The 6 financial gas confirms have been returned to us, signed by New Power. I have not heard whether we have received all the physical gas confirms yet and we are still trying to find out what financial power deals were concluded.

Marcus


Attached is the accomplishment discussion to go with the public affairs goals
-- let me know if this is sufficient and consistent with what you want to
present.... I can provide more detail if needed.

	Karen Myer
	12/04/2000 05:16 PM

		 To: Steven J Kean/NA/Enron@Enron
		 cc:
		 Subject: Goals - as discussed w/Mark Lindsey

Attached are the 2000 Goals for Public Relations.  We appreciate your
performance response.  Thanks.

Karen Myer
for Mark Lindsey.


Thanks!!!!!

   Kate Symes                12/14/2000 06:06 PM

To: Melissa Ann Murphy/HOU/ECT@ECT
cc:
Subject: Re: Deal # 476147

I talked to Diana Scholtes last night about this deal, and she looked at it
this afternoon. She says the deal is definitely not entered correctly, but
because it was done for the days when we got hit with transmission cuts, she
wants to look into it a little further before she changes or kills it. She
said she'd reconcile it tomorrow, and we'll let you know what we've done then.

Thanks for your patience,
Kate

Melissa Ann Murphy
12/13/2000 04:40 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Deal # 476147

Hello, I think that deal # 476147 might should have been entered as a buy
resale instead of as transmission.  There are not any other transmission
deals in the system with this counterparty.  If you would not mind looking
into this and letting me know I would appreciate it.

Thanks!
Melissa
3-1886


---------------------- Forwarded by Kay Mann/Corp/Enron on 03/14/2001 05:49
PM ---------------------------

Kay Mann
03/14/2001 05:34 PM
To: "Cogan, John" <JCogan@KSLAW.com>
cc:

Subject: RE: Roundtable

Attached is a general bio.  Please let me know if you need something
different or additional.


Are you going to that lame ass orientation today at the Houstonian?


Craig: I just noticed that you have me partnered with Les instead of Mills.
Thanks Brad


Mark:  Barbara Gray and Shonnie Daniel worked on a Q1 deal between Enron and
Texaco to create a JV called BL.  I believe that the ownership is 60/40,
respectively.  BL has its own employees drawn from both companies and
elsewhere but is still requiring additional services.  The swap group has
already opened two futures accounts for BL and drafted resolutions,
authorized trader lists, etc.  Before the closing, there was an
"understanding" that Enron would assist BL for a short time (until June,
2000).  However, credit (through Bill Bradford) negotiated a 3-year services
agreement for credit services to BL (I believe based upon 1 full-time person
run through an entire budget).  Randy Curry (BL's president) has requested
that legal (swaps group) consider a short-term services arrangement (I am
told by credit this would be for approx. 6-9 months; BL looking for approx.
20 ISDA's).  By the way, ENA is trying to negotiate an ISDA with BL but we
have no one to negotiate with!  BL has not yet hired an in-house lawyer.

Are you interested in pursuing this request?  Sara


Start Date: 10/27/01; HourAhead hour: 19;  No ancillary schedules awarded.  Variances detected.
Variances detected in Energy Import/Export schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2001102719.txt

Error retrieving HourAhead price data - process continuing...
---- Energy Import/Export Schedule ----
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 19 / Preferred:   0.00 / Final:   0.00)
  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 10/27/01
  TIE_POINT: FCORNR_5_PSUEDO
  INTERCHG_ID: EPMI_CISO_PAC
  ENGY_TYPE: FIRM


<<Petition for Declaratory Relief.DOC>>

Attached please find the latest version of the petition.  We have added two
paragraphs on the confidentiality provision, although I think we are leaning
toward excluding that claim.  It appears based on the interviews and
documents I have gathered, that the confidentiality clause was put in the
documents by Enron.  I have also left the sentence on acceleration of
payments bracketed.  I was not sure whether we had reached a final decision
as to its inclusion.  Finally, we appear to be one Guaranty agreement short.
We are missing a copy of the East Coast Power Guaranty.  I will call Lisa
about it this morning.

 - Petition for Declaratory Relief.DOC


tomorrow is absolutely horrible for me.  let's talk in the am.  perhaps you
and mona, sue and sandi can cover sans moi.


Start Date: 1/4/02; HourAhead hour: 2;  No ancillary schedules awarded.  Variances detected.
Variances detected in Load schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002010402.txt

---- Load Schedule ----
$$$ Variance found in table tblLoads.
     Details: (Hour: 2 / Preferred: 115.48 / Final: 115.45)
  TRANS_TYPE: FINAL
  LOAD_ID: SDG1
  MKT_TYPE: 2
  TRANS_DATE: 1/4/02
  SC_ID: ENRJ


here you go.  thanks.

John


Kay,

I edited the Termination Schedule replacing the term Purchase Amount per
unit to Unit Liability Amount for consistency with the new structure.

Lee

-----Original Message-----
From: Thompson, Peter J. [mailto:peterthompson@akllp.com]
Sent: Friday, December 08, 2000 10:30 AM
To: Kay Mann (E-mail)
Cc: Lee. Johnson (E-mail); Kent. Shoemaker (E-mail); Cheryl. Lipshutz
(E-mail); Roseann Engeldorf (E-mail); Brett. R. Wiggs (E-mail); Ben.
Jacoby (E-mail); Pipitone, Paul; Taylor, Rob; Cobb, Chris
Subject: Exhibits to Enron South America Gas Turbine Purchase Agreement

 <<Exhibits to Gas Turbine Purchase Agreement - without notations.DOC>>

This is the most recent draft of the exhibits.

The following items need to be added to complete the exhibits:

1. Exhibits B-1 and H-2 need to be added.

2. If one is warranted, a Seller Parent Guarantee should be
included as Exhibit C-1.

3. Does Exhibit F need to be updated and revised before signing?

4. In Section 3.1 of Exhibit K, the terms "Specific Date" and
"Recovery Schedule" are not defined.

5. For Exhibit T, please confirm that Enron has received all
documents that it should have received by now.

 - Exhibits to Gas Turbine Purchase Agreement - without
notations_GEredline120900.DOC


Janet, it may be in your personal interest to ensure that a number of
witnesses are available to ensure the message is delivered and there is not
confusion in the future.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 08/17/2000
03:49 PM ---------------------------

Janet R Dietrich
08/17/2000 01:50 PM
To: David W Delainey/HOU/ECT@ECT
cc:
Subject: Re: Various

Ok. Laura Luce is flying in as we speak and she should have the written
feedback drafts for both Cary Carrabine and Russell Murrell (Needs
Improvement for Manager level). The plan was for both Laura and I together to
meet with Cary next week, and Laura will be meeting with Russell and I may
end up meeting with Russell afterwards.

We will have the final written feedback to Fran by end of next week, after
the employee meetings. I hadn't planned for David Oxley to be in the meeting
with Cary. If you feel that is necessary just let me know. Thanks.


Some pics to enjoy!

______________________________________________________
Get Your Private, Free Email at http://www.hotmail.com
 - wed.jpg
 - wed1.jpg
 - naked.jpg
 - patti.jpg
 - jean.jpg


Thanks for the dinners, and the breakfast, and the company.  It was fun.  And
don't get cranky, but I'm going to be in and out of things this weekend since
I have midterms Monday and Tuesday.  Likely means that I'll be studying in
Berkeley and SF during the days on Sat and Sun but will be present for the
evenings.  H0pe that works.

Kisses,
Jeff

PS I'm trying, lord knows I'm trying, to stay out of it, but it's going to
start raining up at the Dome very, very soon.......


I'm done with March.  Take a look and let me know what you think.


See you all tonight at the Paragon!  Let me know if you need a ride or directions!

Analyst and Associate Happy Hour!
When: Thursday, November 8
Time: 6 - 8 pm
Where: Paragon
1309 NW Hoyt St.
Appetizers and drinks provided

<Embedded Picture (Metafile)>
<Embedded Picture (Metafile)>
<Embedded Picture (Metafile)>
<Embedded Picture (Metafile)>
<Embedded Picture (Metafile)>


---------------------- Forwarded by Richard Shapiro/NA/Enron on 07/06/2001 03:54 PM ---------------------------

Carolyn Cooney
07/05/2001 04:29 PM
To:	Richard Shapiro/NA/Enron@Enron, Karen Denne/Corp/Enron@ENRON, Jeff Dasovich/NA/Enron@Enron
cc:	Linda Robertson/NA/Enron@ENRON, Lora Sullivan/Corp/Enron@ENRON

Subject:	No Will High Bills Presentation

Here is the revised presentation.


FYI.  As you recall, based on the meeting that I attended at SVMG with Karen
Denne and Jeff Skilling, they put me on their internal distribution list
(though I'm not sure that they realize it).  Here's the latest from Carl
Guardino, the groups Exec Dir, and Davis appointee to the ISO.

Best,
Jeff
----- Forwarded by Jeff Dasovich/NA/Enron on 04/26/2001 12:03 PM -----

	"Carl Guardino" <cguardino@svmg.org>
	04/26/2001 10:32 PM
	Please respond to cguardino

		 To: <cguardino@svmg.org>
		 cc:
		 Subject: Important - Save Money/Energy

Governor Gray Davis has asked that we apprise Member Companies of the
Silicon Valley Manufacturing Group, and our regional and statewide business
colleagues, on the ways that employers can participate in conservation and
energy-efficiency programs that save power and money.

PLEASE NOTE that the Governor has recently signed into law a number of ways
that employers can participate to save money.  I hope you will forward this
to the appropriate person in your company to take advantage of this
program - and to help our State avoid rolling blackouts this summer.

Thank you very much.

Sincerely,

Carl Guardino

CALIFORNIA BUSINESSES: MEETING THE ENERGY CHALLENGE

GENERAL HELP NUMBERS FOR BUSINESS:

For all Energy Efficiency Rebate Programs:  California Energy Commission:
1-800-232-4685 or 1-800-555-7794

Business Energy Help-line (M-F 8-5) (916) 445-9699

ENERGY EFFICIENCY AND CONSERVATION PROGRAMS

* 20/20 Energy Rebate: Residential, commercial, and industrial customers are
eligible for this voluntary program which will provide rebates to customers
who reduce their summer 2001 electricity usage.  Customers will receive a
20% rebate on their summer electric bill if they cut back their electricity
use by 20% over last summer's level. (Direct access customers are not
eligible.)

