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Thanks a million.
dev33
I'll likely be getting back to you.
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Best, Jeff
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Greetings: Sorry to bother you with this, but please see notes below.
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I need to find out who I can contact to get information on our noncore accounts.
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I'm assuming that you might know whom that would be.
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Thanks a million.
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Hope all's well.
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Best, Jeff
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I'm assuming that since it's the middle of March, that it's only fair that he should get paid for services rendered in January, but maybe I'm missing something.
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Thanks very much for your help.
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Best, Jeff
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Great points.
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Teece---and the lion's share of the folks on the participants list---are advocates of a minimalist role for government, particularly where markets are a clear and preferably option, as in the case of electricity.
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That said, I think we're going to have to make a fundamental decision about what the goal of this "study" would be, which will determine, to a large degree, whether we choose to pursue it.
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I'll throw out for comment the notion that the study should be designed to serve one purpose: to influence the policy decision currently under debate "To de-regulate or not."
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As such, I wouldn't see issues like "PJM or APX" or "competitive default supplier or not," or "divest generation with vesting contracts or retain the assets" being the focus.
dev33
That debate over critically important implementation details, would seem to come in "Round 2," once the initial debate over "deregulate or not" is won.
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To try to do both, i.e., resolve in the broad policy issue AND make the case for the specific, "right" implementation plan, would arguably bog the study down, perhaps interminably.
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And it seems that time is of the essence in the current environment.
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In addition, unless the fundamental policy issue is won--and won rather quickly--debating implementation may be moot.
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Of course, it will be impossible to avoid some level of dicussion on "how to do it," but that would not be the emphasis.
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In sum, I'd suggest for comment that it only makes sense to proceed---particularly since time is of the essence---if we focus on the high level policy level question of "to deregulate or not," and address implementation in a second, or follow up, study.
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I think we should try to make a call on this swiftly, since the "go/no go" decision would seem to flow from resolution of this issue.
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Best, Jeff
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Do we know what case this request has been made in and if we're one of the 5 listed?
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Thanks.
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Best, Jeff
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State's Power Purchases Costlier Than Projected Tab is $6 million a day over Davis' requests Lynda Gledhill, Chronicle Sacramento Bureau Friday, March 16, 2001 ,2001 San Francisco Chronicle Sacramento -- California has spent about $6 million more a day buying electrical power than originally projected, according to a confidential document obtained yesterday by The Chronicle.
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State power buyers spent $2.7 billion between Jan. 17 and March 11, averaging $49 million a day.
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That amounts to about $6 million a day more than lawmakers figured using Gov. Gray Davis' appropriations requests.
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The confidential document was prepared by the Department of Water Resources, which purchases power on behalf of the state.
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It was handed to a group of lawmakers in a subcommittee hearing Wednesday by Water Resources Director Tom To the public, the document presents the first day-by-day look at how much California is spending on power purchases.
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Although the document shows more money being spent than originally believed, it didn't startle any of the handful of senators and Assembly members who saw it.
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"I don't think it was a surprise," said Assemblyman Dick Dickerson, R- Redding.
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Although the state is supposed to recoup the money spent on electricity, analysts and lawmakers say the open spigot on the state's treasury could jeopardize the state budget and fiscal well-being in the short and long term.
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For example, the state's power spending could jeopardize new education programs and transportation projects.
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The nonpartisan Legislative Analyst warned last month that lawmakers shouldn't count on all the new projects in Davis' proposed budget.
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Also, California has already been placed on a watch list by several credit rating firms, because of the deep debt that could be incurred in helping the utilities become financially stable.
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The watch list typically precedes a credit rating drop, which would cause the state's interest on bonds and loans to rise.
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"This (power purchasing) has a dampening effect," said Jean Ross, executive director of the California Budget Project, an independent policy group that tracks state spending.
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"Nobody knows where the economy is going, and how the energy crisis will affect it, so no one will know what the revenues will look like in the future."
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The biggest day of power buying happened on Feb. 16 when the state spent nearly $81 million for electricity, or $435 per megawatt hour.
