Today, Gillian and I met with Murray O'Neil, Victor Gonzalez, Tom Blanks, Jason Woodward and Erin Stus about billing/systems issues with the MD Index product.  They are willing to support the MD index product in its current hourly-pricing design.  So, we can continue to assume a pass-through of hourly PJM BGE prices and all associated ancillaries, losses, and other uplifts (with physical delivery 7/1/02), with the only fixed component being deal costs (including a scheduling fee) and margin.

One issue that came up is how much of the hourly PJM data is already being tracked...so duplication of systems can be prevented.  Do you know of any particular PJM databases that already exist, that would be used to develop the PJM BGE index?

The draft Product Approval Template (copy attached) is still on target, so please let me know if you have any changes.  If not, we will soon broaden the reviewers and see if we can get approval signatures.   

Thanks!
Bob