RE: FW: Super Peak loadshape language

Chris
=20
Further to our conversation, hopefully this language describes the scheduli=
ng=20
aspect of the product as required. If not, please do not hesitate to call m=
e.
Please check again to see that the requirement is that the scheduling must=
=20
take place on the Weekday before and only on that date. This does appear to=
=20
be inflexible, I would prefer that the parties have the flexibility to=20
schedule earlier if they elect to do so.
=20
Regards,
=20
Marcus

"Firm energy shall, unless otherwise agreed, be scheduled on the Weekday=20
before the next Delivery Day. "Weekday" means a day during the term of the=
=20
transaction that is a Monday, Tuesday, Wednesday, Thursday, or Friday,=20
excluding any day that is a NERC holiday"
a day during the term of the transaction that is a Monday, Tuesday,=20
Wednesday, Thursday, or Friday, excluding any day that is a NERC holiday.=
=20

=20

=09Chris Walker/ENRON@enronXgate
=0905/16/2001 11:03 AM
=09=09=20
=09=09 To: Marcus Nettelton/NA/Enron@ENRON
=09=09 cc: Elizabeth Sager/HOU/ECT@ECT, Peter Makkai/NA/Enron@Enron
=09=09 Subject: RE: FW: Super Peak loadshape language

Thanks Marcus, I apologize for all the emails. Could we change to the=20
following as noted below? =20

"Firm energy shall, unless otherwise agreed, be scheduled on the weekday=20
before the next Delivery Day."=20
CW

-----Original Message-----
From: Nettelton, Marcus =20
Sent: Wednesday, May 16, 2001 10:19 AM
To: Walker, Chris
Cc: Sager, Elizabeth; Makkai, Peter
Subject: RE: FW: Super Peak loadshape language

Chris
=20
The Business Day language will impose greater planning disclipline on all=
=20
parties, however If the requirement is for the scheduling to be the day=20
before, whether a holiday or not, then the language can be changed to read =
as=20
follows, with some flexibility to enable scheduling to take place any time=
=20
before the Delivery Day:

"Firm energy shall, unless otherwise agreed, be scheduled on or before the=
=20
day before the next Delivery Day."=20
=20
Marcus

=09Chris Walker/ENRON@enronXgate 05/16/2001 09:48 AM =09 To: Marcus=20
Nettelton/NA/Enron@ENRON cc: Elizabeth Sager/HOU/ECT@ECT, Peter=20
Makkai/NA/Enron@Enron Subject: RE: FW: Super Peak loadshape language

Marcus,

Peter and Kevin's concern with the language you suggested is that NERC=20
holidays do not coincide with Federal Reserve banking holidays. Martin=20
Luther King Day, Washington's Day, Columbus Day, and Veteran's Day are all=
=20
Federal banking holidays which are not NERC holidays. Since they want the=
=20
power to be scheduled the day before delivery, the language defining busine=
ss=20
day as " a day on which Federal Reserve member banks in New York City are=
=20
open for business" prohibits scheduling on these 4 days mentioned above. =
=20
Please feel free to contact either myself or Peter Makkai with any question=
s.

Thanks,

CW
3-7533

-----Original Message-----
From: Nettelton, Marcus =20
Sent: Tuesday, May 15, 2001 2:23 PM
To: Walker, Chris
Cc: Sager, Elizabeth
Subject: Re: FW: Super Peak loadshape language

Chris
=20
While our current goal is to define the Into Product on EOL, to reflect the=
=20
Into Product as defined in the EEI Master Agreement, this process is not=20
complete and will, amongst other things, require buy in from the traders. T=
he=20
following is suggested wording to get Peter and Kevin through until this=20
process is complete.
=20
Regards,
=20
Marcus

"Firm energy shall be scheduled on or before the Business Day before the ne=
xt=20
Delivery Day. "Business Day" means a day on which Federal Reserve member=20
banks in New York City are open for business; and a Business Day shall open=
=20
at 8:00 a.m. and close at 5:00 p.m. local time for each Party's principal=
=20
place of business."
=20

=20

=09Chris Walker/ENRON@enronXgate 05/14/2001 09:58 AM =09 To: Marcus=20
Nettelton/NA/Enron@ENRON cc: Subject: FW: Super Peak loadshape language

Marcus,

Peter Makkai and Kevin Presto on the East Power desk are following up with=
=20
their request for additional super peak loadshape language which states "Fi=
rm=20
energy shall be scheduled on a day ahead basis. =01+Day ahead basis=01, me=
ans a=20
day during the term of the transaction which precedes the Delivery Day." =
=20
Evidently, whenever they transact with this product, they are having to=20
contact the customer and inform them of this scheduling parameter. I know=
=20
you were in the process of changing the language for all Into products and=
=20
was wondering when this scheduling parameter could be added to this=20
particular loadshape.

