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Start Date: 4/22/01; HourAhead hour: 14; No ancillary schedules awarded. Variances detected. Variances detected in Energy Import/Export schedule. Variances detected in Load schedule. LOG MESSAGES: PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2001042214.txt ---- Energy Import/Export Schedule ---- $$$ Variance found in table tblINTCHG_IMPEXP. Details: (Hour: 14 / Preferred: 12.00 / Final: 11.98) TRANS_TYPE: FINAL SC_ID: ECTRT MKT_TYPE: 2 TRANS_DATE: 4/22/01 TIE_POINT: PVERDE_5_DEVERS INTERCHG_ID: EPMI_CISO_ERNIE ENGY_TYPE: WHEEL ---- SC Trades Schedule ---- *** Final schedule not found for preferred schedule. Details: TRANS_TYPE: FINAL SC_ID: EPMI MKT_TYPE: 2 TRANS_DATE: 4/22/01 TRADING_SC: CRLP PNT_OF_INTRC: SP15 SCHED_TYPE: ENGY PURCH_SALE: 1 DEAL_NO: 1 ---- Load Schedule ---- $$$ Variance found in table tblLoads. Details: (Hour: 14 / Preferred: 64.70 / Final: 64.67) TRANS_TYPE: FINAL LOAD_ID: PGE3 MKT_TYPE: 2 TRANS_DATE: 4/22/01 SC_ID: EPMI

Take me out to the ballgame! Enron employees are invited to come out and enjoy the Second Annual Enron Night with the Houston Astros. On Friday, July 20th, cheer on our Astros as they face off against Sammy Sosa and the first place Chicago Cubs at 7:05pm. You can be part of this special night and support Mark Koenig, a Sunshine Kids board member, and the Sunshine Kids organization, as they will throw out the ceremonial first pitch. In addition, you can hear the Enron Choir perform our National Anthem and if you're one of the first 15,000 fans through the gates, you will receive an Astros replica batting practice jersey sponsored by Enron. If you are one of the first 200 employees to purchase tickets to the game you will be automatically entered to win a Enron Field Gift Package courtesy of the Signature Shop including, the new Enron Field golf shirt, Enron Field stadium replica, and an Enron Field coffee mug ($100 value). The winner will be announced in Enron in Action on Monday, July 9th. Tickets are limited and will be on sale from Monday, June 11th through Friday, June 22nd, so don't miss out on this exciting night of baseball. Discounted tickets will be only $8 each and to order your tickets or for more information, please go on-line to www.enronsigshop.com and click on special events. Enron Night with the Houston Astros is brought to you by Corporate Sports Marketing and Events.

Jeff, It depends on Mark's schedule and whether Susan and I will be out of staff meeting by 2:30 p.m. We'll try it. -----Original Message----- From: Dasovich, Jeff Sent: Monday, April 09, 2001 1:14 PM To: Fawcett, Jeffery Cc: mbaldwin@igservice.com; Scott, Susan Subject: Re: FERC ruling on Kern expansion My apologies. Just been "ordered" to be on a 1 PM (PDT) call. Possible to do our call at 2:30 Houston time. Sorry about that. Best, Jeff Jeffery Fawcett/ENRON@enronxgate 04/09/2001 10:34 AM To: Jeff Dasovich/NA/Enron@Enron cc: Susan Scott/ENRON@enronXgate, mbaldwin@igservice.com@SMTP@enronXgate Subject: FERC ruling on Kern expansion I think we said we'd call you at 3:00 p.m. CDT. See 'ya then. -----Original Message----- From: Dasovich, Jeff Sent: Monday, April 09, 2001 10:21 AM To: Fawcett, Jeffery Subject: Re: FERC ruling on Kern expansion Hmm. Interesting. Thanks for the info. Do we know who got to Breathitt? Forgive me, but what time did we pick to talk today? And will you call me? Best, Jeff

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FYI, the California dockets are on the agenda for the Commission's meeting next Wednesday. We expect the FERC to order an evidentiary hearing on the refund issue. We will keep you posted.

i had to cover some. too much risk. rode most of it back down. i think this whole event is bearish energy.... -----Original Message----- From: Fraser, Jennifer Sent: Tuesday, September 18, 2001 12:58 PM To: Arnold, John Subject: RE: i'm going to assume you did nothuing about yr book and you are back exactly where you were before all this happened..correct? -----Original Message----- From: Arnold, John Sent: Tuesday, September 18, 2001 12:48 PM To: Fraser, Jennifer Subject: seems to me trade guys are getting royally fucked in crude

---------------------- Forwarded by Kay Mann/Corp/Enron on 11/17/2000 08:26 AM --------------------------- From: Ben F Jacoby @ ECT 11/16/2000 06:01 PM Sent by: Ben Jacoby@ECT To: Kay Mann/Corp/Enron@ENRON, Catherine Clark/HOU/ECT@ECT cc: Subject: Re: LM6000 Contract Payment Allocations E voila! Kay Mann@ENRON 11/16/2000 02:47 PM To: Ben F Jacoby/HOU/ECT@ECT cc: Subject: Re: LM6000 Contract Payment Allocations Ben, Has the payment allocation chart been updated, and if so, could I get a copy? Thanks, Kay

EQUITY MORNING MEETING HIGHLIGHTS: A report was just forwarded to you entitled "Morning Meeting Highlights". This is a report put out every morning following the UBS/PaineWebber Equity Research Morning Meeting. It contains information on daily equity upgrades, downgrades, and industry reports from UBS/PaineWebber's equity analysts. If you enjoy the report, please e-mail me at henry.emery@painewebber.com and let me know so I can continue to send it to you on a daily basis. This is simply another way for us to keep you informed on what is going on in the markets. Sincerely, Hank Emery Financial Advisor Private Client Group Emery Financial Group UBS/PaineWebber Incorporated 109 N. Post Oak LN, Suite 150 Houston, TX 77024 713-957-7060 Notice Regarding Entry of Orders and Instructions: Please do not transmit orders and/or instructions regarding your PaineWebber account(s) by e-mail. Orders and/or instructions transmitted by e-mail will not be accepted by PaineWebber and PaineWebber will not be responsible for carrying out such orders and/or instructions. Notice Regarding Privacy and Confidentiality: PaineWebber reserves the right to monitor and review the content of all e-mail communications sent and/or received by its employees.

Joe: Per my voice mail. SS Sara Shackleton Enron North America Corp. 1400 Smith Street, EB 3801a Houston, Texas 77002 713-853-5620 (phone) 713-646-3490 (fax) sara.shackleton@enron.com ----- Forwarded by Sara Shackleton/HOU/ECT on 03/15/2001 10:39 AM ----- Mog Heu@ENRON 03/15/2001 10:29 AM To: Sara Shackleton/HOU/ECT@ECT, cstclai@enron.com cc: Caroline Abramo/Corp/Enron@Enron Subject: Catequil Confirm Please let me know if there is anything else needed in order to get the confirms for these deals to go out... They need to go out today. Here are all the tickets for the trades we have done with Catequil: QV0879.1 QV0879.5 3/2/01 Catequil sell 1 a day AECO for Nov-March 02 @ -.19 QV0879.2 QV0879.6 3/2/01 Catequil buy 1 a day NGI-Chicago Citygate for Nov-March 02 @ 0.255 + .005 QV4865.1 QV4865.5 3/6/01 Catequil sell 1 a day AECO for Nov-March 02 @ -.195 QV4865.2 QV4865.6 3/6/01 Catequil buy 1 a day NGI-Chicago Citygate for Nov-March 02 @ 0.245 + .005 QW3079.1 QW3079.2 3/9/01 Catequil sell 1 a day AECO for May-Oct 01 @ -.195 QW8413.1 QW8413.2 3/13/01 Catequil sell 1 a day AECO for May-Oct 01 @-.25 Mog :)

Just in case worse comes to worse. ---------------------- Forwarded by Mary Poorman/NA/Enron on 03/21/2001 11:29 AM --------------------------- From: Juliann Kemp/ENRON@enronXgate on 03/21/2001 10:39 AM To: Mary Poorman/NA/Enron@Enron cc: Subject: Imbalance gas Mary we just have two. Thanks - Julie contract 012-87794-02-001 (delivery) meter 981506 we owe them 21,771 981244 (delivery) Koch Refinery we owe them 16,810

Activity on desks is dramatically scaled back. Most of the time traders are focused on setting curves. Mid office has the most work, booking cancellations out of commercial book into bankruptcy book. Currently it still appears as if the commercial book has more deals in it that the bankruptcy book. Creditors with deals showing significant market-to-market gains in their favor a reluctant to book out of trades and question valuations, suggesting that going to settlement might be preferred. Legal is deciding difference between "executable" contracts (able to negate deal) and "forward" contracts (collapse deal), with one interpretation being beneficial for EES and the other being beneficial for wholesale. South America appears to have similar issues with Duke requesting collateral before willing to book out of transaction, suggesting high likelihood of physical settlement. In summary, the positions being captured in value-at-risk are questionable, given slow and tedious process of cancellation/booking. However, below is the VAR COB 12/18/01. Entity VAR Historical VAR ? Corp $68.9MM $60.7MM ? Americas $46.5MM $39.6MM ? Gas $17.6MM $23.8MM ? Power $48.9MM $49.5MM ? So. Cone Pwr $239K $239K ? So. Cone Gas $63K $63K

I do not show I did any deals outside of EOL with Koch at the Sabine Hub during this time frame. Sitara deal #369260 refers to EOL deal ID 369298.

Come to EB 30C1, Tuesday, November 7, from 12 to 1. You will hear from Berney Aucoin, a Director in Commodity Structuring. There are only 4 more chances to find that next rotation or just to learn a bit more about the business; and of course, get lunch! Call or email Stacey Dempsey.

FYI Vince ---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 04/18/2000 01:38 PM --------------------------- Enron Capital & Trade Resources Corp. - Europe From: Nick Mooney 04/18/2000 12:47 PM To: Vince J Kaminski/HOU/ECT@ECT cc: Subject: Re: Video Conference with Ross McIntyre no problem just let me know what phone number to link to if youget the VC Nick

---------------------- Forwarded by Rod Hayslett/FGT/Enron on 12/04/2000 08:03 AM --------------------------- Maggie Schroeder 11/30/2000 02:32 PM To: Rod Hayslett/FGT/Enron@Enron cc: Subject: lights.exe

I think that I agree with the points and comments you folks raised in the first echange on indemnities below, but don't have the document to refer to. Scott, please drop by and brief me on these. Cognizant Gov't? Never heard of the term, and itis not one of the usual defined terms. Don't know how it's used here, suggest you decline andmake them clarify. LOL ISSUES: 1. I suppose that this is a NY law contract. I do not think you can effectively limit your liability for gross negligence or wilful misconduct in NY. Regardless of choice of law, we generally cannot get this limited or excluded in contracts with owners, either. I think you should not accept any GE attempt to limit this by means of the cap on liability or otherwise , and should avoid muddying the water on the point by taking any "to the fullest extent permitted by law" clause or other such stuff as a compromise. It will be important every time we wrap the GE equipment. 2. Generally, I do not think they should be able to limit their indemnity for Haz Mat, patents, etc. 3. They have consistently refused to clarify that the indemnity for all third party losses includes third party consequentials when Brian or whoever else over here has been the lead negotiator with GE in the past. I would like to think that we could get it clarified now that the larger Enron is working it. Please try it again if you can. Scott Dieball 09/11/2000 07:29 PM To: Kay Mann/Corp/Enron@ENRON cc: Brian D Barto/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, John Schwartzenburg/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Martin W Penkwitz/NA/Enron@Enron, Roseann Engeldorf/Corp/Enron@ENRON, Sheila Tweed/HOU/ECT@ECT@ENRON, Ben Jacoby/HOU/ECT@ECT@ENRON Subject: Re: GE Language (Document link: John Schwartzenburg) See my comments in blue below. To: Scott Dieball/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt, Brian D Barto/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, John Schwartzenburg/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Martin W Penkwitz/NA/Enron@Enron, Roseann Engeldorf/Corp/Enron@ENRON, Sheila Tweed/HOU/ECT@ECT, Ben Jacoby/HOU/ECT@ECT cc: Subject: GE Language I'm not particularly wild about many of the changes proposed by GE. Agree. Seems that it would be a good idea to get a consensus on how to respond. Here are the issues I see: Indemnity issues: They should indemnify us from claims by their employees/subcontractors. Kay - Is your comment in connection with GE's comment to Section 27.1(iii) (carve out of the 100% LOL for "gross acts" of its subcontractors, vendors, ect.)? GE is in an aggressive outsource mode and needs to remain solely and totally responsible for the actions and liabilities for its subcontractors and vendors. I think Section 20.2(a) as written covers simple negligence of GE's subcontractors and vendors and I would argue that we need to keep Section 27.1(iii) as written dealing with gross negligence of GE's subcontractors and vendors. Indemnity should be triggered by strict liability as well as negligence. Agree - Maybe we could agree to GE's strike out in 20.2(a) provided the phrase "negligent or willfully wrongful" is replaced with "negligent, at fault or strictly liable without fault" (or some variation thereof). What is a cognizant government? Don't know! This was not discussed with MIke so I am not sure what is the meaning of adding this term. We need to also think in terms of how we could be harmed in a situation where GE fails to comply with law, and instead of Enron incurring a monetary penalty, is ordered to shut down the facility. Limit of liability issues: They want to limit their indemnity obligations for complying with laws, patent infringement, liability for haz. waste and liens to 100% of purchase price. They want the limit of liability to apply to gross negligence, if possible. Agree - See 1st comment above re indemnity. They don't want to clarify that they have to indemnify us for another party's claim for consequentials (as in a personal injury claim). Agree. We've don't have anything concrete on assignment yet. Agree. Comments? I suggest we get together before our next scheduled conf. call to discuss our game plan. Sheila has asked that we change Wednesday's call to 1100 Central, or 100 Central if 1100 doesn't work. Is this a problem? Works for me...just let me know when, where, ect. Kay They should have to ---------------------- Forwarded by Kay Mann/Corp/Enron on 09/11/2000 04:07 PM --------------------------- michael.barnas@ps.ge.com on 09/07/2000 07:46:07 PM To: stephen.swift@ps.ge.com, Sheila.Tweed.@enron.com, Roseann.Engeldorf@enron.com, Kay.Mann@enron.com, Scott.Dieball@enron.com, Martin.W.Penkwitz@enron.com cc: kent.shoemaker@ae.ge.com Subject: GE Language Folks, Having conferred at last with my colleagues, I can now forward to you our draft language for the Indemnity and LOL clauses. As Steve mentioned in his earlier message, he has suggested some issues to discuss which could bring us closer to resolution on that issue. Please let me know if you have any question! Best regards, Mike g _____________ Michael C. Barnas Counsel, Power Plants Commercial Operations GE Power Systems One River Road - Building 37, Room 307 Schenectady, NY 12345 USA Phone 8*235-7602 (518) 385 7602 Fax 8*235 5466 (518) 385 5466 Mobile 518 369 9538 (See attached file: MajorClausesGE01.doc) - MajorClausesGE01.doc

---------------------- Forwarded by Kay Mann/Corp/Enron on 10/03/2000 09:14 AM --------------------------- From: Sara Shackleton@ECT on 10/03/2000 09:08 AM To: Kay Mann/Corp/Enron@Enron cc: Mark Taylor/HOU/ECT@ECT Subject: FW: Enovate/PEC ISDA Materials Kay: Attached is the email I received from Steve Curlee. Who is performing legal/credit for Enovate? Sara ----- Forwarded by Sara Shackleton/HOU/ECT on 10/03/2000 09:06 AM ----- Sara Shackleton 09/28/2000 10:14 AM To: Kay Mann/Corp/Enron cc: Subject: FW: Enovate/PEC ISDA Materials Kay: What is this all about? I don't know anything about "ENOVATE" . Is it an Enron company? Sara. ----- Forwarded by Sara Shackleton/HOU/ECT on 09/28/2000 10:11 AM ----- Steven Curlee@ENRON 09/28/2000 09:29 AM To: Sara Shackleton/HOU/ECT@ECT cc: Subject: FW: Enovate/PEC ISDA Materials Sara, I am forwarding this to you because as you will notice your last name has been misspelled. I have been speaking with Peoples recently about the potential sale of some financial options via Enovate. This has brought up to issue of the ISDA agreement. I don't know if you are the one working on this specific ISDA, but I got your name off a document showing you as the person working in general on ISDA agreements between Enovate and third parties. I will call shortly to insure you receive this, and one more to follow, and that you are the appropriate person. If you need to reach me, my extension is 36900. Thanks, Steve ---------------------- Forwarded by Steven Curlee/Corp/Enron on 09/28/2000 09:19 AM --------------------------- b.marozas@pecorp.com on 09/27/2000 05:37:59 PM To: Sara.shackelton@enron.com cc: Steven.Curlee@enron.com Subject: FW: Enovate/PEC ISDA Materials Sara, We were trying to finalize the ISDA between PEC and Enovate. Fred is going to be out of the office until Thursday, but I wanted to forward the ISDA information he has been working on. Based on the ISDA materials attached, do you know how close (best quess: number of days, weeks or months) we are to finalizing the contract? Thanks, Brian <<MEH Schedule to Master Agreement v.1.doc>> <<MEH-PEC Paragraph 13 to Credit Support.doc>> <<MEH-PEC ISDA.doc>> <<MEH-PEC Credit Support Annexy-bi.doc>> <<MEH-PEC Paragraph 13 Exhibit A.doc>> ---------- From: Jacobsen, Fred Sent: Tuesday, September 26, 2000 10:43 AM To: Marozas, Brian; Huprikar, Aparna Cc: Nassos, John G.; Pokorny, Judy Subject: Enovate/PEC ISDA Materials Attached please find drafts of the following ISDA documents to be entered into between Enovate, L.L.C. and Peoples Energy Corporation: 1. Schedule to Master Agreement 2. Paragraph 13 to Credit Support Annex 3. Exhibit A to Paragraph 13 to Credit Support Annex 4. ISDA Master Agreement 5. ISDA Credit Support Annex. Brian, please forward to me the contact information for the person handling the negotiation of these documents on behalf of Enron. Thank you, Fred. <<File: MEH Schedule to Master Agreement v.1.doc>><<File: MEH-PEC Paragraph 13 to Credit Support.doc>> <<File: MEH-PEC ISDA.doc>><<File: MEH-PEC Credit Support Annexy-bi.doc>> <<File: MEH-PEC Paragraph 13 Exhibit A.doc>> ---------------------------------------------------------------- The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer. - MEH Schedule to Master Agreement v.1.doc - MEH-PEC Paragraph 13 to Credit Support.doc - MEH-PEC ISDA.doc - MEH-PEC Credit Support Annexy-bi.doc - MEH-PEC Paragraph 13 Exhibit A.doc

