Michael,

Attached is a sample JD Energy monthly Emissions Allowance Price Forecast 
edited from our August publication.  A couple of quick comments.

1-You actually would be able to subscribe for $1,500/yr instead of the full 
$1,800 price because Enron already subscribes to some of our coal work.

2-The Monthly publication, as you will notice, often focuses heavily on 
interpreting short-term "events" and placing them into a context for the next 
few years.  The Quarterly publication which forecasts for the longer-term 
obviously spends more time on market and cost fundamentals.  

3-I will send you a Background Paper we did on NOx some time ago to give you 
a flavor of how we address the more technical issues in-depth.  We had 
originally only sent this one out hard copy because we often use a large 
number of diagrams and other tables that don't always reproduce well, but you 
will be able to get an idea of these papers from what I send you.  This year 
we are sending out all of our Background Papers in PDF.

4-Finally, as I mentioned on the phone, we encourage our clients to call us 
with questions and comments, ranging from looking for specific information to 
simply brainstorming different scenarios.  Finally, I make a point to get to 
see all of our clients in person each year and do not charge anything extra 
for an on-site presentation at a mutually agreeable time.

I look forward to hearing your reaction to our forecasting service.  Thanks 
again for your interest.

Best Regards, 

John Dean
JD Energy, Inc.
922 Watersville Road
Mt. Airy, MD 21771
410-489-5141
Fax: 410-489-5257
jwdean@aol.com