Item 1.  Please refer to Section 7, particularly 7(b), of the ISDA form regarding transfer of receivables and the following setoff language from our schedule.

(g)	Setoff.  (A) Upon the designation or deemed designation of an Early Termination Date the Non-defaulting Party or the non-Affected Party (in either case, "X") may, at its option and in its discretion, setoff, against any amounts Owed to the Defaulting Party or Affected Party (in either case, "Y") in Dollars or any other currency by X or any Affiliate of X under this Agreement or under any other agreement(s), instrument(s) or undertaking(s), any amounts Owed in Dollars or any other currency by Y to X or any of X's Affiliates (irrespective of place of payment or booking office of the obligation) under this Agreement or under any other agreement(s), instrument(s) or undertaking(s).  The obligations of Y and X under this Agreement in respect of such amounts shall be deemed satisfied and discharged to the extent of any such setoff exercised by X and/or X's Affiliates.  X will give Y notice of any setoff effected under this Section as soon as practicable after the setoff is effected provided that failure to give such notice shall not affect the validity of the setoff.  For purposes of this Section, "Owed" shall mean any amounts owed or otherwise accrued and payable (regardless of whether such amounts have been or could be invoiced) as of the Early Termination Date.
Amounts subject to the setoff permitted in this Section may be converted by X into any currency in which any obligation Owed is denominated at the rate of exchange at which X, acting in a reasonable manner and in good faith, would be able to purchase the relevant amount of the currency being converted.  If an obligation is unascertained, X may in good faith estimate that obligation and setoff in respect of the estimate, subject to the relevant party accounting to the other when the obligation is ascertained.  Nothing in this Section shall be effective to create a charge or other security interest except as may be provided under applicable law.  This setoff provision shall be without limitation and in addition to any right of setoff, netting, offset, combination of accounts, counterclaim, lien or other right to which X or any of X's Affiliates is at any time otherwise entitled (whether by operation of law, contract or otherwise).  Each of the parties represents and acknowledges that the rights set forth in this Section are an integral part of this Agreement between the parties and that without such rights the parties would not be willing to enter into Transactions.  Each of the parties further acknowledges that it is executing this Agreement on behalf of itself as principal and, with respect to this Section, as agent on behalf of its Affiliates, which Affiliates shall receive the benefits of this Section and otherwise be bound as if such Affiliates had directly signed this Agreement as it relates to this Section.
(B) Notwithstanding any provision to the contrary contained in this Agreement, the Non-defaulting Party or non-Affected Party, as the case may be, shall not be required to pay to the Defaulting Party or Affected Party any amount under Section 6(e) until the Non-defaulting Party or non-Affected Party receives confirmation satisfactory to it in its reasonable discretion (which may include an opinion of its counsel) that all other obligations of any kind whatsoever (whether pursuant to Specified Indebtedness as defined herein or otherwise) of the Defaulting Party or Affected Party to make any payments to the Non-defaulting Party or non-Affected Party or any of its Affiliates under this Agreement or under any other agreement(s), instrument(s) or undertaking(s), which are Owed as of the Early Termination Date hereof have been fully and finally satisfied.

The following are three areas of questions.

A.  Should a Counterparty effect an assignment of receivables under Section 7(b) for a financing to Bank, what is Enron's "priority" position (assuming Bank has filed a financing statement)?  Is the analysis below correct?

1.  Bank takes receivable assignment under contract subject to Enron setoff rights because Bank would be held to actual knowledge of the express setoff right in the contract under which it is taking the receivables.

2.  Is there any method by which the Bank can prime Enron (assuming Enron has made no public filings) without Enron's written consent?

B.  Assume a master netting agreement is in place.  I believe our assignment provisions protect us and are more prohibitive than the ISDA; however, we may want to expressly cite assignment of receivables rather than the master agreement and transactions "as security".  Please review and advise of any particular language you think should be added.

C.  Do you have any suggested language that we might add to the form 7(b) provision via our schedule, or is it necessary?   For example, adding at the end of 7(b), ";provided, any such assignment shall be made expressly subject [and subordinate] to this Agreement, including, without limitation, all rights of [ENA] under Section 6 and [reference setoff section]."

Item 2.  Can I get any other comments on the revised draft of master netting agreement?

Cordially,
Mary Cook
Enron North America Corp.
1400 Smith, 38th Floor, Legal
Houston, Texas 77002-7361
(713) 345-7732
(713) 646-3393 (fax)
mary.cook@enron.com


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Tana:

The following CPs are not authorized to trade US power products:

Alliant Energy Corporation: Not a current CP/not FERC approved
Louis Dreyfus Corporation: Restricted by Credit
Vitol SA:  Not a current CP/not FERC approved
Vitol SA Inc.:  Not a current CP/not FERC approved
Deseret Generation and Transmission Co-Operative Inc.:  Declined by Credit
East Texas Electric Co-Op., Inc.:  Declined by Credit
Interstate Gas Supply:  Restricted by Credit

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

Consolidated Edison Energy, Inc. is authorized to trade power, but only
pursuant to on-line GTCs  with collateral (per a conversation this morning
with Ed Sacks). Someone from EOL needs to speak with Ed so he can give them
the collateral thresholds.

Thanks,

Shari


Sheila,

If you are working on this I think it makes more sense for you to have Ed
handle the CA.  I don't want to get in the middle.

Thanks,

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 02/26/2001 05:55
PM ---------------------------

Fred Mitro@ECT
02/23/2001 02:01 PM
To: Kay Mann/Corp/Enron@Enron
cc: Ben Jacoby/HOU/ECT@ECT, Kathleen Carnahan/NA/Enron@Enron, Sheila
Tweed/HOU/ECT@ECT

Subject: CA - Onondaga

Kay:

Ben and I are working on a deal that involves the monetization of a Cash Flow
Interest which ENA currently holds in Onondaga Cogeneration L.P. (an 80 MW
combined cycle plant in NY state)

We would like to begin discussions next week with parties interested in
purchasing ENA's interest in OCLP.  Please prepare a form CA and forward to
Ben and I so that we may forward it to the interested counterparties.  We
also need one draft CA prepared for the following counterparty:

 Trust Company of the West

Sheila has inititated the process of assigning the Cash Flow Interest from
ENA into an LLC.

Call me if you wish to discuss.

Fred


Are we on for Wednesday?

Chris


Per our discussion this morning, below is a summary of items to discuss with
Glynn:

Adding Enron's "negative CTC claim" to the list of claims: PGE's filing
included a list of top twenty creditors.  Our negative CTC claim was
apparently not taken into account in compiling that list.  The list is
nonbinding, however.  PG&E will be required to file schedules of creditors on
April 20.  Our negative CTC claim should be on Schedule F (for unsecured
claims).  You may want to remind Glynn of your previous conversations and
state our expectation that the negative CTC claim will appear (preferably as
uncontested) in the April 20 filing. (Note: if PG&E does not include the
claim we have an opportunity to file a proof of claim and ultimately the
court determines the validity of the claim).
Including Enron on the Creditors' Committee:  PG&E may have the opportunity
to influence representation on the creditors' committees.  There are several
reasons to suggest to Glynn that we be included: 1) we are a big creditor, 2)
we could be helpful in crafting a broader solution, and 3) we are one of the
real parties in interest behind the PX and ISO (who were listed as
significant creditors but are really just "passthroughs" for the suppliers
... and PG&E likely would not want to have those political bodies serving on
the creditors committee anyway).


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Mike,

 A nice picture of Elaina you can use as a wallpaper.

Vince


Kim,
 This appears a little too iffy.  Please get with SCGC to find out the notice
period. If it is greater than 10 days then we will change our language to the
greater notice period.  If less, we will leave our notice period at 10 days
prior to the month.  Please call if you would care to discuss.

	Kim Ward
	01/08/2001 05:01 PM

		 To: Dan J Hyvl/HOU/ECT@ECT
		 cc:
		 Subject: Re: Akzo Nobel, Inc. Confirmation Letter

Dan,

Instead of saying that the customer has just 10 days written notice to get
out of the deal, we should add something to this effect - "subject to the
monthly deadline established by Southern California Gas Company for
terminating authorized marketer arrangements."

Let me know if you have any quesitons - 503-464-3826 or cell 503-805-2117.

Thanks,

Kim

Dan J Hyvl
01/08/2001 02:01 PM
To: Kim Ward/HOU/ECT@ECT
cc: Chris H Foster/HOU/ECT@ECT
Subject: Akzo Nobel, Inc. Confirmation Letter

Kim,
 Please review the attached confirmation letter to see if it correctly
reflects your transaction.  Please call if you have any questions.


P.S.  Obviously, Jane's answer also forecloses pursuing the question from
Skadden regarding second-tier and other ownership entitites.  I have,
however, put to Jane the question about our 5% holding in GAIL.   mcs
---------------------- Forwarded by Mark Schroeder/LON/ECT on 02/06/2000
09:54 ---------------------------

Mark Schroeder
02/06/2000 09:10
To: Steven J Kean/HOU/EES@EES, J Mark Metts/NA/Enron@Enron
cc:

Subject: CONFIDENTIAL

See answer re: India's FIB, below.   mcs
---------------------- Forwarded by Mark Schroeder/LON/ECT on 02/06/2000
09:11 ---------------------------

Jane Wilson@ENRON_DEVELOPMENT
02/06/2000 15:11
To: Mark Schroeder@ECT
cc:

Subject: CONFIDENTIAL

Just from what I know (I don't think more questions would maintain
confidentiality) there is a central Foreign Investment Board that would
probably have to approve if anything is sold to a foreigner.
---------------------- Forwarded by Jane Wilson/ENRON_DEVELOPMENT on
06/02/2000 09:10 AM ---------------------------

Mark Schroeder@ECT
06/01/2000 08:53 AM
To: Jane Wilson/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:

Subject: CONFIDENTIAL

I understand that there is no limitation on asset sale, via financing
doucments, except approval of lenders, but is there any state/central
approval, e.g., India Investment Board?  thanks  mcs


Kelly M. Johnson
Enron Corp.
Executive Assistant
Tel: (713) 853-6485
Fax: (713) 853-2534
E-Mail: kelly.johnson@enron.com


----- Forwarded by Dan J Hyvl/HOU/ECT on 06/12/2001 02:21 PM -----

	skneuweiler@aep.com
	05/30/2001 04:41 PM

		 To: dan.j.hyvl@enron.com
		 cc:
		 Subject: New contract forms

---------------------- Forwarded by Stacey K Neuweiler/AEPIN on 05/30/2001
05:41 PM ---------------------------

"Brian Kerns" <bkerns@duke-energy.com> on 05/11/2001 11:45:26 AM

To:   skneuweiler@aep.com
cc:

Subject:  New contract forms

Stacy, sorry, I had copies of the 311 IT but not an updated Intra IT.
Here's copies of both forms and the accompanying SOC's.
(See attached file: FORM 311 TRANSPORTATION AGREEMENT.doc)
(See attached file: SOC-2-01.dot)
(See attached file: form intrastate transportation.doc)
(See attached file: Intrastate SOC.doc)

(See attached file: FORM 311 TRANSPORTATION AGREEMENT.doc)
(See attached file: SOC-2-01.dot)
(See attached file: form intrastate transportation.doc)
(See attached file: Intrastate SOC.doc)

 - FORM 311 TRANSPORTATION AGREEMENT.doc
 - SOC-2-01.dot
 - form intrastate transportation.doc
 - Intrastate SOC.doc


You are invited to attend a meeting to discuss Transwestern on July 31st from 2:00 - 4:00 p.m.
It will be held in 49C2 (video conference room - Houston) and
in 7C2 (video conference room - Omaha)

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

Stan Horton                            Greg Porter                            Charles Moore - Akin, Gump
Rod Hayslett                           Mary Kay Miller                      Robin Nuschler - Akin, Gump
Danny McCarty                       Steve Kirk                              Frank Kelly - Gallagher, Borland
Steve Harris                            Maria Pavlou                          Steve Stojic - Gallagher, Borland
Kim Watson                                                                        Joe Hartsoe - Enron
Shelley Corman
Drew Fossum
Teb Lokey
Tracy Geaccone

    Tracy, Rod Hayslett requested that you attend this meeting also.  I'm sorry, I didn't add your name to the list.

