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The Spark
(914) 381-6300 F (914) 381-6303 March 10, 2010

EPA Memo-Cogen’s Energy Price Commentary & Technical Research

atural Gas & Electricity

Natural Gas is now consolidating at new 3 month lows. The commodity has been under pressure from mild weather forecasts and
ample supplies of gas. Total storage levels are expected to end this years withdrawal season 3.5 % above the five year average due to
a combination of resilient domestic production and a stagnant economy.

Technically Natural Gas has broken all near-term support and put it second consecutive lower low. At the risk of sounding like a
broken record we still continue to recommend variable pricing products to our clients in both Natural Gas and Electricity. "The
Spark" sees no end in sight for at least the next quarter before the summer demand season starts, of any increase in prices.

Natural Gas Strip Current Price*

6 Month 4.62
12 Month 5.04
24 Month 5.37

PJM Electric Strip Current Price*

6 Month 4.95¢
12 Month 4.55¢
24 Month 4.87¢

NJ SREC Current Price*

2010 $664.
Natural Gas 1 Year Strip

*prices are a snapshot at time of composition. Price changes are on a publication over publication change.

This Newsletter is authored by Michael E. Mollin. The information contained herein is believed to be reliable, however, Energy Portfolio Associates
("EPA") and M.ichael e. Mollin do not warrant it's completeness or accuracy. Quotes are estimates and are not guaranteed by either EPA or MEM. Neither
EPA or MEM is acting as your advisor and the decision to proceed with any transaction rest solely with you. Copyright 2010, M.E. Mollin & Company,
LLC