Rate Agreement between DWR and the PUC Regarding Creditworthiness

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