Entergy Louisiana, LLC Management's Financial Discussion and Analysis 298 2007 Compared to 2006 Net revenue consists of operating revenues net of: 1) fuel, fuel-related expenses, and gas purchased for resale, 2) purchased power expenses, and 3) other regulatory charges (credits).
Following is an analysis of the change in net revenue comparing 2007 to 2006.
## Table 0 ##
The base revenues variance is primarily due to increases effective September 2006 for the 2005 formula rate plan filing to recover LPSC-approved incremental deferred and ongoing capacity costs.
See "State and Local Rate Regulation" below and Note 2 to the financial statements for a discussion of the formula rate plan filing.
The volume/weather variance is due to increased electricity usage, including electricity sales during the unbilled service period.
Billed retail electricity usage increased a total of 666 GWh in all sectors compared to 2006.
See "Critical Accounting Estimates" below and Note 1 to the financial statements for further discussion of the accounting for unbilled revenues.
The transmission revenue variance is primarily due to higher rates.
The purchased power capacity variance is primarily due to higher purchased power capacity charges and the amortization of capacity charges effective September 2006 as a result of the formula rate plan filing in May 2006.
A portion of the purchased power capacity costs is offset in base revenues due to a base rate increase implemented to recover incremental deferred and ongoing purchased power capacity charges, as mentioned above.
See "State and Local Rate Regulation" below and Note 2 to the financial statements for a discussion of the formula rate plan filing.
Gross operating revenues, fuel, purchased power expenses, and other regulatory charges (credits) Gross operating revenues increased primarily due to: x an increase of $143.1 million in fuel cost recovery revenues due to higher fuel rates and usage; x an increase of $78.4 million in base revenues, as discussed above; and x an increase of $37.5 million related to volume/weather, as discussed above.
Fuel and purchased power expenses increased primarily due to an increase in net area demand and an increase in deferred fuel expense as a result of higher fuel rates, as discussed above.
Other regulatory credits decreased primarily due to the deferral of capacity charges in 2006 in addition to the amortization of these capacity charges in 2007 as a result of the May 2006 formula rate plan filing (for the 2005 test year) with the LPSC to recover such costs through base rates effective September 2006.
See Note 2 to the financial statements for a discussion of the formula rate plan and storm cost recovery filings with the LPSC.
Management’s discussion and analysis compared with $57 million for 2009.
Decreases in CIO and Mortgage Banking VaR for 2010 were again driven by the decline in market volatility and position changes.
The decline in Mortgage Banking VaR at December 31, 2010, reflects management’s decision to reduce risk given market volatility at the time.
The Firm’s average IB and other VaR diversification benefit was $59 million or 37% of the sum for 2010, compared with $82 million or 28% of the sum for 2009.
The Firm experienced an increase in the diversification benefit in 2010 as positions changed and correlations decreased.
In general, over the course of the year, VaR exposure can vary significantly as positions change, market volatility fluctuates and diversification benefits change.
VaR back-testing The Firm conducts daily back-testing of VaR against its market riskrelated revenue, which is defined as the change in value of: principal transactions revenue for IB and CIO (less Private Equity gains/losses and revenue from longer-term CIO investments); trading-related net interest income for IB, CIO and Mortgage Banking; IB brokerage commissions, underwriting fees or other revenue; revenue from syndicated lending facilities that the Firm intends to distribute; and mortgage fees and related income for the Firm’s mortgage pipeline and warehouse loans, MSRs, and all related hedges.
Daily firmwide market risk–related revenue excludes gains and losses from DVA.
The following histogram illustrates the daily market risk–related gains and losses for IB, CIO and Mortgage Banking positions for 2010.
The chart shows that the Firm posted market risk–related gains on 248 out of 261 days in this period, with 12 days exceeding $210 million.
The inset graph looks at those days on which the Firm experienced losses and depicts the amount by which the 95% confidence-level VaR exceeded the actual loss on each of those days.
During 2010, losses were sustained on 13 days, none of which exceeded the VaR measure.
## Table 1 ##
The following table provides information about the gross sensitivity of DVA to a one-basis-point increase in JPMorgan Chase’s credit spreads.
This sensitivity represents the impact from a one-basis-point parallel shift in JPMorgan Chase’s entire credit curve.
As credit curves do not typically move in a parallel fashion, the sensitivity multiplied by the change in spreads at a single maturity point may not be representative of the actual revenue recognized.
