Message-ID: <22029857.1075842251635.JavaMail.evans@thyme>
Date: Wed, 27 Sep 2000 02:02:00 -0700 (PDT)
From: russell.murrell@enron.com
To: dan.hyvl@enron.com
Subject: PERC index pricing
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The Index for pricing in the PERC contracts is based on the average of the 
"spot" price and the "citygate" price as follows:

Calculation of spot price (C):

C = (A+B)/2
Where A is the low and B is the high of the range as reported in the first 
publication of the billing month of "Inside F.E.R.C's Gas Market Report" for 
Chicago citygate.

Calculation of citygate price (E):

E = (D+C)/2
Where D is the price as reported in the first publication of the billing 
month of "Natural Gas Week" for Delivered to Utility, Midwest.

Calculation of Contract Price (F):

F = E x applicable percentage