Subject: California Update 3/16/01
From: [email-masked]
To: [email-masked], [email-masked], [email-masked]
Cc: [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked]
Date: Fri, 16 Mar 2001 10:33:00 -0800 (PST)

?	A source within the generator community confirms press reporting that Coram Energy plans to file an involuntary bankruptcy early next week.  Through an intermediary, we were able to corroborate this information with a senior member of the CA ISO board.  Coram  Energy is a relatively small wind generator QF based in West Vancouver, British  Columbia, though it also owns wind stations in California.  Coram has 238  40 kw units.  
?	The source believes that this filing may have been precipitated by the  fact that many people believe it would take a blackout for Governor Davis  to be able to get his bailout plan passed by the legislature.  It is  unlikely that blackouts would happen in April or May, meaning a  long wait for the cash strapped QFs to wait to get paid.
?	The filing will be against Socal.
?	In order to file an involuntary bankruptcy, Coram  would have to file along with at least two other creditors owed $10,000 or more.  Sources report Coram has two other creditors who will file with them (working on finding out who they are).
?	Sources also report that other QFs are "taking  legal advice" on how to proceed in light of these developments.