text_combined: california update 7 26 01 p 3 current provisions keeley hertzberg wanting pass legislation return recess currently sure amendments would wrapped one bill would amend bill sb 78 xx introducing new bill sb _ xx working assumption would amend bill 78 xx introduce new one following issues reflection current positions decide introduce one new bill issues would included one piece legislation please remember issues current thoughts change socal debt sb _ xx provision debt sb 78 xx amended approximately 2 9 b corporate bond financing supported dedicated rate component drc period time sufficient pay bonds 10 15 years final debt amount established puc state auditor core vs non core sb _ xx purposes paying socal debt creates core program consumers peak demand less kw non core customers kw would share cost socal debt retirement 1 consumers share pro rata first two years 2 non core pay 100 two years sb 78 xx amended provisions transmission system purchase sb _ xx sb 78 xx purchase transmission assets conservation easements sb _ xx conservation easements sb 78 xx amended specific conservation easements land arrangements described bill 24 000 acres per governor mou direct access sb _ xx removes regulatory constraints direct access program effective january 1 2002 permits customers buy power net short socal native generation bilateral contracts dwr contracts residential small commercial customers may use direct access renewable energy sources sb 78 xx amended provisions direct access ratepayer benefit account sb _ xx deposits account refunds net cash resulting refunds ordered ferc litigation b positive dwr power fund revenues refunded ratepayers either bill credits rate reductions proportion march 2001 puc rate increase sb 78 xx amended create ratepayer benefit account electric supplier claims settlement trust sb _ xx sb 78 xx create trust trustee negotiate reductions renewable energy sb _ xx creates renewable portfolio standard rps achieve target 10 new generating capacity additions 2010 overall 20 statewide total generating capacity 2010 munis exempted rps sb 78 xx amended provisions renewable energy