Greg

Why is EES's var being put in my 60 Million limit.

Lavo




 -----Original Message-----
From: 	Gorny, Vladimir  
Sent:	Monday, February 12, 2001 10:13 AM
To:	Lavorato, John; Kitchen, Louise; Belden, Tim; Presto, Kevin
Subject:	VaR Limit Changes

The Enron Corp. Board of Directors is meeting today and tomorrow. If approved (very likely), the proposed limit changes will become effective tomorrow, Feb-13th:
						Current				Proposed
NA Natural Gas					$60 MM				$61 MM*
NA Power					$50 MM				$54 MM**

* NA Natural Gas limit will also include all positions in the EES and Cross-commodity portfolios. As of 2/9, EES Gas VaR was $0.1 MM and Cross-commodity Gas VaR was $1.4 MM.

** NA Power limit will also include all positions in the EES and Cross-commodity portfolios. As of 2/9, EES Power VaR was $ MM and Cross-commodity Power VaR was $0.2 MM.

Also, $10 Million of Discretionary VaR is currently allocated to NA Natural Gas. Again, if limit changes are approved, additional $5 MM of Discretionary VaR will be allocated to Gas:

						Current				Proposed
NA Natural Gas	with Discretionary VaR		$70 MM				$76 MM*

As of 2/9, Gas VaR was $73.5 MM and Power VaR was $36.4 MM.

If you have any questions, feel free to call me (x36954). Vlady.