Steve,

The Secretary of Energy Ernesto Martens used to be the CEO of VITRO, our
client in for the Monterrey Project.  He was a board member until the day of
his appointment.  He knows Enron well.  He used to be the President and CEO
of CINTRA the holding company for Mexicana and Aeromexico airlines.  When I
worked at McKinsey I was engaged in projects with CINTRA for two years.
Martens has a reputation of being a good and tough manager.  He delivers.
On the other hand he also has a reputation of being stubborn and not a good
negotiator.  We still have to convince him of the proposed electric sector
reorganization.

The good news is that Fox used many of the phrases that we wrote in the
documents for the transition team.  Apparently he is following the script.
When he talks about no privatization he limits it by saying: there will be no
sell out of CFE's current assets and by ensuring that the sector will be open
to competition.

Dionisio P,rez- Jacome was appointed President of the FERC.  He is a
classmate of Steffes from the Kennedy School and a good friend of mine.

All of the team supporting him is Luis Tellez's team. The undersecretaries,
the president of the CRE (FERC) the directors of CFE and LFC.  The only new
face is the Director of PEMEX who used to be the President and CEO of DuPont
in Mexico.  Ra?l Muoz was very helpful in promoting electric deregulation.
About a year ago he organizad a trip to Altamira in the state of Tamaulipas
in which he invited members of Congress to visit the DuPont and the BASF
plants there so they could see the size of the investments and what was at
risk if deregulation did not take place.  Jaime Alatorre and I were the only
non Congress, non-DuPont or BASF people invited.  He and Alatorre are very
very good friends.  I spent some time with him yesterday at a conference in
which I presented a document on energy and economic development and he
invited me to his office to discuss competition in natural gas.

CFE and LFC have the same directors which may  make change more difficult
btu it is inevitable.

Best,

Ricardo

	Steven J Kean
	12/04/2000 04:11 PM

		 To: Ricardo Charvel/NA/Enron@Enron
		 cc:
		 Subject: Energy Analysis

How are the appointments turning out from your perspective?
----- Forwarded by Steven J Kean/NA/Enron on 12/04/2000 04:11 PM -----

	"Nike Papadopoulos" <nikep@edelmanmexico.com.mx>
	12/04/2000 11:22 AM
	Please respond to nikep

		 To: <max.yzaguirre@enron.com>, <skean@enron.com>, <rshapiro@enron.com>,
<eric.thode@enron.com>, <jaime.alatorre@enron.com>,
<Ricardo.Charvel@enron.com>, <jaime.williams@enron.com>, <sirvin@enron.com>,
<msabine@enron.com>, <agustin.perez@enron.com>
		 cc: <aventura@edelmanmexico.com.mx>
		 Subject: Energy Analysis

Attached you will find last week's energy analysis which includes
information about Vicente Fox's Energy team.

Thank you.

 - 24Nov-3Dec.DOC


Mary Hain has resigned her position with Enron.  Please remove her from all
your mail lists.

Thank you.

Lysa Akin
Gov't Affairs - Sr. Admin. Ass't.

	Enron Capital & Trade Resources Corp.

	From:  "Jackie Gallagher" <JGallagher@epsa.org>
03/28/2001 08:16 AM

To: <bhawkin@enron.com>, <bmerola@enron.com>, <christi.l.nicolay@enron.com>,
<donna.fulton@enron.com>, <janelle.scheuer@enron.com>,
<jeff_brown@enron.com>, <jhartso@enron.com>, <jsteffe@enron.com>,
<Mary.Hain@enron.com>, <rshapiro@enron.com>, <sarah.novosel@enron.com>,
<tom.hoatson@enron.com>
cc:
Subject: REVISED Reg. Affairs Washington Staff Meeting- 12:30 p.m.

MEMORANDUM

TO: Regulatory Affairs Committee-Board and Associate Members Only
       Power Marketers Working Group

FROM: Joe Hartsoe, Regulatory Affairs Committee Chair
            Bob Reilley, Power Marketers Working Group Chair
            Julie Simon, Vice President of Policy
            Mark Bennett, Senior Manager of Policy
            Erin Perrigo, Manager of Policy

DATE: March 28, 2001

RE: REVISED Regulatory Affairs Washington Staff Meeting-
      12:30 p.m.

Due to a conflict with another meeting, the Washington Regulatory Staff
meeting for tomorrow has been pushed back to 12:30 p.m.  If you have any
questions, please contact Jackie Gallagher at 202-628-8200 or
jgallagher@epsa.org.


By popular vote, we will have a draft instead of an auction and the draft
will take place on 8/20.

Rules to follow.

Eric


The broker put delivery point in wrong for a second and then changed it. It
is Mid-C.

Evelyn Metoyer@ENRON
12/08/2000 12:19 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: 12-8-00 Mike Swerzbin error

ref 476900
Amerex shows delivery as Cob and we show Mid-C


Thanks a heap.  Will be waiting with baited breath.  Hope you had a nice vacation!

-----Original Message-----
From: Arora, Harry
Sent: Thursday, November 22, 2001 8:22 PM
To: Blair, Greg
Subject: RE:

Hi Greg

I was out on vaca for last week.  Am back Monday.  Will be happy to put numbers on all this stuff.

Harry

-----Original Message-----
From: Blair, Greg
Sent: Mon 11/19/2001 3:20 PM
To: Arora, Harry
Cc:
Subject:

Harry:

Are you still alive?


We have received an executed amendment to Electronic Trading Agreement with
the referenced counterparty dated March 20, 2000.  Copies will be
distributed.


Start Date: 1/18/02; HourAhead hour: 9;  HourAhead schedule download failed. Manual intervention required.


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 03/17/2000
04:58 PM ---------------------------

"Webmaster@cera.com" <webmaster on 03/15/2000 04:51:55 PM
To: undisclosed-recipients:;
cc:  (bcc: Vince J Kaminski/HOU/ECT)
Subject: CERA Multimedia Presentation:  Wednesday, March 15, 2000

**********************************************************************
CERA Multimedia Presentation Replay Now Available!  March 15, 2000
**********************************************************************

Title: Northeast US Energy Markets: Implications of the Winter Price Spikes
Author: CERA
E-Mail Category: Conference Call, Multimedia
Product Line: North American Gas, North American Power, Refined Products

**  URL for North American Gas Clients:
http://www.cera.com/client/nag/media.cfm

**  URL for North American Power Clients:
http://www.cera.com/client/nap/media.cfm

**  URL for Refined Products Clients:
http://www.cera.com/client/rp/media.cfm

In a March 8, 2000 CERA multimedia conference call and web presentation, Joe
Sannicandro, CERA Director, Bill Veno, CERA Director, and Demetri Karousos,
CERA Associate Director discuss:

Northeast US Energy Markets and the Implications of the Winter Price Spikes:

*  Understanding the Winter Price Spikes in Electric Power, Natural Gas, and
Oil Products Markets in the Northeast US & the Interplay Between Fuels

*  Disentangling Short-term Demand and Inventory Forces From Longer Run
Regional Energy Supply Needs

*  Was This Winter Unique or an Indicator of Building Long-term Pressures? A
Look at Next Year's Market

To view and listen to a replay of this presentation, please click on one of
the links above.

**end**

**********************************************************************
This electronic message and attachments, if any, contain information
from Cambridge Energy Research Associates, Inc. (CERA) which is
confidential and may be privileged. Unauthorized disclosure, copying,
distribution or use of the contents of this message or any attachments,
in whole or in part, is strictly prohibited.

Terms of Use: http://www.cera.com/tos.html
Questions/Comments: webmaster@cera.com
Copyright 2000. Cambridge Energy Research Associates

 - att1.htm


Dave,

Greg is requesting Enron Americas' 2001 Goals & Objectives (no more than 3 to
4 each) asap.

Many Thanks,

Liz Taylor x31935


Please forward to Louise as I did not have her email address.  Thank you.

Further to documents previously submitted, please note:

TAX:  Regarding tax provision with HQUS set forth in the ISDA, our tax
department does require the representation in our US to US masters.  Please
have your tax attorney discuss this with our tax attorney, Morris Clark at
713 853-5846.  Further, upon review of our tax comments as to the guaranty, I
have been advised by our tax department that the FORM W 8BEN will not be
necessary, therefore, the one sentence paragraph in my comments immediately
following Specified Jurisdiction should be deleted.

OPINIONS:  As I referenced in our conversation today, in respect of the HQ
opinion, the definitional structure is intended to cover the Guaranty and the
ISDA to the extent ISDA representations concern HQ as Guarantor and joining
the ISDA for effecting such specific representations.  In connection with the
Guaranty, it is intended that the opinion cover the Guaranty as it relates to
supporting the particular types of underlying obligations to be entered into
by HQUS and ENA, which we understand to be both hedge derivatives and
speculative derivatives for up to multiple years.

 BOARD MINUTES:  My reading of the resolutions submitted suggests that HQ
guaranties for financial derivative transactions are not affirmatively
authorized thereby.  Are there other resolutions?

We are all available for call at 10 your time on Monday.

Enron North America Corp.
Mary Cook
1400 Smith, 38th Floor, Legal
Houston, Texas   77002-7361
(713) 345-7732 (phone)
(713) 646-3490 (fax)
mary.cook@enron.com


SOCO filed interconnection procedures at FERC.  VEPCO and CP&L have protested
SOCO's filing stating that they perform interconnection studies differently
than SOCO in this aspect:

VEPCO and CP&L state that they perform studies by modeling the transmission
system with the loads in the base case unchanged and the output of existing
and higher queued planned generators that serve load ratched down to allow
the grid to accept the full output of the new generator "at the point of
receipt."

SOCO performs the studies using the "extension cord" method -- models the
transmission system with load ratched up in an amount equal to the output of
the new generator.

While a generator customer is still not assured that it will get
"transmission" until it makes a separate OASIS request, VEPCO and CP&L state
that their method provides some "assurance" (ie, no guarantee) that the
customer would not be denied transmission later due to no ATC at the point of
receipt (generator).  I think that their method might also possibly result in
higher "network" upgrades to be charged to generator.

EPMI has not protested SOCO's interconnection filing for other reasons.
However, this may be something of concern to us in these regions and others.
Let me know any concerns.  I think FERC will address this issue when it
issues an order on SOCO's filing (which could be this month or several
months--most likely before summer).  Thanks.


Member Services
Notice No. MS-24
April 23, 2001

COMMODITY EXCHANGE, INC.

 NOTICE OF INTENTION TO TRANSFER MEMBERSHIP

Notice of Intention to Transfer Membership has been posted on the bulletin
board of the Exchange by:

Joseph Augello (ELLO-7102)

In connection therewith, notification of any claims against the
aforementioned individual arising out of transactions executed on the
Exchange up to the close of business on April 23, 2001, must be submitted to
the Corporate Secretary's Office within ten (10) days.

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

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

"http://208.206.41.61/email/email_log.cfm?useremail=sara.shackleton@enron.com&
refdoc=(MS-24)"

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


I have added a folder in excel to keep track of vacation and customer outings etc..  You can find this folder in m:\electric\24hr\juanh\sevacation.  That is all!!


