
Date: Tue, 3 Jul 2001 05:39:00 -0700 (PDT)
From: jeff.dasovich@enron.com
To: susan.mara@enron.com
Subject: Re: Angelides Investor Memo - Timetable Update -- says CPUC vote
not needed until mid August
Cc: harry.kingerski@enron.com, james.steffes@enron.com, karen.denne@enron.com,
michael.tribolet@enron.com, paul.kaufman@enron.com,
richard.shapiro@enron.com
Bcc: harry.kingerski@enron.com, james.steffes@enron.com, karen.denne@enron.com,
michael.tribolet@enron.com, paul.kaufman@enron.com,
richard.shapiro@enron.com

Thanks, Sue.  FYI--this new schedule was discussed a lot last week, and
apparently was a big part of the meeting that occured with Davis' people and
Angelides last Thursday nite.  It was a move to buy time to try and get a
comprehensive settlement in place in the legislature (i.e., core/noncore).

In addition to buying time to save Direct Access, it also gives Angelides
more time to get the bonds lined up, which seems to be an increasingly
challenging task---there's growing speculation that the issuance will be much
more difficult than Angelides has thus far let on.

That said, I need to check around, but there is some chance that the
plan/agreement is that the PUC decisions would go out well in advance of
August (with effective date being August), which would then provide enough
time to let the expedited "appeals process" under (SB37?) run its course in
time for the issuance in Sept/Oct.  In short, we'll need to remain vigilant
energized because there's a chance that the decisions to which Angelides
refers in the memo could be up at the Commission sooner rather than later.
This is what I was hearing last Friday, but perhaps things have changed and
now there's more time.   I'll check and report back.

Finally, simultaneous with those actions, folks are supposed to be putting
the core/noncore agreement into legislative language.  I'll report back as
soon as I have more information on that.

Best,
Jeff



