The  first  quarter of 2001 was a record quarter for the performance of the
businesses  under the Enron Global Markets group.  We posted a gross margin
number  of  $100  million  for  the  first  quarter.  This represents a 38%
increase in gross margin after a very successful Q1 of 2000.  When combined
with  outstanding  results  posted in December of 2000, EGM has contributed
over  $187  million  to the Wholesale group in the last 4 months.  This was
due to tremendous contributions from each business group.

In  order  to  keep  the  momentum going and to facilitate more growth, the
following changes and additions have been made within the organization.

Crude and Products group
Mid-marketing
Bill  Berkeland  has  joined  the  group  and is responsible for creating a
focused  mid-marketing  function  specifically  within  this  group.   Fred
Lagrasta  is  responsible  for  mid-marketing  for Enron Americas and still
maintains  some  responsibility for various contacts and deal flow as well.
The purpose of this group is to be very focused in the development of crude
and  product  specific  products and services.  This group reports to Randy
Maffett.

Origination
In  order  to  manage  the  increased  origination opportunities around the
world,  the  Origination group has been changed in order to insure that the
proper focus is placed on these opportunities and to manage its wide scope.
Doug  Friedman  will lead our NGL and Petchem origination efforts reporting
to  John  Nowlan.   Joining  Doug will be Rick Cantrell recently hired from
Union  Carbide.   The global crude and products origination group has added
Randy  O'Conner  from  Red  Meteor,  who  has extensive experience in these
markets.   Both Randy and Doug Leach's growing fuels origination group will
report to Randy Maffett.

Trading
Lee  Jackson  will  assume  the  role  of U.S. NGL's lead financial trader,
supported  by  Chad South.  The petchem and plastic trading businesses have
been  reorganized under Stuart Bland.  Alan Engberg will be responsible for
plastics trading in the Americas.

Shipping
Scott  Moncrieff  will assume responsibility of our global shipping network
related  to  crude  and products.  Scott will be charged with expanding all
aspects  of the shipping portfolio taking advantage of our growing presence
in these markets and the successes we have had marketing shipping on line.

Weather
The  weather  group  under Mark Tawney's direction is expanding its efforts
around the world.  Europe will have an expanded focus and the London office
will  focus  on  new opportunities in Europe.  Paul Murray has joined Enron
from  Castlebridge  Partners  and  will  be moving to London to develop and
expand  the  continental  opportunities.  Ross McIntyre, currently based in
London,  will report to Paul.  Bill Windle has joined the weather group and
has  responsibility  for  origination activities for North America.  Bill's
most  recent assignment has been in the EBS organization.  The Oslo weather
office  managed  by  Thor  Lien  will  have  responsibility for Scandinavia
weather  activities.   In  addition,  employees  are  being  added  in  the
Australia and Japan regions.  We are now making markets in 32 cities around
the world on EnronOnline.

Coal
Mark Schroeder has joined the coal group and is responsible for origination
activities  with  generators in the U.S.  Mark's most recent assignment was
as  the  head  of  all  regulatory  activities  for Enron Europe, Japan and
Australia.

Enron Japan
The  momentum  of  power  deregulation  process  has  slowed in Japan.  The
decision  has been made to scale back the wholesale power activities.   Joe
Hirl,  President  and  CEO  of  Enron  Japan,  will now report into the EGM
organization.   Joe  will  maintain his direct responsibility of the office
and  will be increasing his focus on the business lines within EGM.  All of
these  products  have  high growth potential in both the near and long-term
and  he  will coordinate and help implement with all the business lines and
their activities.

LNG
LNG  continues  to  expand  with  the  vision  to  increase  the  number of
transactions and create a portfolio of assets and contractual access around
the   world.    Jonathan  Whitehead  has  joined  the  LNG  group  and  has
responsibility for all trading and shipping activities.

Neal Gerstandt, previously an independent energy consultant,  Jared Kaiser,
from  Enron  Americas  - East Gas Desk, and Kurt Lindahl, from Enron Global
Assets, have also joined the LNG group with responsibilities in the area of
origination in the Western Region.

Enron Freight Markets
EFM  has  concluded over 2,000 transactions in its first two months.  Chris
Kravas  continues  to  focus  on  building  the spot trading and mid-market
capabilities  that  will enable it to be the dominant player in its market,
and has hired four new traders in the last two weeks.  Kellie Metcalf, from
EBS,   has  joined  Shawn  Cumberland's  origination  effort,  and  Deirdre
McCaffrey,  from  Gas  Structuring and Mid-Market, has joined Matt Arnold's
forward trading group focusing on diesel products.

Global Risk Markets
David Hoog joined Enron from Ace Insurance in December 2000 and has quickly
built  a  team of people specialized in trading unit contingent power price
call  options,  a  hybrid  insurance derivative product. Drawing on Ace and
Enron  resources,  this  team  is  based  in  New  York  and  includes Alex
Tartakovski  and  Larry Marcus from Ace, as well as Joana Bekerman and Tony
Chang  who recently moved to New York from Houston. Their first transaction
closed just 3 months after startup.

Brad  Blesie  will  be  moving  to  London  in  June to establish a base of
operation  for  GRM and expand our insurance derivative activities into the
European  market  place.  Among the opportunities he is currently exploring
are  contingent call options applied to shipping and charter rates, trading
insolvent  insurance  claims,  and combining North Sea oil and gas VPP risk
with decommissioning insurance.

In  April this year, EGM established a hedge fund origination effort in New
York  reporting  to  Per Sekse and led by Russell Dyk who recently moved to
New  York  from  LNG  in  Houston. Russell is responsible for expanding our
commodity  trading  relationship  with  hedge  funds  to include crude oil,
products,  liquids  and other commodities traded by EGM. Joining Russell in
this  effort is Stephen Plauche, who comes to us from Enron Americas' power
trading desk.

Financial Trading
Elsa   Piekielniak   has  assumed  responsibility  for  Enron's  developing
agriculture  business.   Billy  Lemmons has changed groups and now runs the
Analyst and Associate program for Enron Corp.

Please congratulate everyone on their new assignment and we look forward to
the continued growth in all the EGM businesses.


Start Date: 4/8/01; HourAhead hour: 22;  No ancillary schedules awarded.
Variances detected.
Variances detected in Energy Import/Export schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001040822.txt

---- Energy Import/Export Schedule ----
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 22 / Preferred:  12.00 / Final:  11.98)
  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 4/8/01
  TIE_POINT: PVERDE_5_DEVERS
  INTERCHG_ID: EPMI_CISO_BEAR
  ENGY_TYPE: WHEEL


Information Risk Management ) IT Security and Standards Notice

Passwords
The key to maintaining information and systems security is the use of
well-selected and guarded passwords.  Please remember, your password is our
first line of defense. It is important that:
? Your password should be unique and only known to you.
? Your password should never be shared with someone else.
? A password must never be written down (i.e. post-it notes), stored in files
on personal computers, at workstations, hidden under keyboards, configured on
terminal hot-keys, etc.
? Passwords must be changed every 60 days.

Strong password selection criteria will soon be automated for all employees.
For instructions on selecting a good password or to the view the company
password policy and standards, click here:
http://itcentral.enron.com/data/policiesandprocedures/ITPasswordScreenSaver

Please keep in mind that the Enron Conduct of Business Affairs holds
employees responsible for password security.  Information Risk Management
conducts periodic audits to ensure compliance with company policy.

For any problems encountered concerning password controls, please call your
appropriate Help Desk (available: 24Hrs./day, 7 days/week).


Mark - Project Margaux is the project that involves our project in Turkey.
Thought this DASH would be useful to you, and as it may bear on what you are
tyring to accomplish.  I am still awaiting answers to my questions about
regulatory approvals for asset sales/transfers in Turkey, and will provide
the info to you when I have it.   mcs
---------------------- Forwarded by Mark Schroeder/LON/ECT on 02/06/2000
14:47 ---------------------------
From: Padmesh Thuraisingham on 02/06/2000 13:49
To: Maroun J Abboudy/LON/ECT@ECT, Stuart Schardin/LON/ECT@ECT
cc: Olivier Herbelot/LON/ECT@ECT, Anne Edgley/LON/ECT@ECT, Stephen
Dwyer/LON/ECT@ECT, Buddy Aiken/LON/ECT@ECT, Mark Evans/LON/ECT@ECT, Steve W
Young/LON/ECT@ECT, David Gorte/HOU/ECT@ECT, Lloyd Fleming/LON/ECT@ECT, Mark
Schroeder/LON/ECT@ECT, Claire Wright/LON/ECT@ECT, John Chappell/LON/ECT@ECT,
Dale Surbey/LON/ECT@ECT, Tim Battaglia/LON/ECT@ECT, Jarek
Astramowicz/WAR/ECT@ECT, Riccardo Bortolotti/LON/ECT@ECT, Juan Carlos
Badillo/LON/ECT@ECT, Alvaro Camarero/LON/ECT@ECT, Brian
Stanley/EU/Enron@ENRON, Donette Dewar/HOU/ECT@ECT, Scott Sefton/HOU/ECT@ECT,
Nora Dobin/Corp/Enron@ENRON

Subject: Latest draft of Margaux DASH

Here is the latest draft of the DASH for the Margaux transaction. Please send
any comments you have to Olivier Herbelot.

Regards,

Paddy
(RAC underwriting, London)


Rick -- As discussed, here is a brief updated status of the Michigan regulatory status as it pertains to QFs in the state.  In the debates over PA 141 we won several key points pertaining to OFs and agreements with utilities.  As you also know, the retail market will open 1/1/02 and MPSC decisions are expected within the next two weeks or so.  I have not covered the retail market because the previous status did not focus on that market segment.  If I can be of further help, please let me know.


You may want to come to this meeting.  When we met with Bob Hall the other
dayon OA, I mentioned that you and I should probably be included in the
monthly meeting so that we would have an idea of any problems that were
occurring each month.  If you have something else going on, don't worry about
being there.  I'll relay the info to you.

D
---------------------- Forwarded by Daren J Farmer/HOU/ECT on 08/30/2000
12:51 PM ---------------------------

	Enron Capital Management

	From:  David Baumbach                           08/30/2000 07:47 AM

To: Delma Salazar/NA/Enron@Enron, Ami Chokshi/Corp/Enron@ENRON, Daren J
Farmer/HOU/ECT@ECT, O'Neal D Winfree/HOU/ECT@ECT
cc: Steve Jackson/HOU/ECT@ECT
Subject: OA Meeting

We will have our monthly OA review tomorrow at 10 am with Steve Jackson.  I
will let you know the conference room soon.

Dave


---------------------- Forwarded by Chris Germany/HOU/ECT on 12/21/2000 03:14
PM ---------------------------

Judy Townsend
12/21/2000 11:21 AM
To: Chris Germany/HOU/ECT@ECT
cc:
Subject: Ormet

---------------------- Forwarded by Judy Townsend/HOU/ECT on 12/21/2000 11:14
AM ---------------------------

Craig Breslau
12/19/2000 01:24 PM
To: Judy Townsend/HOU/ECT@ECT, Victoria Versen/HOU/ECT@ECT
cc: Lucy Ortiz/HOU/ECT@ECT
Subject: Ormet

Could you please send the service agreement into Koch for the Ormet
transaction.  This memo that I wrote to Scott details the rates that we have
negotiated with Koch.  Koch has to post our deal for five days, so could you
please try to send it out today if at all possible.  I am also sending you
the draft letter agreement that Koch sent to us which we will also need to
execute.  We will also need to put an IT agreement in place with Koch.  They
have offered the same discounted rates on an IT basis for any volumes above
the 15,000/d of FT.

