All:  Attached for the reading pleasure of the CA team is the Andersen report
- "Energy Crisis in the Western U.S." Reproduced below is a related article,
and that is followed by the text of the Andersen press release on the
report.  Ray

	NGI's Daily Gas Price Index
published : April 25, 2001
	Andersen Warns Of Increased State/Federal Tensions
	The likelihood of friction between state and federal regulators increasing
over deregulation plans if states slow or walk away from retail competition
is just one of several important implications resulting from the ongoing
shockwave that has rolled through the Western energy markets, according to a
new report issued Tuesday by Andersen.
	The report, "Energy Crisis in the Western United States: Lessons for
Navigating Regulatory and Market Minefields," was unveiled by Andersen's
North American Energy Consulting Practice at a Washington, D.C., briefing.
	David Jermain, principal with Andersen's North American Energy Consulting
Practice, noted that the report identifies eight overriding implications
emanating from the Western energy crisis. "These aspects of the California
virus will shape the longer-term operations of the Western grid, the regional
and national economy, domestic energy policy and the industry's evolution,"
he added.
	The eight implications singled out in the Andersen report are:
	Increased deregulation uncertainty and risk
	Reduced investor confidence
	Contributing factor in economic softening
	Increased pressure on the Western grid
	Unbundling failures that push companies back to portfolio strategies
	Ineffectiveness in changing siting and development restrictions
	Procurement management that alters user-utility negotiating leverage; and
	Increased emphasis on distributed generation and new technologies
	"Tensions and differences between state and federal regulators raise the
specter of repeating the regulatory and political conundrum California's
investor-owned utilities have been facing," Jermain said. If federal
initiatives open wholesale markets while retail markets remain regulated, a
crucial question emerges, namely whether state regulators will pass-through
higher wholesale costs if they should occur. "Tensions between state and
federal regulators over policies on deregulation will grow if states delay or
abandon retail competition," Jermain stated.
	As to the California situation creating increased pressure on the Western
grid, Jermain noted that "Even as capacity increases and demand reductions
work to resolve the California crisis, these solutions have long-term
implications for the Western grid." Such implications include a realistic
chance that California could become an "energy island" as a result of
near-term reduction in available regional resources for export to California,
according to the Andersen report. Also, there could be increased emphasis on
security control to protect against overall Western grid failure as
sub-regions have difficulties.
	Along with yesterday's report, Andersen also issued the results of an
Andersen survey of senior executives from 16 non-California utilities
detailing their views of the implications of the California power crisis for
their companies and the industry. The survey was conducted between February
19, 2001, and March 2, 2001, by Knowledge Systems & Research Inc. of
Syracuse.
	On the deregulation front, nearly all the executives surveyed said they
believe recent California events will slow the pace of deregulation over the
next five years for states that have not begun or finished writing
restructuring legislation. None believe that it will result in advanced
states deciding to re-regulate markets, although many states will review
their legislation to assess the risk of duplicating California's current
situation and make any changes necessary to avoid it.
	As to legislation at the federal level, the survey found that few executives
suggest that the California situation will spark national energy
policy/legislation. Other executives believe that it will be a continuing
issue but, because of state-to-state variances, Congress will be unable to
pass any comprehensive measures or force states to a restructuring timeline.
	Turning to company strategies, most of the executives surveyed do not see any
changes to their business models or strategies for generation, distribution
or supply procurement as a response to the situation in California. However,
many have, among other things, expanded their risk management programs,
reduced spot market purchases and started emphasizing long-term supply
contracts. Those executives facing price caps are rethinking their stance on
them, according to the Andersen survey.
	The full Andersen report on the Western energy crisis can be downloaded at
www.andersen.com.

ower companies and regulators must take steps to avoid spread of California
Power virus: Andersen analysis

WASHINGTON, D.C., April 24, 2001 * A &new virus spawned in California8 poses
formidable challenges requiring new strategies on the part of power
companies, regulators and policymakers to contain and reverse its damage,
according to Energy Crisis in the Western United States: Lessons for
Navigating Regulatory and Market Minefields, a new Andersen report released
today.
&The implications for the development of competitive energy markets go far
beyond the Western United States,8 Andersen,s national utility practice head
Matthew D. Smith told a Washington briefing. &Unfortunately, California has
taught the nation that regulatory and political barriers can create and
sustain an energy crisis.8

&California has demonstrated that the risks in the electricity industry, if
not properly acknowledged and managed, can simultaneously and profoundly
impact all market participants. To be effectively managed, these risks need
to be exposed, assumed or shared, measured and monitored. When they are
hidden or ignored, all parties can potentially suffer. A shared, integrated
view of these risks, and a strategy for their assumption and management, is
critical to avoiding rapid value destruction within the energy market,8 Smith
said.

An Andersen survey of senior utility executives outside California, also
released at the briefing, indicates most utility companies believe they
inoculated themselves against the California virus so that it is unlikely to
affect their operations beyond slowing the pace of deregulation and
increasing investor scrutiny. However, based on the potential implications it
sees of the California situation, Andersen believes a series of booster shots
are advisable for power companies and regulators. &To deliver reliable
service at a predictable cost in today,s environment, companies must focus on
market integration by developing new and innovative relationships between
suppliers, customers, employees and investors ) while working with government
officials and regulators to chart a smoother transition to a deregulated
power market,8 according to Smith.

Eight Implications
The Andersen report identified eight overriding implications emanating from
the Western energy crisis that are shaping the longer-term operations of the
Western grid, the regional and national economy, domestic energy policy and
the industry,s evolution:
1. Increased deregulation uncertainty and risk ) Tension and differences
between state and federal regulators raise the specter of repeating the
regulatory and political conundrum California,s investor-owned utilities have
faced. If federal initiatives open wholesale markets while retail markets
remain regulated, a crucial question is raised: Will state regulators
pass-through higher wholesale costs if they should materialize? Tensions
between state and federal regulators over policies on deregulation will grow
if states delay or abandon retail competition.
As wholesale markets are deregulated and RTOs begin operating, the prudence
principles that state regulators have used for many years may have to be
changed. For example, if FERC and RTO monitors determine that deregulated
wholesale markets operate fairly, prices derived from those markets must be
considered reasonable. If so, these costs should be allowed into
state-regulated retail rates without regard to the prudence principles state
regulators have used for years. Therefore, utilities, traditional burden of
proving costs are or are not justifiable shifts to regulators.

2. Reduced investor confidence ) Prior to deregulation, stringent prudence
review and disallowance of generation costs in the rate base made regulatory
risk largely uncontrollable, killing IOU interests in most new investment. A
major purpose of deregulation was to create an environment in which risk
could be managed, but California,s political and regulatory environment
provides only a limited ability to manage risks. The confidence and
perceptions needed to support investment decision-making will be slow to
return given the approach of the state to remedy the crisis.

3. Contributing factor in economic softening ) Uncertain energy reliability
and higher costs can drive-out marginal businesses, cause healthy companies
to constrain expansion, and lead new entrants to question whether to make new
investments. As such, an extended energy crisis contributes to inflation
pressures and may slow economic growth.

4. Increased pressure on the Western grid ) Even as capacity increases and
demand reductions work to resolve the California crisis, these solutions have
long-term implications for the Western Grid. These include a realistic
possibility of California becoming an &energy island8 as a result of
near-term reduction in available regional resources for export to California;
increased emphasis on security control to protect against overall Western
grid failure as sub-regions have problems; RTO requirements to strengthen
locally available supplies to bolster overall system reliability; longer-term
development of new plants using plentiful coal resources and clean coal
technology will alter the pattern of imports into California; and the
emergence of Mexico as a major supplier to southern California and Arizona,
contributing to a bifurcation of the Western Grid into northern and southern
markets

5. Unbundling failures that push companies back to portfolio strategies ) For
California investor-owned utilities, unbundling has achieved neither the
least-cost solution sought by regulators nor value maximization targeted by
investors. This necessitates a reevaluation of portfolio management
strategies potentially involving generation, transmission, power trading and
marketing, and retail businesses in multiple geographies serving multiple
markets.

6. Ineffectiveness in changing siting and development restrictions )
California,s retail price caps and multiple explanations for the crisis have
left accelerated siting processes and environmental standards changes open to
challenge by various interests. In addition, limiting application of new
siting orders only to small generators contributes to uncertainty and
investor hesitancy.

7. Procurement management that alters user-utility negotiating leverage )
Competitive markets compel participants ) suppliers, marketers, large
industrial buyers, etc. ) to strategically manage procurement as a critical
value-driver. Because risk is explicitly shared and always has the potential
of shifting advantage to either seller or buyer, the sophistication of
negotiations and contracts increases as competitive markets evolve.

8. Increased emphasis on distributed generation and new technologies )
California,s reliability and price challenges have triggered a re-emergence
of energy crisis measures from the 1970s. End-users are investing in
solutions they control, and the distributed generation market is being
aggressively developed among large retailers, industrial users and
residential customers. This makes possible the development of microgrids
connecting consumers in local areas and related changes in traditional grid
systems, from modifications in interconnection agreements to changing
definitions of reserve margins and system reliability.
Industry Executives, Response
Senior executives from sixteen non-California utilities with a combined
market capitalization over $120 billion and $145 billion in revenues
responded to an Andersen survey with their views of the implications of the
California power crisis for their companies and for the industry. The survey,
conducted between February 19, 2001 and March 2, 2001 by Knowledge Systems &
Research, Inc. of Syracuse, found that the companies are observing the
California situation carefully, expect a slowing ) but not a turnaround -- of
deregulation, and believe their internal plans and preparations are on-target
for the changing environment:
Deregulation - Nearly all executives believe recent California events will
slow the pace of deregulation over the next five years for states that have
not begun or finished writing restructuring legislation. None believe that it
will cause advanced states to re-regulate markets, although many states will
review their legislation to assess their risk of duplicating California,s
current situation and make any changes necessary to avoid it.
National legislation - Few executives suggest the situation will initiate
national energy policy/legislation; others believe it will be a continuing
issue but, because of state-to-state variances, Congress will be unable to
pass any comprehensive measures or force states to a restructuring timeline.
Some expect additional state-level legislation.
Company strategies - Most do not see any changes to their business models or
strategies for generation, distribution or supply procurement as a response
to the situation in California. However, many have expanded their risk
management programs, reduced spot market purchases, begun emphasizing
long-term supply contracts, planning new power generation capacity, and
started hedging with futures trades. Those facing price caps are rethinking
their stance on them
Investor scrutiny ) Many executives indicate their shareholders are aware of
the situation and investors -- particularly institutional investors -- are
more heavily scrutinizing their actions. Many say news coverage has prompted
retail, commercial and industrial customer skepticism of industry
restructuring.
Transmission deregulation - Many executives agree the California situation
will increase interest in FERC,s regional transmission organizations (RTO)
deregulation effort.
Utility Company Action Items
Both to guard against a sudden California cascade and as a potentially
powerful competitive thrust, forward-thinking utilities should bolster their
basic preparedness with a variety of tactics -- or inoculations --
specifically aimed to combat a potential California power virus, according to
Andersen partner Mark Moskovitz:
Improve procurement management and risk management capabilities - To manage
exposure to volatile supply and demand shifts, organizations must be sure
that comprehensive and clear supply procedures, controls, decision points,
risk limits and communications are in place.
Plan and design innovative rate and pricing structures ) Companies and
regulators must focus on communicating price signals that create value for
both the customer and the provider. Innovative rate and pricing structures
that more closely tie the customer,s price to the real cost of supply will
better signal the value of the service as well as providing more accurate
information upon which both end user and supplier can make decisions.
Increase emphasis on demand side management (DSM) strategies ) In addition to
new pricing strategies to help achieve and maintain supply-demand
equilibrium, companies must now focus on employing more extensive and
innovative demand side management programs. These programs may offer
significant benefits with limited risk to both the customer and energy
supplier.
Assess the supply and generation dynamics in adjacent jurisdictions )
Companies must take a broader view ) beyond typical geographic market
definitions -- of the economics of generation and related business decisions
in an increasingly volatile market in which supply will follow the best
prices.
Develop contingency plans for the continued deferral of new generation
capacity ) In the face of potential ongoing generation capacity shortages,
companies and regulators must be prepared to move with a portfolio of
strategies to meet demand, including for example DSM, flexible pricing and
distributed generation. In addition, they should explore efficiency-improving
upgrades to existing facilities and seize any opportunity to accelerate
near-term construction plans.
Proactively address potential organizational disruption ) As regulatory and
economic changes continue to churn the industry waters and companies adjust
and/or restructure, they must be highly cogniscent of, sensitive to, and
directly address employees, concerns with information about the company,s
future and theirs,.
Industry/Regulatory Lessons
There are also a number of broad primary lessons the electric power industry
-- nationally and internationally -- should take away from its first major
domestic test case in deregulation and restructuring, according to Andersen
principal David O. Jermain:
Simplify market design.
Build a continuing role for regulators.
Maintain communications with multiple constituent interests.
Prepare contingency plans for extreme stress conditions.
Couple real-time retail pricing with transparently priced wholesale
competition.
Provide special incentives for RTO investment, formation and development.
Break down regulatory and political barriers to market signals and responses.
Copies of the Energy Crisis in the Western United States: Lessons for
Navigating Regulatory and Market Minefields report can be obtained at
www.andersen.com/energyandutilities.


