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Enron Mail |
FYI. Here's the release that I referenced yesterday evening.
? CONTACT: Armando Rend?n December 13, 2000 CPUC: 103 ? 415-703-1366 abr@cpuc.ca.gov ? CPUC PRESIDENT LYNCH AND COMMISSIONER DUQUE STATEMENT California Public Utilities Commission (CPUC) President Loretta Lynch and Commissioner Henry Duque today issued a statement regarding revisions to item 8 on the Commissioner agenda of December 21, 2000: We note certain revisions to the Commission's published agenda for December 21st. Item 8 has been revised to reflect the scope of options available to the Commission in addressing current financial conditions facing Pacific Gas and Electric and Southern California Edison. The financial problems faced by California's utilities are the result of the failure of the wholesale electric market to ensure just and reasonable prices for this necessity. The Commission need not act on this agenda item on December 21st, but the fact that it is on our agenda allows the Commission to act if necessary. The financial stability of California's utilities is of paramount importance to California, and to this Commission. The CPUC stands ready to act to protect the financial viability of California utilities. The exorbitant and unjustified prices now being charged in California's electricity market demonstrate the necessity for the Federal Energy Regulatory Commission (FERC) to intervene and control the opportunism of the electricity sellers. FERC must act to solve the underlying market failure so that all energy consumers are assured of reliable delivery of power and protected from exorbitant energy costs. We urge FERC to act immediately. For information on this item, please contact Harriett Burt, Deputy Chief of Staff for Loretta Lynch at 415-703- 2444, Mary Lou Tousey, 415-703-2593, or Commissioner Carl Wood, 415-703- 2440. ###
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