The problem with using something other than a quantitative measure (like 
percentage) is that we quickly get into something to argue about with the 
customer.

Some alternatives off the top of my head to get the ball rolling:

- Gross Error determined by independent arbitrator or possibly an appointed 
third party (auditor?)
- Transaction which differs by more than x% from verified other transactions 
between independent companies during the same period (not just quotations).
- Transaction which does not lie within the boundaries of other transactions 
between independent companies which occurred on that day.
- Transaction which does not lie within the bid-offer hi and lo range 
identified by industry price reports published for that day. (obvious 
limitations here)

Dave




Louise Kitchen@ECT
08/22/2000 02:35 PM
To: Andy Zipper/Corp/Enron@ENRON
cc: David Forster/Corp/Enron@Enron, Mark Taylor/HOU/ECT@ECT 

Subject: Re: Gross Error language  

Is there not something better than a percentage?  Noticce the lack of a 
better answer from me.



Andy Zipper@ENRON
22/08/2000 11:44
To: David Forster/Corp/Enron@Enron, Louise Kitchen/HOU/ECT@ECT, Mark 
Taylor/HOU/ECT@ECT
cc:  

Subject: Re: Gross Error language  

I think 5% is way too small. At certin physical locations for both gas and 
power, a 5% move is easily achievable in the normal course of business i.e. 
35 mwh power to 45mwh or Transco Z6 from 5.00 to 5.50 in the next trade. I 
think something in the neighborhood of 20% to 25% is
commercially reasonable.