This report provides a summary of the energy offered and transacted for the Day-ahead Market (DAM) in New York. More than 90% of the energy traded in the NYISO wholesale energy market occurs in the DAM. The remainder is conducted in the real-time market, where adjustments are made for conditions that occur within the day. The report is currently issued Monday through Friday and is intended for use by our Customers and Market Participants. The weather-adjusted forecast of the expected energy load or consumption for the day as determined by the NYISO. The forecast energy consumption as submitted by NYISO Customers. For informational purposes, the percentage difference between the Customer and NYISO load forecasts is provided. The amount of load Customers will procure in the DAM at the location based marginal price (LBMP). Customers may choose to bid more or less than their load forecast with any excess or shortage being settled in the real-time market. All load bids offered within New York are automatically scheduled by NYISO. These transactions are scheduled directly between a generator and a load, that is, bilateral - between two parties. All bilateral bids offered within NY are also automatically scheduled by NYISO. This allows customers to set limits on the amount they are willing to pay for their energy. Customers can also choose to buy more energy if the price is lower. These load bids consist of price capped loads at internal NYCA bus specific locations and at the external proxy buses. The proxy bus loads are also considered exports. This is energy brought into New York from neighboring control areas, which include PJM Interconnection, ISO New England, Hydro Quebec and IMO (Ontario). The amount scheduled is determined by price, thus not all that is bid gets scheduled. Energy flowing out of New York to the neighboring control areas. Again price determines how much energy is actually scheduled for export. This is the sum of energy imports less exports. Wheel throughs have no impact on this calculation as their flow in and out nets to zero. The amount of energy purchased in one control area and delivered to another control area, that is, just wheeling through New York. All generating units in New York must submit bids in order to be considered by NYISO. Units are scheduled based on economics and the need to maintain reliable system operation. This is energy brought into New York from neighboring control areas, which include PJM Interconnection, ISO New England, Hydro Quebec and IMO (Ontario). The amount scheduled is determined by price, thus not all that is bid gets scheduled. The Daily Energy Report also includes a graph of the DAM Marginal Cost of Energy that shows the base price of energy for New York during each hour of the day. This price does not include the marginal cost of electrical losses or congestion that may occur since these quantities are location dependent. The zonal and generator locational-based marginal prices (LBMPs) do include these components and these values may be found on the OASIS section of the web site. The Marginal Cost of Energy by definition is determined at the NYISO reference bus, so named because it is the reference against which losses, congestion, shift factors, penalty factors and other system mathematical quantities are calculated. It is physically located at the Marcy 345 kV substation in Marcy, New York.This is energy brought into New York from neighboring control areas, which include PJM Interconnection, ISO New England, Hydro Quebec and IMO (Ontario). The amount scheduled is determined by price, thus not all that is bid gets scheduled.

	Daily Energy Report - Day Ahead Market (DAM)
	Date:					05/27/2004
																MWh						Percent
		NYISO Load Forecast														421392
		Customer Load Forecast														569890							35.2%
											Offered MWh					Scheduled MWh							Percent
		Load Bids									178038					178038
			Bilateral Bids									204435					204435
		Price Capped Load Bids									222650					49040							22.0%
		Total Load									605123					431513							71.3%
		Total Peak Load									445702					315748							70.8%
		Total Non Peak Load									159421					115765							72.6%
		Generation Bids									711157							389987					54.8%
		Imports									150952					42290							28.0%
		Exports									35233					21747							61.7%
		Net Imports/(Exports)									115719					20543							17.8%
		Wheel Throughs											5800			5800							100.0%