The call was pretty tough. 
Quick side bar:  Edison is very concerned about TURN getting a stay from the court on the EIX/PUC settlement .
At the start of the call, Fielder said that he'd fax me the judge's ruling in the TURN appeal, but based on how the call went, I'm not sure if he'll send it. 
As we conjectured sometime back, Edison is indeed talking about charging us (through a reduced PX credit) for our "share" of the undercollection.
Our "share" would be paid down through a reduction in the PX credit over the life of the settlement (presumably about 2-3 years).
In short, with one hand Edison would pay us what they owe us; with the other hand, Edison would take it back.
Edison intends (as we conjectured) to base the amount of the undercollection owed by DA customers on the percentage of load they represent (e.g., if DA is (was) 10% of the load, they would pay for 10% of the undercollection).
We had a very "animated" discussion that went back and forth for some time.  
I told him that there's been some gross misunderstanding since his proposal simply doesn't track.
Fielder said that they believe their argument is solid.
Here's how we left it--he's going to get back to us by COB today or tomorrow and tell us what Edison's calculation is of our "share" of the undercollection.
We can discuss further on the call that Wanda's setting up for tomorrow.

If you have any questions between now and then, 	give a holler.

Best,
Jeff