As we discussed
----- Forwarded by Steven J Kean/NA/Enron on 12/20/2000 03:00 PM -----

	"IssueAlert" <IssueAlert@scientech.com>
	12/20/2000 06:58 AM

		 To:
		 cc:
		 Subject: Exelon Completes Acquisition of 49.9 Percent of Sithe

http://www.consultrci.com

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===============================================================
SCIENTECH IssueAlert, December 20, 2000
Exelon Completes Acquisition of 49.9 Percent of Sithe
By: Will McNamara, Director, Electric Industry Analysis
===============================================================

Exelon Corporation and Sithe Energies Inc. announced the successful
completion
of Exelon's acquisition of 49.9 percent of the stock of Sithe. The remaining
50.1 percent of Sithe will be owned by Vivendi (34 percent), Marubeni Corp.
(15 percent) and Sithe Management (1 percent). Vivendi Universal retains
a blocking minority interest of 34 percent in the company and PECO Energy
(which, along with Unicom, formed Exelon Corp.) becomes Sithe's main
shareholder.
PECO has also been given a three-year commitment starting from December
2002, to buy Vivendi Universal's remaining interest.

ANALYSIS: The announcement of this acquisition was first made in August,
prior to the formation of Exelon Corp. Under the original agreement dated
Aug. 11, 2000, PECO Energy is purchasing 49.9 percent of Sithe's North
American assets, including its domestic marketing and development businesses,
for $682 million. The acquisition marks a new direction for Sithe Energies
and a continuation of an aggressive generation expansion plan on the part
of Exelon.

This divestiture by Sithe Energies signals its withdrawal from power
production.
Only two years ago, Sithe Energies was one of the largest independent power
producers in the United States, operating 43 power plants from New Jersey
to California. Sithe Energies had made a decided effort to purchase vast
generation assets in the Northeastern United States, believing that there
would be value in having critical mass in the deregulated generation market
in that region. Until last year, Sithe Energies was the primary subsidiary
of French mega-utility Vivendi, which had been creating a reputation as
an industry powerhouse due to its assets in electric energy services, thermal
energy supply, water distribution and wastewater management. Interestingly,
Vivendi did not own a gas or electric utility anywhere in the world, and
instead used Sithe Energies as the vehicle to accumulate generation assets
as its primary entry into the energy industry.

Indications that the company's strategy was changing began to surface earlier
this year. In February, Sithe Energies sold 21 power plants to Reliant
Energy for a total of $2.1 billion. The sale generated an immediate capital
gain of about $450 million for Sithe Energies, indicating that its generation
assets were bringing strong shareholder value for its investors, even if
the company appeared to be exiting the generation market.

Then, in June, Vivendi announced that it had entered into a "strategic
business combination" with Canal and The Seagram Company Ltd to form a
new company called Vivendi Universal, a communications conglomerate for
wired and wireless markets owning the world's largest music company, second
largest film library, major film production studio, and a PC-based software
game publishing company. (Note that just yesterday Vivendi Universal entered
into an agreement for the sale of Seagram's spirits and wine business to
Diageo and Pernod Ricard for $8.1 billion, subject to regulatory approvals).
Vivendi also continued to expand its significant water business, through
its subsidiaries U.S. Filter Corporation and G,n,rale des Eaux Group which
recently won water treatment contracts New Zealand and Indonesia. In a
separate development, Vivendi, supported by Sithe Energies, developed a
partnership with a company named Softbank to establish a unit called K
Road Ventures. This company represented Vivendi's strategy of creating
an Internet company specializing in B-to-B services for utilities and energy
services.

All of these developments indicated that, although Vivendi planned to remain
involved in the energy industry, its focus was no longer on building a
generation portfolio through Sithe Energies. Rather, Vivendi is building
on its role as a major player in communications and environmental services.
The subtext of this new direction for the company is probably Vivendi's
attempt to reduce the debt of its subsidiaries to a reported 11 billion
euros by the end of this year. Yet, most financial analysts agree that
the continuing divestiture of Sithe Energies marks Vivendi's complete
withdrawal
from the energy production business. Vivendi has been in the process of
spinning off a new utilities arm named Vivendi Environnment, which will
provide energy services such as equipment installation and maintenance,
as well as water and wastewater treatment. The K Road Ventures unit probably
will be operated within Vivendi Environnment; however, it appears fairly
certain that generation is no longer a part of the company's primary strategy.

According to Vivendi, this divestiture confirms the exit of Sithe North
America from the consolidation scope of Vivendi Universal. Including the
divestiture of GPU, which took place at the beginning of the year, the
transactions represent a total debt reduction of around 4 billion euros
and a net capital gain of 170 million euros in the financial statements
for 2000.

Presently across North America, Sithe Energies still owns and operates
about 27 power generation plants with approximately 3,800 MW of net merchant
generating capacity. Further divestiture of these assets is expected as
Sithe and Vivendi continue to move away from power generation. PECO (now
Exelon) and Reliant are two companies that have quickly picked up the
generation
assets divested by Sithe Energies, and has been a wise move for both
companies.
There should be a continuing high value placed on generation assets in
the Northeastern United States, particularly since competitive markets
are developing more rapidly in that region of the country. Reliant's purchase
of the Sithe Energies' 21 plants supports its strategy of acquiring
generation
assets and developing a strong retail capability.

Purchasing 49.9 percent of Sithe Energies, with the option to buy the rest
of the company in as little as two years, is also a smart move for Exelon.
The Power Generation Group (PGG) of PECO, which remains a subsidiary under
the new Exelon holding company, is the business unit responsible for managing
the fossil and hydro generating stations of the company. PGG manages a
fleet of 72 generating units that can provide 5200 megawatts (MW) of power
using a variety of fuels. These units include coal, natural gas, oil,
landfill
gas, and hydroelectric power plants. Under deregulation, this variety of
fuels is helping PECO to remain competitive and prepared to meeting the
energy needs of diverse customers. Presently, Exelon is the largest energy
company in the United States, but will trumped by the Entergy/FPL Group
combination, which is expected to close over the next year.

The addition to Exelon's generation arsenal that it gains from almost half
the shares of Sithe Energies should factor in nicely to Exelon's overall
position in the industry. Exelon estimates that the initial investment
in Sithe will contribute approximately $0.01 per share to its consolidated
earnings in 2001 and 2002. And it certainly appears that Exelon aims to
acquire the totality of Sithe's assets, based on comments coming out of
the company's headquarters. If Exelon were to purchase the remaining 50.1
percent of Sithe (as soon as two years from now), Exelon anticipates that
the transaction would contribute approximately $0.15 to its annual
consolidated
earnings. This may be just the move that Exelon has in mind as a complete
acquisition of Sithe's assets would increase Exelon's generation portfolio
to 46,500 MW, which is perhaps just what it needs to secure its place as
one of the nation's top generating companies and keep it in the running
with FPL / Entergy.
===============================================================
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As I mentioned in my voice mail, please check up on the signing bonus we
agreed to pay Tony Pryor.  He didn't get it and we need to get that fixed
asap.  I'll be at 37555 tomorrow and back in Omaha Monday.  If you learn
something tomorrow and can't get ahold of me, please leave me a voice mail.
Thanks.  DF


Will need to document a revision to the Plainview allocation.  An enhancement request with requirements, detailed as much as possible, for IT to begin understanding what the impact and estimate would be for the change.

 -----Original Message-----
From: 	Bodnar, Michael
Sent:	Wednesday, November 21, 2001 12:59 PM
To:	Kedwaii, Hasan; Medeles, Gerry
Cc:	Blair, Lynn
Subject:	FW: Plainview Allocations

Hasan &/or Gerry
I think there are some misunderstanding on what activity is included in a Plainview allocation. What needs to be done, as a 1st step, to initiate revisions to the Plainview allocation?

 -----Original Message-----
From: 	Kowalke, Terry
Sent:	Tuesday, November 06, 2001 7:08 AM
To:	Blair, Lynn; January, Steve; Spraggins, Gary; Kowalke, Terry; Buchanan, John; Matheson, Maggie
Cc:	Bodnar, Michael; Hoang, Joe; Kedwaii, Hasan
Subject:	FW: Plainview Allocations

 -----Original Message-----
From: 	Kowalke, Terry
Sent:	Monday, November 05, 2001 5:35 PM
To:	Kowalke, Terry
Subject:	RE: Plainview Allocations

1. What points make up the Permian Area? (Permian Area has 2 Groups, 19 and 20)
2. Is Plainview in the middle of the Permian Area?
3. If Plainview is the beginning or end of the Permian Area, which way is the gas flowing, North or South?
4. We have a flow capacity of 500,000 going north and south.
5. Location of any Deferred Delivery Point and Physical Receipt Point needs to be considered whether to be allocated or not depending on the way the gas is flowing.
6. The requirements need to consider all receipts and delivery locations whether upstream or downstream of Plainview and the flow of gas.

 -----Original Message-----
From: 	Medeles, Gerry
Sent:	Monday, November 05, 2001 3:04 PM
To:	Bodnar, Michael; Hoang, Joe; Kedwaii, Hasan
Cc:	Blair, Lynn; January, Steve; Spraggins, Gary; Kowalke, Terry; Buchanan, John; Matheson, Maggie
Subject:	RE: Plainview Allocations

 -----Original Message-----
From: 	Bodnar, Michael
Sent:	Monday, November 05, 2001 2:49 PM
To:	Medeles, Gerry; Hoang, Joe; Kedwaii, Hasan
Cc:	Blair, Lynn; January, Steve; Spraggins, Gary; Kowalke, Terry; Buchanan, John
Subject:	Plainview Allocations

During a Plainview allocations, the following rules should apply.

Exclude:
Transportation when receipt is in the Permian Area and the delivery is in the Permian Area (at a point other than DDP) [Medeles, Gerry]   No.
Transportation when receipt is sourced from Permian Area Storage point and re-delivery is North of Plainview [Medeles, Gerry]   No.

Include:
Transportation when receipt is in Permian Area and the delivery is a point North of Plainview [Medeles, Gerry]   No.
Transportation when receipt in Permian Area and the delivery is to Permian Area DDP [Medeles, Gerry]   No.

								(*DDP = Deferred Delivery Point)

Gerry and/or Joe.
I believe these rules are already part of the Plainview allocation. Can you verify that for me?
[Medeles, Gerry]  The only line items/nominations that are excluded from a group allocation, is gas that is received and delivered within the group.


I'm so glad you want to help!

I'll put you down as wanting to help and I'll let you know what happens with
the meeting.

The tentative dates are:
Information Session Sep 18
Interviews  Nov 8 Reception
   Nov 9 First Round, on campus
   Nov 10 Second Round, on campus

Super Saturday for Wharton folks will be the first weekend of December.

I'll definitely keep you posted.  We've had people fly from Portland before,
so it's definitely possible to get you out for events or interviews if your
schedule allows.

Suzanne

To: Suzanne Farrow/HOU/EES@EES
cc:
Subject: Re: Wharton Recruiting

Suzanne,
 I'm a '97 graduate and interested in recruiting this year. However, I'm out
in Portland, so I will be unable to attenfd any meetings in Houston. Let me
know how I can help. I would like to go out there when you go. Let me know
what our schedule is. Thanks.

Bob Badeer

503 464 3926


Dear Members of the MC, BIC, OC, and TIE List,

Attached, please find the NYISO Weekly Update.  This
Update is written jointly by Elaine Robinson and other
NYISO staff.

