tu Consumed 0.000 91.85 453.9 702.1 Rate  [ lb/ MMBtu] 0.000 0.5070E 06 0.5070E 06 0.5070E 06 TWh Generated 0.000 10.57 52.24 80.80 TWh Generated Qualifying 0.000 10.57 52.24 129.1 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.129 Environmental Measures Report Constraint Name: ZKM Bit Plant Specific Fuel Limit Constraint Constraint #: 129 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1501E 04 0.1501E 04 0.1501E 04  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.130 Environmental Measures Report Constraint Name: ZKL Bit Plant Specific Fuel Limit Constraint Constraint #: 130 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1501E 04 0.1501E 04 0.1501E 04  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.131 Environmental Measures Report Constraint Name: ZII Bit Plant Specific Fuel Limit Constraint Constraint #: 131 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1968E 05 0.1968E 05 0.1968E 05  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.132 Environmental Measures Report Constraint Name: ZIH Bit Plant Specific Fuel Limit Constraint Constraint #: 132 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1968E 05 0.1968E 05 0.1968E 05  Emissions at Affected Plants [ Lb] 0.000 0.000 193.0 1042.  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 193.0 1042.

TBtu Consumed 0.000 0.000 240.1 773.6 Rate  [ lb/ MMBtu] 0.000 0.000 0.8040E 06 0.1347E 05 TWh Generated 0.000 0.000 27.63 89.03 TWh Generated Qualifying 0.000 0.000 27.63 89.03 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.133 Environmental Measures Report Constraint Name: ZIG Bit Plant Specific Fuel Limit Constraint Constraint #: 133 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1501E 04 0.1501E 04 0.1501E 04  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.134 Environmental Measures Report Constraint Name: ZIF Bit Plant Specific Fuel Limit Constraint Constraint #: 134 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1501E 04 0.1501E 04 0.1501E 04  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.135 Environmental Measures Report Constraint Name: ZHK Bit Plant Specific Fuel Limit Constraint Constraint #: 135 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1968E 05 0.1968E 05 0.1968E 05  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.136 Environmental Measures Report Constraint Name: ZHJ Bit Plant Specific Fuel Limit Constraint Constraint #: 136 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1968E 05 0.1968E 05 0.1968E 05  Emissions at Affected Plants [ Lb] 0.000 0.000 81.87 267.6  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 81.87 267.6 TBtu Consumed 0.000 0.000 101.8 222.1 Rate  [ lb/ MMBtu] 0.000 0.000 0.8040E 06 0.1205E 05 TWh Generated 0.000 0.000 11.72 25.56 TWh Generated Qualifying 0.000 0.000 11.72 25.56 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.137 Environmental Measures Report Constraint Name: ZHI Bit Plant Specific Fuel Limit Constraint Constraint #: 137 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1501E 04 0.1501E 04 0.1501E 04  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.138 Environmental Measures Report Constraint Name: ZHH Bit Plant Specific Fuel Limit Constraint Constraint #: 138 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1501E 04 0.1501E 04 0.1501E 04  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.139 Environmental Measures Report Constraint Name: ZGM Bit Plant Specific Fuel Limit Constraint Constraint #: 139 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1968E 05 0.1968E 05 0.1968E 05  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.140 Environmental Measures Report Constraint Name: ZGL Bit Plant Specific Fuel Limit Constraint Constraint #: 140 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1968E 05 0.1968E 05 0.1968E 05  Emissions at Affected Plants [ Lb] 0.000 0.000 175.1 285.9  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 175.1 285.9 TBtu Consumed 0.000 0.000 217.7 355.6 Rate  [ lb/ MMBtu] 0.000 0.000 0.8040E 06 0.8040E 06 TWh Generated 0.000 0.000 25.06 40.92 TWh Generated Qualifying 0.000 0.000 25.06 40.92 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.141 Environmental Measures Report Constraint Name: ZGK Bit Plant Specific Fuel Limit Constraint Constraint #: 141 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1501E 04 0.1501E 04 0.1501E 04  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.142 Environmental Measures Report Constraint Name: ZGJ Bit Plant Specific Fuel Limit Constraint Constraint #: 142 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1501E 04 0.1501E 04 0.1501E 04  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.143 Environmental Measures Report Constraint Name: ZFR Bit Plant Specific Fuel Limit Constraint Constraint #: 143 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1968E 05 0.1968E 05 0.1968E 05  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.144 Environmental Measures Report Constraint Name: ZFQ Bit Plant Specific Fuel Limit Constraint Constraint #: 144 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1968E 05 0.1968E 05 0.1968E 05  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.145 Environmental Measures Report Constraint Name: ZFP Bit Plant Specific Fuel Limit Constraint Constraint #: 145 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1501E 04 0.1501E 04 0.1501E 04  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.146 Environmental Measures Report Constraint Name: ZFO Bit Plant Specific Fuel Limit Constraint Constraint #: 146 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1501E 04 0.1501E 04 0.1501E 04  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.147 Environmental Measures Report Constraint Name: ZEW Bit Plant Specific Fuel Limit Constraint Constraint #: 147 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1968E 05 0.1968E 05 0.1968E 05  Emissions at Affected Plants [ Lb] 0.000 80.64 293.4 419.6  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 80.64 293.4 419.6 TBtu Consumed 