a southern company · enclosed are an original and fifteen copies of gulf power company's...
TRANSCRIPT
Susan D. Ritenour Secretary and Treasurer and Regulatory Manager
One Energy Place Pensacola, Florida 32520-0781
Tel 850.444.6231 Fax 850.444.6026 [email protected]
POWER A SOUTHERN COMPANY
October 28, 2008
Ms. Ann Cole, Commission Clerk Florida Public Service Commission 2540 Shumard Oak Boulevard Tallahassee FL 32399-0850
co s
Dear Ms. Cole:
RE: Docket No. 080001-El
Enclosed are an original and fifteen copies of Gulf Power Company's Request for Confidential Classification regarding certain information submitted by Gulf Power in connection with a Review of Gulf Power's Hedging Information Report in the above referenced docket (ACN 08-221 -1-1).
Sincerely,
~~~~- mv ECR GCX 2 Enclosures OPC
SSC SGA ABM
cc: Beggs & Lane Jeffrey A. Stone, Esq.
@G
CL'K !
4
BEFORE THE FLORIDA PUBLIC SERVICE COMMISSION
IN RE: Fuel and Purchased Power Cost ) Recovery Clause with Generating) Performance Incentive Factor 1 Docket No.: 080001-El
)
CERTIFICATE OF SERVICE
I HEREBY CERTIFY that a true copy of the foregoing was furnished by U. S. mail this %day of October, 2008, on the following:
John T. Burnett, Esq. Progress Energy Service Co. P. 0. Box 14042 St. Petersburg FL 33733-4042
John T. Butler, Esq. Senior Attorney for Florida Power & Light Company 700 Universe Boulevard Juno Beach FL 33408-0420
John W. McWhirter, Jr., Esq. Attorney for Florida Industrial Power Users Group McWhirter Reeves & Davidson P.O. Box 3350 Tampa, FL 33601 -3350
Paul Lewis, Jr. Progress Energy Florida, Inc. 106 E. College Ave., Ste. 800 Tallahassee FL 32301 -7740
Michael B. Twomey Attorney for AARP P. 0. Box 5256 Tallahassee FL 3231 4-5256
Karin S. Torain PCS Administration (USA), Inc. Skokie Boulevard, Ste. 400 Northbrook IL 60062
Karen S. White
139 Barnes Drive, Suite 1 Tyndall AFB, FL 32403
AFLSNJACL-U LT
Mehrdad Khojasteh Florida Public Utilities Company P. 0. Box 3395 West Palm Beach FL 33402-3395
R. Wade Litchfield, Esq. Associate General Counsel for Florida Power & Light Company 700 Universe Boulevard Juno Beach FL 33408-0420
Lee L. Willis, Esq. James D. Beasley, Esq. Attorneys for Tampa Electric Co. Ausley & McMullen P. 0. Box 391 Tallahassee FL 32302
Patricia Ann Christensen, Esq. Office of Public Counsel 11 1 W. Madison St., Room 812 Tallahassee FL 32399-1400
Cecilia Bradley Senior Assistant Attorney General Office of the Attorney General The Capitol-PLOI Tallahassee FL 32399-1050
Florida Retail Federation 100 East Jefferson Street Tallahassee FL 32301
Shayla L. McNeill, Capt. USAF
139 Barnes Drive, Suite 1 Tyndall AFB, FL 32403
AFLSNJACL-ULT
Lisa Bennett, Esq. FL Public Service Commission 2540 Shumard Oak Boulevard Tallahassee FL 32399-0863
Jeffrey S. Bartel Vice President Florida Power & Light Co. 215 S. Monroe Street, Ste. 810 Tallahassee FL 32301 -1 859
Paula K. Brown, Administrator Regulatory Coordination Tampa Electric Company P. 0. Box 111 Tampa FL 33601
Norman H. Horton, Jr., Esq. Messer, Caparello & Self, P.A. P. 0. Box 15579 Tallahassee FL 3231 7
James W. Brew Brickfield, Burchette, et al., P.C. 1025 Thomas Jefferson St., NW Eighth, West Tower Washington DC 20007-5201
Robert Scheffel Wright John T. LaVia, Ill Young van Assenderp, P.A. 225 S. Adams Street, Suite 200 Tallahassee FL 32301
Florida Bar No. 325953 RUSSELL A. BADDERS Florida Bar No. 007455 STEVEN R. GRIFFIN Florida Bar No. 0627569 BEGGS & LANE P. 0. Box 12950 Pensacola FL 32591 -2950
Attorneys for Gulf Power Company (850) 432-2451
BEFORE THE FLORIDA PUBLIC SERVICE COMMISSION
IN RE: Fuel and purchased power cost recovery clause and generating performance incentive factor
1
Docket No.: 08000 1 -E1 Date: October 28,2008
REOUEST FOR CONFIDENTIAL CLASSIFICATION
GULF POWER COMPANY [“Gulf Power”, “Gulf”, or the “Company”], by and through
its undersigned attorneys and pursuant to Rule 25-22.006, Florida Administrative Code, hereby
files a request that the Florida Public Service Commission enter an order protecting from public
disclosure certain documents produced by Commission Staff and Gulf Power in connection with
a Review of Gulf Power’s Hedging Information Report in the above-referenced docket (ACN
08-22 1-1 - 1) (the “Review”). As grounds for this request, the Company states:
1. A portion of the information submitted by Gulf Power in response to
Commission Data Requests and also included in Staffs work papers constitutes “proprietary
confidential business information” as defined by section 366.093(3), Florida Statutes.
