QUESTION: As you have probably observed, power markets have been severely tested this summer. There are many underlying causes (demand growth driven by a strong economy, failure of regulators to quickly grant applications for new generation, inadequate access to the grid, rate regulation which continues to insulate end users from real time price signals, etc.). But, the soundbite on these troubles has been that deregulation has led to problems on the grid. The knee jerk policy response has been price caps and other threats of re-regulation. At the upcoming advisory council meeting, Ken and I were hoping that the two of you could discuss the issue and help put it in perspective: How great of a threat is re-regulation. How might we respond. How likely is this issue to play a significant role in election politics?
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ANS: Upcoming Advisory Council Meeting

QUESTION: Attached please find revisions per our conference call. Excluding all but one, we made Enfolio changes proposed by Michael. Our only deviation was to delete article 4.2, sec vii, re: MAC. Based on your QUICK feedback, we will send execution documents electronically so Janet can initial. Please call me at Gerald's office if you have any questions. Regards,
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ANS: Revised Docs

QUESTION: I have been advised that the board meeting will most likely last until 4:30 p.m. I have adjusted the departure from White Plaines to 4:45 p.m.; which will have you arriving into Houston at approximately 7:00 p.m. A hot dinner aboard the plane has been arranged. Please let me know if you have any questions. Tori L. Wells Executive Assistant Office of Ken Lay Chairman & CEO ENRON
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ANS:
Updated Itinerary for 09/28/01 - 12:50 pm