Note:  With Dynegy as anchor, NGPL is planning on building a lateral into St.
Louis for the first time.  MRT (a Reliant pipeline)
has been the only pipeline into this market.

NGPL Plans Lateral to Serve Illinois Power in St. Louis

Natural Gas Pipeline Company of America (NGPL) announced plans to build a new
47-mile, 24-inch diameter pipeline lateral into St. Louis to serve Illinois
Power's gas distribution system. The $35 million project, which is anchored
by a contract with Illinois Power affiliate Dynegy Marketing and Trade, will
add at least 300,000 Dth/d of gas transportation capacity to the St. Louis
market.

"The pipeline project and related agreements ideally demonstrate our ongoing
strategy to expand our natural gas pipeline services into growing markets
currently not connected to NGPL and to increase throughput on our system by
adding electric load to our extensive pipeline network," said Richard D.
Kinder, CEO of Kinder Morgan Inc., the parent company of NGPL.

The new lateral will extend from Centralia, IL, to a point on Illinois
Power's gas distribution system in the East St. Louis market. The project is
scheduled for completion in June of 2002.

NGPL and Dynegy entered into a number of long-term, gas transportation and
storage contracts, including a 10-year agreement effective June 1, 2002,
which will provide Dynegy with 90,000 Dth/d of gas via the new pipeline. In
addition, NGPL and Dynegy entered into various other firm transportation
agreements totaling another 98,000 Dth/d of gas sourced from NGPL's Gulf
Coast and Amarillo lines beginning as early as Dec. 1, 2000.

The NGPL project effectively creates a new supplier for a geographical area
that until now has been served by just one natural gas transportation company
[Mississippi River Transmission], according to Larry F. Altenbaumer,
president of Illinois Power. "This new connection to Illinois Power's system
will help open competitive opportunities to natural gas customers in the
metro east area of St. Louis. It not only provides for a new delivery point
to service customers directly, but also to fuel electric generation in the
area.

"The 10-year agreement to provide firm transportation service to Dynegy
provides us a solid anchor customer for the pipeline project," said Deb
Macdonald, president of NGPL. NGPL intends to solicit expressions of interest
from other shippers in December and January. The results of the open season
will determine the final scope of the project.

"With Dynegy as our anchor customer, we will build the new lateral into the
St. Louis market regardless of whether we receive other expressions of
interest," said Macdonald. "We anticipate a strong response, however, given
the size of the market and the potential for additional gas-fired power
generation."

Interested shippers should contact Mark Menis, NGPL's director of business
development, at (630) 691-3347.


Rick just informed me that he will be unable to participate in this
conference call.  He still wants the call to take place as scheduled.
Thanks,
Debra

>  -----Original Message-----
> From: 	Kimmel, Debra [FI]
> Sent:	Friday, January 04, 2002 5:21 PM
> To:	Flood, Scott L [GCO]; Stuckey, Richard A [FI]; Casaudoumecq, John
> [FI]; 'Kitchen, Louise'; Costa, Randall [GCO]
> Subject:	PA and ETA topics
>
>
> A conference call has been scheduled for Monday, January 7th for 10:30am
> to discuss the PA and ETA topics with Enron.
> Below is the information for the conference call:
>
> Toll Free Number:	888-780-9655
> Passcode:		ETA
> Leader:			Richard Stuckey
> Confirm:		656118
>
>
> Any questions, contact Debra Kimmel at 212-723-9472
>
> Thanks,
> Debra


-----Original Message-----
From: 	Winckowski, Michele
Sent:	Wednesday, October 03, 2001 1:17 PM
Subject:	FW: I AM THANKFUL FOR ......

> > > I AM THANKFUL FOR ......
> > >
> > > THE PARTNER WHO HOGS THE COVERS EVERY NIGHT,
> > > BECAUSE HE
> > > IS NOT OUT WITH SOMEONE ELSE.
> > >
> > > THE CHILD WHO IS NOT CLEANING HIS ROOM, BUT IS
> > > WATCHING TV,
> > > BECAUSE THAT MEANS HE IS AT HOME AND NOT ON THE
> > > STREETS.
> > >
> > > FOR THE TAXES THAT I PAY, BECAUSE IT MEANS THAT I
> > > AM EMPLOYED.
> > >
> > > FOR THE MESS TO CLEAN AFTER A PARTY, BECAUSE IT
> > > MEANS THAT
> > > I HAVE BEEN SURROUNDED BY FRIENDS.
> > >
> > > FOR THE CLOTHES THAT FIT A LITTLE TOO SNUG,
> > > BECAUSE IT MEANS
> > > I HAVE ENOUGH TO EAT.
> > >
> > > FOR MY SHADOW THAT WATCHES ME WORK, BECAUSE IT
> > > MEANS I AM IN THE SUNSHINE.
> > >
> > > FOR A LAWN THAT NEEDS MOWING, WINDOWS THAT NEED
> > > CLEANING, AND GUTTERS THAT NEED FIXING, BECAUSE IT MEANS I HAVE A
HOME.
> > >
> > > FOR ALL THE COMPLAINTS I HEAR ABOUT THE
> > > GOVERNMENT, BECAUSE IT MEANS THAT WE HAVE FREEDOM OF SPEECH.
> > >
> > > FOR THE PARKING SPOT I FIND AT THE FAR END OF THE
> > > PARKING LOT, BECAUSE IT MEANS I AM CAPABLE OF WALKING AND THAT I HAVE
> > > BEEN BLESSED WITH TRANSPORTATION.
> > >
> > > FOR MY HUGE HEATING BILL, BECAUSE IT MEANS I AM
> > > WARM.
> > >
> > > FOR THE LADY BEHIND ME IN CHURCH THAT SINGS OFF
> > > KEY, BECAUSE IT MEANS THAT I CAN HEAR.
> > >
> > > FOR THE PILE OF LAUNDRY AND IRONING, BECAUSE IT
> > > MEANS I HAVE CLOTHES TO WEAR.
> > >
> > > FOR WEARINESS AND ACHING MUSCLES AT THE END OF
> > > THE DAY, BECAUSE IT MEANS I HAVE BEEN CAPABLE OF WORKING HARD.
> > >
> > > THE ALARM THAT GOES OF IN THE EARLY MORNING
> > > HOURS, BECAUSE IT MEANS THAT I AM ALIVE.
> > > AND FINALLY.......
> > >
> > > FOR TOO MUCH E-MAIL, BECAUSE IT MEANS I HAVE
> > > FRIENDS WHO ARE THINKING OF ME.
> > >
> > > ** SEND THIS TO SOMEONE YOU CARE ABOUT, AND WHEN
> > > YOU THINK YOUR LIFE IS SO BAD, READ THIS AGAIN **
> > >
> >


Mark:

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

Please advise.

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

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

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

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

Thanks - Kass Portra

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


please print this and attached and put in the Project Canary Due Diligence
file.  Thanks.  Michelle

---------------------- Forwarded by Michelle Cash/HOU/ECT on 12/06/2000 01:58
PM ---------------------------

"Lynn Scrivener" <lscrivener@davis.ca> on 12/06/2000 01:44:43 PM
To: <michelle.cash@enron.com>
cc:
Subject: Celgar Pulp Company

Attached are copies of Dean Crawford's correspondence to the  Employment
Standards Branch and to Celgar.? These documents are in  Microsoft Word
format.
?
Lynn Scrivener
Davis & Company
(604) 687-9444 x.  364
lscrivener@davis.ca
 - LTemp stds - Celgar request.doc
 - LT Cargill enc. authorization.doc


Dear Dr. Lockwood,

I had discussed with you an extension for RC502 and I would like to propose finishing the course in January of 2002.   I am currently enrolled in RC520 and will finish this course as per the regular schedule.  The reason for my extension request is due to an unexpected increase in workload from my current job, my desire to focus on the Analytic methods course and my decision to apply to the DIA JMIC Graduate training program (I wish to spend a good deal of time time on the application).  Please let me know if this meets with your approval.

Sincerely,

Lawrence J. May
713 853-6731
work: larry.may@enron.com
home: ljnmay@aol.com


Sara, as you assumed this matter, see attachments.

Cheryl Nelson
Senior Counsel
EB3816
(713) 345-4693
http://gss.enron.com/
----- Forwarded by Cheryl Nelson/NA/Enron on 06/06/2001 09:14 AM -----

	Anthony Capolongo <A.Capolongo@morganstanley.com>
	06/06/2001 07:43 AM
	Please respond to A.Capolongo

		 To: cheryl.nelson@enron.com
		 cc: Ketan Parekh <Ketan.Parekh@morganstanley.com>, Joseph Marovich
<Joseph.Marovich@morganstanley.com>, tom.doukas@enron.com
		 Subject: Enron Credit Inc.

Cheryl:

As requested, attached are the Master Securities Loan Agreement and Cash
Letter needed to set up Enron Credit Inc. on the enhanced product.
Please forward two sets of originals to my attention and I will forward
a fully exected original copy to Enron.

Regards,

Anthony

 - EnronCredit.doc
 - Arranged Cash Agreement Letter.DOC


I do not need to interview the person selected for the weather group.  This
person will also support europe gas/power, and costs split as such between
organizations.

	From:  Jennifer Fraser                           12/21/2000 07:32 AM

To: Jeffrey A Shankman/HOU/ECT@ECT, Chris Mahoney/LON/ECT@ECT, Mike A
Roberts/HOU/ECT@ECT, Vince J Kaminski/HOU/ECT@ECT
cc: Stewart Peter/LON/ECT@ECT, Niamh Clarke/LON/ECT@ECT
Subject: Weather Person for London EGM

Folks:
We interviewed three candidates. One of the three (Tony Hamilton)  seems to
be a very good fit within the Enron culture and values.
Recommended Next Steps
Vince, Mike and Jeff interview Tony via video conference or avistar

Tony Hamilton Key Strengths
Quick thinker
Good teams skills
Driven - will be able to get the project off the ground quickly
Has a commercial attitude
Sees "the big picture"

Tony Hamilton is available for follow up interviews the first week of January.
Thanks
Jen


Will do.

 -----Original Message-----
From: 	Steffes, James D.
Sent:	Thursday, October 25, 2001 11:09 AM
To:	Mara, Susan; Dasovich, Jeff
Subject:	CPUC Questions on DA

Sue -

Received your voice mail.  Having AReM only file is ok with me.  Spoke with Lamar Frazier - Jeremy sounds worried.  Let's make sure that the contract question is vetted with internal and external lawyers - agree not to give CPUC any info.