I have already spoken with the guy at Wisvest charged with re-marketing the assets.  I expressed to him our desire to discuss acquisition of the plants and that we are prepared to move quickly.   He indicated that they are going to take the next couple of weeks to assess how best to re-market these facilities, and that they were leaning towards an "open RFP" type process, perhaps with the help of an i-bank advisor.

My objective is to steer them away from this path, and in that regard, I gave him a run-down of a number of reasons why they would do well to enter discussions with us ASAP (e.g., unique situation in that we serve load in UI's area, good relationship with the CT regulators, no market power concerns that killed the NRG deal, ability to affect improvements/clean-up at the sites, etc.).  He asked me to send him a letter outlining these qualifiers, and was recptive to a meeting in the near future (I am going to try and hook up with him in CT as he is on business there this week).

As for location, these plants definitely are in a good spot given that southern CT is quite constrained.  However, the really binding constraint is in the Norwalk-Stamford area --  these plants are located outside of this area.  I am trying to get some more granular information on the locations/severity of constraints in southern CT to help assess constraints in the Bridgeport-New Haven area where the plants are.

One other point is that the one of the units at the Bridgeport station is in deactived reserve (an 80 MW oil plant), so there may be some relatively cheap expansion/repowering plays.

I did learn that they have an asset management deal with a 3rd-party through mid next year, unless they sell off the plants before then.

I will update with status as we move along

John

-----Original Message-----
From: Kitchen, Louise
Sent: Wed 9/26/2001 10:09 PM
To: Presto, Kevin M.; Miller, Don (Asset Mktg); Robinson, Mitch; Davis, Mark Dana; Llodra, John; Broderick, Paul J.
Cc: Lavorato, John; Duran, W. David
Subject: RE: Conn. Coal Plants

Both John Llodra and Don Miller have had discussions with regard to pursuing these assets over the last week.  Essentially, these plants may be the first distress sales we see in the market place.

John/Don - can you let everyone know how you plan to move forward.

-----Original Message-----
From: Presto, Kevin M.
Sent: Wednesday, September 26, 2001 9:38 PM
To: Miller, Don (Asset Mktg); Robinson, Mitch; Davis, Mark Dana; Llodra, John; Broderick, Paul J.
Cc: Lavorato, John; Kitchen, Louise; Duran, W. David
Subject: Conn. Coal Plants

As most of you know, NRG's proposed purchase of two coal plants in Conneticut (UI's territory) was recently cancelled due to regulatory issues at FERC.   The purchase and sale transaction between Wisvest and NRG was originally entered into almost two years ago.   The proposed purchase price of $350 million for 1000 MW of coal was a "bargain price" at the time due to environmental risks that are specific to the state of CT.

Over the past 2-3 years, the State of Conneticut has threatened to have these coal plants shut down due to pollution issues and Wisvest was concerned enough about this risk that they "puked" the plants to NRG for $350/kW in early 2000.   At a minimum, it is expected that $100-150/kW of SCR and/or scrubbers will be required at these facilities to appease the CT regulatory bodies.

My strong view is that, as a practical matter, the plants cannot be shut down or the lights would go out in CT.   The area where the plants are located is quite possibly the most congested area in the entire Eastern Interconnect.   The load pocket is significantly short MW and transmission import capability is inadequate to serve the load in this area.   In a true "locational marginal price" environment, the prices would likely be similar to Zone J in New York   Currently, pricing in NEPOOL is generally socialized with congestion costs spread equally to all loads, regardless of who causes the congestion.

In the recently proposed "single NE RTO" model, it is about 80% certain that the PJM "locational marginal price" market model will be implemented sometime between mid-2003 and mid-2004.   At that point in time, consumers in the congested areas of NEPOOL (in-city Boston and CT) will be exposed to higher energy prices, while consumers in Maine, New Hampshire, and Rhode Island should see lower prices.

Given the facts above, coupled with traditional asset companies too long to show good bids for incremental assets, I think EWS should pursue discussions with Wisvest immediately and attempt to buy these coal plants at what could be extremely favorable economics relative to our forward curve in NEPOOL and our bullish view for relative pricing at the asset "node".

If we could buy these plants for approx $250/kW with $150/kW of environmental upgrades, the resulting "all-in" (depr, fixed & variable O&M, fuel costs, NOx, SO2, capital reserve, interest) 7x24 plant cost would be approx. $34-36/Mwh.    This is lower than our energy only socialized NEPOOL curve.   Additional upside is derived from positive basis, ICAP, ancillary services, emissions allowances, and long term requirements sales to LSE's.

Lavo and Louise - This could be the "Alberta PPA" for 2002.   Lots of "hair" but lots of upside.

Any thoughts?


540039, 541695, 541715, and 541737 are booked to Enmax Corporation.  I think
they should be booked to Enmax Energy Corporation.  Wendy Conwell in credit
has prepared a credit work sheet on this CP so I believe this is the correct
entity.  Can you check?


Dear James,

Thanks for the e-mail.  The info I sent yesterday was not complied by me.  I
took over the reporting just yesterday and am making changes to it.  The
information I will provide on the log from London is what I hear in the
morning meeting.  What I need to do is ensure I get complete info from you,
so I will send you the London information each day as I understand it and you
can add comments.

Thanks

Shona

James New@ECT
11/10/2000 06:45 AM
To: Shona Wilson/NA/Enron@Enron
cc: Sally Beck/HOU/ECT@ECT, Mike Jordan/LON/ECT@ECT

Subject: Report on London Middle Office RiskTrac Performance

Shona,

Thanks for your task force summary.

Below is what I have already produced here from the London perspective.

Should we not be looking to get more detail of exactly the reasons were
especially for human errors and highlight those areas where the problems
arise rather than grouping things together and in so doing losing the detail
? Also we should try to get some trend information so that it is clear where
we are improving (or not as the case may be) on both a general and specific
book basis.

James
---------------------- Forwarded by James New/LON/ECT on 10/11/2000 12:43
---------------------------

James New
09/11/2000 16:25
To: Debbie R Brackett/HOU/ECT@ECT, Rick Buy/HOU/ECT@ECT
cc: Sally Beck/HOU/ECT@ECT, David Hardy/LON/ECT@ECT, Fernley
Dyson/LON/ECT@ECT, Mike Jordan/LON/ECT@ECT, David Port/Market
Risk/Corp/Enron@ENRON

Subject: Report on London Middle Office RiskTrac Performance

Debbie,

Using the data you kindly sent me I had one of my guys extract the
performance issues from a London stand point and specifically look into the
incidence of human errors  as those we can 'influence' immediately.

I am glad to say that the human error rate is very low and over this
(approximate) 30 business day period and in fact there were only 5 human
errors on around 120 officialised DPRs.

London IT are also going to analyse the data to try to pinpoint trends in
their area.

Please let me know if this is informative.

Regards James


----- Forwarded by Tana Jones/HOU/ECT on 12/20/2000 02:27 PM -----

	exchangeinfo@nymex.com
	12/20/2000 02:13 PM

		 To: tana.jones@enron.com
		 cc:
		 Subject: (00-431) CFTC Approval and Exchange Implementation of Further
Amendments to Natural Gas Price Limits

TO:     All New York Mercantile Exchange Members and Member Firms
FROM:  Neal Wolkoff, Executive Vice President
RE:        CFTC Approval and Exchange Implementation of Further Amendments
to   Natural Gas Price Limits for Last Three Trading Days of Spot Month
DATE:   December 20, 2000

Notice #  00-431
==========================================================

Please be advised that the Exchange has received CFTC approval for further
amendments to natural gas price limits.  Members were previously advised in
Notice # 429 (December 18, 2000) that these changes were pending CFTC
approval.

These changes will become effective as of the start of the RTH session on
Friday, December 22, 2000. A copy of amended NYMEX Rule 220.08A (SPECIAL
PRICE FLUCTUATION LIMITS FOR NATURAL GAS FUTURES) is included below in this
Notice. The amendments to this rule add a new Section (E), which concerns the
last three days of trading in the spot month; the amendments also make
related conforming changes.

In view of the recent price movement in the Natural Gas contract, the
Exchange is amending the applicable price limit rules as follows:

(1) There shall be no price limits for any Natural Gas futures contract month
during the RTH session on the last three trading days of the current delivery
month, i.e., spot month.

(2) By comparison, price fluctuation limits shall remain in effect for all
contract months for the NYMEX ACCESS(r) sessions conducted on these three
trading days as provided by Exchange rules and as further modified by
applicable resolutions.

Thus, on Friday, December 22, on Tuesday, December 26, and on Wednesday,
December 27, 2000, there shall be no price limits in effect for any Natural
Gas futures contract months during the entire RTH session on those trade
dates.

In other words, prices shall move on an unrestricted basis during the entire
floor trading session on those three trade dates, and there shall be no
trading halts triggered at any time during such sessions.

As a reminder, an Executive Committee Resolution is still in effect that
amends on a temporary basis existing price limit rules by expanding the price
limits on NYMEX ACCESS (for all contracts listed for trading on NYMEX ACCESS
that have price limits). The Resolution will remain in effect until February
1, 2001, unless Members are notified otherwise by the Exchange. For your
convenience, a copy of the Resolution is also included in this Notice.

If you have any questions concerning the new rule amendments, please contact
George Henderson, Vice President, NYMEX Floor Department, at (212) 299-2071;
Rob Stasi, Manager of Trading Floor Systems, NYMEX Floor Department, at (212)
299-2067, or Brian Regan, Senior Associate General Counsel, at (212) 299-2207.

NATURAL GAS: APPROVED AMENDMENTS TO NYMEX
RULE 220.08A. SPECIAL PRICE FLUCTUATION LIMITS FOR NATURAL GAS
FUTURES

Rule 220.08A. SPECIAL PRICE FLUCTUATION LIMITS FOR NATURAL GAS
FUTURES
(A) Initial Price Fluctuation Limits for All Contract Months. At the
commencement of each trading day, there shall be price fluctuation limits in
effect for each contract month of this futures contract of $1.00 per MMBtu
above or below the previous day's settlement price for such contract month.

(B)(1) Triggering Event and Temporary Trading Halt. If a market for any
contract month is traded or, is bid in the case of upward price moves or is
offered in the case of downward price moves, for five (5) minutes
consecutively at the upper or lower price limit, as applicable, then a
Triggering Event will be deemed to have occurred.

(2) Except as otherwise provided in this rule, as a result of such Triggering
Event, the market will be given notice immediately that in two (2) minutes,
there will be a fifteen (15) minute temporary trading halt in all contract
months of that futures contract and the associated option contract
("Temporary Trading Halt"). The market will remain open during this
two-minute notice period, and the commencement of the Temporary Trading Halt
shall not be affected by market activity occurring during this notice period.

(3) Expansion of Limits Following Temporary Trading Halt. Following the end
of the 15-minute Temporary Trading Halt, the market shall reopen in all
contract months of this futures contract.  When trading resumes, price
fluctuation limits for each contract month, except as otherwise provided in
this rule, shall be expanded to $2.00 per MMBtu above and below the previous
day's settlement price for such contract month.

