California Blame Game Yields No Score --- Probes Reveal Little Evidence
Suppliers Acted Illegally
The Wall Street Journal, 05/22/01

Enron Unit Moves to End India Contract For Power
The New York Times, 05/22/01

The State GOP Criticizes Davis' Choice of PR Aides Capitol: Legislative
leaders call the pair political operatives who are too partisan to represent
the state during energy crisis.
Los Angeles Times, 05/22/01

BUSINESS DIGEST
The New York Times, 05/22/01

World Watch
The Wall Street Journal, 05/22/01

IN BRIEF / ENERGY Enron Withdraws from Qatar Project
Los Angeles Times, 05/22/01

INDIA: UPDATE 1-Indian state spurred by Enron reopens power deals.
Reuters English News Service, 05/22/01

INDIA: India utility may slap 4bln rupee fine on Enron unit.
Reuters English News Service, 05/22/01

IXEurope creates a Storm in colocation
M2 Presswire, 05/22/01

Power corrupts...
The Economic Times, 05/22/01

The Godbole findings
Business Standard, 05/22/01

SMARTMONEY.COM: Power Grab
Dow Jones News Service, 05/22/01

Malaysian LNG Sales to India Threatened by Enron Power Dispute
Bloomberg, 05/22/01

LEADER: India unplugged
Financial Times; May 22, 2001

Enron pulls out of venture drilling in Qatar's waters
Houston Chronicle, 05/22/01

Enron exploring commodity trading
Houston Chronicle, 05/22/01

Plains Resources Gets New Officers
Houston Chronicle, 05/22/01

Economy
California Blame Game Yields No Score --- Probes Reveal Little Evidence
Suppliers Acted Illegally
By John R. Emshwiller
Staff Reporter of The Wall Street Journal

05/22/2001
The Wall Street Journal
A2
(Copyright (c) 2001, Dow Jones & Company, Inc.)

LOS ANGELES -- California may be struggling to keep its lights on, but one
thing there is no shortage of is accusations over who is to blame for an
electricity crisis that has sent power prices skyrocketing.
In recent days, top California officials have stepped up their rhetoric
against a handful of merchant power companies, many of them Texas-based, that
supply the state with much of its juice. Gov. Gray Davis says companies such
as Reliant Energy Inc., of Houston, have engaged in "unconscionable price
gouging." Loretta Lynch, president of the California Public Utilities
Commission and a Davis appointee, proclaims that a "cartel" of electricity
producers has created artificial shortages. Lt. Gov. Cruz Bustamante is
backing a bill that would make energy price fixing a felony, and as a private
citizen he is suing several major power producers in Los Angeles state court.
About half a dozen investigations are being conducted by entities ranging
from state legislative committees to the California attorney general's
office. So far, these probes -- some of which have been under way for months
-- haven't yet yielded either civil or criminal charges.
While the energy suppliers are generating "unconscionable profits," the
question remains "whether they are illegal profits," says California Attorney
General Bill Lockyer, who has offered rewards of as much as hundreds of
millions of dollars for information about lawbreaking in the energy business.
Mr. Lockyer says he believes his office will eventually file civil charges
against suppliers. He would very much like to add criminal counts. "I would
love to personally escort [Enron Corp. Chairman Kenneth] Lay to an 8 x 10
cell that he could share with a tattooed dude who says `Hi my name is Spike,
honey,'" adds Mr. Lockyer. Houston-based Enron is a major energy-trading
company. Like other such firms, Enron has denied wrongdoing in the California
market.
Mark Palmer, Enron's vice president for corporate communications, said Mr.
Lockyer's comment about Mr. Lay "is so counterproductive that it doesn't
merit a response."
Investigators and academics say there is abundant evidence that individual
firms have been exercising "market power." This term is used to denote
efforts to influence wholesale-electricity prices, such as by withholding
supplies. The California Independent System Operator, or ISO, which manages
the state's electric transmission grid, estimates that by exercising market
power, suppliers may have added about $6.8 billion to the cost of electricity
in the state since early last year.
A single firm exercising such power isn't necessarily illegal, says Severin
Borenstein, director of the University of California Energy Institute. If a
company is a large supplier in the state and "you're not exercising market
power, you are not doing your job" on behalf of shareholders, he says.
Mr. Borenstein and others say that there are steps that should be taken
against suppliers. They note that under federal power law, the Federal Energy
Regulatory Commission can order refunds for wholesale prices that are above
"just and reasonable" levels. So far, FERC has tentatively ordered California
suppliers to make tens of millions of dollars of such refunds, as part of
that agency's ongoing inquiry into the California market. Critics of the
suppliers and FERC say the refunds should be in the billions of dollars.
The power industry, not surprisingly, says there is nothing to accusations of
price manipulation or collusion. Executives point to a botched
state-utility-deregulation plan that relies heavily on volatile spot-market
purchases. Suppliers note that over the past decade, California didn't build
enough new power plants to keep up with demand growth. The allegations of
manipulation are "a lot of sound and fury and they won't produce anything,"
says Gary Ackerman, executive director of the Western Power Trading Forum, an
industry trade group.
Power generators also point to sharp increases in some of their costs,
particularly natural gas, which is a major power-plant fuel. This rise in
natural-gas prices also has set off a flurry of investigations over possible
manipulation. One such case, involving El Paso Corp., Houston, is the subject
of probes by federal and state officials. El Paso denies any wrongdoing.
While power-industry officials say they have been cooperating with the
investigations, law-enforcement officials say they have hit some roadblocks.
For instance, Mr. Lockyer's office has gone to San Francisco state court to
enforce subpoenas against Reliant, Houston-based Dynegy Inc., and Southern
Co. and Mirant Corp., both of Atlanta, after the companies resisted turning
over certain business documents they deemed confidential.
Investigators have zeroed in on the increased frequency with which plants are
going out of service for unscheduled outages. At times, several thousand
fewer megawatts of capacity are available than a year ago. A thousand
megawatts can power about one million homes.
Generators say that this increased "forced outage" rate shows that tight
supplies over the past year have required them to run plants, some of them
more than 40 years old, for long periods without routine maintenance. This
combination has produced more breakdowns. "Plants have been running flat
out," says Tom Williams, a spokesman for Duke Energy Co., Charlotte, N.C.,
which says that its California power plants produced 50% more electricity in
2000 than in 1999.
At the same time, during periods of lower demand, the number of unplanned
outages often seems to rise enough to keep supplies tight, says Frank Wolak,
a Stanford University professor and chairman of the ISO's market surveillance
committee. "Clearly, something is going on here." However, he and others say
that it is almost impossible to tell why a particular pipe failed or whether
such a failure was a legitimate reason to reduce output.
Some of the most intriguing evidence to date about forced outages surfaced in
a federal case. FERC officials said an investigation had raised questions
about whether two major power companies had taken plants out of service in
order to reap higher electricity prices. The charges against AES Corp.,
Arlington, Va., which owns the plants, and Williams Cos., Tulsa, Okla., which
markets their output, asserted that those actions allowed the companies to
reap an extra $10.8 million in revenue.
In one instance, according to case filings, a Williams employee "indicated"
to AES officials that his firm wouldn't financially penalize AES for
extending an outage at one plant. This conversation, which was voluntarily
divulged by Williams, could be an indication of collusion. Williams and AES
settled the case without admitting any wrongdoing by paying back $8 million
to the ISO and by taking certain other measures. A Williams spokeswoman says
the employee who talked to AES was "counseled not to enter into any
conversations of that nature" in the future.
Another issue raised by the FERC case touched on maintenance procedures.
According to the filings, AES stopped doing a certain procedure to keep its
plant's cooling system from getting clogged. The clogging of the system was
cited as a reason for one of the forced outages. Mark Woodruff, president of
the AES unit that operates the plant in question, says the company
substituted what it felt was an equally effective maintenance procedure.
If someone was looking to keep supplies tight and prices high, changes in
maintenance procedures would be an easy way to ensure that plants,
particularly old ones, have frequent forced outages, says a senior
utility-industry executive. By restricting maintenance resources, he says, an
operator can simply allow a plant "to take itself out of service."
---
Journal Link: What is California doing to alleviate the energy crisis? See a
video report of California State Treasurer Philip Angelides discussing the
state's plans, in the online Journal at WSJ.com/JournalLinks.
--- Investigations Aplenty

In the year since California's energy deregulation plan began
resulting in higher prices and even blackouts, a flurry of
investigations has gotten under way. Here are the main ones:

AGENCY: Federal Energy Regulatory Commission
INVESTIGATION: Whether generators are charging more than "just and
reasonable" rates as demanded by the Federal Power Act; whether El
Paso Corp. used its position as a major natural-gas supplier to the
state to illegally drive up the price of fuel used to generate
electricity.

AGENCY: California Public Utilities Commission and the State Attorney
General
INVESTIGATION: Whether generators and power traders have acted
illegally through collusion or other means to artificially inflate
electricity prices.

AGENCY: PUC and California Independent System Operator
INVESTIGATION: Whether generation plants were shut down for spurious
reasons in order to create supply shortages and, thus, to raise
electricity prices.

AGENCY: California Electricity Oversight Board
INVESTIGATION: Whether patterns of bidding and pricing in
California's electricity auction indicate collusive or otherwise
illegal behavior.

Sources: state and federal agencies

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

Business/Financial Desk; Section W
Enron Unit Moves to End India Contract For Power
By SARITHA RAI

05/22/2001
The New York Times
Page 1, Column 6
c. 2001 New York Times Company

BANGALORE, India, May 21 -- Fed up with its main customer's refusal to pay
its bills, the Enron Corporation's Indian power-generating venture served
formal notice on Saturday that it would terminate its power supply contract
and pull out.
The move by the Dabhol Power Company, 65 percent owned by Enron, starts the
clock ticking on a six-month notice period before the contract is voided,
during which negotiations to settle the dispute are expected. The $2.9
billion Dabhol project represents the largest single foreign investment in
India.
Separately, Enron said today that it was withdrawing from a pipeline project
in Qatar, which would have supplied some gas to Dabhol. The company said that
the two steps were unrelated.
The Dabhol project has been the subject of a series of wrangles between the
company and the governments of India and of the western Indian state of
Maharashtra. The state-owned utility company that contracted to buy power
from the Dabhol plant has defaulted on some $64 million in unpaid power
bills, and has accused Dabhol of charging too much.
Dabhol said it was left with little choice but to issue the termination
notice after both governments failed to honor their contractual commitments
to buy and pay for its output.
But in a statement issued over the weekend, Dabhol said it was ''still open
to constructive discussion on the solutions.'' The company said a ''lasting
and feasible solution'' to the dispute would require that the two governments
either honor their obligations to buy Dabhol's power or find other
creditworthy buyers to take the power instead.
The first phase of the project now generates 740 megawatts of power, and the
second phase, adding another 1,444 megawatts of capacity, is scheduled to go
on line next month.
Under the contract, the termination that Enron has set in motion would oblige
the federal and state governments to pay damages to Enron and the lenders
that financed the project, possibly as much as $500 million -- the value of a
year's output of power plus the project's $300 million in debt -- if it is
shut down.

