Please see below the latest edition of GlobalFlash!  Apologies for the delay.

Regards,

Tracy
---------------------- Forwarded by Tracy Ralston/EU/Enron on 29/11/2000 
16:45 ---------------------------
   
	
	
	From:  Enron Europe General Announcement @ ECT                           
24/11/2000 09:40
	

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

Subject: Newsletter: GlobalFlash!






BUSINESS HIGHLIGHTS

Nordic energy agreement with UPM-Kymmene
Enron Nordic Energy and UPM-Kymmene Corp. have signed a two-year portfolio 
management agreement covering UPM Kymmene's Nordic power portfolio. The 
Mid-Market desk in the Oslo office will assist UPM in optimising its 
portfolio of approximately 14 TWh. energydesk.com will provide UPM with the 
risk management system used in the process. In addition, the agreement opens 
the door for Enron Energy Services to explore a variety of opportunities 
within the company. The Nordic agreement is the first step towards a broader 
scope of co-operation with UPM on a European and Global basis. The total 
contract value is estimated to be $375 million.

UPM-Kymmene's nominal electricity resources total about 3000 MW, of which 
2500 MW in Finland and about 500 MW in other countries. The group's power 
procurement totals approximately 18 TWh per year, of which about 14 TWh in 
Finland. Around 15 TWh/a is consumed by the group's own mills and the rest is 
sold to the market.

http://www.upm-kymmene.com
http://www.upm-kymmene.com/upm/energy/energybuild.html

The deal was led by Sami Tenngren - Nordic Mid-Market, and was supported by 
Magnus Groth - EES, Jukka Hormaluoma - energydesk.com, and Martin Rosell - 
Legal.

Congratulations on a job well done to all those who worked so hard to put 
this transaction into place........Thor Lien.

Australia
Despite heavy flooding in NSW, the weather is looking up for Enron 
Australia.  Last week, the Sydney Office launched online Hong Kong weather 
derivatives  and the Sydney weather node traded on EnronOnline in the US time 
zone.  With this precedent, we hope to support the takeoff of global weather 
on EnronOnline.  

The Coal Group in Sydney has suddenly become very popular. There is no doubt 
that a recent sale to AES for the plant at Barbers Point, Hawaii is the real 
reason.  Coal purchases during year 2000 have been concluded with most major 
producers in Indonesia and Australia.  We will soon be loading our first 
shipment from China. Deliveries to Nippon Steel in Japan are underway. Also, 
a shipment to a large power utility in Japan will take place in early 2001.

Off-shore wind plans
Enron has entered into agreement to purchase the development assets of a 30 
MW offshore wind project in the UK.  The Harwich project, situated in 
Gunfleet Sands approximately eight kilometres offshore in the North Thames 
Estuary is believed to represent one of the first serious investments in the 
development of offshore wind energy in the UK. 

Weekly EnronOnline Figures
Below are the latest figures for EnronOnline as of November 20, 2000.

* Total Life to Date Transactions >  450,000
* Life to Date Notional Value of Transactions > $253 billion


SAP SYNCHRONISATION AND ALLOCATION PROJECT

Recently we updated you on the SAP Synchronisation and Allocation project.  
The changes being made are designed to assist business units in tracking and 
controlling costs. 

What's changing? 

New Project Codes:   

We will be moving from the current project tracking mechanism, Internal 
Orders (I/O), to using WBS (Work Breakdown Structure) .   These new codes 
facilitate better project reporting and are grouped hierarchically into 
structures. These groupings are based on project organisation, phasing or 
activities and provides a project overview.  The PS Module within SAP 
provides for a common template offering some key advantages:  

 -  provides consistency across projects and business units 
 -  facilitates comparison between projects 
 -  provides a logical grouping of code structures

This tracking mechanism will also be used for capital projects or expense 
projects that require cost tracking. 

What about training?

To ensure your comfort with the changes listed above, training materials are 
currently under development by the project team.  Core training is scheduled 
to be December 4 - December 22 and training notifications will be sent 
shortly to those users who are affected by these changes.  These 
notifications will come via an email from European T&D and will enable you to 
register for available classes.


ENRON IN THE PRESS
"The name of Enron may be unfamiliar in Japan, but it should not stay that 
way for long.........Joseph Hirl, president of Enron Japan, says: "We don't 
go in and try to destroy markets - we go in and create them."  Some of the 
company's potential customers and business partners may still need to be 
persuaded of that, but Enron has a large stock of experience to reassure 
them".   Financial Times


EUROPE TRIUMPHS AT THE MANAGEMENT CONFERENCE
We are pleased to report a great showing by Enron Europe people in the 
various competitions organised as part of this year's Enron Management 
Conference in San Antonio:

Golf:        Brian Stanley was a member of the winning team 
Tennis:  Rob Saltiel won and Steve Elliott was runner up.
Road Rally: Jackie Gentle's team was third.  [We beat Ken Rice in his Ferrari 
and we stopped for ice-cream.  Hee! Hee! ....Ed.]
Road Rally:         Eric Shaw & Riccardo Bortolotti won the fastest rental 
car in the slalom section.