(4) Following resumption of trading after a Temporary Trading Halt, there
shall be no additional trading halts and no further expansion of price limits
for the remainder of the trading day.

(C) Duration of Session Following Temporary Trading Halt.   When trading
resumes after a Temporary Trading Halt, trading generally shall continue
until the regularly scheduled closing time subject to the following
exceptions:

1) if, at the start of the 15-minute Temporary Trading Halt, there is less
than 15 minutes before the close, then, when trading resumes after the
Temporary Trading Halt, the trading session shall be expanded as necessary to
provide for fifteen (15) minutes of trading following the resumption of
trading, and the closing period shall be the final two minutes of trading of
this 15-minute period of trading; and

provided however that if the five-minute Triggering Event is completed
during  the closing period, there shall be no Temporary Trading Halt for any
contract month and no expansion of price limits for any contract month.

(D) Application of Price Fluctuation Limits to NYMEX ACCESS(r) The limits
described in this rule shall apply to trading on NYMEX ACCESS(r), except as
provided by NYMEX Rule 6.56 and except that:

(1) if the five-minute Triggering Event is completed during the last ninety
minutes of a NYMEX ACCESS(r) trading session, there shall be no Temporary
Trading Halt and no expansion of price limits during the remainder of such
NYMEX ACCESS(r) trading session, and

(2) there shall be no Temporary Trading Halt during a NYMEX ACCESS(r) trading
session if, in the opinion of the President of the Exchange or his designee,
either the Triggering Event was not reflective of otherwise prevailing market
conditions or a Temporary Trading Halt is unwarranted.

(E) Exception for Last Three Trading Days of an Expiring Contract Month.

(1) RTH Session on Last Three Trading Days. Notwithstanding the preceding
sections of this rule, there shall be no limitations on price fluctuations
for any Natural Gas futures contract month during the entire RTH session of
the final three trading days in the current delivery month.

(2) NYMEX ACCESS( Session on Last Three Trading Days. Price fluctuation limits
for all Natural Gas futures contract months on these three trading days shall
remain in effect for the NYMEX ACCESS( session as provided by this rule.

APPROVED RESOLUTION OF THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS
REGARDING PRICE FLUCTUATION LIMITS FOR EXCHANGE CONTRACTS

The Executive Committee of the Board of Directors hereby

Resolves that, until further notice, the price fluctuation limit rules for
each futures contract that is listed for trading on NYMEX ACCESS(r) and that
has such applicable rules shall continue in effect except as amended below
with regard to market activity occurring on NYMEX ACCESS(r):

The initial and subsequent price fluctuation limits (for each Exchange
futures contract that has such limits) shall be expanded to 200% of the
initial and subsequent price fluctuation limits applicable to the first two
contract months of that futures contract that have price limits under the
applicable rule.

This expanded limit (200% of the limits for the first two months with limits)
shall be applicable to all contract months for that futures contract.

In the event that such a price fluctuation limit is reached by a bona fide
bid at the high price fluctuation limit or a bona fide offer at the low price
fluctuation limit, trading on NYMEX ACCESS(r) shall be halted immediately
except as directed otherwise by the President or the President's designee.
Following resumption of trading, the price limits in effect shall be 200% of
the limits applicable to RTH trading.  In the event that a limit is touched
during the last 90 minutes of a NYMEX ACCESS(r) session, the market shall be
halted briefly, and price limits shall be expanded thereafter

In addition, in the event that a contract trading on NYMEX ACCESS(r) traded
for five minutes during the NYMEX ACCESS session at a price
fluctuation limit applicable to the Regular Trading Hours session, then the
RTH session shall open with expanded price fluctuation limits as provided
under the applicable rule, even though no temporary cessation of trading
occurred during the NYMEX ACCESS(r) trading session.

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

"
http://208.206.41.61/email/email_log.cfm?useremail=tana.jones@enron.com&refdoc
=(00-431)"

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


Daren,

Please see the attached file.

Bob


Dear U2.COM member,

January 23, 2001:

Eight more U2 shows for the 'Elevation Tour 2001' in North America
(including a 4th Chicago show on May 16th) go on pre-sale to U2.COM members
tomorrow, Wednesday January 24th. These shows are on public sale on
Saturday January 27th.

The shows included in this pre-sale are Houston (April 2nd) Lexington (May
4th), Pittsburgh (May 6th), Columbus (May 7th), Milwaukee (May 9th),
Indianapolis (May 10th), Chicago (May 16th) and Albany (June 2nd*).

As a registered member of U2.COM, in this e-mail you will find a
password. From 10am local North American time on on Wednesday 24th, a
limited number of tickets will be on sale to U2.COM members who provide this
password and e-mail address to Ticketmaster.com.

This offer is for two tickets to one show.

We can't promise to satisfy everyone but this gives you an improved
opportunity to get the first tickets on sale. (As previously mentioned,
please keep your password confidential - and please, if you are unsuccesful,
do not risk your cash with scalpers.)

        ********* And today's password is Propaganda32 ************

For Ticketmaster direct links to each city click here

http://www.u2.com/homepage/temp2.html
(link will be live Wednesday January 24th ).

1. U2.com members can contact Ticketmaster online from Wednesday January
24th at 10am (your local North American timezone) for the opportunity to
purchase a maximum of 2 tickets.

2. You will need to provide your registered email address and the
secure password provided to you by U2.COM in this email.

3. Only tickets for the U2 show dates in Houston, Lexington, Pittsburgh,
Columbus, Milwaukee, Indianapolis, Chicago (4th show) and Albany as listed
above* will be available for this offer.

4. We have a limited number of tickets in the different ticket
prices available. They are available on a first come first served basis. We
apologise in advance if you are unsuccessful in obtaining a ticket for the
show you require. Please note you will have the opportunity to buy at the
public on sale on Saturday January 27th.

5.Ticketmaster's convenience and handling charges apply to all
orders.

6. When placing your order on Ticketmaster.com for your U2 tickets, you will
need to make sure the email address you provide
Ticketmaster.com matches the email address you registered with U2.com. If
you have already pre-registered your information with Ticketmaster.com
Express Ordering, you should update your Ticketmaster.com account
information to reflect the email address you used when registering at
U2.com. You can make this change at any time by clicking this link:

https://ticketing.ticketmaster.com/cgi/myaccount.asp

If you have not previously registered for My Account and/or Express Ordering
on Ticketmaster.com, you can pre-register all of your billing information
with Ticketmaster.com before the on sale by clicking on the link below. This
is the fastest way to order tickets. Just remember you need to use the same
email address that you used when registering with U2.com. Sign up here:

https://ticketing.ticketmaster.com/cgi/myaccount.asp

For further U2 shows, yet to be announced, U2.COM will continue to provide
registered members with the opportunity to purchase online in advance - you
will be notified of new details and passwords in advance.

In the meantime, if you know U2 fans who are not registered at
U2.COM spread the word.

Best wishes
U2.COM

If you wish to be Unsubscribe from the U2.com mailing list please go to
http://register.u2.com/u2com/

www.U2.com is powered by WorldOnline.com


Our apologies if this is the second time you have received this email.

To: 	Faculty, Students, Staff, Alumni, Advisory Board and friends
of Haas School of Business

From: 	Professor Mark Lemley
	Chair, Haas School of Business Dean Search Committee

Date:  November 7, 2001

The Dean Search Committee wants to learn from the experiences and
perspectives of those who care about the Haas School of Business.
Therefore, the Dean Search Committee asks for your input into the
search for a new Dean.

We invite you to respond to the following questions.  Your response
will be most helpful if we receive them by Wednesday, November 14.
Please e-mail your reply to Katherine Riordan, staff to the
committee, at:              kriordan@uclink.berkeley.edu

Please do not reply to "all".

Please feel free to provide us with either very brief or more
extensive information.

1. What do you consider the greatest current assets and future
opportunities for Haas?
2. What do you consider the largest current shortcomings and
potential threats to Haas?
3. What attributes and skills do you recommend that we seek in a Dean?
4. What experiences do you regard as important in a Dean?
5. Whom would you like to nominate to be Dean--and why?

Thank you for your time and interest.

--
Katherine Riordan
Project Coordinator
Office of the Vice Provost
Academic Affairs and Faculty Welfare
University of California, Berkeley
200 California Hall
Berkeley, CA 94720-1500

Ph: 510/642-7742
Fax: 510/642-3359


DEAN, CLINT E,
?
You have been selected to participate in the Mid Year 2001 Performance
Management process.  Your feedback plays an important role in the process,
and your participation is critical to the success of Enron's Performance
Management goals.
?
To complete a request for feedback, access PEP at http://pep.enron.com and
select Complete Feedback from the Main Menu.  You may begin providing
feedback immediately and are requested to have all feedback forms completed
by Friday, May 25, 2001.
?
If you have any questions regarding PEP or your responsibility in the
process, please contact the PEP Help Desk at:
Houston:  1.713.853.4777, Option 4 or email: perfmgmt@enron.com
London:  44.207.783.4040, Option 4 or email: pep.enquiries@enron.com
?
Thank you for your participation in this important process.
?
The following is a CUMULATIVE list of employee feedback requests with a
status of "OPEN."  Once you have submitted or declined an employee's request
for feedback, their name will no longer appear on this list.  NOTE: YOU WILL
RECEIVE THIS MESSAGE EACH TIME YOU ARE SELECTED AS A REVIEWER.
?
Employee Name:
JACOBSON, MICHAEL
THOMPSON, KERRI


Attached is a memorandum from Adam Wenner summarizing FERC's order on the
merger.  Also attached is the FERC order.  Please call me if you have any
questions.

Sarah

---------------------- Forwarded by Sarah Novosel/Corp/Enron on 07/28/2000
03:32 PM ---------------------------

"Wenner, Adam" <awenner@velaw.com> on 07/28/2000 01:11:49 PM
To: "'Novosel, Sarah'" <snovose@enron.com>
cc:

Subject: revised memo

 - 96558_1.DOC


BUSINESS HIGHLIGHTS

Weather Group

Let,s give a big round of applause to the Weather Team!  Environmental
Finance Magazine ranked the weather group #1 in Online Services and #1 Dealer
in the United States and Europe.  Gary Taylor, manager in weather trading,
comments, "The "Best Dealer" award reflects our counterparties' appreciation
for the significant effort we have made to drive the growth of our market by
making two-sided markets where other companies are only willing to quote
either a bid or an offer.  This award also reflects the innovative nature of
everyone on our desk, and their ability to price non-standard structures for
our customers.  It is truly a team award.  The "Best Online Dealer" award is
simply another testament to the unparalleled success of EnronOnline.  By
providing tight, two-way markets online, we have provided two critical
elements to generate growth in our market: 1) an element of price discovery,
and 2) a quick and easy way to transact."

The Weather Risk Management group launched a new product this week:  Power
Demand swaps.  These contracts use power demand as an index and allow power
market participants (generators, btu distributors, marketers, etc...) to
mitigate volumetric exposures.  The first contract the desk offered is for
the PJM power pool.  On EnronOnline, weekly swaps are available and the desk
has placed option contracts on this index in the broker market.  Inquiries
regarding this product should be directed to Claudio Ribeiro (product
manager) x37313, Gary Taylor x31511, or Valter Stoiani x36906.