Also, could you please arrange to put in place an IT agreement on Cypress for
delivery to Ormet Aluminum's Burnside,LA

Thanks for your help.

Craig
---------------------- Forwarded by Craig Breslau/HOU/ECT on 12/19/2000 12:35
PM ---------------------------

Craig Breslau
11/16/2000 04:37 PM
To: Scott Neal/HOU/ECT@ECT
cc:
Subject: Ormet

Scott:

Ormet's Burnside,LA Aluminum refinery is dually connected to Koch and Cypress.
The transport rates that  Koch has quoted for FT to Ormet are as follows:

From Bridgeline/Paradis or LRC/ Paradis .03 demand charge

from Venice     .05 demand charge

from the Mobile Bay pooling point on Koch .045 demand charge
(if we buy upstream of the pooling point then we would also pay a .0246
gathering fee on Mobile Bay)

In addition we will be charged .0022 ACA from any of these receipt points.

The fuel rate is 1.6%.  This will be passed on to Ormet.

Koch has agreed that any volumes in excess of the 15/d of FT will be at the
same discounted rate, but will flow on an IT basis.  If this IT is cut, we
still must use best efforts to transport from other receipt points on Koch or
on Cypress.  Ormet pays all additional transport costs.
Additionally, we have a price re-opener if Koch changes from monthly
balancing at any point during the contract term.
I am working with Koch to get secondary delivery points on Koch in the event
that the desk wants to take the gas elsewhere (i.e. if Ormet doesn't need the
gas or if you choose to deliver off of Cypress).  If you have any preferences
for alternate delivery points, please let me know.

As I mentioned, we  have already quoted NYMEX + .055 as the all-in delivered
price to Ormet.

Ormet would like to come to agreement on this transaction today (his wife is
due any day so he will be out of the office starting tomorrow).  They are one
hour ahead of us so your comments are greatly appreciated.

Thank you for all of your help on this deal.

Craig


Yuck.  I am eager to discuss this with you both.  DF

	From:  John Goodpasture                           09/01/2000 02:02 PM

To: Mike McGowan/ET&S/Enron@ENRON, Drew Fossum/ET&S/Enron@ENRON
cc:

Subject: HHI Calculations

---------------------- Forwarded by John Goodpasture/OTS/Enron on 09/01/2000
02:01 PM ---------------------------

Ann Ballard
08/30/2000 04:07 PM
To: John Goodpasture/OTS/Enron@ENRON
cc:

Subject: HHI Calculations

There is a discussion of HHI's in a FTC guideline called the 1992 Horizontal
Merger Guideline, which can be found on the FTC's website.  I have tried to
create a hotspot for you here www.ftc.gov.  The discussion of HHI's starts at
1.5.

HHI means Herfindahl - Hirschman Index.

Enjoy!


SENT ON BEHALF OF DAREN FARMER:

Please plan to attend a meeting tomorrow from 2:00 - 3:00 m in Conference
Room 3084 regarding King Ranch.

If you have any questions, please call.

Thank you!
Yvette
x3.5953


Start Date: 1/16/02; HourAhead hour: 14;  HourAhead schedule download failed. Manual intervention required.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002011614.txt
Error: dbCaps97Data: Cannot perform this operation on a closed database
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!!!Unknown database.
Alias: dbCaps97Data
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Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
Error: dbCaps97Data: Cannot perform this operation on a closed database


You will need to talk to Miguel Vasquez.  He is the one who may have the
model.
Thanks
Ben


---------------------- Forwarded by Mary Hain/HOU/ECT on 01/08/2001 01:39 PM
---------------------------

Lester Rawson
01/08/2001 10:47 AM
To: Greg Wolfe/HOU/ECT@ECT, Sean Crandall/PDX/ECT@ECT, Diana
Scholtes/HOU/ECT@ECT, Tom Alonso/PDX/ECT@ECT, Mark Fischer/PDX/ECT@ECT, Matt
Motley/PDX/ECT@ECT, Mike Swerzbin/HOU/ECT@ECT, Michael M
Driscoll/PDX/ECT@ECT, Bill Williams III/PDX/ECT@ECT
cc: Mary Hain/HOU/ECT@ECT
Subject: Losses using PacifiCorp Transmission

Brian McCellan from PacifiCorp Transmission called this morning to let me
know that as of 1/1/2001 that Pac has begun charging for losses for
transmission schedules using Non-Firm and Short Term transmission service.
The losses will be .045 percent of the schedule. Pac offers the option of
either settling losses financially or physically.

The consensus is that Enron will settle losses financially using a index
price, that Pac will supply, based on the Mid-Columbia, COB,4C and PV
indexes.

Currently Mary Hain has the official declaration form showing Enron is
selecting financial settlements vs. physical. Until Mary returns and has the
declaration executed I have notified Brain that Enron will settle losses
financially.

Regards,

Les Rawson


The UBSW Energy on-line products should be limited to the locations below through 2003 only.   Off-Peak markets will be only in NY, PJM, NEPOOL, and ERCOT.

*	NEPOOL PTF
*	NY Zone J (FP and Basis)
*	NY Zone G
*	NY Zone A
*	Ontario (FP and Basis)
*	PJM East Hub (FP and Basis)
*	PJM West Hub
*	PJM West (Basis)
*	Cinergy
*	Com-Ed (FP and Basis)
*	TVA (FP and Basis)
*	Entergy (FP and Basis)
*	SOCO
*	ERCOT South (FP)
*	ERCOT North (Basis)

Casey - Please see above the markets that will be Fixed Price (1-30 day market) and Basis/Spread (forwards).

Kevin Meredith

EnronOnline
(713) 853-9555


EOL #  630290   EOL#  630277
Seller  Reliant Energy Services  Seller  Reliant Energy Services
Buyer  ENA     Buyer   ENA
Volume  5,000     Volume  5,000
Price  $2.05     Price  2.10
Delivery Pt NGI Socal    Delivery Pt NGI-Socal
Period of Del 4-01-2001 thru 10-31-2001  Period of Del 4-01-2001 thru
10-31-2001

Tana, here is the information on the two EOL trades Phillip Allen transacted
on Tuesday, Nov. 28.
Let me know if you have need any further information.

Dawn
3-9353


OUTLOOK EMAIL NOTIFICATION

Your Date of Migration is: April 26th

YOU WILL BE UNABLE TO SEND E-MAIL unless you take the following action:
Please go through your Notes email and clean out as many old/un-needed email
items as possible BEFORE your date of migration.? After you are migrated to
Outlook you will only be allocated 100MB of total Mailbox space.?? If more
than this amount of data is migrated to Outlook YOU WILL NOT BE ABLE TO SEND
E-MAIL until it is below the 100MB limit.? Cleaning up your Notes email now
will prevent this from happening to YOU.

Enron,s messaging platform is migrating from Lotus Notes to Microsoft Outlook
2000 worldwide.  You will be accessing Outlook for all of your email
functions.

WHY IS ENRON MIGRATING TO OUTLOOK 2000?

Many factors contributed to the decision to migrate from Lotus Notes to
Microsoft Exchange/Outlook.  The most prominent factors were:

? Significant advantages to moving to a product that is more integrated with
current Enron apps (Windows 2000, Office and Internet Explorer)
? More efficient Shared PC and Roaming User features
? Improved support and integration for Palm/CE devices
? Instant Messaging capabilities

WHAT IS BEING MIGRATED TO OUTLOOK 2000?

? Email Messages.  From the date of your scheduled migration, the last (30)
thirty days of your Email will be converted for use in Outlook.
? All your folders in Notes you use to store email messages in.
? To Do Items
? Journal Items
? Calendar Entries dating from (1) one year in the past to (10) ten years in
the future will be converted.
? Address Books, but NOT your Distribution Lists that you created.  You will
need to re-create these in Outlook.

Thank you,

Outlook 2000 Migration Team


Randy, this is the issue I left you the voice mail on.  Article 6 of the
Gallup Compression Services Agreement (which I am sending to you separately)
with ECS obligates ECS to "work in good faith with CDEC" to establish an
automated system that would automatically have alerted us to peak loading
conditions on CDEC's system.  We had a pretty good idea when we signed the
contract that ECS would not be able to complete that by the contract start
date, so we negotiated a fall back plan under which ECS is obligated to
"assist [Transwestern] in developing a manual system to accomplish the same
result and will hold harmless and keep [Transwestern] whole for all cost and
expenses" associated with the manual system.  We will fight with them about
who owes the $200k that James mentions below based on their failure to
"assist" us in managing the cost.  In the mean time, we need to make sure
that we are doing everything we can to get a handle on the situation to
mitigate future costs.  Do we have someone who is watching this out there?
We are running so full tilt on TW that we may not have as much flexibiltiy to
manage this situation as we expected, but let me know what we can do.  James
had heard that one hold up was the absence of a confidentiality agreement--I
guess between ECS and Transwestern--that would permit ECS to communicate to
us the details on how to access teh key info. from CDEC.  That sounds like a
BS excuse from ECS, but it that's what they are saying, let me know and we
can figure out a solution.  Thanks.  DF

James Centilli
12/14/2000 02:49 PM
To: Susan Scott/ET&S/Enron@ENRON
cc: Steven Harris/ET&S/Enron@ENRON, Drew Fossum/ET&S/Enron@ENRON, Rod
Hayslett/FGT/Enron@ENRON, Dan Fancler/ET&S/Enron@ENRON, Randy
Rice/OTS/Enron@ENRON

Subject: Gallup Rebate

Would you please contact Gerald Nemec and review the Gallup Compression
Service Contract in respect to the Load Control Management.  My understanding
was that ECS was to provide a means to access CDEC's online profile in order
for us to make a decision to avoid running the compressor during CDEC's peak
load periods.  We have not received access to this information which has
resulted so far in additional electric cost of $200,987.33 for the period of
July through September.  Additional cost will be incurred for the remainder
of this year, that I have not been able to review yet.  This cost is
averaging $79,000 per month if we continue to run the compressor as we have
in August and September.


