----- Forwarded by James D Steffes/NA/Enron on 03/16/2001 01:30 PM -----

	Chip Schneider/ENRON@enronXgate
	03/16/2001 11:39 AM
		 
		 To: Rick Buy/ENRON@enronXgate, David Gorte/ENRON@enronXgate, William S 
Bradford/ENRON@enronXgate, Christopher F Calger/PDX/ECT@ECT, W David 
Duran/HOU/ECT@ECT, Terry W Donovan/HOU/ECT@ECT, George 
Schaefer/HPL/Enron@Enron, Greg Blair/Corp/Enron@Enron, James D 
Steffes/NA/Enron@Enron, Alan Comnes/PDX/ECT@ECT
		 cc: 
		 Subject: FW: Research - CA Utilities



 -----Original Message-----
From:  Power, Keith E.  
Sent: Friday, March 16, 2001 8:44 AM
To: Schneider, Chip; Tribolet, Michael
Subject: Research - CA Utilities

Comments attached from Morgan Stanley and Merrill Lynch on events from 
yesterday.

? Coram Energy, a small QF, will sign an involuntary bankruptcy petition 
against Southern California Edison. A Coram spokesman stated that the 
petition is being circulated to five other QFs (which were not named) and 
that it could be filed as soon as next week.  If filed, the utilities would 
have 20 days to respond, perhaps another 30 days to contest the filing.

? California PUC voted to block Edison and PG&E,s layoff plans.  The ruling 
requires the companies to halt planned layoffs and to rescind those already 
made.  Edison had cut 400 jobs, with plans to cut 1,450 more.  PGE had laid 
off 325, with plans to cut a further 675.

? Proposed QF contract legislation (SB-47X) remains stalled in the State 
Senate Energy Committee.  In a perverse and &vicious-circle8 type twist, lack 
of QF payments to date have forced many off line, reducing supply and driving 
up prices.

? National Oceanic and Atmospheric Administration,s spring forecast.  The 
NOAA reported that the Pacific Northwest has experienced one of the driest 
winters on record, second only to 1976-77.  Reservoir levels continued to be 
below normal for the end of February and mountain snowpacks in many river 
basins are less than 70% of normal.