Just a friendly reminder to select 7 to 10 PEP reviewers this morning. If you have picked them but have not input them into the system, please input them for my review. Thanks, Marnie

Please see attached. Regards, Wendi LeBrocq 3-3835

---------------------- Forwarded by Tana Jones/HOU/ECT on 05/12/99 03:25 PM --------------------------- From: Gail Tholen on 05/12/99 12:15 PM To: Tana Jones/HOU/ECT@ECT cc: Casey Evans/AA/Corp/Enron@Enron, Faith Killen/HOU/ECT@ECT Subject: 1st Qtr 10-Q Outstanding PBC Request Items Any word on the Nymex Letter? ---------------------- Forwarded by Gail Tholen/HOU/ECT on 05/12/99 12:13 PM --------------------------- Casey Evans@ENRON 05/03/99 11:49 AM To: Georgeanne Hodges/HOU/ECT@ECT, Gail Tholen/HOU/ECT@ECT, Philippe Travis/HOU/ECT@ECT, Michael E Moscoso/HOU/ECT@ECT, Lindsay Long/HOU/ECT@ECT, Sheri Thomas/HOU/ECT@ECT, Kenneth W Walther/HOU/ECT@ECT cc: Subject: 1st Qtr 10-Q Outstanding PBC Request Items I am attaching a list of the 10-Q items that are still outstanding. We would like to get this information as soon as possible as our deadline for final comments on the 10-Q is "scheduled" for May 10. If you have any questions or foresee any problems in providing the information applicable to you or your group, please call me at 3-7230 or Jennifer Stevenson at 3-7230. Thank you for your time. Casey

-----Original Message----- From: Thompson, Virginia Sent: Tuesday, July 03, 2001 2:47 PM To: Dunton, Heather Subject: FW: DPR - WAPA CRSP DMS #8526 heather, can you shed any light on this? -----Original Message----- From: Clemons, Amy Sent: Tuesday, July 03, 2001 2:43 PM To: Thompson, Virginia Subject: RE: DPR - WAPA CRSP DMS #8526 Honestly, I don't know - maybe a risk person could better answer. All I know is we only give DPR in the amount of the variance between what they flashed and what we actualized ( finaled ) - Sorry I can't be of more help - maybe ask Casey Evans - A -----Original Message----- From: Thompson, Virginia Sent: Tuesday, July 03, 2001 4:41 PM To: Clemons, Amy Cc: Dunton, Heather Subject: RE: DPR - WAPA CRSP DMS #8526 Amy, For my own information, how does risk flash only ($ 67,580) worth of tranny purchases in April if EnPower was accounting for ($196,200.00) until the end of May? Virginia -----Original Message----- From: Clemons, Amy Sent: Tuesday, July 03, 2001 2:27 PM To: Thompson, Virginia Subject: DPR - WAPA CRSP DMS #8526 Virginia - In April Risk flashed ($67,580) for WAPA CRSP trans. You were also given in April , DPR of $3,495.50. This would bring your books to reflect the true/finaled amonut of $64,084.50. The DMS variance was strictly an accounting variance - we used that to adjust to what we accrued - which was the multiplying incorrectly piece. So no more DPR - your books should be good for April WAPA CRSP trans. Let me know if you have any more questions - A

FYI. ----- Forwarded by Jeff Dasovich/NA/Enron on 03/19/2001 08:30 PM ----- andy brown <andybrwn@earthlink.net> 03/19/2001 07:36 PM Please respond to abb; Please respond to andybrwn To: Katie Kaplan <kaplan@iepa.com> cc: "'Alex Sugaoka (E-mail)'" <alex.sugaoka@uaecorp.com>, "'Bill Carlson (E-mail)'" <william_carlson@wastemanagement.com>, "'Bill Woods (E-mail)'" <billw@calpine.com>, "'Bob Ellery (E-mail)'" <bellery@spi-ind.com>, "'Bob Escalante (E-mail)'" <rescalante@riobravo-gm.com>, "'Bob Gates (E-mail)'" <bob.gates@enron.com>, "'Carolyn A Baker (E-mail)'" <cabaker@duke-energy.com>, "'Cody Carter (E-mail)'" <cody.carter@williams.com>, "'Curt Hatton (E-mail)'" <Curt.Hatton@gen.pge.com>, "'Curtis Kebler (E-mail)'" <curtis_l_kebler@reliantenergy.com>, "'David Parquet'" <david.parquet@enron.com>, "'Dean Gosselin (E-mail)'" <dean_gosselin@fpl.com>, "'Doug Fernley (E-mail)'" <fernley.doug@epenergy.com>, "'Douglas Kerner (E-mail)'" <dkk@eslawfirm.com>, "'Duane Nelsen (E-mail)'" <dnelsen@gwfpower.com>, "'Ed Tomeo (E-mail)'" <ed.tomeo@uaecorp.com>, "'Eileen Koch (E-mail)'" <eileenk@calpine.com>, "'Eric Eisenman (E-mail)'" <eric.eisenman@gen.pge.com>, "'Frank DeRosa (E-mail)'" <frank.derosa@gen.pge.com>, "Frazier Blaylock (E-mail)" <frazier_blaylock@ogden-energy.com>, "'Greg Blue (E-mail)'" <gtbl@dynegy.com>, "'Hap Boyd (E-mail)'" <Hap_Boyd@enron.com>, "'Hawks Jack (E-mail)'" <jack.hawks@gen.pge.com>, "'Jack Pigott (E-mail)'" <jackp@calpine.com>, "'Jim Willey (E-mail)'" <elliottsa@earthlink.net>, "'Joe Greco (E-mail)'" <jgreco@caithnessenergy.com>, "'Joe Ronan (E-mail)'" <joer@calpine.com>, "'John Stout (E-mail)'" <john_h_stout@reliantenergy.com>, "'Jonathan Weisgall (E-mail)'" <jweisgall@aol.com>, "'Kate Castillo (E-mail)'" <CCastillo@riobravo-gm.com>, "'Kelly Lloyd (E-mail)'" <kellyl@enxco.com>, "'Ken Hoffman (E-mail)'" <khoffman@caithnessenergy.com>, "'Kent Fickett (E-mail)'" <kfickett@usgen.com>, "'Kent Palmerton'" <kent.palmerton@williams.com>, "'Lynn Lednicky (E-mail)'" <lynn.a.lednicky@dynegy.com>, "'Marty McFadden (E-mail)'" <marty_mcfadden@ogden-energy.com>, "'Paula Soos'" <paula_soos@ogden-energy.com>, "'Randy Hickok (E-mail)'" <rjhickok@duke-energy.com>, "Rick S. Koebbe (E-mail)" <rskoebbe@powerworksinc.com>, "'Rob Lamkin (E-mail)'" <rllamkin@seiworldwide.com>, "'Roger Pelote (E-mail)'" <roger.pelote@williams.com>, "'Ross Ain (E-mail)'" <ain@worldnet.att.net>, "'Stephanie Newell (E-mail)'" <stephanie-newell@reliantenergy.com>, "'Steve Iliff'" <siliff@riobravo-gm.com>, "'Steve Ponder (E-mail)'" <steve_ponder@fpl.com>, "'Susan J Mara (E-mail)'" <smara@enron.com>, "'Tony Wetzel (E-mail)'" <twetzel@thermoecotek.com>, "'William Hall (E-mail)'" <wfhall2@duke-energy.com>, "'Alex Makler (E-mail)'" <alexm@calpine.com>, "Bob Szymanski (E-mail)" <rjszymanski@powerworksinc.com>, "'D. Frank (E-mail)'" <dfrank@seawestwindpower.com>, "'David Dickey (E-mail)'" <david.dickey@calenergy.com>, "'Doug Levitt (E-mail)'" <SDL@calwind.com>, "'Ed Maddox (E-mail)'" <emaddox@seawestwindpower.com>, "'Eric Edstrom'" <edstrome@epenergy.com>, "'Jeff Dasovich (E-mail)'" <Jeff.Dasovich@enron.com>, "'Julie Simon (E-mail)'" <jsimon@epsa.org>, "'Lucian Fox (E-mail)'" <lucian_fox@ogden-energy.com>, "'Mark J. Smith'" <mark_J_smith@fpl.com>, "'Milton Schultz (E-mail)'" <bfpjv@c-zone.net>, "'Nam Nguyen'" <nam.nguyen@powersrc.com>, "'Paul Wood (E-mail)'" <paul_wood@ogden-energy.com>, "'Pete Levitt (E-mail)'" <Pete@calwind.com>, "'Rich Dyer (E-mail)'" <rich_dyer@ogden-energy.com>, "'Robert Frees (E-mail)'" <freesrj@apci.com>, "'Scott Harlan'" <harlans@epenergy.com>, "'Ted Cortopassi (E-mail)'" <ted_cortopassi@ogden-energy.com>, "'Thomas Heller (E-mail)'" <hellertj@apci.com>, "'Tom Hartman'" <tom_hartman@fpl.com>, "'Ward Scobee (E-mail)'" <wscobee@caithnessenergy.com>, "Carol H Hudson (E-mail)" <Chudson@iepa.com>, "Steven Kelly (E-mail)" <steven@iepa.com>, "Andy Brown (E-mail)" <ABB@eslawfirm.com>, "Bob Weisenmiller (E-mail)" <rbw@mrwassoc.com>, "Jan Smutny-Jones (E-mail)" <smutny@iepa.com>, jmpa@dynegy.com, runwithmee@aol.com Subject: IEP FERC/ISO: Draft IEP FERC Cmts on Staff Report Attached in Word format are the draft IEP comments, due to be filed on the 22nd, regarding the FERC Staff Report on market monitoring and market power mitigation. This is my suggested approach, which is obviously subject to change per our discussion during the call tomorrow. I would like to highlight that the draft characterizes the approach as a "circuit breaker" during periods of highest demand and suggests that this is distinct from notions of market power abuse. Other entities are arguing that during the highest demand, when it exceeds available supplies, all suppliers have and are "exercising" (as distinct from abusing?) market power. The draft attempts to highlight the current regional supply context characterized by the drought as a rationale for the "emergency circuit breaker." As mentioned in Katie Kaplan's email this morning, if your company has a draft of comments, we would appreciate an opportunity to look at them to avoid substantive conflicts. I trust this is the right distribution list but I was not able to use the list from this morning's email because of computer problems at my end. ABB -- Andrew Brown Sacramento, CA abb@eslawfirm.com - DRAFT_010318_el00-95-012_IEP_Cmts_Staff_Rpt.doc

You raise a very interesting question on how EECC and ENA will interface in the future. I understand that ENA now has a Technical Support Group (something like that), and some of the folks are EECC personnel who have transferred to ENA. I do not know their function or role. As for the integration of EECC legal comments into a document, I would say that it would depend on the comment. Essentially, the deals are ENA deals, not EECC deals, which means ENA has decision making responsibility. Also, ENA is the project sponsor/owner (until sold), and NEPCO is usually the contractor. The conflicts arise when NEPCO (usually not EECC on ENA deals) is asked to wrap certain contracts, so EECC or NEPCO takes a position as a contractor. So it is difficult for EECC to act as the owner's engineer and the EPC contractor. Another interface issue is that EECC contracts personnel do not typically involve the EECC lawyers in major equipment contracts until the end of the negotiation process. Perhaps this has changed since I left, but that was how things worked when I was with EECC. On the finance/deal lawyer front, my question is who deals with the lenders and their counsel once the financing vehicle is in place? I'll let you know if I think of anything else. I suspect Sheila will have some insight, also. Kay From: Catherine Clark/ENRON@enronXgate on 01/19/2001 10:52 AM To: Roseann Engeldorf/Corp/Enron@ENRON, Kay Mann/Corp/Enron@Enron cc: Lisa Bills/ENRON@enronXgate Subject: ENA/EE&CC meeting Rose and Kay, Lisa has asked for a meeting between ENA and EE&CC to talk about how both companies are going to interface now that we are all on the same team. We are still in the brainstorming stage, trying to think about the agenda for the meeting, and what the ENA representatives should say. I've attached both an agenda and a first crack at the Project Development Process as we see it. It would be GREATLY APPRECIATED if you could provide some comments on how you envision EE&CC and ENA working together on projects, especially how you see the Legal teams interfacing. I tried with a few bullet points, but please feel free to delete, add, amend, rewrite, etc... I'll fax a synthesized version of your comments to Lisa at the end of today. Thank you in advance for your suggestions. -Catherine x3-9943

Eric and Gerald, I have received the following comments on the Avista Interconnect draft. I would like to review my responses (in preparation) with you shortly. Thanks, Greg ---------------------- Forwarded by Greg Brazaitis/HOU/ECT on 01/02/2001 03:35 PM --------------------------- HanshawS <HanshawS@PaceGlobal.com> on 01/02/2001 02:56:26 PM To: "'Greg.Brazaitis@enron.com'" <Greg.Brazaitis@enron.com> cc: "'milt.howard@avistacorp.com'" <milt.howard@avistacorp.com> Subject: Avista - Brazos Valley Interconnect Agreement Hope the new year is treating you well. The Brazos Valley Project is moving forward and we would like to continue our discussions to finalize the interconnect agreement with HPL. Attached are comments for your review. - Comments 1.2.00.doc

The request has been completed with all resources requested either completed or rejected. You can view the details of the request by clicking http://itcapps.corp.enron.com/srrs/auth/emailLink.asp?ID=000000000014988&Page= MyReq.

JIm, Yes, I would be very interested. Vince James L Bouillion 01/17/2001 03:02 PM To: Kevin Kindall/Corp/Enron@ENRON cc: Jere C Overdyke/HOU/ECT@ECT, Vince J Kaminski/HOU/ECT@ECT Subject: Enterprise Risk Management I had a meeting with Willis (Insurance Broker) today and they advised that they have a computer analytics tool that can evaluate traditional exposures and express the risk as VAR. Would you be interested in seeing the tool?

Sharen told me this morning that you guys were waiting on a deal Stewart Rosman did with Port of Oakland yesterday and wanted confirmed today. I've spoken with a few people here and discerned that the deal wasn't in because the counterparty wasn't in the system yet. I took a look and found that Port of Oakland had been added, and entered the deal according to the terms Stewart sent out in an e-mail yesterday. Deal number is 533916. Thanks for waiting. Kate

Attached is a 3 page summary of the Columbia consent agreement with FERC enforcement wherein Columbia agrees to refund $27.5 million to customers related to imbalance transactions. Also attached is a copy of the order (warning - it's about 50 pages long)

Dear Alumni, Business Partners, and Friends: We invite you to read the inaugural issue of the Crummer Journal, a new publication developed, sponsored, and editorially overseen by Crummer's Alumni Board of Directors. The journal is part of a continuing effort to provide Crummer alumni and other business professionals from around the world a platform for networking and sharing meaningful knowledge to help each other prosper in work and life. Inside this issue - - - STUNNING PRESENTATIONS BORING....not my Power Point presentation! Crummer Professor, James P. Gilbert, offers tips on how to better present and sell ideas and concepts to your audience. FACE-To-FACE Ever wanted to ask "how'd you do it" or "what works at your Company?" We asked Greg Clendenin, EMBA '98 & President/ CEO, Middleton Lawn & Pest Control how he manages one of the largest privately owned pest control companies in the nation. STRATEGIC PERSONNEL PLANNING Are your employees aligned with your organization's expectations? How does your organization's life cycle and your employees personal style match....and should it? Find out how to manage the selection process to maximize employee productivity, expectation and retention. Find out from Bob Porter of Management Insights, Inc. THE NEXT BIG THING: WIRELESS INTERNET International Data Corp. (IDC) predicts that by the end of 2002 there will be more wireless than wired subscribers to Internet access. Prasad Sundararaian, MBA '92 will help you understand how this new technology works and how it might be used in your organization. To view and/or print the journal go here: http://www.crummer.rollins.edu/journal

Amy, I am comfortable with the number for Vasant, I recommend $95,000 for Paulo. Vince -----Original Message----- From: Fitzpatrick, Amy Sent: Wednesday, December 05, 2001 2:12 PM To: Kaminski, Vince J Subject: CONFIDENTIAL Vince - Here is the information that I spoke with you about over the phone. Vasan Shanbhogue $250,000 For 2001, set by Corp, would use about the same number Paul Issler $37,500 Up to $95,000 based on this year's market data Thanks for your help! Amy

Dear Dana, I reserved a special page just for you :) HEY JUST A LITTLE SOMTHING Please click on the link below... http://PassThisOn.com/flower/?t=Dana&f=Lesley or <a href="http://PassThisOn.com/flower/?t=Dana&f=Lesley">click here!</a> You should pass it along, too. Lesley ____________________________________________________________________ Oh yeah... One more thing, Dana! Ever wondered how much salary your friends or boss makes?! Click below and then register (for FREE) to find out... http://smartbotpro.net/cgi-local/job4?b=Dana.Davisqzpmenron.com&c=Dana or <a href="http://smartbotpro.net/cgi-local/job4?b=Dana.Davisqzpmenron.com&c=Dana"> click here!</a>

See attached report #6. kurt

We are pleased to present you with a 2001 Special Stock Option Grant Award. As a participant in this grant you have the opportunity to share in the ownership of Enron and the potential profit from increases in the value of Enron's common stock. The 2001 Special Stock Option Grant was made to let you know how valuable you are and to recognize your contributions in making Enron the great company it is today. Although there are no guarantees as to Enron's future stock performance, we believe that an Enron stock option has tremendous future growth potential. The value you ultimately receive from your options will depend on the price of Enron stock at the time you exercise your options. You can access your 2001 Special Stock Option Grant Agreement and the Stock Plan document governing the grant via your eHRonline account on the intranet website at http://ehronline.enron.com. Unlike stock options granted in the past a copy of your grant agreement will not be mailed to your home address. Additionally, the following information regarding the 2001 Special Stock Option Grant can be found on the HR website http://hrweb.enron.com. ? 2001 Special Stock Option Grant Highlights ? 2001 Special Stock Option Grant Frequently Asked Questions (FAQs) ? A "How to Exercise Options" document that contains contact information and PaineWebber forms applicable to your stock options Please take time to review this material. It is important to us and to you. If you have any questions, please contact your Human Resources representative.