2. Specifically, the information relates to contractual matters which would cause
irreparable harm to Gulf Power, the entities with whom it has entered into contracts and, most
importantly, to Gulfs customers if such information was disclosed to the general public. This
information contains details concerning Gulf Power’s hedging activities between January and
July, 2008, including specific price information. Disclosure of this pricing information would
adversely affect Gulfs ability to conduct its hedging activities to the benefit of its customers and
would impair Gulfs ability to enter into contracts for the benefit of its customers. The
information is entitled to confidential classification pursuant to section 366.093(3) (d) and (e),
Florida Statutes.
3. The information filed pursuant to this Request is intended to be, and is treated as,
confidential by the Gulf Power and, to this attorney's knowledge, has not been otherwise
publicly disclosed.
4. Submitted as Exhibit "A" are copies of the subject documents. The information
for which confidential classification is requested is highlighted in yellow. Exhibit "A" should be
treated as confidential pending a ruling on this request. Attached as Exhibit "B" are two (2)
edited copies of the subject documents, which may be made available for public review and
inspection. Attached as Exhibit "C" to this request is a line-by-line/field-by-field justification for
the request for confidential classification.
WHEREFORE, Gulf Power Company respectfully requests that the Commission enter
an order protecting the information highlighted on Exhibit "A" from public disclosure as
proprietary confidential business information.
Respectfully submitted this 28th day of October, 2008.
" J E F F R E ~ A . STOAE Florida Bar No. 325953 RUSSELL A. BADDERS Florida Bar No. 007455 STEVEN R. GRIFFIN Florida Bar No. 0627569 Beggs & Lane P. 0. Box 12950 Pensacola, FL 32591
Attorneys for Gulf Power Company (850) 432-245 1
BEFORE THE FLORIDA PUBLIC SERVICE COMMISSION
IN RE: Fuel and purchased power cost recovery clause and generating performance incentive factor
Docket No.: 080001-E1 Date: October 28,2008
REQUEST FOR CONFIDENTIAL CLASSIFICATION
EXHIBIT "A"
Provided to the Commission Clerk under separate cover as confidential
information.
EXHIBIT "Bll
EXHIBIT "B"
tL .I
SCS Receivable from OPCOs Allocated by Peak Period Load Ratlo
Swap Deal Detail Counterpatty Counterparty CPSettle SoCo SoCo soco Price Pricn SettlePrice SettleAmount
I ContractlD CounterParty DealType DealNumber TransactionDate StartDate EndDate Quantity Price
Svstem - PPLR / 100 BANKAMER SwaD 2007.39915 11/9/2007 17:26 11112008 7:00 2/1/2008 6:OO 77500
H s y s t e m - PPLR / 100 JPMORGAN Swap 2007.3989 11/5/2007 1557 11112008 7:00 2/1/2006 6:OO 77500 -Gas DIy
CONFI DENTM L
I '
- Q Gulf Power Company Fuel Price Hedging Costs -
Dkt 080001-E1 ; ACN 08-221-1-1; - < January-July 2008 Description: 4&33 q ; q Y ' . 1 9 n R A A k5 -
i d Le
.- .~ - - --, . .- . . .. . .. . - . .. .~ .. BANKAMER -134,340 00 0 S (134.340.00) BARCLAYS -153.890.00 0 S (153,890.00) ClBC -142,080 00 0 S (142.080.00)
JPMORGAN -99.030 00 0 S (99,030 00) MlTSUl -143,330.00 0 I (143.330.00) MORGAN 486.040 00 0 S 486.040.00 Suisse -189.430.00 0 5 (189,430.00) Total for GULF 498,350.00 0 S (4BS,350.00) SCS Recolvablo from GULF
