---------------------- Forwarded by Kay Mann/Corp/Enron on 11/13/2000 04:27
PM ---------------------------

dbennett@technip.com on 11/13/2000 04:00:33 PM
To: kay.mann@enron.com, dowlena@camerondiv.com
cc:

Subject: Dewey McLain

Sorry you two, I almost forgot you...
---------------------- Forwarded by Donna Bennett/TECHNIP-USA on 11/13/2000
03:57 PM ---------------------------

Donna Bennett
11/13/2000 03:58 PM

To:   Anil Akolkar/TECHNIP-USA@TECHNIP-USA, Jerry
      Alves/TECHNIP-USA@TECHNIP-USA, Jim Anderson/TECHNIP-USA, Honey
      Ashworth/TECHNIP-USA@TECHNIP-USA, Albert F.
      Astorga/TECHNIP-USA@TECHNIP-USA, Debbie
      Bakemeier/TECHNIP-USA@TECHNIP-USA, Howard
      Bass/TECHNIP-USA@TECHNIP-USA, Gary Bowles/TECHNIP-USA@TECHNIP-USA,
      Ron Callaway/TECHNIP-USA@TECHNIP-USA, Carlos
      Carvajal/TECHNIP-USA@TECHNIP-USA, Anthony
      Castellese/TECHNIP-USA@TECHNIP-USA, Bobbi
      Castellese/TECHNIP-USA@TECHNIP-USA, Kim
      Castle/TECHNIP-USA@TECHNIP-USA, Lois
      Christopher/TECHNIP-USA@TECHNIP-USA, Joan
      Colquitt/TECHNIP-USA@TECHNIP-USA, Joe
      Colquitt/TECHNIP-USA@TECHNIP-USA, John Crain/TECHNIP-USA@TECHNIP-USA,
      Phillip Douglas/TECHNIP-USA@TECHNIP-USA, David
      Edmondson/TECHNIP-USA@TECHNIP-USA, Tom
      Gibson/TECHNIP-USA@TECHNIP-USA, Les Haas/TECHNIP-USA@TECHNIP-USA,
      Chris Handwerk/TECHNIP-USA@TECHNIP-USA, Steve
      Hansen/TECHNIP-USA@TECHNIP-USA, Les Harwell/TECHNIP-USA@TECHNIP-USA,
      Lou Hawks/TECHNIP-USA@TECHNIP-USA, Paul
      Heitfeld/TECHNIP-USA@TECHNIP-USA, Fred
      Herrod/TECHNIP-USA@TECHNIP-USA, Sam Hext/TECHNIP-USA@TECHNIP-USA,
      Tina Jones/TECHNIP-USA@TECHNIP-USA, Margie
      Leggio/TECHNIP-USA@TECHNIP-USA, Efren
      Manalansan/TECHNIP-USA@TECHNIP-USA, DMIELCAREK@TECHNIP@TECHNIP-USA,
      Credia Moore/TECHNIP-USA@TECHNIP-USA, Nancy
      Moran/TECHNIP-USA@TECHNIP-USA, Melissa Park/TECHNIP-USA@TECHNIP-USA,
      Ed Peeler/TECHNIP-USA@TECHNIP-USA, Dean
      Porter/TECHNIP-USA@TECHNIP-USA, Tom Randolph/TECHNIP-USA@TECHNIP-USA,
      Larry Reans/TECHNIP-USA@TECHNIP-USA, Bobby
      Rich/TECHNIP-USA@TECHNIP-USA, Earnie Samples/TECHNIP-USA@TECHNIP-USA,
      Robert C. Sanders/TECHNIP-USA@TECHNIP-USA, Stuart
      Scarborough/TECHNIP-USA@TECHNIP-USA, Zada
      Shaefer/TECHNIP-USA@TECHNIP-USA, Cathy
      Templeton/TECHNIP-USA@TECHNIP-USA, Reginald Van Den
      Daelen/TECHNIP-USA@TECHNIP-USA, Mary VonArb/TECHNIP-USA@TECHNIP-USA,
      Charlie White/TECHNIP-USA@TECHNIP-USA, Doug
      White/TECHNIP-USA@TECHNIP-USA
cc:
Subject:  Dewey McLain

We're having a small get together Wednesday, November 15 at Champs (located
in the Uptown Park shopping center, near McCormick & Schmick at the corner
of 610 and Post Oak).  I'm sure there's a lot of us who didn't get to say
good-bye so, stop by for a drink and wish Dewey good luck in his new
adventure.


Dave,
I am trying to do a summary. Do you think it's better If I send it as it is?

-----Original Message-----
From: Allan, David
Sent: Tuesday, July 24, 2001 11:07 AM
To: Causholli, Monika
Subject: RE: Foex Index; yr two e-mails

Very interesting email.

Did you send to Jim Bryja?

-----Original Message-----
From: Causholli, Monika
Sent: Tuesday, July 24, 2001 10:42 AM
To: Allan, David; Hutchinson, Elizabeth
Subject: FW: Foex Index; yr two e-mails

Guys,

Here is what I got from Timo Teras at the Foex on their methodology in calculating the pix

Monika

-----Original Message-----
From: Timo Ter?s [mailto:timo@foex.fi]
Sent: Tuesday, July 24, 2001 11:29 AM
To: Causholli, Monika
Cc: tuula@foex.fi
Subject: Re: Foex Index; yr two e-mails

Hi Monika,

Welcome to the pulp and paper world.

In order to understand the index system, the first thing is to look at our
web-site www.foex.fi which includes a lot of information, particularly in
this case the FAQ section. You probably have taken a look at that already,
though.

Our two pulp indexes, NBSKP (Northern Bleached Softwood Kraft) and BHKP
(birch+eucalyptus) cover the European market. As abt 40% of the world pulp
trade is for the European market, these are, in a way, considered to be the
"world market prices", particularly as the third biggest market, North
America (Asia is the second biggest) has virtually the same prices as
Europe; correlation between the two is well over 0.9.

The sellers reporting to us are, by definition, in NBSKP from Canada, US
West Coast and the Nordic countries. BHKP (birch, euca) sellers are from the
Nordic region, Latin America, Spain and Portugal and a number of
Asian/African companies selling Eucalyptus pulp to the European market.
Buyers are European producers of paper and paperboard buying at least some
of their pulp from the open market, representing virtually all countires in
Western Europe. The split between birch and euca is approximately 30%/70%,
again reflecting the actual situation in the European market.

The exact coverage is difficult to calculate as some of the data received
from buyers are from same deals which are reported by the sellers and some
are not. The producers reporting to us represent roughly 80% of the supply
to Europe in the two benchmark grades.

Most (=80-90%) of the pulp sold in Europe is so-called contract business.
This means that a buyer and a seller have an annual or multiannual contract
covering the grades and volumes, quantity rebates etc. However, prices are
fixed also for contract business on a monthly/quarterly basis. Most of the
pulp arriving Continental Europe or UK from abroad, goes through consignment
warehouses (in places like Antwerp, Rotterdam, La Pallice, Tilbury,
Savono-Livorno range etc.). As forwarding companies allow 30-60 days of free
storage, buyers do not hold much inventory at their mills but take the pulp,
delivered by sellers in large shipments, little be little by lorry, rail or
barge. Each delivery is invoiced separately and those invoice prices are the
price reported to us, before customer specific rebates. Prices are for prime
grade pulp and for delivery during the current or latest for the following
month.

The following comments are worth making:
- Our system is based on first taking off top 10% and bottom 10% of the
prices received and only then calculating the index (or rather benchmark)
values. This way we avoid any clerical errors in the data received as well
as any theoretical attempts of manipulation (we have never detected any
attempts)
- We have a more or less equal number of prices received from buyers and
sellers. Some we receive through agents/merchants/trading houses - usually
mandated by a supplier to give us the price data
- If someone does not report their prices on a given week, we can use the
previous week's data but only once
- Prices are not volume-weighted (in order to avoid the manipulation
possibility and unnecessary weekly changes up and down because a supplier
sold one week to large customers and next week to small ones)
- Prices are CIF European port before customer-specific rebates (again to
avoid unnecessary volatility of the index at a time when prices remain
unchanged; also, rebates are often given only afterwards - e.g. when
exceeding a certain tonnage threshhold - and we cannot alter our indexes
retroactively)
- Our index system is approved by financial regulators and by European
Community anti-trust regulators (=DG IV) and audited by
PriceWaterhouseCoopers.
- There is a group of independent experts, case need, as "trouble shooters".
Never have had any and never have received any official complaints about the
index values.
- Participation is totally voluntary
- The main reasons for differences between the often compared FOEX indexes
and Pulpex quotations include:
a) our prices are before customer-specific rebates (averaging 5-6%), Pulpex
prices are net
b) our prices are for contract business, Pulpex prices represent the lowest
spot-levels in a weak market and highest spots in a strong market
c) our price info is based on actual sales, Pulpex prices are expectations
what the spot price might be in e.g. 3 month's time
d) our price is for a prime quality (within each benchmark grade there are
surprisingly large differences between individual mill grades sold) approved
by a seller from a particular supplier/mill, whilst Pulpex prices, based on
a delivery concept (i.e. you do not accept the price offered to close a
contract, you can make/take delivery), are prices in a particular inventory
location (3-4 alternative ones), sometimes far away from buyer's or seller's
normal ports for any lot (often unknown/unwanted grade, up to 11 months and
29 days old goods). This system tends to emphasize in the Pulpex system the
extreme prices, up or down, particularly in these early stages with low
liquidity.
- Our indexes are trade-marked products. Therefore their use for any
commercial purposes is possible only with our permission. To get that
permission, users pay us a small premium, the main source of our income.
Enron and FOEX Indexes Ltd. have a contract, Bob Crane has the details at
your end.

I trust this is helpful. I encourage you to contact us anew for any
additional questions.

Please find enclosed, for order's sake our pulp specs, some additional
comments we send to the price providers and the historical price series you
asked for (historical series are still without today's indexes, to be
published about an hour from sending this message; you can add those from
our web-site by the time you read this).

My best regards to you as well as to David and Elizabeth.

Timo Teras

-----Original Message-----
From: Causholli, Monika <Monika.Causholli@ENRON.com>
To: timo.teras@poyry.fi <timo.teras@poyry.fi>
Cc: timo.teras@foex.fi <timo.teras@foex.fi>
Date: 23. hein?kuuta 2001 11:43
Subject: Foex Index

Hello Mr. Teras,

My name is Monika Causholli and I am a new analyst working at Enron
Industrial Markets concentrating in pulp. I work with David Allan and
Elizabeth Hutchinson whom you met in the conference in Las Vegas.

I am in the process of understanding the pulp market and how it works.
Right now I am working on a project where I have to analyze the FOEX
index and the methodology behind it. I have seen one of the
presentations that you have presented in the States a while ago but I am
looking for a little bit more detail. For example, what kind of
companies you contact, what percentage of industry they represent in
terms of tonnage, markets that they represent, what geographic area
these companies represent and anything else that you think its important
to know.

I would very much appreciate your help in the matter,

sincerely,
MOnika Causholli


Will you be filling out mine?

From: Elizabeth Linnell on 06/12/2001 12:53 PM
To: Steven J Kean/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Aleck
Dadson/TOR/ECT@ECT, Michael Terraso/OTS/Enron@ENRON, Marc
Phillips/OTS/Enron@ENRON, Henry Van/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt,
Jeffrey Keeler/Corp/Enron@ENRON, Susan
Worthen/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mark Palmer/Corp/Enron@ENRON,
Dennis Vegas/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Kelly Kimberly@Enron
Communications, Christie Patrick/HOU/ECT@ECT, John
Ambler/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:

Subject: 2002 Budgets - Here we go! with attachment

Sorry!

