Enron Mail

From:sara.shackleton@enron.com
To:mark.taylor@enron.com
Subject:Financial Power - "Negative Pricing"
Cc:
Bcc:
Date:Wed, 8 Dec 1999 06:59:00 -0800 (PST)

The east and west power desks are creating slightly different floating price
language for some of the power pools. The west desk wants "negative prices"
to be averaged in as "zeroes"; the east desk wants to average in all prices
"positive or negative". I'm inclined to let the traders do as they wish. I
can't seem to get an explanation for the difference in approach (in each
instance ENA may take either side of the deal). The confirm desk will have
to pay attention to the source of the confirms to use the correct pricing
language. I don't know if this will create an on-line trading issue.

What do you think? Sara