Sara & Ed,

Jennifer Sabine, the trader who originally asked me to prepare a worksheet no 
longer works for Fred Lagrasta, so I doubt she is the one pushing this.  
Unless Ed knows something else or has already addressed the question of 
agency ISDA's with utilities/munis, I am of similair opinion with you Sara.  
That being, if the individual munis/utilities desire to trade term financial 
business, we should pursue individual contracts with them directly and not 
through affiliated agencies.

None of Fred's people are pushing this.  And I am not pushing this.  Ed, 
unless you have reason to pursue this, I would advise holding off any further 
effort until an origination/trading function can be identified.

brant




From: Sara Shackleton on 02/12/2001 10:21 AM
To: Edward Sacks/Corp/Enron@Enron, Brant Reves/HOU/ECT@ECT
cc:  
Subject: Energy New England LLC ("ENE")

Ed & Brant:

I'm being hounded by ENE but no Enron traders seem interested.  Brant 
prepared a new worksheet based upon which we sent a new ISDA.  ENE 
"represents" four municipal utilities and is trying to negotiate ISDA's on 
behalf of those utilities.  I think the agent is off-base and I'm not sure 
that any of the utilities really want to trade financial.

Ed, Shari suggested that you may have some insight into ENE.  Should I drop 
this one altogether?  Or are we interested in pursuing?

Either Ed or Brant please let me know.  Thanks.




Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com