. At the time FPRP goes into Phase I of
Turbo Park, I believe the TDSA can remain an FPRP obligation ( like any other
development agreement signed by a project entity that is subsequently
transferred into Turbo Park). Since the TDSA now only involves soft cost
expenditures, FPRP can sign it as soon as it is negotiated and agreed by
Stone & Webster and before it goes into Phase I of Turbo Park.

The B& V Agreement, which was modeled on Black & Veatch's agreement with
FPUA, also can be signed prior to going into Phase I as soon as it is
negotiated with Black & Veatch. Like the TDSA, there are commercial terms
that need to be added. It was modeled on the FPUA Black & Veatch Agreement
because that should speed negotiation with B & V on its terms, and we may
want to assign the B & V Agreement to FPUA ( and they too would be
comfortable with its terms). My understanding is that FPUA is supervising the
transmission work and will be driving the design and engineering of the
transmission facilities, so it may make sense for FPRP to assign the B & V
Agreement to FPUA and simply retain the obligation to pay B & V ( up to a
cap).

I also have attached a revised version of the spreadsheet Mathew prepared
listing FPRP contracts already entered into by FPRP ( the so-called secondary
development agreements)  and those proposed to be entered into before we go
into Phase I of Turbo Park. Herman and Lisa, let me know which of  the
secondary agreements you have not previously reviewed ( those marked NO re
your review ) that you need to review, and I will endeavor to furnish them to
you.

Let me know if you have any questions.


i am never wrong

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Monday, November 19, 2001 12:26 PM
To:	Nelson, Michelle
Subject:	RE:

you are absolutely wrong

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Monday, November 19, 2001 12:24 PM
To:	Maggi, Mike
Subject:	RE:

i think that you brought it up.

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Monday, November 19, 2001 12:18 PM
To:	Nelson, Michelle
Subject:	RE:

you didnt bring it up for no reason

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Monday, November 19, 2001 12:17 PM
To:	Maggi, Mike
Subject:	RE:

no it wasn't.  i told you that robyn said you should come up when i did and we could all go out.  remember buddy,  i wasn't as drunk as you were.  by the way, did you get sick on the way home?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Monday, November 19, 2001 12:16 PM
To:	Nelson, Michelle
Subject:	RE:

first of all ny was your idea

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Monday, November 19, 2001 12:15 PM
To:	Maggi, Mike
Subject:

so are you going to tell me or just leave me hanging out here?


CGoering@nyiso.com writes to the NYISO_TECH_EXCHANGE Discussion List:

The NYISO is reserving the following hours in the October 18, 2001
Real-Time Market per ECA 20010908B to verify prices:

HQ:  7:00, 22:00
OH:  7:00, 22:00
NE:  7:00, 12:00-18:00, 22:00
PJM: 1:00-5:00, 7:00, 13:00-16:00, 22:00

Prices in the October 19, 2001 Day-Ahead Market are correct.

This e-mail information is a copy of the official posting which can be
found at the following address of our website:
http://mis.nyiso.com/public/htm/OperMessages/CurrentOperMessages.htm#mm


RT-

The new URL for the El Paso data scrape is:
http://172.17.172.62/rt/current.asp

OR

John Oh
Enron North America		503.464.5066
121 SW Salmon Street		503.701.1160 (cell)
3WTC 0306			503.464.3740 (fax)
Portland, OR 97204			John.Oh@Enron.com


Please disregard previous message re location of North Canton.

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

----- Forwarded by Debra Perlingiere/HOU/ECT on 10/17/2000 03:20 PM -----

	Debra Perlingiere
	10/17/2000 03:13 PM

		 To: John M Singer/Corp/Enron@ENRON
		 cc:
		 Subject: Re: Contract for Gatherco, Inc.

Which state is North Canton located in?

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


We have changed the format for our newsletter. Please let me know if you
have any difficulty opening the attachments.

 <<ESCO Newsletter 2002-01.doc>>

 <<FullServiceADJ2002.XLS>>     <<RetailAccessADJ2002.XLS>>


Thanks Lynn!  DF

   Lynn Blair                02/25/2000 01:49 PM

To: Drew Fossum/ET&S/Enron@ENRON, Julia White/ET&S/Enron@ENRON
cc: Sheila Nacey/ET&S/Enron@ENRON, Steven January/ET&S/Enron@ENRON, Charlie
Graham/ET&S/Enron@ENRON, Michael Moran/ET&S/Enron@ENRON, Rick
Dietz/ET&S/Enron@ENRON, Linda Trevino/ET&S/Enron@ENRON, Julia
White/ET&S/Enron@ENRON, Lynn Blair/ET&S/Enron@ENRON

Subject: Re: FTC Subpoena

Just to follow up on my phone call to Drew and to let Charlie know the status.