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

California; Metro Desk
The State GOP Criticizes Davis' Choice of PR Aides Capitol: Legislative
leaders call the pair political operatives who are too partisan to represent
the state during energy crisis.
DAN MORAIN
TIMES STAFF WRITER

05/22/2001
Los Angeles Times
Home Edition
B-8
Copyright 2001 / The Times Mirror Company

SACRAMENTO -- Republican legislative leaders Monday blasted Gov. Gray Davis'
decision to spend $30,000 a month in taxpayer money to retain communications
consultants known for their highly partisan work.
Labeling consultants Mark Fabiani and Chris Lehane as "cut-throat," Senate
GOP leader Jim Brulte of Rancho Cucamonga and Assembly Republican leader Dave
Cox of Fair Oaks said in a letter to Davis that the hiring "undermines the
assertions you have made both publicly and privately throughout this crisis."
Davis announced Friday that he retained the duo and that the state will pay
them a combined $30,000 a month for at least the next six months.
"We're not going to support the hiring of political hacks on government
payroll," Brulte said in an interview. "Lehane and Fabiani are very talented.
The issue is which payroll is appropriate. . . . These are political
opposition research attack dogs. If the governor wants them, he ought to pay
for them with his $30-million political war chest."
Some consumer advocates also criticized the move, citing the consultants'
work on behalf of Southern California Edison. In their private consulting
business, Fabiani and Lehane are working to win over public and political
support for Davis' $3.5-billion plan to rescue Edison from its financial
difficulties. Legislation embodying aspects of the deal is pending in
Sacramento.
On Monday, Brulte and Cox also complained about the consultants' dual role.
"California taxpayers should not be asked to finance political consultants or
individuals who have a vested business interest with the state," the letter
said.
Fabiani and Lehane had worked in the Clinton administration, and in Vice
President Al Gore's presidential campaign, where they gained a reputation as
attack-oriented operatives. Lehane on Monday defended the governor's decision
to use tax money to pay their fees, saying government often hires outside
experts and that he and Fabiani will "serve as communications advisors to
help the governor fight against these generators."
"The Republicans," Lehane added, "ought to be spending time writing letters
to George W. Bush to get him to stop the Texas generators from gouging
California. . . . That is the real issue here."
Davis, meanwhile, returned to California on Monday after a weekend of
fund-raisers. He was in Texas on Saturday for a Dallas event that had been
scheduled for April 11. It was postponed when Pacific Gas & Electric filed
for bankruptcy protection.
"There is a very large fund-raising base for Democrats in Texas," Davis'
campaign strategist, Garry South, said of the state that is home to some of
the generators that Davis has criticized.
Davis traveled to Chicago for another fund-raiser Sunday, then met Monday
with city officials to discuss how Chicago deals with electrical blackouts.
After blackouts crippled downtown Chicago in the summer of 1999, Mayor
Richard M. Daley demanded that the city's electricity provider, Commonwealth
Edison, give advance notice of power cuts. Customers now sometimes receive
warnings two or three days in advance.
Davis emerged from the meeting saying "the utilities have got to tell us in
advance when they're going to have a planned blackout."
It was not, however, readily apparent how Chicago's solutions would translate
to California, because its electrical problems are vastly different. Rather
than suffering a shortage of electricity throughout the grid like California,
Chicago has the more microcosmic ills of an aging system--an obsolete
transformer going down, for example, leaving several city blocks in the dark
until workers can fix it.
*
Times staff writer Eric Slater contributed to this story.

PHOTO: Protester Barbara King shakes a light bulb outside Sacramento office
of a lobbyist for energy producer Enron near the Capitol.; ; PHOTOGRAPHER:
ROBERT DURELL / Los Angeles Times

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

Business/Financial Desk; Section C
BUSINESS DIGEST

05/22/2001
The New York Times
Page 1, Column 1
c. 2001 New York Times Company

Enron Moves to End India Contract
Fed up with its main customer's refusal to pay its bills, Enron's Indian
power-generating venture said that it would terminate its power supply
contract. [World Business, Section W.]

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

International
World Watch
Compiled by David I. Oyama

05/22/2001
The Wall Street Journal
A18
(Copyright (c) 2001, Dow Jones & Company, Inc.)

EUROPE/MIDEAST
Insurer Storebrand
Favors Sampo's Bid
Over Den Norske
Norway's largest insurer, Storebrand, became the center of a bidding war
between Finnish financial-services company Sampo and Norway's Den Norske
Bank, with Storebrand favoring Sampo. Sampo's offer values Storebrand at 20.8
billion Norwegian kroner ($2.3 billion), compared with DnB's 17.6 billion
kroner bid, as the Nordic region's top financial companies battle for
position in a consolidating sector. Sampo and Storebrand, in a joint Helsinki
news conference, said they were confident their deal would succeed.
Sampo's cash-and-stock offer, valued at 75 kroner a share, represents a 31%
premium to Storebrand's average share price during the past month and was
backed by Storebrand's management. DnB wouldn't say whether it would alter
its bid. "One cannot count on that," its chairman said.
HypoVereinsbank Results Disappoint
Bayerische Hypo- und Vereinsbank, Germany's second-largest bank, known as
HypoVereinsbank, said first-quarter pretax profit rose 25% from a year
earlier to 770 million euros ($678 million), below analysts' consensus
forecast of 795 million euros. Profit rose 63% to 468 million euros; earnings
and pretax profit were both helped by one-time gains of 454 million euros.
Operating profit fell 59% in the retail-banking division to 98 million euros,
and was down 43% in the international-markets division to 184 million euros.
HypoVereinsbank said tough market conditions world-wide reduced regular
commission and interest income.
Enron Pulls Out of Emirates Gas Project
U.S. energy company Enron has decided to pull out of the multibillion-dollar
Dolphin natural-gas project, selling its 24.5% stake to the United Arab
Emirates Offsets Group, or UOG, according to Dolphin Energy's managing
director, Ahmed Al-Sayigh. He didn't specify the reason for Enron's
withdrawal or the value of Enron's stake. The Dolphin project agreement,
reached two years ago by UOG and Qatar Petroleum, aims to bring two billion
cubic feet a day of natural gas from Qatar's offshore North Field in the
Persian Gulf to Abu Dhabi and onward to Dubai. Enron and France's
TotalFinaElf each held a 24.5% stake, with UOG owning the remaining 51%. Mr.
Sayigh said UOG will hold discussions with other companies on a possible sale
of Enron's original stake. Richard Bergester, manager for Enron Middle East,
said that having contributed to the project's initial stages, Enron now feels
it can't "add" any more. He didn't elaborate. A TotalFinaElf official said it
is interested in a greater stake in Dolphin.
Marc Rich Gains Control of Swiss Firm
Marc Rich, the former U.S. fugitive given a controversial pardon by President
Clinton, effectively pulled off a management coup at Swiss real-estate
company Feldschloesschen-Huerlimann Holding by thwarting its merger plans
with Swiss Prime Site and forcing the board to quit. Feldschloesschen's
ousted chairman, Robert Jeker, said Marc Rich Group now had control of the
company. Mr. Rich himself is not on the board, but he controls more than 10%
of the votes in Feldschloesschen.

ASIA/PACIFIC
BRIEFLY:
-- Bass Hotels & Resorts, a unit of Britain's Bass, said it will buy the
Regent Hotel Hong Kong for $346 million from Hong Kong's New World
Development.
-- Indian lenders said they want the Indian government to intervene after
U.S. energy company Enron's threat to walk out of its Dabhol Power unit's
huge project in Maharashtra state put their loans in jeopardy. Domestic
lenders have lent $1.4 billion out of the project's total $2.9 billion cost.
-- Australian Prime Minister John Howard caved in to intense pressure over
the collapse of HIH Insurance, announcing a royal commission into the
company's failure and setting aside over 500 million Australian dollars ($265
million) to assist victims of the Australian insurer's collapse.
-- Japan's trade surplus shrank at a faster-than-expected pace in April,
narrowing 42% from a year earlier to 665.9 billion yen ($5.39 billion), as
reduced foreign demand weighed on the country's economy.

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

Business; Financial Desk
IN BRIEF / ENERGY Enron Withdraws from Qatar Project
Bloomberg News

05/22/2001
Los Angeles Times
Home Edition
C-2
Copyright 2001 / The Times Mirror Company

Enron Corp. pulled out of a $2-billion pipeline project to export gas from
Qatar as it became increasingly likely that an Indian power-sales agreement
will collapse. The company said the move is not related to a filing by its
65%-owned Dabhol Power Co. to India's Maharashtra state's electricity board
to stop supplying power because it's owed about $63.9 million by the board.

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

INDIA: UPDATE 1-Indian state spurred by Enron reopens power deals.
By Narayanan Madhavan

05/22/2001
Reuters English News Service
(C) Reuters Limited 2001.

BANGALORE, India, May 22 (Reuters) - India's technology state of Karnataka,
spurred by a payments row involving U.S. power developer Enron Corp in a
neighbouring province, has reopened sealed power purchase deals with 11
private firms.
The southern state's government has told independent power producers (IPPs),
which are yet to start generation, that they need to make their tariffs more
competitive, officials said.
"Now it (electricity) cannot be at any cost," V.P. Baligar, chairman and
managing director of the Karnataka State Power Transmission Corp Ltd (KPTCL),
the state's monopoly power distributor, told Reuters in an interview late on
Monday.
The move comes on the heels of the bitter wrangle in Maharashtra state
involving Dabhol Power Co, 65-percent owned by Houston-based Enron.
Dabhol issued a preliminary notice on Saturday to end a contract to sell
power to the Maharashtra State Electricity Board. The step came after
Maharashtra ceased payments saying Dabhol's tariffs were too high.
The $2.9-billion project, which is 90-percent complete, was first billed as a
showcase of India's decade-old reform programme but now is regarded by
critics as a symbol of policy bungling. "Enron is a lesson for all of us,"
Baligar said.
Karnataka also said it would not provide financial assurances in the form of
escrow cover and government loan guarantees which the firms wanted to help
sweeten lending rates.
"We're trying to tell them your tariff has to be competitive," Baligar said,
but added that the state was open to negotiations. "You have to have the
final capability so you can implement the project without any guarantee or
escrow."
SIGNED DEALS
Five years ago, the state signed power purchase deals with 14 private firms.
Three of them are already generating power at rates higher than the state
would now like to pay. They will continue to get these rates but the 11
unbuilt units face an uncertain future.
The 11 plants involve 2,000 megawatts (MW) of capacity, half of which would
be supplied by the Mangalore Power Co (MPC) from which U.S.-based Cogentrix
exited in 1999, citing litigation and delays in government approval.
China Light & Power now owns the company, in which India's Tata group is
expected to take 30 percent. MPC Managing Director V.P. Sharma told Reuters
that his firm's project would not be hit by the demand for lower tariffs
because it was based on coal unlike the Enron project, based on naphtha.
"Our cost is the lowest cost approved (and) coal prices have fallen (since
the agreement)," Sharma told Reuters from Bombay. Company officials say the
project is also looking forward to a federal guarantee to help it move
forward.
Baligar said the government's intention was to weed out those who are not
serious. "Those who are serious can sit with us and sort out their problems,"
he said.
Power tariffs vary, depending upon foreign exchange rates and the type and
prices of fuels. Three projects which are already generating power get about
3.0 to 4.0 rupees (6.4 to 8.5 U.S. cents) per unit. The 11 uninstalled plants
had comparable rates but MPC says falling coal prices helped its
competitiveness.
One generating firm, Jindal Tractabel, which uses coal and gas, gets about
2.60 rupees. Its purchase agreement was not among the 14 and is awaiting
regulatory approval. The state wants the Jindal rate to be the benchmark for
reopened agreements.
If private firms cut capital costs and work out long-term fuel supplies, they
will be able to cut rates, Baligar said.
The state says it needs 4,000 MW of new capacity over 10 years and 2,500 MW
over five years. State-run utilities are in a position to meet five-year
needs at low rates, Baligar said.
Asked if Karnataka could face litigation over the reopening of the contracts,
Baligar had legally strong arguments. ( $1 = 46.9 rupees).

