Eme Homer City Generation 8-K Regulation FD Disclosure

Exhibit 99.2

DISCLAIMERS		PRELIMINARY DRAFT SUBJECT TO FRE 408
The forecast is based on various assumptions, many of which are subject to changing market conditions.
EMEHC continues to explore ways to address its near term liquidity needs.
Case:	Projections as of 3/9/12 - Spring Outage Scenario

($ millions)	Feb 2012			Mar 2012			Apr 2012			May 2012			Jun 2012			Jul 2012			Aug 2012			Sep 2012			Oct 2012			Nov 2012			Dec 2012
Operating Statistics
Generation (GWh)	855			873			776			442			741			943			946			757			792			779			869
Realized Market Price ($/MWh)	$	29.98		$	28.71		$	28.59		$	31.15		$	34.22		$	37.47		$	36.70		$	32.84		$	31.63		$	31.85		$	34.86
Revenue
Prior Month Revenue True-up	$	—		$	(1.7	)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
MTD Realized Energy	$	26.3		$	3.3		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
MTD Realized Transmission Revenue	$	0.2		$	0.1		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
BOM Forecasted Energy	$	—		$	21.8		$	21.9		$	13.7		$	25.2		$	35.3		$	34.6		$	24.7		$	25.0		$	24.7		$	30.1
BOM Forecasted Trans Revenue	$	—		$	0.2		$	0.8		$	0.5		$	0.5		$	1.2		$	1.2		$	1.2		$	0.5		$	0.5		$	0.5
Current Month Revenue Repayment	$	(53.4	)	$	(38.2	)	$	(28.5	)	$	(20.2	)	$	(32.2	)	$	(43.2	)	$	(42.5	)	$	(32.4	)	$	(32.2	)	$	(31.7	)	$	(37.3	)
Prompt Month Revenue Prepayment	$	38.2		$	28.5		$	20.2		$	32.2		$	43.2		$	42.5		$	32.4		$	32.2		$	31.7		$	37.3		$	45.2
Current Month Capacity Revenue	$	5.6		$	6.0		$	5.8		$	6.0		$	6.5		$	6.7		$	6.7		$	6.5		$	6.7		$	6.5		$	6.7
Total Net Revenue (1)	$	16.8		$	19.9		$	20.2		$	32.2		$	43.2		$	42.5		$	32.4		$	32.2		$	31.7		$	37.3		$	45.2
Revenue Account
Ending Balance from Prior Month (2)				$	0.3		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Plus: Transfer of Total Net Revenue (3)				$	19.9		$	20.2		$	32.2		$	43.2		$	42.5		$	32.4		$	32.2		$	31.7		$	37.3		$	45.2
Plus: Transfer of Excess Available from Equity Account (4)				$	19.0		$	0.7		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Cash Available to Fund Operating Account				$	39.3		$	20.9		$	32.2		$	43.2		$	42.5		$	32.4		$	32.2		$	31.7		$	37.3		$	45.2
Less: Transfer to Operating Account				$	(30.0	)	$	(20.9	)	$	(32.2	)	$	(43.2	)	$	(42.5	)	$	(32.4	)	$	(32.2	)	$	(31.7	)	$	(37.3	)	$	(37.8	)
Cash Available to Fund Senior Rent Reserve Requirement				$	9.2		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	7.4
Less: Transfer to Senior Rent Payment Account				$	(8.5	)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	(7.4	)
Cash Available to Fund Equity Rent Account				$	0.7		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Less: Transfer to Equity Account				$	(0.7	)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Ending Balance for Current Month				$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Operating Account