---------------------- Forwarded by Richard Shapiro/NA/Enron on 01/03/2001
03:38 PM ---------------------------

	From:  Ann M Schmidt                           01/03/2001 03:31 PM

To: Karen Denne/Corp/Enron@ENRON, Vance Meyer/NA/Enron@ENRON, Meredith
Philipp/Corp/Enron@ENRON, Steven J Kean/NA/Enron@Enron, Eric
Thode/Corp/Enron@ENRON, James D Steffes/NA/Enron@Enron, Richard
Shapiro/NA/Enron@Enron, Damon Harvey/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Gia
Maisashvili/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, John
Neslage/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:

Subject: USA Today Opinion - Electricity Prices

http://www.usatoday.com/news/comment/debate.htm

	01/03/01- Updated 02:37 AM ET

		?
		Prices spike as Calif. bungles deregulation
		When Californians bought into the idea of deregulated electricity in 1996,
they did so on the promise they'd get reliable power at cheap prices.
Instead, they're facing power shortages and whopping bills.
		The state's public utilities commission is scheduled to decide Thursday
whether to let two big utilities raise rates by up to 30%, ending a price
freeze that was supposed to last until 2002. Financially strapped utilities,
meanwhile, are threatening blackouts.
		With electricity deregulation underway in 23 other states, households
nationwide should be wondering whether they'll be next to face
California-style chaos. It is a red flag that electricity deregulation, which
continues to hold promise for lower rates, must be approached cautiously and
gradually.
		California made a series of remarkably large blunders, many encouraged by
utilities, that set the state on a dangerous path to deregulation without the
competition needed to hold down prices. Unless the state corrects those
errors, matters will get worse when full deregulation comes in two years.
Much of the state could be served by power monopolies free to hike prices.
		The good news is that other deregulating states have planned better, though
the process in those states is less advanced than in California.
		Among California's failings:
		Utilities were barred from raising rates to consumers but had to cope with
market prices from power plants. When deregulation began, the utilities
heartily backed the arrangement, because the frozen prices were far higher
than the market prices they paid. Now, with a national energy shortage
pushing prices higher, they're worried about bankruptcy, threatening
blackouts and pleading for relief. Some seek re-regulation to protect
themselves from their own ineptitude.
		The state failed to bring enough new supply online before deregulating. No
major plants were built in the previous decade, contributing to a supply
crunch in a state where electricity demand has been growing 4%-6% per year.
By contrast, Texas, which is rolling out its deregulation more slowly, has
since 1996 built 23 new plants that have added 15% more power-generation.
		California tried to manipulate prices and blew it. The state required
utilities to buy all of their power from a "power exchange" in short-term
blocks. This prevented utilities from entering long-term contracts or
adopting hedging strategies that could keep prices stable. After prices
spiked, the government worsened the situation by trying to cap prices
utilities could pay for power. Not surprisingly, power suppliers then sold
their electricity to other states without price caps, where they could get a
better return. Result: power shortages rectified only by an emergency federal
order that some out-of-state plants in the West sell California electricity.
Price controls were lifted.
		Other states have avoided this problem. New York, for instance, encouraged
its utilities to enter into "transition contracts" under which plants have an
obligation to sell them power. Similarly, Texas has long-term contracts,
under which the utilities buy power for long periods at set prices, allowing
them to hedge against short-term changes in price.
		The price of all this bungling will be huge for Californians, but households
outside California may pay as well. The Western plants that the federal
government has forced to supply California's thirst could in time have
difficulty supplying their traditional customers, driving up their prices. In
the extreme, the financial instability of California utilities Pacific Gas
and Electric and Southern California Edison could roil markets and add to
recession pressures.
		At a minimum, most Californians will soon face significant financial pain *
unwarranted on their part * to pay for the botched deregulation either
through taxes or higher rates. If this bailout isn't accompanied by new
rules, the 2002 ending of price caps may bring the worst of all worlds:
monopoly markets without price controls.
		Long term, the best hope for controlling prices is competition, but
California has yet to come up with a convincing plan to make sure that
exists. In fact, in the San Diego area, where controls were briefly lifted
without significant new competition, prices more than doubled.
		Some advocacy groups and politicians are calling for more radical solutions,
such as a state buyout of the utilities or simple refusal to pay the
utilities on the grounds they must be hiding money somewhere. The utilities,
having tasted their own medicine, now say they'd support re-regulation.
		But none of these fixes would save California's consumers from the dim-bulb
management that has put the state at risk of power outages and financial
catastrophe.
		California Gov. Gray Davis' said recently that "if deregulation fails in
California, it is dead in America." To the contrary, as California does its
repair work, the rest of the county will be taking notes on how not to
deregulate as carelessly as California did.

			?

			?
			?
			?
			?

	01/03/01- Updated 02:38 AM ET

		?
		Learn from California mistake
		By Harvey Rosenfield and Douglas Heller
		The myth of electricity deregulation has met reality in California, and the
result is a $40 billion debacle.
		Awash in energy-industry campaign contributions, California lawmakers freed
the state's utility companies of price controls in 1996. Consumers were
ordered to pay off the utilities' debts, after which competition was supposed
to kick in, guaranteeing a 20% rate cut by 2002.
		Deregulation proved a bonanza for the utilities. They sold some of their
power plants and collected $19 billion in ratepayer subsidies. They used the
money to purchase plants in other countries, reward their executives with
huge pay raises, buy back stock and increase dividends. Profits reached
record levels this year.
		Envious, the handful of unregulated companies that control nearly half of the
state's electricity generation decided to cash in, too. This cartel began to
withhold power, causing shortages that boosted the wholesale price of
electricity that utility companies must buy by 3,900%. But, ironically,
because of the way they wrote the deregulation law, the utilities are
forbidden to pass the higher costs on to most consumers until 2002.
		Now the companies want to rewrite the law. When public officials resisted the
utilities' demands for immediate rate hikes, the utilities threatened
blackouts and bankruptcy. When that economic extortion failed, Wall Street
issued an ultimatum: Order a 20% rate hike within 48 hours, as a first
installment of an $11 billion ratepayer bailout, or Wall Street would itself
force the utilities into bankruptcy.
		California has learned the hard way that electricity is too vital to be left
in the hands of unregulated corporations whose sole interest is maximizing
profits. Facing a ratepayer revolt, state officials have re-imposed
regulation. To make electricity reliable and affordable once more, they are
considering establishing a non-profit, publicly owned power system for the
state. But, in the meantime, the deregulation disaster could end up costing
each Californian $12,500.
		Meanwhile, elsewhere in the nation, corporate-funded ideologues and academics
continue to promote electricity deregulation, much as they promoted loosening
controls on savings and loans in the 1980s.
		Whenever you hear the word "deregulation," hold onto your wallets: Some
industry is about to pick your pocket.
		Harvey Rosenfield and Douglas Heller are consumer advocates with the
Foundation for Taxpayer and Consumer Rights. Its Web site:
www.consumerwatchdog.org.


---------------------- Forwarded by Mike Carson/Corp/Enron on 10/17/2000
11:11 AM ---------------------------

	From:  John Zufferli @ ECT                           10/16/2000 10:05 PM

Sent by: John Zufferli@ECT
To: Jim Fallon/Enron Communications@Enron Communications, Kevin M
Presto/HOU/ECT@ECT, John J Lavorato/Corp/Enron@Enron, Robert
Benson/Corp/Enron@ENRON, Mike Carson/Corp/Enron@Enron, Mark Dana
Davis/HOU/ECT@ECT, Rogers Herndon/HOU/ECT@ect, Kyle Schultz/HOU/ECT@ECT, John
D Suarez/HOU/ECT@ECT, Paul J Broderick/HOU/ECT@ECT, Lucy Marshall/Enron
Communications@Enron Communications, Tamara Jae Black/HOU/ECT@ECT, Doug
Gilbert-Smith/Corp/Enron@ENRON, Terri Clynes/HOU/ECT@ECT, Matt
Lorenz/HOU/ECT@ECT, Larry Valderrama/HOU/ECT@ECT, Jeff King/Corp/Enron@Enron
cc: Jessica Zufferli/HOU/EES@EES

Subject: Farewell Party

Jessica and I are having a farewell party.  We hope that we get to see you
before we move to Canada.  Please attend a get together at our house on
Saturday November 4 at 7:00 for fajitas and drinks.  The address is:
        4915 Kelvin Dr
        Houston, TX

The closest major intersection is Kirby and Sunset.  We are located 1 street
south of Sunset and 1 street east of Kirby.

Please RSVP with the number of attendees to Jessica Zufferli at work via
e-mail or at X31915.

Looking forward to seeing you.


Curly, I was copied on Ronnie Chan's note to you re: ICBC.  What are we
working on with them?  Please advise.

Jeff


---------------------- Forwarded by John J Lavorato/Corp/Enron on 09/28/2000
10:48 AM ---------------------------

Mark Frevert
09/28/2000 04:02 AM
To: John J Lavorato/Corp/Enron@Enron
cc:

Subject:

F.Y.I.   I'm not sure what this is referrring to-  sounds like Detroit
Edison. Regards . Mark
.---------------------- Forwarded by Mark Frevert/NA/Enron on 09/28/2000
03:54 AM ---------------------------

Office of the Chairman on 09/27/2000 01:48:55 PM
To: Mark Frevert/NA/Enron@Enron
cc:

Subject:

---------------------- Forwarded by Office of the Chairman/Corp/Enron on
09/27/2000 01:47 PM ---------------------------

Jan Van Derziel@ENRON COMMUNICATIONS
09/16/2000 11:29 AM
To: Office of the Chairman/Corp/Enron@ENRON
cc:

Subject:

I just wondered if Enron was aware? Reported in the news that Detroit is
looking for someone to purchase the power plant and supply Detroit with
electricity.


Gerald,

Attached is a copy of the NWPL facilities agreement.  This will be coupled
with an OBA between NWPL and Crescendo Energy.   As we discussed, please
take a look at it.
Thx
Ken Krisa

 - Crescendo_FA.doc


Please respond to Attached, please find SB 78 (Polanco) which is the Governor's new and
improved MOU.  This should be referred to Senate Energy today and heard as
soon as ??

http://info.sen.ca.gov/pub/bill/sen/sb_0051-0100/sbx2_78_bill_20010716_amend
ed_sen.pdf


Mr. Davis:
 Thanks you for your reply.  I will call your attorney.  Enclosed is the
guaranty amendment letter.

Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com

	"Davis, Michael" <MDavis@wpsenergy.com>
	07/10/2000 09:08 AM

		 To: "'Carol St Clair'" <Carol.St.Clair@enron.com>
		 cc:
		 Subject: RE: ISDA Comments

Ms. St Clair:

Questions reference the comments to the ISDA draft should be directed to
Edward Hammond at 414-297-5619.  Ed is the attorney reviewing the ISDA
draft.

Please email your Guaranty amendment to me again and I will forward to our
attorney for review.  As I will be on vacation from Friday, July 14 through
Wednesday, July 19, I would like to resolve at least the Guaranty amendment
prior to my departure.

> -----Original Message-----
> From: Carol St Clair [SMTP:Carol.St.Clair@enron.com]
> Sent: Friday, July 07, 2000 11:49 AM
> To: mdavis@wpsenergy.com
> Cc: Russell Diamond; Susan Bailey; Samantha Boyd
> Subject: ISDA Comments
>
>
>
> Mr. Davis:
> Susan Flynn passed on to me your comments to the ISDA draft.  Please call
> me
> when you are ready to discuss.  With respect to the Guaranty amendment
> that we
> had requested, it is just meant to clarify in the termination section that
> if
> the Guaranty is terminated then the Guarantor is still responsible for all
> of
> the Counterparty's obligations with respect to any transactions that were
> entered into prior to the termination date, even if such obligations are
> incurred after the termination date.  I do not feel that the termination
> language, as currently written in both the WPS and Enron Guarantys clearly
> reflects this concept as the language as currently written states that the
> Guaranty "is revocable only with respect to liabilities occurring on or
> after
> the termination date."    I look forward to hearing from you.
>
> Carol St. Clair
> EB 3892
> 713-853-3989 (Phone)
> 713-646-3393 (Fax)
> carol.st.clair@enron.com
>


Hi Mitch,

Here's a darft of the revised letter.  Please let me know what you think.

Kay


9:30 ok?
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)


OK by me.

