Kevin wants to hold off filing this RTO pleading until after our meeting with
Kevin on Thurs. at 4:00.

	From:  Christi L Nicolay                           11/14/2000 06:29 PM

To: dwatkiss@bracepatt.com, sbuchheit@bracepatt.com, Mark
Palmer/Corp/Enron@ENRON, James D Steffes/NA/Enron@Enron, Sarah
Novosel/Corp/Enron@ENRON, Joe Hartsoe/Corp/Enron@ENRON, Donna
Fulton/Corp/Enron@ENRON, Richard Shapiro/NA/Enron@Enron, Steven J
Kean/NA/Enron@Enron, asettanni@bracepatt.com
cc:

Subject: SE RTO protest w/ press info.

Dan--  Please put the attachment into filing format in order to make a filing
in each of the current RTOs this Thursday 11/16.  Then, our detailed protests
will be made on Monday 11/20, as planned.

Mark Palmer asked that you forward the Thursday filings to your press
contacts with a statement that unless properly structured, the RTO filings
could end up being "Really Terrible Options."

Also, we will decide probably Friday or Monday on whether we file this
attachment in FPL's current request for market based rates continuation,
Docket ER97-3359-003 due Monday 11/20, so please prepare that filing.

We can also file the attachment in Ameren when FERC notices Ameren's recent
request to quit MISO to join Alliance (rather than filing in Ameren Docket
No. ER00-2687 as a request for rehearing (due 12/1)).  Thanks.
---------------------- Forwarded by Christi L Nicolay/HOU/ECT on 11/14/2000
05:02 PM ---------------------------

	From:  Christi L Nicolay                           11/14/2000 06:19 PM

To: Shelley Corman/ET&S/Enron@ENRON, David Fairley/HOU/ECT@ECT, Ben
Jacoby/HOU/ECT@ECT, David W Delainey/HOU/ECT@ECT, Kevin M Presto/HOU/ECT@ECT,
Mark Palmer/Corp/Enron@ENRON, Steven J Kean/NA/Enron@Enron, Richard
Shapiro/NA/Enron@Enron, Donna Fulton/Corp/Enron@ENRON, James D
Steffes/NA/Enron@Enron, Ron McNamara/NA/Enron@Enron, Robin
Kittel/NA/Enron@Enron, Joe Connor/NA/Enron@Enron, Dan Staines/HOU/ECT@ECT,
Jeff Brown/NA/Enron@Enron, Tom Chapman/HOU/ECT@ECT, Tom
Hoatson/NA/Enron@Enron, Janine Migden/NA/Enron@Enron, Kerry
Stroup/NA/Enron@Enron, Janet R Dietrich/HOU/ECT@ECT, John J
Lavorato/Corp/Enron@Enron
cc:

Subject: FPL and the SE RTO protests

Attached is the proposed protest that EPMI would file next Monday 11/20
against FPL in its request for continuation of market based rates for its
wholesale merchant function and affiliates.  EPMI has already filed detailed
protests (unlike the attached generic protest) against AEP, Entergy and
Southern due to problems with each utility's OASIS system.  EPMI plans to
file this generic protest in other large vertically integrated utility
requests for continuation of market based rates.  The attachment now includes
a reference to Staff's investigation that states participation in an RTO,
without the proper safeguards, including the elimination of the native load
exception, will not necessarily reduce the utilities' ability to discriminate
against third parties.  Plus, there is a reference that Staff found a
perception that the SE is the worst area for discriminatory practices.

Please let me know if you have an issue with EPMI making this filing in FPL's
proceeding.

Also, note:  EPMI plans to file this generic protest this Thursday in the
current RTO proposals -- SPP, Entergy transco, Florida RTO, Southern, Grid
south.  Then on Monday 11/20, EPMI will be filing its specific protests of
other aspects of each RTO filing.


Welcome to the Houston Bar Association's e-Bulletin!

Attached is the Houston Bar Association's e-Bulletin, an electronic
communication designed to keep you up-to-date about the Houston Bar
Association between issues of the Houston Bar Bulletin.

Click on the attachment to view the HTML document in your browser. If you
have difficulty reading this attachment, you can also view the e-Bulletin
Online at   www.hba.org <http://www.hba.org/>  If you have comments or
suggestions, e-mail   karenv@hba.org <mailto:karenv@hba.org>


Mark,

I understand that in Sara's absence, you are the point person in legal to
approve product descriptions. The attached products are short, simple and for
internal counterparties only. In order to meet our deadline, the product
descriptions need to be approved by Wednesday.

Thanks,

W. Stuart


i'm blowin' myself  at these prices !  looking for the cal 02 $ 25.00 one time put.   $ 1.15 bid for size!

 -----Original Message-----
From: 	"Knock, John" <John.Knock@ElPaso.com>@ENRON
Sent:	Friday, October 19, 2001 11:40 AM
To:	Quenet, Joe
Subject:	ENE

ps.   your stock is getting WHACKED again today!!!!!!!

******************************************************************
This email and any files transmitted with it from the ElPaso
Corporation are confidential and intended solely for the
use of the individual or entity to whom they are addressed.
If you have received this email in error please notify the
sender.
******************************************************************


Sam Behrends, IV
202-986-8018

Steven H. Davis
Co-Chairman
212-424-8436

Cam MacCrae
212-424-8080

John Klauberg
212-424-8125


Attached is a revised Credit Watch listing for the week of 3/5/01.  Please
note that PG&E Energy Trading-Gas Corp. is back on the Watchlist for "NO
TRADES".
If there are any personnel in your group that were not included in this
distribution, please insure that they receive a copy of this report.
To add additional people to this distribution, or if this report has been
sent to you in error, please contact Veronica Espinoza at x6-6002.
For other questions, please contact Bill Bradford at x3-3831, Russell Diamond
at x5-7095, or Brant Reves at x3-9897.


Bill,
I just wanted to let you know that it's going to take a couple weeks (I think) until I receive access to the timekeeping system.  Apparently after requesting access, ISC sends back a ticket number and an FYI (below).
As soon as I receive access I will go back for your group and enter their time, and from then on keep track of the groups time for each month.

Thanks, Jill

 -----Original Message-----
From: 	Couret Stegall/NA/Enron@ENRON [mailto:IMCEANOTES-Couret+20Stegall_NA_Enron+40ENRON@ENRON.com]  On Behalf Of ISC Hotline,
Sent:	Monday, July 23, 2001 3:58 PM
To:	Chatterton, Jill
Subject:	Re: timekeeping access

Your ticket number is 525114. FYI- security requests are averaging 14 business days.

Thanks,
Courie

From:	Jill Chatterton/ENRON@enronXgate on 07/23/2001 05:54 PM
To:	ISC Hotline/Corp/Enron@Enron
cc:

Subject:	timekeeping access


yes we are going


Welcome to eMail News Delivery, a service from Business Wire.
Here is your Industrial Information Resources Inc. news release.
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with the following command in the body of the message:
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BW2012  JAN 09,2002       2:07 PACIFIC      05:07 EASTERN

( BW)(TX-INDUSTRIAL-INFO-RES) AmerenEnergy Generating Company Begins
Construction of 468MW Energy Center in Illinois, in an Advisory by
Industrialinfo.com

    Business Editors

	   HOUSTON--(BUSINESS WIRE)--Jan. 9, 2002--The following is an
advisory by Industrialinfo.com (Industrial Information Resources,
Incorporated; Houston, Texas). AmerenEnergy Generating Company (Saint
Louis, Mo.) is currently underway with the construction of a $160
million 468 mega-watt (MW) energy center to be located in Elgin,
Illinois. AmerenEnergy is an operator of more than 3,500MW of
generating capacity.
	   Construction began in November of 2001 for The Elgin Energy
Center, located on 1559 Gifford Road near the intersection of Gifford
and Spaulding Roads in Cook County and completion is expected in the
fall of 2002.
	   Sargent & Lundy (Chicago, Ill.) was selected to provide
engineering services and Fru-Con Construction Corporation (Ballwin,
Mo.) was selected as the overall general contractor to construct the
new power station.
	   The facility will use four simple-cycle natural gas fired
turbines, which will produce up to 468MW of peak load electricity. The
turbines will have the capability to be operated with wet compression
if needed for power augmentation following achievement of normal full
load power output. Wet Compression entails introduction of water into
the inlet air duct and evaporation of the water in the compressor.
	   Ameren Corporation (NYSE: AEE) provides electric and gas services
to customers in Missouri and Illinois through its subsidiaries,
AmerenCIPS, AmerenUE, and AmerenEnergy Generating Company.
	   Ameren has $9 billion in assets, almost $6 billion in market
capitalization and $3.5 billion in total revenues. Ameren companies'
net generating capacity is nearly 12,000MW with a total of 14
base-load and hydroelectric plants, currently employing over 7,300
people.
	   Industrialinfo.com provides daily news related to the industrial
market place including industry alerts and databases for the energy
and industrial markets. For more information on trends and upcoming
construction activities in the Power and Energy markets as well as
other industrial sectors send inquiries to
powergroup@industrialinfo.com or visit us at www.industrialinfo.com or
www.iirenergy.com.

    --30--LS/na*

    CONTACT: Industrial Information Resources Inc., Houston
             Britt Burt, 713/783-5147

    KEYWORD: TEXAS MISSOURI ILLINOIS
    INDUSTRY KEYWORD: ENERGY OIL/GAS UTILITIES
    SOURCE: Industrial Information Resources Inc.

For the best viewing of the news releases please
 use the following email settings:  Courier 10 point.
 -Notice of Copyright and General Disclaimer-
 (c) 2000 Business Wire. All of the releases provided by Business Wire
 are protected by copyright and other applicable laws, treaties and
 conventions. Information contained in the releases is furnished by
 Business Wire`s members who are solely responsible for their content,
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- Notice of Copyright and General Disclaimer --
(c) 1999 Business Wire. All of the releases provided by Business Wire
are protected by copyright and other applicable laws, treaties and
conventions. Information contained in the releases is furnished by
Business Wire`s members who are solely responsible for their content,
accuracy and originality. All reproduction, other than for an
individual user`s reference, is prohibited without prior written
permission.

- Notice of Copyright and General Disclaimer --
(c) 1999 Business Wire. All of the releases provided by Business Wire
are protected by copyright and other applicable laws, treaties and
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accuracy and originality. All reproduction, other than for an
individual user`s reference, is prohibited without prior written
permission.


Concur Expense (XMS)
Common Questions

1.  Where can I find online documentation on Concur Expense?
Answer: Documentation on Concur Expense is stored in the ISC Document
Library.   Go to the following link:
http://isc.enron.com/site/doclibrary/user/default.asp  and click on the XMS -
Concur Expense folder on the left.

2. How can I sign up for Concur Expense training and how much does it cost?
Answer: Go to the following link:
http://iscedcenter.enron.com/docentlm/login.htm.  Log in using your Enron
email address.  Enter your birth date as the password in the following
format: MMDDYYYY.  Under the Courses section, select Concur Expense (XMS).
This will show the training schedule.  Click the Enroll button to sign up for
a class.  The cost is $250.

