PRESS RELEASES 2001 RELEASE
FOR IMMEDIATE RELEASE
April 10, 2001
Contact: PG&E News Department (415) 973-5930
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.

PACIFIC GAS AND ELECTRIC COMPANY RECEIVES COURT APPROVAL OF THIRD-DAY MOTIONS

Utility Granted Authority to Refund Customer Deposits

San Francisco, CA -- Pacific Gas and Electric Company today received approval from the U.S. Bankruptcy Court for the Northern District of California on various motions which allow the utility to fulfill its obligations to customers without disruption.

The court granted the utility the authority to issue refunds of security deposits to residential customers who were required to make such deposits, as those deposits become eligible for refund through the utility's existing deposit refund policy. This will allow the utility to issue refunds totaling approximately $5.3 million to more than 27,000 residential customers whose deposits are eligible for refund, either in the form of a credit or a direct payment by check. The court also authorized the utility to issue future refunds to residential customers as those refunds become eligible through the normal course of business. Based on historical averages, the utility refunds approximately $1.7 million in residential customer deposits per month.

The court also granted the utility the authority to issue refunds of security deposits to non-residential customers, as those deposits become eligible for refund through the utility's existing deposit refund policy. This will allow the utility to issue refunds to non-residential customers whose deposits are eligible for refund, and future refunds as they become eligible through the normal course of business. Based on historical averages, the utility refunds approximately $1.8 million in non-residential customer deposits per month.

The court also granted the utility the authority to issue refunds of mainline extension service deposits to individual residential customers. These deposits are usually required of customers when engineering and construction work is needed to develop bare lots or add new loads to existing service.


 

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