RE: CTC - Stat(EESO)

< -----Original Message-----
< From: Belden, Tim
< Sent: Friday, September 07, 2001 9:05 AM
< To: Ruffer, Mary lynne; Richter, Jeff; Swain, Steve;
< Steffes, James D.
< Cc: O'Neil, Murray P.; Colwell, Wes
< Subject: RE: CTC - Stat(EESO)
<
<
< I ran some quick totals on the data. Here is what I saw for
< the commercial customers:
< * Average CTC for these customers of $24.11/MWh
<
< A couple other questions / observations:
< * Steve, do we have any idea how they calculate this?

Tim,

It appears that they are following their "adjusted" formula almost exactly as we had calculated it a couple of weeks ago. The spreadsheet I put together shows PG&E's Adjusted CTC for the months of Jun, Jul, and Aug (the time period in which <96% of the volumes appear) to be $23.13, $25.41, and $23.79 respectively. The average of these three? $24.11 !!! (Okay, it's a simple average, not weighted, but we are certainly well within the ballpark.)