FW: PowerSurge FTR Module

-----Original Message-----
From: Will, Lloyd
Sent: Tuesday, October 23, 2001 10:14 PM
To: Dutta, Tom; Thomas, Paul D.
Subject: FW: PowerSurge FTR Module

-----Original Message-----
From: "Stuart Wright" <stuart@friedwire.com<@ENRON
Sent: Tue 10/23/2001 3:29 PM
To: Will, Lloyd; Benchluch, Moises
Cc:
Subject: PowerSurge FTR Module

Lloyd, Stephen,

Below is a piece that we're sending out to all the testers in our PowerSurge beta group. Hope you get some value out of it.

The FTR market is fast emerging among traders in the PJM market as a reliable means of hedging the transmission risk associated with power deals. Some players have even found opportunities for speculative trading in these markets. Whether you're a veteran player in the FTR market, or are just beginning to consider how participating in the market could help your trading, PowerSurge's FTR module provides you with the information and tools you need to answer your questions about the FTR market.

1. How are my FTRs doing?

If you're already participating in the FTR market, this tool will give you a daily display of how your FTRs are doing. By tracking the day ahead LMPs and FTR market clearing prices PowerSurge can tell you whether or not your FTR option is in the money. Similarly, you can use the FTR tool to find out how your competitor's FTRs are doing. Go to the PowerSurge FTR Module:

<http://www.friedwire.com/common/jsp/login/login.jsp?loginto=POWERSURGE&;gotohref=/pjm/transmission/pjmftr.jsp<

A running total of the revenues generated from an FTR for the current month's auction

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2. What is this FTR worth?

PowerSurge's FTR module can also help you determine what to pay for an FTR. By compiling all of the historical pricing information on FTRs, PowerSurge allows you to see how the market has valued these FTRs in the past, as well as how they have actually performed. This is an easy way to find undervalued FTRs for speculative trading, or simply determine what to bid on an FTR, whether it be in the auction or in the bilateral market. This pricing information in combination with the physical power information (current and historical congestion, and scheduled transmission outages) contained in FriedWire's Traffic Report, provides traders and schedulers with a wealth of information for valuing FTRs. Go to the Traffic Report:

<http://www.friedwire.com/common/jsp/login/login.jsp?loginto=TRAFFICREPORT&;gotohref=/trafficreport/frontpage/fwwelcome.jsp<

Historical monthly revenues generated from an FTR

[IMAGE]

Who's Got What?

PowerSurge's FTR module summarizes FTR information by Source, Sink, Path, and Owner. The FTR owner summaries allow you to keep track of every FTR in your own company's current portfolio as well as keep tabs on what your competitors' holdings are.

For support during your trial contact FriedWire's Client Support Group:

} support@friedwire.com

} (303) 447-0288 : Press Option "0"

For sales and licensing information, contact Stuart Wright 303-447-0288 ext. 31.

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