The NYISO Weekly Update provides a brief status report of, or
progress on, a range of issues that are under discussion at
NYISO Committee meetings or are being undertaken by NYISO
Staff.  Many, but not all, of these issues are being addressed
through the NYISO Committee structure.

Market participants may raise any comments or questions on
items covered in the Update through the Committee structure,
or directly to Elaine Robinson (erobinson@nyiso.com).

You can find prior editions of the Weekly Update on the
"NYISO Committees" page of the NYISO web site:
http://www.nyiso.com ---> Services ---> Committees ---> Weekly Update

or by clicking on the following link:
http://www.nyiso.com/services/documents/groups/weekly_updates/wkly_updates.html

(See attached file: Weekly092101b.pdf)

 - Weekly092101b.pdf


Leesa,

I wanted to confirm that I will be walking in the Heart walk on November 3rd.  I'm working on collecting those pledges.  I hoping that it is kosher to hit up family members for pledges.

Mary


For your approval,

Eklavya.


Why am I being used as a bargaining piece in this saga?  The thing that
really scares me, is if I show up I am sure I will be selected to be on next
years Family Reunion Committee.  Hmmm.

Okay, I guess I can make the sacrifice.  I believe I will have a 3 day
weekend at that time.  Should work out.  I think the cocktail party on June
23 will work out.  I have got a lot of things going on right now that would
make it tough to get away right now for the 13th.

Talked to Mom about the flyfishing.  Sounds like they aren't sure what they
really want to do.  They are supposed to get back to me.  You know Mom,
avoid the things that intimidate you.

Anyway,  hope everything is going well for you and with the wedding plans.
Talk to you later.

Sharon Nemec <snemec@shelton.org> on 05/02/2000 09:26:18 AM
To: Gerald Nemec/HOU/ECT@ECT
cc:
Subject: Nemec reunion on July 1

Will has made the statement that he will only go if you go.  I know that is
a lot of pressure, but will you please come to the reunion?  We can drink
and polka to the oldies.  I want Will to get a taste of our past and feel
sorry for me.  So are you in?

How are the family plans for the wedding going? Are they driving you crazy?
Also, can you come to the BBQ on the 13 or the cocktail party on June 23.
Mom and Dad are coming for the BBQ.  If you want, come up then.  I want to
see you soon.  Love ya!!

Sharon Nemec
snemec@shelton.org


The report named: West NG Prices - Basis <http://trv.corp.enron.com/linkFromExcel.asp?report_cd=45&report_name=West+NG+Prices+-+Basis&category_cd=2&category_name=WEST&toc_hide=1&sTV1=2&TV1Exp=Y&current_efct_date=11/27/2001>, published as of 11/27/2001 is now available for viewing on the website.


Nick:    If possible, I would like to set up a conference call tonight w/ you
and Steve.  Steve is traveling to DC today, so it would be 9:00pm (Eastern),
8:00 pm (Central).  I think that's 10:00 am your time???  I will also call
and leave you a voicemail message.  Please let me know if that will work for
you and I will have Steve call you then.

For your information:
here is a coy of the presentation that Steve gave last time he was in Japan.

Please see the attached presentation.


fyi.
---------------------- Forwarded by Lloyd Will/HOU/ECT on 03/05/2001 07:28 AM
---------------------------

"will lloyd" <lwill@houston.rr.com> on 03/04/2001 08:12:37 PM
To: <lloyd.will@enron.com>
cc:
Subject: meam

Delta  Development

	February, 1999  Issue

	Meam dispute reflects more issues than  money

	BY NANCY cotten HIRST
	Contributing Editor, Delta Business Journal

	On the surface, the dispute between the Municipal Energy Agency of
Mississippi (MEAM) and the Clarksdale/Yazoo City alliance appears to be
about money and contracts. Yazoo City and Clarksdale say they are pulling
out of the eight-city energy-supply association because they can provide
power to their cities less expensively on their own.

	MEAM says that they have the right to do this, but only in accordance  with
the original MEAM contract, which specifies that an entity can only  withdraw
from the agency on condition of five years, written notice. This  provision
is typical of this type contract and lends a degree of stability  to a
coalition of political bodies.

	Complicating the matter is the fact the MEAM has financed the upgrading  of
the generating facilities at Yazoo City and Clarksdale. The total  project
upgraded three frame-five gas turbines and added three waste heat  recovery
steam generators and cost in excess of $10 million. Part of this  project was
paid for by MEAM revenues and the rest by a $5 million 1994  bond issue.

	The Greenwood generating facility was also part of this project, but
Greenwood elected to pay out of other resources rather than participate in
the bond issue. This leaves seven cities responsible for the bond issue  and
dependent on the generating capacity of the two cities for a portion  of
their electrical power supply.

	MEAM also purchases power from other resources to supplement the  generating
capacity of Yazoo City, Clarksdale and Greenwood. SEPA, Cajun  Electric
Cooperative, Oklahoma Gas and Electric and Entergy Services, Inc.  are among
recent suppliers with Entergy holding the largest contracts.

	The exit of Yazoo City and Clarksdale from MEAM would hurt the  organization
not only in loss of generating power but also in the loss of  volume
purchasing power from other supplies. This type loss is one of the  reasons
for a five-year notice in the original contract. The other cities  involved
in MEAM would be given time to deal with the adverse impact.

	Clarksdale and Yazoo City, however, say that MEAM has broken its  contract
with them. The two cities plan to form their own alliance to take  advantage
of the savings that they perceive to be available in the  deregulated
wholesale energy market. They also plan to buy out the bond  issue obligation
from MEAM and finance it through revenue bond issues of  their own.

	At this point the story breaks down into two other issues. One is a  very
legitimate difference in style of operation and management between  MEAM and
the two cities. The other is a rather obvious problem with power,
personality and disgruntlement.

	Neil Davis, General Manager for MEAM, admits to being conservative in  his
management style. "I,m the first to say we,re not where we,d like to  be
costwise," Davis says, "but we know that we,ve controlled and lowered  costs
over the years. We,re very competitive and have the lowest costs in  the area.

	"Entergy views MEAM as a good wholesale customer and they do all they  can to
work with us. We have a good track record with them. We are moving
cautiously. We,re not going to abandon a good relationship unless we are
sure it will improve our circumstances. We look at the end of the year,  not
each transaction," Davis continues.

	"Entergy provides a load-following service that keeps the load balanced  and
has energy follow demand on an instantaneous basis. Our facilities are  not
equipped to do this. We know Entergy can and will do this and we don,t  have
the track record with other suppliers."

	Bob Priest, General Manager of the Yazoo City Public Service  Commission, is
much more daring in his approach. "You have to take a risk  from time to
time," he says. "MEAM hasn,t changed in the last ten years,  and the utility
industry has changed drastically."

	Public Service and other officials from both Clarksdale and Yazoo City  are
furious about the new contract with ESI. Both cities would prefer not  to do
business with Entergy at all, an attitude that has little or nothing  to do
with MEAM. Both parties admit that there have been divisive issues  for three
or four years, but the recent contract seems to have been the  straw that
broke the camel,s back.

	Sources who prefer to remain unnamed say that there are other problems.
Various people are angry at staff for various personal reason. Others see  a
conflict of interest in Public Service professionals being on the Board,
which was designed as a citizen review entity. They say it puts them in  the
position of being able to review their own performance. Comments from  people
from the unhappy cities, including their attorney,s presentation to  the
Board, contain thinly veiled accusations of wrongdoing that border on
character assassination.

	As accusations and recriminations fly, many in the Delta are  disappointed in
a situation that is likely to bring harm to all eight  cities. If the cities
do successfully pull out of MEAM, it will be  interesting to see if, as in
Aesop,s fable, the hare or the tortoise wins  the race. DBJ


Today we announced the appointment of Jeff McMahon as Enron's chief financial officer.  In my continued discussions with the financial community yesterday and today, it became clear that this move was required to restore investor confidence.  Jeff has unparalleled qualifications and a deep and thorough understanding of Enron.  He is already on the job and hard at work on the issues before us.  Andy Fastow will be on a leave of absence from the company.

Jeff had been serving as chairman and CEO of Enron Industrial Markets. He joined Enron in 1994 and spent three years in the London office as chief financial officer for Enron's European operations.  Upon returning to the U.S., Jeff was executive vice president of finance and treasurer for Enron Corp.  In 2000, he was named president and chief operating officer of Enron Net Works.

I know all of you are concerned about the continuing decline in our share price.  I am too, and we are working very hard to turn it around.  Appointing Jeff as CFO is one important step in that process.  But most of the solution involves just continuing to do our jobs with excellence.  The fundamentals of our business are strong, and I think the market will begin to see that as we continue to perform.

Please join me in giving Jeff your full support, and thank you for all of your continued hard work.


Matthew, would your Monday meeting be a good time (if the time change works)
for me to introduce myself and say a few words via video conference or the
like to your organization?

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 02/09/2001
09:01 AM ---------------------------

Matthew Scrimshaw
02/09/2001 03:04 AM
To: Enron London EES Group
cc: John Sherriff/LON/ECT@ECT, Michael R Brown/LON/ECT@ECT, David W
Delainey/HOU/ECT@ECT, Janet R Dietrich/HOU/ECT@ECT, Dan Leff/HOU/EES@EES,
Marty Sunde/HOU/EES@EES, Richard Lewis/LON/ECT@ECT
Subject: EES Europe - Outsourcing Reorganisation

Introduction

EES has been operating in Europe since late 1999 and in that time a lot of
progress has been made.  The teams who have worked on Outsourcing in Europe
have learnt a tremendous amount over the last year.  We now have a much
clearer idea of what should work today in the different jurisdictions that
comprise Europe and those elements of our offering with which customers are
most comfortable.

The phenomenally strong financial performance in 2000 of Enron Direct and
ETOL graphically demonstrate the future potential in Europe for a broad
retail energy business.  With Enron's retail energy presence in Europe firmly
established, we are restructuring our Outsourcing product offering and the
organisation to develop and deliver it, so that we broaden our activities and
successfully grow our earnings in line with shareholder expectations.

We now have a renewed focus in 2001.  The emphasis will be to work on only
the largest deals (by energy commodity spend) in those markets where we
already have a robust wholesale energy business and there is regulated and
economic third party access to retail power distribution systems.  The main
thrust of our offering will be commodity and Demand Side Management (DSM)
projects and our associated price risk management capabilities.  Commodity is
Enron's core competence and one where Enron should be in a position to
generate sizeable gross margin at closure.  DSM projects are also important
as they will deliver gross margin and are what differentiate us from the
commodity competition.  We will be focussing on shorter project lead times at
the front of a deal to ensure that we get to closure promptly - we need to
see 80% of the value in 20% of the time.  Whilst we retain an understanding
of O&M, this will not form part of our core offering and we will only
consider involvement in an O&M capacity on attractive margin transactions
where it is essential to the customer.  As the business develops it is likely
that, to some extent, we will build the necessary O&M delivery capability to
enhance the product offering in the future.

In those markets where we have limited wholesale capability or the third
party access to power distribution systems is not feasible in a retail
context, we will build and develop Utility Representation Services (URS) in
conjunction with a DSM project offering.  This knowledge based business will
allow us to develop retail customer networks in advance of economic system
access and also provide valuable market information back to the wholesale
business.  URS is ERPAG's core business and gives us a tremendous platform to
create a pan European URS competence.

