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Then we can decide if, and how, we choose to respond to the PUC staffer. | dev33 |
Thanks very much for your help. | dev33 |
Best, Jeff | dev33 |
will call shortly. | dev33 |
It's always darkest before the light (though it may not get light in our lifetimes). | dev33 |
Looks great. | dev33 |
Couple of points: 1) Despite promises to the contrary--common theme in this exercise--Burton (as I understand) did not remove the condemnation (expropriation?) language from ABx6, i.e., the state can just take your power plant (or anything else, it seems), if it has the inkling. | dev33 |
That's an egregious provision in ABx6. | dev33 |
2) I don't recall trying to amend ABx18 to say, "pay them their PX credits." | dev33 |
I understood the tactic to be--get a prospective, date certain end to the freeze in the bill, which then gives us very firm legal ground on which to seek and get the money owed to us. | dev33 |
We could seek the additional language, but if putting date certain does the same thing without attracting a lot of attention, may be a preferable path. | dev33 |
3) Forgive me if I've just overlooked it, but I got wind of a bill by Ms Migden (ABx8?) that gives one whole heckuvalot of new power--power usually left to FERC--to the CA Electricity Oversight Board. | dev33 |
Anyone know about it? | dev33 |
We may want to get details for inclusion in the discussion with Delainey. | dev33 |
Best, Jeff | dev33 |
To Jim's last point. | dev33 |
I understand that the good 'ol utility system was often operated with little regard for basic economic principles, but there's something in this that seems very odd and difficult to assess, and it seems to always be tied to this notion that "California is a net importer, even in the winter." | dev33 |
I'm going to start with the economics and then let folks describe why it seemingly doesn't apply in Western electricity markets. | dev33 |
Just about every theory of economics and trade would lead to one conclusion: If California closes it's doors the other Western states will pay higher prices for power and/or face increased threats to reliability. | dev33 |
I'm struggling to try to determine why these basic principles aren't applicable to Western power markets. | dev33 |
I understand that the PNW is a very complex place and that the reasons could be embedded in the arcane structure that has developed over the years. | dev33 |
To keep it simple (though not necessarily accurate), I've confined the analysis to a world in which only the PNW and California exist. | dev33 |
The basic situation: The PNW peaks in the winter; California peaks in the summer. | dev33 |
Let's take two scenarios: 1) The West, less California, is so awash in electricity that even in its peak--the Winter--it still has power to send to California, i.e., it has so overbuilt it's system that it has persistent surpluses to sell to California. | dev33 |
Irrespective, there have (to my limited knowledge) always been sales from CA to the PNW during the winter, when the PNW is peaking. | dev33 |
The only conclusion that one can make, assuming that the PNW is awash in electricity, is that the PNW takes the power in California because it makes economic sense to do so. | dev33 |
That is, during the winter peaking months, it must be cheaper on the margin for the PNW to buy from California rather than produce itself. | dev33 |
Otherwise, it's difficult to understand why it would buy from California during this month, particularly if they're long. | dev33 |
As such, at a minimum, the PNW's electric bill will necessarily increase if California closes its doors. | dev33 |
2) Neither the PNW , nor California, has indigenous capacity to meet peaking load. | dev33 |
Therefore, the PNW must buy California's power during its peaking summer period, and California must buy power during it's summer peaking period. | dev33 |
In this case, not only will the PNW's bill go up if California closes its doors, the lights are likely to go because they'll be short power. | dev33 |
I realize that this is a simplistic model, and that there could be other legitimate economic factors driving the flows out of California to the PNW (e.g., transmission costs). | dev33 |
And again, I also realize that economics may not have traditionally been a driver in the industry. | dev33 |
But I thought it might be useful to get a common framework in place as a starting point for the question that Jim asks. | dev33 |
With that, I'll pose the question (understanding the simplicity of the model set forth above): Given that California sends power north--even if the PNW is long---how can California closing it doors not increase the PNW's cost of power? | dev33 |
Best, Jeff | dev33 |