3. Will old XMS expense reports be converted to the new Concur Expense system?
Answer: No.  History data was not converted to the new system because of our
move to an Application Service Provider (ASP) solution for Concur Expense.

4. How can I view my old expense reports?
Answer: Call the ISC Customer Care group at 713-345-4727.  The ISC will be
responsible for printing out old expense reports and forwarding them to you.
Other options are being reviewed to allow you to view old expense reports.

5. Are there any Enron specific help instructions for Concur Expense?
Answer: Yes.  If you log into Concur Expense, you will see a link to Enron
Help on the Concur Expense home page under the Company Links section.  Also
you will see a button for Enron Help at the top of the screen when entering
expense reports.

6. Is Enron's Travel Policy available in Concur Expense?
Answer: Yes. If you log into Concur Expense, you will see a link to Travel
Policy on the Concur Expense home page under the Company Links section.  Also
you will see a button for Travel Policy at the very top of the screen when
entering expense reports

7. What if I am unable to see any of my credit card charges in Concur Expense?
Answer: Since there are a number of factors that could cause this problem, it
is best to call the ISC Customer Care group first.  The ISC will research the
problem and get back to you with an answer.

8. Does Concur Expense have a time-out feature?
Answer: Yes.  Concur Expense will automatically time out after 20 minutes of
inactivity.

9. How do I enter foreign currency into Concur Expense?
Answer: Go to the ISC Document Library described in #1 above.  Go to the XMS
- Concur Expense folder.  Next go to the Special Procedures folder and
following the directions stated in the document called Add a Foreign Currency
Expense to an Expense Report.

10. Are there any other sources to quickly get me started using Concur
Expense?
Answer: Yes.  Concur Expense provides a Quick Tour for new users.  Log into
Concur Expense and click the Help button in the top right corner of the
screen.  Then click the button labeled Quick Tour at the top of the help
screen.  The ISC intranet home page also contains some helpful information.
The following link summarizes some of the topics discussed above:
http://isc.dev.corp.enron.com/site/XMSchange.htm.

11. Can you quickly describe some of the internal changes in the new Concur
Expense system?
Answer:  There are minimal changes in the new upgrade.  Here is a list:
? The first screen only has one tab instead of two
? New expense types were added
? Attendees and approvers will now be printed on the expense reports
? Manager and receipt dunning notices will be sent out
? The statistical order and statistical WBS element fields have been
separated out

Please direct all other questions to the ISC Customer Care group at
713-345-4727.


I just created "2000bug03.xls" and "2000tran03.xls".

Joe, we will continue to use the CES Wholesale tab in the 2000tran03
worksheet.


Todd,

This should be the latest and greatest.  Great talking to you today.  Glad to
hear
everything's going great in LA.

Kevin

conway77@earthlink.net


Richard:

The corporate workbook reflects that the officers of Enron Credit, Inc. all
reside in the U.K.  I don't see anyone identified with a power of attorney
for executing documents in Houston.

As there may be tax issues associated with U.K. officers signing (in the U.K)
on behalf of a U.S. company, I am asking  for verification from Janine.

My suggestion is that Enron Credit Ltd. negotiate and execute the agreement
and include the usual "affiliates, representatives, etc." who may need to
know any confidential information.  Your V.P.'s are all in London.

If Janelle confirms that it's alright for Brown, Sherriff or Seyfried to sign
for Enron Credit, Inc. from London, then we can prepare the document and have
a V.P. sign and fax the agreement to the U.S. party.  At a minimum, though,
we should try to work from our form of NDA.

Let me know if you have any questions.

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com
----- Forwarded by Sara Shackleton/HOU/ECT on 02/15/2001 04:11 PM -----

	Tana Jones
	02/15/2001 02:41 PM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: Confidentiality Agreement with Scana

It is not clear to me how we should handle this, what do you sugguest?  As a
note, I will be out of the office on Friday.
----- Forwarded by Tana Jones/HOU/ECT on 02/15/2001 02:40 PM -----

	Richard Sage
	02/15/2001 11:04 AM

		 To: Tana Jones/HOU/ECT@ECT
		 cc: Denis O'Connell/LON/ECT@ECT, John Haggerty/Corp/Enron@Enron, Sara
Shackleton/HOU/ECT@ECT, Craig Chaney/HOU/ECT@ECT
		 Subject: Confidentiality Agreement with Scana

Tana,
I guess we need to change the Enron legal entity from Enron Corp?
In our current model the transacting entity will be Enron North America
(which is a Delaware corporation?)
Can you then arrange a suitable signature (Haedicke?)
Can we get this done by the end of Friday?

Thanks,
Richard

---------------------- Forwarded by Richard Sage/LON/ECT on 15/02/2001 16:54
---------------------------

John Haggerty@ENRON
15/02/2001 15:14
To: Richard Sage/LON/ECT@ECT
cc: Craig Chaney/HOU/ECT@ECT, Bruce Harris/NA/Enron@Enron, David P
Dupre/HOU/ECT@ECT, Jeff Kinneman/HOU/ECT@ECT, Bryan Seyfried/LON/ECT@ECT

Subject: Confidentiality Agreement

Richard, Craig told me you could review and sign this confidentiality
agreement, naturally it might need a little editing.
---------------------- Forwarded by John Haggerty/Corp/Enron on 02/15/2001
10:12 AM ---------------------------

"FOLK, JESSE C III" <JCFolk@scana.com> on 02/15/2001 02:30:48 PM
To: "'john.haggerty@enron.com'" <john.haggerty@enron.com>,
"'denis.o'connell@enron.com'" <denis.o'connell@enron.com>
cc:

Subject: Confidentiality Agreement

John and Denis--

Here is the proposed confidentiality agreement.  I wasn't sure about the
exact name for you, so I just put in the generic "Enron".  Let me know if
this is okay.

Call me if you have any questions, and I'm looking forward to reaching an
agreement with you.

Thanks.

Jay Folk
Trading Operations Manager
SCANA Energy Marketing, Inc.
803-217-1433 (Phone)
888-309-2859 (Mobile)
803-217-1455 (Fax)
jcfolk@scana.com (E-mail)

 - SEMI-Enron conf agreement.doc


Julia,

The lawyers at UT at Austin have some questions regarding your corrections
to the non-disclosure agreement.

Specifically, they want to discus the arbitration provision. The name of the
lawyer at UT
is Gene Bartley, 512 471 2995.

Vince


Email sent by Kay Chapman 01/31/01


---------------------- Forwarded by David M Gagliardi/TTG/HouInd on
09/26/2000 08:12 AM ---------------------------

mggagliardi@duke-energy.com on 09/26/2000 07:11:29 AM

To:   DGagliardi@reliantenergy.com, David_Ricks@GSDM.com,
Tony.A.Rogers@fritolay.com
cc:

Subject:  True Orange Fax/E-Mail #90

---------------------- Forwarded by Michael
Gagliardi/Hou-ComOps/EnergyTrading/PEC on 09/26/2000 07:21 AM
---------------------------

TruOrange@aol.com on 09/25/2000 06:57:31 PM

To:   TruOrange@aol.com
cc:    (bcc: Michael Gagliardi/Hou-ComOps/EnergyTrading/PEC)
Subject:  True Orange Fax/E-Mail #90

True Orange Fax/E-Mail Service
Volume 8, Fax/E-Mail #90, Monday, September 25, 2000
Jerry Scarbrough's True Orange, P. O. Box 26530, Austin, Texas 78755 -
Phone
512-795-8536

UT-OU Set for 11 A.M. ABC Kickoff; Brown Laments Injured Tackles

The Texas-Oklahoma game in Dallas has been selected for an ABC telecast and
will begin at 11 a.m. on October 7. I told you several weeks ago I thought
that would happen, and now it is official. It won't go to the entire
nation,
but it will go to more than just a normal regional. It is what they call a
"split national game," which means that game and another game will divide
the
nation's viewing, presumably on close to a 50-50 basis.
If you can't make the game and want to watch it on TV, I would suggest you
call your cable company to see if they are carrying the UT-OU game. If you
are in the lower half of the country, the chances are pretty good that it
will be on in your area.
* * * *
Coach Mack Brown said at his Monday news conference freshman WR Roy
Williams
"should be ready to play this week and all the others are questionable."
Williams suffered a bruised arm early in the game, and Brown said he is
feeling good enough to practice when the team resumes drills on Tuesday.
But he said DT Shawn Rogers, who suffered a sprained ankle, is among those
who are questionable, along with two other DTs, Stevie Lee (foot) and Ryan
Haywood (shoulder). "We are really thin at defensive tackle," he said.
With 230-pound Reggie White of Oklahoma State averaging 5.4 yards per carry
and 127.3 yards per game (No. 2 in the Big 12, No. 11 in the nation),
primarily running between the tackles, Brown said the list of limping
tackles
is a major concern.
He said when Rogers teams with All-American Casey Hampton at the tackles,
the
Longhorns are very hard to run against. "They are the best, as a pair, that
I've been around," he said. "They are the best we've coached or played
against."
Redshirt freshman Marcus Tubbs played well in Rogers' place, Brown said,
"but
we need to get Shawn back." He also said Rogers is good enough that he
could
miss most of the practices this week and still be able to play at a high
level if his ankle permits it.
Brown said Hampton and Tubbs are the starters, with little used substitute
Miguel McKay the only healthy DT in reserve. He said he is hoping Lee's
foot
improves enough to allow him to play, but said the coaches are "going to
talk
to some of the kids" to see who might want to help out at tackle. He said
sophomore Cole Pittman, a former DT, and true freshman Kalen Thornton are
both 270-pound DEs who could pinch hit at tackle.
"Reggie White will be a big test for us, especially if Shawn can't play,"
he
said.
* * * *
RECRUITING NOTES: Two national blue-chippers took their official visits to
Texas last weekend. FB James Buchanan of Sarasota, Fla., Cardinal Mooney,
got
home late Sunday night and DL Kaelen Jakes of Valencia HS in Placentia,
Cal.,
got home Monday morning. Buchanan said he met with coach Brown for about an
hour and he said Brown told him he needs to know as soon as possible what
his
plans are "so I could let them know if they needed to look somewhere else
for
a fullback." He said he really enjoyed his visit, and said he was
pleasantly
surprised to find that the UT business school is ranked No. 5 in the
country.
"I had a really good time," he said. "The players and coaches were really
down to earth, but I want to visit Florida (on Oct. 6) and I want to get
back
to Florida State again before I decide anything." He said Texas "is right
up
there. I really like the Longhorns." Jakes, who lived in Plano when he was
in
junior high, said he had "forgotten how friendly people are in Texas and
how
much they like their football." He said he had a great time, but also wants
to take another visit or two before deciding anything. The Longhorns have
16
commitments and probably will sign 22 to 25 players.
* * * *
BASEBALL RECRUITING: The Longhorn baseball team  got a commitment Monday
from
Donald Lavinski, 6-4, 205, a hard-throwing righthanded pitcher from Class
2A
state champ Weimar. He was 14-1 last season and averaged almost two
strikeouts per inning. He has good control and walked only 25 batters in 95
innings. He has been clocked as high as 93 miles per hour. He had an 0.70
ERA. He visited Texas last weekend.
* * * *
My next fax/e-mail will be whenever events warrant.
* * * *
The True Orange Fax Service includes  at  least  99 faxes  a year and costs
$99 ($79 by E-Mail). The True Orange Newsletter includes  26 newsletters
and
is published weekly during football season and twice monthly during most of
the other months. It costs $45. Save by subscribing to both for $130 (or
$110
if you take the faxes via E-Mail  or $99 if you take the faxes and
newsletter
via E-Mail). Send check  to address at the top of page. I also  update my
900 number ?1-900-288-8839 ?frequently with recruiting news. My E-Mail
address is: truorange@aol.com


I am fine with the 2 new product types.