Ending Balance from Prior Month (2)				$	28.2		$	31.1		$	20.9		$	9.1		$	17.3		$	27.7		$	24.5		$	15.7		$	16.5		$	21.0
Less: Paid Expenses				$	(5.0	)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Less: Invoiced/Yet to be Paid Expenses				$	(4.9	)	$	(4.1	)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Less: Forecasted Coal Expenses				$	(11.3	)	$	(4.7	)	$	(18.0	)	$	(16.8	)	$	(18.8	)	$	(23.5	)	$	(21.5	)	$	(18.6	)	$	(20.1	)	$	(21.2	)
Less: Forecasted Planned Overhaul & CapEx				$	(3.6	)	$	(11.1	)	$	(16.4	)	$	(10.2	)	$	(5.2	)	$	(3.7	)	$	(4.8	)	$	(4.7	)	$	(3.9	)	$	(2.4	)
Less: Forecasted Other O&M Expenses & Lag				$	(2.3	)	$	(11.2	)	$	(9.6	)	$	(8.0	)	$	(8.1	)	$	(8.4	)	$	(14.6	)	$	(7.5	)	$	(8.8	)	$	(7.7	)
Balance Before End-of-Month Transfer				$	1.0		$	—		$	(23.1	)	$	(25.9	)	$	(14.8	)	$	(7.9	)	$	(16.4	)	$	(15.1	)	$	(16.3	)	$	(10.2	)
Plus: Transfer from Revenue Account				$	30.0		$	20.9		$	32.2		$	43.2		$	42.5		$	32.4		$	32.2		$	31.7		$	37.3		$	37.8
Ending Balance for Current Month				$	31.1		$	20.9		$	9.1		$	17.3		$	27.7		$	24.5		$	15.7		$	16.5		$	21.0		$	27.6
Senior Rent Payment Account
Ending Balance from Prior Month (2)				$	39.9		$	48.4		$	—		$	—		$	—		$	—		$	—		$	—		$	(47.7	)	$	(47.7	)
Less: Senior Rent Payment				$	—		$	(48.4	)	$	—		$	—		$	—		$	—		$	—		$	(47.7	)	$	—		$	—
Plus: Transfer from Revenue Account				$	8.5		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	7.4
Ending Balance for Current Month				$	48.4		$	—		$	—		$	—		$	—		$	—		$	—		$	(47.7	)	$	(47.7	)	$	(40.3	)
Equity Account
Ending Balance from Prior Month (2)				$	19.0		$	0.7		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Less: Transfer to Revenue Account				$	(19.0	)	$	(0.7	)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Balance Before End-of-Month Transfer				$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Plus: Transfer from Revenue Account				$	0.7		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Ending Balance for Current Month				$	0.7		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Total Funding Shortfall (5)				$	—		$	—		$	(23.1	)	$	(25.9	)	$	(14.8	)	$	(7.9	)	$	(16.4	)	$	(62.9	)	$	(64.0	)	$	(50.5	)
Senior Rent Schedule
Senior Rent Payment				$	—		$	48.4		$	—		$	—		$	—		$	—		$	—		$	47.7		$	—		$	—
Senior Rent Reserve Requirement				$	8.0		$	7.8		$	7.8		$	7.8		$	7.8		$	7.8		$	7.8		$	7.0		$	7.0		$	7.0
Senior Rent Fees and Expenses				$	0.5		$	—		$	—		$	—		$	—		$	—		$	0.7		$	—		$	—		$	—
Target End-of-Month Senior Rent Reserve Balance				$	47.9		$	7.8		$	15.7		$	23.5		$	31.4		$	39.2		$	47.0		$	7.0		$	14.1		$	21.1

