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Jeff
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FYI, I'm having gall bladder surgery from January 1 to February 1.
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Very interesting.
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Quick questions: 1) $100MM come out of our pockets?
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2) Could we "guarantee" 500 MWs?
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3) Would we identify and implement DSM at our customers' sites?
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Jeff
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Attached is the URL to get to what should be a real audio broadcast of tomorrow's PUC business meeting.
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The meeting starts at 10 AM PST.
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Many who have tried to use the link in the past have been unable to connect, but the PUC may have since worked the kinks out.
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I will be at the meeting and will report back via email.
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Best, Jeff
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Toes, too.
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Number 5 under 'A flawed retail market" should read "...a power INcentive" not DISincentive.
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for dow jones direct: logon: bgaillar password: Ene498834
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We will set up a call-in number to relay to folks any actions the Commission takes tomorrow.
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The Commission meeting starts at 10 AM PST, but it's unclear when they will take up our issue.
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Since the press will likely have the place surrounded, they may decide to do that item first.
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We'll send out a notice with a call-in # and time as soon as we have the information.
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Best, Jeff
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Will do.
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These folks will need to be added to the distribution list.
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Lysa/Joseph: it's going to be a bit wacky, because, as the note indicates, I'm not sure what time the call will be.
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Anywhere from about 11 AM to 2 PM PST.
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We'll need to keep the number of ports as unlimited as possible, because I have a feeling that the note indicating that there be a meeting will get around, perhaps globally.
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As soon as I know what time I'll want to have the call, I will notify Joseph, who will need to set up the call and distribute the info to the original list I sent around plus the names below.
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If you two have suggestions on how you'd like to handle, like Ross Perot, I'm all ears.
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Thanks so much for your help.
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Also, please make sure to add Vicki Sharpe and Michael Smith of EES on the list, too.
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Jeff
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S&P threatened publicly yesterday that unless the PUC acts decisively today to fix the utilities' cash flow issue, they will significantly downgrade California's IOUs.
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I assume that's in the WSJ article Rick referenced.
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As Rick said, more info to come in a few hours.
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From the most recent information we have, the most likely outcome appears to be the following: As we've discussed this week, the administration and the utilities continue to have a very difficult time reaching agreement on 1) how much of the undercollection the IOUs should absorb and how much consumers should absorb and 2) how big the rate increase should be to manage the IOUs cash flow/credit problems (governor wants 10%, IOUs want at least 20%).
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It remains likely that the Commission will rule today on relaxing regulations to make it easier for the IOUs to enter into longer-term contracts w/out getting 2nd and 3rd guessed by the Commission.
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It is likely that the Commission will signal strongly that it will not let the IOUs go bankrupt but will only go so far as to outline its plan for considering and implementing a "rate stabilization" plan in Q1 2001.
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That said, the stakes are very high and things could change dramatically between now and 2 PM PST.
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Just talked to two SVPs with PG&E and Edison and they said that they don't know what the Commission will do at 2.
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Jeff
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will do.
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Steffes' call is FERC related.
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This one's CA PUC related.
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Mike (Smith): Since things will move pretty quickly from this point forward, we want to have a quick meeting to explore our legal options and how best to preserve them.
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We'd like to have a kickoff call after the daily 10 AM (CST ) call that Wanda Curry handles.
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Are you available after Wanda's call?
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Say 11 AM CST?
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Thanks.
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Best, Jeff
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Hotel res works for us.
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"Eldon Sellers" Please respond to eldon
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I'm going to try to attend.
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Thanks a bunch for setting it up.
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we'll get tuxes.
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however, folks won't be going leaving at the same time, so going to the airport together seems unlikely.
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and it being new year's eve, i would strongly suggest taking a cab from the airport to the hotel---gonna be a zoo.
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but, on the other hand, if scott and cameron are in for picking folks up, god love 'em.
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Looks like scott and cameron are indeed game.
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sounds like we should rent a big car--lincoln town or something.
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Edison doesn't want to play?
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Very unnecessary.
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Very kind.
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Very much appreciated.
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Thank you.
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Dasovich numbers: home: 415.621.8317 pager: 888.916.7184 cell: 415.505.6633
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Note that this communication is confidential, covered by CA's settlement rules.
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Greetings Judge Minkin: This is to inform that a representative of Enron Corp would like to address the Commission on the issue of utility rate stabilization plans at the Commission's hearings scheduled for December 27th and 28th.
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Thank you.
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Sincerely, Jeffrey Dasovich Director, Enron Corp
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Attached is a draft of the talking points for the Commission's hearings.
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Few points: Our time is likely to be limited to 5-10 minutes.
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Mike Day, our outside counsel, will make the presentation on our behalf.
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Mike Day is fleshing out the legal details of our presentation and he will forward that along for folks review later today.
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Comments can be forwarded to me via email, pager (888.916.7184), voicemail (415.782.7822), or home (415.621.8317).
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We will finalize the message points on tomorrow's daily call (10 AM CST).
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The call in number is 800.713.8600.
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Code is 80435.
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The Commission's hearings begin tomorrow at 10 AM (PST).
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Nice job.
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Going to be a wild ride.
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That's a very good point.
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I'll make the change.
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Best, Jeff
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You're right, Sue.
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Rates can't go up w/out declaring the rate freeze over in some fashion---trying to finesse it.
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Thanks very much for the comments.
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Harry also had a good comment---don't specify the amount of rate increase in our comments; rather note that the rate increase needs to be well-reasoned and based on facts and evidence.
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Will make that change.
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you were on the original.
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did you not get it?
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Thanks.
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Good points.
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Will make sure that we have "bad guys" issued covered.
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You have a great holiday with your family and a safe and happy New Year.
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Best, Jeff
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Thanks Roger.
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Here are the highlights of today's hearings: Common themes--many tracked ours pretty closely Not a question of whether rates need to rise, but by how much.
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Though some oppose any and all rate increases, the lion's share acknowledged that the utilities have a cash flow problem and the a rate increase is necessary.
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Due process matters.
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If the Commission is thinking about going as far as ending rate freezes and increasing rates, it better provide for ample due process, or countless law suits will ensue.
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Don't jump the gun.
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