SCE website and 800 number
http://www.sce.com/002_save_energy/index.shtml; 1-800-736-4777

PG&E website and 800 number
http://www.pge.com/003_save_energy/003b_bus/index.shtml; 1-800-468-4743

SDG&E website and 800 number
http://www.sdge.com/efficiency/index.html; 1-800-411-SDGE

* Incentives for Efficient Lighting (also offered by Municipal Utilities):
Incentives are to encourage the purchase and use of "Energy Star" lighting
fixtures, when applicable. The program also offers incentives and assistance
with installation of lighting control technologies, such as dimming, timers,
and occupancy sensors, which provide more peak demand reduction in
commercial settings.

SCE website and 800 number
http://www.sce.com/002_save_energy/index.shtml; 1-800-736-4777

PG&E website and 800 number
http://www.pge.com/003_save_energy/003b_bus/index.shtml; 1-800-468-4743

SDG&E website and 800 number
http://www.sdge.com/efficiency/index.html; 1-800-411-SDGE

* Low-energy usage building materials: California's commercial buildings
account for 36% of the state's annual electricity use.  During peak times,
commercial buildings use 11% of the state's electricity for lighting and 15%
for air conditioning. Funds will be used to identify and buy-down the cost
of energy measures, such as "white roofs," used to retrofit commercial
buildings for energy efficiency.

Contact: Scott Matthews CEC website and 800 number
www.energy.ca.gov/peakload; 1-800-555-7794

* Oil and Gas Pumping Efficiency Projects: Incentives are provided for
high-efficiency pump and motor retrofits for oil and gas producers and
pipeline operations.

Contact: Julie Fitch (415) 703-2776
http://www.cpuc.ca.gov/static/industry/electric/energy+efficiency/programdes
criptions.htm

RENEWABLE ENERGY:

* Emerging Renewable Account: Provides rebates for the purchase and
installation of solar energy systems up to 10 kW (small business).
Administered by the CEC.

Contact: Sandy Miller CEC website and 800 number
www.energy.ca.gov/peakload; 1-800-555-7794

* Renewable Loan Guarantee Program: Loan guarantees to purchase and install
renewable energy systems, administered through the California Technology
Trade and Commerce Agency.

Contact: Al Salazar (916) 323-8308

* Solar Tax Credit: The Governor has proposed a new solar credit for the
purchase and installation of solar energy systems between 10 kW and 200 kW
for the 2001 through 2003 tax years. The credit would equal 50 percent of
the net cost of the system. This proposal is in SB 17X (Brulte).

Program has not yet been enacted legislatively.
Contact Technology Trade and Commerce Agency:
Business Energy Help-line (M-F 8-5) (916) 445-9699 or
Contact the Franchise Tax Board (800) 852-5711

* Large Nonresidential Standard Performance Contract program: This program
helps businesses with monthly peak demands of 500 kW or more replace
inefficient equipment of a variety of types (e.g., refrigeration, air
conditioning, and ventilation).

SCE website and 800 number
http://www.sce.com/002_save_energy/index.shtml; 1-800-736-4777

PG&E website and 800 number
http://www.pge.com/003_save_energy/003b_bus/index.shtml; 1-800-468-4743

SDG&E website and 800 number
http://www.sdge.com/efficiency/index.html; 1-800-411-SDGE

* Small Business Standard Performance Contract program: This program is the
small-business counterpart of the large program described above. It is
focused on small businesses (with peak demands under 500 kW per month) and
also offers financial incentives for equipment replacement, after energy
savings are verified.

SCE website and 800 number
http://www.sce.com/002_save_energy/index.shtml; 1-800-736-4777

PG&E website and 800 number
http://www.pge.com/003_save_energy/003b_bus/index.shtml; 1-800-468-4743

SDG&E website and 800 number
http://www.sdge.com/efficiency/index.html; 1-800-411-SDGE

* Express Efficiency program: This program offers prescribed rebates for
specific energy efficiency measures to small businesses (peak demand under
500 kW). Rebates are available for lighting, air conditioning,
refrigeration, food service, and agricultural efficiency measures. Rebates
for specific equipment are paid up front and only require a simple
application process.

SCE website and 800 number
http://www.sce.com/002_save_energy/index.shtml; 1-800-736-4777

PG&E website and 800 number
http://www.pge.com/003_save_energy/003b_bus/index.shtml; 1-800-468-4743

SDG&E website and 800 number
http://www.sdge.com/efficiency/index.html; 1-800-411-SDGE

* Business Energy Guide: This publication provides energy efficiency
guidance for business

SCE website and 800 number
http://www.sce.com/002_save_energy/index.shtml; 1-800-736-4777

PG&E website and 800 number
http://www.pge.com/003_save_energy/003b_bus/index.shtml; 1-800-468-4743

SDG&E website and 800 number
http://www.sdge.com/efficiency/index.html; 1-800-411-SDGE

DEMAND REDUCTION PROGRAMS FOR BUSINESS

INVESTOR-OWNED UTILITY (IOU) INTERRUPTIBLE PROGRAMS:

* Voluntary Demand Response Program (VDRP): This is a voluntary bid-based
program for the commercial sector that pays $350 a megawatt hour to
companies dropping loads either the day of or the day before load relief is
needed.  This program is open to customers who can curtail at least 15% of
load, with a minimum load drop of 100kW.

SCE website and 800 number
http://www.sce.com/002_save_energy/index.shtml; 1-800-736-4777

PG&E website and 800 number
http://www.pge.com/003_save_energy/003b_bus/index.shtml; 1-800-468-4743

SDG&E website and 800 number
http://www.sdge.com/efficiency/index.html; 1-800-411-SDGE

* Optional Binding Mandatory Curtailment Program (OBMC): The program exempts
participants from rotating black-outs if they can reduce the load on their
entire circuit by the required amount (5 to 20%) for the entire duration of
every rotation outage (outages are usually for one hour).

SCE website and 800 number
http://www.sce.com/002_save_energy/index.shtml; 1-800-736-4777

PG&E website and 800 number
http://www.pge.com/003_save_energy/003b_bus/index.shtml; 1-800-468-4743

SDG&E website and 800 number
http://www.sdge.com/efficiency/index.html; 1-800-411-SDGE

* New Base Interruptible Program (BIP): This program limits interruptions to
one 4-hour event per day, 10 events per month, and 120 hours per year and
provides a $7 per kW-month credit to participants.  Alternatively, a $6 per
kW penalty will be imposed for consumption in excess of firm service load.
This program is open to customers who can commit at least 15% of load, with
a minimum of 100kW per event.

SCE website and 800 number
http://www.sce.com/002_save_energy/index.shtml; 1-800-736-4777

PG&E website and 800 number
http://www.pge.com/003_save_energy/003b_bus/index.shtml; 1-800-468-4743

SDG&E website and 800 number
http://www.sdge.com/efficiency/index.html; 1-800-411-SDGE

INDEPENDENT SYSTEM OPERATOR (ISO) INTERRUPTIBLE PROGRAMS:

* Demand Reduction Program (DRP): This program will pay customers a monthly
reservation payment of $20,000/MW/month to be available on weekdays between
11:00 AM and 7:00 PM from June 1 through September 30 to curtail at ISO
request, and will additionally receive $500/MWh for curtailed demand.  This
program is open to customers with a minimum aggregated load bid of 1 MW.
Total curtailment time is limited to 24hr/month.

Contact: Don Fuller (916) 351-4445 <http://www2.caiso.com/clientserv/load/>

* Discretionary Curtailment Program (DLCP): This program is similar to the
VDRP.  It is a voluntary program that will pay customers a similar incentive
to the VDRP to curtail load when called upon by the ISO.  This program is
open to customers with a minimum aggregated load of 1 MW.

Contact: Don Fuller (916) 351-4445 <http://www2.caiso.com/clientserv/load/>

METERING AND OTHER DEMAND-RESPONSIVE SYSTEMS

CALIFORNIA ENERGY COMMISSION (CEC) PROGRAMS:

* Time-of-Use Meters (CEC and IOUs): Businesses with loads over 200 kW per
month will receive meters that will enable them to better track and manage
their energy use and participate in demand reduction programs.

Contact: Don Kazama CEC website and 800 number
www.energy.ca.gov/peakload; 1-800-555-7794

* Demand Responsive Building Systems: This program provides grants to
businesses to reduce demand in commercial buildings.  This technology
reduces electricity demand during peak periods by automatically raising
thermostats, dimming appropriate lighting and reducing the electricity use
of other building systems.

Contact: Scott Matthews CEC website and 800 number
www.energy.ca.gov/peakload; 1-800-555-7794

* Innovative Peak Load Reduction: This program takes full advantage of the
innovations of the private sector to generate innovative solutions to reduce
peak demand. Grants will be awarded to businesses for efficiency projects
including, but not limited to, lighting and cooling efficiency improvements,
solar cooling, building energy management controls, electric generation from
landfill gas, and solar systems.

Contact: Scott Matthews CEC website and 800 number
www.energy.ca.gov/peakload; 1-800-555-7794

MORE ENERGY SAVING PROGRAMS AND TIPS:

* Inspectors from private firms called ESCOs (Energy Service Companies) can
audit your building, identify how you can reduce energy costs, specify the
equipment needed, finance the project, install the equipment and then
guarantee that it will operate properly. Generally, the ESCO shares the
financial risk associated with the project and in return keeps some of the
savings on your energy bill. Call your utility company for more details.

Technology Trade and Commerce Agency
* Business Best-practices web site: http://commerce.ca.gov/energy

* Business Energy Help-line (M-F 8-5) (916) 445-9699

GOVERNOR'S RATE PROPOSAL:

The Governor's proposal allocates the same percentage rate increase to
residential and to commercial/industrial customers and makes changes only to
businesses' current rate structures.  Customers on time-of-use rates, as
well as those who are not, would receive the same percentage increase.
Time-of-use increases would be allocated only to the peak and mid-peak
rates, in an effort to encourage more intensive conservation at times when
it is most needed. The Governor also supports a direct access option for
business customers that ensures the financial stability of the bridge loan
and revenue bonds that are needed to back the state's power purchases.