Notes to consolidated financial statements JPMorgan Chase & Co. /2010 Annual Report 270 Note 26 – Accumulated other comprehensive income/(loss) Accumulated other comprehensive income/(loss) includes the after-tax change in unrealized gains/(losses) on AFS securities, foreign currency translation adjustments (including the impact of related derivatives), cash flow hedging activities and net loss and prior service costs/(credit) related to the Firm’s defined benefit pension and OPEB plans.
## Table 2 ##
(a) Reflects the effect of adoption of accounting guidance related to the consolidation of VIEs, and to embedded credit derivatives in beneficial interests in securitized financial assets.
AOCI decreased by $129 million due to the adoption of the accounting guidance related to VIEs as a result of the reversal of the fair value adjustments taken on retained AFS securities that were eliminated in consolidation; for further discussion see Note 16 on pages 244–259 of this Annual Report.
AOCI decreased by $15 million due to the adoption of the new guidance related to credit derivatives embedded in certain of the Firm’s AFS securities; for further discussion, see Note 6 on pages 191–199 of this Annual Report.
(b) Represents the after-tax difference between the fair value and amortized cost of the AFS securities portfolio and retained interests in securitizations recorded in other assets.
(c) The net change during 2008 was due primarily to spread widening related to credit card asset-backed securities, nonagency MBS and collateralized loan obligations.
(d) The net change during 2009 was due primarily to overall market spread and market liquidity improvement as well as changes in the composition of investments.
(e) Includes after-tax unrealized losses of $(81) million and $(226) million not related to credit on debt securities for which credit losses have been recognized in income at December 31, 2010 and 2009, respectively.
(f) The net change during 2010 was due primarily to the narrowing of spreads on commercial and nonagency MBS as well as on collateralized loan obligations; also reflects increased market value on pass-through MBS due to narrowing of spreads and other market factors.
The following table presents the before- and after-tax changes in net unrealized gains/(losses); reclassification adjustments for realized (gains)/losses on AFS securities and cash flow hedges; changes resulting from foreign currency translation adjustments (including the impact of related derivatives); net gains/(losses) and prior service costs/(credits) from pension and OPEB plans; and amortization of pension and OPEB amounts into net income.
Reclassification adjustments include amounts recognized in net income that had been recorded previously in other comprehensive income/(loss).
## Table 3 ##

<table><tr><td></td><td>Amount (In Millions)</td></tr><tr><td>2006 net revenue</td><td>$942.1</td></tr><tr><td>Base revenues</td><td>78.4</td></tr><tr><td>Volume/weather</td><td>37.5</td></tr><tr><td>Transmission revenue</td><td>9.2</td></tr><tr><td>Purchased power capacity</td><td>-80.0</td></tr><tr><td>Other</td><td>3.9</td></tr><tr><td>2007 net revenue</td><td>$991.1</td></tr></table>
<table><tr><td> Rating equivalent</td><td colspan="2">2010</td><td colspan="2">2009</td></tr><tr><td>December 31,</td><td rowspan="2">Exposure net of of all collateral</td><td rowspan="2">% of exposure net of all collateral</td><td rowspan="2">Exposure net of of all collateral</td><td rowspan="2">% of exposure net of all collateral</td></tr><tr><td>(in millions, except ratios)</td></tr><tr><td>AAA/Aaa to AA-/Aa3</td><td>$23,342</td><td>36%</td><td>$25,530</td><td>40%</td></tr><tr><td>A+/A1 to A-/A3</td><td>15,812</td><td>25</td><td>12,432</td><td>19</td></tr><tr><td>BBB+/Baa1 to BBB-/Baa3</td><td>8,403</td><td>13</td><td>9,343</td><td>14</td></tr><tr><td>BB+/Ba1 to B-/B3</td><td>13,716</td><td>22</td><td>14,571</td><td>23</td></tr><tr><td>CCC+/Caa1 and below</td><td>2,722</td><td>4</td><td>2,815</td><td>4</td></tr><tr><td> Total</td><td>$63,995</td><td>100%</td><td>$64,691</td><td>100%</td></tr></table>