Christine:

Here are Jimmy and my answers to questions 5 -7.  Call me at home,
925-362-0210, if there is a problem.

Dylan
 - NUTRA1.doc


Start Date: 4/27/01; HourAhead hour: 16;  HourAhead schedule download failed.
Manual intervention required.


---------------------- Forwarded by Randall L Gay/HOU/ECT on 09/18/2000 01:53
PM ---------------------------

"The Associate and Analyst Programs" <axisteam@enron.com>@enron.com> on
09/15/2000 06:14:43 PM
To: "rgay@enron.com" <rgay@enron.com>
cc:
Subject: IMPORTANT NOTICE: YEAR-END PRC PREPARATION

Good afternoon Supervisors of Associates and Analysts:

As you may be aware, the Year-End PRC for 2000 is quickly approaching and
your assistance is needed in ensuring a smooth process.  It is imperative
that the
Performance Management team obtains the correct reviewing supervisor for the
Associates and Analysts in order to facilitate the PRC process.  The reviewing
supervisor is the person that will provide the Associate/Analyst their
year-end
individual performance feedback.  You will be considered the reviewing
supervisor if you employ the individuals listed below as of October 1, 2000.

A comprehensive list of the Associates and/or Analysts currently in our
database
indicates that you are the supervisor of the individuals listed below.  Please
examine the list and reply with "No Changes" if the data is correct.  If
Analyst in your response. If you will not be the reviewing supervisor as of
October 1st, please let us know so that we may follow up with the Associates
and
Analysts.

In order to meet the Performance Management Team's deadline, your reply is
needed by Friday, September 22, 2000. We appreciate your assistance in this
matter.

Our records show the following Associates and Analysts under your PRC review.

Joana  Ryan, Associate
Tracee  Bersani, Associate

Thanks in advance for your cooperation.   Please feel free to call Shelly
Butler @
713-853-4584 or Jana Giovannini @ 713-853-9233 with any questions you might
have.


Nothing for me.

	Holly Keiser@ENRON_DEVELOPMENT
	05/30/2001 09:09 AM

		 To: Anne C Koehler@ECT, Brent Hendry@Enron, Carol St Clair@ECT, Cheryl
Nelson@Enron, Esmeralda Gonzalez/ENRON@enronXgate, Francisco Pinto
Leite/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Frank
Sayre/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Holly
Keiser/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Kaye Ellis@ECT, Mark
Greenberg@ENRON, Mark Taylor@ECT, Mary Cook@ECT, Robert Bruce@Enron, Samantha
Boyd@Enron, Sara Shackleton@ECT, Sheri L Cromwell/Enron@EnronXGate, Stephanie
Panus/NA/Enron@Enron, Susan Bailey@ECT, Taffy Milligan@ECT, Tana Jones@ECT,
Theresa Zucha/NA/Enron@Enron
		 cc:
		 Subject: Reminder

Timesheets are due tomorrow... May 31.  Please send me your exceptions for
May 16-31.

Thanks!

Holly Keiser
Enron Americas
Legal Department - EB 3887
713-345-7893 (ph)
713-646-3490 (fx)
Holly.Keiser@enron.com


Valarie and Monica,

Further to Chris's email below, I wanted to let you know that everything in
his memo is accurate. From my viewpoint, we have complied with all the
procedures necessary to terminate the Agreement with CanFibre and thus I
consider the Agreement to be terminated.

My litigation colleague, Richard Sanders, will be in the Portland office on
Thursday to talk with Tim Belden about the possible risks associated with the
early termination of the Agreement.

Please let me know if you have any questions as to the termination of the
CanFibre Agreement.

Thanks,

Shari Stack
ENA Legal

----- Forwarded by Shari Stack/HOU/ECT on 10/31/2000 05:22 PM -----

	Chris H Foster
	10/30/2000 04:23 PM

		 To: Valarie Sabo/PDX/ECT@ECT, Monica Lande/PDX/ECT@ECT
		 cc: Shari Stack/HOU/ECT@ECT, Tim Belden/HOU/ECT@ECT, Kyle
Gibson/NA/Enron@Enron, Tracy Ngo/PDX/ECT@ECT
		 Subject: Can Fibre

As indicated on the attached memo, the CanFibre deal is terminated.  We no
longer have a forward obligation to serve Can Fibre.  Our forward position
reports should no longer reflect a sale to Can Fibre.  No more invoices will
be sent and the matter is forwarded to legal to recoup outstanding
receivables and manage any future issues.  Shari will send you an e-mail
indicating that the legal department concurs with this assessment.

Thanks!

Chris


Eric,

Thank you for your message. The only other message in my mailbox
from you is dated 6/11/2000 and contains a reference to a resume I cannot
locate. I checked the log of all the messages and could not find any other
communication from you.

Please, send a message with a resume again and we shall go from there.

Vince Kaminski

Eric Hilton <ehilton@earthlink.net> on 06/21/2000 08:37:58 PM
To: Vince.J.Kaminski@enron.com
cc:
Subject: contact information

Dear Mr. Kaminski,

        I sent my resume to your well respected company a few weeks ago
in regards to establishing a long-lasting career with them. I never
received a response and was wondering if you knew who was in charge of
the electric power disbatching/scheduling department or know of who I
may contact to inquire this information? I know you are a very busy
professional and I apologize for the inconvenience.  Thank you for your
valuable time.

Warmest Regards,
Eric Hilton


Kaye
Please forward the attachment
Thanks


Pam:
That sounds great!  I would love to see them too.
Carol

	Pamela.Ewen@bakerbotts.com
	05/22/2000 10:27 AM

		 To: Carol.St.Clair@enron.com
		 cc:
		 Subject: RE: How Are You?

That sounds good. Do you want me to see if Janet Greene and Midge can go?

-----Original Message-----
From: Carol.St.Clair@enron.com [mailto:Carol.St.Clair@enron.com]
Sent: Friday, May 19, 2000 3:00 PM
To: Pamela.Ewen@bakerbotts.com
Subject: RE: How Are You?

Pam:
Let's try Wednesday, June 7th.

Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)

                    Pamela.Ewen@bake

                    rbotts.com              To:     Carol.St.Clair@enron.com

                                            cc:

                    05/19/2000 10:32        Subject:     RE: How Are You?

                    AM

Hi Carol. I'm really thrilled for you. How long do you plan to stay out?

     Scott and Andrea are having a baby! So I'll be a grandmother in
November. The first draft is on the web--a sonogram.

     How about June 5 - 8 any day for lunch?  Pam

-----Original Message-----
From: Carol St Clair [mailto:Carol.St.Clair@enron.com]
Sent: Thursday, May 18, 2000 6:19 PM
To: pamela_ewen@bakerbotts.com
Subject: How Are You?

Pam:
How are things with you?  I am doing great and feeling great!  I've got
about
another 8 weeks to go and I'm looking forward to getting this part over
with.  I
hope to work until pretty close to the end if my doctor lets me.  Are you
free
for lunch anytime soon?  I would love to see you and catch up.  E-mail me
back
with some good dates and hopefully we can get together.  Tell Patti I said
hi.

Carol


Thanks for the note.  I am forwarding it on to our analyst and associate
recruiting program leaders.  We may have already filled the summer spots (we
also cut  down the number  a bit this year to ensure a higher quality
experience), but we will be out looking for a large number of permanent hires
in the Fall.

	Severin Borenstein <borenste@Haas.Berkeley.EDU>
	03/31/2001 06:00 PM

		 To: Steve Kean <skean@enron.com>
		 cc: James Bushnell <jimb@IEOR.Berkeley.EDU>
		 Subject: Job candidates for Enron

Dear Steve:

Jim Bushnell and I are teaching a course called "Energy Market Strategies
and Policies" this semester.  The course is cross-listed between the Haas
School of Business and the Energy & Resources Group at UC Berkeley.  The
syllabus for the course is attached.

We have 43 graduate students in the course, most pursuing a masters degree
in business or energy & resources, though there are also a few PhD
students.  These are very smart students -- many of whom already have
experience in the energy industries -- and we believe the course puts them
in a position to immediately contribute to any energy-related organization
that they would join.

Many of these students are interested in either summer or permanent
employment starting as early as May.  If Enron has openings that you would
like to advertise to these students, please send me the job description
(or the URL for it)and I can forward it to the class list.

Jim and I think this is a very strong class, and many of the students are
interested in making a career in either the business or the public policy
side of
the energy industry.  We're hoping to provide the connections to help make
sure
they find the best job matches possible.

Sincerely,
Severin

_________________________________________________________________
Severin Borenstein

E.T. Grether Professor of Business
  Administration and Public Policy   Director
Haas School of Business              U.C. Energy Institute
University of California             2539 Channing Way
Berkeley, CA 94720-1900              Berkeley, CA 94720-5180
(p) 510-642-3689                     (p) 510-642-5145
(f) 707-885-2508                     http://www.ucei.org

Email: borenste@haas.berkeley.edu
WWW: http://haas.berkeley.edu/~borenste

 - EnergyMarketsSyllabus.pdf


This FRIDAY, DECEMBER 8, 2000 (5:00 p.m. CST) is the deadline for deferral
program enrollment.  Following the deadline, no new elections or changes to
existing elections will be accepted.
To learn more about your deferral program opportunities and to enroll for
2001 deferrals, access eHRonline at http://ehronline.enron.com.  (Call the
ISC Help Desk at 713-345-4727 if you need your ID or password to access the
system.)

