UPDATE:  Rethinking Retail Energy - Market Risks & Opportunities ,
 Mr. Jeffrey K. Skilling 
CEO 
Enron Corp. 

Dear Mr. Skilling: 

I am pleased to invite you to attend Rethinking Retail Energy: Market Risks & 
Opportunities.? To be held June 19-21 at the Royal Sonesta Hotel in 
Cambridge, MA, this CERA Executive Retreat will bring together leaders from 
the utility, energy service provider, technology, and financial communities 
for presentations and interactive discussions on strategic challenges and 
opportunities in today's retail energy markets.? In addition to CERA's 
experts, we also have a number of outstanding speakers confirmed, including:

* Bob Dickerman, President, Sempra Energy Solutions 
* Kevin Fox, Senior VP & General Manager - Trading, Marketing & Risk 
Management, Aquila 
* Carol Guthrie, Group Manager -- Electricity Supply, Chevron 
* John Hughes, Director -- Technical Services, ELCON 
* Tony Lopez-Lopez, Chief Energy Operations Officer, SmartEnergy 
* Deidre Lord, Director of Operations, AES NewEnergy 
* Jim Niewald, Marketing Director, First Choice Power 
* Alan Raymond, President, Shell Energy Services 
* Martin Wenzel, Vice President - National Energy Sales, Enron Energy 
Services 

To review the most up-to-date agenda and program details, please visit our 
website at: http://www20.cera.com/event/cambridge .

The program will begin on Tuesday evening, June 19 with an informal welcome 
reception and dinner, will continue on Wednesday morning, June 20, and 
concludes early in the afternoon on Thursday, June 21.? In addition to the 
timely and insightful presentations, the program also provides substantial 
opportunities for networking with CERA staff, members of CERA's Retail Energy 
Advisory Service, and other invited guests.? The current attendee list 
includes senior representatives of leading companies including:

* AES NewEnergy 
* Allegheny Power 
* Chevron Energy Solutions 
* Cinergy Capital & Trading 
* CMS Marketing, Services & Trading 
* Detroit Edison 
* Entergy Services 
* Exelon Energy 
* Idaho Power 
* Itron 
* Mirant 
* NewPower Company 
* OGE Energy 
* Ontario Power Generation 
* Peace Software 
* Reliant Energy 
* Riverstone Holdings 
* Schlumberger RMS 
* Select Energy 
* Sempra Energy Solutions 
* Shell Energy Services 
* Williams Energy Marketing & Trading 

I sincerely hope you will be able to join us.? To register, please complete 
and return the enrollment form found on the CERA website at 
http://www20.cera.com/event/cambridge .

Best regards, 

David Gibbons 
Commercial Director, Retail Energy 
Tel: +1 617 441 1319 
dgibbons@cera.com 

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jeff.skilling@enron.com