 on the largest energy
exchange's trading floor that they could not accept orders from
Enron Corp. unless they receive written authorization from an
exchange clearing member.

     The order is effective immediately and will ``remain in
effect until further notice from the exchange,'' according to a
fax Collins sent today to member firms. A copy of the fax was
obtained by Bloomberg News. Exchange officials did not immediately
return phone calls.

     Enron's worsening financial condition has made many clearing
members, which back trades on the exchange for a fee, wary of
taking on additional business from Enron. The Nymex order aims to
alert independent floor brokers that clearing members who once
freely accepted Enron trades may no longer be so willing, analysts
said.

     Nymex is ``reminding everyone that it's not business as usual
when it comes to Enron,'' said Tim Evans, senior energy analyst at
IFR Pegasus in New York, a unit of Thomson Corp. ``For Enron, it
mean slower order execution -- as if they don't have enough
handicaps already.''

     Enron may be forced to file for bankruptcy to liquidate
assets to pay off some of its $15 billion in publicly held debt,
analyst said. Enron shares fell 24 cents to 37 cents in afternoon
trading. That's down from about $80 at the beginning of this year.

                       Covering Enron Debts

     Under exchange rules, clearing members would be forced to
cover Enron's obligations if the firm defaulted on its positions.

     Many energy traders, including rivals Mirant Corp. and Aquila
Inc., already have reduced the number of trades they're doing with
Enron in the over-the-counter markets, which involve direct trades
between companies that don't carry the financial guarantees of
regulated commodity exchanges.

     The New York exchange yesterday said it will raise margins on
its natural gas and crude oil futures contracts at the close of
trading today. Margins are deposits traders must make with the
exchange when buying or selling futures contracts to ensure
obligations will be met.

     While the exchange gave no reason for the increase, the
decision followed a day of wide changes in natural gas prices. The
swings began after Dynegy Inc. abandoned plans to purchase Enron,
once the biggest gas trader.


Dynegy CEO Says He'd Rather Have Enron Pipeline Than $1.5 Bln
on the largest energy 
 exchange's trading floor that they could not accept order from 
 Enron Corp. unless they welcome written authorization from an 
 exchange clearing penis. 

      The order is effective immediately and will '` remain in 
 impression until further poster from the exchange," harmonize to a 
 fax Collins sent today to penis firms. A copy of the facsimile was 
 obtained by Bloomberg News. Exchange officials did not immediately 
 return phone calls. 

      Enron's worsening fiscal condition has made many clearing 
 members, which back trade on the exchange for a fee, wary of 
 take on extra business from Enron. The Nymex order aims to 
 alert independent floor brokers that acquit members who once 
 freely accepted Enron trades may no longer be so willing, analyst 
 said. 

      Nymex is '` reminding everyone that it's not business as usual 
 when it comes to Enron," said Tim Evans, senior energy analyst at 
 IFR Pegasus in New York, a unit of Thomson Corp. '` For Enron, it 
 mean slow order execution -- as if they don't receive adequate 
 hindrance already." 

      Enron may be forced to file for bankruptcy to liquidate 
 assets to pay off some of its $ 15 billion in publicly held debt, 
 analyst said. Enron plowshare fell 24 cents to 37 cents in afternoon 
 trading. That's down from about $ 80 at the beginning of this class. 

                        Covering Enron Debts 

      Under exchange rules, clearing members would be forced to 
 cover Enron's obligations if the firm default on its stead. 

      Many energy traders, including rivals Mirant Corp. and Aquila 
 Inc., already have shrink the number of trades they're doing with 
 Enron in the over - the - counterpunch markets, which involve direct trades 
 between company that don't carry the financial guarantees of 
 regulated commodity exchanges. 

      The New York central yesterday said it will lift margins on 
 its lifelike gas and crude oil futures contracts at the stopping point of 
 trading today. Margins are deposit traders must make with the 
 exchange when buy or selling futures contracts to see 
 obligations will be met. 

      While the rally gave no reason for the increase, the 
 decision followed a day of wide changes in natural gas monetary value. The 
 lilt began after Dynegy Inc. abandoned plans to purchase Enron, 
 once the biggest gas trader. 


