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Pub Exchange

VIEWS: 27 PAGES: 743

  • pg 1
									COPY OF NOTE TAB FROM $RAM007FP AS OF 5/03/2007. pab

Questions and Anwsers:
  1 Q Since the 2200 aMW in benefits are defined as not being a load, is it eligible for the C&RD? Currently, the costs are in the RR and the benefit amount is calculated with the full flat PF rate.
    A It is available for C&RD.
  2 Q The settlement agreement concerning rate design will impact the manner in which monthly HLH and LLH energy charges, demand, and load variance charges are calculated. Is it true that
      these changes will not change the calculation of the average annual PF rates or flat rates that are displayed on the Rev Check TAB, Start Here Tab and other tabs? The rate design
      changes will not impact other tabs or other calculations that the model needs to perform?
  3 Q Adjustments to Program Case Resources for contracts entered into after 1980 to increase the amount of FBS available to serve the 7(b)(2) case. Where are these adjustments made?
      For the contracts that are assumed to not exist in the 7(b)(2) case where are the adjustments (subtractions to FPS sales) to reduce this revenue available to the 7(b)(2) case?
    A These reveues are forcasted on the Adjust 1 tab for each respective case. Per my review with WJD it appears that we need better documentation of the "other obligations' on the FBS for each
      of the respective cases. Sent an email to Janet Klippstein and Spencer Wedlund on 5/08 asking for help documenting the "other obligation sales."

Questions about "Adjust 1" tab:
  4 Q Will the current YES value in cell D1 change for the final? (References the "Rev_Sim" TAB)
    A No change in the YES value is anticipated.
  5 The following descriptions/rows on the TAB have "hard" values: Will these numbers change for the final and who provides the data? In what study are these numbers documented?
a Q Forecast of secondary sales (aMW), Row 5, current value 1720 for all years.           A- Will change to reflect Arnolds new value in REVSIM file.
b      Under Revenue Credits, COE & USBR Project Revenues , Row 24, current value 3600 for all years.               Will check with Spenser and Carrie Lee for updated values. Email sent 05/08/06.
c      Under Revenue Credits, Colville Credit , Row 26, current value 4600 for all years.                           Will check with Spenser and Carrie Lee for updated values. Email sent 05/08/06.
d      Under Revenue Credits, Supp/Ent. Cap Irr Pumping , Row 28, current value 5321 for all years.                 Will check with Spenser and Carrie Lee for updated values. Email sent 05/08/06.

  6 The following descriptions/rows on the TAB are "linked" values obtained from the referenced files: Who provides the data? In what study are these numbers documented?
f      4(h)(10)(C ), Row 25, references a file that was in the IP2007 sub directory of the same name.                             A - Supplied by Arnold Wagner
g      Ancillary and Reserve Service Revs, Row 31, $2007 RAM\IP2007\[WP-07 APS_RES_FY07-09_092705.xls]FY07-09 Annual'!$H$26/1000
h      Expected Revenue from FPS contract sales, Row 53, $2007 RAM\IP2007\[Revenue_forecast_stepped_fps through 2011.xls]Revenue_forecast_stepped_fps th'!C48/1000
i      FPS Pre-Sub Contract Revenue, Row 54, $2007 RAM\IP2007\[Revenue_forecast_stepped_fps through 2011.xls]Revenue_forecast_stepped_fps th'!C46/1000

Questions about "INPUT" tab:
 7     Cell B1 titles this the SUPPRAM INPUTS, below that cell it indicates; Routing: MPPD, 10/27/2003 9:01:00 AM, Is this reference still valid? NO - reference removed.
 8 a Rows 8-20, Levelized Marginal Cost of Power, Do these rows need to be updated given the settlement agreement on rate design? See question 2 above. Answer - NO

  9 Q Does cell C24, dealing with the IP/PF link get updated for the final?                                            9A - No change for the Final.




  D:\Docstoc\Working\pdf\fecdeba0-4783-4e06-961e-50c9835395d4.xlsNotes                                                                                                                         05/05/06
Questions about the Initial Allocation Tab
10 Q In addition to the changes to LDD line 37, and IRM line 40, are there any changes or other inputs to this TAB?
10 A No other changes.

Questions about PF Preference Tab
11 Q Is all of the new load forcase information provided by Jon Hirsch limited to this worksheet, or is some of the information entered into other worksheets?
11 A It is limited to this worksheet.

Questions about PF Exchange Tab
12 Q Where does the information come from in the orange colored cells? (C8: DR11)
12 A This is a "fixed shape" of exchange loads for purposes of shaping the actual loads which come from the Pub. Exchange Tab.



Worksheets In the Model That DO NOT Receive any Direct Data Input Changes:
     REV Check, Start Here, IOU Sub Benefits, Trigger Calc, Rev Req, Initial Rates, Allocation Summary, IP_PF_Link, Rates After Link, 7b2 Allocation, Rates After 7b2, IP_PF_Link (2),
     IP_PF_Link (2), Rates After IP_PF2, Rates with IOU Settlement, Rates After Slice,




To Do List for Updating 2007FP for Updated Information:
                                                                                                                    Date
                   Description of Information Needed                 Name of Providor        Primary Tab Location Completed                                      Comments:
 1     Update the resource stack for revised resources and costs.    P. Brodie               7b2 Resource Sort     4/15/2006

 2     Updated the amount of conservation/billing credit resources   P. Brodie               7b2 Con Load               4/15/2006
       that make up the load / resource balance delta between
       Program Case and 7(b)(2) Case.

 3     Input the new load forecast.                                  Jon Hirsch x4732        PF Preference               5/5/2006 WJD completed. File Located P Public Drive/$2007 RAM/ FP2007
                                                                                                                                  file name = 2007_FinalLoads.xls

 4     Program Case COSA                                             Ron Homenick x7494 Program Case COSA

 5     7(b)(2) Case COSA                                             Ron Homenick x7494 7b2 Case COSA


  D:\Docstoc\Working\pdf\fecdeba0-4783-4e06-961e-50c9835395d4.xlsNotes                                                                                                               05/05/06
D:\Docstoc\Working\pdf\fecdeba0-4783-4e06-961e-50c9835395d4.xlsNotes   05/05/06
 6   IOU REP Settlement Prices for 2007-2009                        Rob Petty x5457     IOU_Sub_Benefits        5/5/2006 Source: Final Price Forecast_5xls located P-Public Drive
                                                                                                                         /$2007 RAM/ FP2007

 7   Market Price Forecast                                          Rob Petty x5457     Price Forecast          5/5/2006 PAB completed, same as 6 for the final.

 8   Levelized Marginal Cost of Power / Rate Design                 Gery Bolden x5267   INPUT                   5/5/2006 Input initial vlues from Gery. Will check back before iteration with Arnold.

 9   New Rev Sim tab information                                    Arnold Wagner       Rev Sim                           On the Adjust 1 tab in row 8, "Forecast of Secondary Price Ratio"
                                                                                                                          is at 75% due to timing /availability, check with New Rev Sim
                                                                                                                          TAB to make sure that this assumption is still valid.
                                                                                                                          Update the Adjust 1 tab as necessary.

10   New 4(h)(10)(C ) revenue credits.                              Spencer Wedlund     Adjust 1 Tab            5/9/2006 Updated all revenue Credits on this TAB. PAB
     Other Revenue credits                                          Spencer Wedlund     Adjust 1 Tab            5/9/2006 Updated all revenue Credits on this TAB. PAB


11   Revised REP loads and ASCs                                     Paul McClain        Pub Exchange

12   Updated values for LDD expense and IRMP expense.               Jon Hirsch          Initial Allocation     5/4/2006 Jon H. provided new data via email, input values directly in cells for
                                                                                                                        annual values, rows 37 and 40 of this worksheet.
13   Margin Study - Per conversation with Diane Cherry on 05/05/06 no changes from the IP.                   NA

14   Gas Price Forecast - Does this get input into the model?      Rob Petty x5457                           NA           This information is not entered into RAM.
     If so, where? Or is it information that only paul McClain needs?

15   There were changes from the initial proposal on the costs of   Sarah Bermejo x3917 Adjust 1 Tab            5/9/2006 Updated these revenue Credits. PAB
     reactive power (revenues from TBL) and ancillary services.                                                          Need to iterate with Sarah as the rates change.
     Where do those changes get reflected? Rev. Req??




     Changes made may 23rd.
     Replace "Slice Cost" tab with "slice pro forma" tab


 D:\Docstoc\Working\pdf\fecdeba0-4783-4e06-961e-50c9835395d4.xlsNotes                                                                                                               05/05/06
    new slice format is used
    minimum required net revenue expense is added
    links between the "Slice Cost" tab and the "Program COSA", "Rev Req", "Adjust1", and "Rev Check" tabs have been replaced with links to the "Slice Pro Forma" tab

    Changes made May 23rd to model version 052406:
    Revised forecast of ancillary credits in INPUT Tab based on 05/23/06 email form Sarah Bermejo.
    Revised Program Case Cosa and 7(b)(2) Case Cosa inputs for Ron Homenick's $50 million of PNRR revision.

    Changes made May 30
    Demand Charges in tab "INPUT" set to the PF Preference Compromise values, row 17.
    Demand Charges in Rate Summary tabs at the end of the model are set to equal those in the PF Preference summary tab.
    Saved as Model version 053006

    Changes made June 8 to tab "RDS 05" See comments in cells

    Changes made June 21 to tab "RAM IP" and "RAM NR" use NERC hlh and llh definitions
    Copy Past Special Values demand values from tab "PF 2007_09" to tab "INPUT" note:this should be done late in the analysis to ensure common demand values in each rate pool.




D:\Docstoc\Working\pdf\fecdeba0-4783-4e06-961e-50c9835395d4.xlsNotes                                                                                                              05/05/06
D:\Docstoc\Working\pdf\fecdeba0-4783-4e06-961e-50c9835395d4.xlsNotes   05/05/06
D:\Docstoc\Working\pdf\fecdeba0-4783-4e06-961e-50c9835395d4.xlsNotes   05/05/06
D:\Docstoc\Working\pdf\fecdeba0-4783-4e06-961e-50c9835395d4.xlsNotes   05/05/06
                    Input initial vlues from Gery. Will check back before iteration with Arnold.




D:\Docstoc\Working\pdf\fecdeba0-4783-4e06-961e-50c9835395d4.xlsNotes                               05/05/06
            Before 7b2 Revenue Requirements                         FY 2007            FY 2008           FY 2009           FY 2010           FY 2011           FY 2012           FY 2013           FY 2014
                                                      FBS      $       1,799,137   $     1,728,086   $     1,864,068   $     1,956,547   $     2,192,604   $     2,088,425   $     2,226,363   $     2,182,140
                                                       NR      $          60,853   $        67,225   $        82,008   $        79,964   $        82,187   $       112,616   $       113,875   $        14,387
                                           Gross Exchange      $       1,616,095   $     1,633,054   $     1,802,452   $     1,799,527   $     1,830,402   $     1,848,282   $     1,872,757   $     1,902,141
                                              conservation     $         180,243   $       174,148   $       152,488   $       175,014   $       184,319   $       174,523   $       185,094   $        87,532
                                            BPA programs       $         353,568   $       356,283   $       348,268   $       378,223   $       384,409   $       389,970   $       392,721   $       383,230

              IOU Benefit Delta due to 7b2                     $            -      $           -     $           -     $           -     $           -     $           -     $           -     $              -
Transmission to Deliver Exchange power                         $        150,528    $       152,361   $       151,134   $       152,475   $       154,195   $       155,525   $       157,130   $          158,309

                                                      Sub total $      4,160,424   $     4,111,158   $     4,400,418   $     4,541,749   $     4,828,116   $     4,769,340   $     4,947,941   $     4,727,739

                 Low Density Discount and IRMP Expense $                 32,289    $        32,612   $        36,896   $        36,896   $        36,896   $        36,896   $        36,896   $           36,896

               Annual Revenue Requirement Grand Total $                4,192,713   $     4,143,770   $     4,437,314   $     4,578,645   $     4,865,012   $     4,806,236   $     4,984,837   $     4,764,635


                    Revenue Credits
                         Forecast of Secondary Revenues $               509,626    $       509,546   $       568,946   $       552,974   $       618,074   $       668,044   $       712,563   $          808,756
                Expected Revenue from FPS contract sales $              115,604    $       116,968   $       124,271   $       133,409   $       122,446   $        26,705   $        26,561   $           30,589
                                  Other Revenue Credits $               192,618    $       181,129   $       193,087   $       195,202   $       195,437   $       193,587   $       195,103   $          195,103

                                     Total Revenue Credits $            817,849    $       807,642   $       886,304   $       881,584   $       935,957   $       888,336   $       934,227   $     1,034,448


                       Revenues needed From Power Rates $              3,374,864   $     3,336,128   $     3,551,010   $     3,697,061   $     3,929,055   $     3,917,901   $     4,050,609   $     3,730,188


Power Revenues After Rate Design Step
                                                                    FY 2007            FY 2008           FY 2009           FY 2010           FY 2011           FY 2012           FY 2013           FY 2014
                     PF Preference                             $           25.13 $           24.25 $           26.28 $           27.33 $           29.46 $           28.36 $           29.50 $           25.95
                         7059                                              61841             62756             63123             63973             64039             66400             66393             67445
                                                               $       1,553,865 $       1,521,981 $       1,658,957 $       1,748,335 $       1,886,596 $       1,883,138 $       1,958,525 $       1,749,916

                      PF Exchange                              $           44.39 $           44.31 $           47.54 $           48.78 $           50.78 $           50.44 $           51.47 $           50.66
                          4034                                             35335             35765             35477             35792             36196             36508             36885             37162
     if Exchange rate greater than limit, no revenues          $       1,568,571 $       1,584,643 $       1,686,759 $       1,745,947 $       1,838,211 $       1,841,427 $       1,898,391 $       1,882,772

                            IP                                 $          31.45 $            31.34 $           34.50 $           35.73 $           37.64 $           37.32 $           38.29 $              37.55
                                                                               0                  0                 0                 0                 0                 0                 0                    0
         if IP rate greater than limit, no revenues            $              0 $                0 $               0 $               0 $               0 $               0 $               0 $                  0

                            NR                                 $          43.00 $            57.00 $           68.45 $           64.34 $           64.98 $           90.72 $           98.36 $              51.84
                                                                               0                  0                 0                 0                 0                 0                 0                    0
        if NR rate greater than limit, no revenues             $              0 $                0 $               0 $               0 $               0 $               0 $               0 $                  0

                  Revenues from Power Rates Grand Total $              3,122,436   $     3,106,624   $     3,345,717   $     3,494,282   $     3,724,806   $     3,724,565   $     3,856,917   $     3,632,688




    D:\Docstoc\Working\pdf\fecdeba0-4783-4e06-961e-50c9835395d4.xlsRev Check                                                                                                                   3/4/2012
              Revenue Check After Standard Ratemaking $          (252,428) $         (229,504) $       (205,293) $       (202,779) $       (204,249) $       (193,336) $       (193,693) $           (97,500)

Power Revenues After PF Slice Product Separation
                                                            FY 2007               FY 2008           FY 2009           FY 2010           FY 2011           FY 2012           FY 2013           FY 2014
                    PF Preference                       $           26.36 $             25.65 $           26.90 $           28.86 $           31.30 $           30.36 $           31.50 $           26.91
                        5442                                        47670               48173             48814             49450             49906             51526             51808             52531
                                                        $       1,256,483 $         1,235,551 $       1,313,112 $       1,427,191 $       1,562,261 $       1,564,565 $       1,632,087 $       1,413,759

                     PF Exchange                        $           44.39 $             44.31 $           47.54 $           48.78 $           50.78 $           50.44 $           51.47 $           50.66
                                                                    35335               35765             35477             35792             36196             36508             36885             37162
    if Exchange rate greater than limit, no revenues    $       1,568,571 $         1,584,643 $       1,686,759 $       1,745,947 $       1,838,211 $       1,841,427 $       1,898,391 $       1,882,772

                           IP                           $           34.37 $            33.62 $           34.82 $           36.72 $           39.08 $           38.14 $           39.24 $              34.74
                                                                         0                  0                 0                 0                 0                 0                 0                    0
        if IP rate greater than limit, no revenues      $               0 $                0 $               0 $               0 $               0 $               0 $               0 $                  0

                           NR                           $           43.00 $            57.00 $           68.45 $           64.34 $           64.98 $           90.72 $           98.36 $              51.84
                                                                         0                  0                 0                 0                 0                 0                 0                    0
       if NR rate greater than limit, no revenues       $               0 $                0 $               0 $               0 $               0 $               0 $               0 $                  0

                 Revenues from Power Rates Grand Total $        2,825,053     $     2,820,194   $     2,999,872   $     3,173,139   $     3,400,472   $     3,405,992   $     3,530,478   $     3,296,530




   D:\Docstoc\Working\pdf\fecdeba0-4783-4e06-961e-50c9835395d4.xlsRev Check                                                                                                               3/4/2012
Slice Revenue requirement                                 $        515,504     $    496,705   $      567,816    $    532,235    $    550,489    $    553,565    $    571,585    $          581,304
Slice Revenue Credits                                     $        (42,464)    $    (39,994)  $      (46,778)   $    (40,081)   $    (40,081)   $    (40,081)   $    (40,081)   $          (40,081)
Slice Implementation Expenses                             $          2,486     $      2,486   $        2,486    $      2,486    $      2,486    $      2,486    $      2,486    $              -
                                        Net Cost of Slice $        475,526     $    459,197   $      523,524    $    494,640    $    512,894    $    515,970    $    533,990    $          541,223
                                                                                              $      523,524
                                                                                        check $          -
                     Revenues needed From Power Rates $          3,377,350     $   3,338,614 $     3,553,496    $   3,699,547   $   3,931,541   $   3,920,387   $   4,053,095   $     3,730,188

            Non-Slice PF Secondary Revenue Adjustment $            175,658     $     170,282   $     175,193    $     171,010   $     186,074   $     194,911   $     205,066   $       205,066
           Non-Slice PF IOU REP Look Back Adjustment $                 -       $         -     $         -      $         -     $         -     $         -     $         -     $           -
                                                      $          3,553,008     $   3,508,895   $   3,728,689    $   3,870,557   $   4,117,615   $   4,115,298   $   4,258,161   $     3,935,253

                                                         $       3,300,579     $   3,279,392   $   3,523,396    $   3,667,779   $   3,913,366   $   3,921,962   $   4,064,468   $     3,837,753


            Revenue Check After Slice Product Separation $         252,428     $    229,504    $    205,293     $    202,779    $    204,249    $    193,336    $    193,693    $           97,500




    D:\Docstoc\Working\pdf\fecdeba0-4783-4e06-961e-50c9835395d4.xlsRev Check                                                                                                    3/4/2012
                                                                               FY 2015           FY 2016
                                                                           $     2,293,499   $     2,304,268
                                                                           $        14,603   $        14,822
                                                                           $     1,931,977   $     1,961,830
                                                                           $        89,175   $        90,843
                                                                           $       388,978   $       394,813

                                                                           $           -     $           -
                                                                           $       159,496   $       161,133

                                                                           $     4,877,729   $     4,927,708

                                                                           $        36,896   $        34,860

                                                                           $     4,914,625   $     4,962,568



                                                                           $       809,889   $       812,670
                                                                           $        30,589   $        30,589
                                                                           $       195,103   $       195,103

                                                                           $     1,035,581   $     1,038,363


                                                                           $     3,879,043   $     3,924,206




                                                                               FY 2015           FY 2016
                                                                           $         27.11 $           27.39
                                                                                     67907             67907
                                                                           $     1,840,785 $       1,860,028

                                                                           $         51.87 $           52.10
                                                                                     37440             37825
                                                                           $     1,941,892 $       1,970,592

                                                                           $         38.71 $           38.93
                                                                                          0                 0
                                                                           $             0 $               0

                                                                           $         49.27 $           57.34
                                                                                          0                 0
                                                                           $             0 $               0

                                                                           $     3,782,677   $     3,830,621




D:\Docstoc\Working\pdf\fecdeba0-4783-4e06-961e-50c9835395d4.xlsRev Check                                        3/4/2012
                                                                           $       (96,366) $        (93,585)



                                                                               FY 2015           FY 2016
                                                                           $         28.16 $           28.35
                                                                                     53266             53266
                                                                           $     1,500,218 $       1,509,999

                                                                           $         51.87 $           52.10
                                                                                     37440             37825
                                                                           $     1,941,892 $       1,970,592

                                                                           $        35.96 $           36.13
                                                                                         0                 0
                                                                           $            0 $               0

                                                                           $        49.27 $           57.34
                                                                                         0                 0
                                                                           $            0 $               0

                                                                           $     3,442,110   $     3,480,591




D:\Docstoc\Working\pdf\fecdeba0-4783-4e06-961e-50c9835395d4.xlsRev Check                                        3/4/2012
                                                                           $    585,714    $    595,176
                                                                           $    (40,081)   $    (40,081)
                                                                           $        -      $        -
                                                                           $    545,632    $    555,095


                                                                           $   3,879,043   $   3,924,206

                                                                           $     205,066   $     205,066
                                                                           $         -     $         -
                                                                           $   4,084,109   $   4,129,271

                                                                           $   3,987,743   $   4,035,687


                                                                           $     96,366    $     93,585




D:\Docstoc\Working\pdf\fecdeba0-4783-4e06-961e-50c9835395d4.xlsRev Check                                   3/4/2012
 6               Revenue Under Recovery After Rate Design Step                ($252,428)       ($229,504)         ($205,293)       ($202,779)       ($204,249)       ($193,336)       ($193,693)        ($97,500)       ($96,366)        ($93,585)
 8                Revenue Check After Slice Product Separation                 $252,428         $229,504           $205,293         $202,779         $204,249         $193,336         $193,693          $97,500         $96,366          $93,585
 9                                                                                                                                                                                                     Years to Finance Expensed Portion of 7b2 cons
10                                                                         Right click and then click on "Run Entire Case"                                                                             Finance Expensed Portion of 7b2 Cons ? 1 or 0
11                                                                                                                                                                                                                         Increase in Exchanger loads
12                                                                         Then in tab "Scenario" copy/paste/values cells C17 to C19 to cells L6 to L8, until cell M9 is zero. This last                                  Increase in Exchanger ASCs
                                                                           step will make the Slice product calculation of net augmentation comport with the calculated non-Slice PF
13                                                                                                                                                                                                                         Increase in BPA Base Costs
                                                                           rate.
14                                                                                                                                                                                                               Additional Increase in 7b2 Base Costs
15                                                                                                                                                                                                         Include Slice Portion of Secondary ? 1 or 0
                                                                                                                                                                                                             Remove Mid-Columbia Resources? 1 or 0
27                                                                                                                                                                                                              Remove Obsolete Conservation? 1 or 0
28                                Section 7(b)(3) Load for FY2007             4050                              FY2009 test                     FY2010-11 test                    FY2012-13 test             Percent of Conservation Capital Financed
29                                 Section 7(b)(2) Rate Test trigger          8.20                                 8.20                              5.50                              3.70                    Remove Historical Conservation? 1 or 0
30                                                                     $           0.573 Ctrl l                                                                                                                      Remove Public Exchange? 1 or 0
31
32 Rate Design Step                                                          FY 2007           FY 2008           FY 2009           FY 2010          FY 2011          FY 2012          FY 2013          FY 2014         FY 2015         FY 2016
33                  Rates After Initial Allocation
34                       UNBIFURCATED PF                               $           33.33   $       32.45    $         34.48    $       35.53    $       37.66    $       36.56    $       37.70    $       34.15   $       35.31   $       35.59
35                                IP                                   $           36.20   $       49.41    $         59.65    $       55.35    $       56.11    $       81.10    $       88.85    $       39.58   $       36.98   $       45.09
36                               NR                                    $           36.20   $       49.41    $         59.65    $       55.35    $       56.11    $       81.10    $       88.85    $       39.58   $       36.98   $       45.09
37
38 Rate Design Step                                                          FY 2007           FY 2008           FY 2009           FY 2010          FY 2011          FY 2012          FY 2013          FY 2014         FY 2015         FY 2016
39                Rates After IP-PF Linc Allocation
40                   UNBIFURCATED PF (average)                         $           33.33   $       32.45    $         34.48    $       35.53    $       37.66    $       36.56    $       37.70    $       34.15   $       35.31   $       35.59
41                     UNBIFURCATED PF (flat)                          $           31.79   $       30.95    $         32.90    $       33.93    $       35.99    $       35.00    $       36.09    $       32.62   $       33.74   $       34.02
42                                IP                                   $           32.37   $       31.52    $         33.47    $       34.50    $       36.56    $       35.57    $       36.66    $       33.19   $       34.31   $       34.59
43                               NR                                    $           36.20   $       49.41    $         59.65    $       55.35    $       56.11    $       81.10    $       88.85    $       39.58   $       36.98   $       45.09
44
45 Rate Design Step                                                          FY 2007           FY 2008           FY 2009           FY 2010          FY 2011          FY 2012          FY 2013          FY 2014         FY 2015         FY 2016
46                  Rates After 7(b)(3) Allocation
47                          PF Preference                              $           25.13   $       24.25    $         26.28    $       27.33    $       29.46    $       28.36    $       29.50    $       25.95   $       27.11   $       27.39
48                          PF Exchange                                $           44.39   $       44.31    $         47.54    $       48.78    $       50.78    $       50.44    $       51.47    $       50.66   $       51.87   $       52.10
49                                IP                                   $           39.17   $       39.11    $         42.28    $       43.50    $       45.43    $       45.19    $       46.17    $       45.45   $       46.61   $       46.84
50                               NR                                    $           43.00   $       57.00    $         68.45    $       64.34    $       64.98    $       90.72    $       98.36    $       51.84   $       49.27   $       57.34
51




     D:\Docstoc\Working\pdf\fecdeba0-4783-4e06-961e-50c9835395d4.xlsStart Here                                                                                                                                              3/4/201211:01 AM
52 Rate Design Step                                                  FY 2007           FY 2008         FY 2009         FY 2010          FY 2011         FY 2012         FY 2013         FY 2014         FY 2015         FY 2016
53               Rates After IP-PF Linc #2 Allocation
54                       PF Preference (average)                 $        25.13    $       24.25   $       26.28   $       27.33    $       29.46   $       28.36   $       29.50   $       25.95   $       27.11   $       27.39
55                         PF Preference (flat)                  $        24.07    $       23.17   $       25.12   $       26.17    $       28.20   $       27.13   $       28.20   $       24.72   $       25.84   $       26.11
56                            PF Exchange                        $        44.39    $       44.31   $       47.54   $       48.78    $       50.78   $       50.44   $       51.47   $       50.66   $       51.87   $       52.10
57                                 IP                            $        31.45    $       31.34   $       34.50   $       35.73    $       37.64   $       37.32   $       38.29   $       37.55   $       38.71   $       38.93
58                                 NR                            $        43.00    $       57.00   $       68.45   $       64.34    $       64.98   $       90.72   $       98.36   $       51.84   $       49.27   $       57.34
59
68 Slice Product Separation Step                                     FY 2007           FY 2008         FY 2009         FY 2010          FY 2011         FY 2012         FY 2013         FY 2014         FY 2015         FY 2016
69             Rates After PF Slice Product Separation
70                       PF Preference (average)                 $        26.36    $       25.65   $       26.90   $       28.86    $       31.30   $       30.36   $       31.50   $       26.91   $       28.16   $       28.35
71                         PF Preference (flat)                  $        25.13    $       24.35   $       25.56   $       27.47    $       29.85   $       28.89   $       29.99   $       25.48   $       26.70   $       26.88
72                            PF Exchange                        $        44.39    $       44.31   $       47.54   $       48.78    $       50.78   $       50.44   $       51.47   $       50.66   $       51.87   $       52.10
73                                 IP                            $        31.45    $       31.34   $       34.50   $       35.73    $       37.64   $       37.32   $       38.29   $       37.55   $       38.71   $       38.93
74                                 NR                            $        43.00    $       57.00   $       68.45   $       64.34    $       64.98   $       90.72   $       98.36   $       51.84   $       49.27   $       57.34
75
76 Final Rate Design Step                                            FY 2007           FY 2008         FY 2009         FY 2010          FY 2011         FY 2012         FY 2013         FY 2014         FY 2015         FY 2016
77               Rates After IP-PF Linc #3 Allocation
78                       PF Preference (average)                 $        26.36    $       25.65   $       26.90   $       28.86    $       31.30   $       30.36   $       31.50   $       26.91   $       28.16   $       28.35
79                         PF Preference (flat)                  $        24.99    $       24.24   $       25.44   $       27.34    $       29.71   $       28.76   $       29.86   $       25.36   $       26.58   $       26.76
80                            PF Exchange                        $        44.39    $       44.31   $       47.54   $       48.78    $       50.78   $       50.44   $       51.47   $       50.66   $       51.87   $       52.10
81                                 IP                            $        34.37    $       33.62   $       34.82   $       36.72    $       39.08   $       38.14   $       39.24   $       34.74   $       35.96   $       36.13
82                                 NR                            $        43.00    $       57.00   $       68.45   $       64.34    $       64.98   $       90.72   $       98.36   $       51.84   $       49.27   $       57.34
83
87
88                                                                   FY 2007           FY 2008         FY 2009         FY 2010          FY 2011         FY 2012         FY 2013         FY 2014         FY 2015         FY 2016
89
90                                                               $         0.00    $        0.00   $        0.00   $         0.00   $        0.00   $        0.00   $        0.00
91
92                                                               $             -   $         -     $         -     $         -      $         -     $         -     $         -     $         -     $         -     $         -
93
94                                                               $             -   $         -     $         -     $         -      $         -     $         -     $         -     $         -     $         -     $         -
95
                                                                                                       FY 2009                      $         -
                  PF Preference (average non-Slice)                                                $       26.90                    $         -
                         PF Preference (flat)                                                      $       25.44                    $         -
                            PF Exchange                                                            $       47.54
                                 IP                                                                $       34.82                    $         -
                                 NR                                                                $       68.45




    D:\Docstoc\Working\pdf\fecdeba0-4783-4e06-961e-50c9835395d4.xlsStart Here                                                                                                                                3/4/201211:01 AM
                                                                       26.36        25.65        26.90        28.86        31.30        30.36        31.50        26.91        28.16        28.35
                                                                      24.99        24.24        25.44        27.34        29.71        28.76        29.86        25.36        26.58        26.76
                                                                       44.39        44.31        47.54        48.78        50.78        50.44        51.47        50.66        51.87        52.10
                                                                      34.37        33.62        34.82        36.72        39.08        38.14        39.24        34.74        35.96        36.13
                                                                      43.00        57.00        68.45        64.34        64.98        90.72        98.36        51.84        49.27        57.34

                                                             $          -      $     -      $     -      $     -      $     -      $     -      $     -      $     -      $     -      $     -
                                                             $          -      $     -      $     -      $     -      $     -      $     -      $     -      $     -      $     -      $     -
                                                             $          -      $     -      $     -      $     -      $     -      $     -      $     -      $     -      $     -      $     -
                                                             $          -      $     -      $     -      $     -      $     -      $     -      $     -      $     -      $     -      $     -
                                                             $          -      $     -      $     -      $     -      $     -      $     -      $     -      $     -      $     -      $     -

                                                             $        24.99    $   24.24    $   25.44    $   27.34    $   29.71    $   28.76    $   29.86    $   25.36    $   26.58    $   26.76
                                                             $         8.80    $    8.80    $    8.80    $    8.80    $    8.80    $    8.80    $    8.80    $    8.80    $    8.80    $    8.80
                                                             $         0.57    $    0.57    $    0.57    $    0.57    $    0.57    $    0.57    $    0.57    $    0.57    $    0.57    $    0.57
                                                             $        34.37    $   33.62    $   34.82    $   36.72    $   39.08    $   38.14    $   39.24    $   34.74    $   35.96    $   36.13

                                                             $        (0.00) $     (0.00) $     (0.00) $     (0.00) $     (0.00) $     (0.00) $     (0.00) $     (0.00) $     (0.00) $     (0.00)




D:\Docstoc\Working\pdf\fecdeba0-4783-4e06-961e-50c9835395d4.xlsStart Here                                                                                                     3/4/201211:01 AM
                                                                                   7
                                                                                   1
                                                                                  0%
                                                                                  0%
                                                                                  0%
                                                                                  0%
                                                                                   1
                                                                                   1
                                                                                   1
                                                                                120.0%
                                                                                   0
                                                                                   0




                                                                            $     34.48




D:\Docstoc\Working\pdf\fecdeba0-4783-4e06-961e-50c9835395d4.xlsStart Here                 3/4/201211:01 AM
                                                                            $    9.38
                                                                            $    8.80
                                                                            $    0.57




                                                                            $   9.376
                                                                            $   8.803
                                                                            $   0.573




D:\Docstoc\Working\pdf\fecdeba0-4783-4e06-961e-50c9835395d4.xlsStart Here               3/4/201211:01 AM
                          For Discussion and Internal BPA Use Only


 E&T IN TX IN
DSI Load                                             0
Increase in Exchanger loads                         0%
Increase in Exchanger ASCs                          0%
Increase in BPA Base Costs                          0%
Additional Increase in 7b2 Base Costs               0%
Include Slice Portion of Secondary ? 1 or 0          1
Remove Mid-Columbia Resources? 1 or 0                1
Remove Obsolete Conservation? 1 or 0                 1
 Percent of Conservation Capital Financed       Status Quo
Remove Historical Conservation? 1 or 0               0
Remove Public Exchange? 1 or 0                       0
ASC Scenario                                         5
                                                                            2009
                                               2009                      7b2 Trigger
             Unbifurcated PF              $       34.48                     8.20
     PF Preference (average non-Slice)    $       26.90
               PF Exchange                $       47.54
                    IP                    $       34.82
                    NR                    $       68.45
IOU New Allocation Scheme Net Exchange Benefits
                                                   FY 2009
Avista                                         $      22,091
Idaho Power                                    $         -
Northwestern Energy PNWR                       $       6,888
Pacificorp                                     $      55,515
Portland General                               $      66,527
Puget Sound Energy                             $     114,671
                                               $     265,691

Net Public Exchange                            $       1,107 check

  Total IOU REP Benefit Before Adjustment      $     265,691
   Total IOU REP Benefit After Adjustment      $     265,691
           Look Back Adjustment                $         -
          Avista Deemer Adjustment             $      16,530   $ (16,530) $   (16,530)
Total IOU REP Benefit Adjustment               $         -


                                               $     265,691
                                               $     266,799



             D:\Docstoc\Working\pdf\fecdeba0-4783-4e06-961e-50c9835395d4.xls
                           For Discussion and Internal BPA Use Only




        PF Preference (average non-Slice)    26.90
                            PF Exchange      47.54
                                       IP    34.82
                                                     $   -


ASC Scenario
       1 Base Case
       2 E Out; T In
       3 E Out; T Out; W In
       4 E Out; T Out; W Out
       5 E In; T In
       6 E In; T Out; W In
       7 E In; T Out; W Out

       1 T In=1, T Out=0       0 removes transmission of exchange power from PFx
       0 W In=0, W Out=1       1 removes GTA costs from PFx




                                         From Rate Tables                          check
                           Unbifurcated PF                        34.48             $    -
                   PF Preference (average non-Slice)              26.90             $ 0.00
                             PF Exchange                          47.54             $ 0.00
                                  IP                              34.82             $ 0.00
                                  NR                              68.45             $    -




              D:\Docstoc\Working\pdf\fecdeba0-4783-4e06-961e-50c9835395d4.xls
            For Discussion and Internal BPA Use Only




D:\Docstoc\Working\pdf\fecdeba0-4783-4e06-961e-50c9835395d4.xls
                                                                                    PUB REP Type                                                    Forecasted to                               2009              2009                                                              Remove Public Exchange? 1 or 0                   0                                                                                                  FY 2007    Load     FY 2007    ASC
                                                                                     Traditional                                                     Exchange?                                  ASC           PF exchange                        ASC minus PFx                                                                                                                                                                          % Load    Growth     ASC      Growth   % In Lieu
                                                                                                                           Avista                       Yes             Yes               $       50.28       $     38.74                         $    11.54                                                                                                                                                                                71     0.75%     49.19
                                                                                                                                                                                                                                                                                                                                                                                                                                                             $        0.75%     0.00%
                                                                                                                    Clark County PUD                     No             No                $       46.02                                           $      7.28                                                                                                                                                                              279     0.75%     48.92
                                                                                                                                                                                                                                                                                                                                                                                                                                                             $        0.75%     0.00%
                                                                                       IOU REP Type                    Idaho Power                       No             No                $       33.86                                           $     (4.88)                                                                                                                                                                              87     0.75%     36.62
                                                                                                                                                                                                                                                                                                                                                                                                                                                             $        0.75%     0.00%
                                                                                         Traditional            Northwestern Energy PNWR                Yes             Yes               $       54.84                                           $    16.10                                                                                                                                                                                39     0.75%     51.83
                                                                                                                                                                                                                                                                                                                                                                                                                                                             $        0.75%     0.00%
                                                                                                                        Pacificorp                      Yes             Yes               $       51.27                                           $    12.53                                                                                                                                                                                34     0.75%     44.75
                                                                                                                                                                                                                                                                                                                                                                                                                                                             $        0.75%     0.00%
                                                                                                                     Portland General                   Yes             Yes               $       55.61                                           $    16.87                                                                                                                                                                               725     0.75%     50.68
                                                                                                                                                                                                                                                                                                                                                                                                                                                             $        0.75%     0.00%
                                                                                                                   Puget Sound Energy                   Yes             Yes               $       59.71                                           $    20.97                                                             -   $        38.00                 Public Exchanger 7                                                             920     0.75%     44.00
                                                                                                                                                                                                                                                                                                                                                                                                                                                             $        0.75%     0.00%
                                                                                                                         Utility #1                      No             No                $       35.56                                           $     (3.18)                                                           -   $        36.00                 Public Exchanger 8                                                           1,250     0.75%     42.00
                                                                                                                                                                                                                                                                                                                                                                                                                                                             $        0.75%     0.00%
                                                                                                                         Utility #2                     Yes             Yes               $       45.74                                           $      7.00                                                            -   $        34.00                 Public Exchanger 9                                                           1,031     0.75%     34.00
                                                                                                                                                                                                                                                                                                                                                                                                                                                             $        0.75%     0.00%
                                                                                                                         Utility #3                      No             No                $       38.08                                           $     (0.66)                                                           -   $        33.00                 Public Exchanger 10                                                             80     0.75%     32.00
                                                                                                                                                                                                                                                                                                                                                                                                                                                             $        0.75%     0.00%
                                                                                                                         Utility #4                      No             No                $       47.02                                           $      8.28                                                            -   $        30.00                 Public Exchanger 11                                                            390     0.75%     30.00
                                                                                                                                                                                                                                                                                                                                                                                                                                                             $        0.75%     0.00%
                                                                                                                         Utility #5                      No             No                $       50.88                                           $    12.14                                                             -   $        28.00                 Public Exchanger 12                                                            766     0.75%     28.00
                                                                                                                                                                                                                                                                                                                                                                                                                                                             $        0.75%     0.00%
                                                                                                                                                            4,050
                                                                                                                                                      FY 2007                 FY 2008          FY 2009            FY 2010           FY 2011           FY 2012          FY 2013
                                                                                                                           Avista                        454                   463              474                 484               492               496             504                508                     512             516
                                                                                                                    Clark County PUD                      0                     0                0                   0                 0                 0               0                  0                       0               0
                                                                                                                       Idaho Power                       843                   859              880                 900               917               922             935                942                     949             956
                                                                                                                Northwestern Energy PNWR                 105                   105              106                 107               108               108             110                110                     111             112
                                                                                                                        Pacificorp                      1102                   1108             1098               1105              1118              1126             1141               1150                   1158             1167
                                                                                                                     Portland General                    956                   964              977                 988              1003              1010             1025               1033                   1041             1048
                                                                                                                   Puget Sound Energy                   1357                   1372             1355               1362              1370              1375             1388               1399                   1409             1420
                                                                                                                         Utility #1                      77                     77               16                 16                17                17               17                 17                     17               18
                                                                                                                         Utility #2                      59                     60               39                 40                41                41               42                 42                     43               43
                                                                                                                         Utility #3                      421                   425              420                 424               430               434             441                444                     447             451                         YES
                                                                                                                         Utility #4                       0                     0                0                   0                 0                 0               0                  0                       0               0
                                                                                                                         Utility #5                       0                     0                0                   0                 0                 0               0                  0                       0               0         38.84173053    38.165984   40.24659   37.820515    38.893   38.8431   40.2232   20.7344

                                                                                                                Market Price Forecast            $            58.46      $        50.87   $        50.68      $       51.95    $        53.25     $       54.58   $        55.94      $          57.34      $        58.77   $        60.24
                                                                                  In Lieu Multiplyer
                                                                                        110%                       In Lieu Resource Cost         $            64.31      $        55.96   $        55.75      $       57.15    $        58.58     $       60.04   $        61.53      $          63.07      $        64.65   $        66.26
                                                                                                                                                                                                                                                                                                                                                            37.027924    36.08354   37.005427   35.3157   37.2521   36.1164    37.112   37.0927   37.7804   38.0124
                                                                                                                Unbifurcated PF Rate             $            33.33      $        32.45    $       34.48      $       35.53     $       37.66     $       36.56    $       37.70      $          34.15       $       35.31    $       35.59
                                                                                                                Exchange Trans                  $              4.26     $          4.26   $         4.26     $         4.26    $         4.26    $         4.26   $         4.26     $            4.26      $         4.26   $         4.26

                                                                              Deemer Logic ? 1 or 0
                                                                                          0                                                           FY 2007                 FY 2008          FY 2009            FY 2010           FY 2011           FY 2012          FY 2013            FY 2014                FY 2015          FY 2016
                                                                                        IOU
                                                                              Avista                                                ASC         $          49.19        $        50.04    $       50.28      $        48.42    $        48.69    $       48.47    $       48.41      $        48.77         $       49.14    $       49.51
                                                                                                                 In Lieu and/or ASC costs       $          49.19        $        50.04    $       50.28      $        48.42    $        48.69    $       48.47    $       48.41      $        48.77         $       49.14    $       49.51
                                                                                              1                                    Load                 454                    463              474                 484               492              496              504                 508                   512              516
                                                                                                                     Gross Exchange Cost        $        195,834        $      203,518    $     208,782      $      205,098    $      209,797    $     211,115    $     213,797      $      217,016         $     220,283    $     223,600

                                                                                         PUD
                                                                              Clark County PUD                                      ASC         $             48.92     $         50.31   $        46.02     $        45.60    $        45.67    $        46.97   $        48.64     $           49.00      $        49.37   $        49.74
                                                                                                                 In Lieu and/or ASC costs       $             48.92     $         50.31   $        46.02     $        45.60    $        45.67    $        46.97   $        48.64     $           49.00      $        49.37   $        49.74
                                                                                              0                                    Load                  0                       0                0                  0                 0                 0                0                  0                      0                0
                                                                                                                     Gross Exchange Cost        $                   0   $             0   $            0     $            0    $            0    $            0   $            0     $                  0   $            0   $            0

                                                                                            IOU
                                                                              Idaho Power                                           ASC         $             36.62     $         37.28   $      33.86       $      33.96      $      34.34      $      34.60     $      34.99       $           35.25      $        35.52   $        35.78
                                                                                                                 In Lieu and/or ASC costs       $             36.62     $         37.28   $      33.86       $      33.96      $      34.34      $      34.60     $      34.99       $           35.25      $        35.52   $        35.78
                                                                                              0                                    Load                  0                       0             0                   0                 0                0                0                     0                      0                0
                                                                                                                     Gross Exchange Cost        $                   0   $             0   $          0       $          0      $          0      $          0     $          0       $                  0   $            0   $            0
                                                                                          IOU                                                                                             Deemed             Deemed            Deemed            Deemed           Deemed
                                                                              Northwestern Energy PNWR                              ASC         $          51.83        $         52.87   $      54.84       $      55.36      $      56.06      $      56.85     $      57.72       $        58.15         $        58.59   $        59.03
                                                                                                                 In Lieu and/or ASC costs       $          51.83        $         52.87   $      54.84       $      55.36      $      56.06      $      56.85     $      57.72       $        58.15         $        58.59   $        59.03
                                                                                              1                                    Load                 105                     105           106                 107               108              108              110                   110                    111              112
                                                                                                                     Gross Exchange Cost        $         47,485        $        48,637   $    50,907        $     51,820      $     53,079      $    54,105      $    55,391        $       56,225         $       57,072   $       57,931
                                                                                            IOU
                                                                              Pacificorp                                            ASC         $          44.75        $        46.23    $       51.27      $       49.68     $       49.47     $       48.95    $       48.56      $        48.92         $       49.29    $       49.66
                                                                                                                 In Lieu and/or ASC costs       $          44.75        $        46.23    $       51.27      $       49.68     $       49.47     $       48.95    $       48.56      $        48.92         $       49.29    $       49.66
                                                                                              1                                    Load                 1102                   1108             1098               1105              1118              1126             1141               1150                   1158             1167
                                                                                                                     Gross Exchange Cost        $        432,092        $      450,034    $     493,289      $     481,052     $     484,370     $     484,184    $     485,459      $      492,769         $     500,188    $     507,719
                                                                                          IOU
                                                                              Portland General                                      ASC         $          50.68        $        49.35    $       55.61      $        56.01    $       56.43     $       56.43    $       56.59      $        57.01         $       57.44    $       57.87
                                                                                                                 In Lieu and/or ASC costs       $          50.68        $        49.35    $       55.61      $        56.01    $       56.43     $       56.43    $       56.59      $        57.01         $       57.44    $       57.87
                                                                                              1                                    Load                 956                    964              977                 988              1003              1010             1025               1033                   1041             1048
                                                                                                                     Gross Exchange Cost        $        424,574        $      417,977    $     476,133      $      484,562    $     495,907     $     500,477    $     508,172      $      515,823         $     523,589    $     531,473
                                                                                         IOU
                                                                              Puget Sound Energy                                    ASC         $          54.28        $        53.37    $       59.71      $       59.72     $       60.36     $       60.92    $       61.56      $        62.02         $       62.49    $       62.96
                                                                                                                 In Lieu and/or ASC costs       $          54.28        $        53.37    $       59.71      $       59.72     $       60.36     $       60.92    $       61.56      $        62.02         $       62.49    $       62.96
                                                                                              1                                    Load                 1357                   1372             1355               1362              1370              1375             1388               1399                   1409             1420
                                                                                                                     Gross Exchange Cost        $        645,231        $      643,107    $     708,798      $     712,784     $     724,596     $     735,807    $     748,770      $      760,044         $     771,487    $     783,103
                                                                                            PUD
                                                                              Utility #1                                            ASC         $             35.64     $         36.45   $        35.56     $        36.71    $      36.68      $        38.27   $        38.26     $           38.55      $        38.84   $        39.13
                                                                                                                 In Lieu and/or ASC costs       $             35.64     $         36.45   $        35.56     $        36.71    $      36.68      $        38.27   $        38.26     $           38.55      $        38.84   $        39.13
                                                                                              0                                    Load                  0                       0                0                  0               0                   0                0                  0                      0                0
                                                                                                                     Gross Exchange Cost        $                   0   $             0   $            0     $            0    $          0      $            0   $            0     $                  0   $            0   $            0
                                                                                            PUD                                                                                                                                Deemed
                                                                              Utility #2                                            ASC         $             41.36     $        42.25    $       45.74      $       47.59     $      47.24      $       50.01    $       49.62      $        49.99         $       50.37    $       50.74
                                                                                                                 In Lieu and/or ASC costs       $             41.36     $        42.25    $       45.74      $       47.59     $      47.24      $       50.01    $       49.62      $        49.99         $       50.37    $       50.74
                                                                                              1                                    Load                  59                     60               39                 40              41                  41               42                 42                     43               43
                                                                                                                     Gross Exchange Cost        $         21,409        $       22,143    $      15,677      $      16,686     $    16,849       $      18,119    $      18,298      $       18,573         $      18,853    $      19,137
                                                                                            PUD
                                                                              Utility #3                                            ASC         $             37.97     $         38.80   $        38.08     $        39.63    $        39.81    $        41.76   $        41.97     $           42.28      $        42.60   $        42.92
                                                                                                                 In Lieu and/or ASC costs       $             37.97     $         38.80   $        38.08     $        39.63    $        39.81    $        41.76   $        41.97     $           42.28      $        42.60   $        42.92
                                                                                              0                                    Load                  0                       0                0                  0                 0                 0                0                  0                      0                0
                                                                                                                     Gross Exchange Cost        $                   0   $             0   $            0     $            0    $            0    $            0   $            0     $                  0   $            0   $            0
                                                                                            PUD
                                                                              Utility #4                                            ASC         $             45.23     $         46.00   $        47.02     $        47.72    $        48.37    $        49.02   $        49.68     $           50.05      $        50.43   $        50.81
                                                                                                                 In Lieu and/or ASC costs       $             45.23     $         46.00   $        47.02     $        47.72    $        48.37    $        49.02   $        49.68     $           50.05      $        50.43   $        50.81
                                                                                              0                                    Load                  0                       0                0                  0                 0                 0                0                  0                      0                0
                                                                                                                     Gross Exchange Cost        $                   0   $             0   $            0     $            0    $            0    $            0   $            0     $                  0   $            0   $            0
                                                                                            PUD
                                                                              Utility #5                                            ASC         $             48.65     $         49.91   $        50.88     $        51.94    $        53.11    $        54.30   $        55.58     $           56.00      $        56.42   $        56.84
                                                                                                                 In Lieu and/or ASC costs       $             48.65     $         49.91   $        50.88     $        51.94    $        53.11    $        54.30   $        55.58     $           56.00      $        56.42   $        56.84
                                                                                              0                                    Load                  0                       0                0                  0                 0                 0                0                  0                      0                0
                                                                                                                     Gross Exchange Cost        $                   0   $             0   $            0     $            0    $            0    $            0   $            0     $                  0   $            0   $            0


                                                                                            PUD                            Public Exchange               59                     60               39                 40                41                41               42                 42                     43               43
                                                                                            IOU                              IOU Exchange               3975                   4012             4011               4046              4091              4115             4169               4200                   4231             4263
                                                                                                                                                      FY 2007                 FY 2008          FY 2009            FY 2010           FY 2011           FY 2012          FY 2013            FY 2014                FY 2015          FY 2016
                                                                                                                                Total Load             4034                 4072                 4050              4086              4132            4156             4211                 4242                 4274             4306
                                                                                                                Average Exchanger ASC                   50                 49.92                55.07              54.54             54.83          54.89            55.03                 55.45               55.86            56.13
                                                                                            PUD                      Gross Public Exchange      $         21,409        $    22,143       $       15,677     $       16,686    $       16,849    $    18,119      $    18,298        $       18,573         $    18,853      $    19,137
                                                                                            IOU                        Gross IOU Exchange       $      1,745,215        $ 1,763,272       $    1,937,909     $    1,935,316    $    1,967,749    $ 1,985,688      $ 2,011,590        $    2,041,877         $ 2,072,620      $ 2,103,826
                                                                                                                         Total Gross Cost       $      1,766,624        $ 1,785,415       $    1,953,586     $    1,952,002    $    1,984,597    $ 2,003,807      $ 2,029,888        $    2,060,450         $ 2,091,473      $ 2,122,962
                                                                                                                                                         1766624            1785415              1953586

                                                                                                                                                                                   2009   $        47.54    2010-11 Average    $        49.78 2012-13 Average     $        50.95
                                                                                                                                                      FY 2007                 FY 2008          FY 2009            FY 2010           FY 2011           FY 2012          FY 2013            FY 2014                FY 2015          FY 2016


                                                                                                                PF Exchange Rate                 $            44.39      $        44.31   $        47.54      $       48.78    $        50.78     $       50.44   $        51.47      $          50.66      $        51.87   $        52.10
                                                                                            IOU
                                                                              Avista                                                ASC         $          49.19        $         50.04   $        50.28     $        48.42    $        48.69    $        48.47   $        48.41     $        48.77         $        49.14   $        49.51
                                                                                                                 In Lieu and/or ASC costs       $          49.19        $         50.04   $        50.28     $        48.42    $        48.69    $        48.47   $        48.41     $        48.77         $        49.14   $        49.51
                                                                                                                PF Exchange Rate                $          45.06        $         46.42   $        44.96     $        43.71    $        43.71    $        43.79   $        43.63     $        50.66         $        51.87   $        52.10
                                                                                                                                   Load                 454                     463              474                484               492               496              504                508                    512              516
                                                                              $                    136,159             Net Exchange Cost        $         16,442        $        14,723   $       22,091     $       19,951    $       21,458    $       20,384   $       21,110     $          -           $          -     $          -

                                                                                         PUD
                                                                              Clark County PUD                                      ASC         $             48.92     $         50.31   $        46.02     $        45.60    $        45.67    $        46.97   $        48.64     $           49.00      $        49.37   $        49.74
                                                                                                                 In Lieu and/or ASC costs       $             48.92     $         50.31   $        46.02     $        45.60    $        45.67    $        46.97   $        48.64     $           49.00      $        49.37   $        49.74
                                                                                                                PF Exchange Rate                $             38.74     $         38.74   $        38.74     $        38.74    $        38.74    $        38.74   $        38.74     $           50.66      $        51.87   $        52.10
                                                                                                                                   Load                  0                       0                0                  0                 0                 0                0                  0                      0                0
                                                                              $                             0          Net Exchange Cost        $                   0   $             0   $            0     $            0    $            0    $            0   $            0     $              -       $          -     $          -

                                                                                            IOU
                                                                              Idaho Power                                           ASC         $             36.62     $         37.28   $        33.86     $        33.96    $        34.34    $        34.60   $        34.99     $           35.25      $        35.52   $        35.78
                                                                                                                 In Lieu and/or ASC costs       $             36.62     $         37.28   $        33.86     $        33.96    $        34.34    $        34.60   $        34.99     $           35.25      $        35.52   $        35.78
                                                                                                                PF Exchange Rate                $             38.74     $         38.74   $        38.74     $        38.74    $        38.74    $        38.74   $        38.74     $           50.66      $        51.87   $        52.10
                                                                                                                                   Load                  0                       0                0                  0                 0                 0                0                  0                      0                0
                                                                              $                         -              Net Exchange Cost        $               -       $           -     $          -       $          -      $          -      $          -     $          -       $              -       $          -     $          -

                                                                                          IOU
                                                                              Northwestern Energy PNWR                              ASC         $          51.83        $         52.87   $        54.84     $        55.36    $        56.06    $        56.85   $        57.72     $        58.15         $        58.59   $        59.03
                                                                                                                 In Lieu and/or ASC costs       $          51.83        $         52.87   $        54.84     $        55.36    $        56.06    $        56.85   $        57.72     $        58.15         $        58.59   $        59.03
                                                                                                                PF Exchange Rate                $          46.65        $         48.34   $        47.42     $        48.27    $        48.38    $        49.75   $        50.12     $        50.66         $        51.87   $        52.10
                                                                                                                                   Load                 105                     105              106                107               108               108              110                110                    111              112
                                                                              $                     64,350             Net Exchange Cost        $          4,746        $         4,167   $        6,888     $        6,637    $        7,272    $        6,757   $        7,293     $        7,240         $        6,549   $        6,801

                                                                                            IOU
                                                                              Pacificorp                                            ASC         $          44.75        $        46.23    $       51.27      $       49.68     $       49.47     $       48.95    $       48.56      $        48.92         $       49.29    $       49.66
                                                                                                                 In Lieu and/or ASC costs       $          44.75        $        46.23    $       51.27      $       49.68     $       49.47     $       48.95    $       48.56      $        48.92         $       49.29    $       49.66
                                                                                                                PF Exchange Rate                $          42.37        $        43.83    $       45.50      $       44.54     $       44.21     $       44.13    $       43.74      $        50.66         $       51.87    $       52.10
                                                                                                                                   Load                 1102                   1108             1098               1105              1118              1126             1141               1150                   1158             1167
                                                                              $                    298,994             Net Exchange Cost        $         22,981        $       23,363    $      55,515      $      49,771     $      51,502     $      47,677    $      48,186      $          -           $          -     $          -

                                                                                          IOU
                                                                              Portland General                                      ASC         $          50.68        $         49.35   $        55.61     $        56.01    $       56.43     $       56.43    $       56.59      $        57.01         $       57.44    $       57.87
                                                                                                                 In Lieu and/or ASC costs       $          50.68        $         49.35   $        55.61     $        56.01    $       56.43     $       56.43    $       56.59      $        57.01         $       57.44    $       57.87
                                                                                                                PF Exchange Rate                $          45.96        $         45.95   $        47.84     $        48.70    $       48.62     $       49.46    $       49.33      $        50.66         $       51.87    $       52.10
                                                                                                                                   Load                 956                     964              977                988              1003              1010             1025               1033                   1041             1048
                                                                              $                    555,058             Net Exchange Cost        $         39,542        $        28,797   $       66,527     $       63,241    $      68,634     $      61,817    $      65,194      $       57,451         $      50,824    $      53,031

                                                                                         IOU
                                                                              Puget Sound Energy                                    ASC         $          54.28        $        53.37    $       59.71      $       59.72     $       60.36     $       60.92    $       61.56      $        62.02         $       62.49    $       62.96
                                                                                                                 In Lieu and/or ASC costs       $          54.28        $        53.37    $       59.71      $       59.72     $       60.36     $       60.92    $       61.56      $        62.02         $       62.49    $       62.96
                                                                                                                PF Exchange Rate                $          48.13        $        48.68    $       50.05      $       51.14     $       51.11     $       52.66    $       52.80      $        50.66         $       51.87    $       52.10
                                                                                                                                   Load                 1357                   1372             1355               1362              1370              1375             1388               1399                   1409             1420
                                                                              $                   1,069,414            Net Exchange Cost        $         73,106        $       56,514    $     114,671      $     102,406     $     111,042     $      99,766    $     106,550      $      139,179         $     131,126    $     135,053

                                                                                            PUD
                                                                              Utility #1                                            ASC         $             35.64     $         36.45   $        35.56     $        36.71    $        36.68    $        38.27   $        38.26     $           38.55      $        38.84   $        39.13
                                                                                                                 In Lieu and/or ASC costs       $             35.64     $         36.45   $        35.56     $        36.71    $        36.68    $        38.27   $        38.26     $           38.55      $        38.84   $        39.13
                                                                                                                PF Exchange Rate                $             38.74     $         38.74   $        38.74     $        38.74    $        38.74    $        38.74   $        38.74     $           50.66      $        51.87   $        52.10
                                                                                                                                   Load                  0                       0                0                  0                 0                 0                0                  0                      0                0
                                                                              $                         -              Net Exchange Cost        $               -       $           -     $          -       $          -      $          -      $          -     $          -       $              -       $          -     $          -

