On Friday the Commission issued an order suspending (until October 15, 2000) TW's tariff sheets for acquiring PNM capacity, and calling for a technical conference. The Commission stated that while TW's proposal may be in the public interest, further investigation of the issues, including those raised by Dynegy in its protest, is necessary prior to authorization. The order does not make clear what issues are to be investigated, but they seem to include: whether TW will, in effect, become a marketer for PNM's services, whether the rates are just and reasonable and whether there is any expansion of monopoly power. Additionally, the Commission noted that while PNM has certificate (i.e., public convenience & necessity) authority to transport gas in interstate commerce, PNM will "have to either explain how it has appropriate rate authority for transportation of natural gas in interstate commerce, or seek appropriate rate authority from the Commission." Lorraine has forwarded a copy of the order to PNM so that they can begin taking the appropriate steps. I will talk with regulatory about technical conference dates and will tell you when I have further information. If you would like a copy of the order, let me know.

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PNM filing