RE: Rate Agreement between DWR and the PUC Regarding

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X-From: Jeff Dasovich
X-To: Christopher F Calger
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I'm trying to meet a deadline at the moment, but are you free this
afternoon? I have some information that can help a lot in that analysis.

Best,
Jeff

Christopher F Calger/ENRON@enronXgate
05/16/2001 12:19 PM

To: Jeff Dasovich/NA/Enron@Enron
cc: Tracy Ngo/ENRON@enronXgate
Subject: RE: Rate Agreement between DWR and the PUC Regarding
Creditworthiness

Thanks Jeff. On a related note, we are trying to put together a financial
"headroom" forecast for DWR/State of California that goes out a few years and
shows:

Rate Revenues
less: Utility gen costs
QF costs
DWR PPA's
DWR spot purchases
Margin
Total Deficit

Bond Issue
Bond Principal & Interest

Would you know how to get something like that?

Regards,

Chris

-----Original Message-----
From: Dasovich, Jeff
Sent: Wednesday, May 16, 2001 10:12 AM
To: Calger, Christopher F.; Comnes, Alan; Shapiro, Richard; skean@enron.com;
Steffes, James; Yoder, Christian; Kaufman, Paul
Subject: Rate Agreement between DWR and the PUC Regarding Creditworthiness
Sensitivity: Confidential

FYI: Just got off the phone with Michael Hoffman, who's one of two key
outside financial advisors to Davis on the electricity crisis. The
administration is trying to get a legally binding agreement between the PUC
and DWR to ensure that the PUC doesn't muck around with the money (via
utility rates) DWR requires to be creditworthy. They were shooting for this
Friday to have a draft of the document read for folks to review, but it now
looks like it won't get resolved until (at the earliest) next week----seems
that the one PUC lawyer who can actually do the work is on vacation. Go
figure.

Best,
Jeff