                                                                                            PUD
                                                                              Utility #2                                            ASC         $             41.36     $        42.25    $       45.74      $       47.59     $       47.24     $       50.01    $       49.62      $        49.99         $       50.37    $       50.74
                                                                                                                 In Lieu and/or ASC costs       $             41.36     $        42.25    $       45.74      $       47.59     $       47.24     $       50.01    $       49.62      $        49.99         $       50.37    $       50.74
                                                                                                                PF Exchange Rate                $             40.32     $        41.12    $       42.51      $       43.16     $       42.78     $       44.89    $       44.47      $        50.66         $       51.87    $       52.10
                                                                                                                                   Load                  59                     60               39                 40                41                41               42                 42                     43               43
                                                                              $                      9,136             Net Exchange Cost        $               538     $          592    $       1,107      $       1,553     $       1,591     $       1,855    $       1,899      $          -           $         -      $         -

                                                                                            PUD
                                                                              Utility #3                                            ASC         $             37.97     $         38.80   $        38.08     $        39.63    $        39.81    $        41.76   $        41.97     $           42.28      $        42.60   $        42.92
                                                                                                                 In Lieu and/or ASC costs       $             37.97     $         38.80   $        38.08     $        39.63    $        39.81    $        41.76   $        41.97     $           42.28      $        42.60   $        42.92
                                                                                                                PF Exchange Rate                $             38.74     $         38.74   $        38.74     $        38.74    $        38.74    $        38.74   $        38.74     $           50.66      $        51.87   $        52.10
                                                                                                                                   Load                  0                       0                0                  0                 0                 0                0                  0                      0                0
                                                                              $                             0          Net Exchange Cost        $               -       $             0   $          -       $            0    $            0    $            0   $            0     $              -       $          -     $          -

                                                                                            PUD
                                                                              Utility #4                                            ASC         $             45.23     $         46.00   $        47.02     $        47.72    $        48.37    $        49.02   $        49.68     $           50.05      $        50.43   $        50.81
                                                                                                                 In Lieu and/or ASC costs       $             45.23     $         46.00   $        47.02     $        47.72    $        48.37    $        49.02   $        49.68     $           50.05      $        50.43   $        50.81
                                                                                                                PF Exchange Rate                $             38.74     $         38.74   $        38.74     $        38.74    $        38.74    $        38.74   $        38.74     $           50.66      $        51.87   $        52.10
                                                                                                                                   Load                  0                       0                0                  0                 0                 0                0                  0                      0                0
                                                                              $                             0          Net Exchange Cost        $                   0   $             0   $            0     $            0    $            0    $            0   $            0     $              -       $          -     $          -

                                                                                            PUD
                                                                              Utility #5                                            ASC         $             48.65     $         49.91   $        50.88     $        51.94    $        53.11    $        54.30   $        55.58     $           56.00      $        56.42   $        56.84
                                                                                                                 In Lieu and/or ASC costs       $             48.65     $         49.91   $        50.88     $        51.94    $        53.11    $        54.30   $        55.58     $           56.00      $        56.42   $        56.84
                                                                                                                PF Exchange Rate                $             38.74     $         38.74   $        38.74     $        38.74    $        38.74    $        38.74   $        38.74     $           50.66      $        51.87   $        52.10
                                                                                                                                   Load                  0                       0                0                  0                 0                 0                0                  0                      0                0
                                                                              $                         0              Net Exchange Cost        $                   0   $             0   $            0     $            0    $            0    $            0   $            0     $                  0   $            0   $            0
                                                                                            2009
                                                                                       Ave. Exch Cost               Net Public Exchange         $            538        $          592    $       1,107      $        1,553    $        1,591    $       1,855    $       1,899      $            0         $           0    $           0
                                                                                           $1,107                     Net IOU Exchange          $        156,816        $      127,565    $     265,691      $      242,005    $      259,908    $     236,401    $     248,334      $      203,870         $     188,499    $     194,886
                                                                                         $265,691                   Net Exchange Cost           $        157,354        $      128,157    $     266,799      $      243,559    $      261,499    $     238,256    $     250,233      $      203,870         $     188,499    $     194,886
                                                                                          $266,799
                                                                                                   Gross Cost of Exchange After 7(b)(2)         $      1,766,624        $ 1,785,415       $    1,953,586     $    1,952,002    $    1,984,597    $ 1,998,332      $ 2,029,888        $    2,060,450         $ 2,091,473      $ 2,122,962
                                                                                                                 Increase Due to 7(b)(2)        $            -          $       -         $           (0)    $           (0)   $           (0)   $    (5,475)     $        (0)       $          -           $       -        $       -

                                                                                                                                                $        198,053        $      200,772    $     266,827      $      206,055    $      146,387    $     162,380    $      131,497     $      177,679         $     149,580    $     152,370
                                                                                                                                                $         40,699        $       72,616    $          29      $      (37,504)   $     (115,112)   $     (75,876)   $     (118,736)    $      (26,192)        $     (38,919)   $     (42,516)
                                                                              Exchange Load Checker
                                                                                                                                                      FY 2007                 FY 2008          FY 2009            FY 2010           FY 2011           FY 2012          FY 2013            FY 2014                FY 2015          FY 2016
                                                                                                                                                                                          $        38.74                       $        40.85                     $        41.39                            $        38.99
                                                                                                                PF Exchange Rate                 $            37.59      $        36.71   $        38.74      $       39.79    $        41.92     $       40.82   $        41.96      $          38.41      $        39.57   $        39.85
                                                                                                            0
                                                                              Avista                                                ASC         $          49.19        $        50.04    $       50.28      $        48.42    $        48.69    $       48.47    $       48.41      $        48.77         $       49.14    $       49.51
                                                                                                                 In Lieu and/or ASC costs       $          49.19        $        50.04    $       50.28      $        48.42    $        48.69    $       48.47    $       48.41      $        48.77         $       49.14    $       49.51
                                                                                                                PF Exchange Rate                $          38.74        $        38.74    $       38.74      $        40.85    $        40.85    $       41.39    $       41.39      $        38.99         $       38.99    $       39.85
                                                                                                                                   Load                 454                    463              474                 484               492              496              504                 508                   512              516
                                                                              $                     47,919             Net Exchange Cost        $         41,603        $       45,958    $      47,919      $       32,046    $       33,762    $      30,839    $      31,004      $       43,545         $      45,512    $      43,733
                                                                                                                                                        10.4600%              11.4930%          8.2730%             6.5440%           6.6750%          6.2590%          6.1610%             7.1190%               7.2030%          7.0370%
                                                                                                            0
                                                                              Clark County PUD                                      ASC         $          48.92        $        50.31    $       46.02      $        45.60    $        45.67    $        46.97   $       48.64      $         49.00        $        49.37   $       49.74
                                                                                                                 In Lieu and/or ASC costs       $          48.92        $        50.31    $       46.02      $        45.60    $        45.67    $        46.97   $       48.64      $         49.00        $        49.37   $       49.74
                                                                                                                PF Exchange Rate                $          38.74        $        38.74    $       38.74      $        40.85    $        40.85    $        41.39   $       41.39      $         38.99        $        38.99   $       39.85
                                                                                                                                   Load                  0                      0                0                   0                 0                 0               0                   0                      0               0
                                                                              $                             0          Net Exchange Cost        $              0        $            0    $           0      $            0    $            0    $            0   $           0      $             0        $            0   $           0
                                                                                                                                                         0.0000%               0.0000%          0.0000%             0.0000%           0.0000%          0.0000%          0.0000%             0.0000%               0.0000%          0.0000%
                                                                                                            0
                                                                              Idaho Power                                           ASC         $          36.62        $        37.28    $       33.86      $        33.96    $        34.34    $       34.60    $       34.99      $        35.25         $       35.52    $       35.78
                                                                                                                 In Lieu and/or ASC costs       $          36.62        $        37.28    $       33.86      $        33.96    $        34.34    $       34.60    $       34.99      $        35.25         $       35.52    $       35.78
                                                                                                                PF Exchange Rate                $          38.74        $        38.74    $       38.74      $        40.85    $        40.85    $       41.39    $       41.39      $        38.99         $       38.99    $       39.85
                                                                                                                                   Load                 843                    859              880                 900               917              922              935                 942                   949              956
                                                                              $                         -              Net Exchange Cost        $            -          $          -      $         -        $          -      $          -      $         -      $         -        $          -           $         -      $         -
                                                                                                                                                         0.0000%               0.0000%          0.0000%             0.0000%           0.0000%          0.0000%          0.0000%             0.0000%               0.0000%          0.0000%
                                                                                                     0
                                                                              Northwestern Energy PNWR                              ASC         $          51.83        $        52.87    $       54.84      $        55.36    $        56.06    $       56.85    $       57.72      $        58.15         $       58.59    $       59.03
                                                                                                                 In Lieu and/or ASC costs       $          51.83        $        52.87    $       54.84      $        55.36    $        56.06    $       56.85    $       57.72      $        58.15         $       58.59    $       59.03
                                                                                                                PF Exchange Rate                $          38.74        $        38.74    $       38.74      $        40.85    $        40.85    $       41.39    $       41.39      $        38.99         $       38.99    $       39.85
                                                                                                                                   Load                 105                    105              106                 107               108              108              110                 110                   111              112
                                                                              $                     14,945             Net Exchange Cost        $         11,993        $       12,999    $      14,945      $       13,578    $       14,397    $      14,714    $      15,671      $       18,531         $      19,095    $      18,873
                                                                                                                                                         3.0150%               3.2510%          2.5800%             2.7730%           2.8460%          2.9860%          3.1140%             3.0300%               3.0220%          3.0370%
                                                                                                            0
                                                                              Pacificorp                                            ASC         $          44.75        $        46.23    $       51.27      $       49.68     $       49.47     $       48.95    $       48.56      $        48.92         $       49.29    $       49.66
                                                                                                                 In Lieu and/or ASC costs       $          44.75        $        46.23    $       51.27      $       49.68     $       49.47     $       48.95    $       48.56      $        48.92         $       49.29    $       49.66
                                                                                                                PF Exchange Rate                $          38.74        $        38.74    $       38.74      $       40.85     $       40.85     $       41.39    $       41.39      $        38.99         $       38.99    $       39.85
                                                                                                                                   Load                 1102                   1108             1098               1105              1118              1126             1141               1150                   1158             1167
                                                                              $                    120,556             Net Exchange Cost        $         58,031        $       72,913    $     120,556      $      85,457     $      84,355     $      74,781    $      71,682      $      100,093         $     104,567    $     100,569
                                                                                                                                                        14.5900%              18.2340%         20.8150%           17.4500%          16.6770%          15.1770%         14.2440%            16.3650%              16.5510%         16.1830%
                                                                                                            0
                                                                              Portland General                                      ASC         $          50.68        $        49.35    $       55.61      $       56.01     $       56.43     $       56.43    $       56.59      $        57.01         $       57.44    $       57.87
                                                                                                                 In Lieu and/or ASC costs       $          50.68        $        49.35    $       55.61      $       56.01     $       56.43     $       56.43    $       56.59      $        57.01         $       57.44    $       57.87
                                                                                                                PF Exchange Rate                $          38.74        $        38.74    $       38.74      $       40.85     $       40.85     $       41.39    $       41.39      $        38.99         $       38.99    $       39.85
                                                                                                                                   Load                 956                    964              977                988               1003              1010             1025               1033                   1041             1048
                                                                              $                    144,441             Net Exchange Cost        $        100,028        $       89,863    $     144,441      $     131,115     $     136,877     $     133,392    $     136,497      $      163,102         $     168,223    $     165,958
                                                                                                                                                        25.1490%              22.4730%         24.9390%           26.7730%          27.0600%          27.0710%         27.1240%            26.6660%              26.6260%         26.7050%
                                                                                                            0
                                                                              Puget Sound Energy                                    ASC         $          54.28        $        53.37    $       59.71      $       59.72     $       60.36     $       60.92    $       61.56      $        62.02         $       62.49    $       62.96
                                                                                                                 In Lieu and/or ASC costs       $          54.28        $        53.37    $       59.71      $       59.72     $       60.36     $       60.92    $       61.56      $        62.02         $       62.49    $       62.96
                                                                                                                PF Exchange Rate                $          38.74        $        38.74    $       38.74      $       40.85     $       40.85     $       41.39    $       41.39      $        38.99         $       38.99    $       39.85
                                                                                                                                   Load                 1357                   1372             1355               1362              1370              1375             1388               1399                   1409             1420
                                                                              $                    248,928             Net Exchange Cost        $        184,725        $      176,291    $     248,928      $     225,167     $     234,155     $     235,891    $     245,336      $      282,284         $     290,144    $     288,186
                                                                                                                                                        46.4440%              44.0880%         42.9790%           45.9780%          46.2920%          47.8730%         48.7530%            46.1520%              45.9230%         46.3740%
                                                                                                            0
                                                                              Utility #1                                            ASC         $             35.64     $        36.45    $       35.56      $        36.71    $        36.68    $       38.27    $       38.26      $        38.55         $       38.84    $       39.13
                                                                                                                 In Lieu and/or ASC costs       $             35.64     $        36.45    $       35.56      $        36.71    $        36.68    $       38.27    $       38.26      $        38.55         $       38.84    $       39.13
                                                                                                                PF Exchange Rate                $             38.74     $        38.74    $       38.74      $        40.85    $        40.85    $       41.39    $       41.39      $        38.99         $       38.99    $       39.85
                                                                                                                                   Load                  77                     77               16                  16                17               17               17                 17                     17               18
                                                                              $                         -              Net Exchange Cost        $            -          $          -      $         -        $          -      $          -      $         -      $         -        $          -           $         -      $         -
                                                                                                                                                         0.0000%               0.0000%          0.0000%             0.0000%           0.0000%          0.0000%          0.0000%             0.0000%               0.0000%          0.0000%
                                                                                                            0
                                                                              Utility #2                                            ASC         $             41.36     $        42.25    $       45.74      $        47.59    $        47.24    $       50.01    $       49.62      $        49.99         $       50.37    $       50.74
                                                                                                                 In Lieu and/or ASC costs       $             41.36     $        42.25    $       45.74      $        47.59    $        47.24    $       50.01    $       49.62      $        49.99         $       50.37    $       50.74
                                                                                                                PF Exchange Rate                $             38.74     $        38.74    $       38.74      $        40.85    $        40.85    $       41.39    $       41.39      $        38.99         $       38.99    $       39.85
                                                                                                                                   Load                  59                     60               39                  40                41               41               42                 42                     43               43
                                                                              $                      2,399             Net Exchange Cost        $          1,356        $        1,840    $       2,399      $        2,362    $        2,277    $       3,123    $       3,035      $        4,089         $       4,260    $       4,120
                                                                                                                                                         0.3410%               0.4600%          0.4140%             0.4820%           0.4500%          0.6340%          0.6030%             0.6690%               0.6740%          0.6630%
                                                                                                            0
                                                                              Utility #3                                            ASC         $             37.97     $        38.80    $       38.08      $        39.63    $        39.81    $        41.76   $       41.97      $           42.28      $        42.60   $       42.92
                                                                                                                 In Lieu and/or ASC costs       $             37.97     $        38.80    $       38.08      $        39.63    $        39.81    $        41.76   $       41.97      $           42.28      $        42.60   $       42.92
                                                                                                                PF Exchange Rate                $             38.74     $        38.74    $       38.74      $        40.85    $        40.85    $        41.39   $       41.39      $           38.99      $        38.99   $       39.85
                                                                                                                                   Load                  0                      0                0                   0                 0                 0               0                   0                      0               0
                                                                              $                         -              Net Exchange Cost        $            -          $            0    $         -        $          -      $          -      $            0   $           0      $            0         $            0   $           0
                                                                                                                                                         0.0000%               0.0000%          0.0000%             0.0000%           0.0000%          0.0000%          0.0000%             0.0000%               0.0000%          0.0000%
                                                                                                            0
                                                                              Utility #4                                            ASC         $             45.23     $        46.00    $       47.02      $        47.72    $        48.37    $        49.02   $       49.68      $           50.05      $        50.43   $       50.81
                                                                                                                 In Lieu and/or ASC costs       $             45.23     $        46.00    $       47.02      $        47.72    $        48.37    $        49.02   $       49.68      $           50.05      $        50.43   $       50.81
                                                                                                                PF Exchange Rate                $             38.74     $        38.74    $       38.74      $        40.85    $        40.85    $        41.39   $       41.39      $           38.99      $        38.99   $       39.85
                                                                                                                                   Load                  0                      0                0                   0                 0                 0               0                   0                      0               0
                                                                              $                             0          Net Exchange Cost        $              0        $            0    $           0      $            0    $            0    $            0   $           0      $            0         $            0   $           0
                                                                                                                                                         0.0000%               0.0000%          0.0000%             0.0000%           0.0000%          0.0000%          0.0000%             0.0000%               0.0000%          0.0000%
                                                                                                            0
                                                                              Utility #5                                            ASC         $             48.65     $        49.91    $       50.88      $        51.94    $        53.11    $        54.30   $       55.58      $           56.00      $        56.42   $       56.84
                                                                                                                 In Lieu and/or ASC costs       $             48.65     $        49.91    $       50.88      $        51.94    $        53.11    $        54.30   $       55.58      $           56.00      $        56.42   $       56.84
                                                                                                                PF Exchange Rate                $             38.74     $        38.74    $       38.74      $        40.85    $        40.85    $        41.39   $       41.39      $           38.99      $        38.99   $       39.85
                                                                                                                                   Load                  0                      0                0                   0                 0                 0               0                   0                      0               0
                                                                              $                             0          Net Exchange Cost        $              0        $            0    $           0      $            0    $            0    $            0   $           0      $            0         $            0   $           0
                                                                                                                                                         0.0000%               0.0000%          0.0000%             0.0000%           0.0000%          0.0000%          0.0000%             0.0000%               0.0000%          0.0000%

                                                                                                                                                $        397,736        $      399,863    $     579,188      $      489,725    $      505,823    $     492,740    $     503,225      $      611,644         $     631,801    $     621,438



                                                                                                                Utility Percentage of Initial Net Benefits
                                                                                                                                                      FY 2007                 FY 2008          FY 2009            FY 2010           FY 2011           FY 2012          FY 2013            FY 2014                FY 2015          FY 2016
                                                                                                                Avista                                   10.460%               11.493%           8.273%              6.544%            6.675%           6.259%           6.161%              7.119%                7.203%           7.037%
                                                                                                                Clark County PUD                          0.000%                0.000%           0.000%              0.000%            0.000%           0.000%           0.000%              0.000%                0.000%           0.000%
                                                                                                                Idaho Power                               0.000%                0.000%           0.000%              0.000%            0.000%           0.000%           0.000%              0.000%                0.000%           0.000%
                                                                                                                Northwestern Energy PNWR                  3.015%                3.251%           2.580%              2.773%            2.846%           2.986%           3.114%              3.030%                3.022%           3.037%
                                                                                                                Pacificorp                               14.590%               18.234%          20.815%             17.450%           16.677%          15.177%          14.244%             16.365%               16.551%          16.183%
                                                                                                                Portland General                         25.149%               22.473%          24.939%             26.773%           27.060%          27.071%          27.124%             26.666%               26.626%          26.705%
                                                                                                                Puget Sound Energy                       46.444%               44.088%          42.979%             45.978%           46.292%          47.873%          48.753%             46.152%               45.923%          46.374%
                                                                                                                Utility #1                                0.000%                0.000%           0.000%              0.000%            0.000%           0.000%           0.000%              0.000%                0.000%           0.000%
                                                                                                                Utility #2                                0.341%                0.460%           0.414%              0.482%            0.450%           0.634%           0.603%              0.669%                0.674%           0.663%
                                                                                                                Utility #3                                0.000%                0.000%           0.000%              0.000%            0.000%           0.000%           0.000%              0.000%                0.000%           0.000%
                                                                                                                Utility #4                                0.000%                0.000%           0.000%              0.000%            0.000%           0.000%           0.000%              0.000%                0.000%           0.000%
                                                                                                                Utility #5                                0.000%                0.000%           0.000%              0.000%            0.000%           0.000%           0.000%              0.000%                0.000%           0.000%




                                                                                                                7b3 and 7c2 Allocation Amount and Utility Allocations
                                                                                                                                           $       240,430      $     271,613             $     312,318      $      321,801    $      320,875    $     351,147    $     350,727      $      455,553         $     460,471    $     463,252




D:\Docstoc\Working\pdf\fecdeba0-4783-4e06-961e-50c9835395d4.xlsPub Exchange
                                                                                                                                            FY 2007                FY 2008               FY 2009              FY 2010              FY 2011               FY 2012               FY 2013              FY 2014                FY 2015               FY 2016
                                                                                                          Avista                       $        25,149        $       31,216        $       25,838        $      21,059        $      21,418        $       21,978        $       21,608        $      32,431         $       33,168        $       32,599
                                                                                                          Clark County PUD             $           -          $          -          $          -          $         -          $         -          $          -          $          -          $         -           $          -          $          -
                                                                                                          Idaho Power                  $           -          $          -          $          -          $         -          $         -          $          -          $          -          $         -           $          -          $          -
                                                                                                          Northwestern Energy PNWR     $         7,249        $        8,830        $        8,058        $       8,924        $       9,132        $       10,485        $       10,922        $      13,803         $       13,915        $       14,069
                                                                                                          Pacificorp                   $        35,079        $       49,526        $       65,009        $      56,154        $      53,512        $       53,294        $       49,958        $      74,551         $       76,212        $       74,968
                                                                                                          Portland General             $        60,466        $       61,040        $       77,889        $      86,156        $      86,829        $       95,059        $       95,131        $     121,478         $      122,605        $      123,711
                                                                                                          Puget Sound Energy           $       111,665        $      119,749        $      134,231        $     147,958        $     148,539        $      168,104        $      170,990        $     210,247         $      211,462        $      214,828
                                                                                                          Utility #1                   $           -          $          -          $          -          $         -          $         -          $          -          $          -          $         -           $          -          $          -
                                                                                                          Utility #2                   $           820        $        1,249        $        1,293        $       1,551        $       1,444        $        2,226        $        2,115        $       3,048         $        3,104        $        3,071
                                                                                                          Utility #3                   $           -          $          -          $          -          $         -          $         -          $          -          $          -          $         -           $          -          $          -
                                                                                                          Utility #4                   $           -          $          -          $          -          $         -          $         -          $          -          $          -          $         -           $          -          $          -
                                                                                                          Utility #5                   $           -          $          -          $          -          $         -          $         -          $          -          $          -          $         -           $          -          $          -




                                                                                                          Utility Exchangeable Load GWH
                                                                                                                                            FY 2007                FY 2008               FY 2009              FY 2010              FY 2011               FY 2012               FY 2013              FY 2014                FY 2015               FY 2016
                                                                                                          Avista                             3981                    4067                  4152                4236                 4309                  4356                   4416                4450                   4483                   4529
                                                                                                          Clark County PUD                     0                      0                     0                    0                    0                     0                     0                   0                       0                     0
                                                                                                          Idaho Power                        7380                    7543                  7707                7884                 8030                  8099                   8193                8254                   8316                   8401
                                                                                                          Northwestern Energy PNWR            916                    920                   928                  936                  947                   952                   960                 967                     974                   984
                                                                                                          Pacificorp                         9656                    9735                  9621                9683                 9791                  9891                   9997               10072                   10148                 10252
                                                                                                          Portland General                   8378                    8470                  8562                8651                 8788                  8869                   8980                9047                   9115                   9209
                                                                                                          Puget Sound Energy                 11887                  12050                 11871                11935                12005                 12078                 12163               12254                   12346                 12473
                                                                                                          Utility #1                          672                    681                   143                  145                  146                   148                   150                 151                     152                   154
                                                                                                          Utility #2                          518                    524                   343                  351                  357                   362                   369                 372                     374                   378
                                                                                                          Utility #3                         3691                    3737                  3676                3717                 3763                  3813                   3859                3888                   3918                   3958
                                                                                                          Utility #4                           0                      0                     0                    0                    0                     0                     0                   0                       0                     0
                                                                                                          Utility #5                           0                      0                     0                    0                    0                     0                     0                   0                       0                     0




                                                                                                          Utility Supplemental 7b3 Charge
                                                                                                                                            FY 2007                FY 2008               FY 2009              FY 2010              FY 2011               FY 2012               FY 2013              FY 2014                FY 2015               FY 2016
                                                                                                          Avista                       $              6.32    $           7.68      $         6.22        $        4.97        $        4.97        $         5.05        $         4.89        $           7.29      $         7.40        $         7.20
                                                                                                          Clark County PUD             $               -      $            -        $          -          $         -          $         -          $          -          $          -          $            -        $          -          $          -
                                                                                                          Idaho Power                  $               -      $            -        $          -          $         -          $         -          $          -          $          -          $            -        $          -          $          -
                                                                                                          Northwestern Energy PNWR     $              7.91    $           9.60      $         8.68        $        9.53        $        9.64        $        11.01        $        11.38        $          14.27      $        14.29        $        14.30
                                                                                                          Pacificorp                   $              3.63    $           5.09      $         6.76        $        5.80        $        5.47        $         5.39        $         5.00        $           7.40      $         7.51        $         7.31
                                                                                                          Portland General             $              7.22    $           7.21      $         9.10        $        9.96        $        9.88        $        10.72        $        10.59        $          13.43      $        13.45        $        13.43
                                                                                                          Puget Sound Energy           $              9.39    $           9.94      $        11.31        $       12.40        $       12.37        $        13.92        $        14.06        $          17.16      $        17.13        $        17.22
                                                                                                          Utility #1                   $               -      $            -        $          -          $         -          $         -          $          -          $          -          $            -        $          -          $          -
                                                                                                          Utility #2                   $              1.58    $           2.38      $         3.77        $        4.42        $        4.04        $         6.15        $         5.73        $           8.19      $         8.30        $         8.12
                                                                                                          Utility #3                   $               -      $            -        $          -          $         -          $         -          $          -          $          -          $            -        $          -          $          -
                                                                                                          Utility #4                   $               -      $            -        $          -          $         -          $         -          $          -          $          -          $            -        $          -          $          -
                                                                                                          Utility #5                   $               -      $            -        $          -          $         -          $         -          $          -          $          -          $            -        $          -          $          -




                                                                                                          Utility PF Exchange Rate
                                                                                                                                            FY 2007                FY 2008               FY 2009              FY 2010              FY 2011               FY 2012               FY 2013              FY 2014                FY 2015               FY 2016
                                                                                                          Avista                       $         45.06        $        46.42        $        44.96        $       43.71        $       43.71        $        43.79        $        43.63        $          46.03      $        46.14        $        45.94
                                                                                                          Clark County PUD             $         38.74        $        38.74        $        38.74        $       38.74        $       38.74        $        38.74        $        38.74        $          38.74      $        38.74        $        38.74
                                                                                                          Idaho Power                  $         38.74        $        38.74        $        38.74        $       38.74        $       38.74        $        38.74        $        38.74        $          38.74      $        38.74        $        38.74
                                                                                                          Northwestern Energy PNWR     $         46.65        $        48.34        $        47.42        $       48.27        $       48.38        $        49.75        $        50.12        $          53.01      $        53.03        $        53.04
                                                                                                          Pacificorp                   $         42.37        $        43.83        $        45.50        $       44.54        $       44.21        $        44.13        $        43.74        $          46.14      $        46.25        $        46.05
                                                                                                          Portland General             $         45.96        $        45.95        $        47.84        $       48.70        $       48.62        $        49.46        $        49.33        $          52.17      $        52.19        $        52.17
                                                                                                          Puget Sound Energy           $         48.13        $        48.68        $        50.05        $       51.14        $       51.11        $        52.66        $        52.80        $          55.90      $        55.87        $        55.96
                                                                                                          Utility #1                   $         38.74        $        38.74        $        38.74        $       38.74        $       38.74        $        38.74        $        38.74        $          38.74      $        38.74        $        38.74
                                                                                                          Utility #2                   $         40.32        $        41.12        $        42.51        $       43.16        $       42.78        $        44.89        $        44.47        $          46.93      $        47.04        $        46.86
                                                                                                          Utility #3                   $         38.74        $        38.74        $        38.74        $       38.74        $       38.74        $        38.74        $        38.74        $          38.74      $        38.74        $        38.74
                                                                                                          Utility #4                   $         38.74        $        38.74        $        38.74        $       38.74        $       38.74        $        38.74        $        38.74        $          38.74      $        38.74        $        38.74
                                                                                                          Utility #5                   $         38.74        $        38.74        $        38.74        $       38.74        $       38.74        $        38.74        $        38.74        $          38.74      $        38.74        $        38.74




                                                                                                          New Allocation Scheme Net Exchange Benefits
                                                                                                                                            FY 2007                FY 2008               FY 2009              FY 2010              FY 2011               FY 2012               FY 2013              FY 2014                FY 2015               FY 2016
                                                                                                          Avista                       $        16,442        $       14,723        $       22,091        $      19,951        $      21,458        $       20,384        $       21,110        $         -           $          -          $          -
                                                                                                          Clark County PUD             $             0        $            0        $            0        $           0        $           0        $            0        $            0        $         -           $          -          $          -
                                                                                                          Idaho Power                  $           -          $          -          $          -          $         -          $         -          $          -          $          -          $         -           $          -          $          -
                                                                                                          Northwestern Energy PNWR     $         4,746        $        4,167        $        6,888        $       6,637        $       7,272        $        6,757        $        7,293        $       7,240         $        6,549        $        6,801
                                                                                                          Pacificorp                   $        22,981        $       23,363        $       55,515        $      49,771        $      51,502        $       47,677        $       48,186        $         -           $          -          $          -
                                                                                                          Portland General             $        39,542        $       28,797        $       66,527        $      63,241        $      68,634        $       61,817        $       65,194        $      57,451         $       50,824        $       53,031
                                                                                                          Puget Sound Energy           $        73,106        $       56,514        $      114,671        $     102,406        $     111,042        $       99,766        $      106,550        $     139,179         $      131,126        $      135,053
                                                                                                          Utility #1                   $           -          $          -          $          -          $         -          $         -          $          -          $          -          $         -           $          -          $          -
                                                                                                          Utility #2                   $           538        $          592        $        1,107        $       1,553        $       1,591        $        1,855        $        1,899        $         -           $          -          $          -
                                                                                                          Utility #3                   $           -          $            0        $          -          $           0        $           0        $            0        $            0        $         -           $          -          $          -
                                                                                                          Utility #4                   $             0        $            0        $            0        $           0        $           0        $            0        $            0        $         -           $          -          $          -
                                                                                                          Utility #5                   $             0        $            0        $            0        $           0        $           0        $            0        $            0        $           0         $            0        $            0


                                                                                                                                            2                         3                     4                    5                    6                     7                     8                    9                     10                    11
                                                                                                          IOU New Allocation Scheme Net Exchange Benefits
                                                                                                                                            FY 2007                FY 2008               FY 2009              FY 2010              FY 2011               FY 2012               FY 2013              FY 2014                FY 2015               FY 2016
                                                                                                          Avista                       $        16,442        $       14,723        $       22,091        $      19,951        $      21,458        $       20,384        $       21,110        $         -           $          -          $          -
                                                                                                          Idaho Power                  $           -          $          -          $          -          $         -          $         -          $          -          $          -          $         -           $          -          $          -
                                                                                                          Northwestern Energy PNWR     $         4,746        $        4,167        $        6,888        $       6,637        $       7,272        $        6,757        $        7,293        $       7,240         $        6,549        $        6,801
                                                                                                          Pacificorp                   $        22,981        $       23,363        $       55,515        $      49,771        $      51,502        $       47,677        $       48,186        $         -           $          -          $          -
                                                                                                          Portland General             $        39,542        $       28,797        $       66,527        $      63,241        $      68,634        $       61,817        $       65,194        $      57,451         $       50,824        $       53,031
                                                                                                          Puget Sound Energy           $        73,106        $       56,514        $      114,671        $     102,406        $     111,042        $       99,766        $      106,550        $     139,179         $      131,126        $      135,053
                                                                                                                                       $       156,816        $      127,565        $      265,691        $     242,005        $     259,908        $      236,401        $      248,334        $     203,870         $      188,499        $      194,886


                                                                                                                                              2                       3                     4                    5                    6                     7                     8                    9                     10                    11
                                                                                                          Public New Allocation Scheme Net Exchange Benefits
                                                                                                                                            FY 2007                FY 2008               FY 2009              FY 2010              FY 2011               FY 2012               FY 2013              FY 2014                FY 2015               FY 2016
                                                                                                          Clark County PUD             $                0     $             0       $            0        $           0        $           0        $            0        $            0        $             -       $           -         $           -
                                                                                                          Utility #1                   $              -       $           -         $          -          $         -          $         -          $          -          $          -          $             -       $           -         $           -
                                                                                                          Utility #2                   $              538     $           592       $        1,107        $       1,553        $       1,591        $        1,855        $        1,899        $             -       $           -         $           -
                                                                                                          Utility #3                   $              -       $             0       $          -          $           0        $           0        $            0        $            0        $             -       $           -         $           -
                                                                                                          Utility #4                   $                0     $             0       $            0        $           0        $           0        $            0        $            0        $             -       $           -         $           -
                                                                                                          Utility #5                   $                0     $             0       $            0        $           0        $           0        $            0        $            0        $                 0   $               0     $               0
                                                                                                                                       $              538     $           592       $        1,107        $       1,553        $       1,591        $        1,855        $        1,899        $                 0   $               0     $               0




                                                                                                          Avista                       $       179,392        $      188,795        $      186,674        $     185,156        $     188,346        $      190,749        $      192,670        $     204,834         $      206,846        $      208,056
                                                                                                          Clark County PUD             $           -          $          -          $          -          $         -          $         -          $          -          $          -          $         -           $          -          $          -
                                                                                                          Idaho Power                  $           -          $          -          $          -          $         -          $         -          $          -          $          -          $         -           $          -          $          -
                                                                                                          Northwestern Energy PNWR     $        42,739        $       44,470        $       44,006        $      45,181        $      45,816        $       47,362        $       48,115        $      51,261         $       51,651        $       52,197
                                                                                                          Pacificorp                   $       409,111        $      426,671        $      437,756        $     431,281        $     432,860        $      436,490        $      437,269        $     464,722         $      469,345        $      472,093
                                                                                                          Portland General             $       385,032        $      389,180        $      409,606        $     421,304        $     427,273        $      438,661        $      442,983        $     471,982         $      475,712        $      480,413
                                                                                                          Puget Sound Energy           $       572,125        $      586,592        $      594,144        $     610,356        $     613,576        $      636,027        $      642,206        $     684,999         $      689,771        $      697,993
                                                                                                          Utility #1                   $           -          $          -          $          -          $         -          $         -          $          -          $          -          $         -           $          -          $          -
                                                                                                          Utility #2                   $        20,871        $       21,551        $       14,581        $      15,149        $      15,272        $       16,250        $       16,409        $      17,458         $       17,593        $       17,720
                                                                                                          Utility #3                   $           -          $          -          $          -          $         -          $         -          $          -          $          -          $         -           $          -          $          -
                                                                                                          Utility #4                   $           -          $          -          $          -          $         -          $         -          $          -          $          -          $         -           $          -          $          -
                                                                                                          Utility #5                   $           -          $          -          $          -          $         -          $         -          $          -          $          -          $         -           $          -          $          -

                                                                                                                                       $ 1,609,269.32             ###########           ###########       $1,708,425.86        $1,723,142.93            ###########           ###########       $ 1,895,254.80            ###########           ###########
                                                                                                                                            35,335.26               35,765.41             35,477.49           35,792.28            36,196.07              36,508.23             36,885.05            37,161.69              37,440.40             37,824.55
                                                                                                    Load Weighted PF Exchange Rate     $        45.54         $         46.34       $         47.54       $       47.73        $       47.61        $         48.36       $         48.25       $        51.00        $         51.04       $         50.98

                                                                                                         Increase in Exchanger loads          0%
                                                                                                         Increase in Exchanger ASCs           0%                                                                                                                                                Remove Public Exchange? 1 or 0                      0
                                                                                                                                                       2007                  2008                  2009                 2010                 2011                  2012                  2013                 2007                   2008                  2009     2010     2011      2012      2013


                                                                                        IOU               Avista                                 49.19                 50.04                 50.28                48.42                48.69                 48.47                 48.41                 454.5                 463.0                 474.0         483.5    491.9     495.9     504.2
                                                                                        IOU               Idaho Power                            36.62                 37.28                 33.86                33.96                34.34                 34.60                 34.99                 842.5                 858.7                 879.8         900.0    916.7     922.1     935.2
                                                                                        IOU               Northwestern Energy PNWR               51.83                 52.87                 54.84                55.36                56.06                 56.85                 57.72                 104.6                 104.7                 106.0         106.9    108.1     108.3     109.6
                                                                                        IOU               Pacificorp                             44.75                 46.23                 51.27                49.68                49.47                 48.95                 48.56                1102.2                1108.2                1098.3        1105.4   1117.7    1126.1    1141.2
                                                                                        IOU               Portland General                       50.68                 49.35                 55.61                56.01                56.43                 56.43                 56.59                 956.3                 964.2                 977.4         987.6   1003.2    1009.7    1025.1
                                                                                        IOU               Puget Sound Energy                     54.28                 53.37                 59.71                59.72                60.36                 60.92                 61.56                1357.0                1371.8                1355.1        1362.5   1370.4    1375.0    1388.5
                                                                                        PUD               Clark County PUD                       48.92                 50.31                 46.02                45.60                45.67                 46.97                 48.64                   0.0                   0.0                   0.0           0.0      0.0       0.0       0.0
                                                                                        PUD               Utility #1                             35.64                 36.45                 35.56                36.71                36.68                 38.27                 38.26                  76.7                  77.5                  16.3          16.5     16.7      16.9      17.1
                                                                                        PUD               Utility #2                             41.36                 42.25                 45.74                47.59                47.24                 50.01                 49.62                  59.1                  59.7                  39.1          40.0     40.7      41.2      42.1
                                                                                        PUD               Utility #3                             37.97                 38.80                 38.08                39.63                39.81                 41.76                 41.97                 421.3                 425.4                 419.6         424.3    429.6     434.1     440.6
                                                                                        PUD               Utility #4                             45.23                 46.00                 47.02                47.72                48.37                 49.02                 49.68                   0.0                   0.0                   0.0           0.0      0.0       0.0       0.0
                                                                                        PUD               Utility #5                             48.65                 49.91                 50.88                51.94                53.11                 54.30                 55.58                   0.0                   0.0                   0.0           0.0      0.0       0.0       0.0


                                                                                                                                                       2007                  2008                  2009                 2010                 2011                  2012                  2013                 2007                   2008                  2009     2010     2011      2012      2013
                                                                                    Type Ctrl "s"
                                                                                        IOU               Avista                                 49.19                 50.04                 50.28                48.42                48.69                 48.47                 48.41                 454.5                 463.0                 474.0         483.5    491.9     495.9     504.2
                                                                                        IOU               Idaho Power                            36.62                 37.28                 33.86                33.96                34.34                 34.60                 34.99                 842.5                 858.7                 879.8         900.0    916.7     922.1     935.2
                                                                                        IOU               Northwestern Energy PNWR               51.83                 52.87                 54.84                55.36                56.06                 56.85                 57.72                 104.6                 104.7                 106.0         106.9    108.1     108.3     109.6
                                                                                        IOU               Pacificorp                             44.75                 46.23                 51.27                49.68                49.47                 48.95                 48.56                1102.2                1108.2                1098.3        1105.4   1117.7    1126.1    1141.2
                                                                                        IOU               Portland General                       50.68                 49.35                 55.61                56.01                56.43                 56.43                 56.59                 956.3                 964.2                 977.4         987.6   1003.2    1009.7    1025.1
                                                                                        IOU               Puget Sound Energy                     54.28                 53.37                 59.71                59.72                60.36                 60.92                 61.56                1357.0                1371.8                1355.1        1362.5   1370.4    1375.0    1388.5
                                                                                       PUD                Clark County PUD                       48.92                 50.31                 46.02                45.60                45.67                 46.97                 48.64                 280.6                 279.8                 280.6         280.6    280.6     279.8     280.6
                                                                                       PUD                Utility #1                             35.64                 36.45                 35.56                36.71                36.68                 38.27                 38.26                   77                    77                    16            16       17        17        17
                                                                                       PUD                Utility #2                             41.36                 42.25                 45.74                47.59                47.24                 50.01                 49.62                   59                    60                    39            40       41        41        42
                                                                                       PUD                Utility #3                             37.97                 38.80                 38.08                39.63                39.81                 41.76                 41.97                  421                   425                   420           424      430       434       441
                                                                                       PUD                Utility #4                             45.23                 46.00                 47.02                47.72                48.37                 49.02                 49.68                   0.0                   0.0                   0.0           0.0      0.0       0.0       0.0
                                                                                       PUD                Utility #5                             48.65                 49.91                 50.88                51.94                53.11                 54.30                 55.58                   0.0                   0.0                   0.0           0.0      0.0       0.0       0.0


                                                                                                                                                                                                                                                                                                                            2,963.98                                                27420.2
                                                                              ASC Scenario
                                                                                          5                E&T IN TX IN                                                                                                                                                                                    check                  0.0
                                                                                        check                                                          2007                  2008                  2009                 2010                 2011                  2012                  2013                                                                                       27420.2
                                                                                          0               Avista                                 49.19                 50.04                 50.28                48.42                48.69                 48.47                 48.41
                                                                                          0               Idaho Power                            36.62                 37.28                 33.86                33.96                34.34                 34.60                 34.99
                                                                                          0               Northwestern Energy PNWR               51.83                 52.87                 54.84                55.36                56.06                 56.85                 57.72
                                                                                          0               Pacificorp                             44.75                 46.23                 51.27                49.68                49.47                 48.95                 48.56
                                                                                          0               Portland General                       50.68                 49.35                 55.61                56.01                56.43                 56.43                 56.59
                                                                                          0               Puget Sound Energy                     54.28                 53.37                 59.71                59.72                60.36                 60.92                 61.56                                    2,963.98
                                                                                          0               Utility #1                             35.64                 36.45                 35.56                36.71                36.68                 38.27                 38.26                   check                 -
                                                                                                          Utility #2                             41.36                 42.25                 45.74                47.59                47.24                 50.01                 49.62
                                                                                                          Utility #3                             37.97                 38.80                 38.08                39.63                39.81                 41.76                 41.97

                                                                                             0             BASE CASE
                                                                                                                                                       2007                  2008                  2009                 2010                 2011                  2012                  2013
                                                                                                          Avista                                 48.57                 49.19                 49.68                50.47                51.92                 53.44                 55.04
                                                                                                          Idaho Power                            31.59                 32.56                 33.69                34.93                36.14                 37.18                 38.34
                                                                                                          Northwestern Energy PNWR               42.56                 43.48                 44.54                45.70                46.88                 48.03                 49.27
                                                                                                          Pacificorp                             49.27                 50.05                 50.88                51.86                53.02                 54.22                 55.48
                                                                                                          Portland General                       51.21                 51.68                 52.58                53.65                54.95                 56.31                 57.73
                                                                                                          Puget Sound Energy                     60.57                 61.18                 62.17                63.33                64.67                 66.05                 67.43                                    2,111.48




                                                                                             0             E&T OUT TX IN
                                                                                                                                                       2007                  2008                  2009                 2010                 2011                  2012                  2013
                                                                                                          Avista                                 47.77                 48.39                 48.87                49.67                51.11                 52.63                 52.80
                                                                                                          Idaho Power                            29.71                 30.67                 31.80                33.04                34.25                 35.30                 36.46
                                                                                                          Northwestern Energy PNWR               48.21                 49.13                 50.19                51.35                52.53                 53.68                 54.92
                                                                                                          Pacificorp                             48.06                 48.85                 49.67                50.65                51.81                 53.01                 54.28
                                                                                                          Portland General                       50.26                 50.74                 51.64                52.70                54.00                 55.36                 56.78
                                                                                                          Puget Sound Energy                     57.69                 58.30                 59.29                60.44                61.78                 63.16                 64.54                                    2,095.49




                                                                                             0             E&T OUT TX OUT w/ WHLG IN
                                                                                                                                                       2007                  2008                  2009                 2010                 2011                  2012                  2013
                                                                                                          Avista                                 42.95                 43.56                 44.04                44.82                46.22                 47.69                 47.78
                                                                                                          Idaho Power                            24.33                 25.29                 26.42                27.66                28.86                 29.87                 30.95
                                                                                                          Northwestern Energy PNWR               37.75                 38.56                 39.42                40.42                41.39                 42.40                 43.40
                                                                                                          Pacificorp                             45.69                 44.66                 43.86                44.74                45.80                 46.94                 48.14
                                                                                                          Portland General                       48.29                 48.72                 49.57                50.66                51.88                 53.20                 54.54
                                                                                                          Puget Sound Energy                     55.93                 56.50                 57.45                58.56                59.83                 61.15                 62.46                                    1,882.36




                                                                                             0             E&T OUT TX OUT w/ WHLG OUT
                                                                                                                                                       2007                  2008                  2009                 2010                 2011                  2012                  2013
                                                                                                          Avista                                 41.66                 42.27                 42.75                43.53                44.94                 46.42                 46.50
                                                                                                          Idaho Power                            23.80                 24.77                 25.90                27.13                28.33                 29.34                 30.41
                                                                                                          Northwestern Energy PNWR               36.51                 37.33                 38.19                39.19                40.17                 41.17                 42.18
                                                                                                          Pacificorp                             40.23                 40.96                 41.68                42.56                43.62                 44.75                 45.96
                                                                                                          Portland General                       44.83                 45.26                 46.11                47.10                48.32                 49.64                 50.97
                                                                                                          Puget Sound Energy                     53.45                 54.02                 54.97                56.08                57.36                 58.67                 59.98                                    1,799.01




                                                                                             1             E&T IN TX IN
                                                                                                                                                       2007                  2008                  2009                 2010                 2011                  2012                  2013
                                                                                                          Avista                                 49.19                 50.04                 50.28                48.42                48.69                 48.47                 48.41
                                                                                                          Idaho Power                            36.62                 37.28                 33.86                33.96                34.34                 34.60                 34.99
                                                                                                          Northwestern Energy PNWR               51.83                 52.87                 54.84                55.36                56.06                 56.85                 57.72
                                                                                                          Pacificorp                             44.75                 46.23                 51.27                49.68                49.47                 48.95                 48.56
                                                                                                          Portland General                       50.68                 49.35                 55.61                56.01                56.43                 56.43                 56.59
                                                                                                          Puget Sound Energy                     54.28                 53.37                 59.71                59.72                60.36                 60.92                 61.56                                    2,963.98
                                                                                                          Utility #1                             35.64                 36.45                 35.56                36.71                36.68                 38.27                 38.26
                                                                                                          Utility #2                             41.36                 42.25                 45.74                47.59                47.24                 50.01                 49.62
                                                                                                          Utility #3                             37.97                 38.80                 38.08                39.63                39.81                 41.76                 41.97
                                                                                             0             E&T IN TX OUT w/ WHLG IN
                                                                                                                                                       2007                  2008                  2009                 2010                 2011                  2012                  2013
                                                                                                          Avista                                 45.52                 46.37                 46.99                47.43                48.19                 49.60                 51.08
                                                                                                          Idaho Power                            31.21                 31.88                 32.84                33.96                35.19                 36.39                 37.44
                                                                                                          Northwestern Energy PNWR               42.31                 43.25                 44.17                45.26                46.45                 47.65                 48.83
                                                                                                          Pacificorp                             36.89                 38.51                 39.79                41.09                42.55                 44.84                 46.83
                                                                                                          Portland General                       49.11                 47.77                 48.33                49.27                50.37                 51.72                 53.09
                                                                                                          Puget Sound Energy                     52.53                 51.60                 52.28                53.32                54.51                 55.87                 57.26                                    1,909.55




                                                                                             0             E&T IN TX OUT w/ WHLG OUT
                                                                                                                                                       2007                  2008                  2009                 2010                 2011                  2012                  2013
                                                                                                          Avista                                 43.78                 44.62                 45.24                45.68                46.43                 47.83                 49.28
                                                                                                          Idaho Power                            30.71                 31.38                 32.34                33.46                34.70                 35.90                 36.94
                                                                                                          Northwestern Energy PNWR               40.98                 41.90                 42.79                43.86                45.02                 46.21                 47.36
                                                                                                          Pacificorp                             33.03                 34.40                 35.22                36.02                36.99                 38.21                 39.46
                                                                                                          Portland General                       45.26                 43.88                 44.41                45.30                46.35                 47.66                 48.98
                                                                                                          Puget Sound Energy                     50.38                 49.44                 50.10                51.13                52.30                 53.63                 54.99                                    2,544.18
                                                                                                          Utility #1                             28.95                 29.70                 30.54                31.49                32.53                 33.60                 34.69
                                                                                                          Utility #2                             33.53                 34.34                 35.24                36.27                37.40                 38.52                 39.66
                                                                                                          Utility #3                             34.86                 35.66                 36.55                37.57                38.68                 39.83                 41.00
                                                                                                           E&T IN TX OUT w/ WHLG OUT
                                                                                                                                                       2007                  2008                  2009                 2010                 2011                  2012                  2013
                                                                                                          Utility #1                                   77                  77                    79                   80                   81                    81                    83
                                                                                                          Utility #2                                   59                  60                    61                   61                   62                    63                    64
                                                                                                          Utility #3                                  421                 425                   432                  437                  443                   447                   454


                                                                                                           E&T IN TX IN
                                                                                                                                                       2007                  2008                  2009                 2010                 2011                  2012                  2013
                                                                                                          Utility #1                             76.73                 77.47                 78.66                79.64                80.64                 81.42                 82.66
                                                                                                          Utility #2                             59.09                 59.67                 60.58                61.33                62.10                 62.70                 63.66
                                                                                                          Utility #3                            421.34                425.44                431.94               437.34               442.81                447.12                453.95




                                                                                                          Base Case                                    2007                  2008                  2009                 2010                 2011                  2012                  2013                 2007                   2008                  2009     2010     2011      2012      2013


                                                                                                          Avista                                 48.57                 49.19                 49.68                50.47                51.92                 53.44                 55.04                 454.5                 463.0                 474.0         483.5    491.9     495.9     504.2
                                                                                                          Idaho Power                            31.59                 32.56                 33.69                34.93                36.14                 37.18                 38.34                 842.5                 858.7                 879.8         900.0    916.7     922.1     935.2
                                                                                                          Northwestern Energy PNWR               42.56                 43.48                 44.54                45.70                46.88                 48.03                 49.27                 104.6                 104.7                 106.0         106.9    108.1     108.3     109.6
                                                                                                          Pacificorp                             49.27                 50.05                 50.88                51.86                53.02                 54.22                 55.48                1102.2                1108.2                1123.3        1136.2   1154.4    1169.1    1187.7
                                                                                                          Portland General                       51.21                 51.68                 52.58                53.65                54.95                 56.31                 57.73                 956.3                 964.2                 977.4         987.6   1003.2    1009.7    1025.1
                                                                                                          Puget Sound Energy                     60.57                 61.18                 62.17                63.33                64.67                 66.05                 67.43                1357.0                1371.8                1393.5        1410.7   1423.5    1432.0    1459.9
                                                                                                          Clark County PUD                       48.92                 50.31                 46.02                45.60                45.67                 46.97                 48.64                 280.6                 279.8                 280.6         280.6    280.6     279.8     280.6
                                                                                                          Utility #1                             44.17                 44.57                 43.01                40.79                38.22                 36.53                 34.80                  75.7                  75.6                  75.9          76.0     76.0      75.9      76.2
                                                                                                          Utility #3                             59.34                 64.34                 65.59                65.98                66.78                 68.37                 70.06                  64.6                  64.9                  65.5          66.0     66.5      66.8      67.4
                                                                                                          Utility #4                             45.23                 46.00                 47.02                47.72                48.37                 49.02                 49.68                  36.5                  36.6                  36.9          37.0     37.2      37.2      37.5
                                                                                                          Utility #5                             48.65                 49.91                 50.88                51.94                53.11                 54.30                 55.58                 388.1                 391.2                 396.5         400.9    405.3     408.6     414.2
                                                                                                          Utility #2                             46.37                 50.50                 51.80                52.69                53.78                 54.95                 56.13                  32.0                  32.3                  32.7          33.1     33.5      33.7      34.2

                                                                                                                                                                                                                                                                                                                                                                                              25435.4


                                                                                                                                                       2007                  2008                  2009                 2010                 2011                  2012                  2013


                                                                                                          Avista                                  454.5                463.0                 474.0                 483.5                491.9                495.9                 504.2
                                                                                                          Idaho Power                             842.5                858.7                 879.8                 900.0                916.7                922.1                 935.2
                                                                                                          Northwestern Energy PNWR                104.6                104.7                 106.0                 106.9                108.1                108.3                 109.6
                                                                                                          Pacificorp                             1102.2               1108.2                1123.3                1136.2               1154.4               1169.1                1187.7
                                                                                                          Portland General                        956.3                964.2                 977.4                 987.6               1003.2               1009.7                1025.1
                                                                                                          Puget Sound Energy                     1357.0               1371.8                1393.5                1410.7               1423.5               1432.0                1459.9

                                                                                                                                                                                                                                                                                 25435.4




D:\Docstoc\Working\pdf\fecdeba0-4783-4e06-961e-50c9835395d4.xlsPub Exchange
                                     FY 2007        FY 2008        FY 2009


                     Non-Slice $ 3,238,573        $ 3,197,251    $ 3,399,875

                                   $ 3,238,573    $ 3,197,251    $ 3,399,875

                         11093           97176          98522          98601

 UNBIFURCATED PF                          33.33          32.45          34.48

Conservation in PF                         1.54           1.57           1.47

Adjusted PF                               31.79          30.88          33.01


                                     FY 2007        FY 2008        FY 2009


                     Non-Slice $ 1,237,429        $ 1,193,960    $ 1,371,934

                                   $ 1,237,429    $ 1,193,960    $ 1,371,934

                          7301           63953          65179          63581

7b2 Case PF                               19.35          18.32          21.58


                     Delta                12.44          12.56          11.43

                                     FY 2007        FY 2008        FY 2009


    FY2007-08 test                       0.9375         0.8832         0.8290

Discounted Adjusted PF                    29.80          27.27          27.37
Discounted 7b2 Case PF                    18.14          16.18          17.89


                                     FY 2007        FY 2008        FY 2009


                     FY2009 test                                       0.9386

                     Discounted Adjusted PF                             30.98
                     Discounted 7b2 Case PF                              20.25


                                  FY 2007          FY 2008          FY 2009


                                                FY2011-12 test


                                                Discounted Adjusted PF
                                                Discounted 7b2 Case PF


                                  FY 2007          FY 2008          FY 2009


   FY2007-09 test                     0.9375           0.8832           0.8290

Discounted Adjusted PF                 29.80            27.27            27.37
Discounted 7b2 Case PF                 18.14            16.18            17.89


                                  FY 2007          FY 2008          FY 2009


                               FY2010-11 test


                               Discounted Adjusted PF
                               Discounted 7b2 Case PF


                                  FY 2007          FY 2008          FY 2009


                                                                 FY2012-13 test


                                                                 Discounted Adjusted PF
                                                                 Discounted 7b2 Case PF
  FY 2010      FY 2011        FY 2012        FY 2013            FY 2014         FY 2015


$ 3,544,586 $ 3,774,860     $ 3,762,376    $ 3,893,479        $ 3,571,879    $ 3,719,547

$ 3,544,586 $ 3,774,860     $ 3,762,376    $ 3,893,479        $ 3,571,879    $ 3,719,547

      99765       100236         102909          103278            104607           105347

       35.53        37.66          36.56           37.70             34.15            35.31

        1.67         1.75           1.67               1.76           0.78                0.79

       33.86        35.91          34.89           35.94             33.37            34.52


  FY 2010      FY 2011        FY 2012        FY 2013            FY 2014         FY 2015


$ 1,569,066 $ 1,767,173     $ 1,631,041    $ 1,756,702        $ 2,210,691    $ 2,331,408

$ 1,569,066 $ 1,767,173     $ 1,631,041    $ 1,756,702        $ 2,210,691    $ 2,331,408

      64126        64193          66554           66892             67945            68752

       24.47        27.53          24.51           26.26             32.54            33.91


        9.39         8.38          10.38               9.68           0.83                0.61

  FY 2010      FY 2011        FY 2012        FY 2013            FY 2014         FY 2015


      0.7764       0.7267         0.6802
                                          average
       26.29        26.10           23.73      26.76
       19.00        20.01           16.67      17.98
                          7b2 trigger           8.78

  FY 2010      FY 2011        FY 2012        FY 2013            FY 2014         FY 2015


      0.8790       0.8227         0.7700         0.7214             0.6772
                                                                             average
       29.76        29.54          26.87           25.93                          28.62
                      21.51        22.65        18.87          18.94                        20.44
                                                                       7b2 trigger           8.18

              FY 2010         FY 2011      FY 2012       FY 2013          FY 2014          FY 2015


                                  0.9360       0.8761         0.8209           0.7707           0.7239

                                   33.61        30.57          29.50            25.72            24.99
                                   25.77        21.47          21.56            25.08            24.55


              FY 2010         FY 2011      FY 2012       FY 2013          FY 2014          FY 2015


                  0.7764          0.7267       0.6802         0.6373
                                                                      average
                      26.29        26.10        23.73           22.90      26.21
                      19.00        20.01        16.67           16.74      17.80
                                                      7b2 trigger           8.41

              FY 2010         FY 2011      FY 2012       FY 2013          FY 2014          FY 2015


                  0.9365          0.8765       0.8204         0.7687           0.7216           0.6778

                      31.71        31.48        28.62          27.63            24.08             23.40
                      22.92        24.13        20.11          20.19            23.48             22.98
                                                                                        7b2 trigger

              FY 2010         FY 2011      FY 2012       FY 2013          FY 2014          FY 2015


                                               0.9360         0.8770           0.8233           0.7733

counted Adjusted PF                             32.66          31.52            27.47            26.69
counted 7b2 Case PF                             22.94          23.03            26.79            26.22
  FY 2016
                      Borrowing     2007    2008
$ 3,763,073           rate        1.0000
               2007     6.6700    0.9375   1.0000
$ 3,763,073    2008     6.1500    0.8832   0.9421
               2009     6.5400    0.8290   0.8843
     105546    2010     6.7800    0.7764   0.8282
               2011     6.8400    0.7267   0.7752
       35.65   2012     6.8400    0.6802   0.7256
               2013     6.7300    0.6373   0.6798
        0.80   2014     6.5200    0.5983   0.6382
               2015     6.4600    0.5620   0.5995
       34.85   2016     6.4600    0.5279   0.5631
               2017     6.4600