Thanks,

Jim


Sue --

My take on this letter is that it is a little too "jumpy".  Any way to help make it a bit more to help Lynch do something different - maybe work from the AReM filing?

Jim

-----Original Message-----
From: Mara, Susan
Sent: Monday, August 13, 2001 1:20 PM
To: Steffes, James D.; Guerrero, Janel
Subject: FW: Final (?) DAC Angelides letter for you to approve ASAP

Here is the latest letter

-----Original Message-----
From: Fairchild, Tracy [mailto:tracy.fairchild@edelman.com]
Sent: Friday, August 10, 2001 1:31 PM
To: Allen, Stevan; arem@electric.com; Bob_Anderson@apses.com;
brbarkovich@earthlink.net; Britton McFetridge; cra@calretailers.com;
Dave Modisette; dennis.flatt@kp.org; dhunter@s-k-w.com; Dian Grueneich;
djsmith@s-k-w.com; Dominic.DiMare@calchamber.com; drothrock@cmta.net;
Fairchild, Tracy; gdoar@newpower.com; gharrison@calstate.edu;
hgovenar@govadv.com; jackson_gualco@gualcogroup.com; James Simonelli;
Janie Mollon; jerryl@abag.ca.gov; .gov@mailman.enron.com;
johnlatimer@capitoladvocacy.com; Julee Ball; ken_pietrelli@ocli.com;
kgough@calpine.com; kmccrea@sablaw.com; kmills@cfbf.com;
lhastings@cagrocers.com; Manuel, Erica; Margaret Catzen; mday@gmssr.com;
mmoretti@calhealth.org; nplotkin@rcsis.com; Paul Bauer;
randy_britt@robinsonsmay.com; richard.seguin@kp.org; RochmanM@spurr.org;
rrichter@calhealth.org; sgovenar@govadv.com; smccubbi@enron.com;
spahnn@hnks.com; sschleimer@calpine.com; vincent.stewart@ucop.edu;
vjw@ceert.org; Warner, Jami; wbooth@booth-law.com; wbrown@lhom.com;
wlarson@calstate.edu
Subject: Final (?) DAC Angelides letter for you to approve ASAP

DAC members:

I need to know as soon as possible if your organizations can sign on to the
attached letter--it's a shorter, streamlined version of what you saw before.
Dorothy Rothrock of CMTA boiled down the previous version to the core issues
that the majority of DAC members appear to support.  As before, please also
let me know if you cannot sign on to the letter--which will save us
pestering you with phone calls.  For those of you who aren't signing on to
any letter because of the language supporting SB 18xx--you don't have to
call me again because this version still contains that reference. I have
"starred" the organizations that have already signed on to this version.

The Edelman team is ready to roll as soon as we hear from you.  Thanks again
for acting quickly on this.

Tracy Fairchild
Senior Account Supervisor
Edelman Public Relations Worldwide
tracy.fairchild@edelman.com
(916) 442-2331
(916) 447-8509 (fax)

 <<DAC letter to Angelides 081001 short version.doc>>


Spoke with Jeff Gollomp who is trying to obtain internal approval for financial trading with one of the operating utilities (as opposed to using the agent).  He anticipates a corporate restructuring which may delay matters. He understands our allocation concerns.  He inquired about AEP as a comparable type of counterparty but we did not attempt to discuss (and were not at liberty to discuss).  Jeff asked that I wait to hear from him.  By copy of this entry, I am advising Ed Sacks of the status.
Click on this link to view the document in the Financial Trading Agreements database-->

<Embedded StdOleLink>


This is an automatic confirmation of the order you have placed using IT
Central.

Request Number:   ECTH-4R4QNS
Order For:               Mark Haedicke

1 x ( Standard Desktop     $1262 )
1 x ( Standard 15" Flat Panel     $865 ) Enron IT Purchasing


All,

Hong Kong Weather products will be launched on EOL Tuesday 14th November in
Hong Kong.

Current status is:
Legal:  GTC's are final and with David Minns / Mark Taylor for sign-off. This
sign-off should be completed by 10am Thursday (Houston time)   in order for
the GTC's to be loaded by Tuesday (Sydney time);
  Long Form descriptions are undergoing last adjustments today (DM), and will
be forwarded tonight for signoff;
Tax:  PWC has been asked for more specific advise on some issues. DM / HM
following up. These issues will not stop the launch;
Risk:  HK weather data is with RAC now for calculating sigma's. AF has USD
MTM weather book running;
Marketing: No marketing has been undertaken yet, and will not be prior to the
launch - partially pending PWC advice;
Technical: DN has set the products up in test environment. I will go through
these tomorrow with Dale;
Credit:  We are not soliciting any new counterparties for the launch;
Data:  CW and JZ have completed data cleaning and analysis. RY is pricing;

We will require signoff from Rudi, Tom, Mark & Jeff to transfer the products
to production, and we would like to do this before this weeks out. We want to
have products loaded and priced in production Monday afternoon (Sydney time).
If there are any other issues that I have missed, or incorrectly stated,
please reply by Friday morning (Sydney time) to allow time to address them.

Regards,
Paul


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Red rock capacity is 107,000
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)


Per Peter's voicemail, there is no standard ISDA form of parent guaranty.  I
have attached the standard Enron Corp. and Counterparty guaranties we request
under and ISDA Master, as Peter requested.


Steve,

Please, let  me know when you come back.
I have detected a tendency to implement different
approaches to valuation in the past.

To some extent, it reflects the absence of formal
rules for sign-off on the valuation techniques
which, in turn, reflects,  the turf wars and the desire by the
originators to control the outcomes.

Vince

stevestock@pagenetips.com on 01/19/2001 06:53:14 PM
To: vince.j.kaminski@enron.com
cc:
Subject: Valuation

Vince,

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

I'm hearing confusing messages about the way that the UK IT team and the UK
traders get their Valuation code aparently signed off by Research, while
here... You provide it for our guys to wrap up.

We have now a situation where the UK team are using a home grown Valuation
piece called DOVE, where results differ from those of the equivalent USA
portcalc.

I need to break through the pride barriers and the "not built here" syndrome,
and try to do the right thing, but I don't beleive I can do that without you
guidance.

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

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


Ok I asked gary to have you decide on Michael.  I think he is utility player that can fil several roles, but if your tEam won't need help, I'm not sure if I need him.
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)


Dale:  can you have someone review the transaction terms.  I'm not sure that
this is a swaption.  I'll also take a look.  I do not have a voice yet but I
am in the office.  Sara
---------------------- Forwarded by Sara Shackleton/HOU/ECT on 10/21/99 08:57
AM ---------------------------
Sean Black   10/20/99 11:29 AM

To: Sara Shackleton/HOU/ECT@ECT
cc: Brad Nebergall/HOU/ECT@ECT, Chris Holmes/HOU/ECT@ECT, Lucy
Ortiz/HOU/ECT@ECT, Dale Neuner/HOU/ECT@ECT, Randy Petersen/HOU/ECT@ECT, Tanya
Rohauer/HOU/ECT@ECT
Subject: Re: Spark Spread Confirmation

Sara,

When can we get a revised draft (credit issue outstanding) for the spark
spread confirmation; should not take very long to revise the terms and
conditions.

Brad and Chris will be in San Francisco meeting with the developers and GE
tomorrow.  I ran into Randy and he suggested we should meet with him early
next week to discuss the current deal structure.  I think we should be able
to resolve the credit issue and any other remaining issues with this document
at that time (if any remain) and we will want to send this document out
immeadiately thereafter.  Therefore, I suggest that we should clean up the
general terms and conditions in preparation of this so that we are in a
position to send this document out ASAP once any remaining issues are
resolved.

Many thanks for your cooperation in this matter.

---------------------- Forwarded by Sean Black/HOU/ECT on 10/20/99 11:16 AM
---------------------------
Sean Black   10/14/99 08:43 AM

To: Sara Shackleton/HOU/ECT@ECT
cc: Lucy Ortiz/HOU/ECT@ECT, Tanya Rohauer/HOU/ECT@ECT, Barton
Clark/HOU/ECT@ECT
Subject: Re: Spark Spread Confirmation

Sorry, I did not realize you were awaiting a response from me on this.

Our deal is with the subsidiary, not the parent.  So the name of the
counterparty should be Catalytica Combustion Systems, Inc., (CCSI) not
Catalytica.

Regarding the credit issue (Annex B; Credit and other special provisions), I
can't see how we are exposed to credit risk; we will not sign the XONON
Implementation Agreement with GE until we have received the $9.9 million
payment from CCSI.  If CCSI does not agree to return the spark spread
confirmation upon our request, as defined per the agreement, then CCSI is in
default of the agreement and the spark spread confirmation becomes worthless.

My main concern is with the general terms and conditions of the spark spread
confirmation because I know there are some errors in there that need to be
corrected:

There are three prices for the Gas Daily index referenced - low, high and
mid.  We need to define which curve we want to reference.
We need to change the name from Catalytica to Catalytica Combustion Systems,
Inc.
I think ECT should now be changed to Enron North America in the agreement,
but please advise on this
I need to provide the details for CCSI (e.g., name, title, payment account
information)

Also, if Lucy can review the document for any other errors that would be a
good idea.

I was looking to get these items corrected in anticipation of sending to CCSI
sometime around the end of next week.

Please feel to contact me with any other questions.

Sara Shackleton
10/11/99 05:23 PM
To: Sean Black/HOU/ECT@ECT, Randy Petersen/HOU/ECT@ECT
cc: Tanya Rohauer/HOU/ECT@ECT, Barton Clark/HOU/ECT@ECT
Subject: Spark Spread Confirmation

We are trying to revise the draft transaction confirmation per Sean's e-mail
of date.  The original confirm was prepared for "Catalytica, Inc." and the
credit included an additional event of default (cross-default) with
thresholds of $10 million for Catalytica and $50 million for Enron North
America.  Sean has requested that "Catalytica, Inc." be REPLACED with the sub
"Catalytica Combustion Systems".  Should the credit remain the same?

