Sue Mara
Enron Corp.
Tel: (415) 782-7802
Fax:(415) 782-7854
----- Forwarded by Susan J Mara/NA/Enron on 07/26/2001 03:16 PM -----

	"US Publishing" <season@wizard.net>
	07/26/2001 06:12 PM
	Please respond to season

		 To: "RT Reader" <season@wizard.net>
		 cc:
		 Subject: Restructuring Today Thursday July 26 2001

(see attached file:  rt010726.pdf)

Thank you,

Season Hawksley
US Publishing
800-486-8201
202-298-8201
 - rt010726.pdf


Please note the 2 day LC timing being negotiated with Chase by finance.
Should we alter our Paragraph 13 to modify the ISDA CSA timing for provision
of credit support when an LC is being provided?

Cordially,
Mary Cook
Enron North America Corp.
1400 Smith, 38th Floor, Legal
Houston, Texas   77002-7361
(713) 345-7732 (phone)
(713) 646-3490 (fax)
mary.cook@enron.com
----- Forwarded by Mary Cook/HOU/ECT on 04/25/2001 09:25 AM -----

	Sarah Wesner/ENRON@enronXgate
	04/25/2001 08:20 AM

		 To: Joel Ephross/ENRON@enronXgate, dkeyes@velaw.com@SMTP@enronXgate,
tyates@velaw.com@SMTP@enronXgate, ealderden@velaw.com@SMTP@enronXgate, Mary
Cook/HOU/ECT@ECT
		 cc:
		 Subject: RE: LCs and ISDA

I received a message from Chase this morning that they will move the 5 days
to 2 days as long as their LC department is okay with it.  According to our
LC department, Chase is fine with it.  I am just waiting for the internal
parties to communicate this to one another within Chase but we can assume
that it will be 2 days.

 -----Original Message-----
From:  Ephross, Joel
Sent: Tuesday, April 24, 2001 6:14 PM
To: 'dkeyes@velaw.com'; 'tyates@velaw.com'; 'ealderden@velaw.com';
Wesner-Soong, Sarah; Cook, Mary
Subject: FW: LCs and ISDA

Hi Mary. Thanks for the info. The attachment to the ISDA appears to be
weighted against Enron [for instance, the 30 day provision in the force
majeur provision], and in fact contains some provisions that I was trying to
invalidate in drafting the LC Reimbursement Agreement. I will need to review
some of the other references tonight. Can we make the form of LC more Enron
friendly?

Will need to discuss timing at more length. Here, the Issuer is Chase -- NY.
We should discuss whether we can vary the standard -- I do not think we can
count on obtaining next day issuance in the documentation [Chase may waive
requirement in their discretion]. We are trying to obtain 2 day issuance now,
but please realize that the initial bid from Chase is 5 days.

 -----Original Message-----
From:  Cook, Mary
Sent: Tuesday, April 24, 2001 4:42 PM
To: Ephross, Joel
Subject: LCs and ISDA

 << File: isdacsa(02-14-01).doc >> See end of attachment Letter of Credit
Provisions and Form.

Timing requirement for transfer of LC for margin under our standard time
frame does not vary from the ISDA form which is:

if collateral demand is made by "Notification Time" (10:00 am NY time) then
cash or LC must be delivered by close of business on the next Local Business
Day, if after Notification Time then cash or LC must be delivered by close
of  second Local Business Day.  Local Business Day for this purpose is a day
on which commercial banks are open for business in the place of the "relevant
account."  Relevant account should be considered to mean the place of the
issuer.

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


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 11/27/2000
11:32 AM ---------------------------

"Stephen stock" <stephen.stock@enron.com> on 11/26/2000 02:31:16 AM
To: vkamins@enron.com
cc:
Subject: 40th Birthday Party

[IMAGE]
?

You're invited to:
40th Birthday Party

Hosted by:
Stephen stock

To view the full invitation, click here!

[IMAGE]

*** NOTE *** : If you receive this using Lotus Notes mail, then check that MS
Internet Explorer is launched when you select a web link otherwise this
doesn't work too well.  Click on "office" at the bottom right of Notes,
select "Edit Current" and check that the Internet Browser is set to Microsoft
Internet Explorer

Use Evite to host your next get-together. It's easy, fun and 100% free

??????	 HAVING TROUBLE?

	If the "To view the full invitation, click here!" link above didn't take you
to your Invite, try double-clicking the link below (or copy and paste it into
your web browser's location bar and hit 'Enter'):
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		??????
[IMAGE]

[IMAGE]


CALENDAR ENTRY:	APPOINTMENT

Description:
	Natural Gas Production, Downstream Uses, and Market Drivers/Lisa Gilchrist Conference room EB40C2 Bring your own lunch

Date:		2/15/2001
Time:		11:30 AM - 1:00 PM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


Ain't got it yet.  415.782.7854.  Thanks a million.

 -----Original Message-----
From: 	Dernehl, Ginger
Sent:	Friday, December 07, 2001 10:34 AM
To:	Dasovich, Jeff
Subject:	FYI - Faxing ltr 2 u

Ginger Dernehl
Administrative Coordinator
Global Government Affairs
Phone# 713-853-7751
Fax# 713-646-8160


Otra mas.

We'll need to change the date of the doc once we have an idea of when it will
be signed.

Kay


---------------------- Forwarded by Sally Beck/HOU/ECT on 10/17/2000 02:51 PM
---------------------------

Kenneth Horton@ENRON_DEVELOPMENT
10/16/2000 05:13 PM
To: Sally Beck@ECT
cc: Lynn Bellinghausen/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: Doorstep Meeting

Sally,

Following our Doorstep meeting today, I am following up on your request that
I forward to you the list of Portland transactions for which we still require
documentation, e.g. invoices, SAP entries, etc.  For the Settlements testing
only, we reduced the deal population from 23 to ten randomly-selected
transactions, in order to facilitate the Settlement group's ability to
complete both its monthly close obligations and our Doorstep request.  The
deal selection is indicated in yellow, and the missing items, in green.

Also per your request, attached are the five "non-standard" deals for which
we have been unable to obtain any information at all.  Our primary need is
just to get a basic understanding of these transactions.

Colorado Springs Utilities  10/1/98-9/30/03 Colorado 50-150 MWs
BPA     10/1/01-12/31/05 NW Delivered 105 MWs
Welded Tube    1/1/98-6/30/05 PGE - NW 5.2-12MWs
British Columbia Power Exchange 1/1/98-1/1/15 COB 85-176 MWs
Harbor Cogen

Thank you for your help, Sally,
Ken


Governor Davis signed SBX 28 (Sher) today which will expedite the siting
of new power plants, repowers and peakers.   The bill will also
encourage clean DG among other things.  I have attached the Governor's
press release.

http://www.governor.ca.gov/state/govsite/gov_htmldisplay.jsp?BV_SessionID=@@@@
0719650310.0990571422@@@@&BV_EngineID=iallchgkihdbemfcfkmchcng.0&sCatTitle=Pre
ss+Release&sFilePath=/govsite/press_release/2001_05/20010522_L01017_GGD_signs_
28X.html&sTitle=GOVERNOR+DAVIS+SIGNS+BILL+TO+%0aSPEED+POWER+PLANT+SITING%0a&iO
ID=14947


Thank you all for taking the time to complete the questionnaire.  Your
comments are really helpful.

The books that I promised you will be arriving early next week so I will get
you a copy as soon as it is available.

Thanks again for your participation and feedback!
Amy


Shawna,

I was informed incorrectly that you would be handling these files.  They have
been forwarded to Gerald Nemec.

I stopped by your office immediately after you e-mailed me regarding this
matter.  You were not in.  I spoke with Dan Hyvl concerning this matter.   He
located the files for me that were routed to you for review.  They are now in
my possession and will be forwarded to Gerald Nemec.

Thanks.

Marlene Hilliard
---------------------- Forwarded by Marlene Hilliard/HOU/ECT on 06/01/2000
02:31 PM ---------------------------
From: Shawna Flynn on 06/01/2000 02:07 PM
To: Marlene Hilliard/HOU/ECT@ect
cc:
Subject: Re: Oasis Pipe Line Company

Why am I reviewing these files??? Are they for Shonnie Daniel??

	Marlene Hilliard
	05/30/2000 11:31 AM

		 To: Shawna Flynn/HOU/ECT@ECT
		 cc:
		 Subject: Oasis Pipe Line Company

Shawna,

Mark Thorne will forward these files directly to you.

Marlene Hilliard
---------------------- Forwarded by Marlene Hilliard/HOU/ECT on 05/30/2000
11:31 AM ---------------------------

Marlene Hilliard
05/25/2000 11:02 AM
To: Mark D Thorne/HOU/ECT@ECT
cc:
Subject: Oasis Pipe Line Company

Mark,

 I need the following files forwarded to me as soon as possible.  However,
they should be checked out to Shawna Flynn.  She will need to review these
files.

1.  96019482

2.  96019481

3.  96019013

4. 96016667

5.  96016654

6.  96015445

Should you have any questions, please contact me at 3-9167.

Marlene Hilliard


Julie,

No problem.

Vince

 -----Original Message-----
From: 	"Julie" <julie@lacimagroup.com>@ENRON [mailto:IMCEANOTES-+22Julie+22+20+3Cjulie+40lacimagroup+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Monday, August 06, 2001 3:33 PM
To:	Kaminski, Vince J
Subject:	Fw: EPRM articles

Vince,

Are you OK with the message below?

Julie
----- Original Message -----
From: Ralf Larsson << File: mailto:Ralf@energyforum.net >>
To: 'contact@lacimagroup.com' << File: mailto:'contact@lacimagroup.com' >>
Cc: 'dbriddon@riskwaters.com' << File: mailto:'dbriddon@riskwaters.com' >>
Sent: Friday, August 03, 2001 11:07 AM
Subject: EPRM articles
Dear Mr. Strickland,
We co-operate with EPRM, and  publish a few of their articles from time to
time on our web. Currently I  am looking for stories in any of the following
areas;
* Back office  management
* Technical analysis, Power analysis
* Financial power  trading
* Power derivatives
Dawn Briddon at EPRM mentioned that a  few contributory articles provided by
you cover these areas, however she  can not pass these articles on without
prior consent.
Would it be ok for  us to publish these articles?
Most sincerely
Ralf  Larsson
Partner & Web  Manager
**************************************
Energyforum.net
Box  7222
S-103 89  Stockholm, Sweden
Telephone +46 8 20 90 95
Telefax +46 8 20 90 73
Cell +46 709 82 03 64Mailto:ralf@energyforum.net << File: mailto:ralf@energyforum.net >>
**************************************
Would you like to join our free  newsletter:http://www.energyforum.net/mailing << File: http://www.energyforum.net/mailing >>


