California Senator Feinstein, Governor Davis,  Secretary of Energy 
Richardson, and FERC Commissioner Hoecker held a joint press  conference 
related to the California energy problem.? They indicated a  critical need 
for supply TODAY to serve the California marketplace.?  Secretary Richardson 
indicated he will exercise his emergency power under the  Federal Power Act 
[section 202(c)] to direct generation to California.? The  Secretary 
indicated that DOE, under the FPA, will set a fair price for the  power.
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IEP requests all its members to  deliver?as much generation as possible to 
California ASAP in order to avert  potential shortages.? 
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In addition, the Governor and Senator Feinstein  called for regionwide price 
caps and mandatory, reasonable long-term contracts  between generators and 
the utilities.? They made the point that 4,000 -  5,000 MWs are being 
exported from the state, currently a lack of adequate  planning and 
scheduling of resources/planned outages exists, and indicated that  the CPUC 
would moved to implement forward contracting.? 
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IEP will forward the formal statement from the  Press Conference (or a 
summary) as soon as available.