 - winmail.dat


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 11/15/2000
10:04 AM ---------------------------

Sevil Yaman@ENRON
11/15/2000 09:40 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Robert Mccullough speech

Vince,

Here is a speech of Robert that I recently received.

Sevil,


Jeff,

A short follow up on the P+ options.

Attached is a chart showing historical correlations for calendar spreads
between futures contracts.   It shows correlation over four different time
horizons up to the roll of the nearest contract in each pair.   As you can
see the level is usually higher than 0.98 and often near 0.99.    If our
current book of "index P+" options were re-marked at a 98% correlation, it
would result in a  reduction in M-T-M value of about $78 million according to
my estimate.


---------------------- Forwarded by Chris Germany/HOU/ECT on 12/27/99 11:17
AM ---------------------------

pdrexel@columbiaenergygroup.com on 12/27/99 08:02:44 AM
To: Chris Germany/HOU/ECT@ECT
cc:
Subject: JAN 2000 PENN FUEL GAS NEEDED

---------------------- Forwarded by Paul Drexelius/CES/ColumbiaGas on 12/27/99
08:08 AM ---------------------------

KIM NOVSEK BIZIK
12/23/99 11:34 AM

To: Phil Villagomez/CES/ColumbiaGas@ColumbiaGas
cc: Noel Bartlo/CES/ColumbiaGas@ColumbiaGas, Paul
Drexelius/CES/ColumbiaGas@ColumbiaGas, Marianne
Stiles/CES/ColumbiaGas@ColumbiaGas, Joanne Swogger/CES/ColumbiaGas@ColumbiaGas
Subject: JAN 2000 PENN FUEL GAS NEEDED

Hi Phil.

I need gas at Penn Fuel for Jan 2000.  The volume swings each day.  I have
attached my spreadsheet.  Please call me if you have any questions.  Thanks.

 - pfg0100.xls


Attached is EPMI's protest of GridFlorida's amended Dec. 15 filing.  We
protested:

Certain Governance provisions
The allocation to the utilities of the PTRs (physical transmission rights)
The balanced day ahead scheduling requirement (telling FERC that it should
require a real time energy market instead)
Suggest an alternative approach to the ICAP market in which the ICAP is
monitored and a market only established after the icap drops (incentivizing
the LSEs to keep their reserves at the required level)

 - 0137379.01


<<InternetNews - Advertising Report -- Red Sky Interactive Axes 70.url>>
Hope colleen is ok.

 http://www.internetnews.com/IAR/article/0,,12_535071,00.html

 - InternetNews - Advertising Report -- Red Sky Interactive Axes 70.url


Keith,

It was a great pleasure to work you with on this project.
The entire Enron team was impressed by the quality of the students
and commitment of the School to exploring new and creative
ways of exposing students to business problems.

Vince

Weigelt <Weigelt@wharton.upenn.edu> on 04/10/2001 12:05:25 PM
To: "'vkamins@enron.com'" <vkamins@enron.com>
cc:
Subject: Enron project

Vince;

I just wanted to tell you how much I enjoyed working with Enron on the Tiger
Project.  I found the interaction with you and your colleagues very
stimulating.  The ideas we covered (like whether there are network
externalities in these markets) was more like a workshop than a project.  I
wish all businessmen had your interests and capabilities.

Thanks

Keith


buffalo (BUF-uh-lo) noun, plural buffalo or buffaloes or buffalos

   1. Any of several oxlike Old World mammals of the family Bovidae, such
      as the water buffalo and Cape buffalo. The North American bison,
      Bison bison.

   2. The buffalo fish.

verb tr.

   1. To intimidate, as by a display of confidence or authority.

   2. To deceive; hoodwink.

   3. To confuse; bewilder.

[Italian bufalo, or Portuguese, or Spanish bufalo, from Late Latin bufalus,
from Latin bubalus, from Greek boubalos.]

   "Moe Howard (Paul Ben-Victor), the supposed brains of the act, is easily
   buffaloed by studio bosses."
   Terry Kelleher, Picks & Pans: Tube, People, Apr 24, 2000.

This week's theme: animal words that are used figuratively.

............................................................................
Heaven is under our feet as well as over our heads. -Henry David Thoreau,
naturalist and author (1817-1862)

Q: Some time ago you featured a quote about foo in AWAD. Could you resend it?
A: You may search the archives at http://wordsmith.org/awad/search.html
   or browse them at http://wordsmith.org/awad/archives.html All the
   words and quotes since the beginning of AWAD are available there.

Pronunciation:
http://wordsmith.org/words/buffalo.wav
http://wordsmith.org/words/buffalo.ram


The report named: NG - PROPT P/L <http://trv.corp.enron.com/linkFromExcel.asp?report_cd=11&report_name=NG+-+PROPT+P/L&category_cd=5&category_name=FINANCIAL&toc_hide=1&sTV1=5&TV1Exp=Y&current_efct_date=11/07/2001>, published as of 11/07/2001 is now available for viewing on the website.


I think that Kerry Stroup is handling non-MISO/ARTO midwest matters.

 -----Original Message-----
From: 	Landwehr, Susan M.
Sent:	Sunday, October 07, 2001 11:08 PM
To:	Fulton, Donna; Novosel, Sarah
Cc:	Walton, Steve; Kaufman, Paul; Shapiro, Richard; Hueter, Barbara A.; Nord, Sue; Steffes, James D.
Subject:	Xcel

Donna/Sarah--I got together with Audrey Zibelman from Xcel on Friday afternoon to catch up and she wanted to talk about the petition that Xcel and the other midwest utilities had filed on transferring their assets into a for profit transco, Translink.  In my discussions with Audrey, she expressed a hope that Enron would be able to support the filing and that she'd like to open a dialogue on how to get our support.  I indicated that there were at least 2 issues that would be of concern for us---support for one RTO and support for one tariff within that RTO.  Although she was open and probably even supportive of one RTO in the midwest, there is a separate tariff for any delivery within the Translink system within her proposal.  SHe described that tariff as being different than the Detroit Edison case that you guys filed against.  I confirmed that the publics who are in the transco (NPPD, OPPD, Cornbelt) would not agree to be in the transco without the separate tariff.

I have sent via overnight a copy of materials on the transco to both of you.  I told her that Donna was that lead on the Midwest team, and that you'd be willing to talk/meet with her.  If practical, it would be good if you could call her in the next few days for a number of reasons---1.) I am sure that Xcel is planning a similiar transco for the west and if you can get a better sense of whether we are on any of the same pages, it would be good to have that input for our western discussion on Wednesday in Houston  2.) she is one of the panelists for RTO week, so you might be able to set up a time in D.C. that you could meet in person  3.) you might be able to get a sense of what she will be talking about at RTO week on her panel.

Here is her info:  		Audrey Zibelman
				VIce President
				Xcel Energy
				Independent Transmission COmpany
				414 Nicollet Mall  6th FLoor
				Minneapolis, MN  55401

				audrey.a.zibelman@xcelenergy.com

				#612-330-7713


---------------------- Forwarded by Randall L Gay/HOU/ECT on 01/28/2000 03:49
PM ---------------------------

Matthew Lenhart
01/28/2000 02:28 PM
To: Randall L Gay/HOU/ECT@ECT
cc:
Subject:


I have sent your question re on line trading to that area.  They will contact
you.  I am in the process of reviewing your special provisions.

Best regards,

Debra Perlingiere
Enron North America Corp.
Legal Department
1400 Smith Street, EB 3885
Houston, Texas 77002
dperlin@enron.com
Phone 713-853-7658
Fax  713-646-3490


Dave --

Can you please send to Rick Shapiro the agenda for next Wednesday's meeting?  Thanks,

Jim


-----Original Message-----
From: 	PEEInc@aol.com@ENRON [mailto:IMCEANOTES-PEEInc+40aol+2Ecom+40ENRON@ENRON.com]
Sent:	Thursday, August 30, 2001 5:47 PM
To:	Tholt, Jane M.
Subject:	Patten Energy

 - Jaime Tholt.xif


Thanks Lance,
I have a question:  on the Ercot transmission outage  page,   the TU  Bellmead station is listed as having trouble - the buss is damaged due to storm.    Is this the reason that there are TU CSC's, as mentioned on the Ercot conference call?  The station is to be out until August 10th.  We have had a significant price split and I think that this might be the specific reason.
I have tried powerworld,  but I couldnt turn off this station.

What do you think?

JMF

 -----Original Message-----
From: 	Cunningham, Lance
Sent:	Thursday, August 09, 2001 1:29 PM
To:	Ballato, Russell; Curry, Mike; Day, Smith L.; Dean, Clint; Forney, John M.; Gilbert-smith, Doug; Jester, Larry
Cc:	Lin, Martin; Shanbhogue, Vasant; Yaman, Sevil
Subject:	ERCOT LMP at peak

Doug,

A few weeks back I showed you a picture of what ERCOT could look like with LMP prices.  The attached figure has the lines removed as you requested and areas identified by price.

 << File: 2001 Summer Peak LMP.doc >>

Lance


Scott x30321


FYI.  The Portland General Electric/Sierra Pacific merger is on the Federal
Energy Regulatory Commission's agenda for the meeting of November 21st.  We
will not know until next Tuesday whether FERC will approve the merger or set
it for technical conference.


-----Original Message-----
From: navigator@nisource.com [mailto:navigator@nisource.com]
Sent: Friday, October 19, 2001 10:49 AM
To: navigator@nisource.com
Subject: Critical,OTHER,20011020,COLUMBIA GULF,007854581,Sea Robin
(meter 481) Nominations - UPDATE

                       COLUMBIA GULF TRANSMISSION COMPANY
                        NOTICE TO ALL INTERESTED PARTIES
                                OCTOBER 19, 2001

Re:  Sea Robin (meter 481) Nominations - UPDATE
Notice ID: 3198
5 - NO RESPONSE REQUIRED

Columbia Gulf Transmission Company has been informed that the previously
reported scheduled maintenance work upstream of meter station 481 (Sea Robin -
Erath) has been completed and that the BTU now meets Columbia Gulf's
requirements.  Columbia Gulf is willing to accept nominations effective for the
gas day of October 20, 2001.


