FYI
----- Forwarded by Mark Taylor/HOU/ECT on 07/18/2000 09:42 AM -----

	David Forster@ENRON
	07/17/2000 02:34 PM

		 To: Mark Taylor/HOU/ECT@ECT
		 cc:
		 Subject: Argentina PA and ETA

Further background:

Argentina intend to press ahead even given the concern about taxes, etc.

They wish to launch on Sept. 1 - meaning we will need to be sending mailings
sometime around mid-August.

Dave
---------------------- Forwarded by David Forster/Corp/Enron on 07/17/2000
02:34 PM ---------------------------

Leonardo Pacheco
07/17/2000 08:50 AM
To: Mark Taylor/HOU/ECT@ECT
cc: David Forster/Corp/Enron@Enron, Patrick Hansen/SA/Enron@Enron

Subject: Argentina PA and ETA

Mark,

Just wanted to know were we stand on the ETA and PA for Argentina?

Thanks for your help!

Leonardo Pacheco

ext. 39938


Just so that you are aware, we continue to have problems with the financial
confirm process from Houston.  On more than one occasion, confirmations have
been sent to our counterparties prior to review by Calgary.  Attached is the
most recent one.   We have been assured over and over that this will not
happen again, however, it continues to happen.  Luckily, this confirmation
went out without any errors in it.  I know that you are very busy, but  is
there any way that you can make it a priority to get resolution on moving the
financial confirmations to Calgary.
---------------------- Forwarded by Peggy Hedstrom/CAL/ECT on 07/18/2000
02:10 PM ---------------------------

	From:  Larry Joe Hunter                           07/18/2000 01:15 PM

To: Peggy Hedstrom/CAL/ECT@ECT
cc: Diane Anderson/NA/Enron@Enron, Andrea R Guillen/HOU/ECT@ECT
Subject: Re: Financial Confirm NP6050.1

Peggy,

As far as I can tell, we simply screwed up on this deal.  Diane Anderson, who
was covering for Angie last week, was using my name to sign off on some other
Canada deals which were approved from last week then signed and sent this one
by mistake.  We're terribly sorry for the mistake.  Call me if you want to
discuss.

Thanks,
Joe

	Peggy Hedstrom
	07/18/2000 09:55 AM

To: Larry Joe Hunter/HOU/ECT@ECT
cc:
Subject: Financial Confirm NP6050.1

Since Dianne Seib is currently on vacation, I am reviewing the financial
confirms.  For the referenced confirm, the status is currently showing 'Sent
to Counterparty", although our records show that we have not yet approved the
revised confirm.  Can you check on this for me and let me know whether this
was sent prior to receiving Calgary's approval?  If you have any questions, I
can be contacted at ext. 6753.
Thanks
Peggy


I have the tickets, where do you want me to FedEx them?
Ben


Attached please find the interview packet for the above-referenced person.
The interview will happen Friday August 11, 2000.  Please print all three
documents for your hard copies.  If you have any questions, or conflicts of
schedule, please do not hesitate to contact me.

Sean Grady
58701


Hi Theresa, by way of update, I just confirmation from London that we are
going to try our best to finalize the terms of the Agreement by the end of
the day today.  I will keep you posted.

Cheryl Nelson
Senior Counsel
EB3816
(713) 345-4693


the price is fixed.
PL


---------------------- Forwarded by Scott Neal/HOU/ECT on 05/14/2001 02:27 PM
---------------------------

Ken Hoerster <khoerster@askdag.com> on 05/09/2001 11:46:04 AM
To: khwelch@aol.com
cc:
Subject: New On The Market, Great Hunting Ranch, Kinney County, Texas

DOMINION  Advisory Group, Inc.
12330 West Avenue, Suite 204
San Antonio, Texas  78216

New on the market!   Owner says "To Sale"!

Great hunting ranch!

Other ranches in Uvalde County available and will be coming on the market
next week..

We also locate ranches for clients.  Call me to discuss your interests.

LOCATION: Located between Uvalde and Bracketville, in Kinney County.

SIZE:  1,990 +/- Acres

DESCRIPTION: Great hunting and/or recreation ranch, close to San Antonio
and Austin.  This ranch will not last long, good hunting ranches of this
size and quality are hard to find.  Access is from Highway 90.  Partially
high fenced in back.

MINERALS: Seller owns 1/6% of the minerals

TERRAIN: Rolling, brush country with creek bottom

PRICE:  $1,246,525.00   ($625/acre)

COMMENTS: A wet weather creek runs through the ranch, over 1.8+/-
miles of frontage on Highway 90.

CALL FOR FULL INFORMATION PACKAGE

Dominion Advisory Group, Inc., as broker, asserts that the information
contained herein is submitted without representation or warranty.  All
information is subject to error, omission, price change, changes in terms
and conditions, prior sale, withdrawal from the market without notice, etc.

NOTICE - "If you do not want to receive e-mails in the future, please e-mail
TexasRanchFinder@aol.com and your name will be deleted."

Sincerely,

Ken Hoerster
Dominion Advisory Group, Inc.
12330 West Avenue, Suite 204
San Antonio, TX  78216
Office:    210-308-6288, ext. 113
Fax:       210-979-6126
Mobile:   210-859-6256
E-mail:     khoerster@askdag.com
Alternate E-mail:  TexasRanchFinder@aol.com


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 12/12/2000
04:03 PM ---------------------------

Anita DuPont@ENRON
12/12/2000 03:47 PM
To: Vince J Kaminski/HOU/ECT@ECT, Shirley Crenshaw/HOU/ECT@ECT
cc:
Subject: FW: This one is good!

---------------------- Forwarded by Anita DuPont/NA/Enron on 12/12/2000 03:43
PM ---------------------------

"Bratcher, Pat" <pbratcher@mcghouston.com> on 12/12/2000 03:03:53 PM
To: "'Anita.Dupont@enron.com'" <Anita.Dupont@enron.com>
cc:

Subject: FW: This one is good!

?
-----Original Message-----
From: Box, Elizabeth
Sent: Tuesday, December 12, 2000 3:00 PM
To: Bratcher, Pat;  Aycock, Bryan; Childs, Amy; Sommer, Christine
Subject: FW: This one is  good!

?
-----Original Message-----
From: Fogal, Bonita G  [mailto:BGFogal@Unum.com]
Sent: Tuesday, December 12, 2000 2:29  PM
To: 'Christy Schooler A127'; 'Delma Kelley'; 'Gary & Tammmy';  Hogan, Daniel
M; 'Tonya Criner'; 'Alan Smith'; 'Box, Elizabeth'; 'Dave &  Ruth College';
'David College'
Cc: 'Ginnyf702@yahoo.com'; Hamstra,  Janna Lynd; 'Pat Crager'
Subject: FW: This one is  good!

Bonnie Fogal
Account Consultant
Houston/L8
713-706-4740
713-706-4750 -  Fax

It is impossible to smile on  the outside without feeling better on the
inside.

-----Original  Message-----
From:??  RDunaway@guar.com  [mailto:RDunaway@guar.com]
Sent:?? Tuesday, December 12, 2000 12:01 PM
To:???? rdhambrick@unum.com; bgfogal@unum.com; jcruz@unum.com;
denice@plumhoff.com; wadams@cargoiah.com
Subject:??????? This one is good!

---------------------- Forwarded by Robin  Dunaway/Group/GMLC on 12/12/2000
09:00 AM ---------------------------

Alisa Magee
12/12/2000 08:40 AM

To:???? Stephanie Baloga/Group/GMLC, Melanie Beisert
??????? <mbeisert@mpjh.katy.isd.tenet.edu>, Jennifer Campanelli/Group/GMLC,
??????? Robin  Dunaway/Group/GMLC, Paulette Dutton/Group/GMLC, Allison
??????? Etzler/Group/GMLC, LSuire@aol.com, webmaster@icnc.org, "Lynn  Magee"
??????? <lmagee@sao.state.tx.us>, Cathy Porter <JCPorter@EV1.net>,
??????? bonnies@blairpc.com, "Karen Taylor" <kmtaylor.atty@gte.net>
??????? cc:
???????  ??????? Subject:??????? This one is good!

?> How to settle the 2000 Presidential Election:

> > from journalist Ken Eckler......
> >
> > How to settle the 2000 Presidential Election:
> > Ok, Folks. I've given the people in  Florida plenty of time to get this
> > election  finished. Now It is my turn:
> >
>  > #1: Al Gore becomes  President of the United States (all 49 states).
> >
> > #2: George W.  Bush becomes the President of the Republic of Texas. Gore
> > shouldn't mind as he said we  were the worst state in the union during

the

> > campaign.
> >
>  > So what does Texas have to  survive as a Republic?
>  >
> > NASA in Houston, Texas (we will control the  space industry).
>  >
> > We refine over 85% of the gasoline in the  United States (that is why
> > Houston has  problems with the air quality).
> >
>  > Defense Industry (we have  over 65% of it). The term "Don't mess with
>  > Texas," will take on new meaning.
> >
>  > Oil - we can supply all  the oil the Republic of Texas will need for the
> > next 300 years.
>  >
> > Natural Gas-Again we have all we need (too  bad about those northern
> > states).?  Al Gore will figure a way to keep Tipper and you warm....
> >
> > Computer Industry-we currently lead the nation in producing  computer
> >  chips.
> > A small place named Texas Industries, Dell Computer, EDS, etc.,  etc.
> >
> > Health Centers-We have the largest research centers for  Cancer

research,

> > the best burn centers, and other large health planning  centers.
> >
> > We have enough colleges to keep us going: UT, Texas  A&M, Rice, Texas

Tech,

> >
> > University of Houston, SMU, Baylor, UNT, Texas  Women's University, etc.
> >
> > We have a  ready supply of workers (just open the border when we need

some

> > more) and our friends across the border will pour in by  the thousands.
>  >
> > We have control of the paper industry,  plastics, insurance, etc.
> >
>  > This just names a few of  the items that will keep the Republic of Texas
> > afloat.
>  >
> > Now to the rest of the United States under  President Gore:
>  >
> > Since you won't have  the refineries to get gas for your cars, only
> > President Gore will be able to drive around in his SUV which gets  him
> > about
> > 9 miles per gallon. The rest of the United States will have to walk  or
> > ride
> > bikes.
>  >
> > You won't have any TV as the  space center in Houston will cut off your
> > communications.
>  >
> > You won't have any natural gas  to heat your homes but since Al's

promised

> > global warming, I'm sure you  won't get cold!
> >
>  > You won't need our computer chips since you won't have  electricity to
>  > power
> > the computers.
> >
> > So  don't worry about us down here in Texas. We will be  OK.
> >

__________________________________________________________________________


888Annotated

							A  users guide to the Federal Energy Regulatory Commission's Open Access
Tariff

				Former FERC Deputy  Assistant General Counsel Colette Bohatch Mehle:
				"For  anyone having had the pleasure of researching Order No. 888
tariff-related issues -- and what energy attorney or rate analyst  hasn't had
that 'pleasure?' -- Allen's 888  Annotated is a welcome addition to the
energy library.? My  copy is already dog-eared."? (Electric Co-op Today
published by the National Rural Electric Cooperative  Association)

				Copyright , 2001 Donald R. Allen. All rights  reserved.
				Your use of this web site is governed by Terms & Conditions and the Use of
Service Statement.

