Fletch,

Enron had an enterprise-wide agreement for up to 100 users for PIRA's oil,
gas and electricity retainer services. Houston, London, Calgary and Portland
received services. The annual fee for these services in 2002 is $95,000.

The company also received the following services (2002 fees):
European natural gas retainer, $12,500 (London only, up to 10 users)
Daily electricity demand forecast, $7,560, (Houston and Portland, up to 50
users)
Emissions market intelligence service, $5,000 (Houston, up to 10 users)
Natural gas liquids service, $5,000 (Houston, up to 10 users)

There was also a special arrangement between PIRA's electricity group and
the electricity trading desk. Separate fee. Confidential.

Victoria
212-686-6808, ext. 315
-----Original Message-----
From: Sturm, Fletcher J. [mailto:Fletcher.J.Sturm@ENRON.com]
Sent: Tuesday, January 29, 2002 8:57 AM
To: vwatkins@pira.com
Subject: Prior services & fees


Victoria,

Sorry I haven't been able to contact you by phone, but will try today.  Can
you provide me with a list of the services and fee structures in place with
Enron?  I'd like to see what we had before so I can compare with what we'll
need going forward.

Fletch


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