Washington D. C. participants, please dial:   1-800-713-8600
                                              Passcode:    21423

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

Bonnie J. Baum
ETS Legal Department
P. O. Box  1188 (77251-1188)
1400 Smith Street, Room EB4771
Houston, Texas 77002
Ph. 713-853-7172

Send email c/o
emily.sellers@enron.com <mailto:emily.sellers@enron.com>


Today is my last day with the company and with all sincerity, I want to thank
everyone for making my last 2.5 years so much fun.  It really has been a
blast and I hope we keep in touch.  As you know, I'll be at Northwestern next
year so if you're in Chicago, please look me up.  Take care, I wish you guys
all the best.  Here is my forwarding info, but first...

No Iaia email is complete without a cheesy, Italian quote:
And so I leave you with the immortal words of Francis Albert Sinatra:

"And now, the end is near;
and so I face the final curtin.
I ate it up and spit it out.
I faced it all and I stood tall;
And did it my way."

God bless that guy, anyway, here it is:

iaia14@hotmail.com
518-869-2280

It's been fun. Y'all take care now, y'hear?


Angela.

How is Thursday the 16th of May.  Call me John. 713-853-7991


All,

We have 20 people scheduled for interview for the ENA Trading Track next Wednesday, May 30th from 2.00 pm - 4.30 pm.  You will each interview 5 candidates.   We have 14 Internal candidates and six external.   Each of you will receive your schedules, resumes,  evaluations forms and location details on Tuesday.    Please note a de-brief will take place at the Double Tree Hotel directly after interviews (exact location will be included in your interview pack).

Thank you for your participation in this recruiting event.

Regards,

Karen
x54667


Guys, assuming that we receive $7M for the 6B's what is our cost basis in the
Barges?

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 10/02/2000
12:53 PM ---------------------------

Brian Redmond
09/29/2000 04:56 PM
To: David W Delainey/HOU/ECT@ECT
cc: Jean Mrha/NA/Enron@Enron, Ron Tapscott/HOU/ECT@ECT
Subject: Re: LIPA

Dave:

Status of the 6Bs:  Enron Nigeria has sent us $7.1MM for the two turbines.
We have an agreed turbine purchase contract that we have executed and that
Enron Nigeria are supposed to execute today.  Per our discussion, Wes C.
suggested that we push the $2.0MM additional write down as well as the $7.1
turbine purchase revenue to Q4.

Status of LIPA/Barges:   We are working in two directions.  Currently, we
are:

1. Finding a buyer for either the LIPA PPA/Barges together, or just the
barges by themselves
2. Discussing with LIPA, the Power Desk, and BargeCo to find an acceptable
PPA structure and barge price to meet our risk/return criteria.

The decision tree for the LIPA deal is as follows:

IF: The LIPA PPA can be structured to be unit contingent for energy,
   AND: The power desk can get comfortable with the capacity availability
risk (discussions ongoing)
   AND: The economics of the deal are acceptable given the price for
replacement capacity charged by the desk.
   AND: All permitting issues are either resolved or resolvable

OR,

IF: We can find an "as-is, where-is" buyer for the Barges with/without the
PPA (ConEd, Montauk, NRG)

THEN:
 ENA will purchase the barges from BargeCo (Barges are currently located in
Brooklyn)

ELSE:
 We will not purchase the barges and will shut down the LIPA deal.

 1. LIPA:  We will fall back on permitting issues and schedule to as a reason
to stop working on the deal.

2. BargeCo:  The barges will have a lower performance than what was
originally stated by BargeCo.  Additional capital investment would be
required to meet our performance requirements - our position is that this
additional cost must be borne by BargeCo.  We do not, however, want to
implement this action until we have sold the 6B turbines to Enron Nigeria so
that we are sure this transaction is completed.

David W Delainey
09/29/2000 08:25 AM
To: Brian Redmond/HOU/ECT@ECT, Jean Mrha/NA/Enron@Enron
cc:
Subject: LIPA

Guys, what are we going to do with this contract and the barges?  My
understanding is that we have a done deal on the 6B's.  Is this correct?  I
may be a nervous nellie but I would like to put all this stuff behind us (ie)
no more 6B's or barges.

Regards
Delainey


Mog,

Here's the Socal file as requested.  As I indicated, this information is a
competitive advantage of ours, so it should stay in the company.  Thanks.

Mat


We are working very diligently to accommodate the need for space on the 30th
floor.  Unfortunately, we are not able to do any major construction to
densify the floor during the next several months while Enron Property
Services is completing the build-out of levels 29, 31 and 32.   In the mean
time, we are going to build out the window spaces on 30 to increase the
capacity on the floor.  While these locations are not prime spots, people
will need to occupy them as our business continues to grow.  Once the window
seats have been constructed (estimated to be 2-3 weeks), we will realign
groups on the floor and people will need to move once again.

I am requesting your cooperation and patience to work with Lisa Cousino while
she works with space planners to coordinate the location of Energy Operations
personnel on the newly-constructed Commercial floors.  Susan Harrison is
working with Lisa to manage the space planning on 30 during this transition
period.  Chantelle Villanueva will be coordinating all moves of people and
equipment on the 30th floor.  If there are any problems once a move has
occurred (i.e., missing or non-working phones, boxes, computer equipment,
printers, etc.), please contact Chantelle at Ext. 3-6279 as she will also
coordinate the follow-up on all move-related items.  If Chantelle is not
available, Maria Sandoval will be her backup.  Maria can be reached at Ext.
3-5586.

I would also appreciate your help in cleaning up the floor, including the
window spaces.  We can no longer maintain unnecessary boxes, paper and
supplies on the floor.  Please coordinate with your assistant to have your
area cleaned up by December 31.  During this clean-up process, if you have
any documents that need to be filed and/or archived, please contact Carolyn
Gilley in the Information and Records Management group at Ext. 3-5237 and she
will make arrangements to pick up the information from the 30th floor.

Thank you in advance for your understanding and cooperation in maintaining a
neat and professional work environment.  Between now and the summer of 2001
when we will relocate to the new building, please keep in mind that we are
all working in a temporary and makeshift environment.  I would greatly
appreciate your patience and good humor as we struggle to use the available
space effectively.

If I have missed anyone on the distribution list that has just recently moved
to the 3oth floor, please forward this message to them.


On Friday I forwarded to you SDG&E's Motion to Implement its Memorandum of
Understanding.  The below Chief ALJ ruling calls for comments on the Motion
by Friday the 27th.  Please let me know as soon as possible if Enron is
interested in commenting.

