fw : thoughts on px credit claim with edison fyi - some of this ctc negotiation has been taking place with dasovich and tribolet . i think the clean commercial deal for ken to mention to bryson is a 2 - 3 yr gas swap ( they are short socal border and malin because some of their qf contracts are indexed to nat gas ) .
chris calger
503 - 464 - 3735
- - - - - original message - - - - -
from : dasovich , jeff
sent : wednesday , october 17 , 2001 12 : 04 pm
to : calger , christopher f .
subject : thoughts on px credit claim with edison
chris :
a little background ( recaps briefly what we discussed on the phone on monday ) :
a few weeks ago , we ( government affairs ) approached john fielder of edison to see if there was any chance that edison might be willing to reach a deal on our negative ctc / px credit claim .
after discussions with rac , we offered to take 90 cents on the dollar for amounts owed through march 1 . ( there ' s general agreement with edison on what the number is up to january 17 , which would only leave 1 . 17 - - 3 . 1 in dispute . but recall there ' s still the ferc refund issue which complicates the issue . )
we asked for 10 % down immediately and a binding agreement that edison would pay us by a date certain sometime in the next quarter .
in exchange , we said we ' d drop our law suits at the puc . in one suit , we ' re asking the puc to have edison pay us . in the other , we ' ve stopped paying edison for transportation costs until the puc gets edison to pay us . we ' re depositing what we owe edison in an escrow account pending resolution .
we also agreed to work with edison to get the puc to end the whole residual ctc / px credit framework retroactive to march 1 , 2001 . ( that would reduce edison ' s exposure to negative ctc and our exposure to positive ctc . )
for his part , fielder was looking ( in addition ) for 1 ) an agreement on our part to forebear , and 2 ) an agreement that everyone , including da customers , should pay what they rightly owe for a ) edison ' s undercollection , b ) the bonds , and c ) dwr ' s stranded contract costs .
we never resumed the talks in earnest because soon after our talk , edison struck its bailout deal with the puc .
hope this helps .
best ,
jeff
fw : thoughts on px credit claim with edison
fyi - some of this ctc negotiation has been taking place with dasovich and tribolet . i think the clean commercial deal for ken to mention to bryson is a 2 - 3 yr gas swap ( they are short socal border and malin because some of their qf contracts are indexed to nat gas ) .
chris calger
503 - 464 - 3735
- - - - - original message - - - - -
from : dasovich , jeff
sent : wednesday , october 17 , 2001 12 : 04 pm
to : calger , christopher f .
subject : thoughts on px credit claim with edison
chris :
a little background ( recaps briefly what we discussed on the phone on monday ) :
a few weeks ago , we ( government affairs ) approached john fielder of edison to see if there was any chance that edison might be willing to reach a deal on our negative ctc / px credit claim .
after discussions with rac , we offered to take 90 cents on the dollar for amounts owed through march 1 . ( there ' s general agreement with edison on what the number is up to january 17 , which would only leave 1 . 17 - - 3 . 1 in dispute . but recall there ' s still the ferc refund issue which complicates the issue . )
we asked for 10 % down immediately and a binding agreement that edison would pay us by a date certain sometime in the next quarter .
in exchange , we said we ' d drop our law suits at the puc . in one suit , we ' re asking the puc to have edison pay us . in the other , we ' ve stopped paying edison for transportation costs until the puc gets edison to pay us . we ' re depositing what we owe edison in an escrow account pending resolution .
we also agreed to work with edison to get the puc to end the whole residual ctc / px credit framework retroactive to march 1 , 2001 . ( that would reduce edison ' s exposure to negative ctc and our exposure to positive ctc . )
for his part , fielder was looking ( in addition ) for 1 ) an agreement on our part to forebear , and 2 ) an agreement that everyone , including da customers , should pay what they rightly owe for a ) edison ' s undercollection , b ) the bonds , and c ) dwr ' s stranded contract costs .
we never resumed the talks in earnest because soon after our talk , edison struck its bailout deal with the puc .
hope this helps .
best ,
jeff