								Dear Energy  Professional,

								Please accept this invitation  to take a free look at 888  Annotated, the
only authoritative guide to FERC's Open Access  Transmission Tariff (OATT).
888 Annotated  reports the full, relevant text of all FERC rulings which
interpret OATTs  adopted by the nation's jurisdictional and
non-jurisdictional electric  utilities.

								We have just opened a website  on which we have posted a beta version of our
most recent edition of 888  Annotated. Pending final publication in June, we
invite you to make as  much use of this beta version of 888 Annotated as you
like without charge.  Just click here to visit us. And please give us your
comments -  particularly about how you think we might improve 888 Annotated
on the web.

								If this communication or future announcements  pertaining to 888 Annotated
is not welcome, please let us know by replying to this e-mail, indicating
the word "unsubscribe" in the subject line. Whether you unsubscribe or  not,
be assured that we will never share your e-mail address with anyone  else.

								Sincerely yours,

								Donald R.  Allen

[IMAGE]	[IMAGE]	[IMAGE]	[IMAGE]	[IMAGE]	[IMAGE]	[IMAGE]	[IMAGE]	[IMAGE]


Please have your "needs improvement" reviews submitted to HR and Legal by
Friday,  January 19.  Let me know today if for some reason you will not be
able to complete them by that date.

Dutch - Can you get with Errol so that he can write the goals and
expectations portion of Sherry's review.

Thanks

Here are the names that I have:

De la Torre
Lee
Dawson
Salazar
Frank


There are several of you who have not responded to this e:mail.  Please let
me know of your plans to attend (today) as well as, let me know by Friday,
May 4 which activity you choose.

gngr
713-853-7751
----- Forwarded by Ginger Dernehl/NA/Enron on 05/01/2001 12:31 PM -----

Well, the time has arrived for me to let you know what is in store for
everyone at the next Government Affairs department meeting on Thursday, June
14.  The meeting will take place at:

The Omni Interlocken
500 Interlocken Blvd.
Broomfield, Colorado  80021
Phone# 303-438-6600
Fax# 303-464-3252
Check-in time  3:00 p.m.
Check-out time  12:00 p.m. (Noon)

The  Government Affairs meeting will take place on Thursday, June 14 and will
begin at 8:00 am and will conclude by 11:30 am.  I have arranged for box
lunches to be served after the meeting.   After the meeting, we will have the
remainder of the day for some fun activities, along with a buffet dinner
served that evening to complete the day (on-site dinner location TBD).

Block of Rooms - A block of rooms have been reserved for Government Affairs.
I will be turning in a rooming list to the hotel next week so, I  would like
to know by Friday, April 27 your plans to attend the meeting.

Shuttle Service -  See attachment for shuttle times.  Please note, a return
reservation from the hotel to the airport is required.  Please contact the
Concierge to arrange for shuttle service.

Colorado Weather - For the month of June, you can expect the
following:
High's - 80.............Low's - 52

Flights from Houston - I have checked with TAP for roundtrip flights from
Houston - Denver, Denver - Houston and an exceptionally great
(non-refundable) fare of $190.94 is available.  However, fares are not
guaranteed until actually booked.   Let's book early!!!!!

The activities to choose from are as follows:  Please let me know by May 4
your choice of activity!!!!!!

Whitewater Rafting - A bus will leave the Omni Interlocken Resort at 2:00pm
to head for an afternoon of exciting adventure on Colorado's Clear Creek.
The Arkansas River is one of the most popular whitewater adventures anywhere,
combining spectacular scenery and action packed rapids.  Teamwork is the name
of the game as your team paddles down these tumbling cascades.  Continuous
class III and IV rapids will thrill guests throughout the run. Drop over
Nomad, surge through the Phoenix Holes and take on the class IV climax, the
Outer Limits.  Good physical condition and the ability to swim are
recommended.  The group will have three thrilling hours on the river and will
return to the Omni by 6:15pm.

Chautauqua Park Hiking Adventure - One of the most popular access points for
mountain hiking trails in Boulder is Chautauqua Park. The focal point is the
100-year-old dining hall.  The Colorado Chautauqua is one of only four of the
original Chautauquas still operating in America, as opposed to when thousands
dotted the nation and culturally enriched rural people in the early 1900s.
The tour includes: transportation, professional guide service, two hours of
guided hiking - total time for excursion is 4 hours. (Dress code: Shorts or
hiking attire, appropriate footwear, sunglasses, sunscreen and hats).
Departure time and return will be relayed at a later date.

Spa Services -  The Spa at Omni Interlocken Resort offers a number of spa
services (massages, facial & skin care treatments, body treatments or nail
services, to name a few).  If you are interested in this as an activity,
please let me know and I will fax a detailed list of their services.  You
will need to call the spa and schedule your own appointment if this is the
activity you choose.

Golf -  For the golf enthusiasts, an afternoon of golf at the Omni
Interlocken 27-hole championship golf course which stretches out over 300
acres of verdant fairways is another activity to select from.  Spectacular
panoramic views from three 9-hole courses, which feature more than 400 feet
in elevation changes.  If this is the activity of choice please respond via
e:mail and I will add you to the list.  The game of choice will be "best
ball" play.

Biking -  Scenic bike paths are located near the hotel for those with
interest.  If this is your choice of activity, please let me know and I will
reserve a bike and map for you enjoyment.

After reviewing the choices above, please select an activity you prefer to
take part in.  Due to the fact that our group is so large, (which makes it
more difficult to coordinate activities) once you select an activity, we ask
that you not change your selection.  So, please talk to your colleagues ahead
of time before making your choice.

Thanks and don't hesitate to call me if you have any questions.

Gngr

 - SuperShuttle.doc
 - Directions from DIA with map.doc


Ercot Traders-

We will be going live in the Curve Manager for Ercot on Monday, November 5th.  Ercot South (R6) will be your primary curve that you mark, and all others will be dependent upon that curve.

I know the first few days will be a learning experience, so when you are ready to mark the curves just let me know and I'll come sit with you guys.

Thanks!

Andrea


FYI

-----Original Message-----
From: Smith, Ann
Sent: Monday, October 22, 2001 5:21 PM
To: Horton, Stanley; Hayslett, Rod; Miller, Mary Kay; Kilmer III,
Robert; McCarty, Danny; Hartsoe, Joe; Kirk, Steve; Watson, Kimberly;
Lokey, Teb
Cc: Harris, Steven; Porter, Gregory J.; Fossum, Drew; Pavlou, Maria
Subject: SoCalGas Complaint (Message from Greg Porter)

MESSAGE FROM GREG PORTER

________________________________________________
As you know, Transwestern filed a complaint against Southern California Gas Company (SoCalGas) at the Federal Energy Regulatory Commission on September 28, 2001.  The complaint asked FERC to find SoCalGas' refusal to pay the tariff commodity rate constitutes a violation of Transwestern's tariff and the 1995 Global Settlement.  SoCalGas filed an Answer on October 18, 2001.  In summary, SoCalGas' Answer stated:

1.	SoCalGas did not affirmatively agree to pay the stated tariff rate during the Global Settlement.

2.	The commodity charge SoCal has been paying is consistent with the course of performance/conduct prior to, and after, the Global Settlement.

3.	Since the Global Settlement has been in effect, SoCalGas has relied on the commodity/usage charges that Transwestern has billed.

4.	SoCalGas claims they had been paying the appropriate rate and that Transwestern failed to include the correct rate in its tariff; such omission has created ambiguity and any ambiguity should be construed against the drafter of the tariff, Transwestern.

5.	If the Commission disagrees with SoCalGas and declines to reject the complaint outright, any retroactive billing adjustment should be limited to a six-month period.

6.	SoCalGas admits that a retroactive billing adjustment for the escalation factor for six months is reasonable and an escalation factor going forward for the remaining term of its Contract No. 8255 is appropriate.

In addition to the foregoing statements, SoCalGas provided that it, like Transwestern, was interested in resolving this matter through ADR.  Accordingly, we will be coordinating with SoCalGas and FERC's ADR group to explore possible ADR procedures.

We will advise as new developments warrant.  In the meantime, should you have any questions regarding this matter please do not hesitate to contact me at (402) 398-7406 or Maria Pavlou at (402) 398-7097.


Please do not respond to this email. This mailbox is not monitored.
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Ben and Stuart,

Attached is Amendment #2 to the SPA reflecting the business terms Ben and I
discussed this afternoon.  As you will see this structure (with the
promissory note) is different from the structure described by Steve Hase in
the attached email.  Please let me know if the deal has evolved since our
latest discussions.  Please note that this is being sent to ENA only.  Please
call me with your comments at your earliest convenience.  Best regards.

Aaron P. Roffwarg
Bracewell & Patterson, LLP
South Tower Pennzoil Place
711 Louisiana St.
Houston, Texas 77002
(713) 221-1117 (Ph)
(713) 221-2184 (Fax)

CONFIDENTIALITY STATEMENT:
This information is intended only for the use of the individual or
entity to which it is addressed and may contain information that is
privileged, confidential, and/or exempt from disclosure under applicable
law.  If you are not the intended recipient, you are hereby notified
that any dissemination of this information is strictly prohibited.  If
you have received this information in error, please notify us
immediately by telephone at (713) 221-1117 or by fax at (713) 221-2184,
and confirm that you have destroyed this information and any copies.
Thank you.
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Date: Tue, 01 May 2001 16:32:21 -0400
Subject: Re: Greystone/Haywood - Extension of Dates
To: ALouison@hunton.com
Cc: ben.jacoby@enron.com, stuart.zisman@enron.com, aroffwarg@bracepatt.com,
prollin@aesc.com, mbarr@hunton.com
From: "Steve Hase" <shase@aesc.com>
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Audrey,

Ben and I have reached an agreement which will be documented as follows:

1)  Extension of Dates -- May  11 becomes May 9 (Wed)

2)  Ben will edit the latest version of the Amendment #2 so that

a) on Aug 1, we pay the greater of the $1.5MM ($2.5 less $1 paid at
exercise) and the Additional Compensation (less the $1 MM)

b)  a separate agreement whereby Corp guarantees the payment on Aug 1.

