Sheri

Provided there is no other documentation which the counterparties have agreed
to which sets out the form of the Confirmation, it may be easier to change
the definition of Confirmation Letter, simply to state that a letter will be
sent confirming the Transaction, leaving us the flexibility to decide what
the form and substance of that document should be from time to time.

Marcus

	Sheri Thomas/ENRON@enronXgate
	05/01/2001 02:29 PM

		 To: Marcus Nettelton/NA/Enron@ENRON, Melissa Ann Murphy/HOU/ECT@ECT
		 cc: Kim S Theriot/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Mark
Taylor/HOU/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT, Elizabeth Sager/HOU/ECT@ECT,
Jennifer deBoisblanc Denny/ENRON@enronXgate
		 Subject: RE: EOL GTC Confirms

I have checked the site today, and we do not show Exhibit A on the website
(if it is there, I sure can not find it....).  Do you all (Legal) think that
we should going forward since we are going to eliminate sending the GTCs with
our confirms?

Thanks
Sheri

 -----Original Message-----
From:  Nettelton, Marcus
Sent: Tuesday, May  1, 2001 8:44 AM
To: Murphy, Melissa Ann
Cc: Thomas, Sheri; Theriot, Kim; Jones, Tana; Taylor, Mark; Hodge, Jeffrey;
Sager, Elizabeth
Subject: Re: EOL GTC Confirms

Melissa

Attached is the suggested template for physical power confirmations as
discussed.

 As you know the "Confirmation Letter" is defined in the GTCs as being in the
form attached as Exhibit A to the GTCs, any changes to the confirmation that
the counterparties can expect to receive should also be reflected on the
Website in Exhibit A.

Kind regards,

Marcus

 << File: EOL GTC Template.doc >>

	Melissa Ann Murphy@ECT 04/30/2001 04:51 PM 	   To: Marcus
Nettelton/NA/Enron@ENRON  cc:   Subject: EOL GTC Confirms

Hello, I wanted to make sure I understand where the new language is to be
inserted in our EOL GTC confirmation letter.  Bob Bowen was telling me they
are putting the new paragraph at the beginning of the confirm letter.  The
only problem I see is that we have the trade date and the energy type (firm
energy, etc.) in the first paragraph as well.  We also already have language
in the last paragraph about returning the confirm to us within 2 days.

Please look at the following template and let me know where you would prefer
to see the language added.  We are planning on changing our templates
tomorrow morning.

 << File: EOL GTC Template.doc >>

Thanks,
Melissa
3-1886


Is the market receptive to our game plan?


Steve,

Your access to LiveLink has been confirmed.  The link below will take you
directly to the application.  The LiveLink team has offered to provide you an
overview on navigating through the system.  At your convenience, they will
send someone to your desk to give you the quick the tutorial.

Thanks,
Marie
----- Forwarded by Marie Hejka/Corp/Enron on 02/15/2001 11:24 AM -----

	Marie Hejka
	02/14/2001 06:02 PM

		 To: Steven J Kean/NA/Enron@Enron
		 cc: Maureen McVicker/NA/Enron@Enron
		 Subject: LiveLink

Steve,

I've requested you be given access rights to LiveLink.  This should be
completed by tomorrow morning.  I will notify you when it is complete.

After, use the url below to take you directly to the folder in Livelink where
the IM project information is housed.

http://edms.livelink.enron.com/ena/livelink.exe?func=ll&objId=7579535&objActio
n=browse&sort=name

Marie


Fernley  / Sally

Off and on ( with Jackie Gentle's help ) I have pulled together a one page
communication note on our fundamental operating standards ( itself a one page
summary ).

We are in the final stages of this process  - where we draft a cover letter
for John which will introduce this for inclusion within Globalflash ( the
Enron Europe newsletter )

Have you any thoughts on draft or cover note ?

Mike


---------------------- Forwarded by Kay Mann/Corp/Enron on 04/19/2001 12:27
PM ---------------------------
   Enron Americas - Office of the Chairman
From: Enron Americas - Office of the Chairman on 04/18/2001 11:00 PM
Sent by: Enron Announcements
To: ENA Employees
cc:
Subject: Asset Marketing

We are pleased to announce the creation of a new group - Asset Marketing -
within Enron Americas. The Asset Marketing group will have responsibility for
the asset divestment function within Enron Americas and work with Generation
Investments on selected portfolio acquisitions as well as managing power
origination funding requirements with Treasury.

Don Miller will head the Asset Marketing group and will report directly to
the Office of the Chair, Enron Americas. Joining Don's group will be Stuart
Zisman.  Stuart was formerly in ENA Legal, having most recently worked on the
sale of ENA's peaker plants with Don.

Please join us in congratulating Don and Stuart in their new roles.


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 08/16/2000
05:10 PM ---------------------------

Alex Huang@ENRON
08/15/2000 05:57 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject:

Vince,
The book "Power Economics" can be downloaded from
http://www.stoft.com/

Best,
Alex


Okay, folks let's try this again!

This conference call has been re-scheduled as follows:

Please consider this notice & confirmation of a conference call, per Jeff
Dasovich and Steve Kean,
with Laura Tyson and Marybeth Shubert, Berkeley Business School, as noted
below:

 Date:    Thursday, May 10th
 Time:  2:30 PM PDT/4:30 PM Central
 Call-in No.: 1-888-296-1938
 Code No.: 529952
 Jeff only (as host): 850022

Thanks in advance for your participation,

Joseph Alamo
Sr. Administrative Assistant
Government Affairs - The Americas
San Francisco CA

---------------------- Forwarded by Joseph Alamo/NA/Enron on 05/09/2001 02:51
PM ---------------------------

	Joseph Alamo
	05/08/2001 05:44 PM

To: Jeff Dasovich/NA/Enron, Steven J Kean/NA/Enron@Enron,
schub@socrates.berkeley.edu
cc: Maureen McVicker/NA/Enron

Subject: Conference Call Confirmation

Please consider this notice & confirmation of a conference call, per Jeff
Dasovich and Steve Kean,
with Laura Tyson and Marybeth Shubert, Berkeley Business School, as noted
below:

 Date:    Wednesday, May 8th
 Time:  1:30 PM PDT/3:30 PM Central
 Call-in:  1-888-476-3752
 Code No.: 735045
 Jeff only (as host): 780468

Thanks in advance for your participation,

Joseph Alamo
Sr. Administrative Assistant
Government Affairs - The Americas
San Francisco CA
(415) 782-7841

Marybeth Schubert <schub@socrates.berkeley.edu> on 05/08/2001 06:25:37 PM
To: joseph.alamo@enron.com
cc:

Subject: conference call with Steve Cain and Jeff Dasovitch

Joseph:

Laura Tyson and I will be available for a conference call with Steve
Cain and Jeff Dasovitch tomorrow afternoon at 1:30 pacific.  Dean
Tyson will be at the Westin William Penn Hotel: 412-281-7100.  I will
be at 505-820-6721.  I'd appreciate it if you would coordinate
details with Jeff.  Marybeth


Jon,

Grateful if you could complete the picture for me and for Mark Taylor.    Is
MG London Inc. the entity that is the Clearing Member of NYMEX + a Futures
Commission Merchant and Commodity Trading Advisor?   Do any other (MG)
entities have similar registrations, and if so, what are these?

Thanks

Justin

---------------------- Forwarded by Justin Boyd/LON/ECT on 31/07/2000 20:47
---------------------------
From: Mark Taylor on 28/07/2000 16:44 CDT
To: Justin Boyd/LON/ECT@ECT
cc:

Subject: MG

Justin:

Do you know whether we have acquired any companies with CFTC registrations of
any kind (e.g. Commodity Trading Advisor or Futures Commission Merchant)?  I
was wondering who was responsible for compliance matters if we have.

I hope you're well and all my best to Fran.

Mark


Ted, Bjorn,

Any info about this position?

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 07/26/2000
08:19 AM ---------------------------

	Enron Capital & Trade Resources Corp. - Europe

	From:  Anjam Ahmad                           07/26/2000 03:55 AM

To: Esther Gerratt/LON/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT, Andreas.Barschkis@mgusa.com @ ENRON, Tanya
Tamarchenko/HOU/ECT@ECT
Subject: John Sherriff's Copper Position

Hi Esther,

I just talked to John Sherriff about his "Enron" copper position.  I suspect
that this is not currently being captured within the MG Mercur position
database - he would like to have that included in the VaR spreadsheet and
shown as a separate line.  Do you have any information regarding this deal
(i.e. position sizes, qualities etc.) or be able to direct me to someone who
may be able to assist in getting this information?

Thanks,

Anjam
x35383


Mary,

See the attached responses to your inquiries.  Supporting documentation that
we could provide has been delivered to you.  Please let me know if you have
any questions.


Hi Vince,
The following is what I wrote to Molly as she prepares the contract for me to
work with Enron.
I thank you for allowing me to work with Enron and will do all that I can to
make you happy with my candiates and performance.
Thank you for you support Vince.
Will check in soon,
Jeff
********************************************************
Sorry about the mix-up on the email Molly.
I hope you get this one.

