From: Sachs, Lee

Sent: Wednesday, February 20, 2002 11:55 PM
To: SearchCameo
Subject: CAMEO Recon found a word: Enron sent by Soares, Chris to "Martha Altamar’,

alexm@calpine.com, jmacias@calpine.com; jason_s._seligman@cea.eop gov,
shg@cpuc.ca.gov; Soares, Chris; Wilcox, David; Sachs, Lee; Greene, Michelle; Squitieri,
Ray, Stokes, Veronica

Working Group

6.d0e

= This message was found to have a Critical Word in it. Message Sent to "Martha
Altamar'; alexm@calpine.com; jmacias@calpine.com; jason_s._seligmanfcea.eop.gov;
shg@cpuc.ca.gov; Soares, Chris; Wilcox, David; Sachs, Lee; Greene, Michelle; Squitieri,
Ray? Stokes, Veronica; eisenstatl@DSMO.com; sbvanleer@duke-energy. com;
joel .newton@dynegy.com; lynn.lednickyfdynegy.coms smarafenron.com; Linda Lee;
dan.poffenberger@ferc.ged.us.treas.govs pmohler@hewm.com; richarcd.glick@hq.doe.gov:
smutany@iepa.com: karen.tomcalafpge-corp.com: cxg2@pge.com: OxH4@pge.com: RMK4@pge,. com:
joebob-perkins@reliantenergy.com; marvin_k_ballard@reliantenergy.com; KMcCrea@sablaw. com;
fieldejrésce.com; harold.ray@sce.com; dreed@sdge.com: wsakaria@sdge.com:
rahayes@seiworldwide.com; sjcapoma@selworldwide.com; mtierney@sempra.com:
sonnet.edmonds@southernenergy.com; cread@steptoe.com; temoreland@swidlaw.com;
julie. greenisen@troutmansanders. com; erp eran ph Ammemerstreag |), -). ©
From Soares, Chris, CC to Barbour, Gaylen; Curtis Wagner, Date 1 1 1:33:52 PM,
Subject of message RE: California Energy Group e-mail

Word(s) found: Enron

From: Soares, Chris

Sent: 1/12/2001 1:33:52 2M

Received: 1/12/2001 1:33:52 PM

To: "Martha Altamar', SMTP:martha.altamar@ferc. fed.us
alexmécalpine.com, SMTP: alexm@calpine.com
jmacias@calpine.com, SMTP: jmacias@calpine.com
Jason_s._seligman&cea.eop.gov, SMTP: jason_s._seligman@cea.cop.gov
shg@cpuc.ca.gov, SMTP: shg@cpuc.ca.gov
Soares, Chris, EX: /O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=SOARESC
Wilcox, David, + /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=WILCOXD
Sachs, Lee, EX: /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=SachsL
Greene, Michelle, EX: /O*USTREASURY/OU*DO/CN«#RECIPIENTS/CN*GREENEMI
Squitieri, Ray, EX: /O-USTREASURY/OU+DO/CN=RECIPIENTS/CN=SQUITIERIR
Stokes, Veronica, EX: /O-USTREASURY/OU*DO0/CN#RECIPIENTS/CN#STOKESV
eisenstatl@DSMO.com, SMTP:eisenstat1@DSMO.com
sbvanleer@duke-energy.com, SMTP: sbvanleer@duke-energy.com
joel.newton@dynegy.com, SMTP: joel.newton@dynegy. com
lynn.lednicky@dynegy.com, SMTP:lynn.lednicky@dynegy.cam
smara@enron.com, SMTP: smaraGenron.com
Linda Lee, SMTP: linda. lee@ferc. fed.us
dan.poffenberger@ferc.ged,us.t +gov, SMTP:dan.poffenberger@ferc.ged.us.treas.gov
pmohler@hewm.com, SMTP:pmohler@hewm, com
richard.glick@hq.doe,.gov, SMTP: richard.glick@hq.doe.gov
smutany@iepa.com, SMTP: smutany@iepa.com
karen. tomcala@pge-corp.com, SMTP: karen. tomcalalpge-corp.com
exgz@pge.com, SMTP: cxgZ2@pge.com
DxH4@pge.com, SMTP:DxH4@pge.com
FMK4@pge.com, SMTP: RMK4@pge.com
Joebob-perkins@reliantenergy.com, SMTP: joebob-perkins@reliantenergy. com
marvin_k_ballard@reliantenergy.com, SMTP:marvin_k_ballard@reliantenergy.com

law.com, SMT'P:KMcCrea@sablaw.com

fieldejr@ace.com, SMTP: fieldejr@nce.com



From: Wilcox, David

Sent: Thursday, February 21, 2002 12:43 AM
To: SearchCameo
Subject: CAMEO Recon found a word: Enron sent by Squitieri, Ray to Elmendorf, Douglas; Wilcox,

David on 12/14/2000 5:24:50 PM

-alf elec briefing LS
Erecn 1.
This meseage was found to have a Critical Word in it. Message Sent to
Elmendorf, Douglas; Wilcox, David, From Squitieri, Ray, CC to Chryst, Nancy; Flanagan,
Rosemary; Mambor, John, Date 12/14/2000 5:24:50 PM, Subject of message briefing memo for
Summers

Word(s) found: Enron

Saatabate Original Message--~-~

From: Squitieri, Ray

Sent: 12/14/2000 5:24:50 PM

Received: 12/14/2000 5:24:50 PM

To: Elmendorf, Dougl EX: /O=USTREASURY/OU=DO/CN=RECI PIENTS/CN*ELMENDORED
Wilcox, David, EX: /O=USTREASURY/OU*DO/CN=RECIPIENTS/CN#WILCOXD

ce: Chryst, Nancy, EX: /O-USTREASURY/OUDC/CN+RECIPIENTS/CN=CHRYSTN
Flanagan, Rosemary, EX: /OUSTREASURY/OU*DO/CN*RECIPIENTS/CN#FLANAGANR
Hambor, John, EX: /O#USTREASURY/OU*DO/CN*RECIPIENTS/CN*HAMBORI

Subject: briefing memo for Summers

Body:

David, I've used parts of the memo on Krugman to produce this briefing memo for the
Summers-ENRON conversation tomorrow. I'll also send along your markup of my earlier memo,
with answers to your querries. {(b\(8)] + Tf you
joey” else tonight, send the document plus instructions to my home email address:
(oye there's no period between my first and last names)

Alternatively, I°1l be available first thing in the morning.

abated End of message body

ge auditing by MicroData CAMEO Recon


Douglas; Vandivier, David; Sandberg, Sheryl: Stern, Todd; Cohen, Alans Wolin, Neal; Moe,
Martin
Subject: wires ~ California Power Talks

DJ Principals In Calif Pwr Talks Set To Reconvene Saturday

Dow Jones International News Service via Dow Jones

WASHINGTON {Dow Jones}=-The principal negotiators involved in White
House-brokered talks to solve California's electricity crisis are slated to
reconvene here Saturday afternoon, the U.S. Treasury Department confirmed
Friday.

The resumption of high-level talks among top-ranking officials representing
the Clinton administration, California, and utilities and power suppliers will
take place at U.S. Department of Energy headquarters at 3:30 p.m. EST.

California Gov, Gray Davis and other key state regulators and lawmakers are to
participate via a video conferencing link,

The pivotal negotiating session comes after two working groups involving
lower-level officials have since Wednesday in an effort to flesh out the
details of a broad settlement package the principals discussed late Tuesday
during a seven-hour meeting at the Treasury Department.

Knowledgeable sources described Treasury Secretary Lawrence Summers as taking
an active role in attempting to forge an agreement during Tuesday's talks, which
also featured Energy Secretary Bill Richardson, White House economic adviser
Gene Sperling and Federal Energy Regulatory Commission Chairman James Hoecker.

Richardson, who is traveling this weekend in an effort to lobby oil-producing
nations against a pending production cut, will not be attending Saturday's
session.

The working group meetings will wrap up sometime Friday, the Treasury
Department said.

The two groups have separately addressed the two primary features of the
proposed settlement, which involve moving the state's financially ailing
utilities out of volatile spot power markets and into fixed-price forward
contracts while power producers agree to "forbearance" on the huge debt owed by
the utilities

The forbearance and contracts working groups have been meeting separately, and
were to convene a joint s ion late Friday to compare notes before reporting
back to the principal negotiators who will cut any final deal.

Those familiar with the talks have expressed a mix of pessimiam and cptimiam
that a final deal can be struck, given what they described as unrealistic
bargaining demands by Gov. Davis.

He has firmly rejected retail rate increases and resisted demands for the
state to guarantee the nearly $12 billion utilities have paid over the last
eight months for wholesale power but been unable to pass along under
state-mandated frozen retail rates.

Further complicating the talka have been demands by Davis that the proposed
long-term power contracts be at rates far below the production costs of
electricity generators.

But lately the pessimiam has been tempered by signals that Davis may be
persuaded to relent Saturday in his opposition to a state-backed securitization
of the utilities’ undercollections.


From: DeMarco, Edward

Sent: Thursday, February 15, 2001 8:22 AM

To: Hammond, Donald; Ellis, Dina: Huffman, Lucy: Carleton, Norman; McInerney, Roberta;
Constantine, Eleni; Hughes, Gerry; Stewart, Lawranne

Cc: Tishuk, Brian; Robbins, Eric

Subject: FW: Bankruptcy Reform Mark-up Hearing

rxabes Original Message-----

From: Robbins, Eric

Sent: Wednesday, February 14, 2001 5:45 2M
To: DeMarco, Edward

Ce: Tishuk, Brian

Subject: Bankruptcy Reform Mark-up Hearing

H.R, 333, the "Bankruptcy Abuse Prevention and Consumer Protection Act 2001" was reported
out of the House Judiciary Committee on Wednesday, February 14, 2001. During the mark-up
hearing, eighteen amendments were offered with all but one amendment failing to pass.
Voting occurred largely along party lines, The only amendment that passed was a technical
amendment offered by Chairman Sensenbrenner. Only one Republican crossed party lines to
vote for one of the seventeen other amendments that failed,

Representative Bachus (R-AL) assured the commi that he was committed to working with
Representative Oxley from the Financial Services Committee on commercial bankruptcy
provisions and netting requirements.

eee End of message body
Message auditing by MicreData CAMEO Recon


McGivern, Tom,

EX: /O=USTREASURY/OU=D0/CN=RECIPIENTS /CN=GROUPWISE/CN=DOM3, DOPOG .MCGIVERNT
McHale, Stephen,

EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3. DOPOG .MCHALES
McInerney, Roberta,

EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3 . DOPO6 .MCINERNEYR
Sachs, Lee, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM3. DOPO6. SACHSL
Wolin, Neal, EX:/O=USTREASURY/OQU=DO/CN@RECIPIENTS/CN=GROUPWISE/CN=DOM3. DOPOS, WOLINN
ex.mail.JONESM, GWISE:ex.mail.JONESM
ex.mail.VJORSTAD, GWISE:ex.mail.VJORSTAD
Adashek, Jonathan, EX: /O-USTREASURY/CU*DO/CN*RECIPIENTS/CN*ADASHEKI
Affleck-Smith, Joan, EX: /O*USTREASURY/OU*DO/CN*RECIPIENTS/CN*AFFLECK-SMITH
Baer, Gregory, EX: /O-USTREASURY/OU*DO/CN*RECI PIENTS/CN*BAERG
Barr, Michael, EX: /O=USTREASURY/OU*DO/CN*RECIPIENTS/CN@BARRM
Bell, Rochelle, EX: /O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=BELLA
Beresik, Michael, EX: /O=USTREASURY/OU=DO/CNeRECIPIENTS/CN=BERESIXM
Bresee, Elisabeth, EX:/O=USTREASURY/CU=DO/CN=RECI PIENTS/CN=BRESEEE
DeMarco, Edward, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=DEMARCOE
Foote, Norman, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=FOOTEN
Gensler, Gary, EX:/O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=GENSLERG
Johnson, James, EX: /O=USTREASURY/OU=D0/CH=RECIPIENTS/CN=JOHNSONJE
Lebryk, David, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=LEBRYKD
Ross, Lisa, EX: /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=ROSSL

cc:

Subject: Thanks
Body:

[OUTSIDE SCOPE]

T will be starting work next Monday at Enron. When I have my new telephone
number, E-mail, and mailing info, I will have Janet forward it to you. In the
meantime, my home telephone number 4s {(0)(6)) Again, thank you very
much for being a part of my professio: .

- End of message body
Message auditing by MicroData CAMEO Recon


From: Wilcox, David

Sent: Thursday, February 21, 2002 12:47 AM
To: SearchCameo
Subject: CAMEO Recon found a word: Enron sent by Stem, Todd to Klasky, Helaine; Posner, Steven;

Smith, Michelle A., Weaver, Elizabeth; Gallagher, Una; Buck, Bill, Gensler, Gary, Sachs,
Lee; Stewart, Lawranne; Greene, Michelle; Wilcox, David; Elmendorf, Douglas: V

This message was found to have a Critical Word in it. Message Sent to Klasky, Helaine;
Posner, Stevens; Smith, Michelle A.; Weaver, Elizabeth; Gallagher, Unaz Buck, Bill;
Gensler, Gary; Sachs, Lee; Stewart, Lawranne; Greene, Michelle; Wilcox, David; Elmendorf,
Douglas; Vandivier, David; Sandberg, Sheryl: Cohen, Alan; Wolin, Neal; Moe, Martin, From
Stern, Todd, CC to , Date 1/12/2001 5:20:44 PM, Subject of message RE: wires - California
Power Talks

Word(s) found: Enron

“Original Message-----

From: Stern, Todd

Sent: 1/12/2001 5:20:44 PM

Received: 1/12/2001 5:20:44 PM

To: Klasky, Helaine, EX: /O#USTREASURY/OUsDO/CN#RECIPIENTS/CN#KLASKYH
Posner, Steven, £X: /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=POSNERS

Smith, Michelle A., EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=SMITHM
Weaver, Elizabeth, EX: /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN@WEAVERE
Gallagher, Una, £X:/O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GALLAGHERU
Buck, Bill, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=BUCKW

Gensler, Gary, EX:/O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=GENSLERG

Sachs, Lee, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=SACHSL

Stewart, Lawranne, EX: /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=STEWARTLAW
Greene, Michelle, EX: /O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=GREENEMI
Wilcox, David, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CN@=WILCOXD
Elmendorf, Douglas, EX:/O=USTREASURY/OU*DO/CN=RECIPIENTS/CN*ELMENDORFD
Vandivier, David, EX: /O*USTREASURY/OU*DO/CN*RECIPIENTS/CN*VANDIVIERD
Sandberg, Sheryl, EX: /O-USTREASURY/OU+DO/CN+RECIPIENTS/CN+DOM3.DOPOS.SANDBERGS
Cohen, Alan, EX:/O=USTREASURY/OU*DO/CN@RECI PIENTS/CN*DOM3. DOPOS. COHENA
Wolin, Neal, EXt/O*USTREASURY/OU*DO/CN*RECIPIENTS/CN#WOLINN

Moe, Martin, EX:/O-USTREASURY/OU*DO/CN@RECI PIENTS/CN=DOM3.DOPOS.MOEM

ce:
Subject: RE: wires - California Power Talks

Body:
(()(5)]

women Original Message baad

From: Klasky, Helaine

Sent: Friday, January 12, 2001 4:41 PM

To: Posner, Steven; Smith, Michelle A.; Weaver, Elizabeth; Gallagher, Una; Buck, Bill;
Gensler, Gary; Sachs, Lee; Stewart, Lawranne; Greene, Michelle; Wilcox, David; Elmendorf,
Douglas; Vandivier, David; Sandberg, Sheryl; Stern, Todd; Cohen, Alan; Wolin, Neal; Moe,
Martin

Subject: RE: wires - California Power Talks

((b\(5)]

eencer Original Message-----

From: Posner, Steven

Sent: Friday, January 12, 2001 4:29 PM

To: Smith, Michelle A.; Klasky, Helaine; Weaver, Elizabeth; Gallagher, Una; Buck, Bills
Gensler, Gary: Sachs, Lee; Stewart, Lawranne; Greene, Michelle; Wilcox, David; Elmendorf,


EX: /O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM3. DOPOS. HARVEYR
Herold, Valerie,
EX: /O=USTREASURY/OU=D0/CN=RECI PI ENTS/CN=GROUPWISE/CN=DOM3 , DOPOS.HEROLDV
Johnson, Linda,
EX: /O*USTREASURY /OU=DO/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3, DOPOS. JOHNSONL
Jones, Janet,
EX: /O@USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3, DOPOS. JONESJA
Joseph, Verlene,
EX: /OUSTREASURY /OU*DO/CN*RECIPIENTS/CN*GROUPWISE/CN*DOM3 . DOPOS. JOSEPHV
Keene, Carolyn,
EX: /OUSTREASURY /OU*DO/CN*RECI PIENTS/CN#GRCUPW1SE/CN*DOM3. DOPOS. KEENEC
Keller, Alan,
EX: /OMUSTREASURY /OU=DO/CN*RECI PIENTS/CN*GROUPWISE/CN*DOM3. DOPOS. KELLERJ
Kim, Carol, EX: /O=USTREASURY/OU#DO/CN=RECI PIENTS/CN*»GROUPWISE/CN#DOM3.DOPO5.KIMCA
Klasky, Helaine,
EX: /OmUSTREASURY /OU=DO/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3. DOPOS. KLASKYH
Levine, Marne,
EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3. DOPOS. LEVINEM
Lengbrake, John,
EX: /OSUSTREASURY/OU=D0/CN=RECI PIENTS/CH=GROUPWISE/CN=DOM3 . DOPOS. LONGBRAKEJ
Luce, Ed, EX:/O=USTREASURY/OU=DO/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3. DOPOS. LUCER
Matera, Cheryl,
EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3. DOPOS .MATERAC
McAuliffe, Laura,
EX: /O*USTREASURY /OU*DO/CN*RECI PIENTS/CN=GRCUPWISE/CN=DOM3. DOPOS.MCAULIFFEL
Mejia, Annabella,
EX; /OUSTREASURY /OU*DO/CN+RECIPIENTS/CN+GRCUPWISE/CN*DOM3.DOPOS.MEJIAA
Moore, Holly, EX: /O-USTREASURY/OU*DO/CN#RECI PIENTS/CN*GROUPWISE/CN#DOM3. DOPOS .MCOREH
Muldoon, Lara,
EX: /O*USTREASURY/OU*DO/CN*RECI PIENTS/CN*GROUPWISE/CN=DOM3. DOPOS .MULDOONL
Nisanci, Didem,
EX: /OsUSTREASURY/OU=DO/CN=RECI PIENTS/CN@GROUPWISE/CN=DOM3. DOPOS.NISANCID
Powell, Linda,
EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3, DOPOS. POWELLL
Robertson, Linda,
EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3, DOPOS. ROBERTSONL
Sandberg, Sheryl,
EX: /O=USTREASURY /OU=DO/CN=RECI PIENTS/CN=°GROUPWISE/CN=DOM3 . DOPOS , SANDBERGS
Smith, Michelle A.,
EX: /O=USTREASURY /OU=D0/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM3. DOPOS.SMITHM
Starks, Ora, EX: /O=USTREASURY/OU=DO/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3 . DOPOS. STARKSO
Stern, Todd, EX: /O*USTREASURY/OU*DO/CN*RECI PIENTS/CN*GROUPWISE/CN*DOM3. DOPOS. STERNT
Summers, Larry,
EX; /O=USTREASURY/OU*DO/CN=RECIPIENTS/CN*GROUPWISE/CN*DOM3 , DOPOS. SUNMERSL
Toohey, Frank,
EX: /OUSTREASURY/OU*DO/CN*RECI PIENTS/CN*GROUPWISE/CN*DOM3, DOPOS. TOOHEYF
Valentic, Marsha,
EX: /OsUSTREASURY /OU=DO/CN=RECI PLENTS/CN=GRCUPWISE/CN=DOM3. DOPOS. VALENTICM
Barber, Francine,
EX: /O*USTREASURY/OU=D0/CN=RECI PIENTS/CN=GRCUPWISE/CN=DOM3, DOPOG. BARBERF
Barbour, Gaylen,
EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWI SE/CN=DOM3 , DOPOG. BARBOURS
Bieger, Peter,
EX: /O=USTREASURY /OU=D0/CN=RECI PIENTS/ CN=GROUPWISE/CN=DOM3. DOPOG . BIEGERF
Carro, Richard,
EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3 . DOPOG. CARROR
Cohen, David, EX: /O=USTREASURY/OU=DO/CN@RECIPIENTS/CN=GROUPWISE/CN=DOM3. DOPO¢.COHEND
Edsall, Alexandra,
EX: /OUSTREASURY/OU*DO/CN®RECI PIENTS/CN*GROUPWISE/CN*DOM3 . DOPO6. EDSALLA
Greene, Michelle,
EX: /OUSTREASURY /OU*DO/CN*RECI PIENTS/CN*GROUPW1SE/CN#DOM3. DOPO6. GREENEMI
Joy, David, EX: /O*USTREASURY/OU*DO/CN#RECI PIENTS/CN*GROUPWISE/CN*DOM3. DOPO6. JOYD
Kellogg, Cliff,
EX: /OsUSTREASURY/OU=DO/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3. DOPOG. KELLOGGC
McGivern, Tom,
EX: /O*USTREASURY /OU=DO/CNeRECI PIENTS /CN@GROUPWISE/CN=DOM3 . DOPO6 .MCGIVERNT



and analysis. We publish four to six articles a week on our site as an
e-zine. When you buy a year's subscription, you will receive a password
which entitles you to read the current issue and the past twenty months
of articles which are reserved for you in a full text, searchable database.

If you need to know the electric business, you need to read SourceBook
Weekly.

You will find this week's articles listed below.

I hope that this description helps you acquire the information you need
to succeed in today's electric industry. Your free IssueAlert follows this
week's SourceBook Weekly titles.

Sincerely,

Jane Pelz

Director of Marketing Communications
SCIENTECH, Inc.

This week's SourceBook ekly articles are listed below
PeverrIeeerSeeerireerrierr rrr rrrrererr iret rere eet erie rir i irri
WIRES COMPANIES: RISKY BUSINESS?

http://www. consultrei,com/web/rciweb.nsf/Web+Pages/3BEntrance. html

POPCSOTICCCTOCTCTCCCeTereereterercer ter tettere tet rcereerrerrter letter rr sy

FUROR OVER FUEL CELLS
Mh trei.com/|
. oe

sesecseees
PG6E'S HYDROELECTRIC ASSETS: PLAYING BOTH SIDES OF THE GAME
http://www. consultrel.com/web/rciweb.nsf/Web+Pages/SBEntrance.html

SORE R EERE RARE E AHO EEEHEEEEEEHEEHEEEEEEEEEEEHEREEEEEEEEE EERE EEE EES

net /Web+!

aeeeeee .

SOUTHERN COMPANY: SPINOFF OF SOUTHERN ENERGY PLANNED FOR APRIL
http: //wew.consultrci.com/web/rciweb.nsf/Web+P.
POPeTSrOrerrCerircterrrterrererertererrcrses
BEYOND PANTELLOS AND ENPORION: NICHE SUPPLY CHAIN EXCHANGES ATTEMPT TO
PIND SEAT AT THE TABLE

http://www. consultrel.com/web/rciweb.nsf/Web+Pages/3BEntrance.html

OPP STT USC TeCTITeTerrererrererrerererrerrrrerererrrrrerericer rete litt Ts
SIERRA PACIFIC AND PORTLAND GENERAL: MOVING FORWARD ON MERGER
http://www. consultrel,com/web/rciweb.nsf/Web+Pages/SBEntrance. html

teeeeteee FERRER eee ens et ee eee ee she eeeHeeHeeEeeeh obser eee

sees nensenesenns ens sessaseenesees sea sesees ens enseseesseeseesess
SCIENTECH IssueAlert, December 14, 2000

Competition Accelerates in Texas, A Year Before Full Deregulation Is To
Start

By: Will McNamara, Director, Electric Industr

TNPC, Inc., the parent company of The New Power Company, announced that

it is the first residential and small business energy provider to be certified
by the Public Utility Commission of Texas [PUCT]. On Feb. 15, 2001, customers
in Texas can begin signing up with retail electric providers to participate
in the state's pilot program, scheduled to begin in June. Full competition
will begin in Texas in January 2002.

ANALYSIS: THPC may be the first certified energy service provider in Texas,
which it claims will provide a "first mover advantage,” but it definitely
faces increasing competition in the state. Just within the last couple

of months, there has been a spate of new activity surrounding the Lone

Star 3t. 4@ year before full competition will be available to all customers
of investor-owned utilities in Texas. (The state's rural electric cooperatives
and municipal utilities can opt out of competition). Restructuring law

in Texas requires utilities within the state to separate various businesses,
for instance power generation, power delivery and energy services. Thus,

even those utilities that have historically had a large presence in the
state will have to register with the PUCT to retail electricity.



From: Affleck-Smith, Joan

Sent: Wednesday, February 20, 2002 5:51 PM

To: SearchCameo

Subject: CAMEO Recon found a word: Enron sent by
/O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM13,00PO7 VAN

DIVIERD to Carter, Ted; Arkin, Steve; Baker, Ros; Conly, Sonia; Cumby, Robert; Davie,
Bruce; DeLaVina, Lynda; Flanagan, Rosemary, Gerardi, Geraldine;

This message was found to have a Critical Word in it. Message Sent to Carter, Ted; Arkin,
Steve; Baker, Ros; Conly, Sonia; Cumby, Rebert; Davie, Bruce; DeLaVina, Lynda; Flanagan,
Rosemary; Gerardi, Geraldine; Holtzblatt, Janet; Iwry, Mark; Knopf, Kevin; McCubbin,
Janet; Mikrut, Joseph; Talisman, Jon; Walker, Deborah; Atkinson, Caroline; Baukol, Andrew;
Budington, Michele; Cetina, Jill; Chaves, Mary; Eichenberger, Joe; Fall, James; Geithner,
Timothy; Gelpern, Anna; John, James; Lee, Nancy; Lowery, Clay; Ludden, Ken; Schuerch,
William; Stedman, Louellen; Truman, Ted; Walsh, Helen; Alagiri, Priya; Andrews, Lisa;
Arnold, Thomas; Bordoff, Jason; Cameron, Art; Carter, Jana; Cohen, Alan; Comstock, Neal;
Decker, Larry: Desler, Anne; Egolf, Brian; Eizenstat, Stuart; Fant, William; Flanders,
Stephanie; Gathers, Shirley; Grayson, Cherry; Harvey, Reavie; Herold, Valerie; Johnson,
Linda: Jones, Janet; Joseph, Verlene; Keene, Carolyn; Keller, Alan; Kim, Carol; Klasky,
Helaine; Levine, Marne; Longbrake, John; Luce, Ed; Matera, Cheryl; McAuliffe, Laura?
Mejia, Annabella; Moore, Holly; Muldoon, Lara; Wisanci, Didem; Powell, Linda; Robertson,
Linda: Sandberg, Sheryl; Smith, Michelle A.: Starks, Ora; Stern, Todd; Summers, Larry;
Toohey, Frank; Valentic, Marsha; Barber, Francine; Barbour, Gaylen; Bieger, Peter; Carro,
Richard; Cohen, David; Edsall, Alexandra; Greene, Michelle; Joy, David; Kellogg, Cliff;
McGivern, Tom; McHale, Stephen; McInerney, Roberta; Sachs, Lee; Wolin, Neal;
ex.mail,JONESM; ex.mail.VJORSTAD; Adashek, Jonathan; Affleck-Smith, Joan; Baer, Gregory;
Barr, Michael; Bell, Rochelle; Beresik, Michael; Bresee, Elisabeth; DeMarco, Edward;
Foote, Norman; Gensler, Gary; Johnson, James; Lebryk, David; Hoss, Lisa, From
/O=USTREASURY/OU*DO/CN*RECI PIENTS/CN*GROUPWISE/CN*DOM13.DOPO7.VANDIVIERD, CC to , Date
11/3/2000 5:08:00 PM, Subject of message Thanks -Reply

Word(s) found: Enron

From: /O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM13.DOPO7. VANDIVIERD

Sent: 11/3/2000 5:08:00 FN

Received: 11/3/2000 5:08:16 FM

To: Carter, Ted,

EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/ CN=GROUPWISE/CN=DOM11.DOPO4.CARTERT
Arkin, Steve,

EX: /OUSTREASURY/OU=DO/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM1 3. DOPO? .ARKINS
Baker, Ros, EX:/O#USTREASURY/OU*DO/CN*RECI PIENTS/CN*GROUPWISE/CN*DOM13.DOPO7. BAKERR
Conly, Sonia,

EX: /O*USTREASURY /OU*DO/CN*RECIPIENTS/CN#GRCUPW1SE/CN*DOM1 3. DOPO7 . CONLYS
Cumby, Robert,

EX: /O*USTREASURY/OU*DO/CNWRECI PIENTS/CN*GROUPWISE/CN*DOM13.DOPO7.CUMBYR
Davie, Bruce,

EX: /O=USTREASURY /OU=DO/CN=RECI PIENTS/CN@GROUPWISE/CN=DOM13.DOPO7. DAVIEB
DeLaVina, Lynda,

EX: /O*USTREASURY/OU=DO/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM13.DOPO7. DELAVINAL
Flanagan, Rosemary,

Ex: /O=USTREASURY /QU=DO/Cht=RECIPI ENTS/CN=GROUPWISE/CN=DOM13.DOPO7. FLANAGANR,
Gerardi, Geraldine,

EX: /O@USTREASURY /OU=DO/CN=RECIPIENTS/Ch=GROUPWISE/CN=DOM1 3. DOPO7 , GERARDIG
Holtzblatt, Janet,

EX: /O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM13.DOPO7 -HOLTZBLATTJ
Iwry, Mark, EX:/O*USTREASURY/OU=DO/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM13.DOPO7. IWRYM
Knopf, Kevin,

EX: /O*USTREASURY/OU*DO/CN*RECI PIENTS/CNGROUPWISE/CN*DOM13.DOPO7. KNOPEK
McCubbin, Janet,

EX: /OUSTREASURY /OU*DO/CN*RECI PIENTS/CN*GROUPWISE/CN*DOM13.DOPO7 .MCCUBBING
Mikrut, Joseph,


{()(5)]

((b\(5)]


From: McHale, Stephen
Sent: Wednesday, February 20, 2002 8:53 PM
SearchCameo

CAMEO Recon found a word: Enron sent by Bodolay, Stephen to

‘michale schmitz@do treas.gov’; McClain, Ellen; Brenner, Louis Jr, Bellew, Sandra;
McCullough, |. Chartes Ill; Langford , William; Crawford, Elise; Bouslough, Terry; Gordon,
Catherine; Bodolay, S

This message was found to have a Critical Word in it. Message Sent to
‘michale.schmitz@do.treas.gov'; McClain, Ellen; Brenner, Louis Jr; Bellew, Sandra;
McCullough, I. Charles III; Langford , William; Crawford, Elise; Bouslough, Terry; Gordon,
Catherine; Bedolay, Stephen, From Bodolay, Stephen, CC to McHale, Stephen; Kerner,
Francine, Date 1/15/2002 10:53:52 AM, Subject of message Enron Investigations

Word(s) found: Enron

seen Original Message-----

From: Bodolay, Stephen

Sent: 1/15/2002 10:53:52 AM

Received: 1/15/2002 10:53:53 AM

To: *michale,schmitz@do.treas.gov', SMTP:michale.schmitz@do.treas.gov
McClain, Ellen, EX: /O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=MCCLAINE
Brenner, Louis Jr, EX:/O=USTREASURY/CU=DO/CN=RECIPIENTS/CN=BRENNERL
Bellew, Sandra, EX: /O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=BELLEWS
McCullough, I. Charles III, EX:/O=USTREASURY/OU=DO0/CN@RECIPIENTS/CN*MCCULLOUGHC
Langford , William, EX:/O#USTREASURY/OU#DO/CN*RECIPIENTS/CH*LANGFORD W
Crawford, Elise, EX: /OUSTREASURY/OU+DO/CNRECI PIENTS/CN=CRAWFORDE
Bouslough, Terry, EX: /O-USTREASURY/OU#DO0/CN*RECI PIENTS/CN=BOUSLOUGHT
Gordon, Catherine, EX: /O=USTREASURY/CU*DO/CN*RECIPIENTS/CN#GORDONC
Bodolay, Stephen, EX: /O-USTREASURY/OU=DO/CN*RECIPIENTS/CN*BODOLAYS

CC: McHale, Stephen, EX: /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=MCHALES
Kerner, Francine, EX:/O=USTREASURY/OU=D0/CN=RECIPIENTS/CN@KERNERF

Subject: Enron Investigations

Body:
Folks:

[(b)(5) , (b)(2)]


reply to this message and type "delete" in the subject line

~ End of message body
Message auditing by MicroData CAMEO Recon


{(b)(S)]

Norman

aaaaa Original Message-----

Prom: Hammond, Donald

Sent: Thursday, February 15, 2001 8:26 AM

To: DeMarco, Edward; Ellis, Dinas Huffman, Lucys Carleton, Norman; McInerney, Roberta;
Constantine, Eleni; Hughes, Gerry: Stewart, Lawranne

Ce: Tishuk, Brian; Robbins, Eric

Subject: RE: Bankruptcy Reform Mark-up Hearing

Ed,

{(b)(5)}

{(b)(5)}

Don


EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM13.DOPO7 .MIKRUTJ
Talisman, Jon,

EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM13.DOPO7. TALISMANT
Walker, Deborah,

EX: /O*USTREASURY/OU=DO/CN*RECIPIENTS/CN=GROUPWISE/CN=DOM1 3. DOPO? .WALKERD
Atkinson, Caroline,

EX: /O@USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM1 3. DOPO8 .ATKINSONC
Baukol, Andrew,

EX: /O*USTREASURY /OU*DO/CN*RECIPIENTS/CN*GROUPWISE/CN*DOM13.DOPO8 . BAUKOLA
Budington, Michele,

EX: /OUSTREASURY /OU*DO/CN*RECI PIENTS/CN#GRCUPW1SE/CN*DOM13.DOPOS . BUDINGTONM
Cetina, Jill,

EX: /OMUSTREASURY/OU=DO/CN*RECI PIENTS/CN*GROUPWISE/CN*DOM13.DOPO8.CETINAI
Chaves, Mary,

EX: /OmUSTREASURY /OU=D0/CN=RECIPIENTS/CN=GRCUPWISE/CN=DOM13.DOPOS .CHAVESM
Eichenberger, Joe,

EX: /O*USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWI SE/CN=DOM13.DOPOS.EICHENBERGERT
Fall, James, EX:/O=USTREASURY/OU=DO/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM13. DOPOS. FALLJ
Geithner, Timothy,