Jim, Rick and Steve: This is for tomorrow morning's meeting. To give us a focus for the discussions I thought it would be best if we went through this fairly quickly (maybe 45-50 minutes) as a presentation first. Given the complexity of a full market design, this is obviously only an overview. But our first priority is to present the ideas and develop the logic behind the proposals. See you tomorrow. Seabron This e-mail, and any attachments thereto, is intended only for use by the addressee(s) named herein and may contain legally privileged and/or confidential information. If you are not the intended recipient of this e-mail, you are hereby notified that any dissemination, distribution or copying of this e-mail, and any attachments thereto, is strictly prohibited. If you have received this e-mail in error, please immediately notify me at (617) 354-0060 and permanently delete the original and any copy of any e-mail and any printout thereof. Seabron Adamson Frontier Economics Inc Two Brattle Square Cambridge, MA 02138 USA Ph: (617) 354-0060 Fax: (617) 354-0640 seabron.adamson@frontier-economics.com www.frontier-economics.com - Interim market final.ppt

Reagan thought you may like to see the Bracewell draft of an Asset Management Agreement for AIG. Read it, file it, or throw it away. Completely your call. Heather -----Original Message----- From: "Jay Sonnenberg" <jsonnenberg@bracepatt.com>@ENRON [mailto:IMCEANOTES-+22Jay+20Sonnenberg+22+20+3Cjsonnenberg+40bracepatt+2Ecom+3 E+40ENRON@ENRON.com] Sent: Tuesday, April 10, 2001 11:57 PM To: Kroll, Heather; Pagan, Ozzie; steve.van.hooser@enron.com Cc: Aaron Roffwarg; W. Cleland Dade; Clark Thompson; Scott Miller Subject: AIG Asset Management Agreement/Brokerage Agreement Attached please find the initial drafts of the proposed Asset Management Agreement and Brokerage Agreement for your review. We'll be prepared to turn around these documents to AIG tomorrow. Jay Jay Sonnenberg Bracewell & Patterson, L.L.P. 711 Louisiana St., Suite 2900 Houston, TX 77002-2781 (713) 221-1417 (Ph) (713) 221-2158 (Fax) - #1142119 v3 - ASSET MANAGEMENT AGREEMENT.doc - #1276593 v2 - BROKERAGE AGREEMENT.doc

Terry, please call Jack Meyers (304-623-8811) at CNG Transmission and have these meters moved from CES/CEM pools to Enron's pools. I think all you need to do is send CNG a letter requesting; "Please move all meters flowing into contract 8G0A61 to contract 8G0011". If CNG needs meter information, maybe you could send them the statement they send to Gloria, I believe CES/CEM has 11 contracts. Let me know if you have any questions. thanks ---------------------- Forwarded by Chris Germany/HOU/ECT on 04/06/2000 03:07 PM --------------------------- Chris Germany 04/05/2000 06:10 PM To: Mary Theresa Franklin/HOU/ECT@ECT, James T Javins/DUB/EES@EES, John M Singer/Corp/Enron@ENRON, Heidi Griffith/DUB/EES@EES cc: Angie Zeman/Corp/Enron@ENRON, Molly LaFuze/HOU/ECT@ECT, Victor Lamadrid/HOU/ECT@ECT, Katherine L Kelly/HOU/ECT@ECT, Colleen Sullivan/HOU/ECT@ECT, Gloria G Barkowsky/HOU/ECT@ECT Subject: CNG Appalachian production The CES/CEM CNG Appalachian production is still flowing into the CES/CEM gathering and transmission contracts. Unless someone objects I would like to get this moved over to Enron's pool. We don't need to have the gathering and transmission contracts moved over. Comments/questions?

Return-Path: <Julianna.Grisham@Halliburton.com> Received: from rly-zd04.mx.aol.com (rly-zd04.mail.aol.com [172.31.33.228]) by air-zd05.mail.aol.com (v77.31) with ESMTP; Wed, 17 Jan 2001 08:43:47 -0500 Received: from housmtp100.halnet.com ([32.97.215.250]) by rly-zd04.mx.aol.com (v77.27) with ESMTP; Wed, 17 Jan 2001 08:43:26 -0500 Received: from gloconn001.halnet.com (GLOCONN001 [34.226.128.21]) by housmtp100.halnet.com with SMTP (Microsoft Exchange Internet Mail Service Version 5.5.2652.39) id DD0D19QZ; Wed, 17 Jan 2001 07:37:38 -0600 Received: by GLOCONN001 with Internet Mail Service (5.5.2653.19) id <DD9FW2H0>; Wed, 17 Jan 2001 07:36:53 -0600 Message-ID: <88692DB16951D211A2EE00805F9F305605EF2FD4@houexch010.halexchange.halnet.com> From: Julianna Grisham <Julianna.Grisham@Halliburton.com> To: Erica Clark <Erica.Clark@Halliburton.com>, George Sellers-WestPark <George.Sellers2@Halliburton.com>, Bob Heckel <Bob.Heckel@Halliburton.com>, Gretchen Maddux <Gretchen.Maddux@Halliburton.com>, Steve Palazzo <Steve.Palazzo@Halliburton.com>, "'Amy Bernie'" <bernie_amy@hotmail.com>, "'Ashlea Stuart'" <ashleastu@aol.com>, "'Ashley Baxter'" <Ashley.Baxter@enron.com>, "'Autumn Hugo'" <ahugo@fna.com>, "'Brandee Kirkham'" <brandeekirkham@hotmail.com>, "'Candace Allen'" <candace_m_allen@reliantenergy.com>, "'David Thomas - Work'" <david_thomas@bmc.com>, "'Emily Dreiling - work'" <emily.dreiling@ey.com>, "'Eric Vawter'" <eric_n_vawter@reliantenergy.com>, "'Ivy Culberson'" <iculberson@yahoo.com>, "'Jamie Martin'" <jamimartin@deloitte.com>, "'Jenny Scheifley'" <jscheifley@networkoil.com>, "'Kim Fugler'" <kfugler@yahoo.com>, "'Lauren Dietz'" <laurendietz@aol.com>, "'Libbie Woolsey - work'" <libbie.woolsey@sbti.com>, "'Matt Dietz'" <jmd9813ag@hotmail.com>, "'Mavis Webb'" <mavis.webb@rhic.com>, "'Michelle Buquoi - Work'" <michelle.r.buquoi@us.pwcglobal.com>, "'Niki Stockton'" <kstockto@houstonisd.org>, "'Rou Chandler'" <rou.chandler@staff-leasing.com>, "'Sherry Thomas'" <sthomas@waller.isd.esc4.net> Subject: FW: 21 things to remember Date: Wed, 17 Jan 2001 07:33:24 -0600 MIME-Version: 1.0 X-Mailer: Internet Mail Service (5.5.2653.19) Content-Type: text/plain > -----Original Message----- > From: J. Rodney Grisham [SMTP:Rod.Grisham@RevexTechnologies.com] > Sent: Wednesday, January 17,2001 5:55 AM > To: Grisham, Jocelyn; Grisham, Julianna; Thomas, David > Subject: 21 things to remember > > As we start the NEW YEAR... here are 21 things to remember... > > 1. No one can ruin your day without YOUR permission. > 2. Most people will be about as happy as they decide to be. > 3. Others can stop you temporarily, but only you can do it permanently. > 4. Whatever you are willing to put up with is exactly what you will have. > 5. Success stops when you do. > 6. When your ship comes in.... make sure you are willing to unload it. > 7. You will never "have it all together." > 8. Life is a journey...not a destination. Enjoy the trip! > 9. The biggest lie on the planet: "When I get what I want, I will be > happy." > 10. The best way to escape your problem is to solve it. > 11. I've learned that ultimately, 'takers' lose and 'givers' win. > 12. Life's precious moments don't have value, unless they are shared. > 13. If you don't start, it's certain you won't arrive. > 14. We often fear the thing we want the most. > 15. He or she who laughs... lasts. > 16. Yesterday was the deadline for all complaints. > 17. Look for opportunities... not guarantees. > 18. Life is what's coming... not what was. > 19. Success is getting up one more time. > 20. Now is the most interesting time of all. > 21. When things go wrong... don't go with them.

As indicated in my message earlier today, we have sent notice to the government of Maharashtra drawing on the state guarantee to cover the remaining past due bill for November (there is an additional 7 day wait before we can take action on the December bill). The amount involved is 89 crore (approximately $19 million). We definitely expect press interest/coverage, The Standard in Delhi evidently has the story, but the wires have not picked up on it yet. Attached are the statement and Q&As that will be used to respond to any inquiries. John

I tried to approve this a couple of times, so it should be taken care of. D

i quit -----Original Message----- From: Nelson, Michelle Sent: Wednesday, November 21, 2001 11:15 AM To: Maggi, Mike Subject: RE: that is absolutely disgusting. i see that you are getting in a better mood. so how was your smoke? -----Original Message----- From: Maggi, Mike Sent: Wednesday, November 21, 2001 11:14 AM To: Nelson, Michelle Subject: RE: then you shouldnt sit on his lap, there are extra chairs up here -----Original Message----- From: Nelson, Michelle Sent: Wednesday, November 21, 2001 11:12 AM To: Maggi, Mike Subject: RE: what? mark smith makes me ill. i hate coming up there to talk to him. -----Original Message----- From: Maggi, Mike Sent: Wednesday, November 21, 2001 11:12 AM To: Nelson, Michelle Subject: RE: to check out the weather -----Original Message----- From: Nelson, Michelle Sent: Wednesday, November 21, 2001 10:59 AM To: Maggi, Mike Subject: RE: where did you go? i saw you leave -----Original Message----- From: Maggi, Mike Sent: Wednesday, November 21, 2001 10:42 AM To: Nelson, Michelle Subject: RE: i am so ready to get out of here -----Original Message----- From: Nelson, Michelle Sent: Wednesday, November 21, 2001 10:30 AM To: Maggi, Mike Subject: it smells like something is on fire down here. and don't say that it's my brain.

http://www-path.eecs.berkeley.edu:80/~ucenergy/PDFDown.html

When: Thursday, May 31, 2001 1:30 PM-2:30 PM (GMT-06:00) Central Time (US & Canada). Where: EB3335 *~*~*~*~*~*~*~*~*~*

I have been working with the IT group with the development of a new physical system and reports. I have given them my wish list for reporting but would like you all to see what I've proposed and get any additional requests you may have. Are you all available to attend a 10:00 meeting today to discuss this with them? Kam -----Original Message----- From: Clay, Monica Sent: Tuesday, November 13, 2001 2:07 PM To: Keiser, Kam Subject: Consolidated Gas System I thought I sent this but it has been in draft mode...sorry. I have started the Business Requirements document and stumbled across more questions from meetings with the project team. I am going to need to know the purpose of each report (why are they used). For each report how are the fields/columns utilized. I know the second question could take some time. The types of questions I would need to document are what type of information is being given to generate the reports; what fields/columns are mandatory?; are their any calculations that are used to generate columns or are all of them pulled in from other systems. Monica Clay Enron Net Works, LLC 1400 Smith Street Houston, Texas 77002 713-345-7227 1-800-97-ENRON

Daily Blessing Help someone in need http://www.daily-blessings.com/bless15.htm New Year Greetings can be found at http://www.debsfunpages.com/newyearpages.htm want more coupons the next time you go shopping? check out this link http://www.daily-blessings.com/orcoolsavings.htm want to know who's calling when you're online? http://www.daily-blessings.com/callwave.htm have you checked out this links for working from home? http://www.daily-blessings.com/orhome.htm http://www.daily-blessings.com/cjworkfromhome.htm <<<>>> <<<>>> <<<>>> <<<>>> <<<>>> <<<>>> <<<>>> <<<>>> <<<>>> <<<>>> * To remove yourself from this mailing list, point your browser to: http://inbound.postmastergeneral.com/remove?dailyblessings:10 * Enter your email address (judy.hernandez@enron.com) in the field provided and click "Unsubscribe". The mailing list ID is "dailyblessings:10". OR... * Reply to this message with the word "remove" in the subject line. This message was sent to address judy.hernandez@enron.com X-PMG-Recipient: judy.hernandez@enron.com <<<>>> <<<>>> <<<>>> <<<>>> <<<>>> <<<>>> <<<>>> <<<>>> <<<>>> <<<>>>

The latest e-Perspectives from the Dallas Fed is now online. e-Perspectives, Vol. 1, Issue 4 http://www.e-perspectives.org In this issue... ================================================================== Remarks by speakers at the Dallas Fed Conference "New Roads & e-Roads: Market Innovations in Community Development" ================================================================== * "Seeking Common Ground Through E-Mail (and Finding Our Hardheaded Hearts)" by Bob McTeer, Dallas Fed President and CEO * "The Basis of Economic Development in the Inner City: Why Civic Order Must Come First" by Robert L. Woodson, Sr., Founder and President, National Center for Neighborhood Enterprise * "21st Century Demographics: Community Development and Financial Services" by Lautaro Diaz, Deputy Vice President for Community Development, National Council of La Raza ================ Did You Know?? ================ * 2000 HMDA data are now available on the FFIEC web site. * Look for links to resources such as the Texas Low Income Housing Counselor. ----------------------------------------------------------------------------- You have received this message because you subscribe to the Federal Reserve Bank of Dallas Community Affairs announcement list. To unsubscribe, send a blank message to perspectives-off@mail-list.com To change your e-mail address, send a message to perspectives-change@mail-list.com with your old address in the subject line For questions or comments, please contact us at Dal.CommunityAffairs@dal.frb.org. This message was launched into cyberspace to jeff.skilling@enron.com

Azurix Water.

Why is Buxton upset? This is good for consumers? What does he want to change his mind and push this forward? Wouldn't this just lower the prices to his customers? Also, this is why we need to be constantly pushing the political message in the states. Jim -----Original Message----- From: Barnes, Lynnette Sent: Tuesday, August 14, 2001 11:19 AM To: Ferris, Frank; Fromer, Howard; Lawner, Leslie; Memari, Tooran; Miller, Terri; Montovano, Steve; Rishe, Frank; Ross, Derrick; Schoen, Mary; Snyder, Brad; Sullivan, Kathleen; Suttabustya, Buranit; Thome, Jennifer; Truxillo, Wayne; Wininger, James; Ader, Jeff; Anderson, Jonathan; Anderson, Meriwether; Bachmeier, Rick; Bernstein, Eitan; Bernstein, Mark; Bertin, Suzanne; Bolton, Stacey; Chan, Stella; Duda, Geoff; Galow, Gary; Hammond, Pearce; Jackson, Robert; Kazibwe, Julia; Keene, Patrick; Kingerski, Harry; Kosnaski, Andrew; Lopez, Yolanda; Meigs, Mark; Ogenyi, Gloria; Steffes, James D.; Boston, Roy; Bray, Peter; Collins, Joan; Hueter, Barbara A.; Landwehr, Susan M.; Lassere, Donald; Migden, Janine; Stroup, Kerry; Covino, Susan; Magruder, Kathleen; Merola, Becky; Reichelderfer, Thomas; Sandherr, Cynthia Subject: FERC exceeded jurisdiction w/RTO say consumer groups FERC Exceeded Jurisdiction With RTO Order - Consumer Grps Aug. 14, 2001 Dow Jones Energy Service (Copyright (c) 2001, Dow Jones & Company, Inc.) (This article was originally published Monday) NEW YORK -(Dow Jones)- New England consumer advocates Monday said federal energy regulators overstepped their jurisdiction in ordering the consolidation of the wholesale electricity markets and transmission systems in the northeast U.S. The Federal Energy Commission in mid-July directed operators of the power grids in New York, New England and the Mid-Atlantic to merge, as part of a sweeping series of orders designed to put control of the country's transmission system in independent hands. Federal law allows the Federal Energy Regulatory Commission to require transmission systems to connect, but only at the request of a state regulators, according to a filing made by Maine law firm on behalf of consumer groups, nonprofit energy groups and the attorney general of Massachusetts. "The Commission makes no claim in the New England Order that it is acting at the behest of a state commission or public utility, and is, therefore, without authority to mandate the involuntary combination of the Northeastern RTOs," the groups said in their filing, which asked FERC to reconsider its consolidation decision. FERC should give the three Northeast grid operators a transition period to evolve into three regional transmission organization, or RTOs, with similar market designs, transmission tariffs and governance structures before requiring them to merge, the filing said. The commission directed the operators of the wholesale power grid in New England, New York and the Mid-Atlantic to meet with utilities, generators, trade groups, state regulators and a FERC judge in Washington for 45 days beginning July 19 to outline plans for creating one transmission organization from Washington, D.C., to Maine. The regulators also directed Judge Peter Young to submit recommendation to them 10 days after the conclusion of the talks. The commission ordered the consolidation of the Northeast power grid "at breakneck speed" without studying the technical feasibility of creating one RTO and without analyzing the costs and benefits of merging, the consumer groups said in their filing. Young has directed meeting participants not to discuss the substance of the negotiations, but sources familiar with the talks said the group is outlining a business model describing how to structure a Northeast RTO without filling in the details. Participants have said, for example, that this regional market should have one transmission tariff and one interconnection standard, but haven't defined what that tariff and standard should be. "Many people are very discouraged by the ongoing talks," said Anthony Buxton, an attorney with the Maine law firm that submitted Monday's filing. All 300 meeting participants have been gathering in Washington twice a week and have been working on the issues every day outside of those meetings, Young said. Next week, they will break off into smaller groups and begin meeting every day, according to Young and market participants. The commission was in turmoil when it issued its RTO decision, as evidenced by Chairman Curt Hebert's resignation last week, and should therefore reconsider its order, Buxton said. The consumer groups also asked the commission to allow residential electricity users to have a say in how the unified electricity market in the northeast U.S. will run. Market participants, including consumers, will have an advisory capacity only in this new market and won't be allowed to vote on the rules that govern the market, as they do now, Buxton said. This decision contradicted another one FERC issued in 1996 requiring utilities to open their transmission lines to competitors. In that order, the commission encouraged New England to create an independent system operator to oversee the power grid and to give market participants equal say in determining how this regional transmission system and electricity market would operate The consumer groups that filed Monday are working to galvanize other organizations representing residential customers in New England, Buxton said. "Consumers are going to be at the forefront of a massive attack on FERC for what it's done," Buxton said. -By Kristen McNamara, Dow Jones Newswires; 201-938-2061; kristen.mcna <mailto:kristen.mcnamara@dowjones.com> 713-853-9287 888-703-0309

