---------------------- Forwarded by Dawn C Kenne/HOU/ECT on 01/29/2001 05:53
PM ---------------------------

"PATTI DESMARAIS" <pmdesmar@earthlink.net> on 01/29/2001 04:41:35 PM
Please respond to pmdesmar@earthlink.net
To: "ANN MCMILLAN" <amcmillan@fscu.org>, "DAWN" <Dawn.c.kenne@enron.com>,
"KAREN GORMAN" <myrtlethe@rcn.com>, "Kathy" <Proverbs19.9@rcn.com>, "KAY"
<garywgarrett@email.msn.com>, "SMITH MARIE-FRANCE A. (JSC-OC)"
<marie-france.a.smith1@jsc.nasa.gov>, "STEVEN &BECKY" <bnorris2@prodigy.net>,
"TERRI" <Conway321@aol.com>, "TRACEY" <TRACEY.STINNETT@FINA.COM>
cc:

Subject: FW: Fwd: [Fwd: Fw: Interesting???]

> [Original Message]
> From: <ASKJMK@aol.com>
> To: <granthgivens@juno.com>; <pmdesmar@earthlink.net>
> Date: 1/28/01 8:09:39 PM
> Subject: Fwd: [Fwd: Fw: Interesting???]
>
>
>

--- pmdesmar@earthlink.net
--- EarthLink: It's your Internet.

 - ATT00001.TXT


---------------------- Forwarded by David W Delainey/HOU/ECT on 08/01/2000
06:10 PM ---------------------------

	From:  Sheila Knudsen @ ENRON                           08/01/2000 05:33 PM

To: David W Delainey/HOU/ECT@ECT, David Oxley/HOU/ECT@ECT
cc: Cindy Skinner/HOU/ECT@ECT, Sheila Walton/HOU/ECT@ECT, Kim
Melodick/HOU/ECT@ECT, Fran L Mayes/HOU/ECT@ECT
Subject: Status Report - ENA NI/Issues - Manager/Director Level

Attached is a report reflecting the status of ENA Manager/Director level
employees who were rated either Needs Improvement or Issues at the mid-year
process.

We will update this report on a weekly basis.

Let me know if you have any questions regarding this - X36628.


Andrea, This looks good.

I have two nits:  First, the street value of our phone book is $1k, not $1.
Also, "loosing" people should be "losing" people.

One other risk is that the descriptions of what people are doing could reveal
confidential business strategies to our competitors because there is no
filter on what employees can/can't put.  In other words, if an employee is
working on developing something within Enron that our competitors do not know
about, expertfinder could provide them with that data/strategy.

One other recommendation (by Scott) was to allow access only from an Enron
facility -- not remotely.  This would manage risk of a person taking a laptop
to a competitor and also would protect against hackers.

Given that employee talent is a major asset, we should find ways to move that
talent around while also protecting it from being picked off from the outside.

Thanks.

Michelle


---------------------- Forwarded by John J Lavorato/Corp/Enron on 12/07/2000
07:58 PM ---------------------------

John Arnold@ECT
12/07/2000 03:12 PM
To: Greg Whalley/HOU/ECT@ECT, John J Lavorato/Corp/Enron@Enron, Louise
Kitchen/HOU/ECT@ECT
cc:

Subject:

A funny story:
Because Access was up 75 cents last night, Nymex made a trading limit of
unchanged to +150.  After 20 minutes of trading, we were at unchanged and the
exchange stopped trading for an hour.
Rappaport, the exchange president, was standing by to make sure everything
was orderly.  Obviously, the locals weren't too happy about the exchange
closing.  One yelled at Rappaport...
"Why don't you take your million dollar bonus and go buy Enron stock"


----- Forwarded by Stacy Walker/Enron Communications on 02/05/01 09:28 AM
-----

	Kelly Kimberly
	Sent by: Stacy Walker
	01/31/01 03:25 PM

		 To: Brian Stanley/EU/Enron@Enron, Dan Bruce/HOU/ECT@ECT, Dave
Schafer/NA/Enron@ENRON, Eddie Clay/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Elyse
Kalmans/Corp/Enron@ENRON, Gene Humphrey/Enron@EnronXGate, George
Wasaff/Enron@EnronXGate, Gregory Adams/Corp/Enron@ENRON, Hap
Boyd/EWC/Enron@Enron, James A Hughes/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Jean Mrha/NA/Enron@ENRON, Jere C Overdyke/HOU/ECT@ECT, Jimmy
Mogal/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mariella
Mahan/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mark Schroeder/LON/ECT@ECT,
Michael Terraso/OTS/Enron@Enron, Miguel Padron/NA/Enron@ENRON, Mitchell
Taylor/Corp/Enron@ENRON, Paula Rieker/Corp/Enron@Enron, Rick Buy/HOU/ECT@ECT,
Rob Walls/NA/Enron@Enron, Shelley Corman/Enron@EnronXGate, Steven J
Kean/NA/Enron@ENRON, Tim DeSpain/HOU/ECT@ECT, Vicki Sharp/HOU/EES@EES
		 cc: Kenneth Lay/Corp/Enron@ENRON, Rosalee Fleming/Corp/Enron@ENRON, Jeff
Skilling/Corp/Enron@ENRON, Sherri Sera/Corp/Enron@ENRON, Nicola
Blancke/EU/Enron@Enron, Mary Weatherstone/Enron@EnronXGate, Lisa
Costello/NA/Enron@Enron, Barbara Hooks/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Zulie Flores/Corp/Enron@ENRON, Bert Frazier/Enron@EnronXGate, Karina
Prizont/Enron@EnronXGate, Dortha Gray/GPGFIN/Enron@Enron, Connie
Blackwood/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Melissa Jones/NA/Enron@ENRON,
Donna Baker/HOU/ECT@ECT, Leena Mathews/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Isabel Romero/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Beverley
Ashcroft/LON/ECT@ECT, Laura Glenn/OTS/Enron@ENRON, Karen E
Campos/NA/Enron@ENRON, Rosario Boling/Corp/Enron@ENRON, Laura
Valencia/Corp/Enron@ENRON, Karen K Heathman/HOU/ECT@ECT, Debra
Hicks/NA/Enron@Enron, Ruth Mann/Enron@EnronXGate, Maureen
McVicker/NA/Enron@ENRON, Marion Sczykutowicz/HOU/ECT@ECT, Michelle
Maynard/HOU/EES@EES, (bcc: Stacy Walker/Enron Communications)
		 Subject: Corporate Responsibility Task Force meeting

Attached are the details of the next Corporate Responsibility Task Force
meeting set for next Tuesday, February 6, from 9:00 to 11:00 a.m. CST in
Houston.


---------------------- Forwarded by Susan J Mara/SFO/EES on 09/27/2000 09:12
AM ---------------------------

Susan J Mara
09/27/2000 11:11 AM
To: Douglas Condon/SFO/EES@EES
cc: Martin Wenzel/SFO/HOU/EES@EES, James M Wood/HOU/EES@EES, George
Waidelich/SFO/EES@EES, Gary Mirich/HOU/EES@EES, Mona L Petrochko/SFO/EES@EES,
Jeff Dasovich/SFO/EES@EES, John Woodman/SFO/EES@EES, Edward Hamb/HOU/EES@EES,
Dennis Benevides/HOU/EES@EES, Lyle White/HOU/EES@EES, James D
Steffes/NA/Enron@Enron
Subject: Re: Risk Management 101

Don't you love Bob Glynn referring to AB 1890 as providing "Mutually Assured
Destruction"?

Douglas Condon
09/27/2000 10:33 AM
To: Martin Wenzel/SFO/HOU/EES@EES, James M Wood/HOU/EES@EES, George
Waidelich/SFO/EES@EES, Gary Mirich/HOU/EES@EES, Mona L Petrochko/SFO/EES@EES,
Susan J Mara/SFO/EES@EES, Jeff Dasovich/SFO/EES@EES, John
Woodman/SFO/EES@EES, Edward Hamb/HOU/EES@EES, Dennis Benevides, Lyle
White/HOU/EES@EES
cc:
Subject: Risk Management 101

Where were these discussions when AB1890 was being created?

                   California Utilities' Losses
                   On Electricity Pose Risk

                   By REBECCA SMITH
                   Staff Reporter of THE WALL STREET JOURNAL

                   California's two biggest utilities are losing so much
money buying electricity
                   in the state's deregulated market that they have run up
deficits equivalent to
                   half their net worth in just four months.

                   If the cost of wholesale power continues to exceed the
price these utilities
                   are allowed to bill their customers, as currently seems
likely, they could
                   become technically insolvent sometime next year. That
would put pressure
                   on regulators to orchestrate a multibillion-dollar public
bailout, similar to
                   the "too big to fail'' response that in the past pushed
governments to rescue
                   banks.

                   Such a scenario is quietly being discussed by bond-rating
concerns that
                   recently reduced their credit outlooks for Pacific Gas &
Electric Co., a unit
                   of San Francisco-based PG&E Corp., and Southern California
Edison, a
                   unit of Edison International of Rosemead, Calif. Bond-
rating concerns say
                   they aren't sure how much additional debt can be borne by
the two
                   affected utilities before they will have difficulty paying
their bills.

                                        "If this is just a seasonal
aberration, the utilities
                                        can get through it," says Lori
Woodland,
                                        analyst for Fitch IBCA. "If it goes
on for six or
                                        nine months, it's a very serious
situation."
                                        Adds A.J. Sabatelle, senior credit
officer at
                                        Moody's Investors Service Inc.: "At
some
                                        point, you have a financial crisis."

                                        The utilities say they are having no
difficulty
                                        meeting expenses and don't envision
problems
                                        in servicing their debts. But they
are vigorously
                   lobbying state and federal regulators to change the rules
of the game,
                   hoping somehow to raise rates to make up for the
shortfall. The California
                   utilities' experience may be a harbinger of what could
happen in other
                   states where wholesale power prices have surpassed the
amount that
                   utilities are allowed to charge their ratepayers.

                   For now, utilities are making ends meet by going to the
financial markets to
                   borrow money. PG&E, a giant utility that serves one out of
every 20
                   Americans, is seeking approval to increase its debt
capacity by $1.4
                   billion. It is borrowing $200 million, while Edison is
tapping $250 million
                   from the commercial paper market. "This is going to be a
long, tough
                   road," says Jim Scilacci, chief financial officer for
Southern California
                   Edison.

