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If there is a deal shaping up, it's happening by and large through the auspices of IEP.
dev33
We've thus far decided to maintain an arm's length relationship with IEP, choosing not to get too close to the generators.
dev33
If we want to influence any deal they cut, we'll need to assess how closely aligned/associated with them we want to be.
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Further we distance ourselves, less likely we'll be cut in. That said, Sue and I have been participating in IEP's (interminable) conference calls and actively weighing in to influence what they do.
dev33
There was considerable discussion on the last call about developing some sort of "price cap" proposal that could form the basis of a deal, but no discussion whatsoever regarding refunds of any kind.
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There were differences of opinion about the benefits of doing a deal on a cap----Williams is dead set against it, Dynegy & Reliant seemed considerably more pliable.
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We reminded folks that there are many other things apart from caps that California could do to "fix" the problem (e.g., site plants, forward contracts, retail market, core/noncore split, etc.), which might obviate the need for caps altogether.
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We also recognized the political nature of the situation and expressed a willingness to discuss a cap that might be acceptable, but pointed out our general concerns with caps.
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That last meeting provided the impetus for the 28th press conference, at which (hopefully) a large number of stakeholders with urge the Governor and the PUC to get off the dime and do something concrete that can help---develop a rational policy for forward contracting by the IOUs and abandon the "PUC as counterparty" policy that currently exists.
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Again, haven't heard a peep about any deal on refunds.
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Will check around, though.
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Best, Jeff
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I'll check with Smutney.
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Can you two check with your Dynegy and Reliant contacts in Houston?
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I'm available.
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How about $1 billion to build some new pipelines in California?
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To: Jeff Dasovich/NA/Enron@Enron cc: Susan Scott/ET&S/Enron@ENRON, Steven Harris/ET&S/Enron@ENRON Subject: A chicken in every pot Hey, Wouldn't this fix everything?
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What a great idea- a govenment owned utility.
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Who in their right mind would want to give the money back to taxpayers?
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I think Enron should cast aside its dependency on free markets,and throw its support behind this well thought out public initiative.
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Let us know how Transwestern can help!
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Calif. lawmaker pushes for state energy reserve California State Sen. Steve Peace called for the state to set aside $2 billion of a projected $10 billion budget surplus to create a reserve account to serve the state,senergy needs.
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A representative at Peace,s office said the senator planned the fund as a &cushion8 to help the state bounce back from energy price shocks like those that hit it lastsummer.
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Peace, speaking Monday at a briefing on the upcoming state budget, suggestethat the California Legislature set aside $2 billion to use at a later date.
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The funds could be included in the budget that Gov. Gray Davis is scheduled to announce Jan. 10.
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Ostensibly, the government could use the funds to purchase some of the state,s transmission grid angeneration assets, or to build new assets.
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In his remarks, Peace said some of the $2 billion could be used to build a500-MW generation facility, which he estimates at $300 million, a peaker that could be set upfor $16 million, or a transmission grid such as the $200 million system a California utilityhas proposed for the southern part of the state.
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&The use of public dollars to finance development, private-public partnerships, or to capitalize publicly owned utilities are all options which California policymakers mayhave to consider if [FERC] is unable to bring wholesale energy markets under control,8 he said.
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Still, representatives at the senator,s office stressed that Peace was nmaking any policy decisions in his statement.
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Rather, a representative said, Peace was actingin his capacity as chairman of the Senate Budget and Fiscal Committee and setting aside fundsthat can be available for future use.
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Peace,s initiative comes on the heels of a report by the Legislature,Legislative Analysis Office forecasting a $10.3 billion surplus for fiscal years 2000-2002 (a $6billion surplus for 2000-2001 and a $3.4 billion surplus for 2001-2002).
dev33
What's the latest tally in Florida?
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It gets increasingly important every time Richardson opens his gawd-fersaken mouth.
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Unless Loretta Lynch, or worse, Gray Davis are your counter parties.
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you do the same, buddy.
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Hey, fearless, leader.
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You going to distribute that spreadsheet?
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And when do we need to regroup.
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Happy Thanksgiving.
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I'll report by on my conversations with Mike.
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Best, Jeff
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thank you.
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Hey: Just wanted to let you know that I've received all the SDG&E stuff and that you can count on me to completely drop the ball.
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Kidding!
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I'll take care of it.
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I'm still awash in reviews and may not ever leave the building, which is why I'm not responding as promptly as I should.
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Best, Jeff
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Jim: Have a great Thanksgiving with your family.
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It's a great pleasure doing business with you.
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Best, Jeff
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Well, this shows the direction in which the "new" Commission is heading.
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The very good news, though, is that TW's proposal was included in both settlements (now that's hedging!).
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Thus, the benefits to TW were preserved under both proposals.
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Congratulations.
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That's fantastic--hard work that paid off.
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We will of course express out extreme dissappointment with the PD, and point out that this decision condemns California to a 20th century infrastructure, when the state's 21st century economy demands much, much better.
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We should discuss.
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Since the PD empowers the likes of Norm and Florio, it will be important to play very close attention to implementation of Hector.
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Sorry to have to be the one to deliver the news.
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But we have a knack of making lemonade out of lemons and we'll do out best to do the same here, whatever turns up at the end.
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Best, Jeff
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monday--LA w/S.
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Kean re: meeting w/Gov's staff tuesday--in office thurs/fri--houston re: EBS meetings
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are you offering a finder's fee?
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i'm cheap.
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Thanks, all.
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I'll get a compiled answer out later today.
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Aleck: I'll take a look at it.
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If I have any comments, I'll forward them along.
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Also, I may forward along some very slight changes to the numbers on the ISO's RFP "experience," should you decide you want to incorporate those "lessons" into your presentation.
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I'll provide any amendments to those numbers by tomorrow.
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Best, Jeff
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OK folks, here it is.
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Sorry for the delay, but those pesky questions ended up being more detailed than I anticipated.
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Please take a quick look and let me know if there are any comments---more ambiguities than usual in this one.
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I'll await comments and finalize this evening.
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Jimmie/Dylan--my apologies, but last Wednesday evening, I found out that I have to be in LA for a meeting tomorrow.
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If I make it to class at all tomorrow, I won't get there until after the break.
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Could one of you print out the case and bring it to class?
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If not, don' t sweat it, I'll email him an electronic and turn in a hard copy to him on Tuesday.
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Sorry for any hassle.
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Best, Jeff
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Thanks.
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I'll soften the expropriation language.
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I don't think they can disclose the $1 million on the product liability case, since the entire package appears to be one negotation, all the pieces of which likely have to be agreed to, or no settlement.
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But you're point's well taken and I'll try to acount for it in the answer.
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Finally, I can't see disclosing the fact that I'm infringing on someone's patent in my annual report.
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Seems like I'd have a hard time defending myself in court if they sued me, if I'd admitted it to it in my annual report.
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If I don't see you tomorrow, have a good week.
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see you at the freight.
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best,
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Greetings Professor: I'm in charge of managing our collective responses to this week's case and have been called out of town on business at the last minute.
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As a result, if I make it to class at all tomorrow, I unfortunately won't make it until after the break.
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While I think one of my teammates will bring a hard copy to class tomorrow, I wanted to plan for any mix-ups (contingencies?) by emailing a copy as well.
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Best, Jeff
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Folks: Here's the final.
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I incorporated some comments from Christine and emailed a copy to Aceves.
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Jimmie/Dylan let me know if one of you can bring a hard copy to class tomorrow.
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If not, he's now got an electronic copy, and I'll drop off a hard copy on Tuesday.
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Hope to see you (for at least half the class) tomorrow.
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