EX: /OSUSTREASURY/OU=D0/CN=RECI PIENTS/CH=GROUPWISE/CN=DOM1 3. DOPO8 .GEITHNERT
Gelpern, Anna,

EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM13.D0?08.GELPERNA
John, James, EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM13. DOPO8. JOHNI
Lee, Nancy, EX: /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM13.DOPOS, LEEN
Lowery, Clay,

EX: /OwUSTREASURY /OU*DO/CN®RECIPIENTS/CN*GRCUPWISE/CN*DOM13.DOPO8. LOWERYC
Ludden, Ken,

EX; /O*USTREASURY /OU*DO/CN*RECI PLENTS/CN*GROUPW1SE/CN*DOM13.DOPOS . LUDDENK
Schuerch, William,

EX: /OmUSTREASURY/OU*DO/CN*RECI PIENTS/CN*GROUPWISE/CN~DOM13.DOPO8 . SCHUERCHW
Stedman, Louellen,

EX: /OmUSTREASURY /OU=DO/CN=RECI PIENTS/CN@GROUPWISE/CN=DOM13. DOPOS . STEDMANL
‘Truman, Ted,

EX: /O=USTREASURY/OU=DO/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM13,DOPO8.TRUMANT
Walsh, Helen,

EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM13.DOPOS .WALSHH
Alagiri, Priya,

EX: /O=USTREASURY /OU=DO/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3. DOPOS .ALAGIRIP
Andrews, Lisa,

EX: /O=USTREASURY /OU=D0/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM3, DOPOS .ANDREWSL
Arnold, Thomas,

EX: /OPUSTREASURY /OU*DO/CN*RECIPIENTS/CN*GROUPWISE/CN*DOM3 , DOPOS.ARNOLDT
Bordoff, Jason,

EX; /O=USTREASURY/OU*DO/CN=RECI PIENTS/CN*GROUPWISE/CN*DOM3 , DOPOS. BORDOFFJ
Cameron, Art,

EX: /OUSTREASURY/OU*DO/CN*RECI PIENTS/CN*GROUPWISE/CN*DOM3, DOPOS.CAMERONA
Carter, Jana,

EX: /OsUSTREASURY /OU=DO/CN=RECI PIENTS/CN=GRCUPWISE/CN=DOM3. DOPOS.CARTERJ
Cohen, Alan, EX:/O=USTREASURY/OU=DO/CN=RECI PIENTS/CHeGROUPWISE/CN#DOM3. DOPOS , COHENA
Comstock, Neal,

EX: /O=USTREASURY /OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3 , DOPOS. COMSTOCKN
Decker, Larry,

EX: /O@USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3, DOPOS. DECKERL
Desler, Anne,

EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3. DOPOS. DESLERA
Egolf, Brian, EX: /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM3, DOPOS. EGOLFS
Eizenstat, Stuart,

EX: /O*USTREASURY/OU=DO/CN*RECI PIENTS/CN@GROUPWISE/CN=DOM3. DOPOS. EIZENSTATS
Fant, William, EX:/O*USTREASURY/OU*DO/CN*RECIPIENTS/CN*GROUPWISE/CN*DOM3.DOPOS. FANTW
Flanders, Stephanie,

EX: /OUSTREASURY /OU*DO/CN*RECI PIENTS/CN*GROUPW1SE/CN#DOM3. DOPOS. FLANDERSS
Gathers, Shirley,

EX: /OUSTREASURY/OU*DO/CN*RECI PIENTS/CN*GRCUPWISE/CN~DOM3 . DOPOS.GATHERSS
Grayson, Cherry,

EX: /OmUSTREASURY /OU=DO0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3. DOPOS.GRAYSONC
Harvey, Reavie,


To: David Wilcox

From: Ray Squitieri

Subject: Paul Krugman’s claims about the California power market
[(b)(5)]


April 5 to discuss the West Coast energy crisis. I see no reason to object. Thoughts?
Staeata bate End of message body

Message auditing by MicroData CAMEO Recon


"RMK4@pge.com', SMTP:RMK4@pge.com

*joebob-perkins' liantenergy.com', SMTP: joebob-perkins@reliantenergy.com
*marvin_k_ballar ntenergy.com', SMTP:marvin_k_ballard@reliantenergy.com
"WHcCrea@sablaw.com', SMTP: KMcCrea@sablaw.com

"fieldejrésce.com’, SMTP: fieldejr@sce.com

“harold. cay@sce,com', SMTP:harold. cay@sce.com

"dreed@sdge.com', SMTP:dreed@sdge.com

*weakaria@sdge.com', SMTP:wsakaria@sdge.com

*rahayes@seivorldwide.com', SMTP: rahayes@seiworldwide.com
"sj}capoma@selworldwide.com', SMTP:sjcapoma@seiworldwide.com
"mtierney@sempra.com', SMTP:mtierney@sexpra.com
*sonnet.edmonds@southernenergy.com', SMTP:sonnet.edmonds@southernenergy. com
"cread@steptae.com', SMTP: creadSsteptoe.com

*temoreland@swidlaw.com', SMTP: temorelandfswidlaw.com
*julie.greenisen@troutmansanders.com', SMIP:julie.greenisen@troutmansanders.com
a SMTPralex.goldberg@williams.com

’ nm, EX: /O=USTREASURY/OU=DO/CN=RECI PIENTS/CN=Groupwise/cn=Treasury.DOPO.ADMIN
‘ronald_minsk@opd.eop.gov', SMTP: ronald_minsk@opd.eop.gov

*4mdonnell Gduke-energy.com', SMTP: jmdonnell@duke-energy.com
"hjpodewerfduke-energy.com', SMTP: hjpodewer@duke-energy.com
*bbailey@duke-energy.com’, SMTP:bbailey@duke-energy.com
*njdeschane@duke-energy.com', SHTP:njdeschane@duke-energy.com
“wihall@duke-energy.com', SMTP: wfhall@duke-energy.com
*abvanleer@duke-energy.com', SMTP: sbvanleer@duke-energy.com

"rmk4@pge.com', SMTP: rmk4@pge.com

"ddrO08pge.com', SMTP:ddr08pge.com

"r}p2@pge.com', SMTP: rjp28pge.com

“starckle@sce.com', SMTP:starckle@sce.com

*John.gammie@williams.com', SMTP: john.gammie@williams.com
*reharris@seiworldwide.com', SMTP: reharris@seiworldwide.com

jeiworldwide.com',
"dimiller@seiworldwide.com', SMTP:dlmiller@seiworldwide.com
*jwholden@seiworldwide.com', SMTP: jwholden@seiworldwide.com
*richard.shapiro@enron.com’, SMTP: richard.shapiro#fenron.com
‘robert.badeerfenron.com', SMI'P:robert.badeer@enron.com

cc: Barbour, Gaylen, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=BARBOURG
"Curtis Wagner’, SMTP: curtis.wagner€ferc. fed.us

Subject: RE: California Energy Group e-mail TEST MESSAGE
Body:

onause End of message body

Message auditing by MicroData CAMEO Recon


cut to the bone. The stocks of Dynegy, Enron Corp. (ENE), etc., have high
price-to-earnings ratios because their earnings are expected to continue strong
growth under electric deregulation. They are the emerging masters of a
deregulated universe, but if deregulation were to throw PG6E and Edison into
bankruptcy court, there wouldn't be any deregulated electric universe to master.

As one electricity trader put it: "They have got to get a deal done. If they
don't get ‘The California Energy Crisis' off of CNBC every 30 minutes, I'm going
to be out of a job.”

Generators' stock prices have been getting hammered since the first of the
year due to several factors, such as profit-taking after a great 2000, according
to Credit Suisse First Boston utility analyst Paul Patterson. Duke's stock has
fallen to $66 from $85 since Dec. 2%, for example.

Prices of generator stocks have come down hard, in part, because a California
catastrophe would derail deregulation in many states and the forecasts for
generators’ earnings growth would be questioned, according to Solomon Smith
Barney analyst Ray Niles.

That's the finances. The physical reality is that the western U.S. probably
won't have enough electricity to meet demand for the rest of this year. Starting
in February, if a deal is done, California utilities won't be the last in line
to get their power, and the threat of blackouts will be spread out across the
West.

Other than that, where's the rub? Under deregulation, consumers were supposed
to get market rates in 2002. Based on the current forward market and the
utilities’ cost of retained generators, 7 cents/kwh for the rest of this year is
a great deal. For 2002, it’s fair, but for 2003-2008, it's terrible. The current
purchase price for those years is about 5 cents. With utility-owned generation
at 3 cents, consumers will be paying 7 cents/kwh when they should be paying 4
cents/kwh.

And the 2.4 cents/kwh competition transition charge (CTC) that was supposed to
end in 2002 has to be extended several more years. The CTC is “non-bypassable,”
which means if you leave the local monopoly for an alternative supplier, you
still have te send a couple of cents/kwh to the old utility,

Ratepayer groups got about 40 people to storm the PGsE corporate headquarters
this week over the one cent rate increase. Another rate increase would cause
riots and ballot initiatives, and cost Davis his job.

But can consumer groups get people out in the streets over a deal that's great
how, but overcharges them starting in 2003? I doubt it.

Businesses such as Intel Corp, (INTC) will know they are getting the short end
of the stick financially and that power in the western U.S. is still unreliable,
so they will decide to build new factories in other states. That's how you
bypass non-bypassable charges. It will be bad for the state's economic growth,
but California needs to stop adding electricity demand.

The stars are aligned for a deal very scon: eight days left before the
executive branch of the U.S. government changes from one that wants to help
Davis to one that wants to hurt him; about the same amount of time is left
before the utilities run out of cash; forward power prices have come down a lot
in the past 30 days, but could easily start to rise again; merchant power

yy stock prices have been punished for two weeks, and their executives
don't want to kill the golden goose.

How can they not get this done?

~By Mark Golden, Dow Jones Newswires; 201-938-4604; mark.golden@dowjones.com


{(b)(5)]


EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM13.DOPO7 .MIKRUTJ
Talisman, Jon,

EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM13.DOPO7. TALISMANT
Walker, Deborah,

EX: /O*USTREASURY/OU=DO/CN*RECIPIENTS/CN=GROUPWISE/CN=DOM1 3. DOPO? .WALKERD
Atkinson, Caroline,

EX: /O@USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM1 3. DOPO8 .ATKINSONC
Baukol, Andrew,

EX: /O*USTREASURY /OU*DO/CN*RECIPIENTS/CN*GROUPWISE/CN*DOM13.DOPO8 . BAUKOLA
Budington, Michele,

EX: /OUSTREASURY /OU*DO/CN*RECI PIENTS/CN#GRCUPW1SE/CN*DOM13.DOPOS . BUDINGTONM
Cetina, Jill,

EX: /OMUSTREASURY/OU=DO/CN*RECI PIENTS/CN*GROUPWISE/CN*DOM13.DOPO8.CETINAI
Chaves, Mary,

EX: /OmUSTREASURY /OU=D0/CN=RECIPIENTS/CN=GRCUPWISE/CN=DOM13.DOPOS .CHAVESM
Eichenberger, Joe,

EX: /O*USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWI SE/CN=DOM13.DOPOS.EICHENBERGERT
Fall, James, EX:/O=USTREASURY/OU=DO/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM13. DOPOS. FALLJ
Geithner, Timothy,

EX: /OSUSTREASURY/OU=D0/CN=RECI PIENTS/CH=GROUPWISE/CN=DOM1 3. DOPO8 .GEITHNERT
Gelpern, Anna,

EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM13.D0?08.GELPERNA
John, James, EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM13. DOPO8. JOHNI
Lee, Nancy, EX: /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM13.DOPOS, LEEN
Lowery, Clay,

EX: /OwUSTREASURY /OU*DO/CN®RECIPIENTS/CN*GRCUPWISE/CN*DOM13.DOPO8. LOWERYC
Ludden, Ken,

EX; /O*USTREASURY /OU*DO/CN*RECI PLENTS/CN*GROUPW1SE/CN*DOM13.DOPOS . LUDDENK
Schuerch, William,

EX: /OmUSTREASURY/OU*DO/CN*RECI PIENTS/CN*GROUPWISE/CN~DOM13.DOPO8 . SCHUERCHW
Stedman, Louellen,

EX: /OmUSTREASURY /OU=DO/CN=RECI PIENTS/CN@GROUPWISE/CN=DOM13. DOPOS . STEDMANL
‘Truman, Ted,

EX: /O=USTREASURY/OU=DO/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM13,DOPO8.TRUMANT
Walsh, Helen,

EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM13.DOPOS .WALSHH
Alagiri, Priya,

EX: /O=USTREASURY /OU=DO/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3. DOPOS .ALAGIRIP
Andrews, Lisa,

EX: /O=USTREASURY /OU=D0/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM3, DOPOS .ANDREWSL
Arnold, Thomas,

EX: /OPUSTREASURY /OU*DO/CN*RECIPIENTS/CN*GROUPWISE/CN*DOM3 , DOPOS.ARNOLDT
Bordoff, Jason,

EX; /O=USTREASURY/OU*DO/CN=RECI PIENTS/CN*GROUPWISE/CN*DOM3 , DOPOS. BORDOFFJ
Cameron, Art,

EX: /OUSTREASURY/OU*DO/CN*RECI PIENTS/CN*GROUPWISE/CN*DOM3, DOPOS.CAMERONA
Carter, Jana,

EX: /OsUSTREASURY /OU=DO/CN=RECI PIENTS/CN=GRCUPWISE/CN=DOM3. DOPOS.CARTERJ
Cohen, Alan, EX:/O=USTREASURY/OU=DO/CN=RECI PIENTS/CHeGROUPWISE/CN#DOM3. DOPOS , COHENA
Comstock, Neal,

EX: /O=USTREASURY /OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3 , DOPOS. COMSTOCKN
Decker, Larry,

EX: /O@USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3, DOPOS. DECKERL
Desler, Anne,

EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3. DOPOS. DESLERA
Egolf, Brian, EX: /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM3, DOPOS. EGOLFS
Eizenstat, Stuart,

EX: /O*USTREASURY/OU=DO/CN*RECI PIENTS/CN@GROUPWISE/CN=DOM3. DOPOS. EIZENSTATS
Fant, William, EX:/O*USTREASURY/OU*DO/CN*RECIPIENTS/CN*GROUPWISE/CN*DOM3.DOPOS. FANTW
Flanders, Stephanie,

EX: /OUSTREASURY /OU*DO/CN*RECI PIENTS/CN*GROUPW1SE/CN#DOM3. DOPOS. FLANDERSS
Gathers, Shirley,

EX: /OUSTREASURY/OU*DO/CN*RECI PIENTS/CN*GRCUPWISE/CN~DOM3 . DOPOS.GATHERSS
Grayson, Cherry,

EX: /OmUSTREASURY /OU=DO0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3. DOPOS.GRAYSONC
Harvey, Reavie,


From: DeMarco, Edward

Sent: Thursday, February 15, 2001 8:22 AM

To: Hammond, Donald; Ellis, Dina: Huffman, Lucy: Carleton, Norman; McInerney, Roberta;
Constantine, Eleni; Hughes, Gerry; Stewart, Lawranne

Cc: Tishuk, Brian; Robbins, Eric

Subject: FW: Bankruptcy Reform Mark-up Hearing

rxabes Original Message-----

From: Robbins, Eric

Sent: Wednesday, February 14, 2001 5:45 2M
To: DeMarco, Edward

Ce: Tishuk, Brian

Subject: Bankruptcy Reform Mark-up Hearing

H.R, 333, the "Bankruptcy Abuse Prevention and Consumer Protection Act 2001" was reported
out of the House Judiciary Committee on Wednesday, February 14, 2001. During the mark-up
hearing, eighteen amendments were offered with all but one amendment failing to pass.
Voting occurred largely along party lines, The only amendment that passed was a technical
amendment offered by Chairman Sensenbrenner. Only one Republican crossed party lines to
vote for one of the seventeen other amendments that failed,

Representative Bachus (R-AL) assured the commi that he was committed to working with
Representative Oxley from the Financial Services Committee on commercial bankruptcy
provisions and netting requirements.

eee End of message body
Message auditing by MicreData CAMEO Recon


From: Wolin, Neal

Sent: Thursday, February 21, 2002 1:10 AM
To: SearchCameo
Subject: CAMEO Recon found a word: Enron sent by Stem, Todd to Klasky, Helaine; Posner, Steven;

Smith, Michelle A., Weaver, Elizabeth; Gallagher, Una; Buck, Bill, Gensler, Gary, Sachs,
Lee; Stewart, Lawranne; Greene, Michelle; Wilcox, David; Elmendorf, Douglas: V

This message was found to have a Critical Word in it. Message Sent to Klasky, Helaine;
Posner, Stevens; Smith, Michelle A.; Weaver, Elizabeth; Gallagher, Unaz Buck, Bill;
Gensler, Gary; Sachs, Lee; Stewart, Lawranne; Greene, Michelle; Wilcox, David; Elmendorf,
Douglas; Vandivier, David; Sandberg, Sheryl: Cohen, Alan; Wolin, Neal; Moe, Martin, From
Stern, Todd, CC to , Date 1/12/2001 5:20:44 PM, Subject of message RE: wires - California
Power Talks

Word(s) found: Enron

sonen( Original Message-----

From: Stern, Todd

Sent: 1/12/2001 5:20:44 PM

Received: 1/12/2001 5:20:45 PM

To: Klasky, Helaine, EX: /O#USTREASURY/OUsDO/CN#RECIPIENTS/CN#KLASKYH
Posner, Steven, £X: /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=POSNERS
Smith, Michelle A., EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=SMITHM
Weaver, Elizabeth, EX: /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN@WEAVERE
Gallagher, Una, £X:/O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GALLAGHERU
Buck, Bill, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=BUCKW
Gensler, Gary, EX:/O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=GENSLERG
Sachs, Lee, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=SACHSL
Stewart, Lawranne, EX: /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=STEWARTLAW
Greene, Michelle, EX: /O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=GREENEMI
Wilcox, David, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CN@=WILCOXD
Elmendorf, Douglas, EX:/O=USTREASURY/OU*DO/CN=RECIPIENTS/CN*ELMENDORFD
Vandivier, David, EX: /O*USTREASURY/OU*DO/CN*RECIPIENTS/CN*VANDIVIERD
Sandberg, Sheryl, EX: /O-USTREASURY/OU+DO/CN+RECIPIENTS/CN+DOM3.DOPOS.SANDBERGS
Cohen, Alan, EX:/O=USTREASURY/OU*DO/CN@RECI PIENTS/CN*DOM3. DOPOS. COHENA
Wolin, Neal, EXt/O*USTREASURY/OU*DO/CN*RECIPIENTS/CN#WOLINN
Moe, Martin, EX:/O-USTREASURY/OU*DO/CN@RECI PIENTS/CN=DOM3.DOPOS.MOEM

ce:
Subject: RE: wires - California Power Talks
Body:

{(b)(5)]

Sent: Friday, January 12, 2001 4:41 PM

To: Posner, Steven; Smith, Michelle A.; Weaver, Elizabeth; Gallagher, Una; Buck, Bill;
Gensler, Gary; Sachs, Lee; Stewart, Lawranne; Greene, Michelle; Wilcox, David; Elmendorf,
Douglas; Vandivier, David; Sandberg, Sheryl; Stern, Todd; Cohen, Alan; Wolin, Neal; Moe,
Martin

Subject: RE: wires - California Power Talks

{(b)(5)}

-Original Message-----

From: Posner, Steven

Sent: Friday, January 12, 2001 4:29 PM

To: Smith, Michelle A.; Klasky, Helaine; Weaver, Elizabeth; Gallagher, Una; Buck, Bills
Gensler, Gary: Sachs, Lee; Stewart, Lawranne; Greene, Michelle; Wilcox, David; Elmendorf,



EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM13.DOPO7 .MIKRUTJ
Talisman, Jon,

EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM13.DOPO7. TALISMANT
Vandivier, David,

EX: /O*USTREASURY/OU=D0/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM13.DOPO7. VANDIVIERD
Walker, Deborah,

EX: /O@USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM13.DOPO7 .WALKERD
Atkinson, Caroline,

EX: /OUSTREASURY/OU*DO/CN*RECIPIENTS/CN*GROUPWISE/CN*DOM13.DOPO8 .ATKINSONC
Baukol, Andrew,

EX: /OUSTREASURY /OU*DO/CN*RECI PIENTS/CN#GRCUPW1SE/CN*DOM13.DOPOS . BAUKOLA
Budington, Michele,

EX: /OMUSTREASURY /OU*DO/CN+RECI PIENTS/CN*GROUPWISE/CN=DOM1 3. DOPOS . BUDINGTONM
Cetina, Jill,

EX: /OmUSTREASURY /OU=D0/CN=RECI PIENTS/CN=GRCUPWISE/CN=DOM13.DOPOS .CETINAJ
Chaves, Mary,

EX: /O*USTREASURY/OU=DO0/CN=RECI PIENTS/CN=GROUPWI SE/CN=DOM1 3. DOPOS . CHAVESM
Eichenberger, Joe,

EX: /O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM1 3. DOPOS . EICHENBERGERS
Fall, James, &X:/O=USTREASURY/OU=D0/CN=RECIPIENTS/CH=GROUPWISE/CN=DOM13, DOPOS. FALLJ
Geithner, Timothy,

EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM13.DO?PO8.GEITHNERT
Gelpern, Anna,

EX: /OUSTREASURY /OU=D0/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM13.DOPO .GELPERNA
John, James, EX:/O=USTREASURY/OU#DO/CN=RECIPIENTS/CN=GROUPWISE/CH=DOM13.DOPOS. JOHNT
Lee, Nancy, EX: /O*USTREASURY/OU*DO/CN*RECIPIENTS/CN*GROUPWISE/CN*DOM13.DOPO8. LEEN
Lowery, Clay,

EX; /O*USTREASURY /OU=DO/CN*RECI PLENTS/CN*GROUPWISE/CN#DOM13.DOPOS . LOWERYC
Ludden, Ken,

EX: /O*USTREASURY/OU*DO/CN*RECI PIENTS/CN*GROUPWISE/CN=DOM13.DOPOS . LUDDENK
Schuerch, William,

EX: /OmUSTREASURY/OU*DO/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM13. DOPOS . SCHUERCHM
Stedman, Louellen,

EX: /O=USTREASURY/OU=DO/CN=RECI PIENTS /CN=GROUPWISE/CN=DOM13,DOPO8.STEDMANL
Truman, Ted,

Ex: 1 ERROR CNSR Ee te ce ~DOPOS .TRUMANT
Walsh, Helen,

EX: /O=USTREASURY /OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM1 3. DOPOS .WALSHH
Alagiri, Priya,

EX: /O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM3, DOPOS.ALAGIRIP
Andrews, Lisa,

EX: /OPUSTREASURY/OU*DO/CN*RECIPIENTS/CN*GROUPWISE/CN*DOM3 , DOPOS.ANDREWSL
Arnold, Thomas,

EX: /OUSTREASURY/OU*DO/CN=RECI PIENTS/CN*GROUPWISE/CN*DOM3 , DOPOS .ARNOLDT
Bordoff, Jason,

EX: /OUSTREASURY/OU*DO/CN*RECI PIENTS/CN*GROUPWISE/CN*DOM3, DOPOS. BORDOFFJ
Cameron, Art,

EX: /OsUSTREASURY /OU=DO/CN=RECI PIENTS/CN=GRCUPWISE/CN=DOM3. DOPOS.CAMERONA
Carter, Jana,

EX: /O*USTREASURY /OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3, DOPOS.CARTERT
Cohen, Alan, EX:/O=USTREASURY/OQU=D0/CN=RECI PIENTS / CN=GROUPWISE/CN=DOM3. DOPOS , COHENA
Comstock, Neal,

EX: /O@USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3, DOPOS. CONSTOCKN
Decker, Larry,

EX: /O*USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3 . DOPOS. DECKERL
Desler, Anne,

EX: /O*USTREASURY /OU=DO/CN*RECI PIENTS/Ch*GROUPWISE/CN=DOM3. DOPOS. DESLERA
Egolf, Brian, EX: /O=USTREASURY/OU=DO/CN#RECI PIENTS/CN=GROUPWISE/CN=DOM3. DOPOS. EGOLFB
Eigenstat, Stuart,

EX; /O-USTREASURY/OU+DO/CN+RECI PIENTS/CN+GROUPWISE/CN+DOM3. DOPOS. EIZENSTATS
Fant, William, EX: /O=USTREASURY/OU*DO/CN*RECIPIENTS/CN=GROUPWISE/CN*DOM3.DOPOS. FANTW
Flanders, Stephanie,

EX: /OUSTREASURY/OU*DO/CN*RECI PIENTS/CN*GRCUPWISE/CN“DOM3. DOPOS. FLANDERSS
Gathers, Shirley,

EX: /OmUSTREASURY /OU=DO0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3. DOPOS.GATHERSS
Grayson, Cherry,


2ITICKER: PCG EIX

SUBJECT: CRUD COBO MU ENER UTIL USA
Copyright (c) 2001 Reuters

Received by NewsEDGE/LAN: 1/12/01 3:24 PM

=DJ POWER POINTS: By The Numbers, Calif Pwr Deal Looks Good
Dow Jones International News Service via Dow Jones

By Mark Golden
A Dow Jones Newswires Column

NEW YORK (Dow Jones)--Grandstanding by negotiators in Washington, D.C., on the
California electricity crisis indicates the sides are too far apart for an
agreement this weekend, but the actual numbers involved ra the question: How
can they not get this done?

California Gov, Gray Davis, on behalf of the utilities that contribute so
generously to his campaign funds, is demanding three-year supply contracts at
5.5 cents a kilowatt-hour. “We've got to stop the hemorrhaging of utility cash,
but I can't possibly have another rate increase or any state bailout,” the
governor is saying.

According to sources, U.S. Treasury Secretary Lawrence Summers and the
generating company chief executives looked at Davis with a "What are you
amoking?"” expression several times Tuesday night. The generators’ stance is that
the market price is 8.5 cents/kwh and only if the contracts run for eight years.

But that's all just negotiating position. The customers of Edison
International's (EIX} Southern California Edison currently pay the company 7.6
cents/kwh just for energy. That price includes last week's one-cent raise, but
not other charges such as transmission and distribution.

Edison generates half the power it needs at a cost of about 3 cents/kwh. So,
purchasing the other half at 5.5 cents/kwh would do a lot more than stop the
hemorrhaging. If the cost of purchased power were 5.5 cents, Edison's average
cost would be 4.3 cents, for which they are getting paid 7.6 cents. That 3.3
cents/kwh profit on the 83 billion kwh Edison sells a year comes to a whopping
$2.7 billion annually. End of credit problem.

PGGE Corp.'s (PCG) situation is more difficult. Their customers pay less for
electricity, and PGSE only generates a third of its own power, but they have
lower generating costs than Edison. Bottom line: if PG&E could buy supplies at
5.5 cents/kwh, they would be left with 1.9 cents/kwh profit.

Unfortunately for the utilities, California independent generators, such as
Reliant Energy (REI), NAG Energy (NRG), Dynegy (DYN), Southern Energy (SOE) and
Duke Energy (DUK), can't get their prices down to 5.5 cents/kwh in California
given the current market price of natural gas.

But they don't need anything close to 8.5 cents for eight yea The forward
price for wholesale power in California for the balance of this year is 18
cents/kwh for the on-peak hours, which is what the utilities mostly need to buy,
The on-peak price drops to 11 cents/kwh for a three-year contract because new
generators and new gas supplies are expected to come on line. For an eight-year
contract, the price dropa te about 7,3 cents/kwh.

At 7.3 cents, PG&E would be heading to bankruptcy court. But the generators
will get to sell PG&E some off-peak power, too, which brings the average price
down a little further. If the governor guarantees really quick licensing for a
couple of new power plants in northern California, the price comes down a lot.

What's more, to save derequlation in the U.S. the generators are willing to


EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS /CN=GROUPWISE/CN=DOM3. DOPOS.GRAYSONC
Harvey, Reavie,
EX: /O@USTREASURY/OU=D0/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM3, DOPOS , HARVEYR
Herold, Valerie,
EX: /O*USTREASURY/OU=D0/CN=RECI PIENTS/CH=GROUPWISE/CN=DOM3. DOPOS.HEROLDV
Johnson, Linda,
EX: /OUSTREASURY /OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3, DOPOS. JOHNSONL
Jones, Janet,
EX: /OUSTREASURY /OU*DO/CN*RECIPIENTS/CN*GROUPWISE/CN*DOM3 . DOPOS. JONESJA
Joseph, Verlene,
EX: /OUSTREASURY/OU*DO/CN*RECI PIENTS/CN#GRCUPW1SE/CN*DOM3. DOPOS. JOSEPHV
Keene, Carolyn,
EX: /OMUSTREASURY/OU*DO/CN*RECI PIENTS/CN*=GROUPWISE/CN*DOM3 . DOPOS. KEENEC
Keller, Alan,
EX: /OsUSTREASURY /OU=DO0/CN=RECI PIENTS/CN=GRCUPWISE/CN=DOM3, DOPOS. KELLERJ
Kim, Carol, EX:/OsUSTREASURY/OU=DO/CN=RECIPIENTS/CN=GROUPWISE/CH=DOM3.DOPOS.KIMCA
Klasky, Helaine,
EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3, DOPOS. KLASKYH
Levine, Marne,
EX: /OSUSTREASURY/OU=D0/CN=RECI PIENTS/CH=GROUPWI SE/CN=DOM3, DOPOS. LEVINEM
Longbrake, John,
EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWI SE/CN=DOM3, DOPOS. LONGBRAKEJ
luce, Ed, EX:/O=USTREASURY/OU=DO/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3.DOPOS. LUCEE
Matera, Cheryl,
EX: /O*USTREASURY /OU=DO/CN*RECI PIENTS/CN=GROUPWISE/CN=DOM3. DOPOS.MATERAC
McAuliffe, Laura,
EX: /OUSTREASURY/OU=DO/CN+RECI PIENTS/CN=GROUPWISE/CN#DOM3. DOPOS.MCAULIFFEL
Mejia, Annabella,
EX: /OUSTREASURY /OU*DO/CN*RECI PIENTS/CN#GROUPWISE/CN#DOM3. DOPOS.MEJIAA
Moore, Holly, EX: /O-USTREASURY/OU*DO/CN*RECIPIENTS/CN*GROUPWISE/CN*DOM3. DOPOS.MOOREH
Muldoon, Lara,
EX: /OmUSTREASURY /OU=DO/CN=RECI PIENTS/CN@GROUPWISE/CN=DOM3 . DOPOS.MULDOONL
Nisanci, Didem,
EX: /O=-USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3, DOPOS .NISANCID
Powell, Linda,
EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3, DOPOS. POWELLL
Robertson, Linda,
EX: /O=USTREASURY /OU=DO/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3, DOPOS. ROBERTSONL
Sandberg, Sheryl,
EX: /O=USTREASURY /OU=D0/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM3, DOPOS. SANDBERGS
Smith, Michelle A.,
EX: /OPUSTREASURY/OU*DO/CN*RECIPIENTS/CN*GROUPWISE/CN*DOM3, DOPOS. SMITHM
Starks, Ora, EX: /O=USTREASURY/OU=DO/CN#RECI PIENTS/CN=GROUPWISE/CN*=DOM3.DOPOS. STARKSO
Stern, Todd, EX: /O=USTREASURY/OU“DO/CN=RECIPIENTS/CN*GROUPWISE/CN=DOM3.DOPOS. STERNT
Summers, Larry,
EX: /OUSTREASURY/OU=DO/CN*RECI PIENTS/CN*GROUPWISE/CN*DOM3, DOPOS. SUMMERSL
Toohey, Frank,
EX: /OmUSTREASURY/OU=D0/CN=RECI PIENTS/CN=GRCUPWISE/CN=DOM3. DOPO5. TOOHEYP:
Valentic, Marsha,
EX: /O*USTREASURY/OU=D0/CN=RECI PIENTS /CN=GROUPWISE/CN=DOM3, DOPOS. VALENTICM
Barber, Francine,
EX: /O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=GRCUPWISE/CN=DOM3. DOPOG. BARBERF
Barbour, Gaylen,
EX: /O=USTREASURY /OU=D0/CN=RECI PIENTS/ CN=GROUPWISE/CN=DOM3. DOPOG. BARBOURG
Bieger, Peter,
EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3, DOPOG. BIEGERP
Carro, Richard,
EX: /O*USTREASURY/OU=DO/CN®RECI PIENTS/CN°GROUPWISE/CN=DOM3 . DOPO6.CARROR
Cohen, David, EX: /O*USTREASURY/OU*DO/CN*RECIPIENTS/CN*GROUPWISE/CN*DOM3. DOPOG.COHEND
Edsall, Alexandra,
EX: /OUSTREASURY /OU*DO/CN*RECI PIENTS/CN*GROUPW1SE/CN#DOM3. DOPO6. EDSALLA
Greene, Michelle,
EX: /O*USTREASURY/OU*DO/CN*RECIPIENTS/CN*GRCUPWISE/CN~DOM3 . DOPO6. GREENEMI
Joy, David, EX: /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN#GROUPWISE/CN=DOM3. DOPO6. JOYD
Kellogg, Cliff,
EX: /O*USTREASURY /OU=DO/CNeRECI PIENTS /CN@GROUPWISE/CN=DOM3 . DOPOG. KELLOGGC



"RMK4@pge.com', SMTP:RMK4@pge.com

*joebob-perkins' liantenergy.com', SMTP: joebob-perkins@reliantenergy.com
*marvin_k_ballar ntenergy.com', SMTP:marvin_k_ballard@reliantenergy.com
"WHcCrea@sablaw.com', SMTP: KMcCrea@sablaw.com

"fieldejrésce.com’, SMTP: fieldejr@sce.com

“harold. cay@sce,com', SMTP:harold. cay@sce.com

"dreed@sdge.com', SMTP:dreed@sdge.com

*weakaria@sdge.com', SMTP:wsakaria@sdge.com

*rahayes@seivorldwide.com', SMTP: rahayes@seiworldwide.com
"sj}capoma@selworldwide.com', SMTP:sjcapoma@seiworldwide.com
"mtierney@sempra.com', SMTP:mtierney@sexpra.com
*sonnet.edmonds@southernenergy.com', SMTP:sonnet.edmonds@southernenergy. com
"cread@steptae.com', SMTP: creadSsteptoe.com

*temoreland@swidlaw.com', SMTP: temorelandfswidlaw.com
*julie.greenisen@troutmansanders.com', SMIP:julie.greenisen@troutmansanders.com
ba SMTPralex.goldberg@williams.com

.

