FYI regarding the Commission meeting to be held this afternoon.  Ray

---------------------- Forwarded by Ray Alvarez/NA/Enron on 06/18/2001 09:43 AM ---------------------------


John Shelk
06/18/2001 08:15 AM
To:	Steven J Kean/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, James D Steffes/NA/Enron@Enron, Linda Robertson/NA/Enron@ENRON, Tim Belden/Enron@EnronXGate, Alan Comnes/Enron@EnronXGate, Kevin M Presto/Enron@EnronXGate, Robert G Johnston/Enron@EnronXGate, Tom Briggs/NA/Enron@Enron, Pat Shortridge/Corp/Enron@Enron, Carin Nersesian/NA/Enron@Enron, Sarah Novosel/Corp/Enron@ENRON, Ray Alvarez/NA/Enron@ENRON
cc:	 

Subject:	White House To Support FERC Action Today

According to this morning's Washington Post, the Bush Administration will support the expected FERC action today of extending the existing California price mitigation regime to 10 other Western states and to all days/all hours, not just during California emergencies (stages 1, 2 and 3).  This action comes only a day before FERC and other witnesses will  testify on the Feinstein/Smith price cap legislation before the Senate Energy Committee, Gov. Davis and FERC will  testify before the Senate Governmental Affairs Committee on Wednesday, and the House Financial Services Committee joins the fray with a hearing on the California energy situation on Wednesday.  The latter committee will probably base its jurisdiction over some aspect of energy policy on a number of factors, including its jurisdiction over presidential economic emergency powers.  The committee staff has in the past expressed interest in derivatives and other financial aspects of energy trading and markets.  We are checking now to quietly determine whether these issues will be on Wednesday's agenda.