FYI ---------------------- Forwarded by Audrey Robertson/ET&S/Enron on 11/27/2000 08:33 AM --------------------------- From: Deb Cappiello 11/21/2000 09:44 AM To: Julie Armstrong/Corp/Enron@ENRON, Barbara Bischoff/ET&S/Enron@ENRON, Audrey Robertson/ET&S/Enron@ENRON, Carol Armstrong/ET&S/Enron@ENRON, Sharon Solon/ET&S/Enron@ENRON, Ann Smith/ET&S/Enron@ENRON, Martha Benner/ET&S/Enron@ENRON, Ricki Winters/ET&S/Enron@Enron, Judy Kudym/ET&S/Enron@ENRON, /ET&S/Enron@Enron, Marlene McCoy/ET&S/Enron@ENRON, Lorna Brennan/ET&S/Enron@ENRON, Julie McCoy/ET&S/Enron@ENRON, David Badura/ET&S/Enron@ENRON, Mike Barry/ET&S/Enron@ENRON, Michael Bodnar/ET&S/Enron@ENRON, Sean Bolks/ET&S/Enron@ENRON, Joni Bollinger/ET&S/Enron@ENRON, Janet Bowers/ET&S/Enron@ENRON, Theresa Branney/ET&S/Enron@Enron, Craig Buehler/ET&S/Enron@ENRON, Bob Burleson/ET&S/Enron@ENRON, Reyna Cabrera/ET&S/Enron@Enron, Allen Cohrs/ET&S/Enron@ENRON, John Dushinske/ET&S/Enron@ENRON, Lee Ferrell/ET&S/Enron@Enron, John Fiscus/ET&S/Enron@ENRON, Bill Fowler/ET&S/Enron@Enron, Steve Gilbert/ET&S/Enron@ENRON, Morgan Gottsponer/ET&S/Enron@ENRON, Rosemary Gracey/ET&S/Enron@ENRON, Stephen Herber/ET&S/Enron@ENRON, Connie Hook/ET&S/Enron@ENRON, Martha Janousek/ET&S/Enron@ENRON, Tim Johanson/ET&S/Enron@ENRON, Dana Jones/ET&S/Enron@ENRON, Steve Kirk/ET&S/Enron@ENRON, Stephanie Korbelik/ET&S/Enron@ENRON, Karen Lagerstrom/ET&S/Enron@ENRON, Laura Lantefield/ET&S/Enron@ENRON, Bill Mangels/ET&S/Enron@ENRON, Robert Mason/ET&S/Enron@Enron, Miriam Martinez/ET&S/Enron@ENRON, Penny McCarran/ET&S/Enron@ENRON, Vernon Mercaldo/ET&S/Enron@ENRON, Kent Miller/ET&S/Enron@ENRON, Jan Moore/ET&S/Enron@ENRON, Dave Neubauer/ET&S/Enron@ENRON, Sue Neville/ET&S/Enron@ENRON, Jeff Nielsen/ET&S/Enron@Enron, Frank Oldenhuis/ET&S/Enron@Enron, Larry Pavlou/ET&S/Enron@ENRON, Eileen Peebles/ET&S/Enron@ENRON, Loren Penkava/ET&S/Enron@ENRON, Tony Perry/ET&S/Enron@ENRON, Don Powell/ET&S/Enron@ENRON, Ken Powers/ET&S/Enron@ENRON, Pilar Ramirez/ET&S/Enron@ENRON, Chris Sebesta/ET&S/Enron@ENRON, Frank Semin/ET&S/Enron@ENRON, Neal Shaw/ET&S/Enron@ENRON, Michael G Stage/ET&S/Enron@ENRON, LD Stephens/ET&S/Enron@ENRON, Bob Stevens/ET&S/Enron@ENRON, Rockey Storie/ET&S/Enron@ENRON, Larry Swett/ET&S/Enron@ENRON, Kay Threet/ET&S/Enron@ENRON, India Torres/ET&S/Enron@Enron, Mike Ullom/ET&S/Enron@ENRON, Lisa Valley/ET&S/Enron@ENRON, Kimberly Watson/ET&S/Enron@ENRON, Linda Wehring/ET&S/Enron@ENRON, Steve Weller/ET&S/Enron@ENRON, Chuck Wilkinson/ET&S/Enron@ENRON, Jo Williams/ET&S/Enron@ENRON, John Williams/ET&S/Enron@ENRON, Jim Wiltfong/ET&S/Enron@ENRON cc: Subject: Revised Phone List Attached ---------------------- Forwarded by Deb Cappiello/ET&S/Enron on 11/21/2000 09:41 AM --------------------------- From: Deb Cappiello 11/21/2000 09:41 AM To: Julie Armstrong/Corp/Enron@ENRON, Barbara Bischoff/ET&S/Enron@ENRON, Audrey Robertson/ET&S/Enron@ENRON, Carol Armstrong/ET&S/Enron@ENRON, Sharon Solon/ET&S/Enron@ENRON, Ann Smith/ET&S/Enron@ENRON, Martha Benner/ET&S/Enron@ENRON, Ricki Winters/ET&S/Enron@Enron, Judy Kudym/ET&S/Enron@ENRON, /ET&S/Enron@Enron, Marlene McCoy/ET&S/Enron@ENRON, Lorna Brennan/ET&S/Enron@ENRON, Julie McCoy/ET&S/Enron@ENRON, David Badura/ET&S/Enron@ENRON, Mike Barry/ET&S/Enron@ENRON, Michael Bodnar/ET&S/Enron@ENRON, Sean Bolks/ET&S/Enron@ENRON, Joni Bollinger/ET&S/Enron@ENRON, Janet Bowers/ET&S/Enron@ENRON, Theresa Branney/ET&S/Enron@Enron, Craig Buehler/ET&S/Enron@ENRON, Bob Burleson/ET&S/Enron@ENRON, Reyna Cabrera/ET&S/Enron@Enron, Allen Cohrs/ET&S/Enron@ENRON, John Dushinske/ET&S/Enron@ENRON, Lee Ferrell/ET&S/Enron@Enron, John Fiscus/ET&S/Enron@ENRON, Bill Fowler/ET&S/Enron@Enron, Steve Gilbert/ET&S/Enron@ENRON, Morgan Gottsponer/ET&S/Enron@ENRON, Rosemary Gracey/ET&S/Enron@ENRON, Stephen Herber/ET&S/Enron@ENRON, Connie Hook/ET&S/Enron@ENRON, Martha Janousek/ET&S/Enron@ENRON, Tim Johanson/ET&S/Enron@ENRON, Dana Jones/ET&S/Enron@ENRON, Steve Kirk/ET&S/Enron@ENRON, Stephanie Korbelik/ET&S/Enron@ENRON, Karen Lagerstrom/ET&S/Enron@ENRON, Laura Lantefield/ET&S/Enron@ENRON, Bill Mangels/ET&S/Enron@ENRON, Robert Mason/ET&S/Enron@Enron, Miriam Martinez/ET&S/Enron@ENRON, Penny McCarran/ET&S/Enron@ENRON, Vernon Mercaldo/ET&S/Enron@ENRON, Kent Miller/ET&S/Enron@ENRON, Jan Moore/ET&S/Enron@ENRON, Dave Neubauer/ET&S/Enron@ENRON, Sue Neville/ET&S/Enron@ENRON, Jeff Nielsen/ET&S/Enron@Enron, Frank Oldenhuis/ET&S/Enron@Enron, Larry Pavlou/ET&S/Enron@ENRON, Eileen Peebles/ET&S/Enron@ENRON, Loren Penkava/ET&S/Enron@ENRON, Tony Perry/ET&S/Enron@ENRON, Don Powell/ET&S/Enron@ENRON, Ken Powers/ET&S/Enron@ENRON, Pilar Ramirez/ET&S/Enron@ENRON, Chris Sebesta/ET&S/Enron@ENRON, Frank Semin/ET&S/Enron@ENRON, Neal Shaw/ET&S/Enron@ENRON, Michael G Stage/ET&S/Enron@ENRON, LD Stephens/ET&S/Enron@ENRON, Bob Stevens/ET&S/Enron@ENRON, Rockey Storie/ET&S/Enron@ENRON, Larry Swett/ET&S/Enron@ENRON, Kay Threet/ET&S/Enron@ENRON, India Torres/ET&S/Enron@Enron, Mike Ullom/ET&S/Enron@ENRON, Lisa Valley/ET&S/Enron@ENRON, Kimberly Watson/ET&S/Enron@ENRON, Linda Wehring/ET&S/Enron@ENRON, Steve Weller/ET&S/Enron@ENRON, Chuck Wilkinson/ET&S/Enron@ENRON, Jo Williams/ET&S/Enron@ENRON, John Williams/ET&S/Enron@ENRON, Jim Wiltfong/ET&S/Enron@ENRON cc: Subject: Revised Phone List Additions: Jan Moore, India Torres - Changes: Passcode No. for morning/weekend conference no.

Hey buddy, what's happening? Not much up here these days. I took last week off and Phillip is out this week, so I don't have much to do. I'm pretty much done scheduling and I start next week in Gaskill's group. Anyway, you were going to send me the names of those guys in London we talked to about the synthetic storage, and if you did, I lost them. Regardless, any chance of digging them up for me? I may want to talk to them about their bid process. I think Phillip is ok with going ahead with the idea, but I think I need to keep the ball rolling here with or without him. Mat

This deal was entered as New Counterparty which is fine for a short period of time. However, within a few days someone needs to make sure to change the deal to the correct counterparty name. Can you look into this and let me know? Thanks!

Yes I have but I just cancelled Der. II. thanks, Monika -----Original Message----- From: Cruz, Magdelena Sent: Wednesday, October 31, 2001 10:53 AM To: Causholli, Monika Subject: Have you taken Deriv. I?

For those of you interested in a more detailed document regarding the FERC Order for SDG&E vs. Sellers of Energy and Ancillary Services. Please use the link provided below. Thank you. http://www.ferc.fed.us/news1/pressreleases/calpress.pdf

Reminder The Enron Oral History Project Continues... "Using History to Help Enron Become the World's Leading Company" How can an understanding of strategic choices, regulatory change and corporate culture help Enron achieve its vision? Speaker: Joseph Pratt, Cullen Professor of History and Business, University of Houston and Co-Director, Enron Oral History Project Thursday, June 7 11:30 a.m. to 12:30 p.m. EB 5C2 To Make a Reservation, Call 3-1941 and Select Option 1 Lunch will not be provided, but you are welcome to bring your own. Please inform us ahead of time if you need special accommodations to participate in this meeting. Call 3-9390.

The following deals have been created and entered in Sitara effective 11/1/00 at meter # 98-0435: Counterparty Deal # Nom Price (IFHSC less) Amerada Hess 465994 2,822 0.065 Anadarko Petroleum 465995 1,148 0.065 Apache Corp 465998 1,379 0.065 Barrett Resources 466000 1,597 0.06 Crosstex Energy Svcs 466003 682 0.065 Mariner Energy 466008 350 0.055 Ocean Energy 466014 3,750 0.065 Seneca Resources 466016 3,195 0.06 St. Mary Land & Expl 466017 3,299 0.065 Walter Oil & Gas 466021 6,778 0.055 Dummy 456228 25,000 Killed Bob

Here is the final 2001 Plan for Deal Bench, please call if you have any questions. Thanks Amy 3-7805 ---------------------- Forwarded by Amy Spoede/HOU/ECT on 12/04/2000 04:37 PM --------------------------- Elise Clark@ENRON 12/04/2000 04:06 PM To: Amy Spoede/HOU/ECT@ECT cc: Subject: Budget for 2001 ---------------------- Forwarded by Elise Clark/Corp/Enron on 12/04/2000 03:52 PM --------------------------- Michael K Patrick 12/04/2000 03:20 PM To: Elise Clark/Corp/Enron@ENRON cc: Subject: Budget for 2001 ---------------------- Forwarded by Michael K Patrick/NA/Enron on 12/04/2000 02:33 PM --------------------------- From: Harry Arora@ECT on 12/04/2000 02:41 PM To: Michael K Patrick/NA/Enron@Enron cc: Subject: Budget for 2001 Mike Can you provide me the final budget for DealBench for 2001. Thanks Harry

