San Francisco, CA -- Pacific
Gas and Electric Company today issued the following statement after
the State and Southern California Edison reached an agreement:
"We are pleased that Southern
California Edison, given its set of facts, and the State have been
able to reach an agreement and are hopeful that this agreement will
contribute to the solution of the State's energy crisis.
"Given our set of facts,
we continue to believe that a Chapter 11 reorganization is the most
feasible means to reach a solution.
"We will proceed at the
direction of the bankruptcy court."