From: John J Lavorato/ENRON@enronXgate@enronXgate on 04/30/2001 11:30 AM
Sent by: Kimberly Hillis/ENRON@enronXgate
To: Wade Cline/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Joannie
Williamson/Corp/Enron@ENRON, Cliff Baxter/ENRON@enronXgate, James A
Hughes/ENRON@enronXgate, Steven J Kean/NA/Enron@Enron, Mike
McConnell/HOU/ECT@ECT, Rebecca McDonald/ENRON@enronXgate, Mark
Metts/Enron@EnronXGate, Stephanie Harris/ENRON@enronXgate, Maureen
McVicker/NA/Enron@Enron, Loretta Brelsford/ENRON@enronXgate, Dolores
Fisher/Enron@EnronXGate, Sherri Sera/Corp/Enron@ENRON, Jana L
Paxton/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Connie
Blackwood/ENRON@enronXgate, Mrudula
Gadade/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Cliff Baxter/ENRON@enronXgate,
Mark Frevert/ENRON@enronXgate, Nicki Daw/ENRON@enronXgate, Lucy
Marshall/Enron Communications@Enron Communications, Kathy
McMahon/NA/Enron@Enron, Jeremy Blachman/HOU/EES@EES, Philippe A
Bibi/ENRON@enronXgate, Raymond Bowen/ENRON@enronXgate, Michael R
Brown/LON/ECT@ECT, Harold G Buchanan/HOU/EES@EES, Rick Buy/ENRON@enronXgate,
Richard Causey/Corp/Enron@ENRON, David Cox/Enron Communications@Enron
Communications, David W Delainey/HOU/EES@EES, James Derrick/ENRON@enronXgate,
Steve Elliott/Enron Communications@Enron Communications, Andrew S
Fastow/ENRON@enronXgate, Ben Glisan/HOU/ECT@ECT, Kevin Hannon/Enron
Communications@Enron Communications, Rod Hayslett/ENRON@enronXgate, Stanley
Horton/Corp/Enron@Enron, Louise Kitchen/HOU/ECT@ECT, Mark
Koenig/Corp/Enron@ENRON, Kenneth Lay/Corp/Enron@ENRON, Dan Leff/HOU/EES@EES,
Danny McCarty/ET&S/Enron@Enron, Jeffrey McMahon/ENRON@enronXgate, Mark S
Muller/HOU/EES@EES, Cindy Olson/Corp/Enron@ENRON, Lou L Pai/HOU/EES@EES, Ken
Rice/Enron Communications@Enron Communications, Matthew
Scrimshaw/LON/ECT@ECT, Jeffrey A Shankman/ENRON@enronXgate, Jeffrey
Sherrick/ENRON@enronXgate, John Sherriff/LON/ECT@ECT, Jeff
Skilling/Corp/Enron@ENRON, Marty Sunde/HOU/EES@EES, Greg Whalley/HOU/ECT@ECT,
Thomas E White/HOU/EES@EES, G G Garcia/ENRON@enronXgate, Susan
Skarness/ENRON@enronXgate, Karen K Heathman/ENRON@enronXgate, Sharron
Westbrook/Corp/Enron@ENRON, Kay Chapman/HOU/EES@EES, Bridget
Maronge/ENRON@enronXgate, Inez Dauterive/HOU/ECT@ECT, Carol Ann Brown/Enron
Communications@Enron Communications, Cindy Stark/Corp/Enron@ENRON, Rosalee
Fleming/Corp/Enron@ENRON, Tori L Wells/HOU/ECT@ECT, Cathy
Phillips/HOU/ECT@ECT, Sue Ford/ENRON@enronXgate, Karen Owens/HOU/EES@EES,
Dorothy Dalton/Enron Communications@Enron Communications, Mercedes
Estrada/Enron Communications@Enron Communications, Christina
Grow/ENRON@enronXgate, Lauren Urquhart/LON/ECT@ECT, Laura
Taylor/ENRON@enronxgate, Judy G Smith/HOU/EES@EES, Suzanne
Danz/Corp/Enron@ENRON, Peggy McCurley/ENRON@enronXgate, Marsha
Schiller/ENRON@enronXgate, Tammie Schoppe/HOU/ECT@ECT, Kimberly
Hillis/ENRON@enronXgate, Jennifer Burns/ENRON@enronXgate, Sharon
Dick/HOU/EES@EES, Beverly Aden/HOU/EES@EES, Kathy Dodgen/HOU/EES@EES, Leah
Rijo/Enron Communications@Enron Communications, Kathy
Campos/ENRON@enronXgate, Julie Armstrong/Corp/Enron@ENRON, Kelly
Johnson/Corp/Enron@ENRON, Rebecca Carter/Corp/Enron@ENRON
cc:

Subject: VP Candidate Greg Shea

I would like to pursue an offer to Mr. Shea prior to the next Executive
Committee meeting on May 7, 2001.  Please forward your comments or questions
by Tuesday, May 1, 2001 so that I can extend the offer by Wednesday, May 2,
2001.

You will find attached the recommendation letter and his resume.

Regards,

John Lavorato

Tammie Schoppe on behalf of John Lavorato.


cris carter and r smith for ricky and warrick

Peter F Keavey
09/01/2000 11:24 AM
To: Eric Bass/HOU/ECT@ECT
cc:
Subject: Re: Ricky

Rickey is always available for the right price

i would need a starting WR for him though as part of the package


-----Original Message-----
From: Wesner-Soong, Sarah
Sent: Friday, November 30, 2001 4:07 PM
To: Deffner, Joseph
Subject: FW: DEMAND FOR MARGIN

-----Original Message-----
From: Gosnell, Gerri
Sent: Friday, November 30, 2001 3:55 PM
To: Bowen Jr., Raymond
Cc: Warwick, Todd; Wesner-Soong, Sarah; Reeves, Leslie
Subject: FW: DEMAND FOR MARGIN

FYI.....please read the attached letter from EDF Man.

Thanks!
gg

-----Original Message-----
From: anthonyd@manfinancial.com
Sent: Fri 11/30/2001 12:46 PM
To: Gosnell, Gerri
Cc: dearley@manfinancial.com; ipolk@mangroupplc.com; jzamora@manfinancial.com
Subject: DEMAND FOR MARGIN


Tory-

Sorry for being late.  I did call on Friday and left a message with Jaynie
(?) or Jamie (?).  As I told her, we would like nominate 7,000MMBtu per day
for the month of November 2000.  Losses on the PG & E line are unchanged
from October 2000 at  2.88%.

If you have any questions, please contact me.

Thanks.

-Steve


Squeeze in some golf or bet on the horns -  I sure we can find some "other"
activities to keep you, I mean us, out of trouble.
Ben


sorry about the attachmet

----- Forwarded by Sara Shackleton/HOU/ECT on 10/04/2000 08:05 AM -----

	Brent Vasconcellos@ENRON
	10/03/2000 07:13 PM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: Re: Raptor 2 hedge

Sara:

I'm not sure if maybe another version of the confirmation was inadvertently
attached, but the attached version that I received is unchanged from the
earlier version that was circulated on 9/27. Thanks.

Brent

From: Sara Shackleton@ECT on 10/03/2000 06:51 PM
To: Donette Dewar/HOU/ECT@ECT, Brent Vasconcellos/Corp/Enron@ENRON
cc:

Subject: Raptor 2 hedge

Sorry, I missed your names on the original message.  SS
----- Forwarded by Sara Shackleton/HOU/ECT on 10/03/2000 06:50 PM -----

	Sara Shackleton
	10/03/2000 06:44 PM

		 To: Scott Sefton/HOU/ECT, Ryan Siurek/Corp/Enron, Gordon McKillop/NA/Enron,
AnnMarie Tiller/Corp/Enron, Randy Young/NA/Enron, Gregory Adams/Corp/Enron,
Bob Butts/GPGFIN/Enron, Frank Stabler/ENRON_DEVELOPMENT,
mspradling@velaw.com, jdilg@velaw.com
		 cc: Mark Taylor/HOU/ECT@ECT
		 Subject: Raptor 2 hedge

Attached is a revision to the original swap confirmation.  I have tried to
incorporate all of the concepts discussed yesterday.  Please send comments or
call (X35620).  I will be out of town after noon on Thursday for an offsite.
Sara


I hope that the two of you received a copy of this. Although Jennifer;s
message doesn't mention it, I assume also that she reviewed the findings with
you.
---------------------- Forwarded by Sally Beck/HOU/ECT on 12/27/99 11:28 AM
---------------------------

Jennifer Stevenson@ENRON
12/20/99 09:31 AM
To: Sally Beck/HOU/ECT@ECT, Wanda Curry/HOU/ECT@ECT, Ted Murphy/HOU/ECT@ECT
cc: James J Brown/AA/Corp/Enron@Enron, Thomas Bauer/AA/Corp/Enron@Enron, John
Sorrells/AA/Corp/Enron@Enron
Subject: East Power Review resutls

Attached are the results of our East Power review.  Although some of the
identified areas for improvement are outside the responsibility of East
Power, we wanted to bring these items to the attention of management for
their consideration.

There is no planned Monthly Audit Meeting to discuss this report as we have
done in the past; therefore, if you have any questions or comments and would
like to set up a meeting with either of us, please feel free to contact us.

Thank you


Kay and Reagan,

I've gone through the MDEA contract and have some comments.  Do you  want to
get together tomorrow and go over the contract and hear how Reagan's meeting
went?

Let me know.

Heather


Attached please find the talking points on DPC to support your efforts in
Washington, D.C.


Nick,

The airport is about 30 minutes  by cab from the office (1400 Smith).
The best hotel is either Hyatt Regency Downtown or Doubletree
Downtown (it is important to emphasize Downtown when making
reservations). The hotels are within a walking distance
from  the Enron building.

We can make reservations  for dinner around 6:30 - 7:00
in a resturant  within 10 minutes by car from the hotel.

By the way, we shall be very glad to reimburse you for the trip related
expenses.

Vince

Nick Bambos <bambos@stanford.edu> on 05/11/2000 05:31:53 PM
To: Vince.J.Kaminski@enron.com
cc: Stinson.Gibner@enron.com
Subject: Re: Visit to Enron

Vince,

Yes, that would be ideal. But let me call first my travel agent to
see if there is a flight that would satisfy all the other
constraints. What time should I be at Enron on Thursday, and how far is
the airport from your offices?

