Gary Peng
	 01/14/2000 09:11 AM

       Christopher Herbold/AA#'Corp/Enron@Enron, Lisa Stein/AA/Corp/Enron@Enron

Subject:

4Q99EARNINGS xl

									      GOVERNMENT
										 EXHIBIT
										  28709
										Cm No. H 04-0025

To:
cc:

I



			   ENRON CORP.
		      Table I - Earnings Summary
		    (Unaudited: in milliions except per share data)

						  Quarter Ended
						  December 31,
					       1999        1998

									       Year Ended
									      December 31,
									    1999       1998

Revenues

Transportation and Distribution:
 Gas Pipeline Group                                      $      181  $      170
 Portland General                                               377         327
Wholesale Energy Operations and Services                      10,774       6,618
Retail Energy Services                                          468         322
Exploration and Production (a)                                     -        230
Corporate and Other (including intercompany eliminations)      (145)         35
    Total Revenues                                       $    11,655 $     7,702

								     $     653  $      653
									 1,379        1,196
									37,125      27,725
									 1,720        1,072
									   526         884
									  (609)       (270)
								     $  40,794  $   31,260

After tax results

Core Businesses
Retail Energy Services
Net Income Excluding Nonrecurring Items
Nonrecurring Items:
Gain on sale of. EOG stock
Charges related to MTBE asset
Cumulative effect of accounting changes
Net income

$      257  $      190
	  I
       258         171

	  -        45
	  -        (40)

$      258  $      176

$    1,013 $       783
		   (85)
       956         698

       345         45
      (278)        (40)
      (131) _________

$      892 $       703

Earnings (loss) per share (diluted) (b)

Core Businesses
Retail Energy Services
EPS (diluted) excluding nonrecurring items
Nonrecurring items:
Gain on sale of EOG stock
Charges related to MTBE asset
Cumulative effect of accounting changes
EPS (diluted)

Average shares outstanding (diluted) (b)

$     0.30 $     0.27

      0.30       0.24

		 0.07
		 (0.06)

$     0.30 $     0.25

      779.1      716.4

$     1.25 $     1.13

      1.18       1.01

      0.45       0.06
     (0.36)     (0.06)
     (0.17) _________

$     1.10 $     1.01

     769.0      695.3

(a) Reflects results of Enron Oil & Gas through August 16,1999, date of share exchange transaction.
(b) Shares outstanding and EPS amounts have been restated to reflect the two-for-one common stock split that was
   effective August 13, 1999.



							Fourth Quarter 1999

				ENRON CORP.
			  Table 2a - Results by Segment
		       (Unaudited: in millions, except per share amounts)

	      Retail
  Core        Energy
Businesses   Services

 Non-
Recurring       Total

IBIT:
Transportation and Distribution:
  Gas Pipeline Group
  Portland General
Wholesale Energy Operations and Services
Retail Energy Services
Exploration and Production (a)
Corporate and Other
  IBIT
Interest and Related Charges, net
Dividends on Preferred- Securities
 of Subsidiaries
Minority Interests
Income Tax Provision (Benefit)
Net Income (Loss)
Preferred Dividends:
  Second preferred stock
  Series A and Series B Preferred Stock (b)
Earnings (Loss) on Common Stock

$      97 $
      105
      275

 97
105
275
  2

2

	       -             -          (4)
473            2             -         475
122            -             -         122

 20            -             -          20
 41            -             -          41
 33            1             -          34
257            1             -         258

4

4

      20         -          -        20
$    233$        1$         - $     234

Average Number of Shares Used: (c)
  Basic
  Diluted

Earnings (Loss) per Common Share: (c)
  Basic
  Diluted

				     715.3
    779.1    779.1       779.1       779.1

				 $    0.33
$    0.30 $   -    $      -      $    0.31

(a) Reflects results of Enron Oil & Gas through August 16, 1999, date of share exchange transaction.
(b) The Series A and Series B Preferred Stock are antidilutive and therefore have been excluded from the
   calculation of diluted earnings per share.
(c) Shares outstanding and EPS amounts have been restated to reflect the two-for-one common stock split that was
   effective August 13, 1999.



