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JR <br /> C a 1 _J /cw 1. 1I `a J ^� J l�ti.� 7. <br /> 23 <br /> Declining regional generation capacity reserves <br /> means : <br /> ■ A tighter regional generation market. <br /> ® Generation owners will pull back low-cost energy resources from <br /> wholesale customers for their own retail customers. <br /> Increasingly, such resources will not be available to municipals <br /> who are not already members of an agency. <br /> ■ Increasing reliance and dependence on higher-cost natural <br /> gas generating resources at the margin . <br /> This is where the next Connexus/GRE offer, <br /> based on incremental resources at the margin , <br /> will likely take ERMU over the long term . <br /> 5 <br />