=============
Page 1 of 46
=============

Enron Corp
Earnings Release Details
1st Quarter 2000

page

Significant IBIT Variances	1-5
Wholesale Buckets Summary	6
Wholesale Buckets Detail	7-14
Business Unit Variance Schedules	15 - 21
Calculation of EPS	22
Other Income	23
Interest Expense	24
Earnings Release Support Pages	25 - 29
Statistical Supplement Pages	30 - 37
Distribution:	
Rick Causey	
Mark Koenig	
Paula Rieker	
Peter Berger	
Cedric Burgher	
Kathryn Corbally	
Scott Vonderheide	
Mark Palmer	

cc: Bob Butts
Greg Adams

EXH066-00216

ECO6419BO100929

GOVERNMENT
EXHIBIT
  4254
  Crim. No. H-04-25 (S-2)


=============
Page 2 of 46
=============

Enron Wholesale
Significant Variances
(In Millions)

Commodity
Gas trading, excl originations (net of expenses) -
see summary at (a)
Originations
BPA
  Canada
Entex
Palm Springs
  Other gas originations (less than $6m)
  Gas Trading
Power trading, excl originations (net of expenses) -
see summary at (b)
Originations
Genco
Other power originations (less than $10m)
  Power Trading

Equity trading (index)
Interest & FX books
Global liquids (net of expenses)
Crude oil prepayments
Weather, paper, coal, SO2
Credit adjustment
Spread options
Other (including expenses)
  Other Trading
Total Commodity

Assets and Investments

Fair value income - see summary at (c)
Equity earnings on JEDI, JEDI II, Condor, others
Accrual earnings on merchant investments
Finance originations
Asset selldowns and 125s - see summary at (d)
Other portfolio related earnings
  Merchant Activity
Asset operations - see summary at (e)
Development and construction
  Operations and Development
Total Assets and Investments

  1s0 0 119 9
  2000 1999 Diff

32 26

	7 (7)
6	5 1
	6 (6)
	8 (8)
3	6 (3)
41	58 (17)

117 122 (5)

21	-	21
2	(8)	10
140	114	26
33	-	33
52	29	23
20	16	4
(28)	(6)	(22)
16	16	-
5	61	(56)
24	6	18
(57)	(70)	13
65	52	13

  246 224 22

27	(18)	45
167	34	133
5	22	(17)
	2	(2)
5	47	(42)
(49)	(27)	(22)
155	60	95
82	61	21
(17)	15	(32)
65	76	(11)
220	136	84

Total Unallocated Expense (47) (40) (7)

Total Wholesale 419 320 99

(23)

ECO6419BO100930

sumvar1g00rm, summary

4/11/2000, 8:45 PM

EXH066-00217


=============
Page 3 of 46
=============

WHOLESALE DETAILS per above

(a) Gas trading, excluding originations:
Canada (gross margin)
  US (gross margin)
Europe (net of expenses)
Gas transport (Europe)
  Other (including HPL and expenses)

(b) Power trading, excluding originations:
NA - East (gross margin)
  NA - West (gross margin)
Europe
  Other (including expenses)

(c) Fair value Income:
Catalytica
ECT Investments
First World
Heartland Steel
  Hedge performance/S&P
Kafus
  Mariner - NA, ECM and El
NSM
  Papier Masson
Qualitech
Quanta
  Paladin - EUR
Techboard - EUR
  Rhythms (net of hedge amort)
Others (less than $6m)

(d) Asset selldowns and 125s:

  1st Qtr 1st Qtr
  2000 1999 Duff

18	52	(34)
56	(3)	59
(12)	10	(22)
2	2	-
(32)	(35)	3
32	26	6

(39)	66	(105)
91	3	88
102	71	31
(37)	(18)	(19)
117	122	(5)

	7	(7)
	9	(9)
29	13	16
	7	(7)
(14)	(47)	33
(23)	13	(36)
	8	(8)
	(9)	9
	6	(6)
-	(25)	25
26	-	26
(3)	(7)	4
-	(13)	13
17	19	(2)
(5)	1	(6)
27	(18)	45

Bammel Looper	- 10	(10)
Powder River	- 5	(5)
Guam	- 18	(18)
Italy/Turkey	- 12	(12)
Riverside (Teesside)	- 2	(2)
Other (including expenses)	5	5
	5 47	(42)

sumvar1g00rm, summary

ECO641960100931

4/11/2000, 8:45 PM

cI~

EXH066-00218


=============
Page 4 of 46
=============

WHOLESALE DETAILS per above

(e) Asset operations:
Elektro IBIT
  ESA operations
CALME operations
APACHI operations:
Batangas
  Hainan
Other
Equity earnings from:
  Europe
CIESAITGS
DPC Phase I
Eco Electrica
Korea (SK)
Transredes
Other international
  Europe management fees
JEDI management fee
EGEP operations
Expenses:
  Europe
South America
APACHI
Other

sumvarlqOOrm, summary

  12 Qtr 1 Qtr
  2000 19 1999 Diff

36	35 1
8	11 (3)
3	9 (6)
11	11 -
8	8 -
2	- 2
2	2 -
12	7 5
16	- 16
22	- 22
13	8 5
	4 (4)
9	1 8
2	2 -
5	5 -
4	- 4

(12)	(7)	(5)
(16)	(7)	(9)
(39)	(28)	(11)
(4)	-	(4)
82	61	21

ECO6419BO100932

4/11/2000, 8:45 PM

EXH066-00219


=============
Page 5 of 46
=============

Enron Corp
Significant Variances
(In Millions)

Gas Pipeline Group
Gross margin
Operating expenses (incl deprec)
Equity earnings:
Citrus
Northern Border
EOTT
Other

Other income:
Gains on sales
Interest lock
Conoco litigation
Other

Gas Pipeline Group

Portland General Group
Gross margin
Operating expenses (incl deprec)
Equity earnings
Other income:
  Reversal of Customer Choice costs
COLI
  Other
Other income

Portland General Group

12Qtr	1st Qtr	
2000	19 1999	Diff
201	181	20 (A)
(81)	(78)	(3)
6	6	-
2	2	-
(2)	-	(2)
1	-	1
7	8	(1)
		
	1	(1)
	9	(9)
	9	(9)
1	(4)	5
1	15	(14)
128	126	2

195	199	(4)
(124)	(117)	(7)
1	6	(5)
31	-	31
11	2	9
(9)	2	(11)
33	4	29
105	92	13

Retail Energy Services
Gross margin 127 45 82 (B)
Operating expenses (incl deprec) (112) (76) (36) (C)
Minority Interests (Omicron, EES) - 1 (1)
  1 (1) 2
Other income
  Enron Energy Services 16 (31) 47

Broadband Services
Gross margin
Operating expenses (incl deprec)
Other Income

Exploration and Production

sumvar1g00rm, summary

51 - 51 (D)
(51) - (51) (E)


  12 (12)

EC06419BO100933

4/11/2000, 8:45 PM

EXH066-00220


=============
Page 6 of 46
=============

Enron Corp
Significant Variances
(In Millions)

Corporate and Other
Corporate (including Co 099)
  Corporate expenses and other
Wessex FX gain
  Azurix earnings
ECM (primarily Project Steele)
EEDC
ECI

EREC
Clean Fuels operations

Corporate and Other

Total IBIT

Interest expense
Company-obligated preferred of subs
Minority interests:
Elektro
Rawhide
Cherokee
Whitewing
EOG

Pretax earnings
Income tax expense

Net Income

  1st
1 1st Qtr
  I FS-t-
  2000 1999 Dill

(55)	(24)	(31) (F)
-	33	(33)
(6)	(1)	(5)
7	7	-
-	(1)	1
	(4)	4
(54)	10	(64)
13	15	(2)
(3)	(11)	8
(44)	14	(58)

  624 533 91

161	175	(14)
18	19	(1)
11	12	(1)
14	14	-
10	-	10
-	13	(13)
	(6)	6
35	33	2
410	306	104
72	53	19

  338 253 85

(A) Gross margin decreased due to higher rates as a result of seasonality built into rate structure
(B) Gross margin increased due to MTM income on deals signed in 1 Q00 and investment earnings on the monetization of EMW warrants
(C) Operating expenses increased due to increased bonus and phantom stock expense
(D) Gross margin represents dark fiber sales ($30m), software sales ($10m) and MTM on Ventures ($10m)
(E) Operating expenses increased due to increased headcount (116 at 3/99 to over 600 at 3/00). Reported in Corp & Other 1 Q99
(F) Operating expenses increased due primarily to IT and advertising

sumvarlg00rm, summary

EC06419B0100934

4/11/2000, 5:45 PM
  c

EXH066-00221


=============
Page 7 of 46
=============

Enron Corp.
Wholesale Buckets

Subcategorv Description
SUMMARY

  2000 by Quarter 1999 by Quarter 00-99 Comparison 99-98 comparison
YTD IQ
  Year 4Q 3Q 2Q IQ Year 4Q 3Q 2Q IQ Incr (Decr) Incr (Deer) 98 Year lncr (Decr)

Commodity	Gas Trading	41.1 - -	- 41.1	187.2	41.9	74.5	12.7	58.1	(17.0)	(17.0)	151.6	35.6
Commodity	Power Trading	140.3 - -	- 140.3	368.2	102.6	42.3	108.8	114.5	25.8	25.8	291.8	76.4
Commodity	Other Trading	64.4 - -	- 64.4	72.6	7.0	54.9	(41.0)	51.7	12.7	12.7	(32.9)	105.5
	Commodity Sales & Services	245.8 - -	- 245.8	628.0	151.5	171.7	80.5	224.3	21.5	21.5	410.5	217.5
Merchant Activity	Income from Merchant Invest	149.8 - -	- 149.8	361.0	18.9	123.7	204.8	13.6	136.2	136.2	123.7	237.3
Mevchant Activity	Gains on Sales (incl 125s)	5.6 - -	- 5.6	294.0	28.2	84.2	134.7	46.9	(41.3)	(41.3)	559.9	(265.9)
	Merchant Activity	155.4 - -	- 155.4	655.0	47.1	207.9	339.5	60.5	94.9	94.9	683.6	(28.6)
operations, Dev & Constr	Asset Operations	82.0 - -	- 82.0	240.1	130.7	28.6	19.7	61.1	20.9	20.9	53.5	186.6
operations,Dov&Constr	Development & Construction	(17.1) - -	- (17.1)	(45.9)	(30.6)	4.0	(34.1)	14.8	(31.9)	(31.9)	(27.9)	(18.0)
	Operations, Dev & Constr	64.9 - -	- 64.9	194.2	100.1	32.6	(14.4)	75.9	(11.0)	(11.0)	25.6	168.6
	Tom] Assets & Invesonents	220.3 - -	- 220.3	849.2	147.2	240.5	325.1	136.4	83.9	83.9	709.2	140.0
UnallocatedEopense	UnalloeatedExpense	(47.3) - -	- (47.3)	(160.8)	(36.2)	(34.1)	(50.1)	(40.4)	(6.9)	(6.9)	(151.2)	(9.6)
	Total Wholesale	418.8 - -	- 418.8	1,316.4	262.5	378.1	355.5	320.3	98.5	31% 98.5 31%	968.5	347.9

ECO6419BO100935

  Buckets IQ(w, 1Q15)
EXH066-00222

36%


4/112otO, 7:44 PM 6


=============
Page 8 of 46
=============

Enron Corp.												
Wholesale Buckets		
2000 by Quarter			
1999 by Quarter			
00-99 Comparison	
99-98 comparison
									YTD	IQ		
Subcategory	Description	Year 4Q 3Q 2Q	IQ	Year	4Q	3Q	2Q	IQ	Incr (Deer)	Incr (Decr)	98 Year	Incr (Deer)
GAS TRADING		
8
17	
17
8	
78.8	
3.9	
4.8	
18.3	
51.8	
(34.0)	
(34.0)	
55.7	
23.1
NA Ga. Trading	Canada-Gas Trading	.
-	.
-	(33.0)	(1.0)	-	(32.0)	-	-	-	-	(33.0)
NA Gns Trading	Credit Reserve- Blue Range	55
7	55
7	130.7	38.2	60.2	35.1	(2.8)	58.5	58.5	159.6	(28.9)
NA GnsTrading	US-Gas Trading	.
5
2	.
5
2	(4
2)	2.3	(2.5)	(2.7)	(1.3)	6.5	6.5	(22.4)	18.2
NA Other Trading	Domestic Assets (HPL/LRC)	.
8 - - -
8	.
8
8	.
104.0	15.5	25.4	30.7	32.4	(23.6)	(23.6)	183.5	(79.5)
NA Ga_s Trading	Gas Origination [A below]
di
G	.
9)
(33	,
(33.9)	(175.6)	(61.4)	(45.8)	(35.2)	(33.2)	(0.7)	(0.7)	(202.2)	26.6
NA Trading Evg-	astra
ngexpenses	.
6 - - -
53	6
53	100
7	(2.5)	42.1	14.2	46.9	6.7	6.7	174.2	(73.5)
	NA	.	.	.
-	-	-	-	-	-	-	(3.7)	3.7
EUR Ga Trading	Balance Sheet Review
di
T
G	-
(12
5)	(12.5)	5.5	7.2	(9.6)	(1.6)	9.5	(22.0)	(22.0)	(17.7)	23.2
EVE Gaa Trading	as
ra
ng	.	2
4	9
4	2
5	2
2	3
2	2.4	-	-	9.2	0.2
EUR Gas Trading	Gas Transport Revenues	2.4	.	.	.	.	.					
EUR Gas Trading	Gas Origination
G
di	-
(3
9)	(3.9)	(7.4)	(1.2)	(3.3)	(2.2)	(0.7)	(3.2)	(3.2)	(8.0)	0.6
EUR Trading Eapensos	ng expenses
as tra
EUR	.
0) - - -
(14	(14.0)	7.5	8.5	(10.7)	(1.5)	11.2	(25.2)	(25.2)	(20.2)	27.7
SA Gas Trading	Gas Trading	.
1.6	1.6	(1.1)	(1.1)	-	-	-	1.6	1.6	(2.4)	1.3
SA Gaa Trading	Gas Origination- Cuiaba MTM	-	-	82.9	37.5
0
5	45.4
2
3	-	-
-	-
(0
1)	-
(0
1)		82.9
(2.8)
SA Trading EM-	Gas trading expenses	(0.1)	(0.1)	(2.8)	.
)
(	.
)
(	-		.
1
5	.
1
5	4)
(2	81.4
	SA	1.5 -	1.5	79.0	35.9	43.1	-	-	.	.	.	
APACH] Gas Trading	Gas Trading	-										
APACHIGasTrading	Gas Originations	-		-					-	-		-
APACHI Trading Expenses	Gas trading expenses	'									
-	
-
	APACHI	- -
1 - - -
41	41
1	-
187.2	-
41.9	-
74.5	-
12.7	-
58.1	(17.0)	-29% (17.0)	-29% 151.6	35.6 23%
	Gas trading	.	.									

	POWER TRADING	
t
P	
0)
(39	
(39.0)	
101.4	
5.3	
6.3	
24.0	
65.8	
(104.8)	
(104.8)	
122.8	
(21.4)
NA	Power Trading	ower-eas	.
91
3	91
3	47.8	11.9	21.1	12.1	2.7	88.6	88.6	79.1	(31.3)
NA	PowerTrading	Power - west (POE)	-
.	.						-	-	-	(L0)
NA	Power Trading	Other	22
7 - -	-
7
- 22	(1.0)
125.1	(1.0)
106.7	15.3	3.1	-
-	22.7	22.7	-	125.1
NA	Power Trading	Power Origination [B below]
P
di	.
(17
0)	.
(17.0)	(80.8)	(25.9)	(20.1)	(19.1)	(15.7)	(1.3)	(1.3)	(83.9)	3.1
NA	Trading Expenses	ng expenses
ower tra	.
58
0	0
- 58	192.5	97.0	22.6	20.1	52.8	5.2	5.2	118.0	74.5
EUR	P.-Trading	NA
Power Trading	.
102.2	.
102.2	127.7	24.9	29.0	3.2	70.6	31.6	31.6	134.1	(6.4)
EUR	PowerTrading	Power Origination IC below]	- -	- -	66.1	(9.7)	(6.5)	88.9	(6.6)	6.6
7
17	6.6
7
17	43.7
(4
0)	22.4
(5
0)
EUR	Trading Expenses	Power trading expenses	(18.9)	(18.9)	(9.0)	(3.4)	(2.7)	(1.7)	(1.2)	)
.
(	)
.
(	.	.
		EUR	83.3 -	- 83.3	184.8	11.8	19.8	90.4	62.8	20.5	20.5	173.8	11.0
SA	Power Trading	Power Trading	(0.4)	(0.4)	(1.5)	(1.6)	1.8	(1.7)	-	(0.4)	(0.4)	-	(1.5)
SA	Power Trading	Power Originations
di
P	
(0
1)	'
(0.1)	
(3.4)	
(2.3)	
(1,1)	
-		
(0.1)	
(0.1)		
(3.4)
SA	TradingExpen..	ng expenses
ower tra
SA	.
5) - -
(0	- (0.5)	(4.9)	(3.9)	0.7	(1.7)	-	(0.5)	(0.5)	-	(4.9)
APACHI PowerTrading	Power Trading	.
0.8	0.8	3.2	0.2	3.1	1.0	(1.1)	1.9	1.9	-	3.2
APACHI Power Trading	Power Originations
P
di	-
(1
3)	(1.3)	(7.4)	(2.5)	(3.9)	(1.0)	-	(1.3)	(1.3)		(7.4)
APAC	HI Trading Expeases	ng expenses
ower tra
APACHI	.
(0
5) - -	- (0.5)	(4.2)	(2.3)	(0.8)	-	(1.1)	0.6	0.6	-	(4.2)
		Power trading	.
140.3	140.3	368.2	102.6	42.3	108.8	114.5	25.8	23% 25.8 23%	291.8	76.4 261/.
	OTHER TRADING		
3
4	
4
3	
37.3	
16.3	
9.4	
3.9	
7.7	
(4.3)	
(4.3)	
8.3	
29.0
NA	OiherTrading	Coal Trading	.
0
5	.
5
0	49.5	-	14.0	-	35.5	(30.5)	(30.5)	28.3	21.2
NA	OtherTwding	Credit Reserve Adjustment
fHPLFV	.
1)
(7	.
(7.1)	(28.4)	(7.1)	(7.1)	(7.1)	(7.1)	-	-	(28.4)	-
NA	other Trading	Amorto	.
4
33	33
4	54.3	16.0	11.1	27.2	-	33.4	33.4	-	54.3
NA	OtherTrading	Equity Trading	.
28
3	.
28
3	91.2	23.3	24.6	21.2	22.1	6.2	6.2	74.2	17.0
NA	Other Trading	Interest & FX Books	.
-	.
-	(2.5)	(0.2)	(2.3)	-	-	-	-	-	(2.5)
NA	OmerTnrding
di
T
O
h	Other Trading
er Trading
Pa	2.9	2.9	21.9	1.0	8.5	8.6	3.8	(0.9)	(0.9)	11.1	10.8
NA	ra
ng
t
er
di
T
O
h	p
S02 Tradin	3.7	3.7	(6.8)	(4.0)	(3.4)	(0.2)	0.8	2.9	2.9	1.1	(7.9)
NA	er
ra
ng
t	g	5
7	5
7	13.4	2.6	4.6	1.5	4.7	1.0	1.0	5.5	7.9
NA	OtherTrading	Weather Trading
di
s
h
tr
O	.
(27
5)	.
(27.5)	(155.1)	(57.5)	(35.7)	(27.9)	(34.0)	6.5	6.5	(90.7)	(64.4)
NA	Trading Expenses	ng expen
es
t
er
a	.			9
6	23
7	27
2	5
33	14
3	14
3	9.4	65.4
		NA	47.8 -	- 47.8	74.8	.
)
(	.	.	.	.	.		

