Hi Kari:  

I know that you and I are both swamped, so I'm writing very briefly to give 
you a brief update.  But first, thank you very much again for meeting last 
week.  Greatly appreciated, and look forward to working together to help in 
any way I can to find solution that is acceptable to all. Here's the update:

Our "subcommitte" is meeting tomorrow to try to close the deal on a proposed 
solution.  It focuses on 3 key areas:

Using the utilities retained assets to moderate prices.
Designing a framework for forward contracting that strikes a much more 
appropriate balance in CA between state oversight and the need for utility 
flexibility.
Rate stabilization/Undercollections (utility solvency)

I will update you tomorrow on the group's progress.  If thing's go according 
to plan, we may be in a position to submit something to you a early as 
Monday.  If there's a deadline from your end that I ought to be aware of, let 
me know and I'll incorporate it into the subcommittee's work plan.

In the meantime, if there is anything at all that I can do to help, please 
don't hesitiate to contact me.

Thanks again and all the best,
Jeff