Power Swaps

The terms and conditions of the swaps incorporate by reference such credit and other terms as the parties may establish through their pre-existing bilateral agreement. The swaps have the following characteristics:

Contract Overview:	An agreement to exchange cash flows based on the difference between the fixed price agreed by the parties and the price of electricity or the peak load for a system as determined by the relevant system operator on the specified determination date.
Trade Date:	As determined by the parties.
Effective Date:	The date on which the parties begin calculating their accrued obligations under the swap.
Termination Date:	As determined by the parties.
Buyer:	Party [A/B]
Seller:	Party [A/B]
Transaction Type:	[fixed/floating swap] [peak load swap]
Delivery Point:	[zone] [node] [hub] specified by the parties.
Fixed Price:	As determined by the parties.
Quantity:	[      ] MWhs
Floating Price:	The [price] [peak load] for the applicable delivery point as determined by the relevant system operator.
Determination Period:	Effective Date through Termination Date.
Payment Date:	As determined by the parties.