The company's efforts to achieve regulatory outcomes that generally support credit quality, Regulated utility operations provide the bulk of cash flow, with moderate operational risk and a favorable cost structure, Satisfactory operations with expected reduced reliance on market purchases once the Rodemacher Power Station 3 (RPS 3) becomes operational and the company completes the Acadia acquisition, We expect merchant generation exposure to decline once the Acadia transaction is complete, Lack of competitive pressures in the service territory. The company now expects construction of RPS 3 to be completed by fall 2009, Service territory has average to below-average demographic characteristics and exposure to cyclical industrial load, The financial profile is aggressive, with only modest improvement anticipated in the intermediate term. The
