THE FRIDAY BURRITO
"...more fun than a fortune cookie, and at least as accurate."

There is a hint of Autumn in the air.  I don,t know if it,s wishful
thinking, or if the seasons are really beginning to turn from our pale
summer into a Bay Area glorious Fall.  It,s premature, I know.  A few
fallen leaves, the start of schools, slightly longer afternoon shadows
... I,m jumping the gun.  I can,t wait for this summer to be over,
especially this summer.  The pounding never stops, and as I hear the din
of the cash register ringing with each climb in Southwest temperature, I
can barely keep track of all the hiccups which drive prices up: fires in
Montana restricting transmission paths, blown up interstate gas pipeline
in New Mexico, diminishing N-Ox credits for in-state power plants,
depleted inventory of hours of voluntary load interruptions for
commercial and industrial customers, credit limits restricting imports
of Canadian power into the Northwest and California, and BPA buying
about 1,000 MW to cover its short hydro position.

 I also get the willies every time another politician lambastes the
California restructured power industry.  I just want to end to the
summer, now, and start a two week Fall vacation ... anywhere, even in
Cleveland.

There are seven, count them, seven investigations into some aspect of
the wholesale power market out here.  Two days ago there were only six,
but FERC just added another yesterday in response to the Prez,s
request.  That means FERC has two, the PUC has two, the State Attorneys
General has two (one on the ISO Governing Board, and one on the in-state
generators), and one by the Electric Oversight Board.  If you don,t have
an ongoing study of the California Market, then you,re not hip.

All of these investigations, save FERC,s Section 206 Investigation, are
going to amount to near nothing.  A lot of wasted time and paper.  The
PUC and EOB studies have their conclusion sections all finished.  Now
they need some evidence to support their assertions.

And how are we holding up under all of this?  How are you doing?  I talk
to many of you throughout the week, and I know how frustrated you are.
I share your frustration.  You want to tell the public, the press, and
anyone in between the truth.  You want to lay out the facts.  You want
to show anyone who will listen that each interference into the market is
making things worse, not better.  The price caps, for example, are
damnable and screwing up the prices, much to the detriment of those
people for who price caps were supposed to be a protection against price
shocks.  Now they are receiving higher average prices.

The public isn,t going to listen to anything longer than a sound bite.
And let,s face it, when it comes to stellar public relations, our
industry is not known for turning in A+ performances, except for SCE.
Those guys seem to get their story in front of the public at every
turn.  I heard SCE is putting on their customers, bill, &Here is what
you would have paid if the rate freeze ended ....8.  But many of us in
the new power industry, borne from the loins of either the natural-gas
industry or nuclear-power business, learned the hard way that the best
response to a public inquiry is a two-block head start in front of an
angry mob.  Keep your head down, shut your mouth, and this too shall
pass.

I don,t buy that approach, at least not anymore.  That is, I don,t
believe we have anything to hide, or of which to be ashamed.  What
electric restructuring is about is correct, beneficial to the public,
and in everyone,s best interests.  Look at it this way, when they pat
the last shovelful of dirt on your final resting place, for what do you
most want to be remembered?  That you caved in to the political will of
others, or at a moment when you had the chance, you did what was right
instead of what was expedient?  I think the choice is easy, albeit laced
with sheer terror.  Those bland homilies I so diligently teach my kids
(e.g., tell the truth, do what is right, think of the big picture and
not just yourself) are a lot easier to speak than to live by.  So join
me and stand up for what you believe.  They can,t take away your pride,
not yet.

Here is this week,s line up.

>>> Things in the People,s Republic of California
 @@@ Excerpts from FERC,s Order on SDG&E Complaint
 @@@ The Development of a Super-Peak Block Energy Product

>>> The Mailbag: A Letter from My Friend, and A Response

>>> Odds and Ends (_!_)

 @@@ Finish the Story Contest
 @@@ October General Meeting
 @@@ What Makes Houston, Houston?

>>> Things in the People,s Republic of California
 @@@ Excerpts from FERC,s Order on SDG&E Complaint

President Clinton commented from the Rose Garden that good folks in San
Diego, retired, fixed-income, likely to vote for a Democrat, are making
choices between buying medicine or air conditioning their homes.  I call
this the Del Monica Beach lecture.  The Prez instructed the FERC to
investigate the situation in California, and FERC wasted no time.

In response to SDG&E,s August 2 complaint, whereby the utility asked
FERC to impose a $250 price cap on generators in the region, the FERC
responded in a way that I was hoping to see several months ago.  The
FERC slammed SDG&E on their complaint for lack of merit, and the FERC
also initiated an FPA Section 206 Investigation into the wholesale power
market in California.

Here are some of the juicy excerpts from FERC,s Order:

&In this order, ... , we are denying SDG&E's requested immediate
imposition of a price cap on all sellers in California.  However, we are
instituting consolidated hearing   proceedings pursuant to section 206
of the Federal Power Act to investigate the justness and reasonableness
of the rates and charges of public utilities that sell energy and
ancillary services to or through the California ISO and PX, and to also
investigate whether the tariffs and institutional structures and bylaws
of the California ISO and PX are adversely affecting the efficient
operation of competitive wholesale electric power markets in California
and need to be modified

&SDG&E concludes that the markets cannot be workably competitive if
sellers are able to exact prices that are considerably above levels that
would prevail in open competition, i.e., sellers are able to bid and
receive prices significantly above their marginal costs.  SDG&E also
argues that the hour-to-hour volatility in imbalance energy prices and
the erratic clearing price for ancillary services is an indication that
the market is breaking down when it is moderately stressed.

&While we find it appropriate to institute a section 206 hearing on
these issues, we cannot implement an immediate price cap of $250/MWh as
requested by SDG&E because there is no record before us to support such
an action.  ...  While the issues raised by this complaint are
important, the Commission has no basis to conclude that SDG&E's proposal
to place an immediate, arbitrary $250/MWh cap on the price that every
public utility seller of energy and ancillary services may bid into the
PX and ISO markets would satisfy this standard.  SDG&E has provided no
evidence to demonstrate that all potential sellers are able to exercise
market power, has not documented a single instance of a seller
exercising market power during times of scarcity, and did not attempt to
show that the conditions underlying the Commission's approval of
market-based rates for public utility sellers of energy and ancillary
services have changed.  Nor did it address specific market or
institutional  factors that may be causing rates to be unjust or
unreasonable.

&SDG&E asserts that the ISO's congestion management and market
structures are flawed and in need of overhaul. ... Furthermore, SDG&E
expresses its concern that, for a number of reasons, the congestion
management and market reform efforts being pursued by ISO stakeholders
will not produce  meaningful results.  SDG&E indicates that it is
prepared to work with the ISO to develop alternative reform proposals;
however, SDG&E's complains that the ISO stakeholder process has, in
SDG&E's judgment, been ineffective with respect to these issues.

&Various interveners contend that SDG&E's arguments are premature. ...
We agree with Interveners. ...  The reform efforts have been the subject
of extensive public review and comment and are nearing completion.
Accordingly, we reject SDG&E's arguments at this time.

&It is unclear whether SDG&E's failure to purchase hedging instruments
for its retail operations is due to state regulatory policies or its
business decisions.  A retail rate design that exposes consumers to the
volatility of commodity prices would be extraordinary, particularly when
consumers do not have the ability to receive or respond to price
signals.

&We are concerned that ... increasing level of market activity in the
real-time market raises significant reliability and economical concerns.
...  Historically, the ISO procures on a daily basis only the resources
needed for the operating day.  Not only does this procurement practice
put pressure on the grid operator to secure needed resources at the last
minute, but the practice is uneconomical.  Such spot-market purchases
are not subject to the ISO's  buyer's cap.  Furthermore, because the ISO
is the supplier of last resort for these services, when OOM calls are
made, suppliers realize that the ISO is in a must-buy situation.

&In an effort to address this problem, we direct the ISO to immediately
institute a more forward approach to procuring the resources necessary
to reliably operate the grid.  Specifically, the ISO should anticipate
the need for such additional resources based on  forecasted peak
periods.  We direct the ISO to factor these reforms into an analysis of
the need for and level of purchase price caps and to include this
analysis as support for any filing it makes to extend its purchase price
cap authority.8

In closing, WPTF is an intervenor in the case, and we hope to be very
active in the case through testimony, cross examination, the filing of
briefs, and reply briefs.

>>> Things in the People,s Republic of California
 @@@ The Development of a Super-Peak Block Energy Product

Several weeks ago, I discussed with the ISO their interest in developing
a new market for a block energy product that would be purchased in the
morning of a trade day, and be dispatched during the super-peak hours.
I challenged them to let the market participants develop this market
instead of the ISO doing the same.

At the August 1 ISO Governing Board meeting, I stated as the WPTF
position that we oppose price caps, but if the ISO Governing Board
insisted on going down the $250/MWH price cap route, we would do what
ever we could to help the situation and avoid the occurrences of Stage 3
alerts.  Whereas I didn,t think about the conversation on super-peak
block markets as being relevant to  the remarks before the Governing
Board, it became painfully clear soon after that we could, and should
work with the ISO to develop a new market through either APX or the
California PX, or both, to bring some order to the otherwise chaotic Out
of Market system.