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

INDIA: India utility may slap 4bln rupee fine on Enron unit.

05/22/2001
Reuters English News Service
(C) Reuters Limited 2001.

BOMBAY, May 22 (Reuters) - An Indian utility is planning to impose a second
penalty of four billion rupees ($85 million) on Enron's local unit, barely a
week after the U.S. energy giant took its first step to pull out of the
embattled project.
A senior official at the Maharashtra State Electricity Board (MSEB) said on
Tuesday the fine on Dabhol Power Company (DPC) was for not meeting capacity
targets within a stipulated period.
"We will do this as soon as the bill for May is received next month," the
official told Reuters.
DPC officials declined to comment on the matter.
Earlier this year, MSEB had imposed a similar penalty on DPC - which DPC has
not paid - saying its plant could not be ramped up to full capacity within
three hours from a cold start.
Enron and MSEB have been battling for six months over payment defaults and
last week DPC, owned 65 percent by Enron, issued a preliminary notice to
terminate a power purchase agreement - widely seen as a move that would lead
to a pull out.
According to DPC, it is owed $48 million by MSEB.
A top government official told Reuters in Delhi on Monday the federal
government is optimistic Houston-based Enron and the Maharashtra state will
resolve their wrangle.
The agreement signed between MSEB and DPC in 1995 stipulates that if Dabhol's
plant cannot achieve 100 percent capacity within three hours from restart,
MSEB is entitled to impose a penalty.
The MSEB official said the plant had failed to fulfil this condition in
February and March, considered peak periods for power demand by the utility.
DPC is building a $2.9 billion, 2,184 MW plant, of which the first phase of
740 MW began operations in May 1999.
Enron is India's largest foreign investor. ($1=47.0 Indian rupees).

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

IXEurope creates a Storm in colocation

05/22/2001
M2 Presswire
Copyright 2001 M2 Communications, Ltd. All Rights Reserved.

IXEurope, a leading pan-European provider of Internet infrastructure and
hosting services, today announces that it has signed a deal with Storm
Telecommunications Limited (Storm), the international optical switched
service provider, with an intelligent optical backbone network built in the
UK, France, Germany, the Netherlands, Denmark, Sweden and Norway. Over the
coming months Storm's network will also be operational in the USA,
Switzerland, Italy and Austria.
Under the agreement Storm will locate its optical switching equipment at
IXEurope's flagship datacentres in London and Frankfurt, with plans to use
other IXDatacentres across Europe for colocation of its equipment to support
its European and North American metro access rollout.
Storm is the tenth carrier to enter the London city IXDatacentre meaning that
IXEurope's customers (including other carriers) will benefit from the
services that Storm offers. This illustrates the advantages that IXEurope's
carrier-neutral status brings -connectivity, cost-effective choice and
flexibility.
Guy Willner, CEO of IXEurope, commenting on the deal, said: "We are pleased
to support Storm's IP network rollout. It will naturally interlink with the
new gigabit ethernet service we are offering across our pan-European network
of IXDataCentres." Mark Stewart, senior vice president, business development
of Storm, said "We chose IXEurope as one of our colocation partners because
of its extensive pan-European presence and the strategic location of its
datacentres. IXEurope has ensured that its datacentres are located where
there is an abundance of network, and provides a choice of carriers, which
allows us great flexibility. IXEurope will also provide us with the ability
to expand over an agreed time scale."
IXEurope, which now has eight operational datacentres across Europe, has
recently signed contracts to provide colocation and managed services to
Hewlett Packard, Enron Broadband Services (EBS) and The Data Company.
IXEurope has just been awarded the ISO9002 quality assured certification for
the second consecutive year , showing its commitment to quality across its
European operations.
IXEurope
IXEurope provides neutral colocation and facilities management services to
corporate, internet and telecoms organisations, allowing them speedier access
to market and the freedom to focus on their core business.
IXDatacentres are present across Europe in all major business centres,
including London, Paris, Frankfurt, Zurich, Nice, Dusseldorf, Milan and
Barcelona. IXEurope is an ISO9002 Quality Certified Company and a founding
member of the Colocation and Hosting Association. IXEurope's funders include
Bank of America, JPMorgan and European Acquisition Capital. For more
information please visit the website at www.ixeurope.com
About Storm Telecommunications
Storm Telecommunications Limited, wholly owned and group operating company of
Storm Investments Limited, is the first OSP (optical-switched service
provider). Storm provides voice, bandwidth and IP services and had revenues
of GBP52m in 2000. Storm's intelligent mesh network is operational in the UK,
France, Germany, Norway, Sweden, Denmark and the Netherlands, shortly
reaching the USA, Italy, Austria and Switzerland. In February 2000, Storm's
management completed an MBO backed by investment affiliates of Soros Private
Equity Partners, and further backing by investment affiliates of Merrill
Lynch & Co came in May 2000.
Storm's intelligent optical network is in prime position to meet the
e-business challenges of 2001 and beyond. For more information, please visit
HTTP:\\WWW.STORMTEL.COM.
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CONTACT: Victoria Dickson, Citigate Technology Tel: +44 (0)207 950 2982
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H.O'Hanlon@stormtel.com

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

Power corrupts...

05/22/2001
The Economic Times
Copyright (C) 2001 The Economic Times; Source: World Reporter (TM)

APROPOS of Enrons notice to the government of Maharashtra, Mumbai should act
pragmatically instead of indulging in heroics and rhetoric. It should set its
own house in order, improve MSEBs functioning and quickly privatise.
If it fails to do these its threat to Enron will also be taken as just
another case of demanding kickbacks.
IT is sad really that Enron had to issue its pre-termination notice. We
should now ask whether MSEB would be able to construct such a project in
record time.
Corruption is rampant in MSEB. They may say Enron power is not needed, but
you cannot even get a new connection easily. Interruptions are commonplace in
rural areas (sometimes up to four times a week).
Power thefts are commonplace too. Each day, on average, we pay MSEB about Rs
6 per unit for commercial connections. But most people would be willing to
pay Rs 7 or so if they got clean, uninterrupted power.
We have seen, for example, the vast cost overruns of many of the official
water management projects. These overruns go up to 20 times, with delays
stretching up to 10 years with no guarantee no results even then.
All told, the government is sending very wrong signals to the international
community by raking up the Enron controversy. It should set its own house in
order.
THE new state ministries are too big in size West Bengals in particular. It
has allotted one minister just to deal with fire brigades. The expenditure in
lakhs it entails could exceed the total number of fire tenders under the
department.
Despite that it needed 7 complete days to control a recent fire (with private
tankers requisitioned to help over and above the ones owned by the
corporation and municipalities).
We need more fire tenders, not ministers or those who are associated with the
big boss. Also we need a new minister, plus a full-fledged department, to
examine corrupt practices in local government and also in the central
government offices located in states.
Meanwhile, was the Sarkaria Commissions recommendation to restrict the size
of the ministry to within 10 per cent of the size of the Assembly advanced
only to be flouted?
We should call a stop to such commissions as not even 10 per cent of their
purpose is served; they too entail huge establishments which are maintained
year after year at taxpayer expense.
SINCE 1993, I have been familiar with the political, social and business
scenarios in the US and so I feel reasonably qualified to make some
observations on US immigration policy by Sudhir Shah.
Shahs statistics are not totally accurate but they depict the `global
picture. The Indian immigrants (a million plus now) are, in many respects, a
class apart.
Their education levels are far higher than those of other immigrants, many of
whom are just a grade above our rag-pickers (they are the cherry and berry
pickers on US farms).
I have not come across a single uneducated Indian in the US since 1983. Even
in asset-formation, Indians (even Pakistanis) are leagues ahead of the other
immigrants.
B T Dasture, Mumbai -

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

The Godbole findings
Our Editorial

05/22/2001
Business Standard
15
Copyright (c) Business Standard

The Godbole committee's first report, submitted on 10 April, is an eye-opener
to what can only be called a massive scandal. It leaves several players MSEB,
successive Maharashtra governments, the Kirit Parikh re-negotiation exercise,
the Central Electricity Authority, and other players in New Delhi with no
clothes on. MSEB claimed that it had negotiated a tariff that was lower than
would result from applying the central government's standard formula. But
this was patently fraudulent, because the comparison was based on wrong
numbers, incorrect technical parameters and unequal assumptions (one
rupee-dollar rate for the Dabhol tariff, another for calculating the
government formula), all of it designed to establish what was not true. Asked
in court why there had been no competitive bidding, the answer (believe it or
not) was that MSEB was not competent to handle competitive bidding. But it
was so wonderfully capable of handling direct tariff negotiations that it
eventually gave Dabhol a higher tariff than Enron had initially sought,
before the negotiations began!
That's only for starters. There is much more in the Godbole report. On the
basis of a passing comment in an FIPB meeting, that the project's costs were
broadly in line with other similar projects, the power secretary in New Delhi
tells the Central Electricity Authority that the CEA's techno-economic
clearance is not required though this is statutorily mandated. The CEA agrees
to this untenable proposition, but later issues a vaguely worded clearance on
the basis of a meeting whose minutes were not made available to the Godbole
committee. The re-gasification project that was made part of the power
project had a capacity to handle 5 million tonnes, though Dabhol itself
needed only 2.1 million tonnes. A port facility had similar excess capacity.
Yet the entire cost of these facilities was loaded on to Dabhol, along with
the full cost of the 20-year gas supply contract. Thus, as the Godbole
committee observes, what should have been a variable cost was converted to
part of the fixed cost, which MSEB would have to service through a capacity
charge, whether any power or gas was bought or not. Even the power
requirements of Maharashtra were mis-calculated in order to over-ride a
warning from the World Bank that the Dabhol power would not be needed. This
was done by assuming that industrial demand for power would grow overnight at
twice the earlier rate, and that MSEB itself would overnight see a dramatic
worsening of its operating parameters. There is still more in the report, but
the point should be obvious. What the report shows is that the Dabhol
contract can be subjected to legal test (as in fact two members of the
Godbole committee recommend), on the grounds that it was improperly handled
and violative of law and common sense. If a favourable judicial decision
becomes possible, that should help mitigate the costs of winding up a truly
scandalous project. For reasons that are not clear, MSEB and the Maharashtra
government have chosen not to go down this route. Perhaps they have greater
and continuing faith in the re-negotiation process.