Buckets IQ(X), IQ(X)

EC06419BO100936

4/11/201X1,7:44 PM

7

EXH066-00223


=============
Page 9 of 46
=============

	Enron Corp.												
	Wholesale Buckets									
			2000 by Quarter			1999 by Quarter			00-99 Comparison	99-98 comparison
										YTD	IQ		
			4Q 3Q 2Q
Y	IQ	Year	4Q	3Q	2Q	IQ	Incr (Decr) Incr (Deer)	98 Year	Iricr (Decr)
	Subcategory	Description	ear									
ECM	Other Trading	Swap income - ENA	6.6	6.6	-	-	-	-	-	6.6	6.6	-	"
ECM	Trading Expenses	Expenses	-					-		
6
6	
6
6	
-	
"
		ECM	6.6 - - -	6.6	-	-	-	-	-	.	.		
					104
6	39
6	40.0	-	25.0	(25.0)	(25.0)	5.2	99.4
EUR	Other Trading	Credit Reserve Adjustment
ts
Oil P
d
C	-
4)
(28	(28.4)	.
(38.4)	.
(12.9)	(13.1)	(6.4)	(6.0)	(22.4)	(22.4)	(10.3)	(28.1)
EUR	OtherTrading	repaymen
ru
e	.						-	12
0	12
0	-	-
EUR	Other Trading	EES	12.0	12.0	-	-	-	-
-	-	.
5)
(3	.
(3.5)	-	-
EUR	Other Trading	EES Expenses	(3.5)
30
4	(3.5)
30.4	-
58.2	-
2.9	-
35.0	(8.6)	28.9	.
1.5	1.5	72.1	(13.9)
FUR	Other Trading	Global Trading	.
24
1	24
1	24.5	3.3	18.8	(5.0)	7.4	16.7	16.7	18.7	5.8
EUR	Other Trading	interest &FXBooks	.
0
2	.
0
2	9.6	4.6	5.0	0.8	(0.8)	1.0	1.0	(5.4)	15.0
EtJR	Other Trading	Other Trading	.	.				
-	-	-	-	40.5	(40.5)
EUR	Other Trading	Prudency Release	-
23
9	23.9	50.1	30.2	9.6	4.1	6.2	17.7	17.7	16.4	33.7
EUR	Other Trading	Spread Options	.
0
1	0
1	(5.0)	(1.0)	(1.3)	2.0	(4.7)	4.8	4.8	-	(5.0)
EUR	OtherTmding	Sutton Bridge
Utiliti
id
T	.
(0
4)	.
(0.4)	(13.2)	1.0	(11.8)	(10.5)	8.1	(8.5)	(8.5)	-	(13.2)
EUR	Other Trading	e
es
eess
e
b
l E
Gl	.
9)
(9	(9.9)	(49.3)	(10.5)	(13.3)	(12.5)	(13.0)	3.1	3.1	(35.8)	(13.5)
ELM	Trading Expenses	a
xpens
s
o
di
O
h	.
8)
(27	(27.8)	(143.3)	(40.6)	(37.7)	(32.1)	(32.9)	5.1	5.1	(143.7)	0.4
FUR	Trading Expenses	ng expenses
t
er tra	.	7
20	(2
2)	6
16	2
31	(68.2)	18.2	2.5	2.5	(42.3)	40.1
		EUR	20.7 -	.	.	.	.						
SA	Other Trading	Other Trading	
2
2	'
(2
2)						
(2.2)	
(2.2)	
_	
_
SA	Trading Expenses	Expenses	(
)
.	.
2
2			_			(2.2)	(2.2)		
		SA	(2.2) -	(
)
.									
APACHI Other Trading	Other Trading									-	-	
APACIR Trading Expenses	Expenses											
		APACHI											
	T
di
O
h	EES to Retail	(8.5)	(8.5)	-	-	-	-		(8.5)	(8.5)	-	
Eli.,	er
ra
ng
t							-	-	5) #DIV/U!
(8	(8.5) #DIV/U!	-	- #DIV/11!
		Elims	(8.5) - - -	(8.5)	-	-	-			.			
			4 - - -
64	64.4	72.6	7.0	54.9	(41.0)	51.7	12.7 25%	12.7 25%	(32.9)	105.5 -321
		Other Trading	.										
		TOTALCOMMODITY	245.8 - -	245.8	628.0	151.5	171.7	80.5	224.3	21.5 10%	21.5 10%	410.5	217.5 53%
													
	INCOME FROM MERCHANT INVEST	
8 - - -
11	
8
11	
(1.2)	
17.4	
36.5	
(61.6)	
6,5	
5.3	
5.3	
53.0	
(54.2)
NA	Fair Vela, income	Fair value income ID below]	.	.
-	136
0	-	-	136.0	-	-	-	-	136.0
NA	Fair Value income	Rhythms FV - r.class	-
110
5	110.5	.
10.7	(23.9)	17.9	(3.6)	20.3	90.2	90.2	-	10.7
NA	Egoeam-FVvehicles	JEDI	.
8
39	8
39	91.5	6,1	(13.8)	86.9	12.3	27.5	27.5	-	91.5
NA	Egoeam-PVvehlcles	JEDIII	.
0
7	.
0.7	(0.5)	(I.1)	1.9	(1.3)	-	0.7	0.7	-	(0.5)
NA	Equenm-FVvehicle.	Enserco	.	-	1
6	0.1	-	(0.6)	2.1	(2.1)	(2.1)	(22.0)	23.6
NA	Equeom-FVvehicles	Other equity earnings	-	-	.
4
6	-	0.6	1.2	2.8	(2.8)	(2.8)	6.1	(1,5)
NA	Swcturing income	Other structuring income	-		.		-	-	-	-	-	8.5	(8.5)
NA	Structuring income	Paperchase IN oranda)	-	-	-	-						7 8	(7.8)
NA	Strctu ing income	Washington Water Power						-	-	-	-	46.0	(46.0)
NA	Stmeturing income	Chewco (JEDI restructure)	-	-	-
1.8	2.9	(1.2)	0,1	-	-	-	17.3	(15.5)
NA	Finance origination	Finance originations	-
5
2	5
2	77.6	39.1	4.2	15.1	19.2	(14.0)	(14.0)	20.4	57.2
NA	Accnnl ioc on merch invest	Accrual income on merch invest	.	.
-	7
0	-	-	-	7.0	(7.0)	(7.0)	0.5	6.5
NA	Other Portfolio Related	ECM Reimb of IEDI ENE Puts	-
7
2	(79
2)	.
(80
7)	-	-	(31.5)	(49.2)	(30.0)	(30.0)	-	(80.7)
NA	Other Portfolio Related	ENE puts	)
9.
(	.
-	.
1
9	-	-	-	9.1	(9.1)	(9.1)	-	9.1
NA	other Ponl'olioRelated	ECT Investments	-		.							7.1	(7.1)
NA	Other Portfolio Related	Repop Write Down (see ECM)
Oth	-
(6
4)	(6.4)	(2.9)	(4.5)	(1.5)	1.1	2.0	(8.4)	(8.4)	(3.2)	0.3
NA	Other PonfolioRelated	er
NA
E	.
(41
2)	(41.2)	(93.6)	(32.8)	(21.0)	(19.2)	(20.6)	(20,6)	(20.6)	(99.2)	5.6
NA	Expenses-Merchant invest	xpenses-
NA	.
41.2 - -	41.2	161.0	3.3	23.6	122.6	11.5	29.7 258%	29.7 258%	42.3	118,7 281%

  nockeu IQW, IQtxt
EXH066-00224

ECO6419BO100937 4/112ntn, 7:44 PM


=============
Page 10 of 46
=============

Enron Corp.
Wholesale Buckets

	Subcategorv	Description
ECM	Fair Value income	Fair value income IE below)
ECM	Other Portfolio Related	JEDI equity earn/stock swaps
ECM	Equ cam- FV vehicles	JEDI Puts -FV
ECM	Other Portfolio Related	JEDI NPI
ECM	Equ cam-FV vehicles	JEDI 11 EES equity earnings
ECM	Structuring income	JEDI Restructuring
ECM	Equ rare- FV vehicles	Condor equity earnings
ECM	Accrual in, on march invest	Cashco interest income
ECM	Other Portfolio Related	Chewbacca (JEDI restructure)
ECM	Other Portfolio Related	Condor income allocation
ECM	Other Portfolio Related	Project Funding-interest income
ECM	Other Portfolio Related	Flash to actual
ECM	Other Portfolio Related	JILP Amortization
ECM	Other Portfolio Related	Marlin Admin fees
ECM	Other Portfolio Related	Other earnings
ECM	Other Portfolio Related	NSM Debt writedown
ECM	Other Portfolio Related	Portfolio adjustments
ECM	Other Portfolio Related	Project Ghost write-off
ECM	Other Portfolio Related	Project Tomas
ECM	Other Portfolio Related	Promigaa-COP
ECM	Other Portfolio Related	Rectos to El (Poland)
ECM	Outer Portfolio Relate)	Repap Write Down (see NA)
ECM	Other Portfolio Related	Rhythms FV--loss
ECM	Other Portfolio Related	Warburg Dillon Read-Stock Hedge
ECM	Other Portfolio Related	Wessex - FX gain
ECM	Expenses - Merchant invest	Expenses - ECM
		ECM
EUR	Fair Velae income	Paladin FV
St1R	Fair Value income	Teehboard FV
EUR	Expense- Merchantinveat	Expenses -EUR
		EUR
SA		
		SA
India		
		India
CALMS	Accrual inc on memh invest	Promigas Dividends
CALMS		
		CALME
APACIB		
		APACHI
El	Fair Value income	Fair value income [F belowl
El	Finance originations	Finance originations
El HQ	Other Portfolio Refuted	Poland Fees
El	Expenses- Merchant invest	Expenses - El

ECI	Fair Value income	Rhythms FV
Elims	Other Portfolio Related	Rhythms hedge amort - reclass
ECI	Fair Value income	Sycamore FV
		ECI
Eli..	Fair Value income	Rhythms FV -rec]ass
Elima	Other Portfolio Related	Rhythms hedge amort - reclass
Slims	Equity earnings	Dom Rep write-off
Slims	Other Portfolio Related	Dom Rep write-off
Slims	Other Portfolio Related	Reclass ECM Flash to actual
Slims	Other Portfolio Relate)	Condor equity earnings
Elims	Other Portfolio Related	Peregrine reclass
Slims	Other Portfolio Related	Reclass ECI comp expense
		Elims

  Buckets IQull, IQO1
EXH066-00225

Merchant Invest

2000 by Quarter			1999 by Quarter			00-99 Comparison		99-98 comparison	
							YTD		IQ				
Year 4Q 3Q 2Q	IQ	Year	4Q	3Q	2Q	IQ	Incr (Decr)		Incr (Decr)		98 Year	Incr (Decr)	
													
17.1 - - -	17.1	23.4	-	43.0	-	(19.6)	36.7		36.7		8.1	15.3	
79.2	79.2	80.6	-	12.2	31.5	36.9	42.3		42.3		-	80.6	
-		(3.5)	(2.4)	-	-	(1.1)	1.1		1.1		8.6	(12.1)	
24.9	24.9	(10.8)	12.8	(25.9)	0.7	1.6	23.3		23.3		-	(10.8)	
(0.6)	(0.6)	-	-	-	-	-	(0.6)		(0.6)		-	-	
-		(17.9)	(17.9)	-	-	-	-		-		26.6	(44.5)	
15.8	15.8	-	-	-	-	-	15.8		15.8		-	-	
(0.2)	(0.2)	2.2	-	0.7	0.3	1.2	(1.4)		(1,4)		-	2.2	
(1.0)	(1.0)	-	-				(1.0)		(1.0)		19.9	(19.9)	
(23.2)	(23.2)	-	-	-	-	-	(23.2)		(23.2)		-	-	
		4.5	4.5	-	-	-	-		-		-	4.5	
		9.0	-	-	3.4	5.6	(5.6)		(5.6)		-	9.0	
(0.5)	(0.5)	(6.0)	(1.5)	(1.5)	(1.5)	(1.5)	1.0		1.0		(5.7)	(0.3)	
3.0	3.0	6.9	6.9	-	-	-	3.0		3.0		-	6.9	
0.4	0.4	(0.1)	0.3	1.0	(0.5)	(0.9)	1.3		1.3		-	(0.1)	
-		(7.2)	-	-	(0.1)	(7.1)	7.1		7.1		-	(7.2)	
				13.0	(13.0)	-	-		-		-	-	
(2.3)	(2.3)	-	-	-	-	-	(2.3)		(2.3)		-		
											59.2	(59.2)	
											0.9	(0.9)	
											(10.0)	10.0	
											(7.1)	7.1	
		34.0	-	-	34.0	-	-		-		-	34.0	
		2.1	2.1									2.1	
		33.8	-	-	33.2	0.6	(0.6)		(0,6)		6.9	26.9	
(2.8)	(2.8)	(39.2)	(15.2)	15.9	(27.9)	(12.0)	9.2		9.2		(14.1)	(25.1)	
109.8 - - -	109.8	111.8	(10.4)	58.4	60.1	3.7	106.1	2868%	106.1	2868%	93.3	18.5	20i
(3.1)	(3.1)	2.5	6.3	2.0	1.0	(6.8)	3.7		3.7		1.5	1.0	
-	-	(14.3)	-	0.5	(1.8)	(13.0)	13.0		13.0		0.2	(14.5)	
0.7	0.7	-	-	-	-	-	0.7		0.7			-	
(2.4) - - -	(2.4)	(11.8)	6.3	2.5	(0.8)	(19.8)	17.4	-88%	17.4	-80	1.7	(13.5)	-794%
													
- -			-			-		#DIV/O!		#DIV/B!	-	-	#DIV/B!
													
- - - -	-	-		-	-	-		#DIV/11!	-	#DIV/ll!		-	#DIV/O!
1.2	1.2	7.9	2.3	1.0	2.5	2.1	(0.9)		(0.9)		9.5	(1.6)	
													
1.2 - - -	1.2	7.9	2.3	1.0	2.5	2.1	(0.9)	-43%	(0.9)	-43%	9.5	(1.6)	-17%
													
													
- - -	-	-	-		-	-	-	#DIV/Il!	-	#DIV/11!		-	#DIV/0!
		(4.4)	-	-	-	(4.4)	4.4		4.4		(7.5)	3.1	
		4.8	-	-	3.1	1.7	(1.7)		(1.7)		-	4.8	
		-	-	-	-	-	-		-		16.0	(16.0)	
			-	-	-	-	-				(31.6)	31.6	
		0.4	-	-	3.1	(2.7)	2.7	-100/	2.7	-100%	(23.1)	23.5	-1B2%
		347.9	77.3	(34.8)	305.4	-	-		-		-	347.9	
-		9.8	9.8	-	-	-	-		-			9.8	
		357.7	87.1	(34.8)	305.4	-	-	#D1wO!	-	#DIV/0!	-	357.7	#D1V/l!
		(363.5)	(66.0)	73.0	(189.3)	18.8	(18.8)		(18.8)		-	(163.5)	
-		(30.5)	(10.5)									(30.5)	
				14.0	(14.0)	-	-		-		-	-	
-		(14.0)	-	(14.0)	-	-	-		-		-	(34.0)	
-		(31.8)	-	-	(11.8)							(11.8)	
		9.2	9.2	-	-	-	-		-		-	9.2	
		(2.4)	(2.4)	-	-	-	-		-		-	(2.4)	
		(73.0)	-	-	(73.0)	-	-		-		-	(73.0)	
		(266.0)	(69.7)	73.0	(288.1)	18.8	(18.8)	-too%	(18.8)	-100%	-	(266.0)	#DIV/0!
149.8 - - -	149.8	361.0	18.9	123.7	204.8	13.6	136.2	1001%	136.2	1001%	123.7	237.3	192%
												4/11211(x/,	7:44 PM

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9


=============
Page 11 of 46
=============

Enron Corp.															
Wholesale Buckets															
		2000 by Quarter			1999 by Quarter			00-99 Comparison		99-98 comparison	
									YTD		IQ				
Subcategorv	Description	Year 4Q 3Q 2Q	IQ	Year	4Q	3Q	2Q	IQ	Incr (Decr)		Incr (Decr)		98 Year	Incr (Decr)	
															
