11. Assignment of the Proceeding

Catherine J. K. Sandoval is the assigned Commissioner and Timothy Kenney is the assigned ALJ for this proceeding.

Findings of Fact

1. The Proposed Transaction will not have any adverse effects on CalPeco's regulated operations or customers.

2. The Proposed Transaction and the associated Settlement Agreement will not result in a direct physical change in the environment or a reasonably foreseeable indirect physical change in the environment.

Conclusions of Law

1. The ratepayer protections adopted by D.10-10-017, including those protections in OP 1(c) of D.10-10-017 and the Regulatory Commitments in Appendix 3 of D.10-10-017, will remain in full force and effect if the Proposed Transaction and the Settlement Agreement are approved.

2. The Proposed Transaction is not adverse to the public interest and, therefore, should be approved pursuant to Section 854(a).

3. The Settlement Agreement should be approved pursuant to Rule 12.1(d) because it is reasonable in light of the whole record, consistent with the law, and in the public interest. The all-party motion for approval of the Settlement Agreement should be granted.

4. The Commission is the lead agency under CEQA for A.11-09-012.

5. A.11-09-012 and the associated Settlement Agreement are exempt from CEQA pursuant to &_butType=4&_butStat=0&_butNum=4&_butInline=1&_butinfo=14 CA ADMIN 15000&_fmtstr=FULL&docnum=14&_startdoc=11&wchp=dGLzVzb-zSkAb&_md5=bfb1a222b477eb8e3b868e5968ed5af3" target="_top">14 Cal. Code Regs., § 15061(b)(3).

6. The following order should be effective immediately so that the Proposed Transaction may be consummated expeditiously.

ORDER

IT IS ORDERED that:

1. Application 11-09-012 is granted pursuant to California Public Utilities Code Section 854(a).

2. The attached Settlement Agreement between the Commission's Division of Ratepayer Advocates and the Joint Applicants is approved. The all-party motion for approval of the attached Settlement Agreement is granted.

3. The Joint Applicants shall comply with all provisions, terms, and conditions of the Settlement Agreement, including the following:

i. The Joint Applicants' duties and obligations under the Regulatory Commitments in Appendix 3 of Decision 10-10-017 shall remain in full force and effect, notwithstanding any changes made in the Upstream Ownership of California Pacific Electric Company, LLC, (CalPeco) resulting from Commission's approval of Application 11-09-012.

ii. The Joint Applicants and the Additional Algonquin Entities, as defined in Section 2.3 of the Settlement Agreement, shall provide their officers and employees to testify in California regarding matters pertinent to CalPeco, as the Commission itself may determine to be necessary, consistent with established principles of due process and fundamental fairness.

4. The ratepayer protections adopted by Decision (D.) 10-10-017 remain in full force and effect, including the protections in Ordering Paragraph 1(c) of D.10-10-017 and the Regulatory Commitments in Appendix 3 of D.10-10-017. The Regulatory Commitments are reproduced in Appendix 3 of today's decision.

5. Application 11-09-012 is closed.

This order is effective today.

Dated June 7, 2012, at San Francisco, California.

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