As most good corporations like Enron have predefined contractual arrangements
to do Executive Search business I will be happy to abide by your terms and
rules.
And to be quite honest- Enron is about the "best it gets" so, I prefer to not
draft a contract this time or for this relationship- I will wait for yours to
be signed by me.  The only stipulation I request of you is that upon
contractual performance, Enron Accounts Payable please wire my funds to my
account as I have a multi-currency account denominated in USD/Canadian or
British Pounds (which ever fits you as I may need to pay my counterparts in
the UK)...other than that I have no perplexities.
I will send you my wire instructions later, either my bank in California or
in Bermuda.
As I live in California and do contingency search, I must go off of my
client's "good word" on occasion and luckily haven't had any problems so
far...I always honor California Verbal Contract Law -if I do not draft.
I think you fee payment of 20% is generous and the industry standard of 30
day guarantee on replacement is fair. Obviously there is no deposit on any
contingency and if there is a definite urgent need for a position to be
filled only then will I ask your help for a minor deposit to aid in my
overhead to shift all my resources to search on behalf on Enron.
As Enron has the in-house power to probably not need this service then
obviously a deposit will not be required.
If you wish me to send my standard agreement then I will, but you have made
yourself perfectly clear by phone what you are willing to do. I therefore
will be happy to receive you contract and follow your instructions.
I thank you and Vince for allowing me to work with Enron and pledge to you my
best work and candidates utilizing my network of contacts.
I am very excited about our new relationship and hope to give you my very
best service.
Thank you very much for this opportunity Molly, please send my your contract
so, that I may sign it and send it right back to you immediately. I am
looking forward to working with Vince and you.
Thank you again,
Jeff Wesley

Ps- I can utilize to resources of Management recruiters International USA and
Robert Walters of the UK to aid in my service to you.
Best regards,
Jeff Wesley

*  Get free, secure online email at http://www.ziplip.com/  *

 - PRIVATE9498132241original.doc
 - STATEMENT9498132241origina.doc


RIGZONE DAILY NEWS -- TUESDAY, FEBRUARY 19, 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=225
------------------------------------------------------------


Sally, please review the attached spreadsheet of HPL Energy Operations
employees and their status relative to the AEP transfer.
 Please call if you have questions.


Today is a big day for ENRON!  This morning, we are rolling out the next step
toward empowering our most valuable resource -- you.  As of this morning,
most of you have access to the new eHRonline intranet site.

The new eHRonline functionality (a feature of the SAP implementation) is very
easy to use and is accessible through the Enron intranet (at
http://ehronline.enron.com).  Using eHRonline, not only can you enter your
own time, but also maintain your profile, and update personal data, including
home address, phone numbers, W-4 changes and emergency contact information.
Additionally, you will be able to view your individual pay advice and benefit
elections.

Remember the deadline for time entry is 3:00 pm CST, on June 30th -- all time
must be submitted and ready for payroll processing.  Because this is the
first period using SAP to record time, please work closely with your
timekeeper to ensure the deadline is met. By now, you should have received a
note from your timekeeper.  However, if you have not and are unsure who your
timekeeper is, please call the Site Manager for your Business Unit.  Their
names and numbers are listed below.

Because of the size of this rollout, we have to expect a few "bumps in the
road."  So, we,re asking you to be patient and work with us over the next few
weeks.  If you have questions, are experiencing problems, or would like more
information, please contact the Center of Expertise (COE).

Center of Expertise (COE)
The Center of Expertise can help answer many of your questions and provide
you with assistance if you are experiencing problems.  The COE is available
24 hours a day from Monday at 7:00 am CST through Friday at 7:00 pm CST.  You
can contact the COE:
Via phone at (713) 345-4SAP (4727)
COE website:  sap.enron.com (contains job aids, instructional materials,
forms and policies)
Via Lotus Notes at SAP COE/Corp/Enron
Via internet email at sap.coe@enron.com

BU Site Managers
Enron North America
 Cindy Morrow, (713) 853-5128
 Yvonne Laing, (713) 853-9326
Global Products
 Shelly Stubbs, (713) 853-5081
 Yvonne Laing, (713) 853-9326
Global Finance
 Jill Erwin, (713) 853-7099
 Yvonne Laing, (713) 853-9326
Gas Pipeline Group
 Michael Sullivan, (713) 853-3531
 Greg Lewis, (713) 853-5967
 Diane Eckels, (713) 853-7568
Global E&P
 Diane Eckels, (713) 853-7568
Enron Energy Services
 Bobby Mahendra, (713) 345-8467
 Daler Wade, (713) 853-5585
Corporate
 Todd Peikert, (713) 853-5243
Enron Renewable Energy Corp
 Joe Franz, (713) 345-5936
 Daler Wade, (713) 853-5585
Enron Investment Partners
 Yvonne Laing, (713) 853-9326

Job Aids and Reference Guides
Finally, the Apollo & Beyond training team has developed several useful
reference guides that you can access via the SAP website at sap.enron.com

Also, a brochure will be delivered to your mailstop today.  This brochure
provides step by step instructions on how you can use eHRonline to view and
update your personal information.


ask mom


Caroline,  My comments are attached for your consideration.  Thank you, Michelle

(My fax number is 713-646-8537; I will look forward to receiving copies of the documents you mentioned.  Thanks.)

 -----Original Message-----
From: 	Schaeffer, Caroline
Sent:	Thursday, November 15, 2001 12:10 AM
To:	Duenner, Anthony
Cc:	McBride, Jane; Hicks, Michelle; Trieschman, Paul; Goh, Chor Lim
Subject:	Litigation Threat

Anthony,
I am going to send you via fax a letter we received from Jim Weisser yesterday.  Attached is our response.  Basically, he was upset that we hadn't responded yet to his letter of last week.  Please let me know if you are ok with this letter, and we will send over a final copy via fax for your signature.  Michelle, I will send a copy your way as well, in addition to yesterday's letter, our response to the first letter, and the legal advice we received from Freshfields.
Pls. let me know if you have any questions.
Thanks,
Caroline
 << File: Letter to Jim Weisser11.14.01.doc >>


-----Original Message-----
From: 	Prior, Liz
Sent:	Friday, October 12, 2001 9:59 AM
To:	Storey, Geoff; Mims, Patrice L.; Lenart, Kirk; Oh, Grant; Le Dain, Eric; Drozdiak, Dean
Subject:	ALLIANCE CAPACITY ASSIGNMENTS

Alliance has said anyone that may be taking assignment for service for the new gas year needs to be placed on the approved bidders list immediately to be eligible to take assignment for November 1.

FYI - I know you guys have been talking about service


Are you handling this?
----- Forwarded by Richard B Sanders/HOU/ECT on 03/22/2001 04:08 PM -----

	Becky Stephens/ENRON@enronXgate
	03/20/2001 03:43 PM

		 To: Richard B Sanders/HOU/ECT@ECT
		 cc: Linda R Guinn/HOU/ECT@ECT, Bonnie White/ENRON@enronXgate, Andrew
Edison/NA/Enron@Enron
		 Subject: service of process

The following documents, received today, have been forwarded for your
immediate attention:

MCNIC Pipeline & Processing Company v. Crown Energy Corporation, Crown
Asphalt Corporation, et al.; No. 1220024039, JAMS.  SUBPOENA DUCES TECUM and
CHECK to Enron Capital & Trade Resources Corp. by process server on 3/19/01.

PLEASE ADVISE IF YOU DO NOT RECEIVE WITHIN 1 BUSINESS DAY.

Thank you !!

Becky A. Stephens
Support Services Coordinator
Enron Litigation Unit, EB4809
713/853-5025
713/853-6576 (fax)
Becky.Stephens@enron.com


Jamie; I wanted to exchange crucial phone numbers and contacts with you.  If you'll reciprocate with key contacts for Express Pipeline I would appreciate it.

If for some reason I am unavailable and you wish to either purchase or sell MW volumes, please feel free to contact Diana Scholtes on (503) 464-3807.

Our Pre-Schedule (one day or longer scheduling requirements) phone number is 1-877-464-7779.  The two ladies most involved with scheduling loads in the Montana region are Stacy Runswick (503) 464-3747 and Cara Semperger (503) 464-3814.

Our 24-Hour Real-Time (less than one day up to the next hour) phone number is 1-800-684-1336

You have my office phone number (503) 464-2270 and my cellular phone number is (503) 701-0295.

I do not anticipate you needing anyone's number but my own, nor do I anticipate having to contact anyone but you, but I did want to exchange this information just in case.

Once again we appreciate the opportunity to serve your Montana loads, and look forward to working together in the future.

John


CALENDAR ENTRY:	APPOINTMENT

Description:
	Tammy J. Training Courses that will be good for group.

Date:		2/6/2001
Time:		1:30 PM - 2:30 PM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


are you not getting the stuff.  is there another paul smith?


Dear Sara,

It's February and that means it's time to start getting your tax returns
prepared, making your IRA contributions for the last year and it's a great
time to start planning for this year. The subject of this month's newsletter
talks about how ShareBuilder (Netstock's online brokerage) can help you with
all of those things.

SHAREBUILDER & H&R BLOCK PARTNER: JUST IN TIME FOR TAXES!
I am pleased to announce ShareBuilder has partnered with H&R Block to offer
you access to their premiere Online Tax Program. Just go to
http://www.hrblock.com/taxes/partners/netstock/index.html to get started. We
thought it would be timely to offer an online tax resource to all
ShareBuilders with services ranging from tax advice to complete professional
tax preparation.  H&R Block combines 46 years of tax experience, the
knowledge of a nationwide network of tax professionals, and now the speed and
convenience of the Internet. The comprehensive list of H&R Block services
available include:

Ask a Tax Advisor - Quick, accurate answers from knowledgeable tax
professionals.

Professional Tax Service - Professional tax preparation combined with the
convenience of the Internet.

Online Tax Program - A do-it-yourself online tax preparation and filing
program, and a downloadable version of Kiplinger Tax Cut software.

Professional Review - You prepare your return, then H&R Block professionals
check for possible errors and provide tax-planning tips for next year.

Electronic Refund Advance - Allows you to receive a tax refund advance.

INVESTING ISN'T A SCIENCE... IT'S A DISCIPLINE
In January I talked a little about why it is important to think about
diversification. Whether you are new to investing or have been for a while,
you've probably witnessed the stock market's volatility over the past year.
It's important to realize you have to manage your investment risk and there
are some simple investing strategies that can help.

