The PX proposed its price cap to become effective on the earlier of October 
22.

FERC issued a letter requiring the PX to file (and serve on all intervenors 
(including EPMI)) the following proof by October 20th:

Any data demonstrating market distortions without the price caps
Any data indicating that in certain hours the PX prices have not been 
disciplined by the ISO's prices
Any data demonstrating that the CalPX Day-of and Day-Ahead and the CalISO 
Real time markets do not operate in an inter-related manner.

Since the data is due on a Friday and the proposed effective date is a 
Sunday, its seems unlikely that FERC will have enough time to act on the 
proposal before the effective date unless FERC has the order already 
drafted.  Either they're just trying to cover themselves or they're trying to 
find a reason to reject the filing.  

Ron - please make sure we get this information as soon as it's filed.


From: Jeff Dasovich@ENRON on 10/13/2000 10:08 AM CDT
To: Jeannie Mandelker/HOU/ECT@ECT
cc: David Parquet/SF/ECT@ECT, Mary Hain/HOU/ECT@ECT 
Subject: Re: Update on Calif PX price cap  

My understanding is that the cap is $2500, but that the PX has filed with 
FERC to change it ot $350.  My understanding is that FERC has not acted on 
the request to change it to $350, but I could be wrong.  Dave, Mary, is this 
your understanding?



	Jeannie Mandelker@ECT
	10/13/2000 08:03 AM
		 
		 To: Jeff Dasovich/NA/Enron@Enron
		 cc: Eric Thode/OTS/Enron@Enron
		 Subject: Update on Calif PX price cap

Dave Parquet read a story we have for ENA's customer magazine, Exchange, 
about California Power problems.

He says we may have the price cap wrong for the PX.  We have $2,500 for the 
PX and $250 for Cal-ISO.

Are those figures accurate? He says the PX applied to FERC for a $350 cap.

Please advise ASAP as this publication has gone to press and I'm not even 
sure we can change it.

Thanks,
Jeannie