1. Review the program descriptions (attached to the Election Form) before you
make your elections.
2. If you decide to defer compensation, complete the Election Form before
Friday, December 8,  2000, 5:00 p.m. CST (the enrollment deadline).
3. Print your 2001 Election Form and Confirmation Statement right from the
web site and you,re   finished!

DEFERRAL ENROLLMENT 2001--ADDED VALUE FOR YOUR FUTURE


hello, nope I haven't had chance to get my bike from my parents house,
actually didn't go over there this weekend.  I am felling better, I really
think I needed that sleep.  I have to get those prc things done and get
everything ready for the big NO trip.  We'll see how things are going this
week...  sp

	From:  Clint Dean @ ENRON                           05/21/2001 12:48 PM

To: Stephanie Piwetz/HOU/ECT@ECT
cc:
Subject:

I'm glad you are feeling better.  Did you ever get a chance to get your bike
from your parents house?  Maybe when can go riding some time soon.  Let me
know if you want to get together some time this week after work.  I know you
probably have a lot to do before your weekend coming up.

Clint


Recognizing Enron,s increasing worldwide presence in the wholesale energy
business and the need to insure outstanding internal controls for all of our
risk management activities, regardless of location, a global risk management
operations function has been created under the direction of Sally W. Beck,
Vice President.  In this role, Sally will report to Rick Causey, Executive
Vice President and Chief Accounting Officer.

Sally,s responsibilities with regard to Global Risk Management Operations
will mirror those of other recently created Enron global functions.  In this
role, Sally will work closely with all Enron geographic regions and wholesale
companies to insure that each entity receives individualized regional support
while also focusing on the following global responsibilities:

1. Enhance communication among risk management operations professionals.
2. Assure the proliferation of best operational practices around the globe.
3. Facilitate the allocation of human resources.
4. Provide training for risk management operations personnel.
5. Coordinate user requirements for shared operational systems.
6. Oversee the creation of a global internal control audit plan for risk
management activities.
7. Establish procedures for opening new risk management operations offices
and create key benchmarks for measuring on-going risk controls.

Each regional operations team will continue its direct reporting relationship
within its business unit, and will collaborate with Sally in the delivery of
these critical items. The Houston-based risk management operations team under
Sue Frusco,s leadership, which currently supports risk management activities
for South America and Australia, will also report directly to Sally.

Sally retains her role as Vice President of  Energy Operations for Enron
North America, reporting to the ENA Office of the Chairman.  She has been in
her current role over Energy Operations since 1997, where she manages risk
consolidation and reporting, risk management administration, physical product
delivery, confirmations and cash management for ENA,s physical commodity
trading, energy derivatives trading and financial products trading.

Sally has been with Enron since 1992, when she joined the company as a
manager in Global Credit.  Prior to joining Enron,  Sally had four years
experience as a commercial banker and spent seven years as a registered
securities principal with a regional investment banking firm.  She also owned
and managed a retail business for several years.

Please join me in supporting Sally in this additional coordination role for
global risk management operations.


The revised eSpeak schedule is attached for your review.  FYI -- Jeff has
taken Ken's spot on Wednesday, March 8. and Ken will host on Thursday, April
13.

We hope you have a wonderful weekend!

The eThink Team


Cathy,

I shall appreciate 4 tickets, any day. I shall use them internally
as a token of appreciation for the members of my group.

Vince

From: Cathy Phillips on 03/30/2001 08:45 AM
To: Jeffrey A Shankman/HOU/ECT@ECT, Doug
Arnell/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Alan Aronowitz/HOU/ECT@ECT,
Pierre Aury/LON/ECT@ECT, Sally Beck/HOU/ECT@ECT, Rick
Bergsieker/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Stephen H
Douglas/HOU/ECT@ECT, Jennifer Fraser/HOU/ECT@ECT, Shanna
Funkhouser/Corp/Enron@ENRON, Eric Gonzales/LON/ECT@ECT, Gary
Hickerson/HOU/ECT@ECT, Vince J Kaminski/HOU/ECT@ECT, Larry
Lawyer/NA/Enron@Enron, Chris Mahoney/LON/ECT@ECT, George
McClellan/HOU/ECT@ECT, Thomas Myers/HOU/ECT@ECT, John L Nowlan/HOU/ECT@ECT,
Beth Perlman/HOU/ECT@ECT, Brent A Price/HOU/ECT@ECT, Daniel Reck/HOU/ECT@ECT,
Cindy Skinner/HOU/ECT@ECT, Stuart Staley/LON/ECT@ECT, Mark
Tawney/HOU/ECT@ECT, Scott Tholan/Corp/Enron@Enron, Lisa Yoho/NA/Enron@Enron,
Neil Davies/Corp/Enron@ENRON, Per Sekse/NY/ECT@ECT, Stephen H
Douglas/HOU/ECT@ECT, Scott Vonderheide/Corp/Enron@ENRON
cc: Cathy Phillips/HOU/ECT@ECT, Jennifer Burns/HOU/ECT@ECT, Angie
Collins/HOU/ECT@ECT, Donna Baker/HOU/ECT@ECT, Helen Marie Taylor/HOU/ECT@ECT,
Chantelle Villanueva/HOU/ECT@ECT, Betty J Coneway/HOU/ECT@ECT, Patti
Thompson/HOU/ECT@ECT, Cherylene R Westbrook/HOU/ECT@ECT, Candace
Parker/LON/ECT@ECT, Sharon Purswell/HOU/ECT@ECT, Gloria Solis/HOU/ECT@ECT,
Brenda J Johnston/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Kim
Hickok/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Susan McCarthy/LON/ECT@ECT, Paula
Forsyth/Corp/Enron@ENRON, Shirley Crenshaw/HOU/ECT@ECT, Jody
Underwood/NA/Enron@ENRON, Kathleen D
Hardeman/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Judy Zoch/NA/Enron@ENRON,
Sunita Katyal/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Cherry Mont/NY/ECT@ECT,
Lydia Reeves/HOU/ECT@ECT, Kristy Armstrong/Enron@EnronXGate, Nita
Garcia/NA/Enron@Enron, Christina Brandli/Enron@EnronXGate
Subject: Astros Season Tickets

Astros Tickets Available

Please note that the tickets for the Astros games scheduled for Saturday,
March 31st, through Sunday, April 8th, (no game on Monday, April 2nd) are
still available.  Please let me know this morning if you are interested in
any of the tickets.  Thank you.

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

As Mike mentioned at the staff meeting yesterday, Enron Global Markets has
season tickets for the Houston Astros for the 2001 season which begins this
Friday, March 30th, with an exhibition game against Boston.  Exhibition games
are also scheduled for Saturday, March 31st, and Sunday, April 1st.  The
regular season opening game will be on Tuesday, April 3rd.

We have four seats in section 116, row 33, seats 20 - 23.  The seats are
located in the dugout section between home plate and the visitor's dugout.

The tickets are available on a first come, first serve basis with preference
given for customer entertainment if more than one request is received for the
same game.  Please contact me at X-36898 or via e-mail at
cathy.phillips@enron.com to request tickets.  In addition, copies of the
Astros 2001 Season Schedule are available upon request.

Please let me know if you have any questions.  Thank you.

Cathy Phillips
X-36898
EB 3327


Notice No. 01-62
February 16, 2001

TO:
All COMEX Members/Member Firms
All COMEX Clearing Members
All COMEX Floor Traders
All COMEX Operations Managers

FROM:
Michael Campanelli, Vice President
Floor Operations / COMEX Division

RE:
Options Expiration Operational Procedures for the Trading Floor and Clearing
Members
______________________________________________________________________________

The expiration date for the March 2001 options contract for Copper (HXH01) is
Friday, February 23, 2001.

 GENERAL OPERATIONAL PROCEDURES

All Clearing Members and Qualified Floor Traders that carried an options
position as of the close of business day prior to the expiration day, or
engaged in trading activity on Expiration Day in the expiring options
contract will be required to have a knowledgeable, duly authorized on-line
trade entry (&OLTE8) system trained representative available until released
by the Exchange staff.  All adjustments  and/or corrections, must be
accompanied by relevant supporting documentation prior to being incorporated
into expiration processing, in essence making the expiration processing an
extension of the afternoon trade resolution procedures.

Exchange Clearing (299-2110) and Trade Processing (299-2465 and 299-2044)
personnel will be available to assist with the processing of notices of
Exercise and Abandonment, position transfers, trade corrections and other
questions or problems you may have.

Failure by any Clearing Member or qualified Floor Trader to comply with
procedures as outlined herein may result in severe disciplinary action by the
Exchange and potential financial liability to customers or members for
failure to exercise diligence in the processing of information.

TRADING FLOOR OPERATIONAL PROCEDURES

Trading in the March 2001 Copper Options Contract will cease at 2:00 P.M. on
February 23, 2001. All Brokers and Traders must inform their Clearing Members
of their intentions to exercise or abandon such Options by 4:00 P.M.

On Friday, February 23, 2001, all Brokers and Clearing Members must have a
duly authorized, On-Line Trade Entry (&OLTE8) system trained representative
available until such time as the Exchange deems necessary.

NOTE: After 4:30 P.M. all expiring option trade data must be inputted on
special &OLTE8 terminals located in the Trade Processing Room.  Any other
means of submission will be rejected by the Exchange.  Members will be able
to submit all other trade data until 5:00 P.M.

After the Unmatched Trade Reports and the Preliminary Spot Month Matched
Trade Reports are displayed, Clearing Member representatives will be able to
pick up their Preliminary Clearing Reports at the Clearing Department.

A final review of all submissions will be made.  The Supervisor of the Trade
Processing Room will detain only those Clearing Members and/or Broker
representatives involved.  All final corrections will be made at this time
and upon determination of the Supervisor that all option processing is
complete, all representatives will be released.

Exchange Reports based on Friday,s submissions and processing will be
available on Monday morning February 26, 2001.

In the event that you have any questions regarding the foregoing trading
floor procedures please contact Michael Campanelli at (212) 299-2072 or David
Sherman at (212) 299-2061.

CLEARING DEPARTMENT OPERATIONAL PROCEDURES

1. OPEN POSITION CONFIRMATION (&OPC8) - The OPC should reflect as accurately
as possible all futures and options gross positions as of close-of business
on the business day prior to expiration.  Review the estimated current gross
positions as shown and make appropriate adjustments.  The OPC must be
submitted not later than 9:00 A.M.