  FY 2016


$ 2,278,202

$ 2,278,202

      69101

       32.97


        1.88

  FY 2016




  FY 2016
   FY 2016


       0.6800
               average
           23.7 28.02
          22.42 23.48
7b2 trigger       4.54

   FY 2016




   FY 2016



average
     27.82
      22.3
      5.52

   FY 2016


       0.7264      0.6823
                           average
         25.32       25.32 28.16
         23.95       23.95 24.48
               7b2 trigger    3.68
 2009     2010     2011     2012     2013     2014     2015     2016    2017


1.0000
0.9386   1.0000
0.8790   0.9365   1.0000
0.8227   0.8765   0.9360   1.0000
0.7700   0.8204   0.8761   0.9360   1.0000
0.7214   0.7687   0.8209   0.8770   0.9369   1.0000
0.6772   0.7216   0.7707   0.8233   0.8796   0.9388   1.0000
0.6361   0.6778   0.7239   0.7733   0.8262   0.8818   0.9393   1.0000
0.5975   0.6367   0.6800   0.7264   0.7761   0.8283   0.8823   0.9393
                           0.6823
 Expenses from Finance Group                    FY 2007           FY 2008           FY 2009
                                    FBS     $ 1,799,137       $ 1,728,086       $ 1,864,068
                                 NR         $    60,853       $    67,225       $    82,008
                           Exchange         $       -         $       -         $       -
                        conservation        $   180,243       $ 174,148         $ 174,488
                       BPA programs         $   353,568       $ 356,283         $ 364,798
                   Deemer Adjustment                                            $   (16,530)
                                    slice   $         -       $         -       $       -

                                  total $ 2,393,800 $ 2,325,743 $ 2,468,832
                                 check $         -  $        -  $    (16,530)

                 0%
 Additional Revenue Allocation                  FY 2007           FY 2008           FY 2009
                                      $
                                    FBS               -       $         -       $         -
                                  NR $                -       $         -       $         -
                           Exchange
                         conservation $               -       $         -       $         -
                        BPA programs $                -       $         -       $         -
                                total $               -       $         -       $         -

                                                FY 2007           FY 2008           FY 2009
     IOU REP Settlement Expense 1           $         -       $         -       $         -


                                                FY 2007           FY 2008           FY 2009
      Gross Public Exchange Costs           $      21,409     $     22,143      $      15,677
       Net Public Exchange Costs            $         538     $        592      $       1,107

      Gross IOU Exchange Costs          $ 1,745,215 $ 1,763,272 $ 1,937,909
Exchange Costs Functionalized to Trans. $ (150,528) $ (152,361) $ (151,134)

     System Augmentation Expenses               FY 2007           FY 2008           FY 2009
                                    FBS     $             0   $             0   $             0

                                    NR $              -       $         -       $         -


     Minimum Rerquired Revenues             $         -       $         -       $         -
        Rate Design Step Cost Pools                   FY 2007           FY 2008           FY 2009
                                          FBS     $ 1,799,137       $ 1,728,086       $ 1,864,068
                                          NR      $    60,853       $    67,225       $    82,008
                                    Exchange      $ 1,616,095       $ 1,633,054       $ 1,802,452
                conservation less EE revenues     $   180,243       $ 174,148         $ 152,488
                               BPA programs       $   353,568       $ 356,283         $ 348,268

                                          total       4,009,896         3,958,797         4,249,284

                                        check $             -       $         -       $             (0)


      Initial Rate Pool Allocation
                                                      FY 2007           FY 2008           FY 2009
1 CLASSES OF SERVICE
2 Power Rates
3   Priority Firm - Preference
                                          FBS     $ 1,799,137       $ 1,728,086       $ 1,864,068
                                           NR     $       -         $       -         $       -
                                    Exchange      $ 1,056,708       $ 1,150,472       $ 1,585,549
                                  conservation    $   149,975       $ 154,790         $ 144,499
                                 BPA programs     $   294,195       $ 316,679         $ 330,023
                                         Total    $ 3,300,016       $ 3,350,028       $ 3,924,138
6   Industrial Firm Power
                                          FBS     $         -       $         -       $         -
                                           NR     $             0   $             0   $             0
                                    Exchange      $             0   $             0   $             0
                                  conservation    $             0   $             0   $             0
                                 BPA programs     $             0   $             0   $             0
                                         Total    $             0   $             0   $             0
7   New Resources Firm
                                          FBS     $         -       $         -       $         -
                                           NR     $             0   $             0   $             0
                                    Exchange      $             0   $             0   $             0
                                  conservation    $             0   $             0   $             0
                                 BPA programs     $             0   $             0   $             0
                                         Total    $             0   $             0   $             0
8   Surplus Firm Power
                                          FBS  $            -       $        -        $        -
                                           NR $          60,853     $     67,225      $     82,008
                                    Exchange $          559,387     $    482,582      $    216,904
                                  conservation $         30,267     $     19,358      $      7,989
                        BPA programs $           59,373     $     39,604      $     18,245
                                Total $         709,880     $    608,769      $    325,146




                                   FBS    $ 1,799,137       $ 1,728,086       $ 1,864,068
                                  NR      $    60,853       $    67,225       $    82,008
                           Exchange       $ 1,616,095       $ 1,633,054       $ 1,802,452
                         conservation     $   180,243       $ 174,148         $ 152,488
                        BPA programs      $   353,568       $ 356,283         $ 348,268

                Check
                                   FBS                  0                 0                 0
                                  NR                    0                 0                 0
                           Exchange                     0                 0                 0
                         conservation                   0                 0                 0
                        BPA programs                    0                 0                 0


IOU REP Settlement Expense 1              $         -       $         -       $         -


IOU REP Settlement Expense 2              $         -       $         -       $         -
                                          $         -       $         -       $         -

IOU REP Settlement Expense 3              $         -       $         -       $         -
                                                        0                 0                 0


            Slice Portion of Cost Pools       FY 2007           FY 2008           FY 2009
 Slice PBL Rev Req w/o IOU Settlement $         443,912     $    445,610      $    490,922
                                      $
                 Net Inventory Solution          22,876     $     16,983      $     19,811
                          Net Exchange$          35,606     $     28,999      $     57,083
                      REP Settlement 1$             -       $        -        $        -
                REP Settlement 2 Delta$             -       $        -        $        -
                REP Settlement 3 Delta$             -       $        -        $        -
       Minimum Required Net Revenues $           13,110     $      5,113      $        -
                            Sub Total $         515,504     $    496,705      $    567,816

        Slice Implementation Expenses $           2,486     $      2,486      $      2,486
                                 total $        531,101     $    504,304      $    570,302
    FY 2010           FY 2011           FY 2012           FY 2013           FY 2014         FY 2015
$ 1,956,547 $ 2,192,604             $   2,088,425     $ 2,226,363       $ 2,092,731     $ 2,124,122
$    79,964 $    82,187             $     112,616     $   113,875       $    14,387     $    14,603
$       -   $       -               $         -       $       -         $       -       $       -
$ 197,014 $     206,319             $     196,524     $   207,094       $   109,532     $ 111,175
$ 378,223 $     384,409             $     389,970     $   392,721       $   383,230     $ 388,978

$         -       $         -       $         -       $         -       $         -     $         -

$ 2,611,748 $ 2,865,519             $   2,787,534     $ 2,940,053       $ 2,599,880     $ 2,638,879
$         -       $         -       $         -       $         -



    FY 2010           FY 2011           FY 2012           FY 2013           FY 2014         FY 2015
$         -       $         -       $         -       $         -       $         -     $         -
$         -       $         -       $         -       $         -       $         -     $         -

$         -       $         -       $         -       $         -       $         -     $         -
$         -       $         -       $         -       $         -       $         -     $         -
$         -       $         -       $         -       $         -       $         -     $         -

    FY 2010           FY 2011           FY 2012           FY 2013           FY 2014         FY 2015
$         -       $         -       $         -       $         -       $         -     $         -


    FY 2010           FY 2011           FY 2012           FY 2013           FY 2014         FY 2015
$     16,686 $           16,849     $      18,119     $      18,298     $      18,573   $     18,853
$      1,553 $            1,591     $       1,855     $       1,899     $           0   $          0

$ 1,935,316 $ 1,967,749 $               1,985,688 $ 2,011,590 $ 2,041,877 $ 2,072,620
$ (152,475) $ (154,195) $                (155,525) $ (157,130) $ (158,309) $ (159,496)

    FY 2010           FY 2011           FY 2012           FY 2013           FY 2014         FY 2015
$             0   $             0   $             0   $             0   $      89,409   $    169,378

$         -       $         -       $         -       $         -       $         -     $         -


$         -       $         -       $         -       $         -       $         -     $         -
    FY 2010           FY 2011           FY 2012           FY 2013           FY 2014           FY 2015
$ 1,956,547 $ 2,192,604             $   2,088,425     $ 2,226,363       $ 2,182,140       $ 2,293,499
$    79,964 $    82,187             $     112,616     $   113,875       $    14,387       $    14,603
$ 1,799,527 $ 1,830,402             $   1,848,282     $ 1,872,757       $ 1,902,141       $ 1,931,977
$ 175,014 $     184,319             $     174,523     $   185,094       $    87,532       $    89,175
$ 378,223 $     384,409             $     389,970     $   392,721       $   383,230       $ 388,978

    4,389,274         4,673,920         4,613,815         4,790,810         4,569,431         4,718,232

$             0   $             (0) $             0   $             (0) $             0   $             (0)




    FY 2010           FY 2011           FY 2012           FY 2013           FY 2014           FY 2015




$ 1,956,547 $ 2,192,604             $   2,088,425     $ 2,226,363       $ 2,182,140       $ 2,293,499
$       -   $       -               $         -       $       -         $       -         $       -
$ 1,613,248 $ 1,652,603             $   1,834,880     $ 1,848,261       $ 1,634,953       $ 1,689,958
$ 166,160 $     175,350             $     171,745     $   182,166       $    81,347       $    83,002
$ 359,090 $     365,704             $     383,763     $   386,508       $   356,151       $ 362,050
$ 4,095,044 $ 4,386,261             $   4,478,813     $ 4,643,297       $ 4,254,591       $ 4,428,509

$         -       $         -       $         -       $         -       $         -       $         -
$             0   $             0   $             0   $             0   $             0   $             0
$             0   $             0   $             0   $             0   $             0   $             0
$             0   $             0   $             0   $             0   $             0   $             0
$             0   $             0   $             0   $             0   $             0   $             0
$             0   $             0   $             0   $             0   $             0   $             0

$         -       $         -       $         -       $         -       $         -       $         -
$             0   $             0   $             0   $             0   $             0   $             0
$             0   $             0   $             0   $             0   $             0   $             0
$             0   $             0   $             0   $             0   $             0   $             0
$             0   $             0   $             0   $             0   $             0   $             0
$             0   $             0   $             0   $             0   $             0   $             0

$        -        $         -       $         -       $         -       $         -       $        -
$     79,964      $      82,187     $     112,616     $     113,875     $      14,387     $     14,603
$    186,280      $     177,799     $      13,401     $      24,496     $     267,188     $    242,018
$      8,854      $       8,969     $       2,778     $       2,928     $       6,185     $      6,173
$     19,133 $           18,704     $       6,207     $       6,213     $      27,079     $     26,928
$    294,230 $          287,659     $     135,002     $     147,513     $     314,840     $    289,723




$ 1,956,547 $ 2,192,604             $   2,088,425     $ 2,226,363       $ 2,182,140       $ 2,293,499
$    79,964 $    82,187             $     112,616     $   113,875       $    14,387       $    14,603
$ 1,799,527 $ 1,830,402             $   1,848,282     $ 1,872,757       $ 1,902,141       $ 1,931,977
$ 175,014 $     184,319             $     174,523     $   185,094       $    87,532       $    89,175
$ 378,223 $     384,409             $     389,970     $   392,721       $   383,230       $ 388,978


              0                 0                 0                 0                 0                 0
              0                 0                 0                 0                 0                 0
              0                 0                 0                 0                 0                 0
              0                 0                 0                 0                 0                 0
              0                 0                 0                 0                 0                 0


$         -       $         -       $         -       $         -       $         -       $         -


$         -       $         -       $         -       $         -       $         -       $         -
$         -       $         -       $         -       $         -       $         -       $         -

$         -       $         -       $         -       $         -       $         -       $         -
              0                 0                 0                 0                 0                 0


    FY 2010           FY 2011           FY 2012           FY 2013           FY 2014           FY 2015
$    464,441      $     480,433     $     499,653     $     506,090     $     472,092     $    479,173
$      5,210      $       5,210     $         -       $         -       $       2,733     $      2,774
$     55,112      $      59,171     $      53,912     $      56,622     $         -       $        -
$        -        $         -       $         -       $         -       $      42,987     $     39,454
$        -        $         -       $         -       $         -       $      24,754     $     25,126
$        -        $         -       $         -       $         -       $      29,866     $     30,314
$      7,472      $       5,675     $         -       $       8,873     $       8,873     $      8,873
$    532,235      $     550,489     $     553,565     $     571,585     $     581,304     $    585,714

$      2,486 $            2,486     $       2,486     $       2,486     $         -       $        -
$    542,193 $          558,650     $     556,051     $     582,945     $     590,178     $    594,587
    FY 2016
$ 2,155,984        80%
$    14,822         1%
$       -
$ 112,843           4%
$ 394,813          15%
               0
$         -

$ 2,678,462




    FY 2016
$         -
$         -

$         -
$         -
$         -

    FY 2016
$         -


    FY 2016
$     19,137
$          0

$ 2,103,826
$ (161,133)

    FY 2016
$    148,284

$         -


$         -
    FY 2016
$ 2,304,268
$    14,822
$ 1,961,830
$    90,843
$ 394,813

    4,766,576

$             (0)




    FY 2016




$ 2,304,268
$       -
$ 1,664,816
$    84,720
$ 368,203
$ 4,422,007

$         -
$             0
$             0
$             0
$             0
$             0

$         -
$             0
$             0
$             0
$             0
$             0

$        -
$     14,822
$    297,014
$      6,123
$     26,610
$    344,569




$ 2,304,268
$    14,822
$ 1,961,830
$    90,843
$ 394,813


              0
              0
              0
              0
              0


$         -


$         -
$         -

$         -
              0


    FY 2016
$    486,361
$      2,815
$        -
$     40,856
$     25,503
$     30,769
$      8,873
$    595,176

$        -
$    604,049
   Use REV_SIM Secondary Revenue Values ? Yes or No                                                    Yes                           $            -   7b3 check

                                                                                    FY 2007           FY 2008           FY 2009          FY 2010          FY 2011          FY 2012          FY 2013           FY 2014           FY 2015           FY 2016


   Forecast of Secondary Sales (aMW)                                                 1,729             1,733             1,578            1,523            1,582            1720             1720              1720              1720              1720

   Forecast of Secondary Revenues                  $                                   776,291 $         752,533 $        774,239 $        755,752 $        822,323 $        861,380 $         906,255 $        906,255 $          906,255 $        906,255
   Additional Secondary Revenues                   $                                  (266,665) $       (242,988) $      (205,293) $      (202,779) $      (204,249) $      (193,336) $       (193,693) $       (97,500) $         (96,366) $       (93,585)    $ (1,796,453)
                    Total Gross Secondary Revenues $                                   509,626 $         509,546 $        568,946 $        552,974 $        618,074 $        668,044 $         712,563 $        808,756 $          809,889 $        812,670

       Allocation of Secondary Revenues Credit
   Priority Firm..........................................................      $     (509,626)   $     (509,546)   $    (568,946)   $    (552,974)   $    (618,074)   $    (668,044)   $     (712,563)   $     (808,756)   $     (809,889)   $     (812,670)
   Industrial Firm......................................................        $          -      $          -      $         -      $         -      $         -      $         -      $          -      $          -      $          -      $          -
   New Resource Firm.............................................               $          -      $          -      $         -      $         -      $         -      $         -      $          -      $          -      $          -      $          -
   Surplus Firm Other..............................................             $          -      $          -      $         -      $         -      $         -      $         -      $          -      $          -      $          -      $          -
   Total.....................................................................   $     (509,626)   $     (509,546)   $    (568,946)   $    (552,974)   $    (618,074)   $    (668,044)   $     (712,563)   $     (808,756)   $     (809,889)   $     (812,670)

                                                                                $     (266,665) $       (242,988) $      (205,293) $      (202,779) $      (204,249) $      (193,336) $       (193,693) $        (97,500) $        (96,366) $        (93,585)   $ (1,796,453)
                           Revenue Credits                                          FY 2007           FY 2008           FY 2009          FY 2010          FY 2011          FY 2012          FY 2013           FY 2014           FY 2015           FY 2016


   Downstream Benefits & Storage                                                $       8,921     $       8,921     $       8,921    $       8,921    $       8,921    $       8,921    $        8,571    $       8,571     $        8,571    $       8,571
   4(h)(10)(c) Credit                                                           $      84,707     $      84,927     $      88,480    $      93,488    $      93,723    $      93,710    $       95,577    $      95,577     $       95,577    $      95,577
   Colville & Spokane Settlements                                               $       4,600     $       4,600     $       4,600    $       4,600    $       4,600    $       4,600    $        4,600    $       4,600     $        4,600    $       4,600
   Network Wind Integration&Shaping                                             $         -       $         -       $       1,933    $       1,836    $       1,836    $         -      $          -      $         -       $          -      $         -
   Misc. Revenues                                                                                                   $       3,420    $       3,420    $       3,420    $       3,420    $        3,420    $       3,420     $        3,420    $       3,420
   Green Tags                                                                   $       1,079     $       1,082     $       2,799    $           1    $           1    $         -      $          -      $         -       $          -      $         -
   Energy Efficiency & Misc. Revenues                                           $      16,305     $      16,328     $      22,000    $      22,000    $      22,000    $      22,000    $       22,000    $      22,000     $       22,000    $      22,000
   Ancillary Product Revenue                                                    $      73,131     $      61,970     $      79,306    $      79,306    $      79,306    $      79,306    $       79,306    $      79,306     $       79,306    $      79,306


   Reserve Product Revenue                                                      $       3,000     $       3,300     $       3,630    $       3,630    $       3,630    $       3,630    $       3,630     $       3,630     $        3,630    $       3,630
   Aluminum Hedging                                                                     $875                 $0                                                        $           -    $           -     $           -     $            -    $           -
                                                  total less EE revenues $            192,618     $     181,129     $     193,087    $     195,202    $     195,437    $     193,587    $     195,103     $     195,103     $      195,103    $     195,103
                                                                  Slice $              42,464     $      39,994     $      46,778    $      40,081    $      40,081    $      40,081    $      40,081     $      40,081     $       40,081    $      40,081
                                                              Non-Slice $             192,618     $     181,129     $     193,087    $     195,202    $     195,437    $     193,587    $     195,103     $     195,103     $      195,103    $     195,103




D:\Docstoc\Working\pdf\fecdeba0-4783-4e06-961e-50c9835395d4.xlsAdjust1                                                                                                                                                                                             3/4/2012
   Use REV_SIM Secondary Revenue Values ? Yes or No                                                    Yes                           $         -      7b3 check

                                                                                    FY 2007           FY 2008           FY 2009          FY 2010          FY 2011          FY 2012          FY 2013           FY 2014           FY 2015           FY 2016


          Allocation of other Revenues Credits                                      FY 2007           FY 2008           FY 2009          FY 2010          FY 2011          FY 2012          FY 2013           FY 2014           FY 2015           FY 2016
   Priority Firm..........................................................      $     (192,618)   $     (181,129)   $    (193,087)   $    (195,202)   $    (195,437)   $    (193,587)   $     (195,103)   $     (195,103)   $     (195,103)   $     (195,103)
   Industrial Firm......................................................        $          -      $          -      $         -      $         -      $         -      $         -      $          -      $          -      $          -      $          -
   New Resource Firm.............................................               $          -      $          -      $         -      $         -      $         -      $         -      $          -      $          -      $          -      $          -
   Surplus Firm Other..............................................             $          -      $          -      $         -      $         -      $         -      $         -      $          -      $          -      $          -      $          -
   Total.....................................................................   $     (192,618)   $     (181,129)   $    (193,087)   $    (195,202)   $    (195,437)   $    (193,587)   $     (195,103)   $     (195,103)   $     (195,103)   $     (195,103)



                                                                                    FY 2007           FY 2008           FY 2009          FY 2010          FY 2011          FY 2012          FY 2013           FY 2014           FY 2015           FY 2016


   Costs allocated to FPS contract sales                                        $     724,117     $     622,253     $     325,146    $     294,230    $     287,659    $     135,002    $     147,513     $     314,840     $      289,723    $     344,569
   Irrig. Mitigation/TAC/Green Premiums                                         $         -       $         -       $         -      $         -      $         -      $         -      $         -       $         -       $          -      $         -
   Expected Revenue from FPS contract sales                                     $      69,044     $      69,187     $      83,106    $      85,588    $      76,974    $      25,432    $      25,289     $      25,289     $       25,289    $      25,289
   FBS Contract Obligation Revenue                                              $      46,561     $      47,781     $      41,165    $      47,821    $      45,472    $       1,272    $       1,272     $       5,300     $        5,300    $       5,300
                                      (Surplus)/Shortfall                       $     608,513     $     505,285     $     200,874    $     160,821    $     165,214    $     108,298    $     120,952     $     284,251     $      259,134    $     313,980

   Secondary Revenues allocated to FPS                                          $             -   $             -   $         -      $         -      $           -    $         -      $             -   $             -   $             -   $             -
   Revenue Credits allocated to FPS                                             $             -   $             -   $         -      $         -      $           -    $         -      $             -   $             -   $             -   $             -

                      FPS (Surplus)/Shortfall                                   $     608,513     $     505,285     $     200,874    $     160,821    $     165,214    $     108,298    $     120,952     $     284,251     $      259,134    $     313,980

            Allocation of FPS (Surplus)/Shortfall

   Priority Firm..........................................................      $      608,513    $      505,285    $     200,874    $     160,821    $     165,214    $     108,298    $      120,952    $      284,251    $      259,134    $      313,980
   Industrial Firm......................................................        $          -      $          -      $         -      $         -      $         -      $         -      $          -      $          -      $          -      $          -
   New Resource Firm.............................................               $          -      $          -      $         -      $         -      $         -      $         -      $          -      $          -      $          -      $          -
   Surplus Firm Other..............................................             $     (608,513)   $     (505,285)   $    (200,874)   $    (160,821)   $    (165,214)   $    (108,298)   $     (120,952)   $     (284,251)   $     (259,134)   $     (313,980)
   Total.....................................................................   $          -      $          -      $         -      $         -      $         -      $         -      $          -      $          -      $          -      $          -




D:\Docstoc\Working\pdf\fecdeba0-4783-4e06-961e-50c9835395d4.xlsAdjust1                                                                                                                                                                                          3/4/2012
                                                                                                                                        INPUT
        SUPPRAM INPUTS




A       LEVELIZED MARGINAL COSTS OF POWER - this information provided by Gery Bolden on 05/05/2006

        Energy Mills/kwh                                                      OCT        NOV          DEC            JAN              FEB            MAR            APR            MAY            JUN            JUL            AUG             SEP

    1                                                             HLH            53.34      63.03        66.13          59.13            59.27          56.85          47.16          41.76            41.17          49.51          54.63         56.83
    2                                                             LLH            46.08      52.01        54.79          50.01            52.39          50.21          40.56          35.55            31.27          41.07          46.87         50.78


                                            check                              1.91      2.04         2.14           1.82             1.85           1.72           1.62           1.34           1.23           1.50           1.76            1.82
                                  MONTHLY DEMAND                               1.91      2.04         2.14           1.82             1.85           1.72           1.62           1.34           1.23           1.50           1.76            1.82
                                                                                     0          0              0              0                0              0              0              0              0              0              0               0
    7 Demand $/kw/mo                                                              1.73


B       IP-PF LINK NET MARGIN

    1 Mills/kwh                                                                  0.573


                                                                                                      2007           2008             2009           2010           2011           2012           2013           2014           2015            2016

                                                                         PF Slice Product Percent   22.6278%       22.6278%         22.6278%       22.6278%       22.6278%       22.6278%       22.6278%       22.6278%       22.6278%        22.6278%



C       ALLOCATION FACTORS

                                                                                                                                  Energy Allocation Factors w/ Res Exch

Energy Allocation Factors w/ Res Exch                                                                                                                                                              0              0              0
                           Average Megawatts                                  Period
                                                                               Total     2007         2007           2008             2009           2010           2011           2012           2013           2014           2015            2016
 1      Federal Base System
 2      Total Usage
 3      Priority Firm...................................................       11,415                  11,415         11,542           11,582         11,719         11,774         12,055         12,132         12,288         12,375          12,386
 4      Industrial Firm................................................             0                       0              0                0              0              0              0              0              0              0               0
 5      New Resource Firm.......................................                    0                       0              0                0              0              0              0              0              0              0               0
 6      Surplus Firm Other........................................              2,304                   2,304          1,443              640            624            602            195            195            934            920             895
 7      Total..............................................................    13,719                  13,719         12,985           12,223         12,344         12,377         12,250         12,327         13,222         13,295          13,281
 8      Federal Base System
 9      Priority Firm...................................................        8,701                   8,701          8,590            7,916          7,950          7,936          7,810          7,856          8,536          8,528            8,626
10      Industrial Firm................................................           -                       -              -                -              -              -              -              -              -              -                -
11      New Resource Firm.......................................                  -                       -              -                -              -              -              -              -              -              -                -
12      Surplus Firm Other........................................                -                       -              -                -              -              -              -              -              -              -                -
13      Total..............................................................     8,701                   8,701          8,590            7,916          7,950          7,936          7,810          7,856          8,536          8,528            8,626
14      Residential Exchange
15      Priority Firm...................................................        2,714                   2,714          2,952            3,666          3,769          3,839          4,246          4,276          3,752          3,847            3,760




        D:\Docstoc\Working\pdf\fecdeba0-4783-4e06-961e-50c9835395d4.xlsINPUT                                                                                                                                                                 3/4/2012
16 Industrial Firm................................................                0                       0               0              0
                                                                                                                                      INPUT             0               0               0                0                0               0                  0
17 New Resource Firm.......................................                       0                       0               0               0             0               0               0                0                0               0                  0
18 Surplus Firm Other........................................                 1,437                   1,437           1,238             502           435             413              31               57              613             551                671
19 Total..............................................................        4,151                   4,151           4,190           4,167         4,204           4,252           4,277            4,333            4,365           4,398              4,431
20 New Resource
21 Priority Firm...................................................             -                          -               -            -                -               -               -                -                -               -                  -
22 Industrial Firm................................................                  0                        0               0          0.0               0               0               0                0                 0               0                  0
23 New Resource Firm.......................................                         0                      0.0             0.0          0.0             0.0             0.0             0.0              0.0               0.0             0.0                0.0
24 Surplus Firm Other........................................                       0                        0               0        141.6             191             191             165              141                 0               0                  0
25 Total..............................................................              0                        0               0          142             191             191             165              141                 0               0                  0
26 Conservation
27 Priority Firm...................................................         11,415                   11,415          11,542          11,582        11,719          11,774          12,055           12,132           12,288          12,375            12,386
28 Industrial Firm................................................               0                        0               0               0             0               0               0                0                0               0                 0
29 New Resource Firm.......................................                      0                        0               0               0             0               0               0                0                0               0                 0
30 Surplus Firm Other........................................                2,304                    2,304           1,443             640           624             602             195              195              934             920               895
31 Total..............................................................      13,719                   13,719          12,985          12,223        12,344          12,377          12,250           12,327           13,222          13,295            13,281

                                                                                        check            (867)           (205)              3                2               2               1                3          (321)           (369)              (224)


                                              PF Non-Slice                                         5,600           5,643           5,734         5,809           5,862           6,036            6,086            6,171           6,257              6,240

                                                      PF Slice                                     1,665           1,708           1,681         1,706           1,660           1,742            1,713            1,752           1,720              1,715

                                              PF exchange                                          4151            4190            4167          4204            4252            4277             4333             4365            4398               4431

                                                                  IP                                 0               0               0             0               0               0                0                0               0                  0

                                                               NR                                    0               0               0             0               0               0                0                0               0                  0

                                                              FPS                                  2,304           1,443            640           624             602             195              195              934             920                895

                                Total Non-Slice Load                                               12,054          11,276          10,542        10,638          10,716          10,508           10,614           11,470          11,575            11,566


                                                                     Non-Slice FBS w/o losses      8701            8590            7916          7950            7936            7810             7856             8536            8528               8626
                                                                         Exchange w/o losses       4151            4190            4167          4204            4252            4277             4333             4365            4398               4431
                                                                                 NR                 0               0              142           191             191             165              141               0               0                  0

                                                                             Available Resources   12852           12780           12226         12346           12379           12251            12330            12901           12926             13057

                                                                     Non-Slice Load Obligation     13719           12985           12223         12344           12377           12250            12327            13222           13295             13281

                                                                                        Delta       -867            -205             3             2               2               1                3               -321            -369              -224


                                     Non-Slice FBS after Non-Slice PF allocation                               0               0            0                0               0               0                0                0               0                  0

                                             Exchange after Non-Slice PF allocation                      1437            1238              502           435             413                 31               57           613             551                671

                                                                         NR after PF allocation                0               0           142           191             191             165              141                  0               0                  0



C     7b2 ALLOCATION FACTORS




     D:\Docstoc\Working\pdf\fecdeba0-4783-4e06-961e-50c9835395d4.xlsINPUT                                                                                                                                                                          3/4/2012
                                                                                                                               INPUT

                                                                                                                               Energy Allocation Factors



Energy Allocation Factors w/ Res Exch                                                                                                                                                                  0                 0                 0
                        Average Megawatts                                  Period                TRUE          TRUE          TRUE              TRUE              TRUE              FALSE             FALSE             FALSE             FALSE
                                                                            Total         2007   2007          2008          2009              2010              2011               2012              2013              2014              2015                2016
 1   Federal Base System
 2   Total Usage
 3   Priority Firm...................................................        7,512                 7,512         7,635         7,734             7,875             7,923             8,220             8,281             8,445             8,540                 8,559
 4   Industrial Firm................................................           -                     -             -             -                 -                 -                 -                 -                 -                 -                     -
 5   New Resource Firm.......................................                  -                     -             -             -                 -                 -                 -                 -                 -                 -                     -
 6   Surplus Firm Other........................................              2,252                 2,252         1,381           549               530               508               118               118               857               843                   818
 7   Total..............................................................     9,765                 9,765         9,017         8,283             8,405             8,431             8,338             8,399             9,303             9,384                 9,377
 8   Federal Base System
 9   Priority Firm...................................................        7,512                 7,512         7,635         7,734             7,875             7,923             8,220             8,281             8,445             8,540                 8,559
10   Industrial Firm................................................           -                     -             -             -                 -                 -                 -                 -                 -                 -                     -
11   New Resource Firm.......................................                  -                     -             -             -                 -                 -                 -                 -                 -                 -                     -
12   Surplus Firm Other........................................              1,193                 1,193           958           549               530               508               118               118               857               843                   818
13   Total..............................................................     8,705                 8,705         8,594         8,283             8,405             8,431             8,338             8,399             9,303             9,384                 9,377
14   Residential Exchange
15   Priority Firm...................................................          -                         -             -             -                 -                 -                 -                 -                 -                 -                    -
16   Industrial Firm................................................           -                         -             -             -                 -                 -                 -                 -                 -                 -                    -
17   New Resource Firm.......................................                  -                         -             -             -                 -                 -                 -                 -                 -                 -                    -
18   Surplus Firm Other........................................                -                         -             -             -                 -                 -                 -                 -                 -                 -                    -
19   Total..............................................................       -                         -             -             -                 -                 -                 -                 -                 -                 -                    -
20   New Resource
21   Priority Firm...................................................          -                         -             -             -                 -                 -                 -                 -                 -                 -                    -
22   Industrial Firm................................................           -                         -             -             -                 -                 -                 -                 -                 -                 -                    -
23   New Resource Firm.......................................                       0                    0.0           0.0           0.0               0.0               0.0               0.0               0.0               0.0               0.0                  0.0
24   Surplus Firm Other........................................                     0                      0             0             0                 0                 0                 0                 0                 0                 0                    0
25   Total..............................................................            0                      0             0             0                 0                 0                 0                 0                 0                 0                    0
26   Conservation
27   Priority Firm...................................................          -                     -             -             -                 -                 -                 -                 -                 -                 -                     -
28   Industrial Firm................................................           -                     -             -             -                 -                 -                 -                 -                 -                 -                     -
29   New Resource Firm.......................................                  -                     -             -             -                 -                 -                 -                 -                 -                 -                     -
30   Surplus Firm Other........................................                -                     -             -             -                 -                 -                 -                 -                 -                 -                     -
31   Total..............................................................       -                   9,765         9,017         8,283             8,405             8,431             8,338             8,399             9,303             9,384                 9,377

                                                                                        check      (1,060)          (423)                (0)               (0)               (0)               (0)               (0)               (0)               (0)                  (0)


                                             PF preference                                       7,512         7,635         7,734             7,875             7,923             8,220             8,281             8,445             8,540                8,559

                                               PF exchange                                        0             0             0                 0                 0                  0                 0                 0                 0                    0

                                                                    IP                            0             0             0                 0                 0                  0                 0                 0                 0                    0

                                                                 NR                              0.000         0.000         0.000             0.000             0.000             0.000             0.000             0.000             0.000                0.000

                                                               FPS                               2,252         1,381         549               530               508                118               118               857               843                  818




     D:\Docstoc\Working\pdf\fecdeba0-4783-4e06-961e-50c9835395d4.xlsINPUT                                                                                                                                                                                  3/4/2012
                                                                                       INPUT
                                    FBS w/o losses          8705        8594         8283         8405         8431         8338         8399         9303         9384            9377
                                Exchange w/o losses          0           0            0            0            0            0            0            0            0               0
                                       NR                    0           0            0            0            0            0            0            0            0               0

                                 Available Resources        8705        8594         8283         8405         8431         8338         8399         9303         9384            9377

                                      Load Obligation       9765        9017         8283         8405         8431         8338         8399         9303         9384            9377

                                         Delta              -1060       -423          0            0            0            0            0            0            0                0


                             FBS after PF allocation            1193           958          549          530          508          118          118          857          843              818

                             Exchange after PF allocation           0           0            0            0            0            0            0            0            0                0

                             NR after PF allocation                 0           0            0            0            0            0            0            0            0                0




D:\Docstoc\Working\pdf\fecdeba0-4783-4e06-961e-50c9835395d4.xlsINPUT                                                                                                            3/4/2012
                                                                       INPUT




D:\Docstoc\Working\pdf\fecdeba0-4783-4e06-961e-50c9835395d4.xlsINPUT           3/4/2012
                                                                       INPUT




D:\Docstoc\Working\pdf\fecdeba0-4783-4e06-961e-50c9835395d4.xlsINPUT           3/4/2012
                                                                       INPUT




                                                                               Load




D:\Docstoc\Working\pdf\fecdeba0-4783-4e06-961e-50c9835395d4.xlsINPUT                  3/4/2012
                                                                       INPUT   Variance




D:\Docstoc\Working\pdf\fecdeba0-4783-4e06-961e-50c9835395d4.xlsINPUT                      3/4/2012
                                                                               INPUT




                                                                                       33.86
                                                                                       23.61
                                                                                       30.06


                                                                       check
                                                                         0




D:\Docstoc\Working\pdf\fecdeba0-4783-4e06-961e-50c9835395d4.xlsINPUT                           3/4/2012
                                                                       INPUT




D:\Docstoc\Working\pdf\fecdeba0-4783-4e06-961e-50c9835395d4.xlsINPUT           3/4/2012
                                                                                   FY 2007           FY 2008           FY 2009           FY 2010           FY 2011           FY 2012           FY 2013           FY 2014           FY 2015           FY 2016
                   Allocation of Revenue Requirement

                   Priority Firm........................................       $    3,300,016    $    3,350,028    $    3,924,138    $    4,095,044    $    4,386,261    $    4,478,813    $    4,643,297    $    4,254,591    $    4,428,509    $    4,422,007
                   Industrial Firm.....................................        $            0    $            0    $            0    $            0    $            0    $            0    $            0    $            0    $            0    $            0
                   New Resource Firm............................               $            0    $            0    $            0    $            0    $            0    $            0    $            0    $            0    $            0    $            0
                   Surplus Firm Other.............................             $      709,880    $      608,769    $      325,146    $      294,230    $      287,659    $      135,002    $      147,513    $      314,840    $      289,723    $      344,569
                   Total....................................................   $    4,009,896    $    3,958,797    $    4,249,284    $    4,389,274    $    4,673,920    $    4,613,815    $    4,790,810    $    4,569,431    $    4,718,232    $    4,766,576

                   Allocation of Secondary Revenues Credit
                   Priority Firm........................................       $     (509,626)   $     (509,546)   $     (568,946)   $     (552,974)   $     (618,074)   $     (668,044)   $     (712,563)   $     (808,756)   $     (809,889)   $     (812,670)
                   Industrial Firm.....................................        $          -      $          -      $          -      $          -      $          -      $          -      $          -      $          -      $          -      $          -
                   New Resource Firm............................               $          -      $          -      $          -      $          -      $          -      $          -      $          -      $          -      $          -      $          -
                   Surplus Firm Other.............................             $          -      $          -      $          -      $          -      $          -      $          -      $          -      $          -      $          -      $          -
                   Total....................................................   $     (509,626)   $     (509,546)   $     (568,946)   $     (552,974)   $     (618,074)   $     (668,044)   $     (712,563)   $     (808,756)   $     (809,889)   $     (812,670)

                   Allocation of other Revenues Credits
                   Priority Firm........................................       $     (192,618)   $     (181,129)   $     (193,087)   $     (195,202)   $     (195,437)   $     (193,587)   $     (195,103)   $     (195,103)   $     (195,103)   $     (195,103)
                   Industrial Firm.....................................        $          -      $          -      $          -      $          -      $          -      $          -      $          -      $          -      $          -      $          -
                   New Resource Firm............................               $          -      $          -      $          -      $          -      $          -      $          -      $          -      $          -      $          -      $          -
                   Surplus Firm Other.............................             $          -      $          -      $          -      $          -      $          -      $          -      $          -      $          -      $          -      $          -
                   Total....................................................   $     (192,618)   $     (181,129)   $     (193,087)   $     (195,202)   $     (195,437)   $     (193,587)   $     (195,103)   $     (195,103)   $     (195,103)   $     (195,103)

                   Allocation of FPS (Surplus)/Shortfall
                   Priority Firm........................................       $      608,513    $      505,285    $      200,874    $      160,821    $      165,214    $      108,298    $      120,952    $      284,251    $      259,134    $      313,980
                   Industrial Firm.....................................        $          -      $          -      $          -      $          -      $          -      $          -      $          -      $          -      $          -      $          -
                   New Resource Firm............................               $          -      $          -      $          -      $          -      $          -      $          -      $          -      $          -      $          -      $          -
                   Surplus Firm Other.............................             $     (608,513)   $     (505,285)   $     (200,874)   $     (160,821)   $     (165,214)   $     (108,298)   $     (120,952)   $     (284,251)   $     (259,134)   $     (313,980)
                   Total....................................................   $          -      $          -      $          -      $          -      $          -      $          -      $          -      $          -      $          -      $          -


                                                                                   FY 2007           FY 2008           FY 2009           FY 2010           FY 2011           FY 2012           FY 2013           FY 2014           FY 2015           FY 2016


                   Low Density Discount Expenses.......................................
                   Priority Firm....................................... $   22,289 $                     22,612    $       24,860    $       24,860    $       24,860    $       24,860    $       24,860    $       24,860    $       24,860    $       24,860

                   Irrigation Rate Mitigation Product.....................................
                   Priority Firm....................................... $      10,000 $                  10,000    $       12,036    $       12,036    $       12,036    $       12,036    $       12,036    $       12,036    $       12,036    $       10,000


                                                                                   FY 2007           FY 2008           FY 2009           FY 2010           FY 2011           FY 2012           FY 2013           FY 2014           FY 2015           FY 2016
                   Initial Allocation to Rate Pools........
                   Priority Firm.......................................        $    3,238,572    $    3,197,251    $    3,399,875    $    3,544,586    $    3,774,860    $    3,762,376    $    3,893,479    $    3,571,879    $    3,719,547    $    3,763,073
                   Industrial Firm...................................          $            0    $            0    $            0    $            0    $            0    $            0    $            0    $            0    $            0    $            0
                   New Resource Firm..........................                 $            0    $            0    $            0    $            0    $            0    $            0    $            0    $            0    $            0    $            0
                   Surplus Firm Other...........................               $      101,368    $      103,484    $      124,271    $      133,409    $      122,446    $       26,705    $       26,561    $       30,589    $       30,589    $       30,589




D:\Docstoc\Working\pdf\fecdeba0-4783-4e06-961e-50c9835395d4.xlsInitial Allocation                                                                                                                                                                                  3/4/2012
                   Total...................................................   $   3,339,940   $   3,300,735   $   3,524,147   $   3,677,995   $   3,897,305   $   3,789,080   $   3,920,040   $   3,602,468   $   3,750,136   $   3,793,662




D:\Docstoc\Working\pdf\fecdeba0-4783-4e06-961e-50c9835395d4.xlsInitial Allocation                                                                                                                                                             3/4/2012
   LEVELIZED MARGINAL COSTS OF POWER
                                 OCT            NOV            DEC               JAN            FEB
   Energy Mills/kwh
                        HLH      53.34          63.03          66.13             59.13          59.27
                        LLH      46.08          52.01          54.79             50.01          52.39
MONTHLY DEMAND                   1.91           2.04           2.14              1.82           1.85


   UNBIFURCATED PF               Oct            Nov            Dec               Jan            Feb
             2007       HLH $ 245,468       $ 321,315      $   393,353       $ 362,878      $   333,966
                         LLH $ 133,286      $ 169,008      $   208,845       $ 201,242      $   186,795
                      Demand $    26,448    $    30,687    $    36,285       $    32,533    $    32,408
                        HLH        31.10           36.75          38.56            34.48           34.56
                         LLH       26.87           30.33          31.95            29.16           30.55
                      Demand         1.91           2.04              2.14           1.82              1.85
                                 Oct            Nov            Dec               Jan            Feb
             2008       HLH $ 248,706       $ 323,828      $   389,001       $ 361,135      $   339,938
                         LLH $ 129,925      $ 168,611      $   214,155       $ 202,821      $   193,250
                      Demand $    26,941    $    31,327    $    36,942       $    32,994    $    32,923
                        HLH        30.20           35.68          37.44            33.48           33.55
                         LLH       26.08           29.44          31.02            28.31           29.66
                      Demand         1.91           2.04              2.14           1.82              1.85
                                 Oct            Nov            Dec               Jan            Feb
             2009       HLH $ 249,477       $ 320,265      $   401,115       $ 363,111      $   331,138
                         LLH $ 132,230      $ 174,855      $   206,943       $ 204,192      $   189,632
                      Demand $    27,203    $    31,651    $    37,105       $    33,223    $    32,391
                        HLH        32.26           38.12          40.00            35.77           35.85
                         LLH       27.87           31.46          33.14            30.25           31.69
                      Demand         1.91           2.04              2.14           1.82              1.85
                                 Oct            Nov            Dec               Jan            Feb
             2010       HLH $ 253,729       $ 324,558      $   410,147       $ 362,020      $   335,667
                         LLH $ 134,394      $ 176,969      $   211,521       $ 208,067      $   191,695
                      Demand $    27,726    $    32,133    $    37,973       $    33,476    $    33,403
                        HLH        33.35           39.41          41.35            36.98           37.06
                         LLH       28.81           32.52          34.26            31.27           32.76
                      Demand         1.91           2.04              2.14           1.82              1.85
                                 Oct            Nov            Dec               Jan            Feb
             2011       HLH $ 251,392       $ 330,854      $   412,714       $ 364,193      $   337,438
                         LLH $ 136,177      $ 175,164      $   213,073       $ 209,064      $   192,580
                      Demand $    27,801    $    32,397    $    38,288       $    33,712    $    33,664
                        HLH        35.52           41.98          44.04            39.38           39.47
                         LLH       30.69           34.64          36.49            33.31           34.89
                      Demand         1.91           2.04              2.14           1.82              1.85
                           Oct           Nov            Dec                Jan             Feb
     2012     HLH $ 258,376          $ 336,373      $   416,918      $ 366,062       $     346,400
               LLH $ 139,907         $ 177,846      $   215,159      $ 209,611       $     196,194
            Demand $       28,730    $     33,206   $     38,867     $     34,016    $      33,938
              HLH           34.48           40.74          42.74            38.22            38.31
               LLH          29.78           33.62          35.42            32.32            33.86
            Demand           1.91            2.04             2.14           1.82                1.85
                           Oct           Nov            Dec                Jan             Feb
     2013     HLH $ 262,052          $ 338,702      $   415,957      $ 373,048       $     340,400
               LLH $ 138,806         $ 178,690      $   219,240      $ 208,854       $     194,210
            Demand $       29,004    $     33,520   $     39,222     $     34,417    $      33,655
              HLH           35.63           42.10          44.17            39.50            39.59
               LLH          30.78           34.74          36.60            33.40            35.00
            Demand           1.91            2.04             2.14           1.82                1.85
                           Oct           Nov            Dec                Jan             Feb
     2014     HLH $ 265,333          $ 343,129      $   421,103      $ 376,089       $     344,685
               LLH $ 140,559         $ 180,769      $   221,687      $ 210,373       $     196,529
            Demand $       29,368    $     33,940   $     39,696     $     34,687    $      34,616
              HLH           31.97           37.77          39.63            35.44            35.52
               LLH          27.61           31.17          32.84            29.97            31.40
            Demand           1.91            2.04             2.14           1.82                1.85
                           Oct           Nov            Dec                Jan             Feb
     2015     HLH $ 266,980          $ 343,025      $   428,309      $ 379,671       $     348,001
               LLH $ 141,431         $ 184,807      $   220,257      $ 212,204       $     198,328
            Demand $       29,534    $     34,228   $     39,993     $     34,996    $      34,927
              HLH           33.15           39.17          41.09            36.75            36.83
               LLH          28.63           32.32          34.05            31.08            32.56
            Demand           1.91            2.04             2.14           1.82                1.85
                           Oct           Nov            Dec                Jan             Feb
     2016     HLH $ 267,917          $ 344,274      $   429,951      $ 381,244       $     349,474
               LLH $ 141,928         $ 185,408      $   221,032      $ 213,081       $     199,159
            Demand $       29,643    $     34,351   $     40,152     $     35,145    $      35,074
              HLH           33.44           39.51          41.46            37.07            37.15
               LLH          28.89           32.60          34.35            31.35            32.84
            Demand           1.91            2.04             2.14           1.82                1.85




IP                   Oct             Nov            Dec              Jan             Feb
     2007     HLH $              0   $         0    $           0    $           0   $             0
               LLH $             0   $         0    $           0    $           0   $             0
            Demand           0.00            0.00             0.00           0.00                0.00
                HLH         35.75         42.25           44.33            39.64             39.73
                LLH         30.89         34.86           36.73            33.52             35.12
       Demand           1.91            2.04           2.14              1.82             1.85
                      Oct           Nov            Dec               Jan            Feb
2008            HLH $          0    $          0   $            0    $          0   $              0
                LLH $          0    $          0   $            0    $          0   $              0
            Demand           0.00          0.00               0.00          0.00                 0.00
                HLH         49.70         58.73           61.62            55.10             55.22
                LLH         42.93         48.46           51.06            46.59             48.81
       Demand           1.91            2.04           2.14              1.82             1.85
                      Oct           Nov            Dec               Jan            Feb
2009            HLH $          0    $          0   $            0    $          0   $              0
                LLH $          0    $          0   $            0    $          0   $              0
            Demand           0.00          0.00               0.00          0.00                 0.00
                HLH         60.52         71.52           75.03            67.10             67.25
                LLH         52.28         59.01           62.17            56.74             59.44
       Demand           1.91            2.04           2.14              1.82             1.85
                      Oct           Nov            Dec               Jan            Feb
2010            HLH $          0    $          0   $            0    $          0   $              0
                LLH $          0    $          0   $            0    $          0   $              0
            Demand           0.00          0.00               0.00          0.00                 0.00
                HLH         55.99         66.16           69.41            62.07             62.21
                LLH         48.36         54.59           57.52            52.49             54.99
       Demand           1.91            2.04           2.14              1.82             1.85
                      Oct           Nov            Dec               Jan            Feb
2011            HLH $          0    $          0   $            0    $          0   $              0
                LLH $          0    $          0   $            0    $          0   $              0
            Demand           0.00          0.00               0.00          0.00                 0.00
                HLH         56.78         67.10           70.40            62.95             63.09
                LLH         49.05         55.37           58.33            53.24             55.77
       Demand           1.91            2.04           2.14              1.82             1.85
                      Oct           Nov            Dec               Jan            Feb
2012            HLH $          0    $          0   $            0    $          0   $              0
                LLH $          0    $          0   $            0    $          0   $              0
            Demand           0.00          0.00               0.00          0.00                 0.00
                HLH         83.18         98.29          103.13            92.22             92.43
                LLH         71.86         81.11           85.45            77.99             81.70
       Demand           1.91            2.04           2.14              1.82             1.85
                      Oct           Nov            Dec               Jan            Feb
2013            HLH $          0    $          0   $            0    $          0   $              0
                LLH $          0    $          0   $            0    $          0   $              0
            Demand           0.00          0.00               0.00          0.00                 0.00
                       HLH         91.38         107.98         113.29            101.31           101.53
                       LLH         78.94          89.10          93.87             85.67            89.75
              Demand           1.91            2.04           2.14              1.82             1.85
                             Oct           Nov            Dec               Jan            Feb
       2014            HLH $           0   $          0   $            0    $          0   $              0
                       LLH $           0   $          0   $            0    $          0   $              0
                   Demand           0.00           0.00              0.00           0.00                0.00
                       HLH         39.33          46.47          48.76             43.60            43.70
                       LLH         33.97          38.35          40.40             36.87            38.63
              Demand           1.91            2.04           2.14              1.82             1.85
                             Oct           Nov            Dec               Jan            Feb
       2015            HLH $           0   $          0   $            0    $          0   $              0
                       LLH $           0   $          0   $            0    $          0   $              0
                   Demand           0.00           0.00              0.00           0.00                0.00
                       HLH         36.57          43.21          45.33             40.54            40.63
                       LLH         31.59          35.65          37.56             34.28            35.92
              Demand           1.91            2.04           2.14              1.82             1.85
                             Oct           Nov            Dec               Jan            Feb
       2016            HLH $           0   $          0   $            0    $          0   $              0
                       LLH $           0   $          0   $            0    $          0   $              0
                   Demand           0.00           0.00              0.00           0.00                0.00
                       HLH         45.14          53.34          55.97             50.04            50.16
                       LLH         39.00          44.01          46.37             42.32            44.34
              Demand               1.91           2.04           2.14              1.82              1.85




                             FY 2007       FY 2008        FY 2009           FY 2010        FY 2011
UNBIFURCATED PF                    33.33          32.45          34.48             35.53            37.66
IP                                 36.20          49.41          59.65             55.35            56.11
NR                                 36.20          49.41          59.65             55.35            56.11


NR                           Oct           Nov            Dec               Jan            Feb
       2007            HLH $           0   $          0   $            0    $          0   $              0
                       LLH $           0   $          0   $            0    $          0   $              0
                   Demand           0.00           0.00              0.00           0.00                0.00
                       HLH         35.75          42.25          44.33             39.64            39.73
                       LLH         30.89          34.86          36.73             33.52            35.12
              Demand           1.91            2.04           2.14              1.82             1.85
                             Oct           Nov            Dec               Jan            Feb
       2008            HLH $           0   $          0   $            0    $          0   $              0
                LLH $          0    $          0   $            0    $          0   $              0
            Demand           0.00           0.00              0.00           0.00                0.00
                HLH         49.70          58.73          61.62             55.10            55.22
                LLH         42.93          48.46          51.06             46.59            48.81
       Demand           1.91            2.04           2.14              1.82             1.85
                      Oct           Nov            Dec               Jan            Feb
2009            HLH $          0    $          0   $            0    $          0   $              0
                LLH $          0    $          0   $            0    $          0   $              0
            Demand           0.00           0.00              0.00           0.00                0.00
                HLH         60.52          71.52          75.03             67.10            67.25
                LLH         52.28          59.01          62.17             56.74            59.44
       Demand           1.91            2.04           2.14              1.82             1.85
                      Oct           Nov            Dec               Jan            Feb
2010            HLH $          0    $          0   $            0    $          0   $              0
                LLH $          0    $          0   $            0    $          0   $              0
            Demand           0.00           0.00              0.00           0.00                0.00
                HLH         55.99          66.16          69.41             62.07            62.21
                LLH         48.36          54.59          57.52             52.49            54.99
       Demand           1.91            2.04           2.14              1.82             1.85
                      Oct           Nov            Dec               Jan            Feb
2011            HLH $          0    $          0   $            0    $          0   $              0
                LLH $          0    $          0   $            0    $          0   $              0
            Demand           0.00           0.00              0.00           0.00                0.00
                HLH         56.78          67.10          70.40             62.95            63.09
                LLH         49.05          55.37          58.33             53.24            55.77
       Demand           1.91            2.04           2.14              1.82             1.85
                      Oct           Nov            Dec               Jan            Feb
2012            HLH $          0    $          0   $            0    $          0   $              0
                LLH $          0    $          0   $            0    $          0   $              0
            Demand           0.00           0.00              0.00           0.00                0.00
                HLH         83.18          98.29         103.13             92.22            92.43
                LLH         71.86          81.11          85.45             77.99            81.70
       Demand           1.91            2.04           2.14              1.82             1.85
                      Oct           Nov            Dec               Jan            Feb
2013            HLH $          0    $          0   $            0    $          0   $              0
                LLH $          0    $          0   $            0    $          0   $              0
            Demand           0.00           0.00              0.00           0.00                0.00
                HLH         91.38         107.98         113.29            101.31           101.53
                LLH         78.94          89.10          93.87             85.67            89.75
       Demand           1.91            2.04           2.14              1.82             1.85
                      Oct           Nov            Dec               Jan            Feb
2014            HLH $          0    $          0   $            0    $          0   $              0
                LLH $             0   $          0   $            0    $          0   $              0
            Demand            0.00           0.00               0.00          0.00                 0.00
                HLH          39.33          46.47          48.76             43.60             43.70
                LLH          33.97          38.35          40.40             36.87             38.63
       Demand           1.91              2.04           2.14              1.82             1.85
                      Oct             Nov            Dec               Jan            Feb
2015            HLH $             0   $          0   $            0    $          0   $              0
                LLH $             0   $          0   $            0    $          0   $              0
            Demand            0.00           0.00               0.00          0.00                 0.00
                HLH          36.57          43.21          45.33             40.54             40.63
                LLH          31.59          35.65          37.56             34.28             35.92
       Demand                 1.91           2.04           2.14              1.82                1.85
                            Oct           Nov            Dec               Jan              Feb
2016   HLH                  0.00      0.00                 0.00      0.00       0.00
       LLH                  0.00      0.00                 0.00      0.00       0.00
       Demand          0.000191 0.000204              0.000214 0.000182    0.000185
       HLH                 45.14     53.34                55.97     50.04      50.16
       LLH            38.996001 44.014909            46.373976 42.321295 44.3380817
       Demand              1.91      2.04                 2.14      1.82       1.85
    MAR               APR               MAY            JUN            JUL               AUG            SEP


    56.85             47.16             41.76          41.17          49.51             54.63          56.83
    50.21             40.56             35.55          31.27          41.07             46.87          50.78
    1.72              1.62              1.34           1.23           1.50              1.76           1.82