Tana/Kelly/Karen:

The product long descriptions below will fall under two new product types:
   CAN Recycled OCC Phy
   CAN Recycled ONP Phy

 Credit (Tom Moran) has approved copying the profiles for the new product
types from the following:

 US Recycled OCC Phy
 US Recycled ONP Phy

Please respond no later than 10 a.m. on Wednesday, May 30.

Thank you.

 -----Original Message-----
From:  Lozano, Melba
Sent: Tuesday, May 29, 2001 10:35 AM
To: Sever, Stephanie
Cc: Nelson, Gary; Walker, Chris
Subject: FW: Approval needed for 2 product types (CAN Recycled OCC and ONP
Phy)

Stephanie:

For CAN Recycled Occ phy  they want to copy US Recycled OCC Phy (2008)
For CAN Recycled ONP phy they want to copy US Recycled ONP Phy (2009)
For CAN Newsprint Phy they want to copy US Newsprint Phy (2006)

If you have any questions the best person to ask is either Chris or Gary
regarding these products.

Thanks,
Melba Lozano
713-345-8986
713-646-8511 Fax
713-698-4847 Pager

 -----Original Message-----
From:  Walker, Chris
Sent: Friday, May 25, 2001 11:34 AM
To: Blumenthal, Jeff; Musch, Susan; Hagelmann, Bjorn; Taylor, Mark; Collins,
Harry; Moran, Tom; Mao, Shari; Hoang, Charlie
Cc: Lees, Lisa; Sever, Stephanie; Jones, Tana; Lambert, Karen; Lombardi,
Kelly; Sweitzer, Tara; Kenne, Dawn C.; Moorer, Torrey; Cass, Robert B.;
Meredith, Kevin; Lozano, Melba; Alatorre, Carlos
Subject: Approval needed for 2 product types (CAN Recycled OCC and ONP Phy)

Please approve the following 2 product types in Data Manager after 11:00
A.M.  Attached are the GTC and long descriptions.

CAN Recycled OCC Phy
CAN Recycled ONP Phy

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 "Awaiting Approval" (OR  "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"


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Re upcoming meeting bt Chairman Greenspan and Davis this Tuesday.

Passed on with regards from Maureen Raymond-Castaneda

---------------------- Forwarded by Gwyn Koepke/NA/Enron on 12/22/2000 03:56
PM ---------------------------

"VINCENT KAMINSKI, ENRON CORP" <ERMS@bloomberg.net> on 12/22/2000 03:52:33 PM
To: gkoepke@ENRON.COM
cc:

Subject: (BN ) Greenspan, California Governor Gray Davis to Meet (Up

      Story

Greenspan, California Governor Gray Davis to Meet (Update2)
12/22/0 16:25 (New York)

Greenspan, California Governor Gray Davis to Meet (Update2)

     (Adds comment from Standard & Poor's, background about Long
Term Capital Management, power producer New West.)

     New York, Dec. 22 (Bloomberg) -- Federal Reserve Chairman
Alan Greenspan agreed to meet California Governor Gray Davis on
Tuesday as soaring power bills threaten to put the state's two
biggest utilities into bankruptcy.
     ``Davis asked for this,'' said Steve Maviglio, spokesman for
the Democratic governor. ``He wants to talk with him about the
electricity situation in California and see if he has any ideas.''
     The meeting, to take place in Washington, comes as Pacific
Gas and Electric Co. and Southern California Edison struggle under
$8.1 billion of losses stemming from soaring power costs and
regulations barring them from raising prices.
     Fed officials have called Wall Street dealers who underwrite
the companies' short-term debt, or commercial paper, as well as
analysts, seeking information on the effect of the crisis in the
markets, two dealers said. A Fed spokeswoman declined to comment.
     With their credit rating under review for a possible
downgrade, the utilities can't sell more commercial paper. More
than $2 billion of the short-term debt matures in the next two
months. A default on the IOUs typically triggers defaults on a
company's other debt, which totals more than $20 billion for the
two utilities.

                             Fed Role

     As the overseer of the U.S. banking system, the Fed monitors
potential financial crises for any possible ripple effect that
could hurt the economy. The central bank in 1998 brokered a $3.6-
billion bailout of Long-Term Capital Management by more than a
dozen banks and securities firms after the near-collapse of the
hedge fund roiled world markets.
     Now, with growth slowing and banks curbing lending, ``a
credit issue can pose the potential to become a systemic threat,''
said Jim Glassman senior U.S. economist at Chase Securities.
``What is strictly an event not related to the economy in a narrow
sense could fuel the fears of other issues like this.''
     Edison, in a regulatory filing this week, said it may have no
choice but to seek bankruptcy protection, while California -- has
considered blackouts if the utilities can't continue buying power.
     Standard & Poor's, which earlier this week indicated it was
prepared to cut ratings on the utilities to junk status, today
left ratings unchanged. It said it did so in part because the
heightened involvement of senior government officials ``suggests
that the utilities may be spared from insolvency.'' The rating
company still has their debt under review for a possible cut.

                             Politics

     The meeting with Greenspan could help Davis show the crisis
has national implications, muting opposition to a poltically
unpopular rate increase.
     The California Public Utilities Commission, which must
approve increases, yesterday said they would hear arguments about
a price rise next week, though the earliest they would bring the
issue to a vote would be Jan. 4.
     ``The commission made a late first step when they should be
running,'' said Paul Patterson, an analyst at Credit Suisse First
Boston who has ``hold'' ratings on both companies.
     Shares of San Francisco-based PG&E Corp. -- the parent of
Pacific Gas and Electric -- rose $1.81 to $20.06. Shares of
Rosemead, California-based Edison International -- which owns
Southern California Edison -- gained $1.31 to $16.25.
     In addition to the losses, PG&E has a commercial paper
program of $1.85 billion, some or most of which may come due
within the next four weeks.

                            `Lifeblood'

     Southern California Edison has a commercial paper program of
$1.6 billion. With both companies under review for a possible debt
ratings cut from both S&P and Moody's Investors Service, they're
effectively barred from issuing new commercial paper.
     ``The commercial paper market is the lifeblood of the credit
markets,'' said Tom Gallagher, a Washington-based at ISI Group
Inc. ``If all of the sudden there's a problem there, credit
markets can freeze up really fast.''
     Under typical circumstances, the companies would use backup
credit lines to refinance the commercial paper if they couldn't
issue new commercial paper.
     Yet Southern California Edison is having troubling convincing
lenders led by Chase Manhattan Corp. to renew a $1 billion credit
line that backs up its $1.6 billion commercial paper program,
according to people familiar with the matter.

                         Allowed to Borrow

     In the case of PG&E, the company has borrowed up to its
authorized limit, including part of a $1 billion backup line
arranged by Bank of America Corp. two months ago, according to a
Securities and Exchange Commission filing. The California PUC
yesterday granted the utility's request to raise an additional $2
billion with long-term debt.
     PG&E's existing long-term debt stood at $6.5 billion as of
Sept. 30, according to a filing with the SEC. Edison International
had $12.5 billion in long-term debt as of Sept. 30, a separate SEC
filing showed.
     California has faced the prospect of blackouts because
electricity providers in the U.S. Northwest refused to sell power
to the utilities over concerns they couldn't pay. Rolling
blackouts were averted earlier this month after state and federal
agencies provided last-minute supplies.

                        Emergency Declared

     PG&E serves San Francisco and the surrounding area. Edison is
serves the area around the city of Los Angeles, which itself has a
municipal utility, the Department of Water and Power.
     The California Independent System Operator, which manages the
state's power grid, yesterday said it may cut power to some
industrial users after electricity reserves dropped again. It is
the 35th time the operator has declared a so-called stage two
emergency.
     New West Energy, the trading unit of Arizona utility Salt
River Project, withdrew from the California market this week,
calling it too risky. The company has held up to $72 million in
monthly IOUs from California utilities, said spokesman Frederick
Bermudez.
     ``If the utilities go bankrupt, the ISO goes bankrupt and
California could go dark,'' he said. ``If that happens, somebody
will be left holding the bag and we are trying to make sure it is
not us.''

--Mark Lake and Liz Goldenberg in the New York newsroom (212) 893-
5989 or mlake1@bloomberg.net, and Noam Neusner in Washington and
Dan Taub in Los Angeles with reporting by Jim Polson in Princeton
/bw/jdh

Story illustration: {LN033000 <CORP> DES <GO>} to see Southern
California Edison's existing $1 billion credit line.

For Pacific Gas & Electric's CP program, see
{PCG <Mmkt> DES <GO>}

For Southern California Edison's cp program, enter
{SCE <Mmkt> DES <GO>}

EIX US <Equity> CN
PCG US <Equity> CN
CMB US <Equity> CN
BAC US <Equity> CN

NI UTI
NI COS
NI FEA
NI CA
NI US
NI NRG
NI ELC
NI CMD
NI FIN
NI LOANS
NI SYNLOANS
NI CORPFIN
NI BON
NI COR
NI NEWBON
NI BCY
NI OR
NI CP
NI MMK
NI FRN
NI MTN
NI BNK
NI USB
NI NOB

-0- (BN ) Dec/22/2000 21:25 GMT


----- Forwarded by Steven J Kean/NA/Enron on 02/28/2001 02:09 PM -----

	James D Steffes
	02/27/2001 08:21 AM

		 To: Alan Comnes/PDX/ECT@ECT, bhansen@lhom.com, Harry
Kingerski/NA/Enron@Enron, hgovenar@govadv.com, Janel
Guerrero/Corp/Enron@Enron, JBennett@GMSSR.com, Jeff Dasovich/NA/Enron@Enron,
jkradin@marathon-com.com, Joe Hartsoe/Corp/Enron@ENRON, John
Neslage/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Karen Denne/Corp/Enron@ENRON,
Linda Robertson/NA/Enron@ENRON, Mark Palmer/Corp/Enron@ENRON, Mary
Hain/HOU/ECT@ECT, mday@gmssr.com, Paul Kaufman/PDX/ECT@ECT,
rcarroll@bracepatt.com, rlichtenstein@marathon-com.com, Richard
Shapiro/NA/Enron@Enron, Sandra McCubbin/NA/Enron@Enron,
syamane@marathon-com.com, SGovenar@govadv.com, Steven J Kean/NA/Enron@Enron,
Susan J Mara/NA/Enron, Michael Tribolet/ENRON@enronXgate
		 cc: Kathryn Corbally/Corp/Enron@ENRON
		 Subject: Wall Street's Opinions on Transmission Deal in CA

I am forwarding some Wall Street comments from Kathryn Corbally related to
the Transmission buyout.

