----- Forwarded by Jeff Dasovich/NA/Enron on 03/14/2001 04:53 PM -----

	Jean Munoz <jmunoz@mcnallytemple.com>
	03/14/2001 03:44 PM
		 
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		 cc: 
		 Subject: IEP responds to Burton/Dunn investigation on market manipulation


As you know, ?Senator Burton held a press conference announcing Joe Dunn 
chair of new senate committee to investigate energy market manipulation in 
the wholesale energy market. ?Other members serving on the committee include: 
?Debra Bowen, Martha Escutia, Maurice Johannessen, Sheila Kuehl, Bill Morrow 
and Byron Sher. 

The Committee's information gathering activities will begin immediately, and 
the first hearing of the committee is planned for the first week in April. 
(press release attached)

IEP responded with the following statement, and Jan responded to TV, Radio 
and Print media immediately following the news conference at the state 
capitol.

Thanks,
Jean

-- 
Jean Munoz
McNally Temple Associates, Inc.
916-447-8186
916-447-6326 (fx)



______________________________________________________________________________
_____________
Contact: ?Jean Munoz 
??????????????????????????????????????????????????????FOR IMMEDIATE RELEASE
????????????????916-447-8186 
??????????????????????????????????????????????????March 14, 2001

 


Statement by Jan Smutny-Jones,
Executive Director of Independent Energy Producers, 
in Response to State Senate Energy Probe
 


"We understand that it is the responsibility of the legislature to ensure 
that California ratepayers are protected . and we will fully cooperate, as we 
have with other investigations, because we have nothing to hide.

"We believe this investigation will find nothing except that power producers 
have been working around-the-clock to help keep the lights on in California. 
?In fact, there have already been several investigations by the Federal 
Energy Regulatory Commission the Public Utilities Commission and the 
California Independent System Operator . and they have found no evidence of 
withholding or wrong doing.

"As we have continued to state: the industry does not condone business 
practices that lead to unreasonable prices. ?It is our objective to help 
create a stable regulatory environment in which robust retail markets can 
flourish to protect ratepayers.

"This crisis can only be resolved if we all work together to find solutions 
and stop pointing fingers, which only creates an unstable political and 
regulatory environment which will do nothing to increase supply or reduce 
demand in California.

"If this turns into, in fact, a @witch-hunt? against generators who have been 
providing electricity to California for months despite being owed billions of 
dollars, my only question is who in their right mind would come to California 
and invest in building new power plants? ?This sends a dangerous and chilling 
signal to not only power providers, but anyone doing business or planning to 
do business in California."
 


# ????????# ???????#
 



 - Burton Press Release