                   Today's situation represents a complete turnabout from
what was expected
                   when California deregulated its energy market on March 31,
1998, which
                   opened electricity pricing to competition. California
tried to give its utilities
                   a competitive edge nationally by deregulating faster than
other states and
                   by creating a mechanism to allow investor-owned utilities,
such as PG&E
                   and Edison, to quickly pay down debts incurred to serve
customers under
                   the old regulatory system.

                   To do this, the state legislature set
                   retail rates at high levels, which, at
                   first, generated fat surpluses for the
                   utilities. As the money piled up,
                   utilities used it to pay down debts for
                   generation facilities that were
                   otherwise unprofitable in the new
                   deregulated world. By the end of this
                   June, PG&E and Edison together
                   had collected more than $12 billion
                   and were on track to finish paying
                   down debts well ahead of the March
                   31, 2002, deadline set by the
                   legislature. At that point, rate freezes
                   were to end and retail prices were to
                   fluctuate with the market.

                   But all that went out the window in June, when wholesale
power prices
                   surged, topping the rates the utilities were allowed to
charge retail
                   customers. Average prices at state-sanctioned energy
markets were four
                   to five times the prices of a year earlier, and three to
four times the level
                   utilities could charge customers.

                   The accumulated shortfall has been so enormous at PG&E,
that analysts
                   expect its deficit to exceed $3 billion by Oct. 31, more
than half its
                   shareholder equity of $5.7 billion, which is defined as
assets minus
                   liabilities. Southern California Edison finished August
with a deficit of $2
                   billion, equivalent to almost two-thirds its net worth of
$3.2 billion. The
                   utilities, though they have been accumulating deficits,
aren't required to
                   report these as losses on their earnings statements.

                   That leaves utilities in a bind. They want to end the rate
freeze to be able to
                   pass on the real cost of electricity to consumers. But
should the freeze end
                   before the statutory deadline of 2002, they get clobbered.
That is because
                   they will immediately have to book a loss on their
power-purchase deficits.
                   What's more, they can't use the proceeds from planned
power-plant sales
                   to cover those losses; instead, should the freeze end,
they will be obliged
                   to refund some of the proceeds to ratepayers. In PG&E's
case, the refunds
                   could total $500 million, while in Edison's case, the
amount is $254 million.

                   Publicly at least, utility executives insist a mechanism
will be found to let
                   them recoup the money spent on electricity.

                   Consumer advocates are gearing up for the fight. Nettie
Hoge, executive
                   director for San Francisco consumer group Utility Reform
Network, says
                   ratepayers shouldn't end up footing the bill for a deal
cut by utilities that
                   benefited them before prices shot up.

                   Utility executives are now distancing themselves from the
legislation that
                   got them into such a mess, which was drafted with their
assistance. PG&E
                   Chairman Robert Glynn says it is best not to "overanalyze"
the "old deal."
                   Instead, he says, regulators and legislators should sit
down with utilities and
                   construct a new agreement, since "it's in the broad
interests of the state not
                   to have critical energy infrastructure look like a leper."

                   Mr. Glynn says the current deal offers "mutually assured
destruction" to
                   both utilities and ratepayers. Something must be done, he
says, or
                   consumers throughout most of the state will experience "a
San Diego-style
                   rate shock." The utility serving that city, San Diego Gas
& Electric Co.,
                   ended its freeze a year ago and began passing wholesale
power costs
                   directly through to ratepayers. Legislators intervened
this summer,
                   however, and temporarily capped retail rates when monthly
power bills
                   nearly tripled. The utility, a unit of Sempra Energy, is
also accumulating a
                   deficit as a result.

                   So long as banks and bond markets believe the utilities
will be repaid, they
                   will be able to borrow, analysts say. "Until we hear
politicians of
                   consequence state otherwise, our position is that we
believe the utilities will
                   be made whole," says Richard Cortright, a director at
Standard & Poor's
                   corporate ratings group.

                   But that opinion could change if it looks like the
utilities will have to
                   swallow a big loss. The result: lower credit ratings that
would raise
                   borrowing costs and could trigger a downward spiral.
"You're talking
                   about top-rated companies, though," said Ms. Woodland of
Fitch IBCA.
                   "To get to insolvency, a lot would have to happen."

                   In the meantime, utilities are doing all they can to
control the hemorrhaging.
                   They have gotten authority from regulators to buy more
power under
                   long-term contracts at fixed prices, reducing their
vulnerability to
                   spot-market volatility. And they have petitioned federal
regulators to
                   declare California's market so badly flawed that
generators should be
                   denied market pricing and, even, ordered to pay refunds.

                   Nevertheless, several forces are working against them.
Although they can
                   sign bilateral contracts, prices remain high for those as
well. What's more,
                   they can't buy less power than their customers need. If
they don't buy
                   enough, the California Independent System Operator, the
organization
                   responsible for reliability, will step in and make
purchases for them and
                   send them the bill.

                   Perhaps the biggest problem facing PG&E and Edison,
though, is one of
                   timing. The California legislature is out of session until
December, and
                   regulators haven't even really started to address the
issue formally. In the
                   meantime, the utilities' deficit is growing by tens of
millions of dollars daily.

                   Write to Rebecca Smith at rebecca.smith@wsj.com


Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com
----- Forwarded by Carol St Clair/HOU/ECT on 06/07/2001 08:58 AM -----

	Jeffrey T Hodge
	06/06/2001 10:07 AM

		 To: Carol St Clair/HOU/ECT@ECT
		 cc:
		 Subject: Mid Market Power Form/ENA Changes

Carol:

With respect to the setoff issue, I would prefer including the language.  We
could always negotiate it away on a case by case basis if it really does not
apply.

Sorry it took so long to reply.

Jeff


yes, i got the fax.  what are you interested in doing?

	RusAmArts@aol.com
	01/31/2001 03:15 PM

		 To: jshankm@enron.com
		 cc:
		 Subject: Rina Kirshner

JUST WANTED TO CHECK WHETHER YOUR RECEIVED MY FAX YESTERDAY.  PLEASE LET ME
KNOW.
REGARDS,
RINA


Group,
Please put all information from the previous day (ie printed dispatch, EPE preschedulng sheet) into the appropriate folder on Kate Symes' old desk.
Thanks,
Bill


Cooper,

I hope your move on the weekend went well. How are you liking the new digs?

I read the "Powers report" on Enron on the weekend... basically just
checking for my name.... didn't find it. One of the highlights was the fact
that, in one of the many deals with the partnerships, Enron actually bought
put options on Enron stock.

I hope things go well at UBS. My number is 213-6004. I'll probably give you
a shout re: poker sometime in Feb (not sure when, though)

Bill


BEn,

Here is the schedule I currently have for TECO. Would you mind having a look
and telling me if it takes into account the debt reserve?
thanks

yvan


Rick:   I'm not sure the Law Conference should count, but it's your call.
Lisa
----- Forwarded by Lisa Yoho/NA/Enron on 05/09/2001 08:47 AM -----

	Eric Benson
	05/09/2001 08:16 AM

		 To: Lisa Yoho/NA/Enron@Enron
		 cc:
		 Subject: Training Program Status Report - UPDATED

Lisa -

attached is an updated status report on training programs taken by EGA
employees; I received a couple responses to the email we sent yesterday and
have made note of those changes on this report

I got a couple of emails from people confirming that the Enron Law Conference
counts toward the 3 course requirement; it's my understanding that attendance
at the Law Conference would count but will need you and/or Rick to confirm;
right now I've counted it

I'll keep you updated as I learn of new courses taken, etc.

Eric


Mike:
A few thoughts:
Conference calls on issues of this size don't generally seem very constructive, and I'd suggest that we push for a face-to-face with Edison.
If the Legislature doesn't get the MOU out well in advance of September 14th, Edison won't be focused, and I'd suggest that we try and reschedule.
No matter the forum, the proposal will be tough to get through, even though it makes alot of economic sense.  It's a big change, and big changes don't come easy, no matter the benefits.  That said, no shots, no ducks.  We ought to make a push.
The proposal may not be contingent on Legislation. It might be possible to make it happen at the California PUC.
Assignment to DWR would be significant and might require legislation (need to ask a QF lawyer).
The proposal makes sense for both the IOUs and DWR, since both want as much "headroom" as possible in rates to cover their respective revenue requirements.
Given the pending rate agreement between the CA PUC and DWR, and the utilities' messed-up financial position, DWR is clearly the preferable counter party from credit perspective.
All that said, none of the above matters much unless the utility, a critical mass of QFs and the PUC's consumer advocate ("ORA") buy into the idea.
I'd propose that we continue with Edison. If Edison bites, then go jointly with Edison to persuade the QFs. If the QFs bite, then go jointly with Edison and QF to try to persuade ORA.
On the issue of sleeving through the IOU or DWR, it seems useful to remain flexible on that, though absent general support from the IOUs, QFs and ORA, the entity will be academic.

Some preliminary thoughts.  Happy to discuss further.

Best,
Jeff

 -----Original Message-----
From: 	Etringer, Michael
Sent:	Tuesday, August 28, 2001 10:44 AM
To:	Dasovich, Jeff
Cc:	Parquet, David; Calger, Christopher F.; Tribolet, Michael
Subject:	Timing for QF meeting with Edison

Jeff - I believe we currently on scheduled for a September 13th conference call with John Fielder to discuss QF proposals.  One of the concerns I have is that the timing is such that it is unlikely, given the legislative session end of September 15th(??), that we are going to get much traction.  (Aside from the fact that it seems difficult to convey the nuances of this deal over a conference call).  It may not be relevant in this environment, but this idea makes sense.  It is an issue of who will listen and who will act.  It seems to make sense to propose the structure to DWR.  Given the dilemma of how to marry both the Utilities' revenue requirement with that of DWRs on a go forward basis, anything that proposes to lower a portion of either of these revenue demands should be addressed.

The proposal to DWR could go as follows:  Either  Edison and PG&E could separately participate in the dual auction process to buy out the QF agreement and replace with market energy or the contracts could be assigned to DWR and DWR could conduct the dual auction.  Assignment of the contracts to DWR would be contingent on a successful auction process.  A buyout of the high priced QF agreements would provide for added head room under the rate caps and thus provide a basis for the higher cost DWR contracts.

In addition, it appears for our analysis, the savings would be such that you could roll in the outstanding debt owed to the QFs and not exceed the existing payment to the QF under the current capacity plus SRAC pricing.  As such it seems that it could be construed as a restructuring of contracts and not a BAIL OUT of SCE.  (I say this because my understanding of SB 78 is that a portion of the debt is to pay the back payments owed QFs.  Is this portion of the bill being viewed by the radical contingent as a bail out?)

