CA-NP-287 Requests for Information NP 2008 GRA

Newfoundland Power Inc. – 2008 General Rate Application Page 1 of 2

Volume 3, Section 1 – McShane, Cost of Capital 1 2 Q. (Appendix E, pages 1-2) 3

4 a. Please provide the names of all 473 TSX firms that had GICS codes in sectors 5

20-30. 6 7 b. Please provide the names of the 385 (473-88) firms that were eliminated from the 8

low-risk industrial sample by virtue of (i) missing book equity, (ii) negative book 9 equity, and/or (iii) 2005 equity below $50 million, and the reason for each firm’s 10 elimination. 11

12 c. Please provide the names of the 33 (88-55) firms that were eliminated from the 13

sample by virtue of not paying a dividend in any year over the 2000-2006 period. 14 15 d. Please provide the names of those 4 (55-51) companies that traded fewer than 16

125,000 shares in 2005 and/or had fewer than 5 years of market data available. 17 18 e. Please provide the names of those 13 (51-38) firms with 5-year betas ending 19

September 2006 in excess of 1.0, along with the calculated “raw” beta values that 20 disqualified them. 21

22 f. Please provide the names of the 6 (38-32) firms disqualified because of 23

abnormally high or low 1995-2005 book equity returns, along with the average 24 ROE for each firm and the sample mean ROE against which their abnormal 25 returns were gauged. 26

27 g. Please provide the names of the 15 (32-17) firms that were eliminated at the final 28

sample-selection cut along with the reason or reasons each was eliminated from 29 the final sample. 30

31 h. Would any of the firms eliminated by virtue of having abnormally-low 1995-32

2005 average book equity returns have been eliminated by the application of the 33 final-cut criteria - i.e., CBS rating, non-investment grade debt, and/or no rating 34 agency report? If so, which firms would have been cut and for failing which of 35 the criteria? 36

37 A. (a) Name of TSX Firms, GICS Codes in Sectors 20-30 is Attachment A. 38

See e-file CA-NP 287, Attachment A.pdf. 39 40 (b) Companies Failing the Equity Screen is Attachment B. 41 See e-file CA-NP 287, Attachment B.pdf. 42 43 (c) Removed for Dividend Issues is Attachment C. 44 See e-file CA-NP 287, Attachment C.pdf. 45

CA-NP-287 Requests for Information NP 2008 GRA

Newfoundland Power Inc. – 2008 General Rate Application Page 2 of 2

(d) Out on Low Trading Volume and Out for Lack of Market Data is Attachment D. 1 See e-file CA-NP 287, Attachment D.pdf. 2 3 (e) Out on Beta and Out Prior to Beta is Attachment E. 4 See e-file CA-NP 287, Attachment E.pdf. 5 6 (f) Out on ROE Screen is Attachment F. 7 See e-file CA-NP 287, Attachment F.pdf. 8 9 (g) Out on Ratings is Attachment G. 10 See e-file CA-NP 287, Attachment G.pdf. 11 12

(h) The two companies eliminated due to abnormally low 1995-2005 average book 13 equity returns were Agricore United and Clublink Corp. Both of these companies 14 would have been eliminated also by the final-cut criteria. Agricore was rated non-15 investment grade by both DBRS and Standard and Poor’s, and Clublink did not 16 have a rating from any of the agencies. 17

CA-NP-287 Attachment A

Requests for Information NP 2008 GRA

Newfoundland Power - 2008 General Rate Application

Name of TSX Firms GICS Codes in Sectors 20-30

Company Name GICS Economic Sector180 CONNECT INC 25A&W REVENUE ROYALTIES INC FD 25AADCO AUTOMOTIVE INC 25ABBEY WOODS DEVS LTD 25ACE AVIATION HOLDINGS INC 20ACS MEDIA INCOME FUND 25ADS INC -CL A 25ADVANCED FIBER TECH AFT INC 20ADVANTEX MARKETING INTL INC 25AECON GROUP INC 20AEROPLAN INCOME FUND 25AFTON FOOD GROUP LTD 25AG GROWTH INCOME FUND 20AGRA INDUSTRIES LTD 20AGRICORE UNITED 30AIRBOSS OF AMERICA CORP 25ALARMFORCE INDUSTRIES INC 25ALDERWOODS GROUP INC 25ALEXCO RESOURCE CORP 20ALGO GROUP INC -CL A 25ALGOMA CENTRAL CORP 20ALIMENTN COUCHE-TARD -CL B 30ALLIANCE ATLANTIS COMM -CL B 25ALLIED HOTEL PPTYS INC 25ALTA GENETICS INC 30ALTERNATIVE FUEL SYS 2004 25AMISCO INDUSTRIES LTD 25ANDREW PELLER LTD 30AQUA-PURE VENTURES INC 20ARBOR MEMORIAL SERVICES-CL B 25ARCTIC GLACIER INCOME FUND 30ARDEN HOLDINGS INC 25ARMTEC INFRASTRUCTRE INCM FD 20ART IN MOTION INCOME FUND 25ASIA MEDIA GROUP CORP 25ASSOCIATED BRANDS INCOME FD 30ASTRAL MEDIA INC -CL A 25ATLANTIS SYSTEMS CORP 20ATLAS COLD STORAGE INCOME TR 20ATS ANDLAUER INCOME FUND 20ATS AUTOMATION TOOLING SYS 20AUTOCANADA INCOME FUND 25AUTOMODULAR CORP 25AVCORP INDUSTRIES INC 20AVVA TECHNOLOGIES INC 20AZURE DYNAMICS CORP 25