Expertise in Supply Side Management has increasingly become an issue for the
origination team in EES Europe as we have begun to get into material deal
development.  Whilst it is vital that we remain totally coordinated with the
wholesale business for price risk management services, there will be a
renewed emphasis within EES Europe to develop those commodity skills that do
not reside in the wholesale business to allow us to promptly and effectively
price and structure retail commodity transactions to the delivery point.

Given the renewed focus outlined above, we have taken the opportunity to
streamline the Account Delivery and Management team, typically redeploying
staff where they can immediately support the development of new business for
EES Europe.  Effective Account Management remains a key capability for EES
and as we close deals with customers we will review our staffing need in this
area.

Organisation

After eighteen months working on establishing the outsourcing business in
Europe, Ron Bertasi has decided to transition back to the US during the first
half of 2001.  In the short term he will complete the Trillium property deal
and ensure that the energy and property deals are both successfully
launched.  I would like to take this opportunity to thank Ron, on behalf of
everyone in Europe, for all his hard work over the last eighteen months in
establishing the European Outsourcing business and in particular his
leadership on the Trillium deal which represents a substantial landmark for
the business.

Stuart Rexrode is now head of European Energy Services Outsourcing.  Stuart
will continue in a customer facing capacity as a lead originator, whilst
ensuring that all of the dimensions that comprise the Outsourcing team remain
appropriately focussed.  Bob Manasse will head up the origination team and
ensure that the deal pipeline remains full of substantial good quality
prospects.

Hala Tayyarah has been promoted to Manager within the Commodity team and will
provide commodity pricing support to the origination team.  Hala will report
to Peter Redpath until such time as a head of Supply Side Management is
appointed.

Reporting to Peter Redpath, Peter Ramgolam will lead a new activity,
Transaction Economics, supporting Origination by developing cashflow models
to determine deal economics, identify improvements to structures to optimise
value and capture transactions for risk management purposes.

Also reporting to Peter Redpath, John Parker will lead the implementation of
a Position Management activity.

The attached organisation charts show these changes in the revised structure
of EES Europe which is effective immediately.  Whilst these charts are
relatively self explanatory for the levels shown, there will be detailed
discussions over the next day or so to explain what the changes mean for
individuals.  Where boxes are labelled TBA, we hope to make appointments in
the near future.

At 10.30am on Monday 12th February we shall be holding a one hour EES-Europe
all employee meeting in the Auditorium in place of the usual weekly staff
meeting.  At this session we will talk about the 2001 Earnings Plan and
provide clarity on the deal process for Outsourcing and the reasoning behind
it.  Also, it will be an opportunity for you to raise any questions you may
have.  I look forward to seeing you there.

Matthew


After much success last year with our AskWhy advertising campaign and Public Relations efforts, Enron continues to explore new ways to exponentially increase its' brand awareness not only through television, but also by exploring new mediums. One approach is through customer relationship marketing (CRM), where we will seek opportunities that allow our commercial teams to directly interact with important CXOs and existing customers.

To this end, we are proud to announce our participation in the Frank Gehry Architect Exhibition at the Guggenheim Museum in New York City, which will be open to the public from May 18 through August 31.  Frank Gehry is a world-renowned architect who has designed the unique building at the end of our "Ode to Why" commercial and his art dominates skylines around the world. With this exhibition, Gehry's evolving genius comes to life.  For years, his inspiration has long been hidden in sketches and models unseen by anyone but his closest collaborators. By challenging the conventional, he has redefined his industry just as Enron has in business. Through Enron's association with this world-class exhibit, we will subtly push our brand attributes forward, as we strive to be the "Leading Company in the World."

All employees are invited to visit this exhibition FREE OF CHARGE with an Enron ID Badge beginning May 18. For more details, please visit home.enron.com.


I did not know that Greg was speaking to her.  He is out till next week and I
will follow-up at that time.  I did receive a voice message from her some
time back regarding the same thing, althoug I do not remember the topics
being trading contracts or e-trading. In any event, after considering the
time and effort involved (noting Insight usually requires some form of paper
to be prepared), any potential value, the commercial requirement for our
resources, and after discussing it with Milnthorp, I decided not to get
involved.  If we think it is worthwhile I am open to persuausion.  Regards,
Peter.


appears as though the time to get in was last wednesday and everybody already
missed their chance to get out

"Pesot, Jeff" <jeff.pesot@verso.com> on 11/28/2000 02:33:21 PM
To: "'jarnold@enron.com'" <jarnold@enron.com>
cc:
Subject:

   thursday 6 PM   Ruggles on main.
   Is it time to get into etoys?

Jeff Pesot
Verso Technologies
(212) 792-4094 - office
(917) 744-6512 - mobile

mail to : jeff.pesot@verso.com
       www.verso.com


Yes.  Thanks.  DF

	From:  Paul Cherry                           06/01/2000 04:27 PM

To: Drew Fossum/ET&S/Enron@ENRON
cc:

Subject: Re: Augie

 Drew,

 I will be there. Will it be in your office?

 Paul

	From:  Drew Fossum                           06/01/2000 04:21 PM

To: Kent Miller/ET&S/Enron@ENRON, Dari Dornan/ET&S/Enron@ENRON, Paul
Cherry/GPGFIN/Enron@ENRON, Ted Chavez/GPGFIN/Enron@ENRON
cc:

Subject: Augie

Augie Shouse of V&E is coming over here at 3 tomorrow.  Dari, I'll dial you
in.  Kent--do you want to be involved?  Paul, could you and Ted join us at 3
to talk about the credit/guarantee issues?  Hopefully we'll know more by then
about where TCEM is coming from.  DF


John D. Martin
Carr P. Collins Chair in Finance
Baylor University, Finance Department
PO Box 98004
Waco, TX 76798
Phone: (254) 710 4473 (o) 4474 (sec)
 (254) 757 0852 (Home)
Fax  : (254) 710 1092 (Fax)
J_Martin@Baylor.edu
http://hsb.baylor.edu/html/martinj/home.html


Rob,

After reviewing the current status of United States Gypsum Company and Transwestern's status as a creditor of Administrative Claims, we will not proceed in seeking the additional $455,300 letter of credit (worth approximately 8 months of reservation charges).  The current letter of credit valued at $227,650 is sufficient.

Also, our timing for the completion of the Red Rock Expansion that will make this capacity available is still on schedule for June 1, 2002.  In our latest discussions with SOCAL, they have indicated that their expansion of the SOCAL Needles delivery point will be completed by that time.  It would probably be best for you to discuss this with them yourself to verify its availability completely and thoroughly.

Please call me if you have any additional questions.

Best regards,

      Mark

Mark McConnell
Transwestern Pipeline Company
713-345-7896   office
713-822-4862   cell
713-646-2551   fax
mark.mcconnell@enron.com


When you get all your tax stuff together we can work on it.  We especially need your stock sales and purchase data and the 1099 forms your broker will send you.


Dan,
As we discussed.

I am not sure what my new e-mail address is going to be - during the AEP
setup my name was mispelled (easy to understand).  I'll give you the address
as soon as I get it fixed.  In the meantime, if you send out paper would you
please hard copy me at  1201 Louisiana, Suite 1520, Houston 77002.

Thanks,
Greg
---------------------- Forwarded by Greg Brazaitis/HOU/ECT on 06/01/2001
03:38 PM ---------------------------
From: Janet H Wallis/ENRON@enronXgate on 05/25/2001 12:59 PM
To: Edward D Gottlob/HOU/ECT@ECT, Greg Brazaitis/HOU/ECT@ECT
cc: "Michele Bennett (E-mail)"
<michele_m_bennett@reliantenergy.com>@SMTP@enronXgate
Subject: Clark meter 1511

Seller:  HPL R
Buyer:  Entex Gas Resources
Location: Clark meter 1511
Date:  June 2001
Volume: 5,000 a day
Price:  HSC -.015
Final price with swap pay out of 208,875 equates to:

HSC minus   -  .015 (location diff)
  -1.3925 (swap value)

  -1.4075

HSC minus $1.4075 = final price.

Ed, would you please put this in your system, I won't do a deal ticket for
obvious reasons. Greg, you will need to get with legal to get a contract to
Entex.  We do have an Enfolio in place.

Thanks all,
Janet


-----Original Message-----
From: 	Legler, Michael J.
Sent:	Monday, November 12, 2001 4:43 PM
To:	Schwieger, Jim; Gomez, Julie A.; Meyer, Chris
Subject:	FW: Enron Board of Directors

>
>
>
>  - Enron Board of Directors.pps <<Enron Board of Directors.pps>>
>
>
 - Enron Board of Directors.pps


For your information.  Please get with Geoff and Credit to see where we need
to go.  Thanks, Jeff
---------------------- Forwarded by Jeffrey T Hodge/HOU/ECT on 05/10/99 01:35
PM ---------------------------

Geoff Storey
05/05/99 04:18 PM
To: Jeffrey T Hodge/HOU/ECT@ECT
cc:
Subject:


Bryce,

These deals have been corrected.  The triggers and demand charges have been removed.  Deal #1005851 did have gas flow and I believe should still be settled unless someone says otherwise.

Thanks

Kam

 -----Original Message-----
From: 	Baxter, Bryce
Sent:	Monday, January 07, 2002 12:41 PM
To:	Keiser, Kam; Palmer, B. Scott; Love, Phillip M.
Subject:	Questionable Deals

I am reviewing the accrual, and have found a number of deals so far that look like they were terminated, but the demand charges/triggers are still in Sitara.  Should these be zeroed out as well, or are we really supposed to bill them?  I haven't made it through the whole list, but here's what I've seen so far that I'm questioning.  Please let me know today if possible.  Also, if I've left anyone off that needs to see this, please let me know.  Thanks.
 << File: Accrual200112.xls >>


just as you said,  the only thing we get is a recording.  I did e-mail the
revisions to the Agreement as well.  do you have the name of another contact
?  or you can leave a message that we will cut them off if there is not
response in x# of days?

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


Actually, we realized that RMT is not going to be in the chain of
contribution and are revising the ENA and ERMT LLC resolutions to reflect
that (as well as the issuance of the Class A Units), so we will circulate
revised consents shortly - sorry for any inconvenience.

**********NOTE**********
The information contained in this email message is intended only
for use of the individual or entity named above.  If the reader
of this message is not the intended recipient, or the employee or
agent responsible to deliver it to the intended recipient, you
are hereby notified that any dissemination, distribution or
copying of this communication is strictly prohibited.  If you
have received this communication in error, please immediately
notify us by telephone (214-746-7700), and destroy the original
message. Thank you.


-----Original Message-----
From: 	Simmons, Linda J.
Sent:	Tuesday, November 06, 2001 12:03 PM
To:	Tribolet, Michael
Subject:	2:00 pm conference call today

Dial in 800/998-2462, code 5659536

Linda Simmons
Enron - Legal
1400 Smith St., EB3833A
Houston, Texas  77002
Tel:  (713) 345-7851
Fax: (713) 646-3393
E-mail:  linda.j.simmons@enron.com


OK but this is a tree and I want to focus on the forest. A few facts on this may be helpful to understand the forest. Also, be sure to coordinate with Ted on London stuff. Tx Rick

 -----Original Message-----
From: 	Curry, Wanda
Sent:	Wednesday, July 18, 2001 11:52 AM
To:	Port, David
Cc:	Buy, Rick
Subject:	RE: Enron Metals Operational Risk

David and Rick,

I am following up with people in London to gain a better understanding of the cause of this operational loss.  I have been assured that several process changes have been implemented to correct the underlying problem, but I will also get enough additional details to make my own assessment.