Let me know your thoughts.

Michael Etringer
West Power Origination
Phone: 503-464-3836
Cellular: 503-701-4516


Here's comments from both Frank and I;

Add:

Broadband: Cynthia Harkness

Power:  Shari Stack (but not certain of role)

NNG Pipeline Capacity:  Tony Pryor

Our apologies for taking so long to get back to you.

From: Tana Jones on 09/25/2000 10:52 AM
To: Frank L Davis/HOU/ECT@ECT, Dale Neuner/HOU/ECT@ECT
cc:
Subject: Legal Online Contact List

Leslie Hansen asked me to forward to you our draft list of Legal contacts for
online trading issues, and see if there is anyone you deal with on a regular
basis that I may not know of that we need to add to the list.


Excellent.  Thank you.

bbo

At 03:19 PM 10/10/00 -0500, you wrote:

>Barbara,
>
>Noon will be fine. we shall just use the lunch hour.
>
>Vince
>
>
>
>
>
>
>Barbara Ostdiek <ostdiek@rice.edu> on 10/10/2000 12:53:34 PM
>
>To:   Vince.J.Kaminski@enron.com (Vince Kaminski)
>cc:
>Subject:  Bollerslev Seminar
>
>
>Vince:
>
>I don't know if you noticed that we have Tim Bollerslev on the seminar
>schedule for December 8.  In order for Tim to get back to North Carolina on
>Friday, we need to move the seminar time.  I thought that the Enron folks
>might be interested in his talk so I wanted to get you input on a new
>time.  I know that 3:30 is best but would over the noon hour be second best
>or would 2:00 be better?
>
>Thanks.
>
>bbo
>
>
>
>


Mike,

I'm glad to hear things are going well!  Everything at PwC is going pretty
good.  I'm still traveling quite a bit, today I'm in Indianapolis.  Laura
is keeping pretty busy at KPMG and working on re-decorating the house.
She's been talking a lot about having a baby so I'm not sure how long it'll
be before we have a little Duvall running around.  Hey, I just got a
message from Vogel on Pig Dinner, are you  planning on going this year?
Let me know because I'm going to try to make it finally, even though it's
on the worst day of the year for a tax accountant (April 13th).

Take Care,

Devin
To:       Devin C. Hall/US/TLS/PwC@Americas-US
cc:
From:     Mike.Carson@enron.com
Date:     01/28/2002 07:33:19 AM
Subject:  RE:

Doing good.... My division  (Wholsale Energy Trading) just got sold to UBS
Warburg, a swiss investment bank....  I will start work for them in about
two weeks or so.   Other than that every thing is cool,,, Heather and I are
getting ready for a trip to Aspen  in next couple weeks and the "Little
Man" is still growing like a weed!

How are things in KC??

MC

    -----Original Message-----
   From:   <devin.c.hall@us.pwcglobal.com>@ENRON
   Sent:   Saturday, January 26, 2002 2:08 PM
   To:     Carson, Mike
   Subject:

   Mike,

   I was wondering how your job was going.  I've obviously heard all the
   media
   hype surrounding your company.  Please send me a email with an update.

   Thanks,

   Devin
   ----------------------------------------------------------------
   The information transmitted is intended only for the person or entity to
   which it is addressed and may contain confidential and/or privileged
   material.  Any review, retransmission, dissemination or other use of, or
   taking of any action in reliance upon, this information by persons or
   entities other than the intended recipient is prohibited.   If you
   received
   this in error, please contact the sender and delete the material from
   any
   computer.

**********************************************************************
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.
**********************************************************************

----------------------------------------------------------------
The information transmitted is intended only for the person or entity to
which it is addressed and may contain confidential and/or privileged
material.  Any review, retransmission, dissemination or other use of, or
taking of any action in reliance upon, this information by persons or
entities other than the intended recipient is prohibited.   If you received
this in error, please contact the sender and delete the material from any
computer.


We have received the executed Confidentiality Agreement with the referenced
Counterparty dated May 12, 2000.  Copies will be sent to Dave Samuels and
Teresa Smith.


Jeff Porter is the CES person responsible for looking at their transport.
Last week, he said he was working on their transport numbers.  Also,
yesterday I informed Jeff about some transport CGAS had listed on the EBB.


Take it easy.  I tried to play last week at a company outing and can barely
walk now.  It is hell getting old!!  Happy Thanksgiving.


yep.

	Joseph Alamo
	07/10/2001 07:31 PM

		 To: Jeff Dasovich/NA/Enron, Susan J Mara/NA/Enron
		 cc:
		 Subject: Re: Weekly Staff meeting?

so -- 8:30 Thursday okay with both of you??

From: Jeff Dasovich on 07/10/2001 12:07 PM CDT
Sent by: Jeff Dasovich
To: Susan J Mara/NA/Enron@ENRON
cc: Alan Comnes/ENRON@enronXgate, Joseph Alamo/NA/Enron@ENRON, Paul
Kaufman/Enron@EnronXGate

Subject: Re: Weekly Staff meeting?

That's true, but we're trying to find substantive reasons for having the
meeting....

	Susan J Mara
	07/10/2001 12:05 PM

		 To: Joseph Alamo/NA/Enron@Enron
		 cc: Alan Comnes/ENRON@enronXgate, Jeff Dasovich/NA/Enron@Enron
		 Subject: Re: Weekly Staff meeting?

Paul specifically told us to have one

Sue Mara
Enron Corp.
Tel: (415) 782-7802
Fax:(415) 782-7854

	Joseph Alamo
	07/10/2001 09:41 AM

		 To: Susan J Mara/NA/Enron, Jeff Dasovich/NA/Enron, Alan
Comnes/ENRON@enronXgate
		 cc:
		 Subject: Weekly Staff meeting?

Did you folks want to try to have a Staff meeting/call this week?
or would you rather let it go until Paul returns?

Pls advise,
Thanks,
Joseph


Vince,

Please see below some of the ideas being bounced, FYI.  Please keep this
confidential.

The unused capacity in Maharashtra should be dispatched on a merchant basis,
ON BEHALF OF MSEB to any customers outside MSEB's current purview.  I would
like us to look at the whole issue as one of MSEB's poor credit, and hence (
as Jeff pointed out on the call), one where we need to identify all deep
pockets in and out of Maharashtra.
Secondly, there is (as Shubh and I had pointed out) the ability to evacuate
about 700-1000 MW to customers other than MSEB.  The challege is - at what
price, and in coordination with which agencies.  As always, in India your
greatest challenge will be in dealing with govt. agencies.
Another point to consider is that in-all we have about 5-7 customers
identified.  Will all the customers we have earmarked bite ???  This is the
reason why systems need to be set up with a bulletin board on pricing 10-15
day power on the screens of the different SEBs we can connect up with.  This
also substantially gets around the credit quality issue, as this would be an
arrangement akin to cash-and-carry.  I see a lot of hope for such a
strategy.  I do not see much hope for a strategy of selling blocks of power
to either NTPC or PTC.  I would agree however, that we not put all our eggs
in one basket, and hence you could designate a team to look into the NTPC
sale issue inparallel.
In order to set up the trading sytems, however, we need to start by the end
of Q1 2001, and just start doing small deals where we break even, simply to
test the waters and introduce liquidity into the market.
Hand-in-hand with this we need a fuel risk management strategy, as I have
been pushing for.  For this to happen, we need to get the Special Import
Licence reinstated.  If that is not possible, we need to lobby with the
highest authorities within govt. and RBi to allow for hedging, irrespective
of whether we have an SIL.  The discussions being held with IOC are therefore
very important in this regard, and I am going to get Anshuman and Mukesh
involved with the same.
Finally, I do not see much hope for your strategy of asking ENE management
for $75 Million to build transmission lines in a country where the regulatory
framework on transmission access is even less defined and understood than the
generation side of the equation.  I would refrain from stating this in any
senior management forum until we are able to clearly demonstrate the
cost-benefit of this.  I have some ideas on that side which I need to develop
further.

Regards,
Sandeep.


Mark:

What is our policy about giving on arbitration.  This is a federal entity
that has said they cannot agree to arbitration.  They have agreed to the
language set forth in the document attached below.

Please advise.

Leslie
----- Forwarded by Leslie Hansen/HOU/ECT on 08/24/2000 02:59 PM -----

	"Kathleen (Kass) Portra" <Portra@wapa.gov>
	08/24/2000 03:01 PM

		 To: <Leslie.Hansen@enron.com>
		 cc:
		 Subject: Re: trading agreement

Leslie
I know this will cause delays, but this agency does not have authority to
enter into binding arbitration.  Apparently some agencies do have that
authority.  I have attached 2 files.  One is with the changes highlighted and
the other is a clean copy of what we would be willing to sign.  Please let me
know what sort of timeframe I can expect on a response to this proposal.

Thanks - Kass Portra

 - Western Area Power Admin ETAkp.doc
 - Western Area Power Admin ETArjk.doc


Yours!
---------------------- Forwarded by David W Delainey/HOU/ECT on 01/29/2001
01:54 PM ---------------------------

Janet R Dietrich
01/29/2001 09:17 AM
To: David W Delainey/HOU/ECT@ECT
cc:
Subject: Options Trader

Dave, East power trading does not have any options capability now. We don't
price options very well and we have little capability to manage them
effectively. This will be a huge hindrance to deals this year. I would really
appreciate your focus on this.
---------------------- Forwarded by Janet R Dietrich/HOU/ECT on 01/29/2001
09:10 AM ---------------------------

Janet R Dietrich
01/29/2001 09:10 AM
To: John J Lavorato/Corp/Enron
cc:
Subject: Options Trader

Hey John. Have you worked out the green card issues with the TXU options
trader? What's the status and timeline for getting him here? Also, Bruce
Sukaly will be talking with you about Steve Wang's option's background. I
think you should talk with Steve and decide whether he can fill some of our
voids from an option pricing/management standpoint.

Thanks.


I don't have a problem with not back dating it. I'll see if there's a
sesitivity to it from ABB's side.

