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Sue Mara Enron Corp. Tel: (415) 782-7802 Fax:(415) 782-7854 ----- Forwarded by Susan J Mara/NA/Enron on 04/09/2001 04:09 PM ----- =09Jean Munoz <jmunoz@mcnallytemple.com< =0904/09/2001 04:48 PM =09=09=20 =09=09 To: "'Andy Brown (E-mail)'" <ABB@eslawfirm.com<, "'B Brown Andy (E-m= ail)'"=20 <andybrwn@earthlink.net<, "'Baker Carolyn (E-mail)'"=20 <cabaker@duke-energy.com<, "'Bob Escalante (E-mail)'"=20 <rescalante@riobravo-gm.com<, "'Bob Weisenmiller (E-mail)'"=20 <rbw@mrwassoc.com<, "'Curtis Kebler (E-mail)'"=20 <curtis_l_kebler@reliantenergy.com<, "Dean. Nistetter (E-mail)"=20 <Dean.Nistetter@dynegy.com<, "'Douglas Kerner (E-mail)'" <DKK@eslawfirm.com= <,=20 "'Greg Blue (E-mail)'" <gtbl@dynegy.com<, "'Jan Smutny-Jones (E-mail)'"=20 <smutny@iepa.com<, "'Jeff Dasovich (E-mail)'" <Jeff.Dasovich@enron.com<,=20 "'Joe Ronan (E-mail)'" <joer@calpine.com<, "'John Larrea (E-mail)'"=20 <john.g.larrea@williams.com<, "'John Stout (E-mail)'"=20 <John_H_Stout@reliantenergy.com<, "'Julee Malinowski-Ball (E-mail)'"=20 <jmball@ns.net<, "'Kassandra Gough (E-mail)'" <kgough@calpine.com<, "'kent= =20 Palmerton (E-mail)'" <kent.palmerton@williams.com<, "'Lynn Lednicky=20 (E-mail)'" <lale@dynegy.com<, "Marie Moretti (E-mail 2)"=20 <mmoretti@mccabeandcompany.net<, "'Marty Wilson (E-mail)'"=20 <mwilson@pstrategies.com<, "'McNally Ray (E-mail)'"=20 <rmcnally@mcnallytemple.com<, "''Nam Nguyen' (E-mail)'"=20 <nam.nguyen@powersrc.com<, "'Norton Kelli (E-mail)'"=20 <knorton@mcnallytemple.com<, "'Paula Hall-Collins (E-mail)'"=20 <paula.hall-collins@williams.com<, "'Pigott Jack (E-mail)'"=20 <jackp@calpine.com<, "'Richard Hyde (E-mail)'" <rwhyde@duke-energy.com<,=20 "'Roger Pelote (E-mail)'" <roger.pelote@williams.com<, "'Stephanie-Newell= =20 (E-mail)'" <stephanie-newell@reliantenergy.com<, "'Sue Mara (E-mail)'"=20 <smara@enron.com<, "'Tom Ross (E-mail)'" <tross@mcnallytemple.com<, "Tom=20 Williams (E-mail)" <tcwillia@duke-energy.com<, "'Alex Sugaoka (E-mail)'"=20 <alex.sugaoka@uaecorp.com<, "'Bill Carlson (E-mail)'"=20 <william_carlson@wastemanagement.com<, "'Bill Woods (E-mail)'"=20 <billw@calpine.com<, "'Bob Ellery (E-mail)'" <bellery@spi-ind.com<, "'Bob= =20 Gates (E-mail)'" <bob.gates@enron.com<, "'Cody Carter (E-mail)'"=20 <cody.carter@williams.com<, "'Curt Hatton (E-mail)'"=20 <Curt.Hatton@gen.pge.com<, "'David Parquet'" <david.parquet@enron.com<,=20 "'Dean Gosselin (E-mail)'" <dean_gosselin@fpl.com<, "'Doug Fernley (E-mail)= '"=20 <fernley.doug@epenergy.com<, "'Duane Nelsen (E-mail)'"=20 <dnelsen@gwfpower.com<, "'Ed Tomeo (E-mail)'" <ed.tomeo@uaecorp.com<,=20 "'Eileen Koch (E-mail)'" <eileenk@calpine.com<, "'Eric Eisenman (E-mail)'"= =20 <eric.eisenman@gen.pge.com<, "'Frank DeRosa (E-mail)'"=20 <frank.derosa@gen.pge.com<, "Frazier Blaylock (E-mail)"=20 <frazier_blaylock@ogden-energy.com<, "'Hap Boyd (E-mail)'"=20 <Hap_Boyd@enron.com<, "'Hawks Jack (E-mail)'" <jack.hawks@gen.pge.com<, "'J= im=20 Willey (E-mail)'" <elliottsa@earthlink.net<, "'Joe Greco (E-mail)'"=20 <jgreco@caithnessenergy.com<, "'Jonathan Weisgall (E-mail)'"=20 <jweisgall@aol.com<, "'Kate Castillo (E-mail)'" <CCastillo@riobravo-gm.com<= ,=20 "'Kelly Lloyd (E-mail)'" <kellyl@enxco.com<, "'Ken Hoffman (E-mail)'"=20 <khoffman@caithnessenergy.com<, "'Kent Fickett (E-mail)'"=20 <kfickett@usgen.com<, "'Lynn Lednicky (E-mail)'"=20 <lynn.a.lednicky@dynegy.com<, "'Marty McFadden (E-mail)'"=20 <marty_mcfadden@ogden-energy.com<, "'Paula Soos'"=20 <paula_soos@ogden-energy.com<, "'Randy Hickok (E-mail)'"=20 <rjhickok@duke-energy.com<, "Rick S. Koebbe (E-mail)"=20 <rskoebbe@powerworksinc.com<, "'Rob Lamkin (E-mail)'"=20 <rllamkin@seiworldwide.com<, "'Ross Ain (E-mail)'" <ain@worldnet.att.net<,= =20 "'Steve Iliff'" <siliff@riobravo-gm.com<, "'Steve Ponder (E-mail)'"=20 <steve_ponder@fpl.com<, "'Tony Wetzel (E-mail)'" <twetzel@thermoecotek.com<= ,=20 "'William Hall (E-mail)'" <wfhall2@duke-energy.com<,=20 <trusso@mcnallytemple.com<, <sadlersa@earthlink.net<, <mstultz@epsa.org<,= =20 <rtemple@mcnallytemple.com<, <tracy.fairchild@edelman.com<,=20 <megan.beiser@edelman.com<, <deborah.fiorito@dynegy.com<, <lchurch@epsa.org= <,=20 Katie Kaplan <kaplan@iepa.com<, <tcwillia@duke-energy.com<,=20 <rwhyde@duke-energy.com<, <tmcmorrow@manatt.com< =09=09 cc:=20 =09=09 Subject: Governor to announce deal with Edison The Governor is currently holding a press conference to announce deal with= =20 Edison. We will keep you posted with details. IEP will be responding. Thanks, Jean --=20 Jean Munoz McNally Temple Associates 916-447-8186 916-447-6326 (fx) ________________ Calif Gov. To Announce Deal With SoCal Ed-Spokesman =20 Updated: Monday, April 9, 2001 05:37 PM=01;ET =20 =01; NEW YORK (Dow Jones)--California Gov. Gray Davis will announce a final deal= =20 with Edison International (EIX, news, msgs) unit Southern California Edison= =20 to buy the utility's power lines, Davis' spokesman said Monday afternoon.