I wanted to be sure you had this information.

Steve
----- Original Message -----
From: <Gerald.Nemec@enron.com>
To: <svanhooser@houston.rr.com>
Sent: Friday, April 13, 2001 11:40 AM
Subject: RE: Spread Value Calc.


> Steve,  Just talked with Barry.  He said based on last night's curve, the
> valuation formula would result in a value of $250 mil.  A detailed calc
for
> this value will have to wait til Monday.
>
>
> ----- Forwarded by Gerald Nemec/HOU/ECT on 04/13/2001 11:37 AM -----
>
>                     "Meier, Peter"
>                     <peter.meier@ne        To:
"'Gerald.Nemec@enron.com'" <Gerald.Nemec@enron.com>,
>                     g.pge.com>             Steve.Van.Hooser@enron.com,
"Meier, Peter" <peter.meier@neg.pge.com>,
>                                            "'svanhooser@houston.rr.com'"
<svanhooser@houston.rr.com>
>                     04/13/2001             cc:
Barry.Tycholiz@enron.com, "'wbradfo@enron.com'"
>                     01:33 AM               <wbradfo@enron.com>,
"'lisa.mellencamp@enron.com'"
>                                            <lisa.mellencamp@enron.com>,
"Barron, Bob" <bob.barron@neg.pge.com>,
>                                            "Sarti, Daniel"
<daniel.sarti@neg.pge.com>, "Jones, Susan"
>                                            <susan.jones@neg.pge.com>
>                                            Subject:     RE: Spread Value
Calc.
>
>
>
>
>
> We will review this in the morning.  In the meantime, it would be
extremely
> helpful to know what the practical effect of your calculation would be.
In
> other words, using this method, what is the valuation of each of the
> packages as of today?  Please e-mail your calculation to each of us on the
> PG&E team.  Thanks, Peter
>
> -----Original Message-----
> From: Gerald.Nemec@enron.com [mailto:Gerald.Nemec@enron.com]
> Sent: Thursday, April 12, 2001 6:44 PM
> To: Steve.Van.Hooser@enron.com; Peter.meier@neg.pge.com
> Cc: Barry.Tycholiz@enron.com
> Subject: Spread Value Calc.
>
>
> Attached is a draft of the mark to market language per your discussion
with
> Barry.  Please review and contact Barry directly to discuss.
>
> Barry's numbers
> (713) 667-9956 Home
> (713) 302-6442 Cell
>
> (See attached file: PGESpreadvaluationdefinition.doc)
>
>
> PG&E National Energy Group and any other
> company referenced herein that uses the PG&E name or
> logo are not the same company as Pacific Gas and
> Electric Company, the regulated California utility.  Neither
> PG&E National Energy Group nor these other
> referenced companies are regulated by the California Public
> Utilities Commission.  Customers of Pacific Gas and Electric Company
> do not have to buy products from these companies in order
> to continue to receive quality regulated services from the utility.
>
>