F.Y.I. Business; Financial Desk Sempra Still Feeling the Heat Energy: The parent firm of 2 Southern California utilities is weathering criticism from all sides, with more flare-ups on the horizon. NANCY RIVERA BROOKS 09/17/2000 Los Angeles Times Home Edition Page C-1 Copyright 2000 / The Times Mirror Company Sempra Energy just can't seem to get out of the hot seat. First there was the controversial 1998 merger between the parents of San Diego Gas & Electric and Southern California Gas, which created the Sempra Energy holding company and gave it more customers--21 million--than any other utility company in the nation. Now, although the calendar says autumn is less than a week away, warm weather still has Sempra sweating through a summer of electricity discontent. And winter doesn't look like much fun either for Sempra or its natural-gas customers, with residential gas bills projected to increase 30% to 35% without fueling anything above a strictly regulated rate of return for Sempra's gas utilities. Hanging over the San Diego-based energy company is a new uncertainty generated by the turmoil in California's restructuring electricity industry. Of particular concern to the investment community is a rapidly swelling debt caused by the difference between the high wholesale cost of electricity and the freshly capped retail power rates for the 1.2 million customers of San Diego Gas & Electric. Who will pay that debt--Sempra Energy's shareholders or SDG&E's electricity customers--and how big it will grow may not be known for years. The answer will hinge in part on an investigation of SDG&E's conduct by the California Public Utilities Commission. In the meantime, Sempra Energy, whose two utilities serve nearly 7 million gas and electricity meters representing about 21 million customers from Central California to the Mexican border, continues to post sparkling earnings largely because of its non-utility businesses. Sempra wants to be much more than its utilities, pushing into energy trading and electricity and natural-gas contracting outside of California. Indeed, Sempra has stressed that recent profit surges came not at the expense of its California utility customers. Consumer advocates are not persuaded, painting Sempra as a profit-hungry company that has not done enough to protect ratepayers. Despite all the tumult, Sempra's previously languid stock price has risen a bit this summer, a fact that appears to amaze even Stephen L. Baum, Sempra's new chairman and chief executive. "Maybe it's all the publicity we've been getting," he recently quipped, ruefully. It's a careful-what-you-wish-for proposition for Sempra Energy, which spent hundreds of thousands of dollars in the last two years to boost its corporate profile by, among other things, becoming a sponsor of Staples Center and rolling out a new logo that looks like a small flaming man. Now the corporation and its San Diego utility are puzzling over how to repair an image so scorched that angry residents in SDG&E's 4,200-square-mile territory covering the San Diego area and southern Orange County have taken to verbally and physically abusing company employees. "This has been an agonizing time for all of us," Baum told the Federal Energy Regulatory Commission at a hearing Tuesday that is part of an investigation into this summer's gyrations in the California wholesale electricity market. "SDG&E takes enormous pride in serving this community with safe and reliable electric service at, what were until recently, just and reasonable prices." Although regulators themselves, not to mention consumer advocates, warned of looming shortages in power supplies, no one predicted this summer of sky-high prices during which wholesale electricity prices jumped fivefold and bills doubled for SDG&E customers, the first in the country to pay free-market power prices. That produced a "Ratepayer Rebillion"--so dubbed by Michael Shames, executive director of the San Diego-based Utility Consumers Action Network, a longtime SDG&E sparring partner. The shock waves quickly reached utility regulators and state lawmakers, the architects of electricity deregulation , who are still scrambling for solutions. "SDG&E has become the corporate equivalent of the gang that couldn't shoot straight," Shames said. "They have the distinction of having the market blow up on them in a very visible way . . . and I'm quite convinced they didn't have a clue how customers were going to respond." This high-voltage atmosphere visited the San Diego area because SDG&E did such a good job selling its power plants, as required under deregulation . The 1996 law that launched the overhaul of California's electricity world broke the industry into three separate businesses: companies that make electricity, companies that distribute electricity and companies that sell electricity directly to consumers and businesses. SDG&E and the state's other big investor-owned utilities--Edison International unit Southern California Edison and PG&E Corp.'s Pacific Gas & Electric--lost their secure monopoly status. They were deemed to be electricity distribution companies only--though still monopolies in that segment of the business. The utilities handed over their long-distance transmission systems to a new nonprofit, the California Independent System Operator, and were required to buy their electricity from another new nonprofit, the California Power Exchange. The utilities remained the default provider for customers who didn't pick a new electricity retailer, but they were required to pass along the cost of electricity with no markup. Electricity rates for consumers and small businesses were frozen until the utilities paid off their "stranded assets"--investments in nuclear power and renewable energy contracts that became unprofitable under deregulation --or until March 2002. Rates are still frozen for SCE and PG&E customers, but SDG&E customers lost that protection in July 1999, after the San Diego utility sold its power plants to eager buyers who were willing to pay much more than book value. The rapid payoff surprised even regulators, who had developed no post-freeze rules. The California Public Utilities Commission allowed SDG&E to maintain a 12% ceiling on prices for the summer of 1999 and recoup any excess electricity costs later. Thanks to a cool summer and a smoothly functioning wholesale market, the ceiling was little employed. This summer, however, no ceiling was allowed by the PUC as part of its original post-freeze order, SDG&E executives said. And prices on the California Power Exchange began behaving strangely, spiking higher and higher even in the middle of the night when demand was low. San Diego-area electricity users began seeing "true market prices from a market that's dysfunctional," Baum said. "Of course I wish we had foreseen this market spike. We didn't." Consumer fury has been calmed somewhat by a new law that caps electricity prices for SDG&E residential and small-business customers at 6.5 cents a kilowatt-hour, compared with the 21.5-cent peak this summer. Who will eventually pay the electricity costs above the cap, currently collecting in a balancing account, is left unclear by the legislation. It could mean a big balloon payment for customers, or some of the costs could be shared by SDG&E if a PUC investigation finds that the utility didn't act in the best interests of its customers in buying electricity. A companion bill that would use $150 million in taxpayer funds to defray some of the costs passed the Legislature but has not been signed by Gov. Gray Davis. "I don't think that we did anything wrong," Baum said. "This is a bum rap that has been hung on us, on SDG&E, that we somehow mismanaged the power supply for our customers." PUC officials and consumer advocates have criticized SDG&E for not "hedging" more by buying ahead of time when prices are relatively low, for example. SDG&E said that it asked the commission for such authority but didn't get it. What's more, Baum said, SDG&E found better prices for its customers than did SCE or PG&E, even though they have broader hedging ability. SDG&E will have to borrow money to pay for the electricity, since ratepayers aren't paying the full cost. SDG&E says the under-collection of electricity costs could eventually top $800 million, whereas sponsors of the rate-cap bill put the total closer to $150 million. The future debt and the unsettled state of the deregulation process in California were the reasons given when Moody's Investors Service recently changed the credit outlook for Sempra and SDG&E to "negative." Shareholders can't be happy with Sempra's stock price, which fell from a high of about $28 a share right after the 1998 merger between Enova and Pacific Enterprises, which was loudly opposed by consumer advocates because of the market clout a merged company would wield, to a low of $16.63 in April. Sempra bought back 36.1 million shares at $20 each in February and lowered the stock dividend to $1 a share from $1.56 a share. The stock closed Friday up 14 cents at $20.14 on the New York Stock Exchange. Baum acknowledged that the company has lagged in return to shareholders, blaming that partly on a turning away by investors from utilities and other old-economy companies to Internet and other new-economy stocks. Sempra wants to be much more than its utilities and has made some promising inroads into unregulated areas, such as energy commodity trading, telecommunications, power-plant building and the sale of electricity and natural-gas to consumers and businesses in other states, Mexico, South America and Canada, analysts said. In fact, Sempra Energy Trading, which buys and sells electricity, natural gas, oil and coal, earned more money in the first quarter--$3 million--than in all of 1999. That subsidiary's $40 million in second-quarter earnings was primarily responsible for Sempra's better-than-expected income for the period of $110 million, or 55 cents a diluted share, up 34% from the second quarter of last year. Analyst Paul Fremont of Jefferies & Co., who has a "buy" rating on Sempra, notes that the trading company income will be volatile and that the other subsidiaries remain unknown quantities. "They've really got to have sustained growth in that [unregulated] part of the business because there's not a lot of growth in the utility part" in California, Fremont said. Sempra's earnings growth during this electricity furor has consumer advocates fuming even though company executives emphasized that electricity trading gains came from the East, not California. "Consumers don't need to feel sorry for this company," said Mindy Spatt, spokeswoman for the Utility Reform Network, also known as TURN, a San Francisco-based consumer group. Spatt noted that Sempra's new El Dorado power plant near Las Vegas "did very well" selling electricity in Nevada and California during most of the second quarter. "We don't think consumers should be responsible for the failures of deregulation , and we think that Sempra is in a much better position to pay for some of these costs than the average San Diegan," Spatt said. Sempra has had some problems in reaching beyond its California utility origins. One subsidiary, Energy America, which sells electricity and natural gas door to door in six Eastern states, has run afoul of regulators in two states because of aggressive sales tactics that prompted complaints from consumers. The company has been variously fined and ordered to retrain salespeople. Sempra is on track to reach its goal of reaping one-third of its earnings from its non-California businesses by the end of 2003 and to increase overall earnings by 8% to 10% compounded annually in the next four years, Baum said. That success is whipping up customer ire. "People tend to look at Sempra-SDG&E as a monolith. . . . People are saying, 'They're making a ton of money here. That company is doing very well. We're getting screwed, and we don't like it, and why should we have to pay for it?' " Baum said. "It's a very natural reaction. People don't understand, and they don't care to understand." One of SDG&E's immediate concerns is fixing relations with its customers. Baum said the utility recently polled customers and found that 9% considered it credible, down from 35% ("which is not much to brag about, but it's not bad in the utility business") before the electricity crisis. "I don't know that a corporation can do very well with a credibility rating of 9% on a sustained basis. That is something I worry about," Baum said. SDG&E President Debra L. Reed said most customers don't understand that the investor-owned utilities are now only distribution companies, despite a $90-million education campaign by the Public Utilities Commission. "They see our name on the bill and they think we're making money on the commodity," Reed said. "We have a lot of education to do with our customers. But we realize that it is probably not the best time to educate them in the middle of what they see as a crisis. . . . What we're trying to do is help them through this." (BEGIN TEXT OF INFOBOX / INFOGRAPHIC) Metering Sempra Energy Earnings are up at Sempra Energy, but the San Diego company is spiking on the controversy meter because of soaring bills for customers of its utilities, San Diego Gas & Electric and Southern California Gas. Sempra's name is not well-known, but its utilities serve 21 million people from the Central Valley to the Mexican border. (BEGIN TEXT OF INFOBOX / INFOGRAPHIC) Branching Out Sempra Energy also is pushing into other businesses, primarily outside of California: Sempra Energy Trading: Trades energy commodities Sempra Energy International: Develops and operates energy projects such as power plants and natural gas lines in international markets Sempra Energy Solutions: Markets electricity, natural gas and energy services to large electricity users Sempra Energy Resources: Develops or buys power plants and natural gas facilities in the United States Sempra Communications: Invests in telecommunications Sempra Energy Financial: Invests in affordable housing partnerships Source: Company reports PHOTO: Sempra's San Diego headquarters; ; GRAPHIC: Metering Sempra Energy, Los Angeles Times; Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved. Financial Is Another Energy Crisis Ahead?; Winter Fuel Costs Will Rise; After That, Nothing Is Certain Kenneth Bredemeier 09/17/2000 The Washington Post FINAL Page H01 Copyright 2000, The Washington Post Co. All Rights Reserved This winter the mailman will be delivering markedly higher heating bills throughout much of the country, including the Washington area. Those who use natural gas--the dominant heating fuel in the Washington area and throughout the United States--face a 27 percent increase. Heating oil customers, particularly in the Northeast where 35 percent of homeowners use the fuel to warm their houses, may have to pay more than $2 a gallon--twice the current price--as the days grow shorter and temperatures plunge. Motorists get hit in the wallet every time they pull into a service station: They now typically pay more than $1.60 a gallon for gas, and the days of 90-cent-a-gallon gas--yes, it was just last year--are but a distant memory. At least that's better than in England, France and Belgium where motorists are waiting in long lines to buy $4-a-gallon gas, only to find that some stations have run out. Is this the start of an energy crisis? Many energy analysts and government economists say not, that supplies of various forms of energy will prove sufficient over the next few months, but that the costs will continue to follow the law of supply and demand. When there's not an excess of a fuel available--and numerous types of fuel reserves are quite low--consumers will likely think the product costs too much, at least compared with the prices they've been accustomed to paying. But as winter approaches, several loosely connected events that spanned the globe over the past couple of years have heightened awareness of energy in our lives and reminded us of a lesson learned in the 1970s: Energy prices can be volatile, unpredictable and can reverberate throughout the economy. As Philip Verleger Jr., a partner with the Brattle Group, a Cambridge, Mass., economic consulting firm, concluded, "Consumers will have to spend more on energy. They will have less to spend on other things." On top of the triple-whammy of higher natural gas, heating oil and gasoline prices, consumers are also vulnerable to the vagaries of the electricity market because the industry has been in the midst of deregulation . While California and other states have struggled with power prices during the adjustment to the new competitive environment, electric utilities locally have maintained stability. Potomac Electric Power Co. says its 621,000 residential customers in the District and suburban Maryland--about 15 percent to 20 percent of whom heat their homes with electricity--will find their bills about 5.5 percent lower this winter, assuming they use the same amount of electricity as last year. Across the Potomac River,Dominion Virginia Power's customers in Northern Virginia are likely to see their bills stay about the same. Much of the current energy pricing is out of consumers' hands, analysts say, because the United States has chosen, to a large degree, to remain dependent on oil pumped out of distant lands controlled by OPEC nations. The 11-member Organization of Petroleum Exporting Countries agreed last weekend to increase its oil production by 800,000 barrels a day in hopes of pushing the price down to $28 or so. Even so, oil prices hit a new 10-year high on Friday, closing at $35.92 a barrel amid worries about tensions between Iraq and Kuwait. These are prices not seen since the days of the military buildup before the Persian Gulf War in November 1990. Analysts say that 21 months ago, when oil was below $10 a barrel and natural gas was at $2 per 1,000 cubic feet, drilling companies, many of which produce both fuels, began to curtail their exploration as a result of dwindling revenue. The OPEC nations cut their production at the time to force prices upward--and now they have more than tripled. Private exploration for more natural gas in the United States, chiefly in the Gulf of Mexico and several southern and southwestern states, only grew after drillers concluded that the demand was significant enough and they had sufficient capital to look for more. Peggy Laramie, spokeswoman for the American Gas Association, the natural-gas utilities' trade group, said the low price of gas at the time contributed to a feeling by producers that there was plenty of supply, so they cut back on drilling for about nine months, from August 1998 to April 1999. Fewer than 400 rigs were drilling at the time, although now that figure has topped 800. With little new natural gas exploration, the flow through the supply chain slowed, of course, even as demand increased in the United States, Europe and Asia. The result was predictable: Higher natural-gas prices at the wellhead and, over time, bigger bills for consumers. The $2 wellhead price has now risen to $5. Laramie said the last time wellhead prices were this high was in 1985. As Verleger said, "Demand was growing. We didn't pick up the supply and--whoops, there's a problem." In the Washington area, where perhaps 70 percent of all homeowners heat with natural gas, Washington Gas Light Co. estimates that its residential customers will see the typical monthly bill jump $26, to $112.50, in the November-to-April period, a 27 percent increase over last winter. Laramie said the gas utilities' trade group believes that with the renewed exploration, natural gas prices "will be moderating by spring, but we don't want to over-promise." The price of oil and its derivative products is expected to remain volatile, depending on a host of factors, including demand by consuming nations, the severity of the upcoming winter months after a string of three relatively mild winters, and how much more oil OPEC nations might decide to produce if prices stay high. This mix of factors leaves the analysts, OPEC and government economists using a lot of "ifs" and "buts" and "possibilities," but mentioning few certainties. OPEC President Ali Rodriguez predicted this past week that oil prices could reach $40 a barrel this winter, even if only for a relatively short time. "Crude oil prices are very high and will remain very high throughout the rest of the year," said John Lichtblau, chairman of the Petroleum Industry Research Foundation, which is funded by oil companies. In terms of gasoline, a shortage is unlikely, "but prices will be high," he said. "It can go back to $1.40 a gallon because of more production and lower crude prices. It won't start right now, maybe later this year or early next year." But with heating oil, he said, an unusually cold winter in the Northeast could bring about problems, given low inventories. "I don't see a shortage, but prices will be very high." Verleger was less certain. "We do have a problem," he said. "I think we're going to see high prices this winter for heating oil and natural gas. But I'm not certain about it. I'm not willing to go out and say it's going to be awful." With oil prices at record levels, President Clinton last week came under increasing pressure to tap the nation's Strategic Petroleum Reserve, nearly 570 million barrels of crude oil stashed at four sites in Louisiana and Texas. The reserve is intended for use in cases where the president determines there is a national supply emergency. High prices alone do not qualify. The White House says all options to combat the current low reserves of various fuels and high prices are under consideration. In the past, however, the oil reserve has been tapped to combat mechanical breakdowns in the oil industry's pipeline system or to trade lower-quality oil for a better grade. "If the Strategic Petroleum Reserve is released, that would knock $15 a barrel off the price," Verleger said. "One piece of news like that and this [crude oil price] will drop like a rock." At least for the winter months, electric utilities generally have found a way around the high price of oil and natural gas that some of them must use during peak-demand periods in the summer to generate electricity. They're able to focus their winter generation on cheaper fuels--coal, nuclear and hydroelectric power. "That's cheaper fuel and fuel that's less subject to the volatility of the world oil and world natural-gas markets," said Chuck Linderman, director of energy generation and supply policy for the Edison trade group. "Generally we're in good shape on supply." Contact: http://www.washingtonpost.com Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.

Steve: I have now heard back from both Louise and Andy and neither one will be available. Unfortunately, Mark has now left again and I am on my way out on vacation for a couple of weeks. It might make sense for you to contact Mark directly since you will be able to get to him before I can. Sorry about that. Mark SKramer@milbank.com 09/20/2000 11:25 AM To: mark.taylor@enron.com cc: Subject: FW: Energy Bar Program Mark, Just wanted to mention to you that if either Louise Kitchens, Andy Zipper or Mark Haedicke are interested in participating in the Energy Bar program but is not yet in a position to make a firm commitment, we can list the speaker as "invited" for the first mailing and then make any corrections that are necessary on a subsequent mailing that will be distributed.? Of course, the Bar Association would not list a speaker as "invited" without prior authorization.? Would it be possible to get back to me today on an EnronOnline speaker?? Thank you for taking the time out of your busy schedule to provide assistance. Steve -----Original Message----- From:?? Kramer, Steven Sent:?? Wednesday, September 20, 2000 12:23 PM To:???? 'mark.taylor@enron.com' Subject:??????? FW: Energy Bar Program Mark, Just wanted to mention to you that if either Louise Kitchens, Andy Zipper or Mark Haedicke are interested in participating in the Energy Bar program but is not yet in a position to make a firm commitment, we can list the speaker as "invited" for the first mailing and then make any corrections that are necessary on a subsequent mailing that will be distributed.? Of course, the Bar Association would not list a speaker as "invited" without prior authorization.? Would it be possible to get back to me today on an EnronOnline speaker?? Thank you for taking the time out of your busy schedule to provide assistance. Steve -----Original Message----- From:?? Kramer, Steven Sent:?? Friday, September 15, 2000 11:30 AM To:???? 'mark.taylor@enron.com' Subject:??????? Energy Bar Program Mark, I am not sure if you had a chance to contact Louise Kitchens or Andy Zipper regarding the Energy Bar Association program, but I just wanted to check.? If neither of them are available, has Mark Haedicke returned from travel?? If so, would you recommend that I give him a call. I know that you are very busy and greatly appreciate your assistance. Steve Steven M. Kramer Milbank, Tweed, Hadley & McCloy LLP International Square Building 1825 Eye Street, N.W. Washington, D.C. 20006 TEL:? 202-835-7508 FAX:? 202-835-7586 skramer@milbank.com This e-mail message may contain legally privileged and/or confidential information. If you are not the intended recipient(s), or the employee or agent responsible for delivery of this message to the intended recipient(s), you are hereby notified that any dissemination, distribution or copying of this e-mail message is strictly prohibited. If you have received this message in error, please immediately notify the sender and delete this e-mail message from your computer.

---------------------- Forwarded by Juan Hernandez/Corp/Enron on 09/25/2000 09:26 AM --------------------------- juan hernandez <purogallo@yahoo.com> on 09/22/2000 11:23:31 PM To: juan.hernandez@enron.com, christina.sanchez@enron.com cc: Subject: Alex Hernandez at 2-day The Hernandez Clan keeps getting larger. __________________________________________________ Do You Yahoo!? Send instant messages & get email alerts with Yahoo! Messenger. http://im.yahoo.com/ - Alexdrew.jpg - Myhomey.jpg - Family.jpg

In This Email: The Valentine's Day Countdown Has Begun Great Wines and Gifts Two Weeks to ZAP Mania Wine Team Picks The Valentine's Day Countdown Has Begun Although you might have gotten the impression the holidays were over, the most important day of the year for lovers is just around the corner. At wine.com, we believe that fine wine -- and the surrender to the senses that it invites -- is love, so in anticipation of the (more-rapidly-approaching-than-you-think) date of February 14, we've officially opened our Valentine Shop. In it, you'll find all kinds of romantic gift packages, suggestive sweets, personalized wine labels, and ... oh, yes, special wines from all over the world, arranged in amorous combinations. Browse the shop now, and you'll be sure to score a hit when V-Day arrives on your doorstep. To learn more about each item listed below, simply click on its name. _____________________________________________________________________ Great Wines and Gifts 1998 Ivan Tamas Zinfandel, Livermore Valley, California, $8.95 An outstanding, fruit-filled Zinfandel produced from old-vine grapes grown in Northern California's historic Livermore Valley. Intense raspberry and dark cherry fruit flavors with black pepper aromas; medium-bodied, with nice depth and concentration. 1997 Adella Zinfandel, Napa Valley, California, $14.99 A big mouthful of a Napa Zin that still offers supple smoothness and easy drinkability. The addition of Sangiovese and Syrah gives the wine extra body, depth, and flavor. A perfectly targeted Zinfandel that hits the palate right in the bull's-eye. Port and Chocolate Cigars, $30.00 This soothing tawny port from Tuke Holdsworth is a great way to take the chill out of a cool winter evening. Paired with luscious chocolate cigars, it inspires warm feelings all through the winter. Packaged on a sparkling silver plated bottle coaster. Romantic Duet, $35.00 When it comes to attractive matches, this international couple - a rich, toe-tingling French bubbly (originally blended for Czar Nicholas II of Russia) and a graceful, supple Napa Valley Merlot - is not only glamorous, but also harmonious. 1997 Sonora TC Vineyard, 'Old Vine Zinfandel', Sierra Foothills, $24.00 Big and foward in style with tons of intense fruit and firm tannins. Classic Sierra Foothills Zinfandel from a 90 year old vineyard. If Sonora's two Zins were singing in the choir, "TC Vineyard" would be singing baritone and "Story Vineyard" tenor. 1999 Left Bank Macon-Ige Vieilles Vignes, Burgundy, France, $12.00 Clean and direct, this friendly wine is sure to please anyone tired of oaky Chardonnay. Sold exclusively at the popular Left Bank restaurants in the San Francisco Bay Area and through wine.com, it's made in an easy-to-drink style, perfect for bistro food: big, soft, pale-straw in color, with aromas of green apple, hay, and lime. _____________________________________________________________________ Two Weeks to ZAP Mania Now is a time of year when Zinfandel lovers find themselves salivating even more profusely than usual. Such Pavlovian symptoms are observable with the approach of January 27, the date of the upcoming ZAP tasting in San Francisco. ZAP (Zinfandel Advocates and Producers) was formed by a group of impassioned wine producers in 1992 to raise awareness of Zinfandel and promote it as America's "native" wine. Like other members of the Vitis vinifera family, Zinfandel's origins lie somewhere in Europe, but nobody has been able to determine exactly where; DNA testing has shown the grape to be identical to the Primitivo of southern Italy, but it's documented in the United States earlier than it can be traced to Italy. Zinfandel has been grown and vinified in California since the mid-19th century, establishing it as America's contribution to the world of fine wine. While Zinfandel's fortunes have risen and fallen since its arrival in the New World 150 years ago, it's always been a grape and wine that inspired feverish loyalty. Now, as the 21st century commences, Zin seems to have it both ways: It's enjoying an unprecedented level of popularity and prestige, but its adherents still have the warm-and-cozy feeling of cult membership. This phenomenon is on lavish display at the annual ZAP tasting, a boisterous party that traditionally takes place on the Saturday before the Super Bowl. Certified in the Guinness Book of World Records as the world's biggest one-varietal wine tasting, the event attracted more than 200 wineries and 6,000 wine lovers last year. This time, for its 10th anniversary, it's being conducted in two different buildings at San Francisco's Fort Mason Center. Advance tickets cost $35 for ZAP members and $45 for non-members, with a limited amount available at the door for $50 on the day of the event. If you can't make it to the tasting, another easy way to sample the state of Zin is wine.com's selection of Zinfandel in all its forms and guises. _____________________________________________________________________ Wine Team Picks: Lisa Doenecke on Splashy Sparklers and Other Spritzy Delights This is probably one of my favorite categories, so my list came quickly and easily. Sparkling wine and Champagne can be enjoyed on any occasion, with no other reason than pure and simple pleasure. So indulge with these special treats!
Meyer-Fonne Cremant d'Alsace Brut Extra, France, $12.00
Dom. Chandon Fleur de Vigne, California, $14.00
Ayala Brut Champagne, France, $28.00
Nicolas Feuillatte 1er Cru Brut Champagne, France, $34.00
Laurent Perrier Ultra-Brut Champagne, France, $54.00 _____________________________________________________________________ TO UNSUBSCRIBE FROM THIS NEWSLETTER, go to: http://wine1.m0.net/m/u/vin/vv.asp?e=jdasovic%40enron.com

