6. Assignment of Proceeding

Michael R. Peevey is the assigned Commissioner and Hallie Yacknin is the assigned ALJ in this proceeding.

Findings of Fact

1. SCE does not identify any new facts or law that merit reconsideration or modification of the findings of fact, conclusions of law, or ordering paragraphs set forth in D.08-04-011 and D.08-09-041.

2. All parties were duly served with the petitions for modification, and no party filed a response or opposition to them or otherwise sought to exercise their due process rights.

3. Notice of the petitions appeared in the December 12, 2010, Daily Calendar, and no person moved for party status to respond or object to the petitions or otherwise sought to exercise their due process rights.

4. Based on forecasts of the value of capacity, energy and ancillary services under 25 different electric power price scenarios (based on five heat rate scenarios and five natural gas price scenarios) and their associated probabilities, the net present value of the amended CPV contract is better than the original, combined CPV Sentinel I and II contracts.

5. SCE continues to need the new generation represented by the amended CPV contract in order to meet system reliability needs.

6. SCE's Independent Evaluator participated in all aspects of the amended CPV contract and concluded that SCE acted in an appropriate, fair and unbiased fashion in its negotiations.

7. SCE consulted with its CAM Group regarding amending the CPV Sentinel I and II contracts and the finalization of the amended CPV contract, as required by D.07-12-052.

8. The amendments to the CPV Sentinel I and II contracts are attributable to actual and expected cost changes that have impacted the project and do not result in material increases in profit for CPV or risk-shifting from CPV to all benefitting customers.

Conclusions of Law

1. SCE's requests to modify D.08-04-011 and D.08-09-041 should be denied.

2. The proper vehicle for seeking approval of amendments to a contract that was approved by a prior Commission decision is, in general, by new application.

3. As parties and the public had notice of the petitions and no person responded or objected to the requested relief or otherwise sought to exercise the rights that would be due them if the Commission required SCE to file an application, there is no prejudice caused by the Commission's approval of the amended and restated contract without requiring SCE to re-file its request as an application.

4. The amended and restated contract with CPV Sentinel, LLC, which is an amendment, restatement and consolidation of the CPV Sentinel I contract previously approved in D.08-04-011 and the CPV Sentinel II contract previously approved in D.08-09-041, should be approved.

5. These consolidated proceedings should be closed.

6. This order should be effective immediately.

ORDER

IT IS ORDERED that:

1. Southern California Edison Company's amended and restated contract with CPV Sentinel, LLC, is approved.

2. Southern California Edison Company's motions to file confidential versions of its petitions for modification under seal are granted in part. The contract information and contract valuation information contained at 3, 6, 9, 12 and 13, Appendices A and C, and portions of Appendices B, D and E of both petitions is sealed until August 1, 2016, except that the information contained at 15, 16, 17 and 18 of Appendix D of both petitions, under the headings "Water Interconnect" and "Imported Water (Cost Decrease)," is not sealed. The sealed materials shall not be made accessible or disclosed to anyone other than the Commission and its staff, except upon further order of the Commission.

3. Applications (A.) 07-02-026 and A.08-04-011 are closed.

This order is effective today.

Dated April 14, 2011, at San Francisco, California.

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