The soft price cap

Yesterday, we (Tim Belden, Greg Wolfe, Steve Hall , John Forney, and a new
regulatory person whose name I apologize for not remembering) had a meeting
to decide what practical legal steps we should take to mitigate any refund
risk, particularly the risk of selling power above the price cap. The result
of the meeting was a decision to (i) attempt on a case by case basis to get
our services customers to acknowledge, in writing, terms of allocating at
least some of the responsibility for price refunds, and (ii) create a way
to document our cost justification where we sell above the cap, which will
allow us to begin making the requisite filings to the FERC in January.

If you see any compelling, big picture reason(s) for concern with the
notion of selling above the cap, please communicate it to us. ---cgy