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.
TO HELP BUILD NATIONAL FIBER OPTIC NETWORK
(San Francisco, CA) - PG&E
Corporation today announced that it is helping to build the single
largest-capacity broadband network in the United States. The corridors
through which the Company’s pipelines now transport natural gas
will soon also carry high-speed voice, data and other broadband
traffic along routes extending from Washington State through California.
The broadband connections will be part of a nationwide business
platform to be built, owned and operated by Aerie Networks, a new
competitor in the broadband technology industry.
Aerie's network, which will
consist of more than 8.9 million fiber miles, will be the highest
capacity inter-city network in the United States, and will provide
bandwidth capacity to serve more than 90 percent of the U.S. business
market. PG&E Corporation, along with 11 other energy and communications
companies involved in the project, will own an equity share in the
"The infrastructure requirements
of the ‘New Economy’ create enormous opportunities,” says Robert
D. Glynn, Jr., PG&E Corporation Chairman, CEO, and President. "This
project is an excellent example of how PG&E Corporation will capture
value from these opportunities and deliver it to our shareholders."
Construction of the national
network is expected to begin this summer following appropriate regulatory
approvals. The energy companies will assist Aerie’s placement of
the network in pipeline rights-of-way and PG&E Corporation will
assist with the regulatory and permit process. The network is expected
to be completed by 2003.
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.