FYI.  Bob Williams should be touching base with you; or it would be useful 
for you to touch base with him.  Edison appears to be staking out it's 
negotiating position with us through their filing.  

In short, they "recalculate" the PX credit post-Jan. 19 (when DWR took over 
procurement).  That recalculation turns our $125 MM dollar PX credit claim 
into $63MM.  So we're pretty far apart.  

We agreed at this point to oppose the filing and say:

1) through the end of the rate freeze, or end of 3.31.02, the status quo 
remains--"PX credit" based on market price (Dow Jones index).
2) however, if you want to go "utility purchase" price as the basis for the 
credit, then it must be the utility's full cost of power (retained 
gen+QFs+DWR+ISO real time).
3) negative credit during the transition can still occur.
3) Edison's proposal should be rejected.

Best,
Jeff