<table><tr><td>As of or for the year ended</td><td rowspan="2">Unrealized gains/(losses) on AFS securities<sup>(b)</sup></td><td rowspan="2">Translation adjustments, net of hedges</td><td></td><td rowspan="2">Net loss and prior service costs/(credit) of defined benefit pension and OPEB plans</td><td rowspan="2">Accumulated other comprehensive income/(loss)</td></tr><tr><td>December 31, (in millions)</td><td>Cash flow hedges</td></tr><tr><td>Balance at December 31, 2007</td><td>$380</td><td>$8</td><td>$-802</td><td>$-503</td><td>$-917</td></tr><tr><td>Net change</td><td>-2,481 (c)</td><td>-606</td><td>600</td><td>-2,283</td><td>-4,770</td></tr><tr><td>Balance at December 31, 2008</td><td>-2,101</td><td>-598</td><td>-202</td><td>-2,786</td><td>-5,687</td></tr><tr><td>Net change</td><td>4,133(d)</td><td>582</td><td>383</td><td>498</td><td>5,596</td></tr><tr><td>Balance at December 31, 2009</td><td>2,032(e)</td><td>-16</td><td>181</td><td>-2,288</td><td>-91</td></tr><tr><td>Cumulative effect of changes in accounting principles<sup>(a)</sup></td><td>-144</td><td>—</td><td>—</td><td>—</td><td>-144</td></tr><tr><td> Netchange</td><td>610(f)</td><td>269</td><td>25</td><td>332</td><td>1,236</td></tr><tr><td> Balance at December 31, 2010</td><td>$2,498(e)</td><td>$253</td><td>$206</td><td>$-1,956</td><td>$1,001</td></tr></table>
<table><tr><td></td><td colspan="3"> 2010</td><td colspan="3">2009</td><td colspan="3">2008</td></tr><tr><td>Year ended December 31, (in millions)</td><td>Before tax</td><td>Tax effect</td><td>After tax</td><td>Before tax</td><td>Tax effect</td><td>After tax</td><td>Before tax</td><td>Tax effect</td><td>After tax</td></tr><tr><td> Unrealized gains/(losses) on AFS securities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Net unrealized gains/(losses) arising during the period</td><td>$3,982</td><td>$-1,540</td><td>$2,442</td><td>$7,870</td><td>$-3,029</td><td>$4,841</td><td>$-3,071</td><td>$1,171</td><td>$-1,900</td></tr><tr><td>Reclassification adjustment for realized (gains)/losses included innet income</td><td>-2,982</td><td>1,150</td><td>-1,832</td><td>-1,152</td><td>444</td><td>-708</td><td>-965</td><td>384</td><td>-581</td></tr><tr><td> Net change</td><td>1,000</td><td>-390</td><td>610</td><td>6,718</td><td>-2,585</td><td>4,133</td><td>-4,036</td><td>1,555</td><td>-2,481</td></tr><tr><td> Translation adjustments:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Translation</td><td>402</td><td>-139</td><td>263</td><td>1,139</td><td>-398</td><td>741</td><td>-1,781</td><td>682</td><td>-1,099</td></tr><tr><td>Hedges</td><td>11</td><td>-5</td><td>6</td><td>-259</td><td>100</td><td>-159</td><td>820</td><td>-327</td><td>493</td></tr><tr><td> Net change</td><td>413</td><td>-144</td><td>269</td><td>880</td><td>-298</td><td>582</td><td>-961</td><td>355</td><td>-606</td></tr><tr><td> Cash flow hedges:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Net unrealized gains/(losses) arising during the period</td><td>247</td><td>-96</td><td>151</td><td>767</td><td>-308</td><td>459</td><td>584</td><td>-226</td><td>358</td></tr><tr><td>Reclassification adjustment for realized (gains)/losses</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>included in net income</td><td>-206</td><td>80</td><td>-126</td><td>-124</td><td>48</td><td>-76</td><td>402</td><td>-160</td><td>242</td></tr><tr><td> Net change</td><td>41</td><td>-16</td><td>25</td><td>643</td><td>-260</td><td>383</td><td>986</td><td>-386</td><td>600</td></tr><tr><td> Net loss and prior service cost/(credit) of defined benefit pensionand OPEB plans:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Net gains/(losses) and prior service credits arising during the period</td><td>294</td><td>-96</td><td>198</td><td>494</td><td>-200</td><td>294</td><td>-3,579</td><td>1,289</td><td>-2,290</td></tr><tr><td>Reclassification adjustment for net loss and priorservice credits included in net income</td><td>224</td><td>-90</td><td>134</td><td>337</td><td>-133</td><td>204</td><td>14</td><td>-7</td><td>7</td></tr><tr><td> Net change</td><td>518</td><td>-186</td><td>332</td><td>831</td><td>-333</td><td>498</td><td>-3,565</td><td>1,282</td><td>-2,283</td></tr><tr><td> Totalother comprehensive income/(loss)</td><td>$1,972</td><td>$-736</td><td>$1,236</td><td>$9,072</td><td>$-3,476</td><td>$5,596</td><td>$-7,576</td><td>$2,806</td><td>$-4,770</td></tr></table>

Question: what percent of the net change in revenue between 2007 and 2008 was due to volume/weather?
Answer: 0.76531