----- Forwarded by Steven J Kean/NA/Enron on 02/28/2001 02:40 PM -----

	Jeff Dasovich
	Sent by: Jeff Dasovich
	02/23/2001 06:16 PM

		 To: Alan Comnes/PDX/ECT@ECT, Angela Schwarz/HOU/EES@EES, Beverly
Aden/HOU/EES@EES, Bill Votaw/HOU/EES@EES, Brenda Barreda/HOU/EES@EES, Carol
Moffett/HOU/EES@EES, Cathy Corbin/HOU/EES@EES, Chris H Foster/HOU/ECT@ECT,
Christina Liscano/HOU/EES@EES, Christopher F Calger/PDX/ECT@ECT, Craig H
Sutter/HOU/EES@EES, Dan Leff/HOU/EES@EES, Debora Whitehead/HOU/EES@EES,
Dennis Benevides/HOU/EES@EES, Don Black/HOU/EES@EES, Dorothy
Youngblood/HOU/ECT@ECT, Douglas Huth/HOU/EES@EES, Edward
Sacks/Corp/Enron@ENRON, Eric Melvin/HOU/EES@EES, Erika Dupre/HOU/EES@EES,
Evan Hughes/HOU/EES@EES, Fran Deltoro/HOU/EES@EES, Frank W
Vickers/HOU/ECT@ECT, Gayle W Muench/HOU/EES@EES, Ginger
Dernehl/NA/Enron@ENRON, Gordon Savage/HOU/EES@EES, Harold G
Buchanan/HOU/EES@EES, Harry Kingerski/NA/Enron@ENRON, Iris Waser/HOU/EES@EES,
James D Steffes/NA/Enron@ENRON, James W Lewis/HOU/EES@EES, James
Wright/Western Region/The Bentley Company@Exchange, Jeff Messina/HOU/EES@EES,
Jeremy Blachman/HOU/EES@EES, Jess Hewitt/HOU/EES@EES, Joe
Hartsoe/Corp/Enron@ENRON, Karen Denne/Corp/Enron@ENRON, Kathy
Bass/HOU/EES@EES, Kathy Dodgen/HOU/EES@EES, Ken Gustafson/HOU/EES@EES, Kevin
Hughes/HOU/EES@EES, Leasa Lopez/HOU/EES@EES, Leticia Botello/HOU/EES@EES,
Mark S Muller/HOU/EES@EES, Marsha Suggs/HOU/EES@EES, Marty Sunde/HOU/EES@EES,
Meredith M Eggleston/HOU/EES@EES, Michael Etringer/HOU/ECT@ECT, Michael
Mann/HOU/EES@EES, Michelle D Cisneros/HOU/ECT@ECT, mpalmer@enron.com, Neil
Bresnan/HOU/EES@EES, Neil Hong/HOU/EES@EES, Paul Kaufman/PDX/ECT@ECT, Paula
Warren/HOU/EES@EES, Richard L Zdunkewicz/HOU/EES@EES, Richard
Leibert/HOU/EES@EES, Richard Shapiro/NA/Enron@ENRON, Rita
Hennessy/NA/Enron@ENRON, Robert Badeer/HOU/ECT@ECT, Roger Yang/SFO/EES@EES,
Rosalinda Tijerina/HOU/EES@EES, Sandra McCubbin/NA/Enron@ENRON, Sarah
Novosel/Corp/Enron@ENRON, Scott Gahn/HOU/EES@EES, Scott Stoness/HOU/EES@EES,
Sharon Dick/HOU/EES@EES, skean@enron.com, Susan J Mara/NA/Enron@ENRON, Tanya
Leslie/HOU/EES@EES, Tasha Lair/HOU/EES@EES, Ted Murphy/HOU/ECT@ECT, Terri
Greenlee/NA/Enron@ENRON, Tim Belden/HOU/ECT@ECT, Tony Spruiell/HOU/EES@EES,
Vicki Sharp/HOU/EES@EES, Vladimir Gorny/HOU/ECT@ECT, Wanda Curry/HOU/EES@EES,
William S Bradford/HOU/ECT@ECT, Kathryn Corbally/Corp/Enron@ENRON, Jubran
Whalan/HOU/EES@EES, triley@enron.com, Richard B Sanders/HOU/ECT@ECT, Robert C
Williams/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Greg Wolfe/HOU/ECT@ECT, James
Wright/Western Region/The Bentley Company@Exchange, Dirk vanUlden/Western
Region/The Bentley Company@Exchange, Steve Walker/SFO/EES@EES, Jennifer
Rudolph/HOU/EES@EES, Martin Wenzel/SFO/HOU/EES@EES, Douglas
Condon/SFO/EES@EES, wgang@enron.com, Scott Govenar <sgovenar@govadv.com>,
Hedy Govenar <hgovenar@mail.acom2.com> @ ENRON, jklauber@llgm.com
		 cc:
		 Subject: Legislative Status Report Week Ending 2/23

----- Forwarded by Jeff Dasovich/NA/Enron on 02/23/2001 06:15 PM -----

	"Julee Malinowski-Ball" <jmball@ns.net>
	02/23/2001 05:59 PM
	Please respond to "Julee Malinowski-Ball"

		 To: "Jan Smutny Jones" <smutny@iepa.com>, "Steven Kelley" <steven@iepa.com>,
"Katie Kaplan" <kaplan@iepa.com>
		 cc: "William Hall" <wfhall2@duke-energy.com>, "Tony Wetzel"
<twetzel@thermoecotek.com>, "Sue Mara" <smara@enron.com>, "Steven Kelley"
<steven@iepa.com>, "Steve Ponder" <steve_ponder@fpl.com>, "Steve Iliff"
<siliff@riobravo-gm.com>, "Stephanie Newell"
<stephanie-newell@reliantenergy.com>, "Ross Ain" <rain@caithnessenergy.com>,
"Roger Pelote" <roger.pelote@williams.com>, "Robert Lamkin"
<rllamkin@seiworldwide.com>, "Richard Hyde" <rwhyde@duke-energy.com>, "Randy
Hickok" <rjhickok@duke-energy.com>, "Paula Soos"
<paula_soos@ogden-energy.com>, "Nam Nguyen" <nam.nguyen@powersrc.com>, "Marty
McFadden" <marty_mcfadden@ogden-energy.com>, "Lynn Lednicky"
<lale@dynegy.com>, "Larrea, John" <John.g.Larrea@williams.com>, "kent
Palmerton" <kent.palmerton@williams.com>, "Ken Hoffman"
<khoffman@caithnessenergy.com>, "Kate Castillo" <ccastillo@riobravo-gm.com>,
"Kassandra Gough" <kgough@calpine.com>, "Jonathan Weisgall"
<jweisgall@aol.com>, "John Stout" <john_h_stout@reliantenergy.com>, "Joe
Ronan" <joer@calpine.com>, "Jim Willey" <elliottsa@earthlink.net>, "Jeff
Dasovich" <Jeff.Dasovich@enron.com>, "Jack Pigott" <jackp@calpine.com>, "Jack
Hawks" <jack.hawks@gen.pge.com>, "Hap Boyd" <rboyd@enron.com>, "Greg Blue"
<gtbl@dynegy.com>, "Frank DeRosa" <fderosa@sanfrancisco.usgen.com>, "Eric
Eisenman" <eric.eisenman@gen.pge.com>, "Eileen Koch" <eileenk@calpine.com>,
"Ed Tomeo" <ed.tomeo@uaecorp.com>, "Duane Nelson" <dnelsen@msn.com>, "Doug
Fernley" <fernley.doug@epenergy.com>, "Dean Gosselin"
<dean_gosselin@fpl.com>, "David Parquet" <dparque@ect.enron.com>, "Curtis
Kebler" <curtis_l_kebler@reliantenergy.com>, "Curt Hatton"
<Curt.Hatton@gen.pge.com>, "Craig Chancellor" <craigc@calpine.com>, "Cody
Carter" <cody.carter@williams.com>, "Carolyn Baker"
<cabaker@duke-energy.com>, "Bob Gates" <bob.gates@enron.com>, "Bob Escalante"
<rescalante@riobravo-gm.com>, "Bob Ellery" <bellery@spi-ind.com>, "Bill
Woods" <billw@calpine.com>, "Bill Carlson"
<william_carlson@wastemanagement.com>, "Joe Greco"
<jgreco@caithnessenergy.com>, "Theo Pathos" <theo@ppallc.com>, "Chuck Cole"
<ccole@advocation-inc.com>, "Anne Kelly" <kelly@hnks.com>, "Bev Hansen"
<bhansen@lhom.com>, "Cary Rudman" <cjrudman@softcom.net>, "Delany Hunter"
<dhunter@smithandkempton.com>, "DJ Smith" <djsmith@smithandkempton.com>,
"Hedy Govenar" <hgovenar@govadv.com>, "Jamie Parker" <jparker@hmot.com>,
"Marie Moretti" <mmoretti@mccabeandcompany.net>, "Maureen OHaren"
<Oharen@HMOT.com>, "Mike Monagan" <mrmonagan@aol.com>, "Phil Isenberg"
<Isenberg@HMOT.com>, "Robert Ross" <robbiz@cwo.com>, "Ron Tom"
<thackbarth@govadv.com>, "Scott Govenar" <sgovenar@govadv.com>, "Susan
McCabe" <smccabe@mccabeandcompany.net>, "Andy Brown" <ABB@eslawfirm.com>,
"Chris Ellison" <CTE@eslawfirm.com>, "Doug Kerner" <runwithmee@aol.com>,
"Dave Modisette" <dmodis@ns.net>
		 Subject: Legislative Status Report Week Ending 2/23

Date: 2/23/01
To: Jan Smutny-Jones, Steven Kelly, Katie Kaplan
Cc: IEP Board of Directors
From: Julee Malinowski-Ball, Edson + Modisette
RE: Legislative Status Report Week Ending 2/23

RECENT EVENTS:

-- The week started off on a very positive note.  Monday was a holiday!
Tuesday, however, inevitably came along to spoil all the fun with last
minute committee hearing announcements for some significant bills.

-- SB 39x (Speier) was heard this week in the Senate Energy Committee.  This
measure would define owners or operators of any electric generating facility
as a public utility subject to the state,s jurisdiction.  The bill also
places the CPUC in the role of determining scheduled maintenance outages for
generation units.  Although the bill goes much further, the author,s only
intention is to give the CPUC a role in coordinating power plant outages,
but seems to not understand the implications of doing it in the manner
outlined in the bill.  IEP opposed the bill and testified to that end along
with CMTA, the State Chamber of Commerce, Enron, WSPA, and the California
Cogeneration Council.  The usual cast of consumer groups supported the bill.
Of particular note during the hearing was the hostility shown to the
opposition by the Chair of the Committee, Senator Bowen.  The message from
the opposition clearly was ignored by the majority of the members as it
passed out of the committee on a party-line vote.  IEP is currently
reassessing its strategy on this particular issue because this is not the
only bill that proposes similar changes.

-- The Assembly Natural Resources Committee, chaired by Asm. Howard Wayne,
was scheduled this week to hear two siting bills.  The first was AB 34x (La
Suer), which would make various changes to the CEC siting process, including
some IEP-sponsored language.  IEP has a support if amended position on the
bill which has some technical and policy problems, but workable.  Last
minute amendments offered by Asm. Keeley forced Asm. La Suer to postpone a
hearing on the bill until next Monday (2/26).  However, because the Keeley
amendments basically gut the current language and turn it into a study bill,
La Suer is unlikely to accept them and, according to the negative committee
analysis, the committee is unlikely to approve the measure in its current
form.

AB 36x (Wright), on the other hand, passed the Natural Resources committee
with only one &no8 vote.  AB 36x would provide expedited siting for a
repower project, as defined.  However, despite IEP,s efforts to get the bill
amended, the current language would help few, if any, repower projects.  The
author has agreed to continue working with us, the environmental community
and the CEC to develop language that works for everyone.  IEP,s major issue
at this point is that is should actually work.  The measure was double
referred to the Assembly Energy Costs and Availability Committee and will be
heard there next.

-- The negotiated language on the QF issue finally has a vehicle, SB 47x
(Battin).  All stakeholders are not united in their complete support for the
measure.  IEP has may need some additional changes but will be mobilizing
members on Monday to educate Senators on the bill and support the measure in
the Senate Energy Committee when it is scheduled for a hearing.  Both SCE
and WSPA also have some outstanding issues, but only WSPA so far will be
opposing the bill.

-- SB 6x (Burton), which would establish and state power and financing
authority, passed off the Senate Floor 24 to 14 this week and is headed to
the Assembly Energy Costs and Availability Committee next. IEP met with
Senator Burton,s staff this week to talk about amendments to SB 6x relating
to limiting the Authority,s eminent domain powers.  Staff was open to what
we had to say but we have little confidence our recommendations will move
forward with the bill.  Regardless, IEP will continue to push for amendments
on the Assembly side.

-- SB 33x (Burton), which would require the Governor,s plan to purchase the
IOU,s transmission to be approved first by the Legislature, is still
awaiting consideration on the Senate floor.

-- The Governor had another press conference today to provide a status on
the negotiations between the state and the three IOUs regarding the purchase
of the utilities, transmission system.  Reuters is saying there the Governor
has a deal with SCE to purchase its share of the power grid for $2.76
billion.  Negotiations are still going on with PG&E and SDG&E.  More
information on press conference can be found on the Governor,s web site.

