Subject: California Update p.3; 5/29/01
From: [email-masked]
To: [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], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked]
Date: Tue, 29 May 2001 14:38:47 -0700 (PDT)

Hertzberg and Keeley announced that they are filing a petition with FERC to rehear the April 26th decision regarding price caps.  After going to D.C. and meeting with several FERC members, they decided to file for a rehearing.  Their filing asks that the order should be in affect around the clock instead of just during Stage 1, that the actual costs be tied closer to the pricing of the product, and anyone that exceeding the cost-based pricing system have a 100% penalty.

Hertzberg and Keeley had a press conference today at 1:30 PST.  Questions included the impact of today's ruling and how it would affect Plan B, Hertzberg replied he was not sure.    He also indicated that they support the Feinstein bill and if the lawsuit or the rehearing efforts do not work, legislation is the last chance for price caps.  Hertzberg also indicated that he was getting to the point where CA "may just say no to prices that are too high" (via buyer cartel).