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----- Forwarded by Elizabeth Sager/HOU/ECT on 06/04/2001 10:49 AM -----


	Melba Lozano/ENRON@enronXgate 05/25/2001 04:35 PM 	   To: Elizabeth Sager/HOU/ECT@ECT, Frank Hayden/ENRON@enronXgate, Mark Taylor/HOU/ECT@ECT  cc: Robert B Cass/ENRON@enronXgate, Carlos Alatorre/ENRON@enronXgate  Subject: FW: US Power Phy Options - Approval Needed	


Please approve the attached Product Types.
Melba Lozano
713-345-8986 
713-646-8511 Fax
713-698-4847 Pager

 -----Original Message-----
From: 	Lozano, Melba  
Sent:	Wednesday, May 23, 2001 11:37 AM
To:	Sager, Elizabeth; Moran, Tom; Hayden, Frank; White, Stacey; Blumenthal, Jeff; Musch, Susan; Gockerman, Matthew F.; Taylor, Mark
Cc:	Cass, Robert B.; Walker, Chris; Meredith, Kevin; Alatorre, Carlos; Lees, Lisa; Sever, Stephanie; O'day, Karen; Jones, Tana; Lambert, Karen; Lombardi, Kelly
Subject:	US Power Phy Options - Approval Needed
Importance:	High


Your review and approval of the following product types in the EOL Datamanager is needed (for directions on approval , please see steps for approval at the bottom of this e-mail). If you have any questions please call me at ext. 58986.   
******** DO NOT APPROVE PRODUCT TYPES BETWEEN THE HOURS OF 6AM - 11AM***********

Traders: 	Harry Arora and Robert Stalford
Product 
Names: 	US East Power Phy Option Call (2077)
		US East Power Phy Option Put (2078)


    

US Pwr Phy Opt 	PJM-W	EPXXX	Jul01	USD/MWh
A US Power Transaction with Enron Power Marketing, Inc., under which the Put Option Buyer has the right, but not the obligation, to elect on the Exercise Date to schedule and deliver, and the Put Option Seller would have the obligation to schedule, receive and pay for at the Strike Price, a quantity of firm energy equal to the Hourly Quantity for each applicable hour during the term of the transaction.  The Strike Price shall be as set forth in the Product description on the Website.  As consideration for this right, the Put Option Buyer shall be required to pay to the Put Option Seller the Premium which shall be equal to the product of (i) the price submitted by Counterparty via EnronOnline, multiplied by (ii) the total number of hours during the term of the transaction, multiplied by (iii) the Hourly Quantity.  The Payment Date for the Premium shall be within two (2) business days of the Transaction Date. The Option style and type shall be a monthly European Put ("EP").
The transaction is for the applicable hours as set forth herein on each Delivery Day for the Effective Date 01 Jul 2001 to the Termination Date 31 Jul 2001.

The transaction is for delivery or receipt of energy at the PJM Western Hub.

The price is quoted in US Dollars per unit of volume, which will be the Contractual Currency. The unit of measure against which the price is quoted shall be megawatt-hours (MWh) and the quantity shown shall be in MW's delivered in each applicable hour for the duration of the Transaction (the "Hourly Quantity').

In order to exercise the Option, the Option Buyer shall provide telephonic notice to the Option Seller prior to 10:00 am (Eastern Prevailing Time) on the Exercise Date.  The Exercise Date shall be the second penultimate NERC business day of the month prior to the month in which the term commences.

The transaction is for on-peak ("Peak") hours on each Delivery Day beginning with the hour ending 0800 (7:00 am) and concluding with the hour ending 2300 (11:00 pm) Eastern Prevailing Time. "Delivery Day" means a day during the term of the transaction that is a Monday, Tuesday, Wednesday, Thursday, or Friday, excluding any day that is a NERC holiday.

US Pwr Phy Opt 	PJM-W	ECXXX	Jul01	USD/MWh
A US Power Transaction with Enron Power Marketing, Inc., under which the Call Option Buyer has the right, but not the obligation, to elect on the Exercise Date to schedule, receive and pay for at the Strike Price, and the Call Option Seller would have the obligation to schedule and deliver, a quantity of firm energy equal to the Hourly Quantity for each applicable hour during the term of the transaction. The Strike Price shall be as set forth in the Product description on the Website. As consideration for this right, the Call Option Buyer shall be required to pay to the Call Option Seller the Premium which shall be equal to the product of (i) the price submitted by Counterparty via EnronOnline, multiplied by (ii) the total number of hours during the term of the transaction, multiplied by (iii) the Hourly Quantity.  The Payment Date for the Premium shall be within two (2) business days of the Transaction Date. The Option style and type shall be a monthly European Call ("EC").

The transaction is for the applicable hours as set forth herein on each Delivery Day for the Effective Date 01 Jul 2001 to the Termination Date 31 Jul 2001.

The transaction is for delivery or receipt of energy at the PJM Western Hub.
 
The price is quoted in US Dollars per unit of volume, which will be the Contractual Currency. The unit of measure against which the price is quoted shall be megawatt-hours (MWh) and the quantity shown shall be in MW's delivered in each applicable hour for the duration of the Transaction (the "Hourly Quantity').

In order to exercise the Option, the Option Buyer shall provide telephonic notice to the Option Seller prior to 10:00 am (Eastern Prevailing Time) on the Exercise Date.  The Exercise Date shall be the second penultimate NERC business day of the month prior to the month in which the term commences.

The transaction is for on-peak ("Peak") hours on each Delivery Day beginning with the hour ending 0800 (7:00 am) and concluding with the hour ending 2300 (11:00 pm) Eastern Prevailing Time. "Delivery Day" means a day during the term of the transaction that is a Monday, Tuesday, Wednesday, Thursday, or Friday, excluding any day that is a NERC holiday.
==============================================================================

STEPS FOR APPROVAL:

click the 	START button 
select 	PROGRAMS
select 	TEST APPLICATIONS
select	ENRONONLINE CLUSTER(PROD)
	PROCEED WITH USUAL LOGIN/PASSWORD 
click the	Enron Online Production Cluster "START" button  
select	EnronOnLine (this is the EOL Datamanager)
	PROCEED WITH EOL LOGIN/PASSWORD
click on the "+" for EnronOnLine
click on the "+" for Product Types
click on the "+" for "Partially Approved"
select the product requiring review as stated in e-mail above
Right "mouse" click on "properties" to view product set-up