    Mar               Apr               May            Jun             Jul              Aug            Sep
$   319,951       $   233,957       $ 179,261      $ 170,519      $   204,274       $   249,707    $   255,849
$   173,242       $   122,755       $ 100,210      $    78,486    $   109,096       $   122,462    $   148,026
$    25,230       $    21,957       $    15,081    $    13,346    $    17,348       $    21,006    $    22,949
       33.15             27.50             24.35          24.01          28.87             31.85          33.14
       29.28             23.65             20.73          18.23          23.95             27.33          29.61
           1.72              1.62           1.34           1.23              1.50           1.76              1.82
    Mar               Apr               May            Jun             Jul              Aug            Sep
$   316,179       $   236,553       $ 181,549      $ 176,771      $   209,616       $   251,523    $   263,550
$   177,615       $   124,540       $ 102,056      $    83,399    $   112,573       $   129,096    $   149,550
$    25,685       $    22,372       $    15,623    $    14,089    $    17,733       $    21,434    $    23,440
       32.18             26.70             23.64          23.31          28.03             30.93          32.17
       28.43             22.96             20.13          17.70          23.25             26.54          28.75
           1.72              1.62           1.34           1.23              1.50           1.76              1.82
    Mar               Apr               May            Jun             Jul              Aug            Sep
$   319,120       $   240,148       $ 176,328      $ 175,956      $   211,396       $   252,543    $   263,591
$   179,124       $   126,435       $ 101,306      $    80,810    $   113,863       $   129,639    $   149,651
$    25,962       $    22,755       $    15,363    $    13,902    $    17,925       $    21,544    $    23,474
       34.39             28.52             25.26          24.90          29.94             33.04          34.37
       30.37             24.53             21.50          18.91          24.84             28.35          30.71
           1.72              1.62           1.34           1.23              1.50           1.76              1.82
    Mar               Apr               May            Jun             Jul              Aug            Sep
$   323,346       $   240,816       $ 180,397      $ 181,724      $   219,391       $   249,797    $   260,398
$   177,117       $   127,023       $ 103,582      $    83,487    $   118,262       $   127,928    $   147,533
$    26,127       $    22,890       $    15,751    $    14,386    $    18,614       $    21,374    $    23,253
       35.55             29.49             26.12          25.75          30.96             34.16          35.53
       31.40             25.36             22.23          19.55          25.68             29.31          31.75
           1.72              1.62           1.34           1.23              1.50           1.76              1.82
    Mar               Apr               May            Jun             Jul              Aug            Sep
$   324,405       $   236,401       $ 181,307      $ 181,102      $   220,882       $   256,554    $   264,586
$   177,557       $   124,609       $ 103,843      $    83,073    $   121,559       $   128,249    $   150,060
$    26,280       $    22,522       $    15,864    $    14,382    $    18,979       $    21,803    $    23,689
       37.86             31.41             27.82          27.42          32.97             36.38          37.85
       33.44             27.02             23.68          20.83          27.35             31.22          33.82
           1.72              1.62           1.34           1.23              1.50           1.76              1.82
      Mar                Apr              May              Jun             Jul              Aug              Sep
$     326,076      $     238,832      $ 193,215      $ 197,612       $     233,231      $   264,083    $   263,455
$     178,511      $     128,749      $ 108,250      $     91,805    $     127,989      $   132,196    $   153,012
$      26,713      $      23,170      $     17,251   $     15,438    $      20,145      $     22,674   $     23,908
        36.75              30.48             27.00          26.61            32.00             35.31           36.73
        32.46              26.22             22.98          20.21            26.54             30.30           32.82
            1.72               1.62           1.34           1.23                1.50           1.76               1.82
      Mar                Apr              May              Jun             Jul              Aug              Sep
$     326,558      $     243,173      $ 192,418      $ 194,249       $     236,904      $   266,728    $   265,873
$     182,435      $     128,310      $ 107,655      $     91,709    $     127,430      $   133,355    $   154,210
$      27,030      $      23,465      $     17,210   $     15,321    $      20,358      $     22,938   $     24,168
        37.97              31.50             27.90          27.50            33.07             36.49           37.96
        33.54              27.10             23.75          20.89            27.43             31.31           33.92
            1.72               1.62           1.34           1.23                1.50           1.76               1.82
      Mar                Apr              May              Jun             Jul              Aug              Sep
$     329,226      $     245,200      $ 197,134      $ 200,245       $     239,664      $   267,543    $   270,455
$     183,776      $     129,340      $ 110,259      $     94,577    $     128,990      $   136,154    $   153,410
$      27,258      $      23,645      $     17,622   $     15,785    $      20,586      $     23,138   $     24,352
        34.07              28.26             25.03          24.68            29.67             32.74           34.06
        30.09              24.31             21.31          18.74            24.61             28.09           30.43
            1.72               1.62           1.34           1.23                1.50           1.76               1.82
      Mar                Apr              May              Jun             Jul              Aug              Sep
$     332,353      $     249,805      $ 194,529      $ 200,027       $     241,352      $   270,387    $   273,050
$     185,378      $     131,702      $ 110,832      $     92,706    $     129,924      $   137,541    $   154,855
$      27,516      $      24,073      $     17,507   $     15,682    $      20,719      $     23,451   $     24,652
        35.33              29.31             25.95          25.59            30.76             33.95           35.31
        31.20              25.21             22.09          19.43            25.52             29.13           31.55
            1.72               1.62           1.34           1.23                1.50           1.76               1.82
      Mar                Apr              May              Jun             Jul              Aug              Sep
$     333,695      $     250,844      $ 195,193      $ 200,630       $     242,063      $   271,328    $   274,142
$     186,100      $     132,219      $ 111,191      $     92,963    $     130,268      $   137,958    $   155,406
$      27,617      $      24,168      $     17,565   $     15,732    $      20,788      $     23,539   $     24,755
        35.64              29.56             26.18          25.81            31.04             34.25           35.62
        31.48              25.43             22.29          19.60            25.75             29.39           31.83
            1.72               1.62           1.34           1.23                1.50           1.76               1.82




Mar                Apr                May            Jun             Jul                Aug            Sep
$             0    $             0    $         0    $           0   $             0    $         0    $             0
$             0    $             0    $         0    $           0   $             0    $         0    $             0
            0.00               0.00           0.00           0.00                0.00           0.00               0.00
         38.11               31.61            28.00          27.60            33.19            36.62          38.09
         33.66               27.19            23.83          20.96            27.53            31.42          34.04
      1.72                1.62              1.34           1.23             1.5              1.76           1.82
Mar                 Apr                 May            Jun            Jul                Aug            Sep
$              0    $              0    $          0   $          0   $             0    $          0   $            0
$              0    $              0    $          0   $          0   $             0    $          0   $            0
             0.00                0.00          0.00           0.00                0.00          0.00               0.00
         52.97               43.94            38.91          38.37            46.13            50.90          52.95
         46.79               37.80            33.13          29.14            38.26            43.68          47.31
      1.72                1.62              1.34           1.23             1.5              1.76           1.82
Mar                 Apr                 May            Jun            Jul                Aug            Sep
$              0    $              0    $          0   $          0   $             0    $          0   $            0
$              0    $              0    $          0   $          0   $             0    $          0   $            0
             0.00                0.00          0.00           0.00                0.00          0.00               0.00
         64.50               53.51            47.39          46.72            56.17            61.98          64.48
         56.97               46.02            40.34          35.48            46.60            53.19          57.61
      1.72                1.62              1.34           1.23             1.5              1.76           1.82
Mar                 Apr                 May            Jun            Jul                Aug            Sep
$              0    $              0    $          0   $          0   $             0    $          0   $            0
$              0    $              0    $          0   $          0   $             0    $          0   $            0
             0.00                0.00          0.00           0.00                0.00          0.00               0.00
         59.67               49.50            43.84          43.22            51.96            57.34          59.65
         52.70               42.58            37.32          32.82            43.11            49.20          53.30
      1.72                1.62              1.34           1.23             1.5              1.76           1.82
Mar                 Apr                 May            Jun            Jul                Aug            Sep
$              0    $              0    $          0   $          0   $             0    $          0   $            0
$              0    $              0    $          0   $          0   $             0    $          0   $            0
             0.00                0.00          0.00           0.00                0.00          0.00               0.00
         60.52               50.20            44.46          43.83            52.70            58.16          60.50
         53.45               43.18            37.85          33.29            43.72            49.90          54.06
      1.72                1.62              1.34           1.23             1.5              1.76           1.82
Mar                 Apr                 May            Jun            Jul                Aug            Sep
$              0    $              0    $          0   $          0   $             0    $          0   $            0
$              0    $              0    $          0   $          0   $             0    $          0   $            0
             0.00                0.00          0.00           0.00                0.00          0.00               0.00
         88.66               73.55            65.13          64.21            77.21            85.19          88.62
         78.31               63.26            55.44          48.76            64.04            73.10          79.19
      1.72                1.62              1.34           1.23             1.5              1.76           1.82
Mar                 Apr                 May            Jun            Jul                Aug            Sep
$              0    $              0    $          0   $          0   $             0    $          0   $            0
$              0    $              0    $          0   $          0   $             0    $          0   $            0
             0.00                0.00          0.00           0.00                0.00          0.00               0.00
         97.39               80.79            71.55          70.54            84.81            93.59          97.35
         86.02               69.49            60.91          53.57            70.36            80.31          86.99
      1.72                1.62              1.34           1.23             1.5              1.76           1.82
Mar                 Apr                 May            Jun            Jul                Aug            Sep
$              0    $              0    $          0   $          0   $             0    $          0   $            0
$              0    $              0    $          0   $          0   $             0    $          0   $            0
             0.00                0.00          0.00           0.00                0.00          0.00               0.00
         41.92               34.77            30.79          30.36            36.50            40.28          41.90
         37.02               29.91            26.21          23.05            30.28            34.56          37.44
      1.72                1.62              1.34           1.23             1.5              1.76           1.82
Mar                 Apr                 May            Jun            Jul                Aug            Sep
$              0    $              0    $          0   $          0   $             0    $          0   $            0
$              0    $              0    $          0   $          0   $             0    $          0   $            0
             0.00                0.00          0.00           0.00                0.00          0.00               0.00
         38.97               32.33            28.63          28.23            33.94            37.45          38.96
         34.42               27.81            24.37          21.44            28.15            32.13          34.81
      1.72                1.62              1.34           1.23             1.5              1.76           1.82
Mar                 Apr                 May            Jun            Jul                Aug            Sep
$              0    $              0    $          0   $          0   $             0    $          0   $            0
$              0    $              0    $          0   $          0   $             0    $          0   $            0
             0.00                0.00          0.00           0.00                0.00          0.00               0.00
         48.11               39.91            35.35          34.85            41.90            46.23          48.09
         42.50               34.33            30.09          26.46            34.76            39.67          42.97
         1.72                1.62              1.34           1.23                1.5           1.76           1.82




FY 2012             FY 2013             FY 2014        FY 2015        FY 2016
         36.56               37.70            34.15          35.31            35.59
         81.10               88.85            39.58          36.98            45.09
         81.10               88.85            39.58          36.98            45.09


Mar                 Apr                 May            Jun            Jul                Aug            Sep
$              0    $              0    $          0   $          0   $             0    $          0   $            0
$              0    $              0    $          0   $          0   $             0    $          0   $            0
             0.00                0.00          0.00           0.00                0.00          0.00               0.00
         38.11               31.61            28.00          27.60            33.19            36.62          38.09
         33.66               27.19            23.83          20.96            27.53            31.42          34.04
      1.72                1.62              1.34           1.23             1.5              1.76           1.82
Mar                 Apr                 May            Jun            Jul                Aug            Sep
$              0    $              0    $          0   $          0   $             0    $          0   $            0
$              0    $              0    $          0   $          0   $             0    $          0   $            0
             0.00                0.00          0.00           0.00                0.00          0.00               0.00
         52.97               43.94            38.91          38.37            46.13            50.90          52.95
         46.79               37.80            33.13          29.14            38.26            43.68          47.31
      1.72                1.62              1.34           1.23             1.5              1.76           1.82
Mar                 Apr                 May            Jun            Jul                Aug            Sep
$              0    $              0    $          0   $          0   $             0    $          0   $            0
$              0    $              0    $          0   $          0   $             0    $          0   $            0
             0.00                0.00          0.00           0.00                0.00          0.00               0.00
         64.50               53.51            47.39          46.72            56.17            61.98          64.48
         56.97               46.02            40.34          35.48            46.60            53.19          57.61
      1.72                1.62              1.34           1.23             1.5              1.76           1.82
Mar                 Apr                 May            Jun            Jul                Aug            Sep
$              0    $              0    $          0   $          0   $             0    $          0   $            0
$              0    $              0    $          0   $          0   $             0    $          0   $            0
             0.00                0.00          0.00           0.00                0.00          0.00               0.00
         59.67               49.50            43.84          43.22            51.96            57.34          59.65
         52.70               42.58            37.32          32.82            43.11            49.20          53.30
      1.72                1.62              1.34           1.23             1.5              1.76           1.82
Mar                 Apr                 May            Jun            Jul                Aug            Sep
$              0    $              0    $          0   $          0   $             0    $          0   $            0
$              0    $              0    $          0   $          0   $             0    $          0   $            0
             0.00                0.00          0.00           0.00                0.00          0.00               0.00
         60.52               50.20            44.46          43.83            52.70            58.16          60.50
         53.45               43.18            37.85          33.29            43.72            49.90          54.06
      1.72                1.62              1.34           1.23             1.5              1.76           1.82
Mar                 Apr                 May            Jun            Jul                Aug            Sep
$              0    $              0    $          0   $          0   $             0    $          0   $            0
$              0    $              0    $          0   $          0   $             0    $          0   $            0
             0.00                0.00          0.00           0.00                0.00          0.00               0.00
         88.66               73.55            65.13          64.21            77.21            85.19          88.62
         78.31               63.26            55.44          48.76            64.04            73.10          79.19
      1.72                1.62              1.34           1.23             1.5              1.76           1.82
Mar                 Apr                 May            Jun            Jul                Aug            Sep
$              0    $              0    $          0   $          0   $             0    $          0   $            0
$              0    $              0    $          0   $          0   $             0    $          0   $            0
             0.00                0.00          0.00           0.00                0.00          0.00               0.00
         97.39               80.79            71.55          70.54            84.81            93.59          97.35
         86.02               69.49            60.91          53.57            70.36            80.31          86.99
      1.72                1.62              1.34           1.23             1.5              1.76           1.82
Mar                 Apr                 May            Jun            Jul                Aug            Sep
$              0    $              0    $          0   $          0   $             0    $          0   $            0
$              0    $              0    $           0   $          0   $             0    $          0   $            0
             0.00                0.00           0.00           0.00                0.00          0.00               0.00
         41.92               34.77             30.79          30.36            36.50            40.28          41.90
         37.02               29.91             26.21          23.05            30.28            34.56          37.44
      1.72                1.62               1.34           1.23             1.5              1.76           1.82
Mar                 Apr                 May             Jun            Jul                Aug            Sep
$              0    $              0    $           0   $          0   $             0    $          0   $            0
$              0    $              0    $           0   $          0   $             0    $          0   $            0
             0.00                0.00           0.00           0.00                0.00          0.00               0.00
         38.97               32.33             28.63          28.23            33.94            37.45          38.96
         34.42               27.81             24.37          21.44            28.15            32.13          34.81
            1.72                1.62            1.34           1.23                1.5           1.76           1.82
      Mar                 Apr                May            Jun              Jul          Aug         Sep
       0.00                   0.00               0.00      0.00        0.00                0.0022725    0.002273
       0.00                   0.00               0.00      0.00        0.00                0.0015375 0.0016248
  0.000172               0.000162           0.000134 0.000123      0.00015                  0.000176    0.000182
      48.11                  39.91              35.35    34.85        41.90                 46.23297 48.092703
42.4950076              34.328812           30.08774 26.463108 34.7553518                   39.67058 42.973196
      1.72                   1.62               1.34      1.23        1.50                       1.76        1.82
                                LV             0.00
$   3,270,497 $ 3,238,572   $        13,805   33.33
$   1,753,454                        58.31%
$     295,277




                                LV
$   3,298,348 $ 3,197,251   $        16,518   32.45
$   1,787,591                        56.61%
$     301,503




                                LV
$   3,304,187 $ 3,399,875   $        16,924   34.48
$   1,788,680                        60.49%
$     302,499




                                LV
$   3,341,990 $ 3,544,586   $        17,294   35.53
$   1,807,578                        62.53%
$     307,106




                                LV
$   3,361,827 $ 3,774,860   $        17,593   37.66
$   1,815,007                        66.60%
$     309,380
                                  LV
$   3,440,631 $ 3,762,376    $         18,585        36.56
$   1,859,228                          64.64%
$     318,056




                                  LV
$   3,456,061 $ 3,893,479    $         18,796        37.70
$   1,864,904                          66.80%
$     320,307




                                  LV
$   3,499,804 $ 3,571,879    $         19,118        34.15
$   1,886,423                          59.93%
$     324,692




                                  LV
$   3,527,489 $ 3,719,547    $         19,445        35.31
$   1,899,964                          62.14%
$     327,277




                                  LV
$   3,540,755 $ 3,763,073    $         19,445        35.59
$   1,906,713                          62.69%
$     328,531




                                                       0.00
$          0   0.031708548                      36.1969724
$          0                     0.670334537
$          0
$   0   0.043400069                 49.4080927
$   0                 0.931775009
$   0




$   0   0.052250496                 59.6466848
$   0                 1.134663863
$   0




$   0   0.048486704                  55.350119
$   0                 1.049644345
$   0




$   0   0.049152489                 56.1101474
$   0                 1.064583234
$   0




$   0   0.071240992                 81.1031334
$   0                 1.559516907
$   0




$   0   0.077833932                 88.8515206
$   0                 1.713205239
$   0
$   0   0.034676321                  39.584841
$   0                 0.737309531
$   0




$   0   0.032391003                 36.9760312
$   0                 0.685548644
$   0




$   0   0.039610076                  45.093438
$   0                 0.846320331
$   0




                                           -
$   0   0.031708548                 36.1969724
$   0                 0.670334537
$   0




$   0   0.043400069                 49.4080927
$   0                 0.931775009
$   0




$   0   0.052250496                 59.6466848
$   0                 1.134663863
$   0




$   0   0.048486704                  55.350119
$   0                 1.049644345
$   0




$   0   0.049152489                 56.1101474
$   0                 1.064583234
$   0




$   0   0.071240992                 81.1031334
$   0                 1.559516907
$   0




$   0   0.077833932                 88.8515206
$   0                 1.713205239
$   0




$   0   0.034676321                  39.584841
$            0                0.737309531
$            0




$            0 0.032391003                  36.9760312
$            0                0.685548644
       0.002075




    0.026617013 0.039610076                  45.093438
    0.017733896               0.846320331
        0.002075
Total Transmission Costs Allocated to PF Rates                                                                             $        143,877     $       155,704    $             -       $       166,544    $       167,501    $       174,533    $       174,559    $             -       $             -       $             -


                                                                                                                               FY 2007              FY 2008            FY 2009               FY 2010            FY 2011            FY 2012            FY 2013            FY 2014               FY 2015               FY 2016
Initial Allocation to Rate Pools.......................................................................
Priority Firm......................................................................................................        $       3,238,572    $     3,197,251    $     3,399,875       $     3,544,586    $     3,774,860    $     3,762,376    $     3,893,479    $     3,571,879       $     3,719,547       $     3,763,073
Industrial Firm..................................................................................................          $               0    $             0    $             0       $             0    $             0    $             0    $             0    $             0       $             0       $             0
New Resource Firm.........................................................................................                 $               0    $             0    $             0       $             0    $             0    $             0    $             0    $             0       $             0       $             0
Surplus Firm Other..........................................................................................               $         101,368    $       103,484    $       124,271       $       133,409    $       122,446    $        26,705    $        26,561    $        30,589       $        30,589       $        30,589
Total...................................................................................................................   $       3,339,940    $     3,300,735    $     3,524,147       $     3,677,995    $     3,897,305    $     3,789,080    $     3,920,040    $     3,602,468       $     3,750,136       $     3,793,662


                                                                                                                               FY 2007              FY 2008            FY 2009               FY 2010            FY 2011            FY 2012            FY 2013            FY 2014               FY 2015               FY 2016
IP-PF Linc Allocation.......................................................................................
Priority Firm......................................................................................................        $               0 $                 0 $           0.023 $                    0 $                0 $                0 $                0 $                    0 $                   0 $                   0
Industrial Firm..................................................................................................          $              (0) $               (0) $         (0.023) $                  (0) $              (0) $              (0) $              (0) $                  (0) $                 (0) $                 (0)
New Resource Firm.........................................................................................                 $               0 $                 0 $               0 $                    0 $                0 $                0 $                0 $                    0 $                   0 $                   0
Surplus Firm Other..........................................................................................
Total...................................................................................................................   $              (0) $               0    $                 0   $             0    $             0    $             0    $             0    $                 0   $                 0   $                 (0)


                                                                                                                               FY 2007              FY 2008            FY 2009               FY 2010            FY 2011            FY 2012            FY 2013            FY 2014               FY 2015               FY 2016
Allocation to Rate Pools after Linc...............................................................
Priority Firm Preference.................................................................................                  $       2,060,960    $     2,036,582    $     2,176,569       $     2,272,915    $     2,411,719    $     2,427,620    $     2,502,946    $     2,302,969       $     2,397,621       $     2,416,865
Priority Firm Exchange...................................................................................                  $       1,177,612    $     1,160,669    $     1,223,306       $     1,271,671    $     1,363,141    $     1,334,755    $     1,390,533    $     1,268,910       $     1,321,926       $     1,346,208
Industrial Firm..................................................................................................          $               0    $             0    $             0       $             0    $             0    $             0    $             0    $             0       $             0       $             0
New Resource Firm.........................................................................................                 $               0    $             0    $             0       $             0    $             0    $             0    $             0    $             0       $             0       $             0
Surplus Firm Other..........................................................................................               $         101,368    $       103,484    $       124,271       $       133,409    $       122,446    $        26,705    $        26,561    $        30,589       $        30,589       $        30,589
Total...................................................................................................................   $       3,339,940    $     3,300,735    $     3,524,147       $     3,677,995    $     3,897,305    $     3,789,080    $     3,920,040    $     3,602,468       $     3,750,136       $     3,793,662


                                                                                                                               FY 2007              FY 2008            FY 2009               FY 2010            FY 2011            FY 2012            FY 2013            FY 2014               FY 2015               FY 2016
7b2 Protection Allocation...............................................................................
Priority Firm Preference.................................................................................                  $        (507,095)   $      (514,601)   $      (517,612)      $      (524,580)   $      (525,123)   $      (544,482)   $      (544,420)   $      (553,053)      $      (556,837)      $      (556,837)
Priority Firm Exchange...................................................................................                  $         240,430    $       271,613    $       312,318       $       321,801    $       320,875    $       351,147    $       350,727    $       455,553       $       460,471       $       463,252
Industrial Firm..................................................................................................          $               0    $             0    $             0       $             0    $             0    $             0    $             0    $             0       $             0       $             0
New Resource Firm.........................................................................................                 $               0    $             0    $             0       $             0    $             0    $             0    $             0    $             0       $             0       $             0
Surplus Firm Other..........................................................................................
Total...................................................................................................................   $        (266,665) $        (242,988) $        (205,293) $           (202,779) $        (204,249) $        (193,336) $        (193,693) $         (97,500) $            (96,366) $            (93,585)


                                                                                                                               FY 2007              FY 2008            FY 2009               FY 2010            FY 2011            FY 2012            FY 2013            FY 2014               FY 2015               FY 2016
Allocation to Rate Pools after 7b2.................................................................
Priority Firm Preference.................................................................................                  $       1,553,865    $     1,521,981    $     1,658,957       $     1,748,335    $     1,886,596    $     1,883,138    $     1,958,525    $     1,749,916       $     1,840,785       $     1,860,028
Priority Firm Exchange...................................................................................                  $       1,418,042    $     1,432,282    $     1,535,625       $     1,593,472    $     1,684,015    $     1,685,902    $     1,741,261    $     1,724,463       $     1,782,396       $     1,809,460
Industrial Firm..................................................................................................          $             0.03   $          0.03    $          0.04       $          0.04    $          0.04    $          0.04    $          0.04    $          0.04       $          0.04       $          0.04
New Resource Firm.........................................................................................                 $          0.0377    $          0.05    $          0.06       $          0.06    $          0.06    $          0.08    $          0.09    $          0.05       $          0.04       $          0.05
Surplus Firm Other..........................................................................................               $         101,368    $       103,484    $       124,271       $       133,409    $       122,446    $        26,705    $        26,561    $        30,589       $        30,589       $        30,589
Total...................................................................................................................   $       3,073,275    $     3,057,747    $     3,318,854       $     3,475,216    $     3,693,057    $     3,595,745    $     3,726,348    $     3,504,968       $     3,653,770       $     3,700,077
                                                                                                                                   FY 2007                FY 2008              FY 2009            FY 2010              FY 2011            FY 2012              FY 2013              FY 2014              FY 2015            FY 2016
IP-PF Linc 2 Allocation....................................................................................
Priority Firm Preference.................................................................................                      $             -        $           -       $            -      $           -       $            -      $           -       $            -       $            -       $            -      $           -
Priority Firm Exchange...................................................................................                      $         0.00677      $       0.00683     $        0.00682    $       0.00680     $        0.00682    $       0.00691     $        0.00691     $        0.00692     $        0.00692    $       0.00694
Industrial Firm..................................................................................................              $        (0.00677)     $      (0.00683)    $       (0.00682)   $      (0.00680)    $       (0.00682)   $      (0.00691)    $       (0.00691)    $       (0.00692)    $       (0.00692)   $      (0.00694)
New Resource Firm.........................................................................................                     $             -        $           -       $            -      $           -       $            -      $           -       $            -       $            -       $            -      $           -
Surplus Firm Other..........................................................................................
Total...................................................................................................................       $              (0.00) $              (0.00) $         (0.00) $               (0.00) $         (0.00) $               (0.00) $             (0.00) $             (0.00) $         (0.00) $           (0.00)


                                                                                                                                   FY 2007                FY 2008              FY 2009            FY 2010              FY 2011            FY 2012              FY 2013              FY 2014              FY 2015            FY 2016
Allocation to Rate Pools after IP-PF Linc 2..................................................
Priority Firm Preference.................................................................................                      $       1,553,865      $     1,521,981     $      1,658,957    $     1,748,335     $      1,886,596    $     1,883,138     $      1,958,525     $      1,749,916     $      1,840,785    $     1,860,028
Priority Firm Exchange...................................................................................                      $       1,418,042      $     1,432,282     $      1,535,625    $     1,593,472     $      1,684,015    $     1,685,902     $      1,741,261     $      1,724,463     $      1,782,396    $     1,809,460
Industrial Firm..................................................................................................              $             0.03     $          0.03     $         0.0302    $          0.03     $           0.03    $          0.03     $           0.03     $           0.03     $           0.03    $          0.03
New Resource Firm.........................................................................................                     $          0.0377      $          0.05     $            0.06   $          0.06     $           0.06    $          0.08     $           0.09     $           0.05     $           0.04    $          0.05
Surplus Firm Other..........................................................................................                   $         101,368      $       103,484     $        124,271    $       133,409     $        122,446    $        26,705     $         26,561     $         30,589     $         30,589    $        30,589
Total...................................................................................................................       $       3,073,275      $     3,057,747     $      3,318,854    $     3,475,216     $      3,693,057    $     3,595,745     $      3,726,348     $      3,504,968     $      3,653,770    $     3,700,077




                                                                IOU REP Settlement Costs                                       $                -     $              -    $              -    $              -    $              -    $              -    $               -    $               -    $              -    $             -
                                         Net Cost of IOU Traditional REP Already in Rates                                      $                -     $              -    $              -    $              -    $              -    $              -    $               -    $               -    $              -    $             -

                                                                                          Amount to Allocate                   $                -     $              -    $              -    $              -    $              -    $              -    $               -    $               -    $              -    $             -

                                                                                                                                   FY 2007                FY 2008              FY 2009            FY 2010              FY 2011            FY 2012              FY 2013              FY 2014              FY 2015            FY 2016
Allocation of IOU REP Subscription Settlement Costs
                                                                                                                           x

Priority Firm Preference.................................................................................                      $                -     $              -    $              -    $              -    $              -    $              -    $               -    $               -    $              -    $             -
Priority Firm Exchange...................................................................................
Industrial Firm..................................................................................................              $                -     $              -    $              -    $              -    $              -    $              -    $               -    $               -    $              -    $             -
New Resource Firm.........................................................................................
Surplus Firm Other..........................................................................................
Total...................................................................................................................       $                -     $              -    $              -    $              -    $              -    $              -    $               -    $               -    $              -    $             -


                                                                                                                                   FY 2007                FY 2008              FY 2009            FY 2010              FY 2011            FY 2012              FY 2013              FY 2014              FY 2015            FY 2016
Allocation to Rate Pools after Subscription Step.......................................
Priority Firm Preference.................................................................................                      $       1,553,865      $     1,521,981     $      1,658,957    $     1,748,335     $      1,886,596    $     1,883,138     $      1,958,525     $      1,749,916     $      1,840,785    $     1,860,028
Priority Firm Exchange...................................................................................                      $       1,418,042      $     1,432,282     $      1,535,625    $     1,593,472     $      1,684,015    $     1,685,902     $      1,741,261     $      1,724,463     $      1,782,396    $     1,809,460
Industrial Firm..................................................................................................              $               0      $             0     $              0    $             0     $              0    $             0     $              0     $              0     $              0    $             0
New Resource Firm.........................................................................................                     $               0      $             0     $              0    $             0     $              0    $             0     $              0     $              0     $              0    $             0
Surplus Firm Other..........................................................................................                   $         101,368      $       103,484     $        124,271    $       133,409     $        122,446    $        26,705     $         26,561     $         30,589     $         30,589    $        30,589
Total...................................................................................................................       $       3,073,275      $     3,057,747     $      3,318,854    $     3,475,216     $      3,693,057    $     3,595,745     $      3,726,348     $      3,504,968     $      3,653,770    $     3,700,077

                                                                                                                               $                -     $              -    $              -    $              -    $              -    $              -    $               -
                                                                                                                                   FY 2007                FY 2008              FY 2009            FY 2010              FY 2011            FY 2012              FY 2013              FY 2014              FY 2015            FY 2016
Allocation of Slice Net Revenue Requirement
                                                                                                                               $        473,040       $       456,711     $        521,038    $       492,154     $        510,408    $       513,484     $        531,504     $        541,223     $        545,632    $       555,095

Priority Firm Preference.................................................................................                      $        (473,040)     $      (456,711)    $       (521,038)   $      (492,154)    $       (510,408)   $      (513,484)    $       (531,504)    $       (541,223)    $       (545,632)   $      (555,095)
Priority Firm Exchange...................................................................................                      $             -        $           -       $            -      $           -       $            -      $           -       $            -       $            -       $            -      $           -
Industrial Firm..................................................................................................              $             -        $           -       $            -      $           -       $            -      $           -       $            -       $            -       $            -      $           -
New Resource Firm.........................................................................................                     $             -        $           -       $            -      $           -       $            -      $           -       $            -       $            -       $            -      $           -
Surplus Firm Other..........................................................................................                   $             -        $           -       $            -      $           -       $            -      $           -       $            -       $            -       $            -      $           -
Total...................................................................................................................       $        (473,040)     $      (456,711)    $       (521,038)   $      (492,154)    $       (510,408)   $      (513,484)    $       (531,504)    $       (541,223)    $       (545,632)   $      (555,095)


                                                                                                                                   FY 2007                FY 2008              FY 2009            FY 2010              FY 2011            FY 2012              FY 2013              FY 2014              FY 2015            FY 2016


Slice Secondary Revenue Credit Adjustment                                                                                      $        175,658       $       170,282     $        175,193    $       171,010     $        186,074    $       194,911     $        205,066     $        205,066     $        205,066    $       205,066


                                                                                                                                   FY 2007                FY 2008              FY 2009            FY 2010              FY 2011            FY 2012              FY 2013              FY 2014              FY 2015            FY 2016


Non-Slice PF Reduction in Net REP Benefit Costs                                                                                $                -     $              -    $              -    $              -    $              -    $              -    $               -    $               -    $              -    $             -


                                                                                                                                   FY 2007                FY 2008              FY 2009            FY 2010              FY 2011            FY 2012              FY 2013              FY 2014              FY 2015            FY 2016


Non-Slice Priority Firm Preference...............................................................                              $       1,256,483      $     1,235,551     $      1,313,112    $     1,427,191     $      1,562,261    $     1,564,565     $      1,632,087     $      1,413,759     $      1,500,218    $     1,509,999
Priority Firm Exchange...................................................................................                      $       1,418,042      $     1,432,282     $      1,535,625    $     1,593,472     $      1,684,015    $     1,685,902     $      1,741,261     $      1,724,463     $      1,782,396    $     1,809,460
Industrial Firm..................................................................................................              $          0.0275      $        0.0275     $         0.0302    $        0.0313     $         0.0330    $        0.0328     $         0.0335     $              0     $              0    $             0
New Resource Firm.........................................................................................                     $               0      $             0     $              0    $             0     $              0    $             0     $              0     $              0     $              0    $             0
Surplus Firm Other..........................................................................................                   $         101,368      $       103,484     $        124,271    $       133,409     $        122,446    $        26,705     $         26,561     $         30,589     $         30,589    $        30,589
Total...................................................................................................................       $       2,775,893      $     2,771,318     $      2,973,009    $     3,154,072     $      3,368,722    $     3,277,172     $      3,399,909     $      3,168,810     $      3,313,203    $     3,350,048


                                                                                                                               $                -     $              -    $              -    $              -    $              -    $              -    $               -    $               -    $              -    $             -




                                                                                                                                   FY 2007                FY 2008              FY 2009            FY 2010              FY 2011            FY 2012              FY 2013              FY 2014              FY 2015            FY 2016


Non-Slice Priority Firm Preference...............................................................                              $         (0.0026) $           (0.0020) $           (0.0003) $         (0.0009) $           (0.0013) $         (0.0007) $           (0.0008) $            0.0025     $         0.0024    $        0.0025
Priority Firm Exchange...................................................................................
Industrial Firm..................................................................................................              $             0.0026   $        0.0020     $         0.0003    $        0.0009     $         0.0013    $        0.0007     $         0.0008     $        (0.0025) $           (0.0024) $         (0.0025)
New Resource Firm.........................................................................................
Surplus Firm Other..........................................................................................
Total...................................................................................................................       $                -     $              -    $              -    $              -    $              -    $              -    $               -    $               -    $              -    $             -




                                                                                                                                   FY 2007                FY 2008              FY 2009            FY 2010              FY 2011            FY 2012              FY 2013              FY 2014              FY 2015            FY 2016


Non-Slice Priority Firm Preference...............................................................                              $       1,256,483      $     1,235,551     $      1,313,112    $     1,427,191     $      1,562,261    $     1,564,565     $      1,632,087     $      1,413,759     $      1,500,218    $     1,509,999
Priority Firm Exchange...................................................................................                      $       1,418,042      $     1,432,282     $      1,535,625    $     1,593,472     $      1,684,015    $     1,685,902     $      1,741,261     $      1,724,463     $      1,782,396    $     1,809,460
Industrial Firm..................................................................................................              $          0.0301      $        0.0295     $         0.0305    $        0.0322     $         0.0342    $        0.0335     $         0.0344     $         0.0304     $         0.0315    $        0.0317
New Resource Firm.........................................................................................                     $               0      $             0     $              0    $             0     $              0    $             0     $              0     $              0     $              0    $             0
Surplus Firm Other..........................................................................................                   $         101,368      $       103,484     $        124,271    $       133,409     $        122,446    $        26,705     $         26,561     $         30,589     $         30,589    $        30,589
Total...................................................................................................................       $       2,775,893      $     2,771,318     $      2,973,009    $     3,154,072     $      3,368,722    $     3,277,172     $      3,399,909     $      3,168,810     $      3,313,203    $     3,350,048




                                                                                                                                                                               151134.1301
                                                                                                                                                                          $      1,686,759
                                                                          Ctrl "i"

                                                                          FY 2007            FY 2008


               1 IP Allocated Costs                                          0.0       0.0
               2 IP Revenues @ Net Margin                              0.000502  0.000503
               3 adjustment                                            (0.00033) (0.00037)
               4 IP Marginal Cost Rate Revenues                              0.0       0.0
               5 PF Marginal Cost Rate Revenues                       5,319,228 5,387,443
               6 PF Allocated Energy Costs                            3,238,572 3,197,251
               7 Numerator: 1-2-3-((4/5)*6)                                  0.0       0.0
               8
               9 PF Allocation Factor for Delta                             11,415             11,542
              10 NR Allocation Factor for Delta                              0.000              0.000
              11 Total Allocation Factors for Delta                         11,415             11,542
              12 Denominator: 1.0 + ((9/11)*(4/5))                           1.0000             1.0000
              13
              14 DELTA: (7/12)                                               0.003              0.016

                                                                              0.573             0.573


      DSI Loads                 Oct           Nov           Dec             Jan               Feb
           2007      HLH              0             0             0                  0                 0
                      LLH             0             0             0                  0                 0
                   Demand             0             0             0                  0                 0
Unbifurcated PF      HLH $      31.10     $   36.75     $   38.56     $       34.48      $      34.56
                      LLH $     26.87     $   30.33     $   31.95     $       29.16      $      30.55
                   Demand $      1.91     $    2.04     $    2.14     $        1.82      $       1.85
      PF rate revenues      $         0   $         0   $         0   $             0    $             0
              IP     HLH $      31.71     $   37.47     $   39.31     $       35.15      $      35.23
                      LLH $     27.39     $   30.92     $   32.57     $       29.73      $      31.14
                   Demand $      1.91     $    2.04     $    2.14     $        1.82      $       1.85
      IP rate revenues      $         0   $         0   $         0   $             0    $             0


                                Oct           Nov           Dec             Jan               Feb
           2008      HLH              0             0             0                  0                 0
                      LLH             0             0             0                  0                 0
                   Demand             0             0             0                  0                 0
Unbifurcated PF      HLH $      30.20     $   35.68     $   37.44     $       33.48      $      33.55
                      LLH $     26.08     $   29.44     $   31.02     $       28.31      $      29.66
                   Demand $      1.91     $    2.04     $    2.14     $     1.82    $     1.85
      PF rate revenues      $         0   $         0   $         0   $         0   $         0
              IP     HLH $      30.80     $   36.40     $   38.19     $    34.15    $    34.22
                      LLH $     26.61     $   30.03     $   31.64     $    28.88    $    30.25
                   Demand $      1.91     $    2.04     $    2.14     $     1.82    $     1.85
      IP rate revenues      $         0   $         0   $         0   $         0   $         0


                                Oct           Nov           Dec           Jan           Feb
           2009      HLH              0             0             0             0             0
                      LLH             0             0             0             0             0
                   Demand             0             0             0             0             0
Unbifurcated PF      HLH $      32.26     $   38.12     $   40.00     $    35.77    $    35.85
                      LLH $     27.87     $   31.46     $   33.14     $    30.25    $    31.69
                   Demand $      1.91     $    2.04     $    2.14     $     1.82    $     1.85
      PF rate revenues      $         0   $         0   $         0   $         0   $         0
              IP     HLH $      32.87     $   38.84     $   40.75     $    36.44    $    36.52
                      LLH $     28.39     $   32.05     $   33.76     $    30.81    $    32.28
                   Demand $      1.91     $    2.04     $    2.14     $     1.82    $     1.85
      IP rate revenues      $         0   $         0   $         0   $         0   $         0


                                Oct           Nov           Dec           Jan           Feb
           2010      HLH              0             0             0             0             0
                      LLH             0             0             0             0             0
                   Demand             0             0             0             0             0
Unbifurcated PF      HLH $      33.35     $   39.41     $   41.35     $    36.98    $    37.06
                      LLH $     28.81     $   32.52     $   34.26     $    31.27    $    32.76
                   Demand $      1.91     $    2.04     $    2.14     $     1.82    $     1.85
      PF rate revenues      $         0   $         0   $         0   $         0   $         0
              IP     HLH $      33.96     $   40.13     $   42.10     $    37.65    $    37.73
                      LLH $     29.34     $   33.11     $   34.89     $    31.84    $    33.35
                   Demand $      1.91     $    2.04     $    2.14     $     1.82    $     1.85
      IP rate revenues      $         0   $         0   $         0   $         0   $         0


                                Oct           Nov           Dec           Jan           Feb
           2011      HLH              0             0             0             0             0
                      LLH             0             0             0             0             0
                   Demand             0             0             0             0             0
Unbifurcated PF      HLH $      35.52     $   41.98     $   44.04     $    39.38    $    39.47
                      LLH $     30.69     $   34.64     $   36.49     $    33.31    $    34.89
                   Demand $      1.91     $    2.04     $    2.14     $     1.82    $     1.85
      PF rate revenues      $         0   $         0   $         0   $         0   $         0
              IP     HLH $      36.13     $   42.69     $   44.79     $    40.06    $    40.15
                      LLH $     31.21     $   35.23     $   37.12     $    33.87    $    35.49
                   Demand $      1.91     $    2.04     $    2.14     $     1.82    $     1.85
      IP rate revenues      $         0   $         0   $         0   $         0   $         0


                                Oct           Nov           Dec           Jan           Feb
           2012      HLH              0             0             0             0             0
                      LLH             0             0             0             0             0
                   Demand             0             0             0             0             0
Unbifurcated PF      HLH $      34.48     $   40.74     $   42.74     $    38.22    $    38.31
                      LLH $     29.78     $   33.62     $   35.42     $    32.32    $    33.86
                   Demand $      1.91     $    2.04     $    2.14     $     1.82    $     1.85
      PF rate revenues      $         0   $         0   $         0   $         0   $         0
              IP     HLH $      35.08     $   41.46     $   43.49     $    38.89    $    38.98
                      LLH $     30.31     $   34.21     $   36.04     $    32.89    $    34.46
                   Demand $      1.91     $    2.04     $    2.14     $     1.82    $     1.85
      IP rate revenues      $         0   $         0   $         0   $         0   $         0


                                Oct           Nov           Dec           Jan           Feb
           2013      HLH              0             0             0             0             0
                      LLH             0             0             0             0             0
                   Demand             0             0             0             0             0
Unbifurcated PF      HLH $      35.63     $   42.10     $   44.17     $    39.50    $    39.59
                      LLH $     30.78     $   34.74     $   36.60     $    33.40    $    35.00
                   Demand $      1.91     $    2.04     $    2.14     $     1.82    $     1.85
      PF rate revenues      $         0   $         0   $         0   $         0   $         0
              IP     HLH $      36.23     $   42.82     $   44.92     $    40.17    $    40.26
                      LLH $     31.30     $   35.33     $   37.22     $    33.97    $    35.59
                   Demand $      1.91     $    2.04     $    2.14     $     1.82    $     1.85
      IP rate revenues      $         0   $         0   $         0   $         0   $         0


                                Oct           Nov           Dec           Jan           Feb
           2014      HLH              0             0             0             0             0
                      LLH             0             0             0             0             0
                   Demand             0             0             0             0             0
Unbifurcated PF      HLH $      31.97     $   37.77     $   39.63     $    35.44    $    35.52
                      LLH $     27.61     $   31.17     $   32.84     $    29.97    $    31.40
                   Demand $      1.91     $    2.04     $    2.14     $     1.82    $     1.85
      PF rate revenues      $         0   $         0   $         0   $         0   $         0
              IP     HLH $      32.57     $   38.49     $   40.38     $    36.11    $    36.19
                      LLH $     28.14     $   31.76     $   33.46     $    30.54    $    31.99
                   Demand $      1.91     $    2.04     $    2.14     $     1.82    $     1.85
      IP rate revenues      $         0   $         0   $         0   $         0   $         0
                                Oct           Nov           Dec            Jan               Feb
           2015      HLH              0             0             0                 0                 0
                      LLH             0             0             0                 0                 0
                   Demand             0             0             0                 0                 0
Unbifurcated PF      HLH $      33.15     $   39.17     $   41.09     $      36.75      $      36.83
                      LLH $     28.63     $   32.32     $   34.05     $      31.08      $      32.56
                   Demand $      1.91     $    2.04     $    2.14     $       1.82      $       1.85
      PF rate revenues      $         0   $         0   $         0   $             0   $             0
              IP     HLH $      33.75     $   39.88     $   41.84     $      37.42      $      37.50
                      LLH $     29.16     $   32.91     $   34.67     $      31.64      $      33.15
                   Demand $      1.91     $    2.04     $    2.14     $       1.82      $       1.85
      IP rate revenues      $         0   $         0   $         0   $             0   $             0


                                Oct           Nov           Dec            Jan               Feb
           2016      HLH              0             0             0                 0                 0
                      LLH             0             0             0                 0                 0
                   Demand             0             0             0                 0                 0
Unbifurcated PF      HLH $      33.44     $   39.51     $   41.46     $      37.07      $      37.15
                      LLH $     28.89     $   32.60     $   34.35     $      31.35      $      32.84
                   Demand $      1.91     $    2.04     $    2.14     $       1.82      $       1.85
      PF rate revenues      $         0   $         0   $         0   $             0   $             0
              IP     HLH $      34.04     $   40.23     $   42.21     $      37.74      $      37.83
                      LLH $     29.41     $   33.19     $   34.97     $      31.92      $      33.44
                   Demand $      1.91     $    2.04     $    2.14     $       1.82      $       1.85
      IP rate revenues      $         0   $         0   $         0   $             0   $             0




                                                                          FY 2007           FY 2008


                            UNBIFURCATED PF (flat)                           31.79             30.95
    FY 2009           FY 2010           FY 2011           FY 2012           FY 2013           FY 2014           FY 2015


       0.1       0.0       0.0       0.1       0.1       0.0       0.0
 0.000502 0.000502   0.000502  0.000503  0.000502  0.000502  0.000502
 (0.00035) (0.00035) (0.00033) (0.00035) (0.00034) (0.00038) (0.00037)
       0.0       0.0       0.0       0.0       0.0       0.0       0.0
5,395,366 5,456,674 5,486,214 5,617,915 5,641,272 5,710,920 5,754,730
3,399,875 3,544,586 3,774,860 3,762,376 3,893,479 3,571,879 3,719,547
  0.02293        0.0       0.0       0.0       0.0       0.0       0.0

      11,582            11,719            11,774            12,055            12,132            12,288            12,375
       0.000             0.000             0.000             0.000             0.000             0.000             0.000
      11,582            11,719            11,774            12,055            12,132            12,288            12,375
       1.0000            1.0000            1.0000            1.0000            1.0000            1.0000            1.0000

       0.023             0.018             0.017             0.040             0.046             0.006             0.002

       0.573             0.572             0.573             0.573             0.573             0.573             0.573


     Mar                Apr              May               Jun                Jul              Aug               Sep
              0                 0                 0                 0                 0                 0                 0
              0                 0                 0                 0                 0                 0                 0
              0                 0                 0                 0                 0                 0                 0
$      33.15      $      27.50      $      24.35      $      24.01      $      28.87      $      31.85      $      33.14
$      29.28      $      23.65      $      20.73      $      18.23      $      23.95      $      27.33      $      29.61
$       1.72      $       1.62      $       1.34      $       1.23      $       1.50      $       1.76      $       1.82
$             0   $             0   $             0   $             0   $             0   $             0   $             0
$      33.79      $      28.03      $      24.83      $      24.48      $      29.43      $      32.47      $      33.78
$      29.85      $      24.11      $      21.13      $      18.59      $      24.41      $      27.86      $      30.18
$       1.72      $       1.62      $       1.34      $       1.23      $       1.50      $       1.76      $       1.82
$             0   $             0   $             0   $             0   $             0   $             0   $             0


     Mar                Apr              May               Jun                Jul              Aug               Sep
              0                 0                 0                 0                 0                 0                 0
              0                 0                 0                 0                 0                 0                 0
              0                 0                 0                 0                 0                 0                 0
$      32.18      $      26.70      $      23.64      $      23.31      $      28.03      $      30.93      $      32.17
$      28.43      $      22.96      $      20.13      $      17.70      $      23.25      $      26.54      $      28.75
$     1.72    $     1.62    $     1.34    $     1.23    $     1.50    $     1.76    $     1.82
$         0   $         0   $         0   $         0   $         0   $         0   $         0
$    32.83    $    27.23    $    24.12    $    23.78    $    28.59    $    31.55    $    32.81
$    29.00    $    23.42    $    20.53    $    18.06    $    23.71    $    27.07    $    29.32
$     1.72    $     1.62    $     1.34    $     1.23    $     1.50    $     1.76    $     1.82
$         0   $         0   $         0   $         0   $         0   $         0   $         0


    Mar           Apr           May           Jun           Jul           Aug           Sep
          0             0             0             0             0             0             0
          0             0             0             0             0             0             0
          0             0             0             0             0             0             0
$    34.39    $    28.52    $    25.26    $    24.90    $    29.94    $    33.04    $    34.37
$    30.37    $    24.53    $    21.50    $    18.91    $    24.84    $    28.35    $    30.71
$     1.72    $     1.62    $     1.34    $     1.23    $     1.50    $     1.76    $     1.82
$         0   $         0   $         0   $         0   $         0   $         0   $         0
$    35.03    $    29.06    $    25.74    $    25.37    $    30.51    $    33.66    $    35.02
$    30.94    $    24.99    $    21.91    $    19.27    $    25.31    $    28.88    $    31.29
$     1.72    $     1.62    $     1.34    $     1.23    $     1.50    $     1.76    $     1.82
$         0   $         0   $         0   $         0   $         0   $         0   $         0


    Mar           Apr           May           Jun           Jul           Aug           Sep
          0             0             0             0             0             0             0
          0             0             0             0             0             0             0
          0             0             0             0             0             0             0
$    35.55    $    29.49    $    26.12    $    25.75    $    30.96    $    34.16    $    35.53
$    31.40    $    25.36    $    22.23    $    19.55    $    25.68    $    29.31    $    31.75
$     1.72    $     1.62    $     1.34    $     1.23    $     1.50    $     1.76    $     1.82
$         0   $         0   $         0   $         0   $         0   $         0   $         0
$    36.19    $    30.02    $    26.59    $    26.21    $    31.52    $    34.78    $    36.18
$    31.97    $    25.82    $    22.63    $    19.91    $    26.15    $    29.84    $    32.33
$     1.72    $     1.62    $     1.34    $     1.23    $     1.50    $     1.76    $     1.82
$         0   $         0   $         0   $         0   $         0   $         0   $         0


    Mar           Apr           May           Jun           Jul           Aug           Sep
          0             0             0             0             0             0             0
          0             0             0             0             0             0             0
          0             0             0             0             0             0             0
$    37.86    $    31.41    $    27.82    $    27.42    $    32.97    $    36.38    $    37.85
$    33.44    $    27.02    $    23.68    $    20.83    $    27.35    $    31.22    $    33.82
$     1.72    $     1.62    $     1.34    $     1.23    $     1.50    $     1.76    $     1.82
$         0   $         0   $         0   $         0   $         0   $         0   $         0
$    38.51    $    31.94    $    28.29    $    27.89    $    33.53    $    37.00    $    38.49
$    34.01    $    27.48    $    24.08    $    21.18    $    27.82    $    31.75    $    34.40
$     1.72    $     1.62    $     1.34    $     1.23    $     1.50    $     1.76    $     1.82
$         0   $         0   $         0   $         0   $         0   $         0   $         0


    Mar           Apr           May           Jun           Jul           Aug           Sep
          0             0             0             0             0             0             0
          0             0             0             0             0             0             0
          0             0             0             0             0             0             0
$    36.75    $    30.48    $    27.00    $    26.61    $    32.00    $    35.31    $    36.73
$    32.46    $    26.22    $    22.98    $    20.21    $    26.54    $    30.30    $    32.82
$     1.72    $     1.62    $     1.34    $     1.23    $     1.50    $     1.76    $     1.82
$         0   $         0   $         0   $         0   $         0   $         0   $         0
$    37.39    $    31.02    $    27.47    $    27.08    $    32.56    $    35.93    $    37.38
$    33.03    $    26.68    $    23.38    $    20.57    $    27.01    $    30.83    $    33.40
$     1.72    $     1.62    $     1.34    $     1.23    $     1.50    $     1.76    $     1.82
$         0   $         0   $         0   $         0   $         0   $         0   $         0


    Mar           Apr           May           Jun           Jul           Aug           Sep
          0             0             0             0             0             0             0
          0             0             0             0             0             0             0
          0             0             0             0             0             0             0
$    37.97    $    31.50    $    27.90    $    27.50    $    33.07    $    36.49    $    37.96
$    33.54    $    27.10    $    23.75    $    20.89    $    27.43    $    31.31    $    33.92
$     1.72    $     1.62    $     1.34    $     1.23    $     1.50    $     1.76    $     1.82
$         0   $         0   $         0   $         0   $         0   $         0   $         0
$    38.62    $    32.04    $    28.37    $    27.97    $    33.63    $    37.11    $    38.60
$    34.11    $    27.56    $    24.15    $    21.24    $    27.90    $    31.84    $    34.49
$     1.72    $     1.62    $     1.34    $     1.23    $     1.50    $     1.76    $     1.82
$         0   $         0   $         0   $         0   $         0   $         0   $         0


    Mar           Apr           May           Jun           Jul           Aug           Sep
          0             0             0             0             0             0             0
          0             0             0             0             0             0             0
          0             0             0             0             0             0             0
$    34.07    $    28.26    $    25.03    $    24.68    $    29.67    $    32.74    $    34.06
$    30.09    $    24.31    $    21.31    $    18.74    $    24.61    $    28.09    $    30.43
$     1.72    $     1.62    $     1.34    $     1.23    $     1.50    $     1.76    $     1.82
$         0   $         0   $         0   $         0   $         0   $         0   $         0
$    34.72    $    28.80    $    25.50    $    25.14    $    30.23    $    33.36    $    34.70
$    30.66    $    24.77    $    21.71    $    19.09    $    25.08    $    28.62    $    31.01
$     1.72    $     1.62    $     1.34    $     1.23    $     1.50    $     1.76    $     1.82
$         0   $         0   $         0   $         0   $         0   $         0   $         0
     Mar                Apr              May               Jun                Jul              Aug               Sep
              0                 0                 0                 0                 0                 0                 0
              0                 0                 0                 0                 0                 0                 0
              0                 0                 0                 0                 0                 0                 0
$      35.33      $      29.31      $      25.95      $      25.59      $      30.76      $      33.95      $      35.31
$      31.20      $      25.21      $      22.09      $      19.43      $      25.52      $      29.13      $      31.55
$       1.72      $       1.62      $       1.34      $       1.23      $       1.50      $       1.76      $       1.82
$             0   $             0   $             0   $             0   $             0   $             0   $             0
$      35.97      $      29.84      $      26.43      $      26.05      $      31.33      $      34.57      $      35.96
$      31.77      $      25.67      $      22.50      $      19.79      $      25.99      $      29.66      $      32.13
$       1.72      $       1.62      $       1.34      $       1.23      $       1.50      $       1.76      $       1.82
$             0   $             0   $             0   $             0   $             0   $             0   $             0


     Mar                Apr              May               Jun                Jul              Aug               Sep
              0                 0                 0                 0                 0                 0                 0
              0                 0                 0                 0                 0                 0                 0
              0                 0                 0                 0                 0                 0                 0
$      35.64      $      29.56      $      26.18      $      25.81      $      31.04      $      34.25      $      35.62
$      31.48      $      25.43      $      22.29      $      19.60      $      25.75      $      29.39      $      31.83
$       1.72      $       1.62      $       1.34      $       1.23      $       1.50      $       1.76      $       1.82
$             0   $             0   $             0   $             0   $             0   $             0   $             0
$      36.28      $      30.10      $      26.66      $      26.28      $      31.60      $      34.87      $      36.27
$      32.05      $      25.89      $      22.69      $      19.96      $      26.21      $      29.92      $      32.41
$       1.72      $       1.62      $       1.34      $       1.23      $       1.50      $       1.76      $       1.82
$             0   $             0   $             0   $             0   $             0   $             0   $             0




    FY 2009           FY 2010           FY 2011           FY 2012           FY 2013           FY 2014           FY 2015


       32.90             33.93             35.99             35.00             36.09             32.62             33.74
    FY 2016


       0.0                  0.031533
 0.000503
 (0.00037)
       0.0                  0.0281785
5,776,000
3,763,073
       0.0                  0.003354

      12,386
       0.000
      12,386
       1.0000

       0.009

       0.573




              0




$             0   $ 31.79




$             0     32.37
                     0.57

              0
$   0   $ 30.95




$   0     31.52
           0.57

    0




$   0   $ 32.90




$   0     33.47
           0.57

    0




$   0   $ 33.93




$   0     34.50
           0.57

    0




$   0   $ 35.99
$   0     36.56
           0.57

    0




$   0   $ 35.00




$   0     35.57
           0.57

    0




$   0   $ 36.09




$   0     36.66
           0.57

    0




$   0   $ 32.62




$   0     33.19
                     0.57

              0




$             0   $ 33.74




$             0     34.31
                     0.57

              0




$             0   $ 34.02




$             0     34.59
                     0.57


    FY 2016


       34.02
  LEVELIZED MARGINAL COSTS OF POWER
                              OCT      NOV      DEC      JAN      FEB      MAR      APR
  Energy Mills/kwh
                       HLH    53.34    63.03    66.13    59.13    59.27    56.85    47.16
                       LLH    46.08    52.01    54.79    50.01    52.39    50.21    40.56
MONTHLY DEMAND                1.91     2.04     2.14     1.82     1.85     1.72     1.62


  UNBIFURCATED PF             Oct      Nov      Dec      Jan      Feb      Mar      Apr
             2007      HLH     31.10    36.75    38.56    34.48    34.56    33.15    27.50
                        LLH    26.87    30.33    31.95    29.16    30.55    29.28    23.65
                     Demand     1.91     2.04     2.14     1.82     1.85     1.72     1.62
                              Oct      Nov      Dec      Jan      Feb      Mar      Apr
             2008      HLH     30.20    35.68    37.44    33.48    33.55    32.18    26.70
                        LLH    26.08    29.44    31.02    28.31    29.66    28.43    22.96
                     Demand     1.91     2.04     2.14     1.82     1.85     1.72     1.62
                              Oct      Nov      Dec      Jan      Feb      Mar      Apr
             2009      HLH     32.26    38.12    40.00    35.77    35.85    34.39    28.52
                        LLH    27.87    31.46    33.14    30.25    31.69    30.37    24.53
                     Demand     1.91     2.04     2.14     1.82     1.85     1.72     1.62
                              Oct      Nov      Dec      Jan      Feb      Mar      Apr
             2010      HLH     33.35    39.41    41.35    36.98    37.06    35.55    29.49
                        LLH    28.81    32.52    34.26    31.27    32.76    31.40    25.36
                     Demand     1.91     2.04     2.14     1.82     1.85     1.72     1.62
                              Oct      Nov      Dec      Jan      Feb      Mar      Apr
             2011      HLH     35.52    41.98    44.04    39.38    39.47    37.86    31.41
                        LLH    30.69    34.64    36.49    33.31    34.89    33.44    27.02
                     Demand     1.91     2.04     2.14     1.82     1.85     1.72     1.62
                              Oct      Nov      Dec      Jan      Feb      Mar      Apr
             2012      HLH     34.48    40.74    42.74    38.22    38.31    36.75    30.48
                        LLH    29.78    33.62    35.42    32.32    33.86    32.46    26.22
                     Demand     1.91     2.04     2.14     1.82     1.85     1.72     1.62
                              Oct      Nov      Dec      Jan      Feb      Mar      Apr
             2013      HLH     35.63    42.10    44.17    39.50    39.59    37.97    31.50
                        LLH    30.78    34.74    36.60    33.40    35.00    33.54    27.10
                     Demand     1.91     2.04     2.14     1.82     1.85     1.72     1.62
                              Oct      Nov      Dec      Jan      Feb      Mar      Apr
             2014      HLH     31.97    37.77    39.63    35.44    35.52    34.07    28.26
                        LLH    27.61    31.17    32.84    29.97    31.40    30.09    24.31
                     Demand     1.91     2.04     2.14     1.82     1.85     1.72     1.62
                              Oct      Nov      Dec      Jan      Feb      Mar      Apr
             2015      HLH     33.15    39.17    41.09    36.75    36.83    35.33    29.31
                        LLH    28.63    32.32    34.05    31.08    32.56    31.20    25.21
            Demand    1.91    2.04    2.14    1.82    1.85    1.72    1.62
                     Oct     Nov     Dec     Jan     Feb     Mar     Apr
     2016     HLH    33.44   39.51   41.46   37.07   37.15   35.64   29.56
               LLH   28.89   32.60   34.35   31.35   32.84   31.48   25.43
            Demand    1.91    2.04    2.14    1.82    1.85    1.72    1.62