--  Attached is the most recent legislative tracking report which includes
all the special session bills introduced through yesterday.  Please let me
know if you need copies of any of these bills.

UPCOMING EVENTS:

MONDAY, February 26th
Assembly Natural Resources Committee
1:45 pm, Room 447.
AB 34x (La Suer) ) makes various changes to the siting process.

Assembly Energy Costs and Availability Committee
1:30 pm, Room 4202.
AB 38x (Jackson) ) relates to loan guarantees for renewable energy joint
venture agreements.

Senate Environmental Quality Committee
1:30 pm, Room 4203.
SB 28x (Sher/Battin) ) makes various changes to the siting process.

WEDNESDAY, February 28th
Assembly Revenue and Taxation Committee
1:30 pm, Room 126
AB 45x (Kelley) ) expands the MIC for certain energy production.

--end--

Julee Malinowski-Ball
Senior Associate
Edson + Modisette
916-552-7070
FAX-552-7075
jmball@ns.net

 - 2001 Tracking Report.doc


Dan, since you are the guru of these unwindings and whether there are others
which need to be unwound I am forwarding this to you.  Dan, also please let
me know what Ducote has accomplished with Entex
Sandi, I am sending this to you for Data Room background knowledge.
Thanks bng- ---- Forwarded by Barbara N Gray/HOU/ECT on 08/31/2000 06:13 PM
-----

	Anne C Koehler
	08/31/2000 05:47 PM

		 To: Dkeyes@velaw.com, dtomek@velaw.com, chriscollins@velaw.com,
gweatherby@velaw.com
		 cc: Barbara N Gray/HOU/ECT@ECT
		 Subject: Project Triple Lutz

I wanted to update each of you on a number of matters:

1.  On Tuesday of next week we plan to give copies of the Proposed Stock
Purchase Agreement and Lease (sublease) to the interested bidders.  The first
data room visits are scheduled to occur on Thursday the seventh.   Chris is
going to circulate a revised draft of the Stock Purchase Agreement to
everyone later today and everyone on the Enron team should have their
comments to me by Friday evening.

2.  With respect to the lease, in response to David's inquiry regarding
section 3.06, I think we should leave in all the parts of 3.06.  With respect
to subpart (v) would it be possible to leave it in but just handle the issue
of title etc as a rep.  Also, I would like to add a change of control
provision to the Lease and provide for a parent guarantee from an entity with
a credit rating acceptable to Enron.  I have yet to receive AnnMarie's
comments and questions, but I think you should go ahead and generate a new
draft for distribution Friday and AnnMarie will have the opportunity to
comment on the revised draft.  I would ask that the revised lease be reviewed
by Trina Chandler and Ed Osterberg as well.  Gail, please give me a call and
we can coordinate getting the revised draft lease to the appropriate
parties.

3. With respect to the unwind descriptions and the right to use agreement, I
would appreciate an update and an estimate on when the unwind descriptions
and a draft of the exclusive Right to Use agreement would be available.

4.  We have now been informed by the accounting gurus that  we can go ahead
and transfer the Entex contract to the purchaser of HPL and not have to undo
the marked to market position.  As a result, we will transfer the Entex
contract as well as the other contracts which cannot be in HPL to a new Enron
and sell the stock in the new sub along with the HPL stock.  There will be no
need for  a back to back contract.  However, we will need to unwind the cash
monetization transactions involving the Entex contract, as well as the one
involving the Union Carbide contract. (there may be others and we are
checking on them now.)

That is all for now.  I will keep you posted as things develop (and change!).

Anne C. Koehler
Sr. Counsel, ENA
EB 3832
713-853-3448


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 04/18/2000
08:23 AM ---------------------------

"Dale Nesbitt" <dale.nesbitt@altosmgmt.com> on 04/06/2000 01:47:15 AM
To: <vkamins@enron.com>
cc:
Subject: MarketPoint Business Plan Summary

Vince:

Thanks very much for your interest in our MarketPoint product, and thanks
for the hour you gave me this morning.  As promised, I am enclosing our
executive summary and first chapter from our business plan for you to take
forward to your management as a prospective Enron-MarketPoint investment
collaboration.  I want to reiterate that should Enron elect to be the lead
investor here, you will be exclusive in your industry if you want.  If Enron
wants to be the lead and ensure the entire second round of resources we
need, we would not offer and investment opportunity to other trading
companies, pipelines, or electrics until the third or subsequent rounds and
then only with your participation as a MarketPoint board member.  I am aware
you have coinvested with SAP in the past and that you might want to coinvest
with them again.  I presume you would not have a problem with
non-competitors such as EPRI, our management consulting service provider
partner, or our VC partner (but I would want guidance from you in this
arena).  I think you would find our VC partner very suitable and very
attractive.  They have done several interesting energy and trading plays,
and they would provide good management skills I believe.  I hope we can move
forward together.  I am looking forward to a positive response.  Thanks
again and best regards.

Dale Nesbitt

PS:  You might hear from Drew Ries of your Investments group.  I spoke with
him after speaking with you about many of the same issues.

 - longexecsum.DOC


For the most part the term of the back to back was 23 years.....with step up volumes.

BT

 -----Original Message-----
From: 	Kitchen, Louise
Sent:	Monday, October 01, 2001 4:47 PM
To:	Tycholiz, Barry
Subject:	RE: Memo

Just a quick question  - 23 years for PGT?

 -----Original Message-----
From: 	Tycholiz, Barry
Sent:	Monday, October 01, 2001 2:34 PM
To:	Kitchen, Louise
Subject:	Memo

Louise, please review and if you require more verbage I can add a lot more than this... I believe this captures the basic scope but if you think otherwise, let me know.

BT

 << File: MEMO- Louise Kitchen.doc >>


Yup, my little bro is coming to visit.  We'll definitely be hitting the town.  Are you around?  I may organize something, so I'll let you know.

Mat

agoldberg@compubank.com on 03/19/2001 11:48:27 AM
To:	Matt.Smith@enron.com
cc:

Subject:	RE: FW: Sat night - the plan

not back before the weekend.  Utah was great!  Tons of fresh powder and good
weather.  Are you in town this weekend?

Anna Goldberg
Legal Affairs and Business Development
CompuBank, N.A.
(713)479-1058-phone
(713)479-1052-fax
agoldberg@compubank.com

-----Original Message-----
From: Matt.Smith@enron.com [mailto:Matt.Smith@enron.com]
Sent: Monday, March 12, 2001 10:42 AM
To: agoldberg@compubank.com
Subject: RE: FW: Sat night - the plan

Once again, I was out when you sent me mail.  I went to NYC for a long
weekend.  Had a great time, but I'm still exhausted.  Hope you're having a
great time in Utah.  If you get back before the weekend, drop me an email.

Mat

agoldberg@compubank.com on 03/09/2001 02:16:13 PM

To:   Matt.Smith@enron.com
cc:

Subject:  RE: FW: Sat night - the plan

Hey Mat- hope you enjoyed your time off.  I'm heading to Utah for some
skiing next week for a little break myself.  Anything going on tonight?

Anna Goldberg
Legal Affairs and Business Development
CompuBank, N.A.
(713)479-1058-phone
(713)479-1052-fax
agoldberg@compubank.com

-----Original Message-----
From: Matt.Smith@enron.com [mailto:Matt.Smith@enron.com]
Sent: Monday, February 26, 2001 7:18 AM
To: agoldberg@compubank.com
Subject: Re: FW: Sat night - the plan

Hey Anna,

Sorry, I took awhile getting back to you....I took the week off...

Ya, we tried meeting up, but I guess you guys must have left before we got
there.  Our dinner at Sambuca's took quite awhile, I think we made it to
Deans around 12:30 or so.  We checked there and the Hub, but no luck.  Hope
you guys had a good time, and I'm always up for another night out.

Mat

agoldberg@compubank.com on 02/22/2001 11:11:47 AM

To:   Matt.Smith@enron.com
cc:

Subject:  FW: Sat night - the plan

Matt- I don't know if you remember me, but we met at Jennifer's party at
the
Black Lab.  Thought we were meeting up with y'all last Sat, night, but I
guess we missed each other.  Maybe we can try it again sometime soon.  Hope
you had a fun night without us :)

anna

Anna Goldberg
Legal Affairs and Business Development
CompuBank, N.A.
(713)479-1058-phone
(713)479-1052-fax
agoldberg@compubank.com

-----Original Message-----
From: Jennifer.Bagwell@enron.com [mailto:Jennifer.Bagwell@enron.com]
Sent: Friday, February 16, 2001 9:43 AM
To: Scott.Baukney@enron.com; Massimo.Marolo@enron.com;
Reagan.Rorschach@enron.com; Matt.Smith@enron.com; Chuck.Ames@enron.com;
Tara.Piazze@enron.com; Susan.M.Scott@enron.com; Kristin.Quinn@enron.com;
Michelle.Wenz@enron.com; Steinunn.Thordardottir@enron.com; Swanson ,
Anne; Jackson.Logan@enron.com; agoldberg@compubank.com;
Jason.Thompkins@enron.com; Elizabeth.Johnston@enron.com
Subject: Sat night - the plan

Dean's is located on Main between Prairie and Preston.

---------------------- Forwarded by Jennifer Bagwell/NA/Enron on 02/16/2001
09:45 AM ---------------------------

 (Embedded     Enron North America Corp.
 image moved
 to file:      From:  Jennifer Bagwell
 pic13648.pcx) 02/16/2001 09:34 AM

To:   Scott Baukney/NA/Enron@Enron, Massimo Marolo/NA/Enron@Enron, Reagan
      Rorschach/NA/Enron@Enron, Matt Smith/NA/Enron@ENRON, Chuck
      Ames/NA/Enron@Enron, Tara Piazze/NA/Enron@ENRON, Susan M
      Scott/HOU/ECT@ECT, Kristin Quinn/NA/Enron@Enron, Michelle
      Wenz/Corp/Enron@Enron, Steinunn Thordardottir/HOU/ECT@ECT, "Swanson ,
      Anne" <ASwans@coair.com>, Jackson Logan/HOU/ECT@ECT,
      agoldberg@compubank.com, Jason Thompkins/NA/Enron@Enron, Elizabeth
      Johnston/NA/Enron@Enron
cc:

Subject:  Sat night - the plan

Hello!  OK, for those of you who can make it (and I hope it will be all of
you), we are going to dinner at El Tiempo downtown (713-221-1695 @ Main &
Prairie) at 7:30 PM.  So, if you can make it to dinner, please come at 7:30
and we will reserve a big table.  If you can't make it to dinner, come to
El Tiempo for a margarita and then we will head over to Dean's after that.
Hope to see you all there!  And please feel free to invite others!  JB

If you need to reach me, my cell phone # is 713-417-8613.

(See attached file: pic13648.pcx)


NOTE:  YOU WILL RECEIVE THIS MESSAGE EACH TIME YOU ARE SELECTED AS A REVIEWER.

You have been selected to participate in the Year End 2000 Performance
Management process by providing meaningful feedback on specific employee(s).
Your feedback plays an important role in the process, and your participation
is critical to the success of Enron's Performance Management goals.

To complete requests for feedback, access PEP at http://pep.corp.enron.com
and select Perform Review under Performance Review Services.  You may begin
providing feedback immediately and are requested to have all feedback forms
completed by Friday, November 17, 2000.

If you have any questions regarding PEP or your responsibility in the
process, please contact the PEP Help Desk at:

Houston: 1.713.853.4777, Option 4
London:  44.207.783.4040, Option 4
Email: perfmgmt@enron.com

Thank you for your participation in this important process.

The following is a CUMULATIVE list of employee feedback requests with a
status of "OPEN."   Once you have submitted or declined an employee's request
for feedback, their name will no longer appear on this list.

