Please see below this week's edition of GlobalFlash!

Regards,

Tracy
---------------------- Forwarded by Tracy Ralston/EU/Enron on 08/12/2000 
11:13 ---------------------------
   
	
	
	From:  Enron Europe General Announcement @ ECT                           
08/12/2000 11:12
	

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

Subject: Newsletter: GlobalFlash!





BUSINESS HIGHLIGHTS

Enron Direct
Enron Direct was recently cited by Ofgem for high complaint levels with 
regard to account complaints per total customers served.  Enron Direct views 
the Ofgem customer service measures very seriously and is committed to 
improving all aspects of its customer service - even while enjoying continued 
strong growth in its retail commodity business.   However, the account 
complaint level measure is particularly biased against fast-growing new 
entrants like Enron Direct.  Since all of Enron Direct's customers have 
recently switched suppliers - which is when most complaints occur - and our 
total customer base is far lower than that of the RECs, our account complaint 
levels per customer tend to appear inflated versus the REC peer group.   In 
fact, Enron Direct's complaint levels for both transfers (i.e., switchers) 
and mis-selling, as measured by Ofgem, were well below industry averages.  
While we are not yet best-in-class, Enron Direct's portrayal as an industry 
laggard in any aspect of customer service is misleading.  Stay tuned.

Relations with UPM-Kymmene
As previously announced, Enron Nordic Energy has entered into a two year 
energy portfolio management agreement with UPM-Kymmene, the forestry industry 
enterprise.  This deal creates huge potential for business opportunities 
across a wide range of areas for Enron.  

As part of the agreement, UPM-Kymmene has requested a dedicated account 
manager in Oslo.  In order to comply with this request, we have appointed 
Sami Tenngren on a full time basis to establish the operational framework and 
to coordinate all Enron relations with UPM-Kymmene regarding power related 
issues.

It is important that all Enron businesses take advantage of this unique 
opportunity to generate profitable business relations with UPM-Kymmene. If 
you would like to discuss new business opportunities related to worldwide 
power with UPM-Kymmene, please contact the Nordic Origination Team. Please 
also keep us informed about any other business development issues related to 
UPM-Kymmene within other parts of Enron.

Weekly EnronOnline Figures
Below are the latest figures for EnronOnline as of December 6, 2000

* Total Life to Date Transactions > 503,940
* Life to Date Notional Value of Transactions > $301 billion

Worth noting, EOL did $6.7 billion worth of US business on December 4, 2000!

Australia
The Sydney Metals Desk is now fully manned. Welcome to Owen Murphy,  Max 
Sobal and Robert Heynen to the Sydney Office.  The Metals Group is already 
reviewing the possibilities of utilising the existing metals customer base in 
Australia to expand these relationships to include power supply/pricing, a 
large component of overall costs.  While it is early days, our preliminary 
discussions on the idea of pricing for power in relation to metal price is 
receiving a positive response. 


ENRON IN THE PRESS

Virtual tanker swaps generate $5m freight in real terms
The inclusion of tanker swaps on Enron's online Internet trading platform in 
early October has already generated trade for 600,000 tonnes of tanker 
freight derivatives contracts worth the equivalent of $5m of freight in real 
terms - and all based on just one tanker route.

Volatility in the tanker physical sector prompted Enron to add tanker swaps 
to its new online platform.  Enron Director, Scott Moncrieff, told Lloyd's 
List: "The reason we started tanker forward freight agreements was because of 
the volatility.  We are experiencing the highest levels of volatility since 
the Gulf War."

Based on existing figures, the Enron team believes that growth in the 
physical market will fuel freight swaps demand.  Mr Moncrieff said: "The 
market for physical tanker freight will be over $10b in 2001.  This will 
obviously expose a lot of people to risk.  We want to give our customers as 
many options as possible so that it reflects their fleet."  Lloyds List

Enron lines up the big players
Enron is on line to introduce big players into the dry bulk freight 
derivatives market in the new year.