0.000 77.16 280.8 401.5 Rate  [ lb/ MMBtu] 0.000 0.1045E 05 0.1045E 05 0.1045E 05 TWh Generated 0.000 8.881 32.32 46.21 TWh Generated Qualifying 0.000 8.881 32.32 46.21 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.148 Environmental Measures Report Constraint Name: ZEV Bit Plant Specific Fuel Limit Constraint Constraint #: 148 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1968E 05 0.1968E 05 0.1968E 05  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.149 Environmental Measures Report Constraint Name: ZEU Bit Plant Specific Fuel Limit Constraint Constraint #: 149 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1501E 04 0.1501E 04 0.1501E 04  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.150 Environmental Measures Report Constraint Name: ZET Bit Plant Specific Fuel Limit Constraint Constraint #: 150 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1501E 04 0.1501E 04 0.1501E 04  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.151 Environmental Measures Report Constraint Name: ZEB Bit Plant Specific Fuel Limit Constraint Constraint #: 151 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1968E 05 0.1968E 05 0.1968E 05  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.152 Environmental Measures Report Constraint Name: ZEA Bit Plant Specific Fuel Limit Constraint Constraint #: 152 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1968E 05 0.1968E 05 0.1968E 05  Emissions at Affected Plants [ Lb] 0.000 0.000 493.6 596.5  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 493.6 596.5 TBtu Consumed 0.000 0.000 811.7 1015. Rate  [ lb/ MMBtu] 0.000 0.000 0.6080E 06 0.5878E 06 TWh Generated 0.000 0.000 93.42 116.8 TWh Generated Qualifying 0.000 0.000 93.42 150.1 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.153 Environmental Measures Report Constraint Name: ZDZ Bit Plant Specific Fuel Limit Constraint Constraint #: 153 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1501E 04 0.1501E 04 0.1501E 04  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.154 Environmental Measures Report Constraint Name: ZDY Bit Plant Specific Fuel Limit Constraint Constraint #: 154 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1501E 04 0.1501E 04 0.1501E 04  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.155 Environmental Measures Report Constraint Name: ZDJ Bit Plant Specific Fuel Limit Constraint Constraint #: 155 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1968E 05 0.1968E 05 0.1968E 05  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.156 Environmental Measures Report Constraint Name: ZDI Bit Plant Specific Fuel Limit Constraint Constraint #: 156 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1968E 05 0.1968E 05 0.1968E 05  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 309.4  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 309.4 TBtu Consumed 0.000 0.000 0.000 610.2 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.5070E 06 TWh Generated 0.000 0.000 0.000 70.22 TWh Generated Qualifying 0.000 0.000 0.000 70.22 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.157 Environmental Measures Report Constraint Name: ZDH Bit Plant Specific Fuel Limit Constraint Constraint #: 157 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1501E 04 0.1501E 04 0.1501E 04  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.158 Environmental Measures Report Constraint Name: ZDG Bit Plant Specific Fuel Limit Constraint Constraint #: 158 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1501E 04 0.1501E 04 0.1501E 04  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.159 Environmental Measures Report Constraint Name: ZCI Bit Plant Specific Fuel Limit Constraint Constraint #: 159 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1968E 05 0.1968E 05 0.1968E 05  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.160 Environmental Measures Report Constraint Name: ZCH Bit Plant Specific Fuel Limit Constraint Constraint #: 160 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1968E 05 0.1968E 05 0.1968E 05  Emissions at Affected Plants [ Lb] 0.000 0.000 370.3 157.9  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 370.3 157.9 TBtu Consumed 0.000 0.000 730.3 311.5 Rate  [ lb/ MMBtu] 0.000 0.000 0.5070E 06 0.5070E 06 TWh Generated 0.000 0.000 84.05 35.85 TWh Generated Qualifying 0.000 0.000 84.05 84.05 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.161 Environmental Measures Report Constraint Name: ZCG Bit Plant Specific Fuel Limit Constraint Constraint #: 161 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1501E 04 0.1501E 04 0.1501E 04  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.162 Environmental Measures Report Constraint Name: ZCF Bit Plant Specific Fuel Limit Constraint Constraint #: 162 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1501E 04 0.1501E 04 0.1501E 04  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.163 Environmental Measures Report Constraint Name: ZBY Bit Plant Specific Fuel Limit Constraint Constraint #: 163 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1968E 05 0.1968E 05 0.1968E 05  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.164 Environmental Measures Report Constraint Name: ZBX Bit Plant Specific Fuel Limit Constraint Constraint #: 164 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1968E 05 0.1968E 05 0.1968E 05  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.165 Environmental Measures Report Constraint Name: ZBW Bit Plant Specific Fuel Limit Constraint Constraint #: 165 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1501E 04 0.1501E 04 0.1501E 04  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.166 Environmental Measures Report Constraint Name: ZBV Bit Plant Specific Fuel Limit Constraint Constraint #: 166 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1501E 04 0.1501E 04 0.1501E 04  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.167 Environmental Measures Report Constraint Name: ZAX Bit Plant Specific Fuel Limit Constraint