Review Group: ENRON
Feedback Due Date: Nov 17, 2000

Employee Name                   Supervisor Name                 Date Selected
-------------                   ---------------                 -------------
APOLLO, BETH                    FERNLEY DYSON                   Oct 31, 2000
COUSINO, LISA B                 JAMES SCRIBNER                  Oct 27, 2000
JORDAN, MIKE T                  FERNLEY DYSON                   Nov 03, 2000
MASON, HEIDI                    FERNLEY DYSON                   Oct 26, 2000
MCLOUGHLIN, HECTOR              SHEILA H WALTON                 Oct 25, 2000
MURPHY II, THEODORE R           RICHARD B BUY                   Oct 30, 2000
PERLMAN, BETH S                 PHILIPPE A BIBI                 Oct 31, 2000
PORT, DAVID                     THEODORE R MURPHY II            Oct 30, 2000
SCHULTZ, CASSANDRA R            THEODORE R MURPHY II            Nov 03, 2000
SOLMONSON, MARY C               SALLY W BECK                    Oct 31, 2000
STOCK, STEPHEN                  BETH S PERLMAN                  Oct 31, 2000
WALTON, SHEILA H                DAVID OXLEY                     Oct 27, 2000


Kilburn, Bobbi would like to recall the message, "Vermont Yankee
Notification".


----- Forwarded by Gloria Solis/HOU/ECT on 09/19/2000 01:22 PM -----

	Christi L Nicolay
	09/19/2000 10:12 AM

		 To: Gloria Solis/HOU/ECT@ECT
		 cc:
		 Subject: TLR data to FERC

Please email to Steve Kean.
---------------------- Forwarded by Christi L Nicolay/HOU/ECT on 09/19/2000
10:00 AM ---------------------------

	From:  Christi L Nicolay                           09/19/2000 10:10 AM

To: Joe Hartsoe/Corp/Enron@Enron, James D Steffes/HOU/EES@EES, Charles
Yeung/HOU/ECT@ECT, Sarah Novosel/Corp/Enron@Enron, Donna
Fulton/Corp/Enron@ENRON, Richard Shapiro/HOU/EES@EES, Elizabeth
Sager/HOU/ECT@ECT, Lloyd Will/HOU/ECT@ECT, Steven J Kean/HOU/EES@EES
cc:

Subject: TLR data to FERC

Betsy and I talked about this today and I told her to send it to FERC.  This
shows that the most TLRs were called by AEP as security coordinator in Summer
2000.
---------------------- Forwarded by Christi L Nicolay/HOU/ECT on 09/19/2000
09:55 AM ---------------------------

brca@dynegy.com on 09/19/2000 09:41:18 AM
To: scott.miller@ferc.fed.us, kim.bruno@ferc.fed.us, JJHA@dynegy.com,
cnicola@enron.com, chrm@dynegy.com, pges@dynegy.com
cc:

Subject:

Scott and Kim, here is some more EYE POPPING TLR data for your investigation.
Betsy Carr

Vann Prater
09/18/2000 07:36 PM

To:   Chris Moser/NGCCorp@NGCCorp, Jolly  Hayden
cc:

Subject:  TLR Logs

FYI
---------------------- Forwarded by Vann Prater/NGCCorp on 09/18/2000 07:35 PM
---------------------------

Don Benjamin <don.benjamin@nerc.com> on 09/18/2000 10:58:50 AM

To:   don.benjamin@nerc.com
cc:    (bcc: Vann Prater/NGCCorp)

Subject:  TLR Logs

Dear OC, MIC, AC, SCS, Regional Managers:

Here are the monthly and Security Area TLR Log graphs with updates from TVA
and Allegheny Power.

Note to SCS:  Please check to make sure the data we have for you is correct.

Joe will update these graphs monthly.

don.

 - LogProgression5.xls
 - LogProgression_BySecCoor6.xls


Reminder
The Enron Oral History Project Continues...

"Using History to Help Enron Become the World's Leading Company"

How can an understanding of strategic choices, regulatory change and corporate culture help Enron achieve its vision?

Speaker:
Joseph Pratt, Cullen Professor of History and Business, University of Houston
and
 Co-Director, Enron Oral History Project

Thursday, June 7
11:30 a.m. to 12:30 p.m.
EB 5C2

To Make a Reservation, Call 3-1941 and Select Option 1

Lunch will not be provided, but you are welcome to bring your own.

Please inform us ahead of time if you need special accommodations to participate in this meeting.  Call 3-9390.


Thank you for having taken the time to meet with me.

I am enclosing for your information a generic set of compliance procedures
suited to a trading environment.  This type of policy document could be a
part of a group of materials and training programs aimed at avoiding market
abuse and anti-competitive behavior, and in any event, controlling any
damage from any violative conduct by demonstrating the company's diligent
good faith efforts to comply with applicable law and regulation.  If you
wish to pursue this further, we would be delighted to assist.

Since the real value of such a program comes from marrying general legal
principles with relevant market situations, I would suggest that (1)
materials and training focus on well crafted business-specific hypotheticals
and that legal principals be explained to the degree necessary to address
those situations; and (2) the project involve a close collaboration whereby
you supply insights into the relevant business situations and we prepare the
written materials which are then used in a video taped training session(s)
at your office in which we jointly present and analyze the hypotheticals
with an emphasis on taking questions and providing practical approaches.

David Yeres
Clifford Chance Rogers & Wells
200 Park Avenue
New York, NY 10166
Tel: (212) 878-8075
Fax: (212) 878-8027
email: david.yeres@cliffordchance.com

 <<1203343_1.DOC>>

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

This message and any attachment are confidential and may be privileged or
otherwise protected from disclosure.  If you are not the intended recipient,
please telephone or email the sender and delete this message and any
attachment from your system.  If you are not the intended recipient you must
not copy this message or attachment or disclose the contents to any other
person.

For further information about Clifford Chance please see our website at
http://www.cliffordchance.com or refer to any Clifford Chance office.

 - 1203343_1.DOC


Attached is the FINAL Name Change/Merger report for March 2001.  Please note
that the most recent overlays are on top because unlike the others, prior
notification has not been given.  These were just done last night and this
morning.  For the complete report, go to the bottom tab, "March 2001".

The shortname changes will be coordinated with ERMS IT today, Fri, 03/23/01.

Records will be inactivated on Mon, April 2, 2001.

FYI - On the Feb 2001 report, there were several PG&E entities that went
through name changes to El Paso entities.  There were also 3 TECO
conversions.  We did not have the documentation to support those changes, as
noted on the report.  As of 03/22/01, all documentation for those changes are
in hand.

Regarding the Coastal/El Paso merger, the documents that support name changes
as a result of that merger, have been received.  If you are interested in
more details regarding the remaining entities, they are attached below.

We have made a few changes to our Name Change/Merger Notification Report - it
now has a new look and a couple of features we hope will assist you.  For
more information, please click below:

Each month now has two sheets, a summary sheet (eg Jan 01 Changes) and a
detailed sheet (eg Jan 01).
Click below for more information:

The summary sheet can be used to view all changes after a certain date.  If
you're aware of all changes up to, say, January 15th enter 01/16/2001 in cell
C6 of the Summary Sheet and click the Sort button in cell H6.  All changes
made to the report on or after January 16th will be listed automatically.
The Summary sheet may also be sorted for certain criteria - use the drop down
arrows alongside the column headers to make your selection.

This sheet contains all the information you are used to seeing, but slightly
reformatted.  Key points are:
In the case of an Inactivation, the cause of the Inactivation (eg Merger) is
listed in the Comments section
As with the previous format,
all months' reports will be sent cumulatively throughout the year
the report will be sent out twice each month, on the 15th and at the end of
the month.

It is our aim to publish the report in Livelink and to send out only the
summary sheet and a URL for the detailed report each month.  This will save a
lot of space in Lotus Notes and we hope it will streamline your monitoring
process.

We'd be very happy to receive any comments you may have.

Please call if there are questions or concerns.

Cheryl x33103


Re;  enovate/Peoples
---------------------- Forwarded by Kay Mann/Corp/Enron on 03/06/2001 10:39
AM ---------------------------

"Boyd J. Springer" <bjspringer@JonesDay.com> on 03/05/2001 12:04:15 PM
To: kay.mann@enron.com, gregg.penman@enron.com
cc:

Subject: Master Sales Proceeding

I called Jerry Fox to check on the status of the ICC Staff's testimony
which was to be filed Feb. 28. Jerry reports that Staff requested an
extension until March 29 to file their testimony. Staff has indicated that
it intends to conduct further discovery, i.e. send more data requests.
Jerry also says that Staff has inofrmed Peoples informally that it is
(apparently strongly) opposed to approval of the filing. Jerry says that
Peoples is considering whether to withdraw its Petition for approval. As I
understand it, this depends on whether there is a way to pursue
transactions with enovate without a need for approval (presumably under the
"market price" exception to the approval requirement.) I suggested that it
may be preferable to wait until Staff files its testimony (explianing its
position) before making a decision about withdrawal. Jerry says Peoples'
concern is the additional disocvery which may be conducted. As I understand
it, the case is being discussed internally at Peoples. I don't know whether
Peoples has discussed this with you (Gregg) or anyone at enovate.

==========
The preceding e-mail message (including any attachments) contains
information that may be confidential, be protected by the attorney-client
or other applicable privileges, or constitute non-public information.  It
is intended to be conveyed only to the designated recipient(s).  If you are
not an intended recipient of this message, please notify the sender by
replying to this message and then delete it from your system.  Use,
dissemination, distribution, or reproduction of this message by unintended
recipients is not authorized and may be unlawful.
==========


CALENDAR ENTRY:	APPOINTMENT

Description:
	ETS GAS Control Mtg. conference room EB4102

Date:		1/8/2001
Time:		8:00 AM - 9:00 AM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 05/02/2001
03:07 PM ---------------------------

	From:  Jason Sokolov                           05/02/2001 01:18 PM

To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Stuart Hamel's paper

---------------------- Forwarded by Jason Sokolov/HOU/ECT on 05/02/2001 01:18
PM ---------------------------

"Stuart Hamel" <srhamel@duke-energy.com> on 05/02/2001 12:03:26 PM
To: jason.sokolov@enron.com
cc:
Subject: paper

(See attached file: paper3.doc)

 - paper3.doc


CALENDAR ENTRY:	APPOINTMENT

Description:
	Weekly staff mtg eb3014

Date:		8/21/2000
Time:		2:30 PM - 3:30 PM (Central Standard Time)

Chairperson:	Stacey W White

Detailed Description:


The attached legal name changes have been made in GCP.  The CXY Marketing
entities and Canadian Occidental records were overlayed due to a name change
to Deven.  See attachment for details.

.


Debra,

I e-mailed the forms to Brad. However, I can't locate Bryant Fryhart's e-mail
address. Please let me know if you have that address.

Majed Nachawati
Enron North America
Legal Department
1400 Smith Street
Houston, Texas 77002
Majed.Nachawati@enron.com
713-345-2722 DD
713-646-3393 Fax


what does this new website look like?  can i see a demo version?

what have we defined as current limits?


I am not getting that apartment I showed you.
I decided that I didn't want a roommate.

B.


I don't know where we stand on reviewing the derivatives situation for the
referenced counterparty, but Frank Davis with EOL just called and the
counterparty is applying for a password, so he wanted to refresh his memory
why we wouldn't open them up for derivatives trading.  I told him that we
were just looking at their situation last week, and to give your name & # to
the counterparty if they question why they can't trades derivatives.  It
isn't clear to me that we're ready to change our opinion on them yet.


OK, I changed my mind...the answer is yes.

-----Original Message-----
From: Laurel Hazzard [mailto:lhazzard@firstam.com]
Sent: Thursday, November 01, 2001 4:18 PM
To: Smith, Matt
Subject:

If i worked at your work, would you like me?


