From: Stephen Schwarzbach           03/27/2001 09:22
		   AM


To:       Wes GoIweII/Enron@EnronXGate
cc:

Subject:  Earnings Schedules


RACFuIIYr_revised326_WC. EWS_FKiIlen_327.xI

						       1T
							  EXHIBIT
						       166201





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

					       First Quarter

Transmission & Distribution
  Enron Transportation Services
  Portland General
Total Transmission & Distribution

							  2001

					      Plan       Update      Forecast

					    $  130.0
					       100.0
					       230.0

Wholesale Energy OperatIons & Services
  Americas
  Europe
  Global Markets
  Industrial Markets
  Net Works
  Global Assets
  Other Wholesale
   Subtotal
  Global Finance
  Global E&P
  EES Wholesale books
  P repays
  Other
Total Wholesale Energy Ops. & Services

Enron Energy Services

Enron Broadband ServIces

Corporate and Other
  Azurix
  Enron Renewable Energy Corp
  Clean FueLs
  Enron Investment Partners
  Corporate & Other Expenses
  Structured Transactions
  Reclass from/to Wholesale
Total Corporate & Other

						265.5
						 80.5
						 45.0
						  8.5
						 (4.4)
						 88.1
					    -il~
						482.3
						 49.5
						  4.7

						(35.1)
						105.5
						606.9

						 48.5

						(35.0)


						(17.1)
						(10.0)
						(16.3)
						  (0.1)
						 (61.6)
						  4.0

						(101.1)

OvervIew

					 $

							   (43.8)
							   (43.8)

								   $   130.0
								       56.2
								       186.2

							   440.6         706.1
							       -          80.5
							       -         45.0
							       -           8.5
									  (4.4)
									  51.9
						       __________        (20.0)

									 867.6
									  25.0
									  15.0
									(135.0)
							       -         (35.1)
							   (115.7)       (10.2)
							   120.3         727.2

							   (36.2)
							   (19.2)
							   385.2
							   (24.5)
							    10.3
							  (135.0)

							    (8.9)

									39.6

								       (35.0)

							   (14.4)
							    (8.0)
							     0.2

									(31.5)
									(18.0)
									(16.1)
							       -         (0.1)
							   (20.0)       (81.6)
							       -          4.0

							   (42.2)      (143.3)

						22.4        (22.4)

INCOME BEFORE INT., Mi. & INC. TAXES

   Interest Expense, Net
   Dividends on Preferred Stock of Subsidiaries
   Minority Interest
PRE-TAX INCOME
   Income Tax Expense
NET INCOME - RECURRING

DILUTED EPS
  Recurring
  Non-recurring
TOTAL DILUTED EPS

						771.7

						203.2
						 18.4
						 23.8
						526.3
						126.3
					     $  400.0
					    =


					     $   045

					     $   0.45
					    =

Avg shares outstanding . Diluted

Effective Tax Rate - Recurring Earnings

							     3.0        774.7
							     0.2        203.4
							       -         18.4
									 37.2
									515.7
									1238
								     $  391.9

					    13.4
					    (10.6)
					    (2.5)
					 $  (8.1)


					 $    -

					 $    -

						885,0
						24.0%

								    $   045

								    $   0.45

									875.7
									24.0%

C:VOCUM~-laioutontOCAtS-1iT.mpAo4,sOlB2534EwsFKtl.n327.~slIaIT ad] EBS MEL (2)
3/lee B~2l PM

01 vs 00


Growth


  -20%

 2000
 Actual

$  127.9
   105.3
   233.2

137.5
 67.7
 50.0

(14.2)
 67.5

308.5
104.4
  4.1

(22.9)
 29.8
423.9

 11.3

72%

250%

 (0.3)


 (6.0)
 11.9
 (3.3)
 (0.4)
(35.7)
 6.8
(17.4)
(44.1)

28%
26%

     612.7
     161.1
     18.1
     34.9
     398.6
     72.2
 $   326.4
C


 $   038

 $   0.38
C

29%

20%

18%

86 1,9
18.1%





				 ENRON
		2001 OPERATING & STRATEGIC PLAN - FORECAST
		 INCOME BEFORE INTEREST & TAXES BY BUSINESS UNIT
			     (Millions of Dollars, except as noted)

