Scott: Please see below.

1.  How much would this pricing change if power could be called ion 4 hour 
blocks and the availability percentages were 97%?
       - 4 hour block call: There is a possibility to get better pricing.
 - 97% availability: Structuring wants to make sure that there is no 
regulatory limitation in related to environmental issue, which may prevent 
97% availability.

2.  What pricing does the 20 year project model show that we need?
 - We also need power curve from year 3 to 20 to calculate Calpine's merchant 
revenue.
 - We are currently refining the model regarding IDC, residual value, etc.

3.  What additional information do you need from me to complete your analysis?
 - Unit contingency or liquidated damage protection
 - Exact location for power and gas

Once we find out unit contingency and location, I will get the pricing with a 
couple of scenarios as you asked: 
 - Flat and annual capacity for 3 and 5 year
 - Power curve from year 3 to 20

Jinsung



   
	
	
	From:  Scott Healy @ ECT                           02/28/2000 07:53 AM
	

To: Jinsung Myung/Corp/Enron@ENRON
cc: Mike J Miller/HOU/ECT@ECT 

Subject: Re: Calpine Indicative Pricing  


1.  How much would this pricing change if power could be called ion 4 hour 
blocks and the availability percentages were 97%?

2.  What pricing does the 20 year project model show that we need?

3.  What additional information do you need from me to complete your analysis?