Assignment of Proceeding
Loretta Lynch is the Assigned Commissioner and Michelle Cooke is the assigned ALJ in this proceeding.
Findings of Fact
1. The Joint Recommendation is sponsored by ORA and SCE.
2. All ENVEST Pilot Programs are in place.
3. The ENVEST Pilot Program remains open only to existing participants and only until the final payments have been made by the participants, estimated to be in 2010.
4. SCE agrees to not seek recovery of program administration costs incurred in excess of the $8 million already provided by ratepayers.
5. The credit-loss revenue balance is $2 million plus accrued interest.
6. SCE agrees to assume all future credit risks and risk of collections associated with ENVEST Pilot Program contracts.
7. The refund of the credit-loss revenue to current ratepayers returns the funds advanced by ratepayers to establish this account.
Conclusions of Law
1. The Joint Recommendation benefits ratepayers by refunding the credit-loss reserve balance charges EDRA balance to current ratepayers, many of whom have advanced fund to establish the account.
2. The Joint Recommendation benefits SCE by removing uncertainty regarding later review of the ENVEST Pilot Program.
3. It is reasonable to refund the credit-reserve amount now and to close the EPAA.
4. The Joint Recommendation is unopposed, consistent with the law, reasonable in light of the whole record, and in the public interest.
5. The Joint Recommendation should be approved.
ORDER
IT IS ORDERED that:
1. The Joint Recommendation of the Office of Ratepayer Advocates and Southern California Edison Company (SCE) to Terminate the ENVEST Pilot Program is approved.
2. Within 45 days of the effective date of this decision, SCE shall credit the Electric Deferred Refund Account with $2 million plus interest from the date of creation of the ratepayer funded credit-loss reserve at the rate earned on prime, three-month commercial paper, as reported in the Federal Reserve Statistical Release H.15.
3. This proceeding is closed.
This order is effective today.
Dated , at San Francisco, California.
APPENDIX A
