Tamara Jae Black@ECT
04/02/2001 09:31 AM
To:	Rudy Acevedo/HOU/ECT@ECT, Diana Allen/Enron@EnronXGate, Russell Ballato/NA/Enron@Enron, Ted Ballinger/Enron@EnronXGate, Don Baughman/HOU/ECT@ECT, Edward D Baughman/Enron@EnronXGate, Corry Bentley/HOU/ECT@ECT, Robert Benson/Corp/Enron@ENRON, Tamara Jae Black/HOU/ECT@ECT, Lisa Burnett/Corp/Enron@Enron, Paul J Broderick/HOU/ECT@ECT, Richard Broussard/Corp/Enron@Enron, Larry F Campbell/NA/Enron@Enron, Mike Carson/Corp/Enron@Enron, Jason Choate/Corp/Enron@ENRON, Kevin Cline/Corp/Enron@Enron, Terri Clynes/HOU/ECT@ECT, Keith Comeaux/Corp/Enron@Enron, Karla Compean/Enron@EnronXGate, Kayne Coulter/HOU/ECT@ECT, Oscar Dalton/Enron@EnronXGate, Mark Dana Davis/HOU/ECT@ECT, Clint Dean/Corp/Enron@Enron, Todd DeCook/Corp/Enron@Enron, George Diaz/Corp/Enron@ENRON, Chris Dorland/HOU/ECT@ECT, Tom Dutta/HOU/ECT@ECT, Joe Errigo/Corp/Enron@Enron, Miguel L Garcia/NA/Enron@ENRON, Gerald Gilbert/HOU/ECT@ECT, Doug Gilbert-Smith/Corp/Enron@ENRON, Gautam Gupta/HOU/ECT@ECT, Patrick Hanse/HOU/ECT@ECT, Juan Hernandez/Corp/Enron@ENRON, Rogers Herndon/HOU/ECT@ect, Jim Homco/HOU/ECT@ECT, Richard Hrabal/HOU/ECT@ect, Rika Imai/NA/Enron@Enron, Larry Jester/Corp/Enron@ENRON, Gary Justice/Enron@EnronXGate, Mike E Kelly/Enron@EnronXGate, Grace Kim/NA/Enron@Enron, Jeff King/Corp/Enron@Enron, John Kinser/HOU/ECT@ECT, Madhup Kumar/Enron@EnronXGate, Dean Laurent/HOU/ECT@ECT, Justin Laverell/Corp/Enron@ENRON, Chris Lenartowicz/Corp/Enron@ENRON, Matt Lorenz/HOU/ECT@ECT, Gretchen Lotz/HOU/ECT@ECT, Peter Makkai/NA/Enron@Enron, Tom May/Corp/Enron@Enron, Keller Mayeaux/Corp/Enron@Enron, Doug Miller/Corp/Enron@Enron, Jeffrey Miller/NA/Enron@Enron, Narsimha Misra/NA/Enron@Enron, Christi L Nicolay/HOU/ECT@ECT, Steve Olinde/Corp/Enron@Enron, Andy Pace/NA/Enron@Enron, Juan Padron/NA/Enron@Enron, Laura Podurgiel/HOU/ECT@ECT, Kevin M Presto/HOU/ECT@ECT, Joe Quenet/NA/Enron@Enron, Bill Rust/HOU/ECT@ECT, David Ryan/Corp/Enron@ENRON, Eric Saibi/Corp/Enron@ENRON, Anna Santucci/NA/Enron@Enron, Erik Serio/Corp/Enron@Enron, Doug Sewell/Enron@EnronXGate, Robert Stalford/NA/Enron@Enron, Chad Starnes/Corp/Enron@Enron, Joe Stepenovitch/Corp/Enron@Enron, Mark Symms/Enron@EnronXGate, Ramanarao Tamma/Enron@EnronXGate, Garrett Tripp/TOR/ECT@ECT, Greg Trefz/Corp/Enron@ENRON, Larry Valderrama/Enron@EnronXGate, Maria Valdes/Corp/Enron@Enron, Joseph Wagner/NA/Enron@Enron, Christopher Watts/NA/Enron@Enron, Lloyd Will/HOU/ECT@ECT, Smith L Day/HOU/ECT@ECT, John M Forney/NA/Enron@Enron, Andy Rodriquez/Enron@EnronXGate, Claudia Guerra/NA/Enron@ENRON, Benjamin Rogers/HOU/ECT@ECT, Lisa Shoemake/HOU/ECT@ECT, Clayton Vernon/Corp/Enron@ENRON, Fletcher J Sturm/HOU/ECT@ECT, Alex Wong/Corp/Enron@Enron, Steve H Wang/NA/Enron@Enron, Ozzie Pagan/Enron@EnronXGate, Bruce Sukaly/Enron@EnronXGate
cc:	 

Subject:	Electricity & Fuels Briefing


	
		Please attend the Electricity & Fuels Briefing by Allen M. Stewart, Pira Energy Group

		Where:	30C1
		When:	Monday, April 30, 2001 from 3:30 pm to 5:30 pm. 


If there are any topics that you would like to see expanded upon or added, please contact Rika Imai - 37236.



AGENDA

Agenda:  This Agenda sets out a broad set of topics which will be covered in handout charts and tables accompanying this briefing. Active participation is encouraged to help efficiently utilize the time of discussion in line with areas of greatest interest.  In addition any questions forwarded in advance will be addressed.

Briefing Objective:  Review and analyze key drivers of electricity & fuel prices at various regional markets throughout North America, with a special emphasis on those subregions of the Eastern and/or Western Grids which are of greatest interest. Discuss the key factors/risks to PIRA's reference case outlook and explore important alternative scenarios. Principal timeframes will be now through 4Q2001 (short-term), and years 2001/2 (medium-term). There will be a brief discussion of strategic issues and those relating to longer-term timeframes.

?	Short-Term Electricity & Fuels Outlook (Next 12 Months)
-	Electricity Price Outlook (vs.. Current Consensus)
-	Overall Load, Resource & Price Assessments
-	Capacity Modeling & Results
-	Hydro, Fuels, & Environmental Developments 
-	Implications for Natural Gas Demand/Prices

?	Medium-Term Electricity & Fuels Outlook (1 -3 Years)
-	Capacity Outlook
-	Survey Results & Implications For Prices & Asset Values
-	Strategic Implications For Traders/Asset Managers
-	Implications for Natural Gas Demand/Prices

?	Longer-Term & Strategic Issues for Future Electricity & Fuels Markets
	-	Outlook For Capacity Additions, Retirements, Environmental Factors & Prices
-	Potential Strategy Options For Consideration
-	California Developments
-	Can Deregulated Markets Work For Consumers?

?	Fuels & Emissions Markets
-	Natural Gas & Oil (if relevant) Price Outlook & Risks
	Coal & Emission Markets Developments