Constraint #: 167 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1968E 05 0.1968E 05 0.1968E 05  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.168 Environmental Measures Report Constraint Name: ZAW Bit Plant Specific Fuel Limit Constraint Constraint #: 168 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1501E 04 0.1501E 04 0.1501E 04  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.169 Environmental Measures Report Constraint Name: ZAV Bit Plant Specific Fuel Limit Constraint Constraint #: 169 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1968E 05 0.1968E 05 0.1968E 05  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 122.0  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 122.0 TBtu Consumed 0.000 0.000 0.000 240.5 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.5070E 06 TWh Generated 0.000 0.000 0.000 27.68 TWh Generated Qualifying 0.000 0.000 0.000 27.68 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.170 Environmental Measures Report Constraint Name: ZAU Bit Plant Specific Fuel Limit Constraint Constraint #: 170 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1501E 04 0.1501E 04 0.1501E 04  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.171 Environmental Measures Report Constraint Name: ZAN Bit Plant Specific Fuel Limit Constraint Constraint #: 171 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1968E 05 0.1968E 05 0.1968E 05  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.172 Environmental Measures Report Constraint Name: ZAM Bit Plant Specific Fuel Limit Constraint Constraint #: 172 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1968E 05 0.1968E 05 0.1968E 05  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 172.3  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 172.3 TBtu Consumed 0.000 0.000 0.000 155.4 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.1109E 05 TWh Generated 0.000 0.000 0.000 17.88 TWh Generated Qualifying 0.000 0.000 0.000 17.88 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.173 Environmental Measures Report Constraint Name: ZAL Bit Plant Specific Fuel Limit Constraint Constraint #: 173 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1501E 04 0.1501E 04 0.1501E 04  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.174 Environmental Measures Report Constraint Name: ZAK Bit Plant Specific Fuel Limit Constraint Constraint #: 174 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1501E 04 0.1501E 04 0.1501E 04  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.175 Environmental Measures Report Constraint Name: YZR Bit Plant Specific Fuel Limit Constraint Constraint #: 175 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1968E 05 0.1968E 05 0.1968E 05  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.176 Environmental Measures Report Constraint Name: YZQ Bit Plant Specific Fuel Limit Constraint Constraint #: 176 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1968E 05 0.1968E 05 0.1968E 05  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.177 Environmental Measures Report Constraint Name: YZP Bit Plant Specific Fuel Limit Constraint Constraint #: 177 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1501E 04 0.1501E 04 0.1501E 04  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.178 Environmental Measures Report Constraint Name: YZO Bit Plant Specific Fuel Limit Constraint Constraint #: 178 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1501E 04 0.1501E 04 0.1501E 04  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.179 Environmental Measures Report Constraint Name: YZH Bit Plant Specific Fuel Limit Constraint Constraint #: 179 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1968E 05 0.1968E 05 0.1968E 05  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.180 Environmental Measures Report Constraint Name: YZG Bit Plant Specific Fuel Limit Constraint Constraint #: 180 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1968E 05 0.1968E 05 0.1968E 05  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.181 Environmental Measures Report Constraint Name: YZF Bit Plant Specific Fuel Limit Constraint Constraint #: 181 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1501E 04 0.1501E 04 0.1501E 04  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.182 Environmental Measures Report Constraint Name: YZE Bit Plant Specific Fuel Limit Constraint Constraint #: 182 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1501E 04 0.1501E 04 0.1501E 04  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.183 Environmental Measures Report Constraint Name: YYG Bit Plant Specific Fuel Limit Constraint Constraint #: 183 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1968E 05 0.1968E 05 0.1968E 05  Emissions at Affected Plants [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 0.000 0.000 TBtu Consumed 0.000 0.000 0.000 0.000 Rate  [ lb/ MMBtu] 0.000 0.000 0.000 0.000 TWh Generated 0.000 0.000 0.000 0.000 TWh Generated Qualifying 0.000 0.000 0.000 0.000 Rate  [ lb/ MWh] 0.000 0.000 0.000 0.000 Constraint Shadow Price [ US$/ Lb] 0.000 0.000 0.000 0.000 MACT 2003_ sensitivity  MACT proposal 2003 with alternative assumptions for natural gas and electric growth Page: 10.184 Environmental Measures Report Constraint Name: YYF Bit Plant Specific Fuel Limit Constraint Constraint #: 184 Constraint Type: Rate Limit [ lb/ MMBtu] Run Year, Seasons Included: 2005 WINTER SUMMER Run Year, Seasons Included: 2010 WINTER SUMMER Run Year, Seasons Included: 2020 WINTER SUMMER Run Year, Seasons Included: 2026 WINTER SUMMER Time Base: Seasonal/ Annual 2005 2007 2008 2014 2015 2022 2023 2030 Standard  [ lb/ MMBtu] 1.000 0.1968E 05 0.1968E 05 0.1968E 05  Emissions at Affected Plants [ Lb] 0.000 0.000 1060. 1665.  Less Allowances Purchased [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Sold [ Lb] MER 0.000 0.000 0.000 0.000  Plus Allowances Banked [ Lb] 0.000 0.000 0.000 0.000  Less Allowances Withdrawn [ Lb] 0.000 0.000 0.000 0.000 Total [ Lb] 0.000 0.000 1060. 1665.