The intention is to sign the Amendment #3 before 5/9.

Thanks everyone for making this happen.

Steve Hase

 - #1283523 v5 - AMENDMENT NO 2 TO SPA.doc


can you help Martin w this

thanks
----- Forwarded by Elizabeth Sager/HOU/ECT on 03/21/2001 11:57 AM -----

	Martin Rosell
	03/18/2001 09:58 AM

		 To: Elizabeth Sager/HOU/ECT@ECT
		 cc:
		 Subject: Commodity Futures Modernization Act

Elisabeth:

I read an article in a law magazine about the captioned Act and it was, among
other things, stated therein that CFTC under the Act had been deprived of its
jurisdiction over swaps (other than those related to agricultural products)
made by eligible contracts participants.  Since the Oslo office trades
through ECTRIC, I wonder whether this new piece of legislation has an impact
on our standard reps relating to the "trade options exemption" and as to the
parties being "eligible swap participants" (are they still required)?  Is
there any internal memo yet prepared on the Act and its implications?

Martin


go to www.mrfebruary.com.  i am not sure what it means, but i think that is
the nickname for mack brown "mr. february".


ISDA PRESS REPORT - MAY 2, 2001

*  ISDA backs push for legal certainty - IFR
* Canadian Central Bank Downgrades Forecast for 2001 Economic Growth -
BNA
* SEC Urges More Use of Fair - Value Pricing - The Wall Street Journal
* Small frys curbed - Business Standard
*  The difficulty of defining a default - Euromoney Magazine

ISDA backs push for legal certainty
IFR - April 28, 2001

The International Swaps and Derivatives Association is backing an
international movement aimed at increasing the legal certainty of
collateralised transactions. With cross-border collateralisation growing,
lack of clarity over which jurisdiction applies to dealings in
indirectly-held securities presents legal risks, said Kimberly Summe,
assistant general counsel at ISDA in New York.

ISDA has joined with 16 other international organisations and 119 legal
experts to put together a proposal aimed at recognising the law of the
location of the intermediary maintaining the account to which the security
is credited as the applicable law in collateralised transactions. They hope
to have a text for adoption within a year.

The current Basle bank capital reform process is putting collateral in the
spotlight.

"lf a bank views collateral as difficult to get hold of, then it will value
it less. And it may need to increase reserve requirements with respect to
the loan secured by that collateral." said Morgan Burkett, chief legal
officer at Cygnifi Derivatives Services in New York.

Canadian Central Bank Downgrades Forecast for 2001 Economic Growth
BNA - May 2, 2001

OTTAWA--The greater than anticipated economic slowdown in the United States
has forced a downward reassessment of Canada's economic growth prospects in
2001 to between 2.0 and 3.0 percent, the Bank of Canada said May 1.

The U.S. economy is now projected to grow by between only 1.0 and 2.0
percent during 2001, even with the boost that will be provided by the
expected growth of between 2.0 and 3.0 percent during the second half of the
year, the central bank said in its semi-annual Monetary Policy Report. The
bank had indicated in a Feb. 6, 2001, update of its last semi-annual report
that it expected the Canadian economy to grow by about 3.0 percent during
2001, based on U.S. growth of 2.0-2.5 percent.

"It now looks as if growth over the first six months will average between
1.25 and 2.25 percent. For the second half of the year, we see growth
picking up significantly to between 2.5 and 3.5 percent," the latest report
said. "The pace of activity in 2002 is expected to be somewhat stronger than
in the second half of 2001, with the economy expanding at a rate slightly
above the Bank's estimate of potential output growth of 3.0 percent."

Meanwhile, the anticipated re-emergence of excess supply in the Canadian
economy will contribute to continued downward pressure on core inflation
during the remainder of 2001, and core inflation is expected to average
slightly less than 2.0 percent for the remainder of 2001, then to increase
to about 2.0 percent by the end of 2002, the Monetary Policy Report said.
Increases in the overall Consumer Price Index are expected to remain
volatile over the next few months, but then to also fall to about 2.0
percent by the end of the year if world energy prices remain near current
levels, it said.

The central bank stressed that the main risk to its projections for the
Canadian economy remain the timing and strength of the projected resurgence
of the U.S. economy, and the report noted that it will continue to monitor
developments closely and make further adjustments to its trend-setting Bank
Rate as necessary.

"For example, if consumer and business confidence in the United States does
not improve, this could lead to weaker consumption and investment spending,"
it said. "Another development that the Bank will have to watch closely
because of its possible implications for aggregate demand and inflation in
Canada is the shift in international financial market sentiment that has led
to a strengthening of the U.S. dollar against the Canadian dollar and other
currencies."

SEC Urges More Use of Fair - Value Pricing
The Wall Street Journal - May 2, 2001
By Judith Burns

U.S. mutual funds can't rely on stale prices when calculating the value of
their portfolios, a senior Securities and Exchange Commission attorney said.

In a letter to the Investment Company Institute, a leading fund-industry
group, Douglas Scheidt, general counsel of the SEC's investment-management
division, said funds should be on the lookout for events that might require
them to use fair - value prices for certain securities, rather than relying
on the last quoted price.

Mr. Scheidt said funds can't ignore major changes affecting pricing that
occur after trading closes but before the calculation of the net asset value
of the securities in fund portfolios.

Mutual funds typically compute their NAV once a day, after the close of
securities trading in major U.S. markets, using readily available
quotations. When that isn't possible, funds must base calculations on the
fair value of a security.

When calculating fair-market value, the SEC said funds should use
appropriate methods to determine the price they might reasonably expect to
receive in a current sale. It recommended funds compare fair-market pricing
results with the next-day opening prices or actual sales prices to refine
their pricing techniques and avoid using market quotes from dealers and
pricing services that prove unreliable.

"Funds that automatically use market quotations to calculate their NAVs
without first verifying that the market quotations are readily available
cannot be assured that the resulting NAVs are accurate," Mr. Scheidt wrote
in his letter dated Monday.

Accuracy could be called into question if a fund ignores developments in
markets such as Tokyo or Hong Kong, which close 12 to 15 hours ahead of the
U.S. closing, the SEC attorney said.

Market swings, natural disasters, terrorist activity or a major change in
government or policy could have dramatic effect on foreign securities
prices. If a fund determines a significant event has occurred after a market
closes that would affect the value of a security it holds, the fund must use
" fair value pricing methodology," rather than the closing price, when
valuing its portfolio, said Mr. Scheidt.

"Funds can't just put their head in the sand," Mr. Scheidt said yesterday in
an interview.

The ICI said it plans to distribute Mr. Scheidt's comments to its members.
"The letter will be useful in providing guidance to the funds on this
matter, " ICI spokesman John Collins said.

Fair - value pricing isn't limited to non-U.S. securities. In cases where
trading in a U.S. security is halted, or there is a significant development
after an early market close, funds should no longer rely on the closing
price or last quotation when calculating their NAV, according to the SEC
staff letter. On the other hand, where market quotes are deemed reliable, it
said funds must continue to use them and can't switch to fair - value
pricing.

Fair - value pricing has been controversial for funds in recent years. In
the fall of 1997, there was an outcry from investors who complained they
bought and sold shares without realizing some fund companies, including
Fidelity Investments, relied on fair - value pricing after Asian markets
swooned. Fidelity calculated an increase in the value of its Hong Kong and
China fund using fair-market pricing.

Investors could be harmed if a fund doesn't use fair - value pricing, since
it could generate arbitrage activity that dilutes shareholder value, the SEC
letter noted. If the fund's NAV doesn't reflect up-to-the-minute changes,
shares could be overpriced, benefiting investors who sell their stake while
harming those who overpay to acquire shares. Conversely, if the fund is
underpriced, sellers would suffer at the expense of buyers.

" Fair - value pricing can protect long-term fund investors from short-term
investors who seek to take advantage" of such situations, Mr. Scheidt said.

Additionally, the SEC urged funds to provide investors with more information
on when and how they will use fair - value pricing, saying "plain English"
disclosure could reduce shareholders' complaints about the practice and
discourage arbitrage activity.

Small frys curbed
Business Standard - May 2, 2001
By Sangita Shah

The introduction of individual stock futures and options to replace the
carry forward system will drive out the small retail investors from the
stock markets, market sources said.

According to market participants, while derivatives as instruments have
always been an alien system to the Indian market, the technicalities
involved will leave domestic investors bewildered.

The introduction of index futures in June 2000 can be termed as anything but
successful. This can be proved by the fact that the average daily volume of
sensex futures has not crossed Rs 10 crore. Even Nifty futures, which has
performed better in terms of liquidity, has barely registered an average
daily volume of Rs 12 crore. This is a fraction of the cash market turnover
of Rs 5,000 crore collectively, in a stable market.

"Lack of understanding as to how the derivatives in stock markets are to be
operated is the major roadblock, in the success of the futures and options
market in our country," Bhavin Shah, a derivatives trader at a domestic firm
said.

In fact, even the LC Gupta Committee has noted in its report in March 1998
that " derivatives are not always clearly understood. A few well-publicised
debacles (sic) involving derivatives trading in other countries has also
created widespread apprehensions in the Indian public's mind."

While economic literature recognises the efficiency enhancing effect of
derivatives on the economy in general and the financial markets in
particular, the Committee felt the need for educating public opinion, as
also the need to ensure effective regulatory checks.

"It is worth mentioning that while regulatory checks have been implemented,
it has failed to educate public opinion. Under the circumstances, it is
probably high-handedness on the part of the authorities to thrust upon them
an alien system without giving an opportunity for smooth transition," a fund
manager said on conditions of anonymity.

However, the fact should also be considered that if futures and options in
individual stocks are introduced in the country, India will be among the
handful of global exchanges which have these systems. The problem is
compounded by the fact that there are few international precedents for India
to draw on in the matter of options and futures in individual stocks.

The difficulty of defining a default
Euromoney - April 2001

It's not difficult to see why the market is so taken with credit default
swaps. For the protection buyer, they are a quick and easy way for investors
worried about a particular credit risk - whether originally taken on via
bonds, loans, ~ trade notes, or derivative counterparty exposure - to gain
reassurance without having to dispose of assets. For sellers of protection,
default swaps provide the opportunity to buy into sectors to which they may
have little or no exposure, while avoiding the need to make a large capital
investment up front. The buyer pays a premium to the seller in return for an
agreement that, if a default occurs, the seller ~ pays a sum equal to the
value lost and assumes _ ownership of the defaulted assets.