Thanks,
Wanda

 -----Original Message-----
From: 	Port, David
Sent:	Tuesday, July  17, 2001 8:17 AM
To:	Curry, Wanda
Cc:	Buy, Rick
Subject:	Enron Metals Operational Risk

Fyi - Enron Metals gets fined - one cost of unharnessed operational risk....

http://biz.yahoo.com/rf/010717/l17522074.html


This is wonderful - thanks for the memories!  Love ya!


Just thought you would want to know this feedback.

----- Forwarded by Linda Robertson/NA/Enron on 06/19/2001 01:59 PM -----

	Christi L Nicolay@ECT
	06/19/2001 09:38 AM

		 To: Ray Alvarez/NA/Enron@ENRON
		 cc: Linda Robertson/NA/Enron@ENRON, Sarah Novosel/Corp/Enron@ENRON, James D
Steffes/NA/Enron@Enron
		 Subject: Way to go!

Ray -- Phillip Allen said that you had called him this am about the Cal order
and he thinks that he is getting better info from our Washington office and
appreciates the efforts.  Keep it up!  Thanks.


This request has been pending your approval for  116 days.  Please click http://itcapps.corp.enron.com/srrs/auth/emailLink.asp?ID=000000000041547&Page=Approval to review and act upon this request.

Request ID          : 000000000041547
Request Create Date : 6/19/01 7:50:30 AM
Requested For       : jaime.gualy@enron.com
Resource Name       : \\nahoutrd\houston\pwr\common\power2\Region - [Read]
Resource Type       : Directory


Doug and Rob--- I left a voicemail for Bob Williams that I thought  Jim
McCartney would be good. Jim is an outside atty who consults with me and Bob
on complex litigation. He would be a perfect nuetral arbitrator.


I found out where the retail number is coming from. You are picking up an EES West portfolio which is incorrect. That is our test env't only and not in production.

John

 -----Original Message-----
From: 	Postlethwaite, John
Sent:	Friday, October 26, 2001 2:30 PM
To:	Trevino, Susan
Subject:	RE: 10/25 Power Export Tab Information

Could you tell me where you are getting the retail west numbers from.

John

 -----Original Message-----
From: 	Trevino, Susan
Sent:	Friday, October 26, 2001 1:54 PM
To:	Abel, Chris; Allison, John; Chapman, Tom; Dahlke, Andrea; Davenport, Lacrecia; Evans, Casey; Hayden, Frank; Jackson, Jeffrey; Loibl, Kori; Luc, Albert; Patton, David; Postlethwaite, John; Reeves, Kathy; Thibodeaux, Kenneth; Vinson, Donald Wayne; Wallace, Cassi; White, Stacey W.
Cc:	Considine, Keith; McClure, Zakiyyah; Velasco, Jennifer; Victorio, Tom
Subject:	10/25 Power Export Tab Information

Please see the power export tab information to see the positions and maturity gap numbers being exported to the DPR.  In case you need to see further detail, I have saved the power bench report under O:Dropbox, PWRB_1025_PWR_V@R_NEW.xls.  I will save the power bench report under the dropbox on a daily basis.  Please contact me if you have any questions.

Thank you,
Susan
x3-1462

 << File: PowerExportTab - Publish.xls >>


u see letter from barry goode to u re: lawsuits NOT on table?  jeff


-----Original Message-----
From: 	O'Rourke, Ryan
Sent:	Tuesday, November 06, 2001 2:24 PM
To:	Allen, Phillip K.; Alonso, Tom; Badeer, Robert; Bass, Eric; Belden, Tim; Bike, Anne; Clark, Chad; Cowan, Mike; Dorland, Chris; Ermis, Frank; Foster, Chris H.; Gay, Randall L.; Grigsby, Mike; Heu, Mog; Holst, Keith; Huang, Jason; Kuykendall, Tori; Lenhart, Matthew; Lucci, Paul T.; Mallory, Chris; Martin, Thomas A.; Miller, Stephanie; Motley, Matt; Reitmeyer, Jay; Scott, Susan M.; Smith, Matt; South, Steven P.; Swerzbin, Mike; Tholt, Jane M.; Tycholiz, Barry; Ward, Kim S (Houston); Whitt, Mark; Wolfe, Jason
Subject:	West NatGas Prices 1106


Gerald:  This message was in my draft folder for some reason.  Hope you haven't been waiting for it.

Gerald:  Nothing with or pertaining to either party to the best of my knowledge
	Kay

 -----Original Message-----
From: 	Nemec, Gerald
Sent:	Tuesday, July 03, 2001 3:11 PM
To:	Young, Kay
Subject:	CA Data Sheets

Kay,  Please see attached.

 << File: EnergyTranser.doc >>  << File: PowerPipeline.doc >>


Our next Vision and Values Meeting is scheduled for Wednesday, April 19 from
9 a.m. until noon in 46c1.  The agenda for the meeting is attached.

See you on Wednesday!

Gina


thx.

Please send an update (this afternoon or in the morning).

 -----Original Message-----
From: 	Bailey, Susan
Sent:	Tuesday, March 05, 2002 3:49 PM
To:	Dicarlo, Louis
Cc:	Shackleton, Sara
Subject:	FW: Contract Type Request

Louis,

I will include the "Contract Type" on the Demand Log for each of the counterparties listed below.

Susan
 -----Original Message-----
From: 	Shackleton, Sara
Sent:	Tuesday, March 05, 2002 11:15 AM
To:	Bailey, Susan
Subject:	FW: Contract Type Request

fyi

 -----Original Message-----
From: 	Dicarlo, Louis
Sent:	Tuesday, March 05, 2002 9:35 AM
To:	Shackleton, Sara
Cc:	Bridges, Michael; Garza, Maria
Subject:	Contract Type Request

We are attempting to complete the missing information on our spreadsheet.  To that end, below are live CPs that have been reviewed for the purpose of sending demand letters.  However, because they are live we cannot determine what type of contract they have.  (Our source for this information has been the Master Terminated Log.  These CPs are obviously not included therein.)

Please provide next to each CP below the contract type.

COUNTERPARTY:				CONTRACT TYPE
Texaco Natural Gas Inc.
Select Energy, Inc.
Nevada Power Company
Johns Manville International, Inc
Stone Energy Corporation
Clinton Energy Management Services, Inc
Florida Power Corporation
Imperial Holly Corporation
Old World Industries, Inc.
Rochester Gas & Electric Corporation
Navajo Refining Company
Coast Energy Group, a division of Cornerstone
Cross Oil Refining & Marketing, Inc.
Kern Oil & Refining Co.
U.S. Brick Company
Municipal Gas Authority Of Florida
TRC Operating Company, Inc.
Lauscha Fiber International Corp.
Whirlpool Corporation
Central Illinois Light Company
EOTT Energy Partners LP
Tri-State Generation and Transmission Association, Inc.
Scana Energy Marketing, Inc.
AIG Commodity Arbitrage Fund Limited
AIG Commodity Arbitrage Fund LP
TotalFinaElf Gas & Power North America, Inc.

Thank you for your support.

Louis R. DiCarlo
ENA Gas Structuring
Phone: 713-345-4666
Email: louis.dicarlo@enron.com


teresa,

please look at this final draft - after you look over, i will fax to jay.

joan

 -----Original Message-----
From:  Hyvl, Dan
Sent: Wednesday, April 18, 2001 2:00 PM
To: Otto, Charles
Cc: Bushman, Teresa; Quick, Joan
Subject: Hunt and St. Mary's Letter Agreements

Charlie,
 I have modified both documents based on Joan's comments.  I trust that you
will get them distributed to the proper parties.


Please advise, at your earliest convenience, of tentative or confirmed plans
for vacation during the holiday season, Nov & Dec,  which may not appear on
the attached calendar.

taffy


I just wanted to thank goose and maverick for getting us back to chicago in one piece.

 -----Original Message-----
From: 	Crowell, Scott
Sent:	Monday, November 05, 2001 11:01 AM
To:	Giron, Darron C.; Fascetti, Lee
Cc:	Love, Phillip M.; 'carlos.giron@psiusa.com'
Subject:	RE: Memories.......

Cocktails and Dreams.

 -----Original Message-----
From: 	Giron, Darron C.
Sent:	Monday, November 05, 2001 11:00 AM
To:	Fascetti, Lee; Crowell, Scott
Cc:	Love, Phillip M.; 'carlos.giron@psiusa.com'
Subject:	FW: Memories.......

Carlos sent this.  I don't think you two got it.  The bartender may want to pay close attention to the FYI attachment....particularly, under the "Intoxicating Liquors" section.  Enjoy.

DG

 -----Original Message-----
From: 	"Carlos Giron" <Carlos.Giron@psiusa.com>@ENRON
Sent:	Monday, November 05, 2001 10:45 AM
To:	Giron, Darron C.; Love, Phillip M.; enron.com#c#lee#c#fascetti@psiusa.com; enron.com#c#scott#c#crowell@psiusa.com
Subject:	Memories.......

Guys,
I had an incredibly fun time...just wish we could have made that phenomenal Bears game!!  Though ya'll might get a kick out of these photos.  The FYI attachment is for the bartender, the fucking fucks is for everyone's appreciation.  Enjoy and stay in touch!

Carlos D. Giron
Environmental Professional

Professional Service Industries, Inc.
121 Brookhollow Esplande
New Orleans, LA 70123
Email:carlos.giron@psiusa.com
Phone: 504.734.9335
Fax: 504.733.8161
Cell: 504.452.3130

 - FYI.jpg << File: FYI.jpg >>
 - Fucking Fucks.jpg << File: Fucking Fucks.jpg >>


Looks good. I would call him before you send it.

	"Fergus, Gary S." <GFergus@brobeck.com>
	04/16/2001 05:22 PM

		 To: "'richard.b.sanders@enron.com'" <richard.b.sanders@enron.com>
		 cc:
		 Subject: Conflict Waiver Letter

FYI.
Thanks.
Gary

 <<Al Alexanderson's conflict waiver letter.DOC>>

=======================================================
This email message is for the sole use of the intended recipient(s) and may
contain confidential and privileged information. Any unauthorized review,
use, disclosure or distribution is prohibited. If you are not the intended
recipient, please contact the sender by reply email and destroy all copies of
the original message.

To reply to our email administrator directly, send an email to
postmaster@brobeck.com
BROBECK PHLEGER & HARRISON LLP
http://www.brobeck.com

 - Al Alexanderson's conflict waiver letter.DOC


Start Date: 4/17/01; HourAhead hour: 11;  No ancillary schedules awarded.
Variances detected.
Variances detected in Energy Import/Export schedule.
Variances detected in Load schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001041711.txt

---- Energy Import/Export Schedule ----
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 11 / Preferred:  12.00 / Final:  11.98)
  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 4/17/01
  TIE_POINT: PVERDE_5_DEVERS
  INTERCHG_ID: EPMI_CISO_ERNIE
  ENGY_TYPE: WHEEL

---- Load Schedule ----
$$$ Variance found in table tblLoads.
     Details: (Hour: 11 / Preferred:  50.79 / Final:  50.76)
  TRANS_TYPE: FINAL
  LOAD_ID: PGE3
  MKT_TYPE: 2
  TRANS_DATE: 4/17/01
  SC_ID: EPMI


This is the most immediate response that I have ever gotten on notes mail!
Just let me know and I will be there.  Thanks.