[Federal Register Volume 84, Number 204 (Tuesday, October 22, 2019)]
[Notices]
[Pages 56494-56496]
[FR Doc No: 2019-22931]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-87316; File No. SR-NYSEArca-2019-58]

Self-Regulatory Organizations; NYSE Arca, Inc.; Order Approving a
Proposed Rule Change To Modify Rules 6.60-O and 6.65A-O Regarding the
Treatment of Orders Subject to Trade Collar Protection

October 16, 2019.

I. Introduction

    On August 21, 2019, NYSE Arca, Inc. (``NYSE Arca'' or the
``Exchange'') filed with the Securities and Exchange Commission (the
``Commission''), pursuant to Section 19(b)(1) \1\ of the Securities
Exchange Act of 1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ a
proposed rule change to modify Exchange Rules 6.60-O and 6.65A-O
regarding the treatment of orders subject to Trade Collar Protection.
The proposed rule change was published for comment in the Federal
Register on September 4, 2019.\4\ The Commission received no comments
on the proposal. This order approves the proposed rule change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
    \4\ Securities Exchange Act Release No. 86788 (August 28, 2019),
84 FR 46593 (September 4, 2019) (``Notice'').
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II. Description of the Proposal

    The Exchange states that it proposes to modify Rule 6.60-O(a) to
clarify existing functionality and to adopt enhancements to the
operation of the Trading Collars.\5\ The Exchange applies Trade Collar
Protection to incoming orders. As described more fully in the Notice,
the Exchange states that Trading Collars \6\ mitigate the risks
associated with orders sweeping through multiple price points
(including during extreme market volatility) and resulting in
executions at prices that are potentially erroneous.\7\ According to
the Exchange, by applying Trading Collars to incoming orders, the
Exchange provides an opportunity to attract additional liquidity at
tighter spreads and it ``collars'' affected orders at successive price
points until the bid and offer are equal to the bid-ask differential
guideline for that option (i.e., equal to the Trading Collar).\8\
Similarly, by applying Trading Collars to partially executed orders,
the Exchange states that it prevents the balance of such orders from
executing away from the prevailing market after exhausting interest at
or near the top of book on arrival.\9\
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    \5\ See Notice, supra note 4, at 46594.
    \6\ ``Trading Collars'' are determined by the Exchange on a
class-by-class basis and, unless announced otherwise via Trader
Update, are the same value as the bid-ask differential guidelines
established pursuant to Rule 6.37-O(b)(4). See Rule 6.60(a)(2).
    \7\ See Notice, supra note 4, at 46594.
    \8\ See id.
    \9\ See id.
---------------------------------------------------------------------------

