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Enron Mail |
Jeff: This info. on CA is very helpful to a project I am working on. Please forward to me additional info. you get on hedging in CA. Thanks! Hope all is well with you, Jennifer -----Original Message----- From: Landwehr, Susan M. Sent: Thursday, July 26, 2001 8:59 PM To: Thome, Jennifer Subject: FW: Utility authority to engage in derivative transactions Jennifer--info for your matrix on California -----Original Message----- From: Lawner, Leslie Sent: Thursday, July 26, 2001 8:57 AM To: Landwehr, Susan M. Subject: FW: Utility authority to engage in derivative transactions -----Original Message----- From: Dasovich, Jeff Sent: Monday, July 16, 2001 12:41 PM To: Tycholiz, Barry; Lawner, Leslie; Miller, Stephen; Cantrell, Rebecca W. Subject: Utility authority to engage in derivative transactions Barry, et al: FYI. Some initial info I got from our outside council regarding utility authority to engage in financial risk management tools. More info to follow as we get it. If you have quesitons, comments, or suggestions for additional research needed, just holler. Please forward to others who might need it. Best, Jeff ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ Electric: SCE, PG&E and SDG&E are all authorized to enter into bilateral forward transactions with non-ISO or PX parties. D.00-08-023 and D.00-09-075. These transactions are limited to contracts which must expire on or before 12-31-05. Initial contracts are subject to a blanket reasonableness test (if less than 5% above cost of non-forward cost of portfolio=deemed reasonable) but contracts after 12-31-02 will be subject to a CPUC preapproval process. Gas: PG&E authorized to use gas hedges for all purposes (D.98-12-082) but limited to contracts expiring on or beforce 12-31-02 and limited to $200 million in cost or 800 MMcfd in volume. We are looking for a similar resolution or decision for Sempra. Haven't found it yet, but we believe they have been given similar authority.
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