Enron Mail

Subject:Newsletter: GlobalFlash!
Date:Mon, 4 Dec 2000 09:40:00 -0800 (PST)

Please see below the latest edition of GlobalFlash! for your information.


---------------------- Forwarded by Tracy Ralston/EU/Enron on 04/12/2000=20
17:42 ---------------------------
=09From: Enron Europe General Announcement @ ECT =
01/12/2000 15:53

Please respond to Jackie Gentle/LON/ECT
To: ECT Europe, ECT Asia Pacific
cc: =20

Subject: Newsletter: GlobalFlash!


The London dry cargo seafreight team traded 1 million metric tonne of=20
Capesize vessel swaps via EOL in one day, (Wednesday 28th November). The de=
was created by combining OTC options and a physically related cash market=
deal. This helps to bring our YTD EOL to just under 2.5 mln tonne.

Off-shore wind energy deal
Enron Wind has signed a power purchase agreement with Swedish energy compan=
Graninge. According to the agreement, Graninge will deliver electricity to=
consumers using Enron's wind power plants in southern Sweden. Enron Wind's=
Utgrunden off-shore wind park, completed this year, will generate in the=20
region of 38,000 megawatt hours of electricity, or enough for around 6,000=
average homes between the mainland and the island of Oland on the southeast=
tip of Sweden. In an announcement this week, Graninge stated that it plans=
to market the power to consumers as 'green' energy.

Happy 1st Birthday EnronOnline!
This week saw EnronOnline celebrate its first birthday. During the course =
its first year, EnronOnline has passed a number of milestones including the=
addition of a range of new functionalities for customers on the site. =20
EnronOnline has now come of age, having surpassed the $274 billion mark in=
notional value in November. This represents a total of 478,695 transaction=
since the site was launched on 29 November 1999.

The first anniversary was marked by giving the media guest access to=20
EnronOnline in Europe. A team from Reuters was invited into Enron House to=
receive a full demonstration of EnronOnline and as of today will be able to=
quote in reports live prices from EnronOnline. Other media outlets are bei=
invited to obtain guest access during the coming weeks as the word of=20
EnronOnline's success continues to spread...

Enron Australia continues to assist in the region in a supportive role. =20
Elliott Katz worked on the GEM migration in Singapore last week with an IT=
team from London, Oslo and Singapore. Approximately 40 users, including=20
Traders, were migrated to Windows 2000 and the CORP domain. This is an=20
important step for the Asia Pacific region, as it brings the three biggest=
offices (Singapore, Sydney and Tokyo) into line with corporate standards fo=
desktop computing.

Welcome Sarah Brown as Associate in the Portfolio Management team. Sarah's=
most recent role was in Trading Operations with Sempra Energy Europe which=
included gas trading and some exposure to electricity. Does her name ring a=
bell? Prior to that Sarah was with Enron in London, mainly focused on gas=
transportation analysis and contract management. =20

Enron Australia participated in the First Annual Chase Corporate Challenge.=
The team of David Bartnik, Connell Burke, Fiona Skinner, Paul Smith and=20
Jervyn Zhang competed with record times in the pouring rain. It was a good=
event, though it should have been billed as a 'biathlon' with all of the=20

E-Power, a JV between Enron and Japanese finance company Orix, has announce=
proposals for a 2000MW gas-fired power plant at Mutsu-Ogawara, an industria=
area in northern Japan. A feasibility study will be undertaken to define=
how the project will go forward and this may include the development of an=
LNG terminal in the vicinity. The nature of the permitting process is such=
that the plant would not begin operations for six to seven years. This=20
project is just one of several options that E-Power are working on in Japan=


Watch out next week for a special edition of GlobalFlash and find out just=
how well everybody in Europe, Japan and Australia rated Enron on issues suc=
as the work place environment, communication and respect in the PULSE=20
Survey. =20


Following are the forthcoming Lunchtime Presentations that will take place =
the Auditorium between 12.00 - 1.00 pm for the month of December.

Tuesday 5th December Markus Fiala EnronCredit.com

Thursday 7th December Rob Bayley UK Origination

Thursday 14th December Pierre Aury Freight Training


Enron will, once again, host the Honeypot Charity's "Loose Change Week"=20
during the week of 4th - 8th December. Honeypot is a charity dedicated to=
providing support and encouragement to severely disadvantaged young childre=
living in Britain, by providing holidays and respite care at the Honeypot=
House in Hampshire. Last year the "Loose Change Week" raised over o4,500=
which was a significant contribution to Christmas parties held for severely=
disadvantaged children.