----- Forwarded by Elizabeth Linnell/NA/Enron on 06/12/2001 12:52 PM -----

	Elizabeth Linnell
	06/12/2001 12:51 PM

		 To: Steven J Kean/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Aleck
Dadson/TOR/ECT@ECT, Michael Terraso/OTS/Enron@ENRON, Marc
Phillips/OTS/Enron@ENRON, Henry Van/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt,
Jeffrey Keeler/Corp/Enron@ENRON, Susan
Worthen/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mark Palmer/Corp/Enron@ENRON,
Dennis Vegas/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Kelly Kimberly@Enron
Communications, Christie Patrick/HOU/ECT@ECT, John
Ambler/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
		 cc:
		 Subject: 2002 Budgets - Here we go!

Here comes the project we've all been waiting for!  Attached below is the
headcount worksheet for the 2002 budget.  This data will be used to determine
benefits amounts/percentages and insurance coverage.  Note that there are
four pages in the workbook to be filled out.

Please return the spreadsheets to me by June 21st.  If you need any help or
have any questions, I'm available at 713-853-3896.

Thanks!


most up to date one - with Molly & Jermey on it
---------------------- Forwarded by Barry Pearce/LON/ECT on 27/04/2000 15:26
---------------------------

Barry Pearce
27/04/2000 15:22
To: Jim Fallon/HOU/ECT@ECT
cc:

Subject:


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 04/02/2001
10:38 AM ---------------------------

	Enron North America Corp.

	From:  Kathie Grabstald                           04/02/2001 09:04 AM

To: Vince J Kaminski/HOU/ECT@ECT
cc: Shirley Crenshaw/HOU/ECT@ECT
Subject: ENSIDE Newsletter

Good Morning!

Thank you for taking time out of a busy Friday to allow our photographer to
shoot some pictures for the ENSIDE.  I will contact you when the proofs are
ready.

I have attached the article draft with revisions by Mike, Osman and Iris.
Please peruse this draft and make any changes or corrections. I need it back
for the layout team by Wednesday evening, April 4, if possible.

Regards,
Kathie Grabstald
EWS Public Relations


Ina:
Did you find out the info on the ENA management committee>
John


What's up bro? Sorry I didn't respond on Friday - I was out and I never
bothered to check my email. Enron is a good reason to move back to Houston -
great company. I'm not heading to Homecoming and I don't think anyone our
age or older is going back. Plus I don't think we are allowed back after 5
year reunion. Which reminds me, where were you? You were missed.

Anyway, here's my numbers:

Work - 201-413-3584
Home - 201-792-4220
Cell - 917-603-7033

Zo

>From: "Smith, Matt" <Matt.Smith@ENRON.com>
>To: <steve_zo@hotmail.com>
>Subject: hey
>Date: Fri, 5 Oct 2001 13:47:17 -0500
>
>Zo,
>
>What's up my brother?  Long time no speak.  I just got your email from
>Scotty P (somehow he found me).  Anyway,  I'd like to give you  a call
>sometime and catch up, so definitely send me your number.  I don't know
>if you knew, but I moved back to Houston again for a job with Enron.
>I've been here over a year now working on the natural gas floor.  Life
>is good, but nothing real exciting to report.  So, I just realized that
>next weekend is homecoming.  Any chance that anyone is going?  I wasn't
>planning on it, but if a bunch of people were going I could still get a
>cheap flight into Ithaca, but I'd have to buy it today.  If you wouldn't
>mind, send me a quick email to let me know if anyone is going....
>
>Well, since I hope to talk to you soon...that's it.
>
>Hope all is well.
>
>Mat
>
>
>**********************************************************************
>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.
>**********************************************************************

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


So if we buy the property before the LLC is owned by ENext the entire project
goes on the balance sheet since we will be committed to building a road and
stormwater system.  There we all must be aware that we can not close on the
property until the LLC is owned by ENext.  Do you agree?

 -----Original Message-----
From:  Mann, Kay
Sent: Wednesday, June 06, 2001 3:58 PM
To: Krause, Greg
Subject: RE: Midway Interconnect Agreement

Put the land on the balance sheet is a forgiveable sin.  Incurring any other
type of  hard costs puts the entire project (whatever that may be) on the
balance sheet.

Kay

From: Greg Krause/ENRON@enronXgate on 06/06/2001 03:53 PM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: RE: Midway Interconnect Agreement

If we buy the property before the LLC is owned by ENext, wouldn't the big
concern be that we've put $1.8 million of land plus an additional $900,000 or
so of obligations to build road and stormwater system on the balance rather
than the rather small ongoing costs related to maintainance of the road and
system?

 -----Original Message-----
From:  Mann, Kay
Sent: Wednesday, June 06, 2001 3:46 PM
To: Krause, Greg
Subject: RE: Midway Interconnect Agreement

As I understand it, if the option is exercised (and the property bought)
prior to the time the LLC is owned by ENext, there is a balance sheet
impact.

From: Greg Krause/ENRON@enronXgate on 06/06/2001 03:01 PM
To: Kay Mann/Corp/Enron@Enron, Ben Jacoby/ENRON@enronXgate
cc:

Subject: RE: Midway Interconnect Agreement

Probable time for them to bless the agreements; however, since these
documents will not be executed until after closing, the obligations created
under the Property Owners Association should not have a balance sheet impact.

 -----Original Message-----
From:  Mann, Kay
Sent: Wednesday, June 06, 2001 12:29 PM
To: Krause, Greg; Jacoby, Ben
Subject: RE: Midway Interconnect Agreement

Greg and Ben,

So is it about time to get Lisa, Herman and Rose involved in the PAD stuff?

Kay

From: Greg Krause/ENRON@enronXgate on 06/06/2001 12:07 PM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: RE: Midway Interconnect Agreement

Kay,

A&K did the title committment work and is now working on the Property
Association Documents (as is Greenberg Traurig in West Palm Beach).  Ann
Elizabeth's
last email message to me before she went on vacation was that A&K was the
designated hitter for the Midway Project.    You have been copied on those
docs which we desparately need to get to Cooney Midway Groves, the property
owner.  As far as I know, they have not been involved in anything else
related to Midway this year.

Christi left me a message saying that Lloyd Will or one of his guys needs to
review the Interconnction Agreement. I do not know Lloyd.

Greg

PS we had a good meeting with DERM on the landfill closure issues in the
Certosa Holdings deal.   I'll try to reach you this afternoon to discuss.

 -----Original Message-----
From:  Mann, Kay
Sent: Wednesday, June 06, 2001 7:45 AM
To: Krause, Greg
Subject: RE: Midway Interconnect Agreement

How much involvement has A & K had on Midway?  I have other counsel engaged
for the sale, but this falls into a different category.

Kay

From: Greg Krause/ENRON@enronXgate on 06/05/2001 11:35 PM
To: Ben Jacoby/ENRON@enronXgate, Kay Mann/Corp/Enron@Enron
cc: Christi L Nicolay/HOU/ECT@ECT

Subject: RE: Midway Interconnect Agreement

Please see attachment below with Christi's comments.

-----Original Message-----
From: Jacoby, Ben
Sent: Tuesday, June 05, 2001 12:22 PM
To: Mann, Kay
Cc: Krause, Greg; Nicolay, Christi
Subject: Midway Interconnect Agreement

Kay:

Greg has Christi's comments on the FPL Construction & Connection Agreement,
and he will be sending us those comments today in a marked document. Have we
engaged outside counsel to review this agreement? I'd like to have a
commercial / legal review fully completed, and then get accounting / finance
to comment. I this something you were planning to have Carlos to work on
given his recent work on ComEd and Ameren?

Please let me know. Thanks.

Attached is the original generic form of FPL Connection and Construction
Agreement for your reference.

Ben

 << File: FPL Construction  Connection Agreement Generic.doc >>


I did not realize we were going to reserve on spreads which create zero net position and almost zero credit risk.   The new forward correlations are 90+% per the var model and it looks like your credit model is still using the old correlations.

 -----Original Message-----
From: 	Bradford, William S.
Sent:	Tuesday, October 09, 2001 7:56 AM
To:	Sacks, Edward; Presto, Kevin M.
Subject:	RE: PG&E Energy Trading - Power, L.P.

Kevin,

I thought we agreed to take these reserves since EOL lacks the pricing capability for longer dated transactions.  If you want we can restrict trading to 36 months on EOL and approve long-dated transactions on a one-off basis to insure our counterparty positions remain somewhat balanced.

Please advise,
Bill

 -----Original Message-----
From: 	Sacks, Edward
Sent:	Monday, October 08, 2001 3:29 PM
To:	Presto, Kevin M.
Cc:	Bradford, William S.
Subject:	RE: PG&E Energy Trading - Power, L.P.

You and I had agreed to the structure below for '04 and '05 transactions.  We are not taking credit reserves to the extent the trades are offsetting.  Since '04 is rolling off shortly, we should review the EOL needs for East Power and again come to agreement on the pricing structure.  Let me know when you would like to do so.

Ed

	Peak				$0.10 for '04 & '05	(vs $0.17 for '05)
	Peak Cal Spreads		$0.06
	Peak Basis			$0.04 (assumed correlation of 95%)
	Off Peak			$0.03
	Off Peak (basis or spreads)	$0

 -----Original Message-----
From: 	Presto, Kevin M.
Sent:	Monday, October 08, 2001 11:46 AM
To:	Sacks, Edward; Hardy, Trey; Evans, Casey; White, Stacey W.; Vinson, Donald Wayne; Sturm, Fletcher J.
Cc:	Bradford, William S.; Ngo, Tracy; Buy, Rick; Rohauer, Tanya; Reasoner, Monica; Brown, Kortney
Subject:	RE: PG&E Energy Trading - Power, L.P.

There should be no credit on a TVA/Cin spread.   The correlation between the 2 markets is 95% plus.

 -----Original Message-----
From: 	Sacks, Edward
Sent:	Monday, October 08, 2001 9:23 AM
To:	Hardy, Trey; Evans, Casey; Presto, Kevin M.; White, Stacey W.; Vinson, Donald Wayne; Sturm, Fletcher J.
Cc:	Bradford, William S.; Ngo, Tracy; Buy, Rick; Rohauer, Tanya; Reasoner, Monica; Brown, Kortney
Subject:	PG&E Energy Trading - Power, L.P.

Please note the following addition to the domestic credit reserve for October 2001:

CP:  PG&E Energy Trading - Power, L.P.
Deal No: 806688 & 806689
EOL No: 1972890 & 1972891
Deal Date:  10/5/2001
Deal Specifics:  Sale / Buy (Basis)
Term:  1/1/2005 thru 12/31/2005
Volume:  50 MW/h Peak
Delivery Points:  Cinergy / Into TVA
Trader:  Fletch Sturm
Credit Reserve Amount:  $8,000 (eight thousand US dollars)

CP:  PG&E Energy Trading - Power, L.P.
Deal No: 806685 & 806686
EOL No: 1972884 & 1972885
Deal Date:  10/5/2001
Deal Specifics:  Sale / Buy (Basis)
Term:  1/1/2004 thru 12/31/2004
Volume:  50 MW/h Peak
Delivery Points:  Cinergy / Into TVA
Trader:  Fletch Sturm
Credit Reserve Amount:  $8,000 (eight thousand US dollars)

Comments or questions, please reply.

