Harry and Rob,

Could you read though the attached email.  Dana and I will need your imput tomorrow.  Garrett


Dana,,

Lavo would like us to show some hedging products to the Ontario government that would allow the government to feel comfortable opening the market this Winter (if all Retail and Wholesale IT systems are in place).  The government is worried about a Pickering unit not returning on Schedule (Dec. 31st 2001).  Our product will address this 'resource adequacy' issue.  

The government can not lift this offer. However, the government, if they want the province to be hedged, could ask OPG or OEFC to look into the products we are suggesting. 

Here is some product idea's and Indicative pricing.  Please review, and let's discuss which we should show.  With such a large volume, we would have to consider a price premium for Congestion and Ancillary Service risks associated with exporting from NY.  
For comparison, I priced the same products using NY West.



GT