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Enron Mail |
Cc: steven.kean@enron.com
Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit Bcc: steven.kean@enron.com X-From: Miyung Buster X-To: Joe Hartsoe@ENRON, Sandra McCubbin@EES, Susan Mara@EES, Paul Kaufman@ECT, Karen Denne@ENRON, Jeff Dasovich@EES, Mark Palmer@ENRON, James D Steffes@EES, Richard Shapiro@EES, Elizabeth Linnell@EES, Jeannie Mandelker@ECT, filuntz@aol.com, Mark Schroeder@ECT, Peter Styles@ECT, Liz@luntz.com, Mona L Petrochko@EES, Peggy Mahoney@EES, Nicholas O'Day, Mike Dahlke, Rob Bradley@ENRON, Shelley Corman@ENRON, Jennifer Rudolph X-cc: Steven J Kean X-bcc: X-Folder: \Steven_Kean_June2001_4\Notes Folders\Discussion threads X-Origin: KEAN-S X-FileName: skean.nsf Calif Officials Examine Cal-ISO, CalPX Merger 09/21/2000 Dow Jones Energy Service (Copyright © 2000, Dow Jones&Company, Inc.) LOS ANGELES -(Dow Jones)- California officials are examining the possibility of a merger between the state's Independent System Operator and the California Power Exchange. The state auditor's office met Monday with the ISO to look into the ISO's operations and its relationship with the CalPX, according to documents obtained by Dow Jones Newswires. The audit was requested by state senator Steve Peace, D-El Cajon, who believes a merger between the ISO and the CalPX would make California's electricity market more competitive, said Jan Smutny-Jones, chairman of the ISO Board of Governors. The ISO controls 75% of the state's electricity grid and real-time electricity market. The CalPX is the spot market where electricity is bought and sold in the state. Monday's meeting, which lasted approximately 1 1/2 hours, was largely introductory, said ISO legal counsel Charles Robinson. "There were five or six people from the auditor's office, and they talked briefly about the scope of the audit and the time frame. We provided information on how the markets work and the ISO's organizational structure," Robinson said. The auditor's office will meet with the ISO Monday for 4-5 hours for a "training session on ISO 101," Robinson said. Once the office has a sense of the ISO's activities, he said, a more intensive document and on-site review will take place. The audit is expected to be finished by spring, said state auditor Mary Noble. Senator Peace requested the audit in mid-August due to concern over high wholesale electricity costs and the doubling of electricity rates paid by San Diego customers. San Diegans are the first to pay market-based electricity rates under the state's 1998 deregulation law. A recent report by the Electricity Oversight Board and the California Public Utilities Commission showed that wholesale electricity prices in the state have increased 270% over the same period in 1999. In his audit request, Peace said he also wanted to examine how effective the ISO and CalPX were at detecting and correcting market problems. Peace, who is running for California Secretary of State, is the architect of the state's deregulation law and has sponsored several bills to refine that law. -By Jessica Berthold, Dow Jones Newswires; 323-658-3761, jessica.berthold@dowjones.com Folder Name: Utilities, Electric: Retail Wheeling Relevance Score on Scale of 100: 56 ______________________________________________________________________ To review or revise your folder, visit Dow Jones CustomClips or contact Dow Jones Customer Service by e-mail at custom.news@bis.dowjones.com or by phone at 800-369-7466. (Outside the U.S. and Canada, call 609-452-1511 or contact your local sales representative.) ______________________________________________________________________ Copyright © 2000 Dow Jones & Company, Inc. All Rights Reserved
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