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Enron Mail |
Mark, Elizabeth & Christian: I thought you would find this blurb describing
an article in today's LA Times of particular interest, particularly taking into account the magnitude of the talked about rate increases by the distribution utilities. The article does, however, make the link between the size of the possible rate increases and the possibility of a voter initiative in CA which, as you know, is an issue that still is on the table with CDWR under our proposed contract. John CALIF.'S PUC CHIEF TO URGE RATE HIKE California's top energy regulator is quoted as saying she will recommend hiking electricity rates as soon as tomorrow, with consumers seeing higher utility bills in May, this morning's Los Angeles Times Reports. Dealing directly with grave projections regarding the cost and supply of power as summer approaches, Loretta Lynch, president of the California's PUC, noted the rate hikes, estimated by some sources at 20- to 50-percent, will be structured so that large energy users, including residential consumers, will pay the most. Such a structure, she hopes, will force consumers to save. "We need to move forward, and the PUC has substantial evidence [to justify a rate hike] that it didn't have 90 days ago," Lynch, appointed by Gov. Gray Davis to head the commission, is quoted as saying. Lynch is not apt to take such a step without the Democratic governor's approval. Davis has repeatedly noted his opposition to any rate hikes, but Davis spokesman Steve Maviglio declined to comment, and Lynch would not elaborate on any talks she had with Davis (Los Angeles Times, Mar. 26, San Francisco Chronicle, Reuters, Dow Jones Newswires, Mar. 24 http://www.latimes.com ). "This e-mail, including attachments, contains information that is confidential and it may be protected by the attorney/client or other privileges. This e-mail, including attachments, constitutes non-public information intended to be conveyed only to the designated recipient(s). If you are not an intended recipient, please delete this e-mail, including attachments and notify me by return mail, e-mail or by phone at 212 424-8125. The unauthorized use, dissemination, distribution or reproduction of the e-mail, including attachments, is prohibited and may be unlawful. John Klauberg LeBoeuf, Lamb, Greene & MacRae, L.L.P. 212 424-8125 jklauber@llgm.com
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