Looks like they view it as very favorable - not a major hit against EPS tied
to full recovery of remaining undercollection.

Not sure yet if they incorporate the going forward - maybe SCE doesn't want
any merchant obligations?

Jim

----- Forwarded by James D Steffes/NA/Enron on 02/27/2001 08:18 AM -----

	Kathryn Corbally
	02/26/2001 04:47 PM

		 To: James D Steffes/NA/Enron@Enron
		 cc:
		 Subject: CaliforniA

Jim, Have sent you three notes that show some level of support to activity in
California
- its probably a little bias since there are a few reports out there that say
quote the 'devil is in the details' and quote
'the odds of bankruptcty remain in the 50% range.'

Note1
09:42am EST 26-Feb-01 ABN AMRO Inc. (Ford,Daniel F. 212/258-1548) CPN DYN EIX
One Down Two to Go

One Down Two to Go
ABN AMRO -- Research Notes
Subject: Power
Companies Mentioned: CPN, DYN#, EIX, PCG, SRE

Analyst:  Daniel F. Ford, CFA  212/258-1548
          Po Cheng, CFA  212/258-1709
==============================================================================
=
Date:     February 26, 2001
------------------------------------------------------------------------------
-
Highlights:
-  On Friday (2/23), Governor Davis triumphantly announced that the State of
   California and Edison International had reached an agreement in principle
   for the sale of its electric transmission system as part of a financial
   recovery package. He also commented that "good progress" was made with
   Sempra Energy and "some progress" with PG&E Corp.
-  The preliminary terms of the agreement call for the State to buy Edison's
   transmission system for approximately $2.76 billion (2.3x estimated book
   value) and allow for the securitization of "a substantial portion of its
   undercollection".
-  In exchange, Edison would: 1) make payments of approximately $420 million
   to its utility subsidiary, Southern California Edison; 2) commit the
entire
   output of an Edison Mission project at cost-based rates for 10 years; 3)
   provide cost-based rates from native generation for another 10 years; 4)
   give conservation easements on 20,000 acreas of watershed lands for 99
   years; and 5) drop a pending lawsuit against the California Public
   Utilities Commission.
-  We view this agreement as a positive development. Based on the 2.3x
   purchase price, the EPS hit from the loss of the transmission lines would
   be approximately $0.10 lower than our worst case estimate (at 1.5x) of
   $1.90 . The agreement, however, is not final and additional details need
to
   be worked out before being submitted to the legislature.
-  Events to watch over the next couple of weeks include: 1) a definitive
   agreement with Edison; 2) deals with PG&E Corp. and Sempra Energy; 3) a
   package that the legislature can accept (which could include concessions
   from generators); and 4) terms that are acceptable by the FERC.
-  In our opinion, the proposed deal is reasonable for EIX shareholders and
   renews the hope for a resolution to the crisis. While our optimism is
   tempered by the shortening timeframe, we are encouraged by the governor's
   recent statements, which have been more positive than negative. As such,
we
   maintain our Buy ratings on Edison International and PG&E Corp as well as
   on the generation companies: Calpine and Dynegy.

Other News:
In other related news, on Friday (2/23) Edison announced that all of its banks
have agreed to extend their forbearance until March 14.

Note 2

05:16pm EST 26-Feb-01 Goldman Sachs (NEWYORK) EIX PCG ACTION
EIX agrees to deal in principle with Gov Davis.PCG still negotiating.Buy
EIX...

                 Goldman, Sachs & Co. Investment Research

EIX agrees to deal in principle with Gov Davis.PCG still negotiating.Buy EI

*  On February 23, EIX and Governor Davis reached an agreement in principal
   in which the state would agree to buy the transmission grid and allow
   for recovery of a 'substantial portion' of unrecovered cost in return
   for EIX refunding money from its parent to the utility and dropping
   pending litigation.  This settlement appears to be a  reasonable 'shared
   pain' scenario and is consistent with the 'buyout vs. bailout'
   structure we have been anticipating. To be enacted the deal needs to be
   finalized and approved by the EIX board and the California Legislature.
   FERC also must approve the asset sale.
*  EIX agreed to sell a portion of its electric transmission system to the
   state of California for $2.76 billion and transfer $420 million cash to
   its utility subsidiary from the parent.  In return, the state would
   allow EIX to recover a substantial portion of its under-collected power
   costs and drop pending litigation in which the company is pursuing rate
   hikes.  If approved by the EIX board and California legislature this
   agreement, in concert with passage of ABX1-1, would eliminate the
   overhang that has depressed EIX shares.
*  Although dependent on several factors, we believe the net impact on
   earnings from the settlement will not be as high as the current EIX
   stock price implies.  We believe post-settlement EPS in 2002 will likely
   total at least $2.00/share, which supports a conservative valuation of
   $20 share (10X '02 EPS, a 20% valuation discount to the peer group).
*  Also late last week, PCG issued a press release indicating they had met
   with the Governor, had submitted proposals, and discussions were
   ongoing.  With the framework already established for EIX, we expect a
   PCG settlement could be announced in the near future. PCG's negotiating
   flexibility is limited relative to EIX because their generation rates
   are lower, their under-recovered balance is higher, and the potential
   cash 'refund' from parent to subsidiary being requested by the
   government is probably larger.
*  PCG's transmission system has a book value of roughly $1.5 billion.  At
   2.3X book value, these assets could potentially be worth $3.5 billion.
   Assuming a parent company to utility cash transfer proportional to the
   one proposed for EIX, we estimate PCG would refund $780 million. PCG's
   stock price also reflects an earnings impact more punitive than implied
   by a settlement of this nature. We believe a deal like this would
   support post-settlement EPS of at least $2.50/share which supports a
   conservative valuation of $25/share (10X '02 eps, a 20% valuation
   discount to the peer group).
*  Because EIX has a 'deal in principle' the stock is trading at a premium
   to PCG despite having lower potential 2002 earnings power. Those
   investors who believe PCG will strike a deal that is similar in
   structure and proportional to EIX's settlement should purchase PCG over
   EIX at this juncture.

NOTE 3

09:17am EST 26-Feb-01 Merrill Lynch (S.Fleishman (1) 212 449-0926) EIX PCG
UTILITIES-ELECTRIC:California: One Goes Forward, But Need All Three

    ML++ML++ML     Merrill Lynch Global Securities Research     ML++ML++ML
                             UTILITIES - ELECTRIC
                California: One Goes Forward, But Need All Three
                      Steven I. Fleishman (1) 212 449-0926
Reason for Report:  Governor reaches preliminary agreement with Edison; PG&E
up
in the air; Need all 3 utilities to move forward

Investment Highlights:
o    On Friday, Governor Davis announced a preliminary agreement with Edison
International (EIX; D-2-2-9; $14.69) on a financial resuscitation plan.  The
plan follows the basic framework previously outlined by the Governor.

o    The state will purchase Edison's transmission assets for $2.76B, or 2.3x
book value.  This would help pay off some of Edison's net $4.1B of
undercollections (a number agreed upon with the Gov.)  The remainder will be
recovered through a bond financing tied to a dedicated rate component to be
carved-out of Edison's rates.

o    In exchange, Edison will agree to: 1) Drop the lawsuit against the PUC,
2)
Invest $420M back into the utility from the parent, representing tax
overcollections , and 3) Sell power from its hydro and nuclear assets at cost-
based rates for the next 10 years.  Edison also agreed to sell power from its
unregulated Sunrise plant, currently under construction, at cost-based rates
for 10 years.

o    A number of uncertainties remain in Edison's deal, and it is still
preliminary.  The exact terms and language will be very important,
particularly
given the need to issue securitization bonds.  It is impossible to provide
exact earnings guidance based on this deal, but the only loss of earnings
power
would appear to come from lost transmission earnings (-$0.20-$0.25/share) and
potentially lower generation earnings depending on the terms of cost-based
rates.

o    This is a significant step forward for Edison and the resolution of the
CA
power credit crisis.  However, it could be for naught if the other utilities
cannot work out deals.  We believe Sempra Energy (SRE; B-2-1-7; $22.10) is
relatively close, but PG&E's (PCG; D-2-2-9, $13.70) talks were flailing last
week.  We continue to see little chance that this plan can move forward and
pass through the legislature unless all the utilities are on board.

o    We believe PG&E is willing to work a deal within this framework.
However,
the simple problem is that PCG's undercollection numbers are much bigger.  At
YE 2000, PCG's net undercollection was more than $5B and we believe this may
have reached $7B by the end of January.  Selling the transmission for 2.3x
book
would provide only $3.5B, leaving the other half to be recovered though the
dedicated rate component/securitization.  It may be that the only way the
numbers can work is with a rate increase.

Despite the significant hurdles that remain, we believe the momentum toward a
constructive outcome is improving.  To that end, we maintain our Accumulate
ratings on EIX and PCG for high rate accounts.


Please see attached draft of the master.  A copy of same has been placed in
the mail.  Please let me know if you have any question regarding same.

DP


Everyone,

You probably have already heard on the news that there is a new Computer Virus out on the internet that is causing Corporations to experience numerous problems.  We have an automated process to update our workstations with the latest virus protection updates.   However, there may be some machines that didn't get the update.  In order to prevent this virus from infecting your machine, please assist by doing one of the following tasks.

1.  Logout of the network and log back in or
2.  Click on START>PROGRAMS>ACCESSORIES>Norton AntiVirus Corporate Edition and then click the Live Update button.  This will pop up a screen where you will have to click the "Next" button and then a "Finish" button.

The proper version of the update pattern you need is:   (9/18/2001, version 30918v)

If you have questions or concerns, please direct them to your Resolution Center.