Collection boxes will be situated in the Pit Stops and kitchens on all floo=
of Enron House as well as the Gigabite.


It is now possible for the Plasma Screens and Video Wall at Enron House to=
display brief animated announcements. Managers can target specific screens=
in their area and have an announcement appear at specific times, or have a=
general announcement appear on all screens around the building. The new=20
system has a limited capacity at present, so announcements will be displaye=
on a priority basis. To collect a form please go into Brainbox on the S:=20
drive under the folder entitled 'Tell the Team!'. Forward your completed=
form via email to Paul Sharp or Eva Lloyd in E-Business Design. Please=20
contact Fiona Grant (ext 35308) for any further information.


To help you out with your gift buying this year, Enron will be holding a=20
Holiday Fayre in the Forum between 8.00 a.m. and 6.00 p.m. on Thursday 7th=
and Friday 8th December. There will be a number of stalls selling a wide=
range of products from Christmas Hampers to perfume to clothing, plus a fre=
gift wrapping service will be provided, too.

Please note that cash transactions will not be permitted - you will only be=
able to pay for goods with either a credit card or personal cheque=20
accompanied with a guarantee card. We would like to note also that some of=
the stalls will only be bringing limited stock with them on the 7th and 8th=
and therefore will arrange for your goods to be delivered to you at a later=
date (obviously before Christmas!)

Hope to see you there!


Iberia Airlines have the following deal available. This is for departures=
from now until 28th February 2001 but reservation and ticketing must be mad=
on or before 15th December.

Two Business Class normally =3D o1,035.60
Two Economy Class normally =3D o904
Two for One Deal =3D o751.60 (business class)

Two Business Class normally =3D o1,256
Two Economy Class normally =3D o1,052
Two for One Deal =3D o717.60 (business class)

Passengers must travel together and is only valid for Iberia airlines, and=
can not be changed to other flights.

British Airways from now until 31st January are offering passengers who=20
travel on fully flexible economy tickets complimentary upgrades to the new=
World Traveller Plus cabin. =20

This is valid on routes to New York - JFK, San Francisco and Hong Kong and =
subject to availability.

When you travel World Traveller Plus, you will enjoy the following extra=20

- A new separate cabin
- Completely new, wider seat, boasting seven inches of extra leg room than=
World Traveller
- In seat laptop power and an individual phone


With effect Monday 4th December the opening hours of Ayscough Travel will b=
extended. The new opening times will be 08:30-18:30 hrs to meet business=


A warm welcome this week to Paul Burland (IT Operations), Roland Kuchler=20
(Energy Operations), Michael Randles (Fin Ops Acc & Comp), Cecilia Turriago=
(Metals Business), Anita Cullen (EBS PR), Jens Gobel (Metals Business), Ann=
Aslanyan (Research & Trading Controls), Fabienne Robineau (EBS Bandwidth=20


EGM Coal & Emissions
The November and December NYMEX market remains very tight. Offers in the O=
market have climbed to the low $40s. The highest reported trade for Decemb=
was reported at $38.50. The tightness should continue through the first=
half of the year with the Martin County mine still shut down. The rest of=
the year remains strong piggy backing off of the current spot market.=20

Finally--Life beyond the 150 to 155 range--vintage year 2000 SO2 allowances=
broke out of this trading range this week. The low trade was around $119.5=
and the last trade was around $120.50. The sharp drop in prices was caused=
in large part by the news of Dominion Virginia Power settling the New Sourc=
Review lawsuit brought against it by the state of NY and the EPA Continuing=
rumors of further NSR related settlements will likely create continued=20
volatility. It is as yet unclear what the new price floor will be.

NOx has settled down a bit with last trade 2001 vintage of $675.

Principal Investments
Solo Energy Corporation, an Alameda, California based developer of Wireless=
Energy microturbine products to supply superior on-site energy service to=
U.S. commercial and light industrial customers, announced that Enron North=
America has completed an equity investment in Solo Energy as well as entere=
into an alliance agreement.

In exchange for warrants to purchase the Company=01,s preferred stock, Enro=
will assist in obtaining fuel contracts to support the Company=01,s distrib=
generation contracts, including the provision of gas and backup electricity=
and will work with the Company to support its market and gas technology=20