AVG. MONTHLY ELECTRICITY PRICES FOR THE PAST 13 MONTHS

Margaret,

Please find attached file with average monthly prices for regions your
requested. This file gives more information than the previous (yesterday)
one. As the one before, source for this file is Megawatt daily, it includes
On-Peak and Off-Peak prices and you can also see daily data that was
converted to monthly average data. There are two types of averages prices:
average and weighted average. Weighted average takes into account number of
transactions of certain price.

For example: PJM had average price of $53.61 and weighted average price of
$53.15 in August , it means that there were more transactions of lower price
than higher. Also, Megawatt Daily has its own methodology and I am attaching
it with this message.

If you have any questions regarding prices or methodology, please contact
Sevil Yaman (5-8083) or me (3-4305).

Sincerely, Elena

Enron Research Group
3-4305