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CITY OF COLTON <br />AGENDA REPORT <br />For Council Meeting of March 17, 1992 <br />TO: Honorable yor a C' y Council <br />FROM: a k , City Manager <br />SUBJECT: Request For Approval Of Settlement <br />Agreement With Southern California Edison <br />Company In FERC Docket ER84-75-000 <br />BACKGROUND: <br />Date: 3/12/92 <br />The City of Colton Electric Utility, along with the cities of Azusa, <br />Banning, Anaheim and Riverside are involved in a number of Rate Cases <br />with Southern California Edison Company (SCE) before the Federal Energy <br />Regulatory Commission (FERC). SCE has offered a settlement for <br />outstanding issues in FERC Docket ER84-75-000. After review by our <br />attorneys and Utility managers, it was determined that approval of the <br />agreement would be more beneficial to the cities than further litigation <br />with an unknown outcome. The memorandum from our attorneys, Spiegel & <br />McDiarmid, and the agreement are privileged and confidential until all of <br />the parties have approved them; therefore, they are being held by the <br />City Clerk for your review prior to your approval. <br />ALTERNATIVES• <br />N/A. <br />FINANCIAL IMPACT: <br />Upon receipt, any monies realized would be set aside, with approval <br />through the City Council, in the existing interest-bearing account <br />containing previous refunds that are used for purchased power costs to <br />help defer a portion of future rate increases. The interest portion of <br />the Edison refund be accrued to the City's General Fund in accordance <br />with the City's existing policy and State law. <br />ENVIRONMENTAL IMPACT: <br />N/A <br />RECOMMENDATION• <br />It is recommended that our attorneys from the law offices of Spiegel & <br />McDiarmid be authorized to execute the Settlement Agreement on behalf of <br />the City of Colton. <br />Attachments: None I (/ ^ <br />Item No. -- <br />Page 1 of 1 MiFwtt�,.+. 4��b <br />