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Below is an update from the weekend's activities. The group negotiating the core/noncore proposal met over the weekend to attempt to put the proposal into legislative language/format. The product produced thus far is generally sloppy and ill-drafted and the individual facilitating the group is working tonite to integrate the comments provided and discussions that took place today. He will distribute a new draft by noon tomorrow (PDT). The plan as it currently stands is to deliver a product to Hertzberg by COB tomorrow (Monday). As expected, some in the group are attempting to "recontract" certain portions of the original deal, but those attempts are generally at the margin. The DWR contracts remain a key impediment to any deal. Senator Burton has still not definitively committed to a conference committee to produce a bill to deliver to Davis. In addition, the legislation to create a dedicated rate component to service the bonds to repay the state budget for power purchased by DWR (and de-link the bonds from the DWR contracts) may be on a slower track than folks thought initially. Will have more information tomorrow on where Burton and the bond legislation stand. Best,
Weekend efforts to translate core/noncore proposal into legislative language