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PG&E Corporation Comments On Today's Energy Crisis Hearing

02/09/2001

(Sacramento, CA) – PG&E Corporation’s Chairman, CEO and President Robert D. Glynn, Jr., today issued the following statement after testifying before the Energy Cost and Availability Subcommittee on Electrical Energy Oversight on the California energy crisis:

"We are pleased that we had the opportunity to share important information with the members of the committee and directly respond to their questions about this crisis and the complicated issues it involves. Today’s hearing, combined with the California Public Utilities Commission’s independent review more than answer all the questions raised about the relationship between the holding company and its affiliated operations."

"Now it is time for the Legislature and the California Public Utilities Commission to move forward and take the steps necessary to resolve the state’s energy crisis: namely, to make sure that energy is available, service is reliable, and the utilities are viable. Strong, successful utility companies are vital to the California’s energy future, as the Governor and Legislature have said. The sooner the state takes steps to achieve this goal, the sooner we can have a comprehensive, long-term solution to this crisis."

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