california update 4 9 01 know far recent announcement deal socal state transmission lines deal may enough save socal bankruptcy depend payment terms well soon socal receive positive cash flow sure state really deal without pg e deal whole grid thought transmission asset deal possible without pg state may still making deal contingent upon purchasing pg e assets generator source reports state intending put pressure bankruptcy court close deal pg e lines quickly however bankruptcy courts usually operate manner cases court would hold open proceedings competitive bids etc purchase would need legislative approval guaranteed previously plan state purchase sce pg e assets premium would finance power purchases utilities would able buy power would purchase sce lines still finance power purchases pg e additionally possible socal swapped clause allowing raise rates order recoup past debt favor additional book price form utility bailout would probably gain legislative approval purchase would also need ferc approval stated ferc approves plan would several conditions california