Message-ID: <7823692.1075858501878.JavaMail.evans@thyme> Date: Fri, 17 Aug 2001 07:50:31 -0700 (PDT) From: chris.stokley@enron.com To: kalmeida@caiso.com Subject: FW: CAISO Notice - Underscheduling Penalty and PG&E Bankruptcy Claims Bar Date Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: quoted-printable X-From: Stokley, Chris X-To: 'KAlmeida@caiso.com' X-cc: X-bcc: X-Folder: \Stokley, Chris (Non-Privileged)\Chris Stokley\SENT X-Origin: Stokley-C X-FileName: Stokley, Chris (Non-Privileged).pst When will the ISO be sending this information out? -----Original Message----- From: =09CRCommunications [mailto:CRCommunications@caiso.com]=20 Sent:=09Thursday, August 16, 2001 2:23 PM To:=09ISO Market Participants; SC Settlements Contacts Subject:=09CAISO Notice - Underscheduling Penalty and PG&E Bankruptcy Claim= s Bar Date IMPORTANT NOTICE UNDERSCHEDULING PENALTY AND PG&E BANKRUPTCY PROOF OF CLAIMS As you are aware, the claims bar date in the PG&E bankruptcy is September 5= th. Consistent with our practice of providing information held by the ISO = to Market Participants that concerns the amounts that may be owed to them i= n part by PG&E, the ISO is today sending to each Scheduling Coordinator an = accounting of the amounts it owes or is owed in the event the underscheduli= ng penalty is not modified by FERC. FERC adopted the underscheduling penal= ty in a December 15, 2000 Order. Because there are several rehearing petit= ions pending regarding the underscheduling penalty, to date the ISO has cal= culated but has not invoiced amounts owed or owing pursuant to the undersch= eduling penalty. It is our expectation that Scheduling Coordinators will s= hare with individual entities for whom they schedule, information that is r= elevant to them. As we have advised in prior Market Notices, although the ISO settles transa= ctions on behalf of Market Participants, the ISO is neither authorized nor = in a position unilaterally to assert claims on behalf of Market Participant= s in any bankruptcy proceeding, i.e. assert claims of "ISO Debtors" against= "ISO Creditors" (ISO Tariff Section 11.20.1). Further, while the ISO may = be asked by an "ISO Debtor" to assert such claims in the PX or PG&E bankrup= tcy cases, the ISO is not obliged to do so and will decline any such reques= t. The ISO expressly disavows any liability for any Market Participant's c= laims, whether or not the Market Participant files any such proofs of claim= in the PX or PG&E bankruptcy proceedings. Further, as we have advised in = prior Market Notices, all statements, including the information sent today = regarding the underscheduling penalty, are subject to change. A number of = transactions are currently known to be the subject of disputes and market r= eruns. There are also proceedings pending at FERC, Federal Courts, and Sta= te Courts, the outcomes of which may affect amounts owed by PG&E to each Ma= rket Participant or by the Market Participant to PG&E. In addition, we anti= cipate that further disputes and proceedings may arise and market reruns ma= y be performed that will affect the calculation of such amounts. The ISO w= ill continue to work diligently to resolve these matters as quickly as poss= ible. Nonetheless, it is clear that significant issues may remain unresolv= ed and/or unidentified by the claims bar date. Market Participants should consult their own legal COUNSEL as to their resp= ective rights and proofs of claims in the bankruptcy cases of the PX and P= G&E. Client Relations Communications CRCommunications@caiso.com