Subject: Underscheduling Penalty--CONFIDENTIAL
From: [email-masked]
To: [email-masked], [email-masked]
Cc: [email-masked], [email-masked], [email-masked], [email-masked], [email-masked]
Date: Wed, 27 Jun 2001 19:56:00 -0700 (PDT)

The Calif. EOB has released information on the size of the FERC-approved, tracked, but-as-yet-unimplemented underscheduling penalty.

See the attached PDF file, especially the figures in the attachment at the end.

The total liability for PG&E and SCE is approaching $1billion. (EOB says that DWR is off the hook but I am not sure that is true.)

As a generally balanced SC, Enron would likely be eligible for some of these proceeds.  How the proceeds would be allocated is less than fully clear.  MURRAY O'NEIL: Have you seen anything on who would receive the revenues from this tracking A/C if it were to be billed and paid?)

Also the probability of ever extracting these $s out of noncreditworthy counter parties must be taken into account.

Alan Comnes