US Pwr Fin Swap (Weather Desk) EXTERNAL

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US Pwr Fin Swap PJM DemPk 10/MW Nov00 USD/MW

A US Power Demand Financial Swap Transaction with Enron North America Corp.,
under which the Seller is obliged to pay the Payment Amount to the Buyer
where the Floating Amount is above the Strike Amount, or where the Buyer is
obliged to pay the Payment Amount to the Seller where the Floating Amount is
below the Strike Amount. The Strike Amount is the amount in Megawatts
submitted in the "price" field by Counterparty via the website. The Notional
Amount is the product of the quantity submitted by Counterparty via the
website and the Pay Unit. The Payment Amount is the product of (i) the
Notional Amount and (ii) the absolute value of the difference between the
Floating Amount and the Strike Amount. The Payment Amount will be payable on
or before ten (10) business days after the Floating Amount for the
Calculation Period is determinable.
The Calculation Period is from and including the Effective Date of 01 Nov
2000 (Initial Date) to and including the Termination Date of 30 Nov 2000 (End
Date).
The Floating Amount shall be the arithmetic average of the hourly PJM loads
for Peak hours on each Delivery Day during the Calculation Period. The
Floating Amount shall be calculated utilizing the hourly integrated loads
published by PJM Interconnection, LLC ("PJM") on its official web site
currently located at ftp://www.pjm.com/pub/account/loadhryr/index.html, or
any successor thereto, under the heading "PJM Hourly Load Data".
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 megawatts and
the quantity shown shall be in total MWs.
The transaction is for on-peak ("Peak") hours on each Delivery Day beginning
with the hour ending 0800 (7:00 am) and concluding with the hour ending 2300
(11:00 pm) Eastern Prevailing Time. "Delivery Day" means a day during the
term of the transaction that is a Monday, Tuesday, Wednesday, Thursday, or
Friday, excluding any day that is a NERC holiday.
The Pay Unit is 10 USD.