John Paskin
01/14/2000 11:07 AM
To: Sally Beck/HOU/ECT@ECT
cc:
Subject: Re: update to ENA on Europe go-live

Sally

I don't know yet - I'll try and find out who is organising the VC from the
Houston end

cheers

John

	Enron Capital & Trade Resources Corp.

	From:  Sally Beck                           14/01/2000 17:06

To: John Paskin/LON/ECT@ECT
cc:

Subject: Re: update to ENA on Europe go-live

Thanks for the note about the video conference.  I have put that date on my
calendar and I am very interested in the discussion.  Any details on where I
need to go in Houston to join in?  --Sally

John Paskin
01/14/2000 03:43 AM
To: Sally Beck/HOU/ECT@ECT
cc: Ann-Louise Pearce/LON/ECT@ECT
Subject: update to ENA on Europe go-live

Sally

We are running a videoconference between London and Houston on Thursday 27th
Jan at 9am CST/3pm GMT.  The topic of the meeting is 'Lessons Learned by
Enron Europe about the SAP Apollo implementation'.  Attendees including
Philippe Bibi, Cindy Morrow, Mark Pickering, Ian Sloman.   You are more than
welcome to attend if you would like

cheers

John

---------------------- Forwarded by John Paskin/LON/ECT on 14/01/2000 09:40
---------------------------

Melissa Becker@ENRON
12/01/2000 20:13
To: Ian Sloman/LON/ECT@ECT, John Paskin/LON/ECT@ECT
cc:

Subject: update to ENA on Europe go-live

Is Sally Beck invited to your videoconference?  Woul dthis be useful for
her?  i am interested in understanding more about your comment that "barriers
dissolving between settlements, cash, and accounting teams", and I imagine
she would be too.


In addition to the EES length in NP-15 for 04-20, we also have ST-CALI length
in PGE3 for 04_20 and 04_21.  ST-CALI is 40 mws long in PGE 3 on peak
beginning HE 7.  We will sell this energy off under ST-CALI's book and figure
out a cost basis later.

Thanks.
Bill


Please attend

 -----Original Message-----
From: 	Heard, Marie
Sent:	Monday, October 29, 2001 3:16 PM
To:	Sayre, Frank; Shackleton, Sara; Gray, Barbara N.; Koehler, Anne C.; Hendry, Brent; Murphy, Harlan; Portz, David; Hodge, Jeffrey T.; Nemec, Gerald; Sole III, Carlos; Dickson, Stacy E.; Leite, Francisco Pinto; Davis, Angela
Cc:	Cook, Mary
Subject:	Meeting regarding Master Netting Agreements

Mary Cook has requested that you attend a meeting tomorrow morning (Tuesday, October 30) from 10:00 to 11:00 in EB38C2  to discuss master netting agreements.  The directive Mary has presently been given is that we will be preparing various master netting agreements and she would like to solicit as much additional help as she can.  If the directive changes before the meeting tomorrow, we will advise everyone.

Please review the below attachments prior to the meeting if your schedule allows.

Thanks!

Marie


TD{FONT-SIZE: 10pt; COLOR: black; BACKGROUND-COLOR: white}
[IMAGE]

Now that you have access to the following applications without requiring VPN access...  Outlook Web Access (email and calendar) PEP XMS (Expense Reporting application)  And, COMING SOON... eHROnline (year-end) Benefits Election (Oct. 29, 2001) Electronic Pay Stubs (year-end), and Much More,  through the ClickAtHome Portal and the Internet, do you still believe you need remote access through VPN from home to Enron networks (must have a valid business reason with supervisor approval and a monthly cost)?   YES NO NOT SURE Please answer this survey from your computer at work, not via Outlook Web Access.


Dear Joe,  On Monday, the Washington bureau will follow up on the President's new push for energy legislation in Congress.  Washington Bureau Chief Peter Cook says on Friday, we heard some of the President's strongest language to date, urging Democrats in the Senate to bring a bill to the floor.    There are also several energy hearings scheduled in Congress next week, including one on possible new limits on power plant emissions in the Senate and another on MTBE in the House. The hearings are some of the first to be rescheduled since the anthrax scare hit Congress earlier this month.   RDI Consulting Principal Mark Morey is penciled in from the Washington bureau on Monday.  He'll share his insight on where the emissions issue stands on the Hill during the 9:00 a.m. ET newscast.   Secretary of Interior Gale Norton was in Houston Friday at the IPAA conference.  On Monday Houston Correspondent Kim Benestante will bring us more from Secretary Norton on Lease Sale 181 and how drilling in ANWR will create thousands of jobs for Texans.     Noble Drilling CEO Jim Day will also stop by the Houston bureau to talk about his company's third-quarter earnings.  The company reported very good earnings but Day warns that the fourth quarter may not be as good because of a weakening economy.  Join us for all the details on Monday.     ENL's Kym McNicholas will speak with Western States Petroleum Association Spokesperson Dave Fogarty next week.  Fogarty will discuss California's decision to ban MTBE by December 31, 2002 and whether the state is ready for this move.  Catch Fogarty from the West Coast bureau on Wednesday.    Former Governor Pete Wilson tells Kym he takes responsibility for signing the state's deregulation plan, but adds there were steps Governor Gray Davis could and should have taken to avoid what turned out to be an energy crisis.  Kym will have all the details on this story next week.   Finally from New York, Goldman Sachs Analyst Dave Fleischer will drop by to talk about the gas market during the noon ET newscast.   Keep in mind things are subject to change at a moment's notice. Occasionally guests cancel or change time slots.  We'll continue to do our best to keep you updated on future interviews and events.  Have a fantastic weekend!   Be sure to watch our newscasts every business day - 9 a.m. to 5 p.m. ET, at the top of each hour.

	 	Jay Rickerts, EnergyNewsLive.com Anchor  View today's Energy Wrap video   (Requires Windows Media Player or Real Player )   Experience all that Williams Energy News Live has to offer!   If you are receiving this letter for the first time and wish to continue, subscribe now    To stop receiving this letter, unsubscribe now    If you are having trouble receiving this e-mail, please let us know  or  call (800) WILLIAMS (800-945-5426) weekdays, 7am-7pm CST.    Comments? Suggestions? Let us  know  or  call (800) WILLIAMS (800-945-5426) weekdays, 7am-7pm CST.    Copyright 2001 Williams Energy News Live, LLC. All  Rights Reserved.


Allyson,

You should receive some formation documents relating to Edgecombe
Development.  The name is not spelled correctly (missing an "e"), but that is
being corrected at this time.

 Bob spoke to me about wanting Enron to send a letter concerning the
financing arrangements for the project.  I would like for us to discuss this
as well.

Kay


John,

The calcskew function was written in Excel VB for your option pricing model.
The function has performed well for
the number of times it is used in your model. I took a look at your
spreadsheet, and had a few IT programers take
a look at it as well. For the amount of times you're calling the function in
the new spreadsheet, Excel VB is not
the appropriate language for the function. My suggestion to you is that for
these more calculation-intensive workbooks,
we use a function developed in C\C++.  I spoke with Paulo, and he will be
looking into this, and will get in touch with you
today.

-Hector

John Griffith@ENRON
04/03/2001 04:40 PM
To: Hector Campos/HOU/ECT@ECT, Paulo Issler/HOU/ECT@ECT, Bob
Lee/NA/Enron@Enron
cc: Mike Maggi/Corp/Enron@Enron, Dutch Quigley/HOU/ECT@ECT
Subject: Calcskew

Hector,

I just wanted to let you know that a floor tech looked at the file that had
the calcskew function in it (the one I sent you).  I was having problems with
Dr. Watson with the file.  I copied the contents to another workbook and had
the same problems.  Either I didn't copy over the module correctly (vba), or
there are some problems with the function (when it is used many times in a
worksheet).  Please let me know what you think.  I am trying to use the
function to value our entire portfolio during the day and until I get this
worked out, I can't do it.  Thanks for your help.

Sincerely,

John Griffith


Attached are questions we need to be prepared to answer for our conference
call tomorrow with Rochester.

We will be in 3125-A (lets meet at 8:45 a.m.)
---------------------- Forwarded by Oscar Dalton/HOU/ECT on 02/23/2000 01:54
PM ---------------------------

Walter Schlink <wschlink@rpu.org> on 02/23/2000 01:41:49 PM
To: Oscar Dalton/HOU/ECT@ECT
cc: Larry Koshire <lkoshire@rpu.org>, Walt Lorber <wlorber@rpu.org>,
"'kharris@burnsmcd.com'" <kharris@burnsmcd.com>
Subject: RPU-Enron Conference Call

Oscar,
Attached is a list of preliminary questions based on the proposal of Feb
17th.
We will be in Larry Koshire's office for the call at 9:00 a.m. Central Time.
His number is (507) 280-1601
We need to also conference in Kiah Harris of Burns & McDonnell. His number
is (816) 822-3174

Call with any questions or if clarifications are needed.

Wally

        <<questions to
Enron on proposal.dot>>

 - questions to Enron on proposal.dot


please remind me that I have a dentist's appt. on Thursday, Aug. 3 at
4:00pm.  I need to leave here about 3:15pm.

thank you.


Wilkerson is the number 3 prospect in the country at lineman behind Johnathon
Scott a commitment of guess who - Texas.

http://louisianastate.rivals.com/default.asp?sid=40&p=3&sp=1&pl=-13604
                      Wilkerson
http://longhornlink.rivals.com/default.asp?sid=798&p=3&sp=1&pl=-12695
                           Scott

To: Eric Bass/HOU/ECT@ECT, Matthew Lenhart/HOU/ECT@ECT, Bryan
Hull/HOU/ECT@ECT, Chad Landry/HOU/ECT@ECT, Steve Venturatos/HOU/ECT@ECT
cc:
Subject: FW: Big commitment

Raiding Texas baby!
---------------------- Forwarded by Timothy Blanchard/HOU/EES on 01/03/2001
03:44 PM ---------------------------

David Fontana
01/03/2001 03:42 PM
To: Timothy Blanchard/HOU/EES@EES
cc:
Subject: FW: Big commitment

Go Tigers!!!!!!!!!!
---------------------- Forwarded by David Fontana/HOU/EES on 01/03/2001 03:42
PM ---------------------------

ZamettoM@gtlaw.com on 01/03/2001 03:36:50 PM
To: David.Fontana@enron.com, Alex_Dmytraczenko@radian.com,
Mark_Locke2@es.adp.com
cc:
Subject: FW: Big commitment

-----Original Message-----
From: Scott Cullen [mailto:scullen@dwyercambre.com]
Sent: Wednesday, January 03, 2001 4:22 PM
To: Turner (E-mail); Bras (E-mail); Mark Zametto (E-mail)
Subject: Big commitment

We got a huge commitment today from big Ben Wilkerson, center out of
Hemphill, TX.  He is rated by Rivals as the #1 lineman prospect in the
country, and it is very rare for a center to rate so high on their list.
They keep rolling in; Marcus Spears is expected to announce on Friday.

This e-mail contains information that is confidential/privileged or both.
This information is intended only for the use of the individual or entity
named on this e-mail transmission.  Any disclosure, copying, distribution or
use of this information by any person other than the intended recipient is
prohibited.  If you have received this e-mail in error, please destroy
immediatley and contact sender.