				    Plan

						 Effect of
					       Asset Sales
						 Timing

							      Adjusted
							      Forecast

									      Other
									   Adjustments

Americas

Europe
Global MarRats
Industrial Markets

Net Works
Global Assets
Other Wholesale
 Subtotal

$      957.9

       347.6

       270.0

	63.0

       103.8

       276.9

	(3.1)

     2016.1

$

	 $     967.9

	       347.6

	       270.0

		63.0

	       103.8

51.3           328.2

		(3.1)

	     2,067.4

51.3

$

815.4    $    1,773.3

   -            347.6

   -            270.0

		63.0

		103.8

		245.4


	      2,800.0

(82.8)


732.6

Global Finance

EGEP
EES Wholesale books
Prepays
Structured Transactions & Other
  Subtotal Wbolesale

Enron Transportation Services
Portland General
  Subtotal Transmission & Distribution

EES
EBS
Azurix
EREC
Clean Fuels

Enron investment Partners
Corporate and Other
Overview
Income before Int & Inc Taxes
Financing Related Expense
Income Tax Expense
TOTAL NET INCOME-RECURRING
Antldilutlve preferred dIvIdends
TOTAL NET INCOME-RECURRING
Non-Recurring Net Income
TOTAL NET INCOME

DILUTED EPS
  Recurring
  Non-recurring
TOTAL DILUTED EPS

				       160.0

					4.7


				       (168.3)

				       293.2
				     2,305.7

				       390.0

				       100.0

				       490.0

				       269.0

				       (65.0)

				       (75.4)

				       (10.0)

				       (30.6)

					(0.5)

				       (226.6)

				       (30.0)

				     2626.6

				       623.4

				       480.8

				$    1,522.4


				     1,522.4


				     1,522.4


				$       171

				$       1.71

Avg shares outstanding - Diluted


Effective Tax Rate . Recurling Earnings

						    885.0


						    24.0%

C  0  The-l~usonu.OCAts..i~T.nwt4m.a,a2S3,4..1974eea MINW.RAC  C w ~.4175
    tfl PM

 Total
Adjusted
Forecast

15.3

160.0

20.0

(135.0)

66.6

       (168.3)

       293.2

      2,372.3

       390.0

       191.8

       581.8

       269.0

       (65.0)

       (75.4)

       (10.0)

       (30.6)

	(0.5)

       (226.6)


      2,815.0

       918.0

       455.3

$     1,441.7


      1,441.7


      1,441 7


$       162

$       162

       160.0

       20.0
      (135.0)

      (168.3)

       148.2
      2824.9

       390.0

       191.8

       581.8

       225.0
       (65.0)

       (92.7)
       (18.0)

       (30.6)

	(0.5)

      (290.6)


      3,134.3

      1,093.2

       489.9

$     1,551.2


      1,551.2


      1,551.2


$       175

$       175

       91.8

       91.8


       30.0

       188.4

       294.6

       (25.5)

$      (80.fl


       (80.7)


       (80.7)


$      (0.09)

$      (0.09)

      (145.0)

       452.6


       (44.0)


       (17.3)

	(8.0)


       (64.0)


       319.3

       175.2

	34.6

$      109.5


       109.5


       109.5


$       013

$       013

885.0


24.0%

885,0


24.0%

885.0

885.0

24.0%

24.0%





			       EN RON
	       2001 OPERATING & STRATEGIC PLAN - FORECAST
		INCOME BEFORE INTEREST & TAXES BY BUSINESS UNIT
			   (Millions of Doflars, except as noted)

				    Plan

						 Effect of
					       Asset Sales
						 Timing

							      Adjusted
							      Forecast

									      Other
									   Adjustments

Americas

Europe

Global Markets
Industrial Markets
Net Works

Global Assets
Oilier Wholesale
 Subtotal

$      957.9

       347.6

       270.0

	63.0

       103.8

       276.9

	(3.1)