Thanks Marcus,

CW
3-7533

-----Original Message-----
From: Makkai, Peter =20
Sent: Monday, May 14, 2001 8:55 AM
To: Walker, Chris
Subject: Re: Super Peak loadshape language

---------------------- Forwarded by Peter Makkai/NA/Enron on 05/14/2001 08:=
54=20
AM ---------------------------
From: Marcus Nettelton on 04/12/2001 03:18 PM
To: Chris Walker/HOU/ECT@ECT
cc: Peter Makkai/NA/Enron@Enron=20

Subject: Re: Super Peak loadshape language << OLE Object: StdOleLink <<=
=20

Chris=20
=20
This is an Into product which will require some specific changes. We are=20
reviewing the language for all Into products and anticipate making them all=
=20
consistent with the EEI Master Agreement definition. Until that time we wil=
l=20
not change the wording of existing Into product definitions. I am currently=
=20
working on this and once we have approved language we will be able to=20
progress.
=20
Regards
=20
Marcus

=09Chris Walker@ECT 04/12/2001 12:11 PM =09 To: Marcus Nettelton/NA/Enron=
@ENRON =20
cc: Subject: Re: Super Peak loadshape language

Here is the current long description.

A US Power Transaction with Enron Power Marketing, Inc., under which the=20
Seller shall sell and the Buyer shall purchase a quantity of firm energy=20
equal to the Hourly Quantity at the Contract Price. The Contract Price shal=
l=20
be as submitted by the Counterparty via the Website.
The transaction is for the applicable hours as set forth herein on each=20
Delivery Day for the Effective Date 01 Jul 2001 to the Termination Date 31=
=20
Aug 2001.
The transaction is for delivery or receipt of energy to any available point=
=20
Into Cinergy System Border at Seller's daily election.
The price is quoted in US Dollars per unit of volume, which will be the=20
Contractual Currency.
The unit of measure against which the price is quoted shall be megawatt-hou=
rs=20
(MWh) and the quantity shown shall be in MW's delivered in each applicable=
=20
hour for the duration of the Transaction (the "Hourly Quantity').
The transaction is for the hours beginning with the hour ending 1300 (12:00=
=20
am) and concluding with the hour ending 2000 (8:00 pm) Central Prevailing=
=20
Time on each Delivery Day. 'Delivery Day' means a day during the term of t=
he=20
transaction that is a Monday, Tuesday, Wednesday, Thursday, or Friday,=20
excluding any day that is a NERC holiday.

---------------------- Forwarded by Chris Walker/HOU/ECT on 04/12/2001 12:0=
8=20
PM ---------------------------
From: Marcus Nettelton@ENRON on 04/12/2001 12:05 PM
To: Chris Walker/HOU/ECT@ECT
cc: Peter Makkai/NA/Enron@Enron=20
Subject: Re: Super Peak loadshape language << OLE Object: StdOleLink <<=
=20

Chris

If it is firm Energy, to be delivered for a fixed period, starting and=20
finishing at the times specified, it is unclear why the scheduling=20
requirement is applicable at all.=20

The obligations are to deliver and receive and the parties have agreed to=
=20
that. If there is a failure to deliver or failure to receive then the GTCs=
=20
provide the non-defaulting party with a remedy.=20

Please could you forward me the complete product description in any event.
=20
Regards,
=20
Marcus

=09Chris Walker@ECT 04/12/2001 11:14 AM =09 To: Marcus Nettelton/NA/Enron=
@ENRON =20
cc: Peter Makkai/NA/Enron@Enron Subject: Re: Super Peak loadshape language

Marcus,

Please review the following loadshape language. Peter Makkai would like to=
=20
add the language in RED.

The transaction is for the hours beginning with the hour ending 1300 (12:00=
=20
pm) and concluding with the hour ending 2000 (8:00 pm) Central Prevailing=
=20
Time on each Delivery Day. 'Delivery Day' means a day during the term of t=
he=20
transaction that is a Monday, Tuesday, Wednesday, Thursday, or Friday,=20
excluding any day that is a NERC holiday. Firm energy shall be scheduled o=
n=20
a day ahead basis. =01+Day ahead basis=01, means a day during the term of =
the=20
transaction which precedes the Delivery Day.

Thanks,

CW
3-7533

---------------------- Forwarded by Chris Walker/HOU/ECT on 04/12/2001 11:0=
0=20
AM ---------------------------

<< OLE Object: Picture (Device Independent Bitmap) <<=20
Peter Makkai@ENRON
04/12/2001 09:58 AM
To: Chris Walker/HOU/ECT@ECT
cc: =20
Subject: Re: Super Peak loadshape language << OLE Object: StdOleLink <<=
=20

Chris,

loudshape language looks good, just change this subtle change,

transaction which precedes a Delivery Day. to

transaction which precedes the Delilvery Day

when will this be reflected in the product description?

thank you,

Peter
31541

<< OLE Object: Picture (Device Independent Bitmap) <<=20
Chris Walker@ECT
04/12/2001 09:39 AM
To: Peter Makkai/NA/Enron@Enron
cc: =20

Subject: Super Peak loadshape language

Peter,

Review the folowing loadshape language and let me know of any suggestions. =
=20
I'll then forward it to Marcus Nettelton.

The transaction is for the hours beginning with the hour ending 1300 (12:00=
=20
pm) and concluding with the hour ending 2000 (8:00 pm) Central Prevailing=
=20
Time on each Delivery Day. 'Delivery Day' means a day during the term of t=
he=20
transaction that is a Monday, Tuesday, Wednesday, Thursday, or Friday,=20
excluding any day that is a NERC holiday. Firm energy shall be scheduled o=
n=20
a day ahead basis. =01+Day ahead basis=01, means a day during the term of =
the=20
transaction which precedes a Delivery Day.

Thanks,

CW
3-7533