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Best, Jeff
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As a follow-up to our call.
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Here is some additional information regarding QF pricing issues.
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QFs who voluntarily switched to PX pricing have been getting paid full PX prices (and there seem to be a couple of thousand MWs that have switched. The concern is that the Commission's ultimate decision on PX-based QF prices will force the QFs that have switched to "refund" some of the payments they've received (e.g., under a "PX minus" mechanism). The majority of QFs are happy with the judge's proposed decision pending before the PUC (except those remotely located QFs who will take a big GMM hit). As we discussed, the Commission strongly rejected Edison's emergency motion regarding the gas piece of the QF pricing formula. Recall also that a couple of months ago
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I accidentally sent it before it was complete.
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Full note to follow.
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OK, given the Enron Xmas party in Houston, and Sue's request that weekends be included in the ballot, please repond to the dates listed below.
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Please give 1) your top 3 preferences, and 2) any days for which you have a (true) conflict.
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Thanks.
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Also, unless I hear otherwise, we'll assume that partners and children come included.
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Thanks.
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Best, Jeff Nov. 30, Dec. 1, Dec. 2
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Bill Reed Sempra's "Chief Regulatory Officer" will replace Gary Cotton on the ISO Board.
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Wednesday, Dec. 13th would work best for me.
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FYI.
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Recently, Chris Calger has asked me to set up a meeting with Sempra.
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ENA's seeking deals with the two big CA gas IOUs (PG&E and SoCalGas) that would give ENA access to their assets.
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In short, ENA wants to offer a complete outsource deal for the IOUs' core gas load (i.e., rez and small commercial customers).
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ENA would take responsibility for providing service for delivery at the city gate and in return would manage all of core's assets (upstream of the city gate).
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We're meeting with Sempra's "Chief Regulatory Office" (Bill Reed) and Sempra's CFO next Thursday to discuss.
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Given the fact that Sempra's primarily focused on electricity, the plan is to lead off the meeting with a couple of electricity solutions as a bridge to the gas offer.
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For electricity, the plan has two pieces: 1) a commodity offer that beats the 6.5 cent cap (i.e., nothing fancy) and 2) "Deal Bench" services with the intent of establishing a procurement mechanism for SDG&E that the California PUC could pre-approve (thereby eliminating some of the immense regulatory risk SDG&E now faces).
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Wanted to run this by folks to gauge reactions.
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We'll distribute the slides we're putting together as soon as they're drafted--hopefully by COB Friday.
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Best, Jeff
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Hey Tim: Calger asked me recently to set up a meeting with Sempra to try to do a gas outsource deal.
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We're meeting with the CFO and their Chief Reg Officer next Thursday.
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On a call today, we thought--for a variety of reasons--that we ought to throw an electric commodity deal at them, too, while we're there.
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Laird Dyer's going to call you for indicative prices (same drill we did for Skilling).
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If you have any questions, or want me to fill you in more, just give a holler, or check in with Chris.
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Best, Jeff
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Steve: Here's a word version of the MSA.
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Sorry for the delay.
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Could you make changes in strike-out-underline format and email back to me when you're done?
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Thanks a million.
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Best, Jeff
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Could be me, but that doesn't look like your email address.
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You get this email from Jeremy (good guy who works with Steve)?
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Just following up to make sure that accounting knows that ETI's quarterly fee statement needs to be turned in by the 15th.
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Best, Jeff
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Vail???
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Flagstaff???
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Man, I'm in the wrong business.
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Now listen Stumpy, if you think you're going to Vail so some half-#%$#ed customer can run over your OTHER knee with a snow mobile, right before your wedding, well think again, buster.
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I'll see if we can set up a meeting on Thursday the 2nd.
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Signed, Stuck in Lodi Again
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Roger.
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Mums the word on the gov.
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Jim: You available to talk at 9:30 Houston time re: how to stop the next attempt at the ISO board to lower the price caps further?
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If not, are you available at about 3 PM houston time to discuss same?
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Thanks.
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Hi.
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Hope the ride back to Sacramento went OK last nite.
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It was nice to see you and catch up.
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I'm sorry things are so crazy, but in spite of it all, your attitude's pretty good.
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And your new suede jacket is gorgeous.
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I know your life is very complicated and I don't want to make it worse, but if you ever have the time and inclination to go to lunch, dinner, movie, whatever, I'd definitely be up for it.
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Hang in there.
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Hope to catch up again soon.
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Best, Jeff
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I can help, but what's your timing?
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FYI.
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Good points.
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Paul's traveling.
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I think it would be a good idea to re-group on the QF issues in California because the terrain has changed considerably in CA.
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Best, Jeff
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plz call re: contact w/pg&e 415.782.7822
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hmm.
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that makes it tougher.
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it's crisis central today.
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for quick answers try the ISO website (caiso.com).
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i think you can find all that you need.
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if not get back to me.
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great.
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No worries.
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I'm not going anywhere.
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Focus on you.
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If you're body's reacting poorly, swift action is warranted.
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If there's anything I can do to help, don't hesitate.
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Hang in there.
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Best, Jeff
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thanks.
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i'll be here.
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FYI.
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Just got a call from Jan Smutney-Jones.
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Apparently, word is on the street that Peace intends to begin targeting Enron as an example of the "misconduct" that Peace alleges has occured in California's markets.
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Smutney thinks Peace may be keying off the comments of the "unnamed" trader in the Dow article claiming that Enron's been buying power and holding on to it.
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Apparently Peace's other angle is/will be: "The same people who colluded in the design of this market are now colluding to profit unfairly from it."
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No idea of when and how Peace might launch any attacks.
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Two immediate thoughts: Apart from the bad reporting in the Dow article, that article shows that Enron got beat by, among others, two federal (Canada and the US), one state (SRP) and one municipal (LADWP) government.
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David Freeman, who now heads up LADWP, was appointed "Czar" by the State of California and charged with the task of implementing Steve Peace's brain child (AB 1890).
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Freeman set up the ISO and PX market structures.
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He also set up the Governing Boards.
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I love you, sweetie.
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You didn't run out of gas did you?
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I don't know.
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did you get the "I love you" email that I sent today?
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DJ PG&E Says Won't Try To Escape Rate Freeze For Now >PCG Copyright , 2000 Dow Jones & Company, Inc. SAN FRANCISCO (Dow Jones)--PG&E Corp. (PCG) won't try to lift California's state-mandated rate freeze before the end of the transition to a deregulated market, saying it wants to protect its customers from volatile power prices, senior company officials said Wednesday.
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"We aren't moving at this time to end the rate freeze. But that view might change in the future," said a senior company official, who requested anonymity.
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PG&E invited reporters to its headquarters Wednesday to discuss plans for repairing a "not workably competitive power market" and several steps the utility plans to file with federal regulators to do that.
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