							  Fourth Quarter 1998

				    ENRON CORP.
			     Table 2b - Results by Segment
			  (Unaudited: in millions, except per share amounts)

						      Retail
					  Gore        Energy       Non-
					Businesses   Services    Recurring

IBIT:
Transportation and Distribution:
  Gas Pipeline Group
  Portland General
Wholesale Energy Operations and Service
Retail Energy Services
Exploration and Production
Corporate and Other
  IBIT
Interest and Related Charges, net
Dividends on Preferred Securities
 of Subsidiaries
Minority Interests
Income Tax Provision (Benefit)
Net Income (Loss)
Preferred Dividends:
  Second preferred stock
Earnings (Loss) on Common Stock

$      84 $
       84
      201          -           -
	-       (26)           -
       31          -           -
       26          -         (39)
      426       (26)         (39)
      152          -           -

       19
       17          -           -
       48       A71          (44)
      190       (19)           5

	4          -           -
$     186$      (19)$          5

       84
       84
       201
       (26)
       31
       (13)
       361
       152

	19
	17

       176

	 4
$      172

Average Number of Shares Used:
  Basic
						716.4       716.4        716.4

Earnings (Loss) per Common Share:
  Basic
  Diluted

$    0.27 $    (0.03) $     0.01  $

Note: Shares outstanding and EPS amounts have been restated to reflect the two-for-one common stock split that was
     effective August 13, 1999.

Total

Diluted

661.8
716.4

$      0.26
       0.25



								 1999 Year

			      ENRON CORP.
			Table 2c - Results by Segment
		     (Unaudited: in millions, except per share amounts)

						       Retail
					   Core       Energy
					Businesses   Services

								Non-
							      Recurring

IBIT:
Transportation and Distribution:
  Gas Pipeline Group
  Portland General
Wholesale Energy Operations and Services
Retail Energy Services
Exploration and Production (a)
Corporate and Other
  IBIT
Interest and Related Charges, net
Dividends on Preferred Securities
 of Subsidiaries
Minority Interests
Income Tax Provision (Benefit)
Income (Loss) before Cumulative Accounting Changes
Cumulative Effect of Accounting Changes, net of tax
Net Income (Loss)
Preferred Dividends:
  Second preferred stock
  Series A and Series B Preferred Stock (b)
Earnings (Loss) on Common Stock

(73)

(73)
 7

13
13

$      380  $
       305
     1,329

	65

     2,057

       652

	49           -            -
$      947  $     (57) $        (64)

 77           -
 135          -         -
 180       (23)       (54)
1,013      (57)        67
  -           -       (131)
1,013      (57)       (64)

 17

	380
	305
       1,329
	(73)
	 65

       1,997
	659

	 77
	135
	103
       1,023
       (131)
	892

	 17
	 49
$       826

Average Number of Shares Used: (c)
  Basic
  Diluted

Earnings (Loss) per Common Share: (c)
  Basic
  Diluted

     769.0       769.0        769.0

$     1.25 $     (0.07) $     (0.08) $

       705.3
       769.0

$       1.17
	1.10

(a) Reflects results of Enron Oil & Gas through August 16, 1999, date of share exchange transaction.
(b) The Series A and Series B Preferred Stock are antidilutive and therefore have been excluded from the
   calculation of diluted earnings per share.
(c) Shares outstanding and EPS amounts have been restated to reflect the two-for-one common stock split that was
   effective August 13, 1999.

Total



							       1998 Year

				 ENRON CORP.
			   Table 2d - Results by Segment
			(Unaudited: in millions, except per share amounts)

						      Retail
					   Core       Energy
					Businesses   Services

								Non-
							      Recurring

IBIT:
Transportation and Distribution:
  Gas Pipeline Group
  Portland General
Wholesale Energy Operations and Services
Retail Energy Services
Exploration and Production
Corporate and Other
  IBIT
Interest and Related Charges, net
Dividends on Preferred Securities
 of Subsidiaries
Minority Interests
Income Tax Provision (Benefit)
Net Income (Loss)
Preferred Dividends:
  Second preferred stock
Earnings (Loss) on Common Stock

$      351 $
       286
       968

-s

		(119)
      128          -            -
	7          -          (39)
     1,740      (119)         (39)
      546          4            -

       77
       77          -            -

      783        (85)           5

       17          -            -
$     766 $A~1$                 5

       351
       286
       968
      (119)
       128

      1,582
       550

	77
	77
       175
       703

	17
$      686

Average Number of Shares Used:
  Basic
  Diluted

Earnings (Loss) per Common Share:
 Basic
 Diluted

    695.3     695.3      695.3

$    1.13 $~A~L~3)~$      -

Note: Shares outstanding and EPS amounts have been restated to reflect the two-for-one common stock split that was
     effective August 13, 1999.