 -----Original Message-----
From: 	Walker, Chris
Sent:	Wednesday, August 08, 2001 9:22 AM
To:	Dickson, Stacy E.
Subject:	FW: 2 New product types approval needed (CAN Gas Phy Index Firm East)

Stacy,

Mark Taylor would like an email for your approval of both product types.  The descriptions are the same but the GTC's are different.  The 1 month or less product type uses the Spot GTC and the > 1 month product uses the firm GTC.  Please respond to Mark and copy me with your approval.  Sorry for the inconvenience.  Also, Susan Musch in Tax would like to revise the Phy GTC with new tax language.  Once I hear from her I will forward you the change.

Thanks,

CW
3-7533

 -----Original Message-----
From: 	Walker, Chris
Sent:	Tuesday, August 07, 2001 12:51 PM
To:	Blumenthal, Jeff; Musch, Susan; Hayden, Frank; Moran, Tom; Taylor, Mark E (Legal); Love, Phillip M.
Cc:	Lees, Lisa; Sever, Stephanie; Jones, Tana; Lambert, Karen; Lombardi, Kelly; Elledge, Susan; Sweitzer, Tara; Kenne, Dawn C.; Moorer, Torrey; Alatorre, Carlos; Renaud, Lindsay; Meredith, Kevin; Lozano, Melba; Mandola, Teresa; Wallumrod, Ellen
Subject:	2 New product types approval needed (CAN Gas Phy Index Firm East)

Your review and approval of the following product types in the EOL Datamanager is needed (for directions on approval, please see steps for approval at the bottom of this e-mail).

******** DO NOT APPROVE PRODUCT TYPES BETWEEN THE HOURS OF 6AM - 11AM***********

CAN Gas Phy Index Firm East < or = 1Mo	(2114)
CAN Gas Phy Index Firm East >1Mo<1Yr	(2115)

Traders:
Geoff Storey
Martin Cuilla

STEPS FOR APPROVAL:

click the 	START button
select 	PROGRAMS
select 	TEST APPLICATIONS
select	ENRONONLINE CLUSTER(PROD)
	PROCEED WITH USUAL LOGIN/PASSWORD
click the	Enron Online Production Cluster "START" button
select	EnronOnline (this is the EOL Datamanager)
	PROCEED WITH EOL LOGIN/PASSWORD
click on the "+" for EnronOnline
click on the "+" for Product Types
click on the "+" for "Partially Approved"
select the product requiring review as stated in e-mail above
Right "mouse" click on "properties" to view product set-up
TO APPROVE:  Right mouse click on "Approved"


> >
> > Check it out.
> >
> >
> > People in New York and DC are going to be having to hit food banks
hard.
> > There will be a need in NY for the soup. Below is an easy way to
> help....
> >
> > Campbell's is donating a can of soup to area food banks just by
clicking
> on
> > a football helmet at their website. It's quick, easy, and can be done
> once
> a
> > day.
> >
> > Go to (http://www.chunky.com/click_for_cans.asp) then click on your
> favorite
> > team's helmet and Campbell will donated a can of soup. That is it!
> Please
> > pass this to a friend or 2,3,4...
> >
>
>
>
>
>
>
>
>
>
> _____
>
> Do You Yahoo!?
> Make a great connection at Yahoo! Personals
> .


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We are going to meet at El Tiempo tonight for drinks at around 9:00 - 9:30.
Let me know if you can make it.

Eric


---------------------- Forwarded by Mary Hain/HOU/ECT on 02/23/2001 05:18 PM
---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Jeffrey Watkiss" <dwatkiss@bracepatt.com>
02/23/2001 06:23 AM

To: <Christian.Yoder@enron.com>, <James.D.Steffes@enron.com>,
<Joe.Hartsoe@enron.com>, <Mary.Hain@enron.com>, <Richard.Sanders@enron.com>,
<steve.c.hall@enron.com>
cc: "Ronald Carroll" <rcarroll@bracepatt.com>
Subject: Re: Hendricks v. Dynegy

I have recommended this before and continue to believe that it should (and
could successfully) be pursued.  Could someone forward the Hendricks
pleading?  On instruction from Richard, I would be happy to start the
lobbying campaign at FERC (and possibly the SG's office as well) to secure
such a supportive pleading.

>>> <Mary.Hain@enron.com> 02/22/01 05:54PM >>>
Today, I worked with Robin Gibbs and Jeff Alexander on an Enron pleading in
the captioned case.  I asked if we had considered asking FERC Staff to file
a "friend of the court" brief detailing how FERC has "occupied the field"
of wholesale rate regulation.  Was this or should this be considered?


Kenneth Lay has approved the attached expense report.


Thanks.

I have already gotten the project underway.

Alan
 Alan Aronowitz


---------------------- Forwarded by Carol St Clair/HOU/ECT on 04/28/2000
02:03 PM ---------------------------

	From:  Kay Young                           04/28/2000 01:54 PM

To: Carol St Clair/HOU/ECT@ECT
cc:
Subject: Nonsolicitation provision

Carol:  Per your voice mail I am attaching a portion of a memo that has not
been circulated yet, but it summarizes the requirements, approvals and
notifications required by Corp and ENA Legal policy regarding Standstills,
Nohires and Noncompetes in confidentiality agreements.  This is the portion
relating to Nohires.
 The memo I've been working on is a summary of Jim Derrick's 10/27/99 memo
regarding required approvals plus other ENA policies and language re these
provisions.    THis language is the same as the memo from Lance that you
mentioned.
 Regarding approvals, since business persons (Detmering, Metts) must make
them there is much feeling among attorneys I work most with that business
persons should secure these approvals.

Let me know if you have comments, questions or need anything else.
K


Cindy:

Has this guaranty been processed?  We've received the original signed master agreement from the counterparty and need to deliver the original Enron Corp. Guaranty.

Thanks!

Marie

 -----Original Message-----
From: 	Heard, Marie
Sent:	Monday, August 13, 2001 3:48 PM
To:	Richardson, Cindy
Cc:	Cooper, Tracy J. (EBS)
Subject:	Enron Corp. Guaranty in Favor of Uecomm Operations Pty Limited

Hi, Cindy:

I'm assisting EBS in some of their trading work for awhile, so this is why I am sending you the attached memo requesting an Enron Corp. Guaranty.

Please let me know when the guaranty is ready and I'll arrange for pick-up.

Thanks!

Marie
x33907


Howdy everybody,

The site below has 40 or so pictures of the wedding, taken by my best buddy Misha.  More photos on the way.
 http://www.shutterfly.com/my/os.jsp?i=67b0de21b3157f56455a

Enjoy.  We did.

Mark and Sukran

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


Anita,

 It seems that I am going to London next week.  Please see forwarded emails.

 Can you please assist me with my travel arrangements.

THanks,
Iris

 -----Original Message-----
From:  Kaminski, Vince
Sent: Tuesday, April 24, 2001 5:25 PM
To: Shanbhogue, Vasant; Mack, Iris; Dhar, Amitava; Kaminski, Vince
Subject: Having Iris visit London

It's OK to delay the materials for Duffie. He is very busy anyway and is not
going to complain.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 04/24/2001
05:23 PM ---------------------------

Scott Salmon@ENRON
04/24/2001 01:23 PM
To: Amitava Dhar/Corp/Enron@ENRON
cc: Vince J Kaminski/HOU/ECT@ECT, Vasant Shanbhogue/Enron@EnronXGate, Ben
Parsons/LON/ECT@ECT, George Albanis/LON/ECT@ECT, Tomas Valnek/LON/ECT@ECT,
Bryan Seyfried/LON/ECT@ECT
Subject: Having Iris visit London

Hi Amitava,

We've been doing some thinking and discussing here regarding the information
on our modelling process we'll provide to Darryl Duffie.  We think it would
be extremely valuable for Iris to come out to London for a couple weeks to
gain a better understanding of the how the models integrate and are truly
employed.  I think this would greatly enhance the "product" we'll send to
Duffie as well as giving Iris a firm view of Enron Credit.  In addition, she
could also explore some of the data sources such as Amadeus and others that
might be helpful in private firm modelling.  If we're extremely
efficient/lucky in receiving data from D&B or Experian, she might be able to
begin analysis on that for the private model efforts.

I would recommend she plan on coming out for 2 weeks starting the week of 30
Apr perhaps.  Depending on the progress with the private firm data sources,
it probably makes sense to send her back to Houston to work on calibration
sets with a likely return visit to London as required.

Please let me know your thoughts.

Cheers,
Scott


----- Forwarded by Steven J Kean/NA/Enron on 03/29/2001 08:05 AM -----

	Peter E Weidler
	03/26/2001 08:16 AM

		 To: Steven J Kean/NA/Enron@Enron
		 cc:
		 Subject: Job well done

Your DC team -  Hillings and then Briggs were instrumental in pressuring the
Bolivian Government to pass new transportation regulations.  It looks like
the regulations are 90 % ok - and better than the old ones. -  your team got
the right pressure points and applied them well.

Thanks

Pete


Invitation from Ctr for Houston's Future - Marilou Schopper@houston.org


---------------------- Forwarded by Ami Chokshi/Corp/Enron on 06/06/2000
02:06 PM ---------------------------

troy_a_benoit@reliantenergy.com on 06/06/2000 10:35:09 AM
To: "Ami Chokshi" <Ami_Chokshi@enron.com>
cc:

Subject: copanos changes

(See attached file: HPL-June.xls)
 - HPL-June.xls


Dave,

Here's the change order we would like to process today.

Thanks,

Kay


Here is a working draft of the gas issues/diversion/penalties, etc. paper.
Becky is working on the interstate pipeline tariffs and we will insert them,
and Jeff Hidge will be sending something out about ENA legal issues, which I
will add in.  I am also going to work on this tonite, to make the individual
LDC diucssions follow a common template.  However, I wanted you to have
something to look at before the meeting tomorrow morning.  I still have a
couple of LDCs to add.  Thanks.


The article deals with the Cal ISO credit risk and the effect on power
prices.  This is on the Enron web site.
Maybe we work this into the talking points response?

       Reliant Energy: Selling Pwr To Cal ISO Could Be Risky
       Of DOW JONES NEWSWIRES

       Dec. 11, 2000
       Dow Jones Energy Service
       (Copyright (c) 2000, Dow Jones & Company, Inc.)