    Current Rule 6.60-O(a)(1)(i) states that Trade Collar Protection
prevents the ``immediate execution'' of incoming market orders when the
difference between the National Best Offer (``NBO'') and the National
Best Bid (``NBB'') is greater than one Trading Collar. Rule 6.60-O(a)
currently states that Trade Collar Protection would apply to any
unexecuted portion of a marketable limit order. The Exchange proposes
to modify Rule 6.60-O(a) to make clear that Trade Collar Protection may
also be applied to marketable limit orders on arrival. The Exchange
asserts that this proposed change would clarify how Trade Collar
Protection currently operates, and that the Exchange would continue to
apply Trade Collar Protection to the balance of Marketable Orders \10\
consistent with the current rule.\11\
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    \10\ ``Marketable Orders'' are defined as incoming market orders
and marketable limit orders under the proposed rule. See proposed
Rule 6.60-O(a)(1)(A).
    \11\ See Notice, supra note 4, at 46594.
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    The Exchange also proposes to modify the current Rule 6.60-O(a)(3),
which currently states that order types that have contingencies,
namely, IOC, NOW, AON, and FOK orders, would receive an ``immediate
execution.'' The proposed modifications would clarify that such
incoming orders would ``receive an execution, depending upon the
availability of an execution pursuant to the terms of those orders.''
\12\
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    \12\ See proposed Rule 6.60-O(a)(3). The Exchange believes that
removing the word ``immediate'' would more accurately reflect the
Exchange's current functionality in regards to the processing of
these contingent order types, insofar as such orders will only
``immediately'' execute if the contingency is satisfied. See Notice,
supra note 4, at 46594.
---------------------------------------------------------------------------

    In addition, the Exchange proposes to modify current Rule 6.60-
O(a)(4) to make clear that when Marketable (as opposed to just market)
Orders are subject to Trade Collar Protection, the Exchange will limit
the ``execution and/or routing'' of such orders.\13\ The Exchange also
proposes to make clear that this provision relates to ``incoming''
Marketable Orders as opposed to the balance thereof.\14\
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    \13\ The current rule states that when a market order is subject
to Trade Collar Protection, the Exchange does not ``immediately
execute or route such orders.''
    \14\ See proposed Rule 6.60-O(a)(4). See also proposed Rule
6.60-O(a)(1)(A) (making clear that incoming marketable limit orders
are subject to Trade Collar Protection).
---------------------------------------------------------------------------

    Proposed Rule 6.60-O(a)(4)(A) would provide that ``[a] Market Order
to buy (sell) received when there is already a collared order to buy
(sell) will join that collared order and be processed consistent with
paragraphs (a)(4)(C)-(a)(6),'' which the Exchange states reflects
current functionality.\15\ The Exchange also proposes Rule 6.60-
O(a)(4)(B) to specify that collared orders will be assigned a ``collar
execution price,'' which price depends upon the order type (market or
limit) and whether (when the order arrives) the Exchange is already in
receipt of another order being collared.\16\ Current Rule 6.60-
O(a)(4)(A) covers collared market orders to buy (sell), which would not
immediately execute or route, but would be ``displayed at a price equal
to the NBB (NBO) plus (minus) one Trading Collar.'' The Exchange
proposes to replace ``displayed'' as used in the current rule with
``assigned a collar execution price'' because, according to the
Exchange, once collared, the order would be eligible to immediately
execute against available interest before its price is displayed.\17\
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    \15\ See Notice, supra note 4, at 46595.
    \16\ See proposed Rule 6.60-O(a)(4).
    \17\ See Notice, supra note 4, at 46595. The Exchange states
that this is consistent with its current functionality. See id.
---------------------------------------------------------------------------

    In addition, the Exchange proposes an exception to the processing
of incoming market orders to buy (sell) that arrive when the NBB (NBO)
is zero (``Zero NBBO Collar Exception''). Specifically, as proposed, a
market order to buy entered when the NBB is $0.00 would be assigned a
collar execution price equal to the NBB (i.e., $0.00) plus one Trading
Collar to ensure it is collared to avoid executing at an erroneous
price; whereas, a market order to sell entered when the NBO is $0.00
would be rejected as there would be no market for the incoming
order.\18\
---------------------------------------------------------------------------

    \18\ See proposed Rule 6.60-O(a)(4)(B)(i), (ii). The Exchange
believes the Zero NBBO Collar Exception would improve the operation
of Trading Collars when the prevailing market is zero (indicating
market dislocation) at the time an incoming market order arrives.
See Notice, supra note 4, at 46595.
---------------------------------------------------------------------------

    In addition, because Rule 6.60-O(a)(1)(A) has been updated to
clarify that incoming marketable limit orders may be collared, the
Exchange proposes to further update Rule 6.60-O(a) to address how such
orders would be collared, depending upon whether the Exchange is
already in receipt of a

collared order.\19\ Specifically, as proposed, modified Rule 6.60-
O(a)(4)(C) would state that when the incoming collared order is a
marketable limit order to buy (sell) and there is no other order
already being collared, the order would be ``assigned a collar
execution price equal to the NBO (NBB).'' If, however, a marketable
limit order arrives when there is already an order being collared, it
would join that collared order and be processed consistent with
proposed Rule 6.60-O(a)(6)(B).\20\ The Exchange states that this is
consistent with current functionality.\21\
---------------------------------------------------------------------------