’ (>)(6)) EX: /O=USTREASURY/OU=DO/CN=RECI PIENTS/CN=Groupwise/cn=Treasury.DOPO.ADMIN
‘ronald_minsk@opd.eop.gov', SMTP: ronald_minsk@opd.eop.gov

*4mdonnell Gduke-energy.com', SMTP: jmdonnell@duke-energy.com
"hjpodewerfduke-energy.com', SMTP: hjpodewer@duke-energy.com
*bbailey@duke-energy.com’, SMTP:bbailey@duke-energy.com
*njdeschane@duke-energy.com', SHTP:njdeschane@duke-energy.com
“wihall@duke-energy.com', SMTP: wfhall@duke-energy.com
*abvanleer@duke-energy.com', SMTP: sbvanleer@duke-energy.com

"rmk4@pge.com', SMTP: rmk4@pge.com

"ddrO08pge.com', SMTP:ddr08pge.com

"r}p2@pge.com', SMTP: rjp28pge.com

“starckle@sce.com', SMTP:starckle@sce.com

*John.gammie@williams.com', SMTP: john.gammie@williams.com
*reharris@seiworldwide.com', SMTP: reharris@seiworldwide.com

jeiworldwide.com',
"dimiller@seiworldwide.com', SMTP:dlmiller@seiworldwide.com
*jwholden@seiworldwide.com', SMTP: jwholden@seiworldwide.com
*richard.shapiro@enron.com’, SMTP: richard.shapiro#fenron.com
‘robert.badeerfenron.com', SMI'P:robert.badeer@enron.com

cc: Barbour, Gaylen, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=BARBOURG
"Curtis Wagner’, SMTP: curtis.wagner€ferc. fed.us

Subject: RE: California Energy Group e-mail TEST MESSAGE
Body:

onause End of message body

Message auditing by MicroData CAMEO Recon


------ End of message body
Message auditing by MicroData CAMEO Recon


From: Constantine, Eleni
Sent: Wednesday, February 20, 2002 8:29 PM
To: SearchCameo

CAMEO Recon found a word: Enron, Jeff Skilling sent by Constantine, Eleni to Granat,
Rochelle on 3/15/2001 6:06:53 PM

This message was found to have a Critical Word in it. Message Sent to Granat, Rochelle,
From Constantine, Eleni, CC to McInerney, Roberta, Date 3/15/2001 6:06:53 PM, Subject of
message FW: Enron Meeting Request

Word(s) found: Enron, Jeff Skilling

Fromt Constantine, Eleni

Sent: 3/15/2001 6:06:53 PM

Received: 3/15/2001 6:06:53 PM

To: Granat, Rochelle, EX: /O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=GRANATR

cc: McInerney, Roberta, EX:/O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=MCINERNEYR

Subject: Fu; Enron Meeting Request
Body:

FYI

concn Original Message-----

From: Paulus, Michael

Sent: Thursday, March 15, 2001 6:02 PM
To: McInerney, Roberta; Constantine, Eleni
Subject: FW: Enron Meeting Request

Please see below. Any thoughts?
women Original Message-----

From: Ellis, Dina
Sent: Thursday, March 15, 2001 5:59 PM

To: Fisher, Peter; Paulus, Michael; Carleton, Norman
Cc: Gross, Jared
Subject: RE: Enron Meeting Request

seems ck to me,..should be run through GC.

-~Original Message-----

From: Fisher, Peter

Sent: Thursday, March 15, 2001 5:31 PM

To: Paulus, Michael; Ellis, Dina; Carleton, Norman
Ce: Gross, Jared

Subject: RE: Enron Meeting Request

I also see no reason to object.

Original Message
From: Paulus, Michael

Sent: Thursday, March 15, 2001 5:27 PM

To: Ellis, Dina; Fisher, Peter; Carleton, Norman
Ce: Gross, Jared

Subject: Enron Meeting Request

Jeff Skilling, President and CEO of Enron has requested a meeting with the Secretary for
April 5 to discuss the West Coast energy crisis. I see no reason to object. Thoughts?


Ce: Gaylen.Sarbourfdo.treas.govs curtis.wagner@ferc. fed.us
Sent: 1/12/01 2:51 PH
Subject: RE: California Energy Group e-mail TEST MESSAGE

<<Final ptl.doc>> <<Final pt2.doc>>

pean End of message body

Message auditing by MicroData CAMEO Recon


From: Wilcox, David

Sent: Thursday, February 21, 2002 12:47 AM
To: SearchCameo
Subject: CAMEO Recon found a word: Enron sent by Martha Altamar to alexm@calpine.com;

jmacias@calpine com, Joon 5st. e0p gov, shg@cpuc ca gov,
Chris. Soares@do treas.gav, David. Wilcox@@do.treas.gov; Lee. Sachs@do.treas.gov;

This message was found to have a Critical Word in it. Message Sent to alexm@calpine.com;
jmacias@calpine.com; jason_s. seligmanfcea.eop.gov; shg@cpuc.ca.gov;
Chris.Soares@do.treas.gov; David.Wilcox@de.treas.gov; Lee. Sachs@do.treas.gov;
Michelle.Greene@do.treas.gov; Ray. Squitieri@do.treas.gov; Veronica.Stokes@do.treas.gov;
eisenstatl@DSMO.com; sbvanleer@duke-energy.com; joel. newton@dynegy. com;

lynn. lednicky@dynegy.com; smarafenron.com; Linda Lee;
dan.poffenberger$ferc.ged.us.treas.gov; pmohler@hewm.com; richard. glick@hq.doe.gov;
smutany@iepa.com; karen.tomcala§pge-corp.com; cxg2@pge.com; DxH4@pge.com; RMK4@pge. com;
joehob-perkins@reliantenergy.com; marvin_k_ballard@reliantenergy.com; KMcCrea@sablaw.com
fieldejr@sce.com: harold,ray@sce.com; dreed@sdge.com: wsakariabsdge,com:
rahayes@seiworldwide.com; sjcapoma@seiworldwide.com; mtierney@sempra.com:
sonnet.edmonds@southernenergy.com; cread@steptoe.com: temorelandi bey”

julie. greenisen@troutmansanders,com: aren colamergeniliens rene il

From Martha Altamar, CC to Gaylen,Barbour@do.treas.gov: Curtis Wagner, Date 1/12/2001
9:26:23 AM, Subject of message RE: California Energy Group e-mail

Word(s) found: Enron

weno ‘Original Message----~-

From: Martha Altamar

Sent: 1/12/2001 9:28:23 AM

Received: 1/12/2001 9:26:14 AM

To: alexm§calpine.com, SMTP:alexm@calpine.com
jmacias@calpine.com, SMTP: jmacias@calpine.com
jason_s._seligmanfcea.cop.gov, SMTP:jason_s._seligman@cea.eop.gov
shg@cpuc.ca.gov, SMTP: shg@cpuc.ca.gov
Chris.Soares@do.treas.gov, SMIP:Chris.Soares@do.treas.gov
David.Wilcox@do.treas.gov, SMTP:David.Wilcox@do.treas.gov
Lee, Sachs@do.t gov, SMTP:Lee.Sachs@do.treas.gov
Michelle.Greene@do.treas.gov, SMTP:Michelle.Greene@do.treas.gov
Ray. Squitieri@de.treas.gov, SUTP:Ray.Squitieri@do.treas.gov
Veronica, Stokes@do.treas.gov, SMTP: Veronica. Stokes@do.treas. gov
eisenstatl@DSMO.com, SMTP:eisenstatl@DSMO.com
sbvanleer@duke-energy.com, SMTP: sbvanleer@duke-energy.com
jJoel.newton@dynegy.com, SMTP: joel.newton@dynegy.com
ly ednicky@dynegy.com, SMTP:lynn. lednicky@dynegy.com
smara@enron.com, SMTP: smaraGenron.com
Linda Lee, SMTP: linda. lee®ferc. fed.us
dan.poffenberger@ferc.ged.us.treas.gov, SMTPidan.poffenberger@ferc.ged.us.treas.gov
pmohler@hewm.com, SMTP:pmohler@hewn. com
richard.glick@hq.doe.gov, SMTP:richard.glick@hq.doe.gov
smutany@iepa.com, SMTP:smutany@iepa.com
karen.tomcala@pge-corp.com, SMTP: karen. tomcalalpge-corp.com
exgZz@pge.com, SMTP: cxg2@pge.com
DxH4@pge.com, SMTP: DxH4@pge.com
RMK4@pge.com, SMTP: RMK4@pge.com
joebob-perkins@reliantenergy.com, SMTP: joebob-perkins@reliantenergy.com
marvin _k ballard@reliantenergy.com, SMTP:marvin_k ballard@reliantenergy,com
KMcCrea@sablaw.com, SMTP:KMcCrea@sablaw.com
fieldejr@sce.com, SMTP: fieldejrasce.com
harold. ray@sce.com, SMTP:harold. ray@sce.com
dreed@sdge.com, SMTP:dreed@sdge.com
waakaria@sdge.com, SMTP:wsakaria@sdge.com
rahayes@neiworldwide.com, SMTP: rahayes@seiworldwide.com



possibly work,” said Eugene Coyle, a former utility securities analyst,
economist and early opponent of deregulation. "There were poorly
thought-out specifics.”

In the early 1990s, businesses were fleeing the state amid the worst
economic times since the Great Depression. Energy rates were 50 percent
higher than they were on average across the nation, because of commitments
to more expensive, environmentally friendly power and cost overruns for
nuclear power plant construction.

Large customers such as steel makers, mining concerns and cement
makers, for which electricity costs make up 25 percent of their overhead, saw that
independent power producers were offering power much more cheaply. They
began to insist on change.

The United States had deregulated long-distance telephone service,
airlines and a host of other industries, often with resulting competition
that was a boon to consumers. Why not do the same for electricity?

So California embarked on a pioneering experiment. In 1993 and 1994,
the California Public Utilities Commission began to draft such a policy. It
allowed large users to buy power directly from independent producers and
froze customer rates at artificially high levels so utilities could
secover their investments in costly plants.

The utilities sought te have the terms codified in law, and in early
1996, a number of bills were introduced in the Legislature to do so.

> Some observers say that what happened next contributed to the overall
plan's flaws, Months passed while the discussion meandered and faltered,
and at one point it even appeared that no law would be passed.

That's when state Sen. Steve Peace took the reins and tried to make
something happen.

The San Diego legislator already had won the respect of his colleagues
for his work on another complex piece of legislation, reform of the workers’
compensation system,

During a hurried two-week conference in August -- dubbed the “Steve
Peace death march” for his propensity to keep negotiators at the table late into
the night -- the fine points of the energy law were hashed out.

Legislators entrusted their judgment to Peace and the few colleagues
who worked on the bill. There was an abiding sense by a number of participants
that few members of either house knew what was in the bill or even
understood it. It was passed by both houses of the Legislature unanimously
and signed into law the following month,

“People were grateful to Peace and (former Sen. Diane) Martinez for
taking it on,” said Debra Bowen, D-Los Angeles, the current chair of the Senate
energy committee. “Historically, utilities were a pretty boring topic, and
I think term limits factored into it.”

The law was to end the monopolistic control that utilities held over
beth power production and supply by requiring them to sell off their
generators. It set rates artificially high so they could recover money
from bad investments. And it gave them nearly two years to prepare for
competition.

Moreover, residential customers would be granted an immediate 10
percent rate cut.

The system took effect April 1, 1998, and, at first, things seemed to
work well. Soon, though, there were warning signs.

It turned out the residential rate cut was actually going to be
financed with $7.5 billion in bonds that customers had to pay off, So the reduction
in real terms was closer to only 3 percent, not 10 percent.

Then in early 1999, the California Energy Commission, which tracks the
state's supply and demand, was warning of coming supply shortfalls.

Demand was skyrocketing, the agency pointed out in a Senate energy
committee hearing, and no new significant generation had been built in a
decade. Without more power, California was going to run out. But
construction of new power plants takes at least two years from start to
finish, and the state was already running behind in accommodating the
growth.

Back in the early 1990s, however, the energy commission had painted a
far different picture. At that time, California had an oversupply of power,
perhaps as much as 30 percent more than it needed.

There was so much that when the utilities commission set up an auction

VVVV VV VV VV VV VV


McHale, Stephen,

EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS /CN=GROUPWISE/CN=DOM3, DOPOG,MCHALES
McInerney, Roberta,

EX: /O=USTREASURY /OU=D0/CN=RECI PIENTS/ CN=GROUPWISE/CN=DOM3 . DOPO6 .MCINERNEYR
Sachs, Lee, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=GROUPWISE/CH=DOM3. DOPO6. SACHSL
Wolin, Neal, EX:/O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM3. DOPO6. WOLINN
ex.mail.JONESM, GWISE:ex.mail.JONESM
ex.mail.VJORSTAD, GWISE:ex.mail.VJORSTAD
Adashek, Jonathan, EX: /O=USTREASURY/CU*DO/CN*RECIPIENTS/CN*ADASHEKI
Affleck-Smith, Joan, EX: /O-USTREASURY/OU=DO/CN=RECIPIENTS/CN=AFFLECK-SMITH
Baer, Gregory, EX: /O*USTREASURY/OU*DO/CN*RECIPIENTS/CN*BAERG
Barr, Michael, EX: /O-USTREASURY/OU*DO/CN*RECIPIENTS/CN=BARRM
Bell, Rochelle, EX: /O-USTREASURY/OU=DO/CN*RECIPIENTS/CN*BELLR
Beresik, Michael, EX: /O=USTREASURY/OU=DO/CN#RECIPIENTS/CN=BERESIKX
Bresee, Elisabeth, £X:/O=sUSTREASURY/CU=DO/CN=RECIPIENTS/CN=BRESEEE
DeMarco, Edward, EX: /O=USTREASURY/OU=DO/CN#RECIPIENTS/CN=DEMARCOE
Foote, Norman, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CW=FOOTEN
Gensler, Gary, EX:/O=USTREASURY/OU=DO0/CN=RECIPIENTS/CN=GENSLERG
Johnson, James, £X:/O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=JOHNSONJE
Lebryk, David, EX:/O=USTREASURY/OU=DO0/CN=RECIPIENTS/CN=LEBRYKD
Ross, Lisa, EX:/O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=ROSSL

pasecks Thanks -Reply
Body? [OUTSIDE SCOPE]

>>> Linda Robertson 11/03/00 64:31pm >>>

[OUTSIDE SCOPE]

I will be starting work next Monday at Enron. When I have my new telephone
number, E-mail, and mailing info, I will have Janet forward it to you. In the

meantime, my home telephone number £: [(0)6)) + Again, thank you very
much for being a part of my professional °

Seto End of message body
Message auditing by MicroData CAMEO Recon


From: Squitieri, Ray

Sent: Thursday, February 2, 2002 12:19 AM

To: SearchCameo
CAMEO Recon found a word: Enron sent by Flanagan, Rosemary to Summers, Larry on
12/15/2000 11:41:30 AM

calif elec Krugman:
dw 1215.doe...
This meseage was found to have a Critical Word in it. Message Sent to

Summers, Larry, From Flanagan, Rosemary, CC to Wilcox, David; Sandberg, Sheryl; Moe,
Martin; Vandivier, David; Squitieri, Ray; Auten, John; Mendershot, Karen; Cononi, Rachel;
Flynn, Timothy, Date 12/15/2000 11:41:30 AM, Subject of message Paul Krugman’s Claims
about the California Power Market

Word(s) found: Enron

Seatabeten ‘Original Message----~

From: Flanagan, Rosemary

Sent: 12/15/2000 11:41:30 AM

Received: 12/15/2000 11:41:30 AM

To: Summera, Larry, EX: /O*USTREASURY/OU=00/CN*RECIPIENTS/CN=SUMMERSL

ce: Wilcox, David, EX: /O-USTREASURY/OU-DO/CN+RECIPIENTS/CN=WILCOXD
Sandberg, Sheryl, EX: /O-USTREASURY/OU=DO/CN*RECIPIENTS/CN*DOM3.DOPOS.SandbergS
Moe, Martin, EX! /O-USTREASURY/OU#DO/CN*RECIPIENTS/CN=DOM3.DOPOS.MoeM
Vandivier, David, EX: /O-USTREASURY/OU=DO/CN=RECIPIENTS/CN*VandivierD
Squitieri, Ray, EX: /OsUSTREASURY/OU=D0/CN«RECIPIENTS/CN«SQUITIERIR
Auten, John, EX: /O=USTREASURY/OU=DO/CN=RECI PIENTS/CN#AUTEND
Hendershot, Karen, &X:/O=USTREASURY/OU=DO/CN=RECI PIENTS/CN=HENDERSHOTK
Cononi, Rachel, EX: /O=USTREASURY/OU<=DO/CN=RECI PIENTS/CN=CONONIR
Flynn, Timothy, £X:/O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=FlynnT

Subject: Paul Xrugman’s Claims about the California Power Market
Body:

The attached note, prepared by Ray Squitieri, analyzes statements made by Paul Krugman
recently about the California market for electricity. It will be particularly relevant
background for a call from the CEO of Enron, should that occur.

cooeee End of message body

Message auditing by MicroData CAMEO Recon


From: Squitieri, Ray

Sent: Thursday, February 21, 2002 12:18 AM
To: SearchCameo
Subject: CAMEO Recon found a word: Enron sent by Soares, Chris to Squitieri, Ray on 4/25/2001

5:28:52 PM

This message was found to have a Critical Word in it. Message Sent to Squitieri, Ray,
From Soares, Chris, CC to , Date 4/25/2001 5:28:52 PM, Subject of message RE: EPA-03~A,
EPA's response to Dingell's letter on Barton's draft leg “Electricity Emergency Relief Act

Word(s) found: Enron

From: Soares, Chris

Sent: 4/25/2001 5:28:52 PM

Received: 4/25/2001 5:28:52 PM

To: Squitieri, Ray, £X:/O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=SQUITIERIR

ce:

Subject: RE: EPA-03-A, EPA's response to Dingell’s letter on Barton's draft leg
“Electricity Emergency Relief Act

Body:

Emissions trading crossed my mind briefly yesterday as I was reading an article about
restarting old plants. {(b)(5)]

Copyright 2001 / Los Angeles Times

Los Angeles Times

April 17, 2001, Tuesday, Home Edition

SECTION: Metro; Part B; Page 1; Metro Desk

LENGTH: 1429 words

HEADLINE: INNOVATIVE SMOG PLAN MAKES LITTLE PROGRESS;

AIR QUALITY: AFTER EIGHT YEARS, THE SOUTHLAND'S PROGRAM ALLOWING FIRMS TO TRADE


From: ‘Squitier
Sent: Thursday, February 21, 2002 12:18 AM
SearchCameo

CAMEO Recon found a word: Enron sent by Gross, Jared to Squitieri, Ray on 4/5/2001
1:28:33 PM

This message waa found to have a Critical Word in it. Message Sent to Squitieri, Ray,
From Gross, Jared, CC to , Date 4/5/2001 1:28:33 2M, Subject of message RE: memo to
Secretary on follow-up questions

Word(s) found: Enron

From: Gross, Jared

Sent: 4/5/2001 1:28:33 2M

Received: 4/5/2001 1:28:33 PM

To: Squitieri, Ray, £X:/O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=SQUITIERIR

ce:

Subject: RE: memo to Secretary on follow-up questions

Body:

The typo comments are fine (I assume that you have already made them). I haven't found
anything to provide the type of analysis Rachel suggests... do you know of anything ?((b)(5)]

{(b)(5)]

wooo ‘Original Message-----

From: Squitieri, Ray

Sent: Thursday, April 05, 2001 1:16 PM

To: Gross, Jared

Subject: Fu: memo to Secretary on follow-up questions

Here are several comments by Rachel. Would you read them, decide whether any changes are
ary to your section, and if so send me a new version? Thanks.

amon Original Measage-~-~-~

From: Cononi, Rachel

Sent: Tuesday, April 03, 2001 9:55 AM

To: Squitieri, Ray

Subject: memo to Secretary on follow-up questions

Ray,

1 found a couple of typos on the second page of energy derivatives memo. I hadn't seen
thia one before. [t's a great overview of how energy derivatives markets work. (by)

<< File: NEP ONeill 3 follow up Qs 0330.doc >>

~ End of message body

Message auditing by MicroData CAMEO Recon


POLLUTION CREDITS HAS FALLEN WELL BELOW EXPECTATIONS. IDEAS TO FIX IT ARE MIRED
IN CONTROVERSY,
BYLINE: GARY POLAKOVIC, TIMES ENVIRONHENTAL WRITER

BODY:

It was supposed to be a revolutionary way to clean up the environment, a
business-friendly strategy to slash industrial emissions without the heavy hand
ef government.

But the Southland’s market basket experiment has been a serious

disappointment.

The Regional Clean Air Incentives Market, or RECLAIM, has fallen well short

of expectations. Eight years into the program, smog cuts have been minimal,
companies are failing to meet pollution reduction targets, and proposals to
rescue the operation are mired in controversy.

Manufacturers, power plants and refineries have reduced emissions by a scant
16#--much less than was anticipated by this time. Businesses were given 10 years
to eliminate about 13,000 tons of pollution annually, but as the program nears
its end they have eliminated just 4,144 tons, according to projections by the
South Coast Air Quality Management District,

Over the course of the program, the AQMD has received a trickle of
applications from companies to upgrade pollution control capacity. Air quality
officials say that if the number of retrofits doesn't dramatically increase, the
program will fail.

So little pregresa has been made that the AQMD ia now telling businesses to
slash their air pollution at more than twice the rate they have over the last
seven years. Meanwhile, the agency estimates that industry will emit an extra
3,373 tons of health-threatening pollutants into the air this year, 14% more
than it is allowed under the program.

Business representatives are divided in their reactions to the program.

PAGE 2

Los Angeles Times April 17, 2001, Tuesday,

"We're going to see the benefits of RECLAIM. It's just taking a little longer
than we expected," said Bill Quinn, vice president of the California Council for
Environmental and Economic Balance, which represents business and labor groups.
But some companies are resisting pressure to reduce emissions. Some seek to
eliminate the penalty they risk if they pollute beyond their limits, Others
would like te escape the program entirely by paying a fee of $ 7.50 per pound of
pollution, no matter how much smog they make. Many busines: insisting on a
fresh infusion of credits in return for cleaning up cars, boats and trucks
instead of factories, smelters and refineries.

RECLAIM “hasn't done as well as the regulations it replaced," said Mike
Scheible, deputy executive officer for the state Air Resources Board. "I don't
think it has worked yet to achieve the emission-reduction goals that it set out
to do. The reductions we've anticipated have been delayed and won't be achieved
for a couple more years.”

The program was launched in 1993 as the first market-driven system to clean
urban air and quickly became a model for others around the world. The Los
Angeles-area program, which relies on a system of trading pollution credits, was
supposed to cut industrial pollution by stimulating technological innovation and
reducing burdensome new costs on busines.
Nearly 400 companies participate, including Walt Disney Co., ExxonMobil Corp.
and Northrop Grumman Corp.

Each facility receives a certain number of credits representing a pound of
pollution. Companies that do not pollute to maximum allowable levels can sell
credits to firms that emit more than their limits. The total credit supply
shrinks about @* annually for a decade, thus trimming pollution.

The program was seriously compromised when power producers in the Los Angeles
region operated far beyond pollution limits last year. Power companies gobbled
emissions credits as they increased production to keep the lights on. That
caused a pollution credit shortage.

The market price of a credit soared as demand outstripped supply. A credit

for one pound of nitrogen oxide gas that cost an average of 25 cents in the
early years of the program climbed to more than $ 50 late last year. Nitrogen
oxide contributes to ozone and haze, the main ingredients in amog.



EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS /CN=GROUPWISE/CN=DOM3. DOPOS.GRAYSONC
Harvey, Reavie,
EX: /O@USTREASURY/OU=D0/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM3, DOPOS , HARVEYR
Herold, Valerie,
EX: /O*USTREASURY/OU=D0/CN=RECI PIENTS/CH=GROUPWISE/CN=DOM3. DOPOS.HEROLDV
Johnson, Linda,
EX: /OUSTREASURY /OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3, DOPOS. JOHNSONL
Jones, Janet,
EX: /OUSTREASURY /OU*DO/CN*RECIPIENTS/CN*GROUPWISE/CN*DOM3 . DOPOS. JONESJA
Joseph, Verlene,
EX: /OUSTREASURY/OU*DO/CN*RECI PIENTS/CN#GRCUPW1SE/CN*DOM3. DOPOS. JOSEPHV
Keene, Carolyn,
EX: /OMUSTREASURY/OU*DO/CN*RECI PIENTS/CN*=GROUPWISE/CN*DOM3 . DOPOS. KEENEC
Keller, Alan,
EX: /OsUSTREASURY /OU=DO0/CN=RECI PIENTS/CN=GRCUPWISE/CN=DOM3, DOPOS. KELLERJ
Kim, Carol, EX:/OsUSTREASURY/OU=DO/CN=RECIPIENTS/CN=GROUPWISE/CH=DOM3.DOPOS.KIMCA
Klasky, Helaine,
EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3, DOPOS. KLASKYH
Levine, Marne,
EX: /OSUSTREASURY/OU=D0/CN=RECI PIENTS/CH=GROUPWI SE/CN=DOM3, DOPOS. LEVINEM
Longbrake, John,
EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWI SE/CN=DOM3, DOPOS. LONGBRAKEJ
luce, Ed, EX:/O=USTREASURY/OU=DO/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3.DOPOS. LUCEE
Matera, Cheryl,
EX: /O*USTREASURY /OU=DO/CN*RECI PIENTS/CN=GROUPWISE/CN=DOM3. DOPOS.MATERAC
McAuliffe, Laura,
EX: /OUSTREASURY/OU=DO/CN+RECI PIENTS/CN=GROUPWISE/CN#DOM3. DOPOS.MCAULIFFEL
Mejia, Annabella,
EX: /OUSTREASURY /OU*DO/CN*RECI PIENTS/CN#GROUPWISE/CN#DOM3. DOPOS.MEJIAA
Moore, Holly, EX: /O-USTREASURY/OU*DO/CN*RECIPIENTS/CN*GROUPWISE/CN*DOM3. DOPOS.MOOREH
Muldoon, Lara,
EX: /OmUSTREASURY /OU=DO/CN=RECI PIENTS/CN@GROUPWISE/CN=DOM3 . DOPOS.MULDOONL
Nisanci, Didem,
EX: /O=-USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3, DOPOS .NISANCID
Powell, Linda,
EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3, DOPOS. POWELLL
Robertson, Linda,
EX: /O=USTREASURY /OU=DO/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3, DOPOS. ROBERTSONL
Sandberg, Sheryl,
EX: /O=USTREASURY /OU=D0/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM3, DOPOS. SANDBERGS
Smith, Michelle A.,
EX: /OPUSTREASURY/OU*DO/CN*RECIPIENTS/CN*GROUPWISE/CN*DOM3, DOPOS. SMITHM
Starks, Ora, EX: /O=USTREASURY/OU=DO/CN#RECI PIENTS/CN=GROUPWISE/CN*=DOM3.DOPOS. STARKSO
Stern, Todd, EX: /O=USTREASURY/OU“DO/CN=RECIPIENTS/CN*GROUPWISE/CN=DOM3.DOPOS. STERNT
Summers, Larry,
EX: /OUSTREASURY/OU=DO/CN*RECI PIENTS/CN*GROUPWISE/CN*DOM3, DOPOS. SUMMERSL
Toohey, Frank,
EX: /OmUSTREASURY/OU=D0/CN=RECI PIENTS/CN=GRCUPWISE/CN=DOM3. DOPO5. TOOHEYP:
Valentic, Marsha,
EX: /O*USTREASURY/OU=D0/CN=RECI PIENTS /CN=GROUPWISE/CN=DOM3, DOPOS. VALENTICM
Barber, Francine,
EX: /O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=GRCUPWISE/CN=DOM3. DOPOG. BARBERF
Barbour, Gaylen,
EX: /O=USTREASURY /OU=D0/CN=RECI PIENTS/ CN=GROUPWISE/CN=DOM3. DOPOG. BARBOURG
Bieger, Peter,
EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3, DOPOG. BIEGERP
Carro, Richard,
EX: /O*USTREASURY/OU=DO/CN®RECI PIENTS/CN°GROUPWISE/CN=DOM3 . DOPO6.CARROR
Cohen, David, EX: /O*USTREASURY/OU*DO/CN*RECIPIENTS/CN*GROUPWISE/CN*DOM3. DOPOG.COHEND
Edsall, Alexandra,
EX: /OUSTREASURY /OU*DO/CN*RECI PIENTS/CN*GROUPW1SE/CN#DOM3. DOPO6. EDSALLA
Greene, Michelle,
EX: /O*USTREASURY/OU*DO/CN*RECIPIENTS/CN*GRCUPWISE/CN~DOM3 . DOPO6. GREENEMI
Joy, David, EX: /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN#GROUPWISE/CN=DOM3. DOPO6. JOYD
Kellogg, Cliff,
EX: /O*USTREASURY /OU=DO/CNeRECI PIENTS /CN@GROUPWISE/CN=DOM3 . DOPOG. KELLOGGC



From: Constantine, Eleni
Sent: Wednesday, February 20, 2002 7:06 PM
To: SearchCameo

CAMEO Recon found a word: Enron, Jeff Skilling sent by Constantine, Eleni to Granat,
Rochelle on 3/15/2001 6:06:53 PM

This message was found to have a Critical Word in it. Message Sent to Granat, Rochelle,
From Constantine, Eleni, CC to McInerney, Roberta, Date 3/15/2001 6:06:53 PM, Subject of
message FW: Enron Meeting Request

Word(s) found: Enron, Jeff Skilling

Fromt Constantine, Eleni

Sent: 3/15/2001 6:06:53 PM

Received: 3/15/2001 6:06:53 PM

To: Granat, Rochelle, EX: /O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=GRANATR

cc: McInerney, Roberta, EX:/O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=MCINERNEYR

Subject: Fu; Enron Meeting Request
Body:

FYI

concn Original Message-----

From: Paulus, Michael

Sent: Thursday, March 15, 2001 6:02 PM
To: McInerney, Roberta; Constantine, Eleni
Subject: FW: Enron Meeting Request

Please see below. Any thoughts?
women Original Message-----

From: Ellis, Dina
Sent: Thursday, March 15, 2001 5:59 PM

To: Fisher, Peter; Paulus, Michael; Carleton, Norman
Cc: Gross, Jared
Subject: RE: Enron Meeting Request

seems ck to me,..should be run through GC.

-~Original Message-----

From: Fisher, Peter

Sent: Thursday, March 15, 2001 5:31 PM

To: Paulus, Michael; Ellis, Dina; Carleton, Norman
Ce: Gross, Jared

Subject: RE: Enron Meeting Request

I also see no reason to object.

Original Message
From: Paulus, Michael

Sent: Thursday, March 15, 2001 5:27 PM

To: Ellis, Dina; Fisher, Peter; Carleton, Norman
Ce: Gross, Jared

Subject: Enron Meeting Request

Jeff Skilling, President and CEO of Enron has requested a meeting with the Secretary for
April 5 to discuss the West Coast energy crisis. I see no reason to object. Thoughts?


{(b)(5))


“Let's see theic plan, and then we'll talk about that," Steve Maviglio, the
governor's spokesman, said late Thursday,

Davis reportedly has been under increasing pressure from Wall Street and
Clinton administration officials to reconsider his opposition to securitization.

Without a state credit guarantee, a work-out plan can't be struck, the
utilities will enter bankruptcy and the state's power grid will collapse into
blackouts, sources familiar with the talks ne

The affected utilities are Southern California Edison Co., a unit of Edison
International (EIX], and Pacific Gas & Electric Co., a unit of PGSE Corp. (PCG).

By Bryan Lee, Dow Jones Newswires, 202-862-6647, bryan.lee@dowjones.com

(END) Dow Jones Newswires 12-01-01
2100GMT

(AP-DJ-01-12-01 2100GMT}

TICKER: EIX PCG SRE

?SUBJECT: EUTL STGO DI? DI1 DI4 DI2 CA COBO COMM
Copyright (c) 2001 Dow Jones and Company, Inc.
Received by NewsEDGE/LAN: 1/12/01 3:55 PM

Calif power talks aim to reach solution on Saturday

WASHINGTON, Jan 12 (Reuters) - Treasury Secretary Lawrence
Summers, other senior Clinton administration officials and top
executives of electric power companies tentatively planned to
meet on Saturday to finalize a fix for California's power mess,
a source close to the negotiations said on Friday.

The high-level meeting was set to take place at the Energy
Department at 3:30 p.m. EST (2030 GHT), with some California
officials participating via teleconference, the source said.

The state narrowly averted rolling power blackouts on
Thursday as already tight supplies of electricity fell to

Friday marked the fourth day of negotiations among
lower-level aides to map out detailed proposals for short- and
long-term solutions to California's chronic electricity
shortage and skyrocketing prices.

If the Friday talks failed to make as much progress as
hoped, the Saturday session could be downgraded to another day
of negotiations among lower-level officials on technical
issues, according to another source.

Summers and Energy Secretary Bill Richardson launched the
negotiations on Tuesday to prevent the bankruptcy of PG&E Corp
<PCG.N> and Edison International <EIX.N>, which could ripple
throughout the national economy,

Both utilities they have run out of cash because of
runaway prices wholesale power, which are now tenfold higher
than one year ago. Under California's landmark 1996
deregulation law, the higher wholesale prices cannot be passed
through to consumers.

The two utilities want a $0-day reprieve in repaying
billions of dollars te out-of-state power generators, as well
as the ability to sign long-term contracta to lock in lower
prices.