Enron Global Technology


Tana,
Please send an LOI regarding broker client to Javier Loya at Choice Energy.
The LOI is for Natural Gas Financial Products, $200,000 for one year.

Javier Loya
Choice Energy Ltd.
5718 Westheimer, Suite 1300
Houston, Texas 77057
EJL@choiceenergy.com.

Thanks,

Dan


Please find attached the most recent update for Merchanting Metals.

In summary the planned systems changes and manual substantiation efforts are
behind schedule. Additional resources are being allocated and the situation
is being closely monitored ( both for quarter end signoff and on going
operations ).

Please contact me if you require any additional information

Mike

---------------------- Forwarded by Mike Jordan/LON/ECT on 04/04/2001 13:59
---------------------------

Mike Jordan
03/04/2001 16:29
To: John Sherriff/LON/ECT@ECT, Michael R Brown/LON/ECT@ECT, Joe
Gold/LON/ECT@ECT, Michael Farmer/EU/Enron@ENRON, Michael J
Hutchinson/EU/Enron@Enron, Paul Freeman/EU/Enron@Enron
cc: Fernley Dyson/LON/ECT@ECT, Andrew Cornfield/LON/ECT@ECT, Howard
Carter/EU/Enron@Enron, Nigel Grace/EU/Enron@Enron, Mark Pickering/LON/ECT@ECT

Subject: Merchanting Metals Update #2

The intention of the efforts and actions documented in my earlier update (
see attached email ) was to provide
a robust position signoff process for total metal tonnage, spread and brand
and location
a timely substantiation of
stock on balance sheet
forward MTM
debtors and creditor balances
OBSF transactional values and a reconciliation of the barclays intercompany
account

Despite the best efforts of IT, continuing problems with the AS400
application, a better understanding of the inconsistency between stock
reconciliation reports, and concerns over the useability of the outright
stock screen enquiry are such that I am currently not confident of delivering
sufficient accurate information to AA to satisfy their audit requirements -
which at a macro level is the transparent audit trail between stock and
forward positions to full accounting values.

Consequently I need to inform you of, and/or require your approval for, the
following :

I will discuss with AA the following
that OBSF values within the extended trial balance may be misstated due to
data issues ( above and beyond existing conversations with AA on model
simplifications)
that there are reconciling differences between trader position analyses,
AS400 on screen enquiries and the formal global position report ( these
differences are at present not understood but would need to be provided to AA
within the audit timetable)
an outline of the internal balance sheet review process described in my
earlier note which must now be reprioritised and rescoped ( see MO work )
The creation of an incentive payment pool ( possibly via personal best awards
) for key Metals staff who continue to work exceptionally unsociable hours to
meet the above stated objectives
The signoff for additional permanent 'Enron' headcount who will 'duplicate'
certain key position control processes ultimately replacing some existing
Traffic staff
A reconciling difference of $15mm exists between the reported DPR and the
final accounting p&l as generated on the AS400. We will continue to
investigate potential misstatements in the system p&l, as a result of data or
system valuation problems, within the month end reporting timeframe. However,
this difference may need to be adjusted for following a final review and
signoff of system p&l values with traders.
The recall of all OBSF stock in early April and retention on balance sheet (
reduced where economically viable ) until positions are fully reconciled and
repeatable daily signoff process can be instigated.

Middle Office work being prioritised is as follows
the stock circularisation initiated for close of business 23 rd - with full
reconciliation of returns to current system data by traffic/co-ordination
an audit of the stock and forward valuation report for the 30 th ( replacing
planned 23 rd review due to system issues ), requiring
full download of contract detail for later reference
reconciliation of stock movements between 23 rd and 30 th
sample tests of vanilla forward transactions
detailed position analysis of all OBSF contracts that must be reconciled to
Barclays documentation
spreadsheet recalculation of OBSF option premium utilising the above manually
created position analysis
the circularisation of Barclays intercompany account and comparison to our
cut off and substantiation analysis
the debtors/creditors partial circularisation initiated for close of business
23 rd

I will be in touch directly re the items needing approval

Regards

Mike
---------------------- Forwarded by Mike Jordan/LON/ECT on 29/03/2001 20:51
---------------------------

Mike Jordan
21/03/2001 18:20
To: John Sherriff/LON/ECT@ECT, Michael R Brown/LON/ECT@ECT, Rick
Buy/Enron@EnronXGate, Richard Causey/Corp/Enron@ENRON, Ted
Murphy/LON/ECT@ECT, Sally Beck/HOU/ECT@ECT
cc: Fernley Dyson/LON/ECT@ECT, Joe Gold/LON/ECT@ECT, Michael
Farmer/EU/Enron@ENRON, Michael J Hutchinson/EU/Enron@Enron

Subject: Merchanting Metals update

Several related issues have resulted in an increase in the level of operating
risk for the Merchanting Metals business.

Complexities surrounding the operation of the Off Balance Sheet Facility
("OBSF") which commenced two weeks before the year end.
The uncertainty generated by the revocation of AA's signoff for the facility
late in the year end audit.
The discovery of a number of 'bugs' within the AS400 Merchanting code,
arising from the release of OBSF designed functionality, which compounded the
operational burden of supporting the OBSF.
The requirement to amend the operational process and OBSF IT code as a result
of the current renegotiation of the OBSF with Barclays ( and AA ).
The senior IT developer for Merchanting has resigned and been sent on
gardening leave.
The Corporate requirement to lower working capital usage for the Merchanting
business irrespective of the above parochial business issues.

Various mitigating actions have been and will be taken to provide focus, gain
comfort over control levels and to provide assurance to senior management as
to the accuracy of the Q1 DPR and business balance sheet.

The implementation for SAP for the Merchanting business has been delayed and
effectively decoupled from the higher risk ( higher benefit ) Brokerage
implementation - benefit is to provide sole focus on OBSF for IT Merchanting
developers.
The AR/AP SAP data quality reviews for both businesses are continuing so as
to provide a detailed analysis as at end Q1.
Middle Office have instigated a new daily working capital report process
tracking cash settlement/ funding data to working capital components for all
Metals businesses.
An enhanced position signoff process will be implemented prior to end Q1
covering gross tonnage, spread positions and summarised analyses for brand
and locations. The necessary report functionality should be available within
the AS400, however contingencies have been initiated to build tactical
VBA/excel reports outside of the AS400 but using AS400 data downloads.
User requests for additional AS400 functionality and reports have been
aggressively prioritised and a code freeze will commence prior to the end of
Q1 following the delivery of three reports determined as minimum requirements
for the support of OBSF.
A resubstantiation of the full Q1 DPR will be completed by the Risk control
staff reconciling the full trial balances between Q1 open and Q1 close
A full internal balance sheet review will be completed within the Q1 audit
timetable which incorporates
A full circularisation of inventory balances, and matching to source
documentation within Enron
Inspection of certain of the above inventory balances, by third party
inspectors, where there is an expectation that circularisation replies will
not be received on a timely basis
Substantive checks back to source contract documentation for the forward
priced and unpriced positions report ( spot checking the key position report
signed off by the traders )
Full reconciliation and recalculation of OBSF option premium values
Full reconciliation of contracts within the OBSF to Barclays documentation (
thereby substantiating existence of stock that we have option to purchase )
and to AS400 Barclays account
A risk based debtors review - matching to source documentation, where
applicable, and any subsequent post quarter end cash movements
A full substantiation of creditors to internal ( contract commitments ) or
external documentation ( invoices/request for payment )
A full reconciliation of intercompany accounts
A full substantive reconciliation of cash and funding accounts

I intend to provide weekly updates on the status of the above actions during
April

If you have any questions please call me on x34703

Regards

Mike


Nice job.  Only comment is that the crazies in California now find market
power under every rock and in every pipeline.  I think there's a chance that
someone might assert that 20% share equals market power.  Might want to say
"significant supplier" or something similar.  No big deal, but I thought I'd
flag it for your consideration.

Best,
Jeff


I heard your dad had surgery....hope both of you are doing OK.....

Dan
--------------------------
Dan Lyons


no chip, no money
 -----Original Message-----
From: 	Parks, Joe
Sent:	Wednesday, March 27, 2002 9:39 AM
To:	Sewell, Doug
Subject:	Duke Field Services

Doug,  money! yes?


Sorry, I left you off the original list.

Thanks,
Wanda
---------------------- Forwarded by Wanda Curry/HOU/ECT on 03/09/2000 06:23
PM ---------------------------

Wanda Curry
03/09/2000 06:22 PM
To: Michael E Moscoso/HOU/ECT@ECT, Wes Colwell/HOU/ECT@ECT, Barry
Pearce/LON/ECT@ECT
cc:
Subject: Prudency

Please see the attached draft prudency policy and prudency schedule.  Barry,
I need your comments ASAP.   I am in meetings until around 11:00 tomorrow.
I don't think we can argue that we no longer need prudency without it being a
change in accounting policy.  This years Annual Report FN-3 stills contains
the following statement:

  The values are adjusted to reflect the potential impact of liquidating
Enron,s position in
  an orderly manner over a reasonable period of time under present market
conditions.

I think the best we can argue is 1)that the liquidity in some commodities
(gas for U.S. and maybe power for U.K.) has increased to a level that
prudency is no longer required and 2)setting a minimum level of VAR before
prudency is required are not a wholesale change in our accounting policy.

I have not attempted to address establishing an operational reserve.  I think
the two are separate, but no reason why we can't create one this quarter.

Wes, I need to get with you to determine what ENA would like to do.  The
earnings situation may be different than expected.  ENA has taken a large
amount out of prudency (see the attached schedule).  We can probably argue
for that release to be reduced, pending complete research on power liquidity
and implementation of the new RAC calculation.  I obviously will not hold any
discussions with AA.

Let me know what the next steps are.  I will be waiting to hear from you both.

Wanda


Hi, Edmund!

Can you help me obtain copies of some of your executed documents with BNP?  I need copies of the following:

1.	ECTRIC/BNPP ISDA

2.	Enron Credit Limited/BNPP ISDA

3.	ECTD /BNPP physical UK gas confirm (representative sample)

I hope you know who ECTD is cause I sure don't.  I am only assuming that because it's UK gas, it's a UK company.

