North American Gas and Power Scenarios

CERA Focused Advisory Services

CERA’s North American Gas and Power Scenarios Advisory Service focuses on the future of the North American gas and power industry—understanding how business conditions might change and the appropriate strategic and investment responses. Through this service CERA provides ongoing monitoring and updating of our proprietary long-term scenarios, signposts alerting clients to impending changes in the industry, and assessments of strategic implications for industry segments.

Provides a valuable tool for evaluating company strategies under plausible alternative futures.

Service Benefits

The North American Gas and Power Scenarios Advisory Service helps clients better understand the changing contours of the industry landscape, recognize key risks and opportunities, evaluate alternative responses, and gain the strategic flexibility necessary for future success. The service

• Provides an integrated long-term outlook for natural gas and power markets (e.g., policy parameters and market supply and demand conditions) across regional markets in North America, incorporating key drivers such as developments in world liquefied natural gas markets, emerging environmental policy, and regulatory landscape.

• Builds a strong foundation for testing–“wind tunneling”–your company strategy under plausible alternative futures to reveal its strengths and weaknesses, depending on the actual outcomes of uncertain developments.

• Challenges the predominant conventional wisdom and fosters provocative thinking, to better equip organizations to deal with uncertainty and change.

• Informed by a diverse forum membership, including the unique perspectives of oil and gas producers, electric and gas utilities, independent generators, coal companies, equipment manufacturers, engineering and construction companies, pipeline companies, energy marketers, and financial institutions.

• Attendance at CERA’s Executive Roundtables, held semiannually, and the CERAWEEK Executive Conference, held each February in Houston

Service Enhancements

Service Components

• Access via CERA.com to CERA’s long-term gas and power scenarios for North America, including summary of critical findings, scenario storylines and timelines, analysis of the strategic implications for selected industry segments, and detailed regional projections of the supply, demand, and price for the key wholesale gas and power markets in North America

CERA’s North American Gas and Power Scenarios Advisory Service members benefit from

The service created four new scenarios for 2006. The time horizon for the scenarios was extended 10 years to 2030, and the insights from the CERA Multiclient Study Dawn of a New Age: Global Energy Scenarios for Strategic Decision Making—The Energy Future to 2030 have been incorporated into the new scenarios:

Current North American Gas and Power Scenarios

• Semiannual (spring and fall) member meetings to present, analyze, and discuss scenario signposts and to participate in the planning of scenario updates

• Annual update of quantitative results across all scenarios, including detailed gas and power projections, delivered each November on CERA.com

• Asian Phoenix. What is in store for North American gas and power markets if current trends continue?

• Global Fissures. What would be the impact of slow economic growth and a heightened focus on domestic energy security impact North American gas and power markets?

• Mercury Rising. What are the implications of rising temperatures for the North American power and gas industries?

• Resource Inadequacy. What happens if implementation of resource adequacy mechanisms are delayed in key regional markets in the next decade?

• Customized consulting on specific projects

• Interactive services such as on-site workshops, conference call briefings, and telephone access to CERA experts

© 2007 CERA, Inc. All Rights Reserved. No portion of this prospectus may be reproduced in any form without prior written consent.

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About CERA

Cambridge Energy Research Associates, Inc. (CERA), an IHS company, is a leading advisor to international energy companies, governments, financial institutions, and technology providers. CERA delivers critical knowledge and independent analysis on energy markets, geopolitics, industry trends, and strategy. Our services help decision makers anticipate the energy future and formulate timely, successful plans in the face of rapid changes and uncertainty.

For additional information regarding

CERA’s North American Gas and Power Scenarios Advisory Service, please contact

Michael Banville mbanville@cera.com • +1 617 866 5352

www.cera.com

CERA Focused Advisory Services > North American Gas and Power Scenarios Advisory Service