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The smallest day was March 10 when the state buyers spent $40 million, or $219 per megawatt hour.
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Michael Worm, an analyst with the investment firm Gerald Klauer Mattison & Co., said what the state paid was in line with current energy prices.
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"That's where energy prices more or less have been for quite some time," he said.
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"Of course, they are dramatically higher than they used to be."
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The governor's office has refused to release information on how much the state has spent, said Steve Maviglio, Davis' spokesman.
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Maviglio said if generators found out how much the state spent the day before, they could force up the price the next day.
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But Assemblyman Tony Strickland, R-Thousand Oaks, said the public had a right to know how its money way being spent.
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"People need to know exactly what it is costing to keep the lights on," he said.
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"We want to know the whole story -- not just pieces."
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Strickland, along with media organizations including The Chronicle, have filed public records act requests to obtain information on how much the state has spent, along with the details of long-term power contracts signed by Davis.
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The original bill that authorized the state to purchase power appropriated only $500 million, but allowed the governor to use up to $10 billion if needed for power purchases by notifying lawmakers.
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The governor's office has sent five letters since Feb. 5 to lawmakers notifying them that additional money was needed.
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Based on these letters, which in total have requested an additional $2.5 billion, the news media and lawmakers estimated that the state was spending $43 million a day -- $6 million less than the actual costs shown on the Water Resources document.
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Since the state began purchasing electricity, the health of its budget has become dependent on a variety of things to come, making it as fragile as a house of cards.
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The money spent on power is taken from the state's general fund and is supposed to be returned through the issuance of state bonds.
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The bonds will be paid for with a portion of the rates that utility customers pay every month.
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Tell Us What You Think Can you save 20 percent on your energy usage?
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Gov. Gray Davis is offering rebates for Californians who save on power starting in June, and if you've got a strategy for conserving, The Chronicle wants to hear it.
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Contact the Energy Desk, San Francisco Chronicle, 901 Mission St., San Francisco, CA 94103; or e- mail energysaver@sfchronicle.com.
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E-mail Lynda Gledhill at lgledhill@sfchronicle.com.
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Paying for Power These charts show what the state spent for electricity on the spot market and the average price paid.
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For the time frame of Jan. 17 through Feb. 14, only periodic totals and averages were given.
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Period Amount spent through Jan. 18 $13,595,121 Chronicle Graphic
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now that's funny.
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hey, we're going to tahoe.
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maybe if things work out, we can stop by and say hi on sunday on the way back, if we get back early enough.
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Seems like something we'd want to wallpaper the halls of the state capitol with.
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Best, Jeff
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that was from yesterday's call-----he can get down right surreal on the calls sometime.
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just an observation.
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surreally yours,
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Figured you had it in hand.
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boy, you sure know how to entice!
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Apologies.
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Didn't have access to my computer and didn't see the note.
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Steffes filled me in. If there's anything you need, don't hesitate.
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Best, Jeff
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FYI.
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FYI.
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Info regarding conversations between Ken Lay and Bob Glynn (CEO of PG&E Corp) regarding payment by PG&E to us of the negative CTC credit.
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Best, Jeff
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Hi Dale: Please call me to discuss your question.
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(415.782.7822) Customers could try to "bypass" the utility, but until Dec. '95 (PUC final policy decision) and AB 1890, it was against the law to have direct access, so you may be misinterpreting the yellow book just a bit.
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There were other forms of "bypass" at that time, but DA as we think of it today was illegal.
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Give me a call and we can try to clear things up (specific references to where in the YB you're getting this impression will be helpful).
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Glad to talk to you on Friday and be happy to talk more if you have any other questions, or desire any follow up.
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Best, Jeff
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Agreed.
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thank you very much for dinner last nite.
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really nice of you.
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it was delicious and sorry that we were a little obnoxious--that's what 5 hours in the car will do to you.
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great to see you guys.
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really something about eldon's solo.
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would have liked to see it.
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plz make sure that he tells about it next time.
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and don't worry, we'll get the luggage thing worked out.
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why don't you and i do the planning on that one.
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