Initial Decision of an SEC Administrative Law Judge
APPLICATIONS OF ENRON CORP.
INITIAL DECISION RELEASE NO. 222
ADMINISTRATIVE PROCEEDING
FILE NO. 3-10909
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
_________________________________________________________________
In the Matter of
APPLICATIONS OF ENRON CORP.
_________________________________________________________________
INITIAL DECISION
February 6, 2003
APPEARANCES
PARTIES
William S. Lamb, Charles A. Moore, Sonia C. Mendonca, David Koogler,
and Michael W.E. Didriksen for Enron Corp.
Paul F. Roye, David B. Smith, Jr., Catherine A. Fisher, M. Cathey
Baker, David G. LaRoche, Deborah D. Skeens, Alberto H. Zapata,
Christopher W. Chow, and Arthur S. Lowry for the Division of
Investment Management, Securities and Exchange Commission
Hardy Myers and Jason W. Jones for the Public Utility Commission of
Oregon
LIMITED PARTICIPANTS
Julie Simon and Mark Bennett for Electric Power Supply Association
Clifford M. Naeve, Paul Silverman, William C. Weeden, David L.
Schwartz, and Julie B. Greenisen for FPL Group, Inc. and
Sithe/Independence Power Partners, L.P.
J.A. Bouknight, Jr., Cynthia L. Taub, James B. Woodruff, J. Eric
Isken, and Russel C. Schwartz for Southern California Edison Company
BEFORE Brenda P. Murray, Chief Administrative Law Judge
SNIPPETS:
Initial Decision of an SEC Administrative Law Judge
APPLICATIONS OF ENRON CORP.
SECURITIES AND EXCHANGE COMMISSION
Hardy Myers and Jason W. Jones for the Public Utility Commission of Oregon
Julie Simon and Mark Bennett for Electric Power Supply Association
On October 7, 2002, the Securities and Exchange Commission issued an Order Scheduling Hearing
On April 12, 2000, Enron filed for an exemption under Sections 3and 3of the Public Utility
Edison Reply Brief at 7.)
PUHCA Section 3.
The Commission's Division of Investment Management did not cross-examine or present any
Electric Power Supply Association, FPL Group, Inc., Sithe/Independence Power Partners, L.P.,
On or about January 7, 2003, the parties made the following filings, which I will refer to as
Enron will seek to withdraw these applications upon receipt of approvals from FERC, the
Enron cites the following to prove Portland General Electric Company is predominantly
able contributions are made substantially to Oregon groups; retail revenues are exclusively from
Enron contends that a finding that Portland General is not predominantly intrastate in
Portland General records its wholesale purchases and sales in FERC accounts for non-utility
It would be a mistake to view Portland General's interstate wholesale sales out of the
wholesale sales are simply how Portland General manages its inventory in support of its
It makes a minor contribution to earnings and enables us to stay on top of wholesale markets
It notes that gross operating revenues is one of the factors that the Commission has used to
These limited participants argue that if the Commission denies the applications, it should
(Exhibit IM-3 at 17 n.14.)
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