Enron Mail

From:mike.curry@enron.com
To:flbusot@tecoenergy.com, jebrown@tecoenergy.com, ebronner@tecoenergy.com
Subject:FW: re: Contingent Call on Frontera
Cc:clint.dean@enron.com, doug.gilbert-smith@enron.com,christopher.ahn@enron.com
Bcc:clint.dean@enron.com, doug.gilbert-smith@enron.com,christopher.ahn@enron.com
Date:Thu, 24 May 2001 04:39:00 -0700 (PDT)

Jerry/Eric/Frank,

Attached please find a "Unit Contingent" call option proposal that I had
promised you at our last meeting. The thought here is Frontera could sell
energy firm from the plant (once you become comfortable with its operation)
and hedge most of the risk of a unit outage with this product. The time to
do this is when the premium for a firm product (roughly $5/MWh) is greater
than the price of this product (roughly mid to high $2's). You will find
both an indicative proposal for Jun-Sep01 (I am not suggesting this term but
wanted to give you a feel for the pricing) and the entire standard contract
attached below for your review.

This may require further explanation on my part but I thought I would send it
to you now so you can become familiar with it. Please call if you have any
questions, - Mike 713-853-4258

-----Original Message-----
From: Ahn, Chris
Sent: Monday, May 14, 2001 9:35 AM
To: Dean, Clint
Cc: Curry, Mike
Subject: re: Contingent Call on Fronterra



Chris Ahn
Enron Power Marketing, Inc.
T: (713) 345 3613
F: (713) 646 8055