This week, WPTF and the ISO had a joint meeting whereby both sides
discussed the merits of a super-peak block firm-energy product, and how
it could be instituted.  The meeting at the ISO, at which WPTF had many
of its members who either have generation in the State, or import power
into California, was for market participants and the ISO to discuss how
to bring more order and price transparency to the ISO's out of market
calls. The ISO reported that this summer, to date, the amount of money
spent on Out of Market purchases was about $100 million.  Last year the
total cost of Out of Market purchases was $1.7 million.

APX and CalPX, in response to our earlier discussions with them,
presented their proposals at the meeting.  The discussions which ensued
during the course of the presentations focused on how the ISO might
utilize a product/service to reduce the manpower requirements currently
needed to satisfy its out of market telephone calls, typically on short
notice, and the interest on the part of market participants to make bids
into either the APX or CalPX's proposed system for a super-peak
firm-energy product.

There were no  commitments made by any party, simply a willingness to
work together to alleviate the problems associated with finding
sufficient electric power during high demand periods with greater
transparency, more participants, and greater market efficiency.

We,ll keep you posted on our development of this market.

>>> The Mailbag: A Letter from My Friend, and A Response

Sometimes I share bites of our Burrito with fellow travellers, much as I
did last week when I sent my friend Mike Florio a copy of the story
called the Trial of Gow Jing.  Mike sent me a note that I would like to
share. He said I could.  I want you to read it and appreciate that there
are other people who share his view.  I also copied the response I sent
to Michael, a.k.a. Old Deuteronomy.

Michael wrote:

&I'm not going to attempt to complete your little melodrama [the
Gow-Jing story], but I did want to offer an observation.  In simpler
times, people knew the other people that they did business with, and
they typically lived in the same community.  If a merchant tried to
charge exorbitant prices for his products, even if he was the only one
in town who had the product in stock, he would face the wrath of his
fellow citizens.  This undoubtedly served as a constraint on such
behavior, even in the absence of a CPUC or FERC. Telling Mrs. Jones that
the loaf of bread she needs to feed her kids will cost her $50 would not
be a pleasant way to do business, and such things ordinarily did not
happen.

&In the modern global economy, of course, this personal aspect of doing
business has been almost completely lost.  And so has the restraint.  I
have no doubt that the folks who sell electricity are good people (jeez,
I know many of them), but they work in an environment where the end
results of their business decisions are invisible.  If Mrs. Jones can't
afford to run her refrigerator any more, that fact is at best dimly
perceived, and if so it is viewed as cause for some sort of social
program, not a reason why a merchant would alter his behavior.

&This is clearly not a case of socialism versus capitalism, because both
scenarios occur within the overall context of a capitalist system.  But
certainly something fundamental has changed, and not for the better in
my view.  Now everyone feels compelled to squeeze the last dollar out of
every transaction-- their jobs may even depend upon it-- and no one is
responsible for the end result.  Is this the kind of world we want to
live in???

&PUT THAT IN YOUR BURRITO AND SEE WHAT YOUR READERS SAY!  YOU CAN EVEN
BLAME ME, SO THAT YOU ARE NOT ACCUSED OF TURNING PINK IN YOUR MIDDLE
AGE.      Deut8

Okay.  It,s in the Burrito.  And here is what I think.

You allude to the change in a world that was once &more personal8 and is
now institutional.  You make the point that things are not better off if
for no other reason then the lack of personal accountability.  But I
don,t think that in all cases the more personal world is lost.  It is
ever present, as I will argue below.  Second, your group embraces the
impersonal &efficiencies8 when it is convenient.  Finally and most
importantly, where will your social-minded and like minded counterparts
be when competitive forces leap supply ahead of demand, which might
happen in a handful of years?

However, your essential point is not lost on me.  I do believe that
there are ways for generators and consumers to be good neighbors in
California.  I have a proposal below to which I would like to hear your
response.

First, though, the personal business touch is present in our economy.  I
exercise the restraint to which your story pines in many of my
consulting engagements which require financial give and take between
client and vendor.  It is simply smart business to do so.  I have been
the beneficiary of the same with my local bank when errors occurred in
my checking accounts, or when loan payments were made absent mindedly
late, etc., and the late fee forgiven.  However, much of our economy,
and certainly the trade of a commodity such as electricity requires the
use of markets.  Nameless and faceless, they do squeeze out all the
efficiencies which lead to lower prices, more innovation, and a sharing
of price risk with parties who are neither the ultimate consumer nor the
initial producer.  The producer and consumer get out of the risk
arbitrage and leave it to others who are more skilled and monied.

I find it ironic that TURN, then, is so insistent on arguing, as it has
done on many many occasions for the relaxation of market separation in
the ISO,s congestion management reform.  Elimination of market
separation is nothing more than the impersonal forcing of parties to
execute trades on either side of a congested transmission path in the
name of market efficiency.  Lower prices for consumers.  Does it really
matter if it is done through person to person transactions, or through
markets?

Third, your story can be used to make an alternative point.  What
happens to the merchant in town when Wal-Mart moves into the next town
down the road?  All the faithful customers that your Merchant of
Vengeance was protecting suddenly migrate to a competitor with greater
inventory, more choice, and lower prices.  What do you say, then?  The
corollary for us is direct.  The new generation owners moved literally
billions of dollars into California, at risk, and took a chance.  It
paid off.  They succeeded as we all know this year, and probably will
next year, and so on.  But the 3,000 MW of new power plants under
construction in California, and the 3,000 MW under construction in
Arizona, and the over 16,000 MW of combined power projects in
California, Arizona, and Southern Nevada that are in line for permits
will change the financial landscape in a hurry once energized.  The
prices will soften, returns will be less cherry, and I really want to
know, where will today,s accusers be when there is a shake out?
Consumers will reap that benefit, oh you best believe it. But the
alliances to which your opening story alludes simply misses that point.
You gotta make hay while the sun shines.

Now to my proposal.   Michael, I would be willing to work with you to
develop some kind of loan program for residential and small commercial
customers that would, in effect, reduce the economic hardship of higher
electricity prices.  I could imagine, although I haven,t tested the idea
with any parties,  that a significant program could be crafted, possibly
secured by the credit of participating generating companies, and
executed by a commercial lending institution such as Bank of America.
Borrowers would pay a fair interest rate and the administrative fees.
It,s simply smart business, not charity.  It,s one way to amortize the
earnings which came about due to a circumstance of short supply relative
to the sudden growth of demand for power.

Maybe that is a step in the right direction, I don,t know. One could
argue that it is no different than SDG&E implementing a level payment
plan for it,s consumers.  True, it is no different, because in either
case the customer is paying for the loan interest and administrative
fees, and I consistently believe that a market for credit is more
efficient (am I getting impersonal?) than one instituted by a
monopoly.   Second, the security for these loans is provided by parties
other than the utility,s customers.  Further, we wouldn,t have to worry
about PUC oversight and prudence reviews.  We could make this work
quickly.

I will be very interested to hear your thoughts, and the comments of my
members.  Thanks for sending us your letter.

>>> Odds and Ends (_!_)

 @@@ Finish the Story Contest

Well, there was only one response, and that was from Carl Imparato.
Here is what Carl said,

&Am I missing something? Who is Gow-Jing supposed to represent? (Yes, I
get the pun in the name.  But is he also just an anonymous "everyman" or
is there someone in particular?)

&My first response to your question is that Gow-Jing simply replies
+Itai!, (You could look it up... I think it's Chinese for +it hurts!,).
Then he takes out a concealed axe, goes on a rampage and kills
everyone.  But that's too realistic, so don't use that ending.  Instead:

&Ending:  Just as he was about to reply, a giant 500 foot wall of water
swept through the room, drowning everyone.  And they lived happily ever
after.  The end."

I haven,t decided whether to name this response Carl,s Gilgamesh Epic
(I.e., Noah and the flood), or Carl,s Hydro Dream.  We,ll leave the
contest open for another week.  Can,t let $5 bucks go the only entry.
Where,s the competition?

>>> Odds and Ends (_!_)

 @@@ October General Meeting

Barb Ennis, our event coordinator for our General Meeting wanted you
folks to know that the Inn at Morro Bay blocked a few more rooms for us
on Wednesday, October 4th (for the early birds) and of course Thursday,
October 5th. To date, 21 of the 24 rooms originally set aside in the
WPTF block are now taken.

Among the additional rooms, there are 2 rooms blocked with double beds
on Wed. & Thur. nights at $152.00 each and 6 rooms on both nights for
$89.00 each.  Folks, you better call the Inn at Morro Bay, telephone
800-321-9566.  Rooms should be requested under the name of the Western
Power Trading Forum.

Also feel free to call the Inn and book a room for Friday and Saturday
if you wish to stay over....ask for SHAWN.

For those who are in the golf, green fees are $28.00 plus $10.00 for the
cart.