7-Dec ($32 1.050 on) ?-Jan 15177.3Mj Lk7) DEUTSCHE -90.450 00 0 5 (90.45000)
ContractlD Swap Deal Detall $ % - t a l 4 Counterparty Counterparty CPSenle SoCo SoCo SoCo soco CountorParty DoalType
50 ABNAMRO Swap 50 ABNAMRO Swap
ABNAMRD Total:
50 BANKAMER Swap 50 BANKAMER Swap 50 BANKAMER Swap 50 BANKAMER Swap 50 BANKAMER Swap 50 BANKAMER Swap 50 BANKAMER Swap
BANKAMER Total:
50 BARCLAYS Swap 50 BARCLAYS Swap 50 BARCLAYS Swap 50 BARCLAYS Swap 50 BARCLAYS Swap 50 BARCLAYS Swap 50 BARCLAYS Swap
BARCLAYS Total:
50 ClBC Swap 50 ClBC swap 50 ClBC Swap 50 ClBC swap 50 ClBC Swap 50 ClBC SWP 50 ClBC Swap 50 ClBC Swap
ClBC Total:
50 DEUTSCHE Swap 50 DEUTSCHE Swap 50 DEUTSCHE Swap 50 DEUTSCHE Swap 50 DEUTSCHE Swap
DEUTSCHE Total:
50 JPMORGAN Swap
2007 39975 11/26/2007 21:35 2007 40043 12/7/2007 1522 2007 40082 12/18/2007 1629 2007 40093 12120/2007 15:44
Y(4.V 2006 371 J 5/17/2006 2120
2006 37987 9/13/2006 15 52 2007 39268 7/12/2007 16 04 2007 39478 1 8/2W2007 16 21 2007 39989 11/28/2007 17 43 2007 40014 1113M007 1625 2007 40053 12/11/2007 1522
2007 39967 llf26/2007 21 19 2007 40037 12/6/2007 15 12 2007 40076 12/17/2007 1531 2007 40104 12/26/2007 16 42
q$- IA
2007 40048 1211On007 15 15 2007 40089 12/19/2007 1508
# - l l v 2006.36823 L 2 / l W 0 0 6 19:lO
ContractMonth Hodgoblonth Puantlty Prlce EJan &Jan
8Jan &Jan &Jan &Jan &Jan &Jan &Jan
&Jan &Jan 8 Jan &Jan &Jan 8-Jan 8Jan
&Jan &Jan &Jan &Jan &Jan 8Jan &Jan &Jan
&Jan &Jan 8-Jan &Jan &Jan
8Jan &Jan
&Jan &Jan &Jan 7-Dec 7-Dec 7-Dec 7-Dec
&Jan &Jan 8Jan 8Jan 7-Dec 7-Dec 7-Dec
&Jan 8-Jan &Jan &Jan 7-Dec 7-Dec 7-Dec 7-Dec
&Jan 8Jan &Jan 7-Dec 7-Dec
1ooM) 2MMo
1ooM) 10000 10000 60000 40000 1 OOOO 10000
10000 1OMx) 20000 2OMx) 60000 3ooM) loo00
1 0000 ZOOM) 10000 2ooM) 6oooO loo00 ZOO00 3oooo
10000 loo00 20000 lo000 30000
8Jan &Jan loo00
hdox NYMEX LD NYMEX LD
NYMEX LD NYMEX LD NYMEX LD NYMEX LD
I
NYMEX LD NYMEX LD NYMEX LD NYMEX LD NYMEX LD
NYMEX LO NYMEX LD NYMEX LD NYMEX LD NYMEX LD
NYMEX LD NYMEX LD NYMEX LD
NYMEX LD
CUNFIOENTIAL
GULF GULF GULF GULF GULF GULF GULF
GULF GULF
GULF GULF GULF GULF GULF GULF GULF GULF
JPMORGAN Total:
50 MlTSUl Swap 50 MlTSUl Swap 50 MlTSUl swap 50 MlTSUl swap 50 MITSUI swap 50 MlTSUl Swap 50 MlTSUl Swap
MlTSUl Total:
50 MORGAN Swap 50 MORGAN Swap
MORGAN Total:
50 Suisse Swap 50 Suisse Swap 50 Suisse Swap 50 Suisse Swap 50 Suisse Swap 50 Suisse Swap 50 Suisse Swap 50 Suisse Swap
I 'L
3
Lf
w.6
2007.39971 11/26/2007 2127 2007 40032 12/5/2007 1451 2007 4007 12/14/2007 15:33
2007 40008 11/29/2007 1533 2007 40021 12/5/2007 1529 2007 40059 12/12/2007 15:05
2007 401 12/21/2007 1522
&Jan &Jan 8Jan &Jan &Jan %Jan &Jan
&Jan 8-Jan
&Jan 8-Jan 8Jan &Jan &Jan &Jan 8-Jan &Jan
8Jan 8-Jan &Jan 8Jan 7-Dec 7 - I C 7-Dec
8-Jan &Jan &Jan &Jan 7-Dec 7 - I C 7-Dec
8-Jan 8-Jan
8-Jan 8-Jan &Jan 7-Dec 7-Dec 7-Oec 7-Dec 7-Dec
loo00 2owO loo00 10000 Zoo00 IMXH) 20000
1 WOO loo00 loo00 loo00 6ooM) loo00 3ooM)
Zoo00 4 m
10000 Zoo00 20000
130000 loo00 1 OOOO 70wO 30000
K
- % Gulf Power Company Fuel Price Hedging Costs - r - Dkt 080001-E1 ; ACN 08-221-1-1; < January-July 2008 - 43 Description: M . s : * \ 9 >I - t r ~ n s & i ~ ~
