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.
AND ELECTRIC COMPANY TELLS FERC: IT DID NOT ENGAGE IN WASH TRADING
IN GAS MARKETS
SAN FRANCISCO -Pacific Gas
and Electric Company today informed the Federal Energy Regulatory
Commission (FERC) that it did not engage in "wash," "roundtrip,"
or "sell/buyback" natural gas trades in the Western United States
and Texas markets.
The filing was in response
to the Commission's May 22 request for information about trading
activities from all companies who sold natural gas in the Western
U.S. and Texas wholesale markets in 2000 and 2001.
In its response, Pacific
Gas and Electric Company informed FERC that as a retail gas and
electric utility, the company engages primarily in retail sales
of natural gas, and only incidentally in sales of excess gas in
wholesale markets. To the limited extent the utility sold natural
gas in wholesale markets in 2000-2001, it did not engage in any
"wash," "round trip," or "sell/buyback" transactions.
The Pacific Gas and Electric
Company response to FERC is available at the company's Website,