Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from Paul Ridzon - KeyBanc Capital.
Paul Ridzon – KeyBanc Capital
Got a couple of questions; it sounds like with your increased credit facilities you may have a little more timing around when you can come to market with equity; is that fair?
Pam Keefe
That’s true.
Paul Ridzon - KeyBanc
And then, I had a question on the ARP, the 8.77 to 10.52; are there any sharing bands associated with that or are those hard limits?
Pam Keefe
Those include the sharing bands and the dead bands. So the 8.77% would be the absolute lowest it could possibly be and 10.52 would be the absolute highest.
Paul Ridzon - KeyBanc
Can do you do the sharing bands?
Pam Keefe
Sure, there’s a dead band of 75 basis points up and down around the allowed ROE and then on the down side there’s an additional 50/50 sharing of the next 50 basis points
Paul Ridzon - KeyBanc
And where is the floor on that?
Pam Keefe
The floor would be the 8.77.
Paul Ridzon - KeyBanc
You’re implicitly saying that the fourth quarter should be a loss or a gain of $0.05 per share. Is this DY outage unplanned or I’m guessing you could have a loss in the fourth quarter.
Pam Keefe
This was a planned outage. So given that fact, we do have some catch up in seasonal spending, that we expect and then given the volatility in the financial markets we are unsure of what that will bode or how that will bode in the fourth quarter in terms of the impact on such things as our trust.
Paul Ridzon - KeyBanc
And then I guess lastly, the question is just around the pension and to funding this?
Pam Keefe
That’s right. We are still in a decent funded position such that we don’t have a required funding in 2009, but obviously we are all watching the markets and we’ll continue to monitor that and we will have to revalue our pension assets as of the end of the year.
Paul Ridzon - KeyBanc
Is that due based on the September 30 or a more recent look at the market insurance.
Pam Keefe
That was based on September 30, but then we also did look at it again in the middle of October.
Operator
(Operator Instructions) Your next question comes from Danielle Seitz - Maxcor Financial Group.
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