Once you have determined the amount you can invest each week or month, the
next step is to create a diversified portfolio that meets your long-term
goals. If you're only investing in one or two stocks each month, you're
putting all the risk into the performance of those specific stocks.
Increasing the number of securities in your portfolio can help you by
spreading risk among a broader group of stocks. To set up a ShareBuilder
Plan, just go to http://www.sharebuilder.com/sharebuilder/account/index.asp
and select "ShareBuilder Plan".

INDEX SHARES... AN EASY WAY TO DIVERISIFY!
Another great way to add diversification is by adding Index Shares to your
portfolio. Index Shares are securities that represent the composition of a
broad-market, specific sector, or international index. With Index Shares you
instantly get exposure to a portfolio of stocks.

Here are the Top-10 Index Shares available through ShareBuilder:
? QQQ - Nasdaq-100
? SPY - S&P 500
? DIA - Dow Industrials
? XLK - AMEX Technology Select
? XLE - AMEX Energy Select
? XLF - AMEX Financial Select
? IWB - iShares Russell 1000
? IWM - iShares Russell 2000
? IYH - iShares  US Healthcare Sector
? IYF - iShares US Financial Sector

THE SHAREBUILDER NO FEE IRA: A POPULAR CHOICE!
In December we introduced the ShareBuilder No Fee IRA, which allows you to
setup automatic monthly funding for your retirement account. You can invest
in a portfolio of stocks automatically through monthly contributions, just
like you would a regular ShareBuilder Plan! This IRA lets you effortlessly
get invested throughout the year to help fund your retirement.

Instead of writing a last-minute check for $2000 (and missing a whole year of
investing), open a ShareBuilder IRA now. Not only do you still have a chance
to contribute for 2000 taxes (before April 15th 2001), you can also set up an
investment plan for 2001! Simply select the stocks you want to invest in,
specify your monthly contribution, and the account will run automatically.
You will be investing your funds throughout the year without your having to
think about it. Just go to
http://www.sharebuilder.com/sharebuilder/promotion/index.asp?promocode=iraedu
to get started today!

Regards,

Jeff Seely
President & CEO
Netstock Corporation

P.S. You are receiving this email because you have a Netstock Direct Account
setup with us. You may unsubscribe, update or change your e-mail preferences
by visiting http://www.netstockdirect.com and selecting "Your Account".

Copyright 1999-2001 ShareBuilder Securities Corporation, a registered
broker-dealer and Member NASD/SIPC, and a subsidiary of Netstock Corporation.
ShareBuilder is a trademark of Netstock Corporation. Patent Pending.

This email was sent to:  sshackl@ect.enron.com


David,

The "gardening leave provision would apply beyond the term.

I will make your tweak to 3.4.

I checked the 12-months with Clayton Utz, and they thought it was ok.

I'll forward a new draft in the next day or so.  Hope you had a good trip
back.

MIchelle

David Minns@ENRON_DEVELOPMENT
10/29/2000 10:44 PM
To: Michelle Cash/HOU/ECT@ECT
cc:
Subject: Re: Employment Agreement

Michelle thanks, Only one point -  it was my understanding that the
"gardening leave" provision would also apply to a resignation after the end
of the 2 year period. In other words if I resigned in 4 years (and assuming
no further service contract had been put in place) the company could prevent
me taking another job for upto 3 months after the termination if there was
pay for that period.

Two other points;
The new paragraph in 3.4 could be read to infer that the Monthly Base Salary
for the non-compete period would be paid up-front. Would it be safer to pay
monthly conditional upon compliance with the obligations?
Have we thought about the enforcability of the 12 month non-compete for
resignations during the term? This is not a concern to me and I am content
with the existing arrangement for my contract. However, as a far as the
precedent is concerned I would like a provision we could definitely enforce.

I will call you tomorrow to discuss.


Submit a Pac request and keep Tom posted on when and where.

	Cynthia Sandherr
	09/07/2000 05:05 PM

		 To: Steven J Kean/NA/Enron@Enron, Joe Hillings/Corp/Enron@ENRON, Elizabeth
Linnell/NA/Enron@Enron, Joe Hillings/Corp/Enron@ENRON, Carolyn
Cooney/Corp/Enron@ENRON
		 cc: Rosalee Fleming/Corp/Enron@ENRON, Thomas E White/HOU/EES@EES
		 Subject: Congressman Edwards (D-TX)

Steve:  Congressman Chet Edwards is having a fundraiser in Houston, October
10th, 5:30-7:30 p.m. at Reliant's Bruce Gibson's home in River Oaks (2178
Troon).  Drayton McLane will attend.  They are looking for $1000 to host or
$500 sponsor.  Congressman Edwards has been very helpful with our defense
procurement issues, and we have contributed to him recently.  The
Congressman's main request was to include Ken Lay's name on their invitation
which Ken Lay graciously agreed to do so the Congressman is most pleased.
Thus, the remaining request to attend and give additional money is up to you,
although if we have room in our budget and Ken Lay or Tom White were
available, I would recommend their attendance.


Mr.  Drexelius,

	Per Barry Tycholiz request, attached is the letter agreement for assignment and payment for the Kern River Capacity.  Please execute immediately and fax to my attention at (713) 646-3490.  Upon receipt I will forward to Barry for decision to execute or not by 1:00 pm.  Thank You for your prompt attention to this matter.


HERE IS A FINAL WORD ABOUT BLOOMBERG TRADES -

WHEN YOU EXECUTE A TRADE ON BLOOMBERG, YOU MUST IDENTIFY "BLOOMBERG" AS THE BROKER IN ENPOWER. IF YOU FIND THIS MESSAGE UNCLEAR, MORALLY OPPOSING, OR IF YOU'D LIKE A LENGTHIER EXPLANATION OF WHY YOU HAVE TO DO THIS, PLEASE LET ME KNOW IMMEDIATELY.

HERE'S WHAT YOUR BLOOMBERG DEALS SHOULD LOOK LIKE:

<Embedded Paintbrush Picture>


did you mail off the power bill?


Keep pushing these guys.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 11/12/2000
03:48 PM ---------------------------

Janet R Dietrich
11/06/2000 03:09 PM
To: Ozzie Pagan/HOU/ECT@ECT, David W Delainey/HOU/ECT@ECT
cc:
Subject: Ronnie Lee-Walton

I called Ronnie Lee to invite him to the New York Christmas party (he'll
probably come) and we had a lengthy conversation about what they're doing
right now.
It sounds like they are down to 4 counterparties on their previous "asset
management" solicitation:  Enron, Southern, Duke and Williams.  Williams is
their first choice at the moment purely driven on price. It sounds like
Williams is willing to effectively provide natural gas at a  below-market
fixed price. Both Williams and Duke were comparable on price. Enron and
Southern are close on price and just behind the Duke/Williams pricing.
Although Ronnie claims everyone is "right there together", the small pricing
difference is significant when looked at over 15 years. Williams will be with
Ronnie soon (next couple weeks) to begin discussing contract language. He
says documents aren't signed and I can tell he really wanted us to be at the
table. We priced our last deal to him about 4 weeks ago and I believe the gas
curve was higher than it is currently. Ronnie agrees that it would be
worthwhile to reprice our deal since the prices were so close before. He said
Jackson has  now joined Walton, Colquitt, and Satilla and they would like to
come to terms on a definitive document in the December/January timeframe.

I talked with him about Oglethorpe and Tom Smith, and he was very interested
to find out we'd been meeting with them. He thinks Oglethorpe will only keep
about 40% of the existing Oglethorpe load. He'd like to sit down and talk
thru all this after we re-price our deal and I told him that Ozzie would be
in touch to try and set up a time.

Although I hadn't really planned to call Ronnie on this, I thought it
probably wouldn't be bad to stir things up a bit!


Please see this week's Inside FERC for stories titled, "Wood Insists Enron Exercised 'No Undue Influence' at Commission." (p.1), "Federal Agencies Preparing for Alaska Pipeline Certificate Request" (p.1), and "Dienstbier 'Minding the Store,' Plotting Strategy at Northern Natural" (p.3).
Please see today's Gas Daily for stories titled, "AGA Sets R&D, Pipeline Safety as 2002 Priorities" (p.4), and "Enron Name Change Not 'In the Works' Spokesman Says" (p.5).
_______________________________
Pipelines, power keeping Enron afloat through bankruptcy
Associated Press, 02/22/2002

USA: U.S. FERC admits 25 contacts with Enron officials.
Reuters English News Service, 02/22/2002

Paper - Nuon interested in taking over from Azurix .
Business News Americas, 02/22/2002

BG India E&P, LNG Invest To More Than Double Over 3-5 Yrs
Dow Jones Energy Service, 02/25/2002

SINGAPORE: Enron Japan's creditors may be left empty-handed.
Reuters English News Service, 02/25/2002

Enron Got $1.2B In Loans From US Agencies For Pwr Plants
Dow Jones Energy Service, 02/24/2002

UK's BG CEO To Raise Field Mgmt Row With India Govt Tue
Dow Jones Energy Service, 02/25/2002

Senate Prepares to Take Up Broad Energy Legislation
Dow Jones Business News, 02/24/2002

California Governor Considers Delaying Phasing Out Gas Additive MTBE
Dow Jones Business News, 02/22/2002
**********************************************************
Pipelines, power keeping Enron afloat through bankruptcy
By KRISTEN HAYS
Associated Press Writer

02/22/2002
Associated Press Newswires
Copyright 2002. The Associated Press. All Rights Reserved.

