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Enron Mail |
FYI, the attached PGE filing makes mention of two complaints filed with the
CPUC seeking collection of unpaid PX credits. Peggy, if the press tracks these complaints down, you may get several press inquiries tomorrow. Jeff, can we figure out who filed the other complaint? Please forward as appropriate. ---------------------- Forwarded by Vicki Sharp/HOU/EES on 02/14/2001 06:37 PM --------------------------- From: Michael Tribolet@ENRON on 02/14/2001 07:04 PM To: Mike D Smith/HOU/EES@EES cc: James D Steffes/NA/Enron@Enron, Jeff Dasovich/NA/Enron@Enron, jklauber@llgm.com, mday@gmssr.com, Robert C Williams/Enron@EnronXGate@EES, Susan J Mara/NA/Enron@Enron, Vicki Sharp/HOU/EES@EES, Wanda Curry/HOU/EES@EES Subject: Re: PG&E SEC Filing Per your request, please see the attached. Mike D Smith@EES 02/14/2001 05:37 PM To: Michael Tribolet/Corp/Enron@Enron, Wanda Curry/HOU/EES@EES, Vicki Sharp/HOU/EES@EES, Robert C Williams/Enron@EnronXGate, mday@gmssr.com, James D Steffes/NA/Enron@Enron, Susan J Mara/NA/Enron@ENRON, Jeff Dasovich/NA/Enron@Enron, jklauber@llgm.com cc: Subject: PG&E SEC Filing Please see the bold language in the article below about PG&E's recent SEC filing. Sounds like our "negative CTC's." Michael--do you have a copy of that SEC filing? MDS NEW YORK (Reuters) - PG&E Corp.(NYSE:PCG - news), embattled parent of Pacific Gas & Electric Co., said on Wednesday it is examining a restructuring of its bank loans and commercial paper, and that bank lenders on a $1 billion revolving credit facility to its California electric utility unit won't act upon that unit's previously announced default until March 6. San Francisco-based PG&E made the disclosures in a filing late Wednesday with the Securities and Exchange Commission (news - web sites) (SEC). The utility had about $1 billion in cash as of Tuesday, PG&E said. A similar bank deadline affecting credit lines of Southern California Edison (news - web sites), that state's No. 2 utility and a unit of Rosemead, Calif.-based Edison International(NYSE:EIX - news), was to expire on Tuesday. PG&E also said in its filing that as of Monday, Pacific G&E, California's No. 1 utility, may not have paid as much as $433 million of ``energy credits'' to customers who have chosen to buy their electric energy from a provider other than Pacific G&E. The utility is required under state regulations to offer the credits, it said. Pacific G&E and SoCal Edison have been unable to recover about $12 billion because of a rate freeze imposed under California's 1996 utility deregulation law, which has left them unable to pass on their soaring wholesale power costs to consumers.
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