At Friday's NYISO Management Committee meeting, two proposals were approved that will affect next year's rate schedule 1 charges. The first involves the assessment of regulatory fees charged by FERC for its electric industry costs. As you are aware, effective next year, FERC will be changing the way its electric program costs are assessed to market participants. Under the new method, a unit charge will be assessed against public utilities providing transmission service, including ISOs. NYISO estimates an annual assessment of $4-6 million. These fees will start to be recovered through the rate Schedule 1 charge effective January 1, 2002. This should equate to roughly $0.03 per MWH. The second item approved at Friday's meeting concerned the proposed 2002 budget for the NYISO. Total costs will be increasing roughly $12 million, which will raise the schedule 1 charges for running the ISO (currently $0.60 per MWH) by $0.03 to $0.05 per MWH, depending on the size of the proposed contingency fund that may be included by the Board. Offsetting these increases is the elimination of a $0.30 per MWH charge that has been collected during most of 2001 to create a $50 miilion working capital fund. The ISO expects to achieve full funding of this fund by the end of the current year.