HOUSTON (AP) - Enron Corp.'s pipelines may not be as sexy as the company's self-touted ability to create lucrative commodity markets, but they aren't bankrupt.
Pipelines and power plants are the company's main source of steady income these days. They also will be at the core of the humbled Enron that officials hope will emerge - with a new name - from the largest bankruptcy in history.
"It's going to be an uphill battle in persuading the creditors that it's a reorganizable platform," restructuring specialist Stephen Cooper, Enron's interim chief executive, said in a voicemail Friday to employees.
"We've got a tremendous sales job in front of us," Cooper said.
Earlier this month Swiss investment bank UBS Warburg launched a new trading operation, UBS Warburg Energy, with a work force comprised mostly of about 625 former Enron traders and support staff. UBS Warburg paid nothing up front for what used to be the source of most of Enron's income but agreed to give Enron 33 percent of the new organization's profits.
Enron agreed before filing for bankruptcy in December to sell its Portland General Electric Co. utility to Portland, Ore.-based Northwest Natural Gas Co. The utility will remain a revenue generator for Enron until the sale closes in the third or fourth quarter this year.
Enron is trying to unload money-losing ventures, such as its broadband unit with its 18,000-mile fiber optic network. This week the company sold its wind power subsidiary to General Electric Co. for an undisclosed price, and its oil and gas assets in India to Britian's BG Group PLC for $350 million.
While Houston-based Dynegy, Inc. last month acquired Enron's largest asset, the 16,500-mile Northern Natural Gas pipeline, Enron still operates 11,000 miles of other pipelines in the U.S. that aren't part of its bankruptcy, spokesman John Ambler said.
He said the company has yet to decide what to sell among its international power, oil and gas assets, but operations in Brazil and Bolivia are the most likely keepers, he said.
"These are ongoing operations that are not party to the bankruptcy and they are all bringing in good returns and cash flows," Ambler said.
John McCormack, senior vice president and head of the energy practice at New York corporate financial advisor Stern Stewart & Co., said Friday Enron creditors stand to get more cents on the dollar if they accept equity in those assets with the reorganized company.
"I have no doubt that there are significant pieces of Enron businesses that are worth a lot more alive than dead," McCormack said.
Anthony Sabino, a bankruptcy professor specializing in oil and gas law at St. John's University School of Law, said the pipelines and power operations may appear pitiful next to the billions of dollars in debt owed to Enron's 800-plus creditors. But they are steady.
"It may not be flashy, but that's good money that comes in month after month," Sabino said. "Chances are creditors will go for something like cash up front, some payments over time and probably a lot of equity in the newly reorganized company."
A key element to Enron's survival is whether workers at those operations stick with the company through bankruptcy.
Enron officials Friday presented a plan to pay retention bonuses and severance packages to current employees to the creditors committee, according to Cooper's voicemail. If approved, he said the plan will later be presented to U.S. Bankruptcy Judge Arthur Gonzalez.
"At the moment I can't make any assurances relative to ongoing employment, and certainly there's nothing I can do to replace what many of you have lost," Cooper told employees.
Enron imploded last year amid revelations of accounting abuses and financial partnerships used to hide debt and inflate profits. More than one-fifth of the company's workforce of 25,000 abruptly was laid off, and workers with 401(k) accounts loaded with Enron stock evaporated when shares dropped to less than a dollar.
In addition to a new name - which has yet to be determined - Enron is planning to find new digs in the next year or two to match its pared-down needs, Enron spokesman Mark Palmer said.
Enron leases the 50-story glass tower in downtown Houston that houses its headquarters. The company owns, and has for sale, a new $200 million, 40-story glass tower across the street, Palmer said. UBS Warburg Energy is leasing two trading floors in the new building.
Enron's Houston workforce dwindled to less than 3,000 after 4,500 workers were laid off after the bankruptcy filing and others have since quit. That leaves a lot of empty space on near-empty floors, Palmer said.
Enron isn't shopping for smaller offices yet but Cooper said remaining workers will soon be consolidated.
"We can all be together, and people aren't going to be lonely and hanging out there occupying little spaces on big floors," he told workers.

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

USA: U.S. FERC admits 25 contacts with Enron officials.

02/22/2002
Reuters English News Service
(C) Reuters Limited 2002.
(Refiles with new slug, previous UTILITIES-FERC-ENRON)
By Chris Baltimore
WASHINGTON, Feb 22 (Reuters) - Under fire from U.S. lawmakers for being too cozy with Enron Corp. , the Federal Energy Regulatory Commission (FERC) said in a letter released on Friday that its commissioners and senior staff members had contact 25 times with the bankrupt company's executives between August 2000 and June 2001.
The meetings did not include new FERC Chairman Pat Wood, who is facing criticism that he was too close to the bankrupt energy giant.
Deflecting criticism, Wood denied that Enron "has had any undue influence on the decision-making process" at FERC.
"The agency's decisions have not been compromised or otherwise improperly shaped" by Enron contacts, he wrote in a letter to California Senator Barbara Boxer made available on Friday.
Enron, once the seventh-largest U.S. corporation whose stock was a Wall Street darling, spent lavishly on lobbyists who championed restructuring legislation.
Former Enron Chairman Ken Lay urged President George W. Bush to appoint Wood to his current position. Enron also backed Wood's previous appointment as the head of the Public Utility Commission of Texas.
Rep. Henry Waxman of California has also asked Wood to disclose his Enron contacts. Last week, Democratic Rep. Bill Pascrell wrote to urge Wood to resign.
The time period of Boxer's inquiry "effectively predates my tenure," Wood wrote, pegging his arrival at the agency on June 5, 2001. Wood became chairman in September.
Wood's letter was in response to a request Boxer made on January 31. In a response to Wood's letter, Boxer said that "decision makers at FERC were wined and dined by Enron both in Washington and Texas in an obvious effort ... to control all aspects of America's energy policy."
NUMEROUS MEETINGS CITED
As evidence, Boxer pointed to numerous meetings between Enron officials and FERC staff, including FERC commissioners Linda Breathitt and William Massey, both Democratic nominees to the commission, and senior FERC officials.
Republican Nora Brownell, also a target of criticism for her support of electricity deregulation while a Pennsylvania utility commissioner, reported no Enron contact.
In the letter, Wood described various meetings with Enron officials to discuss electricity deregulation and other issues, and some FERC officials toured Enron's trading floor in Houston.
During the period in question, Boxer accused FERC of sitting idly by while power shortages swept the state, leading to blackouts and soaring power bills for consumers.
Ironically, Wood and Brownell voted to support price limits on the California market, a position opposed by Enron and Curt Hebert, the previous FERC chairman.
Boxer also said FERC officials could have violated the Administrative Procedure Act and its own ethics guidelines which restrict contact between federal officials and industry representatives involved in contentious issues.
Wood said that one of his first acts as chairman was to order ethics training for all FERC staff, and said he has "stressed strict compliance with the Federal government's ethics rules," including the Administrative Procedure Act.
Responding to Boxer's statement, a FERC spokesman denied any improper actions by any agency officials. "What is not permitted is to talk to a company about a contested or on-the-record proceeding and to my knowledge we have played by the rules," he said.
"We would be remiss in our duties if from time to time the regulators didn't talk to one of the largest owners of gas pipelines in the United States," he said.
Wood has had three contacts with Enron officials while at FERC, including a call from Enron's Lay on Nov. 11, which he did not return, the spokesman said. Lay made the call two days after Enron agreed to be acquired by Dynegy Inc. for $9 billion, a deal Dynegy later scuttled.
FERC said its contact with Enron included:
* Linda K. Breathitt, commissioner: met five times with Enron executives including Rick Shapiro, Enron's managing director of government affairs. Discussion included general electricity deregulation, regional transmission organizations, transmission access issues and tariff reform
* Daniel L. Larcamp, director of markets, tariffs and rates: met five times with FERC officials, including former Enron chief executive Jeff Skilling; toured Enron trading floor twice in July and December 2000, met with Stan Horton of Enron Pipeline Group, Shapiro.
* William Massey, commissioner: met six times with Enron officials, including Stan Horton (then also serving as chair of the Gas Industry Standards Board), and Eugene Lockhart, president of Enron unit New Power Co.; "perhaps" had telephone call with Skilling.

Paper - Nuon interested in taking over from Azurix .

02/22/2002
Business News Americas
Copyright 1996 - 2002 Business News Americas (BNamericas.com)
Azurix Corp.AZXNuon
Dutch energy and water company Nuon could take over from Argentina's Buenos Aires province waterworks concessionaire Azurix BA, when the latter's contract ends March 2, according to Argentine paper El Cronista citing unnamed Azurix sources.
A Nuon spokesperson neither confirmed nor denied the reports when contacted by BNamericas. The spokesperson did not comment further, and said the company is not aware of the press report.
An announcement is expected in the coming days regarding the future of the province's waterworks services, and until a definite course of action is taken, the province will take over as service provider. Azurix was to have stepped down January 2.
Azurix is asking US$150mn-200mn in compensation, of the US$438mn concession rights it paid in advance and another US$100mn in investments and operational issues.
Azurix , which has been plagued with quality and service related problems, began its 30-year concession to serve 2.5 million residents of 49 districts in 1999, but called short its tenure due to the province's alleged "serious breaches" of concession terms.
http://www.bnamericas.com
Copyright 1996 - 2001 Business News Americas (BNamericas.com).

