PRESS RELEASES 2003
FOR IMMEDIATE RELEASE
November 19, 2003
ISSUED BY:   Corporate Communications 1-800-743-6397

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.

CHAPTER 11 UPDATE: PG&E ISSUES STATEMENT ON NINTH CIRCUIT DECISION ON EXPRESS PREEMPTION

SAN FRANCISCO - PG&E Corporation (NYSE: PCG) and Pacific Gas and Electric Company today issued the following statement in response to the decision issued by the Ninth Circuit Court of Appeals on the issue of express preemption:

"We do not view today's ruling by the three-judge panel as having an impact on our plan to emerge from Chapter 11. The proposed settlement agreement reached with the staff of the California Public Utilities Commission (CPUC) in June is proceeding towards resolution by the end of this year and does not rely on the bankruptcy law preemption issues addressed in today's Ninth Circuit decision."

"The Court's ruling today, which relates to PG&E's original plan, authorizes the application of express preemption of otherwise applicable nonbankruptcy laws relating to financial conditions in a plan of reorganization. In addition, the Ninth Circuit reaffirmed that implied preemption could apply in a case even if express preemption did not."


 

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