Southern California Gas declared a high-linepack OFO effective with Timely Cycle nominations for Saturday. Deliveries into the system were to be limited to no more than 110% of nominated volume.
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CPUC Commissioner Submits Alternate PG&E Rate Decision
In a move that could break loose a California Public Utilities Commission (CPUC) decision on the $300 million-plus 2003 general rate case of Pacific Gas and Electric Co., CPUC Commissioner Geoffrey Brown late last week released a new alternate decision on the case that was settled by the utility last year. Comments on the alternate are due by May 20 to the CPUC and it could be considered by the regulators at their next regular business meeting May 27.
Transportation Notes
In addition to a high-linepack OFO for Friday’s Evening Cycle nominations, Southern California Gas declared an additional OFO for the Timely Cycle on Saturday.
CA OFOs Sink Western Prices; Market Mixed in East
High-linepack OFOs by both of California’s major transmission/distribution systems (see Transportation Notes) sent price tremors throughout the West Thursday, with nearly all regional points down by as much as about 20 cents. In the East, quotes were mixed fairly closely to either side of flat, although a few Midcontinent pipes fell by as much as a dime or so.
CPUC Majority Approves PG&E Bankruptcy Exit Accounting
The sharply divided California Public Utilities Commission Thursday approved the accounting steps Pacific Gas and Electric Co. needs to put its reorganization plan in effect for its scheduled April 12 exit from three years in Chapter 11 bankruptcy. The five-member CPUC’s vote was 3-0 with two dissenting members abstaining.
Transportation Notes
Southern California Gas issued a high-linepack OFO for Friday’s Evening Cycle nominations, but did not have one in effect for Saturday’s gas day. The OFO carried a 10% tolerance for positive imbalances.
Transportation Notes
With linepack building as recent record-high temperatures in California ease, Pacific Gas & Electric issued a systemwide Stage 2 high-inventory OFO for Thursday. The tolerance for positive daily imbalances is zero, and penalties are $1/Dth.
Transportation Notes
Neither Southern California Gas nor Pacific Gas & Electric extended high-linepack OFOs beyond Saturday.
Transportation Note
Southern California Gas declared a high-linepack OFO for Saturday. Its utility neighbor to the north, Pacific Gas & Electric, did not issue an OFO despite projecting that linepack would bump up against its maximum target levels Sunday and Monday.
CPUC Approves Modified Settlement for PG&E Utility Bankruptcy Solution
In a packed business meeting in which anti-utility sentiments were palpable, California regulators Thursday narrowly (on a 3-2 vote) approved a modified settlement agreement for Pacific Gas and Electric Co. to emerge from bankruptcy, paying off $12 billion to its creditors and regaining an investment-grade credit rating. The action follows a last-minute compromise between the utility and the state’s leading utility consumer group, requiring state legislation to realize an estimated $1 billion in savings for PG&E’s retail electric utility customers.