text_combined: california update 9 14 2001 questions comments regarding report please contact g britt whitman ex 5 4014 kristin walsh ex 3 9510 executive summary senate may seal socal fate socal edison eyeing bankruptcy california senate additional two dissenting democrat votes would effectively block ab 67 xx consumer advocates adamantly oppose bill lacks state ownership hard transmission assets burdens residential consumers excessive rates optimistic bill defeat senate despite circumstances highly conceivable senate could pass along virtually ineffective inadequate bailout package assembly approval burton reportedly avoiding discourse davis ab 67 xx hours pass ever closer midnight deadline burton likely introduce bill floor vote hurriedly adjourn senate bill passes assembly bare difficult task either accepting bill reject bill risk socal bankruptcy believe bill makes assembly ab 67 xx pass despite strong opposition ctma consumer advocates current vote count available assembly expect assembly debate bill early hours saturday morning inside edison still strong indications even bailout plan passed socal voluntarily file bankruptcy creditor likely generator take bankruptcy socal remains concerned due number contingent claims cash dwr etc appear likely try protect cash flows generators perspective plan passed bank creditors get paid also dwr iso resolved even amount owed generators power provided year let alone paid total amount owed iso approximately 2 b nonetheless generators remain federal order provide power state deal passed leaving little money socal pay generators leave little means satisfaction filing socal socal privately indicated senators ab 67 xx fails include consumer using 100 kv base dedicated rate component socal forced file bankruptcy inability effectively securitize bailout bonds socal feels rate base small risk businesses fleeing state high ctma also indicated members may leave state avoid pay extra surcharge power socal communicated position whether 400 million trim original 2 9 b puts bankruptcy estimate additional 400 million hit indeed much bear would prompt voluntary bankruptcy petition