Subject: Calpine Indicative Pricing
From: [email-masked]
To: [email-masked]
Cc: [email-masked], [email-masked]
Date: Thu, 24 Feb 2000 10:38:00 -0800 (PST)

Scott,

Attached is the indicative pricing for Calpine project. As you can see below, 
we need to verify some issues to get firm number. Please let me know if you 
need firmer number. Thank you.

Jinsung Myung
(Ext: 37330)
---------------------- Forwarded by Jinsung Myung/Corp/Enron on 02/24/2000 
06:28 PM ---------------------------

	
	From:  Edith Cross @ ECT                           02/24/2000 05:48 PM

To: Benjamin Rogers/HOU/ECT@ECT, Jinsung Myung/Corp/Enron@Enron
cc: Humberto Cubillos-Uejbe/HOU/ECT@ECT, Berney C Aucoin/HOU/ECT@ECT 

Subject: Calpine

Ben and Jinsung,

We have not had time to pass this information by the traders.  If we resolve 
the issues regarding location, unit contingency, etc., we can get a better 
number from the traders.  For now, these are indicative prices only.  Once we 
understand the deal better, we can talk to the traders and get a firmer 
price.  Also, Jim Fallon has requested that his traders receive a term sheet 
prior to agreeing to a price.

Here is the information you requested, based on the assumptions sent in the 
e-mail below:

Further assumptions:
180 MW
Priced at PJM East hub, no cost is added for any transmission
Must be called in 16 hour blocks
Total start costs: $1200 per start ($300 per turbine)
No escalation in VOM
95% availability

3 year capacity:  $3.80 kw/mo
5 year capacity:  $3.74 kw/mo

---------------------- Forwarded by Claire Broido/HOU/ECT on 02/23/2000 12:10 
PM ---------------------------

Benjamin Rogers
02/23/2000 09:13 AM
To: Claire Broido/HOU/ECT@ECT, Jinsung Myung/Corp/Enron@Enron
cc: Thomas M Suffield/Corp/Enron@Enron 
Subject: 

Claire:
Here is the information for the Calpine project that we talked about 
yesterday and that Jim Simpson sent you the e-mail about.  

Hypothetical 4 LM 6000 Peaking Project in Eastern PJM
VOM:  $2.23
H.R. 10,5000
Gas Curve: Transco Zone 6
Power Curve: East Hub Curve in PJM
Commercial Operations Date: 6/1/01

We are looking for a 3 and 5 year capacity number ($/kw-mo.) one number for 
each time period.  Please let me know if you need any more information 
regarding the project.  Thanks for your help.
Ben