Jill Horswell, the head of trading at SCE, just called.  She said the CEO of 
SCE asked her to call around and see if energy marketing companies would be 
interested in offering the "Duke SDG&E Structure," (i.e full requirements at 
$60/MWhr) to SCE.  I told her that that would be a big bite for anyone, and 
that the price would be well north of $60, but we would be interested in 
coming up with a structure for their consideration if they wanted to take 
this a step further.  

We decided in the case of SDG&E that we didn't have an interest in a true 
full requirements deal given the size (3,000 MW) and the difficulty in 
managing the load fluctuations, credit risks, etc.  The size and scope of a 
similar deal with SCE (20,000 MW) would be even more daunting.  

Is this an opportunity to propose a new market structure for serving load to 
try to build part of the solution to California's energy woes?  How should 
the default provider be determined?  How can credit and load fluctuation 
risks be managed?  Can we build a consortium of market support amongst our 
fellow defendants (i.e Duke, Southern, et al)?

Let me know what you think.

Chris