Please RSVP me by E-Mail (baennis@ix.netcom.com) if you are attending
The Social Evening Dinner On Thursday Night ($45 per person, all are
invited) and also the luncheon on Friday (no charge) .... I must have an
accurate headcount.

Have a great weekend and see you at Morro Bay.......Barb

>>> Odds and Ends (_!_)

 @@@ What Makes Houston, Houston?

Dan Douglass of Arter and Hadden sent us the following item. Houston,
the unofficial home of the electric power industry, is a town you either
love or hate.  Here are some guiding principles offered by the Chamber
of Commerce of the 4th largest city to enable their many visitors to
cope.

   First you must learn to pronounce the city  name. It is YEWS-TUN and
it does not matter how people pronounce it in other places.

   Forget the traffic rules you learned elsewhere. Houston has its own
version of traffic rules. Never forget that downtown Houston is composed
entirely of one way streets. The only way to get out of center of town
is to
turn around and start over when you reach Dallas, Texas.

   All directions start with, "Go down  Westheimer..."

   Westheimer has no beginning and no end.

   It's impossible to go around a block and wind up on the street  you
started on. The Chamber of Commerce calls this a "scenic  drive".

   The 8am rush hour is from 6:30 to 9:30am. The 5:00 pm rush hour is
from 3:30 to 6:30 pm.  Friday's rush hour starts on Thursday morning.

   If you actually stop at a yellow light, you cannot be from Houston.

   Kuykendahl Road can only be pronounced by a native, so do not
attempt the phonetic pronunciation. People will simply tilt their heads
to the right and stare at you.

   Construction on the Gulf Freeway is a way of life, and a permanent
form of entertainment.

   Many bizarre sights can be explained simply by uttering the phrase,
" Oh, we're in Montrose!!"

   Construction crews aren't doing their job properly  unless they
close down all lanes except one during rush hour.

   If  someone actually has their turn signal on, it was probably left
on at the factory where the car was made.

   White haired men driving red or silver sports cars will not obey any
known traffic rule and cannot be expected to stop for red lights or stop
signs.

   All ladies with blue hair who drive Cadillacs or Lincoln
Continentals have the right of way.

   The above mentioned blue haired ladies also have a  legal right to
turn right from a left lane or to turn left from a right  lane. YOU HAVE
BEEN WARNED!

   Buying a  Houston street map is a waste of money since there is
absolutely no way that you can route yourself in such a manner as to
avoid major road construction.

   Houston natives are so rare that they are listed on the endangered
species list. The few remaining specimens are kept in a controlled
environment for their own safety.

   Sir" and "Ma'am" are used by the person speaking to you if there's a
remote  possibility that you're at least 30 minutes older than they are.

   "Sugar" is a more common form of  address than "Miss". So is
"Honey". Do not take offense. This is how southerners address grown
women.

   In Houston we drink Coca-Cola  and Dr. Pepper. It is rumored that
other soft drinks are sold here, but no one will admit to knowing anyone
who actually drinks them.  So don't ask for any other soft drink.

   What you need to know when arriving at Bush Intercontinental
Airport: Your arrival gate is at least 32 miles away from the Main
Concourse of any terminal.  Walking heels on your boots or walking shoes
are advised.

   Never honk your horn at another car in Houston traffic. The bumper
sticker that reads, "Keep honking, I'm reloading" is considered fair
warning.

=============

Have a great weekend, y,all.

gba


Some AReM members met with the SJ Mercury News Editorial Board and the
editorial below is the result

Sue Mara
Enron Corp.
Tel: (415) 782-7802
Fax:(415) 782-7854
----- Forwarded by Susan J Mara/NA/Enron on 06/27/2001 01:28 PM -----

	"Fairchild, Tracy" <tracy.fairchild@edelman.com>
	06/27/2001 12:27 PM

		 To: "Allen, Stevan" <stevan.allen@edelman.com>, AReM <arem@electric.com>,
"Douglas Oglesby (E-mail) (E-mail)" <doao@chevron.com>, "Erica Manuel
(E-mail)" <erica.manuel@edelman.com>, "Fairchild, Tracy"
<tracy.fairchild@edelman.com>, "Jeffrey Hanson (E-mail) (E-mail)"
<jeff.hanson@phaser.com>, "Joseph Alamo (E-mail) (E-mail)"
<jalamo@enron.com>, Megan Beiser <megan.beiser@edelman.com>, "'Robert Morgan'
(E-mail)" <rmorgan@newenergy.com>, "Warner, Jami" <jami.warner@edelman.com>
		 cc: "Warner, Jami" <jami.warner@edelman.com>
		 Subject: Media Coverage of Direct Access News Conference

Hello AReMers:

Below you will find the list of media outlets that covered our news
conference yesterday.  In addition to media present at the conference, we
also had 12 reporters listening in via teleconference (only six asked
questions).  I am attaching the stories that we have already found; we'll
send more as they are published today and throughout the week.

The SJ Merc editorial also ran today (it's excellent) and we're keeping an
eye out for the Bee editorial and the possibility that Bill Stall of the LA
Times may write on this issue.  He was at the conference but has made only
neutral comments about whether he'll write anything.

Orange County Register--Kate Berry
Wall Street Journal--Rebecca Smith, John Emshwiller and Mitchel Benson
Associated Press--Karen Gaudette
San Jose Mercury News--John Woolfork, Mike Bazeley
North County Times--Dennis Devine
San Diego Union Tribune--Ed Mendel
San Francisco Chronicle--Greg Lucas, Bernadette Tansey (this story will
probably run on Friday)
Los Angeles Times--Bill Stall
Bloomberg News--Daniel Taub
California Energy Markets--JA Savage
Electric Power Daily--Ethan Howland
Restructuring Today--George Spencer
Natural Gas Intelligence--Richard Nemec
Capitol Public Radio (NPR)
KFBK Radio--Mike Ward
PacSat News Satellite

 <<NGI Daily 2001June27.pdf>>  <<rt010627.pdf>>

Even better than expected ....
Published Wednesday, June 27, 2001, in the San Jose Mercury News
EDITORIAL

The opinion of the Mercury News
PUC should keep consumers plugged in to power choices
AT the beginning, the restructured California electricity market was
supposed to include competition among sellers of electricity -- offering
green power or cheaper power -- not just competition among generators.
As things played out, retail competition was nearly smothered. Now, with the
state buying electricity on behalf of utilities, it could take a further
blow.
State officials are leery of letting customers go to other suppliers now
that the state will buy huge amounts of electricity over the next decade.
The Public Utilities Commission Thursday might suspend ``direct access,''
the ability of consumers large and small to cut their own deals with
electricity suppliers, instead of being forced to buy through the
state/utilities.
The PUC should leave it alone. Instead, the Legislature should continue
discussing ways of revitalizing direct access without leaving the state with
long-term contracts and not enough customers.
Ultimately, the state should get out of the electricity business. Keeping
retail competition alive is one avenue of escape.

********************************************************
There's a slightly negative zinger at the very end, but overall a balanced
story.
Published Wednesday, June 27, 2001, in the San Jose Mercury News
CALIFORNIA'S ENERGY CRISIS
PUC likely to call a halt to shopping for power
BY MICHAEL BAZELEY <mailto:mbazeley@sjmercury.com>

AND JOHN WOOLFOLK <mailto:jwoolfolk@sjmercury.com>
Mercury News
State regulators Thursday are expected to pull the plug on electricity
deregulation's core feature: the ability of customers to shop around for
alternative power.
After July 1, residential and business customers would no longer be allowed
to shop for a new electricity provider under a measure expected to be
approved by the California Public Utilities Commission.
State leaders fear that after stepping in and buying premium-priced power to
avoid blackouts this year, big businesses will flee for a better deal,
sticking small consumers with the government's energy bill. Those consumers
would then face higher rates, causing even more to flee.
``You create a death spiral,'' said Sen. Debra Bowen, D-Redondo Beach.
Business leaders, alternative energy providers and some state officials are
desperately trying to head off the move, saying they've saved a bundle on
energy through the ``direct access'' option of bypassing the major
utilities.
``While we're coping with the rate increase, we think direct access is the
best way for us to manage the cost of energy,'' said Dominic DiMare,
legislative advocate of the California Chamber of Commerce.
``It leads to market discipline as well as innovation,'' DiMare said.
Supporters argue the state, which approved a record $13.4 billion in bonds
to cover power costs, can guarantee payment without killing off customer
choice.
They backed an alternative proposal Tuesday by utilities Commissioner
Richard Bilas in which customers would pay a charge to cover the state's
energy bonds, regardless of their electricity provider. Customers already
pay similar charges to cover an array of costs from nuclear decommissioning
to conservation programs.
``It still gives people the opportunity to buy energy that might not
necessarily be cheaper, but that meets their needs more,'' said Rick
Counihan, spokesman for Green Mountain Energy, which markets power from
renewable sources such as solar and wind.
But even Bilas gives his proposal long odds of approval, saying ``If I were
a betting man'' he'd say his plan ``would go down.''
The ability to shop for power was the impetus for the state's 1996
deregulation bill. The architects of deregulation -- led by business groups
-- believed that if customers could buy power directly from producers, it
would promote competition and drive down prices.
It never happened.
Wholesale power costs soared, and that, along with a host of other issues,
drove companies out of the state, forcing tens of thousands of consumers
back into the arms of utilities.
Now, though, with significantly higher electric rates going into effect this
month, choice is looking more attractive than ever to big businesses. Joined
by alternative power companies, they are trying to push a bill through the
Legislature that would set up a framework for continued choice.
``Manufacturers live and die by the ability to cut costs,'' said Gino
DiCaro, spokesman for the California Manufacturers and Technology
Association. ``If they have an opportunity to save money, we don't feel
there's any reason that should be taken away.''
That type of freedom raises a host of thorny issues. The state is now buying
power on behalf of utilities and entering into dozens of long-term power
contracts. If businesses and residential users flee the system, the state
could be left with a surplus of costly power and fewer users to pay for it.
That, in turn, could mean higher rates for the remaining users.
Bowen is trying to address these issues in a bill that would make customers
pay when they leave the system. Her bill also would allow users to go into
the market only during annual enrollment periods, and it would limit the
amount of power that could be bought on the open market.
Business groups are fighting those provisions.

