Dear Steve,

Thanks for stopping by last week's Emissions Strategy Meeting.  As you 
requested, I have attached the presentations from the meeting, as well as an 
agenda and participant list.  

The forum was well received by participants -- many found the policy updates 
and information exchange elements very useful.  Several commercial groups 
expressed interest in continuing to discuss and share information on NOx, SO2 
and carbon/greenhouse gas markets as they evolve.  

We also spent considerable time discussing U.S. "multipollutant" regulatory 
strategies, and received good commercial feedback on the proposals we have 
been circulating in Washington.  From our perspective, the meeting was a 
success from a strategic standpoint, giving our group the needed commercial 
feedback to proceed with advocacy strategies and deliver information that is 
most useful to their businesses.

Key Outcomes:

? Participants from commercial groups -- EES, EGMs, ENA, and Enron Europe -- 
expressed interest in competitive intelligence and policy updates on 
emissions issues.

? Commercial groups asked that Environmental Strategies, perhaps quarterly, 
bring a group together to be briefed on the policy landscape and 
environmental drivers for Enron markets.  (Not likely to be a large meeting, 
but a conference call) 

? Development of a list-serve or intranet site was suggested to facilitate 
communication among the participants.  We are already working on a intranet 
site for delivery of information/intelligence, but will work to add elements 
where commercial groups can share information about business ideas or 
possible deals.

Please see the attached participant list, agenda and presentations for more 
information.  Feel free to call me or Jeff if you have any questions.









Lisa Jacobson
Enron
Manager, Environmental Strategies
1775 Eye Street, NW
Suite 800
Washington, DC 20006

Phone: +(202) 466-9176
Fax: +(202) 331-4717