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Chapter 11 Update: Pacific Gas And Electric Company Asks Court To Assume Franchise Fee Agreements

07/05/2001

San Francisco — Pacific Gas and Electric Company has filed a motion in U.S. Bankruptcy Court asking for the authorization to assume more than $76 million in franchise fee agreements with cities and counties.

California cities and counties have granted Pacific Gas and Electric Company permission to install, operate and maintain electric, gas, oil, and water facilities in the public streets owned by these local governments. In exchange for the right to use public streets and roads, privately owned utilities and other public service companies pay an annual franchise fee.

The company has 267 electric franchises, 238 gas franchises, 4 oil pipeline franchises, and 1 water franchise. Pacific Gas and Electric Company understands that many cities and counties depend on the fees paid by the utility to fund services and the company wants to limit the impact on local governments.

By requesting to assume the franchise agreements, the company is ensuring that it will have the authority to pay its franchise fees when they become due, and minimize any inconvenience to local governments.

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