GAINS ON SALES			
-	
10
0	
-	
-	
-	
10.0	
(10.0)		
(10.0)		
27.0	
(17.0)	
NA Selldowns/Selee	Bammol Loop. (125)	-		.
-	-	-	-	-					40.0	(40.0)	
NA Selldowns/Sales	Mid Texas (Cyclone 125)	-	-												
NA Selldowoc/Seles	Powder River (125)	-	-	16.6	-	-	11.8	4.8	(4.8)		(4.8)		24.2	(7.6)	
NA Selldowns/Sales	Pittsburg Power Plant	-	-	27.0	-	27.0	-	-	-		-		-	27.0	
NA Sehdowwsales	Project Rook (125)	-	-	27.4	6.9	20.5	-	-	-		-		-	27.4	
NA Selldowne/Sules	Wind River (125)	-	-	16.9	-	16.9	-	-	-		-		4.3	12.6	
NA Selldowns/Seles	Hanover Compressor Sale	-	-	1.2	1.2	-	-	-	-		-		6.3	(5.1)	
		-	-	99
1	8
1	64
4	11.8	14.8	(14.8)	-loo/	(14.8)	-100%	101.8	(2.7)	-3%
	NA	- -		.
-	.	.
-	-	-	-		-		49.0	(49.0)	
ECM Selldowas/Sales	Northern Border (125)	-	-										-	7
8	
ECM Selldoww sSelce	Poland	-	-	7.8	7.8	-	-	-						.	
					7
8				-		-		49
0	(41.2)	
	ECM	- - - -	-	7.8	.	-	-	-					.		
FUR Selidowns/Sala	Bitterfeld	-		4.8	4.8	-	-	-	-		-		-
-	4.8
5
7	
EIYR Selldo o/Sala	Poland	-		7.5
-	7.5
-	-
-	-
-	-
-	-
-		-		85.0	.
(85.0)	
FUR SelldowWSales	Riverside 3/4 (125)	-		0
2			-	2
0	0)
(2		(2
0)		-	2.0	
FUR Selldowns/Sala	Riverside 5 (125)	-		.	-	-		.	.		.				
				-	-	-	-	-	-		-		21.4	(21.4)	
EUR SelldowWSales
EUR Selldo.WSelee	Sutton Bridge 3 (125)
Sutton Bridge 4 (125)	-		39.0	-	0.3	38.7	-	-		-		-	39.0	
	EUR	- - - -	-	53.3	12.3	0.3	38.7	2.0	(2.0)	-100%	(2.0)	-100%	106.4	(53.1)	-50%
SA Selldowns/Sales	Cuiaba	-		(1.6)	-	(1.6)	-	-	-		-		-	(1.6)	
SA SeIWowWSeles	Expenses	-		-	-										
			-	6)
(1	-	6)
(1	-	-	-	1DN/0!	-	SDIV/0!	-	(1.6)	sDIV/ll!
	SA	- - - -		.		.									
India Seildowns/Sales		-		-											
India Selldowoe/Sales	Expenses			-	-	-	-	-	-		-		-	-	
	India	- - - -	-		-	-	-	-	-	0D1V/0!	-	PDIV/11!	-	-	0DIV/O!
				-	-	-	-	-	-		-		166.6	(166.6)	
CALME SeltdowWSslea	Puerto Rico (Churchill 125)	-	-												
CALME Selldowns/Sales	Eco Electrica	0.3	0.3	-	-	-	-	-	0.3		0.3		-	-	
CALME SelldowWSales	Expenses	-	-	-	-	-									
	ME	3 - - -
0	0
3	-	-	-	-	-	0.3	NDIV/01	0.3	HDIVI0!	166.6	(166.6)	-I00%
	CAL	.	.	14
0	-	-	-	14.0	(14.0)		(14.0)		-	14.0	
APACHI Selldowns/Sales	Guam (125)	-		.											
APACm Selldowns/Sales	Expenses	'													
		-	-	14
0	-	-	-	14.0	(14.0)	-100%	(14.0)	-100%	-	14.0	ODIV/0!
	APACHI	- - -		.
0
5	-	-	-	0.5	(0.5)		(0.5)		-	0.5	
El HQ Selldownsrsales	Guam	-		.
0
89	-	6
0	75.3	7.7	(7.7)		(7.7)		199.5	(110.5)	
El HQ Selldowns/sala	ltaly/rurkey(125)	-		.
-	-	.
-	-	-					(63.4)	63.4	
El Selldowns/Sela	Expenses	-	-	89
5	-	6
0	75.3	8.2	(8.2)	100% % o	(8.2)	<00	136.1	(46.6)	34i,
EE&CC Sntldowns/Sales	El
Poland	- -
1.3	1.3	.
-	-	.
-	-	-	1.3		1.3		-	-	
EERCC Selldowns/Saks	India Phase II	3.2	3.2	-	-	-	-		3.2		3.2		-	-	
EE&CC Selldowns/Sales	Puerto Rico	0.8	0.8	-	-	-	-	-	0.8		0.8		-	-	
				4
0	-	-	-	4.0	(4.0)		(4.0)		-	4.0	
Eeecc Selldowoe/SoIes
EE&CC	Guam	-		.
12
8	
-	
-	
8.9	
3.9	
(3.9)		
(3.9)		
-	
12.8	
Selldowns/Sales	Italy/rurkey(125)	-		.										11
7	
EE&CC Selldowns/Sela	Sutton Bridge (defconstr rev)	-		11.7	-	11.7							-	,
3
4	
ndow
s/Sela
EE&CC S	Teesside (defconstr rev)	-		3.4	-	3.4	-	-	-		-			.	
e
n			5
3	31
9	-	15
1	8
9	7
9	(2.6)	-33%	(2.6)	-33%	-	31.9	aDiv/0!
	EE&CC	5.3 - -	.	.		,	.	.							
		6 - -
5	5.6	294.0	28.2	84.2	134.7	46.9	(41.3)	-88%	(41.3)	-88%	559.9	(265.9)	-47
	Gains on sales (incl 125)	.													
ASSET OPERATIONS		
5
1	
5
1	
20
0	
4.5	
5.3	
5.1	
5.1	
-		
-		
23.0	
(3.0)	
ECM Opentiono	JEDI Mgmt Fee	.	.
-	.
-		-	-	-	-		-		0.1	(0.1)	
ECM Operations	Other
ECM	-
5.1 - - -	5.1	20.0	4.5	5.3	5.1	5.1	-	0i	-	0%	23.1	(3.1)	-13
	t
A	7
2	2.7	(3.0)	(0.7)	(1.8)	(1.2)	0.7	2.0		2.0		(2.1)	(0.9)	
Etm Openuoos
ti
O	sse
s
Enrici	.
(4.1)	(4.1)	(9.5)	(3.7)	(1.7)	(6.4)	2.3	(6.4)		(6.4)		(11.9)	2.4	
ons
EUR
pera
FUR Opentuon	Equity Earnings	7.0	7.0	18.6	15.5	1.2	1.7	0.2	6.8		6.8		17.3	1.3	
ti	Mana
ement Fees	2.2	2.2	10.7	3.7	4.0	1.5	1.5	0.7		0.7		9.9	0.8	
ons
FUR Opera
ti
s
UR O	g
Expenses	(12.8)	(12.8)	(50.3)	(20.3)	(15.8)	(7.0)	(7.2)	(5.6)		(5.6)		(36.6)	(13.7)	
pero
on
E	EUR	(5.0) - - -	(5.0)	(33.5)	(5.5)	(14.1)	(11.4)	(2.5)	(2.5)	10(1	(2.5)	1oo'z.	(23.4)	(10.1)	43/.

  Buckets IQ0U, IQIxI ECO6419BO100939 411112M), 7!44 FM
EXH066-00226


=============
Page 12 of 46
=============

Enron Corp.															
Wholesale Buckets		
2000 by Quarter			
1999 by Quarter			
00-99 Comparison		
99-98 comparison	
									YTD		IQ				
Subcategorv	Description	Year 4Q 3Q 2Q	IQ	Year	4Q	3Q	2Q	IQ	Incr (Decr)		Incr (Deer)		98 Year	Incr (Decr)	
SA Operations	Elektro IBIT	36.2	36.2	110.6	31.9	6.7	37.0	35.0	1.2		1.2		-	110.6	
		5
7	7.5	22.2	9.2	(11.2)	13.0	11.2	(3.7)		(3.7)		-	22.2	
SA Operations	Operations	.
12
2	12
2	31.8	7.8	9.7	7.3	7.0	5.2		5.2		38.2	(6.4)	
SA operations	Equity Earnings-TGS/CIESA	.	.
-	4
13	3
3	2.3	3.9	3.9	(3.9)		(3.9)		6.0	7.4	
SA Operations	Equity Earnings-Transredes	-
2
0	2
0	.
3.4	.
3.5	(0.2)	-	0.1	1.9		1.9		5.0	(1.6)	
SA Operations	Equity Earnings-Other	.	.
-	(1.5)	(3.9)	0.3	6.0	(3.9)	3.9		3.9		-	(1.5)	
SA Operations	Equit'Eamings-CEG/Rio/Gaspart	-
16
2	(16
2)	(4
8)	1.7	12.7	(12.1)	(7.1)	(9.1)		(9.1)			(4.8)	
SA 0po efvonspense	Expenses	.
)
(
7 - - -
41	.
7
41	.
175.1	53.5	20.3	55.1	46.2	(4.5)	-10%	(4.5)		49.2	125.9	256%
erations
O
I
di	SA
Operations	.
2.0	.
2.0	7.0	6.4	1,7	0.7	(1.8)	3.8		3.8		-	7.0	
p
n
a
India Operation,	Equity Earnings-Dabhol 1	16.4	16.4	30.0	19.6	7.8	2.6	-	16.4
2
6		16.4
6)
(2		
-	30.0
3)
(12	
ense
Op-lion x
di
I	Expenses	(2.6)	(2.6)	(12.3)	(6.2)	(3.5)	(2.6)	-	.
)
(		.			.	
p
a
n		8 - - -
15	15
8	24.7	19.8	6.0	0.7	(1.8)	17.6	-978%	17.6	-978%	-	24.7	#DIV/01
	India	.
3
4	.
3.4	46.1	30.6	(5.4)	12.2	8.7	(5.3)		(5.3)		-	46.1	
CALME operations	Operations	.
5
3	3
5	(1.2)	(7.2)	1.5	1.7	2.8	2.5		2.5		-	(1.2)	
CALMS Operations	Equity Earnings-Other	.	.					-	21
9		9
21		-		
CALMS Operations	Equity Eamings-Eeo Electrica	21.9	21.9
0
9	-
9
7	-
1
4	-
4
3	-
3
0	0.1	.
0.8		.
0.8		-	7.9	
CALMS operations	Equity Earnings-Centragas	0.9
-	.	.
2.6	.
(3.2)	.
13.4	.
(4.7)	(2.9)	2.9		2.9		-	2.6	
CALMS Op-ti-pen-	Expenses	5 - - -
31	5
31	55.4	21.6	12.9	12.2	8.7	22.8	262%	22.8	262%		55.4	#DIVio1
	CALME	.
11
5	.
11.5	10.8	-	-		10.8	0.7		0.7		-	10.8	
APACFB Operations	Batangas Power	.	7
9	7
5	-	-	-	7.5	0.4		0,4			7.5	
APACH Operations	Hainan	7.9
2
0	.
2.0	.
100.4	106.6	(9.5)	(3.9)	7.2	(5.2)		(5.2)		-	100.4	
APACH! operations	Other	.
1	1
1	4
9	2
2	0.8	0.7	1.2	(0.1)		(0.1)		4.4	0.5	
APACHIOpmtions	Equity Earnings-Other	1.	.
5
12	.
11
7	.
0
1	4
1	(1.1)	7.7	4.8		4.8			11.7	
APACHI Operations	Equity Earnings-SK Enron
E	12.5
8)
(38	.
(38.8)	.
(122.1)	.
(104.1)	.
8.8	0.4	(27.2)	(11.6)		(11.6)		-	(122.1)	
APACHI Opmtionseopense	xpenses
APACHI	.
8) - - -
(3	(3.8)	13.2	5.7	4.2	(3.9)	7.2	(11.0)	-153%	(11,0)	-153%	4.4	8.8	2)1)1%
	h
O	.
1)
(5	(5.1)	(52.4)	(13.6)	(6.1)	(31.4)	(1.3)	(3.8)		(3.8)		(5.2)	(47.2)	
El Operations	t
er	.		13.2	1.0	(1.8)	12.6	1.4	(1.4)		(1.4)		15.3	(2.1)	
EI operations	EquityEemings
S
J	-
(2
3)	(2.3)	(8.9)	(2.2)	(2.5)	(2.3)	(1.9)	(0.4)		(0.4)		(9.9)	1.0	
El HQ Operations	oan
an
El	.
(7.4) - -	(7.4)	(48.1)	(14.8)	(10.4)	(21.1)	(1.8)	(5.6)	311%	(5.6)	311%	0.2	(48.3)	-241501,
EGEP Operations	UP operations	33.9	33.9	41.2	27.9
1	13.3
5
7	-	-
-	33.9
8)
(29		33.9
(29.8)		-
-	41.2
(26.7)	
EGEP Opm)ions	Expenses	(29.8)	(29.8)
4
1	(26.7)
14
5	(2
.0)
6
9	.
(
)
7
6	-
-	-	.
4.1	#DIV/0!	4.1	#DIV/O!	-	14.5	#DIV/0!
	EGEP	4.1 -	.	.
140
0	.
97.0	.
32.2	10.8	-	-		-		-	140.0	
ECI Opee)ions	Dark fiber & software sales	-
-		.
2.5	(2.6)	4.6	0.5	-	-		-		-	2.5	
ECI Operations	Equity earnings	-		(120.7)	(55.4)	(37.0)	(28.3)	-	-		-		-	(120.7)	
ECI Operations	Expenses	- -	-	21
8	39.0	(0.2)	(17.0)	-	-	#DIV/01		#DIV/0!		21.8	#DIV/)!
	ECI			.
(3.0)	-	(3.0)	-	-	-		-		-	(3.0)	
Eli., Opmtions	COS adjustment	- -	-	(3.0)	-	(3.0)	-	-	-	#DIV/0!	-	#DIV/II!	-	(3.0)	#DIV/0!
	Slims	-	82
0	240
1	130
7	28.6	19.7	61.1	20.9	34%	20.9	34%	53.5	186.6	349%
	Asset Operations	82.0 - - -	.	.	.										

DEVELOPMENT & CONSTRUCTION									-		-	-			
EUR Dev & Cons)	Sutton Bridge		-			
-	
-	
-	-
-		
#DIV/Ill	
-	
#DIV/01 -	
-	
#DIV/)!	
		EUR	- - -	-	-											
SA Dev & Cons)	Dev fees
E		-
(3
5)	
(3.5)	
(37.2)	
(19.1)	
(3.2)	
(7.2)	
(7.7)	
4.2		
4.2	
-	
(37.2)		
SA Dev&Cons)	xpenses		.	-	-	(1.0)	1.0	-	-			-	-	-		
SA Do & Cons)	CESP Fx gain (loss)		-											'		
SA Dev & Coast	Interest income		-
3
5	-
- (3
5)	-
2)
(37	-
(20.1)	(3.4)
(5.6)	3.4
(3.8)	-
(7.7)	-
4.2	-55%	-
4.2	-
-55% -	(37.2)	aDIV/0l	.
		SA	) -
.
(	.	.											Q>1
India Do & Cons)	Dev fees
E		-
(4
4)	(4.4)	(9.7)	(4.9)	(2.6)	(1.0)	(1.2)	(3.2)		(3.2)		(9.7)		O
India Dev&Cons)	xpenses	dia
I	.
4) - -
(4	- (4.4)	(9.7)	(4.9)	(2.6)	(1.0)	(1.2)	(3.2)	267%	(3.2)	267% -	(9.7)	#DIV/ol	C=
		n	.
I
1	I.1	6.3	-	-	(0.2)	6.5	(5.4)		(5.4)	-	6.3		CID
CALMS Don & coast	Dev fees		.
(8
4)	(8.4)	(13.9)	(4.8)	(1.7)	(4.2)	(3.2)	(5.2)		(5.2)	-	(13.9)		
CALMS Dev & Const	Expenses		.	-	2
3	0.3	(l.l)	4,0	-	-		-	-	3.2		CO
CALMS Do &Cons)	Interest income		-
-		,
3.3	(0.3)	0.2	3.4	-	-		-	-	3.3		C
CALMS Dev & Coast	Other fees			(7
3)	(1
1)	(4
8)	(2.6)	3.0	3.3	(10.6)	-321%	(10.6)	-321% -	(l.1)	#DIV/0!	W
		CALME	(7.3) - -	.
-	.	.										
APACHI Dev & Coast	Dev fees		-		-	-				-		-	-	-		
APACHI Des & Const	Expenses		-			
-	-
-	-
-	-
-	
-	
#DIV/0l	
-	
#DIV/0l -	
-	
#DIV/01	
		APACHI	- - -	- -	-											
														4/11/20IXI, 7:44 PM	`

  Buckets IQIX), IQIX)
EXH066-00227


=============
Page 13 of 46
=============

Enron Corp.														
Wholesale Buckets		
2000 by Quarter			
1999 by Quarter			
00-99 Comparison		
99-98 comparison	
									YTD	IQ				
Subcategorv	Description	Year 4Q 3Q 2Q	IQ	Year	4Q	3Q	2Q	IQ	Incr (Deer)	Incr (Deer)		98 Year	Incr (Decr)	
						2.1	(2.1)	-	-	-		8.1	(8.1)	
El De, & Const	Interest income	-		2)
(8	-	6.7	(14.9)	-	-	-		(95.9)	87.7	
El Dev & Const	Dev exp (start-up costs write-off)	-
-		.
(41.4)	(13.4)	2.0	(23.5)	(6.5)	6.5	6.5		-	(41.4)	
El Dev & Coma	Expenses (incl HQ allot)	- - -	-	(49
6)	(13.4)	10.8	(40.5)	(6.5)	6.5	-100% 6.5	-100%	(87.8)	38.2	-44%
EE&CC Dev & Const	El
Aceroven - EE&CC	-
3.4	3.4	.
6.2	3.3	2.9	-	-	3.4	3.4
0
6		-
-	6.2
4
9	
EE&CC D. & Con.	Cuiabo - EE&CC	0.6	0.6	4.9	1.5	2.2	1.2	-	0.6	.		-	.
4
6	
EE&CC Dev&Coon	Demar- EE&CC	-		4.6
1
9	(0.1)
-	4.7
0.6	-
0.4	-
0.9	-
(0.9)	-
(0.9)		3.3	.
(1.4)	
EE&CC Dev & Con.	Guam - EE&CC	-		.					3
8	3
8		-	-	
EE&CC Dev & C-.	India Phase 11 - EE&CC	3.8	3.8
1
3	-
13
5	-
9
2	-
7)
(0	-
2.4	-
2.6	.
(1.3)	.
(1.3)		2.1	11.4	
EE&CC Dev&Conct	Nepco-Other - EE&CC	1.3	.	.	.
-	.
-	-	-	-	-		6.0	(6.0)	
EE&CC Den & Coo.	Nepco -Pakistan - EE&CC	-	2
0	-
0
9	5
1	0
6	1.8	1.5	0.5	0.5		(5.7)	14.7	
EE&CC D. & Coast	Other- EE&CC	2.0	.	.
2
3	.
0
2	.
0.4	1.7	-	-	-		-	2.3	
EE&CC Den & C-1	Poland - EE&CC
EE&CC
P
Ri	-
(13
0)	(13.0)	.
1.3	.
(7.4)	(2.9)	1.7	9.9	(22.9)	(22.9)		19.6	(18.3)	
EE&CC Den&Con.	uerto
co-	.		3
5	-	(3.8)	-	9.1	(9.1)	(9.1)		15.4	(10.1)	
EE&CC De, &Coa.	Sutton Bridge- EE&CC	-		.	-	-				-		13.3	(13.3)	
EE&CC Den & Con.	Teesside (def constr rev) - EE&CC	-		(0.3)	0.8	-	(4.0)	2.9	(2.9)	(2.9)		5.9	(6.2)	
EE&CC Der & Coo.	Turkey (constr) - EE&CC	-		3
0	-	-	3.0	-	-	-		-	3.0	
EE&CC Dm & Con.	Westinghouse settlement - EE&CC
EE&CC	-
9) - - -
(1	(1.9)	.
51.7	12.6	4.0	8.2	26.9	(28.8)	-107% (28.8)	-107%	59.9	(8.2)	-14%
		.
1) - - -
(17	(17.1)	(45.9)	(30.6)	4.0	(34.1)	14.8	(31.9)	-216% (31.9)	.216%	(27.9)	(18.0)	65%
	Development & Construction	.												
	TOTAL ASSETS & INVESTMENTS	220.3 - - -	220.3	849.2	147.2	240.5	325.1	136.4	83.9	62% 83.9	62%	709.2	140.0	20%
NA	Unallocated Expenses-NA	(32.7)	(32.7)	(125.2)	(26.8)	(25.5)	(38.4)	(34.5)	1.8	1.8		(123.6)	(1.6)	
EVE	Unallocated Expenses- EUR	(14.6)	(14.6)	(35.6)	(9.4)	(8.6)	(11.7)	(5.9)	(8.7)	(8.7)		(27.6)	(8.0)	
	TOTAL UNALLOCATED	(47.3) - - -	(47.3)	(160.8)	(36.2)	(34.1)	(50.1)	(40.4)	(6.9)	17% (6.9)	17%	(151.2)	(9.6)	6%
	TOTAL WHOLESALE	418.8 - - -	418.8	1,316.4	262.5	378.1	355.5	320.3	98.5	31% 98.5	31%	968.5	347.9	36%

ECO6419BO100941 4/1121xx1 744 PM



  Buckets IQ00, 1Q(H)
EXH066-00228


=============
Page 14 of 46
=============

	Enron Corp.											
	Wholesale Buckets								
		2000 by Quarter			1999 by Quarter			00-99 Comparison	99-98 comparison
									YTD	IQ		
	Subcategorv Description	Year 4Q 3Q 2Q	IQ	Year	4Q	3Q	2Q	IQ	Incr (Deer)	Incr (Decr)	98 Year	Incr (Decr)
												