BADGER INCOME FUND 20BALLARD POWER SYSTEMS INC 25BATTERY TECHNOLOGIES INC 20BEAMSCOPE CANADA INC 25BENNETT ENVIRONMENTAL INC 20BESTAR INC 25BFI CANADA INCOME FUND 20BIG ROCK BREWERY INCOME TR 30BIRD CONSTRUCTION INCOME FD 20BMTC GROUP INC -CL A 25BOMBARDIER INC -CL B 20BOSTON PIZZA ROYALTIES INCM 25BOYD GROUP INCOME FUND 20BRANDSELITE INTL CORP 25BRICK BREWING CO LTD 30BRICK GROUP INCOME FUND 25BRIDGES TRANSITIONS INC 25BROMLEY MARR ECOS INC 20BUHLER INDUSTRIES INC 20BW TECHNOLOGIES LTD 20CABLE SATISFACTION INTL INC 25CAE INC 20CALDWELL PTNRS INTL -CL A 20CAMCO INC 25CANADA 3000 INC 20CANADA BREAD CO LTD 30CANADA CARTAGE DIV INCOME FD 20CANADEX RESOURCES LTD 20CANADIAN AGRA FOODS INC 30CANADIAN AIRLINES CORP 20CANADIAN BANK NOTE CO LTD 20CANADIAN CRUDE SEPARATORS 20CANADIAN HELICOPTERS INCM FD 20CANADIAN NATIONAL RAILWAY CO 20CANADIAN PACIFIC RAILWAY LTD 20CANADIAN SATELLITE COMMUN 25CANADIAN SATELLITE RADIO HLD 25CANADIAN TIRE CORP -CL A 25CANADREAM CORP 20CANBRAS COMMUNICATIONS CORP 25CANLAN ICE SPORTS CORP 25CANWEST GLOBAL COM -NVTG 25CANWEST MEDIAWORKS INC 25CANWEST MEDIAWORKS INCOME FD 25CARA OPERATIONS LTD -CL A 25CARMANAH TECHNOLOGIES CORP 20CASSIDYS LTD 25CD PLUS.COM LTD 25CDI EDUCATION CORP 20CENTURY II HOLDINGS INC 20CERAMIC PROTECTION CORP 20

CFM CORP 25CHAI NA TA CORP 30CHAPTERS ONLINE INC 25CHESSWOOD INCOME FUND 25CHUM LTD -CL B 25CHURCHILL CORP 20CINEPLEX GALAXY INCOME FUND 25CINRAM INTL INCOME FUND 25CIRCA ENTERPRISES INC 20CLARKE INC 20CLEARLY CDN BEVERAGE CP 30CLEARWATER SEAFOODS INCM FD 30CLUBLINK CORP 25COAST WHSL APPLIANCES INCM 25COASTAL CONTACTS INC 25COGECO CABLE INC 25COGECO INC -SUB VTG 25COMMAND POST & TRANSFER CORP 25COMMERCIAL SOLUTIONS INC 20CONCERT INDUSTRIES LTD 30CONNORS BROS INCOME FUND 30CONSOLIDATED MERCANTILE INC 20CONSUMERS WATERHEATER INCOME 25CONTINENTAL HOME HLTHCR LTD 25CONTRANS CORP -CL A 20CONTRANS INCOME FUND 20COOLBRANDS INTERNATIONAL INC 30CORBY (H.) DISTILLERY -CL A 30CORUS ENTERTAINMENT INC 25COSSETTE COMMUNICATIONS GRP 25COTT CORP QUE 30CPI PLASTICS GROUP LTD 20CRAIG MUSIC & ENTERTAINMENT 25CRS ROBOTICS CORP 20CTV INC 25DANIER LEATHER INC 25DATAMARK SYSTEMS GROUP INC 20DECTRON INTERNATIONALE INC 20DENNINGHOUSE INC 25DEVINE ENTERTAINMENT CORP 25DHX MEDIA LTD 25DIAMANT ART CORP 20DION ENTERTAINMENT CORP 25DIRECTCASH INCOME FUND 20DISCOVERY AIR INC 20DOMCO TARKETT INC 20DOMINION CITRUS INCOME FUND 30DOREL INDUSTRIES INC 25DOVER INDUSTRIES LTD 30DRIVE PRODUCTS INCOME FD 20DYLEX LTD 25

DYNAMOTIVE ENERGY SYS CORP 20DYNETEK INDUSTRIES LTD 25EAGLE PRECISION TECH INC 20EASYHOME LTD 25EG CAPITAL INC 20EIGER TECHNOLOGY INC 25ELECTROHOME LTD -CL Y 25ELECTROVAYA INC 20ELEPHANT & CASTLE GROUP INC 25EMPIRE CO LTD -CL A 30ENTERTAINMENT ONE INCOME FUN 25ENVIRONMENTAL MGMT SOLUTIONS 20ENVOY COMMUNICATIONS GRP INC 25EXCO TECHNOLOGIES LTD 20FANTOM TECHNOLOGIES INC 25FINNING INTERNATIONAL INC 20FIRSTSERVICE CORP -SVTG 20FLINT ENERGY SERVICES LTD 20FOREMOST INCOME FUND 20FORZANI GROUP LTD -CL A 25FOUR SEASONS HOTELS -LTD VTG 25FP NEWSPAPERS INCOME FUND 25FPI LTD 30FRESHXTEND TECHNOLOGIES CORP 30FUEL CELL TECHNOLOGIES LTD 20FUTURE SHOP LTD 25GAMEHOST INCOME FUND 25GARDA WORLD SECURITY CORP 20GATEWAY CASINOS INCOME FUND 25GENERAL DONLEE INCOME FUND 20GENIVAR INCOME FUND 20GESCO INDUSTRIES INC 25GIENOW WINDOWS & DOORS INCM 20GILDAN ACTIVEWEAR INC 25GLACIER VENTURES INTL CORP 25GLENDALE INTERNATIONAL CORP 25GLENTEL INC 25GLOBAL RAILWAY INDS LTD 20GLOBAL THERMOELECTRIC INC 20GOLDFARB CORP -CL A 20GOLF TOWN INCOME FUND 25GOODFELLOW INC 25GREAT CANADIAN GAMING CORP 25GREYVEST CAPITAL INC 20GRILLI PROPERTY GROUP INC 25GROUPE BIKINI VILLAGE INC 25GROUPE BOCENOR INC 20GROUPE LAPERRIERE&VER -CL A 20GSW INC -CL B 25HALEY INDUSTRIES LTD 20HALLMARK TECHNOLOGIES INC 20

