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.
TELLS CALIFORNIA STATE SENATE ITS UNITS HAD NO BUSINESS RELATIONSHIP
WITH PEROT SYSTEMS
(San Francisco, CA) - PG&E
Corporation (NYSE: PCG) reported today that its business units,
Pacific Gas and Electric Company and the PG&E National Energy Group
(PG&E NEG), have informed the California State Senate that they
did not have any contracts or other business relationships with
Perot Systems Corporation.
The California State Senate's
Select Committee to Investigate Price Manipulation of the Wholesale
Energy Market asked California's investor-owned electric utilities
and other energy providers to indicate any business relationships
and contacts with Perot Systems. Last week, Pacific Gas and Electric
Company and the PG&E NEG provided responses to the Committee's earlier
inquiry relating to trading practices. In that response, both companies
told the committee that they did not engage in any Enron-style trading
The Corporation is pleased
to continue its cooperation with the California State Senate's investigation
and hopes that this will assist in restoring confidence in the energy
markets as speculation is replaced by fact.
Copies of Pacific
Gas and Electric Company's and PG&E
NEG's responses to the California State Senate, relevant documents
and press releases are available for viewing at www.pge-corp.com