Contact Michael Bazeley at mbazeley@sjmercury.com
<mailto:mbazeley@sjmercury.com> or (415) 434-1018.

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

 - NGI Daily 2001June27.pdf
 - rt010627.pdf


---------------------- Forwarded by Mark - ECT Legal Taylor/HOU/ECT on
09/27/99 03:06 PM ---------------------------

"Richard H. Bernero" <richard.bernero@rhinere.com> on 09/22/99 06:35:01 PM
To: Mark - ECT Legal Taylor/HOU/ECT@ECT
cc:
Subject: [Fwd: [Fwd:Phoenix AZ//Rhine Re(Bermuda)confirm 00003.01.01]

2nd try

Rgds

X-Mozilla-Status2: 00000000
Message-ID: <37E938EA.D7121E01@rhinere.com>
Date: Wed, 22 Sep 1999 16:15:39 -0400
From: "Richard H. Bernero" <richard.bernero@rhinere.com>
Organization: Rhine Re Financial Ltd.
X-Mailer: Mozilla 4.5 [en] (WinNT; U)
X-Accept-Language: en
MIME-Version: 1.0
To: Mark.Taylor1@enron.com
CC: Shari.Stack@enron.com, Julie Perron <j.perron@rhinere.bm>
Subject: [Fwd:Phoenix AZ//Rhine Re(Bermuda)confirm 00003.01.01
Content-Type: multipart/mixed;
boundary="------------045A27362C8B147FA5DE4466"

Mark,

I spoke with Lynda Clemmons today at the NY roadshow, and understand
that in Shari Stack's absence that you are the best one to follow up in
ref: draft confirmation sent to Shari a few weeks ago.

See attached final draft, in case you do not have it readily available.

I will be out of the office Friday 9/24, but will otherwise be available
to discuss.  PLease review the attached, and if it makes sense, perhaps
we can schedule a call to discuss and wrap things up.

Rgds

Richard H. Bernero
VP & Treasurer
Rhine Re Financial Ltd.
(p) 212-454-1893
(f) 212-454-5916
email: richard.bernero@rhinere.com

X-Mozilla-Status2: 00000000
Message-ID: <37D594A3.FA2F5D0@rhinere.com>
Date: Tue, 07 Sep 1999 18:41:39 -0400
From: "Richard H. Bernero" <richard.bernero@rhinere.com>
X-Mailer: Mozilla 4.5 [en] (WinNT; U)
X-Accept-Language: en
MIME-Version: 1.0
To: sstack@ect.enron.com
CC: George Judd <george.p.judd@db.com>
Subject: Final comments - draft confirmation for the Phoenix deal
Content-Type: multipart/mixed; boundary="------------4B4F4BBA192D7D583B306096"

See attached for your review, which has been approved/reviewed by George
Judd as well.  Other than meetings tomorrow (Wed)  morning, I will be
reachable so we can wrap this matter up.  Perhaps we can touch based in
the p.m., so we can discuss the nature of the changes from our end.  Let
me know what works for you.

Rgds

 - Cn030101.doc


Sorry for the delay.  I will be out of town most of this week but could set up a time to talk on the phone if that works for you either Thursday afternoon or Friday morning.  Otherwise, how about Monday August 6 at 10:00, 2:00 or 3:00?

 -----Original Message-----
From: 	Staffel, Jake
Sent:	Thursday, July 26, 2001 1:18 PM
To:	Taylor, Mark E (Legal)
Cc:	Richter, Brad; Haney, Mike
Subject:	RE: EnronOnline Customer Lists

Mark,

Thank you very much for your e-mail I requested.  As it turns out I did not need it for Brad.

Brad did ask me to follow up on two items --

Item 1)  Brad was interested if we could share a list of people who visited the site.  So the users would obviously be a subset of this list.  Any thoughts on this matter?  If the customer visits would not work then --

Item 2)  Brad is interested in a workaround.  I shared the idea (at a high level) of a campaign to persuade the users to grant us permission to use their names. Brad wanted to be sure that several points would be addressed with whatever the workaround was.  His concerns are as follows: 1) we want to be as unobtrusive to the EOL customers as possible, 2) in any transaction we need to give the customer value, and 3)  the EOL customers would need to know how we would use the information if they did grant permission to share their data.

Suggested Action:

I would like to meet with you to talk further about any workarounds you might suggest which would address these issues.  After I have a clear understanding of your workaround which addresses the above issues I can then run it by Brad for his approval and then figure out who best to implement.

In this regards do you think we could meet tomorrow at 9:00 a.m. (in your office) for 30 minutes to discuss?  If this time is not convenient for you please counter with some times that are convenient to you.

Thank you

Jake

 -----Original Message-----
From: 	Taylor, Mark E (Legal)
Sent:	Thursday, July 26, 2001 10:52 AM
To:	Staffel, Jake
Cc:	Jones, Tana
Subject:	EnronOnline Customer Lists

Our agreements with EnronOnline customers prohibit us from sharing their names with third parties (i.e. non-Enron companies).  We can use our customer lists ourselves for marketing our products, but can not give the lists to anyone else.

Mark Taylor
Vice President and General Counsel
Enron Wholesale Services
(713)853-7459


---------------------- Forwarded by Peter F Keavey/HOU/ECT on 07/20/2000
08:22 AM ---------------------------

	From:  Kate Fraser                           07/20/2000 08:13 AM

To: Mark Courtney/HOU/ECT@ECT, Peter F Keavey/HOU/ECT@ECT, Laura
Podurgiel/HOU/ECT@ECT, Mirna Mejia/HOU/ECT@ECT, LaCrecia
Davenport/Corp/Enron@Enron
cc:
Subject: Re: For Sale: Home Office Furniture from Storehouse Furniture

Sorry guys, I was on vacation yesterday.  Here are the photos.  Some of you
have asked......the furniture is four years old.  My husband and I both work
outside the home, so it has really just been used to surf the internet and do
family finances.  It is in great condition.  Come over any evening or weekend
and see for yourself.  We still like it, but we have to give up our study to
make room for the twins we are expecting in September!  Mima, I would prefer
to keep all the pieces together, but I may consider selling the bookcase
separately, I'll let you know.

Thanks,
Kate

---------------------- Forwarded by Kate Fraser/HOU/ECT on 07/20/2000 08:00
AM ---------------------------

	From:  Kate Fraser                           07/18/2000 02:01 PM

To: Kendra Dromgoole/NA/Enron@Enron
cc:
Subject: Re: For Sale: Home Office Furniture from Storehouse Furniture

---------------------- Forwarded by Kate Fraser/HOU/ECT on 07/18/2000 02:00
PM ---------------------------
From: Kate Fraser on 07/18/2000 01:48 PM
To: Karen Lambert/HOU/ECT@ECT, Joan Quick/HOU/ECT@ECT
cc:
Subject: Re: For Sale: Home Office Furniture from Storehouse Furniture

Thanks for the interest!

Kate


---------------------- Forwarded by Kay Mann/Corp/Enron on 04/18/2001 10:49
AM ---------------------------

	From:  Chris Booth                           04/18/2001 10:47 AM

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

Subject: RE: Blue Dog Turbines

Kay,

Here are the addresses of the storage facilities for the turbine, generator
and other major components for Unit #1.

Chris
---------------------- Forwarded by Chris Booth/NA/Enron on 04/18/2001 10:45
AM ---------------------------

jeffrey.darst@ps.ge.com on 04/18/2001 10:32:29 AM
To: Chris.Booth@enron.com
cc:

Subject: RE: Blue Dog Turbines

Gas Turbine:
Newport News Marine Terminal
25th Street & Warwick Blvd.
Newport News, Va.   23607

Generator:
Greensport Terminal
Houston, Texas    77015

MSD:
Tuloma Stevedoring, Inc
5275 West Channel Rd
Catoosa, OK  74015

and

Fritz Companies, Inc
545 S. Bird Creek Avenue
Catoosa, OK 74015

-----Original Message-----
From: Chris.Booth@enron.com [mailto:Chris.Booth@enron.com]
Sent: Wednesday, April 18, 2001 10:20 AM
To: Darst, Jeffrey A (PS, PPSD)
Subject: Blue Dog Turbines

Jeff,

I need the physical addresses of where the turbine, generator and MSD items
for Unit #1 are being stored.