BG India E&P, LNG Invest To More Than Double Over 3-5 Yrs

02/25/2002
Dow Jones Energy Service
(Copyright (c) 2002, Dow Jones & Company, Inc.)
SINGAPORE -(Dow Jones)- U.K. oil and gas company BG Group PLC (BRG) will more than double its investment in India over the next three to five years, the company's Indian unit said Monday.
BG will raise its investment to US$1.3 billion from the estimated US$500 million it currently holds, targeting the upstream oil and gas sector and the liquified natural gas business.
BG is expanding its presence in India through its Indian unit - British Gas India Pvt.
It recently acquired Enron Corp.'s (ENRNQ) upstream oil and gas assets for US$350 million and is developing an LNG import terminal at Pipavav port in the western Indian state of Gujarat.
BG also holds stakes in two Indian gas distribution companies. It is a majority stakeholder in Gujarat Gas Company Ltd. (P.GCC) and joint venture partner in Mahanagar Gas Ltd. holding 50% equity.
Separately, a BG India spokesman said the company is expected to drill its first exploratory well in the CB-OS/1 block offshore Gujarat this week. BG will drill a further two exploratory wells on the CB-OS/1 block.
BG plans to invest about US$18 million in the CB-OS/1 exploration block by November this year.
BG acquired Enron's 62.64% interest in the CB-OS/1 block last year as part of its US$350 million deal for Enron's 30% stake in the Tapti gas field and Panna-Mukta oil and gas fields offshore Gujarat.
Although BG finalized earlier this month a renegotiated deal to buy Enron's upstream oil and gas assets in India, its dispute with state-owned Oil & Natural Gas Corp. (P.ONG) over who will manage the offshore fields remains unresolved.
-By Sri Jegarajah, Dow Jones Newswires; 65-415-4066; sri.jegarajah@dowjones.com

SINGAPORE: Enron Japan's creditors may be left empty-handed.

02/25/2002
Reuters English News Service
(C) Reuters Limited 2002.
SINGAPORE, Feb 25 (Reuters) - Creditors to Enron's Japanese units could be left in the cold as the company's assets may cover little more than the cost of liquidation, a source said Monday.
Creditors will meet with the administrator of Enron assets on March 27 to find out what, if any, money will be repaid, a source involved in the liquidation process told Reuters by telephone from Tokyo.
"After that meeting the distribution of the assets to creditors would occur, if there are any. But the prospects are not great. There are not many assets," the source said.
Creditors to Enron Japan Corp are seeking around three billion yen ($22.4 million), the source said.
Enron Japan and three other Japanese affiliates of the former U.S. energy giant filed for bankruptcy in early December, one week after the parent company filed for largest bankruptcy in U.S. history.
The other units are Enron Japan Marketing Corp, Enron Japan Funding Corp and E Power Corp.
The company's 70-to-80 employees have one month's salary, or about 60 to 70 million yen ($449,000 to $523,000) coming to them.
"The employee claims for salary and bonuses take first priority," the source said.
Enron's Japanese assets consist of mostly office equipment and a modest bank deposit, with the value of the company's office lease worth little more than the cost of termination, the source said.
"The costs to close the office could exceed the overall assets," the source said.
The value of Enron Japan's assets will be revealed at the creditors meeting.
The source said Enron's Japanese trading system cost about two billion yen ($15 million) to build, but cannot be sold to generate cash.
"The trading system can't be sold because it is based on the U.S. system, and they have not given their approval for its sale here in Japan," the source said.
Enron established a foothold in Japan in 1999 and operated various trading and marketing units in the energy and commodities industries.
The company had announced plans to build large thermal power plants at four different sites in Japan, but those projects did not leave the drawing table.
($1=133.75 yen).

Enron Got $1.2B In Loans From US Agencies For Pwr Plants

02/24/2002
Dow Jones Energy Service
(Copyright (c) 2002, Dow Jones & Company, Inc.)
WASHINGTON (AP)--As Enron Corp. (ENRNQ) reached for markets overseas, power plants it helped build from Guatemala to India received $1.2 billion in government-backed loans from two U.S. agencies.
The Overseas Private Investment Corp. still is owed $453 million from the Enron-related projects while the Export-Import Bank is due $512 million.
"They're definitely among our top 10 borrowers," OPIC spokesman Larry Spinelli said.
Though Enron is now bankrupt, four of its projects financed by OPIC are making its payments on time. Regarding a fifth project, Enron and two other U.S. corporations are seeking to have OPIC pay off a huge insurance claim.
When it filed for bankruptcy in December, Enron was pursuing OPIC help on two more projects in Brazil. Those applications have been abandoned.
Enron's relationship with the government is part of a two-pronged business strategy. Inside the U.S., Enron has sought to free energy companies from government regulation. Internationally, Enron has embraced Washington's help in the form of federally backed loans and insurance protection.
The irony is not lost on congressional critics.
OPIC "gave hundreds of millions of dollars in loans and other support to Enron-related projects during the Clinton administration," said Sen. Charles Grassley, the ranking Republican on the Senate Finance Committee who recently obtained records showing Enron-related projects received $544 million in loans from OPIC.
Separately, the Ex-Im Bank made more than $650 million in loans to Enron-related projects overseas.
"These projects obviously were a tremendous benefit to Enron's operation. The disclosure of this information sheds light on the government's actions in support of Enron over the years," Grassley added.
Enron's bankruptcy does not place the loans in jeopardy. Separately created corporations handled the overseas projects for Enron and other U.S. companies.
OPIC and Ex-Im loans are backed with the full faith and credit of the U.S. government.
Though it has just 200 employees, OPIC has deep pockets - a $4 billion reserve that comes from the user fees U.S. businesses pay for its loans and insurance. OPIC operates at no net cost to U.S. taxpayers - the business fees cover its costs - and earned $215 million last year.
OPIC's loan and insurance portfolio totals $14 billion; the Ex-Im Bank's portfolio exposure is $62 billion.
A financially troubled Enron plant in India - financed in part with OPIC loans - is cited by congressional critics who say the company has gotten too much government help.
OPIC provided $160 million to Enron and two other corporations to help build the $2.9 billion Dabhol plant. It now stands idle because prospective customers do not want the power.
The Ex-Im bank says it is still owed $203 million on the India project, but that it can call on guarantees from five Indian financial institutions for repayment if necessary.
Enron and the other two companies filed an insurance claim in December asking OPIC to pay $200 million. The claim is based on "political risk insurance" bought at the outset of the Dabhol project.
The companies say the Indian government has broken promises to stand behind the project, in effect denying the U.S. corporations their asset and therefore requiring OPIC to pay the insurance policy.
The claims process will take months to resolve.
The other four Enron projects that got OPIC money are operating successfully and are paying back their loans in a timely fashion. The payback comes from the revenue coming into the operating power plants.
Those power plants are in the Philippines, Turkey, Venezuela and Guatemala. The Ex-Im Banks Enron-related projects are in Colombia and at the same plants that OPIC is helping in Turkey and Venezuela.
Enron's bankruptcy stopped two OPIC applications in their tracks: two power projects in Brazil that would have received $390 million in OPIC loans.

UK's BG CEO To Raise Field Mgmt Row With India Govt Tue

02/25/2002
Dow Jones Energy Service
(Copyright (c) 2002, Dow Jones & Company, Inc.)
SINGAPORE -(Dow Jones)- Frank Chapman, chief executive of U.K. oil and gas company BG Group PLC (BRG), will raise a dispute over the management of Enron Corp.'s (ENRNQ) recently-acquired Indian upstream assets when he meets Petroleum and Natural Gas Minister Ram Naik Tuesday, government and industry sources said late Monday.
"That should definitely come up," said a New Delhi-based Petroleum Ministry source, referring to BG's dispute with India's state-owned Oil & Natural Gas Corp. (P.ONG) on the management rights, or operatorship, of Enron's offshore oil and gas fields.
Earlier this month, BG finalized a renegotiated deal to buy Enron's 30% equity stake in the offshore Panna, Mukta and Tapti oil and natural gas fields located off India's western coast for $350 million.
However, BG's dispute with Oil & Natural Gas Corp. over who ultimately manages the offshore fields is still unresolved.
Under the new deal with Enron, BG said the management of the offshore oil and gas fields was no longer a precondition for the acquisition.
Although this represented a reversal from its previous position, when it insisted on managing the fields, BG said it wasn't bowing out of the management race.
A BG India spokesman said Chapman would arrive Tuesday for a two-day visit, but stressed that the talks would address broad areas.
"There's no definite agenda. The purpose of the visit is to meet people in the government, BG India staff and top-ranking officials in different companies to talk about current investments and future plans," the spokesman said.
A source close to BG said the management rights issue would be addressed in an "appropriate forum," but was unable to elaborate.
"I'm sure it (the management dispute) is going to come up in various meetings, but it wouldn't be correct to label his (Chapman's) visit purely on that basis," the source said.