( (washington. commodsenergy. news room@reuters.com) }

‘ERS

Rtg 15:29 01-12-01


McHale, Stephen,

EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS /CN=GROUPWISE/CN=DOM3, DOPOG,MCHALES
McInerney, Roberta,

EX: /O=USTREASURY /OU=D0/CN=RECI PIENTS/ CN=GROUPWISE/CN=DOM3 . DOPO6 .MCINERNEYR
Sachs, Lee, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=GROUPWISE/CH=DOM3. DOPO6. SACHSL
Wolin, Neal, EX:/O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM3. DOPO6. WOLINN
ex.mail.JONESM, GWISE:ex.mail.JONESM
ex.mail.VJORSTAD, GWISE:ex.mail.VJORSTAD
Adashek, Jonathan, EX: /O=USTREASURY/CU*DO/CN*RECIPIENTS/CN*ADASHEKI
Affleck-Smith, Joan, EX: /O-USTREASURY/OU=DO/CN=RECIPIENTS/CN=AFFLECK-SMITH
Baer, Gregory, EX: /O*USTREASURY/OU*DO/CN*RECIPIENTS/CN*BAERG
Barr, Michael, EX: /O-USTREASURY/OU*DO/CN*RECIPIENTS/CN=BARRM
Bell, Rochelle, EX: /O-USTREASURY/OU=DO/CN*RECIPIENTS/CN*BELLR
Beresik, Michael, EX: /O=USTREASURY/OU=DO/CN#RECIPIENTS/CN=BERESIKX
Bresee, Elisabeth, £X:/O=sUSTREASURY/CU=DO/CN=RECIPIENTS/CN=BRESEEE
DeMarco, Edward, EX: /O=USTREASURY/OU=DO/CN#RECIPIENTS/CN=DEMARCOE
Foote, Norman, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CW=FOOTEN
Gensler, Gary, EX:/O=USTREASURY/OU=DO0/CN=RECIPIENTS/CN=GENSLERG
Johnson, James, £X:/O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=JOHNSONJE
Lebryk, David, EX:/O=USTREASURY/OU=DO0/CN=RECIPIENTS/CN=LEBRYKD
Ross, Lisa, EX:/O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=ROSSL

pasecks Thanks -Reply
Body:
[OUTSDIE SCOPE]

>>> Linda Robertson 11/03/00 64:31pm >>>

[OUTSIDE SCOPE]

I will be starting work next Monday at Enron. When I have my new telephone
number, E-mail, and mailing info, I will have Janet forward it to you. In the
meantime, my home telephone number is {(b)(6)) + Again, thank you very
much for being a part of my professional’ life.

Seto End of message body
Message auditing by MicroData CAMEO Recon


From: Constantine, Eleni

Sent: Wednesday, February 20, 2002 8:20 PM
To: SearchCameo
Subject: CAMEO Recon found a word: Enron sent by Hammond, Donald to Carleton, Norman;

DeMarco, Edward; Ellis, Dina; Huffman, Lucy, Mclnemey, Roberta; Constantine, Eleni;
Hughes, Gerry; Stewart, Lawranne on 2/15/2001 10:24:49 AM

This message was found to have a Critical Word in it. Message Sent to Carleton, Norman;
DeMarco, Edward; Ellis, Dina; Huffman, Lucy: McInerney, Roberta; Constantine, Eleni:
Hughes, Gerry; Stewart, Lawranne, Prom Hammond, Donald, CC to Tishuk, Brian; Robbins,
Eric; Paulus, Michael; Sutton, Gary) Huffman, Lucy: McGivern, Toms Nickoloff, Peter;
Schultheiss, Heidilynne;: Gross, Jared, Date 2/15/2001 10:24:49 AM, Subject of message RE:
Bankruptcy Reform Mark-up Rearing

Word(s) found: Enron

From: Hammond, Do’

Sent: 2/15/2001 10:24:49 AM

Received: 2/15/2001 10:24:49 AM

To: Carleton, Norman, EX: /O#USTREASURY/OU=DO/CN@RECIPIENTS/CN@CARLETONN
DeMarco, Edward, EX: /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=DEMARCOE
Ellis, Dina, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CNeEllisD
Huffman, Lucy, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=HUFEMANL
McInerney, Roberta, EX:/O=-USTREASURY/OU=D0/CN=RECI PIENTS/CN=MCINERNEYR
Constantine, Eleni, EX:/O=USTREASURY/OU=D0/CN=RECIPIENTS/CH=CONSTANTINEE
Hughes, Gerry, EX:/O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=HUGHESG
Stewart, Lawranne, EX: /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=STEWARTLAW

cc: Tishuk, Brian, EX:/O=-USTREASURY/OU=D0/CN=RECIPIENTS/CN=TISHUKB
Rebbins, Eric, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=ROBBINSE
Paulus, Michael, EX:/O=USTREASURY/OU*DO/CN#RECIPIENTS/CN#PaulusM
Sutton, Gary, EX: /O*USTREASURY/OU#DO/CN*RECIPIENTS/CN*SuttonG
Huffman, Lucy, EX: /O-USTREASURY/OU+DO/CN+RECIPIENTS/CN+HUPEMANL
MeGivern, Tom, EX: /O=USTREASURY/OU#DO/CN*RECIPIENTS/CN*MCGIVERNT
Nickoloff, Peter, EX: /O-USTREASURY/OU*DO/CN*RECIPIENTS/CN=NICKOLOFFP
Schultheiss, Heidilynne, EX: /O-USTREASURY/OU*DO/CN+RECIPIENTS/CHeSchultheissh
Gross, Jared, EX: /OsUSTREASURY/OU@DO/CN*RECIPIENTS/CNeGrossJa

Subject: RE: Bankruptcy Reform Mark-up Hearing
Body:
Norman,

Thanks. TI believe that the netting provisions will be a major agenda item at next week's
Working Group meeting. 1 think it is very useful to have that discussion before meeting
with the Hill staff.

woeen Original Message-----

From Carleton, Norman

Sent: Thursday, February 15, 2001 10:07 AM

To: Hammond, Donald; DeMarco, Edward; Ellis, Dina; Huffman, Lucy; McInerney, Roberta;
Constantine, Eleni; Hughes, Gerry; Stewart, Lawranne

Cc: Tishuk, Brian; Robbins, Eric; Paulus, Michael; Sutton, Gary; Huffman, Lucy;
McGivern, Tom; Nickoloff, Peter; Schultheiss, Heidilynne; Gross, Jared

Subject: RE: Bankruptcy Reform Mark-up Hearing

Don,

((b)(5)]


Subject: EPA-03-A, EPA's response to Dingell's letter on Barton's draft leg
“Electricity Emergency Relief Act"

((b)(5)]

**SEE THREE ATTACHMENTS**

The views of your office are requested on this item, which has been assigned to Karen
Dorsey.Please transmit your comments by e-mail to Karen Dorsey( karen.dorsey@do.treas.gov
) with a copy te ALLR” ( LUR&do.treas.gov }. Use the message apace of the e-mail for brief
responses. For more detailed comments, please attach a separate document to your e-mail

reply.

If you are not able te use e-mail to reply, you may fax your response to 622-1188. Please
direct your fax to Karen Dorsey and identify the subject exactly as shown above,

To ensure the full development of the Department's position on this matter, it is
important that your office provide comments by the due date. If you can=t meet the
deadline or need assistance, contact Karen Dorsey (622-1192) or the Legislative Staff
(622-0650).

Message auditing by MicroData CAMEO Recon


((b)(5)}

Norman

aml ‘Original Message-----

From: Hammond, Donald

Sent: Thursday, February 15, 2001 9:26 AM

To: DeMarco, Edward; Ellis, Dina; Huffman, Lucy; Carleton, Norman; McInerney, Roberta;
Constantine, Eleni; Hughes, Gerry; Stewart, Lawranne

Ce: Tishuk, Brians Robbins, Eric

Subject: RE: Bankruptcy Reform Mark-up Hearing

Ed.

((b\(S)]

Norman,

((b)(5)]

Don

-----Original Message-----

From: DeMarco, Edward

Sent: Thursday, February 15, 2001 9:22 AH

To: Hammond, Donald; Ellis, Dina; Huffman, Lucy; Carleton, Norman; McInerney, Roberta;
Constantine, Eleni; Hughes, Gerry; Stewart, Lawranne

Cc: Tishuk, Brian; Robbins, Eric

Subject: Fa: Bankruptcy Reform Mark-up Hearing

FYI

Original Measage~----

From: Robbins, Eric

Sentt Wednesday, February 14, 2001 5:45 2M
To: DeMarco, Edward

Ce: Tishuk, Brian

Subject: Bankruptcy Reform Mark-up Hearing


MEMORANDUM FOR THE SECRETARY
From: David Wilcox
Subject: Conversation with Steven Kean, Chief of Staff, ENRON

Subject: California Electricity Market
Friday December 15, time?

((b)(5)]


{(b)(5)]


EX: /O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM3. DOPOS. HARVEYR
Herold, Valerie,
EX: /O=USTREASURY/OU=D0/CN=RECI PI ENTS/CN=GROUPWISE/CN=DOM3 , DOPOS.HEROLDV
Johnson, Linda,
EX: /O*USTREASURY /OU=DO/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3, DOPOS. JOHNSONL
Jones, Janet,
EX: /O@USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3, DOPOS. JONESJA
Joseph, Verlene,
EX: /OUSTREASURY /OU*DO/CN*RECIPIENTS/CN*GROUPWISE/CN*DOM3 . DOPOS. JOSEPHV
Keene, Carolyn,
EX: /OUSTREASURY /OU*DO/CN*RECI PIENTS/CN#GRCUPW1SE/CN*DOM3. DOPOS. KEENEC
Keller, Alan,
EX: /OMUSTREASURY /OU=DO/CN*RECI PIENTS/CN*GROUPWISE/CN*DOM3. DOPOS. KELLERJ
Kim, Carol, EX: /O=USTREASURY/OU#DO/CN=RECI PIENTS/CN*»GROUPWISE/CN#DOM3.DOPO5.KIMCA
Klasky, Helaine,
EX: /OmUSTREASURY /OU=DO/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3. DOPOS. KLASKYH
Levine, Marne,
EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3. DOPOS. LEVINEM
Lengbrake, John,
EX: /OSUSTREASURY/OU=D0/CN=RECI PIENTS/CH=GROUPWISE/CN=DOM3 . DOPOS. LONGBRAKEJ
Luce, Ed, EX:/O=USTREASURY/OU=DO/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3. DOPOS. LUCER
Matera, Cheryl,
EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3. DOPOS .MATERAC
McAuliffe, Laura,
EX: /O*USTREASURY /OU*DO/CN*RECI PIENTS/CN=GRCUPWISE/CN=DOM3. DOPOS.MCAULIFFEL
Mejia, Annabella,
EX; /OUSTREASURY /OU*DO/CN+RECIPIENTS/CN+GRCUPWISE/CN*DOM3.DOPOS.MEJIAA
Moore, Holly, EX: /O-USTREASURY/OU*DO/CN#RECI PIENTS/CN*GROUPWISE/CN#DOM3. DOPOS .MCOREH
Muldoon, Lara,
EX: /O*USTREASURY/OU*DO/CN*RECI PIENTS/CN*GROUPWISE/CN=DOM3. DOPOS .MULDOONL
Nisanci, Didem,
EX: /OsUSTREASURY/OU=DO/CN=RECI PIENTS/CN@GROUPWISE/CN=DOM3. DOPOS.NISANCID
Powell, Linda,
EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3, DOPOS. POWELLL
Robertson, Linda,
EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3, DOPOS. ROBERTSONL
Sandberg, Sheryl,
EX: /O=USTREASURY /OU=DO/CN=RECI PIENTS/CN=°GROUPWISE/CN=DOM3 . DOPOS , SANDBERGS
Smith, Michelle A.,
EX: /O=USTREASURY /OU=D0/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM3. DOPOS.SMITHM
Starks, Ora, EX: /O=USTREASURY/OU=DO/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3 . DOPOS. STARKSO
Stern, Todd, EX: /O*USTREASURY/OU*DO/CN*RECI PIENTS/CN*GROUPWISE/CN*DOM3. DOPOS. STERNT
Summers, Larry,
EX; /O=USTREASURY/OU*DO/CN=RECIPIENTS/CN*GROUPWISE/CN*DOM3 , DOPOS. SUNMERSL
Toohey, Frank,
EX: /OUSTREASURY/OU*DO/CN*RECI PIENTS/CN*GROUPWISE/CN*DOM3, DOPOS. TOOHEYF
Valentic, Marsha,
EX: /OsUSTREASURY /OU=DO/CN=RECI PLENTS/CN=GRCUPWISE/CN=DOM3. DOPOS. VALENTICM
Barber, Francine,
EX: /O*USTREASURY/OU=D0/CN=RECI PIENTS/CN=GRCUPWISE/CN=DOM3, DOPOG. BARBERF
Barbour, Gaylen,
EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWI SE/CN=DOM3 , DOPOG. BARBOURS
Bieger, Peter,
EX: /O=USTREASURY /OU=D0/CN=RECI PIENTS/ CN=GROUPWISE/CN=DOM3. DOPOG . BIEGERF
Carro, Richard,
EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3 . DOPOG. CARROR
Cohen, David, EX: /O=USTREASURY/OU=DO/CN@RECIPIENTS/CN=GROUPWISE/CN=DOM3. DOPO¢.COHEND
Edsall, Alexandra,
EX: /OUSTREASURY/OU*DO/CN®RECI PIENTS/CN*GROUPWISE/CN*DOM3 . DOPO6. EDSALLA
Greene, Michelle,
EX: /OUSTREASURY /OU*DO/CN*RECI PIENTS/CN*GROUPW1SE/CN#DOM3. DOPO6. GREENEMI
Joy, David, EX: /O*USTREASURY/OU*DO/CN#RECI PIENTS/CN*GROUPWISE/CN*DOM3. DOPO6. JOYD
Kellogg, Cliff,
EX: /OsUSTREASURY/OU=DO/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3. DOPOG. KELLOGGC
McGivern, Tom,
EX: /O*USTREASURY /OU=DO/CNeRECI PIENTS /CN@GROUPWISE/CN=DOM3 . DOPO6 .MCGIVERNT



Also, California incumbent utilities must provide electric service to customers
who do not choose to switch. In Texas, as I mentioned, incumbent utilities
must establish affiliated retail units that will serve customers who do

not switch, but it cannot be the T&D operation of the incumbent utility.

That is why we are seeing companies like Reliant Energy submit multiple
applications, covering separate subsidiaries that will serve different
customer classes,

The market potential for Texas competition appears very strong, which perhaps
more than anything else is due te good planning on the part of Texas legislators
and regulators. However, there are still some lingering concerns about
competition in the Lone Star State. First, there is a shortage of transmission
lines in Texas, especially in the northern half of the state. Although

PUCT officials say that sufficient transmission lines will be put into

place before competition begins, without sufficient lines companies could
experience transmission congestion.

Another concern is that Texas may be relying too much on natural gas. Almost
all of the new plants that have been built in Texas are powered by this

fuel source. As we continue to see the price of natural gas reach alarming
highs, this could pose a problem for the market in Texas. Hedging will

be a key part of a successful strategy for any provider in Texas, especially
considering the rising natural-gas prices. Still, the espoused advantages

of competition (i.e., lower prices for users) could fall flat if so
much emphasis is placed on natural gas as the primary power source in the
state. Yet, ironically, customers may still benefit because of the multitude
of power plants within the state. Abundant supply in Texas may keep the
cost of power low for end-users, but less profitable for suppliers.

Overall, though, Texas remains the bright shining hope for those who support
energy deregulation in this country. The size of the state's energy market
will continue to attract new participants, at least on the front end of

the restructuring process. Whether they remain in Texas, and whether or

not competition in the state will truly bring benefits to end-users, remains
to be seen.

easensssesss
SCI@NTECH is pleased to provide you with your free, daily IssueAlert. Let
us know if we can help you with in-depth analyses or any other SCIENTECH
information products. If you would like to refer a colleague to receive
our free, daily IssueAlerts, ple: reply to this email and include their
full name and email address or register directly at:

http://www. consultrel.com/web/infostore.nsf/Products/IssueAlert

=

Feedback regarding SCIENTECH's IssueAlert and SourceBook Weekly should
be sent to wmcnamara@scientech.com

aeeee

Reach thousands of utility analysts and decision makers every day. Your
company can schedule a sponsorship of IssueAlert by contacting Nancy Spring
at nspring@scientech.com or (505}244-7613, Advertising opportunities are

also available on our websit:
Pe CrTereerrrrrrr rer sitet

Prrrrrirrer irre rir rer iri iri ir tritici irs

SCIENTECH's IssueAlerts are compiled based on independent analysis by SCIENTECH
consultants. The opinions expressed in SCIENTECH'’s IssueAlerts are not
intended to predict financial performance of companies discussed or to

be the basis for investment decisions of any kind. SCIENTECH's sole purpose
in publishing its IssueAlerts is to offer an independent perspective regarding
the key events occurring in the energy industry, based on its long-standing
feputation as an expert on energy and telecommunications issues.

Copyright 2000. SCIENTECH, Inc.

If you do not wish to receive any further InsueAlerts from SCIENTECH, please


ccs

"RMK4@pge.com', SMTP:RMK4@pge.com

*joebob-perkins' liantenergy.com', SMTP: joebob-perkins@reliantenergy.com
*marvin_k_ballar ntenergy.com', SMTP:marvin_k_ballard@reliantenergy.com
"WHcCrea@sablaw.com', SMTP: KMcCrea@sablaw.com

"fieldejrésce.com’, SMTP: fieldejr@sce.com

“harold. cay@sce,com', SMTP:harold. cay@sce.com

"dreed@sdge.com', SMTP:dreed@sdge.com

*weakaria@sdge.com', SMTP:wsakaria@sdge.com

*rahayes@seivorldwide.com', SMTP: rahayes@seiworldwide.com
"sj}capoma@selworldwide.com', SMTP:sjcapoma@seiworldwide.com
"mtierney@sempra.com', SMTP:mtierney@sexpra.com
*sonnet.edmonds@southernenergy.com', SMTP:sonnet.edmonds@southernenergy. com
"cread@steptae.com', SMTP: creadSsteptoe.com

*temoreland@swidlaw.com', SMTP: temorelandfswidlaw.com
*julie.greenisen@troutmansanders.com', SMIP:julie.greenisen@troutmansanders.com
*alex.goldberg@williams,com', SMTP:alex.qoldberg@williams.com

*[(bV(6

(by6)) EX: /O=USTREASURY/OU=DO/CN=RECI PIENTS/CN=Groupwise/cn=Treasury.DOPO.ADMIN
*ronald_minsk@opd.eop.gov', SMTP: ronald_minsk@opd.eop.gov

*4mdonnell Gduke-energy.com', SMTP: jmdonnell@duke-energy.com
"hjpodewerfduke-energy.com', SMTP: hjpodewer@duke-energy.com
*bbailey@duke-energy.com’, SMTP:bbailey@duke-energy.com
*njdeschane@duke-energy.com', SHTP:njdeschane@duke-energy.com
“wihall@duke-energy.com', SMTP: wfhall@duke-energy.com
*abvanleer@duke-energy.com', SMTP: sbvanleer@duke-energy.com

"rmk4@pge.com', SMTP: rmk4@pge.com

"ddrO08pge.com', SMTP:ddr08pge.com

"r}p2@pge.com', SMTP: rjp28pge.com

“starckle@sce.com', SMTP:starckle@sce.com

*John.gammie@williams.com', SMTP: john.gammie@williams.com
*reharris@seiworldwide.com', SMTP: reharris@seiworldwide.com

jeiworldwide.com',
"dimiller@seiworldwide.com', SMTP:dlmiller@seiworldwide.com
*jwholden@seiworldwide.com', SMTP: jwholden@seiworldwide.com
*richard.shapiro@enron.com’, SMTP: richard.shapiro#fenron.com
‘robert.badeerfenron.com', SMI'P:robert.badeer@enron.com

Barbour, Gaylen, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=BARBOURG
"Curtis Wagner’, SMTP: curtis.wagner€ferc. fed.us

Subject: RE: California Energy Group e-mail TEST MESSAGE

Body:

End of message body

Message auditing by MicroData CAMEO Recon


Here is our list of organizations/individuals that we propose to interview
for the retail swaps study:

(oxen
{(b)(5)]

------ End of message body

Message auditing by MicroData CAMEO Recon


From: Affleck-Smith, Joan

Sent: Wednesday, February 20, 2002 7:27 PM

To: SearchCameo

Subject: CAMEO Recon found a word: Enron sent by
(O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM3 DOPOS.ROB

ERTSONL to Carter, Ted; Arkin, Steve; Baker, Ros, Conly, Sonia; Cumby, Robert; Davie,
Bruce; DeLaVina, Lynda; Flanagan, Rosemary, Gerardi, Geraldine, H

This message was found to have a Critical Word in it. Message Sent to Carter, Ted; Arkin,
Steve; Baker, Ros; Conly, Sonia; Cumby, Rebert; Davie, Bruce; DeLaVina, Lynda; Flanagan,
Rosemary; Gerardi, Geraldine; Holtzblatt, Janet; Iwry, Mark; Knopf, Kevin; McCubbin,
Janet; Mikrut, Joseph; Talisman, Jon; Vandivier, David; Walker, Deborah; Atkinson,
Caroline; Baukol, Andrew; Budington, Michele; Cetina, Jill; Chaves, Mary; Eichenberger,
Joe; Fall, James; Geithner, Timothy; Gelpern, Anna; John, James; Lee, Nancy; Lowery, Clay;
Ludden, Ken; Schuerch, William; Stedman, Louellen; Truman, Ted; Walsh, Helen; Alagiri,
Priyas Andrews, Lisa; Arnold, Thomas; Bordoff, Jason; Cameron, Art; Carter, Jana: Cohen,
Alan; Comstock, Neal; Decker, Larry: Desler, Anne? Egolf, Brian; Eizenstat, Stuart; Fant,
William: Flanders, Stephanie: Gathers, Shirley: Grayson, Cherry; Harvey, Reavie: Herold,
Valerie; Johnson, Linda: Jones, Janet; Joseph, Verlene; Keene, Carolyn; Keller, Alan; Kim,
Carol; Klasky, Helaine; Levine, Marne; Longbrake, John; Luce, Ed? Matera, Cheryl;
McAuliffe, Laura; Mejia, Annabella; Moore, Holly; Muldoon, Lara; Nisanci, Didem: Powell,
Lindas Robertson, Linda: Sandberg, Sheryl: Smith, Michelle A.: Starks, Oras; Stern, Todd:
Summers, Larry: Toohey, Frank; Valentic, Marsha; Barber, Francine; Barbour, Gaylen;
Bieger, Peter; Carro, Richard; Cohen, David; Edsall, Alexandra; Greene, Michelle; Joy,
David; Kellogg, Cliff; MeGivern, Tom; McHale, Stephen; McInerney, Roberta; Sachs, Lee;
Wolin, Neal; ex.mail.JONESM; ex.mail.VJORSTAD; Adashek, Jonathan; Affleck-Smith, Joan;
Baer, Gregory; Barr, Michael; Bell, Rochelle; Beresik, Michael; Bresee, Elisabeth;
DeMarco, Edward; Foote, Norman; Gensler, Gary; Johnson, James; Lebryk, David; Ross, Lisa,
From /O=USTREASURY/OU*DO/CN*RECIPIENTS/CN=GROUPWISE/CN#=DOM3.DOPOS.ROBERTSONL, CC to , Date
11/3/2000 4:31:00 PM, Subject of message Thanks

Word(s) found: Enron

From: /O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM3. DOPOS. ROBERTSONL

Sent: 11/3/2000 4:31:00 FN

Received: 11/3/2000 4:31:30 FM

To: Carter, Ted,

EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/ CN=GROUPWISE/CN=DOM11.DOPO4.CARTERT
Arkin, Steve,

EX: /OUSTREASURY/OU=DO/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM1 3. DOPO? .ARKINS
Baker, Ros, EX:/O#USTREASURY/OU*DO/CN*RECI PIENTS/CN*GROUPWISE/CN*DOM13.DOPO7. BAKERR
Conly, Sonia,

EX: /O*USTREASURY /OU*DO/CN*RECIPIENTS/CN#GRCUPW1SE/CN*DOM1 3. DOPO7 . CONLYS
Cumby, Robert,

EX: /O*USTREASURY/OU*DO/CNWRECI PIENTS/CN*GROUPWISE/CN*DOM13.DOPO7.CUMBYR
Davie, Bruce,

EX: /O=USTREASURY /OU=DO/CN=RECI PIENTS/CN@GROUPWISE/CN=DOM13.DOPO7. DAVIEB
DeLaVina, Lynda,

EX: /O*USTREASURY/OU=DO/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM13.DOPO7. DELAVINAL
Flanagan, Rosemary,

Ex: /O=USTREASURY /QU=DO/Cht=RECIPI ENTS/CN=GROUPWISE/CN=DOM13.DOPO7. FLANAGANR,
Gerardi, Geraldine,

EX: /O@USTREASURY /OU=DO/CN=RECIPIENTS/Ch=GROUPWISE/CN=DOM1 3. DOPO7 , GERARDIG
Holtzblatt, Janet,

EX: /O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM13.DOPO7 -HOLTZBLATTJ
Iwry, Mark, EX:/O*USTREASURY/OU=DO/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM13.DOPO7. IWRYM
Knopf, Kevin,

EX: /O*USTREASURY/OU*DO/CN*RECI PIENTS/CNGROUPWISE/CN*DOM13.DOPO7. KNOPEK
McCubbin, Janet,

EX: /OUSTREASURY /OU*DO/CN*RECI PIENTS/CN*GROUPWISE/CN*DOM13.DOPO7 .MCCUBBING
Mikrut, Joseph,


((b)(5)]


From: Fisher, Peter

Sent: Thursday, March 15, 2001 5:31 PH

To: Faulus, Michael; Ellis, Dina; Carleton, Norman
Ce: Gross, Jared

Subject: RE: Enron Meeting Request

I also see no reason to cbject.

-Original Message-
From: Paulus, Michael

Sent: Thursday, March 15, 2001 5:27 PM

To: Ellis, Dina; Fisher, Peter; Carleton, Norman
Cc: Gross, Jared

Subject: Enron Meeting Request

Jeff Skilling, President and CEO of Enron has requested a meeting with the Secretary for
April 5 to discuss the West Coast energy crisis. I see no reason to object. Thoughts?

atatataated End of message body
Message auditing by MicreData CAMEO Recon


From: Wilcox, David
Sent: Thursday, February 21, 2002 12:50 AM
To: SearchCameo
CAMEO Recon found a word: Enron sent by Wilcox, David to Squitieri, Ray on 12/14/2000
2:52:41 PM
importance: High
calif doc

This message was found to have a Critical Word in it. Message Sent to
Squitieri, Ray, From Wilcox, David, CC to Chryst, Nancy: Vandivier, David; Rao, Geetha;
Flanagan, Rosemary; Cononi, Rachel; Flynn, Timothy; Murphy, Edward; Hambor, John, Date
12/14/2000 2:52:41 PM, Subject of message RE: Krugman on Calif power market

Word(s) found: Enron

noees| ‘Original Message~-----
From: Wilcox, David
Sent: 12/14/2000 2:52:41 PM
Received: 12/14/2000 2:52:41 2M
To: Squitieri, Ray, EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN@SQUITIERIR

cc: Chryst, Nancy, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=CHRYSTN
Vandivier, David, EX: /O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=VandivierD
Rao, Geetha, EX: /O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=RaoG
Flanagan, Rosemary, EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=FLANAGANR
Cononi, Rachel, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=CONONIR
Flynn, Timothy, £X;/O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=FlynnT
Murphy, Edward, EX: /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=MURPHYE
Hambor, John, EX: /O*USTREASURY/OU=DO/CN=RECIPIENTS/CN=HAMBORT

Subject: RE: Krugman on Calif power market

Body:

Ray: This is a very interesting piece. Please address the questions in the attached to
the best o f your ability, then forward the reault to Rosemary for processing to the
Secretary tonight if at all possible,

Rosemary: Please use the following as a transmittal note from me to Larry:

The attached note, prepared by Ray Squitieri, analyzes statements made by Paul Krugman
recently about the California market for electricity. It will be particularly relevant
background for a call from the CEO of Enron, should that occur.

Sttataies Original Message-----

From: Squitieri, Ray

Sent: Thursday, December 14, 2000 2:12 PM

To: Wilcox, David

Ce: Chryst, Nancy; Vandivier, David; Rao, Geetha; Flanagan, Rosemary;
Cononi, Rachel; Flynn, Timothy; Murphy, Edward; Hambor, John
Subject: Krugman on Calif power market

aa=s== End of message body

Message auditing by MicroData CAMEO Recon


EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM13.DOPO7 .MIKRUTJ
Talisman, Jon,

EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM13.DOPO7. TALISMANT
Vandivier, David,

EX: /O*USTREASURY/OU=D0/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM13.DOPO7. VANDIVIERD
Walker, Deborah,

EX: /O@USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM13.DOPO7 .WALKERD
Atkinson, Caroline,

EX: /OUSTREASURY/OU*DO/CN*RECIPIENTS/CN*GROUPWISE/CN*DOM13.DOPO8 .ATKINSONC
Baukol, Andrew,

EX: /OUSTREASURY /OU*DO/CN*RECI PIENTS/CN#GRCUPW1SE/CN*DOM13.DOPOS . BAUKOLA
Budington, Michele,

EX: /OMUSTREASURY /OU*DO/CN+RECI PIENTS/CN*GROUPWISE/CN=DOM1 3. DOPOS . BUDINGTONM
Cetina, Jill,

EX: /OmUSTREASURY /OU=D0/CN=RECI PIENTS/CN=GRCUPWISE/CN=DOM13.DOPOS .CETINAJ
Chaves, Mary,

EX: /O*USTREASURY/OU=DO0/CN=RECI PIENTS/CN=GROUPWI SE/CN=DOM1 3. DOPOS . CHAVESM
Eichenberger, Joe,

EX: /O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM1 3. DOPOS . EICHENBERGERS
Fall, James, &X:/O=USTREASURY/OU=D0/CN=RECIPIENTS/CH=GROUPWISE/CN=DOM13, DOPOS. FALLJ
Geithner, Timothy,

EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM13.DO?PO8.GEITHNERT
Gelpern, Anna,

EX: /OUSTREASURY /OU=D0/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM13.DOPO .GELPERNA
John, James, EX:/O=USTREASURY/OU#DO/CN=RECIPIENTS/CN=GROUPWISE/CH=DOM13.DOPOS. JOHNT
Lee, Nancy, EX: /O*USTREASURY/OU*DO/CN*RECIPIENTS/CN*GROUPWISE/CN*DOM13.DOPO8. LEEN
Lowery, Clay,

EX; /O*USTREASURY /OU=DO/CN*RECI PLENTS/CN*GROUPWISE/CN#DOM13.DOPOS . LOWERYC
Ludden, Ken,

EX: /O*USTREASURY/OU*DO/CN*RECI PIENTS/CN*GROUPWISE/CN=DOM13.DOPOS . LUDDENK
Schuerch, William,

EX: /OmUSTREASURY/OU*DO/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM13. DOPOS . SCHUERCHM
Stedman, Louellen,

EX: /O=USTREASURY/OU=DO/CN=RECI PIENTS /CN=GROUPWISE/CN=DOM13,DOPO8.STEDMANL
Truman, Ted,

Ex: 1 ERROR CNSR Ee te ce ~DOPOS .TRUMANT
Walsh, Helen,

EX: /O=USTREASURY /OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM1 3. DOPOS .WALSHH
Alagiri, Priya,

EX: /O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM3, DOPOS.ALAGIRIP
Andrews, Lisa,

EX: /OPUSTREASURY/OU*DO/CN*RECIPIENTS/CN*GROUPWISE/CN*DOM3 , DOPOS.ANDREWSL
Arnold, Thomas,

EX: /OUSTREASURY/OU*DO/CN=RECI PIENTS/CN*GROUPWISE/CN*DOM3 , DOPOS .ARNOLDT
Bordoff, Jason,

EX: /OUSTREASURY/OU*DO/CN*RECI PIENTS/CN*GROUPWISE/CN*DOM3, DOPOS. BORDOFFJ
Cameron, Art,

EX: /OsUSTREASURY /OU=DO/CN=RECI PIENTS/CN=GRCUPWISE/CN=DOM3. DOPOS.CAMERONA
Carter, Jana,

EX: /O*USTREASURY /OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3, DOPOS.CARTERT
Cohen, Alan, EX:/O=USTREASURY/OQU=D0/CN=RECI PIENTS / CN=GROUPWISE/CN=DOM3. DOPOS , COHENA
Comstock, Neal,

EX: /O@USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3, DOPOS. CONSTOCKN
Decker, Larry,

EX: /O*USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3 . DOPOS. DECKERL
Desler, Anne,

EX: /O*USTREASURY /OU=DO/CN*RECI PIENTS/Ch*GROUPWISE/CN=DOM3. DOPOS. DESLERA
Egolf, Brian, EX: /O=USTREASURY/OU=DO/CN#RECI PIENTS/CN=GROUPWISE/CN=DOM3. DOPOS. EGOLFB
Eigenstat, Stuart,

EX; /O-USTREASURY/OU+DO/CN+RECI PIENTS/CN+GROUPWISE/CN+DOM3. DOPOS. EIZENSTATS
Fant, William, EX: /O=USTREASURY/OU*DO/CN*RECIPIENTS/CN=GROUPWISE/CN*DOM3.DOPOS. FANTW
Flanders, Stephanie,

EX: /OUSTREASURY/OU*DO/CN*RECI PIENTS/CN*GRCUPWISE/CN“DOM3. DOPOS. FLANDERSS
Gathers, Shirley,

EX: /OmUSTREASURY /OU=DO0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3. DOPOS.GATHERSS
Grayson, Cherry,


From: Constantine, Eleni
Sent: Wednesday, February 20, 2002 8:24 PM
To: SearchCameo

CAMEO Recon found a word: Enron, Jeff Skilling sent by Paulus, Michael to Mcinermey,
Roberta; Constantine, Eleni on 3/15/2001 6:02:02 PM

This message waa found to have a Critical Word in it. Message Sent to McInerney, Roberta;
Constantine, Eleni, From Paulus, Michael, CC to , Date 3/15/2001 6:02:02 PM, Subject of
message FW: Enron Meeting Request

Word(s) found: Enron, Jeff Skilling

From: Paulus, Michael

Sent: 3/15/2001 6:02:02 PM

Received: 3/15/2001 6:02:02 PM

To: McInerney, Roberta, EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=MCINERNEYR
Constantine, Eleni, EX:/O=USTREASURY/OU=D0/CN=RECI PIENTS/CH=CONSTANTINEE

ccs
Subject: Fu; Enron Meeting Request
Body:

Please see below. Any thoughts?

anaee Original Message-----

From: Ellis, Dina

Sent: Thureday, March 15, 2001 5:59 PM

To: Pisher, Peter; Paulus, Michael; Carleton, Norman
Ce: Gross, Jared

Subject: RE: Enron Meeting Request

seems ok to me..,should be run through GC.

