Question-and-Answer Session
Operator
(Operator Instructions). Your first question comes from Paul Patterson with Glenrock Associates.
Paul Patterson - Glenrock Associates
Good morning guys.
Ralph Izzo
Good morning, Paul.
Thomas O'Flynn
Good morning Paul.
Paul Patterson - Glenrock Associates
Just, circle back you. What was the mark-to-market benefit for the year?
Thomas O'Flynn
It's on the attachment, but it was $0.03.
Ralph Izzo
$0.03.
Paul Patterson - Glenrock Associates
Okay $0.03. I mean I am not talking year-over-year, just talking about what it actually constituted?
Thomas O'Flynn
The absolute number is on attachments.
Paul Patterson - Glenrock Associates
Okay. And that was $0.03?
Thomas O'Flynn
Yes.
Paul Patterson - Glenrock Associates
Okay. So,
Thomas O'Flynn
$0.03 all of Power, Holdings was flat.
Paul Patterson - Glenrock Associates
Okay. And then we have about $0.14 if I recall that correctly, for the Nuclear Decommissioning trust fund?
Thomas O'Flynn
Correct.
Paul Patterson - Glenrock Associates
So, just with the changes in terms of reporting operating earnings and excluding those two factors we've got about $0.11 benefit, is that correct?
Thomas O'Flynn
That's right.
Ralph Izzo
Yes. As we discussed that will be a pro forma treatment for 2009 if we get that for 2008, it would $0.11 increase.
Paul Patterson - Glenrock Associates
Okay. And then just what's the ROE for the PSE&G Power expected to be in 2009? I mean not Power sorry, the utility?
Thomas O'Flynn
For the said average, we are saying about 8.5% - 9%. If you looked it up a little bit transmission does better.
Paul Patterson - Glenrock Associates
Okay. So 8.5 on the distribution side, that you got...
Thomas O'Flynn
8.5 to 9 for the state jurisdictional losses which is about 85% of the asset base.
Paul Patterson - Glenrock Associates
Great. Thanks a lot guys.
Thomas O'Flynn
Okay.
Operator
Your next question comes from the line of (inaudible) with Jeffries.
Unidentified Analyst
Good morning. In your 2008 presentation you indicated that you would expect 8 to 9% growth from 2008 to 2009 and also I think from 2009 to 2010. Is this assumption still reasonable or if not, which number should we look at?
Ralph Izzo
I think when we did that, that was during a materially different point in the economic and commodity cycle. And clearly in especially Power, much of the long-term growth is a function of longer term economic growth in commodity cycles.
So, at this point those will be difficult numbers to meet in this type of environment. And I think in terms of longer term growth rates, as I said in this type of environment, it's difficult to forecast out two or three years in that way.
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