A spokeswoman at BG's U.K. headquarters in Reading said the company held "ongoing discussions" with BG's joint venture partners Oil & Natural Gas Corp. and Reliance Industries Ltd. (P.REL) on the management rights issue.
She couldn't comment on the status of the discussions as talks were "commercially confidential."
Although Oil & Natural Gas Corp. is eager to clinch the management, the company remained open to alternative offers. BG has offered cash and equity stakes in upstream acreages overseas to Oil & Natural Gas Corp. to secure the management rights, but the latter has rejected these offers.
Friday, India's Financial Express reported BG "will shortly be making a final offer" to its joint venture partners Oil & Natural Gas Corp. and Reliance Industries to take over the management of the Mukta, Panna, and Tapti oil and gas fields. BG declined to comment on the report.
BG is expanding its presence in India through its Indian unit - British Gas India Pvt. The company is developing an LNG import terminal at Pipavav port in the western Indian state of Gujarat.
BG also holds stakes in two Indian gas distribution companies. It is a majority stakeholder in Gujarat Gas Company Ltd. (P.GCC) and joint venture partner in Mahanagar Gas Ltd. holding 50% equity.
-By Sri Jegarajah, Dow Jones Newswires; 65-415-4066; sri.jegarajah@dowjones.com

Senate Prepares to Take Up Broad Energy Legislation

02/24/2002
Dow Jones Business News
(Copyright (c) 2002, Dow Jones & Company, Inc.)
Associated Press
WASHINGTON -- The Senate is ready to take up broad energy legislation that has caused splits over drilling in Alaska's Arctic National Wildlife refuge, automobile gas mileage, and electricity competition in the shadow of Enron Corp.'s collapse.
Debate expected this week comes nine months after President Bush outlined his plan to increase the nation's energy supply by expanding oil and gas drilling on public land, particularly in ANWR, and rejuvenating nuclear power.
The House passed its version, but in the Senate, majority Democrats have offered legislation that relies more heavily on conservation.
The crisis atmosphere has all but disappeared: Energy prices are low, and supplies are plentiful. The urgency to act may have lost steam, say lawmakers and lobbyists.
President Bush, in a weekend push to promote his plan, dismissed claims that it focuses too much on fossil fuel production and not enough on conservation and renewable energy sources such as wind and solar.
"Conservation technology and renewables are important. Yet they alone cannot solve our energy problems," he said in his weekly radio address.
During his recent trip to Asia, Mr. Bush stopped in Alaska, where he again stressed the need to drill for oil in ANWR. The idea won mention in his Saturday broadcast, with the president saying drilling can go ahead without hurting the environment, while also providing jobs.
Environmentalists have pledged to protect ANWR, and some Senate Democrats say they will stall energy legislation if Republicans press the refuge drilling issue -- as most expect them to do.
Senate Majority Leader Tom Daschle (D., S.D.), has offered a broad proposal that senators probably will consider this week.
"We have a real opportunity here," Mr. Daschle said Sunday on ABC's "This Week."
"There are some big differences between what the Republicans are proposing, which is really the policies of the past, and what the Democrats are proposing, which is a real look to a future for energy policy that is vastly different and exciting."
At least two weeks of debate are predicted.
There are "a lot of ways ... this legislation might go off the rails," said Sen. Jeff Bingaman (D., N.M.), a principal architect of the Democratic bill.
The House bill, strongly endorsed by Republicans and the White House, tilts toward expanding energy production and would allow ANWR exploration. It also offers billions of dollars in tax subsidies to producers.
Senate Democrats reject drilling in the refuge and emphasize conservation: sharp increases in fuel economy for automobiles, tougher federal energy efficiency standards and greater support for renewable fuels and natural gas, as opposed to oil.
Tax breaks in the Democratic proposal -- about $16 billion worth, or roughly half of what the House has offered -- lean more toward conservation and renewable fuel sources as opposed to the oil, gas and nuclear industries focused on in the House version.
Sen. Frank Murkowski (R., Alaska), says drilling in the refuge is essential to lessen U.S. dependence on foreign oil. He plans an amendment that would give oil companies access to the refuge's coastal plain, where billions of barrels of oil might be available.
Sen. Murkowski says he has the majority needed to get it passed, but -- at least not yet -- the 60 votes needed to overcome a sure filibuster.
Other issues also could scuttle a potential compromise:
-- Automobile mileage. A Democratic proposal would increase fuel economy by 30%, to an average of 35 miles per gallon by 2013, and remove lower standards now given to sport utility vehicles. Currently, new automobiles are required to meet a fleet average of 27.5 mpg and SUVs and minivans 20.7 mpg.
-- Ethanol. Farm interests and the oil industry are fighting over whether to increase the use of corn-based ethanol as a motor fuel by establishing a "renewable fuels" requirements for gasoline.
-- The $16 billion in tax breaks over 10 years. A Democratic version would give more of the money to conservation. Republican proposals tilt toward helping producers.
-- Electricity competition. With Enron's bankruptcy fresh in their minds, senators will consider how much say the federal government should have over siting transmission lines, managing power grids and monitoring the business practices of large energy holding companies.
The bill Mr. Daschle is introducing may attract more than 200 amendments.
"The big question is whether along the way the bill gets killed because it's just too big and cumbersome," says Dan Becker of the Sierra Club. "The conventional wisdom is that this is a bill that's just too heavy to fly."
With so many contested issues, David Owens of the Edison Electric Institute thinks the bill will bog down.
The Edison group's member utilities want repeal -- as the bill provides -- of a Depression-era law that restricts the activities of utility holding companies.
Since the Sept. 11 attacks, Republicans have stepped up the argument that more domestic oil production is needed to enhance national security by reducing America's reliance on Middle East oil.
Drilling foes counter that the refuge doesn't hold enough oil to reduce imports significantly and that tougher fuel economy standards for vehicles would go further in lessening U.S. dependence on foreign sources.
While Congress works on the legislation, its investigative arm has sued Vice President Dick Cheney to force the release of industry figures who met with his task force as its developed the administration's energy plan.
The White House has refused to hand over the information, contending that doing so would encroach on the president's ability to get candid views from people outside government.
Copyright (c) 2002 Dow Jones & Company, Inc.

California Governor Considers Delaying Phasing Out Gas Additive MTBE
By Alexei Barrionuevo

02/22/2002
Dow Jones Business News
(Copyright (c) 2002, Dow Jones & Company, Inc.)
Staff Reporter of The Wall Street Journal
SACRAMENTO, Calif. -- California Gov. Gray Davis said he is considering delaying a ban on MTBE and would make a final decision within the next 40 days.
The governor's comments, first made at a press conference on Thursday, follow the release earlier this week of an outside economic analysis that contends the state could face "prolonged shortages" of gasoline and severe price spikes if it goes through with a plan to replace MTBE with ethanol. MTBE, a petrochemical, is also known as methyl tertiary-butyl ether.
A spokesman for the governor told The Wall Street Journal on Friday that Gov. Davis hopes to decide in the next 40 days whether to delay the ban until 2005. The governor is concerned the state needs more time to put in place the infrastructure it needs to store and ship the ethanol into California from the Midwest, where most of the country's ethanol is produced, the spokesman said.
A report by Stillwater Associates, an oil-refining consulting firm, recommended delaying the switchover until November of 2005 to give the state adequate time to increase gasoline supplies. The report, presented to the California Energy Commission on Tuesday, said California lacked storage tanks and fuel terminals, particularly in Southern California, that could handle an influx of imported gasoline to make up a gasoline shortage expected to be as great as 5% to 10% of demand.
The consulting firm suggested restarting idle refining capacity, extending a Texas gasoline pipeline to Phoenix and building more fuel terminals and tank capacity in both Northern and Southern California.
Gov. Davis ordered a ban on MTBE in 1999 because of concern that it contaminates groundwater. A federal mandate requires the country's most heavily polluted regions to add oxygenates like MTBE and ethanol to gasoline to reduce pollution. After ordering the ban, Gov. Davis, a Democrat, requested a waiver from the 1990 Clean Air Amendments requiring most states' gasoline to include a certain percentage of oxygenates. Both ethanol and MTBE are blended into reformulated gasoline to make it burn more cleanly, reducing smog. Gov. Davis contends studies show that the state's refiners can meet clean-air requirements without using any oxygenate.
But the U.S. Environmental Protection Agency rejected the governor's waiver request last year. That has left the state with only one alternative to MTBE -- ethanol. Given California's dependence on cars, the state would need 580 million gallons of ethanol a year, or one-third of total U.S. production. Gov. Davis on Thursday blamed "politics in the Midwest" for the rejection of California's waiver request.


Gerald,

Jim Osborne asked that I pass on this Williams - NWPL contact:

Steve Kofoed
801-584-7226
801-584-7076 (fax)

Mark


Kim:

Can you fill out the gas piece of this?

C


yeah, that was him.  beginning of the movie.  they notified the corleone family with the message, "luca brazzie sleeps with the fishes."

great movie.

 -----Original Message-----
From: 	Kaufman, Paul
Sent:	Thursday, October 11, 2001 5:09 PM
To:	Dasovich, Jeff
Subject:	RE:

Something like $400 MWh.   Was it Luca Brazzi that ended up sleeping with the fishes?  I thought Luca was the guy who got the garrote with this hand nailed to the bar?

 -----Original Message-----
From: 	Dasovich, Jeff
Sent:	Thursday, October 11, 2001 3:06 PM
To:	Kaufman, Paul
Subject:	RE:

Luca Kaufman, who else?  (What did you say the price was?  The fact that it only goes to end of '02 is at least somewhat encouraging.)

You know, I'm starting to feel like tom hanks in "you've got mail."  guess that makes you meg ryan.

 -----Original Message-----
From: 	Kaufman, Paul
Sent:	Thursday, October 11, 2001 5:04 PM
To:	Dasovich, Jeff
Subject:	RE:

We need a big pot for the spaghetti and meatballs.  (I wonder who will end up sleeping with the fishes).

 -----Original Message-----
From: 	Dasovich, Jeff
Sent:	Thursday, October 11, 2001 3:02 PM
To:	Kaufman, Paul
Subject:	RE:

Oh, joy.  Get out the mattresses.

 -----Original Message-----
From: 	Kaufman, Paul
Sent:	Thursday, October 11, 2001 5:02 PM
To:	Dasovich, Jeff
Subject:	RE:

Yes.  We hold a very big position with NPC that rolls off at the end of '02.

 -----Original Message-----
From: 	Dasovich, Jeff
Sent:	Thursday, October 11, 2001 3:01 PM
To:	Kaufman, Paul
Subject:	RE:

We have any contract in the cross (short?) hairs?

 -----Original Message-----
From: 	Kaufman, Paul
Sent:	Thursday, October 11, 2001 5:00 PM
To:	Dasovich, Jeff
Subject:	RE:

a.o.k.  Everything's fine.  Thanks for catching me up on the actions of those commies over in Nevada.  For a Republican stronghold, they act suspiciously like Democrats.

