FW: ERCOT spread ,
 Mark,

I have created the product using the language that Leslie requires.  If you=
 need more than this to sign-off on the Product type, please let me know.

Kevin

 -----Original Message-----
From: =09Hansen, Leslie =20
Sent:=09Friday, September 07, 2001 9:49 AM
To:=09Meredith, Kevin; Walker, Chris
Subject:=09RE: ERCOT spread

Kevin and Chris:

The spread looks fine except for one minor point.  I'd included a parenthet=
ical defined term at the end fo section (A) of the product long description=
 so that it would be clear in section (B) that Firm (LD) energy was as defi=
ned in Schedule P of the EEI agreement.  You deleted the reference.  Please=
 include the parenthetical or give me a call to discuss leaving it out if y=
ou prefer.

Thanks,

Leslie

A US Power Spread Transaction (as defined below) with Enron Power Marketing=
, Inc. under which the Seller (the "Spread Seller") and the Buyer (the "Spr=
ead Buyer") shall enter into two physical power transactions, under which e=
ither (A) for the case in which Counterparty submits an offer to buy from E=
nron, Counterparty shall buy the First Product and sell the Second Product,=
 each in respect of the quantity of Firm (LD) energy equal to the Hourly Qu=
antity at the Contract Price in accordance with the terms of the "Firm (LD)=
" definition in Schedule P of the Edison Electric Institute Master Power Pu=
rchase and Sale Agreement Version 2.1 (modified 4/25/00), including, withou=
t limitation, any defined terms contained therein, notwithstanding anything=
 to the contrary in the master agreement, if any, that governs these Transa=
ctions ("Firm (LD) Energy"); or (B) for the case in which Counterparty subm=
its an offer to sell to Enron, Counterparty shall sell the First Product an=
d buy the Second Product, each in respect of the quantity of Firm (LD) ener=
gy equal to the Hourly Quantity at the Contract Price.

 -----Original Message-----
From: =09Meredith, Kevin =20
Sent:=09Tuesday, September 04, 2001 1:26 PM
To:=09Gilbert-smith, Doug
Cc:=09Hansen, Leslie
Subject:=09ERCOT spread

Doug/Leslie,

Here is a first rough draft of the long and short description for the ERCOT=
 spread.  Please review and let me know your thoughts.  If you have questio=
ns, please call me at x3-9555.

Kevin Meredith

EnronOnline
(713) 853-9555

 << File: ERCOT Spreads.doc >>
legal <.taylor@enron.com>