    \19\ See id.
    \20\ See proposed Rule 6.60-O(a)(4)(C).
    \21\ See Notice, supra note 4, at 46595.
---------------------------------------------------------------------------

    The Exchange also proposes to modify the rule regarding executions
of collared orders. The Exchange proposes to clarify that a collared
order to buy (sell) would ``trade against any contra-side interest
priced equal to its collar execution price or at prices within one
Trading Collar above (below) the collar execution price (``Collar
Range'').'' \22\ Consistent with proposed Rule 6.60-O(a)(4)(B),(C), the
Exchange proposes to refer to the ``collar execution price'' (as
opposed to a display price). In addition, the Exchange believes that
clarifying that the collared order would execute with contra-side
interest priced within a Collar Range (i.e., equal to, and up to one
Trading Collar above (below) the collar execution price), provides more
specificity than the current language, which states only that such
order would execute against interest ``within one Trading Collar'' of
its price.\23\
---------------------------------------------------------------------------

    \22\ See proposed Rule 6.60-O(a)(4)(D).
    \23\ See Notice, supra note 4, at 46595. The Exchange believes
these proposed changes, which describe current functionality, would
add clarity, transparency, and internal consistency to Exchange
rules. See id.
---------------------------------------------------------------------------

    In addition, the Exchange proposes to add new paragraph (a)(4)(E)
to Rule 6.60-O to codify existing functionality and make clear that the
Exchange would cancel a market order, or the balance thereof, that has
been collared pursuant to proposed Rule 6.60-O(a)(1)(A) or (B) if,
after exhausting trading opportunities within the Collar Range, the
Exchange determines there are no quotes on the Exchange and/or no
interest on another market (``Available Interest'').\24\
---------------------------------------------------------------------------

    \24\ See id. According to the Exchange, the absence of Available
Interest, such as a market maker quote in the series, means that the
Exchange would have no reliable price framework within which to
evaluate the market order. See id.
---------------------------------------------------------------------------

    The Exchange also proposes to modify the rule language describing
the treatment of the balance of a Marketable Order that is subject to
Trade Collar Protection. Pursuant to new Rule 6.60-O(a)(5), a market
order that does not trade on arrival will be displayed at its collar
execution price whereas the display price of the balance of a partially
executed Marketable Order collared pursuant to proposed Rule 6.60-
O(a)(1)(B), depends upon eligible contra-side interest.\25\
Specifically, proposed Rule 6.60-O(a)(5)(A) would provide that if the
collared order has traded against all contra-side interest within the
Collar Range, the order would be displayed at the most recent execution
price. If, however, there is contra-side interest priced within one
Trading Collar of the most recent execution price, proposed Rule 6.60-
O(a)(5)(B) would provide that the order to buy (sell) would be
displayed at the higher (lower) of its assigned collar execution price
or the best execution price of the order that is both within the Collar
Range and at least one Trading Collar away from the best priced contra-
side trading interest (i.e., lowest sell interest for collared buy
orders/highest buy interest for collared sell orders).\26\
---------------------------------------------------------------------------

    \25\ See proposed Rule 6.60-O(a)(5).
    \26\ The Exchange believes adding this information to the rule
would add transparency, clarity and internal consistency to Exchange
rules. See Notice, supra note 4, at 46596.
---------------------------------------------------------------------------

    In addition, the Exchange also proposes to add rule text to Rule
6.60-O(a)(5) to state that collared orders would be displayed at the
Minimum Price Variation (``MPV'') for the option, pursuant to Rule
6.72-O (Trading Differentials) which rule sets forth the minimum
quoting increments for options traded on the Exchange.\27\
---------------------------------------------------------------------------

    \27\ See proposed Rule 6.60-O(a)(5).
---------------------------------------------------------------------------

    Current Rule 6.60-O(a)(4)(C) sets forth scenarios that would
trigger the ``redisplay'' of a collared order. The Exchange proposes to
state that the Exchange would ``assign a new collar execution price''
to (as opposed to redisplay) the collared order under each of the
listed scenarios, as well as make other changes that conform the rule
text with the changes described above.\28\ In addition, the Exchange
proposes to state in Rule 6.60-O(a)(6)(C) that ``if the collared order
is a Market Order to sell that has reached $0.00, it will not reprice
but will be posted in the Consolidated Book at its MPV (e.g., $0.01 or
$0.05),'' because an order may never be posted for lower than its MPV,
and the alternative to holding the order at the MPV would be to cancel
it.\29\
---------------------------------------------------------------------------

    \28\ See proposed Rule 6.60-O(a)(6).
    \29\ See Notice, supra note 4, at 46597.
---------------------------------------------------------------------------

