EDITORS: Please do not use "Pacific Gas and Electric" or "PG&E" when referring to PG&E Corporation or its National Energy Group. The PG&E National Energy Group is not the same company as Pacific Gas and Electric Company, the utility, and is not regulated by the California Public Utilities Commission. Customers of Pacific Gas and Electric Company do not have to buy products or services from the National Energy Group in order to continue to receive quality regulated services from Pacific Gas and Electric Company.

PG&E CORPORATION TO ISSUE 1999 EARNINGS ON MARCH 2

Conference call available on the Internet

(San Francisco, CA)-PG&E Corporation (NYSE: PCG) said today that it would report its 1999 year-end and fourth quarter earnings on Thursday, March 2.

The Corporation, originally scheduled to announce earnings in January, delayed reporting its financial results until the California Public Utilities Commission issued a decision on the General Rate Case for the Corporation's utility unit. The Commission's decision was issued February 17. The financial impact of the rate case will be reflected in the Corporation's upcoming earnings report.

PG&E Corporation will also make available over the Internet its quarterly conference call to the financial community. Robert D. Glynn, Jr., Chairman of the Board, Chief Executive Officer, and President; Peter A. Darbee, Senior Vice President, Chief Financial Officer, and Treasurer; and Jamie B. Fenton, Manager of Investor Relations, will discuss the 1999 financial results and the Company's outlook for 2000. The conference call will be held Thursday, March 2, at 8 a.m. Pacific Standard Time, and will be available on a listen-only basis at www.pgecorp.com. The discussion and question-and-answer session will be archived on the Internet for 90 days.

PG&E Corporation, with revenues of more than $20 billion and operations in 27 states, markets energy services and products throughout North America through its National Energy Group. PG&E Corporation's businesses also include Pacific Gas and Electric Company, the Northern and Central California utility that deliver natural gas and electricity to one in every 20 Americans.