Competitive Analysis and Business Controls
eSource, Enron's premier corporate-wide research group, launched their new
intranet product, eSearch, on December 1, 2000.  eSource's team of
specialized researchers have created a web site to bring information and
research to every employee's desktop.  The eSearch web site offers many links
to information resources, access to research databases, specialized searches,
sites to purchase books, articles, and reports, and training.  Employees can
use the web site to conduct their own research or as a vehicle to submit
research requests.  eSource's researchers and industry specialists are
available to all Enron business units to provide timely and cost efficient
research, to work with individuals or groups to fulfill one time research
requests, or to design ongoing, customized monitoring projects or news
updates.

Enron Global Markets Fundamentals
EGM Fundamentals is quickly building a team of expert analysts and associates
to work directly with traders and marketers.  The team is already busy
analyzing various commodities and market situations.  For example, an
initiative is underway to analyze current negative fractionation spreads in
the market resulting from rising natural gas prices.  Web sites to host this
analytical information are currently in development for all EGM commodities.
These sites will provide research and analysis, weather, publications, and
any other information that will assist in decision-making or identification
of potential commercial opportunities.  For questions or requests regarding
fundamental research, contact Jennifer Fraser at x34759.  For questions or
suggestions regarding the web sites, contact Heather Purcell at x54057.

Austin Energy
Austin Energy and Enron Sandhill, L.L.C, a subsidiary of Enron North America
broke ground November 29, 2000 for the construction of the Sand Hill Energy
Center, a 180-megawatt peaking electrical generation facility.  Located in
eastern Travis County, the Sand Hill Energy Center will be a natural gas
fired facility that will operate primarily during peak demand periods.  The
$93.7 million project will feature four 45-megawatt General Electric gas
turbines and will be operational May 1, 2001.

NEWS FROM THE GLOBALFLASH

Coal
The London dry cargo seafreight team traded 1 million metric tonne of
Capesize vessel swaps via EOL in one day, (Wednesday 28th November). The deal
was created by combining OTC options and a physically related cash market
deal.  This helps to bring our YTD EOL to just under 2.5 mln tonne.

Off-shore wind energy deal
Enron Wind has signed a power purchase agreement with Swedish energy company
Graninge.  According to the agreement, Graninge will deliver electricity to
consumers using Enron's wind power plants in southern Sweden.  Enron Wind's
Utgrunden off-shore wind park, completed this year, will generate in the
region of 38,000 megawatt hours of electricity, or enough for around 6,000
average homes between the mainland and the island of Oland on the southeast
tip of Sweden.  In an announcement this week, Graninge stated that it plans
to market the power to consumers as 'green' energy.

Happy 1st Birthday EnronOnline!
This week saw EnronOnline celebrate its first birthday.  During the course of
its first year, EnronOnline has passed a number of milestones including the
addition of a range of new functionalities for customers on the site.
EnronOnline has now come of age, having surpassed the $274 billion mark in
notional value in November.  This represents a total of 478,695 transactions
since the site was launched on 29 November 1999.

The first anniversary was marked by giving the media guest access to
EnronOnline in Europe.  A team from Reuters was invited into Enron House to
receive a full demonstration of EnronOnline and as of today will be able to
quote in reports live prices from EnronOnline.  Other media outlets are being
invited to obtain guest access during the coming weeks as the word of
EnronOnline's success continues to spread...

Australia
Enron Australia continues to assist in the region in a supportive role.
Elliott Katz worked on the GEM migration in Singapore last week with an IT
team from London, Oslo and Singapore.  Approximately 40 users, including
Traders, were migrated to Windows 2000 and the CORP domain.  This is an
important step for the Asia Pacific region, as it brings the three biggest
offices (Singapore, Sydney and Tokyo) into line with corporate standards for
desktop computing.

Japan
E-Power, a JV between Enron and Japanese finance company Orix, has announced
proposals for a 2000MW gas-fired power plant at Mutsu-Ogawara, an industrial
area  in northern Japan.   A feasibility study will be undertaken to define
how the project will go forward and this may include the development of an
LNG terminal in the vicinity.  The nature of the permitting process is such
that the plant would not begin operations for six to seven years.  This
project is just one of several options that E-Power are working on in Japan.

NUGGETS & NOTES

&Go Big or Go Home8 ) Mike McConnell/President & CEO-EGM

"Call Back" - Don Schroeder, VP/Crude Trading-EGM

REMINDER

Holiday Party
Enron North America, Global Markets and Industrial Markets
Enron Field
Saturday, December 9
7:00 - Midnight

WELCOME
New Hires ENA/EIM/EGM
ENA ) Joseph Taylor, Jennifer Rosado, Rabi De, Louis Dicarlo, Scott Churbock,
Kenneth Parkhill, Nicholas Ernst, Dirk Dimitry, Stephanie Taylor, Dimitri
Tagaropulos, Georgia Blanchard, Jona Kimbrough, Jeffrey Baldwin, Patricia
English, Jaesoo Lew, Cheryl Nelson, Gina Abbott, Ryan Keith, Brian Dawson
EGM )Ellen Alexander, Mike Perun

Transfers to ENA/EIM/EGM
ENA ) Gregory Golden
EGM ) Keynan Dutton

FROM THE EDITORS

Thank you to all the contributors to this week's EnTouch.  We want to hear
from the various departments within Enron Americas, Global Markets and
Industrial Markets!  Please continue to send your business highlights,
nuggets & notes or suggestions to Michelle Vitrella or Kathie Grabstald.

LEGAL STUFF

The information contained in this newsletter is confidential and proprietary
to Enron Corp. and its subsidiaries.  It is intended for internal use only
and should not be disclosed.


You have received this email because the requester specified you as their Manager. Please click http://itcapps.corp.enron.com/srrs/auth/emailLink.asp?ID=000000000081127&Page=Approval to review and act upon this request.

Request ID          : 000000000081127
Request Create Date : 1/16/02 3:29:26 PM
Requested For       : israel.estrada@enron.com
Resource Name       : Market Data Kobra Power
Resource Type       : Applications


- protest2.jpg
 - protest4.jpg
 - protest6.jpg


Pete,

The F/M relief sited may not apply in all instances because technically we
may have failed to preserve our rights by not notifying Furnas for 6 months.
They have responded as such although they have not assessed any penalties to
date.  The real test is may 4 when we are supposed to be in Phase 3 on Gas.
---------------------- Forwarded by Rob G Gay/NA/Enron on 01/17/2001 04:27 PM
---------------------------

Christiaan Huizer@ENRON_DEVELOPMENT
01/17/2001 02:04 PM
To: Peter E Weidler/NA/Enron@ENRON
cc: Laine A Powell/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Richard A
Lammers/SA/Enron@Enron, Mariella Mahan/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Celso Bernardi/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rob G Gay/NA/Enron@Enron,
Jose Bestard/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rafael
Rangel/NA/Enron@Enron, Felipe Ospina/NA/Enron@ENRON, Joao Carlos
Albuquerque/SA/Enron@Enron, Jose Lucio Reis/SA/Enron@Enron, John
Novak/SA/Enron@Enron, Johannes.Walzebuck@shell.com.br

Subject: Re: Period after commissioning on oil - PPA availability penalties
vs. diesel cost exposure

Pete,

 There are two types of penalties under the PPA for the account of EPE (the
latter can be used as a hedge to diesel cost exposure and we don't have any
penalties right now)

(1) Delay penalties in being unable to provide the guaranteed capacity of 480
MW on gas starting May 4, 2001 (this is where the Force Majeure extension is
able to provide relief). The penalties here are calculated as R$ 400 per
delayed MW per day.

(2) Penalties due to capacity shortfall (basically - are we able to meet
dispatch requests). If the moving average of the monthly average of the
projects equivalent availability, calculated in accordance with provisions of
annex-7 of the PPA, is less than 92%, a penalty shall be assessed in the
amount of monthly capacity portion of the tariff for each phase times the
guaranteed capacity for the phase multiplied by (92% - moving average of the
monthly availability).

Penalties type (1) does not apply in the concept analyzed as it relates to
delay in gas (Force Majeure Claim issue).

Refusing a dispatch request above 220 MW has an impact on penalties type (2)
(guaranteed capacity is 300 MW). Given that the plant currently has a moving
average of the monthly availability of about 99.7%, there is a margin built
up that can be used to accept an availability hit by refusing a dispatch
request above 220 MW. Therefore, to avoid the huge fuel costs associated with
being dispatched above 220 MW, the PPA availability penalty concept can be
utilized as an alternative. If we continue to decline to be dispatched above
220 MW for a long period however, the built up margin will be reduced and
eventually we'll have to pay penalties because the 12-month moving average
moves below 92%.

Please let me know if additional questions

Christiaan

Peter E Weidler@ENRON
01/17/2001 09:41 AM
To: Christiaan Huizer/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Laine A Powell/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Richard A
Lammers/SA/Enron@Enron@ENRON_DEVELOPMENT, Mariella
Mahan/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Celso
Bernardi/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rob G
Gay/NA/Enron@Enron@ENRON_DEVELOPMENT, Jose
Bestard/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rafael
Rangel/NA/Enron@Enron@ENRON_DEVELOPMENT, Felipe
Ospina/NA/Enron@ENRON@ENRON_DEVELOPMENT, Joao Carlos
Albuquerque/SA/Enron@Enron@ENRON_DEVELOPMENT, Jose Lucio
Reis/SA/Enron@Enron@ENRON_DEVELOPMENT, John
Novak/SA/Enron@Enron@ENRON_DEVELOPMENT,
Johannes.Walzebuck@shell.com.br@ENRON_DEVELOPMENT
Subject: Re: Period after commissioning on oil - PPA availability penalties
vs. diesel cost exposure

Why do we have penalties - I thought we had force majuere extension until
september or so.

Christiaan - please clarify thanks

Pete


The following customers are currently covered by Fred Lagrasta's middle market desk primarily for derivative transactions.  In all cases except for Hallwood, ENA Denver has a relationship with these customers that primarily covers their physical business, we would like to expand that business to cover their Derivative business as well.  The list is based on priority.  We would be willing to cover them for their West Gas business only.  Fred could continue to cover their East, Central and Oil/Liquids business.

Xcel Energy (PSCo) and affiliate e Prime.
Devon Energy
Cross Timbers
Hallwood Energy
Forest Oil
Prima
Patina Oil and Gas
Westport


----------------------------------------------------------------------------
NATIONAL JOURNAL'S TECHNOLOGY DAILY PM EDITION
is now available at http://nationaljournal.com/pubs/techdaily/
----------------------------------------------------------------------------

AFTERNOON HIGHLIGHTS:

EDUCATION: Congressional negotiators are expected to reach an agreement on
the funding level for educational technology programs.

INTELLECTUAL PROPERTY: Congress is unlikely to act on legislation designed
to spur
online music competition in part because of a related antitrust probe.

