Tony Pryor recommended that I put back into the policy section II A &B so 
that at our meeting tomorrow at 10:00 A.M. we can discuss them.  Please use 
this copy of the draft dated 12/5/00 to discuss from tomorrow.






   
	
	
	From:  Dan Fancler                           12/01/2000 11:28 AM
	

To: Drew Fossum@ENRON, Tony Pryor/ET&S/Enron@ENRON, Jerry 
Peters/NPNG/Enron@ENRON, Lee Ferrell/ET&S/Enron@Enron
cc: Bob Chandler/ET&S/Enron@Enron 

Subject: ETS risk management policy revisions

I have included Drew's recommendations and have amended the 11/6/2000 drafts 
of the ETS Risk Policy and Risk Procedure.  The significant change made was 
to take out references to Hedging and Non-Hedging Transactions (II A. & B. 
have been taken out).  We will just call them all Derivative Transactions.  I 
would like Tony Pryor to arrange a meeting with all parties to move these 
documents forward, an alternative is to continue to use the Corporate Risk 
Management Policy and just set the trading limits as part of the Corporate 
Policy. 

Cassandra Schultz in RAC has not responded to the policy and I plan to 
follow-up with her after we meet to discuss.

Dan