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<tr>
<td>
<table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman',times,serif">
<tr>
<td>
<p style="FONT-FAMILY: times"><font size="3"><b>Derivative
Instruments</b></font></p>
<p style="FONT-FAMILY: times"><font size="2"><i>Nature of Our
Business and Associated Risks</i></font></p>
<p style="FONT-FAMILY: times"><font size="2">Our business
activities primarily include our merchant energy business and our
regulated electric and gas business. Our merchant energy business
includes:</font></p>
<ul>
<li style="LIST-STYLE-TYPE: none">
<dl compact="compact">
<dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times">
<font size="2">•</font></dt>
<dd style="FONT-FAMILY: times"><font size="2">the generation of
electricity from our owned and contractually-controlled physical
assets,</font></dd>
<dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times">
<font size="2">•</font></dt>
<dd style="FONT-FAMILY: times"><font size="2">the sale of power,
gas, and other energy commodities to wholesale and retail
customers, and</font></dd>
<dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times">
<font size="2">•</font></dt>
<dd style="FONT-FAMILY: times"><font size="2">risk management
services and energy trading activities.</font></dd></dl></li></ul>
<p style="FONT-FAMILY: times">
<font size="2"> Our
regulated electric and gas businesses engage in electricity and gas
transmission and distribution activities in Central Maryland at
prices set by the Maryland PSC that are generally designed to
recover our costs, including purchased fuel and energy.
Substantially all of our risk management activities involving
derivatives occur outside our regulated businesses.</font></p>
<p style="FONT-FAMILY: times">
<font size="2"> In
carrying out our merchant energy business activities, we purchase
and sell power, fuel, and other energy-related commodities in
competitive markets. These activities expose us to significant
risks, including market risk from price volatility for energy
commodities and the credit risks of counterparties with which we
enter into contracts. The sources of these risks include, but are
not limited to, the following:</font></p>
<ul>
<li style="LIST-STYLE-TYPE: none">
<dl compact="compact">
<dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times">
<font size="2">•</font></dt>
<dd style="FONT-FAMILY: times"><font size="2">the risks of
unfavorable changes in power prices in the wholesale forward and
spot markets in which we sell a portion of the power from our power
generation facilities and purchase power to meet our load-serving
requirements,</font></dd>
<dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times">
<font size="2">•</font></dt>
<dd style="FONT-FAMILY: times"><font size="2">the risk of
unfavorable fuel price changes for the purchase of a portion of the
fuel for our generation facilities under short-term contracts or on
the spot market (Fuel prices can be volatile, and the price that
can be obtained for power produced from such fuel may not change at
the same rate or direction as fuel costs),</font></dd>
<dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times">
<font size="2">•</font></dt>
<dd style="FONT-FAMILY: times"><font size="2">the risk that one or
more counterparties may fail to perform under their obligations to
make payments or deliver fuel or power,</font></dd>
<dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times">
<font size="2">•</font></dt>
<dd style="FONT-FAMILY: times"><font size="2">interest rate risk
associated with variable-rate debt and the fair value of fixed-rate
debt used to finance our operations, and</font></dd>
<dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times">
<font size="2">•</font></dt>
<dd style="FONT-FAMILY: times"><font size="2">foreign currency
exchange rate risk associated with international investments and
purchases of equipment and commodities in currencies other than
U.S. dollars.</font></dd></dl></li></ul>
<p style="FONT-FAMILY: times"><font size="2"><i>Objectives and
Strategies for Using Derivatives</i></font></p>
<p style="FONT-FAMILY: times"><font size="2"><u>Risk Management
Activities</u></font></p>
<p style="FONT-FAMILY: times"><font size="2">To lower our exposure
to the risk of unfavorable fluctuations in commodity prices,
interest rates, and foreign currency rates, we routinely enter into
derivative contracts, such as fixed-price forward physical purchase
and sales contracts, futures, financial swaps, and option contracts
traded in the over-the-counter markets or on exchanges, for hedging
purposes. The objectives for entering into such hedging
transactions primarily include:</font></p>
<ul>
<li style="LIST-STYLE-TYPE: none">
<dl compact="compact">
<dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times">
<font size="2">•</font></dt>
<dd style="FONT-FAMILY: times"><font size="2">fixing the price for
a portion of anticipated future electricity sales from our
generation operations,</font></dd>
<dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times">
<font size="2">•</font></dt>
<dd style="FONT-FAMILY: times"><font size="2">fixing the price of a
portion of anticipated fuel purchases for the operation of our
power plants,</font></dd>
<dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times">
<font size="2">•</font></dt>
<dd style="FONT-FAMILY: times"><font size="2">fixing the price for
a portion of anticipated energy purchases to supply our
load-serving customers, and</font></dd>
<dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times">
<font size="2">•</font></dt>
<dd style="FONT-FAMILY: times"><font size="2">managing our exposure
to interest rate risk and foreign currency exchange
risks.</font></dd></dl></li></ul>
<p style="FONT-FAMILY: times"><font size="2"><u>Non-Risk Management
Activities</u></font></p>
<p style="FONT-FAMILY: times"><font size="2">In addition to the use
of derivatives for risk management purposes, we also enter into
derivative contracts for trading purposes primarily to achieve the
following objectives:</font></p>
<ul>
<li style="LIST-STYLE-TYPE: none">
<dl compact="compact">
<dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times">
<font size="2">•</font></dt>
<dd style="FONT-FAMILY: times"><font size="2">optimizing the margin
on surplus electricity generation and load positions and surplus
fuel supply and demand positions,</font></dd>
<dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times">
<font size="2">•</font></dt>
<dd style="FONT-FAMILY: times"><font size="2">obtaining knowledge
of prices and developing expertise in less-liquid markets,
and</font></dd>
<dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times">
<font size="2">•</font></dt>
<dd style="FONT-FAMILY: times"><font size="2">deploying risk
capital in an effort to generate
returns.</font></dd></dl></li></ul>
<p style="FONT-FAMILY: times"><font size="2"><br />
</font><font size="2"><b>Accounting for Derivative
Instruments<br /></b></font></p>
<p style="FONT-FAMILY: times"><font size="2">The accounting
requirements for derivatives provide for recognition of all
qualifying derivative instruments on the balance sheet at fair
value as either assets or liabilities.</font></p>
<p style="FONT-FAMILY: times"><font size="2"><i>Accounting
Designation</i></font></p>
<p style="FONT-FAMILY: times"><font size="2">We must evaluate new
and existing transactions and agreements to determine whether they
are derivatives, for which there are several possible accounting
treatments. Mark-to-market is required as the default accounting
treatment for all derivatives unless they qualify, and we
specifically designate them, for one of the other accounting
treatments. Derivatives designated for any of the elective
accounting treatments must meet specific, restrictive criteria,
both at the time of designation and on an ongoing basis. The
permissible accounting treatments include:</font></p>
<ul>
<li style="LIST-STYLE-TYPE: none">
<dl compact="compact">
<dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times">
<font size="2">•</font></dt>
<dd style="FONT-FAMILY: times"><font size="2">normal purchase
normal sale (NPNS),</font></dd>
<dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times">
<font size="2">•</font></dt>
<dd style="FONT-FAMILY: times"><font size="2">cash flow
hedge,</font></dd>
<dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times">
<font size="2">•</font></dt>
<dd style="FONT-FAMILY: times"><font size="2">fair value hedge,
and</font></dd>
<dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times">
<font size="2">•</font></dt>
<dd style="FONT-FAMILY: times">
<font size="2">mark-to-market.</font></dd></dl></li></ul>
<p style="FONT-FAMILY: times">
<font size="2"> We
discuss our accounting policies for derivatives and hedging
activities and their impacts on our financial statements in</font>
<font size="2"><i>Note 1</i></font> <font size="2">to our 2008
Annual Report on Form 10-K.</font></p>
<p style="FONT-FAMILY: times"><font size="2"><i>NPNS</i></font></p>
<p style="FONT-FAMILY: times"><font size="2">We elect NPNS
accounting for derivative contracts that provide for the purchase
or sale of a physical commodity that will be delivered in
quantities expected to be used or sold over a reasonable period in
the normal course of business. Once we elect NPNS classification
for a given contract, we cannot subsequently change the election
and treat the contract as a derivative using mark-to-market or
hedge accounting.</font></p>
<p style="FONT-FAMILY: times"><font size="2"><i>Cash Flow
Hedging</i></font></p>
<p style="FONT-FAMILY: times"><font size="2">We generally elect
cash flow hedge accounting for most of the derivatives that we use
to hedge market price risk for our physical energy delivery
activities because hedge accounting more closely aligns the timing
of earnings recognition and cash flows for the underlying business
activities. Management monitors the potential impacts of commodity
price changes and, where appropriate, may enter into or close out
(via offsetting transactions) derivative transactions designated as
cash flow hedges.</font></p>
<p style="FONT-FAMILY: times"><font size="2"><u>Commodity Cash Flow
Hedges</u></font></p>
<p style="FONT-FAMILY: times"><font size="2">Our merchant energy
business has designated fixed-price forward contracts as cash-flow
hedges of forecasted sales of energy and forecasted purchases of
fuel and energy for the years 2009 through 2016. Our merchant
energy business had net unrealized pre-tax losses on these
cash-flow hedges recorded in "Accumulated other comprehensive loss"
of $1,323.1 million at September 30, 2009 and
$2,614.9 million at December 31, 2008.</font></p>
<p style="FONT-FAMILY: times">
<font size="2"> We
expect to reclassify $941.8 million of net pre-tax losses on
cash-flow hedges from "Accumulated other comprehensive loss" into
earnings during the next twelve months based on market prices at
September 30, 2009. However, the actual amount reclassified
into earnings could vary from the amounts recorded at
September 30, 2009, due to future changes in market
prices.</font></p>
<p style="FONT-FAMILY: times">
<font size="2"> When
we determine that a forecasted transaction originally hedged has
become probable of not occurring, we reclassify net unrealized
gains or losses associated with those hedges from "Accumulated
other comprehensive loss" to earnings. We recognized in earnings
the following pre-tax amounts on such contracts:</font></p>
<div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 10%; WIDTH: 80%; PADDING-TOP: 0pt; POSITION: relative">
<p style="FONT-FAMILY: times"><font size="2">
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<div align="center">
<table cellspacing="0" cellpadding="0" width="100%" border="0">
<tr style="HEIGHT: 0px"><!-- TABLE COLUMN WIDTHS SET -->
<td style="FONT-FAMILY: times" align="left"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<td style="FONT-FAMILY: times" align="right" width="6"></td>
<td style="FONT-FAMILY: times" width="34"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<td style="FONT-FAMILY: times" align="right" width="6"></td>
<td style="FONT-FAMILY: times" width="34"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<td style="FONT-FAMILY: times" align="right" width="6"></td>
<td style="FONT-FAMILY: times" width="41"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<td style="FONT-FAMILY: times" align="right" width="6"></td>
