Dale:

Please see my revisions to the PJM Index below.  

The Floating Price during a Determination Period shall be the average of the 
hourly prices listed in the Index (in final, not estimate, form) for 
electricity delivered during Peak hours on each Delivery Day during the 
applicable Determination Period.  The Floating Price for each Determination 
Period shall be calculated utilizing the hourly clearing prices published by 
PJM Interconnection, LLC on its official web site currently located at 
http://www.pjm.com/pub/account/lmp/index.html 
ftp://www.pjm.com/pub/account/lmp/index.html, or any successor thereto, under 
the headings "PJM - Locational Marginal Pricing Files; Western Hub"  (the 
"Index").

Please note that we need to change the Pwr Fin Swap description to revise the 
payment terms.  Sara and I have met and discussed this issue with the 
relevant folks in great detail and determined that the current language is 
not reflected in reality.  We also need to change the index definition for 
the ISO NE index to delete the reference to "in final, not estimate, form".  
Attached please find the revised long product descriptions for both ISO NE 
and the NYISO.  

Call me in the morning to discuss.  I have a meeting at 10, so try me before 
that time if you get a chance.

Leslie






	Dale Neuner
	06/14/2000 08:24 AM
		
		 To: Leslie Hansen/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT, Eric 
Saibi/Corp/Enron@ENRON
		 cc: Kenny Ha/HOU/ECT@ECT, Jennifer deBoisblanc Denny/HOU/ECT@ECT, Torrey 
Moorer/HOU/ECT@ECT, Tara Sweitzer/HOU/ECT@ECT
		 Subject: Re: PJM Prices US East Power Swap


Legal/Commercial:

Here is my suggestion for the PJM Index. I will use a PJM Peak Loadshape that 
mirrors the ISO NE and ISO NY Loadshape.


Kenny; et al:

Please map in TEST and PROD

Index:  PJM Interconnection
Abb:  PJM InterC
Sort Code: 
Desc:  The Floating Price during a Determination Period shall be the average 
of the hourly prices listed in the Index (in final, not estimate, form) for 
electricity delivered during Peak hours on each Delivery Day during the 
applicable Determination Period.  The Floating Price for each Determination 
Period shall be calculated utilizing the hourly clearing prices published by 
PJM Interconnection, LLC on its official web site currently located at 
http://www.pjm.com/pub/account/lmp/index.html, or any successor thereto, 
under the heading "PJM - Locational Marginal Pricing Files"  (the "Index").


Dale
3-9746




Eric Saibi@ENRON
06/13/2000 12:13 PM
To: Dale Neuner/HOU/ECT@ECT
cc:  
Subject: PJM Prices

The appropriate address is ftp://www.pjm.com/pub/account/lmp/index.html

This is the same as going to www.pjm.com, clicking on "Market & System Data", 
and then clicking on "Daily Real Time LMP Data".