Dan Hyvl - we sent them a draft two/three weeks ago. From: Sara Shackleton on 04/20/2001 04:36 PM To: Kim Ward/HOU/ECT@ECT cc: Subject: RE: FW: Master purchase/sale agreement Kim: Mark Russell asked what lawyer will handle the gas master physical. Have you spoken with a physical lawyer yet? Sara Shackleton Enron North America Corp. 1400 Smith Street, EB 3801a Houston, Texas 77002 713-853-5620 (phone) 713-646-3490 (fax) sara.shackleton@enron.com ----- Forwarded by Sara Shackleton/HOU/ECT on 04/20/2001 04:35 PM ----- Kim Ward 04/20/2001 04:01 PM To: Sara Shackleton/HOU/ECT@ECT cc: Subject: RE: FW: Master purchase/sale agreement Sara, Attached is Salt River Projects ISDA attachments. I know that we have previously sent them our attachments (in 1999). Mark Russell of SRP will be contacting you to negotiate this agreement. I hope it is ok that I have him your name. Please let me know if there is anything that I can do to help and keep me posted on developments. Thanks! Kim ---------------------- Forwarded by Kim Ward/HOU/ECT on 04/20/2001 03:59 PM --------------------------- marussel@srpnet.com on 04/05/2001 05:28:19 PM To: <Kim.Ward@enron.com> cc: <marussel@srpnet.com> Subject: RE: FW: Master purchase/sale agreement I have attached our standard CSA and Schedule. Thanks. -----Original Message----- From: Kim.Ward@enron.com [mailto:Kim.Ward@enron.com] Sent: Thursday, April 05, 2001 9:13 AM To: marussel@srpnet.com Subject: Re: FW: Master purchase/sale agreement Mark, The best person to talk to about the ISDA is me. I discussed an ISDA with Tim Roberts when I was in the Salt River offices on March 23rd. A draft ISDA was sent to Bill Abraham on November 17, 1999. I requested for a new legal review on 3/28/01. Let me know if you need a new draft and I can send you or Tim a copy. My number is 713-853-0685. Thanks for your inquiry - Kim Ward marussel@srpnet.com on 04/05/2001 08:20:15 AM To: <Kim.Ward@enron.com> cc: <marussel@srpnet.com> Subject: FW: Master purchase/sale agreement I have been trying to get an ISDA going with Enron for several months. Who is the best contact to call? -----Original Message----- From: Kim.Ward@enron.com [mailto:Kim.Ward@enron.com] Sent: Friday, March 30, 2001 2:59 PM To: kaprice@srpnet.com Subject: Master purchase/sale agreement Kent, Attached is a draft copy of our Master Purchase/Sale Agreement for physical natural gas transactions. As I mentioned before, we can enter into transactions for less that one year out. However, for those outside of a year and for longer terms, we need to have a master in place. Hopefully, we can get this one in place so that we will be prepared when/if we get ready to transact. Let me know if you have any questions. I will have our legal guys standing by to help, too. Thanks, Kim Ward (See attached file: Master_NG_draft_contract.doc) (See attached file: Master_NG_draft_contract.doc) - 01101.sample credit annex isda.doc - 011101.sample isda schedule.doc

Team: Our objective is to define an action plan for each account and dedicate resources to implement the collection process. Regards, Brian Janet H Wallis 04/10/2001 01:12 PM To: Gary W Lamphier/HOU/ECT@ECT, Lee L Papayoti/HOU/ECT@ECT, Gerald Lofton/HOU/ECT@ECT, Michael C Bilberry/HOU/ECT@ECT, Daren Farmer cc: Brian Redmond/HOU/ECT@ECT, Bob M Hall/NA/Enron@Enron Subject: Bad Debt Please plan to attend a meeting with Brian Redmond and Bob Hall on Thursday at 4:00 in conference room 3567. Each person should be prepared to discuss the current status of each "Bad Debt" account that was assigned to them in February. If you are unable to attend you will need to schedule a private meeting with Brian Redmond at a later date. Janet

I am fine with your explanation as well. Is anyone complaining about only one person being able to view the info? Thanks. Lynn -----Original Message----- From: Dietz, Rick Sent: Tuesday, October 16, 2001 5:13 PM To: Berger, Larry; Blair, Lynn Subject: RE: NNG Flowing Gas Documents Thanks for the clarification, Larry. I don't think we need to meet to discuss this issue. I guess that I just misunderstood your initial message to imply that certain documents were still unaccessible to customers. I'm satisfied. Rick -----Original Message----- From: Berger, Larry Sent: Tue 10/16/2001 10:01 AM To: Blair, Lynn; Dietz, Rick Cc: Subject: RE: NNG Flowing Gas Documents Rick and Lynn, A customer can access all of NNG accounting documents( all invoices and their supporting documents). However, due to tighter security coding in Business Objects compare to Actuate, reports are now only viewable by one party, instead of two parties. For example, at a poi where there is an agent and an operator, the agent is only able to view the Measurement Info, Daily Volume Allocation and Allocation statements. IT is researching a fix to a situation like this. If you still would like to meet with me to explain further, give a demo (or have lunch meeting with just the three of us!), let me know. Thanks Larry -----Original Message----- From: Blair, Lynn Sent: Monday, October 15, 2001 6:30 AM To: Dietz, Rick; Berger, Larry; Garcia, Ava Subject: RE: NNG Flowing Gas Documents Ava, please coordinate with Alma a time Rick, Larry and I can talk about the flowing gas documents no accessible to customers. Thanks. Lynn -----Original Message----- From: Dietz, Rick Sent: Sunday, October 14, 2001 11:03 AM To: Berger, Larry; Blair, Lynn Subject: RE: NNG Flowing Gas Documents I am very glad to hear that the key documents are up, running and accessible. I would like to discuss the documents that the customers cannot access. I would like to totally focus on the new contract system on Monday so Tuesday would fit my schedule better. Rick -----Original Message----- From: Berger, Larry Sent: Friday, October 12, 2001 9:11 AM To: Dietz, Rick; Blair, Lynn Cc: Berger, Larry Subject: NNG Flowing Gas Documents Rick and Lynn, I just wanted to give you an official memo that the NNG Flowing Gas Documents are now online with both the Reservation, Commodity, Variance and Imbalance invoices and their supporting documents. NNG Customers are able to view both the Aug and Sep 2001 accounting month reports. The customer can also view the 5 original Flowing Gas documents (Contract Imbalance, Shipper Imbalance, Invoices (Reservation and Commodity only), Allocation, and Measurement Information) from May 2000 to Aug 2001 accounting months via a hyperlink to Actuate. During the next couple of months, I will still be working with the NNG reps and customers on various issues regarding the Flowing Gas reports: for instance, researching why the customer cannot access certain documents. I will also be meeting with Legale and IT weekly on enhancements to Flowing Gas that are needed. See me if you have questions. Larry

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 12/15/2000 05:06 PM --------------------------- KhairuddinBMJaafar@petronas.com.my on 12/12/2000 12:45:38 AM To: vkamins@ect.enron.com cc: Subject: Apology Dear Sir, I would like to apologize for the mistake in my previous email. Please find the copy of the letter mentioned earlier in this email. Again, I'm sorry for the inconvenience. Thank you. Yours sincerely, Khairuddin Jaafar (See attached file: Enron.lwp) DISCLAIMER : This e-mail and any files transmitted with it ("Message") is intended only for the use of the recipient(s) named above and may contain confidential information. You are hereby notified that the taking of any action in reliance upon, or any review, retransmission, dissemination, distribution, printing or copying of this Message or any part thereof by anyone other than the intended recipient(s) is strictly prohibited. If you have received this Message in error, you should delete this Message immediately and advise the sender by return e-mail. Opinions, conclusions and other information in this Message that do not relate to the official business of PETRONAS or its Group of Companies shall be understood as neither given nor endorsed by PETRONAS or any of the companies within the Group. (Embedded image moved to file: pic25324.pcx) - Enron.lwp - pic25324.pcx

It appears that we are close to resolving outstanding legal issues regarding the agreement to allow online bond trading through Buy Side Direct. Sheila, is your group the appropriate area to complete the Subscriber Application and Attachment 2 documents provided below ? We will also execute an agreement with Buy Side Direct's clearing firm (Weiss, Peck & Greer) which will direct them to clear our trades through the prime broker we designate. Sheila, I will leave you a paper copy of the preliminary version of this agreement. Is your group the appropriate area to complete the information this agreement requires on pages 7 and 8 - essentially, tax ID # and account # ? Eric / Tom, please handle any communication required with our prime broker required before we initiate trading on Buy Side Direct. Sara / Jason, please let me know if I am overlooking any other information that we will require from Sheila's group related to Buy Side Direct. (Approval from our Credit group is expected this week.) Thanks. Mike x39990 To: <Mike.Fowler@enron.com> cc: <jpeters@andrews-kurth.com>, <sara.shackleton@enron.com>, "Lisa@Buysidedirect. Com" <lisa@buysidedirect.com> Subject: RE: Enron-BuySideDirect Agreement I made the two remaining changes: 1. added limits on clearly erroneous policy time limits. We will promptly notify other side and will make a decision within 4 hours of the issue being raised or by 6PM whichever is sooner. 2. deleted first sentence from 5.4 I am still trying to get further resolution from WPG with regard to your insert #6. Please call with any questions. Regards, Mike 415-369-5016 ---------------------- Forwarded by Mike Fowler/Corp/Enron on 09/14/2000 08:13 AM --------------------------- "Michael Minnich" <minnich@imarkets.com> on 09/12/2000 07:00:10 PM Please respond to <minnich@imarkets.com> To: <mike.fowler@enron.com>, <jpeters@andrews-kurth.com>, <sara.shackleton@enron.com> cc: "Lisa@Buysidedirect. Com" <lisa@buysidedirect.com>, <minnich@imarkets.com> Subject: Enron-BuySideDirect Agreement I apologize for the delay. I made the changes as discussed except: 1. I did not put a limit on the Clearly erroneous policy--not because I didn't agree, but because I did not see an obvious answer in the Nasdaq agreement. I will look at it more tomorrow, but I wanted to get this to you rather than delay further. 2. Striking first sentence in 5.4--I have not heard back from our lawyers. Hopefully tomorrow. Also, I attach the broker dealer attachment 2 which you said you didn't have. I think we resolved most of your WPG questions. WPG is OK with all of your changes except Insert 6. I will try to get further resolution as to why they object so that you can negotiate further if you like. If all goes well, hopefully this can be wrapped up tomorrow. Regards, Mike ___________________________________________ BuySideDirect LLC a subsidiary of Intelligent Markets, Inc. 410 Jessie Street, Suite 602 San Francisco, CA 94103 (415) 369-5016 direct (415) 369-5020 sales (415) 369-5010 fax minnich@imarkets.com - Enron BuySideDirect Subscriber Application, Version August 25, 2000.doc - BuySideDirect Attachment 2.DOC

Carol St. Clair EB 3889 713-853-3989 (Phone) 713-646-3393 (Fax) carol.st.clair@enron.com ----- Forwarded by Carol St Clair/HOU/ECT on 04/24/2001 08:44 AM ----- Chris Long@ENRON 04/24/2001 08:33 AM To: Mark Taylor/HOU/ECT@ECT, Carol St Clair/HOU/ECT@ECT, Teresa G Bushman/HOU/ECT@ECT cc: Linda Robertson/NA/Enron@ENRON, Larry Decker/NA/Enron@Enron Subject: Bankrutpcy Update No. 79 Tuesday April 24, 2001 Page A-33 ISSN 1523-567X Regulation, Law & Economics BankruptcyDaschle Says Bankruptcy Reform Stuck As Party Roles in Conference Still in Limbo Bankruptcy legislation (S. 420/H.R. 333) that separately passed the Senate and House earlier this spring remains in limbo, as the Senate still cannot agree on how to proceed to conference with the House, Senate Minority Leader Thomas Daschle (D-S.D.) told reporters April 23. The question of party representation in conference continues to stall efforts to bring the issue of bankruptcy reform to a close. Democrats, who occupy half of the Senate's seats, are insisting upon equal representation in conference, while Republicans oppose it. Efforts to forego a conference with the House are unlikely to succeed given House leadership concerns about a number of controversial amendments the Senate made to S. 420 before passing it. In particular, many Republicans object to provisions opposed by President Bush that are intended to make it harder for debtors to shield assets by purchasing expensive homes in states that bar creditors from seizing the homes in bankruptcy auctions. "There has been no resolution yet," Daschle said. "I would say that I think both [Senate Majority Leader Trent Lott (R-Miss.)] and I and our staffs are working to try to resolve his concern, which is what do you do in a tie ... You know, I think what happens in a tie is [that] you just keep talking until you break the tie." Daschle said he is looking for an "opportunity to break through," but has yet to find one. Regardless, Daschle said he does not think "tie votes are all that big a problem, either in conference or in committee." With Daschle voting in the affirmative, the Senate March 14 approved 80-19 a cloture motion Lott filed late March 12. Sen. Paul Wellstone (D-Minn.), the bill's most outspoken opponent, argued passionately against cloture and Sen. Harry Reid (D-Nev.) foiled an attempt by Lott to secure unanimous consent to prepare the bill for a conference with House members after the bill passed the Senate March 15. In general, the bills aim to force more bankruptcy filers to file under Chapter 13, which requires some repayment of debts, instead of Chapter 7. The bills are a copy of last year's conference report worked out between the House and the Senate, which former President Clinton pocket-vetoed in December. Copyright , 2001 by The Bureau of National Affairs, Inc., Washington D.C.