My fax is (713) 646-3490.

Thanks for your help!

Marie


In case you need to reach someone in IR or PR, here are 24-hour numbers.

 -----Original Message-----
From: 	Radford, Pat
Sent:	Thursday, November 08, 2001 4:50 PM
To:	Kean, Steven J.
Subject:	PR/IR Contact List


Here's an attempt at some key "lessons" from CA to the UK (or vice versa as
the case may be).  Actually they are more themes/differences/comments coming
out of the CA experience, which will need tailoring/trimming down to fit the
context of the actual presentation.  As I've indicated, depending on the
point being presented, there may be a need for some caution in using the
examples in too simplistic a context.

? Barriers to generator entry.
? Apart from the moratorium, it has been relatively easy to gain consent to
construct new generation in the UK.  This is clearly a good thing in itself,
but there are some potential pitfalls in just asserting this.  The entry has
been criticised as unecessary in a market with significant overcapacity
(indeed this was one of the justifications for the moratorium) and had
surprisingly little impact on price for at least the first 8 years of the
Pool. Indeed prices only fell once NP/PG divested plant.  Hence it would be
easy to retort that new capacity was not required in the UK, the entry that
did occur was wasteful and that the CA analogy is bogus (although clearly the
full story is more complex than this)
? Moratorium had a significant impact on investment and stalled competition.
(True, but difficult to sustain given that divestment and pre-committed new
entry ensured that prices fell significantly before the moratorium was
lifted.)
? Danger that measures designed to meet the CHP and Renewables targets
constrain future developments and lead to capacity shortages, ie, perfection
should not be the enemy of the good.  This is not the case currently.
However, new applications must demonstrate that CHP has been fully explored -
if this hurdle acquires real teeth (or turns into something more formal) then
we could see easy consents getting significantly more difficult.  This is,
however, largely speculation at the current time.

? Retail caps
? Purchase costs could be passed through in UK (for at least the first 8
years).  Although some purchase costs were pseudo-regulated (through the
vesting contracts and their replacements),  the Public Electricity Suppliers
also purchased power from CCGTs in which they also took equity at very high
prices.  (Teesside was one of the first examples of this.) The cost of this
was passed through to franchise customers.  This was widely criticised and
although the regulator allowed this to happen (on the grounds of entry
promoting competition), the fact that all the entry was baseload and NP/PG
still controlled the marginal plant meant that wholesale market prices didn't
change at all.
? Since 1998, prices caps have been instituted and have not been a problem.
Although the caps squeezed the PES margins, they could contract forward to
hedge the risk of wholesale price movements.  Morever, the price caps have
actually reduce wholelsale prices - generator market power meant that the
wholesale price was, in part, a net-back from the allowed retail tariff.
? Watch out for Independent Energy, a supplier who did go bankrupt.  This was
due to a combination of being under-hedged when power prices rose and not
having adequate infrastructure to bill customers and get the cash in.

? Competition
? Generator concentration meant excessive prices for the first 8-9 years of
the Pool.  Restructuring and divestment was essential to realising the
benefits of competition.
? Retail competition has been very successful and has been a key driver in
increasing liquidity in the wholesale market

? Stranded Costs
? Stranded cost recovery largely didn't distort the market, eg, nuclear levy,
vesting contracts did not affect marginal decisions.  (That said market power
provided a very soft landing and the market was clearly stitched up to meet
the needs of the miners for years.)

Hope these help.  Please let me know if you need anything further.

Cheers,

Paul


I don't have the consumer forms you reference.  I assume those were sent to
Jeff, is that correct?  Could you please resend.  Let's set up a call for 2
p.m. this afternoon and discuss the other items.  If that time does not work,
let me know what would.  Thanks.

Jeremy Meier <jermeier@earthlink.net> on 03/02/2001 06:52:52 PM
To: MPetroch@enron.com
cc: stevebowen@earthlink.net

Subject: CA ETI tariff(s)

Mona:

Attached are 2 versions of the CA tariff(s) - one has redlines and the other
is clean.? We have included the new national ETI template service
descriptions and terms, as well as California specific regulatory language.

You will recall that we originally filed "placeholder" tariffs with the ETI
CPCN, which were approved with certain required modifications, and these new
tariffs will now be ETI's "Initial Tariff" filed at the CPUC.?? Subsequent
revisions and updates can be made via Advice Letter.

ETI can make the time and materials, special construction, and collo sections
"ICB", though we are unsure why ETI would want to include collo in the tariff
- this is an item you can discuss with Steve and me. Also, the new "early
termination" contract language appears unusual, given especially that your
written contracts would cover this, and that an otherwise "verbal" contract
would be unenforceable.? It is thus not necessary to include the new contract
termination terms in the California tariff.

Items for discussion before filing include:

There is standard early termination protection language in the tariff, and
the new terms may not be necessary;
We still need to establish (high) rates for the transport services, and
insert the figures.
Does ETI want to keep collo in the tariff?
We need ETI's operational approval for the Consumer forms previously sent.
(The Consumer forms must be attached to the tariff).

Please feel free to let me know any questions over the weekend - I can be
reached via office voice mail or cell phone (609-2210).? Otherwise we should
talk on Monday morning before filing.? Thanks,

Jeremy Meier
B&C
 - MonaPCaliftariff(clean).doc
 - MonaPCaliftariff(redlined).doc


Here is the sound system proposal.
References:
Oak Forest Elementary
Betty Pollard   (281) 442-6236 PH.

Burbank Middle School
Dr. Charlotte Parker  (713) 696-2720 PH.


Hello Paul and Mark.  FYI:  CIG proposes to construct and operate facilities necessary to transport additional volumes of approximately 55 MDth per day of natural gas out of the Raton Basin Area in Colorado and New Mexico.

The total cost of the project is $26,896,800  with a proposed rolled-in treatment for the expansion out of the Raton Basin Area.

Question - Do you all have any issues that you want us to address in regards to the expansion or will a plain vanilla intervention be fine?  The intervention is due Nov. 5th.

If you could get to me between now and the early part of next week, that would be great.

Melinda


here it is


Information Management Weekly Milestones Report ) 02/02/01

Portal.
? The list of HR employees to receive the IM Portal Survey is pending
approval.  HR is delayed because of compensation responsibilities.  Temporary
delay will not impact pilot deliverables.

? The technical team is creating portal templates for the respective Business
Units/Functional Units.  Each template will reflect BU/FU content, a similar
&look and feel8, a dynamic technical platform (a platform which can be easily
updated), and a secure platform (a platform which reflects the latest single
sign on effort).

? The production server for the portal is being built.

? myhome.enron.com is being targeted as the portal name.  Brandon Rigney has
been consulted to provide user experience input and ensure a smooth
transition of current users from the former myhome.enron.com site to the new
best practices IM Task Force myhome.enron.com portal.

? IM Task Force is investigating IT pilot project for single sign-on
application.  The Task Force intends to provide a single sign-on interface
for all applications accessible from portal

Unstructured Data Management/Enterprise Search Engine tool.
? A request has been made for vendors (Autonomy, Verity and Inktomi) to
provide the IM Software Selection Team with a proof of concept evaluation and
customer references.

? The SST is having a challenge getting software prices from all three
vendors.  GSS will be requested to support this effort at this early stage.

? Each of the vendors license their software in a different manner.  Inktomi,
s licenses are based on number of documents indexed, Autonomy,s licenses are
based on number of end users, and Verity,s can be a combination of server
instance and end users.  The inability to accurately predict numbers of
documents, users, and server instances makes a side-by-side comparison
difficult.

? The SST is continuing to work on the software evaluation report.  Customer
feedback and pricing will be incorporated as it becomes available.

IM Strategy Proposal.
? Momentum from the pilot phase of this project is needed for the delivery
stage ) the stage where we take what we have developed for a pilot and bring
it to Enron corporate-wide.  To do so, an IM executive coordinator needs to
be identified ASAP.

? Allan Sommer is meeting with Price Waterhouse and Ernst & Young and will
collect information on Knowledge/Information Management.

? Although this project has task force accountability and timelines, no one
executive has accountability for the budget.  True accountability lies within
the organization which has a defined, approved budget for the project.

? Information presented at last week,s Analyst meeting appears to support the
need for a formalized, executive sponsored IM program.

? The IM Task Force is meeting with EES next week to discuss the information
released at the analyst meeting.


NEWS FLASH!!!!

The Supreme Court of the United States has ruled that there cannot be a
nativity scene in Washington, D.C. this Christmas. The Court ruling is not
based on the seperation of Church and State  Simply put, the  Court felt it
could not find three wise men and a virgin in the Nation's capitol. Finding
enough Asses to fill the stable would not be a problem.


----- Forwarded by Mark Taylor/HOU/ECT on 09/01/2000 09:17 AM -----

	John Viverito@ENRON
	09/01/2000 03:49 AM

		 To: Mark Taylor/HOU/ECT@ECT
		 cc: Jonathan Whitehead/AP/Enron@Enron
		 Subject: Re: Fw: IBJ ISDA MASTER AGREEMENT

Hi Mark-

We have received the red-lined ISDA schedule from IBJ, with some additional
comments/questions.  They are looking to have a response prior to the "US
holiday".  As you will see below, I said we'll try.

Thanks,

John
----- Forwarded by John Viverito/Corp/Enron on 09/01/2000 02:49 AM -----

	John Viverito
	09/01/2000 02:48 AM

		 To: "Yamato Konishi" <yamato.konishi@ibjbank.co.jp>
		 cc: hirohide.yabuki@ibjbank.co.jp, Jonathan.Whitehead@enron.com,
kazunobu.maeda@ibjbank.co.jp, teruyo.suzuki@ibjbank.co.jp,
Tom.Bruce-Jones@enron.com
		 Subject: Re: Fw: IBJ ISDA MASTER AGREEMENT

Dear Mr. Konishi-

Thank you for your comments.  We will attempt to respond to you prior to the
holiday in the US, but if we are unable to do so, we will respond shortly
thereafter.

