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.
UNITS RESPOND TO FERC INVESTIGATION INTO NATURAL GAS TRADING ACTIVITY
(San Francisco, CA) - PG&E
Corporation (NYSE:PCG) units Pacific Gas and Electric Company and
PG&E National Energy Group (PG&E NEG) today filed responses to a
request by the Federal Energy Regulatory Commission (FERC) for information
concerning natural gas trading activities in Texas and Western U.S.
markets during 2000 and 2001. More than 100 companies were asked
by FERC to provide information on trading activities involving the
sale of natural gas to another company together with a simultaneous
purchase of the same amount of natural gas at the same price.
Pacific Gas and Electric Company,
and the PG&E National Energy Group informed the Commission that
they did not engage in the activities outlined in the FERC's investigation.
We continue to welcome the
opportunity to assist the FERC in its efforts as the Commission
investigates events in the Western energy markets during 2000 and
Copies of Pacific
Gas and Electric Company and the PG&E
National Energy Group responses to FERC are available for viewing
at www.pgecorp.com. Copies of the press releases summarizing the
Companies' respective responses to FERC may also be viewed at www.pgecorp.com.