Spreadsheet: mark_whitt__25301__Book1
Sheet: 10-9-01

60% SJ/40% Perm |  |  | 6-5-01 Curves
Start | End | Year | PV Volume |  | PV Rec Price | PV Del Price | PV Spread | [NAME] | Value Over Tolls |  | Yearly Value |  | Cumulative Value
2001-07-01 00:00:00 | 2001-12-31 00:00:00 | 2001 | 41105262.77830882 |  |  |  | 1.862370704581388 | 0.5292416779920284 | 1.33312902658936 |  | 54798618.95534668 |  | 54798618.95534668
2002-01-01 00:00:00 | 2002-12-31 00:00:00 | 2002 | 78921002.98984492 |  |  |  | 1.13741991662453 | 0.5275331820234525 | 0.6098867346010777 |  | 48132872.80491841 |  | 102931491.7602651
2003-01-01 00:00:00 | 2003-12-31 00:00:00 | 2003 | 74842910.30793871 |  |  |  | 0.4222058982863064 | 0.5251746284956142 | -0.1029687302093078 |  | -7706479.43957756 |  | 95225012.32068752
2004-01-01 00:00:00 | 2004-12-31 00:00:00 | 2004 | 70697079.95636024 |  |  |  | 0.4113299560333242 | 0.4641719436640607 | -0.05284198763073661 |  | -3735774.224583185 |  | 91489238.09610434
2005-01-01 00:00:00 | 2005-12-31 00:00:00 | 2005 | 66249684.3681384 |  |  |  | 0.4283602121923456 | 0.4654190812708699 | -0.0370588690785242 |  | -2455138.379492392 |  | 89034099.71661195
2006-01-01 00:00:00 | 2006-05-31 00:00:00 | 2006 | 26193321.54645195 |  |  |  | 0.4149721338914635 | 0.4671202671044102 | -0.05214813321294673 |  | -1365932.821293924 |  | 87668166.89531803
 |  |  |  |  |  |  |  |  |  |  | 87668166.89531803
50% SJ/50% Perm |  |  | 6-5-01 Curves
Start | End | Year | PV Volume |  | PV Rec Price | PV Del Price | PV Spread | [NAME] | Value Over Tolls |  | Yearly Value |  | Cumulative Value
2001-07-01 00:00:00 | 2001-12-31 00:00:00 | 2001 | 41105262.77830882 |  |  |  | 1.812343928636992 | 0.5327164025305678 | 1.279627526106424 |  | 52599425.71896178 |  | 52599425.71896178 |  | -1
2002-01-01 00:00:00 | 2002-12-31 00:00:00 | 2002 | 78921002.98984492 |  |  |  | 1.108158165483514 | 0.5302614584518941 | 0.5778967070316198 |  | 45608187.743464 |  | 98207613.46242577
2003-01-01 00:00:00 | 2003-12-31 00:00:00 | 2003 | 74842910.30793871 |  |  |  | 0.4044053605361577 | 0.5274909044012516 | -0.1230855438650939 |  | -9212080.319699077 |  | 88995533.14272669
2004-01-01 00:00:00 | 2004-12-31 00:00:00 | 2004 | 70697079.95636022 |  |  |  | 0.4004807400160842 | 0.466238337808451 | -0.06575759779236662 |  | -4648870.14886512 |  | 84346662.99386157
2005-01-01 00:00:00 | 2005-12-31 00:00:00 | 2005 | 66249684.36813841 |  |  |  | 0.4183590020447076 | 0.4674549918312184 | -0.0490959897865109 |  | -3252593.827097694 |  | 81094069.16676387
2006-01-01 00:00:00 | 2006-05-31 00:00:00 | 2006 | 26193321.54645195 |  |  |  | 0.4049709237438255 | 0.469156177664759 | -0.06418525392093345 |  | -1681224.994491676 |  | 79412844.17227219
ENRON EL PASO RECALLABLE PG&E CAPACITY VALUATION SCENARIOS: CAPACITY PER DAY = 30,000 |  |  |  |  |  |  |  |  |  |  |  | CONFIDENTIAL
BOOK VALUE
50% Perm/50% SJ |  |  | 10-09-01 Mid Curves
 |  |  |  |  | Swap Prices (Mid to Mid)
Start | End | Year | PV Volume |  | Rec B & I | Del B & I | Spread | Tolls (including fuel) | MTM vs. Tolls |  | MTM $[NAME] (by year) | Delta | Cumulative Dollars
2001-11-01 00:00:00 | 2006-05-31 00:00:00 | 2001 - 2006 | 46105559.12020943 |  | -0.1772439360581336 | 0.1559138731201794 | 0.3331578091783131 | -0.4699537844860141 | -0.136795975307701 |  | -6307054.92695592 | #REF! | -6307054.92695592
2001-11-01 00:00:00 | 2001-12-31 00:00:00 | 2001 | 1825099.650575431 |  | -0.2694427777554829 | -0.07400084287190026 | 0.1954419348835826 | -0.4768065467651106 | -0.2813646118815279 |  | -513518.4548292683 | -4788223.894122839 | -513518.4548292683
2002-01-01 00:00:00 | 2002-12-31 00:00:00 | 2002 | 10765331.58253108 |  | -0.2316029238578383 | -0.09725625205441263 | 0.1343466718034256 | -0.4891061182139999 | -0.3547594464105743 |  | -3819103.072644997 | #REF! | -4332621.527474266
2003-01-01 00:00:00 | 2003-12-31 00:00:00 | 2003 | 10411750.12943503 |  | -0.1829804532892761 | 0.1699615310806387 | 0.3529419843699148 | -0.5017455233732458 | -0.1488035390033311 |  | -1549305.266478323 | #REF! | -5881926.793952588
2004-01-01 00:00:00 | 2004-12-31 00:00:00 | 2004 | 9958761.737204457 |  | -0.1532645246802361 | 0.2730252171830947 | 0.4262897418633309 | -0.4434282420686578 | -0.01713850020532692 |  | -170678.2400778805 | -4462805.266019627 | -6052605.034030468
2005-01-01 00:00:00 | 2005-12-31 00:00:00 | 2005 | 9406680.76095282 |  | -0.1383148025502844 | 0.2958499074751976 | 0.434164710025482 | -0.4470056499384 | -0.01284093991291796 |  | -120790.6224313965 | -4414371.08871602 | -6173395.656461865
2006-01-01 00:00:00 | 2006-05-31 00:00:00 | 2006 | 3737935.259510599 |  | -0.1215467139903437 | 0.2940113246037197 | 0.4155580385940634 | -0.4513155520913812 | -0.03575751349731782 |  | -133659.2704940504 | #REF! | -6307054.926955915
 |  |  |  |  |  |  |  |  |  |  | Previous day |  | -5762201.736010159
 |  |  |  |  |  |  |  |  |  |  | Curve Shift |  | -544853.1909457557