USA: BP plans to build U.S. LNG import terminals.
Reuters English News Service, 04/03/01

USA: CMS gets okay to expand Louisiana LNG terminal 40 pct.
Reuters English News Service, 04/03/01

USA: Enron unit, J.C. Penney sign $600 mln energy deal.
Reuters English News Service, 04/03/01

Enron Wins $600 Million J.C. Penney Energy Contract (Update2)
Bloomberg, 04/03/01

Enron, JC Penney in energy management deal; to buy 600 mln usd of commodities
AFX News, 04/03/01

Endesa, Enersis To Test Powerline Technology In Chile
Dow Jones International News, 04/03/01

Williams 1st-Qtr Profit to Beat Forecast on Trading (Update3)
Bloomberg, 04/03/01

Ariba's Failed Agile Purchase the Latest to Founder on Economy
Bloomberg, 04/03/01

USA: BP plans to build U.S. LNG import terminals.

04/03/2001
Reuters English News Service
(C) Reuters Limited 2001.

HOUSTON, April 3 (Reuters) - Oil giant BP Amoco Plc said on Tuesday it has
tentative plans to build up to three new import terminals for liquefied
natural gas (LNG) to help meet growing demand for natural gas in the United
States.
"We are looking at probably two or three opportunitiesto bring LNG into both
the East Coast and potentially the West Coast as well," Tony Fountain,
president of BP North America Gas & Power told reporters at a Ziff Energy
conference in Houston.
"The driver for us in LNG is the tremendous market opportunity in North
America, but we've obviously got great (natural gas) reserves and resources
around the world," he said.
Fountain said Mexico was among potential sites that BP was considering for an
LNG terminal to meet demand for natural gas on the U.S. West Coast. He
declined to give specific details on locations or timing, saying only that
BP's plans envisaged construction of the new terminals during the current
decade.
BP is already involved in LNG production in Trinidad and Fountain said the
company is currently exploring the possibility of producing LNG in Egypt and
other locations around the world.
Strong U.S. natural gas prices have led to renewed interest in LNG, with
companies such as El Paso Corp. and Enron Corp. drawing up plans for new
import terminals.
Until recently the high cost of cooling and transporting natural gas in
liquid form made investment in new import facilities uneconomical.
The U.S. currently has four LNG import terminals that were built more than 20
years ago. Two of them are currently receiving LNG cargoes and the other two
are scheduled to resume operations in the next one to three years.

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.

USA: CMS gets okay to expand Louisiana LNG terminal 40 pct.
By Spencer Swartz

04/03/2001
Reuters English News Service
(C) Reuters Limited 2001.

SAN FRANCISCO, April 3 (Reuters) - CMS Energy Corp. said Tuesday it has
received final approval from the federal government to boost its liquefied
natural gas (LNG) terminal capacity in Louisiana, already the largest in the
U.S., by over 40 percent.
Michigan-based CMS's decision to add 300 million cubic feet a day (mmcfd) of
gas capacity at its Lake Charles terminal, the largest of two U.S. LNG
terminals in operation, comes amid record high gas prices as traditional
sources of gas from places like Texas and the Gulf of Mexico cannot keep pace
with rising demand.
The decision by the Federal Energy Regulatory Commission (FERC) will allow
the company's Trunkline LNG unit to begin immediately making modifications at
its LNG terminal and to have the new capacity on line by June of this year,
the company said in a statement.
With FERC approval, CMS will expand the Lake Charles terminal from its
current send out capacity of 700 mmcfd to a peak capacity of 1 billion cubic
feet a day (bcfd), CMS said.
CMS also said it was evaluating whether to add another 200 to 300 mmcfd of
send out capacity at the LNG terminal, a company spokesman said.
The modifications to the CMS Trunkline LNG facility, which will not impact
current terminal operations, will eliminate bottlenecks in the regasification
process, the company said.
In 2000, there were 55 LNG tanker ships unloaded at the Lake Charles
terminal, and CMS said it expects the level LNG shipments to be higher in
2001.
NEW WEST COAST MARKET?
High prices for traditional gas supplies have lent further momentum to the
prospects for increased use of LNG, traditionally just about one percent of
overall U.S. gas use due largely to high transportation and liquefaction
costs.
LNG's costly liquefaction process involves super-cooling and injecting gas
into spherical high-pressure tanks for onshore storage or shipment on board
special LNG carriers.
Some analysts have estimated LNG could rise to around five percent of overall
gas use in the U.S. in the coming years, as well as attracting Asia-Pacific
LNG to the energy-starved West Coast.
U.S imports of LNG, mainly to New England, the largest consumer of gas,
usually have usually come from Algeria, Trinidad, Nigeria and Qatar in recent
years.
But as high gas prices on the U.S West Coast face vast gas resources in the
Asia Pacific region, the paradigm appears to be shifting.
In late March, Chevron Corp. said it was studying plans that could allow it
to start shipping LNG to the U.S. West Coast by 2005 if the project is
economically viable. Chevron said it would look at supplying the LNG from its
gas holdings in Australia.
El Paso Corp. also said in March it had tentatively agreed to begin
purchasing LNG in 2005 in hopes of shipping it to California or Mexico.
Under this plan, LNG would be purchased from a Phillips Petroleum Co. plant
near Darwin, Australia.
TERMINAL INTEREST
In January, energy giant Enron Corp. said it was looking into developing a
new LNG import terminal in the Bahamas, connected by a 90-mile (145 km)
pipeline to Florida.
This plan could begin commercial service by the end of 2004 if all regulatory
permits are approved.
Cabot LNG, a unit of Belgian-based energy services company Tractebel,
operates the other active U.S. LNG terminal at Everett, Mass., near Boston.
The company is in the process of more than doubling its vaporization capacity
from 435 mmcfd to more than 1 bcf by the end of this year.
The two other U.S. LNG import terminals, in Cove Point, Md., and Elba Island,
Ga., idled years ago for lack of demand, are expected to reopen in one to
three years, a move that would put all four of the country's LNG terminals
back to work for the first time since 1982.

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.

USA: Enron unit, J.C. Penney sign $600 mln energy deal.

04/03/2001
Reuters English News Service
(C) Reuters Limited 2001.

SAN FRANCISCO, April 3 (Reuters) - A unit of energy giant Enron Corp. and
J.C. Penney , one of the nation's largest retailers, on Tuesday said they
have signed a $600 million energy services deal in a bid to lower the
retailer's energy costs and firm up its profit margins.
Under the agreement, Enron Energy Services (EES) will manage and purchase the
supply of energy-related commodities, like electricity and natural gas, at
more than 1,250 J.C. Penney locations in all 50 U.S. states. EES will also
replace or update energy equipment to reduce consumption and create
additional savings for J.C. Penney, Enron said in a statement.
The deal comes a day after EES signed a long-term energy management agreement
for all of upscale retailer Saks Inc.'s facilities.
Under that agreement, EES will supply all of Saks' store locations, which
total over 300, its distribution facilities, and administrative offices with
electricity and natural gas.
Although no time frame was given for either the J.C. Penney or Saks deal,
Enron has said that contracts typically run between five and 10 years.
To date, EES manages energy at more than 28,500 customer sites.
A host of companies have recently farmed out their energy management to Enron
, including drug maker Eli Lilli and Co. , the North American arm of British
glassmaker Pilkington Plc , one of the world's largest glass and plastics
makers Owens-Illinois , and cereal and sports beverages maker Quaker Oats Co.
.

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.

Enron Wins $600 Million J.C. Penney Energy Contract (Update2)
2001-04-03 16:05 (New York)

Enron Wins $600 Million J.C. Penney Energy Contract (Update2)

     (Updates with closing share prices.)

     Houston, April 3 (Bloomberg) -- Enron Corp., a natural-gas
and electricity seller, won a $600 million contract to sell energy
to J.C. Penney Co., the No. 2 U.S. department-store chain.
     The ``long-term'' contract covers 1,075 J.C. Penney
stores and 175 offices in 50 U.S. states, J.C. Penney spokeswoman
Stephanie Brown said. The length of the contract wasn't disclosed,
though energy-service contracts often run five to 10 years, Brown
said.
     Enron will supply electricity and also plans to cut the
retailer's energy costs and consumption as part of the service
contract, an Enron statement said.
     J.C. Penney, based in Plano, Texas, also owns the Eckerd
drugstore chain. It has been shutting stores and cutting costs as
well as making changes to improve sales.
     Houston-based Enron, the world's biggest energy trader,
formed Enron Energy Services in 1996. The unit won $16.1 billion
in contracts last year and now supplies energy to 28,500 customer
sites.
     Shares of Enron fell $2.51 to $54.06. They've fallen
35 percent this year. Shares of J.C. Penney fell 40 cents to
$15.55. They've risen 43 percent this year.

--Jim Polson in New York, (609) 279-4106 or jpolson@bloomberg.net,
through the Princeton newsroom, 609) 279-4000/pjm

Enron, JC Penney in energy management deal; to buy 600 mln usd of commodities

04/03/2001
AFX News
(c) 2001 by AFP-Extel News Ltd

HOUSTON (AFX) - Enron Corp's Enron Energy Services and JC Penney Co Inc said
they entered a long-term energy management agreement covering the purchase of
over 600 mln usd in energy-related commodities.
In a joint-statement, the companies said that, through this agreement, Enron
will manage the supply of electricity at more than 1,250 JC Penney locations
in 50 states, as well as replace or update energy equipment to reduce
consumption and create additional savings for JC Penney.
David Delainey, chairman and chief executive of Enron Energy Services said:
"By outsourcing energy management to Enron, JCPenney is protected from
volatile energy prices while receiving the benefits of energy equipment
upgrades in its retail stores."
lj For more information and to contact AFX: www.afxnews.com and
www.afxpress.com

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.

Endesa, Enersis To Test Powerline Technology In Chile

04/03/2001
Dow Jones International News
(Copyright (c) 2001, Dow Jones & Company, Inc.)