We are withholding release of this confirm pending a response from
underwriting.  Thanks.  Sara


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>FYI, I can't say whether this is true or accurate, but it's worth knowing
>about.
>>
>   I just wanted to pass
>along that I was approached yesterday afternoon
>around 3:30 PM in the Walmart
>parking lot at Forest Drive, by 2 males,
>asking what kind of perfume I was
>wearing. I didn't stop to answer them,
>and kept walking toward the store. At
>the time, I remembered this email.
>The men continued to stand between parked
>cars, I guess to wait for
>someone else to hit on.
>
>I stopped a lady
>going toward them, pointed at them, and told her about
>how I was sent an
>e-mail at work about someone walking up to you at the
>malls or in parking
>lots, and asking YOU to SNIFF PERFUME that they are
>selling at a cheap
>price!
>
>THIS IS NOT PERFUME-IT IS ETHER! YOU WILL PASS OUT, AND THEY WILL
>TAKE
>YOUR WALLET AND ALL OF YOUR VALUABLES.
>
>This is not a prank email;
>this is true. I was stopped in the Governor's
>Square parking lot today. A
>maroon van pulled up to me with two females in
>it. The female on the
>passenger side rolled down the window and asked me if
>I would be interested
>in "sniffing" some perfume they were selling. I
>remembered the e-mail that I
>had received, and said "NO." She asked me a
>second time, I kept on walking
>and said "NO" once again, and they pulled
>away. If it were not for this
>e-mail, I probably would have sniffed the
>"perfume."
>
>PASS THIS ALONG
>TO ALL YOUR WOMEN FRIENDS, AND PLEASE BE ALERT,
>AND
>AWARE!

_________________________________________________________________________
Get Your Private, Free E-mail from MSN Hotmail at http://www.hotmail.com.

Share information about yourself, create your own public profile at
http://profiles.msn.com.


here's a copy of the deal information.  I left a message with Bob Bowen as
the deal he added appears to be an Enron Canada deal.  The Enron
confirmation that was executed stated the counterparty as Enron Canada.  Our
lawyer is looking at the Assignment agrement.

 <<transact.doc>>

Kathy Bolan
Contracts Manager
PG&E Energy Trading, Canada Corporation
Phone: (403)261-3379  Fax: (403)262-8867
E-mail:  kathy.bolan@et.pge.com

PG&E Energy Trading and any other company referenced herein which uses the
PG&E name or logo are not the same company as Pacific Gas and Electric
Company, the California utility.  These companies are not regulated by the
California Public Utilities Commission, and customers do not have to buy
products from these companies in order to continue to receive quality
regulated services from the utility.
 - transact.doc


EEI's State Restructuring Service Web Site was just launched last month and
recorded over 11,000 hits in October.  We think that if you are at all
interested in what's going in restructuring states in response to
California's ongoing demand/supply imbalance, market problems in several
other states, you would be interested in EEI's new Web site.

The State Restructuring Service includes:

o  News and analyses of noteworthy legislative, regulatory and judicial
decisions as they occur
o  Implementation decisions in restructuring states
o  Noteworthy restructuring-related actions in other states, even if not of
comprehensive scope
o  E-mail notification of all noteworthy restructuring and related actions
o  E-mails are posted to the Web site's Action Alerts section within 24 hours
o  Site's Action Alerts are browsable and fully searchable
o  Hyperlinks to all Web posted source documents are provided
o  Policy overviews and analyses of all comprehensive restructuring laws and
regulatory decisions

The service includes e-mail notification of breaking restructuring actions,
as well as full access to the Web site.  For those who just need a heads up
about noteworthy state policy actions, the e-mail service is available as a
separate stand-alone service (free to members) or for half the price of the
full Web service.  We cover all aspects of restructuring the electric utility
industry and the implementation of retail electricity competition at the
state level from the comprehensive laws, to regulatory and judicial decisions.

Availability --------------------------->

The Web site is available to EEI members (free of charge) and to anyone else
for a fee at:
http://www.eei.org/7online/online/srs/

Please see the attached MS Rich Text Format file with more information about
how members can get an ID/Password, as well as the pricing and subscription
process for EEI Associate members and non-member organizations.

Please feel free to forward this e-mail (with attachment) to anyone you think
might be interested in staying informed of state restructuring policy
developments and researching existing state policies.

EEI member utilities wishing to have access should contact Lynn Hailes at:
lhailes@eei.org or 202/508-5624.

EEI Associates and non-members should review the attached file and direct
questions about subscribing to ekaleda@eei.org or call 202/508-5005.

Questions about the product and its content should go to Norman Jenks at:
njenks@eei.org or 202/508-5533.

Thank you for your interest in our State Restructuring E-Forums!

Norman Jenks and Lynn Hailes

 - SRSBrochureText.rtf


Susan, please send out a memo to those who should know that the forms have
been moved into a separate data bank.

Cordially,
Mary Cook
Enron North America Corp.
1400 Smith, 38th Floor, Legal
Houston, Texas   77002-7361
(713) 345-7732 (phone)
(713) 646-3490 (fax)
mary.cook@enron.com

	Tana Jones
	03/06/2001 10:38 AM

		 To: Edmund Cooper/LON/ECT@ECT
		 cc: Susan Bailey/HOU/ECT@ECT, (bcc: Mary Cook/HOU/ECT)
		 Subject: ISDA Forms

Sorry about that Edmund.  The forms have been moved out of the atty.fms bank
into their own subdirectory called "Swap Forms" (look it up just like a
person's named directory).   Let me know whether you can access that database
from London.  We had London set up to review the atty.fms bank only, I don't
know if you can access other subdirectories.

We have made some substantive revisions to the ISDA Schedule and Credit
Support Annex, so you might want to take a look.  If you can't do a
comparewrite from London, let me know and I'll email you the blacklined
forms.  We've also made changes to the forms of guarantees.  They are now
located in a document called Guaranty.doc in the Swap Forms/Current Forms
directory.

Also, the ISDA definitions have been changed since you've been gone, you may
already know that, but just in case...I thought I'd bring it up.


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RIGZONE DAILY NEWS -- TUESDAY, FEBRUARY 5, 2002
------------------------------------------------------------
Daily News from the worldwide upstream oil & gas industry
   to view the complete version, please go to:
   http://www.rigzone.com/newsletter_show.asp?n_id=215
------------------------------------------------------------


Lucy,

Here is the 2/2 rentroll.  The total does not equal the bank deposit.  Your
earlier response answered the questions for #3,11,15,20a, and 35.

But the deposit was $495 more than the rentroll adds up to.  If the answer to
this question lies in apartment 1,13, and 14, can you update this file and
send it back.

Now I am going to work on a rentroll for this Friday.  I will probably send
you some questions about the 2/9 rentroll.  Let's get this stuff clean today.

Phillip


Bryan,

Thanks for your question and the message.

I shall let you know as soon as we have a date for the
next real options seminar.

Vince

Bryan Reinecke@ENRON
07/13/2000 03:13 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Real Options Theory

Thank you very much for your detailed answer to my question on e-Speak.  I
find this area of study fascinating and would very much like to learn more.
It's interesting that you mentioned the Amram/Kulatilaka book because I'm
reading it right now!  I've talked with my director, Terry Galassini about
the possibility of taking your classes this fall and it looks good so far.
And I'd like to take you up on your offer of a set of binders on real options
and energy industry applications.
FYI, I'm a senior engineer in a facility planning group up here in Omaha
although I obtained an MBA from the University of Houston a few years back.
The concepts of risk/reward and all of the financial tools available to hedge
risk in financial markets have always tantalized me in their possible
parallels in the gas industry.   My recent personal discovery of this area of
real option valuation has further piqued my interest.

If you could, please add my name as a possible attendee to your fall
presentations.  Thanks again for your e-Speak dialogue.

Bryan Reinecke
(402) 398-7622


Hi Dawn:

The Research Group has moved around so much that we do not know
who to contact for accounting issues.  We need to reverse some money
back to one of the groups we are supporting, but do not know who to contact.
Do you have a clue?

We are also still using an SAP Corp. Co# and RC# because we do not
know where to go to get the new ENA #'s.

If you could help in this we would really appreciate it.

Thanks!

Shirley Crenshaw


PG&E called.  They want to set up a conference call to brief us on the gas piece of their POR that they'll be filing with FERC around November 30th.  They want to try to do it in the next couple of weeks. Please let me know if you're interested and please pass this along to anyone else who might be interested.  Thanks.

Best,
Jeff


My recollection is that the original ABB contract was assigned into TurboPark
without revisions/restatement/consent, or a break out contract.  I think EECC
had the typewriter on the original contract.   I quickly  looked in my
TurboPark binders, but didn't immediately find the ABB contract.

There was a breakout contract done for the CA Development deal, and Pete
Thompson (with AK out of DC) would have generated that document.  It wasn't
approved by the TurboPark team since it was entered into by the Enron LLC
post TurboPark.  I wasn't involved in the Fountain Valley transformer
contract, but my guess would be that Pete Thompson worked on it.  The footer
you described sounds like an AK footer.

Kay

From: Sheila Tweed@ECT on 03/27/2001 09:53 AM
To: John Schwartzenburg/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Kay Mann/Corp/Enron@Enron

Subject: Re: Fountain Valley Transformer Contract - FT Pierce -no approvals
yet

Kay Mann did the Abb transformer contract and I think that she used A&K--
Paul Pepitone?

	John Schwartzenburg@ENRON_DEVELOPMENT
	03/27/2001 09:42 AM

		 To: Sheila Tweed@ECT, Roseann Engeldorf/Enron@EnronXGate
		 cc: Barton Clark@ECT, Larry Bishop/NA/Enron@Enron, John G
Rigby@ENRON_DEVELOPMENT, James C Davis/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
davidlu@nepco.com
		 Subject: Fountain Valley Transformer Contract - FT Pierce -no approvals yet

The Fort Pierce crowd is pressuring for a form of transforner contract.Of
course it must be TurboPark compliant. Since we have just done a transformer
agreement with ABB for Fountain valley and its all signed off on by ABB,
TurboPark, Rose atal,  and the new project lenders, I would like to start
with that form and ot reinvent the wheel.

The ABB form that is in the TurboPark closing binders has a footer that reads
"WAS:83848.6". I assume that either A&K or LLGM had the typewriter. Sheila or
Roseann, I would appreciate it if one of you could get the firm that has the
document on their computers to send it out, with the attachments, so Bart and
the Ft Pierce team could get to work on it. We also have the hard copy
override letter with ABB that make the TurboPark corrections, and we can
either add these directly to the contract or leave it as an override letter.

Mr. Lund, can you check at NEPCO and see if anyone there has electronics on
this?

Next, for equipment that will be bought by Purchase Order instead of under a
contract, we need the TurboPark bits that go into the PO, since we will be
getting a lot of requests to issue PO's next. Roseann, could you send us what
you have in mind forthe PO's, or should we just take the override letter, add
it into the PO form, and let you see what we are doing?