Jeanne Bennett
-----Original Message-----
From: Wong, John S. [mailto:jsw@cpuc.ca.gov]
Sent: Monday, July 23, 2001 3:48 PM
To: 'DavoodiKR@efaches.navfac.navy.mil'; 'mbrubaker@consultbai.com';
'douglass@energyattorney.com'; 'christine.costa@sce.com';
'uwuaregion5@earthlink.net'; 'chiefskip@aol.com'; 'mshames@ucan.org';
'kmelville@sempra.com'; 'tbrill@sempra.com'; 'jleslie@luce.com';
'fmo@sdcity.sannet.gov'; 'riald@kindermorgan.com';
'furutanj@efawest.navfac.navy.mil'; 'mdjoseph@adamsbroadwell.com';
'freedman@turn.org'; 'bfinkelstein@turn.org'; Farrar, Darwin;
'ek@a-klaw.com'; 'DVRONROCK@ADPLAW.COM'; 'epoole@adplaw.com';
'jsqueri@gmssr.com'; 'jbennett@gmssr.com'; 'pbray@newpower.com';
'jmalkin@orrick.com'; 'jguzman@nossaman.com'; 'cjw5@pge.com';
'ssmyers@worldnet.att.net'; 'tsmegal@calwater.com'; 'bishop@jrwood.com';
'cwrmccv@worldnet.att.net'; 'jweil@aglet.org'; 'tknox@klalawfirm.com';
'jtachera@energy.state.ca.us'; 'rliebert@cfbf.com'; 'uwua273@aol.com';
'rogerberliner@bcjlaw.com'; 'leslie.lawner@enron.com';
'kswitzer@scwater.com'; 'cil@cd4.sannet.gov'; 'LVanWagenen@sempra.com';
'jhay@sempra.com'; 'jskillman@prodigy.net'; 'fosterbc@sce.com';
'jpeck@sempra.com'; Monson, Maurice; 'ktilton@gralegal.com';
'luluw@newsdata.com'; 'rbw@mrwassoc.com'; 'difellman@energy-law-group.com';
'rschmidt@bartlewells.com'; 'wendy@econinsights.com'; 'fwmonier@tid.org';
'rmccann@cal.net'; 'Slayman@energy.state.ca.us'; Khoury, Dexter; Lafrenz,
Donald J.; Ramirez, Manuel; Vanko, Maria; Wetzell, Mark S.; White, Rosalina;
Casey, Sean F.; Ross, Steve; 'mjaske@energy.state.ca.us'; Campbell, Rod;
'jbushee@sablaw.com'; 'kmccrea@sablaw.com'; 'callen@akingump.com';
'jweisgall@aol.com'; 'rogerberliner@bcjlaw.com'; 'dgeorge@kroger.com';
'jimross@r-c-s-inc.com'; 'mbrubaker@consultbai.com'; 'anchau@shellus.com';
'keith-sappenfield@reliantenergy.com'; 'jsmollon@newwestenergy.com';
'jlyoung@sempra.com'; 'napedersen@jonesday.com'; 'kmcspadd@milbank.com';
'hchoy@isd.co.la.ca.us'; 'dhuard@manatt.com'; 'athomas@newenergy.com';
'lgurick@calpx.com'; 'douglass@energyattorney.com'; 'randy_britt@mayco.com';
'dmarshall@greggind.com'; 'beth.fox@sce.com'; 'j.p.shotwell@sce.com';
'uwuaregion5@earthlink.net'; 'fmo@sdcity.sannet.gov'; 'julesan@aol.com';
'mshames@ucan.org'; 'jparrott@sempra.com'; 'kmelville@sempra.com';
'jleslie@luce.com'; 'riald@kindermorgan.com';
'bill.mccallum@ci.fresno.ca.us'; 'btenney@landuselaw.com';
'ronknecht@aol.com'; 'furutanj@efawest.navfac.navy.mil';
'kpoole@adamsbroadwell.com'; 'mdjoseph@adamsbroadwell.com';
'harrington@ggra.org'; 'freedman@turn.org'; Cagen, Robert C.;
'bfinkelstein@turn.org'; 'theresa_mueller@ci.sf.ca.us'; Zeller, Jason;
'christine_ferrari@ci.sf.ca.us'; 'iberrio@greenlining.org';
'lifcentral@lif.org'; 'ek@a-klaw.com'; 'jnnc@chevron.com';
'ktilton@gralegal.com'; 'imoosen@gralegal.com'; 'clpearce@duanemorris.com';
'phanschen@mofo.com'; 'tmberliner@duanemorris.com'; 'dpritchard@mofo.com';
'smoss@hooked.net'; 'epoole@adplaw.com'; 'chilen@llgm.com';
'jsqueri@gmssr.com'; 'jbennett@gmssr.com'; 'bloomje@la.whitecase.com';
'pbray@newpower.com'; 'rick.counihan@greenmountain.com';
'thoulihan@mdbe.com'; 'mday@gmssr.com'; 'jmalkin@orrick.com';
'edwardoneill@dwt.com'; 'lindseyhowdowning@dwt.com'; 'tregtremont@dwt.com';
'jguzman@nossaman.com'; 'whe1@pge.com'; 'ssmyers@worldnet.att.net';
'pxo2@pge.com'; 'pat.williams@dhcmail.com'; 'jhg@meyersnave.com';
'wbooth@booth-law.com'; 'jerryl@abag.ca.gov'; 'mgomez1@bart.gov';
'askaff@energy-law-group.com'; 'pjpowerlaw@aol.com';
'difellman@energy-law-group.com'; 'nryan@environmentaldefense.org';
'rschmidt@bartlewells.com'; 'rrcollins@n-h-i.org'; 'ckingaei@yahoo.com';
'patrickm@crossborderenergy.com'; 'tomb@crossborderenergy.com';
'brbarkovich@earthlink.net'; 'pmcdonne@wenet.net'; 'pjmuller@ricochet.net';
'jbradley@svmg.org'; 'tsmegal@calwater.com'; 'sberlin@mccarthylaw.com';
'bishop@jrwood.com'; 'cwrmccv@worldnet.att.net'; 'scottst@mid.org';
'bill@jbsenergy.com'; 'cmkehrein@ems-ca.com'; 'jweil@aglet.org';
'lwhouse@el-dorado.ca.us'; 'abb@eslawfirm.com'; 'bpowers@seniors.org';
'dcarroll@dbsr.com'; 'dkk@eslawfirm.com'; 'ed@clfp.com';
'howens@seniors.org'; 'bradylaw@pacbell.net'; 'sgreenberg@realenergy.com';
'tknox@klalawfirm.com'; 'smutny@iepa.com'; 'lmh@eslawfirm.com';
'jtachera@energy.state.ca.us'; 'hodgesjl@pacbell.net'; 'kmills@cfbf.com';
'rliebert@cfbf.com'; 'aorchar@smud.org'; 'deb@a-klaw.com';
'jcpaine@stoel.com'; 'mhg@hetrading.com'; 'dws@keywaycorp.com';
'hbd@gweiss.com'; 'gerhordt.herbert@msdw.com'; 'cread@steptoe.com';
'jogg@jhenergy.com'; 'peter_fox-penner@brattle.com';
'DavoodiKR@efaches.navfac.navy.mil'; 'bill.wells@tyndall.af.mil';
'ad046@detroit.freenet.org'; 'bob_anderson@apses.com'; 'gdreed@sidley.com';
'doug.anderson@calenergy.com'; 'robert.d.schasel@fritolay.com';
'cyounger@manatt.com'; 'rkeen@manatt.com'; 'jpbatmale@realenergy.com';
'georgeperrault@msn.com'; 'frank.cooley@sce.com'; 'picketse@sce.com';
'ROTT1@aol.com'; 'jherrera@dpw.co.la.ca.us'; 'LVanWagenen@sempra.com';
'troberts@sempra.com'; 'jhay@sempra.com'; 'jbarthrop@powersavers.com';
'jskillman@prodigy.net'; 'foothill@lmi.net'; 'fosterbc@sce.com';
'jpeck@sempra.com'; 'mbazeley@sjmercury.com'; 'mpa@a-klaw.com';
'mpatel@brownwoodlaw.com'; 'paul.harris@bridge.com'; 'oshirock@pacbell.net';
'glsg@pge.com'; 'hwmoore@pcit.com'; 'margery.a.neis@us.pwcglobal.com';
'natutt@duanemorris.com'; 'j3m9@pge.com'; 'epoole@adplaw.com';
'derkp@newsdata.com'; 'luluw@newsdata.com'; 'tom.oneill@abnamro.com';
'mmattes@nossaman.com'; 'RJP2@pge.com'; 'brb3@pge.com'; 'drp6@pge.com';
'ell5@pge.com'; 'jyf1@pge.com'; 'mrh2@pge.com'; 'NXK2@pge.com';
'rrh3@pge.com'; 'rtp1@pge.com'; 'alexm@calpine.com'; 'gtbl@dynegy.com';
'joe.paul@dynegy.com'; 'honest@compuserve.com';
'jon.jacobs@paconsulting.com'; 'emitchel@angnewspapers.com';
'rbw@mrwassoc.com'; 'joeyoung@ebmud.com'; 'dmarcus@slip.net';
'jeff@hmhresources.com'; 'ed@apx.com'; 'wendy@econinsights.com';
'chrism@mid.org'; 'fwmonier@tid.org'; 'rmccann@cal.net';
'blaising@braunlegal.com'; 'melanie_gillette@rmiinc.com';
'Slayman@energy.state.ca.us'; 'swchurchill@juno.com'; 'jdh@eslawfirm.com';
'ddavie@hesinet.com'; 'karen@klindh.com'; 'cpeyton@sacbee.com';
'thaines@smud.org'; 'huse@eesconsulting.com'; Stevens, Maria E.; Premo, Anne
W.; Walwyn, Christine M.; Danforth, Christopher; Khoury, Dexter; Lafrenz,
Donald J.; Fua, Faline; Yee, Helen W.; Lo, Jeanette; Wong, John S.; DeUlloa,
Joseph R.; Halligan, Julie; Kajopaiye, Kayode; Malcolm, Kim; Lippi,
Kimberly; Krannawitter, Laura L.; Serizawa, Linda; Vanko, Maria; Durgin,
Pamela M.; Kinosian, Robert; Feraru, Robert T.; White, Rosalina; Casey, Sean
F.; Linsey, Steve; Roscow, Steve; Ross, Steve; Pulsifer, Thomas R.; Burns,
Truman L.; Tapawan-Conway, Zenaida G.; 'nevillm@hdcdojnet.state.ca.us';
'dwrlegal1@water.ca.gov'; Hartmann, Audra; 'mjaske@energy.state.ca.us';
'randy.chinn@senate.ca.gov'; 'firmiyas@dof.ca.gov'; Campbell, Rod;
'rtavares@energy.state.ca.us'; 'mschwebs@energy.state.ca.us';
'rpernell@energy.state.ca.us'
Subject: Two Rulings Re: SDG&E's Motion For Implementation of MOU and Prop
osed Settlement of Pending Writ of Review

Attached are two rulings pertaining to recent filings made by SDG&E in
(A.00-11-038, A.00-11-056 and A.00-10-028) and in (A.00-10-045 and
A.01-01-044).

SDG&E filed a motion on July 13, 2001 in A.00-10-045 and A.01-01-044 for
implementation of the memorandum of understanding (MOU) that was signed by
the California Dept. of Water Resources and by SDG&E/Sempra Energy.  SDG&E's
motion set forth a proposed roadmap for the implementation of the MOU.  The
attached Chief ALJ ruling shortens the time for interested parties to
respond to SDG&E's July 13, 2001 motion, and requests responding parties to
comment on certain MOU issues.  Interested parties may file a response to
this motion on or before July 27, 2001.

In A.00-11-038 et. al, SDG&E has proposed to settle all issues related to
SDG&E's pending petition for writ of review of Decision (D.) 01-01-061 and
D.01-05-035.  On July 2, 2001, Commissioner Lynch issued an ACR inviting
parties to file comments on this proposed settlement agreement.  In a letter
from the CPUC's General Counsel dated July 13, 2001 to Sempra Energy, the
letter stated that another ACR would issue setting a comment period on the
proposed settlement of the pending petition once the materials about the MOU
were filed with the Commission.  The attached ruling of Commissioner Lynch
provides that interested parties may file additional comments on the
proposed settlement of the pending writ of review in light of the MOU.
These comments are to be filed on or before July 27, 2001.

<<Chief ALJ Ruling Shortening Time on SDG&E motion.doc>> <<ACR inviting
comment on proposed settlement of pending writ of review.doc>>

John S. Wong
CPUC - ALJ
(415) 703-3130

 - Chief ALJ Ruling Shortening Time on SDG&E motion.doc
 - ACR inviting comment on proposed settlement of pending writ of review.doc


June 23, 1999

Home,
A sort of honor, not a building site,
Wherever we are, when, if we chose, we might,
Be somewhere else, but trust that we have chosen right.

W.H. Auden

The view from my living room, a southern view, begins with a mess of red
tiled rooftops tumbling down to the Halic (Golden Horn).  On the other side
of the Halic (a river-harbor, once beautiful and fast flowing, now stalled
and polluted) are the hills where the ancient city Byzantium (later to be
called Constantinople, later still Istanbul) was founded nearly six
centuries before the birth of Christ.  Above a cement colored smear of
apartment buildings of much more recent vintage, I can make out the outlines
of towers that were part of defensive walls first started in the 500's AD.
I can also see the massive Selimiye and Mihrimah Mosques, built in the
1500's during the reign of perhaps the greatest Ottoman, Suleyman the
Magnificent.  Otherwise, the hillsides of Eski (Old) Istanbul are covered by
the before mentioned apartment buildings, relatively new but already
appearing weary from overuse and ready for replacement.  They are, I
suppose, full of people who for the most part work far too much for far too
little and who must wonder, more and more, with each passing day, about the
relevance of their muezzins' cries.  Incongruously, hundreds, maybe
thousands, of sea gulls, screeching a bit like Halloween pranksters, dip and
rise in the air space between me and all of that.

I recently bought a cheap guitar (I left a better one back in the States)
from my friend Ilyas, and from time to time I sit looking out my window
while playing sad songs from America's south (the easiest kind to play --
slow, with three chords and, as Bono [pretentiously] said, the truth).  This
evening, I did just that, singing and playing, among others, a song by Steve
Earle, in which he laments having forgotten to say goodbye to some long ago
love ("Was I off somewhere, or maybe just too high?") and one by Lucinda
Williams, who sings about hitting the road in order to forget ("When I get
to Baton Rouge, I won't cry a tear for you").  A pile of clouds staacked up
on the horizon prevents me from seeing the sunset, but the invisible sun
still makes its presence know, bordering them crimson.  I watch the
neddle-like vapor trail of a jet crawl west -- until it too disappears
behind the clouds -- all the time wondering about when I too will be heading
in that same direction.

What will it be like to be in America again?  I don't think I've ever
developed particularly deep psychic connections with places, though that is
not to say I haven't loved the places I've lived.  I truly adore San
Francisco and I always come to Dallas's defense.  I appreciate Aurora
(Illinois) and miss Westfield (New Jersey), often wondering what it would
have been like to have finished my growing up there.  But because, perhaps,
I ultimately value experience more than comfort -- and, don't get me wrong,
I value comfort a great deal -- maybe I haven't been able to convince
myself, at some critical, fundamental level, to believe that settling down
in one place (or, come to think of it, with one person) for the rest of my
life is an  ultimate goal.  Of course, I worry about where this all might
lead, with the specter of absolute -- and perhaps, God forbid, unbearable --
loneliness sometimes seeming a real possibility.  But, then again, maybe I'm
just looking for the ultimate home, and will burrow in deeply once I've
found it.

My great buddy Misha and his wife Nina just returned to their home after
what was, for me at least, a wonderful ten-day visit.  They weren't so sure
about the Boza (a sweet, slightly fermented drink made from millet) I
accosted them with at a tiny caf? in the center of Eski Istanbul, but they
tried it anyway.  Later, forgetting about how scared I had been the first
time I was there, I think I spooked them a bit when I lead them on a
post-dusk walk through the "working class" Kucuk Pazar neighborhood (on our
way to the breathtaking interior and exterior views at the Suleymaniye
Mosque).  While passing through Kucuk Pazar, we turned into one particularly
poorly lit street and came upon a crowd of men talking and smoking in near
total darkness.  (I could only tell they were smoking by the occasional
flare of the embers at the end of their cigarettes.)  After first not
knowing what in the world we'd stumbled onto, I realized we were passing
near a hamam (Turkish public bath) -- no doubt an immensely important
institution in Kucuk Pazar, as many of the apartments there (I have been
told) have no showers.