2.   OPTIONS EXERCISE/ABANDONMENT REQUESTS FORM (&E/A8) - An expiring option
with a strike price in-the-money by one tick or more will be subject to
automatic exercise unless an Option Abandonment Request form is submitted
advising that a Clearing Member (&CM8) elects to abandon some or all of its
position in that strike price (i.e., for the option series).  All other
options series in the expiring month will be subject to automatic abandonment
unless an Option Exercise Request form is submitted.  When submitting an E/A
form, please note the following:

(a) An E/A form must be submitted not later than 5:00 PM.
(b) Do not submit an Exercise form for positions in strike prices which are
subject to automatic
Exercise nor submit an Abandonment form for positions in strike prices which
are subject to automatic abandonment.
(c) If a CM wishes to submit an E/A form to abandon a position in a strike
price subject to automatic exercise or wishes to exercise a position in a
strike price which is out of the money, it is necessary to notify Clearing by
telephone of such anticipated action.  The CM must have an officer available
to confirm such intention.
(d) CMs may secure from Clearing a time-stamped receipt of the CM copy to
assure submission  of the CM,s E/A forms.

3. OPTION POSITION REDUCTION REQUEST FORM (&OPRR8) - As a general rule,
purchases and sales of option contracts are presumed to be new business.   If
some or all of your purchases and sales are in fact undertaken for position
liquidation purposes, OPRR forms may be submitted on the day of expiration
and will be used in conjunction with trade data to reduce your projected
position in an expiring contract.  OPRR requests in excess of actual traded
volume will be rejected.  Exception: Cabinet trades and cancel correction
trades will automatically liquidate existing positions, therefore do not
submit an OPRR form for cabinet or cancel correction trades.
The OPRR form must be submitted not later than 5:00 PM.

4. HOUSE/CUSTOMER POSITION TRANSFER REQUEST FORM (&H/C8) - H/C forms may be
used only to transfer previously cleared contracts between a CM,s house and
customer accounts.  Problem trades (those which have not cleared prior to
expiration day) must be corrected using COMEX,s on-line trade entry system
under the direct supervision of the Trade Audits Department of COMEX (&Trade
Audits8).  The H/C form must be submitted not later than 3:30 PM.

5. EX-PIT POSITION TRANSFER REQUEST FORM (&Ex-Pit8) - Ex Pit forms may be
used only to transfer previously cleared contracts between CMs.  Problem
trades (those which have not cleared prior to expiration day) must be
corrected on the on-line trade entry system under the direct supervision of
Trade Audits.  The Ex-Pit form must be submitted not later than 3:30 PM.

 *****
A) At approximately 4:15 PM, two PRELIMINARY reports of the expiration
process will be available for distribution at the NYMEX Clearing Department:

1. OPTION EXPIRATION REPORT AND CONFIRMATION - The purpose of this report is
to project the CM,s present position going into the expiration based upon the
transactions which have already been submitted to Clearing.  CMs should
review and modify their adjusted gross positions as of close-of-business on
the business day prior to expiration.  Further adjustments may be submitted
not later than 5:00 PM.  The projected ending gross positions will reflect
transactions accepted or rejected for clearance on expiration night,
inclusive of Ex-Pit, H/C and OPRR transactions which have been submitted to
Clearing prior to 3:30 PM, and trade information submitted to COMEX prior to
3:45 PM.  Normally, this report will also reflect manually submitted Exercise
and Abandonment instructions, the projected number of exercises and maximum
potential assignments for each strike price, the type of exercise (manual or
automatic), whether the strike is In, At or Out of the money, and the
exercise val!
ue!
 associated therewith based on settlement prices established by COMEX on the
day of expiration.

2. TRANSACTION LISTING - This listing will include in detail all expiring
option trades submitted to COMEX prior to 3:45 PM on expiration day, and all
H/C, ExPit, OPRR and E/A transactions submitted to Clearing Prior to 3:30 PM.

Please note: Trade information reflected on the option expiration report and
transaction listing are trades submitted only. To inquire whether trades have
matched, each CM must review the trade reports provided by COMEX,s On-Line
Trade Entry (&OLTE8) system.

B) At approximately 5:30 PM, FINAL reports of the expiration process,
including all submissions to Clearing and trade information submitted to
COMEX made by 5:00 PM, will be available for distribution at the NYMEX
Clearing Department.

C) At 5:45 PM, Preliminary In The Money Abandonment and Out Of The Money
Exercise information will be announced on Fast Facts.

D) At Approximately 7:30 PM, a Final Notice of Exercise/Assignments will be
available in each CM,s lockbox located at the NYMEX Clearing Department.
Each CM which has exercised or been assigned one or more options will receive
a separate statement showing exercises and/or assignments for each option
series.  Please check this statement carefully.  Although long options
positions in-the-money by one tick or more will be automatically exercised,
not all short option positions will be assigned if there are any options
manually abandoned at such strike prices.  Please note that there also may be
some at or out-of-the money options being exercised.

E) At approximately 9:00 PM, the final set of clearing sheets will be
available in each CM,s lockbox located at the NYMEX Clearing Department.

It is strongly recommended that each CM have a representative(s) that is
properly trained to handle the option expiration process available beginning
at 4:15 PM and who will receive the CM,s reports at the specific times.  It
is solely the responsibility of the CM to review these reports and to notify
the Clearing staff immediately of any discrepancies.

To obtain the exact time of the availability for each report, clearing
members should call (212) 513-7405, access code 702.  The announcement time
will occur 1/2 hour prior to availability.

Attached please find a Clearing Member Procedure Summary for ease of
reference.  Please contact John Ramos at (212) 299-2142 (Members 001-500) or
Mel Garcia at (212) 299-2144 (members 501-999) if you have any questions.

OPTION EXPIRATION PROCESSING CLEARING MEMBER PROCEDURE SUMMARY

Time: 3:30 PM
Activity: Expits, H/C transfers, Option Position Reduction and
Exercise/Abandon notices
Event: Submission to Clearing cutoff time.
Notes: Final cutoff for Expits and H/C tranfers

Time: 3:45 PM
Activity: Call Fast Facts to obtain availability time of Preliminary Option
Expiration Reports.
Event: Fast Facts notice of Availability

Time: 4:15 PM
Activity: Preliminary option expiration reports available to clearing members
at NYMEX Clearing Department

Time: 5:00 PM
Activity: Options Position Reduction, Exercise/Abandon notices and Gross
Position Adjustments
Event: Submission to Clearing Cutoff Time
Notes: Final cutoff for Option Position Reduction, Exercise/Abandon notices
and Gross Position Adjustments

Time: 5:05 PM
Activity: Call Fast Facts to obtain availability time of Final Preliminary
Option expiration Reports
Event: Fast Facts notice of Availability

Time: 5:30 PM
Activity: Final Preliminary option expiration reports available to clearing
members at NYMEX Clearing Department.

Time: 5:45 PM
Activity: Call Fast Facts to obtain Preliminary In the Money Abandonment and
Out of the Money Exercise Information
Event Fast Facts notice of information
Notes: New Event

Time: 6:00 PM
Activity: Corrections to previously Submitted Adjustments or Notices
Event: Correction period cutoff time (30 minutes after final preliminary
report is distributed)
Notes: Final cutoff for corrections

Time: 7:00 PM
Activity: Call Fast Facts to obtain availability of final expiring option
position and Exercise/Assignment report
Event: Fast Facts notice of Availability

Time: 7:30 PM
Activity: Final expirating options position and Exercise/Assignment report
available in clearing member's lockbox at NYMEX Clearing Department

Time: 8:30 PM
Activity: Call Fast Facts to obtain availability of final clearing reports.
Event: Fast Facts notice of Availability

Time: 9:00 PM
Activity: Final clearing reports available in clearing member's lockbox at
NYMEX Clearing Department.

Please contact John Ramos at (212) 299-2142 (Members 001-500) or Mel Garcia
at (212) 299-2144 (members 501-999) if you have any questions.

__________________________________________________
Please click on the link below to indicate you have received this
email.

"http://208.206.41.61/email/email_log.cfm?useremail=sara.shackleton@enron.com&
refdoc=(01-62)"

Note: If you click on the above line and nothing happens, please copy
the text between the quotes, open your internet browser,
paste it into the web site address and press Return.


And the nominees are (envelope please):

Risk assessment - Fiona Grant

Southern Cone - Hennemeyer

Japan - Philip Davies

Resource Allocation - Doug Wood

Market structure - Dawson (chair, as noted)

Global Standards - Alfredo Huertas

Rates and Tariffs - Kyran Hanks

International Support -  Schroeder (me)

WTO - Peter Styles

Information Resources - Stephen Jones

I will, also, be liaising regularly with each of the people, and feeding my
own thoughts into each of the working groups through the assigned person.
mcs

Maureen McVicker@EES
14/12/99 21:44
To: SK DIR REPORTS CONF CALL
cc: SK DIR REP CONF CALL ASST

Subject: WORKING GROUP LISTS

Just FYI - here is a list of the Working Groups

Risk assessment and management (Steffes)

Southern Cone (Bestard)

Japan (O'Day)

Resource allocation (Shapiro)

Market structure (Dawson?)

Global standards (Brown)

Rates and tariffs (Kingerski)

International support for
EES (Kingerski)
ECI (Bolton)
EWC (Boyd)

WTO (Hillings)

Information Resources (Charvel)


I've looked into whether we can terminate our Val Verde interconnect
agreement with Burlington, and have determined we may do so only if we take
the following steps:

1.  Terminate the OBA by giving 30 days notice to Burlington.  Paragraph 13
of the 6/1/94 OBA with Burlington (as successor in interest to Meridian)
provides that either party may terminate the OBA "at the end of the primary
term, or thereafter by providing thirty (30) days prior written notice" to
Burlington.  (The one-month primary term ended June 30, 1994 and has since
gone month-to-month.)

2.  On the effective termination date of the OBA, terminate the interconnect
agreement by giving 30 days notice to Burlington.    The 12/31/92
Interconnect Point Operating Agreement, Paragraph 6, provides that either
party may terminate on 180 prior notice after expiration of the primary
term.  This is of limited use to us since the primary term does not expire
until 12/31/02.  However, the paragraph also provides that the agreement "may
be terminated by either party upon thirty (30) days prior written notice in
the event the OBA between the parties is terminated."

As we've already discussed, termination of the agreement is an extreme
measure from a customer relations standpoint and we probably need to weigh
our other options first.  Let me know if you have further questions.


Me too.
--------------------------
BlackBerry Wireless

-----Original Message-----
From: Yoder, Christian <Christian.Yoder@ENRON.com>
To: DL-Portland World Trade Center <DL-PortlandWorldTradeCenter@ENRON.com>
Sent: Tue Dec 18 19:12:23 2001
Subject: Lunch on Thursday

Friends and Co-Workers:

You are hereby cordially invited to a pre-holiday office lunch this Thursday at approximately 11:30 a.m, courtesy of the Trading Attorneys.

LEGAL NOTICE:  Christian Yoder and Steve Hall (hereinafter "we" or "our" or "us" ) intend to pay for the food (which will probably, but not necessarily, be pizza and salad) with post-petition Chapter 11 salary dollars that have already cleared our respective individual bank accounts and, therefore, by joining us in the meal ("Lunch") you will not be exposed to any retroactive claw-back risk by way of the Cash Account Committee.  We are also investigating the possibility of providing a limited quantity of a certain kind of beverage ("Beer") under a provisional waiver of the defunct pre-petition Company's drinking policies, subject to approval by the Estate's Liquor Control Board which is being sought on an expedited basis.

We feel like making this modest holiday gesture for several reasons:

1.  It has been a pleasure working with you all during the past year.
2.  We are optimistic about this office's prospects in the upcoming year.
3.  American Express forgot to cancel our Corporate Cards.

