TVA - new deal

----- Forwarded by Elizabeth Sager/HOU/ECT on 02/20/2001 02:21 PM -----

David Portz
02/20/2001 02:06 PM

To: Elizabeth Sager/HOU/ECT@ECT
cc:
Subject: TVA

----- Forwarded by David Portz/HOU/ECT on 02/20/2001 02:05 PM -----

Joseph Wagner@ENRON
02/20/2001 09:57 AM

To: David Portz/HOU/ECT@ECT, Edward Sacks/Corp/Enron@Enron
cc:
Subject: TVA

Dave and Ed,

We closed two option deals with TVA last week. They have sent the following
comments on our standard confirms.

Dave - Rogers has already commented on the 16 hour call. His comment was
that this is a 16 hour call, all or none, not up to 16 hours. Secondly, the
option is exercisable in 50 MW blocks (increments of 50MW) not a minimum of
50 MW. Please look at the rest of the language and let me know your
thoughts. Thanks.

Ed- there are some credit additions on page 3 under credit assurance. Let
me know what you think.

Thanks guys.

-Joe