Herman Manis
07/06/2000 08:06 AM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: ABB Agreement for Review

If possible, regarding comment for section 7.1, could we make the date
current?  Back dating to the first option agreement may be construed to be a
deposit.  What do you think?
---------------------- Forwarded by Herman Manis/Corp/Enron on 07/06/2000
08:02 AM ---------------------------
From: Lisa Bills on 07/05/2000 09:02 PM
To: Kay Mann/Corp/Enron@Enron
cc: Ben Jacoby/HOU/ECT@ECT, Herman Manis/Corp/Enron@ENRON, Matthew
Berry/HOU/ECT@ECT, Carl Tricoli/Corp/Enron@Enron, Thomas M
Suffield/Corp/Enron@ENRON, Matthew F Gockerman/HOU/ECT@ECT, Roseann
Engeldorf/Corp/Enron@ENRON, robtaylor@andrews-kurth.com
Subject: ABB Agreement for Review

Here are my comments:

Assignment Language:
in (i) "WestLB" should be changed to "Purchaser"
in (ii) - although this is a business point I think it is important to
question: why should we provide credit support to the JV/partnership/llc when
we are required to keep a min. 19.5% interest?  This is not a GE requirement
and it is a doubling up of Enron-type support which will make the venture
much more expensive to finance.

Purchase Agreement:
Def. of Business Day:  let's add New York since this is where WestLB funds
from.
2.1(B):  It should be "Agent's" person to approve change orders, not
"Purchaser's"
2.2:  "Purchaser" should be used rather than "WestLB" since it is not as
limiting.
7.1:  Why is the Effective Date backdated to the date of the first option
agreement execution date?
Exhibit N - Purchase Amount Reconciliation:  The total amount of the three
purchase amounts is $78M less than the same amounts detailed in the latest
Option Agreement.  I'd like to understand why this is, especially in light of
the Effective Date in 7.1, to insure that AA won't determine that the Option
Premiums paid were somehow a deposit or credit toward the purchase price of
the transformers.

Regards, Lisa
---------------------- Forwarded by Lisa Bills/Corp/Enron on 07/05/2000 08:45
PM ---------------------------

Matthew Berry@ECT
07/05/2000 02:43 PM
To: Lisa Bills/Corp/Enron@ENRON
cc:

Subject: ABB Agreement for Review

---------------------- Forwarded by Matthew Berry/HOU/ECT on 07/05/2000 03:42
PM ---------------------------

	From:  Kay Mann @ ENRON                           07/05/2000 02:36 PM

To: Herman Manis/Corp/Enron@ENRON, Matthew Berry/HOU/ECT@ECT, Carl
Tricoli/Corp/Enron@Enron, Thomas M Suffield/Corp/Enron@ENRON, Matthew F
Gockerman/HOU/ECT@ECT, Ben Jacoby/HOU/ECT@ECT
cc:
Subject: ABB Agreement for Review

Gentlemen,

I've made some changes to the assignment language of the ABB contract. The
language is not identical to the LM 6000 language, but is substantially the
same, and in some respects better.  Please let me know if you have any
substantive comments:

I am also attaching the current draft of the contract.  It is being revised
to incorporate delivery dates and to clarify the scope to include
installation obligations of ABB (haul and install).  Also, in the fourth line
of the first paragraph, the word "Purchaser" will be added to the
parenthetical, after "WestLB". Any other changes should be very minor or
technical.

We are trying to get this finished this week.  Please let me know if you have
any questions or comments.

Kay

---------------------- Forwarded by Kay Mann/Corp/Enron on 07/05/2000 02:25
PM ---------------------------
From: Kathleen Clark@ENRON_DEVELOPMENT on 06/30/2000 01:40 PM
To: ben.jacoby@enron.com, kay.mann@enron.com
cc:

Subject: ABB Agreement for Review

Attached is the latest ABB agreement for your review:


Hi Patrice,

I have an issue with Edison Mission and I saw your name on a deal (1094593) from October so I thought I could ask you about it. It looks like the deals are on a month to month basis. They paid us $5M back in February and each month we deduct their invoice from this balance. They called Max in Credit (x.58261) and want their money back. So, I am fully prepared to wire them their money back, I just want to make sure all the people involved are aware. Credit is going to request an invoice from them stating what we owe them. When that comes in someone in credit will sign off on this request. I just want to make the front-end aware of what's going on. Do you know who else does these deals? Thanks for your help

Have a GREAT Thanksgiving.....you may already be gone......if so, lucky you!!!!

Valerie Vela
Specialist, Gas Settlements
Enron Net Works LLC
t: 713.345.8749
f: 713.646.8420


Tony Richardson and Wayne Chrebet for Antonio Freeman?


I wished to review the filing (especially the TOA) and comment along the
lines we have before.  Unfortunately, I did not have time to read the filing
before leaving for vacation.  I left the filing on my desk.  Hope you had a
happy holiday.  I don't know if Lysa told you but my mother in law died the
day before Christmas so I will be taking off Jan. 4 & 5th to attend the
memorial on the East Coast.  I'll be checking my E-mails periodically.

Alan Comnes
12/22/2000 12:43 PM
To: "Ronald Carroll" <rcarroll@bracepatt.com>, Mary Hain/HOU/ECT@ECT
cc: Steve Walton/HOU/ECT@ECT
Subject: RTO West

I have not read the filings summarized below.

I am assuming we will not be protesting/intervening but will be focusing on
Phase II.  Any thoughts otherwise?

Alan Comnes

Avista Corporation, the Bonneville Power Administration, Idaho Power Company,
The Montana Power Company, Nevada Power Company, PacifiCorp, Portland General
Electric Company, Puget Sound Energy, Inc., and Sierra Pacific Power Company,
RT01-35-000. Amended Supplemental Compliance Filing. On December 1, Avista
Corp., the Bonneville Power Administration, Idaho Power Co., The Montana
Power Co., Nevada Power Co., PacifiCorp, Portland General Electric Co., Puget
Sound Energy, Inc., and Sierra Pacific Power Co. (collectively, Concurring
Utilities) file an &Amended Supplemental Compliance Filing and Request for
Declaratory Order pursuant to FERC's Order No. 2000.  The Concurring
Utilities stated that this filing amends a previous filing made on October
23, 2000, in compliance with Order No. 2000.  They contended that the October
23 filing provided Stage 1, only a subset of information required to complete
the proposal related to the formation of RTO West.  They assert that Stage 2
will include the balance of materials and information needed to complete the
RTO West proposal and will be submitted to FERC in Spring 2001. Filing
noticed December 15. Protests due January 16, 2001.


I should mention 900am as the time!

	Enron North America Corp.

	From:  Kay Mann                           09/15/2000 04:36 PM

To: Christi L Nicolay/HOU/ECT@ECT, Mitch Robinson/Corp/Enron@Enron, Larry
Soderquist/HOU/ECT@ECT, Reagan Rorschach/NA/Enron@Enron, nwodka@bracepatt.com
cc: Heather Kroll/HOU/ECT@ECT, Ozzie Pagan/HOU/ECT@ECT, Ben
Jacoby/HOU/ECT@ECT

Subject: VEPCO interconnection agreement

How does everybody look for a discussion concerning the VEPCO interconnection
agreement on Tuesday, Sept 19?

I've checked with Christi, Mitch and Reagan, so they don't need to confirm.

Details to follow...

Thanks,

Kay


I would like to set up a meeting with one of you to talk about EOL
transportation business.  Lauri and I could come by and show you what we
intend to do and some of the information we have gathered.  We will need your
help to get a GTC / contract together that will cover the business we intend
to do.  EDG


---------------------- Forwarded by Susan M Scott/HOU/ECT on 03/30/2000 02:12
PM ---------------------------

Stephen Plauche@ENRON
03/30/2000 01:11 PM
To: Susan M Scott/HOU/ECT@ECT
cc:
Subject: Take me out to the ...

Susan,
 I find that you have a midly attractive sense of humor and a cynical side to
you that separates you from the rest of the tribe.  Its funny you mentioned
the Astros game.  I was actually thinking of inviting you (since I have two
tickets to tonight's game and all) but you have turned me down so many times
in the past I decided to go with a more conservative pick.  Anyhow, since I
absolutely detest Woody's and all of my bold suggestions for other venues
consistently gets dissed by the group's brain trust, please take me off of
this distribution list.  Have a nice day.

Steve

Susan M Scott@ECT
03/30/2000 12:38 PM
To: val.generes@ac.com, Timothy Blanchard/HOU/EES@EES, Robert
Norton/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Benjamin
Freeman/Corp/Enron@ENRON, Lisa Gillette/HOU/ECT@ECT, Kyle Etter/HOU/ECT@ECT,
Victor Guggenheim/HOU/ECT@ECT, Daniel Falcone/Corp/Enron@ENRON, Shanna
Husser/Corp/Enron@Enron, Yvette Parker/Corp/Enron@ENRON, Christopher
Coffman/Corp/Enron@Enron, Stephen Plauche/Corp/Enron@Enron, Dan
Feather/Enron_Development@ENRON_DEVELOPMENT, Eric Bass/HOU/ECT@ECT, Nick
Hiemstra/HOU/ECT@ECT, Chad Landry/HOU/ECT@ECT, Matthew Lenhart/HOU/ECT@ECT,
Misti Day/HOU/ECT@ECT, Benjamin Markey/HOU/ECT@ECT, Carrie
Southard/HOU/ECT@ECT, Christa Winfrey/HOU/ECT@ECT, Brian Hoskins/HOU/ECT@ECT,
Bryan Hull/HOU/ECT@ECT, Heather Alon/HOU/ECT@ECT, Sheetal Patel/HOU/ECT@ECT,
Hang Bui/HOU/ECT@ECT, Kreg Hall/HOU/ECT@ECT, Michael Kolman/HOU/ECT@ECT,
Mason Hamlin/HOU/ECT@ECT, Jennifer Reside/HOU/ECT@ECT, Tobin
Carlson/HOU/ECT@ECT, Alicia Perkins/HOU/ECT@ECT, Nicholas J
Stephan/HOU/ECT@ECT, Lisa Gillette/HOU/ECT@ECT, Kyle Etter/HOU/ECT@ECT,
Victor Guggenheim/HOU/ECT@ECT, Sunil Dalal/Corp/Enron@ENRON, Wilson
Kriegel/Corp/Enron@ENRON
cc:

Subject: Take me out to the ...

Oh wait, I can't go to the ball game because I couldn't take a day off from
work to stand in the Enron lobby (or send my secretary to do it for me).

For all of you who have managed to snag tickets for tonight's game
congratulations and you suck.  For the rest of us stuck out in the cold I
suggest the only viable alternative before us is to drown our sorrows in a
cold bottle of beer (or two, or three...).  I realize the mass email has been
MIA the last two weeks.  For some this may have been a welcomed relief.  For
others there may have been some concern that they had been cut-off from the
distribution.  At present no one has been removed from the distribution, but
it is undergoing an audit.  Should it be determined that it is necessary to
remove an individual from the list for any reason that individual will be
notified and given an explanation.  If anyone would like to know the causes
for expulsion you can write to:  I CAN'T BELIEVE ANYONE CARES IF THERE ON
THIS DISTRIBUTION OR NOT BECAUSE THE ONLY PLACE WE SEEM TO GO IS WOODY'S
EVERY THURSDAY BETWEEN 9:30 AND 10:00.

