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]
Date: Tue, 29 May 2001 09:40:00 -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).