Total

      642.3
      695.3

$      1.07
$      1.01



					I Transportation
					 and Distribution
		     ENRON CORP.
	     Table 3a - Core Business Highlights
		       (Unaudited)

 Quarter Ended
 December 31,
1999      1998

  Year Ended
  December 31,
1999      1998

Gas Pipeline Group

(In Millions)
Net Revenues
Operating Expenses
Depreciation & Amortization
Equity in Earnings
Other Income, net
  BIT

Total Volumes Transported (BBtu/d) (a)
  Northern Natural Gas
  Transwestern Pipeline
  Florida Gas Transmission
  Northern Border Pipeline

$     176$     167$      626$      640
       74       71       264       276
       14       20        66       70
	8        4        38       32
	1        4        46       25
$      97$      84$      380$      351

3,738
1,460
1,538
2,406

3,792
1,564
1,471
1,723

3,817
1,462
1,493
2,405

4,046
1,646
1,328
1,766

Portland General
(In Millions)

Revenues
Purchased Power & Fuel
Operating Expenses
Depreciation & Amortization
Other Income, net
 IBIT

$     377 $    327 $   1,379 $   1,196
      179      129       639      451
       81       65       304      295
       44       47       181      183
       32      j~        50        19
$     105$      84$      305$     286

Retail Customers (end of period, thousands)      719       698        719       698

Electricity Sales (Thousand MWh)
  Residential
  Commercial
  Industrial                                 __________ __________ __________ __________

    Total Retail
  Wholesale                                            __________ __________ __________

    Total Sales

				  2,004
				  1,879
				  1,198
				  5,081

				  8,381

					    1,449
					    1,815
					     834
					    4,098
					    2,675
					    6,773

						     7,404
						     7,392
						     4,463
						    19,259
						    12,612
						    31,871

							       5,049
							       5,056
							       2,641
							      12,746
							       8,632
							      21,378

(a) Reflects 100% of each entity's throughput volumes.



						   Wholesale Energy
						      Operations
						     and Services
			   ENRON CORP.
		   Table 3b - Core Business Highlights
			      (Unaudited)

    Quarter Ended
    December 31,
1999         1998

lWholesale Energy Operations and Services  -
(In Millions)
Commodity Sales and Services
Energy Assets and Investments
Unallocated Expenses
 IBIT

$      161  $      107
       151         140

$      275$        201

	 Year Ended
	December 31,
     1999         1998

$       638  $       411
	852          709
	(161)       {i~~
$      1,329 $       968

Projects Under Construction

Pipeline:
 Bolivia-Brazil Pipeline, Phase I - Bolivia
 Bolivia-Brazil Pipeline, Phase I - Brazil
 Cuiaba - Brazil
Power Plants:
 Barge Power Plants
 EcoElectrica Power, Phase I - Puerto Rico
 Nowa Sarzyna - Poland
 Cuiaba, Phase II - Brazil
 Cuiaba, Phase Ill - Brazil
 Puerto Quetzal (Barge Mounted) - Guatemala
 Sarlux - Italy
 Sichuan Jialing Electric Power Ltd. - China
 Gaza - Palestine
 Dabhol, Phase II - India
Other:
 EcoElectrica LNG Terminal - Puerto Rico
 Accroven NGL Facility - Venezuela
 LNG Vessel
 Dabhol LNG Terminal - India

    346 miles
  1,601 miles
    389 miles

     270 MW
     507 MW
     116 MW
      75 MW
     255 MW
     124 MW
     551 MW
     359 MW
     140 MW
    1,624 MW

137500 Cu Meters

Commodity Sales and Services
Physical Volumes (BBtue/d) (a)
Gas:
 United States
 Canada
 Europe
 Other

 Transport Volumes
    Total Gas Volumes
Oil
Liquids
Electricity (b)
    Total Physical Volumes (BBtue/d) (a)

Electricity Volumes Marketed (Thousand MWh)
 United States
 Europe & Other
    Total

    Quarter Ended
    December 31,
1999         1998

10,219
 4,406
 1,604
    26
16,255
   693
16,948
 5,877
   947
 9 433

86,666
   121

7,941
4,101
1,605

    4
13,651
  510
14,161
4,923
  586
8,609
28,279

78,969
  242
79,211

    Year Ended
   December 31,
1999         1998

 8,982
 4,398
 1,549
    23
 14,952
   575
 15,527
 5,407
   753

378,930
 ~Li~i

 7,418
 3,486
 1,243
     8
 12,155
   559
 12,714
 2,960
   610

401,843
   529

 Financial Settlements (Notional)(BBtue/d)

					106,665

						      79,879

 (a) Includes third-party transactions of Enron Energy Services.
 (b) Represents electricity transaction volumes marketed, converted to BBtue/d.

SizelCapacity

 Estimated
Commercial
Operation Date

 Percent
Complete
at 12131199

102000
2Q 2000
20 2000

99%
95%
70%

Table not yet u

10 2000
102000
102000
20 2000
20 2000
20 2000
20 2000
40 2000
102001
402001

30 2000
20 2001
30 2001
40 2001

95%
95%
99%
95%
75%
70%
99%
40%
2%
45%

70%
45%
10%
30%

98,528

75,266