On that note, see you guys at Woody's tonight around 9:30 or 10:00.


we'll likely go to the gym (in Napa) and be back at your place around 7.
That in time for dinner?

	Nancy Sellers <Nancy.Sellers@RobertMondavi.com>
	06/18/2001 05:53 PM

		 To: "'Jeff.Dasovich@enron.com'" <Jeff.Dasovich@enron.com>
		 cc:
		 Subject: RE: Many thanks

how delightful - in time for dinner?

-----Original Message-----
From: Jeff.Dasovich@enron.com [mailto:Jeff.Dasovich@enron.com]
Sent: Monday, June 18, 2001 3:14 PM
To: Nancy Sellers
Subject: Re: Many thanks

the pleasure was all ours.  prentice and i may be staying at your place
tonite--if that's ok.

                    Nancy Sellers

                    <Nancy.Sellers@RobertMo        To:     "'Scott
Laughlin'" <scottwl@hotmail.com>,
                    ndavi.com>                     "'Jeff Dasovich'"
<Jeff_Dasovich@enron.com>
                                                   cc:

                    06/18/2001 10:33 AM            Subject:     Many thanks

You guys were so great and so much help yesterday that I hardly had a
chance
to nag Eldon at all - oh, that's right - it was Father's Day - wasn't it...

Really thanks a lot!   You certainly helped make it a fun time - but there
wasn't any music!

Nancy
(707) 251-4870 (phone)
(707) 265-5446 (fax)
"Plus je bois, mieux je chante"


O.K.  Just wanted to see if we're still on for Saturday night.  Let me know
if anyone else wants to come because I think I'm just going to order the
tickets today over the phone or on the internet.  Also, I was trying to
remember how much I covered of your meal the other night at Sabroso's.  I
think it was around $15, so if it's okay with you I'll just pay for your
ticket and then take the difference from the amount you sent in that email
and cut you a check for that amount (I know I'm very delinquent).  I promise
I'm good for the money.  Also, was wondering if you're still interested in
the Bruce Cockburn concert on the 11th.  Just let me know.  Hope your having
a wonderful day.


I sent you another one - it adresses your views.  I would not add foster.  In fact I would add Lagrasta and Baughman first.  Maybe we should do 35.

-----Original Message-----
From: Kitchen, Louise
Sent: Sat 10/13/2001 6:13 PM
To: Lavorato, John
Cc:
Subject: RE: PRIVATE

With Calger leading the likes of Parquet etc they can make $100mm plus - without him no chance.  I think it's sort of indirect p&l.

I think we are close enough I'd put our top 20 above any group - our final ten are really strong too.  Harry, Orlando and Zipper as the last people on our list really does show we have some major talent.

Let's not stick to 30 - let's do 33 putting Miller,Deffner, Foster, Zipper, Ermis and Aucoin in.  Daliney's note shows he is giving a lot to people we have in our second half of the list.

-----Original Message-----
From: Lavorato, John
Sent: Saturday, October 13, 2001 6:01 PM
To: Kitchen, Louise
Subject: RE:

my order is actually future p\l based.  if it wasn't in enron n.a. i would put calger way higher.  ie - if it was pulp and paper and i knew that we wouldn't have the opportunity to trade size, chris would be in the top 3.  Maybe 1.  But in this market we need to have the people who can make over 100 MM every year.  just thinking.

-----Original Message-----
From: Kitchen, Louise
Sent: Sat 10/13/2001 11:58 AM
To: Lavorato, John
Cc:
Subject: RE:

I didn't get a copy of Dave's email but a few comments and I attach a compromise ordering.  I added to your file schoolyard.

Our differences are:
Me - Don Miller, Joe Deffner,Chris Foster
You - Zipper, Ermis, Aucoin

I would put them all ahead of Bernie however I have no data points apart from p&l on nothing with Frank so I can't comment on him..  Not huge differences in order, apart from your slant on Canadians!  The main issue with yours is Calger behind Benson and Zufferli (and even maybe Dana), he's a future leader of this organisation.  Your ordering is very P&L based.

Are we supposed to cover Wes or will Causey?

I added to your file schoolyard.

Speak to you later.

Louise

Belden
Arnold
Presto
Shively
Sturm
Swerzbin
Calger
Davis, Dana
Benson
Milnthorp
Zufferli
Herndon
Motley
Davies
martin
grigsby
Tycholiz
Richter
Black
Luce
Allen
Devries
Wiggs
Duran
Storey
Arora
Zipper
Foster
Ermis or Miller
Gonzales

-----Original Message-----
From: Lavorato, John
Sent: Saturday, October 13, 2001 9:56 AM
To: Kitchen, Louise
Subject:

I think we have 3 that are on my list and not on yours.  We have big differences in order.  I'm very concerned about this process.  I'll send you dave's email and you might understand why.

Call me or resend me an email.

john


Team
Here are my comments on Futures. Very minor comments


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Duke says gets a key Canada ok in Westcoast deal

NEW YORK, Nov. 21 (Reuters)

Duke Energy Corp. on Wednesday said it had received approval from Canada's British Columbia Utilities Commission to gain indirect control of the public utilities owned wholly or in part by Westcoast Energy Inc.

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FERC rule on natgas shipping needs more work-industry

By Chris Baltimore, WASHINGTON, Nov 21 (Reuters)

The Federal Energy Regulatory Commission's (FERC) proposal to loosen scheduling rules for natural gas pipeline shippers, meant to boost competition and supplies, could have the opposite effect, some companies and industry groups told the agency this week.

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Missouri Utilities Win Round in Legal Battle against Regulators

By Steve Everly, The Kansas City Star, Mo., Nov. 22

Missouri Gas Energy continued its fight Wednesday against an emergency state rule meant to make it easier for disconnected gas customers to regain service.

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Centrica expands gas field interests

LONDON, Nov. 22 (Reuters) -

UK gas and home services group Centrica Plc said on Thursday it was expanding its gas assets, buying stakes in fields in the North and Irish seas

Press Release

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Atlantic Electric And Gas Underpins Market Expansion With Powerful Billing System From SPL WorldGroup

Morristown, New Jersey - November 21st, 2001

Atlantic Electric and Gas, one of the UK?s few non-aligned energy suppliers which offers a ?fresh new approach? for Britain?s residential and commercial energy users, has invested in a new multi-million pound customer billing system to reinforce its customer service commitment.

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Caminus Corporation Completes Acquisition of Altra Energy Technologies? Software Business

New York, NY ? November 20, 2001

Caminus Corporation, the energy industry?s leading provider of software and strategic consulting for energy trading and risk management in North America and Europe, today announced that it has closed its acquisition of the software operations of Altra Energy Technologies, Inc. The acquisition is being financed with 1.975 million shares of Caminus common stock and $25 million in cash. Based on Caminus? closing share price of $17.91 on November 19, 2001, the total purchase price for the acquisition is approximately $60 million.

California Crisis

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California Consumer Advocates Fear State Slash of Utility Aid Program

By Dana Hull, San Jose Mercury News, Calif., Nov. 22

Consumer advocates are worried that state legislators may slash nearly $84 million dollars from CARE, the program that gives low-income customers a 20 percent discount on their gas and electric bills.

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Bush Energy Plan Enlists Hispanic Support

Nov 20, 2001 - United Press International

Interior Secretary Gale Norton hosted Hispanic business leaders Tuesday in a show of support for the Bush administration's energy plan, which includes a controversial Arctic oil exploration measure.

Competition & Deregulation

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Ohio Public Utilities Officials Adopt Rules for Natural Gas Competition

By Dave Truman, The News-Herald, Willoughby, Ohio, Nov. 20

The Public Utilities Commission of Ohio adopted rules for governing competitive retail natural gas providers Tuesday as outlined in March by state legislation.

Mergers, Acquisitions & Divestitures

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Dynegy says seeking to speed up Enron acquisition

HOUSTON, Nov 21 (Reuters)

Dynegy Inc. said on Wednesday it was seeking to speed up the planned acquisition of beleaguered energy trading company Enron Corp.

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WestLB makes a grab for pounds 1bn Wessex Water

Nov 21 - The Sunday Telegraph - London

WESTLB, the German state-owned bank, is in talks to buy Wessex Water from its troubled US parent, Enron.

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Enron Continues to Implode; Will the Dynegy Deal Proceed?

By Will McNamara, IssueAlert, Nov. 21 (Scientech)

Enron Corp. shares fell sharply in opening trade on Nov. 20 after the humbled energy giant warned it could be forced to pay by next week $690 million in debt triggered by a credit downgrade last week.

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Holiday weekend sends U.S. spot gas sharply lower

SAN FRANCISCO, Nov 21 (Reuters)

U.S. spot natural gas prices were sent tumbling Wednesday as demand was expected to dry up due to the U.S. Thanksgiving Day holiday on Thursday, dealers said.

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Canada gas drops ahead of weak U.S. holiday demand

NEW YORK, Nov 21 (Reuters)

Canadian spot natural gas prices fell dramatically Wednesday in tandem with weak U.S. prices as traders looked for weak demand during the U.S. Thanksgiving holiday on Thursday, industry sources said.

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NYMEX gas ends down only slightly despite bearish AGA

NEW YORK, Nov 21 (Reuters)

NYMEX Hub gas, pressured lightly early Wednesday despite a sinking cash market, ended down only slightly even after the late release of a bearish weekly inventory report, industry sources said.

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Alberta natgas prices jump with weather, outages

CALGARY, Alberta, Nov 22 (Reuters)

Spot natural gas prices in Alberta, one of the few Canadian markets not shut down because of the U.S. Thanksgiving holiday, rallied Thursday on cool weather and minor production outages, sources said.

Drilling/Exploration

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Key Algerian oil, gas tenders attract world majors

ALGIERS, Nov 22 (Reuters)

An Algerian tender for the development of five key oil and gas projects has attracted the interest of 14 international firms, including world oil majors such as BP Amoco and TotalElfFina, officials said on Thursday.

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Natural gas weaker on bearish AGA report

Nov 23, 2001 (TradeSignals via COMTEX) --

Natural gas futures reversed back in a southerly direction in Wednesday's session as bearish AGA increase weighs on trade.