CALENDAR ENTRY:	APPOINTMENT

Description:
	meet w/ donnie re: transmission

Date:		9/29/2000
Time:		9:30 AM - 10:30 AM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


The Fortune article is out.  Classic Bethany McClean.  It sucks, as we expected.
 -----Original Message-----
From: 	Schmidt, Ann M.
Sent:	Thursday, September 06, 2001 7:59 AM
Subject:	Enron Mentions

Enron's Power Crisis
Fortune Magazine, 09/17/01

Enron Offers to Complete Indian Power Plant If Govt Backs Sale
Bloomberg, 09/06/01

INDIA PRESS: Enron Proposes 3-Stage Sale Of Dabhol Stake
Dow Jones International News, 09/06/01
More companies looking to hedge their exposure to volatile energy prices
Associated Press Newswires, 09/06/01
Enron still plans sale of Portland General
Houston Chronicle, 09/06/01
Power regulators still debating decisions on key energy issues
Associated Press Newswires, 09/05/01

First/Energy
Enron's Power Crisis
Bethany McLean

09/17/2001
Fortune Magazine
Time Inc.
48
(Copyright 2001)

"Bizarre" is how everyone describes it. On Aug. 14, Enron CEO Jeff Skilling--a self-described "brilliant" 47-year-old who says he's never suffered any kind of failure--announced he was relinquishing his title and leaving the company after a mere six months in the top job. Skilling insisted that the parting was voluntary, laying the blame on unspecified personal, non-health-related reasons. But by leaving when and how he did, Skilling forfeited a roughly $20 million severance package and gained the responsibility of repaying a $2 million loan that Enron would have forgiven had he stuck around until the end of the year.
More bizarre than his timing is how quickly Enron's once tight relationship with Wall Street deteriorated during Skilling's reign. The ex-CEO was famously boastful--insisting that Enron's nascent broadband trading business was worth $35 billion--and thin-skinned, declaring on a conference call that a money manager who dared ask for a balance sheet was an "asshole."
The task of restoring Enron's glory falls to Ken Lay, the company's chairman and former CEO, who has replaced Skilling. He's got his work cut out. Enron's "overall quality of earnings has deteriorated, its level of behind-the-scenes financial engineering has increased, and its overall standing with the Street has plunged," wrote UBS Warburg analyst Ron Barone in a recent report--and Barone is one of the bulls. Despite Lay's insistence that there aren't any "accounting issues, trading issues, or reserve issues" at Enron, investors are hesitant to bid the company back up. Indeed, Enron now trades at around $38, down some 60% from its 52-week high.
One reason Lay's job is so tough is that, as FORTUNE pointed out in March (see "Is Enron Overpriced?" on fortune.com), Enron's financials are on the dim side of opaque. While Wall Street was once willing to take the company's word on financial performance, it no longer is. And because Enron gives analysts so little to work with, building independent models is next to impossible. Enron's major business, the trading and marketing of energy, is relatively new and extremely complicated. Seemingly basic questions--like the effects of lower natural gas prices and less volatility in the energy markets on Enron's profits--are still unanswered. And there's confusion about the relationship between Enron's reported earnings, which reflect changes in the value of its energy-trading portfolio, and the actual cash coming in. In the first half of the year, Enron reported net income of $810 million and cash flow from operations of negative $1.3 billion.
Then there's the challenge of convincing investors that Enron itself believes it has a rosy future. High-level executives besides Skilling have recently left, and analysts like Jeff Dietert at Simmons say insider selling has been "aggressive" recently. While Enron executives still hold big chunks of stock, according to Thomson Financial/Lancer Analytics, insiders have sold 1.75 million shares in 2001--and they've sold as the stock has fallen, which is generally regarded as a bad sign. Among the biggest sellers: Lay, who has sold 408,000 shares at prices ranging from $81 last winter to $43 in July. Other sellers have included two executives who have since resigned: new business unit head Lou Pai and broadband chief Kenneth Rice. Enron says that sales are related to the pending expiration of options.
Lay is moving swiftly to address those concerns. He's promised the Street more disclosure about Enron's operations, and to combat criticism about Enron's weak bench he recently announced a new office of the chairman, anointing veterans Greg Whalley and Mark Frevert to help him run the company. No word yet on whether he plans to start buying Enron stock.
Quote: Wall Street will no longer take the company's word on financial performance.

COLOR PHOTO: BRAD HINES Why did Skilling quit? Mum's the word.
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.

Enron Offers to Complete Indian Power Plant If Govt Backs Sale
2001-09-06 03:15 (New York)

Enron Offers to Complete Indian Power Plant If Govt Backs Sale

     Mumbai, Sept. 6 (Bloomberg) -- Enron Corp. said it will
finish building a $3 billion power plant in India if the
government backs a plan by the biggest energy trader to sell its
majority stake in the unprofitable venture to local banks.

     Work stopped in June on the second construction phase of the
power station in Maharashtra state because the plant's sole
customer, the state electricity board, owes $64 million in unpaid
bills and ceased buying power in May. The expansion, which is 95
percent complete, would add 1,444 megawatts of capacity.

     Enron offered to sell its 65 percent stake in Dabhol Power
Co., the plant's owner, in three tranches to local banks that
helped finance the project, Business Standard reported, citing a
letter to India's Prime Minister Atal Behari Vajpayee from Enron.

     ``We are willing to complete the project at cost should they
(government) proceed with our plan,'' said Jimmy Mogal, a
spokesman for Dabhol Power Co., Enron's local unit.

     Enron would sell 40 percent of its shares in Dabhol once
negotiations with construction operators to finish the work begin.
It would sell a further 50 percent of its stake once construction
restarts in April 2002. The rest would be sold when the project is
completed by January 2003, the paper said.

     Contractors stopped work on the expansion in June because
they hadn't been paid since April.

    Indian banks loaned $1.4 billion to Dabhol without government
guarantees on the loans. The $600 million lent by ABN Amro, Bank
of America Corp. and other overseas banks is covered by government
guarantees.

     Indian lenders would have to disburse about $320 million for
completion of project, which includes construction of a 5 million-
ton liquefied natural gas import and storage facility.

INDIA PRESS: Enron Proposes 3-Stage Sale Of Dabhol Stake

09/06/2001
Dow Jones International News
(Copyright (c) 2001, Dow Jones & Company, Inc.)

NEW DELHI -(Dow Jones)- Enron Corp. (ENE) is proposing to sell the foreign equity in India's Dabhol Power Co. to Indian financial institutions through a three-part payment structure extending until Jan. 1, 2003, reports the Business Standard.
Enron holds a 65.86% stake in DPC, the Maharashtra State Electricity Board, or MSEB, holds 14.14%, and Bechtel Corp. (X.BTL) and General Electric Co. (GE) each hold 10%.
Dabhol is a 2,184-megawatt power project in the western Indian state of Mahrashtra.
Enron wants to sell its equity in DPC following payment disputes with its sole buyer, MSEB, and the federal government's failure to honor its counterguarantee.
DPC's 1,444-megawatt phase II is about 95% complete. Its construction was abandoned by the contractor because of DPC's inability to pay.
Under the structure, Enron has asked for initial payment of 40% of the purchase price of the entire foreign equity at the start of renegotiations between potential buyers and construction operators.
The second installment of 50% has to be paid at the resumption of construction of the second phase of the project, or by April 1, 2002, whichever is earlier. The third and final installment of 10% has to be paid at the time of mechanical completion of the 2,144-MW power plant and regassification facility, or by Jan. 1, 2003, whichever is earlier, the report says.
In a proposal submitted to Prime Minister Atal Bihari Vajpayee, Enron has said in the event the federal government doesn't directly purchase the foreign equity, it should guarantee the payment obligation in full.
The $2.9 billion Dabhol project has an equity component of $1 billion, with foreign players, including Enron, contributing $858.6 million. India's financial institutions have a total exposure of over 60 billion rupees ($1=INR47.16), the report says.
The Indian financial institutions, currently preparing a plan for the project's early revival, are considering Enron's proposal, the report said.
Web site: http://www.business-standard.com

-By Himendra Kumar; Dow Jones Newswires; 91-11-461-9426; himendra.kumar@dowjones.com

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

More companies looking to hedge their exposure to volatile energy prices
By BRAD FOSS
AP Business Writer

09/06/2001
Associated Press Newswires
Copyright 2001. The Associated Press. All Rights Reserved.

ATLANTIC CITY, N.J. (AP) - Harrah's Entertainment Inc. is willing to bet on many things. The cost of energy isn't one of them.
Stung by high electricity and natural gas prices last year, Harrah's is not taking any more chances when it comes to buying the power to keep its casino on the New Jersey shore as bright and noisy as the nearby boardwalk and as cool as an Atlantic breeze.
The company has since locked in long-term supply contracts at fixed prices with Houston-based Enron Corp., joining the growing legion of hotels, manufacturers, retailers and technology firms behaving more like utilities in terms of hedging their exposure to volatile energy prices.
In January, Harrah's Atlantic City - 86,000 square feet of casino space and more than 1,100 hotel rooms - rang up a natural gas bill that topped $220,000, nearly quadruple what it normally pays during a winter month.
Under the 7-year deal with Enron, Harrah's agreed to pay roughly $5 per 1,000 cubic feet for a certain amount of natural gas.
"We wanted to put ourselves in a position where we could even the playing field and not worry about those price spikes," said Stuart Thomas, who oversees energy procurement at Harrah's.
Last winter, the retail price soared above $10 per 1,000 cubic feet in many parts of the country, and as high as $19 per 1,000 cubic feet in New Jersey.
At $5 per 1,000 cubic feet, Harrah's natural gas bill last January would have been closer to $60,000.
While Harrah's will be buffered from the worst-case scenario next January, the company could miss out on some savings if natural gas prices dip below what they've agreed to pay Enron. Harrah's executives said that is a tradeoff they will accept.
"We didn't do it to save money," said Thomas, emphasizing that Harrah's $40 million-a-year energy bill is a tiny fraction of its overall costs. "We did it to manage risk."
Harrah's is not alone. Eli Lilly & Co., IBM Corp., Kraft Foods Inc., Saks Inc. and Solvay Polymers Inc. are just some of the companies that have energy management deals with Enron, Duke Energy Corp. and Reliant Resources Inc.
Enron's energy services unit is head and shoulders above its closest rival in this emerging field, signing $40 billion in contracts since it was created in 1997. After $200 million in losses since 1998, it recorded its first profits of $100 million in profit in the first half of 2001.
Jeremy Blachman, the division's chief operating officer, attributes the success to the breadth of its portfolio, which includes deals with food and beverage giant Quaker Oats Co. and the Archdiocese of Chicago, which signed a seven-year agreement worth nearly $250 million.
"Over the last couple of years, and particularly the last 6 to 9 months, we have seen our business go across markets," Blachman said.
A.G. Edwards & Sons analyst Mike Heim said Enron's energy services unit, which is essentially a seller of electricity and natural gas at retail prices, remains but "a blip" within Enron, which gets 80 percent of its profit from wholesale marketing and trading.
But if power and natural gas prices remain volatile, "it has the potential to become 10 to 20 percent of their business down the line," Heim said.
Makers of chemicals, fertilizer, glass and steel - some of the most energy-intensive industries in the United States - were hit the hardest in the past 18 months as natural gas and electricity soared to prices never seen before.
Companies that were not protected with long-term contracts took it in the neck, said P.J. Juvekar, a senior chemicals analyst at Salomon Smith Barney.
After Dow Chemical Co., which was protected, completed its purchase of Union Carbide Corp., which wasn't, Dow was hit with a first-quarter loss of $685 million, compared with a profit of $512 million a year earlier.
"Most of the disappointment came from the Carbide side, where they were fully exposed to $10 (per 1,000 cubic feet) natural gas prices without any hedges," Juvekar said.
Companies that were protected from last year's energy spikes recognized earlier on that "we didn't feel as comfortable as the market deregulated," said Michael Thaman, chief financial officer of fiberglass giant Owens Corning, which needs massive quantities of natural gas and electricity to melt billions of pounds of glass each year.
"We certainly don't have any illusions about our ability to beat the market," said Thaman, whose company signed a 10-year contract with Enron worth $1 billion.
In the case of Harrah's, the most important thing was to rein in energy costs without skimping on amenities at the casino or hotel, said Bill Simpson, facilities manager at the Atlantic City property.
Shutting down unused slot machines - 3,500 are on at all times - or adjusting the casino floor thermostat - set at a constant 70 degrees - were never considered last winter even as natural gas and electricity prices soared to record levels. Neither was passing along the costs to hotel guests by adding an energy surcharge on their bills, a strategy pursued by many hotel companies.

With AP Photo NY827
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.