<td style="FONT-FAMILY: times" width="34"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<!-- TABLE COLUMN WIDTHS END --></tr>
<tr style="HEIGHT: 0px" valign="bottom">
<th style="FONT-FAMILY: times" align="left">
<font size="2"> </font><br /></th>
<th style="FONT-FAMILY: times"><font size="2"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="5">
<font size="2"><b>Quarter Ended<br />
September 30,</b></font><br /></th>
<th style="FONT-FAMILY: times"><font size="2"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="5">
<font size="2"><b>Nine Months<br />
Ended<br />
September 30,</b></font><br /></th>
<th style="FONT-FAMILY: times">
<font size="2"> </font></th></tr>
<tr style="HEIGHT: 0px" valign="bottom">
<th style="FONT-FAMILY: times" align="center">
<font size="2"> </font><br /></th>
<th style="FONT-FAMILY: times"><font size="2"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="2">
<font size="2"><b>2009</b></font><br /></th>
<th style="FONT-FAMILY: times"><font size="2"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="2">
<font size="2"><b>2008</b></font><br /></th>
<th style="FONT-FAMILY: times"><font size="2"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="2">
<font size="2"><b>2009</b></font><br /></th>
<th style="FONT-FAMILY: times"><font size="2"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="2">
<font size="2"><b>2008</b></font><br /></th>
<th style="FONT-FAMILY: times">
<font size="2"> </font></th></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="bottom">
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times"
align="center" colspan="13"> </th>
<th style="FONT-FAMILY: times"> </th></tr>
<tr style="HEIGHT: 0px" valign="bottom">
<th style="FONT-FAMILY: times" align="left">
<font size="2"> </font><br /></th>
<th style="FONT-FAMILY: times"><font size="2"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="11">
<font size="2"><i>(In millions)</i></font><br /></th>
<th style="FONT-FAMILY: times">
<font size="2"> </font></th></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: times">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times">
<font size="2">Pre-tax (losses) gains</font></p></td>
<td style="FONT-FAMILY: times"><font size="2"> </font></td>
<td style="FONT-FAMILY: times"><font size="2"><b>$</b></font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="2"><b>—</b></font></td>
<td style="FONT-FAMILY: times"><font size="2"> </font></td>
<td style="FONT-FAMILY: times"><font size="2">$</font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="2">17.0</font></td>
<td style="FONT-FAMILY: times"><font size="2"> </font></td>
<td style="FONT-FAMILY: times"><font size="2"><b>$</b></font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="2"><b>(241.0</b></font></td>
<td style="FONT-FAMILY: times"><font size="2"><b>)</b></font></td>
<td style="FONT-FAMILY: times"><font size="2">$</font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="2">17.7</font></td>
<td style="FONT-FAMILY: times">
<font size="2"> </font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times"
valign="bottom" colspan="13"> </td>
<td style="FONT-FAMILY: times" valign="bottom">
</td></tr></table></div>
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<p style="FONT-FAMILY: times">
<font size="2"> The
pre-tax loss reclassified in 2009 resulted from the sale of a
majority of our international commodities operation and our
termination of certain contracts as part of our efforts to improve
liquidity and reduce risk. The forecasted transactions associated
with previously designated cash-flow hedge contracts were deemed
probable of not occurring.</font></p>
<p style="FONT-FAMILY: times"><font size="2"><u>Interest Rate Swaps
Designated as Cash Flow Hedges</u></font></p>
<p style="FONT-FAMILY: times"><font size="2">We use interest rate
swaps designated as cash flow hedges to manage our interest rate
exposures associated with new debt issuances and to manage our
exposure to fluctuations in interest rates on variable rate debt.
The effective portion of gains and losses on these interest rate
cash flow hedges, net of associated deferred income tax effects, is
recorded in "Accumulated other comprehensive loss" in our
Consolidated Statements of Comprehensive Income (Loss). We
reclassify gains and losses on the hedges from "Accumulated other
comprehensive loss" into "Interest expense" in our Consolidated
Statements of Income (Loss) during the periods in which the
interest payments being hedged occur.</font></p>
<p style="FONT-FAMILY: times">
<font size="2"> Accumulated
other comprehensive loss includes net unrealized pre-tax gains on
interest rate cash-flow hedges of prior debt issuances totaling
$11.9 million at September 30, 2009 and
$12.0 million at December 31, 2008. We expect to
reclassify $2.3 million of pre-tax net gains on these
cash-flow hedges from "Accumulated other comprehensive loss" into
"Interest expense" during the next twelve months. We had no hedge
ineffectiveness on these swaps.</font></p>
<p style="FONT-FAMILY: times"><font size="2"><i>Fair Value
Hedging</i></font></p>
<p style="FONT-FAMILY: times"><font size="2">We elect fair value
hedge accounting for a limited portion of our derivative contracts
including certain interest rate swaps and certain forward contracts
and price and basis swaps associated with natural gas fuel in
storage. The objectives for electing fair value hedging in these
situations are to manage our exposure, to optimize the mix of our
fixed and floating-rate debt, and to hedge the value of our natural
gas in storage. We did not have any fair value hedges related to
the value of our natural gas in storage during the second and third
quarters of 2009.</font></p>
<p style="FONT-FAMILY: times"><font size="2"><u>Interest Rate Swaps
Designated as Fair Value Hedges</u></font></p>
<p style="FONT-FAMILY: times"><font size="2">We use interest rate
swaps designated as fair value hedges to optimize the mix of fixed
and floating-rate debt. We record any gains or losses on swaps that
qualify for fair value hedge accounting treatment, as well as
changes in the fair value of the debt being hedged, in "Interest
expense." We record changes in fair value of the swaps in
"Derivative assets and liabilities" and changes in the fair value
of the debt in "Long-term debt" in our Consolidated Balance Sheets.
In addition, we record the difference between interest on hedged
fixed-rate debt and floating-rate swaps in "Interest expense" in
the periods that the swaps settle.</font></p>
<p style="FONT-FAMILY: times">
<font size="2"> During
2004, we entered into interest rate swaps qualifying as fair value
hedges relating to $450 million of our fixed-rate debt
maturing in 2012 and 2015, and converted this notional amount of
debt to floating-rate. The fair value of these hedges was an
unrealized gain of $46.8 million at September 30, 2009
and $55.9 million at December 31, 2008 and was recorded
as an increase in our "Derivative assets" and an increase in our
"Long-term debt." We had no hedge ineffectiveness on these interest
rate swaps. On July 15, 2009, we terminated an interest rate
swap relating to $50 million of the $450 million of our
fixed-rate debt and received approximately $4.5 million in
cash. This transaction was recorded in the third quarter of
2009.</font></p>
<p style="FONT-FAMILY: times"><font size="2"><i>Hedge
Ineffectiveness</i></font></p>
<p style="FONT-FAMILY: times"><font size="2">For all categories of
derivative instruments designated in hedging relationships, we
recorded in earnings the following pre-tax gains (losses) related
to hedge ineffectiveness:</font></p>
<div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 10%; WIDTH: 80%; PADDING-TOP: 0pt; POSITION: relative">
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<td style="FONT-FAMILY: times" align="left"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<td style="FONT-FAMILY: times" align="right" width="6"></td>
<td style="FONT-FAMILY: times" width="35"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<td style="FONT-FAMILY: times" align="right" width="6"></td>
<td style="FONT-FAMILY: times" width="34"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<td style="FONT-FAMILY: times" align="right" width="6"></td>
<td style="FONT-FAMILY: times" width="31"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<td style="FONT-FAMILY: times" align="right" width="6"></td>
<td style="FONT-FAMILY: times" width="40"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<!-- TABLE COLUMN WIDTHS END --></tr>
<tr style="HEIGHT: 0px" valign="bottom">
<th style="FONT-FAMILY: times" align="left">
<font size="2"> </font><br /></th>
<th style="FONT-FAMILY: times"><font size="2"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="5">
<font size="2"><b>Quarter Ended<br />
September 30,</b></font><br /></th>
<th style="FONT-FAMILY: times"><font size="2"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="5">
<font size="2"><b>Nine Months<br />
Ended<br />
September 30,</b></font><br /></th>
<th style="FONT-FAMILY: times">
<font size="2"> </font></th></tr>
<tr style="HEIGHT: 0px" valign="bottom">
<th style="FONT-FAMILY: times" align="center">
<font size="2"> </font><br /></th>
<th style="FONT-FAMILY: times"><font size="2"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="2">
<font size="2"><b>2009</b></font><br /></th>
<th style="FONT-FAMILY: times"><font size="2"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="2">
<font size="2"><b>2008</b></font><br /></th>
<th style="FONT-FAMILY: times"><font size="2"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="2">
<font size="2"><b>2009</b></font><br /></th>
<th style="FONT-FAMILY: times"><font size="2"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="2">
<font size="2"><b>2008</b></font><br /></th>
<th style="FONT-FAMILY: times">
<font size="2"> </font></th></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="bottom">
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times"
align="center" colspan="13"> </th>
<th style="FONT-FAMILY: times"> </th></tr>
<tr style="HEIGHT: 0px" valign="bottom">
<th style="FONT-FAMILY: times" align="left">
<font size="2"> </font><br /></th>
<th style="FONT-FAMILY: times"><font size="2"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="11">
<font size="2"><i>(In millions)</i></font><br /></th>
<th style="FONT-FAMILY: times">
<font size="2"> </font></th></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: times">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times">
<font size="2">Cash-flow hedges</font></p></td>
<td style="FONT-FAMILY: times"><font size="2"> </font></td>
<td style="FONT-FAMILY: times"><font size="2"><b>$</b></font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="2"><b>(13.2</b></font></td>
<td style="FONT-FAMILY: times"><font size="2"><b>)</b></font></td>
<td style="FONT-FAMILY: times"><font size="2">$</font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="2">(13.2</font></td>
<td style="FONT-FAMILY: times"><font size="2">)</font></td>
<td style="FONT-FAMILY: times"><font size="2"><b>$</b></font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="2"><b>39.4</b></font></td>
<td style="FONT-FAMILY: times"><font size="2"> </font></td>
<td style="FONT-FAMILY: times"><font size="2">$</font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="2">(103.0</font></td>
<td style="FONT-FAMILY: times"><font size="2">)</font></td></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="white">
<td style="FONT-FAMILY: times">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times">
<font size="2">Fair value hedges</font></p></td>
<td style="FONT-FAMILY: times"><font size="2"> </font></td>
<td style="FONT-FAMILY: times"><font size="2"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="2"><b>—</b></font></td>
<td style="FONT-FAMILY: times"><font size="2"> </font></td>
<td style="FONT-FAMILY: times"><font size="2"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="2">(6.2</font></td>
<td style="FONT-FAMILY: times"><font size="2">)</font></td>
<td style="FONT-FAMILY: times"><font size="2"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="2"><b>23.9</b></font></td>
<td style="FONT-FAMILY: times"><font size="2"> </font></td>
<td style="FONT-FAMILY: times"><font size="2"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="2">6.7</font></td>
<td style="FONT-FAMILY: times">
<font size="2"> </font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times"