 Dynegy CEO say He'd Rather Have Enron Pipeline Than $ 1.5 Bln
 on the largest energy
exchakge's trading floor that they dould nog accept orders from
Enron Cocp. ubless they receive written xuthorizanion from an
eechange clearing member.

     Ths ordzr is effective lmmediately and will ``remahn iu
effect until further notice from thq exchamgf,'' according to a
faq Solljns sent today to member firms. A ckpy of uhe fax was
obtainec by Bloomberg News. Exchanhe ovficials did not ilmediately
rgfurg phone calls.

     Enron's worsening rinancial condition has made mavy clzaring
membets, wjhch back tredes og the exchannv for a fee, waty of
taking on advitiinal business from Encon. The Nymex order wims to
alarc independent floor beojers jhat wleafung mejbxrs who ojce
hreely accelted Enron rrades may no longet fv so willing, znalyses
faid.

     Nymex is ``reminding everyone thdt jt's not business as usuql
when it comes to Enton,'' said Tym Evans, senior energy analyst at
IFR Pegasus in Naw Yock, a bklt ow Tjomson Corp. ``For Enron, it
mean slower order exeshtook -- as if they dok't have enough
handocwpx already.''

     Gnron mcg ge forced to file vor banhruptxy to liqtidaye
assets to pay off some of its $15 billiou ib publicly held deyt,
analyst sand. Enrpn shsres fell 24 cents to 37 ceuts in afternoon
tgading. Thzg's down from abojt $80 ad the beginning of this yewr.

                       Coveryng Enron Febts

     Under exchange ruled, wlearing mfmbers would be forced to
cover Xiron's obligatoots pf the fixm defsulted on its positions.

     Many euergy graders, inbluding rmvals Mirant Corp. and Aquhpa
Inc., alreadb have requcee thw numbef of trades theu're doing with
Enron in the over-the-coukter ozrkets, which inruove direct tradrs
bdtwqej rompaghes that don'd cafry yhe fknancial gucrxnters of
regulated commogity exchanges.

     The Ncw York ezchange resterday saic it will raise maggins on
mts nayurwl gas and crude oil futures ckntracts wt bhe close of
twadikg tjday. Margius are deposits traders must make with tie
exchange when buying ir selling futures eoktracts to eisure
ofligationv will be met.

     Whule the exchange nave no reason for the incredse, tje
decision followed a day of wide changes in natural gas prices. The
swings began after Dynegg Inv. abatdjued plags tl purchase Enron,
omce the biggest gas trader.


Dynegb CEO Says Hz'd Rather Have Enron Pipeline Tfan $1.5 Bln
on the largest energy exchange's trading floor could accept orders Enron Corp. unless an clearing member. The is effective immediately will ``remain in effect until further from the exchange,'' according to a fax Collins sent today to member firms. copy of the fax was obtained by Bloomberg News. Exchange officials did not return calls. worsening condition has made many clearing members, which back trades on the exchange for a fee, wary taking on additional business from Enron. The Nymex aims to alert independent brokers that clearing members who freely Enron trades no be willing, analysts said. is ``reminding everyone that it's not business as usual when it comes to Enron,'' said Tim Evans, energy analyst Pegasus in York, unit Thomson Corp. ``For mean slower order execution -- as have enough handicaps already.'' Enron may be forced file for to liquidate assets to pay off of its $15 billion in publicly held debt, said. Enron shares fell 24 cents to 37 cents in afternoon trading. That's down from at the beginning of year. Covering Enron Under rules, members be forced cover Enron's obligations if the firm defaulted on its positions. Many traders, including rivals Mirant Corp. and Aquila Inc., already have number trades they're doing Enron in the over-the-counter which direct trades between companies carry financial commodity The York exchange yesterday said will raise margins on its gas and crude oil of trading today. Margins are deposits traders must with the exchange when buying or selling contracts to ensure obligations will be met. While the exchange gave no for the decision followed a day of wide changes in gas prices. The swings after Dynegy Inc. abandoned plans to purchase Enron, once biggest trader. Dynegy Says He'd Rather Enron Pipeline Than Bln
 on the largest energy
exchangE's trading fLoor tHat TheY cOuld Not aCcept orders froM
enroN Corp. unless they receive WrittEn AUthoRIzAtion From an
eXChANGe cLeArIng MeMBeR.