IP                   Oct     Nov     Dec     Jan     Feb     Mar     Apr
     2007     HLH    31.71   37.47   39.31   35.15   35.23   33.79   28.03
               LLH   27.39   30.92   32.57   29.73   31.14   29.85   24.11
            Demand    1.91    2.04    2.14    1.82    1.85    1.72    1.62
                     Oct     Nov     Dec     Jan     Feb     Mar     Apr
     2008     HLH    30.80   36.40   38.19   34.15   34.22   32.83   27.23
               LLH   26.61   30.03   31.64   28.88   30.25   29.00   23.42
            Demand    1.91    2.04    2.14    1.82    1.85    1.72    1.62
                     Oct     Nov     Dec     Jan     Feb     Mar     Apr
     2009     HLH    32.87   38.84   40.75   36.44   36.52   35.03   29.06
               LLH   28.39   32.05   33.76   30.81   32.28   30.94   24.99
            Demand    1.91    2.04    2.14    1.82    1.85    1.72    1.62
                     Oct     Nov     Dec     Jan     Feb     Mar     Apr
     2010     HLH    33.96   40.13   42.10   37.65   37.73   36.19   30.02
               LLH   29.34   33.11   34.89   31.84   33.35   31.97   25.82
            Demand    1.91    2.04    2.14    1.82    1.85    1.72    1.62
                     Oct     Nov     Dec     Jan     Feb     Mar     Apr
     2011     HLH    36.13   42.69   44.79   40.06   40.15   38.51   31.94
               LLH   31.21   35.23   37.12   33.87   35.49   34.01   27.48
            Demand    1.91    2.04    2.14    1.82    1.85    1.72    1.62
                     Oct     Nov     Dec     Jan     Feb     Mar     Apr
     2012     HLH    35.08   41.46   43.49   38.89   38.98   37.39   31.02
               LLH   30.31   34.21   36.04   32.89   34.46   33.03   26.68
            Demand    1.91    2.04    2.14    1.82    1.85    1.72    1.62
                     Oct     Nov     Dec     Jan     Feb     Mar     Apr
     2013     HLH    36.23   42.82   44.92   40.17   40.26   38.62   32.04
               LLH   31.30   35.33   37.22   33.97   35.59   34.11   27.56
            Demand    1.91    2.04    2.14    1.82    1.85    1.72    1.62
                     Oct     Nov     Dec     Jan     Feb     Mar     Apr
     2014     HLH    32.57   38.49   40.38   36.11   36.19   34.72   28.80
               LLH   28.14   31.76   33.46   30.54   31.99   30.66   24.77
            Demand    1.91    2.04    2.14    1.82    1.85    1.72    1.62
                     Oct     Nov     Dec     Jan     Feb     Mar     Apr
     2015     HLH    33.75   39.88   41.84   37.42   37.50   35.97   29.84
                 LLH   29.16     32.91    34.67    31.64    33.15    31.77    25.67
            Demand      1.91      2.04     2.14     1.82     1.85     1.72     1.62
                       Oct      Nov      Dec      Jan      Feb      Mar      Apr
     2016        HLH   34.04     40.23    42.21    37.74    37.83    36.28    30.10
                 LLH   29.41     33.19    34.97    31.92    33.44    32.05    25.89
            Demand      1.91      2.04     2.14     1.82     1.85     1.72     1.62




                               FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012
     UNBIFURCATED PF             33.33    32.45    34.48    35.53    37.66    36.56
            IP                  32.37    31.52    33.47    34.50    36.56    35.57
            NR                   36.20    49.41    59.65    55.35    56.11    81.10


NR                     Oct      Nov      Dec      Jan      Feb      Mar      Apr
     2007        HLH   35.75     42.25    44.33    39.64    39.73    38.11    31.61
                 LLH   30.89     34.86    36.73    33.52    35.12    33.66    27.19
            Demand      1.91      2.04     2.14     1.82     1.85     1.72     1.62
                       Oct      Nov      Dec      Jan      Feb      Mar      Apr
     2008        HLH   49.70     58.73    61.62    55.10    55.22    52.97    43.94
                 LLH   42.93     48.46    51.06    46.59    48.81    46.79    37.80
            Demand      1.91      2.04     2.14     1.82     1.85     1.72     1.62
                       Oct      Nov      Dec      Jan      Feb      Mar      Apr
     2009        HLH   60.52     71.52    75.03    67.10    67.25    64.50    53.51
                 LLH   52.28     59.01    62.17    56.74    59.44    56.97    46.02
            Demand      1.91      2.04     2.14     1.82     1.85     1.72     1.62
                       Oct      Nov      Dec      Jan      Feb      Mar      Apr
     2010        HLH   55.99     66.16    69.41    62.07    62.21    59.67    49.50
                 LLH   48.36     54.59    57.52    52.49    54.99    52.70    42.58
            Demand      1.91      2.04     2.14     1.82     1.85     1.72     1.62
                       Oct      Nov      Dec      Jan      Feb      Mar      Apr
     2011        HLH   56.78     67.10    70.40    62.95    63.09    60.52    50.20
                 LLH   49.05     55.37    58.33    53.24    55.77    53.45    43.18
            Demand      1.91      2.04     2.14     1.82     1.85     1.72     1.62
                       Oct      Nov      Dec      Jan      Feb      Mar      Apr
     2012        HLH   83.18     98.29   103.13    92.22    92.43    88.66    73.55
                 LLH   71.86     81.11    85.45    77.99    81.70    78.31    63.26
            Demand      1.91      2.04     2.14     1.82     1.85     1.72     1.62
                       Oct      Nov      Dec      Jan      Feb      Mar      Apr
     2013        HLH   91.38    107.98   113.29   101.31   101.53    97.39    80.79
                 LLH   78.94     89.10    93.87    85.67    89.75    86.02    69.49
       Demand     1.91    2.04     2.14    1.82     1.85     1.72     1.62
                Oct      Nov     Dec      Jan     Feb      Mar      Apr
2014     HLH     39.33   46.47    48.76   43.60    43.70    41.92    34.77
          LLH    33.97   38.35    40.40   36.87    38.63    37.02    29.91
       Demand     1.91    2.04     2.14    1.82     1.85     1.72     1.62
                Oct      Nov     Dec      Jan     Feb      Mar      Apr
2015     HLH     36.57   43.21    45.33   40.54    40.63    38.97    32.33
          LLH    31.59   35.65    37.56   34.28    35.92    34.42    27.81
       Demand     1.91    2.04     2.14    1.82     1.85     1.72     1.62
                Oct      Nov     Dec      Jan     Feb      Mar      Apr
2016     HLH     45.14   53.34    55.97   50.04    50.16    48.11    39.91
          LLH    39.00   44.01    46.37   42.32    44.34    42.50    34.33
       Demand     1.91    2.04     2.14    1.82     1.85     1.72     1.62



                Oct      Nov     Dec      Jan     Feb      Mar      Apr
         HLH    0.0013 0.00147   0.0015 0.00143   0.0013   0.0014   0.0011
          LLH   0.0009 0.00097   0.0011 0.00096   0.0009   0.0009   0.0008
       Demand   0.0002 0.0002    0.0002 0.00018   0.0002   0.0002   0.0002
MAY      JUN      JUL       AUG      SEP


41.76    41.17    49.51     54.63    56.83
35.55    31.27    41.07     46.87    50.78     Revenues at    Allocated      Percent of
1.34     1.23     1.50      1.76     1.82     Marginal Cost     Costs       Marginal Cost

May      Jun       Jul      Aug      Sep                                         LV
 24.35    24.01    28.87     31.85    33.14   $ 3,270,497     $ 3,238,573   $     13,805
 20.73    18.23    23.95     27.33    29.61   $ 1,753,454                         58.31%
  1.34     1.23      1.50     1.76     1.82   $   295,277
May      Jun       Jul      Aug      Sep                                         LV
 23.64    23.31    28.03     30.93    32.17   $ 3,298,348     $ 3,197,251   $     16,518
 20.13    17.70    23.25     26.54    28.75   $ 1,787,591                         56.61%
  1.34     1.23      1.50     1.76     1.82   $   301,503
May      Jun       Jul      Aug      Sep                                         LV
 25.26    24.90    29.94     33.04    34.37   $ 3,304,187     $ 3,399,875   $     16,924
 21.50    18.91    24.84     28.35    30.71   $ 1,788,680                         60.49%
  1.34     1.23      1.50     1.76     1.82   $   302,499
May      Jun       Jul      Aug      Sep                                         LV
 26.12    25.75    30.96     34.16    35.53   $ 3,341,990     $ 3,544,586   $     17,294
 22.23    19.55    25.68     29.31    31.75   $ 1,807,578                         62.53%
  1.34     1.23      1.50     1.76     1.82   $   307,106
May      Jun       Jul      Aug      Sep                                         LV
 27.82    27.42    32.97     36.38    37.85   $ 3,361,827     $ 3,774,860   $     17,593
 23.68    20.83    27.35     31.22    33.82   $ 1,815,007                         66.60%
  1.34     1.23      1.50     1.76     1.82   $   309,380
May      Jun       Jul      Aug      Sep                                         LV
 27.00    26.61    32.00     35.31    36.73   $ 3,440,631     $ 3,762,376   $     18,585
 22.98    20.21    26.54     30.30    32.82   $ 1,859,228                         64.64%
  1.34     1.23      1.50     1.76     1.82   $   318,056
May      Jun       Jul      Aug      Sep                                         LV
 27.90    27.50    33.07     36.49    37.96   $ 3,456,061     $ 3,893,479   $     18,796
 23.75    20.89    27.43     31.31    33.92   $ 1,864,904                         66.80%
  1.34     1.23      1.50     1.76     1.82   $   320,307
May      Jun       Jul      Aug      Sep                                         LV
 25.03    24.68    29.67     32.74    34.06   $ 3,499,804     $ 3,571,879   $     19,118
 21.31    18.74    24.61     28.09    30.43   $ 1,886,423                         59.93%
  1.34     1.23      1.50     1.76     1.82   $   324,692
May      Jun       Jul      Aug      Sep                                         LV
 25.95    25.59    30.76     33.95    35.31   $ 3,527,489     $ 3,719,547   $     19,445
 22.09    19.43    25.52     29.13    31.55   $ 1,899,964                         62.14%
 1.34    1.23     1.50     1.76    1.82   $   327,277
May     Jun     Jul      Aug      Sep                                     LV
26.18   25.81   31.04     34.25   35.62   $ 3,540,755   $ 3,763,073   $    19,445
22.29   19.60   25.75     29.39   31.83   $ 1,906,713                      62.69%
 1.34    1.23     1.50     1.76    1.82   $   328,531




May     Jun     Jul      Aug      Sep
24.83   24.48   29.43     32.47   33.78   $        0    $        0
21.13   18.59   24.41     27.86   30.18   $        0                      59.45%
 1.34    1.23     1.50     1.76    1.82   $        0
May     Jun     Jul      Aug      Sep
24.12   23.78   28.59     31.55   32.81   $        0    $        0
20.53   18.06   23.71     27.07   29.32   $        0                      57.75%
 1.34    1.23     1.50     1.76    1.82   $        0
May     Jun     Jul      Aug      Sep
25.74   25.37   30.51     33.66   35.02   $        0    $        0
21.91   19.27   25.31     28.88   31.29   $        0                      61.62%
 1.34    1.23     1.50     1.76    1.82   $        0
May     Jun     Jul      Aug      Sep
26.59   26.21   31.52     34.78   36.18   $        0    $        0
22.63   19.91   26.15     29.84   32.33   $        0                      63.67%
 1.34    1.23     1.50     1.76    1.82   $        0
May     Jun     Jul      Aug      Sep
28.29   27.89   33.53     37.00   38.49   $        0    $        0
24.08   21.18   27.82     31.75   34.40   $        0                      67.74%
 1.34    1.23     1.50     1.76    1.82   $        0
May     Jun     Jul      Aug      Sep
27.47   27.08   32.56     35.93   37.38   $        0    $        0
23.38   20.57   27.01     30.83   33.40   $        0                      65.77%
 1.34    1.23     1.50     1.76    1.82   $        0
May     Jun     Jul      Aug      Sep
28.37   27.97   33.63     37.11   38.60   $        0    $        0
24.15   21.24   27.90     31.84   34.49   $        0                      67.93%
 1.34    1.23     1.50     1.76    1.82   $        0
May     Jun     Jul      Aug      Sep
25.50   25.14   30.23     33.36   34.70   $        0    $        0
21.71   19.09   25.08     28.62   31.01   $        0                      61.07%
 1.34    1.23     1.50     1.76    1.82   $        0
May     Jun     Jul      Aug      Sep
26.43   26.05   31.33     34.57   35.96   $        0    $        0
  22.50    19.79    25.99     29.66   32.13   $   0           63.28%
   1.34     1.23     1.50      1.76    1.82   $   0
 May      Jun      Jul       Aug      Sep
  26.66    26.28    31.60     34.87   36.27   $   0   $   0
  22.69    19.96    26.21     29.92   32.41   $   0           63.83%
   1.34     1.23     1.50      1.76    1.82   $   0



FY 2013 FY 2014 FY 2015     FY 2016
  37.70    34.15    35.31     35.59
 36.66    33.19    34.31     34.59
  88.85    39.58    36.98     45.09


 May      Jun      Jul       Aug      Sep
  28.00    27.60    33.19     36.62   38.09   $   0   $   0
  23.83    20.96    27.53     31.42   34.04   $   0           67.03%
   1.34     1.23     1.50      1.76    1.82   $   0
 May      Jun      Jul       Aug      Sep
  38.91    38.37    46.13     50.90   52.95   $   0   $   0
  33.13    29.14    38.26     43.68   47.31   $   0           93.18%
   1.34     1.23     1.50      1.76    1.82   $   0
 May      Jun      Jul       Aug      Sep
  47.39    46.72    56.17     61.98   64.48   $   0   $   0
  40.34    35.48    46.60     53.19   57.61   $   0           113.47%
   1.34     1.23     1.50      1.76    1.82   $   0
 May      Jun      Jul       Aug      Sep
  43.84    43.22    51.96     57.34   59.65   $   0   $   0
  37.32    32.82    43.11     49.20   53.30   $   0           104.96%
   1.34     1.23     1.50      1.76    1.82   $   0
 May      Jun      Jul       Aug      Sep
  44.46    43.83    52.70     58.16   60.50   $   0   $   0
  37.85    33.29    43.72     49.90   54.06   $   0           106.46%
   1.34     1.23     1.50      1.76    1.82   $   0
 May      Jun      Jul       Aug      Sep
  65.13    64.21    77.21     85.19   88.62   $   0   $   0
  55.44    48.76    64.04     73.10   79.19   $   0           155.95%
   1.34     1.23     1.50      1.76    1.82   $   0
 May      Jun      Jul       Aug      Sep
  71.55    70.54    84.81     93.59   97.35   $   0   $   0
  60.91    53.57    70.36     80.31   86.99   $   0           171.32%
  1.34     1.23     1.50     1.76     1.82   $        0
May      Jun      Jul      Aug      Sep
 30.79    30.36   36.50     40.28    41.90   $        0    $         0
 26.21    23.05   30.28     34.56    37.44   $        0                   73.73%
  1.34     1.23     1.50     1.76     1.82   $        0
May      Jun      Jul      Aug      Sep
 28.63    28.23   33.94     37.45    38.96   $        0    $         0
 24.37    21.44   28.15     32.13    34.81   $        0                   68.55%
  1.34     1.23     1.50     1.76     1.82   $        0
May      Jun      Jul      Aug      Sep
 35.35    34.85   41.90     46.23    48.09   $        0    $         0
 30.09    26.46   34.76     39.67    42.97   $        0                   84.63%
  1.34     1.23     1.50     1.76     1.82   $        0


May      Jun      Jul      Aug      Sep
 0.001    0.001 0.00115 0.00138     0.0013   0.027852381       0.000876
0.0007   0.0006 0.00082 0.00085      0.001
0.0001   0.0001 0.00015 0.00018     0.0002
33.33




32.45




34.48




35.53




37.66




36.56




37.70




34.15




35.31
35.59




32.37




31.52




33.47




34.50




36.56




35.57




36.66




33.19




34.31
34.59




36.20




49.41




59.65




55.35




56.11




81.10




88.85
39.58




36.98




45.09




31.79
          Section 7(b)(2) Rate Test Trigger                                   8.20

                                        FY 2007         FY 2008         FY 2009       FY 2010




Total PF Preference Load (GWH)           61841           62756           63123        63973

PF Preference Protection Amount     $     507,095   $     514,601   $     517,612    $ 524,580




Energy Allocation Factors

PF Exchange Rate Pool                   4150.757        4189.806        4167.465     4204.442
IP Rate Pool                              0.000           0.000           0.000        0.000
NR Rate Pool                              0.000           0.000           0.000        0.000
FPS and Secondary Pool                  4603.676        3748.244        2739.358     2649.371

Allocation of PF Preference Protection Amount

PF Exchange 7b2 Costs               $     240,430   $     271,613   $     312,318    $ 321,801
IP 7b2 Costs                        $           0   $           0   $           0    $       0
NR 7b2 Costs                        $           0   $           0   $           0    $       0
FPS and Secondary Costs             $     266,665   $     242,988   $     205,293    $ 202,779
                                    $     507,095   $     514,601   $     517,612    $ 524,580


                                    $ (266,665) $ (242,988) $ (205,293) $ (202,779)

                                                                             8.803
                                                                             8.803
 FY 2011     FY 2012    FY 2013     FY 2014     FY 2015     FY 2016




  64039      66400       66393      67445       67907       67907

$ 525,123 $ 544,482    $ 544,420   $ 553,053   $ 556,837   $ 556,837




4251.874    4276.826    4332.807   4365.303    4398.043    4431.028
  0.000       0.000       0.000      0.000       0.000       0.000
  0.000       0.000       0.000      0.000       0.000       0.000
2706.474    2354.752    2392.837    934.285     920.410     895.145




$ 320,875 $ 351,147    $ 350,727   $ 455,553   $ 460,471   $ 463,252
$       0 $       0    $       0   $       0   $       0   $       0
$       0 $       0    $       0   $       0   $       0   $       0
$ 204,249 $ 193,336    $ 193,693   $ 97,500    $ 96,366    $ 93,585
$ 525,123 $ 544,482    $ 544,420   $ 553,053   $ 556,837   $ 556,837


$ (204,249) $ (193,336) $ (193,693) $ (97,500) $ (96,366) $ (93,585)
   LEVELIZED MARGINAL COSTS OF POWER
                                 OCT            NOV            DEC               JAN            FEB
   Energy Mills/kwh
                        HLH      53.34          63.03          66.13             59.13          59.27
                        LLH      46.08          52.01          54.79             50.01          52.39
MONTHLY DEMAND                   1.91           2.04           2.14              1.82           1.85


   PF Preference                 Oct            Nov            Dec               Jan            Feb
             2007       HLH $ 159,037       $ 205,139      $   236,356       $ 207,806      $   188,157
                         LLH $    88,121    $ 113,892      $   135,715       $ 115,169      $   105,035
                      Demand $    16,159    $    19,058    $    20,810       $    17,606    $    17,749
                        HLH        22.94           27.11          28.44            25.43           25.49
                         LLH       19.82           22.37          23.57            21.51           22.53
                      Demand         1.91           2.04              2.14           1.82              1.85
                                 Oct            Nov            Dec               Jan            Feb
             2008       HLH $ 161,722       $ 207,100      $   231,481       $ 206,031      $   194,004
                         LLH $    84,413    $ 113,172      $   140,719       $ 116,690      $   111,378
                      Demand $    16,599    $    19,649    $    21,423       $    18,067    $    18,254
                        HLH        21.98           25.98          27.25            24.37           24.43
                         LLH       18.99           21.43          22.58            20.61           21.59
                      Demand         1.91           2.04              2.14           1.82              1.85
                                 Oct            Nov            Dec               Jan            Feb
             2009       HLH $ 162,785       $ 204,210      $   245,214       $ 209,019      $   188,840
                         LLH $    86,779    $ 119,628      $   134,157       $ 118,552      $   109,755
                      Demand $    16,911    $    20,048    $    21,742       $    18,403    $    18,620
                        HLH        24.04           28.41          29.80            26.65           26.71
                         LLH       20.77           23.44          24.70            22.54           23.61
                      Demand         1.91           2.04              2.14           1.82              1.85
                                 Oct            Nov            Dec               Jan            Feb
             2010       HLH $ 165,839       $ 206,996      $   252,501       $ 207,744      $   190,439
                         LLH $    88,253    $ 120,953      $   137,846       $ 122,285      $   110,113
                      Demand $    17,301    $    20,384    $    22,456       $    18,638    $    18,813
                        HLH        25.15           29.72          31.18            27.88           27.94
                         LLH       21.72           24.52          25.84            23.58           24.70
                      Demand         1.91           2.04              2.14           1.82              1.85
                                 Oct            Nov            Dec               Jan            Feb
             2011       HLH $ 165,114       $ 212,729      $   254,693       $ 209,941      $   192,356
                         LLH $    90,843    $ 118,781      $   139,118       $ 123,239      $   111,021
                      Demand $    17,572    $    20,601    $    22,746       $    18,887    $    19,064
                        HLH        27.30           32.26          33.84            30.26           30.33
                         LLH       23.58           26.62          28.04            25.59           26.81
                      Demand         1.91           2.04              2.14           1.82              1.85
                          Oct          Nov          Dec              Jan          Feb
        2012     HLH $ 168,802     $ 217,748    $   260,316      $ 215,391    $   205,466
                  LLH $   92,509   $ 120,880    $   141,502      $ 125,626    $   116,790
               Demand $   18,294   $   21,503   $    23,632      $   19,671   $    19,891
                 HLH       26.16        30.92         32.44           29.00         29.07
                  LLH      22.60        25.51         26.88           24.53         25.70
               Demand       1.91         2.04             2.14         1.82             1.85
                          Oct          Nov          Dec              Jan          Feb
        2013     HLH $ 171,733     $ 219,079    $   258,159      $ 220,752    $   199,511
                  LLH $   90,977   $ 121,199    $   144,973      $ 123,928    $   114,809
               Demand $   18,486   $   21,721   $    23,872      $   19,921   $    20,131
                 HLH       27.30        32.26         33.84           30.26         30.33
                  LLH      23.58        26.62         28.04           25.59         26.81
               Demand       1.91         2.04             2.14         1.82             1.85
                          Oct          Nov          Dec              Jan          Feb
        2014     HLH $ 173,737     $ 221,848    $   261,362      $ 223,555    $   201,859
                  LLH $   92,005   $ 122,423    $   146,442      $ 125,289    $   115,997
               Demand $   18,708   $   21,982   $    24,163      $   20,170   $    20,385
                 HLH       23.62        27.91         29.29           26.19         26.25
                  LLH      20.41        23.03         24.27           22.15         23.20
               Demand       1.91         2.04             2.14         1.82             1.85
                          Oct          Nov          Dec              Jan          Feb
        2015     HLH $ 175,700     $ 221,302    $   268,283      $ 226,382    $   204,454
                  LLH $   93,008   $ 126,189    $   144,815      $ 126,658    $   117,348
               Demand $   18,925   $   22,238   $    24,447      $   20,421   $    20,634
                 HLH       24.80        29.30         30.74           27.49         27.55
                  LLH      21.42        24.18         25.47           23.25         24.36
               Demand       1.91         2.04             2.14         1.82             1.85
                          Oct          Nov          Dec              Jan          Feb
        2016     HLH $ 175,700     $ 221,302    $   268,283      $ 226,382    $   204,454
                  LLH $   93,008   $ 126,189    $   144,815      $ 126,658    $   117,348
               Demand $   18,925   $   22,238   $    24,447      $   20,421   $    20,634
                 HLH       25.09        29.65         31.11           27.82         27.88
                  LLH      21.68        24.47         25.78           23.52         24.65
               Demand       1.91         2.04             2.14         1.82             1.85



PF Exchange               Oct          Nov          Dec              Jan          Feb
        2007     HLH $    86,431   $ 116,176    $   156,997      $ 155,072    $   145,809
                  LLH $   45,165   $   55,116   $    73,129      $   86,073   $    81,761
               Demand $   10,289   $   11,629   $    15,475      $   14,927   $    14,659
                 HLH       37.38        44.17         46.34           41.44         41.54
          LLH      32.29        36.45         38.40           35.05         36.72
       Demand       1.91         2.04             2.14         1.82             1.85
                  Oct          Nov          Dec              Jan          Feb
2008     HLH $    86,984   $ 116,728    $   157,519      $ 155,104    $   145,934
          LLH $   45,512   $   55,439   $    73,436      $   86,131   $    81,871
       Demand $   10,341   $   11,678   $    15,519      $   14,927   $    14,670
         HLH       37.35        44.14         46.31           41.41         41.50
          LLH      32.27        36.42         38.37           35.02         36.69
       Demand       1.91         2.04             2.14         1.82             1.85
                  Oct          Nov          Dec              Jan          Feb
2009     HLH $    86,692   $ 116,055    $   155,901      $ 154,091    $   142,298
          LLH $   45,452   $   55,226   $    72,786      $   85,640   $    79,877
       Demand $   10,292   $   11,603   $    15,364      $   14,820   $    13,771
         HLH       40.67        48.06         50.42           45.09         45.19
          LLH      35.13        39.66         41.78           38.13         39.95
       Demand       1.91         2.04             2.14         1.82             1.85
                  Oct          Nov          Dec              Jan          Feb
2010     HLH $    87,890   $ 117,562    $   157,647      $ 154,276    $   145,228
          LLH $   46,141   $   56,016   $    73,675      $   85,781   $    81,582
       Demand $   10,425   $   11,749   $    15,516      $   14,838   $    14,591
         HLH       41.90        49.52         51.95           46.46         46.56
          LLH      36.20        40.86         43.05           39.29         41.16
       Demand       1.91         2.04             2.14         1.82             1.85
                  Oct          Nov          Dec              Jan          Feb
2011     HLH $    86,278   $ 118,125    $   158,021      $ 154,252    $   145,082
          LLH $   45,334   $   56,383   $    73,954      $   85,825   $    81,559
       Demand $   10,230   $   11,796   $    15,542      $   14,825   $    14,600
         HLH       44.03        52.02         54.58           48.81         48.92
          LLH      38.03        42.93         45.23           41.28         43.24
       Demand       1.91         2.04             2.14         1.82             1.85
                  Oct          Nov          Dec              Jan          Feb
2012     HLH $    89,573   $ 118,625    $   156,601      $ 150,671    $   140,934
          LLH $   47,398   $   56,966   $    73,657      $   83,985   $    79,405
       Demand $   10,436   $   11,703   $    15,235      $   14,345   $    14,047
         HLH       43.89        51.87         54.42           48.66         48.77
          LLH      37.92        42.80         45.09           41.15         43.11
       Demand       1.91         2.04             2.14         1.82             1.85
                  Oct          Nov          Dec              Jan          Feb
2013     HLH $    90,318   $ 119,623    $   157,799      $ 152,296    $   140,889
          LLH $   47,830   $   57,491   $    74,268      $   84,926   $    79,401
       Demand $   10,519   $   11,799   $    15,349      $   14,496   $    13,524
         HLH       44.98        53.16         55.77           49.87         49.98
               LLH      38.86         43.86          46.21           42.17          44.18
            Demand       1.91          2.04              2.14         1.82              1.85
                       Oct           Nov           Dec              Jan           Feb
     2014     HLH $    91,596    $ 121,280     $   159,740      $ 152,534     $   142,825
               LLH $   48,554    $   58,346    $    75,245      $   85,085    $    80,532
            Demand $   10,660    $   11,959    $    15,533      $   14,517    $    14,232
              HLH       44.14         52.16          54.72           48.93          49.04
               LLH      38.13         43.04          45.34           41.38          43.35
            Demand       1.91          2.04              2.14         1.82              1.85
                       Oct           Nov           Dec              Jan           Feb
     2015     HLH $    91,281    $ 121,723     $   160,026      $ 153,289     $   143,546
               LLH $   48,423    $   58,618    $    75,442      $   85,545    $    80,981
            Demand $   10,608    $   11,990    $    15,546      $   14,575    $    14,294
              HLH       45.39         53.64          56.28           50.32          50.44
               LLH      39.21         44.26          46.63           42.56          44.58
            Demand       1.91          2.04              2.14         1.82              1.85
                       Oct           Nov           Dec              Jan           Feb
     2016     HLH $    92,217    $ 122,972     $   161,668      $ 154,862     $   145,019
               LLH $   48,920    $   59,220    $    76,216      $   86,423    $    81,812
            Demand $   10,717    $   12,113    $    15,706      $   14,725    $    14,440
              HLH       45.63         53.92          56.57           50.59          50.70
               LLH      39.42         44.49          46.88           42.78          44.82
            Demand       1.91          2.04              2.14         1.82              1.85



IP                     Oct           Nov           Dec              Jan           Feb
     2007     HLH $          0   $         0   $           0    $         0   $           0
               LLH $         0   $         0   $           0    $         0   $           0
            Demand $         0   $         0   $           0    $         0   $           0
              HLH       38.90         45.97          48.23           43.12          43.22
               LLH      33.60         37.93          39.96           36.47          38.21
            Demand       1.91          2.04              2.14         1.82              1.85
                       Oct           Nov           Dec              Jan           Feb
     2008     HLH $          0   $         0   $           0    $         0   $           0
               LLH $         0   $         0   $           0    $         0   $           0
            Demand $         0   $         0   $           0    $         0   $           0
              HLH       38.82         45.88          48.13           43.04          43.14
               LLH      33.54         37.85          39.88           36.40          38.13
            Demand       1.91          2.04              2.14         1.82              1.85
                       Oct           Nov           Dec              Jan           Feb
     2009     HLH $          0   $         0   $           0    $         0   $           0
               LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       42.17         49.83          52.28           46.75          46.86
          LLH      36.43         41.12          43.32           39.53          41.42
       Demand       1.91          2.04              2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2010     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       43.46         51.35          53.88           48.18          48.29
          LLH      37.54         42.38          44.65           40.74          42.69
       Demand       1.91          2.04              2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2011     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       45.50         53.76          56.41           50.44          50.55
          LLH      39.30         44.36          46.74           42.65          44.69
       Demand       1.91          2.04              2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2012     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       45.24         53.46          56.09           50.16          50.27
          LLH      39.08         44.11          46.48           42.42          44.44
       Demand       1.91          2.04              2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2013     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       46.28         54.69          57.38           51.31          51.43
          LLH      39.98         45.13          47.55           43.39          45.46
       Demand       1.91          2.04              2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2014     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       45.53         53.80          56.44           50.47          50.59
          LLH      39.33         44.39          46.77           42.68          44.72
       Demand       1.91          2.04              2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2015     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
                        Demand $         0   $             0   $             0   $          0    $             0
                           HLH      46.75            55.24             57.96             51.82           51.94
                           LLH      40.38            45.58             48.02             43.83           45.91
                        Demand       1.91             2.04                2.14            1.82              1.85
                                   Oct            Nov               Dec               Jan             Feb
           2016            HLH $         0   $             0   $             0   $          0    $             0
                           LLH $         0   $             0   $             0   $          0    $             0
                        Demand $         0   $             0   $             0   $          0    $             0
                           HLH      46.98            55.52             58.25             52.09           52.20
                           LLH      40.59            45.81             48.26             44.05           46.15
                        Demand       1.91             2.04                2.14            1.82              1.85

                                 FY 2007         FY 2008           FY 2009           FY 2010         FY 2011
PF Preference                       25.13           24.25             26.28             27.33            29.46
PF Exchange       undelivered       40.13           40.05             43.28             44.52            46.52
                  transmission       4.26            4.26              4.26              4.26             4.26
PF Exchange       delivered         44.39           44.31             47.54             48.78            50.78

      IP                           39.17           39.11              42.28            43.50            45.43
     NR                            43.00           57.00              68.45            64.34            64.98

     NR                            Oct            Nov               Dec               Jan             Feb
           2007            HLH $         0   $             0   $             0   $          0    $             0
                           LLH $         0   $             0   $             0   $          0    $             0
                        Demand $         0   $             0   $             0   $          0    $             0
                           HLH      42.95            50.75             53.24             47.61           47.72
                           LLH      37.10            41.87             44.12             40.26           42.18
                        Demand       1.91             2.04                2.14            1.82              1.85
                                   Oct            Nov               Dec               Jan             Feb
           2008            HLH $         0   $             0   $             0   $          0    $             0
                           LLH $         0   $             0   $             0   $          0    $             0
                        Demand $         0   $             0   $             0   $          0    $             0
                           HLH      57.72            68.21             71.56             63.99           64.14
                           LLH      49.86            56.28             59.30             54.12           56.69
                        Demand       1.91             2.04                2.14            1.82              1.85
                                   Oct            Nov               Dec               Jan             Feb
           2009            HLH $         0   $             0   $             0   $          0    $             0
                           LLH $         0   $             0   $             0   $          0    $             0
                        Demand $         0   $             0   $             0   $          0    $             0
                           HLH      69.82            82.51             86.56             77.41           77.58
                           LLH      60.32            68.08             71.73             65.46           68.58
                        Demand       1.91             2.04                2.14            1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2010     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       65.49          77.38         81.19           72.60          72.76
          LLH      56.57          63.85         67.28           61.40          64.32
       Demand       1.91           2.04             2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2011     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       66.15          78.17         82.01           73.34          73.50
          LLH      57.14          64.50         67.96           62.02          64.97
       Demand       1.91           2.04             2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2012     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       93.34         110.30        115.72          103.48         103.72
          LLH      80.64          91.01         95.89           87.51          91.68
       Demand       1.91           2.04             2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2013     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH      101.42         119.85        125.75          112.44         112.70
          LLH      87.62          98.90        104.20           95.09          99.62
       Demand       1.91           2.04             2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2014     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       52.28          61.78         64.82           57.96          58.09
          LLH      45.16          50.98         53.71           49.01          51.35
       Demand       1.91           2.04             2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2015     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       49.56          58.56         61.44           54.94          55.07
          LLH      42.81          48.32         50.91           46.46          48.68
       Demand       1.91           2.04             2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2016     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       58.08         68.63          72.01           64.39          64.53
          LLH      50.17         56.63          59.67           54.45          57.05
       Demand       1.91          2.04              2.14         1.82              1.85
    MAR               APR               MAY            JUN            JUL               AUG            SEP


    56.85             47.16             41.76          41.17          49.51             54.63          56.83
    50.21             40.56             35.55          31.27          41.07             46.87          50.78
    1.72              1.62              1.34           1.23           1.50              1.76           1.82


    Mar               Apr               May            Jun             Jul              Aug            Sep
$   189,231       $   136,022       $ 121,777      $ 123,346      $   149,146       $   168,723    $   152,343
$   103,517       $    74,598       $    69,537    $    59,010    $    83,296       $    87,731    $    96,649
$    15,283       $    12,847       $     9,913    $     9,343    $    11,779       $    13,284    $    13,182
       24.45             20.28             17.96          17.71          21.29             23.49          24.44
       21.59             17.44             15.29          13.45          17.66             20.16          21.84
           1.72              1.62           1.34           1.23              1.50           1.76              1.82
    Mar               Apr               May            Jun             Jul              Aug            Sep
$   185,294       $   137,021       $ 122,671      $ 127,894      $   152,307       $   168,230    $   158,047
$   107,758       $    75,526       $    70,583    $    63,138    $    85,640       $    93,229    $    97,073
$    15,726       $    13,116       $    10,334    $     9,946    $    11,961       $    13,501    $    13,490
       23.43             19.44             17.21          16.97          20.40             22.51          23.42
       20.69             16.72             14.65          12.89          16.92             19.32          20.93
           1.72              1.62           1.34           1.23              1.50           1.76              1.82
    Mar               Apr               May            Jun             Jul              Aug            Sep
$   188,259       $   139,044       $ 119,744      $ 127,279      $   154,178       $   170,125    $   159,711
$   109,185       $    76,523       $    71,050    $    60,574    $    86,889       $    94,044    $    97,899
$    16,005       $    13,357       $    10,279    $     9,780    $    12,175       $    13,701    $    13,681
       25.62             21.25             18.82          18.56          22.31             24.62          25.61
       22.63             18.28             16.02          14.09          18.51             21.13          22.89
           1.72              1.62           1.34           1.23              1.50           1.76              1.82
    Mar               Apr               May            Jun             Jul              Aug            Sep
$   192,172       $   139,390       $ 123,587      $ 132,772      $   161,552       $   166,310    $   156,050
$   106,976       $    76,913       $    73,183    $    63,112    $    90,949       $    91,790    $    95,494
$    16,146       $    13,462       $    10,648    $    10,241    $    12,807       $    13,433    $    13,417
       26.80             22.24             19.69          19.41          23.34             25.76          26.79
       23.67             19.12             16.76          14.74          19.36             22.10          23.94
           1.72              1.62           1.34           1.23              1.50           1.76              1.82
    Mar               Apr               May            Jun             Jul              Aug            Sep
$   193,997       $   137,278       $ 120,564      $ 129,749      $   160,435       $   169,682    $   157,099
$   107,766       $    75,610       $    71,222    $    61,581    $    92,875       $    90,427    $    96,292
$    16,357       $    13,308       $    10,423    $    10,042    $    12,938       $    13,558    $    13,571
       29.10             24.14             21.37          21.07          25.34             27.96          29.08
       25.70             20.76             18.20          16.00          21.02             23.99          25.99
           1.72              1.62           1.34           1.23              1.50           1.76              1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   197,790      $   141,793      $ 129,415    $ 141,308    $   166,620      $   174,579   $   158,835
$   109,613      $    80,553      $   73,764   $   67,888   $    95,936      $    92,713   $   100,372
$    17,009      $    14,217      $   11,613   $   10,753   $    13,657      $    14,312   $    14,162
      27.88            23.13           20.49        20.20         24.28            26.80         27.87
      24.63            19.90           17.44        15.34         20.14            22.99         24.91
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   196,838      $   144,988      $ 127,641    $ 136,993    $   169,220      $   176,122   $   160,235
$   112,729      $    79,505      $   72,614   $   67,355   $    94,817      $    93,327   $   101,011
$    17,217      $    14,393      $   11,487   $   10,558   $    13,770      $    14,475   $    14,328
      29.10            24.14           21.37        21.07         25.34            27.96         29.08
      25.70            20.76           18.20        16.00         21.02            23.99         25.99
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   199,224      $   146,770      $ 132,003    $ 142,558    $   171,506      $   176,521   $   164,557
$   113,889      $    80,383      $   75,006   $   70,013   $    96,115      $    95,894   $   100,040
$    17,424      $    14,564      $   11,869   $   10,986   $    13,956      $    14,637   $    14,490
      25.18            20.89           18.50        18.23         21.92            24.19         25.17
      22.24            17.96           15.74        13.85         18.19            20.76         22.49
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   201,609      $   148,548      $ 129,838    $ 141,244    $   172,000      $   178,653   $   166,529
$   115,040      $    81,256      $   75,797   $   67,626   $    96,412      $    96,889   $   101,106
$    17,629      $    14,736      $   11,798   $   10,783   $    13,990      $    14,797   $    14,652
      26.43            21.92           19.42        19.14         23.01            25.40         26.42
      23.34            18.86           16.53        14.54         19.09            21.79         23.61
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   201,609      $   148,548      $ 129,838    $ 141,244    $   172,000      $   178,653   $   166,529
$   115,040      $    81,256      $   75,797   $   67,626   $    96,412      $    96,889   $   101,106
$    17,629      $    14,736      $   11,798   $   10,783   $    13,990      $    14,797   $    14,652
      26.74            22.19           19.65        19.37         23.29            25.70         26.73
      23.62            19.08           16.72        14.71         19.32            22.05         23.89
          1.72             1.62         1.34         1.23             1.50          1.76             1.82



    Mar              Apr              May          Jun          Jul              Aug           Sep
$   130,720      $    97,935      $   57,484   $   47,173   $    55,128      $    80,984   $   103,506
$    69,725      $    48,157      $   30,673   $   19,476   $    25,801      $    34,731   $    51,377
$     9,947      $     9,110      $    5,168   $    4,003   $     5,569      $     7,722   $     9,767
      39.84            33.05           29.27        28.86         34.70            38.29         39.83
      35.19            28.43           24.92        21.91         28.78            32.85         35.59
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   130,885      $    99,533      $   58,878   $   48,877   $   57,309       $   83,293    $   105,503
$    69,857      $    49,014      $   31,472   $   20,261   $   26,933       $   35,866    $    52,477
$     9,959      $     9,257      $    5,289   $    4,143   $    5,771       $    7,933    $     9,950
      39.81            33.02           29.25        28.83         34.67            38.25         39.79
      35.16            28.40           24.89        21.90         28.76            32.82         35.56
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   130,861      $   101,105      $   56,583   $   48,677   $   57,218       $   82,418    $   103,880
$    69,938      $    49,912      $   30,256   $   20,236   $   26,973       $   35,595    $    51,752
$     9,957      $     9,398      $    5,083   $    4,123   $    5,750       $    7,843    $     9,793
      43.35            35.96           31.85        31.40         37.75            41.65         43.33
      38.29            30.93           27.11        23.84         31.31            35.74         38.72
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   131,174      $   101,426      $   56,810   $   48,952   $   57,839       $   83,487    $   104,348
$    70,141      $    50,111      $   30,399   $   20,376   $   27,313       $   36,139    $    52,038
$     9,981      $     9,428      $    5,103   $    4,145   $    5,807       $    7,941    $     9,836
      44.66            37.05           32.81        32.35         38.89            42.92         44.64
      39.45            31.87           27.93        24.57         32.26            36.83         39.89
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   130,408      $    99,122      $   60,743   $   51,354   $   60,447       $   86,872    $   107,487
$    69,791      $    48,999      $   32,621   $   21,492   $   28,684       $   37,822    $    53,769
$     9,922      $     9,214      $    5,441   $    4,340   $    6,041       $    8,245    $    10,118
      46.92            38.93           34.47        33.99         40.86            45.09         46.91
      41.45            33.48           29.34        25.81         33.90            38.69         41.91
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   128,286      $    97,038      $   63,799   $   56,304   $   66,611       $   89,504    $   104,620
$    68,898      $    48,196      $   34,486   $   23,917   $   32,054       $   39,482    $    52,640
$     9,704      $     8,954      $    5,638   $    4,685   $    6,488       $    8,362    $     9,747
      46.78            38.81           34.37        33.88         40.74            44.95         46.76
      41.32            33.38           29.26        25.73         33.79            38.57         41.79
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   129,720      $    98,186      $   64,777   $   57,256   $   67,684       $   90,606    $   105,638
$    69,706      $    48,806      $   35,041   $   24,354   $   32,613       $   40,028    $    53,199
$     9,812      $     9,072      $    5,723   $    4,763   $    6,587       $    8,463    $     9,840
      47.94            39.77           35.22        34.72         41.75            46.07         47.92
      42.35            34.21           29.98         26.37          34.63            39.53         42.82
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$   130,001      $    98,431      $   65,131    $   57,687    $   68,158       $   91,022    $   105,897
$    69,888      $    48,957      $   35,253    $   24,563    $   32,876       $   40,260    $    53,370
$     9,834      $     9,081      $    5,753    $    4,798    $    6,630       $    8,500    $     9,863
      47.04            39.03           34.56         34.07          40.97            45.21         47.02
      41.55            33.57           29.42         25.88          33.98            38.79         42.02
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$   130,744      $   101,257      $   64,691    $   58,782    $   69,351       $   91,734    $   106,520
$    70,339      $    50,446      $   35,034    $   25,080    $   33,512       $   40,652    $    53,749
$     9,887      $     9,337      $    5,709    $    4,898    $    6,729       $    8,654    $    10,000
      48.38            40.13           35.54         35.04          42.13            46.49         48.36
      42.73            34.52           30.26         26.61          34.95            39.89         43.21
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$   132,086      $   102,296      $   65,354    $   59,386    $   70,063       $   92,675    $   107,613
$    71,060      $    50,964      $   35,394    $   25,338    $   33,856       $   41,069    $    54,300
$     9,989      $     9,433      $    5,768    $    4,949    $    6,799       $    8,743    $    10,103
      48.63            40.34           35.73         35.22          42.35            46.73         48.61
      42.96            34.70           30.41         26.75          35.13            40.10         43.44
          1.72             1.62         1.34          1.23              1.50          1.76             1.82



    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      41.46            34.39           30.46         30.03          36.10            39.84         41.44
      36.62            29.58           25.93         22.80          29.95            34.18         37.03
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      41.38            34.33           30.40         29.97          36.03            39.76         41.36
      36.55            29.52           25.88         22.76          29.89            34.12         36.96
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      44.94            37.28           33.02         32.55          39.14            43.19         44.93
      39.70            32.07           28.11         24.72          32.47            37.06         40.14
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      46.32            38.42           34.03         33.55          40.34            44.51         46.30
      40.91            33.05           28.97         25.48          33.46            38.19         41.37
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      48.49            40.23           35.62         35.12          42.23            46.60         48.47
      42.83            34.60           30.32         26.67          35.03            39.98         43.31
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      48.22            40.00           35.43         34.93          41.99            46.34         48.20
      42.59            34.41           30.16         26.52          34.83            39.76         43.07
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      49.33            40.92           36.24         35.73          42.96            47.40         49.31
      43.57            35.20           30.85         27.13          35.63            40.67         44.06
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      48.52            40.25           35.65         35.14          42.25            46.63         48.50
      42.86            34.62           30.34         26.69          35.05            40.01         43.34
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$             0   $             0    $             0   $             0   $             0    $         0   $           0
        49.82             41.33              36.60             36.09             43.39            47.88         49.80
        44.01             35.55              31.16             27.40             35.99            41.08         44.50
           1.72               1.62            1.34              1.23                 1.50          1.76             1.82
     Mar                Apr               May               Jun                Jul              Aug           Sep
$             0   $             0    $             0   $             0   $             0    $         0   $           0
$             0   $             0    $             0   $             0   $             0    $         0   $           0
$             0   $             0    $             0   $             0   $             0    $         0   $           0
        50.07             41.54              36.79             36.27             43.61            48.12         50.05
        44.23             35.73              31.31             27.54             36.17            41.29         44.73
           1.72               1.62            1.34              1.23                 1.50          1.76             1.82

    FY 2012           FY 2013            FY 2014           FY 2015           FY 2016
        28.36             29.50             25.95             27.11              27.39
        46.18             47.21             46.40             47.61              47.84
         4.26              4.26              4.26              4.26               4.26
        50.44             51.47             50.66             51.87              52.10

       45.19             46.17             45.45             46.61              46.84
       90.72             98.36             51.84             49.27              57.34

     Mar                Apr               May               Jun                Jul              Aug           Sep
$             0   $             0    $             0   $             0   $             0    $         0   $           0
$             0   $             0    $             0   $             0   $             0    $         0   $           0
$             0   $             0    $             0   $             0   $             0    $         0   $           0
        45.77             37.97              33.63             33.15             39.86            43.98         45.75
        40.43             32.66              28.62             25.18             33.07            37.74         40.88
           1.72               1.62            1.34              1.23                 1.50          1.76             1.82
     Mar                Apr               May               Jun                Jul              Aug           Sep
$             0   $             0    $             0   $             0   $             0    $         0   $           0
$             0   $             0    $             0   $             0   $             0    $         0   $           0
$             0   $             0    $             0   $             0   $             0    $         0   $           0
        61.52             51.04              45.20             44.56             53.57            59.12         61.50
        54.34             43.90              38.47             33.84             44.44            50.73         54.95
           1.72               1.62            1.34              1.23                 1.50          1.76             1.82
     Mar                Apr               May               Jun                Jul              Aug           Sep
$             0   $             0    $             0   $             0   $             0    $         0   $           0
$             0   $             0    $             0   $             0   $             0    $         0   $           0
$             0   $             0    $             0   $             0   $             0    $         0   $           0
        74.42             61.73              54.67             53.90             64.81            71.51         74.39
        65.73             53.10              46.54             40.93             53.76            61.36         66.47
           1.72               1.62            1.34              1.23                 1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      69.80            57.90           51.28         50.55          60.78            67.07         69.77
      61.65            49.80           43.65         38.39          50.42            57.55         62.34
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      70.50            58.49           51.79         51.06          61.40            67.75         70.47
      62.27            50.31           44.09         38.78          50.93            58.13         62.97
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      99.49            82.53           73.09         72.06          86.64            95.60         99.45
      87.87            70.98           62.22         54.72          71.87            82.03         88.86
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
     108.10            89.68           79.42         78.30          94.14           103.88        108.06
      95.48            77.13           67.60         59.46          78.09            89.13         96.56
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      55.72            46.22           40.94         40.36          48.52            53.55         55.70
      49.22            39.76           34.85         30.65          40.25            45.94         49.77
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      52.82            43.82           38.81         38.26          46.00            50.76         52.80
      46.66            37.69           33.03         29.05          38.16            43.55         47.18
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      61.90            51.35           45.48         44.83          53.91            59.48         61.88
      54.67            44.17           38.71         34.05          44.72            51.04         55.29
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
                                LV
$   2,037,084 $ 1,553,865   $        13,805   25.13
$   1,132,270                        43.01%
$     177,012




                                LV
$   2,051,801 $ 1,521,981   $        16,518   24.25
$   1,159,320                        41.21%
$     182,066




                                LV
$   2,068,407 $ 1,658,957   $        16,924   26.28
$   1,165,036                        45.07%
$     184,702




                                LV
$   2,095,352 $ 1,748,335   $        17,294   27.33
$   1,177,866                        47.15%
$     187,745




                                LV
$   2,103,637 $ 1,886,596   $        17,593   29.46
$   1,178,775                        51.18%
$     189,066
                                LV
$   2,178,065 $ 1,883,138   $        18,585   28.36
$   1,218,145                        49.05%
$     198,713




                                LV
$   2,181,270 $ 1,958,525   $        18,796   29.50
$   1,217,243                        51.18%
$     200,360




                                LV
$   2,215,502 $ 1,749,916   $        19,118   25.95
$   1,233,495                        44.29%
$     203,333




                                LV
$   2,234,543 $ 1,840,785   $        19,445   27.11
$   1,242,143                        46.49%
$     205,049




                                LV
$   2,234,543 $ 1,860,028   $        19,445   27.39
$   1,242,143                        47.04%
$     205,049




$   1,233,414 $ 1,418,042                     40.13
$     621,184                        70.08%
$     118,265
$   1,246,548 $ 1,432,282            40.05
$     628,271               70.03%
$     119,437




$   1,235,780 $ 1,535,625            43.28
$     623,644               76.25%
$     117,797




$   1,246,639 $ 1,593,472            44.52
$     629,713               78.56%
$     119,361




$   1,258,190 $ 1,684,015            46.52
$     636,233               82.54%
$     120,314




$   1,262,567 $ 1,685,902            46.18
$     641,083               82.29%
$     119,343




$   1,274,791 $ 1,741,261            47.21
$     647,661               84.34%
$     119,947
$   1,284,302 $ 1,724,463            46.40
$     652,929               82.75%
$     121,359




$   1,292,946 $ 1,782,396            47.61
$     657,821               85.10%
$     122,228




$   1,306,212 $ 1,809,460            47.84
$     664,571               85.55%
$     123,483




                                       -
$          0   $       0             39.17
$          0                72.93%
$          0




$          0   $       0             39.11
$          0                72.79%
$          0




$          0   $       0             42.28
$          0                79.06%
$   0




$   0   $   0            43.50
$   0           81.48%
$   0




$   0   $   0            45.43
$   0           85.30%
$   0




$   0   $   0            45.19
$   0           84.82%
$   0




$   0   $   0            46.17
$   0           86.77%
$   0




$   0   $   0            45.45
$   0           85.35%
$   0




$   0   $   0            46.61
$   0           87.64%
$   0




$   0   $   0             46.84
$   0           88.08%
$   0




                            -
$   0   $   0             43.00
$   0           80.52%
$   0




$   0   $   0             57.00
$   0           108.22%
$   0




$   0   $   0             68.45
$   0           130.91%
$   0
$   0   $   0             64.34
$   0           122.78%
$   0




$   0   $   0             64.98
$   0           124.02%
$   0




$   0   $   0             90.72
$   0           175.00%
$   0




$   0   $   0             98.36
$   0           190.16%
$   0




$   0   $   0             51.84
$   0           98.02%
$   0




$   0   $   0             49.27
$   0           92.92%
$   0
$   0   $   0             57.34
$   0           108.89%
$   0
                                                                       FY 2007           FY 2008


         1 IP Allocated Costs after 7c2 adjustment                 $ 0.02835         $ 0.02769
         2   IP share of 7b2 adjustment                            $ 0.00596         $ 0.00667
         3 Total IP revenue requirement                            $ 0.03431         $ 0.03436
         4
         5 IP revenues at PF preference rate                       $    0.02109      $    0.02035
         6 IP Revenues @ Net Margin                                $    0.00050      $    0.00050
         7   IP share of 7b2 adjustment                            $    0.00596      $    0.00667
         8                                                         $    0.02755      $    0.02753
        12
        13
        14 DELTA:                                                  $ 0.00677         $ 0.00683




DSI Loads                 Oct             Nov            Dec            Jan               Feb
     2007       HLH        $0.0000        $0.0000        $0.0000         $0.0000           $0.0000
                LLH        $0.0000        $0.0000        $0.0000         $0.0000           $0.0000
             Demand        $0.0001        $0.0001        $0.0001         $0.0001           $0.0001
PF rate revenues           $0.0018        $0.0020        $0.0022         $0.0019           $0.0018
IP rate revenues           $0.0023        $0.0026        $0.0028         $0.0025           $0.0024


                          Oct             Nov            Dec            Jan               Feb
     2008       HLH        $0.0000        $0.0000        $0.0000         $0.0000           $0.0000
                LLH        $0.0000        $0.0000        $0.0000         $0.0000           $0.0000
             Demand        $0.0001        $0.0001        $0.0001         $0.0001           $0.0001
PF rate revenues           $0.0017        $0.0019        $0.0021         $0.0019           $0.0018
IP rate revenues           $0.0023        $0.0026        $0.0028         $0.0025           $0.0024


                          Oct             Nov            Dec            Jan               Feb
     2009       HLH              0              0              0                 0                 0
                LLH              0              0              0                 0                 0
             Demand              0              0              0                 0                 0
PF rate revenues      $         0    $          0    $         0   $             0   $             0
IP rate revenues      $         0    $          0    $         0   $             0   $             0


                          Oct             Nov            Dec            Jan               Feb
     2010      HLH             0             0             0             0             0
               LLH             0             0             0             0             0
            Demand             0             0             0             0             0
PF rate revenues     $         0   $         0   $         0   $         0   $         0
IP rate revenues     $         0   $         0   $         0   $         0   $         0


                         Oct           Nov           Dec           Jan           Feb
     2011      HLH             0             0             0             0             0
               LLH             0             0             0             0             0
            Demand             0             0             0             0             0
PF rate revenues     $         0   $         0   $         0   $         0   $         0
IP rate revenues     $         0   $         0   $         0   $         0   $         0


                         Oct           Nov           Dec           Jan           Feb
     2012      HLH             0             0             0             0             0
               LLH             0             0             0             0             0
            Demand             0             0             0             0             0
PF rate revenues     $         0   $         0   $         0   $         0   $         0
IP rate revenues     $         0   $         0   $         0   $         0   $         0


                         Oct           Nov           Dec           Jan           Feb
     2013      HLH             0             0             0             0             0
               LLH             0             0             0             0             0
            Demand             0             0             0             0             0
PF rate revenues     $         0   $         0   $         0   $         0   $         0
IP rate revenues     $         0   $         0   $         0   $         0   $         0


                         Oct           Nov           Dec           Jan           Feb
     2014      HLH             0             0             0             0             0
               LLH             0             0             0             0             0
            Demand             0             0             0             0             0
PF rate revenues     $         0   $         0   $         0   $         0   $         0
IP rate revenues     $         0   $         0   $         0   $         0   $         0


                         Oct           Nov           Dec           Jan           Feb
     2015      HLH             0             0             0             0             0
               LLH             0             0             0             0             0
            Demand             0             0             0             0             0
PF rate revenues     $         0   $         0   $         0   $         0   $         0
IP rate revenues     $         0   $         0   $         0   $         0   $         0


                         Oct           Nov           Dec           Jan           Feb
     2016      HLH              0              0       0                 0                 0
               LLH              0              0       0                 0                 0
            Demand              0              0       0                 0                 0
PF rate revenues     $          0   $          0   $   0   $             0   $             0
IP rate revenues     $          0   $          0   $   0   $             0   $             0




                                                               FY 2007           FY 2008


                     Flat PF preference rate                      24.07             23.17
    FY 2009           FY 2010           FY 2011           FY 2012           FY 2013           FY 2014           FY 2015


$ 0.02932 $ 0.03023                 $ 0.03203         $ 0.03125         $ 0.03212         $ 0.02908         $ 0.03006
$ 0.00771 $ 0.00788                 $ 0.00777         $ 0.00845         $ 0.00833         $ 0.01074         $ 0.01077
$ 0.03704 $ 0.03810                 $ 0.03980         $ 0.03969         $ 0.04045         $ 0.03982         $ 0.04083

$    0.02201      $    0.02292      $    0.02471      $    0.02383      $    0.02471      $    0.02166      $    0.02263
$    0.00050      $    0.00050      $    0.00050      $    0.00050      $    0.00050      $    0.00050      $    0.00050
$    0.00771      $    0.00788      $    0.00777      $    0.00845      $    0.00833      $    0.01074      $    0.01077
$    0.03022      $    0.03130      $    0.03298      $    0.03278      $    0.03354      $    0.03290      $    0.03391


$ 0.00682 $ 0.00680                 $ 0.00682         $ 0.00691         $ 0.00691         $ 0.00692         $ 0.00692




     Mar                Apr              May               Jun                Jul              Aug               Sep
      $0.0000           $0.0000           $0.0000           $0.0000           $0.0000           $0.0000           $0.0000
      $0.0000           $0.0000           $0.0000           $0.0000           $0.0000           $0.0000           $0.0000
      $0.0001           $0.0001           $0.0001           $0.0001           $0.0001           $0.0001           $0.0001
      $0.0019           $0.0015           $0.0014           $0.0013           $0.0016           $0.0018           $0.0019
      $0.0025           $0.0020           $0.0018           $0.0017           $0.0021           $0.0024           $0.0024


     Mar                Apr              May               Jun                Jul              Aug               Sep
      $0.0000           $0.0000           $0.0000           $0.0000           $0.0000           $0.0000           $0.0000
      $0.0000           $0.0000           $0.0000           $0.0000           $0.0000           $0.0000           $0.0000
      $0.0001           $0.0001           $0.0001           $0.0001           $0.0001           $0.0001           $0.0001
      $0.0018           $0.0015           $0.0013           $0.0012           $0.0016           $0.0017           $0.0018
      $0.0025           $0.0020           $0.0018           $0.0016           $0.0021           $0.0024           $0.0024


