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Summary of Results for October 2011 CBP Auction

Number of Registered Bidders 13
Number of Winning Bidders 5
Number of Rounds in the Auction 15
Delivery Period
June 1, 2012 to
May 31, 2014
Tranche Target 17
Number of Tranches Procured 17
Range of Starting Price ($/MWh) $75.00 - $90.00
Tranche-weighted average price of winning bids ($/MWh) $52.83



Summary of Results for January 2011 CBP Auction

Number of Registered Bidders 10
Number of Winning Bidders 7
Number of Rounds in the Auction 12
Delivery Period
June 1, 2011 to
May 31, 2012
June 1, 2011 to
May 31, 2013
June 1, 2011 to
May 31, 2014
Tranche Target 17 17 16
Number of Tranches Procured 17 17 16
Range of Starting Price ($/MWh) $70.00 - $95.00 $70.00 - $95.00 $70.00 - $95.00
Clearing Price ($/MWh) $56.13 $54.92 $57.47



Summary of Results for October 2010 CBP Auction

Number of Registered Bidders 10
Number of Winning Bidders 4
Number of Rounds in the Auction 12
Delivery Period
June 1, 2011 to
May 31, 2012
June 1, 2011 to
May 31, 2013
June 1, 2011 to
May 31, 2014
Tranche Target 17 17 16
Number of Tranches Procured 17 17 16
Range of Starting Price ($/MWh) $65.00 - $90.00 $65.00 - $90.00 $65.00 - $90.00
Clearing Price ($/MWh) $54.55 $54.10 $56.58
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