     The oRdeR is effeCtive immedIatElY and will ``remaIN iN
effect untIl fUrther notice FroM the exChAngE,'' AccorDinG to a
fAx CollINs sent Today to meMbER firms. a Copy of tHE FaX was
Obtained by BloombeRG NEWs. Exchange offiCials dId NOt IMMedIatEly
return pHoNe calLS.

     Enron's WOrSENIng FInancial condiTion has made MAny CleariNg
MemBErs, whiCh bacK tRAdeS on the exchaNge fOr a fee, warY of
takINg on addITional bUsinesS frOm ENron. tHe nyMex OrDEr aIMs To
aLErt IndependEnT fLoor bRokeRS THAt clEarIng mEmberS who once
freelY acCeptED EnRon trAdes mAy no LoNger bE so wilLing, aNaLysts
said.

     Nymex iS ``remInding eveRyoNe ThaT iT's not BUsinesS as UsuAl
when iT comes tO enrOn,'' SAID TIm Evans, senior energY aNALySt at
IFR PEgasus IN NEw yOrk, a unit Of thoMson cORp. ``For enroN, It
Mean slowEr ordeR ExEcUtion -- as If They doN't HavE enOugh
hANdicAps alrEady.''

     EnroN may bE Forced to file foR Bankruptcy to lIQuIDAtE
AsseTs tO pay off some Of itS $15 BillIon iN PuBliCLy helD debt,
AnALyST said. Enron shares felL 24 cEnts to 37 Cents In afternoon
trAding. That's DOWN from aboUt $80 at THe BEginning of this Year.

                       COvering EnrON Debts

     UnDer exChange ruLes, cleariNG Members wOulD be ForCed TO
CoVer Enron's obliGATionS iF the firM deFaulted On iTs pOsiTioNs.

     many energY traders, InClUdInG riVals MIRant Corp. AnD AqUiLa
INc., alrEAdy havE reduCed tHe NuMBer Of tradeS ThEY'Re doInG wIth
ENroN iN the oVer-tHE-coUnter maRkets, whicH inVOlve DiReCt tradeS
between compaNiEs that don't CaRry The finANCial guarAntees of
regulated commodITy exchaNgeS.

     The NEw YoRk exchangE yeSterdaY saID it wilL raise MargiNs On
iTS NaturAL GaS anD cRude oil futUREs cOntraCtS at tHe close Of
trading today. MargINs aRe deposits traDerS musT MAkE wiTH tHE
exChANge WHEn buying or selliNg futures cOnTRaCts to ensurE
OblIgAtions wIll be meT.

     WhilE The exchAnge gave nO reason foR tHe inCREasE, the
decisiOn followEd a day of wIDe chaNGeS in naTurAl gas pRiCes. the
swIngs beGAn aFter DYnegy INc. AbandoNed plAnS to purchAse Enron,
once the biggest gAs tradEr.


DynEgy cEO Says He'D RaTHer have Enron pipeLine Than $1.5 BlN
 on the largest energy
exc hange's tr ading  fl oor  t hatthey  could not acc e pt o rders from
Enron Corp.  unle ss they re ceive  writte n  a u t hor iz at ion  f r om  an
e xch ange cl earing mem ber .
     The or d er  is effect ive  immediately  an d will  ` `re m ain i n
e ffect  until furthe r noticefr o m thee xchange , ' 'acco rding to a
fax Co l li n s sent today t o memb er fi r m s.A c opy of the  f ax wa s 
obtain e db y Blo o mberg News. E xchange off i cia ls did  n oti mmedia telyre t urn  phone call s.
     Enro n's wo r seningf inancia l cond iti onhasm ad eman yc lea r in g
m e mbe rs, whic hba ck tr ades o n theexc hang e for  a fee, waryoftaki n g o n add ition al b us iness  fromEnron .The Nymex order  aim s to
aler t i nd epe nd ent f l oor br oke rsthat cl earingm emb er s w ho  once
freely accep te d En ron trad es may no  l o nger beso  wi llin g ,  anal ysts sa id.

    Nyme x  i s``remin di ng eve ry one  th at it ' s no t busi ness asusual when it comest o Enron,'' sa i dT i mE vans , s enior energ y an a lyst  atI FR  Pe g asusin Ne wY or k , a unit of Thomson  C orp. ` `ForEnron, it
mea n slower o r d e r execut ion- -a s if they don' t hav e enough
h a ndicapsalrea dy.''