CYBER SECURITY: An international economic body has named a group of experts
to review existing guidelines on cyber security.

CAMPAIGNS: Civil libertarians and privacy advocates are questioning the
e-mail campaign tactics of New Jersey gubernatorial candidates.

TECH DAILY AFTERNOON FEATURE:
Issue of the Week: Staff Writer Liza Porteus looks at state efforts to
defend the homeland against cyber attacks and other threats.
Click here to go directly to the feature -
http://nationaljournal.com/pubs/techdaily/features/issues/issu011029.htm

TODAY ON NATIONALJOURNAL.COM:
-- OPENING ARGUMENT: Why The Terrorism Bill Doesn't Go Far Enough
   http://nationaljournal.com/members/buzz/openingargument.htm

-- BILL STATUS: The Latest Updates On Key Legislation
   http://nationaljournal.com/members/news/bills/billprogress.htm

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National Journal's Technology Daily is published daily by National Journal
Group Inc. For more information about National Journal Group's
publications, go to http://www.nationaljournal.com.


Michelle - keep this report to use as a "cut & paste" starting point for the
report on 10/27th.

For the week  October 2-6th:

Transwestern weekly average deliveries to California were 1,075 MMcf/d (99%)
while east deliveries averaged 304 MMcf/d.  San Juan lateral throughput
averaged 854 MMcf/d while receipts from Rio Puerco averaged 61 MMcf/d.
Mojave deliveries averaged 63 MMcf/d throughout the week.

El Paso average deliveries to California were 2,300 MMcf/d (78%) :

- PG&ETop (capacity 1,140 MMcf/d) deliveries averaged 598 MMcf/d (52%)
- SoCalEhr (capacity 1,250 MMcf/d) deliveries averaged 1,181 MMcf/d (95%)
- SoCalTop (capacity 541 MMcf/d) deliveries averaged 520 MMcf/d (96%)

Other pipeline throughput:

- PGT ( capacity 1,937 MMcf/d) throughput to California averaged 1,871 MMc/d
(97%)
-  Kern River (capacity 700) throughput to California averaged 343 MMcf/d
(49%)

Cash PG&E/Topock - SoCal/Needles spread ranged .27-.43 and averaged .38
throughout the week.

Friday Enron Online Basis numbers:

  Nov  Nov 00-March '01 April-Oct '01
Perm-CA   .62    .39      .55
SJ - CA    .87    .53      .74
SJ-Waha   .27    .17      .26
Perm-Waha   .02    .03      .07


I've received requests to convene a meeting of the Drafting Committee.  The
purpose of the meeting would be to reach closure on the optional product
definitions and other provisions (esp. the credit annex) that would be made
available on the EEI website.  We should also discuss how to rectify the
numerous typos that have been identified on the cover sheet and the GT&Cs.
Would meeting sometime during late May or during June pose a problem?  I am
also pretty much open during July and the first two weeks of August. I've
attached a calendar w/ dates I'm not available.  If you could print the
calendar; fill dates you are not available and fax to Patricia at
202-508-5673 by COB Friday we can come up with a meeting date.  My first
choice would be to have the meeting in D.C., but would be willing to go to
another location.

FYI, John Varholy and I will be speaking at a conference on competitve
electricity markets from 5/7-5/10 in Zagreb Croatia hosted by USAID.  I'll be
talking about U.S. standard commodity contracts and John will be discuss EFET
and Nordpool.  Also, I'll be speaking in Houston on May 15 at Energy & Power
Risk Management 2001 on the EEI.  If you want to talk about the drafting
commitee meeting I'll been in the office for the rest of the week and then
out for two weeks.

Andrew S. Katz, Director Industry Legal Affairs
Edison Electric Institute
701 Pennsylvania Avenue, N.W.
Washington, D.C.  20004
Voice:  202-508-5616
Fax:     202-508-5673
e-mail:  akatz@eei.org
 - TEXT.htm
 - 5-6sched.doc
 - Andy Katz.vcf


Based on latest info hear's latest assessment of Gov's talk:

I'm in charge.
Here's all the wonderful things I've done thus far to address the crisis
(likely to include Edison TX talks, since it seems he has no choice but to
continue that charade).
It's bad and getting worse and we've got to pull together as a state to get
through it.
Rate increases are a necessary evil that---painful as they are, and they will
be painful---must be part of the solution; and future increases may well be
likely.
Blame FERC and the generators, because it's their fault.
Windfall profits is a good idea.

Kari Dohn of the Gov's office  and I have been trading voicemails.  She's
going to LA with Governor Backbone later this afternoon for the speech.  If
she and I hook up, I'll report back on what, if anything, I hear.

Best,
Jeff


- 2000 BALLOT.doc


Commodity logic is the process of updating the look and feel of their products.

They need two personal from settlements, confirms, and logistics.

The group CL has engages will be here on Tuesday and Wednesday of next week.

The meetings will be for one hour (they promise).

They would also like to have a demo with the management team. (also Tuesday or Wedesday)

Please provide the names of the reps to me plus with best times on Tuesday and Wednesday.

Also, CL is looking for one more person to add to their team.  They are looking for someone with
mid and back-office experiences to help with marketing.  If you have any one that maybe interested
please let me know.

Also, The CL module managers will be calling on you to help coordinate the gathering of contact
information for various counter parties.  Just to give you a heads up.

Let me know.

thanks

bob


There is a problem with this process.  When Sally goes to website & enters
her ID & password, steve.beck comes up - not sally.beck.  Until this is
fixed, she will be unable to process these requests.  Please either fix this
or find another way for her to approve.

Thanks,
Patti x39106
(Sally Beck's Assistant)

ARSystem@ect.enron.com on 08/08/2000 07:04:07 PM
To: sally.beck@enron.com
cc:
Subject: Your Approval is Overdue: Access Request for ina.rangel@enron.com

This request has been pending your approval for 4 days. Please click
http://itcApps.corp.enron.com/srrs/Approve/Detail.asp?ID=000000000001126&Email
=sally.beck@enron.com to approve the request or contact IRM at 713-853-5536
if you have any issues.

Request ID          : 000000000001126
Request Create Date : 8/3/00 9:14:22 AM
Requested For       : ina.rangel@enron.com
Resource Name       : EOL US Backoffice  Stack Manager
Resource Type       : Applications


Please find the attached registration for NESA/HEA's Gas Accounting
technical training course.  Our classes only hold 25 people on a first-come,
first-serve basis, so all those interested please respond ASAP.  You can fax
to me at (713) 856-6199.

If you have any questions, call me at (713) 856-6525.  If you are having
problems opening this attachment and are interested in attending, please
call me and I will be happy to fax you a copy.  You can also visit our
website at www.nesanet.org <http://www.nesanet.org> .

  <<GAS_ACCOUNTING_PDF.pdf>>

 - GAS_ACCOUNTING_PDF.pdf


Start Date: 10/22/01; HourAhead hour: 22;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2001102222.txt

Error retrieving HourAhead price data - process continuing...


During the course of their investigation, Special Agents from the Federal Bureau of Investigation will be taking documents they believe may be important for their investigation from employees' offices.  The FBI has agreed to return copies of such documents.

In addition, should you have an immediate need for a document requested by the FBI, please make a copy of the specific document and give the original to the FBI. Thank you for your cooperation.


---------------------- Forwarded by Amy Fabian/Corp/Enron on 08/14/2000 02:32
PM ---------------------------

RAISLERK@sullcrom.com on 08/11/2000 12:09:12 PM
To: clong@enron.com
cc:

Subject: Memo

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

This e-mail is sent by a law firm and contains information
that may be privileged and confidential. If you are not the
intended recipient, please delete the e-mail and notify us
immediately.

 - Update on Last Week.doc


Note:  There will be a briefing meeting on the project in Denver on Nov. 14

N. Border Plans Extension to Tap Powder River Basin

Powder River Basin gas producers may be about to get a more direct route to
Midwest markets. Northern Border Pipeline has released plans to build a new
325-mile greenfield pipeline from McCabe, MT, to Gillette, WY, to tap the
rapidly growing production in the Powder River, which is estimated to hold
between 10 and 30 Tcf of gas.

The basin's rapid production growth has captured the attention of the
industry, with numerous proposed pipelines, including several new interstate
plans that would bring gas to the Midcontinent gas grid. Northern Border's
project, called the Bison Pipeline, would add a new route out of the basin
for between 375,000 and 500,000 MMBtu/d of production starting in November
2003. The pipeline is holding an open season on the proposal through Dec. 5.

Receipt points are proposed with Bighorn, Fort Union Gas Gathering, MIGC and
Thunder Creek Gas Services. A bi-directional interconnect accessing Williston
Basin Interstate Pipeline's Baker storage field also is proposed.

The connection with Northern Border will provide Powder River producers with
direct access to several local distribution companies, including
Montana-Dakota, Alliant Interstate Power, MidAmerican Energy, Nicor Gas,
People Gas and Nipsco. It also provides access to ANR Pipeline, Midwestern,
NGPL, Northern and Vector.

The projected recourse rate is 26 cents/Dth/d, but a negotiated 10-year
demand rate cuts 4 cents off that. The pipeline is offering
"mileage-sensitive rates," which are expected to allow a shipper to tailor
supply access and optimize transportation value.

Northern Border plans to hold a briefing on the project in Denver on Nov. 14.
For more information, contact project director Paul Miller in Omaha, NB, at
(402) 398-7758 or James Hoff in Denver at (303) 575-6475, or see the
pipeline's Web site at www.northernborderpartners.com.


Accomplishments:
Conducted several workshops with EECC and the CALME region this week
Scheduled workshops with NEPCO
Have identified the needs to be addressed in the NEPCO workshops and are
arranging appropriate resources
Met with the London COE to discuss their status in terms of reporting (we are
sharing data from workshops)
Have made an initial offer to Corp HR cost center users to conduct workshops
for them
Brought in some EY help to work with the business units to understand the
multiple environments, extraction and analysis tools being used by the
different business units

Upcoming:
Additional workshops for EECC and ESA
Identification of the Corp groups that would like to have these sessions made
available (and subjects they would like to cover)
Will complete the "user" guides with screen prints to give out to all
participants (step by step instructions, tools, and tips)
Finalize the NEPCO workshops (Mar 20-22)
Produce a plan for upcoming workshops for ECCS and Design review

Summary analysis of evaluations from this week's workshops:
Our overall belief is that the workshops, the one on one attention, the new
content etc. are being received very well (scores averages around 3.5 on a
scale of 1-4)
The score for the question of whether SAP will meet the reporting needs is
still too low (average of 2.8).  We will continue to analyze the root cause
of this problem.
There is definitely an improvement in people understanding which modules
contain which data.  We believe that a hand-out we developed really helped
this and will continue to continue to emphasize this learning.

Comments received:
Very good and useful
Could have used this sooner
Sessions are not long enough
I love the workshop idea, its so much better than training classes

Feel free to contact me, Melissa or Kim with any questions or concerns.