0 AN KA M E R BARCLAYS ClBC CONOCO DETM DELlTSCHE EPPS JPMORGAN MlTSUl MORGAN Suisse Total for GULF
-66.190 00 -58.650 00 0 -58,650 00 -34.990 00 0 -34.99000
0 0 0 0 0 0
-52.740 00 0 -52.74000 0 0 0
-41.220 00 0 -41,22000 -41.790 00 0 -41,79000
-680 0 -680 -43.600 00 0 43.60000
T O W by Hedge Mmlh 7-Jan 0946 (ItlJ 00) 7-Feb
-348.S80.00 0 -346,080.00 SCS Recelvable from GULF
Swap Deal Delall qx- 1,2 adz:2 Counlamrrtv Countamartv CPSeItla SoCo SoCo SoCo ‘SoCo OpCo ConlracllD CounlorParly DeaITi&\ DeaINumber IrranractlonDale ConWactMonlh HedaeMonlh Quantltv Prlce
50 ABNAMRO Swap . 8-Feb 50 ABNAMRO Swap 8-Feb
ABNAMRO Total:
50 BANKAMER Swap 50 BANKAMER Swap 50 BANKAMER Swap 50 BANKAMER Swap 2008 40137 1/4/2008 15:32 50 BANWMER Swap 2008 40206 1/24/2008 14:46
BANKAMER Total: aq- 2 .z
50 BARCLAYS 2006.3719. 5/17/2006 2120 50 BARCLAYS 2006 37987 9/13/2006 15:52 50BARCLAYS SF-’[ 2007 39268 1 7/12/2007 16:04 50 BARCLAYS Swap 2007.39478 8/20/2007 16:21 50 BARCLAYS Swap 200840163 1/15/2008 1510
BARCLAYS Total:
50 ClBC 50 ClBC 50 ClBC Swap 50 ClBC Swap 1.2007 39563 h 7 / 2 0 0 7 17:55 50 ClBC Swap 2008 40132 1/312008 1547 50 ClBC Swap 2008 40159 1/14/2008 1550 50 ClBC Swap 2008 40198 1/23/2008 14:47
ClBC Total:
50 50 DEUTSCHE DEUTSCHE Swap Swap “1 ?yJ;;;i!6&= ;;;;; 50 DEUTSCHE Swap 2007.39244 7/6/2007 18:55 50 DEUTSCHE Swap 2008.40143 1/8/2008 1520 50 DEUTSCHE Swap 2008 40168 1/16/2008 15 46
DEUTSCHE Total:
50 JPMORGAN S w a ~ 9 * ~ ’ ~ 2 0 0 6 50 JPMORGAN Swap g$ -1,32006 50 JPMORGAN Swap I 2007
8-Feb 8-Feb 8-Feb 8-Feb 8-Feb
8-Feb 8-Feb 8-Feb 8-Feb 8-Feb
8-Feb 8-Feb 8-Feb 8-Feb 8-Feb 8-Feb 8-Feb
8-Feb 8-Feb 8-Feb 8-Feb 8-Feb
8-Feb 8-Feb 8-Feb
8-Jan 8 Jan
8Jan &Jan 8Jan 8-Jan 8Jan
8 Jan 8Jan 8-Jan &Jan &Jan
&Jan &Jan 8Jan &Jan 8Jan &Jan &Jan
8-Jan &Jan &Jan &Jan 8-Jan
8Jan &Jan 8-Jan
looW ZMXH)
1ooW 10000 1ooW 100M) 1Mxx)
looW 1ooM) 20000 2oOoo 10000
low0 20000 10000 Zoo00 20000 2ooW looW
10000 10000 20000 20000 10000
10000 1Oooo
lndu Pll +YMEXLD 5-7
NYMEXLD L
NYMEXLD 5-q NYMEXLD NYMEX LD L
NYMEX LD NYMEX LD NYMEX LD
NYMEXLD $-q NYMEX LD NYMEX LD NYMEX LD 1
NYMEX LD
NYMEX LD
Prlco Index
NYMEX LD NYMEX LD
NYMEX LD
NYMEX LD NYMEX LD NYMEX LD
NYMEX LD NYMEX LD
~~~~
SettlePrlco S s s f
s s s f s I
5 S s S s I
s S s s s S s t
f s s s s I
s s S
CONFI DENTI At
v) +I
8 U I
50 MlTSUl Swap %$d.32006 36fJ%t-2~~4iz006 17:04 50 MlTSUl 2006 37376 6/8/2006 14:45 50 MlTSUl zzi 1 2006 38281 12/22/2006 17:06 50 MITSUI Swap 2007 39198 6126/2007 2030 50 MlTSUl Swap 2008 40128 1/2/2008 15:14 50 MlTSUl Swap 2008.40155 111 112008 17% 50 MITSUI Swap 2008 40213 1/25/2008 152.8
Swap Y$-'*' 2007 39345 , 7/25/2007 1726
MlTSUl Total:
MORGAN Total: 1 qq -2.3
50 MORGAN
8-Feb &Jan 8-Feb &Jan 8-Feb %Jan 8-Feb &Jan 8-Feb &Jan 8-Feb &Jan 8-Feb 84an
8 f e b 8-Jan
CONFIDENTIAL
N
P 3-
1
OPC GULF MPC SPC 101.1
42 15119% K 0275% I owe% 104153%
loo oooox f I1 17@02) I 11705200)
P
I _-
CONFIDENTIAL
17.052 W
A I B I C l o 1 E 1 F I G I H I I 1 J I K l L I M I N I 0 1 P 1 I I I I I I I I I I I
4 ICounter Party ISwap Total IOptlon TolCounter Party Total I I I I I I I I I 1
2 lnvolce for GULF for the NYMEX Seltlement for Mar 2008 212M001 3 Totals by
5 ABNAMRO 20,900 00 0 20.90000 - 6 BANKAMER -31.000 00 0 -31.00000
50 BANKAMER Swap 50 BANKAMER Swap
BANKAMER Total: 50 BANKAMER Swap .
