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 ISSUES STATEMENT AFTER BANKRUPTCY COURT DENIES CPUC'S REQUEST TO HAVE UTILITY PAY FOR UBS WARBURG'S FEES

SAN FRANCISCO - Pacific Gas and Electric Company today issued the following statement after the U.S. Bankruptcy Court denied the California Public Utilities Commission's (CPUC) request that the utility be required to pay UBS Warburg's fees and expenses:

"Pacific Gas and Electric Company is pleased that the U.S. Bankruptcy Court denied the CPUC's motion to require the debtor to pay the fees of the Commission's financial advisor, UBS Warburg."