     Mar                Apr              May               Jun                Jul              Aug               Sep
              0                 0                 0                 0                 0                 0                 0
              0                 0                 0                 0                 0                 0                 0
              0                 0                 0                 0                 0                 0                 0
$             0   $             0   $             0   $             0   $             0   $             0   $             0
$             0   $             0   $             0   $             0   $             0   $             0   $             0


     Mar                Apr              May               Jun                Jul              Aug               Sep
          0             0             0             0             0             0             0
          0             0             0             0             0             0             0
          0             0             0             0             0             0             0
$         0   $         0   $         0   $         0   $         0   $         0   $         0
$         0   $         0   $         0   $         0   $         0   $         0   $         0


    Mar           Apr           May           Jun           Jul           Aug           Sep
          0             0             0             0             0             0             0
          0             0             0             0             0             0             0
          0             0             0             0             0             0             0
$         0   $         0   $         0   $         0   $         0   $         0   $         0
$         0   $         0   $         0   $         0   $         0   $         0   $         0


    Mar           Apr           May           Jun           Jul           Aug           Sep
          0             0             0             0             0             0             0
          0             0             0             0             0             0             0
          0             0             0             0             0             0             0
$         0   $         0   $         0   $         0   $         0   $         0   $         0
$         0   $         0   $         0   $         0   $         0   $         0   $         0


    Mar           Apr           May           Jun           Jul           Aug           Sep
          0             0             0             0             0             0             0
          0             0             0             0             0             0             0
          0             0             0             0             0             0             0
$         0   $         0   $         0   $         0   $         0   $         0   $         0
$         0   $         0   $         0   $         0   $         0   $         0   $         0


    Mar           Apr           May           Jun           Jul           Aug           Sep
          0             0             0             0             0             0             0
          0             0             0             0             0             0             0
          0             0             0             0             0             0             0
$         0   $         0   $         0   $         0   $         0   $         0   $         0
$         0   $         0   $         0   $         0   $         0   $         0   $         0


    Mar           Apr           May           Jun           Jul           Aug           Sep
          0             0             0             0             0             0             0
          0             0             0             0             0             0             0
          0             0             0             0             0             0             0
$         0   $         0   $         0   $         0   $         0   $         0   $         0
$         0   $         0   $         0   $         0   $         0   $         0   $         0


    Mar           Apr           May           Jun           Jul           Aug           Sep
              0                 0                 0                 0                 0                 0                 0
              0                 0                 0                 0                 0                 0                 0
              0                 0                 0                 0                 0                 0                 0
$             0   $             0   $             0   $             0   $             0   $             0   $             0
$             0   $             0   $             0   $             0   $             0   $             0   $             0




    FY 2009           FY 2010           FY 2011           FY 2012           FY 2013           FY 2014           FY 2015


       25.12             26.17             28.20             27.13             28.20             24.72             25.84
    FY 2016


$      0.03038
$      0.01076
$      0.04114

$      0.02294
$      0.00050
$      0.01076
$      0.03420


$      0.00694




       $0.0009


       $0.0211   24.07
       $0.0275   31.45
                  7.38

       $0.0009


       $0.0204   23.17
       $0.0275   31.34
                  8.17

     0.0008760                      7.78


$      0.02201   25.12
$      0.03022   34.50
                  9.38   $   8.80   0.57
    0


$   0   26.17
$   0   35.73
         9.56

    0


$   0   28.20
$   0   37.64
         9.44

    0


$   0   27.13
$   0   37.32
        10.19

    0


$   0   28.20
$   0   38.29
        10.08

    0


$   0   24.72
$   0   37.55
        12.83

    0


$   0   25.84
$   0   38.71
        12.87
              0


$             0   26.11
$             0   38.93
                  12.82


    FY 2016


         26.11
   LEVELIZED MARGINAL COSTS OF POWER
                                 OCT            NOV            DEC               JAN            FEB
   Energy Mills/kwh
                        HLH      53.34          63.03          66.13             59.13          59.27
                        LLH      46.08          52.01          54.79             50.01          52.39
MONTHLY DEMAND                   1.91           2.04           2.14              1.82           1.85


   PF Preference                 Oct            Nov            Dec               Jan            Feb
             2007       HLH $ 159,037       $ 205,139      $   236,356       $ 207,806      $   188,157
                         LLH $    88,121    $ 113,892      $   135,715       $ 115,169      $   105,035
                      Demand $    16,159    $    19,058    $    20,810       $    17,606    $    17,749
                        HLH        22.94           27.11          28.44            25.43           25.49
                         LLH       19.82           22.37          23.57            21.51           22.53
                      Demand         1.91           2.04              2.14           1.82              1.85
                                 Oct            Nov            Dec               Jan            Feb
             2008       HLH $ 161,722       $ 207,100      $   231,481       $ 206,031      $   194,004
                         LLH $    84,413    $ 113,172      $   140,719       $ 116,690      $   111,378
                      Demand $    16,599    $    19,649    $    21,423       $    18,067    $    18,254
                        HLH        21.98           25.98          27.25            24.37           24.43
                         LLH       18.99           21.43          22.58            20.61           21.59
                      Demand         1.91           2.04              2.14           1.82              1.85
                                 Oct            Nov            Dec               Jan            Feb
             2009       HLH $ 162,785       $ 204,210      $   245,214       $ 209,019      $   188,840
                         LLH $    86,779    $ 119,628      $   134,157       $ 118,552      $   109,755
                      Demand $    16,911    $    20,048    $    21,742       $    18,403    $    18,620
                        HLH        24.04           28.41          29.80            26.65           26.71
                         LLH       20.77           23.44          24.70            22.54           23.61
                      Demand         1.91           2.04              2.14           1.82              1.85
                                 Oct            Nov            Dec               Jan            Feb
             2010       HLH $ 165,839       $ 206,996      $   252,501       $ 207,744      $   190,439
                         LLH $    88,253    $ 120,953      $   137,846       $ 122,285      $   110,113
                      Demand $    17,301    $    20,384    $    22,456       $    18,638    $    18,813
                        HLH        25.15           29.72          31.18            27.88           27.94
                         LLH       21.72           24.52          25.84            23.58           24.70
                      Demand         1.91           2.04              2.14           1.82              1.85
                                 Oct            Nov            Dec               Jan            Feb
             2011       HLH $ 165,114       $ 212,729      $   254,693       $ 209,941      $   192,356
                         LLH $    90,843    $ 118,781      $   139,118       $ 123,239      $   111,021
                      Demand $    17,572    $    20,601    $    22,746       $    18,887    $    19,064
                        HLH        27.30           32.26          33.84            30.26           30.33
                         LLH       23.58           26.62          28.04            25.59           26.81
                      Demand         1.91           2.04              2.14           1.82              1.85
                          Oct          Nov          Dec              Jan          Feb
        2012     HLH $ 168,802     $ 217,748    $   260,316      $ 215,391    $   205,466
                  LLH $   92,509   $ 120,880    $   141,502      $ 125,626    $   116,790
               Demand $   18,294   $   21,503   $    23,632      $   19,671   $    19,891
                 HLH       26.16        30.92         32.44           29.00         29.07
                  LLH      22.60        25.51         26.88           24.53         25.70
               Demand       1.91         2.04             2.14         1.82             1.85
                          Oct          Nov          Dec              Jan          Feb
        2013     HLH $ 171,733     $ 219,079    $   258,159      $ 220,752    $   199,511
                  LLH $   90,977   $ 121,199    $   144,973      $ 123,928    $   114,809
               Demand $   18,486   $   21,721   $    23,872      $   19,921   $    20,131
                 HLH       27.30        32.26         33.84           30.26         30.33
                  LLH      23.58        26.62         28.04           25.59         26.81
               Demand       1.91         2.04             2.14         1.82             1.85
                          Oct          Nov          Dec              Jan          Feb
        2014     HLH $ 173,737     $ 221,848    $   261,362      $ 223,555    $   201,859
                  LLH $   92,005   $ 122,423    $   146,442      $ 125,289    $   115,997
               Demand $   18,708   $   21,982   $    24,163      $   20,170   $    20,385
                 HLH       23.62        27.91         29.29           26.19         26.25
                  LLH      20.41        23.03         24.27           22.15         23.20
               Demand       1.91         2.04             2.14         1.82             1.85
                          Oct          Nov          Dec              Jan          Feb
        2015     HLH $ 175,700     $ 221,302    $   268,283      $ 226,382    $   204,454
                  LLH $   93,008   $ 126,189    $   144,815      $ 126,658    $   117,348
               Demand $   18,925   $   22,238   $    24,447      $   20,421   $    20,634
                 HLH       24.80        29.30         30.74           27.49         27.55
                  LLH      21.42        24.18         25.47           23.25         24.36
               Demand       1.91         2.04             2.14         1.82             1.85
                          Oct          Nov          Dec              Jan          Feb
        2016     HLH $ 175,700     $ 221,302    $   268,283      $ 226,382    $   204,454
                  LLH $   93,008   $ 126,189    $   144,815      $ 126,658    $   117,348
               Demand $   18,925   $   22,238   $    24,447      $   20,421   $    20,634
                 HLH       25.09        29.65         31.11           27.82         27.88
                  LLH      21.68        24.47         25.78           23.52         24.65
               Demand       1.91         2.04             2.14         1.82             1.85



PF Exchange               Oct          Nov          Dec              Jan          Feb
        2007     HLH $    86,431   $ 116,176    $   156,997      $ 155,072    $   145,809
                  LLH $   45,165   $   55,116   $    73,129      $   86,073   $    81,761
               Demand $   10,289   $   11,629   $    15,475      $   14,927   $    14,659
                 HLH       37.38        44.17         46.34           41.44         41.54
          LLH      32.29        36.45         38.40           35.05         36.72
       Demand       1.91         2.04             2.14         1.82             1.85
                  Oct          Nov          Dec              Jan          Feb
2008     HLH $    86,984   $ 116,728    $   157,519      $ 155,104    $   145,934
          LLH $   45,512   $   55,439   $    73,436      $   86,131   $    81,871
       Demand $   10,341   $   11,678   $    15,519      $   14,927   $    14,670
         HLH       37.35        44.14         46.31           41.41         41.50
          LLH      32.27        36.42         38.37           35.02         36.69
       Demand       1.91         2.04             2.14         1.82             1.85
                  Oct          Nov          Dec              Jan          Feb
2009     HLH $    86,692   $ 116,055    $   155,901      $ 154,091    $   142,298
          LLH $   45,452   $   55,226   $    72,786      $   85,640   $    79,877
       Demand $   10,292   $   11,603   $    15,364      $   14,820   $    13,771
         HLH       40.67        48.06         50.42           45.09         45.19
          LLH      35.13        39.66         41.78           38.13         39.95
       Demand       1.91         2.04             2.14         1.82             1.85
                  Oct          Nov          Dec              Jan          Feb
2010     HLH $    87,890   $ 117,562    $   157,647      $ 154,276    $   145,228
          LLH $   46,141   $   56,016   $    73,675      $   85,781   $    81,582
       Demand $   10,425   $   11,749   $    15,516      $   14,838   $    14,591
         HLH       41.90        49.52         51.95           46.46         46.56
          LLH      36.20        40.86         43.05           39.29         41.16
       Demand       1.91         2.04             2.14         1.82             1.85
                  Oct          Nov          Dec              Jan          Feb
2011     HLH $    86,278   $ 118,125    $   158,021      $ 154,252    $   145,082
          LLH $   45,334   $   56,383   $    73,954      $   85,825   $    81,559
       Demand $   10,230   $   11,796   $    15,542      $   14,825   $    14,600
         HLH       44.03        52.02         54.58           48.81         48.92
          LLH      38.03        42.93         45.23           41.28         43.24
       Demand       1.91         2.04             2.14         1.82             1.85
                  Oct          Nov          Dec              Jan          Feb
2012     HLH $    89,573   $ 118,625    $   156,601      $ 150,671    $   140,934
          LLH $   47,398   $   56,966   $    73,657      $   83,985   $    79,405
       Demand $   10,436   $   11,703   $    15,235      $   14,345   $    14,047
         HLH       43.89        51.87         54.42           48.66         48.77
          LLH      37.92        42.80         45.09           41.15         43.11
       Demand       1.91         2.04             2.14         1.82             1.85
                  Oct          Nov          Dec              Jan          Feb
2013     HLH $    90,318   $ 119,623    $   157,799      $ 152,296    $   140,889
          LLH $   47,830   $   57,491   $    74,268      $   84,926   $    79,401
       Demand $   10,519   $   11,799   $    15,349      $   14,496   $    13,524
         HLH       44.98        53.16         55.77           49.87         49.98
               LLH      38.86         43.86          46.21           42.17          44.18
            Demand       1.91          2.04              2.14         1.82              1.85
                       Oct           Nov           Dec              Jan           Feb
     2014     HLH $    91,596    $ 121,280     $   159,740      $ 152,534     $   142,825
               LLH $   48,554    $   58,346    $    75,245      $   85,085    $    80,532
            Demand $   10,660    $   11,959    $    15,533      $   14,517    $    14,232
              HLH       44.14         52.16          54.72           48.93          49.04
               LLH      38.13         43.04          45.34           41.38          43.35
            Demand       1.91          2.04              2.14         1.82              1.85
                       Oct           Nov           Dec              Jan           Feb
     2015     HLH $    91,281    $ 121,723     $   160,026      $ 153,289     $   143,546
               LLH $   48,423    $   58,618    $    75,442      $   85,545    $    80,981
            Demand $   10,608    $   11,990    $    15,546      $   14,575    $    14,294
              HLH       45.39         53.64          56.28           50.32          50.44
               LLH      39.21         44.26          46.63           42.56          44.58
            Demand       1.91          2.04              2.14         1.82              1.85
                       Oct           Nov           Dec              Jan           Feb
     2016     HLH $    92,217    $ 122,972     $   161,668      $ 154,862     $   145,019
               LLH $   48,920    $   59,220    $    76,216      $   86,423    $    81,812
            Demand $   10,717    $   12,113    $    15,706      $   14,725    $    14,440
              HLH       45.63         53.92          56.57           50.59          50.70
               LLH      39.42         44.49          46.88           42.78          44.82
            Demand       1.91          2.04              2.14         1.82              1.85



IP                     Oct           Nov           Dec              Jan           Feb
     2007     HLH $          0   $         0   $           0    $         0   $           0
               LLH $         0   $         0   $           0    $         0   $           0
            Demand $         0   $         0   $           0    $         0   $           0
              HLH       30.74         36.32          38.11           34.08          34.15
               LLH      26.55         29.97          31.58           28.82          30.19
            Demand       1.91          2.04              2.14         1.82              1.85
                       Oct           Nov           Dec              Jan           Feb
     2008     HLH $          0   $         0   $           0    $         0   $           0
               LLH $         0   $         0   $           0    $         0   $           0
            Demand $         0   $         0   $           0    $         0   $           0
              HLH       30.61         36.17          37.95           33.94          34.01
               LLH      26.44         29.85          31.45           28.70          30.07
            Demand       1.91          2.04              2.14         1.82              1.85
                       Oct           Nov           Dec              Jan           Feb
     2009     HLH $          0   $         0   $           0    $         0   $           0
               LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       33.95         40.11          42.09           37.63          37.72
          LLH      29.33         33.10          34.87           31.83          33.34
       Demand       1.91          2.04              2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2010     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       35.25         41.66          43.71           39.08          39.17
          LLH      30.46         34.38          36.22           33.05          34.63
       Demand       1.91          2.04              2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2011     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       37.27         44.04          46.21           41.32          41.41
          LLH      32.20         36.34          38.29           34.94          36.61
       Demand       1.91          2.04              2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2012     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       36.93         43.64          45.78           40.94          41.03
          LLH      31.90         36.01          37.94           34.62          36.27
       Demand       1.91          2.04              2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2013     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       37.95         44.85          47.05           42.07          42.17
          LLH      32.78         37.00          38.99           35.58          37.28
       Demand       1.91          2.04              2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2014     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       37.18         43.94          46.10           41.22          41.31
          LLH      32.12         36.25          38.20           34.86          36.52
       Demand       1.91          2.04              2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2015     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
                        Demand $         0   $             0   $             0   $          0    $             0
                           HLH      38.40            45.37             47.60             42.57           42.66
                           LLH      33.17            37.44             39.45             36.00           37.71
                        Demand       1.91             2.04                2.14            1.82              1.85
                                   Oct            Nov               Dec               Jan             Feb
           2016            HLH $         0   $             0   $             0   $          0    $             0
                           LLH $         0   $             0   $             0   $          0    $             0
                        Demand $         0   $             0   $             0   $          0    $             0
                           HLH      38.63            45.65             47.90             42.83           42.93
                           LLH      33.38            37.67             39.69             36.22           37.95
                        Demand       1.91             2.04                2.14            1.82              1.85

                                 FY 2007         FY 2008           FY 2009           FY 2010         FY 2011
PF Preference                       25.13           24.25             26.28             27.33            29.46
PF Exchange       undelivered       40.13           40.05             43.28             44.52            46.52
                  transmission       4.26            4.26              4.26              4.26             4.26
PF Exchange       delivered         44.39           44.31             47.54             48.78            50.78

      IP                           31.45           31.34              34.50            35.73            37.64
     NR                            43.00           57.00              68.45            64.34            64.98

     NR                            Oct            Nov               Dec               Jan             Feb
           2007            HLH $         0   $             0   $             0   $          0    $             0
                           LLH $         0   $             0   $             0   $          0    $             0
                        Demand $         0   $             0   $             0   $          0    $             0
                           HLH      42.95            50.75             53.24             47.61           47.72
                           LLH      37.10            41.87             44.12             40.26           42.18
                        Demand       1.91             2.04                2.14            1.82              1.85
                                   Oct            Nov               Dec               Jan             Feb
           2008            HLH $         0   $             0   $             0   $          0    $             0
                           LLH $         0   $             0   $             0   $          0    $             0
                        Demand $         0   $             0   $             0   $          0    $             0
                           HLH      57.72            68.21             71.56             63.99           64.14
                           LLH      49.86            56.28             59.30             54.12           56.69
                        Demand       1.91             2.04                2.14            1.82              1.85
                                   Oct            Nov               Dec               Jan             Feb
           2009            HLH $         0   $             0   $             0   $          0    $             0
                           LLH $         0   $             0   $             0   $          0    $             0
                        Demand $         0   $             0   $             0   $          0    $             0
                           HLH      69.82            82.51             86.56             77.41           77.58
                           LLH      60.32            68.08             71.73             65.46           68.58
                        Demand       1.91             2.04                2.14            1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2010     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       65.49          77.38         81.19           72.60          72.76
          LLH      56.57          63.85         67.28           61.40          64.32
       Demand       1.91           2.04             2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2011     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       66.15          78.17         82.01           73.34          73.50
          LLH      57.14          64.50         67.96           62.02          64.97
       Demand       1.91           2.04             2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2012     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       93.34         110.30        115.72          103.48         103.72
          LLH      80.64          91.01         95.89           87.51          91.68
       Demand       1.91           2.04             2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2013     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH      101.42         119.85        125.75          112.44         112.70
          LLH      87.62          98.90        104.20           95.09          99.62
       Demand       1.91           2.04             2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2014     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       52.28          61.78         64.82           57.96          58.09
          LLH      45.16          50.98         53.71           49.01          51.35
       Demand       1.91           2.04             2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2015     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       49.56          58.56         61.44           54.94          55.07
          LLH      42.81          48.32         50.91           46.46          48.68
       Demand       1.91           2.04             2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2016     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       58.08         68.63          72.01           64.39          64.53
          LLH      50.17         56.63          59.67           54.45          57.05
       Demand       1.91          2.04              2.14         1.82              1.85
    MAR               APR               MAY            JUN            JUL               AUG            SEP


    56.85             47.16             41.76          41.17          49.51             54.63          56.83
    50.21             40.56             35.55          31.27          41.07             46.87          50.78
    1.72              1.62              1.34           1.23           1.50              1.76           1.82


    Mar               Apr               May            Jun             Jul              Aug            Sep
$   189,231       $   136,022       $ 121,777      $ 123,346      $   149,146       $   168,723    $   152,343
$   103,517       $    74,598       $    69,537    $    59,010    $    83,296       $    87,731    $    96,649
$    15,283       $    12,847       $     9,913    $     9,343    $    11,779       $    13,284    $    13,182
       24.45             20.28             17.96          17.71          21.29             23.49          24.44
       21.59             17.44             15.29          13.45          17.66             20.16          21.84
           1.72              1.62           1.34           1.23              1.50           1.76              1.82
    Mar               Apr               May            Jun             Jul              Aug            Sep
$   185,294       $   137,021       $ 122,671      $ 127,894      $   152,307       $   168,230    $   158,047
$   107,758       $    75,526       $    70,583    $    63,138    $    85,640       $    93,229    $    97,073
$    15,726       $    13,116       $    10,334    $     9,946    $    11,961       $    13,501    $    13,490
       23.43             19.44             17.21          16.97          20.40             22.51          23.42
       20.69             16.72             14.65          12.89          16.92             19.32          20.93
           1.72              1.62           1.34           1.23              1.50           1.76              1.82
    Mar               Apr               May            Jun             Jul              Aug            Sep
$   188,259       $   139,044       $ 119,744      $ 127,279      $   154,178       $   170,125    $   159,711
$   109,185       $    76,523       $    71,050    $    60,574    $    86,889       $    94,044    $    97,899
$    16,005       $    13,357       $    10,279    $     9,780    $    12,175       $    13,701    $    13,681
       25.62             21.25             18.82          18.56          22.31             24.62          25.61
       22.63             18.28             16.02          14.09          18.51             21.13          22.89
           1.72              1.62           1.34           1.23              1.50           1.76              1.82
    Mar               Apr               May            Jun             Jul              Aug            Sep
$   192,172       $   139,390       $ 123,587      $ 132,772      $   161,552       $   166,310    $   156,050
$   106,976       $    76,913       $    73,183    $    63,112    $    90,949       $    91,790    $    95,494
$    16,146       $    13,462       $    10,648    $    10,241    $    12,807       $    13,433    $    13,417
       26.80             22.24             19.69          19.41          23.34             25.76          26.79
       23.67             19.12             16.76          14.74          19.36             22.10          23.94
           1.72              1.62           1.34           1.23              1.50           1.76              1.82
    Mar               Apr               May            Jun             Jul              Aug            Sep
$   193,997       $   137,278       $ 120,564      $ 129,749      $   160,435       $   169,682    $   157,099
$   107,766       $    75,610       $    71,222    $    61,581    $    92,875       $    90,427    $    96,292
$    16,357       $    13,308       $    10,423    $    10,042    $    12,938       $    13,558    $    13,571
       29.10             24.14             21.37          21.07          25.34             27.96          29.08
       25.70             20.76             18.20          16.00          21.02             23.99          25.99
           1.72              1.62           1.34           1.23              1.50           1.76              1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   197,790      $   141,793      $ 129,415    $ 141,308    $   166,620      $   174,579   $   158,835
$   109,613      $    80,553      $   73,764   $   67,888   $    95,936      $    92,713   $   100,372
$    17,009      $    14,217      $   11,613   $   10,753   $    13,657      $    14,312   $    14,162
      27.88            23.13           20.49        20.20         24.28            26.80         27.87
      24.63            19.90           17.44        15.34         20.14            22.99         24.91
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   196,838      $   144,988      $ 127,641    $ 136,993    $   169,220      $   176,122   $   160,235
$   112,729      $    79,505      $   72,614   $   67,355   $    94,817      $    93,327   $   101,011
$    17,217      $    14,393      $   11,487   $   10,558   $    13,770      $    14,475   $    14,328
      29.10            24.14           21.37        21.07         25.34            27.96         29.08
      25.70            20.76           18.20        16.00         21.02            23.99         25.99
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   199,224      $   146,770      $ 132,003    $ 142,558    $   171,506      $   176,521   $   164,557
$   113,889      $    80,383      $   75,006   $   70,013   $    96,115      $    95,894   $   100,040
$    17,424      $    14,564      $   11,869   $   10,986   $    13,956      $    14,637   $    14,490
      25.18            20.89           18.50        18.23         21.92            24.19         25.17
      22.24            17.96           15.74        13.85         18.19            20.76         22.49
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   201,609      $   148,548      $ 129,838    $ 141,244    $   172,000      $   178,653   $   166,529
$   115,040      $    81,256      $   75,797   $   67,626   $    96,412      $    96,889   $   101,106
$    17,629      $    14,736      $   11,798   $   10,783   $    13,990      $    14,797   $    14,652
      26.43            21.92           19.42        19.14         23.01            25.40         26.42
      23.34            18.86           16.53        14.54         19.09            21.79         23.61
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   201,609      $   148,548      $ 129,838    $ 141,244    $   172,000      $   178,653   $   166,529
$   115,040      $    81,256      $   75,797   $   67,626   $    96,412      $    96,889   $   101,106
$    17,629      $    14,736      $   11,798   $   10,783   $    13,990      $    14,797   $    14,652
      26.74            22.19           19.65        19.37         23.29            25.70         26.73
      23.62            19.08           16.72        14.71         19.32            22.05         23.89
          1.72             1.62         1.34         1.23             1.50          1.76             1.82



    Mar              Apr              May          Jun          Jul              Aug           Sep
$   130,720      $    97,935      $   57,484   $   47,173   $    55,128      $    80,984   $   103,506
$    69,725      $    48,157      $   30,673   $   19,476   $    25,801      $    34,731   $    51,377
$     9,947      $     9,110      $    5,168   $    4,003   $     5,569      $     7,722   $     9,767
      39.84            33.05           29.27        28.86         34.70            38.29         39.83
      35.19            28.43           24.92        21.91         28.78            32.85         35.59
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   130,885      $    99,533      $   58,878   $   48,877   $   57,309       $   83,293    $   105,503
$    69,857      $    49,014      $   31,472   $   20,261   $   26,933       $   35,866    $    52,477
$     9,959      $     9,257      $    5,289   $    4,143   $    5,771       $    7,933    $     9,950
      39.81            33.02           29.25        28.83         34.67            38.25         39.79
      35.16            28.40           24.89        21.90         28.76            32.82         35.56
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   130,861      $   101,105      $   56,583   $   48,677   $   57,218       $   82,418    $   103,880
$    69,938      $    49,912      $   30,256   $   20,236   $   26,973       $   35,595    $    51,752
$     9,957      $     9,398      $    5,083   $    4,123   $    5,750       $    7,843    $     9,793
      43.35            35.96           31.85        31.40         37.75            41.65         43.33
      38.29            30.93           27.11        23.84         31.31            35.74         38.72
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   131,174      $   101,426      $   56,810   $   48,952   $   57,839       $   83,487    $   104,348
$    70,141      $    50,111      $   30,399   $   20,376   $   27,313       $   36,139    $    52,038
$     9,981      $     9,428      $    5,103   $    4,145   $    5,807       $    7,941    $     9,836
      44.66            37.05           32.81        32.35         38.89            42.92         44.64
      39.45            31.87           27.93        24.57         32.26            36.83         39.89
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   130,408      $    99,122      $   60,743   $   51,354   $   60,447       $   86,872    $   107,487
$    69,791      $    48,999      $   32,621   $   21,492   $   28,684       $   37,822    $    53,769
$     9,922      $     9,214      $    5,441   $    4,340   $    6,041       $    8,245    $    10,118
      46.92            38.93           34.47        33.99         40.86            45.09         46.91
      41.45            33.48           29.34        25.81         33.90            38.69         41.91
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   128,286      $    97,038      $   63,799   $   56,304   $   66,611       $   89,504    $   104,620
$    68,898      $    48,196      $   34,486   $   23,917   $   32,054       $   39,482    $    52,640
$     9,704      $     8,954      $    5,638   $    4,685   $    6,488       $    8,362    $     9,747
      46.78            38.81           34.37        33.88         40.74            44.95         46.76
      41.32            33.38           29.26        25.73         33.79            38.57         41.79
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   129,720      $    98,186      $   64,777   $   57,256   $   67,684       $   90,606    $   105,638
$    69,706      $    48,806      $   35,041   $   24,354   $   32,613       $   40,028    $    53,199
$     9,812      $     9,072      $    5,723   $    4,763   $    6,587       $    8,463    $     9,840
      47.94            39.77           35.22        34.72         41.75            46.07         47.92
      42.35            34.21           29.98         26.37          34.63            39.53         42.82
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$   130,001      $    98,431      $   65,131    $   57,687    $   68,158       $   91,022    $   105,897
$    69,888      $    48,957      $   35,253    $   24,563    $   32,876       $   40,260    $    53,370
$     9,834      $     9,081      $    5,753    $    4,798    $    6,630       $    8,500    $     9,863
      47.04            39.03           34.56         34.07          40.97            45.21         47.02
      41.55            33.57           29.42         25.88          33.98            38.79         42.02
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$   130,744      $   101,257      $   64,691    $   58,782    $   69,351       $   91,734    $   106,520
$    70,339      $    50,446      $   35,034    $   25,080    $   33,512       $   40,652    $    53,749
$     9,887      $     9,337      $    5,709    $    4,898    $    6,729       $    8,654    $    10,000
      48.38            40.13           35.54         35.04          42.13            46.49         48.36
      42.73            34.52           30.26         26.61          34.95            39.89         43.21
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$   132,086      $   102,296      $   65,354    $   59,386    $   70,063       $   92,675    $   107,613
$    71,060      $    50,964      $   35,394    $   25,338    $   33,856       $   41,069    $    54,300
$     9,989      $     9,433      $    5,768    $    4,949    $    6,799       $    8,743    $    10,103
      48.63            40.34           35.73         35.22          42.35            46.73         48.61
      42.96            34.70           30.41         26.75          35.13            40.10         43.44
          1.72             1.62         1.34          1.23              1.50          1.76             1.82



    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      32.76            27.18           24.07         23.73          28.53            31.48         32.75
      28.93            23.37           20.49         18.02          23.66            27.01         29.26
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      32.63            27.06           23.97         23.63          28.41            31.35         32.61
      28.82            23.28           20.40         17.94          23.57            26.90         29.14
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      36.18            30.01           26.58         26.21          31.51            34.77         36.17
      31.96            25.82           22.63         19.90          26.14            29.83         32.32
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      37.58            31.17           27.60         27.21          32.72            36.11         37.56
      33.19            26.81           23.50         20.67          27.14            30.98         33.56
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      39.72            32.95           29.18         28.77          34.59            38.17         39.71
      35.09            28.34           24.84         21.85          28.70            32.75         35.48
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      39.36            32.65           28.91         28.51          34.28            37.82         39.34
      34.76            28.08           24.61         21.65          28.43            32.45         35.15
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      40.45            33.55           29.72         29.30          35.22            38.87         40.43
      35.73            28.86           25.30         22.25          29.22            33.35         36.13
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      39.63            32.87           29.11         28.70          34.51            38.08         39.61
      35.00            28.28           24.78         21.80          28.63            32.68         35.40
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$             0   $             0    $             0   $             0   $             0    $         0   $           0
        40.92             33.95              30.06             29.64             35.64            39.33         40.91
        36.15             29.20              25.59             22.51             29.56            33.74         36.55
           1.72               1.62            1.34              1.23                 1.50          1.76             1.82
     Mar                Apr               May               Jun                Jul              Aug           Sep
$             0   $             0    $             0   $             0   $             0    $         0   $           0
$             0   $             0    $             0   $             0   $             0    $         0   $           0
$             0   $             0    $             0   $             0   $             0    $         0   $           0
        41.18             34.16              30.25             29.82             35.86            39.57         41.16
        36.37             29.38              25.75             22.65             29.75            33.95         36.78
           1.72               1.62            1.34              1.23                 1.50          1.76             1.82

    FY 2012           FY 2013            FY 2014           FY 2015           FY 2016
        28.36             29.50             25.95             27.11              27.39
        46.18             47.21             46.40             47.61              47.84
         4.26              4.26              4.26              4.26               4.26
        50.44             51.47             50.66             51.87              52.10

       37.32             38.29             37.55             38.71              38.93
       90.72             98.36             51.84             49.27              57.34

     Mar                Apr               May               Jun                Jul              Aug           Sep
$             0   $             0    $             0   $             0   $             0    $         0   $           0
$             0   $             0    $             0   $             0   $             0    $         0   $           0
$             0   $             0    $             0   $             0   $             0    $         0   $           0
        45.77             37.97              33.63             33.15             39.86            43.98         45.75
        40.43             32.66              28.62             25.18             33.07            37.74         40.88
           1.72               1.62            1.34              1.23                 1.50          1.76             1.82
     Mar                Apr               May               Jun                Jul              Aug           Sep
$             0   $             0    $             0   $             0   $             0    $         0   $           0
$             0   $             0    $             0   $             0   $             0    $         0   $           0
$             0   $             0    $             0   $             0   $             0    $         0   $           0
        61.52             51.04              45.20             44.56             53.57            59.12         61.50
        54.34             43.90              38.47             33.84             44.44            50.73         54.95
           1.72               1.62            1.34              1.23                 1.50          1.76             1.82
     Mar                Apr               May               Jun                Jul              Aug           Sep
$             0   $             0    $             0   $             0   $             0    $         0   $           0
$             0   $             0    $             0   $             0   $             0    $         0   $           0
$             0   $             0    $             0   $             0   $             0    $         0   $           0
        74.42             61.73              54.67             53.90             64.81            71.51         74.39
        65.73             53.10              46.54             40.93             53.76            61.36         66.47
           1.72               1.62            1.34              1.23                 1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      69.80            57.90           51.28         50.55          60.78            67.07         69.77
      61.65            49.80           43.65         38.39          50.42            57.55         62.34
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      70.50            58.49           51.79         51.06          61.40            67.75         70.47
      62.27            50.31           44.09         38.78          50.93            58.13         62.97
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      99.49            82.53           73.09         72.06          86.64            95.60         99.45
      87.87            70.98           62.22         54.72          71.87            82.03         88.86
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
     108.10            89.68           79.42         78.30          94.14           103.88        108.06
      95.48            77.13           67.60         59.46          78.09            89.13         96.56
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      55.72            46.22           40.94         40.36          48.52            53.55         55.70
      49.22            39.76           34.85         30.65          40.25            45.94         49.77
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      52.82            43.82           38.81         38.26          46.00            50.76         52.80
      46.66            37.69           33.03         29.05          38.16            43.55         47.18
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      61.90            51.35           45.48         44.83          53.91            59.48         61.88
      54.67            44.17           38.71         34.05          44.72            51.04         55.29
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
                                LV
$   2,037,084 $ 1,553,865   $        13,805   25.13
$   1,132,270                        43.01%
$     177,012




                                LV
$   2,051,801 $ 1,521,981   $        16,518   24.25
$   1,159,320                        41.21%
$     182,066




                                LV
$   2,068,407 $ 1,658,957   $        16,924   26.28
$   1,165,036                        45.07%
$     184,702




                                LV
$   2,095,352 $ 1,748,335   $        17,294   27.33
$   1,177,866                        47.15%
$     187,745




                                LV
$   2,103,637 $ 1,886,596   $        17,593   29.46
$   1,178,775                        51.18%
$     189,066
                                LV
$   2,178,065 $ 1,883,138   $        18,585   28.36
$   1,218,145                        49.05%
$     198,713




                                LV
$   2,181,270 $ 1,958,525   $        18,796   29.50
$   1,217,243                        51.18%
$     200,360




                                LV
$   2,215,502 $ 1,749,916   $        19,118   25.95
$   1,233,495                        44.29%
$     203,333




                                LV
$   2,234,543 $ 1,840,785   $        19,445   27.11
$   1,242,143                        46.49%
$     205,049




                                LV
$   2,234,543 $ 1,860,028   $        19,445   27.39
$   1,242,143                        47.04%
$     205,049




$   1,233,414 $ 1,418,042                     40.13
$     621,184                        70.08%
$     118,265
$   1,246,548 $ 1,432,282            40.05
$     628,271               70.03%
$     119,437




$   1,235,780 $ 1,535,625            43.28
$     623,644               76.25%
$     117,797




$   1,246,639 $ 1,593,472            44.52
$     629,713               78.56%
$     119,361




$   1,258,190 $ 1,684,015            46.52
$     636,233               82.54%
$     120,314




$   1,262,567 $ 1,685,902            46.18
$     641,083               82.29%
$     119,343




$   1,274,791 $ 1,741,261            47.21
$     647,661               84.34%
$     119,947
$   1,284,302 $ 1,724,463            46.40
$     652,929               82.75%
$     121,359




$   1,292,946 $ 1,782,396            47.61
$     657,821               85.10%
$     122,228




$   1,306,212 $ 1,809,460            47.84
$     664,571               85.55%
$     123,483




                                       -
$          0   $       0             31.45
$          0                57.63%
$          0




$          0   $       0             31.34
$          0                57.39%
$          0




$          0   $       0             34.50
$          0                63.64%
$   0




$   0   $   0            35.73
$   0           66.10%
$   0




$   0   $   0            37.64
$   0           69.88%
$   0




$   0   $   0            37.32
$   0           69.23%
$   0




$   0   $   0            38.29
$   0           71.15%
$   0




$   0   $   0            37.55
$   0           69.71%
$   0




$   0   $   0            38.71
$   0           71.99%
$   0




$   0   $   0             38.93
$   0           72.43%
$   0




                            -
$   0   $   0             43.00
$   0           80.52%
$   0




$   0   $   0             57.00
$   0           108.22%
$   0




$   0   $   0             68.45
$   0           130.91%
$   0
$   0   $   0             64.34
$   0           122.78%
$   0




$   0   $   0             64.98
$   0           124.02%
$   0




$   0   $   0             90.72
$   0           175.00%
$   0




$   0   $   0             98.36
$   0           190.16%
$   0




$   0   $   0             51.84
$   0           98.02%
$   0




$   0   $   0             49.27
$   0           92.92%
$   0
$   0   $   0             57.34
$   0           108.89%
$   0
   LEVELIZED MARGINAL COSTS OF POWER
                                     OCT            NOV            DEC               JAN            FEB
   Energy Mills/kwh
                             HLH     53.34          63.03          66.13             59.13          59.27
                             LLH     46.08          52.01          54.79             50.01          52.39
MONTHLY DEMAND                       1.91           2.04           2.14              1.82           1.85


   PF Preference (average)           Oct            Nov            Dec               Jan            Feb
             2007            HLH $ 159,037      $ 205,139      $   236,356       $ 207,806      $   188,157
                             LLH $    88,121    $ 113,892      $   135,715       $ 115,169      $   105,035
                        Demand $      16,159    $    19,058    $    20,810       $    17,606    $    17,749
                             HLH       22.94           27.11          28.44            25.43           25.49
                             LLH       19.82           22.37          23.57            21.51           22.53
                        Demand           1.91           2.04              2.14           1.82              1.85
                                     Oct            Nov            Dec               Jan            Feb
             2008            HLH $ 161,722      $ 207,100      $   231,481       $ 206,031      $   194,004
                             LLH $    84,413    $ 113,172      $   140,719       $ 116,690      $   111,378
                        Demand $      16,599    $    19,649    $    21,423       $    18,067    $    18,254
                             HLH       21.98           25.98          27.25            24.37           24.43
                             LLH       18.99           21.43          22.58            20.61           21.59
                        Demand           1.91           2.04              2.14           1.82              1.85
                                     Oct            Nov            Dec               Jan            Feb
             2009            HLH $ 162,785      $ 204,210      $   245,214       $ 209,019      $   188,840
                             LLH $    86,779    $ 119,628      $   134,157       $ 118,552      $   109,755
                        Demand $      16,911    $    20,048    $    21,742       $    18,403    $    18,620
                             HLH       24.04           28.41          29.80            26.65           26.71
                             LLH       20.77           23.44          24.70            22.54           23.61
                        Demand           1.91           2.04              2.14           1.82              1.85
                                     Oct            Nov            Dec               Jan            Feb
             2010            HLH $ 165,839      $ 206,996      $   252,501       $ 207,744      $   190,439
                             LLH $    88,253    $ 120,953      $   137,846       $ 122,285      $   110,113
                        Demand $      17,301    $    20,384    $    22,456       $    18,638    $    18,813
                             HLH       25.15           29.72          31.18            27.88           27.94
                             LLH       21.72           24.52          25.84            23.58           24.70
                        Demand           1.91           2.04              2.14           1.82              1.85
                                     Oct            Nov            Dec               Jan            Feb
             2011            HLH $ 165,114      $ 212,729      $   254,693       $ 209,941      $   192,356
                             LLH $    90,843    $ 118,781      $   139,118       $ 123,239      $   111,021
                        Demand $      17,572    $    20,601    $    22,746       $    18,887    $    19,064
                             HLH       27.30           32.26          33.84            30.26           30.33
                             LLH       23.58           26.62          28.04            25.59           26.81
                        Demand           1.91           2.04              2.14           1.82              1.85
                          Oct          Nov          Dec              Jan          Feb
        2012     HLH $ 168,802     $ 217,748    $   260,316      $ 215,391    $   205,466
                  LLH $   92,509   $ 120,880    $   141,502      $ 125,626    $   116,790
               Demand $   18,294   $   21,503   $    23,632      $   19,671   $    19,891
                 HLH       26.16        30.92         32.44           29.00         29.07
                  LLH      22.60        25.51         26.88           24.53         25.70
               Demand       1.91         2.04             2.14         1.82             1.85
                          Oct          Nov          Dec              Jan          Feb
        2013     HLH $ 171,733     $ 219,079    $   258,159      $ 220,752    $   199,511
                  LLH $   90,977   $ 121,199    $   144,973      $ 123,928    $   114,809
               Demand $   18,486   $   21,721   $    23,872      $   19,921   $    20,131
                 HLH       27.30        32.26         33.84           30.26         30.33
                  LLH      23.58        26.62         28.04           25.59         26.81
               Demand       1.91         2.04             2.14         1.82             1.85
                          Oct          Nov          Dec              Jan          Feb
        2014     HLH $ 173,737     $ 221,848    $   261,362      $ 223,555    $   201,859
                  LLH $   92,005   $ 122,423    $   146,442      $ 125,289    $   115,997
               Demand $   18,708   $   21,982   $    24,163      $   20,170   $    20,385
                 HLH       23.62        27.91         29.29           26.19         26.25
                  LLH      20.41        23.03         24.27           22.15         23.20
               Demand       1.91         2.04             2.14         1.82             1.85
                          Oct          Nov          Dec              Jan          Feb
        2015     HLH $ 175,700     $ 221,302    $   268,283      $ 226,382    $   204,454
                  LLH $   93,008   $ 126,189    $   144,815      $ 126,658    $   117,348
               Demand $   18,925   $   22,238   $    24,447      $   20,421   $    20,634
                 HLH       24.80        29.30         30.74           27.49         27.55
                  LLH      21.42        24.18         25.47           23.25         24.36
               Demand       1.91         2.04             2.14         1.82             1.85
                          Oct          Nov          Dec              Jan          Feb
        2016     HLH $ 175,700     $ 221,302    $   268,283      $ 226,382    $   204,454
                  LLH $   93,008   $ 126,189    $   144,815      $ 126,658    $   117,348
               Demand $   18,925   $   22,238   $    24,447      $   20,421   $    20,634
                 HLH       25.09        29.65         31.11           27.82         27.88
                  LLH      21.68        24.47         25.78           23.52         24.65
               Demand       1.91         2.04             2.14         1.82             1.85



PF Exchange               Oct          Nov          Dec              Jan          Feb
        2007     HLH $    86,431   $ 116,176    $   156,997      $ 155,072    $   145,809
                  LLH $   45,165   $   55,116   $    73,129      $   86,073   $    81,761
               Demand $   10,289   $   11,629   $    15,475      $   14,927   $    14,659
                 HLH       37.38        44.17         46.34           41.44         41.54
          LLH      32.29        36.45         38.40           35.05         36.72
       Demand       1.91         2.04             2.14         1.82             1.85
                  Oct          Nov          Dec              Jan          Feb
2008     HLH $    86,984   $ 116,728    $   157,519      $ 155,104    $   145,934
          LLH $   45,512   $   55,439   $    73,436      $   86,131   $    81,871
       Demand $   10,341   $   11,678   $    15,519      $   14,927   $    14,670
         HLH       37.35        44.14         46.31           41.41         41.50
          LLH      32.27        36.42         38.37           35.02         36.69
       Demand       1.91         2.04             2.14         1.82             1.85
                  Oct          Nov          Dec              Jan          Feb
2009     HLH $    86,692   $ 116,055    $   155,901      $ 154,091    $   142,298
          LLH $   45,452   $   55,226   $    72,786      $   85,640   $    79,877
       Demand $   10,292   $   11,603   $    15,364      $   14,820   $    13,771
         HLH       40.67        48.06         50.42           45.09         45.19
          LLH      35.13        39.66         41.78           38.13         39.95
       Demand       1.91         2.04             2.14         1.82             1.85
                  Oct          Nov          Dec              Jan          Feb
2010     HLH $    87,890   $ 117,562    $   157,647      $ 154,276    $   145,228
          LLH $   46,141   $   56,016   $    73,675      $   85,781   $    81,582
       Demand $   10,425   $   11,749   $    15,516      $   14,838   $    14,591
         HLH       41.90        49.52         51.95           46.46         46.56
          LLH      36.20        40.86         43.05           39.29         41.16
       Demand       1.91         2.04             2.14         1.82             1.85
                  Oct          Nov          Dec              Jan          Feb
2011     HLH $    86,278   $ 118,125    $   158,021      $ 154,252    $   145,082
          LLH $   45,334   $   56,383   $    73,954      $   85,825   $    81,559
       Demand $   10,230   $   11,796   $    15,542      $   14,825   $    14,600
         HLH       44.03        52.02         54.58           48.81         48.92
          LLH      38.03        42.93         45.23           41.28         43.24
       Demand       1.91         2.04             2.14         1.82             1.85
                  Oct          Nov          Dec              Jan          Feb
2012     HLH $    89,573   $ 118,625    $   156,601      $ 150,671    $   140,934
          LLH $   47,398   $   56,966   $    73,657      $   83,985   $    79,405
       Demand $   10,436   $   11,703   $    15,235      $   14,345   $    14,047
         HLH       43.89        51.87         54.42           48.66         48.77
          LLH      37.92        42.80         45.09           41.15         43.11
       Demand       1.91         2.04             2.14         1.82             1.85
                  Oct          Nov          Dec              Jan          Feb
2013     HLH $    90,318   $ 119,623    $   157,799      $ 152,296    $   140,889
          LLH $   47,830   $   57,491   $    74,268      $   84,926   $    79,401
       Demand $   10,519   $   11,799   $    15,349      $   14,496   $    13,524
         HLH       44.98        53.16         55.77           49.87         49.98
               LLH      38.86         43.86          46.21           42.17          44.18
            Demand       1.91          2.04              2.14         1.82              1.85
                       Oct           Nov           Dec              Jan           Feb
     2014     HLH $    91,596    $ 121,280     $   159,740      $ 152,534     $   142,825
               LLH $   48,554    $   58,346    $    75,245      $   85,085    $    80,532
            Demand $   10,660    $   11,959    $    15,533      $   14,517    $    14,232
              HLH       44.14         52.16          54.72           48.93          49.04
               LLH      38.13         43.04          45.34           41.38          43.35
            Demand       1.91          2.04              2.14         1.82              1.85
                       Oct           Nov           Dec              Jan           Feb
     2015     HLH $    91,281    $ 121,723     $   160,026      $ 153,289     $   143,546
               LLH $   48,423    $   58,618    $    75,442      $   85,545    $    80,981
            Demand $   10,608    $   11,990    $    15,546      $   14,575    $    14,294
              HLH       45.39         53.64          56.28           50.32          50.44
               LLH      39.21         44.26          46.63           42.56          44.58
            Demand       1.91          2.04              2.14         1.82              1.85
                       Oct           Nov           Dec              Jan           Feb
     2016     HLH $    92,217    $ 122,972     $   161,668      $ 154,862     $   145,019
               LLH $   48,920    $   59,220    $    76,216      $   86,423    $    81,812
            Demand $   10,717    $   12,113    $    15,706      $   14,725    $    14,440
              HLH       45.63         53.92          56.57           50.59          50.70
               LLH      39.42         44.49          46.88           42.78          44.82
            Demand       1.91          2.04              2.14         1.82              1.85



IP                     Oct           Nov           Dec              Jan           Feb
     2007     HLH $          0   $         0   $           0    $         0   $           0
               LLH $         0   $         0   $           0    $         0   $           0
            Demand $         0   $         0   $           0    $         0   $           0
              HLH       30.74         36.32          38.11           34.08          34.15
               LLH      26.55         29.97          31.58           28.82          30.19
            Demand       1.91          2.04              2.14         1.82              1.85
                       Oct           Nov           Dec              Jan           Feb
     2008     HLH $          0   $         0   $           0    $         0   $           0
               LLH $         0   $         0   $           0    $         0   $           0
            Demand $         0   $         0   $           0    $         0   $           0
              HLH       30.61         36.17          37.95           33.94          34.01
               LLH      26.44         29.85          31.45           28.70          30.07
            Demand       1.91          2.04              2.14         1.82              1.85
                       Oct           Nov           Dec              Jan           Feb
     2009     HLH $          0   $         0   $           0    $         0   $           0
               LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       33.95         40.11          42.09           37.63          37.72
          LLH      29.33         33.10          34.87           31.83          33.34
       Demand       1.91          2.04              2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2010     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       35.25         41.66          43.71           39.08          39.17
          LLH      30.46         34.38          36.22           33.05          34.63
       Demand       1.91          2.04              2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2011     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       37.27         44.04          46.21           41.32          41.41
          LLH      32.20         36.34          38.29           34.94          36.61
       Demand       1.91          2.04              2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2012     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       36.93         43.64          45.78           40.94          41.03
          LLH      31.90         36.01          37.94           34.62          36.27
       Demand       1.91          2.04              2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2013     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       37.95         44.85          47.05           42.07          42.17
          LLH      32.78         37.00          38.99           35.58          37.28
       Demand       1.91          2.04              2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2014     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       37.18         43.94          46.10           41.22          41.31
          LLH      32.12         36.25          38.20           34.86          36.52
       Demand       1.91          2.04              2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2015     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
                        Demand $         0   $             0   $             0   $          0    $             0
                           HLH      38.40            45.37             47.60             42.57           42.66
                           LLH      33.17            37.44             39.45             36.00           37.71
                        Demand       1.91             2.04                2.14            1.82              1.85
                                   Oct            Nov               Dec               Jan             Feb
           2016            HLH $         0   $             0   $             0   $          0    $             0
                           LLH $         0   $             0   $             0   $          0    $             0
                        Demand $         0   $             0   $             0   $          0    $             0
                           HLH      38.63            45.65             47.90             42.83           42.93
                           LLH      33.38            37.67             39.69             36.22           37.95
                        Demand       1.91             2.04                2.14            1.82              1.85

                                 FY 2007         FY 2008           FY 2009           FY 2010         FY 2011
PF Preference                       25.13           24.25             26.28             27.33            29.46
PF Exchange       undelivered       40.13           40.05             43.28             44.52            46.52
                  transmission       4.26            4.26              4.26              4.26             4.26
PF Exchange       delivered         44.39           44.31             47.54             48.78            50.78

      IP                           31.45           31.34              34.50            35.73            37.64
     NR                            43.00           57.00              68.45            64.34            64.98

     NR                            Oct            Nov               Dec               Jan             Feb
           2007            HLH $         0   $             0   $             0   $          0    $             0
                           LLH $         0   $             0   $             0   $          0    $             0
                        Demand $         0   $             0   $             0   $          0    $             0
                           HLH      42.95            50.75             53.24             47.61           47.72
                           LLH      37.10            41.87             44.12             40.26           42.18
                        Demand       1.91             2.04                2.14            1.82              1.85
                                   Oct            Nov               Dec               Jan             Feb
           2008            HLH $         0   $             0   $             0   $          0    $             0
                           LLH $         0   $             0   $             0   $          0    $             0
                        Demand $         0   $             0   $             0   $          0    $             0
                           HLH      57.72            68.21             71.56             63.99           64.14
                           LLH      49.86            56.28             59.30             54.12           56.69
                        Demand       1.91             2.04                2.14            1.82              1.85
                                   Oct            Nov               Dec               Jan             Feb
           2009            HLH $         0   $             0   $             0   $          0    $             0
                           LLH $         0   $             0   $             0   $          0    $             0
                        Demand $         0   $             0   $             0   $          0    $             0
                           HLH      69.82            82.51             86.56             77.41           77.58
                           LLH      60.32            68.08             71.73             65.46           68.58
                        Demand       1.91             2.04                2.14            1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2010     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       65.49          77.38         81.19           72.60          72.76
          LLH      56.57          63.85         67.28           61.40          64.32
       Demand       1.91           2.04             2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2011     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       66.15          78.17         82.01           73.34          73.50
          LLH      57.14          64.50         67.96           62.02          64.97
       Demand       1.91           2.04             2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2012     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       93.34         110.30        115.72          103.48         103.72
          LLH      80.64          91.01         95.89           87.51          91.68
       Demand       1.91           2.04             2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2013     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH      101.42         119.85        125.75          112.44         112.70
          LLH      87.62          98.90        104.20           95.09          99.62
       Demand       1.91           2.04             2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2014     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       52.28          61.78         64.82           57.96          58.09
          LLH      45.16          50.98         53.71           49.01          51.35
       Demand       1.91           2.04             2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2015     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       49.56          58.56         61.44           54.94          55.07
          LLH      42.81          48.32         50.91           46.46          48.68
       Demand       1.91           2.04             2.14         1.82              1.85
                                    Oct           Nov           Dec              Jan           Feb
          2016           HLH $            0   $         0   $           0    $         0   $           0
                          LLH $           0   $         0   $           0    $         0   $           0
                       Demand $           0   $         0   $           0    $         0   $           0
                         HLH         58.08         68.63          72.01           64.39          64.53
                          LLH        50.17         56.63          59.67           54.45          57.05
                       Demand         1.91          2.04              2.14         1.82              1.85




PF Preference (flat)                Oct           Nov           Dec              Jan           Feb
          2007           HLH              0             0               0              0               0
                          LLH             0             0               0              0               0
                       Demand             0             0               0              0               0
                         HLH         22.94         27.11          28.44           25.43          25.49
                          LLH        19.82         22.37          23.57           21.51          22.53
                       Demand         1.91          2.04              2.14         1.82              1.85
                                $         0   $         0   $           0    $         0   $           0
                                    Oct           Nov           Dec              Jan           Feb
          2008           HLH              0             0               0              0               0
                          LLH             0             0               0              0               0
                       Demand             0             0               0              0               0
                         HLH         21.98         25.98          27.25           24.37          24.43
                          LLH        18.99         21.43          22.58           20.61          21.59
                       Demand         1.91          2.04              2.14         1.82              1.85
                                $         0   $         0   $           0    $         0   $           0
                                    Oct           Nov           Dec              Jan           Feb
          2009           HLH              0             0               0              0               0
                          LLH             0             0               0              0               0
                       Demand             0             0               0              0               0
                         HLH         24.04         28.41          29.80           26.65          26.71
                          LLH        20.77         23.44          24.70           22.54          23.61
                       Demand         1.91          2.04              2.14         1.82              1.85
                                $         0   $         0   $           0    $         0   $           0
                                    Oct           Nov           Dec              Jan           Feb
          2010           HLH              0             0               0              0               0
                          LLH             0             0               0              0               0
                       Demand             0             0               0              0               0
                         HLH         25.15         29.72          31.18           27.88          27.94
                          LLH        21.72         24.52          25.84           23.58          24.70
                       Demand         1.91          2.04              2.14         1.82              1.85
                                $         0   $         0   $           0    $         0   $           0
                    Oct           Nov           Dec              Jan           Feb
2011     HLH              0             0               0              0               0
          LLH             0             0               0              0               0
       Demand             0             0               0              0               0
         HLH         27.30         32.26          33.84           30.26          30.33
          LLH        23.58         26.62          28.04           25.59          26.81
       Demand         1.91          2.04              2.14         1.82              1.85
                $         0   $         0   $           0    $         0   $           0
                    Oct           Nov           Dec              Jan           Feb
2012     HLH              0             0               0              0               0
          LLH             0             0               0              0               0
       Demand             0             0               0              0               0
         HLH         26.16         30.92          32.44           29.00          29.07
          LLH        22.60         25.51          26.88           24.53          25.70
       Demand         1.91          2.04              2.14         1.82              1.85
                $         0   $         0   $           0    $         0   $           0
                    Oct           Nov           Dec              Jan           Feb
2013     HLH              0             0               0              0               0
          LLH             0             0               0              0               0
       Demand             0             0               0              0               0
         HLH         27.30         32.26          33.84           30.26          30.33
          LLH        23.58         26.62          28.04           25.59          26.81
       Demand         1.91          2.04              2.14         1.82              1.85
                $         0   $         0   $           0    $         0   $           0
                    Oct           Nov           Dec              Jan           Feb
2014     HLH              0             0               0              0               0
          LLH             0             0               0              0               0
       Demand             0             0               0              0               0
         HLH         23.62         27.91          29.29           26.19          26.25
          LLH        20.41         23.03          24.27           22.15          23.20
       Demand         1.91          2.04              2.14         1.82              1.85
                $         0   $         0   $           0    $         0   $           0
                    Oct           Nov           Dec              Jan           Feb
2015     HLH              0             0               0              0               0
          LLH             0             0               0              0               0
       Demand             0             0               0              0               0
         HLH         24.80         29.30          30.74           27.49          27.55
          LLH        21.42         24.18          25.47           23.25          24.36
       Demand         1.91          2.04              2.14         1.82              1.85
                $         0   $         0   $           0    $         0   $           0
                    Oct           Nov           Dec              Jan           Feb
2016     HLH              0             0               0              0               0
         LLH          0           0                  0                 0                 0
      Demand          0           0                  0                 0                 0
         HLH       25.09       29.65           31.11             27.82             27.88
         LLH       21.68       24.47           25.78             23.52             24.65
      Demand        1.91        2.04            2.14              1.82              1.85
               $      0    $      0    $             0   $          0      $             0




                                           FY 2007           FY 2008           FY 2009


Flat PF preference rate                       24.07            23.17              25.12
    MAR               APR               MAY            JUN            JUL               AUG            SEP


    56.85             47.16             41.76          41.17          49.51             54.63          56.83
    50.21             40.56             35.55          31.27          41.07             46.87          50.78
    1.72              1.62              1.34           1.23           1.50              1.76           1.82


