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 NATIONAL
ENERGY GROUP TELLS PUBLIC UTILITY COMMISSION OF TEXAS NO MANIPULATION
OF ERCOT MARKET
BETHESDA, Md. - PG&E National
Energy Group, a unit of PG&E Corporation (NYSE: PCG), today reported
to the Public Utility Commission (PUC) of Texas that it did not
engage in energy trading strategies described in Enron Corp. memos
made public in May. The report was in response to a June 12 request
to power marketers, scheduling and resource entities by the PUC.
PG&E National Energy Group
responded to similar requests by the Federal Energy Regulatory Commission
and the California State Senate's Select Committee to Investigate
Price Manipulation of the Wholesale Energy Market. The response
to those entities, as well as today's report to the PUC, specifically
denied engaging in the Enron strategies. PG&E National Energy Group
provided details of the procedures it used to sell electricity into
the state's balancing energy market.
PG&E National Energy Group
responded on behalf of its trading operation and Spencer Station
Generating Company, L.P., its 178-megawatt generating facility that
supplies wholesale power to the City of Denton.
Headquartered in Bethesda,
Md., PG&E National Energy Group develops, builds, owns and operates
electric generating and natural gas pipeline facilities and provides
energy trading, marketing and risk-management services.
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