Monday, June 02, 2008
7:30 AM - 5:15 PM
Registration Open



7:30 AM - 8:30 AM
Continental Breakfast

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8:30 AM - 8:45 AM
Chairs Welcome and Introductions

Lance Etcheverry
Managing Director
J.P. Morgan Securities Inc.

Mike Stanton
Publisher
The Bond Buyer

George Wolf
Partner
Orrick, Herrington & Sutcliffe LLP



8:45 AM - 9:45 AM
America's Energy Future: What's the Public-Sector's Role?

Moderator:
Gary Krellenstein
Managing Director
JPMorgan

Barry Smitherman
Chair
Texas Public Utility Commission

Mark Crisson
President & CEO
APPA

Dave Schryver
Executive Vice President
American Public Gas Association



9:45 AM - 10:45 AM
Market Conditions and What They Mean for Your Deal

The credit markets have endured a period of almost unprecedented turmoil and ever-tighter liquidity. How did we get here, and what's ahead for interest rates and the availability of capital in the tax-exempt marketplace? Specific issues include:

• What's happened to the Financials and Bond Insurers?
• How has the prepaid gas market been impacted?
• What's the future outlook for interest rates, spreads between taxable and tax-exempt paper and credit spreads?
• What are the keys to renewed market access and execution of existing demand?

Lance Etcheverry
Managing Director
J.P. Morgan Securities Inc.

Randall Finken
VP
Goldman Sachs & Co.

Mark Widener
Managing Director
Merrill Lynch & Co.



10:45 AM - 11:15 AM
Refreshment Break & Networking Opportunity

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11:15 AM - 12:30 PM
Inside the Issuer's Mind

Prepaid energy transactions are large, complex deals, and most issuers employ unique processes for evaluating and ultimately deciding whether to move forward with a deal. This panel will feature a diverse group of issuers discussing the decision matrices they've developed for use in this field. The panel will also address the hot topics in the sector today, including:

• What level of input can the municipality have when determining the gas supplier?
• How do you integrate a prepay deal with the rest of your gas-management program? How much is the right amount to prepay?
• What goes into selecting the supplier?
• How has the market fluctuation this past year affected your decision? What are the alternatives to these deals?

Moderator:
Robyn Moore
VP
George K. Baum & Co.

Joe Holmes
Lead Energy Trader
Colorado Springs Utilities

Susan Reeves
CFO
Municipal Gas Authority of Georgia

Noreen Roche Carter
Treasurer
Sacramento Municipal Utility District



12:30 PM - 2:00 PM
Luncheon with Speaker

Jan McFarland
Director
California Alternative Energy and Advanced Transportation Financing Authority



2:00 PM - 3:15 PM
Key Gas Legal Issues

• What are issues that are considered in prepays for tax purposes?
• Prepays and commodity swaps - how do you structure for the best?
• More equity gas suppliers are becoming involved in the process, when does the supply chain change?

Moderator:
Douglas Bird
Partner
McKee Nelson LLP

Mitch Rapaport
Partner
Nixon Peabody LLP

Darrell Smelcer
Partner
Hunton & Williams LLP

George Wolf
Partner
Orrick, Herrington & Sutcliffe LLP



3:15 PM - 4:15 PM
Gas Supply Remains Critical

• What is the role of the equity gas supplier?
• What are the supply challenges on certain pipelines?
• What are the unique physical gas provisions to be considered?
• What do you see as the trends/challenges we face going forward?

Troy B. Black
Managing Director - Structured Products
BP Gas & Power, North America

Christopher Calger
Managing Director
JPMorgan Global Commodities

Stephen Hanan
Director
Merrill Lynch Commodities, Inc.

Rodney Malcolm
Managing Director
CEI



4:15 PM - 4:45 PM
Afternoon Break & Networking Opportunity

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4:45 PM - 5:30 PM
Is Nuclear Making A Comeback?

• Will new reactor designs be enough to make nuclear investments economic?
• What role will municipal issuers play in funding the next generation of plants?
• What will the Federal role be - will it simply encourage new plants in the regulatory process, or give them economic advantages as well?
• Does the presidential election matter?

John D. Miller
Managing Director/National Head of Public Power
Citigroup Corporate & Investment Banking

Christopher Fink
Managing Director
Merrill Lynch & Co.

Gary Krellenstein
Managing Director
JPMorgan



5:30 PM - 7:00 PM
Welcoming Cocktail Reception

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7:15 PM
Speaker Dinner

[by invitation only]

Tuesday, June 03, 2008
7:00 AM - 12:00 PM
Registration Open



7:00 AM - 8:00 AM
Continental Breakfast

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8:00 AM - 9:30 AM
Electric Prepays: the Future?

There is $20 billion in energy prepayments in the market today, and a small amount of this is prepaid electricity. Can we harness the grid costs of electrical power? Are there unique challenges with electricity prepayments? Non-polluting, non-fossil fuel sources are practical cost efficient solutions to the energy problems facing us today. Is one of these a viable option for you?

Robert W. Trippe
AMP Ohio

Mark Shea
Principal
Banc of America Securities

David Fife
Senior VP, Energy Finance Group
Seattle-Northwest Securities

William McBride
Partner
Hunton & Williams LLP



9:30 AM - 10:00 AM
Networking Refreshment Break

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10:00 AM - 11:00 AM
What's the latest from the rating agencies?

Are they re-thinking their criteria for prepays or other municipal deals? Have the recent downgrades affected the perception of the deals? Are deals being re-structured as a result of the insurer downgrades? Drilling down and focusing on gas and electric prepayments - what are the pros and cons of the different financing structures = fixed vs. variable? How much gas should be prepaid within electric or gas system's portfolio? Are there any concerns or specific trends that should be addressed? Do these apply to both gas and electric?

Moderator:
John Trahan
Managing Director
Assured Guaranty Corp.

Kenneth Farer
Director
Standard & Poor's

Joann Hempel
Lead Analyst
Moody's Investors Service

Karl Pfeil
Managing Director
FitchRatings



11:00 AM - 12:00 PM
Taking Stock of the "New Generation" of Prepays: Are they Worth it?

The current wave of prepays started after the IRS published new regulations for these deals in 2003 and the Energy Bill in 2005. With three years' experience, how are issuers now evaluating their prepaid deals? Are there important lessons learned? Are there restructurings on the horizon?

Frederic Weber
Partner
Fulbright & Jaworski LLP

Robert Murphy
Executive Director
Municipal Energy Resources Corporation



12:00 PM
Conference Adjourns