       (This article was originally published Friday) By Mark Golden

       LAS VEGAS (Dow Jones)--BC Hydro's concerns about the California
Independent System Operator's credit have spread quickly this week
       to other suppliers, forcing the grid operator to pay premium prices
when it can't find electric supplies, Reliant Energy's (REI) vice president
       for western U.S. trading, Reggie Howard, said Friday.

       Suppliers are concerned about the ISO's financial guarantees from the
investor-owned utilities, for whom it buys: Edison International (EIX),
       PG&E Corp. (PCG) and Sempra Energy (SRE).

       PowerEx, the power marketing unit of provincial utility BC Hydro,
demanded letters of credit from the utilities for ISO purchases this week.
       Edison complied, while PG&E refused. Sempra said that the state of
California should make the guarantee as part of a declared state of
       emergency.

       Reliant is looking at the ISO credit issue, but so far has demanded no
such letters of guarantee, Howard said.

       Other risks in selling to the ISO include the possibility that state
politicians will tell the ISO not to pay its bills.

       "when you have state Sen. Steve Peace telling San Diego residents not
to pay their electric bills two months ago, you worry about what
       might be said to the ISO. There are political risks," Howard said in
an interview with Dow Jones Newswires. Peace, a democrat from the
       San Diego area, is chairman of the California Senate Budget Committee.

       Suppliers also risk that prices on sales to the ISO could be reviewed
by the Federal Energy Regulatory Commission anytime 24 months
       after the transaction occurs, under the proposed FERC order on
California. Prices could be lowered retroactively, and refunds from the
       suppliers could be ordered. Sales to other western utilities face no
such review.

       Taken together, these risks have forced the ISO to pay a premium of at
least 10% more than market prices, according to several traders
       attending the Day of the Trader industry conference in Las Vegas
Thursday and Friday.

       "It could be 5% or 20%. We have a number, but we won't disclose it
because that's proprietary," Howard said.

       Reliant, which has 3,800 megawatts of generators in California, has no
plans to build any more plants in the state. The company is
       building a plant in Nevada, just east of the California border. The
optimal location for any new plant, Howard said, is near California, but not
       inside the state.

       Howard said that Reliant isn't looking for offers to sell its
California plants, but if a good offer came up, they would consider it.

       -By Mark Golden, Dow Jones Newswires; 201-938-4604;
mark.golden@dowjones.com


I want Charles Johnson PHI and put Kurt Warner STL on IR. I'll bid 15 for
Johnson.

I want Ahman Green GB and cut Tony Martin MIA , I'll bid 50 for Ahman.


Louise,

I would like to schedule time with you, when your schedule permits, to discuss my decision to not proceed with UBS.  I spoke at length with Hunter this morning to ensure the appropriate parties were aware of my decision.  I subsequently left a message with Rob Milnthorpe.

I appreciate your support over the last few months and wish you the best of luck.

Sincerely,

Laura Luce


Bob,

Here are all active in-the-money trades in our books as of last night.
The summary tab gives you the deal count and MTM value by month, the next tab breaks the value down by counterparty if needed.
I already sent this to Kristen.

Here are the performance deals as well, James may have already sent this to you...

Let me know if there is anything I left out.

Thanks

KK


Barry:

Good to meet you last week.  I'm out of the office until Monday, but will get on this as soon as I return.  Of this group, Dynegy is involved in the State Senate's investigation.

Best,
Jeff

 -----Original Message-----
From: 	Tycholiz, Barry
Sent:	Tuesday, September 04, 2001 6:27 PM
To:	Dasovich, Jeff
Cc:	Ward, Kim S (Houston)
Subject:	DWR Gas Supply

Jeff, further to our conversation... this is the list of companies that have entered into contractual agreements with the DWR. I don't know if this means they have transaction but perhaps between Kim Ward and yourself, you can advise.

What I need to know is the legal status/issues ( if any ) of any of the companies listed here today as it relates to the state of California.
Pan Canadian Energy Services, Occidental Energy Marketing, Dynegy Marketing and Trading , Texaco Natural Gas, BP Amoco, and Coast Energy Group.

Can you advise If any of these companies form part of ongoing legal action against the state?

Once I know this, then we can decide on a plan what we should discuss with Mark Baldwin.

Thanks in advance.

BT


Gerald,

Attached is the Cascade agreement we talked about.  Please call with questions/comments.

Dave Fuller
503-464-3732

PS - They want us to sign this as part of the deal.


Esmeralda,

I have not received any questionnaire. Can you, please, resend it.

Vince Kaminski

 -----Original Message-----
From: 	Gonzalez, Esmeralda
Sent:	Thursday, January 10, 2002 5:45 PM
To:	Lay, Kenneth; Whalley, Greg; Causey, Richard; Kean, Steven J.; Koenig, Mark; McMahon, Jeffrey; Metts, Mark; Olson, Cindy; Butts, Bob; Detmering, Tim; Donahue, Jeff; Lindholm, Tod A.; Muller, Mark S.; Rieker, Paula; Shapiro, Richard; Stabler, Frank; Taylor, Mitch; Donovan, Bill; Joyce, Mary; Menchaca, Peggy; Oxley, David; Palmer, Mark A. (PR); Port, David; Rogers, Rex; Rub, Jenny; Steffes, James D.; Waddell, Rick; Webb, Jay; Piper, Greg; Haedicke, Mark E.; Kitchen, Louise; Beck, Sally; Apollo, Beth; Dayao, Anthony; Jones, Robert W.- HR Exec; Palmer, Mark A. (PR); Pearce, Barry; Perlman, Beth; Rub, Jenny; Taylor, Mark E (Legal); Brown, Bill W.; Deffner, Joseph; Miller, Don (Asset Mktg); Lavorato, John; Allen, Phillip K.; Beck, Sally; Belden, Tim; Calger, Christopher F.; Deffner, Joseph; Detmering, Tim; Duran, W. David; Gold, Joe; Hickerson, Gary; Kaminski, Vince J; Mcclellan, George; McMahon, Jeffrey; Milnthorp, Rob; Murray, Julia; Arora, Harry; Baughman, Edward; Beyer, Michael J; Bradford, William S.; Brown, Michael; Bunnell, Don; Castleman, Kent; Collonges, Remi; Curran, Greg; Foster, Chris H.; Fox, Craig A.; Garner, Bruce; Gomez, Julie A.; Gonzales, Eric; Grigsby, Mike; Hermans, Greg; Herndon, Rogers; Hirl, Joseph; Holzer, Eric; Jones, Robert W.- HR Exec; Josey, Scott; Keel, Allan; Kinneman, Jeff; Knudsen, Sheila A.; Kohli, Sandeep; Krishnarao, Pinnamaneni; Lagrasta, Fred; Leach, Doug; Lemmons Jr., Billy; Lewis, James C.; Lewis, Richard; Luce, Laura; Malcolm, Rodney; McCullough, Travis; McMichael Jr., Ed; Melendrez, Jesus; Miller, Don (Asset Mktg); Miller, Michael; Nath, Tani; Novak, John; Oxley, David; Patrick, Michael K.; Quilkey, Paul; Reck, Daniel; Roberts, Mike A.; Sager, Elizabeth; Sanders, Richard B.; Sandt, Jim; Sayers, Rod; Schuler, Lance (Legal); Schwieger, Jim; Seyfried, Bryan; Shanbhogue, Vasant; Shapiro, Richard; Staley, Stuart; Swerzbin, Mike; Tawney, Mark; Thompson, John (London); Tricoli, Carl; Tweed, Sheila; Wantschek, Lloyd; Wiggs, Brett; Young, Steve
Cc:	Daniels, Eddy; Haedicke, Mark E.
Subject:	Enron Corp., Enron North America Corp. and Enron Net Works Questionnaires

We have not yet received your response.  Please forward your responses to the questionnaires to Eddy Daniels as soon as possible.

Please disregard this message if you have already sent your responses.  Thanks.

Sent on behalf of Eddy Daniels

Eddy Daniels
Legal Dept.
Enron North America Corp.
1400 Smith Street, ECN 3813
Houston, Texas 77002
Phone:	713.345.4753
Fax:	713.646.3490


Kay -

Do we have a confidentiality agreement with the subject company?

Thanks.

Mark
Senior Counsel, ENA
Phone:     713-345-8897
Facsimile: 713-646-3940
E-Mail:      Mark.Greenberg@enron.com


Greg --

We have received a request to participate in Energy News Live, which is an
energy news web site created by Williams, but acting independently of them.
They are seeking the opportunity to interview traders from various companies
live from their company's trading floor and they would like Enron to
participate.  The discussion would be determined ahead of time and would not
be proprietary, but rather market oriented.  They deliver the news every hour
on the hour.

Mark Frevert suggested that I visit with you regarding our interest and/or
set up a meeting between you and whoever you deem appropriate with the Energy
News Live folks to discuss.  Please advise.

Eric


For immediate release: November 14, 2001
Media Contact: Chris Davis - 916-654-4989

                               SMUD Cosumnes Power Plant Project
                                  Begins Energy Commission Review

Sacramento - The Sacramento Municipal Utility District's Cosumnes Power Plant Project took its first step in the California
Energy Commission's review process today. Commissioners voted four to zero to accept the SMUD application as data
adequate. The finding means that Energy Commission staff has enough information to begin the 12-month licensing review of
the project.

If approved and built on the proposed site near the decommissioned Rancho Seco nuclear power plant, 25 miles south of
Sacramento, the Cosumnes Power Plant Project will produce 1,000 megawatts. The combined-cycle, natural gas-fired
generation facility would be constructed in two phases. Each phase would generate 500 megawatts and consist of two
combustion turbines, one condensing steam turbine and two heat-recovery steam generators. SMUD expects the total cost of the
plant to be $595 million.

SMUD hopes to begin construction on the plant by the end of 2002, with the first phase beginning operation in spring 2005. The
second phase is projected to be ready for commercial operation by the first quarter of 2008.

After finding the proposal data adequate, the Energy Commission named Commissioner Robert Pernell to be Presiding Member
of the Cosumnes Power Plant Project Siting Committee. Commissioner Arthur H. Rosenfeld, Ph.D. will serve as Associate
Member. During the certification process, the Committee is responsible for overseeing all hearings and related proceedings on
the proposed power plant.

Some of the issues to be examined over the course of the review include environmental impacts, air quality, water, biological
resources, public health and safety, the transmission system and engineering design. As part of the review process, the
Commission and staff encourage comments from local, state and federal agencies, as well as the general public. Once the
review process is complete, the Committee will draft a formal recommendation for the other Commissioners to consider before
taking final action at a full hearing of the Energy Commission.

The Energy Commission's website provides information on the proposed project at:

                                        www.energy.ca.gov/sitingcases/smud/

Public participation is a very important part of the Energy Commission approval process. To find out how to get involved, call the
Energy Commission's Public Adviser, Roberta Mendonca, at (916) 654-4489, toll free at (800) 822-6228, or by e-mail at [
pao@energy.state.ca.us].

                                                               # # #

?? ?? ?? ?? ?? ?? ?? ?? ?? ?? ?

Derek T. Tran
Web Development Team
California Energy Commission
1516 Ninth Street   MS #29
Sacramento, CA   95814-5112

                       ???

?? ?? ?? ?? ?? ?? ?? ?? ?? ?? ?