	IA) GAS ORIGINATIONS -NA										
-	
5
0
NA	Origitmtions(Commodity) APEA	-		5.0
7
0	-
-	5.0
-	-
-	-
7.0	-
(7.0)	-
(7.0)	4.9	.
2.1
NA	Originations (Commodity) BPA	-		.		-	-	-	-	-	6.5	(6.5)
NA	Origination(Commodity) Calpine	-
6
3	6
3	-
11.7	-
1.4	1.7	3.2	5.4	0.9	0.9	-	11.7
NA	Origination (Commodity) Canada	.	.			-	-	-	-	-	10.0	(10.0)
NA	Originations (Commodity) Citrus Annuity	-		-	-	-	-	-	-	-	11.5	(11.5)
NA	Originetions (Commodity) DePere	-		-	-	-	-	-	-		3.5	(3.5)
NA	Origination (Commodity) Duke/PanEnergy	-		-
10
1	-
-	-	4.1	6.0	(6.0)	(6.0)	31.0	(20.9)
NA	Onigintion(Comnsodity) Entex	-		.
1
1		1
1	
-	
-	
-	
-	
-	
I.1
NA	Origination (Commodity) Ft. James	-		.	-	.						8
3
NA	Originatiens(Commodity) FP&L	-		8.3	-	(2.2)
-	10.5	-	-	-	-
2.7	.
(2.7)
NA	0 gintions (Commodity) Hinson Power/Columbia Falls	-		-	-	_					3.1	(3.1)
NA	Origination (Commodity) MSCPA	-
5
2	5
2	-
15.5	_
1.6	2.9	5.0	6.0	(3.5)	(3.5)	21.3	(5.8)
NA	Origination (Commodity) Other Originations	.	.	8
0	-	-	-	8.0	(8.0)	(8.0)	-	8.0
NA	Origination (Commodity) Palm Springs/S. San Francisco	-		.							-	14
0
NA	Origintions(Commodity) Peoples	-		14.0	4.0	10.0	-	-	-	-		.
9
6
NA	Originations(Commodity) Qualitech	-		6.9	-
-	6.9
-	-	-	-	-	41.6	.
(41.6)
NA	Origination (Commodity) WAPA	-		-								.
7
9
NA	Origination (Commodity) Walton EMC	-		7.9	-	-	7.9	-	-	-	-
-	.
8
5
NA	Origination (Commodity) Wilton Center	-		8.5	8.5
-	-
-	-
-	-
-	-	-	47.4	.
(47.4)
NA	Origintions(Commoduy) WNP(BPA)	-		-								
		8
8	8
8	0
104	15.5	25.4	30.7	32.4	(23.6)	(23.6)	183.5	(79.5)
	NA	.	.	.								
	IB1 POWER ORIGINATIONS - NA										
-	
5
5
NA	Origination (Commodity) Cactus	-	1
21	5.5
40
6	5.5
2
22	-
15
3	-
3
1	-
-	-
21.1	-
21.1	-	.
40.6
NA	Origination (Commodity) Genco	21.1	.	.	.	.	.				-	49
0
NA	Originations(Commodity) Genco-Peakers Transaction	-		49.0	49.0	-	-	-
-	-
6
1	-
1
6	-	.
-
NA	Origination (Commodity) Other Originations	1.6	1.6	-	-	-	-		.	.
-	-	30
0
NA	ination (Commodity) United Illuminating
Ori	-		30.0	30.0	-	-	-	-			.
	g		22
7	125
1	7
106	15
3	3
1	-	22.7	22.7	-	125.1
	NA	22.7 - - -	.	.	.	.	.					
												
	ICI POWER ORIGINATIONS- EUR					
-	
-	
-	
-	
-	
7.0	
(7.0)
FUR	Origination (Commodity) Eastern 1 Tilt 11	-		-	-	-	-	-	-	-	16.9	(16.9)
EUR	Originations (Commodity) Eastern I Tilt 111	-		-	-	-	-	-	-	-	42.8	(42.8)
EUR	Origination (Commodity) Eastern 11	-		-	-		96
3	-	-	-	-	96.3
CUR	Origination (Commodity) Eastern Transportation	-		96.3
-	-
-	-
-	.
-	-	-	-	(2.3)	2.3
FUR	Originions (commodity) Earn Cash	-										
CUR	Originations (Commodity) Other Originations	-
-		
(30.2)	
(9.7)	
(6.5)	
(7.4)	
(6.6)	
6.6	
6.6	
(20.7)	
(9.5)
EUR	Origination Expenses Expenses			66
1	(9
7)	5)
(6	88
9	(6
6)	6.6	6.6	43.7	22.4
	EUR			.	.	.	.	.				

  ECO6419BO100942 4111/2(ga1,7:44PM c 3
Buckets IQIMI, 1000
EXH066-00229


=============
Page 15 of 46
=============

Enron Corp.
Wholesale Buckets

Subcatesorv Description

	IDl FAIR VALUE INCOME - NA
NA	Fair Value income	Bilbo FV
NA	Fair Value income	Bilbo Equity
NA	Fair Value income	Black Mountain FV
NA	Fair Value income	Canada FV '
NA	Fair Value income	Canfibre Buffalo FV
NA	Fair Value income	Canfibre Riverside IPC
NA	Fair Value inc.-	Cariuo FV
NA	Fair Value income	Calalytiea FV
NA	Fair Value m enter	City Forest FV
NA	Fair Value income	Cook Inlet FV
NA	Fair Value income	Costilla FV
NA	Fair Value income	Cypress E<pl FV
NA	Fair Value income	East Coast Power FV
NA	Fair Value income	Eeogas FV
NA	Fair Value income	First World FV
NA	Fair Value income	Heartland Steel FV
NA	Fair Value income	Hedge Performance FV
NA	Fair Value income	Kafus FV
NA	Fair Value income	Keathley Canyon FV
NA	Fair Value income	Mariner FV
NA	Fair Value income	NSM FV
NA	Fair Value income	Oconto Falls FV
NA	Fair Value income	Other- FV
NA	Fair Value income	Papier Masson FV
NA	Fair Value income	Qualitech FV
NA	Fuir Value income	Quanta FV
NA	Fair Value income	Recon/Kafus FV
NA	Fair Value income	Repap FV
NA	Fair Value income	Structured credit FV
NA	Fair Value income	Venoeo FV
	[El FAIR VALUE INCOME- ECM
ECM	Fair Value income	ECT Investments - FV
ECM	Fair Value income	EOG Hedge Basket - FV
ECM	Fair Value income	EOGR - FV
ECM	Fair Value income	Latin American Basket - FV
ECM	Fair Value income	Mariner - FV
ECM	Fair Value income	Rhythms Hedge - FV
ECM	Fair Value income	S&P Hedge - FV

2000 by Quarter			1999 by Quarter			00-99 Comparison	99-98 comparison
							YTD	IQ		
Year 4Q 3Q 2Q	IQ	Year	4Q	3Q	2Q	IQ	Incr (Deer)	Incr (Decr)	98 Year	incr (Deer)
										
									4.5	(4.5)
									6.2	(6.2)
		7.3	3.0	4.3	-	-	-	-	-	7.3
_		(1.6)	(1.6)	-	-	-	-	-	(2.2)	0.6
									6.0	(6.0)
(5.0)	(5.0)	(2.2)	-	-	(2.2)	-	(5.0)	(5.0)	-	(2.2)
		(5.6)	-	-	(5.6)	-	-	-	-	(5.6)
_		16.5	8.0	-	2.0	6.5	(6.5)	(6.5)	-	16.5
									5.5	(5.5)
									2.3	(2.3)
		(8.0)	-	-	(5.1)	(2.9)	2.9	2.9	(3.0)	(5.0)
		(5.0)	-	-	(5.0)	-	-	-	-	(5.0)
		4.4	-	-	-	4.4	(4.4)	(4.4)	-	4.4
_		10.8	-	10.8	-	-	-	-	-	10.8
28.8	28.8	96.8	4.0	41.4	38.4	13.0	15.8	15.8	-	96.8
_		6.7	-	-	-	6.7	(6.7)	(6.7)	11.6	(4.9)
(14.0)	(14.0)	(105.9)	4.0	(5.7)	(68.2)	(36.0)	22.0	22.0	1.2	(107.1)
(23.4)	(23.4)	47.8	(4.5)	-	38.9	13.4	(36.8)	(36.8)	11.9	35.9
		-	_	_	(2.1)	2.1	(2.1)	(2.1)	-	-
		14.7	-	-	(2.7)	17.4	(17.4)	(17.4)	-	14.7
		(10.6)	-	-	(8.2)	(2.4)	2.4	2.4	(3.4)	(7.2)
		(2.7)	-	-	(2.7)	-	-	-	8.0	(10.7)
(0.2)	(0.2)	(1.2)	0.3	(2.7)	(0.8)	2.0	(2.2)	(2.2)	4.3	(5.5)
		10.3	4.2	-	-	6.1	(6.1)	(6.1)	-	10.3
		(67.7)	-	-	(42.6)	(25.1)	25.1	25.1	-	(67.7)
25.6	25.6	5.4	-	(11.6)	14.3	2.7	22.9	22.9	7.3	(1.9)
		(4.8)	-	-	(2.2)	(2.6)	2.6	2.6	(0.1)	(4.7)
								-	(7.1)	7.1
		(7.8)	-	-	(7.8)	-	-	-	-	(7.8)
		1.2				1.2	(1.2)	(1.2)	-	1.2
NA 11.8	11.8	(1.2)	17.4	36.5	(61.6)	6.5	5.3	5.3	53.0	(54.2)
										
									6.3	(6.3)
									1.5	(1.5)
_		43.0	-	43.0	-	-	-	-	-	43.0
		-	_	-					0.3	(0.3)
-		(9.0)	-	-	-	(9.0)	9.0	9.0	-	(9.0)
17.1	17.1	-	-	-	-	-	17.1	17.1	-	
-		(10.6)	-	-	-	(10.6)	10.6	10.6	-	(10.6)
ECM 17.1 - - -	17.1	23.4	-	43.0	-	(19.6)	36.7	36.7	8.1	15.3
										

IF) FAIR VALUE INCOME-El	
- - - (2.2)	
22
El Fair Value income Adrian Resources FV -		
	- - - - - - - (2.3)	2.3
El Fair Value income Bachagaero FV -	- - - 2.0	(2.0)
El Fair Value income Mariner FV -		
V -	(4.4) - - - (4.4) 4.4 4.4	(4.4)
EI Fair value income NSM F	- - - - - - (5.0)	5.0
El Fair Value incmne Promigas FV -
El	_ (4.4) - (4.4) 4.4 4.4 (7.5)	3.1

  Buckets IQIXI, IQ(X)
EXH066-00230

EC06419BO100943 4/112110/, 7:44 PM `4


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Page 16 of 46
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Enron Corp
Gas Pipeline Group (EGPG4)
Detailed Variation Analysis
1st Quarter

Revenues
NNG
TW
Other Ops

Cost of Sales
NNG
TW
Other Ops

Gross Margin
NNG
TW
Other P/L Ops

Operating Expenses (incl taxes)
NNG
TW
EOTT
Other Ops
NNG - depreciation
TW - depreciation
Other Ops - depreciation

Operating Income

Equity Earnings i
NNG (Trailblazer, Overthrust)
Citrus
Northern Border
EOTT
Other
  TOTAL

Gains on Sales
NNG (OverthrusUKingman Land/Zavala)
NNG (Tejas/Champlin)

Varl Q00 Other, GPG

  First Quarter
  2000 1999 Incr(Decr)

  165.8 141.4 24.4 A
39.3 39.1 0.2 B
  0.8 1.7 (0.9)
205.9 182.2 23.7

0.8	0.5	0.3
3.9	1.0	2.9 C
		
4.7	1.5	3.2
		

  165.0 140.9 24.1
35.4 38.1 (2.7)
  0.8 1.7 (0.9)
201.2 180.7 20.5

53.6	50.8	2.8 D
9.3	10.9	(1.6) E
0.2	-	0.2
2.6	(0.3)	2.9 F
11.1	11.9	(0.8)
4.8	4.6	0.2
-	0.2	(0.2)
81.6	78.1	3.5

119.6 102.6 17.0

0.9	- 0.9 G
6.5	6.3 0.2
1.7	1.8 (0.1)
(2.1)	- (2.1) H
7.0	8.1 (1.1)

  0.7 (0.7)
0.7 (0.7)

ECO6419B0100944 4/11/2000, 6:38 PM I _S

EXH066-00231


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Page 17 of 46
=============

Enron Corp
Gas Pipeline Group (EGPG4)
Detailed Variation Analysis
1st Quarter

Other income
Interest Income
99 Interest Lock/ '98 KN Deposit
99 Conoco /'98 Kansas Ad valorem refund
99 Bear Paw & KMI /'98 Vehicles sales
Other
  TOTAL

IBIT
NNG
TW
Citrus
EOTT
Other Ops
  TOTAL IBIT

Interest Expense

  First Quarter
  2000 1999 Incr (Decr)

0.3 -	0.3
9.0	(9.0)
9.0	(9.0)
(2.8)	2.8
0.9 (0.6)	1.5
1.2 14.6	(13.4)

  127.8 126.0 1.8

102.1	94.1	8.0
21.3	22.6	(1.3)
6.5	6.3	0.2
(1.9)	-	(1.9)
(0.2)	3.0	(3.2)
127.8	126.0	1.8

Int on 3rd party debt 10.5 9.8 0.7
Other trade interest - 3.6 (3.6)
Capitalized interest (0.1) (0.7) 0.6
  Int exp - trade 10.4 12.7 (2.3)

Interco interest (inc)/exp (30.2) (28.0) (2.2)
(19.8) (15.3) (4.5)

A Margins Increased $9mm primarily due to new rates in 2000, rate case reserve of $9.4mm in 1999 and $4.2mm rate case refund reserve reversal in 2000.
B Bloomfield Bisti contract buyout in 1999 of $3.6mm partially offset by $2.8mm of operational gas sales in 2000.
C Operational gas sales
D Higher Corporate allocations In 2000.
E Fuel used In operations In 1999.
F Primarily due to SAP system costs of $2.5mm in 2000.
G Trailblazer Partnership income
H EOTT was reported in Corp & Other In 1999.

Vart Q00 Other, GPG

ECO641900100945 4/11/2000, 6:38 PM f 6

EXH066-00232


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Page 18 of 46
=============

Enron Corp			
Portland General (PGE4)			
Detailed Variation Analysis			
1st Quarter			
	First Quarter	
	2000	1999 Incr (Dec0
IBIT			
Gross revenues			
PGG Retail & Other	283.1	273.7	9.4
PGG Wholesale	114.0	25.2	88.8
	397.1	298.9	98.2
Cost of sales			
PGG	(202.5)	(99.8)	(102.7)
Other	-	-	-
	(202.5)	(99.8)	(102.7)
Gross margin	194.6	199.1	(4.5) A
			
Operating expenses	(59.4)	(53.3)	(6.1) B
DD&A (incl fair value)	(46.3)	(46.5)	0.2
Taxes, other	(17.9)	(17.0)	(0.9)
Equity in earnings of unconsol	1.3	5.6	(4.3) C
Other income, net			
Customer Choice	31.0	-	31.0 D
COLI	10.7	1.7	9.0
BPC stock sale	5.7	-	5.7
Stock agreement	(11.5)	-	(11.5)
Other	(2.9)	1.9	(4.8) E
IBIT	105.3	91.5	13.8
			
Interest Expense			
			
Int on 3rd party debt	14.5	16.6	(2.1) F
Other trade interest	3.3	1.6	1.7
Capitalized interest	(0.6)	(0.4)	(0.2)
Int exp - trade	17.2	17.8	(0.6)
Interco interest (inc)/exp	(0.5)	0.2	(0.7)
	16.7	18.0	(1.3)

A Higher power costs to serve increased wholesale loads and somewhat higher retail load.
B Pension curtail of $7mm in 1999 (one-time event) partially offset by 1999 Seneca leasing portfolio management fee of $3mm.
C Increased due to one-time Seneca lease earnings in 1999.
D Customer Choice reserve reversal due to SB1149 order.
  SB1149 and accounting orders filed allows PGE to recover incremental deregulation costs in future rate cases.
E Primarily due to $1.5mm of Y2K reserve.
F Lower LT debt balance in 2000 with higher Commercial Paper at lower interest rate compared to 1999.

Var1000 Other, PGE

EC0641960100946 4/11/2000, 6:54 PM
  l?

EXH066-00233


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Page 19 of 46
=============

Enron Corp
Retail Energy Services (RETAIL4)
Detailed Variation Analysis
1st Quarter

IBIT
Gross revenues
  Gas sales
Power sales
Power MTM
Facilities Services
Outsource & Other
EES Int'l
  Investment Earnings
Total Gross revenues

  First Quarter
  2000 1999 Incr (Decr)

258.8	183.6	75.2
69.9	37.3	32.6
85.4	28.4	57.0
110.6	112.0	(1.4)
48.7	7.1	41.6
52.3	-	52.3
16.3	1.2	15.1
642.0	369.6	272.4

Cost of sales

Gas	(255.5)	(181.9)	(73.6)
Power	(70.8)	(41.8)	(29.0)
Facilities Services	(99.8)	(96.6)	(3.2)
Outsource & Other	(65.4)	(4.6)	(60.8)
EES Int'I	(23.9)	-	(23.9)
Total cost of sales	(515.4)	(324.9)	(190.5)
Gross margin			
Gas sales	3.3	1.7	1.6
Power sales	(0.9)	(4.5)	3.6
Power MTM	85.4	28.4	57.0
Facilities Services	10.8	15.4	(4.6)
Outsource & Other	(16.7)	2.5	(19.2)
EES Int'l	28.4	-	28.4
Investment Earnings	16.3	1.2	15.1
Total Gross margin	126.6	44.7	81.9
			
Operating expenses	(100.1)	(69.3)	(30.8)
Deprec & amort	(9.1)	(6.2)	(2.9)
Taxes, other	(2.6)	(0.4)	(2.2)
Other income, net	1.5	(0.3)	1.8
IBIT before Min. Int.	16.3	(31.5)	47.8
Minority Interest in Omnicron	-	(1.3)	1.3
Minority Interest in EES	0.2	2.1	(1.9)
IBIT	16.5	(30.7)	47.2
			
			
Interest Expense			
			
Int on 3rd party debt			-
Other trade interest	3.5	1.9	1.6
Capitalized interest		-	-
Int exp - trade	3.5	1.9	1.6
Interco interest (inc)/exp		-	-
	3.5	1.9	1.6

VarlQOO Other, EES

ECO6419BO100947 4/11/2000, 8:32 PM 18

EXH066-00234


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Page 20 of 46
=============

Enron Corp		
Enron Broadband Services (EBS)		
Detailed Variation Analysis		
1st Quarter		
	First Quarter
	2000	1999 Incr (Decr)
IBIT		
Gross revenues		
Dark fiber & software sales	47.5	- 47.5
Other	11.6	- 11.6
Total Gross revenues	59.1	- 59.1
		
Cost of sales		
Dark fiber & software	(7.8)	- (7.8)
Other		- -
Total cost of sales	(7.8)	- (7.8)
Gross margin		
Dark fiber & software sales	39.7	- 39.7 A
Other	11.6	- 11.6 B
Total Gross margin	51.3	- 51.3
		
Operating expenses	(47.0)	- (47.0) C
Deprec & amort	(2.9)	- (2.9)
Taxes, other	(2.0)	- (2.0)
Other income, net	0.3	0.3
IBIT	(0.3)	- (0.3)

Interest Expense
Int on 3rd party debt
Other trade interest
Capitalized interest
  Int exp - trade
Interco interest (inc)/exp


  3.0 - 3.0
3.0 - 3.0

A Primarily due to 110,000 miles of fiber sold from Salt Lake City to New Orleans of $30mm and software sale to lnktomi of $10mm.
B Rhythms mark to market of $19mm partially offset by mark to market on ventures of $11 mm.
C Higher operating expenses due primarily to increase in headcount from 116 at 3/31/99 to over 600 in March 2000.