Ed Sacks


Jim/Rick/Linda--I have faxed to you a copy of the resolutions that came out
of the Western Governors meeting last Friday.  We were pleased to see that
there was no language endorsing price caps in the documents, nor was there
even a section suggesting that they be studied.  The resolutions included
many of our suggestions (power supply contracts,rate reforms to send more
accurate price signals, demand exchanges, eliminating barriers to distributed
generation, etc)  There was also a specific endosement of construction and
expansion of pipelines and electric transmission.

The Thursday evening keynote by Bennett Johnston was typical old fox
Louisiana style rhetoric saying that even though price caps didn't work,
gee...just this one time, they should be instituted for just the short term
(his client is SoCalEd).  The morning session started off rocky, with way too
much discussion about price caps or cost plus ratemaking being a good idea.
Mid way thru the program Gov Kempthorne affirmatively stated that he did not
agree with price caps and that actually started the discussion back on the
right road.  The Governors met in closed session at noon and then later in
the day, and ultimately there were enough Republican votes to make sure that
price caps were not endorsed.

DOE secretary Abraham was not particularly vocal during his time on the
panel, but did give good anti price cap interviews with the press later. And
good old market man Curt Hebert had some very strong statements against price
caps.  His colleagues Massey and Breathitt were both there, and did not echo
the same sentiments!

Paul and I will be talking in the next few days to plan our next strategy
with this group...it will need some continued hand holding and work.  Please
feel free to call either of us if you would like more specific info.  Please
also forward on to whoever in your group I neglected to copy or would have an
interest..  THANKS to all who helped us get ready for this meeting.


Please come by to sign the certificates.


Thanks
--------------------------
Rick S.

-----Original Message-----
From: Yoho, Lisa <Lisa.Yoho@ENRON.com>
To: Shapiro, Richard <Richard.Shapiro@ENRON.com>
Sent: Mon Oct 22 10:05:09 2001
Subject: RE: Southern comments

something about southern being the most potent of the Neanderthals!!

-----Original Message-----
From: Shapiro, Richard
Sent: Monday, October 22, 2001 10:01 AM
To: Yoho, Lisa
Subject: Re: Southern comments

What was the quote?
--------------------------
Rick S.

-----Original Message-----
From: Yoho, Lisa <Lisa.Yoho@ENRON.com>
To: Shapiro, Richard <Richard.Shapiro@ENRON.com>
Sent: Mon Oct 22 09:57:11 2001
Subject: Southern comments

Rick:  I loved, loved, loved your comments about Southern Company.   Sue and I decided that you must have been feeling empowered by the success of your carrot comments!!!!


David,

Thank you for your comments on the US GTC.

Taking each of your main points in turn:

Section 2(e)(i)(1) - This Section does not preclude us from doing business
with banks or other financial institutions.

As you anticipate, breach of warranty constitutes an Event of Default
entitling termination.

Section 1 - Your main concern appears to focus on the issue of sleeving.  As
you will see, we have included in Section 1 of all GTCs a provision
prohibiting transactions to be entered into by the reference entity itself or
by any of its affiliates.  Any purported transaction of that sort is
automatically void.  We considered carefully (both internally and with
outside counsel) going further than this by including a provision stopping
parties acting in concert with reference entity groups.  We concluded that
such a provision would be inappropriate for two main reasons.  First, as a
practical matter, it is almost impossible to police such a provision and
detect cases of such collusion.  Secondly, if we were to find out about such
collusion, we would be entitled to withhold payment (regardless of any
contractual provision) on the basis that such collusion constitutes fraud.

It is also worth pointing out in this context that sleeving is not an issue
germaine only to credit derivatives trading online.  It is possible in the
existing OTC credit derivatives markets for this kind of activity to be
perpetrated.  You will not find any provisions in existing market
documentation addressing this point - indeed, the new 1999 ISDA Credit
Derivatives Definitions are consistent with this.

I only hope that reference entities do not follow the devious thought
processes set out in your options (a)-(c) (and we will clearly have to keep
an eye on you if you ever decide to pursue a different career!).

It is not "nasty" defining Enron as the "Determination Agent". This accords
with the standard ISDA Master Agreement and, in fact, is less dramatic than
the ISDA insofar as all Enron will be required to do as Determination Agent
is to verify the validity of notices submitted under transactions (in the
context of ISDA, all sorts of complex calculations and subjective evaluations
fall to be made by the "Calculation Agent").

Thanks very much for thinking through the issues on the GTC and reviewing it.

Please let me know if you would like to discuss this further.

Best regards.

Paul Simons

David Forster
18/02/2000 03:14
To: Bryan Seyfried/LON/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Edmund
Cooper/LON/ECT@ECT, Paul Simons/LON/ECT@ECT
cc: Mark Dilworth/LON/ECT@ECT

Subject: Credit GTC

All,

I have looked over the U.S. credit GTC and the long descriptions. I see we
have decided to go with quarterly billing, rather than monthly. Will the
payment/collections cycle cause any heartburn for the back office?

I didn't spot any problems with the long descriptions.

A few relatively minor comments on the GTC's - which you may or may not want
to consider:

- Clause 2.(e) (i) (1) - Does this clause preclude us from doing business
with banks or other financial institutions? Could we append: "with regard to
the Transaction"?

- What happens if a Rep or Warranty is broken? Does that constitute
sufficient breach to terminate the contract? I'm thinking specifically about
sleeving, which is perhaps covered by Clause 2(e)(ii)(1)? I still think that
sleeving is one of the most significant commercial risks faced by online
trading of derivatives. If I were working for a third party, I'd immediately
look for ways to set up a sleeving service to sell credit protection to the
Reference Entities where the Reference Entity or its affiliate views its own
risk differently from Enron. If I were the Reference Entity in question, I'd
consider:
 a) Buying a load of protection via sleeving and then declaring bankruptcy -
then do a Phoenix (in the UK at least)
 b) Buy a load of protection via sleeving, then take the Credit Derivatives
to another third party financial institution and using the credit derivatives
as collateral to increase my line of credit - I'm no expert, but I suspect
there might be an interesting leverage effect here, which might actually
cause a significant increase in Enron's risk exposure.
 c) Like (b), only the financial institution could buy the credit derivative
with or without the need for sleeving - we probably need a restriction on
this? (I know financial institutions are not our preferred counterparts up
front, but if I were a financial insitution, I'd quickly find a way around
this limitation - Affiliates or Sleevers.

-  Do you think it would beneficial to strengthen our protection against
sleeving by adding something to Clause 2, like: "It is not entering into a
Transaction for the purpose of concluding a similar transaction with the
party (or any Affiliate of such party) which is the Reference Entity in the
Transaction".

- Should Def'n of "Contract Currency" be "Contractual Currency"?
("Contractual" is also used in the Long Descriptions)

- Def'n of "Credit Product" - after "Entity", should we insert "which is"?

- Are we being a bit too nasty by defining the Determination Agent as
"Enron"? As the reference to Determination Agent in the contract is in a
context similar to that of an arbitrator, it seems a bit cheeky to then
define ourselves as the arbitrator - would this be enforceable if we were in
court?

I'm assuming the other GTC's are very similar to the U.S. one and I have not
read them.

Dave


Good morning,

Please see the email below from Keoni Almeida.  It is VERY IMPORTANT for Real
Time to keep a log of any dispatches or real-time changes made outside of
ADS.   It is my understanding that a log is being kept.  Volume Management
needs to know how to access the log as there have been several ADS
discrepancies.
Thanks,
Donna

---------------------- Forwarded by Donna Johnson/PDX/ECT on 11/20/2000 08:56
AM ---------------------------

Heather Dunton
11/20/2000 08:38 AM
To: Volume_Management_Portland
cc:

Subject: RE: ADS is down.

---------------------- Forwarded by Heather Dunton/PDX/ECT on 11/20/2000
08:44 AM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Almeida, Keoni" <KAlmeida@caiso.com>
11/20/2000 08:40 AM

To: "Dunton, Heather" <heather.dunton@enron.com>
cc:
Subject: RE: ADS is down.

Hi Heather,  we log dispatches in an electronic logging system called SLIC
(see attached as an example).  This data is transferred into our system.
SCs generally log all RT changes on their side and relay this info to their
settlements folks.  You folks may want to do this also as some of your
disputes are having to do with RT changes that I'm having to pull SLIC logs
and forward to Enron when your folks wouldn't need to bother with a dispute
if you had this logging information on your end.  Hope this helps.

Keoni Almeida
California Independent System Operator
phone: 916/608-7053
pager:  916/814-7352
alpha page:  9169812000.1151268@pagenet.net
e-mail:  <mailto:kalmeida@caiso.com>

-----Original Message-----
From: Heather.Dunton@enron.com [mailto:Heather.Dunton@enron.com]
Sent: Saturday, November 18, 2000 11:05 AM
To: kalmeida@caiso.com
Cc: Volume_Management_Portland@enron.com
Subject: ADS is down.

Keoni - when ADS goes down, how are these phone call dispatch instructions
logged at the ISO?
Also how do market participants verify and agree upon instructed mw values
with no data in the ADS system for these verbal instructions?

Thanks for your help,
Heather
---------------------- Forwarded by Heather Dunton/PDX/ECT on 11/18/2000
11:07 AM ---------------------------

 (Embedded     Enron Capital & Trade Resources Corp.

 image moved

 to file:      From:  CAISO Market Operations - Hour Ahead

 pic20315.pcx)
<IMCEAEX-_O=CAISO_OU=CORPORATE_CN=SYSTEM_CN=MARKETOPSHOURAHEAD@caiso.com>
               11/18/2000 10:18 AM

To:   "Market Status: Hour-Ahead/Real-Time"

<IMCEAEX-_O=CAISO_OU=CORPORATE_CN=DISTRIBUTION+20LISTS_CN=MKTSTATHOURAHEAD@c
aiso.com>,

      "Market Status: Hour-Ahead/Real-Time"

<IMCEAEX-_O=CAISO_OU=CORPORATE_CN=DISTRIBUTION+20LISTS_CN=MKTSTATHOURAHEAD@c
aiso.com>
cc:
Subject:  ADS is down.

ADS is down at this time. The ISO will be calling the dispatch
instructions.
Sent by Market Operations (916) 351-2397.

 - Doc1.doc


Since the last time this report was sent out we have had twelve new options trading companies:

Bank of Montreal
BP Corporation North America Inc.
CMS Marketing, Services and Trading Company
Duke Energy Marketing Limited Partnership
Florida Power & Light Company
OGE Energy Resources, Inc.
PG&E Energy Trading-Gas Corporation
Phibro Inc.
The Chase Manhattan Bank
TXU Energy Trading Company
Enterprise Products Operating L.P.
Empire District Electric Company

On May 15, 2001 we had a high of 72 options transactions in one day, and for the week ending May 18, 2001 we had a record high 165 transactions.
The month of May closed with a high of 535 transactions up from 323 in April and 332 in March. Below is the file with the graphs and details of this data.


Just a reminder about the info session for the Real Time position, scheduled today in Mt. Hood at 11:00am!

If you are interested in this position, please remember to let Amy know by close of business on Monday, April 23rd.

---------------------- Forwarded by Grace Rodriguez/PDX/ECT on 04/19/2001 07:51 AM ---------------------------

Amy FitzPatrick
04/17/2001 08:39 AM
To:	Portland West Desk
cc:
Subject:	Real Time Trading Opportunity!