Enron's Pierre Aury, told Lloyd's List:  We are now meeting with banks and 
some have volunteered to trade on behalf of their shipping customers.  
Hopefully by early next year we should see the first trades with these new 
players."

After entering the shipping freight swaps market earlier this year, the 
EnronOnline initiative has generated plenty of business, and has, its 
creators hope, contributed towards liquidity in the other freight 
over-the-counter markets.

While Enron would like to see even more business come its way, surprise has 
been expressed at how quickly the online market has become established.

"We thought it would have taken longer to take off but we have reached close 
to 1.5m tonnes (dry bulk freight swaps) traded online.  Some days we are 
doing more than the over-the-counter markets.  Our dream target would be to 
double trade on the forward freight agreement market reasonably quickly," 
said Mr Aury. Lloyds List

Chance for competitive market.  Enron wants to trade with Polish energy.
"Experience from West European markets shows, that liberalisation leads to a 
decrease in energy prices for end-users, especially plants and companies.  
Competition and the TPA rule gives freedom of choice of contractor, and 
allows implementation of risk management tools.  It also allows potential 
investors to objectively evaluate analysed enterprises based on market 
research," said Jarek Astramowicz.  Parkeit (Polish national daily)


NEW STARTERS

A warm welcome this week to Oliver Fincke (Global Finance), Alex Parsons 
(Public Relations), Karin Ahamer (Executive), Julie Russell (Legal), Yvonne 
Scorer (HR), Paul De Canha (Fin Ops Glob Systems), Gavin Greenan (IT Front 
Office), Phillip Edwards (Trade Accounting), Karen Tomlin (Global Operation), 
Malak Hamed (Fin Ops Fin Rptg), Cassandra Chinkin (Underwriting), John 
Grounds (EES EAM Dev & Eng), Kevin Heffron (Metals - Brok&Trad), Horst Jauk 
(Gas Analytics), Marcus Jagdeo (Research & Trading Controls), Peter Pentecost 
(EES T&P Exec), Melissa Allen (Fin Ops Exec), Cecelia Turriago (Metals 
Business), Anna Aslanyan (Research & Trading Controls).


FLORA LONDON MARATHON 2001

Enron Europe has secured 10 places in the Flora London Marathon which takes 
place on the 22nd April 2001.  Places will be given to those who pledge the 
most money and give a non-refundable cheque (minimum o500) as a deposit.  The 
money can then be given to a charity of your choice.  Those who wish to apply 
should email adrian.watts@enron.com with their choice of charity and the 
amount they wish to pledge!  Entries and cheques should be in by Monday 18th 
December 2000.


GOT SOME LOOSE CHANGE?  TIME TO CLEAN OUT THOSE DESK DRAWERS. . .

You've all heard the reminders that we like to maintain a clean desk policy 
here at Enron House, but have we told you about the clean desk drawer policy, 
too?  Starting next week we plan to give everybody a fabulous opportunity to 
clean out their desk drawers and off load all those pesky pennies, francs, 
lira, escudos, pesetas, rupees, drachma, schillings, deutsch marks, dollars 
and any other foreign currency you have kicking around in your drawer into 
the two big blue bins in the Forum.  UNICEF and Enron have teamed up to give 
you a chance to make a fresh start in the New Year with a change-free 
drawer.  So, join in the fun and empty out those rattling desk drawers -- 
'cause we'll be calling a desk check come the end of January!  Oh, and yes, 
if you want to turn over a new leaf at home for the New Year, then gather up 
your loose change and drop it off in one of the bins on your way upstairs. 
The small print: All loose change will be collected by Travellex foreign 
currency exchange bureau for counting and, in the case of foreign currency, 
will be exchanged at market rates into pounds sterling.   The money will then 
be donated to UNICEF -- the United Nation's Childrens Fund -- to support, 
among other projects, their worldwide child care immunisation and clean water 
schemes.  


QUIZ OF THE WEEK

A bottle of champagne to the winner of this week's quiz.........

What is the longest word that can be made from this set of letters using each 
letter only once?

T A R M U H I E C