Thanks,

Nick

Vince.J.Kaminski@enron.com wrote:
>
> Nick,
>
> Can you come to Houston Thursday night and meet me, Stinson and
> Kevin Hannon (one of top 3 executives at Enron Broadband Services)
> for dinner?
>
> Vince
>
> Nick Bambos <bambos@stanford.edu> on 05/10/2000 10:49:46 AM
>
> To:   Vince.J.Kaminski@enron.com
> cc:   Stinson.Gibner@enron.com
> Subject:  Re: Visit to Enron
>
> Vince,
>
> Many thanks for arranging that. Yes, Friday 05/26/00 is good.
> I'm blocking off in my calendar May 26 for the visit.
>
> Again, many thanks. I look forward to seeing you and Stinson
> in two weeks.
>
> Nick
>
> Vince.J.Kaminski@enron.com wrote:
> >
> > Nick,
> >
> > Thanks for your message. The best date for a visit to Enron
> > would be Friday, May the 26th. Please, let me know if this date would
> work
> > for you.
> >
> > Vince
> >
> > Nick Bambos <bambos@stanford.edu> on 05/01/2000 04:26:30 AM
> >
> > To:   Vince.J.Kaminski@enron.com
> > cc:
> > Subject:  Re: Visit to Enron
> >
> > Vince,
> >
> > How are you? Hope all is well.
> >
> > Is there any chance we can schedule my visit to Enron on Friday, May 19,
> > or Friday, May 26?
> >
> > By the end of April I was able to attract a top new student to work on
> the
> > project.
> > The other one for the coming year will be Giuseppe. By spending the
> summer
> > at Enron, he will be in a position to bring the new one up to speed and
> > create an intellectual team here at Stanford to look at these problems.
> >
> > I must move ahead soon to put the project in place and get the work
> going.
> >
> > Talk to you soon,
> >
> > Nick
> >
> > Vince.J.Kaminski@enron.com wrote:
> > >
> > > Nick,
> > >
> > > We can close the loop on our commitment to support the research
> projects
> > > before your visit to Enron.
> > >
> > > My assistant, Shirley  Crenshaw, will call you to set up a conference
> > call
> > > with me, Stinson Gibner,
> > > and Tom Gros from Enron Broadband Services to discuss all the isssues.
> > > Friday this week would work for
> > > both Tom and me. I think we need about 15 minutes.
> > >
> > > Vince
> > >
> > > P.S. Shirley, Nick's phone number is 650 796 8163 (cell), 650-725-5525
> > > (office).
> > >
> > > Nick Bambos <bambos@stanford.edu> on 03/12/2000 05:32:35 PM
> > >
> > > To:   Vince.J.Kaminski@enron.com, bambos@stanford.Stanford.EDU
> > > cc:
> > > Subject:  Visit to Enron
> > >
> > > Hello Vince,
> > >
> > > It was nice seeing you at Stanford and many thanks for the lunch
> > > we had together. I really enjoyed our discussions, both at the
> > > technical level and otherwise.
> > >
> > > I promised to send you an e-mail regarding possible dates for
> > > a visit to Enron. I delayed it for a week till my schedule was
> > > clearer. Let's see if we can get a match with your schedule -
> > > mine is rather terrible:
> > >
> > > Friday, 21st of April looks good. But April 23rd is Easter
> > > Sunday, so that may make it difficult for some people at Enron
> > > to be around. Let me know if that is the case. I am willing to
> > > visit then, because the week after that I am scheduled to be in
> > > Japan and in the previous weeks I am all committed on Fridays.
> > >
> > > Friday, 19th of May is the next possibility, but this probably
> > > is too far out. The main problem is that I am operating within
> > > a window of opportunity for attracting top students for this
> > > research. This window closes by the end of April, and it would be
> > > important for the student support funds to be in place then, so
> > > that I can make hard commitments to students and attract top
> > > talent. I am already reviewing files of students who have
> > > approached me for PhD advising, and I am in a mode of doing "soft
> > > commitments to star-level students" to get this research and its
> > > potential on their radar screen. Top students are highly sought
> > > after by advisors and I want to be an early player in this
> > > competition.
> > >
> > > Does my visit to Enron have to happen before we can set up the
> > > project and student support at Stanford? If so, doing it before the
> > > end of April is important for getting top people. If the visit can
> > > happen after we get the ball rolling, then we can schedule it in May.
> > > I assume there will be multiple visits both ways when the project gets
> > > going. Please let me know what you think.
> > >
> > > Best Regards,
> > >
> > > Nick


Is a holiday.

(Martin Luther King Day)

Accordingly, I will plan on Jan 22 as our tentative launch date.

Dave


From: "Chetan Daulat" <csdaulat@hotmail.com>
To: barryprosth@yahoo.com
CC: wendys123@hotmail.com, dgioffre@hotmail.com, Pallav.Raval@Walgreens.com,
lance@gr8.com, whorich@hotmail.com
Subject: Fwd: FW: FW: Seminoles
Date: Tue, 17 Oct 2000 14:51:01 EDT

>From: "Chris Liang" <cliang@bu.edu>
>To: "Jorge Matos" <wirebender@hotmail.com>,        "Shane Black"
><smbblack@hotmail.com>,        "Nathaniel Scripture"
><nscripture@hotmail.com>,        "Luis Torres" <ltorres@bdo.com>, "David
>Hummel" <drteeth66@aol.com>,        "Daniel Ma" <dmortho@hotmail.com>,
>"David Ingram" <di19@umail.umd.edu>,        "Chet Daulat"
><csdaulat@hotmail.com>,        "Brian Liang" <btliang@hotmail.com>,
>"Larry Chen" <bigfatlar@hotmail.com>,        "Brian Carter"
><bcarterdds@email.msn.com>
>Subject: FW: FW: Seminoles
>Date: Tue, 17 Oct 2000 00:12:35 -0400
>
>

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

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

 - 'nole cheerleader.jpg


Gloria, Jim and Harry;

Thanks for pulling us all together on Monday. We look forward to working with your group on merging the State Licensing and Utility Agreements into a common area, in order to keep the organization informed and up to date.

I wanted to re-cap just a bit.  The Services Group has state licensing responsibility for Gas and Power for EESI and EEMC. We handle new licensing and renewals.  We are on an "auto-reminder" distribution from EES legal, Heather Mathis for renewals/reporting.  We physically house all documentation relating to licensing on our floor. We currently publish and distribute as needed State License status report which identifies where we are licensed and what our license # is.  The Services Group works directly with Gloria for utility agreements, as we are one of many groups who she obtains sign-off from and/or information in order to execute agreements and State Licensing information is critical to her processes.

Gloria and I met yesterday to discuss next steps.  We are working together to provide the following.

1) Matrix of Executed Agreements which includes: State, License #, UDC, Agreement Type, Signatory, Date Issued, Expiration/Renewal, Security Requirements. (2 Weeks)
2) Backfill each groups need for documentation - provide copies of State Licenses and/or UDC agreements. (2 Weeks)
3) Identify the EES/ENE contacts sent to the State/UDC, update as needed, internally and externally. (2 - 3 Weeks)
4) Provide Summary information regarding State/UDC that can be placed on EES Market Central (2-3 Weeks?)
5) Ensure information is updated, published, organized and accessible to all interested parties. - Gloria has initiated creating binders that will be housed on the 47th floor - we will encompass State information with the executed UDC agreements.

Gloria, please feel free to add anything I have overlooked.  I've attached the contact list currently used when obtaining State Licenses. This should help identify other stakeholders who you may want to speak with.

Regards,
Rebecca


Hi George.  I'm sorry I didn't get back to you sooner.  I was just going through some old e-mails and found this one that had somehow slipped through without being read.

I'm living in Houston these days.  I was actually in London on 9/11.  My flight back (scheduled for Wednesday that week) was cancelled and I finally made it back on that Sunday.  I'm sure there were much worse places to be stranded but it wasn't a lot of fun being away from home then.  I was traveling with a couple of good friends from NYC and it was pretty tense trying to track down their friends in Manhattan.

Mark K. is in NYC.  I have heard from him and he and his family are fine.  I think his company is now called American Century and he is still managing international mutual funds.

I was in Monmouth last weekend for homecoming.  Dahlquist, McGehee, McCabe, Perschke, Vance and Ehrenhart were there.  Ehrenhart actually has a son who is a freshman at Monmouth and has joined ZBT.

Hope you guys are doing well.

Mark

 -----Original Message-----
From: 	US EPA <hess.george@epa.gov>@ENRON [mailto:IMCEANOTES-US+20EPA+20+3Chess+2Egeorge+40epa+2Egov+3E+40ENRON@ENRON.com]
Sent:	Friday, September 14, 2001 12:40 PM
To:	Taylor, Mark E (Legal)
Subject:	Where are you?

Hope you are not still in New York City?   Is Mark K. still working for
20th Century in New York?


---------------------- Forwarded by Judy Hernandez/HOU/ECT on 04/19/2000
02:03 PM ---------------------------

Dora Thurmond <dora_thurmond@uniteddc.com> on 04/07/2000 12:14:37 PM
To: Judy Hernandez/HOU/ECT@ECT
cc:
Subject: FW: Have a Blessed Day!

Dora Thurmond

-----Original Message-----
From:  Dereca Sample
Sent: Friday, April 07, 2000 10:57 AM
To: Dora Thurmond
Subject: FW: Have a Blessed Day!

-----Original Message-----
From: DARLENE JEFFERS [mailto:dj2474@compaq.net]
Sent: Tuesday, April 04, 2000 8:57 PM
To: Groves, Shannon; Land, Mary; Smith, Kathie; Smith, Leronda; Jackson,
 Twilla; Henry, Kelly-Ann; Sample, Dereca; Jones, Boyd; andrea tate;
 WILLIAMS, TERRI; WILLIAMS, GEYA
Subject: Fw: Have a Blessed Day!

>
>
> Hope this blesses you today!
>
> (click on one of  the files below)
> http://www.enol.com/~jyeoman/gallery.html
> <http://www.enol.com/~jyeoman/gallery.html>
>
>
>
>

 - att1.htm


Start Date: 4/3/01; HourAhead hour: 16;  No ancillary schedules awarded.
Variances detected.
Variances detected in Generation schedule.
Variances detected in SC Trades schedule.
Variances detected in Load schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001040316.txt

---- Generation Schedule ----
$$$ Variance found in table tblGEN_SCHEDULE.
     Details: (Hour: 16 / Preferred:  20.00 / Final:  25.63)
  TRANS_TYPE: FINAL
  SC_ID: TOSCO
  MKT_TYPE: 2
  TRANS_DATE: 4/3/01
  UNIT_ID: UNCHEM_1_UNIT

---- SC Trades Schedule ----
$$$ Variance found in table tblInt_Interchange.
     Details: (Hour: 16 / Preferred: -462.00 / Final: -450.03)
  TRANS_TYPE: FINAL
  SC_ID: EPMI
  MKT_TYPE: 2
  TRANS_DATE: 4/3/01
  TRADING_SC: NES1
  PNT_OF_INTRC: SP15
  SCHED_TYPE: ENGY
  PURCH_SALE: 1
  DEAL_NO: 1
$$$ Variance found in table tblInt_Interchange.
     Details: (Hour: 16 / Preferred: -113.00 / Final: -100.00)
  TRANS_TYPE: FINAL
  SC_ID: EPMI
  MKT_TYPE: 2
  TRANS_DATE: 4/3/01
  TRADING_SC: SETC
  PNT_OF_INTRC: NP15
  SCHED_TYPE: ENGY
  PURCH_SALE: 1
  DEAL_NO: 1

---- Load Schedule ----
$$$ Variance found in table tblLoads.
     Details: (Hour: 16 / Preferred:   0.51 / Final:   0.34)
  TRANS_TYPE: FINAL
  LOAD_ID: PGE1
  MKT_TYPE: 2
  TRANS_DATE: 4/3/01
  SC_ID: EPMI
$$$ Variance found in table tblLoads.
     Details: (Hour: 16 / Preferred:   5.55 / Final:   3.57)
  TRANS_TYPE: FINAL
  LOAD_ID: PGE2
  MKT_TYPE: 2
  TRANS_DATE: 4/3/01
  SC_ID: EPMI
$$$ Variance found in table tblLoads.
     Details: (Hour: 16 / Preferred:  50.69 / Final:  33.53)
  TRANS_TYPE: FINAL
  LOAD_ID: PGE3
  MKT_TYPE: 2
  TRANS_DATE: 4/3/01
  SC_ID: EPMI


SENT ON BEHALF OF MIKE BURKE

See attached EOTT Organizational Announcement


Nick:

It looks like Skilling will be able to attend the conference on May 15th.
However, he will need to speak in the morning, because his flight leaves on
the 15th at 3:50 p.m.

