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Possible to start at 11?
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Best, Jeff
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I'll be in air (to Houston) at that time tomorrow.
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Harry can you attend EES (San Diego team call)?
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Best, Jeff
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Sue Mara was correct on the call yesterday.
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While the PUC meets regularly on Thursdays, it appears they are having a meeting today at which the "Bilas Alternative" is up for a vote.
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Our information is that there is some likelihood that the decision will be approved----but please don't hold your breath.
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We'll disseminate information just as soon as we get it.
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Best, Jeff
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The notion that it would have to be a monthly analysis sounds like pure Roger, and could likely be correct.
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But we need to determine whether we can get what we need by doing a "less precise" annual versus a "monthly."
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Seems that once we've made that call, we direct the scenario and they do it.
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Thoughts?
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Best, Jeff
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Attached is a rough draft of some scenario development around the PX credit and rate issues.
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Few points: Apologies in advance for any errors and inaccuracies.
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Given time crunch, the model developed is quite crude and will need refinement (to be sure).
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The bankruptcy scenario is included (scenario 4), but (again, given the time crunch) has not been analyzed to the same extent as the other scenarios.
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Tribolet should be able to provide good insights there, however.
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The exposure has not been calculated since GA does not have the numbers, but EES should be able---once there's agreement on scenarios and probabilities---to run the numbers very quickly.
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I've assigned my view of what the probabilities are.
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These are key inputs and the team will need to scrub them thoroughly.
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For ease of use by all, and given time considerations, I've done the conceptual model in word format, rather than excel.
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It will be simple to translate this conceptual model to a spreadsheet model (in excel).
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Best, Jeff
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great.
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see you there.
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of course.
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The Commission just voted out one half of the "Bilas Alternate."
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The decision that got voted out included Bilas' DWR-based language stating that the PUC 1) would not second-guess DWR purchases and 2) would pass through DWR costs to customers.
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However, in a move led by Commissioner Carl Wood, the decision removed the Bilas language on Direct Access.
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The decision therefore did NOT include the Bilas language staying any Commission action on implementing the Direct Access prohibition.
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Carl Wood called including Direct Access "the height of arrogance."
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The decision was voted out 3-2, with the 2 remaining Republicans dissenting.
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That said, the Commission has no proposal before it implementing the prohibition, and there was no talk at the meeting of implementing the prohibition any time soon.
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Best, Jeff
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Tell me it ain't so, Bob.
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Hostile would be a gross understatement.
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If you would like to chat further let me know.
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Best, Jeff
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FYI.
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I've notified Bob and Mike about Carl Wood's proclivities.
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Best, Jeff
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I'm in SF.
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I'll be here.
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It continues to be fun, fun, fun out here.
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Give a call and I can Best, Jeff
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FYI.
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This version includes Jim's and Ken's suggestions.
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Best, Jeff
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This copy should correct all of the the typos identified on the call this morning.
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Apologies if I've missed any.
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Best, Jeff
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Thanks, Steve.
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Alan, any word from Tim re: resource availability?
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See you all in Houston.
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Best, Jeff
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No. The decision would have prevented the Commission from implementing the legislation that prohibits direct access, at least during the time that Legislature and the direct access coalition work together to try to come up with a compromise to continue to allow direct access.
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So all this means is that the prohibition still has not been implemented and there currently is nothing before the commission to implement.
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Sure would have been nice if the commission had passed it, though.
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Also, did I tell you that i'm in a meeting all day tomorrow in houston and therefore can't do an update call with edward's?
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i can, however, do it on best,
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i won't be in class tonite.
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i'm open, too, but to tell you the truth, mark, the thought of comparing us and european accounting standards/practices makes me break out in a rash.
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if there's any way that we can focus on strategy, valuation, or other sorts of financial analyses that we've focused on in the course, that would be preferable from my perspective.
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best, Jeff
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Wow.
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Have a great trip.
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I'll anxiously await your return.
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Best, Jeff
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Thank you.
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This, my friends, sounds ominous.....
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FYI.
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Appears that the Davis administration has thrown down the gauntlet, looking to position itself in a way that will allow it to blame the FERC/Bush administration for California's electricity crisis, unless FERC agrees to the ISO's price cap plan.
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Best, Jeff
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Katie: Thanks so much for the info.
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Do you have the call-in number for the ISO call today?
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Best, Jeff
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What's the status of the DG bill?
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As I recall, Burton amended the bill in a way that explicitly prohibit diesel DG units from helping California avoid rolling black outs this summer.
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I believe the exclusion was made on grounds that running diesel would be too environmentally damaging?
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Could you provide a brief update?
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Is there anything in the bills that addresses the restrictions on the number of hours that these units are permitted to run?
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Thanks very much.
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Best, Jeff
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yes, monday works.
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FYI.
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Bill: As ususal, there's another crisis today.
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I'll be able to do the call, but we need to keep it brief.
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Apologies.
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What's the cal-in number?
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Thanks.
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Best, Jeff
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FYI.
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Should be of interest.
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Best, Jeff
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Janel & Co.: This is a group that we should try to tie into our PR efforts.
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Best, Jeff
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Could you check on this.
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