valign="bottom" colspan="13"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: times">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times">
<font size="2">Total</font></p></td>
<td style="FONT-FAMILY: times"><font size="2"> </font></td>
<td style="FONT-FAMILY: times"><font size="2"><b>$</b></font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="2"><b>(13.2</b></font></td>
<td style="FONT-FAMILY: times"><font size="2"><b>)</b></font></td>
<td style="FONT-FAMILY: times"><font size="2">$</font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="2">(19.4</font></td>
<td style="FONT-FAMILY: times"><font size="2">)</font></td>
<td style="FONT-FAMILY: times"><font size="2"><b>$</b></font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="2"><b>63.3</b></font></td>
<td style="FONT-FAMILY: times"><font size="2"> </font></td>
<td style="FONT-FAMILY: times"><font size="2">$</font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="2">(96.3</font></td>
<td style="FONT-FAMILY: times"><font size="2">)</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times"
valign="bottom" colspan="13"> </td>
<td style="FONT-FAMILY: times" valign="bottom">
</td></tr></table></div>
<!-- end of user-specified TAGGED TABLE --></div>
<p style="FONT-FAMILY: times">
<font size="2"> In
addition, we did not recognize any gain or loss during the quarter
or nine months ended September 30, 2009 and 2008 relating to
changes in value for the portion of our fair value hedges excluded
from our hedge effectiveness assessment.</font></p>
<p style="FONT-FAMILY: times">
<font size="2"><i>Mark-to-Market</i></font></p>
<p style="FONT-FAMILY: times"><font size="2">We generally apply
mark-to-market accounting for risk management and trading
activities for which changes in fair value more closely reflect the
economic performance of the underlying business activity. However,
we also use mark-to-market accounting for derivatives related to
the following physical energy delivery activities:</font></p>
<ul>
<li style="LIST-STYLE-TYPE: none">
<dl compact="compact">
<dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times">
<font size="2">•</font></dt>
<dd style="FONT-FAMILY: times"><font size="2">our nonregulated
retail gas customer supply activities, which are managed using
economic hedges that we have not designated as cash-flow hedges in
order to match the timing of recognition of the earnings impacts of
those activities to the greatest extent permissible,
and</font></dd>
<dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times">
<font size="2">•</font></dt>
<dd style="FONT-FAMILY: times"><font size="2">economic hedges of
activities that require accrual accounting for which the related
hedge requires mark-to-market
accounting.</font></dd></dl></li></ul>
<p style="FONT-FAMILY: times"><font size="2"><br />
</font><font size="2"><b>Quantitative Information About Derivatives
and Hedging Activities<br /></b></font></p>
<p style="FONT-FAMILY: times">
<font size="2"><i>Background</i></font></p>
<p style="FONT-FAMILY: times"><font size="2">Effective
January 1, 2009, we adopted an accounting standard related to
disclosures about derivative instruments and hedging activities.
This standard does not change the accounting for derivatives;
rather, it requires expanded disclosure about derivative
instruments and hedging activities regarding:</font></p>
<ul>
<li style="LIST-STYLE-TYPE: none">
<dl compact="compact">
<dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times">
<font size="2">•</font></dt>
<dd style="FONT-FAMILY: times"><font size="2">the ways in which an
entity uses derivatives,</font></dd>
<dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times">
<font size="2">•</font></dt>
<dd style="FONT-FAMILY: times"><font size="2">the accounting for
derivatives and hedging activities, and</font></dd>
<dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times">
<font size="2">•</font></dt>
<dd style="FONT-FAMILY: times"><font size="2">the impact that
derivatives have (or could have) on an entity's financial position,
financial performance, and cash flows.</font></dd></dl></li></ul>
<p style="FONT-FAMILY: times"><font size="2"><i>Balance Sheet
Tables</i></font></p>
<p style="FONT-FAMILY: times"><font size="2">We present our
derivative assets and liabilities in our Consolidated Balance
Sheets on a net basis, including cash collateral, whenever we have
a legally enforceable master netting agreement with a counterparty
to a derivative contract. We use master netting agreements whenever
possible to manage and substantially reduce our potential
counterparty credit risk. The net presentation in our Consolidated
Balance Sheets reflects our actual credit exposure after giving
effect to the beneficial effects of these agreements and cash
collateral, and our credit risk is reduced further by other forms
of collateral.</font></p>
<p style="FONT-FAMILY: times">
<font size="2"> The
following table provides information about the types of market
risks we manage using derivatives. This table only includes
derivatives and does not reflect the price risks we are hedging
that arise from physical assets or nonderivative accrual contracts
within our generating plants, customer supply, and global
commodities activities.</font></p>
<p style="FONT-FAMILY: times">
<font size="2"> As
discussed more fully following the table, we present this
information by disaggregating our net derivative assets and
liabilities into gross components on a contract-by-contract basis
before giving effect to the risk-reducing benefits of master
netting arrangements and collateral. As a result, we must present
each individual contract as an "asset value" if it is in the money
or a "liability value" if it is out of the money, regardless of
whether the individual contracts offset market or credit risks of
other contracts in full or in part. Therefore, the gross amounts in
this table do not reflect our actual economic or credit risk
associated with derivatives. This gross presentation is intended
only to show separately the various derivative contract types we
use, such as commodities, interest rate, and foreign
exchange.</font></p>
<p style="FONT-FAMILY: times">
<font size="2"> In
order to identify how our derivatives impact our financial
position, at the bottom of the table we provide a reconciliation of
the gross fair value components to the net fair value amounts as
presented in the</font> <font size="2"><i>Fair Value
Measurements</i></font> <font size="2">note and our Consolidated
Balance Sheets.</font></p>
<p style="FONT-FAMILY: times">
<font size="2"> The
gross asset and liability values in the table below are segregated
between those derivatives designated in qualifying hedge accounting
relationships and those not designated in hedge accounting
relationships. Derivatives not designated in hedging relationships
include our retail gas customer supply operation, economic hedges
of accrual activities, the international commodities and
Houston-based gas trading operations that we have divested, and
risk management and trading activities which we have substantially
curtailed as part of our effort to reduce risk in our business. We
use the end of period accounting designation to determine the
classification for each derivative position.</font></p>
<div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 10%; WIDTH: 67%; PADDING-TOP: 0pt; POSITION: relative">
<p style="FONT-FAMILY: times"><font size="1">
<!-- COMMAND=ADD_TABLEWIDTH,"120%" --></font></p>
<!-- User-specified TAGGED TABLE -->
<div align="center">
<table cellspacing="0" cellpadding="0" width="120%" border="0">
<tr style="HEIGHT: 0px"><!-- TABLE COLUMN WIDTHS SET -->
<td style="FONT-FAMILY: times" align="left" width="8"></td>
<td style="FONT-FAMILY: times" align="left"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<td style="FONT-FAMILY: times" align="right" width="6"></td>
<td style="FONT-FAMILY: times" width="40"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<td style="FONT-FAMILY: times" align="right" width="6"></td>
<td style="FONT-FAMILY: times" width="42"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<td style="FONT-FAMILY: times" align="right" width="6"></td>
<td style="FONT-FAMILY: times" width="45"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<td style="FONT-FAMILY: times" align="right" width="6"></td>
<td style="FONT-FAMILY: times" width="47"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<td style="FONT-FAMILY: times" align="right" width="6"></td>
<td style="FONT-FAMILY: times" width="47"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<td style="FONT-FAMILY: times" align="right" width="6"></td>
<td style="FONT-FAMILY: times" width="47"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<!-- TABLE COLUMN WIDTHS END --></tr>
<tr style="HEIGHT: 0px" valign="bottom">
<th style="FONT-FAMILY: times" align="left" colspan="2">
<font size="1"><i>As of September 30,
2009</i></font><br /></th>
<th style="FONT-FAMILY: times"><font size="1"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="5">
<font size="1">Derivatives<br />
Designated as Hedging<br />
Instruments for<br />
Accounting Purposes</font><br /></th>
<th style="FONT-FAMILY: times"><font size="1"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="5">
<font size="1">Derivatives Not<br />
Designated As Hedging<br />
Instruments for<br />
Accounting Purposes</font><br /></th>
<th style="FONT-FAMILY: times"><font size="1"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="5">
<font size="1">All Derivatives<br />
Combined</font><br /></th>
<th style="FONT-FAMILY: times">
<font size="1"> </font></th></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="bottom">
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times"
align="center" colspan="20"> </th>
<th style="FONT-FAMILY: times"> </th></tr>
<tr style="HEIGHT: 0px" valign="bottom">
<th style="FONT-FAMILY: times" align="left" colspan="2">
<font size="1">Contract type</font><br /></th>
<th style="FONT-FAMILY: times"><font size="1"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="2">
<font size="1">Asset<br />
Values<sup>3</sup></font><br /></th>
<th style="FONT-FAMILY: times"><font size="1"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="2">
<font size="1">Liability<br />
Values<sup>4</sup></font><br /></th>
<th style="FONT-FAMILY: times"><font size="1"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="2">
<font size="1">Asset<br />
Values<sup>3</sup></font><br /></th>
<th style="FONT-FAMILY: times"><font size="1"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="2">
<font size="1">Liability<br />
Values<sup>4</sup></font><br /></th>
<th style="FONT-FAMILY: times"><font size="1"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="2">
<font size="1">Asset<br />
Values<sup>3</sup></font><br /></th>
<th style="FONT-FAMILY: times"><font size="1"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="2">
<font size="1">Liability<br />
Values<sup>4</sup></font><br /></th>
<th style="FONT-FAMILY: times">
<font size="1"> </font></th></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="bottom">
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times"
align="center" colspan="20"> </th>
<th style="FONT-FAMILY: times"> </th></tr>
<tr style="HEIGHT: 0px" valign="bottom">
<th style="FONT-FAMILY: times" align="left" colspan="2">
<font size="1"> </font><br /></th>
<th style="FONT-FAMILY: times"><font size="1"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="17">
<font size="1"><i>(In millions)</i></font><br /></th>
<th style="FONT-FAMILY: times">