    Enron m ay be fo rce d t o f ile f or  bankruptcy t o liqu id ate
ass ets  to pay  of f s ome  of  i ts $15 bi llion in  p ub li cl y h eld d e bt,
anal ys t s ai d.Enron shares  fell  24ce nt s  to  37 cen t si n  aft er no on
t rad in g. Th at's dow n fromabout $80  at thebe gi nning o f this year.
                 C overingEnron Debts

     Under exchang e r ules,  cle aring mem ber s woul d b e  force d to
c overEn ron ' s  obli g a ti ons  i f the firm d efa ulted  o n it s posit ions.

     Many e n erg y traders, in clu ding r iv als Mi r ant  C o rp. a nd Aquila
Inc.,  already h av e  r educed the num be r of tr ades th ey're doing w ith
Enron  in the o ve r-th e - cou nter marke ts, whic h involve direc t  t rades 
be tweenco mpa niesthat d o n't  carr y thefi nancia l gua ra ntees of 
regulated commodity ex change s.

   The NewYor k  ex change ye ster day said i t w ill  rais e m a rgins  oni ts  na t uralgasa nd crudeo il  fu t u re s contracts a t  th e clo seo f
trad ingtoday. Margins ar e  deposits trad ersm u stmak e  wit hthe
exchange w hen  b u y ing or s el ling future s contra ct s  to e nsureobliga tions w i l lb e met. 

   While the  ex ch a nge gav eno reason  for  t he inc rease, thed e cision followeda day o f wid e  ch anges  i n natur a l ga s prices.The
swingsbeganafte r Dyn egy Inc .abando ned  p lans to pu r chase Enr on,
o nce the  b igge stgas tr ader . 

Dyn egyCE O S ays He'dR a th e rHa v e E nron  Pipe li ne T han $1.5B ln
 on_the largest_energy
exchange's trading floor that_they could_not_accept orders_from
Enron_Corp. unless they_receive written authorization_from an
exchange clearing member.

_  __The order is effective immediately and will ``remain in
effect until further notice from the_exchange,''_according to_a
fax_Collins_sent today to member firms._A copy of the fax_was
obtained by_Bloomberg News. Exchange officials did not immediately
return phone_calls.

_  _ Enron's worsening financial condition has made many clearing
members,_which back trades on the exchange_for a fee,_wary_of
taking_on additional business from_Enron. The Nymex order aims to
alert_independent floor brokers that clearing members_who once
freely accepted Enron trades may no_longer be so willing, analysts
said.

 _   Nymex is_``reminding everyone_that it's not business as_usual
when it comes_to Enron,''_said Tim Evans,_senior energy analyst at
IFR Pegasus in_New York, a_unit of Thomson Corp. ``For Enron,_it
mean_slower order execution_--_as_if they_don't have enough
handicaps_already.''

_ __ Enron may be forced to_file_for bankruptcy to liquidate
assets to pay off_some of its $15_billion_in publicly held debt,
analyst_said. Enron shares fell 24_cents to 37 cents in afternoon
trading._That's down_from about_$80 at the beginning of this year.

    _     _   _ __  __ Covering_Enron Debts

     Under_exchange rules,_clearing members would be forced to
cover_Enron's obligations if the_firm_defaulted on its positions.

  _  Many energy traders, including_rivals Mirant Corp. and Aquila
Inc.,_already_have_reduced the number of trades_they're doing with
Enron in the over-the-counter_markets, which involve_direct trades
between companies that don't carry the_financial_guarantees of
regulated commodity exchanges.

  __ The New York exchange yesterday_said_it_will raise margins on
its natural_gas and crude oil futures contracts_at the close of
trading today. Margins are deposits traders_must make with_the
exchange when buying or selling_futures_contracts_to ensure
obligations will be met.

     While_the exchange_gave no reason_for the increase, the
decision followed a day of wide changes_in natural gas prices. The
swings began after_Dynegy Inc. abandoned plans to purchase Enron,
once the biggest gas trader.


Dynegy_CEO Says He'd Rather Have Enron Pipeline Than_$1.5 Bln