(00-322) Introduction of Mid-Columbia River Electricity Futures ,
 Notice No. 00-322
September 11, 2000

TO:
ALL NYMEX MEMBERS
ALL NYMEX MEMBER FIRMS
ALL NYMEX CLEARING MEMBERS

FROM: Neal Wolkoff, Executive Vice President

SUBJECT: Introduction of the Mid-Columbia Electricity Futures Contract.

The New York Mercantile Exchange will begin trading the Mid-Columbia=20
Electricity Futures contract at 4 PM on September 14, which marks the start=
=20
of the September 15 electronic trading session on NYMEX ACCESS.

This contract will be traded electronically along with the other Exchange=
=20
electricity contracts on the system, with the session beginning at 7 PM on=
=20
Sundays and 4 PM on Mondays through Thursdays and ending at 2:30 PM Mondays=
=20
through Fridays.

Other than delivery location, the contract will reflect the terms of the=20
Exchange=01,s California/Oregon border and Palo Verde electricity futures=
=20
contracts including a unit size of 432 megawatt hours (Mwh) of firm=20
electricity, delivered at a rate of one megawatt per hour, with the size of=
=20
the actual delivery varying according to the number of on-peak days during=
=20
the delivery month.  The first contract month will be November.  (Initial=
=20
Margins for Mid-Columbia are listed in Notice to Members No. 00-316 attache=
d.)

The Exchange will list 11 months beginning with November 2000 through=20
September 2001.

The Mid-Columbia Electricity Futures contract will use KM as the outright=
=20
commodity code and SE for the strip code.

Physical delivery may take place at any of the switchyards associated with=
=20
the following four hydro-projects:  Rocky Reach, Rock Island, Wanapum and=
=20
Priest Rapids.  These switchyards include:  Rocky Reach, Rock Island,=20
Wanapum, McKenzie, Valhalla, Columbia, Midway and Vantage.

The contract terms and conditions match those of the Exchange=01,s Western=
=20
contracts at Palo Verde and the California Oregon Border.

Delivery Period:
16 on-peak hours: hour ending 0700 (6 AM)
Pacific time to hour ending 2200 (10 PM)
Pacific time on each business day of the delivery month.

Termination of  Trading:
Trading in the delivery month shall cease on the fourth Business day prior =
to=20
the first day of the delivery month.

Prices and Fluctuations
Prices shall be quoted in dollars and cents per Mwh.
The minimum price fluctuation will be $.01 per Mwh.
There is no maximum daily price fluctuation.

For questions concerning this Notice please contact Brad Leach, Research=20
Department (212) 299-2609 or Elizabeth Kuhlenkamp, Research Department (212=
)=20
299-2597.


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