Last, Jim Davis called to see where we are in the TurboPark cycle and if
issuing a PO or Contract (ie., making a commitment) is ok at this point. Jim,
thanks for making sure the loops are closed.  Bart gave me a voice mail that
we do not have a DASH approval or other authorization. Therefore I ask at
this point that Jim not issue any paper on the project until we get clearance
from Bart and Roseann.

Thanks

JWVS


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 04/27/2001
08:19 AM ---------------------------

<Mckinsey_Quarterly_NewsLetter@quantumecommerce.com> on 04/26/2001 08:45:38 PM
Please respond to <Mckinsey_Quarterly_NewsLetter@mckinsey.com>
To: <vkamins@enron.com>
cc:
Subject: The McKinsey Quarterly Newsletter---April 2001

*****************************************************
The McKinsey Quarterly Newsletter

April 2001
http://www.mckinseyquarterly.com

******************************************************

==========On The McKinsey Quarterly Web site this month==========

Valuing dot-coms after the fall
The Internet roller coaster may rank as the market's most dramatic
upheaval over the past 20 years, but it certainly hasn't been the only
one. Remember biotech? Real estate? Leveraged buyouts? What about Japan
Incorporated? Sooner or later, investment values always revert to a
fundamental level based on cash flows. Get used to it.
http://mckinseyquarterly.com/login.asp?ArtID=1015

Mobile portals mobilize for scale
As investors have cooled to new ventures, survival is now at the top of
the agenda for mobile portals. Whether a portal stays alive will depend on
its ability to offer accessibility, awareness, and the right services. The
rest of the struggle---rapid expansion to ensure long-term survival and,
eventually, global dominion---will come down to guts and determination.
http://mckinseyquarterly.com/login.asp?ArtID=1022

The innovative organization
The idea that new businesses prosper best when separated from their
corporate parents has now become conventional wisdom. Although new
ventures do need space to develop, strict separation can prevent them from
obtaining invaluable resources and rob their parents of the vitality they
can generate. The solution? A balance of partitioning and integration.
http://mckinseyquarterly.com/login.asp?ArtID=1017

Programmers abroad: A primer on offshore software development
More and more companies are going offshore to develop and maintain their
software. The reason is simple: this approach saves time and money.
Without discipline in managing offshore relationships, however, a company
not only can squander the cost and time savings it had hoped to gain but
also may face late deliveries, escalating costs, mismatches between
expectations and deliverables, and even outright failure.
http://mckinseyquarterly.com/login.asp?ArtID=1018

+++++++++++++++++Also on the site this month++++++++++++

The alchemy of LBOs
http://mckinseyquarterly.com/login.asp?ArtID=1021

Late edition: Another chance for newspapers on the Web
http://mckinseyquarterly.com/login.asp?ArtID=1024

Unlocking the value in Big Pharma
http://mckinseyquarterly.com/login.asp?ArtID=1019

Magazines' home companion
http://mckinseyquarterly.com/login.asp?ArtID=1016

A performance index for B2B marketplaces---a mckinseyquarterly.com
exclusive
http://mckinseyquarterly.com/login.asp?url=photo_essay/y2001/home.asp

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please forward this e-mail message to them!

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ENA
Thanks Sara


disregard the harrasment thing,  i see it is for ena only.

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


Hi there,

I thought I'd check back to see where we are on the Delta (Salmon) break out
contract, now that we know that the stabilizers should be included.  How's it
looking?

Thanks,

Kay


(See attached file: HPLN0427.xls)

 - HPLN0427.xls


Following is the model which calculates the new IT tolls for TCPL under the
proposed marginal fuel cost calculation.  Geoff, you may want to look at this
new sheet, I had my tolls right but my percentages wrong for the points.


You owe me $10 for lunch. I know where you live.

Dorland


Getting added to global distribution lists is now an eRequest under Applications -> Global Messaging.   Please look at the eRequest system and if you need help please give us a call.

 -----Original Message-----
From: 	Lokay, Michelle
Sent:	Wednesday, February 20, 2002 9:59 AM
To:	Rosenbohm, Tara
Subject:	Distribution list

Please add me to the "DL-GA-all_domestic" distribution list.  Thanks.


I suggest Chris goes w/ an AT tire next time.

-----Original Message-----
From: Brian Constantine [mailto:brianc@saltgrass.com]
Sent: Monday, October 22, 2001 12:10 PM
To: Erik Wollam; knipe3@msn.com; chet_fenner@bmc.com;
Joe.Parks@enron.com
Subject: RE: Deer Lease Report

THAT SUCKS...Why the hell arent they working? Doesn't make any sense.
They were all new batteries, right?

-----Original Message-----
From: Erik Wollam [mailto:erwollam@hotmail.com]
Sent: Monday, October 22, 2001 11:43 AM
To: knipe3@msn.com; chet_fenner@bmc.com; Joe.Parks@enron.com; Brian
Constantine
Subject: Deer Lease Report

Talked to Chris and Mertz this am.

Mertz saw some decent deer today. Still hot out there

McComb had a shitty 24 hours. Scrambler out of gas wanted to blam on us.
I
pointed out we used it for about hlaf an hour, only. then he got one
flat
tire in his suburban.
three feeders are down, one was booger which should have been repaired.
Looks like it should work, but it has fed three times since sept. Bone
yard
not working. Hideout not working. Those may be battery issues. the other
7
stands are working and he filled them up.

his friends shot lots of doves at the trailer sun evening. Zander said
his
bother shot a bunch a few weeks ago while picking stuff off their lease.

Chris said they were swarming around the trailer at sunset. Chris hunted

lone star brush pile sun evening, missed a spike and a turkey. saw a
good
deer walking out.

he got another flat tire 13 miles away from llano at 9:30 pm. sherriff
was
the only one he could get to help. a tow truck towed his truck back to
austin. he had his daughter with him. he got home at 1 am. he says his
wife
may not let him go back.

doubtful keith will get out there next weekend to fix those feeders.
we'll
have to fix them up on openning weekend.

e.

_________________________________________________________________
Get your FREE download of MSN Explorer at
http://explorer.msn.com/intl.asp


At the request of Dan Diamond, I am attaching our proposed form of Broker
Electronic Transaction Agreement and Fee Agreement.   If the enclosed meets
with your approval, please execute the agreements and return them to me via
fax no. (713) 646-3490.  I will then have them executed by Enron.  If you
have any comments or questions please call Mark Greenberg, Senior Counsel, at
(713) 345-8897 or me at (713) 853-3399.  We look forward to hearing from you.


Hi Charlotte,

I'm not sure what we are doing at Thanksgiving, but at the most we might go
to Palacios, which means that we would be gone no  more than Thursday and
maybe Friday night.  I haven't talked to Paige about her schedule yet, but I
know we need to get organized. Also, I think Michael is out of school that
Wednesday.  Again, I need to check.  More to come.

As for tomorrow (BOO), we forgot to watch for sundown.  I know, that is hard
to believe.  We will update tomorrow!

Kay

"Brashear, Charlotte" <cbrashear@velaw.com> on 10/30/2000 07:59:12 AM
To: "Mann Kay (E-mail)" <kmann@enron.com>
cc: "Mann Neil (E-mail)" <nmann@erac.com>

Subject: Michael

   As usual, Michael was a delight.  We want to see Beauty and the
Beast on Ice.  It's on November 22-26.  Let me know if the family is going
to be out of town and if not, what date would be best.  I assume Michael is
out of school Thursday-Sunday, but don't know.  I would love to get him
interested in things like this.

   We passed U. of H., and I told him that was where Mom went to school
to learn to be a lawyer.  He informed me that he was not going to be a
lawyer.  When I asked him what he did want to be, he said, "a boss so I can
tell everybody what to do."  I explained that you could not be a boss
directly out of college, but he was firm.  That's what he wants.

   He's funny watching videos.  I would try to sneak in reading a book
or looking over something, but he was emphatic.  He wanted me to "watch the
video at the same time he did so we could talk about things as they
happened."

   Let me know about Beauty and the Beast.  See you tonight to trick or
treat.
          ++++++CONFIDENTIALITY NOTICE+++++
The information in this email may be confidential and/or privileged.  This
email is intended to be reviewed by only the individual or organization
named above.  If you are not the intended recipient or an authorized
representative of the intended recipient, you are hereby notified that any
review, dissemination or copying of this email and its attachments, if any,
or the information contained herein is prohibited.  If you have received
this email in error, please immediately notify the sender by return email
and delete this email from your system.  Thank You


We've got two exciting eSpeak sessions for you this week...

First, the iBuyit and iPayit teams want to hear from you:

John Gillespie, Global Strategic Sourcing senior director, and members of the iBuyit eProcurement team and the iPayit Payables team, will be hosting an eSpeak session Tuesday, Sept. 18 at 10 a.m. Houston time to answer all your questions about the programs.

Can't make the live event?  No worries.  Go to  eSpeak (http://ethink.enron.com/eSpeak/exec/default.asp) now and submit your question.  John will try to answer it during his event and you can read the transcript later.

Next, we'll head over to London for a chat with the head of Enron Europe:

John Sherriff, Enron Europe president & CEO, will be hosting an "open mike" eSpeak session Wednesday, Sept. 19 at 4 p.m. London time (10 a.m. Houston time) to answer any questions you have about Enron Europe's activities.

Can't make the live event?  No worries.  Go to  eSpeak (http://ethink.enron.com/eSpeak/exec/default.asp) now and submit your question.  John will try to answer it during his event and you can read the transcript later.

<Embedded Picture (Metafile)>


I've made a rough stab at an exhibit to capture the changes which are
necessary for the ABB contract.  Please comment on the attached, suggest
changes, etc.

I will add a rep. or condition about receiving all the change orders, etc,

FYI, I will be working on this over the weekend, should you care to comment.

Kay


_________________________________________________________________
Get your FREE download of MSN Explorer at http://explorer.msn.com/intl.asp

 - 10-23 1500 Report.xls


Agreed. The generator motion is very complete so it would seem to me that our pleading in support can be very short.

