John

The questions that Gas Daily is receiving most likely pertain to the issue 
that Nicor was closed on Friday but the weekend index published substantially 
different from the Thursday index.  We did not transact at Nicor City Gate on 
Friday and did not submit a change in trades to Gas Daily.  I will discuss 
this with you tomorrow. 

---------------------- Forwarded by Hunter S Shively/HOU/ECT on 01/09/2001 
06:26 PM ---------------------------


Patrice L Mims
01/09/2001 05:10 PM
To: Hunter S Shively/HOU/ECT@ECT
cc: Patrice L Mims/HOU/ECT@ECT 
Subject: Chicago Midpoint pricing for December 21, 22, and 23, 2000




On December 21, 2000,  I reported a weighted average price of $16.00 for gas 
flow on  December 22-26, 2000.

The weighted average trade price via Enron Online will reflect a price of 
$15.76.   This price was increased to $16.00 to encompass trades transacted 
via the telephone. 

The reason for the interest in this time period is as follows:

Nicor Gas Company was closed for  their company holiday on Friday, December 
22nd.  As a result, volumes delivered at Nicor were traded for  the December 
22-26 time period.  Gas Daily published a price of $15.70 for the December 
22-26 time period.  Nicor Gas Company made a decision to buy gas on December 
22nd (even though they were closed)  for the December 23-26 time period, 
which resulted in a $13.88 posting for the December 23-26th period.  I 
received several phone calls from various marketing companies expressing 
concern that Gas Daily was going to revise the posting, based on the minimal 
activity that transacted on December 22nd.  

My practice is to take the price as reported on Enron Online.  On occasions 
there will be significant volumes transacted over the telephone that will 
impact the Enron Online price.  Due to timeliness of sending the price 
report, my volume is overstated, as opposed to intentionally reporting 
erroneous information.