EX-99.A 31 form10k2008exhibit99a.htm EXHIBIT 99(A) form10k2008exhibit99a.htm
Exhibit 99(a)
Examples of Wholesale Energy, Fuel and Emission Allowance Price Fluctuations
2004 through 2008

Wholesale Energy:
PJM West Hub* Power Price - $/MWh
Year
High
Month
Low
Month
2004
$
181.66
 
December
$
0.00
**
Jan., June, July,
Aug., Sept., Oct.
2005
$
315.65
 
July
$
0.00
**
Jan., April, May,
June, July, Sept.
2006
$
769.90
 
August
$
0.00
**
April, May, June, July,
Aug., Nov., Dec.
2007
$
571.60
 
August
$
0.00
**
May, June,
July, Sept.
2008
$
475.58
 
June
$
0.00
**
May, July,
Aug., Sept.
*      A common trading hub for PJM.
**    Occurs during times of low demand for electricity when generation levels of generating units are reduced to their normal minimums.

Mid-C* Power Price - $/MWh
Year
High
Month
Low
Month
2004
$
65.06
 
July
$
10.21 
 
June
2005
$
139.76
 
December
$
7.68 
 
May
2006
$
189.87
 
July
$
(2.00)
**
May
2007
$
197.79
 
July
$
0.86 
 
March
2008
$
101.29
 
April
$
(7.50)
**
June
*      A common trading hub for Northwestern U.S.
**    Occurs when generation levels from hydroelectric units exceed demand due to excess water runoff.
 
Fuel:
NYMEX Coal (1% sulfur content, 12,000 Btu) Price - $/ton
Year
High
Month
Low
Month
2004
$
63.00
 
August
$
39.67
 
January
2005
$
62.75
 
September
$
51.10
 
June
2006
$
57.75
 
February
$
37.50
 
November
2007
$
56.80
 
November
$
38.75
 
January
2008
$
143.25
 
July
$
56.17
 
January

NYMEX Natural Gas Price - $/million Btu
Year
High
Month
Low
Month
2004
$
8.73
 
November
$
4.57
 
September
2005
$
15.38
 
December
$
5.83
 
January
2006
$
10.63
 
January
$
4.20
 
September
2007
$
9.90
 
May
$
5.20
 
September
2008
$
13.69
 
August
$
5.28
 
December

Residual Oil (1% sulfur content) Price @ NY Harbor - $/barrel
Year
High
Month
Low
Month
2004
$
35.38
 
October
$
22.12
 
December
2005
$
54.38
 
October
$
26.88
 
January
2006
$
54.25
 
April
$
35.00
 
October
2007
$
72.52
 
December
$
37.23
 
January
2008
$
119.70
 
July
$
28.40
 
December

Sulfur Dioxide Emission Allowances:
SO2 Emission Allowance Price - $/allowance
Year
High
Month
Low
Month
2004
$
730
 
November
$
210
 
January
2005
$
1,610
 
December
$
640
 
January
2006
$
1,598
 
January
$
445
 
November
2007
$
715
 
June
$
405
 
January
2008
$
535
 
January
$
88
 
July