GAC

-----Original Message-----
From: Mara, Susan
Sent: Thursday, September 13, 2001 10:52 AM
To: Alvarez, Ray; 'Dan Watkiss'
Cc: 'Gfergus@brobeck.com'; Comnes, Alan; Walton, Steve; Lawner, Leslie;
Cantrell, Rebecca W.; Fulton, Donna; Dasovich, Jeff; Nicolay, Christi
L.; Steffes, James D.; 'jalexander@gibbs-bruns.com'; Allen, Phillip K.;
Noske, Linda J.; Perrino, Dave; Black, Don; Frank, Robert; Miller,
Stephanie; Tycholiz, Barry; Novosel, Sarah; Thome, Jennifer; Hall, Steve
C. (Legal); Lindberg, Susan
Subject: RE: Marketer Support of Generator Motion on Credit Issues

We should definitely support it.  We have the very same issues with the ISO.

-----Original Message-----
From: Alvarez, Ray
Sent: Thursday, September 13, 2001 10:27 AM
To: 'Dan Watkiss'
Cc: Gfergus@brobeck.com; Comnes, Alan; Walton, Steve; Mara, Susan;
Lawner, Leslie; Cantrell, Rebecca W.; Fulton, Donna; Dasovich, Jeff;
Nicolay, Christi L.; Steffes, James D.; 'jalexander@gibbs-bruns.com';
Allen, Phillip K.; Noske, Linda J.; Perrino, Dave; Black, Don; Frank,
Robert; Miller, Stephanie; Tycholiz, Barry; Novosel, Sarah; Thome,
Jennifer; Hall, Steve C. (Legal); Lindberg, Susan
Subject: RE: Marketer Support of Generator Motion on Credit Issues

Dan, I am interested.  I know that Sue Mara spoke with Ron on this subject also, although I was not on the call.  The matter was not discussed on our Western Wholesale call this morning either, since I did not become aware of it till later.  I would therefore like to receive input from Sue and others on our team about this, getting final sign off to proceed from Linda Robertson and Jim Steffes.  If we elect to proceed, it would be appropriate to bill all participating marketers in equal shares.  Thanks.  Ray

-----Original Message-----
From: Dan Watkiss [mailto:dwatkiss@bracepatt.com]
Sent: Thursday, September 13, 2001 12:42 PM
To: Alvarez, Ray
Cc: Gfergus@brobeck.com
Subject: Fwd: Marketer Support of Generator Motion on Credit Issues

What do you think?

Jeffrey D. (Dan) Watkiss
Bracewell & Patterson, LLP
2000 K St., N.W.
Suite 500
Washington, D.C.   20006-1872
(202) 828-5851
dwatkiss@bracepatt.con
jdwatkiss@aol.com

-----Original Message-----
From: Ronald Carroll [mailto:rcarroll@bracepatt.com]
Sent: Thursday, September 13, 2001 11:09 AM
To: callen@akingump.com; alaw@avistaenergy.com;
cgoligoski@avistaenergy.com; ddickson@avistaenergy.com;
nolan.steiner@avistaenergy.com; hhs@ballardspahr.com;
haskell@bh-law.com; biggsbg@BP.com; marzmj@BP.com; Andrea Settanni;
Deanna King; Dan Watkiss; Jacqueline Java; Kimberly Curry; Paul Fox;
Tracey Bradley; gfergus@brobeck.com; phillip_fantle@cargill.com;
karen.cottrell@constellation.com; lisa.decker@constellation.com;
randall.osteen@constellation.com; breilley@coral-energy.com;
mmilner@coral-energy.com; gmatthews@edisonmission.com;
Greg.jones@elpaso.com; rick.warman@elpaso.com; Comnes, Alan; Perrino,
Dave; jsteffe@enron.com; Robertson, Linda; Alvarez, Ray;
rfrank@enron.com; smara@enron.com; snovose@enron.com; eperrigo@epsa.org;
jsimon@epsa.org; Jthompson@idacorpenergy.com; jchristian@jonesday.com;
kjmcintyre@jonesday.com; rwaters@jonesday.com; CANDREAS@LLGM.COM;
DDANNER@LLGM.COM; LACKER@LLGM.COM; SBEHREND@LLGM.COM;
david.tewksbury@lw.com; kirvin@mofo.com; kzeitlin@mofo.com;
vwei@mofo.com; fnorton@morganlewis.com; jmcgrane@morganlewis.com;
kacurry@msn.com; ckrupka@mwe.com; myuffee@mwe.com; ppantano@mwe.com;
harry.singh@neg.pge.com; kathleen.stallings@neg.pge.com;
david.facey@powerex.com; doug.LITTLE@powerex.com;
mike.macdougall@powerex.com; dmperlman@powersrc.com;
lisa.decker@powersrc.com; jadillon@pplweb.com; donk@prestongates.com;
JOHNL@prestongates.com; sandraR@prestongates.com; mphilips@pwrteam.com;
mphillips@pwrteam.com; rbeitler@sempratrading.com; kbarron@skadden.com;
rejosephson@stoel.com; sjkaplan@stoel.com; ayudkowsky@stroock.com;
tabors@tca-us.com; achau@tractebelpowerinc.com;
amie.colby@troutmansanders.com; antoine.cobb@troutmansanders.com;
james.beh@troutmansanders.com; sangle@velaw.com; cfr@vnf.com;
mam@vnf.com
Subject: Marketer Support of Generator Motion on Credit Issues

Cheryl Ryan has raised the suggestion of a joint answer by the Marketer Group in support of the Generators' recent motion on credit issues.  If so, this would need to be done asap.  Please let me know if you are interested in joining in such a pleading.

Thanks.  Ron


Scott--
Something for you to consider:
If the transport people are to have their own books, my belief is that the
curve setting used for the transport values ought to be as unbiased as
possible.  This means using as few "formula based" curves as possible and as
many Gas Daily publication postings as possible.  I'm not sure how you or
your traders feel about the following postings, (how realistic they are), but
I think they bear watching to see if they could be used for calculating
transport p&l.  In Gas Daily, under Citygate, Pooling Point Prices, there are
Mid Atlantic Citygates postings for both CNG and Columbia Gas.  These could
potentially be used for CNG North & South Citygates and TCO citygates.  The
only thing I have to confirm is how these would load since there is no index
posted each day--it is a range of prices instead.

Historically TCO and CNG citygate postings haven't been much of an issue
because we haven't held much transport on CNG and TCO, but with the CES
business in our portfolio, the times have changed.  Currently we are using
"formula based" curves set by the traders to calculate CNG and TCO transport
p&l, and there sure seems to be a huge difference between the postings and
how we are marking the curves.  For example, today's Gas Daily postings
compared to our curve markings are as follows:
GAS DAILY   GAS DAILY SPREAD   SPREADS per TRADERS CURVES
TCO pool $2.985   $1.565     $.10
TCO citygate $4.55

CNG North $3.39   $  .585     $.16
CNG South $3.305   $  .670     $.16~
CNG Citygate $3.975

Obviously there are huge differences, so someone must be wrong.  There are
two solutions that I see.  One is to switch to the Gas Daily posting, which
in my mind is preferable if you believe the postings are accurate; the other
solution is to have the traders change their curves more often to more
closely reflect the actual spreads in the marketplace.  That's up to you.
Obviously if we believe the postings are completely off base and our spreads
are more accurate, then nothing needs to be done, but if you want to know
what you're really making on your transport (and you now have a lot of it),
we need to focus on it being accurate.

Anyway, let me know what you decide and I'll either forget about it or work
on getting the Gas Daily postings pulled into the calculations.

---------------------- Forwarded by Colleen Sullivan/HOU/ECT on 02/03/2000
08:29 AM ---------------------------

	From:  David Oliver                           02/02/2000 12:56 PM

To: Colleen Sullivan/HOU/ECT@ECT, Mark Friedman/HOU/ECT@ECT
cc:
Subject: Transport formula settles

Colleen,

Mark wanted me to let you know where a few city gate points are settling
daily:

CNG North City Gate = GD CNG North +.16
CNG South City Gate = Settles at what the intra-month trader sets their
intra-month curve at.
TECO Citygate = GD CGT/App +.10

Please note that CNG North City and TECO City settle prices come in at a one
day lag.  After we receive gas daily settles, we reload prices for any
derived curves.
If you have any questions please let me know.

David
x3-4231


Okay gang, it's time to rally the troops.  Evidently last week wasn't good
for any of us to get together at our local watering hole (a.k.a Little
Woodrow's)...but, I'm hoping the story is a little different this week.  Our
own Nick Stephan is back in H-town for the week and has made a special
request for a full-fledged "Steak Night" (that means good attendance).  Not
that I ever need an excuse to enjoy good company, steak, beer, etc. at LW's,
but if I did I could think of few better reasons than a visiting ex-pat.
Besides, given the absolutely beautiful weather we are currently enjoying,
the picnic tables and deck are beckoning.  I'm going to set a tentative
meeting time of 7:30 p.m. this Wednesday...get back to me at your convenience
and let me know if we should stick with that time or not.  Hope everyone had
a relaxing weekend and is having a good Monday (isn't that an oxymoron?).

Susan

"When I read about the evils of drinking, I gave up reading."

                            - Henny Youngman


http://oasis.caiso.com/

file:///W|/ISO_SI/ISOLOCATION.HTML


Will do.

 -----Original Message-----
From: 	Kitchen, Louise
Sent:	Thursday, January 24, 2002 7:55 AM
To:	Forster, David
Subject:	get on the phone call please

Louise Kitchen
Chief Operating Officer
Enron Americas
Tel:  713 853 3488
Fax: 713 646 2308


Teco Tap       10.000 / Enron ; 60.000 / HPL IFERC

LS HPL LSK IC       30.000/ Enron


<<List of Outstanding Issues for Completion of World Hunger Form
Agreement.DOC>>

 Pursuant to Kay Mann's request, attached please find a memo
summarizing the outstanding issues/tasks for completion of the World
Hunger/GE Turbine Form Agreement.
 - List of Outstanding Issues for Completion of World Hunger Form
Agreement.DOC


Notice to Members No. 01-167
May 16, 2001

To:
All NYMEX Division Members
All COMEX Division Members

From:
Neal Wolkoff, Executive Vice President

Re:
-Changes to Audit Trail Summary Fine Structure-NYMEX & COMEX Divisions
-Incorporation of Spreads into One Minute Trade Time Submission for NYMEX

Modification of &Clear-out Period8

The Board of Directors has approved modifications to the fine structure for
one-minute trade time submission for both NYMEX and COMEX divisions.
Presently members falling below 80% timely submission per month are issued
escalating warning letters and fines unless and until they clear out their
record by being in compliance for six consecutive months.  After six months,
the member returns to a &warning letter8 level.  Effective immediately, this
&clear-out period8 is reduced from six months to four months.  One-minute
trade timing statistics for the month ending April 30, 2001 will reflect this
modification.

