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ALJ/SMW/sbf Date of Issuance 7/13/2012

Decision 12-07-003 July 11, 2012

BEFORE THE PUBLIC UTILITIES COMMISSION OF THE STATE OF CALIFORNIA

Order Instituting Rulemaking on the Commission's Own Motion to Consider Effectiveness and Adequacy of the Competitive Bidding Rule for Issuance of Securities and Associated Impacts of General Order 156, Debt Enhancement Features, and General Order 24-B.

Rulemaking 11-03-007

(Filed March 10, 2011)

ORDER CORRECTING ERRORS IN DECISION 12-06-015

This order corrects certain non-substantive errors in Decision
(D.) 12-06-015 which adopted a new Financing Rule which replaced the Competitive Bidding Rule authorized in Resolution F-616 revisions to
General Order 24. This order also corrects certain wording errors regarding
Rule 6.c.i of the new Financing Rule and related text of the decision.

Pursuant to Commission Resolution A-4661 and Rule 16.5 of the Commission's Rules of Practice and Procedure, the Commission's Executive Director is authorized to sign, on behalf of the Commission, orders involving the correction of clerical and other obvious inadvertent errors and omissions in Commission decisions. On this basis, these corrections to D.12-06-015 are hereby adopted.

Corrections

Attachment A to this order includes the corrected pages of the decision and attachments. In particular, the corrections to the typographical errors in D.12-06-015 are as follows:

1. Page 16 - The sentence "Both suggest language that clarifies the statutory exemption applicable to them, referencing Public Utilities (Pub. Util.) Code § 829(b)(1)" at the end of the first partial paragraph should read "They suggest language that clarifies the statutory exemption applicable to them, referencing Public Utilities (Pub. Util.) Code § 829(b)(1)" in order to coordinate with the number of parties (more than two) being referred to in the previous sentence;

2. Page 29 - Rule 6 subheadings should be a, b, and c; not d, e, and f, in order to match the rule in Attachment A to the decision;

3. Page 34, Finding of Fact 7 - Item 5 should be changed to "permit competitive bidding via electronic means, such as e-mail, in lieu of telephonic bidding," in order to match the text in the body of the decision;

4. Page 37, Conclusion of Law 5 - Should be changed to "Since government loans and tax-exempt debt are governed by their own set of rules and regulations, and may not be bid at all, we should exempt these forms of debt." in order to be grammatically correct; and

5. The title page of Attachment A should read "Attachment A Final Financing Rules" in order to accurately identify the new name of the rule.

We also correct certain wording errors regarding Financing Rule 6.c.i, which requires a utility to provide a report on all interest income and expense related to swaps and hedging transactions in its General Order 24 report. The language in Financing Rule 6.c.i must match that of the new General Order 24-C with regards to the timing of the reports. D.12-06-015 is therefore corrected as follows:

1. Page 29 - The rule identified as 6.c.i. should be changed to "Utilities shall separately report any interest income and expense arising from all swaps and hedging transactions in their General Order 24-C reports for the applicable period, to the Commission." in order to match the requirements of the new General Order 24-C; and

2. Attachment A, page A5 - The rule identified as 6.c.i. should be changed to "Utilities shall separately report any interest income and expense arising from all swaps and hedging transactions in their General Order 24-C reports for the applicable period, to the Commission." in order to match the requirements of the new General Order 24-C.

IT IS ORDERED that:

1. The amended Decision 12-06-015, which contains non-substantive corrections of errors in the original decision, are hereby adopted pursuant to Commission Resolution A-4661 and Rule 16.5 of the Commission's Rules of Practice and Procedure.

2. At the end of the first partial paragraph on page 16 of Decision 12-06-015, the sentence "Both suggest language that clarifies the statutory exemption applicable to them, referencing Public Utilities (Pub. Util.) Code §829(b)(1)" is changed to "They suggest language that clarifies the statutory exemption applicable to them, referencing Public Utilities (Pub. Util.) Code §829(b)(1)" in order to coordinate with the number of parties (more than two) being referred to in the previous sentence.

3. At page 29, the subheadings in Rule 6 should be a, b, and c; not d, e, and f, in order to match the rule in Attachment A to the decision.

4. At Finding of Fact 7 on page 34 of Decision 12-06-015, item 5 should be changed to "permit competitive bidding via electronic means, such as e-mail, in lieu of telephonic bidding," in order to match the text in the body of the decision.

5. Conclusion of Law 5 on page 37 of Decision 12-06-015 is changed to "Since government loans and tax-exempt debt are governed by their own set of rules and regulations, and may not be bid at all, we should exempt these forms of debt." in order to be grammatically correct.

6. The title page of Attachment A is changed to "Attachment A Final Financing Rules" in order to accurately identify the new name of the rule.

7. We also correct certain wording errors regarding Financing Rule 6.c.i, which requires a utility to provide a report on all interest income and expense related to swaps and hedging transactions in its General Order 24 report. The language in Financing Rule 6.c.i must match that of the new General Order 24-C with regards to the timing of the reports. D.12-06-016 is therefore corrected as follows:

a. On page 29 - The rule identified as 6.c.i. should be changed to "Utilities shall separately report any interest income and expense arising from all swaps and hedging transactions in their General Order 24-C reports for the applicable period, to the Commission." In order to match the requirements of the new General Order 24-C; and

b. Attachment A, page A5 - The rule identified as 6.c.i. should be changed to "Utilities shall separately report any interest income and expense arising from all swaps and hedging transactions in their General Order 24-C reports for the applicable period, to the Commission." In order to match the requirements of the new General Order 24-C.

This order is effective today.

Dated July 11, 2012, at San Francisco, California.

Attachment A

Amended Pages of

Decision 12-06-015

(END OF ATTACHMENT A)

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