A position has recently become available in the Real Time Trading group reporting to Bill Williams.  Bill will be holding an information session on Thursday, April 19, 2001 at 11:00 am in Mt Hood for anyone who would like to learn more about this opportunity.  Interested candidates should let Amy FitzPatrick know by close of business on Monday, April 23, 2001.

Real Time Trading
Real Time Trading is responsible for the physical and financial integrity of prescheduled energy transactions.  This includes managing curtailed schedules and preserving Enron's financial rights with non-performing trading counterparties.  The group is required to maintain records and update databases that explain supply or market interruptions in order to minimize customer billing dispute issues.

In addition, Real Time Trading is responsible for the hourly trading of energy in the California ISO and bilateral markets.  Traders are expected to initiate profitable trades while maintaining an acceptable amount of risk exposure to the company.  The group is expected to know all settlements requirements and charges related to each type of trade.  Each trader is capable of interfacing with customers and responding to internal and external billing inquiries.

Real Time is required to administer terms of Service Desk contracts, which may include the selling of excess generation and purchasing energy for customer's load requirement.  Also, each trader is responsible for gathering and reporting information on unit outages, transmission line derations and other information that is useful for all West Desk Trading activity.

Job Duties
?	Confirm purchases and sale of power for Enron Power Marketing
?	Work closely with volume, risk management, and dispute settlement groups
?	Aid in preparation of price and deal reports and assist in the resolution of volume/price discrepancies
?	Interface with service and middle marketing customers to resolve real-time questions and concerns
?	Assist in testing and implementation of FSP and OATI real-time tagging
?	Work closely with information technology and fundamentals group to maintain and develop Real-Time tools and systems

Qualifications
?	Bachelors in Finance, Business, Accounting or related field
?	1 to 2 years of previous power industry experience in WSCC is preferred.
?	Excellent problem solving and communication skills
?	Working knowledge of Excel, Access, Visual Basic and SQL
?	Self motivated
?	Detail oriented


Attached is the 99 Peakers' Weekly TVA Cost Summary and Draw Schedule for
actual expenditures through December 10, 1999.  Please call me with any
questions.

Thanks,
theresa
x58173


Here is the e-mail containing Exhibit H-2.

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Thursday, January 11, 2001 12:02 PM
To: Sheila.Tweed@enron.com; Dale.Rasmussen@enron.com; Thompson, Peter
J.; Alan.Larsen@enron.com
Subject: FW: ENRON - Meeting - Training Scope

Here's what I have on H-2.  Sorry Pete, I thought I had sent it to you
previously.

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 01/11/2001
11:00
AM ---------------------------

lee.johnson@ss.ps.ge.com on 12/21/2000 04:25:08 PM

To:   kay.mann@enron.com
cc:   john.r.ayres@enron.com

Subject:  FW: ENRON - Meeting - Training Scope

I'm forwarding this per my conversion with John Ayres as the Training
insert
H-2

> -----Original Message-----
> From:         Johnson, Lee L (PS, SSEP)
> Sent:         Friday, March 17, 2000 3:50 PM
> To:           'kathleen.clark@enron.com'; 'michael.d.nanny@enron.com'
> Cc:           Davis, David F (PS, SSEP); Kuo, Kathy (PS, SSEP);
> 'chris.booth@enron.com'
> Subject:           FW: ENRON - Meeting - Training Scope
>
>
> Kathy/Mike-
>
> Attached is our latest Training Course agenda.  Since our Engine and
> Packaging businesses are now organized as one, we've combined the
Engine
> Familiarization and Generator Set Operator Training Courses into a
single
> Training Course.  We would envision providing this training at each
> Facility Site.
>
> This outline should be used to replace the language in Exhibit H-2 to
> accurately describe the current course agenda.  We'll discuss the
content
> in detail on Tuesday with Mike, to be sure that nothing is dropped
from
> the Training content.
>
> Thanks,
>
> Lee
>
>
> -----Original Message-----
> From:         Kuo, Kathy (PS, SSEP)
> Sent:         Thursday, March 16, 2000 11:12 AM
> To:           Roy Allice (E-mail)
> Cc:           Johnson, Lee L (PS, SSEP)
> Subject:           ENRON - Meeting - Training Scope
>
> Roy,
>
> 1.  MEETING INFORMATION:
> Who:          Enron, Lee Johnson, Kathy Kuo, Roy Allice
> Where:        Downtown Houston. 3 Allen Center, 333 Clay St., Suite
400
> (sign in).
> When:         1:30 PM - ?  (Lee Johnson to confirm)
>
>
> 2.  Attached is the file David Davis sent to Lee for Enron Training
Scope.
> Note that it is the 5-day Basic Op.
>
>  <<Training LM6000.pdf>>
>
> 3.  Please confirm (per our discussion this morning) that you will be
able
> to attend this meeting.  If not, please let me know if there is
someone
> that can attend in your place.
>
>
> Thanks!
> Kathy
(See attached file: Training LM6000.pdf)

 - Training LM6000.pdf


Please see attached clean and blackline copies of the revised agreement for
your review, per my discussion with Kay yesterday.

 - CLN10.DOC
 - RED10.DOC


Maximize Your In-House  SAP? Resources Contribution!
How?  Visit Nexus Technology at Booth 1200  at SAPPHIRE '01 in Orlando, FL. and Discover Nexus' SupportLine!
SupportLine: The Cost-Effective Remote Support Solution for Your SAP? System.
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Reap the Benefits 12,000 SAP? Users are Currently Enjoying

You have 3 ways you can learn more about SupportLine:
Contact Kathy Swidnicki at 1.800.95.NEXUS or e-mail Kathy@Nexus-tek.com  to schedule your personal meeting while at SAPPHIRE 2001;

Stop by Booth 1200 at SAPPHIRE 2001 for a meeting with Nexus to see how SupportLine can help reduce your SAP Systems Support Costs; or

If you are unable to attend SAPPIHRE, contact Kathy Swidnicki at 1.800.95.NEXUS or e-mail Kathy@nexus-tek.com  to arrange a personal meeting at your facility.

Nexus Technology: Providing Solutions for Your Vital SAP? Systems Needs.
About Nexus Technology, Inc.
Nexus Technology is a certified SAP Services & Hosting Partner, and a proven solutions provider by empowering over 70 referenceable customers to maximize their ROI with their SAP environment.  Nexus advises, develops, and delivers cost-effective solutions and services for implementing, maintaining & enhancing SAP systems.  Nexus' services and solutions include:  1) hosting solutions that guarantee improvements in performance and availability; 2) implementation services for the entire SAP platform including R/3, BW, CRM, APO, Workplace, etc.; 3) enhancement services like upgrades and archiving; 4) professional services to fill in the gaps; and 5) SAP-certified remote application support solutions.  The Nexus SAP certified Client Care Center currently provides Basis, development & functional remote support to over 12,000 SAP users from numerous business verticals.  In summary, Nexus is a true "One-Stop-Shop" for SAP providing all of the services and solutions customers need to get the most out of their SAP environment.  Nexus Technology is a privately held company based in Des Plaines, IL, with offices nationwide and Shanghai, China.
For more information, call 1-800-95-NEXUS or visit us at www.nexus-tek.com
Remember, respond to this message and we will schedule a time to meet with you in Orlando, FL.
Booth 1200!


do we know the categories and nominees?


Start Date: 3/1/01; HourAhead hour: 6;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001030106.txt


Please address
---------------------- Forwarded by Jeffrey A Shankman/HOU/ECT on 01/09/2001
09:10 AM ---------------------------

GWDORSEY@aol.com on 01/07/2001 10:07:21 PM
To: Jeffrey.A.Shankman@enron.com
cc: whalley@enron.com
Subject: Re: fert

John and I have not yet spoken.
I will overnight the financial data to you to arrive before Thursday of this
week.
Kind Regards
George Dorsey
713 302 2047


Mark,
Here is my risk memo for the sale of Pastoria to Calpine.  I also faxed this
to you tonight.  I look forward to our call at 1:30 your time tomorrow.

Regards,
Karen


PCS Nitrogen would like to assign their positions with Enron over to Bank of America.  The structure of the deal would be for B of A to step in between Enron and PCS.  Currently, PCS is out of the money to Enron.  This trade would lower B of A's exposure to Enron.    I would like to give an answer to PCS today.  Could you please review and let me know how we proceed o n this assignment.

Thanks,
Craig
-----Original Message-----
From: ASHill@potashcorp.com [mailto:ASHill@potashcorp.com]
Sent: Tuesday, November 20, 2001 4:06 PM
To: Breslau, Craig
Subject: assignment

Craig,
Attached is a sample assignment agreement sent to us by Bank of America.
It was one they had used with another deal, and has not been customized for
our particular situation.  As I understand Bank of America's verbal intent
is to have Bank of America step in between the obligations of our two
companies.
(See attached file: Assignment-sample doc.doc)
Glad to discuss...Audrea

Audrea S. Hill
Director, Natural Gas Risk Management
847-849-4222 phone
847-849-4694 fax
ashill@worldnet.att.net
(See attached file: Assignment-sample doc.doc)


This in an automated e-mail sent out from the Commissioner.COM
web site.  Do not reply to this e-mail, but instead please visit
your league's site at http://football.commissioner.com/ene

-------------------------------------------------------------

Grigsby / Sturm requests the following transaction:.

  Drop Terry Kirby.
  Add Ahman Green.

-------------------------------------------------------------

To approve this transaction, please go to your web site and
select Transactions, Requests in the Front Office.


FYI.  I haven't read it yet.

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 04/16/2001 06:57
AM ---------------------------

"Wright, Tremaine S." <TremaineWright@paulhastings.com> on 04/13/2001
10:10:10 PM
To: "'chris.booth@enron.com'" <chris.booth@enron.com>, "'kay.mann@enron.com'"
<kay.mann@enron.com>, "'michael.young@northwestern.com'"
<michael.young@northwestern.com>, "'jkeffer@kslaw.com'" <jkeffer@kslaw.com>,
"'mreuter@kslaw.com'" <mreuter@kslaw.com>
cc: "Kahn, Marguerite R." <MargueriteKahn@paulhastings.com>, "DeBerry,
Jeremiah A." <JeremiahDeberry@paulhastings.com>

Subject: Attached Files

We are attaching the following:
1. Revised draft of the Letter Agreement (marked against the drafts of 4/11
and 4/12)
2. ENA Promissory Note (marked against the draft of 4/12)
3. First Amended and Restated LLC Agreement (marked against the draft of
4/12)
4. Escrow Agreement (marked against the draft of 4/12)
5. NorSub Promissory Note (marked against the draft of 4/12)

We have no comments with respect to the Guaranty (other than the request
that the "IN WITNESS WHEREOF" appears with the signature block).

We look forward to discussing the attachments with you on Monday.
 <<Letter Agreement.DOC>>  <<blackline against April 11 draft.DOC>>
<<blackline against April 12 draft.DOC>>  <<blackline E Note.DOC>>
<<E-Note.DOC>>  <<blackline LLC Agreement.DOC>>  <<LLC Agreement.DOC>>
<<Escrow Agreement.DOC>>  <<blackline - Escrow Agreement.DOC>>  <<Promissory
Note.DOC>>  <<blackline - Promissory Note.DOC>>

"paulhastings.com" made the following annotations on 04/13/01 23:10:37
------------------------------------------------------------------------------
NEW E-MAIL ADDRESSES AT PAUL, HASTINGS, JANOFSKY & WALKER LLP

We have changed our e-mail address.  Our new domain name is
paulhastings.com.  In most cases, our address is composed of conventional
first name and last name plus @paulhastings.com.  Here are two examples:
janesmith@paulhastings.com and danjones@paulhastings.com.  If you have any
questions, please contact us at noc@paulhastings.com.