HALTERM INCOME FUND 20HAMMOND MFG LTD -CL A 20HAMMOND POWER SOLUTIONS INC 20HARDWOODS DISTR INCOME FD 20HART STORES INC 25HARTCO INCOME FUND 25HARTLAND PIPELINE SVCS LTD 20HAWKER SIDDELEY CANADA 20HEROUX-DEVTEK INC 20HIGH LINER FOODS INC 30HIP INTERACTIVE CORP 25HOCKEY CO HOLDINGS INC 25HOLLINGER CDN NEWSPAPERS LTD 25HOT HOUSE GROWERS INCOME FD 30HUDSON'S BAY CO 25HUMPTY DUMPTY SNACK FOODS 30HUSKY INJECTION MOLDING SYS 20HY & ZEL'S INC 30HYATT FINANCIAL LTD 20HYDROGENICS CORP 20IMAX CORP 25IMPERIAL GINSENG PRODS LTD 30INDIGO BOOKS & MUSIC INC 25INSCAPE CORP 20INTERGOLD LTD 25INTERNATIONAL AQUA FOODS LTD 30INTERNATIONAL BARRIER TECH I 20INTERNATIONAL UNP HLDGS LTD 20INTL HI-TECH INDUSTRIES INC 20INTRAWEST CORP 25INVENTRONICS LTD 20INVESPRINT CORP 20IRWIN TOY LTD -NVTG 25ITI EDUCATION CORP 20JAZZ AIR INCOME FUND 20JEAN COUTU GROUP 30JEWETT-CAMERON TRADING CO 20JONES SODA CO 30JUMPTV INC 25KANGAROO MEDIA INC 25KCP INCOME FUND 30KEC ENVIRONMENTAL CORP 20KEG ROYALTIES INCOME FUND 25KEYSTONE NORTH AMERICA INC 25KHD HUMBOLDT WEDAG INTL LTD 20LA SENZA CORP 25LAIDLAW INTERNATIONAL INC 20LASSONDE INDS INC -CL A 30LE CHATEAU -CL A 25LEADING BRANDS INC 30LEON'S FURNITURE LTD 25

LEROUX STEEL (ACIER) -CL B 20LINAMAR CORP 25LIONS GATE ENTERTAINMENT CP 25LIQUIDATION WORLD INC 25LIQUOR BARN INCOME FUND 30LIQUOR STORES INCOME FUND 30LIVINGSTON INTL INCOME FUND 20LOBLAW COMPANIES LTD 30LOGISTEC CORP -CL A 20LUXOR INDUSTRIAL CORP 20MAAX INC 20MACYRO GROUP INC 20MAD CATZ INTERACTIVE INC 25MADACY ENTERTAINMENT INCM FD 25MAGELLAN AEROSPACE CORP 20MAGNA ENTERTAINMENT CORP 25MAGNA INTERNATIONAL -CL A 25MAGNOTTA WINERY CORP 30MAINFRAME ENTERTAINMENT INC 25MAPLE LEAF FOODS INC 30MARKS WORK WEARHOUSE LTD 25MARSULEX INC 20MARTINREA INTL INC 20MAXXCOM INC 25MCGRAW-HILL RYERSON LTD 25MDC PARTNERS INC 25MEC HOLDINGS CDA INC 25MEGA BRANDS INC 25MENU FOODS INCOME FUND 30METRO INC -CL A 30MICROTEC ENTERPRISES INC 20MIKES RESTAURANTS INC 25MITCHELL (ROBERT) -CL B 20MOBILE CLIMATE CONTROL INDS 25MOFFAT COMMUNICATIONS 25MOLSON COORS CDA INC 30MOLSON COORS CDA-PRO FORMA 30MOLSON INC -CL A 30MONARCH DEVELOPMENT CORP 25MORNEAU SOBECO INCOME FUND 20MOSAIC GROUP INC 25MOVIE DISTRIBUTION INCOME FD 25MPL COMMUNICATIONS INC 25MRRM INC 30NATIONAL CHALLENGE SYS INC 20NEPTUNE TECH & BIORESSOURCES 30NEW FLYER INDUSTRIES INC 20NEWALTA INCOME FUND 20NEWFOUNDLAND CAP CORP -CL A 25NEXIENT LEARNING INC 20NEXUS GROUP INTL INC 25

NOBLE CHINA INC 30NORTH WEST CO FUND 25NORTHCORE TECHNOLOGIES INC 25NORTHSTAR AEROSPACE INC 20NORTHWEST SPORTS ENTERPRISES 25NORWALL GROUP INC 25OCEANEX INCOME FUND 20OFI INCOME FUND 20OPTIPRESS INC 20ORBUS PHARMA INC 20OSI GEOSPATIAL INC 20OSPREY MEDIA INCOME FUND 25PACIFIC INSIGHT ELECTRONICS 25PAULIN H & CO LTD 20PBB GLOBAL LOGISTICS INCOME 20PDM ROYALTIES INCOME FUND 25PEACE ARCH ENTMT GROUP INC 25PERKINS PAPERS LTD 30PERSONA INC 25PET VALU CANADA INC 25PFB CORP 20PIH PAC INTL HARDWOODS INC 25PIZZA PIZZA ROYALTY INCM FD 25PLM GROUP LTD 20POLLARD BANKNOTE INCOME FUND 25POWER PLUS CORP 25PRADA HOLDINGS LTD 20PRECISION ASSESSMENT TECH CP 20PREMIUM BRANDS INCOME FUND 30PRIMA DEVELOPMENTS LTD 20PRIME RESTAURANTS ROYL INCM 25PRIMETECH ELECTRONICS INC 20PRINTERA CORP 20PRISZM CANADIAN INCOME FUND 25PRIVA INC 25Q/MEDIA SERVICES CORP 20QSOUND LABS INC 25QUEBECOR INC -CL B 25QUEBECOR WORLD INC -SUB VTG 20RAILPOWER TECHNOLOGIES CORP 20RAINMAKER INCOME FUND 25REITMANS (CANADA) -CL A 25REKO INTERNATIONAL GROUP INC 20RICH MINERALS CORP 20RICHELIEU HARDWARE LTD 20RICHTREE INC 25RIDLEY INC 30RITCHIE BROS AUCTIONEERS INC 20RIVAL TECHNOLOGIES INC 25ROGERS SUGAR INCOME FUND 30RONA INC 25