Implementation of One-Minute Trade-Time Classes

The Board also accepted the recommendation of the Compliance Review Committee
and Floor Committee to adopt a training program for members facing one-minute
trade time fines on the NYMEX division.  The purpose of the program is to
improve Exchange trade submission timing through member education by
identifying individual issues, tailoring individual solutions and statistical
follow-up.  Training will be conducted at dates to be announced during June,
July and August 2001 by a team comprised of Committee Members and Compliance
Staff with the assistance of the Training and Education Committee.

As incentive, any member attending the class will be allowed to &do over8 up
to two subsequent months in which their trade time rates are between 70% and
79%.  The member will still have to complete four violation free months
before his record is &cleared out8 but he may take up to six months to do
so.  Members may take one class per year.

Audit Trail Classes

? Purpose*to reduce number of members falling below the 80% standard for pit
card submission and to facilitate the return of members to a &warning letter8
level.
? Members who have received a warning letter or a fine for pit card
violations may:
 Attend an audit trail class, to be offered in June, July and August of 2001,
with future dates to be determined by the Floor Committee/Compliance Review
Committee.  The class will be an intensive discussion of pit card problems
and pitfalls.  Materials will focus on how the audit trail works and
successful strategies for achieving a passing grade.  Members attending class
will be required to analyze their own trading style in light of the material
presented and pinpoint areas which they need to improve.  Members will also
be required to outline a plan of attack to address raising their pit card
performance rates.  Each plan will be discussed with the group and members
will receive feedback from Floor and Compliance Review Committee Members, and
Compliance and Floor Department Staff.  Members attending classes are
strongly encouraged to bring their clerks with them!
 Upon completion of the class, members will be allowed to &do over8 up to two
subsequent months in which they received the warning or fine for substandard
trade time rates between 70% and 79%, on their way to achieving four months
clear.  No fine or warning letter will be issued for a &do over8 month but
the month will not count as a passing month.  A member who falls below 70%
will receive a fine or warning letter.
 The benefit to the member will be that the month that would have counted as
a failing month will not count at all, as long as the member achieved at
least a 70% rate.  Members still need four problem free months to return to a
warning letter stage from a fine stage.  A member who has been problem free
for 3 months would benefit by &doing over8 a fourth (and possibly a fifth)
failing month, thus having the opportunity to return to a warning letter
phase despite intervening failing months.  A member who falls below 70%
before achieving four problem free months will receive a fine or a warning
letter, as appropriate.  The member can still use a second &do over8 month as
long as he meets all criteria.
 Staff will follow up with members attending the classes.  Members will
receive a breakdown of their most recent audit trail fine.  They will also be
invited to discuss their percentages with staff one-on-one.  Further, staff
will supply daily or weekly statistics to any member by e-mail upon request.
 Members are eligible for only one class per year.  A member must take a
class before being given the benefits listed herein.  Classes will be offered
in the third week of the months listed, at a date to be announced, and the
program will apply to the next full month of audit trail results.  The
Compliance Review Committee and the Floor Committee will evaluate the results
of this program before deciding whether to extend this program into 2002.

Incorporation of Spreads into One-Minute
Trade Time &Pit Card8 Statistics for NYMEX Division

Present one-minute trade time &pit card8 statistics do not include spread
times.  During the most recent NYMEX Rule Enforcement Review--the CFTC audit
of the Exchange,s Compliance programs and procedures--the CFTC recommended
that the NYMEX Division incorporate spread trades into the one-minute time
statistics.  The CFTC has made this recommendation in the past and the
Exchange has committed to respond to it. The COMEX Division one-minute trade
time statistics already include spreads.

NYMEX Division Members should note that intra-commodity spread trades will be
incorporated into pit card one-minute trade time accuracy rates after a
&phase in8 process of approximately 90 days.  In order to avoid substandard
percentages once spreads are incorporated, members must make sure that their
spread prints are price reported in order to ensure that the Price Change
Register for spreads is accurate.  If a spread print is not reported, you
will not be credited with timely submission of pit cards, even if you throw
the trade into the pit in a timely manner.

Pit card statistics for outright trades are presently posted on the NYMEX
floor on a weekly basis.  Compliance Staff will continue to post statistics
for outright trades and will additionally post the statistics for spread
trades.  These spread trade statistics are for information only so that you
can assess your pit card submission rate in advance of incorporation of
spreads in the one-minute trade time submission percentages.  For information
purposes, the seller of the spread is considered to be the party who sells
the premium month.  In the case where the spread trades flat, the seller is
the party who sells the nearby month.

If you have any questions about this information, please call Nancy Minett,
Compliance Counsel, at (212) 299-2940, or Thomas LaSala, Vice President
Compliance, at (212) 299-2897.

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

"http://208.206.41.61/email/email_log.cfm?useremail=tana.jones@enron.com&refdo
c=(01-167)"

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


I assume that Jeff D.  will give us his reactions but in the mean time here's
the proposal:

December 1, 2000

Honorable James Hoecker

Chairman

Federal Energy Regulatory Commission

888 First Street, N.E.

Washington, D.C. 20426

Dear Chairman Hoecker:

I told you on November 14 in San Diego that, by December 1, I would respond
to your plan with my suggestions to protect the interests of the people and
businesses of California by providing reliable electricity supplies at the
lowest reasonable cost. Obviously, a complete plan by the State of California
must await your review of my suggested changes to your proposed order, and
final action on that order on December 13. This letter outlines the first
steps toward a plan that my administration is developing based on extensive,
ongoing discussions with legislative leaders, consumers, business, utilities,
generators, environmentalists, labor, agricultural interests and other
California stakeholders.

This emerging plan will indicate to you that I am prepared to act with the
concurrence of the Legislature in California to fulfill our obligations to
assure reliable service at reasonable costs to the consumer.

The free market applied to electricity can work, but only if market
conditions allow for real competition, and if all parties act responsibly.
The Federal Energy Regulatory Commission (FERC) has found that the wholesale
market in California is dysfunctional and that the wholesale prices charged
by generators in your jurisdiction are unjust and unreasonable.

For that reason, I renew my call for the FERC to undertake the actions that
are critical -- and clearly within your jurisdiction -- to order retroactive
refunds to the consumers who have been harmed this year, and to establish
hard price and bid caps that will protect consumers until the energy
marketplace becomes truly competitive. I do not believe that your proposed
$150/MW clearing price limit will provide any real protection. I again ask
you to impose real price and bid caps in the $100/MW range on a transitional
basis over the next 36 months.

If you do your job of protecting consumers by rectifying the wholesale
markets, the steps I have to take can be transitional in nature and limited
in scope. I cannot in good conscience, however, forego any measure that would
serve to protect the people of California until I am satisfied that the
sellers in the wholesale markets will not victimize Californians again.

Since our meeting in San Diego, several things have occurred which influence
my current thinking.

On November 20, 2000 the California Energy Commission (CEC) published the
results of a detailed bottom-up study of available electricity supply for
2001. It shows that -- taking into account expected load growth, firm and
dynamically scheduled imports, and new supply already under construction or
under contract -- California should be able to avoid emergencies if supplies
are properly managed and scheduled. This presumes, of course, no gaming or
withholding by sellers in wholesale markets and an absence of panic buying.
But the CEC study also shows that supplies are sufficiently tight that market
power will exist and will need to be mitigated during periods of high demand.
The same opportunity for wholesale price gouging through the exercise of
market power and withholding that existed in summer 2000 will exist in 2001.
You must take decisive action to preclude such behavior.

During the week of November 13-19, while you and regulatory commissioners
from around the country were in San Diego, California was subjected to
several Stage 2 Alerts, reflecting severe shortages of generation, even
though these are the lowest load months of the year. Prices were
astronomical. More than 12,000 megawatts of generation were off-line at the
same time, including over 5,000 megawatts for "unscheduled outages." I will
recommend steps to assure that existing resources in California are available
to meet California,s local energy needs, and that information and the
authority necessary to prevent a recurrence of such events are available to
state and local officials.

On November 22 the California Public Utilities Commission (CPUC) and
Electricity Oversight Board (EOB) filed comments with you that summarize the
current status of their ongoing investigations. They confirm the conclusions
of the independent market monitors that California has been victimized by the
exercise of market power by merchant generators and marketers during summer
and fall 2000. The state agencies have been hampered in their investigations
by the refusal of merchant generators to provide information that will both
assist in the understanding of last summer,s prices and in the fashioning of
remedies to assure that we are not victimized again. I urge you to compel the
necessary disclosure of information to complete these investigations.

On November 21 the CPUC issued an Environmental Impact Report (EIR) on the
proposal by PG&E to move its hydroelectric facilities out of the regulated
utility. The EIR concludes that such a project would cause significant
unmitigated harm to the environment and recommends retention as the preferred
alternative. This suggests that California,s course of generation divestiture
by utilities may be slowed or stopped.

With these events as background, I want to describe the steps I have taken
and plan to take to begin to address the energy problems in California.

Increase Supply and Expand Infrastructure

During the 10 years preceding my administration, virtually no power plants
were built in California.

Since April 1999, six power plants representing 4,700 MW of new generation
have been approved by the CEC. Five of these plants are under construction
and the sixth will begin construction no later than April 2001. Twenty more
applicants have completed pre-filing and have active applications under
review by the commission staff. Eleven more applications are in the
pre-filing stage.

This represents a significant change in policy and performance and responds
to the fact that we must increase supply as rapidly as possible without
abrogating our commitment to state and federal public health and
environmental protection.

Much has been made about the difficulty of siting and permitting generation
in California. With enactment of AB 970 and the creation of the Governor,s
Clean Energy Green Team this September, California has aggressively committed
itself to continue to accelerate the siting and permitting of generation and
to coordinate local, state and federal government agency review and action.

Federal and state air quality requirements present unique challenges to the
construction and operation of new power plants. Through the Green Team, we
are developing new and creative approaches to meet these challenges, working
with local air quality districts, the California Air Resources Board and the
United States Environmental Protection Agency. These might, for example,
expand upon the case of the proposed Otay Mesa power plant, where mobile
emissions credits are being used to offset stationary source emissions that
will be generated by the new facility. If necessary, I will seek legislation
to enable these new approaches.

I am also calling on the CPUC to aggressively reduce barriers and to
otherwise encourage the locating of distributed generation and co-generation
where it is viable, cost effective and environmentally sound. The CPUC has
already initiated action that will provide a forum for expediting
certificates for transmission facilities, including environmental review.