Notwithstanding these, and a few other nonstarters, I still think Misha and
Nina's trip was a success.  We did and saw a lot, albiet while suffering
through the hot, humid beginnings of an Istanbul summer.  Probably of most
significance, to me, was checking in with Misha after nearly nine months
apart.  We had much to talk about, or at least to allude to vaguely.  During
one of our more memorable (i.e. ridiculous) jaunts into these wordy
never-never lands (which occurred on the roof porch of my building and
lasted until four in the morning), Misha was patient and courteous when I
suggested that maybe our lives are played out in the barely understood space
between an incomprehensible universe and an equally incomprehensible self.
Misha wanted to give ourselves more credit in the ability to understand
department.  In response, I referred to some of the books I've read.

This summer I will not be taking formal Turkish lessons, though I plan on
studying Turkish a lot; for example, translating newspaper articles and
writing and, with the help of Ismail and Sukran, trying to absorb more
deeply all that I have learned to date.  And I have learned a lot, including
an incredible amount of grammar and vocabulary.  Still, I wonder if this old
dog brain of mine is thinking less about the next meal than about where to
lay down afterwards.  My biggest problem -- among many, I know -- is
"hearing" Turkish.  (My two most used sentences are "Ne dediniz [What did
you say]?" and "Tekrar soyleyebilir misiniz [Can you say that again]?".)  I
will be buying a television (ugh!), as I've concluded that a television is
an important way to learn how to "hear" Turkish.

Most importantly, this summer I will finally be beginning a regular writing
program, writing for a least three hours a day, five days a week.
("Insallah [With god's help].")  That, coupled with work and Turkish (and my
reading), should keep me pretty busy and, hopefully, productive.  At least I
should be sending a few more e-mails.

More later.

Mark-O

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


Please note that the September Board meeting will take place on Thursday,
September 13, in London. Previous schedules listed the Board meeting as
taking place on the 12th, the day of our London update. As usual, the
meeting will begin at 12:00 noon with lunch followed by the meeting. I will
provide details separately on the location.

Please confirm your attendance for the September meeting.

The November meeting will be on Tuesday, November 13, in New York, as
previously notified.

Bob


---------------------- Forwarded by Kay Mann/Corp/Enron on 12/22/2000 09:17
AM ---------------------------

	Enron Global Finance

	From:  Mary Perkins @ ECT                           12/22/2000 08:41 AM

To: Fred Mitro/HOU/ECT@ECT, Kay Mann/Corp/Enron@Enron
cc:

Subject: Escrow

As I discussed with Fred this morning, attached are escrow agreements for
both Citibank and Chase.  Let me know which one you want to talk to and I
will hook you up with the agent.


fyi...............
---------------------- Forwarded by Beverly Beaty/HOU/ECT on 07/25/2000 07:57
AM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Evelyn Daniel" <Evelyn.Daniel@dvn.com>
07/24/2000 04:53 PM

To: <beverly.beaty@enron.com>
cc:
Subject: Albert Trevino 4-12, Tejas Pipeline, Trevino Plant Gas Sales

Hello:

Steve Holmes said I should e-mail you to let you know the above well
availability will change from 2 MMBtu/d to 8000 MMBtu/d effective 7/26/00.
It was in the process of fractionation.

Please call me at (405) 552-4585 if you have any questions.

Thanks.

Evelyn Daniel
Devon Energy


Ladies:

 I am working on this issue with Georgi.

Samantha M. Boyd
Senior Legal Specialist
Enron Wholesale Services
1400 Smith Street, EB3803
Houston, Texas 77002
Ph:  (713) 853-9188
Fax:  (713) 646-3490

-----Original Message-----
From: Landau, Georgi
Sent: Monday, October 01, 2001 3:28 PM
To: Bailey, Susan; Boyd, Samantha; Heard, Marie; Jones, Tana; Panus, Stephanie
Subject: LOUIS DREYFUS ENERGY CORP. and CMI
Importance: High

The Counterparty System indicates that Louis Dreyfus Energy Corp. CP#84 and CP #31950 were made inactive.  There is no reference to any other counterparty in the way of a merger, amalgamation etc.

Can you verify this information because we have an active contract in Global between Louis Dreyfus Energy Corp and CMI K#95000446.

Thanks for all your help.

Georgi Landau
Enron Net Works
(Ph) 713/345-4435
(Fx)  713/646-2495


These are the latest figures I have - I'm so sorry for the delay! I'm calling
Willie Harrell in Global Risk right now to determine why these prices are not
yet in pub posting and how we can come up with a more reliable system.

Kate
---------------------- Forwarded by Kate Symes/PDX/ECT on 04/03/2001 12:32 PM
---------------------------

djenergy <djenergy@dowjones.com> on 04/02/2001 04:12:53 PM
To:
cc: "Onukogu, Ernest" <Ernest.Onukogu@dowjones.com>, "Kogut, George"
<George.Kogut@dowjones.com>

Subject: COB

 - Cob.xls
---------------------- Forwarded by Kate Symes/PDX/ECT on 04/03/2001 12:32 PM
---------------------------

djenergy <djenergy@dowjones.com> on 04/02/2001 04:13:19 PM
To: undisclosed-recipients:;
cc:

Subject: SP15

 - SP 15 pages.xls
---------------------- Forwarded by Kate Symes/PDX/ECT on 04/03/2001 12:32 PM
---------------------------

djenergy <djenergy@dowjones.com> on 04/02/2001 04:13:13 PM
To:
cc: "Onukogu, Ernest" <Ernest.Onukogu@dowjones.com>, "Kogut, George"
<George.Kogut@dowjones.com>

Subject: Palo Verde

 - Palo.xls
---------------------- Forwarded by Kate Symes/PDX/ECT on 04/03/2001 12:32 PM
---------------------------

djenergy <djenergy@dowjones.com> on 04/02/2001 04:13:00 PM
To:
cc: "Onukogu, Ernest" <Ernest.Onukogu@dowjones.com>, "Kogut, George"
<George.Kogut@dowjones.com>

Subject: MeadMarketplace

 - MeadMktplace (2).xls
---------------------- Forwarded by Kate Symes/PDX/ECT on 04/03/2001 12:32 PM
---------------------------

djenergy <djenergy@dowjones.com> on 04/02/2001 04:13:05 PM
To:
cc: "Onukogu, Ernest" <Ernest.Onukogu@dowjones.com>, "Kogut, George"
<George.Kogut@dowjones.com>

Subject: Mid-Columbia

 - MidC.xls
---------------------- Forwarded by Kate Symes/PDX/ECT on 04/03/2001 12:32 PM
---------------------------

djenergy <djenergy@dowjones.com> on 04/02/2001 04:13:10 PM
To:
cc: "Onukogu, Ernest" <Ernest.Onukogu@dowjones.com>, "Kogut, George"
<George.Kogut@dowjones.com>

Subject: NP15

 - NP 15 pages.xls


Now that you have received the credit worksheet from Paul, what is the
status/timeline of getting an ISDA agreement I can forward to the customer?
Thanks for your assistance with this, - Mike

 -----Original Message-----
From:  Portz, David
Sent: Tuesday, May 15, 2001 5:19 PM
To: Shackleton, Sara
Cc: Curry, Mike
Subject: Frontera - ISDA Agreement

Sara-- Are you still the swaps lawyer to assist with this?  If not, would you
pass it to the person who can help Mike Curry with this?  Thanks.

----- Forwarded by David Portz/HOU/ECT on 05/15/2001 05:11 PM -----

	Mike Curry/ENRON@enronXgate 05/15/2001 04:47 PM 	   To: David
Portz/HOU/ECT@ECT  cc:   Subject: Frontera - ISDA Agreement

David, We want to be able to start performing financial trades with Frontera
so could you please prepare an ISDA Agreement for their review.  Thanks, -
Mike


Attached is a final draft of the LV Cogen Turbine Swap DASH.  The only variable at present is the payment schedule.  Upon verification of the payment schedule, we can commence circulation.  A FASH will follow-up shortly.

Regards,

Chip Schneider
713-853-1789
EB 2852


GT,  I will have an extra ticket for the game this weekend.  My friend who was going to go back out.  It is yours if you want to use it.  Let me know.


Mark -

Good suggestion.  I spoke to Scott Rebltiz who told me that important
decisions are to made this week at OPIC concering the Gaza project.  I will
work with Scott and John Hardy to make sure that our message is consistent
and helpful.  I will also work with Mac for a comprehensive update and
strategy.

-Chris

Mark Schroeder@ECT
02/09/2000 06:35 AM
To: Joe Hillings/Corp/Enron@ENRON, Chris Long/Corp/Enron@ENRON
cc: Steven J Kean/HOU/EES@EES, Mac
McClelland/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT

Subject: Department of Energy Pre-departure Briefing w/ Asst. Secy. Goldwyn

Joe?Chris - this covers some of my new turf.  We have, I am told, a power
project in Gaza that we are working on.  It is probably early days, but
perhpas Mac mcClelland in Dubai can shed some light on whether we would want
to get that project on the Secretary of Energy's radar screen.   mcs
---------------------- Forwarded by Mark Schroeder/LON/ECT on 09/02/2000
11:33 ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  Scott <s-mccarthy@bciu.org>                           08/02/2000 22:00