Greg


I talked to Delma with Amoco about the fuel and she is going to get with her people and call us back.

ds

 -----Original Message-----
From: 	Hanagriff, Richard
Sent:	Tuesday, March 05, 2002 5:53 PM
To:	Watson, Kimberly; Lindberg, Lorraine; Lokay, Michelle; McConnell, Mark; Y'barbo, Paul; Lohman, TK; Schoolcraft, Darrell; Scott, Donna; Blair, Lynn; Buchanan, John; Dietz, Rick; Ward, Linda; McEvoy, Christine; Hernandez, Bert; Mulligan, Amy; Giambrone, Laura; Miller, Christopher L; Minter, Tracy; Cherry, Paul; Moseley, Debbie; Fancler, Dan
Subject:	TW imbalance summary

FYI's

PNM               -    has verbally promised to pay back 5000 mmbtus per day during March and also to pay 1/2 of the imbalance in cash
Amoco Abo     -    did not deliver volumes into TW during February and first four days of March - however, fuel volumes are being
                           delivered into Amoco Abo Fuel point causing the imbalance to grow.
So Cal            -    received 60,344 mmbtus in payback from 3/1 -3/4 reducing the accumulated balance to 59,483 mmbtus due TW
Williams         -    Williams will be invoiced for $84,461.19 for Feb oba activity.  The balance shown on the attached summary is related
                           to March 2002
Devon            -     Devon was invoiced for their accumulated balance through 1/31/2002 - $146,678.  The balance shown on the
                           attached summary is related to activity after 1/31/2002.  Amy will continue to follow up on the payment status.
Mojave          -      Balance shown is related to March 2002 activity.  The prior balance of 150,923 mmbtus is being resolved and will be
                           cashed out.  This amount related to these volumes should be invoiced during 3/2002.
NGPL           -      received 89,845 mmbtus in payback during 2/2002 reducing accumulated balance to 45,621 due TW as of 2/28

 << File: imball0203.xls >>


Don't I know...they are smart and loving, but a little short on the details
sometimes, aren't they!  --Sally

"Cindy White" <cwhite@viviance.com> on 02/15/2001 02:47:14 PM
To: "Sister" <sally.beck@enron.com>
cc:
Subject: Don't send a dad...

From the Don't Send a Dad to do a Mom's Job Department....

Brigeda just went to her 2nd ortho appointment.  I had a deadline so did not
attend--Richard did.  Apparently Brigeda's treatment plan has changed.  So I
asked Richard what had changed--he didn't know and didn't ask....

Grrr....


I will be there!  Thanks, Kim.

 -----Original Message-----
From: 	Robertson, Audrey
Sent:	Wednesday, September 19, 2001 4:06 PM
To:	Robertson, Audrey; Abdmoulaie, Mansoor; Asante, Ben; Betancourt, Ramona ; Burleson, Bob; Centilli, James; Corman, Shelley; Doll, Jeanette; Donoho, Lindy; Faucheaux, Eric; Frazier, Perry; Geaccone, Tracy; Goradia, Pallavi; Gottsponer, Morgan; Graves, Jerry; Harris, Steven; Hass, Glen; Keller, John R.; Kowalke, Terry; Lindberg, Lorraine; Lohman, TK; Lokay, Michelle; Matthews, Ron; Moore, Jan; Pryor, Tony; Rice, Randy; Schoolcraft, Darrell; Veatch, Stephen; Watson, Kimberly; Blair, Lynn; January, Steven; Dietz, Rick; Giambrone, Laura; Hernandez, Bert; McEvoy, Christine; Miller, Beverly; Minter, Tracy; Mulligan, Amy; Ward, Linda; Cormier, Martha; Lee, Dennis; Alters, Dennis; Scott, Donna; Buehler, Craig; Kuehl, Toby; Hanagriff, Richard; Huber, Lee; Cabrera, Reyna; Ramsaran, Gale; Brown, Elizabeth; Miller, Chris L; Kilmer III, Robert; Lokey, Teb; Veatch, Stephen; Paschal, Zelda; Thompson, Debra; Babin, Richard; Culwell, Christi; Lichtenwalter, Blair
Subject:	Rescheduled Appreciation Luncheon for ETS' TW Teams

We are pleased to announce the new date and time of our Appreciation Luncheon.  Please mark your calendars for Thursday, September 27, 11:30a - 3:00p.  We will meet at the same location, Jillians,  7620 Katy Freeway.

Please RSVP by Friday of this week.

	Thanks in advance,

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

 -----Original Message-----
From: 	Robertson, Audrey
Sent:	Tuesday, September 04, 2001 4:23 PM
To:	Robertson, Audrey; Abdmoulaie, Mansoor; Asante, Ben; Betancourt, Ramona ; Burleson, Bob; Centilli, James; Corman, Shelley; Doll, Jeanette; Donoho, Lindy; Faucheaux, Eric; Frazier, Perry; Geaccone, Tracy; Goradia, Pallavi; Gottsponer, Morgan; Graves, Jerry; Harris, Steven; Hass, Glen; Keller, John R.; Kowalke, Terry; Lindberg, Lorraine; Lohman, TK; Lokay, Michelle; Matthews, Ron; Moore, Jan; Pryor, Tony; Rice, Randy; Schoolcraft, Darrell; Veatch, Stephen; Watson, Kimberly; Blair, Lynn; January, Steven; Dietz, Rick; Giambrone, Laura; Hernandez, Bert; McEvoy, Christine; Miller, Beverly; Minter, Tracy; Mulligan, Amy; Ward, Linda; Cormier, Martha; Lee, Dennis; Alters, Dennis; Scott, Donna; Buehler, Craig; Kuehl, Toby; Hanagriff, Richard; Huber, Lee; Cabrera, Reyna; Ramsaran, Gale; Brown, Elizabeth
Subject:	Postponed Appreciation Luncheon for ETS' TW Teams

Please be informed, because a large number of our invitees had conflicting schedules, we are moving the date of our Appreciation Luncheon.  Steve's main objective was to include as many of  ETS' TW Teams as possible.  To achieve this effort, the luncheon will be moved to a date and time which does not conflict with activities within ETS.

As soon as we confirm our date, we will notify you via email.

Thanks in advance for your patience and understanding.

adr

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

 -----Original Message-----
From: 	Robertson, Audrey
Sent:	Monday, August 27, 2001 9:23 AM
To:	Abdmoulaie, Mansoor; Asante, Ben; Betancourt, Ramona ; Burleson, Bob; Centilli, James; Corman, Shelley; Doll, Jeanette; Donoho, Lindy; Faucheaux, Eric; Frazier, Perry; Geaccone, Tracy; Goradia, Pallavi; Gottsponer, Morgan; Graves, Jerry; Harris, Steven; Hass, Glen; Keller, John R.; Kowalke, Terry; Lindberg, Lorraine; Lohman, TK; Lokay, Michelle; Matthews, Ron; Moore, Jan; Pryor, Tony; Rice, Randy; Robertson, Audrey; Schoolcraft, Darrell; Veatch, Stephen; Watson, Kimberly; Blair, Lynn; January, Steven; Dietz, Rick; Giambrone, Laura; Hernandez, Bert; McEvoy, Christine; Miller, Beverly; Minter, Tracy; Mulligan, Amy; Ward, Linda; Cormier, Martha; Lee, Dennis; Alters, Dennis; Scott, Donna; Buehler, Craig; Kuehl, Toby; Hanagriff, Richard; Huber, Lee; Cabrera, Reyna; Ramsaran, Gale; Brown, Elizabeth
Subject:	Appreciation Luncheon for ETS' TW Teams

Steve Harris would like to let you know that your hard work during the past few months has been sincerely appreciated.

A "Thank You Luncheon" has been scheduled to express this appreciation.  Please mark your calendars to attend a luncheon on Friday, September 7, 2001, from 11:30a - 3:00p at Jillian's, 7620 Katy Freeway.

We hope that each of you will be able to share this time with Steve and the TW Commercial Group.

Please RSVP to me by Friday, August 31.

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


Bonnie and I just got back from vacation to learn that you are leaving
Enron.  This has to be a major transition for you and if I can be of help in
any way, please call.  I'm sure there will be lot's of "noise" and people
talking to you about options, but I hope you will take some time for
yourself to slow down and reflect a little --- you still have a lot of life
to live and this can  be a terrific breather to refocus on what you value.
Good Luck to you and  let me know  if I can help.  God Bless.   --- David
Weekley


Sold 7000 to CES at meter 30AL for tomorrow - deal 169576.  The meter is not
set up in Sitara.  I sent a meter request to Faye Ellis.


Louise, attached please find a revised version of Enron Canada's third quarter origination report.  Further to your request, we have corrected the numbers and have ensured that the numbers have been correctly allocated with respect to each originator.

Please note that the numbers for "De Stefano", "Di Stefano" and "Pastega" (maiden name) have been combined into one number for Cyntia Di Stefano.

Regards, Rob


Greg, it is really up to you - if you have other things to do don't worry
about it.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 06/27/2000
05:59 PM ---------------------------

	Enron North America Corp.

	From:  Greg Piper @ ENRON                           06/27/2000 04:32 PM

To: David W Delainey/HOU/ECT@ECT
cc:
Subject: PRC on July 7th

Fran was the one asking me to go to the ENA Final VP PRC on the 7th since I
had a few months of data on Rodney, Edward, Ajello and Burnett.  Also, Rodney
and Edward were hoping I could attend ( I guess they think my attendance
would help them not hurt them!).  I can attend if you want and give my Q1
observations.  However, if you think you have it handled, that is OK for me
as well.  I am not emotional about it either way and am only concerned about
helping if you need it or want it.  That is why Kay asked you about it today.

Let me know your thoughts.

Thanks.

GP


thanks

Chad Landry
01/31/2001 01:17 PM
To: Eric Bass/HOU/ECT@ECT
cc:
Subject: I was planning on

sending Matt a check for old bills.  I will just include an extra check in
the envelope for you and have him deliver it to you.

CKL


not much just sitting here.  how was your trip?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Tuesday, January 22, 2002 9:29 AM
To:	Nelson, Michelle
Subject:	RE:

hey, whats up

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Tuesday, January 22, 2002 9:26 AM
To:	Maggi, Mike
Subject:

hey, are you here?


CALENDAR ENTRY:	APPOINTMENT

Description:
	Monthly Power Testing Mtg. w/ Arthur Anderson - Jennifer Stevenson, Jennifer Muse, Linda Norman (Conf. Rm.3127 -Jennifer Staton 5-3762)

Date:		12/12/2000
Time:		3:30 PM - 4:30 PM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


I have one large sweater left from the ski trip last February,  first come
first served.


THE FRIDAY BURRITO
"...more fun than a fortune cookie, and at least as accurate."

There is a hint of Autumn in the air.  I don't know if it's wishful
thinking, or if the seasons are really beginning to turn from our pale
summer into a Bay Area glorious Fall.  It's premature, I know.  A few
fallen leaves, the start of schools, slightly longer afternoon shadows
... I'm jumping the gun.  I can't wait for this summer to be over,
especially this summer.  The pounding never stops, and as I hear the din
of the cash register ringing with each climb in Southwest temperature, I
can barely keep track of all the hiccups which drive prices up: fires in
Montana restricting transmission paths, blown up interstate gas pipeline
in New Mexico, diminishing N-Ox credits for in-state power plants,
depleted inventory of hours of voluntary load interruptions for
commercial and industrial customers, credit limits restricting imports
of Canadian power into the Northwest and California, and BPA buying
about 1,000 MW to cover its short hydro position.

