Tom is the man, ditto for me!



	Stephanie Sever
	02/26/2001 05:50 PM
		 
		 To: Tom Moran/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Karen 
Lambert/HOU/ECT@ECT, Kelly Lombardi/NA/Enron@Enron
		 cc: Robert B Cass/HOU/ECT@ECT, Melba Lozano/HOU/ECT@ECT, Chris 
Walker/HOU/ECT@ECT, Kevin Meredith/Corp/Enron@ENRON, Lisa Lees/HOU/ECT@ECT
		 Subject: New Product Type (US Gas Financial Spread)

New Product Type (US ResiOil Swap)

Tana/Karen:

The product long description below will fall under the new product type US 
Gas Fin Spread.  Credit (Tom Moran) has approved copying the profiles for the 
new product type from the following:

US Gas Fin Swap

Please respond by 3p.m. on Tuesday, February 27.

Thank you.
Stephanie
---------------------- Forwarded by Stephanie Sever/HOU/ECT on 02/26/2001 
05:41 PM ---------------------------
   
	Enron North America Corp.
	
	From:  Kevin Meredith @ ENRON                           02/21/2001 03:46 PM
	

To: Matthew Adams/Corp/Enron@ENRON
cc: Lisa Lees/HOU/ECT@ECT, Stephanie Sever/HOU/ECT@ECT, Tara 
Sweitzer/HOU/ECT@ECT, Dawn C Kenne/HOU/ECT@ECT, Torrey Moorer/HOU/ECT@ECT, 
Matthew F Gockerman/HOU/ECT@ECT, Robert B Cass/HOU/ECT@ECT, Melba 
Lozano/HOU/ECT@ECT, Chris Walker/HOU/ECT@ECT 
Subject: Need a Sigma Factor - US Gas Financial Spread

Please provide a Sigma Factor for the following product.

Thanks.

US Gas Fin Spread Nymex Spread Mar-Apr01 USD/MM


A financial Spread Transaction with Enron North America Corp. which will 
generate a Transaction on each of two Products, under which either (A) for 
the case in which Counterparty submits an offer to buy from Enron, 
Counterparty shall buy the First Product and sell the Second Product, each in 
respect of the Notional Quantity per Determination Period; or (B) for the 
case in which Counterparty submits an offer to sell to Enron, Counterparty 
shall sell the First Product and buy the Second Product, each in respect of 
the Notional Quantity per Determination Period. The fixed price for the First 
Product will be the midpoint of its bid and offer price at the time of the 
Transaction. The fixed price for the Second Product will be the midpoint of 
the bid/offer of the First Product, modified by the price submitted by the 
Counterparty on the Website. The Notional Quantity per Determination Period 
for the Transactions on both the First Product and the Second Product is the 
volume submitted by the Counterparty via the Website. The Payment Date for 
each transaction will be 5 business days after the relevant Floating Price is 
determinable.  The Floating Price for each Transaction shall be the average 
of the Index for each day in the relevant Determination Period.
For the purposes of this Transaction, the Determination Period for the First 
Product shall correspond to the first date which appears above. The 
Determination Period for the Second Product shall correspond to the second 
date which appears above.
The Index for each transaction shall be the settlement price for the last 
scheduled Trading Day of the NYMEX Henry Hub Natural Gas Futures Contract for 
the applicable Determination Period.
The price is quoted in US Dollars per unit of volume, which will be the 
Contractual Currency.
The unit of measure against which the volume is shown shall be 10,000 MMBtu's 
per day.