VarlQOO Other, EBS ECO6419BO100948 4/11/2000, 6:09 PM J I

EXH066-00235


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Page 21 of 46
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Enron Corp
Corporate and Other (CPOTH4)
Detailed Variation Analysis
1st Quarter

Revenues
Corporate - Other
ECM - Other
ECI
Elims -
  Corp/EOG hedge to EOG
Rhythms redass

  First Quarter
  2000 1999 Incr (Decr)

1.1 16.3	(15.2)
5.3 5.7	(0.4)
- 19.2	(19.2)
(22.8)	22.8
(18.8)	18.8
6.4 (0.4)	6.8

Cost of Sales			
Corporate - Other	1.2		1.2
	1.2		1.2
			
			
Gross Margin			
Corporate-Other	(0.1)	16.3	(16.4)
ECM - Other	5.3	5.7	(0.4)
ECI	-	19.2	(19.2)
Elims -			
Corp/EOG hedge to EOG	-	(22.8)	22.8
Rhythms redass	-	(18.8)	18.8
	5.2	(0.4)	5.6

Operating Expenses (ind taxes)			
Corporate -			
Other	58.5	25.6	32.9
Corp Finance (Co 099)	(1.0)	(2.8)	1.8
ECM - Other	0.8	0.4	0.4
EEDC	0.4	0.5	(0.1)
ECI	-	6.4	(6.4)
EOTT	-	0.2	(0.2)
Elims -			
Wessex reclass		(33.2)	33.2
	58.7	(2.9)	61.6
Operating Income	(53.5)	2.5	(56.0)
Equity Earnings			
Corporate -			
Azurix	-	(0.6)	0.6
Other	(6.0)	2.6	(8.6)
ECI	-	1.5	(1.5)
EOTT	-	(5.1)	5.1
TOTAL	(6.0)	(1.6)	(4.4)
Interest Income			
Corporate-Other	12.6	-	12.6
ECI	-	0.4	(0.4)
ENT	-	5.3	(5.3)
	12.6	5.7	6.9

Other Income			
Corporate - Other			
Other	(6.3)	1.2	(7.5)
Corp Finance (Co 099)	(3.1)	-	(3.1)
ECM - Other	2.3	1.8	0.5
ECI	-	(0.2)	0.2
EOTT	-	0.2	(0.2)
TOTAL	(7.1)	3.0	(10.1)
IBIT - CPOTH4	(54.0)	9.6	(63.6)
Var1 Q00 Other, Corp & Other			
EXH066-00236			

EC06419B00100947 4/11/2000, 7:18 PM 1, o


=============
Page 22 of 46
=============

Enron Corp
Corporate and Other (CPOTH4)
Detailed Variation Analysis
1st Quarter

EREC (EREC+ERECMIN)
Revenues
Storm Lake II
German Sub -'Tacke"
Lake Benton II
  Turbine Sales
Other
  Total Revenues

  First Quarter
  2000 1999 Incr (Decr)

  - 100.2 (100.2)
26.0 12.4 13.6
  3.0 - 3.0
29.0 112.6 (83.6)
7.2 3.8 3.4
  36.2 116.4 (80.2)

Cost of Sales
Storm Lake II
German Sub - "Tacke"
  Turbine Cost of Sales
Other
  Total Cost of Sales

Op Costs & Expenses
Equity in Unconsol Subs
Qualified Facility Partnerships
  Other
Other income (exc Min Int)
  IBIT - EREC
EREC - Minority Interest

  - (87.0) 87.0
(18.4) (11.1) (7.3)
(18.4) (98.1) 79.7
  (4.7) (2.7) (2.0)

(23.1) (100.8) 77.7

(12.9) (13.0) 0.1

11.9	-	11.9
	(0.7)	0.7
0.4	11.5	(11.1)
12.5	13.4	(0.9)
0.6	1.3	(0.7)
13.1	14.7	(1.6)

Clean Fuels			
Revenues	54.9	39.4	15.5
Cost of Sales	(42.1)	(28.6)	(13.5)
Reversal against charge to reflect losses on	7.7	7.7	-
Op Costs & Expenses	(24.0)	(28.9)	4.9
Equity in Unconsol Subs	-	-	-
Other income (incl Min tnt)	0.2	(0.4)	0.6
IBIT-CF	(3.3)	(10.8)	7.5
			
IBIT- Corp & Other			
Corporate - Other	(58.3)	(6.1)	(52.2)
Corp Finance (Co 099)	(2.1)	2.8	(4.9)
ECM - Other	6.8	7.1	(0.3)
EEDC	(0.4)	(0.5)	0.1
ECI	-	14.5	(14.5)
EOTT	-	0.2	(0.2)
Elims	-	(8.4)	8.4
TOTAL	(54.0)	9.6	(63.6)
EREC	13.1	14.7	(1.6)
Clean Fuels	(3.3)	(10.8)	7.5
TOTAL IBIT - Corp & Other	(44.2)	19.8	(64.0)

A Primarily due to higher MTBE and methanol prices.
B Primarily due to higher feedstock prices.
C Due to no MTBE lease payment in 2000, partially offset by plant outage

Van 000 Other. Corp & Other

EC06419B0100949

4/11/2000, 7:18 PM ,

EXH066-00237


=============
Page 23 of 46
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Enron Corp.
Basic and Diluted Earnings Per Share

Numerator:
Basic
  Income before cumulative effect of accounting changes
Preferred stock dividends:
  Second preferred stock
  Series B Junior Voting Convertible Pref. Stock
  Income available to common shareholders before cumulative
effect of accounting changes
  Cumulative effect of accounting changes
Income available to common shareholders
Diluted
  Income available to common shareholders before cumulative
effect of accounting changes
  Effect of assumed conversion of dilutive securities:
Second preferred stock
  Series B Junior Voting Convertible Preferred Stock
Income before cumulative effect of accounting changes
Cumulative effect of accounting changes
  Income available to common shareholders after
assumed conversions

Denominator:
Denominator for basic earnings per share - weighted-average shares
Effect of assumed conversion of dilutive securities:
Second preferred stock
  Series B Junior Voting Convertible Preferred Stock
Stock options, puts and forward contracts
  Dilutive potential common shares
  Denominator for diluted earnings per share - adjusted
weighted-average shares and assumed conversions

Basic earnings per share:
  Before cumulative effect of accounting changes
Cumulative effect of accounting changes
  Basic earnings per share

Diluted earnings per share:
  Before cumulative effect of accounting changes
Cumulative effect of accounting changes
Diluted earnings per share

EPS Schedule for footnote.xls, Sheet I

3 - months ended
March 30,
2000 1999

$	338	$ 253
	(4)	(4)
	(16)	-
		
	318	249
		(131)
$	318	$ 118
		
$	318	$ 249
	4	4
	16	-
	338	253
		(131)
		
$	338	$ 122
		
	723	683
	35	36
	50	-
	44	26
	129	62
		
	852	745
		
$	0.44	$ 0.36
		(0.19)
$	0.44	$ 0.17
		
$	0.40	$ 0.34
	-	(0.18)
$	0.40	$ 0.16

ECO6419BO100950 4/11/2000, 3:06 PM I

EXH066-00238


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Page 24 of 46
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Enron Corp.
Other Income
3131100

			1st Quarter 2000		
	Equity	Gains on	Interest	Other	
1st Quarter 2000 in Affiliates	Sales	Income	Income	Total
EOG	-	-	-	-	-
GPG:					
Northern	0.9	-	0.2	0.8	1.9
Transwestem	-	-	-	-	-
Citrus	6.4	-	-	-	6.4
Other Pipeline Operations	1.8	-	-	(0.2)	1.6
Liquids	-	-	-	-	-
EOTT Energy	(2.1)	-	0.2	0.2	(1.7)
Other					
	7.0		- 0.4	0.8	8.2
PGE	1.3	5.7	0.3	27.0 (A)	34.3
Wholesale:					
North America	151.0	1.5	3.3	(1.0)	154.8
Europe	2.9	(1.9)	1.4	3.8 (B)	6.2
International Regions					-
CALME	28.1	0.3	3.6	1.8 (C)	33.8
APACHI	13.6	-	0.2	(3.4) (D)	10.4
India	16.4	-	-	-	16.4
South America	14.2	(0.7)	3.7	4.7 (E)	21.9
El HQ	-	(0.1)	0.3	0.1	0.3
EGEP	-	-	-	(3.3) (F)	(3.3)
EE&CC	-	-	2.8	-	2.8
ECM	15.9		(0.9)	-	15.0
	242.1	(0.9)	14.4	2.7	258.3
EES	-	-	0.6	0.9	1.5
EBS	0.2	-	-	0.1	0.3
Corporate	5.9	0.3	12.9	(6.2)	12.9
Total Consolidated	256.5	5.1	28.6	25.3	315.5
Check per I/5	256.5	5.1	28.6	25.3	315.5
dill	-	-	-	-	
A Customer Choice reserve reversal due to SB1 149 legislation	31.0	
COLT - PGEIPGH				10.7	
Y2K Amort				(1.5)	
Stock Agreement				(11.5)	
Other				(1.7)	
				27.0	
B Mgmt fee income				2.3	
Yosemite 2 prepay arrangement fee			(2.4)	
Other				3.9	
				3.8	
C. Promigas dividends				1.2	
Fx gain				0.3	
Other				0.3	
				1.8	
D. Reserve - Hainan Project				(4.0)	
Other				0.6	
				(3.4)	
E. Fx gain on Elektro				4.1	
Other				0.6	
				4.7	
F. CPIL litigation reserve				(0.4)	
Tanker charge reserve				(0.6)	
FAA well reserve				(0.6)	
Other				(1.7)	
				(3.3)	

  Other Income 102000
EXH066-00239

		1st Quarter 1999			
Equity	Gains on	Interest	Other		
in Affiliates	Sales	Income	Income		Total
-	-	0.2	1.1		1.3
-	0.7	-	9.1	(G)	9.8
6.3	-	-	-		6.3
1.8	-	-	-		1.8
-	-	-	(0.7)		(0.7)
8.1	0.7	-	8.4		17.2
5.6	-	0.2	7.3	(H)	13.1
34.8	(0.6)	9.1	2.3	(1)	45.6
0.2	-	0.7	2.1		3.0
20.3	0.2	4.0	13.7	(J)	38.2

  1.6 1.8 4.2 7.6
56.9 (0.4) 15.6 22.3 94.4

(2.3) 11.6 6.5	6.4 (K) 22.2
68.3 11.9 22.5	45.5 148.2
68.3 11.9 22.5	45.5 148.2
G. 99 Interest Rate Swap termination	9.1
	9.1
H. PGH CSX Sale	4.1
PGH lease portfolio income	2.0
PGE earnings from COLI investment	1.2
	7.3
I. Admin Fees	3.7
FCT Loss	(1.4)
	2.3
J. Fx loss on debt financing (CESP)	(16.3)
Loss on Fx forward	(10.7)
Fx gain on Elektro US debt	45.8
Electro	(5.1)
	13.7
K. Rental Income	1.5
Other Income	4.9

6.4

ECO6419BO100951
  4/11/20006:36 PM 23


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Page 25 of 46
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Enron Corp.
Interest Expense
(Millions of Dollars)
(Preliminary)

Interest on third party debt
Co 99 only
  Interest on long-term debt
Interest on short-term debt
Other interest
  Interest rate swaps

Corp & Elims (excluding Co 99)
Corp - Interest on short-term debt
EOG
GPG - NNG debt
GPG - TW debt
PGG
North America (ind Whole elims)
Enron - Europe
CALME
APACHI
South America
San Juan
El Regions
ECM (Wholesale)
EGEP (Wholesale)
EBS
EES
EREC
Clean Fuels
ECM (Corp)
Total 3rd Party

Capitalized Interest
EOG
GPG
PGG
North America (incl Whole elims)
El HQ
India
El Regions
EBS
EES
EREC
Clean Fuels
Total Capitalized Interest

Amort of debt discount
Discount on assigned receivables

Intercompany Interest
Total Intercompany Interest

Total Interest Expense

  1999 Actuals
  1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year

79.5	80.4	99.0	91.8	350.7
11.9	13.1	-	-	25.0
2.0	2.7	0.9	2.5	8.1
(3.0)	(3.2)	(4.5)	10.0	(0.7)
90.4	93.0	95.4	104.3	383.1

1.2	3.8	9.9	4.4	19.3
-	-	6.5	19.4	25.9
17.3	17.9	9.6	-	44.8
10.4	10.7	10.0	9.2	40.3
3.0	3.0	3.0	2.9	11.9
18.2	15.5	16.7	19.6	70.0
(0.4)	0.8	4.5	(4.7)	0.2
10.2	(2.0)	6.5	2.3	17.0
29.4	34.4	38.9	(21.8)	80.9 (1)
			5.1	5.1
-	-	0.8	(0.8)	-
1.1	2.6	(3.7)	2.8	2.8
1.9	2.7	1.6	(2.7)	3.5
0.6	0.3	0.3	0.5	1.7
-	-	0.1	-	0.1
(0.4)	(0.5)	(0.7)	(6.1)	(7.7)
182.9	182.2	199.4	134.4	698.9

(3.2)	(3.1)	(1.5)	-	(7.8)
(0.7)	(0.3)	(0.2)	(0.4)	(1.6)
(0.4)	(0.4)	(0.4)	(0.5)	(1.7)
(3.2)	(6.2)	(6.3)	(7.2)	(22.9)
(1.0)	(0.7)	(4.6)	(1.0)	(7.3)
			(7.2)	(7.2)
		(0.2)	(0.1)	(0.3)
(4.4)	(4.3)	(3.2)	0.4	(11.5)
(0.2)	(0.3)	(0.2)	(0.2)	(0.9)
(13.1)	(15.3)	(16.6)	(16.2)	(61.2)

  1.5 2.6 4.2 2.8 11.1
3.3 5.7 0.5 (1.6) 7.9

  (0.0) - -

  174.6 175.2 187.5 119.4 656.7
174.6 175.2 187.5 119.4 656.7

(1) 1999 4th qtr decrease due to the restructuring of Elektro Debt.
(2) 1st qtr decrease due to El's trade interest expense being reported by regions in 2000.
Intexplq2OOO, actual

  2000 Actuals 1st Qtr
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year Variance

100.5	100.5	21.0
1.9	1.9	(10.0)
0.1	0.1	(1.9)
6.5	6.5	9.5
109.0 -	- - 109.0	18.6

2.7	2.7
22.5	22.5
9.2	9.2
1.3	1.3
17.8	17.8
0.3	0.3
4.7	4.7
0.5	0.5
0.7	0.7
(1.5)	(1.5)
0.2	0.2
2.2	2.2
(0.1)	(0.1)
0.8	0.8
(0.4)	(0.4)
169.9 -	- - 169.9

(0.1)	(0.1)
(0.6)	(0.6)
(8.2)	(8.2)
(0.7)	(0.7)
(0.3)	(0.3)
(0.1)	(0.1)
(2.2)	(2.2)
(0.1)	(0.1)
(12.3) -	- - (12.3)

3.7

1.5
22.5
(17.3)
(1.2)
(1.7)
(0.4)
0.7
(5.5)
0.5
0.7
(1.5)
0.2
(29.4) (2)
2.2

(1.1)
(2.0)
0.2

  (13.0)

3.2
0.6
(0.2)
(5.0)
(0.7)
(0.3)
1.0

  (0.1)
2.2
0.1
0.8

3.7 2.2
- (3.3)

  161.3 - - - 161.3 (13.3)
161.3 161.3

ECO6419BO100952 4/11/2000, 3:56 PM 1.4

EXH066-00240


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Page 26 of 46
=============

ENRON CORP.
Table 1 - Earnings Summary
(Unaudited: in millions, except per share data)

Quarter Ended
March 31,
9nnn lggg

Revenues

Transportation and Distribution:

Gas Pipeline Group	$	206	$ 182
Portland General		397	299
Wholesale Energy Operations and Services		12,001	6,595
Retail Energy Services		642	370
Broadband Services		59	-
Exploration and Production (a)		-	203
Corporate and Other (including intercompany eliminations)		(160)	(17)
Total Revenues	$	13,145	$ 7,632
			
			
After tax results			
			
Net income excluding nonrecurring items	$	338	$ 253
Non-recurring item:			
Cumulative effect of accounting changes		-	(131)
Net income	$	338	$ 122
			
			
Earnings per share (diluted) (b)(c)			
			
EPS (diluted) excluding nonrecurring items	$	0.40	$ 0.34
Non-recurring item:			
Cumulative effect of accounting changes		-	(0.18)
EPS (diluted)	$	0.40	$ 0.16
			
Average shares outstanding (diluted) (b)(c)		851.9	744.6

(a) Reflects results of Enron Oil & Gas through August 16, 1999, date of share exchange transaction.
(b) Shares outstanding and EPS amounts have been restated to reflect the two-for-one common stock split
effective August 13, 1999.
(c) The Second Preferred Stock and the Series B Preferred Stock are both dilutive in the first quarter of 2000.

EC0641980100953


EXH066-00241


=============
Page 27 of 46
=============

First Quarter 2000 I

  ENRON CORP.
Table 2a - Results by Segment
(Unaudited: in millions, except per share amounts)

IBIT:
Transportation and Distribution:
  Gas Pipeline Group
Portland General
Wholesale Energy Operations and Services
Retail Energy Services
Broadband Services
Corporate and Other
IBIT
Interest and Related Charges, net
Dividends on Preferred Securities
of Subsidiaries
Minority Interests
Income Tax Expense
Net Income
Preferred Dividends (a):
Second Preferred Stock
Series B Preferred Stock
Earnings on Common Stock
Average Number of Shares Used:
Basic
  Diluted (a)

Earnings per Common Share:
Basic
  Diluted

Non-
Recurring Recurring Total

$ 128	- $	128
105	-	105
419	-	419
16	-	16
(44)	-	(44)
624	-	624
161	-	161
18	-	18
35	-	35
72	-	72
338	-	338
4	-	4
16	-	16
$ 318	- $	318
		
		722.5
851.9	-	851.9
		
	$	0.44
$ 0.40	- $	0.40

(a) The Second Preferred Stock and the Series B Preferred Stock are both dilutive in the first quarter of 2000.

ECO6419BO100954

  Ij
EXH066-00242


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Page 28 of 46
=============

First Quarter 1999

  ENRON CORP.
Table 2b - Results by Segment
(Unaudited: in millions, except per share amounts)

IBIT:
Transportation and Distribution:
  Gas Pipeline Group
Portland General
Wholesale Energy Operations and Services
Retail Energy Services
Broadband Services
Exploration and Production (a)
Corporate and Other
  IBIT
Interest and Related Charges, net
Dividends on Preferred Securities
of Subsidiaries
Minority Interests
Income Tax Expense
Net Income Before Cumulative Accounting Changes
Cumulative Effect of Accounting Changes, net of tax
Net Income (Loss)
Preferred Dividends:
Second Preferred Stock
Series B Preferred Stock
Earnings (Loss) on Common Stock

Average Number of Shares Used (b):
Basic
  Diluted

Earnings (Loss) per Common Share (b):
Basic
  Diluted

Non-
Recurring Recurring Total

$ 126 $	- $ 126
92	- 92
320	- 320
(31)	- (31)
12	- 12
1A	- 1A

JJJ - -
175 - 175

19 - 19
33 - 33
rz 12 A 11

G:JJ - Gvv
  (131) (131)
253 (131) 122

  4 - 4
$ 249 $ (131) $ 118

  683.4
744.6 744.6 744.6

  $ 0.17
$ 0.34 $ (0.18) $ 0.16

(a) Reflects results of Enron Oil & Gas through August 16, 1999, date of share exchange transaction.
(b) Shares outstanding and EPS amounts have been restated to reflect the two-for-one common stock split
effective August 13, 1999.