Let us know if that will work.

Thanks.


---------------------- Forwarded by Hunter S Shively/HOU/ECT on 10/25/2000
02:14 PM ---------------------------

	Enron North America Corp.

	From:  Airam Arteaga                           10/25/2000 01:07 PM

To: Deirdre McCaffrey/HOU/ECT@ECT, Sylvia S Pollan/HOU/ECT@ECT, Hunter S
Shively/HOU/ECT@ECT, Robyn Zivic/NA/Enron@Enron, Andrew H Lewis/HOU/ECT@ECT,
Geoff Storey/HOU/ECT@ECT, Martin Cuilla/HOU/ECT@ECT, Kevin
Ruscitti/HOU/ECT@ECT, Patrice L Mims/HOU/ECT@ECT, Jason Williams/HOU/ECT@ECT,
Tom Donohoe/HOU/ECT@ECT, Joe Parks/Corp/Enron@ENRON, Kelli Stevens/HOU/ECT@ECT
cc:
Subject: PIRA

PIRA will be in the office giving a presentation on Natural Gas Outlook.
 The meeting will take place Thursday, November 30th from 3:30 to 5:00 in
EB32C2.

Thanks,
Rain


Gentlemen,

Below is a plan of action for moving along with the VaR methodology change
related to forward-forward volatility:

1. Finalize the methodology proposed (Research/Market Risk)

 - determine the time period used to calculated forward-forward vols vs.
correlations (20 days vs. 60 days)
 - stabilize the calculation for curves and time periods where the curve does
not change based on historical prices, implying volatility of 0%

2. Get approval for the methodology change from Rick Buy (see draft of the
memo attached) - John Lavorato and John Sherriff

3. Develop and implement the new methodology in a stage environment
(Research/IT)

4. Test the new methodology (Market Risk, Traders)

5. Migrate into production (Research/IT)

Please let me know if this is reasonable and meets everyone's expectations.
Vlady.


John,

Please find details for the distributor for the Coast chair manufactured by
MAGIS:

Leif Petersen Inc. 15 Woodland Avenue San Rafael CA 94901

T+1 415 45 355 00
F+1 415 48 507 76

Personally I like the Orgone chair very much but I don't know how to compare
it with his other pieces...It is to my mind quite unique and a beautiful
piece to look at standing alone in a space.

Regards,

Patsy Youngstein
For Marc Newson Ltd

+44 0207 287 9388 T
+44 0207 287 9347 F

> -----Original Message-----
> From: John.Griffith@enron.com [mailto:John.Griffith@enron.com]
> Sent: 26 February 2001 17:30
> To: pod@marc-newson.com
> Subject:
>
>
> Hello,
>
> I am trying to find out about the Coast chair that Marc
> Newson designed.  I
> saw it in a magazine article and I haven't seen it being
> produced or sold
> anywhere.  Can you help me find a distributor in the US?  I
> am located in
> Houston, Texas.
>
> I love Marc's designs.  I am thinking of purchasing the
> Orgone chair from
> Totem.  What is your opinion of this chair compared to other of Mr.
> Newson's designs?
>
> Thank you for you time and consideration.
>
> Sincerely,
>
> John Griffith
>

 - Plas Orgone Chair01.jpg


Susan hours are out of hand.  We need to find a solution.  Let's meet on
Monday to assess the issue

Phillip


I am not sure of what involvement will be needed by Canadian counsel, but I
have spoken to Robert Anderson at Blakes, who acted for us on Blue Range.
Robert can be reached at 403.260.9624.  Who is US counsel and is it
worthwhile to put Robert in touch?  Peter.


CAG-10    Northern Natural, RP00-223Northern states that the reason for this filing is to comply with the Commission's Order dated April 16, 2001 in Docket No. RP00-223-003. Pursuant to the April 16 Order, Northern has revised Tariff Sheet No. 125A to reflect the offering of Limited Firm Throughput Service (LFT) in the Field Area year-round and in the Market Area during the summer (April through October). Tariff Sheet No. 125D has been revised to incorporate Northern's

CAG-1	   Northwest Pipeline, RP01-416. Expect order on revisions to provide for the equitable sharing of lateral facility costs between a shipper for whom a lateral facility was initially constructed and a third-party shipper that has requested service on a relatively inexpensive expansion of the original lateral facility.
CAG-4    Transcolorado, RP01-419. Expect order on web site services to a more standardized name, rather than the proprietary system entitled the Direct Access Request and Tracking System (DART).
CAG-8    EPGT Texas PipelinePG&E TPLP is an intrastate pipeline as defined in Section 2(16) of the NGPA, operating in the State of Texas.

http://www.ferc.gov/public/isd/sunshine.htm


Per your request, attached is the "BETA" Agreement.  Mark also thought Bob
might want the Broker Fee Agreement.
----- Forwarded by Tana Jones/HOU/ECT on 12/20/2000 03:22 PM -----

	Mark Taylor
	12/20/2000 03:19 PM

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


Friday 3/23 - Received a page from Silver in Gas Control at 8:00 pm regarding
the Gulf Plains Plant.  They were cut into another pipeline (Tennessee), and
wanted to overdeliver to us by 10M for the night.  Larry Zammit paged 8:05
pm, reiterated same.  We agreed to take the additional volume for the
remainder of the evening only.

Saturday 3/24 - 7:30 am, received page from Lee in Gas Control regarding the
Gulf Plains Plant, apparently they felt that they may need to overdeliver for
Saturday's gas day as well.  Phoned Larry Zammit and spoke with him regarding
the situation at the plant, he indicated that there may have been a
miscommunication or misunderstanding at the plant.  Larry phoned the plant
and made sure that they were on board to keep us balanced and not overdeliver
to,  or swing on, HPL.

 2:00 pm - Phoned Lee in Gas Control to see how the pipeline was doing.  He
indicated that we were pretty tight, but would probably make it without
utilizing any OBA's.

Sunday - So. Union requested 15M beginning at 11:00 am. The pipeline was
tight again, but Gas Control was okay.


I've forwarded this e-mail to Christian and Greg. Unfortunately, the
population of the office is quickly dwindling as the holidays come near. I've
been told that one or the other of them will be in today, and I'll find out
if something has been sent out already, and if not, how soon we can do that.
I'll get back to you as soon as I talk to them.

Thanks,
Kate

Kimberly Hundl@ENRON
12/20/2000 07:30 AM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Hinson Power Company, Inc.

Hi Kate,
Deals #478168, 478944, 478945, 478946 are to be confirmed by either Greg
Wolfe or Christian Yoder.  We need to get the final copy of these confirm
letters so we can scan them into the system for our files.  Also, if the
finalized confirm has been sent to the counterparty we need to change the
status in the system.  These deals are still showing up on our "New" report
every morning and I need to do something with them.
Thanks for your help!
Kim


Announcement for E220-1: Corporate Financial Reporting:

Greetings,
I am in need of a class representative.  If one of you is interested in this
role, please send me an e-mail.
Kindly,
Salvador


"Ditto Credit" - or in other words,  no change to the physical power profiles
for these CP's if they are currently trading on EOL. If they are not
currently trading on EOL, then they are not approved for physical power.

Thanks,

Shari

	Tana Jones
	01/31/2001 09:50 AM

		 To: Alan Aronowitz/HOU/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT, Shari
Stack/HOU/ECT@ECT, Harry M Collins/HOU/ECT@ECT, David
Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt, Marie Heard/Enron
Communications@Enron Communications, Robbi Rossi/Enron Communications@Enron
Communications, John Viverito/Corp/Enron@Enron, Jane McBride/AP/Enron@Enron,
Andrea Calo/SA/Enron@Enron, Peter Keohane/CAL/ECT@ECT
		 cc:
		 Subject: EOL Approvals, 1-31-01

----- Forwarded by Tana Jones/HOU/ECT on 01/31/2001 09:49 AM -----

	Walter Guidroz@ENRON
	01/31/2001 09:42 AM

		 To: Karen Lambert/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Samuel
Schott/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Brant Reves/HOU/ECT@ECT, Debbie
R Brackett/HOU/ECT@ECT, David Hardy/LON/ECT@ECT, Lesli Campbell/HOU/ECT@ECT,
Cynthia Clark/Corp/Enron@ENRON, Mary G Gosnell/HOU/ECT@ECT, Enron Europe
Global Contracts and Facilities, Enron Europe Global
CounterParty/LON/ECT@ECT, Stephanie Sever/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT,
Adnan Patel/Corp/Enron@ENRON, Claudia Clark/HOU/ECT@ECT, William S
Bradford/HOU/ECT@ECT, Lisa Lees/HOU/ECT@ECT, Juana Fayett/Corp/Enron@Enron,
Jana Morse/Corp/Enron@Enron, Trang Le/HOU/ECT@ECT, Paul Maley/LON/ECT@ECT,
Sonya Clarke/LON/ECT@ECT, Lee Munden/LON/ECT@ECT, Tim Davies/LON/ECT@ECT,
Karen O'Day/NA/Enron@Enron, Tanya Rohauer/HOU/ECT@ECT, Kelly
Lombardi/NA/Enron@Enron, Brian Lindsay/Enron Communications@Enron
Communications
		 cc:
		 Subject: EOL Approvals, 1-31-01

Please see attached.


Shirley,

Can you schedule an interview for him with Stinson, Zimin and Krishna.

Vince
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 03/02/2000
07:47 AM ---------------------------

Nurit Krausz <nurit@fireant.ma.utexas.edu> on 03/01/2000 10:44:00 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc: Nurit Krausz <nurit@fireant.ma.utexas.edu>
Subject: Job application

Dear Dr. Kaminski,

I currently hold a post-doctorate position in the Mathematics
Department at the University of Texas at Austin (with a Ph.D.
in theoretical physics). Although my position here is renewable
until summer 2001, I would like to move on to a more dynamic field
where I can still use my analytical skills and mathematical knowledge.
Since attending a series of lectures on mathematical finance given
by Dr. Marc Potters last summer I started studying the subject on my
own and found it intriguing and challenging.

I am interested in a position in your group (RAC) at Enron.
Last fall in a Career seminar at UT you mentioned that people who are
interested can send you their resume. If this is still relevant, please
find below my resume (in Word 97 and text formats).
Thank you for your time.

Yours,
Nurit Krausz

***********************************************************************
Nurit Krausz, Ph.D.               http://www.ma.utexas.edu/users/nurit/
Dept. of Mathematics              Phone: (512) 471-7170
University of Texas at Austin     Office: RLM 11.170  Hours:MWF 8:30-10
***********************************************************************

RESUME

Nurit Krausz
University of Texas
Department of Mathematics
Austin, TX 78712
Phone: (512) 471-7170
E-mail: nurit@math.utexas.edu
http://rene.ma.utexas.edu/users/nurit/

Objective

A position in the field of mathematical finance utilizing broad
mathematical knowledge, innovative thinking and creativity.

Summary of Qualifications

With extensive academic background and research experience,
combined with experience as an engineer in the Israeli Air Force,
I possess the following:
* Deep mathematical and scientific knowledge.
* Strong analytical and problem-solving skills.
* Proven ability to quickly become an expert in new subjects.
* Ability to present clearly and effectively complicated subjects.
* Ability to work productively both independently and in teams.

