FYI 
 -----Original Message-----
From: 	"Allan Stewart" <astewart@pira.com>@ENRON  
Sent:	Tuesday, January 15, 2002 10:53 AM
To:	Herndon, Rogers
Subject:	Whats Up?

Rogers,

Been on the road since we met. Saw that Warburgs is picking up some portion
of trading activity. Are you going with them? Let me know whats going on
when you have the chance.

Gas is looking uglier than when we talked about it in Houston. Seems likely
to be at least 1.5 TCF end of March. I am thinking that we will see $1.50ish
prices before we get out of the winter. I am still thinking that coal will
provide some support but prices have gotten really sick.

Still hoping to stop units under construction. Still not hearing about that
yet. Saw NRG started construction on a 1,200 MW unit in Entergy. Whatever
they are smoking, we ought to get some.

Hope all is well with you guys.

Regards,
Allan