May 17, 2001 May 17, 2001 President Bush today unveiled his plan for a long-term energy strategy. Following is SCE's position on the plan. ROSEMEAD, Calif., May 17, 2001-While there are many aspects of the President's National Energy Policy which may be helpful in the long-term, we are disappointed that the proposal does nothing to address the immediate electricity crisis facing California and other Western states this year. We need the federal government to fix the dysfunctional wholesale market and ensure "just and reasonable" rates based on the cost of generating electric power. Clearly there is a shortage of electric generating capacity here in California. Thus, we urge the Federal Energy Regulatory Commission to adopt temporary cost-based rates for existing generation throughout the Western electricity grid. We also urge state legislators to adopt the Memorandum of Understanding signed with the governor to return Edison to financial health. The sooner Edison becomes creditworthy, the sooner the state can get out of the electricity procurement business. # # # An Edison International company, Southern California Edison is one of the nation's largest electric utilities, serving a population of more than 11 million via 4.3 million customer accounts in a 50,000-square-mile service area within central, coastal and Southern California.