Thanks,

Chris


Marek,
I am doing OK.
Talk to you over the weekend.
Vince

 -----Original Message-----
From: 	MPakulski@bjservices.com@ENRON
Sent:	Friday, December 07, 2001 10:30 AM
To:	vkamins@ect.enron.com
Subject:	Hi

Vicek,

How are you surviving all this turmoil.  I hope you are OK.  We have just
came back from Hawaii to find a different world.

Marek


Kate,
So far, know you all are still inputting deals:

ICE broker   3/27/01
Enron Buys Reliant Energy Ser
Jul-Sept
355.00
Sp15

thanks


-----Original Message-----
From: 	Winfrey, Christa
Sent:	Wednesday, November 14, 2001 11:59 AM
To:	Tijerina, Shirley; Hogan, Irena D.; Solis, Melissa; Bates, Kimberly; Harvey, Claudette; Black, Tamara Jae; Coleman, Venita; Rode, Tina; Holcombe, Tina ; Clyatt, Julie; Roberts, Chaun; Vuittonet, Laura; Jones, Melissa; Rangel, Ina; Presas, Jessica; Salinas, Michael; Collins, Angie; Finnels-Neal, La Donna; Snow, Dina; Villarreal, Alexandra; Young, Becky; Irvine, Geraldine; Rybarski, Amanda; Choate, Heather; Chapman, Christy; Leigh, Lorie; Zarsky, Lisa; Gordon, D'ann; Butler, Shelly; Noske, Linda J.
Cc:	Shepperd, Tammy R.; Schoppe, Tammie; Brooks, Loretta; Lopez, Susan; Duree, Janelle; Smith, Carli; Belsha, Lorie
Subject:	Additional Move Related Information

A few more important reminders...

Chairs:  Must be labeled for the move---use the wire tags included in your move packets.
Keyboards, mice:  ONLY label non-standard types (i.e. wireless mice/keyboards, special ergonomic keyboards); otherwise, do not label.
Phones:  Do not label these.  New phones will be at your workstations at Enron Center South.
Laptops, cell phones, palm pilots, etc.:  Be sure to remind your groups to take these home.  The move team will not be responsible for moving these over.  However, docking station, cradles, etc. should be labeled.  The move team will move these over and set them up for you.

Thanks again for all your hard work,
Christa
 -----Original Message-----
From: 	Shepperd, Tammy R.
Sent:	Tuesday, November 13, 2001 5:00 PM
To:	Tijerina, Shirley; Hogan, Irena D.; Solis, Melissa; Bates, Kimberly; Harvey, Claudette; Black, Tamara Jae; Coleman, Venita; Rode, Tina; Holcombe, Tina ; Clyatt, Julie; Roberts, Chaun; Vuittonet, Laura; Jones, Melissa; Rangel, Ina; Presas, Jessica; Salinas, Michael; Collins, Angie; Finnels-Neal, La Donna; Snow, Dina; Villarreal, Alexandra; Young, Becky; Irvine, Geraldine; Rybarski, Amanda; Choate, Heather; Chapman, Christy; Leigh, Lorie; Zarsky, Lisa; Gordon, D'ann; Butler, Shelly; Noske, Linda J.
Cc:	Schoppe, Tammie; Brooks, Loretta; Lopez, Susan; Duree, Janelle
Subject:	Move Related Issues

As you all know, our move is scheduled for this weekend.  Hopefully,  you and your groups are all progressing well in your preparations for the move this Friday. Please take the time to read the information contained in this message because most of the information contains reminders or FYI items and will be important to you and your group.  Please forward this to those in your group that may need this information.

?	Voicemail instructions - Please have everyone in your group clear all new voicemail messages by 5:00 PM, Friday, 11/16.  All saved messages, greetings and recorded names will be saved.  If a message is left before cutover the message will be saved, but the message light will not be displayed when you arrive.  As a precautionary meassure please check voice mail upon your arrival Monday morning even if the message light isn't on.

?	Building access - ECS will not be available for general access until Monday morning at 5:00 AM.  Due to the gas and power moves being combined, it is unlikely that the move team will be prepared for the POC's to come in on Sunday to unpack.  (Separate instructions will be generated for those who are needed to test trading applications.)  NOTE: Only those whose names have been approved and submitted to security will be allowed access on Sunday.
o	Monday - 5:00 AM for all employees

?	Security & badges -  All POC team members should be familiar with the routes into ECS as we discussed at our recent move meeting.  Please be sure to share this information with all of the people in your group.  If you need additional copies of the floor plans that have the access routes highlighted, please contact Carli Smith (5-3473). Please stress to everyone to have their badges with them at all times.  No one will be allowed access without their badge.  If anyone tries to access the building from the garage via the skyring and they do not have their badge, they will be sent back through the garage to the street level to walk across the street to the round kiosk in the Enron building lobby to get a guest pass and then proceed back to ECS via the 2nd floor and the skyring.

?	Move team colors - As mentioned at the move meeting, the following is a list of the color designations (vests) for the various teams that will be on the floor when we move in.
o	Red - Move Team
o	Orange - Desktop Support/IT
o	Green - Telephony

?	Newspaper subscriptions - The delivery location for all newspaper subscriptions need to be changed to ECS 05/06.  It is our intention to have all daily newspapers delivered to the mail desk located in the ECS 2nd floor corridor.  It will be the responsibility of the assistants to either pick up the papers for their group or designate someone in their group to pick up the papers.  If your papers continue to be delivered to your old floor of ECN, contact Sunny Rodgers (3-6116).

?	Move boxes -  Please encourage your group to pack and bring no more than about 6 boxes per person.  You may call Facilities (3-6300) if you need to request additional boxes.

?	Move labels -  If you run out of labels or if you are missing any labels, please call Carli Smith (5-3473) to have additional or missing labels printed.

?	Laptops - Important - Please ensure that all cable locks have been removed from all laptop computers by 5:00 PM on Friday.  If any cable locks are left on the computers they will be destroyed by the move team in order to move the computers as scheduled.

.	Bottled water - Every kitchen has an ice machine that also dispenses filtered water.  The large bottles of water (5 gallon) will not be allowed on the floor.  We would also like   to discourage the use of small bottles of water due to limited storage space and the availability of filtered water at several locations.

?	Phone sets - Although most of you are aware of this, we just wanted to remind you that there will be only one phone on each desk - either a turret or an Avaya, but not both.  Do not tag your phones, a new phone will be waiting for each person on their desk in the new building

I hope I have covered some of the outstanding questions or issues you might have, but if I have missed something, please let me know.  Thanks so much for all your help and hard work.


let me know when you want to talk....


FYI, Kim.

 -----Original Message-----
From: 	Lebeau, Randy
Sent:	Friday, March 01, 2002 10:42 AM
To:	Watson, Kimberly
Cc:	Jordan, Fred
Subject:	FW: TW Question in Amarillo

Kim, regarding the question below pertaining to the abandonment of units at Ivanhoe, what do we need to do next?  We are currently out of compliance on the ESD system and would like to get the ball rolling as soon as possible.

 -----Original Message-----
From: 	Harris, Steven
Sent:	Friday, March 01, 2002 10:33 AM
To:	Lebeau, Randy
Subject:	RE: TW Question in Amarillo

Thanks for the feedback. Kim Watson is the appropriate person to talk to on this.
Steve

 -----Original Message-----
From: 	Lebeau, Randy
Sent:	Friday, March 01, 2002 10:26 AM
To:	Harris, Steven
Subject:	TW Question in Amarillo

This is just to follow up on the phone message I left for you today (Friday, March 1).

The questions raised in the employee meeting with Stan Horton in Amarillo this week regarding gas that has gone off the system, had to do with NNG facilities not TW.
 As I stated in the voice mail, we do have an issue at the Ivanhoe station.  The HP there has not run in several years, but as long as it's in place, we are required to maintain the ESD system.  We would like to pursue the abandonment in place of the units.  If we don't do this, we are looking at some significant costs to make repairs and upgrades to the system.  Our question is, who do we need to work with on this effort?

Thanks for following up so quickly after Stan's visit.
Randy


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 12/04/2000
12:29 PM ---------------------------

"Btu" <subs@Btu.net> on 12/01/2000 05:15:39 PM
To: "Btu's Weekly Power Report" <>
cc:
Subject: Btu's Weekly Power Report

Attached is the latest issue of Btu's Weekly Power Report

e-mail: info@Btu.net
phone: 732-758-8222
fax: 732-758-8286

 - wp120400.pdf


You are the best!

	Marie Heard@ENRON COMMUNICATIONS
	11/14/2000 09:59 AM

		 To: Tana Jones/HOU/ECT@ECT@ENRON
		 cc:
		 Subject: Re: Exodus NDA

Here is the form.  I think I can do lunch.

