Capacity Release Market Trends

---------------------- Forwarded by Chris Germany/HOU/ECT on 02/21/2001 12:22
PM ---------------------------

"CapacityCenter.com" <marketing@capacitycenter.com< on 02/20/2001 06:55:03 PM
To: Energy.Professional@mailman.enron.com
cc:
Subject: Capacity Release Market Trends

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[IMAGE] Markets Responding to Order 637 Price Cap Removal.

CapacityCenter.com research results show that the pipeline capacity release
marketplace is responding positively to the price cap removal provisions of
Order 637.

A look at the past few months reveals an increase of almost 500% in the
number of over-max-rate deals since the months just after the ruling went
into effect. Traders and contract owners alike are taking advantage of new
opportunities.

The research shows an overall increase in the size, duration and pricing of
the release deals, indicating that many sellers prefer to be paid directly
for their contracts rather than incur the risk involved in the purchase,
transport and delivery of gas in order to generate margin.

Capacity release trading is starting to mirror the more competitive
marketplace, which is what the FERC hoped for in countering the "bundled
deal" gray market.

For the full story, visit the Resource Center at www.capacitycenter.com

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