<font size="1"> </font></th></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: times"><font size="0"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Power contracts</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">2,127.9</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(2,943.8</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">16,422.9</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(17,345.4</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">18,550.8</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(20,289.2</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: times"><font size="0"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Gas contracts</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">1,868.8</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(1,305.4</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">5,412.9</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(5,088.8</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">7,281.7</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(6,394.2</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: times"><font size="0"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Coal contracts</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">33.7</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(71.6</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">1,070.9</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(1,090.6</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">1,104.6</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(1,162.2</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: times"><font size="0"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Other commodity
contracts<sup>1</sup></font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">10.6</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(18.3</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">200.1</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(172.3</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">210.7</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(190.6</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: times"><font size="0"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Interest rate contracts</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">46.8</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">—</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">35.5</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(52.8</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">82.3</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(52.8</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: times"><font size="0"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Foreign exchange contracts</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">—</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">—</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">26.9</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(21.9</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">26.9</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(21.9</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times"
valign="bottom" colspan="20"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: times" valign="bottom" colspan="2">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Total gross fair values</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">4,087.8</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(4,339.1</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">23,169.2</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(23,771.8</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">27,257.0</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(28,110.9</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: times" valign="bottom" colspan="2">
</td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times"
valign="bottom" align="right" colspan="11"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
</td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: times"><font size="0"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Netting arrangements<sup>5</sup></font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(26,223.6</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">26,223.6</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: times"><font size="0"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Cash collateral</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(274.1</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">99.4</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: times" valign="bottom" colspan="2">
</td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times"
valign="bottom" align="right" colspan="5"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: times" valign="bottom" colspan="2">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Net fair values</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">759.3</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(1,787.9</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: times" valign="bottom" colspan="2">
</td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times"
valign="bottom" align="right" colspan="5"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: times" valign="bottom" colspan="2">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Net fair value by balance sheet line
item:</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: times" valign="bottom" colspan="2">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Accounts receivable<sup>2</sup></font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(741.2</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: times" valign="bottom" colspan="2">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Derivative assets—current</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">582.8</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: times" valign="bottom" colspan="2">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Derivative assets—noncurrent</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">917.7</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: times" valign="bottom" colspan="2">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Derivative liabilities—current</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(823.1</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: times" valign="bottom" colspan="2">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Derivative liabilities—noncurrent</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(964.8</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: times" valign="bottom" colspan="2">
</td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times"
valign="bottom" align="right" colspan="5"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: times" valign="bottom" colspan="2">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Total Derivatives</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">759.3</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(1,787.9</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times"
valign="bottom" colspan="20"> </td>
<td style="FONT-FAMILY: times" valign="bottom">
</td></tr></table></div>
<!-- end of user-specified TAGGED TABLE --></div>
<div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 10%; PADDING-TOP: 0pt; POSITION: relative; TEXT-ALIGN: left">
<p style="FONT-FAMILY: times"><font size="2"><i>1 Other
commodity contracts include oil, freight, emission allowances, and
weather contracts.</i></font><br />
<font size="2"><i>2 Represents the unrealized fair value of
exchange traded derivatives, exclusive of cash margin
posted.</i></font><br />
<font size="2"><i>3 Represents in-the-money contracts without
regard to potentially offsetting out-of-the-money contracts under
master netting agreements.</i></font><br />
<font size="2"><i>4 Represents out-of-the-money contracts without
regard to potentially offsetting in-the-money contracts under
master netting agreements.</i></font><br />
<font size="2"><i>5 Represents the effect of legally enforceable
master netting agreements.</i></font></p></div>
<p style="FONT-FAMILY: times">
<font size="2"> The
magnitude of and changes in the gross derivatives components in
this table do not indicate changes in the level of derivative
activities, the level of market risk, or the level of credit risk.
The primary factors affecting the magnitude of the gross amounts in
the table are changes in commodity prices and the total number of
contracts. If commodity prices change, the gross amounts could
increase, even if the level of contracts stays the same, because
separate presentation is required for contracts that are in the
money from those that are out of the money. As a result, the gross
amounts of even fully hedged positions could increase if prices
change. Additionally, if the number of contracts increases, the
gross amounts also could increase. Thus, the execution of new
contracts to reduce economic risk could actually increase the gross
amounts in the table because of the requirement to present the
gross value of each individual contract separately.</font></p>
<p style="FONT-FAMILY: times">
<font size="2"> The
primary purpose of this table is to disaggregate the risks being
managed using derivatives. In order to achieve this objective, we
prepare this table by separating each individual derivative
contract that is in the money from each contract that is out of the
money and present such amounts on a gross basis, even for
offsetting contracts that have identical quantities for the same
commodity, location, and delivery period. We must also present
these components excluding the substantive credit-risk reducing
effects of master netting agreements and collateral. As a result,
the gross "asset" and "liability" amounts for each contract type
far exceed our actual economic exposure to commodity price risk and
credit risk. Our actual economic exposure consists of the net
derivative position combined with our nonderivative accrual
contracts, such as those for load-serving, and our physical assets,
such as our power plants. Our actual derivative credit risk
exposure after master netting agreements and cash collateral is
reflected in the net fair value amounts shown at the bottom of the
table above. Our total economic and credit exposures, including
derivatives, are managed in a comprehensive risk framework that
includes risk measures such as economic value at risk, stress
testing, and maximum potential credit exposure.</font></p>
<p style="FONT-FAMILY: times"><font size="2"><i>Gain and (Loss)
Tables</i></font></p>
<p style="FONT-FAMILY: times"><font size="2">The following tables
summarize the gain and loss impacts of our derivative instruments
segregated into the following categories:</font></p>
<ul>
<li style="LIST-STYLE-TYPE: none">
<dl compact="compact">
<dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times">
<font size="2">•</font></dt>
<dd style="FONT-FAMILY: times"><font size="2">cash flow
hedges,</font></dd>
<dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times">
<font size="2">•</font></dt>
<dd style="FONT-FAMILY: times"><font size="2">fair value hedges,
and</font></dd>
<dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times">
<font size="2">•</font></dt>
<dd style="FONT-FAMILY: times"><font size="2">mark-to-market
derivatives.</font></dd></dl></li></ul>
<p style="FONT-FAMILY: times">
<font size="2"> The
tables only include this information for derivatives and do not
reflect the related gains or losses that arise from generation and
generation-related assets, nonderivative accrual contracts, or NPNS
contracts within our Generation, Customer Supply, and Global
Commodities activities, other than fair value hedges, for which we
separately show the gain or loss on the hedged asset or liability.
As a result, for mark-to-market and cash-flow hedge derivatives,
these tables only reflect the impact of derivatives themselves and
therefore do not necessarily include all of the income statement
impacts of the transactions for which derivatives are used to
manage risk. For a more complete discussion of how derivatives
affect our financial performance, see our accounting policy for
Revenues, Fuel and Purchased Energy Expenses, and Derivatives and
Hedging Activities in</font>
<font size="2"><i>Note 1</i></font> <font size="2">to our 2008
Annual Report on Form 10-K.</font></p>
<p style="FONT-FAMILY: times">
<font size="2"> The
following table presents gains and losses on derivatives designated
as cash flow hedges. As discussed more fully in our accounting
policy, we record the effective portion of unrealized gains and
losses on cash flow hedges in Accumulated Other Comprehensive Loss
until the hedged forecasted transaction affects earnings. We record
the ineffective portion of gains and losses on cash flow hedges in
earnings as they occur. When the hedged forecasted transaction
settles and is recorded in earnings, we reclassify the related
amounts from Accumulated Other Comprehensive Loss into earnings,
with the result that the combination of revenue or expense from the
forecasted transaction and gain or loss from the hedge are
recognized in earnings at a total amount equal to the hedged price.