SANTIAGO -(Dow Jones)- Chile's Enersis SA (ENI) will begin in Santiago, in
the third quarter, a large-scale test of powerline technology which would
transmit telecommunications signals across electricity lines, local paper El
Diario reported Tuesday.
Speaking at a shareholder's meeting, Enersis executive Rafael Miranda said
Spain's Endesa SA (ELE), which controls Enersis through a 65% stake, will
launch a parallel test in Palmas Mallorca.
However, Miranda added, all other telecom investments that aren't yet
generating revenues for the company are presently, temporarily paralyzed.
Enersis recently turned down an option to purchase 35% of the Chilean mobile
telecom unit owned by Spain's Endesa, called Smartcom PCS. In turn, Spain's
Endesa has said it intends to sell off its roughly EUR5.6 billion stake in
European telecoms holding company Auna.
Separately, Miranda said Enersis' investment plans for the electricity sector
are unchanged. Through 2005, the company will focus investment in Brazil,
where it plans to add 3,300 Megawatts of installed capacity and 1.1 million
new clients. Enersis will invest in Brazil about EUR2.7 billion of the total
EUR4.2 billion scheduled for the region.
Miranda added that Enersis will evaluate the possible purchase of Brazil's
Electrogen, which is now controlled by U.S. company Enron.
Enersis's chairman Alfredo Llorente said the company will seriously study the
possibility of building a transmission line between Argentina and Chile.
Electricity supply in Chile is expected to be tight throughout 2002 and into
2003.
Company Web site is http://www.enersis.cl
-Andrea Welsh, Dow Jones Newswires; 562-460-8547; chile@dowjones.com

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.

Williams 1st-Qtr Profit to Beat Forecast on Trading (Update3)
2001-04-03 16:20 (New York)

Williams 1st-Qtr Profit to Beat Forecast on Trading (Update3)

     (Updates with closing share price. For more on the California
electricity crisis, see {EXTRA <GO>}.)

     Tulsa, Oklahoma, April 3 (Bloomberg) -- Williams Cos., a
natural-gas pipeline company that's become one of the largest U.S.
energy traders, said first-quarter per-share profit will be above
previous estimates by 15 cents because of gains from energy
trading and gas exploration and production.
     Williams expects profit from continuing operations of
65 cents to 75 cents a share in the quarter, the company said in a
statement. It previously had forecast profit around 50 cents to
60 cents. The company also said it expects to earn $1.75 to $1.95
this year.
     The average gas price last quarter on the New York Mercantile
Exchange more than doubled from a year ago, and gas in California,
hit by a 10-month energy crisis, rose fivefold. Williams's
earnings in the fourth quarter almost quadrupled as trading profit
rose amid wide electricity- and gas-price swings in California and
elsewhere.
     ``If you had to look at just one driver, it's definitely that
marketing and trading activity,'' said Neil Dingman, an associate
analyst at Dain Rauscher Wessels. Though power-trading profit is
from around the country, the crisis in California has helped, he
said.
     The average power price in California rose ninefold last
quarter from a year ago, and prices ranged from $148.33 a megawatt-
hour to $516.67 a megawatt-hour, according to Bloomberg Energy
Service statistics. A megawatt-hour is enough to light 1,000 U.S.
homes for an hour.
     Shares of Tulsa, Oklahoma-based Williams fell $3.40 to
$40.15. They've fallen 8 percent in the past year.
     In the quarter, Williams was expected to earn 38 cents a
share, the average estimate of analysts polled by First
Call/Thomson Financial. The average analyst forecast for 2001 was
$1.44.

                              Spinoff

     With the spinoff of Williams Communications, the company will
report that unit's results as discontinued operations.
     Other energy traders have said recently they made more money
than expected last quarter because of gains in business in the
U.S. West.
     Houston-based Dynegy Inc. said yesterday that first-quarter
profit rose to about 40 cents a share from 26 cents a year
earlier. The company was expected to earn 31 cents, the average
estimate of analysts polled by First Call.
     Others with higher-than-expected profit include San Jose,
California-based Calpine Corp., an electricity generator and power-
plant developer; Spokane, Washington-based Avista Corp., owner of
utilities in the U.S. Northwest; and Atlanta-based Mirant Corp.,
the energy-trading arm of Southern Co.
     In January, Houston-based Enron Corp., the biggest energy
trader, raised its 2001 profit forecast, partly because of trading
in North America.

--Mark Johnson in Princeton, (609) 279-4017 or
mjohnson7@bloomberg.net, and Jim Kennett in Houston, through the
Princeton newsroom/pjm

Ariba's Failed Agile Purchase the Latest to Founder on Economy
2001-04-03 16:13 (New York)

Ariba's Failed Agile Purchase the Latest to Founder on Economy

     Mountain View, California, April 3 (Bloomberg) -- Before its
stock collapsed, Ariba Inc. agreed to pay $2.3 billion of shares
for Agile Software Corp. Three months later, the offer was worth
$117 million. Yesterday, the companies canceled their plan.
     The failed agreement between the two software companies was
the latest acquisition to founder amid the stock market rout.
The four largest transactions that collapsed this year had a
combined announced value of almost $40 billion.
     ``The issue is the enormous uncertainty about the economic
climate,'' Robert Cotter, U.S. head of Deutsche Bank AG's
investment banking unit. ``This climate of volatility makes it
difficult to close deals.''
     Abandoned purchases including FPL Group Inc.'s $15.8 billion
acquisition of Entergy Corp. mean the investment bankers advising
the companies may receive partial payment of fees that would have
run into the tens of millions of dollars. In some cases, the
bankers may only get expenses.
     Morgan Stanley Dean Witter & Co., Salomon Smith Barney,
Credit Suisse First Boston, Lehman Brothers Holdings Inc., J.P.
Morgan Chase & Co., Merrill Lynch & Co. and Thomas Weisel Partners
are among advisers coming up short because of recent failed
transactions.

                           Three in a Day

     Last month, three significant mergers fell apart in a single
day. In each case, executives blamed slumping shares or commodity
pricing issues.
     Enron Corp. Chief Executive Jeffrey Skilling said on March 23
that the largest energy trader's effort to sell Portland General
Electric Co. to Sierra Pacific Resources for $3.1 billion had only
a 5 percent chance of being completed.
     Skilling cited reasons related to turmoil in the California
electricity market, whose problems have driven the state's two
largest power companies close to bankruptcy. The Portland General
sale agreement was announced in November 1999, about a year before
California power problems became acute.
     On the same day, American Skiing Co., the largest U.S. ski
resorts owner and operator, called off plans, announced in
December, to buy hotel manager MeriStar Hotels & Resorts Inc. for
$230 million in stock and debt.
     The two companies cited economic and market conditions that
made it difficult for them to complete the transaction. American
Skiing shares had fallen 43 percent since the proposed takeover
was announced.

                            Software Slump

     The third purchase to fall apart on March 23 was Proxim
Inc.'s proposed takeover of Netopia Inc., an Internet-service
equipment provider, for $233 million.
     The two companies cited current market conditions in
announcing they would take separate paths. Shares of Proxim, a
maker of wireless computer networking equipment, had fallen 70
percent since the transaction was first announced.
     Endesa SA and Iberdrola SA, Spain's two biggest utilities, on
March 5 dropped their planned 14 billion-euro ($13 billion)
merger, one that would have created the world's largest utility by
customers after the Spanish government imposed conditions the
companies deemed unacceptable.
     Fallout from California helped break apart another utility
purchase on March 6, when Consolidated Edison sued Northeast
Utilities, New England's largest utility, to cancel its October
1999 agreement to buy Northeast for $7.7 billion in cash, stock
and assumed debt.

                          Power Contracts

     The suit cited the risk of fixed-price contracts for power
sales in 2002 and 2003. Northeast has countersued for $1 billion.
     Fixed retail prices in California and unregulated wholesale
prices have burdened PG&E Corp. and Edison International with $13
billion in debt.
     Northeast said Edison wanted to renegotiate the price because
of changes in value.
     In addition to market strains, proposed mergers have come
apart this year for reasons that can crop up when two different
organizations plan to fuse.
     In the largest abandoned transaction this year, FPL yesterday
canceled its purchase of Entergy after the two utilities' leaders
fought for dominance of the combined company, and FPL said Entergy
gave conflicting earnings forecasts.
     Entergy Chief Executive Wayne Leonard said James Broadhead,
FPL's chairman and chief executive, planned to renege on an
agreement to make Leonard the CEO of the new company, which would
have had more utility customers than any U.S. rival.

                        Strategies in Doubt

     Wide swings in power prices such as those experienced in
California also placed the companies' risk management strategies
in doubt, Entergy said.
     The merger of FPL, owner of Florida Power & Light, and
Entergy, owner of utilities in Louisiana, Texas, Mississippi and
Arkansas, would have created a utility company with 6.9 million
customers. The combined company would have had annual revenue of
more than $17 billion.
     By mutual agreement, the two companies agreed not to seek
$215 million in termination fees, provided neither agrees to a
purchase or takeover with a third company for nine months.
     On March 29, Tyson Foods Inc., the world's largest poultry
producer, broke off its $4.7 billion purchase of meatpacker IBP
Inc., after IBP corrected some financial statements and reported
fraud at an appetizer unit.
     IBP, the largest U.S. beef producer, filed suit the next day,
asking a Delaware judge to order Tyson to complete the
acquisition.

--George Stein in New York (212) 893-3934, (917) 545-9850,
ghstein@bloomberg.net/jk


I want to have a group mtg from 4:00-5:00 today to discuss some of the enron issues and then vol if we have a chance.


Steve,

It makes sense to meet with Abacus. Retail marketing is very data intensive.
If you set up a meeting with them,
please, let me know.

Vince

Steven R Meyers@EES
04/11/2000 08:17 AM
To: Timothy Edward Vail/HOU/EES@EES
cc: Vince J Kaminski/HOU/ECT@ECT
Subject: Resco Database and Customer Capture

Tim,

I hope things are going well in Resco.  I think somebody from Resco (or
Research) may be interested in the email I received below from Brad Davids.
Brad is now working at Abacus who works with residential customer patterns as
well as predictive modelling.  He's going to be here the 25 and 26 of this
month.  I'm not sure who is responsible for Resco Marketing, but I think they
would find this interesting.  Who should I send this to?   Please let me know
if anybody in Resco may have any interest.

Thanks,

Steve

PS:  Vince, simply an FYI since they do focus on modelling and research.

---------------------- Forwarded by Steven R Meyers/HOU/EES on 04/11/2000
08:14 AM ---------------------------

Bradley Davids <Brad.Davids@abacus-direct.com> on 04/10/2000 08:35:32 PM
To: "'Steven.R.Meyers@enron.com'" <Steven.R.Meyers@enron.com>
cc:
Subject: RE: Possible Meeting?

Steve:

I'll see if I can get in on the 25th . . . will let you know, but I think
it'll work.

Just to give you a very brief overview so you can think about who might be
interested, Abacus has the largest transactional database of consumer buying
behavior in the world (89 million US households, 3 billion+ purchases),
along with sophisticated modeling capabilities to help predict customer
response to various offers at the household level. Given the critical need
to reduce customer acquisition costs in retail energy markets, we believe
that our data and modeling can help energy retailers target their direct
marketing efforts toward the residential customers most likely to respond to
whatever the offer is--improving the efficiency of mailings and other
promotional campaigns (so there is an efficiency angle, see!)