Best regards,

John Viverito

	"Yamato Konishi" <yamato.konishi@ibjbank.co.jp>
	09/01/2000 02:31 AM

		 To: <John.Viverito@enron.com>
		 cc: <Jonathan.Whitehead@enron.com>, "Tom Bruce-Jones"
<Tom.Bruce-Jones@enron.com>, "teruyo.suzuki" <teruyo.suzuki@ibjbank.co.jp>,
"Maeda san" <kazunobu.maeda@ibjbank.co.jp>, "hirohide.yabuki"
<hirohide.yabuki@ibjbank.co.jp>
		 Subject: Fw: IBJ ISDA MASTER AGREEMENT

Dear Mr.Viverito

Attached Word file is ISDA draft amended by our legal desk.
(please take the amended points as our comment on your draft)
Please check it all and kindly reply ASAP.
(CSA is not acceptable as I mentioned you before, and we'll check your
LETTER OF CREDIT after
the schedule is almost agreed)

In your draft, we cannot understand the meaning of "EDGAR" on page4,
so please show us what it is.

We are very hoping to conclude this process rapidly.
So, I very much appreciate it if you could send back your comment before
Holiday in U.S.(4th Sep)
(it's ok if only the rough prospects of concluding ISDA)

Best regards,
Konishi IBJ Tokyo
81-3-3214-1008
----- Original Message -----
From: "Teruyo Suzuki" <teruyo.suzuki@ibjbank.co.jp>
To: "Yamato Konishi" <yamato.konishi@ibjbank.co.jp>
Sent: Friday, September 01, 2000 3:58 PM
Subject: Re: IBJ ISDA MASTER AGREEMENT

> ISDA DraftI_X"?,d`-t,?,?,?,?,?_B-?-O
> ----- Original Message -----
> From: "Yamato Konishi" <yamato.konishi@ibjbank.co.jp>
> To: <John.Viverito@enron.com>
> Cc: <Jonathan.Whitehead@enron.com>; "Tom Bruce-Jones"
> <Tom.Bruce-Jones@enron.com>; "teruyo.suzuki"
<teruyo.suzuki@ibjbank.co.jp>;
> "Maeda san" <kazunobu.maeda@ibjbank.co.jp>
> Sent: Wednesday, August 30, 2000 9:59 PM
> Subject: Re: IBJ ISDA MASTER AGREEMENT
>
>
> > Dear Mr.Viverito
> >
> > Thank you very much.
> > Now we start checking your draft and maybe we can return comment on this
> > Friday.
> >
> > Please be advised following points at this time.
> > 1)Part 6 on the schedule is needed to be deleted.
> >   We think that it's enough if the terms in Part 6 are referred in the
> > individual confirmation.
> > 2)ISDA Credit support annex is not acceptable
> >   Unfortunately, we don't have internal system for concluding CSA with
> > non-financial entity.
> >
> > Please keep support us for concluding ISDA ASAP for our business in near
> > future.
> > If any question, please feel free to contact me.
> >
> > Best regards,
> > Konishi /IBJ Tokyo 81-3-3214-1008
> > ----- Original Message -----
> > From: <John.Viverito@enron.com>
> > To: <yamato.konishi@ibjbank.co.jp>
> > Cc: <Jonathan.Whitehead@enron.com>
> > Sent: Wednesday, August 30, 2000 5:31 PM
> > Subject: IBJ ISDA MASTER AGREEMENT
> >
> >
> > > Dear Mr. Konishi,
> > >
> > > Attached hereto, is the draft ISDA documentation, for your review.
> > > Included are the Schedule, the Credit Support Annex and the Enron
Corp.
> > > Guaranty.
> > >
> > > I apologize for the delay in the preparation and distribution of these
> > > documents.
> > >
> > > We look forward to receiving your comments.
> > >
> > > Best regards,
> > >
> > > John Viverito
> > >
> > >
> > > (See attached file: IBJ Schedule 30.08.00.doc)(See attached file: IBJ
> CSA
> > > 30.08.00.doc)(See attached file: IBJ EC guarantee 30.08.00.doc)
> >
> >
>

 - IBJ Schedule 31.08.00.doc


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Please forward this to anyone who might benefit from a better
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PGS Energy Training
412-279-9298


What about 9:30. I have a dentist appointment at 7:45 but I should get to the
office by 9:30.

Vince

From: Stephen Stock/ENRON@enronXgate on 01/24/2001 10:04 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: RE: FW: Re: Valuation

Vince,

gosh this is hard work!!!.... who would be an assistant eh?

I meant that I was free between  8 and 10am!!! at 10am I'm in Beth's Staff
meeting.

regards

Steve

 -----Original Message-----
From:  Kaminski, Vince
Sent: Wednesday, January 24, 2001 9:49 AM
To: Stock, Stephen
Subject: RE: FW: Re: Valuation

Steve,

What about coffee at 10, Thu?

Vince

From: Stephen Stock/ENRON@enronXgate on 01/24/2001 09:41 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc: Giselle James/ENRON@enronXgate
Subject: RE: FW: Re: Valuation

Vince,

I'm free between 8-10 and 3-6pm on Thursday,

regards

Steve

 -----Original Message-----
From:  Kaminski, Vince
Sent: Wednesday, January 24, 2001 9:39 AM
To: Stock, Stephen
Subject: RE: FW: Re: Valuation

Steve,

What about Thu?

Vince

From: Stephen Stock/ENRON@enronXgate on 01/24/2001 09:11 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: RE: FW: Re: Valuation

I'll be in a Visioning session all afternoon offsite, so this morning would
be better if you are available....

regards

Steve

 -----Original Message-----
From:  Kaminski, Vince
Sent: Wednesday, January 24, 2001 9:00 AM
To: Stock, Stephen
Cc: Kaminski, Vince
Subject: RE: FW: Re: Valuation

Steve,

I was delayed on my wait out. I probably hit the stop at
6:15.

Let me buy you a coffee this afternoon. What about 2:00?

Vince

From: Stephen Stock/ENRON@enronXgate on 01/24/2001 08:13 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: RE: FW: Re: Valuation

Vince,

I was at the bus-stop from 5:50 to 6:10 ish, assumed you had been delayed and
jumped on the next Research Forest bus that came along.

I hope you didn't wait around for me?

regards

Steve

 -----Original Message-----
From:  Kaminski, Vince
Sent: Tuesday, January 23, 2001 5:28 PM
To: Stock, Stephen
Subject: Re: FW: Re: Valuation

Steve,

Around 6:00 p.m.

Vince

From: Stephen Stock/ENRON@enronXgate on 01/23/2001 05:26 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: FW: Re: Valuation

Vince,

I'm in all this week.....what time are you going for the bus tonight?

regards

Steve

 -----Original Message-----
From:  stevestock@pagenetips.com@ENRON
[mailto:IMCEANOTES-stevestock+40pagenetips+2Ecom+40ENRON@ENRON.com]
Sent: Tuesday, January 23, 2001 4:42 PM
To: Stock, Stephen
Subject: fwd: Re: Valuation

------
From: Vince Kaminski <Vince.J.Kaminski@enron.com>
Subject:Re: Valuation

Steve,

Please, let  me know when you come back.

I have detected a tendency to implement different

approaches to valuation in the past.

To some extent, it reflects the absence of formal

rules for sign-off on the valuation techniques

which, in turn, reflects,  the turf wars and the desire by the

originators to control the outcomes.

Vince

stevestock@pagenetips.com on 01/19/2001 06:53:14 PM

To:   vince.j.kaminski@enron.com

cc:

Subject:  Valuation

Vince,

I'd like an opportunity to talk to you about valuation.

I'm hearing confusing messages about the way that the UK IT team and the UK

traders get their Valuation code aparently signed off by Research, while

here... You provide it for our guys to wrap up.

We have now a situation where the UK team are using a home grown Valuation

piece called DOVE, where results differ from those of the equivalent USA

portcalc.

I need to break through the pride barriers and the "not built here"

syndrome, and try to do the right thing, but I don't beleive I can do that

without you guidance.

I'm scared that if we diverge too much we will never work globally on these

systems.

Steve

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

Tel: 713-345-8980

Cell: 281-541-1862

Page: stevestock@pagenetips.com

Steve
------------------------
Tel: 713-345-8980
Cell: 281-541-1862
Page: stevestock@pagenetips.com


--------- Inline attachment follows ---------

From:  <"Brent Friedenberg Associates Ltd." <bfa@bfa.com>@ENRON>
To: Western US <bfa@bfa.com>
Date: Wednesday, November 7, 2001 7:20:12 GMT
Subject:

--------------------------------------
Brent Friedenberg Associates
1052 Memorial Drive NW
Calgary, AB
Canada T2N 3E2

(403) 270-0700
(403) 270-0716 (fax)

bfa@bfa.com
www.bfa.com--

 - west200111.pdf

--------- Inline attachment follows ---------

From:  <"Brent Friedenberg Associates Ltd." <bfa@bfa.com>@ENRON>
To: CNGF <bfa@bfa.com>
Date: Wednesday, November 7, 2001 7:18:35 GMT
Subject:

--------------------------------------
Brent Friedenberg Associates
1052 Memorial Drive NW
Calgary, AB
Canada T2N 3E2

(403) 270-0700
(403) 270-0716 (fax)

bfa@bfa.com
www.bfa.com--

 - cngf200111.pdf
 - mpr200111.pdf


---------------------- Forwarded by Darron C Giron/HOU/ECT on 04/12/2001
10:04 AM ---------------------------

	Enron North America Corp.

	From:  Darron C Giron                           04/11/2001 04:00 PM

To: "Brent Wallace" <bwallace@zahrsecurities.com> @ ENRON
cc:
Subject: Re: FW: Prison Bitch Name Generator

Nipple Nibbler

DG

"Brent Wallace" <bwallace@zahrsecurities.com> on 04/11/2001 02:52:49 PM
To: "James Conlee \(E-mail\)" <jconlee@tradecast.com>,
<brollman@protrader.com>, <darron.c.giron@enron.com>
cc: <joe@gallup.com>, <fallen@zahrsecurities.com>, <chris@savatech.com>
Subject: FW: Prison Bitch Name Generator

What's yo name, biznitch?

 http://members.iglou.com/lyons/bitchGen.html
 <<Oz Prison Bitch Name Generator.url>>

 - Oz Prison Bitch Name Generator.url