Utility Counterparty List

At the request of Sara Shackleton, I am attaching my list of North America
"utility" counterparties. My given task when I compiled this list was to
identify "utilities" and determine if there was a reason we should not
approve online trading for the counterparty. We originally denied approval
for all utilities unless we had a Master Agreement in place or an overriding
commercial reason to transact. We are now taking the position that investor
owned utilities (IOUs) and related corporate entities should be approved for
trading. However, we will not approve online trading for governmentals or
cooperatives when we do not have a master in place, so those counterparties
identified as such do not need to be included in your review. Obviously, if
you are aware of a municipal or cooperative I failed to detect, please let us
know. In addition, your review does not need to extend to the Canadian
counterparties. We will run those by Canadian counsel.

Please review the list to help us identify the IOUs. You may ignore the
"Approved for Trading" column.

For your information, the list was compiled from information provided from
our Credit Department, from the Company's financial statements which I
obtained from EDGAR, from the Company's web site, from
www.utilityconnection.com, or from web searches of the Company when I could
not locate information from any of the other sources.

Please give us a call tomorrow to discuss briefly.