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Nymex Natural Gas Review: Softer After Aga Injection

Nov 21, 2001 - FWN Financial News

Natural gas futures closed lower after a report from the American Gas Association (AGA) showing that has been described as "doubly bearish."

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Dec Futures Sinks Despite Support from Thin Trade, Enron Woes

Nov. 21 (Btu's Daily Gas Wire)

December natural gas futures settled 3.9 cents lower at $2.813 as the market posted a minor sell-off following the release of a bearish American Gas Association storage report, said traders.

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CRE Blames Tejas Gas For Incompletion Of Pipeline Project

MEXICO CITY, Nov 21, 2001 (Reforma/Corporate Mexico by Internet Securities, Inc. via COMTEX) --

Tejas Gas' incompletion of a project to build a natural gas pipeline between Palmillas and Toluca, in the state of Mexico, is a result of a lack of "efficiency," said Raul Monteforte of the Energy Regulation Commission.

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Gas Pipeline Project Clears Its Final Hurdle

Nov 20, 2001 - Australasian Business Intelligence

The Esk Water Authority has discontinued its appeal against stage two of Duke Energy International's $A450m Bass Strait gas pipeline.

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New Gas Pipeline to Link with Gove

Nov 21, 2001 - Australasian Business Intelligence

Nabalco is looking for Timor Sea gas to fuel a $A billion expansion program at its Nhulunbuy alumina refinery.

Rates

For more information on rate tariffs visit

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Regulators Tell Oklahoma Natural Gas Firm to Stop Recouping Fees

By Russell Ray, Tulsa World, Okla., Nov. 21

Oklahoma Natural Gas Co. was officially ordered by state regulators Tuesday to halt its collection of last winter's gas costs from customers beginning Dec. 1.

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Hampton Roads, Va.-Area Consumers to See Lower Heating Bills This Year

By Michael Davis, The Virginian-Pilot, Norfolk, Va., Nov. 20

One year after runaway heating costs busted budgets and ignited tempers, Hampton Roads consumers may be in luck.

Rigs

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Drilling Activity Down in Western Canada

Nov 21, 2001 - Resource News International

The number of Canadian oil and gas rigs active as of Tuesday, November 20, totaled 314, down slightly from the previous week's 319, according to the Canadian Association of Oilwell Drilling Contractors (CAODC).

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Oil and Gas Rig Count Down by 7

Nov 21 - Associated Press

The number of rigs actively exploring for oil and natural gas in the United States this week was down seven to 986.

Storage

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AGA says U.S. weekly natgas stocks rose 15 bcf

WASHINGTON, Nov 21 (Reuters)

The American Gas Association's estimate of working gas in storage (in bcf):

General

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Georgia Regulators Seek Solution for Natural Gas Customers Without Service

By Matthew C. Quinn, The Atlanta Journal-Constitution, Nov. 21

State regulators mulled over several proposals Tuesday to provide a safety net for tens of thousands of natural gas consumers who are currently without service, but an easy solution remains elusive.

Joint Ventures & Alliances

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CNOOC, ALNG ink JV agreement

Nov 22 - China Daily - North American Edition

China National Offshore Oil Company Ltd (CNOOC Ltd), the nation's largest offshore oil and gas producer, said it has agreed with Australia LNG (ALNG) to establish a joint venture to develop natural gas in Australia.

Trading/Marketing

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U.S. energy traders scale back deals with Enron

NEW YORK, Nov 21 (Reuters)

U.S. natural gas and electricity firms have further scaled back trading with Enron Corp. this week, as fears mounted about the humbled energy giant's credit standing, industry sources said on Wednesday.

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Reliant launches U.S. natgas consumption index

HOUSTON, Nov 20 (Reuters)

Houston-based energy company Reliant Resources Inc. said on Tuesday it had launched a new index of U.S. natural gas consumption and a related risk management tool for natural gas traders.

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New gas marketplace to be set up in north-west Europe

Nov 22, 2001 (NORDIC BUSINESS REPORT via COMTEX) --

The Norwegian oil and gas group Statoil has partnered with the German gas companies Ruhrgas and BEB to establish a trading centre for natural gas.

Legal

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Employee sues Enron, alleging $400,000 stock loss

HOUSTON, Nov 21 (Reuters)

An Enron Corp. employee whose retirement savings were heavily invested in Enron stock has sued the company after losing $400,000 because of the sharp fall in the Houston-based energy giant's stock, his attorneys said.

People

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Constellation president Grubman resigns

BALTIMORE, Nov 20 (Reuters)

Constellation Energy Group Inc., owner of Baltimore Gas and Electric, on Tuesday said Co-President Eric Grubman has resigned, effective Dec. 1, following the company's decision not split into two.

Financial

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Enron Tries to Pacify Worries as More Investors Decide to Sell Shares

By Charlene Oldham, The Dallas Morning News, Nov. 22

Faltering Houston energy trader Enron Corp. tried to calm investors' worries Wednesday, announcing progress in relieving its debt situation, but its stock lost a quarter of its value for the second day in a row.

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Investors Push Shares of Phillips, Conoco Higher after Merger Announcement

By Russell Ray, Tulsa World, Okla., Nov. 21

Shares of Phillips Petroleum Co. and Conoco Inc. continued to trek upward Tuesday, as the two prepare to merge to create the nation's leading refiner and retailer of gasoline.

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Accounts board to eye peer reviews amid Enron furor

By Kevin Drawbaugh, WASHINGTON, Nov 20 (Reuters)

The regulatory panel that oversees big U.S. accounting firms plans to discuss concerns about its "peer review" process and other issues at its next meeting in December, the panel's chairman said on Tuesday.

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Enron crisis poses threat to Oregon utility

By Nigel Hunt, LOS ANGELES, Nov 21 (Reuters)

Oregon's largest utility, Portland General Electric, faces an uncertain future as its parent Enron Corp. fights for its life amid a deepening financial crisis, industry experts said on Wednesday.

International

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Japan AOC to expand US natural gas business

TOKYO, Nov. 21 (Reuters)

Japan's leading oil producer, Arabian Oil Co Ltd (AOC), said on Wednesday it would spend about 5.0 billion yen ($40.78 million) to expand its natural gas exploration business in the United States.

<input type="checkbox" name="id" value="2515417">

Brazil: Petrobras to penetrate in energy market

Brazil, Nov 21, 2001 (O Estado de Sao Paulo/SABI via COMTEX) --

The Brazilian state owned oil and gas company Petrobras starts in December a new chapter of its story when the thermal electric power plant Piratininga starts up.

<input type="checkbox" name="id" value="2516335">

Gas Is a Seven-Way Business in Spain

Nov 21, 2001 - FT World Media Abstracts via Comtex

After fiercely resisting the liberalisation of their markets, Spanish energy companies have changed their strategy virtually overnight to become multi-utilities, announcing huge investments to operate and compete in the different energy markets.

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Chinese Oil Giant Takes Stake in NW Shelf

Nov 21, 2001 - Australasian Business Intelligence

A major Chinese oil company is to take an equity stake in the North West (NW) Shelf gas project.

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Gdf Plans to Expand in Italy

Nov 22, 2001 - FT World Media Abstracts via Comtex

French group Gaz de France (GdF) has announced that it is interested in expanding on the Italian energy market and that it is in contact with Italian gas distribution group Snam and a number of other groups in Italy.

<input type="checkbox" name="id" value="2516684">

ENI should sell gas storage ops to free up gas mkt - antitrust body

Nov 20 - AFX

ENI SpA should dispose of its gas storage business as well as its transport activities in order to obtain a full liberalisation of the gas market, said Giuseppe Tesauro, chairman of the antitrust authority.

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Ferngas Nordbayern Must Open Network to Natgas

Nov 21, 2001 - FT World Media Abstracts via Comtex

Ferngas Nordbayern GmbH, the German regional gas supplier, must allow fellow German gas supplier Natgas AG to use its network for the piping of gas from Austria to a Natgas customer, following a court ruling.

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Wintershall Aims for Alliance on The Gas Market

Nov 21, 2001 - FT World Media Abstracts via Comtex

Wintershall AG, the German energy group, is aiming to get in on the act while the rest of the market continues to bind closer together

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ditto


The $ 460 billion would be the cumulative tax cut over the first five years.
The $1.3 trillion would be the cumulative tax cut over 10 years,
so yes, the $460 billion is part of the $1.3 trillion.

Attached is the inforamtion that you requested on the PPI.

Regards,

Maureen


Jeff,

	Any chance of your providing insight on background on what's going
on at Enron. It seems to me either a lot of people know more than what has
been reported, or the debt and equity markets are overreacting terribly.

	--Mark


Both of  these entities have an E-rating of 3. Any issues?

Tomas

---------------------- Forwarded by Tomas Valnek/LON/ECT on 02/03/2000 14:36
---------------------------

John Metzler
01/03/2000 15:41
To: Martin McDermott/LON/ECT@ECT, Tomas Valnek/LON/ECT@ECT
cc:

Subject: Indicative request to buy

Reference Name:  Duke Energy Trading & Marketing (sub of Duke energy -- he
claims they have their own debt)
Counterparty:   Sempara Energy Trading
Term:    2 years
Notional Amount:  $2 million (I made that up)

John


that was from yesterday's call-----he can get down right surreal on the calls
sometime. just an observation.

surreally yours,
jeff

	Paul Kaufman@ECT
	03/16/2001 01:01 PM

		 To: Jeff Dasovich/Na/Enron@ENRON
		 cc:
		 Subject: Re:

?????

From: Jeff Dasovich@ENRON on 03/15/2001 02:21 PM CST
Sent by: Jeff Dasovich@ENRON
To: Paul Kaufman/PDX/ECT@ECT
cc:
Subject:

you need to have a chat with ken.


I wish I could be there. I know it will be a great time, but I will be in
Arkansas.  Will I see you tonight?

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


Thanks alot for the info.

 -----Original Message-----
From: 	Herndon, Rogers
Sent:	Tuesday, August 28, 2001 8:19 AM
To:	Presto, Kevin M.
Subject:	McQueeney Property

Kevin -

Definitely get in touch with Mickey Ferrell (Ferrille?) Realtors - The McQueeney office (not the Seguin office).  The phone number is 830-557-5824.  Ask to work with Jackie specifically.  Jackie knows Elizabeth's family, The Otts, and me.  I am better friends with her husband - he drives boats and teaches kids how to ski for the Ski Lodge.

