Tom,

I believe that your right up correctly interprets the current model, but as 
we discussed, I think the more correct methodology is to use the next day's 
cash price since the Gas Daily print is for gas traded the previous day and 
delivered the same day as the print.  If I'm trading day gas on April 7th, 
the prices I'm basing my decisions on are those represented in the Gas Daily 
print for April 8th.  If we do not change the model, I think we need another 
sentence to clarify that the cash prices a day behind.  Of course, eventually 
we need to fix the model.

Mat

  
 




Tom Halliburton
02/02/2001 08:25 AM
To: Matt Smith/NA/Enron@ENRON
cc:  

Subject: Interpreting Curves Data

Matt,
Here's a one page document showing how I have interpreted the curves data.  
If you would like any changes, please mark up / edit and I'll make the 
changes today.


Tom