I will be sending to changes to Ron's draft as I write them.   Here's the 
first one:

Under the bullet about the soft cap, cross out the language saying "At a 
minimum the Commission should raise the cap to $250 per MWh," and insert: "As 
detailed in the attached analyses, price caps only interfere with the price 
signals so necessary to the proper functioniung of the California markets.  
Nonetheless, if the Comission accepts a price cap, the $150 level is too low 
and the Commission must determine a level that will ensure the recovery of 
costs and give market participants the proper incentives to participate in 
the California ISO and PX market."