February 16, 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.

PG&E Issues Statement Following Meeting With Governor's Staff

SAN FRANCISCO - Pacific Gas and Electric Company issued the following statement after several of its representatives met today with members of Governor Davis' staff:

"PG&E wants to make clear that it is not seeking a rescue or a bailout. We are asking the state simply to follow the law, which allows us to recover wholesale power costs incurred for our customers, and which recognizes that our rate freeze should have ended last summer. Any solution must be fair both to shareholders and ratepayers. The Governor's framework does not yet meet this objective."

"Our team continues to be willing to negotiate to achieve a fair solution, and our Chairman remains personally available to meet with the Governor any time on this issue."