Pueblo

Latest Tino-gram: Apparently high power prices at 4 Corners have DOE excited
about the project all of a sudden. The latest configuration is in the
300-380 mw range. Tino needs us to check if the ENA guys would be interested
in buying the surplus capacity on a demand charge basis (I think these are
basically tolling agreements--ENA would pay a monthly capacity reservation
charge per KW of capacity and then pay actual fuel and variable cost for
power that is actually dispatched) $7/kw if the thing is simple cycle or
$10/kw if combined cycle. Variable cost would be $.005/kwh and fuel is
whatever it is--ENA's problem. I'm trying to get ahold of Tino to confirm,
but I think these are prices at the plant, not FOB 4 Corners.

Please give me a call and see if you can get a quick reaction from our ENA
guys. Thanks. DF