MEMORANDUM

TO: Regulatory Affairs Committee
       Power Marketers Working Group

FROM: Jim Steffes, Regulatory Affairs Committee Chair
            Bob Reilley, Power Marketers Working Group Chair
            Julie Simon, Vice President of Policy
            Erin Perrigo, Manager of Policy

DATE: November 26, 2001

RE: EPSA Draft Request for Extension of Time to Submit 
      Comments on Market-Based Rate Tariffs and 
      Authorizations Order
      ? Requests due TOMORROW

Attached is EPSA's draft request for an extension of time to submit comments in the Order Establishing Refund Effective Date and Proposing to Revise Market-Based Rate Tariffs and Authorizations that was issued on November 20th.  Comments are currently due 15 days from the date of the Order; however we are asking for 30 days, or January 5, 2002 with reply comments due on February 5, 2002.

We highlight the Order's undesirable and unintended effects that do nothing to support basic market conditions such as including many buyers and sellers, price transparency, liquidity and legal and regulatory stability.  The draft also notes that the Commission's Order will reap severe policy and legal implications and will devastate the competitive power industry as it stands today. 

We intend to file the request for extension tomorrow and also encourage others to file in support of this filing or making similar requests.  The effects of this Order may not be well understood by the Commission or others in the industry - we need as much time as possible to dissect and educate on how this will affect the market.  If you have anything to add, please contact Erin Perrigo first thing in the morning on Tuesday, November 27th at eperrigo@epsa.org or 202-628-8200.  We will hold a conference call on Friday, November 30th at 1:30 p.m. (EST) to discuss our strategy moving forward on the market-based rate matter.  To access the call, dial 1-800-937-6563 and ask for the Julie Simon/EPSA call.