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Davis has said he is confident the utilities and the state can pay their bills without further rate increases.
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In the meantime, the ISO is counting on conservation to avoid more rolling blackouts.
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Dorinson estimated that conservation accounted for about 900 megawatts in savings during Tuesday's peak usage.
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"That probably was the difference today in helping us avoid any rolling blackouts late into the evening," Dorinson said.
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Tuesday's outages began at 9:30 a.m. and continued in 90-minute waves until about 2 p.m., when the ISO lifted its blackout order.
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They were blamed for at least one serious traffic accident.
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The blackouts were caused by a combination of problems, including unseasonably warm weather, reduced electricity imports from the Pacific Northwest, numerous power plants being shut down for repairs and the loss of power from alternative generators.
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Mike: Here are my comments.
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Apologies for the fact that they are quick and dirty.
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All Enron's public statements that I have read, including, I think, statements made to financial analysts, state that our exposure in California is not "material."
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Dennis' declaration says that the situation in California has been a "financial disaster," that "Enron has lost over $300 million," and that "Enron stands to lose millions more."
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The losses are described as "huge."
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Perhaps this is information that has since been communicated to the market, but I'm not aware of it.
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And if it hasn't, it could represent a significant conflict with previous statements.
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Seems prudent to run this by IR and perhaps others before releasing.
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Regarding the statements about our hedging strategy.
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It would seem prudent to run this through the organization for comment and discussion prior to making public.
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Very minor technical point--I don't think that AB 1890 was passed "unanimously."
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I think that there was 1 nay vote.
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The statement is made that "the utilities were required to sell off most of their generating capacity."
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The utilities were only required to sell off 1/2 of their fossil-fired plants (which I think at the time may have amounted to about .2-.25 of their total gen assets).
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They chose voluntarily to sell of the remainder of their fossil-fired plants.
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It is stated that stranded costs are "investments in imprudent power generation facilities."
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These investments were in fact found in the past to be prudent by the PUC.
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Would therefore not seem accurate to call them imprudent now.
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Is it now "virtually impossible to manage commodity risk" in California?
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Just wondering if judge might view the statement as overstating the situation somewhat.
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From a PR perspective, I'm wondering if we want to characterize re-sourcing UC/CSU in the following manner, "It was actually a relatively easy decision to make."
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Makes Enron sound perhaps excessively hard-nosed.
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Best, Jeff
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I have but one life to give for my industry....
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Please see my comments on Dennis' declaration---got some serious concerns.
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Can you give me a ring when you get a minute 415.782.7822?
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Thanks.
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Jeff
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I'm available.
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I have another call at 10 AM PST.
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Jeff
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when are comments due?
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I think that it's a good idea.
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The only red flag is the perception of marketers being in the same room together.
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However, from my perspective, though it's a significant concern, it's one that can be addressed.
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I would suggest running the notion by Sanders and Yoder to get their take.
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Best, Jeff
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chapter five but i can't remember the name of the case "home manufacturers"?, or some such thing.
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Have you checked the web site for the questions?
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Hi Professor: Could you let me know if you receive this?
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I've been sending you emails lately and, having gotten no response, am concerned about whether there's some sort of problem on my end, your end, or both.
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Thanks very much.
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Best, Jeff
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Class on Thursday.
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Something that we can talk about in Mexico?
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I'm here.
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Yes, we'll be talking about ROI, too.
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I'll let Karen know.
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Figure that she'll likely bring a couple of people.
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Mind if I ask Trish and John?
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I agree with Pat's suggestions.
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Thanks very much for the great work, Jeanne, particularly given the short notice.
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Best, Jeff
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yes, that's the assignment.
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i don't have the questions with me to fax (or the case).
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questions might be on the website?
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FYI.
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Just got a call from someone inside McKenzie & Co..
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Seems the good Governor has figured out that the gas industry is a problem and want to talk to me about it.
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I'm scheduled to talk to them by phone Friday at 1:30.
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I called Kari Dohn to try to find out more.
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She told me that they've figured out that the gas industry is a mess, that "McKenzie gets it," and she asked to tell it like it is.
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Seems useful to get our view across to them.
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The name of the person from McKenzie that will be on the call with the Davis folks on Friday is Daniel Poller.
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Thoughts?
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Best, Jeff
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FYI.
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We've been given permission to distribute, but no "on behalf of" the Air Force.
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Best, Jeff
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See highlighted portion.
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We should throw this back at Davis next time he points the finger.
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They must have realized that Loretta could use some PR help...
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Hi Laura: Is it possible to get a copy of the report?
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Thanks.
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Best, Jeff
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No. Yes for PG&E, no for SoCalGas.
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Agreed.
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I think that we can expect a strategy focused on saying, "we don't owe you anything, you've illegally hiked prices."
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eeks.
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i'm sorry.
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what does this mean?
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i don't quite understand the code.
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Greetings: Unfortunately, I'll be in Mexico getting the Mexican version of hoof and mouth.
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Bummer.
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Of course, the highlight of the semester for me was seeing Ms Deepika at Squaw last weekend.
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We should commit to a ski trip next year.
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Best, Jeff
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Will do.
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Do you know yet who will be on the call from your end?
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Thanks.
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Best, Jeff
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Hey, Neville.
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FYI.
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