==============================================================================
"The information transmitted is intended only for the person or entity to
which it is addressed and may contain confidential and/or privileged
material. Any review, retransmission, dissemination or other use of, or
taking of any action in reliance upon, this information by persons or
entities other than the intended recipient is prohibited. If you received
this in error, please contact the sender and delete the material from all
computers."

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

 - Letter Agreement.DOC
 - blackline against April 11 draft.DOC
 - blackline against April 12 draft.DOC
 - blackline E Note.DOC
 - E-Note.DOC
 - blackline LLC Agreement.DOC
 - LLC Agreement.DOC
 - Escrow Agreement.DOC
 - blackline - Escrow Agreement.DOC
 - Promissory Note.DOC
 - blackline - Promissory Note.DOC


Forgot the attachment.

----- Forwarded by James D Steffes/NA/Enron on 11/03/2000 01:55 PM -----

	James D Steffes
	11/03/2000 01:55 PM

		 To: Joe Hartsoe/Corp/Enron@ENRON
		 cc: Steven J Kean/NA/Enron@Enron
		 Subject: Steve Kean Issues

Joe --

Include these with your opening language and send to FERC.

Jim


-----Original Message-----
From: 	Oxley, David
Sent:	Friday, August 24, 2001 6:06 PM
To:	Lavorato, John
Subject:	RE: New Building

Bastard!
 -----Original Message-----
From: 	Lavorato, John
Sent:	Friday, August 24, 2001 6:05 PM
To:	Oxley, David
Subject:	RE: New Building

Your Corp now man.  Sorry.

 -----Original Message-----
From: 	Oxley, David
Sent:	Friday, August 24, 2001 5:26 PM
To:	Lavorato, John
Subject:	New Building

I want to sit with Wes and Haedicke. We can move Robert to another floor if need be. Do you have a problem with this?


TCO decided to reverse the penalties Enron incurred in January and February.
The credit is on the TCO's invoice for April.

January = $13,424
February = $13,775

Total Credit = $27,199

TCO Team discussed this penalty situation with TCO's VP, Marsall Lang. TCO
decided that Enron had not abused the system and did not overrun the TFE
(Total Firm Entitlement). YEAH!!!!!!!!!!!!!!!!!!!!!!!!!!!!


See attached

From: Karen Denne/ENRON@enronXgate on 07/12/2001 08:33 PM

To: Jim Fallon/Enron Communications@Enron Communications, Ken Rice/Enron
Communications@Enron Communications

cc: Mark Palmer/ENRON@enronXgate, Steven J Kean/NA/Enron@Enron, Kelly
Kimberly/Enron Communications@Enron Communications

Subject: EBS Article for eBiz

Jim and Ken --

Attached is an article for eBiz (our biweekly online newsletter), which we
are scheduled to launch at 7:30 a.m. Friday.  Kelly Kimberly has reviewed it,
but has asked that you view the article as well.  Since only EBS employees
received your memo about the restructuring -- and the rest of the employees
did not receive any communication -- it is extremely important to provide
information through this vehicle.

Please let me know of your approval or if you have any questions.

Thank you.
Karen
x39757


Ladies and Gentlemen,

Thank you all for participating on the associate and analyst PRC committee.
I believe that the PRC process is the most important tool we have to evaluate
Enron's talent, and your role in the process is critical.  With the all
important year-end PRC quickly approaching, I'd like to spend a little time
with you sharing not only my philosophy on the process, but also talking
about the mechanics of the process.  There will also be time to answer any
questions you may have.

To that end, please join me and Charlene Jackson for breakfast on Thursday,
November 30, at 8:30 a.m. in EB50M.  If you are unable to attend in person
and would like to participate by conference call, that can be arranged.
Please RSVP your attendance to Cheryl Kuehl at x3-9804.

I look forward to seeing you on November 30, and again, many thanks for
spending your time on this critical process.

Jeff


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

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

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

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

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

Thank you for your participation in this important process.

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

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

Employee Name                   Supervisor Name                 Date Selected
-------------                   ---------------                 -------------
LINDBERG, LORRAINE              JESS K HYATT                    Oct 31, 2000
LOHMAN, THERESE K               JESS K HYATT                    Oct 30, 2000


oh. my. gosh.  Freeman is again out to save the world...

Jeff Dasovich@EES
09/12/2000 10:50 PM
To: James D Steffes/HOU/EES@EES, Steven J Kean/NA/Enron@Enron, Richard
Shapiro/HOU/EES@EES, Joe Hartsoe/Corp/Enron@ENRON, Sarah
Novosel/Corp/Enron@ENRON, Mary Hain/HOU/ECT@ECT, Sandra McCubbin/SFO/EES@EES,
Mona L Petrochko/SFO/EES@EES, Susan J Mara/SFO/EES@EES, mpalmer@enron.com,
Karen Denne/Corp/Enron@ENRON
cc:

Subject: DJ Freeman Sees Cal/ISO, PX Merger, Lower Price Cap

I'd say, "What next?", but I'm afraid to ask....
Regarding our California strategy, preventing the merger would seem to be
right up there with "end the price caps" in our list of priorities.  At
today's FERC hearing, a hair-brained consumer advocate called for merging the
PX and the ISO.  During the panel I was on, I made the point that a merger
would make California's problems worse than they are today.  The FERC
Commissioners seemed somewhat responsive to my concerns.
P.S. After the panel, Heber lobbied me hard to support transcos.
DJ Freeman Sees Cal/ISO, PX Merger, Lower Price Cap
Copyright , 2000 Dow Jones & Company, Inc.

By Jason Leopold
     Of DOW JONES NEWSWIRES
     SAN DIEGO (Dow Jones) -- David Freeman, seen a likely replacement for
Marcie Edwards on the board of governors of the California Independent System
Operator, said his first order of business would be to try and merge the ISO
and the California Power Exchange.
     Edwards resigned her post on the ISO Thursday.
     An informal consensus among the board has already approved his
membership.
     Freeman told Dow Jones Newswires that the $250 per megawatthour
wholesale power price cap in California is too high, and that he would like
to see it reduced below $100/MWh.
     "I think my role (on the board) will help the state solve it's serious
generation shortage problem," Freeman said.
     Some market participants said Freeman is expected to run for chair of
the ISO's board of governors, a seat currently held by Jan Smutny-Jones.
     The Los Angeles Department of Water and Power has this summer been able
to sell the ISO power in the real time market, and make a great profit for
itself in return.
     By Jason Leopold (323)658-3874.


Just a reminder - please mark your calendars:

This memo will confirm our dinner meeting to be held June 21, 2000 at the
River Oaks Grill

     DATE    June 21, 2000
     PLACE   Wine Room
         River Oaks Grill
         2630 Westheimer
         713/520-1738
     TIME    6:30 PM

If you have any questions, please do not hesitate to contact Kay (3x0643) or
Beverly (5x7857)

I will look forward to seeing you there.


Spring 2001 Faculty,

The Spring 2001 Course Schedule has been posted to EMBANET.  To access the
Schedule please open the JGSM Area icon on the EMBANET desktop.  Next
please open the Announcement JGSM icon.  You will find the Spring 2001
Course Schedule located under the Subject column.  Please open the
document.  If you do not have access to EMBANET you will need to speak with
David Kilgore at kilgore@rice.edu or by calling David at 713-348-5378.

Thanks,
Kathy

Kathy M. Spradling
MBA Program Coordinator
Jesse H. Jones Graduate School of Management
Rice University
6100 Main Street, MS 531
Houston, Texas  77005-1892
Phone:  (713) 348-3313
Fax:  (713) 348-5251
Email:  spradlin@rice.edu
http://www.rice.edu/jgs
E-mail:  spradlin@rice.edu
http://www.ruf.rice.edu/~jgs/


Kay--attached is the interconnection agreement I had prepared before we got
VEPCO's draft.  Bear in mind it is drafted to be very favorable to the
Facility owner.

 - VEPCOINT.DOC


You're invited to search and register:

Tuesday, March 6

Investinme.enron.com is a new tool to help you manage your professional
development.
It brings together the listings of internal programs, as well as access to a
database of
external programs, on-line courses and materials

Double Click  and select launch.

Web site demonstrations
EB 568 on March 5, from 1-5 PM (every hour), and March 6, from 9-5 (every
hour)

Questions?  Please call the EWS Development Center  X 3-0357.


i was kidding about your friends...besides- i
definately do not have room to talk.
i guess you didn't remember, i have a "wedding" on
saturday?  i have to be in h-town on fri. for the
rehearsal.  sucks. you'll have fun though- do you come
to austin a lot?  next time i'm in houston will
probably be father's day.

i've had just about enough of this place for one day,
so i'm going home now...
have a good day
-cori:)

> my friends are liars.  this past weekend was an
anomaly.  it isn't bad
> to go out and party like a rock star every now and
then.  i will be in
> austin this saturday night, so maybe we can get
together in austin.  we
> will probably be at it pretty hard again.  i have a
friend coming in
> from new orleans so he will want to hit 6th street.
>
> >  -----Original Message-----
> > From: 	ccates@mail.lbjs.com@ENRON
> > [mailto:IMCEANOTES-
ccates+40mail+2Elbjs+2Ecom+40ENRON@ENRON.com]  On
> > Behalf Of Cory Cates <ccates@mail.lbjs.com>
> > Sent:	Tuesday, May 29, 2001 2:35 PM
> > To:	Lenhart, Matthew
> > Subject:	RE:
> >
> > stop making excuses- your friends all said that
you're
> > always very drunk every weekend. ha.
> > i'm back in austin.  i did have fun sat.night- it
was
> > worth driving in for:)
> > i'm about a quart low today; i drove back on sunday
&
> > spent the rest of the weekend on the lake.  i need
to
> > go home.
> > why are you coming up this weekend again?  for some
> > reason, i can't remember.
> > -cori
> >
> >
> >
> >
> >
> >
> > > i remember you.  i was pretty drunk though.
> > hopefully i didn't make too
> > > much of an ass out of myself.  we hit it really
hard
> > that night for my
> > > buddy's birthday.  how was your bachelorette
party?
> > are you back in
> > > austin now?
> > >
> > > >  -----Original Message-----
> > > > From: 	ccates@mail.lbjs.com@ENRON
> > > > [mailto:IMCEANOTES-
> > ccates+40mail+2Elbjs+2Ecom+40ENRON@ENRON.com]  On
> > > > Behalf Of Cory Cates <ccates@mail.lbjs.com>
> > > > Sent:	Tuesday, May 29, 2001 11:56 AM
> > > > To:	Lenhart, Matthew
> > > > Subject:
> > > >
> > > > hi matt....
> > > >
> > > > -cori
> > > > (hopefully you remeber me)
> > >
> >
>


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IssueAlert for  April 4, 2001

Nevada Blocks Sale of Generation Plants;
Re-Regulation Now Likely for State

by Will McNamara
Director, Electric Industry Analysis

[News item from California Energy Markets] Nevada officials rushed through
measures designed to stop the sale of power plants by Sierra Pacific Power
and Nevada Power with a total value estimated at $1.7 billion. The Nevada
Assembly voted to pass Assembly Bill 369, which halts the plant sales and
stops restructuring in the state.