Marie Heard
Senior Legal Specialist
Enron Broadband Services
Phone:  (713) 853-3907
Fax:  (713) 646-8537

	Tana Jones@ECT
	11/14/00 09:33 AM

		 To: Marie Heard/Enron Communications@ENRON COMMUNICATIONS@ENRON
		 cc:
		 Subject: Re: Exodus NDA

Can you email me your form?  How about lunch today?

	Marie Heard@ENRON COMMUNICATIONS
	11/14/2000 09:31 AM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: Exodus NDA

Tana,

It appears that the Exodus NDA was done out of the Portland office and we
don't have access to their directories.  It does look like our form, so you
can probably use it as your starting point.

We, at EBS, are sorry for this inconvenience.

Marie

Marie Heard
Senior Legal Specialist
Enron Broadband Services
Phone:  (713) 853-3907
Fax:  (713) 646-8537
Marie_Heard@Enron.net


Steve Stojic called to let me know that the technical conference in RP01-56
will be held on Jan. 9 at 10:00.  A notice will be issued shortly.


1st Quarter 1999 WSPP Filing (created by Linda L Lawrence/HOU/EES on 4/26/99)


Shawna and I are both sitting here so excited to get your note.  Are we
available?  For Chapman?  Of course!!!  Shawna's answer is...both nights,
many festive drinks!  We are only limited by the thought of choosing just one
night over the other!  If we have to, we will.  We leave the choice to you,
because we are available either night...

	Jon Chapman
	12/14/2000 11:11 AM

		 To: Tana Jones/HOU/ECT@ECT, Shawna Flynn/HOU/ECT@ECT
		 cc:
		 Subject: Houston

Guess where I am on Tuesday and Wednesday next week - any chance of getting
together for a festive drink or even a festive coffee ???

Yours in eager anticipation

Jon


Gas Indices - IntercontentalExchange

                                                                                IntercontinentalExchange
                                                                                Firm Physical Natural Gas Price Bulletin
                                                                                For Natural Gas Delivered on Thursday, December  20, 2001
                                                                                (Trade Date of Wednesday, December  19, 2001)
Click here to access index history


WPTF will be submitting a ton of data to the AG office tomorrow.  It consists
of all WPTF-related data -- no member-specific data.  It includes a password
to the WPTF web site so that the guy can read all the regulatory filings
we've made -- and the burritos (weekly newsletters to the membership).  Also
they are submitting all meeting minutes, Gary's day planner and the bylaws.
This seems fine.


---------------------- Forwarded by Andrea Ring/HOU/ECT on 03/20/2001 02:14
PM ---------------------------

	From:  Karen D McIlvoy                           03/20/2001 01:42 PM

To: ragan.bond@bhlp.com
cc:  (bcc: Andrea Ring/HOU/ECT)
Subject: (no subject)

A woman went to a pet shop and immediately spotted a large beautiful =
parrot. There was a sign on the cage that said $50.00. "Why so little," =
she asked the pet store owner.=20

The owner looked at her and said, "Look, I should tell you first that =
this bird used to live in a house of prostitution, and sometimes it says =
some pretty vulgar stuff."=20

The woman thought about this, but decided she had to have the bird =
anyway. She took it home and hung the bird's cage up in her living room =
and waited for it to say something. The bird looked around the room, =
then at her, and said, "New house, new madam."=20

The woman was a bit shocked at the implication, but then thought "that's =
not so bad."  When her two teenage daughters returned from school the =
bird saw them and said, "New house, new madam, new girls."=20

The girls and the woman were a bit offended but then began to laugh =
about the situation. Moments later, the woman's husband, Keith, came =
home from work.=20

The bird looked at him and said, "Hi Keith."


tomorrow at 9 it is.  the place on either battery or sansome at California,
right?  can't wait.  see you then.

jeff

	"Gigi Coe" <gcoe@firstworld.net>
	03/06/2001 12:46 PM

		 To: <Jeff.Dasovich@enron.com>
		 cc:
		 Subject: Re: Fw: Fessler Fesses Up to What Went Wrong in California

I'd love to have coffee, but don't think that I can make it downtown before
9:00 what with kid dropoff, etc.  Meet at your little corner italian coffee
place at 9:00?  G.
-----Original Message-----
From: Jeff.Dasovich@enron.com <Jeff.Dasovich@enron.com>
To: Gigi Coe <gcoe@firstworld.net>
Date: Tuesday, March 06, 2001 9:02 AM
Subject: Re: Fw: Fessler Fesses Up to What Went Wrong in California

>
>hi!!!!!!!!!!!!!!!!!!!  gigi, o, gigi, you won't believe this.  i gave a
>talk on california at the plaza hotel in nyc about a month or so ago and
>guess who spoke on the panel before me?!?!?  you guessed it.  daniel
>william hissself.  can't wait to tell you about it.  i, too, want to catch
>up.  how's coffee early tomorrow morning---like 8:30 am work for you.
>otherwise, i'm in heewwwston for the rest of the week.  hey, we each had
>big birthdays--congratulations.  another decade well lived.  look forward
>to seeing you real soon.
>
>best,
>jeff
>
>


Please create the following books to be used in Sitara and TAGG.  Let me know
if I forgot any information.

Dave


Please change as indicated
---------------------- Forwarded by John Arnold/HOU/ECT on 02/14/2001 07:32
AM ---------------------------

"Gencheva, Daniela" <GencheDI@er.oge.com> on 02/13/2001 11:06:52 AM
To: "'jarnold@enron.com'" <jarnold@enron.com>
cc: "Liszewski, Pete" <liszewsp@er.oge.com>
Subject: Deal# 863626 from 2001-02-07

John,

During a telephone conversation with Pete Liszewski, at 2.12 pm on February
7th, you agreed that the price for deal#863626 - NYMEX nat gas swap for
15,000 Apr 01 should have been $5.815 NOT $5.83 as you system wrongfully
indicated.
Would you correct the price in your system or inform your contract
administrator of the correction.
If you have any questions please feel free to contact Pete Liszweski at
405-553-6430.

Daniela Gencheva
Energy Trading Analyst II
OGE Energy Resources
TEL: 405-553-6486
FAX: 405-553-6498


Jeff Deyer (host)  713-464-8486
713-465-0556 office  713-201-6670  cell


---------------------- Forwarded by Andrew H Lewis/HOU/ECT on 03/26/2001
01:21 PM ---------------------------

Hunter S Shively
03/26/2001 10:44 AM
To: Andrew H Lewis/HOU/ECT@ECT
cc:
Subject: Western Frontier

---------------------- Forwarded by Hunter S Shively/HOU/ECT on 03/26/2001
10:44 AM ---------------------------

Chris Meyer
03/20/2001 12:54 PM
To: Bryant Frihart/ENRON@enronXgate, Lynn Pikofsky/Corp/Enron@ENRON, Laura
Luce/Corp/Enron@Enron, Deirdre McCaffrey/HOU/ECT@ECT, Sylvia S
Pollan/HOU/ECT@ECT, Hunter S Shively/HOU/ECT@ECT, Mark Whitt/NA/Enron@Enron,
Julie A Gomez/HOU/ECT@ECT, Stephanie Miller/Corp/Enron@ENRON
cc: Michael J Legler/NA/Enron@Enron
Subject: Western Frontier

This is one of the presentations at the Williams Customer trip Bryant and I
attended in KS.  It covers a proposed greenfield pipe known as Western
Frontier (Cheyne Hub to WIlliam Central's Hugoton (KS) station).

"Elliott, Mark" <Mark.D.Elliott@Williams.com> on 03/20/2001 10:26:23 AM
To: "'chris.meyer@enron.com'" <chris.meyer@enron.com>
cc: "Sanders, Dale T." <Dale.T.Sanders@Williams.com>, "King, Donny W (WGP
SouthCentral)" <Donny.W.King@Williams.com>
Subject: Western Frontier Presentation and Breakfast

 - 2001 WFP Presentation pdf version.pdf


Gary,

In preparation for the Outlook migration, we have come up with the basic structure of the public folders needed for EWS Legal.  The initial access to create and/or rename folders should be given to the users identified next to the group and/or subgroup (i.e. for Enron Global Markets - grant access to Alan Aronowitz and Nita Garcia).   Upon completion of the migration, the assistant assigned to each of these groups will procure access to others in her group and create additional folders as they may be needed.

Please let us know if you have any questions regarding the attached information.

Thanks.

Janette Elbertson and Nony Flores


AGA for 2/9/01 is -95

Website information:
http://gasfundy.corp.enron.com/gas/framework/default.asp
Drop down Box to "Storage"
In-house Analysis
My files are the last three files.

When the dialog box asks to upadate links click "NO".


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Along with all the questions that Louise asked, can I please see the resume.

 -----Original Message-----
From: 	Kitchen, Louise
Sent:	Friday, April 27, 2001 10:13 AM
To:	Presto, Kevin
Cc:	Lavorato, John
Subject:	Re: willis phillips

This isn't the ex-metals trader from Koch?

