FERC proxy price in CA

I got a call from Dow Jones today about a price we had posted on EnronOnline
for day-ahead power at Mead for $105/MWh (the FERC proxy price is $91.87). I
talked to Tim Belden and just because an offer is posted doesn't mean that
there's been a transaction. Turns out that under our interpretation of the
FERC order, because Friday for Monday transactions exceed the 24-hour
delivery requirement, we believe they're exempt from the order. Tim said
that at the end of today, we had done five transactions above the cap, but
they decided to lower the transaction price to the proxy price so we'd reduce
any further exposure and scrutiny.