For their part, dealers enthuse about being able to amalgamate limited
liquidity in different parts of the market and convert it into a readily
tradable instrument. "One of the big advantages of credit default swaps is
that they are in pure derivative form," says Glenn Barnes, global co-head of
credit derivatives at Merrill Lynch. "It's not like credit insurance where
you have to suffer a loss before you get paid."

Credit default swaps have quickly become ~ the largest component of the
credit derivatives market, making up over two-thirds of global business.
According to Merrill Lynch, the credit derivatives market accounted for $893
billion of notional value in 2000, a figure estimated to top $1.58 trillion
by 2002. "Derivatives are now absolutely central to the whole credit
benchmark," says Tim Frost, European head of credit derivatives at JP
-Morgan. "Bond issues cannot be priced without knowledge of credit swap
prices."

While the threat of a bear market lingers, -credit default swaps can only
grow in popularity as investors seek to insulate themselves against risk.
"Up until three years ago, the -only liquid protection from risk available
to bond investors was to -. go short on bonds and hope they got cheap enough
to buy before they had to deliver," says Gordon Black, a -managing director
in credit derivatives at Bear Stearns.

However, because the credit default swap market is now taking centre stage,
the structure of swap agreements is coming under much closer scrutiny.  At
the heart of the debate is the question how to define a credit event. In
1999, reacting to continued confusion in the market over the issue, the
International Swaps & Derivatives Association (ISDA) published a list of
conditions, each of which is sufficient on its own trigger a swap agreement.
These credit events are bankruptcy, failure to pay, restructuring
repudiation or moratorium, obligation default and obligation acceleration.
At the time of publication, ISDA stated that these definition "were critical
to the growth in demand fro credit derivative transactions.

For a while, this kept market participant quiet. Although most felt that the
arrangement was by no means perfect, they were happy to use ISDA's list as
the basis of their credit default swap contracts. Having a blueprint for
swap agreements attracted greater numbers of investors with no previous
experience of default swaps, and liquidity boomed. But it wasn't long before
the flaws in the plan began to surface. At the end of 2000, following a year
of catastrophic results and event risk, US-based financial-services company
Conseco restructured over $~ billion of debt. With the agreement of its
banks, it extended the maturity of its bonds and loans until the end of
2003. Under ISDA rules, this triggered  default and banks that had written
protection for parties exposed to Conseco found themselves having to pay
out.

"Initially, we were fairly confident about ISDA including restructuring
instead of the old 'material change'. We saw it as a step on the road to
default," explains Black. "But people failed to recognize at the start that
restructuring is not the same as default. You can't demand par value in the
case of a default. This exposed the seller not only to credit risk, but
market risk as well."

In response to growing dissatisfaction with ISDA's guidelines, some market
participants have gone about simplifying matters unilaterally. Dealers at a
number of major US houses have decided to remove restructuring from the list
of credit events included in credit default swap contracts. There is a
liquid market for these swaps in the US, which trade at a discount to those
with a restructuring clause. Other institutions have attempted to establish
a market in swaps that carry a more limited definition of default. Enron, an
energy trader that is also a large dealer in credit markets, is trying to
build a market in pure bankruptcy contracts, where bankruptcy is the only
event that can trigger payment.

Regulators are warning investors to pay particular attention to the contract
when they enter a credit default swap deal. Even banks aren't immune from
confusion. Last month it emerged that UBS Warburg was suing Deutsche Bank
over an unpaid obligation. UBS bought protection from Deutsche on Armstrong
World lndustries, which meant that if AWl defaulted on its payment or went
bankrupt, Deutsche would have to pay UBS $so million. In December, A\XTI
filed for bankruptcy but in the meantime it had undergone a reorganization
and created a holding company. So when UBS applied for payment from
Deutsche, the German bank refused to pay on the grounds the name on the
contract didn't match the name of the entity that had defaulted. The dispute
nearly ended up in court.

In London in February at Euromoney Institutional Investor's International
Bond Congress, David Clementi, deputy governor of the Bank of England,
voiced concern about the rapid growth of the credit derivatives market.

"It is intrinsically more difficult to standardize the definition of a
credit event compared with that of a price or interest rate - the underlying
for most other derivative products," he said. "Market participants will
therefore have to pay even greater attention to documentation."

It's all in the contract
Credit-rating agency Moody's Investors Service, too, has expressed concern
that investors don't always know what they are buying. "When investors enter
an agreement with a derivatives trader, they're talking to someone who works
with these products full time. So they're getting into something fairly
technical with a dealer who knows much more about the subject than they do,"
says Isaac Efrat, managing director in the structured finance department at
Moody's. "Investors always enter the market from the same direction, of
wanting to sell protection, whereas dealers tend to hedge everything. The
risk has to go somewhere and my guess is that it's going to investors," he
continues.

Bankers, unsurprisingly, dispute this, saying that the rating agency is
underestimating investors' knowledge of the structures. "Frankly, I think
people do understand the risks very well," says Barnes at Merrill Lynch.
"Some of the most recent entrants to the market, pension funds and hedge
funds, have quickly picked up how credit default swaps work." Others say
that the whole point ~f default swaps is the exposure to risk. "Moody's is
raining on the parade," says a credit derivatives trader. "Credit default
swaps-are supposed to synthetically create the risk profile of a bond. The
buyer acquires the risk and is paid for it."

But most admit that there are kinks in the market that need ironing out.
Most of these are to do with one particular type of credit event.
"Restructuring is where things come unstuck," says a market participant.
"The current restructuring clause in credit protection is more in favour of
the buyer," says Antonio di Flumeri, director of credit derivatives at
Deutsche Bank. He believes that a company's restructuring shouldn't give
rise to a default. "Banks holding loans and protection have the opportunity
to realise a windfall gain by restructuring those loans to trigger the swap,
then delivering a cheaper asset to the seller of protection," di Flumeri
says. Barnes agrees. "From the dealer's perspective, it isn't fair if the
holder of the asset consents to the restructuring of a loan but this then
triggers a credit event payment," he says. "This gives the bank

Without such protection, financial institutions would lose out on capital
relief. An alternative, which has found more favour among bankers, is to
place restrictions on what is deliverable in the case of a restructuring.
Under present arrangements, if a bank sells a five-year protection on a loan
or bond with the same length maturity and that debt subsequently needs to be
restructured, the original lending bank can agree to any terms it chooses.
It might, for example, allow a company to extend its debt to a maturity date
of 30 years in the future.

Because a restructuring has taken place, that bank can then exercise the
default swap and
the seller of the protection ends up owning 30-year debt. This can be a real
problem if that investor has been marking the bond or loan to market. "What
is cheapest for the buyer of protection to deliver may cause problems for
those who have sold protection," says Black.

The answer may be for ISDA to set a limit to the time over which debt can be
restructured, perhaps restricting it to the same maturity as the original
loan, or two or three years beyond it.  This would limit bankers' discretion
and help redress the balance. "The question is, can we convince the banks
that this isn't limiting their ability to restructure?" asks one trader.
"They're going to say: 'What, you're telling me I can only restructure over
two years? That's not much of a restructuring'. They'll ask for 10, we'll
say three, maybe we'll settle on five."

Whatever the outcome of this debate - as Euromoney went to press ISDA had
not yet announced its conclusions - it needs to be resolved quickly.
"Everyone realizes that something has to give," says a credit derivatives
trader. "This market has only existed for three years and there's only been
any sort of meaningful liquidity for two. The last thing we want to do is
shoot ourselves in the foot." Unless an agreement is reached soon, there's a
real danger that the emergence of default swaps without restructuring in the
US could lead to the establishment of a two-tier market. Certainly, the
possibility of Europe excluding restructuring is a remote one, "I've tried
to do credit default swaps without it a couple of times in Europe and it
just doesn't work," says one derivatives trader. So that leaves it to the US
to back down. Or does it?

"European investors do often tend towards European names and the same
situation occurs in the US and Asia," says a banker. "In theory, each
jurisdiction could have its own treatment. This wouldn't be a disaster, but
it would affect liquidity." Moody's Efrat says: "I can easily envision a day
when there will be a wide range of credit default swap contracts determining
what counts as a default."

Stephen Selig, counsel at Baer Marks & Upham, goes further. There is no
reason why contracts shouldn't be specific to particular deals, he says.
"Unless I'm missing something, I really don't see why the scope of the
protection, and what gives rise to a trigger of the swap, can't be part of
the individual contract between the buyer and the seller. ISDA tries to
cover every eventuality and all you get is a long and unreadable list of
conditions."

For the sake of practicality, not to mention liquidity, it seems likely that
ISDA will come down on the side of a single set of criteria. "The market
needs a standard product," says Black at Bear Stearns. "You don't want to
have to compare documentation every time you do a credit default swap
because different jurisdictions have different standards." Participants want
to use credit default swaps for different purposes: some want to hedge
receivables, others use them as a synthetic asset class and others still to
hedge loans. So a blueprint is also essential to avoid exploitation of new
entrants in the market. "At the limit, if everyone developed a contract
which suited their own needs perfectly, there would be no trading at all,"
says Frost at JP Morgan.

Opinions are divided on whether this debate is causing a slowdown in the
credit default swap market. Says Deutsche Bank's Flumeri: "Volumes are the
highest they have ever been so I don't think the debate is having a
significant impact." But, according to another trader, "If there was a
universally accepted contract for credit default swaps, volumes would
explode."

But whatever ISDA announces, this is likely to be some way off. "If people
are expecting credit swaps to be as vanilla as interest rate swaps then they
are sadly mistaken," says Frost at JP Morgan. "I expect to have retired
before there is one standard contract that everybody around the world uses."

Scott Marra
Administrator for Policy & Media Relations
ISDA
600 Fifth Avenue
Rockefeller Center - 27th floor
New York, NY 10020
Phone: (212) 332-2578
Fax: (212) 332-1212
Email: smarra@isda.org


I sent a copy of the agreement to Melissa Murphy via fax. I'll need to get
ahold of Chris Foster, who is in your Houston office at the moment, to locate
the original. He won't be back in the Portland office until Monday morning.
When would you like the original by? Just let me know - we'll get it to you
as soon as we can.

Thanks,
Kate
503-464-7486

Rhonda L Denton
04/12/2001 07:22 AM
To: Kate Symes/PDX/ECT@ECT
cc: Chris H Foster/HOU/ECT@ECT

Subject: Re: New CTPY Request

Can I get the original of this contract?