ROSEDALE DECORATIVE PROD LTD 25ROTHMANS INC 30ROYAL AVIATION INC 20ROYAL GROUP TECHNOLOGIES LTD 20ROYAL LASER CORP 20RUSSEL METALS INC 20RYSTAR COMMUNICATIONS LTD 25SACO SMARTVISION INC 25SALTER STREET FILMS LTD 25SAPUTO INC 30SASKATCHEWAN WHEAT POOL INC 30SCAFFOLD CONNECTION CORP 20SCHNEIDER CORP -CL A 30SCI INCOME TRUST 25SCORE MEDIA INC 25SCOTTS RESTAURANTS 25SEARS CANADA INC 25SECOND CUP LTD 25SECOND CUP ROYALTY INCOME FD 25SENVEST CAPITAL INC 20SEPP'S GOURMET FOODS LTD 30SEVENWAY CAPITAL CORP 30SHAW COMMUNICATIONS INC-CL B 25SHEP TECHNOLOGIES INC 25SHERMAG INC 25SHIRMAX FASHIONS LTD 25SHOPPERS DRUG MART CORP 30SINTRA LTD 20SIR ROYALTY INCOME FUND 25SKYJACK INC 20SLEEMAN BREWERIES LTD 30SLEEP COUNTRY CDA INCOME FD 25SMK SPEEDY INTERNATIONAL INC 20SNC-LAVALIN GROUP INC 20SOBEYS INC 30SODISCO-HOWDEN GROUP INC 25SONG CORP 25SPAR AEROSPACE LTD 20SPECIALTY FOODS GRP INCM FD 30SPECTRA GROUP GREAT RESTS 25SPECTRA PREMIUM INDS INC 25SPORTSCENE GROUP INC 25STACKPOLE LTD 25STANTEC INC 20STEEPLEJACK INDL GROUP INC 20STEPHENSONS RENTAL SVC IN FD 20STRATEGIC VALUE CORP 25STRONGCO INCOME FUND 25STUDENT TRANSPORT OF AMERICA 20SUN ENTERTAINMENT HOLDING CP 25SUN GRO HORTICULTURE INCM FD 30

SUNOPTA INC 30SUN-RYPE PRODUCTS LTD 30SUPERIOR PLUS INCOME FUND 20SWISS WTR DECAFFEINATED COFF 30SYNERGEX CORP 20SYNEX INTERNATIONAL INC 20T EATON CO LTD 25T S C SHANNOCK CORP -CL A 25TAIGA BUILDING PRODUCTS LTD 20TANBRIDGE CORP 25TECSYN INTERNATIONAL INC 25TEKNION CORP 20TELESCENE FILM GROUP -CL B 25THOMSON CORP 25THRILLTIME ENTMT INTL INC 20THUNDERBIRD RESORTS INC 25THYSSENKRUPP BUDD CDA INC 25TIM HORTONS INC 25TIR SYSTEMS LTD 20TOROMONT INDUSTRIES LTD 20TORSTAR CORP -CL B 25TRAILMOBILE CDA LTD 25TRANSAT A T INC 20TRANSCONTINENTAL INC -CL A 20TRANSFORCE INC 20TRANSFORCE INCOME FUND 20TRAVELBYUS.COM LTD 25TREE ISLAND WIRE INCOME FUND 20TRIMAC INCOME FUND 20TRIMIN CAPITAL CORP 20TRITECH PRECISION INC 25TRI-WHITE CORP 20TROJAN TECHNOLOGIES INC 20TURBO POWER SYSTEMS INC 20TVA GROUP INC -CL B 25UE WATERHEATER INCOME FUND 25UNIBROUE INC 30UNICAN SECURITY SYSTEMS-CL B 20UNI-SELECT INC 25URANIUM PARTICIPATION CORP 20VAN HOUTTE INC 30VECTOR AEROSPACE CORP 20VELAN INC -SVTG 20VENTRA GROUP INC 25VERSACOLD INCOME FUND 20VHQ ENTERTAINMENT INC 25VICEROY HOMES LTD 25VIDEOTRN (LE GRPE) LTD 25VINCOR INTL INC 30VITRAN CORP INC 20VOXCOM INC 20

WAJAX INCOME FUND 20WESCAM INC 20WESCAST INDUSTRIES -CL A 25WEST 49 INC 25WESTBURNE INC 20WESTJET AIRLINES LTD 20WESTON (GEORGE) LTD 30WESTPORT INNOVATIONS INC 25WESTSHORE TERMS INCOME FD 20WFI INDUSTRIES LTD 20WHITE ROSE CRFTS&NRSY 25WIC WESTERN INTL COMM -CL B 25WITTKE INC 25WORLDPLUS VENTURES LTD 25XANTREX TECHNOLOGY INC 20YBM MAGNEX INTERNATIONAL INC 20YELLOW PAGES INCOME FUND 25ZENON ENVIRONMENTAL INC 20ZTEST ELECTRONICS INC 20

