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Thanks very much.
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Best, Jeff
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The Commission closed the hearings last night at 7 PM.
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The Commission refused all attempts by the utilities'--and there were several--to get information on "ending the rate freeze" into the hearing record.
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The Commission is attempting to get a draft decision out at 10 AM today (PST).
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If it gets out, there will be oral argument at 12:30 today (PST), with final decision issued tomorrow at the Commission's regularly scheduled business meeting.
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If it does not get out, there will be no oral argument, and the Commission will issue its final decision tomorrow at its regularly scheduled business meeting.
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Anything could happen but it appears at this point that the decision will only address the need for a rate increase (rumors flyling furiously regarding how high the increase will be), with "rate freeze" issues put off for another day in the near future.
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Yesterday, the Governor of California joined Edison's suit against FERC calling for region-wide, hard price caps.
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FYI: From PUC Website: The California Public Utilities Commission intends to issue a proposed decision in A.00-11-038/A.00-11-056/A.00-10-028?
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by 11:00 AM (PST) today.
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The Proposed Decision will be e-mailed to the service list and published on the Commission's website ( simultaneously.
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Here they are.
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Please review and provide comments quickly.
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I'd like to get this off to Kari ASAP.
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Thanks.
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Jeff
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Final oral argument in A.00-11-038/A.00-11-056/A.00-10-028 is scheduled for 1:00 - 3:30 this afternoon in the Commission's auditorium at 505 Van Ness Avenue, San Francisco.
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?
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The Commission will broadcast the final oral argument via phone bridge at 877-918-3008, password is 92105.
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I've had to spend a little time negotiating this AM with ENA and EES, but I'm confident that they'll be OK with this version.
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Shooting to get you the balance of the info by noon.
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Glad to hear it's useful.
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Hang in there.
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Best, Jeff
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Copy of order to follow.
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Here's a quick summary.
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Does not look great for the utilities.
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More to follow.
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one cent/kwh charge for all customers--equals 9% for rez, 7% for small biz, 12% for med commercial, 15% for large commercial and industrial only in place for 90 days Adopts TURN proposal for netting undercollection (from rate freeze) against overcollection (for CTC) Hearings begin next Wednesday (01.10.01) to begin address all remaining issues (including whether rate freeze has ended and when) and to set up a timetable to examine the results of the auditor's report
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Here's a copy of the draft.
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Thanks.
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Kari just wrote me an email expressing great appreciation for the materials.
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I told her that the rest will follow in the next hour.
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You're about to get from me the details on the buy-down proposal.
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I don't think that the bankers or the capital markets are going to swallow what Loretta Lynch issued today.
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Will do.
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That glitch in his email address has truly been my nemesis throughout.
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I apologize.
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I thought that had been taken care of.
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I'll take care of it.
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If it's any indication, Edison was down 2.75 today.
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Not pretty.
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you get the 5-year block numbers from Bob?
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Hi Sue: A very happy new year to you.
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Mr Kean has had me underwater since last Thursday night, but I'll resurface tomorrow, at which time we can catch up on a number of things, including bills.
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But I wanted to forward along Steve's memo that we discussed just prior to Xmas.
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Hope you had a great holiday and that all is well.
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Best, Jeff
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Greetings Kari: Forgive the delay.
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Much going on today, PUC draft decision in particular.
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The draft does not look promising for the utilities' financial position.
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Attached are our comments on the Governor's Proposals and some more detail on the demand-reduction proposal.
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We continue to work on the Nord Pool research for you and will turn that around as quickly as we can.
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Again, don't hesitate to contact me if there's anything else I can help with, or if there's anything else that you need.
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(415.782.7822) Best, Jeff
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California Electricity Update
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two questions: 1) are we having a staff meeting tomorrow?
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2) why the heck aren't you in the bonus meeting?
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I forwarded this to you so that you could have a chance to take a peek at it before forwarding along to the rest of the group.
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If you'd like me to forward it along to the larger group, just let me know.
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Jeff
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FYI.
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When I sent Kari Dohn some additional materials today, I mentioned in passing that I thought the Commission's draft decision fell short.
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She responded by asking why.
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Attached is my response, and hers.
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Perhaps there's a glimmer of hope for the IOUs between now and tomorrow.
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Best, Jeff
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Here's what we've delivered to Davis: Message points on the "big picture" Reasons that the Governor needs to broaden his information network (i.e., get better advice) and a proposal for how to do it Comments on the Governor's proposals Detail on how to execute the "buy-down" proposal 7X24, Peak and Off peak prices for 5-year blocks of power The only thing left to send is the Nord Pool material, which Jim Steffes is help me to gather for delivery tomorrow.
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Best, Jeff
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Best of luck.
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You've got a tough job.
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Guess you'll be working that much harder now that John Stevens is on his way to San Francisco.
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At last week's meeting, a request was made for peak and off peak prices.
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I've attached prices that we filed yesterday at FERC as part of its on-going proceeding of forward contracts.
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Few comments: We'd appreciate it if you could keep the information confidential, particularly since the information is covered by FERC's confidentiality provisions.
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Since we are not a "generator," we buy and sell in the market, which as you know is currently very volatile.
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Consequently, the quotes that we provide customers change daily to reflect changing market prices.
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These prices were put together and filed yesterday, but you may have heard that prices were down today.
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So quotes we made today were lower.
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And quotes we makes tomorrow will reflect tomorrow's market conditions and will likely be different from today's.
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Because these quotes were assembled yesterday, they are only "indicative."
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That is, if someone wanted to buy these products today, we'd have to recalculate prices, because the quotes established yesterday are no longer valid (for the reasons I mentioned above).
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Hope this helps.
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If you have any questions, let me know.
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Best, Jeff
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Attached are the final versions of confidential materials provided to the Governor's office.
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Best, Jeff
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Hi Sue: Hope all is well in the land of forward contracts.
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Do we know who the speakers are?
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Is Dave Parquet attending for us?
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Thanks.
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Jeff
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Greetings: Well, hope your holiday was great, because I'm back with more questions.
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To change my direct deposit account, can I do that on line, or do I need to do it by other means?
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Thanks, as always, and I hope you have a great 2001.
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Best, Jeff
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As you can imagine, the distribution list has almost reached the size of the entire company.
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If you folks could distribute materials to those in your group that need it, that would really help out a lot.
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Let me know if that works.
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