PRESS RELEASES 2007
 
FOR IMMEDIATE RELEASE
August 02, 2007
ISSUED BY:   PG&E Corporation, 1-800-743-6397

PG&E CORPORATION COMMENDS LIEBERMAN–WARNER CLIMATE CHANGE PROPOSAL

(Washington DC) – PG&E Corporation (NYSE: PCG) Director of Communications, Shawn Cooper, issued the following comments related to today’s announcement by Senator Joseph Lieberman, I-D Connecticut, and Senator John Warner, R-Virginia, that they will introduce a comprehensive climate change bill sometime next month based on a broad range of detailed principles.

“With overwhelming evidence that there is a link between greenhouse gas emissions and the Earth's warming climate, the time to act is now and we commend Senator Lieberman and Warner for their action and innovative approach to key elements of designing a mandatory, national program to combat climate change.”

“We support their creative approach to allocating emissions allowances to Local Distribution Companies on behalf of their electricity customers and believe that it should be given serious consideration as the debate moves forward. Taking this approach will distribute the allowance value to where it should go – in this case, the electricity customer – who will ultimately bear the costs associated with making the transition to lower-emitting power generation technologies through electric rates they pay each month.”

“We are also encouraged by the thoughtful approach by both Senators, in how they are exploring cost containment provisions designed to protect the overall economy – we believe this is a step in the right direction that will not only protect our environment, but also our economy and energy consumers.”

“It also appears that new technology development and new power generation will be encouraged under the recommendations of Senators Lieberman and Warner. For power generation, Senators Lieberman and Warner recognize that these sources will also need access to emission allowances. We look forward to working with them to further develop these provisions to encourage the development and deployment of the most efficient and lowest-emitting technologies and to do so in a way that supports the energy infrastructure of the future and recognizes changing market dynamics.”


 

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