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

SMARTMONEY.COM: Power Grab
By Elizabeth Harris

05/21/2001
Dow Jones News Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

NEW YORK -(Dow Jones)- Feeling squeezed by rising electricity bills and
shrinking investment returns? Consider investing in utilities, which posted
solid gains amid the recent bear-market carnage.
But plugging into this volatile sector is risky business, as anyone who piled
in this year based on energy's surge in 2000 can testify. After returning
7.28% last year as demand for power outstripped supply, the average utilities
fund is so far down 1% through May 18, according to the fund research firm
Morningstar.
Though the sector's prospects remain attractive, such volatility is par for
the course, says Mark Beckwith, portfolio manager of the Vanguard Utilities
Income fund (VGSUX). Utilities and funds that focus on the sector no longer
perform like bonds, delivering most of the gains via relatively predictable
dividend yields. Instead, the industry has greater growth prospects (and the
correspondingly higher potential for losses) tied to the fluctuating demand
for power.
Already, high prices for natural gas and electricity have created incentives
for producers to boost supplies. And the stodgy local monopolies that once
dominated the industry must now reckon with a bevy of independent producers,
distributors and traders. Even telecom companies are now considered fair
game, offering managers of sector funds fresh choices alongside greater risk.
"The classification of a utility has changed," Beckwith says.
At the same time, the crisis gripping electricity-starved California is
showing other states the pitfalls to avoid as they deregulate their grids.
"The outlook for wiser deregulation is very much with us," says Bill Reaves,
a manager of the Strong American Utilities fund (SAMUX). The crisis out west
has also spurred construction of new power plants from New York to Florida,
he adds. Managers also count on continued political support from the former
oilmen in the White House who are determined to boost domestic output.
With such inducements in mind, we screened Morningstar's database looking for
no-load utilities portfolios with one-year returns of at least 1% and
three-year annualized returns of 5% or more. We also sought funds with
initial investment minimums no higher than $3,000 and expense ratios below
the category's average.
Strong American Utilities
Bill Reaves, co-manager of the Strong American Utilities fund, characterizes
the $290 million portfolio's positions as "real utilities."
"We try to concentrate in the electric and natural-gas area," Reaves says.
"We try to concentrate in holdings and companies where we see good growth."
Last year, that meant scaling back significantly from telecom stocks, in part
because of a deteriorating outlook.
Right now, electric utilities represent 44.5% of the fund - and Dominion
Resources (D) is the largest position. Energy ranging from gas utilities to
integrated oil and gas companies has also been a significant holding, at
24.2%.
Reaves and the rest of the portfolio management team are also very sensitive
to valuations. The portfolio consists of 40 stocks, but the managers can
devote up to 75% of the fund's assets to the 16 to 18 companies seen as the
best bargains.
This cautious approach has stood the fund well at a time when some of its
competitors got hit by telecoms' travails. The Strong portfolio rose 27.33%
in 2000 and is up 2.42% so far this year, contributing to a 15.18% three-year
record.
Reaves expects the good times to last, with industry earnings growth on the
order of 8% to 10% coupled with dividends of about 5% over the next three to
five years. "Demand is likely to keep on being strong...and the value of the
service is going to be appreciated a great deal more," Reaves says. For
example, the electric utilities' average price-to-earnings ratio for 2002 is
about 12 - roughly a 50% discount to the Standard & Poor's 500 index.
The minimum investment is $2,500, and the portfolio bears a 1% expense ratio.
Vanguard Utilities Income
"We won't be moving with the Nasdaq," says portfolio manager Beckwith of the
Vanguard Utilities Income fund he runs. Beckwith invests a relatively small
17% slice of the $900 million fund in telecom stocks. As with the other funds
in this screen, such caution paid off last year, when the fund gained 18.7%.
That turned the tables on 1999, when the technology boom consigned Vanguard
Utilities to the rear echelon of its peer group. Annualized over three years,
the portfolio has returned 9.33%, trailing the average utilities' fund's
10.53%.
Here, too, the emphasis is on attractive valuations. Beckwith also has a
mandate to invest at least 95% of the portfolio in dividend-paying utilities
(last year, all assets had to be invested in such stocks.) "I'm going to get
as much growth as I can without taking on too much risk," Beckwith says.
Right now, Beckwith has 61% of his assets in defensive electric utilities
such as Dominion Resources or the FPL Group (FPL).
The portfolio is down 2.65% so far this year, but Beckwith, too, is counting
on continued strong demand for electricity. "Earnings momentum will be very
good for the group at least over the next year," he says. His main concern is
that high energy prices could encourage conservation, eventually depressing
demand.
The investment threshold is $3,000, and the expense ratio is a slim 0.38%.
American Gas Index fund
This concentrated portfolio rises and falls with the gas industry's
prospects. Strong natural-gas prices boosted the American Gas Index fund's
(GASFX) return last year to a 55.86%, far above the sector's average. That
more than offset the 3.71% drop in 1999. Annualized over three years, the
roughly $300 million fund has gained 15.82%.
Like other index portfolios, the fund doesn't make stock picks; instead it
owns 73 members of the American Gas Association, representing much of the gas
distribution and transmission industry in most U.S. regions. Stocks are
weighted by market-cap and by the portion of a company's assets involved in
natural gas. Top holdings include Williams Companies (WMB), Enron (ENE) and
Duke Energy (DUK).
The initial investment is $2,500, and expenses are 0.85%.
For more information and analysis of companies and mutual funds, visit
SmartMoney.com at http://www.smartmoney.com/
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.

Malaysian LNG Sales to India Threatened by Enron Power Dispute
2001-05-22 06:32 (New York)

Malaysian LNG Sales to India Threatened by Enron Power Dispute

     Kuala Lumpur, May 22 (Bloomberg) -- Malaysia LNG Tiga Sdn.
may have to find new buyers for as much as 2.6 million metric tons
a year of liquefied natural gas if Dabhol Power Co. carries
through termination of electricity supplies to India's Maharashtra
State Electricity Board.
     MLNG Tiga has an agreement to deliver a maximum 2.6 million
tons a year of LNG each year to an import terminal Enron is
building to feed the Dabhol power plant.
     Saturday, Dabhol Power, 65 percent owned by Enron Corp. of
the U.S., started a procedure to end its power supply contract to
the electricity board, its sole customer, which owes over 3
billion Indian rupees ($64 million) in unpaid power bills.
     ``It is our hope that matters in India would be resolved,''
said Azman Ibrahim, spokesman for state-owned Petroliam Nasional
Bhd., which owns 60 percent of MLNG Tiga. ``If they do not work
out, we would have to find or make alternative arrangements.''
     MLNG Tiga is constructing Malaysia's third gas export
facility, which will raise the country's LNG capacity to 23
million tons from about 16 million tons in 2000. If Dabhol goes
through with cancellation of its power supply contract, MLNG Tiga
would have to find buyers for more than a third of the 6.8 million
tons it is adding to Malaysia's output capacity.
     Other partners in MLNG Tiga are the Sarawak state government
with a 10 percent share, Royal Dutch/Shell Group's unit Shell Gas
BV with 15 percent, Nippon Oil LNG (Netherlands) BV with 10
percent and Diamond Gas Netherlands BV with 5 percent.
     The plant is due to be completed at the end of 2002 with
commercial production due to begin in 2003.
     India's federal and state governments may have to pay Dabhol
Power Co. more than 170 billion rupees ($3.6 billion) if the Enron
Corp. unit cancels its 2,184 megawatt power venture.

		LEADER: India unplugged
Financial Times; May 22, 2001

		The latest threat from Enron, the US energy group, to pull out of its Dabhol
power plant venture near Bombay illustrates both the shambolic nature of
India's electricity system and the wider risks of investing in the country.
The project had serious drawbacks. But unless energy companies can expect a
commercial return, they will not invest in badly needed new infrastructure.
Unless contracts are honoured, few foreign companies will consider India as a
place to do business.
		The Maharashtra state electricity board, the Dabhol plant's only customer, is
refusing to pay its bills, arguing that the tariffs are unjustifiably
inflated. Prices are certainly high. The plant, fuelled by expensive naphtha,
is running way below capacity due to unexpectedly low demand, further
increasing unit costs. More difficult to judge is whether this is within the
terms of the contract, since Enron is keeping the details confidential.
		The argument over unit costs, though, is in any case less relevant than it
might seem as most of India's state electricity boards, including
Maharashtra's, operate at a large loss. Many consumers pay highly subsidised
rates. Many pay nothing. Bills go uncollected. Half of Delhi's electricity
output is stolen, mostly to power middle-class air conditioners rather than
light bulbs for the poor. Bankrupt state utilities are then periodically
bailed out to the detriment of spending on health and education.
		India's state authorities urgently need to introduce a common minimum tariff
and a more targeted form of subsidy. This may be unpopular, but the central
government's offer of Dollars 5.6bn, raised via a bond issue, to pay off the
electricity boards' debts should sweeten the pill.
		A new pricing regime is only the first step. Electricity generation,
transmission and distribution should be unbundled and privatised. Contracts
should be awarded through competition, not by arrangement with the relevant
political party. This would require much more transparency than many of
India's politicians have been ready to concede.
		Enron's difficulties over the Dabhol plant, the largest foreign investment in
India, have persuaded other western companies to withdraw from similar
projects. This will hardly help the country to overcome the power shortages
that hinder economic development. But the effect will reverberate well beyond
the energy sector.
		India receives a pitifully small slice of the world's foreign direct
investment. Infrastructure weaknesses are certainly one factor. But as
important is the readiness of Indian politicians to manipulate foreign
business for their own ends.
		Copyright: The Financial Times Limited

May 22, 2001
Houston Chronicle
Enron pulls out of venture drilling in Qatar's waters
By LAURA GOLDBERG
Copyright 2001 Houston Chronicle
Enron Corp. is pulling out of a large natural gas project off Qatar, the
company said Monday.
Plans for the Dolphin project called for Houston-based Enron to work with
Elf, a subsidiary of France's TotalFinaElf, and the United Arab Emirates
Offsets Group to develop and pipe natural gas from a block of the Qatar North
Field.
More than a year ago those involved with the project said it could end up
requiring investments of up to $10 billion over six or seven years.
Enron said Monday it was transferring its 24.5 percent stake in the project
to the United Arab Emirates Offsets Group, which said in a news release it
had started negotiating with other international players to become
stakeholders.
With the transfer, United Arab Emirates Offsets Group will own 75.5 percent
of Dolphin. Terms of the deal weren't released.
Enron pulled out for a couple reasons, including that it believes there are
better places to invest its money, said Alex Parsons, a company spokesman in
London.
The project doesn't necessarily fit with Enron's current focus.
It is emphasizing businesses such as marketing and trading in wholesale
markets such as those for natural gas, electricity and broadband.
Enron said it would consider future ventures with the United Arab Emirates
Offsets Group that were "in line with our core business activities."
M. Carol Coale, an energy analyst with Prudential Securities in Houston, said
Enron's move is consistent with its exit strategy from international assets
that generate low returns.

May 22, 2001
Houston Chronicle
Enron exploring commodity trading
Copyright 2001 Houston Chronicle News Services
NEW YORK -- Houston-based Enron Corp., the nation's largest natural gas and
electricity trading house, is looking to continue its expansion into
industries beyond energy with a move into the cocoa, coffee and sugar
businesses, industry sources said Monday.
Enron has had conversations and interviews with members of the commodity
trade in recent weeks, using a London-based recruitment firm to help them,
the sources said.
"They are definitely interested in getting into the business. Enron has been
looking for physical traders. They have some internal people and are looking
for lieutenants with experience," a cocoa trader said.
A representative of Enron's public relations department would only say that
the firm is constantly investigating different markets and opportunities.
"There is always a lot of speculation about what we are doing," Habiba Bayi
of Enron said Monday.

May 22, 2001
Houston Chronicle
Local and state
Plains Resources gets new officers
Former executives of Enron and Kinder Morgan are among those chosen for a new
slate of officers at Plains Resources, an oil and gas exploration and
production company that had been sharing management with Plains All American
Pipeline. They are filling vacancies created by people who went over to the
pipeline side, said spokeswoman Carolyn Tice.
John T. Raymond, who was vice president of corporate development at Kinder
Morgan and Kinder Morgan Energy Partners, was appointed executive vice
president and chief operating officer of Plains Resources.
Jere Overdyke Jr., formerly managing director of Enron Global Markets, was
named executive vice president and chief financial officer.
Timothy Stephens, formerly chairman, president and chief executive of Abacan
Resource Corp., was named general counsel and executive vice
president-administration.


