Dow Jones Report

The Dow Jones report is compiled of data sent from many different
counterparties. The lovely people at Dow Jones painstakingly analyze the data
to ensure its accuracy. Averaged together, these prices become the Dow Jones
daily index price. And that's the long and short of it.

The process, as you've guessed by now, is a little more complicated than
that. For one thing, Dow Jones looks at each counterparty's sales to reach an
average of all the prices. It would be redundant for each counterparty to
ALSO report their purchases from each other. Therefore, when calculating the
Dow Jones data, we only include purchases from counterparties who ARE NOT
participants in the Dow Jones survey. Following is a simple example:

Participant List NP-15 Purchases NP-15 Sales Reported NP-15 Purchases
Reported NP-15 Sales
Sempra Sempra - $250 Sempra - $250 Avista - $270 Sempra - $250
Duke Duke - $260 Duke - $260 Duke - $260
Enron Avista - $270 Avista - $270 Avista - $270

Now that's simple!

Following is the participant list for Dow Jones' survey of trading at NP-15
and SP-15 delivery points. Deals with these counterparty names need to be
excluded from the calculation of PURCHASES at NP-15 and SP-15 delivery points.

American Electric Power - Amerelecpo
Avista Energy - Avistaene
Duke Energy Trading and Marketing - Dukeenetra
El Paso Merchant Energy
Enron Power Marketing, Inc. - EPMI
Idaho Power Company - Idacorpene
PacifiCorp - PACE
Pacific Gas & Electric Company - PG&E
Powerex Corp. - PWX
Puget Sound Energy, Inc. - PSPL
Mirant Americas Energy Marketing (formerly Southern Company Energy Marketing)
- SCEM
TransAlta Energy Marketing (US) Inc. - Transalt

So I've probably succeeded in confusing you even more, but please feel free
to come bug me with questions. Good luck!

Kate