2006 37092 2006 3794
. 2007 39672
50 BARCLAYS Swap 50 BARCLAYS Swap 50 BARCLAYS Swap 50 BARCLAYS Swap
BARCLAYS Total:
2006 3719 2006 37987 2007 39268 2007 39478
Gulf Power Company Fuel Price Hedging Costs Dkt 080001-E1 ; ACN 08-221-1-1;
h' January-July c 2008 Description: &dci ;cg! \/A@-Sk.& -5
I
2 \
rb
Y
BARCLAYS ClBC CONOCO DETM DEUTSCHE EPPS JPMORGAN MlTSUl MORGAN Suisse Total for GULF
-5.100 00 0 -119,18000 0
0 0 0 0
-35.500 00 0 0 0
15.350 00 0 -59.875 00 0 18,000.00 0
200 0 -196.205.00 0
-5.100.00 -119,18000
0 0
0 15.350 00
Totals by Hedge MOnlh Feb-08 (S1Sd.205 001 Mar-08
-35.500 00 ToIal (S166,XG "oj
-59.875 00 18,000 00
200 -196,205.00 SCS Payable to GULF
Swap Deal Detail CounterParly DealType DealNumber TransactlonDate ContractMonlh
50 ABNAMRO Swap t#,1.~2006 38045 9/21/2006 13:30 8-Mar 50 ABNAMRO Swap \ 200739642 9/18/2007 1826 &Mar
Counterr" Counterparty CPSettle SoCo SoCo Price
soco soco ContractlD HedpeMonth
8-Feb 8-Feb
8-Feb 8-Feb 8-Feb
8-Feb 8-Feb 6-Feb 8-Feb
8-Feb 8-Feb 8-Feb 8-Feb 8-Feb 8-Feb 8-Feb 8-Feb 8-Feb
8-Feb 8-Feb 8-Feb 8-Feb 8-Feb 8-Feb
8-Feb 8-Feb 8-Feb 8-Feb 8-Feb
Quantity loo00 20000
10000 iwoo 10000
10000 10000 20000 20000
10000 20000 10000 2 m o
150000 30000 loo00 1 Do00 10000
10000 loo00 20000 20000 30000 1 0000
10000 loo00 10000 2 m o 10000
5
I ABNAMRO Total: 124) 4/25/2006 15:OO
9/8/2006 16:09 9/20/2007 16:20
8-Mar 8-Mar 8-Mar
8-Mar 8-Mar &Mar 8-Mar
8-Mar 8-Mar 8-Mar 8-Mar 8-Mar 8-Mar 8-Mar &Mar 8-Mar
8-Mar &Mar 8-Mar &Mar &Mar 8-Mar
GULF GULF GULF
GULF GULF GULF GULF
GULF GULF GULF GULF GULF GULF GULF GULF GULF
GULF GULF GULF GULF GULF GULF
5/17/2006 2120 9/13/2006 1552 7/12/2007 16.04 8/20/2007 1621
50 ClBC 50 ClBC 50 ClBC 50 Cl0C 50 ClBC 50 ClBC 50 ClBC 50 Cl0C 50 ClBC
ClBC 1
Swap Swap Swap Swap Swap Swap Swap Swap Swap
'otal:
2006 37134 2006 38299 2007 39219 2007 39563 2008 40253 2008.40267 2008.40282 2008 40289 2008 40302
1 5/3/2006 13.52 12/27/2006 21 46 6/29/2007 17 21 8/27/2007 17 55 2/8/2008 15 35
2/13/2008 16 19 2/19/2008 19 39 2/21/2008 15 55 2/26/2008 15 32
50 DEUTSCHE SwapuV- /.'f2006 37165 50 DEUTSCHE Swap 2006 3802
50 OEUTSCHE Swap 2008 40263 50 DEUTSCHE Swap 2008.40273 50 DEUTSCHE Swap 2008 40306
DEUTSCHE Total:
YIw2006 18 45 9/18/2006 1524 7/6/2007 18 55
2/12/2008 15 23 2/14/2008 1613 2/27/2008 15 49
5
50 JPMORGAN Swap&1.42006 36823 2/15/2006 19.10 8-Mar 50 JPMORGAN Swap \ 2006.37967 9/12/2006 16.00 8-Mar
GULF 50 JPMORGAN Swap 1 2007 39212 " o 7 21:26 8-Mar 50 JPMORGAN Swap 4 2007 39652 9/18/2007 1859 8-Mar 50 JPMORGAN ~ w a p N - / , > ~007.39661 9 " o 7 17:03 &Mar
C 0 N F ! 0 ENTl AL
50 JPMORGAN Swap&,(.$200739666 50 JPMORGAN Swap 2008.40228 50 JPMORGAN Swap 2008 40257 50 JPMORGAN Swap 2008 40286
JPMORGAN Total:
50 MlTSUl 2006 37376 2006.38261 2007.39198
50 MlTSUl 50 MITSUI 50 MlTSUl Swap 50 MlTSUl Swap 2008.40233 50 MlTSUl Swap 2008 40277 50 MlTSUl Swap 2008.40297
MlTSUl Total:
50 MORGAN swap ~ 1 . ( ~ 0 0 7 . 3 9 3 4 5 MORGAN Total:
2006 37273 2006 38213
50 Suisse 50 Suisse Swap 50 Suisse Swap 2007.39488
Sulise Total:
I v) C v1
5
F I G I H I 1 1 9/20/2007 (6.08 &Mar 8-Feb loo00 1/31/2008 15.27 &Mar 8-Feb loo00 2 1 1IZ008 15.27 8-Mar 6-Feb Zoo00 2/20/2008 1 5 : s 84ar 8-Feb loo00
2/14/2006 17 04 &Mar 8-Feb loo00 6/8R006 14 45 6-Mar 8-Feb IO000
12/22/2006 17 OB 8Mar W e b loo00 8/28/2007 20 30 &Mar 8-Feb 1oM)o 2/1/2008 15.25 8-Mar 8-Feb 3ooM)
2/ly2008 15 58 &Mar &Feb SOOOO 2nW008 15 43 6-Mar BFeb loo00
7/25/2007 17% &Mar 8-Feb ZMXM
5/24/2006 20:13 8-Mar 8-Feb loo00 125i2006 15:38 &Mar 8-Feb Zoo00 8/21/2007 14:ll 8-Mar 8-Feb Zoo00
-7,
-z
-L,
CONFIDENTIAL
Page 1 of 2
Curl, Charlotte Gulf Power Company Fuel Price Hedging Costs Dkt 080001-EI ; ACN 08-221-1-1; -
Jan ary-Jul 2008 Description: d+ IV - f r ~ n-s 6&+5 From: Kilgore, Bronson
Sent: Friday, March 28, 2008 10:27 AM 1 1
To:
cc: Boyett, C. Shane
Subject : Attachments: Gulf invoice Asian 0ption.doc; April - May Asian Option System trade.xls
Curl, Charlotte; Shimel, Paul D.; Ball, H. Rusty; Peters, Jocelyn P.; Moore, Lucresha M.