    Mar               Apr               May            Jun             Jul              Aug            Sep
$   189,231       $   136,022       $ 121,777      $ 123,346      $   149,146       $   168,723    $   152,343
$   103,517       $    74,598       $    69,537    $    59,010    $    83,296       $    87,731    $    96,649
$    15,283       $    12,847       $     9,913    $     9,343    $    11,779       $    13,284    $    13,182
       24.45             20.28             17.96          17.71          21.29             23.49          24.44
       21.59             17.44             15.29          13.45          17.66             20.16          21.84
           1.72              1.62           1.34           1.23              1.50           1.76              1.82
    Mar               Apr               May            Jun             Jul              Aug            Sep
$   185,294       $   137,021       $ 122,671      $ 127,894      $   152,307       $   168,230    $   158,047
$   107,758       $    75,526       $    70,583    $    63,138    $    85,640       $    93,229    $    97,073
$    15,726       $    13,116       $    10,334    $     9,946    $    11,961       $    13,501    $    13,490
       23.43             19.44             17.21          16.97          20.40             22.51          23.42
       20.69             16.72             14.65          12.89          16.92             19.32          20.93
           1.72              1.62           1.34           1.23              1.50           1.76              1.82
    Mar               Apr               May            Jun             Jul              Aug            Sep
$   188,259       $   139,044       $ 119,744      $ 127,279      $   154,178       $   170,125    $   159,711
$   109,185       $    76,523       $    71,050    $    60,574    $    86,889       $    94,044    $    97,899
$    16,005       $    13,357       $    10,279    $     9,780    $    12,175       $    13,701    $    13,681
       25.62             21.25             18.82          18.56          22.31             24.62          25.61
       22.63             18.28             16.02          14.09          18.51             21.13          22.89
           1.72              1.62           1.34           1.23              1.50           1.76              1.82
    Mar               Apr               May            Jun             Jul              Aug            Sep
$   192,172       $   139,390       $ 123,587      $ 132,772      $   161,552       $   166,310    $   156,050
$   106,976       $    76,913       $    73,183    $    63,112    $    90,949       $    91,790    $    95,494
$    16,146       $    13,462       $    10,648    $    10,241    $    12,807       $    13,433    $    13,417
       26.80             22.24             19.69          19.41          23.34             25.76          26.79
       23.67             19.12             16.76          14.74          19.36             22.10          23.94
           1.72              1.62           1.34           1.23              1.50           1.76              1.82
    Mar               Apr               May            Jun             Jul              Aug            Sep
$   193,997       $   137,278       $ 120,564      $ 129,749      $   160,435       $   169,682    $   157,099
$   107,766       $    75,610       $    71,222    $    61,581    $    92,875       $    90,427    $    96,292
$    16,357       $    13,308       $    10,423    $    10,042    $    12,938       $    13,558    $    13,571
       29.10             24.14             21.37          21.07          25.34             27.96          29.08
       25.70             20.76             18.20          16.00          21.02             23.99          25.99
           1.72              1.62           1.34           1.23              1.50           1.76              1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   197,790      $   141,793      $ 129,415    $ 141,308    $   166,620      $   174,579   $   158,835
$   109,613      $    80,553      $   73,764   $   67,888   $    95,936      $    92,713   $   100,372
$    17,009      $    14,217      $   11,613   $   10,753   $    13,657      $    14,312   $    14,162
      27.88            23.13           20.49        20.20         24.28            26.80         27.87
      24.63            19.90           17.44        15.34         20.14            22.99         24.91
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   196,838      $   144,988      $ 127,641    $ 136,993    $   169,220      $   176,122   $   160,235
$   112,729      $    79,505      $   72,614   $   67,355   $    94,817      $    93,327   $   101,011
$    17,217      $    14,393      $   11,487   $   10,558   $    13,770      $    14,475   $    14,328
      29.10            24.14           21.37        21.07         25.34            27.96         29.08
      25.70            20.76           18.20        16.00         21.02            23.99         25.99
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   199,224      $   146,770      $ 132,003    $ 142,558    $   171,506      $   176,521   $   164,557
$   113,889      $    80,383      $   75,006   $   70,013   $    96,115      $    95,894   $   100,040
$    17,424      $    14,564      $   11,869   $   10,986   $    13,956      $    14,637   $    14,490
      25.18            20.89           18.50        18.23         21.92            24.19         25.17
      22.24            17.96           15.74        13.85         18.19            20.76         22.49
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   201,609      $   148,548      $ 129,838    $ 141,244    $   172,000      $   178,653   $   166,529
$   115,040      $    81,256      $   75,797   $   67,626   $    96,412      $    96,889   $   101,106
$    17,629      $    14,736      $   11,798   $   10,783   $    13,990      $    14,797   $    14,652
      26.43            21.92           19.42        19.14         23.01            25.40         26.42
      23.34            18.86           16.53        14.54         19.09            21.79         23.61
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   201,609      $   148,548      $ 129,838    $ 141,244    $   172,000      $   178,653   $   166,529
$   115,040      $    81,256      $   75,797   $   67,626   $    96,412      $    96,889   $   101,106
$    17,629      $    14,736      $   11,798   $   10,783   $    13,990      $    14,797   $    14,652
      26.74            22.19           19.65        19.37         23.29            25.70         26.73
      23.62            19.08           16.72        14.71         19.32            22.05         23.89
          1.72             1.62         1.34         1.23             1.50          1.76             1.82



    Mar              Apr              May          Jun          Jul              Aug           Sep
$   130,720      $    97,935      $   57,484   $   47,173   $    55,128      $    80,984   $   103,506
$    69,725      $    48,157      $   30,673   $   19,476   $    25,801      $    34,731   $    51,377
$     9,947      $     9,110      $    5,168   $    4,003   $     5,569      $     7,722   $     9,767
      39.84            33.05           29.27        28.86         34.70            38.29         39.83
      35.19            28.43           24.92        21.91         28.78            32.85         35.59
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   130,885      $    99,533      $   58,878   $   48,877   $   57,309       $   83,293    $   105,503
$    69,857      $    49,014      $   31,472   $   20,261   $   26,933       $   35,866    $    52,477
$     9,959      $     9,257      $    5,289   $    4,143   $    5,771       $    7,933    $     9,950
      39.81            33.02           29.25        28.83         34.67            38.25         39.79
      35.16            28.40           24.89        21.90         28.76            32.82         35.56
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   130,861      $   101,105      $   56,583   $   48,677   $   57,218       $   82,418    $   103,880
$    69,938      $    49,912      $   30,256   $   20,236   $   26,973       $   35,595    $    51,752
$     9,957      $     9,398      $    5,083   $    4,123   $    5,750       $    7,843    $     9,793
      43.35            35.96           31.85        31.40         37.75            41.65         43.33
      38.29            30.93           27.11        23.84         31.31            35.74         38.72
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   131,174      $   101,426      $   56,810   $   48,952   $   57,839       $   83,487    $   104,348
$    70,141      $    50,111      $   30,399   $   20,376   $   27,313       $   36,139    $    52,038
$     9,981      $     9,428      $    5,103   $    4,145   $    5,807       $    7,941    $     9,836
      44.66            37.05           32.81        32.35         38.89            42.92         44.64
      39.45            31.87           27.93        24.57         32.26            36.83         39.89
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   130,408      $    99,122      $   60,743   $   51,354   $   60,447       $   86,872    $   107,487
$    69,791      $    48,999      $   32,621   $   21,492   $   28,684       $   37,822    $    53,769
$     9,922      $     9,214      $    5,441   $    4,340   $    6,041       $    8,245    $    10,118
      46.92            38.93           34.47        33.99         40.86            45.09         46.91
      41.45            33.48           29.34        25.81         33.90            38.69         41.91
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   128,286      $    97,038      $   63,799   $   56,304   $   66,611       $   89,504    $   104,620
$    68,898      $    48,196      $   34,486   $   23,917   $   32,054       $   39,482    $    52,640
$     9,704      $     8,954      $    5,638   $    4,685   $    6,488       $    8,362    $     9,747
      46.78            38.81           34.37        33.88         40.74            44.95         46.76
      41.32            33.38           29.26        25.73         33.79            38.57         41.79
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   129,720      $    98,186      $   64,777   $   57,256   $   67,684       $   90,606    $   105,638
$    69,706      $    48,806      $   35,041   $   24,354   $   32,613       $   40,028    $    53,199
$     9,812      $     9,072      $    5,723   $    4,763   $    6,587       $    8,463    $     9,840
      47.94            39.77           35.22        34.72         41.75            46.07         47.92
      42.35            34.21           29.98         26.37          34.63            39.53         42.82
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$   130,001      $    98,431      $   65,131    $   57,687    $   68,158       $   91,022    $   105,897
$    69,888      $    48,957      $   35,253    $   24,563    $   32,876       $   40,260    $    53,370
$     9,834      $     9,081      $    5,753    $    4,798    $    6,630       $    8,500    $     9,863
      47.04            39.03           34.56         34.07          40.97            45.21         47.02
      41.55            33.57           29.42         25.88          33.98            38.79         42.02
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$   130,744      $   101,257      $   64,691    $   58,782    $   69,351       $   91,734    $   106,520
$    70,339      $    50,446      $   35,034    $   25,080    $   33,512       $   40,652    $    53,749
$     9,887      $     9,337      $    5,709    $    4,898    $    6,729       $    8,654    $    10,000
      48.38            40.13           35.54         35.04          42.13            46.49         48.36
      42.73            34.52           30.26         26.61          34.95            39.89         43.21
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$   132,086      $   102,296      $   65,354    $   59,386    $   70,063       $   92,675    $   107,613
$    71,060      $    50,964      $   35,394    $   25,338    $   33,856       $   41,069    $    54,300
$     9,989      $     9,433      $    5,768    $    4,949    $    6,799       $    8,743    $    10,103
      48.63            40.34           35.73         35.22          42.35            46.73         48.61
      42.96            34.70           30.41         26.75          35.13            40.10         43.44
          1.72             1.62         1.34          1.23              1.50          1.76             1.82



    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      32.76            27.18           24.07         23.73          28.53            31.48         32.75
      28.93            23.37           20.49         18.02          23.66            27.01         29.26
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      32.63            27.06           23.97         23.63          28.41            31.35         32.61
      28.82            23.28           20.40         17.94          23.57            26.90         29.14
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      36.18            30.01           26.58         26.21          31.51            34.77         36.17
      31.96            25.82           22.63         19.90          26.14            29.83         32.32
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      37.58            31.17           27.60         27.21          32.72            36.11         37.56
      33.19            26.81           23.50         20.67          27.14            30.98         33.56
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      39.72            32.95           29.18         28.77          34.59            38.17         39.71
      35.09            28.34           24.84         21.85          28.70            32.75         35.48
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      39.36            32.65           28.91         28.51          34.28            37.82         39.34
      34.76            28.08           24.61         21.65          28.43            32.45         35.15
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      40.45            33.55           29.72         29.30          35.22            38.87         40.43
      35.73            28.86           25.30         22.25          29.22            33.35         36.13
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      39.63            32.87           29.11         28.70          34.51            38.08         39.61
      35.00            28.28           24.78         21.80          28.63            32.68         35.40
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$             0   $             0    $             0   $             0   $             0    $         0   $           0
        40.92             33.95              30.06             29.64             35.64            39.33         40.91
        36.15             29.20              25.59             22.51             29.56            33.74         36.55
           1.72               1.62            1.34              1.23                 1.50          1.76             1.82
     Mar                Apr               May               Jun                Jul              Aug           Sep
$             0   $             0    $             0   $             0   $             0    $         0   $           0
$             0   $             0    $             0   $             0   $             0    $         0   $           0
$             0   $             0    $             0   $             0   $             0    $         0   $           0
        41.18             34.16              30.25             29.82             35.86            39.57         41.16
        36.37             29.38              25.75             22.65             29.75            33.95         36.78
           1.72               1.62            1.34              1.23                 1.50          1.76             1.82

    FY 2012           FY 2013            FY 2014           FY 2015           FY 2016
        28.36             29.50             25.95             27.11              27.39
        46.18             47.21             46.40             47.61              47.84
         4.26              4.26              4.26              4.26               4.26
        50.44             51.47             50.66             51.87              52.10

       37.32             38.29             37.55             38.71              38.93
       90.72             98.36             51.84             49.27              57.34

     Mar                Apr               May               Jun                Jul              Aug           Sep
$             0   $             0    $             0   $             0   $             0    $         0   $           0
$             0   $             0    $             0   $             0   $             0    $         0   $           0
$             0   $             0    $             0   $             0   $             0    $         0   $           0
        45.77             37.97              33.63             33.15             39.86            43.98         45.75
        40.43             32.66              28.62             25.18             33.07            37.74         40.88
           1.72               1.62            1.34              1.23                 1.50          1.76             1.82
     Mar                Apr               May               Jun                Jul              Aug           Sep
$             0   $             0    $             0   $             0   $             0    $         0   $           0
$             0   $             0    $             0   $             0   $             0    $         0   $           0
$             0   $             0    $             0   $             0   $             0    $         0   $           0
        61.52             51.04              45.20             44.56             53.57            59.12         61.50
        54.34             43.90              38.47             33.84             44.44            50.73         54.95
           1.72               1.62            1.34              1.23                 1.50          1.76             1.82
     Mar                Apr               May               Jun                Jul              Aug           Sep
$             0   $             0    $             0   $             0   $             0    $         0   $           0
$             0   $             0    $             0   $             0   $             0    $         0   $           0
$             0   $             0    $             0   $             0   $             0    $         0   $           0
        74.42             61.73              54.67             53.90             64.81            71.51         74.39
        65.73             53.10              46.54             40.93             53.76            61.36         66.47
           1.72               1.62            1.34              1.23                 1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      69.80            57.90           51.28         50.55          60.78            67.07         69.77
      61.65            49.80           43.65         38.39          50.42            57.55         62.34
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      70.50            58.49           51.79         51.06          61.40            67.75         70.47
      62.27            50.31           44.09         38.78          50.93            58.13         62.97
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      99.49            82.53           73.09         72.06          86.64            95.60         99.45
      87.87            70.98           62.22         54.72          71.87            82.03         88.86
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
     108.10            89.68           79.42         78.30          94.14           103.88        108.06
      95.48            77.13           67.60         59.46          78.09            89.13         96.56
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      55.72            46.22           40.94         40.36          48.52            53.55         55.70
      49.22            39.76           34.85         30.65          40.25            45.94         49.77
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      52.82            43.82           38.81         38.26          46.00            50.76         52.80
      46.66            37.69           33.03         29.05          38.16            43.55         47.18
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      61.90            51.35           45.48         44.83          53.91            59.48         61.88
      54.67            44.17           38.71         34.05          44.72            51.04         55.29
          1.72             1.62         1.34          1.23              1.50          1.76             1.82




    Mar              Apr              May           Jun           Jul              Aug           Sep
            0                0              0             0               0              0               0
            0                0              0             0               0              0               0
            0                0              0             0               0              0               0
      24.45            20.28           17.96         17.71          21.29            23.49         24.44
      21.59            17.44           15.29         13.45          17.66            20.16         21.84
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
$           0    $           0    $         0   $         0   $           0    $         0   $           0
    Mar              Apr              May           Jun           Jul              Aug           Sep
            0                0              0             0               0              0               0
            0                0              0             0               0              0               0
            0                0              0             0               0              0               0
      23.43            19.44           17.21         16.97          20.40            22.51         23.42
      20.69            16.72           14.65         12.89          16.92            19.32         20.93
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
$           0    $           0    $         0   $         0   $           0    $         0   $           0
    Mar              Apr              May           Jun           Jul              Aug           Sep
            0                0              0             0               0              0               0
            0                0              0             0               0              0               0
            0                0              0             0               0              0               0
      25.62            21.25           18.82         18.56          22.31            24.62         25.61
      22.63            18.28           16.02         14.09          18.51            21.13         22.89
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
$           0    $           0    $         0   $         0   $           0    $         0   $           0
    Mar              Apr              May           Jun           Jul              Aug           Sep
            0                0              0             0               0              0               0
            0                0              0             0               0              0               0
            0                0              0             0               0              0               0
      26.80            22.24           19.69         19.41          23.34            25.76         26.79
      23.67            19.12           16.76         14.74          19.36            22.10         23.94
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
$           0    $           0    $         0   $         0   $           0    $         0   $           0
    Mar              Apr              May           Jun           Jul              Aug           Sep
            0                0              0             0               0              0               0
            0                0              0             0               0              0               0
            0                0              0             0               0              0               0
      29.10            24.14           21.37         21.07          25.34            27.96         29.08
      25.70            20.76           18.20         16.00          21.02            23.99         25.99
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
$           0    $           0    $         0   $         0   $           0    $         0   $           0
    Mar              Apr              May           Jun           Jul              Aug           Sep
            0                0              0             0               0              0               0
            0                0              0             0               0              0               0
            0                0              0             0               0              0               0
      27.88            23.13           20.49         20.20          24.28            26.80         27.87
      24.63            19.90           17.44         15.34          20.14            22.99         24.91
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
$           0    $           0    $         0   $         0   $           0    $         0   $           0
    Mar              Apr              May           Jun           Jul              Aug           Sep
            0                0              0             0               0              0               0
            0                0              0             0               0              0               0
            0                0              0             0               0              0               0
      29.10            24.14           21.37         21.07          25.34            27.96         29.08
      25.70            20.76           18.20         16.00          21.02            23.99         25.99
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
$           0    $           0    $         0   $         0   $           0    $         0   $           0
    Mar              Apr              May           Jun           Jul              Aug           Sep
            0                0              0             0               0              0               0
            0                0              0             0               0              0               0
            0                0              0             0               0              0               0
      25.18            20.89           18.50         18.23          21.92            24.19         25.17
      22.24            17.96           15.74         13.85          18.19            20.76         22.49
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
$           0    $           0    $         0   $         0   $           0    $         0   $           0
    Mar              Apr              May           Jun           Jul              Aug           Sep
            0                0              0             0               0              0               0
            0                0              0             0               0              0               0
            0                0              0             0               0              0               0
      26.43            21.92           19.42         19.14          23.01            25.40         26.42
      23.34            18.86           16.53         14.54          19.09            21.79         23.61
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
$           0    $           0    $         0   $         0   $           0    $         0   $           0
    Mar              Apr              May           Jun           Jul              Aug           Sep
            0                0              0             0               0              0               0
              0                 0                 0                 0                 0                 0                 0
              0                 0                 0                 0                 0                 0                 0
        26.74             22.19             19.65             19.37             23.29             25.70             26.73
        23.62             19.08             16.72             14.71             19.32             22.05             23.89
         1.72              1.62              1.34              1.23              1.50              1.76              1.82
$             0   $             0   $             0   $             0   $             0   $             0   $             0




    FY 2010           FY 2011           FY 2012           FY 2013           FY 2014           FY 2015           FY 2016


       26.17             28.20            27.13             28.20              24.72             25.84             26.11
                                LV
$   2,037,084 $ 1,553,865   $        13,805   25.13
$   1,132,270                        43.01%
$     177,012




                                LV
$   2,051,801 $ 1,521,981   $        16,518   24.25
$   1,159,320                        41.21%
$     182,066




                                LV
$   2,068,407 $ 1,658,957   $        16,924   26.28
$   1,165,036                        45.07%
$     184,702




                                LV
$   2,095,352 $ 1,748,335   $        17,294   27.33
$   1,177,866                        47.15%
$     187,745




                                LV
$   2,103,637 $ 1,886,596   $        17,593   29.46
$   1,178,775                        51.18%
$     189,066
                                LV
$   2,178,065 $ 1,883,138   $        18,585   28.36
$   1,218,145                        49.05%
$     198,713




                                LV
$   2,181,270 $ 1,958,525   $        18,796   29.50
$   1,217,243                        51.18%
$     200,360




                                LV
$   2,215,502 $ 1,749,916   $        19,118   25.95
$   1,233,495                        44.29%
$     203,333




                                LV
$   2,234,543 $ 1,840,785   $        19,445   27.11
$   1,242,143                        46.49%
$     205,049




                                LV
$   2,234,543 $ 1,860,028   $        19,445   27.39
$   1,242,143                        47.04%
$     205,049




$   1,233,414 $ 1,418,042                     40.13
$     621,184                        70.08%
$     118,265
$   1,246,548 $ 1,432,282            40.05
$     628,271               70.03%
$     119,437




$   1,235,780 $ 1,535,625            43.28
$     623,644               76.25%
$     117,797




$   1,246,639 $ 1,593,472            44.52
$     629,713               78.56%
$     119,361




$   1,258,190 $ 1,684,015            46.52
$     636,233               82.54%
$     120,314




$   1,262,567 $ 1,685,902            46.18
$     641,083               82.29%
$     119,343




$   1,274,791 $ 1,741,261            47.21
$     647,661               84.34%
$     119,947
$   1,284,302 $ 1,724,463            46.40
$     652,929               82.75%
$     121,359




$   1,292,946 $ 1,782,396            47.61
$     657,821               85.10%
$     122,228




$   1,306,212 $ 1,809,460            47.84
$     664,571               85.55%
$     123,483




                                       -
$          0   $       0             31.45
$          0                57.63%
$          0




$          0   $       0             31.34
$          0                57.39%
$          0




$          0   $       0             34.50
$          0                63.64%
$   0




$   0   $   0            35.73
$   0           66.10%
$   0




$   0   $   0            37.64
$   0           69.88%
$   0




$   0   $   0            37.32
$   0           69.23%
$   0




$   0   $   0            38.29
$   0           71.15%
$   0




$   0   $   0            37.55
$   0           69.71%
$   0




$   0   $   0            38.71
$   0           71.99%
$   0




$   0   $   0             38.93
$   0           72.43%
$   0




                            -
$   0   $   0             43.00
$   0           80.52%
$   0




$   0   $   0             57.00
$   0           108.22%
$   0




$   0   $   0             68.45
$   0           130.91%
$   0
$   0   $   0             64.34
$   0           122.78%
$   0




$   0   $   0             64.98
$   0           124.02%
$   0




$   0   $   0             90.72
$   0           175.00%
$   0




$   0   $   0             98.36
$   0           190.16%
$   0




$   0   $   0             51.84
$   0           98.02%
$   0




$   0   $   0             49.27
$   0           92.92%
$   0
$   0   $      0              57.34
$   0               108.89%
$   0




    0       24.07




$   0


    0       23.17




$   0


    0       25.12




$   0


    0       26.17




$   0
    0   28.20




$   0


    0   27.13




$   0


    0   28.20




$   0


    0   24.72




$   0


    0   25.84




$   0
    0   26.11




$   0
   LEVELIZED MARGINAL COSTS OF POWER
                                     OCT            NOV            DEC               JAN            FEB
   Energy Mills/kwh
                             HLH     53.34          63.03          66.13             59.13          59.27
                             LLH     46.08          52.01          54.79             50.01          52.39
MONTHLY DEMAND                       1.91           2.04           2.14              1.82           1.85


   PF Preference (average)           Oct            Nov            Dec               Jan            Feb
             2007            HLH $ 120,384      $ 156,425      $   184,820       $ 171,541      $   153,123
                             LLH $    66,704    $    86,847    $   106,123       $    95,070    $    85,478
                        Demand $      12,232    $    14,532    $    16,272       $    14,533    $    14,444
                             HLH       24.05           28.42          29.82            26.67           26.73
                             LLH       20.78           23.45          24.71            22.55           23.63
                        Demand           1.91           2.04              2.14           1.82              1.85
                                     Oct            Nov            Dec               Jan            Feb
             2008            HLH $ 122,006      $ 157,857      $   180,970       $ 169,953      $   157,968
                             LLH $    63,682    $    86,262    $   110,013       $    96,257    $    90,690
                        Demand $      12,523    $    14,977    $    16,748       $    14,903    $    14,863
                             HLH       23.23           27.45          28.80            25.75           25.81
                             LLH       20.06           22.65          23.86            21.78           22.81
                        Demand           1.91           2.04              2.14           1.82              1.85
                                     Oct            Nov            Dec               Jan            Feb
             2009            HLH $ 123,078      $ 156,093      $   192,258       $ 172,780      $   153,968
                             LLH $    65,611    $    91,441    $   105,185       $    97,998    $    89,487
                        Demand $      12,786    $    15,324    $    17,046       $    15,212    $    15,182
                             HLH       24.50           28.95          30.38            27.16           27.22
                             LLH       21.17           23.89          25.17            22.97           24.07
                        Demand           1.91           2.04              2.14           1.82              1.85
                                     Oct            Nov            Dec               Jan            Feb
             2010            HLH $ 124,752      $ 158,309      $   194,964       $ 172,447      $   156,317
                             LLH $    66,388    $    92,504    $   106,435       $ 101,509      $    90,384
                        Demand $      13,015    $    15,590    $    17,339       $    15,471    $    15,442
                             HLH       26.52           31.34          32.88            29.40           29.47
                             LLH       22.91           25.86          27.24            24.86           26.05
                        Demand           1.91           2.04              2.14           1.82              1.85
                                     Oct            Nov            Dec               Jan            Feb
             2011            HLH $ 124,276      $ 162,815      $   196,824       $ 174,320      $   157,946
                             LLH $    68,374    $    90,910    $   107,509       $ 102,328      $    91,160
                        Demand $      13,226    $    15,767    $    17,578       $    15,683    $    15,653
                             HLH       29.03           34.31          36.00            32.19           32.26
                             LLH       25.08           28.31          29.83            27.22           28.52
                        Demand           1.91           2.04              2.14           1.82              1.85
                          Oct          Nov          Dec              Jan          Feb
        2012     HLH $ 127,514     $ 167,243    $   201,787      $ 179,286    $   169,242
                  LLH $   69,881   $   92,843   $   109,687      $ 104,568    $    96,199
               Demand $   13,819   $   16,516   $    18,319      $   16,374   $    16,384
                 HLH       28.02        33.11         34.74           31.06         31.13
                  LLH      24.21        27.32         28.79           26.27         27.52
               Demand       1.91         2.04             2.14         1.82             1.85
                          Oct          Nov          Dec              Jan          Feb
        2013     HLH $ 129,792     $ 168,370    $   200,242      $ 183,979    $   164,591
                  LLH $   68,758   $   93,146   $   112,449      $ 103,284    $    94,714
               Demand $   13,971   $   16,694   $    18,517      $   16,602   $    16,608
                 HLH       29.19        34.49         36.19           32.36         32.43
                  LLH      25.21        28.46         29.98           27.36         28.67
               Demand       1.91         2.04             2.14         1.82             1.85
                          Oct          Nov          Dec              Jan          Feb
        2014     HLH $ 131,689     $ 170,966    $   203,260      $ 186,660    $   166,831
                  LLH $   69,738   $   94,344   $   113,887      $ 104,611    $    95,868
               Demand $   14,180   $   16,940   $    18,791      $   16,842   $    16,847
                 HLH       24.42        28.85         30.27           27.07         27.13
                  LLH      21.09        23.81         25.09           22.89         23.98
               Demand       1.91         2.04             2.14         1.82             1.85
                          Oct          Nov          Dec              Jan          Feb
        2015     HLH $ 133,588     $ 171,028    $   209,241      $ 189,401    $   169,354
                  LLH $   70,716   $   97,522   $   112,945      $ 105,968    $    97,201
               Demand $   14,389   $   17,186   $    19,067      $   17,085   $    17,091
                 HLH       25.71        30.38         31.88           28.51         28.57
                  LLH      22.21        25.07         26.42           24.11         25.26
               Demand       1.91         2.04             2.14         1.82             1.85
                          Oct          Nov          Dec              Jan          Feb
        2016     HLH $ 133,588     $ 171,028    $   209,241      $ 189,401    $   169,354
                  LLH $   70,716   $   97,522   $   112,945      $ 105,968    $    97,201
               Demand $   14,389   $   17,186   $    19,067      $   17,085   $    17,091
                 HLH       25.90        30.61         32.12           28.72         28.78
                  LLH      22.38        25.26         26.61           24.29         25.44
               Demand       1.91         2.04             2.14         1.82             1.85



PF Exchange               Oct          Nov          Dec              Jan          Feb
        2007     HLH $    86,431   $ 116,176    $   156,997      $ 155,072    $   145,809
                  LLH $   45,165   $   55,116   $    73,129      $   86,073   $    81,761
               Demand $   10,289   $   11,629   $    15,475      $   14,927   $    14,659
                 HLH       37.38        44.17         46.34           41.44         41.54
          LLH      32.29        36.45         38.40           35.05         36.72
       Demand       1.91         2.04             2.14         1.82             1.85
                  Oct          Nov          Dec              Jan          Feb
2008     HLH $    86,984   $ 116,728    $   157,519      $ 155,104    $   145,934
          LLH $   45,512   $   55,439   $    73,436      $   86,131   $    81,871
       Demand $   10,341   $   11,678   $    15,519      $   14,927   $    14,670
         HLH       37.35        44.14         46.31           41.41         41.50
          LLH      32.27        36.42         38.37           35.02         36.69
       Demand       1.91         2.04             2.14         1.82             1.85
                  Oct          Nov          Dec              Jan          Feb
2009     HLH $    86,692   $ 116,055    $   155,901      $ 154,091    $   142,298
          LLH $   45,452   $   55,226   $    72,786      $   85,640   $    79,877
       Demand $   10,292   $   11,603   $    15,364      $   14,820   $    13,771
         HLH       40.67        48.06         50.42           45.09         45.19
          LLH      35.13        39.66         41.78           38.13         39.95
       Demand       1.91         2.04             2.14         1.82             1.85
                  Oct          Nov          Dec              Jan          Feb
2010     HLH $    87,890   $ 117,562    $   157,647      $ 154,276    $   145,228
          LLH $   46,141   $   56,016   $    73,675      $   85,781   $    81,582
       Demand $   10,425   $   11,749   $    15,516      $   14,838   $    14,591
         HLH       41.90        49.52         51.95           46.46         46.56
          LLH      36.20        40.86         43.05           39.29         41.16
       Demand       1.91         2.04             2.14         1.82             1.85
                  Oct          Nov          Dec              Jan          Feb
2011     HLH $    86,278   $ 118,125    $   158,021      $ 154,252    $   145,082
          LLH $   45,334   $   56,383   $    73,954      $   85,825   $    81,559
       Demand $   10,230   $   11,796   $    15,542      $   14,825   $    14,600
         HLH       44.03        52.02         54.58           48.81         48.92
          LLH      38.03        42.93         45.23           41.28         43.24
       Demand       1.91         2.04             2.14         1.82             1.85
                  Oct          Nov          Dec              Jan          Feb
2012     HLH $    89,573   $ 118,625    $   156,601      $ 150,671    $   140,934
          LLH $   47,398   $   56,966   $    73,657      $   83,985   $    79,405
       Demand $   10,436   $   11,703   $    15,235      $   14,345   $    14,047
         HLH       43.89        51.87         54.42           48.66         48.77
          LLH      37.92        42.80         45.09           41.15         43.11
       Demand       1.91         2.04             2.14         1.82             1.85
                  Oct          Nov          Dec              Jan          Feb
2013     HLH $    90,318   $ 119,623    $   157,799      $ 152,296    $   140,889
          LLH $   47,830   $   57,491   $    74,268      $   84,926   $    79,401
       Demand $   10,519   $   11,799   $    15,349      $   14,496   $    13,524
         HLH       44.98        53.16         55.77           49.87         49.98
               LLH      38.86         43.86          46.21           42.17          44.18
            Demand       1.91          2.04              2.14         1.82              1.85
                       Oct           Nov           Dec              Jan           Feb
     2014     HLH $    91,596    $ 121,280     $   159,740      $ 152,534     $   142,825
               LLH $   48,554    $   58,346    $    75,245      $   85,085    $    80,532
            Demand $   10,660    $   11,959    $    15,533      $   14,517    $    14,232
              HLH       44.14         52.16          54.72           48.93          49.04
               LLH      38.13         43.04          45.34           41.38          43.35
            Demand       1.91          2.04              2.14         1.82              1.85
                       Oct           Nov           Dec              Jan           Feb
     2015     HLH $    91,281    $ 121,723     $   160,026      $ 153,289     $   143,546
               LLH $   48,423    $   58,618    $    75,442      $   85,545    $    80,981
            Demand $   10,608    $   11,990    $    15,546      $   14,575    $    14,294
              HLH       45.39         53.64          56.28           50.32          50.44
               LLH      39.21         44.26          46.63           42.56          44.58
            Demand       1.91          2.04              2.14         1.82              1.85
                       Oct           Nov           Dec              Jan           Feb
     2016     HLH $    92,217    $ 122,972     $   161,668      $ 154,862     $   145,019
               LLH $   48,920    $   59,220    $    76,216      $   86,423    $    81,812
            Demand $   10,717    $   12,113    $    15,706      $   14,725    $    14,440
              HLH       45.63         53.92          56.57           50.59          50.70
               LLH      39.42         44.49          46.88           42.78          44.82
            Demand       1.91          2.04              2.14         1.82              1.85



IP                     Oct           Nov           Dec              Jan           Feb
     2007     HLH $          0   $         0   $           0    $         0   $           0
               LLH $         0   $         0   $           0    $         0   $           0
            Demand $         0   $         0   $           0    $         0   $           0
              HLH       30.74         36.32          38.11           34.08          34.15
               LLH      26.55         29.97          31.58           28.82          30.19
            Demand       1.91          2.04              2.14         1.82              1.85
                       Oct           Nov           Dec              Jan           Feb
     2008     HLH $          0   $         0   $           0    $         0   $           0
               LLH $         0   $         0   $           0    $         0   $           0
            Demand $         0   $         0   $           0    $         0   $           0
              HLH       30.61         36.17          37.95           33.94          34.01
               LLH      26.44         29.85          31.45           28.70          30.07
            Demand       1.91          2.04              2.14         1.82              1.85
                       Oct           Nov           Dec              Jan           Feb
     2009     HLH $          0   $         0   $           0    $         0   $           0
               LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       33.95         40.11          42.09           37.63          37.72
          LLH      29.33         33.10          34.87           31.83          33.34
       Demand       1.91          2.04              2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2010     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       35.25         41.66          43.71           39.08          39.17
          LLH      30.46         34.38          36.22           33.05          34.63
       Demand       1.91          2.04              2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2011     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       37.27         44.04          46.21           41.32          41.41
          LLH      32.20         36.34          38.29           34.94          36.61
       Demand       1.91          2.04              2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2012     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       36.93         43.64          45.78           40.94          41.03
          LLH      31.90         36.01          37.94           34.62          36.27
       Demand       1.91          2.04              2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2013     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       37.95         44.85          47.05           42.07          42.17
          LLH      32.78         37.00          38.99           35.58          37.28
       Demand       1.91          2.04              2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2014     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       37.18         43.94          46.10           41.22          41.31
          LLH      32.12         36.25          38.20           34.86          36.52
       Demand       1.91          2.04              2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2015     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
                        Demand $         0   $             0   $             0   $          0    $             0
                           HLH      38.40            45.37             47.60             42.57           42.66
                           LLH      33.17            37.44             39.45             36.00           37.71
                        Demand       1.91             2.04                2.14            1.82              1.85
                                   Oct            Nov               Dec               Jan             Feb
           2016            HLH $         0   $             0   $             0   $          0    $             0
                           LLH $         0   $             0   $             0   $          0    $             0
                        Demand $         0   $             0   $             0   $          0    $             0
                           HLH      38.63            45.65             47.90             42.83           42.93
                           LLH      33.38            37.67             39.69             36.22           37.95
                        Demand       1.91             2.04                2.14            1.82              1.85

                                 FY 2007         FY 2008           FY 2009           FY 2010         FY 2011
PF Preference                       26.36           25.65             26.90             28.86            31.30
PF Exchange       undelivered       40.13           40.05             43.28             44.52            46.52
                  transmission       4.26            4.26              4.26              4.26             4.26
PF Exchange       delivered         44.39           44.31             47.54             48.78            50.78

      IP                           31.45           31.34              34.50            35.73            37.64
     NR                            43.00           57.00              68.45            64.34            64.98

     NR                            Oct            Nov               Dec               Jan             Feb
           2007            HLH $         0   $             0   $             0   $          0    $             0
                           LLH $         0   $             0   $             0   $          0    $             0
                        Demand $         0   $             0   $             0   $          0    $             0
                           HLH      42.95            50.75             53.24             47.61           47.72
                           LLH      37.10            41.87             44.12             40.26           42.18
                        Demand       1.91             2.04                2.14            1.82              1.85
                                   Oct            Nov               Dec               Jan             Feb
           2008            HLH $         0   $             0   $             0   $          0    $             0
                           LLH $         0   $             0   $             0   $          0    $             0
                        Demand $         0   $             0   $             0   $          0    $             0
                           HLH      57.72            68.21             71.56             63.99           64.14
                           LLH      49.86            56.28             59.30             54.12           56.69
                        Demand       1.91             2.04                2.14            1.82              1.85
                                   Oct            Nov               Dec               Jan             Feb
           2009            HLH $         0   $             0   $             0   $          0    $             0
                           LLH $         0   $             0   $             0   $          0    $             0
                        Demand $         0   $             0   $             0   $          0    $             0
                           HLH      69.82            82.51             86.56             77.41           77.58
                           LLH      60.32            68.08             71.73             65.46           68.58
                        Demand       1.91             2.04                2.14            1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2010     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       65.49          77.38         81.19           72.60          72.76
          LLH      56.57          63.85         67.28           61.40          64.32
       Demand       1.91           2.04             2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2011     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       66.15          78.17         82.01           73.34          73.50
          LLH      57.14          64.50         67.96           62.02          64.97
       Demand       1.91           2.04             2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2012     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       93.34         110.30        115.72          103.48         103.72
          LLH      80.64          91.01         95.89           87.51          91.68
       Demand       1.91           2.04             2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2013     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH      101.42         119.85        125.75          112.44         112.70
          LLH      87.62          98.90        104.20           95.09          99.62
       Demand       1.91           2.04             2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2014     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       52.28          61.78         64.82           57.96          58.09
          LLH      45.16          50.98         53.71           49.01          51.35
       Demand       1.91           2.04             2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2015     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       49.56          58.56         61.44           54.94          55.07
          LLH      42.81          48.32         50.91           46.46          48.68
       Demand       1.91           2.04             2.14         1.82              1.85
                                    Oct           Nov           Dec              Jan           Feb
          2016           HLH $            0   $         0   $           0    $         0   $           0
                          LLH $           0   $         0   $           0    $         0   $           0
                       Demand $           0   $         0   $           0    $         0   $           0
                         HLH         58.08         68.63          72.01           64.39          64.53
                          LLH        50.17         56.63          59.67           54.45          57.05
                       Demand         1.91          2.04              2.14         1.82              1.85




PF Preference (flat)                Oct           Nov           Dec              Jan           Feb
          2007           HLH              0             0               0              0               0
                          LLH             0             0               0              0               0
                       Demand             0             0               0              0               0
                         HLH         24.05         28.42          29.82           26.67          26.73
                          LLH        20.78         23.45          24.71           22.55          23.63
                       Demand         1.91          2.04              2.14         1.82              1.85
                                $         0   $         0   $           0    $         0   $           0
                                    Oct           Nov           Dec              Jan           Feb
          2008           HLH              0             0               0              0               0
                          LLH             0             0               0              0               0
                       Demand             0             0               0              0               0
                         HLH         23.23         27.45          28.80           25.75          25.81
                          LLH        20.06         22.65          23.86           21.78          22.81
                       Demand         1.91          2.04              2.14         1.82              1.85
                                $         0   $         0   $           0    $         0   $           0
                                    Oct           Nov           Dec              Jan           Feb
          2009           HLH              0             0               0              0               0
                          LLH             0             0               0              0               0
                       Demand             0             0               0              0               0
                         HLH         24.50         28.95          30.38           27.16          27.22
                          LLH        21.17         23.89          25.17           22.97          24.07
                       Demand         1.91          2.04              2.14         1.82              1.85
                                $         0   $         0   $           0    $         0   $           0
                                    Oct           Nov           Dec              Jan           Feb
          2010           HLH              0             0               0              0               0
                          LLH             0             0               0              0               0
                       Demand             0             0               0              0               0
                         HLH         26.52         31.34          32.88           29.40          29.47
                          LLH        22.91         25.86          27.24           24.86          26.05
                       Demand         1.91          2.04              2.14         1.82              1.85
                                $         0   $         0   $           0    $         0   $           0
                    Oct           Nov           Dec              Jan           Feb
2011     HLH              0             0               0              0               0
          LLH             0             0               0              0               0
       Demand             0             0               0              0               0
         HLH         29.03         34.31          36.00           32.19          32.26
          LLH        25.08         28.31          29.83           27.22          28.52
       Demand         1.91          2.04              2.14         1.82              1.85
                $         0   $         0   $           0    $         0   $           0
                    Oct           Nov           Dec              Jan           Feb
2012     HLH              0             0               0              0               0
          LLH             0             0               0              0               0
       Demand             0             0               0              0               0
         HLH         28.02         33.11          34.74           31.06          31.13
          LLH        24.21         27.32          28.79           26.27          27.52
       Demand         1.91          2.04              2.14         1.82              1.85
                $         0   $         0   $           0    $         0   $           0
                    Oct           Nov           Dec              Jan           Feb
2013     HLH              0             0               0              0               0
          LLH             0             0               0              0               0
       Demand             0             0               0              0               0
         HLH         29.19         34.49          36.19           32.36          32.43
          LLH        25.21         28.46          29.98           27.36          28.67
       Demand         1.91          2.04              2.14         1.82              1.85
                $         0   $         0   $           0    $         0   $           0
                    Oct           Nov           Dec              Jan           Feb
2014     HLH              0             0               0              0               0
          LLH             0             0               0              0               0
       Demand             0             0               0              0               0
         HLH         24.42         28.85          30.27           27.07          27.13
          LLH        21.09         23.81          25.09           22.89          23.98
       Demand         1.91          2.04              2.14         1.82              1.85
                $         0   $         0   $           0    $         0   $           0
                    Oct           Nov           Dec              Jan           Feb
2015     HLH              0             0               0              0               0
          LLH             0             0               0              0               0
       Demand             0             0               0              0               0
         HLH         25.71         30.38          31.88           28.51          28.57
          LLH        22.21         25.07          26.42           24.11          25.26
       Demand         1.91          2.04              2.14         1.82              1.85
                $         0   $         0   $           0    $         0   $           0
                    Oct           Nov           Dec              Jan           Feb
2016     HLH              0             0               0              0               0
         LLH          0           0                  0                 0                 0
      Demand          0           0                  0                 0                 0
         HLH       25.90       30.61           32.12             28.72             28.78
         LLH       22.38       25.26           26.61             24.29             25.44
      Demand        1.91        2.04            2.14              1.82              1.85
               $      0    $      0    $             0   $          0      $             0




                                           FY 2007           FY 2008           FY 2009


Flat PF preference rate                       25.13            24.35              25.56


                                                                                  25.01
    MAR               APR               MAY            JUN            JUL               AUG            SEP


    56.85             47.16             41.76          41.17          49.51             54.63          56.83
    50.21             40.56             35.55          31.27          41.07             46.87          50.78
    1.72              1.62              1.34           1.23           1.50              1.76           1.82


    Mar               Apr               May            Jun             Jul              Aug            Sep
$   149,418       $   105,526       $    92,428    $    87,278    $   110,881       $   127,006    $   116,639
$    81,738       $    57,874       $    52,778    $    41,755    $    61,925       $    66,040    $    73,998
$    12,068       $     9,967       $     7,524    $     6,611    $     8,757       $     9,999    $    10,092
       25.64             21.27             18.83          18.57          22.32             24.63          25.63
       22.64             18.29             16.03          14.10          18.52             21.14          22.90
           1.72              1.62           1.34           1.23              1.50           1.76              1.82
    Mar               Apr               May            Jun             Jul              Aug            Sep
$   146,195       $   106,360       $    90,356    $    87,869    $   113,321       $   127,272    $   121,647
$    85,020       $    58,626       $    51,990    $    43,379    $    63,718       $    70,531    $    74,716
$    12,408       $    10,181       $     7,612    $     6,833    $     8,899       $    10,214    $    10,383
       24.76             20.54             18.19          17.93          21.56             23.79          24.75
       21.87             17.66             15.48          13.62          17.88             20.41          22.11
           1.72              1.62           1.34           1.23              1.50           1.76              1.82
    Mar               Apr               May            Jun             Jul              Aug            Sep
$   148,871       $   108,128       $    90,698    $    90,585    $   115,119       $   129,480    $   123,640
$    86,341       $    59,508       $    53,816    $    43,111    $    64,877       $    71,575    $    75,788
$    12,657       $    10,387       $     7,786    $     6,960    $     9,091       $    10,428    $    10,591
       26.11             21.66             19.18          18.91          22.74             25.09          26.10
       23.07             18.63             16.33          14.36          18.86             21.53          23.32
           1.72              1.62           1.34           1.23              1.50           1.76              1.82
    Mar               Apr               May            Jun             Jul              Aug            Sep
$   153,187       $   109,422       $    91,939    $    91,818    $   116,670       $   131,311    $   125,269
$    85,274       $    60,377       $    54,442    $    43,645    $    65,681       $    72,473    $    76,658
$    12,871       $    10,567       $     7,921    $     7,082    $     9,249       $    10,606    $    10,770
       28.27             23.45             20.76          20.47          24.61             27.16          28.25
       24.97             20.17             17.68          15.55          20.42             23.31          25.25
           1.72              1.62           1.34           1.23              1.50           1.76              1.82
    Mar               Apr               May            Jun             Jul              Aug            Sep
$   154,697       $   110,522       $    92,864    $    92,710    $   116,463       $   134,125    $   126,270
$    85,935       $    60,873       $    54,859    $    44,002    $    67,420       $    71,478    $    77,396
$    13,044       $    10,714       $     8,028    $     7,175    $     9,392       $    10,717    $    10,908
       30.94             25.67             22.73          22.41          26.95             29.74          30.93
       27.33             22.08             19.35          17.02          22.35             25.51          27.64
           1.72              1.62           1.34           1.23              1.50           1.76              1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   158,037      $   111,573      $   96,575   $   99,228   $   120,422      $   138,217   $   128,057
$    87,582      $    63,385      $   55,046   $   47,672   $    69,336      $    73,403   $    80,923
$    13,590      $    11,187      $    8,666   $    7,550   $     9,870      $    11,331   $    11,417
      29.87            24.77           21.94        21.63         26.01            28.70         29.85
      26.38            21.31           18.68        16.43         21.57            24.63         26.68
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   157,484      $   114,257      $   97,559   $   99,269   $   122,870      $   139,633   $   129,346
$    90,191      $    62,653      $   55,501   $   48,808   $    68,847      $    73,991   $    81,539
$    13,775      $    11,342      $    8,780   $    7,651   $     9,999      $    11,476   $    11,566
      31.11            25.81           22.85        22.53         27.09            29.89         31.10
      27.48            22.20           19.45        17.11         22.47            25.65         27.79
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   159,748      $   115,948      $   98,981   $ 100,651    $   124,565      $   140,272   $   133,116
$    91,321      $    63,503      $   56,242   $   49,432   $    69,808      $    76,202   $    80,926
$    13,972      $    11,505      $    8,900   $    7,757   $    10,136      $    11,632   $    11,721
      26.03            21.59           19.12        18.85         22.66            25.01         26.02
      22.99            18.57           16.28        14.31         18.80            21.46         23.25
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   162,044      $   117,663      $   99,288   $ 102,995    $   126,298      $   142,323   $   135,015
$    92,464      $    64,362      $   57,962   $   49,313   $    70,794      $    77,186   $    81,972
$    14,169      $    11,672      $    9,022   $    7,863   $    10,273      $    11,788   $    11,879
      27.41            22.73           20.13        19.85         23.87            26.34         27.39
      24.21            19.55           17.14        15.07         19.80            22.60         24.48
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   162,044      $   117,663      $   99,288   $ 102,995    $   126,298      $   142,323   $   135,015
$    92,464      $    64,362      $   57,962   $   49,313   $    70,794      $    77,186   $    81,972
$    14,169      $    11,672      $    9,022   $    7,863   $    10,273      $    11,788   $    11,879
      27.61            22.90           20.28        20.00         24.04            26.53         27.60
      24.39            19.70           17.27        15.19         19.94            22.76         24.66
          1.72             1.62         1.34         1.23             1.50          1.76             1.82



    Mar              Apr              May          Jun          Jul              Aug           Sep
$   130,720      $    97,935      $   57,484   $   47,173   $    55,128      $    80,984   $   103,506
$    69,725      $    48,157      $   30,673   $   19,476   $    25,801      $    34,731   $    51,377
$     9,947      $     9,110      $    5,168   $    4,003   $     5,569      $     7,722   $     9,767
      39.84            33.05           29.27        28.86         34.70            38.29         39.83
      35.19            28.43           24.92        21.91         28.78            32.85         35.59
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   130,885      $    99,533      $   58,878   $   48,877   $   57,309       $   83,293    $   105,503
$    69,857      $    49,014      $   31,472   $   20,261   $   26,933       $   35,866    $    52,477
$     9,959      $     9,257      $    5,289   $    4,143   $    5,771       $    7,933    $     9,950
      39.81            33.02           29.25        28.83         34.67            38.25         39.79
      35.16            28.40           24.89        21.90         28.76            32.82         35.56
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   130,861      $   101,105      $   56,583   $   48,677   $   57,218       $   82,418    $   103,880
$    69,938      $    49,912      $   30,256   $   20,236   $   26,973       $   35,595    $    51,752
$     9,957      $     9,398      $    5,083   $    4,123   $    5,750       $    7,843    $     9,793
      43.35            35.96           31.85        31.40         37.75            41.65         43.33
      38.29            30.93           27.11        23.84         31.31            35.74         38.72
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   131,174      $   101,426      $   56,810   $   48,952   $   57,839       $   83,487    $   104,348
$    70,141      $    50,111      $   30,399   $   20,376   $   27,313       $   36,139    $    52,038
$     9,981      $     9,428      $    5,103   $    4,145   $    5,807       $    7,941    $     9,836
      44.66            37.05           32.81        32.35         38.89            42.92         44.64
      39.45            31.87           27.93        24.57         32.26            36.83         39.89
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   130,408      $    99,122      $   60,743   $   51,354   $   60,447       $   86,872    $   107,487
$    69,791      $    48,999      $   32,621   $   21,492   $   28,684       $   37,822    $    53,769
$     9,922      $     9,214      $    5,441   $    4,340   $    6,041       $    8,245    $    10,118
      46.92            38.93           34.47        33.99         40.86            45.09         46.91
      41.45            33.48           29.34        25.81         33.90            38.69         41.91
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   128,286      $    97,038      $   63,799   $   56,304   $   66,611       $   89,504    $   104,620
$    68,898      $    48,196      $   34,486   $   23,917   $   32,054       $   39,482    $    52,640
$     9,704      $     8,954      $    5,638   $    4,685   $    6,488       $    8,362    $     9,747
      46.78            38.81           34.37        33.88         40.74            44.95         46.76
      41.32            33.38           29.26        25.73         33.79            38.57         41.79
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   129,720      $    98,186      $   64,777   $   57,256   $   67,684       $   90,606    $   105,638
$    69,706      $    48,806      $   35,041   $   24,354   $   32,613       $   40,028    $    53,199
$     9,812      $     9,072      $    5,723   $    4,763   $    6,587       $    8,463    $     9,840
      47.94            39.77           35.22        34.72         41.75            46.07         47.92
      42.35            34.21           29.98         26.37          34.63            39.53         42.82
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$   130,001      $    98,431      $   65,131    $   57,687    $   68,158       $   91,022    $   105,897
$    69,888      $    48,957      $   35,253    $   24,563    $   32,876       $   40,260    $    53,370
$     9,834      $     9,081      $    5,753    $    4,798    $    6,630       $    8,500    $     9,863
      47.04            39.03           34.56         34.07          40.97            45.21         47.02
      41.55            33.57           29.42         25.88          33.98            38.79         42.02
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$   130,744      $   101,257      $   64,691    $   58,782    $   69,351       $   91,734    $   106,520
$    70,339      $    50,446      $   35,034    $   25,080    $   33,512       $   40,652    $    53,749
$     9,887      $     9,337      $    5,709    $    4,898    $    6,729       $    8,654    $    10,000
      48.38            40.13           35.54         35.04          42.13            46.49         48.36
      42.73            34.52           30.26         26.61          34.95            39.89         43.21
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$   132,086      $   102,296      $   65,354    $   59,386    $   70,063       $   92,675    $   107,613
$    71,060      $    50,964      $   35,394    $   25,338    $   33,856       $   41,069    $    54,300
$     9,989      $     9,433      $    5,768    $    4,949    $    6,799       $    8,743    $    10,103
      48.63            40.34           35.73         35.22          42.35            46.73         48.61
      42.96            34.70           30.41         26.75          35.13            40.10         43.44
          1.72             1.62         1.34          1.23              1.50          1.76             1.82



    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      32.76            27.18           24.07         23.73          28.53            31.48         32.75
      28.93            23.37           20.49         18.02          23.66            27.01         29.26
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      32.63            27.06           23.97         23.63          28.41            31.35         32.61
      28.82            23.28           20.40         17.94          23.57            26.90         29.14
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      36.18            30.01           26.58         26.21          31.51            34.77         36.17
      31.96            25.82           22.63         19.90          26.14            29.83         32.32
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      37.58            31.17           27.60         27.21          32.72            36.11         37.56
      33.19            26.81           23.50         20.67          27.14            30.98         33.56
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      39.72            32.95           29.18         28.77          34.59            38.17         39.71
      35.09            28.34           24.84         21.85          28.70            32.75         35.48
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      39.36            32.65           28.91         28.51          34.28            37.82         39.34
      34.76            28.08           24.61         21.65          28.43            32.45         35.15
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      40.45            33.55           29.72         29.30          35.22            38.87         40.43
      35.73            28.86           25.30         22.25          29.22            33.35         36.13
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      39.63            32.87           29.11         28.70          34.51            38.08         39.61
      35.00            28.28           24.78         21.80          28.63            32.68         35.40
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$             0   $             0    $             0   $             0   $             0    $         0   $           0
        40.92             33.95              30.06             29.64             35.64            39.33         40.91
        36.15             29.20              25.59             22.51             29.56            33.74         36.55
           1.72               1.62            1.34              1.23                 1.50          1.76             1.82
     Mar                Apr               May               Jun                Jul              Aug           Sep
$             0   $             0    $             0   $             0   $             0    $         0   $           0
$             0   $             0    $             0   $             0   $             0    $         0   $           0
$             0   $             0    $             0   $             0   $             0    $         0   $           0
        41.18             34.16              30.25             29.82             35.86            39.57         41.16
        36.37             29.38              25.75             22.65             29.75            33.95         36.78
           1.72               1.62            1.34              1.23                 1.50          1.76             1.82

    FY 2012           FY 2013            FY 2014           FY 2015           FY 2016
        30.36             31.50             26.91             28.16              28.35
        46.18             47.21             46.40             47.61              47.84
         4.26              4.26              4.26              4.26               4.26
        50.44             51.47             50.66             51.87              52.10

       37.32             38.29             37.55             38.71              38.93
       90.72             98.36             51.84             49.27              57.34

     Mar                Apr               May               Jun                Jul              Aug           Sep
$             0   $             0    $             0   $             0   $             0    $         0   $           0
$             0   $             0    $             0   $             0   $             0    $         0   $           0
$             0   $             0    $             0   $             0   $             0    $         0   $           0
        45.77             37.97              33.63             33.15             39.86            43.98         45.75
        40.43             32.66              28.62             25.18             33.07            37.74         40.88
           1.72               1.62            1.34              1.23                 1.50          1.76             1.82
     Mar                Apr               May               Jun                Jul              Aug           Sep
$             0   $             0    $             0   $             0   $             0    $         0   $           0
$             0   $             0    $             0   $             0   $             0    $         0   $           0
$             0   $             0    $             0   $             0   $             0    $         0   $           0
        61.52             51.04              45.20             44.56             53.57            59.12         61.50
        54.34             43.90              38.47             33.84             44.44            50.73         54.95
           1.72               1.62            1.34              1.23                 1.50          1.76             1.82
     Mar                Apr               May               Jun                Jul              Aug           Sep
$             0   $             0    $             0   $             0   $             0    $         0   $           0
$             0   $             0    $             0   $             0   $             0    $         0   $           0
$             0   $             0    $             0   $             0   $             0    $         0   $           0
        74.42             61.73              54.67             53.90             64.81            71.51         74.39
        65.73             53.10              46.54             40.93             53.76            61.36         66.47
           1.72               1.62            1.34              1.23                 1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      69.80            57.90           51.28         50.55          60.78            67.07         69.77
      61.65            49.80           43.65         38.39          50.42            57.55         62.34
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      70.50            58.49           51.79         51.06          61.40            67.75         70.47
      62.27            50.31           44.09         38.78          50.93            58.13         62.97
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      99.49            82.53           73.09         72.06          86.64            95.60         99.45
      87.87            70.98           62.22         54.72          71.87            82.03         88.86
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
     108.10            89.68           79.42         78.30          94.14           103.88        108.06
      95.48            77.13           67.60         59.46          78.09            89.13         96.56
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      55.72            46.22           40.94         40.36          48.52            53.55         55.70
      49.22            39.76           34.85         30.65          40.25            45.94         49.77
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      52.82            43.82           38.81         38.26          46.00            50.76         52.80
      46.66            37.69           33.03         29.05          38.16            43.55         47.18
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
$           0    $           0    $         0   $         0   $           0    $         0   $           0
      61.90            51.35           45.48         44.83          53.91            59.48         61.88
      54.67            44.17           38.71         34.05          44.72            51.04         55.29
          1.72             1.62         1.34          1.23              1.50          1.76             1.82




