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I guess I should have stated it differently. Our customers would want to lock in their price sometime between May '07 and Aug '07 (which is when we market/sell for the following winter) for NG to be delivered Oct '07 - Apr '08. I understand the basics, am just trying to think outside of the...

Suppose you're on the board of company whose primary business is selling a deregulated energy product (nat gas, power, heating oil, propane, etc). As a board member you have to suggest a strategy as to how the company should "hedge" it's upcoming fixed price offering. Your main challenge is...