-----Original Message-----
From: 	Imai, Rika  
Sent:	Wednesday, November 21, 2001 10:51 AM
To:	Black, Tamara Jae
Subject:	AGENDA FOR PIRA PRESENTATION

TJ, 
Please send this out to all the traders
___________________________________________________________________________________________________________________

PIRA will be here on  Monday, December 3rd from 3:30-5:30.

The meeting will be located on the 6th floor in room 6980. 

If you have any specific topics you would like to have covered, please feel free to send me an e-mail

Thank You  

Rika 

Electricity & Fuels Briefing
Allan M. Stewart, Managing Director

AGENDA

Agenda:  This Agenda sets out a broad set of topics which will be covered in handout charts and tables accompanying this briefing. Active participation is encouraged to help efficiently utilize the time of discussion in line with areas of greatest interest.  In addition any questions forwarded in advance will be addressed.

Briefing Objective:  Review and analyze key drivers of electricity & fuel prices at various regional markets throughout North America, with a special emphasis on those subregions of the Eastern Grids. Discuss the key factors/risks in PIRA's reference case outlook and explore important alternative scenarios. Principal timeframes will be now through 3Q2002 (short-term), and 2002-4 (medium-term). There will be a brief discussion of strategic issues and those relating to longer-term timeframes.

Short-Term Electricity & Fuels Outlook (Next 12 Months)
Electricity Price Outlook (vs. Current Consensus)
Overall Load, Resource & Price Assessments
Capacity Modeling & Results
Hydro, Fuels, & Environmental Developments 
Implications for Natural Gas Demand/Prices

Medium-Term Electricity & Fuels Outlook (1 -3 Years)
Capacity Outlook
Survey Results & Implications For Prices & Asset Values
Structural Change Prospects and Potential Impacts
Strategic Implications For Traders/Asset Managers
Implications for Natural Gas Demand/Prices

Longer-Term & Strategic Issues for Future Electricity & Fuels Markets
	-	Outlook For Capacity Additions, Retirements, Environmental Factors & Prices
Potential Strategy Options For Consideration

Fuels & Emissions Markets
Natural Gas, Oil, and Coal Market Outlooks & Risks
Significant Emission Markets Developments