 1.  Mike Moran is going to get with Perry Frasier, TW Facility Planning and
review
      a map Mike has.  Perry will cover both NNG and TW.

 2.  Linda Trevino will put together the wellhead/producer connect
information request
      by usine information out of PLE for a, b and c.  She will then give the
spreadsheet
      to Sharon Mcknight to update for d,e and g.  Mike, I believe you are
addressing f, h and i.

 3.  Linda will try to have this information next week.

If you need any additional information, please let Steve, Linda or I know.
Thanks. Lynn

	From:  Drew Fossum                           02/25/2000 11:57 AM

To: Sheila Nacey/ET&S/Enron@ENRON, Lynn Blair/ET&S/Enron@ENRON, Steven
January/ET&S/Enron@ENRON, Charlie Graham/ET&S/Enron@ENRON
cc: Michael Moran/ET&S/Enron@ENRON

Subject: FTC Subpoena

I understand that the FTC subpoena I sent to Julia and Mike Nelson yesterday
has found its way to you.  Please give me a call with your thoughts on who is
best situated to help prepare the response and how long it would take.  Mike
Moran and I plan to call the FTC back this PM to discuss so your input would
be helpful.  Thanks for your assistance.  DF


well?

	Enron North America Corp.

	From:  Brenda F Herod                           01/04/2001 02:22 PM

To: Eric Bass/HOU/ECT@ECT
cc: Timothy Blanchard/HOU/EES@EES, David Baumbach/HOU/ECT@ECT, Bryan
Hull/HOU/ECT@ECT
Subject: Re: Lunch

About time!  As always, you know I try to change things.  I have a meeting I
need to attend on Friday, 1/12.  Would Thursday, 1/11 work?  I really am
looking forward to it.  let me know.

	Enron North America Corp.

	From:  Eric Bass                           01/04/2001 12:55 PM

To: Brenda F Herod/HOU/ECT@ECT
cc: Timothy Blanchard/HOU/EES@EES, David Baumbach/HOU/ECT@ECT, Bryan
Hull/HOU/ECT@ECT
Subject: Lunch

Brenda,

I know that I have mentioned a lunch several times and have finally gotten
around to coordinating it (thanks, Dave).  How does Friday, Jan. 12. sound?

-Eric


Bill:

Just wanted you to know that EPE lost one of the Turbines hour ending 18 @ about 17:30 or so...I tried to buy power from everyone but to almost no avail (exept 50mw @ 53.00 integrated to a 13mw 3/4 past the hour)...Furthermore, I cut IID to a 100mw from a 120mw which integrated to a 115mw (being as I kept the first 100 whole),

For HE 19 I was forced to cut one of a 25mw purchase from PNM @ $32.00 to a 13mw because our imports were over capacity.  I also bought back 50mw from IID for HE 20 @ $40.00.

Please see the note for more details or the model and ask me with any questions

Bert


John is out of the office until Wednesday.  He sent me this list
    of topics he caught in the second break out session.  Thought I
    would go ahead and pass them on to you.  Thanks. Lynn
-----Original Message-----
From: Buchanan, John
Sent: Saturday, September 08, 2001 10:33 AM
To: Blair, Lynn; Blair
[Blair, Lynn]  Subject: Customer meeting notes

I have no names for the questions or statements.

1. NSP wants to be set up for Confirmation by Exception.
2. Improve how soon we post system problems and include EDI customers.
3. Storage allocation should show injection or withdraw allocation in the Batch Schedule Status screen.
4. Provide Scheduled Quantities reports by date range in a format for downloading in to Access database.
5. GAS in Place is a moving capacity target, needs to be a 24hr number.
6. Cut notice should include the cut code.
7. Previous cycle cut codes do not show up on the final report.
8. Improve phone coverage from 7:30am until noon by CSR.
9. 8am Gas Control meeting interfeers with phone coverage, we should make sure to minimize how many reps. attend the meeting so phones are covered. Customers like assigned CSR.
10. Customers said cut notices are getting out consistantly.Customers would like cut notice by LE.
11. When are measured volumes final? Water vapor factor is figured at month end and customers should include in there montly calcualtion.