Finally, I believe it is important to assure that all supplies of electricity
are available when emergency conditions exist, to avoid interruptions such as
those experienced last summer and as recently as last week. Suggestions we
are considering for achieving this include new means of coordinating
power-plant maintenance and operations activities.

Forward Contracting by Utilities

Many parties, including the FERC, have recommended expanding the use of
forward contracting by the utilities including multi-year bi-lateral
contracts as a way of reducing exposure to volatile spot market prices. The
contracts, as a part of a larger utility energy portfolio, represent an
important tool to moderate price volatility and ensure reliability. I am
asking the CPUC to expeditiously develop benchmarks to assure the
reasonableness of these contracts without unfairly "second guessing" these
decisions in later years.

This process should be in place early in 2001 to provide adequate opportunity
for contracts to be negotiated and in place before Summer 2001.

Coupled with the forward contracting issue is the question of the obligation
of utilities to buy and sell all of their electricity through the California
Power Exchange (PX). This issue requires careful consideration since these
transactions through the PX are currently subject to full disclosure, and
safeguards are in place to assure delivery. These protections for consumers
and business must not be lost.

Among the suggestions that have been made to ensure that utilities have a
cost-effective portfolio of energy is the proposal that utilities retain
their existing generation, as was recommended in the CPUC's environmental
impact report regarding PG&E's hydroelectric facilities. There is growing
consensus around this matter.

I would hope that the paramount objective in this series of regulatory
decisions will be the protection of the interests of consumers.

Invigorating the Demand Side

Conservation and efficiency are the cornerstones of California,s energy
future.

Under my Executive Order, the State of California has achieved more than 180
MW of load reduction earlier this year during Stage 2 alerts, and is moving
quickly to add another 250 MW of demand reduction for summer 2001. The
federal government is following suit for federal facilities. The state and
federal governments should set an example for similar voluntary load
reduction initiatives in the private sector.

I was pleased to work with the California Grocers Association this summer to
develop a voluntary 10 percent demand reduction program during peak hours for
more than 2,000 groceries statewide. This program must be duplicated in other
areas where feasible and the business community in California has pledged to
work cooperatively toward that end.

I am calling on the CPUC to expedite its investigation of the state,s demand
reduction programs for commercial and industrial users, including the
interruptible programs. Those that are successful should be expanded. Those
that require change should be modified. And new opportunities should be
developed to reduce and shift loads during peak hours and short supply. These
programs must be in place no later than March 2001, to provide adequate
opportunity for private sector planning and participation.

I am also calling on the CPUC and CEC to coordinate efforts to demonstrate
and implement programs which provide real-time price signals and
energy-reduction systems to sophisticated commercial electricity users, and
to recommend a process for voluntary participation by consumers and small
businesses.

In September, I signed historic urgency legislation that provides $50 million
for demand reduction programs that can be implemented by Summer 2001. I also
signed legislation that provides approximately $500 million annually for the
next 10 years for energy efficiency, research and development and renewable
resource support. The CPUC and CEC are aggressively pursuing innovative
demand reduction programs using these funds.

Institutional Reform

As I testified at the FERC hearing on November 14, I agree that the
stakeholder boards of the California Independent System Operator (CAISO) and
California Power Exchange present inherent conflicts of interest for their
members and must be replaced. The composition of these boards is specified by
state law, both as to size and as to qualifications for directors.

I will propose legislation to replace the stakeholder boards with independent
boards that are accountable for their actions, and that will consider both
the need to assure reliability and the most economic method to do so.

I intend to move quickly on this aspect of the problem. Your concurrence in
this effort is extremely important. It will little serve the consumers,
utilities, merchant generators or other parties to become embroiled in
litigation over exactly what powers Congress conferred on the FERC in 1935,
or what traditional state powers, if any, Congress meant to circumscribe or
override.

Recognizing that there may be a need for more extensive reconstitution of
these entities, as some have suggested, I do not intend to let the status quo
continue while those debates are carried on. California will alter the
composition and membership of the boards so that the entities are in position
to contribute to achieving the paramount objectives of both state and federal
law -- protection of the consumers' interests.

In 1996 Governor Pete Wilson and his CPUC reposed a great deal of trust in
the FERC in moving California,s electricity system into an unbundled,
federalized mode. Now is the time for you to justify that trust. I want to
cooperate with you in transitioning to a market-based approach to provide
this essential service. However, first and foremost, I want you to do your
job and to let me do mine. Together we can protect the electricity consumers
of California and work to restore their confidence.

Sincerely,

GRAY DAVIS


Gary/Susan,

Did the INTRA-CNT-TRANS-PHY book get included in the POS-GAS-TRD portfolio?

Thanks,
Robin


Dear Andy

Thanks for your Mail. I sincerely hope you were able to get a high level
overview of our company. Further to my earlier mail, i am enclosing the
information which could provide further insight into our company. Pls
include them in your assessment process and give me a feedback if you
require any further clarification. We look forward to meeting you and your
team for an  presentation and the value we could bring to Enron. In the
presentation, we would cover our Methodology, Processes, Competencies,
Clients , Case Study & our economical/cost effective deployment processes.

Some synergies i perceive; Enron's initiative in ClickPaper could map well
based on our experience in Forest Express , EnronOnline could map into our
experience with RMX/Chevron or American Petroleum Exchange, Dealbench.com
maps well with our experience with eBreviate on the hosted ASP model for
eRFP,Auctions,Supplier Search. Moreoever, our development labs in India
could add great value for your module development, ongoing support,
maintenance, QA, Porting work; deploying a very low cost structure.

1.	TechSpan Details: I have enclosed the following -

	1.1 Company Overview (Management, Revenues, Growth, Locations,
Services, Competencies,  etc)
	1.2 TechSpan B2B Markets Expertise Brochure
	1.3 Case Study - e2Open , Traiana
	1.4 Projects with Ariba & MOAI

2.	Other Details which could be of interest

	2.1 TechSpan has been featured on IDC's analysis (Report No. 23918)

	" IDC believes that TechSpan has done a good job of melding its
evolution as a services business to that of its 	partnerhips"

	2.2.  BEA's Partner brochure on its competency (attachment), wherein
TechSpan has been evaluated at par with KPMG & 	CSC. All our clients have
also realized the value in TechSpan and all have positioned us equivalent
(and higher in many 	cases)to any Big 5 Consulting firm.

	2.3.  INDIAN E-BIZ CONSULTING MARKET WORTH $136 M.: V&D

	TechSpan tops the Big Six list of e-biz consultants in India with
total business worth $67 million, followed by 	Planetasia and MindTree. The
study has identified pricing as the one big advantage enjoyed by Indian pure
play 	Internet Professional Services companies.

     	http://ciol.com/content/news/repts/101020511.asp?nl=ctd-mar5

	2.4  Inc. Magazine and Cisco Systems Name TechSpan, Inc., Finalist
at Growing with Technology Awards Ceremony

      http://www.techspan.com/news/prcisco.html

	2.5.  TechSpan Ranked on Sm@rtReseller's Smart 100 Companies List

      http://www.techspan.com/news/prsmartreseller.html

In summary, we are a young company (two years in operations) with high
ambitions and clearly articulated vision of being a leader in the e-commerce
consulting space. We have achieved major milestones in being a $ 67.0
Million company within 2 years, largely due to the confidence exhibited by
our customers and partners. Though the above are some achievements in the
past (giving you a base comfort factor on our long term stability), we are
keen in discussing what value we could bring to Enron, now and in the
future.

Thks,

Arvind

Arvind Ramanathan
Business Development Manager
TechSpan Inc.

Tel	: 408. 530.5570
Cell	: 408. 828.6391

www.techspan.com

-----Original Message-----
From: Andy.Zipper@enron.com [mailto:Andy.Zipper@enron.com]
Sent: Thursday, May 24, 2001 8:12 AM
To: Arvind.Ramanathan@techspan.com
Subject: RE: Partnership: Enron & TechSpan (Goldman Sachs Funded
Company)

Arvind,

Thank you for the note. We are evaluating the potential value that Techspan
could bring to Enron. We will contact you when are ready to enter into a
dialogue.
Once again thank you for your interest in Enron.

Andy Zipper
Vice President

 - TechSpan_Ecom.DOC
 - B2B Markets Brochure_Final.pdf
 - Success Story_e2open_v 2.0.pdf
 - Success Story_Traiana_v 2.0.pdf
 - BEA_COMPETENCY.pdf
 - TechSpan Experience with Ariba_Final.doc
 - TechSpan Experience with Moai_Final.doc


Here's what Eric wrote:

I revised the contract you sent me to make it site specific.  Those changes
are redlined.  Please note that I have reinserted sections 10.4.1 and 10.4.3
as well as the defined terms that go with them.  These were related to
exhaust temperature and energy.  I know this is a simple cycle plant and they
typically aren't required, but I wanted to see if GE would guarantee it
anyway.  It maybe helpful in the future if Austin Energy goes combined
cycle.  If for some reason GE's lawyers specifically want to leave that out,
then they will probably also want to delete sections 10.4.2 and 10.4.4 (and
their defined terms) since those also talk about specific exhaust
guarantees.  Let me know what they decide.

Exhibit A (site basis conditions) which I also revised was not attached to
your file.  (It's right behind the sign-off pages in my hard copy.)  I
therefor hand marked up a copy and scanned it.  It is now attached as a
separate word file.

Exhibit F is "boiler plate" and shouldn't change.  Exhibit "U" is not in my
hard copy.  My copy only goes up to Exhibit "T."   If you get something from
GE on Exhibit "U", send it to me and I will be glad to review it.


