where is this coming from? are counterparties asking to be paid throughout the month? or is this coming from our side?

 -----Original Message-----
From: 	Shackleton, Sara  
Sent:	Thursday, November 15, 2001 1:27 PM
To:	Sacks, Edward; Radous, Paul; Rohauer, Tanya
Subject:	Payment Date for financial power transactions

All:

I am trying to resolve a recurring issue in the financial power group.

In the past, we have withheld payment for all swaps with the same counterparty terminating during a calendar month until the fifth Business Day after the floating price is determinable at the end of a month.  As a practical matter, calculation of the payment of an aggregate of daily transactions would conceivably wait until the last Business Day of the month when a floating price was needed for one or more of the swaps.

How do you feel about payment for multiple trades with a party having varying termination dates throughout a given month?  Is this a cash flow issue?  Do I need to involve someone from Treasury or Settlements?

Please let me know.  Thanks.

Sara Shackleton
Enron Wholesale Services
1400 Smith Street, EB3801a
Houston, TX  77002
Ph:  (713) 853-5620
Fax: (713) 646-3490