Re: Transco Z4/Z5 curves for Piedmont

Gil,

Note that our forward curves for Transco Zone 5 (summer only) show a basis of
$.42. Assuming a $5.00 gas price, the commodity and fuel is $.2437 making
Piedmont's capacity worth $.1763. So Keith's current bid of $.19 is in the
ballpark. I'm still waiting to hear back from LG&E. Southern Co. plans on
getting back with me on this early next week as is Tenaska/PECO as you know.

---------------------- Forwarded by Phil DeMoes/Corp/Enron on 02/01/2001
07:04 AM ---------------------------

From: Sandy Olitsky @ ECT 01/31/2001 10:20 AM

To: Phil DeMoes/Corp/Enron@ENRON
cc:

Subject: Re: Transco Z4/Z5 curves for Piedmont

Phil:
You were so right. Sorry about that. Attached is the corrected version.
Thanks.
Sandy