We hope you will join us for a free lunch as we look forward to a prosperous New Year.

Christian and Steve


These deals should be change to sells not buys.....they are already buys in
enpower

   Kate Symes @ ECT                04/09/2001 04:34 PM

To: Evelyn Metoyer/Corp/Enron@ENRON
cc:

Subject: Re: 4/9 Checkout

PREBON
Both Phil's deals have been changed to buys already, and Mike is entering the
AEP sale right now.

Thanks,
kate

Evelyn Metoyer@ENRON
04/09/2001 02:30 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: 4/9 Checkout

AMEREX WEST
All deals are o.k.

PREBON

Phil Platter
deal 574394
Prebon show as a sell.....enpower has buy

Phil Platter
deal 574395
Prebon show as a sell.....enpower has buy

Mike Swerzbin
I am missing the following deal:
Enron sells to AEP Cal'02 NP-15 25 mw at $132.00 peak hrs.

BLOOMBERG
All deals are o.k.


Better late than never!!

EFF_DT PORTFOLIO_ID DOWN95
2/5/01  MANAGEMENT-COAL 0
2/5/01  MANAGEMENT-CRD 372,344
2/5/01  MANAGEMENT-GAS 1,387,804
2/5/01  MANAGEMENT-PWR 175,302
2/5/01  AGG-MANAGEMENT 1,470,940


---------------------- Forwarded by Mark - ECT Legal Taylor/HOU/ECT on
06/23/99 11:42 AM ---------------------------

Justin Boyd
06/23/99 10:12 AM
To: Mark - ECT Legal Taylor/HOU/ECT@ECT
cc: raislerk@sullcrom.com
Subject: Documents attached

Mark,

Here are copies of the latest versions of:

the ETA
the PA
the Read Only PA
GTC (for financial trades)

Material changes have been marked.

Justin


Here is a copy of the CPUC's decision on Sept 20
 -----Original Message-----
From: 	Comnes, Alan
Sent:	Thursday, September 20, 2001 2:30 PM
To:	Dasovich, Jeff; Mara, Susan; Hall, Steve C. (Legal); Savage, Gordon; Swain, Steve; Curry, Wanda
Subject:	Today's Direct Access Decision

scanned


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 11/17/2000
05:41 PM ---------------------------

Tarun Mukherjee <tmukherj@uno.edu> on 11/16/2000 10:04:30 AM
To: Vkamins@ect.enron.com
cc: gwhitney@uno.edu, wlane@uno.edu
Subject: Moffett Chair

Dear Dr. Kaminski,

I invite you to apply  for the  recently announced endowed chair position in
our department. The position, James R. Moffett Chair, is named after the CEO
of Freeport McMoran. You come highly recommended by John martin of Baylor
whose opinion we value greatly.

The attached file provides more information regarding the required
qualification and responsibilities of the Chair.  If you have any question,
please feel free to contact me (I am co-chair of the search committee),
Professor Gerald Whitney (gwhitney@uno.edu, Co-chair of the search
committee), or Dr. Walter (Dub) Lane (wlane@uno.edu, the Department Head).

We look forward to receiving your application soon.

Tarun K. Mukherjee
Professor of Finance and Co-Chair, James R. Moffett Search Committee
Department of Economics and Finance
University of New Orleans
New Orleans, LA 70148
(504)280-7146-Work
(504)-280-6397--Fax

 - Ad for Moffett Chair-.doc


Jim

Hi there, following up from my call earlier...

I am working as part of a team implementing financial trading agreements with our intra group counterparties. Part of that process involves contacting the directors of each enterprise and clarifying certain pieces of information. I know that you are a director of the following companies:

Enron Trading Services Inc
Enron Metals and Commodities Ltd
Enron Metal Brokers Ltd
Enron Metals Far East Ltd

Could I ask that you confirm the following with respect to each company?

Whose signature would be required on any new trading agreement for the company?
Would there need to be a corporate resolution in order to sign the new trading agreement?

Thanking you very much in advance for your time,

Best Regards
Lauren Christie
(London Office)


John,
Checking in on TCO cap we talked about last week (to Market Areas 2 and 25).  Any word on what you have available for Nov - Mar?  And, the ROFR element?  Call me.
Paul


That was just plain  MEAN.  I'm having a bad enough day...I don't need your
crap too!

Have a good evening.  Talk to ya tomorrow.

RR

Ryan Watt
06/08/2000 07:03 PM
To: Robin Rodrigue/HOU/ECT@ECT
cc:
Subject: Re: How's it looking?

We're off!!!

by 0.70 contracts....talk to you tomorrow!

Robin Rodrigue
06/08/2000 06:00 PM
To: Ryan Watt/CAL/ECT@ECT
cc: Nicole LaPorte/CAL/ECT@ECT

Subject: Re: How's it looking?

Sorry it took so long.

Robin

Ryan Watt
06/08/2000 06:49 PM
To: Robin Rodrigue/HOU/ECT@ECT
cc:
Subject: How's it looking?


---------------------- Forwarded by Kay Mann/Corp/Enron on 10/10/2000 03:07
PM ---------------------------
From: Ann Elizabeth White@ECT on 10/10/2000 03:04 PM
To: Kay Mann/Corp/Enron@ENRON, Stuart Zisman/HOU/ECT@ECT
cc: Steve Van Hooser/HOU/ECT@ECT

Subject: Re: Option Agreement and Easement

Kay and Stuart

I'm not working on this project but the forms of agreements are modified from
forms I prepared and had reviewed by outside counsel in Mississippi and
Alabama for legal sufficiency.    I prepared the basic forms for Steve Walton
in March of this year after he had contacted Steve Van Hooser for assistance
in drafting real estate documents on the Caledonia project.  Steve Walton
then provided them to Robert Shaw to use for acquisition of property in ENA's
name.  I haven't heard anything about the project since then.

	Kay Mann@ENRON
	10/10/2000 02:19 PM

		 To: Elizabeth Sager/HOU/ECT@ECT, Stuart Zisman/HOU/ECT@ECT, Barbara N
Gray/HOU/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT, Sheila Tweed/HOU/ECT@ECT, Bob
Carter/HOU/ECT@ECT, Barton Clark/HOU/ECT@ECT, Ann Elizabeth White/HOU/ECT@ECT
		 cc:
		 Subject: Option Agreement and Easement

This was sent to me by one of the developers.  I believe it relates to an
expansion (or new interconnection) of the Caledonia facility.  I don't know
which lawyer has been working on it, so I'm sending it around to see if
anyone claims it. Chris thought that someone from Power Trading may have been
working on it.

Kay

---------------------- Forwarded by Kay Mann/Corp/Enron on 10/10/2000 02:16
PM ---------------------------

	From:  Chris Booth                           10/10/2000 12:48 PM

To: Kay Mann/Corp/Enron@Enron
cc: Kathleen Carnahan/NA/Enron@Enron

Subject: Option Agreement and Easement

Kay,

This is the format for the land options that Robert Shaw of New Century is
using in Caledonia, MS.  Please advise if these documents are appropriate.

Thanks,

Chris
---------------------- Forwarded by Chris Booth/NA/Enron on 10/10/2000 12:42
PM ---------------------------

Mona Harvey <harveym@ncess.com> on 10/10/2000 11:20:08 AM
Please respond to "harveym@ncess.com" <harveym@ncess.com>
To: "Chris Booth (E-mail)" <Chris.Booth@Enron.com>
cc:

Subject: Option Agreement and Easement

Chris,
 Robert Shaw asked me to send these documents to you.

Please call either of us at 713-757-9771 if you need additional information.

Sincerely,
Mona Harvey

 - Easement - Caledonia Project (3-9-00).doc
 - Option to Purchase ROW-Caledonia Project (3-9-00).doc


Here are Reliant's comments.

thanks
brant

 -----Original Message-----
From:  mwong@reliantenergy.com@ENRON
[mailto:IMCEANOTES-mwong+40reliantenergy+2Ecom+40ENRON@ENRON.com]
Sent: Friday, March 02, 2001 4:38 PM
To: Reves, Brant
Subject: RE: gty status

Mark W Wong
02/27/2001 11:07 AM

To:   brant.reves@enron.com
cc:

Subject:  Re: Comments to guaranty formats

(See attached file: ENE-JV Guaranty Format.doc)
(See attached file: TEX-JV Guaranty Format.doc)
 - ENE-JV Guaranty Format.doc
 - TEX-JV Guaranty Format.doc


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---------------------- Forwarded by Don Miller/HOU/ECT on 12/07/2000 10:39 AM
---------------------------
From: Gus Eghneim@ENRON on 12/07/2000 10:34 AM
To: Don Miller/HOU/ECT@ECT
cc:
Subject: Re: Brownsville Storm Water Permit

Let us wait until Mitchell signs and sends out the letter. Then, we can get
them a copy of the signed letter. As far as the info in Mitchell's e-mail, I
do not see any problem in sharing this with them. It certainly helps make our
case that the NOV issue is resolved.

Gus.

	Don Miller@ECT
	12/06/2000 06:18 PM

		 To: Gus Eghneim/Corp/Enron@Enron
		 cc:
		 Subject: Brownsville Storm Water Permit

Gus,

Should this go to Cinergy?

Thanks,

Don
---------------------- Forwarded by Don Miller/HOU/ECT on 12/06/2000 06:17 PM
---------------------------

Donald Miller@ENRON
12/06/2000 05:30 PM
To: Don Miller/HOU/ECT@ECT
cc:
Subject: Brownsville Storm Water Permit

Hey Don,

Is this yours?

Regards
---------------------- Forwarded by Donald Miller/Corp/Enron on 12/06/2000
05:25 PM ---------------------------

	From:  Mitchell Hurt                           12/06/2000 04:23 PM

To: Gus Eghneim/Corp/Enron@Enron
cc: Donald Miller/Corp/Enron@Enron, Mitch Robinson/Corp/Enron@Enron

Subject: Brownsville Storm Water Permit

Gus,

I spoke with Mr. Jack Wade, TDEC concerning the Multi-Sector General Permit
for Construction, New Storm Water Permit and NOV Status at Brownsville Power..

The Multi-Sector General Permit was issued for construction in lieu of Storm
Water Permit by TDEC direction on August 7, 1998
If by July 1, 2000 the construction activities were not complete, BPI would
have had to transfer the TMGP to a new Storm Water Permit for Construction
that was promulgated this summer.
 The soil erosion control & countermeasures taken and completed by BPI on
June 15, 2000 has completely satisfied TDEC  concerns outlined in the NOV's
dated 2-28-99 and 5-1-00.   Mr. Wade asked my opinion of vegetative
stablization, which was the last condition by TDEC before allowing BPI to
terminate the construction permit,  I responded that, in my opinion, the
stablization throughout the facility was excellent.

I have attached a "Draft" letter to TDEC requesting the termination of the
TMGP.  Please review and comment at your earliest convenience.

Respectfully Mitchell


I will be attending the Harassment Avoidance Class 3/5/01 from 2:45 pm to
4:15 pm.