FW: Nymex asian otm options
4-3 Gulf should make a payment of $4,035.91 to SCS on March 31, 2008 for the option premiums listed below. The deal settlement is two business days, so that is the reason for the short turn around time. If you have any questions, please let me know. Bronson
From: Gary, Tonya M. Sent: Friday, March 28, 2008 9:13 AM To: Kilgore, Bronson Subject: FW: Nymex asian otm options
From: Gary, Tonya M. Sent: Thursday, March 27, 2008 11:31 AM To: Ankar, Tony; Hughes, Paul Cc: Haygood, Jon; Norton, Bill; Bush, Mike (SCGEN); Walding, Becky H.; Sorrell, Tim D.; Carner, David E.; Phillips, Tim (SCS) Subject: RE: Nymex asian otm options
Asian Option for April - May 2008 executed at:
i Total Swap
Month Contracts Reference Strike
/I Apr-2008 c. *
May- $7 2008 ,)
5,00O/day
2,50O/day
Deal # - 2008.40456
Please let me know if you have any questions.
Tonya M. Gary Southern Conzpariy Generation - Fuel Services (205) 257-1278 - OfJice (205) 257-6803 - FCU
JPMorgan Offer
P
Premium
CON FI OENTI AL From: Ankar, Tony Sent: Thursday, March 27, 2008 8:57 AM To: Hughes, Paul; Gary, Tonya M.
8/22/2008 . - qy
’ + ---- - . - - ~ ------ 9 c(6-3, I
A page z or L Cc: Haygood, Jon; Norton, Bill; Bus,., ,+like (SCGEN); Walding, Becky H.; Sorrt,,, Tim D. Subject: Nymex asian otm options
To confirm, we would like to execute the following trades as hedge positions against existing forward system sales.
I * Buy an asian option on 5,000 mmBtu/day, p u t of the money strike, April Nymex (Strike vs average of 19 fixings May daily sett ements/3 June daily settlements).
2 * Buy an asian option on 2,500 mmBtu/day, p u t of the money strike, May Nymex (Strike vs average of 20 fixings June daily set ements/2 July daily settlements).
Thanks, Tony
Gulf Power Company Fuel Price Hedging Costs Dkt 080001-E1 ; ACN 08-221-1-1;
January-July 2008 Description: AClrhQ X%&L&&< ...........................
I / Tony S. Ankar Southern Company Tel (205) 257-5700 Fax (205) 257-5786 Mobile (423) 505-5456 [email protected]
CONFIDENTIAL 8/22/2008 Y t - 3 . 2 ,
0 z n - n U m
o
9 8 6
j OIOOs"l %I$ fis"OiI I%iOOI $1 Illis" OIIIIfJ
i
i
Qt- 3.3
. / '
A Trade Date
1 4/1/2008 4/2/2008
3 4/3/2008 '4 4/4/2008
4/7/2008 ' 4/8/2008 4/9/2008
4 4/10/2008 a 411 112008
4/14/2008 I' 411 512008 i: 4/16/2008
411 712008 ! '/ 411 812008 ': 4/21/2008 t g 4/22/2008 :" 4/23/2008 1 f{ 4/24/2008 C 4/25/2008
c3 4/28/2008 ' 4/29/2008
1 'L 4/30/2008 23
Deal 2008.40456
25
Contract 8-May 8-May 8-May 8-May 8-May 8-May 8-May 8-May 8-May 8-May 8-May 8-May 8-May 8-May 8-May 8-May 0-May 8-May 8-May 8-Jun 8-Jun 8-Jun
Average
Strike
In the money
Price Gulf Power Company Fuel Price Hedging Costs
Dkt 080001-E1 ; ACN 08-221-1-1;
i I Description:
Settlement for April 08 contract
April MMBtu 150,000
Total Settlement 38,297.73
loperating Co. IPeak Period Load Ratio APC 33.1 91 7% 12,711.67 GPC 42.7589% 16,375.69 GULF 6.8275% 2,614.78 'I..q -(I MPC 6.8066% 2,606.77 SPC 10.41 53% 3,988.82 Total 100.0000% 38,297.73
CONFIDENTIAL
nARCU*S 135.7wm Clec 559.m w CONOCO 0 M l U 0 DEUTSCHE ~7.7-m EPPS 0 JPUOROAN itsram UIlSV( l8SSSODO UOROkN w x e m 6.4.- ICS*ylDO 1.w u OULF i.wz.au DO
0 IU.75000 O W" 0 0 0 0 0 n7.7cnm 0 0 0 116.3Y)m 0 l l S 4 6 0 0 0
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Gulf Power Company
Description: 0 9 ,'M 7 r - s d i
Fuel Price Hedging Costs Dkt 080001-E1 ; ACN 08-221-1-1;
January-July 2008
( J
A CPI C N
4 c D E
Trade Date I 511 12008
5/2/2008 5/5/2008
'4 5/6/2008 5 5/7/2008 6 5/8/2008 ? 5/9/2008 5/12/2008
G 511 3/2008 ! 3 5/14/2008
511 512008 1% 511 612008 I S 5/19/2008 1+ 5/20/2008 'f 5/21/2008 !k 5/22/2008 12 5/23/2008 !g 5/27/2008 i? 5/28/2008 ig 5/29/2008 ".[ 5/30/2008 2 2
t
Deal 2008.40585
Contract
Average
