california 5 25 executive summary legislators parties scared fiscal meltdown looking realistic plan b keeley plan likely vehicle would include 30 generator haircuts revenue bonds backed dedicated rate component despite uncertainty dealing transmission lines continued oppostion burton consumer group allies keeley plan probably pass legislature generators support plan get clearer guarantees state investigations lawsuits end pg likely take one two weeks likely closer two move deal assembly senate governor desk introduced 2 would new plan b look like modified plan b deal originate assembly almost certainly include dedicated rate component pay socal undercollect revenue bonds issued securitized dedicated rate component also likely generators would offered 70 cents dollar owed immediately possibility win litigation sources report state fairly confident least generators would successful winning additional money assembly speaker keeley reportedly remains driving force behind plan drawn within office 3 transmission lines remains unclear time whether transmission line purchase option purchase put deal since major point contention democrats republicans according sources assembly working 4 plan looks good pass assembly senate according sources vote count passing deal containing components except transmission line purchase yet settled looks good vote senate would close senator burton still opposes bail deal reportedly might stand way others voting plan making passage likely even opponents plan including burton consumer advocates say odds modified plan b passing senate better 50 50 opponents reportedly pessimistic chances stopping plan b passing point 5 caveat generators waiting guarantees witch hunt end reported previously sources continue believe generators would reluctant take 70 cent dollar haircut without state offering relief prosecution without relief state could give 70 cents try take away even sources report even opponents plan accept generators offered relief prosecution thus appears likely time generators would accept 30 percent haircut paid immediately also sources believe securitization dedicated rate component offered modified plan b would sufficient pay back generators successfully litigated win 70 cents dollar sources believe socal edison creditors likely forebear filing involuntary bankruptcy long enough plan go since would pay back owed 6 pg e could also dealt plan succeeds almost certainly taken bankruptcy court offered pg e part reorganization plan plan offered time within pg e period exclusivity 90 day period though often extended following filing bankruptcy petition however sources report state concerned approach bankruptcy court based supreme court precedent legal sources within state reviewing state would likely lose sovereign immunity entered party bankrutpcy court problem stakes case high 7 bailout bill would require follow legislation new rate structure even state passes signs socal bailout would still need pass rate structure would allow socal pg e flow cost increases prevent facing bankrtupcy therefore plan make crisis go away