Sandi and Dave and Mike will dicuss further on the call on Monday but wanted  to disseminate info regarding the meeting that Joe Ronan of Calpine offered  on an IEP call today:  The meeting was attended by a lot of folks of all stripes.
Wright was very critical of how the Governor is handling the issue and wants  to craft a solution with the industry and then invite the Governor to get on  board.
Wright threw a whole laundry list of options on the table for folks to  consider (Dave's typing up his notes from the meeting for distribution later  today) One of Wright's key concern is forward contracting.
The utilities said that Loretta Lynch is the problem with the onerous  "prudence" criteria she's imposing on utility forward contracts.
Those onerous criteria keep the utility from contracting.
Much discussion of what California does on the gas side,  i.e., set an  objective benchmark price; if the utility beats it, they profit; if they do  worse, they take the hit.
The utility, under this framework, has broad  flexibility to contract forward, i.e., PUC gets out of the way.
(FYI:   Coincidentally, I suggested this approach in very broad terms--pointing to

IEP Info on Industry Meeting with Rod Wright

Sandi and Dave and Mike will dicuss further on the call on Monday but wanted to disseminate info regarding the meeting that Joe Ronan of Calpine offered on an IEP call today: The meeting was attended by a lot of folks of all stripes.
Wright was very critical of how the Governor is handling the issue and wants to craft a solution with the industry and then invite the Governor to get on board.
Wright threw a whole laundry list of options on the table for folks to consider (Dave's typing up his notes from the meeting for distribution later today) One of Wright's key concern is forward contracting.
The utilities said that Loretta Lynch is the problem with the onerous "prudence" criteria she's imposing on utility forward contracts.
Those onerous criteria keep the utility from contracting.
Much discussion of what California does on the gas side, i.e., set an objective benchmark price; if the utility beats it, they profit; if they do worse, they take the hit.
The utility, under this framework, has broad flexibility to contract forward, i.e., PUC gets out of the way.
(FYI: Coincidentally, I suggested this approach in very broad terms--pointing to
governor board wright discussion california does concern forward contracting mike dicuss set objective benchmark broad terms price laundry list options coincidentally iep today meeting