Tana/Karen:

The product long description below will fall under the new product type US 
Gas Phy Index Firm 5-day Flexible non-TX>1Mo<1Yr.  Credit (Tom Moran) has 
approved copying the profiles for the new product type from the following:

US Gas Phy Index Firm non-TX>1Mo<1Yr

Please respond by 10 a.m. on Wednesday, November 8.

Thank you.
---------------------- Forwarded by Lisa Lees/HOU/ECT on 11/07/2000 02:13 PM 
---------------------------
   


From:  Melba Lozano                                                           
  11/01/2000 04:52 PM	
	
	
	                           
	

To: Mark Taylor/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT, Bjorn 
Hagelmann/HOU/ECT@ECT, Stephen H Douglas/HOU/ECT@ECT, Jeff 
Blumenthal/HOU/ECT@ECT
cc: Lisa Lees/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, Robert B 
Cass/HOU/ECT@ECT 
Subject: US Gas Phy Index Firm 5-day Flexible non-TX>1Mo<1Yr - Approval 
Required!

Your review and approval of the following product type in the EOL Datamanager 
is needed. This product already exists for products less than 1month.  

Mark:  Stacey Dickson has already approved this language.


EXAMPLE:

A US Gas Transaction with Enron North America Corp. (ENA), under which (A) 
where ENA is the Buyer,  ENA shall deliver to Counterparty and Counterparty  
shall receive a quantity of natural gas equal to the volume submitted by the 
Counterparty via the website for delivery on each day during the Period of 
Delivery (the sum of the daily volumes shall equal the 'Total Volume'), and 
Counterparty shall deliver to ENA and ENA shall receive a quantity of natural 
gas for delivery on each of the Purchase Dates during a calendar month, where 
(i) the volume of gas delivered on any Purchase Date shall not exceed 20 
percent of the Total Volume for that calendar month and (ii) the volume  of 
gas delivered on all Purchase Dates shall be in increments such that that the 
sum of said increments equals the Total Volume for that calendar month, or  
(B) where ENA is the Seller,  Counterparty shall deliver to ENA  and ENA  
shall receive a quantity of natural gas equal to the volume submitted by the 
Counterparty via the website for delivery on each day during the Period of 
Delivery (the 'Total Volume'), and ENA shall deliver to Counterparty and 
Counterparty shall receive a quantity of natural gas for delivery on each of 
the Purchase Dates during a calendar month, where the volume of gas delivered 
on any Purchase Date shall not exceed 20 percent of the Total Volume for that 
calendar month and the volume of gas delivered on all Purchase Dates shall be 
in increments such that that the sum of said increments equals the Total 
Volume for that calendar month. All deliveries shall be on a firm basis.

The Contract Price shall be the price derived from the Index for that 
calendar month, as adjusted by the price submitted by the Counterparty via 
the website. The Buyer shall pay the Contract price for each calendar month 
during the Period  for gas received. The Seller shall pay the Index for each 
calendar month for gas received.

The term of the Transaction shall be from the Effective Date of __ ___ 2000 
to the Termination Date of __  ____ 2000.

The transaction is for delivery at Columbia, Appalachian. The Period of 
Delivery shall be from the effective date through the termination date. The 
Purchase Dates shall be each of no less than five days as designated by Buyer 
within each calendar month during the Period of Delivery. Buyer shall notify 
Seller by facsimile of Buyer's designation of a Purchase Date by no later 
than 10:45 a.m. Central Prevailing Time on the due date of the pipeline 
nomination for the day on which Buyer desires the gas to flow.

The Index for each calendar month shall be the Columbia Gas Transmission 
Corp., Appalachia (W. Va., Ohio, Ky.) price as listed in the section entitled 
"Prices of Spot Gas Delivered to Pipelines", published in the first issue in 
such month of Inside Ferc's Gas Market Report.

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 millions of 
British thermal units and the quantity shown shall be in millions of BTUs per 
day.