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.
TO STATE POWER CONTRACTS ANNOUNCEMENT
SAN FRANCISCO - Pacific
Gas and Electric Company today issued the following statement, in
response to the announcement by Governor Davis on the results of
the State's auction for power contracts:
"We are pleased that the
State government has received bids for long-term energy contracts
from electricity generators. We agree that long-term contracts are
an important mechanism for stabilizing energy prices and protecting
consumers from market fluctuations.
"Pacific Gas and Electric
Company has consistently sought permission to pursue long-term contracts
but state regulation severely limits our ability to do so. As Governor
Davis has recognized, utilizing long-term contracts is a critical
part of an overall constructive solution to the energy crisis confronting