Jerry,

Here would be the prosed trade:

For example:

Counterparty buys from Enron	jan02-dec02 nymex swap 350 contracts/mo @ current market + $2
Enron buys from TXU  		jan02-dec02 nymex swap 350contracts/mo @ current market + $2
TXU buys from Counterparty  	jan02-dec02 nymex swap 350 contracts/mo @ current market + $2

There will be no net position change for anyone. It lowers TXU's and the Counterparty's open positions and VAR with Enron. It will also replace the Counterparty's Enron credit exposure with TXU.

Enron releases TXU margin and TXU posts margin with the Counterparty based on their contractual obligations.

All the trades would fall within our existing ISDAs. Our lawyers have added some language for the confirms that would tie the trades together. That language is included below. If you have any legal questions feel free to call our lawyer Mark Taylor at 713-853-7459.

If you have any questions feel free to call me at 713-853-7058. I'll ring you latter this afternoon to go over the details and talk about possible counterparties.

Thanks for your time.

Geof Storey

"Each of the parties to this Agreement recognizes and acknowledges that the parties are acting and agreeing to perform their obligations hereunder in reliance upon (i) the timely execution and delivery by [legal name of other counterparty] ("Third Party") and Party A of a transaction in substantially the form attached hereto as Exhibit A ("Third Party Transaction A") and would not otherwise agree to execute, deliver and perform under this Agreement if Third Party and Party A were not contemporaneously executing and delivering Third Party Transaction A and (ii) the timely execution and delivery by Third Party and Party B of a transaction in substantially the form attached hereto as Exhibit B ("Third party Transaction B") and would not otherwise agree to execute, deliver and perform under this Agreement if Third Party and Party B were not contemporaneously executing and delivering Third party Transaction B. The effectiveness of this Agreement shall be subject to the condition that contemporaneously with the execution and delivery of this Agreement Party A and Third Party execute and deliver Third Party Transaction A and Party B and Third Party execute and deliver Third Party Transaction B."


We have made the  following modifications to the EnronOnline applications.

Stack Manager Changes

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

Resize floated stack windows- (Effective Tuesday September 25)

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

Website Changes ( Effective Monday September 24)

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

Please call me if you have any questions. Thanks.

Savita ( X 31787)


Copper Eagle Conducts Open Season for AZ Storage Facility
Copper Eagle Gas Storage LLC., a joint event of El Paso Corp. and Pinnacle West Energy, currently is conducting a non-binding open season to assess market interest in a proposed high-deliverability natural gas storage facility to be located west of Phoenix, AZ, in Maricopa County.
"We haven't decided whether to firmly go ahead with the project" at this point, said Sheri Foote, a spokeswoman with Pinnacle West Energy, a subsidiary of Phoenix-based Pinnacle West Capital Corp. If Copper Eagle should receive the go-ahead, however, she noted it would be the first storage facility to be located in Arizona. She would not give a timetable as to when a final decision would be made.
The storage facility would have a working gas storage capacity of 3.2 Bcf, with the capability of withdrawing the entire working gas volume in 10 days, and injecting the working gas volume in 20 days. The project, assuming it gets the green light, is expected to be in service by the fourth quarter of 2004.
The non-binding open season, which began last Tuesday, will run until Oct. 24 at 5 p.m. CDT. For more information about the project and the terms of the open season, go to web site www.coppereagleGS.com <http://www.coppereagleGS.com> or telephone Russ Kovin at (832) 676-5659.


fyi, rick
---------------------- Forwarded by Rick Buy/HOU/ECT on 12/05/2000 07:54 AM
---------------------------

John L Nowlan
12/04/2000 05:53 PM
To: Rick Buy/HOU/ECT@ECT, Jeffrey A Shankman/HOU/ECT@ECT, Mike
McConnell/HOU/ECT@ECT
cc:
Subject: VAR

Recognizing we were just below daily VAR limits today, coupled with the high
volatility in the crude and products markets, we attempted to do an interday
calc. Unfortunately it took us some time to get the right person but we did
succeed in getting an  estimate right at the close which showed we were very
near our limits as we were yesterday. I flag this up to point out it is
critical in these ,markets that we have some cover or know who we can call if
we need this type of interday analysis.


----- Forwarded by Tana Jones/HOU/ECT on 05/15/2001 02:46 PM -----

	Tom Moran/ENRON@enronXgate
	05/15/2001 02:20 PM

		 To: Karen Lambert/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Samuel
Schott/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Brant Reves/ENRON@enronXgate,
Debbie R Brackett/ENRON@enronXgate, David Hardy/LON/ECT@ECT, Lesli
Campbell/ENRON@enronXgate, Cynthia Clark/ENRON@enronXgate, Enron Europe
Global CounterParty/LON/ECT@ECT, Stephanie Sever/ENRON@enronXgate, Tom
Moran/ENRON@enronXgate, Claudia Clark/ENRON@enronXgate, William S
Bradford/ENRON@enronXgate, Lisa Lees/ENRON@enronXgate, Juana
Fayett/Corp/Enron@Enron, Jana Morse/Corp/Enron@Enron, Trang Le/HOU/ECT@ECT,
Paul Maley/LON/ECT@ECT, Sonya Clarke/LON/ECT@ECT, Tim Davies/LON/ECT@ECT,
Karen O'Day/ENRON@enronXgate, Tanya Rohauer/ENRON@enronXgate, Kelly
Lombardi/NA/Enron@Enron, Brian Lindsay/Enron Communications@Enron
Communications, EOL Call Center@ECT, Bill D Hare/HOU/ECT@ect, Amy
Heffernan/Enron Communications@Enron Communications, Molly LaFuze/Enron
Communications@Enron Communications, Danny Clark/Enron Communications@Enron
Communications, Stephanie Panus/NA/Enron@Enron, Teresa
Mandola/ENRON@enronXgate, Bill Kyle/ENRON@enronXgate, Amber Ebow/HOU/ECT@ECT,
Wendi Lebrocq/ENRON@enronXgate
		 cc:
		 Subject: EOL Approvals: 05-14-01  (Re-send)

Please see attached

Regards,
Tom Moran
3-3017


Bill

You are probably aware that Enron has gone unconditional on its offer to buy
MG, a metal company here in London.
The objective is to integrate with them ASAP and as smoothly as possible.

I made a visit with MG today and talked to their FX trader who said that he
trades with the following banks:
CIBC
Deutche Bank
Commerz Bank
Metall Bank

Can you please tell me what lines we have in place with these, if any at all.

Sara
Do we have isdas etc in place?

Most of the trades are spot or 3mth forward, but some trades are up to four
years out.

Thanks
Trena


We already knew it.  More importantly, I'd extend his thought to every competitive retail market in the US!!!!

Jim

 -----Original Message-----
From: 	Hetrick, Nancy
Sent:	Friday, November 09, 2001 3:47 PM
To:	Kingerski, Harry; Steffes, James D.
Subject:	FW: Good Tidings!

Not that this means too much now but it is still nice to hear.

Nancy A. Hetrick
Enron Corp.
Director, Government Affairs
Phone:  712-366-3399
Pager:   888-912-1426

 -----Original Message-----
From: 	George Behr <GBehr@EnergyServicesGroup.net>@ENRON
Sent:	Friday, November 09, 2001 2:59 PM
To:	Hetrick, Nancy
Subject:	Good Tidings!

Nancy,

Jeff Holligan @  BP passed on that you were probably the most under-appreciated, highly-valuable  person in the Texas marketplace.  I concur..

Peace..

G

George M.  Behr
Energy Services  Groupgbehr@EnergyServicesGroup.net << File: mailto:gbehr@EnergyServicesGroup.net >>
717.975.1927 -  Office
717.580.5482 - Mobile
1500 Marlton Road
Mechanicsburg, PA 17050

"Access to Every  Competitive Energy Market"
www.EnergyServicesGroup.net


---------------------- Forwarded by Tana Jones/HOU/ECT on 01/06/2000 04:38 PM
---------------------------

Molly Harris
01/06/2000 04:36 PM
To: Frank L Davis/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, Tana
Jones/HOU/ECT@ECT, Samuel Schott/HOU/ECT@ECT
cc: Bob Shults/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Bernice
Rodriguez/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT, Brant Reves/HOU/ECT@ECT, Debbie
R Brackett/HOU/ECT@ECT, William S Bradford/HOU/ECT@ECT, Brian
Hunter-Lindsay/LON/ECT@ECT, Ian Sloman/LON/ECT@ECT, Coenraad
Basson/LON/ECT@ECT, Bhautik Patel/LON/ECT@ECT, David Hardy/LON/ECT@ECT, David
Weekes/LON/ECT@ECT, Sylvia A Campos/HOU/ECT@ECT, Carrie Southard/HOU/ECT@ECT,
Lisa Gillette/HOU/ECT@ECT
Subject: EOL Credit Responses 1/6

Please find attached Credit's EOL responses for 1/6/00.

Regards
Molly


----- Forwarded by Steven J Kean/NA/Enron on 01/28/2001 08:55 PM -----

	Expense Server@Enron_Development
	01/22/2001 03:46 PM

		 To: Steven J Kean/NA/Enron@Enron
		 cc:
		 Subject: <<Concur Expense Document>> - Miscellaneous

The following expense report is ready for approval:

Employee Name: Mark A. Palmer
Status last changed by:  Automated Administrator
Expense Report Name: Miscellaneous
Report Total: $524.47
Amount Due Employee: $524.47

To approve this expense report, click on the following link for Concur
Expense.
http://nahou-wwxms01p


---------------------- Forwarded by Darron C Giron/HOU/ECT on 01/03/2001
03:38 PM ---------------------------

PNR-united air lines <united@getthere.com> on 01/03/2001 03:30:36 PM
To: undisclosed-recipients:;
cc:
Subject: GIRON, DARRON

**************************************************************************
   Thank you for your purchase.  To make changes to your reservation please
call 1-800-241-6522.
   TRAVEL BOOKING CONFIRMATION
   Your E-Ticket Receipt can be viewed by logging on to www.united.com and
clicking Past Itineraries.
  Your E-Ticket was issued

Issued  Wed Jan  3 13:26:16 2001
**************************************************************************
Reservation #1 UA-Q5LFZA
Name         : Darron Giron
               14343 Millstone Estates
               Cypress, TX  77429
               USA
Day Phone    : 713-853-9573
Home Phone   : 281-304-8303
Email        : dgiron@enron.com
Shipment     : E-Ticket
  Name(s) of people traveling:
Darron Giron (standard meal) ((none))
Kristi Giron (standard meal) ((none))
Christopher Giron (standard meal) ((none))
Carley Giron (standard meal) ((none))
Clay Fitzgerald (standard meal) ((none))
**********************   Itinerary   ************************
AIR> Mar 10 UA# 1245  IAH --> DEN   7:43 pm 9:09 pm
AIR> Mar 17 UA# 1294  DEN --> IAH   7:45 am 11:00 am
*************************************************************
  This customer was quoted USD 286.50
  (per person) for this trip

  Frequent Flyer Numbers:
Carrier *1 United    Number: 03077755780


Hi Paul - I am alive  but barely.  California is dark and so and I. Hope to
talk to you soon.


