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Enron Mail |
Thank you to everyone that attended the meeting on energy product definition
on Tuesday, May 7th at Tractebel's offices in Houston. The objective of this meeting was to define the initially offered energy product that will be available for electronic matching transactions on the APX Trading Exchange that will open June 1st in the ERCOT market. This objective was realized. The first energy product that will be offered on the APX Trading Exchange is defined as follows: FIRM ENERGY/HOURLY (FEH) * Supply or pay * He who moves the power pays * Marked one of four ways when posted: * North Zone * West Zone * South Zone * Any Zone * Traded hourly * Trading period extends out 72 hours from the end of the Adjustment Period * Trading period closes 15 minutes before the Operating Period At the request of meeting participants, I am also including a definition for a Firm Energy/Daily Product. This definition might be considered as a market standard definition for daily energy bilateral trading as of June 1st. This product will not be offered on the APX Trading Exchange on June 1st but, with consensus, could be used for daily energy transactions between market participants. FIRM ENERGY/DAILY (FED) * Supply or pay * Seller's choice * Sink pays congestion I'm also attaching the Powerpoint slides that were used to kick-off the brainstorming session during the meeting. If I've missed any crucial information, or any decisions that were made during the meeting, please refresh my memory. If you have any additional comments or feedback, please contact me. Thank you again for taking the time to work as a market team in developing a strategy to create a vibrant and liquid market. If you do not already have desktop access to APX trading technology, please let me know and we will provide you with additional information. Wendy Brown Manager, Market Development Automated Power Exchange 3800 Buffalo Speedway, Suite 150 Houston, TX 77098 713-850-9515 office 832-444-8402 cellular www.apx.com <<trader meeting.ppt<< - trader meeting.ppt
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