RE: deposits

I suspect this deposit may be the $19.4MM utility bond listed on the schedule I am attaching that I received from Credit. We will continue to review the balance sheet, but the only "deposits" I have seen thus far are the deposits being made to the CPUC for disputed invoices from SCE.

-----Original Message-----
From: Leff, Dan
Sent: Friday, November 30, 2001 6:12 AM
To: Stubblefield, Wade; Ruffer, Mary lynne; Morrow, Cynthia; Nelson, Kimberley; Black, Don; Herndon, Rogers; Belden, Tim; Huddleson, Diann; Hughes, Evan; Herod, Brenda F.; O'Neil, Murray P.; Kingerski, Harry; Steffes, James D.; Harris, Molly; Bradford, William S.
Cc: Sharp, Vicki; Smith, Mike D.
Subject: RE: deposits

My reading of a memo that SCE sent is that we have a deposit requirement of ~$23MM and that it needs to increase. It wasn't clear whether that deposit was satisfied with cash, bond or LC. In all areas where we are billing our clients for power and T&D, we may have the opportunity to go to dual billing and receive deposits back, as well as to stop funding the PG&E escrow account. I would imagine that the tariff provides for our deposits only to be netted against a deficiency in our T&D payments, where we are probably 100% current.

We need to aggregate where we think we have this opportunity and take action today.

Thanks - Dan

-----Original Message-----
From: Stubblefield, Wade
Sent: Thursday, November 29, 2001 9:06 PM
To: Ruffer, Mary lynne; Morrow, Cynthia; Nelson, Kimberley; Black, Don; Herndon, Rogers; Belden, Tim; Huddleson, Diann; Hughes, Evan; Herod, Brenda F.; O'Neil, Murray P.
Cc: Leff, Dan; Sharp, Vicki
Subject: deposits

I am copying a lot of people on here to try and get as many sources thinking about this as possible. Dan indicated to me that SCE appears to have a sizable deposit from us on hand (around $20MM) and is asking for more. How can we trackdown/schedule out all of our deposits. I would like to think we have them all in a deposit account on our balance sheet, but that is not likely (although Kim, Cindy and Mary Lynne should scour that).

Does anybody have any ideas?????

Wade