pending ferc order west wide mitigation following report comprised discussed commission meeting held yesterday additional intelligence gathered ferc staffers meeting awaiting final order update report soon issues generally order expected expand scope commission april 26 order report highlight differences geographical scope mitigation extended cover 11 western states term term order extended cover 2 summers expect order issue today order take effect midnight tonight continue effect 9 30 02 spot market defined sales 24 hours less transacted day delivery day prior delivery must sell prevent physical withholding plan require sellers offer available power real time california generators even subject ferc price regulation required sell iso real time market sellers rest wscc similarly required sell except required sell california choose spot market required post available power western systems power pool board hydroelectric facilities continue exempted price mitigation expanded place 24 hours per day 7 days per week applies sellers including marketers non public utilities plan retains single market clearing price auction spot market based marginal cost bids proxy price formula changed several respects 1 gas price average mid point monthly bid week prices reported gas daily malin socal gas large packages pg e city gate 2 provided marketers may bid proxy price ferc consider entire portfolio seller seeks justify higher price proxy generators may seek cost based rates entire portfolio ca choose e cherry picking demand side management plan originally set forth april 26 order expected removed order iso reporting iso need report quarterly basis status building supply ca comments comments sought issue whether price mitigation formula adjusted response expected varying load conditions due seasonal changes settlement conference settlement judge convene settlement conference refund issue later june 25 next monday parties 15 days settle report judge commission due 7 days thereafter total 22 days issues expected addressed order include confidentiality iso board issues iso scheduling penalty application market based rate authorization order finally issued yet status foregoing items could change upon issuance final order keep posted ray alvarez