   Kate Symes                04/09/2001 03:09 PM

To: Rhonda L Denton/HOU/ECT@ECT, Melissa Ann Murphy/HOU/ECT@ECT
cc: Samuel Schott/HOU/ECT@ECT
Subject: New CTPY Request

I just heard from Samuel (thanks for your message!) that I need to send
Rhonda new counterparty information in order to get their names added to the
system. I called Rhonda, but it turns out she's out of the office for the
first part of this week, and her voice mail referred me to Melissa. (That's a
short explanation of why I'm sending this info. to all of you.)

Anyway, following is the information connected with the new counterparty name
Chris Foster has requested:

Name: Sierra Pacific Holding Company, dba Sierra Pacific Industries
Address: PO Box 496028
    Redding, CA 96049
Or: 19759 Riverside Ave.
      Anderson, CA 96007
Phone: (530) 378-8179
Fax: (530) 378-8139
Contact: Director of Energy Resources - Robert Ellery

I also have a copy of the Master Power Purchase and Sale Agreement if you'd
like me to fax that over. Just let me know how I can help. We've already
entered Chris's deal into the system with "New Counterparty," so the sooner
we can change that the better.

Thanks,
Kate


One more forward of terminated counterparties.  Won't promise this will be the last.

Stacey

 -----Original Message-----
From: 	Panus, Stephanie
Sent:	Friday, January 04, 2002 8:29 AM
To:	Arora, Harry; Baughman, Edward; Bentley, Corry; Bradford, William S.; Davis, Mark Dana; Gilbert-smith, Doug; Hall, Steve C. (Legal); Hansen, Leslie; Miller, Don (Asset Mktg); Miller, Jeffrey; Moore, Janet H.; Murphy, Harlan; Nettelton, Marcus; Portz, David; Presto, Kevin M.; Sager, Elizabeth; Sturm, Fletcher J.; Suarez, John; Tricoli, Carl; White, Stacey W.; Yoder, Christian
Subject:	EPMI Terminations

Attached is a list of termination received fro EPMI, which incorporates all terminations received through January 2.  Additional terminations received that are still under legal review for a valid termination are the following:

Cargill-Alliant, LLC
Carolina Power & Light Company
City of Burbank
City of Redding
DTE Energy Trading, Inc.
MidAmerican Energy Company

The above counterparties will appear on the list for January 3.

Stephanie Panus
Enron Wholesale Services
ph:  713.345.3249
fax:  713.646.3490


This is what I see so far for Ogy for May.  We need to buy the imbalance back that was created on the 3rd but we can chat later.


The meters in question are : 616, 894, 2538, 2690, 3396.

Mtrs 616 and 2538 are shrinkage and condensate meters.  Volumes are split
among HPLR Liquids and HPLC, with the majority going to Liquids.
Mtr 894 is a gas loss meter.  Volume should be allocated to our operational
ua4 contract.
Mtrs 2690 and 3396 should be allocated to Liquids.

You can see these allocations by viewing prior months in POPS.  On Monday
afternoon, Clem Cernosek will verify the above transactions and expain the
split between parties at 616 and 2538.

D

Mandy MacKinnon
03/03/2000 08:02 AM
To: Daren J Farmer/HOU/ECT@ECT
cc: Stella L Morris/HOU/ECT@ECT, Jackie Young/HOU/ECT@ECT, Pat
Clynes/Corp/Enron@ENRON, Stacey Neuweiler/HOU/ECT@ECT, Ami
Chokshi/Corp/Enron@ENRON
Subject: Re: 3-rivers / King Ranch / HPLR Liquids

I have identified the additional HPLC wellhead purchases and have made
corrections to the interconnect tickets accordingly.  Jackie is still having
difficulty identifying all the wellhead purchase.  We feel there are at least
6 meters flowing a total of appox. 7000 a day that are not showing up on a
HPLC purchase or a HPLR transport.  I believe she has given you this
information and will await instructions or for the purchases to be input
reflecting the proper Enron Entity purchasing these volumes.

We have worked very hard on this issue and I apologize that it has not yet
been entirely corrected.


My apologies-- I have to admit that I dropped the ball on this one. WIth the
market going crazy, yearend and some stuff going on in London, I havent
totally formulated the response to you.  I will get a response to you early
next week.  Obviously, we have had alot of discussions internally with many
issues/questions.  However, I understand that you need an answer soon so we
will revert quickly.
Happy New Year.

-----Original Message-----
From: Andy.Zipper@enron.com [mailto:Andy.Zipper@enron.com]
Sent: Thursday, December 28, 2000 1:14 PM
To: mbergonia@edfman.com
Subject: discussions

Mary,

Just wondering what path you folks want to pursue. Give me a call if you
want to continue discussions, or let me know if you want to drop it.

Hope you had a good Holiday season,
Andy Zipper


Anne,  Attached is a list of the contracts, documents, or information which
we still need for our review.  Let me know if you have any questions.


Can your LA office get a copy of this?
----- Forwarded by Richard B Sanders/HOU/ECT on 01/25/2001 06:37 AM -----

	Jeff Dasovich@ENRON
	Sent by: Jeff Dasovich@ENRON
	01/23/2001 06:57 PM

		 To: Alan Comnes/PDX/ECT@ECT, Angela Schwarz/HOU/EES@EES, Beverly
Aden/HOU/EES@EES, Bill Votaw/HOU/EES@EES, Brenda Barreda/HOU/EES@EES, Carol
Moffett/HOU/EES@EES, Cathy Corbin/HOU/EES@EES, Chris H Foster/HOU/ECT@ECT,
Christina Liscano/HOU/EES@EES, Christopher F Calger/PDX/ECT@ECT, Craig H
Sutter/HOU/EES@EES, Dan Leff/HOU/EES@EES, Debora Whitehead/HOU/EES@EES,
Dennis Benevides/HOU/EES@EES, Don Black/HOU/EES@EES, Dorothy
Youngblood/HOU/ECT@ECT, Douglas Huth/HOU/EES@EES, Edward
Sacks/Corp/Enron@ENRON, Eric Melvin/HOU/EES@EES, Erika Dupre/HOU/EES@EES,
Evan Hughes/HOU/EES@EES, Fran Deltoro/HOU/EES@EES, Frank W
Vickers/HOU/ECT@ECT, Gayle W Muench/HOU/EES@EES, Ginger
Dernehl/NA/Enron@ENRON, Gordon Savage/HOU/EES@EES, Harold G
Buchanan/HOU/EES@EES, Harry Kingerski/NA/Enron@ENRON, Iris Waser/HOU/EES@EES,
James D Steffes/NA/Enron@ENRON, James W Lewis/HOU/EES@EES, James
Wright/Western Region/The Bentley Company@Exchange, Jeff Messina/HOU/EES@EES,
Jeremy Blachman/HOU/EES@EES, Jess Hewitt/HOU/EES@EES, Joe
Hartsoe/Corp/Enron@ENRON, Karen Denne/Corp/Enron@ENRON, Kathy
Bass/HOU/EES@EES, Kathy Dodgen/HOU/EES@EES, Ken Gustafson/HOU/EES@EES, Kevin
Hughes/HOU/EES@EES, Leasa Lopez/HOU/EES@EES, Leticia Botello/HOU/EES@EES,
Mark S Muller/HOU/EES@EES, Marsha Suggs/HOU/EES@EES, Marty Sunde/HOU/EES@EES,
Meredith M Eggleston/HOU/EES@EES, Michael Etringer/HOU/ECT@ECT, Michael
Mann/HOU/EES@EES, Michelle D Cisneros/HOU/ECT@ECT, Mike M Smith/HOU/EES@EES,
mpalmer@enron.com, Neil Bresnan/HOU/EES@EES, Neil Hong/HOU/EES@EES, Paul
Kaufman/PDX/ECT@ECT, Paula Warren/HOU/EES@EES, Richard L
Zdunkewicz/HOU/EES@EES, Richard Leibert/HOU/EES@EES, Richard
Shapiro/NA/Enron@ENRON, Rita Hennessy/NA/Enron@ENRON, Robert
Badeer/HOU/ECT@ECT, Roger Yang/SFO/EES@EES, Rosalinda Tijerina/HOU/EES@EES,
Sandra McCubbin/NA/Enron@ENRON, Sarah Novosel/Corp/Enron@ENRON, Scott
Gahn/HOU/EES@EES, Scott Stoness/HOU/EES@EES, Sharon Dick/HOU/EES@EES,
skean@enron.com, Susan J Mara/NA/Enron@ENRON, Tanya Leslie/HOU/EES@EES, Tasha
Lair/HOU/EES@EES, Ted Murphy/HOU/ECT@ECT, Terri Greenlee/NA/Enron@ENRON, Tim
Belden/HOU/ECT@ECT, Tony Spruiell/HOU/EES@EES, Vicki Sharp/HOU/EES@EES,
Vladimir Gorny/HOU/ECT@ECT, Wanda Curry/HOU/EES@EES, William S
Bradford/HOU/ECT@ECT, Kathryn Corbally/Corp/Enron@ENRON, Jubran
Whalan/HOU/EES@EES, triley@enron.com, Richard B Sanders/HOU/ECT@ECT
		 cc:
		 Subject: Edison's Filing in District Court in L.A.

Michael Tribolet:

In response to your question, yes, Edison did file in federal district court
in L.A.  The filing asks the judge to force the CPUC to 1) declare that the
rate free is over and 2) raise rates to compensate Edison for its
undercollections.  (Recall that this filing comes on the heels of the court
agreeing to hear Edison's case asserting that the CPUC must let Edison pass
through the power purchase costs to customers.)

The filing is apparently very large.  The lawyers at the CPUC have a copy but
said that it's much too large to make a copy and aren't willing to give it to
us to make a copy for ourselves.

Question to the lawyers:  Do we have contacts in L.A. that can go to the
courthouse and get a copy of the filing for us?  Probably a good idea to have
that filing passed around to this distribution list.

Best,
Jeff


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 01/26/2001
04:38 PM ---------------------------

Vince J Kaminski
01/19/2001 08:52 AM
To: "Wydawnictwa Naukowo-Techniczne" <marketing@wnt.com.pl> @ ENRON
cc: Vince J Kaminski/HOU/ECT@ECT, vkaminski@aol.com
Subject: Re: zakup ksiazki w WNT - "Inzynieria finanasowa"

Dziekuje za szybka  odpowiedz. Czy mozliwa jest platnosc czekiem?

Jako alternatywne rozwiazanie prosze podac mi cene w zlotych i moja rodzina w
kraju
dokona przelewu.

Prosze o kopie odpowiedzi na adres:  vkaminski@aol.com.

Dziekuje.