Christian: Could you let me know as soon as possible if 1) the proposed decision that I faxed you yesterday is go to go, i.e., adequately addresses our concerns regarding creditworthiness or if 2) we want to recommend some additional provisions? | dev33 |
If we want to recommend additional provisions, could you let me know what those are? | dev33 |
I want to make a run at getting this deal done at the CPUC ASAP,and would like to push Peevey to get Davis to have the PUC pass it out at their next meeting. | dev33 |
But need to know if it's good as is or needs some tweeking. | dev33 |
Thanks very much. | dev33 |
Best, Jeff | dev33 |
Thanks very much for getting back to us. | dev33 |
So if I understand the bottom line: 1) the customer was mistakenly put back to SoCal (due to the dual service territory character of the customer's facilities), 2) the customer will be returned to our service, 3) the customer's contract with us expires on 5/31, and 4) the customer will have the option of re-signing with us, or returning to SoCalGas when the contracts ends on 5/31? | dev33 |
If I've confused anything, please let me know. | dev33 |
And thanks again for helping track down the info. | dev33 |
Best, Jeff | dev33 |
har-dee-har-har. | dev33 |
I mean, will we be celebrating in some fashion. | dev33 |
I'm scheduled to go to Houston--I'm not kidding--but if there's something planned, which I assume there is, then I'm going to cancel my trip to Houston, like pronto. | dev33 |
Ironically, Jeff | dev33 |
Eldon said that you were making dinner on Friday, the 9th, and that he was flying a plane to pick up Cameron and Rory in Carmel. | dev33 |
Have you guys spoken in the last few months!?!?!? | dev33 |
(kidding.) And don't worry about my birthday--that's not the issue. | dev33 |
It's Eldon's 80th--that's huge. | dev33 |
Friday is the 9th. | dev33 |
So I'm just checking in to see what's up. | dev33 |
My very strong inclination--for a variety of reasons, but Eldon's b-day is the biggest one--is to cancel. | dev33 |
Signed, confused | dev33 |
Thanks. | dev33 |
It would of course be easiest to make the calls and say "pass it out now, as is," but if more is needed to fix the credit issue, want to be prepared to tell them how the decision needs to be modified. | dev33 |
If it's fine as is, all the better. | dev33 |
Best, Jeff | dev33 |
Thanks again. | dev33 |
Mike, Here's the answer. | dev33 |
Please call me when you get a chance to discuss a response (if any). | dev33 |
Best, Jeff | dev33 |
I understand that there may be a need to give no quarter on this, but given the circumstances--i.e., we talk every day and time and resources are extremely tight--is it reasonable to temporarily suspend filling this thing out for the next 60-90 days? | dev33 |
Lemme know. | dev33 |
My sister just called and said that the earthquake in Seattle was 7.0. | dev33 |
That's big. | dev33 |
Best, Jeff | dev33 |
Sandi: Apologies. | dev33 |
I meant and forgot to mention on the 11:30 call that the pipeline group is having their annual customer meeting (VPs of large energy companies throughout the West and Midwest) at the Santa Barbara Biltmore on April 12th and 13th. | dev33 |
They would very much like to get Bill Keese to speak (preferably on the morning of the 13th, but the morning of the 12th would work as well). | dev33 |
They'd like Bill to discuss the energy situation in California. | dev33 |
They can cover however much of Bill's costs--if any--that the State of California allows to be covered. | dev33 |
The folks at the pipeline group asked if we could make the contact with Bill and see if he's available and willing. | dev33 |
Given your relationship, thought you might be able to check. | dev33 |
They're anxious to get someone lined up as soon as possible. | dev33 |
Feel free to contact Laura Lantefield directly at 402.398.7080. | dev33 |
Thanks very much for the help. | dev33 |
Best, Jeff | dev33 |
Hi. | dev33 |
I was trying to get a fix on whether there's something going on on the Friday of your Dad's b-day to see if I need to cancel the Houston trip. | dev33 |
What do you think? | dev33 |
Apologies. | dev33 |
The first version incorrectly left in some DWR credit issues and had a couple of other goofs. | dev33 |
Please discard and review and comment on this one. | dev33 |
But if you've already reviewed the other, no worries, since the attached is extremely similar (less the couple of goofs). | dev33 |
Thanks. | dev33 |
Lad can play both roles pretty effectively. | dev33 |
I'm assuming that the IOUs wouldn't be dumb enough to recommend something that would have an adverse effect on DWR's creditworthiness, but wanted to make sure you had a chance to review--just in case they're not as smart as I assume. | dev33 |
Thanks. | dev33 |
Jeff | dev33 |
I'd LOVE to. | dev33 |
Have class from 6:30 to 9:30...... | dev33 |
Minor edit. | dev33 |
No big deal. | dev33 |
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