Rob,

This descripton looks OK except for the actual product for December is a HDD 
not a CDD contract.

Thanks,
Michael




Robert B Cass
12/05/2000 05:30 PM
To: Michael Nguyen/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT
cc: Kevin Meredith/Corp/Enron@ENRON, Melba Lozano/HOU/ECT@ECT 
Subject: Re: Weather Products  

Hi Michael and Mark -

Please revisit the Hong Kong test product (for CDD) as shown below.   Please 
note that it is based on the Melbourne/Sydney format:

A US Weather (Cooling Degree Day) Financial Swap Transaction with Enron North 
America Corp., under which the Seller is obliged to pay the Payment Amount to 
the Buyer where the Floating Amount is above the Strike Amount, or where the 
Buyer is obliged to pay the Payment Amount to the Seller where the Floating 
Amount is below the Strike Amount.  The Strike Amount is the amount in 
Cooling Degree Days submitted in the "price" field by Counterparty via the 
website. The Notional Amount is the product of the quantity submitted by 
Counterparty via the website and the Pay Unit. The Payment Amount is the 
product of (i) the Notional Amount and (ii) the absolute value of the 
difference between the Floating Amount and the Strike Amount.

The Calculation Period is from and including the Effective Date of 01 Dec 
2001 to and including the Termination Date of 31 Dec 2000.

The Calculation Period shall commence at 12:01am on the Effective Date and 
conclude at 12:00am on the Termination Date at the relevant Reference Weather 
Station or Fallback Reference Weather Station.  The Reference Weather Station 
is Hong Kong Observatory, WMO Station Number 45005.  The Fallback Reference 
Weather Station is King's Park, WMO Station Number 45004.  Reporting Service, 
Reporting Agency and Data Source all mean the Hong Kong Observatory 134A 
Nathan Road, Kowloon, Hong Kong or its successor organization. 

The price is quoted in US Dollars per unit of volume, which will be the 
Contractual Currency.

CDD shall mean Cooling Degree Day.
The Reference Basis is 18 Degrees Celsius.
The Pay Unit is 50 USD.
The Maximum Payout Limit is 5000 USD, multiplied by the quantity submitted by 
the Counterparty via the website.










Michael Nguyen
12/05/2000 04:43 PM
To: Kevin Meredith/Corp/Enron@ENRON
cc: Robert B Cass/HOU/ECT@ECT 
Subject: Re: Weather Products  

Kevin, 

The following product descriptions for Hong Kong are incorrect.  Could you 
please contact Rob, as he has created products for me using Australian cities 
as a template.  

Thanks,
Michael


   
	Enron North America Corp.
	
	From:  Kevin Meredith @ ENRON                           12/04/2000 05:10 PM
	

To: Michael Nguyen/HOU/ECT@ECT, Mark A Taylor/EFS/EES@EES
cc: Robert B Cass/HOU/ECT@ECT, Melba Lozano/HOU/ECT@ECT 
Subject: Weather Products

The following products have been created in Test.  Please review and advise.

US Wthr CDD Swap HNG KNG 100/20K         Jun01           USD/CDD
A US Weather (Cooling Degree Day) Financial Swap Transaction with Enron North 
America Corp., under which the Seller is obliged to pay the Payment Amount to 
the Buyer where the Floating Amount is above the Strike Amount, or where the 
Buyer is obliged to pay the Payment Amount to the Seller where the Floating 
Amount is below the Strike Amount.  The Strike Amount is the amount in 
Cooling Degree Days submitted in the "price" field by Counterparty via the 
website. The Notional Amount is the product of the quantity submitted by 
Counterparty via the website and the Pay Unit. The Payment Amount is the 
product of (i) the Notional Amount and (ii) the absolute value of the 
difference between the Floating Amount and the Strike Amount.
The Calculation Period is from and including the Effective Date of 01 Jun 
2001 to and including the Termination Date of 30 Jun 2001.
The Calculation Period shall commence at 12:01am on the Effective Date and 
conclude at 12:00am on the Termination Date at the relevant Reference Weather 
Station or Fallback Reference Weather Station.  The Reference Weather Station 
is Hong Kong Observatory, WMO Station Number 45005.  The Fallback Reference 
Weather Station is King's Park, WMO Station Number 45004.  Reporting Service, 
Reporting Agency and Data Source all mean the Hong Kong Observatory 134A 
Nathan Road, Kowloon, Hong Kong or its successor organisation.  Reference 
Time means 12.01 AM LST.
The price is quoted in US Dollars per unit of volume, which will be the 
Contractual Currency.
CDD shall mean Cooling Degree Day.
The Reference Basis is 65 Degrees Fahrenheit and the Reference Degrees are in 
Fahrenheit.
The Pay Unit shall be 100USD.
The Maximum Payout Limit shall be 20000USD, multiplied by the quantity 
submitted by the Counterparty via EnronOnline.

US Wthr HDD Swap HNG KNG 100/20K         Jan01           USD/HDD
A US Weather (Heating Degree Day) Financial Swap Transaction with Enron North 
America Corp., under which the Seller is obliged to pay the Payment Amount to 
the Buyer where the Floating Amount is above the Strike Amount, or where the 
Buyer is obliged to pay the Payment Amount to the Seller where the Floating 
Amount is below the Strike Amount.  The Notional Amount is the product of the 
quantity submitted by Counterparty via the website and the Pay Unit. The 
Strike Amount is the amount in Heating Degree Days submitted in the "price" 
field by Counterparty via the website. The Payment Amount is the product of 
(i) the Notional Amount and (ii) the absolute value of the difference between 
the Floating Amount and the Strike Amount.
The Calculation Period is from and including the Effective Date of 01 Jan 
2001 to and including the Termination Date of 31 Jan 2001.
The Calculation Period shall commence at 12:01am on the Effective Date and 
conclude at 12:00am on the Termination Date at the relevant Reference Weather 
Station or Fallback Reference Weather Station.  The Reference Weather Station 
is Hong Kong Observatory, WMO Station Number 45005.  The Fallback Reference 
Weather Station is King's Park, WMO Station Number 45004.  Reporting Service, 
Reporting Agency and Data Source all mean the Hong Kong Observatory 134A 
Nathan Road, Kowloon, Hong Kong or its successor organisation.  Reference 
Time means 12.01 AM LST.
The price is quoted in US Dollars per unit of volume, which will be the 
Contractual Currency.
HDD shall mean Heating Degree Day.
The Reference Basis is 65 Degrees Fahrenheit and the Reference Degrees are in 
Fahrenheit.
The Pay Unit shall be 100USD.
The Maximum Payout Limit shall be 20000USD, multiplied by the quantity 
submitted by the Counterparty via EnronOnline.