March 31, 2009
ISSUED BY:   PG&E Corporation, 1-800-743-6397


(San Francisco) – PG&E Corporation (NYSE:PCG) issued the following comment from Chairman, CEO and President Peter Darbee regarding the discussion draft of an energy and climate change bill put forward in Congress today by U.S. Representatives Henry Waxman and Edward Markey:

“The discussion draft by Congressmen Waxman and Markey stakes out the key issues and creates a solid framework to begin the job of developing legislation that puts in place a comprehensive, integrated set of policies and strategies to address climate change.”

“Consistent with the principles PG&E has long supported on climate change, we are pleased to see that the draft recognizes the need for both aggressive emissions reduction goals and measures to protect consumers and the economy against electric and natural gas price shocks, along with the need to invest in technology and advance energy efficiency, among other initiatives.”

“Importantly, the discussion draft incorporates many of the ideas reflected in the U.S. Climate Action Partnership’s Blueprint for Legislative Action, which was released earlier in the year and details a package of recommendations embraced by a coalition of leading businesses and environmental NGOs, including PG&E.”

“We look forward to working with Chairmen Waxman and Markey to continue refining certain provisions of the bill to further enhance protections for consumers. For example, PG&E will continue to emphasize the importance of returning the value of emissions allowances back to electric and natural gas consumers through regulated local distribution utilities and their regulators as a vital component of any effort to contain costs. We will also work to ensure that the cost-containment and offset provisions are robust and will help consumers and businesses as the nation transforms its energy infrastructure to support a low-carbon economy.”