QUESTION: Our mid year PRC meeting will be held Monday, June 19, at the Doubletree's Grainger "B" room. Please plan to be there to start the meeting at 8:00 AM, with a continental breakfast available starting at 7:30. We will take the time necessary to do a good job, but will also try to be time efficient. Patti has lunch and snacks ordered, so I would hope to be finished sometime in the afternoon. I am broadening the Energy Operations PRC committee beyond my direct reports to also include all directors in the organization. I look forward to everyone's participation and will be sending out more information later. Included below are the attendees for the meeting. PRC Attendees Energy Operations HR Outside Kristin Albrecht Sheila Walton Wes Colwell - Business Analysis & Reporting Scott Earnest Norma Villarreal David Oxley - Human Resources Sheila Glover Hector McLoughlin Jim Bouillion - Global Risk Markets (Insurance) Todd Hall Toni Graham Brad Blesie - Global Risk Markets (Origination) Susan Harrison Janet De La Paz (to run computer) Peggy Hedstrom Brenda Herod Steve Jackson Scott Mills Mike Moscoso Eugenio Perez Brent Price Leslie Reeves Stephen Schwarz James Scribner Mary Solmonson Bob Superty Sheri Thomas Steve Venturatos
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ANS: Mid Year Energy Operations PRC Meeting

QUESTION: The Emmisions book under Kevin McGowan will take a one time $4 Million hit today. This is to move the curves to better reflect the current market. This hit will stay in the Coal group but will be removed from its P/L from a performance measurement standpoint. Now that the curves are corrected I expect a focus on building our emmisions trading business in the following ways: 1. Understanding the fundamentals. 2. Taking advantage of structural shifts that we forecast. 3. Building more liquidity and being the primary market maker. 4. Developing new traders. Thanks
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ANS: Emmisions

QUESTION: Victor, As discussed, we need to engineer a tie-in to Peerless so that we have a way to periodically turnover (by selling) our fuel oil inventory to before it goes bad. James McMillan will forward to you a scope of work and cost for an engineer to go to site to develop the tie-in design. This cost should be between $5 and 10K. Once finalized, please issue an Eco PO to perform this work. Rick
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Fuel Oil Tie-in to Peerless