Because our data allow the modeling of future buying behavior based on
actual purchases, our results tend to be significantly more predictive than
demographic-based models. So far, the the response from utilities and "new
entrants" I've been talking to so far has been quite positive, and we have
some tests of our data underway, but we're interested in talking to as many
players in the market as possible as we develop specific products to meet
utility needs.

I can provide more background if desired to whoever might be interested, but
I guess the key immediate question is whether it might be worthwhile to
arrange a short meeting sometime on the 25th of April with whoever at Enron
might have interest in hearing what we're up to, and (most importantly)
listening to what your data needs might be as you enter new markets.

Thanks very much for any help . . . I look forward to catching up and
hearing how things are going for you.

Regards,

Brad Davids
303-410-5531

-----Original Message-----
From: Steven.R.Meyers@enron.com [mailto:Steven.R.Meyers@enron.com]
Sent: Monday, April 10, 2000 12:13 PM
To: Brad.Davids@abacus-direct.com
Subject: Re: Possible Meeting?

It'd be great to meet on the 25th in the afternoon.  I have a flight in the
evening.  I'm interested in hearing about life at abacus.  I too have heard
that Enron is getting back into the residential market.  What type of
database do you have?  I might be able to find somebody for you to talk
with here.

-Steve

Bradley Davids <Brad.Davids@abacus-direct.com> on 04/10/2000 12:04:00 PM

To:   "Steve Meyers (E-mail)" <smeyers2@enron.com>
cc:
Subject:  Possible Meeting?

Steve:

Sorry we've been unable to hook up . . . I can probably get down there on
the 25th, if you're going to be in town that afternoon? Would love to catch
up--both on how things are going with EES and tell you about my new life.

Also, I'm hearing rumors that Enron is about to get back into the
residential market in a big way--you know anything about that? Anybody I
should talk to there about my huge database of consumer buying behavior?

Thanks--looking forward to connecting . . . I'll be travelling most of this
week, but you can leave a VM and let me know when I can call you, or try me
on the cell at 303-886-3458.

Best,

Brad Davids

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

Bradley J. Davids
Associate Vice President, Utilities

Abacus Direct, a division of DoubleClick, Inc.
11101 West 120th Avenue
Broomfield, CO  80021  USA

e-mail    brad.davids@abacus-direct.com
tel       303.410.5531
fax       303.410.5300

www.doubleclick.net
www.abacus-direct.com

(See attached file: C.DTF)


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Top Stories (January 10)

CALIFORNIA GOVERNOR SAYS PROGRESS WAS MADE IN CALIFORNIA POWER TALKS
After meeting behind closed doors for seven hours, government officials said
progress was made during a White House-brokered meeting to identify solutions
for California's troubled electricity market.
http://199.97.97.79/IMDS%PMADJN0%read%/home/content/users/imds/feeds/djn/2001/
01/10/eng-djn/eng-djn_112027_38_9608982484788

PG&E SAYS ITS CURRENTLY UNABLE TO BORROW MORE MONEY
PG&E Corp.'s (PCG) Pacific Gas & Electric Co. said the disparity between
wholesale power prices and the current utility rates has made further
borrowing impossible, according to a Form 8-K filed Wednesday with the
Securities and Exchange Commission.
http://199.97.97.79/IMDS%PMADJN0%read%/home/content/users/imds/feeds/djn/2001/
01/10/eng-djn/eng-djn_160035_224_442865708843

JUSTICE DEPARTMENT OK'S ARKANSAS ELECTRIC COOPERATIVE RETAIL JOINT VENTURE
The Arkansas Electric Cooperative Corp., has obtained Justice Department
approval to jointly market electric power to retail customers when Arkansas
moves to deregulate its electric market.
http://199.97.97.79/IMDS%PMADJN0%read%/home/content/users/imds/feeds/djn/2001/
01/10/eng-djn/eng-djn_184026_22_6107542845421

MASSACHUSETTS ATTORNEY GENERAL WANTS ELECTRIC TRANSMISSION CAPACITY ADDED
Massachusetts Attorney General Thomas F. Reilly yesterday urged electric grid
managers to step up efforts to add new transmission capacity in the state and
region to help curb soaring electric costs.
http://199.97.97.163/IMDS%PMAKRT0%read%/home/content/users/imds/feeds/knightri
dder/2001/01/10/krtbn/0000-0176-GL-ELECTRIC

-IS NUCLEAR ENERGY ON THE VERGE OF A RESURGENCE? - ISSUEALERT FOR JANUARY 10,
2001
According to the Nuclear Energy Institute, for the first time in more than a
decade, production costs (outlays for fuel and operations and maintenance) at
U.S. nuclear plants are the lowest of any major reliable electricity source,
dropping below coal-fired power plants.
http://199.97.97.163/IMDS%PMANAT0%read%/home/content/users/imds/feeds/writersd
esk/2001/01/10/eng-powerm-000001/eng-powerm-000001_125702_201_045852864627

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DOW JONES NEWSWIRES
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FERC Approves Governance Issues Of 'GridFlorida' RTO Plan

PG&E Corp Dividends -2: Cites Wholesale Power Crisis

PG&E Corp Dividends -4: To Postpone 4Q Fincl Results

PG&E Corp Dividends -3:Operating In 'Liquidity Crisis'

PG&E Corp Postpones Release Of 4Q Results >PCG

PG&E Corp Won't Pay 30c Dividend For 4Q >PCG

PG&E Corp Suspends Charitable Contributions >PCG

PG&E Corp Defers Annual Merit Salary Raises >PCG

PG&E Corp's Pacific Gas Unit Won't Pay Qtr Div >PCG

M. Stanley's Berner: U.S. Econ Problems Hit Calif Hardest

FERC's Hoecker/Calif Pwr -2: 'Substantial Progress' Seen

FERC's Hoecker: White House Calif Pwr Summit 'First Step'

Justice Dept. OKs Ark Elec Coop Retail Joint Venture

CORRECTION: Kent Funds Spokesman Is Mitchell Stapley

Calif Legislator:Vote Thu On Retaining Utils Generation

PG&E Bonds -2: Bids On 10-Yr Notes In Mid-60's

Calif Util Shrs Dn -4: PG&E Has $500M In Reserves Wed.

PG&E Bonds Tread Water After Utility Warns Of Bankruptcy

PG&E/Filing -3: Has Cash Reserves Of $500M >PCG

PG&E/Filing -2: Rate Increase Not Enough To Pay Bills

PG&E: Under-Collected Balance Of $6.6B As Of Dec. 31

Calif Util Shrs Dn -2: Edison Intl, PG&E Shrs Up Earlier

PG&E Outlines Financial Condition In SEC Filing >PCG

Calif. Util Shrs Dn After PG&E Outlines Fincl Condition

PG&E:Foreclosed From Capital Mkts Due To Fincl Condition

PG&E: Faces Default; May Be Forced Into Bankruptcy >PCG

Brazil's Cesp Climbs On Expectations Of New Output Record

PG&E Says Its Currently Unable To Borrow More Money

PacifiCorp/FPL Group -2: Plant To Svc 70,000 Houses >FPL

Southern Co. Forms Unit -2: Names McCrary Unit Pres >SO

SEC Clears Southern Co. To Form New Unit >SO

Bewag Strives For Equal Owership Control Of Veag -Sources

Calif Gov Says Progress Was Made In Calif Power Talks

FPL To Build, Own Plant; PacifiCorp To Buy, Sell Output

PacifiCorp, FPL Group To Build Wind Energy Plant >FPL

PacifiCorp, FPL To Build Plant On Ore./Wash. Border >FPL

Delays/N Korea/GE -2: No New Date For Proj Completion

Delays Mount In N Korea Nuclear Proj After GE Ends Talks

Enron India Expects State Pwr Board To Meet Debt Payments

Enron India/Pwr Board/Payments -2: Doubts Over Phase 2

PRESS RELEASE: Cal-ISO Declares Stage 2 Emergency

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Bode to Advise Bush on Energy Concerns

Once-Largest Solar Power Farm in World Becomes Observatory Set for
Unprecedented Detection of Gamma Rays

League of Women Voters of California President Issues Open Letter to
Governor, Cpuc on Proposed Electric Rate Increases

Study Details Impact of Pollution on Public Health from Nine Older Fossil
Fuel Power Plants in Illinois

Wind Farm to Power 70,000 Homes

California ISO Calls for Energy Conservation; Morning Hours between 5- A.M.
Are Critical

Campus power plant to save U. Mississippi $1 million a year-(U. Mississippi)

Electrical Emergency Steps Up to Stage Two; Interruptible Load Programs
Activated

Peoples Energy Gives $500,000 to Share the Warmth

Company Supports Realistic Solutions to California Power Crisis; Reliant
Energy Sees Dialogue at Washington Summit As A 'First Step'

Energy Update/Los Angeles Department of Water And Power Daily Energy Update
for Wednesday, Jan. 10, 2001

Oregon-Wash. Border Gets Wind Farm

Pinnacle West Energy Awaiting Approval on Acquisition of Nuclear Assets,
Focusing on New Generation Projects

Clean Energy Critical in New Millennium: U.N. Senior Official

NY Natural Gas Review: Tumbles As Aga Draw at Low End of Views

Boxer, Feinstein Aim to Help Feds Aid Resolution of Power Crisis

Tentative Schedule Set for PG&E, Edison Power Rate Case

Top Energy Summaries - Wednesday, January 10, 2001 - 4:4 PM

Columbia Gas of Ohio to Distribute Energy Conservation Kits

Honeywell Shareowners Approve Proposed Merger with General Electric

PG&E Corporation And Pacific Gas And Electric Company to Suspend Dividend
Payments

Teledyne Technologies to Deliver Hydrogen Supply System for Fuel Cell Powered
Buses

Energy Over the Years

Sustainable Energy to Provide Proton Energy Systems with Power Conditioning
Units

Cytec Initiates Natural Gas Surcharge on Melamine Crystal

Pacific Gas & Electric says faces risk of default: SEC filing

PetroQuest Energy Voluntarily Delists From the Toronto

Top Energy Summaries - Wednesday, January 10, 2001 - 2:36 PM

Repeats: Energy Volume And Open Interest Totals-Jan 10

Ubs Warburg Upgrades Noble Affiliates, Ocean Energy (Nbl)

Florida Power Says Cold Weather Conditions to Drive Up Winter Utility Bills

Almost Unnoticed Among the Region's Raging Electric Crisis, South King
County's Natural Gas Bills Will Jump Another 26 Percent This Week, the Third
Increase in the Last 14 Months. - The Result: Customers Who Use Natural Gas
to Heat Their Homes Or Cook Their Dinners Will See Their Costs Nearly Double

-Is Nuclear Energy on the Verge of a Resurgence? - IssueAlert for January 10,
2001

Mariner Energy Names Thomas E. Young Vice President - Business Development

-David Rich Joins Retx As Vice President Of Sales

Universal Stainless & Alloy Products, Inc. Announces Natural Gas Surcharge

GE Power Systems wins 460 mln usd gas, steam turbines order from TECO Energy

TVA Prices $1 Billion 10-Year Global Power Bonds

-EREN NETWORK NEWS -- January 10, 2001

Uni-Solar(R) Triple-Junction Technology Honored with The Bright Light Award
from The U.S. Department of Energy
Analyst: Nation Near Energy Crisis

GE to Provide Turbines, Long-Term Services for Two New Power Plants in
Southeastern U.S.