Analysis: For the last several weeks, Nevada officials monitoring the energy
industry in the state have oscillated between assisting the financially
strapped utilities under parent company Sierra Pacific Resources, or
preventing what they fear will be a repeat of the California energy crisis.
The measure taken late last week by the Nevada Assembly is essentially an
attempt to ensure cost-based rates in the state, reduce the potential risk of
summer blackouts and wait out the uncertainty surrounding power supply and
electricity prices in the West. However, the measure does little to alleviate
the financial burden weighing on Nevada's major utility companies, and in
fact raises the possibility for further debts that Sierra Pacific and Nevada
Power may have to carry to comply with several of the measure's related
requirements.

The key provision of Assembly Bill 369 blocks the sale of power plants before
July 1, 2007, although Nevada utilities will be allowed to apply to the
Public Utilities Commission of Nevada (PUCN) for plant sales that include a
state of "substantial financial emergency" after July 1, 2003. The measure
directly impacts a pending sale to AES Corp. of a 14-percent interest (220
MW) in the Mohave Generating Station, located in Laughlin, Nev., that is
presently owned by Nevada Power. AES had agreed to pay $133.5 million for the
14-percent interest in the plant. Under terms of the state's restructuring
legislation, Nevada Power and Sierra Pacific Power were ordered to sell their
power plants to alleviate concerns about market power. Toward that end, the
holding company and its wholly owned utility subsidiaries commenced a public
auction of approximately 2,900 MW of power generation facilities.

Of Sierra Pacific Resources' nine power plants, which are mostly fired by
natural gas and coal, seven had been entered into sales agreements and were
awaiting final approval when this Assembly measure was passed. The PUCN had
actually approved the sale of the Mohave plant last year, representing the
first sales transactions of one of the utilities' plants. However, since the
PUCN granted its approval of the Mohave plant, Nevada officials have grown
increasingly concerned about instability in the Western power markets and the
power supply problems in California.

Tom Hay, chief of the Nevada Attorney General's Bureau of Consumer
Protection, initiated the block against the sale out of concern about power
supply in the state. Specifically, Hay proposed that the Mohave plant should
remain under the control of Nevada Power for the time being because it burns
coal, a low-cost fuel that can be relied upon to stave off blackouts in the
state. In addition, Hay raised the concern that, should the sale of the plant
be approved, the new owner AES could decide to sell the power produced by the
plant outside of the state after a two-year buy back agreement expires in
2003. By keeping the Mohave and other generating plants under the ownership
of Nevada utilities, state officials believe that they can retain regulatory
control over the price of power.

Nevada Governor Kenny Guinn agreed that the plants should not be sold at this
time and said that keeping the plants would protect Nevadans against high
prices on the wholesale power markets. Guinn also expressed his intention to
block restructuring in the state throughout his term as governor, which ends
in 2003. If he is elected for a second term and can see that the markets have
stabilized in the West, Guinn said he would consider allowing competition in
the state sometime after 2003.

For its part, AES says that it will seek legal action to force the sale of
the plant to proceed. AES argues that the Nevada Assembly's measure is not
constitutional and violates the sales contract already approved by the PUCN.
AES also pointed out that the Mohave plant is 30 years old and will require
significant repairs and improvement, an investment that it was willing to
make but one that would cause an unnecessary financial burden on Nevada
Power.

Moreover, the negative financial impact that the Nevada Assembly's measure
might cause is a major point of contention for Nevada Power and Sierra
Pacific (along with the two Assembly members who voted against the measure).
A spokesperson for the utilities said pending sales of power plants would
provide the two companies with about $1 billion in cash, which "would go a
long way to help us buy fuel and purchase power." As I discussed in my 3/8/01
IssueAlert the utilities' parent company Sierra Pacific Resources continues
to struggle financially, so much so that a pending acquisition of Portland
General has now been scrapped. Sierra Pacific Resources reported a
significant fourth-quarter loss ($18.2 million) as a result of soaring costs
of power in the western United States. The company incurred losses as a
direct result of "the growing and unrecovered cost of purchased power in the
volatile wholesale market." The company attributed the latest quarter's loss
to nearly $258 million of unanticipated fuel and purchased power costs.
Although the Nevada Assembly's measure passed with a 9-2 vote, one assembly
member recognized the fact that if "we weaken [the utilities] to the point
where they can't borrow to purchase fuel, we won't have power." Consequently,
the state could still find itself with a compromised power supply, despite
its efforts to retain state control over existing power plants.

Additional financial burden could be placed on Nevada Power and Sierra
Pacific as a result of other requirements that are included in related
Assembly measures. For instance, AB 418 calls for gradually increasing the
amount of green power used by the utilities to 15 percent (from its current
0.2 percent). The bill allows for the PUCN to fine the utilities $10,000 a
day or a total of $3 million for failing to buy the required amount of
renewable energy. Although a representative of Sierra Pacific Resources said
that the company supports the use of renewable power, the Assembly measure's
requirement was considered "so much, so quick, so fast."

The block on the power sales and indefinite delay in the start of competition
essentially returns Nevada to a re-regulated state. This is another example
of the continuing fallout that has resulted from the California energy
crisis, especially among neighboring states in the West. As another example,
New Mexico recently decided to also delay the start of competition until
2007. Western states, which in one way or another have felt the direct impact
of the power crunch in California, have become more cautious about
deregulation and seemingly are in no hurry to open their markets to
competition (despite the fact that deregulation proceeds in other areas of
the country).

However, unlike California, where the state government now has an active role
in purchasing power and may take over the utilities' transmission assets,
Nevada Gov. Guinn has expressed no interest in having the state or local
governments take over the jobs of electric utility companies. Rather, Guinn
merely wants to retain the control that the state traditionally has had over
setting utility cost-based rates, an authority that would become diluted if
out-of-state power companies own generation assets located in Nevada.
Further, Guinn wants to return to deferred energy rates (also known as
fuel-adjustment clauses), in which a utility is allowed to seek
dollar-for-dollar adjustments in rates to recover costs associated with
purchasing power on the wholesale market. As opposed to monthly rate
increases, Guinn believes that an annual rate increase*which Nevada Power and
Sierra Pacific would have to request and justify*would "smooth out the ups
and downs of power and fuel costs over the year." In addition, Guinn believes
that the combination of state regulation and cost-based rates offers a better
strategy for the state than attempting retail competition at this time. To
supplement power supply, Guinn believes that Nevada should promote the use of
merchant plants rather than relying on the incumbent utilities to build
additional generation.

Moreover, the Nevada Assembly measure brings competition in the state to a
screeching halt (at least for the next few years). However, the larger issue
at hand presently is the precarious financial state of Sierra Pacific
Resources and its utilities. Without the cash that would have been gained
from the sales of its power plants, it is unclear how Sierra Pacific
Resources will be able to pull itself out of debt. The utility already
received an emergency rate increase last month, so any attempt to secure
additional increases would surely be politically unpopular. Gov. Guinn's
proposal regarding deferred energy rates may provide a mechanism to bring
Sierra Pacific's rates more in line with its costs, but most likely such a
rate increase would take effect only once a year. Meanwhile, Sierra Pacific
must still procure some power on the wholesale market, where prices remain
high (a situation that could get ever worse this summer if warm temperatures
drive up demand). Thus, ironically, as much as state officials have tried to
avoid the energy crisis found in its western neighbor, Nevada is increasingly
exhibiting some of the same fundamental problems found in California.

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Copyright 2001. SCIENTECH, Inc. All rights  reserved.


Thanks!

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


Jeff:
Who on the commercial side is deciding who the CA would be?  As I explained
to Nora yesterday, I think that the Enron CA should the Enron entity whose
commercial people will be in charge of this deal after it is closed.  As far
as 2(c) is concerned, would this require us to hand over confidential
information?    Is Section 3 the business deal if someone other than Enron is
the CA?  With respect to Section 7, in Section 7(a) shouldn't the term "Event
of Default" be tied to the Events of Default in the Swap Assignment?  With
respect to Sections 7(b) and (c), I just want to make sure that everyone is
okay with the events that could lead to the removal of Enron as the CA since
I would think that this is something that we would not want to happen.  For
example, 7(b)(ii) seems to be a trigger that could accidentally happen and
the removal of Enron as the CA seems to be a harsh penalty.  I'll defer on
this to whatever you and the commercial folks want to do.

Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)

	"Eldredge, Jeff" <jeldredge@velaw.com>
	06/14/2000 04:20 AM

		 To: "St. Clair, Carol (Enron)" <carol.st.clair@enron.com>
		 cc:
		 Subject: RE: Calculation Agency Agreement

 An Enron entity will be Calculation Agent.  Do you have concerns
about Sections 2(c) and 7?  The latest draft is the June 9 draft, but we are
still commenting on it.

Jeffrey E. Eldredge
Vinson & Elkins L.L.P.
Regis House
45 King William Street
London EC4R  9AN
Office Tel: (44-171) 618-6013
Fax: (44-171) 618-6001
Mobile Tel: (44) 0411 435 486

-----Original Message-----
From: Carol St Clair [mailto:Carol.St.Clair@enron.com]
Sent: 14 June 2000 00:06
To: jeldredge@velaw.com
Cc: Mark Evans; Michael R Brown; Nora Dobin
Subject: Calculation Agency Agreement

Jeff:
Has there been any discussion on our side with who the Calculation Agent
would
be?  Normally, it is one of the swap counterparties.  Is this a role that
Enron
Corp. can and should perform?  With respect to the Agreement, I am looking
at a
June 2nd draft and was wondering if anyone has focused on the language in
Section 2, and in particular, Section 2(c)  and Section 7.

Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)


The proposal is totally satisfactory to Ken Lay.

Rosalee

"Holloway, Wanda" <Wanda.Holloway@COMPAQ.com> on 04/19/2001 01:44:06 PM
To: "'klay@enron.com'" <klay@enron.com>, "'lynnj@iname.com'" <lynnj@iname.com>
cc: "'babbio@verizon.com'" <babbio@verizon.com>, "Jackson, Yvonne"
<Yvonne.Jackson@COMPAQ.com>
Subject: CONFIDENTIAL:  HR Committee Approval Requested for Option Grant

In light of Jesse Greene's acceptance of the SVP, Strategy position, we have
re-examined his option opportunity for 2001.  As you recall, we deferred a
decision on his option grant in December 2000 pending a decision on his
status.

Now that Jesse has accepted this new role, we are recommending a grant of
125,000 stock options, which is comparable to the December 2000 grant to
other 16b officers in staff positions.  As a point of reference, below are
the option grants made to 16b officers in December 2000:

Blackmore - 375k
Winkler - 350k
Larson - 275k
McDowell - 250k
Elias - 150k
Jackson - 175k
Siekman - 155k
Napier - 155k
Fox - 125k
Milton - 100k
Clarke - 75k (received additional grant of 175k options upon appointment to
CFO)
Walker - 60k (received 250k new hire options in September)
Robison - 0 (recently received new hire grant)

If you have any questions or concerns about this proposal, please let Yvonne
or I know.  If it is acceptable, please advise and we will provide a
unanimous consent for your signature to formalize.  Thank you!

Wanda G. Holloway
Associate General Counsel - Human Resources
Compaq Computer Corporation
MS110701
20555 SH 249
Houston, TX  77070-2698
281-518-6943 (phone)/281-518-7644 (fax)


Hi Jo,

I left you a voice mail, but being an email addict I thought I would send you
a note as well.

Our son, Michael is in a Montessori kindergarten, which we have decided may
not be most suitable for him.  We discussed it with Vivian Shudde, and she
suggested that I give you a call about the Grace School.