Academic Positions

1998-present: Post-doctorate position at the University of Texas
at Austin, Department of Mathematics.

Education

1994-1998: D.Sc. in Physics at the Technion - Israel Inst. of Tech.
Research Thesis: Quantum Dynamics on Non-compact Group Manifolds.
Supervisor: Prof. M. Marinov.

1992-1994: M.Sc. in Physics at the Technion - Israel Inst. of Tech.
Research Thesis: A Study of Scintillation in Doped Silica Glass
for Detection of Neutrino Oscillation.
Supervisor: Prof. J. Goldberg.
The experiments were performed at CERN during the summer of 1993.
* Performed the design, testing, and installation of the experimental
  setup from remote-controlled mechanical equipment to sophisticated
  electronics.
* Performed statistical data analysis and critical interpretation of
  results using software developed at CERN (PAW).
* Solved a complicated problem of track reconstruction through an
  unusually shaped magnet for the CHORUS collaboration at CERN, and
  delivered a computer code ready for implementation, still in use
  today.

1985-1989: B.Sc. in Aeronautical Engineering Cum Laude at the
Technion - Israel Institute of Technology.

Military Service

1989-1992: Aeronautic design engineer in the Israeli Air Force.
Rank: First Lieutenant.
* Designed and supervised numerous prototype installations of
  electronic equipment and changes in combat planes.
* Wrote procedures for harsh environmental durability tests for cockpit
  and avionics bay-mounted equipment.
* Negotiated and supervised manufacturing of parts with contractors.
* Attended Project Management, Engineering and Product Reliability
  and Maintenance courses.
* Programmed simulations of ammunition trajectories from moving
  aircrafts.

Teaching Experience:

1998-present: Lecturer at the University of Texas
Undergraduate courses: Precalculus, Calculus, Linear Algebra
Graduate course: Theory of Lie Groups

1992-1997 Physics Department, Technion, Teaching Assistant
Undergraduate course: Elementary Lab in Mechanics
Graduate courses: Group Theory for Physics,
Introduction to Particle Physics, Relativistic Quantum Mechanics.

Computer knowledge:

UNIX and Windows OS, most common word processors, Excel,
MAPLE, MATHEMATICA, FORTRAN, HTML, LaTeX.

Publications:

1. J. Goldberg and N. Krausz, Response of Cerium-Doped Silica Glass
   in a beam at CERN, Proceedings of the SCIFI conference, Notre Dame
   University, Notre Dame, Indiana (1993).
2. N. Krausz and M. S. Marinov, Quantal Dynamics on Non-compact
   Groups, Proceedings of the 5th International Wigner Symposium,
   World Scientific (1998), 398.
3. N. Krausz and M. S. Marinov, Exact evolution operator on
   Non-Compact Group Manifolds, quant-ph/9709050,
   submitted to J. of Math. Phys.
4. N. Krausz, Spherical averages in Minkowski space, In preparation.
5. N. Krausz, Quantum Field Theory in Minkowski space, In preparation.

 - RESUME.DOC


Brad Romine called 9/20/00-x 54922 Per GW to set up mtg w/Reck


Edmund,

Can you help us figure out who in London can help Anita execute her first
ISDA, which also will include the usual Secretary's Certificates.  I don't
know if you know, but Singapore doesn't need EEFT to sign as the arranger,
ECTRIC can sign directly. Per the resolution, it needs to be a VP, President,
Managing Director or Chairman.   It looks like the London based officers who
could sign would be John Sherriff, Danny McCarty or John Lush (?), unless you
are familiar with someone else who can sign for ECTRIC.  It looks like for
the Secretary's Certificates, all the Secretaries are located here in
Houston, so we should probably prepare them for the usual Kate Cole's
signature.

Anita, you will need to have two signed copies, and initial both copies for
signature, as also will your London Credit person.

Congrat Anita!  This is very exciting!
---------------------- Forwarded by Tana Jones/HOU/ECT on 10/20/99 12:28 PM
---------------------------

Anita Fam
10/19/99 09:01 PM
To: Tana Jones/HOU/ECT@ECT
cc: Mark Taylor/HOU/ECT@ECT, Angeline Poon/SIN/ECT
Subject: Re: ISDA Master Agreement with Caltex Trading Pte Ltd

Hi Tana,

Thanks for your note ....which was totally helpful as usual.

This is the FIRST ISDA that we're executing here in Singapore so it's a Red
Letter Day for us.  The process has been painfully slow mainly because of
London Credit's reluctance to provide us with any credit terms unless the
situation really demands for it.  We've got another one in the pipeline with
one of the Shell affiliates though I'm not exactly holding my breath about
it.  We'd sent them the draft last year and they've yet to revert despite us
sending frequent reminders.  Not exactly on the top of their  list of things
to do obviously!!!

Anyway - Caltex has executed the ISDA which we have in hand and what I would
like to know is who is on the slate of signatories for ECTRIC.  Is there
anyone in the London office who is authorised to sign the document otherwise
we'll have ISDA couriered over to you in Houston.  If the document is to be
executed in Houston, I'd be eternally  grateful if you could assist in
getting the ISDA executed for us on ECTRIC's behalf as well as in obtaining
the Secretary's signature for both certificates. I'll have my assistant
Angeline coordinate with you on  the nitty gritties so that you'll know when
to expect to receive the documents for execution.

Many thanks as always,
Anita

	Enron Capital & Trade Resources Corp.

	From:  Tana Jones                           10/20/99 02:42 AM

To: Anita Fam/SIN/ECT@ECT
cc: Mark Taylor/HOU/ECT@ECT
Subject: Re: ISDA Master Agreement with Caltex Trading Pte Ltd

I had a conversation with Mark Taylor this morning about your board
resolution.  He looked at the resolution we drafted for ECT International,
and he said it would also cover the Singapore trading, so I have drafted a
Secretary's Certificate and Incumbency Certificate for you to use.  With none
of the Secretary's being located in Singapore, do you need my assistance in
getting it signed here?  Who will you have sign the agreement?  What do you
usually do?


Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com
----- Forwarded by Sara Shackleton/HOU/ECT on 06/07/2001 06:11 PM -----

	Susan Bailey
	06/05/2001 05:40 PM

		 To: Sara Shackleton/HOU/ECT@ECT, Mary Cook/HOU/ECT@ECT
		 cc:
		 Subject: Re: Merchant Energy Group of the Americas

Sara or Mary,

Carol asked that I have one of you handle the following request for the
captioned counterparty with respect to the financial consents.

++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

Carol is handling the consent for EPMI, and set forth below are her
instructions to Rhonda Denton with EPMI

Rhonda:
Enclosed is a clean and marked version of the MEGA Assignment.  Is the plan
to confirm these trades under the existing Master with Morgan until a new EEI
Master is executed?  What is the cutoff date for this assignment?

++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
++++++++++++++++++++++++++++++++++++

Set forth below is original message I received from the Counterparty
requesting such consents.   I originally thought Carol would handle, but she
said one of you should handle the financial piece for ENA.   So attached
hereto is that orignal message and the proposed consents:

	Susan Bailey
	05/14/2001 03:12 PM

		 To: Carol St Clair/HOU/ECT@ECT
		 cc:
		 Subject: From MEGA, Consent to Assignment....

Carol,

Please review message below from Kristina Drew @ Merchant Energy.  I thought
you would be the appropriate lawyer to work on this as it involves EPMI as
well as a derivative piece with ENA.

FYI:  the assignment is not of immediate need, being that FERC approval must
secured.

If you do not think this to be the case, please advise as to who should work
on this matter.

Cordially,
Susan S. Bailey
Enron North America Corp.
1400 Smith Street, Suite 3806A
Houston, Texas 77002
Phone: (713) 853-4737
Fax: (713) 646-3490
E:mail:  Susan.Bailey@enron.com
----- Forwarded by Susan Bailey/HOU/ECT on 05/14/2001 03:06 PM -----

	"Drew, Kristina" <DrewK@merchantenergy.com>
	05/14/2001 03:05 PM

		 To: "'susan.bailey@enron.com'" <susan.bailey@enron.com>
		 cc: "Abba Gana, Mustapha" <AbbaGanaM@merchantenergy.com>
		 Subject: From MEGA, Consent to Assignment....

Susan,

Please find attached for your review, a Consent to Assignment Agreement
between us, Enron North America Corporation and Morgan Stanley Capital Group
Inc.  We would like to have the document ready to execute at about the same
time we execute the Physical Power Consent to Assignment Agreement with
Enron Power Marketing, Inc., and we are waiting for FERC approval on the
Physical Power Sales as well.  I just wanted to present the agreement to you
now, so that if it is necessary, we have time to discuss any concerns.  I
look forward to talking with you to work toward the execution of the
Agreement.

 <<ENA (Basis Swap) Assignment Consent Agreement 042501.doc>>
<<ENA (Nat Gas) Assignment Consent Agreement 042501.doc>>

Thanks,

Kristina M. Drew
Contract Adminstrator
Merchant Energy Group of the Americas, Inc.
410.295.1708

 - ENA (Basis Swap) Assignment Consent Agreement 042501.doc
 - ENA (Nat Gas) Assignment Consent Agreement 042501.doc


Start Date: 1/3/02; HourAhead hour: 22;  HourAhead schedule download failed. Manual intervention required.


Thanks for the update.  Unfortunately my schedule is tight until then, but I
will review this informantion.

Jeff

From: Brando Hayden on 12/18/2000 10:41 AM
To: Jeffrey A Shankman/HOU/ECT@ECT
cc: Mark Tawney/HOU/ECT@ECT
Subject: Performance - Weather Trader

Jeff,
my name is Brando Hayden and I am a trader and second year Associate on the
Weather Derivatives desk.  Mark Tawney, my supervisor, has made a few
attempts to set up a meeting for the three of us to discuss a few issues
involving my performance and status in the group.  I believe that I have
applied myself over the last seventeen months to produce significant results
in my book and for the group.   My portfolio is up $6.7M YTD (12/17/00) which
represents a significant contribution to the group's total revenues this
year.  The issue here is that despite this significant contribution among
other contributions to the group my performance has been portrayed in the PRC
process as sub-standard and worthy of demotion.  I do not believe that this
is just and would like to get this issue addressed.  As a result I would like
to set up an appointment to speak with you about this matter.

I have attached a report of my trading performance through 12/17/00 for your
review.  I have done this only because I know your position as President/COO
of Global Markets grants you access to this information.

Regards,
Brando

PS: Mark has just passed by to tell me you can meet in January.  However, I
would still like you to have this message.


CALENDAR ENTRY:	APPOINTMENT

Description:
	Ava-35842/Market Services Council Mtg. conference room 42C2

Date:		12/13/2001
Time:		10:30 AM - 12:00 PM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


Currently, I am receiving exception reporting from many of your groups in
EXCEL.  We have started to build a database to replace the EXCEL reporting.
In order to make the reporting easy on you we would like to build the
database around your current systems.  In order to do this, you and people in
your groups will be receiving calls from Kelly Tisman, who is responsible for
building the database.  Please make some time to show her your systems and
needs as far as the reporting is concerned.

Attached is the list of people she is planning to contact.  If it needs
updated, please let Kelly know.

Thanks

Shona


Here is your resume with a few corrections.  I think it's good enough.