You will find a wide variety of homes on McQueeney.  The balance will be between location, lot size and how nice you may want the existing structure to be.  As for location, the prime areas will be:

1) Near the Lake Breeze Ski Lodge (near the Ott's house)
2) Water front on and around "the Island"  (just as nice maybe nicer- more to choose from)
3) Waterfront "Up-River"  - Generally larger lots, less consistency in quality of homes

Expect values from $150 - $250k for a lot only.  houses will run from $350k - your limit.  Last time we were on the lake I noticed several new For Sale signs as you would expect.

The more I think about it, this lake is ideal for where you live.  It takes me 2:20 ish from my house and should take you no more than 2 hours from where you live today.

Let me know how things are going and if you are ever planning to head up there I will check my schedule and show you around if possible.  One thing to consider is going up on a Saturday morning and getting a room at The Lake Breeze Ski Lodge.  Drive around with Jackie during the am/afternoon and get Sambo (Jackie's husband) to take you and the family out on the boat for an hour or so (Sambo has a couple of Ski Nautiques).  The lodge has a great pool, bar, dining, and playground.  It is open weekends only through mid October I believe.  Open full time while school is out.  Rooms are about $65 and they are what you would expect.  A nice family/social place on the lake.  Of course, if we are there, we would be happy to take everyone out on the boats and such, but if we aren't everything is accessible through the lodge.

Good luck,

RH


Jim, et al,

Interesting e-mail from UC.  Apparently the PUC is implying to UC that DASRs
submitted after July 1 need to be associated with a contract executed prior
to July 1.  Is this consistent with our intell?  Can they make these
inquiries?  Please advise.

Tom

> -----Original Message-----
> From:	Maric Munn <Maric.munn@ucop.edu>@ENRON@EES
> Sent:	Wednesday, August 29, 2001 9:38 PM
> To:	TRiley@enron.com; dhuddles@enron.com
> Cc:	mgutheinz@calstate.edu; KTilton <ktilton@gralegal.com>
> Subject:	Fwd: Enron DASRs filed since July 1, 2001
>
> Tom, Diann -
>
> Do you have data on number of DASRs that have been submitted for UC/CSU
> accounts post July 1, 2001.  DO you also have a breakdown of number of
> DASRs that were for accounts that were part of the original group of
> accounts that were un-DASRd and re-DASRd vs. the number of DASRs for the
> accounts that were being DASR'd for the first time?  Read below -
> enquiring
> minds at the CPUC want to know.
>
> Thanks
>
> Maric
>
>
> >X-Sent: 30 Aug 2001 00:13:56 GMT
> >Date: Wed, 29 Aug 2001 17:03:09 -0700
> >From: KTilton <ktilton@gralegal.com>
> >X-Mailer: Mozilla 4.51 [en] (Win98; I)
> >X-Accept-Language: en,pdf
> >To: Maric Munn <Maric.Munn@ucop.edu>, Mark Gutheinz
> <mgutheinz@calstate.edu>
> >CC: Irene Moosen <imoosen@gralegal.com>
> >Subject: Enron DASRs filed since July 1, 2001
> >
> >Maric, Mark:
> >
> >Our office has received telephone calls from CPUC Energy Division staff
> >regarding the Enron DASRs filed since July 1, 2001, and specifically
> >whether recent DASRs filed are under an existing contract - that was
> >executed prior to July 1 (as opposed to new Direct access contracts,
> >post July 1).  The Energy Division staff is being asked by their
> >superiors to determine how many of the post-July 1 DASRs (for all
> >customers, not just UC/CSU) were under an existing contract versus a
> >new, post-July 1 contract.  As you know, this relates to the revised
> >draft decision which suspends direct access effective July 1.
> >
> >We have explained that the new Enron DASRs for the campuses are under an
> >existing contract - the original contract that was executed in 1998. But
> >one energy staff member has requested a specific number of post-July 1
> >Enron DASRs filed for the campuses - as they were returned to direct
> >access service under the contract.  Therefore, I am making this request
> >from you.
> >
> >Can you provide me with the following information:
> >     1.  How many DASRs have been filed since July 1, 2001
> >     2.  Of those, how many were inappropriately removed from direct
> >access back in February and how many were eligible, but never placed on
> >direct access service due to Enron mistake?
> >I will use discretion in sharing the precise breakdown information on
> >the post-July 1 DASRs, but it is important that we have a clear
> >understanding of the precise numbers.
> >
> >Please let me know if you have any questions on this matter.  I realize
> >that you are both busy, and I appreciate your attention to this matter.
> >
> >thanks
> >
> >Kelly
>
>


I am not quite a wreck, and no promotion or raise.

I'll be at the Lake Austin Spa weekend after next, so that keeps me going.

ckm

suzanneadams@att.net on 04/23/2001 05:00:15 PM
To: Kay.Mann@enron.com
cc:

Subject: Re: Doctor's Report

Oh lord, you poor thing.  Are you a wreck yet?  Have you
got a promotion yet?  Oh yes, Kaye is very sorry to see
her go.  It'll be interesting to see what happens next.
I don't think I know anything else (I forget).
>
> I'm working all the time, so I've just been here, grinding away. I'm
> working with Elizabeth and Jeff, plus one deal for Jake and one for EES.
> I've picked up a few things from Stuart. I don't know what they will do
> with Peggy's stuff.  Is KE sorry to see her go?
>
> I wonder who will be next. Any gossip?
>
> Kay
>
>
>
>
>
>
>
> suzanneadams@att.net on 04/23/2001 04:36:19 PM
>
> To:   Kay.Mann@enron.com
> cc:
>
> Subject:  Re: Doctor's Report
>
> Where have you been?  I haven't heard much from you at
> all.  I guess you know Peggy Banczak gave her notice
> this morning. I understand that Barbara started crying.
> I wonder what Haedicke thinks of all these people
> leaving.  Are you working with Elizabeth or still with
> Jeff or both?  I'm looking forward to returning to
> work.  I'm feeling pretty good and am going to try and
> stay up all day today without a nap.  I didn't have a
> nap yesterday either and we went to the Astros game last
> night.  Saturday, however, I had to have a nap.  My goal
> is to go all week without a nap.  I've got to prepare
> for work hours.  Lord, can you imagine how many emails
> I'm going to have!
>
> What's new with you?
> >
> > Still missing you terribly.
> >
> > ckm
> >
> >
> >
> >
> > suzanneadams@att.net on 04/23/2001 03:28:34 PM
> >
> > To:   sheila.tweed@enron.com, dan.lyons@enron.com,
> >       carol.st.clair@enron.com, kay.mann@enron.com,
> >       mary.j.heinitz@enron.com, janette.elbertson@enron.com,
> >       margaret.doucette@enron.com, becky.spencer@enron.com
> > cc:
> >
> > Subject:  Doctor's Report
> >
> > I had two doctor's appointments today, and they said I'm
> > doing great and am ready to return to work next Monday.
> > Hopefully my blood work will say the same.  Anyway, I
> > look forward to seeing everyone.
> >
> > Suzanne
> >
> >
> >
> >
> >
>
>
>
>
>


Please incorporate the management contact changes per Sheila Glover for the
2000 plan.
---------------------- Forwarded by Sally Beck/HOU/ECT on 04/11/2000 06:07 PM
---------------------------

	From:  Sheila Glover                           04/11/2000 09:55 AM

To: Sally Beck/HOU/ECT@ECT
cc: Patti Thompson/HOU/ECT@ECT
Subject: AA Audit timeline

Sally,
Equity and Debt Trading should be:
 Gary Hickerson instead of Jeff Kinneman (Jeff is the Debt Trading piece only)
 Include Beth Perlman/Jonathan Le
 As noted, Sheila Glover instead of John Norden
Rate & Currency Trading (change name from FX/IR Trading
 Include Beth Perlman/Jonathan Le
 As noted, remove John Norden

thanks. sheila


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fyi.  Stacy just got the draft this am.

Gotta love the passion.

ckm
---------------------- Forwarded by Kay Mann/Corp/Enron on 05/15/2001 08:37
AM ---------------------------

	From:  Jim Homco @ ECT                           05/15/2001 07:55 AM

To: Reagan Rorschach/Enron@EnronXGate, David Fairley/Enron@EnronXGate, Lloyd
Will/HOU/ECT@ECT, Kayne Coulter/HOU/ECT@ECT, Kay Mann/Corp/Enron@Enron,
Gerald Gilbert/HOU/ECT@ECT
cc:

Subject: Master Gas Agr. for Yazoo

We need the Master Gas Agreement between Yazoo and ENA executed ASAP !!
In the last meeting, it was stated that for Clarksdale we would have the
third party supplier invoice
the Cities directly, however once the Yazoo rehab work was completed, ENA
would be supplying and
invoicing Yazoo.  Yazoo is near completion on the work, and has already
burned gas in their testing over
the past weekend. I currently have an imbalance with the pipe which  I need
to repay ASAP.  Also once the
Yazoo unit is completed, I have NO MECHANISM to deliver the gas until we
execute the Master Gas as
was discussed two weeks ago.


Here is the turbine description (expanded version).  If your received something with a table in it, that was sent out in error.

This decription is subject ENA legal review.

Steve


OK thanks.  Other side will be happy with this.
Wasn't sure what would be material for us ..
Jane

	Alan Aronowitz@ECT
	10/25/2000 02:21 AM

		 To: Jane McBride/AP/Enron@ENRON
		 cc: John Viverito/Corp/Enron@Enron, Mark Evans/Legal/LON/ECT@ECT, Mark
Taylor/HOU/ECT@ECT
		 Subject: Re: Tokyo-Weather Derivative-Warranties Agreed-Question on events
of default

Jane:

There is no specific policy on this E of D to my knowledge because it was
specially added for Japan to produce an early credit-related event of
default.  Because the monetary figure could cut against Enron Japan, I would
suggest that we go with a figure that is material enough as applied against
our counterparty, but which if applied to EJ would not easily trigger a
default against EJ, let's say USD 1 million or a higher figure.

Alan

	Jane McBride@ENRON
	10/24/2000 05:54 AM

		 To: Mark Evans/Legal/LON/ECT@ECT, Mark Taylor/HOU/ECT@ECT
		 cc: Alan Aronowitz/HOU/ECT@ECT, John Viverito/Corp/Enron@Enron
		 Subject: Tokyo-Weather Derivative-Warranties Agreed-Question on events of
default

Dear Mark Evans,

Pls let me know (as per email earlier) if you have any further queries -
otherwise we will sign this tomorrow.  Thanks for your help.