     2,018.1

$

	$      957.9

	       347.6

	       270.0

	       63.0

	       103.8

51.3           328.2


	     2,067.4

51.3

$

1,035.2    S    1,993.1

     -           347.6

     -           270.0

     -            63.0

     -           103.8

 (82.8)          245.4

		  (3.1)
		3,019.8

952.4

Global Finance
EGEP

EES Wholesale books

Prepays
Structured Transactions & Other
  Subtotal Wholesale

Enron Transportation Services
Portland General
  Subtotal Transmission & Distribution

EES
EBS

Azurix
EREC

Clean Fuels
Eriron Investment Partners
Corporate and Other
Overview
Income before mt & Inc Taxes
Financing Related Expense
Income Tax Expense
TOTAL NET INCOME-RECURRING
Anti-dIlutIve preferred dIvIdends
TOTAL NET INCOME-RECURRING
Non-Recurring Net Income
TOTAL NET INCOME

DILUTED EPS
  Recurring
  Non-recurring
TOTAL DILUTED EPS


Avg shares outstanding . Diluted


Effective TaxRate. Recurring Earnings


o ~ vm B cmi .~ 175
3d1/~ 122 P'4

 Total
Adjusted
Forecast

160.0

 4.7

15.3

160.0

20.0

(168.3)

 293.2
2,305.7

(135.0)

66.8

 180.0

  20.0
(135.0)

(168.3)

 148.2

3,044.7

(145.0)
672.4

     (168.3)

       293.2
     2,372.3

       390.0

       191.8

       581.8

       269.0

       (65.0)

       (75.4)

       (10.0)

       (30.6)

	(0.5)

       (228.6)


     2,815.0
       916.0

       455.3

$    1,441.7


     1,441.7

       91.8
       91.8


       30.0

       188.4

       294.6

       (25.5)

$      (80.7)


       (80.7)

       390.0

       100.0

       490.0

       269.0

       (65.0)

       (75.4)
       (10.0)

       (30.6)

	(0.5)

       (226.6)

       (30.0)

      2,626.6
       623.4

       480.8

$     1,522.4


      1,522.4


      1,622.4


$       1.71

$       1.71

       390.0

       191,8
       581.8

       225.0

       (65.0)

       (92.7)
       (18.0)

       (30.6)

	(0.5)

       (290.6)


     3,354.1

     1,093.0

       542.7

$    1,718.4


     1,718.4


     1,718.4


$       1.95

$       1.95

       (44.0)


       (17.3)

	(8.0)


       (64.0)


       539.1

       175.0

	87.4

$      276.7


       276.7


       278.7


$       033

$       033

(80.7)

$      (0.09)

$      (0.091

$       1.62

$       1.62

885.0


24.0%

885.0


24.0%

885.0


24.0%

885.0

885.0

24.0%

24.0%





			 ENRON
	      2001 OPERATING & STRATEGIC PLAN
		     ENRON AMERICAS
		 SUPPLEMENTAL INFORMATION
			(Millions of Dollars)

Schedule C Reserves - 3/1/0 1

Specific Reserves -
 California Credit
 Specific Transactions
 Volatility

Gain on Sale of Peakers

HPL

Additional Oveiperformance-ENA

Available for Earnings

To cover overview & additional EPS

Net remaining (Raptor cover, etc.)

     450.0

$    700.0

     (440.6)

$    259A

     450.0

$   1,330.0

     (815.4)

$    514.6

Current Status: Assumes ENA will hit original 02, 03 & 04 plan (IBIT $692.4 million)


a) Assumes 30% recovery on -$550 million of negative CTC receivabre.

b) Assumes any amount funded with "new money".


CADOCUME-IVloustofl~LOCALS--1Vten,p~,otes81 8253M-l9748e9.xIs]NTY-RAC ver B w net adj 175

3flIDB 9:22 PM

1st Qtr

$   1,100.0

   Year

$   1,100.0

(400.0) (a

(150.0)

(300.0)

(400.0)

(150.0)

 -  (b

430.0

(100.0)