ECO6419BO100955


EXH066-00243


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Page 29 of 46
=============

ENRON CORP.
Table 3a - Business Highlights
(Unaudited)

	Quarter Ended	
	March 31,	
	2000 1999
Gas Pipeline Group			
(In Millions)		
Net Revenues	$ 201 $	181
Operating Expenses	65	61
Depreciation & Amortization	16	17
Equity in Earnings	7	8
Other Income, net	1	15
IBIT	$ 128 $	126
		
Total Volumes Transported (BBtu/d) (a)		
Northern Natural Gas	4,147	4,464
Transwestern Pipeline	1,638	1,393
Florida Gas Transmission	1,563	1,225
Northern Border Pipeline	2,464	2,388
	9,812	9,470

Portland General

(In Millions)
Revenues
Purchased Power & Fuel
Operating Expenses
Depreciation & Amortization
Other Income, net
  IBIT

Retail Customers (end of period, thousands)

Electricity Sales (Thousand MWh)
Residential
  Commercial
Industrial
Total Retail
  Wholesale
Total Sales

$ 397 $ 299
202 100
  78 70
46 46
34 9
$ 105 $ 92

  724 708

2,361
1,872
1,169

  5,402
4,281
9,683

(a) Reflects 100% of each entity's throughput volumes.

2,342
1,816
1,020

  5,178
1,338
6,516

EC06419BO100956

  M
EXH066-00244


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Page 30 of 46
=============

ENRON CORP.
Table 3b - Business Highlights
(Unaudited)

Quarter Ended
March 31,
  2000 1999
Wholesale Energy Operations and Services
(In Millions)
Commodity Sales and Services $ 246 $ 224
Assets and Investments 220 136
Unallocated Expenses (47) (40)
  IBIT $ 419 $ 320

Commodity Sales and Services

Physical Volumes (BBtue/d) (a)
Gas:

United States	16,217	9,088
Canada	4,389	3,954
Europe and Other	2,469	1,799
	23,075	14,841
Transport Volumes	456	556
Total Gas Volumes	23,531	15,397
Crude Oil and Liquids	6,134	4,284
Electricity (b)	12,170	9,594
Total Physical Volumes (BBtue/d) (a)	41,835	29,275
		
Electricity Volumes (Thousand MWh)		
United States	102,903	85,962
Europe and Other	7,844	384
Total	110,747	86,346
		
Financial Settlements (Notional)(BBtue/d)	141,865	95,151

Broadband Services

DS-3 Months Delivered (c) 432 -
Total Contract Value (In Millions) $ 31 $ -

(a) Includes third-party transactions of Enron Energy Services.
(b) Represents electricity volumes, converted to BBtue/d.
(c) Digital service, level 3 (DS-3) is equal to 28 T-1 channels and operates at 45 megabits per second.

ECO6419BO100957


EXH066-00245


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Page 31 of 46
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SELECTED FINANCIAL DATA
Enron Core. and Subsidiaries

2000

Revenues, Net of Intercompany											
Transportation and Distribution
Gas Pipeline Group	
$ 184	
$ 141	
$ 145	
$ 167	
$ 637	
$ 178 $	
121	
$ 160	
$ 175	
$ 634	
$ 202
Portland General	320	269	280	327	1,196	299	296	407	377	1,379	397
Wholesale Energy Operations and Services	4,738	5,774	10,225	6,483	27,220	6,516	8,558	10,677	9,750	35,501	11,847
Retail Energy Services	195	154	400	323	1,072	363	301	345	509	1,518	603
Broadband Services	-	-	-	-	-	-	-				59
Exploration and Production (1)	198	176	186	190	750	149	175	105	-	429	-
Corporate and Other	47	43	84	211	385	127	221	141	162	651	37
Total	$ 5.682	$ 6.557	$ 11.320	$ 7,701	$ 31,260	$ 7,632	9,672	$ 11,835	$ 10 973	$ 40,112	
$ 13145

Net Income																	
Income (Loss) Before Interest, Minority Interests and Income Taxes																	
Transportation and Distribution
Gas Pipeline Group	
$ 126	
$	
72	
$ 69	
$	
84	
$ 351	
$	
126	
$ 72 $	
85	
$	
97	
$	
380	
$	
128
Portland General	79		62	61		84	286		92	56	52		105		305		105
Wholesale Energy Operations and Services	249		241	277		201	968		320	356
26	378
18		263
7		1,317
(68)		419
16
Retail Energy Services	(27)		(43)	(23)		(26)	(119)		(31)	)
(	(
)						
Broadband Services
Exploration and Production (1)	-
43		-
29	-
25		-
31	-
128		-
12	-
20	
33		
-		
65		
-
orate and Other
Cor	1		16	4		26	7		14	9	23		1		17		44
p
BIT-Recurring	471		345	405		400	1,621		533	469	507		473		1,982		624
Non-Recurring Items (See Analysis of Reported Earnings)	-		-	-		39	39		-	-	13		-		13		-
Total ]BIT	471		345	405		361	1,582		533	469	520		473		1,995		624
Interest and Related Charges, net	133		131	134		152	550		175	175	187		119		656		161
Dividends on Company-Obligated Preferred Securities of Subsidiaries	19		20	19		19	77		19	19	19		19		76		18
Minority Interests	25		19	16		17	77		33	23	38		41		135		35
Income Tax Provision (Benefit)	80		30	68		3	175		53	30	14		35		104		72
Net Income Before Cumulative Changes	214		145	168		176	703		253	222	290		259		1,024		338
net of tax
Cumulative Effect of Accounting Changes	-		-	-		-			131	-	-				131		-
,
Net Income	214		145	168		176	703		122	222	290		259		893		338
Preferred Stock Dividend (2)	4		5	4		4	17		4	19	19		24		66		20
Earning on Common Stock	$ 210	$	140	$ 164	$	172	$ 686	$	118	$ 203 $	271	$	235		827	$	318
																	
Earnings Per Share (3)
Basic	
$ 0.34	
$	
0.22	
$ 0.25	
$	
0.26	
$ 1.07	
$	
0.17	
$ 0.29 $	
0.38	
$	
0.33	
$	
1.17	
$	
0.44
Diluted
Recurring	
$ 0.32	
$	
0.21	
$ 0.24	
$	
0.24	
$ 1.00	
$	
0.34	
$ 0.27 $	
0.27	
$	
0.31	
$	
1.18	
$	
0.40
Non-Recurring Items (See Analysis of Reported Earnings)	-		-	-		0.01	0.01		0.18	-	0.08		-		0.08		-
Rcnnrfad	S 0.32	$	0.21	$ 0.24	$	0.25	$ 1.01	$	0.16	$ 0.27	0.35	$	0.31	$	1.10	$	0.40

Depreciation, Depletion and Amortization												
Transportation and Distribution
Gas Pipeline Group	
$ 16 $	
17 $	
17 $	
20 $	
70	
$	
17 $	
17 $	
18 $	
14 $	
66	
$ 16
Portland General	44	45	47	47	183		46	47	43	44	180	46
Wholesale Energy Operations and Services	39	38	52	66	195		57	70	71	96	294	75
Retail Energy Services	5	9	8	9	31		6	4	9	10	29	9
Broadband Services
Exploration and Production (1)	-
72	-
73	-
84	-
86	-
315		-
82	-
89	-
43	-
(1)	-
213	3
-
Corporate and Other	6	8	7	12	33		7	9	41	31	88	23
Total	182	190 $	215 $	240 $	827	$	215 $	236 $	225 $	194 $	870	$ 172

(1) Reflects results of Enron Oil & Gas through August 16, 1999, the date of the share exchange transaction; following this date the results of the exploration and production
operations in India and China are included in Wholesale Energy Operations and Services.
(2) The Second Preferred Stock and the Series B Preferred Stock are both dilutive in the first quarter of 2000.
(3) Adjusted to reflect two-for-one common stock split effective August 13, 1999.

EC06419BO100958

Printed: 4/11/2000 8:28 PM
  Pg1 3c

EXH066-00246


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Page 32 of 46
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ANALYSIS OF REPORTED EARNINGS

		1998				1999			2000
(In Millions, Except Per Share Amounts)	1st Qtr	2nd Qtr 3rd Qtr 4th Qtr	Year		1st Qtr 2nd Qtr	3rd Qtr	4th Qtr	Year	1st Qtr
Diluted Earnings Per Share - Recurring (1)	$ 0.32	$ 0.21 $ 0.24 $ 0.24	$ 1.00	$	0.34 $ 0.27	$ 0.27	$ 0.31	$ 1.18	$ 0.40
									
Non-Recurring Earnings (Loss) Items Per Share (1)(2)									
Corporate and Other									
Gain on sale of subsidiary stock	-	- - 0.07	0.07		- -	0.44	-	0.45	-
Charge for reflect losses on contracted MTBE production	-	- - (0.06)	(0.06)		- -	-	-	-	-
Charge to reflect impairment of MTBE asset	-	- - -	-		- -	(0.36)	-	(0.36)	-
Cumulative effect of accounting changes (3)	-	- - -	-		(0.18) -	-	-	(0.17)	-
Total Non-Recurring Earnings (Loss) Items Per Share	-	- - 0.01	0.01		(0.18) -	0.08	-	(0.08)	-
Reported Diluted Earnings Per Share	$ 0.32	$ 0.21 $ 0.24 $ 0.25	$ 1.01	$	0.16 $ 0.27	$ 0.35	$ 0.31	$ 1.10	$ 0.40
Average Number of Common Shares Used in Diluted Computation (1) (3)	659.6	692.7 712.6 716.4	695.3		744.6 771.1	781.1	779.1	769.0	851.9
									
Non-Recurring Earnings (Loss) Items - After tax									
Corporate and Other									
Gains on sales of subsidiary stock	$ -	$ - $ - $ 45	$ 45	$	- $ -	$ 345	$ -	$ 345	$ -
Charge to reflect losses on contracted MTBE production	-	- - (40)	(40)		- -	-	-	-	-
Charge to reflect impairment of MTBE asset	-	- - -	-		- -	(278)	-	(278)	-
Cumulative effect of accounting changes (3)	-	- - -	-		(131) -	-	-	(131)	-
Total Non-Recurring Earnings (Loss) Items -After tax	$ -	$ - $ - $ 5	$ 5	$	(131) $ -	$ 67	$ -	$ (64)	$ -
									
Non-Recurring Earnings (Loss) Items - Pretax									
Corporate and Other									
Gains on sales of subsidiary stock	$ -	$ - $ - $ 22	$ 22	$	- $ -	$ 454	$ -	$ 454	$ -
Charge to reflect losses on contracted MTBE production	-	- - (61)	(61)		- -	-	-	-	-
Charge to reflect impairment of MTBE asset	-	- - -	-		- -	(441)	-	(441)	-
Cumulative effect of accounting changes (3)	-	- - -	-		(200) -	-	-	(200)	-
Total Non-Recurring Earnings (Loss) Items - Pretax	$ . -	$ - $ - $ (39)	$ (39)	$	(200) $ -	$ 13	$ -	$ (187)	$ -

(i)Adjusted to reflect two-for-one common stock split effective August 13, 1999.
(2)Except where a specific tax rate applied, assumes a 35% tax rate.
(3) Primarily due to the adoption of an accounting pronouncement requiring that costs for all start-up activities and organization costs be expensed as incurred.

  g 2
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CAPITAL STRUCTURE AND STATISTICS
C.- r.,.., ..a Quh.r,k1..1..

			1998						1999				2000
(In Millions, Ex Per Share Amounts	1st Qtr	2nd Qtr	3rd Qtr	4th Qtr	Year		tat Qtr	2nd Qtr	3rd Qtr	4th Qtr	Year		1st Qtr
Common Shares Outstanding (1)													
Average, Basic	610.0	638.6	658.8	661.8	642.4		683.4	708.0	714.1	715.3	705.3		722.5
Average, Diluted	659.6	692.7	712.6	716.4	695.3		744.6	771.1	781.1	779.1	769.0		851.9
End of Period, fluted	663.4	713.2	716.2	718.2	718.2		764.4	779.0	781.1	783.2	783.2		861.3
Market Price Per Share (end of period) (1)	$ 23.188 $	27.032 $	26.750 $	28.531 $	28.531	$	32.125 $	40.875 $	41.063 $	44.375 $	44.375	$	74.875
Dividends Per Share													
Cumulative Second Preferred Convertible Stock ("Series J") (2) (3) (4)	$ 3.242 $	3.242 $	3.242 $	3.413 $	13.139	$	3.413 $	3.413 $	3.413 $	3.413 $	13.652	$	3.413
Junior Convertible Preferred Stock ('Series A") (5)	-	-	-	-	-		-	59.150	59.233	-	118.383		-
Junior Manditodly Convertible Preferred Stock ("Series B") (4) (5)	-	-	-	-	-		-	-	4.333	65.000	69.333		65.000
Common Stock (1)	0.119	0.119	0.119	0.125	0.482		0.125	0.125	0.125	0.125	0.500		0.125
Company-Obligated Preferred Stock of Subsidiaries													
8% Cumulative Preferred ('Series C') (3)	0.500	0.500	0.500	0.500	2.000		0.500	0.500	0.500	0.500	2.000		0.500
9% Cumulative Preferred ("Series A') (3)	0.563	0.563	0.563	0.563	2.252		0.563	0.563	0.563	0.563	2.252		0.563
8.57% Cumulative Preferred	2,142.500	2,142.500	2,142.500	2,142.500	8,570.000		2,142.500	2,142.500	2,142.500	2,142.500	8,570.000		2,142.500
7.39% Cumulative Preferred	1,847.500	1,847.500	1,847.500	1,847.500	7,390.000		1,847.500	1,847.500	1,847.500	1,847.500	7,390.000		1,847.500
8.30% Trust Originated Preferred ('Series 7) (3)	0.519	0.519	0.519	0.519	2.076		0.519	0.519	0.519	0.519	2.076		0.519
8.125% Trust Originated Preferred ('Series R") (3)	0.508	0.508	0.508	0.508	2.032		0.508	0.508	0.508	0.508	2.032		0.508
7.1% Cumulative Preferred	19.878	19.878	19.878	19.878	79.512		19.878	19.878	19.878	19.878	79.512		19.878
Adjustable Rate Trust Securities	14.465	14.798	14.484	13.934	57.681		13.653	12.968	13.177	14.430	54.228		16.105
7.75% Cumulative Preferred	1.938	1.938	1.938	1.938	7.750		1.938	1.938	1.938	1.938	7.750		1.938

Capital Structure												
Total Debt $	6,835 $	6,989 $	8,475 $	7,357 $	7,357	$ 9,419 $	8,979 $	8,592 $	8,152 $	8,152		n/a
Percent	46.2	44.1	48.3	41.9	41.9	44.1	41.5	41.4	38.5	38.5		n/a
Minority Interests $	1,153 $	1,089 $	1,142 $	2,143 $	2,143	$ 2,125 $	2,475 $	1,822 $	2,430 $	2,430		n/a
Percent	7.8	6.9	6.5	12.2	12.2	9.9	11.4	8.8	11.5	11.5		n/a
Company-Obligated Preferred Securities of Subsidiaries $	993 $	993 $	993 $	1,001 $	1,001	$ 1,001 $	1,001 $	1,001 $	1,000 $	1,000		n/a
Percent	6.7	6.2	5.6	5.7	5.7	4.7	4.6	4.8	4.7	4.7		n/a
Shareholders' Equity $	5,814 $	6,787 $	6,951 $	7,048 $	7,048	$ 8,824 $	9,206 $	9,345 $	9,570 $	9,570		n/a
Percent	39.3	42.8	39.6	40.2	40.2	41.3	42.5	45.0	45.3	45.3		n/a
	Annual	Date	Optional Redemption				Securities			
PREFERRED STOCK Dividend Rate	Issued	Call Date	Price		Authorized		Original Issue	Outstanding at 313112000	
Enron Corp. Second Preferred Stock ('Series J ") (2)(3)(4) $	13.65	8/83	8193 $	100		1,370,000		2,396,455		1,286,908	
Enron Corp. Junior Maditorily Convertible Preferred Stock ("Series B") (4) (5)	6.500%	9/99	n/a	4,000		250,000		250,000		250,000	
Preferred Securities of Subsidiary Companies											
Enron Capital L.L.C. ('Series C") (3)	8.000%	11/93	11/98	25		9,200,000		8,550,000		8,550,000	
Enron Capital Resources, L. P. ("Series A") (3)	9.000%	7/94	8/99	25		3,000,000		3,000,000		3,000,000	
Enron Equity Corp.	8.570%	12/94	12/99	100,000		880		880		880	
Enron Equity Corp.	7.390%	4/96	4101	100,000		150		150		150	
Enron Capital Trust I ('Series T") (3)	8.300%	11/96	12101	25		8,000,000		8,000,000		8,000,000	
Enron Capital Trust II ("Series R") (3)	8.125%	1/97	3/02	25		6,000,000		6,000,000		6,000,000	
Private Placement	7.100%	3/97	4/02	n/a (6)		20,000		20,000		20,000	
Enron Capital Trust III	Variable	6197	Variable	1,000		200,000		200,000		200,000	
Portland General Electric Company (7)	7.750%	6/93	n/a	100		30,000,000		300,000		300,000	
(1) Adpsted to reflect two-for-one common stock split effective August 13,1999.				(5) On September 24,1999, one share d Series B Junior Menditorily Convertible Preferred Stock was issued in exchange for each share of Series
(2) Each share is convertible into 27.304 shares of Enron common stock d the holder's option following the call by Enron in 1993 (ad)ustod	for common stock spit		A Junior Voting Convertible Preferred Stock. Each share of Series B is meditodty convertible
 into 200 shares of Enron common stock on
effective August 13, 1999). The dividend is equal to the higher of $10.50 per share or the equivalent dividend that would be paid 6 the shares had been converted.		January 15, 2003.					
(3) Publicly traded an the New York Stock Exchange.				(6)	Redemption price varies based on original issue	amounts.				
(4) The Second Preferred Stock and Ore Series B Preferred Stock are both dilutive in the first quarter of 2000.			(7)	Consolidated by Enron beginning Juy 1, 1997.					

