Q. What is the most likely approved methodology for calculating the PX credit after Jan 18?

A.  The utility's weighted average acquisition cost, excluding DWR.  Will include retained generation, ISO purchases, QF purchases.  Will exclude DWR because these were not purchases made by the utility.

Q.  What is the likelihood that the CPUC will order the utilities to implement the post-January 18 PX credit methodology by re-billing rather than prospective adjustments?

A.  Credits are likely to be calculated on a customer specific basis and applied to future billings for that customer.  

Q. Will the PUC allow PG&E and SCE to modify the historic PX credit calculations (from Oct 2000 through June 2001) based on the FERC refund decision for California energy markets?

A. Yes.  Agree with Sue's comments. Implementation should be same as above question.

Q.  What is the likelihood that the CPUC will order PG&E and SCE to reinstate Enron's outstanding Net Bill amounts if the utilities fail to?  And, will the CPUC order PG&E and SCE to allow this Net Bill amount to be applied against future payments for T&D?

A. Credits will be re-instated but on a customer by customer basis.  In other words, the credit shows up on a customer's bill, not some Enron bill.

Q. What is the likelihood that the CPUC will modify its application of the 1 cent surcharge to direct access customers (a) retroactive to January 4, 2001 or (b) retroactive to March 27, 2001 or (c) prospectively?

A.  Very low.  At best, PUC makes the change retroactive to June 1, which is when the 3 cent surcharge was billed.  If the PUC reversed itself, most likely would be prospective.