Energy Sector Has Some Gas Left in the Tank

Resource Shortfall Triggers Stage One Emergency; California ISO Requests
Consumers to Immediately Cut Back on Energy Usage

Energy Channel Buildings.com Presents: Bottom Line Energy Issues

N.M. Utility Pushes Power-Line Plan

Wps Energy Is Selected As the Lowest-Cost Provider for Northern Maine

Cbi Announces the Industry's Most Comprehensive Business to Business Energy
Conference Series

Electrons without Borders: California Can't Make Itself an Energy Island

-DOMINION INCREASES 2001 EARNINGS TARGET BY 30 CENTS PER SHARE

Green Mountain Power Corporation of Vermont Files SEC Form k

Potomac Electric Power Company of Virginia Files SEC Form k

Potomac Electric Power Company of District of Columbia Files SEC Form k

-EPRI Reliability Initiative Provides Tools to Help Utilities Avoid Power
Outages

Thermal Energy Storage Helps Cut Energy Bills

-CBOT to Launch 5-Year Agency Note Futures and Options Jan. 12

Top Energy Summaries - Wednesday, January 10, 2001 - :14 Am

Davis Pledges Power Contract Reforms

Green Mountain Energy to Flip Switch on Connecticut Business

Gateway Energy Corporation Announces Increased Tariff Rates for Its
Distribution Subsidiary

Top Energy Summaries - Wednesday, January 10, 2001 - 7:42 Am

Calif. Crisis Threatens to Spread Utility Deregulation, Energy Shortage Send
Shock Waves Clear to Washington

New Electrical Device Can Extend Energy Supplies, Cut Business And Consumer
Power Bills

World's Largest Wind Plant to Energize the West; Pacificorp Will Sell Power;
Fpl Energy Will Build, Own And Operate

E Source Asks: Will Undoing Deregulation Undo the Energy Distribution Company?

Energy Companies Prepare for Uncertain Future As A New Year's Chill Hits
Restructuring Efforts

STOCKWATCH: ENEL lower on concern on Wind, Infostrada merger, govt stake sale

Icc to Hold Natural Gas Price Hearings

ENEL has to transfer ownership of national grid - energy regulator

Protection from Energy Market Manipulation

Power generators kicked into high gear

Richardson, Governor Davis claim progress in Califronia energy crisis talks

AG Eyes Calif. Power Debacle

Chubu Elec. to Be 1st Power Firm to Enter Retail Gas Market

Ohio Power Agency Sells $52 MillionOf Bonds to Boost Peaking Capacity

Davis Offers No Short-Term Fix To California Energy Crisis

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I N T E R N A T I O N A L
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National Energy Board to Hold Public Hearing on Application for Proposed
Chinchaga Sales Gas Pipeline Loop

CanArgo Energy Corporation: President Shevardnadze Visits

Alstom wins contract worth over 440 mln eur for Saudi power plant expansion

E.ON lifts holding in Swedish utility Sydkraft, aims for majority

Indian Government: Shri Prabhu Discusses Power Reforms with Visiting British
Delegation

Indian Government: N.T.P.C. to Look Into Feasibility of Setting Up Power
Plant in Maharashtra

Cambridge Energy Corp. Announces Acquisition of Its Donner Field in
Southeastern Louisiana

India: Mangalore LNG Power Station Project Shelved

Tractebel eyes expansion in Poland, bidding for new power generator

CBK Power to draw first tranche of 340 mln usd loan for hydropower project

Muslim rebels attack power plant, army unit in southern Philippines

Philippines National Power Corp May Supply Zamboanga Freeport

E.On Power Unit Targets Poland in Expansion Plan

----------------------------------------------------------------------
KRT DAILY ENERGY NEWS
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Connecticut Attorney General's Suit Forces Utility Regulators to Hire Lawyer

Oklahoma-Based Williams Cos. Plans to Sell 30 Million Shares of Stock

Energy Company Begins Job Cuts in Florida

Peoples Gas Undercharged Customers in Fall, Illinois Regulators Told

Ruling Could Hand California Consumers $12 Billion Bill for Utilities' Costs

California Governor Offers Measures to Address Electric Deregulation `Failure'

Analysis: California Governor Offers Few Specifics on Fix for Electric Crisis

Seattle Power Company Proposes An Increase in Electric Rates

California Governor Urges Greater State Role to End 'Energy Nightmare'

Washington, Oregon Governors Urge Residents to Reduce Power Usage

The Philadelphia Inquirer Andrew Cassel Column

New Heating Assistance Program Draws Support in Illinois

Western Kentucky Gas Says It Will Work with Delinquent Customers

Electricity, Natural Gas Bills in Utah to Increase

The Orange County Register, Calif., Jonathan Lansner Column

Reaction Split on California Governor's Response to Energy Crisis

California Struggles to Deal with Energy Crisis

California Governor Calls Electric-Industry Deregulation a `Failure'

Portable Heaters a Rare Commodity in High Point, N.C.

Massachusetts Attorney General Wants Electric Transmission Capacity Added

Hyundai's Eugene, Ore., Chip Factory Pays 70 Percent More for Electricity

Energy Conservation Low in Public Consciousness for Oregon Residents

Dayton, Ohio-Area Officials Will Meet on Electric Deregulation

Colorado Regulators Consider Xcel Energy's Request for Increase in Gas Rate

California's Woes Put North Carolina's Electric-Deregulation Plans on Hold

California Governor's Energy Proposals Face Criticism from All Sides

California Governor Backs Public Power Agency, Incentives to Fix Energy Woes

----------------------------------------------------------------------
REUTERS
----------------------------------------------------------------------
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Canada natgas mixed, Alberta down in pipe constraints

UPDATE 1-FERC chief says Calif power crisis goes beyond state

Dominion raises earnings estimates for 2001, 2002

Canadian bonds end down, outperform U.S. treasuries

FPL, PacifiCorp plan 300 MW Wash./Ore. wind farm

WRAPUP 2-Pacific Gas & Electric pleads for help

Lattice picks Nortel for telecoms deal

Southern sets up Southeast wholesale power unit

Turkish PM sees ``secret'' powers behind energy probe

Kaiser adds energy surcharge to fabricated products

Moody's says no change in PG&E ratings after request

FACTBOX-Key issues on table in Calif. power crisis talks

Pinnacle West says will not buy Edison's share of Four Corners

Justice Dept allows joint power marketing in rural Arkansas

Canada natgas mixed, Alberta down in pipe constraints

New York City seen facing tight summer power supplies

U.S. FERC chairman says to leave agency Jan. 18

UPDATE 3-PG&E cuts dividend to preserve cash, seeks state aid

UPDATE 1-Spain power merger seen narrowly approved by court

GE Power to supply turbines, services for $460 million

PG&E asks Calif. governor to use emergency powers

Richardson says pushing for West region power price cap

UPDATE 3-Clinton administration meets on Calif power crisis

Framework offered to resolve Calif. power crisis

PG&E Corp halts fourth quarter dividend, delays results

Germany's MVV takes stake in U.S. solar tech firm

UPDATE 1-California power talks end with 'progress'

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Holnam has just terminated their contract and Luzenac terminated earlier this month.  Starting Feb.1, we should be delivering to Ash Grove Cement and LP.  We are currently delivering to LP, and Ash grove suspended for the entire month of Jan.

Let me know if you have any questions.  Thanks.

Andrea Woodland
Enron North America - West Desk
503 464-3700  (desk)
503 880-4547  (cell)


A little light reading.  Another will follow.
---------------------- Forwarded by Kay Mann/Corp/Enron on 06/13/2000 09:08
AM ---------------------------

"Boyd J. Springer" <Boyd_J._Springer@jonesday.com> on 06/12/2000 07:23:44 PM
To: dtucker@bracepatt.com, cdade@bracepatt.com, Kay.Mann@enron.com
cc:

Subject: Agency Agreement

_______________________________________________________________

This message and any attachments are intended for the individual or entity
named above.  If you are not the intended recipient, please do not read,
copy, use or disclose this communication to others; also please notify the
sender by replying to this message, and then delete it from your system.
Thank you.
_______________________________________________________________

