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A conference call has been scheduled for Monday, April 23, at 1 P.M. EASTERN 
to discuss possible rehearing/clarification of FERC's decision to defer to 
the state court proceedings on the Uncontrollable Issues and BFM 
Commandeering issues.  Also, we will discuss whether to include a request 
(for clarification/enforcement?) that FERC reject the PX's position that it 
is not presently required to return the collateral to market participants.  
(See attached PX letter).

The call-in information is:

Dial in number: 1-800-432-2198

Participant code: 770394

 - Cal PX 4-12 Letter.tif