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Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Ginger Dernehl X-To: Richard Shapiro, Steven J Kean, Maureen McVicker, Elizabeth Linnell, Aleck Dadson, James D Steffes, Janine Migden, Jeff Brown, Marcia A Linton, Laurie Knight, Leslie Lawner, Robert Hemstock, Daniel Allegretti, Steve Montovano, Roy Boston, Robin Kittel, Susan T Covino, Jean R Dressler, Howard Fromer, Lisa Yoho, Frank Rishe, Barbara A Hueter, Susan M Landwehr, Becky L Merola, Sandra McCubbin, Lara Leibman, Bruno Gaillard, Margo Reyna, Nancy Hetrick, Hap Boyd, Sheila Petitt, Linda L Lawrence, Lynnette Barnes, Sue Nord, Terri Miller, Susan J Mara, Jeff Dasovich, Linda Sietzema, Mona L Petrochko, Lysa Akin, Stephanie McMurray, Sharon D Eley, Bill Moore, Ginger Dernehl, Paul Kaufman, Harry Kingerski, Robert Frank, Joseph Alamo, Patrick Keene, Marchris Robinson, Chauncey Hood, Marcie Milner, Tom Hoatson, Tom Chapman, Donald Lassere, Geriann Warner, Joe Allen, Tracy McLaughlin, Joe Hillings, Cynthia Sandherr, Carolyn Cooney, Lora Sullivan, Stephen D Burns, Chris Long, Allison Navin, Amy Fabian, Mericha Morrissette, Gloria Ogenyi, Robert Neustaedter, Kerry Stroup, Rubena Buerger, xi_xi@enron.net, Ricardo Charvel, Ron McNamara, Joe Hartsoe, Bernadette Hawkins, Richard Ingersoll, Christi L Nicolay, Gloria Solis, Charles Yeung, Mary Hain, Sarah Novosel, Scott Bolton, Tom Delaney, Damon Harvey, Tom Briggs, Steve Walton, Dan Staines, Donna Fulton X-cc: X-bcc: X-Folder: \Steven_Kean_June2001_4\Notes Folders\Discussion threads X-Origin: KEAN-S X-FileName: skean.nsf ---------------------- Forwarded by Ginger Dernehl/NA/Enron on 08/17/2000 02:35 PM --------------------------- Bruno Gaillard@EES 08/17/2000 01:55 PM To: SF Office, Marcie Milner/Corp/Enron@ENRON, Paul Kaufman/PDX/ECT@ECT, Mary Hain/HOU/ECT@ECT, Tim Belden/HOU/ECT@ECT, Robert Badeer/HOU/ECT@ECT, Chris H Foster/HOU/ECT@ECT, Frank W Vickers/HOU/ECT@ECT, Samuel Wehn/HOU/ECT@ECT, David Parquet/SF/ECT@ECT, Greg Wolfe/HOU/ECT@ECT, Ginger Dernehl/NA/Enron@Enron cc: Subject: 350$ Cal PX bid cap resolution - passed 8/16 subject to FERC approval Attached below the article is the Resolution ---------------------- Forwarded by Bruno Gaillard/SFO/EES on 08/17/2000 11:48 AM --------------------------- <E._Jesus_Arredondo@calpx.com< on 08/17/2000 11:41:33 AM To: bgaillar@enron.com cc: Subject: 2nd try...PX bid cap resolution RESOLUTION Please keep in mind, until the FERC responds, there will be no changes to our markets. (See attached file: resolution bid caps august 16.doc) Also FYI: Dow Jones Newswires CalPX To Ask FERC To Reduce Day-of, Day-Ahead Price Cap: Board Caves In To Political Pressure By Jason Leopold LOS ANGELES--The California Power Exchange, the spot market where electricity is bought and sold in the state, approved a measure Wednesday seeking federal authority to impose a $350 per megawatt-hour bid cap on wholesale power prices in its day-of and day-ahead markets. Members of the CalPX's board of governors admitted that the measure was approved as a result of intense political pressure being placed on the board by state lawmakers and Gov. Gray Davis. "Not approving this is political suicide," said CalPX board member Carolyn Keherein, who also serves on the board of governors at the California Independent System Operator. "We're not changing anything but the perception in the market." The CalPX current cap on wholesale power prices in the day-of and day-ahead market is set at $2,500, but that is only a technical limitation of their computer system and has had no effect on power prices. State lawmakers believe a price cap would stabilize high power prices being passed on to retail customers, most notably consumers in San Diego. Ratepayers there are paying market-based rates for electricity and have seen their utility bills nearly triple in the past two months. The price cap would need to be approved by the Federal Energy Regulatory Commission before it goes into effect at the Power Exchange. FERC has not indicated whether it would OK the measure, but said it would investigate it. If you have any questions, please feel free to call me directly. -eja E. Jesus Arredondo Manager, Corporate Communications California Power Exchange Tel. 626.537.3155 - resolution bid caps august 16.doc
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