TD {font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-weight: normal; color: black; } .myWxTitle {font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 10pt; font-weight: bold; color: white; } .myWxTitle1 {font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 9pt; font-weight: bold; color: black; } .myWxTitle2 {font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 9pt; font-weight: bold; color: 003399; } .drkWxTitle {font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 11pt; font-weight: bold; color: black; } .redWxTitle {font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-weight: normal; color: red; } .blueWxTitle {font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-weight: normal; color: blue; } .smallWxTitle {font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 8pt; font-weight: normal; color: white; } .smallDrkWxTitle {font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 9pt; font-weight: normal; color: black; } .categoryTitle { font-family: Verdana,Arial,Helvetica,Sans Serif; font-size: 10pt; font-weight: bold; color: black; } .bodyText { font-family: Arial,Helvetica,Sans Serif; font-size: 10pt; color: black; } .captionText { font-family: Arial,Helvetica,Sans Serif; font-size: 8pt; color: black; } .sectionTitle { font-family: Verdana,Arial,Helvetica,Sans Serif; font-size: 10pt; font-weight: bold; color: black; } [IMAGE] kim's weather for 12/28/2001 Update Profile | Unsubscribe [IMAGE] Local Outlook for Houston, TX 5 DAY FORECAST Hi Lo Today [IMAGE] Sunny 68?F 46?F Sat [IMAGE] Partly Cloudy 65?F 40?F Sun [IMAGE] Partly Cloudy 60?F 44?F Mon [IMAGE] Partly Cloudy 48?F 43?F Tue [IMAGE] Partly Cloudy 51?F 40?F [IMAGE] DETAILED FORECAST Today: Sunny. High near 68F. Winds NW 5 to 10 mph. Tonight: Clear. Low around 46F. Calm winds. Tomorrow: Partly cloudy. High around 65F. Winds N to NE 10 to 15 mph. Tomorrow night: Partly cloudy. Low near 40F. Winds N to NE 5 to 10 mph. [IMAGE] WEATHER HEADLINES The lake effect snow machine Michigan and Upstate New York reap the benefits of prolonged lake snows. [IMAGE] More details [IMAGE] MAPS Doppler Radar Maps Other Maps CURRENT CONDITIONS AND 10 DAY FORECAST Houston, TX Memphis, TN Houston, TX Dallas, TX IN THE SPOTLIGHT - Ski Features The powder is piling up! Introducing ski on weather.com... Want to know what the weather is like on your favorite ski slopes? Is the surface snow powdery, or is it packed? Want more information on the resort? Our newly revamped Ski section on weather.com features detailed local forecasts for ski areas worldwide with trail maps, web cams, and comprehensive resort details. It also includes our exclusive Ski Comfort Index, that helps you decide where and when will be best for skiing. Ski by it! weather.com/ski TRAVEL What role with weather play in your travel plans? Stay on schedule with up-to-the-minute flight information, or plan your next vacation. [IMAGE] Daily Traveler Rainy Weather Vacation Planner click to enlarge SITE LINKS For more information on additional topics choose from the following links: Home and Garden School Day Weather In Your Calendar You are receiving this e-mail because you requested The Weather Channel to send newsletters and announcements to you at kim.ward@enron.com. If you feel that you have received this message in error, or if you no longer wish to receive these messages, you can unsubscribe anytime. If you have any questions or concerns about how we use your personal information, please read our privacy policy . We welcome all feedback from our members, please send us your comments or questions. Copyright (c) 1995-2001, The Weather Channel Enterprises, Inc. [IMAGE]

I'll be sure to let you know how this week's interviews go. Larry Jester Enron Power Marketing Inc. Phone: 713-853-5266 Fax: 713-646-8272

How much time did you say you will have???? If you can get through a tenth of that in 5 minutes, you are much quicker than I! Also, in an amazing coincidence, your outline looks very similar to MKM's speech for the Canuck gas conference next week. Good job on both! DF Shelley Corman 02/02/2000 09:27 AM To: Mary Kay Miller/ET&S/Enron@ENRON, Robert Kilmer/FGT/Enron@ENRON, Ray Neppl/NPNG/Enron@ENRON, Drew Fossum/ET&S/Enron@ENRON, Dorothy McCoppin/FGT/Enron@ENRON, Janet Place/NPNG/Enron@ENRON, Mike McGowan/ET&S/Enron@ENRON, Susan Scott/ET&S/Enron@ENRON, Maria Pavlou/ET&S/Enron@ENRON, Glen Hass/ET&S/Enron@ENRON, Donna Fulton/Corp/Enron@ENRON, Teb Lokey/FGT/Enron@ENRON cc: Stanley Horton/Corp/Enron@Enron, Bill Cordes/ET&S/Enron@ENRON, Rockford Meyer/FGT/Enron@ENRON Subject: February 10 Meeting with Dan Larcamp and Team Lorraine Cross has invited me to participate in an "outreach meeting" with Dan Larcamp and his team on February 10. Also participating in the outreach meeting will be Williams (Judy Neason/Scott Turkington); El Paso (Peggy Heeg) and Coastal (Dan Collins). The meeting comes at Larcamp's request and is part of a series of outreach meetings that OMTR is having with other industry groups including producers, gas and electric utilities and marketers. The purpose of the meeting is not to discuss positions in the current gas NOPR (as OMTR is assuming that the Commission will take action on the gas NOPR in February). The purpose of the meeting is discuss how markets are changing and talk about upcoming regulatory issues. There will be no formal presentations or slides. Lorraine will give a 5 minute overview on INGAA's themes on regulatory policy (these theme's are per the Board of Directors' Task Force on FERC Policy): Competition Re-contracting challenges Rate discounting Each of the four participating companies will have 5 minutes to relate their pipeline experiences to these themes. I would propose to focus my remarks on topic of the continuous contracting state of the pipeline capacity market. The point is to tell Larcamp that we are not looking for a regulatory answer to this short-term, continuous contracting environment. What we are seeking is the rate and service flexibility we need to meet these challenges. Examples will be the new services flexibility that we continue to seek on TW (Enhanced Firm Backhaul, Limited Firm). And, the pricing changes we seek on NNG, including seasonal rates. Again, I don't plan to have any formal slides, but here is the outline of the message. I would also propose to add some specific examples/data on capacity release, recent auction experiences and re-contracting statistics. FYI: El Paso plans to talk about the role that negotiated rate transactions will increasingly play in the market place, citing their experiences in placing El Paso capacity and their negotiated rate contract extensions on Tenn/E. Tenn. Williams tentatively plans to talk about additional flexibility on offshore pipelines, about the need for more self-implementing flexibility, and the impacts of regulatory delay. Please let me know by Monday, February 7 is you have any concerns about the general direction of my remarks or about any other issues that you would have me bring up with Larcamp and team.

I hope you didn't spend a lot of time looking in the apartment for my eye makeup. I found what I lost this a.m. Thanks again. Maria

Everybody needs to send their picks by 2:00 Wednesday this week, the earlier the better. The lines for all games will be Sheridan's, as usual, in the wednesday edition of USAToday.

Tana: The following CPs are not authorized to trade US power: AFG Industries, Inc. - restricted by credit Cantera Resources, Inc. - restricted by credit ONEOK Energy Marketing and Trading Company, L.P. - not a current CP/not FERC approved Southern Connecticut Gas Co. - not a current CP/not FERC approved Leslie

Hey everyone, Just finished working my first full week at Deer Valley. The resort opened friday and from tues through sunday I worked with the other bakers to get items prepped and inventories stocked up for the mad rush of skiers expected over the weekend. I am enjoying working under the pastry chef at the lodge I am at. He is very dilligent about coming over and making sure you understand the how's and why's of the recipe you are making. His explanations are scientific when they need to be and straightforward when they don't need to be long and drawn out. I'm confident that I will learn a lot from the other chefs and bakers there as well. The first few days were very frustrating. There are a group of bakers, level 3's, who work at the lodge every winter and supervise the new bakers. There were a few tasks that I was assigned to do along w/ these level 3 bakers. We were cutting cakes in half and I was doing it the way Patrick always showed me and she said that I shouldn't do it that way ...to do it another way. Then one of the girls at my level with the $40k diploma from the CIA asked me if I had ever cut a cake before (like asking someone if they are retarded). I couldn't see straight I was so frustrated. Later, I was shaping baguettes..again..the way I learned...and the level 3 told me to do it another way...and that our boss Steve who studied bread could show me later since he knows so much. Well when he came over later ...he did it almost exactly the same way I did. There are lots of stories like this from those first few days. I had to bite my tongue a lot. One girl claims she can tell when bread is done proofing by looking at it...and doesn't have to touch it (why wouldn't you touch it..thats the best part). I might believe that from someone in their 40's but not a 20 something who has only been baking a few years. So I went home completely frustrated the first 3 days, but I had to remind myself that school was 2yrs ago for me and for many of these girls school was last month or a few months ago. We have a lot of people in the kitchen who hail from the CIA, which for those of you who might not know..it is a school that cranks out culinary grads for around $40,000 for the entire program. People keep asking me if I am doing my externship from the CIA......kind of like when I was at enron and people kept asking me if I was in the analyst/associate program...equally annoying. BUT, since I am dilligently learning to look at the bright side of everything...the good part about having all of these culinary school people around is that it makes the environment more professional and competitive...which in the long run is a great environment for me becauses it pushes me to be that much better than everyone else. And though I look at some of these 23yr olds who can technically do everything I can do at such a younger age...though I catch myself wishing I had done this a long time ago, I am glad I am doing this at a time in life when I have a ton more maturity and a vision of what I want to do with this experience. Today and tomorrow are my off days. For my friends who are living vicariously through me...yes I have been skiing and hopefully will get out there later on this afternoon. Tomorrow I have an interview with another bakery in town that I am considering working part time at. Hope everyone is well, especially my friends at ENE. Best! Mo. _________________________________________________________________ Get your FREE download of MSN Explorer at http://explorer.msn.com/intl.asp

Attached is the form of override letter to be executed at the same time as the GE facility agreement. It addresses accounting issues and lender requirements. I should have a final draft of the GE facility agreement later today. Kay

Sara, My contact is Fred Ritts at Brickfield, Bruchette, Ritts & Stone, PC 202.342.0800 Just in case you need to talk to someone directly. I will be out for just a little while, please call me on my cell if you need me immediately. 281.782.6397. Many thanks, Lucy

Dear Speaker at Gas & PoweRisk 2001! I just wanted to give you a little update on the developments of the preparations for the conference in November in Paris. We have now just launched the second round of marketing for the event, and bookings are coming in very nicely - it promises to be another exciting conference, and even bigger and better than last year's! For those who have not yet done so, I would like to remind you of the possibility to send us the names of contacts that you would like to get informed about your involvement in the event, and we will then make sure that they receive a conference brochure. To assure the highest level of confidentiality, you can also send these names to our third party mailing house instead, and we will guarantee you that we only use them for this one mailing. Furthermore, I would like to remind you to book your hotel room in Paris as soon as possible, should you not have done so already. The conference hotel is filling up very quickly, and we will only be able to hold rooms for you until the 28th September - so if you wish to stay in the conference hotel, please fax the booking form directly to the hotel as soon as possible to avoid disappointment. Also please remember that we require a copy of your presentation by Friday 12th October. Please make sure it gets to us in time, as it can otherwise not be included in the conference documentation pack, which in the past has been a constant source of complaints from our delegates. Thank you for your cooperation! I will attach the AV form and the marketing form - please send them back as soon as possible if you have not done so yet. This should not take more than 5 minutes of your time, but will help us assure a smooth running on the day. That's it for the moment - please contact either me or my colleague Natasha Woolf should you have any further questions! I look forward to seeing you in Paris in a few weeks' time! Kind Regards, Angelika Staude Director Gas & PoweRisk 2001 Tel: 0044 207 915 5675 Fax: 0044 207 915 5101www.icbi-uk.com/powerisk - marketing.doc - AV form1.doc - hotelbookingform.doc - PoweRisk 2001

Alert Posted 10:00 AM November 20,2000: E-GAS Request Reminder As discussed in the Winter Operations Meeting on Sept.29,2000, E-Gas(Emergency Gas) will not be offered this winter as a service from AGLC. Marketers and Poolers can receive gas via Peaking and IBSS nominations(daisy chain) from other marketers up to the 6 p.m. Same Day 2 nomination cycle.

Thanks for the names and numbers. I have just called and talked with Jonathan Beck and Jenia Nikolova; have left voice mail messages of congratulations for Jeremy Fitzpatrick, Matthew Olney, David Scott, Corrinn Sutton, and Thomas Underwood; and left a message with a roommate for Ryan White. I did not get an answer of any kind when I tried Thomas Lowell's number. He is the only one that I have not contacted at this point. I will try his number again before I leave tonight. --Sally Enron North America Corp. From: Lexi Elliott @ ENRON 10/18/2000 04:45 PM To: Mike McConnell/HOU/ECT@ECT, Sally Beck/HOU/ECT@ECT, James Scribner/Corp/Enron@Enron, Edward D Baughman/HOU/ECT@ECT, Tamara Hopkins/ET&S/Enron@ENRON, Patrick Wade/HOU/ECT@ECT, Mark McConnell/Enron Communications@Enron Communications, Eric Moon/HOU/ECT@ECT, Stephen Plauche/Corp/Enron@Enron, Angie Zeman/Corp/Enron@ENRON, Justin O'Malley/HOU/EES@EES, Jody Crook/Corp/Enron@ENRON, Patrick Maloy/HOU/ECT@ECT, Rafael Avila/HOU/EES@EES, Nate Blackburn/NA/Enron@Enron, Shona Wilson/NA/Enron@Enron, Tana Cashion/NA/Enron@ENRON, Steve Venturatos/HOU/ECT@ECT cc: Cathy Phillips/HOU/ECT@ECT, Patti Thompson/HOU/ECT@ECT, Donna Jones/HOU/ECT@ECT Subject: OU Super Saturday Candidates Dear OU Team Members and Interviewers: Thank you for your time and help this recruiting season. While there is still much to do, we are now to the point where we will soon begin to reap rewards! After last week's interview process, we have selected 9 candidates to invite to the November 4th Super Saturday. Those candidates are: 1. Jonathan Beck (405/579-8594) 2. Jeremy Fitzpatrick (405/447-6144) 3. Thomas Lowell (405/573-1103) 4. Jenia Nikolova (405/325-9435) 5. Matthew Olney (405/360-0311) 6. David Scott (405/812-5538) 7. Corrinn Sutton (405/292-7881) 8. Thomas Underwood (405/292-1108) 9. Ryan White (405/292-1470) I personally called each candidate today to invite them to Super Saturday. Their formal letters will be sent later in the week. Our next step will be to cultivate these candidates. I will be assigning a candidate to selected team members next week for cultivation calls. In the mean time, please feel free to call and congratulate them (just please let me know who you call so no one is left out!) Thanks again for your dedication! lexi 3-4585

TASK ASSIGNMENT Status: completed Task Priority: Task Due On: Task Start Date: Meet with Richard to create format Call Louise to get process started

Holden, let me know if you want to sign up for this fantastic opportunity. -----Original Message----- From: Heizenrader, Tim Sent: Thursday, November 15, 2001 11:13 AM To: Swain, Steve; Gilbert, Scotty; Steiner, David; Williams III, Bill; Semperger, Cara; Amador, Susan; Thomas, Jake; Mainzer, Elliot; Alonso, Tom; Badeer, Robert; Belden, Tim; Crandall, Sean; Driscoll, Michael M.; Fischer, Mark; Mallory, Chris; Motley, Matt; Platter, Phillip; Richter, Jeff; Salisbury, Holden; Scholtes, Diana; Swerzbin, Mike Subject: FW: Visual Basic Class Anybody have candidates for this? Tim -----Original Message----- From: SCHILMOELLER, Michael Sent: Thursday, November 15, 2001 10:39 AM To: Boo Seng-Aroun; Dieterle, Chris; NIMAN, MIKE; Oshea, Mike; Ichikawa, Shinya Cc: Heizenrader, Tim Subject: Visual Basic Class A Developmentor manager has an introductory VB class locally that he is trying to fill. I took a COM+/2000 class from them in December, and they are first class. How many of us would be interested (no commitment at this point)? I believe this is Developmentor's 12/3 one-week course (see <http://www.develop.com/dm/course.asp?id=10>) It ordinarily goes for $1800 per person. Mike N, can you give me some guidance regarding how much cost per person or how much cost total you would be prepared to pay. Again, he is trying to fill up a class that is about to be cancelled, and I think he would be willing to negotiate. Tim, would you or anyone on your floor have any interest in this? Michael

Today we announced the appointment of Jeff McMahon as Enron's chief financial officer. In my continued discussions with the financial community yesterday and today, it became clear that this move was required to restore investor confidence. Jeff has unparalleled qualifications and a deep and thorough understanding of Enron. He is already on the job and hard at work on the issues before us. Andy Fastow will be on a leave of absence from the company. Jeff had been serving as chairman and CEO of Enron Industrial Markets. He joined Enron in 1994 and spent three years in the London office as chief financial officer for Enron's European operations. Upon returning to the U.S., Jeff was executive vice president of finance and treasurer for Enron Corp. In 2000, he was named president and chief operating officer of Enron Net Works. I know all of you are concerned about the continuing decline in our share price. I am too, and we are working very hard to turn it around. Appointing Jeff as CFO is one important step in that process. But most of the solution involves just continuing to do our jobs with excellence. The fundamentals of our business are strong, and I think the market will begin to see that as we continue to perform. Please join me in giving Jeff your full support, and thank you for all of your continued hard work.

No I don't get this newsletter. -----Original Message----- From: Carter, Karen E. Sent: Monday, August 27, 2001 5:52 PM To: Causholli, Monika Subject: FW: Pulpex Weekly no. 191 Monika, Do you receive this newsletter from the Pulpex? KC -----Original Message----- From: Marilene Listrom [mailto:marilene.listrom@omgroup.com] Sent: Friday, August 24, 2001 10:39 AM To: Marilene Listrom Subject: Pulpex Weekly no. 191 (See attached file: PulpexWeekly_191.pdf)(See attached file: Pulpex_Broker_ List2.doc) This file can be read using Adobe Acrobat Reader It is also available in a *.rtf format. If you prefer to receive the bulletin in this format, please advise me by return email.

ask her to let us know the outcome of the conversation tomorrow asap. thanks -----Original Message----- From: Botello, Mary Sent: Monday, October 08, 2001 5:34 PM To: Geaccone, Tracy Subject: FW: Allocations in the 2002 Plan Importance: High -----Original Message----- From: Linnell, Elizabeth Sent: Monday, October 08, 2001 5:33 PM To: Botello, Mary Subject: RE: Allocations in the 2002 Plan Mary - Regarding the 100883 and 1000222, Mike Terraso will be meeting with Mr. Horton tomorrow. Regarding 140196, I've attached below the description of the group. Additionally, John Brindle, the cost center owner, mentioned that both Mr. Horton and Phil Lowry are aware of the group's activities and costs. Please let me know if you need anything further. Regards, Elizabeth Business Controls is responsible for corporate security, including personnel, physical and technical security matters. This involves conducting investigations, setting policies and procedures and working with appropriate security elements within the business units. The group also coordinates and facilitates Enron's crisis response efforts. Finally, it provides business intelligence on selected issues to senior management. -----Original Message----- From: Botello, Mary Sent: Friday, October 05, 2001 5:05 PM To: Linnell, Elizabeth Subject: Allocations in the 2002 Plan Elizabeth, In the Corp. allocations there are 410,000 dollars budgeted to ETS for cc 100883. Mr. Horton has an agreement that none of the costs from this cc shall be assessed to any of the pipes in ETS. Please have these costs removed from your allocation to ETS. Thank you. Also, can you provide me some information regarding the costs for cc 100222, Gov't Affairs Environment and cc 140196, Business Controls. We are meeting with Mr. Horton next week and would like to provide him some explanation of the work that makes up these costs. If you could respond by Tuesday, Oct. 9, that would be very helpful. Thank you. Mary

Gary, would you please send me by email the telecommuting policy and the agreement for telecommuters? Thanks a lot. Michelle

Hello, does any one have an alternative phone number for Samantha Boyd? and if so, can you pass it on to Mary Cook and/or Mark Taylor. There may be a new problem with the number listed below. Kaye, I know that Erica may have it but I do not have the correct spelling of her last name. Can you find out for Mary? Cheryl Nelson Senior Counsel EB3816 (713) 345-4693 ----- Forwarded by Cheryl Nelson/NA/Enron on 03/29/2001 03:30 PM ----- Keegan Farrell 03/19/2001 02:33 PM To: Nony Flores/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Robert Bruce/NA/Enron@Enron, Mary Cook/HOU/ECT@ECT, Angela Davis/NA/Enron@Enron, Brent Hendry/NA/Enron@Enron, Anne C Koehler/HOU/ECT@ECT, Cheryl Nelson/NA/Enron@Enron, Frank Sayre/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sara Shackleton/HOU/ECT@ECT, Carol St Clair/HOU/ECT@ECT, Francisco Pinto Leite/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Susan Bailey/HOU/ECT@ECT, Samantha Boyd/NA/Enron@Enron, Tana Jones/HOU/ECT@ECT, Stephanie Panus/NA/Enron@Enron, Becky Spencer/HOU/ECT@ECT, Taffy Milligan/HOU/ECT@ECT, Kaye Ellis/HOU/ECT@ECT, Esmeralda Gonzalez/ENRON@enronXgate, Pat Radford/HOU/ECT@ECT, Janette Elbertson/HOU/ECT@ECT cc: Subject: Contact Information for Samantha Boyd Samantha Boyd can be reached by the following: 281-893-8693 (unlisted) 12315 Wilde Laurel Ln Houston, TX 77014 If anyone should need ANY assistance, please do not hesitate to contact me at x5-3317. Thank you for your attention to this matter.