    Mar              Apr              May           Jun           Jul              Aug           Sep
            0                0              0             0               0              0               0
            0                0              0             0               0              0               0
            0                0              0             0               0              0               0
      25.64            21.27           18.83         18.57          22.32            24.63         25.63
      22.64            18.29           16.03         14.10          18.52            21.14         22.90
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
$           0    $           0    $         0   $         0   $           0    $         0   $           0
    Mar              Apr              May           Jun           Jul              Aug           Sep
            0                0              0             0               0              0               0
            0                0              0             0               0              0               0
            0                0              0             0               0              0               0
      24.76            20.54           18.19         17.93          21.56            23.79         24.75
      21.87            17.66           15.48         13.62          17.88            20.41         22.11
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
$           0    $           0    $         0   $         0   $           0    $         0   $           0
    Mar              Apr              May           Jun           Jul              Aug           Sep
            0                0              0             0               0              0               0
            0                0              0             0               0              0               0
            0                0              0             0               0              0               0
      26.11            21.66           19.18         18.91          22.74            25.09         26.10
      23.07            18.63           16.33         14.36          18.86            21.53         23.32
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
$           0    $           0    $         0   $         0   $           0    $         0   $           0
    Mar              Apr              May           Jun           Jul              Aug           Sep
            0                0              0             0               0              0               0
            0                0              0             0               0              0               0
            0                0              0             0               0              0               0
      28.27            23.45           20.76         20.47          24.61            27.16         28.25
      24.97            20.17           17.68         15.55          20.42            23.31         25.25
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
$           0    $           0    $         0   $         0   $           0    $         0   $           0
    Mar              Apr              May           Jun           Jul              Aug           Sep
            0                0              0             0               0              0               0
            0                0              0             0               0              0               0
            0                0              0             0               0              0               0
      30.94            25.67           22.73         22.41          26.95            29.74         30.93
      27.33            22.08           19.35         17.02          22.35            25.51         27.64
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
$           0    $           0    $         0   $         0   $           0    $         0   $           0
    Mar              Apr              May           Jun           Jul              Aug           Sep
            0                0              0             0               0              0               0
            0                0              0             0               0              0               0
            0                0              0             0               0              0               0
      29.87            24.77           21.94         21.63          26.01            28.70         29.85
      26.38            21.31           18.68         16.43          21.57            24.63         26.68
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
$           0    $           0    $         0   $         0   $           0    $         0   $           0
    Mar              Apr              May           Jun           Jul              Aug           Sep
            0                0              0             0               0              0               0
            0                0              0             0               0              0               0
            0                0              0             0               0              0               0
      31.11            25.81           22.85         22.53          27.09            29.89         31.10
      27.48            22.20           19.45         17.11          22.47            25.65         27.79
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
$           0    $           0    $         0   $         0   $           0    $         0   $           0
    Mar              Apr              May           Jun           Jul              Aug           Sep
            0                0              0             0               0              0               0
            0                0              0             0               0              0               0
            0                0              0             0               0              0               0
      26.03            21.59           19.12         18.85          22.66            25.01         26.02
      22.99            18.57           16.28         14.31          18.80            21.46         23.25
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
$           0    $           0    $         0   $         0   $           0    $         0   $           0
    Mar              Apr              May           Jun           Jul              Aug           Sep
            0                0              0             0               0              0               0
            0                0              0             0               0              0               0
            0                0              0             0               0              0               0
      27.41            22.73           20.13         19.85          23.87            26.34         27.39
      24.21            19.55           17.14         15.07          19.80            22.60         24.48
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
$           0    $           0    $         0   $         0   $           0    $         0   $           0
    Mar              Apr              May           Jun           Jul              Aug           Sep
            0                0              0             0               0              0               0
              0                 0                 0                 0                 0                 0                 0
              0                 0                 0                 0                 0                 0                 0
        27.61             22.90             20.28             20.00             24.04             26.53             27.60
        24.39             19.70             17.27             15.19             19.94             22.76             24.66
         1.72              1.62              1.34              1.23              1.50              1.76              1.82
$             0   $             0   $             0   $             0   $             0   $             0   $             0




    FY 2010           FY 2011           FY 2012           FY 2013           FY 2014           FY 2015           FY 2016


       27.47             29.85            28.89             29.99              25.48             26.70             26.88
                                LV
$   1,575,470 $ 1,256,483   $        13,805   26.36
$     876,328                        45.10%
$     137,031




                                LV
$   1,581,772 $ 1,235,551   $        16,518   25.65
$     894,884                        43.55%
$     140,545




                                LV
$   1,604,698 $ 1,313,112   $        16,924   26.90
$     904,739                        45.94%
$     143,450




                                LV
$   1,626,405 $ 1,427,191   $        17,294   28.86
$     915,770                        49.72%
$     145,923




                                LV
$   1,643,831 $ 1,562,261   $        17,593   31.30
$     922,245                        54.43%
$     147,884
                                LV
$   1,697,181 $ 1,564,565   $        18,585   30.36
$     950,524                        52.53%
$     155,024




                                LV
$   1,707,394 $ 1,632,087   $        18,796   31.50
$     953,881                        54.72%
$     156,980




                                LV
$   1,732,688 $ 1,413,759   $        19,118   26.91
$     965,883                        45.78%
$     159,222




                                LV
$   1,758,238 $ 1,500,218   $        19,445   28.16
$     978,406                        48.21%
$     161,484




                                LV
$   1,758,238 $ 1,509,999   $        19,445   28.35
$     978,406                        48.57%
$     161,484




$   1,233,414 $ 1,418,042                     40.13
$     621,184                        70.08%
$     118,265
$   1,246,548 $ 1,432,282            40.05
$     628,271               70.03%
$     119,437




$   1,235,780 $ 1,535,625            43.28
$     623,644               76.25%
$     117,797




$   1,246,639 $ 1,593,472            44.52
$     629,713               78.56%
$     119,361




$   1,258,190 $ 1,684,015            46.52
$     636,233               82.54%
$     120,314




$   1,262,567 $ 1,685,902            46.18
$     641,083               82.29%
$     119,343




$   1,274,791 $ 1,741,261            47.21
$     647,661               84.34%
$     119,947
$   1,284,302 $ 1,724,463            46.40
$     652,929               82.75%
$     121,359




$   1,292,946 $ 1,782,396            47.61
$     657,821               85.10%
$     122,228




$   1,306,212 $ 1,809,460            47.84
$     664,571               85.55%
$     123,483




                                       -
$          0   $       0             31.45
$          0                57.63%
$          0




$          0   $       0             31.34
$          0                57.39%
$          0




$          0   $       0             34.50
$          0                63.64%
$   0




$   0   $   0            35.73
$   0           66.10%
$   0




$   0   $   0            37.64
$   0           69.88%
$   0




$   0   $   0            37.32
$   0           69.23%
$   0




$   0   $   0            38.29
$   0           71.15%
$   0




$   0   $   0            37.55
$   0           69.71%
$   0




$   0   $   0            38.71
$   0           71.99%
$   0




$   0   $   0             38.93
$   0           72.43%
$   0




                            -
$   0   $   0             43.00
$   0           80.52%
$   0




$   0   $   0             57.00
$   0           108.22%
$   0




$   0   $   0             68.45
$   0           130.91%
$   0
$   0   $   0             64.34
$   0           122.78%
$   0




$   0   $   0             64.98
$   0           124.02%
$   0




$   0   $   0             90.72
$   0           175.00%
$   0




$   0   $   0             98.36
$   0           190.16%
$   0




$   0   $   0             51.84
$   0           98.02%
$   0




$   0   $   0             49.27
$   0           92.92%
$   0
$   0   $      0              57.34
$   0               108.89%
$   0




    0       25.13




$   0


    0       24.35




$   0


    0       25.56     25.01




$   0


    0       27.47




$   0
    0   29.85




$   0


    0   28.89




$   0


    0   29.99




$   0


    0   25.48




$   0


    0   26.70




$   0
    0   26.88




$   0
                                                                    Ctrl "i"

                                                                    FY 2007              FY 2008


         1 IP Allocated Costs                                              0.0        0.0
         2 IP Revenues @ Net Margin                                  0.000502   0.000503
         3 adjustment                                                 0.01130    0.02298
         4 IP Marginal Cost Rate Revenues                             0.04628    0.04643
         5 Non-Slice PF Marginal Cost Rate Revenues                 2,588,829 2,617,201
         6 Non-Slice PF Allocated Energy Costs                      1,256,483 1,235,551
         7 Numerator: 1-2-3-((4/5)*6)                               (0.002558) (0.002003)
         8
         9 PF Allocation Factor for Delta                               5,600              5,643
        10 NR Allocation Factor for Delta                               0.000              0.000
        11 Total Allocation Factors for Delta                           5,600              5,643
        12 Denominator: 1.0 + ((9/11)*(4/5))                            1.0000             1.0000
        13
        14 DELTA: (7/12)                                                       (0)         (0.002)

                                                                            0.573           0.573
                                                                            0.573           0.573
                                                                            0.000           0.000
DSI Loads                 Oct           Nov           Dec             Jan                 Feb
     2007      HLH              0             0             0                   0                  0
                LLH             0             0             0                   0                  0
             Demand             0             0             0                   0                  0
               HLH $      28.64     $   30.55     $   31.88     $        27.07       $      27.64
                LLH $     20.98     $   22.28     $   23.39     $        19.58       $      19.77
             Demand $      1.91     $    2.04     $    2.14     $           1.82     $       1.85
PF rate revenues      $         0   $         0   $         0   $               0    $             0
        IP     HLH $      40.51     $   43.21     $   45.10     $        38.28       $      39.10
                LLH $     29.68     $   31.52     $   33.09     $        27.69       $      27.97
             Demand $      1.91     $    2.04     $    2.14     $           1.82     $       1.85
IP rate revenues      $         0   $         0   $         0   $               0    $             0


                          Oct           Nov           Dec             Jan                 Feb
     2008      HLH              0             0             0                   0                  0
                LLH             0             0             0                   0                  0
             Demand             0             0             0                   0                  0
               HLH $      27.68     $   29.53     $   30.82     $        26.16       $      26.72
                LLH $     20.28     $   21.54     $   22.61     $        18.92       $      19.11
             Demand $      1.91     $    2.04     $    2.14     $         1.82   $     1.85
PF rate revenues      $         0   $         0   $         0   $           0    $         0
        IP     HLH $      39.55     $   42.18     $   44.02     $     37.37      $    38.17
                LLH $     28.97     $   30.76     $   32.30     $     27.03      $    27.30
             Demand $      1.91     $    2.04     $    2.14     $         1.82   $     1.85
IP rate revenues      $         0   $         0   $         0   $           0    $         0


                          Oct           Nov           Dec           Jan              Feb
     2009      HLH              0             0             0                0             0
                LLH             0             0             0                0             0
             Demand             0             0             0                0             0
               HLH $      29.20     $   31.14     $   32.50     $     27.59      $    28.18
                LLH $     21.39     $   22.71     $   23.85     $     19.96      $    20.15
             Demand $      1.91     $    2.04     $    2.14     $         1.82   $     1.85
PF rate revenues      $         0   $         0   $         0   $           0    $         0
        IP     HLH $      41.06     $   43.80     $   45.71     $     38.80      $    39.63
                LLH $     30.08     $   31.94     $   33.54     $     28.06      $    28.34
             Demand $      1.91     $    2.04     $    2.14     $         1.82   $     1.85
IP rate revenues      $         0   $         0   $         0   $           0    $         0


                          Oct           Nov           Dec           Jan              Feb
     2010      HLH              0             0             0                0             0
                LLH             0             0             0                0             0
             Demand             0             0             0                0             0
               HLH $      31.60     $   33.71     $   35.18     $     29.86      $    30.50
                LLH $     23.15     $   24.58     $   25.81     $     21.60      $    21.81
             Demand $      1.91     $    2.04     $    2.14     $         1.82   $     1.85
PF rate revenues      $         0   $         0   $         0   $           0    $         0
        IP     HLH $      43.47     $   46.36     $   48.38     $     41.07      $    41.95
                LLH $     31.84     $   33.81     $   35.50     $     29.71      $    30.00
             Demand $      1.91     $    2.04     $    2.14     $         1.82   $     1.85
IP rate revenues      $         0   $         0   $         0   $           0    $         0


                          Oct           Nov           Dec           Jan              Feb
     2011      HLH              0             0             0                0             0
                LLH             0             0             0                0             0
             Demand             0             0             0                0             0
               HLH $      34.59     $   36.90     $   38.51     $     32.69      $    33.38
                LLH $     25.34     $   26.91     $   28.25     $     23.64      $    23.88
             Demand $      1.91     $    2.04     $    2.14     $         1.82   $     1.85
PF rate revenues      $         0   $         0   $         0   $           0    $         0
        IP     HLH $      46.46     $   49.55     $   51.71     $     43.90      $    44.83
                LLH $     34.03     $   36.14     $   37.94     $     31.75      $    32.07
             Demand $      1.91     $    2.04     $    2.14     $         1.82   $     1.85
IP rate revenues      $         0   $         0   $         0   $           0    $         0


                          Oct           Nov           Dec           Jan              Feb
     2012      HLH              0             0             0                0             0
                LLH             0             0             0                0             0
             Demand             0             0             0                0             0
               HLH $      33.40     $   35.62     $   37.18     $     31.56      $    32.23
                LLH $     24.47     $   25.98     $   27.28     $     22.83      $    23.05
             Demand $      1.91     $    2.04     $    2.14     $         1.82   $     1.85
PF rate revenues      $         0   $         0   $         0   $           0    $         0
        IP     HLH $      45.26     $   48.28     $   50.38     $     42.77      $    43.68
                LLH $     33.16     $   35.21     $   36.97     $     30.93      $    31.24
             Demand $      1.91     $    2.04     $    2.14     $         1.82   $     1.85
IP rate revenues      $         0   $         0   $         0   $           0    $         0


                          Oct           Nov           Dec           Jan              Feb
     2013      HLH              0             0             0                0             0
                LLH             0             0             0                0             0
             Demand             0             0             0                0             0
               HLH $      34.79     $   37.10     $   38.72     $     32.87      $    33.57
                LLH $     25.48     $   27.06     $   28.41     $     23.77      $    24.01
             Demand $      1.91     $    2.04     $    2.14     $         1.82   $     1.85
PF rate revenues      $         0   $         0   $         0   $           0    $         0
        IP     HLH $      46.65     $   49.76     $   51.93     $     44.08      $    45.02
                LLH $     34.18     $   36.29     $   38.10     $     31.88      $    32.20
             Demand $      1.91     $    2.04     $    2.14     $         1.82   $     1.85
IP rate revenues      $         0   $         0   $         0   $           0    $         0


                          Oct           Nov           Dec           Jan              Feb
     2014      HLH              0             0             0                0             0
                LLH             0             0             0                0             0
             Demand             0             0             0                0             0
               HLH $      29.10     $   31.04     $   32.39     $     27.50      $    28.08
                LLH $     21.32     $   22.64     $   23.77     $     19.89      $    20.09
             Demand $      1.91     $    2.04     $    2.14     $         1.82   $     1.85
PF rate revenues      $         0   $         0   $         0   $           0    $         0
        IP     HLH $      40.96     $   43.69     $   45.60     $     38.71      $    39.53
                LLH $     30.01     $   31.87     $   33.46     $     28.00      $    28.28
             Demand $      1.91     $    2.04     $    2.14     $         1.82   $     1.85
IP rate revenues      $         0   $         0   $         0   $           0    $         0
                          Oct           Nov           Dec            Jan               Feb
     2015      HLH              0             0             0                 0                 0
                LLH             0             0             0                 0                 0
             Demand             0             0             0                 0                 0
               HLH $      30.64     $   32.68     $   34.11     $        28.95    $      29.57
                LLH $     22.45     $   23.84     $   25.02     $        20.94    $      21.15
             Demand $      1.91     $    2.04     $    2.14     $          1.82   $       1.85
PF rate revenues      $         0   $         0   $         0   $             0   $             0
        IP     HLH $      42.50     $   45.34     $   47.31     $        40.16    $      41.02
                LLH $     31.14     $   33.06     $   34.71     $        29.05    $      29.34
             Demand $      1.91     $    2.04     $    2.14     $          1.82   $       1.85
IP rate revenues      $         0   $         0   $         0   $             0   $             0


                          Oct           Nov           Dec            Jan               Feb
     2016      HLH              0             0             0                 0                 0
                LLH             0             0             0                 0                 0
             Demand             0             0             0                 0                 0
               HLH $      30.87     $   32.92     $   34.36     $        29.17    $      29.79
                LLH $     22.61     $   24.01     $   25.21     $        21.10    $      21.31
             Demand $      1.91     $    2.04     $    2.14     $          1.82   $       1.85
PF rate revenues      $         0   $         0   $         0   $             0   $             0
        IP     HLH $      42.73     $   45.58     $   47.56     $        40.38    $      41.24
                LLH $     31.31     $   33.24     $   34.90     $        29.20    $      29.50
             Demand $      1.91     $    2.04     $    2.14     $          1.82   $       1.85
IP rate revenues      $         0   $         0   $         0   $             0   $             0




                                                                    FY 2007           FY 2008


                      UNBIFURCATED PF (flat)                            24.99            24.24
    FY 2009           FY 2010           FY 2011           FY 2012           FY 2013           FY 2014           FY 2015


       0.1        0.0        0.0        0.1        0.1       0.0                                                   0.0
 0.000502 0.000502     0.000502   0.000503   0.000502  0.000502                                              0.000502
  0.02912    0.02427    0.02326    0.04554    0.05135   0.00881                                               0.00552
  0.04630    0.04629    0.04630    0.04643    0.04630   0.04629                                               0.04630
2,652,887 2,688,098 2,713,959 2,802,729 2,818,255 2,857,793                                                 2,898,128
1,313,112 1,427,191 1,562,261 1,564,565 1,632,087 1,413,759                                                 1,500,218
(0.000282) (0.000863) (0.001263) (0.000717) (0.000831) 0.002465                                              0.002407

      5,734             5,809             5,862             6,036             6,086             6,171             6,257
      0.000             0.000             0.000             0.000             0.000             0.000             0.000
      5,734             5,809             5,862             6,036             6,086             6,171             6,257
      1.0000            1.0000            1.0000            1.0000            1.0000            1.0000            1.0000

      (0.000)           (0.001)           (0.001)           (0.001)           (0.001)            0.002             0.002

       0.573             0.573             0.573             0.573             0.573             0.573             0.573
       0.573             0.573             0.573             0.573             0.573             0.573             0.573
       0.000             0.000             0.000             0.000             0.000             0.000             0.000
     Mar                Apr              May               Jun                Jul              Aug               Sep
              0                 0                 0                 0                 0                 0                 0
              0                 0                 0                 0                 0                 0                 0
              0                 0                 0                 0                 0                 0                 0
$      25.64      $      24.06      $      20.10      $      18.19      $      22.41      $      26.24      $      27.09
$      18.80      $      17.29      $      13.89      $       9.66      $      16.40      $      19.47      $      21.74
$       1.72      $       1.62      $       1.34      $       1.23      $       1.50      $       1.76      $       1.82
$             0   $             0   $             0   $             0   $             0   $             0   $             0
$      36.27      $      34.04      $      28.43      $      25.73      $      31.70      $      37.12      $      38.32
$      26.59      $      24.46      $      19.65      $      13.66      $      23.20      $      27.53      $      30.75
$       1.72      $       1.62      $       1.34      $       1.23      $       1.50      $       1.76      $       1.82
$             0   $             0   $             0   $             0   $             0   $             0   $             0


     Mar                Apr              May               Jun                Jul              Aug               Sep
              0                 0                 0                 0                 0                 0                 0
              0                 0                 0                 0                 0                 0                 0
              0                 0                 0                 0                 0                 0                 0
$      24.78      $      23.26      $      19.43      $      17.58      $      21.66      $      25.36      $      26.18
$      18.17      $      16.72      $      13.43      $       9.34      $      15.86      $      18.81      $      21.01
$     1.72    $     1.62    $     1.34    $     1.23    $     1.50    $     1.76    $     1.82
$         0   $         0   $         0   $         0   $         0   $         0   $         0
$    35.40    $    33.22    $    27.76    $    25.12    $    30.94    $    36.23    $    37.41
$    25.95    $    23.88    $    19.18    $    13.34    $    22.65    $    26.88    $    30.02
$     1.72    $     1.62    $     1.34    $     1.23    $     1.50    $     1.76    $     1.82
$         0   $         0   $         0   $         0   $         0   $         0   $         0


    Mar           Apr           May           Jun           Jul           Aug           Sep
          0             0             0             0             0             0             0
          0             0             0             0             0             0             0
          0             0             0             0             0             0             0
$    26.14    $    24.53    $    20.49    $    18.55    $    22.84    $    26.75    $    27.62
$    19.16    $    17.63    $    14.16    $     9.85    $    16.72    $    19.84    $    22.16
$     1.72    $     1.62    $     1.34    $     1.23    $     1.50    $     1.76    $     1.82
$         0   $         0   $         0   $         0   $         0   $         0   $         0
$    36.76    $    34.50    $    28.82    $    26.08    $    32.13    $    37.62    $    38.84
$    26.95    $    24.79    $    19.92    $    13.85    $    23.52    $    27.91    $    31.16
$     1.72    $     1.62    $     1.34    $     1.23    $     1.50    $     1.76    $     1.82
$         0   $         0   $         0   $         0   $         0   $         0   $         0


    Mar           Apr           May           Jun           Jul           Aug           Sep
          0             0             0             0             0             0             0
          0             0             0             0             0             0             0
          0             0             0             0             0             0             0
$    28.29    $    26.55    $    22.18    $    20.07    $    24.72    $    28.95    $    29.89
$    20.74    $    19.08    $    15.33    $    10.66    $    18.10    $    21.48    $    23.98
$     1.72    $     1.62    $     1.34    $     1.23    $     1.50    $     1.76    $     1.82
$         0   $         0   $         0   $         0   $         0   $         0   $         0
$    38.91    $    36.52    $    30.50    $    27.61    $    34.01    $    39.82    $    41.11
$    28.52    $    26.24    $    21.08    $    14.66    $    24.89    $    29.54    $    32.99
$     1.72    $     1.62    $     1.34    $     1.23    $     1.50    $     1.76    $     1.82
$         0   $         0   $         0   $         0   $         0   $         0   $         0


    Mar           Apr           May           Jun           Jul           Aug           Sep
          0             0             0             0             0             0             0
          0             0             0             0             0             0             0
          0             0             0             0             0             0             0
$    30.97    $    29.06    $    24.28    $    21.97    $    27.06    $    31.69    $    32.72
$    22.70    $    20.89    $    16.78    $    11.67    $    19.81    $    23.51    $    26.25
$     1.72    $     1.62    $     1.34    $     1.23    $     1.50    $     1.76    $     1.82
$         0   $         0   $         0   $         0   $         0   $         0   $         0
$    41.59    $    39.03    $    32.60    $    29.51    $    36.35    $    42.56    $    43.94
$    30.48    $    28.05    $    22.53    $    15.67    $    26.61    $    31.57    $    35.26
$     1.72    $     1.62    $     1.34    $     1.23    $     1.50    $     1.76    $     1.82
$         0   $         0   $         0   $         0   $         0   $         0   $         0


    Mar           Apr           May           Jun           Jul           Aug           Sep
          0             0             0             0             0             0             0
          0             0             0             0             0             0             0
          0             0             0             0             0             0             0
$    29.90    $    28.06    $    23.44    $    21.21    $    26.13    $    30.60    $    31.59
$    21.92    $    20.17    $    16.20    $    11.27    $    19.13    $    22.70    $    25.35
$     1.72    $     1.62    $     1.34    $     1.23    $     1.50    $     1.76    $     1.82
$         0   $         0   $         0   $         0   $         0   $         0   $         0
$    40.52    $    38.03    $    31.77    $    28.75    $    35.41    $    41.47    $    42.81
$    29.70    $    27.33    $    21.95    $    15.27    $    25.92    $    30.76    $    34.35
$     1.72    $     1.62    $     1.34    $     1.23    $     1.50    $     1.76    $     1.82
$         0   $         0   $         0   $         0   $         0   $         0   $         0


    Mar           Apr           May           Jun           Jul           Aug           Sep
          0             0             0             0             0             0             0
          0             0             0             0             0             0             0
          0             0             0             0             0             0             0
$    31.14    $    29.22    $    24.41    $    22.10    $    27.22    $    31.87    $    32.90
$    22.83    $    21.00    $    16.87    $    11.73    $    19.92    $    23.64    $    26.40
$     1.72    $     1.62    $     1.34    $     1.23    $     1.50    $     1.76    $     1.82
$         0   $         0   $         0   $         0   $         0   $         0   $         0
$    41.76    $    39.19    $    32.74    $    29.63    $    36.50    $    42.74    $    44.12
$    30.61    $    28.17    $    22.63    $    15.73    $    26.72    $    31.70    $    35.41
$     1.72    $     1.62    $     1.34    $     1.23    $     1.50    $     1.76    $     1.82
$         0   $         0   $         0   $         0   $         0   $         0   $         0


    Mar           Apr           May           Jun           Jul           Aug           Sep
          0             0             0             0             0             0             0
          0             0             0             0             0             0             0
          0             0             0             0             0             0             0
$    26.05    $    24.45    $    20.42    $    18.48    $    22.77    $    26.66    $    27.52
$    19.10    $    17.57    $    14.11    $     9.81    $    16.67    $    19.78    $    22.09
$     1.72    $     1.62    $     1.34    $     1.23    $     1.50    $     1.76    $     1.82
$         0   $         0   $         0   $         0   $         0   $         0   $         0
$    36.67    $    34.41    $    28.75    $    26.02    $    32.05    $    37.53    $    38.74
$    26.88    $    24.73    $    19.87    $    13.82    $    23.46    $    27.84    $    31.09
$     1.72    $     1.62    $     1.34    $     1.23    $     1.50    $     1.76    $     1.82
$         0   $         0   $         0   $         0   $         0   $         0   $         0
     Mar                Apr              May               Jun                Jul              Aug               Sep
              0                 0                 0                 0                 0                 0                 0
              0                 0                 0                 0                 0                 0                 0
              0                 0                 0                 0                 0                 0                 0
$      27.43      $      25.74      $      21.50      $      19.46      $      23.97      $      28.07      $      28.98
$      20.11      $      18.50      $      14.86      $      10.33      $      17.55      $      20.82      $      23.26
$       1.72      $       1.62      $       1.34      $       1.23      $       1.50      $       1.76      $       1.82
$             0   $             0   $             0   $             0   $             0   $             0   $             0
$      38.05      $      35.71      $      29.83      $      27.00      $      33.25      $      38.94      $      40.20
$      27.89      $      25.66      $      20.62      $      14.34      $      24.34      $      28.89      $      32.26
$       1.72      $       1.62      $       1.34      $       1.23      $       1.50      $       1.76      $       1.82
$             0   $             0   $             0   $             0   $             0   $             0   $             0


     Mar                Apr              May               Jun                Jul              Aug               Sep
              0                 0                 0                 0                 0                 0                 0
              0                 0                 0                 0                 0                 0                 0
              0                 0                 0                 0                 0                 0                 0
$      27.63      $      25.93      $      21.66      $      19.61      $      24.15      $      28.28      $      29.20
$      20.26      $      18.64      $      14.97      $      10.41      $      17.68      $      20.98      $      23.43
$       1.72      $       1.62      $       1.34      $       1.23      $       1.50      $       1.76      $       1.82
$             0   $             0   $             0   $             0   $             0   $             0   $             0
$      38.25      $      35.90      $      29.99      $      27.14      $      33.43      $      39.15      $      40.42
$      28.04      $      25.80      $      20.73      $      14.41      $      24.47      $      29.04      $      32.43
$       1.72      $       1.62      $       1.34      $       1.23      $       1.50      $       1.76      $       1.82
$             0   $             0   $             0   $             0   $             0   $             0   $             0




    FY 2009           FY 2010           FY 2011           FY 2012           FY 2013           FY 2014           FY 2015


       25.44             27.34             29.71             28.76             29.86             25.36             26.58
    FY 2016


       0.0                     0.019905
 0.000503
  0.01246
  0.04643                     0.0224629
2,898,128
1,509,999
 0.002460                     (0.002558)

      6,240
      0.000
      6,240
      1.0000

       0.002

       0.573
       0.573
       0.000

              0




$             0   $   24.99




$             0       34.37
                       0.57   $    8.80

              0
$   0   $   24.24




$   0       33.62
             0.57   $   8.80

    0




$   0   $   25.44




$   0       34.82
             0.57   $   8.80

    0




$   0   $   27.34




$   0       36.72
             0.57   $   8.80

    0




$   0   $   29.71
$   0       39.08
             0.57   $   8.80

    0




$   0   $   28.76




$   0       38.14
             0.57   $   8.80

    0




$   0   $   29.86




$   0       39.24
             0.57   $   8.80

    0




$   0   $   25.36




$   0       34.74
                       0.57   $   8.80

              0




$             0   $   26.58




$             0       35.96
                       0.57   $   8.80

              0




$             0   $   26.76




$             0       36.13
                       0.57   $   8.80


    FY 2016


       26.76
   LEVELIZED MARGINAL COSTS OF POWER
                                 OCT            NOV            DEC               JAN            FEB
   Energy Mills/kwh
                        HLH      33.77          36.02          37.59             31.91          32.59
                        LLH      24.74          26.27          27.58             23.08          23.31
MONTHLY DEMAND                   1.91           2.04           2.14              1.82           1.85


   PF Preference                 Oct            Nov            Dec               Jan            Feb
             2007       HLH $     76,220    $    89,396    $   105,060       $    92,570    $    84,202
                         LLH $    35,815    $    43,868    $    53,415       $    43,879    $    38,032
                      Demand $    12,232    $    14,532    $    16,272       $    14,533    $    14,444
                        HLH        28.64           30.55          31.88            27.07           27.64
                         LLH       20.98           22.28          23.39            19.58           19.77
                      Demand         1.91           2.04              2.14           1.82              1.85
                                 Oct            Nov            Dec               Jan            Feb
             2008       HLH $     77,247    $    90,214    $   102,871       $    91,713    $    86,866
                         LLH $    34,193    $    43,573    $    55,373       $    44,427    $    40,352
                      Demand $    12,523    $    14,977    $    16,748       $    14,903    $    14,863
                        HLH        27.68           29.53          30.82            26.16           26.72
                         LLH       20.28           21.54          22.61            18.92           19.11
                      Demand         1.91           2.04              2.14           1.82              1.85
                                 Oct            Nov            Dec               Jan            Feb
             2009       HLH $     77,926    $    89,206    $   109,288       $    93,238    $    84,667
                         LLH $    35,228    $    46,189    $    52,943       $    45,230    $    39,816
                      Demand $    12,786    $    15,324    $    17,046       $    15,212    $    15,182
                        HLH        29.20           31.14          32.50            27.59           28.18
                         LLH       21.39           22.71          23.85            19.96           20.15
                      Demand         1.91           2.04              2.14           1.82              1.85
                                 Oct            Nov            Dec               Jan            Feb
             2010       HLH $     78,986    $    90,473    $   110,826       $    93,059    $    85,958
                         LLH $    35,645    $    46,726    $    53,572       $    46,851    $    40,215
                      Demand $    13,015    $    15,590    $    17,339       $    15,471    $    15,442
                        HLH        31.60           33.71          35.18            29.86           30.50
                         LLH       23.15           24.58          25.81            21.60           21.81
                      Demand         1.91           2.04              2.14           1.82              1.85
                                 Oct            Nov            Dec               Jan            Feb
             2011       HLH $     78,684    $    93,047    $   111,884       $    94,069    $    86,854
                         LLH $    36,712    $    45,921    $    54,113       $    47,229    $    40,561
                      Demand $    13,226    $    15,767    $    17,578       $    15,683    $    15,653
                        HLH        34.59           36.90          38.51            32.69           33.38
                         LLH       25.34           26.91          28.25            23.64           23.88
                      Demand         1.91           2.04              2.14           1.82              1.85
                          Oct          Nov          Dec              Jan          Feb
        2012     HLH $    80,734   $   95,578   $   114,705      $   96,749   $   93,066
                  LLH $   37,521   $   46,897   $    55,209      $   48,262   $   42,803
               Demand $   13,819   $   16,516   $    18,319      $   16,374   $   16,384
                 HLH       33.40        35.62         37.18           31.56         32.23
                  LLH      24.47        25.98         27.28           22.83         23.05
               Demand       1.91         2.04             2.14         1.82             1.85
                          Oct          Nov          Dec              Jan          Feb
        2013     HLH $    82,177   $   96,222   $   113,827      $   99,282   $   90,508
                  LLH $   36,918   $   47,050   $    56,599      $   47,670   $   42,142
               Demand $   13,971   $   16,694   $    18,517      $   16,602   $   16,608
                 HLH       34.79        37.10         38.72           32.87         33.57
                  LLH      25.48        27.06         28.41           23.77         24.01
               Demand       1.91         2.04             2.14         1.82             1.85
                          Oct          Nov          Dec              Jan          Feb
        2014     HLH $    83,378   $   97,706   $   115,542      $ 100,729    $   91,740
                  LLH $   37,444   $   47,655   $    57,323      $   48,283   $   42,656
               Demand $   14,180   $   16,940   $    18,791      $   16,842   $   16,847
                 HLH       29.10        31.04         32.39           27.50         28.08
                  LLH      21.32        22.64         23.77           19.89         20.09
               Demand       1.91         2.04             2.14         1.82             1.85
                          Oct          Nov          Dec              Jan          Feb
        2015     HLH $    84,580   $   97,741   $   118,942      $ 102,208    $   93,127
                  LLH $   37,969   $   49,260   $    56,849      $   48,909   $   43,249
               Demand $   14,389   $   17,186   $    19,067      $   17,085   $   17,091
                 HLH       30.64        32.68         34.11           28.95         29.57
                  LLH      22.45        23.84         25.02           20.94         21.15
               Demand       1.91         2.04             2.14         1.82             1.85
                          Oct          Nov          Dec              Jan          Feb
        2016     HLH $    84,580   $   97,741   $   118,942      $ 102,208    $   93,127
                  LLH $   37,969   $   49,260   $    56,849      $   48,909   $   43,249
               Demand $   14,389   $   17,186   $    19,067      $   17,085   $   17,091
                 HLH       30.87        32.92         34.36           29.17         29.79
                  LLH      22.61        24.01         25.21           21.10         21.31
               Demand       1.91         2.04             2.14         1.82             1.85



PF Exchange               Oct          Nov          Dec              Jan          Feb
        2007     HLH $    54,723   $   66,394   $    89,244      $   83,683   $   80,180
                  LLH $   24,250   $   27,840   $    36,808      $   39,726   $   36,378
               Demand $   10,289   $   11,629   $    15,475      $   14,927   $   14,659
                 HLH       44.35        47.31         49.37           41.91         42.80
          LLH      32.49        34.50         36.22           30.31         30.62
       Demand       1.91         2.04             2.14         1.82             1.85
                  Oct          Nov          Dec              Jan          Feb
2008     HLH $    55,073   $   66,709   $   89,541       $   83,700   $   80,249
          LLH $   24,437   $   28,004   $   36,963       $   39,753   $   36,428
       Demand $   10,341   $   11,678   $   15,519       $   14,927   $   14,670
         HLH       44.32        47.27         49.33           41.88         42.77
          LLH      32.47        34.48         36.20           30.29         30.59
       Demand       1.91         2.04             2.14         1.82             1.85
                  Oct          Nov          Dec              Jan          Feb
2009     HLH $    54,888   $   66,325   $   88,621       $   83,153   $   78,250
          LLH $   24,404   $   27,896   $   36,636       $   39,527   $   35,540
       Demand $   10,292   $   11,603   $   15,364       $   14,820   $   13,771
         HLH       48.25        51.47         53.71           45.60         46.57
          LLH      35.35        37.54         39.41           32.98         33.31
       Demand       1.91         2.04             2.14         1.82             1.85
                  Oct          Nov          Dec              Jan          Feb
2010     HLH $    55,647   $   67,186   $   89,614       $   83,253   $   79,860
          LLH $   24,774   $   28,295   $   37,083       $   39,592   $   36,299
       Demand $   10,425   $   11,749   $   15,516       $   14,838   $   14,591
         HLH       49.72        53.03         55.34           46.98         47.98
          LLH      36.42        38.67         40.60           33.98         34.32
       Demand       1.91         2.04             2.14         1.82             1.85
                  Oct          Nov          Dec              Jan          Feb
2011     HLH $    54,626   $   67,508   $   89,826       $   83,240   $   79,780
          LLH $   24,341   $   28,480   $   37,224       $   39,612   $   36,289
       Demand $   10,230   $   11,796   $   15,542       $   14,825   $   14,600
         HLH       52.26        55.74         58.17           49.38         50.43
          LLH      38.29        40.65         42.68           35.72         36.07
       Demand       1.91         2.04             2.14         1.82             1.85
                  Oct          Nov          Dec              Jan          Feb
2012     HLH $    56,713   $   67,793   $   89,019       $   81,308   $   77,499
          LLH $   25,449   $   28,775   $   37,074       $   38,763   $   35,330
       Demand $   10,436   $   11,703   $   15,235       $   14,345   $   14,047
         HLH       52.11        55.59         58.01           49.24         50.29
          LLH      38.18        40.54         42.56           35.62         35.97
       Demand       1.91         2.04             2.14         1.82             1.85
                  Oct          Nov          Dec              Jan          Feb
2013     HLH $    57,184   $   68,364   $   89,700       $   82,185   $   77,474
          LLH $   25,681   $   29,040   $   37,381       $   39,197   $   35,328
       Demand $   10,519   $   11,799   $   15,349       $   14,496   $   13,524
         HLH       53.41        56.97         59.45           50.47         51.54
               LLH      39.13         41.55          43.62           36.50          36.87
            Demand       1.91          2.04              2.14         1.82              1.85
                       Oct           Nov           Dec              Jan           Feb
     2014     HLH $    57,993    $   69,311    $   90,804       $   82,313    $   78,539
               LLH $   26,070    $   29,472    $   37,873       $   39,270    $   35,832
            Demand $   10,660    $   11,959    $   15,533       $   14,517    $   14,232
              HLH       52.40         55.90          58.33           49.52          50.57
               LLH      38.39         40.77          42.80           35.82          36.17
            Demand       1.91          2.04              2.14         1.82              1.85
                       Oct           Nov           Dec              Jan           Feb
     2015     HLH $    57,794    $   69,564    $   90,966       $   82,721    $   78,936
               LLH $   26,000    $   29,609    $   37,972       $   39,483    $   36,031
            Demand $   10,608    $   11,990    $   15,546       $   14,575    $   14,294
              HLH       53.90         57.49          60.00           50.93          52.01
               LLH      39.49         41.93          44.02           36.84          37.20
            Demand       1.91          2.04              2.14         1.82              1.85
                       Oct           Nov           Dec              Jan           Feb
     2016     HLH $    58,387    $   70,277    $   91,900       $   83,569    $   79,746
               LLH $   26,266    $   29,913    $   38,362       $   39,888    $   36,401
            Demand $   10,717    $   12,113    $   15,706       $   14,725    $   14,440
              HLH       54.18         57.79          60.31           51.20          52.29
               LLH      39.69         42.15          44.25           37.03          37.40
            Demand       1.91          2.04              2.14         1.82              1.85



IP                     Oct           Nov           Dec              Jan           Feb
     2007     HLH $          0   $         0   $           0    $         0   $           0
               LLH $         0   $         0   $           0    $         0   $           0
            Demand $         0   $         0   $           0    $         0   $           0
              HLH       40.51         43.21          45.10           38.28          39.10
               LLH      29.68         31.52          33.09           27.69          27.97
            Demand       1.91          2.04              2.14         1.82              1.85
                       Oct           Nov           Dec              Jan           Feb
     2008     HLH $          0   $         0   $           0    $         0   $           0
               LLH $         0   $         0   $           0    $         0   $           0
            Demand $         0   $         0   $           0    $         0   $           0
              HLH       39.55         42.18          44.02           37.37          38.17
               LLH      28.97         30.76          32.30           27.03          27.30
            Demand       1.91          2.04              2.14         1.82              1.85
                       Oct           Nov           Dec              Jan           Feb
     2009     HLH $          0   $         0   $           0    $         0   $           0
               LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       41.06         43.80          45.71           38.80          39.63
          LLH      30.08         31.94          33.54           28.06          28.34
       Demand       1.91          2.04              2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2010     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       43.47         46.36          48.38           41.07          41.95
          LLH      31.84         33.81          35.50           29.71          30.00
       Demand       1.91          2.04              2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2011     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       46.46         49.55          51.71           43.90          44.83
          LLH      34.03         36.14          37.94           31.75          32.07
       Demand       1.91          2.04              2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2012     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       45.26         48.28          50.38           42.77          43.68
          LLH      33.16         35.21          36.97           30.93          31.24
       Demand       1.91          2.04              2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2013     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       46.65         49.76          51.93           44.08          45.02
          LLH      34.18         36.29          38.10           31.88          32.20
       Demand       1.91          2.04              2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2014     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       40.96         43.69          45.60           38.71          39.53
          LLH      30.01         31.87          33.46           28.00          28.28
       Demand       1.91          2.04              2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2015     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
                        Demand $         0   $             0   $             0   $          0    $             0
                           HLH      42.50            45.34             47.31             40.16           41.02
                           LLH      31.14            33.06             34.71             29.05           29.34
                        Demand       1.91             2.04                2.14            1.82              1.85
                                   Oct            Nov               Dec               Jan             Feb
           2016            HLH $         0   $             0   $             0   $          0    $             0
                           LLH $         0   $             0   $             0   $          0    $             0
                        Demand $         0   $             0   $             0   $          0    $             0
                           HLH      42.73            45.58             47.56             40.38           41.24
                           LLH      31.31            33.24             34.90             29.20           29.50
                        Demand       1.91             2.04                2.14            1.82              1.85

                                 FY 2007         FY 2008           FY 2009           FY 2010         FY 2011
PF Preference                       26.36           25.65             26.90             28.86            31.30
PF Exchange       undelivered       40.13           40.05             43.28             44.52            46.52
                  transmission       4.26            4.26              4.26              4.26             4.26
PF Exchange       delivered         44.39           44.31             47.54             48.78            50.78

      IP                           34.37           33.62              34.82            36.72            39.08
     NR                            43.00           57.00              68.45            64.34            64.98

     NR                            Oct            Nov               Dec               Jan             Feb
           2007            HLH $         0   $             0   $             0   $          0    $             0
                           LLH $         0   $             0   $             0   $          0    $             0
                        Demand $         0   $             0   $             0   $          0    $             0
                           HLH      51.44            54.87             57.26             48.61           49.64
                           LLH      37.69            40.02             42.01             35.16           35.51
                        Demand       1.91             2.04                2.14            1.82              1.85
                                   Oct            Nov               Dec               Jan             Feb
           2008            HLH $         0   $             0   $             0   $          0    $             0
                           LLH $         0   $             0   $             0   $          0    $             0
                        Demand $         0   $             0   $             0   $          0    $             0
                           HLH      69.14            73.74             76.96             65.33           66.72
                           LLH      50.65            53.78             56.46             47.25           47.72
                        Demand       1.91             2.04                2.14            1.82              1.85
                                   Oct            Nov               Dec               Jan             Feb
           2009            HLH $         0   $             0   $             0   $          0    $             0
                           LLH $         0   $             0   $             0   $          0    $             0
                        Demand $         0   $             0   $             0   $          0    $             0
                           HLH      83.62            89.19             93.08             79.01           80.70
                           LLH      61.26            65.05             68.29             57.15           57.72
                        Demand       1.91             2.04                2.14            1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2010     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       78.42          83.65         87.29           74.10          75.68
          LLH      57.45          61.01         64.05           53.60          54.13
       Demand       1.91           2.04             2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2011     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       79.22          84.49         88.18           74.85          76.45
          LLH      58.03          61.62         64.70           54.14          54.68
       Demand       1.91           2.04             2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2012     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH      111.80         119.25        124.45          105.64         107.89
          LLH      81.90          86.97         91.31           76.41          77.17
       Demand       1.91           2.04             2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2013     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH      121.47         129.56        135.21          114.78         117.22
          LLH      88.99          94.49         99.20           83.02          83.84
       Demand       1.91           2.04             2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2014     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       62.61          66.78         69.69           59.16          60.42
          LLH      45.87          48.70         51.13           42.79          43.22
       Demand       1.91           2.04             2.14         1.82              1.85
                  Oct           Nov           Dec              Jan           Feb
2015     HLH $          0   $         0   $           0    $         0   $           0
          LLH $         0   $         0   $           0    $         0   $           0
       Demand $         0   $         0   $           0    $         0   $           0
         HLH       59.35          63.31         66.06           56.08          57.28
          LLH      43.48          46.17         48.47           40.56          40.97
       Demand       1.91           2.04             2.14         1.82              1.85
                                    Oct           Nov           Dec              Jan           Feb
          2016           HLH $            0   $         0   $           0    $         0   $           0
                          LLH $           0   $         0   $           0    $         0   $           0
                       Demand $           0   $         0   $           0    $         0   $           0
                         HLH         69.56         74.20          77.43           65.73          67.13
                          LLH        50.96         54.11          56.81           47.54          48.02
                       Demand         1.91          2.04              2.14         1.82              1.85




PF Preference (flat)                Oct           Nov           Dec              Jan           Feb
          2007           HLH              0             0               0              0               0
                          LLH             0             0               0              0               0
                       Demand             0             0               0              0               0
                         HLH         28.64         30.55          31.88           27.07          27.64
                          LLH        20.98         22.28          23.39           19.58          19.77
                       Demand         1.91          2.04              2.14         1.82              1.85
                                $         0   $         0   $           0    $         0   $           0
                                    Oct           Nov           Dec              Jan           Feb
          2008           HLH              0             0               0              0               0
                          LLH             0             0               0              0               0
                       Demand             0             0               0              0               0
                         HLH         27.68         29.53          30.82           26.16          26.72
                          LLH        20.28         21.54          22.61           18.92          19.11
                       Demand         1.91          2.04              2.14         1.82              1.85
                                $         0   $         0   $           0    $         0   $           0
                                    Oct           Nov           Dec              Jan           Feb
          2009           HLH              0             0               0              0               0
                          LLH             0             0               0              0               0
                       Demand             0             0               0              0               0
                         HLH         29.20         31.14          32.50           27.59          28.18
                          LLH        21.39         22.71          23.85           19.96          20.15
                       Demand         1.91          2.04              2.14         1.82              1.85
                                $         0   $         0   $           0    $         0   $           0
                                    Oct           Nov           Dec              Jan           Feb
          2010           HLH              0             0               0              0               0
                          LLH             0             0               0              0               0
                       Demand             0             0               0              0               0
                         HLH         31.60         33.71          35.18           29.86          30.50
                          LLH        23.15         24.58          25.81           21.60          21.81
                       Demand         1.91          2.04              2.14         1.82              1.85
                                $         0   $         0   $           0    $         0   $           0
                    Oct           Nov           Dec              Jan           Feb
2011     HLH              0             0               0              0               0
          LLH             0             0               0              0               0
       Demand             0             0               0              0               0
         HLH         34.59         36.90          38.51           32.69          33.38
          LLH        25.34         26.91          28.25           23.64          23.88
       Demand         1.91          2.04              2.14         1.82              1.85
                $         0   $         0   $           0    $         0   $           0
                    Oct           Nov           Dec              Jan           Feb
2012     HLH              0             0               0              0               0
          LLH             0             0               0              0               0
       Demand             0             0               0              0               0
         HLH         33.40         35.62          37.18           31.56          32.23
          LLH        24.47         25.98          27.28           22.83          23.05
       Demand         1.91          2.04              2.14         1.82              1.85
                $         0   $         0   $           0    $         0   $           0
                    Oct           Nov           Dec              Jan           Feb
2013     HLH              0             0               0              0               0
          LLH             0             0               0              0               0
       Demand             0             0               0              0               0
         HLH         34.79         37.10          38.72           32.87          33.57
          LLH        25.48         27.06          28.41           23.77          24.01
       Demand         1.91          2.04              2.14         1.82              1.85
                $         0   $         0   $           0    $         0   $           0
                    Oct           Nov           Dec              Jan           Feb
2014     HLH              0             0               0              0               0
          LLH             0             0               0              0               0
       Demand             0             0               0              0               0
         HLH         29.10         31.04          32.39           27.50          28.08
          LLH        21.32         22.64          23.77           19.89          20.09
       Demand         1.91          2.04              2.14         1.82              1.85
                $         0   $         0   $           0    $         0   $           0
                    Oct           Nov           Dec              Jan           Feb
2015     HLH              0             0               0              0               0
          LLH             0             0               0              0               0
       Demand             0             0               0              0               0
         HLH         30.64         32.68          34.11           28.95          29.57
          LLH        22.45         23.84          25.02           20.94          21.15
       Demand         1.91          2.04              2.14         1.82              1.85
                $         0   $         0   $           0    $         0   $           0
                    Oct           Nov           Dec              Jan           Feb
2016     HLH              0             0               0              0               0
         LLH          0           0                  0                 0                 0
      Demand          0           0                  0                 0                 0
         HLH       30.87       32.92           34.36             29.17             29.79
         LLH       22.61       24.01           25.21             21.10             21.31
      Demand        1.91        2.04            2.14              1.82              1.85
               $      0    $      0    $             0   $          0      $             0




                                           FY 2007           FY 2008           FY 2009


Flat PF preference rate                       24.99            24.24              25.44


                                                                                  24.89
    MAR               APR               MAY            JUN            JUL               AUG            SEP


    30.23             28.37             23.70          21.45          26.42             30.94          31.94
    22.16             20.39             16.38          11.39          19.34             22.95          25.63
    1.72              1.62              1.34           1.23           1.50              1.76           1.82


    Mar               Apr               May            Jun             Jul              Aug            Sep
$    79,454       $    63,482       $    52,451    $    45,468    $    59,174       $    71,933    $    65,559
$    36,074       $    29,092       $    24,317    $    15,210    $    29,163       $    32,334    $    37,351
$    12,068       $     9,967       $     7,524    $     6,611    $     8,757       $     9,999    $    10,092
       25.64             24.06             20.10          18.19          22.41             26.24          27.09
       18.80             17.29             13.89           9.66          16.40             19.47          21.74
           1.72              1.62           1.34           1.23              1.50           1.76              1.82
    Mar               Apr               May            Jun             Jul              Aug            Sep
$    77,740       $    63,984       $    51,275    $    45,776    $    60,476       $    72,083    $    68,374
$    37,522       $    29,470       $    23,954    $    15,802    $    30,008       $    34,533    $    37,713
$    12,408       $    10,181       $     7,612    $     6,833    $     8,899       $    10,214    $    10,383
       24.78             23.26             19.43          17.58          21.66             25.36          26.18
       18.17             16.72             13.43           9.34          15.86             18.81          21.01
           1.72              1.62           1.34           1.23              1.50           1.76              1.82
    Mar               Apr               May            Jun             Jul              Aug            Sep
$    79,163       $    65,048       $    51,469    $    47,191    $    61,436       $    73,334    $    69,494
$    38,105       $    29,914       $    24,795    $    15,704    $    30,554       $    35,044    $    38,255
$    12,657       $    10,387       $     7,786    $     6,960    $     9,091       $    10,428    $    10,591
       26.14             24.53             20.49          18.55          22.84             26.75          27.62
       19.16             17.63             14.16           9.85          16.72             19.84          22.16
           1.72              1.62           1.34           1.23              1.50           1.76              1.82
    Mar               Apr               May            Jun             Jul              Aug            Sep
$    81,458       $    65,826       $    52,173    $    47,833    $    62,264       $    74,371    $    70,410
$    37,634       $    30,350       $    25,084    $    15,898    $    30,932       $    35,483    $    38,694
$    12,871       $    10,567       $     7,921    $     7,082    $     9,249       $    10,606    $    10,770
       28.29             26.55             22.18          20.07          24.72             28.95          29.89
       20.74             19.08             15.33          10.66          18.10             21.48          23.98
           1.72              1.62           1.34           1.23              1.50           1.76              1.82
    Mar               Apr               May            Jun             Jul              Aug            Sep
$    82,261       $    66,488       $    52,698    $    48,298    $    62,153       $    75,965    $    70,973
$    37,926       $    30,600       $    25,276    $    16,028    $    31,751       $    34,996    $    39,066
$    13,044       $    10,714       $     8,028    $     7,175    $     9,392       $    10,717    $    10,908
       30.97             29.06             24.28          21.97          27.06             31.69          32.72
       22.70             20.89             16.78          11.67          19.81             23.51          26.25
           1.72              1.62           1.34           1.23              1.50           1.76              1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   84,037       $   67,120       $   54,804   $   51,694   $   64,266       $   78,283    $   71,977
$   38,653       $   31,862       $   25,362   $   17,365   $   32,653       $   35,939    $   40,847
$   13,590       $   11,187       $    8,666   $    7,550   $    9,870       $   11,331    $   11,417
      29.90            28.06           23.44        21.21         26.13            30.60         31.59
      21.92            20.17           16.20        11.27         19.13            22.70         25.35
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   83,743       $   68,735       $   55,363   $   51,715   $   65,573       $   79,084    $   72,702
$   39,804       $   31,495       $   25,572   $   17,779   $   32,423       $   36,227    $   41,158
$   13,775       $   11,342       $    8,780   $    7,651   $    9,999       $   11,476    $   11,566
      31.14            29.22           24.41        22.10         27.22            31.87         32.90
      22.83            21.00           16.87        11.73         19.92            23.64         26.40
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   84,947       $   69,752       $   56,170   $   52,435   $   66,477       $   79,447    $   74,821
$   40,303       $   31,922       $   25,913   $   18,006   $   32,876       $   37,309    $   40,848
$   13,972       $   11,505       $    8,900   $    7,757   $   10,136       $   11,632    $   11,721
      26.05            24.45           20.42        18.48         22.77            26.66         27.52
      19.10            17.57           14.11         9.81         16.67            19.78         22.09
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   86,168       $   70,784       $   56,344   $   53,656   $   67,402       $   80,608    $   75,888
$   40,807       $   32,354       $   26,706   $   17,963   $   33,340       $   37,791    $   41,377
$   14,169       $   11,672       $    9,022   $    7,863   $   10,273       $   11,788    $   11,879
      27.43            25.74           21.50        19.46         23.97            28.07         28.98
      20.11            18.50           14.86        10.33         17.55            20.82         23.26
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   86,168       $   70,784       $   56,344   $   53,656   $   67,402       $   80,608    $   75,888
$   40,807       $   32,354       $   26,706   $   17,963   $   33,340       $   37,791    $   41,377
$   14,169       $   11,672       $    9,022   $    7,863   $   10,273       $   11,788    $   11,879
      27.63            25.93           21.66        19.61         24.15            28.28         29.20
      20.26            18.64           14.97        10.41         17.68            20.98         23.43
          1.72             1.62         1.34         1.23             1.50          1.76             1.82



    Mar              Apr              May          Jun          Jul              Aug           Sep
$   69,511       $   58,916       $   32,621   $   24,575   $   29,420       $   45,867    $   58,177
$   30,772       $   24,208       $   14,133   $    7,094   $   12,151       $   17,004    $   25,933
$    9,947       $    9,110       $    5,168   $    4,003   $    5,569       $    7,722    $    9,767
      39.70            37.26           31.13        28.17         34.70            40.64         41.95
      29.11            26.78           21.51        14.96         25.40            30.14         33.66
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   69,599       $   59,877       $   33,412   $   25,463   $   30,584       $   47,175    $   59,300
$   30,830       $   24,639       $   14,501   $    7,380   $   12,684       $   17,561    $   26,488
$    9,959       $    9,257       $    5,289   $    4,143   $    5,771       $    7,933    $    9,950
      39.67            37.23           31.10        28.15         34.67            40.61         41.92
      29.08            26.76           21.50        14.95         25.38            30.12         33.64
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   69,587       $   60,822       $   32,110   $   25,359   $   30,536       $   46,679    $   58,388
$   30,866       $   25,090       $   13,940   $    7,371   $   12,703       $   17,428    $   26,122
$    9,957       $    9,398       $    5,083   $    4,123   $    5,750       $    7,843    $    9,793
      43.20            40.54           33.87        30.65         37.75            44.21         45.64
      31.66            29.14           23.41        16.28         27.64            32.79         36.62
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   69,753       $   61,016       $   32,238   $   25,502   $   30,867       $   47,285    $   58,651
$   30,956       $   25,190       $   14,006   $    7,422   $   12,863       $   17,694    $   26,267
$    9,981       $    9,428       $    5,103   $    4,145   $    5,807       $    7,941    $    9,836
      44.50            41.77           34.89        31.58         38.90            45.55         47.02
      32.62            30.02           24.11        16.77         28.47            33.79         37.73
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   69,345       $   59,630       $   34,470   $   26,753   $   32,259       $   49,202    $   60,415
$   30,801       $   24,631       $   15,030   $    7,829   $   13,508       $   18,518    $   27,140
$    9,922       $    9,214       $    5,441   $    4,340   $    6,041       $    8,245    $   10,118
      46.78            43.90           36.68        33.19         40.89            47.88         49.43
      34.29            31.55           25.35        17.63         29.93            35.52         39.66
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   68,217       $   58,376       $   36,205   $   29,332   $   35,548       $   50,693    $   58,804
$   30,407       $   24,227       $   15,889   $    8,712   $   15,095       $   19,331    $   26,571
$    9,704       $    8,954       $    5,638   $    4,685   $    6,488       $    8,362    $    9,747
      46.65            43.78           36.57        33.10         40.77            47.75         49.29
      34.20            31.47           25.28        17.58         29.85            35.42         39.55
          1.72             1.62         1.34         1.23             1.50          1.76             1.82
    Mar              Apr              May          Jun          Jul              Aug           Sep
$   68,980       $   59,066       $   36,760   $   29,828   $   36,121       $   51,317    $   59,376
$   30,764       $   24,534       $   16,145   $    8,871   $   15,359       $   19,598    $   26,853
$    9,812       $    9,072       $    5,723   $    4,763   $    6,587       $    8,463    $    9,840
      47.81            44.87           37.48        33.93         41.79            48.93         50.52
      35.05            32.25           25.91         18.01          30.59            36.30         40.54
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$   69,129       $   59,214       $   36,960    $   30,052    $   36,374       $   51,552    $   59,522
$   30,844       $   24,610       $   16,243    $    8,948    $   15,483       $   19,712    $   26,939
$    9,834       $    9,081       $    5,753    $    4,798    $    6,630       $    8,500    $    9,863
      46.91            44.02           36.78         33.29          41.00            48.01         49.56
      34.39            31.64           25.42         17.68          30.01            35.61         39.77
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              May           Jun           Jul              Aug           Sep
$   69,524       $   60,914       $   36,711    $   30,623    $   37,011       $   51,956    $   59,872
$   31,043       $   25,358       $   16,142    $    9,136    $   15,782       $   19,904    $   27,130
$    9,887       $    9,337       $    5,709    $    4,898    $    6,729       $    8,654    $   10,000
      48.25            45.28           37.83         34.24          42.17            49.38         50.98
      35.37            32.54           26.14         18.18          30.87            36.63         40.91
          1.72             1.62         1.34          1.23              1.50          1.76             1.82
    Mar              Apr              M