What level is he?  What is the package - director or below?

 	Enron Capital & Trade Resources Corp.  From:  Kevin M Presto                           04/27/2001 08:49 AM

To:	John J Lavorato/Enron@EnronXGate, Louise Kitchen/HOU/ECT@ECT
cc:

Subject:	willis phillips

We would like to hire Willis Phillips from Koch.   Rogers, Dana, & I have all interviewed him and think he is a can't miss candidate.   The bad news is that he was referred by a headhunter (the fee is 20% of first year package).

This guy is quality and I want to make an offer.   Please let me know if I can proceed ASAP.

<Embedded Picture (Device Independent Bitmap)>


Charles Schwab & Co., Inc.

Internet Daily for Tuesday, May 22, 2001
by Frank Barnako CBS MarketWatch.com

-----------------------------------------------------------------
Amazon.com expands Toys R Us relationship

A revamped Babiesrus.com Web site will reportedly launch this
week as part of a widening relationship between Amazon.com and
Toys R Us . The new children's products retail Web site will
include a baby shower registry, a spokeswoman for Amazon.com told
the Seattle Times. The Babiesrus.com effort comes almost nine
months after the two companies agreed to a 10-year deal under
which Toys R Us handles the inventory and Amazon.com does the
site and order fulfillment on the Toysrus.com Web site. "I think
it's (clear) that the alliance is working," said Jeanne Myer,
Toys R Us vice president of corporate communications.

-----------------------------------------------------------------
Web grocers' problem is obvious

You can't blame someone at Peapod or Webvan for watching gasoline
costs. The expense of making home deliveries is sky high,
according to senior analyst Ken Cassar at Jupiter Media Metrix .
He calculates Webvan and Peapod spend $27 to process each order
and two-thirds of the expense is for delivery. "Given the current
low level of consumer demand, delivery costs are breaking the
backs of online-only grocery retailers," Cassar wrote in a
report.

-----------------------------------------------------------------
Internet radio listening rises

MeasureCast Inc. reported Tuesday a 14% increase in Web radio
usage during the week of May 14-20. The research company's index
shows consumption of Web radio has risen almost 50% since the
start of the year. Broadcasters with strong weeks included
ClickLive's WLIR-FM, which doubled the number of hours streamed,
CableMusic Network's Hot 100, which had a 97% increase, and
KNIK-FM, streamed through WarpRadio, which notched a 66% gain in
time spent listening.

-----------------------------------------------------------------
UPS acquires IShip.com

Stamps.com Inc. sold its IShip.com Internet service to United
Parcel Service . Terms of the transaction were not released.
IShip is a service shippers can use to compare costs among
Federal Express, UPS and the U.S. Postal Service.

-----------------------------------------------------------------
Ask Jeeves buys Web guide service

Ask Jeeves Inc. announced it has acquired assets of ETour Inc.,
which offers Web users "tour packages" of sites arranged by
category. The amount of cash involved in the transaction was not
disclosed. ETour.com claims to have 4.5 million registered users.
Ask Jeeves said it would use ETour.com's technology to direct its
users to sets of Web sites meeting their interests. The Web site
tours include editorially selected Web sites and Web sites that
pay to be included. Ask Jeeves will keep the ETour.com Web site
open.

-----------------------------------------------------------------
Olympics ticket sales begin on EBay

Tickets to next year's ice hockey and figure skating competition
at the Salt Lake City Olympics are drawing bids for thousands of
dollars on Ebay . Sales began yesterday with the cooperation of
the Games' organizing committee. The auction continues for two
weeks, offering 100 front-row tickets to 11 events. If the
tickets sell for more than their original face value, the balance
will be donated to the VIII Paralympic Games, which will be held
next March in Salt Lake City.

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I have some questions myself about the data contained below, but it is
largely accurate, and for those of you following Europe from afar, I thought
this summary was a convenient way to share with you the status of
developments in Europe.   call if you have any questions.   mcs
---------------------- Forwarded by Mark Schroeder/LON/ECT on 12/12/2000
16:44 ---------------------------

Kyran Hanks
12/12/2000 16:02
To: Paul Turner/LON/ECT@ECT, Bob Manasse/LON/ECT@ECT, John
Oliver/LON/ECT@ECT, Robert Saltiel/LON/ECT@ECT, Ron Bertasi/LON/ECT@ECT,
Stuart G Rexrode/LON/ECT@ECT, Patrick Bastien/LON/ECT@ECT, Kirsten
Wolf/LON/ECT@ECT, David Haworth/LON/ECT@ECT, Patricia Graham/LON/ECT@ECT,
Hala Tayyarah/LON/ECT@ECT, Christoph Waltenspuel/LON/ECT@ECT, Kevin
Greiner/FRA/ECT@ECT, Jackson Vo/HOU/EES@EES, Dung Tran/LON/ECT@ECT
cc: Mark Schroeder/LON/ECT@ECT, Paul Dawson/Govt. Affairs/LON/ECT@ECT, Doug
Wood/LON/ECT@ECT, Sadia Haider/LON/ECT@ECT

Subject: Country and EU liberalisation summaries

All

Given the number of requests that we have for country summaries, Sadia has
put together these two files.  The first of these files contains for each
country of the EU, for power and gas, a description of each country's
deregulation, and current issues.  I think we will update this every month or
so.

The second file contains some EU wide stuff - maps of liberalisation, the
flags showing liberalisation etc.

Let me know if you need anything else - our next step is to add reported
price data.  These are also on the s:\ees\risk mgt\presentations shared space

Enjoy.

K.
---------------------- Forwarded by Kyran Hanks/LON/ECT on 12/12/2000 15:59
---------------------------

Sadia Haider
07/12/2000 16:43
To: Kyran Hanks/LON/ECT@ECT
cc:

Subject: country slides


Jim,
I will let you know when I see the payment.

Thanks!

Liz Lopez
Energy Analysis
MS- Z220
1-505-855-6373
1-505-855-6379

 -----Original Message-----
From:   Butler, Jim
Sent:   Wednesday, January 16, 2002 2:49 PM
To:     'holden.salisbury@enron.com'
Cc:     Winn, Robert; Bartley, Kevin; Lopez, Elizabeth; Bryant, Larry; Martinez, Cathy
Subject:        Book1.xls

 << File: Book1.xls >> This is the prepayment request for the off-peak power that PNM will deliver to Enron for the period 1/22/02 through 1/28/02.  Thanks Jim Butler


Happy New Year.  We hope your holidays were enjoyable and restful.  For a pleasant start to 2002, please join your Enron colleagues for coffee and donuts this Friday, January 11, from 8:00 - 9:00 a.m. in the lobby of the Enron Building.  We look forward to seeing you there.


===================================================

JoC Online Daily E-mail Newsletter
Friday Edition
December 21, 2001
Transitional Government Day (Sao Tome and Principe)
www.joc.com

===================================================

Take the Daily Quiz, sponsored by APL.

Which Southeast Asian country borders the Gulf of
Thailand, the Gulf of Tonkin and the South China Sea?

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===================================================

TODAY'S TOP HEADLINES:

* Lin: Taiwan is China gateway
* Halifax freezes 2002 tariffs
* Forwarder wins round vs. CSX Lines, Matson
* EVA Airways names Yen
* Feeders cut India surcharge
* Cargo vessel stopped and searched in Channel
* New York files to abandon rail car float line
* Descartes buys Tradevision
* SNAME elects Rosenblatt
* Export ABCs: Information, please
* JoC Week: Teamsters target port drayage

===================================================

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===================================================

LIN: TAIWAN IS CHINA GATEWAY
A trade minister says the island nation is ideally
positioned as it and China enter the WTO.
http://news.joc.com/cgi-bin7/flo?y=eEem0BejkZ0BbA0Sz30Az

HALIFAX FREEZES 2002 TARIFFS
Harbor dues, berthage and anchorage fees,
wharfage and passenger charges will remain  unchanged.
http://news.joc.com/cgi-bin7/flo?y=eEem0BejkZ0BbA0Sz40A1

FORWARDER WINS ROUND VS. CSX LINES, MATSON
A Los Angeles forwarder can press its case over
rates in the Hawaii trade.
http://news.joc.com/cgi-bin7/flo?y=eEem0BejkZ0BbA0Sz50A2

EVA AIRWAYS NAMES YEN
Kitty Yen, a 25-year veteran of Evergreen Marine Corp.,
becomes the first woman to head the group's
aviation affiliate.
http://news.joc.com/cgi-bin7/flo?y=eEem0BejkZ0BbA0Sz60A3

FEEDERS CUT INDIA SURCHARGE
Improved turnarounds times at the port of Chennai have
led feeder operators to cut their congestion surcharge.
http://news.joc.com/cgi-bin7/flo?y=eEem0BejkZ0BbA0Sz70A4

CARGO VESSEL STOPPED AND SEARCHED IN CHANNEL
A cargo ship sailing from Mauritius was stopped and
searched by British anti-terrorist forces in the
English Channel.
http://news.joc.com/cgi-bin7/flo?y=eEem0BejkZ0BbA0Sz80A5

===================================================

MEET THE TOP NAMES IN THE TRANS-PACIFIC MARITIME INDUSTRY!
The 2nd annual Trans-Pacific Maritime Conference on March
3-5, 2002 is the premier way to network and learn. We
are pleased to announce that C.C. Tung, chairman and
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will be the keynote speaker.  For additional information
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If you have any questions, please contact Ren?e Stambach
at (973) 848-7154 or rstambach@joc.com.  For sponsorship
opportunities, please contact Yvonne Berry at (541)
485-0053 or yberry@joc.com.

