Question-and-Answer Session
Operator
(Operator Instructions) Your first question is coming from Ashar Khan from SAC Capital.
Ashar Khan - SAC Capital
Good afternoon. Congratulations. Tony, as you mentioned, does the Senate version of the bill to be passed, as you said, with amendments today and tomorrow, would that allow you, as you said, to proceed with going to market or no?
Anthony J. Alexander
Since our Ohio utilities do not own generation and do not have any contracts for generation services as of January 1, 2009, their option for supplying and meeting their generation obligation will be from the market and that price will be passed on to customers.
Ashar Khan - SAC Capital
Okay, and then Rich, can I just ask you a question on the results -- the $0.20 increase in the generation business, is that -- do you do higher margins or more volume?
Richard H. Marsh
You’re talking about the generation revenues?
Ashar Khan - SAC Capital
That’s correct.
Richard H. Marsh
It was mostly price related, as opposed to volume.
Ashar Khan - SAC Capital
And that is because you had higher I guess prices in the [Miser] area in Ohio? Is that the way to look at it?
Richard H. Marsh
Yes, through the service territories, yes, that’s correct.
Ashar Khan - SAC Capital
Okay. Thank you so very much.
Operator
Thank you. Your next question is coming from Paul Fremont from Jefferies & Company.
Paul Fremont - Jefferies & Company
Thanks. If I take what you said in the second quarter, which is that you expect 56% of the remaining year to come in the third quarter, would’ve been a guidance range of about $1.14 to $1.25. You came in I think $0.07 above that in the third quarter, and I’m curious why you held the top end of your guidance range on the year stable. Is there something negative that we should be anticipating later in the fourth quarter?
Richard H. Marsh
We set it there because we think that’s the appropriate range, Paul. I mean, obviously every quarter is unique based on weather and other circumstances. We think the $4.15 to $4.25 guidance that Tony just issued captures where we’ll be at year-end, so it’s our best thought of where we’ll actually ultimately be, notwithstanding the third quarter results.
Paul Fremont - Jefferies & Company
I guess the second question that I would have is with respect to the Ohio plan, or Ohio proposed legislation, should we think of the timing of the passage of legislation as potentially preceding any potential deals that the Ohio utilities would cut with the PUC, or should we think of those as more or less simultaneous events?
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