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Enron Mail |
Info from the press conference today
Sue Mara Enron Corp. Tel: (415) 782-7802 Fax:(415) 782-7854 ----- Forwarded by Susan J Mara/NA/Enron on 02/08/2001 11:51 AM ----- "Allen, Stevan" <stevan.allen@edelman.com< 02/08/2001 10:39 AM To: "Beiser, Megan" <Megan.Beiser@edelman.com<, "''nplotkin@tfglobby.com' '" <nplotkin@tfglobby.com<, "'Aaron Thomas (E-mail) (E-mail) '" <athomas@newenergy.com<, "'Andrea Weller (E-mail) (E-mail) '" <aweller@sel.com<, "'andrew Chau (E-mail) (E-mail) '" <anchau@shellus.com<, "'Bill Chen (E-mail) (E-mail) '" <bchen@newenergy.com<, "'Douglas Oglesby (E-mail) (E-mail) '" <doao@chevron.com<, "Fairchild, Tracy" <tracy.fairchild@edelman.com<, "'Jeffrey Hanson (E-mail) (E-mail) '" <jeff.hanson@phaser.com<, "'jennifer Chamberlin (E-mail) (E-mail) '" <jnnc@chevron.com<, "'john Barthrop (E-mail) (E-mail) '" <jbarthrop@electric.com<, "'John Leslie (E-mail) (E-mail) '" <jleslie@luce.com<, "'Joseph Alamo (E-mail) (E-mail) '" <jalamo@enron.com<, "''Michael Nelson' (E-mail) '" <mnelson@electric.com<, "'Mona Petrochka (E-mail) '" <mpetroch@enron.com<, "'Peter Bray (E-mail) (E-mail) '" <pbray@newpower.com<, "'Rebecca Schlanert (E-mail) (E-mail) '" <rschlanert@electric.com<, "'Richard Counihan (E-mail) (E-mail) '" <rick.counihan@greenmountain.com<, "''Robert Morgan' (E-mail) '" <rmorgan@newenergy.com<, "'Sue Mara (E-mail) (E-mail) '" <smara@enron.com< cc: "Warner, Jami" <jami.warner@edelman.com<, "Manuel, Erica" <Erica.Manuel@edelman.com<, "Fairchild, Tracy" <tracy.fairchild@edelman.com<, "Anderson, Kristin" <Kristin.Anderson@edelman.com< Subject: AReM: Angelides News Conf AReM Team: The following is an overview from: 9 a.m., SACRAMENTO _ State Treasurer Phil Angelides holds media briefing to discuss issuance of energy-related bonds, 915 Capitol Mall, room 110. Contact: Colleen Beamish, 916-653-4052. While we have not had time to analyze or digest in detail, here is what Angelides said: Angelides: Laid out what needs to be done for the Treasurer's office to implement AB 1X and what is and isn't appropriate role of the state for getting the IOUs solvent. Angelides: "These will be largest (amount of) municipal bonds issued in nation's history." Angelides: Estimated bonds would be in $10 billion range. (This echoes what he said in Jan. 5 news conference) Angelides: Goal is to arrange short-term external financing by beginning of March. This would account for about $2 billion. If they don't get that amount by March 1, 2001, the State will tap into the General Fund. (NOTE: This appears to be different from the $2 billion he talked about last month for the renewable energy and conservation load program -- the reserve fund he would use to reduce the intereset paid to the consumers.) Angelides: It is "fortunate" that this is happening when State of California currently has a $5.8 billion surplus. Angelides: By passing AB 1X, the State has "provided for stability on a going forward basis" for the utilities. Angelides: "The next step is for the utilities." -- i.e. - the ball is in their court because the IOUs aren't now in a position where they necessarily are going to be insolvent, so they have decisions to make. Do they want to sell off transmission assets or do they want to pursue the bankruptcy option? Angelides: "A buyout, not a bailout makes sense." because it "would give liquidity to the utilities." Angelides: Announced he was assembling full financing team which would be in place by Friday. Angelides: Also said that before bonds could be issued, interim steps needed to be taken. Specifically -- that DWR and PUC must reach an agreement on what rates must be paid on power contracts. On the phone were: * Michael Kahn; Laura Holson (sp?); Debra Feinstone (sp?) -- All three listened in and did not participate. We will be faxing handouts and news releases of this and other news conferences to the team. If you don't receive them, please contact Kristin Anderson at 916/442-2331 to request a fax. PS - The Connell news conference has been postponed. -----Original Message----- From: Beiser, Megan To: 'nplotkin@tfglobby.com'; Aaron Thomas (E-mail) (E-mail); Andrea Weller (E-mail) (E-mail); andrew Chau (E-mail) (E-mail); Bill Chen (E-mail) (E-mail); Douglas Oglesby (E-mail) (E-mail); Fairchild, Tracy; Jeffrey Hanson (E-mail) (E-mail); jennifer Chamberlin (E-mail) (E-mail); john Barthrop (E-mail) (E-mail); John Leslie (E-mail) (E-mail); Joseph Alamo (E-mail) (E-mail); 'Michael Nelson' (E-mail); Mona Petrochka (E-mail); Peter Bray (E-mail) (E-mail); Rebecca Schlanert (E-mail) (E-mail); Richard Counihan (E-mail) (E-mail); 'Robert Morgan' (E-mail); Sue Mara (E-mail) (E-mail) Cc: Allen, Stevan; Warner, Jami; Manuel, Erica; Fairchild, Tracy; Anderson, Kristin Sent: 2/8/01 11:40 AM Subject: Several Press Briefings in Sacramento today AReM-ers, It's a busy day today for press briefings as you can see from the schedule below. We'll be covering these events this morning and will get news releases, press materials from all as well. We will provide updates as soon as possible and get them out to you. ********************* 9 a.m., SACRAMENTO _ State Treasurer Phil Angelides holds media briefing to discuss issuance of energy-related bonds, 915 Capitol Mall, room 110. Contact: Colleen Beamish, 916-653-4052. 9:30 a.m., SACRAMENTO _ Assembly Speaker Robert Hertzberg and others discuss legislation to promote energy conservation and increase power supplies, Capitol, room 317. Contact: Paul Hefner, 916-319-2408. 11:30 a.m., YUBA CITY _ Gov. Gray Davis discusses his plans to increase electricity generating capacity in California, Sutter power plant project, 5087-A South Township Rd. Contact: 916-445-4571. Noon, SACRAMENTO _ Republican lawmakers hold news conference to discuss failure of parent companies to keep their utility subsidiaries sufficiently solvent to serve the public interest, Capitol, room 1190. Contact: Wade Teasdale, 916-445-3731.
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