Strike
In the mol
Price Jun-08 Jun-08 Jun-08 Jun-08 Jun-08 Jun-08 Jun-08 Jun-08 Jun-08 Jun-08 Jun-08 Jun-08 Jun-08 Jun-08 Jun-08 Jun-08 Jun-08 Jun-08 JuI-08 Jul-08 Jul-08
May MMBtu 77,500
Total Settlement 97,681 .OO
loperating Co. APC 33.1 91 7% 32,421.98 G P C 42.7589% 41,767.32 GULF 6.8275% 6,669.1 8 qe< MPC 6.6066% 6,648.75 SPC 10.41 53% 10,173.77 Total 100.0000% 97,681 .OO
IPeak Period Load Ratio
JP Morgan
CON F I D ENTl AL
Gulf Power Company Fuel Price Hedging Costs Dkt 080001-E1 ; ACN 08-221-1-1:
Settlement for May 08 contract
1 GULF
1 OULF i, OULF GULF
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OEUTSCWE TOW:
50 MlTSUl 50 U1TSUI 50 UTSUI 50 &UT*", 50 MRSUI 50 MITSUI 50 MITSUI 50 WTSUl
YlTSUl TO,*:
50 MORGAN 50 WRGAN 50 MORGAN
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CONFl DENTIAL
A l e 1 C I D I € 1 F 1 G I H I I 1 J I K I L I M I N 1 0 I P I (I Settlement Updrted
May Contract Contract Hedge Counterparty Dlrcount Previous amount Updated Selllennnt amount 1 Settlement OpCo Perlod Perlod Index SoCo Prlce .NYMEX Fador Volume galn/(losr) VO~UIM galn/(lorr) Dlfference 2 A X Map08 May-08 10 925 NYMEX LD 11 28 0 190.000 (67.450 00) 60.W (21.300 00) S 46.15000 - 3 GPC Map08 May-08 10.925 NYMEXLD 11.28 0 310.000 (110,050.00) 200,wO (71.000.00) S 39.050.00 - 4 [GULF May-OB May-08 10.925 NYMEX LD 11 .ze 0 50.000 (17.750.00h 150.ooO (53.250.00) I (35.5M).W)] qb-b 5 MPC May-08 May-08 10 925 NYMEX LD 11 28 0 60.000 (21.30000) 200.MK) (71.ooO00) S (49.700 00) 6 610.000 (216.550) 610.000 (216.550) S 7 a- Y n Z R
rvationDale DealNumber DealType 4/30/2008 2008 40571 Swap
Jpdate 4/30/2008 2008 40571 Swap
5/22/2008 2008 40571 swap
FASBType RegAssel RegAssel RepAssel RegAssel
RegAssel RegAssel RegAsSel RegASsel
RegASSel RegASSel RegAssel RegAssel
Book APC GPC GULF MPC
APC GPC GULF M P C
APC GPC GULF MPC
StartDale EndDale 6/1/2008 613W008 6/1/2wB 6130/2008 6/1/2008 8AO/2OOa 6/1/2008 MJW008
6/1/2008 6/30/2008 6/1/2008 6/3W2008 6/1/2008 6/3012008 6/1/2008 6/3W008
6/1/2008 613012008 6/1/2008 613W008 6/1/2008 613012008 61112008 6AW008
HemeMOnlh YlR008 Yli-2008 5/1/2008 5/1/2008
5/1/2008 5/1/2008 YlnOo8 Yl/2W8
5/1/2008 5/1/2008 5/1/2wB 5/1/2008
Cwnlerparly Volume Index
190.000 NYMEX LD 310.000 NYMEXLD 50,000 NYMWLD 60.000 NYMEX LD
610.000
60.000 NYMEXLD 200.000 NYMEXLD 150.000 NYMEX LD 200,000 NYMEX LD 610.000
60,000 NYMEXLD 200.000 NYMEX LD 150.000 NYMEX LD 200.000 NYMWLD 610,000
DiscFactor MTMValue 0 99550616 (44.827 64) 0 99550616 (73,139 84) 0.99550616 (11.796 75) 099550616 (14.156 10)
0 99550616 (44.827 64) 0 99550616 (73.139 84) 099550616 (11,79675) 099550616 (14.156 10)
0 99701003 36.909 31 099701003 123,031 04 0 99701003 92.273 28 0 99701003 123,031.04 1
CONFIDENTIAL
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CONFl DENTI AL
BARCLAYS 0 0 0 0 0 0
CONOCO DETM
0 0 0 0 D 0 _ _
DEUTSCHE 0 0 0 EPPS 0 0 0 JPMORGAN 0 0 0 MlTSUl 0 0 0 MORGAN 0 0 0 Suisse -561.348 00 0 -561.348.00 Total for GULF -561,348.00 0 -561,348.00 SCS Recelvable from GULF
Swap Deal Detall Counterparty Counterparty CPSettle soco soco soco SettlePrice SettleAmo n
50 Suisse Swap 2008.40856 6R4R008 16:26 8-Jul 8-JUl 310000 Index Gas Dly a Contract10 CounterPatty DealType DealNumber TrannctlonDate ContnctMonth HedgeMonth Puantlty Prlce
Sulrte Total: ( # ,
VI La Y
8
%-7
CONFl DENTI AL
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Gulf Power Company Fuel Price Hedging Costs Dkt 080001-E1 ; ACN 08-221-1-1;
January-Jul 2008 Description: Qc, lq -L **Ai&
I /
i 1
J
rt nN FI nFNTl AL
Gulf Power Company Fuel Price Hedging Costs Dkt 080001-E1 ; ACN 08-221-1-1;
pr
GULF POWER COMPANY Docket No. 080001 -El
Hedging 7 Item No. 2 Page 2 of 6
Build Hedge Posit
-I-
f
Why do we Roll & Unwind?