Here are my comments re Peoples' mark-up:
                                         1. Sects. 1.1, 1.11, 10.2, and
15.1(f). The combined effect of the proposed changes to these sections is
to significantly broaden the terminantion right in the event that
governmental action related to the agreement is modified in a manner
unacceptable to either party. As changed the unacceptable approval can come
at any time during the term of the agreement, and need not  involve
approval  "required" for the agreement to remain effective. Peoples did not
propose to include language from the comparable NIGAS Hub Agreement which
refers to adverse "rate approval". However, Peoples' intent may be to
obtain a termination remedy in the event of an adverse rate-making decision
re the treatment of Hub revenues. In any event, the meaning of a
termination right triggered if a government approval (not necessarily
required for the agreement to remain in effect) is modified "in any manner
which is unacceptable" is, at best, unclear. We should try to stay with the
original language (or, perhaps, limit expansion of the termination right to
circumstances when a "required" approval is revoked.) While the broadened
termination right proposed by Peoples is available to either party, I
wouldn't think it likely that MEH would wish to terminate as a result of a
modified regualtory decision not required for continuation of the agency
arrangement.
2. Sects. 1.6, 7.1. 2.2, 2.10 (comments re cumulative net revenue
definition) As modified, MEH is charged with the duty to market Hub
Serivces, which includes Extended Hub Serivces (Def'n. 1.17). However, the
proposed Adminisatrative Service Fee (7.1) is only payable during the term
of the Agreement. MEH, therefore, is required by the Agreement to market
extended Hub Services, but receives no compensation (after termination of
the Agreement) for doing so. Also, Peoples proposes to add provision (C)
eliminating refund amounts from the definition of Cumulative Net Revenue.
Apparently in conjuction with this, Peoples proposes to delete the last
sentence of 1.6 which requires a retroactive adjustment of cumulative net
revenue in the event of a refund. Peoples also has bracketed 7.3,
apparently intending to exclude it. I suppose this is fine from MEH's
perspective. The effect of these changes is to deduct only amounts actually
refunded from the revenue base for the administrative fee, and not require
a retroactive adjustment. This could benefit MEH if the agreement
terminates before a refund is required. No retroactive adjustment would be
needed.
3. Sect. 1.9, 2.5. Peoples proposes to delete the requirement that it make
nominating or scheduling changes on interstate pipelines for receipt or
delivery of gas needed for hub transactions or delivery of gas at a
secondary point for displacement delivery. Northern Illinois Gas Co. did
agree to these provision in the contract with its Hub Agent. I do not know
the value of these commitments to MEH from a business standpoint.
                         4. Sect. 1.13. Peoples proposes that the GTC be
defined to included changes made by Peoples in its sole discretion.
Peoples, however, is not free to change the GTC as it sees fit. FERC may
elect to allow changes proposed by Peoples to become effective, but Peoples
can, at most, "propose" changes in its sole discretion. How about: "the
effective general Terms and Conditions of the Operating Statament as may be
modified from time to time." Sect. 6.1 gives Peoples a right to propose
changes to the GTC, so there is no need to cover that here.
                              5. Sect. 1.17. The GTC does not indicate that
Parking and Loaning Service must be interruptible. I will review this
further.                      6. Sect. 2.2. Peoples has modified the
language giving it responsibility to ensure compliance with the GTC to
assign this obligation to both parties. The intent was to comply with
requirements of FERC orders indicating that an agent need not be
certificated as a "natural gas company", if there is another entity with
clear responponsibilty to ensure compliance with the Natural Gas Act and
FERC regulations. I suggest we stay with the origianl language indicating
that Peoples, the certificate holder, has the responsibility to ensure
compliance with regulatory requirements.
          7. Sect. 2.4b The thrid sentence is confusing in light of the
sending sentence indicating that MEH must consent to a change in
information re firm capacity. Perhaps "in its sole discretion" can be
delted and the last word of the third sentence changed to "appropriate".
                              8. Sect. 2.5. New Item 3 of the list of
grounds for refusal should be deleted. The GTC (Sect. 8.2) specifies the
grounds on which Hub Serivce can be denied. The Agency Agreement should not
add to this. Also, the GTC expressly requires that firm serivce provided
under the Operating Statement and firm serivce under peoples' Illiniois
tariffs have equal scheduling priority.
                                   9. Sect. 2.10. This Section places the
risk of non-payment on MEH, unless Peoples conducts the credit check. This
is how risk was allocated in the NIGAS Hub Agreement. That agreement,
however, provided for a 50/50 split of Hub revenue. As proposed by Peoples,
MEH would receive only an agency fee and lesser percentage of revenue. With
the changed allocation of revenue, a changed allocation of non-payment risk
also may be appropriate. Normally, the this risk should follow
responsibility for accepting the transaction. At a minimum, non-payment
risk should be assigned to Peoples if (i) it performs the credit check; or
(ii) requires MEH to accept a Hub customer which MEH has rejected based on
a credit analysis conducted under the GTC (Sect. 8.2).
     10. Sect. 3.3. The required refunds could be large relative to the
administrative fee. The revised language requires MEH to finance refunds
for ten business days. Should there be an interest component?
                                                        11. Sect. 3.4. This
Section suggests that MEH will receive a fee for Extended Hub Services. I'm
don't see how this occurs under the revised language.   12. Sect. 3.5.
Peoples proposes to delete the language requiring best efforts to minimize
imbalances. Compliance filings due this summer under FERC Order 637 are
expected to offer incentives related to avoidance of imbalances and Peoples
should attempt to use these procedures. We should discuss this with them on
Wed.
                    13. Sect. 5.1. Peoples has modified the warranties to
indicate consistency of the Agency Agreement with "material" contractcs and
Judgments or Laws not expected to have a material adverse effect. Is it
suffucuent to have minor contract violations and inconsistency with some
Laws/Judgments?               14. Sect. 7.1 The NIGAS Hub Agreement did not
have a flat fee component.
15. Sect. 10.1. Because the Governmental Approval must be acceptable to
both Peoples and MEH, People should not have "sole" authority to prepare
and file all applications.
                                         16. Sect. 10.2. See comments above
re Governmental Approval. Also, I don't think there is a need for the word
"expressly" in the first sentence.            17. Sect. 11.1. Should the
Section require consent for transfer by operation of law if we wish to have
this requirement in the event that the Hub facilities are sold?

          18. Sect. 15.1 (a). If this type of provision is going to be
included, should there at least be an initial period (say a year) to get
started which doesn't trigger a termination right? The NIGAS Agreement had
a section along these lines.
          19. Sect. 15.1 (f). See comments above re Governmental Approval.
                                                   20. Former 15.1 (f) now
deleted. This provided that the Agency Agreement could be terminated is MEH
is dissolved. This seems necessary to me.          21. 15.1 (g) Peoples
wishes to have sole discretion to change its Facilities or the GTC, but
proposes to limit MEH's termination right in the event that such a change
impairs the HUB's marketability. It seems reasonably to allow MEH to
terminate if it believes that HUB marketability is impaired, without a need
to demonstrate reasonableness.
                                         22. Sect. 17.1 I don't understand
why Peoples wishes to require confidentiality for the compensation
sections. The Illinois Commission Staff and interested parties would have
access to this information under a protective agreement. This would
unnecessarily complicate the approval process and I don't know what there
is to gain from secrecy. These provisions were part of the public record in
the NIGAS approval case.                                     That's all.
Let's discuss tomorrow.


Attached to this e-mail are NRU's data responses to DS-NI-001, DS-NI-002 and
DS-NI-003.

-----Original Message-----
From: Westenberg, Sarah A - LP-7 <sawestenberg@bpa.gov>
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<crow@millernash.com>; 'michaelearly@earthlink.net'
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<mhain@ect.enron.com>; 'darcy@tonkon.com' <darcy@tonkon.com>;
'jhartso@enron.com' <jhartso@enron.com>; 'john.yanov@eweb.eugene.or.us'
<john.yanov@eweb.eugene.or.us>; 'tgrim@chbh.com' <tgrim@chbh.com>;
'townsend@chbh.com' <townsend@chbh.com>; 'jolynnr@mresearch.com'
<jolynnr@mresearch.com>; 'aw_turner@pgn.com' <aw_turner@pgn.com>;
'lyn_williams@pgn.com' <lyn_williams@pgn.com>; 'rfoiani@gcpud.org'
<rfoiani@gcpud.org>; 'kknitte@gcpud.org' <kknitte@gcpud.org>;
'jdeason@chbh.com' <jdeason@chbh.com>; 'rle@givenspursley.com'
<rle@givenspursley.com>; 'pspi@dynegy.com' <pspi@dynegy.com>;
'DBouchard@ci.forest-grove.or.us' <DBouchard@ci.forest-grove.or.us>;
'ias@dvclaw.com' <ias@dvclaw.com>; 'lwolv@worldaccessnet.com'
<lwolv@worldaccessnet.com>; 'pnichols@idahopower.com'
<pnichols@idahopower.com>; 'pobenchain@idahopower.com'
<pobenchain@idahopower.com>; 'elisaCKF@aol.com' <elisaCKF@aol.com>;
'johncameron@dwt.com' <johncameron@dwt.com>; 'tracigrundon@dwt.com'
<tracigrundon@dwt.com>; 'dparrish@prmllp.com' <dparrish@prmllp.com>;
'JLH@mc-power.com' <JLH@mc-power.com>; 'mthomas@mtpower.com'
<mthomas@mtpower.com>; 'mstauffer@mtpower.com' <mstauffer@mtpower.com>;
'lawyer@teleport.com' <lawyer@teleport.com>; 'steve@nwenergy.org'
<steve@nwenergy.org>; 'bpadiscovery@merkellaw.com'
<bpadiscovery@merkellaw.com>; 'jsaven@pacifier.com' <jsaven@pacifier.com>;
'janet.prewitt@state.or.us' <janet.prewitt@state.or.us>;
'marc.hellman@state.or.us' <marc.hellman@state.or.us>;
'Eric.Larson@oremetwahchang.com' <Eric.Larson@oremetwahchang.com>;
'efinklea@energyadvocates.com' <efinklea@energyadvocates.com>;
'pljacklin@stoel.com' <pljacklin@stoel.com>; 'scott.brattebo@pacificorp.com'
<scott.brattebo@pacificorp.com>; 'dbkinnard@pplmt.com'
<dbkinnard@pplmt.com>; 'dmacgregor@morganlewis.com'
<dmacgregor@morganlewis.com>; 'erick_johnson@pngc.com'
<erick_johnson@pngc.com>; 'doug_brawley@pngc.com' <doug_brawley@pngc.com>;
'darkills@popud.com' <darkills@popud.com>; 'marss@perkinscoie.com'
<marss@perkinscoie.com>; 'dfaulk@puget.com' <dfaulk@puget.com>;
'stephens@eslerstephens.com' <stephens@eslerstephens.com>; 'rachel@rnp.org'
<rachel@rnp.org>; 'jacksonc@ida.net' <jacksonc@ida.net>;
'kevin.clark@ci.seattle.wa.us' <kevin.clark@ci.seattle.wa.us>;
'ali.rodol@ci.seattle.wa.us' <ali.rodol@ci.seattle.wa.us>;
'EnerGlaw@aol.com' <EnerGlaw@aol.com>; 'BASSL@sce.com' <BASSL@sce.com>;
'jeffn@subutil.com' <jeffn@subutil.com>; 'mershanlaw@aol.com'
<mershanlaw@aol.com>; 'pvickery@tpud.org' <pvickery@tpud.org>;
'skaravit@ci.tacoma.wa.us' <skaravit@ci.tacoma.wa.us>;
'mmetzler@ci.tacoma.wa.us' <mmetzler@ci.tacoma.wa.us>; 'jrb_ora@televar.com'
<jrb_ora@televar.com>; 'dan.meek@usa.net' <dan.meek@usa.net>;
'kevinbell@cvresearch.com' <kevinbell@cvresearch.com>;
'terrym@millcreeklaw.com' <terrym@millcreeklaw.com>;
'huse@eesconsulting.com' <huse@eesconsulting.com>; 'simonf@atg.wa.gov'
<simonf@atg.wa.gov>; 'matts1@atg.wa.gov' <matts1@atg.wa.gov>;
'wmgt3@montana.com' <wmgt3@montana.com>; 'ccopatrny@e-z.net'
<ccopatrny@e-z.net>; 'abuckley@wutc.wa.gov' <abuckley@wutc.wa.gov>;
'sjohnsto@wutc.wa.gov' <sjohnsto@wutc.wa.gov>; 'rdb@keywaycorp.com'
<rdb@keywaycorp.com>; 'ratecase@pngc.com' <ratecase@pngc.com>;
'rates@ppcpdx.org' <rates@ppcpdx.org>; 'Paul@KinergyLLC.com'
<Paul@KinergyLLC.com>; 'mschaff@worldnet.att.net'
<mschaff@worldnet.att.net>; 'dldorrell@stoel.com' <dldorrell@stoel.com>;
'doney@doneylaw.com' <doney@doneylaw.com>; 'archive-power-ratecase@bpa.gov'
<archive-power-ratecase@bpa.gov>; 'discoveryparalegal@bpa.gov'
<discoveryparalegal@bpa.gov>; 'kyle@ppcpdx.org' <kyle@ppcpdx.org>;
'kpom@mail.pacifier.com' <kpom@mail.pacifier.com>; 'weavertr@yakima-wa.com'
<weavertr@yakima-wa.com>; 'eboyd@ppcpdx.org' <eboyd@ppcpdx.org>;
'peter@richardsonandoleary.com' <peter@richardsonandoleary.com>;
'rhcross@snowpud.com' <rhcross@snowpud.com>; 'joel@merkellaw.com'
<joel@merkellaw.com>; 'ghcarr@pacifier.com' <ghcarr@pacifier.com>
Cc: Burger, Peter J - LP-7 <pjburger@bpa.gov>; Wright, Jon D - LP-7
<jdwright@bpa.gov>; Casad, Kurt R - LP-7 <krcasad@bpa.gov>; Foulkes,
Gabrielle - PGF-6 <gffoulkes@bpa.gov>
Date: Monday, March 19, 2001 2:00 PM
Subject: The WP-02 Discovery Web page is experiencing problems

