PRESS RELEASES 2003
FOR IMMEDIATE RELEASE
July 22, 2003
ISSUED BY:   PG&E Corporation, 800-PGE-NEWS

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 APPPROVAL TO PAY $281 MILLION MORTGAGE BOND MATURITY

SAN FRANCISCO - PG&E Corporation's (NYSE: PCG) utility unit, Pacific Gas and Electric Company, has received approval from the U.S. Bankruptcy Court to pay $281 million of 6-1/4 percent Series 93C First and Refunding Mortgage Bonds maturing August 1, 2003. Pacific Gas and Electric Company will pay the bondholders from its current available cash.

Bondholders who hold the bonds in a brokerage account will have principal and interest paid to their account. Certificate holders will need to deliver their certificates to the trustee, The Bank of New York, to receive payment for the principal. Interest checks to certificate holders will be mailed separately.


 

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