My husband and I would like to visit Grace.  We are wondering if it might be
possible to visit tomorrow.  Please let me know what you think.

Thanks,

Kay Mann


Guys, as a follow up to our meeting today, I thought I would put together a
list of deliverables agreed to in the meeting.  The goal would be to have a
definitive strategy for HPL and storage assets by the end of July that could
be acted upon.

 a) Elimination of the Entex contract - current value - John L.;
 b) Storage value algorithm incorporating spread values, increasing intra-day
and monthly volatility and blowdown values - Jean M, John L, Jim S.;
 c) Storage acquisition targets and issues surrounding value/execution - top
5 to 10 for blowdown and tarantula strategy - Jean M, Julie G.;
 d) Structure, value, cost and issues surrounding Bammel "header" - Jean M.;
 e) Project Torque - definitive balance sheet, income statement and
contribution margin statement for HPL - Wes C.;
 f) Establish viability of selling HPL assets - small private placement -
working with Lehman to finalize value, exection risk, timing, structure et al
- Patrick   W.

 I would like this group to get back together in the fourth week of July to
determine a final action plan.

Regards
Delainey


Please print attachment and send copies to Richard Sanders, Mark Haedicke and
Bob Madden. Thanks
----- Forwarded by Elizabeth Sager/HOU/ECT on 05/24/2000 09:18 AM -----

	Christi L Nicolay
	05/19/2000 04:07 PM

		 To: Sarah Novosel/Corp/Enron@Enron, dwatkiss@bracepatt.com,
sbuchheit@bracepatt.com, Elizabeth Sager/HOU/ECT@ECT, Richard B
Sanders/HOU/ECT@ECT
		 cc:
		 Subject: MAIN Policy Interpretation Request

NERC told MAIN to let us do what it told TVA to let us do!
---------------------- Forwarded by Christi L Nicolay/HOU/ECT on 05/19/2000
04:02 PM ---------------------------

Richard Ingersoll
05/19/2000 03:53 PM
To: Christi L Nicolay/HOU/ECT@ECT, Richard Shapiro/HOU/EES@EES, Dave
Mangskau/Corp/Enron@Enron, Steven J Kean/HOU/EES@EES, Joe
Hartsoe/Corp/Enron@Enron
cc:
Subject: MAIN Policy Interpretation Request

Look good at this stage.
---------------------- Forwarded by Richard Ingersoll/HOU/ECT on 05/19/2000
03:49 PM ---------------------------

Barbara Bogenrief <barbara@nerc.com> on 05/19/2000 03:36:16 PM
To: roger_c_harszy@ameren.com
cc: hlt@maininc.org, ringers@enron.com, directors@nerc.com, pitf@nerc.com
Subject: MAIN Policy Interpretation Request

TO: Roger C. Harszy
 Harry L. Terhune
 Richard Ingersoll
 NERC Directors
 Policy Interpretation Task Force

Letter attached regarding NERC's response to MAIN's request for a Policy
interpretation.

If you have any questions, please contact Gordon Scott, Don Benjamin, or
David Cook.

Thank you.

Barbara S. Bogenrief
Secretary-Operations
 - Letter - MAIN-Enron - NERC Response - May 19, 2000.pdf


Great Lakes representative, Martin Wilde, is stopping by tomorrow @ 3:00.  I have set up this time to discuss with him his operations and present to him any questions we have.  Please let me know if you can attend.
Thanks


I say keep pushing for an answer.  It will come when it comes, but, in my
opinion, he who pushes his issues the best tends to get closer to what he
wants.

I am hoping we can both do better in both the short term with the tools we
have (working through Sheila Howard/ISC) AND come up with something even
better in the longer run (Project Sunrise).  I would push Sheila, the ISC
will do what it can to the best of our ability (and I am hopeful there are
still some things we can do without the DW to get you closer), and she and I
can push Mark to the extent the ISC can't solve it completely.

Rod Hayslett

12/06/2000 04:18 PM
To: Melissa Becker/Corp/Enron@ENRON
cc: James Saunders/FGT/Enron@ENRON

Subject: Re: FERC Data Warehouse

Do you think it better that I wait and see what comes of this, or because I
have a singular need that I cause a small group to come togehter and focus on
this?     The fact that there is no solution is the issue and no solution
merely means I have to find one, since I don't have the option of saying it's
too hard or the system can't do it.    On the other hand I'm sure I don't
know all the answers so I'm not sure of what the right process even is.

Mark Frank@ECT
12/04/2000 02:21 PM
To: Rod Hayslett/FGT/Enron@ENRON, James Saunders/FGT/Enron@ENRON, Melissa
Becker/Corp/Enron@ENRON, David McEllin/FGT/Enron@ENRON, Ozlem
Mahmood/HOU/EES@EES, Sheila Howard/Corp/Enron@ENRON
cc:

Subject: Re: FERC Data Warehouse

To all:

Hope this clarifies--

We are currently collating needs data from our interview cycle.
Preliminarily, the interviews confirm our suspicions:
 1. Cost & P/L reporting is the most widely held concern.
 2. Cash flow reporting (treasury, direct & indirect) follows closely.
 3.  There is no easy, readily available solution to FERC reporting.
 4. People have lost ad hoc query functionality with the implementation of
SAP.

Project Sunrise's reporting charter will be to address these needs in the
most efficient, cost effective way possible.
That could be through a data warehouse, could be through the FERC SAP module,
could be through another avenue.
None of us has the answer to the methodology question yet (although we all
have ideas).

I would prefer to keep the Project Sunrise team focused on the task at hand
-- sifting through the interview information and developing a work plan.
We have followup interviews to schedule & complete, a data model to build,
etc. Basically a lot of work on our plates.

However, FERC reporting is clearly a significant need that will be at the
forefront of any reporting solution.
If our goal is to discuss this need in detail tomorrow, I'm all for it! I
need the education.
If our goal is to look at progress towards a solution, we should look to
postpone.
I take responsibility for distracting efforts in progress, but believe the
delay worthwhile.

One final issue: Sean, the Sensecorp consultant who has been working on the
project, is in California.
We may want to wait on his participation.

I believe we are all on the same page.
mhf
---------------------- Forwarded by Mark Frank/HOU/ECT on 12/04/2000 02:04 PM
---------------------------

Ozlem Mahmood@EES
12/04/2000 01:16 PM
To: Mark Frank/HOU/ECT@ECT
cc:
Subject: Re: FERC Data Warehouse

FYI:
---------------------- Forwarded by Ozlem Mahmood/HOU/EES on 12/04/2000 01:14
PM ---------------------------

Melissa Becker@ENRON
12/04/2000 11:16 AM
To: David McEllin/FGT/Enron@ENRON
cc: Ozlem Mahmood/HOU/EES@EES, Sheila Howard/Corp/Enron@ENRON
Subject: Re: FERC Data Warehouse

Why wouldn't we?  ETS has a specific gap that needs to be addressed, and we
need to find the best way to fix it.  I would just be sure not to jump to the
DW as the solution, unless the ISC has been given ample opportunity to
propose a solution.  Be sure to go that route, too!

David McEllin
12/01/2000 05:37 PM
To: Melissa Becker/Corp/Enron@ENRON
cc: Ozlem Mahmood/HOU/EES@EES

Subject: Re: FERC Data Warehouse

Will we be proceeding with the Dec 5 meeting? If so, Ozlem could you get
notice out to the original distribution list concerning time and location. I
will be out of the office on Monday, so I would appreciate your assistance in
coordinating the meeting logistics. Thanks.

---------------------- Forwarded by David McEllin/FGT/Enron on 12/01/2000
05:35 PM ---------------------------

David McEllin
11/30/2000 04:56 PM
To: Melissa Becker/Corp/Enron@ENRON
cc: Rod Hayslett/FGT/Enron@ENRON, James Saunders/FGT/Enron@ENRON, Sheila
Howard/Corp/Enron@ENRON, Mark Frank/HOU/ECT@ECT

Subject: Re: FERC Data Warehouse

I feel we should proceed with the Dec 5 meeting, at least to get a better
understanding of what the data warehouse can do for us related to FERC, and
maybe determine just how far along it currently is.  The original reason we
were asked to meet on this issue is that it was thought that a lot of work
had already been completed and it wouldn't take much to deliver an end
product. The other attendees, as well as myself, need to understand what this
can do for us as opposed to a potential solution in SAP.

Melissa Becker
11/30/2000 04:28 PM
To: Rod Hayslett/FGT/Enron@ENRON, James Saunders/FGT/Enron@ENRON
cc: Sheila Howard/Corp/Enron@ENRON, Mark Frank/HOU/ECT@ECT, David
McEllin/FGT/Enron@ENRON

Subject: Re: FERC Data Warehouse

I am not sure the statement below from Ozlem is entirely accurate.  In
addtion to Project Sunrise, I have asked Sheila Howard, who is the lead for
the financial team in the ISC, to work with the Project Sunrise team to
understand what your issues are and help determine a solution.

Let me assure you that whether through the Project Sunrise or the ISC, we are
working on your issue and it has NOT dropped off the radar screen.  As a
matter of fact, Project Sunrise had a status meeting today, and this came up
several times.  I think the only question is "what's the best approach for
solving it"?

I will leave it to Dave, as the ETS representative to Project Sunrise, along
with Sheila, Mark, and the others listed below, to continue to work on a
solution for the FERC problems.  Dave  - is there any reason NOT to proceed
with the December 5 meeting under these assumptions?  I would just ask that
Sheila be included.

Thanks!

Rod Hayslett

11/30/2000 06:18 AM
To: Melissa Becker/Corp/Enron@ENRON
cc:

Subject: Re: FERC Data Warehouse

If there is going to be no effort to fix my problem as a result  of the
change in the effort, I am wondering why I should support the project at all?

---------------------- Forwarded by Rod Hayslett/FGT/Enron on 11/30/2000
06:19 AM ---------------------------

James Saunders
11/29/2000 07:54 PM
To: Bob Chandler/ET&S/Enron@ENRON, Jennifer Lev/FGT/Enron@ENRON, Debbie
Thompson/FGT/Enron@ENRON, John Cobb/FGT/Enron@ENRON
cc: David McEllin/FGT/Enron@ENRON, Rod Hayslett/FGT/Enron@ENRON

Subject: Re: FERC Data Warehouse

Do we have any current Form 2 or other FERC related reporting
requirements/concerns as a result of the "redirection" below?

---------------------- Forwarded by James Saunders/FGT/Enron on 11/29/2000
07:54 PM ---------------------------

Ozlem Mahmood@EES
11/29/2000 05:47 PM
To: David McEllin/FGT/Enron@ENRON
cc: Jennifer Lev/FGT/Enron@ENRON, Debbie Thompson/FGT/Enron@ENRON, Harry
Walters/ET&S/Enron@ENRON, Hoyt Ivey/ET&S/Enron@ENRON, Bob
Chandler/ET&S/Enron@ENRON, James Saunders/FGT/Enron@ENRON

Subject: Re: FERC Data Warehouse

Dear FERC-interested representatives,

Due to the current redirection of the data warehouse project (which is now
part of Project Sunrise), it has been determined that it is best to postpone
a FERC discussion/analysis until after the  collection of business
requirements and final scoping of the project.    However, I will be
recommending that a focus group be designated for FERC.  Thank you for your
help and patience and I apologize for the upheaval and postponements.