" To dream anything that you want to dream - that is the beauty of the human mind. To do anything you want to do - that is the strength of the human will. To trust yourself to test your limits - that is the courage to succeed." " Embrace hard things and your mind will blossom." "This is America ENRON. We can do anything here." -- Ted Turner Sunil Dalal "Finish each day and be done with it. You have done what you could; some blunders and absurdities have crept in; forget them as soon as you can. Tomorrow is a new day; you shall begin it serenely and with too high a spirit to be encumbered with your old nonsense." -Ralph Waldo Emerson "To laugh often and much; to win the respect of intelligent people and the affection of children; to earn the appreciation of honest critics and endure the betrayal of false friends; to appreciate beauty, to find the best in others; to leave the world a little better; whether by a healthy child, a garden patch or a redeemed social condition; to know even one life has breathed easier because you have lived. This is the meaning of success." -Ralph Waldo Emerson

Let's talk. -----Original Message----- From: Barbarawi, Moe Sent: Tuesday, November 13, 2001 3:40 PM To: Edison, Andrew Cc: Sarkissian, Arshak Subject: Akamai accelerated.xls Andrew, per Arshak's request I am sending you the attached spreadsheet for your review. please give me a call when you have a minute so we can go over what Arshak wants to accomplish. Arshak is looking to have an addendum to the original Akamai contract to reflect the accelerated payment schedule according to the spreadsheet. please keep in mind that the start/end dates might change Thanks Moe 713-853-9395

Christian, I received your email when I got back this morning. Yes I had a great holiday. Hopefully yours was the same. Our Credit group has agreed to changing the collateral threshold from 10MM to 15MM for both parties. Please make that change in the contract in section 4.5 in each of the places where 10MM is located, print 2 originals of each, have them signed, and forward to me for further handling with Enron North America Corp. "Pfister, Christian W." <CWPfister@cps-satx.com> 01/02/2001 11:31 AM To: "'Dan.J.Hyvl@enron.com'" <Dan.J.Hyvl@enron.com> cc: Subject: FW: FW: FW: Enfolio Contract with CPS Mr. Hyvl, Happy New Year! Hope you enjoyed the holidays. Did you have a chance to see if we could raise the threshold of $10 million for a Letter of Credit? (see message below) -----Original Message----- From: Pfister, Christian W. Sent: Monday, December 18, 2000 1:58 PM To: 'Dan.J.Hyvl@enron.com' Subject: RE: FW: FW: Enfolio Contract with CPS I agree. The Accounting Dept. informed me that there are two days that sometimes land on the 25th that CPS considers a holiday. One is the day after Thanksgiving and the other is during Fiesta for the Battle of Flowers Parade. I requested that they just pay a day early if the 25th lands on one of these CPS holidays. I have one more request, however. In 4.5. Collateral Requirement/Termination Payment Threshold, could you raise the threshold of $10 million for a Letter of Credit to $15 or $20 million (whatever you feel comforable with)? -----Original Message----- From: Dan.J.Hyvl@enron.com [mailto:Dan.J.Hyvl@enron.com] Sent: Friday, December 15, 2000 5:57 PM To: CWPfister@cps-satx.com Cc: Janet.H.Wallis@enron.com Subject: Re: FW: FW: Enfolio Contract with CPS Christian, I believe this is covered because the language states that if the 25th is not a Business Day, the payment will be due the next Business Day. Business Day is a defined term as a day when the Federal Reserve Banks is New York are open for business. I cannot agree to a Customer's Business Day because it is not a defined term and may differ from the standard definition of Business Day. Therefore that change should not be incorporated. Do you agree? "Pfister, Christian W." To: "'Dan.J.Hyvl@enron.com'" <CWPfister@cps <Dan.J.Hyvl@enron.com> -satx.com> cc: Subject: FW: FW: Enfolio Contract with CPS 12/15/2000 05:48 PM Mr. Hyvl, There was one change that you did not make that I requested. It was difficult to tell since only a single word was bolded. APPENDIX "1" FINANCIAL MATTERS BILLING, INVOICE DATE, CHARGES AND PAYMENT "Buyer shall remit any amounts due on the 25th day of the Month in which Seller's statement was received. If the due date for any payment to be made under this Agreement is not a Customer's Business Day, the due date for such payment shall be the following Customer's Business Day." There are very few instances where our Business Day would be different from your business day. However, as an example, the day after Thanksgiving is a CPS holiday. This year, we had a gas payment due on that date which we sent on the following Monday. This is probably the only holiday CPS has that your company may not have. -----Original Message----- From: Dan.J.Hyvl@enron.com [mailto:Dan.J.Hyvl@enron.com] Sent: Friday, December 15, 2000 4:57 PM To: CWPfister@cps-satx.com Subject: RE: FW: Enfolio Contract with CPS Christian, Attached is the modified contract with the changes you requested. Please print off 2 originals and have them signed. Please fill in the purchase order number information on the invoices section of Exhibit A. If the number is not available, them please delete the information requiring the number from the billing and payment provision. Forward the signed copies to me or Janet Wallis and we will proceed with execution by ENA. (See attached file: CITYPublicServiceSanAntonio.doc) "Pfister, Christian W." To: "'Dan.J.Hyvl@enron.com'" <CWPfister@cps <Dan.J.Hyvl@enron.com> -satx.com> cc: Subject: RE: FW: Enfolio Contract with CPS 12/15/2000 04:16 PM Unfortunately, we don't have a purchase order issued yet so I can't give you a number. I know that would make it easier for you guys, but I don't think we can issue one until right before the first gas purchase. First, a purchase requisition needs to be issued. Then, a purchase order will be released following approvals by the various individuals authorized to sign off on them. -----Original Message----- From: Dan.J.Hyvl@enron.com [mailto:Dan.J.Hyvl@enron.com] Sent: Friday, December 15, 2000 4:13 PM To: CWPfister@cps-satx.com Cc: Janet.H.Wallis@enron.com Subject: RE: FW: Enfolio Contract with CPS Christian, If the purchase order number will be the same for all deals under the contract, can you give me the number so that I can include it as a part of your address for Invoices. (See attached file: CITYPublicServiceSanAntonio.doc)

Rick, Attached is the spreadsheet that contains the EI-Headquarters capital deployed as of June 2001. Let me know if you need anything else. Thanks, Rob Rob Brown Manager, Enron Corp. Financial Accounting & Reporting Off. 713.853.9702 Cell 713.303.4497 rob.brown@enron.com

FYI. ---------------------- Forwarded by Rod Hayslett/FGT/Enron on 12/20/99 06:39 AM --------------------------- From: John Ballentine 12/19/99 02:06 PM To: Rod Hayslett/FGT/Enron@ENRON cc: Tom Sherrier/FGT/Enron@ENRON Subject: First Glance Comparison of CitrusNet Offers Rod, please find the enclosed first glance comparison of the El Paso offer. Please fwd this to Rock and Mike Moran after you have read it. As it turned out, I got diverted to my PNet meeting in Las Vegas, and I plan to be out of here by mid Monday afternoon. I will call you early Monday morning to discuss this memo and the offer. Lets plan on an early Tuesday meeting with Stan/Rock/Mike/you and I? Your call.

I just bought the nancy drew collection on Ebay. I would like to pay with my VISA. My phone number is 713-853-7151 during the day and 281-579-8195 in the evening.

FYI, all new deals that are at NGPL/Nipsco, need to be in sitara at Nipsco/NGPL. Please shout with any questions. PL ---------------------- Forwarded by Phillip M Love/HOU/ECT on 01/23/2001 08:56 AM --------------------------- From: George F Smith 01/23/2001 08:08 AM To: Phillip M Love/HOU/ECT@ECT cc: Cora Pendergrass/Corp/Enron@ENRON, Margie Straight/HOU/ECT@ECT, Jason Williams/HOU/ECT@ECT, Patrice L Mims/HOU/ECT@ECT Subject: NGPL Nipsco Phillip, Please move the following two deals from their current location, NGPL/Nipsco, to a new location Nipsco/NGPL. We are setting up Nipsco as it's own pipeline so as to better track positions. Please make the change effective Feb. 1. Thanks, George

FYI. Good article that Vance Meyer worked on for Net Works. Kal -----Original Message----- From: Meyer, Vance Sent: Friday, October 05, 2001 6:39 PM To: Denne, Karen; Gagliardi, Larry; Haux, Katrin; Ambler, John; Palmer, Mark A. (PR); Philipp, Meredith; Piper, Greg; Richter, Brad; Shah, Kal; Beck, Sally; Noland, John; Pickering, Mark Subject: Darwin 50 article http://www.darwinmag.com/read/100101/power.html Pls see article in Darwin. EOL still has the juice! Vance

Katherine Brown 06/20/2000 01:07 PM To: James M Bannantine/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Cliff Baxter/HOU/ECT@ECT, Sanjay Bhatnagar/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rick Buy/HOU/ECT@ECT, Richard Causey/Corp/Enron@ENRON, Diomedes Christodoulou/SA/Enron@Enron, David W Delainey/HOU/ECT@ECT, James Derrick/Corp/Enron@ENRON, Andrew S Fastow/HOU/ECT@ECT, Peggy_Fowler@pgn.com, Mark Frevert/NA/Enron@Enron, Ben F Glisan/HOU/ECT@ECT, Kevin Hannon/Enron Communications@Enron Communications, David Haug/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Joe Hirko/Enron Communications@Enron Communications, Stanley Horton/Corp/Enron@Enron, Kurt S Huneke/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Larry L Izzo/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Steven J Kean/HOU/EES@EES, Mark Koenig/Corp/Enron@ENRON, Kenneth Lay/Corp/Enron@ENRON, Rebecca P Mark/HOU/AZURIX@AZURIX, Mike McConnell/HOU/ECT@ECT, Rebecca McDonald/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jeffrey McMahon/HOU/ECT@ECT, J Mark Metts/NA/Enron@Enron, Cindy Olson/Corp/Enron@ENRON, Lou L Pai/HOU/EES@EES, Ken Rice/Enron Communications@Enron Communications, Jeffrey Sherrick/Corp/Enron@ENRON, John Sherriff/LON/ECT@ECT, Jeff Skilling/Corp/Enron@ENRON, Joseph W Sutton/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Greg Whalley/HOU/ECT@ECT, Thomas E White/HOU/EES@EES, Brenda Garza-Castillo/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Marcia Manarin/SA/Enron@Enron, Susan Skarness/HOU/ECT@ECT, Stacy Guidroz/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Beena Pradhan/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Karen K Heathman/HOU/ECT@ECT, Sharron Westbrook/Corp/Enron@ENRON, Kay Chapman/HOU/ECT@ECT, Molly Bobrow/NA/Enron@Enron, Rosane Fabozzi/SA/Enron@Enron, Stephanie Harris/Corp/Enron@ENRON, Bridget Maronge/HOU/ECT@ECT, Mary_trosper@pgn.com, Nicki Daw/NA/Enron@Enron, Inez Dauterive/HOU/ECT@ECT, Carol Ann Brown/Enron Communications@Enron Communications, Elaine Rodriguez/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Nancy Young/Enron Communications@Enron Communications, Ann Joyner/Enron Communications@Enron Communications, Cindy Stark/Corp/Enron@ENRON, Sherryl Stone/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mary E Garza/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Maureen McVicker/HOU/EES@EES, Joannie Williamson/Corp/Enron@ENRON, Rosalee Fleming/Corp/Enron@ENRON, Vanessa Groscrand/Corp/Enron@ENRON, Marsha Lindsey/HOU/AZURIX@AZURIX, Cathy Phillips/HOU/ECT@ECT, Loretta Brelsford/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sue Ford/HOU/ECT@ECT, Dolores Fisher/NA/Enron@Enron, Karen Owens/HOU/EES@EES, Dorothy Dalton/Enron Communications@Enron Communications, Jewel Meeks/Enron Communications@Enron Communications, Christina Grow/Corp/Enron@ENRON, Lauren Urquhart/LON/ECT@ECT, Sherri Sera/Corp/Enron@ENRON, Katherine Brown/Corp/Enron@ENRON, Pam Benson/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jana Mills/HOU/ECT@ECT, Liz M Taylor/HOU/ECT@ECT, Judy G Smith/HOU/EES@EES, Bobbie Power/Corp/Enron@ENRON cc: Joe Witherspoon/Corp/Enron@ENRON, Suzanne Danz/Corp/Enron@ENRON, VideoconfeRence@enron, Vanessa Groscrand/Corp/Enron@ENRON Subject: EXECUTIVE COMMITTEE MEETING - MONDAY, JUNE 26, 2000 Executive Committee Weekly Meeting Date: Monday, June 26 Time: 11:00 a.m. (CDT) Location: 50th Floor Boardroom Video: Connections will be established with remote locations upon request. Conf call: AT&T lines have been reserved. Please contact Sherri Sera (713/853-5984) or Katherine Brown (713/345-7774) for the weekly dial-in number and passcode. Please indicate below whether or not you plan to attend this meeting and through what medium. Yes, I will attend in person _______ By video conference from _______ By conference call _______ No, I will not attend __XX_____ * * * Please return this e-mail to me with your response by 12:00 p.m., Friday, June 23. Thank you, Katherine

Deal 386264 has a start date of 9/1/00. D Mary Poorman@ENRON 10/30/2000 04:02 PM To: Daren J Farmer/HOU/ECT@ECT cc: Pat Clynes/Corp/Enron@ENRON Subject: Sale to Rhone Poule meter 988078 I have a sale at the above referenced meter which begins on the 5th of October. Gas flowed for the first four days without a deal. Please input a deal to cover. Thank you, Mary

I'd told my theory to my friend Linda, who wanted to be a social scientist and was always coming up with theories herself. I'd concluded that breasts were to sex what pillows were to sleep. "Guys might think they want a pillow, but they'll sleep just as well without one." She'd said, "Guys will sleep anywhere if they're really tired."

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 06/02/2000 02:25 PM --------------------------- Daniel Diamond 06/01/2000 07:25 PM To: Kevin M Presto/HOU/ECT@ECT, John L Nowlan/HOU/ECT@ECT, Alan Engberg/HOU/ECT@ECT, Douglas S Friedman/HOU/ECT@ECT, Craig Breslau/HOU/ECT@ECT, George McClellan/HOU/ECT@ECT, Kevin McGowan/Corp/Enron@ENRON, Edward D Baughman/HOU/ECT@ECT, Paul Racicot/Enron Communications@Enron Communications, Ed Quinn cc: Vince J Kaminski/HOU/ECT@ECT, Edward Ondarza/HOU/ECT@ECT Subject: EnronOnline Phase 2 requirements This is just a reminder of some of the items that we discussed. Feel free to give me a call if you have further questions. Thanks Again, -Dan

Attached is the Assignment/Termination/Expiration Report for the month of May 2001. If you no longer wish to be on this distribution or know of someone that should be added, please let me know. Thanks, Linda

Here are the final Lay slides for Montreal. - ROB ---------------------- Forwarded by Rob Bradley/Corp/Enron on 05/23/2000 08:43 AM --------------------------- Shant Donabedian 05/22/2000 06:35 PM To: Andrew Miles/HOU/EES@EES, Rob Bradley/Corp/Enron@ENRON cc: Subject: Ken Lay Presentation - Final Shant Donabedian

* from Reg Affairs House backs 15-month delay in electric deregulation law By CHARLES E. BEGGS Associated Press Writer May. 24, 2001 Associated Press Newswires Copyright 2001. The Associated Press. All Rights Reserved. SALEM, Ore. (AP) - The Legislature on Thursday took its biggest step so far toward delaying partial deregulation of business electricity rates when the House voted for an 18-month postponement. A bill passed by a 48-11 vote would put off from Oct. 1 to at least March 31, 2003, the effective date of a law allowing the large business customers to buy power on the open market. The bill goes to the Senate, where some changes are expected. The law, passed in 1999, doesn't change regulation of electricity rates for homes and small businesses The law would permit largest business and industrial customers of Portland General Electric and PacifiCorp, the state's two largest privately owned electric utilities, to seek electricity on open markets. Backers of the delay say California's failed deregulation plan and uncertain hydropower supplies because of the Northwest's drought, likely leading to rising power prices, argue for postponing the change. "This gives us a better chance to look at where Oregon is going," said Rep. Rob Patridge, R-Medford. "There are many uncertainties" about the Oregon law, he said. An 18-month delay would put the issue back before lawmakers in their next session, which would begin in January 2003. House Speaker Mark Simmons, R-Elgin, said he expects the Senate will push for a shorter deferral. Foes of the bill claimed it will not hold down rates and will only make the situation worse. Rep. Bill Witt, R-Portland, said the problem is a lack of power supply to meet growing demand and that the measure "chills investment in new capacity. "We are sending a clear signal that you can't do business in Oregon" because the rules are uncertain, he said. Witt said the deregulation law was well crafted and doesn't contain the flaws that contributed to California's problems such as requirements forcing utilities to sell off generating plants. However, Rep. Robert Ackerman, D-Eugene, said the chaotic power market has created fear among businesses, nonetheless, and that some estimate they would face fourfold power increases in an unregulated market. Delay supporters said lawmakers are taking steps to stimulate more power production including passing a bill to streamline siting of temporary generating plants, which Gov. John Kitzhaber has signed.

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