Hello Jerry,

I would like to refer a friend of mine that is really interested in joining
Enron to the Sr. Specialist Position in your group. He has an MBA degree from
Mexico's leading business school and extensive trading and risk management
experience. I'm enclosing his resume for your reference, and feel free to
contact me or him directly.

Thanks for your attention,

Catherine Simoes


I would like to attend.

DS

06/06/2001 01:12 PM
Alma Carrillo
Alma Carrillo
Alma Carrillo
06/06/2001 01:12 PM
06/06/2001 01:12 PM
To:	John Buchanan/ET&S/Enron@ENRON, Michael Bodnar/ET&S/Enron@ENRON, Terry Kowalke/ET&S/Enron@ENRON, Ava Garcia/ET&S/Enron@Enron, Lynn Blair/ET&S/Enron@ENRON, Rick Dietz/ET&S/Enron@ENRON, Linda Trevino/ET&S/Enron@ENRON, Karen Brostad/ET&S/Enron@ENRON, Elizabeth Brown/ET&S/Enron@ENRON, Zuela Carter/ET&S/Enron@ENRON, Nancy Bastida/FGT/Enron@ENRON, Patricia Steele/ET&S/Enron@ENRON, Dennis Lee/ET&S/Enron@ENRON, Alice Johnson/ET&S/Enron@ENRON, Larry Davis/ET&S/Enron@ENRON, Richard Hanagriff/ET&S/Enron@ENRON, Esther Dasilva/ET&S/Enron@ENRON, Alma Carrillo/ET&S/Enron@ENRON, Alma Green/FGT/Enron@ENRON, Dale Eldridge/ET&S/Enron@ENRON, Raetta Zadow/ET&S/Enron@ENRON, Larry Berger/ET&S/Enron@ENRON, Hilda Lindley/FGT/Enron@ENRON, Michael Wagoner/OTS/Enron@ENRON, Martha Cormier/ET&S/Enron@ENRON, Josue Vasquez/ET&S/Enron@Enron, Jean Blair/ET&S/Enron@ENRON, James Carr/ET&S/Enron@ENRON, Jodie Floyd/ET&S/Enron@ENRON, Katherine Perry/ET&S/Enron@ENRON, Shirley Walden/ET&S/Enron@ENRON, Nancy Callans/ET&S/Enron@ENRON, MaryAnn Locknar/ET&S/Enron@ENRON, Diana Porter/ET&S/Enron@ENRON, Kathy Washington/ET&S/Enron@ENRON, Jerry Wilkens/ET&S/Enron@ENRON, Randy Bryan/ET&S/Enron@ENRON, Jean Adams/ET&S/Enron@ENRON, Robert Benningfield/ET&S/Enron@ENRON, Tangie Dykes/ET&S/Enron@ENRON, Sherry Forbish/ET&S/Enron@ENRON, Chris Greaney/ET&S/Enron@ENRON, Randy Janzen/ET&S/Enron@ENRON, Debra Scurlock/ET&S/Enron@ENRON, Joe Linhart/ET&S/Enron@ENRON, Janet McDaniel/ET&S/Enron@ENRON, Kathy Sturr/ET&S/Enron@ENRON, Harry Woodson/ET&S/Enron@ENRON, Albert Hernandez/ET&S/Enron@ENRON, Beverly Miller/ET&S/Enron@ENRON, Amy Mulligan/ET&S/Enron@ENRON, Cynthia Rivers/ET&S/Enron@ENRON, Linda Ward/ET&S/Enron@ENRON, Christine McEvoy/ET&S/Enron@Enron, Tracy Minter/ET&S/Enron@Enron, John Buchanan/ET&S/Enron@ENRON, Michael Bodnar/ET&S/Enron@ENRON, Terry Kowalke/ET&S/Enron@ENRON, Ava Garcia/ET&S/Enron@Enron, Lynn Blair/ET&S/Enron@ENRON, Ava Garcia/ET&S/Enron@Enron, William Aldinger/FGT/Enron@ENRON, Karen Clapper/FGT/Enron@ENRON, Marion Collins/FGT/Enron@ENRON, Galen Coon/FGT/Enron@ENRON, Tim Cooper/FGT/Enron@ENRON, James Cramer/FGT/Enron@ENRON, Laura Giambrone/FGT/Enron@ENRON, Jack Howard/FGT/Enron@ENRON, Lynda Laferla/FGT/Enron@ENRON, Sheila Nacey/ET&S/Enron@ENRON, Mary Phillips/FGT/Enron@ENRON, Lynn Blair/ET&S/Enron@ENRON, Steven January/ET&S/Enron@ENRON, Mike Bryant/OTS/Enron@ENRON, Dannis Bellard/OTS/Enron, Donald Angeletti/OTS/Enron, Bill Bell/OTS/Enron, Steven Chambers/OTS/Enron, Chris Charbonneau/NA/Enron, Jodi Dobrinski/OTS/Enron, Thomas Hebert/OTS/Enron, Byron Reid/OTS/Enron, Donna Sander/OTS/Enron, David Velen/OTS/Enron, Michael Wagoner/OTS/Enron@ENRON, Darrell Schoolcraft/ET&S/Enron@ENRON, Gary Spraggins/ET&S/Enron@ENRON, Jesse Alvarado/OTS/Enron, Roy Armitage/OTS/Enron, Richard Barry/OTS/Enron, Rodney Barnes/OTS/Enron, Keith Braswell/OTS/Enron, Steve Coash/OTS/Enron, Jeffrey Cochran/OTS/Enron, Helen Cummings/OTS/Enron, Michael Ellington/OTS/Enron, Margaret Hall/OTS/Enron, Sharon Brown/ET&S/Enron@ENRON, Brad Holmes/ENRON@enronXgate, Gerry Medeles/ET&S/Enron, Ramona Betancourt/ET&S/Enron, Tammy Jaquet/ET&S/Enron, Mary Draemer/ET&S/Enron, Maggie Matheson/ET&S/Enron, Toby Kuehl/ET&S/Enron, Legale Black/ET&S/Enron, James Studebaker/FGT/Enron, Alma Carrillo/ET&S/Enron@ENRON, Theresa Hess/ET&S/Enron, Shelley Corman/ET&S/Enron, Ricki Winters/ET&S/Enron, Lynn Blair/ET&S/Enron@ENRON, Ava Garcia/ET&S/Enron@Enron, Steven January/ET&S/Enron@ENRON, Sharon Brown/ET&S/Enron@ENRON, Sheila Nacey/ET&S/Enron@ENRON, Rick Dietz/ET&S/Enron@ENRON, Mike McGowan/ET&S/Enron, Julie McCoy/ET&S/Enron, Mike Bryant/OTS/Enron@ENRON, Gina Taylor/OTS/Enron, Brad Holmes/ENRON@enronXgate, Kimberly Nelson/OTS/Enron, Alma Martinez/OTS/Enron
cc:

Subject:	Zenger-Miller Course

The management team supports the offering of the Zenger-Miller course on Forward Thinking,  please let me know if you are interested in attending by responding to this e-mail.   The class will take two hours.   The purpose of this course is to outline how an effective leader uses forward thinking to play an expanded, strategic role in the organization.

Once I get a list of potential participants, I will put some dates and times together.

Regards,

Tammy


Professor Titman:
I received an e-mail from Meg Brooks in the admissions office stating that I
would be hearing from them this week.  I hope things work out and I can be
contributing to and learning from the program next year.  Thanks again for
all your help.  Hope to hear from you soon.
Ben


Re:  Dave Foti--this is what I was talking about.  He cranks out some pretty
well thought out stuff.  DF
---------------------- Forwarded by Drew Fossum/ET&S/Enron on 01/27/2000
05:06 PM ---------------------------

David Foti
01/27/2000 12:08 PM
To: Drew Fossum/ET&S/Enron@ENRON
cc:

Subject: Effect of Changing Gas Price on Gallup Economics

Again, we may want to take advantage of the recent bump in gas prices due to
the cold snap, to minimize our fixed gas payment and heat rate with ECS.  At
the very least someone should have the mandate to keep their eye on prices
and determine when to lock-in.

Take a look at the attached presentation.  Effect of changing gas prices on
Gallup is demonstrated on the first page lower left table.  Give me a call if
you have any questions.

Dave


Steve -

Thanks for the response.  I wanted to focus on the non-solicitiation
provisions as this is as important to us as it is to BEA.  I have attached
below a copy of more "standard" language that we would like to see in a
mutual non-solicitation situation.  Please take a look at this and let me
know your thoughts.

There is an internal process that must be followed in approving a mutual
non-solicitation provision.  Accordingly, if this language is acceptable,
please let me know as soon as possible so that I can initiate the process.

I will be out of the office for the next few days, but will be getting my
e-mail messages (usually at night).

Thanks for the cooperation.

Mark
Senior Counsel, EWS
Phone:     713-345-8897
Facsimile: 713-646-3490
E-Mail:      Mark.Greenberg@enron.com

	Steve Howarth <steve.howarth@bea.com>
	05/01/2001 06:59 PM

		 To: Mark.Greenberg@enron.com
		 cc: Tana.Jones@enron.com, Mike Thack <mike.thack@bea.com>, Francis Minor
<fminor@bea.com>
		 Subject: BEA - ENRON:  NONDISCLOSURE AGREEMENT/LETTER]

    Mark,

    Thanks for the feedback.  I think that the only open issue is the Section
5
nonsolicitation provision.  BEA has a corporate policy against
nonsolicitation commitments,
primarily because of the administrative burden in keeping track of such
obligations.   Of
course, it would be extremely short sighted of BEA to target a customer's
employees.  The
only way that BEA could consider any such commitment would be to make the
provisions
mutual.  As a practical matter, BEA is more at risk of having a customer
solicit its
employees - who are experts with the BEA software in which a customer is
interested - than
is our customer whose employees are experts at the customer's business in
which BEA is not
engaged.

    I have attached a revised draft of the NDA letter in which I have
incorporated your
feedback and added in a mutual nonsolicitation provision.

    Does this work for you?