CA-NP-287 Attachment B

Requests for Information NP 2008 GRA

Newfoundland Power - 2008 General Rate Application

Companies Failing the Equity Screen

A "1" = passA "0" = fail

Companies Failing the Equity Screen

Remove if negative in

1994 to 2005

CEQ reported in 12 Years

2005 CEQ > $50

Passes Equity Screen

180 CONNECT INC 1 0 0 0A&W REVENUE ROYALTIES INC FD 1 0 1 0AADCO AUTOMOTIVE INC 0 0 0 0ABBEY WOODS DEVS LTD 1 0 1 0ACE AVIATION HOLDINGS INC 0 1 1 0ACS MEDIA INCOME FUND 1 0 1 0ADS INC -CL A 1 1 0 0ADVANCED FIBER TECH AFT INC 1 0 0 0ADVANTEX MARKETING INTL INC 1 0 0 0AECON GROUP INC 0 1 1 0AEROPLAN INCOME FUND 0 0 0 0AFTON FOOD GROUP LTD 0 0 1 0AG GROWTH INCOME FUND 1 0 1 0AGRA INDUSTRIES LTD 1 0 1 0AIRBOSS OF AMERICA CORP 1 0 1 0ALARMFORCE INDUSTRIES INC 1 0 0 0ALEXCO RESOURCE CORP 1 0 0 0ALGO GROUP INC -CL A 0 1 0 0ALLIED HOTEL PPTYS INC 0 0 0 0ALTA GENETICS INC 1 0 1 0ALTERNATIVE FUEL SYS 2004 1 0 0 0AMISCO INDUSTRIES LTD 1 0 0 0AQUA-PURE VENTURES INC 1 0 0 0ARCTIC GLACIER INCOME FUND 1 0 1 0ARDEN HOLDINGS INC 1 0 1 0ARMTEC INFRASTRUCTRE INCM FD 1 0 1 0ART IN MOTION INCOME FUND 1 0 0 0ASIA MEDIA GROUP CORP 0 0 1 0ASSOCIATED BRANDS INCOME FD 1 0 0 0ATLANTIS SYSTEMS CORP 0 1 0 0ATLAS COLD STORAGE INCOME TR 1 0 1 0ATS ANDLAUER INCOME FUND 1 0 1 0AUTOCANADA INCOME FUND 1 0 1 0AUTOMODULAR CORP 1 1 0 0AVCORP INDUSTRIES INC 1 1 0 0AVVA TECHNOLOGIES INC 1 0 1 0AZURE DYNAMICS CORP 1 0 0 0BADGER INCOME FUND 1 0 1 0BATTERY TECHNOLOGIES INC 0 0 1 0BEAMSCOPE CANADA INC 1 0 1 0BENNETT ENVIRONMENTAL INC 1 0 1 0BESTAR INC 0 1 0 0BFI CANADA INCOME FUND 1 0 1 0BIG ROCK BREWERY INCOME TR 1 1 0 0BIRD CONSTRUCTION INCOME FD 1 0 0 0

BMTC GROUP INC -CL A 1 0 1 0BOSTON PIZZA ROYALTIES INCM 1 0 1 0BOYD GROUP INCOME FUND 1 0 0 0BRANDSELITE INTL CORP 0 0 1 0BRICK BREWING CO LTD 1 0 0 0BRICK GROUP INCOME FUND 1 0 1 0BRIDGES TRANSITIONS INC 0 0 0 0BROMLEY MARR ECOS INC 1 0 1 0BUHLER INDUSTRIES INC 1 0 1 0BW TECHNOLOGIES LTD 1 0 1 0CABLE SATISFACTION INTL INC 1 0 1 0CALDWELL PTNRS INTL -CL A 1 0 0 0CAMCO INC 0 0 1 0CANADA 3000 INC 1 0 1 0CANADA CARTAGE DIV INCOME FD 1 0 1 0CANADEX RESOURCES LTD 1 0 0 0CANADIAN AGRA FOODS INC 1 0 1 0CANADIAN AIRLINES CORP 0 0 1 0CANADIAN BANK NOTE CO LTD 1 0 1 0CANADIAN CRUDE SEPARATORS 1 0 1 0CANADIAN HELICOPTERS INCM FD 1 0 1 0CANADIAN SATELLITE COMMUN 1 0 1 0CANADIAN SATELLITE RADIO HLD 0 0 0 0CANADREAM CORP 1 0 0 0CANBRAS COMMUNICATIONS CORP 1 0 0 0CANLAN ICE SPORTS CORP 1 0 0 0CANWEST MEDIAWORKS INC 1 0 1 0CANWEST MEDIAWORKS INCOME FD 1 0 1 0CARA OPERATIONS LTD -CL A 1 0 1 0CARMANAH TECHNOLOGIES CORP 1 0 0 0CASSIDYS LTD 1 0 1 0CD PLUS.COM LTD 1 0 1 0CDI EDUCATION CORP 0 0 1 0CENTURY II HOLDINGS INC 1 1 0 0CERAMIC PROTECTION CORP 1 0 1 0CFM CORP 1 0 1 0CHAI NA TA CORP 1 1 0 0CHAPTERS ONLINE INC 1 0 1 0CHESSWOOD INCOME FUND 1 0 1 0CHURCHILL CORP 1 0 0 0CINEPLEX GALAXY INCOME FUND 1 0 1 0CIRCA ENTERPRISES INC 1 0 0 0CLARKE INC 1 0 1 0CLEARLY CDN BEVERAGE CP 0 1 0 0CLEARWATER SEAFOODS INCM FD 1 0 1 0COAST WHSL APPLIANCES INCM 1 0 1 0COASTAL CONTACTS INC 1 0 0 0COMMAND POST & TRANSFER CORP 1 0 1 0COMMERCIAL SOLUTIONS INC 1 0 0 0CONCERT INDUSTRIES LTD 0 0 1 0CONNORS BROS INCOME FUND 1 0 1 0CONSOLIDATED MERCANTILE INC 1 1 0 0

CONSUMERS WATERHEATER INCOME 1 0 1 0CONTINENTAL HOME HLTHCR LTD 0 0 1 0CONTRANS CORP -CL A 1 0 1 0CONTRANS INCOME FUND 1 0 1 0COOLBRANDS INTERNATIONAL INC 1 0 1 0CORUS ENTERTAINMENT INC 1 0 1 0COSSETTE COMMUNICATIONS GRP 1 0 1 0CPI PLASTICS GROUP LTD 1 0 0 0CRAIG MUSIC & ENTERTAINMENT 1 0 1 0CRS ROBOTICS CORP 1 0 1 0CTV INC 1 0 1 0DANIER LEATHER INC 1 0 1 0DATAMARK SYSTEMS GROUP INC 1 0 0 0DECTRON INTERNATIONALE INC 1 0 0 0DENNINGHOUSE INC 1 0 1 0DEVINE ENTERTAINMENT CORP 0 0 0 0DHX MEDIA LTD 1 0 0 0DIAMANT ART CORP 0 1 0 0DION ENTERTAINMENT CORP 0 0 1 0DIRECTCASH INCOME FUND 1 0 1 0DISCOVERY AIR INC 1 0 0 0DOMCO TARKETT INC 1 0 1 0DOMINION CITRUS INCOME FUND 1 0 0 0DRIVE PRODUCTS INCOME FD 1 0 1 0DYLEX LTD 1 0 1 0DYNAMOTIVE ENERGY SYS CORP 0 0 0 0DYNETEK INDUSTRIES LTD 1 0 0 0EAGLE PRECISION TECH INC 0 0 1 0EASYHOME LTD 1 0 1 0EG CAPITAL INC 0 0 0 0EIGER TECHNOLOGY INC 0 0 0 0ELECTROHOME LTD -CL Y 1 1 0 0ELECTROVAYA INC 1 0 0 0ELEPHANT & CASTLE GROUP INC 0 1 0 0ENTERTAINMENT ONE INCOME FUN 1 0 1 0ENVIRONMENTAL MGMT SOLUTIONS 1 0 0 0ENVOY COMMUNICATIONS GRP INC 1 0 1 0FANTOM TECHNOLOGIES INC 1 0 1 0FLINT ENERGY SERVICES LTD 1 0 1 0FP NEWSPAPERS INCOME FUND 1 0 1 0FRESHXTEND TECHNOLOGIES CORP 0 1 0 0FUEL CELL TECHNOLOGIES LTD 1 0 1 0FUTURE SHOP LTD 1 0 1 0GAMEHOST INCOME FUND 1 0 0 0GARDA WORLD SECURITY CORP 1 0 0 0GATEWAY CASINOS INCOME FUND 1 0 0 0GENERAL DONLEE INCOME FUND 1 0 0 0GENIVAR INCOME FUND 1 0 1 0GESCO INDUSTRIES INC 1 0 1 0GIENOW WINDOWS & DOORS INCM 1 0 1 0GILDAN ACTIVEWEAR INC 1 0 1 0GLACIER VENTURES INTL CORP 1 0 1 0