Kaye
----- Forwarded by Kaye Ellis/HOU/ECT on 02/20/2001 10:14 AM -----

	Ernie
	Sent by: Kaye Ellis
	02/20/2001 09:10 AM

		 To: Kaye Ellis/HOU/ECT@ECT
		 cc:
		 Subject: Class Confirmation - Harassment Avoidance

You are enrolled in the following class:

Harassment Avoidance

Class Days and Times:
  3/5/2001  02:45:00 PM - 04:15:00 PM
Room # & Location: DoubleTree-La Salle B,  Houston
Last Day to Cancel: 03/05/2001
Participant Fee: $50.00
Note:

Please review any prerequisite material to validate your eligibility in this
class.
Your Company and RC will be charged $50.00

If you have any questions, please call the Development Center Team at
713-853-0357.

Thank you.


-----Original Message-----
From: 	navigator@nisource.com@ENRON [mailto:IMCEANOTES-navigator+40nisource+2Ecom+40ENRON@ENRON.com]
Sent:	Wednesday, June 06, 2001 9:32 AM
To:	navigator@nisource.com
Subject:	CAPACITY ALLOC-TIMELY NOMINATION FOR CYCLE JUNE 7, 2001

                      COLUMBIA GAS TRANSMISSION CORPORATION
                        NOTICE TO ALL INTERESTED PARTIES
                                  JUNE 06, 2001

Notice ID: 2781
5 - NO RESPONSE REQUIRED

SUBJECT: CAPACITY ALLOCATION-TIMELY NOMINATION CYCLE FOR JUNE 7, 2001
         PLEASE NOTE THAT ALL ALLOCATIONS ARE SUBJECT TO CHANGE BASED ON THE
         RECEIPT OF ANY NEW NOMINATIONS OR INTRADAY NOMINATIONS.

Excess MDWQ               Available +
ISS Withdrawals           Available
SIT Withdrawals           Available
Imbalance Drawdowns       Available
PAL Lends/Unparks         Available

Excess MDIQ               Available +
ISS Injections            Available
SIT Injections            Available
Imbalance Paybacks        Available
PAL Parks/Loan Paybacks   Available

+ Call Gas Control 24 hours in advance at (304) 357-2606 to request approval.

Columbia Gas Transmission has completed allocating all of its receipt and
delivery points for the gas day of June 7, 2001.  You may now view the
quantities you are authorized to flow on June 7, 2001.  On the Internet
NAVIGATOR, view Nominations, Scheduled Quantity, Scheduled Quantity for Service
Requestor-Summary, Nominations to be Viewed, and select Reduced Nominations.
The quantities confirmed to flow for your account are available on the Internet
NAVIGATOR after 5:30 p.m. Eastern Time on Wednesday, June 6, 2001.

If you have any questions, please contact your Account Representative.


also, diablo is also running (reportedly) at about 10% of capacity due to
rough seas and difficulties that causes for cooling.


Eric,

Has this info been provided to Andrews and Kurth yet?  It is needed to finish
the facility agreement for the LM's, especially if you are trying to move
these out of the existing contract on Monday.

Thanks,

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 11/22/2000 08:29
AM ---------------------------

Kay Mann
11/20/2000 10:49 AM
To: Eric Boyt/Corp/Enron@Enron
cc: pthompson@akllp.com, Stuart Zisman/HOU/ECT@ECT

Subject: GE contract for the City of Austin project

 Eric,  here are some questions from Peter, the AK lawyer who is working on
the contract. If you can respond by return email, Peter can keep this moving.

1.  Payee and Address for Invoices referenced in Section 6.7.2 of
the Agreement

 2. Section 6.7.1 Agreement reference [you might see if NEPCO has a reference]

 3. For the recitals, what is the kW capacity of its plant and where
is the plant located?

 4. According to the spreadsheet, the Guaranteed Delivery Dates for
Units 9-11 was 10/30/00.  The Guaranteed Delivery Date for Unit 12 is
11/30/00.  Are these still the dates we are using?

 5. Please provide the serial numbers for Units 9-12 for Section
10.2.1.

 6. Please provide the names, addresses, etc. for Sections 25.1 and
25.3

Thanks,

Kay


Hi Steve -

Here's my contact info.  Can you send me your's.

I'm a bit skeptical of this whole exercise.  I'd like to hear more about
why you think any MOU process is preferable to bankruptcy?

J. Stuart Ryan
AES Pacific
Suite 3300
100 Pine Street
San Francisco, CA   94111

office:  415 395 7887
mobile:  415 608 0080


http://www.eyeforenergy.com/newsletter/newsletter_300501.htm

[IMAGE]	[IMAGE]				[IMAGE][IMAGE][IMAGE] HOME
EVENTS 	ADVERTISE 	INDUSTRY DIRECTORY 	[IMAGE]	[IMAGE]

    Thursday, May 31, 2001 Issue 29   EDITORIAL  Today and Tomorrow-what Asia faces and what we've all learned from the past  As you probably know, the Eyeforenergy team is off to Mexico next week for our Latin American e-business in energy conference.  But to prove that our interests are global, our Insight article this week focuses on the state of the energy in Asia.  Like their colleagues in Latin America, Europe and North America, energy executives in Asia are facing a host of changes-e-business, regulatory changes, and the commercialization of alternative and micro energy sources.  All of these are examined in the article below, and it paints an interesting picture of the state of play in Asia today and what sort of challenges they face tomorrow.   In other news, the move towards online trading continues apace in the energy industry (unlike recent developments in most other industries) with announcements by Pantellos and Duke Energy North America.  Pantellos' move into the international arena with its procurement solution points towards the increasing use of online marketplaces in the energy supply chain (or at least a refusal to give up in the wake of Petrocosm's demise).      While Duke's announcement of their move to OpenLink's software points towards the increasing use of Internet technology on the commodity side of energy trading.   Either way, the energy sector seems to be one of the few bright spots in the wake of the dot com gloom. The energy industry's measured response and refusal to jump on the e-commerce bandwagon at the start seems to be proving dividends now.  Perhaps the rest of the new economy is learning what it seemed that the energy industry always knew-the Internet is just another tool (a useful one, but just a tool) and at the end of the day you still need to get the oil out of the ground and the electricity to the customers.         Q&A   Mirroring the Marketplace   Founded in late 1997, Excelergy Corporation, Lexington, Mass., a developer of software products and technologies for online energy marketplaces, is one of several companies providing products and services in this arena.  Recently, eyeforenergy contacted Jay Sherry, vice president of global marketing, to discuss hybrid business models and approaches and the issues that face those trying to implement them.  Hybrid approaches to conducting e-commerce transactions online are rapidly finding a home in the retail energy space.  Such approaches are not being implemented for altruistic reasons; instead, for some, it's become the means to survival.  Determining other uses for existing technological expertise... Click here for Full Story      FOCUS   E-procurement- is it so much more than buying and selling goods and services online?   E-procurement involves companies buying their supplies online. As B2B e-commerce has become the next big thing in the corporate world. The chief beneficiaries of this trend are a growing list of software vendors, like Ariba and WebMethods, which provide applications that enable electronic procurement and also create Web-based trading communities.  In recent years, many Internet commerce procurement application offerings have come to market addressing the automation and economics of the procurement process. Service companies have begun to implement e-procurement applications and consult around the entire e-procurement process. Outsourcers... Click here for Full Story     Fuel Cell and Microturbine Roundup   The energy wires have been humming this past week with word of new and exciting technologies from the world of distributed generation, fuel cells, microturbines, solar photovoltaic and wind. Word of increased rolling brownouts and power interruptions in the west and pressure from environmental groups concerned over co2 emissions are shining the light on renewable energy sources as the world gears up to make sure the stream of power continues unabated.  With the dot-com meltdown in full swing venture capitalists in search of the "next big thing," are casting their eye on the energy sector. If you listen carefully you will be able to hear the words of an old song drifting on the wind, "Welcome back my friends to the show that never ends, we're so... Click here for Full Story      INSIGHT   Energy Opportunities in the Asia Pacific Region   With e-commerce in the Asia sector poised to explode, reaching 28 percent of the world's total by 2005, it's small wonder that the region has a firm eye on energy. B2B Internet commerce in the Asia/Pacific region (including Japan) reached US 96.8 billion in 2000 or 22 percent of the worldwide total of US $433.3 billion.  The Asia Pacific region has enjoyed a rapid economic expansion in recent decades with a corresponding demand for electricity. This has placed a severe strain on the ability of individual economies in the area to expand their electricity infrastructure capacity rapidly enough to meet the surge in... Click here for Full Story      ADVERTISEMENT  [IMAGE] Landmark Graphics and Petroleum Place -- Accelerating Business Efficiency   Landmark Graphics and Petroleum Place Delivers Enormous Efficiencies within Acquisition and Divestiture. How? Through online delivery of data and evaluation tools within an APS environment to afford dramatic efficiencies for both sellers and buyers. Visit www.petroleumplace.com   [IMAGE]  NEW! GLOBAL ENERGY REPORTS Emerging Markets Online specializes in global energy reports. Dozens of new reports are now available, including Latin American Oil and Gas Report, Power Generation in Latin America, Iraq Oil and Gas Report, European Energy Liberalization, Gas and Power in India, and more.  The site includes news and a Global Energy Projects Database! Register now to view FREE executive summaries at http://www.emerging-markets.com/login/energyreports.asp   [IMAGE]  NEWS ROUND UP - WEEK IN REVIEW   Trade-Ranger Teams With Wellogix for Online Collaboration and Procurement   Trade-Ranger and Wellogix are teaming up to enable an online solution for collaboration and procurement of tailor made goods and services.  Tailor-made goods and services represent more than 60 percent of the buying and selling activity in the energy and petrochemical industries.  Trade-Ranger and Wellogix together are reportedly the first to provide Internet tools for this type of trading.  "Our customers have told us that Trade-Ranger... Click here for Full Story     PG?Offers Incentives to Lower Energy Use   PG?is using technology from Silicon Energy to address California's energy concerns with incentives for commercial and industrial customers to lower energy use during peak hours.  Silicon Energy, a provider of Internet-based Enterprise Energy Management technology, today announced that Pacific Gas and Electric Company (PG&E) has selected its EEM Suite(TM) energy technology software as the infrastructure for PG&E's new Inter-Act program. Inter-Act was designed to promote... Click here for Full Story     Step Right Up and Place Your Bets on Alternative Energy     For the past thirty years the United States has flirted with the development of alternative and renewable sources of energy such as wind, and solar power. For a nation in lock step with fossil fuels development of alternative energy sources is a tough road to follow and has been a stumbling black... Click here for Full Story     Pantellos Marketplace Offers Global Transaction Services   Gathersburg, Md. and The Woodlands, Tx, May 24, 2001----Pantellos, the online marketplace serving the utility and energy sectors, is offering global transaction services through GE Global eXchange Services.  These These services will help buyers and sellers exchange business documents through the marketplace in a variety of formats -- allowing Pantellos suppliers to leverage their existing investments in electronic data interchange (EDI) technology, while benefiting from relationships within the Pantellos... Click here for Full Story     Endur Enhances Duke's Commodity Trading Platform   Houston, May 24, 2001---Duke Energy North America (DENA) is scrapping its internal trading and risk management systems and leveraging OpenLink Energy's Endur, to enhance its energy commodities and emissions trading, risk management and accounting capabilities.  ``OpenLink will provide Duke Energy with the front-through-back-office solutions necessary to manage our energy trading, risk management and operational requirements,'' said Terry Aschbacher, DENA vice president of commercial technology. ``Replacing multiple internal systems with Endur will... Click here for Full Story     MyUtility to Offer "Single Portal" for Energy and Communications Products   May 24, 2001---My Utility has announced plans to launch a Website that allows small commercial and residential the opportunity to buy and manage energy and communications products from leading suppliers, through a single portal.  Expected to get underway this autumn. the initiative, developed by former energy journalist Paul Miosga, hopes to tap into a latent market of busy internet-literate consumers who want a good deal on their essential services but do not have time to shop around for the best price and like the convenience... Click here for Full Story     E-Commerce on Upswing In India     A joint study released Tuesday by the Confederation of Indian Industry and International Trade Center and WTO, reports that e-commerce activity in the country will likely reach rs 250 billion (US$ 5.3 billion) by 2005. The study also pointed out that Indian internet security applications market... Click here for Full Story      Latest News Now!       [IMAGE]     EDITORIAL [IMAGE] Today and Tomorrow-what Asia faces and what we've all learned from the past    ARTICLES [IMAGE] Mirroring the Marketplace [IMAGE] E-procurement- is it so much more than buying and selling goods and services online? [IMAGE] Fuel Cell and Microturbine Roundup [IMAGE] Energy Opportunities in the Asia Pacific Region    NEWS ROUND UP [IMAGE] Trade-Ranger Teams With Wellogix for Online Collaboration and Procurement  [IMAGE] PG?Offers Incentives to Lower Energy Use  [IMAGE] Step Right Up and Place Your Bets on Alternative Energy  [IMAGE] Pantellos Marketplace Offers Global Transaction Services  [IMAGE] Endur Enhances Duke's Commodity Trading Platform  [IMAGE] MyUtility to Offer "Single Portal" for Energy and Communications Products  [IMAGE] E-Commerce on Upswing In India     EVENTS [IMAGE]  Eyeforenergy, Latin America   [IMAGE]  Energy Exchanges Online II   [IMAGE]  Eyeforenergy, Asia      SUBSCRIBE   Please enter your email address below to subscribe to the EyeForEnergy newsletter. Thank you        UNSUBSCRIBE  To unsubscribe from the EyeForEnergy newsletter please enter your email below. Thank you       If you have any comments about this newsletter or you would like to suggest future topics or industry related news, please email  moconnell@eyeforenergy.com     [IMAGE]


