Bill:

We had a variance in the SAR for the West BOM Book on Friday night. It was due to a 9 mw purchase from short term cali that was used to fill the lending we have with El Paso Electric. We in a purchase from the imbalance under the WBOM Book (deal #727440), and built an annuity (deal #72741) where short term cali sold us the 9 MW @ $43.00. If this is not the correct to remedy the variance please advise me of what to do next time.

Regards,

Bert Meyers