    The Exchange also proposes to clarify current Rule 6.60-O(a)(6).
The Exchange states that because the current rule text does not make
clear that collared orders, like non-collared orders, will be processed
at each price in time priority, the Exchange proposes to clarify that
such orders would be ``processed in accordance with Rule 6.76-O.Order
Ranking and Display--OX.'' \30\
---------------------------------------------------------------------------

    \30\ See proposed Rule 6.60-O(a)(8).
---------------------------------------------------------------------------

    The proposed rule change would also make several non-substantive
technical and organizational changes to proposed Rule 6.60-O(a), such
as changes to conform the numbering and lettering of the rule, as well
as to update cross-references and terminology in connection with the
changes described above.
    Finally, the Exchange proposes to modify Rule 6.65A-O (``Limit-Up
and Limit-Down During Extraordinary Market Volatility''), related to
the Plan to Address Extraordinary Market Volatility Pursuant to Rule
608 of Regulation NMS (``LULD'' or the ``LULD Rule''). The Exchange
proposes to add rule text to state that the Exchange, under existing
functionality, ``will cancel any Market Order that is a collared order
pursuant to Rule 6.60-O(a)'' if the underlying NMS stock enters an LULD
State and ``will notify OTP Holders of the reason for such
cancellation.'' \31\
---------------------------------------------------------------------------

    \31\ See proposed Rule 6.65A-O(a)(1).
---------------------------------------------------------------------------

III. Discussion and Commission Findings

    After careful review, the Commission finds that the proposed rule
change is consistent with the requirements of the Act and the rules and
regulations thereunder applicable to a national securities
exchange.\32\ In particular, the Commission finds that the proposed
rule change is consistent with Section 6(b)(5) of the Act,\33\ which
requires, among other things, that the rules of a national securities
exchange be designed to prevent fraudulent and manipulative acts and
practices, to promote just and equitable principles of trade, to remove
impediments to and perfect the mechanism of a free and open market and
a national market system, and, in general, to protect investors and the
public interest.
---------------------------------------------------------------------------

    \32\ In approving this proposal, the Commission has considered
the proposed rule's impact on efficiency, competition, and capital
formation. See 15 U.S.C. 78c(f).
    \33\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    The Commission notes that the Exchange believes that the proposed
changes that codify existing functionality, including how incoming
marketable limit orders are collared and the cancellation of collared
market orders in the absence of Available Interest or if an NMS stock
enters an LULD state would add clarity, transparency and internal
consistency to

Exchange rules regarding the handling of orders accepted by the
Exchange and make such rules easier for market participants to navigate
and comprehend.\34\
---------------------------------------------------------------------------

    \34\ See Notice, supra note 4, at 46599.
---------------------------------------------------------------------------

    In addition, the Exchange believes that the proposal to codify that
the Exchange would cancel a market order or the balance thereof that
has been collared once it has exhausted trading opportunities within
its collar execution price plus/minus one Trading Collar if there is no
Available Interest would protect investors from potentially erroneous
executions.\35\ Further, the Exchange believes that the proposal to
codify current functionality regarding a collared order that is a
market order to sell that has reached $0.00 such that the Exchange will
post the order at its MPV (e.g., $0.01 or $0.05) would promote just and
equitable principles of trade and assist with the maintenance of fair
and orderly markets because an order may never be posted for lower than
its MPV and the alternative to holding the order at the MPV would be to
cancel it.\36\ The Exchange believes the proposed clarification of how
such orders are handled provides the collared order an opportunity for
an execution (rather than being cancelled) and adds transparency and
internal consistency to Exchange rules.\37\
---------------------------------------------------------------------------

    \35\ See id.
    \36\ See id.
    \37\ See id.
---------------------------------------------------------------------------

    The Commission notes that the Exchange believes that the Zero NBBO
Collar Exception would improve the operation of the Trading Collar when
the prevailing market is zero (which the Exchange states indicates
market dislocation) at the time an incoming market order arrives.\38\
The Exchange states that absent the proposed Zero NBBO Collar
Exception, a market order to buy (sell) that arrives when the NBB (NBO)
is zero would trade based on the last sale price, if any.\39\ The
Exchange notes that if there is no last sale price, the order would
trade at the contra-side NBBO which may result in a bad execution
price.\40\ In regards to the proposal to reject (as opposed to collar)
incoming sell orders when the NBO is zero, the Exchange believes this
change in functionality is necessary because any attempt to collar such
an order would result in a negative number. In addition, the Exchange
states that it has observed that it is extremely uncommon to have a no
(zero) offer situation and believes it could be indicative of unstable
market conditions.\41\ To avoid such orders receiving bad executions in
times of market dislocation, the Exchange believes it would be
appropriate to reject such orders.\42\
---------------------------------------------------------------------------

    \38\ See id.
    \39\ See id.
    \40\ See id.
    \41\ See id.
    \42\ See id.
---------------------------------------------------------------------------

