Don,

As we discussed last Friday, I prepared some analyses as follows:

If I correctly read your idea, ENA would sell to an IPP a combination of EES
short position and peaking turbines.
ENA would make money from;
1. spread between buying power from the IPP and selling it to EES at premium
2. fees from EES or/and IPP for providing/arranging capacity/off-taker
3. better project financing by leveraging up more and having lower debt
cost, which would be possible by having off-taker (EES)

Regarding our starting point of NY East, EES has short position ranging from
0 MW to 126 MW in NY East region for next 11 years. I attached Excel file
which shows an analysis of NY East including load graph.
To read EES data correctly, see the below definition.
- WD: weekdays, WE: weekends.
- Each 4 hour block number shows average load for 4 hour block, so actual
peak load is higher than that.

Please correct me, if I am wrong. See you at 4:00. Thank you.

Jinsung
(Ext: 37330)