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Is there any detail available about how this long-term contractual mechanism
being neogotiated might work? I ask because we have heard about interest in a similar mechanism that was adopted in Australia, in New South Wales. My colleagues in Australia are the main restructuring advisors to the NSW government. Details of this mechanism are in the public domain, i documents available from the NSW Treasury. If they design it properly it is possible that you could still have some form of retail competition, if the hedge moves with the customer. This was a big design issue in Australia. Otherwise, it looks like a political fudge that will stymie the development of the market for years to come. Seab This e-mail, and any attachments thereto, is intended only for use by the addressee(s) named herein and may contain legally privileged and/or confidential information. If you are not the intended recipient of this e-mail, you are hereby notified that any dissemination, distribution or copying of this e-mail, and any attachments thereto, is strictly prohibited. If you have received this e-mail in error, please immediately notify me at (617) 354-0060 and permanently delete the original and any copy of any e-mail and any printout thereof. Seabron Adamson Frontier Economics Inc Two Brattle Square Cambridge, MA 02138 USA Ph: (617) 354-0060 Fax: (617) 354-0640 seabron.adamson@frontier-economics.com www.frontier-economics.com
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