-----Original Message-----
From: Jason.Williams@enron.com [mailto:Jason.Williams@enron.com]
Sent: Monday, November 19, 2001 12:58 PM
To: WilliamsJ@iconus.com
Subject: RE:

(See attached file: Info.doc)

    -----Original Message-----
   From:   "Williams, Joanna (TX)" <WilliamsJ@iconus.com>@ENRON
   Sent:   Sunday, November 18, 2001 8:58 PM
   To:     Williams, Jason (Trading)
   Subject:

   Here you go. Love you.

   "WorldSecure <iconus.com>" made the following
    annotations on 11/18/01 21:58:07

----------------------------------------------------------------------------
--
   This e-mail transmission may contain confidential or legally privileged
   information that is intended only for the individual or entity named in
   the e-mail address. If you are not the intended recipient, you are
   hereby notified that any disclosure, copying, distribution, or reliance
   upon the contents of this e-mail is strictly prohibited. If you have
   received this e-mail transmission in error, please reply to the sender,
   so that ICON Clinical Research can arrange for proper delivery, and then
   please delete the message.  Thank You.

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

    - Jason's Resume.doc << File: Jason's Resume.doc >>

**********************************************************************
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.
**********************************************************************

"WorldSecure <iconus.com>" made the following
 annotations on 11/20/01 09:59:18
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==============================================================================

 - Jason's Resume.doc


thank you!

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Monday, February 04, 2002 10:09 AM
To:	Rybarski, Amanda
Subject:	RE:

it looks great

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Monday, February 04, 2002 10:09 AM
To:	Maggi, Mike
Subject:	RE:

I got a new haircut!

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Monday, February 04, 2002 10:09 AM
To:	Rybarski, Amanda
Subject:	RE:

absolutely

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Monday, February 04, 2002 10:08 AM
To:	Maggi, Mike
Subject:	RE:

you like?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Monday, February 04, 2002 10:08 AM
To:	Rybarski, Amanda
Subject:

incredible


-----Original Message-----
From: 	Pehlivanova, Biliana
Sent:	Monday, November 12, 2001 10:54 AM
To:	Rohmer, Gisselle; Beylin, Anya; Marolo, Massimo; Velez, Luis; Ramirez, Jose A; Guzman, Julio; Lombard-Benito, Giselle; Mills, Bruce; Kulic, Sladana-Anna; Cardenas, Catalina; Gupta, Gautam; Khandker, Dayem; Gandhi, Sachin
Subject:	FW: Highlights from this morning's ENE/DYN analyst conference call

 -----Original Message-----
From: 	Tucker, Patrick
Sent:	Monday, November 12, 2001 10:25 AM
To:	Pollan, Sylvia S.; Culotta, Lindsay; Murrell, Russell E; Plachy, Denver; Cuilla, Martin; Storey, Geoff; Yawapongsiri, Virawan; Mahmassani, Souad; Donohoe, Tom; Ruscitti, Kevin; Shively, Hunter S.; Lewis, Andrew H.; Giron, Darron C.; Frihart, Bryant; Tucker, Patrick; Roberts, Linda; Luce, Laura; Hogan, Irena D.; Vickers, Frank; Williams, Jason (Trading); Mims, Patrice L.; Simpson, James; Hodge, John; Keavey, Peter F.; Mckay, Brad; Mckay, Jonathan; Pereira, Susan W.; Pimenov, Vladi; Ring, Andrea; Savvas, Leonidas; Townsend, Judy; Versen, Victoria; Barbe, Robin; Concannon, Ruth; Goodell, Scott; Jones, David; Kaiser, Jared; Loving, Scott; Bates, Kimberly; Muhl, Gil; Smith, Maureen; Smith, Shauywn; Taylor, Craig; Willis, Jim
Subject:	Highlights from this morning's ENE/DYN analyst conference call

Listened in on the analyst call this morning.  Here are my notes.  Did not yet have a chance to organize them, so they're simply in chronological order.

The call began with Watson, Bergstrom, and Whalley reading from prepared statements.  Watson spoke for c. 10 minutes, Bergstrom for 5, and Whalley spoke for perhaps 30 seconds.  Dynegy management was noticeably in control of the call.  Enron executives spoke when questions were directed to them.

Specific points:
EES will be a part of the new company.
Enron assets will be revalued at closing.
The investment in Northern Natural takes the form of convertible preferred.  If the merger does not go through, Dynegy has the right to acquire Northern for 'very little' additional consideration.  If DYN terminates the merger and ENE 'has sufficient liquidity', ENE has right to repurchase the convertible preferred.
Debt/equity of combined company expected to be <45%.
Both companies will remain on RatingsWatch negative.
ChevronTexaco will hold 169MM shares out of a total 650MM shares of the post-merger entity.
Watson reiterates that going forward, the new entity will be run with a focus on transparent and clear financial structure and disclosure, with a significant reduction in on- and off-balance-sheet leverage.
In what was termed a "new approach", the new entity will be run with a focus on cash flow rather than earnings.
Rumors that Dynegy did the deal because of an unhedged exposure to Enron are not true.  Dynegy owed Enron <$50MM.
Lay says that Enron had other options, 'particularly financial'.
All of the discussion and activity has taken place over the last two weeks.
Lay acknowledges that the number for exposure to securities lawsuits may be 'pretty big', but that the companies feel they're able to appropriately value this exposure.
Lay says we have nothing else to hide, but internal investigation still under way.
Lay:  had the SPEs been capitalized with perhaps $30MM more of risk capital, there would have been no question that they would have qualified for off-balance-sheet treatment and there would have been no need to restate earnings last week to reflect consolidation of the SPEs.
Dynegy says that 'several' internal investigations continue at Enron, and thus DYN/ENE cannot say with certainty that there's absolutely nothing else out there.
Doty (Dynegy CFO) says that late last week, ENE had 'close to a billion' in cash.
Osprey will be unwound late next summer. Marlin will be unwound after closing.
Many of the off-balance-sheet structures, including the credit-linked notes, are expected to be unwound/redeemed or at least significantly reduced prior to closing.
With regard to ENE asset dispositions, these will be accelerated to the extent possible.  However, Doty says that 'our backs are not against the wall', and the company will continue to focus on getting value for its assets as well as cash.
ENE will renew its 364-day facility (believe this is the $3Bn facility that we drew down a couple of weeks ago) within the next 6-8 weeks.
BBB-flat most likely rating for combined entity, according to initial comments from ratings agencies.
McMahon says 'no comment' to WSJ article indicating that ENE's banks are preparing to make an equity infusion into ENE in the next few weeks.
Consolidation of trading activity: Mid- and back-office consolidation will see substantial progress prior to closing, such that only the front office / trading books will need to be combined at closing.  EES, NNG and TW have no real overlap with existing DYN activity, so there won't be much integration work required there.  The big integration effort will be ENA.
Watson says that the 'creative financing' surrounded non-core assets.  Doty adds that, 'frankly', DYN assigned zero economic value to non-core businesses in their valuation model.  They bracketed the maximum expected exposure from the non-core assets/businesses and left it at that.
Watson mentions that DYN would not have gotten involved with Enron had they not been approached by 'Enron's top three executives', who said that they thought a combination with Dynegy made the most strategic sense for both companies.  Says that their approach evidenced a  willingness to work with DYN to integrate the two companies that made a big difference in Dynegy's deliberations on proceeding with the merger.
Watson/Doty said that they're NOT 100% sure that no surprises remain in Enron's books--but that the risk/reward offered by the combination was compelling.
The deal does have material-adverse-change outs for Dynegy, covering any MAC regarding Enron's assets or businesses.  Dynegy's lawyers indicated that the MAC language was a 'blunt instrument' under which it would be difficult to bring a case, so Dynegy inserted a specific paragraph that gives Dynegy the right to terminate the merger if the Enron's total legal liability (from any source or cause of action) tops $3.5Bn prior to closing.
McMahon adds that there 'could' be more restatements, but he 'does not expect' there to be more restatements.
ENE international hard assets definitely on the asset disposition list.
The merger structure calls for a new entity to take over Enron.
Enron is planning to hold an Enron-specific conference call in the next few days, tentatively scheduled for Wednesday.
Initial reaction of ratings agencies 'very positive' to combined entities.
McMahon acknowledges that Enron would have had to have an additional equity infusion prior to year-end, had the merger not materialized.
Dynegy's earnings guidance places Enron-related earnings accretion at $0.90-0.95, which represents a '25% haircut' to Enron internal estimates.  Doty says that this is all operating earnings--figure does not include any amounts from expected synergies.
Doty says that both Enron and Dynegy's books, as far as he understands, are relatively short-term in weight, and this will continue to be the weighting of the new entity.  Says a 'very very substantial' portion of future trading earnings will be expected to be cash.
ChevronTexaco's investment in Dynegy was calculated at a 5% discount to public prices on the date of negotiation (not disclosed).  Given the runup in Dynegy stock last week, ChevronTexaco's investment is now at a 'more substantial' discount to market prices.  ChevronTexaco has provision to get 'different prices at closing if those prices are substantially better'.  (No further clarification given).
Whalley believes that 'we'll retain' the Enron traders and marketers. They're used to being part of a winning team, and the combined entity will definitely be a winner.  They have talked with most of the Enron business leaders, and they are 'very excited' by the combination.  They will be working with the Enron business leaders to ensure talent is retained.  Whalley was asked if there will be any key employee retention provisions.  He says that 'to the extent necessary, yes.'
Watson says that the trading strategy of the combined entity will be a combination of DYN and ENE--there will be more of an asset-backed trading focus, but by the same token the new Dynegy will be involved in much more financial market-making trading than the Dynegy of today.
Watson says that if there were to be any change in culture, he's a strong team player.  He does not want to see an individual do well if the company or division does not do well.

Patrick Tucker


Group,
	We will be taking over the dispatch of Enron Canada Corp.'s Sundance 3 and 4 units for the evenings of July 19-July 22 (beginning at 18:00 PDT and ending at 6:00 PDT every day, except July 20, where the start time will be 15:00 PDT).

Here is a note of things to remember:

?	SD3 will be coming down for maintenance July 20 at approximately 20:00 PDT.  The plant will call with updates periodically.  Please record this information in the dispatch log.  This can be accessed through the 'Albertapower' site.  Scroll down from Fundamentals to Admin, and at the bottom of the page is the dispatch log. The fundamentals site can be found at  http://albertapower/xnav/default.htm

?	SD4 has all of its power offered into the Pool at $5.  That's 353MW @ $5.  Therefore you shouldn't have to worry about dispatching the plant up and down.

?	ECC's  telephone line (403-974-6900) has been forwarded to your line for the required hours.  You will receive phone calls from the power pool or the plant on this line.

?	The number for the plant is 780-960-7803 and the number for the power pool is 403-233-7403.

	You will have to access the power pool ETS website in case an energy restatement of our Sundance units is needed.  This most likely won't happen.  In case it does, the site is www.powerpool.ab.ca.   [You must Login (top right hand corner) as John A. Zufferli-this MUST be done on my computer.  Click on ETS, then Submission.] - our passwords are not currently working...so... you can call the Alberta powerpool for help. You can then restate the offers of SD3 and SD4 as required. Unless something changes you will need to fax the resubmission to Alberta Power Pool and have them resubmit it.

?	If you have any problems you can reach Bill Greenizan at 620-1180 or his pager at  billgreenizan@epagenet.net.

	PLEASE CALL ME WITH QUESTIONS!
Thanks,

Bill