Everyone is strangely silent on who won (or lost) the after dinner poker game 
...........


NEW STARTERS
Please join us in extending a warm welcome to this week's new members of 
staff:

Andrew Davison (Global Finance), Nick Arnold (Power Trading UK), Steven Los 
(Transaction Support), Melanie Shuckard (Coal Trading), Mark Sheey (Fin Ops 
Fin Rptg), Toni Duff (Enron Broadband Trading), Marc Hammerson (Legal), Jose 
Leitao (EES Middle Market), Mustafa Hussein (Govt & Regulatory Affairs), 
Brenda Van de Peer (Global Operations), Lorna Hyde (HR A&A), Jacob Meins 
(European Gas Trading), Mark Leahy (EnronCredit.com)


TELEPHONY UPDATE
The European Telephony Group have added a new facility to the Enron House 
Telephone System, which will give staff using mobile phones the ability to 
have their conversations recorded.  This is primarily aimed at Traders who 
may need confirmation of a conversation for a transaction, which is not made 
from an Enron House phone.  To use the facility out users should dial 37373 
from their Enron Mobile, at the sound of the dialtone they should dial as if 
they would for any call from inside Enron House -- i.e. dial '9' and the 
relevant number to talk to the client.  The Telephony Group can retrieve the 
conversation on demand and replay to the trader.


UPDATE FROM AYSCOUGH TRAVEL
Please be advised, should you miss one leg of your journey and have onward 
flight connections there is a strong possibility the airline will cancel the 
reservations, if they have not been advised accordingly.  Airlines are 
constantly monitoring for passengers who fail to make their reservation or 
who hold multiple bookings on similar routings. In order to increase their 
passenger revenue they will delete duplicate or onward bookings and sell the 
seats at a higher fare.  Please advise the Implant Office of any amendments 
to your travel arrangements as soon as they are available. This is imperative 
if your changes arise during your business trip.  Ayscough Travel thanks you 
in advance for your assistance!


CORRECTION: CHAIRMAN'S AWARD
We would like to make an apology to all the employees who were incorrectly 
listed as London based staff in last week's GlobalFlash.  Please see below 
for the correct listings:

Paul Bates - Teesside 
Paula Bowman - Teesside
John Brodie - Teesside
Peter Burke - Teesside
Terry Bye - Teesside
Sue Caswell - Teesside
Eric Chamberlain - Teesside
Graham Taylor - Teesside
Caroline Cunliffe - Teesside	Sarah Grimes - Teesside
	Tim Roy  - Teesside
	Terry Waldron  - Teesside
	Trevor High - Teesside
	Christine Hill - Teesside
	Mike Mason  - Teesside
	Geoff Milward - Teesside
	Richard Murray - Teesside
	Mike Mussett - Teesside	Colin Telfer - Teesside
		Dave Shaw  - Teesside
		Kevin Westwood  - Teesside
		Judith Wong - Teesside
		Gary Douthwaite - Teesside
		Paul Frankland - Teesside
		Hans-Mart Groen - Amsterdam
		Jose Luis Novo - Madrid
		


AMERIFLASH BUSINESS HIGHLIGHTS

Coal Trading
The liquidity in trading of the Standard European Coal Agreement has 
increased significantly over the last 6 weeks.  Many counterparties that 
previously opted to stay on the sidelines finally chose to join the game. 
Since the contract's inception at the beginning of the year, Enron has traded 
a total of 5.3 million tons against the SECA contract, of which 3.8 million 
tons has been traded via EnronOnline since July 2000.  We are 5.3 million 
tons of a total traded market of 5.8 million tons.

Principal Investments
Tridium Inc., the leading provider of Internet-based automation 
infrastructure solutions, announced the close of a $20 million round of 
capital funding. The funds will be used to increase Tridium,s sales and 
technical support offices in North America, expand its operations into Europe 
and Asia, and enhance its technology and products. kRoad Ventures, L.P. and 
Enron North America each contributed $10 million in venture capital.

Corporate Development
Allegheny Energy Supply Company, LLC, a wholly owned subsidiary of Allegheny 
Energy, Inc., announced the signing of a definitive agreement under which 
Allegheny Energy Supply will purchase three Enron natural gas-fired merchant 
generating facilities. The acquisition is expected to close in the 2nd 
quarter of 2001.