:ions over time
3
4
JGj? SOURCE CONFIDENTIAL Z b
2 4 - P . 1
Gulf Power Company Fuel Price H, _.ng Costs GULF POWER COMPANY -- ~
Dkt 080001-E1 ; ACN 08-221-1-1; January-July 2008.
. T, g ,-.J Description: .Ce 8. Y lr-9 ‘ 4
Docket No. 080001 -El Hedging 7 Item No. 2 Page 3 of 6
I 2 P Y
Why not just hedge one month forward and skip the “rolling” process?
A B L The Roll Transaction
Sell BUY December January
Fixed Price . Fixed Price
NYMEX LD NYMEX LD .
SOURCE @ * CONFl !lENTl AL 2 )
Gulf Power Company Fuel PriL- Hedging Costs Dkt 080001-E1 ; ACN 08-221-1-1;
January-July 2008 Description: B L4,'L-D -1 J%DAch9-#iP
G c GULF POWER COMPANY
Docket No. 080001-El Hedging 7 Item No. 2 Page 4 of 6
I 1
The Unwind Transaction
Svnthetic Deilv Settlement
Fired Price,
NYMEX LO
Dailv Burn Volatilitv
7
Summary
n
SOURCE t9 CONFIDENTIAL 4
Ctb- 2.3
-c 00
'! I
EXHIBIT C Line-by-Line/Field-bv-Field Justification Line(s)/Field(s) Justification Page 1 of 23 Columns J, L-0, Lines 17-20,
Page 2 of 23 Columns J, L, M and 0 in their entirety Column P, Lines 21 -22,253 1,34-40,43-50, 53- 57 and 60.
This information is entitled to confidential classification pursuant to $366.093(3) (d)- (e), Florida Statutes. The basis for this information being designated as confidential is more fully set forth in paragraph 2.
Page 3 of 23 Columns J, L, M, and 0 in their entirety Column P, Lines 61-68,71-77,80-81, and 84-91. Column Q, Line 2 Column R, Line 3
Page 4 of 23 Columns J, L, M and 0 in their entirety Column P, Lines 23-24,27-3 1,34-38,4 1-47,50- 54 and 57-60.
Page 5 of 23 Columns J, L, M and 0 in their entirety Column P, Lines 61-66,69-75,78, and 81-85.
Page 6 of 23 Columns A-E in their entirety
Page 7 of 23 Columns J, L, M and 0 in their entirety Column P, Lines 22-23,26-28,31-34,37-45,48- 53, and 56-60.
Page 8 of 23 Columns J, L, M, and 0 in their entirety Column P, Lines 61-64,67-73,76, and 79-81
Page 9 of 23 Columns A, C and D, Lines 2-3 Column By Line 1
Page 10 of 23 Column A, Lines 1-2
Page 11 of 23 Columns A-D in their entirety Column E, Lines 1-45
Page 12 of 23 Column A, Lines 1-25
Page 13 of 23 Columns A-D in their entirety Column E, Lines 1-59
Page 14 of 23 Column A, Lines 1-24
Page 15-23 Columns A-D in their entirety Column E, Lines 1-59
Page 16 of 23 Columns K,L,M,P and Q, in their entirety
Page 17 of 23 Columns A-D in their entirety Column E, Lines 1-66
Page 18 of 23 Columns J, L, N, 0 and P, Line 22
Page 19 of 23 Columns A-D in their entirety Column E, Lines 1-90
Page 20 of 23 Column A, Line 1
Page 21 of 23 Column A, Lines 1 and 4 Column B, Lines 2-3 Column C Lines 1 and 3
Page 22 of 23 Columns A-C, Lines 1-3
Page 23 of 23 Columns A-B, Lines 1-20 Columns C-D, Lines 1,4- 16 Column E, Lines 1-20
STATE OF FLORIDA COMMISSIONERS: MATTHEW M. CARTER 11, CHAIRMAN LISA POLAK EDGAR ANN COLE KATRINA J. MCMURRIAN COMMISSION CLERK
OFFICE OF COMMISSION CLERK
NANCY ARGENZIANO (850) 413-6770 NATHAN A. SKOP
ACKNOWLEDGEMENT
DATE: October 29,2008
TO:
FROM: Ruth Nettles, Office of Commission Clerk
RE: Acknowledgement of Receipt of Confidential Filing
This will acknowledge receipt of a CONFIDENTIAL DOCUMENT filed in Docket Number
080001 or, if filed in an undocketed matter, concerning certain information submitted in
connection with Review of Gulfs Hedging Information Report (CAN 08-221-1-1), and filed on behalf
of Gulf Power Companv. The document will be maintained in locked storage.
If you have any questions regarding this document, please contact Marguerite Lockard,
Deputy Clerk, at (850) 413-6770.
CAPITAL CIRCLE OFFICE CENTER 2540 SHUMARD OAK BOULEVARD TALLAHASSEE, FL 32399-0850 An Affirmative Action/Equal Opportunity Employer
PSC Website: htto://www.floridavsc.com
PSClCLK 019-C (Rev. 05/07)
Internet E-mail: [email protected]
U 0 D
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