Hi, and MEETS -

From:campbell@eq-cap.com To: John_D_Podesta@who.eop.gov, john.podesta@gmail.com Date: 2014-07-24 01:38 Subject: Hi, and MEETS -

Hi John - Dave tells me you two talked today about our progress towards MEETS in California - sounds also as though you agree with Commissioner Florio of the CPUC that this can be transformative of EE policy. Of course I think you're right - and once we show the way anyone will be able to deploy this. This is of course what we've been working towards - we think it can unleash an EE gold rush. But till we show it, the problem is "proving there's gold at Sutter's Mill." In that vein a few words on where we are. Basically we're well along in a procurement process leading to a PPA. We've gotten over the staff work in the utility - and are now confronting decision loops. So we're close. We've been careful to keep the regulators briefed. It's clear they are intrigued - I think they want the chance to say yes, subject of course to their own review. But this is actually the time of maximum uncertainty. We have to survive the "final internal utility reviews." That will involve internal meetings in which our concept is presented by a subordinate, to a boss who has never heard of it before. The boss will of course have several decades of "standard thinking" in his or her head, and about 15 minutes in a presentation of a list of proposed projects to say "yes" or "no". In fact we're in a situation in which every new person can say no, but no one person can say yes. Except of course for the CEO. You know enough about MEETS to understand why a utility CEO will want to say yes - but first it has to get to his or her desk. Best key in these situations is an internal champion (could be the CEO). In our lead case, the internal champion who encouraged us to begin, was recruited away from the utility. If our approach seems strategic from a US policy perspective, then it is important that the approach hits this "at scale" milestone. For this purpose I'd like to brainstorm with you this process of "internal champions." Would you have a few minutes to talk, Thursday or Friday? I'll make myself available at your convenience either day. Best personal regards, and I hope and trust you're finding the work rewarding! Equilibrium Capital bill campbell tel: 503.889-7984 | cell: 503.708.1355 www.eq-cap.com<http://www.eq-cap.com/> skype: bill.campbell54 facebook: f<https://www.facebook.com/EquilibriumCapitalGroup?ref=ts>acebook<https://www.facebook.com/EquilibriumCapitalGroup?ref=ts>.com/equilibriumcapitalgroup<https://www.facebook.com/EquilibriumCapitalGroup?ref=ts> twitter: @equilibriumcap<https://twitter.com/EquilibriumCap> admin: beth smith | 503.713.3996 | smith@eq-cap.com<mailto:smith@eq-cap.com> This e-mail transmission, and any documents, files or previous e-mail messages attached to it, may contain confidential and/or legally privileged information and is intended solely for the addressee. Please notify the sender in the event you have received this communication in error. This communication is not an offer to sell or a solicitation of an offer to buy any securities discussed herein. Equilibrium Capital bill campbell tel: 503.889-7984 | cell: 503.708.1355 www.eq-cap.com<http://www.eq-cap.com/> skype: bill.campbell54 facebook: f<https://www.facebook.com/EquilibriumCapitalGroup?ref=ts>acebook<https://www.facebook.com/EquilibriumCapitalGroup?ref=ts>.com/equilibriumcapitalgroup<https://www.facebook.com/EquilibriumCapitalGroup?ref=ts> twitter: @equilibriumcap<https://twitter.com/EquilibriumCap> admin: beth smith | 503.713.3996 | smith@eq-cap.com<mailto:smith@eq-cap.com> This e-mail transmission, and any documents, files or previous e-mail messages attached to it, may contain confidential and/or legally privileged information and is intended solely for the addressee. Please notify the sender in the event you have received this communication in error. This communication is not an offer to sell or a solicitation of an offer to buy any securities discussed herein.