Accordingly, the amount of derivative gains and losses recorded in
Accumulated Other Comprehensive Loss and reclassified from
Accumulated Other Comprehensive Loss into earnings does not reflect
the total economics of the hedged forecasted transactions. The
total impact of our forecasted transactions and related hedges is
reflected in our Consolidated Statements of Income
(Loss).</font></p>
<div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 10%; WIDTH: 57%; PADDING-TOP: 0pt; POSITION: relative">
<p style="FONT-FAMILY: times"><font size="1">
<!-- COMMAND=ADD_TABLEWIDTH,"140%" --></font></p>
<!-- User-specified TAGGED TABLE -->
<div align="center">
<table cellspacing="0" cellpadding="0" width="140%" border="0">
<tr style="HEIGHT: 0px"><!-- TABLE COLUMN WIDTHS SET -->
<td style="FONT-FAMILY: times" align="left" width="8"></td>
<td style="FONT-FAMILY: times" align="left" width="19%"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<td style="FONT-FAMILY: times" align="right" width="4"></td>
<td style="FONT-FAMILY: times" width="55"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<td style="FONT-FAMILY: times" align="right" width="4"></td>
<td style="FONT-FAMILY: times" width="55"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<td style="FONT-FAMILY: times" align="left" width="19%"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<td style="FONT-FAMILY: times" align="right" width="4"></td>
<td style="FONT-FAMILY: times" width="53"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<td style="FONT-FAMILY: times" align="right" width="4"></td>
<td style="FONT-FAMILY: times" width="54"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<td style="FONT-FAMILY: times" align="right" width="4"></td>
<td style="FONT-FAMILY: times" width="53"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<td style="FONT-FAMILY: times" align="right" width="4"></td>
<td style="FONT-FAMILY: times" width="54"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<!-- TABLE COLUMN WIDTHS END --></tr>
<tr style="HEIGHT: 0px" valign="bottom">
<th style="FONT-FAMILY: times" align="left" colspan="10">
<font size="1">Cash Flow Hedges</font><br /></th>
<th style="FONT-FAMILY: times"><font size="1"> </font></th>
<th style="FONT-FAMILY: times" align="right" colspan="5">
<font size="1"><i>Quarter Ended<br />
September 30, 2009</i></font><br /></th>
<th style="FONT-FAMILY: times"><font size="1"> </font></th>
<th style="FONT-FAMILY: times" align="right" colspan="5">
<font size="1"><i>Nine Months Ended<br />
September 30, 2009</i></font><br /></th>
<th style="FONT-FAMILY: times">
<font size="1"> </font></th></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="bottom">
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times"
align="center" colspan="22"> </th>
<th style="FONT-FAMILY: times"> </th></tr>
<tr style="HEIGHT: 0px" valign="bottom">
<th style="FONT-FAMILY: times" align="left" colspan="2">
<font size="1"> </font><br /></th>
<th style="FONT-FAMILY: times"><font size="1"> </font></th>
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times"
align="center" colspan="5"><font size="1">Gain (Loss) Recorded in
AOCI</font></th>
<th style="FONT-FAMILY: times"><font size="1"> </font></th>
<th style="FONT-FAMILY: times" align="left">
<font size="1"> </font><br /></th>
<th style="FONT-FAMILY: times"><font size="1"> </font></th>
<th style="FONT-FAMILY: times" align="left" colspan="2">
<font size="1"> </font><br /></th>
<th style="FONT-FAMILY: times"><font size="1"> </font></th>
<th style="FONT-FAMILY: times" align="left" colspan="2">
<font size="1"> </font><br /></th>
<th style="FONT-FAMILY: times"><font size="1"> </font></th>
<th style="FONT-FAMILY: times" align="left" colspan="2">
<font size="1"> </font><br /></th>
<th style="FONT-FAMILY: times"><font size="1"> </font></th>
<th style="FONT-FAMILY: times" align="left" colspan="2">
<font size="1"> </font><br /></th>
<th style="FONT-FAMILY: times">
<font size="1"> </font></th></tr>
<tr style="HEIGHT: 0px" valign="bottom">
<th style="FONT-FAMILY: times" align="left" colspan="2">
<font size="1">Contract type:</font><br /></th>
<th style="FONT-FAMILY: times"><font size="1"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="2">
<font size="1">Quarter Ended<br />
September 30,<br />
2009</font><br /></th>
<th style="FONT-FAMILY: times"><font size="1"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="2">
<font size="1">Nine Months<br />
Ended<br />
September 30,<br />
2009</font><br /></th>
<th style="FONT-FAMILY: times"><font size="1"> </font></th>
<th style="FONT-FAMILY: times" align="center">
<font size="1">Statement of Income<br />
(Loss) Line Item</font><br /></th>
<th style="FONT-FAMILY: times"><font size="1"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="2">
<font size="1">Gain (Loss)<br />
Reclassified<br />
from AOCI<br />
into Earnings</font><br /></th>
<th style="FONT-FAMILY: times"><font size="1"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="2">
<font size="1">Ineffectiveness<br />
Gain (Loss)<br />
Recorded<br />
in Earnings</font><br /></th>
<th style="FONT-FAMILY: times"><font size="1"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="2">
<font size="1">Gain (Loss)<br />
Reclassified<br />
from AOCI<br />
into Earnings</font><br /></th>
<th style="FONT-FAMILY: times"><font size="1"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="2">
<font size="1">Ineffectiveness<br />
Gain (Loss)<br />
Recorded<br />
in Earnings</font><br /></th>
<th style="FONT-FAMILY: times">
<font size="1"> </font></th></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="bottom">
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times"
align="center" colspan="22"> </th>
<th style="FONT-FAMILY: times"> </th></tr>
<tr style="HEIGHT: 0px" valign="bottom">
<th style="FONT-FAMILY: times" align="left" colspan="2">
<font size="1"> </font><br /></th>
<th style="FONT-FAMILY: times"><font size="1"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="19">
<font size="1"><i>(In millions)</i></font><br /></th>
<th style="FONT-FAMILY: times">
<font size="1"> </font></th></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: times" colspan="2">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Hedges of forecasted sales:</font></p></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1">Nonregulated
revenues</font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times">
<font size="1"> </font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: times"><font size="0"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Power contracts</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">47.0</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">309.2</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(44.4</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">4.4</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(174.0</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">85.4</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: times"><font size="0"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Gas contracts</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(1.8</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(25.7</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(15.3</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(1.8</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(37.3</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">4.7</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: times"><font size="0"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Coal contracts</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">—</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">10.0</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">—</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">—</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(229.9</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">—</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: times"><font size="0"> </font></td>
<td style="FONT-FAMILY: times">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Other commodity
contracts<sup>1</sup></font></p></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1">1.2</font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1">7.8</font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1">1.3</font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1">(1.1</font></td>
<td style="FONT-FAMILY: times"><font size="1">)</font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1">(2.3</font></td>
<td style="FONT-FAMILY: times"><font size="1">)</font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1">(6.2</font></td>
<td style="FONT-FAMILY: times"><font size="1">)</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: times" valign="bottom" colspan="2">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Interest rate contracts</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">—</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(0.3</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(0.4</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">—</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(0.6</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">—</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: times" colspan="2">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Foreign exchange contracts</font></p></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1">—</font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1">0.3</font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1">—</font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1">—</font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1">(0.9</font></td>
<td style="FONT-FAMILY: times"><font size="1">)</font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1">—</font></td>
<td style="FONT-FAMILY: times">
<font size="1"> </font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times"
valign="bottom" colspan="22"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: times" valign="bottom" colspan="2">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Total gains (losses)</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">46.4</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">301.3</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom"><font size="1">Total
included in nonregulated revenues</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(58.8</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">1.5</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(445.0</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">83.9</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times"
valign="bottom" colspan="22"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: times" valign="bottom" colspan="2">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Hedges of forecasted purchases:</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom"><font size="1">Fuel
and purchased energy expense</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: times"><font size="0"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Power contracts</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(104.6</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(991.4</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(452.5</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(5.8</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(1,490.9</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(35.3</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: times"><font size="0"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Gas contracts</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(30.6</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">123.9</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">14.5</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(5.3</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">107.2</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(2.7</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: times"><font size="0"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Coal contracts</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">43.4</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(81.7</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(69.8</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(3.6</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(135.1</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(6.5</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: times"><font size="0"> </font></td>
<td style="FONT-FAMILY: times">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Other commodity
contracts<sup>2</sup></font></p></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1">(6.9</font></td>
<td style="FONT-FAMILY: times"><font size="1">)</font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1">(9.0</font></td>
<td style="FONT-FAMILY: times"><font size="1">)</font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1">(7.5</font></td>
<td style="FONT-FAMILY: times"><font size="1">)</font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1">—</font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1">15.6</font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1">—</font></td>
<td style="FONT-FAMILY: times">
<font size="1"> </font></td></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="white">
<td style="FONT-FAMILY: times" colspan="2">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Foreign exchange contracts</font></p></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1">1.0</font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1">1.1</font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1">(0.1</font></td>
<td style="FONT-FAMILY: times"><font size="1">)</font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1">—</font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1">—</font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1">—</font></td>
<td style="FONT-FAMILY: times">
<font size="1"> </font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times"
valign="bottom" colspan="22"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: times" valign="bottom" colspan="2">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Total losses</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(97.7</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(957.1</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom"><font size="1">Total
included in fuel and purchased energy expense</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(515.4</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(14.7</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(1,503.2</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(44.5</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times"
valign="bottom" colspan="22"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="white">
<td style="FONT-FAMILY: times" colspan="2">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Hedges of interest rates:</font></p></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1">Interest
expense</font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times">
<font size="1"> </font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: times"><font size="0"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Interest rate contracts</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">—</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">—</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(0.2</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">—</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">—</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">—</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times"
valign="bottom" colspan="22"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: times" valign="bottom" colspan="2">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Total losses</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">—</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">—</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom"><font size="1">Total
included in interest expense</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(0.2</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">—</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">—</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">—</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times"
valign="bottom" colspan="22"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: times" colspan="2">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Grand total (losses) gains</font></p></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1">(51.3</font></td>
<td style="FONT-FAMILY: times"><font size="1">)</font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1">(655.8</font></td>
<td style="FONT-FAMILY: times"><font size="1">)</font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times"><font size="1"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1">(574.0</font></td>
<td style="FONT-FAMILY: times"><font size="1">)</font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1">(13.2</font></td>
<td style="FONT-FAMILY: times"><font size="1">)</font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1">(1,948.2</font></td>
<td style="FONT-FAMILY: times"><font size="1">)</font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="1">39.4</font></td>
<td style="FONT-FAMILY: times">
<font size="1"> </font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times"
valign="bottom" colspan="22"> </td>
<td style="FONT-FAMILY: times" valign="bottom">
</td></tr></table></div>
<!-- end of user-specified TAGGED TABLE --></div>
<div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 10%; PADDING-TOP: 0pt; POSITION: relative; TEXT-ALIGN: left">
<p style="FONT-FAMILY: times"><font size="2"><i>1 Other
commodity sale contracts include oil and freight contracts.<br />
2 Other commodity purchase contracts include freight and emission
allowances.</i></font></p></div>
<p style="FONT-FAMILY: times">
<font size="2"> The
following table presents gains and losses on derivatives designated
as fair value hedges and, separately, the gains and losses on the
hedged item. As discussed earlier, we record the unrealized gains
and losses on fair value hedges as well as changes in the fair
value of the hedged asset or liability in earnings as they occur.