 -----Original Message-----
From: 	Dasovich, Jeff
Sent:	Thursday, October 11, 2001 2:45 PM
To:	Kaufman, Paul
Subject:

On a more serious note (notes).  Sue's out sick today (caught something in Houston, it seems). And seriously, I hope the meeting went well.


Kam,

Did Brad answer your question?  I've been in NYMEX hell all day and I am not up on this issue.  Let me know if I can help further.

EM

 -----Original Message-----
From: 	Keiser, Kam
Sent:	Thursday, October 25, 2001 2:47 PM
To:	McLaughlin Jr., Errol
Subject:	FW: NGI-MALIN

Errol,

Do you know if the trade below Frank is talking about was booked to NGI-Malin or to another curve.  His concern is that there isn't a volatility curve set and the P&L/Positions may be off.

KK

 -----Original Message-----
From: 	Hayden, Frank
Sent:	Thursday, October 25, 2001 2:10 PM
To:	Gossett, Jeffrey C.; Keiser, Kam
Cc:	Khanna, Bharat
Subject:	FW: NGI-MALIN

Bharat was digging around in ERMS and noticed that NGI-Malin is missing a vol curve..
The immediate concern was gas VAR, and think I'm, okay given below?
The second concern is Larry May.
Larry booked $8MM last week on SoCal option trade.  The question I have is where is his vol curve?  How can he book $8MM when he isn't even posting a vol curve for Malin?was his trade elsewhere
Can you all noodle around for me?
Thanks
Frank

 -----Original Message-----
From: 	Jia, Winston
Sent:	Thursday, October 25, 2001 1:47 PM
To:	Hayden, Frank
Cc:	Khanna, Bharat
Subject:	RE: NGI-MALIN

Frank,

For all gas basis curves, if it does not have its own vol, then NG Nymex Vol will be used.

Regards,

Winston

 -----Original Message-----
From: 	Hayden, Frank
Sent:	Thursday, October 25, 2001 1:08 PM
To:	Jia, Winston
Cc:	Khanna, Bharat
Subject:	NGI-MALIN

Winston,
Bharat meet with Francis Lim regarding ERMS and he learned that NGI-MALIN does not have any vol curve assigned to it.  However when we simulate that curve in ad hoc we don't get any errors.  Can you tell us what vol curve is being used for NGI-Malin in risk trac?
Thanks
Frank


Ken/Jeff/Steve:

I thought I would let you know that tonight on the Jim Lehrer Newshour on PBS
they had a lengthy segment on California power prices.  While I took issue
with some elements of the story, on balance it was one of the more calm and
rational stories on the issue I have seen.  It might be worth obtaining a
transcript to review.

Jim Hughes


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Center for the Advancement of Energy Markets

Wow!  What a year 2001 has been for the supporters of energy competition.   For every good bit of news (Pat Wood, one of our heroes at CAEM, being selected to head the Federal Energy Regulatory Commission, and the continuing progress that the Canadians ? yes, the Canadians ? have made towards energy competition), we have had to bear one disaster and misstep after another throughout the year.   Let?s see, in December 2000, who could have predicted?.

1.  The tragic events of September 11th.
2.  The California implosion.
3.  Pennsylvania marketer retrenchment.
4.  Price volatility and high prices (but it could have been worse if Mother Nature did not help out).
5.  Bush Energy Plan ignores meaningful restructuring.
6.  Enron collapse.
7.  FERC Blinks on Super RTO.
8.  Texas missteps in pilots for opening the market.
9.  No leadership emerged to meet the crisis in restructuring.

2001 was one heck of a year ? but thankfully, probably the nadir of the movement towards energy competition in North America.  As CAEM looks into our crystal ball (natural gas fired, of course) for the coming year, we see a better year.  Below are some of the predictions and responses from the CAEM staff about what we expect to occur.  The responses below are primarily concerned with electricity, but to a lesser extent, may be applied to natural gas as well.

As always, do not bet the house on what we have to say.  We are just a little think tank, kind of like the little engine that could.  And we can.  And we do.

Happy New Year!

The CAEM Staff

P.S. If you would like to add a prediction or two, please send an e-mail with your name and contact information to Hope Duncan at hduncan@caem.org  We will post them to our web site ? www.caem.org  Please identify which question below is being addressed by your prediction.

CAEM PREDICTIONS IN 2002

What does Enron?s collapse mean?

1. Markets work.  Markets quickly punish mistakes.  Little slack is given for past accomplishments.  Markets are ruthlessly impersonal.

2. No likely short term impact on consumers, other traders will fill the space left by Enron.  Amazing that a company as large as Enron can fail and hardly cause a ripple in markets.  Testimonial to benefits of markets.

3. May have significant impact on public policy advocacy.  Not obvious who picks up the slack.  Enron could be counted on to be there, or so it appeared.  No more free riders, we will all have to dig deeper and work harder.  Consumers may be mid to long term losers if movement toward competition collapses, which it might do if states stretch out the transition period to competition.

4. Enron?s collapse was not caused by deregulation. Viewed thoughtfully, it should not have any effect on deregulation movement.  Does not stand for proposition that deregulation is not the right policy.

5. Look for more regulation and oversight of energy transactions, accounting and business practices.  A strange legacy for Enron, but a reality.

6. As a practical matter, it is another setback for restructuring.  But not as bad as portrayed by media ? Enron was the 600 pound gorilla that angered friends of competition almost as much as foes, thus making them less willing to step forward.  Will feed growing skepticism many have about restructuring.

7. Enron?s global reach into wholesale and retail markets meant that its policy positions were sometimes blurred (pro-wholesale? pro energy services?) Other corporations will now replace Enron in public policy debates; these corporations may have a clearer focus.

8. Still, we have lost a champion.  CAEM will miss their culture of urgency, innovation and high expectations, which led to the unbundling of the classic power contract (or paper or water, etc) into its constituent parts and offered customers choices on each one. Enron also pioneered risk assessment and control systems.

What will be the fate of the movement towards retail energy competition in 2002?

1. CAEM believes that the movement toward retail energy competition will continue ? albeit much more slowly.

2. Texas is the best model to date and will set the standard for other states in 2002 and beyond.  Why?  The best incentives are in place for large numbers of commercial and industrial consumers to competitively shop for supply.  The Texas model ties changes to the wholesale market to the retail market.  (Texas, through ERCOT, is unique in this respect.)  No price caps.  Market power of incumbents is limited.  Enlightened leadership at the Texas PUC from 1995 to 2000 (our friend, Pat Wood again ? but we believe Commissioner Perlman is a star as well) and in the Governor?s office.

3. Other states that have already made a decision to move forward will seek to correct deficiencies ? Pennsylvania, New Jersey, etc. ? or avoid past mistakes altogether ? Virginia.  However, there will be very limited movement in these states.

4. California will continue to suffer from a lack of imagination and poor leadership from the Governor on down.  There is a good chance that CAEM will again be awarding Governor Davis the ?Red China? award in 2002.

5. Californians will be reminded again that rolling blackouts are a form of ?involuntary? conservation.

6. Very limited movement, perhaps some experimentation or demonstration projects, in those states that have done nothing to date.

7. Increasing effort to approximate market-like conditions, but under a regulated, cost-based system, with predictable results.

8. Actually, beyond Texas, the best hope for significant movement towards competition is in North America is in Canada, particularly Alberta and Ontario.  Given the increasing interconnection between the U.S. and Canada, this will slowly work its way into the United States.

9. It will be another wild ride for energy marketers in 2002.  More power to them.

What will happen on the wholesale side of the picture in 2002?

1. CAEM believes that there will be significant strides made to increase liquidity and competition in the wholesale market for electricity.

2. The Federal Energy Regulatory Commission will be successful, to a degree, in implementing Super RTOs (regional transmission organizations).

3. CAEM supports the Bush Administration?s proposal to give eminent domain to FERC for the siting of new transmission lines.  However, this proposal faces tough sledding in Congress.  CAEM believes it will pass in some form ? probably very watered down ? out of necessity, but not out of love. Many in Congress still believe we can conserve our way to prosperity.

4. The Federal government and the states will make progress ? probably embodied in a political deal ? on greater cooperation.  This will be regional in focus.  Both sides will give significant concessions to realize this.

5. New players will enter market as it grows, including the oil companies and more foreign-based companies.

Wildcards/ Predictions in 2002

1. The Bush Administration will come under increasing pressure to show leadership in the area of energy restructuring.  To date, the Bush Administration has stayed on the sidelines ? except making the right noises here and there ? of making energy markets more competitive.  This will need to change, beginning with more funds and staff devoted to helping the states on the retail side and supporting FERC in their efforts on the wholesale side.

2. The new Electricity Advisory Board appointed by DOE Secretary Abraham will be seen for what it is ? a sop to campaign supporters.  Given its current make up, we expect very little to come of it.  Couldn?t they find more energy marketers, technology companies ? anyone that is a bit more pro-competition?
3. The Department of Energy will continue to have little impact -- if any -- on energy restructuring issues and will remain largely irrelevant to the competitive energy market.

4. The Department of Energy will continue to fight for tougher appliance efficiency standards, while totally ignoring the far lower efficiency of electricity production, thus marginalizing its impact on energy efficiency.

5. ?Comprehensive? energy legislation will probably pass in 2002.  The question is whether it will be truly comprehensive and have a separate and new section devoted to electric restructuring.  (The Senate version does and the House is working on one.)  Our guess is that it will to some degree.  Our hope is that the energy legislation moves beyond pork politics and members of Congress will resist the temptation to earmark projects.  Fat chance of that happening, but it is Christmas time.

