Spread Value Calc.

We are building a model this a.m. to test calculation assumptions. Has PG&E asked for any clarification or changes to my proposed calc.

I will have confirmation of the calc first thing this a.m. ( monday )

BT.
---------------------- Forwarded by Barry Tycholiz/NA/Enron on 04/16/2001 09:16 AM ---------------------------

Gerald Nemec@ECT
04/12/2001 05:43 PM
To: Steve Van Hooser/HOU/ECT@ECT, Peter.meier@neg.pge.com
cc: Barry Tycholiz/NA/Enron@ENRON

Subject: Spread Value Calc.

Attached is a draft of the mark to market language per your discussion with Barry. Please review and contact Barry directly to discuss.

Barry's numbers
(713) 667-9956 Home
(713) 302-6442 Cell