===================================================

NEW YORK FILES TO ABANDON RAIL CAR FLOAT LINE
The City of New York wants to shut down the last
remaining operator of car float service across New
York Harbor.
http://news.joc.com/cgi-bin7/flo?y=eEem0BejkZ0BbA0S1A0A1

DESCARTES BUYS TRADEVISION
The Canadian logistics information company has bought
Tradevision AB, a provider of data transfer technology
for air cargo management.
http://news.joc.com/cgi-bin7/flo?y=eEem0BejkZ0BbA0S1B0A2

SNAME ELECTS ROSENBLATT
The Society of Naval Architects and Marine Engineers
has elected Bruce S. Rosenblatt as its new president.
http://news.joc.com/cgi-bin7/flo?y=eEem0BejkZ0BbA0S1C0A3

...and exclusively in JoC ONLINE
EXPORT ABCs by Frank Reynolds
INFORMATION, PLEASE
From books to industry associations to Web sites, there's
a wealth of really useful information waiting for the
inquiring exporter.
http://news.joc.com/cgi-bin7/flo?y=eEem0BejkZ0BbA0S1D0A4

...and only in JoC WEEK
TEAMSTERS TARGET PORT DRAYAGE
Backed by the ILWU and the ILA, the Teamsters will
ask unionized trucking companies to enter the
harbor-hauling business. Not everyone is convinced
the plan will work.
To subscribe, visit
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*********************************************************************
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===============================================================
SCIENTECH IssueAlert, November 15, 2000
Utility.com Uses $22M Financing to Grow eUtilities Partnerships
By: Will McNamara, Director, Electric Industry Analysis
===============================================================

Utility.com announced that it has completed its third round of venture
financing, raising over $22 million. Gaz de France, one of the top three
European gas companies, led the deal. Utility.com will use funds raised
in this third round to support operations as it implements its eUtilities
Program partnerships, which it has formed with traditional utilities in
the United States and abroad.

ANALYSIS: Financing from venture capitalists seems to be the theme of the
week. Just yesterday, I wrote about SmartEnergy finishing its Series A
round of financing, in which it received $15 million from a mix of American
and European investors that included Alliant Energy as a major contributor.
In my analysis, I mentioned Utility.com as a competitor of SmartEnergy,
and argued that the latter appeared to be moving along more aggressively
with a plan to become operational in all 25 deregulating U.S. states and
across Europe. About an hour after I distributed my column, Utility.com
announced this significant round of financing, which certainly rejuvenates
its position as "the world's first Internet utility."

If case you are not familiar with Utility.com's business model, the company
offers electricity, natural gas, telephone and Internet access to customers
in competitive markets. In fact, as individual U.S. states have moved closer
to competition, it seems as if Utility.com has begun operating in all of
those states. Its marketing strategy has been to promote cost savings,
reliability and the convenience of operating online. In addition, with
the bundled services of various offerings, Utility.com promotes a "one-stop
shopping" approach for multiple services, with billing and customer services
all available online.

As noted, Gaz de France led this third round of financing for Utility.com.
It seem curious that Gaz de France would be such a primary participant
in the investments, but keep in mind that Europe continues to privatize
its gas and electricity markets. Gaz de France, along with its electric
counterpart EDF, is investing in various energy companies to both learn
about new competitive techniques and financially benefit when competition
opens fully across Europe. Utility.com, of course, benefits because Europe,
when it does privatize completely, will represent a very lucrative energy
market and one that could potentially exceed the U.S. energy market.

Joining Gaz de France in the investment in Utility.com are some heavy hitters,
both traditional utility companies and investors that are banking on the
hope that companies like Utility.com will start capitalizing from deregulation
in the near-term. The list of investors is impressive: Southern Company
Energy Marketing, Sempra Energy Trading, idealab!, idealab! Capital Partners,
Trident Capital, PRIMEDIA Ventures, Kinetic Ventures, TL Ventures, Moore
Capital Management, and Sumitomo Corporation of Japan. As noted, this was
Utility.com's third round of investments, and all previous investors
contributed
again in this round.

Utility.com's relationship with Southern Company is one of the foundations
on which the company was built. Southern Company was one of the original
investors in Utility.com and serves as the company's preferred wholesale
provider. What this means is that, as Utility.com markets electricity to
customers across deregulated markets, the power is typically coming from
Southern Company. In previous discussions I've had with Chris King,
Utility.com's
CEO, he has reiterated that, although Southern Company is a preferred
provider,
it is not Utility.com's only provider. "Southern has given us very good
pricing, and we've taken advantage of their scale economies, being the
largest energy generator in the country," King told me a few months ago.
"But we don't use them exclusively to ensure that we get competitor pricing
from them. If they ever give us a price that we don't like for whatever
reason, we can go out and get a price from somebody else."

It seems pretty clear that Utility.com will use this financing to grow
its unique eUtilities Program partnerships, along with expanding its core
operations. Its eUtilities partnerships are focused on co-branding and
co-marketing of services with specific utility companies. For instance,
Utility.com has formed eUtilities partnerships with Kansas City Power and
Light and FirstEnergy. The eUtilities program enables Utility.com to put
together a co-branded site where it can sell energy and other related
services.
The program also has helped Utility.com to expand into states before
deregulation
has opened competition. For instance, in Missouri*a state that is still
regulated*customers can sign up with Utility.com and still have all of
their utility services consolidated into one online package. Even without
savings generated from deregulation, many customers are still finding value
in the convenience that Utility.com offers.

Just in the last month, Utility.com also began working with electric
cooperatives.
The company formed a partnership with EnPower, a consortium of member electric
cooperatives providing energy products and services in Iowa, Illinois,
Minnesota, North Dakota, South Dakota, and Wisconsin. Utility.com will
provide participating EnPower member cooperatives with UtilityOne, an
information
technology and Internet infrastructure platform for utility services.
UtilityOne
supports marketing and provisioning of multiple utilities over the Internet
and serves Utility.com's electricity, telecommunications and Internet
customers
across the country. This move follows an expansion of Utility.com's
telecommunications
offerings with the introduction of Utility.com Long Distance. An introductory
plan called Utility.com Common Cents offers 100 free minutes of long-distance
service to customers for state-to-state calls during the first month of
service. Utility.com hopes to offer this service to customers in 48 states
by the end of this month.

Of course, as I discussed in my analysis of SmartEnergy, it is natural
to speculate on whether or not Utility.com is gearing up for an IPO. When
I spoke with Chris King last summer, he admitted that going public "is
always something you have in mind when you have a company like this." As
Utility.com continues to find willing investors that will support its intended
growth, an IPO would be a natural progression as Wall Street currently
favors energy company stocks that are involved in technologies. Utility.com
does face stiff competition, of course, and SmartEnergy is perhaps the
leader of that group. Another competitor is Essential.com, which offers
a very similar service offering to Utility.com. Both Utility.com and
Essential.com
are licensed energy providers, meaning that they contract with wholesale
providers to purchase energy that they will resell to end-users. Both
companies
are responsible for all forecasting and settlement issues, which can be
difficult when working with different states. Yet one key difference that
Utility.com offers is its partnerships with utilities. By partnering directly
with utilities such as Southern Company, Utility.com by association gains
the powerful brand identity of companies that energy customers already
trust. This is a strategy that SmartEnergy also is using by partnering
with Alliant Energy. As additional states deregulate, it will be very
interesting
to see which of these online providers gain a significant market share,
and whether or not a large percentage of energy customers will want to
conduct their utility transactions online.
===============================================================
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Just wanted to point out some very important people who are riding on our
team:

ALL 378 OF YOU !!

Some of us are better known than others, however, and you may enjoy knowing
that you're riding with:

Jeff Skilling, President & Chief Operating Officer of Enron
Wendy Gramm, Enron Board Member and wife of Senator Phil Gramm
Pauline Chiou - Channel Two Morning News (the early-bird MS150 rookie)
Judge Robert Eckels (don't bother him with your parking tickets- he will be
busy surviving)
Judge Mike Fields (the man with a mission - has a very good friend with M.S.)
Senator Phil Gramm's entire staff (back for the third year.  If '98 didn't
scare them off, nothing will.)

And here's the latest team list - be sure to let me know if we're missing
anyone!
We have 378 registered and 366 riding!


John,

I am attaching a spreadsheet that outlines the exponential volatility concept we talked about yesterday. Paulo and I will give you a call after 3:00 PM, as we also have an short excerpt from a book that deals with this in a little more depth - you might be interested in reading it.

Tom