FYI:  Just got off the phone with Michael Hoffman, who's one of two key  outside financial advisors to Davis on the electricity crisis.
The  administration is trying to get a legally binding agreement between the PUC  and DWR to ensure that the PUC doesn't muck around with the money (via  utility rates) DWR requires to be creditworthy.
They were shooting for this  Friday to have a draft of the document read for folks to review, but it now  looks like it won't get resolved until (at the earliest) next week----seems

Rate Agreement between DWR and the PUC Regarding Creditworthiness
