West Index Products

Dale:

At long last, attached please find the revised Index Product Long
Descriptions (clean and red-line), as well as the new Index descriptions.

Please note that Mike asked me to include a ZP26 Peak and Off-Peak Index.

I have also included below revised language for the Financial Power Swap
Product, which Mark Taylor should okay:

Financial Power Swap Product:

"A US Power Financial Swap Transaction with Enron North America Corp., under
which the Seller
pays a Floating Price and the Buyer pays the price submitted by Counterparty
on the website
(the Fixed Price) in each case in respect of the Notional Quantity per
Determination Period. Each
calendar month during the term of the Transaction or the term of the
Transaction if it is less than a month will be
a Determination Period. The Notional
Quantity per Determination Period shall be the volume for the relevant
Determination Period
(calculated using the volume submitted by Counterparty via EnronOnline). The
Payment Date(s)
will be 5 business days after the Floating Price is determinable. The
Floating Price shall be the
average of the Index for each day in the relevant Determination Period."

Let me know when you have some product examples for my review.
I need to look at a full-blown example to make sure we've covered all the
bases.

Leslie