MORE backup for the $290/MWh

Harry,
The future prices used below are from NYMEX - quoted for California Oregon
Border (COB)
I am attaching the web pages that are relevant

We obtained the NP15 numbers from a daily compilation of Dow Jones NP15
quotes. Since we don't have that on a recognizable piece of paper, I am
attaching the most recent ISO Market Activity Report for February. That
contains a February price of $341/MWh (see page 3).

To get from $290 to (about) $300/MWh add the following
1) Ancillary services -- use about 4-5% of energy costs (see page 5 of ISO
report)
2) Losses to get from Supplier to Customer -- even 5% losses (which is
conservative) adds another $10/MWh

/TJ

---------------------- Forwarded by Tamara Johnson/HOU/EES on 04/17/2001
09:29 AM ---------------------------

Tamara Johnson
04/13/2001 05:22 PM
To: Scott Stoness/HOU/EES@EES, Harry Kingerski/NA/Enron@Enron
cc:
Subject: backup for the $290/MWh

NP15: Recorded hourly Dow Jones numbers averaged using the same time periods
as NYMEX.
MW: Reported as of April 12 NYMEX.

Peak Periods = (365 days less 10 holidays) x 6/7 weekdays x 16 hours =< 56%
On-peak

The current rates for PG&E and SCE are as per the Mar 27 CPUC decision. The
GWh are from the utilities 2001 (12mos) rate design templates.