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12/3/'2008 <br />than normal weather confined to the west coast. Precipitation is predicted to be wetter <br />than normal over the eastern half of the continental U.S. and the northern mid-continent <br />region with normal to drier than nomial conditions forecast for the westem half of the <br />rnntinental U.S. extending into Texas. Overall temperatures for December are predicted <br />to be colder than normal in the eastern half of the continental U.S. and warmer than <br />normal in the western half. <br />CAPP/STAP CONTRACT STATUS <br />On November 11th, Jay Doegey executed the contract documents for the CAPP 5 year <br />wholesale supply from FPL Energy Power Mazketing Inc. with a matching 5 year REP <br />Services Agreement with Direct Energy Business Services (DEBS). On November 13w <br />the CAPP Board authorized RJC to work with FPLE to lock in gas prices for all five <br />years. Due to the magnitude of the number of gas contracts, the lock in process took two <br />trading days and was completed on November 17t+. Prices as shown above under Final <br />Confirmed Prices have now been included in a contract amendment for Jay Doegey to <br />execute. The DEBS Commercial Electricity Supply Agreements (CESAs) for each <br />individual member were also executed on November 11w and will be distributed to <br />members in the near future. <br />The 5 yeaz contract includes an option to replace 50 MW of the base load energy amount <br />with the Luminant Long Term contract generation supply if it is executed by June 2009. <br />Geoffrey Gay will provide an update at the Board meeting regarding the status of this <br />contract. <br />3 <br />