Sept. 6, 2001, 12:31AM
Briefs: City and state
Enron still plans sale of Portland General
NEW YORK -- Enron Corp. said Wednesday it still plans to sell its Portland General utility in Oregon.
Enron has been trying to sell the utility for more than a year. A $3.1 billion sale to Sierra Pacific Resources collapsed in April because the California power crisis made it too difficult to win approval, the companies had said.
Enron is "getting close to another transaction" involving Portland General, Chairman and Chief Executive Kenneth Lay said at a Lehman Bros. energy conference in New York.

Power regulators still debating decisions on key energy issues
By KAREN GAUDETTE
Associated Press Writer

09/05/2001
Associated Press Newswires
Copyright 2001. The Associated Press. All Rights Reserved.

SAN FRANCISCO (AP) - State power regulators were poised Thursday to suspend direct access, the option that allows Californians to choose their electricity provider.
Though a mere 200,000 Californians switched from their local utility to companies such as Green Mountain Energy or Enron, the Legislature has ordered the Public Utilities Commission to temporarily end consumer choice to keep three struggling utilities from losing more customers.
Pacific Gas and Electric Co., Southern California Edison Co. and San Diego Gas and Electric Co. are each are on the hook for the more than $9.5 billion the state spent buying electricity on their customers' behalf this year.
The PUC is expected to suspend direct access retroactively to July 1. Energy service providers, such as solar and wind-powered electricity seller Green Mountain Energy, say it's unconstitutional, and have vowed to fight the PUC in court.
Likely to be missing from Thursday's meeting are several key issues that would affect Californians' electric bills:
- A proposal to grant the state's power-buying agency the authority to raise electric rates on its own without PUC review to ensure such rates are justified.
- A proposal to raise rates for San Diego Gas and Electric Co. residential customers by an average of 12 percent.
- A proposal that bills Pacific Gas and Electric Co. $6.5 billion, Southern California Edison Co. $4 billion and SDG&E $1.5 billion to help the state recoup its power-buying costs.
PUC President Loretta Lynch said the commission needs more time to review a flood of comments from utilities, consumer advocates and other parties to those decisions.
The state plans to recover some of the money it has spent buying power by collecting a portion of ratepayer money.
The more ratepayers each utility has, the lighter the blow to each customer's electric bill. But it would come at the expense of consumer choice, which lawmakers had promoted as the method by which deregulation would foster competition and lead to lower electric rates.
Rick Counihan, vice president and general manager of Green Mountain Energy, said if the PUC suspends consumer choice until the state stops buying power for the utilities - potentially a decade down the road - consumer choice is dead.
"(Direct access) was one of the few good things that came out of the restructuring," Counihan said.
Just as some environmentally conscious customers buy organic produce or recycled paper products, the option to leave their utility and buy power largely generated by the wind or sun was another way they could make a difference, he said.
Under the PUC plan, customers who signed up with an energy provider before July 1 could keep their contracts until they expire. Deals signed after that date would be nullified, and the customer would be forced to return to a local utility.
PUC Commissioner Richard Bilas, a vocal proponent of direct access, is hopeful it could resume after the finances of PG&E, Edison and SDG&E improve.
"When the utilities get back in the business - if they ever get back in the business of going out and buying electricity on behalf of themselves - that could open up direct access again," Bilas said. He predicted that could happen 18 months from now.
Counihan was less optimistic.
"I'm very skeptical that we, or other providers, will come back to California," Counihan said. "We'll very likely take our marketing activities and reallocate to other states that are more friendly."
Counihan also worried a temporary suspension would give the big three utilities no incentive to retain an infrastructure of computers and other technology put into place to process customers who switched to the alternative energy firms.
---
On the Net:
http://www.cpuc.ca.gov

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


Steve:

Sorry for the delay in getting this to you.  Hope this is what you had in
mind.

My thinking on this was to give the Commissioners a tour of the world, with
examples drawn from the pieces sent in by your team members.  The other two
panelists are the president of NEMA, and Donna Bobbish, an attorney.  So we
would definitely have more of substance to say on international market access
and regulatory issues in the countries in which we operate.

The theme is as you suggested: success is measured in market penetration by
new entrants, not in announced reforms or new treaties and pronouncements.

We could then submit separately the full presentations from the regional team
leaders.  But since you have 10-15 minutes to testify, you might consider
this 30,000 foot level presentation, then follow up with specifics in the Q&A
session.

Please look it over and we can discuss.  You can call me tomorrow at
202-466-9166.  Otherwise I'll meet you for dinner tomorrow night at your
hotel, and I can make substantive changes then, in time for the 9:30
presentation on Tuesday morning.

Regards,
Steve Burns


Hi there,

I'm attaching the latest version of the purchase agreement.  I will prepare a
compared version in the am if you will tell me which version you want it
compared against.

Talk to you soon,

Kay


I am planning to be out Friday, Oct. 27 and Monday, Oct. 30.


Dear Gang:
I don't know about you folks, but I woke up to over 100 emails from Telecom
Reports today.  It seems to border on spam at this point.  Is anyone else
having this experience?  The info is very valuable, but I'm wondering if
there's a way to get, say, 3 emails a day rather than the 50 or more I'm
currently receiving.

Wondering if the lights will stay on today,
Jeff

	Margo Reyna
	01/24/2001 09:20 AM

		 To: Sue Nord/NA/Enron@Enron, Scott Bolton/Enron Communications@Enron
Communications, Tracy Cooper/Enron Communications@Enron Communications, Lara
Leibman/Enron Communications@Enron Communications, Donald Lassere/Enron
Communications@Enron Communications, Mona L Petrochko/NA/Enron@Enron, Barbara
A Hueter/NA/Enron@Enron, Jeff Dasovich/NA/Enron@Enron, Susan M
Landwehr/NA/Enron@Enron, Marchris Robinson/NA/Enron@Enron, Ricardo
Charvel/NA/Enron@Enron, Stephen D Burns/Corp/Enron@ENRON, Xi Xi/Enron
Communications@Enron Communications, Matthew Jachimiak/HOU/ECT@ECT, William
Patrick Lewis/HOU/ECT@ECT, John Neslage/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Gia Maisashvili/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
		 cc:
		 Subject: Telecom Services: Broadband Services: USA:    Senators renew
high-speed Internet tax credit ...

Margo Reyna
Regulatory Analyst
Enron Corp., Government Affairs
Phone:  713-853-9191

----- Forwarded by Margo Reyna/NA/Enron on 01/24/2001 09:19 AM -----

	djcustomclips@djinteractive.com
	01/23/2001 05:56 PM
	Please respond to nobody

		 To: 123363@WCTOPICS.djnr.com
		 cc:
		 Subject: Telecom Services: Broadband Services: USA:    Senators renew
high-speed Internet tax credit ...

USA: Senators renew high-speed Internet tax credit bill.

01/23/2001
Reuters English News Service
(C) Reuters Limited 2001.
WASHINGTON, Jan 23 (Reuters) - A bill that would encourage businesses to
bring high-speed Internet access to underserved areas was reintroduced in the
Senate on Tuesday, with the hopes that President Bush would include the item
in his budget.
Computers equipped with a "broadband" or high-speed Internet connection can
download information at a rate of up to 1.5 megabits per second, or about 25
times faster than a standard, dial-up connection. While broadband access is
currently available in many business districts and affluent residential
neighborhoods, the service has not yet spread to less affluent or more
sparsely populated areas.
The bill would provide a five-year, 10 percent tax credit to Internet
companies that extend broadband service to rural or underserved urban areas.
Companies who build "next generation" networks, with download speeds of up to
22 megabits per second, would receive a 20 percent, five-year credit.
The bill was introduced by Republican senators Olympia Snowe of Maine and
Orrin Hatch of Utah, and Democrats Jay Rockefeller of West Virginia and John
Kerry of Massachusetts. It was co-sponsored by 32 other senators.
The 36 senators sent a letter to President Bush urging him to include the
bill in his initial budget proposal.
The bill attracted the support of 59 senators and 115 House members last
year, the letter claimed.

Folder Name: Telecom Services: Broadband Services
Relevance Score on Scale of 100: 83

______________________________________________________________________
To review or revise your folder, visit Dow Jones CustomClips or contact Dow
Jones Customer Service by e-mail at custom.news@bis.dowjones.com or by phone
at 800-369-7466. (Outside the U.S. and Canada, call 609-452-1511 or contact
your local sales representative.)
______________________________________________________________________
Copyright (c) 2001 Dow Jones & Company, Inc. All Rights Reserved


Sally,

I am so excited for you and your promotion.  I have had the privilege to see
the impact you have made on this organization, and I am very glad to see you
get the rewards you well deserve.  You simply amaze me, and I have such a
tremendous amount of respect for you and your contributions and values.

CONGRATULATIONS!!!

Brenda


Attached is PIRA's latest "Electricity Daily Demand Forecast."

If you have any questions regarding the report's content, please contact
Morris Greenberg (email: morris@pira.com) or Victoria Watkins (email:
vwatkins@pira.com), at (212) 686-6808.

Contact Client Services regarding PIRA report distribution and address
changes at (212) 686-6808, email: support@pira.com.

NOTE: Circulation of the "Electricity Daily Demand Forecast" outside a
Client's licensed distribution area is strictly prohibited. Clients that
are unsure of their licensed distribution or require an extension of
their current license should contact their PIRA sales representative, or
email to sales@pira.com.

PIRA Energy Group

 - ed111401.pdf
 - ed111401.xls


You can file one at any time you have information to report, and they can be
as formal as a Commission filing or as informal as a letter to the
Commission with copies to the Public Staff.  The method would depend on what
information you wish to convey.

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Thursday, August 10, 2000 11:09 AM
To: Duncan, Allyson
Cc: Fine, Jonathan; 'Jeffrey.M.Keenan@enron.com';
'Tom.Chapman@enron.com'; 'Heather.Kroll@enron.com';
'Ozzie.Pagan@enron.com'; Ben.Jacoby@enron.com
Subject: RE: NCNG Delivery Points

Allyson,

Thank you for your prompt response.

Can you describe the process and timing for filing a project update?

Thanks,

Kay

"Duncan, Allyson" <aduncan@kilstock.com> on 08/10/2000 09:45:11 AM

To:   "'Kay.Mann@enron.com'" <Kay.Mann@enron.com>
cc:   "Fine, Jonathan" <JFine@kilstock.com>, "'Jeffrey.M.Keenan@enron.com'"
<Jeffrey.M.Keenan@enron.com>, "'Tom.Chapman@enron.com'"
<Tom.Chapman@enron.com>, "'Heather.Kroll@enron.com'"
<Heather.Kroll@enron.com>, "'Ozzie.Pagan@enron.com'"
<Ozzie.Pagan@enron.com>

Subject:  RE: NCNG Delivery Points

I inadvertently ended the sentence with a comma.  The point I was making
was
that if it were necessary to negotiate an additional delivery point, NCNG
would probably demand concessions such as an extension of the contract
period.  Hopefully, since we are only talking about a high pressure tap,
NCNG will have less leverage.

Jeffrey and I did talk about amending the application some time ago;  he
expressed the concern that the description of the generators might be
misleading unless either more or less data were supplied, and he suggested
describing them more generally.  I think he was confortable with the fact
that the CPCN will be reviewed by electrical engineers who understand the
generators described without the elaboration he thought necessary.

One of the problems with amending the application is that you run the risk
that the Commission will adjust the time frames for intervention, etc.,
accordingly.  If you want to revise the description of the equipment, it
would be less dangerous to file a project update.

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Wednesday, August 09, 2000 6:48 PM
To: Duncan, Allyson
Cc: Fine, Jonathan; Jeffrey.Keenan@enron.com; Tom.Chapman@enron.com;
Heather.Kroll@enron.com; Ozzie.Pagan@enron.com
Subject: Re: NCNG Delivery Points

Allyson,

Thank you for the email.  It seems to stop in mid sentence, so I was
wondering if maybe something got deleted?

We have an interest in having the application for the CPCN amended to be
less specific on the equipment we will be using.  I believe Jeffrey may
have mentioned this to you before.  We would like to follow up with that
now, unless there is some significant problem with it.

