Question-and-Answer Session
Operator
And now we would like to take your questions. (Operator Instructions)
Your first question comes from Greg Gordon - Morgan Stanley.
Greg Gordon - Morgan Stanley
You've made the update to the rate case based on what you're seeing in terms of the evolving expectations for electricity demand. Is that the only adjustment you'll be able to make? I know you said you think you're seeing a stabilization of demand, but if you were to see a significant change in demand between now and, let's say, November and December, would you be able to make another adjustment or would it be too late in the rate case cycle?
Gale Klappa
Greg, very good question. Essentially the way the process works in Wisconsin is up until the time that we filed additional direct testimony we had a window to update our data and we were able to do that. Pretty much now, as we work our way between today and the decision by the Commission, the sales data and the sales forecast is about locked in.
What we will, though, have an opportunity to update is fuel. But the historic practice of the Wisconsin Commission is to take a look at the November strip for natural gas, for example, and update the fuel forecast numbers very late in the process so that they have a pretty good up-to-date look at what our fuel costs are going to be before the final decision.
So no additional update, we would not expect at all, on the sales forecast, but we would expect very updated and current fuel numbers to factor into the decision in December.
Greg Gordon - Morgan Stanley
And in the interim really your earnings power at the utility on an ongoing basis, I'm presuming, will be predicated on, one, economic conditions hopefully being comparable to what's in the filing and you getting consistent rate-making treatment, but in the short run is it fair to say that, to summarize what you've said on the call, anyway, you're offsetting the softness of sales partly through the benefit of how steeply fuel has dropped and the way your fuel adjustment clause works and partly through temporary cost reductions?
Gale Klappa
Correct. You're absolutely right, Greg. In the near term probably the single biggest impact on our earnings will be the weather.
Greg Gordon - Morgan Stanley
When I look at your CapEx budget, the last time I checked you gave a forecast out through 2011. There's a little over $400 million in there for renewables. Which projects does that include? Does that include a placeholder for any of these biomass or not-yet-announced additions that you need to meet that mandate?
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