If Jeff is happy, I'm happy.

Kay


From: Gregg Penman on 10/26/2000 07:51 AM
To: Vladimir Gorny/HOU/ECT@ECT, Kay Mann/Corp/Enron@Enron
cc: Jeffrey T Hodge/HOU/ECT@ECT 

Subject: enovate Risk Policy

Hello - I spoke with Jeff Hodge yesterday regarding the additional language 
from Peoples regarding Audit Rights.  His initial reaction was that their 
request was probably reasonable and in line with the spirit of a jointly 
owned L.L.C.  However, he did suggest a couple slight revisions to protect 
Enron's interests.
1) Highlighting that information will only be provided that is related to 
enovate and 2) that each designated representative should sign an appropriate 
confidentiality agreement.  This language has been included in the attached 
draft.  My goal, however optimistic, is to execute the risk policy by the end 
of today.  Activity is picking up dramatically and the fine line is getting 
further blurred each passing day.  Therefore, I need to know ASAP if there 
are any problems with the draft as written.  Otherwise, I will be sending it 
to Peoples as our final revision by mid morning.  Thanks for your prompt 
attention to this.

Thanks,

Gregg



----- Forwarded by Gregg Penman/Corp/Enron on 10/26/2000 07:40 AM -----

	Gregg Penman
	10/23/2000 12:12 PM
		 
		 To: Kay Mann/Corp/Enron@Enron
		 cc: 
		 Subject: enovate Risk Policy

Kay - Can you please review this additional language to the risk management 
policy ( or circulate to Jeff Hodge)?  In light of the CA regarding curves, I 
am slightly concerned with a blanket statement essentially giving Peoples 
unlimited access to information. I know that we address audit rights in the 
LLC agreement so this may not matter anyway if this is a right they already 
have.  Let me know what you think.

Thanks,

Gregg
----- Forwarded by Gregg Penman/Corp/Enron on 10/23/2000 12:07 PM -----

	m.nordstrom@pecorp.com
	10/20/2000 11:32 AM
		 
		 To: p.burgener@pecorp.com, Vladimir.Gorny@enron.com, Gregg.Penman@enron.com
		 cc: 
		 Subject: enovate Risk Policy


Attached please find the latest enovate risk policy.  Our attorneys and
internal audit area have made one language revision concerning Section XIII
Audit Rights.

Mary <<MEH-risk Oct 20>>


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