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PG&E Hails Passage Of Climate Bill As ‘Watershed Moment’

06/29/2009

(San Francisco) – PG&E Corporation Chairman, CEO and President Peter A. Darbee provided the following comment today on the passage of the American Clean Energy and Security Act by the U.S. House of Representatives:

“The House passage of the American Clean Energy and Security Act represents a watershed moment in the ongoing effort to craft and implement an economically sustainable and environmentally effective plan to address the threat of global warming.”

“This bold step puts a clear stake in the ground and moves the U.S. significantly closer to adopting smart, responsible strategies to lower greenhouse gas emissions and promote the innovation and long-term clean energy investments that will benefit our economy. We look forward to opportunities to continue strengthening the legislation on behalf of our customers as the Senate now takes up this critical issue.”

“Importantly, the House bill encourages utilities and others to drive more investments in renewable power, energy efficiency, and new technology and infrastructure – the groundwork for a low-carbon economy. At the same time, it recognizes the importance of safeguarding consumers against sharp increases in energy prices for electric and natural gas.”

“We especially thank those members of the House, whose leadership was essential to this achievement, including Speaker Pelosi, Chairmen Waxman and Markey, and Congressman Boucher. We continue to look forward to seeing a final bill on President Obama’s desk this year, so we can all begin working from a clear, common platform to address this urgent challenge.”

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