NEM is pleased to announce that Pepco Energy Services (PES) has been elected to NEM’s Executive Committee. PES will be represented within NEM by John Huffman, President and COO, Mark Kumm, President and Chief Operating Officer, Retail Electric Supply, Stephen J. Fabiani, Vice President and General Manager, New England Operations and Sandy Guthorn, Manager of Energy Policy.

Pepco Energy Services (PES) is an Arlington, Virginia-based corporation that has been in existence for 13 years. PES has successfully evolved to become one of the leading providers of energy and energy-related products and services for the full range of energy users from small business customers to large commercial, institutional, industrial and government users. With more than $2 billion in annual revenue in 2007, PES now provides services from North Carolina to Massachusetts and from New York to Illinois and Texas. PES also offers green electricity to residential customers. A wholly owned, separately managed subsidiary of Pepco Holdings, Inc. (PHI), PES provides both energy suppliers and large energy users such as utilities, municipalities, cooperatives and aggregators with an array of energy management services including risk management and acquisition and management of power generation assets.

Their mission is to help energy and facility managers maximize their energy resources by providing a complete suite of cost-effective integrated energy solutions to achieve significant overall cost savings. These include energy assessments, Internet-based energy information systems, heating, ventilation and cooling systems, lighting, project financing, gas and electricity, and energy operations and maintenance services.

For small businesses, PES offers a variety of energy and energy-related products and services, including natural gas and electricity.

For residential, PES offers residential customers the choice of electricity generated 100% from wind or 100% from other renewable resources (green electricity).

Pepco Energy Services is located at 1300 North 17th Street, Suite #1600, in Arlington, VA 22209. They can be contacted at (703) 253-1800 for any additional questions.

Shell Energy North America (U.S.) L.P. (SENA) has been nominated to NEM's Executive Committee. Shell will be represented within NEM by Matthew J. Picardi. The Executive Committee must vote to approve SENA’s membership. Please forward your votes to headquarters no later than April 28, 2008.

Headquartered in Houston, with regional offices throughout the United States and Canada, Shell Energy North America is a wholly owned subsidiary of Royal Dutch Shell plc. In conjunction with its subsidiaries, SENA trades and markets natural gas, wholesale power and risk management products with counterparties and customers throughout the continent. SENA currently conducts most of its US business activities in the name of its subsidiaries Coral Power, L.L.C. and Coral Energy Resources, L.P. More information about SENA is available at Shell Energy North America (U.S.), L.P. (Shell), http://www.shell.com/us .

Matt Picardi, SENA Vice President - Regulatory Affairs, will be the company’s point of contact with NEM if the SENA’s membership is approved. Matt is located at 111 Washington Avenue, Suite #750, Albany, New York 12210. He can be contacted at (518) 433-0949 for any additional questions.

For those of you who don’t know Matt, he started his career with Niagara Mohawk Power Corporation as a regulatory and commercial transactions attorney. In that capacity, he tried many cases before the New York State Public Service Commission and Federal Energy Regulatory Commission ("FERC'), including rate cases and proceedings determining appropriate payments to be made to independent power producers under the Public Utility Regulatory Policies Act. In June of 1996, he was appointed General Counsel of Niagara Mohawk Energy, the natural gas and power marketing affiliate of Niagara Mohawk. Also, he was a co-founder and served as Chair of the National Energy Marketers Association.

Mr. Picardi became Dynegy's lead regulatory counsel for the Northeast United States in 2000. While in that position, he was extremely active in market design issues for electricity markets administered by the New York Independent System Operator ("NYISO") and was a member of NYISO's Management Committee and served as Chair of NYISO's Installed Capacity Working Group.

In December of 2002, Mr. Picardi joined Shell Energy North America to lead its natural gas and power regulatory activity for the North Region. For Shell Energy, this covers corporate affiliates that market and sell power in Canada and the regions covered by PJM Interconnection, Inc., NYISO, ISO-New England and Midwest ISO. He served as Chair of NYISO's Management Committee in 2007, and on the Stakeholder Advisory Committee for the Ontario Independent Electricity System Operator Board of Directors. Mr. Picardi is also a member of the Board of Directors of the Northeast Energy and Commerce Association.

Mr. Picardi holds a B.A from Hobart College and J.D. from Syracuse University College of Law. He lives in the Albany, New York area with his wife and three children.

NEM booked the new Embassy Suites Hotel Washington D.C. Convention Center for the Annual Spring Membership Meeting and Restructuring Conference on April 29 and 30, 2008. This year's theme is "Strategic Energy, Security & Advanced Technology Policies - Think Globally, Save Locally." Please register at this hotlink. A final agenda can be viewed at this hotlink.

Hotel accommodations have also been arranged at this facility located at 900 10th Street, NW, Washington, DC 20001. NEM has secured preferred hotel rates of $259.00 per night. Please call (202) 739-2001 to make your reservations.

We have also confirmed the following featured speakers for the event: Doug Hengel, U.S. Department of State, Gary Lunn, Canadian Minister of Natural Resources, Foreign officials from Russia, Israel, Romania, Slovenia, and Moldovia, C.H. "Bud Albright, Jr., Undersecretary of Energy for DOE, U.S. Senator Jim DeMint (R-SC), Member, Energy and Natural Resources Committee, US House Majority Whip James Clyburn (D-SC), U.S. Congressman Joe Barton (R-TX), U.S. Congressman John Shadegg (R-AZ), U.S. Congressman Tim Murphy (R-PA), FERC Commissioner Marc Spitzer, FERC Commissioner Jon Wellinghoff, CFTC Commissioner Michael Dunn, Natural Resources Canada Minister Gary Lunn, David Wales, Deputy Director, Bureau of Competition, Federal Trade Commission, Massachusetts DPU Chairman, Paul Hibbard, New York PSC Chairman, Garry Brown, Texas PUC Chairman, Barry SmithermanStan Wise, Commissioner Georgia PSC, Calvin Timmerman, Asst. Executive Director, Maryland PSC and Pennsylvania PUC Energy Advisor, Eric Matheson.

FERC Staff convened a technical conference to address questions associated with the new wholesale gas reporting requirement on Form 552 under Order 704. Staff compiled over 100 questions from stakeholders on Form 552 reporting and was not able to address all of the questions in the course of conference. Staff will convene another all-day workshop in order to finish answering all of the stakeholder questions. Staff will also recommend that the Commission not hear the eight outstanding petitions for rehearing on Order 704 until after the follow-up workshop takes place.

Staff prepared a Question Matrix (beginning on page 12) for which NEM has prepared an NEM Annotated Version with Staff answers given at the conference. Staff noted up-front that its responses were preliminary and subject to further consideration, and of course, are non-binding on the Commission. Staff also passed on answering most of the yellow highlighted questions that are the subject of outstanding petitions for rehearing.

With respect to the questions raised by NEM on reporting "NYMEX plus" transactions, Staff advised those transactions were reportable. They viewed them as "hybrid" transactions. Staff is considering whether a new line item should be added to page 5 of Form 552 to capture these transactions, amongst other solutions.

Also significant, because of the complexities with reporting identified in the stakeholder questions coupled with a current need for reporting entities to be capturing data to complete the form, Staff recognized that there may be a need to defer the effective date of the rule to next year.