    Regards,

    Steve

Mark.Greenberg@enron.com wrote:

> Steve -
>
> Thanks for the comments.  Here are my responses:
>
> 1.  Introductory Paragraph - Section (a) is unacceptable as this places an
> administrative burden on Enron that currently does not exist.  Section (b)
> is acceptable.
>
> 2.  Paragraph 3 - Changes are acceptable.
>
> 3.  Paragraph 4 -  Changes in this section are acceptable, however, it is
> Enron's strong preference that no indemnity language be included.
>
> 4.  Paragraph 5 - Deletion of this provision is unacceptable.
>
> 5.  Paragraph 6 - This deletion is fine.
>
> 6.  Paragraph 7 - This change is acceptable.
>
> 7.  Paragraph 9 - This change is acceptable.
>
> If we still need to discuss the above items, please call me.  Otherwise,
> please confirm that we can move forward based upon your changes and Enron's
> responses.
>
> Thanks.
>
> Mark
> Senior Counsel, EWS
> Phone:     713-345-8897
> Facsimile: 713-646-3490
> E-Mail:      Mark.Greenberg@enron.com
>
>
>                     Steve Howarth
>                     <steve.howart        To:     mark.greenberg@enron.com
>                     h@bea.com>           cc:
>                                          Subject:     [Fwd: BEA - ENRON:
NONDISCLOSURE
>                     05/01/2001           AGREEMENT/LETTER]
>                     11:52 AM
>
>
>
>     Mark,
>
>     Sorry, but I misspelled your name when I first sent the following
> message this morning.
>
>     Regards,
>
>     Steve
>
> X-Mozilla-Status2: 00000000
> Message-ID: <3AEEE8FB.2FBD727D@bea.com>
> Date: Tue, 01 May 2001 10:48:59 -0600
> From: Steve Howarth <steve.howarth@bea.com>
> X-Mailer: Mozilla 4.61 [en] (Win98; I)
> X-Accept-Language: en
> MIME-Version: 1.0
> To: mark.greenburg@enron.com
> CC: Francis Minor <fminor@bea.com>, Mike Thack <mike.thack@bea.com>,
> Chuck Hixson <chuck.hixson@bea.com>
> Subject: BEA - ENRON:  NONDISCLOSURE AGREEMENT/LETTER
> Content-Type: multipart/mixed ; boundary="
> ------------2161B611D0F97A4065FF80B8"
>
>     Mark,
>
>     I have been asked to review the proposed NDA/letter submitted by
> Enron to BEA.  Attached are redlined and clean versions of Rev2 of the
> letter showing our proposed modifications.  If this Rev2 is acceptable,
> I will be pleased to print, sign and return to you the clean version on
> BEA's behalf.
>
>     Please feel free to contact me at 720.528.6007 if you have any
> questions.
>
>     Regards,
>
>     Steve
>
> (See attached file: ENRON  NDA 01 05 01, rev2redline.doc)
> (See attached file: ENRON  NDA 01 05 01, rev2clean.doc)
> (See attached file: steve.howarth.vcf)
> (See attached file: steve.howarth.vcf)
>
>   ------------------------------------------------------------------------
>                                           Name: ENRON NDA 01 05 01,
rev2redline.doc
>    ENRON NDA 01 05 01, rev2redline.doc    Type: Winword File
(application/msword)
>                                       Encoding: base64
>
>                                         Name: ENRON NDA 01 05 01,
rev2clean.doc
>    ENRON NDA 01 05 01, rev2clean.doc    Type: Winword File
(application/msword)
>                                     Encoding: base64

 - ENRON  NDA 01 05 01, rev3redline.doc
 - ENRON  NDA 01 05 01, rev3clean.doc
 - steve.howarth.vcf


---------------------- Forwarded by Hunter S Shively/HOU/ECT on 03/22/2001
09:33 AM ---------------------------

Billy Lemmons@ENRON
03/21/2001 05:12 PM
To: John Sherriff/LON/ECT@ECT, Phillip K Allen/HOU/ECT@ECT, Robina
Barker-Bennett/LON/ECT@ECT, Richard A Causey@Enron, Joseph Deffner/HOU/ECT,
Andrew S Fastow/HOU/ECT, Kevin Garland/Enron Communications@Enron
Communications, Ken Rice/Enron Communications@Enron Communications, Eric
Shaw/LON/ECT@ECT, Hunter S Shively/HOU/ECT@ECT, Stuart Staley/LON/ECT@ECT
cc:
Subject: Analyst/Associate Committee Meeting

I just wanted to confirm the first meeting of the Analyst/Associate Committee
on Monday, March 26 from 8:00-10:00 am in the 50th Floor Dining Room
(eb50m).  You will find an agenda for the meeting below, as well as
attachments containing a recent overview of the program by business unit, and
the results of an October 2000 survey of program participants.  This
information should help you prepare for our meeting.

Feel free to contact me at x36671 if you would like to discuss anything prior
to the meeting.  I look forward to working with each of you.

Regards,
Billy

__________________________________________
Meeting Agenda
March 26, 2001

I. Welcome and Introductions (John Sherriff)

II. Program Overview (Billy Lemmons)
  a. Business Unit Summary
  b. Program Survey

III. Discussion Topics (Group)
  a. Program Leadership
  b. Business Plan (Focus, Metrics)
  c.. Focus Areas (what's working / what's not...)
    - Culture / Location
    - Recruiting
    - Rotations
    - Orientation
    -  Training
    - PRC

IV. Next Meeting / Next Steps (Billy Lemmons)

__________________________________________
Attachments


The MTBE plant, located on 70 acres of land in Morgan's Point, can produce
17,000 barrels per day of MTBE. Feedstocks to the plant to produce the MTBE
are methanol from Enron's methanol plant and normal butane from the Mt.
Belvieu underground storage facility. The emission sources at this facility
are authorized under Texas Natural Resource Conservation Commission (TNRCC)
air permits and authorizations (e.g., Standard Exemptions) and are not
"grandfathered" emission sources. Grandfathered emissions sources are sources
installed in Texas before September, 1971 (that predate the Texas Clean Air
Act) and are often uncontrolled.

The major sources of NOx emissions at this plant are two boilers, an oleflex
heater, and three hot oil heaters. All are currently controlled with low NOx
burners, but will require more combustion controls and Selective Catalytic
Reduction (SCR) to attain the strict limits in the proposed Houston
non-attainment regulations. The proposed limits are 0.01 pounds of NOx per
MMbtu for the two  boilers and oleflex heater, and 0.015 pounds of NOx per
MMbtu for the smaller hot oil heaters. One third of the reductions must be
attained by the end of 2002, two thirds by the end of 2003, and all
reductions must be completed (or emission credits purchased) by December 31,
2004.

Major Volatile Organic Compound (VOC) emission sources at this facility
include storage tanks (controlled with floating roofs) and loading facilities.

The methanol plant, located on 20 acres in Pasadena, can produce 125,000,000
gallons of methanol per year. Feedstocks to the plant to produce methanol are
natural gas and oxygen. Most of the emission sources at this facility are
authorized under TNRCC air permits and Standard Exemptions, but some predate
the Texas Clean Air Act and are grandfathered.

The major sources of NOx emissions at this plant are a reformer (heater) and
three natural gas-fired reciprocating engines. The reformer is currently
controlled with low NOx burners, but will require more combustion controls
and Selective Catalytic Reduction (SCR) to attain the strict limit of 0.01
pounds of NOx per MMbtu in the proposed Houston non-attainment regulations.
The proposed limit for the engines (currently uncontrolled) is 0.017 grams
per horsepower-hour. Although combustion controls and SCR are possible
control methods to attain this strict limit, they are unproven on engines,
and it is likely that the engines will need to be replaced with electric
motors. One third of the reductions must be attained by the end of 2002, two
thirds by the end of 2003, and all reductions must be completed (or credits
purchased) by December 31, 2004.

Major VOC emissions sources at this facility include storage tanks
(controlled with scrubbers) and loading facilities.

The Bammel gas storage facility is located on Kuykendahl Road in north
Houston and is used for the underground storage of natural gas. The 15
natural gas-fired engines at this facility were replaced with electric motors
in 1999. The estimated reductions of emissions by the replacements at this
facility were 1,254 tons/year of NOx and 42 tons per year of VOC. Most of the
NOx credits have been sold to other companies under TNRCC,s current trading
program, which is not a cap and trade program.

The remaining minimal emissions at this site are from the glycol dehydrators
(NOx and VOC), and storage tanks (VOC). The VOC emissions from the
dehydrators are already controlled with incinerators under current TNRCC
regulations.

The 1999 emissions from the chemical plants as indicated in Enron,s EH&S
Annual Report are 2,822 tons per year of NOx, 823.7 tons per year of VOC, and
195 tons per year of Carbon Monoxide. Most of the NOx emissions are from the
uncontrolled engines at the methanol plant.

The Cost Estimate for the installation of combustion controls and SCR, and
replacement of the engines at the chemical plants is $30 to $40 million.


What record will FERC file today???  This is crazy.  Ray please call me when you get in.

Jim

 -----Original Message-----
From: 	Frank, Robert
Sent:	Thursday, October 25, 2001 5:38 PM
To:	Alvarez, Ray; Steffes, James D.; Robertson, Linda; Novosel, Sarah
Subject:	RE: Weird procedural situation

Ray - it seems highly likely the court will allow FERC to proceed w/ rehearing.  In any case, I doubt an adverse ruling would affect the PNW case as the 7/25 order simply announced the new proceeding.

 -----Original Message-----
From: 	Alvarez, Ray
Sent:	Thursday, October 25, 2001 5:25 PM
To:	Steffes, James D.; Robertson, Linda; Frank, Robert; Novosel, Sarah
Subject:	Weird procedural situation

OK, here are the facts as I understand them:  The CPUC filed petitions for review of the FERC's various refund orders in the Ninth Circuit Court of Appeals. There is an unresolved jurisdictional issue that the petitions filed in the Ninth Circuit are incurably premature because they sought review of orders for which the petitioner was also requesting rehearing.  The current status of the CPUC's Ninth Circuit petitions is that the court has not yet dismissed the petitions as premature and FERC must file the record in the Ninth tomorrow, October 26.  At that point, under Section 313 of the Federal Power Act, the jurisdiction of the court of appeals becomes exclusive, and  FERC will not be able to modify the orders under review except by leave of the court.  FERC has filed, and the CPUC is supporting, a motion for an order permitting FERC to keep jurisdiction over its orders so that it can act on the pending rehearing requests.  By all rights, the court should go along with this, but it's gone on this long.  We are not adversely impacted.  Arguably if FERC loses jurisdiction, the PNW and CA refund cases should come to a complete stop, although this is an unlikely scenario.  I will keep you posted of new developments.  Ray


When: Wednesday, January 23, 2002 11:00 AM-12:00 PM (GMT-06:00) Central Time (US & Canada).
Where: EB47C1

*~*~*~*~*~*~*~*~*~*

Please plan to attend the above meeting today at 11:00 a.m. in EB47C1 (Go Left through the Glass Doors). Any questions, please call Emily at 853-7172.  Thanks.


---------------------- Forwarded by Chris Germany/HOU/ECT on 01/31/2001 08:27
AM ---------------------------

"CustomerNotices, WGPHOU" <WGPHOU.CustomerNotices@Williams.com> on 01/29/2001
03:10:06 PM
To:
cc:
Subject: Transco - FT And IT Rates Effective February 1, 2001

Media Inquiries: Chris Stockton
                 (713) 215-2010
Other Inquiries: Rate Dept. 1-800-248-0404, Option #7January 29, 2001

To:  Transcontinental Gas Pipe Line Corporation Customers and
Shippers

Re:  FT and IT Rates effective February 1, 2001

On January 24, 2001, the Commission issued an order in Docket
Nos. RP97-71-020 and RP97-71-021 which, among other things,
approved the pro forma tariff sheets included with the filing.
The Commission's order also directed Transco to file actual
tariff sheets to be effective February 1, 2001.  Transco intends
to file the revised tariff sheets with the Commission on February
1, 2001.  If accepted as proposed, outlined below for your
convenience are Transco=s Rate Schedule FT and IT rates effective
February 1, 2001.