E CO6419BO100960 Printed: 4/1112000 8:28 Pg 3 3
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CONSOLIDATED BALANCE SHEET
Enron Corn. and Subsidiaries

  1998 1999
(In Millions) 3131 6130 9130 12131 3131 6130 9130 12131

Current Assets
  Cash and cash equivalents $
Trade and other receivables, net
  Assets from price risk management activities
Inventories
  Other
Total Current Assets
Investments and Other Assets
  Investments in and advances to unconsolidated equity affiliates
Assets from price risk management activities
  Goodwill
Other
Total Investments and Other Assets
Property, Plant and Equipment, at cost
  Less accumulated depreciation, depletion and amortization
Net Property, Plant and Equipment
Total Assets
Current Liabilities
Accounts payable
  Liabilities from price risk management activities
Short-term debt
  Other
Total Current Liabilities
Long-term Debt
Deferred Credits and Other Liabilities
Deferred income taxes
  Liabilities from price risk management activities
Other
  Total Deferred Credits and Other Liabilities
Minority Interests
Company-Obligated Preferred Securities of Subsidiaries
Shareholders' Equity
  Cumulative second preferred convertible stock
Junior voting convertible preferred stock
Common stock
  Retained earnings
  Cumulative foreign currency translation adjustment
Common stock held in treasury
  Restricted stock and other
Total Shareholders' Equity
Total Liabilities and Shareholders' Equity $

173 $	175 $	383 $	111	$ 296 $	286 $	316 $	288
1,936	2,762	2,337	2,893	3,534	3,522	3,851	3,548
1,889	2,120	1,654	1,904	1,554	1,756	2,156	2,205
163	291	369	514	458	557	613	598
574	523	597	511	603	772	631	616

4,735	5,871	5,340	5,933	6,445	6,893	7,567	7,255
2,649	2,761	4,382	4,433	4,632	4,779	4,968	5,036
1,281	2,370	2,063	1,941	2,271	2,364	3,052	2,929
1,883	1,884	1,976	1,949	2,690	2,696	2,636	2,799
4,007	4,091	4,509	4,437	5,076	5,599	5,578	4,681
9,820	11,106	12,930	12,760	14,669	15,438	16,234	15,445
13,942	14,318	15,064	15,792	17,197	17,507	12,924	13,912
4,695	4,810	5,037	5,135	5,612	5,691	3,149	3,231
9,247	9,508	10,027	10,657	11,585	11,816	9,775	10,681
23,802 $	26,485 $	28,297 $	29,350	$ 32,699 $	34,147 $	33,576 $	33,381
1,806 $	1,974 $	1,822 $	2,380	$ 2,694 $	2,603 $	2,281 $	2,154
1,774	1,888	1,774	2,511	1,542	2,386	2,829	1,836
-	-	1,102	-	-	-	-	1,001
669	920	1,208	1,216	1,408	1,457	1,559	1,768
4,249	4,782	5,906	6,107	5,644	6,446	6,669	6,759
6,835	6,989	8,475	7,357	9,419	8,979	8,592	7,151
2,158	2,052	2,040	2,357	2,194	2,352	1,908	1,894
884	2,086	1,222	1,421	1,852	2,068	2,521	2,990
1,716	1,707	1,568	1,916	1,640	1,620	1,718	1,587
4,758	5,845	4,830	5,694	5,686	6,040	6,147	6,471
1,153	1,089	1,142	2,143	2,125	2,475	1,822	2,430
993	993	993	1,001	1,001	1,001	1,001	1,000
133	132	132	132	131	131	130	130
		-	-	1,000	1,000	1,000	1,000
4,230	5,084	5,110	5,117	6,249	6,588	6,640	6,637
1,989	2,051	2,138	2,226	2,256	2,369	2,537	2,698
(147)	(159)	(170)	(162)	(711)	(760)	(853)	(741)
(256)	(247)	(202)	(195)	(50)	(1)	(1)	(49)
(135)	(74)	(57)	(70)	(51)	(121)	(108)	(105)
5,814	6,787	6,951	7,048	8,824	9,206	9,345	9,570
23.802 S	26.485 5	28.297 $	29.350	$ 32.699 $	34,147 $	33,576 $	$
$
33,381

EXH066-00249

ECO6419BO100961


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Pg 4

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CONSOLIDATED STATEMENT OF CASH FLOWS
Fmmn Cern_ and Subsidiaries


(in Ellions)	
3131	YTD 1998
6130 9130	
12131	
3131	YTD 1999
6130 9130	
12131
Cash Flows From Operating Activities								
Reconciliation of net income (loss) to net cash provided by (used in) operating activities								
Net income (loss) before extraordinary items	$ 214 $	359	$ 527	$ 703	$ 122 $	344	$ 634	$ 893
Cumulative effect of accounting changes, net of tax	-	-	-	-	131	131	131	131
Depreciation, depletion and amortization	182	372	587	827	215	451	676	870
Oil and gas exploration expenses	34	60	94	121	25	45	55	49
Impairment of long-lived assets	-	-	-	-	-	-	441	441
Deferred income taxes	54	60	109	87	2	(11)	(38)	21
Gains on sales of assets and investments	(27)	(32)	(31)	(82)	(40)	(65)	(461)	(541)
Changes in components of working capital	(158)	(660)	(372)	(233)	(556)	(909)	(1,072)	(1,000)
Net assets from price risk management activities	(249)	(253)	(458)	350	(518)	247	55	(395)
Merchant assets and investments:								
Realized gains on sales	(48)	(252)	(368)	(628)	(22)	(161)	(252)	(756)
Proceeds from sales	134	629	855	1,434	26	561	708	2,217
Additions and unrealized gains	(103)	(282)	(515)	(721)	(135)	(829)	(1,049)	(827)
Other operating activities	17	252	457	218	90	158	129	125
Net Cash Provided by (Used In) Operating Activities	50	251	29	1,640	660	38	43	1,228
Cash Flows From Investing Activities								
Capital expenditures	(288)	(585)	(1,231)	(1,905)	(519)	(969)	(2,022)	(2,363)
Equity investments	(49)	(151)	(1,470)	(1,659)	(409)	(648)	(718)	(722)
Proceeds from sales of investments and other assets	3	58	59	239	43	138	245	294
Acquisition of subsidiary stock	-	(180)	(180)	(180)	-	-	-	-
Business acquisitions, net of cash acquired	-	(25)	(87)	(104)	(38)	(40)	(213)	(311)
Other investing activities	158	254	262	356	207	340	447	405
Net Cash Provided by (Used In) Investing Activities	492	1,137	3171	3,965	1,130	1859	3,155	3,507
Cash Flows From Financing Activities								
Issuance of long-term debt	-	305	1,253	1,903	114	1,301	1,570	1,776
Repayment of long-term debt	(42)	(341)	(388)	(870)	(68)	(645)	(1,417)	(1,837)
Net increase(decrease)in short-term borrowings	623	769	1,997	(158)	1,119	128	2,038	1,565
Issuance of company-obligated preferred securities of subsidiaries	-	-	-	8	-	-	-	-
Issuance of common stock	2	844	867	867	839	889	889	852
Issuance of subsidiary equity	-	-	-	828	-	513	513	568
Dividends paid	(99)	(204)	(307)	(414)	(113)	(227)	(346)	(467)
Net (acquisition) disposition of treasury stock	3	7	6	13	119	181	223	139
Other financing activities	42	13	15	89	35	66	67	140
Net Cash Provided by Financing Activities	445	1,393	3,413	2,266	1,975	2,072	3,403	2,456
Increase (Decrease) In Cash and Equivalents	3	5	213	(59)	185	175	205	177
Cash and Cash Equivalents, Beginning of Period	170	170	170	170	111	111	111	111
Cash and Cash Equivalents, End of Period	173	175	383	111	296	286	316	288
Capital Expenditures								
Transportation and Distribution								
Gas Pipeline Group	$ 31 $	69	$ 164	$ 181	$ 25 $	50	S 66	$ 120
Portland General	34	72	104	129	29	60	128	196
Wholesale Energy Operations and Services	72	116	290	706	321	610	1,035	1,216
Retail Energy Services	16	27	39	75	22	34	49	64
Broadband Services	-	-	-	-	-	-	-	-
Exploration and Production	118	271	580	690	92	180	227	226
Corporate and Other	17	30	54	124	30	35	517	541
Total	288	585	1,231	1,905	519	969	2,022	$2,363
Equity Investments								
Transportation and Distribution								
Gas Pipeline Group	$ - $	-	$ -	$ 27	$ - $	-	$ -	$ -
Portland General	12	16	22	-	-	-	-	-
Wholesale Energy Operations and Services	43	160	1,475	703	381	647	709	712
Retail Energy Services	-	-	-	-	-	-		-
Broadband Services	-	-	-	-	-	-		-
Exploration and Production	-	-	-	-	-	-	-	-
Corporate and Other	6	25	27	929	28	1	9	10
Total	49	151	1470	1659	409	648	718	722

  Printed: 4/11/2000 8:28 PM
E C0641980100962 P9 5

EXH066-00250


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SELECTED FINANCIAL AND OPERATING HIGHLIGHTS
T.anenn.fafinn an/f fUefriln.tinn . (ac Pinalina r;mun

				1998						1999			2000
On Millions, Ex Where Noted		1st Qtr	2nd Qtr	3rd Qtr	4th Qtr	Year	1st Qtr		2nd Qtr	3rd Qtr	4th Qtr	Year	1st Qtr
Gas Pipeline Group													
Gross Margin	$	192	$ 137	$ 144	$ 167	$ 640	$ 181	$	124	$ 145	$ 176	$ 626	$ 201
Operating Expenses		69	68	68	71	276	61		65	64	74	264	65
Depreciation and Amortization		16	17	17	20	70	17		17	18	14	66	16
Equity in Earnings of Unconsolidated Affiliates		11	9	8	4	32	8		8	14	8	38	7
Other Income, net		8	11	2	4	25	15		22	8	1	46	1
Reported Income Before Interest and Taxes	$	126	$ 72	$ 69	$ 84	$ 351	$ 126	$	72	$ 85	$ 97	$ 380	$ 128
Northern Natural Gas (100% Owned)													
Transportation Revenues	$	150	$ 98	$ 105	$ 127	$ 480	$ 140	$	87	$ 86	$ 137	$ 450	$ 164
Average Transportation Rate (per MMBtu)	$	0.37	$ 0.28	$ 0.30	$ 0.33	$ 0.32	$ 0.35	$	0.27	$ 0.27	$ 0.40	$ 0.32	$ 0.44
Gas Transrtation BBtu/d		4,476	3,879	3,792	4,252	4,098	4,464		3,553	3,525	3,738	3,820	4,147
Transwestern Pipeline (100% Owned)													
Transportation Revenues	$	35	$ 37	$ 37	$ 36	$ 145	$ 35	$	35	$ 36	$ 36	$ 142	$ 36
Average Transportation Rate (per MMBtu)	$	0.23	$ 0.24	$ 0.25	$ 0.27	$ 0.25	$ 0.28	$	0.27	$ 0.25	$ 0.27	$ 0.27	$ 0.24
Gas Transportation BBtu/d		1,668	1,707	1,564	1,492	1,608	1,393		1,419	1,575	1,460	1,462	1,638
Florida Gas Transmission (50% Owned)													
Transportation Revenues	$	76	$ 78	$ 76	$ 76	$ 306	$ 75	$	76	$ 78	$ 76	$ 305	$ 76
Average Transportation Rate (per MMBtu)	$	0.71	$ 0.65	$ 0.56	$ 0.64	$ 0.63	$ 0.68	$	0.54	$ 0.47	$ 0.54	$ 0.56	$ 0.54
Gas Transportation BBtu/d		1,182	1,328	1,471	1,310	1,324	1,225		1,546	1,659	1,538	1,495	1,563
Northern Border Pipeline (8% Owned)													
Transportation Revenues	$	48	$ 49	$ 49	$ 51	$ 197	$ 74	$	73	$ 74	$ 78	$ 299	$ 76
Gas Transportation (BBtu/d)		1,839	1,737	1,723	1,781	1,770	2,388		2,405	2,419	2,406	2,405	2,464
Rate per 100 Dekatherm Miles	$	0.037	$ 0.037	$ 0.037	$ 0.037	$ 0.037	$ 0.037	$	0.037	$ 0.036	$ 0.036	$ 0.037	$ 0.041

  Printed' 4/1112000 8:29 PM
Pg 6
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EXH066-00251


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SELECTED FINANCIAL AND OPERATING HIGHLIGHTS

2000

Revenues (Portland General Group)											
Residential	$ 110	$ 108	$ 93 $	121	$ 432	$ 134 $	98	$ 86	$ 120	$ 438	$ 135
Commercial	84	82	94	85	345	89	86	96	96	367	92
Industrial	31	28	36	36	131	36	39	46	52	173	46
Accrued (Collected) Revenues	5	2	27	13	7	10	6	7	3	26	3
Retail Revenues	230	220	196	255	901	269	229	235	271	1,004	276
Wholesale	65	41	70	58	234	25	62	166	102	355	114
Other	25	8	14	14	61	5	5	6	4	20	7
Total Revenues	320	269	280	327	1,196	299	296	407	377	1,379	397
Purchased Power & Fuel	124	94	104	129	451	100	119	241	179	639	202
Operating Expenses	76	78	76	65	295	70	79	74	81	304	78
Depreciation & Amortization	44	45	47	47	183	46	48	43	44	181	46
Other Income (Expense)	3	10	8	2	19	9	6	3	32	50	34
Income Before Interest and Taxes	$ 79	$ 62	$ 61 $	84	$ 286	$ 92 $	56	$ 52	$ 105	$ 305	$ 105
Operating Statistics (Portland General Electric)											
Retail Customers (End of Period, Thousands)	688	694	698	704	704	708	711	714	719	719	724
Electricity Sales (Thousand MWh)											
Residential	2,076	1,524	1,449	2,052	7,101	2,342	1,618	1,440	2,004	7,404	2,361
Commercial	1,654	1,587	1,815	1,725	6,781	1,816	1,746	1,951	1,879	7,392	1,872
Industrial	891	916	834	921	3,562	1,020	1,083	1,162	1,198	4,463	1,169
Total Retail	4,621	4,027	4,098	4,698	17,444	5,178	4,447	4,553	5,081	19,259	5,402
Wholesale	3,575	2,382	2,675	2,237	10,869	1,338	3,053	4,921	3,300	12,612	4,281
Total Sales	8,196	6,409	6,773	6,935	28,313	6,516	7,500	9,474	8,381	31,871	9,683
Average Billed Revenue (¢ per kWh)											
Residential	5.91	6.40	6.45	5.75	6.07	5.73	6.08	6.04	5.99	5.91	5.72
Commercial	5.07	5.15	5.20	4.94	5.09	4.91	4.92	4.87	5.12	4.97	4.91
Industrial	3.43	3.18	4.34	3.86	3.69	3.49	3.63	3.96	4.32	3.88	3.93
Total Retail	5.13	5.17	5.47	5.08	5.21	5.00	5.03	5.01	5.27	5.08	5.05
Wholesale	1.82	1.72	2.61	2.59	2.15	1.88	2.03	3.37	3.11	2.82	2.66
Total Sales	3.68	3.89	4.34	4.27	4.03	4.36	3.81	4.15	4.42	4.18	4.00
Resource Mix											
Coal	15%	12%	19%	19%	16%	18%	12%	14%	16%	15%	13%
Combustion Turbine	7%	6%	17%	19%	12%	4%	6%	8%	14%	8%	10%
Hydro	9%	11%	7%	9%	9%	13%	10%	5%	8%	9%	8%
Total Generation	31%	29%	43%	47%	37%	35%	28%	27%	38%	32%	31%
Firm Purchases	65%	64%	47%	45%	56%	47%	61%	61%	56%	57%	62%
Secondary Purchases	4%	7%	10%	8%	7%	18%	11%	12%	6%	11%	7%
Total Resources	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%
Average Variable Power Cost (Mills/kWh)											
Generation	7.0	6.6	9.6	10.1	8.6	8.0	8.7	10.1	11.5	9.8	12.1
Firm Purchases	16.3	14.3	18.8	21.6	17.3	16.7	16.8	30.3	25.0	23.2	23.3
Secondary Purchases	14.2	12.4	32.1	28.3	23.6	15.0	18.5	22.0	27.4	19.7	25.5
Tntal Avarano Variahla Pnwar Cost	14.4	13.2	17.2	17.9	15.6	15.0	15.5	24.7	20.7	19.5	20.8


ECO6419BO100964 Primed 4/11/2000 8:29 PM
  P9' 3 6

EXH066-00252


=============
Page 38 of 46
=============

SELECTED FINANCIAL AND OPERATING HIGHLIGHTS
Wholesale Enemy Operations and Services

			1998					1999			2000
In Millions, Except Where Noted	1st Qtr	2nd Qtr	3rd Qtr	4th Qtr	Year	1st Qtr	2nd Qtr	3rd Qtr	4th Qtr	Year	1st Qtr
Income Before Interest, Minority											
Interests and Income Taxes											
Commodity Sales and Services	$ 129	$ 23	$ 152	$ 107 $	411	$ 224	$ 81	$ 172	$ 151 $	628	$ 246
Assets and Investments	151	258	160	140	709	136	325	240	149	850	220
Unallocated Expenses	(31)	(40)	(35)	(46)	(152)	(40)	(50)	(34)	(37)	(161)	(47)
Re orted IBIT	$ 249	$ 241	$ 277	$ 201 $	968	$ 320	$ 356	$ 378	$ 263 $	1,317	$ 419

Physical Volumes (BBtueld) (1)											
Gas:											
United States	7,276	6,696	7,749	7,941	7,418	9,088	8,038	8,573	10,219	8,982	16,217
Canada	2,876	3,295	3,656	4,101	3,486	3,954	4,475	4,748	4,406	4,398	4,389
Europe and Other	1,126	1,071	1,193	1,609	1,251	1,799	1,223	1,640	1,630	1,572	2,469
Total Physical Sales Volumes	11,278	11,062	12,598	13,651	12,155	14,841	13,736	14,961	16,255	14,952	23,075
Transport Volumes	450	630	643	510	559	556	513	537	693	575	456
Total Physical Gas Volumes	11,728	11,692	13,241	14,161	12,714	15,397	14,249	15,498	16,948	15,527	23,531
Crude Oil and Liquids	2,410	3,084	3,248	5,509	3,570	4,284	8,822	4,699	6,824	6,160	6,134
Electricity (2)	8,262	9,463	17,684	8,609	11,024	9,594	10,637	12,406	10,306	10,742	12,170
Total Physical Volumes	22,400	24,239	34,173	28,279	27,308	29,275	33,708	32,603	34,078	32,429	41,835
Electricity Volumes (Thousand MWh)											
United States	74,272	86,075	162,527	78,969	401,843	85,962	94,966	111,336	88,254	380,518	102,903
Europe and Other	82	40	165	242	529	384	1,833	2,795	6,564	11,576	7,844
Transaction Volumes Marketed	74,354	86,115	162,692	79,211	402,372	86,346	96,799	114,131	94,818	392,094	110,747
Financial Settlements (NotionalXBBtueld)	69,918	67,411	83,653	79,879	75,266	95,151	82,699	109,351	109,872	99,337	141,865

(1) Volumes include third-parry transactions of Enron Energy Services
(2) Represents electricity volumes, converted to BBtue/d.

