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Enron Mail |
Attached find a SoCal Edison filing asking the FERC to require the Cal PX to
cease and desist from liquidating or disposing its block forward contracts until FERC does an audit. It opposes the auction mechanism the PX has proposed for its block forward contracts because it would offer the contracts back to the generators first. It also claims that the PX could not suspend its day ahead (DA) and day of markets (DO) without a tariff filing. It asks the FERC to set the day ahead and day of market clearing price at zero. I think we should intervene and challenge the right of first refusal part of the auction and perhaps support the cease and desist until the Commission ensures: (1) that we get a fair opportunity to participate in the auction and (2) that at least fair market value is received in the event we don't succeed in the auction. Concerning suspending the PX DA and DO markets, I know EES was unhappy about it when it happended but, now that EES has the utilities scheduling for its retail customers, is it too late to do anything about it? What is the significance of setting the market clearing price at zero?
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