To: mahn@usccmail.bms.com, calbee@dfintl.com, dean.allen@pareuro.com,
falmeida_sikorsky@compuserve.com, emily.altman@msdw.com,
jambler@ei.enron.com, ardilal@sji.pasanjor.com, jfarminton@west.raytheon.com,
rarmstro@submarinesystems.com, wmarnold@sepiv.shellus.com,
julius_asboth@raytheon.com, batay@ccgate.reci.com, taustell3@msn.com,
azevedom@winstim.com, michael_j_ball@mail.northgrum.com,
jim.bambrick@farrell.com, hbarraza@stewart.com, marta.bascom@airtouch.com,
rogersbeall@compuserve.com, bill.beisswanger@ey.com,
GB191587@MSXSEPC.SHELL.COM, thane.benedict@chadbourne.com, eric.benn@bms.com,
cbennett@pfizer.com, bennett@pbworld.com, fberger@louisberger.com,
eberk@icfkaiser.com, bethaje@texaco.com, mbey@chevron.com,
nbillotti@tcco.com, gbirutis@arinc.com, joe.bizzano@nrgenergy.com,
kblanchard@haythecurley.com, martha_blaxall@dai.com, blockri@winstim.com,
jtbolden@cat.com, fmbonge@sepiv.shellus.com, carter.booth@chase.com,
kbosche@fioc.com, uwe.bott@gecapital.com, boydj@winstim.com,
jboyd@sfdrill.com, rboyd@enron.com, bbradford@tda.gov,
jbrand@telephonics.com, kevin_f_brennan@email.mobil.com,
jesus_briceno@raytheon.com, conrad_brown@res.raytheon.com,
brown@connellco.com, coresorces@aol.com, nburakow@icfkaiser.com,
reburgess@duke-energy.com, mburpoe@aol.com, harold_burson@bm.com,
kent_burton@ogden-energy.com, BurtonLD@bp.com, ljbuss@duke-energy.com,
tom.butler@chase.com, mitchell_s_butta@mail.northgrum.com,
campbellj@winstim.com, margaret.h.campbell@bellatlantic.com,
dick.carano@fluordaniel.com, dante.caravaggio@jacobs.com,
nestor.carbonell@pepsico.com, charles_l_carpenter@mail.northgrum.com,
fernando.carrizosa@wackenhutcorp.com, solardc@bellatlantic.net,
charles_caruso@merck.com, brian.casey@corporate.ge.com,
rcavey@americanstandard.com, chambej@md.ahp.com, chapmana@bp.com,
coresorces@aol.com, rohit.chaudhry@chadbourne.com,
armando_chavez@agilent.com, stevechesebro@pennzoil.com, pccjr@energy-usa.com,
michael_claes@bm.com, rclegg@bellhelicopter.textron.com,
marvin_e_clifton@email.mobil.com, ned.cloonan@aig.com, wclossey@lga.att.com,
galen.cobb@halliburton.com, mike_cochran@anadarko.com, stevec@hostpj.usa.com,
isabella.m.cointepas@sb.com, ecole@tamsconsultants.com,
jean.l.cole@exxon.sprint.com, michael_coleman@parsons.com, rjcolgan@cat.com,
barclay_collins@anadarko.com, stephanie.a.conaghan@chadbourne.com,
cconlon@tcco.com, grover@connellco.com, ted@connellco.com,
terry@connellco.com, jcook@saralee.com, dcooper@cromor.com,
sy_corenson@hp.com, robert_a_costa@res.raytheon.com, ron.t.covais@lmco.com,
coxfj@texaco.com, james_s_cox@mail.northgrum.com, dcrosson@dc.edelman.com,
susan_crowley@merck.com, fcummins@nacds.org, cunninghamj@epenergy.com,
scurley@haythecurley.com, darbym@ms.com, ian_davis@oxy.com,
nadavis@mail.hac.com, juan.deleon@jacobs.com, don.deline@halliburton.com,
diane_demers@dai.com, henry_somerville@fwc.com, o-dogruer@bciu.org,
adolcimascolo@tamsconsultants.com, chuck.dominy@halliburton.com,
j-donald@bciu.org, cduffy@mailer.kmec.com, eduffy@skadden.com,
loretta.dunn@hughes.com, steve.dutton@comsat.com, catherine_dwyer@nyl.com,
david.j.earnshaw@sb.com, dedelman@edelman.com, redelman@edelman.com,
saelbert@amoco.com, ellswp@pfizer.com, dewaem@pfizer.com,
everett_sally@bah.com, ralph_fairbanks@kmrpower.com, robert.fallon@chase.com,
larryfarmer@halliburton.com, mfarrar@mail.arco.com,
steve_farrar@guardian.com, afasciano@lucent.com, andrew.fawthrop@unocal.com,
paul_feldman@anadarko.com, mpfernandez-baca@duke-energy.com,
dfine@corp.sbc.com, louise.finnerty@pepsi.com, peter_finnerty@csx.com,
peter.fitzgerald@chadbourne.com, c_tanai_fleenor@parsons.com,
stephen.flett@aexp.com, George_A_Folsom@email.msn.com, fonseyp@texaco.com,
martyforte@mindspring.com, jefox@mintz.com, bfree@chubb.com,
orit.frenkel@corporate.ge.com, Howard.Frey@aig.com,
douglas.m.fried@chadbourne.com, cfrost@forbes.com, ken_frydman@edelman.com,
sfuller@chubb.com, michael.gadbaw@corporate.ge.com, lsgaibor@compuserve.com,
mgale@warnaco.com, marykelley.k.gannon@bellatlantic.com, sgarber@sfdrill.com,
gard6942@mlb.com, robert_gardner@email.mobil.com, wgardner@chubb.com,
garibaldic@sji.pasanjor.com, ken_gaulden@sealand.com, nomad68@earthlink.net,
eugene.gay@cpmx.saic.com, dgeanacopolous@akingump.com,
lynn.gedanken@chadbourne.com, georgen@epenergy.com,
ralph_gerson@guardian.com, peter.getsinger@db.com, sghilaga@nacds.org,
sghilaga@ultracom.net, gillespie@scowcroft.com, gillickj@winstim.com,
jon_d_glassman@mail.northgrum.com, kgoddard@pw-inc.com,
arlene_delapaz@md.northgrum.com, neil.golden@chadbourne.com, larry@pira.com,
enrique.l.gomez@lmco.com, randy.goode@sippican.com,
william.greason@chadbourne.com, green_candy_a@cat.com,
james_e_green@email.mobil.com, sgreen@unocal.com,
dave.gribbin@halliburton.com, griffm@winstim.com, jgroberg@volt.com,
grosswo@mail.northgrum.com, richard.guay@jacobs.com, k-gut@bciu.org,
dean.l.guttormson@exxon.sprint.com, robert_w_haines@email.mobil.com,
jwhakkinen@marathonoil.com, bill.hale@exxon.com, hall2r@kochind.com,
william_e_hall@parsons.com, kenneth.hansen@chadbourne.com,
kharbert@mailer.kmec.com, jhardy@ei.enron.com, harkinr@corpdc.utc.com,
billritten@aol.com, scott.a.harris@lmco.com, hastied9@compuserve.com,
lhay@chevron.com, brian_healy@merck.com, hedgep@pfizer.com,
fernando.hegel@wackenhutcorp.com, neville_henry@anadarko.com,
lynn_azar@anadarko.com, mherber@mail.arco.com, heroldra@bp.com,
harry.hicks@ey.com, hillj2@bp.com, thill@dfintl.com, jhillin@enron.com,
lsulliv@enron.com, james_hilton@parsons.com, santiago_hinojosa@bm.com,
hirshr@israelemb.org, hitchcock@pbworld.com,
thomas.hohenthaner@chadbourne.com, Irene-hollerback@ogden-energy.com,
richard_hook@anadarko.com, horn6945@mlb.com, shorsley@ti.com,
shorton@pbwt.com, jahoward@bechtel.com, peter.howell@citicorp.com,
henry.hsiang@aig.com, lhudson@unocal.com, huntington_erin_b@lilly.com,
bichord@unocal.com, j_anthony_imler@merck.com, wmir@chevron.com,
ashfaq@usa-intl.com, contact@usa-intl.com, ernest_r_jackson@raytheon.com,
jago@oldworldind.com, james.l.jamerson@lmco.com, jamesch1@mail.northgrum.com,
jarvisa@md.ahp.com, jjeffrey@dttus.com, mjichlin@louisberger.com,
oakley.johnson@aig.com, lionel.johnson@citicorp.com,
kevin.b.jordan@chadbourne.com, paul.kaiser@nrgenergy.com,
george_kappaz@kmrpower.com, rfolensbee@mailer.kmec.com,
al.kappelmann@libertymutual.com, rkarlgaard@forbes.com,
dickey_kathryn_m@lilly.com, patricia-katayama@dc.edelman.com,
diana.keegan@aig.com, kelleyb@epenergy.com, john.r.kelly@exxon.sprint.com,
kathleenkell@earthlink.com, donald_s_kendall@res.raytheon.com,
tim.kernan@fluordaniel.com, Joyce.Choate@FLUORCORP.com, skerr@mail.arco.com,
jkessler@porterwright.com, lk@lovainc.com, lovak@prodigy.net,
fking@bellhelicopter.textron.com, richard.g.kirkland@lmco.com,
helena.klumpp@chadbourne.com, jknight@fioc.com,
joy_l_koch@mail.northgrum.com, rkochman@volt.com, mkoprulu@mfi-ny.com,
pkorff@skadden.com, kostimv@texaco.com, ans.kristbergs@farrell-lines.com,
sandra_j_kristoff@newyorklife.com, Alex_Kulpecz@AZURIX.enron.com,
edward.kuncar@wackenhutcorp.com, jkuspa@mailer.kmec.com,
christoph.ladanyi@gs.com, glandegger@pw-inc.com, rlarios@corp.sbc.com,
laudienl@epenergy.com, lawrenjd@ix.netcom.com,
david_ledesma@AZURIX.enron.com, ed.lee@aig.com, leet@winstim.com,
denyse.lefever@lmco.com, richard_lehfeldt@missionenergy.com,
llenfest@oracle.com, cel@energy-usa.com, john.libonati@owenscorning.com,
jeff.lifur@chadbourne.com, duke.ligon@dvn.com, lynn_alleva@dai.com,
jerry.d.lindstrom@lmco.com, juan_llovet@parsons.com,
adriana.i.griffith@parsons.com, loderw@winstim.com, wlor@chevron.com,
losi@pbworld.com, andrew.loughlin@libertymutual.com, phil_luks@kmrpower.com,
rodney.j.macalister@usa.conoco.com, stuart.macdonald@chase.com,
madden@farrell-lines.com, wmaddox@bellhelicopter.textron.com,
mariella.mahan@enron.com, michael.d.maher@exxon.com, paul.mandry@avon.com,
marani@israelemb.org, cmarcenaro@louisberger.com, amarchetti@hess.com,
gary.c.marfin@usa.conoco.com, mmarino@tamsconsultants.com,
trudy.marshall@nrgenergy.com, craig.martin@jacobs.com,
joseph.martin@chase.com, keith.martin@chadbourne.com, momartin@estee.com,
pedro_martinez@raytheon.com, richard.mathews@avon.com,
bmay@bellhelicopter.textron.com, norman_c_mazurek@res.raytheon.com,
chemarie@monmouth.com, s-mccarthy@bciu.org,
jim.mccarty@libertyinternational.com, jmcfarla@us.oracle.com,
Bruce_C._McKay@CORP.CNG.COM, McLaughlin@pbworld.com, rmcphail@dttus.com,
james.g.melonas@bellatlantic.com, dgmengebier@cmsenergy.com,
sandy.merber@corporate.ge.com, michel@pbworld.com, don_mickelwait@dai.com,
milburi@mail.northgrum.com, jrmiller2@west.raytheon.com,
john_minihane@fwc.com, simeon_l_moats@email.mobil.com,
boyd.montgomery@unocal.com, cmoomjian@sfdrill.com, mmoore@acec.org,
mmorley@edelman.com, elambert.com@mindspring.com, stewart@stewart.com,
isabel_moya@dai.com, jmoyer@warnaco.com, rmulligan@chubb.com,
kevin.mulvey@aig.com, deborah.e.myers@sb.com, ken_nadolny@anadarko.com,
joyce_griffin@anadarko.com, tnanney@corp.sbc.com, naraf@winstim.com,
hernan.narea@chase.com, nathanh@winstim.com, r_d_nelson@email.mobil.com,
james.nelson@lmco.com, ted.nevins@aig.com, twnichol@oracle.com,
michael_nocera@newyorklife.com, Rmnorthrup@cat.com, nosseira@ms.com,
don_o'hare@sealand.com, olougga@mail.northgrum.com, brian.oneill@chase.com,
oneillm@labs.wyeth.com, oneill@pbworld.com, john.b.o'sullivan@chadbourne.com,
tolic@icnpharm.com, charlie.oliver@fluordaniel.com, josborne@stewart.com,
jeffrey_osborne@parsons.com, wayne.osterman@libertymutual.com,
paul.ostling@ey.com, bob.oswald@aexp.com, fpandith@mintz.com,
mpanic@icnpharm.com, robert.papas@corporate.ge.com, Nancy.Patton@parsons.com,
c-chris.pavlides@usa.conoco.com, jon.d.pender@sb.com,
greg_pensabene@anadarko.com, rperez_sikorsky@compuserve.com,
cperry@fcacorp.com, speske@aol.com, phillip.peters@ey.com, BPeters@volt.com,
karen.peterson@bms.com, daniel.c.petri@bellatlantic.com, fphelps@unocal.com,
barbara.phillips@airtouch.com, ann_pickard@email.mobil.com,
gapickart@cmsenergy.com, pierrelouisl@winstim.com, bud.piland@mcdermott.com,
bmay@bellhelicopter.textron.com, joe_pinto@hp.com, jeanne_hoerter@merck.com,
pollarb@corpdc.utc.com, dpolo@icfkaiser.com, fjp@symbolic.com,
jody.powers@halliburton.com, george_p_pradas@email.mobil.com,
preissj@corpdc.utc.com, prieto@pbworld.com, lprosser@dttus.com,
kpuvak@acec.org, jrafuse@unocal.com, rragan@bechtel.com,
rod_j_ragan@parsons.com, draymond@acec.org, eregan@tamsconsultants.com,
ReicheEA@bp.com, walt_reichert@hp.com, charles_o_richards@amoco.com,
tim.richards@corporate.ge.com, al_richey@anadarko.com, riverpw@texaco.com,
jack_roadhouse@parsons.com, joseph.robertson@wackenhutcorp.com,
irobins@volt.com, damian.robinson@aexp.com, vrocca@louisberger.com,
lberger@louisberger.com, eric.rohtla@aig.com, mrollin@mail.arco.com,
diana.roner@wackenhutcorp.com, rosaj@epenergy.com, kfrose@sepiv.shellus.com,
steven.rosenberg@hbo.com, larry_rosenblatt@email.mobil.com,
garyross@pira.com, Maria.Ruess@comsat.com, peter.ew.russell@chase.com,
steve_rutkowski@anadarko.com, bill.ryzinski@nrgenergy.com,
arthur.sackler@twi.com, esamara@worldspace.com, nsamara@worldspace.com,
antranig.sarkissian@citicorp.com, luis.sastre@lmco.com,
jsatterwhite@sikorsky.com, nancysauer@pennzoil.com, rsaul@phrma.org,
rscharar@fcacorp.com, jeschmeltzer@pbwt.com, william.schmidt@chadbourne.com,
pschnell@skadden.com, thomas.d.schoegler@lmco.com, rschofield@hess.com,
marilyn.schorin@intl.pepsi.com, mschroeder@enron.com,
pschuchter@mailer.kmec.com, aschwartz@pw-inc.com, bschweigel@oldworldind.com,
robert.shapiro@chadbourne.com, alan.j.shepherd@mw.com,
mollie.shields@bms.com, larry_g_shockley@parsons.com, sbsi@chevron.com,
william.h.siefken@lmco.com, kruskaia.sierra-escalante@chadbourne.com,
silkenatj@winstim.com, ronald.singer@ae.ge.com, elliott.slade@db.com,
denis_slavich@kmrpower.com, midges@ms.com, steve.smith@gecapital.com,
sandy.o'meara@gecapital.com, jack.w.snyder@lmco.com, solbera@texaco.com,
solliea@texaco.com, francis.stankard@aexp.com, rystebbin@aol.com,
mstewart@dc.textron.com, pstirlin@us.oracle.com, dcarlson@mailer.kmec.com,
astraus@skadden.com, eugene.r.sullivan@chadbourne.com,
bill_sullivan@anadarko.com, mark.f.supko@lmco.com, sally.susman@aexp.com,
david.syphard@crssc.com, president@artleygroup.com, VTarallo@aol.com,
tarbels@pweh.com, stephen_s_teel@res.raytheon.com, arthur.thomas@ey.com,
c_nigel_thompson@merck.com, dick.thompson@bms.com, thorn@ei.enron.com,
bthornton@fwtxusa.org, james_e_thrash@parsons.com, p-tichansky@bciu.org,
jim.e.tobin@aexp.com, john.tognino@nasdaq.com, luis.torres@chadbourne.com,
TownshME@bp.com, strendic@us.oracle.com, trevijm@texaco.com,
jacktymann@aol.com, jtymann@worldspace.com, elizabeth.a.tyson@sb.com,
ulrich@pbworld.com, urbans@eu1.bp.com, munnj1@bp.com,
gvandyke@vancoenergy.com, philip.vaughn@fluordaniel.com,
andy_veje@parsons.com, frank.verrastro@dvn.com, aracelia.vila@spcorp.com,
judith.a.vincent@usa.conoco.com, evis65677@aol.com,
vlachpa@mail.northgrum.com, chaim.wachsberger@chadbourne.com,
jwalden@vancoenergy.com, peter_walters@guardian.com,
averhulst@worldnet.att.net, eward@skadden.com,
kenneth.j.warnock@bellatlantic.com, c-watson@bciu.org,
mweaver@fortworthchamber.com, paul.weber@chadbourne.com,
thomas_h_weese@ccgate.ueci.com, jwei@haythecurley.com, v-weil@bciu.org,
joel.a.weiss@lmco.com, dwestfa@enron.com, john_m_white@eo.raytheon.com,
jwhitman@nacds.org, scott_whitney@ogden-energy.com, jim_whittaker@hp.com,
guenther.o.wilhelm@exxon.com, t-wilkes@bciu.org, cwilkison@worldspace.com,
ron.will@nrgenergy.com, elizabeth.f.williamson@usa.conoco.com,
dwillkens@dfintl.com, scarbroughs_plum@usa.net,
Debra_Winchester@res.raytheon.com, cwindels@pfizer.com, frank.wisner@aig.com,
wisnoskik@epenergy.com, dwolff@louisberger.com, ctompkins@louisberger.com,
kwoodcock@aesc.com, sross@aesc.com, WoodsHR@bp.com,
ewright@west.raytheon.com, wrightp12@bp.com, fouquepa@bp.com,
oyandle@itsa.org, yannif@labs.wyeth.com, cordelia_m._yoon@newyorklife.com,
lzak@mintz.com, ezsol@aol.com, lawrence.ziman@chadbourne.com,
czimmerman@dfintl.com, dzsebik_sikorsky@compuserve.com
cc:

Subject: Department of Energy Pre-departure Briefing w/ Asst. Secy. Goldwyn

TO:  BCIU Members
FROM: Scott McCarthy
  Director of Programs
  Ph: 212-490-0460, ext. 224
  Fx: 212-697-8526

PRE-DEPARTURE BRIEFING

BCIU and the U.S. Department of Energy are pleased to announce an industry
briefing with:

ASSISTANT SECRETARY OF ENERGY DAVID GOLDWYN
IN PREPARATION FOR ENERGY SECRETARY BILL RICHARDSON'S
MIDDLE EAST TRIP
(EGYPT, ISRAEL, PALESTINIAN AUTHORITY,
 KUWAIT, AND SAUDI ARABIA)

DATE: Thursday, February 17, 2000
TIME: 10:30 a.m. - 11:30 a.m.
PLACE: Department of Energy
  Room 7C016
  1000 Independence Avenue, S.W.
  Washington, DC 20036

Secretary of Energy Bill Richardson is visiting the Middle East February
19-26 where he will meet with officials in Egypt, Israel, the Palestinian
Authority, Kuwait and Saudi Arabia.  He is expected to sign bilateral
Science and Technology Agreements (or annexes to existing agreements)
focused on solar and renewable energy, advanced power systems, and/or
electric vehicle programs with Egypt and Israel, as well as an Energy
Cooperation Agreement with the Palestinian Authority.  He will meet the
leaderships of Kuwait and Saudi Arabia on international oil company
involvement in the upstream oil sector and other issues important to U.S.
industry.

BCIU invites you to join Department of Energy Assistant Secretary for
International Affairs David Goldwyn, Deputy Assistant Secretary Theresa
Fariello, Special Assistant to Secretary Richardson for Policy Rachel King,
and Director for NIS, Russia and Middle East Affairs Len Coburn for an
industry roundtable in preparation for this visit.  Companies are
encouraged to bring background material for the Secretary's use during the
trip to this meeting if they have not been provided to the Department of
Energy previously.

If you have any questions regarding this program, please contact Jeffrey
Donald at tel. (202) 775-6074, fax: (202) 775-6025; E-MAIL j-donald@bciu.org.
-------------------------------------------------------------
If you would like to attend, please complete the form below and respond via
reply e-mail OR fax your reservation to (202) 775-6025.

Name:____________________ Title:__________________________

Social Security Number (for clearance into
 the Department of Energy):______________________

Company:__________________________________________________

Address:__________________________________________________

Phone:__________________   Fax:______________________

Email:___________________________________

Program number: 3750JD


This is a long one... Let me know if you have specific follow-up.

RJ

EXECUTIVE SUMMARY
California Senate's MOU Debated in State Assembly
Coordinating the California Legislature
CPUC's Rate Setting Authority In Question
Highlights from the SoCal Investor Conference Call

MOU
As reported earlier, SB 78XX (the leading SoCal rescue adopted by the CA Senate) has undergone minor amendments by the California Assembly.  Three important revisions on the bill are:
In regard to commercial rates, the assembly has now left open the definition of large or "industrial users" by eliminating the previous 500 kWh+ usage requirement.  This change could enable the Assembly to categorize either smaller or larger consumers into the industrial/commercial user status
The bill would not become effective unless SB 39XX is signed into law.  SB 39XX  (authored by Sen. Speier) is regarding the CPUC's authority over utilities and generators in California; it places certain generation that was purchased by Reliant, Dynegy, etc. from the utilities after deregulation under PUC authority.
The State's purchase of the SoCal Ed. transmission lines has been removed.

AB 82XX was also revised by the Assembly with many of the deleted provisions duplicate in SB 78XX, such as the conservation lands and the option to buy the transmission lines.  Additionally, AB 82XX can not be enacted unless SB 1XX (the windfall profits bill) is signed.  The joining of 78XX to SB 39XX and of 82XX to 1XX is very likely a method by which the Assembly is pressuring the governor to sign these other bills, which otherwise might not have been enrolled.  However, the joining of these bills makes their passage more difficult.  The remaining provisions of AB 82XX are as follows:
Renewables Portfolio
Direct Access
Ratepayer Refund Account (changed the name to Ratepayer Benefit Account)
Balancing Account for SCE procurement of power
DRC replaced with non-bypassable charge option for MOU.  This includes reference to balancing account, recovery of reasonable procurement costs, and the prohibition of reasonableness review on contracts by PUC.

Putting the MOU to a Vote
The Speaker feels that everything in these bills has been discussed already, so nothing is really new. Hertzberg met with advisors Wednesday night (10:00 pm) to decide if the Assembly will convene on Friday. It probably has a lot to do with the ability to get enough members' support of these measures and willingness to go back to Sacramento. Many are vacationing; some in other countries. If there is an Assembly session on Friday, he plans to have an informational hearing on the measure today.  If the Assembly's session fails to convene Friday, it is unclear what he intends to do.  On the other side of the equation, it is unlikely that Senator Burton will bring the Senate back into session to approve this bill.  The Senate won't even consider it until it comes back from recess, but the Assembly feels it is their responsibility, thereby putting the onus back on the Senate. Apparently there is really no coordination between the leadership of the different houses.
While SB 78XX and AB 82XX are the most publicized bills, neither bill will be the actual legislative vehicle for these provisions.  The proposed content of these bills will be amended into other bills which are further along in the process, thereby eliminating the need to waive a number of rules and hold numerous hearings.  This will speed up the process. Apparently the Speaker's office has not yet identified the actual bills that will be used. But they hope to find bills that are so far along in the legislative process that if the Assembly passes the bills they will not be able to be amended in the Senate.  It does appear that the Assembly does intend to send these through as two separate bills, though, with the SB 78XX provisions in one bill and the AB 82XX provisions in another.

CPUC, Rate Setting Authority or Rate Setting Minority
Recently, the California Assembly has pursued a legislative provision that would enable lawmakers to abrogate the CPUC's rate-setting authority and hand over that power to the California legislature.  Politically, this gives the Governor the ability to say, if rates increase automatically, that he did not approve of the rate increase, and there is nothing he can do about it.  But it also gives Wall Street buyers of California's revenue bonds assurances that no matter what the need, there will always be enough revenue to back revenue bonds payments; thus deniability to ratepayers and certainty for bondholders.

