Garret Tripp would be better able to answer your questions for the Canada nuclear facilities.   With respect to forward hedging in the US, we have never seen British Energy hedge anything.   I believe they have transition contracts with the utilities they purchased the plants from.

 -----Original Message-----
From: 	Edmiston, Derek  
Sent:	Thursday, October 18, 2001 6:03 AM
To:	Presto, Kevin M.
Cc:	Hastings, Simon; Lewis, Richard
Subject:	British Energy

Kevin

I'm contacting you in the hope that you may be able to provide us with some info regarding British Energy.  I'm a trader on the UK Power Desk where BE are one of our major counterparties.  We are currently assessing what their strategy is likely to be in the UK and this depends in part on how profitable their US/Canadian assets are.  Do you have any insights on what they are up to in these markets right now - i.e how much of their output do you believe they have hedged forward and at what price ?  If BE succeed in restarting another 1600MW at Bruce is this likely to depress the market price there ? In general what do we believe the outlook to be for the US and Canadian markets.

Any info would be much appreciated !

Should you need to speak to me my phone number is +0044 207 783 6919

Many thanks
Derek