Message-ID: <15133663.1075860465988.JavaMail.evans@thyme> Date: Tue, 6 Mar 2001 09:16:00 -0800 (PST) From: bwoertz@caiso.com To: 20participants@caiso.com Subject: CAISO Notice - Disbursement of Funds for December Invoice Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: "Woertz, Byron" X-To: ISO Market Participants X-cc: X-bcc: X-Folder: \Mary_Hain_Aug2000_Jul2001\Notes Folders\Notes inbox X-Origin: Hain-M X-FileName: mary-hain.nsf ISO Market Participants: Cash clearing for preliminary invoices for December 2001 was to take place on March 5, 2001. The ISO received market related funds totaling $46,369,847.29 from total market receivables of $1,503,186,210.21. The ISO intends to distribute these funds on March 7, 2001. The ISO delayed this distribution to allow us to complete the complex calculations necessary to ensure that all funds are distributed equitably and in accordance with the ISO Tariff. In addition, PG&E transferred $177,000,000 ($171,116,114.43 net of GMC obligation) to the ISO on March 2, 2001. Such funds were intended by PG&E to satisfy PG&E obligations to the ISO through the California Power Exchange. The California Power Exchange is the subject of a preliminary injunction (Case No. 01-00901CM of the US District Court, Central District of California, "Enron Power Marketing and Enron Corp. vs. California Power Exchange") which provides that "CalPX shall not be required to make payments to creditors of CalPX resulting from its clearinghouse function." The ISO is discussing with its counsel the appropriate course of action to take in light of this injunction, and has placed such funds in a segregated interest bearing account until such a determination has been made. Phil Leiber Dir. Financial Planning & Treasurer California ISO 916 351-2168 916-351-2259 (fax)