As Gary Ackerman requested this afternoon, attached is a summary of the  FERC 
Order issued yesterday which rejected the SDG&E price cap complaint and  
commenced a proceeding which will involve hearings regarding the operation 
of  the California market, problems with ISO and PX tariffs and resolve any 
defects  in the operation of competitive power markets in California.
?
Please call or write if you have  any questions about the attached memo or 
the Order itself.
?
Dan

>>>  "Gary Ackerman" <foothi19@idt.net> 08/24/00 02:37PM  >>>
Folks,

Today the FERC issued an Order on SDG&E's  complaint to cap generator
bids at $250, and they did so not only with a flat  denial, but also by
opening a Section 206 Proceeding to investigate  California's wholesale
power markets.  That means there will be full  evidentiary hearing at
FERC regarding California's wholesale market.  WPTF is  an intervenor in
the case, and I think we should discuss WPTF's strategy and  position on
this case before the next Board meeting (September  12).

Toward that end, I have asked Rob Lamkin, our Chairman, to establish  
date for a Board teleconference call to discuss our position, craft  
motion, and vote.  I have also asked Dan Douglass to review the  attached
Order of FERC (both docs are the same, but slightly different  computer
format), prepare a summary, and to prepare an estimate for  WPTF's
participation.  I would be more than happy to be a witness in the  case.

I am also sending this notice to our general member representative  who
may wish to be participants in our pleading.  Whereas the  general
members can not vote on WPTF's major positions, they can participate  in
the case development, funding, and preparation.

I will inform you  of the date and time for our teleconference Board
meeting in a later  e-mail.

gba
 - Summary of Order of 8-23-00.doc