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Enron Mail |
onerous terms
Cc: rick.buy@enron.com Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit Bcc: rick.buy@enron.com X-From: Hachen, James </O=ENRON/OU=NA/CN=RECIPIENTS/CN=JHACHEN< X-To: Gorte, David </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Dgorte< X-cc: Buy, Rick </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Rbuy< X-bcc: X-Folder: \rbuy\Inbox X-Origin: BUY-R X-FileName: richard buy 1-30-02..pst Dave, this proposed ruling by the CPUC drastically reduces the value of the California power commodity contracts. There is a meeting at 11am in EB911 to discuss. I'll let you know how it works out. Jay -----Original Message----- From: Ralston, Andrew Sent: Tuesday, January 29, 2002 10:10 AM To: Hachen, James Subject: FW: Draft Decision on Retroactive Suspension of Direct Access--Judge Proposes Retroactive Suspension Date: July 1,2002, and other onerous terms -----Original Message----- From: Maynard, Michelle Sent: Monday, January 28, 2002 4:29 PM To: Ralston, Andrew Subject: FW: Draft Decision on Retroactive Suspension of Direct Access--Judge Proposes Retroactive Suspension Date: July 1,2002, and other onerous terms -----Original Message----- From: Smith, Mike D. Sent: Monday, January 28, 2002 3:39 PM To: 'jklauber@llgm.com'; Maynard, Michelle; Keller, James E.; Darmitzel, Paul; Higgason, Kelly; Essandoh, Edwin; Freed, Richard Subject: FW: Draft Decision on Retroactive Suspension of Direct Access--Judge Proposes Retroactive Suspension Date: July 1,2002, and other onerous terms UGH -----Original Message----- From: Dasovich, Jeff Sent: Monday, January 28, 2002 3:36 PM To: Blachman, Jeremy; Delainey, David W.; Steffes, James D.; Tribolet, Michael; Mellencamp, Lisa; Leff, Dan; Schwarz, Angela; Frazier, Lamar; Hughes, Evan; Huddleson, Diann; Dietrich, Janet; Belden, Tim; Comnes, Alan; Calger, Christopher F.; Parquet, David; Sharp, Vicki; Smith, Mike D. Subject: FW: Draft Decision on Retroactive Suspension of Direct Access--Judge Proposes Retroactive Suspension Date: July 1,2002, and other onerous terms FYI. Please forward to others who need this info. As the market expected, the judge issued what arguably is a worst case scenario. Recall that this is a judge's recommendation (working with Kommissioner Karl Wood). The full commission will vote on it and two other commissioners will have to agree wtih Karl for the recommendation to stick (i.e., it takes 3 votes). Somewhat surprising, the Commission is giving folks till February 1 to comment and have scheduled the decision for a vote on February 7th. I assume that the market will object fairly strongly to this schedule. We'll be checking with other market participants to see how folks intend to attack the decision. If you have questions, let me know. Best, Jeff -----Original Message----- From: JBennett [mailto:JBennett@GMSSR.com] Sent: Monday, January 28, 2002 3:22 PM To: scofer@llgm.com; jklauber@llgm.com; Steffes, James D.; Jeff Dasovich (E-mail) Subject: Draft Decision on Retroactive Suspension of Direct Access On January 25, 2002, ALJ Barnett issued a draft decision establishing a retroactive suspension date for direct access, and strictly limiting the provisions in contracts executed prior to the suspension date. Specifically, the draft order provides the following: 1. DA contracts executed after June 30, 2001 are suspended until DWR no longer supplies power under AB 1X. 2. DA contracts executed prior to July 1, 2001 "pursuant to which electricity flowed prior to July 1, 2001", are not suspended, but are subject to certain restrictions. 3. The following are the restrictions placed on direct access contracts executed prior to July 1, 2001: a. No customer is allowed to switch from one ESP to another after June 30, 2001. b. No customer is allowed to add a new location to its direct access contract after June 30, 2001. c. No direct access contract may be extended beyond its initial termination date as fixed prior to July 1, 2001. d. Direct access contracts may not be assigned after June 30, 2001. e. A customer who had direct access prior to July 1, 2001, but who became a bundled customer cannot return to direct access after June 30, 2001. The UDCs are given ninety days from the date of the order to terminate all direct access contracts not in conformity with the order and return those customers to bundled service. Comments on the draft decision must be filed by February 1 (no reply comments allowed). The Commission will vote on the decision at its February 7th meeting. If you have any questions, please contact me. Jeanne Bennett
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