daily firm on TW ,
 The Commercial Group has asked whether they can sell daily firm for longer 
than a 3-month period.  This phrasing is of course misleading; TW's daily 
firm contracts are always for a term of just one day, but renew for 
consecutive one-day terms unless terminated.  The discount letter, on the 
other hand, grants a discounted rate for each of the one-day terms for a 
certain period of time (typically one month).  Steve Harris wants to be able 
to "sell daily firm for a one-year period."  In contractual terms all this 
would mean is that the contract is for renewabable one-day terms (as usual), 
and the discount applicable to such terms would be effective for one year.  I 
see no problem with this, do you?  (Apparently the current perception in 
marketing is that regulatory/legal was limiting daily firm to a 3-month 
period.)
mary.miller@enron.com