Soatabates Original Message-----

From: Fisher, Peter

Sent: Thursday, March 15, 2001 5:31 PH

To: Paulus, Michael; Ellis, Dina; Carleton, Norman
Ce: Gross, Jared

Subject: RE: Enron Meeting Request

I also see no reason to object.

Prom: Paulus, Michael

Sent: Thursday, March 15, 2001 5:27 PM

To: Ellis, Dina; Fisher, Peter; Carleton, Norman
Cc: Gross, Jared

Subject: Enron Meeting Request

Jeff Skilling, President and CEO of Enron has requested a meeting with the Secretary for
April S to discuss the West Coast energy crisis. I see no reason to object. Thoughts?

oo End of message body

Message auditing by MicroData CAMEO Recon


From: Wilcox, David

Sent: Thursday, February 21, 2002 12:52 AM

To: SearchCameo

Subject: CAMEO Recon found a word: Enron sent by Wilcox, David to Soares, Chris on 1/15/2001
12:04:59 AM

This message waa found to have a Critical Word in it. Message Sent to Soares, Chris, From
Wilcox, David, CC to , Date 1/15/2001 12:04:59 AM, Subject of message FW: California
Energy Group e-mail TEST MESSAGE

Word(s} found: Enron

From: Wilcox, David

Sent: 1/15/2001 12:04:59 AM

Received: 1/15/2001 12:04:59 AM

To: Soares, Chris, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=SOARESC

ce:

Subject: Fu: California Energy Group e-mail TEST MESSAGE
Body:

[OUTSIDE SCOPE]

--Original Mes:
From: Tierney, Michael C, [mailto:MTierney@sempra.com)

Sent; Saturday, January 13, 2001 2:07 PM

To: 'David.Wilcox@do.treas.gov '; 'Lee.Sachs@do.treas.gov '; ‘Chris.Soares@do.treas.gov ';
‘martha.altamar@ferc.fed.us "; 'alexm@calpine.com '; 'jmacias@calpine.com "3; 'jason_s.
_seligmanfcea.eop.gov '; ‘shg@cpuc.ca.gov 's; "Michelle.Greenefido.treas.gov ';

"Ray. Squitieri@do.treas.gov "; 'Veronica.Stokes@do.treas.gov ‘; "eisenstatl@DSMO.com ';
‘abvanleer@duke-energy.com '; "joel.newton@dynegy.com 's ‘lynn. lednicky@dynegy.com ';
‘smara@enron.com '; ‘linda.lee@ferc.fed.us ': 'dan.poffenberger@ferc.ged.gov.treas.gov '7
‘pmohler@hewm.com 's; 'richard.glick@hq.doe.gov "; ‘smutany@iepa.com ': ‘karen. tomcala@pge-
corp.com '; 'cxg2@pge.com '; ‘DxH4@pge.com '; ‘RMK4@pge.com '; ‘joebob-
perkins@reliantenergy.com '; ‘marvin_k_ballard@reliantenergy.com '; 'KMcCrea@sablaw.com ';
‘fieldejr@sce.com '; ‘harold.ray@sce.com '; Reed, Debra L.: Sakarias, Wayne P.3
‘rahayes@seiworldwide.com '; 'sjcapoma@seiworldwide.com ‘; Tierney, Michael C,?
*sonnet.edmonds@southernenergy.com ‘; ‘cread@steptoe.com '; ‘temoreland@swidlaw.com ';
‘julie. greenisen@troutmansanders.com '; lex.goldberg@williams.com ';

mC) ‘; “ADMING@do.treas.gov '; ‘ronald minsk@opd.eop.gov ';
‘jmdonnéll@duke-energy.com '; "hjpodewer@duke-energy.com '; 'bbailey@duke-energy.com ‘;
*njdeschane@duke-energy.com "; 'wfhall@duke-energy.com '; 'sbvanleer@duke-energy.com ';
‘rmk4@pge.com '; 'ddrO0@pge.com '; 'rjp2@pge.com '; 'starckle@sce.com ';
‘john.gammie@williama.com '; ‘reharris@seiworldwide.com '; ‘smfuller@seiworldwide.com ';
‘dlmillerfseiworldwide.com '; "jwholden@seiworldwide.com "; 'richard.shapirofenron.com '7
‘robert.badeerfenron.com *

Cc: 'Gaylen.Barbour@do.treas.gov '; 'curtis.wagner@ferc.fed.us '

Subject: RE: California Energy Group e-mail TEST MESSAGE

Please add Nick Fels to this mailing list. His email address is nfels@cov.com

~----Original Mes.
From: David.Wilcoxédo.treas.gov

To: David.Wilcox@do.treas.gov; Lee.Sachs@do.treas.gov; Chris.Soares@do,treas.gov;
martha.altamar@ferc.fed.us; alexm@calpine.com; jmacias@calpine.com; jason_s.
_Seligmanfcea.eop.go hg@cpuc.ca.gov; Michelle. Greene@do. treas.gov;

Ray. Squitieri@do.treas.gov; Veronica. Stokes@do.treas.gov; eisenstatl@DSMO. com;
sbvanleer@duke-energy.com; joel.newton@dynegy.com; lynn. lednicky@dynegy.com;
smara@enron.com; linda. lee@ferc.fed.us; dan.poffenberger@ferc.ged.gov.treas.gov;
pmohler@hewm.com; richard.glick8hq.doe.gov; smutany@iepa.com; karen.tomcala@pge-corp. com;



From: Squitieri, Ray
Sent: Thursday, February 21, 2002 12:21 AM
To: SearchCameo

CAMEO Recon found a word: Enron sent by Gabilondo, Jose to Squilieri, Ray on 6/25/2001
9:25:35 AM

This message waa found to have a Critical Word in it. Message Sent to Squitieri, Ray,
From Gabilondo, Jose, CC to , Date 6/25/2001 9:25:35 AM, Subject of message FW: Suggested
Interviewees

Word(s) found: Enron

From: Gabilondo, Jose

Sent: 6/25/2001 9:25:35 AM

Received: 6/25/2001 9:25:36 AM

To: Squitieri, Ray, £X:/O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=SQUITIERIR

ce:

Subject: Fu: Suggested Interviewees
Body:

Ray,

Norm Carleton (our client) is coordinating an interagency study of the retail swap market
as required by last year's Commodity Futures Modernization Act {(b)(5)]

soos Original Message~-~~~

From: Carleten, Norman

Sent: Tuesday, June 19, 2001 2:42 PM

To: Annette Nazareth (E-mail); Belinda Blaine (E-mail); Bob Colby
(E-mail); Bob Zwirh (E-mail); David Wall; Diane Virzeras Eichner,
Matthew; Elizabeth Fox (E-mail); Eric Hirschhorn (E-mail); Hammer, Viva;
John Polise (E-mail); Joyce Hansen; Kathryn Dick (E-mail); Kevin
Erickson (E-mail); Kurt Wilhelm (E-mail); Lori Sanatamorena (E-mail);
Miguel Browne; Nickoloff, Peter; Novey, Michael; Pat Parkinson (E-mail);
Pat Whites Schultheiss, Heidilynne

Ce: Gross, Jared; Ellett, Martha; Sutton, Gary; Gabilondo, Jose;
DeMarco, Edward; Hughes, Gerry

Subject: FW: Suggested Interviewees

oneee Original Message-~----

From: Zwirb, Robert 3. [mailto:bzwirb@CcFTC.gov]
Sent: Tuesday, June 19, 2001 2:35 PM

To: 'Norman.Carleton@do,treas.gov’

Subject: Suggested Interviewees


{(b)(5)]

Norman

aaaaa Original Message-----

Prom: Hammond, Donald

Sent: Thursday, February 15, 2001 8:26 AM

To: DeMarco, Edward; Ellis, Dinas Huffman, Lucys Carleton, Norman; McInerney, Roberta;
Constantine, Eleni; Hughes, Gerry: Stewart, Lawranne

Ce: Tishuk, Brian; Robbins, Eric

Subject: RE: Bankruptcy Reform Mark-up Hearing

Ed,

{(o)(5)]

{(b)(5)}

Don


From: Affleck-Smith, Joan

Sent: Wednesday, February 20, 2002 5:51 PM

To: SearchCameo

Subject: CAMEO Recon found a word: Enron sent by
(O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM3 DOPOS.ROB

ERTSONL to Carter, Ted; Arkin, Steve; Baker, Ros, Conly, Sonia; Cumby, Robert; Davie,
Bruce; DeLaVina, Lynda; Flanagan, Rosemary, Gerardi, Geraldine, H

This message was found to have a Critical Word in it. Message Sent to Carter, Ted; Arkin,
Steve; Baker, Ros; Conly, Sonia; Cumby, Rebert; Davie, Bruce; DeLaVina, Lynda; Flanagan,
Rosemary; Gerardi, Geraldine; Holtzblatt, Janet; Iwry, Mark; Knopf, Kevin; McCubbin,
Janet; Mikrut, Joseph; Talisman, Jon; Vandivier, David; Walker, Deborah; Atkinson,
Caroline; Baukol, Andrew; Budington, Michele; Cetina, Jill; Chaves, Mary; Eichenberger,
Joe; Fall, James; Geithner, Timothy; Gelpern, Anna; John, James; Lee, Nancy; Lowery, Clay;
Ludden, Ken; Schuerch, William; Stedman, Louellen; Truman, Ted; Walsh, Helen; Alagiri,
Priyas Andrews, Lisa; Arnold, Thomas; Bordoff, Jason; Cameron, Art; Carter, Jana: Cohen,
Alan; Comstock, Neal; Decker, Larry: Desler, Anne? Egolf, Brian; Eizenstat, Stuart; Fant,
William: Flanders, Stephanie: Gathers, Shirley: Grayson, Cherry; Harvey, Reavie: Herold,
Valerie; Johnson, Linda: Jones, Janet; Joseph, Verlene; Keene, Carolyn; Keller, Alan; Kim,
Carol; Klasky, Helaine; Levine, Marne; Longbrake, John; Luce, Ed? Matera, Cheryl;
McAuliffe, Laura; Mejia, Annabella; Moore, Holly; Muldoon, Lara; Nisanci, Didem: Powell,
Lindas Robertson, Linda: Sandberg, Sheryl: Smith, Michelle A.: Starks, Oras; Stern, Todd:
Summers, Larry: Toohey, Frank; Valentic, Marsha; Barber, Francine; Barbour, Gaylen;
Bieger, Peter; Carro, Richard; Cohen, David; Edsall, Alexandra; Greene, Michelle; Joy,
David; Kellogg, Cliff; MeGivern, Tom; McHale, Stephen; McInerney, Roberta; Sachs, Lee;
Wolin, Neal; ex.mail.JONESM; ex.mail.VJORSTAD; Adashek, Jonathan; Affleck-Smith, Joan;
Baer, Gregory; Barr, Michael; Bell, Rochelle; Beresik, Michael; Bresee, Elisabeth;
DeMarco, Edward; Foote, Norman; Gensler, Gary; Johnson, James; Lebryk, David; Ross, Lisa,
From /O=USTREASURY/OU*DO/CN*RECIPIENTS/CN=GROUPWISE/CN#=DOM3.DOPOS.ROBERTSONL, CC to , Date
11/3/2000 4:31:00 PM, Subject of message Thanks

Word(s) found: Enron

From: /O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM3. DOPOS. ROBERTSONL

Sent: 11/3/2000 4:31:00 FN

Received: 11/3/2000 4:31:30 FM

To: Carter, Ted,

EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/ CN=GROUPWISE/CN=DOM11.DOPO4.CARTERT
Arkin, Steve,

EX: /OUSTREASURY/OU=DO/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM1 3. DOPO? .ARKINS
Baker, Ros, EX:/O#USTREASURY/OU*DO/CN*RECI PIENTS/CN*GROUPWISE/CN*DOM13.DOPO7. BAKERR
Conly, Sonia,

EX: /O*USTREASURY /OU*DO/CN*RECIPIENTS/CN#GRCUPW1SE/CN*DOM1 3. DOPO7 . CONLYS
Cumby, Robert,

EX: /O*USTREASURY/OU*DO/CNWRECI PIENTS/CN*GROUPWISE/CN*DOM13.DOPO7.CUMBYR
Davie, Bruce,

EX: /O=USTREASURY /OU=DO/CN=RECI PIENTS/CN@GROUPWISE/CN=DOM13.DOPO7. DAVIEB
DeLaVina, Lynda,

EX: /O*USTREASURY/OU=DO/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM13.DOPO7. DELAVINAL
Flanagan, Rosemary,

Ex: /O=USTREASURY /QU=DO/Cht=RECIPI ENTS/CN=GROUPWISE/CN=DOM13.DOPO7. FLANAGANR,
Gerardi, Geraldine,

EX: /O@USTREASURY /OU=DO/CN=RECIPIENTS/Ch=GROUPWISE/CN=DOM1 3. DOPO7 , GERARDIG
Holtzblatt, Janet,

EX: /O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM13.DOPO7 -HOLTZBLATTJ
Iwry, Mark, EX:/O*USTREASURY/OU=DO/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM13.DOPO7. IWRYM
Knopf, Kevin,

EX: /O*USTREASURY/OU*DO/CN*RECI PIENTS/CNGROUPWISE/CN*DOM13.DOPO7. KNOPEK
McCubbin, Janet,

EX: /OUSTREASURY /OU*DO/CN*RECI PIENTS/CN*GROUPWISE/CN*DOM13.DOPO7 .MCCUBBING
Mikrut, Joseph,


April 5 to discuss the West Coast energy crisis. I see no reason to object. Thoughts?
Staeata bate End of message body

Message auditing by MicroData CAMEO Recon


harold. ray@sce.com, SMTP:harold. ray@sce.com
dreed@sdge.com, SHTP:dreed@sdge.com
waakari ige.com, SMTP:wsakaria@sdge.com
rahayes' worldwide.com, SMTP: rahaye:
s)capomalseiworldwide.com, SMTP:sjcapoma@seiworldwide.com
mtierney@sempra,com, SMTP:mtierney@sempra.com

sonnet. edmonds@southernenergy.com, SMTP: sonnet .edmonds@southernenergy. com
cread@steptoe.com, SMTP; cread@steptoe.com

temoreland@swidlaw.com, SMTP:temoreland@swidlaw.com
Julie.greenisen@troutmansanders.com, SMTP: julie. greenisen@troutmansanders.com
alex.goldberg@williams.com, SMTP:alex.goldberg@williams.com

((b)(6)}

ce: Barbour, Gaylen, EX:/O=USTREASURY/OU#DO/CN#RECI PIENTS/CN*=BARSOURG
Curtis Wagner, SMTP:curtis.wagner@ferc. fed.us

Subject: RE: California Energy Group e-mail
Body:

Latest version of Long-Term Contracts Group report.
ctatatehated End of message body

Message auditing by MicroData CAMEO Recon


Mara’; ‘Terri Moreland'; ‘Tripp Ballard’; ‘Wayne Sakarias’
CerBarbour, Gaylen
Subject:RE: California Energy Group

more e-mail corrections included. the document is attached. we

will reconvene in the same conference room (6th floor, metropolitan
square) at 9am tomorrow. any questions, please call lee sachs's office at
622-2245. thanks.

<< File: Working Group report 4.doc >>

vVvVVV¥VV VY

o---+ Original Message-----

From: Stokes, Veronica

Sent:Thursday, January 11, 2001 4:56 PM

TotAlex Goldberg; Alex Makler; Charles C. Read; Claudia

Greif; Curtis Wagner Jr.; Dan Poffenberger; David Wilcox; Debra Reed; Dede
Mapner; Harold 8. Ray: James Macias; Jan Smutney Jones; Jason Seliymany
Joe Bob Perkinss Joel Newton; John Fielder; Julia Greenisen? Karen A.
Tomcala: Keith McCrea; Larry Eisenstat: Lee Sachs; Linda Lee; Lynn
Lednicky; Martha Altamar; Michael Tierney; Paul Mohler; Rich Glick; Fob
Hayes; Ross Ain + Roy Kugas Sean Gallagher; Sonnet Edmonds; Steve Vanleer;
Steven Capomaccio; Sue Mara: Terri Moreland; Tripp Ballard; Wayne Sakarias
Ce:Greene, Michelle; Barbour, Gaylen

Subject:FW: California Energy Group

This is a test to provide a comprehensive listing for those

who participated in the Treasury Department California Energy Group
meetings this week. If you know of anyone else who should be added to
thia list, please call at (202) 622-2245.

VVV¥Y¥YVV¥¥ YY VV

<< Message: California Energy Group >>

------ End of message body
Message auditing by MicroData CAMEO Recon


2ITICKER: PCG EIX

SUBJECT: CRUD COBO MU ENER UTIL USA
Copyright (c) 2001 Reuters

Received by NewsEDGE/LAN: 1/12/01 3:24 PM

=DJ POWER POINTS: By The Numbers, Calif Pwr Deal Looks Good
Dow Jones International News Service via Dow Jones

By Mark Golden
A Dow Jones Newswires Column

NEW YORK (Dow Jones)--Grandstanding by negotiators in Washington, D.C., on the
California electricity crisis indicates the sides are too far apart for an
agreement this weekend, but the actual numbers involved ra the question: How
can they not get this done?

California Gov, Gray Davis, on behalf of the utilities that contribute so
generously to his campaign funds, is demanding three-year supply contracts at
5.5 cents a kilowatt-hour. “We've got to stop the hemorrhaging of utility cash,
but I can't possibly have another rate increase or any state bailout,” the
governor is saying.

According to sources, U.S. Treasury Secretary Lawrence Summers and the
generating company chief executives looked at Davis with a "What are you
amoking?"” expression several times Tuesday night. The generators’ stance is that
the market price is 8.5 cents/kwh and only if the contracts run for eight years.

But that's all just negotiating position. The customers of Edison
International's (EIX} Southern California Edison currently pay the company 7.6
cents/kwh just for energy. That price includes last week's one-cent raise, but
not other charges such as transmission and distribution.

Edison generates half the power it needs at a cost of about 3 cents/kwh. So,
purchasing the other half at 5.5 cents/kwh would do a lot more than stop the
hemorrhaging. If the cost of purchased power were 5.5 cents, Edison's average
cost would be 4.3 cents, for which they are getting paid 7.6 cents. That 3.3
cents/kwh profit on the 83 billion kwh Edison sells a year comes to a whopping
$2.7 billion annually. End of credit problem.

PGGE Corp.'s (PCG) situation is more difficult. Their customers pay less for
electricity, and PGSE only generates a third of its own power, but they have
lower generating costs than Edison. Bottom line: if PG&E could buy supplies at
5.5 cents/kwh, they would be left with 1.9 cents/kwh profit.

Unfortunately for the utilities, California independent generators, such as
Reliant Energy (REI), NAG Energy (NRG), Dynegy (DYN), Southern Energy (SOE) and
Duke Energy (DUK), can't get their prices down to 5.5 cents/kwh in California
given the current market price of natural gas.

But they don't need anything close to 8.5 cents for eight yea The forward
price for wholesale power in California for the balance of this year is 18
cents/kwh for the on-peak hours, which is what the utilities mostly need to buy,
The on-peak price drops to 11 cents/kwh for a three-year contract because new
generators and new gas supplies are expected to come on line. For an eight-year
contract, the price dropa te about 7,3 cents/kwh.

At 7.3 cents, PG&E would be heading to bankruptcy court. But the generators
will get to sell PG&E some off-peak power, too, which brings the average price
down a little further. If the governor guarantees really quick licensing for a
couple of new power plants in northern California, the price comes down a lot.

What's more, to save derequlation in the U.S. the generators are willing to


year’s high wholesale power prices, and will not have time to recover these costs before the
transition rules expire in 2002. To illustrate, in recent years, these two companies, plus the
smaller San Diego Electric and Gas, have been paying about $23 billion annually to buy power,
This year, power costs have reached $850 million on some days, The result has been to add more
than $6 billion in debt over the last 7 months. This exceeds the companies’ old stranded costs,
mostly from nuclear plant investments, that had caused so much political commotion in the early
1990s. The financial situation of these two companies is precarious enough that generating
companies selling to them are now asking for letters of credit before signing contracts.

bills as long as necessary to amortize the stranded costs, but not beyond 2002. San Diego Electric
and Gas has paid off its old stranded costs, and its power rates now reflect prices in the
wholesale market. In contrast, customers of Southern California Edison and Pacific Gas and
Electric are still paying for old stranded costs, so their rates do not yet reflect this summer's high
wholesale prices. The difference between high wholesale prices and the lower regulated rates
continues to accumulate in the stranded cost account


RECLAIM should help restore confidence and improve the performance of the
program,

“I don't think we're looking at Humpty Dumpty," he said, "The sorts of
changes we are proposing will fix the difficulties the program has experienced
over the last year. This is a bump in the road, a perturbation, and with rule
amendments we will be back on the path of achieving the design objectives.”

~-=--Original Nessage~---~-

From: Squitieri, Ray

Sent: Wednesday, April 25, 2001 4:00 2M

To: Soares, Chris

Subject: FW: EPA-03-A, EPA's response to Dingell's letter on Barton's draft leg
“Electricity Emergency Relief Act

Importance: High

((o)(5)]

o-oo Original Message-----

From: Ellis, Dina

Sent: Wedni ¥, April 25, 2001 2:07 PM

To: Cetina, Jills; Cononi, Rachel; Constantine, Eleni: Flynn, Timothy; Gerardi, Geraldine;
Gross, Jared; Hambor, John; Hendershot, Kar Kiefer, Donald; Kinard, Yvette; McInerney,
Roberta; Paulus, Michael; Rao, Geetha; Soares, Chris; Sokolov, Dan; Squitieri, Ray;
Stokes, Veronica

Subject: Fu: EPA-O03-A, EPA's response to Dingell's letter on Barton's draft leg
“Electricity Emergency Relief Act

Importance: High

please take a look at this. thanks.

-~----Original Message-----

From: LLR

Sent: Wednesday, April 25, 2001 1:53 2M

To: Finch, Glenda; Brown, Lynn; Kinard, Yvette; Wiss, Barbara?
‘yvette.camp@fms.treas.gov'; 'EGRONSET@BPD.TREAS.GOV'; Parcell, John; Snowden, Carolyn;
Murphy, William: Ellis, Dina

Ce: Fishburn, Andy; ‘DelmarR@0IG.treas.gov';: Farrell, Paula; Bailey, Ann: Maryott, Carl:
‘tricia, long@fms.treas.gov'; 'Tom.Longneckeréfms.treas.gov'; ‘PHollenbach@bpd.treas.gov';
Wilson, Carole; Granat, Rochelle; Carro, Richard; Dorsey, Karen; Levy, Ronald; McGivern,
Tom; Vagle, Steven

Subject; EPA-03-A, EPA's response to Dingell's letter on Barton's draft leg "Electricity
Emergency Relief Act

Importance: High

REQUEST FOR COMMENTS

Due Date: APRIL 26, 2001 12:00


From: Constantine, Eleni

Sent: Wednesday, February 20, 2002 6:57 PM
To: SearchCameo
Subject: CAMEO Recon found a word: Enron sent by Hammond, Donald to Carleton, Norman;

DeMarco, Edward; Ellis, Dina; Huffman, Lucy, Mclnemey, Roberta; Constantine, Eleni;
Hughes, Gerry; Stewart, Lawranne on 2/15/2001 10:24:49 AM

This message was found to have a Critical Word in it. Message Sent to Carleton, Norman;
DeMarco, Edward; Ellis, Dina; Huffman, Lucy: McInerney, Roberta; Constantine, Eleni:
Hughes, Gerry; Stewart, Lawranne, Prom Hammond, Donald, CC to Tishuk, Brian; Robbins,
Eric; Paulus, Michael; Sutton, Gary) Huffman, Lucy: McGivern, Toms Nickoloff, Peter;
Schultheiss, Heidilynne;: Gross, Jared, Date 2/15/2001 10:24:49 AM, Subject of message RE:
Bankruptcy Reform Mark-up Rearing

Word(s) found: Enron

From: Hammond, Do’

Sent: 2/15/2001 10:24:49 AM

Received: 2/15/2001 10:24:49 AM

To: Carleton, Norman, EX: /O#USTREASURY/OU=DO/CN@RECIPIENTS/CN@CARLETONN
DeMarco, Edward, EX: /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=DEMARCOE
Ellis, Dina, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CNeEllisD
Huffman, Lucy, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=HUFEMANL
McInerney, Roberta, EX:/O=-USTREASURY/OU=D0/CN=RECI PIENTS/CN=MCINERNEYR
Constantine, Eleni, EX:/O=USTREASURY/OU=D0/CN=RECIPIENTS/CH=CONSTANTINEE
Hughes, Gerry, EX:/O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=HUGHESG
Stewart, Lawranne, EX: /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=STEWARTLAW

cc: Tishuk, Brian, EX:/O=-USTREASURY/OU=D0/CN=RECIPIENTS/CN=TISHUKB
Rebbins, Eric, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=ROBBINSE
Paulus, Michael, EX:/O=USTREASURY/OU*DO/CN#RECIPIENTS/CN#PaulusM
Sutton, Gary, EX: /O*USTREASURY/OU#DO/CN*RECIPIENTS/CN*SuttonG
Huffman, Lucy, EX: /O-USTREASURY/OU+DO/CN+RECIPIENTS/CN+HUPEMANL
MeGivern, Tom, EX: /O=USTREASURY/OU#DO/CN*RECIPIENTS/CN*MCGIVERNT
Nickoloff, Peter, EX: /O-USTREASURY/OU*DO/CN*RECIPIENTS/CN=NICKOLOFFP
Schultheiss, Heidilynne, EX: /O-USTREASURY/OU*DO/CN+RECIPIENTS/CHeSchultheissh
Gross, Jared, EX: /OsUSTREASURY/OU@DO/CN*RECIPIENTS/CNeGrossJa

Subject: RE: Bankruptcy Reform Mark-up Hearing
Body:
Norman,

Thanks. TI believe that the netting provisions will be a major agenda item at next week's
Working Group meeting. 1 think it is very useful to have that discussion before meeting
with the Hill staff.

woeen Original Message-----

From Carleton, Norman

Sent: Thursday, February 15, 2001 10:07 AM

To: Hammond, Donald; DeMarco, Edward; Ellis, Dina; Huffman, Lucy; McInerney, Roberta;
Constantine, Eleni; Hughes, Gerry; Stewart, Lawranne

Cc: Tishuk, Brian; Robbins, Eric; Paulus, Michael; Sutton, Gary; Huffman, Lucy;
McGivern, Tom; Nickoloff, Peter; Schultheiss, Heidilynne; Gross, Jared

Subject: RE: Bankruptcy Reform Mark-up Hearing

Don,

{(b)(5)}


From: Wilcox, David

Sent: Thursday, February 21, 2002 12:48 AM

To: SearchCameo
CAMEO Recon found a word: Enron sent by Wilcox, David to Wilcox, David; Sachs, Lee;
‘Soares, Chris; ‘Martha Altamar’, ‘alexm@calpine, com’, macias@calpine,com’ ‘jason_s.
_Seligman@cea.eop.gov’; ‘shg@cpuc.ca gov’; Greene, Michelle; Squitieri, Ray; Stokes,

Final pel.doc Final p2.doc

This message was found to have a Critical Word in it. Message
Sent to Wilcox, David; Sachs, Lee; Soares, Chris; ‘Martha Altamar'; ‘alexm@calpine.com';
‘ymacias@calpine.com'; ‘jason. ligmanécea.eop.gov'; ‘shg@cpuc.ca.gov'; Greene,
Michelle; Squitiers, Ray? Stokes, Veronica; ‘eisenstatl@DSMO.com'; 'sbvanleer@duke~
energy.com'; ‘joel.newton@dynegy.com'; ‘lynn. lednicky@dynegy.com’; ‘smara@enron.com';
‘Linda Lee’; 'dan.poffenberger@ferc.ged.gov'; ‘pmohler@hewm.com';
‘richard.glick@hq.doe.gov'; ‘smutany@iepa.com'; 'karen.tomcala@pge-corp.com'; ‘cxg2
@pge.com'; "DxH4@pge.com'; ‘AMK4@pge.com’; 'joebob-perkins@reliantenergy.com';
‘marvin_k_ballard@reliantenergy.com"; 'KMcCrea@sablaw.com’; ‘fieldejr@sce.com';
‘harold, ray@sce.com'; ‘dreed@sdge.com'; "wsakaria@sdge.com'; ‘rahayes@seiworldwide.com';
‘sjcapoma@seiworldwide.com'; ‘mtierney@sempra.com'; "sonnet.edmonds@southernenergy.com';
‘cxead@steptoe. com’; nsrcon's (BNO "julie. greenisen@troutmansanders.com';
‘alex.goldberg@williams. com' , (b)(6)] 2, Adming ‘ronald minsk@opd. +e0p. +gov's
‘jmdonnell@duke-energy.com'; ‘h wer@duke-energy. com’ i 'bbailey@duke-energy.com'
‘nideschanefduke-energy.com'; "wfhall@duke-energy.com'; ‘sbvanleer@duke-energy.com'; ‘rmk4
Qpge.com'; "ddrQ@pge.com'; ‘rip2@pge.com’; 'starckle@sce.com'; 'john.gammie@williams.com':
‘reharris@seiworldwide.com'; 'smfuller@seiworldwide.com'; 'dilmiller@seiworldwide.com';
‘jwholden@seiworldwide.com'; ‘richard.shapiro@enron.com'; ‘robert.badeer@enron.com', From
Wilcox, David, CC to Barbour, Gaylen; ‘Curtis Wagner’, Date 1/12/2001 5:51:26 PM, Subject
of message RE: California Energy Group e-mail TEST MESSAGE

Word(s) found: Enron

woooe Original Message----~-

From: Wilcox, David

Sent: 1/12/2001 5:51:26 PM

Received: 1/12/2001 5:51:26 PM

To: Wilcox, David, EX:/O=USTREASURY/OU#DO/CN=RECIPIENTS/CN=WILCOXD
Sachs, Lee, EX: /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=Sachst
Soares, Chris, EX:/O-USTREASURY/OU=D0/CN=RECI PIENTS/CN=SOARESC
"Martha Altamar', SMTP:martha.altamar@ferc. fed.us
*alexm@calpine.com', SMTF:alexm@calpine.com
*4maciasBcalpine.com', SMTP:4imacias@calpine.com
*jason_s, seligman@cea.eop.gov', SMTP:jason_s. seligmanécea.eop.gov
*shg@cpuc.ca.gov', SMTP: shg@cpuc.ca.gov
Greene, Michelle, EX: /O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=GREENEMI
Squitieri, Ray, EX: /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN*SQUITIERIR
Stokes, Veronica, EX: /O=USTREASURY/OU=DO/CN*RECIPIENTS/CN=STOKESV
*elsenstatl@DSMO.com', SMTP:eisenstatl@DSMO. com
"sbvanleerGduke-energy.com'’, SMTP: sbvanleer@duke-energy.com
"Joel. newton@dynegy.com', SMTP: joel. newton@dynegy. com
"lynn. lednicky@dynegy.com', SMTP:lynn.lednicky@dynegy.com
*smarafenron.com', SMTPismarafenron.com
"Linda Lee’, SMTP: linda. lee@ferc. fed.us
“dan. poffenberger@ferc.ged.gov', SMTP:dan.poffenberger8ferc.ged.gov
*pmohler@hewm.com', SMTP:pmohler@hewm.com
*richard.glick@hq.doe.gov', SMT?:richard.glick#hq.doe.gov
“smutany@iepa,com’, SMTP: smutany@iepa.com
"karen, tomcala@pge-corp.com', SHTP:karen.tomcala@pge-corp.com
‘oxg2@pge.com'’, SMTP:cxg2@pge.com
"DxH4@pge.com’, SMTP: DxH4@pge.com



sjcapoma@seiworldwide.com, SMTP:sjcapoma@selworldwide.com
mtierney@sempra.com, SMTP:mtierneyésempra.com
sonnet.edmonds@southernenergy.com, SMTP: sonnet.edmonds@southernenergy.com
cread@steptoe.com, SMTP:cread@steptce.com

temoreland@swidlaw.com, SMTP:temoreland@swidlaw. com

julie. greenisen@troutmansanders.com, SMTP: julie, greenisen@troutmansanders,com
alex.goldberg@williams.com, SHTP:alex.qoldberq@williams.com

{()(6)]
CC: Gaylen.Barbourédo.treas.gov, SMTP:Gaylen.Barbourddo.treas.gov
Curtis Wagner, SMTP:curtis.wagner@ferc. fed.us

Subject: RE: California Energy Group e-mail

Body:

Please add Chief Judge Wagner's name to the mailing list. His E-mail address is:
curtis.wagner@ferc.fed.us Thanks.

Martha

>>> Linda Lee 01/12/01 08:55AM >>>
The requested address is: daniel.poffenberger@ferc, fed.us Thanks

>>> < Michelle.Greene@do.treas.gov > 01/12/01 08:45AM >>>

please use reply all to this age when sending items to the group (more
corrected addresses have been added).
thanks.

eceea| Original Message-~--~

From: Greene, Michelle

Sent:Thursday, January 11, 2001 9:16 PM

TorGreene, Michelle; Stokes, Veronica; ' alex.goldberg@williams.com" ;
‘Alex Makler'; ‘Charles C. Read'; ‘Claudia Greif’; ‘Curtis Wagner Jr.'"3

' dan.poffenberger@ferc.ged.us' ; Wilcox, David; ‘Debra Re "Dede
Mapner'; ‘Harold B. Ray's ‘James Macias'; ‘Jan Smutney Jones’;

* jason_s. seligman@cea.eop.gov' ; ‘Joe Bob Perkins'; ‘Joel Newton’: ‘John
Fielder’; ' julia.greenisen@troutmansanders.com’ ; ‘Karen A. Tomcala';
‘Keith McCrea’; ‘Larry Eisenstat'; Sachs, Lee; ‘Linda Lee’;

' lynn. lednicky@dynegy.com’ ; ‘Martha Altamar'; ‘Michael Tierney’; ‘Paul
Mohler’; ‘Rich Glick'; ‘Rob Hayes’; ‘Ross Ain '; ' RHK@pge.com’ ; ‘Sean
Gallagher’; ‘Sonnet Edmonds'; ‘Steve Vanleer'; ‘Steven Capomaccio'; ‘Sue
Mara’; ‘Terri Moreland'; ‘Tripp Ballard'; ‘Wayne Sakarias'; Soares, Chris;
Squitieri, Ray

Ce:Barbour, Gaylen

Subject:RE: California Energy Group - missing e-mail addresses

we still have incorrect e-mail addresses for the following people:

julie greenisen (sp.?) (troutman sanders)

roy kugen (sp.?) (pgse)

jim macias (calpine)

dan poffenberger (sp.?) (ferc)

if anyone knows their correct e-mails, please forward the document to them
and add the correct version of their e-mail to this group list. thanks.

