Kit,

Attached is our extraction of the hourly values of "Mitigated Market
Clearing Price" (MMCP) as provided by the ISO on August 15, 2001.  These
values are subject to controversy and challenge, so I do not mean to imply
agreement by sending them to you.  They are simply what the ISO filed along
with their settlement recalculations in August.

Please call me if you have any questions about the files or how to interpret
the FERC order to recalculate settlement amounts.

 <<mmcp_081501.xls>>

Later today, I will be supplying a comparison of these MMCP values with the
market clearing prices (MCP) that apply to transactions in each hour, as
requested by Jim Steffes.  This later exercise is somewhat more
time-consuming, because different values are used for increments and for
decrements.

Jan Paul Acton
Vice President
Charles River Associates
1201 F St., NW, Suite 700
Washington, DC 20004-1204
Voice: (202) 662 3902
Fax: (202) 662 3910

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 - mmcp_081501.xls