 I also get the willies every time another politician lambastes the
California restructured power industry.  I just want to end to the
summer, now, and start a two week Fall vacation ... anywhere, even in
Cleveland.

There are seven, count them, seven investigations into some aspect of
the wholesale power market out here.  Two days ago there were only six,
but FERC just added another yesterday in response to the Prez's
request.  That means FERC has two, the PUC has two, the State Attorneys
General has two (one on the ISO Governing Board, and one on the in-state
generators), and one by the Electric Oversight Board.  If you don't have
an ongoing study of the California Market, then you're not hip.

All of these investigations, save FERC's Section 206 Investigation, are
going to amount to near nothing.  A lot of wasted time and paper.  The
PUC and EOB studies have their conclusion sections all finished.  Now
they need some evidence to support their assertions.

And how are we holding up under all of this?  How are you doing?  I talk
to many of you throughout the week, and I know how frustrated you are.
I share your frustration.  You want to tell the public, the press, and
anyone in between the truth.  You want to lay out the facts.  You want
to show anyone who will listen that each interference into the market is
making things worse, not better.  The price caps, for example, are
damnable and screwing up the prices, much to the detriment of those
people for who price caps were supposed to be a protection against price
shocks.  Now they are receiving higher average prices.

The public isn't going to listen to anything longer than a sound bite.
And let's face it, when it comes to stellar public relations, our
industry is not known for turning in A+ performances, except for SCE.
Those guys seem to get their story in front of the public at every
turn.  I heard SCE is putting on their customers' bill, "Here is what
you would have paid if the rate freeze ended ....".  But many of us in
the new power industry, borne from the loins of either the natural-gas
industry or nuclear-power business, learned the hard way that the best
response to a public inquiry is a two-block head start in front of an
angry mob.  Keep your head down, shut your mouth, and this too shall
pass.

I don't buy that approach, at least not anymore.  That is, I don't
believe we have anything to hide, or of which to be ashamed.  What
electric restructuring is about is correct, beneficial to the public,
and in everyone's best interests.  Look at it this way, when they pat
the last shovelful of dirt on your final resting place, for what do you
most want to be remembered?  That you caved in to the political will of
others, or at a moment when you had the chance, you did what was right
instead of what was expedient?  I think the choice is easy, albeit laced
with sheer terror.  Those bland homilies I so diligently teach my kids
(e.g., tell the truth, do what is right, think of the big picture and
not just yourself) are a lot easier to speak than to live by.  So join
me and stand up for what you believe.  They can't take away your pride,
not yet.

Here is this week's line up.

>>> Things in the People's Republic of California
 @@@ Excerpts from FERC's Order on SDG&E Complaint
 @@@ The Development of a Super-Peak Block Energy Product

>>> The Mailbag: A Letter from My Friend, and A Response

>>> Odds and Ends (_!_)

 @@@ Finish the Story Contest
 @@@ October General Meeting
 @@@ What Makes Houston, Houston?

>>> Things in the People's Republic of California
 @@@ Excerpts from FERC's Order on SDG&E Complaint

President Clinton commented from the Rose Garden that good folks in San
Diego, retired, fixed-income, likely to vote for a Democrat, are making
choices between buying medicine or air conditioning their homes.  I call
this the Del Monica Beach lecture.  The Prez instructed the FERC to
investigate the situation in California, and FERC wasted no time.

In response to SDG&E's August 2 complaint, whereby the utility asked
FERC to impose a $250 price cap on generators in the region, the FERC
responded in a way that I was hoping to see several months ago.  The
FERC slammed SDG&E on their complaint for lack of merit, and the FERC
also initiated an FPA Section 206 Investigation into the wholesale power
market in California.

Here are some of the juicy excerpts from FERC's Order:

"In this order, ... , we are denying SDG&E's requested immediate
imposition of a price cap on all sellers in California.  However, we are
instituting consolidated hearing   proceedings pursuant to section 206
of the Federal Power Act to investigate the justness and reasonableness
of the rates and charges of public utilities that sell energy and
ancillary services to or through the California ISO and PX, and to also
investigate whether the tariffs and institutional structures and bylaws
of the California ISO and PX are adversely affecting the efficient
operation of competitive wholesale electric power markets in California
and need to be modified

"SDG&E concludes that the markets cannot be workably competitive if
sellers are able to exact prices that are considerably above levels that
would prevail in open competition, i.e., sellers are able to bid and
receive prices significantly above their marginal costs.  SDG&E also
argues that the hour-to-hour volatility in imbalance energy prices and
the erratic clearing price for ancillary services is an indication that
the market is breaking down when it is moderately stressed.

"While we find it appropriate to institute a section 206 hearing on
these issues, we cannot implement an immediate price cap of $250/MWh as
requested by SDG&E because there is no record before us to support such
an action.  ...  While the issues raised by this complaint are
important, the Commission has no basis to conclude that SDG&E's proposal
to place an immediate, arbitrary $250/MWh cap on the price that every
public utility seller of energy and ancillary services may bid into the
PX and ISO markets would satisfy this standard.  SDG&E has provided no
evidence to demonstrate that all potential sellers are able to exercise
market power, has not documented a single instance of a seller
exercising market power during times of scarcity, and did not attempt to
show that the conditions underlying the Commission's approval of
market-based rates for public utility sellers of energy and ancillary
services have changed.  Nor did it address specific market or
institutional  factors that may be causing rates to be unjust or
unreasonable.

"SDG&E asserts that the ISO's congestion management and market
structures are flawed and in need of overhaul. ... Furthermore, SDG&E
expresses its concern that, for a number of reasons, the congestion
management and market reform efforts being pursued by ISO stakeholders
will not produce  meaningful results.  SDG&E indicates that it is
prepared to work with the ISO to develop alternative reform proposals;
however, SDG&E's complains that the ISO stakeholder process has, in
SDG&E's judgment, been ineffective with respect to these issues.

"Various interveners contend that SDG&E's arguments are premature. ...
We agree with Interveners. ...  The reform efforts have been the subject
of extensive public review and comment and are nearing completion.
Accordingly, we reject SDG&E's arguments at this time.

"It is unclear whether SDG&E's failure to purchase hedging instruments
for its retail operations is due to state regulatory policies or its
business decisions.  A retail rate design that exposes consumers to the
volatility of commodity prices would be extraordinary, particularly when
consumers do not have the ability to receive or respond to price
signals.

"We are concerned that ... increasing level of market activity in the
real-time market raises significant reliability and economical concerns.
...  Historically, the ISO procures on a daily basis only the resources
needed for the operating day.  Not only does this procurement practice
put pressure on the grid operator to secure needed resources at the last
minute, but the practice is uneconomical.  Such spot-market purchases
are not subject to the ISO's  buyer's cap.  Furthermore, because the ISO
is the supplier of last resort for these services, when OOM calls are
made, suppliers realize that the ISO is in a must-buy situation.

"In an effort to address this problem, we direct the ISO to immediately
institute a more forward approach to procuring the resources necessary
to reliably operate the grid.  Specifically, the ISO should anticipate
the need for such additional resources based on  forecasted peak
periods.  We direct the ISO to factor these reforms into an analysis of
the need for and level of purchase price caps and to include this
analysis as support for any filing it makes to extend its purchase price
cap authority."

In closing, WPTF is an intervenor in the case, and we hope to be very
active in the case through testimony, cross examination, the filing of
briefs, and reply briefs.

>>> Things in the People's Republic of California
 @@@ The Development of a Super-Peak Block Energy Product

Several weeks ago, I discussed with the ISO their interest in developing
a new market for a block energy product that would be purchased in the
morning of a trade day, and be dispatched during the super-peak hours.
I challenged them to let the market participants develop this market
instead of the ISO doing the same.

At the August 1 ISO Governing Board meeting, I stated as the WPTF
position that we oppose price caps, but if the ISO Governing Board
insisted on going down the $250/MWH price cap route, we would do what
ever we could to help the situation and avoid the occurrences of Stage 3
alerts.  Whereas I didn't think about the conversation on super-peak
block markets as being relevant to  the remarks before the Governing
Board, it became painfully clear soon after that we could, and should
work with the ISO to develop a new market through either APX or the
California PX, or both, to bring some order to the otherwise chaotic Out
of Market system.

This week, WPTF and the ISO had a joint meeting whereby both sides
discussed the merits of a super-peak block firm-energy product, and how
it could be instituted.  The meeting at the ISO, at which WPTF had many
of its members who either have generation in the State, or import power
into California, was for market participants and the ISO to discuss how
to bring more order and price transparency to the ISO's out of market
calls. The ISO reported that this summer, to date, the amount of money
spent on Out of Market purchases was about $100 million.  Last year the
total cost of Out of Market purchases was $1.7 million.

APX and CalPX, in response to our earlier discussions with them,
presented their proposals at the meeting.  The discussions which ensued
during the course of the presentations focused on how the ISO might
utilize a product/service to reduce the manpower requirements currently
needed to satisfy its out of market telephone calls, typically on short
notice, and the interest on the part of market participants to make bids
into either the APX or CalPX's proposed system for a super-peak
firm-energy product.

There were no  commitments made by any party, simply a willingness to
work together to alleviate the problems associated with finding
sufficient electric power during high demand periods with greater
transparency, more participants, and greater market efficiency.

We'll keep you posted on our development of this market.

>>> The Mailbag: A Letter from My Friend, and A Response

Sometimes I share bites of our Burrito with fellow travellers, much as I
did last week when I sent my friend Mike Florio a copy of the story
called the Trial of Gow Jing.  Mike sent me a note that I would like to
share. He said I could.  I want you to read it and appreciate that there
are other people who share his view.  I also copied the response I sent
to Michael, a.k.a. Old Deuteronomy.

Michael wrote:

"I'm not going to attempt to complete your little melodrama [the
Gow-Jing story], but I did want to offer an observation.  In simpler
times, people knew the other people that they did business with, and
they typically lived in the same community.  If a merchant tried to
charge exorbitant prices for his products, even if he was the only one
in town who had the product in stock, he would face the wrath of his
fellow citizens.  This undoubtedly served as a constraint on such
behavior, even in the absence of a CPUC or FERC. Telling Mrs. Jones that
the loaf of bread she needs to feed her kids will cost her $50 would not
be a pleasant way to do business, and such things ordinarily did not
happen.

"In the modern global economy, of course, this personal aspect of doing
business has been almost completely lost.  And so has the restraint.  I
have no doubt that the folks who sell electricity are good people (jeez,
I know many of them), but they work in an environment where the end
results of their business decisions are invisible.  If Mrs. Jones can't
afford to run her refrigerator any more, that fact is at best dimly
perceived, and if so it is viewed as cause for some sort of social
program, not a reason why a merchant would alter his behavior.