Notes:

(1)	All netting of revenues takes place at EMMT before Total Net Revenue is transferred to the Revenue Account.
(2)	Starting cash balance as of 3/1/2012.
(3)	Assumes continued prepayment of revenues by EMMT.
(4)	Amounts available in Equity Account can be used to fund Revenue Account.
(5)	Sum of Operating Account Shortfall (Balance Before End-of-Month Transfer from Revenue Account), if any, and Senior Rent Payment Account shortfall, if any.

DISCLAIMERS PRELIMINARY DRAFT SUBJECT TO FRE 408

The forecast is based on various assumptions, many of which are subject to changing market conditions.

EMEHC continues to explore ways to address its near term liquidity needs.

Case:   Projections as of 3/9/12 - Fall Outage Scenario

($ millions)	Feb 2012			Mar 2012			Apr 2012			May 2012			Jun 2012			Jul 2012			Aug 2012			Sep 2012			Oct 2012			Nov 2012			Dec 2012
Operating Statistics
Generation (GWh)	855			873			1,041			575			723			922			925			740			575			567			869
Realized Market Price ($/MWh)	$	29.98		$	28.71		$	28.58		$	31.17		$	34.23		$	37.48		$	36.70		$	32.85		$	31.76		$	32.00		$	34.86
Revenue
Prior Month Revenue True-up	$	—		$	(1.7	)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
MTD Realized Energy	$	26.3		$	3.3		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
MTD Realized Transmission Revenue	$	0.2		$	0.1		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
BOM Forecasted Energy	$	—		$	21.8		$	29.7		$	17.9		$	24.6		$	34.5		$	33.9		$	24.2		$	18.2		$	18.1		$	30.1
BOM Forecasted Trans Revenue	$	—		$	0.2		$	0.8		$	0.5		$	0.5		$	1.2		$	1.2		$	1.2		$	0.5		$	0.5		$	0.5
Current Month Revenue Repayment	$	(53.4	)	$	(38.2	)	$	(36.3	)	$	(24.4	)	$	(31.6	)	$	(42.4	)	$	(41.8	)	$	(31.9	)	$	(25.4	)	$	(25.0	)	$	(37.3	)
Prompt Month Revenue Prepayment	$	38.2		$	36.3		$	24.4		$	31.6		$	42.4		$	41.8		$	31.9		$	25.4		$	25.0		$	37.3		$	45.2
Current Month Capacity Revenue	$	5.6		$	6.0		$	5.8		$	6.0		$	6.5		$	6.7		$	6.7		$	6.5		$	6.7		$	6.5		$	6.7
Total Net Revenue (1)	$	16.8		$	27.8		$	24.4		$	31.6		$	42.4		$	41.8		$	31.9		$	25.4		$	25.0		$	37.3		$	45.2
Revenue Account
Ending Balance from Prior Month (2)				$	0.3		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Plus: Transfer of Total Net Revenue (3)				$	27.8		$	24.4		$	31.6		$	42.4		$	41.8		$	31.9		$	25.4		$	25.0		$	37.3		$	45.2
Plus: Transfer of Excess Available from Equity Account (4)				$	19.0		$	16.6		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Cash Available to Fund Operating Account				$	47.1		$	41.0		$	31.6		$	42.4		$	41.8		$	31.9		$	25.4		$	25.0		$	37.3		$	45.2
Less: Transfer to Operating Account				$	(21.9	)	$	(37.5	)	$	(30.9	)	$	(33.7	)	$	(35.1	)	$	(31.9	)	$	(25.4	)	$	(25.0	)	$	(37.3	)	$	(45.2	)
Cash Available to Fund Senior Rent Reserve Requirement				$	25.2		$	3.5		$	0.7		$	8.7		$	6.7		$	—		$	—		$	—		$	—		$	—
Less: Transfer to Senior Rent Payment Account				$	(8.5	)	$	(3.5	)	$	(0.7	)	$	(8.7	)	$	(6.7	)	$	—		$	—		$	—		$	—		$	—
Cash Available to Fund Equity Rent Account				$	16.6		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Less: Transfer to Equity Account				$	(16.6	)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Ending Balance for Current Month				$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Operating Account
