Melba:  This looks fine.  Sara

P.S.  Are there other financial powere products with a 10 Business Day 
payment period?

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com



	Melba Lozano
	01/24/2001 09:37 AM
		 
		 To: Sara Shackleton/HOU/ECT@ECT
		 cc: shari Stack/HOU/ECT@ECT, Melissa Ann Murphy/HOU/ECT@ECT, Robert B 
Cass/HOU/ECT@ECT, Kevin Meredith/Corp/Enron@ENRON
		 Subject: Payment Date for financial power trades on EnronOnline

Sara,

Have gotten a chance to look at this?  Please let me know if you have any 
questions or concerns.  

Thanks,

Melba
---------------------- Forwarded by Melba Lozano/HOU/ECT on 01/24/2001 09:35 
AM ---------------------------
   


From:  Melba Lozano                                                           
  01/22/2001 10:46 AM	
	
	
	                           
	

To: Sara Shackleton/HOU/ECT@ECT
cc: Shari Stack/HOU/ECT@ECT, Melissa Ann Murphy/HOU/ECT@ECT, Robert B 
Cass/HOU/ECT@ECT, Kevin Meredith/Corp/Enron@ENRON 
Subject: Payment Date for financial power trades on EnronOnline

Sara,

Melissa Murphy has asked me to revise the language for all financial power 
products on EnronOnline.  Please let me know if the section below (in blue) 
is o.k. by you.  If you have any questions please let me know.

Thanks,

Melba


Example:

US Pwr Fin Swap  TVA MWD Peak            Jun01           USD/MWh

A US Power financial Swap Transaction with Enron North America Corp. under 
which the Seller pays a Floating Price and the Buyer pays the price submitted 
by Counterparty on the website (the Fixed Price) in respect of the Notional 
Quantity per Determination Period. The Notional Quantity per Determination 
Period shall be the volume submitted by Counterparty on the website, 
multiplied by the number of applicable hours in such Determination Period. 
Each calendar month during the term of the Transaction will be a 
Determination Period; provided that, if the term of the Transaction is less 
than one calendar month the Determination Period shall be the term of the 
Transaction. The Payment Date(s) for Transactions which are less than one 
month will be the fifth (5th) Business Day following the last day of the 
month that includes the Determination Period. The Payment Date(s) for 
Transactions which are one month or longer will be the fifth (5th) Business 
Day following the date on which the Floating Price is determinable.
The transaction is for the applicable hours as set forth herein on each 
Delivery Day for the Effective Date 01 Jun 2001 to the Termination Date 30 
Jun 2001.
The Floating Price during a Determination Period shall be the average of the 
daily prices listed in the Index for power 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 daily 
prices published in Megawatt Daily's Market Report under the headings "Trades 
for Standard 16-Hour Daily Products;Weighted Average Index; TVA, into"  (the 
"Index").
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').
The transaction is for on-peak ("Peak") hours on each Delivery Day beginning 
with the hour ending 0700 (6:00 am) and concluding with the hour ending 2200 
(10:00 pm) Central 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.

Existing Language:
A US Power financial Swap Transaction with Enron North America Corp. under 
which the Seller pays a Floating Price and the Buyer pays the price submitted 
by Counterparty on the website (the Fixed Price) in respect of the Notional 
Quantity per Determination Period. The Notional Quantity per Determination 
Period shall be the volume submitted by Counterparty on the website, 
multiplied by the number of applicable hours in such Determination Period. 
Each calendar month during the term of the Transaction will be a 
Determination Period; provided that, if the term of the Transaction is less 
than one calendar month the Determination Period shall be the term of the 
Transaction. The Payment Date(s) will be 10 calendar days following the last 
day of the month that includes the Determination Period.
---------------------- Forwarded by Melba Lozano/HOU/ECT on 01/22/2001 10:30 
AM ---------------------------


Melissa Ann Murphy
01/18/2001 10:38 AM
To: Robert B Cass/HOU/ECT@ECT, Melba Lozano/HOU/ECT@ECT
cc: Sara Shackleton/HOU/ECT@ECT, Leslie Hansen/HOU/ECT@ECT, Kim S 
Theriot/HOU/ECT@ECT, Leslie Reeves/HOU/ECT@ECT, Stacey W White/HOU/ECT@ECT 
Subject: Payment Date for financial power trades on EnronOnline

Hello, Kim Theriot and Leslie Reeves have spoken with Debbie Brackett in 
credit to discuss the payment date for financial power transactions done on 
EnronOnline.  The confirmation letters (for all financial power trades) that 
I send out have the following payment date language on them:

The fifth (5th) Business Day following the date on which the Floating Price 
is determinable (for trades one month or longer)

The fifth (5th) Business Day following the last day of the month that 
includes the Determination Period (for trades less than one month)

The language on EnronOnline is different.  EnronOnline has 10 calendar days 
instead of 5 Business Days (see the EnronOnline definition below).

Debbie Brackett wants the payment date to remain as 5 days for netting 
purposes across ENA.

Please let me know if there is anything else I need to do in order to get 
this language changed on EOL for all financial power products.

Thank you,
Melissa
3-1886