The difference between these amounts represents hedge
ineffectiveness. Due to the sale of our Houston-based gas trading
operation, we do not have any third quarter activity under fair
value hedges related to gas contracts.</font></p>
<div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 10%; WIDTH: 80%; PADDING-TOP: 0pt; POSITION: relative">
<p style="FONT-FAMILY: times"><font size="1">
<!-- COMMAND=ADD_TABLEWIDTH,"100%" --></font></p>
<!-- User-specified TAGGED TABLE -->
<div align="center">
<table cellspacing="0" cellpadding="0" width="100%" border="0">
<tr style="HEIGHT: 0px"><!-- TABLE COLUMN WIDTHS SET -->
<td style="FONT-FAMILY: times" align="left" width="8"></td>
<td style="FONT-FAMILY: times" align="left" width="22%"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<td style="FONT-FAMILY: times" align="left" width="25%"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<td style="FONT-FAMILY: times" align="right" width="6"></td>
<td style="FONT-FAMILY: times" width="60"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<td style="FONT-FAMILY: times" align="right" width="6"></td>
<td style="FONT-FAMILY: times" width="60"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<td style="FONT-FAMILY: times" align="right" width="6"></td>
<td style="FONT-FAMILY: times" width="60"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<td style="FONT-FAMILY: times" align="right" width="6"></td>
<td style="FONT-FAMILY: times" width="60"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<!-- TABLE COLUMN WIDTHS END --></tr>
<tr style="HEIGHT: 0px" valign="bottom">
<th style="FONT-FAMILY: times" align="left" colspan="4">
<font size="1">Fair Value Hedges</font><br /></th>
<th style="FONT-FAMILY: times"><font size="1"> </font></th>
<th style="FONT-FAMILY: times" align="right" colspan="5">
<font size="1"><i>Quarter Ended<br />
September 30, 2009</i></font><br /></th>
<th style="FONT-FAMILY: times"><font size="1"> </font></th>
<th style="FONT-FAMILY: times" align="right" colspan="5">
<font size="1"><i>Nine Months Ended<br />
September 30, 2009</i></font><br /></th>
<th style="FONT-FAMILY: times">
<font size="1"> </font></th></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="bottom">
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times"
align="center" colspan="16"> </th>
<th style="FONT-FAMILY: times"> </th></tr>
<tr style="HEIGHT: 0px" valign="bottom">
<th style="FONT-FAMILY: times" align="left" colspan="2">
<font size="1">Contract type:</font><br /></th>
<th style="FONT-FAMILY: times"><font size="1"> </font></th>
<th style="FONT-FAMILY: times" align="center">
<font size="1">Statement of Income (Loss) Line
Item</font><br /></th>
<th style="FONT-FAMILY: times"><font size="1"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="2">
<font size="1">Gain (Loss)<br />
Recognized in<br />
Income on<br />
Derivative</font><br /></th>
<th style="FONT-FAMILY: times"><font size="1"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="2">
<font size="1">Gain (Loss)<br />
Recognized in<br />
Income on<br />
Hedged Item</font><br /></th>
<th style="FONT-FAMILY: times"><font size="1"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="2">
<font size="1">Gain (Loss)<br />
Recognized in<br />
Income on<br />
Derivative</font><br /></th>
<th style="FONT-FAMILY: times"><font size="1"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="2">
<font size="1">Gain (Loss)<br />
Recognized in<br />
Income on<br />
Hedged Item</font><br /></th>
<th style="FONT-FAMILY: times">
<font size="1"> </font></th></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="bottom">
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times"
align="center" colspan="16"> </th>
<th style="FONT-FAMILY: times"> </th></tr>
<tr style="HEIGHT: 0px" valign="bottom">
<th style="FONT-FAMILY: times" align="left" colspan="2">
<font size="1"> </font><br /></th>
<th style="FONT-FAMILY: times"><font size="1"> </font></th>
<th style="FONT-FAMILY: times" align="left">
<font size="1"> </font><br /></th>
<th style="FONT-FAMILY: times"><font size="1"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="11">
<font size="1"><i>(In millions)</i></font><br /></th>
<th style="FONT-FAMILY: times">
<font size="1"> </font></th></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: times" valign="bottom" colspan="2">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Commodity contracts:</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: times"><font size="0"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Gas contracts</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times"
align="left"><font size="1">Nonregulated revenues</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">—</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">—</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">40.6</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(16.7</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: times" valign="bottom" colspan="2">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Interest rate contracts</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times"
align="left"><font size="1">Interest expense</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">21.8</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(21.5</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">6.3</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(6.0</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times"
valign="bottom" colspan="16"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: times" valign="bottom" colspan="2">
<p style="MARGIN-LEFT: 8pt; TEXT-INDENT: -8pt; FONT-FAMILY: times">
<font size="1">Total gains (losses)</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">21.8</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(21.5</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">46.9</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="1">(22.7</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="1">)</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times"
valign="bottom" colspan="16"> </td>
<td style="FONT-FAMILY: times" valign="bottom">
</td></tr></table></div>
<!-- end of user-specified TAGGED TABLE --></div>
<p style="FONT-FAMILY: times">
<font size="2"> The
following table presents gains and losses on mark-to-market
derivatives, contracts that have not been designated as hedges for
accounting purposes. As discussed more fully in</font>
<font size="2"><i>Note 1</i></font> <font size="2">to our 2008
Annual Report on Form 10-K, we record the unrealized gains and
losses on mark-to-market derivatives in earnings as they occur.
While we use mark-to-market accounting for risk management and
trading activities because changes in fair value more closely
reflect the economic performance of the activity, we also use
mark-to-market accounting for certain derivatives related to
portions of our physical energy delivery activities. Accordingly,
the total amount of gains and losses from mark-to-market
derivatives does not necessarily reflect the total economics of
related transactions.</font></p>
<div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 10%; WIDTH: 80%; PADDING-TOP: 0pt; POSITION: relative">
<p style="FONT-FAMILY: times"><font size="2">
<!-- COMMAND=ADD_TABLEWIDTH,"100%" --></font></p>
<!-- User-specified TAGGED TABLE -->
<div align="center">
<table cellspacing="0" cellpadding="0" width="100%" border="0">
<tr style="HEIGHT: 0px"><!-- TABLE COLUMN WIDTHS SET -->
<td style="FONT-FAMILY: times" align="left" width="10"></td>
<td style="FONT-FAMILY: times" align="left" width="29%"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<td style="FONT-FAMILY: times" align="left" width="29%"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<td style="FONT-FAMILY: times" align="right" width="6"></td>
<td style="FONT-FAMILY: times" width="98"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<td style="FONT-FAMILY: times" align="right" width="6"></td>
<td style="FONT-FAMILY: times" width="100"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<!-- TABLE COLUMN WIDTHS END --></tr>
<tr style="HEIGHT: 0px" valign="bottom">
<th style="FONT-FAMILY: times" align="left" colspan="2">
<font size="2">Mark-to-Market Derivatives</font><br /></th>
<th style="FONT-FAMILY: times"><font size="2"> </font></th>
<th style="FONT-FAMILY: times" align="left">
<font size="2"> </font><br /></th>
<th style="FONT-FAMILY: times"><font size="2"> </font></th>
<th style="FONT-FAMILY: times" align="right" colspan="2">
<font size="2"><i>Quarter Ended<br />
September 30, 2009</i></font><br /></th>
<th style="FONT-FAMILY: times"><font size="2"> </font></th>
<th style="FONT-FAMILY: times" align="right" colspan="2">
<font size="2"><i>Nine Months Ended<br />
September 30, 2009</i></font><br /></th>
<th style="FONT-FAMILY: times">
<font size="2"> </font></th></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="bottom">
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times"
align="center" colspan="10"> </th>
<th style="FONT-FAMILY: times"> </th></tr>
<tr style="HEIGHT: 0px" valign="bottom">
<th style="FONT-FAMILY: times" align="left" colspan="2">
<font size="2">Contract type:</font><br /></th>
<th style="FONT-FAMILY: times"><font size="2"> </font></th>
<th style="FONT-FAMILY: times" align="center">
<font size="2">Statement of Income (Loss) Line
Item</font><br /></th>
<th style="FONT-FAMILY: times"><font size="2"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="5">
<font size="2">Gain (Loss) Recorded in Income</font><br /></th>
<th style="FONT-FAMILY: times">
<font size="2"> </font></th></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="bottom">
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times"
align="center" colspan="10"> </th>
<th style="FONT-FAMILY: times"> </th></tr>
<tr style="HEIGHT: 0px" valign="bottom">
<th style="FONT-FAMILY: times" align="left" colspan="2">
<font size="2"> </font><br /></th>
<th style="FONT-FAMILY: times"><font size="2"> </font></th>
<th style="FONT-FAMILY: times" align="left">
<font size="2"> </font><br /></th>
<th style="FONT-FAMILY: times"><font size="2"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="5">
<font size="2"><i>(In millions)</i></font><br /></th>
<th style="FONT-FAMILY: times">
<font size="2"> </font></th></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: times" valign="bottom" colspan="2">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times">
<font size="2">Commodity contracts:</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: times"><font size="0"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times">
<font size="2">Power contracts</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times"
align="left"><font size="2">Nonregulated
revenues</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">65.4</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">212.4</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: times"><font size="0"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times">
<font size="2">Gas contracts</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times"
align="left"><font size="2">Nonregulated
revenues</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">(73.6</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">(353.1</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2">)</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: times"><font size="0"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times">
<font size="2">Coal contracts</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times"
align="left"><font size="2">Nonregulated
revenues</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">3.1</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">12.9</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: times"><font size="0"> </font></td>
<td style="FONT-FAMILY: times">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times">
<font size="2">Other commodity
contracts<sup>1</sup></font></p></td>
<td style="FONT-FAMILY: times"><font size="2"> </font></td>
<td style="FONT-FAMILY: times">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times"
align="left"><font size="2">Nonregulated
revenues</font></p></td>
<td style="FONT-FAMILY: times"><font size="2"> </font></td>
<td style="FONT-FAMILY: times"><font size="2"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="2">(4.5</font></td>
<td style="FONT-FAMILY: times"><font size="2">)</font></td>
<td style="FONT-FAMILY: times"><font size="2"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="2">(4.1</font></td>
<td style="FONT-FAMILY: times"><font size="2">)</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: times"><font size="0"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times">
<font size="2">Coal contracts</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times"
align="left"><font size="2">Fuel and purchased energy
expense</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">(2.1</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">(109.8</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2">)</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: times" valign="bottom" colspan="2">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times">
<font size="2">Interest rate contracts</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times"
align="left"><font size="2">Nonregulated
revenues</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">(6.3</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">(26.9</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2">)</font></td></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="white">
<td style="FONT-FAMILY: times" colspan="2">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times">
<font size="2">Foreign exchange contracts</font></p></td>
<td style="FONT-FAMILY: times"><font size="2"> </font></td>
<td style="FONT-FAMILY: times">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times"
align="left"><font size="2">Nonregulated
revenues</font></p></td>
<td style="FONT-FAMILY: times"><font size="2"> </font></td>
<td style="FONT-FAMILY: times"><font size="2"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="2">1.8</font></td>
<td style="FONT-FAMILY: times"><font size="2"> </font></td>
<td style="FONT-FAMILY: times"><font size="2"> </font></td>
<td style="FONT-FAMILY: times" align="right">
<font size="2">11.5</font></td>
<td style="FONT-FAMILY: times">
<font size="2"> </font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times"
valign="bottom" colspan="10"> </td>
<td style="FONT-FAMILY: times" valign="bottom"> </td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: times" valign="bottom" colspan="2">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times">
<font size="2">Total gains (losses)</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">(16.2</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">(257.1</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2">)</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times"
valign="bottom" colspan="10"> </td>
<td style="FONT-FAMILY: times" valign="bottom">
</td></tr></table></div>
<!-- end of user-specified TAGGED TABLE --></div>
<div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 10%; PADDING-TOP: 0pt; POSITION: relative; TEXT-ALIGN: left">
<p style="FONT-FAMILY: times"><font size="2"><i>1 Other
commodity contracts for the quarter ended September 30, 2009
include oil, weather, and emission allowances. For the nine months
ended September 30, 2009, other commodity contracts also
include freight and uranium.</i></font></p></div>
<p style="FONT-FAMILY: times">
<font size="2"> In
computing the amounts of derivative gains and losses in the above
tables, we include the changes in fair values of derivative
contracts up to the date of maturity or settlement of each
contract. This approach facilitates a comparable presentation for
both financial and physical derivative contracts. In addition, for
cash flow hedges we include the impact of intra-quarter
transactions (i.e., those that arise and settle within the
same quarter) in both gains and losses recognized in Accumulated
Other Comprehensive Loss and amounts reclassified from Accumulated
Other Comprehensive Loss into earnings.</font></p>
<p style="FONT-FAMILY: times"><font size="2"><i>Volume of
Derivative Activity</i></font></p>
<p style="FONT-FAMILY: times"><font size="2">The volume of our
derivatives activity is directly related to the fundamental nature
and scope of our business and the risks we manage. We own or
control electric generating facilities, which exposes us to both
power and fuel price risk; we serve electric and gas wholesale and
retail customers within our customer supply business, which exposes
us to electricity and natural gas price risk; and we provide risk
management services and engage in trading activities, which can
expose us to a variety of commodity price risks. We conduct our
business activities throughout the United States and
internationally. In order to manage the risks associated with these
activities, we are required to be an active participant in the
energy markets, and we routinely employ derivative instruments to
conduct our business.</font></p>
<p style="FONT-FAMILY: times">
<font size="2"> Derivative
instruments provide an efficient and effective way to conduct our
business and to manage the associated risks. We manage our
generating resources and customer supply activities based upon
established policies and limits, and we use derivatives to
establish a portion of our hedges and to adjust the level of our
hedges from time to time. Additionally, we engage in trading
activities which enable us to execute hedging transactions in a
cost-effective manner. We manage those activities based upon
various risk measures, including position limits, economic value at
risk (EVaR) and value at risk (VaR), and we use derivatives to
establish and maintain those activities within the prescribed
limits. We are also using derivatives to execute, control, and
reduce the overall level of our trading positions and risk as well
as to manage a portion of our interest rate risk associated with
debt and our foreign currency risk from non-dollar denominated
transactions. Accordingly, the use of derivative instruments is
integral to the conduct of our business, and derivative instruments
are an important tool through which we are able to manage and
mitigate the risks that are inherent in our activities.</font></p>
<p style="FONT-FAMILY: times">
<font size="2"> The
following table presents information designed to provide insight
into the overall volume of our derivatives usage. However, the
volumes presented in this table are subject to a number of
limitations and should only be used as an indication of the extent
of our derivatives usage and the risks they are intended to
manage.</font></p>
<p style="FONT-FAMILY: times">
<font size="2"> First,
the volume information is not a complete representation of our
market price risk because it only includes derivative contracts.