Tzlem

David McEllin@ENRON
11/28/2000 04:35 PM
To: Jennifer Lev/FGT/Enron@ENRON, Debbie Thompson/FGT/Enron@ENRON, Harry
Walters/ET&S/Enron@ENRON, Hoyt Ivey/ET&S/Enron@ENRON, Bob
Chandler/ET&S/Enron@ENRON
cc: Ozlem Mahmood/HOU/EES@EES, James Saunders/FGT/Enron@ENRON
Subject: FERC Data Warehouse

The review by ETS of the FERC data warehouse information will be on Tuesday
December 5th at 10:00am, location TBA. This initial review should last approx
one hour and your input would be greatly appreciated. I will inform you of
the location when this is established. Please feel free to contact me if you
have any questions.


Over the last several years, we've received numerous questions and candid
comments from many of you on a wide range of topics during our eSpeak
sessions and through the Office of the Chairman online mailbox and
voicemail.  While eSpeak is an open, informal chat between employees and
management, the Office of the Chairman online mailbox and voicemail box are
designed as confidential upward feedback tools for employees who choose
anonymity.  We are pleased that many of you have openly expressed your
thoughts and your identity, which made it possible for us to quickly respond
to your questions and concerns.  This is the kind of work environment we all
must strive for at Enron, and we encourage you to continue sending us
comments about the things that are important to you.

Many times, however, we wanted to respond to those of you who contacted us
anonymously with your good ideas, observations and questions.  We now have a
way to do this while maintaining your confidentiality.  In the future, when
we receive an anonymous question or comment from an employee, both the
question and our response will be posted on eMeet.  This will allow us to
answer all the questions that we receive, and it will give other employees an
opportunity to provide their insight, if they choose to do so, since eMeet is
an open discussion board.

Remember:  You can send your questions and comments to us in two ways:
 - email to Office of the Chairman, or
 - Office of the Chairman voicemail box at 713-853-7294, which is a
confidential call

Promoting open and honest communication is consistent with our Vision and
Values and absolutely vital to our continued success as a company.  So don't
be hesitant or afraid to speak your mind.  We want to hear from you.


-----Original Message-----
From: Bushman, Teresa G.
Sent: Tuesday, November 27, 2001 5:39 PM
To: Cook, Mary; Corbet, Nancy; Davis, Angela; Gray, Barbara N.; Koehler, Anne C.; Mann, Kay; Murray, Julia; Quick, Joan
Subject: A little humor

-----Original Message-----
From: Rasmussen, Dale
Sent: Tuesday, November 27, 2001 5:35 PM
To: Bushman, Teresa G.
Subject: FW:

Subject:  Sad news
>I don't usually pass on news like this, but sometimes we need to pause and remember what life's all about.
>
>There has been a great loss recently in the entertainment world.  The wonderful Larry LaPrise, the man who wrote the "Hokey Pokey", died last week aged 83.
>
>The most traumatic part for the family was getting him in the coffin.
>They put his left leg in - and things just started to go chaotic from thereon ...


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Julie --

Given our current situation at Enron, I wanted to let you know that we will not be able to support the SE RTO Study.  I assume that you were already thinking this.  This upcoming week should prove to be another amazing ride.

As soon as we come up for air, I'll call and fill you in on the developments.

Thanks,

Jim


Friends:

The attachment is an invitation to the initial reception for Young
Professionals for Aspiring Youth, which is a new group that I'm helping
organize.  Aspiring Youth is an after school mentoring program for middle
school kids.  More information on Aspiring Youth is at  www.aspiringyouth.org.

The reception itself should be great.  Its at the Devin Borden Hiram Butler
Art Gallery,  which is really fantastic.

Hope you can be there.

Please fell free to pass this on to whomever you think might be interested.

Jim

 - YpayEvent4-17.doc

Additional Information about YPAY:

Aspiring Youth is a locally-founded 501(c)(3)
nonprofit organization that operates innovative programs for at-risk youth,
such as Aspiring Youth? After-School Programs, the Take A Student To your
Employment (TASTE?) Program, College for a Day Program and the "Positive
Youth Development" TV show. More than 500 students from nine Houston-area
middle schools will participate during the 2000-2001 school year.  For
additional information, please see Aspiring Youth's website at
www.aspiringyouth.org

The goal of YPAY is to involve Houston's young professional community in
these fabulous programs and demonstrate by word and deed what it takes to
be successful in the professional world.  Many of the children that attend
Aspiring Youth's programs have never met or seen a doctor, lawyer,
accountant, banker or engineer or have any conception of what it is like to
work in professional atmosphere.  Your participation in YPAY will provide
these youth aspiring to such jobs with badly needed positive role models
and better acquaint them for the challenges and effort required to achieve
success in the professional world.  In the process, you just might meet
some interesting people and have a good time.  A proposed mission statement
is attached below.

At present, we envision that YPAY will not only contribute volunteers to
Aspiring Youth's programs, but also have periodic social events and
establish a quarterly speakers series.


Take a look at this one.  I believe this is what ya'll want to see.

Shanna


Due to the Easter holiday, Dynegydirect will not be available on Friday,
April 13.  Dynegydirect will resume normal trading hours on Monday, April
16.

DYNEGYdirect e- care
Customer Support
Dynegy, Inc.
Ph: (877) 396.3493   Fx: (877) 396.3492
Email: ecare@dynegydirect.com


Dear Mr.Vince Kaminski,

It was very nice to see you in my interview. Thank you
very much for your time and questions. Through my
interview process, I got to know Enron better and saw
many excited things. I think my experience and skill
would be a good fit for Enron and be able to make
contribution with all my exposures. Thanks again for
your attention.

Best wishes

Weidong Tian

__________________________________________________
Do You Yahoo!?
Get personalized email addresses from Yahoo! Mail - only $35
a year!  http://personal.mail.yahoo.com/


We are approaching the final countdown as to signing our definitive agreement
with El Paso regarding the sale of JEDI II's 51% interest in East Coast Power
and ENA's $157.9mm of ECP Subordinated Notes.

The transaction has continued to develop along the lines of my last update of
11-21-00.  The terms and economics remain essentially as outlined on
11-21-00.  In summary, the primary form of consideration will be a
derivative-like commodity agreement or a 'contract for differences'.  This
contract will be exchanged in full for the SubNotes and the majority of our
equity interest.  The JEDI II equity interest will also receive a residual
contingent interest which will become payable in the event of a PPA
restructuring at the Linden facility.  We are calling the derivative a swap
but it is more like a receivable.  An El Paso affiliate (guaranteed by El
Paso as parent) will notionally be paying NYMEX plus approx $0.52
(escalating) over seven years on a notional volume of 300,000 MMBtu/d and
receiving NYMEX.  With netting the contract is simply a series of fixed
quarterly payments over seven years.  No offset rights and no limitations on
the guarantee - fully a stand alone agreement.

We are optimistic that we may be able to sign documents as early as Thursday
night.  This agreement can be terminated at our option in the event that we
do not receive the necessary internal approvals.  There are only two
significant external approvals required, a NJ Environmental
'non-applicability' determination and ECP credit ratings reaffirmation.
Accordingly we expect at this time to receive the necessary internal and
external approvals and close by year end.  We expect that a public
announcement would be appropriate at the time both parties have received all
necessary internal approvals.

The portion of the commodity contract being exchanged for the SubNotes is
expected to be offered to Condor to monetize this portion of the contract at
year end.  Subsequent to Condor's acquisition of its contract, both JEDI II's
contract and the Condor contract are expected to be monetized in a QSPE
vehicle later in the first quarter.

Please call or email with any questions you may have.  Thanks for your
assistance in these matters.


Rain,

Please forward to the traders.

thanks
---------------------- Forwarded by Hunter S Shively/HOU/ECT on 09/28/2000
05:24 PM ---------------------------
From: Mark E Haedicke on 09/27/2000 05:17 PM
Sent by: Janette Elbertson
To: Tim Belden/HOU/ECT@ECT, Kevin M Presto/HOU/ECT@ECT, John
Arnold/HOU/ECT@ECT, Scott Neal/HOU/ECT@ECT, Hunter S Shively/HOU/ECT@ECT,
Phillip K Allen/HOU/ECT@ECT, Janet R Dietrich/HOU/ECT@ECT, Christopher F
Calger/PDX/ECT@ECT, W David Duran/HOU/ECT@ECT, Raymond Bowen/HOU/ECT@ECT,
Jeff Donahue/HOU/ECT@ECT, Brian Redmond/HOU/ECT@ECT, C John
Thompson/Corp/Enron@ENRON, Scott Josey/Corp/Enron@ENRON, Rob
Milnthorp/CAL/ECT@ECT, Max Yzaguirre/NA/Enron@ENRON, Beth
Perlman/HOU/ECT@ECT, Wes Colwell/HOU/ECT@ECT, Sally Beck/HOU/ECT@ECT, David
Oxley/HOU/ECT@ECT, Joseph Deffner/HOU/ECT@ECT, Jordan Mintz/HOU/ECT@ECT,
Jeffrey A Shankman/HOU/ECT@ECT, Philippe A Bibi/HOU/ECT@ECT, Greg
Wolfe/HOU/ECT@ECT, Fred Lagrasta/HOU/ECT@ECT, Edward D Baughman/HOU/ECT@ECT,
Bob Crane/HOU/ECT@ECT, Robert Knight/HOU/ECT@ECT, Colleen Sullivan/HOU/ECT@ECT
cc: Mollie Gustafson/PDX/ECT@ECT, Felicia Doan/HOU/ECT@ECT, Ina
Rangel/HOU/ECT@ECT, Kimberly Brown/HOU/ECT@ECT, Airam Arteaga/HOU/ECT@ECT,
Christy Chapman/HOU/ECT@ECT, Tina Rode/HOU/ECT@ECT, Marsha
Schiller/HOU/ECT@ECT, Lillian Carroll/HOU/ECT@ECT, Tonai
Lehr/Corp/Enron@ENRON, Nicole Mayer/HOU/ECT@ECT, Darlene C
Forsyth/HOU/ECT@ECT, Angela McCulloch/CAL/ECT@ECT, Jennifer
Burns/HOU/ECT@ECT, Pilar Cerezo/NA/Enron@ENRON, Cherylene R
Westbrook/HOU/ECT@ECT, Shirley Tijerina/Corp/Enron@ENRON, Nicki
Daw/NA/Enron@Enron, Kimberly Hillis/HOU/ECT@ect, Patti Thompson/HOU/ECT@ECT,
Tammy R Shepperd/HOU/ECT@ECT, Debra Davidson/PDX/ECT@ECT, Peggy
McCurley/HOU/ECT@ECT, Jewell Wade/NA/Enron@Enron, Debra Davidson/PDX/ECT@ECT,
Becky Young/NA/Enron@Enron
Subject: Retention Policy on Trading Tapes

Effective October 15, 2000, the retention period on tape recordings of trades
done by telephone will be reduced from four months to one month.  The tapes
regarding significant transactions may be retained for such longer period as
approved in writing by both the Head Trader and the General Counsel.  Please
propose those significant transactions on which you may wish to retain the
tapes, prior to October 15, 2000, since the tapes on conversations older than
one month (except with respect to litigation matters) will be destroyed on
that date.  If you have any questions, please contact Mark Haedicke or
Richard Sanders.

John Lavorato and Mark Haedicke


John-

Late October, Enron announced a change in the administrator for the Enron Savings Plan (our 401(k)s) and locked us out from making any changes in our asset allocations or contribution rules until November 20. This has generated an awful lot of resentment and deep conspiracy theories. Can you ask the Board to offer a remedy to those affected by this?

Clayton Vernon
Manager, East Power Fundamentals


You might be right.  Apologies if that's what happened.