california order proxy price calculation fyi forwarded richard shapiro na enron 04 27 2001 01 07 pm jackie gallagher 04 27 2001 11 59 30 cc subject california order proxy price calculation memorandum regulatory affairs committee power marketers working group joe hartsoe regulatory affairs committee chair bob reilley power marketers working group chair julie simon vice president policy mark bennett senior manager policy erin perrigo manager policy date april 27 2001 california order proxy price calculation initial opportunity review ferc order establishing prospective mitigation monitoring plan california wholesale electric markets establishing investigation public utility rates wholesale western energy markets provide detailed summary early next week however questions arisen calculation proxy price stage 1 2 3 emergency called initial discussions ferc staff determined price mitigation work follows following day iso publish 8 average daily prices published gas daily california delivery points well emissions costs emissions costs calculated iso using cantor fitzgerald environmental brokerage service marginal unit determined via single price auction hour iso take previously submitted confidential heat rate data multiply posted average gas price emissions costs hour determine market clearing price iso calculating estimated market clearing price advance