GLENDALE INTERNATIONAL CORP 1 1 0 0GLENTEL INC 1 1 0 0GLOBAL RAILWAY INDS LTD 1 0 0 0GLOBAL THERMOELECTRIC INC 1 0 1 0GOLDFARB CORP -CL A 1 1 0 0GOLF TOWN INCOME FUND 1 0 1 0GREAT CANADIAN GAMING CORP 1 0 1 0GREYVEST CAPITAL INC 1 0 1 0GRILLI PROPERTY GROUP INC 0 0 1 0GROUPE BIKINI VILLAGE INC 0 0 0 0GROUPE BOCENOR INC 0 0 0 0HALEY INDUSTRIES LTD 1 0 1 0HALLMARK TECHNOLOGIES INC 1 0 1 0HALTERM INCOME FUND 1 0 0 0HAMMOND MFG LTD -CL A 1 1 0 0HAMMOND POWER SOLUTIONS INC 1 0 0 0HARDWOODS DISTR INCOME FD 1 0 1 0HART STORES INC 1 1 0 0HARTCO INCOME FUND 1 0 1 0HARTLAND PIPELINE SVCS LTD 1 0 1 0HAWKER SIDDELEY CANADA 1 0 1 0HIGH LINER FOODS INC 0 1 0 0HIP INTERACTIVE CORP 1 0 1 0HOCKEY CO HOLDINGS INC 1 0 1 0HOLLINGER CDN NEWSPAPERS LTD 1 0 1 0HOT HOUSE GROWERS INCOME FD 1 0 0 0HUMPTY DUMPTY SNACK FOODS 0 0 0 0HUSKY INJECTION MOLDING SYS 1 0 1 0HY & ZEL'S INC 1 0 1 0HYATT FINANCIAL LTD 0 0 1 0HYDROGENICS CORP 1 0 1 0IMAX CORP 0 1 0 0IMPERIAL GINSENG PRODS LTD 0 1 0 0INDIGO BOOKS & MUSIC INC 1 0 1 0INSCAPE CORP 1 0 1 0INTERGOLD LTD 0 1 0 0INTERNATIONAL AQUA FOODS LTD 1 0 1 0INTERNATIONAL BARRIER TECH I 0 0 0 0INTERNATIONAL UNP HLDGS LTD 1 0 1 0INTL HI-TECH INDUSTRIES INC 1 0 0 0INVENTRONICS LTD 1 0 0 0INVESPRINT CORP 1 0 1 0IRWIN TOY LTD -NVTG 1 0 1 0ITI EDUCATION CORP 1 0 1 0JAZZ AIR INCOME FUND 0 0 1 0JEWETT-CAMERON TRADING CO 1 0 0 0JONES SODA CO 1 0 0 0JUMPTV INC 1 0 0 0KANGAROO MEDIA INC 1 0 0 0KCP INCOME FUND 1 0 1 0KEC ENVIRONMENTAL CORP 1 0 1 0KEG ROYALTIES INCOME FUND 0 0 1 0

KEYSTONE NORTH AMERICA INC 1 0 1 0LAIDLAW INTERNATIONAL INC 0 1 1 0LEADING BRANDS INC 1 1 0 0LEROUX STEEL (ACIER) -CL B 1 0 1 0LIONS GATE ENTERTAINMENT CP 1 0 1 0LIQUOR BARN INCOME FUND 1 0 1 0LIQUOR STORES INCOME FUND 1 0 1 0LIVINGSTON INTL INCOME FUND 1 0 1 0LUXOR INDUSTRIAL CORP 0 0 0 0MAAX INC 1 0 1 0MACYRO GROUP INC 1 0 0 0MAD CATZ INTERACTIVE INC 1 0 0 0MADACY ENTERTAINMENT INCM FD 1 0 1 0MAGELLAN AEROSPACE CORP 0 1 1 0MAGNA ENTERTAINMENT CORP 1 0 1 0MAGNOTTA WINERY CORP 1 0 0 0MAINFRAME ENTERTAINMENT INC 0 0 0 0MARKS WORK WEARHOUSE LTD 1 0 1 0MARSULEX INC 1 0 1 0MARTINREA INTL INC 1 0 1 0MAXXCOM INC 1 0 1 0MEC HOLDINGS CDA INC 1 0 1 0MEGA BRANDS INC 0 0 1 0MENU FOODS INCOME FUND 1 0 1 0MICROTEC ENTERPRISES INC 0 0 1 0MIKES RESTAURANTS INC 1 0 1 0MITCHELL (ROBERT) -CL B 1 0 1 0MOBILE CLIMATE CONTROL INDS 1 0 1 0MOFFAT COMMUNICATIONS 1 0 1 0MOLSON COORS CDA INC 1 0 1 0MOLSON COORS CDA-PRO FORMA 1 0 1 0MOLSON INC -CL A 1 0 1 0MONARCH DEVELOPMENT CORP 1 0 1 0MORNEAU SOBECO INCOME FUND 1 0 1 0MOSAIC GROUP INC 1 0 1 0MOVIE DISTRIBUTION INCOME FD 1 0 1 0MPL COMMUNICATIONS INC 0 0 1 0MRRM INC 1 0 0 0NATIONAL CHALLENGE SYS INC 1 0 0 0NEPTUNE TECH & BIORESSOURCES 0 0 0 0NEW FLYER INDUSTRIES INC 1 0 1 0NEXIENT LEARNING INC 0 0 0 0NEXUS GROUP INTL INC 0 0 1 0NOBLE CHINA INC 1 0 1 0NORTHCORE TECHNOLOGIES INC 0 0 0 0NORTHWEST SPORTS ENTERPRISES 0 0 1 0NORWALL GROUP INC 1 0 0 0OCEANEX INCOME FUND 1 0 1 0OFI INCOME FUND 1 0 1 0OPTIPRESS INC 1 0 1 0ORBUS PHARMA INC 1 1 0 0OSI GEOSPATIAL INC 1 0 0 0