Please use the attached as go-bys.
---------------------- Forwarded by Nick Cocavessis/Corp/Enron on 08/31/2000
10:06 AM ---------------------------

Scott Dieball@ENRON_DEVELOPMENT
06/23/2000 05:16 PM
To: Nick Cocavessis@ENRON
cc: Brian Redmond@ECT

Subject: EPC/OE Contracts

Forgot to copy Nick.
---------------------- Forwarded by Scott Dieball/ENRON_DEVELOPMENT on
06/23/2000 05:10 PM ---------------------------

Scott Dieball
06/23/2000 05:10 PM
To: Brian Redmond@ECT
cc:

Subject: EPC/OE Contracts

Not much luck thus far.  Both of my pipeline/process contracting guys are
gone for the day.  I'll talked to them on Monday.  In the meantime, attached
are sample forms for the following:

1.  Owner's Engineer Agreement (this form was put together for the Vitro
power project but the type of project won't really make a difference in most
respects)

2.  EPC Term Sheet (this form was taken from the RioGen power project so some
of the terms will probably not be applicable such as performance LD
provisions)

I can send you an EPC contract go-by for power projects but I think many of
the provisions will be overkill or otherwise not applicable.  Let me know if
you want it, otherwise, I'll see what I can find on Monday re an EPC contract
(and EPC termsheet) for pipeline/process projects.

Regards.

Scott


Chris,

good to talk to you, everything is going well here, glad school is
over.........

my cell phone is 503-880-9135 - best place to reach me.....

we need to get together.

Hope things are well with you... Sorry to hear your dad is having a tough
time.....

Give me a call ----

Regards,
David


. . . STAR WARS IS COMING TO HOUSTON!

Click Here For More Details

http://home.enron.com:84/messaging/starwars.jpg


Don:
Regarding my conversation with John Garrison on the GE 7FA costs.

Delivery:  '00-'01  Cost:  $36.0 MM
Delivery:  '98-'99  Cost:  $34.250 MM
Delivery:  '96-'97  Cost:  $32.0 MM
Delivery:  '95-'97  Cost:  $30.0 MM

It looks like that for every year and a half the costs go up approx. $2.0
MM.  The next available order for GE 7FA's is 3rd qtr. 2003.

Ben
3-7998


Ben,
Good speaking with you this morning.  I'll follow up with some specific
ideas when I receive your email.
Thanks,
Rosanna

Rosanna Migliaccio
Vice President
Robert Walters Associates
(212) 704-9900
Fax: (212) 704-4312
mailto:rosanna@robertwalters.com
http://www.robertwalters.com

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---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 02/15/2000
08:41 AM ---------------------------

"Network World" <Networkworld@nwwsubscribe.com> on 02/15/2000 08:36:42 AM
To: <vkamins@enron.com>
cc:
Subject: Network World E-Mail Confirmation 2/15/00

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-----Original Message-----
From: 	soblander@carrfut.com@ENRON [mailto:IMCEANOTES-soblander+40carrfut+2Ecom+40ENRON@ENRON.com]
Sent:	Wednesday, June 06, 2001 7:14 AM
To:	soblander@carrfut.com
Subject:	ALL daily charts and matrices as hot links 6/6
Importance:	High

The information contained herein is based on sources that we believe to be
reliable, but we do not represent that it is accurate or complete.  Nothing
contained herein should be considered as an offer to sell or a solicitation
of an offer to buy any financial instruments discussed herein.  Any
opinions expressed herein are solely those of the author.  As such, they
may differ in material respects from those of, or expressed or published by
on behalf of Carr Futures or its officers, directors, employees or
affiliates.  ? 2001 Carr Futures

The charts are now available on the web by clicking on the hot link(s)
contained in this email. If for any reason you are unable to receive the
charts via the web, please contact me via email and I will email the charts
to you as attachments.

