White House To Support FERC Action Today

Fyi - price cap events of the week.
---------------------- Forwarded by Steven J Kean/NA/Enron on 06/18/2001
07:48 AM ---------------------------

John Shelk
06/18/2001 07:15 AM
To: Steven J Kean/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, James D
Steffes/NA/Enron@Enron, Linda Robertson/NA/Enron@ENRON, Tim
Belden/Enron@EnronXGate, Alan Comnes/Enron@EnronXGate, Kevin M
Presto/Enron@EnronXGate, Robert G Johnston/Enron@EnronXGate, Tom
Briggs/NA/Enron@Enron, Pat Shortridge/Corp/Enron@Enron, Carin
Nersesian/NA/Enron@Enron, Sarah Novosel/Corp/Enron@ENRON, Ray
Alvarez/NA/Enron@ENRON
cc:

Subject: White House To Support FERC Action Today

According to this morning's Washington Post, the Bush Administration will
support the expected FERC action today of extending the existing California
price mitigation regime to 10 other Western states and to all days/all hours,
not just during California emergencies (stages 1, 2 and 3). This action
comes only a day before FERC and other witnesses will testify on the
Feinstein/Smith price cap legislation before the Senate Energy Committee,
Gov. Davis and FERC will testify before the Senate Governmental Affairs
Committee on Wednesday, and the House Financial Services Committee joins the
fray with a hearing on the California energy situation on Wednesday. The
latter committee will probably base its jurisdiction over some aspect of
energy policy on a number of factors, including its jurisdiction over
presidential economic emergency powers. The committee staff has in the past
expressed interest in derivatives and other financial aspects of energy
trading and markets. We are checking now to quietly determine whether these
issues will be on Wednesday's agenda.