Question-and-Answer Session
John Ramil
We will get all the questions out of the way in the one-on-ones. Here we go. Moray [ph]?
Moray
The TECO coal contract slide on page 15, there's obviously an assumption for production in those two years. Can you give us that assumption?
John Ramil
Moray, we are still working on that. As Sandy mentioned, in 2009, we think we are going to be about the 9 million ton market. As we read the market right now, our best guess is that we will be about that same figure in 2010.
Moray
Okay. So those are the numbers cranked into 2010 and 2011?
John Ramil
I'm sorry.
Moray
That 9 million ton production is what's cranked into 2010 and 2011?
John Ramil
No. My comments are restricted to 2010. 2011, I don't have a number for you, but would hope to move it higher.
Moray
And then a second question has to do on the appeal of the second step rate increase, I guess it's $34 million, an intervener has appealed that to the Florida Supreme Court. Can you give us some color on that --?
John Ramil
The interveners have appealed based on the question whether the interveners had due process to such a decision on a second step increase. We believe the positions for the commission to do what they did are strong. They had due process for those rates to be set in the first year. So certainly, they had due process for them to put it off a year. Other questions? Yes, sir.
Unidentified Participant
(inaudible) yourself having to go back for any kind of rate cases in the next four years or as these new appointees are there.
John Ramil
Yes, our objective to the position the utilities to earn their ROE next and to continue doing that and to manage ourselves to live within our revenue growth. And look at rate increases as a last resort. So we expect to stay out. Last time it was 16 years between our rate cases, I don’t know if we will be able to stay out that long. But we would look to manage our business without going in.
Unidentified Participant
It sounds like you had 25% of this year's production will be met coal versus steam coal. Is that going to be the same going forward for ‘10 and ’11?
John Ramil
No. We expect next year to move more towards our normal one-third, two-thirds, one-third met, PCT, specialty; two-thirds steam.
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