TW Top Ten-Browncover

Attached is the TW Top Ten Shippers by Revenues for the year 2001 to be reported in the Browncover report.

Note:

Total transportation invoiced for 2001 was $180.9m. The amount of transportation revenues recorded in the general ledger is $165.9m.

This difference is mainly due to the following:
$10.0m - negotiated rates reserve(Reliant,Sempra, Richardson, Astr,and BP Energy) - $collected
$ 2.7m - SoCal rate issue - $not collected
$ 1.8m - additional month of PGE revenues due to prepayment invoicing beginning in 2001 - $collected
Revenues for these customers were adjusted according.

Also, revenues for the shippers acquiring released volumes from PGE at rates above TW's tariff rates were adjusted accordingly.

Please call me at x36709 if there are questions

thanks,
richard