Question-and-Answer Session
Operator
(Operator Instructions)Your first question comes from Paul Ridzon - Keybanc.
Paul Ridzon - Keybanc
Actually, the question has been answered in the commentary. Thank you.
Operator
Your next question comes from Paul Patterson - Glenrock Associates.
Paul Patterson - Glenrock Associates
The $0.06 of other, I’m sorry if I just had drop off a little bit. What caused that in the quarter?
Marty Lyons
Paul, could you repeat the question? You broke up a little bit.
Paul Patterson - Glenrock Associates
I’m sorry, the $0.06 for other net in the reconciliation between 2008 and 2009, for the first quarter?
Marty Lyons
Paul, you’re talking about the variance?
Paul Patterson - Glenrock Associates
Yes.
Marty Lyons
A big part of that was lower bad debt expense and some lower plant O&M.
Tom Voss
Paul, you may recall that last year that our bad debt expenses, particularly in our Illinois service territory were unusual high. So, we did see a bit of a decline versus last year sort of higher than normal levels.
Paul Patterson - Glenrock Associates
Okay. With respect to 2010 and beyond, last quarter I asked you guys about sort of the outlook there and at that time you guys sort of were indicating that maybe at the spring meeting, we’d get a little bit more flavor for hedging prices and what have you. I know we’re not going to have a spring meeting, but I was wondering if you could update a little bit in terms of how the hedging, I think you guys were about 60% for 2010.
Has that changed and can you give us a little bit more flavor on prices and what have you?
Marty Lyons
We did not end up, obviously scheduling a spring meeting and we are certainly going to be looking to, late in the year to potentially have another Analysts Day to provide more guidance. In terms of our hedging, not much changes. In terms of 2010, we’re still about 60% hedged on the power side, as we disclosed in our 10-K, those hedges that are about $51 per megawatthour.
As we look ahead, the Illinois procurement agency is going to have a RFP process here and certainly our non-rate-regulated generational look to participate in that process, certainly wouldn’t say at what price level or how many megawatts, but I think that will provide us more transparency into the prices going out into ?10 and ?11.
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