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SouthStar Energy Services

SouthStar Energy Services. Andrew W. Evans Vice President-Finance and Treasurer. How Did We Get Here?. What A Difference A Year Makes. Increased ownership to 70% (Dynegy buyout) Improved credit quality of customer base Stabilized market share

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SouthStar Energy Services

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  1. SouthStar Energy Services Andrew W. Evans Vice President-Finance and Treasurer

  2. How Did We Get Here? 2003 Analyst/Investor Conference

  3. What A Difference A Year Makes • Increased ownership to 70% (Dynegy buyout) • Improved credit quality of customer base • Stabilized market share • Continue customer service and credit quality improvements • Progress toward resolution of disproportionate sharing issue 2003 Analyst/Investor Conference

  4. SouthStar Has Become A Solid Annuity-Quality Earnings Contributor $45-55 *Denotes earnings for 100% of the partnership. 2003 Analyst/Investor Conference

  5. Largest Retail Marketer in Georgia • SouthStar markets natural gas in Georgia under the trade name Georgia Natural Gas (GNG) • SouthStar consistently has 10% lead over second-largest marketer (538,000 customers) 2003 Analyst/Investor Conference

  6. Stabilized Market Share SouthStar’s market share is fairly constant at around 37% 2003 Analyst/Investor Conference

  7. Retail Pricing in Georgia $/therm 2003 Analyst/Investor Conference

  8. An Average Customer Bill in Georgia *Total Monthly Bill for Typical Customer. 2003 Analyst/Investor Conference

  9. Significantly Reduced Bad Debt Bad Debt as % of Revenue 2003 Analyst/Investor Conference

  10. Focus on Aggressive Collections and Credit Scoring $ millions 2003 Analyst/Investor Conference

  11. Majority of Margin Now Results From Fixed Charges 2003 Analyst/Investor Conference

  12. Recent Marketing Activities 2003 Analyst/Investor Conference

  13. What To Expect in 2004 • Resolve disproportionate sharing issue • Drive lower cost structure and effective hedging programs • Increase share of high-value customers • Higher usage • Higher load factor • Higher credit quality 2003 Analyst/Investor Conference

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