Summary of Rate Schedule FT Demand Maximum Rates
(Excluding Surcharges)

Demand Rates ($/Dt)
                              Del. Zone

          Zone 1   Zone 2   Zone 3   Zone 4   Zone 5   Zone 6
Rec. Zone

Zone 1    2.1284   2.7625   3.6820   7.0221   9.4933   10.8315
Zone 2    2.7625   2.2262   3.1457   6.4858   8.9570   10.2952
Zone 3    3.6820   3.1457   2.5116   5.8517   8.3229    9.6611
Zone 4    7.0221   6.4858   5.8517   4.9322   7.4034    8.7416
Zone 5    9.4933   8.9570   8.3229   7.4034   4.0633    5.4015
Zone 6   10.8315  10.2952   9.6611   8.7416   5.4015    2.9303

Zone 4A (Mobile Bay) Demand Rate   $2.4072

Commodity Rates (cents/Dt)
                              Del. Zone

          Zone 1   Zone 2   Zone 3   Zone 4   Zone 5   Zone 6
Rec. Zone

Zone 1    0.24     0.50     0.75     1.86     2.74     3.20
Zone 2    0.50     0.30     0.55     1.66     2.54     3.00
Zone 3    0.75     0.55     0.29     1.40     2.28     2.74
Zone 4    1.86     1.66     1.40     1.15     2.03     2.49
Zone 5    2.74     2.54     2.28     2.03     0.92     1.38
Zone 6    3.20     3.00     2.74     2.49     1.38     0.50

Zone 4A (Mobile Bay) Commodity Rate   0.34

Summary of Rate Schedule IT Commodity Maximum Rates
(Excluding Surcharges)

Commodity Rates (cents/Dt)
Del. Zone

          Zone 1   Zone 2   Zone 3   Zone 4   Zone 5   Zone 6
Rec. Zone

Zone 1    06.37    08.72    12.00    24.10    33.10    37.96
Zone 2    08.72    06.76    10.04    22.14    31.14    36.00
Zone 3    12.00    10.04    07.69    19.79    28.79    33.65
Zone 4    24.10    22.14    19.79    16.51    25.51    30.37
Zone 5    33.10    31.14    28.79    25.51    13.41    18.27
Zone 6    37.96    36.00    33.65    30.37    18.27    09.27

Zone 4A (Mobile Bay) Commodity Rate   7.39

For additional information please contact your Customer Service
Representative or Rate Department Representative.

Charlotte Hutson
Manager - Rate Department
(713)215-4060

--------------------------ADDITIONAL X12 INFORMATION------------------------
Trans. Svc. Provider: 007933021 - TRANSCONTINENTAL GAS PIPE LINE CORPORATION
   Notice Identifier: L0101291
     Critical Notice: No
      Type of Notice: 6-Other
   Required Response: 5-No Response Required
   Resp By Date/Time: N/A
Notice Eff Date/Time: 01/29/01 15:05:40
Notice End Date/Time: N/A
              Status: 1-Initiate
 Prior Notice Ident.: N/A

 - C.DTF


check this out and let everyone know what's up.
---------------------- Forwarded by Tim Belden/HOU/ECT on 08/20/2000 09:16 PM
---------------------------
From: Richard Ingersoll on 08/17/2000 01:11 PM CDT
To: Tim Belden/HOU/ECT@ECT, Tim Heizenrader/PDX/ECT@ECT
cc:
Subject: RE: Path 26 OTC increase -- study report and conference call info

I haeeery reason to believe that this uprating of path 26 from  2800 to 3000
will get approved for the balance of the summer.
---------------------- Forwarded by Richard Ingersoll/HOU/ECT on 08/17/2000
01:09 PM ---------------------------

Eddy Lim <ELim@smud.org>@wscc.com on 08/16/2000 04:41:52 PM
Sent by: Maiser@wscc.com
To: "Operating Transfer Capability Policy Group" <otc@wscc.com>
cc:
Subject: RE: Path 26 OTC increase -- study report and conference call info

 <<OTC-Path 26-2000Summer Report update.doc>>

Dear CA OSS and WSCC OTCPG members,

 Attached is the Path 26 study report which supports moving the
thermally limited OTC from 2800 MW to 3000 MW.  The COI/PDCI and SCIT
nomogram remain unchanged. The CAISO has scheduled a conference call this
Friday to discuss this report and seek OSS and WSCC OTC PG review and
approval.  I know this is short notice for most of you.  In the interest are
reliability and full utilization of the system,  I thank you all in advance
for supporting the expedited review of this report.

If you have any questions or comments on the report please E-Mail  Chuck Wu
at Cywu@caiso.com <mailto:Cywu@caiso.com>  and CC me at Elim@smud.org
<mailto:Elim@smud.org> .

SEC at WSCC please post and distribute accordingly.

Talk to you this Friday!

Eddy Lim
SMUD
System Operations and Reliability
(916) 732-5362

 Conference Access
 ------------------------------------------
 US/Canada Dial-In Number:  (877) 381-5996
 Passcode (Owner ID):  784377
 ------------------------------------------
 Company Name:  California ISO
 Leader's Name:  Chuck Wu
 Conference Date:  8/18/2000
 Start Time:  10:00 am Pacific Time

 - OTC-Path 26-2000Summer Report update.doc


In an effort to save a little time I'm forwarding you the email I just sent
my friend Emily in London.  Get back to me if you would like me to expound on
anything.  Turns out he's a real jerk.

Susan
---------------------- Forwarded by Susan M Scott/HOU/ECT on 09/21/2000 03:14
PM ---------------------------

Susan M Scott
09/21/2000 02:38 PM
To: ehillegeist@hotmail.com
cc:
Subject: We have closure! (well, sort-of)

I'm soooo good.  The chosen path was cool, indifference.

So, last night was Steak Night and with Nick and Wilson both in town we had a
really good showing.  I got there about 7:30 with Nick, and the group's size
swelled to about 12+ by 8:30 - 9:00.  About 8:00 I saw Kevin (Ted's pal - the
one you meet a steak night) wandering around LW's obviously in search of
someone.  Can you believe it?  He (Ted) knew I had organized this gathering -
I know that because Nick is working right across from he and Darren and
overheard Darren encouraging Ted's attendance (mind you Ted was not in the
email distribution) - and he had the nerve to come.  Anyway, Kevin saw me and
came over to chat.  He informed me that "our friend Ted should be there
shortly" to which I responded, "You would know better than me at this
point".  The subject was dropped until he felt the need to raise it again.
He asked if Ted and I parted on good terms/ bad terms, etc.  I said there
really weren't any terms, I just hadn't heard a peep out of him for about 2
weeks.  Kevin wanted to know if I was going to break a bottle over Ted's head
and cause a big scene.  When I said no, I think he was genuinely
disappointed.  I said in order for me to do something like that I would have
to care about the "loss" and that, while a week or two earlier I might have
cared a bit more, with each passing day the "loss" seems less and less like
much of a loss.  Kevin told me I was better-off without Ted.  To go even
further, he informed me that there is no way he would ever let a daughter of
his date Ted nor any of his "girl-friends".  He said that while he thought
Ted was a great guy (i.e. fun to be around, good stories, etc.) he wasn't
good dating material.  I agreed with Kevin saying "Ted is a great guy, he
just makes a lousy man" (don't you like that one?).  I then went on to say
"Anyway, I'm destined for bigger and better things, right?".  Kevin: "Much
bigger and much better."  About this time my parents showed up...the plot
thickens.  I introduced Kevin to my parents and since both my Dad and Kevin
were in the Navy and attended Colorado they had much to talk about.  The two
of them had probably been talking for about half an hour when
"dum-da-dum-dum" Ted shows up.  He approaches our group because he sees Kevin
and is forced to make eye-contact with me.  I give him a "hey" and he gives
me the arm squeeze and a much too pleasant "how's it going?".  He asked what
Kevin and my Dad were talking about, I told him the Navy, he said don't get
Kevin started or you'll never shut him up...Then he walked away.  He never
acknowledged my parents nor did he ever speak to me again the rest of the
evening.  The beautiful thing is Kevin stays and talks with my Dad for
another half hour and when Darren shows up he hangs out with "my group" for
quite a while before going to join Ted.  My parents and I ate our steaks
right behind Ted and then went back over to our group at the picnic table
when we were finished.  It really was a great night.  I would almost say I
was glowing (I was having so much fun with my friends and family and it
wasn't a show for Ted's benefit...I really was having a great time).  So,
when my parents decide to head out they walked over to Ted/Kevin's table to
say good-bye to Kevin.  It was awesome.  Ted's sitting right next to Kevin
while Kevin and my Dad are talking and appears to be actually shrinking in
his chair.  Yet again no acknowledgement of my parents - he couldn't even
make eye-contact.  I ended up staying there for at least another hour and
then went with a few of the guys to the Ale House.  Needless to say I was
very hung over today.  Anyway, there's the story...He's a complete and utter
ass-hole.  So I'm done.  And no, there is no way he could weasel his way back
in to my good graces.

Now on to a fun subject, my trip to London.  I bought my ticket today ( I
think I got hosed a little bit, but it was the cheapest ticket I could find -
$450 before taxes).  I will arrive at Heathrow airport around 7:00 a.m.
Friday the 6th and depart about 11:00 a.m. on Tuesday the 10th.  I'm very
excited about the trip, I really need to get out of Houston.  I leave the
activities in your capable hands.  ( bear in mind I will have to see Darren
and Nick at some point).

"Single again" Sue


---------------------- Forwarded by Kayne Coulter/HOU/ECT on 04/27/2001 12:55 PM ---------------------------
From:	Bill Rust/ENRON@enronXgate on 04/27/2001 12:53 PM
To:	Kayne Coulter/HOU/ECT@ECT, Jim Homco/HOU/ECT@ECT, Lloyd Will/HOU/ECT@ECT, Jeffrey Miller/NA/Enron@Enron, Tom May/Corp/Enron@Enron, Clint Dean/Corp/Enron@Enron, Smith L Day/HOU/ECT@ECT
cc:	Christi L Nicolay/HOU/ECT@ECT
Subject:	RE: MDEA

Please see my comments in red below. Thanks - Bill Rust

Transmission Scenarios for MDEA

What would the following procedures be for MDEA's network services.

1.	Buying megawatts from the market and bringing in from outside of Entergy.
a.	Ex.  AEP-TVA-EES-MDEA
For day-ahead (or earlier), put in a network request (designated resources) on the Entergy OASIS, POR=TVA, POD=EES, SOURCE=AEP, SINK=MDEA, BID PRICE = $0.0.  The request will be subject to interface availability and will be evaluated by Entergy accordingly.

2.	Buying megawatts from the market inside of Entergy.
a.	Ex.  Lagen- MDEA
For day-ahead (or earlier), put in a network request (designated resources) on the Entergy OASIS, POR=LAGN, POD=EES, SOURCE=(LAGN UNIT NAME), SINK=MDEA, BID PRICE = $0.0.  The request will be subject to availability and will be evaluated by Entergy accordingly. (If the source is an Entergy unit (or AXIA) use POR=EES.

3.	Using the network services request number for the Sepa contract when Sepa is not flowing and we can bring MGW's in from the Tva border.
a.	Ex.  We find 11 MGW's  LGE-TVA-EES-MDEA.
For day-ahead (or earlier), put in a network request (designated resources) on the Entergy OASIS, POR=TVA, POD=MDEA, SOURCE=LGE, SINK=MDEA, BID PRICE = $0.0. Put a comment in the request that states this request is modifying (displacing) the existing request (SEPA; OASIS #851472). - I need to clarify this with Entergy but this is the approach I recommend.

NOTE: When scheduling on the above requests, the transmission is considered F-7 priority level. When you want to schedule intra-day (hourly), you must request non-firm (import for Native/NST loads. This type of transmission is NN-6 priority level.
Remember - all bid prices are $0.0 because MDEA is charged by their load share ratio.