>  -----Original Message-----
> From:  Pitrat, Charles A (Tony) Mr USACHPPM
> Sent: Wednesday, June 28, 2000 11:58 AM
> To: Taylor, Timothy G Mr USACHPPM
> Subject: FW: Lead Toxicity
>
>
>
>  -----Original Message-----
> From:  Fathimulla, Farhana Ms USACHPPM
> Sent: Wednesday, June 28, 2000 11:41 AM
> To: Pitrat, Charles A (Tony) Mr USACHPPM; Galusky, Parrish E Mr
> USACHPPM; Chang, Hsieng-Ye Ms USACHPPM; Mobley, Joleen Ms USACHPPM
> Subject: FW: Lead Toxicity
>
>
>
>  -----Original Message-----
> From:  Blanchard, Alan E CPT USACHPPM
> Sent: Wednesday, June 28, 2000 11:35 AM
> To: Fathimulla, Farhana Ms USACHPPM
> Subject: Lead Toxicity
>
>  <<...OLE_Obj...>>
>
>
>
>
>


Either I didn't fully understand the December Texas Eastern order or else
FERC has just put a new and unhelpful spin on it.  The Thursday rehearing
order dramatically changes how the "shipper must have title" rule applies to
acquisitions of upstream capacity.   I thought the Dec. order pretty clearly
allowed a pipe to acquire upstream capacity and then resell that capacity
under the acquiring pipeline's rate schedules.  FERC specifically held that
the "shipper must have title" policy won't be applied if the acquiring pipe
treats the acquired capacity "as though it were part of its own system".  (p.
61,886)  The Dec. order even cited TW's acquisition of park n ride capacity
from PG&E as an example of the type of transaction that (I thought) could be
done without advance Commission approval.   Now, FERC explains that it did
not intend a "blanket waiver" of the shipper must have title policy.   Pipes
can still acquire upstream capacity without advance FERC permission, but only
if the acquiring pipe is going to use the acquired capacity for operational
needs or to resell under the selling pipe's release mechanism.  If the
acquiring pipe wants to use the acquired capacity to support sales of service
under the acquiring pipe's rate schedules, a specific waiver of the "must
have title" policy is required (see FN 20 and text).   We are right back to
where we started.  I guess the orders signal that FERC is  much more likely
to grant waivers of the "must have title" policy than in the past, but I
don't think we are good to go to acquire upstream storage, for example, and
resell it as FDD or IDD until we get permission first.

Shelley--let me know if you hear any expressions of outrage from other
pipes.  This might be worth chasing on rehearing since it is such a clear
about face by FERC.


Kevin/Peter/Eric

We are holding 32 interviews for the ENA Trading Track this Thursday, November 1st from 2.30 pm onwards.   Your names have been passed to me by Hunter Shively.    Can you please confirm you can interview at this time.   All the interviewers are gas & power traders.

Kind regards,

Karen.
x54667

 -----Original Message-----
From: 	Shively, Hunter S.
Sent:	Monday, October 29, 2001 3:41 PM
To:	Buckley, Karen
Subject:	RE: gas & power interviewers Trading Track

Kevin Ruscitti
Pete Keavey
Eric Bass


---------------------- Forwarded by Richard B Sanders/HOU/ECT on 11/22/99
03:08 PM ---------------------------

Dwight Beach
11/22/99 01:49 PM
To: Richard B Sanders/HOU/ECT@ECT
cc: Peggy Banczak/HOU/ECT@ECT
Subject: San Cristobal

Attached is a redline of the letter to Enerstar.  Both Peggy and I have made
some changes.   When you have a chance let's talk.

1.  I'm not sure the address is correct anymore for Enerstar.

2.  I did not change it in the letter, but I have a question about the
sentence in the last paragraph where we say that "... , Enron is not seeking
to recover its considerable expenses from Enerstar Limited".  Do you think
that we need to say this?


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E-mail Address:      dfarmer@enron.com
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Erin,

A book by Martha Amram and Nalin Kulatilaka is an excellent
non-technical introduction to real options and it contains all the most
important
references to more advanced books and papers.
The book has an endorsement  by Jeff Skilling on the cover page.

The Research Group offered  several one-day seminars on real options
and applications to the energy industry. We still have a few binders with
the presentation materials available if you are interested.
We plan to repeat the seminar sometimes in the fall.
The first part of the seminar (about 4 hours in the morning) covers general
concept of real options
and their applicability to the energy business.
The second, more technical afternoon session, covers stochastic processes used
to model price uncertainty in the energy markets and specific case
studies (valuation of natural gas storage facilities and of peaking gas-fired
power plants).

The real options approach has been developed specifically to address the
problem of making
investment decisions under uncertainty. Nobody in this field claims that this
is a
perfect tool, but it represents a significant progress compared to other
techniques developed
earlier.

Discounted cash flow analysis that tries to incorporate uncertainty through
analysis of several, in most cases, arbitrary scenarios (most likely,
optimistic,
pessimistic). These scenarios don't identify explicitly the risk drivers
and don't specify the future proactive management decisions.

The real, option approach is very powerful because it allows to (1) capture
uncertainty in an explicit way and  (2) to design investment projects that
allow to exploit future positive developments and reduce future exposures to
downside risk.
This approach allows also create a link between investment decisions and
future
operational decisions. Forward-looking investment decisions create options
that are exercised
in the future through active management of a project.

The real options technology relies heavily on advanced statistical tools to
come
up with the representation of future possible states of the world. The real
challenge is
to use these tools in a sensible way. I have seen in my career (almost 30
years
of applying mathematical tools to business and economic problems) many quants
armed with
powerful computers who reminded me of monkeys armed with hammers. The
challenge is not
to run mechanically  thousands of simulations based on arbitrary assumptions
but to translate in a  creative   way the insights of people who understand
specific  businesses
into parsimonious quantitative models. It is especially critical to
stress-test the assumptions
of any model and to ask the question if the outcome of a model depends
critically on any set of assumptions.
If this is the case one should use common sense to examine the underlying
assumptions.
I remember that in the early eighties quite a few models simulated the
dynamics of oil prices,
but all the stochastic scenarios represented fluctuations around a very
optimistic  upward trend.
One would have been better off stepping back and asking a simple question
what Economics 101
teaches about cartels and the dynamics of supply and demand.

	Enron North America Corp.

	From:  Erin Rice @ ENRON                           06/27/2000 03:52 PM

To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Pre-submitted question on eSpeak

Good news!  There is already a question waiting for your July 12 eSpeak
session.  I have pasted it below, although you don't have to respond until
the actual event.  Don't forget to send a bulleted list of discussion topics
if you would still like us to advertise the event on the elevator screens.

Thanks.

- er

submitted by breineck
I was doing some reading about the application of real options in the
evaluation of non-financial assets. Would you recommend any texts or articles
for a
more in-depth study of this area? Is quantification of risk or uncertainty
the major challenge in using this concept? Can statistical tools be used with
this to do
a sort of sensitivity analysis?


We have intervened in certain cases where we may have an ongoing commercial interest to require "rate unbundling" in anticipation of direct access.  We also can intervene on behalf of EWS who may provide risk mgt. products to reduce utility rates (i.e., weather derivitives to stabilize rates and reduce utility-reated risk).  In this case we are there to make sure rates are properly unbundled to facilitate AB 661.

-----Original Message-----
From: Kaufman, Paul
Sent: Monday, October 22, 2001 7:57 PM
To: 'Bonnie Drinkwater'
Cc: Keene, Patrick; Steffes, James D.
Subject: RE: Intervention into Nevada Power rate cases

By this e-mail, I'm forwarding this to Pat Keene.  He will be your main contact on Nevada matters for a while.  I'm swamped processing the filings for the sale of PGE.  My view is that it should be both ENA and EES.  Our interest is:  (1) we are a potential new electric resource under AB 661; and (2) these cases will influence whether we can serve customers under the statute as the unbundled costs incurred by our potential customers will be determined in this case.

Pat:  What do we say in other states where we intervene and there is no direct access?  I'd rather not say that we that we are representing the interests of several large consumers in Nevada.  It opens our deals up for discovery.

-----Original Message-----
From: Bonnie Drinkwater [mailto:bdrinkwater@Mcdonaldcarano.com]
Sent: Monday, October 22, 2001 5:23 PM
To: Kaufman, Paul
Subject: Intervention into Nevada Power rate cases

Paul,

As I was preparing the petition to intervene, it occurred to me that
information has changed.  Do you want the petition to reflect both ENRON
ENERGY SERVICES, INC. and ENRON NORTH AMERICA.  Also, since you do not
own LV Cogen anymore, what would you like me to put as the reasons for
intervention for these entities.  I have attached a draft petition.  It
needs to be filed on Wednesday.

Thanks for your assistance.

Bonnie


Yes, are you at the top of the list?  You should be trying to open the top
database that says "secured".

	Cheryl Nelson@ENRON
	Sent by: Cheryl Nelson@ENRON
	05/01/2001 02:06 PM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: Re:

is this the link to the new swaps forms database?

Cheryl Nelson
Senior Counsel
EB3816
(713) 345-4693

	Tana Jones@ECT
	05/01/2001 02:02 PM

		 To: Cheryl Nelson/NA/Enron@Enron
		 cc:
		 Subject:

Link -->


Phyllis,
I need to check into

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

	lemelpe@NU.COM
	05/09/2001 03:03 PM

		 To: Carol.St.Clair@enron.com
		 cc:
		 Subject: Re: EEI Cover Sheet

Carol - Thanks for your prompt turn-around on this document.  I've asked
John Morissette, our contract administrator, to get you the information
needed to fill out the Party B info on the cover sheet.   When I download
your document, the check boxes on the cover sheet do not appear, so I am
having John and our credit person, Valerie Mooney, checking it.  All the
language in the "Other Changes" section (except the payment provision)
looks in good order.

I understand that the billing and payment issue is still being discussed,
and I was asked to mention it to you as well.  All of Select's
counter-parties under Master Agreements expect payment to be made by the
later of the twentieth day of the month following service, or 10 days after
an invoice. If Select agrees to make payments within 5 days after an
invoice, but only receives revenues on the 10th day, it creates a cash flow
problem for Select.  How do you suggest that we resolve this issue?  It
seems to be a football going back and forth between the credit and the
billings folks.

Also, since we are so close to finalizing the document, we need to have the
appropriate folks work on putting together Attachment A (referenced in Part
1., (b) Prior Transactions).  Janice thought that the Enron folks would
take a first shot at the document, and then Select could verify it.  Can
you move that along to the appropriate people?

Thank you,

Phyllis Lemell


July 1st co-owner volumes - Koch, Texas

Beverly
---------------------- Forwarded by Beverly Beaty/HOU/ECT on 06/28/2000 08:26
AM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Steve Holmes" <Steve.Holmes@dvn.com>
06/27/2000 04:44 PM

To: <Beverly.beaty@enron.com>
cc:
Subject: July 2000 Co-Owner's Volumes

Please see the attached list of co-owner's availabilities for the month of
July 2000.

Steve

 - 0700Co-Owners Volumes to Enron.xls


There is a new work schedule in the book.  There have been some schedule
changes due to Jesse moving to his new position.  If anyone cannot
accommodate the new changes let me know.