6. As part of the political deal, there is the opportunity for a ?New Federalism? policy to be realized for the energy sector.  If the Bush Administration truly wants to move competition forward, and yet have the states go along with it, a new block grant with conditions for moving towards competition could be formed to serve as a carrot.  The Feds do it with highway funds and education ? why not energy? The states, familiar with federal block grants for highways and education will try to cut as many of the ?strings? attached to the grants as possible.

7. A major blackout in 2002.  The laws of probability suggest that we are due for a reminder about how old our infrastructure is and how the lack of attention to how these markets are performing will have consequences.  The U.S. has dodged many bullets in the past ? but probably not this year. (BPA will likely not cause the blackout this time, as it did twice in 1996, unless the Pacific Northwest gets a lot of snow this winter or a lot of rain this spring.) ( The blackout will likely not happen in Manhattan, since peak demand was reduced by ~ 300 mW on September 11th.)  We recognize this a risky prediction ? predicting what terrorists or what the weather may do always is ? but it is only a matter of time.

8. The environmental movement will begin to wake up to the fact that its interests are not the same as those of consumer activists.  Competition will lead to more efficient production ? and thus less pollution ? to the extent it is allowed to occur.  Seeking lower prices at all costs, including the cost to the environment, consumer advocates want to preserve the monopoly model, which has led and will continue to lead to the maximum use of old, and polluting technologies and infrastructure.

9. For that matter, the anti-coalition (kind of like anti-matter, not much there) of critics should splinter even further vs. organized labor (high costs, high prices).

10. New grid-enhancing technologies, e.g., superconductivity, and distributed energy technologies, e.g., fuel cells, should make significant market gains in 2002, assuming Congress, DOE and EPA take no further actions to prevent this from happening.  There is a lot of pessimism in the distributed energy community right now ? and who wouldn?t be a bit pessimistic, given the exit of Honeywell from the market, the constant technical setbacks, the wariness of the utilities, the bickering and backbiting, etc.  But folks, this is the future ? and the future starts now.

11. EPA will continue to protect the ?right? of existing generators to pollute at rates an order of magnitude greater than the pollution rates required of new generators, ?in the interest of fairness?.

12. EPA will continue to discourage incremental improvements in the efficiency and emissions of existing power plants by insisting that the incremental improvements subject the plants to new source review.

13. EPA will proceed with issuance of a proposed guidance document requiring combined heat and power systems and building cooling, heating and power systems to achieve better combined electrical and thermal efficiency than the best available separate electric generation and thermal energy conversion technologies, but will not require that all separate electric generation and thermal energy conversion installations use the best available technology. (No one will question why this efficiency requirement is coming from EPA and not DOE.)

14. The tax code will continue to require owners of on-site generation systems to depreciate the systems over time periods longer than their expected useful lives.


I have a dream that one day before friday the estate receive a copy of the western fundamentals...I have a dream...)an you help me?

Keep smiling!  We're almost done
--------------------------
Jeff Golden


Man, you're quick.  Thanks very much.  This is really starting to get wierd.
Makes Cuba look capitalist.

Best,
Jeff


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I don't think it should go on the list so traders don't make a mistake and
trade under it.  Is that what you usually do Susan?

	Tanya Rohauer/ENRON@enronXgate
	06/05/2001 11:25 AM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: RE: Lakeside Feeders Ltd., by and through its division, Lakeside
Packers

do we leave one trade only docs off the monthly list so as to not confuse
people?

 -----Original Message-----
From:  Panus, Stephanie
Sent: Tuesday, June 05, 2001 9:09 AM
To: Bowen, Bob; Adams, Laurel; Guillen, Andrea; Hunter, Larry Joe; Heaney,
Gordon; Aguayo, Janie; Bailey, Derek; Anderson, Diane; Tackett, Scott;
Cisneros, Celeste; Brewer, Julie; Fischer, Jason; Garcia, Jorge; Hundl,
Kimberly; Ornelas, Bianca; Murphy, Melissa Ann; Seib, Dianne; Theriot, Kim;
Bell, Jean; Cason, Sharen; Whalen, Melinda; Piwetz, Stephanie; Rodriguez,
Melissa; Williams, Tiffany; Bradford, William S.; Brackett, Debbie R.;
Rohauer, Tanya; Reves, Brant; Diamond, Russell; Campbell, Lesli; Lebrocq,
Wendi; Sacks, Edward; Espinoza, Veronica; Gonzalez, Veronica; Radous, Paul;
Williams, Jason R (Credit); Johnson, Rudwell; Vanek, Darren; Rajaram, Aparna;
Conwell, Wendy; Curry, Ken; Moran, Tom; Mendoza, Nidia; Brown, Angela Y.;
Ngo, Tracy; Landry, Shemeika S.; Otto, Randy; Colbert, Marilyn; Ellstrom,
Diane; Shivers, Lynn; Hare, Bill D.; Reeves, Leslie; Moore, Jason; Schott,
Samuel; Campos, Anthony; Rodriguez, Bernice; Neuner, Dale; Lambert, Karen;
Davis, Frank L.; Southard, Carrie; Ebow, Amber; Richardson, Stacey; Lees,
Lisa; Gerard, Camille; Landau, Georgi; Johnson, Cheryl; Sever, Stephanie;
Crawford, Sharon; Sietzema, Linda; Hendry, Brent; Shackleton, Sara; Taylor,
Mark; Bailey, Susan; Cook, Mary; Jones, Tana; Leite, Francisco Pinto; Nelson,
Cheryl; Sayre, Frank; Davis, Angela; Keiser, Holly; Heard, Marie
Subject: Lakeside Feeders Ltd., by and through its division, Lakeside Packers

We have received an executed financial Master Agreement:

Type of Contract:  ISDA Master Agreement (Multicurrency-Cross Border)

Effective Date:   May 1, 2001

Enron Entity:   Enron Canada Corp.

Counterparty:   Lakeside Feeders Ltd., by and through its division, Lakeside
Packers

Transactions Covered:  THIS ISDA MASTER AGREEMENT CAN BE USED BY COUNTERPARTY
    FOR ONE TRADE ONLY.  NO MORE DEALS ARE TO BE DONE UNDER
    THIS AGREEMENT.

Confirming Entity:  None

Governing Law:   None

Copies will be distributed.

Stephanie Panus


Shirley,

Please, put it on my calendar.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 01/02/2001
05:44 PM ---------------------------

Joana Ryan Bekerman@ENRON
01/02/2001 04:51 PM
To: dhoog@att.net@ECT, Vasant Shanbhogue/HOU/ECT@ECT, Amitava
Dhar/Corp/Enron@ENRON
cc: Jere C Overdyke/HOU/ECT@ECT, Vince J Kaminski/HOU/ECT@ECT
Subject: Valuation

We have a meeting tentatively scheduled for Tues, Jan 9 at 3pm with David
Port from RAC to discuss the valuation methodology (VAR v. CAR) for the
outage option book for GRM.
Let me know if you foresee a conflict with this time.
Thanks,
Joana


Sara,

A question for you:

Would it be possible to very quickly amend the existing ISDA to add the name
Glencore AG? Brant is unable to approve certain trades until this is done and
I
would rather not wait for the guarantee and credit issues to be resolved as
this
may take some time.

David


FYI.

---------------------- Forwarded by Rod Hayslett/FGT/Enron on 12/20/99 06:39
AM ---------------------------

	From:  John Ballentine                           12/19/99 02:06 PM

To: Rod Hayslett/FGT/Enron@ENRON
cc: Tom Sherrier/FGT/Enron@ENRON

Subject: First Glance Comparison of CitrusNet Offers

Rod, please find the enclosed first glance comparison of the El Paso offer.
Please fwd this to Rock and Mike Moran after you have read it.  As it turned
out, I got diverted to my PNet meeting in Las Vegas, and I plan to be out of
here by mid Monday afternoon.  I will call you early Monday morning to
discuss this memo and the offer.  Lets plan on an early Tuesday meeting with
Stan/Rock/Mike/you and I?  Your call.


----- Forwarded by Sheila Tweed/HOU/ECT on 08/04/2000 11:46 AM -----

	Ben F Jacoby
	Sent by: Ben Jacoby
	08/03/2000 03:25 PM

		 To: Sheila Tweed/HOU/ECT@ECT
		 cc:
		 Subject: Environmental Permits Matrix

---------------------- Forwarded by Ben Jacoby/HOU/ECT on 08/03/2000 03:22 PM
---------------------------

Dave Kellermeyer
08/03/2000 03:18 PM
To: Ben Jacoby/HOU/ECT@ECT, Jeffrey Keenan/HOU/ECT@ECT, Stephen
Plauche/Corp/Enron@Enron, John Moore/Corp/Enron@ENRON, Debbie
Chance/Corp/Enron, Gregory Krause/Corp/Enron@ENRON, Steven
Krimsky/Corp/Enron@Enron
cc:
Subject: Environmental Permits Matrix

Attached is a generic spreadsheet that lists environmental activities and
approvals for power projects.  I have divided it into three different sheets
that represent:  1) activities/permits required prior to construction, 2)
activities/permits after start of construction and prior to commercial
operation, and 3) activities/permits after start of commercial operation.

I see it being a worthwhile effort to produce a separate list for each
project, including schedule milestones and responsible parties.  Whether each
list is generated by me, an environmental consultant, legal counsel, the
developer, etc. is something we should decide on a project by project basis.
I would appreciate your comments on this.

By the way, I don't consider this generic spreadsheet to contain an
exhaustive list of possible permits.  There are a number of other potential
approvals, such as occupancy permit, driveway permit, environmental resource
permit, etc. that aren't on this spreadsheet.  We really need to assess each
project individually.

Dave