Comed Heat Rate Options

Harry,

I spoke with Greg Manako with Exelon last week when you were on vacation. He had the following comments regarding the HR options you were hearing about in the market place:

1. They are not sure of their long term perspective. Thus, they are focusing on structures that are three years and less.

2. They are interested in June-September only

3. They are flexible on the size of the transaction (100-500 MW?)

4. They want to buy a 10-11 HR and sell a 6-7 HR.

5. They would like a financially settled transaction.

6. They would love hourly (virtual peaker) but would settle for daily.

Please let me know your level of interest. I would like to get something back to them just to start discussions.

In addition, I am ready to give MidAmerican Energy some indicative numbers whenever you get them.

Thanks,
Terri