Cynthia - I think you have told us what we need to know.  I assume 
"monitoring" will be no burden since you expect no movement.  Our arrangement 
with Enron does not require you to undertake any efforts on our behalf that 
you would not otherwise take on Enron's, so I won't ask you to start a new 
file on this.  

Will the bill die at the end of the year if there has been no action or will 
it stay alive into the next Congress?

Thanks for your kind thoughts on our IPO and thanks for steering me to Sen 
Schumer's office last week.  We will keep  up that relationship now that it 
is established.


From: Cynthia Sandherr@ENRON on 10/12/2000 04:12 PM CDT
To: Kathleen E Magruder/HOU/EES@EES
cc: Joe Hillings/Corp/Enron@Enron, Marc Manly/HOU/EES@EES, Richard 
Shapiro/NA/Enron@Enron, Chris Long/Corp/Enron@ENRON, mpate@bracepatt.com, Tom 
Briggs/NA/Enron@Enron, Paul Kaufman/PDX/ECT@ECT, Mary Hain/HOU/ECT@ECT, Jeff 
Dasovich/NA/Enron@Enron, Allison Navin/Corp/Enron@ENRON 
Subject: Re: Important Legislation Watch:  H.R. 5415  

Kathleen:  We will be happy to monitor this bill for you.  However, you 
should know that this legislation is going nowhere this Congress.  The member 
introducing it, Congressman Filner (D-CA), is not a member of the Ways and 
Means Committee to which the bill was referred.  Further, as a Democrat, even 
if he were a Ways and Means Committee Member, the bill would go nowhere 
absent support from a Republican Committee Member (which he does not have.)  
Finally, there is only a small outside chance that this Congress will even 
consider a tax package at all this year.  The possible tax package which has 
been circulated does not contain this language.  Interestingly, this 
Congressman has also recently introduced separate legislation (H.R. 5131) to 
give FERC retroactive rate-making authority in order to roll back wholesale 
prices and refund the overcharges to consumers.  Seems he's on a roll!!!!  As 
a member from the San Diego area, he is mostly introducing these type of 
bills for press purposes.  Hope you are doing well and Congratulations on the 
success of the IPO!



	Kathleen E Magruder@EES
	10/12/2000 10:09 AM
		 
		 To: Cynthia Sandherr/Corp/Enron@ENRON, Joe Hillings/Corp/Enron@ENRON
		 cc: Richard Shapiro/NA/Enron@Enron, Marc Manly/HOU/EES@EES
		 Subject: Important Legislation Watch

Please let me know what action, if any, is Enron taking on this piece of 
legislation.  If you are  monitoring, would you please add me to your 
distribution list?

Thanks
---------------------- Forwarded by Kathleen E Magruder/HOU/EES on 10/12/2000 
10:07 AM ---------------------------

	Enron Energy Services
	
	From:  Vickie Gross                           10/11/2000 06:01 PM
	Phone: n/a
	



To: Steve Nolan/HOU/EES@EES, Jim Malone/TNPC/EES@EES, Bill Jacobs, Gene 
Lockhart/HOU/EES@EES, Kathleen E Magruder/HOU/EES@EES, John 
Henderson/HOU/EES@EES, Marc Manly
cc:  
Subject: Important Legislation Watch


Per the attached:

HR Bill 5415 was introduced in the U.S. House of Representatives and designed 
to impose a windfall profits tax on wholesale electric energy sold in the 
Western System Coordinating Council (WSCC).  The Act referred to as the 
"Public Oversight of Wholesale Electric Rates Act" or "POWER Act" attempts to 
impose an excise tax of 100% of the windfall profits received by a seller of 
power in the WSCC.  The windfall profit tax would be calculated on the excess 
of the energy rate sold over the regulated price.  This tax would be 
effective for sales of electricity sold after June 1, 2000.  While this tax 
would be imposed on the wholesale seller, the amount passed to the retail 
consumer would be inclusive of the new tax.