Hi Vince,

Unfortunately, I have not heard from him.  He also forwarded his resume to Mauricio Mora, who asked if we could interview him.  When I asked Celeste about it back then she decided against it.  If you need some help tracking him down, let me know.

Thanks,
Althea

Vince J Kaminski@ECT
04/16/2001 01:53 PM
To:	Althea Gordon/NA/Enron@Enron
cc:	Vince J Kaminski/HOU/ECT@ECT

Subject:	Stanford MBA- Interview

Althea,

I was trying to get in touch with this guy.
Did he contact you by any chance?  He missed
the interviews on the campus.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 04/16/2001 01:51 PM ---------------------------

"Seade, Juan J." <Seade_Juan@gsb.stanford.edu> on 03/19/2001 01:15:56 AM
To:	"'vkamins@enron.com'" <vkamins@enron.com>
cc:
Subject:	Stanford MBA- Interview

Dear Vincent,

As I told you on the phone on Friday, I am very interested in a summer
internship at Enron. I would like to point out that I want to pursue a
career in trading, and I am especially interested in derivatives. Given that
Enron is a pioneer in the market making of energy, broadband and weather
derivatives, I find it a company I would be most interested in working for.

I believe that you will find my background of interest to your firm, and I
hope to be interviewed by yourself and other colleagues of yours. I have
final exams from March 19-22, but would be most willing to travel to Houston
for interviews any time from Friday March 23rd onwards. I hope to hear from
you soon.

Best regards,

Juan Seade
MBA Class of 2002
Stanford Business School
796 Escondido Road Apt. 29C
Stanford, CA 94305
Tel:	(650) 497-3705
Email:	jseade@stanford.edu

 <<Resume Juan Seade.doc>>

 - Resume Juan Seade.doc


Just some color on the debt markets

-----Original Message-----
From: Scott, David C [mailto:david.c.scott@bankofamerica.com]
Sent: Friday, September 21, 2001 7:53 AM
Subject: Market Update

Market Update

The market has opened with a weak tone this morning given the collapse in
equity futures - Dow futures down 408, S&P down 29 and NASDAQ down 40 - and
the collapse of some recent new issues in the secondary market.  IBM printed
a $1.5bn five year yesterday at T+117 that just traded at T+130.  What is
leading the collapse in spreads?  BAS has several observations:

* The absolute level of Treasury yields will continue to result in new issue
supply that is priced at ever widening new issue premiums.  Most issuers are
more coupon sensitive than spread sensitive and, as a result, will be
willing to pay a large new issue concession given the attractive level of
overall coupons.

* Although we have not seen it yet in the corporate bond market, an inverted
credit curve is not out of the question given the steepness of the Treasury
curve.  Two and three year securities in particular, almost need to be
priced on a coupon basis.

* The technicals of the market are beginning to deteriorate.  Insurance
companies, traditionally the largest buyer of long assets, appetite for new
product may begin fade as claim estimates climb.  Balanced funds, may need
to begin selling to rebalance portfolios given the meltdown in the equity
market.  The dealer community and the buyside is trying to hold on to market
gains for the year.

Despite the negative tone, BAS feels that issuers in the energy sector will
continue to have access to the primary market in the near-term (albeit at
wider spreads) due to the defensive nature of the sector and the absolute
implosion of other sectors (autos, media, lodging, retail, airlines, etc).

Please do not hesitate to call should you have any questions on the state of
the current marketplace.

David Scott
Banc of America Securities LLC
Energy Debt Capital Markets
P:  704-388-8853
F:  704-388-9212
email:  david.c.scott@bankofamerica.com


Marcelo:

We need to eliminate Appendix B altogether.  We have previously agreed to
eliminate substitution and FAS 125 does not require substitution.  I have
only one more issue to resolve.

Will you revise again?

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com
----- Forwarded by Sara Shackleton/HOU/ECT on 02/23/2001 10:29 AM -----

	Sara Shackleton
	02/22/2001 01:48 PM

		 To: Marcelo_Cosma@ml.com
		 cc:
		 Subject: Repo comments

Marcelo:

Attached are my comments to your initial draft of Appendix C to the Canadian
form of repo agreement.  Please note the following:

(1)  You attached "Annex II" to the end of Appendix C.  That annex came from
the US repo with Merrill.  The information should actually be incorporated
into "Appendix A" of your repo agreement.

(2)  I am waiting to hear internally regarding substitution and a default
issue.

(3)  Please let me know if we have any issues on the Appendix C (and add a
reference to Appendix C at the end of your printed form).

We should be ready to execute shortly.

Thanks.

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com


Sara, please check voice mail regarding GS US$ repo docs.
thanks
Derek


Send me your e-mail address at home. I want to send you that fishing cartoon.

Chris


Norma:  you are correct in that Sevil and I have spoken about her Green Card,
and before we can proceed with this, we need to transfer her from the F1 visa
to an HIB visa, which we will do later this year.

Sevil:  please contact me approx. June or July so that we can start the HIB
process.
Thanks
Margaret

From: Norma Villarreal/ENRON@enronXgate on 03/08/2001 06:31 PM
To: Sevil Yaman/Corp/Enron@Enron, Margaret Daffin/HOU/ECT@ECT
cc: Norma Villarreal/HOU/ECT@ENRON, Vince J Kaminski/HOU/ECT@ECT
Subject: RE: green card

Sevil,

I believe you and Margret Daffin have spoken about the next steps for your
Green Card.   You will need to start working on you HIB at the begining of
October 2001.

If there is any confusion on my part please let me know.

Norma Villarreal
X31545

Below is dicussion between Margret Daffin and Sevil in an e:mail January 26,
2001:

"Sevil:  First of all we have to get you an HIB visa before we can work on
getting you the Green Card.

After you get your OPT, contact me sometime in the summer and I will start
working on your HIB visa which we will obtain in approx. October, 2001.  We
cannot start the green card process when you are still on an F1 visa - you
have to be on an HIB visa.  There is no rush - you will have six years on the
HIB visa - plenty of time in which to get the Green Card."

This was in reference to her note to me, as follows:

"I think I'll have time approximately until the end of 2002 by using cpt and
opt. this makes almost two years. if we can start green card process now, do
you think that I would get it before I need H1. In every case, can't we start
green card before I get H1? Because I don't want to waste these two years
given the fact that green card process is a long process."

 -----Original Message-----
From:  Yaman, Sevil
Sent: Thursday, March 08, 2001 3:59 PM
To: Daffin, Margaret
Cc: Norma Villarreal/HOU/ECT@ENRON
Subject: green card

I haven't heard back from any of you regarding my immigration status. Could
you please get back to me with the information about the initialization of my
green card process? Thank you.

Sevil Yaman
EB 1943
X58083


The CPUC postponed its vote to suspend DA until a meeting on Sept 13 at 2 pm.

The CPUC issued a new draft of its proposed decision that makes the suspension effective on the day of the vote.

A direct access bill may move out of the Senate to the House today or tomorrow -- SBXX 27.  This bill would have no suspension of direct access.

The "Edison Bailout" bill (SBXX 78) is scheduled to be voted on today -- if the Speaker in the Assembly can garner enough votes. That bill would suspend direct access as of August 25.

As always, everything is fluid and changing.

The Legislature is scheduled to end its Session on September 14.


Dear Daren,

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our Contact CDNOW page using this link:

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points.  These "Points Pending" will appear in your Membership Summary as
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Never Miss A Beat.

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http://cdnow.com
AOL Keyword: cdnow