--Original Message--
From: Greene, Michelle
Sent:Thurscay, January 11, 2001 8:07 PM

To:Stokes, Veronica; ' alex.goldberg@williams.com' ; ‘Alex

Makler'; ‘Charles C. Read’; ‘Claudia Greif’; ‘Curtis Wagner Jr.';

‘ dan, poffenberger@ferc.ged.us' ; Wilcox, David; ‘Debra Reed’; ‘Dede
Hapner'; ‘Harold B. Ray’; ‘James Macias'; ‘Jan Smutney Jones’;

' jason _s. seligman@cea.eop.gov’ ; "Joe Bob Perkins'; ‘Joel Newton’; ‘John
Fielder’; 7 julia.greenisen@troutmansanders.com' ; ‘Karen A. Tomeala';
"Meith McCrea’; ‘Larry Eisenstat'; Sachs, Lee; ‘Linda Lee";

* lynn.lednicky@dynegy.com" ; ‘Martha Altamac’; "Michael Tierney’; "Paul
Mohler"; "Rich Glick'; "Rob Hayes"; ‘Ross Ain '; ' RHK@pge.com’ ; ‘Sean
Gallagher"; ‘Sonnet Edmonds'; ‘Steve Vanleer'; ‘Steven Capomaccio'; ‘Sue

VV VV VV VV VV VV


(END) Dow Jones Newswires 12-01-01

1800GMT

(AP-DJ-01-12-01 1800GMT)

sTICKER: CPN DUK DYN EIX ENE INTC NRG PCG REI SO SOE
SUBJECT: EUTL SEMI DI1 DI4 DI2 CA GA MN NC TX COMM
Copyright (c) 2001 Dow Jones and Company, Inc.
Received by NewsEDGE/LAN: 1/12/01 12:55 PM

= End of message body

Message auditing by MicroData CAMEO Recon


From: Affleck-Smith, Joan

Sent: Wednesday, February 20, 2002 7:27 PM

To: SearchCameo

Subject: CAMEO Recon found a word: Enron sent by
/O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM13,00PO7 VAN

DIVIERD to Carter, Ted; Arkin, Steve; Baker, Ros; Conly, Sonia; Cumby, Robert; Davie,
Bruce; DeLaVina, Lynda; Flanagan, Rosemary, Gerardi, Geraldine;

This message was found to have a Critical Word in it. Message Sent to Carter, Ted; Arkin,
Steve; Baker, Ros; Conly, Sonia; Cumby, Rebert; Davie, Bruce; DeLaVina, Lynda; Flanagan,
Rosemary; Gerardi, Geraldine; Holtzblatt, Janet; Iwry, Mark; Knopf, Kevin; McCubbin,
Janet; Mikrut, Joseph; Talisman, Jon; Walker, Deborah; Atkinson, Caroline; Baukol, Andrew;
Budington, Michele; Cetina, Jill; Chaves, Mary; Eichenberger, Joe; Fall, James; Geithner,
Timothy; Gelpern, Anna; John, James; Lee, Nancy; Lowery, Clay; Ludden, Ken; Schuerch,
William; Stedman, Louellen; Truman, Ted; Walsh, Helen; Alagiri, Priya; Andrews, Lisa;
Arnold, Thomas; Bordoff, Jason; Cameron, Art; Carter, Jana; Cohen, Alan; Comstock, Neal;
Decker, Larry: Desler, Anne; Egolf, Brian; Eizenstat, Stuart; Fant, William; Flanders,
Stephanie; Gathers, Shirley; Grayson, Cherry; Harvey, Reavie; Herold, Valerie; Johnson,
Linda: Jones, Janet; Joseph, Verlene; Keene, Carolyn; Keller, Alan; Kim, Carol; Klasky,
Helaine; Levine, Marne; Longbrake, John; Luce, Ed; Matera, Cheryl; McAuliffe, Laura?
Mejia, Annabella; Moore, Holly; Muldoon, Lara; Wisanci, Didem; Powell, Linda; Robertson,
Linda: Sandberg, Sheryl; Smith, Michelle A.: Starks, Ora; Stern, Todd; Summers, Larry;
Toohey, Frank; Valentic, Marsha; Barber, Francine; Barbour, Gaylen; Bieger, Peter; Carro,
Richard; Cohen, David; Edsall, Alexandra; Greene, Michelle; Joy, David; Kellogg, Cliff;
McGivern, Tom; McHale, Stephen; McInerney, Roberta; Sachs, Lee; Wolin, Neal;
ex.mail,JONESM; ex.mail.VJORSTAD; Adashek, Jonathan; Affleck-Smith, Joan; Baer, Gregory;
Barr, Michael; Bell, Rochelle; Beresik, Michael; Bresee, Elisabeth; DeMarco, Edward;
Foote, Norman; Gensler, Gary; Johnson, James; Lebryk, David; Hoss, Lisa, From
/O=USTREASURY/OU*DO/CN*RECI PIENTS/CN*GROUPWISE/CN*DOM13.DOPO7.VANDIVIERD, CC to , Date
11/3/2000 5:08:00 PM, Subject of message Thanks -Reply

Word(s) found: Enron

From: /O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM13.DOPO7. VANDIVIERD

Sent: 11/3/2000 5:08:00 FN

Received: 11/3/2000 5:08:16 FM

To: Carter, Ted,

EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/ CN=GROUPWISE/CN=DOM11.DOPO4.CARTERT
Arkin, Steve,

EX: /OUSTREASURY/OU=DO/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM1 3. DOPO? .ARKINS
Baker, Ros, EX:/O#USTREASURY/OU*DO/CN*RECI PIENTS/CN*GROUPWISE/CN*DOM13.DOPO7. BAKERR
Conly, Sonia,

EX: /O*USTREASURY /OU*DO/CN*RECIPIENTS/CN#GRCUPW1SE/CN*DOM1 3. DOPO7 . CONLYS
Cumby, Robert,

EX: /O*USTREASURY/OU*DO/CNWRECI PIENTS/CN*GROUPWISE/CN*DOM13.DOPO7.CUMBYR
Davie, Bruce,

EX: /O=USTREASURY /OU=DO/CN=RECI PIENTS/CN@GROUPWISE/CN=DOM13.DOPO7. DAVIEB
DeLaVina, Lynda,

EX: /O*USTREASURY/OU=DO/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM13.DOPO7. DELAVINAL
Flanagan, Rosemary,

Ex: /O=USTREASURY /QU=DO/Cht=RECIPI ENTS/CN=GROUPWISE/CN=DOM13.DOPO7. FLANAGANR,
Gerardi, Geraldine,

EX: /O@USTREASURY /OU=DO/CN=RECIPIENTS/Ch=GROUPWISE/CN=DOM1 3. DOPO7 , GERARDIG
Holtzblatt, Janet,

EX: /O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM13.DOPO7 -HOLTZBLATTJ
Iwry, Mark, EX:/O*USTREASURY/OU=DO/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM13.DOPO7. IWRYM
Knopf, Kevin,

EX: /O*USTREASURY/OU*DO/CN*RECI PIENTS/CNGROUPWISE/CN*DOM13.DOPO7. KNOPEK
McCubbin, Janet,

EX: /OUSTREASURY /OU*DO/CN*RECI PIENTS/CN*GROUPWISE/CN*DOM13.DOPO7 .MCCUBBING
Mikrut, Joseph,


{(b)(5)]


[(b)(5)}

Norman

aml ‘Original Message-----

From: Hammond, Donald

Sent: Thursday, February 15, 2001 9:26 AM

To: DeMarco, Edward; Ellis, Dina; Huffman, Lucy; Carleton, Norman; McInerney, Roberta;
Constantine, Eleni; Hughes, Gerry; Stewart, Lawranne

Ce: Tishuk, Brians Robbins, Eric

Subject: RE: Bankruptcy Reform Mark-up Hearing

Ed.

((b)(5)}

Norman,

{(b)(5)}

Don

-----Original Message-----

From: DeMarco, Edward

Sent: Thursday, February 15, 2001 9:22 AH

To: Hammond, Donald; Ellis, Dina; Huffman, Lucy; Carleton, Norman; McInerney, Roberta;
Constantine, Eleni; Hughes, Gerry; Stewart, Lawranne

Cc: Tishuk, Brian; Robbins, Eric

Subject: Fa: Bankruptcy Reform Mark-up Hearing

FYI

Original Measage~----

From: Robbins, Eric

Sentt Wednesday, February 14, 2001 5:45 2M
To: DeMarco, Edward

Ce: Tishuk, Brian

Subject: Bankruptcy Reform Mark-up Hearing


From: McHale, Stephen

Sent: Wednesday, February 20, 2002 8:55 PM

To: SearchCameo

Subject: CAMEO Recon found a word: Enron, Jeff Skilling sent by Adams, Tim to McHale, Stephen
on 4/4/2001 3:44:19 PM

This message was found to have a Critical Word in it. Message Sent to McHale, Stephen,
From Adams, Tim, CC to Aufhauser, David, Date 4/4/2001 3:44:19 PM, Subject of message
Personal Financial Issues

Word(s} found: Enron, Jeff Skilling

sone Original Message-----

From: Adams, Tim

Sent: 4/4/2001 3:44:19 PM

Received: 4/4/2001 3:44:19 PM

To: McHale, Stephen, EX:/O=USTREASURY/OU=DO/CN=RECI PIENTS/CN=MCHALES

cc: Aufhauser, David, EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=AUFHAUSERD

Subject: Personal Financial Issues
Body:

[(b)(5) , (b)(6))

Thanks! Tim
anesee End of message body

Message auditing by MicroData CAMEO Recon


(END) Dow Jones Newswires 12-01-01

1800GMT

(AP-DJ-01-12-01 1800GMT)

sTICKER: CPN DUK DYN EIX ENE INTC NRG PCG REI SO SOE
SUBJECT: EUTL SEMI DI1 DI4 DI2 CA GA MN NC TX COMM
Copyright (c) 2001 Dow Jones and Company, Inc.
Received by NewsEDGE/LAN: 1/12/01 12:55 PM

= End of message body

Message auditing by MicroData CAMEO Recon


December 15, 2000

To: David Wilcox
From Ray Squitieri
Subject: Paul Krugman's Claims about the California Power Market

((b)(5)]


From: Sachs, Lee

Sent: Wednesday, February 20, 2002 11:55 PM

To: SearchCameo
CAMEO Recon found a word: Enron sent by Wilcox, David to Wilcox, David; Sachs, Lee;
‘Soares, Chris; ‘Martha Altamar’, ‘alexm@calpine, com’, macias@calpine,com’ ‘jason_s.
_Seligman@cea.eop.gov’; ‘shg@cpuc.ca gov’; Greene, Michelle; Squitieri, Ray; Stokes,

Final pel.doc Final p2.doc

This message was found to have a Critical Word in it. Message
Sent to Wilcox, David; Sachs, Lee; Soares, Chris; ‘Martha Altamar'; ‘alexm@calpine.com';
‘ymacias@calpine.com'; ‘jason. ligmanécea.eop.gov'; ‘shg@cpuc.ca.gov'; Greene,
Michelle; Squitiers, Ray? Stokes, Veronica; ‘eisenstatl@DSMO.com'; 'sbvanleer@duke~
energy.com'; ‘joel.newton@dynegy.com'; ‘lynn. lednicky@dynegy.com’; ‘smara@enron.com';
‘Linda Lee’; 'dan.poffenberger@ferc.ged.gov'; ‘pmohler@hewm.com';
‘richard.glick@hq.doe.gov'; ‘smutany@iepa.com'; 'karen.tomcala@pge-corp.com'; ‘cxg2
@pge.com'; "DxH4@pge.com'; ‘AMK4@pge.com’; 'joebob-perkins@reliantenergy.com';
‘marvin_k_ballard@reliantenergy.com"; 'KMcCrea@sablaw.com’; ‘fieldejr@sce.com';
‘harold, ray@sce.com'; ‘dreed@sdge.com'; "wsakaria@sdge.com'; ‘rahayes@seiworldwide.com';
‘sjcapoma@seiworldwide.com'; ‘mtierney@sempra.com'; "sonnet.edmonds@southernenergy.com';
‘cxead@steptoe. com’; scons (KO "Julie. greenisen@troutmansanders.com';
‘alex.goldberg@williams. con" ; a) (8)] ‘y , Adming ‘ronald minsk@opd.eop.gov';
‘jmdonnell@duke-energy.com'; ‘h wer@duke-energy.com'; 'bbailey@duke-energy.com':
‘nideschanefduke-energy.com'; "wfhall@duke-energy.com'; ‘sbvanleer@duke-energy.com'; ‘rmk4
Qpge.com'; "ddrQ@pge.com'; ‘rip2@pge.com’; 'starckle@sce.com'; 'john.gammie@williams.com':
‘reharris@seiworldwide.com'; 'smfuller@seiworldwide.com'; 'dilmiller@seiworldwide.com';
‘jwholden@seiworldwide.com'; ‘richard.shapiro@enron.com'; ‘robert.badeer@enron.com', From
Wilcox, David, CC to Barbour, Gaylen; ‘Curtis Wagner’, Date 1/12/2001 5:51:26 PM, Subject
of message RE: California Energy Group e-mail TEST MESSAGE

Word(s) found: Enron

woooe Original Message----~-

From: Wilcox, David

Sent: 1/12/2001 5:51:26 PM

Received: 1/12/2001 5:51:26 PM

To: Wilcox, David, EX:/O=USTREASURY/OU#DO/CN=RECIPIENTS/CN=WILCOXD
Sachs, Lee, EX: /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=Sachst
Soares, Chris, EX:/O-USTREASURY/OU=D0/CN=RECI PIENTS/CN=SOARESC
"Martha Altamar', SMTP:martha.altamar@ferc. fed.us
*alexm@calpine.com', SMTF:alexm@calpine.com
*4maciasBcalpine.com', SMTP:4imacias@calpine.com
*jason_s, seligman@cea.eop.gov', SMTP:jason_s. seligmanécea.eop.gov
*shg@cpuc.ca.gov', SMTP: shg@cpuc.ca.gov
Greene, Michelle, EX: /O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=GREENEMI
Squitieri, Ray, EX: /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN*SQUITIERIR
Stokes, Veronica, EX: /O=USTREASURY/OU=DO/CN*RECIPIENTS/CN=STOKESV
*elsenstatl@DSMO.com', SMTP:eisenstatl@DSMO. com
"sbvanleerGduke-energy.com'’, SMTP: sbvanleer@duke-energy.com
"Joel. newton@dynegy.com', SMTP: joel. newton@dynegy. com
"lynn. lednicky@dynegy.com', SMTP:lynn.lednicky@dynegy.com
*smarafenron.com', SMTPismarafenron.com
"Linda Lee’, SMTP: linda. lee@ferc. fed.us
“dan. poffenberger@ferc.ged.gov', SMTP:dan.poffenberger8ferc.ged.gov
*pmohler@hewm.com', SMTP:pmohler@hewm.com
*richard.glick@hq.doe.gov', SMT?:richard.glick#hq.doe.gov
“smutany@iepa,com’, SMTP: smutany@iepa.com
"karen, tomcala@pge-corp.com', SHTP:karen.tomcala@pge-corp.com
‘oxg2@pge.com'’, SMTP:cxg2@pge.com
"DxH4@pge.com’, SMTP: DxH4@pge.com



{(b)(5)]


From: Constantine, Eleni
Sent: Wednesday, February 20, 2002 7:01 PM
To: SearchCameo

CAMEO Recon found a word: Enron, Jeff Skilling sent by Paulus, Michael to Mcinermey,
Roberta; Constantine, Eleni on 3/15/2001 6:02:02 PM

This message waa found to have a Critical Word in it. Message Sent to McInerney, Roberta;
Constantine, Eleni, From Paulus, Michael, CC to , Date 3/15/2001 6:02:02 PM, Subject of
message FW: Enron Meeting Request

Word(s) found: Enron, Jeff Skilling

From: Paulus, Michael

Sent: 3/15/2001 6:02:02 PM

Received: 3/15/2001 6:02:02 PM

To: McInerney, Roberta, EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=MCINERNEYR
Constantine, Eleni, EX:/O=USTREASURY/OU=D0/CN=RECI PIENTS/CH=CONSTANTINEE

ccs
Subject: Fu; Enron Meeting Request
Body:

Please see below. Any thoughts?

anaee Original Message-----

From: Ellis, Dina

Sent: Thureday, March 15, 2001 5:59 PM

To: Pisher, Peter; Paulus, Michael; Carleton, Norman
Ce: Gross, Jared

Subject: RE: Enron Meeting Request

seems ok to me..,should be run through GC.

Soatabates Original Message-----

From: Fisher, Peter

Sent: Thursday, March 15, 2001 5:31 PH

To: Paulus, Michael; Ellis, Dina; Carleton, Norman
Ce: Gross, Jared

Subject: RE: Enron Meeting Request

I also see no reason to object.

Prom: Paulus, Michael

Sent: Thursday, March 15, 2001 5:27 PM

To: Ellis, Dina; Fisher, Peter; Carleton, Norman
Cc: Gross, Jared

Subject: Enron Meeting Request

Jeff Skilling, President and CEO of Enron has requested a meeting with the Secretary for
April S to discuss the West Coast energy crisis. I see no reason to object. Thoughts?

oo End of message body

Message auditing by MicroData CAMEO Recon


From: Squitien, Ray
Sent: Thursday, February 21, 2002 12:19 AM
To: SearchCameo
CAMEO Recon found a word: Enron sent by Wilcox, David to Squitieri, Ray on 12/14/2000
2:52:41 PM
importance: High
califi.doc

This message was found to have a Critical Word in it. Message Sent to
Squitieri, Ray, From Wilcox, David, CC to Chryst, Nancy: Vandivier, David; Rao, Geetha;
Flanagan, Rosemary; Cononi, Rachel; Flynn, Timothy; Murphy, Edward; Hambor, John, Date
12/14/2000 2:52:41 PM, Subject of message RE: Krugman on Calif power market

Word(s) found: Enron

noees| ‘Original Message~-----
From: Wilcox, David
Sent: 12/14/2000 2:52:41 PM
Received: 12/14/2000 2:52:41 2M
To: Squitieri, Ray, EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN@SQUITIERIR

cc: Chryst, Nancy, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=CHRYSTN
Vandivier, David, EX: /O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=VandivierD
Rao, Geetha, EX: /O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=RaoG
Flanagan, Rosemary, EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=FLANAGANR
Cononi, Rachel, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=CONONIR
Flynn, Timothy, £X;/O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=FlynnT
Murphy, Edward, EX: /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=MURPHYE
Hambor, John, EX: /O*USTREASURY/OU=DO/CN=RECIPIENTS/CN=HAMBORT

Subject: RE: Krugman on Calif power market

Body:

Ray: This is a very interesting piece. Please address the questions in the attached to
the best o f your ability, then forward the reault to Rosemary for processing to the
Secretary tonight if at all possible,

Rosemary: Please use the following as a transmittal note from me to Larry:

The attached note, prepared by Ray Squitieri, analyzes statements made by Paul Krugman
recently about the California market for electricity. It will be particularly relevant
background for a call from the CEO of Enron, should that occur.

Sttataies Original Message-----

From: Squitieri, Ray

Sent: Thursday, December 14, 2000 2:12 PM

To: Wilcox, David

Ce: Chryst, Nancy; Vandivier, David; Rao, Geetha; Flanagan, Rosemary;
Cononi, Rachel; Flynn, Timothy; Murphy, Edward; Hambor, John
Subject: Krugman on Calif power market

aa=s== End of message body

Message auditing by MicroData CAMEO Recon


------ End of message body
Message auditing by MicroData CAMEO Recon


From: McHale, Stephen

Sent: Wednesday, February 20, 2002 8:55 PM

To: SearchCameo

Subject: CAMEO Recon found a word: Enron, Jeff Skilling sent by Granat, Rochelle to McHale,

Stephen; Schmaizbach, Kenneth on 4/4/2001 4:57:46 PM

This message waa found to have a Critical Word in it. Message Sent to McHale, Stephen;
Schmalzbach, Kenneth, From Granat, Rochelle, CC to Adams, Tim; Rahilly, Lyn, Date 4/4/2001
4:57:46 PM, Subject of message RE: Personal Financial Issues

Word(s} found: Enron, Jeff Skilling

From: Granat, Rochelle

Sent: 4/4/2001 4:57:46 PM

Received: 4/4/2001 4:57:46 PM

To: McHale, Stephen, EX: /O=USTREASURY/OU=DO0/CN=RECIPIENTS/CN=MCHALES
Schmalzbach, Kenneth, EX: /O=USTREASURY/OU=D0/CN=RECI PL ENTS/CN=SCHMALZBACHK

cc: Adams, Tim, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=ADAMST
Rahilly, Lyn, EX: /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=RAHILLYL

Subject: RE: Personal Financial Issues
Body:
{(b)(5) , (b)(6))

wena Original Message-----

From: McHale, Stephen

Sent: Wednesday, April 04, 2001 4:00 PM

To: Schmalzbach, Kenneth; Granat, Rochelle
Cc: Adams, Tim

Subject: Fu: Personal Financial Issues

Please assign someone to work with Tim on this ASAP

~Original Message-----

From: Adams, Tim

Sent: Wednesday, April 04, 2001 3:44 2M
To: McHale, Stephen

Ce: <Aufhauser, David

Subject: Personal Financial Issues

[(b)(5) , (b)(6)]

Thanks! Tim

~ End of message body

Message auditing by MicroData CAMEO Recon


From: Constantine, Eleni
Sent: Wednesday, February 20, 2002 8:29 PM

SearchCameo
CAMEO Recon found a word: Enron, Jeff Skilling sent by Constantine, Eleni to Paulus,
Michael; Mcinemey, Roberta on 3/16/2001 1:47:33 PM

This message was found to have a Critical Word in it. Message Sent to Paulus, Michael;
McInerney, Roberta, From Constantine, Eleni, CC to , Date 3/16/2001 1:47:33 PM, Subject of
message RE: Enron Meeting Request

Word(s) found: Enron, Jeff Skilling

From: Constantine, Eleni

Sent: 3/16/2001 1:47:33 PM

Received: 3/16/2001 1:47:33 PM

To: Paulus, Michael, EX: /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=PaulusM
McInerney, Roberta, EX:/O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=NCINERNEYR

ccs

Subject: RE: Enron Meeting Request

Body:

Michael, Ken Schmalzbach has asked for more information on how this requests came in and
what the purpose of the meeting is. I'm at 2-1934 if you want to just give me a call. thx

anaee Original Message~----

From: Paulus, Michael

Sent: Thureday, March 15, 2001 6:02 PM

To: McInerney, Roberta; Constantine, Eleni
Subject: Fa: Enron Meeting Request

Please see below. Any thoughts?

~~---Original Message-----

From: Ellis, Dina

Sent; Thursday, March 15, 2001 5:59 PM

To: Fisher, Peter; Paulus, Michael; Carleton, Norman
Ce: Gross, Jared

Subject: RE: Enron Meeting Request

seems ok to me...should be run through GC.

sone Original Message-----

From: Fisher, Peter

Sent: Thursday, March 15, 2001 5:31 PM

To: Paulus, Michael; Ellis, Dina; Carleton, Norman
Ce: Gross, Jared

Subject: RE: Enron Meeting Request

I also see no reason to cbject.

ween Original Message-----

From: Paulus, Michael

Sent: Thursday, March 15, 2001 5:27 PM

To: Ellis, Dina; Fisher, Peter; Carleton, Norman
Ce: Gross, Jared

Subject: Enron Meeting Request

Jeff Skilling, President and CEO of Enron has requested a meeting with the Secretary for


From: Squitien, Ray

Sent: Thursday, February 21, 2002 12:19 AM

To: SearchCameo

Subject: CAMEO Recon found a word: Enron sent by Jone-Lin Wang to ‘Ray. Squitiei@do.treas.gov'
on 12/15/2000 12:01:52 PM

This message waa found to have a Critical Word in it. Message Sent to

‘Ray. Squitieri@do.treas.gov', From Jone-Lin Wang, CC to , Date 12/15/2000 12:01:52 PM,

Subject of message FW: Competition Accelerates in Texas, A Year Before Full Deregula
tion Is To Start

Word(s) found: Enron

—— Original Message-----

From: Jone-Lin Wang

Sent: 12/15/2000 12:01:52 &M

Received: 12/15/2000 11:59:28 AM

To: "Ray. Squitieri@do.treas.gov’, SMTP:Ray.Squitieri@do,treas.gov

ccs

Subject: Fa: Competition Accelerates in Texas, A Year Before Full Deregula tion Is To
Start

Body:

See comparison of CAvs TX at the bottom, most of which I agree. I am a proponent of the
bilateral market (as opposed to centralized pool); but I have yet to find any support of
this idea within CERA. Woof

~-Original Message-----

From: IssueAlert | mailtorIssueAlert@scientech.com]

Sent: Thursday, December 14, 2000 7:13 AM

Subject: Competition Accelerates in Texas, A Year Before Full
Deregulation Is To Start

http: //wew. consultred.com

SORE RAR e sess teense sees hess seeehebEeteeeeethebsebeeteseeeeee

Dear IssueAlert Subscriber,

I would like to take a moment to describe our energy information products
so that you will know which products are free (like IssueAlert), which
products you can buy by the slice on our web site and which products carry
4 subscription fee.

SCIENTECH sends IssueAlert to you for free every business day as a courtesy
because you are involved in or interested in the energy industry. IssueAlerts
are stored in a free database on our site at:

http: //wew.conasultrei.com/web/infostore.naf/Products/IsaueAlert

We also post IssuesWatch every Monday at:

http://www. consultrei.com/web/infostore.naf/Products/IssuesWatch

This column encapsulates the news of the past week and is also a free service.
Past IssuesWatches are also available for free.

PowerHitters articles are posted every other week. PowerHitters, the movers
and shakers of the energy industry, are interviewed by our analysts. All
the interviews of the past six months are available. They can be purchased
by the slice in our InfoStore with your VISA or Mastercard, or you can
phone, toll-free, at 888-972-8676,

SourceBook Weekly is the electric industry"s premier journal of issues


From: Wilcox, David

Sent: Thursday, February 21, 2002 12:52 AM

To: SearchCameo
CAMEO Recon found a word: Enron sent by Wilcox, David to Wilcox, David; Sachs, Lee;
‘Soares, Chris; ‘Martha Altamar’, ‘alexm@calpine, com’, macias@calpine,com’ ‘jason_s.
_Seligman@cea.eop.gov’; ‘shg@cpuc.ca gov’; Greene, Michelle; Squitieri, Ray; Stokes,

[OUTSIDE SCOPE]

This message was found to have a Critical Word in it. Message
Sent to Wilcox, David; Sachs, Lee; Soares, Chris; ‘Martha Altamar'; ‘alexm@calpine.com';
‘ymacias@calpine.com'; ‘jason. ligmanécea.eop.gov'; ‘shg@cpuc.ca.gov'; Greene,
Michelle; Squitiers, Ray? Stokes, Veronica; ‘eisenstatl@DSMO.com'; 'sbvanleer@duke~
energy.com'; ‘joel.newton@dynegy.com'; ‘lynn. lednicky@dynegy.com’; ‘smara@enron.com';
‘Linda Lee’; 'dan.poffenberger@ferc.ged.gov'; ‘pmohler@hewm.com';
‘richard.glick@hq.doe.gov'; ‘smutany@iepa.com'; 'karen.tomcala@pge-corp.com'; ‘cxg2
@pge.com'; "DxH4@pge.com'; ‘AMK4@pge.com’; 'joebob-perkins@reliantenergy.com';
‘marvin_k_ballard@reliantenergy.com"; 'KMcCrea@sablaw.com’; ‘fieldejr@sce.com';
‘harold, ray@sce.com'; ‘dreed@sdge.com'; "wsakaria@sdge.com'; ‘rahayes@seiworldwide.com';
‘sjcapoma@seiworldwide.com'; ‘mtierney@sempra.com'; "sonnet.edmonds@southernenergy.com';
‘cread@steptoe.com’ : "tenorelandisuidlaw. com's *julie.greenisenttroutmansanders.com')
‘alex.goldberg@williams. oom! , ((b)(6)] "y , Adminy ‘ronald _minsk@opd. 1 Cop. -gov";
‘jmdonnell@duke-energy.com'; ‘h podewer@duke-energy. com’ i 'bbailey@duke-energy.com'
‘nideschanefduke-energy.com'; "wfhall@duke-energy.com'; ‘sbvanleer@duke-energy.com'; ‘rmk4
Qpge.com'; "ddrQ@pge.com'; ‘rip2@pge.com’; 'starckle@sce.com'; 'john.gammie@williams.com':
‘reharris@seiworldwide.com'; 'smfuller@seiworldwide.com'; 'dilmiller@seiworldwide.com';
‘jwholden@seiworldwide.com'; ‘richard.shapiro@enron.com'; ‘robert.badeer@enron.com', From
Wilcox, David, CC to Barbour, Gaylen; ‘Curtis Wagner’, Date 1/12/2001 5:51:26 PM, Subject
of message RE: California Energy Group e-mail TEST MESSAGE

Word(s) found: Enron

woooe Original Message----~-

From: Wilcox, David

Sent: 1/12/2001 5:51:26 PM

Received: 1/12/2001 5:51:26 PM

To: Wilcox, David, EX:/O=USTREASURY/OU#DO/CN=RECIPIENTS/CN=WILCOXD
Sachs, Lee, EX: /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=Sachst
Soares, Chris, EX:/O-USTREASURY/OU=D0/CN=RECI PIENTS/CN=SOARESC
"Martha Altamar', SMTP:martha.altamar@ferc. fed.us
*alexm@calpine.com', SMTF:alexm@calpine.com
*4maciasBcalpine.com', SMTP:4imacias@calpine.com
*jason_s, seligman@cea.eop.gov', SMTP:jason_s. seligmanécea.eop.gov
*shg@cpuc.ca.gov', SMTP: shg@cpuc.ca.gov
Greene, Michelle, EX: /O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=GREENEMI
Squitieri, Ray, EX: /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN*SQUITIERIR
Stokes, Veronica, EX: /O=USTREASURY/OU=DO/CN*RECIPIENTS/CN=STOKESV
*elsenstatl@DSMO.com', SMTP:eisenstatl@DSMO. com
"sbvanleerGduke-energy.com'’, SMTP: sbvanleer@duke-energy.com
"Joel. newton@dynegy.com', SMTP: joel. newton@dynegy. com
"lynn. lednicky@dynegy.com', SMTP:lynn.lednicky@dynegy.com
*smarafenron.com', SMTPismarafenron.com
"Linda Lee’, SMTP: linda. lee@ferc. fed.us
“dan. poffenberger@ferc.ged.gov', SMTP:dan.poffenberger8ferc.ged.gov
*pmohler@hewm.com', SMTP:pmohler@hewm.com
*richard.glick@hq.doe.gov', SMT?:richard.glick#hq.doe.gov
“smutany@iepa,com’, SMTP: smutany@iepa.com
"karen, tomcala@pge-corp.com', SHTP:karen.tomcala@pge-corp.com
‘oxg2@pge.com'’, SMTP:cxg2@pge.com
"DxH4@pge.com’, SMTP: DxH4@pge.com



((b)(5)]


exg2@pge.com; DxH4Gpge.comy RMK4@pge.coms joebob-perkins@reliantenergy.coms
marvin_k _ballard@reliantenergy.coms KMcCrea@sablaw.com; fieldejrésce.com:

harold. e,com; dreed@sdge.com; wsakaria@sdge.com; rahayes@seiworldwide.com:
sj}capoma@seiworldwide.com; mtierney@sempra.com; sonnet .edmonds@southernenergy.com:
cread@steptoe.com: temoreland@swidlaw.com: julie.greenisen@troutmansanders.com:
alex. goldberg@williams.com: [(b)(6 + ADMING@do. treas. gov;

ronald minsk@opd,eop.gov; jmdonnelléduke-energy.com; hjpodewer@duke-energy. com;
bhailey@duke-energy.com; njdeschane@duke-energy.com; wfhall@duke-energy.com;
sbvanleer@duke-energy.com; rmk4@pge.com; ddr0@pge.com; rjp2@pge.com: starckle@sce.com;
john. gammie@wiliiams.com; reharri iworldwide.com; smfulleréseiworldwide.com?
dlmiller@seiworldwide.com; jwholden@seiworldwide.com; richard.shapiro8enron.com;
robert .badeer@enron. com

Cc: Gaylen.Barbour@do.treas.govs curtis.wagner@ferc. fed.us
Sent: 1/12/01 2:51 PM
Subject: RE: California Energy Group e-mail TEST MESSAGE

<<Final ptl.doc>> <<Final pt2.doc>>

Message auditing by MicroData CAMEO Recon


From: Squitieri, Ray
Sent: Thursday, February 21, 2002 12:19 AM
To: SearchCameo

CAMEO Recon found a word: Enron sent by Wilcox, David to Elmendorf, Douglas; Squitieri,
Ray; Flanagan, Rosemary; Chryst, Nancy on 12/14/2000 11:16:04 PM

This message waa found to have a Critical Word in it. Message Sent to Elmendorf, Douglas;
Squitieri, Ray; Flanagan, Rosemary; Chryset, Nancy, From Wilcox, David, CC te, Date

tsbref.doc
12/14/2000 11:16:04 2M, Subject of messa ge RE: california electricity

Word(s) found: Enron

pa “Original Message

From: Wilcox, David

Sent: 12/14/2000 11:16:04 PM

Received: 12/14/2000 11:16:04 PM

To: Elmendorf, Douglas, EX: /O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=ELMENDORFD
Squitieri, Ray, EX: /O*USTREASURY/OU=DO/CN=RECIPIENTS/CN=SQUITIERIR
Flanagan, Rosemary, EX: /O=USTREASURY/OU*DO/CN@RECI PIENTS/CK*FLANAGANR
Chryst, Nancy, EX:/O*USTREASURY/OU*DO/CN*RECIPIENTS/CH*CHRYSTN

cc:

Subject: RE: california electricity

Body:

This is a really super effort, and illustrates the value, Ray, of your having kept an eye
on current developments in the energy field. Thanks to Doug for a wonderful editing job.
Please transmit to Larry ASAP.

