David:

Mark is out until next Monday.

If this needs immediate attention, I'm sure Tana will forward to the 
appropriate person in Mark's group. I am copying Tana for this purpose.

Alan



	David Minns@ENRON_DEVELOPMENT
	03/21/2001 11:20 PM
		 
		 To: Mark Taylor
		 cc: Alan Aronowitz
		 Subject: New Product Type Awaiting Approval

Mark just as background to Justin's email who coordinates EOL down here. This 
is just another Australian power derivative. It will be covered by our 
existing Australian power GTC in the unlikely event there is no  ISDA master 
agreement with the  counterparty. Essentially it is an inter-regional swap 
(in the form of 2 transactions) with the fixed prices calculated by reference 
to the spread between the bid and offer. I have reviewed and approved the 
product description that closely follows the form of a similar US 
product.      
---------------------- Forwarded by David Minns/ENRON_DEVELOPMENT on 
22/03/2001 04:11 PM ---------------------------


Justin Timothy
22/03/2001 03:57 PM
To: Tom Moran/Enron@EnronXGate, Paul 
Smith/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mark Taylor@ECT, Bjorn 
Hagelmann/Enron@EnronXGate, Jeff Blumenthal/Enron@EnronXGate, Matthew F 
Gockerman/Enron@EnronXGate, Susan Musch/Enron@EnronXGate
cc: Kevin Meredith/Corp/Enron@ENRON, David 
Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT 

Subject: New Product Type Awaiting Approval

Good morning,

Just a heads up to let you know that there is a new product type awaiting 
your approval (currently "Partially Approved") in EnronOnline Datamanager. It 
is an Australian power financial spread product (#2001) and will be an 
inter-regional spread using the existing financial power swap products i.e. 
VIC, SA, NSW & QLD peak & flat products as the underlying contracts.

Our senior legal counsel in the Sydney office, David Minns, has indicated 
that the existing GTC for Australian power products (see attached) can also 
be used for this new product type.

I would appreciate it if you could review this as soon as possible. Please 
let me know if you require anything further.

Note, a sigma factor (4.07) has been assigned by RAC which will be amended 
after the product type has been approved.

Regards,

Justin Timothy
PCG - Sydney