Procedural History

The ACR directed parties to comment on whether this memorandum account should earn the reduced transition cost rate of return or the 90-day commercial paper interest rate and proposed that no ratemaking treatment would be established until PG&E and Edison end their respective rate freezes. PG&E, Edison, the Office of Ratepayer Advocates (ORA), and Enron Corporation (Enron) filed timely comments on this issue.