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.
UPDATE: PG&E ISSUES STATEMENT AFTER COURT RULING ON CREATION OF
GOVERNMENT CREDITORS' COMMITTEE
SAN FRANCISCO - Pacific
Gas and Electric Company today issued the following statement after
the U.S. Bankruptcy Court denied a motion by the City and County
of San Francisco and six other local governments to form an Official
Committee of Government Creditors.
"As creditors, the City
and County of San Francisco and other local governments have the
ability to participate in the case, and many of them have already
chosen to do so. We have met with and will continue to meet and
confer with many of the cities, counties, and their associations
to answer questions they may have about our plan of reorganization.
Those questions will also be addressed through the normal confirmation
"Pacific Gas and Electric
Company remains committed to fulfilling its obligations to local
governments. The utility continues to pay its property taxes, franchise
fees, and other local assessments. We look forward to continuing
the historic partnership between the company and local agencies
that has existed for nearly 100 years."
One of the utility's first
actions in Bankruptcy Court was a request for permission to pay
the pre-petition portion of property taxes owed to local governments.
On May 16, 2001, the Court approved the request and the company
promptly paid $41.2 million in taxes to the 49 counties in which