1757978


FYI
Thanks
Gary

> -----Original Message-----
> From:	Meringolo, Peter
> Sent:	Wednesday, May 23, 2001 5:01 PM
> To:	Fergus, Gary S.
> Subject:	FW: Enron Proposals Regarding Document Subpoenas
> Importance:	High
>
>
>
> -----Original Message-----
> From:	Fergus, Gary S.
> Sent:	Monday, October 09, 2000 9:59 AM
> To:	Meringolo, Peter
> Subject:	FW: Enron Proposals Regarding Document Subpoenas
> Importance:	High
>
> FYI.
> Thanks
> Gary
>
> -----Original Message-----
> From:	Fergus, Gary S.
> Sent:	Friday, October 06, 2000 2:57 PM
> To:	'hym@cpuc.ca.gov'
> Cc:	'MBD'
> Subject:	Enron Proposals Regarding Document Subpoenas
> Importance:	High
>
> Harvey Morris Esq.
> California Public Utilities Commission
> 505 Public Utilities Commission
> San Francisco, California   94102
>
> 	Re:   I.00-08-002  Subpoenas Served on Enron Power Marketing, Inc.
> ("EPMI"), Enron Energy Services Operations Inc. and Enron Energy Services
> Inc. (collectively referred to as "EES"), Enron Energy Marketing
> Corporation ("EEMC"), and Portland General Electric Corporation ("Portland
> General")(collectively sometimes referred to as the "Enron Entities")
>
> Harvey,
>
> 	Here are our proposals with respect to the Enron Entities'
> production of documents pursuant to the above described subpoenas issued
> by the California Public Utility Commission (hereinafter "the
> Commission").  The Enron Entities are willing to assist the Commission in
> undertaking its investigation into the problems in the California electric
> markets by producing the information specified on a timely basis.  We
> believe that the production we propose will enable the Commission to
> commence its investigation much sooner than if the parties were forced to
> litigate all of the potential objections to the requests for production,
> which are, by any standard, extremely broad and could involve millions of
> pages of documents.  We make these proposals pursuant to our email
> exchange of October 3, 2000 with the understanding that the Commission
> agrees that by cooperating, offering to produce or producing documents,
> the Enron Entities have not waived any objections or challenges to these
> subpoenas whatsoever and that any claims, defenses, objections,
> jurisdictional or otherwise or other responses have been specifically
> reserved and can be raised in the future, if necessary.   For all of these
> proposals, we exclude documents that are protected from disclosure by the
> attorney client and attorney work product privileges.
>
> 	Generally speaking, the Enron Entities propose to produce documents
> for year 2000 as noted below.  We also understand that the Commission will
> be obtaining documents from the ISO and PX and we will not attempt here to
> duplicate documents that we understand will be produced by those entities.
> As you will see in the general documents that are offered here for
> production, Enron Energy Services Operations, Inc. is the parent of Enron
> Energy Services, Inc. and does not have operating authority or engage in
> wholesale or retail purchases or sales of energy.  Thus, the documents
> offered here with respect to those two entities originates with Enron
> Energy Services, Inc. but we have designated them both as EES.  We also do
> not propose to offer duplicative documents as between the Enron Entities.
>
> GENERAL DOCUMENTS
> Requests 1 through 4
>
> 	Because of the dynamic nature of the Enron Entities' businesses, the
> burden and expense on them to locate, and produce every corporate
> organizational chart anywhere in their organizations since April 1, 1998
> is significant.   The Enron Entities will provide the Commission with
> exemplars of their current organizational charts, telephone directories
> and so called "family trees" to show its current organization.  To the
> extent that the Enron Entities can readily identify and locate exemplars
> of significant organizational charts, telephone directories or so called
> "family trees" for earlier periods they will also make those available.
> One Enron Entity, Portland General, has published books on its corporate
> history.  If a list of those books would be helpful, we can provide it.
> With respect to the other Enron Entities, to the extent that corporate
> histories can be found, they will be produced.  We anticipate producing
> these documents in the first wave on October 13, 2000.
>
> Requests 5 and 6
>
> 	The Enron Entities propose that their responses to Requests 1-4 will
> identify their relationship to affiliated companies and the Transaction
> Documents will identify its customers and suppliers.  We believe this
> information will be sufficient to illustrate these relationships for the
> staff's purposes.
>
> FINANCIAL DOCUMENTS
> Requests 7 through 11
>
> 	The Enron Entities will produce their public filings for the period
> requested with respect to financial data.  EPMI, EES, and Portland General
> will provide to the Commission electronic transaction data ( the
> "Transaction Documents") for the purchase and sale of energy delivered
> which information includes economic data.   We anticipate producing public
> filings regarding financial data on October 13, 2000 and the electronic
> Transaction Documents in the second wave of document productions.
>
> GENERATING DOCUMENTS
> Requests 12, 14 and 18
>
> 	For the Enron Entities other than Portland General, the generation
> facilities are either non-existent or limited in number and there will
> probably be limited documents available.  The Enron Entities to the extent
> they act as a scheduling coordinator or possessed the right to use or
> resell generation output, do not have the specific documents that pertain
> to each generation unit requested.  The Enron Entities, other than
> Portland General, do have documents and information for Las Vegas
> Cogeneration.  We propose to produce these documents in the second wave of
> document productions.
>
> 	 For Portland General, the production of the requested documents
> would involve a tremendous volume of documents, as Portland General owned
> twenty generating facilities of a variety of types and sizes during 2000.
> Portland General is a net importer of energy and can only generate about
> one half of its total energy demand.  As a result, we question whether the
> effort required of Portland General is warranted as its impact on the
> California wholesale market is necessarily limited.  Nevertheless,
> Portland General proposes to provide for year 2000 electronic Transaction
> Documents in summary form similar to the data being provided by other
> Enron Entities, to the extent relevant as discussed below.  We propose
> that the Commission defer requesting production of other information until
> it has reviewed the information of generators who sell a significant
> proportion of their energy into the California market.  At that time a
> more accurate assessment can be made of whether this enormous effort will
> be valuable given the limited impact of Portland General generation on the
> California wholesale market.
>
> TRANSACTION DOCUMENTS
> Requests 13, 15, 16, 17 and 19
>
> 	We understand that the Commission will be obtaining trading data for
> the purchase and sale of energy delivered in California from the ISO and
> PX.  EPMI can provide the Commission several different sets of relevant
> transaction data for year 2000 (in California and outside of California
> and Real Time) for the purchase and sale of energy delivered with the
> date, counterparty, quantity, delivery point, hours, price, and whether it
> is a purchase or a sale.   Because of the speed with which you want this
> information, it is possible that some entries will be incomplete or
> inaccurate.  For those
> transactions where EPMI served only as the scheduling coordinator, we
> understand that the ISO will show part of the transaction, but there will
> not be a corresponding transaction in the EPMI data we can provide
> quickly.  The reason is that this type of transaction is passed through to
> EPMI's customer on an accounting system rather than as part of the trading
> business.  EES can also provide similar data with respect to relevant
> wholesale and retail transactions with the proviso that with respect to
> retail transactions it will not include the specific names of its retail
> customers but instead will provide a blind customer number due to EES'
> confidentiality obligations to those customers.  We anticipate producing
> the Transaction Documents in the second wave of document productions.
>
> FERC DOCUMENTS
>
> Request 20
>
> 	The Enron Entities will produce the requests for data they received
> from FERC and to the extent that FERC has been given responses, copies of
> those responses.  We anticipate producing the FERC documents on October
> 13, 2000.
>
>
> 	Based upon discussions that we have had with the various Enron
> Entities, we believe that we could make a second wave of productions on
> Friday October 27, 2000.  It is possible that not all Enron Entities could
> make that date but we believe the bulk of the data could be available for
> production by then.
>
> 	We propose to make these productions with the understanding that if
> any entity obtains a more stringent protective order than the one
> currently in place, that all of the Enron Entities document productions
> will be protected by the most stringent protective order.  In addition,
> if, at the request of any party or nonparty to this proceeding, the
> Commission or a court of competent jurisdiction orders that the requests
> for production be limited, reduced or eliminated, the Enron Entities
> reserve the right to limit the production of documents in conformance with
> such order.
>
> 	We understand that you will consider these proposals and let us know
> if they are acceptable to the Commission.  If you have any questions or
> comments about our proposal, please do not hesitate to contact Michael Day
> or myself.
>
> Brobeck Phleger & Harrison LLP
>
> Gary Fergus
>
>
>
>
>

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Hey Pavarotti,

Hope you day is going well and that everything is coming together for the big
presentation tomorrow.  My day is going significantly better than yesterday
so I am pleased.  Plus, my friend just emailed me from San Diego to inform me
that she can get us a great table to see the Symphony's last performance of
the season on Navy Pier...so I've got that going for me, which is nice.  By
the way, what did you end up deciding to do about this weekend - or haven't
you decided yet (the latter would not surprise me in the least...you're a fly
by the seat of your pants kind of guy or a slight procrastinator - - I always
get the two confused).

Now for the rule-breaking.  I realize it's already Wednesday but I wanted to
see if you had any interest in going to grab a bite to eat or just a drink
after work tomorrow or Friday night (in light of our heavy work loads, etc. I
hope you can forgive my rudeness).  Both you and Darren looked pretty whipped
last night and I'm sure tonight will be more of the same...You better be
careful, I think this project is starting to give you gray hair.

Shorty

- - I forgot to tell you last night that my 5 yr. old niece got in trouble on
the way to school yesterday because she punched a little boy in the eye.
Evidently, he was bothering she and her friend Reagan...I think my sister's
biggest fears have now been confirmed, little Sally may have taken after her
Aunt Sue Sue a little too much.


Sorry, I thought I talked to you about this a few days ago.  We have decided
to file in response to the ISO's filing -- as the best procedural vehicle
(there I go talking like a lawyer again).  It is due 3/22
Sue Mara
Enron Corp.
Tel: (415) 782-7802
Fax:(415) 782-7854

	James D Steffes
	03/16/2001 05:39 AM

		 To: Susan J Mara/NA/Enron
		 cc:
		 Subject: FILING FOR COLLECTION OF ISO BALANCING PENALTY

What's the latest on this filing?  I'd like to move forward early next week.

Jim


Attached are the revised credit terms for Huntway refining.  They have
requested to see a sample omnibus confirmation with the credit terms we
discussed on the phone with them.

Please call me if you have any questions.

Thanks,

John


Thanks very much.  It needs to go to Bev.  I don't have her email address,
though.  Can you send it to her?  Also copy Scott, Hedy and Sandi.

Thanks.
Jeff


FYI:
Below is a message regarding the last (2) Cypress wires you gave me yesterday.
---------------------- Forwarded by Dana Davis/HOU/ECT on 01/31/2001 04:50 PM
---------------------------

Pat Johnson@ENRON
01/31/2001 04:28 PM
To: Dana Davis/HOU/ECT@ECT
cc:
Subject: Fundings

Hi, Dana -

Craig Fox has the fundings you were looking for.  I will fax you the cover
pages first thing tomorrow.

Pat
5-3369


Lia Hernandez, currently of ET&S, has accepted a position at ENA effective
August 2, 2000.  To ensure that ET&S continues to be in compliance with the
marketing affiliate rules, Lia's access to any ET&S or GPG-related LANs or
applications should be removed at the close of business on August 1.  In
addition, Lia's email profile should be changed and any GPG or ET&S mass
distribution  lists should be changed.

Please send a reply email to me after these changes have been completed,
verifying and indicating the date that employee was:
- removed from the LAN
- EBB password was changed/canceled (if applicable)
- removed from ET&S or GPG-related applications
- email post office box was transfered.

If you have questions, or if you believe there is someone else I need to
contact in order to accomplish the above, please let me know.


ISO Market Participants:
		The ISO has posted on its web site questions and answers
that we have received to date on implementing the FERC's June 19 Order.  You
can find them at
http://www.caiso.com/docs/2001/07/12/2001071217543428639.pdf
<http://www.caiso.com/docs/2001/07/12/2001071217543428639.pdf> .  This is
intended to be a "living document" and we plan to add to and/or modify it as
necessary.
		If you have additional questions that you would like to have
addressed at Monday's conference call, please e-mail them to me ASAP.
		Thank you.
		Byron B. Woertz, Jr.
		Director, Client Relations
		(916) 608-7066
		(800) 481-7037 - Pager


The FERC staff report on western markets and the causes of the Summer 2000
Price Abormalities, entitled, Part I of Staff Report on U.S. Bulk Power
Markets, is available at the following website:
http://www.FERC.Fed.US/Electric/BulkPower.htm.  If you have any questions or
comments, please call Jack Cashin at 202/508-5499.


<<X26059.DOC>>

Here is a preliminary draft of the letter to Dunn.  I have NOT been able to
assimilate and insert the press materials I got from Jeff this morning.  I
will be back from a commissioner meeting at noon California time and can
assist in further editing at that time.  I do believe that some of the press
material can be helpful.  Please send comments back by email.  I can be
reached by cell phone for part of the time during the next 90 minutes.  Mike
Day

cell 415-279-0702

 - X26059.DOC


I am not officializing 1091026 because we ran two basis calcs for the last
day and we officialized the other one and it has the same value - that post
id is 1091034.  Also, FT-Ontario's book admin is now Patrick Ryder, Market
Mich is Jad Doan and FT Intra Ontario is Chuck Ames.  Please shout with
anymore questions.  Thanks.
PL

From: Rachel Crowell/ENRON@enronXgate on 04/10/2001 10:20 AM
To: Clara Carrington/ENRON@enronXgate, Victor Guggenheim/HOU/ECT@ECT, Ryan
O'Rourke/ENRON@enronXgate, Darron C Giron/HOU/ECT@ECT, Luchas
Johnson/NA/Enron@Enron, Kyle R Lilly/HOU/ECT@ECT, Kam Keiser/HOU/ECT@ECT,
Phillip M Love/HOU/ECT@ECT, Souad Mahmassani/Corp/Enron@ENRON
cc: Patrick Frnka/NA/Enron@Enron, Tracey Irvin/ENRON@enronXgate
Subject: Book Names

These are the book names according to my data.; Please advise if further
detail is needed.
;
Post ID  Book Code  Calculated by  Book Name/Description

1091025  G2P  V. Guggenheim  FT Ontario (Price)
1091026  G2D  V. Guggenheim  FT Ontario (Basis)
1091076  A(D  R. O'Rourke  FT West
1090337  P!M  L. Johnson  East Gas Daily
1089877  LVP  K. Lilly  LT Transport (Price)
1089878  LVD  K. Lilly  LT Transport (Basis)
1089880  LVM  K. Lilly  LT Transport (Index)
1090725  GOP  P. Love  FT Intra Ontario (Transport Price Roll)
1090726  GOD  P. Love  FT Intra Ontario (Transport Basis Roll)
1090727  GOI  P. Love  FT Intra Ontario (Transport Index Roll)
1090730  47D  P. Love  FT Intra Ontario (Ontario Basis Roll)
1089826  55P  S. Mahmassani  Central Mich (Market Mich Roll)

;Best regards,
;
Rachel
;


I am STILL on my 100 conference call.  I'll catch up on what I missed later.

Kay

Scott Dieball@ENRON_DEVELOPMENT
08/30/2000 02:22 PM
To: Kay Mann@ENRON
cc: Sheila Tweed@ECT, Martin W Penkwitz/NA/Enron@Enron

Subject: GE World Hunger

Let us know when you want to get together to talk about GE's comments to the
indemnity, assignment and LOL provisions.

