Notice to Members

Notice No. 137
03/07/2006

Intra-Commodity Margin Rates and Tier Change for Financially Settled Electricity Contracts

Effective Date: Wednesday, March 8, 2006 (close of business)

Futures Contracts:

Cinergy Hub LMP – Peak (EM), Cinergy Hub LMP – Off Peak (EJ), Northern Illinois Hub – Peak (UM), Northern Illinois Hub – Off Peak (UO), AEP-Dayton Hub – Peak (VM), AEP-Dayton Hub – Off Peak (VP), NYISO Zone A LBMP – Peak (KA), NYISO Zone G LBMP – Peak (KG), NYISO Zone J LBMP – Peak (KJ),NYISO Zone A LBMP – Off Peak (KB), NYISO Zone G LBMP – Off Peak (KH), NYISO Zone J LBMP – Off Peak (KK), New England Internal Hub – Peak (NI), New England Internal Hub – Off Peak (KI), PJM Western Hub LMP Off Peak Monthly (JP), Dow Jones South Path – 15 Index (DV), Dow Jones North Path – 15 Index (DN), Dow Jones Mid-Columbia Index (DO), and Dow Jones Palo Verde Index (DP)

Contract Months: All Months

NOTE: The revised tiers and margins are in bold

UM, VM, EM, NI, KB, KH, KK, KI, JP, UO, VP, EJ Intra-Commodity Margin Tiers

Tiers	*New*	Old
1	1st Nearby	All Months
2	2nd - 6th Nearby	N/A
3	7th - 11th Nearby	N/A
4	Greater than 11th Nearby	N/A

DO, DP, DV, DN Intra-Commodity Margin Tiers

Tiers	*New*	Old
1	1st Nearby	1st Nearby
2	2nd - 6th Nearby	2nd Nearby
3	7th - 11th Nearby	Greater than 2nd Nearby
4	Greater than 11th Nearby	N/A

KA, KG and KJ Intra-Commodity Margin Tiers

Tiers	*New*	Old
1	1st Nearby	1st Nearby
2	2nd - 6th Nearby	Greater than 1st Nearby
3	7th - 11th Nearby	N/A
4	Greater than 11th Nearby	N/A

NYMEX Division Intra-Commodity Margins for UM and UO

Tier	Clearing Member / Maintenance Margin		Member Customer Initial Margin		Non-Member Customer Initial Margin
	*New*	Old	*New*	Old	*New*	Old
Tier 1 - 1st Nearby	$500	$800	$550	$880	$675	$1,080
Tier 2 - 2nd - 6th Nearby	$100	$800	$110	$880	$135	$1,080
Tier 3 - 7th - 11th Nearby	$100	$800	$110	$880	$135	$1,080
Tier 4 - Greater than 11th Nearby	$100	$800	$110	$880	$135	$1,080

NYMEX Division Intra-Commodity Margins for VM and NI

Tier	Clearing Member / Maintenance Margin		Member Customer Initial Margin		Non-Member Customer Initial Margin
	*New*	Old	*New*	Old	*New*	Old
Tier 1 - 1st Nearby	$500	$1,000	$550	$1,100	$675	$1,350
Tier 2 - 2nd - 6th Nearby	$100	$1,000	$110	$1,100	$135	$1,350
Tier 3 - 7th - 11th Nearby	$100	$1,000	$110	$1,100	$135	$1,350
Tier 4 - Greater than 11th Nearby	$100	$1,000	$110	$1,100	$135	$1,350

NYMEX Division Intra-Commodity Margins for EM, KB, and JP

Tier	Clearing Member / Maintenance Margin		Member Customer Initial Margin		Non-Member Customer Initial Margin
	*New*	Old	*New*	Old	*New*	Old
Tier 1 - 1st Nearby	$500	$2,000	$550	$2,200	$675	$2,700
Tier 2 - 2nd - 6th Nearby	$100	$2,000	$110	$2,200	$135	$2,700
Tier 3 - 7th - 11th Nearby	$100	$2,000	$110	$2,200	$135	$2,700
Tier 4 - Greater than 11th Nearby	$100	$2,000	$110	$2,200	$135	$2,700

NYMEX Division Intra-Commodity Margins for KH, KK, KI, and EJ

Tier	Clearing Member / Maintenance Margin		Member Customer Initial Margin		Non-Member Customer Initial Margin
	*New*	Old	*New*	Old	*New*	Old
Tier 1 - 1st Nearby	$500	$1,500	$550	$1,650	$675	$2,025
Tier 2 - 2nd - 6th Nearby	$100	$1,500	$110	$1,650	$135	$2,025
Tier 3 - 7th - 11th Nearby	$100	$1,500	$110	$1,650	$135	$2,025
Tier 4 - Greater than 11th Nearby	$100	$1,500	$110	$1,650	$135	$2,025

NYMEX Division Intra-Commodity Margins for VP

Tier	Clearing Member / Maintenance Margin		Member Customer Initial Margin		Non-Member Customer Initial Margin
	*New*	Old	*New*	Old	*New*	Old
Tier 1 - 1st Nearby	$500	$1,200	$550	$1,320	$675	$1,620
Tier 2 - 2nd - 6th Nearby	$100	$1,200	$110	$1,320	$135	$1,620
Tier 3 - 7th - 11th Nearby	$100	$1,200	$110	$1,320	$135	$1,620
Tier 4 - Greater than 11th Nearby	$100	$1,200	$110	$1,320	$135	$1,620

NYMEX Division Intra-Commodity Margins for KA, KG, and KJ

Tier	Clearing Member / Maintenance Margin		Member Customer Initial Margin		Non-Member Customer Initial Margin
	*New*	Old	*New*	Old	*New*	Old
Tier 1 - 1st Nearby	$500	$500	$550	$550	$675	$675
Tier 2 - 2nd - 6th Nearby	$100	$1,500	$110	$1,650	$135	$2,025
Tier 3 - 7th - 11th Nearby	$100	$1,500	$110	$1,650	$135	$2,025
Tier 4 - Greater than 11th Nearby	$100	$1,500	$110	$1,650	$135	$2,025

NYMEX Division Intra-Commodity Margins for DO, DP, DV and DN

Tier	Clearing Member / Maintenance Margin		Member Customer Initial Margin		Non-Member Customer Initial Margin
	*New*	Old	*New*	Old	*New*	Old
Tier 1 - 1st Nearby	$500	$2,000	$550	$2,200	$675	$2,700
Tier 2 - 2nd - 6th Nearby	$100	$2,500	$110	$2,750	$135	$3,375
Tier 3 - 7th - 11th Nearby	$100	$1,500	$110	$1,650	$135	$2,025
Tier 4 - Greater than 11th Nearby	$100	$1,500	$110	$1,650	$135	$2,025

This notice supersedes all previous notices regarding margin rates and tiers for the Electricity Futures contracts listed above.

Should you have any questions or require any further information, please contact exchangeinfo@nymex.com