>> Due to server problems that began late on Friday, March 16, 2001 the
>> discovery web page may not have sent requests/responses to all rate case
>> parties.  Technicians are working to correct the problem, but in the
>> meantime parties need to send requests/responses via attachments to
email.
>> The discovery web page sends to a slightly different address list, so I
>> have provided that below.  If you have any questions, please feel free to
>> contact me by either email or by phone.  My direct number is
503-230-4753.
>> - Sarah
>>
>>
>> abuckley@wutc.wa.gov alan@epud.org ali.rodol@ci.seattle.wa.us
>> archive-power-ratecase@bpa.gov aw_turner@pgn.com BASSL@sce.com
>> bessex@cowlitzpud.org bferranti@mbllp.com bpadiscovery@merkellaw.com
>> ccopatrny@e-z.net crow@millernash.com cub@teleport.com cwagers@dcpud.org
>> dan.meek@usa.net darcy@tonkon.com darkills@popud.com dbkinnard@pplmt.com
>> dfaulk@puget.com discoveryparalegal@bpa.gov dldorrell@stoel.com
>> dmacgregor@morganlewis.com doney@doneylaw.com doug_brawley@pngc.com
>> dparrish@prmllp.com dws@keywaycorp.com eauverde@hotmail.com
>> eboyd@ppcpdx.org efinklea@energyadvocates.com elisaCKF@aol.com
>> EnerGlaw@aol.com Eric.Larson@oremetwahchang.com erick_johnson@pngc.com
>> ghuhta@cowlitzpud.org huse@eesconsulting.com ias@dvclaw.com
>> jack.speer@alcoa.com jacksonc@ida.net janet.prewitt@state.or.us
>> jdeason@chbh.com jeffn@subutil.com jhartso@enron.com JLH@mc-power.com
>> johk@critfc.org john.yanov@eweb.eugene.or.us johncameron@dwt.com
>> jolynnr@mresearch.com jpw@duncanallen.com jrb_ora@televar.com
>> jsaven@pacifier.com jschlect@avistacorp.com kevin.clark@ci.seattle.wa.us
>> kknitte@gcpud.org kmoxness@cencoast.com kpom@mail.pacifier.com
>> kyle@ppcpdx.org lawyer@teleport.com Lhamilton@avistaenergy.com
>> lpeters@pacifier.com lwolv@worldaccessnet.com lyn_williams@pgn.com
>> marc.hellman@state.or.us marss@perkinscoie.com matts1@atg.wa.gov
>> mershanlaw@aol.com mhain@ect.enron.com michaelearly@earthlink.net
>> mike.macdougall@powerex.com mmetzler@ci.tacoma.wa.us
>> mschaff@worldnet.att.net mthomas@mtpower.com Paul@KinergyLLC.com
>> pete.forsyth@kaiseral.com pete@ashland.or.us
peter@richardsonandoleary.com
>> pfox@bracepatt.com pljacklin@stoel.com pmurphy@mbllp.com
>> pnichols@idahopower.com pobenchain@idahopower.com pspi@dynegy.com
>> pvickery@tpud.org rachel@rnp.org ratecase@pngc.com rates@ppcpdx.org
>> rbstrong@painehamblen.com rdb@keywaycorp.com rfoiani@gcpud.org
>> rkindley@schwabe.com rle@givenspursley.com rpierce@avistaenergy.com
>> scott.brattebo@pacificorp.com seligman@teleport.com simonf@atg.wa.gov
>> sjohnsto@wutc.wa.gov skaravit@ci.tacoma.wa.us stephens@eslerstephens.com
>> steve@nwenergy.org tdeboer@painehamblen.com terrym@millcreeklaw.com
>> tgrim@chbh.com townsend@chbh.com tracigrundon@dwt.com
>> tstevenson@ci.burbank.ca.us weavertr@yakima-wa.com wmgt3@montana.com
>>

 - DS-NI-001-RESPONSE.doc
 - DS-NI-002-RESPONSE.doc
 - DS-NI-003-RESPONSE.doc


India: Enron aftermath

   Business Line - 02/21/2000

   Abhay Mehta

   Copyright (C) 2000 Kasturi & Sons Ltd (KSL); Source: World Reporter (TM) -
Asia Intelligence Wire

   Power Play

   A Study of the Enron Project

   * Publishers: Orient Longman, New Delhi * Price: Rs. 195

   THE Enron power project at Dabhol in Ratnagiri district of Maharashtra has
been mired in nationwide controversy ever since the
   inception of the project proposal in 1992; and the sordid tale ends only
in 1997, with the Supreme Court of India refusing to even
   admit an appeal against the Bombay High Court decision, of December 1996,
which while commenting that "This case has
   highlighted to the people as to how even after 50 years of Independence,
political considerations outweigh the public interest and
   the interest of the State and to what extent the Government can go to
justify its actions not only before the public but even before
   the courts of law" - yet dismissed a public interest petition against the
project on the (purely technical) ground of res judicata, even
   though new facts, new arguments, new evidence of the violation of the laws
of the land had been advanced by the petitioners.

   The fact that the fresh violations of the law were not even considered and
recorded, despite the petitioners adducing the required
   evidence, can only be termed as strange, perhaps bizarre.

   Abhay Mehta's simple, factual documentation - in fact a chronological
narration - of all events, including the process of bending all
   rules, of subverting the law for promoting a project involving
unparalleled future liabilities for Maharashtra, indeed for the whole of
   India - is not only masterly, it is devastating.

   It is a short, pithy book which deserves to be read from cover to cover by
all thinking citizens of this country. Barring the
   concluding chapter, the epilogue, there are no personal comments, only
facts, disseminated from the original papers, mostly 'secret'
   documents.

   All documentation has been carefully, faithfully recorded, including
extracts from supposedly 'top secret' minutes of cabinet
   committee meetings; and the specific violations of the law (which were
opposed by a few public spirited civil servants, much to
   their disadvantage) have been pointed up. Apart from an introductory
'Primer on Electricity' - introduced for the benefit of the
   layman, explaining some technical issues relating to electricity
generation, transmission and distribution - and the background of the
   events of 1991, the foreign exchange crisis, and the aftermath of the
crisis, the other fifteen chapters, three appendices and fourteen
   annexes of the small book (of 226 pages) packs in an enormous volume of
factual information. The strange saga of the Enron
   project, and the sheer magnitude of the future problems this one single
project poses for the country, need to be briefly recounted
   here, for essentially, it is the coming generation which would have to
face the problem.

   The MSEB has contracted to buy - and if not used, to pay for - 2000 MW of
electricity (for a period of 20 years) from the
   Dabhol Power Company (the legal entity set up by Enron, as an unlimited
liability company registered in India, through a maze of
   intricate crossholdings of equity by half a dozen or more 'front'
companies registered in various tax-free havens.

   Abhay Mehta has indicated the total payments to Enron over 20 years amount
to $ 35 billion (at 1998 exchange rates, around Rs.
   1,25,000 crores) over the life of the project. One must record that: (a)
crude oil/oil product prices have as of writing, more than
   doubled since the above calculations were made. A per the 'doctored'
figures presented by the company (and its advocate), the
   charge per unit of electricity supplied, at the 1998 level of prices, was
to 4.39 cent (per unit) as 'capacity charge' and 3.43 cents
   (per unit) for 'energy costs'.

   The former is indexed to the US inflation rate, and the latter to
international fuel prices. The former may be assumed to have gone
   up only marginally (rounded to 4.4 cents per unit); we know that fuel
prices have more than doubled internationally over 1999.
   Assuming the 'fuel costs' to have increased less than 100 per cent - even
though international prices have more than doubled - we
   may assume (for 1999) energy costs of 6.85 cents per units, making for a
total payment of 11.25 US cents per unit of electricity
   supplied by the Dabhol Power Company (DPC) to MSEB in late 1999, in Phase
I of the project.

   Within another two years, at 2000 MW, the annual offtake (for 365 days X
24 hours/day) would be 17.52 billion KWH; and at
   11.25 cents per unit, the total payment amounts to $1.97 billion annually;
for 20 years, this workout to $ 39.4 billion.

   This is not counting any further inflation in either energy costs or
capacity charge. At today's exchange rate - about Rs.43.5 per US
   dollar - in rupee terms this works out to wore than Rs. 175,000 crores (as
compared to Rs. 125,000 crores indicated by Abhay
   Mehta). This is the cost to MSEB in rupee; and to the country in foreign
exchange as payment to just one project authority, for
   supply of part of the power required in Maharashtra.