Seetahetes Original Message-----

From: Elmendorf, Douglas

Sent: Thursday, December 14, 2000 6:11 PH
To: Wilcox, David

Subject: california electricity

I've cleaned up Ray's memo a little (based in part on your previous comments and on the
phone conversation with the ENRON guy}, but you should look it over. Ray should also
review it in the morning to be sure that I didn’t introduce any factual errors.

btw, Jon Talisman says that the CPI change will be in the tax bill that is about to be
passed.

<< File: Isbrief.doc >>
Sea saa End of message body

Message auditing by MicroData CAMEO Recon


cut to the bone. The stocks of Dynegy, Enron Corp. (ENE), etc., have high
price-to-earnings ratios because their earnings are expected to continue strong
growth under electric deregulation. They are the emerging masters of a
deregulated universe, but if deregulation were to throw PG6E and Edison into
bankruptcy court, there wouldn't be any deregulated electric universe to master.

As one electricity trader put it: "They have got to get a deal done. If they
don't get ‘The California Energy Crisis' off of CNBC every 30 minutes, I'm going
to be out of a job.”

Generators' stock prices have been getting hammered since the first of the
year due to several factors, such as profit-taking after a great 2000, according
to Credit Suisse First Boston utility analyst Paul Patterson. Duke's stock has
fallen to $66 from $85 since Dec. 2%, for example.

Prices of generator stocks have come down hard, in part, because a California
catastrophe would derail deregulation in many states and the forecasts for
generators’ earnings growth would be questioned, according to Solomon Smith
Barney analyst Ray Niles.

That's the finances. The physical reality is that the western U.S. probably
won't have enough electricity to meet demand for the rest of this year. Starting
in February, if a deal is done, California utilities won't be the last in line
to get their power, and the threat of blackouts will be spread out across the
West.

Other than that, where's the rub? Under deregulation, consumers were supposed
to get market rates in 2002. Based on the current forward market and the
utilities’ cost of retained generators, 7 cents/kwh for the rest of this year is
a great deal. For 2002, it’s fair, but for 2003-2008, it's terrible. The current
purchase price for those years is about 5 cents. With utility-owned generation
at 3 cents, consumers will be paying 7 cents/kwh when they should be paying 4
cents/kwh.

And the 2.4 cents/kwh competition transition charge (CTC) that was supposed to
end in 2002 has to be extended several more years. The CTC is “non-bypassable,”
which means if you leave the local monopoly for an alternative supplier, you
still have te send a couple of cents/kwh to the old utility,

Ratepayer groups got about 40 people to storm the PGsE corporate headquarters
this week over the one cent rate increase. Another rate increase would cause
riots and ballot initiatives, and cost Davis his job.

But can consumer groups get people out in the streets over a deal that's great
how, but overcharges them starting in 2003? I doubt it.

Businesses such as Intel Corp, (INTC) will know they are getting the short end
of the stick financially and that power in the western U.S. is still unreliable,
so they will decide to build new factories in other states. That's how you
bypass non-bypassable charges. It will be bad for the state's economic growth,
but California needs to stop adding electricity demand.

The stars are aligned for a deal very scon: eight days left before the
executive branch of the U.S. government changes from one that wants to help
Davis to one that wants to hurt him; about the same amount of time is left
before the utilities run out of cash; forward power prices have come down a lot
in the past 30 days, but could easily start to rise again; merchant power

yy stock prices have been punished for two weeks, and their executives
don't want to kill the golden goose.

How can they not get this done?

~By Mark Golden, Dow Jones Newswires; 201-938-4604; mark.golden@dowjones.com


ccs

"RMK4@pge.com', SMTP:RMK4@pge.com

*joebob-perkins' liantenergy.com', SMTP: joebob-perkins@reliantenergy.com
*marvin_k_ballar ntenergy.com', SMTP:marvin_k_ballard@reliantenergy.com
"WHcCrea@sablaw.com', SMTP: KMcCrea@sablaw.com

"fieldejrésce.com’, SMTP: fieldejr@sce.com

“harold. cay@sce,com', SMTP:harold. cay@sce.com

"dreed@sdge.com', SMTP:dreed@sdge.com

*weakaria@sdge.com', SMTP:wsakaria@sdge.com

*rahayes@seivorldwide.com', SMTP: rahayes@seiworldwide.com
"sj}capoma@selworldwide.com', SMTP:sjcapoma@seiworldwide.com
"mtierney@sempra.com', SMTP:mtierney@sexpra.com
*sonnet.edmonds@southernenergy.com', SMTP:sonnet.edmonds@southernenergy. com
"cread@steptae.com', SMTP: creadSsteptoe.com

*temoreland@swidlaw.com', SMTP: temorelandfswidlaw.com
*julie.greenisen@troutmansanders.com', SMIP:julie.greenisen@troutmansanders.com
*alex.goldberg@williams,com', SMTP:alex.goldberg@williams.com

*{(b)(6)

“{(O\(6)] EX: /O=USTREASURY/OU=DO/CN=RECI PIENTS/CN=Groupwise/cn=Treasury.DOPO.ADMIN
‘ronald_minsk@opd.eop.gov', SMTP: ronald_minsk@opd.eop.gov

*4mdonnell Gduke-energy.com', SMTP: jmdonnell@duke-energy.com
"hjpodewerfduke-energy.com', SMTP: hjpodewer@duke-energy.com
*bbailey@duke-energy.com’, SMTP:bbailey@duke-energy.com
*njdeschane@duke-energy.com', SHTP:njdeschane@duke-energy.com
“wihall@duke-energy.com', SMTP: wfhall@duke-energy.com
*abvanleer@duke-energy.com', SMTP: sbvanleer@duke-energy.com

"rmk4@pge.com', SMTP: rmk4@pge.com

"ddrO08pge.com', SMTP:ddr08pge.com

"r}p2@pge.com', SMTP: rjp28pge.com

“starckle@sce.com', SMTP:starckle@sce.com

*John.gammie@williams.com', SMTP: john.gammie@williams.com
*reharris@seiworldwide.com', SMTP: reharris@seiworldwide.com

jeiworldwide.com',
"dimiller@seiworldwide.com', SMTP:dlmiller@seiworldwide.com
*jwholden@seiworldwide.com', SMTP: jwholden@seiworldwide.com
*richard.shapiro@enron.com’, SMTP: richard.shapiro#fenron.com
‘robert.badeerfenron.com', SMI'P:robert.badeer@enron.com

Barbour, Gaylen, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=BARBOURG
"Curtis Wagner’, SMTP: curtis.wagner€ferc. fed.us

Subject: RE: California Energy Group e-mail TEST MESSAGE

Body:

End of message body

Message auditing by MicroData CAMEO Recon


From: Wilcox, David

Sent: Thursday, February 21, 2002 12:52 AM

To: SearchCameo

Subject: CAMEO Recon found a word: Enron sent by Wilcox, David to Soares, Chris on 1/15/2001
12:08:44 AM

This message waa found to have a Critical Word in it. Message Sent to Soares, Chris, From
Wilcox, David, CC to , Date 1/15/2001 12:08:44 AM, Subject of message FW: California
Energy Group e-mail

Word(s} found: Enron

From: Wilcox, David

Sent: 1/15/2001 12:08:44 AM

Received: 1/15/2001 12:08:44 AM

To: Soares, Chris, EX:/O=USTREASURY/OU=DO0/CN=RECIPIENTS/CN=SOARESC

ce:
Subject: Fu: Califernia Energy Group e-mail
Body:

From: Martha Altamar [mailto:martha.altamar@ferc. fed.us]

Sent: Friday, January 12, 2001 9:28 AM

To: alexm@calpine.com; jmacias@calpine.com; jason_s._seligmanfcea.eop.gov;
shg@cpuc.ca.gov; Chris.Scares@do.tre: gov; David.Wilcox@do.treas.gov;
Lee.Sachs@do.treas.govs Michelle.Greene@do.treas.gov; Ray.Squitieri@do.treas.gov;
Veronica.Stokes@do.treas.gov; eisenstatl@DSMO.com; sbvanleer@duke-energy.com;
joel.newtonfdynegy.com; lynn.lednicky§dynegy.com; smara@enron.com; Linda Lee;
dan.poffenberger$ferc,ged.us.treas.gov; pmohler@hewm.com; richard.glick@hq.doe.gov;
smutany@iepa.com; karen.tomcala@pge-corp.com: cxg2@pge.com: DxH4@pge.coms RMK4@pge. com:
joebob-perkins@reliantenergy.com; marvin_k ballard@reliantenergy.com: KMcCrea@sablaw. com:
fieldejr@sce.com; harold, ray@sce.com; dreed@sdge.com; wsakaria@sdge,com:
rahayes@seiworldwide.com; sjcapoma@seiworldwide.com; mtierney@sempra.com:
sonnet.edmonds@southernenergy.com: cread@steptoe.com: temoreland@swidlaw.com:

julie. greenisen@troutmansanders,com: goldberg@williams.com: {(b)(6)}

Ce: Gaylen.Barbour@do.treas.gov; Curtis Wagner

Subject: RE: California Energy Group e-mail

Please add Chief Judge Wagner's name to the mailing list. His E-mail addres
curtis.wagner@ferc.fed.us Thanks.

Martha

>>> Linda Lee 01/12/01 08:55AM >>>
The requested address is: daniel.poffenberger@ferc.fed.us Thanks

>>> < Michelle.Greeneldo.treas.gov > 01/12/01 08:45AM >>>

please use reply all to this message when sending items to the group (more
corrected addresses have been added}.

thanks.

Original Message----~

Greene, Michelle

Sent:Thursday, January 11, 2001 $:16 PM

To:Greene, Michelle; Stokes, Veronica; ' alex.goldberg@williams.com’ ;
‘Alex Makler'; "Charles C. Read'; ‘Claudia Greif’; ‘Curtis Wagner Jr.";

' dan.poffenberger@ferc.ged.us’ ; Wilcox, David; ‘Debra Reed’; ‘Dede
Mapner'; ‘Harold 8. Ray"; "James Macias'; ‘Jan Smutney Jones’;

' jason_s. seligman@cea.eop.gov’ 7 ‘Joe Bob Perkins'; ‘Joel Newton’; ‘John

vv¥vVV VV


McGivern, Tom,

EX: /O=USTREASURY/OU=D0/CN=RECIPIENTS /CN=GROUPWISE/CN=DOM3, DOPOG .MCGIVERNT
McHale, Stephen,

EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3. DOPOG .MCHALES
McInerney, Roberta,

EX: /O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GROUPWISE/CN=DOM3 . DOPO6 .MCINERNEYR
Sachs, Lee, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=GROUPWISE/CN=DOM3. DOPO6. SACHSL
Wolin, Neal, EX:/O=USTREASURY/OQU=DO/CN@RECIPIENTS/CN=GROUPWISE/CN=DOM3. DOPOS, WOLINN
ex.mail.JONESM, GWISE:ex.mail.JONESM
ex.mail.VJORSTAD, GWISE:ex.mail.VJORSTAD
Adashek, Jonathan, EX: /O-USTREASURY/CU*DO/CN*RECIPIENTS/CN*ADASHEKI
Affleck-Smith, Joan, EX: /O*USTREASURY/OU*DO/CN*RECIPIENTS/CN*AFFLECK-SMITH
Baer, Gregory, EX: /O-USTREASURY/OU*DO/CN*RECI PIENTS/CN*BAERG
Barr, Michael, EX: /O=USTREASURY/OU*DO/CN*RECIPIENTS/CN@BARRM
Bell, Rochelle, EX: /O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=BELLA
Beresik, Michael, EX: /O=USTREASURY/OU=DO/CNeRECIPIENTS/CN=BERESIXM
Bresee, Elisabeth, EX:/O=USTREASURY/CU=DO/CN=RECI PIENTS/CN=BRESEEE
DeMarco, Edward, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=DEMARCOE
Foote, Norman, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=FOOTEN
Gensler, Gary, EX:/O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=GENSLERG
Johnson, James, EX: /O=USTREASURY/OU=D0/CH=RECIPIENTS/CN=JOHNSONJE
Lebryk, David, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=LEBRYKD
Ross, Lisa, EX: /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=ROSSL

cc:

Subject: Thanks
Body:

[OUTSIDE SCOPE]

T will be starting work next Monday at Enron. When I have my new telephone
number, E-mail, and mailing info, I will have Janet forward it to you. In the
meantime, my home telephone number 1s ((b)(6) + Again, thank you very
much for being a part of my professional life.

- End of message body

Message auditing by MicroData CAMEO Recon


From: Constantine, Eleni
Sent: Wednesday, February 20, 2002 8:20 PM
To:

SearchCameo

CAMEO Recon found a word: Enron sent by Carleton, Norman to Hammond, Donald;
DeMarco, Edward; Ellis, Dina; Huffman, Lucy, Mcinemey, Roberta; Constantine, Eleni;
Hughes, Gerry; Stewart, Lawranine on 2/15/2001 10:06:41 AM

This message was found to have a Critical Word in it. Message Sent to Hammond, Donald;
DeMarco, Edward; Ellis, Dina; Huffman, Lucy: McInerney, Roberta; Constantine, Eleni:
Hughes, Gerry; Stewart, Lawranne, Prom Carleton, Norman, CC to Tishuk, Brian; Robbins,
Eric; Paulus, Michael; Sutton, Gary) Huffman, Lucy: McGivern, Tom; Nickoloff, Peter;
Schultheiss, Heidilynne;: Gross, Jared, Date 2/15/2001 10:06:41 AM, Subject of message RE:
Bankruptcy Reform Mark-up Rearing

Word(s) found: Enron

sonen Original Message-----

From: Carleton, Norman

Sent: 2/15/2001 10:06:41 AM

Received: 2/15/2001 10:06:41 AM

To: Hammond, Donald, EX: /O=USTREASURY/OUsDO/CN«RECIPIENTS/CN*HAMMONDD
DeMarco, Edward, EX: /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=DEMARCOE
Ellis, Dina, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CNeEllisD
Huffman, Lucy, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=HUFEMANL
McInerney, Roberta, EX:/O=-USTREASURY/OU=D0/CN=RECI PIENTS/CN=MCINERNEYR
Constantine, Eleni, EX:/O=USTREASURY/OU=D0/CN=RECIPIENTS/CH=CONSTANTINEE
Hughes, Gerry, EX:/O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=HUGHESG
Stewart, Lawranne, EX: /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=STEWARTLAW

cc: Tishuk, Brian, EX:/O=-USTREASURY/OU=D0/CN=RECIPIENTS/CN=TISHUKB
Rebbins, Eric, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=ROBBINSE
Paulus, Michael, EX:/O=USTREASURY/OU*DO/CN#RECIPIENTS/CN#PaulusM
Sutton, Gary, EX: /O*USTREASURY/OU#DO/CN*RECIPIENTS/CN*SuttonG
Huffman, Lucy, EX: /O-USTREASURY/OU+DO/CN+RECIPIENTS/CN+HUPEMANL
MeGivern, Tom, EX: /O=USTREASURY/OU#DO/CN*RECIPIENTS/CN*MCGIVERNT
Nickoloff, Peter, EX: /O-USTREASURY/OU*DO/CN*RECIPIENTS/CN=NICKOLOFFP
Schultheiss, Heidilynne, EX: /O-USTREASURY/OU*DO/CN+RECIPIENTS/CHeSchultheissh
Gross, Jared, EX: /OsUSTREASURY/OU@DO/CN*RECIPIENTS/CNeGrossJa

Subject: RE: Bankruptcy Reform Mark-up Hearing

Body:
Don,

{(b)(5)]


{(b)(5)]


From: Wilcox, David

Sent: Thursday, February 21, 2002 12:48 AM
To: SearchCameo
Subject: CAMEO Recon found a word: Enron sent by Tierney, Michael C. to

‘David Wilcox@do.treas, gov *; ‘Lee Sachs@Qdo treas gov *; ‘Chris. Soares@do treas. gov *;
‘martha altamar@fere. fed.us *, ‘alexm@calpine.com *; 'jmacias@calpine.com *; jason_s.
Seligman @c4a,eop.g

This message was found to have a Critical Word in it. Message Sent to
‘*David.Wilcox@do.treas.gov '; ‘Lee.Sachs@do.treas.gov '; 'Chris.Soares@do.treas.gov ';
‘martha, altamar@ferc.fed.us "; 'alexm@calpine.com '; 'jmacias@calpine.com '; 'jason_s.
_Seligman@cea.cop.gov '; ‘shg@cpuc.ca.gov '; 'Michelle.Greene@do.treas.gov "7

‘Ray. Squitieri@do.treas.gov "s; 'Veronica.Stokes@do.treas.gov "; ‘elsenstatl@DSMO.com ';
‘sbvanleer@duke-energy.com '; ‘joel.newtonfdynegy.com '; "lynn. lednicky@dynegy.com ‘;
‘smara@enron.com '; ‘linda.lee@ferc.fed.us '; 'dan.poffenberger@ferc.ged.gov.treas.gov ';
‘pmohlerGhewm.com "; 'richard.glick@hq.doe.gow "; 'smutany@iepa.com '; ‘karen. tomcala@pge-
corp.com '3 'cxg2@pge.com '; 'DxH4@pge.com '; ‘RMK4@pge.com '; ‘joebob-
perkins@reliantenergy.com '; ‘marvin_k_ballard@reliantenergy.com ': 'KMcCrea@sablaw.com ‘7
‘fieldejrésce.com '; 'harold.ray@sce,com '; Reed, Debra L.; Sakarias, Wayne P.7
‘rahayes@seiworldwide.com '; 'sjcapoma@seiworldwide.com '; Tierney, Michael C.?
‘sonnet.edmonds@southernenergy.com *; 'cread@steptoe.com '; 'temoreland@swidlaw.com ';
‘julie, green. *; ‘alex.goldberg@williams.com ':

‘To 6) +gov '; ‘ronald minsk@opd.eop.gov ';

be mnell@duke-energy.com '; "hjpodewer@duke-energy.com '; 'bbailey@duke-energy.com ';
‘njdeschane@duke-energy.com '; 'wfhall@duke-energy,com '; ‘sbvanleer@duke-energy.com ‘;
‘rmk4@pge.com '; ‘ddr0@pge.com '; ‘rjp2@pge.com '; ‘starckle@sce.com ';
‘john.gammie@williams,com '; 'reharris@seiworldwide.com '; ‘smfuller@seiworldwide.com ';
‘dimiller@seiworldwide.com '; 'jwholden@seiworldwide.com '; 'richard.shapiro@enron.com ';
‘robert. badeer@enron.com ", From Tierney, Michael C., CC to 'Gaylen.Barbour@do.treas.gov
‘; ‘curtis.wagner@ferc.fed.us ", Date 1/13/2001 2:06:43 PM, Subject of message RE:
California Energy Group e-mail TEST MESSAGE

Word(s) found: Enron

From: Tierney, Mich: c.

Sent: 1/13/2001 2:06:43 FN

Received: 1/13/2001 2:04:20 PM

To: "David. Wilcox@do.treas.gov ', SHTP:David.Wilcox@do.treas.gov
*Lee.Sachs@do.treas.gov ', SMTP:Lee.Sachs@do,treas.gov
‘Chris. Soares@do.treas.gov ', SMTP:Chris.Soares@do.treas.gov
‘martha.altamar@ferc.fed.us ', SMTP:martha.altamar@ferc. fed.us
“alexm@calpine.com ', SMTP:alexm@calpine.com
"}macias@calpine.com ', SMTP: jmacias@calpine,com
"jason_s._seligman@cea.eop.gov ', SMT! jon_S._seligman@cea.eop.gov
*shg@cpuc.ca.gov ', SMTP:ahg@cpuc.ca.gov
*"Michelle.Greene@do.treas.gov ', SMTP:Michelle.Greenefido.treas.gov
"Ray. Squitieri@do.treas.gov ‘, SMTP:Ray.Squitieri@do.treas.gov
"Veronica. Stokes@do.treas.gov ', SMTP:Veronica.Stokes@do.treas.gov
*eisenstatl@DSMO.com ', SMTP:eisenstatl@DSMO.com
*sbvanleerfduke-energy.com ', SMTP: sbvanleer@duke-energy.com
"joel.newton@dynegy.com *, SMTP: joel.newton@dynegy. com
"lynn. lednicky@dynegy.com *, SMTP:lynn.lednicky@dynegy.com
‘smara@enron.com ', SMTP:smara@enron,com
‘linda, lee@ferc,fed.us ', SMTP: linda, lee@ferc. fed.us
‘dan. poffenberger@ferc.ged.gov.treas.gov ',

SMTP: dan.poffenberger@ferc. ged. gov. tre
‘pmohler@hewm.com ', SMTP:pmo!
*richard.glick@hq.doe.gov *, SMTP:richard.glick@hq.doe.gov
*smutany@iepa.com ', SMTP:smutany@Lepa.com
"karen.tomcala@pge-corp.com ', SMTP:karen.tomcala@pge-corp.com
"exg2@pge.com ', SMTP: cxg2@pge.com



From: Squitieri, Ray

Sent: Thursday, February 21, 2002 12:19 AM

To: SearchCameo
CAMEO Recon found a word: Enron sent by Wilcox, David to Wilcox, David; Sachs, Lee;
‘Soares, Chris; ‘Martha Altamar’, ‘alexm@calpine, com’, macias@calpine,com’ ‘jason_s.
_Seligman@cea.eop.gov’; ‘shg@cpuc.ca gov’; Greene, Michelle; Squitieri, Ray; Stokes,

Final pel.doc Final p2.doc

This message was found to have a Critical Word in it. Message
Sent to Wilcox, David; Sachs, Lee; Soares, Chris; ‘Martha Altamar'; ‘alexm@calpine.com';
‘ymacias@calpine.com'; ‘jason. ligmanécea.eop.gov'; ‘shg@cpuc.ca.gov'; Greene,
Michelle; Squitiers, Ray? Stokes, Veronica; ‘eisenstatl@DSMO.com'; 'sbvanleer@duke~
energy.com'; ‘joel.newton@dynegy.com'; ‘lynn. lednicky@dynegy.com’; ‘smara@enron.com';
‘Linda Lee’; 'dan.poffenberger@ferc.ged.gov'; ‘pmohler@hewm.com';
‘richard.glick@hq.doe.gov'; ‘smutany@iepa.com'; 'karen.tomcala@pge-corp.com'; ‘cxg2
@pge.com'; "DxH4@pge.com'; ‘AMK4@pge.com’; 'joebob-perkins@reliantenergy.com';
‘marvin_k_ballard@reliantenergy.com"; 'KMcCrea@sablaw.com’; ‘fieldejr@sce.com';
‘harold, ray@sce.com'; ‘dreed@sdge.com'; "wsakaria@sdge.com'; ‘rahayes@seiworldwide.com';
‘sjcapoma@seiworldwide.com'; ‘mtierney@sempra.com'; "sonnet.edmonds@southernenergy.com';
‘cxead@steptoe. com’; wsrcon's ONO *julie.greenisenttroutmansanders.com')
‘alex.goldberg@williams. com' , (b)(6)] ‘y , Adming ‘ronald minsk@opd. +e0p. +gov's
‘jmdonnell@duke-energy.com'; ‘h wer@duke-energy. com’ i 'bbailey@duke-energy.com'
‘nideschanefduke-energy.com'; "wfhall@duke-energy.com'; ‘sbvanleer@duke-energy.com'; ‘rmk4
Qpge.com'; "ddrQ@pge.com'; ‘rip2@pge.com’; 'starckle@sce.com'; 'john.gammie@williams.com':
‘reharris@seiworldwide.com'; 'smfuller@seiworldwide.com'; 'dilmiller@seiworldwide.com';
‘jwholden@seiworldwide.com'; ‘richard.shapiro@enron.com'; ‘robert.badeer@enron.com', From
Wilcox, David, CC to Barbour, Gaylen; ‘Curtis Wagner’, Date 1/12/2001 5:51:26 PM, Subject
of message RE: California Energy Group e-mail TEST MESSAGE

Word(s) found: Enron

woooe Original Message----~-

From: Wilcox, David

Sent: 1/12/2001 5:51:26 PM

Received: 1/12/2001 5:51:26 PM

To: Wilcox, David, EX:/O=USTREASURY/OU#DO/CN=RECIPIENTS/CN=WILCOXD
Sachs, Lee, EX: /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=Sachst
Soares, Chris, EX:/O-USTREASURY/OU=D0/CN=RECI PIENTS/CN=SOARESC
"Martha Altamar', SMTP:martha.altamar@ferc. fed.us
*alexm@calpine.com', SMTF:alexm@calpine.com
*4maciasBcalpine.com', SMTP:4imacias@calpine.com
*jason_s, seligman@cea.eop.gov', SMTP:jason_s. seligmanécea.eop.gov
*shg@cpuc.ca.gov', SMTP: shg@cpuc.ca.gov
Greene, Michelle, EX: /O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=GREENEMI
Squitieri, Ray, EX: /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN*SQUITIERIR
Stokes, Veronica, EX: /O=USTREASURY/OU=DO/CN*RECIPIENTS/CN=STOKESV
*elsenstatl@DSMO.com', SMTP:eisenstatl@DSMO. com
"sbvanleerGduke-energy.com'’, SMTP: sbvanleer@duke-energy.com
"Joel. newton@dynegy.com', SMTP: joel. newton@dynegy. com
"lynn. lednicky@dynegy.com', SMTP:lynn.lednicky@dynegy.com
*smarafenron.com', SMTPismarafenron.com
"Linda Lee’, SMTP: linda. lee@ferc. fed.us
“dan. poffenberger@ferc.ged.gov', SMTP:dan.poffenberger8ferc.ged.gov
*pmohler@hewm.com', SMTP:pmohler@hewm.com
*richard.glick@hq.doe.gov', SMT?:richard.glick#hq.doe.gov
“smutany@iepa,com’, SMTP: smutany@iepa.com
"karen, tomcala@pge-corp.com', SHTP:karen.tomcala@pge-corp.com
‘oxg2@pge.com'’, SMTP:cxg2@pge.com
"DxH4@pge.com’, SMTP: DxH4@pge.com



$7.5 billion in bonds financing consumers’ own rate reduction.

Now a new tab is cunning -- whatever share of the $11 billion in debt
that state utility regulators decide customers should pay.

The state's leaders are now casting around desperately for solutions to
put Humpty Dumpty back together again.

The FERC is encouraging the utilities to enter long-term contracts with
suppliers, and market clearing pricing is under review. The state's
utilities commission will decide Jan. 4 how much of a rate increase to
grant to PG&E and Edison. And a dozen or so power plants are under
construction,

Meanwhile, consumer advocates are backing a
would not only re-requlate utilities but essentially make enercy supply a

>

>

>

>

>

>

>

>

>

>

> ate ballot measure that
>
> government function, And they are challenging the utilities" efforts to
>
>
>
>
>
>
>
>
>
*
>
?
>

pass on their debts to consumers, noting they have also reaped windfall
profits from selling electricity.

For example, in the quarter covering the summer months when power costs
first went haywire, PGSE'’s profits amounted to $225 million, a 22 percent
incre. over the same period in the previous year.

In the short term, the state is considering ways to encourage energy
conservation the same way it did with water. And the question now being
asked is whether a commodity as central to the well-being of the economy
should ever have been placed almost entirely under the control of free
enterprise,

“There's a discussion on how much we want to rely on market forces
alone when it comes to electricity,” Bowen said. “De we want to subject
ourselves to times when rates are really low and really high?"

> POWER DEREGULATION CHRONOLOGY --

“April 1994: California Public UtilitiesCommission indicates it favors deregulation.
“October 1995: Pramework of deregulation laid out in memorandums between large users,
energy providers and utilities. --

-January 1996: Billa introduced in legislature to codify

deregulation plan. --

~August 1996: The “Steve Peace death march” hashes out fine points of law. It passes both
houses unanimously. --

“Sept. 23, 1996: Gov. Pete Wilson signs the deregulation bill. --

~April 1, 1998: After a four-month delay, deregulation begins. -~

June 2000: San Diego has satisfied conditions for deregulation, and the rate cap there is
lifted. Shorta: drive prices up 300 percent in some cases. --

“September 2000: The utilities begin to warn of billions in mounting debt and seek an end
to the rate cap that has prevented them from passing costs on to customers. --

“November, December 2000: More shortages put energy system in state of perpetual crisis,
despite fall being a season of traditional low demand; state regulators consider
utilities’ requests for rate increases. A decision is expected Jan. 4.

> ~ PLAYERS IN THE DEREGULATION DRAMA --

-Steve Peace:

> Took control of the legislative process while a state senator and drove
> deregulation into law. --

-D.J, Smith:

> Lobbyist for large, industrial electricity customers and an early
advocate of deregulation, --

~Diane th!
> As state senator, helped with the deregulation legislation, --

~Greg Conlan:

> Sympathetic to industrial consumers with high bills while serving on
the California Public Utilities Commission. ~~

=Pete Wilson:

> Saw deregulation as an answer to California's then-ailing economy. --
-Kenneth Lay:

> Noted in 1997, as chief executive of Enron Corp. in Houston, that
little competition had emerged. “It's like California announced a party but
nobody"s showing up,” he said. --

-Gordon Smith:

> As chief executive of PG&E, supported deregulation, at one point noting



From: Constantine, Eleni
Sent: Wednesday, February 20, 2002 7:06 PM

SearchCameo
CAMEO Recon found a word: Enron, Jeff Skilling sent by Constantine, Eleni to Paulus,
Michael; Mcinemey, Roberta on 3/16/2001 1:47:33 PM

This message was found to have a Critical Word in it. Message Sent to Paulus, Michael;
McInerney, Roberta, From Constantine, Eleni, CC to , Date 3/16/2001 1:47:33 PM, Subject of
message RE: Enron Meeting Request

Word(s) found: Enron, Jeff Skilling

From: Constantine, Eleni

Sent: 3/16/2001 1:47:33 PM

Received: 3/16/2001 1:47:33 PM

To: Paulus, Michael, EX: /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=PaulusM
McInerney, Roberta, EX:/O=USTREASURY/OU=D0/CN=RECI PIENTS/CN=NCINERNEYR

ccs

Subject: RE: Enron Meeting Request

Body:

Michael, Ken Schmalzbach has asked for more information on how this requests came in and
what the purpose of the meeting is. I'm at 2-1934 if you want to just give me a call. thx

anaee Original Message~----

From: Paulus, Michael

Sent: Thureday, March 15, 2001 6:02 PM

To: McInerney, Roberta; Constantine, Eleni
Subject: Fa: Enron Meeting Request

Please see below. Any thoughts?

~~---Original Message-----

From: Ellis, Dina

Sent; Thursday, March 15, 2001 5:59 PM

To: Fisher, Peter; Paulus, Michael; Carleton, Norman
Ce: Gross, Jared

Subject: RE: Enron Meeting Request

seems ok to me...should be run through GC.

sone Original Message-----

From: Fisher, Peter

Sent: Thursday, March 15, 2001 5:31 PM

To: Paulus, Michael; Ellis, Dina; Carleton, Norman
Ce: Gross, Jared

Subject: RE: Enron Meeting Request

I also see no reason to cbject.

ween Original Message-----

From: Paulus, Michael

Sent: Thursday, March 15, 2001 5:27 PM

To: Ellis, Dina; Fisher, Peter; Carleton, Norman
Ce: Gross, Jared

Subject: Enron Meeting Request

Jeff Skilling, President and CEO of Enron has requested a meeting with the Secretary for


"DxH4@pge.com ', SMTP:DxH4@pge.com

“RMK4pge.com ‘, SMTP: RMK4@pge. com

*joebob-perkins@reliant: gy-com *, SMTP: joebob-perkins@reliantenergy.com
‘marvin_k_ballard@reliantenergy.com ', SMTP:marvin_k_ballard@reliantenergy.com
"KMcCreafsablaw.com ', SMTP:KMcCrea@sablaw. com

*tleldejrésce.com ', SMTP: fieldejrésce.com

*harold.ray@sce.com ', SMTP:harold.ray@sce.com

Reed, Debra L., SMTP: DReed@SDGE.com

Sakarias, Wayne P., SMTP:WSakarias@S0GE.com

*, SMTP: rahaye:
"sjcapoma@seiworldwide.com ', SNTP:sj}capoma@seiworldwide.com

Tierney, Michael C., SMTP:MTierney8sempra.com
"sonnet.edmonds@southernenergy.com ', SMTP: sonnet.edmonds@southernenergy.com
*cread@steptce.com ", SMTP:creadfsteptoe.com

"temoreland@swidlaw.com ", SMIPP:temoreland@swidlaw.com

"julie. greenisen@troutmansanders.com ', SMTP: julie.greenisen@troutmansanders.com
(Oo. ', SMTP:alex.goldberg@williams.com

’

wn treas.yov ', SMTP:ADMIN@do.treas.gov
‘ronald _minsk@opd.eop.gov ‘, SMTP: ronald_minsk@opd.eop.gov
*4mdonnell@duke-energy.com ', SMTP: jmdonnell@duke-energy.com
"hjpodewer@duke-energy.com ', SMTPshjpodewer@duke-energy.com
"bbailey@duke-energy.com ', SMTP: bbailey@duke-energy.com
*njdeschane@duke-energy.com ', SMTP:njdeschane@duke-energy.com
‘wihall@duke-energy.com ', SMTP:wfhall@duke-energy.com
‘sbvanleer@duke-energy.com ', SMTP:sbvanleer@duke~energy.com
"xrmk4@pge.com ', SMTP: rmkd@pge.com
"ddrO@pge.com ', SMTP:ddr0@pge.com
"r4p2@pge.com *, SMTP: rdp2@pge.com
"starckle@sce.com ', SMTPistarckleBsace.com
*john.gammie@williams.com *, SMTP: jchn.gammie@williams.com
*reharris@seiworldwide.com ', SMTP:reharris@seiworldwide.com
*‘amfuller@seiworldwide.com ', SMTP:amfuller@seiworldwide.com
"dimiller@seiworldwide.com ', SMTP:dlmiller@seiworldwide.com
*jwholden@seiworldwide.com ', SHTP:jwholden@seiworldwide.com
*richard.shapiro@enron.com ', SMTP:richard.shapiro@enron.com
*robert.badeer@enron,com ', SMTP: robert .badeerfenron.com

ces *Gaylen.Barbour@do.treas.gov ', SMTF:Gaylen.Barbour@do,treas.gov
*curtis.wagner@ferc.fed,us ', SMTP:curtis.wagner@ferc. fed.us

Subject: RE: California Energy Group e-mail TEST MESSAGE
Body:
Please add Nick Fels to this mailing list. His email address is nfels@cov.com

-----Original Message-----

From: David.Wilcoxfdo.treas.gov

To: David.Wilcox@do.treas.gov; Lee.Sachs@do.treas.gov; Chris.Soares@do.treas.gov;
martha.altamar@ferc.fed.us; alexm@calpine.coms jmacias@calpine.com; jason_s.
_seligmanfcea.cop.gov; shg@cpuc.ca.govs Michelle.Greenefdo.treas.govs

Ray. Squitieri@do.treas.govs Veronica,Stokes@do.treas.govs elsenstatl@DSNO. com:
sbvanleer@duke-energy.com; joel.newton@dynegy.com: lynn. lednicky@dynegy.com:
smara@enron.com; linda. lee@ferc,fed.us; dan.poffenberger@ferc.ged.gov.treas.govs
pmohler@hewm.com; richard.glick@hq.doe.gov; smutany@iepa.coms karen. tomcala@pge-corp.com:
exg2@pge.com; DxHi@pge.com: PMKi@pge.com; joebob-perkins@reliantenergy. com;
marvin_k_ballard@reliantenergy.com; KMcCrea@sablaw,com; fieldejrésce.com;

harold. ray@sce.com; dreed@sdge.com; wsakaria@sdge.com; rahayes@seiworldwide.com;
aj}capoma@seiworldwide.com; mtierney@sempra.com; sonnet.edmonds@southernenergy.com:
cread@steptoe.com; temoreland@swidlaw.com; julie.greenisen@troutmansanders com;
alex. goldberg@williams.com; ain@worldnet.att.net; ADMIN@do.treas.gov;

ronald minsk@opd.ecp.gov; jmdonnell@duke-energy.com; hjpodewer@duke-energy. com;
bhailey@duke-energy.com; njdeschane@duke-energy.com; wfhall@duke-energy. com;
abvanleer@duke-energy.com; rmk4@pge.com; ddr0@pge.com; rjp2@pge.coms starckle@sce.com;
john. gammie@williams.com; reharris@seiworldwide.com; smfuller@seiworldwide.com;
dlmiller@seiworldwide.com; jwholden@seiworldwide.com; richard.shapiro§enron.com;
robert .badeer@enron.com



VVVV VV VV VV VV

for the construction of new facilities in the early 1990s, Edison and San
Diego Gas and Electric Co. appealed to the Federal Energy Regulatory
Commission to halt the auction, arguing there was already too much
generation in California, The FERC obliged.

