california update 9 - 07 - 2001 for questions or comments regarding this report please contact g . britt whitman at ex : 5 - 4014 or kristin walsh at ex : 3 - 9510 .
executive summary
? mou passes assembly , faces fight in senate
? cpuc direct access delayed by senator
socal developments
as reported in the press this morning , the bailout passed the assembly late last night by a 41 - 32 vote . it will now head to the senate , where very significant opposition is expected . along with his opposition to the changes made in the assembly regarding the size of businesses that pay the dedicated rate component for the bailout , senator burton also has expressed privately that he is against paying twice book value for socal ' s transmission assets .
senator places hold on cpuc direct access vote
regarding the cpuc ' s decision to delay its hearings on the rate order and various other bond implementation measures ( which led treasurer angelides to announce that the bond issue will have to be re - timed ) , this delay is due to a bill by senator burton that passed the assembly appropriations committee yesterday . burton ' s bill would take the place of the current proposed rate agreement ( from governor davis ) and would require greater disclosure and transparency in dwr ratemaking , as well as separate the payment streams for the bonds from payment streams for power . in doing so , burton ' s bill preserves more puc authority than would be preserved under the rate order currently before the puc - thus the delay in action .
pg & e also supports burton ' s bill , which is very likely to pass the assembly and which the governor will likely have to sign . if this bill is signed , pg burton wants to ensure that businesses will have to return to purchasing power from dwr at that time .
the ctma is opposed to burton ' s bill and to the bailout if no direct access is offered . the ctma wants its members to be able to escape from buying power from the dwr ( and therefore paying off the bonds ) permanently in 2003 .
california update 9 - 07 - 2001
for questions or comments regarding this report please contact g . britt whitman at ex : 5 - 4014 or kristin walsh at ex : 3 - 9510 .
executive summary
? mou passes assembly , faces fight in senate
? cpuc direct access delayed by senator
socal developments
as reported in the press this morning , the bailout passed the assembly late last night by a 41 - 32 vote . it will now head to the senate , where very significant opposition is expected . along with his opposition to the changes made in the assembly regarding the size of businesses that pay the dedicated rate component for the bailout , senator burton also has expressed privately that he is against paying twice book value for socal ' s transmission assets .
senator places hold on cpuc direct access vote
regarding the cpuc ' s decision to delay its hearings on the rate order and various other bond implementation measures ( which led treasurer angelides to announce that the bond issue will have to be re - timed ) , this delay is due to a bill by senator burton that passed the assembly appropriations committee yesterday . burton ' s bill would take the place of the current proposed rate agreement ( from governor davis ) and would require greater disclosure and transparency in dwr ratemaking , as well as separate the payment streams for the bonds from payment streams for power . in doing so , burton ' s bill preserves more puc authority than would be preserved under the rate order currently before the puc - thus the delay in action .
pg & e also supports burton ' s bill , which is very likely to pass the assembly and which the governor will likely have to sign . if this bill is signed , pg burton wants to ensure that businesses will have to return to purchasing power from dwr at that time .
the ctma is opposed to burton ' s bill and to the bailout if no direct access is offered . the ctma wants its members to be able to escape from buying power from the dwr ( and therefore paying off the bonds ) permanently in 2003 .