Were this provision to pass, the CPUC would still retain oversight of rates for the investor owned utilities.  As for DWR, under the draft rate agreement proposed by the CPUC, it contains a mechanism for the Commission to use in setting electricity rates that satisfy DWR's "revenue requirement." DWR's revenue requirements include bond-related costs, operating costs (such as power purchase costs), and administrative costs.  AB1X provided for energy-related bonds to be sold by the state to support DWR's power purchases.  Because power contracts require DWR to pay for power before it makes bond payments, and DWR must sell power to obtain revenues, the rate-setting mechanism in the rate agreement also applies to DWR's power purchases not just its bond payments. Note that if the Commission adopts a rate agreement, it becomes irrevocable.
-The draft agreement also includes a provision stating that the CPUC will take the DWR at its word as to its retail revenue requirements.
The agreement would require that the CPUC set rates meeting DWR's requirements in either 30 or 90 days. The 90-day mechanism applies whenever DWR submits a revenue requirement. The 30-day mechanism applies when DWR anticipates or actually draws on its reserves.
The rate agreement includes an enforceable covenant by the CPUC specifying how the Commission will set rates to meet DWR's revenue requirements (which includes both bond costs and operating costs).

If the CPUC's draft rate agreement is approved, there will be no legislative or PUC oversight of any of those costs, and no opportunity for public comment for as long as bonds are outstanding.  If a rate agreement can be avoided, there will be opportunities to review and alter the agreement's demand management and administrative costs.  Either way, power contract costs remain an obligation of DWR and cannot be altered except by mutual consent of DWR and the contractor.

SoCal Edison Investor Conference Call
The following are notes from the SoCal Edison conference call with holders of defaulted debt, 24 July 2001, 1:30 PDT:

In order for California to sell their revenue-bonds with an investment grade rating, two criterion must be met; 1) there must be a rate-supported, dedicated revenue stream in place and 2) the legislature must have the power to override of the CPUC's rate setting authority and raise rates if necessary.  The second criterion, however,  faces significant opposition from the California State Constitution.
Regarding the DWR rate requirement, Craver, the spokesperson for SoCal,  stated that SoCal is evaluating the numbers, particularly on the DWR side.  He stated that if you accept their output of models and numbers, it appears this requirement would fit within the existing rate structure.  However, "we need to remember that deregulation started with forecasts that proved to be wrong".  Therefore, this is "risky" in that SoCal is faced with "fixed revenues and floating costs."  Unlike DWR, SoCal has no ability to adjust rates based on costs, making floating natural gas prices a risk.
Prudential asked, if based on the Hertzberg legislation, the sale of the transmission assets is now off the table.  SoCal responded that this is correct.  Prudential asked if SoCal could then anticipate more securitization, i.e., be securitized for all but $500 million with an option to buy the transmission assets at book for 5 years.  SoCal responded that it was "unclear what the pricing [of the transmission assets] would be, but there would be an option" for the state to purchase the transmission assets.
Prudential asked about the status of the remaining (non-legislative) implementing decisions on the MOU and if the legislation (78XX and 82XX) contains them.  SoCal responded that there are 3 outstanding issues remaining for implementing the MOU:
	1) Ratemaking for the utilities' retained generation:  The PUC is holding hearings on this issue this week.  These hearings have slowed the process. A decision is expected by the end of August.
	2) A procurement plan for the utility: This plan is before the PUC.  SoCal suggested the PUC may be waiting to see what passes the legislature before acting on this point.  Regardless, the company needs an "adequate balancing account with an automatic rate trigger."
	3) Clarification on the utility holding company's position regarding 1st priority:  On this front, the PUC asserted its jurisdiction over all three utilities and their holding companies.  The three holding companies have challenged this decision.  Commissioner Bilas has written a draft decision in favor of the challenge; a final decision is expected as soon as Thursday. This would clarify that the utilities have first call on investment from the holding companies, but that the holding companies are not obligated to pay the debts of the utilities.
Deutsche Bank asked if, in SoCal's numbers reported to date, it was assuming the charges for ancillary services.  SoCal responded that DWR had confirmed as of 18 January that it would pick up these charges.  These charges would otherwise amount to $800 million - $1 billion in additional revenue requirement for the utility.  Based on FERC rulings, SoCal had not been counting on paying these charges, so they are not reflected in the company's numbers.  However, SoCal will be paying grid management and uplift charges.  They anticipate paying "some portion" of these charges.  This could potentially require an amended URG filing.
Citigroup asked where Edison stands on the Edison Mission Energy issues.  Edison responded that they are "working on new facilities on the bank side." The current facilities expire on October 10th or 11th.  Edison indicated it is in the process of finalizing sales of approximately 1,000MW of non-strategic assets.  They are in negotiations with the final bidders except for Hopewell, which is done.  There is no specific timeline on when the deals will be announced, but it is a matter of days to a week.
Appalucia Management asked if, on SoCal's generation, DWR is assuming a cost-plus or retail rate.  SoCal responded that it uses cost-of-service based rates.  The return on the 12/31/00 rate basis is approximately 4 1/2 cents.  The $72.77 stipulated covers SoCal's generation, its contracted generation, QF costs (which were quoted as the most significant portion) and uncollectables.  This is driven by gas costs for the QFs.  Revenue is fixed at $73.00.


To get immediate response on an EOL issue, such as a next day deal that is
not showing up in Sitara, either call me at 3-5824
or Torrey Moorer at 3-6218. If you are unable to reach either one of us,
please page us at the following numbers. Please pass
this information to others in your group.
Thank you.

Jennifer de Boisblanc Denny  1-877-473-1343
Torrey Moorer     1-877-473-1344


Tomorrow night could work - doing an analyst and associate recruiting dinner on Thurs.  Let me know.

 -----Original Message-----
From: 	Presto, Kevin M.
Sent:	Tuesday, October 23, 2001 6:20 PM
To:	Herndon, Rogers
Subject:	RE: Curve Changes

Probably Wayne Herndon.   We need to lock him down ASAP.   You and I need to have a beer this week to discuss ENE in general and what you want to do next.

 -----Original Message-----
From: 	Herndon, Rogers
Sent:	Tuesday, October 23, 2001 6:16 PM
To:	Presto, Kevin M.
Subject:	RE: Curve Changes

Also,  I am concerned that Narsimha may have someone from the outside trying to recruit him.  I am pressing him on the contract and he is telling me everything's ok - lawyer reviewing, etc.  I am going to give him another day or so and then just call him on it.  I think there is better money out there, even in this market and do not want to lose him.  Honestly, Joe, Juan and Narsimha are the only commodity guys I can count on to do what is right - amazing.  You may want to ask Narsimha about the contract if you see him.

Rogers

 -----Original Message-----
From: 	Presto, Kevin M.
Sent:	Tuesday, October 23, 2001 6:05 PM
To:	Herndon, Rogers
Subject:	RE: Curve Changes

I agree with this approach and I'm fine with this allocation.   My objective is to get everything as accurate as possible so the proper price signal is being sent to retail and wholesale origination.   I caught the scalar issue when we were looking at 4 hour tolls vs. 8 hour tolls vs. 16 hour and I could tell there was a disconnect.

thanks.

 -----Original Message-----
From: 	Herndon, Rogers
Sent:	Tuesday, October 23, 2001 6:02 PM
To:	Presto, Kevin M.
Subject:	RE: Curve Changes

I think it is appropriate to instruct Risk to put the charges associated with the PJM scalar in the Change Deal Bucket as this was out of the Retail Commodity Group's control.  I am trying to hold these guys accountable for positions, p/l and such and I think this is the only way to fairly account for results that they could affect vs. someone else's error/mismark.  Let me know if you think this is appropriate.

 -----Original Message-----
From: 	Presto, Kevin M.
Sent:	Tuesday, October 23, 2001 4:51 PM
To:	Herndon, Rogers
Subject:	RE: Curve Changes

I have sent the message again to make curves as accurate as possible through 2015.    We are doing are best.   The Entergy situation was simply a back office mistake.   The NY off-peak is a work in progress and will get better every day.   The legs never trade, only the cals, therefore, we have to use common sense for month values.

Thanks for the info.   In most cases, Narsima is exactly right.

 -----Original Message-----
From: 	Herndon, Rogers
Sent:	Tuesday, October 23, 2001 3:19 PM
To:	Presto, Kevin M.
Subject:	FW: Curve Changes

FYI.

 -----Original Message-----
From: 	Misra, Narsimha
Sent:	Tuesday, October 23, 2001 3:10 PM
To:	Herndon, Rogers
Subject:	Curve Changes

Here are the significant (non market related) curve changes that have effected our P&L in the last week...and also a working issue related with curve management.

PJM East Hub:
   Summary : Hourly Scalars for East hub were changed, resulting in a ($2.3 million) loss.
   Reasons : Rob Benson had changed the West hub scalars a few months ago and those scalar changes never got transfered over to the East Hub curves. When the curve management function was moved from excel into the Enpower Curve Management system all the curves derived as a basis off West Hub curves started using the West Hub Scalars.

Entergy Back End:
  Summary : Yesterday, Entergy 05 and beyond curves moved down in the range of $0.50/MWh to $1.65/MWh resulting in a loss of approximately $2.3million (held back because Mike Carson is fixing the curves today)

NY Curves:
  Summary : The onpeak and offpeak curves for NY Zones A, G and J require a thorough clean up especially with regards to the issues that are stated below. The P&L is still to be determined because curves have not been changed.

On Peak
1.  J-G Spread is marked over G-A Spread starting in Year 2009.
2.  J-A Spread blows up year on year, starting in Year 2005.

Offpeak
1.  Zone-G is marked above Zone-J half of the time;  occuring mostly in Q1, Q4 and Aug.
2.  Zone-A is marked above Zone-J every July in 2003-2006.  With the exception of 2002, for the month of July, Zone-A is marginally marked below Zone-J.
3.  Zone-A is marked above Zone-G for every July from 2003 to 2018 and Dec 2003.
4.  Zone-A, for every year, MarApr is over MayJun by a significant amount.


Russell, pls set up credit terms for customer for transactions under the
physical, which may include pricing amemdments. i.e. the MTM risk may sit
under the physical agreement.

At this time, we are not going to pursue the execution of a deemed ISDA and
any price amendments will be handled physicaly.

Call if there are any questions.

BT

 -----Original Message-----
From:  Diamond, Russell
Sent: Tuesday, May 29, 2001 1:07 PM
To: Leite, Francisco Pinto
Cc: Tycholiz, Barry; Nemec, Gerald
Subject: Mexican de Cobre -Deemed ISDA Credit Worksheet

Francisco,

Attached is a credit worksheet for a draft deemed ISDA.

Thanks
Russell

 << File: Mexicana de Cobre_ENA.xls >>


sorry about that - misdirected to you.
---------------------- Forwarded by Mark - ECT Legal Taylor/HOU/ECT on
06/23/99 01:51 PM ---------------------------
To: Mark EI.London Taylor@Enron
cc:
Subject: Trading Web Site

I hope ours looks better than this:

http://www.unioncal.com/


Louise.

I would love to come but I'm on holiday.  I do have some thoughts and would
love to share them with you.


NOTE FROM MARK FREVERT

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

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

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

BUSINESS HIGHLIGHTS

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

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

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

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

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

&THE PULSE8 SURVEY RESULTS

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

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

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

WELCOME

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

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

IN THE NEWS

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

NUGGETS & NOTES

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

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

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

CONTEST

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


Ben -

Why don't you try to go to this as well.