“If anybody had told us in 1996, or even in 1998, that we would
experience (such) load increases, we would have said, ‘You're crazy,' " said D.J,
Smith, a lobbyist for the California Large Energy Consumers Association
and one of the top advocates of deregulation. “Nobody had ever seen load
go up like that in a mature situation.”

Still, production figures from Edison Electric Institute, which provide
4 crude indicator of demand, show consumption grew by 4 percent in 1996, 3.4
percent in 1997, nearly 5 percent in 1999, and a whopping 10 percent this
year.

And surrounding states, including Arizona, Nevada, Oregon and
Washington, began to experience the same demand growth. Since California imported as
much as 25 percent of its power from those states, the amount available
was suddenly reduced by as much as half,

But considering the long time it takes to build plants, in part because
of public opposition, the warnings were too little, too late. In fact, the
situation remained far off the radar screen of consumers, since most were
still insulated from price spikes by a rate freeze,

Then this summer, things started to spiral out of control.

San Diego was the first region to meet the conditions necessary for
full deregulation, and as hot summer months added to demand, customers’ bills
suddenly tripled.

The debt load of PG&E and Edison began to balloon -= to what will be an
estimated $11 billion by the end of 2000 -- as they borrowed to pay for
power while being barred from passing that cost on to consumers.

Suddenly, the glow of deregulation had lost its luster.

It immediately became clear that California's failure to build power
plants as its rapidly growing economy pushed demand upward was a serious
problem. Increasingly, the state's growing technology economy depended on
electricity, and new home construction concentrated in hot areas like
Riverside and San Bernardino counties, where air conditioning is a must.

And for all the talk of competition, there was a serious flaw that made
the market singularly uncompetitive.

In order to encourage generators to create as much power as possible,
deregulation guaranteed the highest price for wholesale electricity.

Through a practice known as the “market cl " the last bidders

~~ who are invariably the most expensive t the price everyone would
receive, In other words, if the first generator bids $30 for a certain amount of
megawatts but the last bids $100, those two bidders and everyone in

between receive $100. As the wholesale price of electricity skyrocketed to
$1,500 per megawatt hour this month from $30 before the storm, the high

cost has been compounded by the fact that everyone receives that amount.

Purther, the law had encouraged utilities to sell their generators and
existing electricity supply without guaranteeing access to affordable
power.

Rather than arranging to buy power on long-term contracts that could
have saved money, they were put in the position of having to buy their power on
a market where profit was the ultimate goal, and they and their consumers
had to pay the price.

Perhaps in the biggest misjudgment, policymakers neglected the huge
amount of money it takes to run power companies and attract customers. Thus, they
overestimated how much competition would flourish in the market.

Running power companies is so costly -- $500 million to build a new
plant -- that only a handful of companies bought into the market. And once they
were here, the marketing cost of signing up new customers was
astronomical.

Indeed, since choice has become available to California, 1 than

1 percent of residential customers has changed electricity providers.

The same gcen for just 15 percent to 20 percent of industrial customers -- the
class that advocated deregulation in the first place.

At the end of the day, this experiment in deregulation has come at a
staggering cost: $40 billion. That includes the $23 billion already paid
by customers when rates were frozen at artificially high levels, and the



H.R. 333, the "Bankruptcy Abuse Prevention and Consumer Protection Act 2001" was reported
out of the House Judiciary Committee on Wednesday, February 14, 2001. During the mark-up
hearing, eighteen amendments were offered with all but one amendsent failing to pass.
Voting occurred largely along party lines. The only amendment that passed was a technical
amendment offered by Chairman Sensenbrenner. Only one Republican crossed party lines to
vote for one of the seventeen other amendments that failed.

Representative Bachus (R-AL) assured the committee that he was committed to working with
Representative Oxley from the Financial Services Committee on commercial bankruptcy
provisions and netting requirements.

ooeese End of message body
Message auditing by MicroData CAMEO Recon


((b)(5) , (b)(2))

If you have any questions, please let me know.
Thank you all for your help.

Steve

sw---~ End of message body

Message auditing by MicroData CAMEO Recon


H.R. 333, the "Bankruptcy Abuse Prevention and Consumer Protection Act 2001" was reported
out of the House Judiciary Committee on Wednesday, February 14, 2001. During the mark-up
hearing, eighteen amendments were offered with all but one amendsent failing to pass.
Voting occurred largely along party lines. The only amendment that passed was a technical
amendment offered by Chairman Sensenbrenner. Only one Republican crossed party lines to
vote for one of the seventeen other amendments that failed.

Representative Bachus (R-AL) assured the committee that he was committed to working with
Representative Oxley from the Financial Services Committee on commercial bankruptcy
provisions and netting requirements.

ooeese End of message body
Message auditing by MicroData CAMEO Recon


Douglas; Vandivier, David; Sandberg, Sheryl: Stern, Todd; Cohen, Alans Wolin, Neal; Moe,
Martin
Subject: wires ~ California Power Talks

DJ Principals In Calif Pwr Talks Set To Reconvene Saturday

Dow Jones International News Service via Dow Jones

WASHINGTON {Dow Jones}=-The principal negotiators involved in White
House-brokered talks to solve California's electricity crisis are slated to
reconvene here Saturday afternoon, the U.S. Treasury Department confirmed
Friday.

The resumption of high-level talks among top-ranking officials representing
the Clinton administration, California, and utilities and power suppliers will
take place at U.S. Department of Energy headquarters at 3:30 p.m. EST.

California Gov, Gray Davis and other key state regulators and lawmakers are to
participate via a video conferencing link,

The pivotal negotiating session comes after two working groups involving
lower-level officials have since Wednesday in an effort to flesh out the
details of a broad settlement package the principals discussed late Tuesday
during a seven-hour meeting at the Treasury Department.

Knowledgeable sources described Treasury Secretary Lawrence Summers as taking
an active role in attempting to forge an agreement during Tuesday's talks, which
also featured Energy Secretary Bill Richardson, White House economic adviser
Gene Sperling and Federal Energy Regulatory Commission Chairman James Hoecker.

Richardson, who is traveling this weekend in an effort to lobby oil-producing
nations against a pending production cut, will not be attending Saturday's
session.

The working group meetings will wrap up sometime Friday, the Treasury
Department said.

The two groups have separately addressed the two primary features of the
proposed settlement, which involve moving the state's financially ailing
utilities out of volatile spot power markets and into fixed-price forward
contracts while power producers agree to "forbearance" on the huge debt owed by
the utilities

The forbearance and contracts working groups have been meeting separately, and
were to convene a joint s ion late Friday to compare notes before reporting
back to the principal negotiators who will cut any final deal.

Those familiar with the talks have expressed a mix of pessimiam and cptimiam
that a final deal can be struck, given what they described as unrealistic
bargaining demands by Gov. Davis.

He has firmly rejected retail rate increases and resisted demands for the
state to guarantee the nearly $12 billion utilities have paid over the last
eight months for wholesale power but been unable to pass along under
state-mandated frozen retail rates.

Further complicating the talka have been demands by Davis that the proposed
long-term power contracts be at rates far below the production costs of
electricity generators.

But lately the pessimiam has been tempered by signals that Davis may be
persuaded to relent Saturday in his opposition to a state-backed securitization
of the utilities’ undercollections.


there had been a “ceiling on our profits” under the old system,
> £-mail Christian Berthelsen at cbherthelsen@sfchronicle.com.

> Copyright 2000 SF Chronicle

-----= End of message body
Message auditing by MicroData CAMEO Recon


From: Wilcox, David

Sent: Thursday, February 21, 2002 12:44 AM

To: SearchCameo

Subject: CAMEO Recon found a word: Enron sent by Elmendor, Douglas to Wilcox, David on
12/14/2000 6:10:47 PM

This message was found to have a Critical Word in it. Message Sent to Wilcox, David, From
Elmendorf, Douglas, CC to , Date 12/14/2000 6:10:47 PM, Subject of message california
electricity

Word(s) found: Enron

sone ‘Original Message-----

From: Elmendorf, Douglas

Sent: 12/14/2000 6:10:47 2M
Received: 12/14/2000 6:10:47 PM

tstnef.doc
To: Wilcox, David, EX:/O=USTRE ASURY/OU=DO/CN=RECIPIENTS/CN=WILCOXD
ce:
Subject: california electricity
Body:

I've cleaned up Ray's memo a little (based in part on your previous comments and on the
phone conversation with the ENRON guy), but you should look it over. Ray should also
review it in the morning to be sure that I didn’t introduce any factual errors.

btw, Jon Talisman says that the CPI change will be in the tax bill that is about to be
passed.

aiadatad End of message body

Message auditing by MicroData CAMEO Recon


Local alr quality officials and business advocates say the progcam was

working fine until the electricity crisis.

But critics, including the U.S. Environmental Protection Agency, the state

air board, environmentalists and some scholars, disagree. They say the energy
crisis revealed structural flaws in the program that were bound te surface
sooner or later. “The simplistic explanation as to why RECLAIM failed is the
market was much more volatile than people expected and that is due to the
electricity situation, an anomaly, an unmanageable spike rippling through the
market. But that’s not the whole story,” said Tom Canaday, environmental
engineer for the EPA.

Local air quality officials acknowledge that, from its inception, the program
PAGE 3

Los Angeles Times April 17, 2001, Tuesday,

was embedded with powerful disincentives to cut smog. That is because they
seeded it with too many credits, about 40% more than real-world emissions.
Credits were so plentiful and cheap for sco long that companies grew addicted to
buying them instead of spending more for pollution controls. The system crashed
last year when manufacturers returned to the marketplace expecting to find more
cheap credits, but instead discovered that power companies had bought most of
them, driving up prices for the few that were left over,

All the while, air quality officials did not push business to install

controls and instead trusted them to make wise choices. Indeed, that was the
very goal of the program.

“For seven yea the program did absolutely nothing,” said an EPA official
familiar with + “Businesses got used to cheap credits. Nobody did what they
were supposed to do: responsible planning.”

RECLAIM was born during an economic downturn when business groups demanded a
flexible alternative to traditional regulations. Many economists and
conservative politicians continue to favor market-driven programs, and such
approaches are expected to figure prominently in the Bush

administration's attempt to have a clean environment for less cost and red tape.
Representatives of big businesses, which control about 85+ of the nitrogen
oxide credits, say RECLAIM has saved them money while contributing to record
clean air the region experienced during the 1990s. Air quality officials ascribe
most of that progress to cleaner car exhaust.

Companies saved an estimated 414 on compliance costs under RECLAIM compared

to traditional regulations, although most of the savings occurred because
pollution controls were delayed for so long.

At the Arco refinery in Carson, engineers searching for ways to reduce
emissions under RECLAIM recently turned smog into c; rerouted propylene
qas, a byproduct of oil refining, from boilers inte a processing plant where
they converted it to plastic pellets for water bottles, patio furniture and
strawberry crates, reducing about 500 tons of pollutants annually.

"Now the polypropylene plant is 4 revenue-generating plant,” said Susan
Livingston, environmental manager for British Petroleum.

In trying to fix the program, AQMD officials face a difficult balancing act:
They want to help lower credit prices by ving the power plants from the
program, But if the credits become too cheap again, companies won't have any
financial incentive to reduce emissions. It's the same scenario that made the
program ineffective in the first place.

The agency's governing board meets May 11 to consider amendments to the
program.

The agency is already planning to require 36 of the biggest polluters to

begin submitting plans detailing how and when they will install additional
pollution controls. Among those targeted are California Portland Cement in
Colton, the Los Angeles Department of Water and Power, and Equilon Enterprises,
which operates a refinery in Wilmington. Industry initially balked at the
demand, but relented after air quality officials dropped a federal enforcement
PAGE 4

Los Angeles Times April 17, 2001, Tuesday,

requirement.

The AQMD governing board also approved a regulation last month to allow
companies to clean up heavy-duty diesel engines in exchange for emission credits
for use at factories. The EPA has not approved similar rules by the AQMD, and
state air quality officials frown on the practice.

Barry R. Wallerstein, executive officer of the AQMD, said proposed changes to



From: Squitieri, Ray

Sent: Thursday, February 21, 2002 12:19 AM

To: SearchCameo

Subject: CAMEO Recon found a word: Enron, Kenneth Lay sent by Schultheiss, Heidilynne to
Povier Sachs, Lee; Paulus, Michael, Greene, Michelle; Gross, Jared on 1/2/2001

This message was found to have a Critical Word in it. Message Sent to Squitieri, Ray:
Sachs, Lee; Paulus, Michael; Greene, Michelle: Gross, Jared, From Schultheiss, Heidilynne,
Cc to Carleton, Norman; Wickoloff, Peter: Soares, Chris: Cetina, Jill, Date 1/2/2001
2:23:12 PM, Subject of message SF Chronicle Article on Cal Energy Situation

Word(s} found: Enron, Kenneth Lay

orem Original Message-~~~~

From: Schultheiss, Heidilynne

Sent: 1/2/2001 2:23:12 PM

Received: 1/2/2001 2:23:12 PM

To: Squitieri, Ray, EX: /O#USTREASURY/OU*DO/CN*RECIPIENTS/CN*SQUITIERIR
Sachs, Lee, EX: /O*USTREASURY/OU*DO/CN*RECIPIENTS/CN*SachsL
Paulus, Michael, EX: /OsUSTREASURY/OU=DO/CN#RECIPIENTS/CN*PaulusM
Greene, Michelle, EX: /O=USTREASURY/OU=DO/CN#RECIPIENTS/CN=GREENEMI
Gross, Jared, EX: /O=USTREASURY/OU=DO/CN#RECIPIENTS/CN#GrossJa

cc: Carleton, Norman, EX: /O-USTREASURY/OU=D0/CN=RECIPIENTS/CN=CARLETONN
Wickoloftt, Peter, EX: /O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=NICKOLOFEP
Soares, Chris, EX:/OQ=USTREASURY/OU=D0/CN=RECIPIENTS/CN=SOARESC
Cetina, Jill, EX: /O=USTREASURY/OU=D0/CN=RECIFIENTS/CN=CETINAT

Subject: SF Chronicle Article on Cal Energy Situation

Body:

This was sent to me by a former Dok employee who now works for an private-sector energy
company in Houston. It's a good, comprehensive background plece. Unfortunately I don't
have it in electronic form, and the hardcopy (margin) format is a bit strange.

December 31, 2000 (SF Chronicle}

Genesis Of State's Energy Fiasco/String of bad decisions on deregulation
could end up costing consumers $40 billion

Christian Berthelsen

>

>

>

>

>

>

> Next month, about 10 million Californians may begin paying as much as

> 30 percent more for electricity, in a maddening coda to one of the most

> costly public policy mistakes ever made.

> When the state's leaders started moving the energy system toward

> deregulation six years ago, they envisioned a brand new day in which

> utility companies’ long-standing monopoly would be broken and rates would

> decline by as much as 25 percent.

> Instead, when it is over, it may cost customers of the state's

> investor-owned utilities $40 billion, perhaps more. In the coming year, it could
> harm the world's sixth-largest economy and send a ripple effect throughout

> the globe for those dependent on California's continued prosperity.

> This is the story of what went wrong with deregulation, and how

> planning lapses, serious policy blunders -- and warnings that came too late -- set
> California's two main utilities, Pacific Gas & Electric Co. and Southern

> California Edison, toward a train wreck.

> Power plant construction lagged while demand expanded. Leaders

> misjudged how much competition there would be to supply California with juice. And
> flawed deregulation laws left utilities and their customers at the mercy

> of power companies, extracting the highest price for electricity.

> “There was a blind adherence to free-market ideology that couldn't


TNPC is among a total of 11 companies that have filed for certification

with the PUCT, and the list of providers is impressive and diverse. Competitors
that TNPC will face in Texas include Green Mountain Energy, First Choice

Power (the competitive spin-off of Texas-New Mexico Power Company), TXU

Energy Services, Sempra, Shell, and Reliant. Interestingly, Enron Energy
Services also has applied for certification. Since Enron is one of the

key members of TNPC, it cbviously is planning to penetrate the Texas market
from several angles.

Conspicuously absent from the list of those that have applied for certification
is AEP. Anything I might say about AEP's absence from the list would be

purely speculative, but I do find it meaningful that the company has not
matched its competitors" aggressive entry into the Texas retail market.

One indicator might be comments that Linn Draper, AEP's CEO, made in a
conversation I had with him several months back. At that time, Draper disclosed
uncertainty about how the retail business would factor in to AEP’s future
strategy. In fact, Draper said, “We're not so sure that retail is a business
for us." AEP has approximately one million retail customers in the state

of Texas. If AEF is to remain in the retail market in the state, by law

those customers must be served by an unregulated affiliate of the company.
However, at least as of today, no such affiliate has filed an application

with the PUCT.

Some may say it's still rather early in the game for all the flurry of

interest surrounding Texas, given that even the limited pilot program is

still six months away. The increasing interest could be based on the success

of pilot programs in other states, such as Pennsylvania, which was actually
the largest electric pilot program in the nation, with more than 230,000
residential and commercial customers participating. Yet, probably more
important is the sheer size of the Texas market-which presumably will translate
into huge profits for those energy providers that gain a lock on the market-and
the hope surrounding how competition in Texas might develop. After so much
negative press about the flawed system in California, Texas will be the

next big state to open its market to competition. Thus, a great deal is

hinging on how effectively deregulation unfolds in this state.

Moreover, the onset of competition in Texas is a major development for

the energy industry. With regard to population, Texas represents the second
largest energy market (behind California), offering a market ue of about
$20 billion. Texas officials have been watching California closely all
summer long, and remain confident that the power supply problems faced

there won't happen in Texas. This is largely because Texas has avoided
making some of the critical mistakes made in California. One important
distinction between the two states is that Texas regulators have allowed

for power plants to be built in about half the construction time that has
been common in other states such as California. Since 1995, 22 new plants
have started operations in Texas, generating 5,700 MW, By the time competition
starts in little over a year, 15 more plants and 10,000 MW are scheduled

to come online. As a result, Texas officials say that-unlike California-their
state has more than enough generating capacity to meet peak demand and
provide at least a 1l5-percent reserve for the next few years.

In addition, there are significant differences between the market structures
in Texas and California. First, California's structure is based on an auction
pool, which the state modeled on the United Kingdom. Integral to California's
system is a Power Exchange, into which power suppliers submit power that

they want to sell on the competitive market. California's PX discourages

a healthy bilateral contract market from forming because generators can

make more money selling into the PX. Texas, on the other hand, has no Power
Exchange and in fact has encouraged bilateral contracts as the way in which
electric service contracts will take place. In Texas, customers are encouraged
to establish long-term bilateral contracts with suppliers to secure the

best rates, which won't put them at the mercy of wholesale market prices

as customers in San Diego discovered this summer.



“Let's see theic plan, and then we'll talk about that," Steve Maviglio, the
governor's spokesman, said late Thursday,

Davis reportedly has been under increasing pressure from Wall Street and
Clinton administration officials to reconsider his opposition to securitization.

Without a state credit guarantee, a work-out plan can't be struck, the
utilities will enter bankruptcy and the state's power grid will collapse into
blackouts, sources familiar with the talks ne

The affected utilities are Southern California Edison Co., a unit of Edison
International (EIX], and Pacific Gas & Electric Co., a unit of PGSE Corp. (PCG).

By Bryan Lee, Dow Jones Newswires, 202-862-6647, bryan.lee@dowjones.com

(END) Dow Jones Newswires 12-01-01
2100GMT

(AP-DJ-01-12-01 2100GMT}

TICKER: EIX PCG SRE

?SUBJECT: EUTL STGO DI? DI1 DI4 DI2 CA COBO COMM
Copyright (c) 2001 Dow Jones and Company, Inc.
Received by NewsEDGE/LAN: 1/12/01 3:55 PM

Calif power talks aim to reach solution on Saturday

WASHINGTON, Jan 12 (Reuters) - Treasury Secretary Lawrence
Summers, other senior Clinton administration officials and top
executives of electric power companies tentatively planned to
meet on Saturday to finalize a fix for California's power mess,
a source close to the negotiations said on Friday.

The high-level meeting was set to take place at the Energy
Department at 3:30 p.m. EST (2030 GHT), with some California
officials participating via teleconference, the source said.

The state narrowly averted rolling power blackouts on
Thursday as already tight supplies of electricity fell to

Friday marked the fourth day of negotiations among
lower-level aides to map out detailed proposals for short- and
long-term solutions to California's chronic electricity
shortage and skyrocketing prices.

If the Friday talks failed to make as much progress as
hoped, the Saturday session could be downgraded to another day
of negotiations among lower-level officials on technical
issues, according to another source.

Summers and Energy Secretary Bill Richardson launched the
negotiations on Tuesday to prevent the bankruptcy of PG&E Corp
<PCG.N> and Edison International <EIX.N>, which could ripple
throughout the national economy,

Both utilities they have run out of cash because of
runaway prices wholesale power, which are now tenfold higher
than one year ago. Under California's landmark 1996
deregulation law, the higher wholesale prices cannot be passed
through to consumers.

The two utilities want a $0-day reprieve in repaying
billions of dollars te out-of-state power generators, as well
as the ability to sign long-term contracta to lock in lower
prices.

( (washington. commodsenergy. news room@reuters.com) }

‘ERS

Rtg 15:29 01-12-01


From: McHale, Stephen

Sent: Wednesday, February 20, 2002 10:13 PM

To: SearchCameo

Subject: CAMEO Recon found a word: Enron, Jeff Skilling sent by McHale, Stephen to Schmalzbach,

Kenneth; Granat, Rochelle on 4/4/2001 4:00:28 PM

This message was found to have a Critical Word in it. Message Sent to Schmalzhach,
Kenneth; Granat, Rochelle, From McHale, Stephen, CC te Adams, Tim, Date 4/4/2001 4:00:28
PM, Subject of message FW: Personal Financial Issues

Word(s} found: Enron, Jeff Skilling

From: McHale, Stephen

Sent: 4/4/2001 4:00:28 PM

Received: 4/4/2001 4:00:28 PM

To: Schmalzbach, Kenneth, EX: /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=SCHMALZBACHK
Granat, Rochelle, EX: /Q=USTREASURY/OU=D0/CN=RECIPIENTS/CN=GRANATR

cc: Adams, Tim, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=AdamsT
Subject: Fa: Personal Financial Issues

Body:

Please assign someone to work with Tim on this ASAP

wnnee Original Message-----

Prom: Adams, Tim

Sent: Wednesday, April 04, 2001 3:44 PM

To: McHale, Stephen

Cc: Aufhauser, David
Subject: Personal Financial Issues

{(b)(5) , (b)(6)]

+ Thanks! Tim
enee-- End of message body

Message auditing by MicroData CAMEO Recon


Fielder’; ' julia.greenisen@troutmansanders.com’ ; ‘Karen A. Tomcala';
‘Keith McCrea‘; ‘Larry Eisenstat'; Sachs, Lee; ‘Linda Lee's

* lynn.lednicky@dynegy.com’ ; ‘Martha Altamar’; ‘Michael Tierney’; ‘Faul
Mohler’; "Rich Glick's "Reb Hayes’; ‘Ross Ain '; ' RHK@pge.com’ ; ‘Sean
Gallagher"; ‘Sonnet Edmonds'; ‘Steve Vanleer'; ‘Steven Capomaccio'; ‘Sue
Mara’; ‘Terri Moreland’; ‘Tripp Ballard’; ‘Wayne Sakarias’; Soares, Chris;
Squitieri, Ray

Ce:Barbour, Gaylen

Subject:RE: California Energy Group ~ missing e-mail addresses

we still have incorrect e-mail addr
julie greenisen (sp.?) (troutman sanders)

roy kugen (sp.?) (pgse)

jim macias [calpine)

dan poffenberger (sp.?) (ferc)

if anyone knows their correct e-mails, please forward the document to them
and add the correct version of their e-mail to this group list. thanks.

for the following people:

-----Original Message-----

From: Greene, Michelle

Sent:Thursday, January 11, 2001 8:07 PM

To:Stokes, Veronica; ' alex.goldberg@williams.com' ; ‘Alex

Makler'; ‘Charles C, Read'; ‘Claudia Greif’; ‘Curtis Wagner Jr.';

' dan. poffenberger@ferc.ged.us’ ; Wilcox, David; ‘Debra Reed’; ‘Dede
Hapner'; ‘Harold B. Ray’; ‘James Macias'; ‘Jan Smutney Jones’;

' jason eligman@cea.eop.gov' ¢ ‘Joe Bob Perkins'; ‘Joel Newton’; ‘John
Fielder’; ' julia.greenisen@troutmansanders.com’ ; ‘Karen A. Tomcala';
"Meith McCrea’; "Larry Eisenstat'; Sachs, Lee; ‘Linda Lee’;

* lynn. lednicky@dynegy.com’ ; ‘Martha Altamar'; ‘Michael Tierney’; "Paul
Mohler"; "Rich Glick’; "Reb Hayes"; "Ross Ain '; ' RHK@pge.com’ ; ‘Sean
Gallagher"; ‘Sonnet Edmonds'; ‘Steve Vanleer'; ‘Steven Capomaccio'; ‘Sue
Mara’; ‘Terri Moreland'; ‘Tripp Ballard'; ‘Wayne Sakarias'

CerBarbour, Gaylen

Subject:RE: California Energy Group

more e-mail corrections included. the document is attached. we

will reconvene in the same conference room (6th floor, metropolitan
square) at 9am tomorrow. any questions, please call lee sachs's office at
622-2245. thanks.

<< File: Working Group report 4.doc >>

etatataen Original Message-----

From: Stokes, Veronica

Sent: Thura , January 11, 2001 4:56 PM

To:Alex Goldberg; Alex Makler; Charles C. Read; Claudia

Greif; Curtis Wagner Jz.; Dan Poffenberger; David Wilcox; Debra Reed; Dede
Mapner; Harold 8. Ray; James Macias; Jan Smutney Jones; Jason Seliyman;
Joe Bob Perkins; Joel Newton; John Fielder; Julia Greenisen; Karen A.
Tomecala; Keith McCrea; Larry Eisenstats Lee Sachs; Linda Lee; Lynn
Lednickys Martha Altamar; Michael Tierneys Paul Mohler; Rich Glick; Rob
Hayes; Ross Ain ; Roy Kuga; Sean Gallagher; Sonnet Edmonds; Steve Vanleer;
Steven Capomaccio; Sue Mara; Terri Moreland; Tripp Ballard; Wayne Sakarias
Cc:Greene, Michelle; Barbour, Gaylen

Subject:Fw: California Energy Group

This is a test to provide a comprehensive listing for those

who participated in the Treasury Department California Energy Group
meetings this week. If you know of anyone else who should be added to
this list, please call at (202) 622-2245.

VV VV VV VV VV VV

<< Message: California Energy Group >>

nee End of message body


From: McHale,
Sent: ‘Wednesday, February 20, 2002 9:41 PM
SearchCameo

CAMEO Recon found a word: Enron, Jeff Skilling sent by Schmalzbach, Kenneth to Granat,
Rochelle on 3/16/2001 10:00:55 AM

This message was found to have a Critical Word in it. Message Sent to Granat, Rochelle,
From Schmalzbach, Kenneth, CC to Aufhauser, David; Cohen, David; McHale, Stephen, Date
3/16/2001 10:00:55 AM, Subject of message RE: Enron Meeting Request

Word(s) found: Enron, Jeff Skilling

From: Schmalzbach, Kenneth

Sent: 3/16/2001 10:00:55 AM

Received: 3/16/2001 10:00:55 AM

To: Granat, Rochelle, EX: /Q=USTREASURY/OU=D0/CN=RECI PIENTS/CN=GRANATR

cc: Aufhauser, David, EX: /O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=AufhauserD
Cohen, David, EX: /O=USTREASURY/OU=DO0/CN=RECIPIENTS/CN=CohenD
McHale, Stephen, EX: /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=MCHALES

Subject: RE: Enron Meeting Request

Body:
{(b)(5)]
-----Original Message-----
From: Granat, Rochelle

Sent: Friday, March 16, 2001 6:58 AM
To: Schmalzbach, Kenneth
Subject: Ful: Enron Meeting Request

How does this fit into our process?

Prom: Constantine, Eleni

Sent: Thursday, March 15, 2001 6:07 PM
To: Granat, Rechelle

Ce: McInerney, Roberta

Subject: Fu; Enron Meeting Request

Prom: Paulus, Michael

Sent: Thursday, March 15, 2001 6:02 PM

To: McInerney, Roberta; Constantine, Eleni
Subject: Fu: Enron Meeting Request

Please see below, Any thoughts?

ween Original Message-----

From: Ellis, Dina

Sent: Thursday, March 15, 2001 5:59 PM

To: Fisher, Peter; Paulus, Michael; Carleton, Norman
Ce: Gross, Jared

Subject: RE: Enron Meeting Request

seems ok to me...should be run through GC.


((b)(5)]

we


From: Constantine, Eleni
Sent: Wednesday, February 20, 2002 6:57 PM
To:

SearchCameo

CAMEO Recon found a word: Enron sent by Carleton, Norman to Hammond, Donald;
DeMarco, Edward; Ellis, Dina; Huffman, Lucy, Mcinemey, Roberta; Constantine, Eleni;
Hughes, Gerry; Stewart, Lawranine on 2/15/2001 10:06:41 AM

This message was found to have a Critical Word in it. Message Sent to Hammond, Donald;
DeMarco, Edward; Ellis, Dina; Huffman, Lucy: McInerney, Roberta; Constantine, Eleni:
Hughes, Gerry; Stewart, Lawranne, Prom Carleton, Norman, CC to Tishuk, Brian; Robbins,
Eric; Paulus, Michael; Sutton, Gary) Huffman, Lucy: McGivern, Tom; Nickoloff, Peter;
Schultheiss, Heidilynne;: Gross, Jared, Date 2/15/2001 10:06:41 AM, Subject of message RE:
Bankruptcy Reform Mark-up Rearing

Word(s) found: Enron

sonen Original Message-----

From: Carleton, Norman

Sent: 2/15/2001 10:06:41 AM

Received: 2/15/2001 10:06:41 AM

To: Hammond, Donald, EX: /O=USTREASURY/OUsDO/CN«RECIPIENTS/CN*HAMMONDD
DeMarco, Edward, EX: /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=DEMARCOE
Ellis, Dina, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CNeEllisD
Huffman, Lucy, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=HUFEMANL
McInerney, Roberta, EX:/O=-USTREASURY/OU=D0/CN=RECI PIENTS/CN=MCINERNEYR
Constantine, Eleni, EX:/O=USTREASURY/OU=D0/CN=RECIPIENTS/CH=CONSTANTINEE
Hughes, Gerry, EX:/O=USTREASURY/OU=D0/CN=RECIPIENTS/CN=HUGHESG
Stewart, Lawranne, EX: /O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=STEWARTLAW

cc: Tishuk, Brian, EX:/O=-USTREASURY/OU=D0/CN=RECIPIENTS/CN=TISHUKB
Rebbins, Eric, EX:/O=USTREASURY/OU=DO/CN=RECIPIENTS/CN=ROBBINSE
Paulus, Michael, EX:/O=USTREASURY/OU*DO/CN#RECIPIENTS/CN#PaulusM
Sutton, Gary, EX: /O*USTREASURY/OU#DO/CN*RECIPIENTS/CN*SuttonG
Huffman, Lucy, EX: /O-USTREASURY/OU+DO/CN+RECIPIENTS/CN+HUPEMANL
MeGivern, Tom, EX: /O=USTREASURY/OU#DO/CN*RECIPIENTS/CN*MCGIVERNT
Nickoloff, Peter, EX: /O-USTREASURY/OU*DO/CN*RECIPIENTS/CN=NICKOLOFFP
Schultheiss, Heidilynne, EX: /O-USTREASURY/OU*DO/CN+RECIPIENTS/CHeSchultheissh
Gross, Jared, EX: /OsUSTREASURY/OU@DO/CN*RECIPIENTS/CNeGrossJa

Subject: RE: Bankruptcy Reform Mark-up Hearing

Body:
Don,

((b)(S)]


MEMORANDUM FOR THE SECRETARY
From: David Wilcox

Subject: Conversation with Steven Kean (Executive Vice President, ENRON Regarding
the California Electricity Market

{(o)(5))