IN: This is an email
Dad, I know this has been more difficult than I can conceive, so I did what every good seminary student should and looked for something that might help a little. Solomon, when he was made king, asked only for wisdom and God gave it to him as well as many other blessings. The wisdom, as you well know, helped him to be a great ruler. There is no doubt God has already given you great wisdom and will continue to bless your life. You are always in my prayers. Love,

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OUT: Wisdom

IN: This is an email
I have red-lined the changes that I feel we need to address for a short term spot deal with the City of Austin. Please review and let me have your comments. If you want ENA to do the deal, I need to make a few additional changes for the items ENA cannot do.

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OUT: Austin Energy Contract Draft

IN: This is an email
The speaker introduced a bill that would: Order the CA PUC to establish a "rate component" to permit the utilities to recover its "net undercollected amount" over a period of ten years. (Sounds like there may be a haircut in there somewhere.) Authorize the State Water Dept. to purchase power on behalf of utilities and munis. Order the CA PUC to create a separate rate component to cover the Dept. 's cost of purchasing the power. Authorize the Treasurer to issue debt, backed by ratepayers, to cover any difference between the price the Water Dept. buys the power for and the price that can be collected from ratepayers under the rate freeze. Authorizes the State Director of Finance to "accept on behalf of the state any tangible asset of an electrical corporation." (Presumably the state is looking to get something from the IOUs (say, the hydro assets) in exchange for giving the utility it's "net undercollected amount." The bill is long and haven't yet had a chance to review it in detail. We're faxing the bill. The bill will be controversial and it is unclear who in the Legislature has bought into it, though the Governor signaled his general support for this sort of approach in a press conference last night announcing the results of the power auction. The Assembly is scheduled to have a hearing on the bill later today. Will pass on more info as we get it. Jeff

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OUT:
New Bill Introduced in CA Legislature