please print
----- Forwarded by Elizabeth Sager/HOU/ECT on 02/06/2001 12:17 PM -----

	"Richard Josephson" <rcjosephson@stoel.com>
	02/06/2001 11:24 AM

		 To: nolan.steiner@avistacorp.com, dvermillion@avistaenergy.com,
rmcmanus@bakerbotts.com, cgunter@bracepatt.com, dwatkiss@bracepatt.com,
pfox@bracepatt.com, rcarroll@bracepatt.com, GFergus@brobeck.com,
dmbutz@butzdunn.com, andrzej_kabarowski@cargill.com,
phillip_fantle@cargill.com, psteele@coral-energy.com, kjohan@dwp.ci.la.ca.us,
jdne@dynegy.com, jmpa@dynegy.com, elizabeth.sager@enron.com,
mary.hain@enron.com, richard.b.sanders@enron.com, sstack@enron.com,
jheath@fulbright.com, jfrizzell@gibbs-bruns.com, sbishop@gibbs-bruns.com,
gkeltner@jsslaw.com, mghelms@jsslaw.com, dpickett@mdbe.com,
gerspamer@mofo.com, kirvin@mofo.com, rloeffler@mofo.com, bcurrey@omm.com,
jstamper@omm.com, john.fryer@PacifiCorp.com, rbstrong@painehamblen.com,
thord@perkinscoie.com, jtiffany@pillsburywinthrop.com,
nancy.loftin@pinnaclewest.com, Timothy.Bolden@pinnaclewest.com, awu@qeuo.com,
hao@quinnemanuel.com, mderstine@rhd-law.com, rheyman@rhd-law.com,
wdsmith@sempra.com, rbeitler@sempratrading.com, aorchar@smud.org,
jdalfano@srpnet.com, paramfjord@stoel.com, mbrosterman@stroock.com,
mgoldstein@stroock.com, pjazayeri@stroock.com, theftler@stroock.com,
ayudkowsky@strook.com, cfr@vnf.com, gdb@vnf.com, hes@vnf.com
		 cc:
		 Subject: Contract Commendeering Articles

Per our conference call.

Richard C. Josephson
Stoel Rives LLP
900 SW Fifth  Avenue, Suite 2600
Portland, OR 97204-1268
DD: 503-294-9537
Fax: 503-220-2480
email: rcjosephson@stoel.com

 - CBS Marketwatch - SoCal Edison defaults on commercial paper.ht
 - CBS Marketwatch - California Governor seizes more power contra


Lissa:

Enron Corp. does not give unlimited guaranties.  The amount will be determined by our Credit Department based upon the credit in your draft ISDA.

Marie

 -----Original Message-----
From: 	"Rosenthal, Lissa" <lissa.rosenthal@csfb.com>@ENRON [mailto:IMCEANOTES-+22Rosenthal+2C+20Lissa+22+20+3Clissa+2Erosenthal+40csfb+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Friday, August 24, 2001 10:10 AM
To:	Heard, Marie
Subject:	RE: ISDA Master Agreement

Marie,

One more quick question.  In line 1 (b) below in the guaranty, the cap
amount of the guarantee was left blank.  Is Enron willing to not cap the
guaranty amount, or does this term still need to be negotiated?  Thanks,

 - Lissa

"1 (b)  The aggregate amount covered by this Guaranty shall not exceed U.S.
$________."

-----Original Message-----
From: Heard, Marie [mailto:Marie.Heard@enron.com]
Sent: Thursday, August 23, 2001 4:37 PM
To: lissa.rosenthal@csfb.com
Subject: ISDA Master Agreement

Lissa:

I must be having problems with my e-mail as I tried to reply to yours
and was told it couldn't be delivered, so that's why I'm sending you a
new one rather than a reply.

Attached is the proposed form of guaranty that Enron Corp. will provide.
ECT Investments would only collateralize above the threshold, since you
would have a guaranty for the rest.

We look forward to receiving your schedule.

Marie

Marie Heard
Senior Legal Specialist
Enron North America Corp.
Phone:  (713) 853-3907
Fax:  (713) 646-3490
marie.heard@enron.com

				 <<csfbguar(ect inv.).doc>>

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

This message is for the named person's use only.  It may contain
confidential, proprietary or legally privileged information.  No
confidentiality or privilege is waived or lost by any mistransmission.
If you receive this message in error, please immediately delete it and all
copies of it from your system, destroy any hard copies of it and notify the
sender.  You must not, directly or indirectly, use, disclose, distribute,
print, or copy any part of this message if you are not the intended
recipient. CREDIT SUISSE GROUP and each of its subsidiaries each reserve
the right to monitor all e-mail communications through its networks.  Any
views expressed in this message are those of the individual sender, except
where the message states otherwise and the sender is authorised to state
them to be the views of any such entity.
Unless otherwise stated, any pricing information given in this message is
indicative only, is subject to change and does not constitute an offer to
deal at any price quoted.
Any reference to the terms of executed transactions should be treated as
preliminary only and subject to our formal written confirmation.


(See attached file: HPLN0315.xls)

 - HPLN0315.xls


Sara,

Looks like we never received the forward confirmations.   We did receive the
put confirmations, which were received last week.

Please have the forward confirmations faxed to me today at 646-758-4819.

Russell F. Hackmann, CFA
Lehman Brothers Corporate Equity Derivatives
(201) 524-2279 phone
(917) 596-2936 cell
rhackman@lehman.com

> -----Original Message-----
> From:	Shackleton, Sara [SMTP:Sara.Shackleton@ENRON.com]
> Sent:	Monday, October 15, 2001 4:44 PM
> To:	Hackmann, Russell
> Subject:	FW: Re: confirmation of agreement--Enron
>
> Russ:
>
> The forwards and puts should be signed and faxed back to Lehman.  Please
> note the template for these trades (with respect to the definition of
> "material") left out the word "into".  I didn't find it necessary to
> impede Enron Corp.'s signature; just let Phil know for the next deal.
> Thanks.  Sara
>
> Sara Shackleton
> Enron Wholesale Services
> 1400 Smith Street, EB3801a
> Houston, TX  77002
> Ph:  (713) 853-5620
> Fax: (713) 646-3490
>
>
> -----Original Message-----
> From: Armogida, Jim
> Sent: Monday, October 01, 2001 9:16 AM
> To: Shackleton, Sara
> Subject: FW: Re: confirmation of agreement--Enron
>
>
> Here it is, Sara.
>
>
>
> -----Original Message-----
> From: Ladas, Michael [mailto:Michael.Ladas@lehman.com]
> Sent: Friday, September 28, 2001 1:28 PM
> To: Despain, Tim; Armogida, Jim; Freeland, Clint
> Cc: Karna, Angie; Hackmann, Russell
> Subject: RE: Re: confirmation of agreement--Enron
>
>
> Tim - we are comfortable with the changes to the definition of
> "material"
> given that Lehman is not entering the market as a result of "rolling"
> the
> transaction.  Should we amend the transaction in or enter in any future
> transaction where we enter the market on behalf of ENE, we would require
> the
> "standard" definition of "material.
>
> Mike Ladas
> p.201-524-2279
> c.646.319.3220
> e.mladas@lehman.com
>
> > -----Original Message-----
> > From:	Despain, Tim [SMTP:Tim.DeSpain@ENRON.com]
> > Sent:	Friday, September 28, 2001 1:25 PM
> > To:	Ladas, Michael
> > Subject:	FW: Re: confirmation of agreement--Enron
> >
> >
> > As discussed.
> >
> > Tim
> >
> >
> > >  -----Original Message-----
> > > From: 	Armogida, Jim
> > > Sent:	Friday, September 28, 2001 11:42 AM
> > > To:	'rhackman@lehman.com'
> > > Cc:	Freeland, Clint; Glisan, Ben; Despain, Tim; Walls Jr., Rob;
> > > Rogers, Rex
> > > Subject:	Re: confirmation of agreement--Enron
> > >
> > > Russ--Clint is out today, but the confirmation document is fine
> except
> > > that there is a tweak we need to make to the definition of
> "material"
> > > information contained in the representation by Party B in the
> > > confirmation.  It should read as follows:
> > >
> > > 	"Material" information for these purposes is any information to
> > > which Party A would reasonably attach importance in entering into
> this
> > > Transaction or placing any order with respect to this Transaction.
> > >
> > >
> > > I assume this is satisfactory.  If not or you would otherwise like
> to
> > > discuss it, please contact Rex Rogers at 853-3069 since I will be
> out
> > > of the office later today.  Thanks.
> > >
> > >
> > >
> >
> >
> > **********************************************************************
> > This e-mail is the property of Enron Corp. and/or its relevant
> affiliate
> > and may contain confidential and privileged material for the sole use
> of
> > the intended recipient (s). Any review, use, distribution or
> disclosure by
> > others is strictly prohibited. If you are not the intended recipient
> (or
> > authorized to receive for the recipient), please contact the sender or
> > reply to Enron Corp. at enron.messaging.administration@enron.com and
> > delete all copies of the message. This e-mail (and any attachments
> hereto)
> > are not intended to be an offer (or an acceptance) and do not create
> or
> > evidence a binding and enforceable contract between Enron Corp. (or
> any of
> > its affiliates) and the intended recipient or any other party, and may
> not
> > be relied on by anyone as the basis of a contract by estoppel or
> > otherwise. Thank you.
> > **********************************************************************
>
>
> ------------------------------------------------------------------------
> ------
> This message is intended only for the personal and confidential use of
> the designated recipient(s) named above.  If you are not the intended
> recipient of this message you are hereby notified that any review,
> dissemination, distribution or copying of this message is strictly
> prohibited.  This communication is for information purposes only and
> should not be regarded as an offer to sell or as a solicitation of an
> offer to buy any financial product, an official confirmation of any
> transaction, or as an official statement of Lehman Brothers.  Email
> transmission cannot be guaranteed to be secure or error-free.
> Therefore, we do not represent that this information is complete or
> accurate and it should not be relied upon as such.  All information is
> subject to change without notice.
>
>

------------------------------------------------------------------------------
This message is intended only for the personal and confidential use of the designated recipient(s) named above.  If you are not the intended recipient of this message you are hereby notified that any review, dissemination, distribution or copying of this message is strictly prohibited.  This communication is for information purposes only and should not be regarded as an offer to sell or as a solicitation of an offer to buy any financial product, an official confirmation of any transaction, or as an official statement of Lehman Brothers.  Email transmission cannot be guaranteed to be secure or error-free.  Therefore, we do not represent that this information is complete or accurate and it should not be relied upon as such.  All information is subject to change without notice.


