As I understand the situation, Plains and Tri-State have indicated their  intent to close the merger.
Tim's best intelligence is that a June 1 closing  date is the best they can hope for and it may be late June or later.
Also,   until the deal actually closes, there is always a small chance it could come  undone.
If we get Gallup in service May 1, we have a 1 month or greater bust  between our in service date and the date the cheap electric rate kicks in.
Has Courtney got this covered?
I suspect he's been thrashing around so much  on locking in the swap that it hasn't been on his radar screen.
I think we should formally notify ECS that we expect them to negotiate a  favorable interim power deal to cover the gap between our in service date and  the merger closing.
(the difference between the $.038 and .067 rate was  about $200,000/ month as I recall, so this is worth some real $$$)  Also, we  ought to remind Courtney that he is still obligated to find a better deal for  us if the merger goes south for some reason.
I drafted a letter  awhile back  that could be updated for this purpose.
Susan, assuming Steve and company  agree, could you follow up on this (I'm having Martha email it to you).
The  contract requires us to notify ECS by March 1.
Thanks.
DF

Gallup

As I understand the situation, Plains and Tri-State have indicated their intent to close the merger.
Tim's best intelligence is that a June <NUMBER> closing date is the best they can hope for and it may be late June or later.
Also, until the deal actually closes, there is always a small chance it could come undone.
If we get Gallup in service May <NUMBER>, we have a <NUMBER> month or greater bust between our in service date and the date the cheap electric rate kicks in.
Has Courtney got this covered?
I suspect he's been thrashing around so much on locking in the swap that it hasn't been on his radar screen.
I think we should formally notify ECS that we expect them to negotiate a favorable interim power deal to cover the gap between our in service date and the merger closing.
(the difference between the <CUR><NUMBER> and <NUMBER> rate was about <CUR><NUMBER>/ month as I recall, so this is worth some real <CUR>) Also, we ought to remind Courtney that he is still obligated to find a better deal for us if the merger goes south for some reason.
I drafted a letter awhile back that could be updated for this purpose.
Susan, assuming Steve and company agree, could you follow up on this (I'm having Martha email it to you).
The contract requires us to notify ECS by March <NUMBER>.
Thanks.
DF
cheap electric rate drafted letter awhile tri state suspect thrashing locking courtney got covered understand situation plains date merger closing follow having martha difference cur number requires notify ecs