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Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Alan Comnes X-To: Ray Alvarez, James D Steffes, Paul Kaufman, Susan J Mara, Leslie Lawner, Rebecca W Cantrell, Christi L Nicolay, Jeff Dasovich, Joe Hartsoe, Jennifer Thome, Sandra McCubbin X-cc: X-bcc: X-Folder: \Jeff_Dasovich_June2001\Notes Folders\All documents X-Origin: DASOVICH-J X-FileName: jdasovic.nsf Leslie et al. Joe Hartsoe asked me to review this. Please include me on future distributions re: CA gas issues. My suggestion is to weave in some "facts" on why prices are where they are. The easiest and most defensible way to do this would be to insert quotes from the CEC's recent analysis. Although the CEC is certainly not beyond reproach, it generally has been pretty evenkeeled on fuels matters. CEC states that fundamentals--i.e., high EG demand (due to demand growth and reduced hydro), and a lack of take away capacity--is the cause of high prices and (by implication) NOT due to capacity release. They also make statements that these fundamentals are working themselves out: increased drilling, new interstate capacity, and (assuming CPUC support) increased intrastate capacity. The attached file includes some salient quotes and page references. The CEC report is available at www.energy.ca.gov/publications. Even if you do not use for this filing, the excerpts should help for any other materials we are putting together. Alan Comnes -----Original Message----- From: Alvarez, Ray Sent: Wednesday, May 30, 2001 12:08 PM To: Comnes, Alan Subject: Draft comments on FERC's proposal to reimpose price caps on capacity release transactions FYI ---------------------- Forwarded by Ray Alvarez/NA/Enron on 05/30/2001 03:07 PM --------------------------- From: Leslie Lawner on 05/30/2001 01:52 PM CDT To: James D Steffes/NA/Enron@Enron, Jennifer Thome/NA/Enron@Enron, Rebecca W Cantrell/HOU/ECT@ECT, Donna Fulton/Corp/Enron@ENRON, Joe Hartsoe/Corp/Enron@ENRON, Ray Alvarez/NA/Enron@ENRON, Christi L Nicolay/HOU/ECT@ECT, Paul Kaufman/Enron@EnronXGate, Jeff Dasovich/NA/Enron@Enron, Susan J Mara/NA/Enron@ENRON, Sandra McCubbin/NA/Enron@Enron cc: Jane M Tholt/Enron@EnronXGate, Harry Kingerski/NA/Enron@Enron, Gloria Ogenyi/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT Subject: Draft comments on FERC's proposal to reimpose price caps on capacity release transactions Comments are due by 6/11 on the FERC order proposing to reimpose price caps on short term capacity releases into the CA markets. This is in response to the complaints filed by SDG&E and LADWP to deal with the high gas prices in CA and both parties requested this relief. The attached first draft is the ENA/EES response to the FERC request for comments. Please review and return comments, etc. to me and Becky so we can coordinate the changes. And please forward to anyone I may have left out who should have been included above. << File: pricecapcomments.doc <<
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