Dear Chris,

  This e-mail is to explain my research on the following: 

	1
   The ST_California desk's negative $903,422.49 DPR Impact for deal # 501520.1 on 1/21/01 - after speaking with Mark Confer in Houston, it seems that per the request of EES, we have made changes to this deal.  January 21, 2001 was a Sunday.  During that week in January, on-peak prices were at $321 and off peak prices were at $212. 

When deal # 501520 was originally entered, it was entered as such:

HE	MW	Price	
HE 1	471.25	 $  212.00 	
HE 2	461.75	 $  212.00 	
HE 3	456.9	 $  212.00 	
HE 4	455.03	 $  212.00 	
HE 5	457.48	 $  212.00 	
HE 6	469.6	 $  212.00 	
HE 7	488.07	 $  321.00 	
HE 8	496.05	 $  321.00 	
HE 9	510.37	 $  321.00 	
HE 10	508.1	 $  321.00 	
HE 11	518.5	 $  321.00 	
HE 12	522.58	 $  321.00 	
HE 13	525.54	 $  321.00 	
HE 14	525.82	 $  321.00 	
HE 15	525.58	 $  321.00 	
HE 16	525.52	 $  321.00 	
HE 17	524.95	 $  321.00 	
HE 18	525.73	 $  321.00 	
HE 19	525.74	 $  321.00 	
HE 20	526.73	 $  321.00 	
HE 21	525.04	 $  321.00 	
HE 22	513.96	 $  321.00 	
HE 23	501.07	 $  212.00 	
HE 24	486.22	 $  212.00 	

The bolded MW's at on-peak hours should have been entered at the Sunday off-peak price of $212, not $321, hence $212 all day.
The $321 price on the 8288.28 MW from HE 7 to HE 22 were "corrected" on 2-7-01 and the correct price of $212 was entered instead.

8288.28 MW x $109.00 price difference = $903,422.52 difference.


		2
The ST_California desk's negative $286,316.24 DPR Impact for deal # 508956.1 on 1/31/01: looks like cuts were made to the schedule.  Kate Symes is researching this with me.  It cuts are what happened, then the DPR impact should go back to zero when we find out what the other side of the deal is and we cut it too.

I've spoken to Jeff Richter about both of these deals.  He understands that the $903,422 impact is a true impact and will not be reversed.

Please contact me with any questions you may have.

Virginia