Ending Balance from Prior Month (2)				$	28.2		$	23.0		$	37.5		$	30.9		$	33.7		$	35.1		$	31.9		$	13.8		$	(4.4	)	$	(6.0	)
Less: Paid Expenses				$	(5.0	)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Less: Invoiced/Yet to be Paid Expenses				$	(4.9	)	$	(4.1	)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Less: Forecasted Coal Expenses				$	(11.3	)	$	(5.6	)	$	(23.3	)	$	(16.8	)	$	(21.5	)	$	(23.0	)	$	(21.0	)	$	(17.9	)	$	(15.3	)	$	(16.1	)
Less: Forecasted Planned Overhaul & CapEx				$	(3.6	)	$	(2.1	)	$	(4.4	)	$	(6.3	)	$	(4.1	)	$	(3.7	)	$	(7.6	)	$	(17.9	)	$	(15.0	)	$	(3.7	)
Less: Forecasted Other O&M Expenses & Lag				$	(2.3	)	$	(11.2	)	$	(9.8	)	$	(7.8	)	$	(8.1	)	$	(8.4	)	$	(14.7	)	$	(7.5	)	$	(8.6	)	$	(7.7	)
Balance Before End-of-Month Transfer				$	1.0		$	—		$	—		$	—		$	—		$	—		$	(11.5	)	$	(29.4	)	$	(43.3	)	$	(33.4	)
Plus: Transfer from Revenue Account				$	21.9		$	37.5		$	30.9		$	33.7		$	35.1		$	31.9		$	25.4		$	25.0		$	37.3		$	45.2
Ending Balance for Current Month				$	23.0		$	37.5		$	30.9		$	33.7		$	35.1		$	31.9		$	13.8		$	(4.4	)	$	(6.0	)	$	11.8
Senior Rent Payment Account
Ending Balance from Prior Month (2)				$	39.9		$	48.4		$	3.5		$	4.2		$	12.9		$	19.6		$	19.6		$	19.6		$	(28.2	)	$	(28.2	)
Less: Senior Rent Payment				$	—		$	(48.4	)	$	—		$	—		$	—		$	—		$	—		$	(47.7	)	$	—		$	—
Plus: Transfer from Revenue Account				$	8.5		$	3.5		$	0.7		$	8.7		$	6.7		$	—		$	—		$	—		$	—		$	—
Ending Balance for Current Month				$	48.4		$	3.5		$	4.2		$	12.9		$	19.6		$	19.6		$	19.6		$	(28.2	)	$	(28.2	)	$	(28.2	)
Equity Account
Ending Balance from Prior Month (2)				$	19.0		$	16.6		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Less: Transfer to Revenue Account				$	(19.0	)	$	(16.6	)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Balance Before End-of-Month Transfer				$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Plus: Transfer from Revenue Account				$	16.6		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Ending Balance for Current Month				$	16.6		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	��
Total Funding Shortfall (5)				$	—		$	—		$	—		$	—		$	—		$	—		$	(11.5	)	$	(57.6	)	$	(71.4	)	$	(61.6	)
Senior Rent Schedule
Senior Rent Payment				$	—		$	48.4		$	—		$	—		$	—		$	—		$	—		$	47.7		$	—		$	—
Senior Rent Reserve Requirement				$	8.0		$	7.8		$	7.8		$	7.8		$	7.8		$	7.8		$	7.8		$	7.0		$	7.0		$	7.0
Senior Rent Fees and Expenses				$	0.5		$	—		$	—		$	—		$	—		$	—		$	0.7		$	—		$	—		$	—
Target End-of-Month Senior Rent Reserve Balance				$	47.9		$	7.8		$	15.7		$	23.5		$	31.4		$	39.2		$	47.0		$	7.0		$	14.1		$	21.1

Notes:
(1)	All netting of revenues takes place at EMMT before Total Net Revenue is transferred to the Revenue Account.
(2)	Starting cash balance as of 3/1/2012.
(3)	Assumes continued prepayment of revenues by EMMT.
(4)	Amounts available in Equity Account can be used to fund Revenue Account.
(5)	Sum of Operating Account Shortfall (Balance Before End-of-Month Transfer from Revenue Account), if any, and Senior Rent Payment Account shortfall, if any.