On today's call we also talked about meeting in person tentatively the last
week of Sept. place TBD.

Regards,

Scott


----- Forwarded by Jeff Dasovich/NA/Enron on 05/15/2001 05:18 PM -----

	"Stuart Ryan" <sryan@aesc.com>
	05/15/2001 02:54 PM

		 To: Jeff.Dasovich@enron.com
		 cc:
		 Subject: Re(2): Summary of Today's Call/Agenda for Tomorrow's Call

Hi -

Could you please fax me a copy of Plan B

fax # 415 395 7891

Thanks

J. Stuart Ryan
AES Pacific
Suite 3300
100 Pine Street
San Francisco, CA   94111

office:  415 395 7887
mobile:  415 608 0080


Thank you very much. How long would it take to get something like this in? I will be in Calgary on Sept. 6/7 and will come by and see you. Could you e-mail me your work phone number.

Thanx

Chris Dorland

 -----Original Message-----
From: 	"Varsity Ecommerce" <sales@varsitychrysler.com>@ENRON
Sent:	Friday, August 24, 2001 11:25 AM
To:	Dorland, Chris
Subject:	Re: Grand Cherokee

Hi Chris,

I am attaching the breakdown on a Grand Cherokee that matches your request
as closely as possible.

The MSRP on the unit is $51,570 with pretty well every conceivable option -
I can get you this Grand Cherokee for the cash price of $45,188 including
rebates.

Take a look at the attachment and let me know if you have any questions or
comments.

Have a great day,

Dwayne

 - Chris.RTF << File: Chris.RTF >>


CALENDAR ENTRY:	REMINDER

Description:
	Russell on call

Date:		8/20/2001
Time:		8:00 AM (Central Standard Time)

Chairperson:	Stacey W White

Detailed Description:


did you ask that girl out?  if not go ahead and ask her out and we will make
plans.  we can take them for margaritas then to galant night.


David:

This e-mail will confirm the site visit by your company at Wheatland and
Gleason.  The relevant information is as follows:

Pursuant to the Site Visit Procedures sent you by CSFB, if you have not
already done so, please send me the following:
List of your team members and titles
For outside consultants, state their employer
Name, phone number (office and mobile) and e-mail address of your designated
deal team leader

Lastly, I will serve as the due diligence coordinator for Wheatland and
Gleason, handling all questions and responses.  Should you have any due
diligence questions or require copies of any oversized documents, please
contact me at 713.853.7998.

Regards,
Ben Rogers


Here's a laugh for today:

In an emergency session of Congress, just completed, an official change to
the name of one of the 50 United States will take place.  As of noon today,
November 22, 2000 the state formerly known as Florida, will officially be
renamed "Floriduh."  Please make  note  of the change.


Sue Mara
Enron Corp.
Tel: (415) 782-7802
Fax:(415) 782-7854
----- Forwarded by Susan J Mara/NA/Enron on 06/08/2001 04:16 PM -----

	Greg.Blue@dynegy.com
	06/08/2001 03:42 PM

		 To: "Alex Sugaoka \(E-mail\)" <alex.sugaoka@uaecorp.com>, "Bill Woods
\(E-mail\)" <billw@calpine.com>, "Bob Ellery \(E-mail\)"
<bellery@spi-ind.com>, "Bob Escalante \(E-mail\)"
<rescalante@riobravo-gm.com>, "Brian T. Cragg \(E-mail\)" <bcragg@gmssr.com>,
"Carolyn A Baker \(E-mail\)" <cabaker@duke-energy.com>, "Curtis Kebler
\(E-mail\)" <curtis_l_kebler@reliantenergy.com>, "Douglas Kerner \(E-mail\)"
<dkk@eslawfirm.com>, "Duane Nelsen \(E-mail\)" <dnelsen@gwfpower.com>, "Ed
Tomeo \(E-mail\)" <ed.tomeo@uaecorp.com>, "Eric Edstrom \(E-mail\)"
<edstrome@epenergy.com>, "Greg Blue \(E-mail\)" <gtbl@dynegy.com>, "Hap Boyd
\(E-mail\)" <rboyd@enron.com>, "Jack Pigott \(E-mail\)" <jackp@calpine.com>,
"Joe Ronan \(E-mail\)" <joer@calpine.com>, "John G. Larrea \(E-mail\)"
<john.g.larrea@williams.com>, "John O'Rourke \(E-mail\)"
<john.orourke@elpaso.com>, "Kate Castillo \(E-mail\)"
<CCastillo@riobravo-gm.com>, "Ken Hoffman \(E-mail\)"
<khoffman@caithnessenergy.com>, "Kent Burton \(E-mail\)"
<kburton@covantaenergy.com>, "Kent Palmerton \(E-mail\)"
<kent.palmerton@williams.com>, "Marty McFadden \(E-mail\)"
<mmcfadden@covantaenergy.com>, "Michael L. Hawkins \(E-mail\)"
<hawkins@2000energy.com>, "Nam Nguyen \(E-mail\)" <nam.nguyen@powersrc.com>,
"Paul Desrochers \(E-mail\)" <pdesrochers@thermoecotek.com>, "Paul Wood
\(E-mail\)" <pwood@covantaenergy.com>, "Paula Soos \(E-mail\)"
<psoos@covantaenergy.com>, "Rachel King \(E-mail\)" <rachel.king@elpaso.com>,
"Rich Dyer \(E-mail\)" <rich_dyer@covantaenergy.com>, "Roger Pelote
\(E-mail\)" <roger.pelote@williams.com>, "Ross Ain \(E-mail\)"
<ain@worldnet.att.net>, "Scott Harlan \(E-mail\)" <harlans@epenergy.com>,
"Steve Ponder \(E-mail\)" <steve_ponder@fpl.com>, "Steve Schleimer
\(E-mail\)" <sschleimer@calpine.com>, "Susan J Mara \(E-mail\)"
<smara@enron.com>, "Ted Cortopassi \(E-mail\)"
<tcortopassi@covantaenergy.com>, "Tom Hartman \(E-mail\)"
<tom_hartman@fpl.com>, "Tony Wetzel \(E-mail\)" <twetzel@thermoecotek.com>,
"Ward Scobee \(E-mail\)" <wscobee@caithnessenergy.com>, "William Hall
\(E-mail\)" <wfhall2@duke-energy.com>, "Thomas R. McMorrow \(E-mail\)"
<tmcmorrow@manatt.com>, "Carol Hudson \(E-mail\)" <carol@iepa.com>, "Jan
Smutny-Jones \(E-mail\)" <smutny@iepa.com>, "Katie Kaplan \(E-mail\)"
<kaplan@iepa.com>, "Sandra Moseley \(E-mail\)" <sandra@iepa.com>, "Steven
Kelly \(E-mail\)" <steven@iepa.com>
		 cc:
		 Subject: Cal-ISO/FERC -2: Companies Allegedly Gamed Power Market

Cal-ISO/FERC -2: Companies Allegedly Gamed Power Market
Updated: Friday, June 8, 2001 05:29 PM ET   Email this article to a friend!

 Printer-friendly version

LOS ANGELES (Dow Jones)--The California Independent System Operator has
filed a motion with federal energy regulators asking that four major power
suppliers in California be stripped of their ability to charge market rates
because they have allegedly gamed the wholesale electricity market.  Duke
Energy (DUK, news, msgs), Dynegy Inc. (DYN, news, msgs), Mirant Corp. (MIR,
news, msgs) and Reliant Energy Inc. (REI, news, msgs) have been identified
by the ISO as exercising market power - the ability to influence
electricity prices - in California's wholesale power market.

The ISO, which manages the state's high-voltage transmission system,
recently made a similar filing against AES Corp. (AES, news, msgs) and
Williams Cos. (WMB, news, msgs), claiming those companies have profited
excessively in California by exercising market power.  The ISO wants the
Federal Energy Regulatory Commission to revoke generators' authority to
charge market-based rates for their power supply.

Tom Williams, spokesman for Duke Energy, said the company had just received
the FERC filing and is reviewing the allegations.  "We've obviously just
got the filing and we're reviewing it and we are going to respond with our
own FERC filing. But we're also gratified that market forces are at work in
California and prices have come down," Williams said.

Richard Wheatley, a spokesman for Reliant, said the ISO's allegations are
"nothing new."  "It's similar in nature to issues and allegations that have
been raised against other generators," Wheatley said. "The ISO is incorrect
in asking for emergency relief. The situation in California remains to be
an imbalance between supply and demand. The blame game prohibits lasting
solutions from being reached and the business climate in California will be
affected by finger pointing."

Steve Maviglio, press secretary to Gov. Gray Davis, said the governor
"strongly supports any attempt to bring prices down for Californians and to
break the grip a handful of generators have on the electricity market."

The ISO has asked FERC to terminate by June 28 Dynegy's ability to charge
market prices for power from its Southern California power plants and to
schedule a hearing to determine rates based on the energy company's
production costs.  The grid operator also wants Dynegy to refund billions
of dollars, retroactive to May 1, "of the difference between cost-based
rates...and the market revenues actually received."  Similar requests were
made with FERC against Duke, Reliant and Mirant.

"The ISO has submitted compelling evidence that the exercise of market
power is more pervasive than the commission has acknowledged...," according
to the filing.  In the filing, generators have also been accused of
"megawatt-laundering," in which suppliers sell power out-of-state that is
resold to California at a higher price.

California consumers have spent $7 billion for wholesale electricity in
1999, $27 billion in 2000 and could pay as much as $50 billion this year.

Charles Robinson, the ISO's chief counsel, said he is "optimistic" the
state will prevail "in one forum or another and will be able to get the
relief we're seeking."  He said FERC should implement an "effective" market
mitigation plan that will put the brakes on skyrocketing wholesale power
prices.  FERC set up a market mitigation plan, which went into effect June
1, to stabilize wholesale power prices when operating reserves dip below
7%. Robinson said that plan wasn't good enough.

Wholesale power prices were at a seven-month low Thursday, due in part to
the new FERC plan, cooler temperatures, low natural-gas prices, and
conservation measures, energy officials said.

Every three years, FERC reviews generators' ability to charge market rates
for electricity. Generators were first allowed to charge market rates three
years ago, but it is unclear whether FERC has ever stripped suppliers from
their right to charge market prices.


Are any of you still holding posted journal entries from Jan. Close?  If so
will you please let me know what companies they are.  This will be an FYI
kind of thing for me incase any of the accountants come around looking for
specific entries.  Thanks for your cooperation.

dd


The Operational Risk Meeting scheduled for Wednesday, November 21, 2001 from 11:30-1:00 has been cancelled.

Notification will follow regarding the meeting scheduled for  Wednesday, December 05, 2001.

If any further information is required, please give me a call.

Pamela Sonnier
Assistant to Shona Wilson
Enron Networks Wholesale
713.853.7531
ECS 04197
pamela.sonnier@enron.com


John:

Thanks for the update.  However, the volumes have changed a bit.  That's my
fault -  I didn't send them to you.  Not a huge change, but here they are:

Jan  24,644
Feb 22,259
Mar 24,644
Apr 23,849
May 24,644
Jun 23,849
Jul 24,644
Aug 24,644
Sep 23,849
Oct 24,644
Nov 23,849
Dec 24,644

I doubt this will change the notional price, but let me know.

~John