Accordingly, this table does not present a complete picture of our
overall net economic exposure, and should not be interpreted as an
indication of open or unhedged commodity positions, because the use
of derivatives is only one of the means by which we engage in and
manage the risks of our business. For example, the table does not
include power or fuel quantities and risks arising from our
physical assets, non-derivative contracts, and forecasted
transactions that we manage using derivatives; a portion of these
volumes reduce those risks. It also does not include volumes of
commodities under nonderivative contracts that we use to serve
customers or manage our risks. Our actual net economic exposure
from our generating facilities and customer supply activities is
reduced by derivatives, and the exposure from our trading
activities is managed and controlled through</font>
<font size="2">the risk measures discussed above. Therefore, the
information in the table below is only an indication of that
portion of our business that we manage through derivatives and
serves primarily to identify the extent of our derivatives
activities and the types of risks that they are intended to
manage.</font></p>
<p style="FONT-FAMILY: times">
<font size="2"> Additionally,
the disclosure of derivative quantities potentially could reveal
commercially valuable or otherwise competitively sensitive
information that could limit the effectiveness and profitability of
our business activities. Therefore, in the table below, we have
computed the derivative volumes for commodities by aggregating the
absolute value of net open long (purchase) and short (sell)
positions within commodities for each year. This provides an
indication of the level of derivatives activity, but it does not
indicate either the direction of our position (long or short), or
the overall size of our position. We believe this presentation
gives an appropriate indication of the level of derivatives
activity without unnecessarily revealing the size and direction of
our derivatives positions.</font></p>
<p style="FONT-FAMILY: times">
<font size="2"> Finally,
the volume information for commodity derivatives represents "delta
equivalent" quantities, not gross notional amounts. We make use of
different types of commodity derivative instruments such as
forwards, futures, options, and swaps, and we believe that the
delta equivalent quantity is the most relevant measure of the
volume associated with these commodity derivatives. The
delta-equivalent quantity represents a risk-adjusted notional
quantity for each contract that takes into account the probability
that an option will be exercised. Therefore, the volume information
for commodity derivatives represents the delta equivalent quantity
of those contracts, computed on the basis described above. For
interest rate contracts and foreign currency contracts we have
presented the notional amounts of such contracts in the table
below.</font></p>
<p style="FONT-FAMILY: times">
<font size="2"> The
following table presents the volume of our derivative activities as
of September 30, 2009, shown by contractual settlement
year.</font></p>
<div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 10%; WIDTH: 67%; PADDING-TOP: 0pt; POSITION: relative">
<p style="FONT-FAMILY: times"><font size="2">
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<table cellspacing="0" cellpadding="0" width="120%" border="0">
<tr style="HEIGHT: 0px"><!-- TABLE COLUMN WIDTHS SET -->
<td style="FONT-FAMILY: times" align="left"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<td style="FONT-FAMILY: times" align="right" width="6"></td>
<td style="FONT-FAMILY: times" width="35"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<td style="FONT-FAMILY: times" align="right" width="6"></td>
<td style="FONT-FAMILY: times" width="35"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<td style="FONT-FAMILY: times" align="right" width="6"></td>
<td style="FONT-FAMILY: times" width="28"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<td style="FONT-FAMILY: times" align="right" width="6"></td>
<td style="FONT-FAMILY: times" width="35"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<td style="FONT-FAMILY: times" align="right" width="6"></td>
<td style="FONT-FAMILY: times" width="28"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<td style="FONT-FAMILY: times" align="right" width="6"></td>
<td style="FONT-FAMILY: times" width="51"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<td style="FONT-FAMILY: times" align="right" width="6"></td>
<td style="FONT-FAMILY: times" width="42"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<!-- TABLE COLUMN WIDTHS END --></tr>
<tr style="HEIGHT: 0px" valign="bottom">
<th style="FONT-FAMILY: times" align="left" colspan="4">
<font size="2">Quantities<sup>1</sup> Under Derivative
Contracts</font><br /></th>
<th style="FONT-FAMILY: times"><font size="2"> </font></th>
<th style="FONT-FAMILY: times" align="left" colspan="2">
<font size="2"> </font><br /></th>
<th style="FONT-FAMILY: times"><font size="2"> </font></th>
<th style="FONT-FAMILY: times" align="left" colspan="2">
<font size="2"> </font><br /></th>
<th style="FONT-FAMILY: times"><font size="2"> </font></th>
<th style="FONT-FAMILY: times" align="left" colspan="2">
<font size="2"> </font><br /></th>
<th style="FONT-FAMILY: times"><font size="2"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="8">
<font size="2"><i>As of September 30,
2009</i></font><br /></th>
<th style="FONT-FAMILY: times">
<font size="2"> </font></th></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="bottom">
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times"
align="center" colspan="22"> </th>
<th style="FONT-FAMILY: times"> </th></tr>
<tr style="HEIGHT: 0px" valign="bottom">
<th style="FONT-FAMILY: times" align="left"><font size="2">Contract
Type (Unit)</font><br /></th>
<th style="FONT-FAMILY: times"><font size="2"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="2">
<font size="2">2009</font><br /></th>
<th style="FONT-FAMILY: times"><font size="2"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="2">
<font size="2">2010</font><br /></th>
<th style="FONT-FAMILY: times"><font size="2"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="2">
<font size="2">2011</font><br /></th>
<th style="FONT-FAMILY: times"><font size="2"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="2">
<font size="2">2012</font><br /></th>
<th style="FONT-FAMILY: times"><font size="2"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="2">
<font size="2">2013</font><br /></th>
<th style="FONT-FAMILY: times"><font size="2"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="2">
<font size="2">Thereafter</font><br /></th>
<th style="FONT-FAMILY: times"><font size="2"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="2">
<font size="2">Total</font><br /></th>
<th style="FONT-FAMILY: times">
<font size="2"> </font></th></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="bottom">
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times"
align="center" colspan="22"> </th>
<th style="FONT-FAMILY: times"> </th></tr>
<tr style="HEIGHT: 0px" valign="bottom">
<th style="FONT-FAMILY: times" align="left">
<font size="2"> </font><br /></th>
<th style="FONT-FAMILY: times"><font size="2"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="20">
<font size="2"><i>(In millions)</i></font><br /></th>
<th style="FONT-FAMILY: times">
<font size="2"> </font></th></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: times" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times">
<font size="2">Power (MWh)</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">10.1</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">28.8</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">16.0</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">2.4</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">1.2</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">1.2</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">59.7</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: times" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times">
<font size="2">Gas (MMBTU)</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">20.6</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">34.7</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">42.5</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">8.0</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">9.9</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">44.3</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">160.0</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: times" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times">
<font size="2">Coal (Tons)</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">1.9</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">4.2</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">2.6</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">—</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">—</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">—</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">8.7</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: times" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times">
<font size="2">Oil (BBL)</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">0.1</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">—</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">—</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">—</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">—</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">—</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">0.1</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: times" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times">
<font size="2">Emission Allowances (Tons)</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">10.0</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">0.2</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">—</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">—</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">—</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">—</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">10.2</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: times" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times">
<font size="2">Interest Rate Contracts</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">795.1</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">944.4</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">45.6</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">629.5</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">93.2</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">425.0</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">2,932.8</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: times" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: times">
<font size="2">Foreign Exchange Rate Contracts</font></p></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">4.2</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">51.1</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">58.5</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">16.7</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">16.7</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">32.3</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">179.5</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times"
valign="bottom" colspan="22"> </td>
<td style="FONT-FAMILY: times" valign="bottom">
</td></tr></table></div>
<!-- end of user-specified TAGGED TABLE --></div>
<div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 10%; PADDING-TOP: 0pt; POSITION: relative; TEXT-ALIGN: left">
<p style="FONT-FAMILY: times"><font size="2"><i>1 Amounts in the
table are only intended to provide an indication of the level of
derivatives activity and should not be interpreted as a measure of
any derivative position or overall economic exposure to market
risk. Quantities are expressed as "delta equivalents" on an
absolute value basis by contract type by year. Additionally,
quantities relate only to derivatives and do not include
potentially offsetting quantities associated with physical assets
and nonderivative accrual contracts.</i></font></p></div>
<p style="FONT-FAMILY: times">
<font size="2"> In
addition to the commodities in the tables above, we also hold
derivative instruments related to weather and freight that are
insignificant relative to the overall level of our derivative
activity.</font></p>
<p style="FONT-FAMILY: times"><font size="2"><i>Credit-Risk Related
Contingent Features</i></font></p>
<p style="FONT-FAMILY: times"><font size="2">Certain of our
derivative instruments contain provisions that would require
additional collateral upon a credit-related event such as an
adequate assurance provision or a credit rating decrease in the
senior unsecured debt of Constellation Energy. The amount of
collateral we could be required to post would be determined by the
fair value of contracts containing such provisions that represent a
net liability, after offset for the fair value of any asset
contracts with the same counterparty under master netting
agreements and any other collateral already posted. This collateral
amount is a component of, and is not in addition to, the total
collateral we could be required to post for all contracts upon a
credit rating decrease.</font></p>
<p style="FONT-FAMILY: times">
<font size="2"> The
following table presents information related to these derivatives.