---------------------- Forwarded by Chris Germany/HOU/ECT on 12/28/99 07:47
PM ---------------------------

pdrexel@columbiaenergygroup.com on 12/28/99 02:21:36 PM
To: Dan Junek/HOU/ECT@ECT, Chris Germany/HOU/ECT@ECT
cc:
Subject: January 1, 2, 3, Tn ZN6 citygates

---------------------- Forwarded by Paul Drexelius/CES/ColumbiaGas on 12/28/99
02:28 PM ---------------------------

Marianne Stiles
12/28/99 02:17 PM

To: Karen Bobb/CES/ColumbiaGas@ColumbiaGas
cc: Noel Bartlo/CES/ColumbiaGas@ColumbiaGas, Scott
Goodell/CES/ColumbiaGas@ColumbiaGas, Paul
Drexelius/CES/ColumbiaGas@ColumbiaGas
Subject: January 1, 2, 3, Tn ZN6 citygates

Karen - All but S. Ct. and Boston Gas are good to nom.   Please let me know
k#'s.   Scott called me earlier and told me we are expecting a capacity piece
of 1000 dth and we bought the remaining delivered.   Whom did we purchase the
delivered from?   (I would like to call the supplier and give them the
breakdown so that I can get a contract number).

Noel - Also as per our earlier conversation, Yankee is giving me until 4:30
p.m. to turn in a contract # for their noms.   They are quoting their tariff
as
we have never turned our contract number in to them on time.    I need a
contract number for Tennesse and AGT for Yankee.   It is urgent.


Attached is the first draft with all the legalese of the TCPL
settlement,which Enron has indicated it will not be party to.  I have not yet
looked at it in detail and do not plan on covering next week's meeting's
except for discussions about the IT floor.  Any concerns or questions let me
know.
Kevin
---------------------- Forwarded by Kevin Heal/CAL/ECT on 03/14/2001 04:22 PM
---------------------------

"Marg Seeger" <marg_seeger@transcanada.com> on 03/14/2001 04:10:08 PM
To: John Guerriero <jguerriero@duke-energy.com>, Debbie Harris
<debbie_harris@transcanada.com>, Phi Dang <PDang@gazoductqm.com>, Adam White
<adam_white@transalta.com>, Bill Wible <bill_wible@iroquois.com>, Bob Fraser
<bobfraser@aec.ca>, Brian Howell <behowell@interlog.com>, Brian Ridley
<bridley@hydro.mb.ca>, Brian Troicuk <troicuk@capp.ca>, Brian White
<bswhite@ceg.com>, Brian Woods <brian_woods@email.mobil.com>, Cheryl Worthy
<worthycg@bp.com>, Chuck Baumgart <cbaumgart@renaissance.ca>, Debbie White
<debbwhit@marathoncanada.com>, Diane Cameron <diane_cameron@nexeninc.com>,
Doug Holgate <doug.holgate@husky-oil.com>, Frank Brennan
<frank.brennan@cgc.enbridge.com>, Gilles Favreau
<favreau.gilles@hydro.qc.ca>, Ken Hadley <ken_hadley@pcp.ca>, Kevin Heal
<kevin.heal@enron.com>, Kurt McKnight <kmcknight@uniongas.com>, Lisa McMahon
<lisa.mcmahon@neg.pge.com>, Lyne Mercier <lmercier@gazmet.com>, Martin
Imbleau <mimbleau@gazmet.com>, mike verwegen <mverwegen@uniongas.com>, Mike
Stedman <mstedman@uniongas.com>, Murray Samuel
<murray_samuel@transcanada.com>, Robert Agnello <ragnello@edisonmission.com>,
Robert Andrews <randrews@coral-energy.com>, Peter Fournier
<pfournier@igua.ca>, Ron Moore <ronald.moore@esso.com>, Ronald Richard
<ronald.richard@mrn.gouv.qc.ca>, Shonda Day <days@epenergy.com>, Suzanne
Boucher-Chen <suzanne.boucher-chen@mirant.com>, Vern Gorr
<vgorr@saskenergy.sk.ca>, Frederic Morel <fmorel@gazmet.com>, Isabelle Quach
<iquach@gazmet.com>, Robert Rowe <rob.rowe@cgc.enbridge.com>, Richard King
<rking@powerbudd.com>, Dan Collins <dacollins@negm.com>, Mike Lucy
<mslucy@negm.com>, Nick Schultz <schultz@capp.ca>, Howard Stephens
<hstephens@hydro.mb.ca>, Brent Moen <bmoen@hydro.mb.ca>, Jeremy Slasor
<jeremy.slasor@demloak.com>, Jim Fisher <jfisher@duke-energy.com>, Janet
Holder <janet.holder@cgc.enbridge.com>, Rob Hemstock <rhemsto@ect.enron.com>,
Aleck Dadson <adadson@ect.enron.com>, Normand Stevenson
<nstevenson@gazmet.com>, Randy Fryer <rfryer@northlandpower.com>, Alan Reid
<alan_reid@pcp.ca>, John MacPherson <macpher@petro-canada.ca>, Alain Lefebvre
<alain.lefebvre@mrn.gouv.qc.ca>, craigl <craigl@cnrl.com>, swong
<swong@northlandpower.com>, rinde_powell <rinde_powell@pcp.ca>, "ed.bruton"
<ed.bruton@neg.pge.com>, Marg Seeger <marg_seeger@transcanada.com>, lnixon
<lnixon@tmvgas.com>, "jill.page" <jill.page@gov.ab.ca>, Max Feldman
<max_feldman@transcanada.com>, "bernard.kramer"
<bernard.kramer@mcnenergy.com>, bartlon <bartlon@epenergy.com>, sharon
johnson <sharonej@telusplanet.net>, Jack Hawks <jack.hawks@neg.pge.com>,
Frank Basham <fbasham@talisman-energy.com>, "carol.nykolyn"
<carol.nykolyn@gov.ab.ca>, Tomasz Lange <Tomasz.Lange@mirant.com>, Paul
Manders <Paul.Manders@est.gov.on.ca>
cc:
Subject: Services & Pricing - MOU

Attached is the Draft MOU for discussions next week.

We will be meeting at the Hyatt Regency, 700 Centre Street South, in the
Bannerman Room beginning at 9am Monday March 19, 2001.  Meetings are
scheduled all day Monday through Thursday, and the morning only for
Friday.

 - MAINLINE SETTLEMENT Draft 3.doc
 - marg_seeger.vcf


The Southeast RTO orders are out and have followed through with what we expected from the discussion at the FERC meeting.

The SPP and Entergy RTO proposals have been rejected because they fail to satisfy the scope and configuration requirements of Order No. 2000.  The Commission  notes that the required discussions between SPP and Entergy and its neighboring RTO/TOs has led to no increase in the original scope and configuration.  The filings by SPP and Entergy were brief, indicating only a lack of interest by other RTOs or utilities in joining to enlarge scope; they failed to specify any details of the talks, what changes could be made or what could be fixed to accomodate combination with other RTOs.  The order states that the Commission favors the development of large, regional transmission organizations reflecting natural markets.  The Commission indicates that they favor four RTOs - NE, SE, MW and West.  Therefore the order requires the participants in SPP and Entergy to participate in settlement discussions as set out in the mediation order.  Note that these meetings will start next Tuesday, July 17 before a FERC ALJ.

The Southern Company RTO is also found by the FERC to fail the scope characteristics of Order No. 2000.  The order finds that Southern's approach to focus on MOUs and seams issues with its neighbors is inadequate.  The order states, "We reiterate: the Commission's goal is to have a single RTO in the Southeast, and to have that single RTO operational as soon as possible."  The Commission recognizes that start-up costs in forming a larger RTO may be more, but that over the longer term, large RTOs will foster market development, will provide increased reliability and will result in lower wholesale electricity prices.  The order therefore directs the parties to the mediation as stated above.

The Grid South participants are also directed to the mediation which is starting on next Tuesday.  It is a lengthier order with more details on other aspects of RTOs, including Independent Board requirement, congestion managment, interconnection procedures, planning process and CBM.  Therefore, I am attaching a summary of the order.  One of the important findings of the order is that GridSouth is not sufficiently independent; the Applicant TOs are making policy decisions that should be made by an independent board.  Therefore, the order requires GridSouth to install an independent board and file a compliance filing within 90 days.

If anyone wants copies of the orders, let me know.


Thida also contributed this article from the Economist 25-Sep-99

A new economy for the New World: Inflation may not be as dead as it seems

ONCE upon a time sailors went to
sea in the belief that the earth was flat, putting them at risk of dropping
off the edge. Fortunately the discovery that it was round solved that
problem. Economic thinking about monetary policy and inflation has undergone
a similar about-turn.
In the 1960s, the conventional economic wisdom was that monetary policy
could reduce unemployment. The theoretical underpinning for this was the
Phillips curve, named after Bill Phillips, an economist from New Zealand
based at the London School of Economics. Mr Phillips, also a trained
engineer, constructed a machine to demonstrate the workings of the economy,
using water to represent liquidity. In 1958 he published a study showing
that between 1861 and 1957 some kind of trade-off between wage inflation and
unemployment seemed to have been operating in Britain: when unemployment was
high, inflation was low, and vice versa. This seemed to suggest that central
banks could permanently reduce unemployment by tolerating a bit more
inflation.

A decade later, however, two American economists, Milton Friedman and Edmund
Phelps, challenged this theory. The trade-off between inflation and
unemployment, they argued, was only short-term, because once people came to
expect higher inflation, they would demand higher wages, and unemployment
would rise back to its "natural rate", which depended on the efficiency of
the labour market. There was no long-term trade-off between inflation and
unemployment: in the long run, monetary policy could influence only
inflation. If policymakers tried to hold unemployment below its natural rate
(also known by an acronym, NAIRU , the non-accelerating inflation rate of
unemployment), inflation would be pushed ever higher.

Just as Messrs Friedman and Phelps had predicted, the level of inflation
associated with a given level of unemployment rose through the 1970s, and
policymakers had to abandon the Phillips curve. Today there is a broad
consensus that monetary policy should focus on holding down inflation. But
this does not mean, as is often claimed, that central banks are "inflation
nutters", cruelly indifferent towards unemployment.

If there is no long-term trade-off, low inflation does not permanently choke
growth. Moreover, by keeping inflation low and stable, a central bank, in
effect, stabilises output and jobs. Don Brash, governor of the Reserve Bank
of New Zealand, explains how this happens, using 4. The straight line
represents the growth in output that the economy can sustain over the long
run; the wavy line represents actual output. When the economy is producing
below potential (ie, unemployment is above the NAIRU ), at point A ,
inflation will fall until the "output gap" is eliminated. When output is
above potential, at point B , inflation will rise for as long as demand is
above capacity. If inflation is falling (point A ), then a central bank will
cut interest rates, helping to boost growth in output and jobs; when
inflation is rising (point B ), it will raise interest rates, dampening down
growth. Thus if monetary policy focuses on keeping inflation low and stable,
it will automatically help to stabilise employment and growth.

The Fed clearly understands this relationship between inflation and the
output gap, but initial signs suggest that the ECB may underestimate the
extent to which it can safely hold interest rates low in the short run to
boost output and jobs. It has repeatedly said that lower interest rates
cannot reduce unemployment. That is undoubtedly true in the long run, but if
an economy is operating below potential and the jobless rate is above the
NAIRU , then interest rates can safely be cut, and hence output boosted,
without pushing up inflation. Statements by ECB officials often appear to
suggest that all of the 10% unemployment rate in the euro area is structural
and none of it cyclical. However, estimates from the IMF suggest that output
in the area is currently almost 2% below potential, ie, the economy is
operating at point A . With growth in the euro area starting to pick up, the
ECB is already muttering about a rise in interest rates. But it is far too
soon: the area still has a significant output gap that will continue to hold
down inflation.