Thank you,

Kay

"Duncan, Allyson" <aduncan@kilstock.com> on 08/07/2000 02:27:23 PM

To:   "'Mann Kay'" <Kay.Mann@enron.com>
cc:   "Fine, Jonathan" <JFine@kilstock.com>

Subject:  NCNG Delivery Points

There would seem to me to be two questions--the threshold one is whether
the
site is within Rocky Mount's service territory.  If it is, then what
obligation does NCNG have with respect to the construction of a delivery
point.  I haven't reviewed the annexation statutes yet, but based on my
initial reading of the Service Area Territory Agreement between Rocky Mount
and NCNG, once annexed the site would come within Rocky Mount's purview to
serve, and, although a "mutually agreeable" delivery point would have to be
negotiated, NCNG would at least have to negotiate that in good faith.

The January 13, 1992 Service Area Territory Agreement gives Rocky Mount the
right to distribute natural gas within the city's incorporated limits as
well as a specified area outside the incorporated limits.   The contract
goes on to provide that should any part of that perimeter be annexed into
the city, "the respective rights of the parties as to service in any such
portion shall be determined by applicable case law and the General Statutes
of North Carolina. . ."  The contract further provides that absent an order
of the NCUC to the contrary, NCNG agrees that Rocky Mount has the right to
serve all end users within the "aforementioned" area--presumably referring
to the annexed area, although the agreement is not a model of clarity.

So, at least based on this language, Rocky Mount's right to serve arguably
tracks its incorporated limits, whatever they might be.  (Jonathan and I
are
looking at annexation law to see what else might be lurking out there).

The 1992 Service agreement provides, In Article IV, provides that points of
devliery for all natural gas purchased or transported under the agreement
with NCNG shall be "at the following locations and other stations added at
mutually agreeable locations in the future. . ." In the Third Amendment to
the Natural Gas Service Agreement, dated March 10, 1997, new language and
delivery points are negotiated upon, but the principle is still included
that  other stations may be added at "mutually agreeable locations in the
future."  The question which then arises is what Rocky Mount would have to
give in exchange.  In the 1997 agreement, Rocky Mount agreed to an
extention
of terms of the of ten years, until December 6,


Hello Paul Thomas,

 This is an automated email delivery.  The following info is for
 tracking purposes only:

 Transaction: 0000201146
 Fulfillment: 00203618*00002
 Location   : 00007

 Industrial Information Resources, Inc.
 Customer Service Department
 (713) 783-5147

 - OUTAGE.dbf


yes, you were a little intoxicated when we spoke last night, but you were
sweet.  That is kind of creepy that it is a full moon on Halloween.  I need
to keep my cat inside because people steal cats on Halloween and skin them.
Well buck up little camper, in the scope of everything, things really aren't
that bad.  You could have to have life altering surgury.  Since this thing
with my family, it really has put a lot of things into perspective.  I hope
you feel better.  Call me later.

Love,
Laurel

-----Original Message-----
From: Smith, Matt [mailto:Matt.Smith@ENRON.com]
Sent: Wednesday, October 31, 2001 8:39 AM
To: Laurel Hazzard
Subject: RE:

i feel a little awful...plus i'm tired.  I hope you weren't looking
forward to speaking with a sober Mat yesterday.  i don't think i was
that drunk, but who knows.  plus, i must be allergic to something
because i can't stop sneezing.  oh, my life just sucks these days...j/k.
anyway, are you looking forward to tonight...especially with a nice full
moon...make sure to look out for the goblins...

-----Original Message-----
From: Laurel Hazzard [mailto:lhazzard@firstam.com]
Sent: Wednesday, October 31, 2001 10:28 AM
To: Smith, Matt
Subject:

Happy Halloween!

How are you feeling this morning?  I know you love email correspondence,
so
you'll be sure to write back.

**********************************************************************
This e-mail is the property of Enron Corp. and/or its relevant affiliate and
may contain confidential and privileged material for the sole use of the
intended recipient (s). Any review, use, distribution or disclosure by
others is strictly prohibited. If you are not the intended recipient (or
authorized to receive for the recipient), please contact the sender or reply
to Enron Corp. at enron.messaging.administration@enron.com and delete all
copies of the message. This e-mail (and any attachments hereto) are not
intended to be an offer (or an acceptance) and do not create or evidence a
binding and enforceable contract between Enron Corp. (or any of its
affiliates) and the intended recipient or any other party, and may not be
relied on by anyone as the basis of a contract by estoppel or otherwise.
Thank you.
**********************************************************************


CONGRATULATION on the new position.

:)  ,

Amie Ha


Anytime after 4:00 PM.

-Andy


Mary Hain has resigned her position with Enron.  Please remove her from all
your mail lists.

Thank you.

Lysa Akin
Gov't Affairs - Sr. Admin. Ass't.

	Enron Capital & Trade Resources Corp.

	From:  "CATHERINE MCCARTHY" <CPMCCART@LLGM.COM>
03/20/2001 03:35 PM

To: dale.rasmussen@enron.com, don.hammond@enron.com, mary.hain@enron.com
cc: "JOHN G KLAUBERG" <JKLAUBER@LLGM.COM>, "JOHN MAAS" <JMAAS@LLGM.COM>,
"THOMAS J. MOORE" <TMOORE@LLGM.COM>
Subject: Memo regarding Credit for Generation Interconnection Facilities

  Andrea Chambers asked me to forward the attached memorandum to you.

This e-mail, including attachments, contains information that is confidential
and it may be protected by the attorney/client or other privileges.  This
e-mail, including attachments, constitutes non-public information intended to
be conveyed only to the designated recipient(s).  If you are not an intended
recipient, please delete this e-mail, including attachments, and notify me by
return mail, e-mail or at (202) 986-8253.  The unauthorized use,
dissemination, distribution or reproduction of this e-mail, including
attachments, is prohibited and may be unlawful.

Cathy McCarthy
LeBoeuf, Lamb, Greene & MacRae, LLP
1875 Connecticut Avenue, NW
Washington, DC  20009

(202) 986-8253
cpmccart@llgm.com

 - memo.doc


I asked Friedenberg if we could have a sample copy of the Western US Natural
Gas Market Review to see if we want to subscribe.  Do any of you get this
now?  Let me know.  We use the Midwest Issue quite a bit.

I would appreciate your review of the publication and what your thoughts
are.  We can get in the 2000 budget yet if you want to subscribe and are not
already receiving.

Lorna
---------------------- Forwarded by Lorna Brennan/ET&S/Enron on 11/28/2000
02:36 PM ---------------------------

"Brent Friedenberg Associates Ltd." <bfa@bfa.com> on 11/28/2000 10:19:43 AM
To: <lorna.brennan@enron.com>
cc:

Subject: Complimentary issue of Western US Natural Gas Market Review

Please find attached a complimentary copy of the November 2000 issue of the
Western Review, which includes information on the California and Pacific
Northwest markets. If you have any questions, please do not hesitate to
contact us. Thanks.
Lori
--------------------------------------
Brent Friedenberg Associates
1052 Memorial Drive NW
Calgary, AB
Canada T2N 3E2

(403) 270-0700
(403) 270-0716 (fax)

bfa@bfa.com
www.bfa.com--

 - West200011.pdf


Start Date: 4/4/01; HourAhead hour: 17;  No ancillary schedules awarded.
Variances detected.
Variances detected in Load schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001040417.txt

---- Load Schedule ----
$$$ Variance found in table tblLoads.
     Details: (Hour: 17 / Preferred:   0.48 / Final:   0.05)
  TRANS_TYPE: FINAL
  LOAD_ID: PGE1
  MKT_TYPE: 2
  TRANS_DATE: 4/4/01
  SC_ID: EPMI


I will be out of the office September 18-19,2000 and will return Wednesday
September 20, 2000.  If you should need anything in the mean time please call
Sheila Walton at X30649 or the HR assistant Ramona Perkins at X58165.


Jim,

Attached is an Amendment to the Base Contract  for Short-Term Sale and
Purchase of Natural Gas (GISB) changing the Confirming Party in Section 2.5
to Enron North America Corp.  If in agreement, please print and sign two
originals and send same to my attention at the address below.  Upon final
signature, I will forward an original for your records.

Should you have any questions, please do not hesitate to give me a call.

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


Changed as requested.

	"Pfister, Christian W." <CWPfister@cps-satx.com>
	11/02/2000 02:10 PM

		 To: "'Dan.J.Hyvl@enron.com'" <Dan.J.Hyvl@enron.com>
		 cc:
		 Subject: FW: Enfolio Contract with CPS

Could you change paragraph iii at the end of Representations and Warranties
to read:

"(iii) its obligations to make payments hereunder are unsubordinated
obligations and such payments are operating and maintenance costs which
enjoy first priority of payment under the ordinances of the City of San
Antonio which govern payments by Customer."

There are no indentures to which CPS is a party.  Thanks ...

-----Original Message-----
From: Jon Wood [mailto:jwood@mattbran.com]
Sent: Thursday, November 02, 2000 11:15 AM
To: 'Pfister, Christian W.'; Jon Wood
Cc: Mc Whirter, Daniel D.
Subject: RE: Enfolio Contract with CPS

Change the clause after "first priority payment" in (iii) to "under the
ordinances of the City of San Antonio which govern payments by Customer."
There are no indentures to which CPS is a party.  Jon

-----Original Message-----
From: Pfister, Christian W. [mailto:CWPfister@cps-satx.com]
Sent: Thursday, November 02, 2000 8:29 AM
To: 'jwood@mattbran.com'
Cc: Mc Whirter, Daniel D.
Subject: FW: Enfolio Contract with CPS

Mr. Wood,

As requested, Enfolio shortened and simplified the section on
Representations and Warranties.  The new language is highlighted on page 2
of the Appendix and states the following:

"Further and with respect to Customer only, Customer represents and warrants
to Company continuing throughout the term of this Agreement as follows: (i)
all acts necessary to the valid execution and performance of this Agreement
have been duly adopted, (ii) with respect to the contractual obligations
hereunder and performance thereof, it is not entitled to claim immunity on
the grounds of sovereignty or similar grounds with respect to itself or its
revenues, (iii) its obligations to make payments hereunder are
unsubordinated obligations and such payments are operating and maintenance
costs which enjoy first priority of payment at all times under any and all
indentures to which it is a party."

Do you feel that this language is acceptable?  Thank you for your advice.

-----Original Message-----
From: Dan.J.Hyvl@enron.com [mailto:Dan.J.Hyvl@enron.com]
Sent: Wednesday, November 01, 2000 5:17 PM
To: CWPfister@cps-satx.com
Cc: Mc Whirter, Daniel D.; ."'James.I.Ducote""@enron.com'"
Subject: RE: Enfolio Contract with CPS

Please review the revised representations and warranties language. If
acceptable, please print 2 copies, sign and forward to Janet Wallis at
Enron for execution by Enron and return of one fully executed copy.
(See attached file: CITYPublicServiceSanAntonio.doc)

                    "Pfister,

                    Christian W."         To:     "'Dan.J.Hyvl@enron.com'"

                    <CWPfister@cps        <Dan.J.Hyvl@enron.com>,

                    -satx.com>            "'James.I.Ducote@enron.com'"

                                          <James.I.Ducote@enron.com>

                    10/30/2000            cc:     "Mc Whirter, Daniel D."

                    12:18 PM              <DDMcWhirter@cps-satx.com>

                                          Subject:     RE: Enfolio Contract
with CPS

If you could redraft the "representations and warranties" provision to be
simpler and clearer, I think that we could agree to it.  The other items
look fine.