This is all of the scenarios that I can think of that may cause a problem.  I just want to make sure that everyone is on the same page especially with Entergy Transmission.

 -----Original Message-----
From: 	Coulter, Kayne
Sent:	Friday, April 27, 2001 7:49 AM
To:	Homco, Jim; Will, Lloyd; Miller, Jeffrey; May, Tom; Dean, Clint; Day, Smith
Cc:	Rust, Bill; Nicolay, Christi
Subject:	MDEA

I have attatched some transmission scenarios

 << File: Transmission Scenarios for MDEA.doc >>

please comment

Thanks
Kayne Coulter


Thanks for the update.   Mark


look at sheet 2


Hello Paul,

Could you please put me on the list for a 19" or 21" unit (preferably 19").

Thanks,

David Porter.

 -----Original Message-----
From: 	Kane, Paul
Sent:	Wednesday, October 24, 2001 8:32 AM
To:	DL-Portland World Trade Center
Subject:	Monitor Sale

All,

We will be offering monitors for sale again in the Portland Office.  We have a variety of monitors for you to choose from.

Older 17' units - $10
Newer Compaq 17' units - $20
Older 21' units - $25
Newer Compaq 19' units - $35

Please respond to this email with the type of monitor you would like to purchase.  Will have a lottery type drawing on Friday Morning. By Friday afternoon, you will be notified that you can come by and pick out your monitor. We need to have all monitors picked up and removed my Friday the 2nd. After that, all remaining monitors will be donated to charity.

Regards,
Paul Kane
Portland IT


Dear Mr Mark E  Haedicke

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For the full programme, visit http://www.utiliconforum.com/asiapower_2002/ Sign up before 31 October 2001 to qualify for a 10% discount off registration fees! To register, mailto: suzanne.voo@terrapinn.com.

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Best regards

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Conference Manager
Asia Power 2002

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The gas book liquidated twice, so our QTD and YTD was understated.  I
manipulated west hedge to back off the liquidation, and then had to bring the
west hedge new balance into  DPR 11/30, which also impacted DPR 12/01, and
DPR 12/04.

In numbers, LT books QTD and YTD increased on 11/30  by approximately 1.1mm
to $4,238,083 and $477,795,999 respectively.  That increase had to flow
through to the 12/01 and 12/04 post hoc.  I re-published and re-exported
11/30 and 12/01 using the Report files for 11/30, 12/01.

As an aside, Life To Date westhedge numbers are not completely incorporated
into the 11/30 through current DPRs, so I will continue to address the Life
To Date until it is fixed.


This request has been pending your approval for  6 days.  Please click http://itcapps.corp.enron.com/srrs/auth/emailLink.asp?ID=000000000076416&Page=Approval to review and act upon this request.

Request ID          : 000000000076416
Request Create Date : 11/16/01 4:03:20 PM
Requested For       : harlan.murphy@enron.com
Resource Name       : LiveLink ENA
Resource Type       : Applications


Seems like we should have a link from GRO site to this.  Is this part of
Brent's organization ?

http://globaltrade.enron.co.uk/


Per today's call, I added a couple of issues.  GAC


i get in thurs night.  we can go out either fri or sat or both.


guys, I am out of town - John you will have to represent EA.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 02/09/2001
10:04 AM ---------------------------

	Tracy L Arthur

	02/08/2001 09:16:35 AM

To: Stanley Horton/Corp/Enron@Enron, David W Delainey/HOU/ECT@ECT, Louise
Kitchen/HOU/ECT@ECT, Jeffrey McMahon/HOU/ECT, Colleen Sullivan/HOU/ECT@ECT,
John Thompson/LON/ECT@ECT, Mike McConnell/HOU/ECT@ECT, Christopher B
Hunt/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Dan Leff/HOU/EES@EES, Tim
DeSpain/HOU/ECT@ECT
cc: Celeste Roberts/HOU/ECT@ECT, Shelly Jones/HOU/ECT@ECT, Donna
Jones/HOU/ECT@ECT, Cindy Stark/Corp/Enron@ENRON, Kimberly Nelson/OTS/Enron,
Kay Chapman/HOU/ECT@ECT, Tammie Schoppe/HOU/ECT@ECT, Sue Ford/HOU/ECT,
Kimberly Brown/HOU/ECT@ECT, Karin Ahamer/EU/Enron@Enron, Cathy
Phillips/HOU/ECT@ECT, Ann Brown/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Kathy
Dodgen/HOU/EES@EES, Carol Ann Brown/Enron Communications@Enron
Communications, Marion Sczykutowicz/HOU/ECT@ECT
Subject: CONFIRMATION - Associate Orientation Business Unit Presentations

Thank you all for agreeing to participate with the Associate Orientation -
Introduction  Enron's Businesses presentations.  The presentations will be
conducted on the dates and times listed below, as previously scheduled.  All
presentations will take place at the Doubletree Allen Center in the Dezavala
room.

If you have any questions or require any additional information, please feel
free to contact me at 713-345-7853.

Thank you again,
Tracy Arthur
Communication Specialist

LOCATION:
Doubletree Allen Center
Dezavala Room

WEDNESDAY, FEBRUARY 14
ETS  Stan Horton  Wednesday, February 14 9:15 a.m. - 9:45 a.m.
EA  Dave Delainey  Wednesday, February 14 9:45 a.m. - 10:15 a.m.
ENW  Louise Kitchen  Wednesday, February 14 10:30 a.m. - 11:00 a.m.
EIM  Jeff McMahon  Wednesday, February 14 11:00 a.m. - 11:30 a.m.
Trading Simiulation  Colleen Sullivan Wednesday, February 14 1:30 p.m. - 2:00
p.m.
EEL  John Thompson Wednesday, February 14 2:00 p.m. - 2:30 p.m.
EGM  Mike McConnell  Wednesday, February 14 2:30 p.m. - 3:00 p.m.
EGA  Chris Hunt  Wednesday, February 14  3:00 p.m. - 3:30 p.m.

THURSDAY, FEBRUARY 15
EES   Dan Leff Thursday, February 15  8:45 a.m. - 9:15 a.m.
EBS   Kevin Hannon Thursday, February 15  9:15 a.m. - 9:45 a.m.
Global Finance  Tim Despain Thursday, February 15  10:15 a.m. - 10:15 a.m.


-----Original Message-----
From: 	"Bonnie Lathram" <blathram@LMNArchitects.com>@ENRON [mailto:IMCEANOTES-+22Bonnie+20Lathram+22+20+3Cblathram+40LMNArchitects+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Tuesday, July 17, 2001 10:30 AM
To:	Scott, Susan M.
Subject:	more seattle advice

hey i emailed one of my friends and asked her about kayaking,etc.  when
i get a chancce i will look up some internet sights that might have info
on that sort of thing in seattle. if you have a sec, you may want to try
seattleinsider.com--- i think they are supposed to be pretty good and
helpful

i havent talked to luke yet, so i dont exactly know my plans for the
weekend unfortunately....

i am thinking that i will head to whistler on early saturday morning,
and that way i can go to dinner with you and your friend on friday
night, or head out and have drinks, or both, or whatever yall want to
do!

the weather is supposed to be great this weekend, but with seattle you
never know.

my MAJOR SUGGESTION is that you bring some sort of light jacket for
sure, or a pullover or something. it gets so darn cold at night- believe
me you will be glad.  plus on the ferry ride over to san juans it could
get kind of chilly if you are sitting outside.

ive already given you my cell phone number i think (206.851.9177)
definitely call me when you get in town on thursday night or on friday.
the number i have given you is my cell phone and you can call me anytime
on it. if i dont answer, i check it frequently and you can leave a
message and ill call you back.

very exciting to have visitors from texas. see you friday hopefully.

oh, where are you staying?
bonnie
-----Original Message-----
From: Scott, Susan M. [mailto:Susan.M.Scott@ENRON.com]
Sent: Monday, July 16, 2001 7:54 AM
To: Bonnie Lathram
Subject: Tour Guide

Hi Bonnie,

How are you doing?  Lisa said you'd broken your foot recently and have
been stuck on crutches...which I'm guessing is no fun when you're riding
public transportation.  Anyway, I was writing to see if you might have
some suggestions of things to do and places to go while in Seattle.  One
of my co-workers and myself are flying up Thursday for a long weekend in
your fair city and were hoping to get a few pointers.  I hope you're
still enjoying things as much as you were a few months ago.  It looks
like you may have changed jobs already, which I trust is a good thing
for you.  I'm very anxious to see the city and all it has to
offer...there is a part of me that has always thought I'd like to live
in the Pacific Northwest for a while (so this will be a little bit of a
research trip for me).  If you could start thinking of suggestions for
restaurants, bars, outdoor activities, etc. that would be great, and
maybe if you're in town we could get together for a meal or a drink.

Thanks a bunch,
Susan


Ben,

here are the new numbers (much more favorable).

Give me a call if you want to discuss them.

Yvan
34292


The report named: Violation/Notification Memo <http://erv.corp.enron.com/linkFromExcel.asp?report_cd=60&report_name=Violation/Notification+Memo&category_cd=2&category_name=ENRON%20CONSOLIDATED&toc_hide=1&sTV1=2&TV1Exp=Y&current_efct_date=10/22/2001>, published as of 10/22/2001 is now available for viewing on the website.

Publisher's Notes:

PRELIMINARY


Tana -

I finalized the Tradespark NDA since I know you are busy with Prebon.
Michael Bridges called me this morning wondering where the final was.

If you could print the attached on the proper letterhead, I will initial it
and we can get it to Michael.

Thanks.

Mark
Senior Counsel, ENA
Phone:     713-345-8897
Facsimile: 713-646-3940
E-Mail:      Mark.Greenberg@enron.com


Thank you Donnie.

I was having server problems yesturday so you did the right thing!

Thanks again and have a wonderful day.

Kim


Ken,

In my pre-Enron life, I taught history (years and years ago).

Recently, while culling files in preparation for moving from EB to 3AC,  I
came across a pamphlet about the origins of the Transwestern Pipeline Company
and found it very interesting - for the second or third time.

In particular, I am impressed by the vision these pioneers had.  My concern
is that our Enron preserve some record of those early people and days of the
entities that make up the bigger Enron.  They were awesome.

In another pre-Enron segment of my life, I worked for a rare and out-of-print
book dealer.  One of the collections we worked hard to accumulate and then to
sell as a collection was a group of business histories.  The collection was
snapped up the first month we put it on the market.  Great business stories
go on and on being researched by and inspiring new generations of
entrepreneurs.

Not having practiced my craft as historian for many years, I am no longer
familiar with the important names in historical writing (except for popular
historians such as Stephen Ambrose).  If Enron doesn't already have a
historian, we need an established writer of substantial stature - someone
whose produced work would reach a lot of people.

Maybe someone from the Rice University staff could point the way?  Or, maybe
even someone from Rice has the qualities needed to produce an exciting
history of Enron.

Because ours is such a great story, I would like to see a project such as
this pursued.  I would like to know what you think about this suggestion.

Thanks for letting me send this your way.

Vera Jones, ETS Project Control


Vince,
I had a lunch meeting with Rudi and Vladi from RAC, and I also met with Ted
Murphy.
They are supposed to get back with me by Friday to confirm the proposed
summer rotation.

So far I have a very positive impression of the group, and the projects that
they are involved in.
They also told me that RAC and Research people are often working on projects
together, so I am sure that my ties with Research are not going to go away
with me rotating to RAC.

I will keep you posted on further developments.

Coordially,

Jason Sokolov