OSPREY MEDIA INCOME FUND 1 0 1 0PACIFIC INSIGHT ELECTRONICS 1 0 0 0PAULIN H & CO LTD 1 0 0 0PBB GLOBAL LOGISTICS INCOME 1 0 1 0PDM ROYALTIES INCOME FUND 1 0 1 0PEACE ARCH ENTMT GROUP INC 0 0 0 0PERKINS PAPERS LTD 1 0 1 0PERSONA INC 0 0 1 0PET VALU CANADA INC 0 0 0 0PFB CORP 1 0 0 0PIH PAC INTL HARDWOODS INC 0 0 1 0PIZZA PIZZA ROYALTY INCM FD 1 0 1 0PLM GROUP LTD 1 0 0 0POLLARD BANKNOTE INCOME FUND 1 0 1 0POWER PLUS CORP 0 0 1 0PRADA HOLDINGS LTD 0 0 1 0PRECISION ASSESSMENT TECH CP 1 0 0 0PREMIUM BRANDS INCOME FUND 1 0 1 0PRIMA DEVELOPMENTS LTD 0 0 0 0PRIME RESTAURANTS ROYL INCM 1 0 1 0PRIMETECH ELECTRONICS INC 1 0 1 0PRINTERA CORP 0 1 0 0PRISZM CANADIAN INCOME FUND 1 0 1 0PRIVA INC 0 0 0 0Q/MEDIA SERVICES CORP 0 0 1 0QSOUND LABS INC 1 1 0 0RAILPOWER TECHNOLOGIES CORP 1 0 1 0RAINMAKER INCOME FUND 1 0 0 0RICH MINERALS CORP 1 0 0 0RICHTREE INC 0 0 1 0RIDLEY INC 1 0 1 0RITCHIE BROS AUCTIONEERS INC 1 0 1 0RIVAL TECHNOLOGIES INC 0 0 0 0ROGERS SUGAR INCOME FUND 0 0 1 0RONA INC 1 0 1 0ROSEDALE DECORATIVE PROD LTD 1 0 1 0ROYAL AVIATION INC 1 0 1 0ROYAL LASER CORP 1 0 0 0RYSTAR COMMUNICATIONS LTD 1 0 1 0SACO SMARTVISION INC 0 0 1 0SALTER STREET FILMS LTD 1 0 1 0SAPUTO INC 1 0 1 0SASKATCHEWAN WHEAT POOL INC 1 0 1 0SCAFFOLD CONNECTION CORP 0 0 1 0SCHNEIDER CORP -CL A 1 0 1 0SCI INCOME TRUST 1 0 1 0SCORE MEDIA INC 0 1 0 0SCOTTS RESTAURANTS 1 0 1 0SECOND CUP LTD 1 0 1 0SECOND CUP ROYALTY INCOME FD 1 0 1 0SEPP'S GOURMET FOODS LTD 1 0 0 0SEVENWAY CAPITAL CORP 1 0 1 0

SHEP TECHNOLOGIES INC 0 0 1 0SHIRMAX FASHIONS LTD 1 0 1 0SHOPPERS DRUG MART CORP 1 0 1 0SINTRA LTD 1 0 1 0SIR ROYALTY INCOME FUND 1 0 1 0SKYJACK INC 1 0 1 0SLEEMAN BREWERIES LTD 1 0 1 0SLEEP COUNTRY CDA INCOME FD 1 0 1 0SMK SPEEDY INTERNATIONAL INC 0 0 1 0SOBEYS INC 1 0 1 0SODISCO-HOWDEN GROUP INC 1 0 1 0SONG CORP 1 0 1 0SPAR AEROSPACE LTD 1 0 1 0SPECIALTY FOODS GRP INCM FD 0 0 0 0SPECTRA GROUP GREAT RESTS 1 1 0 0SPECTRA PREMIUM INDS INC 1 0 1 0SPORTSCENE GROUP INC 1 0 0 0STACKPOLE LTD 1 0 1 0STEEPLEJACK INDL GROUP INC 1 0 0 0STEPHENSONS RENTAL SVC IN FD 1 0 1 0STRATEGIC VALUE CORP 0 0 1 0STRONGCO INCOME FUND 1 0 1 0STUDENT TRANSPORT OF AMERICA 1 0 1 0SUN ENTERTAINMENT HOLDING CP 0 0 0 0SUN GRO HORTICULTURE INCM FD 1 0 1 0SUN-RYPE PRODUCTS LTD 1 0 0 0SUPERIOR PLUS INCOME FUND 1 0 1 0SWISS WTR DECAFFEINATED COFF 1 0 1 0SYNERGEX CORP 1 0 0 0SYNEX INTERNATIONAL INC 1 0 0 0T EATON CO LTD 1 0 1 0T S C SHANNOCK CORP -CL A 1 0 1 0TAIGA BUILDING PRODUCTS LTD 0 1 0 0TANBRIDGE CORP 1 0 1 0TECSYN INTERNATIONAL INC 1 0 1 0TEKNION CORP 1 0 1 0TELESCENE FILM GROUP -CL B 1 0 1 0THRILLTIME ENTMT INTL INC 0 0 0 0THUNDERBIRD RESORTS INC 1 0 0 0THYSSENKRUPP BUDD CDA INC 0 0 1 0TIM HORTONS INC 1 0 0 0TIR SYSTEMS LTD 1 0 0 0TRAILMOBILE CDA LTD 0 0 1 0TRANSFORCE INC 1 0 1 0TRANSFORCE INCOME FUND 1 0 1 0TRAVELBYUS.COM LTD 1 0 1 0TREE ISLAND WIRE INCOME FUND 1 0 1 0TRI-WHITE CORP 1 0 1 0TRIMAC INCOME FUND 1 0 1 0TRIMIN CAPITAL CORP 1 0 1 0TRITECH PRECISION INC 1 0 1 0TROJAN TECHNOLOGIES INC 1 0 1 0