-----Original Message-----
From: Jon Wood [mailto:jwood@mattbran.com]
Sent: Saturday, October 28, 2000 10:45 AM
To: 'Pfister, Christian W.'
Cc: 'ksyates@cps-satx.com'; Howard Bye
Subject: RE: Enfolio Contract with CPS

My reading is that Enron seeks a continuing representation that (i) all
transactions have the appropriate approval, waiving any defense of lack of
authority, (ii) there is no sovereign immunity (something is left out of
thelanguage) defense to any transaction, (iii) payment for the gas will be
first in the flow of funds, and (iv) the obligations are not subject to
debt
restrictions or other public funds restrictions of the Texas Constitution,
statutes or CPS constituency documents.  I think we can legally make these
representations and warranties, but the language needs some work.  You
should ask them to redraft this provision so it is simpler and clearer.
Jon

-----Original Message-----
From: Pfister, Christian W. [mailto:CWPfister@cps-satx.com]
Sent: Monday, October 23, 2000 2:16 PM
To: 'jwood@mattbran.com'
Subject: FW: Enfolio Contract with CPS

Mr. Wood,

This is a spot gas contract with Enron that you reviewed on August 8th for
Mary Pelayo and Danny McWhirter.  Enron has added a paragraph under
"Representations and Warranties" that I would like you to review.  I am not
sure exactly what it means.  Thank you.

-----Original Message-----
From: Yates, Katherine S.
Sent: Monday, October 23, 2000 1:52 PM
To: Pfister, Christian W.
Subject: RE: Enfolio Contract with CPS

Sounds like legal mumbo jumbo. I would advise getting John't input in case
he is more familiar with the reasoning behind this jargon.

Katherine S. Yates
CPS Attorney
353-2069

-----Original Message-----
From: Pfister, Christian W.
Sent: Monday, October 23, 2000 1:40 PM
To: Yates, Katherine S.
Subject: FW: Enfolio Contract with CPS

Kathy,

This spot gas contract was reviewed by Jon Wood a few months ago.  The
following was added under "Representations and Warranties" by Enron.  I
have
highlighted the text in the attachment so you can see where it was
incorporated (page 2 of Appendix 1).

"Further and with respect to Customer only, Customer represents and
warrants
to Company continuing throughout the term of this Agreement as follows:
(i)
all acts necessary to the valid execution and performance of this Agreement
have been duly adopted, (ii) with respect to the contractual obligations
hereunder and performance thereof, it is not entitled to itself or its
revenues or assets from (a) suit, (b) jurisdiction of court, (c) relief by
way of injunction, order for specific performance or recovery of property,
(d) attachment of assets or (e) execution or enforcement of any judgment,
(iii) its obligations to make payments hereunder are unsubordinated
obligations and such payments are operating and maintenance costs which
enjoy first priority of payment at all times under any and all indentures
to
which it is a party, its constitutional and governing documents and
applicable law, and (iv) its obligations to make payments hereunder do not
constitute any kind of indebtedness of Customer or create any kind of lien
on, or security interest in, any property or revenues of Customer which, in
either case , is proscribed by any provision of its constitutional and
governing documents, any order to judgment of any court or other agency of
government applicable to it or its assets, or any contractual restriction
binding on or affecting it or any of its assets."

Do you think this is acceptable, or do you think I should show this added
paragraph to Jon Wood?

-----Original Message-----
From: Dan.J.Hyvl@enron.com [mailto:Dan.J.Hyvl@enron.com]
Sent: Thursday, October 19, 2000 2:51 PM
To: Pfister, Christian W.; Mc Whirter, Daniel D.
Cc: James.I.Ducote@enron.com; Janet.H.Wallis@enron.com
Subject: Re: Enfolio Contract with CPS

(See attached file: CITYPublicServiceSanAntonio.doc)

Attached please find a revised Enfolio Contract with CPS.  The changes
      incorporated in the attached contract are:
1)  "City Public Service (San Antonio)" has been changed to "The City of
      San Antonio, acting through City Public Service Board".
2)  The effective date has been changed to "October 1, 2000.
3)  The changes requested in items 1 and 2 of the addendum have been
      incorporated.
4) The Utilization of Small Business Concerns language has been added as
      the last item in Appendix "1", and
5)  An additional representation has been added at the end of the
      Representations and Warranties in Appendix "1" relating to the
      necessary authorizations with respect to the execution, delivery and
      performance by Customer of  this Agreement.

If these changes are acceptable please advise and we will forward two
      original copies for execution.


Sally

Lets get together and figure out how we get our arms around what is left of the estate, as it relates to capture, reporting, VaR, credit etc.

DP

 -----Original Message-----
From: 	Wilson, Shona
Sent:	Wednesday, December 05, 2001 1:35 PM
To:	Aguilar, Darrell; Anderson, Patricia; Andrews, Naveen; Apollo, Beth; Beck, Sally; Belden, Tim; Apollo, Beth; Bowen Jr., Raymond; Bradford, William S.; Brooks, Loretta; Buy, Rick; Castleman, Kent; Causey, Richard; 'Chris Abel'; Cockrell, Rainier; Colwell, Wes; Curry, Wanda; Aguilar, Darrell; Day, Misti; Delainey, David W.; Dietrich, Janet; Fallon, Jim; Frevert, Mark; Gold, Joe; Gossett, Jeffrey C.; Green, Alisa; Haedicke, Mark E.; Hagelmann, Bjorn; Hall, D. Todd; Hanson, Kristen J.; Hardy, Trey; Hayden, Frank; Helton, Susan; Hickerson, Gary; Hillis, Kimberly; Hodges, Georgeanne; Kaminski, Vince J; Kass, Michael; Kathol, Sherri; Killen, Faith; Kitchen, Louise; Lavorato, John; Lay, Kenneth; Mayeux, Cassandra; Mcconnell, Mike; McKinney, Hal; McMahon, Jeffrey; Mills, Scott; Moscoso, Michael E.; Murphy, Ted; New, James; Piper, Greg; Port, David; Presto, Kevin M.; Schmidt, Darin; Schoppe, Tammie; Shankman, Jeffrey A.; Shepperd, Tammy R.; Sherriff, John; Talley, Darin; Thatcher, Stephen; Ueckert, Allen W.; Valdez, Veronica; Whalley, Greg; White, Stacey W.; Whiting, Greg; Stock, Steve; Hall, Bob M
Subject:	11/30 and 12/3 DPR - update as of 12/15/01

For the next few days, we will be reporting only positions, maturity gap, & VAR for the DPR.  We expect to be reporting P&L for ENA again probably by the middle of next week.

The 11/30 DPR is still listed on the ERV as preliminary, as there are still a couple small items outstanding.  The 12/3 and 12/4 DPRs should be out by tomorrow.  We are currently experiencing some IT issues related to position reporting which have prevented the reporting of these days.  I expect the issue to be resolved by the middle of the afternoon today and we will report shortly thereafter.

If you have any questions, please call me at 713 853 9123.

Thank you,

Shona Wilson

 -----Original Message-----
From: 	Wilson, Shona
Sent:	Tuesday, December 04, 2001 11:13 AM
To:	Abel, Chris; Aguilar, Darrell; Anderson, Patricia; Andrews, Naveen; Apollo, Beth; Beck, Sally; Belden, Tim; beth Apollo; Bowen Jr., Raymond; Bradford, William S.; Brooks, Loretta; Brown, Michael - COO London; Buy, Rick; Castleman, Kent; Causey, Richard; Chang, Hang; Chris Abel; Cockrell, Rainier; Colwell, Wes; Curry, Wanda; Darrell Aguilar; Day, Misti; Delainey, David W.; Dietrich, Janet; Dyson, Fernley; Fallon, Jim; Frevert, Mark; Gold, Joe; Gossett, Jeffrey C.; Green, Alisa; Haedicke, Mark E.; Hagelmann, Bjorn; Hall, D. Todd; Hanson, Kristen J.; Hardy, Trey; Hayden, Frank; Helton, Susan; Hickerson, Gary; Hillis, Kimberly; Hodges, Georgeanne; Jordan, Mike; Kaminski, Vince J; Kass, Michael; Kathol, Sherri; Khoja, Sayed; Killen, Faith; Kitchen, Louise; Lavorato, John; Lay, Kenneth; Martinez, David; Mayeux, Cassandra; Mcconnell, Mike; McKinney, Hal; McMahon, Jeffrey; Mills, Scott; Moscoso, Michael E.; Murphy, Ted; New, James; Piper, Greg; Port, David; Presto, Kevin M.; Schmidt, Darin; Schoppe, Tammie; Shankman, Jeffrey A.; Shepperd, Tammy R.; Sherriff, John; Talley, Darin; Thatcher, Stephen; Ueckert, Allen W.; Valdez, Veronica; Whalley, Greg; White, Stacey W.; Whiting, Greg
Subject:	11/30 and 12/3 DPR - update

With all of the events of yesterday, information for the DPR for the above dates is not yet complete.  At the present time, we are planning to issue a final DPR for the 30th of November as well as a preliminary and then final for the 3rd of December.  However, we do not yet have an estimated time for these to be issued.

I will keep you up to date when I have additional information.  If you have any questions, please call me at 713 853 9123.

Best regards

Shona Wilson
Director, Global Risk Operations
X39123


Attached is the front section of the 1999 Enron Annual Report.  Each of the
operating sections have been through a few rounds of edits at the operating
company level.  While you are seeing the Chairman's Letter for the first
time, it has also been through the PR and IR departments for general
direction and consistency with the operating sections.  Not included in this
file are the two page spreads that use a more graphic-oriented approach to
illustrate a particular highlight.  Those highlighted segments are:  Peaking
Plants, EnronOnline, Owens Corning, EBS, and Transwestern/Gallup.  We also
feature a two-column "callout" on the Phase II financing for Dabhol.  I will
send those items in layout form for the next round of edits.  Each of the
spreads have been through numerous operating company reviews.

 Please send me your comments on this copy by Friday, Feb. 11.


Jim, hold off until I let you know to go.

Thanks
dave


will do.  What's the pups name?

Alma Martinez@ENRON
12/27/2000 11:38 AM
To: Jeffrey A Shankman/HOU/ECT@ECT
cc:
Subject: Re:

I'm leaving at noon.  Can you bring the book tomorrow?


Which means you're getting those wonderful Friday afternoon "I have to have
it today" calls!

Kay C. Young
Legal Specialist
Enron North America Corp.
713-853-6794 Phone
713-646-3393 Fax
kay.young@enron.com

	Tana Jones
	03/30/2001 03:29 PM

		 To: Kay Young/HOU/ECT@ECT
		 cc:
		 Subject: Re: Star Supply

Thanks.  I seem to be keeping you busy today!

	Kay Young
	03/30/2001 03:27 PM

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

Nothing with or pertaining to Star Supply Petroleum Inc.

Kay C. Young
Legal Specialist
Enron North America Corp.
713-853-6794 Phone
713-646-3393 Fax
kay.young@enron.com

	Tana Jones
	03/30/2001 03:25 PM

		 To: Kay Young/HOU/ECT@ECT
		 cc:
		 Subject: Star Supply

How about this one?
----- Forwarded by Tana Jones/HOU/ECT on 03/30/2001 03:25 PM -----

	Daniel Diamond
	03/30/2001 03:04 PM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: Star Supply

Tana,
Please send a bilateral NDA (re: Broker Client) to:

Rob Rynveld
Star Supply Petroleum, Inc.
133 Engle Street
Englewood, NJ  07631
robr@starsupply.com

Thanks,

Dan


Hi Jason,

I had a fab time in Italy.  Food was marvellous and the view from out villa
was spectacular.  I'll show you the photos sometime!!!

Andrea


FYI:
Please be sure to review your products under Michigan Consolidated Gas
Company - 2166 and Mobil Oil Corporation Supply & Distribution - 94356 by
5:00 p.m. today.  These counterparties need to start trading a.s.a.p.  If you
have any questions, please call me @5-8491.  Thank you.


The price should be Inside Ferc Monthly Index....the deal has been changed in the system.

 -----Original Message-----
From: 	Staab, Theresa
Sent:	Wednesday, May 30, 2001 1:59 PM
To:	Reitmeyer, Jay; sscott5@enron.com
Subject:	Questar Deal #803604 - June

Can you guys verify this for Elizabeth?

Theresa
(303) 575-6485
----- Forwarded by Theresa Staab/Corp/Enron on 05/30/2001 12:58 PM -----

	Elizabeth L Hernandez/ENRON@enronXgate 05/24/2001 03:03 PM 	   To: Theresa Staab/Corp/Enron@ENRON  cc:   Subject:

Please verify price on deal 803604.  Customer sent the confirmation back showing the price to be Inside Ferc Monthly Index.