Scott,

Attached is the pricing from Structuring. At this stage, the desk does not 
have a different price for the 4hr block product. Jinsung

---------------------- Forwarded by Jinsung Myung/Corp/Enron on 03/02/2000 
09:07 AM ---------------------------
   
	
	
	From:  Garrett Tripp @ ECT                           03/02/2000 08:53 AM
	

To: Jinsung Myung/Corp/Enron@Enron
cc:  

Subject: REsend Calpine

Calpine Pricing

Jinsung,

Below are the indicative prices for the Calpine deal assuming there are no 
additional gas costs related to 
the transport of gas from the Transco Sayreville meter point and the 
potential site.

We have passed this by the trader, Paul Racicot.  If we enter the next round 
of negotiations where specific information
has become available, a stronger price is possible but we would need to deal 
more specifically with the Unit Contingent
aspect and the gas cost from meter to site.

Here is the assumptions and the prices:

180MW
Priced at Sayreville (discount to  Eastern hub)
Must be called in 16 blocks
5x16 product
Total start cost: $1200 per start ($300 per unit)
No escalation in VOM
95% availability in winter, 97% in summer
Gas priced at NY zone 6 with $0.03 physical premium in summer, and $0.07 in 
WINTER.