W. Kaminski

"Wydawnictwa Naukowo-Techniczne" <marketing@wnt.com.pl> on 01/19/2001
10:09:27 AM
To: <vkamins@enron.com>
cc:
Subject: zakup ksiazki w WNT - "Inzynieria finanasowa"

Uprzejmie informuje, ze ksiazke wyslemy po  wplynieciu na nasze konto
odpowiedniej kwoty. Kwota ta zawiera wartosc ksiazki  (13,75$), koszty
bankowe (5$) oraz koszty pocztowe (6,5$ lub 11 $).
- Przy przesylce droga morska prosze wplacic  15,25 $
- Przy przesylce lotniczej prosze wplacic  29,75$
Nietety, nie mamy mozliwosci technicznych  pobrania oplaty karta kredytowa.
Fakture wysylam poczta.
Nasze konto: PBK S.A. III  O/Warszawa
????????????????????11101024  - 401020003963
Nazs adres: Wydawnictwa Naukowo-Techniczne,  Mazowiecka 2/4, 00-048 ??? ????
Warszawa,  Polska
Serdecznie pozdrawiam
Grazyna Piesniewska


I will have to update this document weekly so I'd feel better if you updated,
etc.  I'll bring the info shortly and we can e-mail to Randy's assistant in
Sao Paulo.  Thanks.  SS
---------------------- Forwarded by Sara Shackleton/HOU/ECT on 10/25/99 11:40
AM ---------------------------

Elizabeth Serralheiro@ENRON_DEVELOPMENT
10/25/99 10:02 AM
To: Sara Shackleton/HOU/ECT@ECT
cc:
Subject: Re: ESA Legal Management Committee Meeting Reports

I'm sorry Sara,  I forgot that your participation is new on this meeting. We
are using the same format as we used on the formerly Chief Counsel Meetings.

Please let me know if you have any questions.
Best regards,
Elizabeth.

Sara Shackleton@ECT
25/10/99 12:41
To: Elizabeth Serralheiro/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:

Subject: Re: ESA Legal Management Committee Meeting Reports

Does Randy prefer a particular format?   Sara

Elizabeth Serralheiro@ENRON_DEVELOPMENT
10/25/99 06:19 AM
To: John Novak/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Robert H
George/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, George
Frumkin/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, vcferraz@elektro.com.br, Sami
Arap/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rick
Hopkinson/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Brent
Hendry/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Andrea
Bertone/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sara Shackleton/HOU/ECT@ECT
cc:
Subject: ESA Legal Management Committee Meeting Reports

Please send me your updated report today, not later than 5:00 p.m.

Thanks,
Elizabeth.


Max brought to my attention the fact that some of  you are not receiving the
weekly report. I am sending you the report from the  last two weeks, along
with an analysis of the elections, and starting Monday you  will receive it
directly on a regular basis.
?
Thank you and I apologize for the inconvenience.
 - Weekly1.doc
 - Weekly2.doc
 - Fox.doc


http://www.flipdog.com/js/jobsearch-results.html?loc=TX-Houston+Area&srch=Trader&job=1

http://jobsearch.monster.com/jobsearch.asp?cy=US&brd=1&q=Natural+Gas+Trader

http://www.hotjobs.com/cgi-bin/job-search?KEYWORDS=natural+gas+trader&PARSE_NO_NULL=1&HJ_JOBS=1&AX_JOBS=1

Beth Cherry
___________
Sr. Creative Consultant
EnFORM Technology
713.350.1860


Start Date: 4/29/01; HourAhead hour: 9;  No ancillary schedules awarded.
Variances detected.
Variances detected in Generation schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001042909.txt

---- Generation Schedule ----
$$$ Variance found in table tblGEN_SCHEDULE.
     Details: (Hour: 9 / Preferred:  10.00 / Final:   9.79)
  TRANS_TYPE: FINAL
  SC_ID: ARCO
  MKT_TYPE: 2
  TRANS_DATE: 4/29/01
  UNIT_ID: CARBGN_6_UNIT 1


make it so.  who is this shawna johnson person?

Sarah Mulholland
01/19/2001 03:59 PM
To: Jeffrey A Shankman/HOU/ECT@ECT
cc:
Subject: Re: REVISED PENN ITINERARY!!!!

done.  then theres 4 and i think thats good if we get around 45 at the
presentation like we did in the fall.  It s agood mix with miguel in
broadband trading, me in global markets, and gerardo in structuring.

sarah

To: Sarah Mulholland/HOU/ECT@ECT
cc:
Subject: Re: REVISED PENN ITINERARY!!!!

launch jeff, and I'll let you decide who else really needs to be there.

Sarah Mulholland
01/19/2001 03:56 PM
To: Jeffrey A Shankman/HOU/ECT@ECT
cc:
Subject: Re: REVISED PENN ITINERARY!!!!

nope.  that was my last minute all i had was gerardo and i and had begged
everyone at the last minute attempt.  i'll call him now,

sarah

To: Sarah Mulholland/HOU/ECT@ECT
cc:
Subject: Re: REVISED PENN ITINERARY!!!!

do we need jeff snyder?

Sarah Mulholland
01/19/2001 03:50 PM
To: Jeffrey A Shankman/HOU/ECT@ECT
cc: Shawna Johnson/Corp/Enron@ENRON, Beth Miertschin/HOU/ECT@ECT
Subject: Re: REVISED PENN ITINERARY!!!!

Ok, Sarah Wesner is not attending and Beth has to come so I've got little
choice.  I can cut off one more but everyone said no at first and then just
came back and said yes.  Initially I was going to have to speak so it was
going to be 4 people and then you can go to speak so that makes 5.  Beth
included is 6.

Sarah

To: Shawna Johnson/Corp/Enron@ENRON
cc: Sarah Mulholland/HOU/ECT@ECT, Beth Miertschin/HOU/ECT@ECT
Subject: Re: REVISED PENN ITINERARY!!!!

Do we really need 7 people to attend this event?

	Enron North America Corp.

	From:  Shawna Johnson @ ENRON                           01/19/2001 03:38 PM

To: Jeffrey A Shankman/HOU/ECT@ECT, Sarah Mulholland/HOU/ECT@ECT, Gerardo
Benitez/Corp/Enron@Enron, Miguel Nasser/NA/Enron@Enron, Sarah
Wesner/Corp/Enron, Jeffrey Snyder/Corp/Enron, Beth Miertschin/HOU/ECT@ECT
cc: Jennifer Burns/HOU/ECT@ECT
Subject: REVISED PENN ITINERARY!!!!

Hi!

I apologize for the changes.  Jeff Shankman will now be joining us and he is
added to the event sheet.  You each now have your own confirmation number.
Again, review the event sheet and confirm your hotel dates and contact me
with any changes.  If you should have any questions regarding the itinerary
please do not hesitate to call.

Have fun!

Shawna Johnson
Recruiting Coordinator
58369


Home Telephone:  713-664-3207

Cell Phone/Pager Number:  713-705-1823 (cell phone)

Home Fax Number:  713-664-3207 (manually turned on)


Brenda:
Here is that internal memo that I was referring to.  Alos, could you please
have Joyce send those resumes to me as we are anxious to talk to the
candidates as soon as possible.  Tahnks.
Carol


Dear Vince,

Thanks again for taking the time to visit.? Both faculty and students got a
lot out of your presentations.

I have a favor to ask concerning the expense reimbursement process.? Can you
mail all travel and lodging receipts to my secretary Joan Payne at the
following address:

Joan Payne
Department of Finance
2163 CEBA
Louisiana State University
Baton Rouge, LA? 70803

Thanks,

Jim Garven

_________________________________________
James R. Garven
William H. Wright, Jr. Endowed Chair for Financial Services
Department of Finance
2158 CEBA
E. J. Ourso College of Business Administration
Louisiana State University
Baton Rouge, LA? 70803-6308

Voice (225) 388-0477? |? Fax: (800) 859-6361

E-mail:? jgarven@lsu.edu
Home Page: http://garven.lsu.edu
Vita: http://garven.lsu.edu/dossier.html
Research Paper Archive: http://garven.lsu.edu/research.html
_________________________________________


Dear PIRA Client:

The following Current News & Analysis articles have been published on
PIRA's website:

1) OPEC Set To Cut 1+ MMB/D With Likely Dec. 1 Start Date
2) Speculative Short Selling Hammers Crude Oil Prices, But For How Long?

Please go to http://www.pira.com

These articles can be found in the client section of PIRA's website. You
will need a PIRA Online account in order to gain access. For account
information please contact Dyana Rothman, drothman@pira.com

Best regards,

PIRA Energy


Sara:
In the unlikely event taht you are called tomorrow and they can't reach me
here is where things stand.  After several internal discussions with Paul,
Akasha and Denis O'Connell and based on the information that we have received
from DB thus far, it appears as if our Reference Entity's subsidiaries have
declared a standstill/moratorium with respect to all of their debt.  Our
Reference Entity is the Guarantor of such debt.  We have taken the position
that since the Credit Event must occur with respect to our Reference Entity,
we need proof that our Reference Entity has repudiated its obligations under
its Guaranty.  We feel fairly certain that it has, but DB has not shown us
any proof of this.  Paul is calling the paying agent on the defaulted bonds
to try and find out and we have sent another e-mail to DB requesting proof.

All of the other requirements have been met with respect to the obligations
that DB plans to deliver to us next week to settle the contract.  I just need
to quickly review the Guaranty that supports such obligations to make sure
that it is unconditional.  I expect to see it sometime today.

Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com


We have finally received the executed Termination Agreement for the two Koch
physical trades done in error on EOL (which have already rolled off the
books!).  The deal nos. are EOL Nos. 103992 and 104018.  I am sending the
original to Bob Bowen.


I would like to talk to this guy and have him meet with Phyllis and Ron.

Kalen - can you get him in here for an interview.

David W Delainey
10/04/2001 11:11 AM
To:	Scott Gahn/HOU/EES@EES, Jeremy Blachman/HOU/EES@EES, Sean A Holmes/HOU/EES@EES, Suresh Raghavan/HOU/EES@EES, Ozzie Pagan/HOU/EES@EES
cc:	Kalen Pieper/HOU/EES@EES, Harry Arora/HOU/ECT
Subject:	Resume - for your perusal

Fyi, action
Dave
---------------------- Forwarded by David W Delainey/HOU/EES on 10/04/2001 11:09 AM ---------------------------
From:	Harry Arora/ENRON@enronXgate on 10/03/2001 05:01 PM
To:	David W Delainey/HOU/EES@EES
cc:
Subject:	Resume - for your perusal

Dave

One of my close friends is looking for a job. He has been in strategy consulting for the last four years, first for Mckinsey and then for Accenture. He is a very smart guy and has great business sense. I have known him for a long time, great guy and can get things done.
He is a business strategy and restructuing guru. Gurmeet had a baby and he is very keen in moving out of consulting. I am enclosing his resume here and I am going to take the liberty of asking him to give you a call. Will appreciate your taking a look.