Is a bit of inflation good for you

When inflation was in double digits, central banks had a simple rule: bring
it down. But now that the rate in almost all rich economies is 2% or less,
they are being forced to ask: how low? This is hotly debated, because some
economists believe that inflation has economic benefits as well as costs.

Consider, first, the costs. When inflation is high, people find it difficult
to distinguish between changes in average prices and changes in relative
prices. For example, a firm cannot tell if a rise in the price of copper
reflects general inflation or a scarcity of the metal. This distorts
important price signals, leading to a misallocation of resources. Inflation
also creates uncertainty about the future, which reduces investment. And
lastly, because of the way inflation interacts with tax systems, which are
never fully indexed for inflation, it reduces the real return on saving and
hence reduces future growth.

Inflation in double digits clearly does considerable harm, but what about
lower rates? And does 5% inflation do more damage than 2%, or zero? Yes,
answers Martin Feldstein, president of the National Bureau of Economic
Research*. He believes that even modest inflation can do significant damage
through its effect on saving. Tax is levied on nominal interest income, so
as inflation rises, the real after-tax return on savings comes down and
people save less, which depresses future growth rates. Mr Feldstein
estimates that in America a cut in inflation from 2% to zero would
permanently increase the level of GDP by 1%. To reduce inflation by two
percentage points would involve a one-off loss in output of 5% of GDP , but
the discounted present value of the future annual gains, of around 35% of
GDP , would far outweigh the loss. Zero inflation, he concludes, is a worthy
goal.

Yet there is little empirical evidence that lower inflation rates do
noticeably improve growth performance once inflation is below 5%, say. A
scatter plot of inflation against growth for a range of countries shows no
clear trend (see 5). A study by Robert Barro, an economist at Harvard
University, found that a reduction in inflation of one percentage point
increases the annual growth rate by a paltry 0.02 of a percentage point.

Some economists go much further, arguing that modest inflation, of perhaps
3-4%, is good for growth and employment. Nominal wages, they say, tend to be
rigid downwards. Workers may be prepared to put up with flat wages when the
inflation rate is 3%, which amounts to a decline in real income, but they
are reluctant to accept a pay cut in money terms. So if the inflation rate
is zero, real wages cannot be adjusted downwards in declining industries or
regions, which means that unemployment will rise. Inflation, the argument
runs, greases the wheels of the labour market, allowing real wages to adjust
more smoothly.

A widely cited study by the Brookings Institution+, which examined pay in
America since 1959, confirmed that very few people take nominal wage cuts in
any year. However, the problem of wage "stickiness" may be overstated. There
have been few periods in the past when inflation has been less than 3% for
an extended period, so it is not surprising that falling wages are rare. If
inflation were to remain low, resistance to wage cuts might fade. Indeed, in
Japan wages have been falling over the past two years. And as long as
productivity is rising, allowing unit labour costs to fall, there may be no
need for nominal pay cuts anyway. America's recent experience certainly
suggests that nominal wage rigidities are no cause for concern: unemployment
has continued to fall even though average inflation over the past three
years has been only 2%.

A second common worry about zero inflation is that interest rates cannot
fall below zero, so there is no way of allowing real interest rates to
become negative to help the economy out of a recession. But the need for
negative real interest rates may be exaggerated. Mervyn King, a deputy
governor of the Bank of England, argues that negative real interest rates
have been rare in America during the past half-century?. During most
recessions, low real interest rates have been enough to boost demand. The
only time when there might be a problem is if the economy suffers a shock
when the output gap is already large and inflation below target because
policymakers have failed to react to a previous slump in demand. A
pre-emptive policy which aims to prevent inflation going below target as
well as above, argues Mr King, minimises the need for negative real interest
rates.

The final and most serious concern is that if central banks aim for zero
inflation, prices are more likely to fall for brief periods, and the
experiences of the 1930s and Japan today show that deflation can be more
dangerous than modest inflation. But falling prices are not necessarily a
problem. Before the first world war, a decline in the average price level
was quite common during periods of rapid technological change, such as the
late 19th century; yet these were also periods of strong growth. This is
quite different from the harmful sort of deflation seen during the Great
Depression. Moreover, the odd year of falling prices does not matter so long
as it does not feed expectations that they will continue to fall, causing
households to delay spending.

On balance, the benefits of retaining some inflation are probably
overstated. Price stability reduces uncertainty and so offers the best
economic environment for firms and households. So why do central banks not
invariably aim for zero inflation? The answer is that official
consumer-price indices tend to overstate the true rate of inflation in all
countries, because they do not adjust fully for improvements over time in
the quality of goods and services. Estimates suggest that in most countries
the official consumer-price index overstates inflation by around 0.5-2.0% a
year. This is the best reason why central banks should aim for a slightly
positive inflation rate.

Flat-earth economics

With rates of consumer-price inflation of 2% or under, most rich countries
have therefore more or less achieved "price stability". However, that does
not mean that central bankers can go out on the town and celebrate. Despite
subdued inflation, the big three central banks all face their own particular
dilemmas. Japan's economy is still at risk from deflation. The ECB is having
to deal with the added uncertainty of a completely new currency, which has
made the bank's monetary policy extra cautious at a time when output in the
euro area is stuck below its potential. As for the American economy, the Fed
is baffled because inflation is currently lower than any economic model
would have predicted.

Under the old economic rules, if unemployment fell below the NAIRU (thought
to be around 5.5%), inflation would start to rise. This, in turn, implied
that the maximum rate of growth the American economy could safely sustain
(adding up growth in the labour force and in productivity) was about
2.25-2.5%. Today America's jobless rate stands at a 30-year low of 4.2% and
GDP has grown at an average rate of almost 4% a year over the past three
years. According to the textbooks, inflation should be rising. Instead,
America's underlying inflation rate has remained subdued. Hence all the talk
about the Goldilocks economy-neither too hot nor too cold.

One popular explanation of why strong growth has not pushed up inflation is
that the American economy is undergoing a paradigm shift. In this "new
economy", it is argued, information technology and increased global
competition have opened up new investment opportunities and boosted
productivity growth. Mr Greenspan himself frequently sings the praises of
the IT revolution, and talks of a "once-a-century phenomenon". Other
economists go further and argue that in this new era of low inflation the
Fed can throw away its rulebook: the notions of a NAIRU and a maximum
sustainable rate of growth have become redundant. Inflation is dead.

Then again, perhaps not. America's productivity growth in the non-farm
sector has indeed increased, to an annual average of 2% over the past three
years, twice the average over the previous 25 years. The big question is
whether this is just a cyclical blip or a permanent increase in trend
growth. If (a big if) this increase is maintained, it may raise the economy'
s non-inflationary speed limit to 3% a year, say. But that does not mean
there are no limits to growth: if it continues at its recent pace and the
labour market continues to tighten, inflation is bound to rise.

Some people may want to believe in economic miracles, but there is an
alternative explanation for America's low rate of inflation. The country has
benefited from four favourable factors. First, weak oil and commodity prices
until earlier this year, and a strong dollar and weak overseas demand,
especially in Asia, have held down import prices. Second, an investment boom
has created excess capacity which has made it hard for firms to pass on wage
increases in higher prices. Although unemployment is at a 30-year low,
America's capacity utilisation is well below its historical average. Third,
non-wage labour costs have been curbed by a booming stockmarket, which has
allowed firms to reduce their contributions to employee pension plans. And
fourth, the inflation rate has been nudged down by changes in the way of
measuring it.

By holding down prices, these factors have in turn helped to restrain wages.
But the old relationship between a tight labour market and wage growth
remains alive and well: real wage growth has accelerated over the past few
years, as you would expect when the unemployment rate is below the NAIRU .
This may have been temporarily offset by the favourable factors, but as
these effects wear off, inflation is likely to creep up again. Oil prices
are already rising; the dollar has slipped; and recovery in the rest of the
world will push up import prices. There are also signs that nominal wage
costs are now starting to pick up. Goldilocks is in danger of burning her
tongue, and the Fed may come to regret that it did not raise interest rates
sooner. Despite the increases this summer, real interest rates still remain
lower than a year ago.

Reports of the death of inflation are therefore much exaggerated. Far from
being dead, inflation may have taken on a new, more dangerous guise.

*"The Costs and Benefits of Going from Low Inflation to Price Stability", by
Martin Feldstein. NBER working paper No 5469, 1997.

+ "The Macroeconomics of Low Inflation", by George Akerlof, William Dickens
and George Perry. Brookings Papers on Economic Activity 1, 1996.

? "Challenges for Monetary Policy: New and Old", by Mervyn King. Federal
Reserve Bank of Kansas City symposium, August 1999.

A note from David to fulfill my mission on name-dropping: Martin Feldstein
is another old boss.  George Akerlof is and Bill Dickens was a Berkeley
professor.  Feldstein is G.W. Bush's economic adviser, and would probably
be a President Bush's nominee for Secty of Treasury or to replace
Greenspan.  Akerlof is married to Janet Yellen.

David I. Levine                 Associate professor
Haas School of Business    ph: 510/642-1697
University of California    fax: 510/643-1420
Berkeley CA  94720-1900                            email:
levine@haas.berkeley.edu
http://web.haas.berkeley.edu/www/levine/


---------------------- Forwarded by Barbara Lewis/HOU/ECT on 12/11/2000 12:59
PM ---------------------------

Walter Tibbs <Walter.Tibbs@att.net> on 12/10/2000 10:24:28 PM
To: Barbara Lewis <Barbara.Lewis@enron.com>
cc:
Subject: Birthday Party

Good Morning,
The party was Great!!!
I thought you might want to use this one as a screen saver.

The disk that I left behind was a (8mb-3.3) Smart Media Disk for an Olympus
D-600L Digital Camera.
Thanks a lot for your help!

If you need to reply, please reply to??? wtibbs@uh.edu
are call me at 713-743-2645 . This is at work. Otherwise replying to this
address will not be answered till the following day.


Night shift:
Please purchase from El Paso the following at Palo:

HE 23 MST - 8 mw's
HE 24 MST - 11 mw's

Pay market price and send this energy to APS  at PV.    Explain to APS RT
that this is for line loss payback.

Show this in the EPE model as a sale to Enron at market price.   Footnote
that this is going to APS for line losses.

This has been cleared by Tony at EPE.    If you have any questions tonight,
call me on my cell phone.

Thanks!

JMF


All -

Please wrap up the phone interviews ASAP.

If you are having trouble getting a hold of anyone, please let me know so that I may try to reach them.

Please call me if you have any questions.

Thank you,

Adrianne
x57302


Don,
I wanted to see if you would be available one day next week for a meeting to
discuss TraderNews and Enron. Tuesday or Wednesday at anytime that works for
you is great.  I would like to come over and see your trading floor if you
don't mind.
I also have a meeting Downtown on this Thursday afternoon, if you have a
time for a few drinks at Ninfas let me know.

Regards,
Jeff Maack
713-647-8802