Crude     http://www.carrfut.com/research/Energy1/crude23.pdf
Natural Gas     http://www.carrfut.com/research/Energy1/ngas23.pdf
Distillate     http://www.carrfut.com/research/Energy1/hoil23.pdf
Unleaded     http://www.carrfut.com/research/Energy1/unlded23.pdf

Jul/Dec Crude Spread   http://www.carrfut.com/research/Energy1/cln-clz.pdf
Aug/Dec Crude Spread   http://www.carrfut.com/research/Energy1/clq-clz.pdf

Nat Gas Strip Matrix
http://www.carrfut.com/research/Energy1/StripmatrixNG23.pdf
Nat Gas Spread Matrix
http://www.carrfut.com/research/Energy1/SpreadmatrixNG23.pdf

Crude and Products Spread Matrix
http://www.carrfut.com/research/Energy1/SpreadmatrixCL23.pdf


Jeff, here is the 2001 plan.  Sorry, I did send it to Dave D. , John S. and
you but I must have blown your address somehow.  Dave and John got theirs.

Mike


I promise I didn't forget about you tonight!

RR


looks fine to me

 -----Original Message-----
From: 	Robertson, Audrey
Sent:	Friday, September 28, 2001 8:52 AM
To:	Harris, Steven; Hass, Glen; Lokey, Teb; Huber, Lee; McConnell, Mark; Frazier, Perry; Gottsponer, Morgan
Cc:	Watson, Kimberly; Robertson, Audrey
Subject:	Pemex (MGI) Proposal

The following note is from Kim Watson:

Please review the attached proposal for Pemex (MGI) for firm transportation on Transwestern.

Please forward all comments back to Steve Harris.  We would like to send this out today, so your prompt attention would be appreciated.  I am on vacation until October 8 and Mark will not return to the office until October 1.

Steve, once all comments have been incorporated, please forward to Jorge at Pemex at his email address of jrojas@gas.pemex.com

Please feel free to call me on my cell phone to discuss (713-416-5059)

Thanks, Kim

 << File: Pemex Letter 09-27-01 TW Proposal.doc >>

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


Great.  Thanks very much, Wanda.

Best,
Jeff

	Wanda Curry/ENRON@enronXgate
	07/16/2001 05:27 PM

		 To: Jeff Dasovich/NA/Enron@Enron
		 cc: Tamara Johnson/HOU/EES@EES, Evan Hughes/HOU/EES@EES, Mary Lynne
Ruffer/HOU/EES@EES
		 Subject: RE: trying to locate PX Credit information

Jeff,

Diann Huddleson has spoken with PG&E on numerous occasions, and they have
confirmed that effective as of January 19, 2001, they began using a Weighted
Average cost of Generation/Purchase for the calculation of the PX amount.  I
will coordinate between Tamara and the Services group which has this
information and make sure everyone is on the same page.  I also support
Tamara's desire to reconcile, at a tariff level, the curves to actual utility
bills.

Thanks,
Wanda

 -----Original Message-----
From:  Dasovich, Jeff
Sent: Monday, July  16, 2001 5:00 PM
To: Curry, Wanda; Tribolet, Michael
Cc: Kingerski, Harry; Lawner, Leslie; Steffes, James; Mara, Susan
Subject: trying to locate PX Credit information

Hi Wanda/Michael.  You aware of this?  I don't recall having received
anything from PG&E.

Best,
Jeff
----- Forwarded by Jeff Dasovich/NA/Enron on 07/16/2001 04:57 PM -----

	Tamara Johnson@EES 07/16/2001 04:19 PM 	   To: JMB <JBennett@GMSSR.com>, Harry
Kingerski/Enron@EnronXGate, Jeff Dasovich/NA/Enron@Enron, Leslie
Lawner/Enron@EnronXGate, James D Steffes/NA/Enron@Enron, Diann
Huddleson/HOU/EES@EES, Mary Lynne Ruffer/HOU/EES@EES  cc:   Subject: trying
to locate PX Credit information

PG&E has changed the method of calculating the PX Credit recently.  Prior to
June they appeared to be using a market based price for power, but in June
the credit dropped to about $40/MWh which looks like utility-owned gen.

We want to make sure we are not missing a utility-levied charge in our
forward curves ( e.g. CTC charge that will be applied to DA) so we're trying
to verify the utilities' method of calculating PX credits.

I talked to the PG&E accounting person who said that their Regulatory group
has sent Enron's regulatory group information on the way the PX Credit is
calculated.  Can someone locate this information and forward it to me as soon
as possible?  Given that our customers are all switching to DA we don't want
to discover there's a charge we don't know about.

Thanks,
Tamara.


When: Wednesday, July 18, 2001 2:00 PM-3:00 PM (GMT-06:00) Central Time (US & Canada).

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