ECO6419BO100965

Printed'. 4/11/2000 8'29 PM
  Pg 8 3 7


EXH066-00253


=============
Page 39 of 46
=============

Enron Broadband Services
Operating Results
  (in millions)

			1999					1998		
	IQ	2Q	3Q	4Q	Total	1Q	2Q	3Q	4Q	Total
										
Asset Operations										
Revenues	0.4	16.5	39.8	107.8	164.5	0.2	3.2	0.5	4.6	8.5
Gross margin	0.3	10.6	27.1	90.5	128.5	0.2	1.6	0.4	3.1	5.3
Expenses	(6.3)	(22.1)	(103.7)	38.4	(93.7)	(1.6)	(3.8)	(3.1)	(4.2)	(12.7)
Other income/expense	1.7	(0.6)	4.8	(3.0)	2.9	1.5	8.1	4.1	8.2	21.9
IBIT	(4
3)	(12.1)	(71.8)	125.9	37.7	0.1	5.9	1.4	7.1	14.5
	.									
Merchant Activity										
Revenues	18.8	286.0	37.0	-	341.8	-	-	-	-	-
Gross margin	18.8	286.0	37.0	-	341.8	-	-	-	-	-
Expenses	-	-	-	-	-	-	-	-		
Other income/expense				-		-	-	-		
IBIT	18.8	286.0	37.0		341.8					
										
										
Total IBIT per Hyperion (EC14)	14.5	273.9	(34.8)	125.9	379.5	0.1	5.9	1.4	7.1	14.5
YTD Total	14.5	288.4	253.6	379.5		0.1	6.0	7.4	14.5	
Hyperion Topside Entries										
Compensation expenses (a)	-	(73.0)	73.0	(66.0)	(66.0)	-	-	-	-	-
Amort of hedge premium (b)	-	-	-	(10.5)	(10.5)					
Total	-	(73.0)	73.0	(76.5)	(76.5)				-	-
										
										
Adjusted IBIT related to EBS	14.5	200.9	38.2	49.4	303.0	0.1	5.9	1.4	7.1	14.5

Revenues 1 0.4 16.5 39.8 107.8 164.5 1 0.2 3.2 0.5 4.6 8.5

Gross margin	0.3	10.6	27.1	90.5	128.5	0.2	1.6	0.4	3.1	5.3
Expenses	(6.3)	(95.1)	(30.7)	(27.6)	(159.7)	(1.6)	(3.8)	(3.1)	(4.2)	(12.7)
Other income/expense	1.7					1.5	8.1	4.1	8.2	21.9
[BIT	(4.3) (d)	(85.1)	1.2	59.9	(28.3)
1	0.1	5.9	1.4	7.1	14.5
Merchant Activity as adj										
Revenues	18.8	286.0	37.0	(10.5)	331.3	-	-	-	-	-
Gross margin	18.8	286.0	37.0	(10.5)	331.3	-	-	-	-	-
Expenses	-	-	-	-	-	-	-	-	-	
Other income/expense			-						-	-
IBIT	18.8 (.)	286.0	37.0	(10.5)	331.3				-	-
Total [BIT as adj	14.5	200.9 (.)	38.2 (.)	49.4 1.	) 303.0	0.1 10)	5.9 1~)	1.4 (c)	7.1 (d)	14.5

  (a) Recorded in Hyperion line 1325 (op expense) in WHOLE4C (recorded in ECI4 at 9/30/99)
(b) Recorded in Hyperion line 1070 (other revenues) in WHOLE4C (recorded in ECI4 at 9/30/99)
(c) Reported in Portland General results
  (d) Reported In Corporate and Other results
(e) Reported in Wholesale results

EBS IBIT.xis, EBS

ECO6419BO100966

3/31/2000. 10 3R AM

EXH066-00254


=============
Page 40 of 46
=============

N

  Enterprise Telephony Services
(713) 853-1717
http://home.Enron.com:84/telephony/index. h tm




:XH066-00255


'~F, ;/
*1 1419
Jep I

JeD I ~



  3Z
C6 ~
I I


3


  Natural gas. Electricity. Endless possibilities. TM

ECO6419BO100967



=============
Page 41 of 46
=============



Initial Target

50% ETOL adjustment
Adjusted Target

If we decide to not 50/50 external
view, then the following occurs:
100% ETOL to Retail Segment

  Internal
External esco o a

  75 75 25 100
21 - 21
75 96 25 121

42 21 - 21
117 117 25 142

Questions:
1. Should we show 100% of EES Europe (including ETOL) as Retail. What
  is our external story for splitting?

  2. If we show 100% of EES Europe as Retail, does our external story go to $117MM,
or do we still hit $75MM (remembering that ETOL = $40 million)?

I 19

ECO6419BO100968

=XH066-00256


=============
Page 42 of 46
=============

Enron Corp
1st Qtr 2000

Transportation and Distribution

Flash

Gas Pipeline Group	127.6
Portland General	116.9
	244.5
Wholesale Energy Operations and Services	
ENA	167.9
Europe	68.5
less ETOUEnron Direct (trans to EES)	(8.9)
ESA	37.0
India	11.2
CALM E	24.1
APACHI	(4.3)
EE&CC	3.4
EGEP	4.8
Other Intl (incl San Juan and HQ)	(7.0)
ECM (incl Rhythms)	121.5
plus Rhythms (trans from Corp)	-
	418.2

Retail Energy Services
  plus minority interest in EES (in ENRON4C)
plus ETOUEnron Direct (trans from Europe)

Broadband Services

Corporate and Other
EREC
  plus minority interest in EREC
Clean Fuels
  Corporate (incl Azurix, prior costs)
less Rhythms (trans to Wholesale)
EEDC
  ECM (Project Steele)

  IBIT
Interest and Related Charges, net
Dividends on Preferred Securities
of Subsidiaries
Minority Interests
Elektro
Rawhide
Cherokee

Pretax earnings

Income Tax Expense
Net Income
Preferred Dividends:
  Second preferred stock
  Series A and B Preferred Stock
Earnings on Common Stock

Average shares (diluted)
EPS (diluted)

Memo: Intl regions (incl San Juan & HQ)
Tax rate
1q99 EARNINGS.xIs, compare

  7.5
0.2
8.9
  16.6
(0.3)
12.5
  0.6

  6.8
(54.0)
625.0
(162.3)

(17.7)

(10.7)
(14.2)
  (9.7)
(34.6)

410.4

  (72.2)
338.2

  (4.4)
(16.4)
317.4
851.9
0.397

  61.0
17.6%

Forecast Duff
127.5 0.1
116.9 -
244.4 0.1

167.9
65.6
(8.0)
36.2
  8.7
22.3
(4.4)
4.2
4.5
(6.5)
90.6
18.0
399.1

10.0

  8.0
18.0

2.9
(0.9)
0.8
2.5
1.8
0.1
(0.8)
0.3

30.9

  19'l
(2.5)
0.2
0.9
(1.4)


12.3
0.7

8.6
(45.2)

616.3
(155.0)

(17.1)
(9.3)
(15.0)
  (9.7)

  (34.0)

410.2

  (72.2)
338.0

(4.0)
(15.0)

  319.0
853.7
0.396

17.6%

(0.3)

0.2
(0.1)
0.1.

  1~0
(1.8)
(8.8)
8.7
(7.3)
(0.6)
(1.4)
0.8
(0.6)
0.2

  0.2

  (0.4)
(1.4)
(1.6)

4/7/2000, 5:18 PM
  ECO6419B0100969

EXH066-00257


=============
Page 43 of 46
=============

1st Quarter 2000

12131199 Activity 03131/00 Average

Basic Common Shares	715,527			
Preferred Stock Conversions		253		
Stock Options Exercised		11,288		
Restricted Stock Granted		1,381		
Shares Repurchased		-		
Other Benefit Plans (net)		(593)		
			727,857	722,497
Conver. Stock (Series J)	35,391			
Conversions		(253)		
			35,138	35,163
Employee Stock Options *	29,486			
Stock Options Exercised		(11,288)		
Run-up in Stock Price		23,819		
Stock Options Granted		3,527		
Other		-		
			45,545	39,858
Stock Options Issued to EOG Resources *	3,574			
Vesting		-		
Run-up in Stock Price		1,151		
			4,725	4,357
Other Puts	-	-	-	-
	783,979	29,286	813,265	801,874
Jr. Conver. Stock (Series B)	-	50,000	50,000	** 50,000
	783,979	79,286	863,265	851,874

* Accounted for on the Treasury Method
  We are now excluding $15 million per quarter in dividends


=XH066-00258

  Change from Prior Year
03131/99 Estimate 03/31/00
704,152
  721
23,681
3,311
(3,691)
  (318)
  727,857

35,859

  (721)
  35,138
22,025
  (23,681)
41,534
5,668
45,545

1,241		
	1,241	
	2,244	
		4,725
1,314	(1,314)	-
764,591	48,674	813,265
-	50,000	50,000
764,591	98,674	863,265

ECO6419BO100970


=============
Page 44 of 46
=============



RECURRING

Transmission & Distribution
Enron Gas Pipeline Group
Portland General
Total Transmission & Distribution
Wholesale Energy Operations & Services
North America
Europe
International Regions
South America
India
  CALMS
APACHI
Engineering & Construction
  Headquarters

  San Juan Gas
Enron Global Finance
Global E&P
Reclass tolfrom Corp & Other Adjustments
Rhythms, NBPL Monetization & Tomas
Total Wholesale Energy Ops. & Services
Enron Energy Services
  Minority Interest in EES

Enron Communications
Exploration & Production
EOG
Gas and Oil Hedge - Corporate
Total Exploration & Production
Corporate and Other
Azurix
Enron Renewable Energy Corp (EREC)
Minority Interest in EREC
Clean Fuels
EOTT
Resco
EEDC
Corporate & Other Expenses
ECM Equity Portfolio
Reclass from\to Wholesale
Total Corporate & Other
Overview
INCOME BEFORE INT., M.I. & INC. TAXES
Interest Expense, Net
  Dividends on Preferred Stock of Subsidiaries
Minority Interest - EOG
  Minority Interest - Elektro
  Minority Interest - Nighthawk & Rawhide
PRE-TAX INCOME
  Income Tax Expense
NET INCOME - RECURRING
Whitewing Dividends
NET INCOME after anti-dilutive preferred dividends
NON-RECURRING
TOTAL NET INCOME after dilutive pref. div.
DILUTED EPS
Recurring
Non-recurring
TOTAL DILUTED EPS
Avg shares outstanding - Diluted

Effective Tax Rate - Recurring Earnings

o rEuo40ueam..KpvJuf

	1st Quarter	
2000	1999	1998
Plan	Actual	Actual
127.5	126.2	126.0
125.9	91.3	78.8
253.4	217.5	204.8
143.4	125.0	93.2
72.7	65.9	64.1
36.2	38.5	
6.1	(3.0)	
7.3	14.1	
(4.4)	20.1	
4.2	34.8	
(2.0)	8.8	43.9
47.4	113.3	43.9
(1.5)	(1.9)	(0.9)
37.8	49.0	21.9
3.7	-	-
(7.1)	(46.1)	-
15.0	-	27.0
311.3	305.2	249.2
5.0	(32.8)	(27.3)
(0.0)	1.7	
5.0	(31.1)	(27.3)
(11.0)	14.6	-
-	(10.6)	37.3
	22.8	6.0
	12.2	43.3
(0.3)	2.0	-
15.6	13.4	(5.1)
(1.5)	1.2	1.0
(5.5)	(10.6)	-
		(4.8)
(1.4)	(0.0)	-
(51.0)	(37.8)	(19.5)
		26.6
7.1	46.1	3.1
(37.0)	14.3	1.3
92.0	-	-
613.6	532.7	471.3
170.4	174.6	132.3
192	18.9	19.3
-	(6.1)	12.4
9.8	12.1	-
19.6	26.5	13.2
394.6	306.7	294.1
87.7	53.3	80.4
307.0	253.4	213.7
15.0		
292.0	253.4	213.7
	(131.0)	
292.0	122.4	213.7
0.37	0.34	032
	(0.18)	
$ 0.37	$ 0.16	$ 0.32
788.2	744.6	659.6

ENRON
EARNINGS RELEASE - EXTERNAL FORMAT
  (Millions of Dollars, except as rated)

	2nd Quarter	
2000	1999	1998
Plan	Actual	Actual
49.1	72.3	72.1
54.5	56.2	61.7
103.6	128.5	133.8
187.6	157.4	92.5
43.5	35.6	18.8
39.0	49.6	
6.0	(0.3)	
22.1	17.7	
0.4	(3.9)	
18.2	17.1	
(2.0)	19.2	94.0
83.7	99.4	94.0
(1.3)	(2.4)	(0.9)
37.7	39.0	14.2
1.0	-	-
(7.0)	10.2	-
15.0	16.0	22.0
360.2	355.2	240.6
7.4	(28.2)	(46.0)
(0.1)	1.5	3.6
7.3	(26.7)	(42.4)
(16.0)	0.1	-
	15.3	32.6
	4.2	(3.5)
	19.5	29.1
(0.3)	42.7	-
9.8	29.9	(6.5)
(0.9)	(3.4)	1.6
2.9	(5.5)	(0.1)
-	-	0.8
-	(3.7)	-
(0.5)	(1.5)	-
(51.0)	(56.4)	(36.7)
-	-	21.5
7.0	(10.2)	3.0
(33.0)	(8.1)	(16.4)
137.0	-	-
559.1	468.5	344.7
179.8	174.5	131.3
19.2	18.9	19.9
-	(0.5)	5.7
9.8	9.6	-
19.5	13.5	13.2
330.7	252.5	174.6
72.8	30.0	29.7
258.0	222.5	144.9
15.0	14.8	
243.0	207.7	144.9
243.0	207.7	144.9
0.31	0.27	0.21
.31
$ 0	
S 0.27	
$ 0.21
794.9
L	772.1	692.6

	3rd Quarter	
2000	1999	1998
Plan	Actual	Actual
68.6	84.8	68.7
50.4	52.4	61.2
119.0	137.2	129.9
209.9	150.9	87.8
41.0	19.2	56.5
65.0	62.8	
0.3	2.9	
17.0	10.8	
(1.2)	(1.0)	
32.5	19.1	
(2.0)	26.6	50.9
111.6	121.2	50.9
(1.5)	(2.4)	(2.2)
37.7	71.8	19.9
5.9	6.7	-
(7.3)	(26.7)	-
45.0	37.0	64.2
442.3	377.6	277.1
15.6	(18.7)	(24.5)
(0.4)	1.0	1.4
15.2	(17.7)	(23.1)
(8.7)	(0.8)	-
	32.7	17.6
		7.2
	32.7	24.8
(0.3)	(0.8)	-
8.0	2.6	1.8
(0.7)	(0.1)	0.8
(5.5)	(3.9)	0.8
	-	1.6
	(3.5)	-
(0.3)	(0.8)	-
(51.0)	(41.0)	(47.5)
-	-	32.9
7.3	26.7	5.5
(42.5)	(20.8)	(4.1)
47.0	-	-
572.3	508.2	404.6
187.5	188.2	134.6
19.2	18.9	18.4
-	7.9	2.4
9.9	8.0	-
20.0	22.3	13.0
335.8	262.9	236.2
73.7	39.2	67.7
262.1	223.7	168.5
15.0	15.8	
247.1	207.9	168.5
	66.9	
247.1	274.8	168.5
0.30	0.27	0.24
	0.09	
$ 0.30	$ 0.35	S 0.24
818.6	781.6	712.6

	4th Quarter	
2000	1999	1998
Plan	Forecast	Actual
146.2	96.7	84.7
73.2	105.2	84.5
219.4	201.9	169.2
140.0	80.2	48.7
86.0	38.3	27.9
199.4	61.2	
35.4	11.2	
28.9	19.2	
23.6	1.9	
35.1	11.1	
(1.8)	(14.5)	133.4
320.6	90.1	133.4
(1.6)	(2.1)	(5.9)
37.8	23.0	1.8
8.9	6.5	-
(7.2)	(16.7)	-
15.0		(19.5)
599.5	219.3	186.4
72.0	10.3	(28.2)
(0.7)	(0.5)	1.6
71.3	9.8	(26.6)
6.1	52.6	14.5
-	-	21.4
		9.2
		30.6
(0.2)	(19.8)	6.0
29.8	13.6	16.3
(3.2)	(1.5)	(2.2)
(5.2)	(5.1)	-
	25.0	-
(0.0)	(0.9)	
(43.8)	(40.5)	(47.9)
-	-	35.9
7.2	16.7	18.6
(15.4)	(12.5)	26.7
(196.0)	-	-
684.8	471.1	400.8
191.1	121.7	152.3
19.2	18.9	19.0
-	-	3.8
9.9	19.6	-
21.9	23.5	13.3
442.7	287.4	212.4
97.1	32.5	41.3
345.6	254.9	171.1
15.0	18.3	
330.6	236.6	171.1
		5.1
330.6	236.6	176.2
0.40	0.30	0.24
$ 0.40	$ 0.30	$ 0.24
826.8	780.7	716.4

	Total Year	
2000	1999	1998
Plan	Forecast	Actual
391.4	380.0	351.5
304.0	305.1	286.3
695.4	685.1	637.8
680.9	513.5	322.2
243.2	159.0	167.3
339.6	212.1	-
47.8	10.8	-
75.3	61.8	-
18.4	17.1	-
90.0	82.1	-
(7.8)	401	322.2
563.3	424.0	322.2
(5.9)	(8.8)	(9.9)
150.9	182.7	57.7
19.5	13.2	-
(28.6)	(79.3)	-
90.0	53.0	93.7
1,713.3	1,257.3	953.3
100.0	(69.4)	(126.0)
(1.3)	3.7	6.6
98.7	(65.7)	(119.4)
(29.7)	66.5	14.5
-	37.4	108.9
	27.0	18.9
	64.4	127.8
(1.1)	24.1	6.0
63.2	59.5	6.5
(6.3)	(3.8)	1.2
(13.3)	(25.1)	0.7
	-	(2.4)
	17.8	-
(2.2)	(3.2)	-
(196.8)	(175.7)	(151.6)
-	-	116.9
28.6	79.3	30.2
(127.9)	(27.1)	7.5
80.0	-	-
2,429.9	1,980.5	1,621.4
728.8	659.0	550.5
76.7	75.6	76.6
-	1.3	24.3
39.5	49.3	-
81.0	85.8	52.7
1,503.9	1,109.5	917.3
331.2	155.0	219.1
1,172.7	954.6	698.1
60.0	48.9	
1,112.7	905.7	698.1
	(64.1)	5.1
1,112.7	841.6	703.2
1.38	1.18	1.00
	(0.08)	0.01
$ 1.38	$ 1.09	$ 1.01
807.1	770.0	695.2

22.2% 17.4% 27.3% 22.0% 11.9% 17.0% 21.9% 14.9% 28.7% 21.9% 11.3% 194% 22.0% 14.0% 23.9%

EC06419BO100971

EXH066-00259


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:z CD 0 C-7)
~Lds-
FLOOR PRICE ANALYSIS
RHYTHMS
3/31/2000 As of
  As of YE 1999 As in Q1 Plan 3/31/00 2:58 PM
Shares Price Price Price
Enron 3,114,356 $ 44.38 $ 71.31 $ 75.06 3/22/2000
Rhythms 5,393,258 $ 31.00 $ 41.25 $ 36.81

LJM Collateral
  Enron Stock 138,215,119 222,092,512 233,771,347
Cash 3,750,000 3,750,000 3,750,000
Total 141,965,119 225,842,512 237,521,347
Marked Option Value 221,731,691 105% 186,995,899 95% 196,465,539 95%
Marked Rhythms Value 167,190,998 222,471,893 198,539,310
Total 388,922,689 409,467,792 395,004,849
LJM Deal
  Capital to Remain in LJM NA 30,000,000 30,000,000
Implied Value of Option NA 195,842,512 207,521,347 102%
Gain / (Loss)
  Options NA (25,889,179) (14,210,344)
Rhythms Shares NA 55,280,895 31,348,312
Transaction Cost 1% NA (2,224,719) (1,985,393)
Total NA 27,166,997 15,1,12,575

  Ct.) i

.1 -f
011- A-

EC06419B0100972

=XH066-00260


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Rhythms Gain / (Loss) Analysis
Position from QI 2000

Ghost Unwind
  Shares 2,392,058
Price $ 36.81 3/31/2000
$ 25.41 Current

Value at Q12000	
Current Value		
Gain / (Loss)		M to M
Spector Unwind		
Shares	3,001,200	
Price	$ 36.81	3/31/2000
	$ 32.75	4/10/2000
	$ 25.41	Current

Value at Q12000
Value at 4/10/2000
Current Value
Gain / (Loss)

Total Gain / (Loss)

Case I

  88, 058, 831
60,773,224
(27,285,608)

110,483,176
98,289,300
76, 249, 238
M to M (34,233,938)

M to M (61,519,546)

M to M

Case 2

  88, 058, 831
60,773,224
(27,285,608)

Move to Equity (12,193,876)

Move to Equity (39,479,483)

EC06419BO100973

:XH066-00261