SAN FRANCISCO - Pacific Gas and Electric Company issued the following statement, on the preliminary results of the election in San Francisco:

"Pacific Gas and Electric Company is pleased by the overwhelming passage of Measure B, which will promote multiple renewable energy sources and energy conservation. Pacific Gas and Electric Company, which endorsed the solar initiative, has long been a leader in energy conservation investing over $2 billion in energy efficiency programs since 1976 that have reduced customer energy demands and offset the need for at least two new power plants.

"Based on the returns in so far, it appears that the voters saw through Measure I, the MUD proposal, and realized it did not offer a solution to the power generation crisis. With the apparent failure of the MUD, a very close vote on Proposition F, and a very low voter turnout, there is no strong sentiment in favor of municipalization in San Francisco.

"It is important to recognize that there are still many other steps the City government and San Francisco voters must approve before any municipalization outcome could occur. An agency has to be formed, commissioners elected and a feasibility study conducted to determine if the City can run the system and justify a take-over. Then, only if the study were found to prove favorable, could the City move forward. That decision would involve an enormous financial commitment on the part of the City, which would be subject to voter approval.

"While it would be premature to speculate on what impact this will have on our Company operations, our number one responsibility is to provide safe and reliable electric and natural gas service to our customers. We will remain focused on that job, which has been the hallmark of our company for more than 96 years."