= =20 Monday's deal will include four elements of Davis' speech delivered live=20 statewide Thursday, said Davis spokesman Steve Maviglio.=20 Davis spoke about an alternative rate hike plan Thursday to the one ordered= =20 by state regulators two weeks ago. Although Davis' rate increase is lower= =20 than the overal 27% increase ordered by the California Public Utilities=20 Commission, the governor's plan allows the utility to collect a portion of= =20 the rate increase that will be used to restructure $5 billion in=20 undercollected power costs.=20 Davis said in his five-minute statewide address Thursday that if the state= =20 were to buy SoCal Ed's transmission lines, the utility would have to agree = to=20 drop its federal lawsuit against the PUC, where it sought to recoup the=20 billions of dollars in undercollected power costs from ratepayers retroacti= ve=20 to August 2000, and sell the state power from its hydroelectric plants at= =20 cost for 10 years.=20 Davis announced an agreement in principle with SoCal Ed seven weeks ago to= =20 buy the utility's transmission lines for $2.76 billion and the two have=20 negotiated during that time to reach a final agreement.=20 A spokesman at the utility would not comment.=20 A day after Davis' five-minute address, PG&E Corp. (PCG, news, msgs) Pacifi= c=20 Gas & Electric filed for Chapter 11 bankruptcy protection because=20 negotiations with the state over a similar deal were "going nowhere."=20 Harvey Rosenfield, executive director of consumer group Foundation for=20 Taxpayer and Consumer Rights in Santa Monica, said Davis' announcement is a= =20 massive "bailout" for SoCal Ed.=20 Rosenfield said he will push for a ballot initiative next year to undo the= =20 state's six-year-old deregulation debacle.=20 -By Jason Leopold; Dow Jones Newswires; 201-938-5905;=20 jason.leopold@dowjonews.com=20 Monday April 9, 6:06 pm Eastern Time Calif. Gov. Davis, SoCal Edison to announce deal (Adds background, LOS ANGELES, April 9 (Reuters) - California Governor Gray Davis and Souther= n=20 California Edison have reached an agreement after a weekend of harried talk= s=20 aimed at a deal that would provide state money to the cash-strapped utility= =20 in exchange for its transmission lines, a spokesman for the governor said. ADVERTISEMENT Davis and John Bryson, the chairman of Southern California Edison parent=20 Edison International (NYSE:EIX - news), scheduled a news conference from 3= =20 p.m. PDT (6 p.n. EDT) in Los Angeles to discuss the agreement, the governor= 's=20 office said. No further details were immediately available. The announcement came as bankruptcy proceedings began for the state's large= st=20 utility, Pacific Gas & Electric, a unit of PG&E Corp. (NYSE:PCG - news),=20 which on Friday sought protection for creditors after declaring that it had= =20 been unable to reach an accord with Davis. Shares in Edison International closed up 8 percent on Monday on expectation= s=20 that the two sides were close to reaching a deal under which the state woul= d=20 reportedly pay billions for the company's transmission lines. Southern California Edison power transmission grid is a 12,000-mile (19,200= =20 km) web of high voltage lines covering much of the southern region of the= =20 state. The lines carry electricity from power plants to substations, where the=20 voltage is reduced to a level that can be moved safely into neighborhood=20 distribution lines to homes and businesses. The utility's 88,000-miles (105,600 km) of distribution lines serve about 1= 1=20 million Southern Californians. The utility has carried the lines at a book value of $1.2 billion. Under a= =20 the terms of a preliminary deal, the state had proposed buying the lines fo= r=20 $2.76 billion, or 2.3 times the book value.
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