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Best, Mike Kahn's best buddy | dev33 |
Environmental issues and the permitting will be the biggest (and could be very big) obstacles---particularly given the Santa Barbara location (e.g., Channel Islands, etc.). | dev33 |
Might be a good idea to have GA look into that side of things. | dev33 |
If we feel that can be overcome, then the next big deal will be getting transportation agreements with SoCalGas. | dev33 |
Finally, the issue you raised Steve---will Davis want to be the counterparty?---will loom somewhat large. | dev33 |
Overall sounds like an exciting idea/opportunity. | dev33 |
Best, Jeff | dev33 |
That answers it. | dev33 |
Thanks very much. | dev33 |
Best, Jeff | dev33 |
Court Gives Green Light to Green Generator To Suspend Edison Contract, Sell Electricity Elsewhere Business Wire (Copyright , 2001, Business Wire) today that a geothermal energy supplier in the Imperial Valley can temporarily sell its electricity on the open market despite its long-term contracts with Southern California Edison, because Edison has breached the contract by failing to pay for any output since Nov. 1. | dev33 |
Cal Energy Operating Corp. operates a complex of geothermal plants near the Salton Sea. | dev33 |
The plants filed suit Feb. 20 in Imperial County Superior Court seeking back payment from Edison and authorization to suspend their contracts with Edison and sell power elsewhere in California during such time Edison is unable to pay for power demand. | dev33 |
David L. Sokol, chairman of Cal Energy, said, "We applaud this short-term solution that will provide us with a revenue lifeline and keep our clean, renewable power flowing to Californians. It is unfortunate that it took court action to provide us some relief from an intolerable situation." | dev33 |
Sokol noted that the ruling did nothing to assure that the plants collect approximately $140 million Edison owes them for power they have produced since Nov 1. | dev33 |
The geothermal plants will continue to pursue legal and legislative remedies to receive back payment, he said. | dev33 |
"That debt will continue to place a great strain on our operation." | dev33 |
He added that Edison has continued to collect tens of millions daily from ratepayers and has amassed approximately $2 billion in cash. | dev33 |
On the open market, the geothermal plants will be able to receive on the spot market higher prices than renewable generators agreed to accept in negotiations with the state, Edison and PG&E. | dev33 |
That lower price had been incorporated in Senate Bill 47X, which stalled in the state legislature after Edison withdrew its support, and has effectively been incorporated in the California Public Utility Commission's proposed order. | dev33 |
California taxpayers will pay the difference, because the state is buying electricity on the open market on behalf of Edison and PG&E. | dev33 |
"It is unfortunate that taxpayers will now be paying more for our electricity," Sokol said. | dev33 |
"That is the result of inaction by the state and bad faith by Edison. We negotiated with the full blessing and knowledge of the governor and the legislature to arrive at long-term pricing that would assure reliable supply and save taxpayers billions. This pricing for our clean, renewable energy was less than the state is paying out-of-state fossil-fuel energy providers in long-term contracts, and less than half what we are allowed under federal law." | dev33 |
Sokol added that he was encouraged by the governor's March 20 announcement proposing legislation and action by the California Public Utility Commission that would require Edison and PG&E to begin paying current bills for electricity received from qualifying facilities such as CalEnergy. | dev33 |
But, Sokol cautioned, "While we are hopeful that this legislative and regulatory action can move forward quickly, there are many details to be worked out in the governor's proposal. Even with quick action, there is a serious question whether Edison is willing to pay any of its current bills from qualifying facilities." | dev33 |
He noted that, like today's court ruling, the governor's proposal provides no plan or schedule to require Edison to pay the approximately $140 million Edison owes for power CalEnergy has delivered to date. | dev33 |
CalEnergy's geothermal complex employs about 200 workers and produces a total of 268 megawatts -- enough to supply 268,000 homes. | dev33 |
Geothermal plants and other generation from renewable sources provide about 12 percent of California's electricity, enough for 5 million homes. | dev33 |
Geothermal plants produce environmentally friendly electricity from wells that tap superheated water 5,000 to 10,000 feet underground. | dev33 |
Magma rising in fissures in the earth's crust heats the water to 500-700 degrees Fahrenheit. | dev33 |
The generating plants convert the water to "live" steam, the pressure of which turns turbines to produce electricity. | dev33 |
The plants then return the slightly cooled water to the subterranean reservoir for reheating as a renewable resource. | dev33 |
CalEnergy is one of 10 members of the Renewable Energy Creditors Committee, a group of green power suppliers who formed the committee on Feb. 15 to explore options to collect back payments from Edison. | dev33 |
Together, the group is owed more than $300 million by Edison. | dev33 |
Note to Editors: David Sokol will discuss today's ruling in a media teleconference at 2:30 p.m. | dev33 |
PST today, March 22. | dev33 |
Call 800/810-0924 and enter code 509085. | dev33 |
Identify the CalEnergy conference. | dev33 |
Yes, it's technically true, but it doesn't seem relevant. | dev33 |
It's a technicality. | dev33 |
That is, if at the end of the contract, UC/CSU goes to another provider, the rules would require Enron to "de-DASR," after which the new provider would submit the new DASR to switch the customer over. | dev33 |
