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<br />Lloyd <br />" Gosselink <br /> <br />UUlIl A T TOR N E Y SAT LAW <br /> <br />816 Congress Avenue, Suite 1900 <br />Austin, Texas 7870 I <br />Telephone: (512) 322-5800 <br />Facsimile: (512) 472-0532 <br /> <br />www.lglawfirm.com <br /> <br />Mr. Gay's Direct Line: (512) 322-5875 <br />Email: ggay@lglawfim1.com <br /> <br />MEMORANDUM <br /> <br />TO: <br /> <br />CAPP Board & Members <br /> <br />FROM: <br /> <br />Geoffrey M. Gay <br /> <br />DATE: <br /> <br />September 19, 2006 <br /> <br />RE: <br /> <br />Price Lock for 2007 <br /> <br />The CAPP Board decided during a conference call last Thursday to lock-in energy prices <br />for six quarters commencing January 1, 2007. The blended energy price for the 12 months of <br />. 2007 will be $0.08132/kWh, inclusive of the DEBs' administrative fee of $0.00205/kWh. This <br />is better than previously projected prices, and Bill Starnes will send a memo in a few days that <br />will discuss the favorable impact on City budgets. <br /> <br />The gas prices for the first two quarters of 2008 were locked down. The electric energy <br />price would be slightly higher than the above-referenced 2007 price, but less than the average <br />. price experienced during 2006. However, it is too early to calculate the price that will be <br />experienced during 2008. It is expected that some' time during the next 12 months, CAPP will be <br />able to capture a further decline in the gas futures market for the second half of2008. <br /> <br />Hope you find this to be great news. <br /> <br />11.85 :SJ1i <br />g, of ~.J ~ <br />7. ? 5 5 ~fT <br /> <br />1813\OO\mmo060919 <br /> <br />_ _ . I_____~ ro""~,,I;nl, Dlc",;nc Rnr'hpllP R, T()wn~p,nd. pc. <br /> <br />,.. <br />