   The really significant point to note in this connection is that this
payment - and considerably more, depending on (a) future increase
   in'capacity charges' depending on US inflation rate, and international
prices of LNGaphtha (for 'fuel costs'), and (b) depreciation of
   the exchange rate of the rupee vis-a-vis the US dollar - is obligatory;
the assets of the MSEB, the Maharashtra government
   indeed, all assets of the Government of India (present and future) are
mortgaged to Enron, by way of sovereign guarantees
   extended by both governments.

   The other significant point in this connection is that - as predicted by
all independent Indian experts as well as the World Bank -the
   Enron project he forced the MSEB to cut its offtake of Tata Electric
Company's and its own much cheaper thermal power
   already; in a postscript dated August 1999, Abhay Mehta has indicated that
already, the MSEB had stopped buying between 200
   and 250 MW of power from Tata Electric (available at Rs. 1.80 per unit)
and has had to backdown its own Chandrapur thermal
   power station (cost of this power being Rs. 1.20 per unit), while forced
to buy more expensive Enron power at Rs. 5 per unit.

   The loss to MSEB on this count alone comes to Rs. 460 crore per year.

   This had in fact, been predicted earlier even by the World Bank.

   It is pointless here to go into the details of how precisely all this was
contrived, by a deliberate campaign of 'disinformation', of
   blatant lies, of sidelining of expert opinion, not only of independent
experts but also the GOI's own official advisers in this matter,
   namely, the Central Electricity Authority as well as that of the World
Bank, which was resolutely opposed to this project. The
   detailed facts, the letters exchanged in the above context, the pressure
tactics adopted, the flouting of all procedures norms, even
   statutory provisions of the Electricity (Supply) Act, are all carefully
documented by Abhay Mehta.

   Mehta correctly concludes: "We frequently blame external agencies - like
the World Bank - for all our problems, when, as a
   matter of fact, we ourselves are our own worst enemies. In the instant
case, the World Bank not only advised the Government of
   India against the project, it stood resolutely firm in its assessment of
the total inadvisability of this project. In fact, one must note
   here that in 1996, neighbouring Pakistan, which had entered into a
somewhat similar MoU with Enron, cancelled the project (and
   the Power Purchase Agreement with Enron), for a $ 670 million, 782 MW
residual oil-fuelled power plant, even though that
   Agreement had stipulated Enron power supply at a fixed rate of 6.4 US
cents per KWH over a 30 year period. (Note the
   estimated rate of 11.25 cents per KWH for Dabhol power for the MSEB in
December 1999, which works out to around Rs. 5
   per unit).

   One could go on; but one must leave the reader to go through Abhay Mehta's
crisp, factual, matter of fact narration of the Enron
   saga, and switch over to the point made by him in the epilogue to the
story, about 'The Next Round of Scams'.

   For quite some time, the ruling elite in India has been intent on
'privatising' all public enterprises; and even 'utilities' are no
   exception. The 'unbundling' of infrastructure with a view to privatisation
of all the 'profitable' segments. All this - as per the current
   'disinformation campaign' - is supposedly in the interest of
rationalisation and greater efficiency of poorer supply.

   The author has referred in this context to the acquisition from the
Government - by the Torrent Group - of the Ahmedabad and
   Surat Electricity companies at less than one-tenth of the market value of
the assets of thee facilities. Again, much like the Enron
   saga, all objections by the Finance Department of the Gujarat government
were overruled.

   And, Abhay Mehta has predicated that this onslaught - the break-up of
power utilities into three segments, generation, transmission
   and distribution, - with a view to their privatisation is likely to be the
new thrust by the ruling elite, for reasons that do not require to
   be spelt out.

   Though Mehta had the examples of the Torrent Group takeover of Ahmedabad
and Surat Electricity companies, and of the break
   up of the Orissa State Electricity Board before him, yet his statement can
be stated today to be prophetic; the UPSEB is now on
   the firing line. The recent strike by the workers and engineers of the
UPSEB in protest of the announced UP government decision
   to trifurcate the UPSEB; and the Union Minister of Power, Mr. Rangarajan
Kumaramangalam's statement that the UPSEB is a
   loss making, inefficient unit and that privatisation of the facilities
after the trifurcation - need to be noted.

   That 40 per cent of the dues of the UPSEB are from the UP Government; that
tariffs for UP electricity supply are fixed by the UP
   government and not by the UPSEB; that the UPSEB does not have the cash
even for routine maintenance as a result of the above
   - these are facts that nobody is prepared even to consider. That the
remedy for UPSEB lies in a different kind of reform and
   restructuring, is not even to be debated. The whole idea is to privatise
the profitable segments, and to leave the public sector entity
   with all the problem areas, including rural energy supply. It is against
this background that Abhay Mehta's book needs to be widely
   disseminated, read, and its implications understood.

   What is at stake is not a 'utility' here or a PSU there. What is at stake
is the future of some 80 per cent of the have-nots in this
   country.

   What is at stake is the 'pillory' of the assets of the nation for private
aggrandisement.

   Arun Ghosh


Just a friendly Friday reminder that I am counting on receiving your
scripts.  These scripts are extremely important to meeting a very short
deadline.  If you have questions or have a problem, please contact me at
713-853-9673 or 713-417-2185 (cell).

Thanks for your help,

Dan

PS
Lisa Gillette is out today.  If you sent them to her, please forward a copy
to me.


I spoke to Mark Taylor today and he said that he spoke this week with a
lawyer from, I believe Skadden, that had been hired by the OMLX to talk to
ED&F Mann about the CFTC issue.  I think Mark Taylor is waiting to hear back
from the Skadden lawyer.


What is the status of my upgrade request that was made 5 weeks ago?
---------------------- Forwarded by Richard B Sanders/HOU/ECT on 01/26/2000
08:01 AM ---------------------------

Linda R Guinn
01/26/2000 07:21 AM
To: Richard B Sanders/HOU/ECT@ECT
cc:
Subject: new laptop computer

As requested.
---------------------- Forwarded by Linda R Guinn/HOU/ECT on 01/26/2000 07:19
AM ---------------------------

Linda R Guinn
12/20/99 10:05 AM
To: Richard B Sanders/HOU/ECT@ECT
cc:
Subject: new laptop computer

I submitted this on 12/15.
---------------------- Forwarded by Linda R Guinn/HOU/ECT on 12/20/99 10:04
AM ---------------------------

Linda R Guinn
12/15/99 12:00 PM
To: Enron IT Purchasing@Enron
cc:
Subject: new laptop computer

Richard Sanders, the litigation manager for ENA legal,  would like to upgrade
his laptop computer.  RC # is 0630.  Could you please order the latest
version?  Please also contact me with any questions you have.

Thank you.

Linda Guinn


Let me know if you get three files -- one for each subsidiary.  That was the
only way I could send them out.

Errol


Hey!  Congradulations on getting that new phone number.  I knew you could do it.  Would you ask Gerald Gilbert to call me when he gets a chance?  My number is 713-853-4743.

Thanks

 -----Original Message-----
From: 	"Russell Diamond" <Russell.Diamond@RWEAMERICAS.com>@ENRON
Sent:	Monday, February 11, 2002 10:33 AM
To:	undisclosed-recipients:;@ENRON
Subject:	Work Phone Number

To All,

My bosses have been impressed with me so far, and for that gave me a phone, my new work number is 713-371-8581.

Russell


Sara:
What do you think?
Carol
----- Forwarded by Carol St Clair/HOU/ECT on 06/06/2000 08:59 AM -----

	Deepak Sitlani
	06/06/2000 08:22 AM

		 To: Carol St Clair/HOU/ECT@ECT
		 cc: Edmund Cooper/LON/ECT@ECT, Paul Radous/Corp/Enron@ENRON, Michael
Khajeh-Noori/LON/ECT@ECT
		 Subject: Re: Anglo American plc

Carol

Further to my voice-mail message, please see below.  Can you please let me
know whether you are happy for us (in London) to carry out the ISDA
negotiations with respect to Anglo American Corporation?

Please feel free to contact me with any questions you may have.

Many thanks
Deepak
---------------------- Forwarded by Deepak Sitlani/LON/ECT on 06/06/2000
14:15 ---------------------------

Edmund Cooper
06/06/2000 14:09
To: Deepak Sitlani/LON/ECT@ECT
cc: Michael Khajeh-Noori/LON/ECT@ECT, Martin Holmes/LON/ECT@ECT, Paul
Radous/Corp/Enron@ENRON

Subject: Re: Anglo American plc

Add the first one to the ISDA status list.

For the S. Africa entity ENA legal needs to be informed of this as they
usually deal with S. Africa. Suggest you contact Carol St. Clair as to
whether she is happy for us to run with this if we are just going to be doing
deals from Europe.

Thanks, Edmund

Deepak Sitlani
06/06/2000 02:04 PM
To: Edmund Cooper/LON/ECT@ECT, Michael Khajeh-Noori/LON/ECT@ECT
cc:

Subject: Anglo American plc

FYI
---------------------- Forwarded by Deepak Sitlani/LON/ECT on 06/06/2000
14:06 ---------------------------

Martin Holmes
06/06/2000 14:00
To: Paul Radous/Corp/Enron@ENRON
cc: Deepak Sitlani/LON/ECT@ECT

Subject: Anglo American plc

Paul

We would like to begin to establish ISDA agreements with the following
entities:

Anglo American plc (www.angloamerican.co.uk) based in London and

Anglo American Corporation of South Africa Limited.

The annual financial statement  of Anglo American plc can be taken from the
website above. I have asked the folks at Anglo American in Johannesburg,
South Africa for the financials for the Anglo American Corporation.

Can you take a look at this for me please?

Thanks

Martin


Mark,

As discussed, here is the URL for the proposed web site:
http://ecthou-lndev1.nt.ect.enron.com/westpowernet.nsf/
It is still on an internal server which I hope you will have access to.  Let
me know if it doesn't work.

The User ID is: "user1"  and the Password is:  "test"  .

I also ran through several of the web sites from which we gather our
information and did not run across the occurance of any copyright statements.

In terms of timing, we hope to release the site by the end of January to a
limited customer listing.

Regards,
Mike Etringer
503-464-3836


In order to better align our engineering and operations capabilities with the
commercial businesses they support, we are pleased to announce the following
organizational change will be effective immediately.  A new business unit,
Enron Engineering and Operational Services (EEOS), is being formed which will
include our existing operations in Enron Engineering and Construction Company
(EE&CC), Operational Energy Corporation (OEC), and National Energy Production
Corporation (NEPCO).