Harry


no prob

 -----Original Message-----
From: 	Quigley, Kay
Sent:	Monday, August 20, 2001 1:10 PM
To:	Quigley, Dutch
Subject:	Re: house

thanks for keeping me in the loop today regarding our lot
since I know you must be very busy..
ly lots
kay


As promised, Tanya's "cap".

-----Original Message-----
From: Rohauer, Tanya
Sent: Tuesday, November 20, 2001 12:44 PM
To: Glover, Sheila; Shackleton, Sara
Subject: RE: Carr Futures

sara, would you please give him a call on the gty? let's start with 25mm cap

-----Original Message-----
From: Glover, Sheila
Sent: Tuesday, November 20, 2001 12:09 PM
To: Shackleton, Sara; Rohauer, Tanya
Subject: FW: Carr Futures
Importance: High

Sara and Tanya,
Rick Farina, 312-441-4420, called this morning and left a voice mail.  He requested that I call him back because he wanted to clarify their stance.

It is probably more for one of you to speak to him rather than myself.

Please advise if one of you will give him a call this afternoon.
Thanks. Sheila

-----Original Message-----
From: Panus, Stephanie
Sent: Tuesday, November 20, 2001 9:55 AM
To: Glover, Sheila
Subject: FW: Carr Futures

Sheila,
Do you know who in London works on futures/brokerage agreements?  I'm trying to find out if ECTRIC has an agreement with Carr.

-----Original Message-----
From: Shackleton, Sara
Sent: Monday, November 19, 2001 5:42 PM
To: Panus, Stephanie
Subject: FW: Carr Futures

Stephanie:

Scroll all the way down to Sheila's original message for contact person and the two Enron companies being guaranteed.  You will need to verify with London that ECTRIC has a futures agreement with Carr (maybe you can get a copy of it for our records).  Can you prepare a draft guaranty and ask Tanya for a cap.  Thanks.  Sara

-----Original Message-----
From: Glover, Sheila
Sent: Monday, November 19, 2001 5:33 PM
To: Rohauer, Tanya; Shackleton, Sara
Subject: RE: Carr Futures

Pls see me original e-mail below.
sg

-----Original Message-----
From: Rohauer, Tanya
Sent: Monday, November 19, 2001 5:24 PM
To: Shackleton, Sara; Glover, Sheila
Subject: FW: Carr Futures

I assume the parties are  ENA and ECTRIC with Carr Futures, Inc. I do not have any information about this though nor do I have a contact.  Sheila can you provide this information to Sara?

-----Original Message-----
From: Shackleton, Sara
Sent: Monday, November 19, 2001 4:37 PM
To: Rohauer, Tanya
Cc: Panus, Stephanie
Subject: FW: Carr Futures

Tanya:  Just let us know the parties and guaranty cap.  I am not familiary with any Carr arrangements other than the ENA futures agreement.  Also, do you have a contact at Carr?

Thanks.  Sara

-----Original Message-----
From: Kitchen, Louise
Sent: Monday, November 19, 2001 2:42 PM
To: Rohauer, Tanya; Shackleton, Sara; Bradford, William S.
Subject: RE: Carr Futures

No objections

-----Original Message-----
From: Rohauer, Tanya
Sent: Monday, November 19, 2001 12:51 PM
To: Shackleton, Sara; Bradford, William S.; Kitchen, Louise
Subject: FW: Carr Futures
Importance: High

Are there any objections to issuing the gty? We just did the same thing last week for FIMAT Issuing seems the simplest rather than having to stop trading, although traditionally we have not issued corp gtys.  Please advise.

Tanya

-----Original Message-----
From: Glover, Sheila
Sent: Monday, November 19, 2001 11:28 AM
To: Rohauer, Tanya
Cc: Su, Ellen
Subject: Carr Futures
Importance: High

Tanya,
I received a call from Carr Futures this morning.  Their parent, Cr?dit Agricole Indosuez, is requesting a parent guanantee to continue trading with Enron North America Corp. and Enron Capital and Trade Resources International.

I spoke with Gary this morning and he said that we could stop trading with them.  I said that others do trade with Carr.  He suggested then that the energy guys can proceed if they wish to continue trading with Carr.

Rick Farina, 312-441-4420, called me with Larry Anderson and Patty Chambers.

How do you want to proceed?

Sheila


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and be sure to mention GEICO's Discount Code A38. Either way you

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items from the largest independently-owned floral provider in the U.S.

-- and they always guarantee 100% customer satisfaction. So go

ahead and contact Flowers USA today and send the perfect

Valentine's Day gift to someone special.
And as always . . . thank you for insuring with GEICO.

Sincerely,

John McCutcheon
Director, Customer Relations
GEICO


Bill-

  As we have been back and forth for 5 months now, there has to be a decision made on the Montana Imbalance piece for March 2001.
  Kate and I have done everything to find information to support ours or MPC's numbers and we have knocked out most of the issues, however, there are 6 discrepancies that we do not agree on and both we and MPC are standing on our numbers. I have filled out tape requests for these 6.  Please keep in mind, though, that we do not have access to these tapes(and have not had since April). These requests will go to Tim.

  Five disputes are for MW or to add a deal.  These will be deals that we will not be negatively affected by as we will pass them thru to another counterparty.  The only problem I can forsee is that the other counterparty will dispute the 'pass thru', especially since we have already checked out with them.
  Only one dispute (a pricing issue) could potentially leave us with a negative $1500 DPR.

  I need you to make the call today.  Kate has the tape requests in her posession as well as all of the backup information from the research that we have done.

  If I don't hear from you by tomorrow morning, I'll adjust our system according to MPC's numbers until I do.

  Thanks,

  Virginia


see article below
----- Forwarded by Catherine McKalip-Thompson/Enron Communications on
05/22/01 10:59 AM -----

	Joe.Kolb@enron.com
	05/22/01 06:04 AM

		 To: jbkolb@fellowshipbible.org, sethkolb@yahoo.com, Marc.Phillips@enron.com,
Michael.Terraso@enron.com, Catherine McKalip-Thompson/Enron
Communications@Enron Communications, Susan.Worthen@enron.com,
Gavin.Dillingham@enron.com, Don.Stevens@enron.com,
Lauren.Iannarone@enron.com, MABurkha@juno.com
		 cc:
		 Subject: accusations get nasty

excerpt from an article

Joe W. Kolb
Environmental Manager, Enron Corp
713/646-6180      713/345-6164  fax
3AC  1517

----- Forwarded by Joe Kolb/ENRON_DEVELOPMENT on 05/22/2001 08:00 AM -----

Bill

                    Osborne/ENRON@        To:     John
Steenberg/ENRON@enronXgate, Ted Ryther/ENRON@enronXgate,
                    enronXgate            William Kendrick/ENRON@enronXgate,
Joe

Kolb/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
                    05/22/2001
cc:
                    07:54 AM              Subject:     now that's not
nice!

from:

California Blame Game Yields No Score

---

Probes Reveal Little Evidence Suppliers Acted Illegally

By John R. Emshwiller

05/22/2001

The Wall Street Journal

While the energy suppliers are generating "unconscionable profits," the
question remains "whether they are illegal profits," says California
Attorney General Bill Lockyer, who has offered rewards of as much as
hundreds of millions of dollars for information about lawbreaking in the
energy business.

Mr. Lockyer says he believes his office will eventually file civil charges
against suppliers. He would very much like to add criminal counts. "I would
love to personally escort [Enron Corp. Chairman Kenneth] Lay to an 8 x 10
cell that he could share with a tattooed dude who says `Hi my name is
Spike, honey,'" adds Mr. Lockyer. Houston-based Enron is a major
energy-trading company. Like other such firms, Enron has denied wrongdoing
in the California market.

Mark Palmer, Enron's vice president for corporate communications, said Mr.
Lockyer's comment about Mr. Lay "is so counterproductive that it doesn't
merit a response."

bill.osborne@enron.com
Enron Transportation Services
713/646-7889  713/646-7867 fax
3AC 3141


The first loading of ErrDev is complete.   All of the ErrDev for Somerset
have been loaded (29,334 records).  Many duplicates were rejected.

I will be anxious to know if the data in the table meets your needs.

I am working on Mill Run ErrDev as I write this email.


Wanna grab a beer after work?


State's Power Purchases Costlier Than Projected
Tab is $6 million a day over Davis' requests
Lynda Gledhill, Chronicle Sacramento Bureau
Friday, March 16, 2001
,2001 San Francisco Chronicle

