What the NYMEX is trying to get at is their concern that the NYMEX considers 
the trades of ENA and its two other principal trading affiliates (Enron 
Canada and London) to be one and the same as ENA.  It is also concerned that 
we might and try and set up other companies and trade of of those to try and 
increase our overall trading volume with the NYMEX.  Further, the NYMEX also 
doesn't want us to increase our company's overall trading volume, by "hiding" 
trades through accounts in the name of individual employees,   The Annual 
Hedge Exemptions applications require that ENA represent whether its 
officers, employees, owners, or agents have a power of attorney, control or 
have a financial interest in any other related commodity future(s) account 
either individually or acting with another person pursuant to express or 
implied agreement.as indicated in the original email from Mark.   The 
transaction you mentioned below doesn't appear to be problematic, since it 
flows through ENA's risk books,  thus not increasing the overall position the 
NYMEX allows us to trade.

This annual email has a secondary unplanned, but helpful control purpose, it 
fleshes out the trading of employees that might be in violation of the 
Company's Trading Policy.  



	Michael Etringer
	06/23/2000 09:41 AM
		
		 To: Tana Jones/HOU/ECT@ECT
		 cc: Jim Gilbert/PDX/ECT@ECT, Karen E Jones/HOU/ECT@ECT
		 Subject: Re: Enron North America Corp. NYMEX Hedge Exemption Applications

Tina, 

I need some clarification in regards to this email.   ENA holds interest in 
the LV Cogeneration Limited Partnership, both directly and through its 
friendly investor structure,   which is a QF facility located in Las Vegas.  
As part of the financing of the facility, ENA entered into a 10 year 
financial NYMEX swap with LV Cogen.  Brad Richter, ENA VP, signed the NYMEX 
confirmations on behalf of LV Cogen (Desert Arc LLC) and ENA.  

Is this transaction of interest to you and do you need additional information 
with regards to this transaction?

Regards, 
Mike Etringer
503-464-3836





Jim Gilbert
06/23/2000 07:18 AM
To: Michael Etringer/HOU/ECT@ECT
cc: Frank W Vickers/HOU/ECT 
Subject: Enron North America Corp. NYMEX Hedge Exemption Applications

Mike,

Is this something we need to respond to?  Please advise.

Thanks,
Jim


---------------------- Forwarded by Jim Gilbert/PDX/ECT on 06/23/2000 07:15 
AM ---------------------------
   
	Enron Capital & Trade Resources Corp.
	
	From:  Mark Taylor @ ENRON                           06/21/2000 04:39 PM
	

Sent by: Enron Announcements@ENRON
To: All Enron Houston, Everyone_in_ECT_Calgary, Everyone_in_ECT_London, 
Everyone_in_ECT_Portland, Everyone_in_ECT_New York, Everyone_in_ECT_Denver, 
Everyone_in_ECT_Oslo, Everyone_in_ECT_Singapore, EI-Australia, Buenos Aires 
Argentina - Office Staff, Buenos Aires Argentina - TGS Office Staff, Enron 
Everyone_EOG_Denver, Enron Everyone_EOG_Calgary
cc:  
Subject: Enron North America Corp. NYMEX Hedge Exemption Applications


We are in the process of preparing applications for position limit exemptions 
for ENA,s NYMEX energy commodities futures trading.  These applications 
require that ENA represent whether its officers, employees, owners, or agents 
have a power of attorney, control or have a financial interest in any other 
related commodity future(s) account either individually or acting with 
another person pursuant to express or implied agreement.

Please direct any responses to my paralegal, Tana Jones, via intercompany 
email or call her at (713) 853-3399 by the end of business Friday, June 30, 
2000 if you have any power of attorney, control or have a financial interest 
in any commodity futures account (other than an ENA or other trading 
affiliate account).

IF YOU DO NOT HAVE A COMMODITY FUTURES ACCOUNT, YOU DO NOT NEED TO RESPOND TO 
THIS REQUEST.