FYI.  Here's the release that I referenced yesterday evening.
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		CONTACT:
		
		Armando Rend?n
		December 13, 2000
		CPUC: 103
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		415-703-1366
		
		abr@cpuc.ca.gov
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		CPUC PRESIDENT LYNCH AND COMMISSIONER DUQUE STATEMENT 
		California Public Utilities Commission (CPUC) President Loretta Lynch and 
Commissioner Henry Duque today issued a statement regarding revisions to item 
8 on the Commissioner agenda of December 21, 2000:
		We note certain revisions to the Commission's published agenda for December 
21st. Item 8 has been revised to reflect the scope of options available to 
the Commission in addressing current financial conditions facing Pacific Gas 
and Electric and Southern California Edison. The financial problems faced by 
California's utilities are the result of the failure of the wholesale 
electric market to ensure just and reasonable prices for this necessity. The 
Commission need not act on this agenda item on December 21st, but the fact 
that it is on our agenda allows the Commission to act if necessary. 
		The financial stability of California's utilities is of paramount importance 
to California, and to this Commission. The CPUC stands ready to act to 
protect the financial viability of California utilities. The exorbitant and 
unjustified prices now being charged in California's electricity market 
demonstrate the necessity for the Federal Energy Regulatory Commission (FERC) 
to intervene and control the opportunism of the electricity sellers. FERC 
must act to solve the underlying market failure so that all energy consumers 
are assured of reliable delivery of power and protected from exorbitant 
energy costs. We urge FERC to act immediately. 
		For information on this item, please contact Harriett Burt, Deputy Chief of 
Staff for Loretta Lynch at 415-703- 2444, Mary Lou Tousey, 415-703-2593, or 
Commissioner Carl Wood, 415-703- 2440.
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