***********

Dear Mark Taylor (and Alan or Mark),

You will see that we need to include a figure in clause 6(a)(1): Additional
Events of Default - Other Financial Crises.  They proposed JPY1,000,000,000
(US$10 million), I counterproposed JPY1,000,000 (US$10,000).  They are now
suggesting JPY100,000,000 (US$1,000,000).

I am thinking of suggesting US$500,000 (JPY50,000,000).  Are there any Enron
policies etc in this regard? What is the typical range of acceptability for
Enron on this? Any other comments?

***********

Thanks all.

Jane

----- Forwarded by Jane McBride/AP/Enron on 10/24/2000 07:43 PM -----

	"Izumi Sato" <isato@mywm.co.jp>
	10/24/2000 07:28 PM

		 To: <Jane.McBride@enron.com>
		 cc: <Morten.E.Pettersen@enron.com>, <Ono_T@toare.co.jp>, <wani@mywm.co.jp>
		 Subject: RE: ToaRe documentation

Dear Ms. McBride,

Thank you for your e-mail.
It is our opinion that the amended clause 5 (c) is acceptable for our
client, ToaRe. We are also informed by Mr. Ono that they will accept such
clause.

As to the other issue, JPY1,000,000 is all too low. JPY1,000,000 equals to
only about 10,000 US$. If JPY1,000,000,000 is not acceptable for you, how
about JPY100,000,000?

Akihiro Wani / Izumi Sato
Mitsui Yasuda Wani & Maeda

-----Original Message-----
From: Jane.McBride@enron.com [mailto:Jane.McBride@enron.com]
Sent: Tuesday, October 24, 2000 2:54 PM
To: Izumi Sato; wani@mywm.co.jp
Cc: Morten.E.Pettersen@enron.com; Ono_T@toare.co.jp
Subject: RE: ToaRe documentation

Dear Ms. Sato and Mr Wani,

(See attached file: Weather-HDD-Floor-OTC-ToaRejmb2000-10-24r.doc)

Thank you for your email and it is my turn to apologize for our delay in
reverting to you.  I have had to involve numerous people throughout our
organization who have been involved to date in gathering the legal data we
have accumulated in relation to the legal issues associated with the
trading of weather derivatives here.

I am attaching our latest proposal for your consideration.  I still need to
get sign off from our head of legal in London this evening on this drafting
but do not expect any problems.

In the interests of time I have not set out our reasoning here.  I think
Mr. Wani is very familiar with the various issues both on the part of your
client and on our part.  If, however, your client is not willing to accept
this language and needs us to explain our reasoning in detail I would like
to arrange a meeting to be attended by Mr. Wani, our lawyers at Tokyo
Aoyama Law Offices, me and your client to resolve these issues.

On the other issue, we think JPY1,000,000 would be far more appropriate
than JPY1,000,000,000.

Finally, we will negotiate the ISDA master with your client separately but
will not accept the argument at that time that because we agreed to
Japanese law in this confirmation, we should agree then.  At this stage no
further discussion need take place on this point.

Jane McBride
Senior Legal Counsel
Enron Japan Corp.

Otemachi 1st Square Bldg.
West 11th Floor
1-5-1 Otemachi, Chiyoda-ku
Tokyo 100-0004
Japan

Tel.:       81-3-5219-4500 (Main)
              81-3-5219-4553 (Direct)
Fax:       81-3-5219-4510

Assistant (Maggy Yamanishi)
Tel.:        81-3-5219-4554
Email:      Yo.Yamanishi@enron.com

                    "Izumi Sato"
                    <isato@mywm.c        To:     <Jane.McBride@enron.com>
                    o.jp>                cc:     <Ono_T@toare.co.jp>,
<wani@mywm.co.jp>,
                                         <Morten.E.Pettersen@enron.com>
                    10/19/2000           Subject:     RE: ToaRe
documentation
                    08:04 PM

Dear Ms. McBride,

Our answer is as follows:

1. We have no comments on this point.

2. As to clause 5(c)(i) and the amended (iii), we have no objection.
However
it is our opinion that both of the parties represent and warrant each
other.
As to (ii), we are informed by Mr. Ono that this transaction does not come
under (ii) for ToaRe as its purpose is not hedging. If ToaRe represents and
warrants as clause 5(c)(ii), it is false representation and warranty.
Clause
5(c)(ii) therefore should be deleted.
We think clause 5(c)(iii) is a good enough representation to clear the
gambling matter.

3. It is our opinion that Japanese law is better for our client in the ISDA
Master.

4.Our suggestion is JPY1,000,000,000.

5. As this is the practical matter, we have no comments.

We apologize for the delay.

Best regards,

Akihiro Wani / Izumi Sato

-----Original Message-----
From: Jane.McBride@enron.com [mailto:Jane.McBride@enron.com]
Sent: Wednesday, October 18, 2000 9:02 PM
To: isato@mywm.co.jp
Cc: Ono_T@toare.co.jp; wani@mywm.co.jp; Morten.E.Pettersen@enron.com
Subject: Re: ToaRe documentation

Dear Ms. Sato,

I am enclosing an amended draft (clean) of the confirmation for your final
approval.  Please let me know if you have any trouble reading it with the
redlining.

You will note:

1.   We have amended the FRWS.  This has been done in consultation with
your client so I don't expect this to be a problem.
2.   We cannot give the warranties in clause 5(c).  We also do not accept
your client's reasons for not giving the warranties to us but as
alternative to paragraph (iii), would suggest you warrant the legality of
your entering into of the contract.  We trust you can have no objections to
this new warranty.  In our opinion, the analysis you have suggested in
relation to paragraph (ii) is relevant only in the context of a credit
derivative and not a weather derivative so would ask that this be retained.
3.   We have agreed to Japanese law but only on the understanding that your
client will agree to New York law (or UK law if they prefer) for the ISDA
which we will start negotiating as soon as this confirmation is finalized
and on the basis that you accept our amended form of clause 5.
4.   Pls make a suggestion for the purposes of the figure in 6(a)(1).
5.   We are also willing to accommodate you on clause 13 and will revert
with this language tomorrow.

Jane McBride
Senior Legal Counsel
Enron Japan Corp.

Otemachi 1st Square Bldg.
West 11th Floor
1-5-1 Otemachi, Chiyoda-ku
Tokyo 100-0004
Japan

Tel.:       81-3-5219-4500 (Main)
              81-3-5219-4553 (Direct)
Fax:       81-3-5219-4510

Assistant (Maggy Yamanishi)
Tel.:        81-3-5219-4554
Email:      Yo.Yamanishi@enron.com

(See attached file: Weather-HDD-Floor-OTC-ToaRejmb2000-10-17.doc)


Thanks for the info.  Congratz on the deal.


Attached are summaries of several recent Edison advice letters.? Be  sure to
check out 1529-E-B.
?
Dan

Law Offices of Daniel W. Douglass
5959 Topanga Canyon Blvd.?  Suite 244
Woodland Hills, CA 91367
Tel:?? (818)  596-2201
Fax:? (818) 346-6502
douglass@energyattorney.com
 - 7-12-01 SCE AL Summary Chart.doc


Yes, because Treasa told me this morning that this could "make or break the
deal"!

Of course, you are absolutely welcome to join me (and Marcus if he is
available).

Sara

	Robert Bruce@ENRON
	Sent by: Robert Bruce@ENRON
	11/16/2000 04:42 PM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: Re: TD crude swap

Sara, I would like to sit in on this if I can -- I have a 10 a.m. conference
call myself and I don't know how long it will last.

Does the fact that  you put the phrase "no big deal" in quotations indicate a
certain amount of skepticism on your part?

Robert E. Bruce
Senior Counsel
Enron North America Corp.
T (713) 345-7780
F (713) 646-3393
robert.bruce@enron.com

	Sara Shackleton@ECT
	11/16/2000 04:37 PM

		 To: Marcus Von Bock Und Polach/LON/ECT@ECT
		 cc: Treasa Kirby/LON/ECT@ECT, Rod Nelson/LON/ECT@ECT, Robert
Bruce/NA/Enron@Enron
		 Subject: TD crude swap

Marcus:

TD has scheduled a conference call with me at 10:30 am Houston time to
discuss the crude swap (related to the prepay).  Mataly Sahoni (?) said that
they wanted to discuss some "credit issues" and that it was "no big deal."

You are welcome to join me.  Sara

P.S.  Bob Bruce (Ext. 57780; EB 3880D) will back me up while I am out of the
office tomorrow afternoon, Monday and Tuesday. I'll be back on Wednesday,
Nov. 22.


Hey what are you guys doing partying without me.  Yes I have been traveling, in fact I have been gone almost all October, up through the 15th.  But I'm finished.   When are you thinking of getting together?

-----Original Message-----
From: Deborah Herbertson [mailto:felinewoman@msn.com]
Sent: Saturday, October 20, 2001 5:41 PM
To: plucci@enron.com
Subject: Hi!

Hi Paul,

Ran into "Tim" at Sambuca's Friday night, and he was wondering what happened to our "get together" we were supposed to have several weeks ago????
I told him I hadn't heard back from you, therefore assumed you were not interested. He said he thought you were out of town a great deal, but was going to e-mail you because he wants possibly to set something up with us four. (Myself, Carolyn and you two)
No problem if you are too busy, believe me I understand.........or whatever the reason might be.

Take care,
Debbe.


David

When you get back, hopefully in one peice.  Can you take care of my moving
expenses and the gross up issue.


Crude 24X7 WTI Marketing Effort

Trade Count:
 302 Trades
 14.3 Millions of Barrels
 15 Counterparties Transacting Today
 30 Counterparties Transacting to Date
 761 Millions of Barrels Traded YTD

Comments:
? . 81 Trades and 3.7 Million Barrels were traded over the weekend by 6
counterparties.

? NOTE: The EnronOnline Volumes on the NYMEX comparison chart are multiplied
by 10 in order to be in scale with the NYMEX volumes. This chart is for trend
analysis only and does not represent absolute figures.


Dear Vince,

I am so grateful for your efforts.  I really appreciate you taking time from
your busy schedule.  If you have not contacted Michael Maddox, it's even
better.  I have updated and re-worded my resume to better reflect my
accomplishments.  Would you please contact Michael Maddox of CERA and forward
my resume to him?  His contact information is (617) 497 6446 or email:
mmaddox@cera.com

Have you had a chance to talk to David Port?  Maybe there are other options.
I am flexible and willing to do whatever it takes.

Sincerely,

Bessik Matchavariani
Manager
Enron Broadband Services
Tel: 713.345.7230
Fax: 713.646.8861
bessik_matchavariani@enron.net