Good Morning Keoni,

I have a question relating to one of our customers who is short of reserves.  We know that it is possible to buy Replacement capacity.  I wanted to confirm with you that we are able to be exercised on that capacity.  Assuming this is the case, I am unsure of how the charge would work for this capacity purchase.  For example, if we bid $40 to purchase the capacity and the MCP is $30--is our payment as-bid ($40) or the MCP ($30)?

Thanks,

Kourtney
503-464-8280