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Drew, here's my first stab at a rehearing argument. I did not go as far as I could have because I really think we should argue that there should be no limitation at all and that TW should be able to decide for itself what capacity it can sell as firm. Instead, I've proposed a solution that will be less controversial, as we discussed earlier this week. If you think this passes the laugh test I can do some rewriting and circulate it. My biggest concern is portraying PNM's capacity as "firm" or "interruptible" since PNM does not use that terminology, in its tariff or otherwise, except to assure us over the phone that it is firm! I'd like to check to see if PNM is comfortable with all this before we file anything. Call when you can; this is not due 'til Oct. 15.

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PNM