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CSPAN2 Key Capitol Hill Hearings April 15, 2014

Like to hear from you a little bit about what he think we ought to be doing in terms of reliability and price spikes. You are quoted as having said, im also concerned about the price, but the absolute magnitude of the price and the variability. Nbcs price spikes of the symptom that protecting the liability is causing this issue. Can you elaborate . Is that an accurate quote . You never know. The quote was in that context, somebody had said we are mainly here to worry about reliability, not price. I made the comment, well, they are closely related. When you see the extraordinary price spike as we saw in some regions of the country in january and february, that means the grid operator is doing very unusual things to keep the lights on. That ultimately goes into customers pocketbooks. We need to say, why is that happening . What can we learn from it . We are in the middle of probably one of the biggest changes we have ever seen, particularly the increased reliance on natural gas to genera ....

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