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• ~C^O' NNEXUS® <br />~...I ~ ~~ <br />Your Community Energy Partner <br />September 8, 2008 <br />Confirmation of Email Sent on September 8, 2008 <br />Bryan Adams <br />General Manager <br />Elk River Municipal Utilities <br />13069 Orono Parkway <br />Elk River, MN 55330 <br />Subject: All Requirements Contract Termination <br />14601 Ramsey Boulevard <br />Ramsey, Minnesota 55303 <br />763.323.2600 <br />Fax: 763.323.2603 <br />1.800.642.'1672 <br />www.connexusenergy.com <br />info®connexusenergy.com <br />Dear Bryan: <br />This letter is a follow-up to our discussion on September 2, 2008, regarding the 1990 All <br />Requirements Contract between Elk River Municipal Utilities (ERMU) and Anoka Electric <br />Cooperative (now doing business as Connexus Energy). <br />In accordance with Section 6 of that contract, Connexus Energy is giving notice to terminate the <br />contract effective September 30, 2008. The requirement to give 120-month notice will make the <br />actual termination date September 30, 2018. At that time, all services provided under the <br />contract and all amendments to the contract will cease. <br />As we indicated to you, the primary reason for giving notice is that the price to ERMU under the <br />All Requirements Contract does not reflect the value of power in today's market. We are open to <br />renegotiate the contract with revised pricing prior to the termination date. <br />Please contact me if you have any questions or ideas. <br />Sincerely, <br />R <br />rG ~ r ~'~ <br />Michael Rajala <br />President & CEO <br />By certified mail with return receipt <br />ssasioz~z <br />