Janet, I though we signed a turnkey with NEPCO - there should not be any 
overruns to your P&L if that is the case.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 05/25/2000 
06:47 PM ---------------------------


Janet R Dietrich
05/25/2000 08:30 AM
To: David W Delainey/HOU/ECT@ECT
cc:  
Subject: Austin Implementation


Dave, since the ENA power desk will be receiving 100% of all earnings related 
to the City of Austin capacity, it's only appropriate that any cost overruns 
will be sent directly to their P/L. There isn't anything that leads me to 
believe there will be overruns, but you know how that goes with NEPCO and I 
want to be very clear up front that if something should occur, I have no 
ability to offset the cost with other Austin earnings. 

I'd also like to set aside some time when we can talk thru several business 
items/issues. The teaser list is as follows:  continuing internal noise 
between the desks and origination groups related to deals and primarily the 
P/L split (any maybe a few solutions), the followup and status and 
recommendations on the global LNG business and ENA's interest (I've had 
meetings with Doug Rotenburg, Vince Kiminski, others, and new info from our 
Duke meeting), status of Chicago office, clarification on leftover items from 
Columbia acquisition last year, employee hiring/contracts,  etc.

Maybe we can get together this afternoon or tomorrow. How about the status of 
the FP&L meeting with Jim Broadhead?
---------------------- Forwarded by Janet R Dietrich/HOU/ECT on 05/25/2000 
08:03 AM ---------------------------


Janet R Dietrich
05/25/2000 08:04 AM
To: Jeffrey M Keenan/HOU/ECT@ECT, Ben Jacoby/HOU/ECT@ECT, Dean 
Dashwood/LON/ECT@ECT, Billy Lemmons/Corp/Enron@ENRON
cc:  
Subject: Austin Implementation


Hey guys. I would like an outline of the City of Austin project as far as how 
this will be managed from ENA's standpoint. My understanding is that Jeff 
Keenan will be the Project Manager for ENA and will be entirely responsible 
for the implementation of all aspects to bring the plant to commercial 
operations. This would include schedule, permitting, interconnect agreements, 
managing NEPCO to the $88.3 million total cost, etc. Everyone needs to 
realize that this team will realize a true loss on any overruns above the 
$88.3 million. I've asked Tammy Shepherd to set up a budget, schedule and 
weekly distribution similarly to how we handled Doyle and the other projects. 
I'm assuming that this team is managing everything related to the Austin 
project and is accountable for its successful implementation. 

If we need to discuss anything related to the above, let me know.  Thanks.