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ECS DE LLC

Risks to 3rd Party TW Credit Risk ECS/ECT Credit Risk Power Utility Performance Risk Power Price Risk Deregulation Risk. ECT. ECS. 3rd Party. 100% owned DE C Corp. $1,159,835. $4,941,835. 19% Managing Partner. 81%. FEUS. $. or. retail power. Fuel Gas & Annual Charge. ECS

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ECS DE LLC

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  1. Risks to 3rd Party • TW Credit Risk • ECS/ECT Credit Risk • Power Utility Performance Risk • Power Price Risk • Deregulation Risk ECT ECS 3rd Party 100% owned DE C Corp $1,159,835 $4,941,835 19% Managing Partner 81% FEUS $ or retail power Fuel Gas & Annual Charge ECS DE LLC $ Fuel Gas NTUA TW PNM Shipper $ retail power HP-Hours wholesale power Transportation $ Fuel Gas O&M Services $ $ ECT ECS TW Gas • Annual Charge = • Fixed Costs • O&M • Capital Recovery

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