ERCOT calls ,
 Exploratory BID price information, not for transaction purposes.

A. $35  Call On-Peak hourly 6/1/02-5/31/12:     $2.35kwm
B. $100  Call On Peak hourly 6/1/02-5/31/12 Summer Only (M,N,Q)  $2.49kwm
C. $25 Call Off-Peak hourly (M-F Only) 6/1/02-5/31/12:   $0.03kwm
D. $25 Call Off-Peak hourly 6/1/02-5/31/12:    $0.77kwm

Model Assumptions:
Enron Bid and ERCOT Bid Curves (5/18/00)
Bid Vol and Book Vol Smile
Hourly Calls


Garrett 
39335
benjamin.rogers@enron.com, michelle.parks@enron.com, bruce.sukaly@enron.com