The utility stands in the middle of all this. | dev33 |
I don't think this equates to what UC/CSU is claiming the problem is. | dev33 |
Might be viewed as a bit "cute" by the judge. | dev33 |
Also, the legislation "fixing" the prohibition passed our of policy committee today in Sacramento and is moving through the Legislature. | dev33 |
Best, Jeff | dev33 |
This is yet another, tangible case of why price caps don't and can't help; they can and will only make matters worse. | dev33 |
Caps are a policy chainsaw when a scalpel is needed. | dev33 |
The result of the caps being imposed on QFs by Davis and the Legislature will be shut downs and bankruptcy, which will reduce supply and decrease reliability----the exact opposite of what the state needs to be doing. | dev33 |
FYI: I listened in to Sokol's conference call yesterday re: court case freeing CalEnergy from the QF contract. | dev33 |
Sokol blasted Edison over and over (e.g., accumulated war chest of over $2 billion in cash). | dev33 |
Sokol said that, at least for the time being, this lessens the need for CalEnergy specifically to force an involuntary. | dev33 |
Be interesting to see if other QFs take similar tack. | dev33 |
Sokol also said that CalEnergy has sold the power to El Paso---lot's of press questions about price and where the power's headed (i.e., in our out of state). | dev33 |
He said he expects to get a "market price" from El Paso and that if the "prices are higher out of state, well......." | dev33 |
Best, Jeff | dev33 |
When you going to stop showering me with gifts? | dev33 |
To: Jeff Dasovich/NA/Enron@Enron, Paul Kaufman/PDX/ECT@ECT cc: Subject: California Energy Summit -- March 30 I am not interested. | dev33 |
I sent to Mark Palmer, who suggested one of you guys.Happy Birthday! | dev33 |
This sort of summary info is incredibly useful. | dev33 |
Where's it coming from and can we get it daily? | dev33 |
Best, Jeff | dev33 |
You and Eldon want to stay at my apartment on Sunday night? | dev33 |
I thought we rented beach towels there. | dev33 |
bringing coffee and stove top expresso maker. | dev33 |
didn't he invent personality, too? | dev33 |
Greetings Jean. | dev33 |
How might one listen in. Are we having fun yet? | dev33 |
Best, Jeff To: Katie Kaplan , "'Andy Brown (E-mail)'" (E-mail)'" , "Carol H Hudson (E-mail)" cc: Subject: IEP Press Call Friday, 1pm PST IEP will conduct a press call Friday March 23 @ 1pm. Feel free to listen iThanks, Jean Jean Munoz McNally Temple Associates, Inc. Contact: Jean Munoz FOR IMMEDIATE RELEASE WEEKLY POWER UPDATE SACRAMENTO . Jan Smutny-Jones, Executive Director of the Independent EneProducers Association, will brief members of the media on California?s rapidly changing electric market during a teleconference Friday, March 23 aWhat: Press Availability Teleconference When: Friday, March 23, 2001 Call In #: 1-800-374-2393 Conference I.D: Independent Energy Producers (IEP) Who: Jan Smutny-Jones, Executive Director of the Independent EnergyProducers Association | dev33 |
Lamentably, I'm out of the country next week. | dev33 |
Given the B.S. | dev33 |
that continuein Sacramento, I suspect that these legislators are likely to be extremelycranky at this event (assuming they're not forced to cancel due to the continued inability to find an answer). | dev33 |
Under the circumstances, I wouldsuggest that it's likely not the best forum for us. | dev33 |
Might be best to let the legislators slow roast a bit. | dev33 |
If we feel compelled to participate, I suggest Steve Kean. | dev33 |
Best, Jeff To: David Parquet/SF/ECT@ECT cc: Jeff Dasovich Subject: Re: California Energy Summit -- March 30 I always knew you were kind and wise. | dev33 |
Now I know you're generous too!! | dev33 |
I'm out of town next week (I think Jeff is also). | dev33 |
We need to start a pool on this. | dev33 |
Steffes is already out, since by his forecast, a West-wide cap should have been in place about 12 months ago. | dev33 |
Best, Jeff | dev33 |
Great. | dev33 |
Hey, is there a call-in # for the press call? | dev33 |
The call in number is 1-800-374-2393 ... | dev33 |
pass code: Independent Energy Producers | dev33 |
I spoke yesterday with President Lynch's gas advisor and the PUC staffer who first got in touch with us regarding inquiries from our customer regarding whether we were returning customers to the LDCs. | dev33 |
I described our activities generally, and explained that the originial inquiry from our customer stemmed from a mix-up (on our part) that has since been cleared up. | dev33 |
Both seemed satisfied, appreciated the call and the information and will get back to me regarding whether we'll need to submit a formal response to President Lynch's letter. | dev33 |
(I said that our preference was not to respond formally, but would be happy to do so.) I asked them to contact me directly should they receive any other inquiries from our customers. | dev33 |
Thanks to all for the help in responding. | dev33 |
Please keep me in the loop on our marketing activities, etc. If I hear anything about customers calling the PUC, I'll let you know, and I'll let you know what I hear back from Lynch's office regarding whether we need to respond formally. | dev33 |
Best, Jeff | dev33 |
John: Please keep this confidential, but as you can see, this is not at all what I'm looking for. | dev33 |
I need what we discussed yesterday. | dev33 |
Thanks, Jeff | dev33 |
dear arse: i can move it to the guest room closet for the weekend and plan to take it to mendocino soon as we return from mexico. | dev33 |
To big to fit in the closet? | dev33 |
she needs to give the answer. | dev33 |
What time will the daily team leads call be and when's it gonna start? | dev33 |
Sorry, been away. | dev33 |
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