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PG&E Issues Statement On Court's Decision On Ratepayers' Committee

05/18/2001

Pacific Gas and Electric Company today issued the following statement after the U.S. Bankruptcy Court issued a decision vacating the United States Trustee's (UST) appointment of a Ratepayers' Committee in PG&E's pending bankruptcy case.

"Pacific Gas and Electric Company is pleased that the court determined there was no basis in the Bankruptcy Code for the creation of a Ratepayers' Committee. This decision allows for the continuation of an orderly and efficient reorganization process that the Bankruptcy Code provides.

"The company does not object to ratepayers having a voice in the process relating to matters where they have an interest. Under the Bankruptcy Code, there are legitimate, appropriate and lawful ways for ratepayers to be represented and heard in the bankruptcy process.

"We believe that by offering the California Attorney General's Office the ability to participate in this proceeding on behalf of affected California consumers, the court has fashioned an outcome which both is consistent with federal bankruptcy law and provides consumers with the ability to have their concerns appropriately aired and addressed.

"The company will continue to be open to the participation of ratepayers in a manner consistent with law."

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