TURBO POWER SYSTEMS INC 1 0 0 0UE WATERHEATER INCOME FUND 1 0 1 0UNIBROUE INC 1 0 1 0UNICAN SECURITY SYSTEMS-CL B 1 0 1 0URANIUM PARTICIPATION CORP 1 0 1 0VECTOR AEROSPACE CORP 1 0 1 0VELAN INC -SVTG 1 0 1 0VENTRA GROUP INC 1 0 1 0VHQ ENTERTAINMENT INC 1 0 1 0VICEROY HOMES LTD 1 1 0 0VIDEOTRN (LE GRPE) LTD 1 0 1 0VINCOR INTL INC 1 0 1 0VOXCOM INC 0 0 1 0WESCAM INC 1 0 1 0WEST 49 INC 1 0 1 0WESTBURNE INC 1 0 1 0WESTJET AIRLINES LTD 1 0 1 0WESTPORT INNOVATIONS INC 1 0 0 0WESTSHORE TERMS INCOME FD 1 0 1 0WFI INDUSTRIES LTD 1 0 0 0WHITE ROSE CRFTS&NRSY 0 0 1 0WIC WESTERN INTL COMM -CL B 1 0 1 0WITTKE INC 1 0 1 0WORLDPLUS VENTURES LTD 1 0 0 0XANTREX TECHNOLOGY INC 1 0 1 0YBM MAGNEX INTERNATIONAL INC 1 0 1 0YELLOW PAGES INCOME FUND 1 0 1 0ZTEST ELECTRONICS INC 0 0 0 0

CA-NP-287 Attachment C

Requests for Information NP 2008 GRA

Newfoundland Power - 2008 General Rate Application

Removed for Dividend Issues

Removed for Dividend Issues

FPI LTDGSW INC -CL BBOMBARDIER INC -CL BCANWEST GLOBAL COM -NVTGCOGECO CABLE INCEXCO TECHNOLOGIES LTDNEWALTA INCOME FUNDNEWFOUNDLAND CAP CORP -CL AQUEBECOR INC -CL BWAJAX INCOME FUNDALIMENTN COUCHE-TARD -CL BGROUPE LAPERRIERE&VER -CL AVITRAN CORP INCALDERWOODS GROUP INCALLIANCE ATLANTIS COMM -CL BATS AUTOMATION TOOLING SYSBALLARD POWER SYSTEMS INCCOTT CORP QUEDOREL INDUSTRIES INCFIRSTSERVICE CORP -SVTGFORZANI GROUP LTD -CL AHEROUX-DEVTEK INCKHD HUMBOLDT WEDAG INTL LTDLIQUIDATION WORLD INCMDC PARTNERS INCNORTHSTAR AEROSPACE INCREKO INTERNATIONAL GROUP INCROYAL GROUP TECHNOLOGIES LTDSHERMAG INCSTANTEC INCSUNOPTA INCTRANSAT A T INCZENON ENVIRONMENTAL INC

CA-NP-287 Attachment D

Requests for Information NP 2008 GRA

Newfoundland Power - 2008 General Rate Application

Out on Low Trading Volume and

Out for Lack of Market Data

Out on low trading volume

MCGRAW-HILL RYERSON LTDSENVEST CAPITAL INC

Out for lack of market dataHUDSON'S BAY COVERSACOLD INCOME FUND

CA-NP-287 Attachment E

Requests for Information NP 2008 GRA

Newfoundland Power - 2008 General Rate Application

Out on Beta and

Out Prior to Beta

Out on Beta

SHAW COMMUNICATIONS INC-CL B 1.033MAGNA INTERNATIONAL -CL A 1.04LINAMAR CORP 1.042VAN HOUTTE INC 1.095INTRAWEST CORP 1.096COGECO INC -SUB VTG 1.217CINRAM INTL INCOME FUND 1.351CAE INC 2.415

Out prior to Beta (see Footnote 97)NORTH WEST CO FUNDFOREMOST INCOME FUNDCANADIAN NATIONAL RAILWAY COCANADIAN PACIFIC RAILWAY LTDSNC-LAVALIN GROUP INC

CA-NP-287 Attachment F

Requests for Information NP 2008 GRA

Newfoundland Power - 2008 General Rate Application

Out on ROE Screen

Out on ROE ScreenAverage

1995-2005AGRICORE UNITED 0.95 CLUBLINK CORP 1.21 CORBY (H.) DISTILLERY -CL A 31.81 METRO INC -CL A 22.10 ROTHMANS INC 45.22 TOROMONT INDUSTRIES LTD 21.35

Sample Average ROE 13.26411

CA-NP-287 Attachment G

Requests for Information NP 2008 GRA

Newfoundland Power - 2008 General Rate Application

Out on Ratings

Out on Ratings CBS Stock RatingDBRS Rating

S&P Rating

ANDREW PELLER LTDCHUM LTD -CL B AverageDOVER INDUSTRIES LTDFOUR SEASONS HOTELS -LTD VTG Conservative BBB BB+GOODFELLOW INCJEAN COUTU GROUP Very Conservative B(high) B+LA SENZA CORPLASSONDE INDS INC -CL ALE CHATEAU -CL ALOGISTEC CORP -CL A Higher RiskQUEBECOR WORLD INC -SUB VTG Very Conservative BB B+RICHELIEU HARDWARE LTD Higher RiskRUSSEL METALS INC Average BBSEARS CANADA INC BB BB+WESCAST INDUSTRIES -CL A

Comments

DBRS withdrawn was BB(high)