Sacramento -- California has spent about $6 million more a day buying
electrical power than originally projected, according to a confidential
document obtained yesterday by The Chronicle.
State power buyers spent $2.7 billion between Jan. 17 and March 11, averaging
$49 million a day. That amounts to about $6 million a day more than lawmakers
figured using Gov. Gray Davis' appropriations requests.
The confidential document was prepared by the Department of Water Resources,
which purchases power on behalf of the state. It was handed to a group of
lawmakers in a subcommittee hearing Wednesday by Water Resources Director Tom
Hannigan.
To the public, the document presents the first day-by-day look at how much
California is spending on power purchases.
Although the document shows more money being spent than originally believed,
it didn't startle any of the handful of senators and Assembly members who saw
it.
"I don't think it was a surprise," said Assemblyman Dick Dickerson, R-
Redding.
Although the state is supposed to recoup the money spent on electricity,
analysts and lawmakers say the open spigot on the state's treasury could
jeopardize the state budget and fiscal well-being in the short and long term.
For example, the state's power spending could jeopardize new education
programs and transportation projects. The nonpartisan Legislative Analyst
warned last month that lawmakers shouldn't count on all the new projects in
Davis' proposed budget.
Also, California has already been placed on a watch list by several credit
rating firms, because of the deep debt that could be incurred in helping the
utilities become financially stable. The watch list typically precedes a
credit rating drop, which would cause the state's interest on bonds and loans
to rise.
"This (power purchasing) has a dampening effect," said Jean Ross, executive
director of the California Budget Project, an independent policy group that
tracks state spending. "Nobody knows where the economy is going, and how the
energy crisis will affect it, so no one will know what the revenues will look
like in the future."
The biggest day of power buying happened on Feb. 16 when the state spent
nearly $81 million for electricity, or $435 per megawatt hour. The smallest
day was March 10 when the state buyers spent $40 million, or $219 per
megawatt hour.
Michael Worm, an analyst with the investment firm Gerald Klauer Mattison &
Co., said what the state paid was in line with current energy prices.
"That's where energy prices more or less have been for quite some time," he
said. "Of course, they are dramatically higher than they used to be."
The governor's office has refused to release information on how much the
state has spent, said Steve Maviglio, Davis' spokesman. Maviglio said if
generators found out how much the state spent the day before, they could
force up the price the next day.
But Assemblyman Tony Strickland, R-Thousand Oaks, said the public had a right
to know how its money way being spent.
"People need to know exactly what it is costing to keep the lights on," he
said. "We want to know the whole story -- not just pieces."
Strickland, along with media organizations including The Chronicle, have
filed public records act requests to obtain information on how much the state
has spent, along with the details of long-term power contracts signed by
Davis.
The original bill that authorized the state to purchase power appropriated
only $500 million, but allowed the governor to use up to $10 billion if
needed for power purchases by notifying lawmakers. The governor's office has
sent five letters since Feb. 5 to lawmakers notifying them that additional
money was needed.
Based on these letters, which in total have requested an additional $2.5
billion, the news media and lawmakers estimated that the state was spending
$43 million a day -- $6 million less than the actual costs shown on the Water
Resources document.
Since the state began purchasing electricity, the health of its budget has
become dependent on a variety of things to come, making it as fragile as a
house of cards.
The money spent on power is taken from the state's general fund and is
supposed to be returned through the issuance of state bonds. The bonds will
be paid for with a portion of the rates that utility customers pay every
month.
-
Tell Us What You Think Can you save 20 percent on your energy usage? Gov.
Gray Davis is offering rebates for Californians who save on power starting in
June, and if you've got a strategy for conserving, The Chronicle wants to
hear it. Contact the Energy Desk, San Francisco Chronicle, 901 Mission St.,
San Francisco, CA 94103; or e- mail energysaver@sfchronicle.com.
--
E-mail Lynda Gledhill at lgledhill@sfchronicle.com.
Paying for Power
These charts show what the state spent for electricity on the spot market and
the average price paid. For the time frame of Jan. 17 through Feb. 14, only
periodic totals and averages were given.
Period             Amount spent
9 p.m. Jan. 17
through Jan. 18      $13,595,121
Jan. 19 - 29         399,000,000
Jan. 29 - 31         136,546,472
Feb. 1 - 12          495,755,000
Feb. 12 - 14         152,087,316
 Chronicle Graphic

,2001 San Francisco Chronicle ? Page?A - 11


yes, well you didn't "get me" at all.  I just sent you a response.

kt

                    "Lucci, Paul
                    T."                   To:     "Karen L. Taylor (E-mail)" <kltaylor@duke-energy.com>
                    <Paul.T.Lucci@        cc:
                    enron.com>            Subject:

                    10/18/01 08:28
                    AM

P.S.  I was kidding about Bob, I want your adrenaline to flow.  I
thought it would help wake you up.  Gotcha!!

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


Great!

 -----Original Message-----
From: 	Osire, Ann
Sent:	Monday, August 20, 2001 4:41 PM
To:	Perlingiere, Debra
Subject:	RE: Ammendment to Master Firm Purchase/Sale Agreement (PG&E Energy Trading-Gas Corporation)

Correct.  We originally sent it to Jennifer Hein who is on an extended vacation, so Ms. Ingrid asked me to forward it to her so she can give it to another attorney to look at it.

 -----Original Message-----
From: 	Perlingiere, Debra
Sent:	Monday, August 20, 2001 4:34 PM
To:	Osire, Ann
Subject:	RE: Ammendment to Master Firm Purchase/Sale Agreement (PG&E Energy Trading-Gas Corporation)

These amendments have already been sent to PG&E.

 -----Original Message-----
From: 	Osire, Ann
Sent:	Monday, August 20, 2001 3:53 PM
To:	'Ingrid.black@neg.pge.com'
Cc:	Dickson, Stacy E.; Perlingiere, Debra; Wallumrod, Ellen; Osire, Ann
Subject:	Ammendment to Master Firm Purchase/Sale Agreement (PG&E Energy Trading-Gas Corporation)

Ms. Ingrid:

Per our telephone conversation, please find attached the above-reference amendment that restates Section 2.4 and in so doing designates ENA as the confirming party.

Please print and have two originals executed and forward same to Debra Perlingiere's attention at:

Enron North America Corp.
Legal Department, EB 3885
1400 Smith Street
Houston, TX 77002

Also, kindly fax a copy of same to my attention at fax# (713) 646-2495.

Please let me know if you have any questions.

Thanks,

Ann
(713) 345-3136

	 << File: PGE Amendment.doc >>


Start Date: 1/10/02; HourAhead hour: 12;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002011012.txt


TASK ASSIGNMENT

Status:		completed

Task Priority:		2
Task Due On:		6/1/2001
Task Start Date:	5/30/2001


This is the info we discussed earlier.

Thanks, Gerald.
---------------------- Forwarded by Gerald Lofton/HOU/ECT on 06/13/2000 04:34
PM ---------------------------

Rusty Belflower@ENRON_DEVELOPMENT
05/22/2000 10:59 AM
To: finchwj@texaco.com, Robert D Morgan@ECT
cc: Gerald Lofton/HOU/ECT@ECT
Subject: Outline for proposed agreement

Bill,
I have revised the following to reflect what we discussed today.

As an afterthought the only additional thing I would like to change is Item #
1 to reflect minimum of twice or as deemed appropriate such as after a bad
storm or when unauthorized "visitors" are reported at the site.

The following is a list of services for Texaco Pipelines LLC to monitor the
leaching of
the new cavern:

A fixed fee of $1,800 per month, invoiced monthly, will provide
Enron with the following services:
1. Visual and physical inspection of the pump, wellhead, and associated
equipment (minimum twice in 24 hours or as deemed appropriate)
2. Pump pad oil as required
3. Backwash well twice a week
4. Communicate/coordinate with DOW on fresh water supply and brine
delivery
5. Routine maintenance and troubleshooting on well and associated
equipment (e.g. turbine meters, valve actuators, etc.)
6. Monitor sump area to avoid overflow
7. Write 3rd party work permits for any contract work being done on the
pump and well area
8. Start and stop fresh water booster pump as needed
9. Block in well in preparation for well logging
10. Obtain monthly electrical meter readings for Enron to verify direct
billing from Coastal Corp. to Enron.
11. Maintain files on well data
12. Forward Enron invoices to Enron in Houston.

For any maintenance activities, special projects, or other service requests
that extend beyond the 2 hours/day covered in the monthly fixed fee, Texaco
Pipelines LLC will invoice at $30/hour.  For contract services or materials
purchased by Texaco Pipelines LLC on behalf of Enron, Texaco will invoice
Enron at cost plus 15%.


Now that SAP is in place, it's time to focus our attention on how to maximize
the investment in SAP for Enron and for each business area.  You have been
selected (whether officially or in an unofficial capacity) to represent a
business area's SAP needs and wants for 2001.  In this capacity, you will be
a major part of building upon Enron's SAP investment.  Your partners in this
adventure will be the ISC.

The Customer Relations solution area of the ISC invites you to join the ISC
leadership to kick off 2001.  We'll be facilitating introductions and
providing an overview of the roles and responsibilities of both the business
area representatives and ISC leadership.

The goals of the kick-off are to:

Clarify the roles and responsibilities of the ISC leadership and the business
area representatives
Prepare the business area representatives for the SAP User Group kick-off in
February
Begin developing the SAP "wish list" for 2001
Have a little fun getting to know one another

An agenda will be sent the week of January 8.  Please join us.

Date:  Wednesday, January 17
Time:  8:45 - 9:45 a.m.
Location:   EB 5C2

Coffee and pastries will be served.  Please RSVP to Margarite Cunningham at
x5-6130.


We are bringing in Associate Candidates for Super Saturday this upcoming weekend and we are looking for associates to help host our Saturday evening dinner at Teala's, 3210 West Dallas.  The dinner will be from 6:00 p.m. - 8:30 p.m.  If you are available to help out please email Dolores Muzzy.  We will also have another Associate Super Saturday on the weekend of November 30th - December 2nd.  We will be in need again of dinner host for the Saturday evening dinner.  It will be at the same time and also at Teala's.  If you are not available this weekend but would like to participate on the next Associate Super Saturday please email Dolores Muzzy as well.

Thanks for your participation.

Dolores


I have re-scheduled this meeting to discuss system changes on "TW Cash for
Fuel" for this Friday, June 16th
at 9:00 to 10:30 in room 4102. Please adjust your schedules.

Thanks Ramona

Ramona Betancourt
06/12/2000 09:55 AM
To: Julia White/ET&S/Enron@ENRON, Sheila Nacey/ET&S/Enron@ENRON, Elizabeth
Brown/ET&S/Enron@ENRON, John Buchanan/ET&S/Enron@ENRON, Cynthia
Rivers/ET&S/Enron@ENRON, Linda Ward/ET&S/Enron@ENRON, Darrell
Schoolcraft/ET&S/Enron@ENRON, Christine Stokes/ET&S/Enron@ENRON, Hasan
Kedwaii/ET&S/Enron@ENRON, David Duff/ET&S/Enron@ENRON, Gerry
Medeles/ET&S/Enron@ENRON, Lynn Blair/ET&S/Enron@ENRON, Lorraine
Lindberg/ET&S/Enron@ENRON, Richard Hanagriff/ET&S/Enron@ENRON, Debbie
Moseley/ET&S/Enron@ENRON, Linda Trevino/ET&S/Enron@ENRON, Jeanne
Licciardo/ET&S/Enron@ENRON
cc: Kevin Hyatt/ET&S/Enron@Enron, TK Lohman/ET&S/Enron@ENRON, Jeffery
Fawcett/ET&S/Enron@ENRON, Susan Scott/ET&S/Enron@ENRON, Steven
January/ET&S/Enron@ENRON, Mary Darveaux/ET&S/Enron@ENRON, Steven
Harris/ET&S/Enron@ENRON

Subject: TW Cash for Fuel meeting

Please plan to attend a follow up meeting to discuss possible system changes
needed to implement TW Cash for fuel tariff changes. The IT staff is in the
process ot trying to prepare a draft estimate for system cost, and have many
questions on this process.  I have attached the  draft of system changes that
I put together last month based on the meeting that we had with marketing.
We will be discussing this list of proposed system requirements to determine
if additional changes are needed.

The meeting is Wednesday 6/14/00 at 9:00 to 10:30 in room 4053A

Thanks Ramona


Here is a draft of the rebuttal testimony of Paul Amirault, exhibit 16.
Please provide comments by the close of business tomorrow-Wednesday. Thank
you, Mike Day

 <<x12834.doc>>

 - x12834.doc