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effect of the FERC ordered rollback brings significant rate relief under the Confirmed Plan.lo <br />In the context of generalized rate relief, it appears doubtful that the CPUC would be willing <br />to undertake the ironic step of imposing a surcharge on certain classes of customers <br />(including local government entities such as ABAG POWER's electricity members) in order to <br />wring out the last bitter drop of savings generated by the FERC ordered refunds. Another <br />impediment to such action by the CPUC is the specter of resurrecting the public debate <br />about California's failed energy deregulation program. <br />Conclusion <br />The CPUC has the theoretical ability to reduce the Direct Access Credits paid to ABAG <br />POWER. However, ABAG POWER can pose the following legal argument in position: (a) the <br />CPUC is estopped from so doing by the CPUC's findings and actions in reaching the Master <br />Settlement Agreement with PG&E, and the CPUC's support for the Confirmed Plan under <br />which the credits were paid, and (b) the logistical and equity issues raised in the 1998 RAP <br />- Draft Decision. In the absence of any motivation to undertake such a step other than <br />bureaucratic purity of process, ABAG POWER's opinion is that the risk is nominal. <br />io Master Settlement Agreement estimates a potential recovery by PG&E of ($ ) in FERC ordered <br />price reductions. <br />Wind Up Agreement-Attmt D- 4-28-04 All <br />