Steve:    Attached is a memo that reponds to your question:  "Can the solution to the  utilities' undecollection problem take place at the PUC, or is a legislative  fix required?"
As we discussed, I'm also attaching a memo from Mike Day on  the issue.
Bottom line:  It's within the PUC's jurisdiction to solve the problem, but  the likelihood is high that it will be a key focus of the Legislature in the  next session.
If you, or anyone on the distribution, have any questions, let  me know.
Best,

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