    The Exchange also believes that it is appropriate that the Exchange
cancel a market order that is collared when an NMS stock enters an LULD
state because when the underlying NMS stock enters an LULD state, there
may not be a reliable underlying reference price, there may be a wide
bid/ask quotation differential in the option, and there may be less
liquidity in the options markets.\43\ According to the Exchange,
allowing a collared Market Order to execute (as opposed to cancel) in
such circumstances could lead to executions at unintended prices (i.e.,
inferior to the NBBO), and could add to volatility in the options
markets during times of extraordinary market volatility.\44\ The
Exchange believes that this current treatment of collared market orders
provides certainty to the treatment of Market Orders during these
times, and the proposal to explicitly state this treatment in the rule
text adds clarity and transparency to Exchange rules, thus promoting
just and equitable principles of trade and removing impediments to, and
perfecting the mechanism of, a free and open market and a national
market system.\45\ The Exchange states that the proposed cancellation
of an options order if the underlying NMS security is in an LULD state
is not new or novel and is available on other options exchanges that
offer similar collar functionality.\46\ The Exchange believes that the
proposed rule changes would add transparency and specificity to
Exchange rules.\47\
---------------------------------------------------------------------------

    \43\ See id.
    \44\ See id.
    \45\ See id.
    \46\ The Exchange cites CBOE Rule 6.3A(b)(1) (LULD rule citing
Rule 6.2 regarding order handling); CBOE Rule 6.2, Interpretations
and Policies .07 and NASDAQ Options Market Ch. V, Sec. 3(d).
However, the Exchange notes that it believes that the rules of these
other exchanges do not specifically contemplate the underlying
security entering an LULD state while a market order is resting on
the book, because such orders typically execute on arrival. See
Notice, supra note 4, at 46599.
    \47\ See id.
---------------------------------------------------------------------------

    The Commission believes that the operation of the Trade Collar
Protection mechanism set forth in the proposal is consistent with the
Act. In addition, the Commission believes that the revised description
of this mechanism should increase transparency with respect to how the
mechanism operates and enhance investors' understanding of how the
mechanism may affect their orders in certain market conditions.
Accordingly, the Commission believes that the proposal is reasonably
designed to help prevent fraudulent and manipulative acts and
practices, promote just and equitable principles of trade, remove
impediments to and perfect the mechanism of a free and open market and
a national market system, and, in general, protect investors and the
public interest.

IV. Conclusion

    It is therefore ordered, pursuant to Section 19(b)(2) of the
Act,\48\ that the proposed rule change (SR-NYSEArca-2019-58) be, and it
hereby is, approved.
---------------------------------------------------------------------------

    \48\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\49\
---------------------------------------------------------------------------

    \49\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019-22931 Filed 10-21-19; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 88, Number 208 (Monday, October 30, 2023)]
[Notices]
[Pages 74225-74226]
[FR Doc No: 2023-24019]

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SECURITIES AND EXCHANGE COMMISSION

Sunshine Act Meetings

TIME AND DATE: 2:00 p.m. on Thursday, November 2, 2023.

PLACE: The meeting will be held via remote means and/or at the
Commission's headquarters, 100 F Street NE, Washington, DC 20549.

STATUS: This meeting will be closed to the public.

MATTERS TO BE CONSIDERED: Commissioners, Counsel to the Commissioners,
the Secretary to the Commission, and recording secretaries will attend
the closed meeting. Certain staff members who have an interest in the
matters also may be present.
    In the event that the time, date, or location of this meeting
changes, an announcement of the change, along with the new time, date,
and/or place of the meeting will be posted on the Commission's website
at https://www.sec.gov.

    The General Counsel of the Commission, or her designee, has
certified that, in her opinion, one or more of the exemptions set forth
in 5 U.S.C. 552b(c)(3), (5), (6), (7), (8), 9(B) and (10) and 17 CFR
200.402(a)(3), (a)(5), (a)(6), (a)(7), (a)(8), (a)(9)(ii) and (a)(10),
permit consideration of the scheduled matters at the closed meeting.
    The subject matter of the closed meeting will consist of the
following topics:

Institution and settlement of injunctive actions;
Institution and settlement of administrative proceedings;
Resolution of litigation claims; and
    Other matters relating to examinations and enforcement proceedings.

    At times, changes in Commission priorities require alterations in
the scheduling of meeting agenda items that may consist of
adjudicatory, examination, litigation, or regulatory matters.

CONTACT PERSON FOR MORE INFORMATION: For further information; please
contact Vanessa A. Countryman from the Office of the Secretary at (202)
551-5400.

    Authority: 5 U.S.C. 552b.

    Dated: October 26, 2023.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2023-24019 Filed 10-26-23; 4:15 pm]
BILLING CODE 8011-01-P