Brian Stanley, as President and Chief Executive Officer, and Keith Dodson, as
Chief Operating Officer will provide the leadership for this new
organization, reporting to the Office of the Chairman of Enron Wholesale
Services.  NEPCO will continue to operate as a stand-alone business under
John Gillis, President.

With the majority of EE&CC and OEC,s activities focused on assets and
projects which are in Wholesale Services, this will better align the efforts
of EEOS with the commercial businesses it supports.  While EEOS will be a
stand-alone unit within Enron Wholesale Services it will work very closely
with and have direct accountability to the business units it supports.

This realignment also centralizes our engineering and operations capabilities
in a single business segment and should ensure that innovation and best
practices are shared and implemented across our many operations and will also
allow for better identification of priorities and more effective allocation
of resources to these projects.  Consistent with this approach, Development
Engineering will have dual reporting to both EEOS and the business units
which they support.

With an extensive and varied portfolio of assets around the world and a wide
variety of new development opportunities available to Enron, it is critical
that we continue to maintain the best in class capability to design,
construct, commission, and effectively manage and operate Enron,s assets on a
global basis.

This new global business unit should insure that we will continue to enhance
these demonstrated capabilities and provide us with a sustainable advantage
as we advance our business strategy around the world.

Please join us in congratulating Brian and Keith on their new assignments.

Mark Frevert & Dave Delainey


(See attached file: g051401.pdf)

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 - g051401.pdf


***** CONFIRMATION OF MEETING WITH ORILLION *****

Gentlemen:

I have spoken with Jerry Sellers of Orillion and he will be visiting with EBS
on Tuesday, April 25, 2000 for about half a day.  Orillion is scheduled to be
at EBS from 1:00 - 4:00 p.m. in Conference Room 45C1.  The following
individuals will participate on behalf of Orillion.  They are as follows:

     Jerry Sellers, Chairman
     Terry Lindsey, President
     Professor Ken Dick, Technical Advisory Board at University of Nebraska

Orillion would like to propose the following discussion topics:

     1.  Introduce Orillion to EBS
     2.  Engage in Technical Discussions
     3.  Discussions on how Orillion can help EBS

Participants from EBS:

Arshak Sarkissian for Scott Yeager
Vince Kaminski
John Griebling
James Reece
David Reece
Everette Plante
Diane Hetzel
Dorn Hetzel
Ravi Thuraisingham


PORTFOLIO REPORT - from Lycos Finance
Thursday, Jan 17 2002 (generated at 03:00 PM PST)

Symbol      Close               Change     Today +/-             Total Return
-----------------------------------------------------------------------------
BEOS         0.11          0   (0.00%)         $0.00       $110.00  (-99.37%)
EEX          2.21      +0.06  (+2.79%)       $+60.00      $2210.00  (-19.64%)
GW           2.83      +0.03  (+1.07%)      $+450.00     $42450.00  (+33.18%)
KCS          2.70      +0.06  (+2.27%)      $+900.00     $40500.00 (+116.00%)
KEG          7.36      -0.26  (-3.41%)     $-2600.00     $73600.00  (+40.19%)
MHR          7.30      +0.17  (+2.38%)      $+850.00     $36500.00  (+82.50%)
TMR          3.55      +0.05  (+1.42%)      $+750.00     $53250.00  (-21.11%)
-----------------------------------------------------------------------------
Totals                                      $+410.00    $248620.00  (+17.90%)

Index          Last              Change
---------------------------------------
DOW Jones   9850.04   +137.77  (+1.41%)
NASDAQ      1985.82    +41.38  (+2.12%)
SP500       1138.88    +11.31  (+1.00%)

=============================================================================
                  Are you Trading online?  Need to get better?
                  Try QCharts--The Ultimate Trading Platform.
                              Check it out today!
               http://finance.lycos.com/home/qcharts/default.asp
=============================================================================

NEWS FOR THIS PORTFOLIO:
-----------------------------------------------------------------------------
KEG:       Key Energy Announces Conference Call
           -Jan 17 2002 4:33PM (BusinessWire)
           -http://finance.lycos.com/home/news/story.asp?story=25954556

=============================================================================
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5919 Westheimer Rd.

Just outside the loop by a couple of miles

 -----Original Message-----
From: 	Diamond, Daniel
Sent:	Monday, October 22, 2001 4:37 PM
To:	Cuilla, Martin
Subject:	RE: Trulucks

Count me in...where is it.  Oh yeah, my bitch (ken) is coming too.

-Dan

 -----Original Message-----
From: 	Cuilla, Martin
Sent:	Monday, October 22, 2001 3:38 PM
To:	Shulklapper, Ken
Cc:	Diamond, Daniel
Subject:	Trulucks

Hey we are going to Truluck's for all you can eat stone crab claws tonight in honor of my 32nd birthday.  I think it is about $35 each for the all you can eat claws or they also have steak, lobster, and seafood.  Let me know if you want to go so Zooey can make the reservation (7pm).  And ken no song although i might play it tonight if i get drunk enough

 -----Original Message-----
From: 	Shulklapper, Ken
Sent:	Monday, October 22, 2001 2:31 PM
To:	Cuilla, Martin
Subject:	Jet Plane

Do you have the song on your work computer?

Kenneth M. Shulklapper
Logistical Risk Management
Enron Freight Markets
(713) 853-7009 (phone)
(713) 646-3446 (fax)


Now you know we don't have the room!
mike


No, there are still some left for later on in the month.   I'll get with
Janice.

Have a great weekend,
Cindy

From: James Prentice/ENRON@enronXgate on 04/06/2001 01:18 PM
To: Stanley Horton/Corp/Enron@Enron
cc:

Subject: RE: STAN'S ASTROS TICKETS FOR THE MONTH OF APRIL

Cindy, are they all gone yet?  If not, I'd love to give some to the guys and
gals at the Clean Fuels Plants.  Thanks.

                                                            JSP

 -----Original Message-----
From:  Stark, Cindy   On Behalf Of Horton, Stanley
Sent: Thursday, April 05, 2001 9:51 AM
To: Cordes, Bill; Corman, Shelley; Hotte, Steve; Hayslett, Rod; Lowry, Phil;
McCarty, Danny; Meyer, Rockford; Moran, Michael P.; Smith, Gary; Prentice,
James; Gibbs, Dana; Garrison, John; Stone, Sherryl; Fossum, Drew
Subject: STAN'S ASTROS TICKETS FOR THE MONTH OF APRIL

Stan would like to offer out the following Astros tickets (4 tickets per
game) for the month of April, for business or personal use, as follows:

Thursday, April 5, vs. MIL @ 7:05PM  (short notice!)
Friday, April 6, vs. PIT @ 7:05PM
Saturday, April 7, vs. PIT @ 1:35PM
Sunday, April 8, vs. PIT @ 1:35PM
Sunday, April 22, vs. STL @ 7:05PM
Monday, April 23, vs. ATL @ 7:05PM
Tuesday, April 24, vs. ATL @ 7:05PM
Wednesday, April 25, vs. ATL @ 7:05PM
Friday, April 27, vs. FLA @ 7:05PM
Saturday, April 28, vs. FLA @ 1:35PM
Sunday, April 29, vs. FLA @ 1:35PM

First come, first served.

Thanks,
Cindy
X36197


----- Forwarded by Richard B Sanders/HOU/ECT on 11/20/2000 07:20 AM -----

	"Meringolo, Peter" <PMeringolo@brobeck.com>
	11/16/2000 01:58 PM

		 To: "'Richard.B.Sanders@enron.com'" <Richard.B.Sanders@enron.com>
		 cc: "'msmith1@enron.com'" <msmith1@enron.com>, "'David_Aamodt@pgn.com'"
<David_Aamodt@pgn.com>, "'Mary.Hain@enron.com'" <Mary.Hain@enron.com>,
"'jkeller@enron.com'" <jkeller@enron.com>, "'mday@gmssr.com'"
<mday@gmssr.com>, "Fergus, Gary S." <GFergus@brobeck.com>
		 Subject: Draft Response to CPUC subpoena on behalf of EPMI

Richard,

Attached for your review is a draft of EPMI's objections and responses to
the CPUC subpoena.  Please let me know if you have any questions or
comments.

 <<38#5_02!.DOC>>
Peter P. Meringolo
Brobeck, Phleger & Harrison LLP
Spear Tower
One Market
San Francisco, CA 94105
Main:  (415) 442-0900
Direct:  (415) 442-1285
Fax:  (415) 442-1010

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 - 38#5_02!.DOC


Can you guys do lunch downstairs?


IN THE SPIRIT OF LET US MAKE IT BETTER - NOT IN TED IS CHUCKING BLAME AROUND,
PLEASE CONSIDER THE FOLLOWING ISSUE:

At the Audit Comittee Meeting, Jeff made the comment that the number of and
timing of the limit notifications caused them to be meaningless.  Now part of
that was an attempt by him to diffuse the number of notifications represented
graphically, but I think that there is an element of truth, particularly of
late.  therefore, I propose that we work toward making that timing faster and
the impact more meaningful.

I think the following might help:
1) Cassandra will be our point person, therefore it will be faster than
waiting for the slower, more distracted and less organized ME
2) I will propose that we raise the threshholds for notifications,
particularly at Jeff's level - I think that the sheer volume makes an
impression on Rick. Unfortunately, I think that it will not be in effect
until after the Dec bd meeting.  FYI I have proposed this at least twice and
have been shot down by Greg and Rick, but now that a smart guy is proposing
it, it will probably get more attention.
3) We should use the executive report viewer as the mechanism for delivery.
I do not know who actually supports that thing so please let me know.
 It has been important to AA for audit purposes to see "evidence" that Rick,
Jeff, Ken and Bd received appropriate notification - so that needs to be
considered.
Another possibility would be RisktRAC.  The 3-d solution contracted for
contains an "Executive View" of "hot spots" .  Unfortunately, even though
Jeff requested it on his desk top 5 months ago, we can't get the IT resources
to pay attention to it.  IT however, has been interviewed several times for
magazines and have created such incredibly successful and useful products
such as EnergyDesk.com, Credit.com, En-lighten,
..............................................................................
..

Conceptually,
Notifications should take place before trading begins the next day.  This may
be utopian, but it is fundamentally correct (just because Enron doesn't know
it is supposed to, doesn't make it right).  I am certain that real risk
management organizations have a mechanism in place for this.   It  may be
necessary to create a SWAG process that is lightning fast with a more exact
process to follow.

Please have fixed by close of business today.

Ted


Up on the web. New email address: kontko@attbi.com

kari