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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Dennis Roth who wrote (122077)	8/11/2009 9:08:55 AM
From: Dennis Roth	1 Recommendation Read Replies (1) \| Respond to of 206107

Spark Spread Biweekly Tracking Changes in Power Commodities citigroupgeo.com 38 pages, excerpt from page one: In This Issue — DYN: Deal Significantly Boosts Liquidity. New Hedges At EMG Indicate Possible Contrarian Position; ERII (ERII.O; US$5.61; 2S): Project Delays Drive Guidance Cut, Target Now $7; COMV: 3rd Consecutive Quarterly Beat; Track Record Firmly Established. CPN: Financial Update Following 2Q09. PCG: Regulatory Timeline Is Now the Focus - A Spotlight On the Ratemaking Principles in CA. ETR: Valuation & Outlook Minor Tweaks; Maintain Buy. PNW: 2Q09 Results Below Expectations: Lower Results Driven By Regulatory Lag And Weak Load Growth. DUK: Solid Quarter - '09 Outlook On Track. RRI: FirstEnergy's PJM Move A Minor Positive For RRI Energy. PEG: 2Q09 Results Inline But Boosted by Low Quality Lease Gains & 2009 Key Segments Outlook Slips… To see more go to page 33. Long Term Gas Up — In the past two weeks, longer-term gas prices increased 6.22%. The 2009 price is now at $4.79/MMbtu, the 2010 price is $6.21/MMbtu and the 2011 price is $6.93/MMbtu. This compares to our previous report’s, $4.42/MMbtu for 2009, $5.89/MMbtu for 2010, $6.61/MMbtu for 2011; see page 16 for further details. Market Heat Rates Down — In the past two weeks, longer term market heat rates decreased 1.55%. Current flat market rates are 7,458 btu/KWh for 2009, 6,819 btu/KWh for 2010, and 6,943 btu/KWh for 2011. This compares to our previous report’s 7,538 btu/KWh for 2009, 7,006 btu/KWh for 2010 and 7,007 btu/KWh for 2011; see page 31. Sparks & Darks Down – For the last two weeks, forward 2010E and 2011E sparks (CPN, and DYN), CAPP (MIR and RRI), and PRB dark spreads (DYN) were up.