Based on contractual provisions, we estimate that if Constellation
Energy's senior unsecured debt were downgraded, our total
contingent collateral obligation for derivatives in a net liability
position was $0.2 billion as of September 30, 2009, which
represents the additional collateral that we could be required to
post with counterparties, including both cash collateral and
letters of credit, in the event of a credit downgrade to below
investment grade. These amounts are associated with net derivative
liabilities totaling $1.2 billion after reflecting legally
binding master netting agreements and collateral already
posted.</font></p>
<p style="FONT-FAMILY: times">
<font size="2"> We
present the gross fair value of derivatives in a net liability
position that have credit-risk-related contingent features in the
first column in the table below. This gross fair value amount
represents only the out-of-the-money contracts containing such
features that are not fully collateralized by cash on a stand-alone
basis. Thus, this amount does not reflect the offsetting fair value
of in-the-money contracts under legally-binding master netting
agreements with the same counterparty, as shown in the second
column in the table. These in-the-money contracts would offset the
amount of any gross liability that could be required to be
collateralized, and as a result, the actual potential collateral
requirements would be based upon the net fair value of derivatives
containing such features, not the gross amount. The amount of any
possible contingent collateral for such contracts in the event of a
downgrade would be further reduced to the extent that we have
already posted collateral related to the net liability.</font></p>
<p style="FONT-FAMILY: times">
<font size="2"> Because
the amount of any contingent collateral obligation would be based
on the net fair value of all derivative contracts under each master
netting agreement, we believe that the "net fair value of
derivative contracts containing this feature" as shown in the table
below is the most relevant measure of derivatives in a net
liability position with credit-risk-related contingent features.
This amount reflects the actual net liability upon which existing
collateral postings are computed and upon which any additional
contingent collateral obligation would be based.</font></p>
<div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 10%; WIDTH: 54%; PADDING-TOP: 0pt; POSITION: relative">
<p style="FONT-FAMILY: times"><font size="2">
<!-- COMMAND=ADD_TABLEWIDTH,"150%" --></font></p>
<!-- User-specified TAGGED TABLE -->
<div align="center">
<table cellspacing="0" cellpadding="0" width="150%" border="0">
<tr style="HEIGHT: 0px"><!-- TABLE COLUMN WIDTHS SET -->
<td style="FONT-FAMILY: times" align="right" width="6"></td>
<td style="FONT-FAMILY: times" align="right" width="105"></td>
<td style="FONT-FAMILY: times" width="6%"></td>
<td style="FONT-FAMILY: times" align="right" width="6"></td>
<td style="FONT-FAMILY: times" width="116"></td>
<td style="FONT-FAMILY: times" width="6%"></td>
<td style="FONT-FAMILY: times" align="right" width="6"></td>
<td style="FONT-FAMILY: times" width="105"></td>
<td style="FONT-FAMILY: times" width="6%"></td>
<td style="FONT-FAMILY: times" align="right" width="6"></td>
<td style="FONT-FAMILY: times" width="55"></td>
<td style="FONT-FAMILY: times" width="6%"></td>
<td style="FONT-FAMILY: times" align="right" width="6"></td>
<td style="FONT-FAMILY: times" width="59"></td>
<td style="FONT-FAMILY: times" width="12"></td>
<!-- TABLE COLUMN WIDTHS END --></tr>
<tr style="HEIGHT: 0px" valign="bottom">
<th style="FONT-FAMILY: times" align="left" colspan="8">
<font size="2">Credit-Risk Related Contingent
Feature</font><br /></th>
<th style="FONT-FAMILY: times"><font size="2"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="5">
<font size="2"><i>As of September 30,
2009</i></font><br /></th>
<th style="FONT-FAMILY: times">
<font size="2"> </font></th></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="bottom">
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times"
align="center" colspan="14"> </th>
<th style="FONT-FAMILY: times"> </th></tr>
<tr style="HEIGHT: 0px" valign="bottom">
<th style="FONT-FAMILY: times" align="center" colspan="2">
<font size="2">Gross Fair Value<br />
of Derivative<br />
Contracts Containing<br />
This Feature<sup>1</sup></font><br /></th>
<th style="FONT-FAMILY: times"><font size="2"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="2">
<font size="2">Offsetting Fair Value<br />
of In-the-Money<br />
Contracts Under Master<br />
Netting Agreements<sup>2</sup></font><br /></th>
<th style="FONT-FAMILY: times"><font size="2"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="2">
<font size="2">Net Fair Value<br />
of Derivative<br />
Contracts Containing<br />
This Feature<sup>3</sup></font><br /></th>
<th style="FONT-FAMILY: times"><font size="2"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="2">
<font size="2">Amount of<br />
Posted<br />
Collateral<sup>4</sup></font><br /></th>
<th style="FONT-FAMILY: times"><font size="2"> </font></th>
<th style="FONT-FAMILY: times" align="center" colspan="2">
<font size="2">Contingent<br />
Collateral<br />
Obligation<sup>5</sup></font><br /></th>
<th style="FONT-FAMILY: times">
<font size="2"> </font></th></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="bottom">
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times"
align="center" colspan="14"> </th>
<th style="FONT-FAMILY: times"> </th></tr>
<tr style="HEIGHT: 0px" valign="bottom">
<th style="FONT-FAMILY: times" align="center" colspan="14">
<font size="2"><i>(In billions)</i></font><br /></th>
<th style="FONT-FAMILY: times">
<font size="2"> </font></th></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">12.2</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">(11.0</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2">)</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">1.2</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">0.8</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">$</font></td>
<td style="FONT-FAMILY: times" valign="bottom" align="right">
<font size="2">0.2</font></td>
<td style="FONT-FAMILY: times" valign="bottom">
<font size="2"> </font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times"
valign="bottom" align="right" colspan="14"> </td>
<td style="FONT-FAMILY: times" valign="bottom">
</td></tr></table></div>
<!-- end of user-specified TAGGED TABLE --></div>
<div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 10%; PADDING-TOP: 0pt; POSITION: relative; TEXT-ALIGN: left">
<p style="FONT-FAMILY: times"><font size="2"><i>1 Amount represents
the gross fair value of out-of-the-money derivative contracts
containing credit-risk-related contingent features that are not
fully collateralized by posted cash collateral on an individual,
contract-by-contract basis ignoring the effects of master netting
agreements.</i></font><br />
<font size="2"><i>2 Amount represents the offsetting fair value of
in-the-money derivative contracts under legally-enforceable master
netting agreements with the same counterparty, which reduces the
amount of any liability for which we potentially could be required
to post collateral.</i></font><br />
<font size="2"><i>3 Amount represents the net fair value of
out-of-the-money derivative contracts containing credit-risk
related contingent features after considering the mitigating
effects of offsetting positions under master netting arrangements
and reflects the actual net liability upon which any potential
contingent collateral obligations would be based.</i></font><br />
<font size="2"><i>4 Amount includes cash collateral posted of
$99.4 million and letters of credit of
$691.1 million.</i></font><br />
<font size="2"><i>5 Amounts represent the additional collateral
that we could be required to post with counterparties, including
both cash collateral and letters of credit, in the event of a
credit downgrade to below investment grade after giving
consideration to offsetting derivative and non-derivative positions
under master netting agreements.</i></font></p></div>
<p style="FONT-FAMILY: times"><font size="2"><i>Concentrations of
Derivative-Related Credit Risk</i></font></p>
<p style="FONT-FAMILY: times"><font size="2">Constellation Energy's
wholesale and retail credit risk management policies establish the
guidelines under which we extend unsecured credit to counterparties
and customers. Based on the counterparty analysis and limits
established by Constellation Energy, collateral or other security
may be required to enter into transactions based on the potential
exposure. Under most agreements we have entered into, collateral is
in the form of cash or letters of credit. These forms of collateral
are held by us and can be drawn upon should a counterparty default
on its obligations under its agreement.</font></p>
<p style="FONT-FAMILY: times">
<font size="2"> As a
best practice, we enter into commodity master agreements and
cross-commodity netting agreements in order to achieve the benefits
of netting in terms of exposure and collateral capital reductions.
Where beneficial to the risk profile of the company, we will seek
credit protections that include upfront collateral, margining,
material adverse change clauses (based on credit ratings downgrades
or other financial ratios events), and adequate assurances clauses
in our master agreements that can be utilized to request security
from our counterparties in order to cover our potential risk of
loss.</font></p>
<p style="FONT-FAMILY: times">
<font size="2"> We
consider a significant concentration of credit risk to be any
single obligor or counterparty whose concentration exceeds 10% of
total credit exposure. As of September 30, 2009, no single
counterparty concentration comprises more than 10% of the total
exposure of the portfolio, and no collection of counterparties
based in a single country other than the United States comprises
more than 10% of the total exposure of the
portfolio.</font></p></td></tr></table></td></tr></table>
Derivative
Instruments
Nature of Our
Business and Associated Risks
Our business
activities primarily include our merchant energy business and our
regulated
false
false
|
No definition available.
No authoritative reference available.
false
false
1
2
false
UnKnown
UnKnown
UnKnown
false
true