SAN FRANCISCO - PG&E Corporation Chairman, CEO, and President Robert D. Glynn, Jr. today issued the following statement in response to the announcements made by Energy Secretary Bill Richardson, Federal Energy Regulatory Commission Chairman James Hoecker, Senator Dianne Feinstein, and Governor Gray Davis, regarding California's power crisis:

"PG&E Corporation appreciates the leadership shown today by state and federal officials in addressing the crisis in California's energy sector. They are clearly working to find solutions to the immediate crisis, giving Californians reason for optimism that long-term solutions can be developed, as well.

"I am especially gratified that Governor Davis and Senator Feinstein underscored the irreplaceable role that California's utilities have in powering the state's economy. Governor Davis and Senator Feinstein see clearly that only financially healthy utilities can continue to provide service, and ultimately must play a role in fostering long-term solutions.

"We applaud Secretary Richardson for taking immediate actions to make additional power available to California at reasonable costs. We also welcome his call for a settlement conference of the parties and would participate in any such forum."