David,

I am sending you the latest Pulp & Paper disclaimer per Sara Shackleton's
request.

 Kaye


REMINDER

Please join us for an online trading status meeting.
 Date:  Tuesday, October 24
 Time:  9 - 10am C.S.T. (Houston Time)
 Location: EB42C1

At our meeting we will meet Lisa Lees (Frank's replacement on EOL), learn
from Tana Jones about the Legal review portion of the PA process, talk about
new IT work for Global online processes, and go over user notes for Profile
Manager.

If a representative from your group will not be able to attend, please let me
know.  Also, if additional individuals would like to participate please
forward this notice and let me know their names.

London and Canada:
Let  me and Anthony Campos know which telephone number to call so you can
join us via teleconference.
Otherwise, please call in and join us for an update and discussion of online
trading contract issues.
Polycom number:  713-655-2018
Telephone number:  713-345-7794

---------------------- Forwarded by Karen Lambert/HOU/ECT on 10/23/2000 10:31
AM ---------------------------
From: Karen Lambert on 10/16/2000 11:19 AM
To: Kim S Theriot/HOU/ECT@ECT, Matthew Allan/LON/ECT@ECT, Amelia
Alland/HOU/ECT@ECT, Anthony Campos/HOU/ECT@ECT, Enron Europe Global Contracts
and Facilities, Dianne Seib/CAL/ECT@ECT, Cyndie
Balfour-Flanagan/Corp/Enron@ENRON, Martha Stevens/HOU/ECT@ECT, Sarah
Smith/Corp/Enron@Enron, Jana Morse/Corp/Enron@Enron, Denae Umbower/Enron
Communications@Enron Communications, Molly Lafuze/Enron Communications@ENRON
COMMUNICATIONS@ENRON, Molly.Lafuze@enron.net, Alexia Gonzales/HOU/ECT@ECT,
Stephen Furter/LON/ECT@ECT, Andrew Wells/LON/ECT@ECT, Michelle
Schultz/NA/Enron@ENRON, cbalfou@enron.com, Denae Umbower/Enron
Communications@Enron Communications, Laurie Lee/NA/Enron@Enron
cc: Rhonda L Denton/HOU/ECT@ECT, Melissa Ann Murphy/HOU/ECT@ECT, Stacey
Richardson/HOU/ECT@ECT, Chris Wiebe/CAL/ECT@ECT, Peggy Hedstrom/CAL/ECT@ECT,
Juana Fayett/Corp/Enron@Enron, Cheryl Dudley/HOU/ECT@ECT, Gina
LaVallee/CAL/ECT@ECT, Bridgette Anderson/Corp/Enron@ENRON, James
Scully/HOU/ECT@ECT, Lynn E Shivers/HOU/ECT@ECT, Susan Elledge/NA/Enron@Enron,
Linda K Loukanis/HOU/ECT@ECT, banders@enron.com, Danny Clark/Enron
Communications@Enron Communications, Amy Heffernan/Enron Communications@Enron
Communications, Gail Hill/LON/ECT@ECT, Charlie Hoang/HOU/ECT@ECT
Subject: Online Trading Status Meeting

Please join us for an online trading status meeting.
 Date:  Tuesday, October 24
 Time:  9 - 10am C.S.T. (Houston Time)
 Location: EB42C1
If a representative from your group will not be able to attend, please let me
know.

London and Canada:
Let me know which telephone number to call so you can join us via
teleconference.
Otherwise, please call in and join us for an update and discussion of online
trading contract issues.
Polycom number:  713-655-2018
Telephone number:  713-345-7794


YOU GO, GIRL!!!


Valery,

I am interested in receiving the preprint.
On another note, I would be glad to meet you for lunch/dinner
sometimes during the next few weeks.

Please, let me know what would be the best time to meet.

Vince

Vincent Kaminski
Managing Director - Research
Enron Corp.
1400 Smith Street
Room EB1962
Houston, TX 77002-7361

Phone: (713) 853 3848
Fax  :  (713) 646 2503
E-mail: vkamins@enron.com

"Valery Kholodnyi" <vkholod1@txu.com> on 12/20/2000 03:13:09 PM
To: vkamins@enron.com
cc:
Subject: My model for spikes

Dear Dr. Kaminski,

I was recently allowed to release into the public domain on the limited basis
the first of the preprints that I recently authored on my model for spikes in
power prices and for the valuation of the contingent claims on power. In this
regard, I have just given a talk on this model at the joint seminar of the
Center for Energy Finance Education and Research and the Institute for
Computational Finance at the UT Austin. Right now I am also in the process of
forming a list of specialists both in the industry and academia who might be
interested in receiving this preprint. Please let me know if you might be
interested in receiving this preprint.

I look forward to hearing from you.

Sincerely yours,

Valery Kholodnyi
Manager of Quantitative Analysis
Research and Analytics Group
TXU Energy Trading

PS. Here are the main preprints that I have recently authored on my model for
spikes in power prices and valuation of contingent claims on power:

1. Valery A. Kholodnyi, The Stochastic Process for Power Prices with Spikes
and
Valuation of European Contingent Claims on Power, Preprint, TXU-RAG-01/00,
July
2000.
2. Valery A. Khlolodnyi, Valuation of a Swing Option on Power with Spikes,
Preprint TXU-RAG-05/00, August, 2000.
3. Valery A. Kholodnyi, Valuation of a Spark Spread Option on Power with
Spikes,
Preprint TXU-RAG-21/00, November 2000.
4. Valery A. Kholodnyi, Valuation of European Contingent Claims on Power at
Two
Distinct Points on the Grid with Spikes in Both Power Prices, Preprint
TXU-RAG-24/00, November 2000.
5. Valery A. Kholodnyi, Valuation of a Transmission Option on Power with
Spikes,
Preprint TXU-RAG-25/00, November 2000.

As I have indicated to you in my previous e-mail, contrary to the standard
approaches, I model spikes directly, as self-reversing jumps on top of a
stochastic process for the regular dynamics of power prices in the absence of
spikes. In this way the dynamics of power prices is modeled as a non-Markovian
process, even if the process for the regular dynamics of power prices is
Markovian. Among other things my model for spikes allows for the explicit
valuation and hedging of contingent claims on power with spikes, provided that
the corresponding contingent claims on power can be valued and hedged in the
absence of spikes.


Congrats!    Mark


I will be out of the office on Wednesday, January 3.  I am married to an OU
graduate, so we are headed to the Orange Bowl to hopefully see Oklahoma hang
onto their number 1 ranking.  I will be back in the office after lunch on
Thursday, January 4.

My assistant, Patti Thompson (x39106), has phone numbers where I can be
reached.  Please contact Bob Hall at x36956 with any questions while I am
out.


where did you go, youre in trouble

-----Original Message-----
From: Nelson, Michelle
Sent: Monday, November 26, 2001 12:21 PM
To: Maggi, Mike
Subject:

Help!
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)


Letter looks great -- I am in the process of getting Watson's OK to sign on.
Due to all the emergencies this week, Watson is focusing its comments on the
Bilas PD on the PG&E city-gate price issue (I certainly feel duty-bound to
defend my numbers and analysis!).  Here is a draft, if anyone has time to
review it.