Mitch
---------------------- Forwarded by Mitch Robinson/Corp/Enron on 12/11/2000
04:39 PM ---------------------------

Felicia Doan@ECT
12/11/2000 04:24 PM
To: Rudy Acevedo/HOU/ECT@ECT, Diana Allen/Corp/Enron@ENRON, Russell
Ballato/NA/Enron@Enron, Ted Ballinger/NA/Enron@Enron, Don
Baughman/HOU/ECT@ECT, Edward D Baughman/HOU/ECT@ECT, Corry
Bentley/HOU/ECT@ECT, Robert Benson/Corp/Enron@ENRON, Tamara Jae
Black/HOU/ECT@ECT, Lisa Burnett/Corp/Enron@Enron, Paul J
Broderick/HOU/ECT@ECT, Richard Broussard/Corp/Enron@Enron, Larry F
Campbell/NA/Enron@Enron, Mike Carson/Corp/Enron@Enron, Jason
Choate/Corp/Enron@ENRON, Lawrence Clayton/Corp/Enron@Enron, Kevin
Cline/Corp/Enron@Enron, Terri Clynes/HOU/ECT@ECT, Keith
Comeaux/Corp/Enron@Enron, Karla Compean/HOU/ECT@ECT, Kayne
Coulter/HOU/ECT@ECT, Jason Crawford/Corp/Enron@Enron, Mike Curry/HOU/ECT@ECT,
Oscar Dalton/HOU/ECT@ECT, Mark Dana Davis/HOU/ECT@ECT, Clint
Dean/Corp/Enron@Enron, Todd DeCook/Corp/Enron@Enron, George
Diaz/Corp/Enron@ENRON, Felicia Doan/HOU/ECT@ECT, Chris Dorland/HOU/ECT@ECT,
Tom Dutta/HOU/ECT@ECT, Joe Errigo/Corp/Enron@Enron, David
Fairley/HOU/ECT@ECT, Miguel L Garcia/NA/Enron@ENRON, Gerald
Gilbert/HOU/ECT@ECT, Doug Gilbert-Smith/Corp/Enron@ENRON, Joe
Gordon/Corp/Enron@Enron, Gautam Gupta/HOU/ECT@ECT, Patrick Hanse/HOU/ECT@ECT,
Brent Hebert/HOU/ECT@ect, Juan Hernandez/Corp/Enron@ENRON, Rogers
Herndon/HOU/ECT@ect, Wayne Herndon/Corp/Enron@ENRON, George
Hopley/HOU/ECT@ect, Jim Homco/HOU/ECT@ECT, Richard Hrabal/HOU/ECT@ect, Rika
Imai/NA/Enron@Enron, Alton Jackson/Corp/Enron@Enron, Larry
Jester/Corp/Enron@ENRON, Gary Justice/NA/Enron@Enron, Mike E
Kelly/NA/Enron@Enron, Grace Kim/NA/Enron@Enron, Jeff King/Corp/Enron@Enron,
John Kinser/HOU/ECT@ECT, Madhup Kumar/Corp/Enron@ENRON, Dean
Laurent/HOU/ECT@ECT, Justin Laverell/Corp/Enron@ENRON, Chris
Lenartowicz/Corp/Enron@ENRON, John Llodra/Corp/Enron@ENRON, Matt
Lorenz/HOU/ECT@ECT, Gretchen Lotz/HOU/ECT@ECT, Peter Makkai/NA/Enron@Enron,
Dave Mangskau/Corp/Enron@ENRON, Posey Martinez/HOU/ECT@ECT, Tom
May/Corp/Enron@Enron, Keller Mayeaux/Corp/Enron@Enron, Doug
Miller/Corp/Enron@Enron, Jeffrey Miller/NA/Enron@Enron, Narsimha
Misra/NA/Enron@Enron, Christi L Nicolay/HOU/ECT@ECT, Steve
Olinde/Corp/Enron@Enron, Andy Pace/NA/Enron@Enron, Juan
Padron/NA/Enron@Enron, Ricardo Perez/NA/Enron@Enron, Joseph
Piotrowski/NA/Enron@Enron, Laura Podurgiel/HOU/ECT@ECT, Kevin M
Presto/HOU/ECT@ECT, Cyril Price/HOU/ECT@ECT, Joe Quenet/NA/Enron@Enron, Mitch
Robinson/Corp/Enron@Enron, Bill Rust/HOU/ECT@ECT, David
Ryan/Corp/Enron@ENRON, Eric Saibi/Corp/Enron@ENRON, Zachary
Sampson/NA/Enron@ENRON, Anna Santucci/NA/Enron@Enron, Janelle
Scheuer/HOU/ECT@ECT, Kyle Schultz/HOU/ECT@ECT, Erik Serio/Corp/Enron@Enron,
Doug Sewell/HOU/ECT@ECT, Robert Stalford/NA/Enron@Enron, Chad
Starnes/Corp/Enron@Enron, Joe Stepenovitch/Corp/Enron@Enron, Mark
Symms/Corp/Enron@ENRON, Ramanarao Tamma/NA/Enron@Enron, James E
Terrell/HOU/ECT@ECT, Garrett Tripp/TOR/ECT@ECT, Greg Trefz/Corp/Enron@ENRON,
Larry Valderrama/HOU/ECT@ECT, Maria Valdes/Corp/Enron@Enron, Jewell
Wade/NA/Enron@Enron, Joseph Wagner/NA/Enron@Enron, Christopher
Watts/NA/Enron@Enron, Lloyd Will/HOU/ECT@ECT, Jay Wills/Corp/Enron@ENRON,
George Wood/Corp/Enron@Enron, Richard Broussard/Corp/Enron@Enron, Keith
Comeaux/Corp/Enron@Enron, Jason Crawford/Corp/Enron@Enron, George
Diaz/Corp/Enron@ENRON, Brent Hebert/HOU/ECT@ect, Jim Homco/HOU/ECT@ECT, Alton
Jackson/Corp/Enron@Enron, Justin Laverell/Corp/Enron@ENRON, Chris
Lenartowicz/Corp/Enron@ENRON, Steve Olinde/Corp/Enron@Enron, Mitch
Robinson/Corp/Enron@Enron, Erik Serio/Corp/Enron@Enron, Felicia
Doan/HOU/ECT@ECT, Paul D Thomas/NA/Enron@Enron, Alan Chen/Corp/Enron@Enron
cc:

Subject: Re: seminar on beyond ols

There will be an "Introduction to Electricity Market Models" seminar on
Tuesday, December 19, 2000 @ 3:30PM in Conf. Room 30C1.  Please plan on
attending.  If you should need additional information or have any further
questions, please contact George Hopley at ext. 3-9463.

Many Thanks,

Felicia
for George Hopley

---------------------- Forwarded by Felicia Doan/HOU/ECT on 12/11/2000 04:12
PM ---------------------------

George Hopley
12/08/2000 05:30 PM
To: Felicia Doan/HOU/ECT@ECT
cc:
Subject: Re: seminar on beyond ols

Can you send out an email announcing a meeting conducted
by Enron Research concerning;

Introduction to electricity market models
Their approach to the process including
including non-linear aspects.

Details as below,

Please send out to analysts, specialists, mid-marketers and traders.

Thanks

George

---------------------- Forwarded by George Hopley/HOU/ECT on 12/08/2000 05:20
PM ---------------------------

Vince J Kaminski
12/08/2000 08:31 AM
To: George Hopley/HOU/ECT@ect
cc: Vince J Kaminski/HOU/ECT@ECT, Clayton Vernon/Corp/Enron@ENRON, Vasant
Shanbhogue/HOU/ECT@ECT
Subject: Re: seminar on beyond ols

George,

Let's move the meeting to 3:30 on Tuesday,
December 19.

Vince

George Hopley
12/07/2000 05:38 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc: Clayton Vernon/Corp/Enron@ENRON
Subject: Re: seminar on beyond ols

Vince -

I certainly appreciate the opportunity to have our group attend
a session given by Enron Research.  While afternoons are typically
the best time to meet, we do have a trader's meeting each Mon & Wed
at 3:30.  If we can accomodate this regular meeting either by scheduling
an earlier meeting on Monday or going for Tue/Thurs, that would be
great.  Otherwise we can go ahead with the Mon @ 3:30 with an audience
that might be a bit smaller.

Thanks again

George

---------------------- Forwarded by Clayton Vernon/Corp/Enron on 12/07/2000
05:20 PM ---------------------------

Vince J Kaminski@ECT
12/07/2000 03:24 PM
To: Clayton Vernon/Corp/Enron@ENRON
cc: Vasant Shanbhogue/HOU/ECT@ECT, Vince J Kaminski/HOU/ECT@ECT

Subject: Re: seminar on beyond ols

Clayton,

We can offer the seminar / discussion session on Monday, December 18,
at 3:30. Please, let me know if this would work.

Vince


I verified the Wheatland test data in the reports.  Keep the MW's and Heat
Rates I gave you.

Rick


So, what is it?   And by the way, don't start with the excuses.   You're
expected to be a full, gourmet cook.

Kisses, not music, makes cooking a more enjoyable experience.

"Jennifer White" <jenwhite7@zdnetonebox.com> on 10/17/2000 04:19:20 PM
To: jarnold@enron.com
cc:
Subject: Hi

I told you I have a long email address.

I've decided what to prepare for dinner tomorrow.  I hope you aren't
expecting anything extravagant because my culinary skills haven't been
put to use in a while.  My only request is that your stereo works.  Music
makes cooking a more enjoyable experience.

Watch the debate if you are home tonight.  I want a report tomorrow...
Jen

___________________________________________________________________
To get your own FREE ZDNet Onebox - FREE voicemail, email, and fax,
all in one place - sign up today at http://www.zdnetonebox.com


Louise has no problem as long as approved by legal and credit

 -----Original Message-----
From: 	Vanek, Darren
Sent:	Friday, October 19, 2001 11:22 AM
To:	Arnold, John
Subject:	RE:

John-
Have you had the chance to speak to Louise about individuals trading on EOL?

 -----Original Message-----
From: 	Arnold, John
Sent:	Wednesday, October 17, 2001 4:41 PM
To:	Vanek, Darren
Subject:

Darren:
I think Dutch Quigley spoke to you about an individual who is trying to get set up with EOL for his personal account.  The person is Tony Annunziata from the Smith Barney AAA fund.  He meets the suitability tests as far as net worth and knowledgable investor.  He is also willing to post via LC or wire.  I gave him your number.  I would appreciate if you could expedite his credit application.

Thanks,
John


I had a HUGE lunch (Vincent's), so something  light sounds good.  We could do
the usual appetizers at Grotto.

"Neil Mann" <nmann@erac.com> on 01/10/2001 06:03:44 PM
Please respond to <nmann@erac.com>
To: <Kay.Mann@enron.com>
cc:

Subject: RE:

Yes. Paige will watch the menagerie. Where would you like to meet? NM

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Wednesday, January 10, 2001 5:31 PM
To: nmann@erac.com
Subject: RE:

So do we have someone to watch the menagerie?

I can probably get out around 600.  I could probably leave sooner, but I
wouldn't get anywhere any quicker!

ckm

"Neil Mann" <nmann@erac.com> on 01/10/2001 05:37:48 PM

Please respond to <nmann@erac.com>

To:   <Kay.Mann@enron.com>
cc:

Subject:  RE:

So can I buy you dinner and a drink? NM

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Wednesday, January 10, 2001 5:13 PM
To: nmann@erac.com
Subject: RE:

I haven't talked to Ozzie today.  When I spoke with him last night, we were
arranging to meet in NYC next Wednesday, and I told him we could celebrate
there.

ckm

"Neil Mann" <nmann@erac.com> on 01/10/2001 05:20:09 PM

Please respond to <nmann@erac.com>

To:   <Kay.Mann@enron.com>
cc:

Subject:  RE:

Our computers and phones have been going up and down all day long.
Are you guys still going out tonight? Please let me know if your plans
change and maybe your husband could take you out. NM

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Wednesday, January 10, 2001 4:28 PM
To: nmann@erac.com
Subject: RE:

One.

"Neil Mann" <nmann@erac.com> on 01/10/2001 04:20:25 PM

Please respond to <nmann@erac.com>

To:   <Kay.Mann@enron.com>
cc:

Subject:  RE:

Have you received any e-mail from me?  NM

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Wednesday, January 10, 2001 3:45 PM
To: nmann@erac.com
Subject:

The closing dinner for the big financing will be on Feb. 8.

Just thought I'd keep you current!

Love,

Kay


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Click on the doc link below to view the message.

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

Enron Happenings
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Enron Volunteer Opportunities
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Involved Employees
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