FYI,  I am attaching for your information the price curves given to EES from 
ENA.  You will note that there is a very significant increase (approximately 
60% in some cases) between April 18 and April 25.  No reason has been 
attributed to the increase that any of the EES people I have talked to know 
about.  Speculation is that it is due to our inability to do physical deals 
(load following and balancing).  I believe that is probably the cause along 
with rising into Cinergy prices.  This is what precipitated my memo about the 
power swaps.  I got a green light from both EES and ENA to proceed and am 
waiting to hear back from AEP if they are willing to meet.

The issue of finding a solution to balancing and load following has to be the 
number one agenda item for the midwest because it is destroying our ability 
to do deals anywhere.  Mike Roan and I are working on a strategy to address 
the issue through the RTO on a longterm basis.  My hope is that negotiations 
with individual receptive utilities can provide interim solutions for us.

Janine