Tom

----- Original Message -----
From: MBD <MDay@GMSSR.com>
To: 'Pocta, Robert M.' <rmp@cpuc.ca.gov>; 'Counihan, Rick'
<rick.counihan@greenmountain.com>; <Jeff.Dasovich@enron.com>; 'John
Burkholder' <burkee@cts.com>; 'Mike Alexander' <alexanms@sce.com>; 'Craig
Chancellor' <craigc@calpine.com>; 'Colin Cushnie' <cushnice@sce.com>; 'Jeff
Dasovich' <jdasovic@enron.com>; MBD <MDay@GMSSR.com>; 'Paul Amirault'
<PaulAmirault@aec.ca>; 'Doug Porter' <porterdk@sce.com>; 'Tom Beach'
<tomb@crossborderenergy.com>; 'Amirault, Paul' <PaulAmirault@aec.ca>; 'Craig
Chancellor, Calpine' <craigc@calpine.com>; 'How-Downing, Lindsey'
<Lindseyhowdowning@dwt.com>; 'Phil Davies, WGSI Calgary'
<PhilDavies@aec.ca>; <jleslie@LUCE.com>; 'Jeff Fawcett, Transwestern'
<jfawcett@enron.com>; 'Michael Rochman' <rochmanm@spurr.org>; 'Rick
Counihan, Greenmountain.com' <counihan@greenmountain.com>; 'Bayless,
David@Utility' <david.bayless@utility.com>; 'Dingwall, Brian@UEM' &
Sent: Friday, December 08, 2000 2:37 PM
Subject: Revised Draft of letter

> Here is the revised draft of the letter to the Commission regarding the
PD.
> Please comment ASAP.  We would like specific authorizations from each
party
> to include their name on the letter, which will be delivered by Mike Day
to
> each Commissioner and distributed to the press.  If you have edits to
> propose.  Please proposed them in a "reply all" note so that everyone on
> this list can react to the changes.  Please respond as soon as possible,
> hopefully by the close of business today.  If you believe you can get
> approval to sign the letter by Monday morning, please advise us of that
fact
> as well and we will wait for you.  Thank you all for your prompt
> consideration of this matter.  Mike Day
>
>
>  <<X19029.DOC>>
>

 - Comments on the Bilas PD in the Gas OIR.wpd


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

From:
Date: 67271 RFIT7271 RFITT????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????
Subject:

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

From:
Date: 67271 RFIT7271 RFITT????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????
Subject:


Vivian, what Cost Centers are included in the Consolidated report attached?
Also, we would like to see separate O&M reports for all Cost Centers in EWS
Legal.  The Cost Centers are 105653, 105654, 105656, 105657, 105658, 105659,
105660, 107061, and 107062.  What about our year-end O&M reports for these
same Cost Centers?  Thanks, Deb

Deb Korkmas
EWS Legal Dept.
1400 Smith Street, Room 3819
Houston, TX  77002
Phone:  713-853-5448
Fax:  713-646-3393

	Vivian Nguyen/ENRON@enronXgate
	03/23/2001 10:37 AM

		 To: Mark E Haedicke/HOU/ECT@ECT
		 cc: Deb Korkmas/HOU/ECT@ECT
		 Subject: O&M Report 02-28-01

Mark,

Please let me know if you have any questions.

Thank you,
Vivian
5-3995


I will probably be staying at the Savoy. I will be there from July 18 to the
28th.


Greg, how big was that last check you told me to watch for. I will transfer
the remaining to the LIR. QQQ improved for your short today to close at 68
47/64. Nothing good out of CA utilities and power. Nat Gas lower today. I
will watch tonight the new President and the vanquished. Also, will today's
announcement about ENE effect you? Ben


We are contemplating selling the Blue Dog turbines to NorthWestern.  I've
been out of town with a sick dad, so I'm not clear who has been in the loop
and who hasn't.  However, since these are TurboPark turbines, I wanted to
make sure you are aware of the deal.  It is the commercial teams desire to
enter into an exclusivity arrangement as soon as possible.

Sorry for the short notice - today is the first day I've been able to pick up
my email.

Kay

---------------------- Forwarded by Kay Mann/Corp/Enron on 03/23/2001 10:18
AM ---------------------------

	From:  Chris Booth                           03/21/2001 05:11 PM

To: Kay Mann/Corp/Enron@Enron
cc:

Subject: Revised Exclusivity Letter

Kay,

FYI

Chris
---------------------- Forwarded by Chris Booth/NA/Enron on 03/21/2001 05:11
PM ---------------------------

"Young, Michael" <Michael.Young@northwestern.com> on 03/21/2001 03:34:46 PM
To: "'ben.f.jacoby@enron.com'" <ben.f.jacoby@enron.com>,
"'chris.booth@enron.com'" <chris.booth@enron.com>
cc: "'margueritekahn@paulhastings.com'" <margueritekahn@paulhastings.com>

Subject: Revised Exclusivity Letter

Ben and Chris, after discussion with certain members of NorthWestern's
senior management, NorthWestern is offering Enron a $1.0 million
non-refundable payment in exchange for exclusivity until April 6, 2001.  In
effect, this brings the total purchase price for the two GE turbines to
$49.0 million.  The offer is subject to the terms of the attached
Exclusivity Letter.  Please call me as soon as you have reviewed to discuss
the timing considerations.

 <<Enron Excl. - Revised.doc>>

 - Enron Excl. - Revised.doc


Dear Vince,

Thanks so much for your prompt return call.  As discussed, pls find attached
a # of related self-explanatory documents (in naturally the strictest
privacy and confidence).

>  <<SFaiz_detailed_resume.doc>>  <<SFaiz_Job_Description.doc>>
> <<SFaiz_Cover_NomTXFellow.doc>>  <<SF_External_Invitations.xls>>
> <<spe62964.pdf>>  <<Real_Rewards.pdf>>  <<Get_Real.pdf>>
> The TX Fellowship--the highest individual recognition reward within The
> company--will be determined in Jan. 2001.  The PDF files refer to a paper
> presentation and 2 press interviews, respectively.  The SPE paper will be
> published in the Jan. 2001 edition of Journal of Petroleum Technology
> (JPT).
>
> I'll appreciate your review and additional discussion re best fit.  As
> discussed, it's best to correspond via my personal e-mail address:
> newsoussan@iwon.com or else pls leave me a message a my secure personal
> phone # @ work.  Pls be also advised that I'll be checking my phone- and
> e-mail infrequently (every other day) while I'm in England.  I look
> forward to seeing you soon in either NY or Houston.
>
Wishing you a very happy holiday season and a healthy and prosperous 2001.

> Soussan,
> 914 253 4187 (w)
>
>
>

 - SFaiz_detailed_resume.doc
 - SFaiz_Job_Description.doc
 - SFaiz_Cover_NomTXFellow.doc
 - SF_External_Invitations.xls
 - spe62964.pdf
 - Real_Rewards.pdf
 - Get_Real.pdf


please set this up
---------------------- Forwarded by Jeffrey A Shankman/HOU/ECT on 12/06/2000
09:13 AM ---------------------------

Meg Wozny <mwozny@hbs.edu> on 12/06/2000 08:48:48 AM
To: Jeffrey.A.Shankman@enron.com
cc:
Subject: Re: HBS Case Study

Jeff:
A phone call would be great.  Anytime except tomorrow, December 7, works
for me.
Thanks!
Meg

At 03:26 PM 12/5/00 -0600, you wrote:

>I'd like to have my asst set up a phone call with you.  You really won't
>get the whole story in a short email.  Thanks...
>
>Jeff
>
>
>
>
>Meg Wozny <mwozny@hbs.edu> on 12/05/2000 02:25:32 PM
>
>To:   jshankm@enron.com
>cc:
>Subject:  HBS Case Study
>
>
>Jeff:
>I'm working on the Enron case study for Harvard B-school and Cindy
>Derecskey mentioned that you could help me.
>
>When we met with Rick Buy, he mentioned that in 1994, when he joined Enron,
>there were about 10 people in the credit group.  I'd like to get a sense of
>how fast that group grew, and, as I understand, metamorphosed into a
>sophisticated risk management group.  How many people are in the risk
>management group now?
>
>If you prefer to answer this vie phone, please feel free to call me at
>617-496-0802.  I look forward to hearing from you.
>
>Thank you!
>Meg
>**************
>Meg Wozny
>Research Associate
>Harvard Business School
>Gallatin Lounge C
>Soldiers Field
>Boston, MA 02163
>
>voicemail: (617) 496-0802
>facsimile:  (617) 496-6943
>email: mwozny@hbs.edu

**************
Meg Wozny
Research Associate
Harvard Business School
Gallatin Lounge C
Soldiers Field
Boston, MA 02163

voicemail: (617) 496-0802
facsimile:  (617) 496-6943
email: mwozny@hbs.edu


I don't have any of the contract information.  I will have to get the info,
get Marlene to set these up in global contracts and then set them up in
unify.  It probably won't happen today.  I'll keep you posted.

---------------------- Forwarded by Chris Germany/HOU/ECT on 11/21/2000 02:02
PM ---------------------------

	Enron North America Corp.

	From:  Victor Lamadrid                           11/21/2000 01:27 PM

To: Angel Fuller/NA/Enron@ENRON, Chris Germany/HOU/ECT@ECT, Scott
Goodell/Corp/Enron@ENRON, Steve Gillespie/Corp/Enron@ENRON
cc: Joann Collins/Corp/Enron@ENRON, Alvin Thompson/Corp/Enron@Enron,
Katherine L Kelly/HOU/ECT@ECT, Brenda H Fletcher/HOU/ECT@ECT, Sherry
Anastas/HOU/ECT@ECT
Subject: Re: Virginia Natural Gas...Columbia Gas

Angel,

Steve Gillespie is managing the day to day operations of the VNG asset mgt.
deal for our logistics group.  Please include him with your queries.  It is
my understanding that we are agents for all of their contracts and we pay all
their transport costs.  In turn, we invoice them and they re-imburse us for
that transport.

Chris Germany and Scott Goodell in the Transportation Trading Group  are
responsible for setting these contracts in UNIFY.  All of these contracts in
question are storage or transportation tied to storage. Chris/Scott please
set up the 5 valid contracts below in UNIFY as soon as possible....Contract
37634 is terminated effective 8/31/1999.

If you have any questions please let us know.
Victor

Angel Fuller@ENRON
11/21/2000 09:47 AM
To: Joann Collins/Corp/Enron@ENRON, Alvin Thompson/Corp/Enron@Enron
cc: Victor Lamadrid/HOU/ECT@ECT, Katherine L Kelly/HOU/ECT@ECT, Brenda H
Fletcher/HOU/ECT@ECT, Sherry Anastas/HOU/ECT@ECT
Subject: Virginia Natural Gas...Columbia Gas

Hi Joann and Alvin,

As you know, effective October 1, ENA became agent for Virginia Natural Gas.
Here in Volume Management, as I try to load beginning balances and actualize
volumes (so that I can pay VNG's transportation charges) for 10/2000, it
appears that the following contracts for VNG/Cgas are not in Unify.

Contract Number  Type
38079    FSS...Master Contract
35889    x-133 LNG Storage
60536    SST
37634    ISS
53004    FSS
60537    FSS

I would appreciate any help you can give me in getting these contracts in
Unify as soon as possible.  If you have any questions or need additional
information, please let me know.

Thanks,
Angel


The GISB industry-wide meeting has been re-scheduled for Monday, February 14,
1:00 - 6:00 p.m. at the DOE.  The agenda and notice are attached.

Thanks,
Theresa


Dutch,

attached is the file I have prepared for our customers.  Thought you might want to review it before it is sent to the Egyptians.

Regards,

Eric


We have received the executed EEI Master Power Purchase and Sale Agreement
dated 5/11/2001 from the referenced CP.  Copies will be distributed to Legal
and Credit.


This is appropriate--do not make the Enpower till the next day if it will be under St-Whourly....

 -----Original Message-----
From: 	Slinger, Ryan
Sent:	Tuesday, November 06, 2001 1:05 PM
To:	DL-Portland Real Time Shift
Subject:	SHORT FOR 11/07/01

We sold 8mw around the clock to Gas Recovery systems at 34 dollars.   The deal is built in Caps but not in enpower.

Thanks,

Ryan


We are expecting  Willamette Industries back tomorrow.  Please be in touch
with them and Les, and maximize the profit for these guys (last month we made
$78,000).
Thanks,
Bill

Lester Rawson
04/20/2001 02:36 PM
To: Bill Williams III/PDX/ECT@ECT
cc:

Subject: Willamette

Real Time Traders,

Willamette Ind. expects to be back tomorrow 4/21. Doug Reiner will call in
the morning. Willamette expects to have 10 - 15 Mw available each hour.

Call me if there are any questions.

Les