"This is clearly not a case of socialism versus capitalism, because both
scenarios occur within the overall context of a capitalist system.  But
certainly something fundamental has changed, and not for the better in
my view.  Now everyone feels compelled to squeeze the last dollar out of
every transaction-- their jobs may even depend upon it-- and no one is
responsible for the end result.  Is this the kind of world we want to
live in???

"PUT THAT IN YOUR BURRITO AND SEE WHAT YOUR READERS SAY!  YOU CAN EVEN
BLAME ME, SO THAT YOU ARE NOT ACCUSED OF TURNING PINK IN YOUR MIDDLE
AGE.      Deut"

Okay.  It's in the Burrito.  And here is what I think.

You allude to the change in a world that was once "more personal" and is
now institutional.  You make the point that things are not better off if
for no other reason then the lack of personal accountability.  But I
don't think that in all cases the more personal world is lost.  It is
ever present, as I will argue below.  Second, your group embraces the
impersonal "efficiencies" when it is convenient.  Finally and most
importantly, where will your social-minded and like minded counterparts
be when competitive forces leap supply ahead of demand, which might
happen in a handful of years?

However, your essential point is not lost on me.  I do believe that
there are ways for generators and consumers to be good neighbors in
California.  I have a proposal below to which I would like to hear your
response.

First, though, the personal business touch is present in our economy.  I
exercise the restraint to which your story pines in many of my
consulting engagements which require financial give and take between
client and vendor.  It is simply smart business to do so.  I have been
the beneficiary of the same with my local bank when errors occurred in
my checking accounts, or when loan payments were made absent mindedly
late, etc., and the late fee forgiven.  However, much of our economy,
and certainly the trade of a commodity such as electricity requires the
use of markets.  Nameless and faceless, they do squeeze out all the
efficiencies which lead to lower prices, more innovation, and a sharing
of price risk with parties who are neither the ultimate consumer nor the
initial producer.  The producer and consumer get out of the risk
arbitrage and leave it to others who are more skilled and monied.

I find it ironic that TURN, then, is so insistent on arguing, as it has
done on many many occasions for the relaxation of market separation in
the ISO's congestion management reform.  Elimination of market
separation is nothing more than the impersonal forcing of parties to
execute trades on either side of a congested transmission path in the
name of market efficiency.  Lower prices for consumers.  Does it really
matter if it is done through person to person transactions, or through
markets?

Third, your story can be used to make an alternative point.  What
happens to the merchant in town when Wal-Mart moves into the next town
down the road?  All the faithful customers that your Merchant of
Vengeance was protecting suddenly migrate to a competitor with greater
inventory, more choice, and lower prices.  What do you say, then?  The
corollary for us is direct.  The new generation owners moved literally
billions of dollars into California, at risk, and took a chance.  It
paid off.  They succeeded as we all know this year, and probably will
next year, and so on.  But the 3,000 MW of new power plants under
construction in California, and the 3,000 MW under construction in
Arizona, and the over 16,000 MW of combined power projects in
California, Arizona, and Southern Nevada that are in line for permits
will change the financial landscape in a hurry once energized.  The
prices will soften, returns will be less cherry, and I really want to
know, where will today's accusers be when there is a shake out?
Consumers will reap that benefit, oh you best believe it. But the
alliances to which your opening story alludes simply misses that point.
You gotta make hay while the sun shines.

Now to my proposal.   Michael, I would be willing to work with you to
develop some kind of loan program for residential and small commercial
customers that would, in effect, reduce the economic hardship of higher
electricity prices.  I could imagine, although I haven't tested the idea
with any parties,  that a significant program could be crafted, possibly
secured by the credit of participating generating companies, and
executed by a commercial lending institution such as Bank of America.
Borrowers would pay a fair interest rate and the administrative fees.
It's simply smart business, not charity.  It's one way to amortize the
earnings which came about due to a circumstance of short supply relative
to the sudden growth of demand for power.

Maybe that is a step in the right direction, I don't know. One could
argue that it is no different than SDG&E implementing a level payment
plan for it's consumers.  True, it is no different, because in either
case the customer is paying for the loan interest and administrative
fees, and I consistently believe that a market for credit is more
efficient (am I getting impersonal?) than one instituted by a
monopoly.   Second, the security for these loans is provided by parties
other than the utility's customers.  Further, we wouldn't have to worry
about PUC oversight and prudence reviews.  We could make this work
quickly.

I will be very interested to hear your thoughts, and the comments of my
members.  Thanks for sending us your letter.

>>> Odds and Ends (_!_)

 @@@ Finish the Story Contest

Well, there was only one response, and that was from Carl Imparato.
Here is what Carl said,

"Am I missing something? Who is Gow-Jing supposed to represent? (Yes, I
get the pun in the name.  But is he also just an anonymous "everyman" or
is there someone in particular?)

"My first response to your question is that Gow-Jing simply replies
`Itai!' (You could look it up... I think it's Chinese for `it hurts!').
Then he takes out a concealed axe, goes on a rampage and kills
everyone.  But that's too realistic, so don't use that ending.  Instead:

"Ending:  Just as he was about to reply, a giant 500 foot wall of water
swept through the room, drowning everyone.  And they lived happily ever
after.  The end."

I haven't decided whether to name this response Carl's Gilgamesh Epic
(I.e., Noah and the flood), or Carl's Hydro Dream.  We'll leave the
contest open for another week.  Can't let $5 bucks go the only entry.
Where's the competition?

>>> Odds and Ends (_!_)

 @@@ October General Meeting

Barb Ennis, our event coordinator for our General Meeting wanted you
folks to know that the Inn at Morro Bay blocked a few more rooms for us
on Wednesday, October 4th (for the early birds) and of course Thursday,
October 5th. To date, 21 of the 24 rooms originally set aside in the
WPTF block are now taken.

Among the additional rooms, there are 2 rooms blocked with double beds
on Wed. & Thur. nights at $152.00 each and 6 rooms on both nights for
$89.00 each.  Folks, you better call the Inn at Morro Bay, telephone
800-321-9566.  Rooms should be requested under the name of the Western
Power Trading Forum.

Also feel free to call the Inn and book a room for Friday and Saturday
if you wish to stay over....ask for SHAWN.

For those who are in the golf, green fees are $28.00 plus $10.00 for the
cart.

Please RSVP me by E-Mail (baennis@ix.netcom.com) if you are attending
The Social Evening Dinner On Thursday Night ($45 per person, all are
invited) and also the luncheon on Friday (no charge) .... I must have an
accurate headcount.

Have a great weekend and see you at Morro Bay.......Barb

>>> Odds and Ends (_!_)

 @@@ What Makes Houston, Houston?

Dan Douglass of Arter and Hadden sent us the following item. Houston,
the unofficial home of the electric power industry, is a town you either
love or hate.  Here are some guiding principles offered by the Chamber
of Commerce of the 4th largest city to enable their many visitors to
cope.

   First you must learn to pronounce the city  name. It is YEWS-TUN and
it does not matter how people pronounce it in other places.

   Forget the traffic rules you learned elsewhere. Houston has its own
version of traffic rules. Never forget that downtown Houston is composed
entirely of one way streets. The only way to get out of center of town
is to
turn around and start over when you reach Dallas, Texas.

   All directions start with, "Go down  Westheimer..."

   Westheimer has no beginning and no end.

   It's impossible to go around a block and wind up on the street  you
started on. The Chamber of Commerce calls this a "scenic  drive".

   The 8am rush hour is from 6:30 to 9:30am. The 5:00 pm rush hour is
from 3:30 to 6:30 pm.  Friday's rush hour starts on Thursday morning.

   If you actually stop at a yellow light, you cannot be from Houston.

   Kuykendahl Road can only be pronounced by a native, so do not
attempt the phonetic pronunciation. People will simply tilt their heads
to the right and stare at you.

   Construction on the Gulf Freeway is a way of life, and a permanent
form of entertainment.

   Many bizarre sights can be explained simply by uttering the phrase,
" Oh, we're in Montrose!!"

   Construction crews aren't doing their job properly  unless they
close down all lanes except one during rush hour.

   If  someone actually has their turn signal on, it was probably left
on at the factory where the car was made.

   White haired men driving red or silver sports cars will not obey any
known traffic rule and cannot be expected to stop for red lights or stop
signs.

   All ladies with blue hair who drive Cadillacs or Lincoln
Continentals have the right of way.

   The above mentioned blue haired ladies also have a  legal right to
turn right from a left lane or to turn left from a right  lane. YOU HAVE
BEEN WARNED!

   Buying a  Houston street map is a waste of money since there is
absolutely no way that you can route yourself in such a manner as to
avoid major road construction.

   Houston natives are so rare that they are listed on the endangered
species list. The few remaining specimens are kept in a controlled
environment for their own safety.

   Sir" and "Ma'am" are used by the person speaking to you if there's a
remote  possibility that you're at least 30 minutes older than they are.

   "Sugar" is a more common form of  address than "Miss". So is
"Honey". Do not take offense. This is how southerners address grown
women.

   In Houston we drink Coca-Cola  and Dr. Pepper. It is rumored that
other soft drinks are sold here, but no one will admit to knowing anyone
who actually drinks them.  So don't ask for any other soft drink.

   What you need to know when arriving at Bush Intercontinental
Airport: Your arrival gate is at least 32 miles away from the Main
Concourse of any terminal.  Walking heels on your boots or walking shoes
are advised.

   Never honk your horn at another car in Houston traffic. The bumper
sticker that reads, "Keep honking, I'm reloading" is considered fair
warning.

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

Have a great weekend, y'all.

gba


"Reasonable" works for me - my interpretation is what Enron has done in the past (and many other companies do) including but not limited to the following:

- actual moving and related costs
- sales commission on house
- a couple of moving trips
- temp housing for a month or two
- coverage on appraised value of house if can not sell quickly
- gross up to cover taxes, where appropriate

- Not looking to gain, just to remain whole

Chris Calger
503-464-3735

 -----Original Message-----
From: 	Kitchen, Louise
Sent:	Wednesday, January 02, 2002 4:07 PM
To:	Calger, Christopher F.
Subject:	FW: Chris's letter

 -----Original Message-----
From: 	Oxley, David
Sent:	Wednesday, January 02, 2002 6:06 PM
To:	Kitchen, Louise
Subject:	RE: Chris's letter

Ummm. Don't see an issue with expenses, although I'm sure purchaser will have arrangements with their own shipping company etc., Everyone I've spoken too has a domestic relo program and Citi in particular have agreed to meet any obligations we have previously made so long as we tell them now.

I'll see what else I can find out. Only thing I'd add to Chris's note is an agreement that he will move to Houston if we meet all "reasonable" costs.

David
 -----Original Message-----
From: 	Kitchen, Louise
Sent:	Wednesday, January 02, 2002 6:02 PM
To:	Oxley, David
Subject:	Chris's letter

Chris will obviously be relocating to Houston in the near future.  We need to make sure we cover all of the expenses.  How do you intend to do this under the proposed contract?

Louise Kitchen
Chief Operating Officer
Enron Americas
Tel:  713 853 3488
Fax: 713 646 2308